Accounting for crypto-assets: stakeholders’ perceptions

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jun Heng Chou ◽  
Prerana Agrawal ◽  
Jacqueline Birt
Keyword(s):  
Design Methodology ◽  
Continuous Monitoring ◽  
Rapid Development ◽  
Accounting Standards ◽  
Accounting Standard ◽  
Content Type ◽  
Current Accounting ◽  
Stakeholder Groups ◽  
Multiple Stakeholder ◽  
Accounting Practitioners

Purpose The purpose of this paper is to analyse stakeholders’ perceptions on the accounting of crypto-assets. They also look at the need to amend/clarify existing accounting standards or develop new accounting standards. Design/methodology/approach The authors use a qualitative approach featuring interviews with four stakeholder groups including academics, professional bodies, standard setters and accounting practitioners. Interview recordings are transcribed and then analysed through NVivo. Findings The interviewees identify various issues in the application of current accounting standards to crypto-assets. The interviewees perceive that the rapid development of crypto-assets and fluidity hinder the development of accounting guidance. Hence, continuous monitoring by standard-setters is required. The general consensus is that unless there are crypto-assets with economic characteristics and functionality that are pervasive enough to warrant a new accounting standard, principles of current accounting standards are robust to address gaps in accounting requirements for crypto-assets. Originality/value This study adds to the discussion on harmonising the current practices in accounting of crypto-assets. By examining perceptions of multiple stakeholder groups, this study provides insights into the applicability of current accounting standards to the classification, measurement and disclosure of crypto-assets. The findings will inform standard setters and aid their efforts towards providing formal guidance on the accounting of crypto-assets.

scholarly journals Lens or prism? How organisations sustain multiple and competing reputations

2017 ◽  
Vol 51 (4) ◽  
pp. 821-844 ◽  
Author(s):  
William S. Harvey ◽  
Marwa Tourky ◽  
Eric Knight ◽  
Philip Kitchen
Keyword(s):  
Focus Groups ◽  
Corporate Reputation ◽  
Design Methodology ◽  
Qualitative Case Study ◽  
Content Type ◽  
Global Management ◽  
Stakeholder Groups ◽  
Multiple Stakeholder ◽  
Cross Country

Purpose This paper aims to challenge singular definitions, measurements and applications of corporate reputation which tend to be reductionist. The authors rebuff such narrow representations of reputation by showing the multiplicity of reputation in the case of a global management consulting firm and demonstrate how it has sustained such reputations. Design/methodology/approach Using a large cross-country qualitative case study based on interviews, focus groups, non-participant observations, workshops and a fieldwork diary, dimensions of reputation are highlighted by drawing on perceptions from multiple stakeholder groups in different geographies. Findings The authors find significant differences in perceptions of reputation between and within stakeholder groups, with perceptions changing across dimensions and geographies. Originality/value The theoretical implications of the research indicate a plurality of extant reputations, suggesting that a prism is more suited to representing corporate reputation than a singular, lens-like focus which is too narrow to constitute reputation. This paper offers theoretical and practical suggestions for how global firms can build and sustain multiple and competing corporate reputations.

scholarly journals Business succession from an Islamic accounting perspective

2019 ◽  
Vol 11 (2) ◽  
pp. 267-281 ◽  
Author(s):  
Umar Habibu Umar ◽  
Junaidu Muhammad Kurawa
Keyword(s):  
Family Business ◽  
Design Methodology ◽  
Islamic Law ◽  
Accounting Standards ◽  
Accounting Standard ◽  
Content Type ◽  
Going Concern ◽  
Business Succession ◽  
Full Consideration ◽  
Practical Implications

Purpose The purpose of this paper is to discuss the inheritance of a business from the Islamic accounting perspective. Design/methodology/approach The paper adapts the relevant provisions of conventional accounting standards and practices that conform to Sharīʿah (Islamic law). In addition, the provisions of the Islamic accounting standard for musharakah (AAOIFI’s FAS No. 4) found to be relevant are also adapted. Findings The study shows that the assets of an inherited business should be measured at their fair values and that liabilities and legacies must be deducted therefrom with the view to arriving at the equity (or residue). The equity is then distributed among the heirs based on the sharing ratio established according to the Noble Qurʾān, the Sunnah (the Prophet’s way) and Muslim jurists’ views. Therefore, the inherited business becomes a family business as each heir is admitted into it. By extension, Islam emphasizes that the business should remain a going concern to generate income to sustain the welfare of the heirs. Research limitations/implications The discussion of the paper is limited to the inheritance of a business and its going concern in line with the Sharīʿah. Practical implications Special attention should be paid to the inherited business to ensure not only its continuity to generate income for the heirs but also that each heir gets a correct share of the equity of the business as regulated by the Sharīʿah. Originality/value This study links Islamic inheritance to the going concern of the business, which from all indications has not been given full consideration by previous studies.

Measuring goodwill and noncontrolling interest under the new consolidation accounting standards

2017 ◽  
Vol 15 (2) ◽  
pp. 198-207
Author(s):  
James G.S. Yang ◽  
Frank J. Aquilino
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Accounting Standards ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
Accounting Standard ◽  
Content Type ◽  
Net Assets ◽  
Practical Implications

Purpose The accounting standards for consolidated financial statements have been updated recently. The change involves the measurement of goodwill and noncontrolling interest. Under the new accounting standards, goodwill consists of not only the parent company’s portion but also the noncontrolling interest’s share. The noncontrolling interest comprises both the subsidiary’s identifiable net assets and goodwill. In addition, it further changes the treatment of noncontrolling interest from liability to equity. The change indeed has far-reaching consequences on financial statements. This paper formulates an equation to measure goodwill and noncontrolling interest. It also provides some examples for illustrative purposes. The purpose of this paper is to update the financial reporting to the current standards. Design/methodology/approach New accounting standards under FASB #141R and 160. Findings New accounting standards in measuring goodwill and noncontrolling interest in financial reporting. Research limitations/implications The knowledge is useful for accountants and financial analysts. Practical implications Improve the quality of financial statements. Social implications Investors will be better informed. Originality/value This new accounting standard was not explored before.

A framework for programmatically designing user interfaces in JavaScript

2015 ◽  
Vol 11 (3) ◽  
pp. 254-269
Author(s):  
Henry Larkin
Keyword(s):  
User Interface ◽  
User Interfaces ◽  
Design Methodology ◽  
Rapid Development ◽  
Program Code ◽  
Web Based ◽  
Content Type ◽  
Mobile Web ◽  
Mobile Interfaces ◽  
New Framework

Purpose – The purpose of this paper is to investigate the feasibility of creating a declarative user interface language suitable for rapid prototyping of mobile and Web apps. Moreover, this paper presents a new framework for creating responsive user interfaces using JavaScript. Design/methodology/approach – Very little existing research has been done in JavaScript-specific declarative user interface (UI) languages for mobile Web apps. This paper introduces a new framework, along with several case studies that create modern responsive designs programmatically. Findings – The fully implemented prototype verifies the feasibility of a JavaScript-based declarative user interface library. This paper demonstrates that existing solutions are unwieldy and cumbersome to dynamically create and adjust nodes within a visual syntax of program code. Originality/value – This paper presents the Guix.js platform, a declarative UI library for rapid development of Web-based mobile interfaces in JavaScript.

Adoption of IFRS in Japan: challenges and consequences

2015 ◽  
Vol 27 (1) ◽  
pp. 3-27 ◽  
Author(s):  
Noriyuki Tsunogaya ◽  
Andreas Hellmann ◽  
Simone Domenico Scagnelli
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Accounting Standards ◽  
Accounting System ◽  
International Accounting Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Institutional Complementarity ◽  
Accounting Environment ◽  
Social Organizational

Purpose – The purpose of this study is to provide a rigorous and holistic analysis of the main features of the Japanese accounting environment. It also raises issues related to the adoption of International Financial Reporting Standards (IFRS) in Japan. Design/methodology/approach – For the purpose of investigating the Japanese accounting system, this study applies the accounting ecology framework developed by Gernon and Wallace (1995) and provides a content analysis of relevant meetings of the Business Accounting Council of Japan. Findings – The findings of this study provide evidence that it would be problematic to require the adoption of IFRS for all listed companies in Japan. The main reason for this is that the Japanese policymakers and standard-setting bodies follow two objectives: enhancing the international comparability of financial reporting and maintaining institutional complementarity between financial reporting and other infrastructures such as accounting-related laws. Research limitations/implications – This study is relevant for accounting researchers and professionals with an interest in Japanese accounting practices. It is also useful for the International Accounting Standards Board and representatives of countries planning to adopt IFRS in the future. Originality/value – The findings of this study show that contextual issues such as social, organizational and professional environments cannot be ignored in the adoption of IFRS in Japan.

scholarly journals An intelligence optimization method based on crowd intelligence for IoT devices

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ke Wang ◽  
Zheming Yang ◽  
Bing Liang ◽  
Wen Ji
Keyword(s):  
Genetic Algorithm ◽  
Design Methodology ◽  
Rapid Development ◽  
Optimization Method ◽  
The Internet ◽  
Content Type ◽  
Communication Capacity ◽  
Iot Devices ◽  
Crowd Intelligence ◽  
The Internet Of Things

Purpose The rapid development of 5G technology brings the expansion of the internet of things (IoT). A large number of devices in the IoT work independently, leading to difficulties in management. This study aims to optimize the member structure of the IoT so the members in it can work more efficiently. Design/methodology/approach In this paper, the authors consider from the perspective of crowd science, combining genetic algorithms and crowd intelligence together to optimize the total intelligence of the IoT. Computing, caching and communication capacity are used as the basis of the intelligence according to the related work, and the device correlation and distance factors are used to measure the improvement level of the intelligence. Finally, they use genetic algorithm to select a collaborative state for the IoT devices. Findings Experimental results demonstrate that the intelligence optimization method in this paper can improve the IoT intelligence level up to ten times than original level. Originality/value This paper is the first study that solves the problem of device collaboration in the IoT scenario based on the scientific background of crowd intelligence. The intelligence optimization method works well in the IoT scenario, and it also has potential in other scenarios of crowd network.

Impairment reversals: unbiased reporting or earnings management

2018 ◽  
Vol 26 (2) ◽  
pp. 245-271 ◽  
Author(s):  
Tongyu Cao ◽  
Hasnah Shaari ◽  
Ray Donnelly
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Financial Accounting Standards Board ◽  
Reporting Standard ◽  
Accounting Standard ◽  
Content Type ◽  
Study Support ◽  
A Company

Purpose This paper aims to provide evidence that will inform the convergence debate regarding accounting standards. The authors assess the ability of impairment reversals allowed under International Accounting Standard 36 but disallowed by the Financial Accounting Standards Board to provide useful information about a company. Design/methodology/approach The authors use a sample of 182 Malaysian firms that reversed impairment charges and a matched sample of firms which chose not to reverse their impairments. Further analysis examines if reversing an impairment charge is associated with motivations for and evidence of earnings management. Findings The authors find no evidence that the reversal of an impairment charge marks a company out as managing contemporaneous earnings. However, they document evidence that firms with high levels of abnormal accruals and weak corporate governance avoid earnings decline by reversing previously recognized impairments. In addition, companies that have engaged in big baths as evidenced by high accumulated impairment balances and prior changes in top management, use impairment reversals to avoid earnings declines. Research limitations/implications The results of this study support both the informative and opportunistic hypotheses of impairment reversal reporting using Financial Reporting Standard 136. Practical implications The results also demonstrate how companies that use impairment reversals opportunistically can be identified. Originality/value The results support IASB’s approach to the reversal of impairments. They also provide novel evidence as to how companies exploit a cookie-jar reserve created by a prior big bath opportunistically.

Accounting for leases – lessons from COVID-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alan Teixeira
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Accounting Standards ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Accounting Standards Board ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Setting Process

Purpose The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) have given relief to lessees in response to the coronavirus (COVID-19) pandemic. However, it is not clear why any relief from the requirements in International Financial Reporting Standards (IFRS) or the Accounting Standards Codification (ASC) should be necessary. The purpose of this paper is to highlight weaknesses in how the IASB and FASB developed their leases Standards, and why those Standards are not robust enough to cope with a shock to the economic system. Design/methodology/approach The COVID-19 relief suspends some features of the leasing requirements rather than changing them. What if other economic or regulatory events cause the same circumstances to arise? Findings Have COVID-19 exposed weaknesses in the leasing standards that should have been avoided when they were developed or is COVID-19 the problem? Originality/value Analysis of actual board discussions and staff papers is unusual and provides insights into the standard-setting process.

The IPSASB's recent strategies: opportunities for academics and standard-setters

2020 ◽  
Vol 32 (3) ◽  
pp. 315-319 ◽  
Author(s):  
Gwenda Jensen
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Design Methodology ◽  
Accounting Standards ◽  
Fitness For Purpose ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Public Sector Accounting ◽  
Ongoing Dialogue ◽  
Practical Implications

PurposeThe purpose of this article is to contribute to an ongoing dialogue between practitioners and academics. This article describes the International Public Sector Accounting Standards Board (IPSASB) recent strategies and highlights the IPSASB's increasing outreach to academics.Design/methodology/approachThis is a practitioner's viewpoint which reflects the IPSASB's publicly available documents, and the opinions of a practitioner directly involved in the IPSASB's work and International Public Sector Accounting Standards (IPSAS) development.FindingsThe findings are that the IPSASB has increased its outreach to academics and now academics have more opportunities to engage with the IPSASB and IPSAS developments. The IPSASB's strategy has remained relatively constant over time, focusing on IPSAS to address public sector-specific issues, alignment with the International Financial Reporting Standards (IFRS) and reduction of differences between IPSAS and Government Finance Statistics (GFS) reporting guidelines.Research limitations/implicationsThe limitations of this article (which are also its strength in terms of fitness for purpose) are that as a practitioner's viewpoint it provides a brief overview and personal judgments, rather than an empirical analysis of developments applying a theoretical framework.Practical implicationsThe practical implications were IPSASB's increased outreach to the research community providing opportunities for academics to have increased input into IPSAS development, with likely benefits to researchers and the IPSASB.Social implicationsPractitioners’ engagement with academics supports increased understanding of the respective views leading to better outcomes for practitioners and academics working in the area of public sector financial reporting and its regulation.Originality/valueThis article is the first to (a) describe the IPSASB's increasing outreach to academics during 2019–2020 and (b) compare the IPSASB's strategies for the period of 2019–2023, with its strategies since the beginning of IPSAS developments in 1996–1997.

Event- and self-triggered control of attitude coordination to multi-spacecraft system

2020 ◽  
Vol 92 (7) ◽  
pp. 1085-1092
Author(s):  
Chengxi Zhang ◽  
Jin Wu ◽  
Ming-Zhe Dai ◽  
Bo Li ◽  
Mingjiang Wang
Keyword(s):  
Design Methodology ◽  
Continuous Monitoring ◽  
Control Policy ◽  
Euler Angle ◽  
Content Type ◽  
Practical Implications ◽  
Event Triggered

Purpose The purpose of this paper is to investigate the attitude cooperation control of multi-spacecraft with in-continuous communication. Design/methodology/approach A decentralized state-irrelevant event-triggered control policy is proposed to reduce control updating frequency and further achieve in-continuous communication by introducing a self-triggered mechanism. Findings Each spacecraft transmits data independently, without the requirement for the whole system to communicate simultaneously. The local predictions and self-triggered mechanism avoid continuous monitoring of the triggering condition. Research limitations/implications This investigation is suitable for small Euler angle conditions. Practical implications The control policy based on event-triggered communication can provide potential solutions for saving communication resources. Originality/value This investigation uses event- and self-triggered policy to achieve in-communication for the multi-spacecraft system.

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