scholarly journals ICPC 14: what is missing?

2017 ◽  
Vol 28 (75) ◽  
pp. 478-485
Author(s):  
Ariovaldo dos Santos ◽  
Paola R. Londero
Keyword(s):  
Accounting Standards ◽  
Present Value ◽  
Reliable Representation ◽  
Net Equity ◽  
One Year

ABSTRACT The purpose of this study is to raise questions about Technical Interpretation 14 (ICPC 14) from the Accounting Standards Committee with regards to the statutory characteristics of Brazilian cooperative societies. We do not aim to provide definitive solutions by exhausting all conceptual analyses and accounting alternatives involving the reclassification of member shares, or “quotas”, from net equity to liabilities, but rather to present some considerations with regards to points that are not explicit in ICPC 14. Applying the concept of adjustment to present value (APV) is the main point of this study, which was not taken into account when ICPC 14 was elaborated. Analysis of the statutes of cooperatives indicates, as a common characteristic, the obligation to always pay the redemption of members’ quotas in a period of more than one year, and this leads us to conclude that for a reliable representation of the phenomenon it is necessary to recognize the APV of this reclassified liability.

scholarly journals The FASBs Concepts Statement On Cash Flows And Present Value

2011 ◽  
Vol 19 (4) ◽  
Author(s):  
Stanley Martens ◽  
Thomas Berry
Keyword(s):  
Cash Flow ◽  
Accounting Standards ◽  
Fair Value ◽  
Cash Flows ◽  
Financial Accounting ◽  
Financial Accounting Standards Board ◽  
Present Value ◽  
Numerical Examples ◽  
Flow Information

In February 2000, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Concepts No. 7, Using Cash Flow Information and Present Value in Accounting Measurements.  In this document the FASB asserts without proof that a present value computation along its lines will provide a good estimate of the fair value of an asset or liability.  Using numerical examples provided by the FASB, we attempt to construct arguments in support of the FASB’s claim.  We find that such arguments require strong and not at all obvious assumptions about players in hypothetical markets.

scholarly journals The Applicability of International Standards for Long-Term Leases through the Iraqi Government Accounting System

2019 ◽  
Vol 54 (6) ◽  
Author(s):  
Sattar Gaber Khallawy ◽  
Hagar Khadim Mohsen
Keyword(s):  
Accounting Standards ◽  
International Standards ◽  
International Accounting ◽  
Accounting System ◽  
International Accounting Standards ◽  
Government Accounting ◽  
Needed Information ◽  
The Government ◽  
One Year

The research highlights the long-term leases according to the international accounting standards in public sector within the economic units that apply the government accounting system. The long-term lease is a lease that has a framework of terms and conditions ratified between two persons; or it is a group of agreements which the two parties of the contract (lessor and lessee) are committed by. The lease is usually valid for over one year. The international accounting standards name several treatments in the lessor registry in order to get suitable measurement and disclosure of the users’ needed information and the statement of financial position of the economic unit. Measurements are one of the most important operations that facilitate accessing to reliable data; disclosure is the most significant operator in validity and accuracy of information about the building that is provided to the users.

scholarly journals IPTEKS PERLAKUAN AKUNTANSI TERHADAP PENGUKURAN ASET TETAP PADA KANTOR LURAH KLEAK

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Reinhard Valen Ipu ◽  
Sherly Pinatik
Keyword(s):  
Accounting Standards ◽  
Financial Accounting ◽  
Tangible Assets ◽  
Fixed Assets ◽  
Useful Life ◽  
Operational Activities ◽  
One Year ◽  
The Village ◽  
Office Equipment

Fixed assets are tangible assets owned by the company or agency in question not for sale, but to assist the operational activities of an agency and have a useful life of more than one year. The kleak village office has several supporting factors in conducting operational activities, one of which in the form of office equipment. This study aims to determine wherher the village office has measured fixed assets based on applicable financial accounting standards. Based on the data that the author obtained it can seen that the village office has not measured fixed assets in accordance with PSAK No. 16.Keywords : Measurement of fixed assets, PSAK No. 16

scholarly journals Is Capitalization of Operating Lease Way to Increase of Comparability of Financial Statements Prepared in Accordance with IFRS and US GAAP?

2015 ◽  
Vol 63 (2) ◽  
pp. 507-514
Author(s):  
Hana Bohušová
Keyword(s):  
Financial Analysis ◽  
Negative Impact ◽  
Stock Exchange ◽  
Accounting Standards ◽  
Financial Statements ◽  
Common Effort ◽  
One Year ◽  
Lease Contracts ◽  
The Impact ◽  
Us Gaap

The paper is concerned with an evaluation of possibilities of companies using operating lease and prepared financial statements under IFRS or US GAAP comparison. The data of non-financial companies listed on the Prague Stock Exchange and reporting information on operating lease in accordance with IAS 17 are used. The study presents the impact of operating lease capitalization on companies’ financial statements and financial analysis ratios. The results show a negative impact of operating lease capitalization on financial analysis ratios. The study was motivated by a common effort of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) to develop the common standard for Lease reporting. In 2013, a joint exposure dra of standard (ED2013/6) Leases was published. Under the new standard, it is required to capitalize all lease agreements over one year. The distinction between operating leases and finance leases should not exist anymore. The study was carried out to demonstrate the potential impact resulting from the proposed adoption of the new accounting standard concerning mandatory capitalization of all lease contracts.

Међузависност додате економске вредности, нето садашње вредности и тржишне вредности предузећа // Interdependence of Economic Value Added, Net Present Value and Market Value of a Company

2018 ◽  
Vol 13 (22) ◽  
pp. 53
Author(s):  
Милорад Иванишевић
Keyword(s):  
Net Present Value ◽  
Economic Value ◽  
Value Added ◽  
Market Value ◽  
Company Performance ◽  
Economic Value Added ◽  
Present Value ◽  
Market Value Added ◽  
One Year ◽  
A Company

Резиме: У чланку се најпре разматра додата економска вредност као метод за мерење перформанси предузећа у временским интервалима од годину дана. Затим се расправља о додатој тржишној вредности као разлици између тржишне вредности предузећа и вредности инвестираног капитала. После тога се објашњава међузависност додате економске вредности и додате тржишне вредности. На крају се показује да постоји повезаност нето садашње вредности као метода за оцену рентабилности инвестиција и тржишне вредности предузећа.Summary: Economic value added as a method for company performance measurement for time periods of one year is firstly analyzed in the paper. After that we discuss market value added as a difference between company market value and value of invested capital. Then the interdependence between economic value added and market value added is explained. Finally, we point out that there is relationship between net present value as a method for investment rentability evaluation and company market value.

The Pricing of Realized Tax Benefits from NOL Carryforwards: Effect of Income Statement Presentation

2008 ◽  
Vol 30 (1) ◽  
pp. 1-27 ◽  
Author(s):  
T. J. Atwood ◽  
J. Kenneth Reynolds
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Income Taxes ◽  
Financial Accounting ◽  
Separate Section ◽  
Income Statement ◽  
Tax Benefits ◽  
One Year ◽  
Tax Expense

ABSTRACT: We examine the pricing of realized tax benefits from net operating loss (NOL) carryforwards across income statement presentations. During the period 1987 through 1992, firms adopting SFAS No. 96 reported these tax benefits as part of income before extraordinary items (via a reduced provision for income tax expense), while non-adopting firms reported these benefits as extraordinary income items under APB No. 11. We provide evidence that NOL tax benefits were priced rationally when reported as extraordinary income items under APB No. 11; however, NOL tax benefits were overpriced, relative to their one-year-ahead persistence, when included in income before extraordinary items under SFAS No. 96. Our results suggest that the rational pricing of income tax information is affected by its presentation in the income statement, despite the clear reporting of sufficient additional details in the footnotes. Our findings provide support for the Financial Accounting Standards Board’s tentative decision to report income taxes in a separate section of the income statement.

Amortized Cost for Operating Lease Assets

2012 ◽  
Vol 27 (1) ◽  
pp. 51-74 ◽  
Author(s):  
Ross Jennings ◽  
Ana Marques
Keyword(s):  
Accounting Standards ◽  
Cash Flows ◽  
Data Availability ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Present Value ◽  
Financial Ratio ◽  
Straight Line ◽  
Operating Leases

SYNOPSIS: A proposed accounting standard issued jointly by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) would require firms to recognize many more lease assets than are currently required and to amortize those assets on a straight-line basis. A number of respondents to the exposure draft argue that the “front-loading” of lease expense resulting from straight-line amortization would not reflect the economics of the lease assets. This study compares straight-line amortization with the most-often cited alternative, present value amortization. First, we illustrate by example that under stylized conditions, present value amortization provides information that more faithfully represents the future cash flows of lease assets than straight-line amortization. Second, for a large subset of firms that are more likely to conform to the stylized conditions in our example, we find that investors value those firms as though the lease assets are capitalized and amortized on a present value basis. Finally, we find that financial ratio comparability is substantially increased when operating leases are constructively capitalized and amortized using straight-line amortization, and further increased when using present value amortization. Taken together, these results provide no evidence for favoring straight-line amortization over present value amortization as the default method for amortizing capitalized operating leases. Data Availability: Data used in this paper are publicly available.

scholarly journals IPTEKS PERHITUNGAN PENYUSUTAN AKTIVA TETAP MENURUT STANDAR AKUNTANSI KEUANGAN PADA PT. MASSINDO SINAR PRATAMA MANADO

2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Yuvita M. F Goni ◽  
Novi Swandari Budiarso
Keyword(s):  
Accounting Standards ◽  
Balance Method ◽  
Financial Accounting ◽  
Line Method ◽  
Straight Line ◽  
Tangible Assets ◽  
Fixed Assets ◽  
Useful Life ◽  
One Year ◽  
Straight Line Method

Fixed assets are tangible assets acquired in ready to use or built first, used in the company operations, not intended for sale in the framework of the normal activities of the company and has a useful life more than one year. Depreciation is the process of allocation of the acquisition cost into the applicable cost of deductions in calculating profit. Calculation of depreciation fixed assets according to financial accounting standards using five methods: the straight-line method, declining balance method, sum of the years digit method, service hours method, and the unit of productions method. The purpose of this study was determine the application of methods of depreciation fixed assets according to financial accounting standards in PT. Massindo Sinar Pratama Manado. The applied ipteks method is the calculation of depreciation of fixed assets in accordance with financial accounting standards. The result showed the company uses the straight line method and the declining balance method in calculating depreciation of its fixed assets. PT. Massindo Sinar Pratama Manado should not only perform depreciation calculations in accordance with financial accounting standards but also must be in accordance with the provisions of taxation in order not to need to be done fiscal correction. Keywords : depreciation, fixed assets, financial accounting standards

Pengaruh Aspek-Aspek Manajemen Keuangan Daerah Terhadap Transparansi Pengelolaan Keuangan Daerah

2017 ◽  
Vol 25 (2) ◽  
pp. 161-175
Author(s):  
Dominikus Ledo ◽  
Sri Ayem
Keyword(s):  
Internal Control ◽  
Financial Management ◽  
Accounting Standards ◽  
Financial Statement ◽  
Accounting Standard ◽  
Governmental Accounting ◽  
Government Accounting ◽  
One Year ◽  
The City ◽  
Control Implementation

This research aimed to test the effect of regional financial statement presentation, accessibility regional financial statement, internal control, implementation of performance-based budgeting, and implementatiton of accrual-based government accounting standard on the transparency of regional financial management. Data in this research obtained by method of survey with questionnaires. The population in this research is all employees in the SKPD city of Yogyakarta.The technique of sampling using nonprobability sampling method of purposive sampling.The sample in this research is the structural officers, employees/staff that carry out the functions of accounting/administration financial experience working for one year in each SKPD in the city of Yogyakarta.The questionnaire can be processed a total of 77 questionnaires. Data analysis techniques in this study using the technique of multiple linear regression.The results of regression test showed thatthe regional financial statement presentation no significant effect on the transparency of regional financial management.The accessibility of the regional financial statements significant effect on the transparency of regional financial management. Internal control no significant effect on the transparency of regional financial management.The implementation of performance-based budgeting no significant effect on the transparency of regional financial management. The implementation of accrual-based government accounting standards significant effect on the transparency of regional financial management.Keyword: presentationof regional financial statement, accessibility, internal control, performance-based budgeting, the governmental accounting standards accrual-based, transparency of regional financial management.

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