Financial Position and Performance in IFRS 17

2020 ◽  
Author(s):  
Mathias Lindholm ◽  
Filip Lindskog ◽  
Lina Palmborg
Keyword(s):  
Financial Position ◽  
And Performance

scholarly journals Howzat? The Financial Health of English Cricket: Not Out, Yet

2019 ◽  
Vol 7 (1) ◽  
pp. 11 ◽  
Author(s):  
Daniel Plumley ◽  
Rob Wilson ◽  
Robbie Millar ◽  
Simon Shibli
Keyword(s):  
Structural Changes ◽  
Financial Statements ◽  
Financial Health ◽  
Financial Problems ◽  
England And Wales ◽  
Financial Position ◽  
General Terms ◽  
Revenue Streams ◽  
And Performance

In 1997 a review of the financial health of English county cricket highlighted strategic weaknesses within the professional game, principally an over-reliance by clubs on the annual grants provided to them by the England and Wales Cricket Board (ECB). Without such grants the teams, in general terms, would be insolvent. Using the financial statements of the First Class Cricket Counties, this paper explores how the financial position and performance of the county game has changed, 20 years on from the seminal study. A series of structural changes to the game had been made, yet financial problems are still evident. Counties are as reliant on central grant income as they were in 1997, although there are cases where clubs have made strategic enhancements and are becoming self-sustainable as going concerns. Rather than the ECB directly funding county revenue it should be working in collaboration with individual clubs to achieve developments in the game from the grassroots upwards, in order to help clubs grow their own revenue streams.

scholarly journals A reassessment of local government’s financial position and performance: The case of Ireland

2020 ◽  
Vol 68 (2) ◽  
pp. 1-35
Author(s):  
Gerard Turley ◽  
Rémi Di medio ◽  
Stephen McNena
Keyword(s):  
Local Government ◽  
Financial Performance ◽  
Local Authority ◽  
Central Government ◽  
Performance Indicator ◽  
Operating Performance ◽  
Fiscal Sustainability ◽  
Local Authorities ◽  
Financial Position ◽  
And Performance

AbstractGiven the changes in the Irish economy since the economic crisis and, more specifically, reforms in the local government sector, this paper reassesses the financial position and fiscal sustainability of local authorities in Ireland. To do this we employ a local government financial performance framework that measures liquidity and solvency, but also operating performance and collection rates, for different sources of revenue income. Using financial data sourced from local council income and expenditure accounts and balance sheets, we report and analyse the financial position and performance during the 2007–17 period. The results indicate an improvement in the financial performance of local councils since the early 2010s. Cross-council differences persist, in particular, between large urban local authorities and smaller rural local authorities, albeit only for the liquidity and operating performance measures. Among the small rural councils, Sligo County Council’s financial position, although improving, remains a serious matter with ongoing consultation with and monitoring by central government. To help improve the measurement of local authority financial performance we recommend inclusion of this framework in the local authority Annual Financial Statement and also in the Performance Indicator Report with a view to making financial reports more accessible and transparent to citizens and taxpayers and, ultimately, to help improve performance and service delivery by the local authorities.

scholarly journals Accounting Policies in the Function of Quality Assessment of Financial Statements

2021 ◽  
Vol 59 (3) ◽  
pp. 357-373
Author(s):  
Jelena Raičević
Keyword(s):  
Quality Assessment ◽  
Financial Statements ◽  
Relevant Information ◽  
Cash Flows ◽  
Business Decisions ◽  
Financial Position ◽  
And Performance ◽  
Complex Relationships ◽  
A Company

Abstract Financial statements represent an instrument by which relevant information about a company is passed on to its users. Based on the information presented in the financial statements, i.e. information on the financial position and performance of the company, and generated cash flows and capital, users make business decisions. Specific accounting policies serve as the basis for the preparation of quality financial statements. Management is responsible for the preparation and presentation of financial statements and selects accounting policies. Although simple, the issue of choosing the accounting policies can be extremely delicate and complex. Besides management, there are other stakeholders who may be affected by this issue. As a consequence, there are complex relationships that affect the choice of accounting policies, and thus the quality of financial statements.

scholarly journals Biological assets and the agricultural products in the context of the implementation of the IAS 41: A case study of the Romanian agro-food system

2015 ◽  
Vol 67 (2) ◽  
pp. 705-714 ◽  
Author(s):  
Dorel Mates ◽  
Veronica Grosu ◽  
Elena Hlaciuc ◽  
Ionel Bostan ◽  
Ovidiu Bunget ◽  
...  
Keyword(s):  
Food Industry ◽  
Food System ◽  
Assessment Criteria ◽  
Financial Reports ◽  
Financial Position ◽  
Harmonization Process ◽  
And Performance ◽  
Agriculture Products ◽  
The Eu

Nowadays, when the contribution of agriculture and agro-food industry to the GDP is a significant, in Romania?s case we appreciate that the economic aspects of this area also deserve a specific approach. The aim of this paper was to identify the incompatibility of the recognition and assessment criteria of agriculture production, biological assets and agriculture products imposed by the application of these standards in agro-food companies, and to analyze its effects concerning the financial position and performance of these entities. The paper takes into consideration the economic-financial harmonization process, which is now in full progress, both in the EU and other states, by applying the specific standards (IAS/IFRS) in the preparation of annual/interim financial reports. Finally, referring strictly to the case of Romania, after thorough research into the field in question, we suggest a presentation of the controversial assessment criteria provided by the IAS 41 standard, and also refer to the difficulties related to the implementation of this standard in the agro-food industry.

Financial Impacts of COVID-19 on Tourism

2021 ◽  
pp. 45-68
Author(s):  
Derya Üçoğlu
Keyword(s):  
Infectious Diseases ◽  
Natural Disasters ◽  
Financial Statements ◽  
Listed Companies ◽  
Financial Impact ◽  
Terrorist Attacks ◽  
First Year ◽  
Financial Position ◽  
And Performance ◽  
Financial Impacts

Tourism is a vulnerable sector to risk-related events such as natural disasters, terrorist attacks, economic crises, or infectious diseases. After the outbreak of COVID-19 being confirmed a pandemic in March 2020, the operations of tourism companies decreased sharply due to the restrictions and measures imposed as the virus was being transmitted easily between people through droplets or particles that float in the air. Therefore, this chapter focuses on the financial impacts of COVID-19 on tourism by examining the financial statements and disclosures of some listed companies. Although there are some studies on the potential effects of the COVID-19 on the economy or the businesses, there are hardly any concerning the financial impact of the pandemic on tourism companies as of the end of pandemic's first year. This study identifies the effect of COVID-19 on the financial position and performance of tourism companies, COVID-19 related risks, the strategies implemented by companies and their possible impact on operations.

Determining the impact of leaseback on the financials of the company

2021 ◽  
Vol 27 (1) ◽  
pp. 189-210
Author(s):  
Nikita A. VAKUTIN ◽  
Elena A. FEDULOVA
Keyword(s):  
Financial Management ◽  
Economic Indicators ◽  
Financial Flows ◽  
Positive Effects ◽  
Financial Position ◽  
Feasibility Evaluation ◽  
Financing Mechanism ◽  
And Performance ◽  
Key Aspects ◽  
The Impact

Subject. Being a progressive investment mechanism, leaseback is a part of financial management. It is supposed to optimize the financial position of the entity. The article discusses financial and economic indicators (ratios) that help analyze how the financial position of the company changes due to the leaseback scheme. Objectives. We herein determine how leaseback influences the financial position of the entity. For this, we describe key financial and economic indicators (ratios) by evaluating the feasibility of investment in leaseback. The study is also intended to observe how financial flows change due to the leaseback mechanism. We also examine changes in financial and economic ratios of the financial position due to leaseback mechanism. Methods. We resort to general methods of research, such as comparative analysis, synthesis, induction and deduction, thus deriving reliable and reasonable results. Results. We found out that the leaseback feasibility evaluation technique is indispensable without observing changes in financial flows and financial and economic indicators (ratios) that show the financial position and performance of a business. The article indicators key aspects to evaluate the financial feasibility of investment in leaseback, describe how it changes due to the leaseback mechanism. We also produce model assessments, referring to the leaseback deal of a certain company operating in coal mining, thus revealing the positive effect of leaseback on the financial position of the company. Conclusions and Relevance. The construction and use of the leaseback feasibility study technique justifies the choice of leaseback as an investment mechanism, which has positive effects on the financial position. Having assessed financial and economic indicators (ratios), we revealed the efficiency and feasibility of leaseback for a company that needs to replenish its working capital. The findings can be used to make reasonable investment decisions, when pondering on an appropriate corporate financing mechanism.

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