财务报告信息披露存在的问题及其治理措施

目前 ,由于种种原因使得财务报告的信息披露存在很多问题 ,对此应予以重视并采取相应措施加以解决。

对治理企业会计信息失真的探究

一、治理企业会计信息失真的必要性 企业会计信息是企业为有利害关系的集团和个人所提供的符合会计准则的资产、权益、收支、盈利等情况的资料.它是企业科学决策和经营管理的重要依据,也是国民经济宏观调控和微观管理的重要信息来源.会计信息的质量要求是真实、完整、透明、及时、可比.然而企业会计信息失真问题却是当前挥之不去,治而不愈的社会难题.

Financial Statements of Banks as a Source of Information About Implementation of IFRS 15： The Evidence from Poland

Banks in the economies of individual countries play the role of entities of public trust and are perceived as ＂too big to fail＂. In fact, they are exposed to risks associated with business operations. In practice, there are even instances of banks going bankrupt. Therefore, the reliability of the financial statements of a bank as a source of information about its financial condition is of particular importance. The main objective of creating IAS/IFRS and their implementation within the European Union is the strive to standardize accounting rules utilized by companies and other organizations. IFRS, as any other regulations, are subject to change over years. One of the recent changes is the introduction of IFRS 15 ＂Revenue from Contracts with Customers＂. In all entities using IAS/IFRS, communication of planned changes should involve disclosure ahead of time, regarding the analysis of their impact on the financial statements. The purpose of this paper has been to analyze whether the financial statements of banks contain any records on the impact of IFRS 15. These analyses are within the mainstream of studying how complete and prospective is the information contained in the financial statements for external users. The subjects for research are the consolidated financial statements of five major banks in Poland. As a result of research, it was found that in all studied cases, work on the implementation of IFRS 15 was observed. However, looking at every bank separately, a differentiated approach to presenting information on the standard is observed, which may be a hindrance for users of banks＇ financial statements.

Application of International Public Sector Accounting Standards in Vietnam in Current Conditions

The objective of improving the state accounting system is to build a state accounting system based on a single and complete database which is applied uniformly across all public authorities and agencies from central to local. Such an accounting system must ensure a reliable and smooth flow of information among all the entities that take part in the preparation, allocation, execution, and finalization of the state budget. In order to improve the quality of financial information, to harmonize, and to develop accounting profession globally, the trend of international economic integration requires the standardization of accounting legislative framework among countries and first of all, the harmonization and unification of the preparation, presentation, and disclosure of financial information. Financial statements of each business in the private sector and financial statements of the government in the public sector in different countries should be transparent and presented in accordance with the accounting standards and principles and in line with international practices so that the financial information will be able to be compared and evaluated. Therefore, financial statements of each entity in the public sector and the consolidated financial statements of public sector entities issued by the government in different countries must be prepared and presented in a unified form to suit the international public sector accounting standards. Accordingly, with the application of the interview method in research, the main objective of this article is to focus on searching for the bases and consideration for the application of international public sector accounting standards in Vietnam in current conditions. This article consists of eight sections： （1） what are international public sector accounting standards？ （2） accounting entities of the public sector; （3） the limitations of current public sector accounting in Vietnam; （4） financial information to meet the requirements of state management and to comply with international practices; （5） the advantages of applying international public sector accounting standards in Vietnam; （6） the difficulties and challenges of applying international public sector accounting standards in Vietnam; （7） learning experiences from other countries; and （8） conclusion.

A Comparative Analysis of Disclosures in Annual Reports

Public companies issue periodic annual reports to give information about the past financial and operational results while presenting the future strategies. Companies release non-financial information concerned with corporate sustainability issues like market share, customer loyalty, supply chain management, corporate governance, and human resources in annual reports as well as the audited financial reports. Annual reports, one of the important instruments of transparency and disclosure, are widely used by shareholders and stakeholders. Recent laws and regulations in the US, European Union, and Turkey require enhanced disclosures in annual reports. In the first part of this study, a comparative regulatory framework for annual reports will be established under the Sarbanes Oxley Act （SOX）, the Securities and Exchange Commission （SEC） filing requirements, the New Turkish Commercial Code, and regulations of Capital Markets Board （CMB） of Turkey. In the second part of this study, annual reports of four sample companies listed in the New York Stock Exchange （NYSE） and Corporate Governance Index of Borsa Istanbul will be discussed in the light of disclosure requirements of Form 20-F. Findings of this study support the hypothesis which states that regulatory environment has a positive impact on the quantity and quality of disclosures. Attention is drawn to the need for global standardization to reduce the reporting variances and the need for independent audit of annual reports to increase the reliability.

A Possible Narrative Section Harmonisation？ The Role of the Practice Statement Management Commentary

The Practice Statement provides a flexible approach to preparation of the management commentary, generating more meaningful disclosure and discussing those matters that are more relevant to the company＇s individual circumstances. In this direction, the International Accounting Standards Board （IASB） has highlighted some content elements recognised as being fundamental for guaranteeing the usefulness of the management commentary. With reference to these elements, it is interesting to analyse the level of disclosure of the financial reporting. These analyses aim to identify the themes dealt with most extensively by the companies and those that require greater attention so that the narrative section of the financial statement is, on the one hand, at least consistent with the suggestions of the guideline and, on the other hand, contains information that is useful for the users. Lastly, in the light of the relevant European Union （EU） directives, the results of the analysis will help to formulate considerations on the ability of the IASB guideline to improve the completeness of the narrative section. All this is examined in a cross-country dimension： Financial reports in Italy and the United Kingdom （UK） are examined. The content analysis methodology is applied. Within the financial reporting, the management discussion is examined in particular. The analysis is performed considering 2008. This qualitative paper will contribute to the studies on disclosure and usefulness of the information provided.

Accounting Policies of Companies Reporting According to IFRS

The article deals with accounting policies of companies reporting in accordance with International Financial Reporting Standards （IFRS）. Despite of being in accordance with corresponding standards, there are some particular accounting policies that are not being used by companies. The article aims to highlight some of these areas and point out to accounting policies that are prevalent in IFRS＇s accounting practice

The Relevance of International Financial Reporting Standards for Small and Medium-Sized Entities （IFRS for SMEs） in Swaziland

The purpose of this study is to explore the relevance of adopting International Financial Reporting Standards （IFRS） for small and medium-sized entities （SMEs） in Swaziland. The study further seeks to determine if IFRS for SMEs can be the solution to better reporting by local SMEs. There has been a growing need for different reporting standards for small firms and big firms over the years due to the unique challenges and attributes they face especially in the area of financial reporting. This research is based on a statistical analysis of questionnaires completed by accountants from SMEs in Swaziland as well as other stakeholders who have a direct or an indirect interest in the financial statements of SMEs. These stakeholders included audit firms and the financial institutions. The sampling rate of 10% was applied across each industry to come up with a sample of 60 SMEs. Furthermore, a 100% sampling rate on the other stakeholders was applied. These were nine financial institutions and eight audit finns. The findings from the study revealed that SMEs in Swaziland are having challenges with the current reporting framework but to some extent, the framework is suitable. Most SMEs are not aware of IFRS for SMEs, therefore the accounting profession in Swaziland （SIA） has a huge role to play in training auditors and accountants in the country. Overall, IFRS for SMEs is applicable in Swaziland.

Advancing the Interpretation of the Du Pont Equation

The purpose of this paper is to advance the interpretation of the Du Pont Equation, which is commonly used in the financial statements analysis of corporations. The paper makes a special interpretation of the three terms which appear in the Du Pont Equation that provides an understanding of the overall financial standing of the corporation under consideration. As a result of this interpretation, the order in which f＇mancial statements analysis is commonly performed should be reversed. That is, in financial statements analysis, one should start with the analysis of the Du Pont Equation, to gain an overall understanding of the financial situation of the corporation; and then, perform the ratio analysis, to gain a detailed understanding of the financial situation of the corporation. This order of analysis is in contrast to the order in which financial statements analysis is commonly performed, i.e., first, the ratio analysis is performed, and then, the Du Pont Equation is analyzed.

Audit Quality in Practice A Critical Analysis of the Financial Reporting Council （FRC） Discussion Paper

The efforts by the Financial Reporting Council （FRC） in the United Kingdom （UK） to stimulate audit firms to improve audit quality manifest in its Discussion Paper： Promoting Audit Quality warrant further analysis. The discussion paper identified factors such as audit firm culture, the quality of people, the effectiveness of audit process, and outside factors such as management and audit committee （AC） which can affect level of audit quality in practice. Reporting upon the analysis of responses to the discussion paper, the objective of this study is to analyze views from the respondents about various issues related to audit quality. This study composes of how subject of audit quality is seen in practice, which contributes to our understanding of conditions, events, or processes that can affect audit quality in practice.

Predicting Business Insolvency： The Latvian Experience

This paper presents investigations of bankruptcy predicting models which can be useful for external users of a financial statement. Only the methods of financial analysis for insolvency prediction, useful on the basis of financial statements, were investigated. The paper studied the influence of insolvency on the development of the Latvian Economy, including such relevant points： dynamics of number of insolvency cases in Latvia, data of the payment discipline of debts, tax liabilities of the insolvent companies, dynamics of unemployment support payments. Empirical investigations shows that only Altman＇s Z＇＂ and Fulmer＇s H models demonstrate accuracy above 80% in all analyzed business sectors and they are applicable for Latvian companies. The other models are useful to some particular business sector.

The Usefulness of the SMEs＇ Accounting Information

This study investigates the perceived usefulness of selected accounting information presented in the financial statements of small- and medium-sized enterprises （SMEs）. Mailed questionnaires were sent to SMEs＇ owner and loan officers in Malaysia. The findings show that the SMEs＇ owners and loan officers have substantially similar views on the usefulness of the accounting information. In addition, this study has found that the academic qualification and time spent in reading the financial statement have significant relationships with the SMEs＇ owners＇ perceptions on the usefulness of the SMEs＇ accounting information, whereas types of business organization, awareness about financial reporting regulation, and level of understanding of the financial statements do not. On the other hand, for the loan officers, accouting expertise, year in position, and awareness about the financial reporting regulation do not have a significant relationship with the loan officers＇ perceptions on the usefulness of the SMEs＇ accounting information. Meanwhile, experience in assessing SMEs＇ financial statements has a significantly negative relationship with the loan officers＇ perceptions on the usefulness of the SMEs＇ accounting information. The results of this study may enable the SMEs＇ managers to realize the informational needs of the users of their financial statements.

Belgian Emrepreneurs＇ Motivations： Proposition of a Typology

The aim of this paper is to perform a typology of Belgian entrepreneurs based on their motivations and to determine whether they are ＂motivated＂ or ＂forced＂ to create their firms. The authors used the methodology of the principal component analysis followed by an algorithm of classification to categorize groups of entrepreneurs. These groups were characterized by qualitative and quantitative variables. If the quantitative data were extracted from the firms＇ financial report and financial statements, the qualitative data were collected by means of a survey of Belgian entrepreneurs. The empirical study, made from a sample of 94 firms （representative of 10,728 firms）, confirms that the main motivations of Belgian entrepreneurs are positive （the need for autonomy, achievement, power, etc.） and are the same as in the literature. The study identifies five groups of entrepreneurs from the most highly-motivated one （46.81% of the entrepreneurs） to the ones （3.19%） who are forced into the entrepreneurship.

Is the Time Right for a Change in Company Reporting？ Development of Company Reporting from Financial to Non-financial Information

Published financial statements and information on company performance include in the past only financial information and neglected non-financials. Investments decisions nowadays rely not only on pure financial information. The last developments of accounting rules and regulations and the current practice in company reporting put non-financial information and other decision useful non-GAAP measures in focus. A higher number of non-financial information could be found in actual company reports compared to prior years and document a shift in the reporting culture from disclosing only financial performance to an integrated reporting that also reports about performance of the total organisation and the contribution to society. Today, an integrated reporting that combines financials with non-financials and as the standard report of companies is not achieved. One step to an integrated reporting is the EU Accounts Modernisation Directive 2003/51/EC which integrated non-financial key performance indicators （KPIs） in the obligatory reporting for companies. Another step that fosters the development of companies reporting is rooted on the EU Directive 2014/95/EU （CSR directive）. The directive includes rules to make non-financial information obligatory and more harmonized in published company reports. The disclosing of non-financial information, like sustainability and social responsibility, is now obligatory, harmonized and regulated in the EU.

An Appraisal of Segment Reporting Practices of Indian IT Industry

Segment disclosures have become an integral part of overall corporate disclosures aiming at improving the quantum and quality of financial information available in the hands of various stakeholders of firms. The disclosures leave more valuable information in the hands of investors to be used in appraising the performance of firm as a whole and its constituents. In view of changing customer and geographic profile of software industry situated in India, the present paper evaluates the segment reporting practices of listed IT firms which are required to comply with the mandatory Indian Accounting Standard No. 17 on Segment Reporting. The analysis finds a yawning gap between the prescriptions of the standard and actual reporting practices. Firms fail miserably in providing voluntary segment information which could be of shareholders value. With the ushering in of International Financial Reporting Standard ｜IFRS] regime in India in 2011, a qualitative improvement may be seen in the days ahead.

From Consolidation to Segment Reporting in Local Government： Accountability Needs, Accounting Standards, and the Effect on Decision-Makers

Consolidated Financial Statements （CFSs） in the public sector represent useful financial tools to improve transparency and accountability toward internal and external users. This aggregate view is only a part of the information needed in order to give politicians, managers, employees, financial institutions, rating agencies, and citizens a whole view of a local government＇s financial performance. It emerges the need to have segment information, covering specific policy areas for which it is appropriate to separately report financial and non-financial information. This paper, after having discussed the need for accountability and decision-making in a theoretical framework, gives account of a pilot project realized by the municipality of Reggio Emilia, which introduced CFSs and segment reporting. The empirical study is based on an action research as a methodological approach to solving practical problems. Finally, the paper also offers some practical suggestions to contribute to the applicability of the segment reporting in the public sector.

Roadmap to Future Mandatory Application of International Financial Reporting Standards （IFRS） in Japan From the Perspectives of Financial Statement Preparers

This paper seeks to contribute to the discussion on the future mandatory application of Intemational Financial Reporting Standards （IFRS） using data from a questionnaire-based survey administered to financial statement preparers, that is, management in Japan. The important findings of this paper are as follows. The majority of Japanese companies consider that the domestic markets are more important than overseas markets; the most important differences between IFRS and Japanese standards are goodwill, comprehensive income, and the recognition of revenue; it is expected that IFRS would be applied only in consolidated financial statements or in both consolidated and parent companies＇ separate financial statements; and the lack of legislation making it mandatory is the main reason why IFRS has not been adopted by Japanese companies. Overall, this paper found that Japanese management is prudent and passive regarding IFRS adoption, leaving room for further discussions on the future mandatory application of IFRS in Japan.

IAS-IFRS Adoption Impact on Accounting Information： The Case of France

The International Accounting Standards Board （IASB） has established international standards （International Accounting Standards （lASs） and International Financial Reporting Standards （IFRSs）） to ensure more comparability and transparency and also higher-quality financial statements. The creation of such standards by the IASB aims at achieving harmonization of accounting practices among countries. The objective of this research is to show that in accordance with the expectations of international organizations, the adoption of IAS-IFRS increases the information content of financial statements and also to identify the key accounting variables that have been affected by this adoption. This article used a sample of year observations of 150 French firms which have adopted IAS-IFRS since 2005 as data to study the association relationship between accounting variables and stock returns before and after the adoption of IASs. The findings of this paper show that the application of IAS-IFRS as accounting standards increases the information content of accounting numbers. Dividends, long-term debts, equity, and revenue variables are most correlated with stock returns. Their information content has reached 80% after the adoption, while it was 30% before.

Credit Risk （Based on Analysis of Financial Statements） as the Decisive Factor Influencing the Risk of Investors

Banks as the key subjects in the financing of investment have a strong influence on the risk of investors. Hence, the solvency of the bank is of crucial importance for the risk management in the investment process. Given the fact of underdevelopment of financial markets and the lack of trading activities in securities, it is evident that the investments of banks in the developing countries mostly include lending investments. Looking at the key categories of risk that influence the overall risk of the banking business in such conditions, it can be concluded that credit risk presents the dominant and decisive factor. The aim of the paper is to select the bank determinant key factors of credit risk and to determine the extent to which non-performing loans （NPL） of bank credits affect the solvency of banks, and therefore also the risk of investors. This selection of the main determinants will be based on the analysis of financial statements. This is essential, especially taking into account the impact of the global financial crisis and the increasingly frequent falling into insolvency customers. Finally, liquidity of customers is that of the bank, and it is crucial for investors to timely identify possible risks associated with bank loans in order to proactively manage risk investment.

Literature Review on Audit Opinion

To review the literature could always help us to find the limitation of past studies. This paper offers a literature review concerned with audit opinion from foreign studies to Chinese studies. Audit opinion directly reflects whether the financial statement is true and fair or not, which is the reason why audit is necessary and important. These archives could be divided into two parts, whose elements could influence the quality of audit opinion and how audit opinion impacts on companies and market. The stakeholders value audit opinion and they have different demands of audit opinion to meet their demand. For example, tax department needs the information of revenue and profit to collect tax, creditors need to know the exact number of assets to guarantee their loans, and investors prefer to learn the profitability of companies from financial statements. The article provides a holistic view of audit opinion to give other researchers an implication on which part of audit opinion needs to be studied further.