The work aimed to explore the value relevance of sustainability reporting practices within the annual reports of the Iraqi tourism companies using a sample of Iraqi tourism companies listed in Iraq ...Stock Exchange. The research investigates whether sustainability information disclosed by the tourism companies add to the value of annual reports data. This research utilized a quantitative method using a sample of Iraqi tourism companies consist of 52 year-firm observations for the period between 2013-2018. To determine the value relevance of sustainability reporting, two market indicators were used are share price and traded shares. The findings indicate that the sustainability reporting is value relevant for the change in share price of the sample tourism companies, and there a significant positive correlation between sustainability reporting and share price. However, when we examined the value relevance with the traded shares, the results show insignificant correlation between sustainability reporting and traded shares. Thus, the results imply that the sustainability reporting is sensitive only to the share price and it is not reflected the size of the traded share of the companies.
Managing business operations of a company is performed by making decisions in different organizational positions and on a different level of responsibility. Decision in a company means hiring ...available resources and expecting results. In order for a decision to be effective and efficient, it needs to be based on timely, relevant and reliable information. The most common source of information for decision makers is from the accounting information system. Accounting information system is in charge of gathering data, processing, managing a database and generating reports for different purposes. Information from the accounting information system needs to be relevant, timely and reliable because of the character of bookkeeping as a highly formalized record based on complete and permanent gathering and systematic, chronological and real-time data processing in relation to resulting individual business events, which can be shown in value.
Purpose: The objective of this article is to assess how many entities have faced going concern problems and to identify what uncertainties may affect a going concern, especially during the COVID-19 ...pandemic.
Methodology/research approach: The subject of the research was financial reports of com-panies listed on the main market of the Warsaw Stock Exchange in the following sectors: clothing and cosmetics, recreation and leisure, and transport and logistics. Thirty-three (out of 37) reports for the first half of 2020 were examined. We analysed the content of full ver-sions of the descriptive parts of financial statements, reports on the auditor’s review and management comment letters.
Results: Nearly half of the surveyed entities that declared they were a going concern dis-closed going concern uncertainties. The pandemic affected the scope of disclosures present-ed in the reports. The variety of presentation styles and the selectivity of the place of the disclosure may hinder stakeholders when drawing conclusions.
Research limitations/implications: Only three sectors were examined, and the sector analysis was conducted only in listed companies with complete and available reports. We analysed half-yearly reports that were reviewed by statutory auditors. The reports were analysed early in the pandemic. The article may be an inspiration for further research, including comparative research, in companies from the same and other sectors. The issue is vital, all the more so as the impact of the pandemic may change over time.
Originality/Value: The article is a practical study of going concern disclosures during the pandemic. The study reveals the multifaceted nature and complexity of the issues related to continuation assessment.
Bulgarian economy is a part of the ongoing worldwide processes of globalization. Of the other part, the importance of the tourism sector of Bulgarian economy is essential. Changing the theoretical ...and practical knowledge in every field of science should follow the general direction of development. The same goes for accounting. Accountability is related to the effective management of the enterprise. On the other hand, accounting is a "conservative science" but "revolutionary" changed in recent years. This article aims to show the contemporary bioeconomical problems in tourism.
Purpose: There is evidence that managers engage in opportunistic practice to manipulate reported performance to attract unsuspecting investors. This paper seeks to detect the likelihood of ...manipulations on the financial reports of financial service firms (banks and other financial institutions) as well as to identify the financial indicators that are the likely predictors of the probability of manipulations in Nigeria.
Theoretical framework: The M-score models, from Beneish (1999), are employed as theoretical basis for the paper. The model use financial ratios computed using accounting data to confirm the probability that firms’ reported earnings are manipulated.
Design/Methodology/Approach: The study uses data from the Nigerian Exchange Group, from 2010 to 2019 to compute M8/M5-scores and classify firms into likely manipulators and unlikely manipulators. In addition, a probit regression model was applied to establish financial ratios that significantly predict the likelihood of FSF amongst the financial firms.
Findings: The results based on M8 (M5)-score indicate that 26.67% (23.33%) of firms likely manipulate financial books and exhibit the possibility of FSF. In addition, only sales in receivable, sales growth, depreciation expenses, leverage and accruals to assets ratios are found to be (positive) significant predictors of the probability of manipulations.
Research, Practical & Social implications: The implication of the outcome is that subjecting financial statements to empirical and statistical scrutiny should not be ignored because it would detect and reduce associated risks to manipulations. Therefore, more regulatory interventions and empirical auditing of reports are needed to ensure their readability and reliability to the investors.
Originality/Value: The study offers a novel and first evidence, based on Beneish M-score, to scrutinise reports of financial firms in Nigeria. The evidence ensures quality reporting of the financial statements in order to credibility as well as protect the integrity of the capital markets.
Sebagai sebuah lembaga yang melayani masyarakat, pemerintah desa berkewajiban untuk mempertanggungjawabkan keuangan negara yang dikelolanya. Namun berdasarkan data, masih banyak ditemui praktik ...kecurangan (fraud) yang terjadi dalam pemerintahan desa. Penelitian ini dilakukan untuk mengetahui faktor-faktor yang mempengaruhi terjadinya kecurangan (fraud) dalam pengelolaan dana pemerintahan desa. Analisis data dilakukan melalui regresi linier berganda. Data penelitian berupa data primer melalui instrumen kuisioner dengan convenience sampling sebagai teknik yang digunakan dalam pengambilan sampel penelitian. Secara parsial hasilnya menunjukkan variabel penyajian laporan keuangan desa dan pengendalian internal tidak berpengaruh terhadap terjadinya kecurangan (fraud). Sedangkan budaya etis organisasi dan religiusitas berpengaruh negatif terhadap terjadinya kecurangan (fraud).
The problem of functioning of parties from the point of view of their financing and sources of income is considered. It is indicated that in Ukraine both individuals and legal entities can make ...contributions to parties and requirements for potential donors and the mechanism for transferring funds to parties are enshrined at the legislative level. Since 2016 Ukrainian parties have been required to submit financial reports to indicate all contributions in their favor. It has been established that during 2019 sixteen most rated and media parties («Bat`kivshhy`na», «Rady`kal`na partiya Olega Lyashka», «Sluga narodu», «Yevropejs`ka solidarnist`», «Opozy`cijny`j blok», «Golos», «Samopomich», «Ukrayins`ka strategiya Grojsmana», «Opozy`cijna platforma – Za zhy`ttya», «Narodny`j front», «Svoboda», «Sy`la i chest`», «Partiya Shariya», «Sy`la lyudej», «Ukrayins`ka galy`cz`ka partiya» and «Nash kraj») received contributions made by 10 533 individuals and 261 legal entities, which is about 0.026% of the population of Ukraine. But one recent poll on the financing of political parties shows that the proportion of Ukrainians willing to donate to parties is much higher, at about 12%. This indicates a significant gap between the actual state of affairs and the desires and capabilities of voters, which should be taken into account by representatives of political parties to reduce their dependence on the state and big business. It was also found out that the average contribution to these 16 parties for the year was about UAH 200,000 (about USD 7,200). It is concluded that, given the public interest in the topic of financing of political parties, in the future it will be necessary to analyze how the situation got changed in 2020.
The purpose of this study was to determine how the quality of financial statement information on PT. Perkebunan Nusantara XIV is seen from biological assets recognition, measurement, and disclosure ...in terms of concept maqashid al-sharia and PSAK 69. This type of research is qualitative research with an interpretive paradigm approach. The results showed that PT. Perkebunan Nusantara XIV, in terms of recognition, measurement, and disclosure of biological assets, was by the applicable standards, namely the statement of PSAK 69: Agriculture. With the accounting treatment of biological assets following the applicable PSAK, the quality of financial statement information becomes relevant and reliable so that it makes it easy for users to understand financial statements. Especially for management, it can be used as the basis for making the right decisions. Judging from the concept of maqashid al-sharia, researchers have not been able to reveal the overall implementation of this concept in the work environment of PT. Perkebunan Nusantara XIV. Nevertheless, in applying the maqashid al-shariah concept, the head of the accounting and reporting division has implemented managing biological assets and preparing financial reports so that the financial reports are relevant and reliable.
•Dual-class structures create a gap (“wedge”) between voting and cash flow rights.•Wedge is correlated with older, smaller, more profitable, and less leveraged firms.•Larger wedge is associated with ...a higher quality of financial reporting.•Wedge does not incentivize earnings manipulation and thus should not be restricted.
Dual-class capital structures create a gap (“wedge”) between voting and cash flow rights. Our analysis indicates that the larger the wedge, the higher the quality of financial reporting, reflecting a tradeoff between the dilution of voting rights and enhancement of the credibility of information provided to investors. It suggests that increasing management’s insulation from the market for corporate control is stronger than agency costs, reducing motivation to manipulate earnings. Moreover, better quality reporting allows for attracting second-class investors who agree to a larger wedge. Therefore, concerning financial reporting, a nuanced regulation restricting wedge size may not be more effective.
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