Accounting in Europe最新文献

{"title":"Hedge Accounting and its Consequences on Portfolio Earnings – A Simulation Study","authors":"Viktoria Müller","doi":"10.1080/17449480.2020.1775267","DOIUrl":"https://doi.org/10.1080/17449480.2020.1775267","url":null,"abstract":"Abstract In this paper, I analyze the consequences of cash flow hedge accounting on portfolio earnings of firms focusing on main changes between IFRS 9 and IAS 39. For this purpose, I develop a simulation study which illustrates the quantitative effects on the accounting entries according to the currently applicable hedge accounting methods. It is especially addressed what accounting differences arise and how these distinctions may affect a firm’s earnings. Furthermore, I examine to which firms early switching becomes especially desirable or burdensome. This information is particularly useful to managers and investors. The paper shows that portfolio earnings are affected differently. In the model, IAS 39 may lead to higher or lower earnings for increasing deviations between foreign and domestic interest rates. Additionally, sensitivity to volatility changes varies among the methods. Moreover, a partly ineffective hedging relationship does not necessarily decrease earnings compared to its fully effective counterpart.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"204 - 237"},"PeriodicalIF":2.8,"publicationDate":"2020-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2020.1775267","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43446021","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":"Splitting Accountability Hairs: Anomalies in the Adaptation of IFRS for SMEs in the UK and Ireland","authors":"Imam Arafat, T. Dunne, A. H. Ahmed","doi":"10.1080/17449480.2020.1764601","DOIUrl":"https://doi.org/10.1080/17449480.2020.1764601","url":null,"abstract":"Abstract Recent years have witnessed a significant shift in the financial reporting frameworks available in the UK and Ireland affecting entities of all sizes with the Financial Reporting Council issuing three financial reporting standards replacing the extant UK GAAP. This paper reports the results of a content analysis of 151 comment letters sent to the standard-setter in response to its policy proposal. The paper explains why the standard-setter stepped back from its controversial proposal to enforce IFRS for SMEs based on the absence of public accountability. Additionally, the standard-setter addressed all concerns positively apart from two, representing two anomalies. First, despite being opposed by the majority of the respondents, the standard-setter published a new framework for wholly-owned subsidiaries of listed companies allowing them to make substantially less disclosure. Second, the standard-setter is yet to respond to the call by the accounting profession and the Not-for-profit sector to publish a sector-specific framework.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"183 - 203"},"PeriodicalIF":2.8,"publicationDate":"2020-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2020.1764601","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45713784","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":"Comparability in IPSASs: Lessons to be Learned for the European Standards","authors":"G. Mattei, Susana Jorge, F. G. Grandis","doi":"10.1080/17449480.2020.1742362","DOIUrl":"https://doi.org/10.1080/17449480.2020.1742362","url":null,"abstract":"Abstract In 2013 the European Commission started addressing issues concerning public sector accounting harmonization across EU Member States, embarking on a project to develop European Public Sector Accounting Standards (EPSASs). Although acknowledging the indisputable reference of the existing International Public Sector Accounting Standards (IPSASs), it highlighted that IPSASs, as they were, could not be suitably applied in the EU context (European Commission, 2013a). IPSASs were considered as not covering specific important matters of public sector accounting, not showing enough stability due to the need of constant convergence with IFRSs, and offering several options that compromised comparability. Comparability of public sector accounts across Member States is one of the main objectives of EPSASs (EUROSTAT, 2016, 2019), clearly established as a qualitative characteristic in the draft EPSAS Conceptual Framework (EUROSTAT, 2018). It is critical for EU economic and fiscal convergence that countries’ accounts allow for substantial comparison and standardized transition to the National Accounts (Jorge et al., 2014). The IPSAS Conceptual Framework (IPSASB, 2014), meanwhile issued, sustains that adopting these standards would improve comparability of General Purpose Financial Reporting (GPFR), in this way strengthening transparency and accountability of public sector finance. Given that, despite the above concerns, EPSASs are to be developed on the basis of IPSASs (European Commission, 2019), the purpose of this paper is to show that IPSASs are not an adequate reference for EPSASs in terms of allowing the desired comparability of countries’ accounts in the EU. It relies on evidence gathered from IPSAS-based financial reports prepared by some Agencies of the United Nations System and from audit reports of the UN Board of Auditors. The research illustrates that IPSASs only allow for de jure comparability of financial reports at a very broad level. Their implementation and interpretation in practice (due to the options permitted and the judgement required) does not allow for de facto comparable GPFR. European standard-setters need to be aware that the comparability EPSASs need to address across EU Member States’ accounts must go beyond the one that is permitted by IPSASs – EPSASs need to stretch IPSASs harmonization to a higher level of standardization.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"158 - 182"},"PeriodicalIF":2.8,"publicationDate":"2020-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2020.1742362","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45910074","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 Value Relevance of Risk Disclosure: An Analysis of the Banking Sector","authors":"B. Giner, Alessandra Allini, Annamaria Zampella","doi":"10.1080/17449480.2020.1730921","DOIUrl":"https://doi.org/10.1080/17449480.2020.1730921","url":null,"abstract":"Abstract\u0000 The aim of this study is to test whether financial risk disclosures required by IFRS 7 and Pillar 3 are value relevant for investors to support them in their investment decisions. The sample in the study consists of banks listed on the London, Paris, Frankfurt, Madrid, and Milan Stock Exchanges over an 8-year period, from 2007 to 2014. Based on the aforementioned standards, we built financial risk disclosure indexes and distinguished different risk categories, qualitative and quantitative, as well as credit, liquidity, and market risk. Our analyses confirm that there is a positive association between bank value and several categories of established risk disclosures. Furthermore, it suggests that disclosure adds value to more traditional risk value measures. Besides, our results suggest that investors pay attention to the strength of the bank authority when using risk disclosures.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"129 - 157"},"PeriodicalIF":2.8,"publicationDate":"2020-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2020.1730921","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42116271","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 Effects of Key Audit Matters on the Auditor’s Report’s Communicative Value: Experimental Evidence from Investment Professionals and Non-professional Investors","authors":"Annette G. Köhler, Nicole V. S. Ratzinger‐Sakel, Jochen C. Theis","doi":"10.1080/17449480.2020.1726420","DOIUrl":"https://doi.org/10.1080/17449480.2020.1726420","url":null,"abstract":"Abstract We investigate the effect of key audit matters (KAM) in the auditor’s report as required by the new ISA 701. We consider investment professionals and non-professional investors in our experiments, in which we test the communicative value of a KAM section relating to goodwill impairment. Our main results show that in the condition in which the KAM section suggests that already small changes in the key assumptions could eventually lead to a goodwill impairment (KAM negative condition), investment professionals assess the economic situation of the company to be significantly better as compared to the condition in which the KAM section suggests that only large changes in the key assumptions could eventually lead to a goodwill impairment (KAM positive condition). In the additional analysis with non-professional investors, we find that a KAM section has no communicative value, implying that non-professional investors have difficulties with processing the information conveyed with KAM.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"105 - 128"},"PeriodicalIF":2.8,"publicationDate":"2020-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2020.1726420","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42425333","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":"Accounting and Politics in Europe: Influencing the Standard","authors":"P. Walton","doi":"10.1080/17449480.2020.1714065","DOIUrl":"https://doi.org/10.1080/17449480.2020.1714065","url":null,"abstract":"ABSTRACT The paper considers the case of lobbying to influence the content or other aspects of a standard within Europe. It reviews the institutional framework to identify opportunities for lobbying and then considers the mechanics and constraints that affect lobbying in this context.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"303 - 313"},"PeriodicalIF":2.8,"publicationDate":"2020-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2020.1714065","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48826885","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":"On the Relationship between Audit Tenure and Fees Paid to the Audit Firm and Audit Quality","authors":"Josep García-Blandón, J. M. Argiles, Diego Ravenda","doi":"10.1080/17449480.2019.1669808","DOIUrl":"https://doi.org/10.1080/17449480.2019.1669808","url":null,"abstract":"Abstract We investigate the impact of audit firm tenure, partner tenure, audit fees, fees for non-audit services and total fees on audit quality, as measured by discretionary accruals. Our sample consists of Spanish non-financial public companies for the years between 2006 and 2013. Results indicate that audit quality increases with audit firm tenure but decreases with partner tenure. Moreover, the level of fees paid to the audit firm seems to have a negative impact on audit quality, which is mainly driven by fees for audit services. In this regard, we do not observe any significant relationship between fees for non-audit services and audit quality. Our results also show that the negative relationship between either long partner tenures or high fees and audit quality does not occur when the tenure with the audit firm is long. Therefore, long audit firm tenures do not only seem to involve higher audit quality ‘per se’, but also moderate the negative effects of partner tenure and audit fees on audit quality. The results of this study, which are robust to several sensitivity checks, may be relevant for the current debate on auditor rotation and the joint provision of audit and non-audit services.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"103 - 78"},"PeriodicalIF":2.8,"publicationDate":"2020-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2019.1669808","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47118277","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":"Intensive Board Monitoring, Investor Protection and Segment Disclosure Quality: Evidence from EU","authors":"Sameh Kobbi-Fakhfakh, R. Shabou, Benoît Pigé","doi":"10.1080/17449480.2019.1646427","DOIUrl":"https://doi.org/10.1080/17449480.2019.1646427","url":null,"abstract":"Abstract This study examined the association between intensive board monitoring (IBM) and segment disclosure quality (SDQ). It also investigated whether this association can be moderated by firm's home country investor protection (IP) level. Based on a panel of 271 non-financial European Union (EU) listed corporations covering the 2007–2012 period, this study estimated two multiple regression models including industry and year fixed effects. We found evidence that the segment disclosure quality is higher when a majority of outside directors serve on monitoring committees. We, also, found that the positive association between IBM and SDQ is more pronounced for firms in a weak IP environment and less pronounced for firms in a strong IP environment. Thus, we provided evidence in favor of a substitutive relationship between IBM and IP level with respect to their association with SDQ. Our findings are evidenced by several robustness tests.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"52 - 77"},"PeriodicalIF":2.8,"publicationDate":"2020-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2019.1646427","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41551398","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":"On the ‘Disclosure Initiative – Principles of Disclosure’: The EAA Financial Reporting Standards Committee’s View","authors":"C. Abad, E. Barone, Benita M Gullkvist, N. Hellman, Ana Marques, J. Marton, Stephanie A. Mason, Ricardo Luiz Menezes da Silva, A. Morais, Soledad Moya Gutiérrez, Alberto Quagli, A. Vysotskaya","doi":"10.1080/17449480.2019.1664753","DOIUrl":"https://doi.org/10.1080/17449480.2019.1664753","url":null,"abstract":"Abstract This paper summarises the contents of a comment letter produced by a working group of 12 academics in response to the International Accounting Standards Board (IASB) Discussion Paper on principles of disclosure. The comment letter was submitted by the Financial Reporting Standards Committee (FRSC) of the European Accounting Association (EAA). The work includes reviews of relevant academic literature of areas related to the various questions posed by the IASB in the Discussion Paper, including the ‘disclosure problem’ and the objective of the project, the suggested principles of effective communication, the roles of the primary financial statements and notes, the location of information and the use of performance measures. The paper also discusses the disclosure of accounting policies, the objectives of centralised disclosure, and the New Zealand Accounting Standards Board staff’s approach to disclosure.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"17 1","pages":"1 - 32"},"PeriodicalIF":2.8,"publicationDate":"2019-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2019.1664753","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47791154","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":"Fair Value Accounting: The Eternal Debate – AinE EAA Symposium, May 2018","authors":"Araceli Mora, Anne Mcgeachin, Mary E. Barth, R. Barker, Alfred Wagenhofer, P. Joos","doi":"10.1080/17449480.2019.1664754","DOIUrl":"https://doi.org/10.1080/17449480.2019.1664754","url":null,"abstract":"Abstract The last financial crisis led to a vigorous debate still in place about the pros and cons of fair-value accounting (FVA). While detractors basically argue its potential negative impact on procicality and financial stability or inadequacy in illiquid markets or specific business models, the International Accounting Standards Board (IASB) pushed to extend FVA in the new financial instruments standard and issued IFRS 13 to clarify its meaning and application. Some empirical research shows the usefulness of fair value accounting information to investors and contradicts its negative impact on stability, while other studies argue about its limitations in the contracting and stewardship role of accounting. The panelists of this symposium will present their views to contribute to the debate, which should be of interest not just to academic researchers, but also to practitioners and standard setters to deal with implementation issues and potential needs to address in the standards.","PeriodicalId":45647,"journal":{"name":"Accounting in Europe","volume":"16 1","pages":"237 - 255"},"PeriodicalIF":2.8,"publicationDate":"2019-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17449480.2019.1664754","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42384056","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}