scholarly journals The Expanded Role Of Financial Reporting In Global Markets

2011 ◽  
Vol 7 (3) ◽  
pp. 22
Author(s):  
Gail E. Farrelly
Keyword(s):  
Financial Markets ◽  
Financial Reporting ◽  
Global Economy ◽  
Global Markets ◽  
Professional Judgment ◽  
Present System ◽  
The Subject ◽  
Qualitative Dimension

Financial reporting in global economy is the subject matter of this essay. The present system provides information that is objective past-oriented, technically precise, and quantitative. What is needed for worldwide information demands in financial markets, however, is a system which recognizes the importance of a qualitative dimension and leans toward relevance in the reliability-relevance tradeoff. Long-term profit projections and plans should be highlighted; professional judgment should take precedence over technical precision.

Impact of FII’s and FDI’s on Indian Stock Market

2016 ◽  
Vol 1 (1) ◽  
Author(s):  
Dr. Kamlesh Kumar Shukla
Keyword(s):  
Stock Market ◽  
Financial Markets ◽  
Global Economy ◽  
Short Term ◽  
Earnings Growth ◽  
The Past ◽  
Bull Market ◽  
Indian Stock Market

FIIs are companies registered outside India. In the past four years there has been more than $41 trillion worth of FII funds invested in India. This has been one of the major reasons on the bull market witnessing unprecedented growth with the BSE Sensex rising 221% in absolute terms in this span. The present downfall of the market too is influenced as these FIIs are taking out some of their invested money. Though there is a lot of value in this market and fundamentally there is a lot of upside in it. For long-term value investors, there’s little because for worry but short term traders are adversely getting affected by the role of FIIs are playing at the present. Investors should not panic and should remain invested in sectors where underlying earnings growth has little to do with financial markets or global economy.

Prestige Projects Limited: Challenges in Transitioning to New Accounting Policy

2021 ◽  
Author(s):  
Samir Kumar Barua ◽  
Mahendra R. Gujarathi
Keyword(s):  
Financial Reporting ◽  
Professional Judgment ◽  
Accounting Standard ◽  
Construction Contracts ◽  
Policy Choices ◽  
Accounting Courses ◽  
Business Functions ◽  
Accounting Policy

This case provides an experiential learning opportunity to (a) appreciate the role of professional judgment in accounting policy choices, (b) evaluate the effect of accounting decisions on other business functions, and (c) understand the challenges in transitioning to a new accounting standard. Prestige’s previous auditors were fine with its use of output-based measure (milestones completed) to compute the percentage-of-completion (POC) for its long-term construction contracts. However, the newly appointed auditors recommended Prestige to switch over to input-based measure (costs incurred) to compute POC. Students need to choose the appropriate financial reporting policy considering accounting and non-accounting issues. The case addresses an important context, long-term construction contracts. Although the case setting is in India, it can be used in any country given its GAAP-agnostic nature. The case is best suited for intermediate accounting courses in which the topic of revenue recognition is addressed.

scholarly journals Statutory audit in Slovakia – significant phenomenon of global European changes

2020 ◽  
Vol 74 ◽  
pp. 06006
Author(s):  
Denisa Domaracká ◽  
Veronika Kňažková
Keyword(s):  
Financial Reporting ◽  
Global Economy ◽  
Financial Statements ◽  
Legislative Regulation ◽  
Significant Phenomenon ◽  
The Subject ◽  
The Impact ◽  
Regulation Changes ◽  
Audit Performance

The changing global economy environment also affected the area of statutory audit. Nowadays, statutory audit faces the significant changes not only because of the processes of digitization and automation in accounting and auditing, but because of increased and tightened legislative regulation, too. The most important aspects of financial reporting and auditing are subject to EU Regulations and EU Directives. For this reason, the issue of legislative regulation changes in field of statutory audit in Slovakia has become the subject of our article. Currently, the proposal of amending and supplementing Act. No 431/2002 Coll. on Accounting, as amended underwent an interdepartmental comment procedure. The proposal includes the changes on requirements for statutory audit. This article examines the current proposal to change (mainly increase) the conditions for performing the mandatory statutory audit of financial statements in Slovak audit environment. Our goal is to clarify the reasons and implications behind the changes of Slovak legislation as well as the impact of these changes on audit performance in Slovakia. We believe conducting statutory audits in accordance with the applicable legislation accepted and implemented at international European level can contribute to transparency and improve the quality of audit performance. In order to achieve the goal, it was necessary to choose a purposeful work methodology and research methods.

An International Relations Perspective on the Reform Needs of the Human Rights Council

2021 ◽  
Vol 62 (1) ◽  
pp. 43-80
Author(s):  
Wolfgang S. Heinz
Keyword(s):  
Human Rights ◽  
International Relations ◽  
International Law ◽  
Structure And Dynamics ◽  
Human Rights Council ◽  
Local Actors ◽  
Protection Of Human Rights ◽  
The Subject

Abstract: This article approaches the matter of institutional reform of the United Nations Human Rights Council from an international relations perspective. A well-known tension exists between State representatives acting for their governments in international organisations, but whose decisions are presented as UN policies. The latter should be guided primarily by the UN Charter and public international law. However, in reality, different worldviews and foreign policy considerations play a more significant role. In a comprehensive stock-take, the article looks at four major dimensions of the Council, starting with structure and dynamics and major trends, followed by its country and thematic activities, and the role of key actors. Council reform proposals from both States and civil society are explored. Whilst the intergovernmental body remains the most important authority responsible for the protection of human rights in the international sphere, it has also been the subject of considerable criticism. Although it has made considerable progress towards enlarging its coverage and taking on more challenging human rights crises, among some of its major weaknesses are the election of human rights-unfriendly countries into its ranks, the failure to apply stronger sanctions on large, politically influential countries in the South and North, and lack of influence on human rights crises and chronic human rights problems in certain countries. Whilst various reform proposals have emerged from States and NGOs, other more far reaching propositions are under sometimes difficult negotiations. In the mid- to long-term, the UN human rights machinery can only have a stronger and more lasting impact if support from national/local actors and coalitions in politics and society can be strengthened.

The persistent effect of banking crises on investment and the role of financial markets

2014 ◽  
Vol 6 (1) ◽  
pp. 64-77 ◽  
Author(s):  
Felix Rioja ◽  
Fernando Rios-Avila ◽  
Neven Valev
Keyword(s):  
Financial Markets ◽  
Financial Development ◽  
Banking Crisis ◽  
Banking Crises ◽  
Output Growth ◽  
Long Term Effects ◽  
Content Type ◽  
Negative Effect

Purpose – While the literature studying the effect of banking crises on real output growth rates has found short-lived effects, recent work has focused on the level effects showing that banking crises can reduce output below its trend for several years. This paper aims to investigate the effect of banking crises on investment finding a prolonged negative effect. Design/methodology/approach – The authors test to see whether investment declines after a banking crisis and, if it does, for how long and by how much. The paper uses data for 148 countries from 1963 to 2007. Econometrically, the authors test how banking crises episodes affect investment in future years after controlling for other potential determinants. Findings – The authors find that the investment to GDP ratio is on average about 1.7 percent lower for about eight years following a banking crisis. These results are robust after controlling for credit availability, institutional characteristics, and a host of other factors. Furthermore, the authors find that the size and duration of this adverse effect on investment varies according to the level of financial development of a country. The largest and longer-lasting decrease in investment is found in countries in a middle region of financial development, where finance plays its most important role according to theory. Originality/value – The authors contribute by finding that banking crisis can have long-term effects on investment of up to nine years. Further, the authors contribute by finding that the level of development of the country's financial markets affects the duration of this decrease in investment.

The Role of ECT in Schizophrenia

2002 ◽  
Vol 10 (4) ◽  
pp. 385-388 ◽  
Author(s):  
Richard Keuneman ◽  
Rajiv Weerasundera ◽  
David Castle
Keyword(s):  
Acute Onset ◽  
Clinical Settings ◽  
Limited Data ◽  
Term Outcome ◽  
Long Term Outcome ◽  
Affective Symptoms ◽  
Maintenance Ect ◽  
The Subject

Objective: To review the place of electroconvulsive therapy (ECT) in the treatment of schizophrenia. Conclusions: ECT is as effective, if not more so, than the antipsychotic drugs in certain clinical settings. It can be rapidly effective in acute episodes. When used alone, antipsychotics have comparable or superior efficacy to ECT alone in the short term. However, ECT possibly confers better long-term outcome. Combination treatment with antipsychotic medications and ECT is superior to either treatment alone, and is safe and effective, notably in medication resistant schizophrenia. Benefits of acute courses of ECT may be short-lived unless maintenance ECT is instituted, although there are limited data on the subject. Clinically, patients with acute onset, shorter episodes are more likely to respond to ECT. Catatonia, preoccupation with delusions and hallucinations, and a relative absence of premorbid schizoid and paranoid personality traits, are other clinical factors less strongly predictive of positive response. The presence of affective symptoms is often thought to be predictive of clinical response. However, there is little research evidence for this. While medications remain the mainstay of treatment in schizophrenia, ECT does have a clear and increasingly recognised role which requires further evaluation.

scholarly journals Earnings Management: The Role Of Accounting Professionals

2011 ◽  
Vol 1 (3) ◽  
Author(s):  
Paul J. Carruth
Keyword(s):  
Earnings Management ◽  
Financial Markets ◽  
Financial Reporting ◽  
Vital Role ◽  
Securities And Exchange Commission ◽  
Accounting Fraud ◽  
Earnings Expectations ◽  
Corporate Executives ◽  
Accounting Professionals

In todays financial markets there is a great deal of pressure for corporations to meet investors earnings expectations. Failure to do so may result in the loss of millions of dollars in stock capitalization. As a result, an increasing number of corporate executives have succumbed to the temptation to manage their earnings in order to achieve targeted profits. The number of companies under investigation by the Securities and Exchange Commission (SEC) for possible accounting fraud related to earnings management has increased significantly in recent years. This article identifies and discusses four common areas of potential financial reporting abuse: restructuring costs, miscellaneous reserve accounts, materiality, and manipulation of revenue recognition. In addition, this paper discusses the vital role of accounting professionals as gatekeepers responsible for helping to maintain the viability of our financial markets.

The International Role of the U.S. Dollar

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2998) ◽  
Author(s):  
Carol Bertaut ◽  
◽  
Bastian von Beschwitz ◽  
Stephanie Curcuru ◽  
◽  
...  
Keyword(s):  
Financial Markets ◽  
Rule Of Law ◽  
Capital Flows ◽  
Global Economy ◽  
The Rule Of Law ◽  
Strong Property ◽  
International Role ◽  
Openness To Trade ◽  
The U.S

For most of the last century, the preeminent role of the U.S. dollar in the global economy has been supported by the size and strength of the U.S. economy, its stability and openness to trade and capital flows, and strong property rights and the rule of law. As a result, the depth and liquidity of U.S. financial markets is unmatched, and there is a large supply of extremely safe dollar-denominated assets.

Cages for Heavy Bearings: A Patent Study

2015 ◽  
Vol 809-810 ◽  
pp. 646-651
Author(s):  
Romeo Cioară ◽  
Valentin Gabriel Szekely
Keyword(s):  
Continuous Improvement ◽  
Critical Analysis ◽  
Global Economy ◽  
New Technologies ◽  
Manufacturing Complexity ◽  
Operational Energy ◽  
Development Processes ◽  
The Subject ◽  
Technical Solutions

In contextual evolution of the global economy and new technologies, quality, competitiveness, and cost engage companies to focus on continuous improvement and innovation. This approach is highly visible in the bearing industry, due to the emergence and improvement of existing and new types of bearings.The authors of the paper are engaged in a long-term research, which aims to improve the performance of heavy bearings, including identification of new constructive solution. The study is focused on the characteristics and constructive structure of the bearings cages in discussion.In this context, it is logical that the research focuses upon known bearings cages that are currently used [1], as well as unknown or unapplied constructive solutions which are the subject of patents.The critical analysis of various constructive cage solutions for bearings, intended or not for heavy bearings, is a valuable source of inspiration and information towards identification of constructive elements and characteristics useful to develop new technical solutions, by applying integrations, combinations, innovations and development processes [2].In the presented paper several patents are analyzed critically [3, 4, 5], in terms of constructive solutions, manufacturing complexity and presumptive operational energy consumption.

Short-term performance of stocks after fraudulent financial reporting announcement

2019 ◽  
Vol 26 (2) ◽  
pp. 464-476 ◽  
Author(s):  
Mehmet Eryigit
Keyword(s):  
Financial Markets ◽  
Stock Returns ◽  
Financial Reporting ◽  
Abnormal Return ◽  
Fraudulent Financial Reporting ◽  
Short Term ◽  
Content Type ◽  
Publicly Traded Companies ◽  
Company Stock

Purpose Availability of accurate and reliable information in financial markets helps investors make well-informed decisions on capital allocations which is beneficial for long-term economic growth. In this regards, the role of auditing firms that inspect the financial statements of the publicly traded companies in sound operation of financial markets has been increasing. The Capital Market Board of Turkey (CMBT) has the task and responsibility of investigating fraudulent information disseminated by the firms whose stocks are traded in Borsa Istanbul. The investigations can lead to monetary penalties if fraud is proven and the results are published by CMBT in its weekly bulletin. The present study aims to examine the effect of announcements of financial irregularities of companies in CMBT Bulletin on the performance of the relevant company stock in the short term. Design/methodology/approach This study uses abnormal return, cumulative abnormal return and cumulative average abnormal return as metrics and parametric, as well as non-parametric tests to ascertain whether the announcements of financial irregularities in company operations have any statistically significant effect on the return of its stock. Findings The results indicate that publication of the financial penalty news by CMBT in its bulletin has almost no statistically significant influence on the performance of the relevant companies’ stock in Borsa Istanbul. The findings indicate that either the investors in this particular markets do not consider such news relevant to long-term success of the firm or the announcement does not provide any new information and penalties have been priced into the stock before the announcement in the bulletin. Originality/value In literature there is no more research about the effect of the announcements of administrative monetary penalties and crime complaints on the stock returns.

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