Academic literature on the topic 'Fair Value Disclosure'
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Journal articles on the topic "Fair Value Disclosure"
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Salzsieder, Leigh. "Fair Value Opinion Shopping." Behavioral Research in Accounting 28, no. 1 (July 1, 2015): 57–66. http://dx.doi.org/10.2308/bria-51238.
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ABSTRACT This study reports the results of an experiment designed to provide empirical evidence related to fair value opinion shopping. The experiment provides initial evidence that managers are likely to shop for fair value opinions from external valuation professionals in the absence of a requirement to disclose that behavior to the board or auditor. Disclosure becomes a meaningful deterrent when the beneficiary of opinion shopping is perceived to be the manager. However, disclosure is an ineffective deterrent when the beneficiary is perceived to be shareholders.
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Zhang, Yi, Gin Chong, and Ruixin Jia. "Fair value, corporate governance, social responsibility disclosure and banks’ performance." Review of Accounting and Finance 19, no. 1 (November 13, 2019): 30–47. http://dx.doi.org/10.1108/raf-01-2018-0016.
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Purpose The purpose of this paper is to investigate the interaction between mandatory disclosures and voluntary disclosures of banks and the information content of corporate disclosures on firm performance. Design/methodology/approach Based on the US-listed banks from 2007 to 2015, this paper examines the interplay among the fair-value measurement, corporate governance disclosure and voluntary social responsibility disclosure. In addition, the paper examines the extent of such disclosure of mandatory items (fair-value measurement) versus voluntary items (corporate governance and social responsibility issues) on banks’ performance in terms of their return on equity and return on asset. Findings This paper finds that banks with a higher social responsibility disclosure score and stronger corporate governance tend to have lower percentages of Level 3 fair-value assets. Banks with a higher Level 3 fair-value asset disclosure have a lower financial performance. Practical implications This paper provides evidence of the interplay of various corporate disclosures by banks and implies that banks use fair-value measurements to disguise their poor performance. The findings provide insights for the policymakers, investors and regulators to assess banks’ disclosure. Originality/value This paper extends the study of banks’ fair-value measurements and is the first study to examine the interaction between voluntary and mandatory disclosures. This study sheds lights on the theories of performativity, agency and stakeholder by demonstrating the information contents of corporate disclosures on firm performance.
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Annabi, Amira, and Alicja K. Reuben. "On Post-Crisis Banks’ Fair Value Measurement Disclosure." Journal of Research in Administrative Sciences 9, no. 1 (June 15, 2020): 1–11. http://dx.doi.org/10.47609/jras2020v9i1p1.
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Roggi, Oliviero, and Alessandro Giannozzi. "Fair value disclosure, liquidity risk and stock returns." Journal of Banking & Finance 58 (September 2015): 327–42. http://dx.doi.org/10.1016/j.jbankfin.2015.04.011.
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Alfarisyi, Naupal, Yossi Diantimala, Rizal Yahya, and Muhammad Saleh. "Biological Assets and Firm Value: Do Fair Value Measurement and Disclosure Matter?" Jurnal Dinamika Akuntansi dan Bisnis 9, no. 2 (September 23, 2022): 205–22. http://dx.doi.org/10.24815/jdab.v9i2.24694.
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This study aims to investigate whether value of biological assets measured by fair value and disclosure of biological assets has influence on firm value. The samples are agricultural companies listed on the Indonesia Stock Exchange between 2018 and 2020 with 51 firm-year observations. Using multivariate analysis, this study found that value of biological assets measured by their fair value has a significantly positive effect on firm value, while the disclosure level of biological assets does have impact on firm value. The control variables, namely profitability, leverage, and growth, significantly affect firm value. This study provides a new perspective and empirical evidence in the research topic because this research focuses on the impact of the application of Indonesian statement of financial standard No. 69 regulating fair value of assets and disclosure of biological assets on firm value.
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Müller, Maximilian A., Edward J. Riedl, and Thorsten Sellhorn. "Recognition versus Disclosure of Fair Values." Accounting Review 90, no. 6 (January 1, 2015): 2411–47. http://dx.doi.org/10.2308/accr-51044.
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ABSTRACT This paper examines pricing differences across recognized and disclosed fair values. We build on prior literature by examining two theoretical causes of such differences: lower reliability of the disclosed information, and/or investors' higher related information processing costs. We examine European real estate firms reporting under International Financial Reporting Standards (IFRS), which require that fair values for investment properties, our sample firms' key operating asset, either be recognized on the balance sheet or disclosed in the footnotes. Consistent with prior research, we predict and find a lower association between equity prices and disclosed relative to recognized investment property fair values, reflecting a discount applied to disclosed fair values. We then predict and find that this discount is mitigated by lower information processing costs (proxied via high analyst following), and some support that it is also mitigated by higher reliability (proxied via use of external appraisals). These latter results are documented using subsample analyses to test one attribute (either information processing costs or reliability) while holding the other constant. Overall, these findings are consistent with fair value reliability and information processing costs providing complementary explanations for observed pricing discounts assessed on disclosed accounting amounts. Data Availability: Data are available from public sources identified in the manuscript.
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Bens, Daniel A., Mei Cheng, and Monica Neamtiu. "The Impact of SEC Disclosure Monitoring on the Uncertainty of Fair Value Estimates." Accounting Review 91, no. 2 (August 1, 2015): 349–75. http://dx.doi.org/10.2308/accr-51248.
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ABSTRACT We investigate the role played by the Securities and Exchange Commission (SEC) in monitoring fair value disclosures in regulatory filings. Specifically, we assess whether SEC action via the issuance of fair value comment letters to registrants is followed by reductions in uncertainty about the firms' fair value estimates. We hypothesize that registrants that receive a comment letter focusing on their fair value disclosure policies experience reductions in investor uncertainty regarding their fair value estimates in the post-letter period, compared to the pre-letter period. Supporting this prediction, we find that for the periods after the fair value comment letters, the associations between Level 2 and 3 fair value assets and our measures of uncertainty are significantly reduced. These findings are robust to a series of tests designed to ensure that we do not simply capture general changes in market uncertainty levels for firms investing in these types of assets. Our study contributes to the further understanding of market participants' perception of fair value disclosures by investigating the role of SEC enforcement. This finding is important given recent criticisms of fair value reporting emanating from the highest levels of government and industry. Data Availability: Data are available from public sources identified in the paper.
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Gudonytė, Birutė, and Kristina Rudžionienė. "The relationship between the financial crisis and the measurement of fair value in financial statements." Buhalterinės apskaitos teorija ir praktika, no. 15 (April 10, 2014): 43–51. http://dx.doi.org/10.15388/batp.2014.15.4.
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Literature suggests that the main goal of fair value evaluation is more reliable and relevant information disclosure to external users. However, in 2007, at the beginning of the global financial crisis, the benefits of fair value, as well as the opportunity to provide information about the true and fair view of a company, were called into question. Opponents of the fair value claim that the fair value was the main reason for the global financial crisis, but the advocates disagree; therefore, the correlation between the fair value and crisis is controversial. It reflects the problem of the thesis: how the system of fair value accounting influenced the financial crisis?
Object of the paper: the method of true value measurement.
Aim of the paper: to evaluate the measurement of fair value and its potential impact on the financial crisis in Lithuania.
After analysing the evaluation of 25 Lithuanian listed companies by disclosure of fair value, it can be state that stock companies evaluate more property than liabilities by disclose the fair value. A correlation coefficient was determined while assessing the correlation between the application of fair value in financial reports and financial crisis in Lithuania, but it disapproved the correlation.
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Druzhilovskaya, Emilia Sergeevna. "New disclosure requirements for fair value in financial statements." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 02 (February 4, 2022): 6–16. http://dx.doi.org/10.33920/med-17-2202-01.
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Currently, fair value is already actively used in the Russian Federal Accounting Standards (FAS). To an even greater extent, the projects of the new FAS are expanding the scope of application of this value in domestic accounting. As a result, in the future there will most likely not be a single item of accounting for which fair value is not used. Thus, the rules related to the fair value are becoming more and more relevant. It should be noted that the FAS does not establish these rules, but refers organizations (including healthcare organizations) to the regulations of the International Financial Reporting Standard (IFRS) 13. This standard, in turn, is currently at the stage of amendments. Thus, the developers plan to make significant adjustments to the requirements for disclosure of information about fair value in financial statements established by this standard. Since these changes may also affect Russian accounting (due to the active use of such value in it), it is necessary to analyze in detail the above new requirements already now to be ready for their application in the future. In addition, this analysis will also be relevant for numerous domestic organizations that prepare their financial statements in accordance with IFRS. This article is devoted to the study of the above issues. Analysis and synthesis, grouping method, comparison, analogy method, systemic approach, logical approach were used as research methods. As a result of the research carried out, the new requirements of IFRS 13 for disclosure of information about fair value in financial statements are subdivided in the article into groups and subgroups, and a critical analysis of the relevant regulations relating to these groups has been carried out. At the same time, the article identified the main problems in this area and identified ways to solve them.
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Magpantay, Damito Doria. "How to Report Receivables at Fair Value?" International Journal of Accounting and Financial Reporting 3, no. 1 (June 2, 2013): 189. http://dx.doi.org/10.5296/ijafr.v3i1.3710.
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The problem of asymmetric information faced by creditor-firms arising from deceitful manipulation of credit information by debtor-firms lingers because current disclosure standards fail to capture relevant information about the measure of creditworthiness of debtor-firms.
Dissertations / Theses on the topic "Fair Value Disclosure"
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Ezdri, Elon. "Is there a casual link between disclosure for fair value assets and information asymmetry?" Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-297730.
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Following an attempt to harmonize the U.S. GAAP and IFRS a new IFRS standard became mandatory in the EU known as IFRS 13 “Fair value measurement” in 2013. The new accounting standard aims to decrease inconsistencies with fair value measurement by introducing new disclosure requirements for fair value assets with no active market (level 3). This study investigates how well Swedish listed firms have complied with the new disclosure requirements, and whether their compliance level has affected the information asymmetry between market participants. The sample consists of Swedish listed firms from Nasdaq OMX within the banking, forestry and real estate industry where fair value assets on level 3 are prevalent. The result revealed that Swedish firms had increased their compliance level with the disclosure requirements; furthermore, the regression analysis indicated a negative relation between an increase in disclosure level and information asymmetry after controlling for some variables. However, since the result was not significant suggestions for future research is to increase the sample size outside of the Swedish context.
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Tan, Chyi Woan. "Accounting for financial instruments : an investigation of preparer and user preference for fair value accounting /." Access via Murdoch University Digital Theses project, 2005. http://wwwlib.murdoch.edu.au/adt/browse/view/adt-MU20051011.123944.
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Hinestroza, Evelin, and Norin Gustaf Pettersson. "Fair Value Disclosure Requirements - A study of Investment property valuations in Sweden before and after IFRS 13." Thesis, Umeå universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-126923.
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The new accounting standard IFRS 13 had its mandatory implementation January 1 st 2013. The main reason for the implementation was to eliminate inconsistencies and reduce complexities in fair value measurements. The new disclosure would therefore enable public real estate companies to be more transparent towards investors, who base their financial decision on the information that is presented in the financial report. Since the market value of investment properties is important for investors when making their financial decisions, this study focuses on the disclosure requirements of IFRS 13 in Sweden. The aim of this research was to study how well Swedish real estate companies follow the new disclosure requirements and how this may affect the investors’ financial decisions. In order to conduct the study a mixed method approach was undertaken. The study consisted of a sampled of 90 financial reports from 15 public real estate companies in Sweden before and after IFRS 13. The disclosure requirements were later calculated in accordance to an unweighted disclosure index and then tested against a hypothesis with the help of the Wilcoxon matched pair test. The comparison of the financial reports during the period 2010- 2015, that is before and after IFRS 13, enabled us to see how well the new requirements were followed. If a certain disclosure requirement was not followed an analysis of the audit reports was made in order to conclude if a modified opinion had been left by the auditor or not. In order to strengthen this specific part of the study a qualitative method was undertaken to get an expert’s point of view regarding the new requirement as well how the investors may be affected. Four auditors were interviewed in order to acquire this information but also to get a better insight regarding the investors’ point of view. After the data collection and analysis, our findings reveal that the overall compliance of public real estate companies in Sweden was high and that the disclosure quality had increased after the implementation of IFRS 13. However, not all disclosure requirements were fulfilled and none of the company’s auditors chose to give a modified statement. The results from the qualitative part of the study showed that all participants consider auditors to have sufficient knowledge of IFRS 13. Furthermore, the participants’ also claimed that the change of disclosure requirements has little impact on investors’ financial decisions.
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Yarnold, Jonathan, and Marko Ravlic. "IFRS 13 and investing decisions : A study of auditors and academics’ viewpoint." Thesis, Umeå universitet, Företagsekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-96783.
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With the recent financial crisis that have happened and the global move towards fair value accounting financial institutions such as the IASB saw fit to increase the mandatory disclosure requirements by implementing IFRS 13 to regulated fair value accounting in IFRS. The implementation of IFRS 13 means that many of the old standards in regards to fair value will be replaced, for example investment properties reporting under IAS 40. Furthermore IFRS 13 redefines the classification system for assets and liabilities. The purpose of this study is to investigate whether these changes have any influence on investment decisions. This has been done by adopting a qualitative abductive descripto-explanatory approach to our research, and our empirical data was gathered through semi-structured interviews with academics and audit professionals. The analysis of our empirical data suggests that the implementation of IFRS 13 and its increased disclosure requirements have been useful to investor’s decision making. IFRS 13 accomplishes this through its increased clarity in financial reporting. However investors should be mindful whilst investing in companies utilizing Level 3 valuation techniques because they use estimates of unobservable inputs and because such estimates are hard to control they are prone to bias, error, and manipulation.
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Jüttner-Nauroth, Beate Elisabeth. "Definition, Verständnis und Relevanz des fair value von Aktienoptionsrechten in der internationalen Rechnungslegung : eine theoretische und empirische Analyse /." Frankfurt am Main [u.a.] : Lang, 2002. http://www.gbv.de/dms/zbw/348522797.pdf.
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Fritzin, Johannes, and Svensson Pia Siewert. "IFRS 13 : En dokumentstudie över implementeringens påverkan på delårsrapporter i fastighetsbranschen." Thesis, Högskolan i Gävle, Avdelningen för ekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-16280.
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Sammanfattning Titel: IFRS 13 - En dokumentstudie över implementeringens påverkan på delårsrapporter i fastighetsbranschen Nivå: C-uppsats i ämnet företagsekonomi Författare: Johannes Fritzin och Pia Siewert Svensson Handledare: Bengt Bengtsson Datum: 2014-01-08 Bakgrund: Det har länge diskuterats hur tillgångar ska värderas och redovisas och flera standarder har införts genom åren. I och med införandet av IAS 40 fick företagen möjlighet att värdera förvaltningsfastigheterna till verkligt värde. Kritik har dock riktats mot detta värderingssätt och förste januari 2013 infördes IFRS 13 som bland annat ställer krav på ökade upplysningar. Syfte: Vårt syfte är att studera och beskriva hur väl bolagen inom fastighetsbranschen, som är skyldiga att följa IFRS 13, lever upp till upplysningskraven i sina delårsrapporter vad det gäller värdering av förvaltningsfastigheter. Vi vill också belysa eventuella skillnader och likheter mellan företagens upplysningskvalité och vad dessa kan bero på. Därutöver tänker vi undersöka om implementeringen bidragit till mer information i företagens delårsrapporter. Metod: Studien är en dokumentstudie av delårsrapporter rörande företag i fastighetsbranschen. I studien utförs en kvalitativ innehållsanalys av delårsrapporterna med utgångspunkt från upplysningskraven i IFRS 13. Analys och slutsats: Vi har analyserat fjorton olika företag. Vår slutsats är att det skiljer sig mycket mellan företagen hur väl de uppfyller kraven. De flesta av de fjorton företagen är ganska dåliga eller dåliga på att följa upplysningskraven. Framförallt är företagen dåliga på att lämna precisa indata, men de är också dåliga på att konkret uppge vilken värderingsnivå de verkligen använder. De faktorer som verkar mest sammanhängande med lågt uppfyllande av upplysningskraven är stor spridning både geografiskt och vad gäller fastighetstyp. Så företag med förvaltningsfastigheter på ett fåtal orter och inom samma bransch uppfyllde kraven bättre. När det gäller implementeringen visar undersökningen att upplysningarna i de flesta fall har ökat under de senaste fem åren. Dock har bara fyra företag ökat sina upplysningar mellan 2012 och 2013 då IFRS 13 infördes. Förslag till fortsatt forskning: Genomföra studien igen längre fram när företagen har haft lite mer tid att ta till sig IFRS 13 och se om det medför en förbättring. Samt för att få ett ännu tydligare orsakssamband genomföra studien på fler företag, till exempel i hela Skandinavien. Uppsatsens bidrag: Studien ger en bild av hur väl företagen följer den nya standarden IFRS 13 och den visar också att än så länge så har standarden inte fullt ut haft den avsedda verkan som var tänkt. Studien ger också en bild av vilka faktorer som kan tänkas ligga bakom hur väl kraven uppfylls. För eventuella användare av IFRS 13 ges också en tydligare bild av vad upplysningskraven verkligen innebär och hur andra företag gör för att uppfylla kraven. Nyckelord: IFRS 13, verkligt värde, fastighetsbranschen, förvaltningsfastigheter, upplysningskravAbstract Title: IFRS 13 - A document study over the implementation impact on the interim financial statements in the real estate business Level: Final assignment for Bachelor Degree in Business Administration Authors: Johannes Fritzin and Pia Siewert Svensson Supervisor: Bengt Bengtsson Date: 2014-01-08 Background: It has for a long time been discussed how assets are to be valued and presented and several standards have been introduced over the years. With the introduction of IAS 40, companies had the opportunity to evaluate the investment properties at fair value. Critics have however been made against this valuation method and in the first of January 2013 IFRS 13 was introduced which among other things requires increased disclosures. Aim: Our purpose is to study and describe how well the companies in the real estate industry, who are required to comply with IFRS 13, lives up to the disclosure requirements in its interim reports in terms of the valuation of investment properties. We also want to highlight any differences and similarities between corporate disclosure quality and what these may be due. In addition, we intend to examine whether implementation has contributed to more information in the companies' interim reports. Method: The study is a document study of interim reports on companies in the real estate industry. In the study was a qualitative content analysis conducted of the interim reports based on the disclosure requirements of IFRS 13. Analysis and conclusions: We have analyzed fourteen different companies. Our conclusion is that there is big different between the companies how well they meet the requirements. Most of the fourteen companies are pretty bad or bad to follow the disclosure requirements. Above all, companies are bad about leaving precise input, but they are also poor at concrete specify the measurement level they actually use. The factors that seem most consistent with low fulfillment of disclosure requirements are wide distribution both geographically and by property type. So companies with investment properties at a few locations and within the same industry met the requirements better. In terms of implementation, the survey shows that the information in most cases has increased over the past five years. However, only four companies increased their disclosures between 2012 and 2013, when IFRS 13 were introduced. Suggestions for future research: Conduct the study again later when companies have had a little more time to take in IFRS 13 and see if it results in an improvement. And to get an even clearer causal link conduct the study on more companies, such as in Scandinavia. Contribution of the thesis: The study provides a picture of how well companies comply with the new standard, IFRS 13 and it also shows that so far the standard has not fully had the intended effect as intended. The study also provides a picture of what factors might underlie how well the requirements are met. For any users of IFRS 13 it also provides a clearer picture of what the disclosure requirements really means and how other companies are doing to meet the requirements. Keywords: IFRS 13, Fair value, the real estate, investment properties, disclosure requirements
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Pulcmanová, Eva. "IFRS 3 Podnikové kombinace." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-72002.
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International Financial Reporting Standard IFRS 3 Business Combinations settles the rules of identifying, measuring, accounting and reporting for the business combinations. It decides, what is, or is not, a business combination, and explains different types of it. It asks an acquirer to use the acquisition method for accounting for the business combination at the date of acquisition. Especially to correctly recognize all the assets and liabilities acquired in the business combinations, to measure them at their fair value at the date of acquisition, to measure goodwill, and to report the information on business combination required in his financial statements. This thesis deals with the most important aspects of the business combinations, especially mergers. It explains also the most significant differences of the standard IFRS 3 Business combinations compared to the previous vision, and to some national legal regulations, and mentions also the probable development of the international accounting in the future. An attention is given also to the cross-border acquisitions. In its practical part, the thesis focuses to evaluation of fulfilling the requirements to disclose information on business combination in practice.
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Hallin, Johansson Fredrik, and Sebastian Warren. "Efterlevnaden av upplysningskraven i IFRS 13 vid värdering till verkligt värde : En studie om efterlevnaden av IFRS 13 bland börsnoterade fastighetsbolag i Sverige, Tyskland och Storbritannien." Thesis, Högskolan i Gävle, Avdelningen för ekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-24783.
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Sammanfattning Titel: Efterlevnaden av upplysningskraven i IFRS 13 vid värdering till verkligt värde - En studie om efterlevnaden av IFRS 13 bland börsnoterade fastighetsbolag i Sverige, Tyskland och Storbritannien Nivå: C-uppsats i ämnet företagsekonomi Författare: Fredrik Hallin Johansson & Sebastian Warren Handledare: Fredrik Hartwig Datum: 2017 – juni Syfte: Företag som brister i den finansiella rapporteringen lever inte upp till IFRS krav på transparens, kompabilitet och en enhetlig redovisning i Europa. Relevant information riskerar därmed att undanhållas från investerare, analytiker och övriga intressenter på kapitalmarknaden. Att redovisningsstandarder efterlevs är avgörande för att uppfylla dessa målsättningar. Syftet med denna studie är att undersöka hur variablerna företagsstorlek, revisionsbyrå, skuldsättningsgrad, lönsamhet, likviditetsnivå, tid och kluster påverkar efterlevnad av de obligatoriska upplysningskraven i IFRS 13 hos börsnoterade fastighetsbolag i Sverige, Tyskland och Storbritannien. Metod: Deduktiv ansats där hypoteser formuleras för att testa ett antal oberoende variablers påverkan på fastighetsbolagens efterlevnad av IFRS 13. Ett upplysningsindex konstrueras för att operationalisera efterlevnaden där analysen av insamlad data från årsredovisningar genomförs med multipel regressionsanalys och korrelationsanalys. Resultat & Slutsats: Studien visar att det finns ett positivt signifikant samband mellan tid och efterlevnadsgrad, vilket innebär att företagen har en högre efterlevnad av de obligatoriska upplysningskraven i IFRS 13 2015 jämfört med 2013. Ett signifikant negativt samband mellan likviditetsnivå och efterlevnadsgrad kan också konstateras där fastighetsbolag med lägre likviditetsnivå har en högre efterlevnad. Studien visar även att efterlevnaden av de obligatoriska upplysningskraven var relativt hög överlag med en genomsnittlig efterlevnad på 76,1 % för 2013 och 81,6 % för 2015. Vi kan slutligen konstatera varierande resultat mellan Sverige, Tyskland och Storbritannien, vilket visar att de studerade variablerna har olika stor påverkan på efterlevnaden av upplysningskraven i dessa länder. Förslag till fortsatt forskning: En begränsning med denna studie är att vi enbart studerar hur tid, kluster och ett antal företagsspecifika faktorer påverkar efterlevnaden av obligatoriska upplysningskrav. Tidigare forskning visar att det finns landspecifika faktorer som också kan ha en påverkan på efterlevnaden i olika länder. Det vore därmed intressant att även inkludera dessa variabler i vidare studier för att studeras dess påverkan. Den finansiella sektorn står ut med en generellt låg efterlevnad av obligatoriska upplysningskrav i IFRS och det vore därmed också intressant att studera vilka faktorer som kan förklara variationer i efterlevnaden inom denna sektor. Uppsatsens bidrag: Studien ger bevis på vad som kan förklara skillnader i efterlevnadsgraden av IFRS 13 hos svenska, tyska och brittiska fastighetsbolag. Studiens praktiska bidrag är att den kan ge intressenter en större förståelse för vilka faktorer som kan påverka i vilken utsträckning fastighetsbolag efterlever obligatoriska upplysningskrav. En sådan ökad förståelse leder förhoppningsvis till tydligare standarder och en högre efterlevnad i framtiden vilket innebär en högre kvalité i den finansiella rapporteringen.Title: Compliance with IFRS disclosure requirements when valuating at fair value – A study examining the compliance with IFRS 13 within listed real estate investment companies in Sweden, Germany and Great Britain. Level: Final assignment for Bachelor Degree in Business Administration Author: Fredrik Hallin Johansson & Sebastian Warren Supervisor: Fredrik Hartwig Date: 2017 - June Aim: Companies that lack in their financial reporting do not live up to IFRS requirements of transparency, comparability and uniform accounting in Europe. Relevant information risk to be withheld from investors, analysts and other stakeholders on the capital market. Compliance with accounting standards is crucial to reach these goals. The purpose of this study is to examine how the variables company size, auditor, leverage, profitability, liquidity, time and cluster affects compliance with the mandatory disclosure requirements of IFRS 13 within listed real estate investment companies in Sweden, Germany and Great Britain. Method: Deductive approach where hypotheses are formulated to test several independent variables impact on real estate investment companies compliance with IFRS 13. A disclosure index is designed to operationalize the compliance level, where the analysis of gathered data from annual reports is performed with multiple regression- and correlation analysis. Result & Conclusions: The result of this study shows a positive significant relationship between time and compliance level, which means that companies have a better compliance with the mandatory disclosure requirement of IFRS 13 for the year 2015 compared to 2013. A significant negative relationship between liquidity and compliance level can also be found, which means that companies with a lower level of liquidity tend to comply better with the mandatory requirements of IFRS 13. The study also shows a relatively high compliance overall with an average compliance level of 76,1 % for 2013 and 81,6 % for 2015. We can finally conclude a varying result between Sweden, Germany and Great Britain, which shows that the examined variables have different effects on the compliance level in the different countries. Suggestions for future research: A limitation within this study is that we only examine how time, clusters and several firm specific factors affect the compliance of mandatory disclosure requirements. Prior studies shows that country specific factors also could have an impact on the compliance level in different countries. Therefore it would be interesting to include these variables in further studies to see if they affect the compliance level. The financial sector has been shown to have low level of compliance with IFRS mandatory disclosure requirements and it would therefore also be interesting to examine explanatory factors for compliance level within this sector. Contribution of the thesis: This study provide evidence of what can explain the differences between Swedish, German and British real estate investment companies level of compliance with mandatory disclosure requirements of IFRS 13. This paper could be useful for different stakeholders by giving them a greater understanding for which factors that can affect to what extent real estate investment companies comply with mandatory disclosure requirements. A greater understanding will hopefully result in clearer standards and higher compliance in the future which thereby would result in a higher quality in the financial reporting.
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Shinzato, Julio Mituo. "O uso de instrumentos financeiros e o nível de evidenciação qualitativa e quantitativa nas demonstrações contábeis de empresas não financeiras, no contexto das IFRS." Pontifícia Universidade Católica de São Paulo, 2011. https://tede2.pucsp.br/handle/handle/1482.
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Previous issue date: 2011-12-15The convergence to the international accounting standards introduced in the Brazilian accounting practices the fair value methodology from which financial assets and financial liabilities will start to be measured taking into consideration its fair market value. However, the complexity to understand, interpret and apply IAS 39 rules, recognized by the IASB, may cause distortions in the recognition and fair value measurement process with effects in the transparency of financial instruments disclosure. This process is compounded by the development of financial markets and risk exposures arising from financial instruments, requiring a better disclosure of risks associated to those instruments, especially derivatives. The study aimed to examine whether the disclosure level practiced by listed companies included in the BOVESPA index are complying with the requirements emanated from the international accounting standards. For this purpose, the financial statements for the period ended as at December 31, 2010 were object of the analysis as those statements were the first one presented according to the mandatory IFRS standards. In order to achieve the proposed objectives of the research, four index categories were developed (qualitative, quantitative, hedge accounting and risk management) based on disclosure provisions established by IFRS 7. The results obtained in the study revealed that the disclosure level for qualitative, quantitative, market risk and sensitive analysis is in line with IFRS standards. Nevertheless, more complexity accounting issues introduced by the international standards and not previously included into the Brazilian accounting practices framework, such as hedge accounting, still presents an incipient level of disclosure. Analogously, the result of the study did not take notice of greater transparency in the disclosure process with respect to credit and liquidity risk exposures, in contrast to the noticed for the market risk exposures where a high level disclosure might be attributed to a requirement enforced by CVM through a normative act
O processo de convergência às normas internacionais de contabilidade introduziu nas práticas contábeis brasileiras a contabilidade pelo valor justo, de forma que os ativos financeiros e os passivos financeiros passam a ser mensurados com base no seu valor justo de mercado. Mas, a complexidade ao entendimento, interpretação e aplicação das normas do IAS 39, admitido pelo próprio IASB, pode causar distorções no reconhecimento e avaliação a valor justo de instrumentos financeiros e com reflexos adversos no processo de evidenciação de informações sobre tais instrumentos. Esse processo é agravado com a evolução dos mercados financeiros e das exposições a riscos provenientes de instrumentos financeiros, requerendo uma melhor divulgação dos riscos associados à utilização desses instrumentos, especialmente os derivativos. A pesquisa buscou analisar se o nível de evidenciação praticado pelas companhias abertas integrantes do Índice BOVESPA está em conformidade com os padrões exigidos pelas normas internacionais de contabilidade. Para tanto foram analisadas as demonstrações financeiras padronizadas correspondentes ao período findo em 31 de dezembro de 2010, por serem essas as primeiras demonstrações obrigatórias publicadas de acordo com as IFRS. Como forma de alcançar os objetivos propostos na pesquisa, foram elaboradas quatro categorias de indicadores de evidenciação (qualitativa, quantitativa, hedge accounting e gestão de riscos), com base nos padrões de divulgação estabelecidos no IFRS 7. Os resultados obtidos na pesquisa indicam que o nível de evidenciação qualitativa, quantitativa e de riscos de mercado e análise de sensibilidade está alinhado com o IFRS. No entanto, aspectos contábeis mais complexos introduzidos pela norma internacional e não inseridos anteriormente no arcabouço das práticas contábeis brasileiras, como a contabilidade de hedge, ainda apresentam um nível incipiente de divulgação. Da mesma forma, o resultado da pesquisa não observou uma maior transparência na divulgação de exposições a riscos de crédito ou de liquidez, contrariamente ao observado às exposições de riscos de mercado em que existe uma divulgação padronizada por força de imposição normativa da CVM
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Naimi, Abyaneh Ali. "Trois études sur le reporting et la réglementation bancaire." Thesis, Université Grenoble Alpes (ComUE), 2015. http://www.theses.fr/2015GREAG005.
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Cette thèse se compose de trois chapitres distincts. Le premier chapitre étudie la tentative d'harmonisation de la réglementation financière et de la divulgation de l'information financière par l'Union Européenne. Ces réglementations financières sont appliquées à travers un ensemble de directives avec un objectif commun. Nous étudions l'impact de ces changements sur l'asymétrie d'information. Nous considérons également le rôle des caractéristiques du pays et des entreprises. Nos résultats montrent que l'asymétrie d'information a diminué après le changement de régime réglementaire de l'UE. Nous démontrons que les pays dont la règlementation antérieure est d'un niveau de qualité élevé avec un système juridique efficient ont connu une réduction d'asymétrie d'information plus importante. Selon les résultats, l'impact des réglementations sur l'asymétrie d'information est plus important pour les entreprises qui avaient un meilleur environnement avant le changement de régime. Le deuxième chapitre étudie l'efficacité de l'utilisation de la juste valeur en comptabilité pour fournir des informations plus pertinentes sur la valeur des banques. Les études pertinence de la valeur ont été menées en quatre étapes. Tout d'abord, nous comparons la pertinence de la valeur des actifs et passifs tels qu'ils sont inscrits dans les bilans. Nous constatons que les actifs et passifs pris à la juste valeur sont plus pertinents pour expliquer la valeur de marché des capitaux propres. En outre, on observe que la crise financière de mi-2008 n'a pas d'impact significatif sur la pertinence des actifs et des passifs pris en FV et, que la qualité de l'audit améliore la pertinence des actifs pris en FV. Dans la deuxième étape, nous nous concentrons sur la mesure de la juste valeur et nous trouvons que les actifs basés sur « marked-to-market » sont plus pertinents que les actifs « marked-to-model » et que la haute qualité de l'audit a un impact positif sur la pertinence des actifs basés sur les niveaux de FV 1 et 2. Dans la troisième étape, nous examinons la pertinence de la valeur incrémentale des justes valeurs, en étudiant la pertinence du contenu de l'information fournie par la différence entre les justes valeurs et les coûts historiques. Pour terminer, nous évaluerons la pertinence des deux modèles que nous proposons en comparant les résultats obtenus au titre de celui de « la juste valeur totale » à ceux obtenus par le modèle « du coût historique ». Dans le troisième chapitre, nous cherchons à savoir dans quelle mesure la juste valeur en comptabilité permet de mesurer l'exposition aux risques prise par les banques. Nous étudions le rôle de la taille des banques et celui de la situation économique du marché financier. Nous démontrons que pour un échantillon global, les ratios d'endettement de coût historique et la GAAP, sont plus liés au risque de la banque que les ratios fondées sur les justes valeurs. Pour les petites banques le ratio de levier financier de la GAAP et du HC expliquent mieux le risque de défaut des banques que le ratio de levier financier de FV, et pour les grandes banques cet ordre s'inverse. Nos résultats fournissent la preuve que, pendant les périodes stables, le ou la GAAP et le ou la HC sont plus pertinentes que le risque par FV. En période de crise cet ordre s'inverse, et les ratios de FV expliquent mieux les attentes du marché concernant le risque de défaut de toutes les banquesThis dissertation consist three distinct essays that study the effectiveness of financial disclosure regulations. The first essay studies the effectiveness of EU regulatory changes aimed to harmonize and enhance EU financial information environment. Unlike literatures that study the adoption of a single regulation, we consider a set of EU regulations that have common objectives. We find that the adoption of these regulation have decreased information asymmetry in financial markets. We also show that the effectiveness of regulatory changes varies across counties. We find that firms that needed the improvement in financial information environment the most benefited the least from implementation of regulations under study. We argue that EU capital market impacts generally attributed to the adoption of IFRS are likely to come from regulatory changes concomitant to IFRS. We then focus on banks and find that EU regulatory changes had a more significant impact on banks than other firms. The second essay studies the effectiveness of fair value accounting in providing more value-relevant information. The value relevance studies have been conducted in four stages. First, we compare the value relevance of assets and liabilities as they are carried in balance sheets and find that assets and liabilities carried at fair value are more value-relevant than those carried at cost. Furthermore, we illustrate that the 2008 financial crisis had no significant impact on the value relevance of FV assets and liabilities. Also high audit quality improves the value relevance of assets carried at FV. Second, we focus on fair value measurement levels and find marked-to-marked fair values to be more value-relevant than marked-to-model fair value assets and high audit quality has a positive impact on value relevance of assets carries at FV levels 1 and 2. Third, we focus on the incremental value relevance of fair values, where we study the value relevance of fair value information over those conveyed by costs data. Finally, we compare the relative value relevance of a full fair value versus full cost accounting. The third essay looks at the risk relevance of fair value accounting. We compare the accounting-based debt ratio with fair values, cost and US GAAP data for explaining market assessments of bank risk. We find that although in overall US GAAP information and cost accounting are more risk relevant than fair values, relative value-relevance of the ratios depends on bank size and general economic condition. During financial crisis and for large banks fair values are more risk-relevant than HC and GAAP. Overall, this dissertation sheds light on the effectiveness of financial regulations regarding information disclosure and the impact of influential factors with an emphasis on banks
Books on the topic "Fair Value Disclosure"
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International Federation of Accountants. Information Technology Committee. Auditing fair values measurements and disclosures. New York, N.Y: International Federation of Accountants, 2002.
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Board, Financial Accounting Standards. Disclosure about deriative financial instruments and fair value of financial instruments. Norwalk, Conn: FASB, 1994.
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Seminar on Fair Value Accounting-New Paradigms in Corporate Disclosure Norms (2006 New Delhi, India). Seminar on Fair Value Accounting-New Paradigms in Corporate Disclosure Norms, 27th January 2006, New Delhi. New Delhi: Associated Chambers of Commerce and Industry of India, 2006.
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Mahoney, Jeffrey P. Review of 1994 disclosures about derivative financial instruments and fair value of financial instruments. Norwalk, CT: Financial Accounting Standards Board, 1995.
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Mahoney, Jeffrey P. Review of 1994 disclosures about derivative financial instruments and fair value of financial instruments. Norwalk, Conn: FASB, 1995.
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Mahoney, Jeffrey P. Review of 1994 disclosures about derivative financial instruments and fair value of financial instruments. Norwalk, Conn: Financial Accounting Standards Board of the Financial Accounting Foundation, 1995.
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Lorensen, Leonard. Illustrations of disclosures about fair value of financial instruments: A survey of the application of FASB statement no. 107. New York, N.Y: American Institute of Certified Public Accountants, 1994.
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Board, Financial Accounting Standards. Disclosure about derivative financial instruments and fair value of financial instruments: Proposed statement of financial accounting standards. Norwalk, Conn: FASB, 1994.
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Jüttner-Nauroth, Beate. Definition, Verständnis und Relevanz des fair value von Aktienoptionsrechten in der internationalen Rechnungslegung: Eine theoretische und empirische Analyse. Frankfurt am Main: P. Lang, 2002.
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Board, Financial Accounting Standards. Disclosures about fair value of financial instruments. Norwalk,Cn: Financial AccountingStandards Board, 1990.
Find full textBook chapters on the topic "Fair Value Disclosure"
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Herrmann, Theresa. "Introduction." In The Decision Usefulness of Additional Fair Value Disclosures, 1–6. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_1.
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Herrmann, Theresa. "Financial reporting for capital market participants." In The Decision Usefulness of Additional Fair Value Disclosures, 7–29. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_2.
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Herrmann, Theresa. "Differences in information needs and usage by capital providers." In The Decision Usefulness of Additional Fair Value Disclosures, 31–52. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_3.
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Herrmann, Theresa. "Theoretical background and predictions on facilitating the usage of disclosures for investors." In The Decision Usefulness of Additional Fair Value Disclosures, 53–77. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_4.
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Herrmann, Theresa. "Method." In The Decision Usefulness of Additional Fair Value Disclosures, 79–91. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_5.
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Herrmann, Theresa. "Results." In The Decision Usefulness of Additional Fair Value Disclosures, 93–129. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_6.
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Herrmann, Theresa. "Discussion." In The Decision Usefulness of Additional Fair Value Disclosures, 131–37. Wiesbaden: Springer Fachmedien Wiesbaden, 2018. http://dx.doi.org/10.1007/978-3-658-24832-1_7.
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Michel, Mary Lynn. "Earnings, Historical-Cost Book Values, and Fair-Value Disclosures in the Valuation of Stock Life Insurance Companies." In The Fair Value of Insurance Business, 191–217. Boston, MA: Springer US, 2000. http://dx.doi.org/10.1007/978-1-4615-4623-8_5.
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"DISCLOSURE PROVISIONS." In Fair Value in Accounting, 185–212. Anthem Press, 2022. http://dx.doi.org/10.2307/j.ctv2k058tw.16.
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"Fair Value Disclosure Issues." In Fair Value Accounting Fraud, 197–202. Hoboken, NJ, USA: John Wiley & Sons, Inc., 2015. http://dx.doi.org/10.1002/9781119198260.ch21.
Full textConference papers on the topic "Fair Value Disclosure"
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Macohon, Edson Roberto, Nádia Nara de Godoy, Vitor Paulo Rigo, and Roberto Carlos Klann. "DISCLOSURE OF LIABILITIES AT FAIR VALUE SECTOR ENTERPRISES CONSTRUCTION OF BM&FBOVESPA." In 10th CONTECSI International Conference on Information Systems and Technology Management. Sao Paulo: TECSI, 2013. http://dx.doi.org/10.5748/9788599693094-10contecsi/rf-67.
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