Co-operatives and the Equity-Liabilities Puzzle: Concerns for Accounting Standard-Setters

2012 ◽  
Vol 26 (4) ◽  
pp. 767-787 ◽  
Author(s):  
Germán López-Espinosa ◽  
John Maddocks ◽  
Fernando Polo-Garrido
Keyword(s):  
Classification Criteria ◽  
European Countries ◽  
Financial Instruments ◽  
Accounting Standard ◽  
Joint Project ◽  
Upper Limit ◽  
Net Assets ◽  
The U.S ◽  
Jel Classifications

SYNOPSIS: The IASB/FASB joint project on Financial Instruments with Characteristics of Equity (formerly Liabilities and Equity) has highlighted the complexity and the associated difficulty of drawing the line between liabilities and equity. While classification difficulties have been identified for investor-owned businesses (IOB), the inconsistency of the different approaches being considered is clearer when applied to classification of the financial instruments of co-operatives whose ownership characteristics differ from the IOB model. In co-operatives the existence of an upper limit on members' claims on the net assets while the co-operative is a going concern is a key ownership characteristic. We have examined the characteristics of co-operative member shares in six European countries as well as in the U.S. and in Canada, in order to analyze the application of the various classification approaches under discussion by the IASB and FASB. The results of this analysis indicate that classification criteria based on ownership must take account of the fact that ownership is multidimensional and contingent on the type of firm. JEL Classifications: M41, P13.

scholarly journals Risk management in the group of companies n the distribution of funds

2021 ◽  
Vol 14 (2) ◽  
pp. 223-230
Author(s):  
L. N. Gerasimova
Keyword(s):  
Risk Management ◽  
Classification Criteria ◽  
Investment Projects ◽  
Holding Company ◽  
Key Concepts ◽  
Net Assets ◽  
The Impact ◽  
The Relationship ◽  
Authorized Capital

The article discusses the mechanisms of distribution of funds within a group of companies and analyzes the risks that arise in various situations. It is shown that the risks depend on the type of interdependence of companies, the impact on subsidiaries, etc., the classification of holdings with the characteristics of key concepts is given. The classification criteria are considered: the type of interdependence of companies, the influence of the parent company, the nature of the relationship. Examples of the structure of a group of companies are presented. The processes of financing the operating activities of the holding company, in which the management company distributes the group’s funds to its subsidiaries in order to make the business profitable, are analyzed. The processes of financing investment projects of subsidiaries involving the provision of specific projects with resources are analyzed and the current options for reallocating funds in the group are shown, taking into account the risks. The methods of using business contracts, intra-group loans in the redistribution of money within the group are considered. The variants of their optimal use in various situations are shown. There are three main types of risks that you need to pay attention to first of all: a decrease in net assets, cash gaps and taxes. Taking into account these areas, the methods of reducing the risks of intra-group financing are described and recommendations are given on what to do in these situations. The formula for calculating net assets is presented, the calculation of which is carried out in order to compare the value of net assets with the value of the authorized capital. Methods of reducing the risk of cash gaps are considered. Tax risks are analyzed and measures to reduce them are proposed.

Financial Reporting Outcomes under Rules-Based and Principles-Based Accounting Standards

2012 ◽  
Vol 26 (4) ◽  
pp. 681-705 ◽  
Author(s):  
Denton L. Collins ◽  
William R. Pasewark ◽  
Mark E. Riley
Keyword(s):  
Financial Reporting ◽  
Experimental Work ◽  
Strong Evidence ◽  
Accounting Standards ◽  
Matched Sample ◽  
Accounting Standard ◽  
Lease Accounting ◽  
The U.S ◽  
Archival Study

SYNOPSIS: This archival study addresses whether the presence or absence of “bright lines” in a lease accounting standard influences the classification of leases as capital or operating. To the best of our knowledge, our study is the first archival research to address the association between lease classification decisions and the use of U.S. GAAP and IFRS lease accounting standards. We examine firms' lease classification decisions using 2007–2009 data from a matched sample of members of the Fortune Global 500 that report under U.S. GAAP and IFRS. Consistent with experimental work by Agoglia et al. (2011), we find strong evidence that U.S. GAAP firms using a lease standard containing bright-line guidance (i.e., ASC 840) are more likely to classify leases as operating than IFRS firms adhering to a lease accounting standard that lacks the bright lines of the U.S. standard (i.e., IAS 17). Also consistent with Agoglia et al. (2011), we find little evidence of increased dispersion accompanying financial reporting under IFRS. In fact, we find some evidence suggesting the use of IFRS may actually lead to lower dispersion in reporting outcomes.

DONG SON BRONZE DRUM - THE WORK OF THE LAC VIET PEOPLE

2018 ◽  
Author(s):  
Nguyen Van Hao
Keyword(s):  
Classification Criteria ◽  
Way Of Life ◽  
Tribal Identity ◽  
The Relationship

Bronze drums are widely distributed, broader than the range of a nation. Therefore, the identification of each kind of drum is a basic subject, should be concerned. In determining the tribal identity of the drum, the classification of drum is the key stage, the relationship between the objective of the classification and classification criteria is the relation as shape and shadow, if there is no right criteria then the result of division will be difficult to reach the desired goal. Likewise, the criterion of the pattern on the bronze drum brought to the affirmation is the Dong Son bronze drum of the Lac Viet people. And the parallel is the affirmation of the culture, way of life, residence of the nation created the drum.

THE SEC PREEMPTS THE ACCOUNTING PRINCIPLES BOARD IN 1965: THE CLASSIFICATION OF THE DEFERRED TAX CREDIT RELATING TO INSTALLMENT SALES

2007 ◽  
Vol 34 (1) ◽  
pp. 1-23 ◽  
Author(s):  
Stephen A. Zeff
Keyword(s):  
Securities And Exchange Commission ◽  
Accounting Practice ◽  
Slow Pace ◽  
Accounting Principles ◽  
Private And Public ◽  
Deferred Tax ◽  
Accounting Procedure ◽  
The U.S ◽  
Do So

In 1959, the Accounting Principles Board (APB) replaced the Committee on Accounting Procedure because the latter was unable to deal forthrightly with a series of important issues. But during the APB's first half-dozen years, its record of achievement was no more impressive than its predecessor's. The chairman of the Securities and Exchange Commission (SEC), Manuel F. Cohen, criticized the APB's slow pace and unwillingness to tackle difficult issues. This article discusses the circumstances attending the SEC's issuance of an Accounting Series Release in late 1965 to demonstrate forcefully to the APB that, when it is unable to carry out its responsibility to “narrow the areas of difference” in accounting practice, the SEC is prepared to step in and do so itself. In this sense, the article deals with the tensions between the private and public sectors in the establishment of accounting principles in the U.S. during the mid-1960s. The article makes extensive use of primary resource materials in the author's personal archive, which have not been used previously in published work.

scholarly journals UV Spectral Classification of B Stars

1985 ◽  
Vol 111 ◽  
pp. 411-413
Author(s):  
Janet Rountree ◽  
George Sonneborn ◽  
Robert J. Panek
Keyword(s):  
Classification System ◽  
Classification Criteria ◽  
High Dispersion ◽  
Spectral Classification ◽  
Early Type ◽  
B Stars ◽  
Dimensional Classification ◽  
Early Type Stars ◽  
Comprehensive Classification

Previous studies of ultraviolet spectral classification have been insufficient to establish a comprehensive classification system for ultraviolet spectra of early-type stars because of inadequate spectral resolution. We have initiated a new study of ultraviolet spectral classification of B stars using high-dispersion IUE archival data. High-dispersion SWP spectra of MK standards and other B stars are retrieved from the IUE archives and numerically degraded to a uniform resolution of 0.25 or 0.50 Å. The spectra (in the form of plots or photowrites) are then visually examined with the aim of setting up a two-dimensional classification matrix. We follow the method used to create the MK classification system for visual spectra. The purpose of this work is to examine the applicability of the MK system (and in particular, the set of standard stars) in the ultraviolet, and to establish classification criteria in this spectral region.

scholarly journals Classification of Compact Objects: QSS, QSOs, N-Type and Compact Galaxies, Seyfert and Galactic Nuclei

1972 ◽  
Vol 44 ◽  
pp. 97-103
Author(s):  
W. W. Morgan
Keyword(s):  
Galactic Nuclei ◽  
Seyfert Galaxy ◽  
Classification Criteria ◽  
Compact Objects ◽  
Stellar Objects ◽  
Quasi Stellar Objects ◽  
Compact Galaxies

Some methods currently in use for the classification of the optical forms of the ‘compact’ galaxies and quasi-stellar objects are reviewed. It is shown that the category ‘Seyfert Galaxy’ is basically a spectroscopic (rather than a form) classification.An optical form-classification is described which is, in principle, identical with published classification criteria for QSO, N-type, and compact objects. The importance of maintaining rigid form-standards is emphasized.

Classification of Japanese patients with mild/early systemic sclerosis (SSc) by the 2013 ACR/EULAR classification criteria for SSc

2016 ◽  
Vol 27 (4) ◽  
pp. 614-617 ◽  
Author(s):  
Yuka Ikawa ◽  
Yasuhito Hamaguchi ◽  
Naoki Mugii ◽  
Takashi Matsushita ◽  
Kazuhiko Takehara
Keyword(s):  
Systemic Sclerosis ◽  
Japanese Patients ◽  
Classification Criteria ◽  
Early Systemic Sclerosis

scholarly journals Features of Inheritance of Cryptocurrency Assets

2021 ◽  
Vol 10 (1) ◽  
pp. 103-122
Author(s):  
Oleksandr Omelchuk ◽  
Inna Iliopol ◽  
Snizhanna Alina
Keyword(s):  
Legal Status ◽  
Legal Regulation ◽  
European Countries ◽  
Electronic Money ◽  
Applicable Law ◽  
Legal Nature ◽  
The World ◽  
Functional Features ◽  
Made In

The article analyzes the legal nature and specific of legal regulation of cryptocurrency in order to reveal the features of inheritance of cryptocurrency assets. The article aims to reveal whether it is possible to inherit cryptocurrency in terms of the existent legislation and if so, what kind of peculiarities of cryptocurrency should be considered. The financial and legal nature of cryptocurrency are described in the article. The main differences between cryptocurrency and traditional electronic money are revealed. The current legislation of Ukraine and some European countries on cryptocurrency legal status is analyzed. It is stated, that in most countries of the world, cryptocurrency is not considered to be money or currency, but rather a kind of property. It is noted, that while solving the issue of inclusion of cryptocurrency assets in the legacy, it is necessary to take into account the functional features of cryptocurrencies in general and the specifics of a particular type of cryptocurrency. Most of the benefits of cryptocurrencies for their owner (such as anonymous character) are obstacles to their inheritance according to the procedures provided by applicable law. The classification of the methods of inheritance of cryptocurrency assets is made in the article. The differences in the inheritance of cryptocurrency and tokens are revealed.

Sign in / Sign up

Export Citation Format

Share Document