This paper investigates the Italian firms' disclosure in response to the new guidance on the management commentary (MC) contained in the International Financial Reporting Standard (IFRS) practice statement issued...This paper investigates the Italian firms' disclosure in response to the new guidance on the management commentary (MC) contained in the International Financial Reporting Standard (IFRS) practice statement issued by International Accounting Standards Board (IASB) in 2010. The study is organized as follows. After reviewing the relevant literature on financial disclosure and MC, this paper examines the content of the Italian management's report-----known as "Relazione sulla Gestione" and that of the recent IASB's IFRS practice statement. Hence, it applies a self-constructed disclosure index and a multiple correspondence analysis (MCA) on MC of a sample of 66 Italian non-financial listed firms. The results show that the level of disclosures provided by the Italian listed firms does not seem to be affected by the IASB's guidelines. However, the survey highlights large differences in the level and type of disclosure provided in MC among the sectors and firms. This paper aims to contribute to the financial reporting debate by understanding the IASB's guidelines and their impacts on the voluntary disclosure practices of Italian listed firms.展开更多
This paper is of conceptual nature. The considerations are based on literature studies and empirical research carried out in 2009 and 2011 among the members of supervisory board in Polish public companies. The purpose...This paper is of conceptual nature. The considerations are based on literature studies and empirical research carried out in 2009 and 2011 among the members of supervisory board in Polish public companies. The purpose of this article is to present a new business reporting model extended by the supervisory board's reports. The part of this article, which is based on the literature research, clarifies the scope of modem business reporting, being a part of a company's information system. This article includes management commentary proposal prepared by the International Accounting Standards Board (IASB). The authors proposed a supplement to the management commentary which is a global model of disclosures accompanying financial statements. According to the concept presented in this article, information prepared and disclosed by managers in financial statements and management commentaries are parts of a larger reporting system-corporate reporting supply chain. This paper mainly proposes an extension of a modem company's information system with a new channel of communication, such as supervisory board's reports. This article explains the role of a supervisory board associated with the conception. In the prepared conception, supervisory board becomes an active reviewer of management action. Moreover, it is also an active participant in the chain of corporate reports. Deliberations presented in this article are the voices in the debate on the shape of the modem business reporting.展开更多
Earning management is a pioneering research subject and a world problem rising in international economics and accounting field since 1980s. It is also common in listed companies of our country and has a degree of adve...Earning management is a pioneering research subject and a world problem rising in international economics and accounting field since 1980s. It is also common in listed companies of our country and has a degree of adverse effect on sound operation of market economy. The exploration on earning management firstly is based on knowing the related research achievements at home and abroad to compare the environment and background of different theories generating. Then the paper starts from the definition to analyze the effect of concrete accounting standards on earning management complemented with the proof of cases. Lastly, the paper analyzes the data of some listed companies from 2008 to 2011 with empirical method, and verifies the effect of implementing asset impairment criteria on earning management of listed companies from the view of industry. Focusing on the comparative study of industries, the paper draws valuableconclusion which is consistent with the real situation, and the paper refines the research of domestic earning management.展开更多
The starting point for the research was the evidence of a possible contradiction in the provisions of IAS 12 on goodwill and deferred income taxes, i.e., about the need to calculate deferred income taxation on tempora...The starting point for the research was the evidence of a possible contradiction in the provisions of IAS 12 on goodwill and deferred income taxes, i.e., about the need to calculate deferred income taxation on temporary differences relating to all assets except for goodwill. This paper aims at exploring the degree of consistency between the theoretical provisions of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) and their actual application by the management of Italian and Bulgarian listed companies, as regards the accounting treatments of deferred income taxes relating to the item "goodwill". The findings suggest that there are some differences between the accounting methods used by the management of most Italian listed companies and the provisions of IAS/IFRS. It can be argued that the rules given by IAS/IFRS are sometimes contradictory, since they may cause doubts in interpretation. As a consequence, in the end of the paper, an amendment to the provisions, set forth in IAS/IFRS concerning the accounting treatment of deferred income taxes relating to the item "goodwill", is proposed.展开更多
With the introduction of IFRS (International Financial Reporting Standards) most of the intangibles are expensed on the income statement and hence they "disappear" from the balance sheet, while investments in tang...With the introduction of IFRS (International Financial Reporting Standards) most of the intangibles are expensed on the income statement and hence they "disappear" from the balance sheet, while investments in tangible assets are capitalized. Based on a sample of 128 firms, made up of 99 SMEs (Small and Medium Enterprises) and 29 large firms, and through a simulation of IAS (International Accounting Standards) transition, the authors' study finds that IAS 38 reduces the amount of intangible assets recognized on the balance sheet of SMEs, while large firms do not appear to experience such large reductions in their intangible assets. The differential effect of IAS 38 on SMEs and large firms can be explained by the different growth strategies of these firm types. SMEs largely depend on internal paths of growth and intangibles assets that typically arise from internal growth strategies are eliminated from the balance sheet under IAS 38. Larger firms are less exposed to such reductions in their intangibles assets, because they mostly follow external paths of growth and the treatment of those intangible assets that typically arise from external growth strategies requires the impairment test.展开更多
文摘This paper investigates the Italian firms' disclosure in response to the new guidance on the management commentary (MC) contained in the International Financial Reporting Standard (IFRS) practice statement issued by International Accounting Standards Board (IASB) in 2010. The study is organized as follows. After reviewing the relevant literature on financial disclosure and MC, this paper examines the content of the Italian management's report-----known as "Relazione sulla Gestione" and that of the recent IASB's IFRS practice statement. Hence, it applies a self-constructed disclosure index and a multiple correspondence analysis (MCA) on MC of a sample of 66 Italian non-financial listed firms. The results show that the level of disclosures provided by the Italian listed firms does not seem to be affected by the IASB's guidelines. However, the survey highlights large differences in the level and type of disclosure provided in MC among the sectors and firms. This paper aims to contribute to the financial reporting debate by understanding the IASB's guidelines and their impacts on the voluntary disclosure practices of Italian listed firms.
文摘This paper is of conceptual nature. The considerations are based on literature studies and empirical research carried out in 2009 and 2011 among the members of supervisory board in Polish public companies. The purpose of this article is to present a new business reporting model extended by the supervisory board's reports. The part of this article, which is based on the literature research, clarifies the scope of modem business reporting, being a part of a company's information system. This article includes management commentary proposal prepared by the International Accounting Standards Board (IASB). The authors proposed a supplement to the management commentary which is a global model of disclosures accompanying financial statements. According to the concept presented in this article, information prepared and disclosed by managers in financial statements and management commentaries are parts of a larger reporting system-corporate reporting supply chain. This paper mainly proposes an extension of a modem company's information system with a new channel of communication, such as supervisory board's reports. This article explains the role of a supervisory board associated with the conception. In the prepared conception, supervisory board becomes an active reviewer of management action. Moreover, it is also an active participant in the chain of corporate reports. Deliberations presented in this article are the voices in the debate on the shape of the modem business reporting.
文摘Earning management is a pioneering research subject and a world problem rising in international economics and accounting field since 1980s. It is also common in listed companies of our country and has a degree of adverse effect on sound operation of market economy. The exploration on earning management firstly is based on knowing the related research achievements at home and abroad to compare the environment and background of different theories generating. Then the paper starts from the definition to analyze the effect of concrete accounting standards on earning management complemented with the proof of cases. Lastly, the paper analyzes the data of some listed companies from 2008 to 2011 with empirical method, and verifies the effect of implementing asset impairment criteria on earning management of listed companies from the view of industry. Focusing on the comparative study of industries, the paper draws valuableconclusion which is consistent with the real situation, and the paper refines the research of domestic earning management.
文摘The starting point for the research was the evidence of a possible contradiction in the provisions of IAS 12 on goodwill and deferred income taxes, i.e., about the need to calculate deferred income taxation on temporary differences relating to all assets except for goodwill. This paper aims at exploring the degree of consistency between the theoretical provisions of International Accounting Standards (IAS)/International Financial Reporting Standards (IFRS) and their actual application by the management of Italian and Bulgarian listed companies, as regards the accounting treatments of deferred income taxes relating to the item "goodwill". The findings suggest that there are some differences between the accounting methods used by the management of most Italian listed companies and the provisions of IAS/IFRS. It can be argued that the rules given by IAS/IFRS are sometimes contradictory, since they may cause doubts in interpretation. As a consequence, in the end of the paper, an amendment to the provisions, set forth in IAS/IFRS concerning the accounting treatment of deferred income taxes relating to the item "goodwill", is proposed.
文摘With the introduction of IFRS (International Financial Reporting Standards) most of the intangibles are expensed on the income statement and hence they "disappear" from the balance sheet, while investments in tangible assets are capitalized. Based on a sample of 128 firms, made up of 99 SMEs (Small and Medium Enterprises) and 29 large firms, and through a simulation of IAS (International Accounting Standards) transition, the authors' study finds that IAS 38 reduces the amount of intangible assets recognized on the balance sheet of SMEs, while large firms do not appear to experience such large reductions in their intangible assets. The differential effect of IAS 38 on SMEs and large firms can be explained by the different growth strategies of these firm types. SMEs largely depend on internal paths of growth and intangibles assets that typically arise from internal growth strategies are eliminated from the balance sheet under IAS 38. Larger firms are less exposed to such reductions in their intangibles assets, because they mostly follow external paths of growth and the treatment of those intangible assets that typically arise from external growth strategies requires the impairment test.