scholarly journals NCP 5 – Tangible Fixed Assets

2021 ◽  
Vol 8 (9) ◽  
pp. 133-144
Author(s):  
Adalmiro Andrade Pereira
Keyword(s):  
Content Analysis ◽  
Accounting Standards ◽  
September 11 ◽  
International Accounting ◽  
International Accounting Standards ◽  
Practical Application ◽  
Public Accounting ◽  
Accounting Standard ◽  
Fixed Assets

2015 saw an important step in the accounting reform in Portugal. On September 11, 2015, the Accounting Standardization System for Public Administrations (SNC-AP) was approved through Decree-Law No. 192/2015, which revokes the Official Public Accounting Plan (POCP) and establishes an accounting standard aligned with international accounting standards. The development of this work is based on content analysis focused on Public Accounting Standard 5, NCP 5, which was broken down into the respective chapters of the regulations. In this way, to reach the objective of the study, work was developed on several themes, which are essentially based on the chapters of NCP 5. In this way, the topics covered are: Objectives, Scope and Definitions, Measurement, Recognition and Derecognition; and, in order to better contextualize and exemplify the practical application of the standard, we will find, at the end of this work, some practical situations.

scholarly journals Portuguese Public Accounting Standard Number 5- Tanglble Fixed Assets the Standard And Its Application

2020 ◽  
Vol 8 (08) ◽  
pp. 6111-6120
Author(s):  
Filipa Manuel da Silva Santos Baptista da Costa ◽  
Adalmiro Pereira ◽  
Ângela Daniela da Silva Vaz
Keyword(s):  
Public Sector ◽  
Accounting Standards ◽  
International Accounting ◽  
Public Accounting ◽  
Accounting Standard ◽  
The Public ◽  
Main Application ◽  
Fixed Assets

The new Accounting Standards in Portugal for the Public Sector, were create in a line of the IAS – International Accounting Standards.This work is about the study of the Standard 5 about the Tangible Fixed Assets. We intend to present the main points, about recognition, measure and publish of facts related with the Standard.We finish with the presentation of some practical examples, intending to show the main application of the Standard.

scholarly journals Extent of Commitment of Accountants in Lebanon to Implementing the International Accounting Standard 16: Property, Plant and Equipment (An Empirical Study)

2020 ◽  
Vol 5 (1) ◽  
pp. p38
Author(s):  
Maysa Ayoub ◽  
Dr. Hasan El-Mousawi
Keyword(s):  
Empirical Study ◽  
Analytical Approach ◽  
Statistical Significance ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Certified Public Accountants ◽  
Accounting Standard ◽  
Fixed Assets ◽  
International Accounting Standard

Tangible fixed assets are fundamental to the organization; thus, the International Accounting Standards Board (IASB) issued International Accounting Standard 16, (IAS 16—Property, Land and Equipment), which includes regulations that organize the recognition, measurement and disclosure of those assets. Later versions of the standard improved and updated the standard. The research aims at studying the extent of commitment of Lebanese accountants to implementing IAS 16. The researchers used a descriptive, analytical approach to tackle their topic. A well-structured five-point Likert style questionnaire was used to collect data. The samples were all members of the Lebanese Association of Certified Public Accountants (LACPA). The results of the study showed a difference of statistical significance within the opinions of the study samples about the extent of commitment of LACPA members to applying IAS 16. The research reached that accountants in Lebanon apply only some items of IAS 16, which the research tool specified. The researchers had some recommendations based on the findings of the research.

THE EVOLUTION OF THE RELATIONSHIP BETWEEN THE US FINANCIAL ACCOUNTING STANDARDS BOARD AND THE INTERNATIONAL ACCOUNTING STANDARD SETTERS: 1973–2008

2012 ◽  
Vol 39 (1) ◽  
pp. 1-51 ◽  
Author(s):  
Robert J. Kirsch
Keyword(s):  
Accounting Standards ◽  
Financial Accounting ◽  
Working Relationships ◽  
International Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Accounting Standard ◽  
Staff Members ◽  
The Us ◽  
The Relationship

ABSTRACT Utilizing archival materials as well as personal interviews and correspondence with personnel of the Financial Accounting Standards Board (FASB) and International Accounting Standards Committee/Board (IASC/B), including former Board chairmen and staff members, this paper examines the development of the working relationships between the FASB and the IASC/B from their earliest interactions in 1973 through the transformation of the IASC into the IASB and the Convergence Program rooted in the 2002 Norwalk Agreement up to 2008.

scholarly journals Extent of Commitment of Maritime Companies in Lebanon to Implementing the IAS 16

2020 ◽  
Vol 12 (9) ◽  
pp. 111
Author(s):  
Rani Shakaroun ◽  
Hasan El-Mousawi ◽  
Joumana Younis
Keyword(s):  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Income Statement ◽  
Fixed Assets ◽  
Periodic Maintenance ◽  
Convenient Approach ◽  
Set Up ◽  
International Accounting Standard

The study examined the extent of commitment of maritime companies in Lebanon to implementing the International Accounting Standard (IAS) 16. It aimed at recognizing the extent to which maritime firms in Lebanon apply the International Accounting Standard (IAS) 16 by explaining the financial statements and their features and constituents. A five-point Likert style questionnaire was constructed as a study tool to collect information from the sample that consisted of 70 people who were accountants at maritime companies in Lebanon in addition to auditors of these companies. From the 70 questionnaires distributed, 63 were retrieved. The research concluded that maritime companies in Lebanon apply the IAS 16 in the income statement and the statement of financial position. The researchers recommended that the International Accounting Standards Board (IASB) should set up a clear and coordinated approach to deal with the issue of the periodic maintenance for ships, especially that the IAS 16 did not specify a preferred approach to settle this issue; rather, the IASB left it for the companies to choose the most convenient approach. They also recommended increasing disclosure of Lebanese maritime companies using the procedures followed in determining, depreciating and itemizing fixed assets in the financial statements.

The Case Analysis of Presentation and Disclosure about other Comprehensive Income

2014 ◽  
Vol 687-691 ◽  
pp. 4691-4694
Author(s):  
Xing Wei
Keyword(s):  
Accounting Standards ◽  
Case Analysis ◽  
Financial Statement ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Comprehensive Income ◽  
Other Comprehensive Income ◽  
China National Petroleum Corporation ◽  
Year 2013

This article selects the financial statement established by the CNPC(China National Petroleum Corporation) for the year 2013 according to the Chinese accounting standard for business enterprises as an example, analysis of the problems of presentation and disclosure of other comprehensive income in our country, and contrast and analyze the stipulation about other comprehensive income presentation and disclosure stipulated by the IAS (International Accounting Standards) and FASB statements.

scholarly journals De invloed van het niet of niet volledig waarderen van actieve belastinglatenties op de nettowinst

2016 ◽  
Vol 90 (11) ◽  
pp. 471-485
Author(s):  
Alidus Dannenberg ◽  
Chantal de Bruin ◽  
Peter Epe
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
International Accounting Standard ◽  
International Accounting Standards Board

Actieve belastinglatenties moeten in de jaarrekening worden gewaardeerd tot het bedrag waarvoor het waarschijnlijk is dat voldoende fiscale winst wordt behaald om de actieve belastinglatenties te verrekenen. De vraag is welk effect deze norm van de Raad voor de Jaarverslaggeving (RJ) en de International Accounting Standards Board (IASB) heeft op de gepubliceerde nettowinst van een onderneming. Zo raken tussentijdse op- en afwaarderingen van de actieve belastinglatentie de effectieve belastingdruk en daarmee de nettowinst. Richtlijn 272 en International Accounting Standard (IAS) 12 geven de onderneming de ruimte om de nettowinst te beïnvloeden door het al dan niet volledig tot waardering brengen van actieve belastinglatenties. Dit onderzoek richt zich op de vraag in hoeverre deze situatie invloed heeft op de gepubliceerde nettowinst. De invloed van het al dan niet volledig tot waardering brengen van actieve belastinglatenties op de gepubliceerde nettowinst bedraagt ruim 17%.

scholarly journals PROBLEMS AND SOLUTIONS FOR LEASE VALUATION AND ACCOUNTING IN LATVIA

10.23856/3301 ◽  
2019 ◽  
Vol 33 (2) ◽  
pp. 11-18
Author(s):  
Iluta Arbidane ◽  
Anita Puzule
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Financial Reports ◽  
Problems And Solutions ◽  
The Republic ◽  
International Accounting Standard

In the legislation of the Republic of Latvia, leasing transaction accounting complies with the provisions no. 17 of the International Accounting Standard "Leasing", which expired on January 1, 2019. The problem for the lessee in the accounting of leasing transactions is also the introduction of a new standard for companies that prepare annual financial reports  in accordance with the requirements of international accounting standards. The aim of the study is to examine accounting problems and assess leasing transactions in Latvia and offer solutions. The study examined the justification for the assessment and accounting of leasing transactions in line with international accounting standards and identified issues of assessment and reporting in Latvia, possible solutions to improve the quality of leasing transactions have been worked out, offering necessary changes in legislation and revision of methodological documents.

scholarly journals Balancing of the chosen intangible fixed assets according to the Czech accounting legislation, German accounting systems and international accounting standards

2008 ◽  
Vol 54 (NO. 7) ◽  
pp. 314-321 ◽  
Author(s):  
P. Svoboda
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Systems ◽  
Closing Date ◽  
Convergence Process ◽  
Fixed Assets ◽  
Accounting Units ◽  
Us Gaap

The paper deals with the comparison of intangible fixed assets, especially in the area of determination, evaluation as at the date of the accounting transaction, closing date and possibilities of depreciation according to the Czech accounting legislation, the selected German accounting systems and the international accounting standards IAS/IFRS and US GAAP. An analysis of the selected Czech firms with a varied structure of intangible fixed assets was also performed. The analysis proved that, in spite of the running IAS/IFRS and US GAAP convergence process, there are significant differences in this area, which limit the comparability of financial statements of accounting units. This paper is not concerned in detail with the preference limits and permits for greenhouse gases and intangible assets in acquisition.

scholarly journals Applying the materiality concept: The case of abnormal items

2014 ◽  
Vol 12 (1) ◽  
pp. 428-437
Author(s):  
Robyn Cameron
Keyword(s):  
Accounting Standards ◽  
Theory And Practice ◽  
International Accounting ◽  
International Accounting Standards ◽  
Practical Application ◽  
Financial Reports ◽  
Different Types ◽  
Materiality Thresholds ◽  
Accounting Theory ◽  
Over Time

Materiality is a key concept in accounting theory and practice. Yet differing views exist in regard to the practical application of the materiality concept amongst preparers, auditors, users of financial reports and regulators (ESMA/2011/373). Unlike International Accounting Standards, in Australia AASB 1031 Materiality addresses materiality thresholds. The pre-2000 period, when Australian firms were required to separately disclose abnormal items in their financial reports, provides a unique opportunity to explore how the concept of materiality was applied. Abnormal items were considered abnormal by reason of their size and effect on operating earnings. We investigate whether immaterial or marginally material items were classified as abnormal, and whether materiality thresholds were consistently applied to different types of abnormal items and over time. Findings show almost a quarter (22.94%) of abnormal items were immaterial for which the overall mean was only 2.54% of the baseline earnings before abnormal items. Results are consistent when abnormal items are classified into the four predominant types by which described in financial reports and when further dissected into the forty categories by which they were themed. The outcomes of this analysis inform the current regulatory debate concerning the inclusion of immaterial items in financial reports which may mislead users (FRRP 2013) and the IASB materiality project (2013).

scholarly journals Divulgação de informação sobre os ativos intangíveis: evidência empírica nos bancos em Portugal no período 2001-2009

2013 ◽  
Vol 8 (2) ◽  
Author(s):  
Ana Maria Gomes Rodrigues ◽  
Maria De Lurdes Ribeiro da Silva ◽  
María Del Pilar Muñoz Dueñas
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
International Accounting Standard ◽  
International Accounting Standards Board

A presente investigação tem como principais objetivos analisar a divulgação da informação sobre intangíveis num período de nove anos, nomeadamente, a extensão ou o nível, bem como a sua evolução e as possíveis alterações que nela se verificaram, derivadas da adoção, em 2005, do normativo internacional para efeitos da elaboração das contas consolidadas das entidades bancárias. Através da verificação da divulgação dos ativos intangíveis atendendo aos itens constantes da International Accounting Standard (IAS) 38 do International Accounting Standards Board (IASB), foram analisadas as demonstrações financeiras consolidadas dos dezassete bancos, que apresentaram contas consolidadas em Portugal, ininterruptamente, de 2001 a 2009. Os resultados obtidos através da construção de um índice, elaborado para o efeito, revelaram uma média de divulgação de informação sobre intangíveis de 0,24 no período. O nível de divulgação geral evoluiu de uma média de 0,1940 em 2001 para 0,2778 no ano de 2009. Os intangíveis gerados internamente tiveram uma média de divulgação de 0,1592 e os intangíveis adquiridos a terceiros obtiveram um valor médio de 0,2927. Verificou-se um aumento na extensão da divulgação de intangíveis nas demonstrações financeiras consolidadas dos bancos no período em análise, sendo este acréscimo mais acentuado nos anos de 2005 e 2006, os primeiros anos de adoção em Portugal do normativo internacional endossado pela União Europeia através do Regulamento 1606/2002, de 19 de Julho, as designadas normas IASB-UE.

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