The introduction of the New Public Management （NPM） has not bridged the differences among the various European accounting traditions. In Italy, in particular, there are still different accounting methods in all publ...The introduction of the New Public Management （NPM） has not bridged the differences among the various European accounting traditions. In Italy, in particular, there are still different accounting methods in all public sectors. In the healthcare system, these differences have emerged more strongly. The recent Italian reform on accounting harmonization seems to be the answer to this accounting disharmony and represents a means of controlling public expenditure. This study aims to analyze the consolidated financial statement and the consolidated cash flow statement of the regional healthcare system as a new tool for the accounting harmonization. This paper is divided into two logical parts： In the first part, the authors analyze how the new accounting model is evolving under the current reform; in the second part, the authors analyze the consolidated financial statement and the consolidated cash flow statement that has been applied experimentally over the last two years in the Umbria Region.展开更多
With the Directive No. 2013/34/EU dated June 26, 2013, the Parliament and the European Council have decreed a new era for the financial statements of companies in the EU member countries. The introduction of the new d...With the Directive No. 2013/34/EU dated June 26, 2013, the Parliament and the European Council have decreed a new era for the financial statements of companies in the EU member countries. The introduction of the new directive aims to improve the coverage information of the accounting document and to begin a process of simplification of administrative burdens and standards for the preparation and publication of the financial statements. In Italy, the directive must be transposed by July 20, 2015 for which the associations of accountants are evaluating the specific contents of the new rules to make applications for Italian companies. Some of the new rules and above all part of the new structures of the schemes of the financial statements are quite different from the approaches currently in use for which very heated discussions are taking place.展开更多
In practice, the international accounting harmonization process faces cultural resistance in the concrete situations of accounting reforms. We often tend to believe that this resistance is felt more in the so-called e...In practice, the international accounting harmonization process faces cultural resistance in the concrete situations of accounting reforms. We often tend to believe that this resistance is felt more in the so-called emerging countries, rather than the developed ones. It is precisely this idea that the paper attempts to analyze, based on a literature review. The literature shows that emerging countries do not have the infrastructure or the real needs justifying a reform of international harmonization, except the need to display an IFRS label （Daske, Hail, Leuz, ＆ Verdi, 2007）, to facilitate the access of firms from emerging economies to developed financial markets. Moreover, the Anglo-American culture attached to IFRS leads to a difficulty in adopting those standards by any country whose original accounting system is continental. Indeed, for these countries, the process of international harmonization begins with an adaptation to the Anglo-Saxon accounting culture, the latter being different from the continental accounting culture at several levels.展开更多
Cross-border M＆As are important to the participating countries. I posit that mandatory International Financial Reporting Standards （IFRS） adoption lowers the systemic information noise embedded in countries＇ accou...Cross-border M＆As are important to the participating countries. I posit that mandatory International Financial Reporting Standards （IFRS） adoption lowers the systemic information noise embedded in countries＇ accounting standards. This reduces the associated information processing costs and enhances the economic role accounting standards play on cross-border M＆A flows. After mandatory IFRS adoption, a 1% increase in accounting standards disparity suppresses bilateral M＆A flows by around 2%; a decrease in accounting standards disparity helps promote bilateral M＆A flows when paired countries＇ governance infrastructure gaps are relatively wider. I do not find that these associations were significant prior to mandatory IFRS adoption. Overall, this paper documents an evolving economic role accounting standards play on bilateral cross-border M＆A flows and sheds light on the economic benefits of adopting IFRS for policy makers.展开更多
文摘The introduction of the New Public Management （NPM） has not bridged the differences among the various European accounting traditions. In Italy, in particular, there are still different accounting methods in all public sectors. In the healthcare system, these differences have emerged more strongly. The recent Italian reform on accounting harmonization seems to be the answer to this accounting disharmony and represents a means of controlling public expenditure. This study aims to analyze the consolidated financial statement and the consolidated cash flow statement of the regional healthcare system as a new tool for the accounting harmonization. This paper is divided into two logical parts： In the first part, the authors analyze how the new accounting model is evolving under the current reform; in the second part, the authors analyze the consolidated financial statement and the consolidated cash flow statement that has been applied experimentally over the last two years in the Umbria Region.
文摘With the Directive No. 2013/34/EU dated June 26, 2013, the Parliament and the European Council have decreed a new era for the financial statements of companies in the EU member countries. The introduction of the new directive aims to improve the coverage information of the accounting document and to begin a process of simplification of administrative burdens and standards for the preparation and publication of the financial statements. In Italy, the directive must be transposed by July 20, 2015 for which the associations of accountants are evaluating the specific contents of the new rules to make applications for Italian companies. Some of the new rules and above all part of the new structures of the schemes of the financial statements are quite different from the approaches currently in use for which very heated discussions are taking place.
文摘In practice, the international accounting harmonization process faces cultural resistance in the concrete situations of accounting reforms. We often tend to believe that this resistance is felt more in the so-called emerging countries, rather than the developed ones. It is precisely this idea that the paper attempts to analyze, based on a literature review. The literature shows that emerging countries do not have the infrastructure or the real needs justifying a reform of international harmonization, except the need to display an IFRS label （Daske, Hail, Leuz, ＆ Verdi, 2007）, to facilitate the access of firms from emerging economies to developed financial markets. Moreover, the Anglo-American culture attached to IFRS leads to a difficulty in adopting those standards by any country whose original accounting system is continental. Indeed, for these countries, the process of international harmonization begins with an adaptation to the Anglo-Saxon accounting culture, the latter being different from the continental accounting culture at several levels.
文摘Cross-border M＆As are important to the participating countries. I posit that mandatory International Financial Reporting Standards （IFRS） adoption lowers the systemic information noise embedded in countries＇ accounting standards. This reduces the associated information processing costs and enhances the economic role accounting standards play on cross-border M＆A flows. After mandatory IFRS adoption, a 1% increase in accounting standards disparity suppresses bilateral M＆A flows by around 2%; a decrease in accounting standards disparity helps promote bilateral M＆A flows when paired countries＇ governance infrastructure gaps are relatively wider. I do not find that these associations were significant prior to mandatory IFRS adoption. Overall, this paper documents an evolving economic role accounting standards play on bilateral cross-border M＆A flows and sheds light on the economic benefits of adopting IFRS for policy makers.
