Financial statement analysis

2019 ◽  
Author(s):  
Мария Вахрушина ◽  
Mariya Vakhrushina ◽  
Ольга Антонова ◽  
Ol'ga Antonova ◽  
Марина Друцкая ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Public Information ◽  
Accounting Standards ◽  
Financial Statements ◽  
Legal Framework ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Integrated Reporting ◽  
Financial Reporting Standards ◽  
The Impact

The textbook presents the basic theoretical, methodological and practical provisions of the discipline "Analysis of financial statements" in accordance with the state educational standard of higher education for the preparation of students in the direction of "Accounting, analysis and audit". The issues of analysis and evaluation of the financial situation and performance of the organization using practical data of individual and consolidated financial statements, statistical and tax reporting. The algorithms and practical calculations of analytical indicators are based on the principle of "through example". The textbook takes into account changes in the legal framework - the development of Federal accounting standards (FSBU). Federal law No. 160-FZ of 18 July 2017 clarifies the status of accounting regulations (PBU). PBU approved by the Ministry of Finance of Russia in the period from October 1, 1998 to January 1, 2013 are recognized as Federal accounting standards. At the same time a number of PBU changes. The textbook reflects the impact of legislative changes on the preparation and analysis of financial statements. The influence of international approaches to the disclosure of public information on the Russian practice of its presentation continues to grow. The textbook describes the changes in International financial reporting standards, taking into account their impact on the presentation and analysis of financial statements. The influence of international approaches to the disclosure of public information on the Russian practice of its presentation continues to grow. The textbook describes the changes in International financial reporting standards, taking into account their impact on the presentation and analysis of financial statements. Taking into account the strengthening of the position of integrated reporting in ensuring sustainable development of economic entities radically revised section of the textbook on the practice of its analysis. For students, postgraduates, teachers of economic specialties, students of the system of training and advanced training of accountants, auditors, specialists of financial and economic services.

Research of Estimated Liabilities During the Audit of Accounting (Financial) Statements

Auditor ◽  
2021 ◽  
pp. 33-39
Author(s):  
N. Loseva
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards

The article discusses the estimated liabilities, their study and assessment in accordance with the provisions of Russian accounting standards (RAS) and International Financial Reporting Standards (IFRS).

scholarly journals The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards

2019 ◽  
Vol 2019 (101 (157)) ◽  
pp. 111-132 ◽  
Author(s):  
Jerzy Gierusz ◽  
Katarzyna Koleśnik
Keyword(s):  
Financial Reporting ◽  
Comparative Studies ◽  
Financial Statements ◽  
Arab Countries ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Financial Disclosures ◽  
The Impact

The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.

Empirical Study on the Effect of Adopting the International Financial Reporting Standards (IFRS) on the Quality of Earnings using Beneish Model in a Sample of Banks Listed in the Iraqi Stock Exchange

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Zahraa Nasser Ali ◽  
Hakeem Hammood Flayyih
Keyword(s):  
Financial Reporting ◽  
Commercial Banks ◽  
Stock Exchange ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Global Capital ◽  
Financial Reporting Standards ◽  
The Impact

The need for international financial reporting standards (IFRS) emerged due to the increasing degree of interdependence between global capital markets and the need for investors to obtain reliable and honest financial information in expressing economic events, in order to find a common financial language, and this is what IFRS provide. Nevertheless, the research aimed to measure the impact of the adoption of IFRS on the quality of earnings in the Iraqi banks listed in the Iraqi Stock Exchange for a sample of 30 banks. The Beneish model was used to measure the quality of earnings, while Mann-Whitney was used to measure and prove the hypothesis of the research. However, the research reached a set of conclusions, including that although the IFRS should contribute to improving the quality of financial reporting, the adoption of these standards in commercial banks listed in the Iraq Stock Exchange did not contribute to achieving quality in earnings even after adopting those standards. Furthermore, a Beneish model is an important tool for auditors, financial analysts, investors, and creditors who have the ability to understand the financial statements or those who have a reasonable understanding of the nature of those financial statements in measuring the quality of earnings, because it is a simple and easy to implement tool.

Implementation of foreign practice of regulation and accounting and reporting in Russia

2020 ◽  
pp. 215-222
Author(s):  
N. Yu. Orlova
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
National Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Tax Reporting ◽  
International Comparability

The reform of accounting and reporting in Russia began in the 1990s. The benchmark was taken on International Financial Reporting Standards, as many countries use these standards. IFRS have a number of advantages, such as simplicity, objectivity, international comparability. The author of the article gives the main problems, as a result of which, for almost thirty years, national standards have come very slightly closer to international ones. The author of the article gives the main problems, as a result of which, for almost thirty years, national standards have come very slightly closer to international ones. In the comparative analysis of accounting and the preparation of accounting and tax reporting according to Russian Accounting Standards (RAS) with International Financial Reporting Standards (IFRS), fundamental differences were revealed in the reflection of accounting objects in financial statements.

Response to the SEC’s Proposed Rule—Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) by U.S. Issuers

2010 ◽  
Vol 24 (1) ◽  
pp. 117-128 ◽  
Author(s):  
Mark Bradshaw ◽  
Carolyn Callahan ◽  
Jack Ciesielski ◽  
Elizabeth A. Gordon ◽  
Leslie Hodder ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Accounting Standards Board ◽  
Financial Reporting Standards ◽  
Near Term ◽  
Potential Use

SYNOPSIS: The Financial Reporting Policy Committee of the Financial Accounting and Reporting Section of the American Accounting Association (hereafter, the AAA FRPC or the committee) is charged with responding to discussion memoranda and exposure drafts on financial accounting and reporting issues. This response is to the SEC’s proposed rule, Roadmap for the Potential Use of Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) by U.S. Issuers. Based on a review of the literature, the AAA FRPC has concluded that a move to an international set of financial reporting standards is a desirable goal. We have also concluded that continued convergence of U.S. GAAP with IFRS by joint relations between the International Accounting Standards Board (hereafter, IASB) and the Financial Accounting Standards Board (hereafter, FASB) is preferable to near-term adoption of IFRS as a strategy for convergence.

scholarly journals Continued Impact of International Financial Reporting Standards on U.S. Generally Accepted Accounting Principles

2020 ◽  
pp. 1-12
Author(s):  
Sylwia Gornik-Tomaszewski ◽  
Victoria Shoaf
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Accounting Principles ◽  
Value Measurement ◽  
The Impact

The milestone outcomes of over a decade of close cooperation between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on the convergence of U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) have been highly publicized in the professional media. Great attention has been paid to such joint FASB and IASB projects as accounting for business combinations, fair value measurement, and revenue recognition. The impact of U.S. GAAP on IFRS has also been discussed and highlighted in many professional and academic resources. It should come as no surprise since FASB is considered a world leader in creating high-quality standards through an exemplary standard-setting process. In this paper, we look at the least noticed outcome of the convergence process: the impact of IFRS on U.S. GAAP. We reviewed all of the Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification®, from the first issued in June 2009 to 2016, and listed instances where U.S. GAAP was significantly modified to reflect international solutions. These examples of U.S. GAAP modifications indicate that the impact of IFRS on U.S. GAAP continued well after the bilateral cooperation between FASB and IASB effectively ended in 2014. Furthermore, look at the most recent FASB pronouncement let us conclude that the FASB continues to be engaged in seeking comparable global accounting solutions.

scholarly journals First time adoption of IFRS 15 “Revenue from contracts with customers“: the case of Lithuanian listed companies

2020 ◽  
Vol 21 ◽  
pp. 2
Author(s):  
Darius Vaicekauskas
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Listed Companies ◽  
Economic Benefits ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Revenue Recognition ◽  
Financial Reporting Standards ◽  
The Impact ◽  
First Time

 Revenue accounting is one of the most important areas of financial accounting. Revenue is one of the key absolute financial ratios that reflects the economic benefits generated by entities that result in increased shareholders‘ equity. This article investigates the first time adoption of new IFRS 15 “Revenue from contracts with customers“ which in International financial reporting standards (hereinafter – IFRS) system is mandatory to apply starting from 1 January 2018. The new IFRS 15 supersedes the previous international accounting standards regulating revenue recognition and introduces a conceptual 5-step revenue recognition model. The purpose of this article is to evaluate the impact of the first-time adoption of IFRS 15 “Revenue from contracts with customers“ on the financial statements of Lithuanian listed companies. This purpose is achieved while using the following research methods: analysis of International financial reporting standards (IFRS) and scientific literature, as well as analysis of the content of financial statements. An empirical study revealed that the first-time adoption of IFRS 15 had no material impact on the financial statements of Lithuanian listed companies. Most of the companies surveyed applied the standard using a simplified retrospective modified method and did not pay much attention to the disclosure of first-time adoption. For those affected by the standard, the effect was mostly notable in the following areas: reclassifications of commissions and brokerage fees, changes in revenue recognition principles from the revenue recognition over a time to revenue recognition at specific point in time and vice versa.

Necessity And Main Directions Of Improving Financial Reporting In Uzbekistan

2021 ◽  
Vol 03 (05) ◽  
pp. 61-67
Author(s):  
Boronov Bobur Farkhodovich ◽  
◽  
Abdurasulov Jamshidbek Ahmad Ugli ◽  
◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Instruments ◽  
National Accounting ◽  
Financial Reporting Standards ◽  
Accounting Rules

The article highlights the need to improve financial reporting, the regulations adopted in Uzbekistan in this regard. The purpose of the concept required for the transition to International Financial Reporting Standards (IFRS) in Uzbekistan and the tasks to be included in it have been developed, a series of national accounting standards are presented. It was noted that today the standards for financial instruments need to be improved. For the transition to IFRS, the terms related to the information reflected in the financial statements are given. The work to be done in Uzbekistan to introduce the terms and accounting rules for the information reflected in the financial statements.

scholarly journals Financial Statement according to National or International Financial Reporting Standards? A Decision Analysis Case Study from the Czech Republic at Industrial Companies

2020 ◽  
Vol 31 (3) ◽  
pp. 270-281
Author(s):  
Michal Krajňák
Keyword(s):  
Czech Republic ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
The Czech Republic ◽  
National Accounting ◽  
Financial Reporting Standards ◽  
Industrial Companies

Financial statements bring information about financial position, performance and changes in financial performance. These statements could be prepared in accordance with national accounting standards or in accordance with International Financial Reporting Standards. The scientific problem is to assess whether it is more beneficial to prepare financial statements according to national, transnational or both national and transnational accounting standards. Results show that it is more convenient to prepare financial statements only according to the legislation of national accounting standards. The advantage of this option is lower costs. However, the second best option, based on preparing financial statements according to International Financial Reporting standards, leads to higher quality, credibility and comparison of these statements. Options based on the gradual convergence of transnational and national accounting standards also do not represent an ideal situation. The utility of options is influenced by many criteria. The most important criterion according to the questionnaire survey is costs. The questionnaire survey was carried out in the year 2018 among 28 industrial companies in the selected region of the Czech Republic. The methods of description, analysis, synthesis, comparison and selected methods of multi-criteria decision-making are used in the article.

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