scholarly journals COVID-19 and the related accounting considerations in preparing financial statements and disclosure requirements

2020 ◽  
Vol 5 (2) ◽  
Author(s):  
Ghias Khan
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Ifrs Adoption ◽  
Current Period ◽  
Disclosure Requirements ◽  
The World ◽  
The Subject ◽  
The Government ◽  
The Way

The purpose of this case study is to examine the impacts of COVID-19 on financial reporting from the different view sides of IFRS disclosure requirements. Most of the countries in the world carrying the effects of COVID-19 and nearly a quarter of the population is quarantined and most of the business is in lockdown condition. As a result of the businesses working online as well as change their pattern of operations due to COVID-19 pandemic. The government also imposes legislation related to it and there must be significant changes in IFRS implication concerning pandemic to improve the situation in all the way. A questionnaire has been prepared and send to the concerned officials of the company in the subject here to ascertain the facts related to the implications of IFRS adoption in the current period of the pandemic. The questionnaire covers around 31 aspects related to disclosures as per IFRS and the study here analyzes how Unilever Pakistan Limited adopted these changes or in which areas still following the same policy without impacting COVID-19.

Accounting for modifications to the lease agreement in the lessee's financial reporting

2020 ◽  
Vol 23 (11) ◽  
pp. 1198-1219
Author(s):  
I.A. Lisovskaya ◽  
N.G. Trapeznikova
Keyword(s):  
Financial Reporting ◽  
Systems Analysis ◽  
Financial Management ◽  
Financial Statements ◽  
Professional Judgment ◽  
Regulatory Documents ◽  
The Subject ◽  
Lease Contracts ◽  
Correct Understanding ◽  
The Way

Subject. In their financial statements for 2022 and later on, the Russian entities will have to apply FSBU 25/2018 – Accounting for Lease if they need to recognize lease transactions. As FSBU 25/2018 fails to clearly regulate the procedure for recognizing contractual modifications, we examined approaches provided by IFRS 16 – Lease and illustrate how such modifications should be presented in the lessee's financial statements. Objectives. We make suggestions on the way modifications of lease contracts should be recognized in the lessee's financial statements with reference to its preparation to the adoption of FSBU 25/2018. Methods. The study relies upon the systems analysis and logic summary of legislative and regulatory documents and special literature on the subject. Results. Illustrating some cases, we showcase how various types of modifications influence figures in financial statements. We also provide the rationale for a professional judgment on the correct understanding of various aspects of such modifications in terms of IFRS 16. Conclusions. The adoption of FSBU 25/2018 will entail considerable preparations, since it substantially alters the way lease transactions are accounted for. Adapting the logic of IFRS 16 to the Russian context, FSBU 25/2018 unfolds the basic approach to accounting for such transactions. However, some complicated practical issues are overlooked in FSBU 25/2018. Therefore, it is reasonable to make methodological clarifications on the way modifications of lease contracts should be correctly recognized, including implications of COVID-19, which considerably influence the scale of business and the need of many entities to lease items. The findings are intended for research and practice, training on accounting and financial management. They also may underlie suggestions on the improvement of the Russian accounting technique pursuing the convergence of modern international practices.

‘Shrieking soldiers … wiping clean the earth’: hearing apocalyptic environmentalism in the music of Botanist

Popular Music ◽  
2019 ◽  
Vol 38 (03) ◽  
pp. 481-497
Author(s):  
Olivia R. Lucas
Keyword(s):  
Black Metal ◽  
The Earth ◽  
The World ◽  
Extreme Metal ◽  
The Way

AbstractThis article presents a case study of ecocritical black metal, delving into the apocalypticism of the California-based black metal band Botanist, who conjures a world in which plants have violently destroyed human civilisation. It first contextualises Botanist amidst the broader current of environmentalism in extreme metal as well as within wider cultural explorations of plants as subjective beings capable of violence. The article then examines how Botanist taps into the logic of apocalyptic environmentalism, as the music presents the essential narrative of apocalyptic bioterrorism: humanity, with wanton hubris, has sown the seeds of its own destruction, and earned whatever horrors befall it on the way to elimination. With its bleak outlook and strident sound world, Botanist's music threatens to destabilise listeners’ assumptions about their place in the world and offers an example of what apocalyptic ecological urgency in music could sound like.

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.

scholarly journals The Effect of Islamic Revolution on the Muslim’s Intellectual Schools Case Study of Libya and Tunisia

2016 ◽  
Vol 9 (2) ◽  
pp. 1
Author(s):  
Jaseb Nikfar ◽  
Ali Mohammadi ◽  
Ali Bagheri Dolatabadi ◽  
Alireza Samiee Esfahani
Keyword(s):  
The Political ◽  
Analytic Method ◽  
Islamic Revolution ◽  
General Direction ◽  
The North ◽  
The World ◽  
The Government ◽  
Islamic Values

Nowadays the discussion of intellectual schools in the world, especially in the north of Africa is very important for the political analysts. The intellectual roots that existed in these regions from the beginning of independence were more toward the Islam. These roots mostly revealed themselves after the victory of Islamic revolution. The formation of Iran’s Islamic revolution on the top of west and east blocks’ mutuality was a paradigm of general direction of religions and Islamic values for forming the government. This article uses description- analytic method to investigate the effects of Islamic revolution on the Muslim’s intellectual schools in the north of Africa. Two main questions are How and in what direction has the Islamic revolution happening affected the Muslim’s intellectual schools in Libya and Tunisia? Findings of the research shows that with regards to the Muslim’s intellectual backgrounds that before the Islamic revolution existed, in these countries Islamic revolution caused the reinforcement and doubled motivation for these groups. But, yet the reinforcement of the activity of these groups caused their mutuality with the government and increase of violence and insecurity.

scholarly journals Meditation Tourism, Buddhist Philosophy in Practice: A Case Study of Lumbini, Nepal

2020 ◽  
Vol 11 (1) ◽  
pp. 37-59
Author(s):  
Netra Prasad Sharma
Keyword(s):  
Research Study ◽  
National Development ◽  
Meditation Practice ◽  
Tourist Destination ◽  
The Core ◽  
Spiritual Tourism ◽  
Religious Tourism ◽  
The World ◽  
The Government

The dimensions of travelling and tourism have become manifold in recent decades. People love to travel with various purposes. Religious tourism, yoga tourism, peace tourism and spiritual tourism are some dimensions. Lumbini can be a best destination for meditation tourism, which could be much rewarding for individual, social and national development. The travelers and stakeholders have yet to be aware of this aspect. In Buddhism, Lumbini is a best destination for meditation tour. Exploring the importance of travelling Lumbini for meditation is the main objective of this article. Tourists and pilgrims would benefit immensely if they understand the significance of meditation tourism to Lumbini, its philosophy and practice. This article aims to explore the spiritual significance of Lumbini and it will provide visions of a purposeful development and publicity that would shape Lumbini as a best destination for meditation tourism. The government and private sectors are interested to develop Lumbini as best tourist destination. People all over the world are attracted to visit Lumbini for different reasons. Most tourists are unaware of the core aspect of visiting Lumbini. People who visit Lumbini are unaware about meditation practice or involving in charity works. Meditation and compassion are the core aspects of Buddha’s teachings, which are neither realized nor practiced. There seems a vast gap between the actual philosophy of Buddhism and the attitude of most of the visitors. This research study attempts to reveal the significance of meditation tourism in Lumbini.

scholarly journals Employment Opportunities And Human Resources Development In Digital Era: A Case Study In Industrial Sector

2018 ◽  
Vol 8 (2) ◽  
pp. 159-168
Author(s):  
Devi Asiati ◽  
Gutomo Bayu Aji ◽  
Vanda Ningrum ◽  
Ngadi Ngadi ◽  
Triyono Triyono ◽  
...  
Keyword(s):  
Industrial Sector ◽  
Production Equipment ◽  
Improvement Program ◽  
Digital Era ◽  
Local Resources ◽  
The World ◽  
The Government ◽  
Machine Replacement ◽  
The Impact

Transformation of digitalization in large industries has an impact on the automation of production equipment, including the replacement of production machines from conventional machines (manual) to digital machines. Meanwhile, automation of production equipment requires workers with higher skills, in fact the existing workforce does not have expertise in carrying out all-digital equipment. The impact is a reduction in labor (layoffs). Machine replacement is done in stages so that the reduction of workforce (PHK) in bulk is not visible. However, the inconsistency between the preparation in the world of education and the needs in the world of work continues to occur today. Until now, vocational development based on local resources has not been operating optimally and needs serious attention from the local government. The government on various occasions mentioned four leading sectors that will be strengthened in the development of vocational institutions, namely maritime, tourism, agriculture (food security), and the creative industry. In addition, the government is also developing a policy scheme for Skill Development Funds (SDF), which is a skills improvement program for workers affected by automation (PHK), including through Vocational Training Center (BLK).

scholarly journals A literature review on the impact of IAS/IFRS and regulations on quality of financial reporting

2016 ◽  
Vol 6 (4) ◽  
pp. 102-114 ◽  
Author(s):  
Newman Wadesango ◽  
Edmore Tasa ◽  
Khazamula Milondzo ◽  
Ongayi Vongai Wadesango
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Reporting Quality ◽  
Financial Statements ◽  
Conclusive Evidence ◽  
Financial Reporting Quality ◽  
International Accounting Standards ◽  
Ifrs Adoption ◽  
The Impact

The International Accounting Standards Board (IASB) in its objectives and preamble, presume that IFRS adoption and perceived compliance to regulatory framework is associated with increased financial reporting quality. Based on these assumptions, this desktop study reviewed several documents to determine whether the IFRS adoption has led to increased financial reporting quality in Zimbabwe. The researchers reviewed literature on how the IAS/IFRS and regulations affect the financial reporting quality of listed companies. The factors around IFRS adoption were identified (mandatory, voluntary and convergence) and discussed in relation to the financial reporting quality. Evidence from previous studies conducted in line with this same issue shows that there is no conclusive evidence on how IFRS and regulations affect the financial reporting quality. Issues to be addressed in further studies include the importance of financial statements prepared under IFRS framework and the importance of compliance with accounting and auditing requirements.

scholarly journals The Influence of IFRS Adoption

2021 ◽  
Author(s):  
Feng C. Xu
Keyword(s):  
Financial Reporting ◽  
Reporting Quality ◽  
Financial Reporting Quality ◽  
Main Question ◽  
Accounting Disclosure ◽  
Ifrs Adoption ◽  
The Subject

This paper aims to present a thorough theoretical coverage to the subject studied by focusing on the concepts in companies as general, and accounting disclosure, test the selected hypothesis, obtain satisfying results to the research in an appropriate manner that consists with the problem studied and hypotheses, and find a reasonable answer to main question that is (Does IFRS adoption in the large banks improve financial reporting quality?) based on the main hypotheses which are financial reporting quality has not improved after IFRS adoption in the large banks, and financial reporting quality has improved after IFRS adoption in the large banks.

scholarly journals Implementation of Markov Chain in Detecting Opportunities for Natural Disasters in Klaten (Case Study: Number of Floods, Landslides, and Hurricanes 2019-2020)

2021 ◽  
Vol 1 (2) ◽  
pp. 58-67
Author(s):  
Afdelia Novianti ◽  
Dina Tri Utari
Keyword(s):  
Markov Chain ◽  
Natural Disasters ◽  
Human Life ◽  
The Other ◽  
Future Period ◽  
The Past ◽  
Current Period ◽  
Markov Chain Method ◽  
The Government

Java Island is one of the areas that is very fertile and densely populated, but on the other hand, Java Island is also one of the areas that is most frequently hit by natural disasters, one of which is Klaten Regency. Natural disaster itself is an event that threatens and disrupts human life caused by nature. Some of the natural disasters that often occur simultaneously in Klaten Regency are floods, landslides, and hurricanes. These three disasters usually occur during the rainy season. This of course makes the government need to take action by seeing the large chance of a disaster occurring in order to optimize disaster management. Then research will be carried out that aims to determine the chances of natural disasters occurring in the next few years. Forecasting will be carried out using the Markov chain method, with this method the probability value of the future period can be estimated using the current period probability value based on the characteristics of the past period. So that the value of the steady state chance of floods and landslides in period 36 (December 2023) and hurricanes in period 15 (March 2022) with the chances of a disaster are 34.21%, 15.38%, and 73.53%, respectively.Received August 31, 2021Revised October 27, 2021Accepted November 11, 2021

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