Download or read book Assessing a Firm s Performance Under IFRS written by Maria Dimitriou and published by . This book was released on 2020 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conversion of accounting standards from Greek Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS) raises the issue of the firm's reported performance. As far as the reported performance is concerned, the statement of cash flows is an additional regulation for Greek GAAP in accordance with IFRS. Therefore, in this paper, we put special emphasis on standards IFRS 7, the statement of cash flows, and the usefulness of this standard in assessing a firm's reported performance. In this paper, we present the process of assessing a firm's statement of cash flows or to adjust its ability to generate and grow earnings and cash flow. Prior to undertaking any analysis appropriate to the above purpose, we introduce the concepts of the adoption of IFRS in Greece, and then we explore the context of IFRS 7 as the aim, use, and construction of the cash flow statement (classification and presentation) but also the accounting handling of it. It may additionally be necessary to use tools and techniques which facilitate the assessment of the firm's financial and operational data. Concerning that, we adjust the phase of a firm's life cycle but also the amounts associated with the statement of cash flows by creating common size analysis from it and calculating the free cash flow as well as the ratios suggested by IFRS7. However, in order to achieve the paper's purpose, we present the case of Coca Cola Hellenic Bottling Company, including real reported corporate data, for educational purposes only. For well-supported conclusions, the application of a firm's assessment is enhanced by using five years of data. At every stage of assessment, the paper reports the results of the analysis and highlights the most important aspects of the analysis. Finally, in summary, adjusting a firm's statement of cash flows gives a complete picture of the firm's financial condition. It shows the quality of earnings, liquidity, and flexibility. It is apparent that IFRS 7 improves the relevance, and thereby, the quality, or at least some reported numbers.
Download or read book Readability of Financial Reports and IFRS Adoption in Australia written by Esther Wai Yin Cheung and published by . This book was released on 2014 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis examines the impact of the adoption of International Financial Reporting Standards (IFRS) on the readability of financial disclosures, firm performance and analysts' forecasts in Australia. The thesis comprises three papers. The first paper (Chapter 2) provides an historical review of quality in relation to financial reporting in Australia by investigating how the qualitative characteristics of relevance, reliability, comparability and understandability developed in Australia between 1961 and 2004. The notion of the 'quality of financial reporting' has been debated extensively by accounting standard setters and regulators both nationally and internationally. However, there is no unanimous agreement as to the meaning of the word 'quality' or the qualitative characteristics that contribute to notions of 'quality of financial reporting'. The objective of this paper is to investigate the meaning of quality in relation to financial reporting in different time periods over the past 40 years; how different characteristics were identified and developed; and how particular characteristics emerged, dominated and were then superseded or disappeared due to corporate collapses, changing economic conditions and globalisation. The second paper (Chapter 3) examines the association between readability, firm performance and IFRS in Australia by assessing the impact of the adoption of IFRS on the readability of Notes to the financial statements in the Australian context, and the interaction effect between IFRS and firm performance on readability. This paper uses the complexity of financial reports (Gunning Fog Index) and the number of words (Length) as proxies to measure the readability of financial reports. Results show that financial reports are significantly lengthier, yet are more readable in the post-IFRS period. Further, additional analyses identify that the length of disclosures in Summary of Significant Accounting Policies, Financial Instruments and Intangible Assets are significantly longer after the adoption of IFRS. However, there is no evidence to support any management obfuscation hypothesis in Australia as evidenced in prior United States (US) studies. Results do not demonstrate any differences in the readability of financial reports for poorly performing as opposed to better-performing firms in either pre- or post-IFRS periods, suggesting that managers continue to report both positive and negative information to investors. The third paper (Chapter 4) examines the association between the readability of financial disclosures, analysts' forecasts and IFRS adoption in Australia by assessing whether the readability of Notes to the financial statements mediates the relationship between IFRS adoption and analysts' forecast accuracy. Results indicate that the readability of firms' disclosures mediates the relationship between IFRS adoption and the accuracy of analysts' forecasts. That is, the paper partially explains that more readable financial disclosures after the implementation of IFRS lead to greater accuracy of analysts' forecasts. As a whole, this thesis first explores the concept of the quality of financial reporting, where notions of quality can be traced under different names and elements. The thesis identifies that quality is captured by the four qualitative characteristics, relevance, reliability, comparability and understandability, where each qualitative characteristics represents an aspect of quality. The thesis then selects one of these aspects, understandability, and further narrows down to readability, in order to investigate the impact of IFRS on the readability of financial disclosures from: (1) the preparers' perspective because management prepares financial disclosures in the form of Notes to the financial statements and they may implicitly make assumptions about the appropriate level of readability of financial disclosures; and (2) the users' perspective because users read and attempt to understand the content of financial disclosures. In order to examine the preparers' perspective, this thesis explores the relation between the readability of financial disclosures before and after IFRS adoption, and firm performance. To examine the users' perspective, this thesis investigates the relation between readability, IFRS adoption and analysts' forecasts.
Download or read book Evaluating Corporate Financial Performance written by Jacek Welc and published by Springer Nature. This book was released on 2022-05-25 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook offers a step-by-step guide through comprehensive financial statement analysis with real-life case studies for students of financial accounting, financial reporting, and financial statement analysis. Structured into five comprehensive sections, it begins by explaining the content of accounting reports themselves and the three primary financial statements (income statement, balance sheet and cash flow statement). It deciphers the notes to financial statements and demonstrates some classical tools such as ratio analysis and multivariable credit risk models that are useful in a retrospective financial statement analysis. It includes simple step-by-step procedures of a prospective (i.e. future-oriented) financial statement simulation and closes with a comprehensive real-life case study that demonstrates a practical application of the analytical tools discussed earlier in the text. Additionally, the textbook includes online appendices consisting of additional comprehensive real-life case studies (of varying degrees of complexity and dealing with different aspects of a practical financial statement analysis), a set of MS Excel files that contain all major calculations included in tables and charts that appear in the core textbook, and a set of webinars in which the most fundamental parts of the core textbook are discussed in the form of the recorded lectures.
Download or read book Financial Reporting under IFRS written by Wolfgang Dick and published by John Wiley & Sons. This book was released on 2011-02-25 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Financial Reporting Standards are quite different from other sets of accounting standards, and are fundamentally different from US-GAAP, in that they are based on principles, and not on detailed rules. Financial Reporting under IFRS:A topic-based approach offers a global perspective on IFRS by presenting the prescribed rationale and principles and illustrating them through numerous examples from large international companies. It aims to develop the fundamental skills necessary to read and use the information contained in all types of financial statements, through examples, activities, questions and answers. The book is broadly divided into three sections. Section one examines the structure of the Balance Sheet and the Income Statement, their links and the accounting mechanisms used to prepare them. Section two deals with the identification, evaluation and reporting of Balance Sheet items. Section three covers the use of financial statements to analyze a firm’s performance and its risks. Throughout the book special topics are covered, including Derivatives and Hedge accounting (IAS 39), Business Combination (IFRS 3) and Operating Segments (IFRS 8). Financial Reporting under IFRS is ideally suited to the needs of students of accounting and financial reporting, but all users of financial statements, from creditors and investors to suppliers, customers, employees and governments will benefit from its concise, topic-based approach.
Download or read book The Impact of Fair Value Accounting on Firms Performance and Pension Assets written by Shaofeng Zheng and published by . This book was released on 2017 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation comprises of two essays: 1) The Effects of Fair Value Measurements (IFRS 13) on Operating Performance and Market Performance, and on Value Relevance of Firms across European Countries; 2) The Disclosure of Fair Value Pension Asset under SFAS No. 158, Pension Assumptions, and Earnings Manipulation. Fair value accounting has been gained a spotlight over years. My first essay focuses on Fair Value measurements (IFRS13), which provides a single source for all fair value measurements, and clarifies the definition of fair value and enhance the disclosures. I examine the effect of IFRS 13 fair value on operating performance, the market reaction to the key event of the announcement date of IFRS 13 adoption, and the effect on value relevance in the context of IFRS 13 adoption by a large sample of five countries in European Union: France, Germany, Italy, Spain, and United Kingdom from 2010 to 2014. Evidences from the analyses of the models revealed that the operating performance overally decreased after IFRS 13 adoption in France and Germany but increased in Italy, Spain and United Kingdom based on some ratios to evaluate the operating performance. Firms with higher ROA in pre-IFRS 13 might report more consecutive earnings after IFRS 13 adoption than firms with lower ROA in pre-IFRS 13. Market reaction was tested on the key event of IFRS 13 adoption: the announcement date of IFRS 13. The results of the event study indicate that the cumulative abnormal returns (CAR) are negatively associated with the release date of IFRS 13 adoption, suggesting that European markets' reaction has been somewhat negative to IFRS 13. The adjustment to earnings per share model suggests mixed evidence of a increase in value relevance. In summary, European market may perceive IFRS 13 as an important in financial reporting or a reduction in the formation asymmetry and these results have implications for investors, auditors, and educators. In September 2006, Statement of Financial Accounting Standard (SFAS) No. 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans, required firms to disclose and recognize the full funded status of defined benefit pension plans in the balance sheet instead of only in the footnote. Comparing with recognition, there are limited researches about the effect of the disclosure of fair value pension assets on the expected rate of return (ERR). Therefore, my second essay examines the association between the disclosure of fair value pension plan assets under SFAS No. 158 and ERR. Empirical results support that firms with the Level-3 fair value of pension assets are more like to inflate ERR and are more like to meet ERR through the actual rate of return (ARR) of the Level-3 fair value of pension assets. In addition, I explore the relationship between the disclosure of fair value pension plan assets and earnings target through ERR management. The results document that firms with the Level-3 fair value pension asset more like to achieve earnings target when they marginally fall short of earnings expectations. Such disclosures could improve the efficient use of the information by market participants.
Download or read book An Innovative Performance Measurement System Sustainability written by Habib Zaman Khan and published by Springer Nature. This book was released on with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Analysis and Valuation Using Financial Statements written by Krishna G. Palepu and published by Cengage AU. This book was released on 2020-09-24 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The only local text in the market, Business Analysis and Valuation provides a framework for understanding and using financial statements for business students and practitioners. Developed specifically for students undertaking accounting valuation subjects, the text is unique in its approach which introduces and develops a framework for business analysis and valuation using financial statement data, then shows how to apply this framework to a variety of decision contexts. All chapters of this edition have been updated to include the latest regulations, practices and examples from both the financial markets and research. Industry insights from practitioners and other experts have been added to each chapter, giving students a practical, real-life understanding of how the content they are learning translates to the workplace. With an increased number of real-business Asia-Pacific case studies exploring various issues, including a running chapter example, and references to recent research in this field, the text offers local context and a practical and in-depth approach.
Download or read book Law Corporate Governance and Accounting written by Victoria Krivogorsky and published by Routledge. This book was released on 2011-04-26 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growing internationalization of markets, the relaxation of constraints on capital flows between countries, and the creation of different economic unions -- the European Union in particular -- initiated the flow of capital, goods, and services across national borders, growth and diffusion of shareholding, and increased merger activity among the world’s largest stock exchanges. These changes have stimulated an interest in understanding developments in accounting and corporate governance in a newly qualitative way. Law, Corporate Governance, and Accounting sets out a framework for the analysis of institutional environments as the interconnected key tools of modern public corporations. Along with examining latest developments in the integrated formal structures for the formulation of international accounting principles, analyzing new accounting regulations and the extrapolating on the lessons that can be learned from the harmonization of accounting principles in Europe, this monograph provides the analyses of the convergence in both auditing and corporate governance as well as US perspective on IFRS adoption.
Download or read book Encyclopedia of International Accounting written by Parmod Chand and published by Edward Elgar Publishing. This book was released on 2024-06-05 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Encyclopedia presents a comprehensive overview of international accounting. Top scholars in the field highlight key issues such as accounting standards, sustainability reporting, ethical standards, corporate governance, theories of regulation, and international institutions.
Download or read book Strategic Management written by Peter FitzRoy and published by Routledge. This book was released on 2012-03-22 with total page 693 pages. Available in PDF, EPUB and Kindle. Book excerpt: Students trying to navigate the strategy jungle may lose sight of the fact that strategic management is about creating value in an organization. Understanding strategic management is a core part of all business qualifications and this textbook brings a new and easy-to-follow understanding of this vital business function. In addition to walking the student through the basics of the subject, the authors provide an array of analytical tools to help facilitate a thorough understanding of strategic management. The book addresses thoroughly the impact of financial markets on a firm’s strategic capabilities, as well as looking at other challenging environmental factors. Aided by an array of student-friendly features, such as: learning objectives, 'strategic management in practice' case studies and review questions in each chapter, Strategic Management will help students to excel in their strategic management classes and better prepare them for the real business world. A comprehensive companion website, containing a wealth of supplementary materials for students and lecturers alike, is available at: http://www.routledge.com/cw/fitzroy.
Download or read book Operations and Service Management Concepts Methodologies Tools and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2017-11-30 with total page 1812 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizations of all types are consistently working on new initiatives, product lines, and workflows as a way to remain competitive in the modern business environment. No matter the type of project at hand, employing the best methods for effective execution and timely completion of the task is essential to business success. Operations and Service Management: Concepts, Methodologies, Tools, and Applications is a comprehensive reference source for the latest research on business operations and production processes. It examines the need for a customer focus and highlights a range of pertinent topics such as financial performance measures, human resource development, and business analytics, this multi-volume book is ideally designed for managers, professionals, students, researchers, and academics interested in operations and service management.
Download or read book Intermediate Accounting IFRS International Adaptation written by DONALD E.. WEYGANDT KIESO (JERRY J.. WARFIELD, TERRY D.) and published by John Wiley & Sons. This book was released on 2024-10-06 with total page 1443 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Applying IFRS Standards written by Ruth Picker and published by John Wiley & Sons. This book was released on 2019-06-24 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the main concepts of IFRS Standards The fourth edition of Applying IFRS Standards explains the core principles of International Financial Reporting (IFRS) Standards. It also addresses the skills needed to apply the standards in business environments. The book begins with an overview of the International Accounting Standards Board (IASB) and how it establishes accounting standards. The general book topics are then covered in detail and include: income taxes, financial instruments, fair value measurement, property, inventories, employee benefits and more. Discussion questions, exercises and references are provided throughout the book.
Download or read book Handbook of Research on Strategic Business Infrastructure Development and Contemporary Issues in Finance written by Ray, Nilanjan and published by IGI Global. This book was released on 2014-02-28 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamic economic climate invites participants who are grounded in strategic financial management and infrastructure development. Thus, a lack of sufficient infrastructure, in both quality and quantity, often disqualifies developing countries from being key players in the global economy and influences other socioeconomic problems like unemployment, quality of work life, and quality of life. Handbook of Research on Strategic Business Infrastructure Development and Contemporary Issues in Finance discusses the efficiency of good infrastructure and its impact on socioeconomic growth and socioeconomic development in general and addresses contemporary aspects of the strategic financial management essential for accomplishing the objective of wealth maximization in today's challenging and competitive economy. This book is an essential research work for policy makers, government workers and NGO employees, as well as academicians and researchers in the fields of business, finance, marketing, management, accounting, MIS, public administration, economics, and law.
Download or read book The Evolution of Corporate Disclosure written by Alessandro Ghio and published by Springer Nature. This book was released on 2020-04-02 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the evolution of corporate disclosure. Building upon prior academic literature, it assesses the most important changes in mandatory corporate disclosure, the growing relevance of social and environmental disclosure, and revolutionary new forms of corporate communication, in particular social media. It also includes empirical analyses that shed further light on the impact of voluntary communication, i.e. social and environmental reporting and corporate social media communication, on managerial and investment decisions. Lastly, it discusses new directions for accounting and corporate governance research on the theoretical and empirical challenges of corporate disclosure. Offering a wealth of relevant and timely advice, the book will help regulators design policies that allow businesses to overcome current and emerging economic, social, and technological challenges.
Download or read book Corporate Financial Reporting and Performance written by Önder Kaymaz and published by Palgrave Pivot. This book was released on 2015-11-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization and the accompanying investment facilities available have resulted in rapid popularity for international financial reporting standards (IFRS). However, differences often exist in terms of what firms report, and once inconsistency between tax regulations and financial reporting regulations occur, differences between taxable and accounting practices are inevitable. This book introduces a new approach to corporate financial reporting by investigating goal incongruence (GING) in the context of the principal and agent (PA) setting. The authors argue that improving the method for the disclosure of information would not only increase the quality of corporate financial information and reporting but also reduce the possibility of any GING arising. This book presents the financial implications of international accounting and financial reporting standards (IAS and IFRS), presenting numerous real-life situations, cases, examples and implications to reveal how GING might influence the implementation of corporate financial reporting of profit volumes and sizes, which are the leading drivers of and widely accepted proxies for corporate financial performance.
Download or read book Financial Reporting 3rd Edition written by Janice Loftus and published by John Wiley & Sons. This book was released on 2020-02-25 with total page 1358 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third edition of Loftus’ Financial Reporting has been updated for recent developments in the Australian Accounting Standards, including the release of the new Conceptual Framework. This text is designed to be used across the 2nd and 3rd year financial accounting units. A hallmark feature of the text is that it provides both a conceptual understanding and a practical application of the accounting standards. For students, an understanding of the conceptual basis of accounting and the rationale behind the principles is crucial to the consistent application of standards in a variety of practical contexts. The Financial Reporting interactive e-text features a range of instructional media content designed to provide students with an engaging learning experience. This includes practitioner videos (from Ernst & Young), interactive worked problems and questions with immediate feedback. Loftus’ unique resource can also form the basis of a blended learning solution for lecturers.