scholarly journals Comparability of accounting choices in the statement of cash flow: Evidence from Brazil

2018 ◽  
Vol 64 (3) ◽  
pp. 107
Author(s):  
Patricia De Souza Costa ◽  
Aline Fernandes Pinto ◽  
Felipe Menezes Nunes ◽  
Sirlei Lemes
Keyword(s):  
Cash Flow ◽  
Accounting Choices

scholarly journals Incentives for accounting choices in Cash Flows Statements

2020 ◽  
Vol 31 (83) ◽  
pp. 244-261
Author(s):  
Flávia Fonte de Souza Maciel ◽  
Bruno Meirelles Salotti ◽  
Joshua Onome Imoniana
Keyword(s):  
Cash Flow ◽  
Capital Market ◽  
Choice Theory ◽  
Cash Flows ◽  
Future Research ◽  
Panel Data Models ◽  
Accounting Choices ◽  
Regulatory Bodies ◽  
Accounting Rules ◽  
Correct Understanding

ABSTRACT This study sought to identify incentives that influence the accounting choices for classifying interest and dividends received or paid in Cash Flow Statements (CFSs), in the period from 2008 to 2014, in non-financial companies of the Brazilian capital market. The hypotheses refer to the effect of the choice of classification for interest and dividends over cash flow from operations (CFO), according to indebtedness, profitability, size, negative CFO, sector, and auditor. This article seeks to contribute by providing evidence on the accounting choices for classification in CFSs, considering the lack of consensus in the results of studies in the Brazilian capital market and helping to better understand these accounting choices and the incentives behind them. A correct understanding of the information in CFSs is fundamental for them to be useful to their users. The existence of accounting choices for classification in CFSs may directly affect this understanding and, consequently, their usefulness. The results help in better understanding the discretion contained in CFSs, enabling the correct use of their information. They can also generate evidence for regulatory bodies to rethink their accounting rules and for academia to direct future research. Two panel data models were developed, using a sample of 352 companies, 2,290 analyzed reports, and 3,764 data items. The results indicate that companies with a greater level of debt, profitability, and size make their accounting choices in order to report higher CFO in the CFS. The evidence obtained reinforces the international findings and adds new analyses in the Brazilian context, contributing to the development of accounting choice theory.

scholarly journals Escolhas Contábeis na Demonstração dos Fluxos de Caixa: Análise em Empresas da América Latina

2020 ◽  
Vol 23 (3) ◽  
pp. 424
Author(s):  
Denise Fernandes Nascimento ◽  
Ercilio Zanolla
Keyword(s):  
Cash Flow ◽  
Latin American ◽  
Cash Flows ◽  
Publicly Traded ◽  
Publicly Traded Companies ◽  
Logistic Regression Models ◽  
Accounting Choices ◽  
Regulatory Bodies ◽  
Net Assets ◽  
America Latina

ABSTRACTObjective: this study analyzed which characteristics of companies may be associated with accounting choices at DFC in 565 publicly traded companies in Latin American countries, from 2012 to 2016.Method: this study promotes analysis by estimating twelve logistic regression models and using panel data.Originality / Relevance: the study of DFC's accounting choices provides information about changes in net assets, financial structure and the ability of companies to modify resources.Results: The results show that the size of the companies, the negative cash flow and the sector may be related to the choices of interest and dividends received, and dividends paid, indicating that the results for the variables in Brazil are similar to those of Chile and Peru, even in different institutional settings.Theoretical / Methodological contributions: this study contributes by providing an overview of how financial and non-financial companies in different countries show cash flows, especially with regard to DFC's comparability and accounting choices, which can result in increasing operating cash flow. In addition, the study provides evidence of an association between company characteristics and accounting choices at DFC, showing differences in the countries surveyed, in terms of cash flow interests, and, contrary to the objective of regulatory bodies, regarding the standardization of accounting procedures.

scholarly journals Impact of accounting choice of dividends on the company’s value: Initial evidences

2019 ◽  
Vol 38 (2) ◽  
pp. 01-13
Author(s):  
Mariana Titoto Marques ◽  
Bruno José Canassa ◽  
William Aparecido Maciel da Silva ◽  
Jéssica de Morais Lima ◽  
Fabiano Guasti Lima ◽  
...  
Keyword(s):  
Cash Flow ◽  
Free Cash Flow ◽  
Accounting Choice ◽  
Working Capital ◽  
Discounted Cash Flow ◽  
Flow Method ◽  
Accounting Choices ◽  
The Difference ◽  
Accounting Reports ◽  
Discounted Cash Flow Method

The theme "value" always draws attention in discussions because its concept is linked to a high subjectivity. There are many models that try to get to an asset or a company’s value, which in addition to dealing with the subjectivity of the term, also must deal with several projections. The model of free cash flow is quoted in the literature. This method is affected by the variation of working capital which is the difference between assets and liabilities that is considered operational, calculated by Fleuriet’s Model, but to classify as operational is up to the evaluator/analyst. There are many choices for those who prepare the accounting reports too, what is called in the literature as the accounting choices. Example of the accounting choices is the treatment of interest, dividend and interest on shareholders' equity. Thus, if any account is classified as operational, this could impact the calculation of working capital and maybe, the value of a firm. This study analyzed whether there is an impact on the value, calculated by the discounted cash flow method, resulting from the accounting choice of dividends. Starting from the company's cash flow approach, which is affected by working capital, the sample was made by 80 companies in the Bovespa New Market between 2011 and 2015. Based on tests of mean and sign differences, the results confirmed what was expected: the dividend affects the free cash flow calculation and, moreover, should affect the company’s value.

Dividend Payout Ratio: Persoalan Free Cashflow, Debt To Equity Ratio, Kepemilikan Institutional, Investment Opportunity, Dan Kesejahteraan Karyawan

Liquidity ◽  
2017 ◽  
Vol 6 (1) ◽  
pp. 1-11
Author(s):  
Nurlis Azhar ◽  
Helmi Chaidir
Keyword(s):  
Cash Flow ◽  
Significant Influence ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Free Cash Flow ◽  
Manufacturing Companies ◽  
Flow Ratio ◽  
Prediction Ability ◽  
Employee Welfare ◽  
Equity Ratio

This study was conducted to examine the effect of Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) to Divident Payout Ratio (Parliament) partially on manufacturing companies listed on Indonesia Stock Exchange period 2011-2015. In addition, to test the feasibility of regression model, the influence of Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) to Divident Payout Ratio (DPR) simultaneously at manufacturing company listed on Bursa Indonesia Securities period 2011-2015. The population in this study are 146 manufacturing companies that have been and still listed in Indonesia Stock Exchange period 2011-2013. The sampling technique used was purposive sampling and obtained sample of 42 companies. Data analysis technique used is by using multiple linear regression test. The results showed that Free Cash Flow Ratio, no significant effect on Divident Payout Ratio (DPR). Debt Equity Ratio (DER) has a negative and significant influence on Divident Payout Ratio (DPR), Institutional Ownership has a significant positive effect on Divident Payout Ratio (DPR), Employee Welfare and Price Earning Ratio (PER) has a positive and significant influence on the Divident Payout Ratio ). Simultaneously Free Cash Flow Ratio, Debt Equity Ratio (DER), Institutional Ownership, Employee Welfare and Price Earning Ratio (PER) give effect to Divident Payout Ratio. The prediction ability of the five variables to the Divident Payout Ratio (DPR) is 21.3% as indicated by the adjusted R square of 0.271 while the remaining 79.7% is influenced by other factors not included in the research model.

ECONOMIC ANALYSIS OF TRAVEL COMPANIES CASH FLOW

2019 ◽  
Author(s):  
Valentine Tarasova ◽  
Iryna Kovalevska
Keyword(s):  
Economic Analysis ◽  
Cash Flow

Pengaruh Jumlah Dewan Komisaris, Leverage, Profitabilitas, Intensitas Modal, Cash Flow, Dan Ukuran Perusahaan Terhadap Konservatisme (Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012-2017)

2019 ◽  
Vol 8 (1) ◽  
pp. 17-24
Author(s):  
Siti Suharni ◽  
Arini Wildaniyati ◽  
Dea Andreana
Keyword(s):  
Cash Flow ◽  
Sampling Method ◽  
Stock Exchange ◽  
Secondary Data ◽  
Capital Intensity ◽  
Financial Statements ◽  
Descriptive Statistics ◽  
Company Size ◽  
Manufacturing Companies ◽  
Financial Reports

This study is aimed at examining the effects of the Number of Board of Commissioners, Leverage, Profitability, Capital Intensity, Cash Flow, and Company Size toward Conservatism in the manufacturing companies listed on the Indonesian Stock Exchange (IDX). The population used in this study is the yearly financial statements on firm of manufacturing listed at BEI period 2012-2017, using purposive sampling method. The type of data used is secondary data obtained from yerly financial reports published and downloaded through the official BEI website. Data analyzed with Descriptive statistics, test of classic assumption and exmination of hypothesis with multiple linier regression method. The result of hypothesis research shows variable Profitability and Cash Flow have a significant effect on the ability of Conservatism, while the Number of Board of Commissioners, Leverage, Capital Intensity, and Company Size has no effect on the ability of Conservatism.

Hungarian small business tax and possibilities to minimize distortions from capital income taxation

2015 ◽  
Vol 37 (s1) ◽  
pp. 87-105
Author(s):  
Benedek Nobilis ◽  
András Svraka
Keyword(s):  
Small Business ◽  
Cash Flow ◽  
Capital Accumulation ◽  
Value Added ◽  
Regulatory Elements ◽  
Capital Income ◽  
Potential Growth ◽  
Elegant Method ◽  
Business Tax ◽  
Working Out

Governments throughout the EU and OECD countries rely on revenues raised on capital income. Albeit several arguments can be made for keeping these taxes, in their widespread form they hinder capital accumulation and significantly lower potential growth due to their savings and investment distorting nature. At the same time, the actual economic impact of tax types is largely influenced by their structure. An elegant method, which is also simple in its concept, for eliminating the economic distortions of profit taxes is cash-flow taxation which moves income taxes closer to the more growth-friendly value-added taxes. The small business tax, which was introduced in Hungary in 2013, was designed along these principles. In this paper we review the theoretical literature on cash-flow taxation and discuss the main regulatory elements of the small business tax, as well as the solutions elaborated for working out the challenges related to its implementation.

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