Download or read book Comparability of Financial Statements written by International Accounting Standards Committee and published by . This book was released on 1990 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book GAAP Guidebook written by Steven M Bragg and published by . This book was released on 2020-11-08 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generally Accepted Accounting Principles (GAAP) are used as the basis for financial reporting. The original GAAP documents span thousands of pages, and so are difficult to research. The GAAP Guidebook solves this problem by condensing GAAP into a single volume. This book describes the key elements of each topic, how accounting information is disclosed, and where to look in the FASB Codification source documents for additional information. The text contains hundreds of practical examples that show how to apply GAAP to real-world situations, as well as sample journal entries and usage tips. In short, the GAAP Guidebook serves as a handy reference for accountants who need quick answers to difficult problems.
Download or read book Comparability of Financial Statements written by Price Waterhouse (Firm) and published by . This book was released on 1991 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Analysis and Valuation written by Sue Joy Wright and published by . This book was released on 2014 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Analysis and Valuation has been developed specifically for students undertaking accounting Valuation subjects. With a significant number of case studies exploring various issues in this field, including a running chapter example, it offers a practical and in-depth approach. This second edition of the Palepu text has been revitalised with all new Australian content in parts 1-3, making this edition predominantly local, while still retaining a selection of the much admired and rigorous Harvard case studies in part 4. Retaining the same author team, this new edition presents the field of valuation accounting in the Australian context in a clear, logical and thorough manner.
Download or read book What Constitutes Good Financial Reporting written by Christian Betz and published by GRIN Verlag. This book was released on 2011-09-06 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 1, Stockholm School of Economics (Accounting Faculty), language: English, abstract: Diverging views on the attribute of „comparability. for financial reporting under IFRS Six guest lectures at Stockholm School of Economics passed by and one word left a permanent mark on my mind. With a high regularity and consensus the representatives of different interest groups involved in financial reporting mentioned „comparability., sometimes referred to as „consistency. or „continuity., as one particularly important attribute of good financial reporting. Heurlin (2011, p. 8/12), as an IASB member, stressed the need to acknowledge consistency in financial reporting, which he regards as a proxy for good financial reporting. Scheja (2011), in his auditor role, stated that PwC has a major focus in auditing on ensuring comparability of financial reporting, i.e. by preventing the usage of non-GAAP measures for earnings management. According to him, the attribute of relevance is mainly ensured by preparers. Also, Gerentz (2011) mentioned the term comparability twice; first, stating that NCC aims at preventing managerial opportunism in IR, and second, stressing the need for NCC to create peer comparability by educating analysts about their own “more correct IFRS interpretation”. Last, Malmqvist (2011), representing analysts, pointed out the importance that firms enable peer comparability, i.e. by providing comparable income statements without company-specific non-GAAP measures, where irregularities are explained in footnotes, and by using more comparable accounting methods. So, on this point: All united? As opposed to the otherwise often diverging opinions, all interest groups1 strikingly seem to be aligned that comparability constitutes good financial reporting. But do the involved interest groups really share one joint perception about the attribute „comparability. for financial reporting? In particular, is the IASB.s idea of comparability defined in the framework widely accepted in practice? Considering the different interests of involved groups, one might doubt that those groups really share a common understanding, opinion and rationale with regards to 'comparability'. This paper reflects upon the two questions by taking three explicit perspectives: (1) IASB, (2) preparers, and (3) analysts / investors.
Download or read book Global Comparability of Financial Reporting Under IFRS written by Francesco De Luca and published by Springer Nature. This book was released on 2022-11-14 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: The globalization of financial markets worldwide has progressively pushed toward simultaneous globalization of accounting information. Thus, during the last 50 years, categories of preparers, users, and regulators have devoted their efforts to support the global comparability of financial reporting aiming at favoring the comparison of corporates’ financial performances at a cross-country level. In the same vein, IASB, national standard setters, and jurisdictions have participated in and given momentum to this process. At the same time, academic research has followed this process and tried to build a theoretical framework to address the related issues, to assess the impact on preparers, users, and regulators, while defining hindrances and obstacles to the comparability of financial reporting especially in an IFRS environment. In this context, this book reviews research studies on the comparability of financial reporting at a global level as well as highlights empirical analyses that demonstrate the extent to which global comparability has been achieved, and how it enhances value relevance of earnings across countries. It also looks at the cross-country investors’ perspectives by shaping the empirical analysis to provide further insights on the role of the "Big Four" auditing services in enhancing the comparability of earnings. The book provides an original contribution to the current debate about the comparability of financial reporting under IFRS and will be useful for researchers in the field.
Download or read book Statement of Intent written by and published by . This book was released on 1990 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Preface to International Financial Reporting Standards written by International Accounting Standards Board and published by . This book was released on 2002 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multidimensional Financial Statement Comparability written by Matthew M. Bjornsen and published by . This book was released on 2016 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to develop the first multidimensional measure of financial statement comparability. This measure is based on the disaggregated financial accounting components of earnings, and is constructed by applying a finer-earnings component approach (per Lipe 1986) to a popular financial statement comparability framework (De Franco et al. 2011; Barth et al. 2012). This study solves a previous limitation of the academic literature, while simultaneously recognizing information disaggregation theory and practical application. The multidimensional financial statement comparability measure in this paper is contrasted with the one-dimensional (i.e., based solely on aggregate earnings) financial statement comparability measure used in prior studies. The multidimensional approach allows for the measurement of comparability between two firms across several dimensions and allows for contrast-based analyses across companies. This framework not only more-informatively captures economic effects as they affect one company, but also enhances the ability to contrast that company's accounting system to that of other companies impacted by similar economic effects. Further, using a finer, multidimensional measure of financial statement comparability results in the ability to identify the underlying financial statement line items influencing the comparability of cross-company financial statements. This comparability measure is robust to a rigorous set of analyses, including tests of incremental informativeness, alternative specifications of comparability, and considerations regarding information environment. Overall, relationships among firms' financial statements appear more complex than aggregate-earnings based measures of comparability may suggest. The metric developed in this study will be useful in future research based on its ability to capture and accommodate financial reporting within the comparability framework.
Download or read book Accounting Standards Harmonization and Financial Statement Comparability written by Clare Wang and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates whether accounting standards harmonization enhances the comparability of financial information across countries. I hypothesize that a firm yet to announce earnings reacts more strongly to the earnings announcement of a foreign firm when both report under the same rather than different accounting standards. My analysis of abnormal price reactions for a global sample of firms supports the prediction. Next, in an attempt to control for the underlying economic comparability and the effects of changes in reporting quality, I use a difference-in-differences design around the mandatory introduction of International Financial Reporting Standards. I find that mandatory adopters experience a significant increase in market reactions to the release of earnings by voluntary adopters compared to the period preceding mandatory adoption. This increase is not observed for nonadopters. Taken together, the results show that accounting standards harmonization facilitates transnational information transfer and suggest financial statement comparability as a direct mechanism.
Download or read book Comparability of financial statements written by Comite international de normalisation de la comptabilite and published by . This book was released on 1989 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Statements of a Company English written by Navneet Singh and published by Navneet Singh. This book was released on with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Statements Financial statements are formal records that provide an overview of the financial activities and position of a business, organization, or individual. They are prepared periodically, usually on a quarterly and annual basis, and are essential for stakeholders to assess the financial performance and health of the entity. The main types of financial statements include: Income Statement (Profit and Loss Statement): The income statement provides a summary of a company's revenues, expenses, gains, and losses over a specific period, typically a fiscal quarter or year. It shows whether the company has generated a profit or incurred a loss during the period by subtracting expenses from revenues. Balance Sheet (Statement of Financial Position): The balance sheet presents the financial position of a company at a specific point in time, usually the end of a fiscal quarter or year. It consists of three main sections: assets, liabilities, and equity. Assets represent what the company owns, liabilities represent what it owes, and equity represents the shareholders' ownership interest in the company's assets. Cash Flow Statement: The cash flow statement provides an overview of a company's cash inflows and outflows during a specific period, typically a fiscal quarter or year. It categorizes cash flows into three main sections: operating activities, investing activities, and financing activities. The cash flow statement helps stakeholders understand how a company generates and uses cash to support its operations, investments, and financing activities. Statement of Changes in Equity (Statement of Retained Earnings): This statement shows changes in the equity of a company over a specific period. It typically includes adjustments for net income or loss, dividends paid to shareholders, and changes in accounting policies or corrections of errors. The statement of changes in equity helps stakeholders understand how the company's equity has evolved over time. These financial statements are prepared in accordance with generally accepted accounting principles (GAAP) or international financial reporting standards (IFRS) to ensure consistency, comparability, and transparency in financial reporting. They are used by various stakeholders, including investors, creditors, regulators, and management, to assess the financial performance, profitability, liquidity, and solvency of the entity. Additionally, financial statements are subject to external audit by independent auditors to provide assurance on their accuracy and compliance with relevant accounting standards and regulations.
Download or read book IFRS in a Global World written by Didier Bensadon and published by Springer. This book was released on 2016-05-13 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, dedicated to Prof. Jacques Richard, is about the economic, political, social and even environmental consequences of setting accounting standards, with emphasis on those that are alleged to be precipitated by the adoption and implementation of IFRS. The authors offer their reasoned critiques of the effectiveness of IFRS in promoting genuine global comparability of financial reporting. The editors of this collection have invited authors from 17 countries, so that a great variety of accounting, auditing and regulatory cultures, and educational perspectives, is amply on display in their essays.
Download or read book Comparability of Financial Statements written by and published by . This book was released on 1989 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Analysis of the Implications of the IASC s Comparability Project written by Helen Morsicato Gernon and published by . This book was released on 1990 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Achieving Global Convergence of Financial Reporting Standards written by Christopher Patel and published by Emerald Group Publishing. This book was released on 2011-12-15 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.
Download or read book International Financial Reporting Standards English written by Navneet Singh and published by Navneet Singh. This book was released on with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Financial Reporting Standards (IFRS) are a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB). They are designed to provide a common global language for financial reporting, ensuring that financial statements are comparable, transparent, and reliable across different jurisdictions and industries. Here's an overview of IFRS: Objective: The primary objective of IFRS is to provide a framework for the preparation and presentation of financial statements that provide useful information to users for making economic decisions. IFRS aims to enhance transparency, comparability, and reliability in financial reporting. Applicability: IFRS is used by many countries around the world as the basis for preparing financial statements of public companies. While some countries have adopted IFRS as their national accounting standards, others have converged their local standards with IFRS or permit the use of IFRS for listed companies. Additionally, multinational companies often use IFRS for their consolidated financial statements to ensure consistency across different jurisdictions. Principles-based Approach: IFRS adopts a principles-based approach to accounting standards, focusing on principles rather than detailed rules. This allows for flexibility in application and enables entities to provide relevant and reliable information that reflects the economic substance of transactions. Standard-setting Process: The IASB, an independent standard-setting body, is responsible for developing and issuing IFRS. The standard-setting process involves extensive consultation with stakeholders, including preparers, auditors, investors, regulators, and standard-setting bodies from different countries. The IASB also works closely with national standard-setters and accounting bodies to promote global convergence in financial reporting. Structure of IFRS: IFRS consists of a series of individual standards and interpretations, each addressing specific aspects of financial reporting. The main standards cover topics such as presentation of financial statements (IAS 1), revenue recognition (IFRS 15), leasing (IFRS 16), financial instruments (IFRS 9), and consolidation (IFRS 10). Additionally, there are interpretations (IFRIC) and framework documents that provide guidance on complex accounting issues. Continuous Development: IFRS is subject to continuous review and improvement to ensure its relevance and effectiveness in addressing emerging issues in financial reporting. The IASB regularly updates and issues new standards or amendments to existing standards in response to changes in business practices, economic environments, and regulatory requirements. Benefits of IFRS: The adoption of IFRS brings several benefits, including improved comparability of financial statements across jurisdictions, enhanced transparency and disclosure, increased investor confidence, and reduced costs for multinational companies operating in multiple jurisdictions. Overall, IFRS plays a crucial role in promoting high-quality financial reporting, facilitating global capital flows, and fostering economic growth and development by providing a common set of accounting standards that are recognized and accepted worldwide.
