Accounting in Europe最新文献

{"title":"Articulation, Profit or Loss and OCI in the IASB Conceptual Framework: Different Shades of Clean (or Dirty) Surplus","authors":"Carien van Mourik, Yuko Katsuo Asami","doi":"10.1080/17449480.2018.1448936","DOIUrl":"https://doi.org/10.1080/17449480.2018.1448936","url":null,"abstract":"Abstract The 2015 International Accounting Standards Board (IASB) Conceptual Framework Exposure Draft (2015 IASB CF ED) proposes a mixed valuation and transactions approach to income determination. Nevertheless, it does not clearly choose between single or dual concepts of profit, which renders the 2015 IASB CF ED’s financial accounting model somewhat incoherent. The 2015 IASB CF ED proposes a rebuttable presumption that profit or loss should be all-inclusive. Only the IASB can rebut this presumption, but the 2015 IASB CF ED provides no clear conceptual basis on which to rebut this presumption. In spite of considering dual measurement, the IASB believes that it is neither possible, nor necessary, to distinguish between profit or loss and other comprehensive income (OCI) on a conceptual basis. This paper suggests that the 2015 IASB CF ED’s approach to measurement can be improved by introducing a deprival value measurement rule in cases where fair value and historical cost are not appropriate. Furthermore, it argues that under dual measurement it is both necessary and possible to make a conceptual distinction between the realised items of income and expense in profit or loss and those recognised by accretion in OCI.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"167 - 192"},"PeriodicalIF":2.8,"publicationDate":"2018-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1448936","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60429797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Gaps in the IFRS Conceptual Framework","authors":"R. Barker, Alan Teixeira","doi":"10.1080/17449480.2018.1476771","DOIUrl":"https://doi.org/10.1080/17449480.2018.1476771","url":null,"abstract":"Abstract The stated purpose of the IFRS Conceptual Framework is to assist the IASB to develop Standards that are based on consistent concepts, and also to assist preparers to develop consistent accounting policies when Standards either do not apply or allow a choice of accounting policy. Yet, the Framework actually does surprisingly little to help the IASB (or preparers) determine which assets, liabilities, income and expenses should be recognised, and how they should be measured. The Framework’s focus on assets and liabilities implies that the accounting can, and should, be determined from the balance sheet. Yet, many current financial reporting requirements focus initially on the income statement, and so they are not so much derived from the Framework as instead in need of being reconciled back to it. At its heart, the problem here is that, while the Framework states that accrual accounting provides a better basis for assessing past and future performance than cash-based information, it does not explain why. To do so would require a conceptualisation of how entities’ business models are employed to create value, and of the strengths and limitations of accounting data in enhancing investors’ understanding of that value-creation. The lack of explanation of the purpose and informational objectives of accruals, how they relate to business models and how they cause the income statement and the balance sheet to interact are gaps in the Framework. Filling those gaps would provide a more robust, and natural, way for the IASB to develop recognition and measurement requirements in its Standards.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"153 - 166"},"PeriodicalIF":2.8,"publicationDate":"2018-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1476771","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49002023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Discussion of ‘Making Deferred Taxes Relevant’","authors":"Erlend Kvaal","doi":"10.1080/17449480.2018.1473618","DOIUrl":"https://doi.org/10.1080/17449480.2018.1473618","url":null,"abstract":"Abstract In this discussion of Brouwer and Naarding's article ‘Making Deferred Taxes Relevant’, which is published in this issue of Accounting in Europe, I question several aspects of their proposal to change the tax accounting standard. I argue that a quest for more value relevance of individual balance sheet items is not a good guideline for accounting standard setting. The distinction between book-first and tax-first temporary differences may be helpful for some analytical purposes, but it is not sufficiently robust to serve as a basis for an accounting standard. However, I agree with the authors that the efforts to improve IAS 12 should not be abandoned.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"231 - 241"},"PeriodicalIF":2.8,"publicationDate":"2018-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1473618","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44399774","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Essays in Honor of Professor Jacques Richard: IFRS in a Global World – International and Critical Perspectives on Accounting","authors":"A. Zorio-Grima","doi":"10.1080/17449480.2018.1468912","DOIUrl":"https://doi.org/10.1080/17449480.2018.1468912","url":null,"abstract":"","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"423 - 426"},"PeriodicalIF":2.8,"publicationDate":"2018-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1468912","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47053667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Making Deferred Taxes Relevant","authors":"A. Brouwer, E. Naarding","doi":"10.1080/17449480.2018.1451903","DOIUrl":"https://doi.org/10.1080/17449480.2018.1451903","url":null,"abstract":"Abstract We analyse the conceptual problems in current accounting for deferred taxes and provide solutions derived from the literature in order to make International Financial Reporting Standards (IFRS) deferred tax numbers value-relevant. In our view, the empirical results concerning the value relevance of deferred taxes should find their way into the accounting standard-setting process. We conclude that deferred taxes should only be recognised for temporary differences that will result in real future tax payments and/or tax receipts. Temporary differences for which the tax cash flow has already occurred have valuation implications for the underlying asset or liability and should, therefore, be accounted for based on the valuation adjustment approach. Furthermore, we conclude that partial allocation should replace comprehensive allocation in order to better align deferred taxes with expected future cash flows and thus increase their relevance and understandability. Finally, we conclude that deferred tax balances should be measured on a discounted basis to address time value.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"200 - 230"},"PeriodicalIF":2.8,"publicationDate":"2018-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1451903","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43719589","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Need to Provide Internationally Comparable Accounting Information and the Application of IFRS: Empirical Evidence from German Private Firms","authors":"B. Eierle, David Shirkhani, Christiane Helduser","doi":"10.1080/17449480.2018.1445869","DOIUrl":"https://doi.org/10.1080/17449480.2018.1445869","url":null,"abstract":"Abstract Our study, which is based on a survey carried out among German private firms, aims to ascertain which characteristics determine private firms’ need for providing internationally comparable accounting information and whether or not those firms that perceive such a need actually apply IFRS voluntarily. The relevance of equity from foreign investors and inclusion within an international group are positively associated with this perceived need, whereas international operating activities and a firm’s size are not. Regarding the voluntary adoption of IFRS, both the perceived need and also the interaction between size and need are significant. Our results show that smaller firms, despite perceiving a need for providing their stakeholders with internationally comparable accounting information, often do not apply IFRS.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"323 - 346"},"PeriodicalIF":2.8,"publicationDate":"2018-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1445869","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45044055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Discussion of Barker and Teixeira ([2018]. Gaps in the IFRS Conceptual Framework. Accounting in Europe, 15) and Van Mourik and Katsuo ([2018]. Profit or loss in the IASB Conceptual Framework. Accounting in Europe, 15)","authors":"P. Walton","doi":"10.1080/17449480.2018.1437457","DOIUrl":"https://doi.org/10.1080/17449480.2018.1437457","url":null,"abstract":"Abstract I provide comments on two papers, Barker and Teixeira ([2018]. Gaps in the IFRS Conceptual Framework. Accounting in Europe, 15) and Van Mourik and Katsuo ([2018]. Profit or loss in the IASB Conceptual Framework. Accounting in Europe, 15), in this issue, which were presented at the EAA-IASB research forum in Brussels. The paper accepts the shortcomings of the updated IASB conceptual framework and argues that these are in large part due to the origins of the document. It points out that the original US project was an attempt to make standard-setting more consistent and involved creating principles which would explain existing standards. Constituents have subsequently resisted attempts to make the framework theoretically sound because they fear this will encourage too much innovation. Standard-setters prefer incremental change, so continue to work with a model created to resolve a problem of the 1970s. I suggest that since standard-setting has been professionalised, the more significant need to is to define what information investors find useful. This may involve providing more granular information about the entity’s business model.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"193 - 199"},"PeriodicalIF":2.8,"publicationDate":"2018-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1437457","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48767855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The European IFRS Endorsement Process – in Search of a Single Voice","authors":"Carien van Mourik, P. Walton","doi":"10.1080/17449480.2018.1438635","DOIUrl":"https://doi.org/10.1080/17449480.2018.1438635","url":null,"abstract":"Abstract We analyse the creation and development of the European Financial Reporting Advisory Group (EFRAG), a key part of the EU endorsement mechanism for International Financial Reporting Standards (IFRS), which was probably the first example of a dedicated IFRS endorsement system. We discuss the historical background to the EU approach and we analyse how EFRAG evolved over its early years up to the Maystadt reform. Our analysis addresses its remit, its operational structure and financing and the key decisions made in the endorsement process over this period. We find that while national standard-setters had a limited role in the early stages, and EFRAG had limited resources, over time the pressure to find more resources and to try to achieve a unified voice in the creating of international standards have resulted in national standard-setters playing an ever-greater role. Nonetheless, a single voice for Europe is not likely to be attained","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"1 - 32"},"PeriodicalIF":2.8,"publicationDate":"2018-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1438635","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48253041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of IFRS 16 on Key Financial Ratios: A New Methodological Approach","authors":"José Morales-Díaz, Constancio Zamora-Ramírez","doi":"10.1080/17449480.2018.1433307","DOIUrl":"https://doi.org/10.1080/17449480.2018.1433307","url":null,"abstract":"In January 2016, the International Accounting Standards Board issued a new standard for lease accounting: International Financial Reporting Starndard (IFRS) 16. IFRS 16 will lead to the capitalisation of the majority of current operating leases by lessees. We analyse the impact of the new accounting model on entity’s key financial, contributing to research by making significant changes in the Imhoff et al. [(1991). Operating leases: Impact of constructive capitalization. Accounting Horizons, 5(1), 51–63. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=9604010111&site=ehost-live; (1997). Operating leases: Income effects of constructive capitalization. Accounting Horizons, 11(2), 12–32. Retrieved from http://0-search.proquest.com.fama.us.es/docview/208896121?accountid=14744] methodology used by previous authors. We change how the lease term is estimated (more aligned with the final approved standard), and how the discount rate is obtained. Furthermore, we use a more comprehensive sample (646 quoted European companies). In line with previous research we find important systematic impacts on key balance sheet financial ratios (mainly leverage ratios), on a magnitude that depends on the operating lease intensity of the sector in which the entity operates. Our estimated impact is generally higher than that obtained in previous studies. The most affected sectors are retail, hotels and transportation. We do not find a consistent result with regard to the effect on profitability ratios.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"105 - 133"},"PeriodicalIF":2.8,"publicationDate":"2018-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1433307","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48296978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Routledge Companion to Qualitative Accounting Research Methods","authors":"Massimo Sargiacomo","doi":"10.1080/17449480.2018.1442581","DOIUrl":"https://doi.org/10.1080/17449480.2018.1442581","url":null,"abstract":"approach for valuing brands. It is based on trading and/or transaction multiples from comparable firms whose value is mostly driven by brands. Chapter eight presents a cost-based method that relies on estimating the investments necessary to reproduce a similar brand. These investments may be assessed from historical costs data or from a reproduction costs analysis. The last part of the book starts with chapter nine. It encompasses valuation standards that strive to provide common practices, and common methodologies. It provides an overview of the contexts (i.e. specifically during the 2008 financial crisis) in which the standards have emerged and the issues they raised (i.e. inconsistencies in assets valuation). The pros and cons of brand valuation within standards such as IFRS, US Generally Accepted Accounting Principles (US GAAP), International Valuation Standards Council (IVSC), ISO 10668 and International Association of Consultants Valuators and Analysts (IACVA) are discussed. Chapter ten lists and discusses the major ad hoc valuation models for brand. The models are grouped according to whether they rely on (1) the Excess Earning approach (two models from Interbrand and BrandEconomics are described and discussed), (2) the Relief-from-Royalties (with the discussion of the BrandFinance model) (3) and market multiples (with the discussion of the Brand Equity Evaluation System, BEES). Chapter eleven deals with the factors affecting brands volatility. First the quantity of available financial data on brands necessary to estimate their value is quite low. Second, two conceptual issues leads to higher uncertainty with classical valuation models, i.e. the ubiquity of brands (i.e. unlike other assets that are usually scarce resources), and the positive demand externalities (i.e. the brand is used the better it is). The chapter then introduces and discusses new areas for brand valuation, such as real options and the need to account for synergies and interactions between a brand and other intangibles (e.g. human capital). Overall, this book provides a rich overview of the main brand valuation models. It also emphasizes issues taken from relevant real cases. The analysis offers a good synthesis and a comparison among the numerous models. Furthermore, the book contains numerous references from the finance and accounting literature. The approach enables the reader to understand the reasons why brand values may differ upon evaluators. Its target audience can be then oriented toward both practitioners and graduate students which may grasp interesting input with the real-life cases.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"15 1","pages":"149 - 151"},"PeriodicalIF":2.8,"publicationDate":"2018-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2018.1442581","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47264381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}