Fair value accounting Research Papers (original) (raw)

2025, NovaVerse PlayWorks PLC -FY 20X5 IFRS Technical Memo

This technical memorandum provides a comprehensive IFRS-based solution to the NovaVerse PlayWorks PLC case study, which explores complex, interconnected financial reporting issues faced by a multinational edtech-toy conglomerate. The memo... more

2025, NovaVerse PlayWorks PLC -Comprehensive IFRS Case Study

This case study presents a comprehensive financial reporting scenario for NovaVerse PlayWorks PLC, a fictional but realistically constructed multinational edtech-toy conglomerate. It is designed to challenge advanced learners,... more

2025

Many accounting regulations are introduced in response to crises of some kind, arising from a corporate collapse or claims that published financial reports have been misleading. In contrast, the IASC's IAS 41 Agriculture standard was developed from the mid-1990s and issued in 2000, two years after the Australian AASB 1037 Self-Generating and Regenerating Assets (SGARA) standard, followed in 2004 by New Zealand's NZ IAS 41 Agriculture. There had been no prior crisis or public expression of concern about shortcomings in existing practice. This study considers the background to the emergence of accounting for agriculture onto the agenda of standard-setting bodies, and the role played by different insiders. Here, they are collectively termed 'gatekeepers', the key staff, expert technical advisers and decision-makers who were members of standard-setting boards. Examination of the development of these new standards extends beyond consideration of technical accounting issues. Several case studies identify the regulatory and political processes each standard-setting agency adopted to consider and then progress the topic through all rule-making stages and resulting lobbying activities by significant users. These political processes are examined using the Cobb and Elder (1972, 1983) agenda-building framework and the Cobb, Ross and Ross (1976) analysis of institutional dynamics. The history of accounting for agriculture, in Australia and New Zealand, is traversed to explain the historical background to the new omnibus agricultural standards promulgated in Australasia. Significant events described include the AASB staff recommendation to the IASB in 2003 to split IAS 41 in two before its designated 2005 commencement date -a recommendation which, so far, has been ignored. Project Brief and IASC Point Outline background proposals for each standard, the IASC's Field Test Report prior to adopting its IAS 41 standard and the AASB 1037 standard post implementation review -possibly the first ever to be undertaken. The study found that the activities of key insiders were consistent with what Cobb et al. (1976) described as the inside access model, both in placement of the topic on the agenda iii and then subsequent incorporation of proposals for fair value accounting for agriculture. A feature of the events described in this study was the interaction between the different standard-setting bodies -a possibility little-described in the accounting literature, and arguably a significant element in the manner in which standards were considered and developed by the IASC, and latterly the IASB. Overall, a combination of intra-and inter-agency lobbying resulted in compromise reflected in the final text of IAS 41. This modified the full fair value accounting proposal. The study found that gatekeepers paid little regard to submissions from experienced industry representatives, accountants, academics and other commentators world-wide. Practical evidence from parties concerning the utility of the proposed new rules was requested too late to influence the content of the final IAS 41 standard. Not surprisingly, the standard is still controversial.

2025, Current Journal

Enhanced transparency and consistency in financial reporting have led to better-informed decision-making by investors and other stakeholders. The current study emphasized the impact of the adoption of converged IFRS/ Ind AS on the... more

2025, Theoretical and Applied Economics

Abstract. The objective of this paper is to present a vision in the sphere of the problematic of assets and liabilities' evaluation that are reflected in the balance sheet of the insurance companies, inside the theory of the... more

2025, Financial Stability Review

2025

The purpose of this paper is to study a totally contact umbilical contact CRlightlike submanifolds of an indefinite para-Sasakian manifold. In this paper, we prove that a totally contact umbilical CR-lightlike submanifold is totally contact geodesic. Further, we obtain a necessary and sufficient condition for a CR-lightlike submanifold to be anti-invariant submanifold. Finally, we obtain the integrability condition of distributions and also characterize a contact CR-lightlike submanifold of indefinite para-Sasakian manifold to be a contact CR-lightlike product.

2025

The purpose of this paper is to study a totally contact umbilical contact CR- lightlike submanifolds of an indefinite para-Sasakian manifold. In this paper, we prove that a totally contact umbilical CR-lightlike submanifold is totally contact geodesic. Further, we obtain a necessary and sufficient condition for a CR-lightlike submanifold to be anti-invariant submanifold. Finally, we obtain the integrability condition of distributions and also characterize a contact CR-lightlike submanifold of indefinite para-Sasakian manifold to be a contact CR-lightlike product.

2025, Journal of Economics

Fair value accounting continues to be a topic of significant interest and debate among the preparers and users of financial information. Fair value continues to be an important measurement basis in financial reporting. It provides information about what an entity might realize if it sold an asset or might pay to transfer a liability. In recent years, the use of fair value as a measurement basis for financial reporting has been expanded, even as the debate over its usefulness to stakeholders continues. Determining fair value often requires a variety of assumptions, as well as significant judgment. Thus, investors desire timely and transparent information about how fair value is measured, its impact on current financial statements, and its potential to impact future periods. There are numerous items for which fair value measurements are required or permitted. ASC 820 and IFRS 13 ("the fair value standards") provide authoritative guidance on fair value measurement. The increased use of fair value requires companies to refresh measurement policies and procedures. Companies should analyze how fair value is determined when no active market exists, and establish procedures to develop the appropriate disclosures. Valuation professionals may need to be involved early in the process. Appropriate and robust disclosures in the financial statements are necessary to inform investors about measurement methods and uncertainty. The increasing needs for disclosures may require the establishment new processes and databases to record and report the information.

2025, Technium Social Sciences Journal

The research aims to demonstrate the impact of applying this measurement in improving the transparency of financial reporting and its application in Iraqi companies. A high level of transparency in the financial statements has been shown. It has been concluded that the level of transparency of the financial statements when choosing the fair value measurement is higher than the level of transparency when choosing the historical cost measurement, which helps in comparing the financial statements of the different economic units, and that the basis of comparison between it and the measurement based on Historical cost is to achieve the required amount of appropriateness characteristic and honest representation.

2025, Academy of Accounting and Financial Studies Journal

This study examined the view of stakeholders as to whether or not Fair Value Measurement (IFRS 13) increased disclosure will lead to more meaningful investment decisions. The study adopted the Survey research design involving the collection of data from auditors of the “Big 4” and accounting academics in selected private universities in Nigeria. Primary data were obtained through the administration of copies of survey questionnaire to respondents. Two hypotheses were formulated and tested using Peason Product Moment Correlation and Independent Sample T-test at a significant level of 5%. Findings from the study revealed an association between IFRS 13 increased disclosure requirement and investment decisions. The result also revealed differences in the standpoint of accounting academics and auditors regarding the impact IFRS 13 increased disclosure have on investing decisions. The study recommended that the Financial Reporting Council of Nigeria should ensure that all companies in Nig...

2025, Accounting Organizations and Society

When liabilities are accounted for at fair value, a deterioration of a company's credit risk results in the reporting of an income statement gain; an improvement in a company's credit risk results in a loss. Many argue that these income statement effects are counterintuitive and that financial statement-users are likely to misinterpret fair value gains as positive signals and fair value losses as negative signals. Utilizing an experiment with CPAs as participants, we find that these arguments are indeed valid. Specifically, we find that over 70% of the participants incorrectly assess a company's credit risk as improving (deteriorating) when a fair value gain (loss) is recognized. We also find that disclosures that explicitly specify the relation between the direction of the credit risk change and the income statement effect significantly reduce participants' misinterpretations, and are more beneficial when fair value gains versus losses are recognized. These findings provide empirical evidence in the debate over the recognition of company-specific credit risk changes and offer direction for improving disclosures in the area of fair value accounting.

2025

La valorisation du capital marque en tant qu'actif incorporel suscite un grand débat à la fois dans le monde académique et chez les praticiens. Face à l'absence de reconnaissance en comptabilité des marques générées en interne, la divulgation d'informations complémentaires pourrait être la solution la plus adéquate pour informer le marché sur la valeur de ces actifs incorporels. Toutefois, le grand nombre de méthodes d'évaluation financière des marques et l'absence d'un consensus sur l'utilisation d'une approche commune rendent la diffusion et l'acceptation de la valeur financière des marques comme un critère d'évaluation des entreprises sujettes à de nombreuses difficultés. Cet article étudie la pertinence de la valorisation financière des marques et son impact sur la capitalisation boursière des entreprises qui les possèdent. Sur la base d'un échantillon de 153 observations représentant les valeurs des principales marques internationales valorisées sur trois années successives (2007-2008-2009) par deux organisations spécialisées et indépendantes (Interbrand et Brand Finance), les résultats de notre étude démontrent la pertinence des valeurs des marques communiquées par ces deux organismes. Par ailleurs, une différence statistique apparaît lors d'une étude comparative démontrant une pertinence plus importante d'une méthode de valorisation des marques sur l'autre.

2024, Cuadernos de Administración. Universidad del Valle

This article examines how listed companies in Peru and Chile have applied the measurement and disclosure criteria for biological assets under IAS 41. Additionally, it seeks to determine the influence of variables such as country, type of audit firm, nature of the biological asset, investment in biological assets, company size, and profitability on these measurement criteria and disclosure levels. We used a quantitative approach, a descriptive-relational crosssectional study on the 2021-2022 financial statements, and a content analysis of the annual reports and Chi-Square, one-factor ANOVA, and Pearson correlation tests to test our hypotheses. The findings demonstrate that neither the country, type of audit firm, nor the type of biological asset impacted the measurement model. The disclosure level primarily includes descriptions of biological assets, agricultural activities, and financial risks; it is higher for Chilean companies and those audited by the 'Big Four' audit firms. There was a significant correlation between investment in biological assets and profitability with the level of disclosure, which is higher for companies with substantial investments in biological assets that seek greater transparency with their investors and creditors in their investment decisions.

2024, Jordan Journal of Business Administration

The main objective of this study is to investigate whether developments in financial reporting following the international financial reporting standards adoption resulted in financial statement information being more value relevant over time. This study focuses solely on quantitative methods and employs secondary data in addressing the research questions. The relevance of fair value revaluation has been investigated by studying its association with firm's future performance, measured by its operating income and operating cash flow. The theoretical framework of (Aboody et al., 1999) have been used to examine this relationship. A sample of Jordanian firms (consisting of commercial banks and real estate companies) listed in the Amman stock exchange during the 2008–2011 times period has been used. Our findings, based on multiple regression analysis showed that, firm's future performance measured by operating income or operating cash flow is significantly positively associated wi...

2024

Following the theories of gray and positive accounting this study examines the options in the measurement of assets and the usefulness of fair value. Using a sample of 104 Portuguese and Spanish companies with listed securities, the research analyzes factors associated with the fair value option and whether the listing incorporates this information. The results reveal a conservative behavior, where only 19% of companies use the fair value, specially the Portuguese (35%), confirming that the country of origin has a significant influence on this choice. The fair value option is more expressive on investment properties, and less expressive in intangibles. The sectors denote significantly different behaviors, and companies with higher quotes are more cautious using the fair value. The market reacts differently about the nature of this information. It is favorable to its sectorial utilization, reacting negatively to a more widespread use (Portugal), which supports the argument that the r...

2024, International Journal of Finance and Accounting

In this study, we compare the value relevance of two measures of earnings per share ; the level of Domestic earnings per share measures (Domestic EPS) co mputed with reference to the Glossary of the Tunis Stock Exchange by dividing accounting earnings by the number of shares that compose capital at the end of the fiscal year to the level o f Basic earnings per share measures (Basic EPS) based on International Accounting Standard (IAS 33 'earnings per share') co mputed by dividing 'Profit attributable to the ordinary shareholders' (the numerator) by 'the weighted-average number of ordinary shares in issue' (the denominator). Based on a sample of 389 firm years for firms listed on the Tunis Stock Exchange (TSE) during the period 1997-2008 and using pooled regressions, we find that although there is little difference between the two types of earnings measures, Domestic EPS are mo re associated to security returns and that the adjusted earnings per share to International Accounting Standards, resulting in Basic EPS, does not improve the relationship between earnings and security returns. Therefore, the use of the weighted-average number of ord inary shares in issue as denominator does not imp rove significantly the relationship between security returns and accounting earnings in Tunisian context. Fu rther tests show that the use of alternative measures of performance and/or the change of earnings variables does not imp rove the exp lanatory power of earn ings measures.

2024

There is an increasing recognition that annual reports need to better disclose the risks facing a company. Provision of a defined benefit scheme poses one of these risks as companies take on uncertain long term obligations to make future pension payments. This report addresses the issue of how companies should report this risk so that stakeholders can understand a company's exposure to pension risk. As well as providing an analysis of current defined benefit pension scheme risk disclosures by FTSE 100 companies, the report provides examples of current practice and suggests best practice for the future. The authors also make recommendations to the International Accounting Standards Board (IASB) on its current IAS 19 exposure draft and to the UK Accounting Standards Board (ASB). This project was funded by the Scottish Accountancy Trust for Education and Research (SATER) (for further details see page 49). The Research Committee of The Institute of Chartered Accountants of Scotland (ICAS) has also been happy to support this project. The Committee recognises that the views expressed do not necessarily represent those of ICAS itself, but hopes that the project will assist the standard setters in their deliberations on pension risk reporting requirements and guidance.

2024, Imes Discussion Paper Series

This paper examines the ways of providing information that will enhance the valuation role of accounting while not creating significant problems for its contracting role. Until the global financial crisis beginning in 2008, the accounting standards setters have gradually expanded the scope of fair value accounting. We examine the impact of the expansion of fair valuation on the use of accounting in contracts (private contracts and public regulations) and derive some hypothetical conclusions. First, there will be no significant problems in the contracting role of accounting, if information in the body of financial statements used directly in contracts is able to be revised and adjusted in a way that eliminates unrealized profit and valuation profit or loss with room for management estimation and discretion. Second, if one uses the standard of differences in business models to distinguish, from the perspective of the valuation role, between assets and liabilities subject to fair value measurement and assets and liabilities subject to cost-based measurement, there is considerable overlap between information that plays the valuation role and information that plays the contracting role. Finally, it is also found desirable that risk information, corporate governance information, and other similar information that is useful in contracts but has low verifiability be provided in the form of footnote information, etc. that supplements and complements information in the body of financial statements.

2024, Technium Social Sciences Journal

2024, Journal of Accounting and Public Policy

better predictor of future net income relative to comprehensive income. Our findings suggest that mandating all Canadian firms to adopt the new accounting standards is expected to enhance the usefulness of financial statements. Our findings, therefore, should be of interest to Canadian accounting policy makers as they provide ex-ante evidence on the potential usefulness of mandating firms to report comprehensive income and the components of other comprehensive income in their financial statements.

2024

Productive biological assets hold a special place in agricultural companies. A biological asset is a living animal or plant, such assets being included, from the accounting point of view, in the structure of tangible assets. We seek to present, in the pages of this article, the main aspects related to their recognition, assessment and accounting, combining the theoretical and the empirical research . We will make an incursion in the specialised literature and we will present the peculiarities of the accounting of the biological assets. The considerations underlying this article also take into account the fact that the productive biological assets are accounting structures approached in this field relatively recently, but, as we will prove herein, important for any agricultural unit.

2024, International Journal of Economics and Financial Issues

The purpose of this study to determine factors influencing the quality of financial reporting local government in Indonesia. The factor studied consist of commitment apparatus, role of internal audit, and accounting information system. The sample is picked up randomly by a random sample technique. The data collected is then tested for its validity and reliability so that the data is valid to be processed. The unit of analysis in this study is 66 unit tool of regency/city Indonesian local government . Hypothesis to be tested by a statistical t test: Ho is rejected if tcount > tcritical, ? = 0.05 level. The results showed that the commitment apparatus, role of internal audit have a significant effect on the quality of accounting information systems. Furthermore it was found that the quality of accounting information system has implications for the quality of financial reporting.

2024

Las Normas Internacionales de Contabilidad y de Información Financiera establecen que tanto los recursos como las obligaciones de una entidad deben ser presentadas, en los respectivos estados financieros, a su Valor Razonable, estableciéndose para ello, de acuerdo a su naturaleza y características, métodos de valuación así como el tratamiento de las diferencias que se produzcan entre el Valor Razonable determinado y el Valor en Libros. Dado este contexto el objetivo de este trabajo es revisar los métodos de valuación a Valor Razonable establecidos en las distintas Normas Internacionales de manera de desarrollar un modelo genérico de valuación de los recursos (obligaciones) tanto desde una perspectiva individual como de la sinergia que se producen al utilizarlos en conjunto e incorporando los objetivos de revisión del auditor de los estados financieros. Al concluir, se destaca que las normas contables hacen hincapié en la presentación del valor razonable de los recursos (obligaciones...

2024

This timely book is a rare, cogent analysis of the regulation of insurance companies from the point of view of economics. The topic of insurance regulation has come right to the fore in the policy debates in financial regulation, and rightly so given the pivotal role of insurance companies in the financial system as direct and indirect claimholders of banks and other leveraged institutions, as well as their long-term role in channeling savings for an aging population. And yet, the current framework for insurance regulation across the advanced economies is a patchwork of rules that have built up over years, based loosely on actuarial considerations, and which differ substantially from one jurisdiction to another without much rationale. This book sets the standard for debate in this important area. The book surveys the recent episodes of failures of insurance companies, reviews the actuarial basis for insurance regulation and its weaknesses, and proposes an economic rationale for insurance regulation based on capital as a way of mitigating moral hazard. The scholarship backing the book is impeccable, as would be expected from authors of such caliber, but the book has added authority arising from the fact that one of the authors (Plantin) also has first-hand experience as an insurance regulator. The book will be of wide interest to financial economists, and will be essential reading for policy makers in central banks and financial regulatory bodies. In time, this book will gain the status of (and be seen as a natural accompaniment to) Dewatripont and Tirole's classic on the prudential regulation of banks, and will be widely read and cited.

2024, Review of Accounting Studies

Some firms voluntarily make disclosures about the controls and processes in place to ensure the reliability of fair value estimates. Consistent with these disclosures being driven by investors' concerns about the reliability of their SFAS 157 estimates, we find that firms with more opaque estimates are more likely to provide such disclosures. We then examine whether these disclosures improve investors' perception about the reliability of fair value estimates. We find that they are associated with higher market pricing and lower information risk for Level 3 estimates. Further analyses of the disclosures reveal that the following types of information are particularly important to investors: discussion of the external and independent pricing of fair value estimates and their proper classification according to the SFAS 157 hierarchy. Overall, our results suggest that the voluntary reliability disclosures that firms provide beyond SFAS 157's three-level estimates help reduce investors' uncertainty toward the more opaque fair value estimates.

2024, SSRN Electronic Journal

This study examines the economic implications of fair value liability gains and losses arising from the adoption of Statement of Financial Accounting Standards No. 159 (hereafter, FAS 159). Consistent with the notion that gains and losses contain value-relevant information, we find a positive correspondence between a firm's FAS 159 fair value liability gains and losses and current period stock returns. However, further analysis indicates that fair value gains and losses from liabilities have a negative association with future returns, suggesting that investors misprice this earnings component. This negative association is stronger for firms with low levels of institutional ownership. While the value-relevance tests provide some evidence that fair value changes from liabilities have information content, the negative association with future stock returns suggests that these gains are eventually not realizable or that the market has overreacted to the initial recognition of these gains. Overall, our study contributes evidence regarding the controversy over the recognition of fair value liability gains and losses by providing direct empirical evidence that such gains and losses are priced by the stock market but subsequently reversed within the next 12 months.

2024, Advances in Accounting

We provide survey evidence of chartered accountants' perspectives on the proposed conceptual framework of the International Accounting Standards Board. Our survey obtains their views on the changes in the definitions of assets and liabilities, recognition criterion, and additional guidance in these areas, as well as issues relating to other comprehensive income, business model-based accounting, and choice of measurement basis. Our field evidence suggests broad consensus with respect to most of these changes. The areas that generate the most disagreement among our respondents relate to the removal of economic benefits in the proposed asset definition, the proposal to remove the minimum probability threshold from the asset recognition criterion, and the use of fair value as a measurement basis for certain difficult to measure assets. Overall, our results provide interesting insights regarding how chartered accountants view the proposed conceptual framework.

2024

This study examines the economic implications of fair value liability gains and losses arising from the adoption of Statement of Financial Accounting Standards No. 159 (hereafter FAS 159). We find a positive correspondence between a firm's FAS 159 fair value liability gains and losses and stock returns. Further analysis indicates that fair value gains and losses from liabilities attributable to the change in a firm's own credit risk, which are considered counter-intuitive by critics of fair value accounting for liabilities, are also positively related to returns. We also document that the volatility of earnings that incorporate FAS 159 liability fair value gains and losses is positively associated with market measures of firm risk. Our study contributes to the controversy over recognition of liability fair value gains and losses by providing direct empirical evidence that such gains and losses are value and risk relevant.

2024, SSRN Electronic Journal

Some firms voluntarily make disclosures about the controls and processes in place to ensure the reliability of fair value estimates. Consistent with these disclosures being driven by investors' concerns about the reliability of their SFAS 157 estimates, we find that firms with more opaque estimates are more likely to provide such disclosures. We then examine whether these disclosures improve investors' perception about the reliability of fair value estimates. We find that they are associated with higher market pricing and lower information risk for Level 3 estimates. Further analyses of the reliability disclosures reveal that the following types of information are particularly important to investors: discussion of the external and independent pricing of fair value estimates as well as the estimates' proper classification according to the SFAS 157 hierarchy. Overall, our results suggest that the voluntary reliability disclosures that firms provide beyond SFAS 157's three-level estimates help reduce investors' uncertainty toward the more opaque fair value estimates.

2024, Journal of Finance and Accounting

Prior research suggests there are significant differences in how investors perceive the reliability of fair values. An unaddressed question in this stream of research is whether crosscountry differences in institutional factors can mediate differences in reliability for the fair value hierarchy measurements. We contribute to the research on fair value accounting by examining the impact of institutional factors toward the perceived reliability of fair value measurements in an international context. Based on an international sample of banks across twenty different countries, we find that the probability of crash risk is lower among countries with better financial development infrastructure, greater level of trust, tighter security regulations and higher level of disclosure requirements. These results apply to Level 1 assets but not to Level 2 and Level 3 assets. We also document that these crosscountry factors improve the trading volume of our sample banks. Our study provides early evidence suggesting that fair value measurements across the fair value hierarchy are impacted by a country's institutional background and financial development as well as the extent of its securities regulation and disclosure level. Our study suggests that there are ongoing concerns toward opaque fair values which are not fully eliminated by institutional differences. In addition, these differences matter in influencing investor willingness to trade in these stocks.

2024

Loose Lips … I was very surprised that James C. Hickman in his article, "Actuarial Ideas That Helped Win World War II" (May/ June 2000) did not mention the work of actuaries attached to the operational research group called the Tenth... more

2024

Alhamdulilah Rabbil'alamin, kami panjatkan puji syukur kepada Allah SWT. Tuhan semesta alam yang telah melimpahkan karunia nya kepada kita semua, sehingga dengan berkat dan karunia nya kami dapat menyelesaikan makalah ini tepat pada waktunya. Dan tak lupa kami ucapkan terima kasih yang sebesar besarnya kepada bapak Wirmie Eka Putra, S.E.,M.Si. Yang telah memberi kami tugas untuk membuat makalah ini. Makalah ini berisikan tentang Penyusunan Anggaran Konvensional. Kami menyadari sepenuhnya banyak kekurangan dan keterbatasan, meskipun telah di sertai dengan usaha yang maksimal sesuai dengan kemampuan yang telah kami miliki. Oleh karna itu, segala saran dan kritik yang membangun sangat di harapkan untuk perbaikan makalah yang akan datang. Dengan ini kami berharap semoga makalah ini bermanfaat bagi semua pihak.

2024, Accounting Forum

The international Joint Working Group of Standard Setters (JWG) was established by the IASC (replaced by the IASB in 2001) and other national accounting standard setters for the purpose of developing a comprehensive set of principles for reporting financial instrument at fair value. In December 2000 the JWG issued a Draft Standard addressing the accounting for financial instruments and similar items. The proposals in the Draft Standard would affect existing accounting practice in many areas, including those related to the use of hedge accounting. This article states the main problems that could result from applying the provisions of that Draft Standard, offering some alternative approaches to overcome those problems.

2024, Finance and the Welfare State

This chapter concludes the book on financial evolution and regulatory regimes in Sweden. It summarizes the lessons learned from the Swedish experiences from banking development and banking regulations, and ends with discussing the question whether a new macroeconomic regime is being initiated. Keywords Financial crises • Macroeconomic regimes • Regulations Basel regulations • Social democracy This book provides an overview of the Swedish experience of financial regulation and development from around 1900 to 2015. It places special emphasis on the interaction between national and international phenomena and on how financial regulations are usually connected to larger shifts in general macroeconomic policy. This chapter distills a number of key points from the Swedish experience.

2024, China Journal of Accounting Research

As with many IFRS adopters, China's new accounting standards contain modifications to IFRS designed to reflect its unique environment (as discussed in detail later). However, for ease of exposition, we follow prior literature (e.g., He et al., 2012) and refer to the adoption of these new standards simply as IFRS adoption. 2 Our sample includes Hong Kong, which is a special administrative region of China. 3 The term ''foreign investors" and QFIIs are used interchangeably throughout the text.

2024, Business and Management Studies

The circumstances which led to the development of each of these methods of accounting will be examined to better understand the context in which each technique was to be incorporated and its effect. Analysis will be performed on whether the use of these accounting practices changed since their inception and if so, for what purpose. The researcher will discuss how and if these accounting procedures become instrumental in relation to the valuation of housing assets, particularly in America. As a result of the financial crisis, some experts have expressed the opinion that Fair Value Accounting as opposed to the historical cost approach exacerbated the housing crisis while others have developed opinions that Fair Value Accounting had no negative affect on the crisis and in fact allowed for greater transparency in disclosure. The finding will analyze the effect of Fair Value Accounting on the housing crisis and whether the historical cost valuation method would be more effective and less...

2024

In light of the upcoming Solvency II Pillar 3 disclosure regulation for the insurance industry, this paper explores the risk disclosure practices in annual reports of European primary insurers in the Dow Jones Stoxx 600 Insurance Index between 2005 and 2009. On the basis of a self-constructed risk disclosure index, the study examines the relation between the extent of risk disclosure and insurance companies' characteristics such as size, risk, profitability, ownership dispersion, cross-listing, home country and type of insurance sold, to draw inferences regarding motives for enhanced risk disclosure based on positive accounting theory.

2024

On February 16th, 2012, the European Commission published a White Paper entitled "An Agenda for Adequate, Safe and Sustainable Pensions". It proposes a series of measures related to information and monitoring, European harmonisation and portability, and pension design. After a short summary of some of the main challenges facing European pension systems, this paper discusses the Commission's proposals point by point.

2024

The purpose of this study is to review the risk management techniques that are applicable to asset and asset-liability management, in particular with regard to the implementation of the IFRS and the future prudential regulations, Solvency II, as well as the challenges facing managers in the scope of this implementation procedure. The work presented herein is the result of academic research and, as such, it is important to note that: • the opinions expressed in this study are those of the authors and do not engage the responsibility of either EDHEC Business School or AXA Investment Managers; • the conclusions reached in this study in no way engage operational decisions and are in no way linked to the positions that the AXA Group has adopted or will adopt with regard to the structure of the IFRS and Solvency II in the future.

2024, Social Science Research Network

We provide initial evidence on the economic consequences of a relatively large, fully disclosed, and apparently purposeful reporting decision: the balance sheet classification of shortterm obligations as long-term debt in accordance with Statement of Financial Accounting Standard No. 6. We examine a sample of 1,684 American firm-year observations between the years 1989 and 2000 to determine whether reclassification is associated with debt-ratings and equity values. We find that reclassification increases the likelihood of a subsequent debt-rating downgrade. We also find that market value decreases with increases in the amount reclassified, and that equity value is higher after firms cease reclassifying short-term obligations as long-term debt, compared with other firm-years in the sample. Thus, changes in debt classification are empirically linked in predictable directions to subsequent changes in debt ratings and stock values. Taken together, our results show that debt classification is an important publicly-available indicator that may be useful to capital market participants. We discuss several research extensions including the implications of our findings to European companies that convert to IAS in 2005.

2024, Journal of Business Finance & Accounting

2024

All rights reserved. Photocopies for personal use of the reader, not exceeding 15% of each volume, may be made under the payment of a copying fee to the SIAE, in accordance with the provisions of the law n. 633 of 22 april 1941 (art. 68, par. 4 and 5). Reproductions which are not intended for personal use may be only made with the written permission of CLEARedi, Centro Licenze e Autorizzazioni per le Riproduzioni Editoriali,

2024

This dissertation provides the views in the Insurance Paper 1999 developed by International Accounting Standard Committee's (IASC) Steering Committee. By the time the project is complete, a fair value accounting system for assets will be in place because as a result, liabilities should also be measured at fair values. Insurance contracts are either financial instruments or should be treated as if they were financial instruments. Fair value should be based on pools of similar contracts. Given the longterm nature of insurance contracts and the inherent uncertainties in the projection of the cash flows, the fair value measurement of insurance liabilities should include provisions for risk and uncertainty and thereby reflect the risks as perceived by the market. This dissertation has been divided into two categories (the difference), life insurance and non-life (general) insurance. No distinction should be made between general insurance and life insurance in designing a set of accounting standards for all insurance contracts. It is premature at this stage to recommend disclosure and presentation details before a better view of the accounting approach to be applied become available.

2024, JP Journal of Geometry and Topology

In the present paper, we study CR-submanifolds of Kaehler manifolds with respect to one Norden metric and radical transversal lightlike submanifolds of Kaehler manifolds with respect to other Norden metric. Further, we obtain a necessary and sufficient condition for a screen distribution and radical distribution of radical transversal lightlike submanifold of Kaehler manifold with Norden metric to be integrable. Also, we obtain some characterization theorems that provide the relation between the induced geometric objects of these two submanifolds.

2024, JP Journal of Geometry and Topology

2024, Kyungpook Mathematical Journal

In this paper, we introduce the geometry of contact CR submanifolds and radical transversal lightlike submanifolds of Sasaki-like almost contact manifolds with Bmetric. We obtain some new results that establish a relationship between... more

2024

Financial support from the PD Leake Trust (a charitable trust associated with the Institute of Chartered Accountants in England & Wales ['ICAEW']), with support from Deloitte and KPMG, is gratefully acknowledged for the research project into life assurance accounting of which this work forms a part. Grant applications are managed by the Centre for Business Performance ['CBP']. We are also grateful for the helpful comments of the members of the Academic Panel of the UK

2024, Journal of International Accounting, Auditing and Taxation

The aim of this paper is to examine the value relevance of fair value accounting of biological assets under IAS 41-Agriculture-using 389 firm-year observations of listed firms in 27 countries worldwide that had adopted IFRS, for the period between 2011 and 2013. In order to operationalize it as the ability of book value to explain market equity value, this study adjusts the original Ohlson model. The results confirm that recognized biological assets are value relevant at fair value and they are more value relevant in firms that exhibit higher disclosure levels. The same results were obtained when this analysis was conducted for bearer biological assets, but when it was applied to consumable biological assets, the results suggest that investors do not value recognized biological assets in firms that exhibit higher disclosure levels. Bearing in mind the current adjustments to IAS 41, according to which firms will be permitted to choose either the cost or the revaluation models for mature bearer plants under IAS 16-Property, plant and equipment-for annual periods beginning on/or after 1 January 2016, this paper seeks to help standard setters to better understand the market valuation implications of this standard.