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Anamaría, Fernández Luz Pilar, and Bustamante Carmín Choque. "NIC 37: Provisiones, pasivos contingentes y activos contingentes y su impacto financiero y tributario en las empresas del sector textil del distrito de Ate Vitarte, Año-2018." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/653639.
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NIC 37 provisiones, pasivos contingentes y activos contingentes, impacto financiero, impacto tributario.
IAS 37 Provisions, Contingent Liabilities and Contingent Assets, financial impact, tax impact.La presente investigación tiene como finalidad evaluar la aplicación de la NIC 37 provisiones, pasivos contingentes y activos contingentes y su impacto financiero y tributario en las empresas del sector textil en el distrito de Ate Vitarte en el 2018, para lo cual demostraremos la manera correcta de reconocer y medir las provisiones, pasivos contingentes y activos contingentes, de manera que permita a los usuarios tomar decisiones. La investigación contiene los capítulos que se mencionarán a continuación: En el capítulo I correspondiente al Marco Teórico. Analizaremos las normas internacionales de información financiera, antecedentes tanto en el Perú como en el mundo, definiciones de la norma, objetivo, alcance, reconocimiento, medición, reembolso, información a revelar, impacto tributario y financiero y el estudio del sector textil. En el capítulo II, llamado Plan de Investigación, identificamos el problema principal de la tesis en estudio, problemas específicos, hipótesis principal, hipótesis específicas, objetivo principal y objetivos específicos. En el capítulo III, Metodología de Investigación, mencionamos la población y la muestra de estudio, la investigación cuantitativa y cualitativa y técnicas de investigación usadas. En el capítulo IV, Desarrollo de la Investigación, se realizó a través de la entrevista a profundidad a expertos en el tema de investigación, realizamos también una encuesta a contadores y el desarrollo de un caso práctico. Y, por último, en el capítulo V llamado Análisis de Resultados, se realiza el análisis del caso práctico y sus incidencias financieras y tributarias. Finalizando con la validación de nuestra hipótesis general y las hipótesis específicas, de acuerdo a los resultados obtenidos de las tablas cruzadas, alfa de cronbach y el chi cuadrado.
This thesis’s purpose is to determine the IAS 37 Provisions, Contingent Liabilities and Contingent Assets and its tax and financial impact in the textile companies located on Ate Vitarte district in 2018, for which we will demonstrate the right way of recognizing and measuring the Provisions, Contingent Liabilities and Contingent Assets in a way that allows the users to make any decision. The research contains the chapters mentioned below: On Chapter I, corresponding to the theoretical framework, we analyzed what follows: the International Financial Reporting Standard, precedents in Peru and around the globe, the standard definitions, the objective, the range, the recognition, the measure, the reimbursement, the information to be published, the tax and financial impact, and the textile market research. On Chapter II, named research plan, we identified the main and specific problems of the current thesis, the main and specific hypothesis, and the main and specific objectives. On Chapter III, named research methodology, we mentioned the population and the study sample, the quantitative and qualitative research, and the research techniques we used. On Chapter IV, for the research design, we did in-depth interviews to experts on the study field, we also surveyed accountants and developed a case study. Finally, on Chapter V, named results analysis, we analyzed the case study and its tax and financial rates. We conclude with the validation of our main and specific hypothesis according to the results obtained from tools like cross tabulations, Cronbach’s alpha, and the Chi-squared test.
Tesis
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Kortanová, Nikola. "Účetní zobrazení rizik u účetních jednotek veřejného sektoru." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-194009.
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The diploma thesis is devoted to presentation of risks in the financial statements of the public sector entities, where the main objective is to evaluate the degree of presentation of risks in the financial statements and to assess of the current legislation and its possible amendments. The first chapter deals with the definition of the public sector and defines the term "selected accounting entity". The following chapter describes the general concept of risks, focusing on the public sector and on generally accepted principles and guidelines of accounting, in particular the conservatism. The third chapter discusses the accounting law for selected accounting entities and selected instruments of the accounting presentation of risks, including the comparison with the IAS/IFRS, IPSAS and US GAAP. The last chapter is divided to the practical parts, which the first one is based on data analysis of Central System of Accounting Information of the State (CSUIS) and the second one on the evaluation of the questionnaire survey for addressed accounting entities.
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Menzies, John Alexander. "Sovereign contingent liabilities : a perspective on default and debt crises." Thesis, University of Oxford, 2014. http://ora.ox.ac.uk/objects/uuid:c25e36be-bd42-4a0f-9af6-42d17f87424f.
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Chapters 2-3: A global games approach to sovereign debt crises The first chapters present a model that investigates the risks involved when a fiscal authority attempts to roll-over a stock of debt and there is the potential for coordination failure by investors. A continuum of investors, after receiving signals about the authority's willingness to repay, decides whether to roll-over the stock of debt. If an insufficient proportion of investors participates, the authority defaults. With one fiscal authority, private information results in a deterministic outcome. When a public signal is available, the model behaves in a similar manner to a sunspot model. In line with much of the global games literature, improving public information has an ambiguous effect on welfare. Finally, the model is extended to include a second fiscal authority, which captures a similar sunspot result and illustrates the potential for externalities in fiscal policy. Lower debt in the less indebted authority can push a more indebted authority into crisis. Lower debt makes the healthier authority relatively more attractive, which causes the investors to treat the heavily indebted authority more conservatively. In certain circumstances, this is sufficient to cause a coordination failure. Chapter 4: A debt game with correlated information This chapter models of debt roll-over where a continuum of investors receives correlated signals on whether a debtor is solvent or insolvent. The investors face a collective action problem: a sufficient proportion of investors must agree to participate in the debt roll-over for it to be a success. If an insufficient proportion of investors participates in the deal, the debtor will default. The game has a unique switching strategy, which results in global uncertainty being preserved. The ex ante distribution of play (conditional on the true solvency of the debtor) follows a Vasicek credit distribution. The ex ante probability of a debt crisis is affected by the exogenous model parameters. Of particular interest is the observation that increasing private noise unambiguously reduces the probability of a debt crisis. Unsurprisingly, increasing the fiscal space or return on debt also decreases the probability of a crisis. Chapter 5: Bailouts and politics The final chapter examines the political-economic equilibrium in a two-period model with overlapping generations and a financial sector, which is inspired by the model in Tabellini (1989). The public policy is chosen under majority rule by the agents currently alive. It demonstrates that the bailout policy adopted in the second period has important effects on the bank's financing decisions in the first period. By adopting a riskier financing regime (i.e. higher leverage) in the first period, the older generation can extract consumption from the younger generation in the second period. Sovereign backstops of the financial sector are state-contingent: they can appear costless for long periods of time but eventually result in a socialization of private-sector debt. It is this mechanism that makes implementing capital requirements costly to investors yet beneficial to the younger generation. The model also highlights two important issues: (i) bank capital is endogenous and (ii) proposed resolution mechanisms must be politically credible. It suggests that a major benefit of increasing and narrowing equity-capital requirements or increasing liquidity ratios is that they are implemented ex ante and therefore available either to absorb losses in the event of a crisis or to reduce the possibility of large drops in asset values. Finally, this chapter also provides a structure by which to interpret the stylized facts of Calomiris et al. (2014): that more populist political institutions are associated with more fragile financial systems.
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Graham, Allan Wayne. "Environmental Liabilities and Bond Yields." Diss., Virginia Tech, 2000. http://hdl.handle.net/10919/28937.
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Environmental remediation liabilities are generated primarily as a result of past actions by a firm. The most important of these liabilities for domestic U.S. firms are related to Superfund sites as designated by the Environmental Protection Agency (EPA). These liabilities are important for domestic firms because of their size, which is estimated to be approximately $300 billion (Congressional Budget Office 1994) and because of public concern for the environment.
This study examines the relation among bond ratings, bond yields, and EPA-based estimates of contingent environmental remediation liabilities to test if the relationships hold as theory implies it would. Extant theory suggests that financial variables, such as environmental remediation liabilities, have incremental explanatory power beyond the information included in bond ratings for bond yield. The purpose of this study is to determine the importance of external estimates of a firm's contingent environmental liabilities for a firm's cost of debt. In addition, the manner in which a firm's contingent environmental liabilities are included in the costs of debt is examined in this study.
The results of this study indicate that external estimates for environmental liabilities are associated with the bond ratings and bond yield for a data set of new bond issues collected from the period 1995 to 1997. Despite that firms are increasing their recognition of environmental liabilities, either due to regulatory pressure or other factors, the measures based on EPA data still have significant explanatory power. The results imply that firms are either still lagging in appropriate recognition or that the external measures proxy for amounts imputed by the capital markets for some probable unspecified future costs. The latter explanation is supported by additional evidence in this study that the largest monetary measure of the liability is the most significantly associated with bond ratings and bond yields. Further, the results indicate that the external estimates are incorporated in bond ratings as part of the firm's default risk and have no direct influence over bond yield beyond that included in the bond ratings. This implies that bond ratings are particularly important for any evaluation of investment in debt securities from firms that have contingent environmental liabilities.Ph. D.
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Marais, Abrianne. "Income Tax – Sale of a going concern: Assumed Contingent Liabilities Clarification versus legislative reforms." Master's thesis, Faculty of Commerce, 2019. http://hdl.handle.net/11427/30962.
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The income tax consequences that flow from the assumption of contingent liabilities as part of the sale of a going concern is a contentious matter that continues to frustrate sellers and purchasers. The challenges faced by sellers and purchasers include inherent mismatches between the objects of accounting practice and that of income tax legislation; inconsistent policy formulation by National Treasury (Treasury) and the South African Revenue Service (SARS), and income tax legislation and case law that do not adequately recognise the economic effect of these transactions for sellers and purchasers. These, and other, challenges are highlighted and unpacked in this study by evaluating accounting standards, the Income Tax Act 58 of 1962 (ITA), case law and publications by SARS. In recent years there have been increasing calls for Treasury and Parliament to intervene by means of legislative reforms and for SARS to issue guidelines, in order to provide clarity regarding the income tax consequences for sellers and purchasers. New provisions and amendments to the ITA were proposed in the Draft Taxation Laws Amendment Bill of 2011 (draft Bill). The proposed legislative reforms were however withdrawn before the Taxation Laws Amendment Bill of 2011 was introduced in Parliament. Interpretation Note 94: Contingent Liabilities Assumed in the Acquisition of a Going Concern (IN94) was published by SARS during the latter part of 2016, with the aim of setting out principles which can serve as an interpretative guide for the determination of the income tax consequences for sellers and purchasers. This study investigates whether IN94 adequately addresses the challenges highlighted in this dissertation. The Davis Tax Committee, in its Report on the Efficiency of South Africa's Corporate Income Tax System, states that while SARS has attempted to address some of the shortcomings in respect of the taxation of contingent liabilities through interpretation notes and rulings, this is unsatisfactory as it is the legislation which requires amendment in order to address the shortcomings. In the final part of this study, the legislative reforms proposed in the draft Bill iv are evaluated, and the case is made for the reconsideration of comprehensive legislative reforms in order to create more certainty for sellers and purchasers.
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Jacobs, Angela. "The tax deductibility of contingent liabilities transferred in the sale of a going concern." Master's thesis, University of Cape Town, 2012. http://hdl.handle.net/11427/4638.
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Includes bibliographical references.The debate around the deductibility of transferred contingent liabilities, when a business is sold as a going concern has been raging for many years with no definitive guidance provided in legislation and limited court decisions on the issue, with the exception of the recent Ackermans Ltd v CSARS ("Acermans case") judgment and BCR 029 issued by SARS.
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Labre, Marcelo. "Pricing contingent claims on credit and carbon single and multiple underlying assets." Thesis, Imperial College London, 2010. http://hdl.handle.net/10044/1/5941.
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This thesis proposes alternative ways to price contingent claims written on portfolios of credit instruments as well as on carbon underlying assets. On the first topic of this research we tackle the pricing of Collateralized Debt Obligations (CDOs) by introducing two different approaches through the application of respectively Johnson SB distributions and entropy optimization principles, in contrast to market standard pricing approaches based on variations of the Gaussian copula model. The relevance of this topic is in line with the events that unfolded during the “credit crunch” of mid-2007 to early 2009, when CDOs made headlines as being responsible for more than $542 billion in losses through writedowns by financial institutions. On the second topic we propose a pricing methodology for Emission Reduction Purchase Agreement (ERPA) contracts. These are instruments based on carbon as an asset class and created by the emergence of an international carbon market that followed the adoption of the Kyoto Protocol (KP) to the United Nations Framework Convention on Climate Change (UNFCCC) in December 1997. ERPAs are of vital importance to the function of KP’s market mechanisms and the carbon markets at large as they formalize transactions of emissions reduction offsets between sellers and buyers, more specifically transactions involving Certified Emission Reductions (CERs). We propose a pricing methodology based on stochastic modeling of CER volume delivery risk and carbon prices as the two main drivers underlying ERPAs, and apply it to a case study on a run-of-river hydro power CDM project activity in China.
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Lowe, David F. "Valuation of mineral-linked assets : a contingent claim approach in the bauxite/aluminium industry." Thesis, University of Manchester, 2008. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.504697.
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This thesis is about the interface between theoretical and empirical practice in the evaluation of mineral asset investments. It takes the Jamaican Bauxite industry as a case study for applying a real option model for estimating the value of managerial flexibility in the context of the pre and post development stages ofa mine. The thesis begins from the position that classic DCF calculations understate the value of real options embedded in the mineral industry. To evaluate these options, this thesis replicates and extends the work of Trigeorgis (1996) by applying the model and method to an actual mineral study rather than an hypothetical case. It contributes by further explaining the non-additivity of options, and it compares alternative binomial models, investigating their properties and limitations, including convergence and accuracy ofthe numerical results. The thesis also briefly compares theory with practice. ill common with studies ofother industries (Davis, 1996), we find that mining firms in the bauxite industry use classical valuation methods of evaluation such as DCF. However, recent decisions in the Jamaican bauxite industry suggest that the mining firms make decisions which are either irrational, if based on classical valuation techniques, or can be explained by the implicit inclusion of some combination of real options (as in our case study) or by unrevealed terms negotiated with the host government.
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Prado, Fabricio José do. "Análise do comportamento da divulgação das informações sobre provisões e passivos contingentes das empresas do setor de energia elétrica listadas na BM&FBOVESPA." Universidade de São Paulo, 2014. http://www.teses.usp.br/teses/disponiveis/96/96133/tde-18082014-102308/.
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O objetivo deste trabalho é identificar o comportamento da evidenciação dos riscos potenciais representados pelas informações contidas nas provisões e passivos contingentes das empresas. O estudo analisou a divulgação das informações sobre riscos potenciais nas demonstrações contábeis dos exercícios de 2002, 2006, 2010 e 2012, utilizando como parâmetro as recomendações de órgãos normativos nacionais: 2012 foi o período mais próximo ao encerramento da coleta de dados, enquanto que em cada um dos demais períodos mencionados ocorreram mudanças significativas em termos de normas contábeis. O campo de pesquisa do presente trabalho constitui-se das notas explicativas das demonstrações financeiras das empresas do setor de energia elétrica, listadas na BM&FBOVESPA, dos exercícios mencionados. O setor de energia elétrica foi escolhido devido sua representatividade no mercado acionário brasileiro - 16,46% do total; à modernização na regulamentação contábil ocorrida como processo de privatização das empresas estatais; e por adotar normatizações internacionais na elaboração de suas demonstrações contábeis, contribuindo assim para a análise temporal proposta no presente estudo. No presente trabalho pode-se verificar a evolução dos informações que as empresas do setor de energia elétrica estão divulgando ao mercado, avaliando o comportamento das informações sobre riscos potenciais para os usuários das demonstrações contábeis. Os resultados encontrados mostram que as empresas do setor de energia elétrica tiveram evolução em sua divulgação de riscos potenciais principalmente entre os anos 2002 e 2006, fato este devido à modernização da regulamentação contábil neste período; nos períodos entre os anos 2010 e 2012, houve melhora na quantidade das informações sobre riscos potenciais, que o setor de energia elétrica passou a divulgar ao mercado, com relatórios mais detalhados, com maior número de evidências para que os usuários das demonstrações contábeis possam distinguir quais empresas apresentam maior risco e qual o nível de risco das companhias. Com isto pode-se verificar que as empresas do setor estudado apresentaram uma curva de aprendizagem conforme a evolução da legislação aplicável a matéria estudada.The objective of this work is to identify the behavior of the disclosure of the potential risks posed by information contained in provisions and contingent liabilities of companies. The study analyzed the dissemination of information about potential risks in the financial statements for the years 2002, 2006, 2010 and 2012, using as a parameter the recommendations of national standards bodies: 2012 was the closest to the closure of the data collection period, while in each of the remaining periods mentioned significant changes in terms of accounting standards. The search field of this study represents the notes to the financial statements of companies in the electricity sector listed on the BM&FBOVESPA, the exercises mentioned. The electricity sector was chosen due to its representation in the Brazilian market - 16.46 % of the total; modernizations in accounting regulation occurred as the privatization of state enterprises; and adopt international norms in preparing its financial statements, thereby contributing to the temporal analysis proposed in this study. In the present work can be seen the evolution of information that companies in the electric power industry are touting the market, evaluating the behavior of information on potential risks to users of the financial statements. The results show that companies in the electricity sector had developments in their disclosure of potential risks mainly between 2002 and 2006, a fact due to the modernization of accounting regulation in this period; the periods between the years 2010 and 2012 , there was an improvement in the amount of information about potential risks, the electricity sector began to disclose to the market, with more detailed reports, with more evidence that users of financial statements can distinguish which companies present greater risk and what level of risk companies. With this it can be seen that the companies analyzed sector showed a learning curve as the evolution of the material being studied applicable law.
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Kunz, Samantha Nicole. "From Legally Confidential to Financially Confident: Resolving the Tension between Lawyers and Auditors over Contingent Liability Disclosure." Scholarship @ Claremont, 2015. http://scholarship.claremont.edu/cmc_theses/1073.
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Auditors review documented financial figures to test for their accuracy and materiality. Lawyers analyze evidential facts and records to build sound legal arguments. These parties work toward a mutual purpose: to present their clients as legitimate and compliant businesses. But what happens when the concrete facts upon which lawyers and auditors base their work are obscured by their inability to see into the future? In other words, how can these professions conjunctively handle potential future obligations brought about by contingent liabilities?
This study will attempt to resolve the tensions that emerge between lawyers and auditors when tasked with estimating the likelihood and financial value of contingent liabilities. It considers the strict regulations set forth by the ABA and FASB and how each side might circumvent the guidelines to allow for better collaboration. Addressing a focal point of contention between the legal and financial professions for decades, this study will also look at past attempts at mediating the conflict as well as current proposals to alter the contingent liability disclosure process. Most importantly, it distinguishes itself from prior research by implementing firsthand arguments from professionals in each field to improve the cooperative landscape. Collectively weighing previously attempted solutions, current regulatory barriers, and professional guidance, this study proposes a three-step solution toward initiating reform between lawyers and auditors to enhance the visibility, precision, and ease of disclosing contingent liabilities.
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Kieviet, Suzanne, and Wyk E. Van. "Die aftrekbaarheid van werknemerverwante voorwaardelike aanspreeklikhede, met spesifieke verwysing na die verkoop of beeindiging van 'n besigheid." Thesis, Stellenbosch : University of Stellenbosch, 2010. http://hdl.handle.net/10019.1/15524.
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Thesis (MAcc)--University of Stellenbosch, 2010.AFRIKAANSE OPSOMMING: Die belastingaftrekbaarheid van werknemerverwante voorwaardelike aanspreeklik-hede, met spesifieke verwysing na die verkoop of beëindiging van ʼn besigheid, is in meegaande studie ondersoek. Dit word bevind dat in die geval van die beëindiging van ‘n besigheid, alle voorwaardelike aanspreeklikhede op datum van beëindiging van die besigheid, waarskynlik nooit vervul kan word nie, spesifiek in geval waar dit gekoppel is aan die vereiste dat ʼn werknemer op ʼn toekomstige datum steeds in diens moet wees van die besigheid. Die voorwaardelike verpligting word dus nooit vervul nie en geen betalings hoef aan voormalige werknemers gemaak te word nie. Geen aftrekking aan die voormalige werkgewer word dus toegestaan in gevalle waar verlof- of bonusbetalings gemaak word na beëindiging van die besigheid, indien die verpligting nie reeds onvoorwaardelik bestaan het voordat die beëindiging van die besigheid plaasgevind het nie. Dit word verder bevind dat in die geval waar ʼn besigheid gelikwideer word, die voormalige en voornemende werkgewer se verpligting teenoor die werknemers se voorwaardelike aanspreeklikhede verval. Verder is dit ook waarskynlik dat geen belastingaftrekking toegestaan sal word nie, omrede die voorwaardelike aanspreeklikheid nie vervul is op datum van likwidasie nie. Dit word verder bevind dat in die geval waar ʼn besigheid as lopende saak verkoop word, die voornemende werkgewer ingevolge Artikel 197 van die Wet op Arbeidsverhoudinge verplig word om alle dienskontrakte, tesame met alle regte en verpligtinge wat bestaan tydens die oordrag, oor te neem asof hy in wese in die skoene tree van die voormalige werkgewer. Voorts word die voormalige werkgewer ook gebind aan die betaling van bedrae, soos deur die verkoopskontrak bepaal, of andersins in gevalle waar die voornemende werkgewer nie die verpligting om te betaal, kan nakom nie. Beide die voormalige en voornemende werkgewer bly dus wetlik aanspreeklik vir die betaling van bedrae soos uitgestippel in die verkoopskontrak, in gevalle waar ‘n besigheid as lopende saak verkoop word. Dit word verder bevind dat die Inkomstebelastingwet ‘n belastingaftrekking moet toestaan aan die voormalige of voornemende werkgewer wat ‘n werknemerverwante-betaling maak uit hoofde van die wette soos neergelê deur die Wet op Arbeidsverhoudinge. Sodoende sal die Inkomstebelastingwet die oogmerke van die Wet op Arbeidsverhoudinge onderskraag, met gevolglike voordelige uitwerking op die ekonomie en beskerming van werknemers se werksekuriteit.
ENGLISH ABSTRACT: This study explores the tax deductibility of employee-related contingent liabilities, with specific reference to the sale or discontinuation of a business. It is concluded that in the case of the discontinuation of business activities, all contingent liabilities at the date of discontinuation (with the specific requirement that employees will still be employed by the business at a future date) will probably never be fulfilled. The contingent liability is thus never fulfilled and no payments need be made to the former employees. No tax deduction is therefore granted to the former employer where leave or bonus payments were made after the discontinuance of business activities, if the liability did not unconditionally exist prior to the discontinuance of the business. It is further concluded that in the case of the liquidation of a business, the former and prospective employers are released from any obligation towards the contingent liabilities of the employees. Furthermore it is also unlikely that any tax deduction will be granted, due to the contingent liability being unfulfilled at the date of liquidation. It is further concluded that in the case where a business is sold as a going concern, the prospective employer is obliged to take over all existing employee contracts as well as all rights and obligations existing at the time of transfer, in terms of Section 197 of the Labour Relations Act. The former employer is also bound to the payment of amounts, as stipulated by the contract of sale, or otherwise in cases where the prospective employer cannot honour the liability to pay. Both former and prospective employers are legally liable for the payment of amounts as stipulated in the contract of sale, in cases where a business is sold as a going concern. It is further concluded that the Income Tax Act should allow a tax deduction to the former or prospective employer who makes an employee-related payment in terms of the Labour Relations Act. As a result the Income Tax Act will support the objectives of the Labour Relations Act, resulting in a positive effect on the economy as well as the protection of employees’ work security.
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Teixeira, Lucelma Maria dos Santos. "A divulgação de provisões e passivos contingentes ambientais pelas empresas do setor de energia elétrica em comparação ao desenvolvimento da normatização da evidenciação contábil." Universidade de São Paulo, 2016. http://www.teses.usp.br/teses/disponiveis/96/96133/tde-12072016-105745/.
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O pressuposto desta pesquisa é de que a divulgação de informações ambientais, no âmbito das provisões e passivos contingentes, reagiu aos avanços na normatização contábil. A normatização contábil genérica sobre evidenciação de obrigações incertas era restrita, em meados de 1976, à Lei no 6.404, e assim permaneceu ao longo de pelo menos uma década e meia, quando começou a ser desenvolvida. Ao longo dos anos foram criados padrões obrigatórios de divulgação, com critérios de julgamento mais detalhados para a classificação da obrigação incerta em provável, possível ou remota. Embora ainda apresente algum grau de subjetividade, o desenvolvimento destes critérios pode ter contribuído para a diminuição da assimetria informacional: a empresa passou a contar com um conjunto de orientações mais claras e, portanto, com melhores condições de averiguar e divulgar suas obrigações incertas. Esse avanço contribuiu para que as obrigações ambientais passassem a ter maior exposição, principalmente no âmbito das empresas potencialmente poluidoras, como as do setor de energia elétrica, que utilizam recursos naturais e modificam o meio ambiente. Neste contexto, o objetivo deste estudo foi analisar as evidências de passivo ambiental divulgadas pelas empresas do setor de energia elétrica, de 1997 a 2014. Para tanto, foi desenvolvido um estudo qualitativo, descritivo e longitudinal, por meio da análise de conteúdo de 941 notas explicativas, de uma população de 64 empresas do setor de energia elétrica, de acordo com listagem na BM&FBovespa, em maio de 2015. A amostra foi constituída de 26 empresas, que divulgaram o total de 468 notas explicativas no site da CVM, de 1997 a 2014. Ao longo destes 18 anos, 14 empresas da amostra (53,85%) evidenciaram passivos ambientais ao menos uma vez e 12 instituições (46,15%) não o fizeram e, do total de 468 notas explicativas, 100 (21,37%) evidenciaram passivo ambiental. O número de evidências de passivos ambientais era pequeno em meados de 1997, mas ascendeu, com um aumento mais consistente a partir de 2006, ano que coincide com a aprovação da Norma e Procedimento de Contabilidade 22 - Provisões, Passivos, Contingências Passivas e Contingências Ativas, emitida pelo IBRACON. Adicionalmente, a materialidade quantitativa estava na média de 0,61% para provisões ambientais e 0,89% para os passivos contingentes ambientais, desconsiderando-se os outliers. A dimensão das notas explicativas, em termos de quantidade de palavras, foi crescente e diversificada. Em conclusão, a evidenciação contábil pode, em adição à evidenciação voluntária, ser um meio plausível para a divulgação de questões ambientais e redução da assimetria informacional, principalmente quando a normatização contábil se faz mais clara e detalhada.The assumption of this research is that the dissemination of environmental informations, under the provisions and contingent liabilities, reacted to developments in accounting standard setting. The general accounting regulation on disclosure of uncertain obligations was restricted to the Law no 6.404 in mid-1976, and remained so for over at least a decade and a half, when it began to be developed. Over the years mandatory disclosure standards were created, with more detailed judgment criteria for the classification of an uncertain obligation as probable, possible or remote. Although still carrying some degree of subjectivity, the development of these criteria may have contributed to the reduction of the information asymmetry: the company has now a set of clearer guidelines and, consequently, it is in a better condition to assess and disclose its uncertain obligations. A greater exposure ofthe environmental obligations was brought about by these advancements, especially in the context of potentially polluting companies, such as the electricity sector, which use natural resources and impact the environment. In this context, the aim of this study was to analyse the evidences of provisions and environmental contingent liabilities, diclosed by the eletricity sector, from 1997 to 2014. For this purpose, we developed a qualitative, descriptive and longitudinal study, using the content analysis of 941 notes, of a population of 64 companies in the electricity sector, according to listing on the BM&FBovespa, on May 2015. The sample is composed of 26 companies, which provided their financial statements on the CVM website from 1997 to 2014, and reported the total of 468 notes. Over the 18 years period analyzed, 14 of these companies (53.85%) showed at least one environmental liability and 12 (46.15%) did not, and, from the 468 notes, 100 (21,37%) reported environmental liability. The number of environmental liabilities evidences was small in mid-1997, but it rose progressively, with a more consistent increase from 2006, the year that coincides with the adoption of Accounting Standard and Procedure 22 - Provisions, Contingent Liabilities and Contingent Asset, issued by IBRACON. In addition, the quantitative materiality averaged 0.61% in the case of the environmental provisions and 0.89% for environmental contingent liabilities, disregarding the outliers. The notes extent, in terms of the number of words, showed growth and diversity. As a result, the accounting disclosure may be, in addition to the voluntary disclosure, a plausible way to divulge environmental issues and reduce information asymmetry, especially when the accounting standard-setting becomes clearer and more detailed.
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Awambu, Anozie Ikechukwu. "Power financing in a receding global economy : can capacity short countries enhance the viability of projects without exposure to contingent liabilities for market risks?" Thesis, University of Dundee, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.505611.
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Staude, Daylan. "The tax consequences of a contingent liability disposed of as part of the sale of a business as a going concern." Thesis, Rhodes University, 2015. http://hdl.handle.net/10962/d1017544.
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The sale of an entity as a going concern has a number of tax consequences for both the purchaser and the seller. The tax deductibility of a contingent liability upon its transfer from the seller to the purchaser, where the selling price has been reduced by the value of the contingent liabilities transferred, remains uncertain following the decision in Ackermans Ltd v Commissioner for the South African Revenue Service. An expense is either deductible under a specific section of the Income Tax Act, 58 of 1962, or under the general expense provisions in terms of sections 11(a) and 23(g). The Act does not contain a specific section relating to contingent liabilities and therefore a contingent liability will need to be considered for deduction under these sections. The Act further disallows an expense as a deduction under section 23(e), where a reserve is created (for example a leave pay provision). This study analyses the tax deductibility of a contingent liability, where the contingent liability has been transferred from the seller to the purchaser in a sale of an entity as a going concern and the purchase price has been reduced to compensate for the transfer of the contingent liability. The deductibility of the contingent liability was first assessed in terms of the provisions of the Act (sections 11(a), 23(g) and 23(e)) and associated case law. The decision in the Ackermans case and its preceding Income Tax Case 1839 was then analysed in order to establish the principles arising from the decisions. Finally the proposals in the Draft Taxation Laws Amendment Bill, 2011, and the subsequent Discussion Document issued by the South African Revenue Service were discussed. The analysis revealed the continuing confusion surrounding the status quo, thus demonstrating the importance of legislative intervention to provide guidelines for taxpayers.
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Prado, Thiago Alberto dos Reis. "Características institucionais dos países e práticas de evidenciação das provisões e passivos contingentes ambientais: um estudo internacional." Universidade de São Paulo, 2017. http://www.teses.usp.br/teses/disponiveis/96/96133/tde-05122017-102223/.
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Esta pesquisa objetiva investigar a relação entre as características institucionais dos países de origem das empresas, que adotam IFRS, e a evidenciação das provisões e passivos contingentes ambientais. Com base na Teoria Institucional, espera-se que as características institucionais dos países exerçam pressões sobre as práticas de evidenciação, indo de encontro aos objetivos do IASB de comparabilidade em nível global. A pesquisa tem como amostra 614 observações de 123 companhias do Brasil, Canadá, Reino Unido, França, Alemanha, Austrália e China, de setores que exploram o meio ambiente com mais intensidade. O período de análise compreende os anos de 2011 a 2015. Para a coleta de dados relativos à evidenciação de provisões ambientais e passivos contingentes ambientais (variáveis dependentes), utilizou-se a técnica análise de conteúdo nas notas explicativas das Demonstrações Financeiras anuais, com o intuito de gerar índices de disclosure, com a comparação do que é divulgado pelas companhias e as disposições sobre evidenciação da norma IAS 37. As outras informações (variáveis independentes) foram também coletadas nas Demonstrações Financeiras das companhias e nos indicadores emitidos pelo World Economic Forum, World Bank Worldwide Governance Indicators e pelo estudo de Hofstede (1980). Para identificar a relação entre a variável dependente e as variáveis independentes, empregou-se regressões com dados em painel com modelos estimados por meio da técnica de efeitos aleatórios. Posteriormente, avaliou-se a comparabilidade de maneira específica para cada uma das informações, por meio de Índices de Uniformidade, objetivando encontrar as principais dissimilaridades nas práticas de reporte. Os resultados obtidos com as regressões com dados em painel mostraram que o disclosure de provisões ambientais está relacionado com as variáveis de interesse dos sistemas político, financeiro e cultural do país de origem das empresas. No entanto, em relação a passivos contingentes ambientais, apenas a variável de interesse do sistema financeiro apresentou relação estatisticamente significativa com a variável dependente. As evidências de isomorfismo coercitivo e mimético encontradas permitem inferir que a evidenciação de passivos ambientais está relacionada com fatores múltiplos e conflitantes com o escopo de comparabilidade do IASB, o que prejudica este objetivo e sinaliza a não comparabilidade. Os achados da avaliação dos Índices de Uniformidade mostraram que há baixa comparabilidade em várias informações evidenciadas, tanto na dimensão within-country, quanto na dimensão between-countries e sugerem que a institucionalização das práticas de reporte encontra-se no estágio de objetificação. A principal conclusão deste trabalho é a de que, apesar de existirem pressões normativas para a existência da comparabilidade, há pressões institucionais conflitantes de outros atores sociais, de caráter coercitivo e mimético, fazendo com que as empresas, em busca de legitimidade, conduzam suas práticas de reporte estrategicamente, indo de encontro aos objetivos do IASB.The aim of this research was to investigate the relationship between institutional characteristics of companies\' countries of origin that adopt IFRS and the disclosure of environmental provisions and contingent liabilities. Based on the Institutional Theory, it was expected that the institutional characteristics of countries would exert pressures on disclosure practices, meeting the IASB\'s objectives of comparability at the global level. The study sampled 614 observations from 123 companies from Brazil, Canada, the United Kingdom, France, Germany, Australia and China, from sectors that exploit the environment with greater intensity. The period of analysis comprises the years 2011 to 2015. For data collection related to the disclosure of environmental provisions and environmental contingent liabilities (dependent variables), the content analysis was used in the notes of the Annual Financial Statements aiming at generating disclosure indices by comparing what is disclosed by companies and the disclosure provisions of IAS 37. The other information (independent variables) was also collected in the companies\' Financial Statements and in the indicators issued by the World Economic Forum, World Bank Worldwide Governance Indicators and the study by Hofstede (1980). To identify the relationship between the dependent variable and the independent variables, regressions with panel data were used, with models estimated using the random-effect technique. Subsequently, the comparability was evaluated in a specific way for each of the information through Uniformity Indices aiming at finding the main dissimilarities in the reporting practices. The results obtained with panel-data regressions showed the disclosure of environmental provisions related to the variables of interest of political, financial and cultural systems of the country of origin of the companies. However, regarding the environmental contingent liabilities, only the variable of interest of financial system showed statistically significant relation with the dependent variable. The evidence of coercive and mimetic isomorphism found allows us to infer that the disclosure of environmental liabilities is related to multiple factors and conflicting with the IASB\'s comparability objective, compromising it and signaling non-comparability. The findings of the evaluation of Uniformity Indices showed low comparability in several disclosed information, both in the within-country dimension and in the between-countries dimension, and suggest that the institutionalization of reporting practices is at the objectification stage. The main conclusion of this study is that, although there are normative pressures for the existence of comparability, there are conflicting institutional pressures of other social actors, of a coercive and mimetic character, making companies, in search of legitimacy, conduct their reporting practices strategically, contrary to the objectives of the IASB.
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Matějka, Jan. "Veřejné dluhy ve světě -- analýza stavu veřejných financí se zaměřením na země G20." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-75037.
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This thesis deals with the problem of public debt within the G-20 countries and the Czech Republic. The current state of public finances in these countries was analyzed through the so called Public Finance Checklist, which has been specifically developed for this thesis. The Checklist includes some public sector liabilities that are not a part of the conventional analysis of public sector debt. The results of analysis show that hidden liabilities constitute a significant part of the total amount of public debt in the analyzed countries. This fact presents a threat to stability of public finances. While the total public debt is increasing, governments aim to optically decrease the level of debt. The author assumes that the reason for such behavior is the arrangement of political system with missing corrective mechanisms of the principal-agent problem and moral hazard put into effect by political representatives. At the end of the thesis the author suggests some methods to fix the problems and restrict the growth of public debt.
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Bartušková, Lenka. "Alokace kupní ceny v rámci podnikových kombinací (IFRS vs. české účetní předpisy)." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-206020.
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This thesis focuses on business combinations according to IFRS and Czech accounting regulations. According to IFRS, Purchase Price Allocation (PPA) is a vital tool in acquisition reporting and therefore this paper mainly focuses on it. The theoretical part serves as a solid based for the empirical part, highlighting the main differences within the examined accounting types. The empirical part primarily focuses on setting the purchase price containing a contingent consideration, newly identified intangible assets and contingent liabilities reporting, and also net asset's fair value valuation to the acquisition date. The results show a major difference and drawbacks in using the Czech accounting regulations when solving business combinations.
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Mattos, Alexandre José Negrini de. "Maximização da utilidade esperada, planejamento tributário e governança corporativa." Universidade de São Paulo, 2017. http://www.teses.usp.br/teses/disponiveis/96/96133/tde-10082017-144501/.
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Esta pesquisa examinou se a tomada de decisão dos agentes considera os custos e benefícios do planejamento tributário e se boas práticas de governança corporativa reduzem o engajamento dos gestores na prática de planejamento tributário. Adicionalmente, investigouse a relação entre utilidade esperada/valor esperado do planejamento tributário e o endividamento das empresas. Para mensurar se a prática do planejamento tributário tem relação com a maximização da utilidade esperada do agente (maximização dos benefícios gerados), desenvolveu-se um modelo baseado na proposta de Alligham e Sandmo (1972), segundo a qual, a prática do planejamento tributário está relacionada a uma análise econômica dos custos e benefícios desta ação. As premissas utilizadas foram o período de 13 anos de discussão administrativa e judicial do débito tributário, correção do débito tributário, custo de capital de terceiros e encargos de 100% do valor do tributo (multa, juros e honorários advocatícios). Os resultados foram expandidos para diversos cenários de tempo (períodos de 8, 13 e 18 anos), encargos de 50%, 100% e 150% e variável dependente calculada com base nos valores registrados como passivos contingentes (notas explicativas), contingências fiscais prováveis (reconhecida nas demonstrações contábeis), e soma de ambas. Além disso, as análises foram feitas em nível (nominal escalonada pelo ativo total) e logaritmo. A amostra pesquisa foi composta pelas empresas brasileiras de capital aberto que fizeram parte do índice IBrX100 e abrange o período de 2008 a 2015. As análises empíricas confirmam que na maior parte dos casos a utilidade esperada do agente (valor esperado) é positiva, indicando que a tomada de decisão sobre a prática de planejamento tributário é fruto da maximização da utilidade esperada do agente, o que pode explicar os elevados números registrados de provisões e passivos contingentes nas demonstrações financeiras e notas explicativas das empresas. Além disso, identificou-se que regras rígidas de governança corporativa possuem correlação negativa com a utilidade esperada do agente, podendo ser considerada como um desincentivo à prática de planejamento tributário. Identificou-se ainda, que a variável endividamento apresentou correlação negativa com a utilidade esperada ou o valor esperado do planejamento tributário. A utilização de um modelo para avaliação da utilidade esperada/valor esperado do planejamento tributário pode contribuir para a melhor compreensão desse fenômeno e para a proposição futuras de políticas públicas.This study examined whether the decision-making of the agents considers the costs and benefits of tax avoidance and if good practices of corporate governance reduces the engagement of managers in the practice of tax avoidance. Additionally, it was investigated the relationship between the expected utility/expected value of tax avoidance and the indebtedness of the companies. In order to measure if the practice of tax avoidance is related to the maximization of the expected utility of the agent (maximization of the benefits generated), a model based on the proposal of Alligham and Sandmo (1972) was developed, according to which the practice of tax avoidance is related to an economic analysis of the costs and benefits. The premises used were the period of time of 13 years of administrative and judicial lawsuit, correction of the tax debt, cost of debt and charges of 100% (fine, interest and legal fees) over the tax unpaid. The results were expanded to several time scenarios (periods of 8, 13 and 18 years), charges of 50%, 100% and 150% and dependent variable calculated based on the amounts recorded as contingent liabilities (footnotes), tax provisions (financial statements), and sum of both. Furthermore, the analyses were done at level (nominal staggered by total assets) and logarithm. The research sample was composed of Brazilian publicly traded companies that were part of the IBrX100 index and covers the period between 2008 and 2015. Empirical analysis confirms that in most of the cases, the expected utility of the agent (expected value) is positive, indicating that the decision on the tax avoidance practice is a result of the maximization of the agent\'s expected utility, which may explain the large numbers of provisions and contingent liabilities in the financial statements and the footnotes of the companies. In addition, it was identified that rigid rules of corporate governance practices has a negative correlation with the expected utility of the agent, and can be considered as a disincentive to the practice of tax avoidance. It was also identified that the indebtedness variable presented a negative correlation with the expected utility or the expected value of the tax avoidance. The use of a model to evaluate the expected utility/expected value of tax avoidance can contribute to a better understanding of this phenomenon and to the future proposition of public policies.
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Leite, José Roque. "Evidenciação de provisões e passivos contingentes (IAS 37/CPC 25): análise comparativa entre Brasil e França." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/24516.
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Este trabalho compara o nível de atendimento de empresas brasileiras e francesas aos requisitos de divulgação definidos pelo IAS 37/CPC 25 - Provisões, Passivos e Ativos Contingentes. A amostra total foi subdividida em dois grupos: as 50 maiores empresas brasileiras e as 50 maiores empresas francesas (com base no faturamento) com ações negociadas no mercado de balcão norte-americano, sob a forma de American Depositary Receipts (ADRs), e as 50 maiores negociadas apenas em bolsa local. O índice de divulgação foi apurado a partir da leitura dos Balanços e Notas Explicativas do ano fiscal de 2016, com auxílio de um checklist dos itens de divulgação requeridos pela norma. Um primeiro resultado interessante se refere à diferença de comportamento em relação ao provisionamento de contingências: na França cerca de 87% das contingências estão provisionadas, enquanto no Brasil esse montante é de apenas 21%, ou seja, 79% das contingências reportadas nas demonstrações financeiras das empresas brasileiras não são reconhecidas no Balanço, sendo apenas divulgadas em Notas Explicativas. Em relação ao índice de divulgação, os resultados indicaram um nível de divulgação superior das empresas francesas em relação às brasileiras (uma média de 56,0% contra 48,9%, significante a 1%), condizente com a hipótese de que empresas listadas em países mais desenvolvidos economicamente tendem a divulgar mais. Além disso, o comportamento da divulgação entre as empresas francesas se mostrou bem mais condizente com o esperado a partir da literatura: empresas francesas com ADRs negociadas no mercado de balcão norte-americano tendem a divulgar mais que as negociadas apenas no mercado local; empresas maiores tendem a divulgar mais e empresas com maior montante de provisões para contingências também tendem a divulgar mais. Já no Brasil, ao contrário, foram encontradas evidências de um maior índice de divulgação entre as empresas negociadas apenas no mercado local que nas com ADRs no mercado de balcão, além de ter sido encontrada uma fraca correlação entre o índice de divulgação e as duas variáveis quantitativas analisadas: tamanho da empresa e materialidade das contingências provisionadas.
This study compares the compliance level of Brazilian and French companies in relation to the disclosure requirements defined by IAS 37/CPC 25 - Provisions, Contingent Liabilities and Assets. The total sample was subdivided into two groups: the 50 largest Brazilian and French (revenue-based) companies with shares traded on the US over-the-counter market in the form of American Depositary Receipts (ADRs), and the 50 largest traded only in local stock market. The level of disclosure was determined based on the reading of the Balance Sheets and Explanatory Notes for the fiscal year of 2016, with the support of a checklist of the disclosure items required by the standard. A first interesting result refers to the difference in behavior in relation to the provisioning of contingencies: in France, 87% of the contingencies are provisioned, while in Brazil this amount is only 21%, or 79% of the contingencies reported in the financial statements of Brazilian companies are not recognized in the Balance Sheet, but only disclosed in the Explanatory Notes. Regarding to the level of disclosure, the results indicated a higher level of disclosure by the French companies in relation to the Brazilian companies (an average of 56.0% against 48.9%, significant at 1%), consistent with the hypothesis that listed companies in most economically developed countries tend to disclose more. In addition, the behavior of disclosure among French companies proved to be much more consistent with that expected from the literature: French companies with ADRs traded in the US over-the-counter market tend to disclose more than those traded only in the local market; larger companies tend to disclose more and companies with larger amounts of provisions for contingencies also tend to disclose more. In Brazil, on the other hand, evidence of a higher level of disclosure was found among companies traded only in the local market than in ADRs in the over-the-counter market, and a weak correlation was found between the level of disclosure and the two quantitative variables analyzed: size of the company and materiality of the contingencies provisioned.
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Rossouw, Dewald Pierre. "The tax consequences for a seller (also briefly commenting from the perspective of the purchaser) when contingent liabilities are transferred in a sale of a business as a going concern with specific reference and evaluating income tax case no. 1839 : (South Gauteng Tax Court)." Master's thesis, University of Cape Town, 2010. http://hdl.handle.net/11427/11805.
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Includes summary.Includes bibliographical references (leaves 55-57).
The selling of a business as a going concern can have various tax consequences for both the seller and the purchaser. This is so whether the purchase price is determined with reference to the net asset value, i.e. gross assets less liabilities, or not. Accounting liabilities are always part of a business and therefore part of a business sales contract. The basic transaction is normally that some or all of the assets of the business are transferred to the purchaser who also assumes all or some of the liabilities of the business. The liabilities transferred may include various accounting provisions.
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Tichá, Veronika. "Zásada opatrnosti ve světově uznávaných účetních systémech." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-16662.
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This master's thesis is focused on a prudence principle under International Financial Reporting Standards (IFRS) a US Generally Accepted Accounting Principles (US GAAP) in accounting of a reporting unit. In the first part I described the prudence principle (conservatism principle) in the general way. In the second part of this thesis I introduced impairment testing, recognition of impairment of assets and reversal of previously recognized impairment of assets under IAS 36 Impairment of Assets. It is obviously focused on recoverable amount as a fair value less costs to sell and value in use, methods of the fair value valuation, computing value in use and identifying the appropriate discount rate to apply expected future cash flows. Third chapter of this master's thesis, named "Provisions under IAS 37", is dealing with relation between provisions and contingent liabilities, initial liability measurement and subsequent applying IAS 37. There are also stated disclosure requirements under IAS 37 (as well as under IAS 36). Within the scope of this part are in detail described Exposure Draft ED/2005 and Exposure Draft ED/2010/1 published from International Accounting Standard Board IASB in 2005 and 2010 as proposal to improvement of current version of standard IAS 37. This thesis is also focused on differences between accounting principles of prudence principle in IFRS and US GAAP. Finally, in the last chapter I analysed 15 annual reports of airlines companies in the world, which present their financial statements under IFRS. The results according to impairment of assets including goodwill, provisions and disclosures of contingent liabilities are presented in the charts. This master's thesis, named "Prudence principle in generally accepted accounting systems" is completed with practical insights and cases in each of chapters.
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Wang, Wei-Cheng, and 王偉丞. "Issuing Contingent Capital and Assets Substitution Problem." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/pm9u34.
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碩士國立交通大學
財務金融研究所
104
A contingent capital (CC) is a debt that can be converted into equity or be written down when the firm financial status suffers or when triggers predetermined in CC are met. Many financial institutions issue contingent capitals for satisfying capital requirements of Basel III. We consider the case that non-financial institutions can issue contingent capital. This paper analysis under the condition that a firm issues a junior (contingent) bond with existing senior debts. Contingent capitals can be separated into two types by their conversion targets. The first type can be converted into issuer’s equity, like reverse-convertible bond, dual triggers contingent convertible bond. The second type can be converted into another reference asset that is (highly) correlated with the issuer’s firm value, like gold-link bond, which can be replicated by a subordinated straight debt plus a shorting gold forward, and reverse-exchangeable bond. Then we analyze the asset substitution problem by trading the derivatives of the reference asset to eliminate the hedging effect of the second type CC. We analysis the impacts of raising different types of CCs on the optimal capital structure, the debt capacity, the credit enhancement effect, the claim dilution problem and the asset substitutions problem. According to our study, issuing subordinated debt and shorting gold-link forward has better effects on firm value and credit enhancement effect than issuing gold-link bond. Issuing reverse-exchangeable bond introduce more severe asset substitutions problem than other second type CCs. On the other hand, gold-link bonds perform like equity and have slight asset substitutions problems. Contingent capital which converts into equity has equity dilution problem, so the issuer may restrict debt issue amount to avoid the transfer of control rights.
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Hennes, Karen M. McKeown James C. "The reporting of contingent legal liabilities employment discrimination lawsuits /." 2008. http://etda.libraries.psu.edu/theses/approved/WorldWideIndex/ETD-2830/index.html.
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Aguiar, Yessica Karina de Sousa de. "Índice de conformidade da divulgação de informação no âmbito da IAS 37: análise a sociedades cotadas em quatro mercados bolsista europeus no ano de 2016." Master's thesis, 2018. http://hdl.handle.net/10071/17659.
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Atualmente, um dos principais objetivos da contabilidade passam pela produção
de informações uteis, quer quantitativas quer qualitativas, para a tomada de decisões por
partes dos distintos tipos de utilizadores (Stakeholders). A globalização e as evoluções
tecnológicas permitem velozes interações entre as empresas e a sociedade, pelo que a
correta, clara e precisa informação encontra-se em constante produção e renovação. Consequentemente, os mercados de capitais têm vindo a ser alvos de numerosas normas de
regulamentação para a promoção da harmonia entre as necessidades das distintas partes.
Contudo, nem todas as matérias são facilmente mensuráveis e explicáveis, principalmente quando na sua génese se encontram matérias contingentes (não exatas) como
no caso da IAS 37. As Provisões, Passivos e Ativos Contingentes dependem, indubitavelmente, do julgamento de quem elabora as Demostrações Financeiras, através de espectativas e/ou experiências passadas.
Nesta dissertação de mestrado, foram examinados os principais índices bolsistas
da Holanda (AEX), Bélgica (BEL20), Espanha (IBEX 35) e Portugal (PSI 20). Após as
análises, verificamos que as empresas apenas divulgam, em média, 60% dos requisitos
exigidos pela norma internacional sobre esta temática, e através da construção e interpretação de um Modelo de Regressão Linear, concluiu-se que apenas a pertença (ou não) à
Euronext, o valor do EBITDA e sua tradição contabilística dos países estão relacionados,
significativamente, com o Índice de Divulgação de Informação.At the present, accounting is aimed at the promotion of useful information, both quantitative and qualitative, for the decision-making of the different types of users – Stakeholders. Globalization and technological improvements allow for fast interactions between the companies and the society, and so, correct, clear and precise information needs to be constantly produced and renewed. As a result, capital markets have been subject to numerous regulatory requirements aimed at the promotion of harmony between the needs of the different parties. However, not all matters are easily measurable and explained, especially in the case of contingent (not exact) disclosures, as is the case of the ones required in IAS 37. Provisions, Liabilities and Contingent Assets undoubtedly depend on the judgement of who elaborates them, through future expectations and/or past experiences. In this master's dissertation, the main stock indexes of the Netherlands (AEX), Belgium (BEL20), Spain (IBEX 35) and Portugal (PSI 20) were analyzed. Throughout this analysis it was found that companies only publish, on average, 60% of the disclosure requirements, required by the international standard on this subject. Additionally, through the application and interpretation of a Linear Regression Model, it was concluded that whether the company belongs or not to a country of the Euronext, its EBITDA value and accounting tradition, significantly impacts its Information Disclosure Index.
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Huang, Ching-Yu, and 黃景榆. "Hedging Strategies Against Path-dependent and Multi-assets Contingent Claims." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/21961291966068005473.
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碩士國立中正大學
統計科學所
97
The construction of hedging strategies against path-dependent and multi-assets contingent claims is an important and challenged task in financial markets. In this study, we first consider the hedging strategy of path-dependent derivatives such as barrier options when the underlying asset follows a geometric Brownian motion process. We adopt the concept of the static hedging strategies proposed by Bowie and Carr (1994) and extend it to more general situations by establishing a linear combination of plain vanilla options. Next, similar ideas are utilized to hedge path-dependent and multi-assets derivatives such as Himalaya options. A minimum variance unbiased hedging strategy consisting of riskless bonds, the underlying assets and European options is proposed when the underlying assets follow correlated geometric Brownian motion processes. Simulation studies show that the proposed hedging strategies have good performance in hedging barrier and Himalaya options.
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Reis, Laura Nunes dos. "Provisions and contingent liabilities: a comparison between Portugal and the United Kingdom." Master's thesis, 2015. http://hdl.handle.net/10071/11519.
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JEL class system: M41 – Accounting; Z19 – Cultural Economics-OtherThe main objective of this dissertation is to compare companies from Portugal and UK concerning disclosure of contingent liabilities and recognition of provisions, since these are considered a source of creative accounting and to drive a parallel between differences found and the culture system of each country. Data was retrieved from databases and hand collected from financial statements of listed companies covering 2010 to 2013. Findings reveal that there are statistically significant differences on the amounts disclosed as contingencies or recognized as provisions by Portuguese versus British companies. However, they do not confirm the tendency for higher recognition in Portugal or a preference for disclosure in UK as Grays’ hypotheses for high secrecy (transparency) and high conservatism (optimism) in countries with high (low) uncertainty avoidance as Portugal (UK) suggest, giving rise to practices more associated with creative accounting in Portugal. Furthermore, findings expose that provisions and contingencies have a negative association with share prices, yet only statistically significant for contingencies. However, provisions reveal to be statistical significant after adapting the model to comprehend the effect of a risk committee on board of directors. Besides, the existence of this committee is value relevant to investors but this relevance is notwithstanding mitigated when considering Portugal against the total sample. Lastly, the study concludes that investors do value provisions differently from contingencies, yet this is not applicable when companies have a committee for risks, in which case they place a similar trust to both recognized and disclosed items assuming less creative accounting practices.
O objectivo desta dissertação é comparar empresas portuguesas e britânicas relativamente à divulgação de passivos contingentes e ao reconhecimento de provisões, dado que estes são considerados fontes de contabilidade criativa e, estabelecer um paralelo entre as diferenças encontradas e o sistema cultural de cada país. Os dados foram recolhidos de base de dados e manualmente dos Relatórios de Contas de empresas cotadas, desde 2010 a 2013. Os resultados mostram diferenças estatisticamente significativas nos montantes divulgados de contingências ou reconhecidos em provisões pelas empresas portuguesas versus britânicas. Contudo, não confirmam a tendência para um maior reconhecimento em Portugal ou preferência pela divulgação no UK como sugerido por Gray em que, elevado secretismo (transparência) e elevado conservantismo (optimismo) em países com elevada (diminuta) aversão à incerteza, como Portugal (UK), favorecendo práticas mais associadas à contabilidade criativa em Portugal. Adicionalmente, os resultados evidenciam que as provisões e contingências têm uma associação negativa com a cotação das acções, apenas estatisticamente significativa para contingências. No entanto, as provisões revelam-se significativas após a adaptação do modelo para captar o efeito de um comité de risco no Board de Directores. A existência deste comité é valorizada pelos investidores, sendo porém esta valorização mitigada quando considerando Portugal em relação ao universo da amostra. Finalmente, o estudo conclui que os investidores valorizam as provisões diferentemente das contingências, sendo isto não aplicável quando as empresas têm comité de riscos, caso em que os investidores atestam a mesma confiança a reconhecimentos e divulgações, assumindo menos práticas de contabilidade criativa.
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Ming-ShuHuang and 黃明樹. "Valuation of Contingent Pension Liabilities with Stochastic Interest Rate and General Default Model." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/07414427888686733186.
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Wang, Po-han, and 王柏翰. "A Study on Accounting Processes for Governmental Provisions,Contingent Liabilties and Assets." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/29848229591918201407.
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碩士開南大學
會計學系
101
To the Central Government's Year 2011 General Annual Report published by Directorate-General of Budget, Accounting and Statistics, Executive Yuan, ROC (Taiwan), Taiwan's annual unrealized liabilities in Year 2011 outnumbered fifteen trillion NT dollars. However, excessive governmental liability affects not only development of national economy but also the citizens' trust on the government; furthermore, the excessive media coverage on the issues arising from Government Employee's & School Staff's Insurance, Labor Insurance and Military Insurance has revealed the staggering high unrealized reliability leading to the risk of bankruptcy in short coming future; hence, it is desperate to launch earlier overall review and address the said situation with improvement solutions before any major turmoil arise. In reply to the situation, the authority already published the statements separately in 2005 and 2010 on the Accounting Processes for the Governmental Long-Term Liabilities, Assets and Governmental Provisions. In view of the urgency this study aims to examine in depth the Governmental Liability, Contingent Liabilities and Contingent Assets in Taiwan; and this Study puts focus on comparison and analysis between the practical Accounting Processes implemented in Taiwan and the processes requirements provided in International Public Sector Accounting Standards, Statement of U.S. Federal Financial Accounting Standards Advisory Board, and Statement of Governmental Accounting Standards Board; and finally presents some proposals addressing the pitfalls found on the said statements. This study adapts the method of interview for survey, taking experts practicing the processes and the experts in the academic and scholastic sectors as subjects, and conducts aggregative compilation and analyses on the results of the themes including retirement pension and social welfare, etc, and eventually presents some suggestions and proposals against the governmental accounting statements.
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Boakye, Stephen. "Income tax treatment of the transfer of contingent liabilities during the sale of a business." Thesis, 2018. https://hdl.handle.net/10539/26813.
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A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Master of Commerce (specialising in Taxation),2018The objective of this report is to analyse the South African income tax consequences of the assumption of contingent liabilities such as leave pay provisions and bonus provisions during the transfer or sale of a business. This report will consider two methods utilised to transfer contingent liabilities as part of a sale of a business. An analysis of how these two methods have been derived will be performed as part of this report. The report will then consider the income tax implication of the transfer of contingent liabilities under each of the methods. Overall, this report will critically analyse the income tax implications of the assumption of contingent liabilities during the sale of a business. A business generally consists of assets and liabilities. Businesses are often sold as a single unit although for income tax purposes, a distinction would have to be made on the particular assets sold.1 The current South African Income Tax Act caters for the income tax implication of selling assets in a business.2 It however seems to be silent on the income tax implications in instances where liabilities including contingent liabilities are assumed as part of the sale of assets.3 As a result, the income tax implication is subjected to the general tax principles which sometimes yield uncertainties from a taxpayer’s perspective. In an effort to clarify uncertainties in relation to the income tax implication of the assumption of contingent liabilities as part of the sale of a business, the South African Revenue Service in December 2016 released Interpretation Note 94. This report will, firstly, test the legal nature of Interpretation Notes with specific reference to reliance being placed on such Interpretation Notes in relation to the interpretation of the Income Tax Act. This report will, thereafter, critically examine Interpretation Note 94 in order to assess whether or not the aforementioned uncertainties have been addressed. In conclusion, this report aims to contribute to the understanding of the income tax consequences of the assumption of separately identifiable contingent liabilities as part of the sale of a business.
XL2019
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Hansraj, Shivona. "An analysis of the income tax consequences attendant upon the transfer of contingent liabilities in the sale of a business as a going concern." Thesis, 2017. https://hdl.handle.net/10539/24774.
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A research report submitted to the Faculty of Commerce, Law and Management in fulfilment of the requirements for the degree of Master of Commerce (specialising in Taxation), 13 September 2017Online resource (iii, 61 leaves)
The transfer of contingent liabilities as part of a sale of business transaction has always been a contentious issue. In particular, there is still a measure of uncertainty in whose hands, if any, contingent liabilities transferred as part of a sale of business may be deductible. Sale of business agreements may be structured in various ways, for example, the purchaser may acquire the seller’s business in exchange for cash, the creation of a loan account, or the assumption of liabilities. Furthermore, in the context of intra-group transactions to which the group roll-over relief provisions apply, the Income Tax Act 19621 (‘the Income Tax Act’) does not specifically address the transfer of contingent liabilities. This research report addresses the income tax consequences arising from the transfer of contingent liabilities from the seller to the purchaser, including an analysis of the relevant group roll-over relief provisions. Key words: Ackermans Judgment, Actually Incurred, Contingent Liabilities, Free-standing Contingent Liabilities, General Deduction Formula, Group roll-over relief, Interpretation Note 94, Sale of Business Transaction, SARS.
GR2018