Dissertations / Theses on the topic 'Contingent assets and contingent liabilities'
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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.
Full textLa 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
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.
Full textMenzies, 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.
Full textGraham, Allan Wayne. "Environmental Liabilities and Bond Yields." Diss., Virginia Tech, 2000. http://hdl.handle.net/10919/28937.
Full textPh. D.
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.
Full textJacobs, 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.
Full textThe 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.
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.
Full textLowe, 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.
Full textPrado, 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/.
Full textThe 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.
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.
Full textKieviet, 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.
Full textAFRIKAANSE 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.
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/.
Full textThe 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.
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.
Full textStaude, 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.
Full textPrado, 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/.
Full textThe 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.
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.
Full textBartušková, 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.
Full textMattos, 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/.
Full textThis 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.
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.
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.
Full textIncludes 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.
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.
Full textWang, Wei-Cheng, and 王偉丞. "Issuing Contingent Capital and Assets Substitution Problem." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/pm9u34.
Full text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.
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.
Full textAguiar, 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.
Full textAt 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.
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.
Full text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.
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.
Full textThe 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.
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.
Full textWang, 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.
Full text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.
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.
Full textThe 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
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.
Full textOnline 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