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Puspasari, Puspasari, Annisa Nurramadhini, Lydia Sari, and Insan Kamil Djajadikarta. "IMPLEMENTASI INTERNATIONAL ACCOUNTING STANDARD 41 DI BERBAGAI NEGARA SERTA FAKTOR YANG MEMPENGARUHI KEPATUHAN PENERAPAN IAS 41." Image : Jurnal Riset Manajemen 8, no. 1 (April 17, 2019): 28–36. http://dx.doi.org/10.17509/image.v8i1.22507.
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This study aims to describe the implementation of International Accounting Standard 41 conducted by organizations that have biological assets in various countries and identify variables that affect organizational compliance in implementing IAS 41. The research method uses the literature review method. The results of the study showed that the application of IAS 41 encountered obstacles in MSME organizations and traditional farmers. This is due to their lack of ability to implement IAS 41. The results show that the variables that influence organizational compliance in implementing IAS 41 are company intensity and size, ownership concentration, have a significant positive impact and the type of auditor and international stakeholders is positively related but not significant.Keywords. Biological Asset; Fair value; IAS 41.AbstrakPenelitian ini bertujuan untuk menggambarkan implementasi International Accounting Standard 41 yang dilakukan oleh organisasi yang memiliki aset biologis di berbagai negara serta mengidentifikasi variabel yang mempengaruhi kepatuhan organisasi dalam menerapkan IAS 41. Metode penelitian ini menggunakan metode literature review. Hasil studi menunjukan bahwa penerapan IAS 41 menemui kendala di organisasi UMKM dan petani tradisional. Hal ini dikarenakan kurangnya kemampuan mereka dalam menerapkan IAS 41. Hasil penelitian menunjukan bahwa variabel yang mempengaruhi kepatuhan organisasi dalam mengimpelemtasikan IAS 41 adalah intensitas dan ukuran perusahaan, konsentrasi kepemilikan, memiliki dampak positif yang signifikan dan tipe auditor dan pemangku kepentingan internasional berhubungan positif namun tidak signifikan.Kata kunci. Aset Biologis, Nilai Wajar; IAS 41.
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Nikitina, A. A., L. Z. Buranbaeva, I. M. Khanova, R. M. Sibagatullina, and R. F. Mazitov. "New federal accounting standard: Pros and cons. Comparison of FSBU “Biological assets” and IFRS 41 “Agriculture”." Buhuchet v sel'skom hozjajstve (Accounting in Agriculture), no. 7 (July 1, 2021): 25–37. http://dx.doi.org/10.33920/sel-11-2107-03.
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The article discusses the issues of accounting for biological assets in accordance with international standards IAS 41 “Agriculture” and the new federal accounting standard FSBU “Biological assets”. This article will contribute to a practical understanding of the significance of the new federal accounting standard. The study of the authors will allow us to determine the advantages and possible difficulties of accounting, when making changes to the regulatory legal acts in connection with the adoption of the new federal accounting standard “Biological Assets”. And also, to assess the feasibility of adopting the federal accounting standard “Biological assets.
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Miranda, Hanna D., Loida E. Mojica, Jeanette Angeline B. Madamba, and Normito R. Zapata Jr. "Accounting Practices and International Accounting Standard (IAS)/Philippine Accounting Standard (PAS) 41 Compliance of Cattle Farms: Evidence from the Philippines." International Academy of Global Business and Trade 13, no. 1 (May 2, 2017): 55–77. http://dx.doi.org/10.20294/jgbt.2017.13.1.55.
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Lestari, Desak Nyoman, Burhanuddin Burhanuddin, and Abu Kosim. "PERBANDINGAN PENDEKATAN TEORITIS INTERNATIONAL ACCOUNTING STANDARD (IAS) 41 DAN PSAK 16 PADA BIAYA TANAMAN BELUM MENGHASILKAN KARET (STUDI KASUS DI PT. PERKEBUNAN MITRA OGAN (RNI GROUP) DI PALEMBANG)." AKUNTABILITAS: Jurnal Penelitian dan Pengembangan Akuntansi 11, no. 1 (August 9, 2019): 15–26. http://dx.doi.org/10.29259/ja.v11i1.8926.
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This Reseachis aimed to determinethe calculation of immature plant cost based on International Accounting Standard (IAS) 41 and PSAK 16 in PT. Perkebunan Mitra Ogan (RNI GROUP) in Palembang. This research uses descriptive method with the data obtained is primary and secondary data. The biological asset consist if two immature plants (TBM) and yielding plant (TM). Immature plants is plant that has not yielded results, still young, has never flowered or not enought age to produce, while the plant produces a plant that is ready to be harvested. Cost of immature palntation costs such as land preparation, maintenance, fertilization, grras cutting and maintenance costs. The cost of the plant has not, the yield will be reclassified into the yield crop (TM) it aims to add value from the biological asset it self. In a company the measurement of biological assets based on cost (historical value), while in International Accounting Standard (IAS) 41 using fair value. The results show that fair value of the plant has not been produced by International Accounting Standard (IAS) 41 is smaller than the value the cost of immature crops according to PSAK 16 it is quoted in PT. Perkebunan Mitra Ogan (RNI GROUP) no aktive market for biological assets.
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Beryoza, A. O. "CHARACTERISTICS OF THE ACCOUNTING OF BIOLOGICAL ASSETS IN THE GRAIN PRODUCTION." Juvenis scientia, no. 12 (2018): 16–19. http://dx.doi.org/10.32415/jscientia.2018.12.04.
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Today globalization of the world market leads to the need for the constructive interaction within the international market and the formation of common accounting forms and standards. The multinational corporations represent organizations that have divisions in different countries of the world. Therefore preparation of clear and transparent financial reports for such companies requires the establishment of common international standards. International financial reporting standards (IAS or IFRS) have become such standards. They are designed to provide an understanding of the reporting forms, to give an objective assessment of the property, as well as to promote interaction between investors and potential investment objects located in different national accounting systems. One of the standards that is of great importance for the Russian Federation is IAS 41 "Agriculture". Agriculture is one of the leading sectors in our country, which supplies products to both domestic and foreign markets. Accordingly, the adoption of the Russian analogue of this standard and the implementation of its provisions is a significant and important issue of today's economic reality.Thus, the need to allocate biological assets in a separate accounting and economic category, their reflection in accounting and reporting at fair value in accordance with the provisions of IAS 41 determined the relevance of the topic, purpose, objectives and logic of this work. The article suggests the author's approach to the calculation of the fair value of biological assets.
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Marsh, Treba, and Mary Fischer. "Accounting For Agricultural Products: US Versus IFRS GAAP." Journal of Business & Economics Research (JBER) 11, no. 2 (January 31, 2013): 79. http://dx.doi.org/10.19030/jber.v11i2.7620.
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Currently there is a mix of accounting guidance for agriculture producers in the US that is both GAAP including Accounting Statement Codification 905 and non-GAAP financial guidelines. Should the US adopt International Financial Reporting Standards (IFRS), this guidance would be replaced with International Accounting Standard (IAS) 41 Agriculture. This study identifies systematic differences between the US and International accounting and reporting for agricultural assets and products. The study also finds that international and US agricultural accounting recognition and reporting guidance result in dissimilar reporting due to guidance interpretation. Valuation variances and definition differences including the requirement to change the agricultural asset recognition method from historical cost to fair value continue to be the basis of major reporting differences. Current US guidance on recognizing and reporting agricultural assets is more conservative than the international guidance. Overall, the US agricultural recognition and reporting guidance contains less information and is therefore less beneficial to financial statement users.
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Bohušová, H., P. Svoboda, and Nerudová. "Biological assets reporting: Is the increase in value caused by the biological transformation revenue?" Agricultural Economics (Zemědělská ekonomika) 58, No. 11 (November 26, 2012): 520–32. http://dx.doi.org/10.17221/187/2011-agricecon.
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Agricultural activity differs from other activities carried out by business units to achieve the profit. Agricultural activity is in comparison with other activities of business subjects dependent on the natural and environmental conditions, and therefore the agriculture specialization is narrowly connected with geographical position. The aim of the paper is to identify the possible obstacles in the practical application of the International Accounting Standard 41 (IAS 41) and to suggest the possible ways of their elimination. The comparative analysis of the currently applied rules for agricultural activity reporting and the analysis of the current accounting treatment of agricultural activity under the International Financial Reporting Standards (IFRS) were the starting point of the research. This part serves as the basis for own research in which the authors are trying to identify the specifics of agricultural production, biological assets and biological transformation. More suitable methods for their recognition, measurement and reporting were suggested as an alternative to the current treatments. At the end, the results are also confronted with contemporary scientific literature on that topic, which is not very broad. The main reason for the research of the authors in this area is the possible elimination of obstacles in the practical application of the IAS 41.
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Murtianingsih, Murtianingsih, and Anas Hari Setiawan. "THE IMPLEMENTATION OF FAIR VALUE ON SHORT TERM ASSESMENT OF BIOLOGICAL ASSETS." Journal of Accounting and Business Education 1, no. 1 (September 29, 2016): 40. http://dx.doi.org/10.26675/jabe.v1i1.6728.
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<p>This study aims to identify and analyze the implementation of fair value and the impact of the use of bases the recognition, measurement, and disclosure of the biological assets with the object of research PT. Malindo Feedmill Tbk which further research is also useful for agriculture companies in managerial decision making. This research is descriptive quantitative concluded based on data and clarify the picture of the implementation of fair value is based on International Accounting Standard (IAS) 41 and perform comparative measurements of biological assets PT. Malindo Feedmill, Tbk based acquisition price. From the results of this study concluded that the difference in the material due to fair value measurement that refers to IAS 41 in determining the market value following the fluctuations of the market, but in IAS 41 does not distinguish between fair value treatment against several categories of biological assets. This is certainly less relevant when applied to some types of biological assets, such as short term biological assets at PT. Malindo Feedmill Tbk.</p><p><strong>Keywords: </strong>biological assets, fair value, historical cost, ias 41<strong></strong></p>
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Beryoza, A. O. "Valuation of Biological Assets at Fair Value." World of new economy 13, no. 3 (December 3, 2019): 59–70. http://dx.doi.org/10.26794/2220-6469-2019-13-3-59-70.
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Today the globalisation of the world market leads to the necessity of constructive interaction in the international market and forming common standards of accounting. Transnational corporations as a phenomenon of worldwide integration are businesses with units in different countries of the world. Special issues of information support of management in agricultural organisations have become very important in the conditions of the market economy. Clear and transparent accounting in such enterprises requires the existence of common international standards. Such standards could become International Financial Reporting Standards (IFRS). They are designed to provide an understanding of financial processes in different countries for the interaction between investors and potential investment projects located in different national accounting systems. The standard “Agriculture” has great importance for the Russian Federation. Agriculture is one of the leading sectors of our country, supplying products for both domestic and foreign market. Accordingly, the adoption of this standard and the implementation of its provisions is an important and urgent issue of today’s economic reality. Introduction of this standard leads to the formation of fundamentally new methodological bases of the accounting of agricultural activities based on the market value of assets because paragraphs 12–13 of this Standard states that during the initial and subsequent valuation of biological assets will be measured at their fair value fewer costs to selling. Thus, the need to allocate biological assets in the separate account-economic category, their reflection in the accounting at fair value by the provisions of IAS 41 has determined the relevance of the topic, goal, objectives and logic of the article.
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Cavalheiro, Rafael Todescato, Andréia Maria Kremer, and Régio Marcio Toesca Gimenes. "Fair Value for Biological Assets: An Empirical Approach." Mediterranean Journal of Social Sciences 8, no. 3 (May 24, 2017): 55–68. http://dx.doi.org/10.5901/mjss.2017.v8n3p55.
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Abstract In view of the difficulty in adopting the International Accounting Standard (IAS) 41, which determines the measurement of biological assets, this study aimed at empirically approaching a fair-value based methodology to evaluate biological assets, without an active market. In order to meet the study proposal, a case study with a quantitative approach was carried out to assess a soybean crop cultivated in the Mato Grosso do Sul State. Discounted Cash Flow (DCF) was the chosen evaluation method. Data collection was done through analysis of internal reports and semi-structured interviews. Few practical works detailing valuation of biological assets are available in the national and international literature; therefore, this is the main contribution of this work. Results suggest that besides using economic and accounting knowledge, it is advisable to consider agronomic knowledge since this type of information influences the valuation of biological assets in quantitative and qualitative terms. At the end, general comments and a research agenda are presented.
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Ashraf, Junaid, Zeeshan Ahmad, and Imran Chaudhry. "Livestock Valuation in a Dairy Business." Issues in Accounting Education 28, no. 4 (June 1, 2013): 873–83. http://dx.doi.org/10.2308/iace-50549.
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ABSTRACT This case study deals with assessing the value of livestock in the financial statements of a dairy farming business. With a global market predicted to reach US$494 billion by 2015 (GIA 2012), dairy farming is the largest sector of world agriculture production. It is an important industry in many countries. For example, in the USA, dairy farming contributes more than $160 billion in economic output and provides more than 90,000 jobs (DFT 2012). The subject matter of the case study is a small dairy farming business in Pakistan, a country that is the fifth largest producer of milk in the world (FAO 2009). The case study describes a disagreement between the management and the auditors about the initial recognition and subsequent measurement of crossbred cattle in the financial statements of the business. The aim of this case study is to help students understand the issues involved in assessing the value of livestock in the light of the guidance provided by the International Accounting Standard on Agriculture (IAS 41). The case study can also be used to help students understand the differences between the requirements of U.S. GAAP and international accounting standards, as well as the possible reasons for these differences.
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Alves, Maria Teresa Venâncio Dores, and Maria Olímpia Alvarez de Sousa Fernandes Pascoal. "Mensuração e reconhecimento contabilístico dos ativos biológicos: um estudo de caso." Revista Contemporânea de Contabilidade 14, no. 31 (April 3, 2017): 46. http://dx.doi.org/10.5007/2175-8069.2017v14n31p46.
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http://dx.doi.org/10.5007/2175-8069.2017v14n31p46O setor agrícola continua a desempenhar um papel fulcral na economia e na sociedade portuguesa. É, também, um setor com especificidades que representam grandes desafios para a contabilidade, de que são exemplo os ciclos de produção, a atribuição de custos entre diferentes períodos, o tratamento de informação sobre animais vivos e plantas. A International Accounting Standard (IAS) 41 Agricultura encontra-se em vigor desde 1 de janeiro de 2003. Mais tarde, o Sistema de Normalização Contabilística (SNC) veio a integrar a Norma Contabilística e de Relato Financeiro (NCRF) 17 Agricultura (2009, 2015) que se baseia na IAS 41. Estas normas constituem um importante contributo para a harmonização contabilística e consequente comparabilidade da informação em um nível não antes possível. O objetivo do presente estudo é analisar a conformidade com a NCRF 17 da informação produzida por uma empresa do setor agropecuário. Nesse sentido, desenvolveu-se um estudo de caso exploratório e descritivo e recorreu-se à pesquisa bibliográfica e documental e à técnica da entrevista. A análise dos dados extraídos dos balancetes, do balanço, da demonstração dos resultados e do conteúdo da entrevista permitiu verificar que a empresa utilizava o justo valor, como requerido pela NCRF 17, com base nas cotações do mercado (existia mercado ativo), para a mensuração dos ativos biológicos. Porém, os registos relacionados com o apuramento do ganho ou perda de justo valor destes ativos eram efetuados, apenas no final do ano, pela diferença entre os animais adquiridos, nascidos e vendidos ou abatidos.
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Ibrahim, Nura, and Shafi’u Abubakar Kurfi. "An Assessment of Compliance with Disclosure Requirements of IAS 41 (Agriculture) By Listed Agricultural Firms in Nigeria." American International Journal of Agricultural Studies 2, no. 1 (June 24, 2019): 9–18. http://dx.doi.org/10.46545/aijas.v2i1.95.
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This study examined the extent of compliance with disclosure requirements of IAS 41 by agricultural companies listed on the Nigerian Stock Exchange (NSE) for the period of 5 years (2013-2017). The data for the study were obtained from the published financial statements of the sampled firms for the period under review from which a compliance index were constructed, The tools for analysis used were the qualitative grading using a compliance index and the one way ANOVA purposely to test the hypotheses proposed. The study observed that three out of the four Companies achieved more than 70% with overall mean scores of 76.02%. This shows that majority of the agricultural firms in Nigeria strongly complied with the disclosure requirements of IAS 41. Based on the findings the study recommends among others that firms should strive at all times to comply with all regulatory and statutory requirement in the preparation and presentation of financial statements, giving the fact that it is a set of documents that prescribe the performance of the reporting entity. The Financial Reporting Council of Nigeria should publish annually the compliance status of all listed firms in Nigeria; so that the compliance status of every firm will become known to all interested users of financial statements; and also the Council should urge external auditors of firms to ensure that their clients are complying with the requirements of IASs issued by the International Accounting Standards Board (IASB).
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Forfar, D. O., and N. B. Masters. "Developing an International Accounting Standard for Life Assurance Business." British Actuarial Journal 5, no. 4 (October 1, 1999): 621–98. http://dx.doi.org/10.1017/s1357321700000635.
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ABSTRACTThere is currently no international standard for profit reporting in life insurance companies. The paper sets out the issues which an international standard for life companies will need to address, bearing in mind compatibility with existing International Accounting Standards, in particular IAS 32 Financial Instruments: disclosure and presentation, IAS Exposure Draft E62 (now IAS 39); Financial instruments; recognition and measurement and the discussion paper of March 1997 prepared by the Steering Committee on Financial Instruments entitled ‘Accounting for Financial Assets and Financial Liabilities’. The paper discusses possible approaches to the issues which arise and comments on each, ending with some final conclusions.
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Hassan, Mohammed Saeed, Adel M. Sarea, and Gagan Kukreja. "Testing the Level of Compliance of International Accounting Standard IAS 38: Evidence from Bahrain." Accounting and Finance Research 8, no. 3 (July 25, 2019): 136. http://dx.doi.org/10.5430/afr.v8n3p136.
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This research aims to examine the level of compliance of International Accounting Standard 38 (IAS 38, intangible assets) among the listed companies of Bahrain Bourse. This paper employs the method of equal weighted disclosure index to determine if the listed firms are complying with the disclosure requirements of the IAS 38. The required data for the year 2016 has been obtained from Bloomberg. The research found that firms have a compliance of 35.4%. The regression analysis results showed that there is a correlation between IAS 38 disclosure and the size of audit firms, leverage, profitability and industry type. There is a lack of relationship between IAS 38 disclosure and age & size of the company. This research serves as the basis of a future study on IAS 38 in different countries in emerging markets.In order to assure high performance and implementation of IAS 38, all firms listed in Bahrain Bourse ought to increase the level of compliance.
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Kümpel, Thomas, and René Pollmann. "Absicherung von Zinsänderungsrisiken nach IAS 39." Der Betriebswirt: Volume 51, Issue 4 51, no. 4 (November 30, 2010): 18–23. http://dx.doi.org/10.3790/dbw.51.4.18.
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Die Bilanzierung ökonomischer Sicherungszusammenhänge, das so genannte Hedge Accounting, gehört zu den am meisten kontrovers diskutierten und umstrittenen Vorschriften der International Financial Reporting Standards (IFRS). Betroffen sind insbesondere die vom International Accounting Standard Board (IASB) veröffentlichten Regelungen zum Portfolio Fair Value Hedge Accounting von Zinsänderungsrisiken. Diese können als eine Weiterentwicklung der bisherigen Hedge Accounting Vorschriften angesehen werden, stoßen jedoch insbesondere in der Kreditwirtschaft auf Kritik. Der vorliegende Artikel befasst sich mit dem im International Accounting Standard 39 (IAS 39) verankerten Regelkreislauf des Portfolio Fair Value Hedge Accounting von Zinsänderungsrisiken. Dabei werden insbesondere die einzelnen Teilschritte herausgestellt und anschließend die Abbildung in der Bilanz und Gewinn- und Verlustrechnung dargestellt. The balancing of economic hedging activities, the so-called hedge accounting, is one of the most controversial and contentious discussed regulation of the International Financial Reporting Standards (IFRS). This concerns in particular the regulations according to the Fair Value Hedge Accounting of interest rate risks issued by the International Accounting Standard Board (IASB). Those can be considered as a development of recent hedge accounting regulations, but especially in the banking industry they met with criticism. Keywords: abischerung von zinsänderungsrisiken nach ias 39
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Daniel, Buda, Razvan Hoinaru, Mihaela Mocanu, and Aureliana-Geta Roman. "IAS 41 and beyond for a sustainable EU agriculture." Proceedings of the International Conference on Business Excellence 13, no. 1 (May 1, 2019): 829–39. http://dx.doi.org/10.2478/picbe-2019-0073.
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Abstract Titles on IAS 41 are not very common in the literature and in this sense there is a limited understanding of the standard and the agri-business, especially when connected with accounting and sustainability. Far too many scholars when taking into consideration natural capital, place too much emphasis on abiotic products (wind, solar, etc) which have a different economic behaviour than the biotic ones (biological assets). The topic of IAS 41 is important, as agriculture is one of the strategic sectors for human living and it needs to be accounted for in careful manner. Our article connects accounting with agriculture, sustainability and non-financial reporting for an integrated perspective. There are certain intrinsic challenges that IAS 41 presents, especially when dealing with FVA, but there are also greater needs for materiality in the sustainable agricultural development in the EU legislation. Authors think that there is place for improvement whiten the standards and the future of EU farming should not leave accounting behind, making a call for a more integrated approach and understanding.
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Izolda Chiladze, Izolda. "International Accounting Standard 12 –“Income Tax” and Aspects for Discussion." Applied Finance and Accounting 4, no. 1 (September 25, 2017): 1. http://dx.doi.org/10.11114/afa.v4i1.2667.
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International accounting standard 12-Income tax – regulates accounting methodic of profit tax and demands that the enterprises must account the deferred tax asset and the deferred tax liability. For this reason, the net profit indicator published in the financial statement of the enterprises is unrealistic which in one hand contradicts to requirements of basic qualitative characteristics a financial statement such as Relevance and Faithful Representation and in another hand, it allows of fraud in the financial statement.The aim of this study is to substantiation necessity of simplification of the IAS 12 – Income Tax. In the article is affirmed that accounting of the deferred tax asset and deferred tax liability derives many problems for the enterprises and the investors. They also have not an analytical role in the financial analysis of the enterprises. That is why, the leadership of the enterprises avoids to using mentioned standard 12 – Income Tax - in Georgia. This study gives the recommendation that in the IAS 12 - Income tax – bring in the changes, which will be simplified by the method of profit tax accounting in the enterprises and it will eliminate the existing problems of accounting the profit tax.
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Garzella, Stefano, Salvatore Ferri, Raffaele Fiorentino, and Francesco Paolone. "The (in)coherence in accounting for goodwill." Meditari Accountancy Research 28, no. 2 (September 19, 2019): 311–25. http://dx.doi.org/10.1108/medar-11-2018-0398.
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Purpose In the process of harmonizing International Accounting Standards (IAS/IFRS), scholars and standard setters still need to overcome unresolved issues related to both goodwill duration and accounting recognition. This paper aims to compare the academic background on goodwill with current IAS. Specifically, the goal is to criticize existing practices and advance a revision of accounting for goodwill. Design/methodology/approach The paper is based on a review of the relevant literature on notions, theories and accounting approaches on goodwill and on an investigation of IAS/IFRS on accounting for goodwill. By critically integrating literature and practices, the authors provide implications for a revision of IAS. Findings The findings show the two main internally coherent theoretical approaches and the incoherence in current goodwill accounting standards. The paper contributes to the debate on accounting for goodwill by suggesting new conceptual arguments in relation to the controversies related to its accounting treatment. Practical implications The findings offer insights and guidelines that can help standard setters revise current accounting standards. Inter alia, standards setters should revisit issues related to goodwill evaluation and record limitations in future debates to find better solutions. Originality/value This study shows the incoherence of current accounting standards. Furthermore, the findings contradict the general opinion that, in current IAS, goodwill can be recognized only if acquired in business combinations and not if internally generated. Thereby, the authors suggest to shift the international accounting standards board focus from the preference between amortization and impairment to the coherence of goodwill accounting approaches.
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Chairina, Chairina, and Sarwani Sarwani. "Accounting Treatment of Biological Assets in Plantation Industry on Wetlands (Case Study in Plantation Company Entities in South Kalimantan)." Journal of Wetlands Environmental Management 6, no. 2 (February 13, 2019): 110. http://dx.doi.org/10.20527/jwem.v6i2.181.
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<p><em>The purpose of this study is to determine the Accounting treatment of biological assets based on IAS 41 Agriculture. DSAK-IAI in the process of convergence of PSAK with IFRS states that one of the standards that is still being project remaining work since 2010 is IAS 41. IAS 41 is adopted into PSAK No.69 Agriculture as the Accounting standard that regulates special biological assets that will be effectively applicable on 1 January 2018. The results of this study are expected to provide the description of Accounting treatment based on IAS 41 in more detailed and clear in terms of recognition and presentation and disclosure of biological assets. However, in terms of measurement, IAS 41 will be more difficult to implement because the market price for the plantation industry has not been able to be a benchmark of fair value.</em></p><p><em> This research was a qualitative descriptive research by giving a description of the Accounting treatment of biological assets engaged in oil palm plantation. Data collection techniques used questionnaires sent to the company with 10 (ten) samples of oil palm companies representing Banjarmasin City, Banjarbaru City, Banjar Regency, Tapin Regency and Tanah Laut regency. The data were analyzed by using descriptive analysis and index calculation of implementation conformity to the standard. </em></p><p><em> The results showed that the companies have applied the Accounting treatment of biological assets on the average of 90.8% based on research indicators. In terms of classification the companies have classified 100% of its biological assets well. Recognition, measurement and assessment of biological assets, the companies applied research indicators in the range of 84% - 97%, this condition was caused more because the basis of valuation with the fair value of biological assets was not readily available in the active market thus affecting the recognition, measurement and valuation of those assets. While Presentation and Disclosure of Biological Assets in the financial statements, the companies applied 77.5% - 96% of the existing disclosure indicators.</em></p><p> </p><p> </p><p> </p>
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Ayoub, Maysa, and Dr Hasan El-Mousawi. "Extent of Commitment of Accountants in Lebanon to Implementing the International Accounting Standard 16: Property, Plant and Equipment (An Empirical Study)." Research in Economics and Management 5, no. 1 (March 7, 2020): p38. http://dx.doi.org/10.22158/rem.v5n1p38.
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Tangible fixed assets are fundamental to the organization; thus, the International Accounting Standards Board (IASB) issued International Accounting Standard 16, (IAS 16—Property, Land and Equipment), which includes regulations that organize the recognition, measurement and disclosure of those assets. Later versions of the standard improved and updated the standard. The research aims at studying the extent of commitment of Lebanese accountants to implementing IAS 16. The researchers used a descriptive, analytical approach to tackle their topic. A well-structured five-point Likert style questionnaire was used to collect data. The samples were all members of the Lebanese Association of Certified Public Accountants (LACPA). The results of the study showed a difference of statistical significance within the opinions of the study samples about the extent of commitment of LACPA members to applying IAS 16. The research reached that accountants in Lebanon apply only some items of IAS 16, which the research tool specified. The researchers had some recommendations based on the findings of the research.
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Klibi, Mohamed Faker. "Using international standards as a complement to overcome the unachieved nature of local GAAPs." Journal of Applied Accounting Research 17, no. 3 (September 12, 2016): 356–76. http://dx.doi.org/10.1108/jaar-07-2014-0071.
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Purpose In recent years, Tunisian listed companies have been preparing their financial statements under a hybrid set of accounting standards; a mixture of national and international standards. The purpose of this paper is to empirically verify to what extent this particular form of de facto compliance with IAS/IFRS (which are not authorized in Tunisia) is used among listed companies. The paper further analyzes accounting professionals’ perception of the current state of Tunisian standards and their attitudes in the absence of relevant national Generally Accepted Accounting Principles (GAAPs). Design/methodology/approach Two methodological approaches were used to answer the paper’s research questions: a document analysis approach and a survey questionnaire. Findings The document analysis revealed that a growing number of listed companies complement local GAAPs by standards they select among IAS/IFRS. The perception study indicated that Tunisian Accounting Standards are, indeed, less suitable for listed companies’ needs. Accordingly, when there is no local standard to measure a specific transaction or event, accounting professionals seem to have no problem in using some IAS/IFRS as a complement to overcome the unachieved nature of local GAAPs. However, the overall findings are likely to suggest that international standards used must not conflict with the Tunisian conceptual framework’s provisions. This means that the use of IAS/IFRS in conjunction with local GAAPs is generally perceived as being beneficial to the quality of financial statements. Research limitations/implications This study may be of interest to many developing countries that have not continued the harmonization of their accounting standards with IAS/IFRS. Future research should focus on the reasons which have led to this unachieved harmonization and the consequences of the normative gap which might emerge. Practical implications Previous research has often shown how difficult it is to apply international accounting standards in developing countries, especially when they do not correspond to the companies’ needs. Difficulties could occur when local standard-setters do not accurately know which new international standards are suitable to the market needs. The study gives some insights suggesting that corporate accounting practices should be analyzed to understand the real needs for new standards. Originality/value The paper highlights the beginning of a de facto convergence with international accounting standards without any support of national de jure convergence. Consideration of this phenomenon may contribute to the understanding of the malaise that characterizes the current accounting standard-setting in developing countries.
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Liu, Chunhui, Chun Yip Yuen, Lee J. Yao (posthumously), and Siew H. Chan. "Differences in earnings management between firms using US GAAP and IAS/IFRS." Review of Accounting and Finance 13, no. 2 (May 6, 2014): 134–55. http://dx.doi.org/10.1108/raf-10-2012-0098.
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Purpose – The purpose of this paper is to examine whether the relatively rules-based US Generally Accepted Accounting Principles (GAAP) and the more principles-based International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) provide different opportunities for earnings management (EM). Such an examination is critical as the world moves toward principles-based standards. Design/methodology/approach – Financial information for the fiscal years 1999-2004 from the annual reports of firms listed under the Prime Standard on the Germany Frankfurt Stock Exchange is analyzed. Data from the German Frankfurt Stock Exchange are used to resolve the difficulty in comparing accounting standards across different markets and countries with different institutional factors and corporate governance issues. The unique feature of dual listing in the German Frankfurt Stock Exchange allows firms listing shares under the Prime Standard to report in accordance with either the US GAAP or the IAS/IFRS before the IFRS adoption by the European Union in 2005. Strong legal enforcement in Germany ensures that reporting under each standard is in close compliance to the standard under comparison. Extending extant IFRS vs US GAAP EM research with discretionary accruals, this research contributes to a more comprehensive understanding by also examining EM through deferred tax expense and EM through research and development investment. Findings – The findings reveal that EM through research and development investment is significantly higher for the IAS/IFRS firms. Similar to prior findings, EM through accruals is not found to be significantly different between US GAAP and IAS/IFRS firms. Originality/value – The findings of this study advance the understanding of differences between US GAAP and IFRS with data from Germany where legal enforcement of standards is strong. In particular, this study reveals that principles-based standards with imprecise rules like IAS/IFRS may encourage structured management due to the expectation of error costs and compliance uncertainty. The results inform regulators considering IAS/IFRS adoption. In addition, this research highlights the importance of considering real EM in US GAAP vs IAS/IFRS studies.
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BOYDAŞ HAZAR, Hülya. "THE APPLICATION OF IAS 2 INVENTORIES STANDARD IN ACCOUNTING PRACTICES." Business & Management Studies: An International Journal 8, no. 2 (June 25, 2020): 2414–30. http://dx.doi.org/10.15295/bmij.v8i2.1496.
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In this study, IAS 2 Inventories standard is examined and the real-world accounting applications related to inventories are presented.IAS 2 Inventories is an accounting standard, which is part of the International Financial Accounting Standards (IFRS). It is the framework for the accounting treatment of inventories. Inventory makes up substantial part of the total asset value. Therefore, value determination and presentation of inventories is a fundamental part of accounting.The contribution of this work is highlighting the components which make up the value of inventories and the importance of choosing the inventory valuation method in managerial decision making. Moreover, accounts are suggested for journal entries to record inventory related costs.
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Santos Baptista da Costa, Filipa Manuel da Silva, Adalmiro Pereira, and Ângela Daniela da Silva Vaz. "Portuguese Public Accounting Standard Number 5- Tanglble Fixed Assets the Standard And Its Application." International Journal of Social Sciences and Humanities Invention 8, no. 08 (August 25, 2020): 6111–20. http://dx.doi.org/10.18535/ijsshi/v7i08.03.
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The new Accounting Standards in Portugal for the Public Sector, were create in a line of the IAS – International Accounting Standards.This work is about the study of the Standard 5 about the Tangible Fixed Assets. We intend to present the main points, about recognition, measure and publish of facts related with the Standard.We finish with the presentation of some practical examples, intending to show the main application of the Standard.
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Mechelli, Alessandro, Vincenzo Sforza, and Riccardo Cimini. "Is IFRS 9 better than IAS 39 for investors' decisions? Evidence from the European context at the beginning of the transition year." FINANCIAL REPORTING, no. 1 (June 2020): 125–48. http://dx.doi.org/10.3280/fr2020-001004.
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The first-time adoption of International Financial Reporting Standard (IFRS) 9 at the beginning of fiscal year 2018 has offered the opportunity to test whether the information provided by this new accounting standard on financial instruments is more useful for investors than International Accounting Standard (IAS) 39. This paper assesses and compares the value relevance of book value calculated ac-cording to the requirements of the two accounting standards on financial instru-ments at the beginning of the transition year for a sample of 110 financial entities listed in 20 stock markets that have recorded transition effects between retained earnings. Findings provide evidence that both IAS 39 and IFRS 9 are value rele-vant and that the second one adds more information than that previously supplied by the first one. The paper contributes to the literature by providing the first evi-dence of the usefulness of the new accounting standard on financial instruments. About its practical implications, the paper provides insights regarding the high quality of the International Accounting Standard Board (IASB)'s standard setting process.
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Morais, Ana Isabel, and Inês Pinto. "Pension plans assumptions: the case of discount rate." Accounting Research Journal 32, no. 1 (May 7, 2019): 36–49. http://dx.doi.org/10.1108/arj-02-2018-0041.
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Purpose In 2009, the International Accounting Standards Board started revising International Accounting Standard (IAS) 19 to improve the requirements for managing the annual expense of a pension plan. The revised standard became effective in 2013. The purpose of this paper is to investigate what effect this revision had on managerial discretion. The paper also examines the implications of the revision on the value relevance of accounting information. Design/methodology/approach The authors use a sample of 72 firms listed on the FTSE 100 that have defined benefit plans for the period between 2009 and 2015. The authors use a regression discontinuity design to analyse the effect from the revision of IAS 19 on the choice of managers regarding the expected rate of return-on-plan assets. The paper also investigates whether firms with higher pension sensitivity are more likely to manage earnings upward before the revision of IAS 19. Further, the paper studies the value relevance of earnings after the revision of the accounting standard. Findings Consistent with predictions, the results show that the adoption of the revised IAS 19 limits the use of the expected rate of return on assets to manage the annual expense of defined benefit plans. This finding shows a sharp increase in the value relevance of earnings. Practical implications This finding is useful for users and preparers of financial statements and regulatory bodies as it identifies not only the influence of a change in the accounting standard for earnings management but also provides evidence on the consequences of managers’ discretion. Originality/value This paper provides direct evidence on the relationship between regulation and financial reporting discretion. It also provides evidence to accounting standard setters that the revision of IAS 19 improves the value relevance of financial information, which gives additional justification to the changes introduced by regulators.
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Shakaroun, Rani, Hasan El-Mousawi, and Joumana Younis. "Extent of Commitment of Maritime Companies in Lebanon to Implementing the IAS 16." International Journal of Economics and Finance 12, no. 9 (August 30, 2020): 111. http://dx.doi.org/10.5539/ijef.v12n9p111.
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The study examined the extent of commitment of maritime companies in Lebanon to implementing the International Accounting Standard (IAS) 16. It aimed at recognizing the extent to which maritime firms in Lebanon apply the International Accounting Standard (IAS) 16 by explaining the financial statements and their features and constituents. A five-point Likert style questionnaire was constructed as a study tool to collect information from the sample that consisted of 70 people who were accountants at maritime companies in Lebanon in addition to auditors of these companies. From the 70 questionnaires distributed, 63 were retrieved. The research concluded that maritime companies in Lebanon apply the IAS 16 in the income statement and the statement of financial position. The researchers recommended that the International Accounting Standards Board (IASB) should set up a clear and coordinated approach to deal with the issue of the periodic maintenance for ships, especially that the IAS 16 did not specify a preferred approach to settle this issue; rather, the IASB left it for the companies to choose the most convenient approach. They also recommended increasing disclosure of Lebanese maritime companies using the procedures followed in determining, depreciating and itemizing fixed assets in the financial statements.
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Maghfiroh, Siti. "PERLAKUAN AKUNTANSI ASET BIOLOGIS BERDASARKAN IAS NO. 41 DAN PSAK NO. 69." El Muhasaba: Jurnal Akuntansi 8, no. 2 (April 18, 2018): 203. http://dx.doi.org/10.18860/em.v8i2.4975.
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The goal research is knowing biology asset accounting treatment in recognition, measurement, and display in financial statement and also to know comparison biology asset company accounting treatment based on Financial Accounting Standard, IAS 41 Agricultutreand PSAK 69 Agriculture. This research uses qualitative descriptive approach with case study approach that conducted in PT. Perkebunan Nusantara XII (Persero). This research is Ex Post Facto research that this goal research is to research event in the past and then trace to the back from that data to discover pre-factors or determine enable causes to event that researched. Research subject is PT. Perkebunan Nusantara XII (Persero). Research result shows that PT. Perkebunan Nusantara XII (Persero) that moves in plantation field recognize biology asset as plantation plant is classified to “immature plant” and “produce plant”. Biology asset is being measured by result cost and display in constant asset. PT. Perkebunan Nusantara XII (Persero) still doesn’t apply IAS 41 Agriculture and PSAK 69 Agriculture, depend on financial statement of company that measure biological asset in result cost with unproper price.
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Khalilov, Sh, and A. Karimov. "Improvement of National Accounting Standards Based on IAS 7." Bulletin of Science and Practice 6, no. 11 (November 15, 2020): 294–99. http://dx.doi.org/10.33619/2414-2948/60/36.
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As a result of the improvement of the investment climate in the Republic of Uzbekistan, the direct inflow of direct investment to the sectors of the economy and regions is rising. Nowadays, an accounting and reporting system needs to be adapted to the requirements of international accounting standards for joint ventures and foreign companies to conduct their business operations. In accordance with the above requirements, we conducted a study to adapt the national standard to requirements of IFRS standards. As a result of the research, we proposed to change the phrase “Financial Institutions” instead of “Bank Institutions” in NAS 9. Scientifically based proposals were developed to change the national standard to classify for interest and dividends received and interest and dividend paid by type of activity under IFRS.
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Outa, Erick Rading, Peterson Ozili, and Paul Eisenberg. "IFRS convergence and revisions: value relevance of accounting information from East Africa." Journal of Accounting in Emerging Economies 7, no. 3 (August 14, 2017): 352–68. http://dx.doi.org/10.1108/jaee-11-2014-0062.
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Purpose The purpose of this paper is to examine the relative value relevance of accounting information arising from the adoption of converged and revised International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) in East Africa. Design/methodology/approach The research applies “same firm year” design for identification of the effects of changes in accounting standards. A model similar to Ohlson’s price model and random-effects GLS are used to estimate R2 of the regressions of share prices on book values and earnings. Findings The results show that accounting information prepared from revised and converged IAS/IFRS display higher value relevance and also increased following the revision and convergence of IAS/IFRS. The cross-product term is more significant in the post-revision/convergence period thus providing further evidence for increased value relevance after the revision of IAS/IFRS. The results are robust to various models and show that value relevance in East Africa is relatively lower than that of the developed markets. Originality/value The current study provides empirical evidence that value relevance increases with converged/revised IAS/IFRS based on quasi natural experimental setting in East Africa. The authors also extend the debate on whether value relevance is relevant in emerging markets, which are regarded as imperfect markets with few regulations, weak enforcement and limited sources of information. The results may be useful to accounting preparers, regulators, investors, standard setters and countries seeking to adopt IAS/IFRS in developing countries.
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Abdul Adzis, Azira, David W. L. Tripe, and Paul Dunmore. "IAS 39, income smoothing, and pro-cyclicality: evidence from Hong Kong banks." Journal of Financial Economic Policy 8, no. 1 (April 4, 2016): 80–94. http://dx.doi.org/10.1108/jfep-05-2015-0026.
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Purpose The purpose of this study is to investigate the impact of International Accounting Standard 39 (IAS 39) on income-smoothing activities and pro-cyclical behavior through loan loss provisions using a sample of Hong Kong banks. Design/methodology/approach Fixed effects estimator is used, and the analysis covers the period from 2000 to 2009. Findings The results suggest that Hong Kong banks engage less in income-smoothing activity after they comply with the IAS 39. No evidence supports loan loss provisions of Hong Kong banks exhibiting more pro-cyclical behavior after IAS 39 adoption. Research limitations/implications Compliance with IAS 39 should improve the quality of bank financial reporting. The reduction in income-smoothing activities among Hong Kong banks after IAS 39 adoption fairly supports the effectiveness of International Financial Reporting Standard (IFRS) and countries that have yet to comply with IFRS may take action to apply the standards. Bank regulators should take pro-active action in addressing the issue of pro-cyclicality of loan loss provisions, as IAS 39 focuses more on improving the financial information quality, while pro-cyclicality is associated with the economic cycles. Originality/value Hong Kong banking industry is unique, as it was among the first IFRS adopters in the East Asia region and it has its own legal framework for developing accounting standards. The results of this study are expected to shed some light on the effects of IAS 39 adoption on income smoothing and pro-cyclicality of banks in the East Asia region, where the accounting cultural value dimensions and institutional structures are different than that of European countries.
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Soldatkina, O. A. "ACTUAL ISSUES OF FORMATION OF DATA ABOUT RESERVES ACCORDING TO RUSSIAN AND INTERNATIONAL REQUIREMENTS." Vestnik of Khabarovsk State University of Economics and Law, no. 1-2 (October 20, 2020): 37–43. http://dx.doi.org/10.38161/2618-9526-2020-1-2-28.
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The article reflects the results of a study that describes similarities and differences between the current re-quirements of IFRS (IAS) 2 and the new Federal Accounting Standard (FAS 5/2019) on formation of data in financial statements about reserves. Special attention is paid to the problems of recognition, estimation, classification and accounting of reserves under new requirements.
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Boumediene, Salem Lotfi, Ridha Zarrouk, and Ines Tanazefti. "Obstacles To The Adoption Of The IAS/IFRS In Tunisia." Journal of Applied Business Research (JABR) 32, no. 3 (May 2, 2016): 621–36. http://dx.doi.org/10.19030/jabr.v32i3.9646.
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To guarantee the production of financial information that is useful for economic decision-making, most countries have a set of accounting standard used in preparing the financial statements. Indeed, the use of a common accounting language by all companies operating in the same economic space allows different users to monitor the activities of these entities in time and space and, therefore, take reasonable decisions. Thereby, the international accounting standards are a necessary to clarify the financial disclosure and make reading financial statements conform to a single repository easier. This strengthens the investor’s confidence, stimulates the financial market and ensures the best qualities that the financial information should be endowed. In deciding to adopt the international accounting standards IAS/IFRS, Tunisian authorities have launched a challenge to prompt a fast and adequate transition to a new accounting, financial, informational, organizational and internal control systems. However, this presents some obstacles related to the nature of the Tunisian economy which is characterized by a strong presence of small and medium companies, to the differences between the tax system and the accounting system, the conservative attitude of leaders and the high concentration of ownership. The results of our research analysis shows that the conservative attitude of managers and the lack of dynamic and efficient markets are the most important obstacles to adoption of IAS/IFRS in Tunisia according to the Tunisians Certified Public Accountants TCPAs). We detailed our analysis for the accounting, tax and economic obstacles. For the accounting, we found that the application of IAS 19, IAS 36 and IFRS 4 are the standards that cause more problems at the moment of their implementation according to the TCPAs. In addition, the deferred tax, the actuarial method and the treatment financial instruments are the most complex treatments in IAS/IFRS. Finally, the differences between the Tunisian accounting system and the international system are undoubtedly an important obstacle. Concerning the tax obstacles, we found that companies prepare their financial statements first in accordance with tax rules. In fact, the differences between the tax rules of the Tunisian accounting system and the IAS/IFRS are undoubtedly an obstacle to a better adoption of them. In addition, another obstacle is the readiness of tax administration for the adoption of the IAS/IFRS. Finally, for the economic obstacles, we found that the IAS/IFRS’ adoption and implementation costs and the costs related to their enforcement are the main economic obstacles.
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Bohušová, Hana. "General aaproach to the IFRS and US GAAP convergence." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 59, no. 4 (2011): 27–36. http://dx.doi.org/10.11118/actaun201159040027.
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Two most significant organizations in the field of financial reporting regulation setters in the world – the Financial Accounting Standard Board (FASB) and the International Accounting Standards Board (IASB) have recognized that in order international capital markets to function properly, a single set of high-quality international accounting standards designed especially for listed companies around the world must exist. The effort should be especially aimed at spreading the IFRS around the world and the FASB – IASB Convergence. The most significant difference between the US GAAP and IFRSs is in the area of the general approach. The IFRSs are based on basic accounting principles with limited application guidance, US GAAPs are based especially on rules with specific application guidance. The main objective of this work is to assist in the development of an improved common conceptual framework that provides a sound foundation for developing future accounting standards.The structure of the paper is divided into three parts. The theoretical background presents the historical development of the IAS/IFRS and US GAAP convergence efforts in general. The second part of the paper is aimed at the comparative analysis of conceptual frameworks (the IAS/IFRS and US GAAP). At the end, based on the results of the comparative analysis, the basic principles for a common conceptual framework, which should be applicable, are clarified. The paper uses the standard methods of scientific work. Firstly, the method of description is used to describe the development in the area of IAS/IFRS and US GAAP convergence. Then, a comparative analysis is used to discuss the differences in the position a principles of conceptual frameworks the IAS/IFRS and US GAAP. At the end the method of synthesis, deduction and induction is used.
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ROHOZNYI, Serhii. "International regulation practice of accounting of lease (rental) operations: comparative aspect." Naukovi pratsi NDFI 2020, no. 3 (December 4, 2020): 95–108. http://dx.doi.org/10.33763/npndfi2020.03.095.
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Lease is a convenient tool of financing for lessees and popular object for investing for the lessors. Also lease operations are the objects of national and international regulation. The purpose of the article is to analyze the globally applicable international regulations of lease transactions in terms of their accounting. The main features of their implementation in the world in general and in Ukraine in particular is also an important direction. The basis of this study is the dialectical method of scientific cognition and the systematic approach. Using analysis and synthesis, the features of normative legal lease regulation and its main elements were determined. Grouping and comparison method allowed to study in detail old and new approaches of international financial reporting standards (IFRS) regarding lease. Information modeling and tabular methods were the basis for the forming of results and visual presentation of the generalizations and conclusions. The importance of IFRS in the context of global harmonization of accounting approaches in the world are explored in the article. The feasibility of introducing a new rental standard from January 1, 2019 is implemented. The key differences between IAS 17 and IFRS 16 in terms of terminology and classifications are identified. A comparative characteristic of accounting models underlying IAS 17 and IFRS 16 is conducted. Peculiarities of introducing a new category “right-of-use asset” into the balance sheet and options for its reflection on accounting accounts are investigated. IFRS for SME in terms of lease transactions is analyzed and its similarity in all key aspects to IAS 17 is revealed. Due to the complexity of leasing operations, the relevance of specialized clarifications and consultations is considered. The sphere of scientific interests of foreign scientists in the accounting for lease operations is analyzed.
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Mear, Kim, Michael Bradbury, and Jill Hooks. "Is the balance sheet method of deferred tax informative?" Pacific Accounting Review 32, no. 1 (December 12, 2019): 20–31. http://dx.doi.org/10.1108/par-02-2019-0020.
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Purpose This study aims to compare the value relevance of the recognised deferred tax elements under International Accounting Standard 12 (IAS 12): Income Taxes (balance sheet method) relative to the taxes payable (flow through) method. It also investigates the value relevance of the IAS 12 deferred tax disclosures. Design/methodology/approach This study used standard valuation models to examine the association between share price and the recognised amounts and footnote disclosures of IAS 12. The Vuong (1989) test is then used to assess which information set is more value relevant. The sample includes 440 firm years over the period 2008-2012. Findings The results show that deferred tax amounts recognised under the balance sheet method provide no more information to investors than the taxes payable method (TPM). Deferred tax footnote disclosures, however, are more relevant than the amounts recognised under the balance sheet method. This study investigates potential reasons for the relevance of footnote disclosures. Research limitations/implications This study has not addressed whether the deferral method of deferred tax is relevant. In addition, while footnote disclosures look promising, further research is necessary. Practical implications The results suggest, given the complexity and cost of compliance with IAS 12, that the International Accounting Standards Board (IASB) should undertake a comprehensive re-think on the relevance of the balance sheet method in IAS 12 and revert to the TPM. Originality/value The IASB and the European Financial Reporting Advisory Group have expressed concerns over the balance sheet method under IAS 12. The IASB and the Financial Accounting Standards Board also have concerns over the cost and complexity of the deferred tax disclosures. The study’s results offer a perspective by examining whether the balance sheet method is value relevant. Prior research has addressed this issue using local data (i.e. pre-International Financial Reporting Standards). This study also provides suggestions for future research into deferred tax footnote disclosures.
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Adnan Budaraj, Isa. "The Level of Compliance with International Accounting Standard IAS 18 by Listed Firms in Bahrain." Journal of Investment and Management 4, no. 5 (2015): 216. http://dx.doi.org/10.11648/j.jim.20150405.22.
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Mardini, Ghassan H., Louise Crawford, and David M. Power. "Perceptions of external auditors, preparers and users of financial statements about the adoption of IFRS 8." Journal of Applied Accounting Research 16, no. 1 (May 11, 2015): 2–27. http://dx.doi.org/10.1108/jaar-09-2012-0066.
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Purpose – The purpose of this paper is to explore the perceptions of external auditors, preparers and users (investors and analysts) of financial statements in Jordan about this new segmental reporting standard; a decision usefulness framework underpins the research. Design/methodology/approach – The objective of this study is to explore the perceptions of external auditors, preparers and users (investors and analysts) of financial statements in Jordan about this new segmental reporting standard; a decision usefulness framework underpins the research. Findings – The findings reveal that a majority of interviewees found that IFRS 8 was not a problematic standard, and that the management approach of IFRS 8 was an improvement on the previous standard – International Accounting Standard (IAS) 14R – because the information produced was seen as useful to users of financial statements. Moreover, the respondents indicated that there was an improvement in the quantity and quality of segmental information under IFRS 8 in annual reports for 2009; it was more understandable, relevant, reliable and comparable than the segmental information which had previously been reported. Research limitations/implications – No attempt was made to assess the usefulness of segmental information reported under IFRS 8 by Jordanian listed companies in their annual reports for other groups such as lenders, suppliers, customers, trade creditors and the general public (IASC, 1989). Thus, a survey about the impact of IFRS 8 on other groups may yield further insights about the decision usefulness of the new standard’s disclosures. However, Jordanians are not familiar with such research instruments and the culture within the society is relatively secretive (Piro, 1998). Practical implications – The findings of the current research should be valuable for international accounting standard setters at the International Accounting Standards Board. It provides some indication about the impact of this new standard. Originality/value – This research shows that segmental information reported under IFRS 8 is more useful for decision makers needs compared to segmental information that previously reported under IAS 14R. It also provides a great insight about the impact of this new segmental disclosure standard.
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Carvalho, Cláudia Daniela Ferreira da Mota, Fábio Henrique Ferreira de Albuquerque, Joaquín Texeira Quirós, and Maria do Rosário Fernandes Justino. "An Analysis of Differences in Terms of Professional Interests Based on the Project to Replace IAS 39." Revista Contabilidade & Finanças 26, no. 68 (August 2015): 181–94. http://dx.doi.org/10.1590/1808-057x201500530.
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<p>The professional interests of the various stakeholders groups are often seen as obstacles to full accounting harmonization. Studying different professional interests in the accounting domain is significant for organizations involved in the international accounting harmonization process, insofar as it enables them to identify the main obstacles to face in order to achieve full harmonization. Thus, this article is aimed at analyzing the differences in terms of professional interests by addressing the participation of various stakeholders groups in the process of issuing/modifying standards of the International Accounting Standards Board (IASB). Based on content analysis, we examined the comment letters sent to the IASB in the context of the first part of the first phase of the project to replace the International Accounting Standard (IAS) 39, entitled "Financial Instruments - Recognition and Measurement", by the International Financial Reporting Standard (IFRS) 9, on its turn entitled "Financial Instruments". Respondents were identified according to the stakeholders group, and, later, the collected data underwent a nonparametric chi-square test. The results of this study indicate there are significant differences between the answers obtained from the various stakeholders groups involved in the process of issuing or reviewing a standard of the IASB, above all made clear between the group of financial preparers and the regulatory and/or standard-setting agencies and the professional associations related to accounting.</p>
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Ozili, Peterson K. "Impact of IAS 39 reclassification on income smoothing by European banks." Journal of Financial Reporting and Accounting 17, no. 3 (September 2, 2019): 537–53. http://dx.doi.org/10.1108/jfra-08-2018-0068.
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Purpose The purpose of this study is to examine the impact of the reclassification of International accounting standard (IAS) 39 on income smoothing using loan loss provisions among European banks. Design/methodology/approach Regression methodology is used to determine the extent of income smoothing using loan loss provisions before and after IAS 39 reclassification. The authors predict that the strict recognition and re-classification requirements of IAS 139 reduced banks’ ability to smooth income using bank securities and derivatives, motivating them to rely more on loan loss provisions to smooth income. The authors test this hypothesis over a sample of 114 European banking institutions over the period 2005 to 2013. Findings The findings do not support the prediction for income smoothing through loan loss provisions. Also, there is no evidence for income smoothing in the pre- and post-IAS 39 reclassification period. Research limitations/implications The implication of the findings is that the European banks did not use loan loss provisions to smooth income during the period examined, and rather rely on other accounting numbers to smooth income. This implies that the International Accounting Standards Board’s strict disclosure regulation improved the reliability and informativeness of loan loss provision estimates among European banks during the period of analysis. Originality/value This study is the first attempt to analyze the effect of IAS 39 re-classification on bank’s ability to smooth income in Europe.
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Hnatiuk, O. M., and O. I. Bala. "National and Foreign Experience of Stocks Management: The Accounting Aspect." Business Inform 2, no. 517 (2021): 244–49. http://dx.doi.org/10.32983/2222-4459-2021-2-244-249.
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The publication defines the economic content of the concept of «stocks»; a comparative analysis of interpretation of this category in view of the content is carried out; the approaches to the interpretation of constituent elements of the enterprise’s stocks are analyzed; the peculiarities of accounting and analytical management along with reflection of stocks in the balance sheet of the enterprise in accordance with normative legislative acts are determined. Also the peculiarities of foreign practice of stock accounting are explored and analyzed. An overview of stock management in economically developed countries comparing with national practice is carried out. The peculiarities of attribution of certain types of assets to stocks, both in Ukraine and abroad, are determined. Both the common and the distinctive features of stock management of either the national or the foreign accounting are identified. A study of the main provisions of the national (standard) of accountance 9 «Stocks» and the international standard of accounting 2 «Stocks» is carried out. The economic content of the category of «stocks» is defined in accordance with both above mentioned standards. A comparative analysis of the stock accounting methods according to IAS and PSBO is carried out. The advantages and disadvantages of each of the methods are determined. The possibilities and expediency of consolidation of the provisions of the national regulation (standard) of accounting with international accounting are considered. Proposals have been formed to improve the process of stock accounting on the basis of the provisions (standard) of national accounting and in accordance with the norms of the international accounting standard 2 «Stocks». It is proved that the harmonization of the typical provisions of the PSBO and IAS, especially for entities engaged in international economic activity, will facilitate to manage the condition and quality of stocks, which is the key to effective production and economic cooperation. At this, the authors recommend the following: improve the accounting of stocks regarding their content and classification; improve the financial, accounting and management display of stocks; improve economic analysis, control and audit on the efficiency of application; automate accounting processes.
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Masoud, Najeb. "Libya’s IAS/IFRS Adoption and Accounting Quality: What Lessons from the European Union Experience." International Journal of Accounting and Financial Reporting 4, no. 1 (April 5, 2014): 118. http://dx.doi.org/10.5296/ijafr.v4i1.5477.
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This study provides a review of the literature on adoption of IAS/IFRS in Libya, the time the IFRS standards decision is made in EU countries and the time IAS/IFRS adoption becomes undertaking in Libyan economy. The adoption of IAS/IFRS in Europe on the quality of financial reporting is an example of accounting standardisation among countries with different institutional frameworks and implementation rules. Impacts of this adoption in Libya will gain many benefit include the improve quality of financial reporting, less earnings management, more comparability, and provide more reliable, accurate, transparency, and high relevance for stock price determination of financial accounting information. These findings could be fruitful and helpful for outside users of accounting reports and also for regulators and legislators in their attempts to constrain the incidence of earnings accounting practises and to enhance the quality of accounting information. To explore the relevance (applicability) of international accounting standards to developing countries such as Libya is a topic of significant interest amongst disclosure (non-accounting information) users. This is a key subject for standard setting purposes as IAS/IFRS have been adopted in many different nations all over the world, and many others are likely to adopt them in the near future (including, Libya). Finally the main limitations of this study are outlined and opportunities for future research are discussed, particularly in relation to this study’s findings about the requirement to reconsider the usefulness of the relationship between accounting practices and framework adoption of IAS/IFRS in Libya.
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Malijebtou Hassine, Nour, and Faouzi Jilani. "Determinants of Goodwill Impairment Losses under IAS 36: The French Case." International Journal of Accounting and Financial Reporting 7, no. 1 (June 13, 2017): 343. http://dx.doi.org/10.5296/ijafr.v7i1.11291.
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The present paper investigates the determinants of goodwill impairment losses under IAS 36. More specifically, this study examines the impact of earnings management, corporate governance and financial crisis on goodwill impairment losses reported by French firms following the adoption of IAS 36 on purchased goodwill. Based on a sample of 730 observations from 107 groups of companies that belong to the SBF 250 over the period 2006-2012, the findings of this research confirm largely our predictions. Indeed, main results show that managers impair goodwill to meet earnings management motives linked to CEO change, earnings smoothing, big bath accounting and financial crisis. Moreover, they reveal that French firms impair goodwill to response to debt renegotiation hypothesis. In addition, the findings demonstrate that French firms audited by a Big Four auditor record lower goodwill impairment losses. Thus, they highlight the role of audit quality to constrain managerial opportunism associated to goodwill impairment.This study illuminates the accounting standard-setters in understanding the determinants of goodwill impairment losses in France under IAS 36. Therefore, it contributes to the international actual debate on goodwill and to the international accounting literature.
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Papadeas, Panagiotis, Alina Barbara Hyz, and Evaggelia Kossieri. "IAS Basel: The Contribution of Losses to the Banks' Capital Adequacy." International Journal of Business and Social Research 7, no. 2 (March 20, 2017): 01. http://dx.doi.org/10.18533/ijbsr.v7i2.1032.
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<p>The main aim of this paper is to examine the consequences of International (Accounting) Financial Reporting Standards / IFRS - IASB and deferred taxation for banks in Eurozone area. The analysis used data from Annual Reports of four systemic Greek banks, which control around 95 percent of the sector's assets and 90 percent of total deposits. The results suggests that increasing banks' losses may improve their capital adequacy. The paper is organized as follows: in the next section we briefly present interactions between IASB and BASEL aiming at preventing banking and accounting problems at international level during the last decades. This is followed by the comparative analysis of banking supervision accords and the presentation of International Accounting Standard 12: Income Taxes. The research methodology, the data sources used in the analysis and research results are presented and discussed in section four. Last section summarizes the conclusions and presents further opportunities for research.</p>
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Selimović, Jasmina, and Benina Veledar. "IMPACT OF IAS 19 ACTUARIAL CALCULATIONS’ ON FINANCIAL PERFORMANCE: EVIDENCE FROM PUBLIC ENTERPRISES IN FEDERATION OF BOSNIA AND HERZEGOVINA." Ekonomska misao i praksa 30, no. 1 (June 2021): 267–83. http://dx.doi.org/10.17818/emip/2021/1.13.
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International Accounting Standard 19 - Employee Benefits outlines the accounting requirements for employee benefits, including short-term benefits, post-employment benefits, other long-term benefits and termination benefits. The standard establishes the principle that the cost of providing employee benefits should be recognized in the period in which the benefit is earned by the employee, rather than when it is paid or payable, and outlines how each category of employee benefits is measured. Aim of the paper is to determine the degree of IAS 19 implementation in Federation of Bosnia and Herzegovina, and its impact on financial performance of public enterprises. Since no significant negative impact of the implementation of IAS 19 on the financial performance has been proven, it could be recommended that the observed entities consider all its advantages and thus realize the potential benefits for both, the company and the employees.
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., Fitriani. "The Differences Of Ijarah Financing and Conventional Lease On Islamic Law and Accounting Perspectives." IQTISHADUNA 8, no. 2 (December 1, 2018): 139–48. http://dx.doi.org/10.20414/iqtishaduna.v8i2.689.
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The main objective of this study is to explore the nature of accounting for Ijarahfinancing and its differences with conventional lease financing from the Islamic law and accounting perspectives.The study makes a comparison between the International Accounting Standard on leasing (IAS 17); the accounting standard for Ijarah (FAS 8) as developed by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI); and Statement of Financial Accounting Standards (Pernyataan Standar Akuntansi Keuangan/PSAK 107). The study found that there are major differences as to the nature of leasing and Ijarah, and as a result accounting principles that have driven all the three standards as well as accounting techniques developed for leasing and Ijarah are significantly different.
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Wei, Xing. "The Case Analysis of Presentation and Disclosure about other Comprehensive Income." Applied Mechanics and Materials 687-691 (November 2014): 4691–94. http://dx.doi.org/10.4028/www.scientific.net/amm.687-691.4691.
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This article selects the financial statement established by the CNPC(China National Petroleum Corporation) for the year 2013 according to the Chinese accounting standard for business enterprises as an example, analysis of the problems of presentation and disclosure of other comprehensive income in our country, and contrast and analyze the stipulation about other comprehensive income presentation and disclosure stipulated by the IAS (International Accounting Standards) and FASB statements.
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Polo, Andrea. "Fair value and corporate governance." Corporate Ownership and Control 6, no. 1-3 (2008): 382–84. http://dx.doi.org/10.22495/cocv6i1c3p5.
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Recently two discussion papers on a new paradigm for the International Accounting Standards (IAS) have attracted much controversy. In the new proposed paradigm the definition of fair value used in the US standard SFAS 157 for financial instruments and acquisitions is extended to all the IAS and stewardship is abolished as a separate objective of financial reporting. In this work, we revise the reasons behind these proposals and the criticisms they are attracting. In the light of this analysis and especially focusing on the corporate governance concerns, we discuss the opportunity for the IASB to retrace their steps back and to avoid pushing the fair value approach too far.
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Hijazin, Maen Yousef Khalaf, and Dr Saeed Mikhled Ahmad Al-naimat. "The Impact of the Application of International Accounting Standard 34 (IAS 34) on the Industrial Public Shareholding Companies’ Sector in Jordan." Journal of Economics and Public Finance 5, no. 4 (November 8, 2019): p404. http://dx.doi.org/10.22158/jepf.v5n4p404.
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This study aims at identifying the extent to which IAS 34 (Interim financial reporting) is applied in the Jordanian public shareholding companies, along with highlighting the impact of its application on individual investors at these companies. Study population consists of all Jordanian public shareholding industrial companies (45 companies) listed at Amman Stock Exchange. Due to the large number of the study population, preparers of financial statements (employees of companies), and individual investors, we have selected a simple random sample. The total number of preparers of financial statements (employees), and individual investors were (500) individuals who were selected for the sample. The results showed that all companies are committed to issue and publish interim financial reports within the period specified for that purpose. There is a statistically significant relationship between the variables relevant to the company including (the firm's nature, profitability, and age) and the compliance with issuing the reports and the information content of the financial statements. Moreover there are statistically significant differences in the extent to which IAS 34 is applied in the Jordanian public shareholding companies. These differences arise due to the personal and occupational characteristics of the preparers of financial statements (gender, age, qualification, position, and experience).