Standardization and harmonization of accounting practices is a fundamental element of a global business environment. Achieving this is a complex process that involves technical and political ...negotiation. The International Accounting Standards Committee (IASC) was the organization that pioneered this process on a world-wide basis. The IASC prepared the way for the International Accounting Standards Board (IASB) and its International Financial Reporting Standards, which since 2005 have held the dominant influence over the financial reporting of thousands of listed companies in the European Union, as well as in many other countries. The forces and influences that shaped the formation of the IASB were intimately connected with the historical organization and operation of its predecessor, the IASC, and so to understand the standards enforced in financial reporting today, a historical understanding of the IASC is required. Financial Reporting and Global Capital Markets does just this. It examines the history of the IASC from 1973 to 2000, including its foundation, operation, changing membership and leadership, achievements and setbacks, the development of its standards, and its restructuring leading up to the creation of the IASB in 2001. The book also studies the impact of the IASC's standards on national standard setting and on accounting practice in developed and developing countries, as well as the impact on the IASC of the policies and positions of the UN, the OECD, the US Securities and Exchange Commission, the International Organization of Securities Commissions, and the European Commission. It will be of vital interest to all concerned with accounting developments in a global environment, be they academics, policy-makers, or professionals. Available in OSO: http://www.oxfordscholarship.com/oso/public/content/management/9780199296293/toc.html
In dit artikel wordt verslag gedaan van een onderzoek naar de effecten van Brexit zoals toegelicht in de jaarverslaggeving 2020 en tussentijdse berichtgeving 2021 van 74 beursfondsen uit het Verenigd ...Koninkrijk, de Europese Unie en de rest van de wereld. De overgrote meerderheid van de ondernemingen uit het VK heeft een toelichting op Brexit opgenomen, veelal in het bestuursverslag in de toelichting op de risicobeheersing. Van de ondernemingen uit de EU licht de helft het effect van Brexit toe, terwijl ondernemingen buiten Europa dit relatief weinig doen. Slechts een kleine minderheid van de onderzochte ondernemingen heeft een toelichting in de jaarrekening opgenomen en slechts één onderneming heeft het effect gekwantificeerd. Het gerapporteerde (verwachte) effect van Brexit op ondernemingen en hun financiële verslaggeving is zeer beperkt.
Verslaggevingsstelsels schrijven voor dat ongerealiseerde resultaten op transacties met deelnemingen moeten worden geëlimineerd. Dit artikel bespreekt de methodes in drie verslaggevingsstelsels ...(Titel 9, IFRS en US GAAP) voor de eliminatie van ongerealiseerde resultaten, en de bezwaren die daarbij kunnen worden onderkend. De thans voorgeschreven methodes geven de economische realiteit van dergelijke transacties slechts gefragmenteerd weer. Dit artikel stelt een alternatieve methode voor die tegemoetkomt aan de geïdentificeerde bezwaren, en de economische realiteit beter weergeeft, door ongerealiseerde resultaten niet te elimineren, maar te beschouwen als minderheidsbelang, en mutaties te verwerken via de bestemming van het resultaat.
In this paper, we developed an approach for the empirical testing of the relationship between the financing choices of companies and the abnormal returns obtained by their shareholders. We innovate ...by incorporating controls on how this relationship is affected by the capabilities of each funding source, at different levels of returns, through quantile regression. The estimation of the model for a sample of Brazilian companies indicates the inexistence of a significant relationship between abnormal returns and debt issuance. The same occurs between abnormal returns and equity issuance, with one exception: when there is a deficit of internal financing that extrapolates the available safe debt and the abnormal returns are, at least, median, this relationship becomes significant and positive. Considered as a whole, the results suggest an indifference to the sources of funds used by the company. Among the contributions, we highlight the incorporation of the aforementioned controls, which bridges the gap identified in the literature relating business financial flows and stock returns.
In this paper, we developed an approach for the empirical testing of the relationship between the financing choices of companies and the abnormal returns obtained by their shareholders. We innovate ...by incorporating controls on how this relationship is affected by the capabilities of each funding source, at different levels of returns, through quantile regression. The estimation of the model for a sample of Brazilian companies indicates the inexistence of a significant relationship between abnormal returns and debt issuance. The same occurs between abnormal returns and equity issuance, with one exception: when there is a deficit of internal financing that extrapolates the available safe debt and the abnormal returns are, at least, median, this relationship becomes significant and positive. Considered as a whole, the results suggest an indifference to the sources of funds used by the company. Among the contributions, we highlight the incorporation of the aforementioned controls, which bridges the gap identified in the literature relating business financial flows and stock returns. KEYWORDS Financing Decisions, Pecking Order Theory, Abnormal Returns, Test Methodology Apresenta-se, aqui, uma proposta de abordagem para o teste empirico da relacao entre as escolhas de financiamento das empresas e os retornos anormais obtidos por seus acionistas. Inova-se com a incorporacao de controles sobre como essa relacao e afetada pelas capacidades de cada fonte de financiamento, em diferentes niveis de retornos, por meio de regressao quantilica. A estimacao do modelo para uma amostra de empresas brasileiras indica a inexistencia de relacao significante entre retornos anormais e emissao de divida. O mesmo ocorre entre retornos anormais e emissao de acoes, com uma excecao: quando ha deficit de financiamento interno que extrapola a divida segura disponivel e os retornos anormais sao, ao menos, medianos, essa relacao passa a ser significante e positiva. Analisados como um todo, os resultados sugerem certa indiferenca as fontes de recursos utilizadas pela empresa. Destaca-se, dentre as contribuicoes, a incorporacao dos controles aqui mencionados, que preenchem lacuna presente em analises que relacionam fluxos financeiros empresariais e retornos, na literatura revisada. PALAVRAS-CHAVE Decisoes de Financiamento, Pecking Order Theory, Retornos Anormais, Metodologia de Teste
Esta investigación ha tenido como propósito determinar la existencia de diferencias en el desempeño financiero entre universidades de investigación y universidades docentes en Chile. Se formularon ...indicadores empleando los estados financieros auditados anuales que las universidades reportan a organismos reguladores como lo son el Sistema de Información de la Educación Superior y la Superintendencia de Educación Superior. El estudio se aplica sobre una muestra de 53 instituciones para el periodo comprendido entre los años 2014 al 2021, construyendo así un panel de datos con variables sobre las cuales se han aplicado las pruebas estadísticas T-Student y el test no paramétrico de U Mann-Whitney. Los resultados muestran que no existen diferencias significativas en los indicadores de rentabilidad o márgenes. En cambio, si hay diferencias significativas en el resto de los ratios financieros analizados. Se concluye que las universidades de investigación presentan una situación financiera más robusta con respecto a las universidades docentes.
Issue that has arisen today in the management of public administration is good governance. Good governance can enhance organizational leadership, management and supervision, produce more effective ...interventions, and ultimately lead to better outcomes with improved community life. One of the form of government governance is financial statement accountability. The purpose of this study to provide empirical evidence regarding the effects of government governance and the effectiveness of internal audits on quality of financial statements. Sources of data obtained through field research conducted through observation, interviews and questionnaires and literature study. Data collection was conducted from March to July 2019 at the offices of regional work units in 8 districts / cities in the province of North Sulawesi, Indonesia. Returns the questionnaire at 58% of the amount distributed. Data collected were analyzed using Structural Equation Modeling with the path analysis method approach. The results showed that with an error rate of 0.05, good governance partially had a positive effect on the quality of the financial statements, the effectiveness of internal audit had a positive effect on the financial statements. Simultaneously good governance and the effectiveness of internal audit have a positive effect on the quality of local government financial reports.
This study focuses on the revenue recognition disclosure quality of a sample of 63 large Dutch legal entities applying revised DAS 221 and DAS 270 in their 2022 financial statements. A large majority ...of companies in our sample use a prospective method for transitioning to the revised standards, though many companies were not really transparent in disclosing the transition method used. Further, only a small portion of companies in our sample (35%) disclosed how the revisions impacted their solvency. Overall, we conclude that the effects of the amended guidance in DAS 221/270 appear to be limited in financial reporting practice and that disclosure quality varies to a large extent. Also, we recommend the DASB to add specific disclosure requirements to DAS 221
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