Setting UK standards on the concept of control: an analysis of lobbying behaviour

The present study aims to contribute to an understanding of the complexity of lobbying activities within the accounting standard-setting process in the UK. The paper reports detailed content analysis of submission letters to four related exposure drafts. These preceded two accounting standards that set out the concept of control used to determine the scope of consolidation in the UK, except for reporting under international standards. Regulation on the concept of control provides rich patterns of lobbying behaviour due to its controversial nature and its significance to financial reporting. Our examination is conducted by dividing lobbyists into two categories, corporate and non-corporate, which are hypothesised (and demonstrated) to lobby differently. In order to test the significance of these differences we apply ANOVA techniques and univariate regression analysis. Corporate respondents are found to devote more attention to issues of specific applicability of the concept of control, whereas non-corporate respondents tend to devote more attention to issues of general applicability of this concept. A strong association between the issues raised by corporate respondents and their line of business is revealed. Both categories of lobbyists are found to advance conceptually-based arguments more often than economic consequences-based or combined arguments. However, when economic consequences-based arguments are used, they come exclusively from the corporate category of respondents.

Does Mandatory IFRS Adoption in the EU Level the International Playing Field Between Foreign and Domestic Analysts? ACES Working Papers, October 2011

International Financial Reporting Standards (IFRS) have been promoted as a global set of financial reporting standards that will help integrate global capital markets. We examine whether the mandatory European-wide adoption of IFRS in 2005 improved the forecast accuracy for foreign analysts relative to that of domestic analysts. We find that, on average, foreign analysts experience no incremental improvement in forecast accuracy relative to domestic analysts. However, we find that those foreign analysts who are familiar with IFRS do experience an incremental improvement in forecast accuracy relative to domestic analysts. We also find that this incremental improvement in forecast accuracy relative to domestic analysts is concentrated among firms domiciled in countries with both strong enforcement regimes and domestic accounting standards that differ significantly from IFRS. Our results highlight that both familiarity with IFRS and the quality of countries' enforcement environments play key roles in determining the extent to which IFRS adoption can reduce information asymmetry between foreign and domestic analysts.

A framework of best practice of continuing professional development for the accounting profession

The International Accounting Education Standards Board (IAESB) places a strong emphasis on individual professionals taking responsibility for their Continuing Professional Development (CPD). On the other hand, the roles performed by professional accountants have evolved out of practical necessity to 'best' suit the diverse needs of business in a global economy. This diversity has meant that professional accountants are seen in highly specialised roles requiring diverse skill sets. In order to enhance the contribution of the accountant as a knowledge professional for business, it follows that CPD that leverages off an individual's experience should be designed to meet the needs of professionals across the different specialised roles within the profession. In doing so the project identifies how CPD should differ across roles and levels of organisational responsibility for accounting professionals. The study also makes a number of policy recommendations to IAESB and IFAC. © 2013 © 2013 Taylor & Francis.

Emissziós jogok közgazdasági relevanciája és számviteli leképezése (Economic relevancy and accounting mapping of emission rights)

A cikk bemutatja, hogy az emissziós jogok mérleg- és beszámoló-képességi kritériumai milyen leképezést tesznek lehetővé a jelenleg érvényes Nemzetközi Pénzügyi Beszámolási Standardokban (IFRS, International Financial Reporting Standards). A vizsgálat fókuszában az üzemeltető áll, aki az Európai Unió kibocsátás-kereskedelmi rendszerének hatálya alá tartozik, azaz ipari tevékenysége folytán szén-dioxiddal szennyezi a Föld légterét. Az üzemeltető mint az emissziós jog tulajdonosa jelenik meg. A cikk megvizsgálja mindazokat a folyamatokat, melynek eredményeképpen birtokolhatja ezeket az egységeket, valamint azt, hogy az IFRS-ek milyen lehetőséget nyújtanak a különböző forrásból származó jogosultságok értékelésére. / === / The author presents that accounting and report ability criteria of the emission rights what mapping allows in the current International Financial Standards. The study focuses on the operator, who is the subject of the European Union Emissions Trading Scheme, whose industrial activities pollute with carbon dioxide to the earth’s atmosphere. The operator, as the owner of emission rights is displayed. This article examines those processes, which resulted in these units may be owned, and that what possibility is provided by IFRSs to evaluate rights from different sources.

Contabilidade de instrumentos derivados: estudo da informação divulgada pelas empresas portuguesas

This thesis is dedicated to the study of disclosure about derivative instruments and their determinants, by Portuguese companies. We have defined the following as our main research objectives: to identify the extent of disclosure relating to derivative instruments presented by Portuguese companies; to analyze the developments in the level of disclosure; and to identify the determinants of the level of disclosure. To this end, we have examined the information that has been disclosed by listed companies, for the period 2003–2009, and by companies belonging to the banking sector and insurance sector (hereinafter identified as financial firms), for 2009. We were able to conclude, in our first phase of research, that the number of disclosing firms has evolved positively, during the period 2003–2009, and that the level of disclosure has also evolved positively. On the other hand, the values obtained in the disclosure index indicate that companies are worried about compliance with accounting standards which became mandatory in 2005 and in 2007. This indicates that the adoption of the IASB’s standards since 2005 and the mandatory adoption of International Financial Reporting Standard (IFRS) No. 7, since 2007, have influenced the level of disclosure.

Activos inmateriales y su normalización contable

La aprobación de las NICs, en octubre de 2003, orienta un tratamiento contable a ser adoptado por las empresas. El entendimiento de las normativas se constituí en una responsabilidad académica. Así que el objetivo de este trabajo es estudiar la normalización del Activo Inmaterial: intangibles, considerando las normas del: International Accounting Standard Comité – IASC – la NIC 38 (de modo detallado), y el Financial Accounting Standards Board – FASB. Además se hará reflexiones con el propósito de contextualizar el tema sobre intangibles. El desarrollo de este estudio se establece a través de la investigación de datos secundarios, la propia normativa contable: NIC 38 del IASC, considerando publicaciones más recientes de autores como: Baruch Lev, Leif Edvinsson y Michael Malone, Kart Sveiby y Goodacre para citar algunos.

A NCRF 22 – Contabilização dos subsídios do governo e implicações fiscais e de auditoria

Dissertação apresentada ao Instituto Superior de Contabilidade e Administração do Porto para a obtenção do grau de Mestre em Auditoria Orientada pelo Doutor José de Campos Amorim

Stock Options: impacte nas empresas cotadas em Portugal

Mestrado em Contabilidade

A influência da cultura e do julgamento profissional sobre a contabilidade : uma análise sob o ponto de vista dos preparadores da informação em Portugal

Mestrado em Auditoria

Uma análise das diferenças em termos da cultura e dos interesses profissionais a partir do projeto de substituiçao das IAS 39: Financial Instruments - Recognition and Measurement

Mestrado em Contabilidade

Accounting accruals and information asymmetry in Europe

We investigate whether the positive relation between accounting accruals and information asymmetry documented for U.S. stock markets also holds for European markets, considered as a whole and at the country level. This research is relevant because this relation is likely to be affected by differences in accounting standards used by companies for financial reporting, in the traditional use of the banking system or capital markets for firm financing, in legal systems and cultural environment. We find that in European stock markets discretionary accruals are positively related with the Corwin and Schultz high-low spread estimator used as a proxy for information asymmetry. Our results suggest that the earnings management component of accruals outweighs the informational component, but the significance of the relation varies across countries. Further, such association tends to be stronger for firms with the highest levels of positive discretionary accruals. Consistent with the evidence provided by the authors, our results also suggest that the high-low spread estimator is more efficient than the closing bid-ask spread when analysing the impact of information quality on information asymmetry.

Tuple-based morphisms for interoperability establishment of financial information models

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para obtenção do grau de Mestre em Engenharia Electrotécnica e Computadores

A demonstração dos fluxos de caixa nas instituições particulares de solidariedade social

Dada a atual conjuntura económica internacional, a Economia Social tem vindo a aumentar consideravelmente a sua importância. Desta forma, torna-se importante conhecer o normativo contabilístico que é aplicado em Portugal. No caso concreto das Entidades do Setor Não Lucrativo, surgiu a necessidade de se encontrarem formas mais eficientes de gerir os recursos para dar resposta às necessidades sociais emergentes, e por isso, estas entidades foram, em 2011, enquadradas num novo contexto legal. O sucesso, o crescimento e a sobrevivência de uma entidade dependem da sua capacidade para gerar fluxos de caixa e/ou obter os recursos financeiros necessários ao desenvolvimento da sua atividade. Neste sentido, é a Demonstração de Fluxos de Caixa (DFC) que fornece aos seus utilizadores uma base para avaliar a capacidade da entidade gerar e utilizar os seus fluxos de caixa. Esta dissertação aborda uma área de estudo, ainda pouco investigada, a Economia Social e, em particular, as Instituições Particulares de Solidariedade Social (IPSS), sendo notório que o interesse por esta área tem vindo a acentuar-se nos últimos anos. Assim, fazendo o respetivo enquadramento teórico e normativo, avalia-se a importância da DFC, mais especificamente, a importância do relato dos fluxos nas IPSS. Para a realização desta dissertação, foi feita a análise em profundidade do relato da DFC nas IPSS, recorrendo à metodologia qualitativa, nomeadamente, à investigação descritiva, aos métodos e técnicas de recolha de dados, e, por último, à análise de conteúdo para tratar os dados qualitativos, tais como, as entrevistas. Para tratar alguns dados estatísticos foi utilizado o Microsoft Excel do Microsoft Office. A presente dissertação demonstra que o relato dos fluxos da DFC é extremamente importante, pois proporciona informação financeira que é importante no processo de tomada de decisão e na avaliação do desempenho financeiro das IPSS.

Trends in economic research: an international perspective

Given the recent efforts in several countries to reorganize the research institutional setting to improve research productivity, our analysis addresses the following questions: To which extent has the recent awareness over international quality standards in economics around the world been reflected in research performance? How have individual countries fared? Do research quantity and quality indicators tell us the same story? We concentrate on trends taking place since the beginning of the 1990s and rely on a very comprehensive database of scientific journals, to provide a cross-country comparison of the evolution of research in economics. Our findings indicate that Europe is catching-up with the US but, in terms of influential research, the US maintains a dominant position. The main continental European countries, Germany, France, Italy and Spain, experienced some of the largest growth rates in economic scientific output. Other European countries, namely the UK, Norway, the Netherlands, Denmark, and Sweden, have shown remarkable progress in per capita output. Collaborative research seems to be a key factor explaining the relative success of some European countries, in particular when it comes to publishing in top journals, attained predominantly through international collaborations.