Dissertations / Theses on the topic 'International Accounting Standard (IAS) 41'

This thesis reports a study of the relevance of international accounting standards for developing countries by investigating the introduction of lAS 41 (Agriculture) in Thailand. Thailand has a deep involvement in the international standard setting process, particularly in working on E65. Agriculture is a significant part of the Thai economy. Theories of standard setting are examined in this thesis; namely the political nature of standard setting, the theory of economic and financial consequences, agency theory and institutional legitimacy theory. Theoretical considerations and particular institutional characteristics of Thailand are applied to formulate hypotheses for testing and to indicate exploratory issues having no prior expectation. The contribution to knowledge is: (1) to contribute to the literature on international accounting harmonisation by examining the processes that make lASs relevant to developing countries, using the case of lAS 41 in Thailand; (2) to contribute to a more comprehensive understanding of factors influencing the extent of adopting lASs in a developing country; and (3) to contribute to the exploration of the relative applicability of standard setting theories in relation to international accounting standards and a developing country. This study uses three research methods to allow triangulation of results: (1) it examines lobbying of the IASC to investigate the involvement of developing countries in setting lASs and it applies survey research obtained from (2) interviews and (3) questionnaires sent to those involved in setting Thai accounting standards and in using financial reports. Key findings are: The political nature of standard setting and the nature of economic and financial consequences provide the dominant theoretical framework to explain the reported results. Developing countries are less effective in lobbying than are developed countries and self-interest is a strong factor. The thesis reports the tensions and dilemmas facing a national standard setter wishing to harmonise with international standard setting, whilst also having regard local needs.

The focus of the study is on financial reporting for non-U.S. firms registered with the Securities Exchange Commission (SEC) but using International Accounting Standards (IAS). This study addresses two issues, (1) whether the comparability of financial reporting among firms using IAS in credit and equity financing jurisdictions increases over time and (2) the associated capital market implications. The motivation for the study is the SEC's ongoing assessment of IAS for possible use by non-U.S. registrants for listing and capital raising in the U.S. Previous research on variations in financial reporting practices has revealed distinctly different types of financial reporting depending on country of origin. Moreover, some research suggests that such differences in financial reporting tend to persist in spite of harmonization efforts of accounting standards. This study suggests that there may be a systematic difference between credit and equity firms' financial reporting that is manifested by the fact that credit firms' adjustments to U.S. GAAP are greater than the adjustments made by equity firms. This systematic difference has had the following capital market consequences for credit firms, (1) a decreasing strength of association between accounting earnings and share prices post-1994, (2) an increased bid-ask spread post-1994, and (3) a decreased trading volume post-1994. This may be an indication that on the average firms reporting under IAS fail to meet an important part of the SEC's second assessment criterion with respect to high quality and full disclosure, namely comparability. In addition, it seems that the revisions made by International Accounting Standards Board (IASB) have not resulted in more congruent financial reporting among firms reporting under IAS over time.

Considerable energy and resources continue to be expended on accounting rule-making, particularly through standard setting. This has been the case both at the national and international (global) level for a long time. Despite this, there is continuing dissatisfaction with what has been achieved. Criticism continues to be expressed over the rule-makers, their processes of setting rules as well as the rules being produced. Based on a detailed longitudinal case study of one process of setting an international accounting standard this study suggests a comprehensive model for understanding the (international) accounting standard setting process. In addition to the previously emphasised role of politics, it also recognises the potential significance of learning and executive concerns, as well as significant interactions between these three sub-processes of accounting standard setting. In doing this the suggested model provides a framework for approaching concerns regarding the prospects of, and problems involved in, accounting standard setting as a means of achieving (more) standardised accounting practices. A significant part of this book provides a detailed account explaining why the IASC published a standard on income tax requiring the balance sheet liability method in 1996. This case is especially interesting, not only because income tax constitutes a considerable expense for most companies, but also because the revised standard implied a change in financial accounting practices in most countries. The appendix contains several numerical examples illustrating the difference between alternative methods of accounting for income tax
Diss. Stockholm : Handelshögskolan, 2005

Background: Growth in international trade and capital flows has triggered a rising economic integration. Because of these developments there has been an international homogenising effect upon many customs, practices and institutions. In business life it led among other things to a desire to harmonise Accounting Standards among countries.

Purpose: Our purpose is to answer the question: What is the international harmonisation process of Accounting Standards, what is its status quo and how important is the International Accounting Standard Board (IASB) in it?

Realisation: In order to fulfil this purpose, we have chosen a descriptive approach, which is based on secondary data from textbooks, articles and homepages.

Result: The international harmonisation of Accounting Standards is a process, which brings international Accounting Standards into some sort of agreement, in order to achieve a common set of principles, according to which financial statements from different countries are prepared. With the support of the IASB of the European Union (EU), 7000 European companies have to use International Accounting Standards (IAS) beginning 2005. Furthermore, the long existing rejection of IAS of the U.S. seems to change. Co-ordination of agendas of both standard-setting boards (IASB and Financial Accounting Standard Board (FASB) have been announced. We conclude, that the IASB plays a major role in the field of international harmonisation. This could be explained with achievements of the IASB, as for example the International Organisation of Security Commissions (IOSCO) Endorsement, EU regulation or the recent agreement of FASB and IASB to co-ordinate their work.

The diploma thesis deals with the design of measures to prevent accounting fraud for units compiling IFRS financial statements. The thesis is divided into three parts. The first part describes the theory of creating international harmonization of accounting systems. The second part is devoted to the analysis and description of selected, the most frequently used international accounting standards, from which the part of own solutions is based. The third part, own solution proposals, deals with the application of the analytical part to a specific selected company, ČD Cargo, a. s. Differences between accounting in different accounting systems are discussed, namely the impact of differences on selected indicators of financial analysis.

This master´s thesis deals with problems of transformation of financial statements prepared in accordance with Czech accounting regulations on the financial statements in accordance with International Financial Reporting Standards. In the first section of the thesis elaborated theoretical work, in the second part contains a translation of financial statements of an entity selected and defined by the conclusions of both systems for reporting financial information.

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The derivatives are instruments used for companies management risks of loss related to exposition of price variation, exchange variation, interest and credit, which generate from operational activities. The complexity accounting treatment of these instruments generate difficult related to internal control and request an structure which the companies have to maintain in order to attend the correct accounts records of derivative transactions. The research has the objective to analyze the impact in practical application of International Accounting Standard number 39 related to internal controls and accounting records, through a case in Brazilian Company subsidiary of an European Company. The research started with a theoretical concepts of: internal controls, risks and derivative accounting records, which will be necessary to create a concept structure to analyze the information obtained on case study. The Company Objects of study has derivatives transactions with objective to hedge the risk exposure of exchange variation and commodities price variation. In the Company s organization, the financial and accounting departments have their own formal proceeds and internal controls which handle to the accounting departments the conditions the attend the International Accounting Standard number 39 , additionally the Company has a Risk Committee which develop management strategies, approve the transactions and monitoring the derivative transactions. The concept of Embedded Derivatives and Fair Value were implemented by IAS 39, are necessary to the correct accounting records of derivative transactions.The Management evaluated the Embedded Derivatives based on Contracts analyses. The Fair Value Concept has been used in the Company the derivatives accounting records. The valuation of the derivative, the Management uses a system which makes the future cash flow. When the derivative is a commodity, the value is based on Bolsa Mercantil de Futuros BMF quotation. To attend the IAS 39, the Management adopt proceeds of internal control which disclosure the intention of hedge when derivatives are contracted. The accounting records based on Brazilian GAAP do not disclose the intention of the Management in derivative transactions
Os derivativos são instrumentos utilizados pelas empresas para gerenciar riscos de perdas decorrentes de exposição a alterações de preço, variação cambial, taxas de juros e créditos, que são geradas das suas atividades operacionais. As complexidades do tratamento contábil destas transações geram dificuldades em relação aos controles e a estrutura necessária que uma empresa deve manter para que o correto registro contábil das transações com erivativos. O presente estudo tem como objetiva análise do impacto da aplicação prática da norma internacional de contabilidade IAS 39 nos controles internos e registros contábeis, através de um estudo de caso em uma empresa brasileira subsidiária de uma empresa européia. Inicialmente é efetuada uma pesquisa sobre a teoria: de controles internos, riscos e contabilização de derivativos, que servem como estrutura conceitual para análise das informações coletadas no estudo de caso. A empresa objeto do estudo de caso transaciona com derivativos com o objetivo de efetuar hedge (proteção) das exposições de risco de variação cambial e de preço de commodities. Em sua estrutura organizacional, os departamentos de finanças e de contabilidade, possuem procedimentos formais e de controles que possibilitem ao departamento de contabilidade efetuar os registros contábeis conforme determina a Norma Internacional de Contabilidade IAS 39, adicionalmente a empresa possui um Comite de Riscos que desenvolve as estratégias de gerenciamento, aprova as transações e acompanha as operações com erivativos. Os conceitos de derivativos embutidos e fair value que foram implementados pela norma IAS 39, são necessários para o correto registro das operações com derivativos. A administração da empresa avalia os derivativos embutidos através da análise dos principais contratos da empresa. O conceito de fair value é aplicado na empresa objeto no registro contábil das transações com derivativos. Para obtenção da valorização dos derivativos a administração da empresa objeto utiliza um sistema para efetuar o cálculo do valor presente dos fluxos de caixa futuros. Quando se trata de um commodity, o valor é obtido com base em cotações da Bolsa Mercantil & Futuros BMF. Para o atendimento a Norma Internacional de Contabilidade IAS 39, a administração da empresa objeto do estudo de caso adotou procedimentos de controles que evidenciam sua intenção de hedge ao transacionar com derivativos. Os registros contábeis de acordo com as Normas Contábeis Brasileiras não evidênciam a intenção da administração em transacionar com derivativos

Dinamiškas tarptautinių finansų rinkų pobūdis įtakojo tai, jog imta plačiai naudoti įvairiausias finansines priemones: nuo paprastų tradicinių priemonių, tokių kaip obligacijos, iki įvairiausių formų išvestinių priemonių, tokių kaip palūkanų normų apsikeitimo sandoriai. Tiek viešojo tiek privataus sektoriaus ūkio subjektai savo veikloje naudoja įvairiausias finansines priemones, pradedant paprasčiausiomis, tokiomis kaip mokėtinos ir gautinos sumos, ir baigiant sudėtingesnėmis priemonėmis- valiutų apsikeitimo sandoriai, kuriais apsidraudžiami įsipareigojimai užsienio valiuta. Finansinių instrumentų naujovės padėjo efektyviau paskirstyti riziką tarp skolininkų ir investuotojų. Tačiau kai kurie finansiniai instrumentai gali būti susiję su sandoriais, kurie daro įtakos bendrovės atskaitomybei ir ji nebeparodo tikrosios bendrovės finansinės padėties. Taigi iškyla problema- kaip tinkamai atskleisti ir pateikti finansinius instrumentus, siekiant informuoti suinteresuotus asmenis dėl tikros bendrovės ekonominės būklės. Ženklus finansinių priemonių naudojimo augimas paskatino užsienio autorius nagrinėti finansinių instrumentų atskleidimą ir pateikimą, kai tuo tarpu Lietuvoje dar tik pradedama taikyti finansinių instrumentų pateikimo praktika. TASV išleido standartus, kaip turi būti pateikiamos finansinės priemonės, tačiau bendrovėms visgi iškyla problema: koks yra išvestinių priemonių poveikis įmonių veiklai ir kaip tam tikri išvestiniai instrumentai susiję su tam tikra rizika. Tyrimo... [toliau žr. visą tekstą]
The dynamic nature of international financial markets led the wide-ranging using of full range of financial instruments, from simple traditional instruments such as bonds, to various forms of derivatives such as interest rate swaps. Such public and such private sector entities in their activities using a wide range of financial instruments, beginning such as payables and receivables, and ending with complex instruments, foreign exchange transactions in which hedged foreign currency liabilities. Financial instruments innovation contributed more efficient allocation of risk between borrowers and investors. However, some financial instruments may involve transactions that affect the company's accounts and it don’t show the true financial position. This raises the problem-how to detect and provide the financial instruments in order to inform stakeholders of a company's economic condition. Significant financial instrument using growth led foreign authors encouraged the financial instruments disclosure and presentation, while in Lithuania is just the beginning of financial instruments practice. The IASB has released standards for financial instruments disclosure, but companies still poses problems: what is the derivatives influence to the businesses and how some certain derivatives are associated with some risk. The object of research - the financial instruments accounting. The aim – to disclose the presentation of financial instruments, which reflect the true and fair the... [to full text]

La finalidad del presente trabajo es analizar el impacto que ha ocasionado la implementación de la Norma Internacional de Contabilidad N° 21 (NIC), desde la óptica de la situación financiera y alcance tributario en las empresas del sector de servicio de telecomunicaciones. Es fundamental comprender que el concepto de globalización de la economía cambió fundamentalmente la práctica internacional de los negocios. En el primer capítulo se expone el marco teórico, que es la base sobre la cual se sustentará el análisis de nuestro trabajo de investigación. El segundo capítulo comprende el Plan de investigación en el que se establece el objetivo, planteamiento del problema principal y secundarios; y las hipótesis; el tercer capítulo determina la metodología empleada para el análisis, establecemos el objetivo y nivel de la investigación, su diseño y una descripción de los instrumentos de recolección de datos a utilizar en la investigación cualitativa y cuantitativa. En el cuarto capítulo tratamos el desarrollo del trabajo con la aplicación de los instrumentos de recolección: entrevistas y encuestas; y en el quinto capítulo se muestra el análisis de los resultados obtenidos en la investigación cualitativa y cuantitativa. Se concluye que existe impacto financiero y tributario, recomendando que las empresas deban establecer políticas y estrategias para mitigar dicho impacto.
The purpose of this paper is to analyze the impact caused by the implementation of International Accounting Standard No. 21 (NIC), from the perspective of the financial situation and tax scope in companies in the telecommunications service sector. It is fundamental to understand that the concept of globalization of the economy fundamentally changed the international practice of business. In the first chapter the theoretical framework is exposed, which is the basis on which the analysis of our research work will be based. The second chapter includes the Research Plan in which the objective is established, the main and secondary problem statement; and the hypotheses; The third chapter determines the methodology used for the analysis, we establish the objective and level of the research, its design and a description of the data collection instruments to be used in qualitative and quantitative research. In the fourth chapter we deal with the development of work with the application of collection instruments: interviews and surveys; and in the fifth chapter the analysis of the results obtained in qualitative and quantitative research is shown. It is concluded that there is a financial and tax impact, recommendations for companies should establish policies and strategies to mitigate this impact.
Tesis

Reporting in terms of the principles of IAS 41, or equivalent, did not result in comparable financial results in the industry. This is mainly due to valuation challenges experienced and the significant costs of these valuations, contributing to the theoretical gap addressed in this study, where the cognitive theory was applied to determine how to improve the consistency, validity and reliability of the fair valuing of biological assets. The knowledge gap is a result of the inconsistent application of the requirements of IAS 41 which results in incomparable financial results which impairs the decision-making of the users of such information. The results of the study were analysed and contextualised to develop an application guideline to assist the financial statement compilers to present results to users that will enhance their decision-making. This guideline is the result of an investigation on the industry trend and standards on how to value, disclose and report on biological assets in the annual reports; an assessment of the valuation challenges experienced, the valuation factors considered and the frequency thereof; an analysis of the valuation inputs applied and a contextualisation of the various users’ expectations when these financial results are assessed. Such assessment included an inductive content analysis, further grounded theory contextualisation and grouping of the results into a guideline that was tested on various users to ensure the usefulness and validity thereof. The purpose of the study and the developed guideline is to determine how to improve the consistency, the validity and the reliability of the fair valuing of biological assets to derive at informing, comparable, decision-enhancing balances in a cost efficient manner when detailed information is presented.
Centre for Accounting Studies
D. Phil. (Accounting Sciences)

碩士
國立政治大學
會計研究所
98
International Accounting Standard #41 Agriculture (IAS 41) establishes standards of accounting for agricultural activities to recognize, measure biological assets (living plants and animals) and agricultural produce (harvested product of the entity's biological assets). Currently, there are no Financial Accounting Standards which specifically relate to agricultural activities in Taiwan. The disclosures regarding to agricultural activities and biological assets have been found varied across companies. In this dissertation, we chose Taiwan Sugar Corporation (TSC) as our subject case to understand how IAS 41 would affect companies in Taiwan after IFRSs was adopted. The analysis showed that the operation activities of TSC qualified the Company to the scope of IAS 41. The Company needs to disclose biological assets and agricultural produce at the point of harvests according to IAS 41. First of all, swine should be measured on initial recognition and at subsequent reporting dates based on fair value concept. Secondly, the gain on initial recognition of biological assets and changes on value during a specific period of time are reported on net profit or loss. Thirdly, all costs related to biological assets that are measured at fair value are recognized as expenses when being incurred. Finally, separate disclosure of biological assets is required according to IAS 1 Presentation of Financial Statements.

Trabalho de projecto de mestrado em Matemática aplicada à Economia e Gestão, Universidade de Lisboa, Faculdade de Ciências, 2018
Os sistemas de fundos de pensões privados têm um papel cada vez mais importante na economia de um país. Dado o clima de incerteza dos sistemas de Segurança Social, a constituição de uma poupança para a reforma constitui não só uma segurança futura para os indivíduos mas também é fundamental para o desenvolvimento dos mercados financeiros e de capitais. Tendo por base esta problemática e a responsabilidade cada vez mais “atribuída” às empresas na vida pós ativa dos seus colaboradores, este projeto tem como objetivo principal a demonstração de uma avaliação atuarial, sendo também apresentado um relatório de IAS 19 (International Accounting Standard 19 – Employee Benefits). Para uma melhor perceção de como tudo isto funciona, serão abordados temas, tais como a origem e os diferentes tipos de planos de pensões existentes, a saber, plano de benefício definido, contribuição definida e plano híbrido. A fim de compreender para onde estão a tender os planos, é apresentada a tendência futura dos planos de pensões, isto é, qual o plano que neste momento mostra uma maior tendência no mercado. Posteriormente, será efetuado um caso prático de um plano pensões de benefício definido, em que são exibidos os resultados inerentes quer à avaliação atuarial, quer às responsabilidades por serviços passados e serviços futuros, quer ao custo atribuído à empresa por mais um ano de serviço dos seus membros ativos. Relativamente ao relatório atuarial segundo a norma IAS 19, serão explicados neste trabalho os principais campos bem assim como a razão de este ser tão importante, principalmente para empresas multinacionais. Será apresentado neste trabalho um relatório real, em que serão abordados os campos mais relevantes no ponto de vista do cliente (empresa). O projeto foi realizado durante um estágio na empresa Capita Employee Solutions no Reino Unido e o seu principal objetivo passou por desenvolver o conhecimento relativamente à realização de uma avaliação atuarial de planos de pensão de benefício definido. Por esse motivo este trabalho incide maioritariamente sobre esse tipo de planos. Neste estágio tive a oportunidade de abordar alguns dos conceitos atuariais que serão mais tarde descritos. Também tive a oportunidade de fazer relatórios atuariais segundo a norma IAS 19, mas visto que nem todas as avaliações atuariais requerem a sua realização, esta parte foi menos visada.
Private pension funds systems have an increasingly important role in a country’s economy. Given the uncertainty of the Social Security systems, creation of savings for our retirement is not only a perspective of a future security for the individuals but also is fundamental for development of financial markets. Based on this problem and the responsibility that the companies are more often “in charge” in the post-life of their employees, the main goal of this dissertation is the demonstration of an actuarial valuation, as well as a report of IAS 19 (International Accounting Standard 19 – Employee Benefits). For a better insight of how all this works, some topics such as the origin and the different types of existing pension plans will be covered, as defined benefit plans, defined contribution plans and hybrid plans. In order to understand where the pension plans are tending, in this dissertation will be shown the future trend of the plans presented above, in other words, which of the plans at the moment show a greater tendency in the market. Afterwards, a practical case will be made of a defined benefit pension plan in which has been shown the results inherit to the actuarial valuation, such as the liabilities for past services and future services, or the cost to the company for an additional year of service for active members. Regarding the IAS 19 report, the main areas will be covered, as well as the reason of being so important, especially for multinational companies, here will be presented a real report, there we can find some comments and then why is this so relevant from the point of view of the costumer (company). This project was done during an internship at Capita Employee Solutions, in the United Kingdom and the main objective was to develop knowledge regarding the performance of an actuarial valuation of defined benefit pension plans, which is why this study focuses mainly on this type of plans. It was also at this internship that some concepts were coverage and some IAS 19 reports were made. However not all actuarial valuations require that reports, so due to less knowledge it is only presented the report and not explained from scratch, because it is an extremely vast subject and only itself would be enough for its own dissertation.

International Financial Reporting Standards (IFRS) are required or permitted for use in over 100 countries across the world. IFRS are developed by the International Accounting Standards Board (IASB). The IASB, with no formal or legal mandate, is performing a task normally reserved for national standard-setters. This study sought to establish the legitimacy of IFRS by assessing the due process of the IASB. The study established that countries have different motivations for choosing IFRS which raises legitimacy concerns. The global financial crisis compounded the legitimacy challenges of IFRS by exposing due process vulnerabilities. The study established that the IFRS governance structures are dominated by powerful stakeholders especially members of the G-20. Although the due process procedures provide opportunities for participation, actual participation is still dominated by constituents from Europe. Africa and South America still account for very low proportions of governance seats and participants in standard-setting projects.
Financial Accounting
M. Com. (Accounting)