scholarly journals Amendments to IAS 16 and IAS 41: Are There Any Differences between Plant and Animal from a Financial Reporting Point of View?

2017 ◽  
Vol 65 (1) ◽  
pp. 327-337 ◽  
Author(s):  
Patrik Svoboda ◽  
Hana Bohušová
Keyword(s):  
Dairy Cows ◽  
Financial Reporting ◽  
Fair Value ◽  
Apple Orchard ◽  
Point Of View ◽  
Historical Cost ◽  
Factors Influencing ◽  
Significant Difference ◽  
Value Measurement

The aim of the paper is the evaluation of appropriateness of different ways for the measurement and reporting of different groups of biological assets. There are two possible ways of their measurement – cost and fair value. The substance of all kinds of biological assets differs significantly, especially for plants and animals. The single way for measurement of all kinds of biological assets is not satisfactory. The most significant difference is observable between bearer plants and biological assets in the form of living animals. The authors took into account a majority of factors influencing quality of individual ways of measurement, and evaluated the application of the above‑mentioned methods for representatives of both kinds of biological assets (apple orchard and dairy cows). The results of the study proved that the historical cost is the suitable way of bearer plants measurement, while the fair value measurement is more suitable for measurement of living animals.

The effect of accounting methods on financial reporting quality

2018 ◽  
Vol 60 (6) ◽  
pp. 1401-1411
Author(s):  
Andrain Hadiyanto ◽  
Evita Puspitasari ◽  
Erlane K. Ghani
Keyword(s):  
Financial Reporting ◽  
Palm Oil ◽  
Reporting Quality ◽  
Fair Value ◽  
Financial Information ◽  
Financial Reporting Quality ◽  
Content Type ◽  
Historical Cost ◽  
Fair Value Measurement ◽  
Value Measurement

Purpose This study aims to examine the relationship between accounting measurement method of biological asset and financial reporting quality. Specifically, this study examines whether using fair value method or the historical cost method on biological asset provides different financial reporting quality. Design/methodology/approach This study uses data from 38 agricultural companies that are members of the Roundtable on Sustainable Palm Oil. The annual reports of 38 companies from the Palm Oil Growers over a five-year period starting from 2011 to 2014 are analysed. Findings This study shows that companies using historical cost measurement produce less reliable and less relevant information compared to the companies that are using fair value measurement. Research limitations/implications The results in this study imply that the use of fair value measurement improves the quality of financial information. Practical implications This study supports IASB’s justification of developing IAS 41 as the principle-based standard that better represents the financial information related to biological asset and subsequently lead to good accountability and harmonisation practices. Originality/value This study provides evidence on the best measurement to be used in agriculture activities using a larger sample size of few countries. In addition, this study contributes to the existing literature on the effect of accounting methods on financial reporting quality.

scholarly journals The Foundations for a General Theory of General Purpose Financial Reporting for Business

2021 ◽  
Author(s):  
◽  
David Sutton
Keyword(s):  
General Theory ◽  
Financial Reporting ◽  
Central Element ◽  
Accounting Standards ◽  
Fair Value ◽  
General Purpose ◽  
Historical Cost ◽  
Legitimate User ◽  
Valuation Method ◽  
Value Measurement

<p>Accounting standards setters have progressively moved towards decision-useful, investor-focused fair value accounting standards for general purpose financial reporting (GPFR). With some qualification, the case is made that this development is positive for accounting as a discipline. This paper develops a referent theory of accounting to contextualize standards setters' implicit direction, derived from existing research and literature. A central element in the development of this theory is the case made for 'investor-as-GPFR user'. Against this, stakeholder theory and positive accounting theory will be identified as confounding influences on the development of a general theory of accounting. The argument is for the investor, both current and potential, as the sole legitimate user of GPFR. The practical implications of the theory are considered against the prevailing debate over optimal accounting valuation method; the debate between fair value measurement and historical cost. The case is made that a number of ostensible dichotomies in accounting thought, such as between relevance and accountability, are substantially reconcilable. The mutual exclusivity often implied of accounting information relevance and accountability-cum-reliability is rejected. The development of a general theory of accounting is timely as such a referent theory is necessary to legitimize standards setting and secure accounting's place in an increasingly diverse financial information market. Inferentially, trends in the evolution of fair value standards reflect the dominant concern to meet threats to the discipline as a whole; this standard setting trend qualified in speed and degree by the narrow interests of 'constituents'.</p>

Measurement in Financial Reporting: The Need for Concepts

2013 ◽  
Vol 28 (2) ◽  
pp. 331-352 ◽  
Author(s):  
Mary E. Barth
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Fair Value ◽  
Historical Cost ◽  
Accounting Measurement ◽  
Starting Point ◽  
Subsequent Measurement ◽  
Alternative Measurement ◽  
Definition Of ◽  
Value Measurement

SYNOPSIS The Conceptual Framework neither specifies the objective or definition of accounting measurement, nor provides a conceptual basis for choosing among alternative measurement bases. This paper offers a starting point for developing measurement concepts based on existing Framework concepts, including the objective of financial reporting, the qualitative characteristics of useful financial information, and the definitions of assets and liabilities. The paper focuses on subsequent measurement of individual assets and liabilities and concludes that fair value measurement is more consistent with existing concepts than either modified or unmodified historical cost. Although unmodified historical cost is consistent with some concepts, modified historical cost—which is widely used today—largely is not. Also, aggregate amounts, such as total assets and total liabilities based on modified or unmodified historical cost, lack meaning. Because financial statements include such aggregate amounts and changes in amounts of individual assets and liabilities determine comprehensive income, measurement concepts also need to contemplate these measurements.

Challenges in auditing fair value measurement and accounting estimates

2020 ◽  
Vol 18 (1) ◽  
pp. 51-75
Author(s):  
Babajide Oyewo ◽  
Ebuka Emebinah ◽  
Romeo Savage
Keyword(s):  
Financial Reporting ◽  
Reporting Quality ◽  
Fair Value ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Content Type ◽  
Significant Difference ◽  
Accounting Estimates ◽  
Fair Value Measurement ◽  
Value Measurement

Purpose Following the issuance of International Financial Reporting Standard 13 on fair value measurement (which became operational from January 2013), this study aims to investigate post-implementation challenges in the audit of fair value measurement and accounting estimates in the Nigerian context. Design/methodology/approach Data-collection was through a structured-questionnaire administered on 400 auditors from diverse backgrounds in terms of audit firm size, international affiliation and global presence. Findings Empirical data obtained from 277 auditors were analysed using descriptive statistics, factor analysis, one-way ANOVA, cluster analysis, independent sample t-test and one-way multivariate analysis of co-variance. It was observed that the two highest-ranking and most-prevalent challenges of auditing fair value measurement and accounting estimates are the tendency for managers to manipulate earnings owing to the inability of auditor to effectively test fair value estimates; and the difficulty in testing unobservable inputs due to the application of assumptions and judgement in arriving at estimates by preparers of financial reports. Originality/value While there is no significant difference in the perception of auditors on the audit challenges associated with fair value measurement and accounting estimates, there is a significant difference in the magnitude of audit challenges faced in verifying fair value measurements and accounting estimates across industry sectors. Concerned stakeholders (including but not limited to accounting regulators, auditing standard setters, audit firms, researchers) are importuned to come up with robust and pragmatic measures to curtain these challenges, as the inability of auditors to rigorously verify fair value estimates may jeopardize the very essence of fair value measurement which is to elevate financial reporting quality.

scholarly journals The Foundations for a General Theory of General Purpose Financial Reporting for Business

2021 ◽  
Author(s):  
◽  
David Sutton
Keyword(s):  
General Theory ◽  
Financial Reporting ◽  
Central Element ◽  
Accounting Standards ◽  
Fair Value ◽  
General Purpose ◽  
Historical Cost ◽  
Legitimate User ◽  
Valuation Method ◽  
Value Measurement

<p>Accounting standards setters have progressively moved towards decision-useful, investor-focused fair value accounting standards for general purpose financial reporting (GPFR). With some qualification, the case is made that this development is positive for accounting as a discipline. This paper develops a referent theory of accounting to contextualize standards setters' implicit direction, derived from existing research and literature. A central element in the development of this theory is the case made for 'investor-as-GPFR user'. Against this, stakeholder theory and positive accounting theory will be identified as confounding influences on the development of a general theory of accounting. The argument is for the investor, both current and potential, as the sole legitimate user of GPFR. The practical implications of the theory are considered against the prevailing debate over optimal accounting valuation method; the debate between fair value measurement and historical cost. The case is made that a number of ostensible dichotomies in accounting thought, such as between relevance and accountability, are substantially reconcilable. The mutual exclusivity often implied of accounting information relevance and accountability-cum-reliability is rejected. The development of a general theory of accounting is timely as such a referent theory is necessary to legitimize standards setting and secure accounting's place in an increasingly diverse financial information market. Inferentially, trends in the evolution of fair value standards reflect the dominant concern to meet threats to the discipline as a whole; this standard setting trend qualified in speed and degree by the narrow interests of 'constituents'.</p>

scholarly journals Examination of the Concept of School Climate from the Perspective of Physical Education and Sports Teacher Candidates

2021 ◽  
Vol 11 (1) ◽  
pp. 11
Author(s):  
Cüneyt Taşkın ◽  
Umut Canlı
Keyword(s):  
School Climate ◽  
Physical Education ◽  
Student Success ◽  
Teacher Candidates ◽  
Point Of View ◽  
Quality Of Education ◽  
Significant Difference ◽  
Climate Scale ◽  
Post Hoc

School climate, which is the sum of behaviors in a school, is also defined as the character of the school. A school’s climate has a significant impact on the quality of education, and on student success or failure. From this point of view, this study aims to examine the school climate from the perspectives of physical education and sports teacher candidates. To this end, the "School Climate Scale for University Students", developed by Ali R. Terzi, was applied to 303 physical education and sports teaching department students with three sub-factors. The data obtained were first subjected to a structure analysis and then to the reliability validity test, and the validity of the scale was determined. According to the type of variables, independent groups t-tests, one-way analysis of variance tests, post hoc tests, or effect size (Eta-square) tests were applied. While the answers given by the teacher candidates did not differ according to gender, a significant difference was found according to the grade they were studying in (in favor of first and fourth year students).

scholarly journals PENGARUH PERUBAHAN STATUS, EMPLOYEE ENGAGEMENT, DAN PEMANFAATAN TEKNOLOGI INFORMASI TERHADAP KUALITAS PELAPORAN KEUANGAN

2017 ◽  
Vol 19 (4) ◽  
pp. 495
Author(s):  
Nani Yuheti Yuniatin ◽  
Noer Azam Achsani ◽  
Hendro Sasongko
Keyword(s):  
Information Technology ◽  
Employee Engagement ◽  
Financial Reporting ◽  
Financial Management ◽  
Test Results ◽  
Financial Reports ◽  
Significant Difference ◽  
Before And After ◽  
The Status

This study aimed to examine the effect of changes in status, employee engagement, and the utilization of information technology on the quality of financial reporting. Analysis of variance (ANOVA) was used to examine changes in the status of Bogor Agricultural University. Moreover we employ a multiple regression analysis to examine the effect of employee engagement and information technology in performance financial of report.  In addition, Ultrecht Work Engagement Scale (UWES) was used to examine the financial human resource mapping. The results of ANOVA test showed that there was no significant difference of the financial management of Bogor Agricultural University before and after the implementation of Public Service Board (BLU). Furthermore, multiple linear regression test results showed that the factors that affect the performance of financial reports are employee engagement and use of information technology. However, it is found that the factor that really affects the performace of financial reports is the use of information technology. Finally, the test results of the mapping showed that employee engagement of human resources staff of Bogor Agricultural University are in medium position indicating that it needs to be maintained and improved.

PENERAPAN PSAP NOMOR 07 TENTANG AKUNTANSI ASET TETAP PADA KANTOR KEPOLISIAN RESOR KOTA LUBUKLINGGAU

2021 ◽  
Vol 4 (3) ◽  
pp. 961
Author(s):  
Norman Hadi ◽  
Sriyani Sriyani
Keyword(s):  
Financial Reporting ◽  
Financial Management ◽  
Balance Sheet ◽  
Economic Benefits ◽  
Point Of View ◽  
Police Station ◽  
Straight Line ◽  
Fixed Assets ◽  
The Government

The reform of state financial management in 2003 was aimed at realizing transparent and accountable government financial reporting. Reform of state financial management is the first step in improving the quality of state finances. In the government environment, fixed assets play an important role in government operations and also benefit the community. The problem studied is how the suitability of accounting for fixed assets at the Lubuklinggau Police with PSAP number 07 concerning Accounting for Fixed Assets from the point of view of recognition, measurement, presentation, and disclosure of Fixed Assets in Financial Statements. The research method used is a qualitative method, the method of data collection is carried out by means of observation and interviews with parties related to accounting at the Lubuklinggau Police Station. The results of this study are the Lubuklinggau Police Station has implemented Fixed Asset Accounting in accordance with PSAP 07, namely Assets are recognized when future economic benefits have been obtained and their value can be measured reliably, Fixed Assets are measured at cost, depreciation is carried out using a straight line and presented in Balance sheet according to PSAP 07.

Efficiency of organic and mineral fertilizers under sugar beet and watermelon

2021 ◽  
Vol 03 (01) ◽  
pp. 40-46
Author(s):  
Hasil Cəmil oğlu Bağırov ◽  
◽  
Vüqar İmanəli oğlu Cəfərov ◽  
Arzu Vidadi qızı Həşimova ◽  
Rəşidə Elşən qızı Şükürova ◽  
...  
Keyword(s):  
Sugar Beet ◽  
Quality Indicators ◽  
Point Of View ◽  
Agricultural Products ◽  
Mineral Fertilizers ◽  
Combined Application ◽  
Factors Influencing ◽  
Organic And Mineral Fertilizers ◽  
Positive Effect

Without knowing the main quality indicators of agricultural products, it is impossible to draw conclusions about the effectiveness of this or that agro-technical measure. One of the factors influencing the quality of sugar beet and watermelon is the effective application of fertilizers. Fertilizers increase the quality indicators of the product along with its expansion. From this point of view, the effect of organic and mineral fertilizers on the quality indicators of sugar beet and watermelon product in the meadow-gray soils of Mugan-Salyan region was studied. The combined application of organic and mineral fertilizers had a positive effect on the quality indicators of sugar beet and watermelon. Key words: organic and mineral fertilizers, sugar beet, watermelon, phosphorus, potassium, productivity, soil, quality

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