Download or read book The Transition from IFRS to Swiss GAAP and Its Impact on Goodwill Equity written by Reto Patuto and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book COMPANY VALUATION UNDER IFRS 3RD EDITION written by Nick Antill and published by Harriman House Limited. This book was released on 2020-02-11 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revised and updated. The influence of International Financial Reporting Standards (IFRS) on accounting across the world is stronger than ever. Most importantly, this stems from the mandatory adoption of IFRSs in many parts of the world, including Europe, Canada, Australia, Brazil and, with some relatively small exceptions, China. Additionally, foreign registrants in the US are also permitted to use IFRS by the SEC. The impact of IFRSs also extends to accounting developments as the IASB and the FASB work closely together to formulate new standards such as those recently issued on leasing and revenue recognition. It is clear that investors, analysts and valuers need to understand financial statements produced under IFRS to feed in to their valuations and broader investment decisions. Written by practitioners for practitioners, the book addresses valuation from the viewpoint of the analyst, the investor and the corporate acquirer. It starts with valuation theory: what is to be discounted and at what discount rate? It explains the connection between standard methodologies based on free cash flow and on return on capital. And it emphasizes that, whichever method is used, accurate interpretation of accounting information is critical to the production of sensible valuations. The authors argue that forecasts of cash flows imply views on profits and balance sheets, and that non-cash items contain useful information about future cash flows - so profits matter. The book addresses the implications for analysis, modelling and valuation of key aspects of IFRS, all updated for recent developments, including: - Pensions - Stock options - Derivatives - Provisions - Leases - Revenue recognition - Foreign currency The text also sets out the key differences between IFRS and US GAAP treatments of these issues, in addition to their implications for analysis. A detailed case study is used to provide a step-by-step valuation of an industrial company using both free cash flow and economic profit methodologies. The authors then address a range of common valuation problems, including cyclical or immature companies, as well as the specialist accounting and modelling knowledge required for regulated utilities, resource extraction companies, banks, insurance companies, real estate companies and technology companies. Accounting for mergers and disposals is first explained and then illustrated with a detailed potential acquisition.
Download or read book Earnings Management and Value Relevance During the Mandatory Transition from Local GAAPs to IFRS in Europe written by Vedran Capkun and published by . This book was released on 2017 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a sample of 1,722 European firms during their mandatory transition from local country accounting rules (Local GAAP) to International Financial Reporting Standards (IFRS) in 2004 and 2005 using the same set of firm-year observations. We use this unique transition period to examine the impact of a change in accounting standards on the quality of firms' financial statements. The transition to IFRS appears to have a small but significant impact on firms' reported total assets and book equity, as well as on their reported goodwill, intangible assets, property plant and equipment, long term debt and current assets and liabilities. For the same reporting period, Return on Assets (ROA) is significantly higher under IFRS than under Local GAAP with the greater increase occurring in those firms with lower levels of ROA under Local GAAP. This transition earnings management is present in all countries, but its level is highest in those countries with weaker legal institutions and higher levels of pre-transition earnings management. These results are consistent with managers using the transition to improve their reported earnings and ROA. IFRS earnings reconciliation disclosures are value relevant even with the noted transition earnings management. The value relevance of the book value of equity is limited to the Local GAAP reports. Both, partial and full IFRS earnings reconciliations are associated with market value and returns.
Download or read book The Voluntary Turn Away from IFRS to Swiss GAAP FER written by Manuel Hürzeler and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of the study at hand is to examine the implications of a voluntary turn away from IFRS to Swiss GAAP FER on the risk of manipulation. In this context, manipulation is understood as a comprehensive concept that encompasses both earnings management and financial statement fraud and is measured by applying Beneish's M-score and Dechow's F-score. In the theoretical part of the thesis it was shown that the choice of the accounting standard, in particular the degree of accounting flexibility, has a significant impact on the risk of manipulation and the overall quality of accounting. At the same time it was noted that Swiss GAAP FER offers more accounting flexibility than IFRS. Based on these findings, it was expected that a change from IFRS to Swiss GAAP FER would be accompanied by an increase in the risk of manipulation, and thus lower accounting quality. From a holistic point of view, this does not seem to be the case as the empirical analysis has revealed little evidence of an increase in the risk of manipulation in the Swiss GAAP FER period. On this basis, it was found that the risk of manipulation and thus the overall quality of the financial reporting does not seem to be adversely affected by a change from IFRS to Swiss GAAP FER. Overall, the results of the study at hand suggest that the choice of the accounting standard only plays a subordinate role with regard to risk of manipulation and accounting quality.
Download or read book Determinants and Consequences of a Voluntary Turn Away from IFRS to Local GAAP written by Peter Fiechter and published by . This book was released on 2017 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine determinants and consequences of a turn away from IFRS to local GAAP, thereby exploiting a unique feature of the Swiss setting in which listed firms are allowed to switch from IFRS to Swiss GAAP, all else being equal. We posit that net benefits of IFRS are less for small firms with higher insider ownership. In addition, we predict that the net benefits of IFRS are not constant over time because of changes in IFRS and/or changes in firm-specific circumstances. To the extent that the switching firms' costs of IFRS reporting outweigh its benefits, we do not predict adverse capital-market effects after a switch. Consistent with predictions, we find that (a) small firms with higher insider ownership and fewer foreign investor holdings are more likely to switch, (b) increasing reporting costs as well as changes in firm-specific circumstances affect switching propensity, (c) switching firms substantially reduce their disclosures after they switch, and (d) switching firms neither experience a decrease in liquidity nor negative announcement returns. Overall, our findings are important for standard setters and securities regulators in shaping (future) reporting requirements for listed firms.
Download or read book IFRS 4 Insurance Contracts written by International Accounting Standards Board and published by . This book was released on 2004 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Earnings Quality written by Jennifer Francis and published by Now Publishers Inc. This book was released on 2008 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Download or read book Insights into IFRS KPMG s practical guide to International Financial Reporting Standards 1 written by and published by . This book was released on 2013 with total page 1468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Firm Growth and Innovation written by Rico J. Baldegger and published by W. by Editions Weblaw. This book was released on 2018-03-07 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major issue of dynamic growth management is the coordination of current requirements of the company with demands that have to be met in the future. Prof. PhD Rico J. Baldegger is Director and Professor of Strategy, Innovation and Entrepreneurship at the School of Management Fribourg (HEG-FR), Switzerland. He has studied at the Universities of St. Gallen and Fribourg, Switzerland. His research activities concentrate on innovative start-ups, the entrepreneurial behavior of individuals and organizations, as well as the phenomenon of rapid-growth companies. He has published several books and articles and, since the beginning of the 1990s, he has been the manager of a business for company development. Moreover, he is a serial entrepreneur, as is demonstrated by the many companies he has created.
Download or read book Globalisation of Accounting Standards written by Jayne Maree Godfrey and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Jayne Godfrey and Keryn Chalmers explore the intricacies of the globalisation of accounting standards - arguably one of the most significant business developments of the wider globalisation process during the past two decades. They examine the key issues and implications of this harmonization of accounting standards from the perspectives of a diverse range of worldwide stakeholders. "Globalisation of Accounting Standards" shows that globalisation approaches differ significantly because countries seek to maintain varying degrees of sovereignty over their regulations. International differences in economic, political, legal, religious and social characteristics also affect globalisation approaches and, in turn, influence national accounting standard-setting agendas. The book explores why countries relinquish their existing national accounting standard-setting regimes to join the global movement. It also seeks to resolve questions such as: To what extent are national incentives altruistic, economic, political or social? Who are the winners and losers in the process? This authoritative book is thoroughly researched and expertly informed. Written by both academics and regulators, it tackles a critical and controversial issue in the globalisation movement. As such, it will be of great interest to a wide-ranging audience including: international, national, private and public sector standard-setters, economic regulators, accounting academics and political economists and strategists.
Download or read book Wiley International Trends in Financial Reporting under IFRS written by Abbas A. Mirza and published by John Wiley & Sons. This book was released on 2012-10-05 with total page 1001 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.
Download or read book European Financial Reporting written by J. Flower and published by Springer. This book was released on 2016-01-23 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: European Financial Reporting analyses the revolution that is currently taking place in the financial reporting of the major European companies, following the European Union's decision that from they must present their accounts according to the IASB's standards. The book covers both the theory of financial reporting and its practice at both national and international level. It covers the very latest developments in the EU and the IASB with a detailed analysis of the impact of the Enron scandal.
Download or read book IFRS Essentials written by Dieter Christian and published by John Wiley & Sons. This book was released on 2013-03-27 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gain a deeper understanding of financial reporting under IFRS through clear explanations and extensive practical examples. IFRS can be a complex topic, and books on the subject often tackle its intricacies through dense explanation across thousands of pages. Others seek to provide an overview of IFRS and these, while useful for the general reader, lack the depth required by practitioners and students. IFRS Essentials strikes a balance between the two extremes, offering concise interpretation of the crucial facts supported by a wealth of examples. Problems and their solutions are demonstrated in a manner which is short, straightforward and simple to understand, avoiding complex language; jargon and redundant detail. This book is suitable for students and lecturers at universities and other educational institutions, auditing and accounting trainees, and employees in the area of accounting and auditing who seek to develop their practical skills and deepen their knowledge of IFRS.
Download or read book Interim Financial Reporting written by International Accounting Standards Committee and published by . This book was released on 1997 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Accounting written by David Austen and published by Nelson Thornes. This book was released on 2008-05-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set of resources has been developed with, and endorsed by, AQA, supporting the new AQA specification for AS and A2. With a range of resources, it offers complete coverage and support through a variety of printed and electronic media.
Download or read book IFRS Manual of Accounting 2009 written by and published by . This book was released on 2008 with total page 3352 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International Financial Reporting Standards (IFRSs) are being increasingly used by companies throughout the world. All entities listed in the EU have been required to issue financial statements under IFRS since 2005, and more and more other countries are making the change to IFRS including the US and Canada. ... The Manual is packed full of clear, practical guidance on how to prepare financial statements in accordance with IFRS. It includes hundreds of practical worked examples and extracts from company reports as well as model IFRS financial statements that help to illustrate the explanations and show exactly how even the most complex calculations and disclosures should be made."--Cover.
Download or read book Financial Accounting and Reporting written by Barry Elliott and published by Financial Times/Prentice Hall. This book was released on 2011 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Accounting and Reporting is the most up to date text on the market. Now fully updated in its fourteenth edition, it includes extensive coverage of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). This market-leading text offers students a clear, well-structured and comprehensive treatment of the subject. Supported by illustrations and exercises, the book provides a strong balance of theoretical and conceptual coverage. Students using this book will gain the knowledge and skills to help them apply current standards, and critically appraise the underlying concepts and financial reporting methods.
