scholarly journals Responsible Financing: International Standards and Transparency Trends in Doing Business

2021 ◽  
pp. 78-85
Author(s):  
A. D. Levashenko ◽  
I. S. Ermokhin
Keyword(s):  
International Finance ◽  
International Standards ◽  
Financial Accounting ◽  
Accounting Standard ◽  
Doing Business ◽  
Integral Element ◽  
Russian Law ◽  
Recent Initiative ◽  
Sustainability Standards ◽  
The Eu

Responsible financing has ceased to act as a narrow niche of finance market and today it involves more and more responsible finance institutions and companies interested in access to responsible finance tools. The basic condition for responsible financing implies availability of full trustworthy information about non-financial figures of the potential project for investment. Thus non-financial accounting has become an integral element of the responsible financing development in the world. The authors analyze key effective international tools on responsible financing and revealing non-financial information. They give characteristics of stages in shaping the institution of responsible financing. Apart from that they study regulation of responsible financing and non-financial accounting in the EU and Russian law. Today on international finance market we can observe a considerable demand both for developing systems of non-finance accounting standards and harmonization of draft standards, as all accounting standard systems use one and the same notions. The article investigates as an example a recent initiative of MSFO concerning setting-up the Council on sustainability standards. However, we should state the absence of the standard concerning revealing non-finance information by companies in Russia. Proposals were put forward about the development of responsible financing in Russia by making-up legislation in this field.

scholarly journals Not Just Business as Usual in the EU: A Comprehensive Analysis of Immigration and Tax Issues Related to Business Trips in 17 Schengen Countries

2018 ◽  
Vol 9 (2) ◽  
pp. 46
Author(s):  
Marco Mazzeschi ◽  
Clayton E. Cartwright Jr.
Keyword(s):  
Comparative Analysis ◽  
Comprehensive Analysis ◽  
International Standards ◽  
Work Permit ◽  
General Terms ◽  
Doing Business ◽  
Definition Of ◽  
Business As Usual ◽  
The Eu ◽  
International Companies

This article undertakes a comparative analysis of doing business in the European Union’s Schengen Bloc vis-à-vis working in the Schengen Bloc. Through a critical review of what may constitute business activities vs. work in all 17 Schengen member states, the article establishes how international companies can minimize unintentional exposure to immigration noncompliance as well as possible tax liabilities. As the article observes, there is a general absence of a standard EU legal definition of ‘work’ vs. ‘business activities’ that international companies can apply when sending employees for business purposes to the Schengen Bloc. In the absence of specific criteria, the article outlines what characterizes business activities in 17 Schengen countries and then several international standards, which concerned parties can use a reference point. By examining various sources including EU, OECD and ILO frameworks, the article’s research indicates general terms of reference in distinguishing business activities from work, and how that distinction confers the need for a business visa or a work permit in the European Union’s Schengen Bloc.

scholarly journals Revising the Conceptual Framework of the International Standards: IASB Proposals Met with Support and Skepticism

2016 ◽  
Vol 2 (1) ◽  
pp. 1 ◽  
Author(s):  
Christopher W. Hoffman
Keyword(s):  
Conceptual Framework ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Standards ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Accounting Standard ◽  
Other Comprehensive Income ◽  
The U.S

This article analyzes the current financial reporting issue regarding the updates proposed by the International Accounting Standards Board (IASB) to the Conceptual Framework for Financial Reporting. Since accounting standard-setters have embraced the notion of concepts as a guide and foundation to developing accounting standards, the IASB has concluded that there should be more importance place on developing a solid framework. Based on current literature and the fact that the Financial Accounting Standards Board (FASB) in the U.S. has a solid framework in place, the IASB has designed proposed updates to their framework and requested comments from the general public regarding those updates. This article evaluates the comments made by 72 respondents and tabulates the responses based on agree, disagree, or no comment. These results concluded that 66% of the responses were positive toward the updates, but 29% were negative. The disagreement was focused around four main topics: (1) prudence; (2) statement of profit or loss; (3) statement of other comprehensive income; and (4) rebuttable presumption for recycling. The IASB hopes to assimilate, deliberate, and disseminate the suggestions, comments, and the updates in 2016.

THEORETICAL AND PRACTICAL UNDERSTANDING OF ANTI-CORRUPTION POLICY OF UKRAINE: THE EUROPEAN INTEGRATION ASPECT

2020 ◽  
pp. 102-105
Author(s):  
A. A. Prykhodko
Keyword(s):  
Law Enforcement ◽  
Civil Rights ◽  
European Integration ◽  
International Standards ◽  
The Rule Of Law ◽  
Third World Country ◽  
Broad Interpretation ◽  
Enforcement Activity ◽  
Cross Border Cooperation ◽  
The Eu

The article analyzes the theoretical and practical aspects of the anti-corruption policy of Ukraine in the context of European integration. Considered that corruption has long been perceived in the EU as a negative phenomenon requiring systematic, strategic and concerted action of a transboundary and transnational character and, in general, a threat to the rule of law. The author concluded that Ukraine will continue to be perceived by a third world country as long as anti-corruption measures are duplicated from one strategic document to another. The anti-corruption strategy of Ukraine should be an early, strategic and systematic tool for the eradication of corruption and the formation of public justice in the context of zero tolerance for such phenomena. Now this is a set of normatively fixed declarative slogans that are consistent with international standards, but are not achievable in practical terms due to the lack of state strategic planning in advance. The new anti-corruption strategy must necessarily include a broad interpretation of all the concepts used in it, including the term “anti-corruption policy”. Taking into account the recommendations of the CIS Interparliamentary Assembly, the author’s vision of the term “anti-corruption policy” has been formed, as a set of principles, tasks, goals and principles of implementation of law-making and law-enforcement activity of public administration within the protection of human and civil rights and freedoms a state implemented by a system of methods, means and measures to combat corruption in priority areas and in accordance with anti-corruption standards and on the basis of transnational national and cross-border cooperation.

The development of sustainability standards in the sugar industry

2010 ◽  
pp. 82-87 ◽  
Author(s):  
Peter W. Rein
Keyword(s):  
Sugar Industry ◽  
Sustainable Production ◽  
Stages Of Development ◽  
Sustainability Standards ◽  
The Eu

The production of bioethanol and biodiesel and the prospect of its importation into the EU have lead to various initiatives to ensure that only biofuels which are produced in a sustainable way are acceptable. Standards which are set to define the important sustainability issues are in various stages of development. The processes involved are of interest to the sugar industry, as both sugarcane and sugarbeet have enormous potential as feedstocks for bioethanol. The Better Sugarcane Initiative is underway to define standards for the sustainable production of both sugar and bioethanol from sugarcane. This paper attempts to discuss the major issues surrounding sustainable production of sugar and ethanol, outlining the processes involved in setting and maintaining sustainability standards. This is discussed in particular with respect to the development of the Better Sugarcane Initiative and looks forward to the implications for all stakeholders.

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.

Pengaruh Penerapan Pernyataan Standar Akuntansi Keuangan 109 Terhadap Implementasi Good Governance

2019 ◽  
Vol 3 (2) ◽  
pp. 147-157
Author(s):  
Dariana Dariana ◽  
Ruzita Ruzita
Keyword(s):  
Linear Regression ◽  
Analytical Method ◽  
Good Governance ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Questionnaire Data ◽  
Simple Linear Regression ◽  
Accounting Standard ◽  
Quantitative Descriptive

The purpose of this study was to determine how the application of Financial Accounting Standards Statement 109 and the implementation of Good Governance in the National Zakat Board of Bengkalis Regency and the influence of the application of the Financial Accounting Standard Statement 109 on the implementation of Good Governance in the national zakat board of Bengkalis Regency. This research was conducted using quantitative descriptive methods. These data were obtained from questionnaire data, interviews and documentation that were distributed to all employees of the Bengkalis Regency National Amil Zakat Agency and several Zakat Collection Units in Bengkalis Regency. The analytical method used in this study is to use a simple linear regression. The results of this study indicate that the effect of the adoption of the Statement of Financial Accounting Standards 109 has a positive and significant effect on the implementation of Good Governance by 90.9%.

scholarly journals Corporate Social Responsibility Information in Annual Reports in the EU—A Czech Case Study

2019 ◽  
Vol 11 (1) ◽  
pp. 237 ◽  
Author(s):  
Radka MacGregor Pelikánová
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
International Standards ◽  
Annual Reports ◽  
The European Union ◽  
Eu Member States ◽  
Annual Reporting ◽  
Corporate Social ◽  
The Eu

The commitment of the European Union (EU) to Corporate Social Responsibility (CSR) is projected into EU law about annual reporting by businesses. Since EU member states further develop this framework by their own domestic laws, annual reporting with CSR information is not unified and only partially mandatory in the EU. Do all European businesses report CSR information and what public declaration to society do they provide with it? The two main purposes of this paper are to identify the parameters of this annual reporting duty and to study the CSR information provided by the 10 largest Czech companies in their annual statements for 2013–2017. Based on legislative research and a teleological interpretation, the current EU legislative framework with Czech particularities is presented and, via a case study exploring 50 annual reports, the data about the type, extent and depth of CSR is dynamically and comparatively assessed. It appears that, at the minimum, large Czech businesses satisfy their legal duty and e-report on CSR to a similar extent, but in a dramatically different quality. Employee matters and adherence to international standards are used as a public declaration to society more than the data on environmental protection, while social matters and research and development (R&D) are played down.

scholarly journals Deferred Tax Accounting Concepts and Their Bond to the Accounting Ideologies

2021 ◽  
Vol 8 (4) ◽  
pp. 34-50
Author(s):  
A. A. Aksent’ev
Keyword(s):  
Balance Sheet ◽  
Financial Accounting ◽  
Corporate Management ◽  
Controversial Issues ◽  
Deferred Taxes ◽  
Accounting Standard ◽  
Domestic Practice ◽  
Important Object ◽  
Deferred Tax ◽  
Tax Accounting

Deferred taxes are an important object of accounting observation to judge the degree of discrepancies between financial and tax accounting. Meanwhile, the information discloses to users the effects arising from the tax planning tools usage for corporate management and forecasting cash outflows associated with the payment of income tax in the future. The paper formalized two concepts of accounting for deferred taxes in the form of models: temporary and timing differences associated with accounting ideologies. The author ha structured the logic of reflecting deferred taxes on accounting accounts using the balance sheet and “cost” methods. Analysis of foreign experience and domestic practice made it possible to conclude that there are controversial issues on the assessment of deferred taxes in reporting, including at present value. Also, the author revealed discrepancies in Russian Accounting Standard (PBU) 18/02 which were conceptually different from a similar international standard and conflicting with it in a number of theoretical and methodological positions. The research results are aimed at scientific and practical workers in the field of financial accounting, taxation and audit.

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