scholarly journals The Impact Of Accounting Scandals On Accounting Students

2011 ◽  
Vol 2 (6) ◽  
Author(s):  
Steven R. Jackson
Keyword(s):  
Student Perceptions ◽  
Financial Reporting ◽  
Accounting Students ◽  
Audit Process ◽  
The Public ◽  
Financial Reporting Standards ◽  
Accounting Scandals ◽  
Before And After ◽  
History Of ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">At no other time in the history of the accounting profession has there been such an impact to the financial reporting function within the capital market structure. The institutions responsible for the financial reporting function are reeling from the fallout of these financial-reporting scandals. &ldquo;Reports on the collapse of Enron, the bankruptcy of WorldCom, and a growing list of failures and near failures have exposed massive manipulations of financial reporting by management, inexplicable breakdowns in the independent audit process, astonishing revelations of holes in our financial-reporting standards and practices, and studding lapses of corporate governance&rdquo;. (Sutton, 2002). As Sutton also points out, in this environment, investors and the public have become increasingly skeptical about a system that seems to be out of control.<span style="mso-spacerun: yes;">&nbsp; </span>The impact on perceptions of the investing public must also include students studying business and more specifically students studying accounting. This study uses a questionnaire developed by Gramling, et.al. (1996) to study the perceptions of auditing students before and after the above mentioned financial-reporting scandals. Students in two auditing classes, one before the scandals and one after, were given the questionnaire at the beginning of their auditing course. The results show a significant change in student perceptions concerning audit expectation issues after the scandals, but before they studied auditing.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></p>

scholarly journals The importance of information upon applying IFRS in financial entities that trade at the Colombian stock market

2019 ◽  
Vol 21 (34) ◽  
pp. 137-152
Author(s):  
Miguel Angel Laverde Sarmiento ◽  
Jorge Fernando Garcia Carrillo ◽  
Juan Carlos Lezama Palomino ◽  
Alejandra Patiño Jacinto
Keyword(s):  
Financial Reporting ◽  
Stock Price ◽  
Stock Exchange ◽  
Regulatory Framework ◽  
General Level ◽  
Market Exchange ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Before And After ◽  
The Impact

The aim of this research is to determine whether the implementation of the International Financial Reporting Standards (IFRS) in the companies of the financial sector listed on the Colombian Stock Exchange has greater relevance compared to the previous accounting regulatory framework known as Generally Accepted Accounting Principles (GAAP) in Colombia, for the years 2009 to 2016. Taking into account the concept of valorative relevance that indicates that the accounting information is relevant if it affects the stock price reflected in the capital market exchange. To determine this relationship, an adaptation of the model proposed by Ohlson (1995) is used, because it is the most frequently used to measure relevance. The modifications made to the model were to include accounting variables of financial instruments of assets and liabilities to better measure the impact of the IFRS. On a general level, the conclusion is reached that the valorative relevance of financial companies listed on the stock exchange between 2009 and 2016, does not change due to the application of the IFRS. The results are because the regulation that financial companies that are listed on the stock exchange of Colombia are subject to has contributed to the relevance being maintained before and after the application of the new regulatory framework. however, when carrying out the study of the information taking into account only the variables and taking into account the regulations under the IFRS, they present a greater degree of significance.

scholarly journals Value Relevance of Intangible Assets Before and After FRS 138 Adoptions: Evidence From Malaysia

2019 ◽  
Vol 10 (3) ◽  
pp. 267
Author(s):  
Nik Azmiah Binti Nik Azin ◽  
Norhayati Bt Alias
Keyword(s):  
Financial Reporting ◽  
Intangible Assets ◽  
Value Relevance ◽  
Economic Consequences ◽  
High Tech ◽  
Intangible Asset ◽  
Financial Reporting Standards ◽  
Tangible Assets ◽  
Before And After ◽  
The Impact

The economic environment has changed from the era of agriculture, industrial and now to an information era. In this information era, intangible assets dominate the environment compared to during industrial era that was mainly dominated by tangible assets. Intangible asset plays an important role in today’s economy with the shift from being an industrialised economy to a high-tech and service-oriented. In Malaysian capital market, there is an upward trend of intangible assets development. Hence, the question of whether the value relevance of intangible assets is properly reflected in financial statements arises. The objective of this study is to examine the value relevance of intangible assets in Malaysia before and after the adoption of FRS 138. This study used a sample of 113 public listed companies from four main sectors namely Industrial Product, Trading services, Consumer Product and Technology. The period under study was divided into two, that is, pre adoption period (2002-2005) and post adoption period (2008-2011) to observe if there were any improvements on the value relevance of intangible assets after the adoption of International Financial Reporting Standards (IFRS). The data was analysed to examine the value relevance of intangible assets in Malaysia before and after the adoption of FRS 138. The finding of this study suggests that intangible assets are value relevant in the pre adoption period but are not value relevant in the post adoption period. This study may contribute to the existing literature on the economic consequences of adopting IFRS and also preliminary indication of the impact of FRS 138 adoption.

scholarly journals Audit Tests and Their Impact on Fraud Detection-Case of Albania

2018 ◽  
Vol 4 (1) ◽  
pp. 79-88
Author(s):  
Mirela Ujkani Miti ◽  
Elena Myftaraj ◽  
Ueda Hajrullaj
Keyword(s):  
Financial Reporting ◽  
Primary Objective ◽  
Controversial Issues ◽  
Audit Process ◽  
Literature Study ◽  
Subject Field ◽  
The Public ◽  
High Quality Information ◽  
Illegal Acts ◽  
The Impact

Abstract For an auditor having the responsibility for the prevention, detection and reporting of fraud, other illegal acts and errors is one of the most controversial issues in auditing, and has been one of the most frequently debated areas amongst auditors, politicians, media, regulators and the public (Gay et al 1997). The primary objective of financial reporting is to provide high-quality information to financial statement users. Regarding to this, we have taken into consideration an important element, such as the audit report which provides reasonable assurance to present and potential capital providers and other stakeholders when making investments, credit decisions, and allocating resources that may enhance overall capital market efficiency. The audit engagement in Albania is based on International Auditing Standards. We have attempted to study and identify the role of audit tests, performed by auditors during the audit process, in detecting material misstatements in the financial statements, in order to obtain a more qualitative financial reporting. Through the literature study regarding the impact of audit procedures undertaken in the auditor's opinion and the evidence gathered by the questionnaire addressed to auditors in Albania, it is possible to carry out our research questions about the subject field. In conclusion, we will express our opinion about the possible suggestions that should be followed during the selection of the adequate audit test to be performed, in order to ensure the most qualitative financial reporting in Albania.

scholarly journals Racism in medicine: A qualitative study on the impact of discussion among medical students

MedEdPublish ◽  
2021 ◽  
Vol 11 ◽  
pp. 5
Author(s):  
Sara Saymuah Stone ◽  
Capricia Bell ◽  
Ashleigh Peoples ◽  
Manvir Sandhu ◽  
Suma Alzouhayli ◽  
...  
Keyword(s):  
Student Perceptions ◽  
State University ◽  
Medical Outcomes ◽  
Structural Racism ◽  
Wayne State University ◽  
Research Bias ◽  
Before And After ◽  
History Of ◽  
Survey Responses ◽  
The Impact

Background: This study evaluated the impact of the Racism in Medicine Summit on student perceptions of various topics related to racism in medicine. The Summit was organized at the Wayne State University School of Medicine (WSUSOM) to educate students, faculty and staff on how structural racism affects the residents of Detroit and the historical relationship between healthcare and vulnerable populations. The Summit aimed at providing context for what students in Detroit will encounter as physicians-in-training and the skills they will need to master while working within similar communities.  Methods: Qualtrics surveys were created and distributed via email to attendees before and after the event. Responses were obtained via Likert scale and open-text questions.  Results: A total of 342 out of 445 participants (77%) completed both the pre- and post-survey. Quantitative analysis in post-survey responses revealed more familiarity among participants regarding specific instances of racism in the history of medicine, greater extent of thinking the history of racism impacts present-day Detroit residents, greater extent of thinking that racism influences medical care and/or medical outcomes, and belief that racism is reflected in medical research, compared to pre-survey responses (p < 0.001). Participants also reported more often considering racial or societal influences when studying medicine and more knowledge of what they can do to combat racism as a student and physician (p < 0.001).  Qualitative analysis revealed seven themes among participants: the history of racism in medicine, personal reflection, racism in research, bias and microaggression, actions to take against racism, resources for anti-racist education, and racism in medical education.  Conclusions: Demonstrable changes in medical student attitude and awareness surrounding topics of racism and healthcare were achieved after the Racism in Medicine Summit. This can serve as a model for other medical schools to raise awareness about racism in medicine.

The IFRS Transition and Accounting Education: A Canadian Perspective Post-Transition

2012 ◽  
Vol 28 (2) ◽  
pp. 253-261 ◽  
Author(s):  
Sandy R. Hilton ◽  
Nathalie Johnstone
Keyword(s):  
Financial Reporting ◽  
Accounting Education ◽  
Accounting Students ◽  
Curriculum And Pedagogy ◽  
Financial Reporting Standards ◽  
Accounting Curriculum ◽  
Canadian Perspective ◽  
The Impact ◽  
Potential Content ◽  
Discussion Topic

ABSTRACTCanada transitioned to International Financial Reporting Standards (IFRS) in 2010–2011. In this commentary, we discuss the impact that the transition had from an accounting education perspective, particularly on undergraduate accounting programs. Our experience was that the transition was not a substantial hurdle but that it did provide opportunity for many formal and informal discussions of the accounting curriculum and pedagogy. Canada also introduced separate accounting standards for private enterprises at the same time as we transitioned to IFRS. Therefore, accounting educators were concerned with potential content overload and strategies for minimizing content overload. In this commentary we discuss both of those issues as well as a third common discussion topic in Canada during the transition—how to teach professional skills to accounting students. This commentary summarizes those three topics that were common in accounting education in Canada during the IFRS transition.

Effects of Translation on Probability Judgments: Evidence from the IFRS in Taiwan

2018 ◽  
Vol 18 (1) ◽  
pp. 127-141
Author(s):  
Hsiao-Lun Lin ◽  
Shu-Ling Yeh ◽  
Ai-Ru Yen
Keyword(s):  
Financial Reporting ◽  
English Proficiency ◽  
Accounting Students ◽  
Reporting Standards ◽  
Accounting Standard ◽  
Probability Judgments ◽  
Financial Reporting Standards ◽  
English Fluency ◽  
Before And After ◽  
English Speaking

ABSTRACT Following the trend toward a globalized accounting standard, many non-English-speaking countries have adopted the International Financial Reporting Standards (IFRS). Translation of the IFRS from English to other languages is inevitable; thus, it is crucial to ensure that the original meanings of the standard requirements are not affected by translation. Using accounting students from a university in Taiwan as participants, we found that nearly half of probability expressions from the IFRS were differently interpreted before and after translation. And the effects of translation were moderated by the participants' accounting knowledge and English proficiency. Our results show that improving participants' accounting knowledge or English fluency would reduce variations in interpretations of probability expressions before and after the translation. Finally, we found that translation has more impact on participants' interpretations of negative expressions than positive expressions.

IFRS IMPLEMENTATION AS ONE OF THE FACTORS FOR IMPROVING THE INVESTMENT CLIMATE IN UKRAINE

2017 ◽  
Author(s):  
Kateryna Sova ◽  
◽  
Natalia Yatsenko ◽  
Denys Zagirniak ◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Direct Investment ◽  
Financial Statements ◽  
International Standards ◽  
Investment Climate ◽  
The European Union ◽  
Economic Activities ◽  
Financial Reporting Standards ◽  
Almost All ◽  
The Impact

The article is devoted to the study of the impact of the introduction of International Financial Reporting Standards (IFRS) on changes in the investment climate in Ukraine. The relevance of the topic is that improving the practice of applying IFRS as a tool for exchanging financial information is one of the key conditions for improving the investment climate in Ukraine. The authors have created the generalized scheme that illustrates the chronological list of enterprises that are required by law to prepare financial statements in accordance with IFRS. It was noted that in 2018, in accordance with Part 2 of Article 12 of the law on accounting and financial reporting in Ukraine and resolution of the Cabinet of Ministers of Ukraine No. 547 from 11.07.2018, the criteria of enterprises that are required to prepare financial statements in accordance with IFRS were updated. This step significantly increased the level of application of international standards due to the adoption of such a decision at the legislative level. The dynamics of the number of IFRS enterprises in Ukraine was analyzed. The analysis showed that over the past three years, the number of almost all enterprises that must apply international standards has been growing. The advantages of using IFRS for different users of financial statements were determined. It was determined that the priority users of IFRS financial statements are investors. At the same time, it was noted that the main advantage for other users of financial statements prepared in accordance with international standards is the improvement of the investment climate. The dynamics of the Investment Attractiveness Index of Ukraine based on the Likert scale in the period from 2016 to 2020 was analyzed. The direct investment receipts to Ukraine from the European Union countries were studied. The dynamics of direct investment in the Ukrainian economy was analyzed for two types of economic activities that should form financial statements in accordance with IFRS, namely, the extractive industry and quarrying, as well as financial and insurance activities.

The Challenges in Dealing with Organized Crime and its Consequences in Modern Societies in Albania, Kosovo and Macedonia – the Balkan Peninsula

2015 ◽  
Vol 5 (1) ◽  
pp. 161
Author(s):  
Bashkim Selmani ◽  
Bekim Maksuti
Keyword(s):  
Organized Crime ◽  
Balkan Peninsula ◽  
Human Mind ◽  
Negative Consequences ◽  
The Public ◽  
Before And After ◽  
History Of ◽  
European Standards ◽  
Organized Crime Groups ◽  
Further Development

The profound changes within the Albanian society, including Albania, Kosovo and Macedonia, before and after they proclaimed independence (in exception of Albania), with the establishment of the parliamentary system resulted in mass spread social negative consequences such as crime, drugs, prostitution, child beggars on the street etc. As a result of these occurred circumstances emerged a substantial need for changes within the legal system in order to meet and achieve the European standards or behaviors and the need for adoption of many laws imported from abroad, but without actually reading the factual situation of the psycho-economic position of the citizens and the consequences of the peoples’ occupations without proper compensation, as a remedy for the victims of war or peace in these countries. The sad truth is that the perpetrators not only weren’t sanctioned, but these regions remained an untouched haven for further development of criminal activities, be it from the public state officials through property privatization or in the private field. The organized crime groups, almost in all cases, are perceived by the human mind as “Mafia” and it is a fact that this cannot be denied easily. The widely spread term “Mafia” is mostly known around the world to define criminal organizations.The Balkan Peninsula is highly involved in these illegal groups of organized crime whose practice of criminal activities is largely extended through the Balkan countries such as Kosovo, Albania, Macedonia, Serbia, Bosnia, Croatia, Montenegro, etc. Many factors contributed to these strategic countries to be part of these types of activities. In general, some of the countries have been affected more specifically, but in all of the abovementioned countries organized crime has affected all areas of life, leaving a black mark in the history of these states.

New Wars and Their Visual Representation: Dead Bodies without Graves/Mourne

2020 ◽  
Vol 2 ◽  
pp. 1-18
Author(s):  
Tuncay Şur ◽  
Betül Yarar
Keyword(s):  
Social Media ◽  
Visual Representation ◽  
Human Beings ◽  
The Public ◽  
Photographic Images ◽  
War Photography ◽  
New Wars ◽  
The Social ◽  
History Of ◽  
The Impact

This paper seeks to understand why there has been an increase in photographic images exposing military violence or displaying bodies killed by military forces and how they can freely circulate in the public without being censored or kept hidden. In other words, it aims to analyze this particular issue as a symptom of the emergence of new wars and a new regime of their visual representation. Within this framework, it attempts to relate two kinds of literature that are namely the history of war and war photography with the bridge of theoretical discussions on the real, its photographic representation, power, and violence.  Rather than systematic empirical analysis, the paper is based on a theoretical attempt which is reflected on some socio-political observations in the Middle East where there has been ongoing wars or new wars. The core discussion of the paper is supported by a brief analysis of some illustrative photographic images that are served through the social media under the circumstances of war for instance in Turkey between Turkish military troops and the Kurdish militants. The paper concludes that in line with the process of dissolution/transformation of the old nation-state formations and globalization, the mechanism and mode of power have also transformed to the extent that it resulted in the emergence of new wars. This is one dynamic that we need to recognize in relation to the above-mentioned question, the other is the impact of social media in not only delivering but also receiving war photographies. Today these changes have led the emergence of new machinery of power in which the old modern visual/photographic techniques of representing wars without human beings, torture, and violence through censorship began to be employed alongside medieval power techniques of a visual exhibition of tortures and violence.

scholarly journals The impact of IFRS-based accounting standards on earnings management: evidence from Malaysia

2016 ◽  
Vol 5 (1) ◽  
pp. 1
Author(s):  
Yosra Makni Fourati ◽  
Rania Chakroun Ghorbel
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Emerging Market ◽  
Accounting Standards ◽  
Absolute Value ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Earning Quality ◽  
The Impact ◽  
Different Levels

This study aims to examine the consequences of International Financial Reporting Standards (IFRS) convergence in an emerging market. More specifically, we investigate whether the adoption of the new set of accounting standards in Malaysia is associated with lower earnings management. Using a sample of 3,340 firm-year observations across three reporting periods with different levels of IFRS adoption, we provide evidence that IFRS convergence improves earning quality. In particular, we find a significant decrease in the absolute value of discretionary acccruals in the partial IFRS-convergence period (2007-2011), whereas this effect is restrictive after the complete IFRS- implementation.

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