scholarly journals Inflation Accounting in Terms of Tax Legislation and Accounting Standards in Turkey

2022 ◽  
pp. 19-30
Author(s):  
Naim VAROL
Keyword(s):  
Accounting Standards ◽  
Tax Legislation ◽  
Inflation Accounting

THE END OF BETTERMENT ACCOUNTING: A STUDY OF THE ECONOMIC, PROFESSIONAL, AND REGULATORY FACTORS THAT FOSTERED STANDARDS CONVERGENCE IN THE U.S. RAILROAD INDUSTRY, 1955–1983

2007 ◽  
Vol 34 (1) ◽  
pp. 25-55 ◽  
Author(s):  
Jan R. Heier ◽  
A. Lee Gurley
Keyword(s):  
21St Century ◽  
Accounting Standards ◽  
Interstate Commerce Commission ◽  
Early 21St Century ◽  
Railroad Industry ◽  
Tax Legislation ◽  
Industry Standards ◽  
Securities Industry ◽  
Arthur Andersen ◽  
The U.S

On January 26, 1983, the Interstate Commerce Commission (ICC) announced that it would require all railroads under its regulatory jurisdiction to change from Retirement-Replacement-Betterment (RRB) accounting, to a more theoretically sound depreciation accounting for matching revenues and expenses. The change was needed because RRB did not allow for the recapture of track investment, leaving the railroads with limited capital to replace aging track lines. Over the previous three decades, it had become painfully obvious to everyone that the industry's economic woes were the result of archaic accounting procedures that lacked harmony with the rest of American accounting standards, but the ICC was reluctant to change until new tax legislation in the early 1980s forced the issue. The decision was a culmination of a debate that started in the mid-1950s when Arthur Andersen, with the help of the securities industry, began an effort to harmonize railroad and industry standards using arguments that mirror those supporting the international accounting harmonization efforts of the early 21st century.

Adoption of IFRS in Brazil and the Consequences to Accounting Education

2012 ◽  
Vol 28 (2) ◽  
pp. 235-242 ◽  
Author(s):  
L. Nelson Carvalho ◽  
Bruno M. Salotti
Keyword(s):  
Income Tax ◽  
Rare Case ◽  
Accounting Standards ◽  
Financial Statements ◽  
Company Law ◽  
Accounting Education ◽  
Consolidated Financial Statements ◽  
Tax Legislation ◽  
The Individual ◽  
Safe Path

ABSTRACT: Brazil is a rare case of a complete adoption of IFRS, not only for consolidated financial statements, but also for the individual ones. Very few countries dared to converge their accounting standards toward IFRS in the company-only financial statements, probably afraid of the tax or dividends impact. Brazil made the ambitious move, changing the Company law and altering the income tax legislation in such a way that a safe path was built to bridge from the old BR GAAP standards to IFRS.

scholarly journals Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications

2010 ◽  
Vol 58 (3) ◽  
pp. 55-66
Author(s):  
Jana Gláserová ◽  
Milena Otavová
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Legal Form ◽  
Financial Leasing ◽  
Tax Legislation ◽  
True Value ◽  
Real Value ◽  
The Subject ◽  
Accounting Units

There is intensive effort of the harmonisation of accounting in the world. Primary sence of harmonisation is ensured that individual financial statements of all accounting units were comparable. Notwithstanding there are still significant differences in same areas. This contribution is aimed at define of posting and showing financial leasing according to Czech accounting legislation and international accounting standards IAS/IFRS, and determination of significant differences in these legislation.The leasing is one of the form of purchase of property. So International Accounting Standards require so that a tenant (leasee) notices the subject of leasing in his assests and correlationally with obligation. After that the subject of leasing can be amortized. Argument for this way of billing is the fact, that the tenant (leasee) obtaines economic gain from use of the subject of leasing during its essential economic lifetime. For it the tenant (leasee) has to pay an amount that is about equal to real value and financial costs.The companies recording leasing according to czech legal form this fact do not record in accounting so value of their assests and obligations is lower than their actual (true) value. This procedure dis­fi­gu­res financial indicators to be important for review of financial situation of company according to International accounting standardsBecause financial leasing is the most favourite form of leasing relation, the aim of this article is determination all changes in tax legislation to be related to financial leasing during three last years. And of course outline effect of these changes on the leasing market.

scholarly journals Grounds For Allowing A Tax Deduction For Employee Share Incentives

2015 ◽  
Vol 14 (5) ◽  
pp. 763
Author(s):  
Herman Van Dyk
Keyword(s):  
South African ◽  
Tax Policy ◽  
Agency Problem ◽  
Accounting Standards ◽  
Financial Statements ◽  
Tax Legislation ◽  
Tax Deduction

Share-based payments have become a popular form of employee remuneration, largely due to its potential to address the agency problem, and are especially effective when made to senior employees. Accounting standards require companies to report share-based payments made to employees as expenses in their financial statements, but extant South African tax legislation does not permit a deduction, where shares are awarded, to serve as incentives for senior employees. This is due to the fact that the courts do not view the issue of a companys own shares as expenditure. South African tax legislation presently contains a special tax deduction for shares awarded to employees, but this provisions restrictive requirements and low monetary limit is inadequate where the intention is to provide adequate incentives to senior employees in order to address the agency problem. The objective of this paper is to evaluate whether sufficient grounds exist, based on the principles of sound tax policy, for the legislature to enact a special tax deduction for share-based payments, that would serve as an adequate incentive to senior employees. The evaluation found that the current tax position infringes upon several principles of sound tax policy and that an intervention by the legislature is required.

Inflation accounting—more headaches for production engineers

1977 ◽  
Vol 56 (5) ◽  
pp. 12
Author(s):  
Robert E. Burns
Keyword(s):  
Inflation Accounting

What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

VAT Refund under Conditions of Zero Tax Rate

2007 ◽  
pp. 120-136
Author(s):  
R. Saakyan ◽  
I. Trunin
Keyword(s):  
Comparative Analysis ◽  
Point Of View ◽  
Tax Administration ◽  
Tax Rate ◽  
Export Sector ◽  
Tax Legislation

Main directions of tax legislation development are considered in the article from the point of view of relevancy of zero tax rate implementation and tax refund. Special emphasis is placed on the problem of tax refund delay that undermines the competitiveness of the export sector of economy. Comparative analysis of VAT refund mechanisms in different countries and Russia with respect to effectiveness of tax administration has allowed to formulate some hypotheses concerning relevant parameters of refund and test them with the help of various methods and models.

Tax competition and the activity of the regional tax policy

2020 ◽  
pp. 5-27
Author(s):  
S. M. Drobyshevsky ◽  
N. S. Kostrykina ◽  
A. V. Korytin
Keyword(s):  
Tax Competition ◽  
Tax Policy ◽  
Fiscal Federalism ◽  
Policy Instruments ◽  
Tax Incentives ◽  
Fiscal Autonomy ◽  
Tax Legislation ◽  
Tax Exemptions ◽  
Open Question ◽  
Regional Budgets

The problem of efficiency of regional tax expenditures is an actual issue of the fiscal policy and fiscal federalism in Russia. A large fiscal autonomy allows federal subjects to realize a more active tax policy to attract new investments. One cannot claim current fiscal powers of the Russian regions to be wide. However, not all the regions use even existing tax policy instruments. Moreover, out of the regions that use them only few provide incentives to stimulate investment decisions. Others use regional tax measures to support businesses that already have strong positions in the region. And it is an open question whether such tax incentives are efficient. On the other hand, an aggressive tax competition for investors can also be wasteful for regional budgets. In this paper, we calculate indicators that characterize the depth and scope of tax exemptions provided at the regional level. The calculations are based on the open tax statistics. Through the analysis of the tax legislation as well as the economic structure of selected regions, we reveal the inducements of their higher activity: federal regional tax policy, tax competition or benefits for budget-forming companies of the region.

Beyond Financial Reporting. Integrated Reporting and its determinants: Evidence from the context of European state-owned enterprises

2019 ◽  
pp. 43-72
Author(s):  
Giuseppe Nicolò ◽  
Gianluca Zanellato ◽  
Francesca Manes-Rossi ◽  
Adriana Tiron-Tudor
Keyword(s):  
Financial Reporting ◽  
Empirical Investigation ◽  
Gender Diversity ◽  
Accounting Standards ◽  
International Accounting Standards ◽  
Integrated Reporting ◽  
Financial Reports ◽  
The Public ◽  
Explanatory Factors ◽  
Board Gender Diversity

Integrated reporting (IR), which aims to overcome the limitations of both tradi-tional financial and stand-alone non-financial reports, has gained momentum as a single comprehensive tool merging financial and non-financial information. Initially conceived for private sector entities, IR is also establishing itself in the public sector context as a vehicle for transparency and accountability. This research offers an empirical investigation of IR practices in the State-Owned Enterprises (SOEs) context. More specifically, the paper investigates the levels of disclosure provided through IR by a sample of 34 European SOEs and explores the effects of potential explanatory factors. The results indicate a fair level of IR disclosure and a trend of reporting information already requested under international accounting standards. The findings also highlight that industry (basic materials and financials) and size positively influence the level of IR disclosure in a particularly strong way, while governance features (board size and board gender diversity) and the provision of external assurance do not exert any impact.

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