scholarly journals Segment Reporting Practices in India: A Case Study of TCS

2019 ◽  
Vol 5 (1) ◽  
pp. 55-62
Author(s):  
Gayatri Guha Roy ◽  
Bhagaban Das
Keyword(s):  
Accounting Standards ◽  
Financial Information ◽  
Financial Accounting ◽  
Annual Reports ◽  
Aggregated Data ◽  
Reporting Practices ◽  
Segment Reporting ◽  
Sfas 131 ◽  
Present Case Study

Segment reporting requires companies especially those which are multi-product and multi-location to disclose their segment-wise operations in their annual reports as well as in their quarterly reports. The users of financial statements have different utilities for the financial information. The users of accounting information are the stakeholders and they are mainly concerned with financial information of various segments of business. The concept of segment reporting in a formalized form is almost 32 years old. It was proposed in 1974 when the Financial Accounting Standard Board (FASB) of USA issued Statement of Financial Accounting Standards (SFAS) 14. After, this International Accounting Standards Committee issued IAS 14 reporting financial information by segment in 1981. Both SFAS 14 and IAS 14 were revised to make segment reporting more informative. SFAS 14 was revised by the FASB with the issue of SFAS 131 in 1997, whereas IAS 14 was revised in 1998. Now, several countries through the standards issued by their respective national institutions have made the segment reporting mandatory. AS 17 in India mandates listed and other companies to report their financial information by segments. The present case study highlights the segment reporting of Tata Consultancy Services (TCS). How the critical analysis of segment reporting is carried out and how it is useful for the external users? This study develops an empirical proxy for the quality of segment reporting from the data in company’s annual reports. Information about an entity’s geographical and business segments is relevant in assessing the risks and returns of a diversified or multinational entity for which such information is often difficult or impossible to determine from aggregated data.

The State of Segment Reporting by US Public Entities: 1976-2017

2020 ◽  
Author(s):  
Christine A. Botosan ◽  
Adrienna Huffman ◽  
Mary Harris Stanford
Keyword(s):  
Accounting Standards ◽  
Financial Accounting ◽  
Data Driven ◽  
Financial Accounting Standards Board ◽  
Segment Reporting ◽  
Depth Data ◽  
Sfas 131 ◽  
The Stability ◽  
Segment Disclosures ◽  
Over Time

This paper offers an in-depth data driven overview of the history and status as of 2017 of segment reporting by public entities trading in U.S. capital markets. Our analysis focuses on the perceived issues identified in the Financial Accounting Standards Board (FASB) 2016 Invitation to Comment on FASB's Agenda - the extent of disaggregation into reportable segments, the stability of segmentation over time, the line-items disclosed, and the reconciliation of segment to consolidated totals. We document the trends in and status of segment reporting as of 2017 as another round of efforts to improve segment reporting proceeds. The paper concludes with a discussion of several unanswered questions suggested by the data. Keywords: Segment disclosures, SFAS 131, SFAS 14, ASC 280.

scholarly journals Accounting Records Using the Android Application to Evaluate Changes in Earnings

2020 ◽  
Vol 10 (2) ◽  
pp. 132-147
Author(s):  
Avincennia Vindy Fitrinana ◽  
Indra Wijaya ◽  
Chita Oktapriana
Keyword(s):  
Small And Medium Enterprises ◽  
Case Study Research ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Eligibility Criteria ◽  
The Difference ◽  
Quantitative Descriptive ◽  
Feasibility Test ◽  
Medium Enterprises

The purpose of this research is to test the difference in the logging of profit conducted by Micro, Small, and Medium Enterprises (MSME) with the recording in accordance with accounting standards and to test the feasibility of Akuntansi UKM application in the implementation in MSME business. The respondents of this research are the MSME in Bekasi City under the Dinas Koperasi dan UKM. There were 40 respondents in this study. This research is a case study research and uses quantitative descriptive methods. Data analysis Using test paired t-test and application feasibility test using PIECES. The results of this research are there is a difference between the average profit that has been recorded by the respondents with the profit recorded in accordance with the financial accounting standards, and the Akuntansi UKM application has fulfilled the eligibility criteria so that it can be applied in business actors, especially MSME.

scholarly journals The Steep Rise Of Gift Card Purchases By The Consumer Is Changing The Method Of Accounting And Reporting Of Gift Card Income By Corporate Retailers

2011 ◽  
Vol 6 (4) ◽  
Author(s):  
Carla Feinson
Keyword(s):  
State Legislatures ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Annual Reports ◽  
Financial Accounting Standards Board ◽  
Font Size ◽  
Publicly Traded ◽  
Accounting Disclosures ◽  
Reporting Requirements ◽  
Gift Card

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">The increasing popularity of gift card purchases by consumers and the corresponding increase in gift card sales in the retail industry has triggered changes in accounting disclosures and reporting requirements. The Financial Accounting Standards board, the Security and Exchange Commission and individual state legislatures have all begun to focused their attention on the various issues that are continually coming to the forefront as a result of the continuing rise in gift card transactions. The promulgations of these authoritative bodies have in turn affected the format and wording of the disclosures that are found in the annual reports or SEC filings of publicly held retail companies. An examination of 75 publicly traded retailers not only shows the similarities and differences of how gift card sales have affected disclosures but also how the very nature of gift card contracts and the ramifications of gift card sales has led to so many specific reporting and accounting difficulties.</span></span></p>

scholarly journals Adaptasi Laporan Keuangan Pada Entitas Nonlaba Berdasarkan Isak 35 (Studi Kasus pada Universitas Ibrahimy Sukorejo Situbondo)

2021 ◽  
Vol 21 (02) ◽  
Author(s):  
Imro'atun Shoimah ◽  
Siti Maria Wardayati ◽  
Yosefa Sayekti
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Reports ◽  
Non Profit ◽  
Net Assets ◽  
Double Entry ◽  
The University

This research aims to analyze and adapt the financial reporting of non-profit entities based on Interpretation of Financial Accounting Standards 35 (ISAK 35): concerning the Presentation of Financial Statements for Non-Profit Oriented Entities. Namely the interpretation of the Statement of Financial Accounting Standards 1 (PSAK 1): concerning the Presentation of Financial Statements. For other accounting provisions for non-profit entities, it refers to the Financial Accounting Standards for Entities without Public Accountability (SAK ETAP) and Sharia Accounting Standards (SAS). Qualitative research was conducted with a case study at the University of Ibrahimy Sukorejo Situbondo. The results of this study, it is necessary to change the accrual basis recording method with the double entry system, preparation of adjusting journals to then compilation of financial position reports, comprehensive income reports, changes in net assets reports, cash flow reports and notes on financial reports based on ISAK 35. Adaptation of university financial reports Ibrahimy based on ISAK 35 is carried out by adjusting the required account posts by Ibrahimy University with the accounts stated in the Interpretation of Financial Accounting Standards 35 (ISAK 35)

Characteristics Influencing Perceptions of Accounting Pronouncement Quality

2002 ◽  
Vol 16 (2) ◽  
pp. 137-151 ◽  
Author(s):  
Denton L. Collins ◽  
William R. Pasewark ◽  
Jerry R. Strawser
Keyword(s):  
Capital Markets ◽  
Accounting Standards ◽  
Previous Literature ◽  
Financial Information ◽  
Financial Accounting ◽  
Financial Accounting Standards Board

Effective capital markets rely on financial information mandated by highquality accounting pronouncements. This study identifies characteristics associated with the quality of pronouncements issued by the Financial Accounting Standards Board (FASB). We relate pronouncement qualities described in previous literature directly to comments on actual pronouncements made by respondents familiar with pronouncement use. Our review of previous literature suggests that desirable or normative characteristics of accounting pronouncements can be categorized as informational, operational, and formational in nature. We find that informational characteristics tend to dominate FASB constituents' explanations of their rankings of the best and worst accounting pronouncements, with operational and formational characteristics carrying relatively larger weights in the rankings of worst pronouncements.

scholarly journals An analysis of fundamental concepts in the conceptual framework using ontology technologies

2014 ◽  
Vol 17 (4) ◽  
pp. 396-411 ◽  
Author(s):  
Marthinus Cornelius Gerber ◽  
Aurona Jacoba Gerber ◽  
Alta Van der Merwe
Keyword(s):  
Conceptual Framework ◽  
Financial Reporting ◽  
Formal Language ◽  
Design Science ◽  
Accounting Standards ◽  
Science Research ◽  
Financial Accounting ◽  
Financial Accounting Standards Board ◽  
Reporting Practices ◽  
Financial Reporting Standards

The interpretation of financial data obtained from the accounting process for reporting purposes is regulated by financial accounting standards (FAS). The history and mechanisms used for the development of ʻThe Conceptual Framework for Financial Reporting’ (the Conceptual Framework) as well as the financial accounting standards resulted in impressive volumes of material that guides modern financial reporting practices, but unfortunately, as is often the case with textual manuscripts, it contains descriptions that are vague, inconsistent or ambiguous. As part of the on-going initiatives to improve International Financial Reporting Standards (IFRS), the International Accounting Standards Board (IASB) promotes the development of principle-based IFRS, which aim to address the problems of vagueness, inconsistency and ambiguity. This paper reports on the findings of a design science research (DSR) project that, as artefact, developed a first version ontology-based formal language representing the definitions of asset, liability and equity (the fundamental elements of the statement of financial position as defined in the Conceptual Framework) through the application of knowledge representation (ontology) techniques as used within computing. We suggest that this artefact may assist with addressing vagueness, inconsistencies and ambiguities within the definitions of the Conceptual Framework. Based on our findings, we include suggestions for the further development of a formal language and approach to assist the formulation of the Conceptual Framework. The project focuses on the Conceptual Framework for Financial Reporting after the incorporation of Phase A in the convergence project between the Financial Accounting Standards Board (FASB) and IASB.

scholarly journals Application of MFRS 141: Insights from Financial Statements of Companies in Malaysia

2019 ◽  
Vol 1 (2) ◽  
pp. 59-68
Author(s):  
Siti Nurizzati Jamil ◽  
Shahnaz Ismail ◽  
Akmalia Mohamad Arif
Keyword(s):  
Descriptive Analysis ◽  
Accounting Standards ◽  
Financial Statements ◽  
Fair Value ◽  
Annual Reports ◽  
Historical Cost ◽  
Reporting Practices ◽  
Corporate Reporting

This study examined biological asset information that has been reported by companies in Malaysia and the methods of valuation used in reporting the biological assets. It aimed to provide useful information to the regulators about the application of MFRS 141, the accounting standards for agriculture, in corporate reporting. This study employed the data derived from the 2016 annual reports of plantation companies listed on Bursa Malaysia. Descriptive analysis was used to examine the biological asset information that has been reported and the characteristics of the companies such as age, size, and leverage. The results of this study showed that most of the plantation companies believed that fair value and historical cost could be the best way to measure their biological assets. The findings of this study provide input towards identifying the gap in corporate reporting practices and the challenges faced by companies in the application of MFRS 141. The findings are expected to contribute to the regulatory improvement towards increasing the full adoption of MFRS 141 by companies in Malaysia.

scholarly journals A review of accounting developments in Africa

2021 ◽  
Vol 12 (01) ◽  
Author(s):  
Ian Wise ◽  
Keyword(s):  
Accounting Standards ◽  
Developing Nations ◽  
Financial Information ◽  
Financial Accounting ◽  
Current Status ◽  
Institutions Of Higher Education ◽  
Accounting Profession ◽  
African Countries ◽  
The Status ◽  
Developed World

Entities in the developing nations of Africa, just like other entities in the developed world need to demonstrate good stewardship in order to attract and retain investment. This means that African countries need a robust accounting infrastructure to deliver reliable and comparable financial information. This paper reviews the current status of accounting in Africa, by looking at the structure of the accounting profession, oversight of accounting entities, currency and monetary control, the status of adoption of International Financial Accounting Standards, the level of accounting research in Africa, and developments in accounting pedagogy at African institutions of higher education. This overview is intended to provide a baseline from which future researchers can develop further investigations into the accounting profession across the continent or a region of Africa.

scholarly journals The effect of CEOs’ characteristics on forward-looking information

2017 ◽  
Vol 18 (4) ◽  
pp. 402-424 ◽  
Author(s):  
Rateb Alqatamin ◽  
Zakaria Ali Aribi ◽  
Thankom Arun
Keyword(s):  
Random Effect ◽  
Negative Relationship ◽  
Financial Information ◽  
Annual Reports ◽  
Content Type ◽  
Reporting Practices ◽  
Ceo Age ◽  
The Relationship ◽  
Ceo Characteristics ◽  
Forward Looking

Purpose The purpose of this paper is to investigate the effect of CEOs’ characteristics on the level of forward-looking information (FLI) disclosure. In particular, the study examines the effect of CEO age, gender and overconfidence on the disclosure of FLI in Jordan firms. Design/methodology/approach The study uses a disclosure index to measure the level of FLI disclosure and employs random-effect and panel data regressions to examine the relationship between CEOs’ characteristics and the level of FLI disclosure. The sample consists of 201 non-financial companies listed on the Amman Stock Exchange for the period 2008-2013. Findings The results of the study show that the CEO age has a significant negative relationship with the level of FLI disclosure in annual reports of non-financial Jordanian companies, whereas gender and overconfidence have a significant positive association with FLI disclosure. Research limitations/implications The single country context limits the generalisability of the findings. Practical implications The results of the study could be beneficial for the users of financial information, such as regulators, investors, auditors and lenders. These users might consider the findings of the study when they are using a company’s financial information. Accordingly, they may seek to extend the investigations and verify such reporting practices and consequently make better decisions. In addition, the findings provide empirical evidence that helps managers in assessing their financial transparency and accountability. Originality/value The relationship between CEO’s characteristics and the level of FLI disclosure is still ambiguous. This study contributes to the FLI disclosure literature by identifying the role of CEO characteristics on the level of FLI disclosure. Thus, it offers evidence that the level of FLI disclosure is driven by specific CEO characteristics.

Measuring Reporting Practices After Harmonization And Conversion Of IFRS In India And Kenya Corporates

GIS Business ◽  
2020 ◽  
Vol 15 (1) ◽  
pp. 395-403
Author(s):  
Enock M. Maina ◽  
Vineet Chouhan ◽  
Shubham Goswami
Keyword(s):  
Regression Analysis ◽  
Multiple Regression Analysis ◽  
Multiple Regression ◽  
Accounting Standards ◽  
Financial Information ◽  
Simple System ◽  
Reporting Practices ◽  
Economic Decisions

Accounting is the system of recording, classifying and summarizing financial information in such a way that users of the information can make economic decisions based upon it. Accounting began as a simple system of clay tokens to keep track of goods and animals, but has developed throughout history into a way of keeping track of complex transactions and other financial information.The study includes 457 total respondents that include 240 from Kenya and 217 from India.The results of multiple regression analysis revealed the Predictors including Har_conv_2, Har_conv_3, Har_conv_5, Har_conv_6 and Har_conv_14 as predicting Harmonization and conversion of accounting standards

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