scholarly journals The Possibility of the Jordanian Industrial Corporations to Apply the IFRS No. 15

2017 ◽  
Vol 9 (1) ◽  
pp. 375
Author(s):  
Hasan Al-Shatnawi
Keyword(s):  
Financial Reporting ◽  
Accounting Information ◽  
Point Of View ◽  
Descriptive Statistics ◽  
Revenue Recognition ◽  
Accounting Disclosure ◽  
Financial Reports ◽  
Accounting Measurement ◽  
The One ◽  
Level Of Significance

The goal of this study is to explore the possibility for the Jordanian industrial corporations to apply the International Financial Reporting Standers (IFRS) No. 15 from the point of view of the financial reporting preparers. To achieve the objectives of the study, a questionnaire was designed and distributed to a sample consisting of 84 individuals. Descriptive statistics were used to describe the study sample such as the frequencies, arithmetic mean, and standard deviation. In addition, the one-sample t-test was employed to test the study hypotheses at the 0.05 level of significance. This study showed that it is possible for the Jordanian industrial corporations to commit to the requirements for revenue recognition and the accounting measurement. As well as it is not possible commit to the requirements for the accounting disclosure of the revenues according to the IFRS 15. Furthermore, this study recommended to encouraging the corporations to commit to the requirements for revenue disclosure according to the IFRS 15 in such a way as to reinforce/foster trust of the users of the accounting information in the financial reports.

scholarly journals Measuring the Quality of the Interim Financial Reports Using the Qualitative Characteristics of the Accounting Information and its Effect on the Investment Decisions According to the “IAS 34”

2017 ◽  
Vol 9 (5) ◽  
pp. 159
Author(s):  
Hasan Mahmoud AL-Shatnawi
Keyword(s):  
Investment Decision ◽  
Linear Regression Analysis ◽  
Accounting Information ◽  
Investment Decisions ◽  
Point Of View ◽  
Financial Reports ◽  
The One ◽  
Level Of Significance ◽  
Qualitative Characteristics

This study aimed at measuring the quality of the interim financial reports using the quality characteristics of the accounting information and its effect on the investment decisions according to IAS 34 from the point of view of a category of the financial information users working in the brokerage companies. To achieve the objectives of the study, a questionnaire was designed that contains three constructs related to the primary qualitative characteristics, the enhancing qualitative characteristics, and quality of the interim financial reports. The questionnaire was distributed to a sample consisting of 72 individuals. Descriptive statistics were used to describe the study sample such as the frequencies, arithmetic mean, and standard deviation. In addition, the one-sample t-test and simple linear regression analysis were employed to test the study hypotheses at the 0.05 level of significance. Of the main results which the study reached to are that (i) there is effect of the qualitative characteristics of both the primary and enhancing aspects on the quality of the interim financial reports, and (ii) there is effect of the interim financial reports on the investment decision taking. The study provided a number of recommendations, most important of which is directing the prepares of the interim financial reports to pay attention to providing the qualitative characteristics for the accounting information in the interim financial reports for their positive effect on the quality of these reports to help the decision takers in predicting the economical events and building the future plans.

scholarly journals A review of the empirical determinants of audit delay

2012 ◽  
Vol 9 (2) ◽  
pp. 511-514 ◽  
Author(s):  
Salem Eghlaiow ◽  
Guneratne Wickremasinghe ◽  
Stella Sofocleous
Keyword(s):  
Financial Reporting ◽  
Accounting Information ◽  
Fiscal Year ◽  
Audit Report ◽  
Financial Reports ◽  
Significant Characteristic

Timeliness in financial reporting is considered to be a significant characteristic of accounting information. Since audit delay has been found to be the single most important factor in determining the timing of financial reports releases, this concept paper discuss the determinants of “audit delay”, the number of calendar days from fiscal year-end to the audit report date. The first section sheds some light on the significance of studying the determinants of audit delay. Next, it reviews the literature on audit report delay (ARL) and its determinants.

scholarly journals The Recent Reform of Spanish Local Governmental Accounting: A Critical Perspective from Local Governmental Accountants As Internal Users Of Budgeting And Financial Accounting Information.

2018 ◽  
Vol 16 (3) ◽  
pp. 453-476
Author(s):  
Jose Manuel Vela-Bargues ◽  
Rosa María Dasí-González ◽  
Amparo Gimeno-Ruíz
Keyword(s):  
Local Government ◽  
Financial Reporting ◽  
Accounting Information ◽  
Financial Accounting ◽  
Fiscal Year ◽  
Critical Perspective ◽  
Financial Reports ◽  
Governmental Accounting ◽  
Government Accounting ◽  
Recent Reform

Local Government Accounting and Financial Reporting in Spain has been recently reformed by the new Accounting Instructions published in 2103 and in force since the 1st of January 2015. Once the financial reports corresponding to 2016 fiscal year have been published, the main purpose of this paper is to empirically evaluate, the perceptions and opinions that local governmental accountants have about the recent reform. Our analysis has found a clear gap between the aims of the reform and the opinion of local governmental accountants, who consider the system too complex and clearly biased towards financial accounting information.

scholarly journals Analysis of The Implementation of Accounting Information Systems to Improving the Preparation of Financial Statements in The Sales Cycle of Oil and Gas Companies

2021 ◽  
Vol 5 (1) ◽  
pp. 15-27
Author(s):  
Ayi Astuti ◽  
Indri Utami ◽  
Mentari Puteri Pertiwi
Keyword(s):  
Information Systems ◽  
Financial Reporting ◽  
Oil And Gas ◽  
Descriptive Analysis ◽  
Accounting Information ◽  
Secondary Data ◽  
Financial Reports ◽  
Accounting Information Systems ◽  
Analysis Technique ◽  
Oil And Gas Companies

This study aims to determine the role of accounting information systems in improving the quality of financial reporting and analyzing financial reports in the sales cycle in accordance with accounting information systems theory. The data analysis technique used is descriptive analysis technique, namely how to analyze, interpret, and process oil and gas financial report data. Respondents in this study were one of the oil and gas companies in Bandung, namely PT. Puteramas Teguh Jaya by conducting a survey of 35 respondents. The type of data used in this research is qualitative data. Sources of data in this study are secondary data in the form of financial reports on oil and gas sales. Data collection techniques used in this study are interview techniques and documentation techniques regarding accounting information systems for sales financial reports. From the known research results, it is obtained as follows: Responses about the variables of this study are included in the high category, financial reports and sales cycle The results of the analysis found that there is a significant relationship between accounting information systems and financial reports, including knowledge of entrepreneurial competence with stakeholder support. interests with a fairly close relationship. The results of the analysis also found that the accounting information system and it were found simultaneously to have a significant effect on the sales cycle.

scholarly journals CONSIDERATIONS ON THE TREATMENT OF QUALITATIVE CHARACTERISTICS OF ACCOUNTING INFORMATION AT THE INTERNATIONAL LEVEL AND IN VARIOUS NATIONAL ACCOUNTING SYSTEMS

2014 ◽  
Author(s):  
Ionela Cristina Breahna Pravat
Keyword(s):  
Financial Reporting ◽  
Accounting Information ◽  
Accounting Standards ◽  
Quality Criteria ◽  
Financial Accounting ◽  
Financial Reports ◽  
Accounting Systems ◽  
Generally Accepted Accounting Principles ◽  
Accounting Reports ◽  
Qualitative Characteristics

The qualitative characteristics of accounting information presented by financial-accounting reports represent a concept which was subsequently introduced in the national legal accounting framework and, as a rule, the national conceptual frameworks represent the documents by means of which these quality criteria are established. At a worldwide level, there are more international or national organisms that have an important role in the elaboration of accounting standards in general and more specifically in the formulation of qualitative characteristics of financial reporting. We find two important ones among them, and these are: International Accounting Standards Board, which creates and promotes International Financial Reporting Standards (IFRS), and Financial Accounting Standards Board, which elaborates Generally Accepted Accounting Principles (US GAAP). However, at the level of each country a standardizing authority decides the rules for producing the financial reports and the qualitative characteristics that must be respected by the information contained in these documents. In this context, this paper aims to present a few general considerations concerning the treatment of the qualitative characteristics of the financial-accounting information in different accounting systems, such as the American one, or the British, French, German, Romanian ones, with insistence on the international approach to qualitative characteristics.

Accounting information quality and decision-usefulness of governmental financial reporting

2017 ◽  
Vol 25 (1) ◽  
pp. 95-113 ◽  
Author(s):  
Sandra Cohen ◽  
Sotirios Karatzimas
Keyword(s):  
Financial Reporting ◽  
Information Quality ◽  
Accounting Information ◽  
Public And Private ◽  
Financial Reports ◽  
Accounting Systems ◽  
Content Type ◽  
Decision Usefulness ◽  
Public And Private Sector ◽  
Cash Basis

Purpose This paper aims to provide an assessment of the decision-usefulness and quality of governmental financial reports in Greece under the recently adopted modified-cash basis. The evaluation is performed within the wider debate regarding the actual benefits of a transition toward an accounting paradigm that lies closer to accrual accounting as the Greek modified-cash basis borrows several accrual characteristics. Design/methodology/approach The transition to modified accruals is analyzed through the prism of the new institutional theory. The approach adopted builds on the characteristics of the accounting information pertaining to the conceptual frameworks of public and private sector accounting standard setting bodies. The assessment is conducted on the basis of the perceptions of public sector financial information users on a Web-based questionnaire. Findings The findings provide empirical evidence, albeit of moderate magnitude, in favor of the benefits associated with a move to full accruals. Originality/value The study moves the debate on the merits of accounting systems’ changes toward the worldwide witnessed trajectory a step forward by providing practical evidence on the matter.

scholarly journals ASPECTS CONCERNING INTERIM FINANCIAL REPORTING IN ROMANIA: STANDARDS AND REGULATIONS

2014 ◽  
Author(s):  
Aristita Rotila
Keyword(s):  
Financial Reporting ◽  
Current System ◽  
Accounting Information ◽  
Financial Statements ◽  
Economic Decision Making ◽  
Different Types ◽  
Annual Reporting ◽  
Standards And Regulations ◽  
The Subject ◽  
The One

The mechanisms employed for the communication of accounting information that is necessary for users in their economic decision-making process consist of the financial statements of an entity. All legal entities, no matter the domain of their activity, have the obligation to draw up annual financial statements for every completed financial year. For certain categories of entities, reporting obligations are also required for periods other than the annual reporting, throughout the financial year. It is the case of interim financial reporting. At the level of the international accounting framework, the aspects related to interim financial reporting are the subject of a separate standard, namely, IAS 34 Interim Financial Reporting. In Romania, the current system of accounting regulations concerning the annual financial statements comprises accounting regulations that comply with the European directives and which apply to the various categories of entities, on the one hand and, on the other, accounting regulations in line with the IFRS, which are applicable to other classes of entities from certain activity sectors. The accounting regulations that apply to each category refer to, among other things, the contents and the format of financial statements that have to be presented. Analysing the system of norms and regulations, this article identifies the requirements concerning interim financial reporting in Romania, with reference to the different types of entities.

scholarly journals The ability to reduce the expectation gap between financial reporting users and auditors: an analytical study of audit offices in Iraq

2021 ◽  
Vol 188 (3-4) ◽  
pp. 174-181
Author(s):  
Alaa Fareed Abdulahad ◽  
Keyword(s):  
Financial Reporting ◽  
Analytical Study ◽  
Point Of View ◽  
Financial Reports ◽  
Expectation Gap ◽  
Auditing Standards

As a result of the exposure of the audit profession to many criticisms directed by the financial community and users of financial reports, by failing to provide the desired services, resulting in a gap of expectation between the financial community and users of financial reports and auditors, the profession had to take into account the requirements of the financial community and users of financial reports to reduce the expectation gap between the financial community and users of financial reports and auditors. From this point, the study is based on examining the gap between the financial community and users of financial reports and auditors, as well as on ways to reduce this gap by an analytical study of the opinions of both auditors working in audit offices operating in Iraq and a number of users of financial reports employed in joint stock companies. In order to achieve these objectives, a survey was conducted in 2020, under which 140 questionnaires were distributed. One of the most important findings of the research is that a major reason for the gap of expectations in the audit profession from the point of view of users of financial reports is the underperformance of the auditor’s responsibilities, and the lack of auditing standards is a major reason for the gap of expectations in the audit profession from the point of view of auditors.

scholarly journals THE PERCEPTION OF ACCOUNTING EDUCATORS AND PRACTITIONERS TOWARDS THE PRACTICES OF CREATIVE ACCOUNTING

2021 ◽  
pp. 28-35
Author(s):  
Dr. Adeosun, O. A ◽  
Adekanmbi, J. A ◽  
Ogunleye, W. A.
Keyword(s):  
Financial Reporting ◽  
Academic Staff ◽  
Investment Decision ◽  
Accounting Information ◽  
Sampling Technique ◽  
Face Validity ◽  
Creative Accounting ◽  
Public Consumption ◽  
Accounting Practitioners ◽  
Level Of Significance

The study examined perception of Accounting Educators and Practitioners towards the practices of creative accounting. The study adopted descriptive research of a survey type. The population of the study comprises 187 Accounting Educators (academic staff) and practitioners at Afe Babalola University, Ado Ekiti and Federal Polytechnic, Ado Ekiti. The sample of the study was 60 respondents selected using a purposive random sampling technique. Questionnaire was the instrument used for data collection. Face validity of the instrument was ensured by the experts in the Department of Accounting. The reliability of the instrument was determined through a pilot-test conducted on the instrument. The reliability coefficient of 0.85 was obtained using the Cronbach alpha coefficient. The research questions were answered using mean scores and standard deviation and ANOVA test was used to test the hypotheses formulated at 0.05 level of significance. The study revealed that practices of creative accounting affect all the characteristics of accounting information as well as users' investment decisions and the integrity of the practitioners. In conclusion, accounting educators and practitioners indicated that creative accounting negatively affect the accounting information and the profession. Therefore, the study recommended that accounting bodies should take strict measures to curb creative accounting practices among accounting practitioners, to restore integrity and users' confidence in accounting information. Also, a monitoring group should be in place to check the draft of accounting information prepared by any organization this would be required to prepare a financial statement before being finally published for public consumption. KEYWORDS: Accounting Operation, Accounting, Auditing, Investment Decision, Financial Reporting

scholarly journals The effect of applying fair accounting on the quality of financial reports from the auditors' point of view: (A field study for Saudi Telecom Company): أثر تطبيق المحاسبة العادلة على جودة التقارير المالية من وجهة نظر المراجعين: (دراسة ميدانية لشركة الاتصالات السعودية)

2020 ◽  
Vol 4 (8) ◽  
Author(s):  
Salwa Dirar Awad Muhammad
Keyword(s):  
Fair Value ◽  
Practical Experience ◽  
Business Environment ◽  
Point Of View ◽  
Accounting Disclosure ◽  
Financial Reports ◽  
Training Institutions ◽  
The Impact ◽  
And Training

The study aimed to measure the effect of applying fair accounting on the quality of financial reports from the auditors 'point of view through knowing the reality of interest in them, and showing the impact of accounting disclosure according to the basis of fair value on the quality of financial reports from the auditors' point of view and the study examined the reality of completion of applying fair accounting in the Saudi business environment. Measuring the impact of accounting disclosure according to fair value on the quality of financial reports. The study used a sample of the auditors at Saudi Telecom Company, where an electronic questionnaire was designed and sent to the sample to clear their opinions on the impact of the application of fair accounting on the quality of the company's financial reports. The number of responses was (52) responses. The researcher used the descriptive analytical approach. The results of the study showed that there is an application of the fair value in the qualitative characteristics of accounting information and this is an indication of the quality of financial reports and that the application by the Saudi fair value companies increases the degree of reliability of the information and the study recommended the need to emphasize Saudi joint stock companies to adhere to the standard of fair value accounting and work to raise the level Coordination and interaction between Saudi universities and academic and training institutions and between joint stock companies that apply accounting standards in order to mix theoretical knowledge with the practical experience of workers in those companies.

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