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1
Vergoossen, Ruud, and Frans Van Der Wel. "Wereldstandaard financiële verslaggeving: IFRS of US GAAP?" Maandblad Voor Accountancy en Bedrijfseconomie 76, no. 12 (2002): 565–73. http://dx.doi.org/10.5117/mab.76.13793.
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De roep om een wereldstandaard voor de financiële verslaggeving is groot. De Europese Unie heeft gekozen voor de International Financial Reporting Standards (IFRS) die in 2005 worden ingevoerd, terwijl de Verenigde Staten blijven vasthouden aan de United States Generally Accepted Accounting Principles (US GAAP). Dit artikel gaat in op de implementatie van de IFRS in de Europese Unie en de obstakels die een consistente interpretatie en toepassing van de IFRS in de weg kunnen staan. Daarna worden de IFRS vergeleken met de US GAAP en komt de positie van de IFRS in de Verenigde Staten aan de orde. In een korte slotbeschouwing wordt een drietal scenario’s geschetst om te komen tot een wereldstandaard. Het scenario waarbij de IFRS en de US GAAP naar elkaar toegroeien, lijkt, gegeven de omstandigheden, het meest realistisch en wenselijk (convergentiestrategie).
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Yallapragada, RamMohan R. "Incorporating International Financial Reporting Standards Into The United States Financial Reporting System: Timeline And Implications." International Business & Economics Research Journal (IBER) 11, no. 3 (2012): 283. http://dx.doi.org/10.19030/iber.v11i3.6860.
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In the United States of America (US), all the accounting procedures and guidelines for measurement and reporting by business firms are governed by a body of principles and concepts known as Generally Accepted Accounting Principles (GAAP). These GAAP are presently issued by the Financial Accounting Standards Board (FASB) with the authority delegated by the Securities and Exchange Commission (SEC). Historically, each country developed its own GAAP and there was no uniformity among the GAAPs of different countries. Comparison of financial statements issued by business firms from different countries has become impossible leading toward suboptimal capital allocation across countries in the world. Gradually, with the advent of multinational corporations, there emerged a global demand for convergence of GAAP of different countries into a single set uniform accounting standards applicable to all countries. Initiative for uniform global accounting standards came from International Accounting Standards Committee (IASC) which was established in 1973. The IASC formed International Accounting Standards Board (IASB) in 2001 which began issuing International Financial Accounting Standards (IFRS). Till now about 100 countries have adopted IFRS for their financial reporting purposes. The SEC has yielded to the global pressure to adopt IFRS in the US. SEC has set a timeline for US business firms to change over from US GAAP to IFRS. This paper presents the background and development of the movement of IFRS, timeline for the change in US and the implications involved in the adoption of IFRS in the US.
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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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Ernstberger, Jürgen. "The value relevance of accounting data according to IFRS and us GAAP: The case of Germany." Corporate Ownership and Control 6, no. 3 (2009): 177–95. http://dx.doi.org/10.22495/cocv6i3c1p2.
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This paper compares the value relevance of IFRS, US GAAP and national GAAP in a specific institutional setting. Using a sample of all listed firms in Germany which have voluntarily adopted IFRS or US GAAP we apply three different valuation models as well as a return model in our analysis. Whereas under IFRS and Germany GAAP book value of equity is relatively more value relevant than net income, we find a different result for US GAAP. Additionally, the results of our study suggest that IFRS accounting produces more value relevant data than HGB and US GAAP. However, the differences in the value relevance of the accounting systems are lower than expected.
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Langendijk, Henk, and Bart Van Praag. "De externe verslaggeving van Enron." Maandblad Voor Accountancy en Bedrijfseconomie 76, no. 6 (2002): 253–62. http://dx.doi.org/10.5117/mab.76.17494.
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Het doel van dit artikel is om de externe verslaggeving van Enron omtrent verbonden partijen, in het bijzonder de SPE’s, te behandelen en voorzover mogelijk te toetsen aan US GAAP. Hiertoe wordt in paragraaf 2 ingegaan op het fenomeen SPE, de criteria onder US GAAP om als SPE te kwalificeren en de toelichting die US GAAP vereist in het jaarrapport met betrekking tot verbonden partijen, in het bijzonder SPE’s. In paragraaf 3 wordt de werking van bepaalde transacties tussen Enron en enkele SPE’s behandeld, toegespitst op twee hoofdvormen: a. hedgetransacties Is door Enron voldaan aan de vereisten van US GAAP ten aanzien van de verwerking en toelichting van haar verbonden partijen, in het bijzonder de special purpose entities (SPE’s)? In dit artikel wordt deze vraag beantwoord, waarbij eerst kort wordt ingegaan op de relevante vereisten van US GAAP. Voorts wordt ingegaan op enkele transacties van Enron met haar SPE’s, teneinde de problematiek te illustreren. Vervolgens zijn de jaarrapporten Enron 1999 en 2000 getoetst aan de vereisten van US GAAP. Geconcludeerd kan worden dat deze jaarrapporten van Enron ten aanzien van SPE’s niet voldoen aan de vereisten van US GAAP.
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Cipriano, Michael, Elizabeth T. Cole, and John Briggs. "Value relevance and market valuation of assets measured using IFRS and US GAAP in the US equity market." International Journal of Accounting & Information Management 30, no. 1 (2021): 95–114. http://dx.doi.org/10.1108/ijaim-06-2021-0126.
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Purpose Studies show firms reporting using Generally Accepted Accounting Principles in the United States (US GAAP) and International Financial Reporting Standards (IFRS) are similarly valued in the market, however, these studies are limited due to the noise present in international studies from regulatory differences. This study aims to eliminate much of this noise by using a cleaner sample of all listings with the Securities Exchange Commission (SEC). This paper also looks at more detailed book value figures. Design/methodology/approach There have been previous studies on the differences in market valuation of firms reporting using IFRS vs US GAAP. Most of this research is confounded with difficulties due to different regulatory environments and volatile time periods. The study uses cleaner data following the SEC’s acceptance of IFRS financials without a 20-F Reconciliation. The authors use a large sample of non-US firms trading on US exchanges choosing to use either US GAAP or IFRS for SEC reporting purposes. The sample period starts two years after the SEC’s acceptance of IFRS financials without a 20-F reconciliation and is larger than earlier samples. Findings The authors show that there is no difference between IFRS and US GAAP firms’ overall value relevance, however, earnings are more value relevant when measured using IFRS and book value is more value relevant when measured using US GAAP. The authors find that the difference between US GAAP and IFRS can be explained, at least in part, by greater market multiples being placed on inventories and goodwill using US GAAP. This is offset in part by greater multiples being placed on other assets under IFRS. Originality/value The authors replicate earlier studies but also extend with a better sample and more detailed finings.
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Bakker, R. W., and Ruud Vergoossen. "US GAAP en de jaarrekening van Nederlandse ondernemingen." Maandblad Voor Accountancy en Bedrijfseconomie 78, no. 11 (2004): 489–96. http://dx.doi.org/10.5117/mab.78.12777.
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In dit artikel wordt verslag gedaan van een onderzoek naar de mate waarin Nederlandse ondernemingen met een beursnotering in de Verenigde Staten de United States Generally Accepted Accounting Principles (US GAAP) toepassen in hun in Nederland gepubliceerde jaarrekening. Daartoe is onderzocht in hoeverre deze ondernemingen in de periode 1995-2002 grondslagwijzigingen hebben doorgevoerd die leiden tot het (meer) toepassen van US GAAP en is nagegaan wat de belangrijkste verschillen tussen US GAAP en de Nederlandse verslaggevingsregels zijn zoals die blijken uit de jaarrekening 2002. Bovendien omvat het onderzoek een vergelijking van de additionele informatieverschaffing in de in Nederland gepubliceerde jaarrekening 2002 en de jaarrekening 2002 zoals opgenomen in het Form 20-F dat bij de Securities and Exchange Commission is gedeponeerd. De onderzoeksresultaten worden vergeleken met eerder soortgelijk onderzoek. Hoewel de in het onderzoek betrokken ondernemingen meer en meer waarderings- en resultaatbepalingsgrondslagen toepassen die in overeenstemming zijn met US GAAP, wordt het aantal in de aansluitingsoverzichten opgenomen afwijkingen tussen de cijfers op basis van US GAAP en die op basis van de Nederlandse verslaggevingsregels niet kleiner, maar juist groter. Daarnaast blijkt dat veel additionele informatie die in de Verenigde Staten verplicht is, ook steeds vaker terechtkomt in de in Nederland gepubliceerde jaarrekening.
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Bohušová, Hana. "Development of the common standard for revenue recording as a part of the US GAAP and IAS/IFRS systems convergence." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 57, no. 6 (2009): 29–44. http://dx.doi.org/10.11118/actaun200957060029.
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The most significant difference between US GAAP and IFRSs is in the area of general approach. IFRSs are based on basic accounting principles1 with limited application guidance, US GAAPs are based especially on rules with specific application guidance. FASB and IASB initiated their joint project on revenue recording to converge IFRS and US GAAP in this area. The main objective of this paper is comparative analysis of revenue recognition under both systems, evaluation of the most significant differences in revenue recognition and measurements as a starting point for the preparation of the new general standard for revenue recognition and the new approach to the revenue recognition development.In this paper, the current approaches to revenue recognition under both systems are compared. The most significant difference is the general approach to revenue recognition. There is the Conceptual Framework where revenue is defined, two standards on revenue recognition and interpretations concerning revenue recognition and measurement in the IAS/IFRS. On the other hand, there are many standards and guidance concerning revenue in the US GAAP. Revenue is defined in the Statements of Financial Accounting concepts (CON 5, CON 6). There is not any general standard for revenue recognition under the US GAAP. The most significant differences in revenue recognition concern the long-term contracts and deferred payments. Despite this difference, there are many similarities between both systems.Based on the results of the comparative analysis which was done in the paper, a new approach for revenue recognition based on principles for the new general standard for revenue recognition common for both systems is being developed.
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Knoops, Chris. "Bijzondere waardeverminderingen: mogelijkheden tot resultaatsturing?" Maandblad Voor Accountancy en Bedrijfseconomie 78, no. 1 (2004): 1–4. http://dx.doi.org/10.5117/mab.78.10807.
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Bieden bijzondere waardeverminderingen van activa een goede mogelijkheid tot resultaatsturing? Passen ondernemingen ‘big bath accounting’ toe, of is er sprake van een robuuste impairment-toets? Hoe is het mogelijk dat bijzondere waardeverminderingen van goodwill en overige immateriële vaste activa bij Ahold en KPN in 2002 op basis van Amerikaanse verslaggevingsgrondslagen (US GAAP) vele malen hoger zijn dan op basis van Nederlandse verslaggevingsgrondslagen (NL GAAP)? Hoe is het uit te leggen dat de jaarrekening een getrouw beeld geeft van vermogen en resultaat als Ahold over 2002 op basis van US GAAP een nettoverlies rapporteert dat meer dan 3,5 keer zo groot is als op basis van NL GAAP (4,3 miljard euro tegenover 1,2 miljard euro verlies) en op basis van US GAAP een eigen vermogen rapporteert dat bijna 3 keer zo hoog is als het eigen vermogen op basis van NL GAAP (15,5 miljard tegenover 5,5 miljard euro)?
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Alhaj-Yaseen, Yaseen S., Kean Wu, and Leslie B. Fletcher. "Accounting Standards and Earnings Quality — Evidence from Registered ADRs." Review of Pacific Basin Financial Markets and Policies 21, no. 04 (2018): 1850022. http://dx.doi.org/10.1142/s0219091518500224.
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This paper examines the changes in earnings quality of registered American Depositary Receipts (ADRs) as a result of switching accounting standards. We aim to shed light on the potential impact of International Financial Reporting Standard (IFRS) adoption on US firms. A suboptimal approach to achieve this goal is through examination of US firms’ surrogates such as ADRs. Unlike previous studies, we made a distinction between registered and unregistered ADRs and affirmed that registered ADRs are the closest surrogates with which to conduct our analysis because they are exclusively required to adhere to the Securities and Exchange Commission (SEC)’s stringent disclosure requirements. When cross-listing their equity on the US exchanges, foreign issuers can file their financial reports with the SEC using IFRS, US GAAP (generally accepted accounting principles), or their domestic GAAP with reconciliation to US GAAP. An improvement in earnings quality is documented when ADRs adopt US GAAP or IFRS versus domestic GAAP. However, when the comparison is made between US GAAP and IFRS, no difference in earnings quality is documented. These results indicate that switching to high-quality accounting standards is likely to improve earnings quality. This improvement is maximized when the difference between reporting standards is high and minimized if otherwise. Our conclusion is that the adoption of IFRS in the US is unlikely to change earnings quality of local issuers. Moreover, we drew a distinction between reconciliation with and adoption of high-quality accountings standards and find that while the former can enhance earnings quality, the latter can further improve it.
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Harris, Peter, and Liz Washington Arnold. "US GAAP Conversion To IFRS: A Case Study Of The Balance Sheet." Journal of Business Case Studies (JBCS) 9, no. 2 (2013): 133–40. http://dx.doi.org/10.19030/jbcs.v9i2.7699.
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International Reporting Standards (IFRS) has become the required framework for most of the world financial market economies. In the United States, US Generally Accepted Accounting Principles (GAAP) is still required. However, plans are presently in place by the SEC to abandon US GAAP and to adhere to IFRS requirements by as early as the period ending December 31, 2014. This case study requires the student to transform a US GAAP presented Balance Sheet to IFRS and is most suitable for an Intermediary Accounting 11 and a Financial Analysis class at the graduate level.
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ter Hoeven, Ralph. "US GAAP en convergentie met IFRS. Een overzicht van ontwikkelingen sinds Enron en Norwalk." Maandblad Voor Accountancy en Bedrijfseconomie 88, no. 5 (2014): 166–75. http://dx.doi.org/10.5117/mab.88.31290.
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In dit artikel worden de ontwikkelingen binnen US GAAP beschreven sinds het Enron-schandaal en de Norwalk-overeenkomst tussen de Amerikaanse Financial Accounting Standards Board (FASB) en de International Accounting Standards Board (IASB). Deze twee gebeurtenissen, die beide rond 2002 plaatsvonden, hebben grote invloed gehad op de structuur en de inhoud van US GAAP. In dit artikel worden deze invloeden beschreven en geanalyseerd waarbij nadrukkelijk de resultaten van de door de IASB en FASB gezamenlijk opgestarte convergentieprojecten worden besproken. Tevens wordt aandacht besteed aan de toekomst van US GAAP zoals blijkt uit publicaties van de Securities and Exchange Commission (SEC) mede in verband met het feit dat de Norwalk-overeenkomst zijn laatste fase ingaat. In dit laatste kader ga ik met name in op de vraag of en in hoeverre US GAAP vervangen zal worden door IFRS.
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Rinke, Dolores. "Case Study: Differences Between US And International Financial Statements." Journal of Business Case Studies (JBCS) 7, no. 5 (2011): 101–2. http://dx.doi.org/10.19030/jbcs.v7i5.5608.
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This case examines the differences in format and terminology in financial statements between US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). Students download the financial statements of two different companies in the same industry; i.e., Nokia (reporting under IFRS) and Motorola (reporting under US GAAP). Questions related to the differences in format and terminology are addressed.
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Gray, Dahli, and Clemense Ehoff Jr. "Lower Of Cost Or Market Inventory Valuation: IFRS Versus US GAAP." Journal of Business & Economics Research (JBER) 12, no. 1 (2013): 19. http://dx.doi.org/10.19030/jber.v12i1.8372.
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The lower of cost versus market (LCM) controversy regarding inventory cost measurement is presented. The differences between International Financial Reporting Standards (IFRS) and United States (US) Generally Accepted Accounting Principles (GAAP) are analytically compared. The link between US federal tax law and US GAAP is emphasized relative to a discussion of deferred taxes and potential US federal income tax revenue.
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Harris, Peter, and Liz Washington Arnold. "US GAAP Conversion To IFRS: A Case Study Of The Income Statement." Journal of Business Case Studies (JBCS) 8, no. 4 (2012): 409–16. http://dx.doi.org/10.19030/jbcs.v8i4.7034.
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International Reporting Standards (IFRS) has become the required framework for most of the world financial market economies as of January 1, 2011. In the United States, US Generally Accepted Accounting Principles (GAAP) is still required. However, plans are presently in place by the SEC to abandon US GAAP and to adhere to IFRS requirements by as early as for the period ending December 31, 2014. This case study requires the student to transform a US GAAP presented Income Statement to IFRS. This case study is most suitable for an Intermediary Accounting or a Financial Analysis class at the graduate level.
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Solsma, Lori, and W. Mark Wilder. "Pro forma disclosure practices of firms applying IFRS." International Journal of Accounting & Information Management 23, no. 4 (2015): 383–403. http://dx.doi.org/10.1108/ijaim-12-2014-0083.
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Purpose – The purpose of this paper is empirically investigate the pro forma disclosure behavior of US-listed foreign firms applying International Financial Reporting Standards (IFRS). Design/methodology/approach – The annual earnings press releases of US-listed foreign firms on the New York Stock Exchange are analyzed to compare the effect that reporting standard (specifically IFRS) has on pro forma disclosure frequency, disclosure characteristics and benchmarking. Findings – US-listed foreign firms applying IFRS report pro forma disclosures more frequently than firms using the USA’s generally accepted accounting principles (GAAP), but less opportunistically. Originality/value – This paper extends Epping and Wilder’s (2011) study and contributes to the pro forma disclosure literature by providing a cross-country analysis of non-GAAP disclosure based on reporting standard (IFRS or US GAAP). Understanding the non-GAAP disclosure of firms applying IFRS is useful to investors and regulators, as more countries adopt IFRS.
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Brouwer, Tristan, Job Huttenhuis, and Ralph ter Hoeven. "Empirical results for expected credit losses of G-SIBs during COVID-19. The proof of the pudding is in the eating." Maandblad voor Accountancy en Bedrijfseconomie 95, no. 11/12 (2021): 381–96. http://dx.doi.org/10.5117/mab.95.75980.
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This study examines the provision for credit losses and its disclosures for Global Systemically Important Banks (G-SIBs) in connection to the COVID-19 crisis. We find a profound difference in the increase of the provision for credit losses between banks that report under IFRS and US GAAP. For banks that report under US GAAP, the provision for credit losses more than doubles, while it increases by only 32 percent for banks that report under IFRS. This difference becomes even more striking when considering that the increase for IFRS-reporting banks is partly attributable to increased lending activities. This study further finds that European auditors are more likely to issue a Key Audit Matter (KAM), than auditors of US banks, and that these KAMs specifically relate to COVID-19 in the financial year 2020. Furthermore, IFRS-reporting banks disclose more information on expected credit losses than banks that report under US GAAP. Moreover, we find that European banks disclose relatively more information regarding the impact of COVID-19 than banks reporting under US GAAP.
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Doni, Federica, Ross H. Taplin, and Roberto Verona. "Comparability of Company Accounts Using IFRS and US GAAP: Empirical Evidence of European and US Financial Statements." International Journal of Business and Management 11, no. 12 (2016): 54. http://dx.doi.org/10.5539/ijbm.v11n12p54.
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<p><strong>Purpose-</strong>The main objective of this study is to provide a judgment on the comparability of financial statements prepared under IFRS and US-GAAP. We developed two research questions for evaluating comparability within Europe (IFRS) and within the US (US GAAP) and for testing whether comparability is higher or lower when the US companies are included with the European countries.</p><p><strong>Design/Methodology/Approach-</strong>The T index framework was used to summarize the level of comparability for 13 accounting items using data from 250 companies.</p><p><strong>Findings</strong>-Empirical results are mixed. Of 13 accounting items considered, international comparability is significantly lower for 7 items and significantly higher for 4 items when the US companies are included. Furthermore, comparability amongst companies using IFRS is not consistently higher or lower than comparability amongst companies using US GAAP.</p><p><strong>Practical implications</strong>-Answers to the research questions may provide useful suggestions for IASB’s current policy direction towards global accounting standards convergence, and in particular for the IASB-FASB convergence project. The results also have implications for companies or countries considering shifting to IFRS or US GAAP.</p><p><strong>Research limitations/implications</strong>-Lack of comparability within countries, rather than between countries, suggests a need to focus on reducing options within standards rather than on differences between standards or countries.</p><strong>Originality value</strong>-Our empirical results show that in most cases lack of comparability may be driven by options within a standard rather than by explicit differences between standards.
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Penner, James, Jerry Kreuze, and Sheldon Langsam. "Long-Lived Asset Impairments in the Shipping Industry and the Impact on Financial Statement Ratios: Comparing U.S. GAAP and IFRS Standards." International Journal of Accounting and Financial Reporting 3, no. 2 (2013): 76. http://dx.doi.org/10.5296/ijafr.v3i2.4226.
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In this paper, we investigate asset impairment standards particularly as they relate to differences between United States generally accepted accounting principles (US GAAP) and international financial reporting standards (IFRS) for the impairment of long-lived assets in the shipping industry and the corresponding impact on financial statement analysis ratios. Our study provides evidence that return on assets and asset turnover ratios diverge significantly as a result of the difference between US GAAP and IFRS on asset impairments within the shipping industry. Reporting differences between US GAAP and IFRS can impede the comparability of financial reporting. Asset impairment accounting differences can have significant differences for companies reporting under these two accounting standards.
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S.A.Z. "International accounting—Similarities & differences—IAS, US GAAP and UK GAAP." International Journal of Accounting 33, no. 3 (1998): 402. http://dx.doi.org/10.1016/s0020-7063(98)90045-0.
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Harris, Peter, William Stahlin, and Moade Fawzi Shubita. "US GAAP Conversion To IFRS: A Case Study Of The Cash Flow Statement." Journal of Business Case Studies (JBCS) 10, no. 1 (2013): 15–20. http://dx.doi.org/10.19030/jbcs.v10i1.8325.
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International Reporting Standards (IFRS) has become the required framework for most of the world financial market economies as of January 1, 2011. This includes, in a non-comprehensive listing, the many European Union countries - Canada, Australia and New Zealand. In the United States, US Generally Accepted Accounting Principles (GAAP) is still required. However, plans are presently in place by the SEC to abandon US GAAP and to adhere to IFRS requirements by as early as for the period ending December 31, 2014. As such, it is important to introduce IFRS accounting rules in the college curriculum and make it a major component of accounting classes. This case study takes a US GAAP Prepared Cash Flow Statement and, based on the facts of the case, requires students to prepare an IFRS-based Cash Flow Statement. The need to understand both US GAAP and IFRS rules is required to adequately address this case study, which is most suitable for an Intermediary Accounting, Accounting Theory and a Financial Statement Analysis class, as well as an Investment Finance course, at the graduate level.
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Дмитриева, И., I. Dmitrieva, О. Дятлова, and O. Dyatlova. "Russian and Foreign Experience of Application of Tax Accounting." Auditor 3, no. 11 (2017): 30–35. http://dx.doi.org/10.12737/article_5a17ca103a67d0.01090894.
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In this article the authors review basic accounting principles US GAAP and IFRS for the realization of the main objective of fi nancial reporting, namely providing information needed by users for making decisions about investments and loans. Th e main characteristics of fi nancial information in accordance with US GAAP and IFRS are outlined.
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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 (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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Wright, Gail B., Daniel Fernandez, Jeremy Burns, Ryan Hawkins, Christina Hornsby, and Sunny Patel. "Big GAAP/Little GAAP: Will The Debate Ever End?" Journal of Business & Economics Research (JBER) 10, no. 5 (2012): 291. http://dx.doi.org/10.19030/jber.v10i5.6981.
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There has been an ongoing debate for decades, especially since the inception of the Financial Accounting Standards Board (FASB), over the appropriate application of generally accepted accounting principles (GAAP) to private companies. This so-called Big GAAP vs. Little GAAP debate has now come to a crisis point. The Financial Accounting Foundation (FAF) has taken a position that is contrary to the recommendations of the Blue Ribbon Panel on Standard Setting for Private Companies (the Panel) presented in January 2011, despite having been represented on the Panel. The American Institute of Certified Public Accountants (AICPA), also represented on the Panel, has responded by taking a strong stand in favor of the Panels position and against the new FAF recommendation and Invitation to Comment, published on October 4, 2011. Additionally, the International Accounting Standards Board has developed a set of reporting standards for small and medium size enterprises (IFRS for SMEs) that has not been recognized in the US. In this paper, we examine the history of the Big GAAP/Little GAAP debate in the US and internationally. We find substantial support for reducing requirements of private companies and recommend that International Financial Reporting Standards for Small to Medium-Sized Enterprises (IFRS for SMEs) be used for public companies of all sizes to be consistent with standards that have been accepted globally.
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Janjani, Reza. "Comparing US-GAAP and Iran-GAAP operating cash flows to predict future cash flows." Journal of Financial Reporting and Accounting 13, no. 1 (2015): 39–65. http://dx.doi.org/10.1108/jfra-06-2013-0047.
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Purpose – The main objective of this paper is to compare the ability of US-generally accepted accounting principles (GAAP) operating cash flows versus Iran-GAAP operating cash flows in predicting future cash flows. Design/methodology/approach – The sample comprises 240 firms (1,200 firm-years) during the period from 2004 to 2008 for which operating cash flows and other variables are available. Cross-sectional and panel data regression models are used in testing the hypotheses. Findings – This study finds that operating cash flows based on Iran-GAAP are no more effective in predicting future cash flows than those based on USA-GAAP, and the predictive ability of the model is improved by adding the earnings accrual components to the operating cash flows. Originality/value – The study suggests that the Iranian accounting standard setting committee recommends that the statement of cash flows be prepared based on the three-category model instead of the five-category model in an attempt to converge with the International Financial Reporting Standards. Consistent with Financial Accounting Standards Board and financial analyst recommendations, the results reveal that earnings are a better predictor than cash flows from operations.
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Guan, Yuyan, Ole-Kristian Hopeb, and Tony Kang. "Does Similarity of Local GAAP to US GAAP Explain Analysts' Forecast Accuracy?" Journal of Contemporary Accounting & Economics 2, no. 2 (2006): 151–69. http://dx.doi.org/10.1016/s1815-5669(10)70020-5.
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Ter Hoeven, Ralph. "Principle-based versus rule-based accounting standards." Maandblad Voor Accountancy en Bedrijfseconomie 79, no. 10 (2005): 475–85. http://dx.doi.org/10.5117/mab.79.11801.
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Als gevolg van het Enron-schandaal werd in de Verenigde Staten ferme kritiek geleverd op de rule-based structuur van US-General Accepted Accounting Principles (US-GAAP). Deze structuur zou teveel handvatten geven voor misbruik van managers en derhalve het herstel van het publieke vertrouwen in financiële markten in de weg staan. Zowel de Financial Accounting Standards Board (FASB) als de Security and Exchange Commission (SEC) hebben zich in de afgelopen periode uitgesproken over de wenselijkheid en haalbaarheid om US-GAAP te laten opschuiven naar een set van principle-based standards. In dit artikel worden de standpunten van achtereenvolgens de FASB en de SEC besproken en worden uitspraken gedaan over de verwachte richting van de aanpassingen binnen US-GAAP. Tevens geeft de auteur zijn visie over de optimale balans tussen rule-based-standards en principle-based standards mede aan de hand van recent verschenen Nederlandse literatuur.
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Harris, Peter. "A Case Study Of The Cash Flow Statement: US GAAP Conversion To IFRS." Journal of Business Case Studies (JBCS) 12, no. 1 (2016): 1–6. http://dx.doi.org/10.19030/jbcs.v12i1.9556.
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International Reporting Standards (IFRS) has become the required framework for most of the world financial markets effective on January 1, 2011. The United States is in a transformation stage, and it has not yet been determined when the US will adopt IFRS. The introduction of IFRS accounting rules into the curriculum is valuable because it presents an alternative method of accounting which can be used to heighten students understanding of GAAP. At present, the CPA Uniform CPA exam is testing IFRS and its testing content is increasing with each current test. Additionally, the CFA exam tests IFRS exclusively and has eliminated US GAAP from its curriculum, basing its action on the fact that the CFA examination is a global based exam. This case requires students to prepare an IFRS cash Flow Statement from a presented US GAAP presented Statement of Cash Flow, from a given set of facts in the case. This case study can be used at the undergraduate or graduate level. It is most suitable for Intermediate Accounting 2, Accounting Theory, Financial Statement Analysis, and an Accounting Capstone classes. Students must have or develop a solid understanding of both US GAAP and IFRS rules is required to adequately address this cash flow case study.
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Santos, Edilene Santana, Joanília Neide Sales Cia, and Josilmar Cordenonssi Cia. "US GAAP x normas brasileiras: mensuração do impacto das diferenças de normas no lucro duplamente reportado pelas empresas brasileiras emissoras de ADRS na NYSE." RAM. Revista de Administração Mackenzie 12, no. 1 (2011): 082–111. http://dx.doi.org/10.1590/s1678-69712011000100004.
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A falta de um conjunto único de normas contábeis válido para todos os países pode conduzir a resultados conflitantes. Por exemplo, entre as emissoras brasileiras de ADRs (American Depositary Receipts) na NYSE (New York Stock Exchange), a CEMIG apresentou em 2002 um prejuízo de R$ 12 milhões conforme as normas americanas (US GAAP) e, sob as normas brasileiras, um prejuízo de R$ 1 bilhão (ou seja, 83 vezes maior). Também a CSN apresentou no mesmo ano um lucro de R$ 6 milhões conforme os US GAAP (United States Generally Accepted Accounting Principles), contra um prejuízo de R$ 218 milhões conforme as normas brasileiras (ou seja, 30 vezes maior). Este estudo objetiva verificar se diferenças entre as normas contábeis brasileira e norte-americana (US GAAP) geram impacto significativo no resultado duplamente reportado no Formulário 20F pelas 30 emissoras brasileiras de ADRs na NYSE. Para mensurar o efeito dessas diferenças normativas no resultado foi utilizado o "Índice de Conservadorismo" (IC) de Gray, que mede o quanto um sistema contábil nacional gera lucros menores ("é conservador") ou maiores ("é otimista") em relação aos US GAAP. A média e a mediana do IC no período 2001 a 2005 indicaram conservadorismo das normas brasileiras, não confirmado pelo teste t-Student, mas corroborado pelo teste de Wilcoxon a 10% de significância. Dividindo-se em dois subperíodos, obteve-se um IC médio de 1,2 para 2001-2002 (significativo a 3,3%) e de 0,86 para 2003-2005 (significativo a 3%), indicando uma disparidade de comportamento: a contabilidade brasileira mostra-se mais otimista que os US GAAP até 2002, passando a mais conservadora a partir de 2003 até 2005.
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Yallapragada, RamMohan R., C. William Roe, and Alfred G. Toma. "The Prospects Of Replacing GAAP With IFRS In The United States." International Business & Economics Research Journal (IBER) 12, no. 1 (2012): 25. http://dx.doi.org/10.19030/iber.v12i1.7509.
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Historically, each country developed its own Generally Accepted Accounting Principles (GAAP) for financial accounting and reporting and there was no uniformity among the GAAPs of different countries. Comparison of financial statements issued by business firms from different countries has become difficult leading toward suboptimal capital allocation across countries in the world. Gradually, there emerged a global demand for convergence of GAAP of different countries into a single set uniform accounting standards applicable to all countries. As a result, the International Accounting Standards Committee (IASC) was established in 1973. The IASC formed International Accounting Standards Board (IASB) in 2001 which began issuing International Financial Accounting Standards (IFRS). At this point about 100 countries have adopted IFRS for their financial reporting purposes. In 2010, the US Securities Exchange Commission (SEC) stated that it would be able to make a decision on the adoption of the IFRS in the United States within that year and would allow a five-year period for complete transition, if it is decided to incorporate the IFRS into the U S reporting standards. An intense debate ensued for and against incorporation of IFRS into the US GAAP. Four alternative processes are suggested for the transition - outright adoption, convergence, endorsement, and co-endorsement. This paper presents details of each of these suggested alternatives and future perspective of the adoption of IFRS into the U S accounting and reporting system.
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DOWDELL, THOMAS D., BONNIE K. KLAMM, and ROXANNE M. SPINDLE. "Predicting cash flows related to defined benefit plan contributions." Journal of Pension Economics and Finance 9, no. 4 (2010): 505–32. http://dx.doi.org/10.1017/s1474747209990333.
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AbstractFuture contributions to defined benefit pension plans are a significant cash flow item that can be difficult to estimate. Funding ratios – pension assets relative to pension liabilities – have long been considered important for estimating cash flows needed for current and future pension contributions (Ballester et al., 1998). However, US GAAP or IFRS funding ratios that companies report in their financial statements may differ from funding ratios used by pension regulators. These regulatory funding ratios may be more useful for predicting future contributions.We investigate whether US regulatory and GAAP funding ratios are different and whether regulatory funding ratios provide useful information for predicting future contributions. For 3,877 firm years from 1995 through 2002, we observe that regulatory and GAAP funding ratios differ by more than 5% for 73% of our sample. We also find that predictions of future contributions are improved by using regulatory funding ratios in addition to GAAP funding ratios. Our results are relevant to accounting standard setters' ongoing review of pension accounting rules.
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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 (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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Sanko, Hanna, and Artem V. Koldovskyi. "Comparative analysis of IFRS and US GAAP." Financial Markets, Institutions and Risks 1, no. 1 (2017): 14–22. http://dx.doi.org/10.21272/fmir.1(1).14-21.2017.
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Τούντας, Κανέλλος, Νικόλαος Ηρειώτης та Πέτρος Καλαντώνης. "Οι Διαφορές Mεταξύ των US GAAP και των IFRS κατά τα έτη της Οικονομικής Κρίσης σε Βασικά Εννοιολογικά Μεγέθη Καθώς Επίσης και στις Καταστάσεις Ταμιακών Ροών". Εκπαίδευση, Δια Βίου Μάθηση, Έρευνα και Τεχνολογική Ανάπτυξη, Καινοτομία και Οικονομία 1 (11 травня 2017): 433. http://dx.doi.org/10.12681/elrie.807.
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<p>US GAAP είναι οι γενικά αποδεκτές λογιστικές αρχές που έχουν εγκριθεί και υιοθετηθεί από την Αμερικανική Επιτροπή Κεφαλαιαγοράς (SEC) ενώ τα Διεθνή Πρότυπα Χρηματοοικονομικής Πληροφόρησης ( ΔΠΧΠ ) – IFRS έχουν σχεδιαστεί ως κοινή παγκόσμια γλώσσα για επαγγελματικές υποθέσεις. Η διάθεση των επιχειρήσεων να αναπτυχθούν και σε ξένες αγορές δημιουργεί την ανάγκη για θέσπιση ενιαίων κανόνων λογιστικής. Έτσι γίνεται επιτακτική η ανάγκη να συγκλίνουν τα IFRS και τα US GAAP. Περίπου 127 χώρες έχουν υιοθετήσει τα IFRS, σύμφωνα με τους Warren , Reeve και Duchac (2014) και θα ανέλθουν σε 150 σύμφωνα με πρόβλεψη του Tyson (2011). Κατά την διαδικασία σύγκλισης διαπιστώνεται ότι τα IFRS αναμένεται να επηρεάζουν περισσότερο τις διεθνείς χρηματαγορές ενώ αντανακλούν καλύτερα την θέση μιας επιχείρησης. (Florou &amp; Kosi 2013). Στην παρούσα εργασία καταγράφονται βασικές ομοιότητες και διαφορές ανάμεσα στα IFRS και τα US GAAP απόρροια της οικονομικής κρίσης.</p>
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JAWARNEH, Saleh. "THE DIFFERENCE BETWEEN IFRS AND US GAAP IN FINANCIAL STATEMENT PRESENTATION." ANNALS OF THE UNIVERSITY OF ORADEA. ECONOMIC SCIENCES 30, no. 2 (2021): 309–17. http://dx.doi.org/10.47535/1991auoes30(2)032.
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This paper meticulously studies the main differences between US GAAP and IFRS when it comes to the presentation of financial statements focusing on the balance sheet and income statement more than the cash flow statement. A real-life case study (of a company called Hydro) approach was applied to see the effect of using on the system over the other by numbers, and how far applying one system affect the result of each financial statement, the case study shows a practical conversion of US GAAP results to IFRS and how each system lists the financial statements next to each other. There are multiple similarities between US GAAP and IFRS when it comes to the presentation of financial statements, but there are some differences that affect what financial information is presented, how it is presented, and where it is presented. For example, regarding financial statement presentation, cosmetic differences include the use of the accounting equation (A=L+SE) compared to (A-SE=L), terminology, and order of liquidity. The study is solely based on secondary data collected from different reliable sources like Ernst and Young. The findings of this research indicate that there are some notable differences between US GAAP and IFRS in financial statement presentation, but they are not significant. Finally, bringing together both systems increase the comparability of accounting practices and results to investors, greater investor desire for cross-regional investment, lower capital cost, more efficient resource allocation; And even higher economic growth not only for companies and institutions but also for government, which can be done by setting limits on how much they can vary.
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Parrino, Richard J. "Bringing order to non-GAAP financial measures: SEC sues to enforce “equal-or-greater-prominence” requirement." Journal of Investment Compliance 20, no. 4 (2019): 51–57. http://dx.doi.org/10.1108/joic-08-2019-0052.
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Purpose This article examines the first action by the US Securities and Exchange Commission to enforce the “equal-or-greater-prominence” requirement of its rules governing the presentation by SEC-reporting companies, in their SEC filings and earnings releases, of financial measures not prepared in accordance with generally accepted accounting principles (GAAP). Design/methodology/approach This article provides an in-depth analysis of the equal-or-greater-prominence rule and the SEC’s enforcement posture in the context of the SEC’s concern that some companies present non-GAAP financial measures in a manner that inappropriately gives the non-GAAP measures greater authority than the comparable GAAP financial measures. Findings Although the appropriate use of non-GAAP financial measures can enhance investor understanding of a company’s business and operating results, investors could be misled about the company’s GAAP results by disclosures that unduly highlight non-GAAP measures. The SEC’s enforcement action signals a focus on the manner in which companies present non-GAAP financial measures as well as on how they calculate the measures. Originality/value This article provides expert guidance on a major SEC disclosure requirement from an experienced securities lawyer.
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Costa, Fábio Moraes da, and Alexsandro Broedel Lopes. "Ajustes aos US-GAAPS: estudo empírico sobre sua relevância para empresas brasileiras com ADRs negociados na bolsa de Nova Iorque." Revista Contabilidade & Finanças 18, spe (2007): 45–57. http://dx.doi.org/10.1590/s1519-70772007000300005.
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A relevância das informações disponibilizadas ao mercado por empresas brasileiras com American Depositary Recepts (ADRs) negociados na Bolsa de Nova Iorque foi avaliada neste trabalho. Essas empresas devem atender à exigência da Securities and Exchange Commission e elaborar suas demonstrações contábeis de acordo com os United States Generally Accepted Accounting Principles (US-GAAP) até 30 de junho, anualmente. Diante desse fato, dois conjuntos de informações estão disponíveis, promovendo a base de dados para o estudo da relevância das variáveis lucro líquido e patrimônio líquido para o período entre 1999 e 2003. Após a utilização do modelo desenvolvido por Ohlson (1995) e de seus desdobramentos posteriores, os resultados evidenciam que (1) as informações elaboradas segundo os princípios de contabilidade geralmente aceitos no Brasil são relevantes; (2) as informações em US-GAAP disponibilizadas em junho possuem menor ou igual relevância do que as divulgadas em abril e (3) os ajustes aos US-GAAP efetuados no patrimônio líquido são relevantes para o mercado de capitais brasileiro.
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Senteney, David L., Grace H. Gao, and Mohammad S. Bazaz. "Impact of ADR Forms 20-F reconciliation on trading volume." International Journal of Accounting and Information Management 23, no. 3 (2015): 253–70. http://dx.doi.org/10.1108/ijaim-03-2014-0014.
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Purpose – This paper aims to investigate the impact of the filing of Form 20-F to the Securities and Exchange Commission (SEC) on short-term trading volume and return by those foreign firms which list their securities in the US Stock Exchanges. Design/methodology/approach – The authors collected 402 American depository receipt (ADR) firms from 38 different countries that listed their securities in the US Stock Exchanges over a 10-year period of 2000-2009. A regression model was used to examine such impact, including the post year 2007 SEC elimination of reconciliation. Findings – This paper found significant abnormal trading volumes and abnormal returns one day, two days and three days following the 20-F report for the sample firms whose financial statements were prepared under both home-country accounting principles and US generally accepted accounting principles (GAAP). Firms originally using international financial reporting standards (IFRS) do not present abnormal return and abnormal trading volume. This indicates that US investors view IFRS to be as high-quality as US GAAP. Research limitations/implications – The findings might be limited to this period and might not draw statistical inference for the future period. This evidence offers support for the SEC’s elimination of the reconciliation requirement to US GAAP. Practical implications – This study was carried out with the aim to investigate whether the release of Form 20-F by ADR firms offers any additional information useful to investors incorporating both abnormal return and trading volume, which is thought to be more sensitive. Originality/value – This paper investigates the short-term return and volume reactions caused by the earnings and equity reconciliation from home-country accounting standards or IFRS to US GAAP for foreign cross-listed firms in the USA.
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El-Gazzar, Samir M., and Philip M. Finn. "Restatements and accounting quality: a comparison between IFRS and US-GAAP." Journal of Financial Reporting and Accounting 15, no. 1 (2017): 39–58. http://dx.doi.org/10.1108/jfra-10-2015-0090.
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Purpose This paper aims to examine whether sanctioning adoption of IFRS for US firms would produce accounting information of the same quality as those produced under US Generally Accepted Accounting Principles (GAAP). This is a timely research since the Securities and Exchange Commission (SEC; 2014) has asked for further review. Design/methodology/approach This study uses restatements of financial statements made by a sample of foreign firms listed on US stock exchanges using International Financial Reporting Standards (IFRS) in comparison to a control sample of US firms using US GAAP during the period of 2001to 2010. Statistical analysis of the frequency, sources and magnitude of the restatements and market revaluations to the announcement of the restatements are examined. Cross-country differences are also examined. Findings The results indicate that IFRS firms have a lower rate of restatements than US GAAP firms but with no significant differences in terms of sources of restatements and the impact on net income or shareholders’ equity. The market revaluations to restatement announcements show no significant differences between the two accounting regimes. Cross-sectional analyses indicate IFRS firms are on average from countries characterized by weak rule of law, ineffective corruption controls and lower efforts to promote private sector advancement. Research limitations/implications The sample size in the paper is relatively small. To increase validity of the inferences from the Results, this issue should be readdressed with larger sample. Practical implications Results are important to accounting practitioners and policymakers. Social implications Results are contributing in clarifying the SEC’s concerns of adopting the IFRS by US-based firms; thus, saving the investors the additional efforts and costs in comparing financial statements prepared under different accounting regimes. Originality/value This research is the first to use restatements as accounting quality criteria. The results suggest that adoption of IFRS by US-based firms would not produce accounting information that is significantly different in quality from those generated under US GAAP. This result should be of interest to the SEC in clarifying its concerns.
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Saastamoinen, Jani, Arsen Djatej, Kati Pajunen, and M. David Gorton. "Practitioner views of goodwill accounting under US GAAP." Journal of Applied Accounting Research 21, no. 4 (2020): 783–98. http://dx.doi.org/10.1108/jaar-04-2019-0074.
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PurposeAccounting standards for goodwill may intensify the agency conflict. Since auditors evaluate intangible asset valuations, this study examines to what extent being an auditor (including Big 4 auditors) and being female as indicators of professional skepticism and conservatism predict accounting professionals' critical views of goodwill accounting under US GAAP.Design/methodology/approachStatistical analyses of a survey of accounting professionals in the Pacific Northwest region of the United States.FindingsThe respondents' views are dispersed from trust in GAAP to views reflecting management opportunism in goodwill accounting. While being an auditor (including Big 4 auditors) does not predict a critical perception, being a female auditor is correlated with critical views to some extent.Research limitations/implicationsThe survey was carried out in a limited geographical area and personal contacts were used to maximize the response rate, which may limit generalizability.Practical implicationsStandard setters can use the results to learn how practitioners perceive the current accounting standards for goodwill. The results provide users and preparers knowledge about potential pitfalls of goodwill accounting. Preparers could increase transparency to alleviate user concerns regarding managerial opportunism in goodwill accounting.Originality/valueThis paper extends the IFRS-based literature exploring practitioners' perceptions of accounting standards by focusing on goodwill accounting in the US GAAP environment. This study also contributes to the auditing literature by providing further evidence on how gender moderates an auditor's perception of accounting standards.
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Hussein Juma’h, Ahmad. "The materiality concept : implications for managers and investors." Revista Finanzas y Política Económica 6, no. 1 (2014): 159–68. http://dx.doi.org/10.14718/revfinanzpolitecon.v6.n1.2014.20.
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Discuss the implications of materiality of financial information on “earnings management”. Imply the content description and analysis of FASB Accounting Standards Codification™. The Professional View is used to confirm the absence of materiality guidelines in the US GAAP. Materiality, importance and significance are terms used to indicate the materiality consideration in the Codifications. The main conclusions are concerned to, first, the internal and external determinants and motives influence the practices of “earnings managements”, and second US GAAP do not offer well defined guidelines to apply materiality on decision making.
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Weißenberger, Barbara E., Anne B. Stahl, and Sven Vorstius. "Changing from German GAAP to IFRS or US GAAP: A Survey of German Companies." Accounting in Europe 1, no. 1 (2004): 169–89. http://dx.doi.org/10.1080/0963818042000262748.
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Pratama, Habib Arizal, and Abdul Kadir Usri. "METODE PENGUKURAN PROPERTI INVESTASI BERDASARKAN PSAK NOMOR 13 (ADOPSI IAS 40) VS US GAAP." El Muhasaba: Jurnal Akuntansi 6, no. 1 (2016): 82. http://dx.doi.org/10.18860/em.v6i1.3893.
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<p><strong>Abstract</strong><br /><br />The measurement of property held to find out the value of property investment. There is a fair value method and cost method which based on PSAK13 (adoption of IAS 40) and historical cost which based on US GAAP to measure investment property. The purpose of this research is to know the difference in the application of method of measurement of investment property based on PSAK 13 (adoption of IAS 40) and US GAAP and to know the impact of the differences in comparison the application of the method of measurement based on property investment PSAK 13 (adoption IAS 40) and US GAAP against operating profit PT Lippo General Insurance, Tbk in 2013. This research is using a descriptive qualitative approach. Data were collected using document methods. Data analysis was done by means of measuring the property with all methods, both fair value method, cost method and historical cost method. After measured, measurement results are compared and summed up the application of the method where the most profitable PT Lippo General Insurance, Tbk. The results showed that there is a difference between fair value and cost method based on PSAK 13 (adoption of IAS 40) and the historical cost method based on US GAAP. Application of fair value method is to do repeated measurements without depreciate investment properties each year . Application of cost method is to do a revaluation and depreciate investment properties each year . While in application of the historical cost method is to depreciate the investment property without the ways are re-evaluated every year . By applying different measurement methods, it would have an impact on the value of investment properties, thenumber of operating profit and performance of PT Lippo General Insurance, Tbk. Based on the measurement of property investment with all those methods, method of measurement of investment properties that provide the greatest impact against the value of investment properties, the number of operating profit and the company’s performance is by applying fair value method.</p><p><strong>Abstrak</strong></p><p>Pengukuran properti dilakukan untuk mengetahui nilai properti investasi. Terdapat metode nilai wajar dan metode biaya yang berdasarkan PSAK 13 (Adopsi IAS 40) dan metode nilai historis berdasarkan US GAAP untuk mengukur properti investasi. Tujuan penelitian ini adalah untuk mengetahui perbedaan penerapan metode pengukuran properti investasi berdasarkan PSAK 13 (Adopsi IAS 40) dan US GAAP dan untuk mengetahui dampak dari perbedaan perbandingan penerapan metode pengukuran properti investasi berdasarkan PSAK 13 (Adopsi IAS 40) dan US GAAP terhadap laba operasi PT Lippo General Insurance, Tbk pada tahun 2013. Penelitian ini menggunakan pendekatan kualitatif deskriptif. Data dikumpulkan dengan metode dokumetasi. Analisis data dilakukan dengan cara mengukur properti dengan semua metode, baik metode nilai wajar, metode biaya maupun metode biaya historis. Setelah diukur, hasil pengukuran dibandingkan dan disimpulkan penerapan metode mana yang paling menguntungkan PT Lippo General Insurance, Tbk. Hasil penelitian menunjukkan bahwa terdapat perbedaan antara metode biaya dan nilai wajar berdasarkan PSAK 13 (Adopsi IAS 40) dan metode biaya historis berdasarkan US GAAP. Penerapan metode nilai wajar adalah dengan melakukan pengukuran ulang tanpa mendepresiasi properti investasi setiap tahunnya. Penerapan metode biaya dalam melakukan pengukuran adalah dengan melakukan revaluasi dan mendepresiasi properti investasi setiap tahunnya. Sedangkan dalam penerapan metode biaya historis adalah dengan cara mendepresiasi properti investasi tanpa direvaluasi setiap tahunnya. Dengan menerapkan metode pengukuran yang berbeda, hal tersebut berdampak terhadap nilai properti investasi, jumlah laba operasi dan kinerja PT Lippo General Insurance, Tbk. Berdasarkan pengukuran properti investasi dengan semua metode, metode pengukuran properti investasi yang memberikan dampak terbesar terhadap nilai properti investasi, jumlah laba operasi dan kinerja perusahaan adalah dengan menerapkan metode nilai wajar.<strong><br /></strong></p>
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Coenenberg, Adolf G., and Wolfgang Schultze. "Funktionale Währungsumrechnung nach DRS, IFRS und US-GAAP." WiSt - Wirtschaftswissenschaftliches Studium 35, no. 12 (2006): 646–51. http://dx.doi.org/10.15358/0340-1650-2006-12-646.
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Schreiber, Susanne. "Deferred Charges in der Rechnungslegung gemäß US-GAAP." WiSt - Wirtschaftswissenschaftliches Studium 36, no. 3 (2007): 137–42. http://dx.doi.org/10.15358/0340-1650-2007-3-137.
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Gračanin, Šaban, Edin Kalač, and Vladimir Stančić. "Convergence of IFRS and US GAAP – New Model." Economic Research-Ekonomska Istraživanja 26, sup2 (2013): 321–34. http://dx.doi.org/10.1080/1331677x.2013.11517681.
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Stahl, Anne B. "Wechsel vom HGB auf IAS oder US-GAAP." Controlling und Management 46, no. 1 (2002): 33–36. http://dx.doi.org/10.1007/bf03254055.
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Schneider, Douglas K., Gordon S. May, and David R. Shaffer. "On The Credibility Of GAAP: Do Preparers, Auditors, And Users See Eye To Eye?" Journal of Applied Business Research (JABR) 10, no. 4 (2011): 77. http://dx.doi.org/10.19030/jabr.v10i4.5910.
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<span>The purpose of this study was to apply social-psychological research methods to address an issue in the development of general accepted accounting principles (GAAP). Of concern to the Financial Accounting Standard Board (FASB) in the development of GAAP is the attitudes of its constituent groups with respect to the credibility of GAAP. Our main objective was to assess any differences in the credibility perception of GAAP, as indicated by the three main groups of FASB constituents: corporate preparers of financial statements (preparers), CPAs who audit financial reports to ensure their adherence to GAAP (auditors), and accountants who us financial reports to make lending and investment decisions (users). The results indicated that auditors perception of the credibility of GAAP along eight credibility dimensions was significantly different than that of preparers and users of financial reporting. These results are important to the standard setting process because they indicate a lack of consensus among the three main FASB constituent groups, and may indicate an elevation of auditor views over those of users and preparers. Some implications of these results and suggestions for future research are discussed.</span>
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Ricketts, Robert C., Mark E. Riley, and Rebecca Toppe Shortridge. "Information content of IFRS versus GAAP financial statements." Journal of Financial Reporting and Accounting 16, no. 1 (2018): 120–37. http://dx.doi.org/10.1108/jfra-08-2016-0067.
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Purpose This study aims to determine whether financial statement users suffered a significant loss of information when, in November 2007, the SEC dropped the requirement for foreign private issuers using International Financial Reporting Standards (“IFRS firms”) to reconcile their financial statements to US generally accepted accounting principles (GAAP). Design/methodology/approach The study investigates whether analyst forecast errors and forecast dispersion increased for IFRS firms to a greater extent than for US GAAP firms after the Securities and Exchange Commission (SEC) dropped the reconciliation requirement. Using a treatment group comprised of IFRS firms and a matched sample of US GAAP firms, this study uses regression analyses to compare forecast errors and dispersion for the last fiscal year the reconciliation was available and the first fiscal year during which the reconciliation was unavailable to analysts. Findings The study finds evidence that forecast errors for IFRS firms exhibited no systematic change after the reconciliation was no longer available for analysts covering those firms. Thus, it does not appear that dropping the reconciliation requirement was associated with a change in forecast accuracy. However, the study does find evidence of increased dispersion in the IFRS firms’ forecasts relative to their US GAAP counterparts after the reconciliation requirement was dropped. Practical implications These findings have implications for evaluating the Securities and Exchange Commission’s 2007 decision to eliminate the reconciliation for IFRS firms. Specifically, the Securities and Exchange Commission’s decision does not appear to have significantly altered analysts’ information environments. Originality/value This paper contributes to the understanding of how a group of sophisticated financial statement users adapt to different sets of accounting standards.
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Abdallah, Wagdy. "The Conversion From US-GAAP To IFRS And Transfer Pricing: Irreconcilable Differences." Journal of Applied Business Research (JABR) 33, no. 1 (2016): 17–26. http://dx.doi.org/10.19030/jabr.v33i1.9864.
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Purpose - This paper aims to discuss the challenges the switch from US GAAP into International Financial Reporting Standards (IFRS) pose multinational companies (MNCs); to investigate the transfer pricing of intangible assets with several important trends in the global market; to analyze and discuss the impact of the conversion on intangible assets’ transfer pricing decisions; and to make recommendations to help alleviate problems associated with transfer pricing when switching to IFRS. Design/methodology/approach - The author addresses the conflicts between using the International Financial Reporting Standards and the transfer pricing policies as the multinational companies make the switch from using GAAP to the IFRS and propose some remedies to the related problems. Findings - Transfer pricing systems of MNCs should be carefully reviewed and updated because financial statement information is used and comparability of that information between tested parties and companies to which they are compared is critical to achieving a reliable analysis to help MNCs achieving their global strategic objectives. Research limitations/implications - This research focused on the significant implications on the American MNCs’ transfer pricing strategic decisions resulting from the adoption of the IFRS in general. Further research is still needed to examine the impact of the conversion process on both foreign subsidiaries and the MNC as a whole in different industries. Originality/value - The paper addresses an issue of significant implications on transfer pricing strategic decisions of intangible assets beyond financial reporting as a result of converting financial statements from U.S. GAAP to IFRS.