scholarly journals Net Pension Liability Impact on School Districts after Incorporation of Governmental Accounting Standards Boards (GASB) Statement Number 68

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Michael J. Gallagher ◽  
Emily F. Gallagher
Keyword(s):  
Public Schools ◽  
School Districts ◽  
Market Access ◽  
Balance Sheet ◽  
Data Retrieval ◽  
Financial Statements ◽  
Potential Effect ◽  
Fiscal Year ◽  
Pension Benefits

This paper analyzes twenty school districts in the state of Pennsylvania and applies ratio analysis to understand the potential effect of GASB number 68 on the financial statements of these entities.  The financial statements were picked on a random basis from the Electronic Municipal Market Access [1] database. EMMA is a research and data retrieval system of the Municipal Securities Rulemaking Board (MSRB). The MSRB provides resources to trade municipal bonds and access to the financial statements of entities selling these securities. The paper was developed as a result of the requirement by GASB to “recognize their long-term obligation for pension benefits as a liability for the first time, and to more comprehensively and comparably measure the annual costs of pension benefits” [2]. The public schools in Pennsylvania incorporated GASB number 68 for the fiscal year ended June 30, 2015 and restated the financial statements for the fiscal year ended June 30, 2014. The effects of these restatements created a situation where most of these districts now show a negative fund balance caused by an increase of liabilities of over one hundred percent. Many of the decision makers are uncertain of the long-term changes that this recognition will have on the operations of the school district. Bond ratings have suffered because of the volatility and uncertainty causing negative effects on the balance sheet, increased current recognition of pension expenses, and a possible interest rate increase. All of these effects are illustrated in this paper. This is at a time where many people are questioning the performance of many of the school districts.

scholarly journals FSBu 25/2018 “Accounting for Leases”   and IFRS 16 “Leases”: A comparative Analysis of Key Provisions

2020 ◽  
Vol 6 (6) ◽  
pp. 42-51
Author(s):  
V. S. Plotnikov ◽  
O. V. Plotnikova
Keyword(s):  
Structural Information ◽  
Balance Sheet ◽  
Financial Statements ◽  
Practical Significance ◽  
Accounting System ◽  
The Subject ◽  
The Cost ◽  
Lease Accounting ◽  
Comparative Description

The article is devoted to the problem of accounting reflection of rental relations, which has been the subject of discussion by professional accountants for more than 100 years. At present, more standards are devoted to this problem in world practice than to other accounting objects. Nevertheless, a number of issues remain unresolved. The methodological framework of the study is based on a comparative description of the provisions of IFRS 16 “Leases” and FSBU 25/2018 “Accounting for Leases” and includes a new institutional theory, Conceptual framework for the presentation of financial statements. The research methodology provides for the reclassification of balance sheet items, which allows for significant structural information regarding the reflection of rental objects. The analysis revealed the following differences in standards: the Russian FSBU 25/2018 unreasonably introduces accounting for leasing transactions into the financial lease accounting system; insufficiently convincingly and without proper evidence the issues of identification of financial lease accounting objects are covered. The prospective direction of accounting for financial leases is the possibility of reflecting the property transferred by the lessee as an element of the cost of financial capital, at the same time, the tenant’s long-term obligations should be recognized as existing obligations. The practical significance of the study is determined by the possibility of reducing the level of debt in the balance of the parties to the lease transaction.

scholarly journals A New Approach for Proper Reporting of Pension Benefit Obligations in the Financial Statements of “Old Funds” for Professionals

2020 ◽  
Vol 13 (8) ◽  
pp. 117
Author(s):  
Carla Morrone ◽  
Maria Teresa Bianchi ◽  
Anna Attias
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Financial Statements ◽  
Pension Benefit ◽  
New Approach ◽  
Income Statement ◽  
Pension Liabilities

In this paper, we focus on the disclosure of pension liabilities for entities referred to in Italian Legislative Decree 30 June 1994 no. 509 (also called “old funds” for professionals), which is crucial for a suitable communication. After illustrating the limits of current statutory financial statements’ in relation to the information they provide on pension benefit obligations, we propose three potential solutions to bridge the gap. Each of these proposals helps ensure the completeness and clarity of financial reporting and improves upon the informational capacity and quality of disclosure. In our opinion, one of these approaches, in particular, would be preferred because of its ease of adoption. Indeed, the disclosure in the explanatory notes allows for the quantification of pension benefit obligations, and hence a more proper evaluation of entities in the medium/long- term, with no impact on annual economic-financial results as reported in the balance sheet and the income statement.

scholarly journals Effect of Leverage on Real Earnings Management: Evidence from Korea

2020 ◽  
Vol 12 (6) ◽  
pp. 2232
Author(s):  
Ana Belen Tulcanaza-Prieto ◽  
Younghwan Lee ◽  
Jeong-Ho Koo
Keyword(s):  
Earnings Management ◽  
Stock Price ◽  
Positive Relationship ◽  
Financial Statements ◽  
Least Square ◽  
Real Earnings Management ◽  
Fiscal Year ◽  
Financial Firms ◽  
The Relationship

This study examines how leverage affects real earnings management (REM) in non-financial firms listed on the Korea Composite Stock Price Index from 2010 to 2018 by employing total, short-term, and long-term debt ratios (i.e., leverage) as independent variables and four REM metrics as dependent variables. We find a significant positive relationship between leverage and REM in suspicious firms, whereas the effect of leverage is insignificant in non-suspicious firms. We also find that the positive relationship between both variables is stronger in the second half of the fiscal year, which shows the prevalence of the seasonality of REM, as managers collect high-frequency financial information during this period. These findings are consistent with those in the literature that managers increase firm leverage and REM activities to reduce their probability of being discovered, since financial statements in the interim quarters are not often audited. Our study complements the literature by introducing quarterly data to identify clearly REM activities and detect the strongest effect on the relationship between REM and leverage. Moreover, our results from the two-stage least square (2SLS) regression analysis are consistent with our previous findings.

scholarly journals ANALISIS PENERAPAN AKUNTANSI ASET TETAP PADA KPPBC TIPE MADYA PABEAN C KANTOR POS PASAR BARU

2021 ◽  
Vol 2 (2) ◽  
pp. 53-70
Author(s):  
Deni Herdiyana ◽  
Muhammad Luqman Rokhim
Keyword(s):  
Balance Sheet ◽  
Field Studies ◽  
Financial Statements ◽  
Fiscal Year ◽  
Post Office ◽  
Fixed Asset ◽  
Financial Reports ◽  
Government Accounting ◽  
Fixed Assets ◽  
Collection Methods

This research is conducted to analyze the the fixed asset accounting policies at KPPBC Type Madya Pabean C Pasar Baru Post Office for financial reports for the 2017-2018 fiscal year. The research method used is through a qualitative approach. To support this research, data collection methods were carried out consisting of literature studies, field studies and interviews. The results of the study can be concluded that the application of fixed asset accounting at KPPBC TMP C Pasar Baru Post Office as a whole is in accordance with the fixed asset accounting policy, however there is a presentation and disclosure of fixed assets in the balance sheet and notes on financial statements that are still not in accordance with government accounting standards and statutory regulations.     Penelitian ini dilakukan untuk menganalisa penerapan kebijakan akuntansi aset tetap pada KPPBC Tipe Madya Pabean C Kantor Pos Pasar Baru untuk laporan keuangan periode tahun anggaran 2017-2018. Metode penelitian yang digunakan adalah melalui pendekatan kualitatif. Untuk mendukung penelitian tersebut, dilakukan metode pengumpulan data yang terdiri dari studi literatur, studi lapangan, dan wawancara. Hasil penelitian dapat disimpulkan bahwa penerapan akuntansi aset tetap pada KPPBC TMP C Kantor Pos Pasar Baru secara keseluruhan telah sesuai dengan kebijakan akuntansi aset tetap, namun masih terdapat penyajian dan pengungkapan aset tetap dalam neraca dan CaLK yang masih belum sesuai dengan standar akuntansi pemerintah dan peraturan perundang-undangan.

Access to String Instruction in American Public Schools

1997 ◽  
Vol 45 (4) ◽  
pp. 650-662 ◽  
Author(s):  
Camille M. Smith
Keyword(s):  
High School ◽  
Public Schools ◽  
School Districts ◽  
Data Retrieval ◽  
School Level ◽  
School Type ◽  
Socioeconomic Level ◽  
High School Level ◽  
Low Socioeconomic ◽  
Grade Levels

This study is an examination of string access in American public schools; the researcher sought to determine the actual number of school districts in each state that offered string instruction and at which grade levels. Specific questions posed were (a) What is the current relationship between access to string instruction and school-district location, size, and socioeconomic level? (b) How does access vary by school type—elementary, middle, high school? (c) How does access vary in different regions of the country? Data were obtained for each of the 14,183 school districts listed in the 1994-1995 Market Data Retrieval School Directories. A total of 2,268 districts (15.99%) were identified that offered string instruction. Of these, it was found that 71.42% (N = 1,620) offered string instruction at the elementary school level, 78.52% (N = 1,781) at the middle school level, and 80.15%) (N = 1,818) at the high school level. The findings also indicated that string instruction was offered most often in average-socioeconomic-level, medium-sized, urban districts in the Eastern, North Central, and Northwest Music Educators National Conference divisions, and in average-socioeconomic-level, large, metropolitan districts in the Southern, Southwestern, and Western divisions. String instruction was offered least often in low-socioeconomic-level school districts (N = 100) regardless of location or size.

scholarly journals Analisis Rasio Solvabilitas Untuk Menilai Kinerja Perusahaan (Studi Kasus Pada PT.Wahana Sentana Baja)

2021 ◽  
Vol 7 (2) ◽  
pp. 127-135
Author(s):  
Dina Satriani ◽  
Vina Vijaya Kusuma
Keyword(s):  
Decision Making ◽  
Balance Sheet ◽  
Financial Statements ◽  
Transportation Services ◽  
Total Debt ◽  
Calculation Process ◽  
Equity Ratio ◽  
One Year ◽  
Solvency Ratio

PT. Wahana Sentana Baja is a transportation company that provides transportation services for production of goods to the outside, transportation can be by land, sea, or air. The purpose of this study is for the calculation process in analyzing long-term debt accounting and as a decision-making factor to borrow maturing funds. more than one year at PT. Wahana Sentana Baja. Data collection using descriptive methods and data techniques, interviews, direct interviews, and reference books. The process of decision making and decision making is seen from the financial statements, namely the profit and loss report and the balance sheet in 2016, 2017, 2018. Then it is analyzed using the solvency ratio which is divided into three parts, the ratio of debt to equity, ratio of total debt to total assets, and ratio long-term debt or equity.

scholarly journals The Fiscal Externalities of Charter Schools: Evidence from North Carolina

2020 ◽  
Vol 15 (1) ◽  
pp. 191-208 ◽  
Author(s):  
Helen F. Ladd ◽  
John D. Singleton
Keyword(s):  
North Carolina ◽  
Public Schools ◽  
School Districts ◽  
Charter Schools ◽  
Charter School ◽  
Detailed Balance ◽  
Balance Sheet ◽  
School Pupil ◽  
Fiscal Externalities ◽  
State And Local

A significant criticism of the charter school movement is that funding for charter schools diverts money away from traditional public schools. The magnitude of such adverse fiscal externalities depends in part on the nature of state and local funding policies. In this paper, we examine the fiscal effects of charter schools on both urban and nonurban school districts in North Carolina. We base our analysis on detailed balance sheet information for a sample of school districts that experienced substantial charter growth since the statewide cap on charters was raised in 2011. We find a large and negative fiscal impact in excess of $500 per traditional public school pupil in our one urban school district, which translates into an average fiscal cost of about $3,600 for each student enrolled in charter schools. We estimate comparable to somewhat larger fiscal externalities per charter school pupil for two nonurban districts.

scholarly journals The relation between cash flows and economic performance in the digital age: An empirical analysis

2020 ◽  
Vol 17 (3) ◽  
pp. 84-91
Author(s):  
Salvatore Ferri ◽  
Alberto Tron ◽  
Raffaele Fiume ◽  
Gaetano Della Corte
Keyword(s):  
Cash Flow ◽  
Economic Performance ◽  
Business Performance ◽  
Balance Sheet ◽  
Past Research ◽  
Financial Statements ◽  
Cash Flows ◽  
Statistical Tools ◽  
Operating Income

Cash flows analysis plays an increasingly important role in the study of business dynamics since cash flows play a key role in the company's economic performance, not only from a standpoint but also in predictive terms. The literature on the subject is poor in number and depth of research, the samples analyzed so far are limited and the statistical tools are weak. Retracing the steps of past research, we studied the relationships between cash flows of several management areas and economic performance, using a complete sample of Italian listed companies in the 2008-2017 period with more solid statistical tools compared to previous studies. The database used to collect all the balance sheet data necessary to conduct our research is Amadeus of the Bureau Van Dijk platform, which already shows reclassified and easily comparable financial statements. Correlation and multiple regression analysis were used to assess if our cash flow proxies could be strong predictors of future cash flow and, consequently, of business performance. The flows for investments and the ability to generate cash, where the latter is positively correlated with future profitability, manage to explain, together with the net cash generation of the company, a large part of the variability of the operating income produced in subsequent periods. The flows from investments seem to be the most suitable for correctly classifying the most profitable companies in the medium-long term, while cash generation, deriving from the characteristic activity, contributes to providing answers, about corporate profitability, on shorter time horizons.

scholarly journals ANALISIS PENERAPAN STANDAR AKUNTANSI KEUANGAN NO. 101 TENTANG LAPORAN KEUANGAN SYARI’AH (Studi Kasus KSPPS BTM BINA MASYARAKAT UTAMA (BiMU))

2020 ◽  
Vol 5 (02) ◽  
pp. 186-197
Author(s):  
Sukron Mamun ◽  
Erlinda Sismona
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Accounting Standards ◽  
Data Retrieval ◽  
Financial Statements ◽  
Profit Sharing ◽  
Financial Accounting ◽  
Investment Funds ◽  
Financial Report ◽  
Retrieval Technique

This research was conducted at KSPPS BTM BiMU. The purpose of this research is to find out whether the financial reporting of KSPPS BTM BiMU is in accordance with the applicable Financial Accounting Standards. This research method uses a qualitative approach with descriptive methods, namely methods that characterize the actual situation. Which means there is no intervention from of the researcher in the form of reducing or adding the data. While the data retrieval technique is by observation, direct interview with KSPPS BTM BiMU manager related to the financial report, and documentation in the form of the 2017 KSPPS BTM BiMU annual report.From the results of this research which was conducted on KSPPS BTM BiMU there are several problems that were found, among others: in the financial statements presented, temporary syirkah funds is still combined with liability posts on the balance sheet KSPPS BTM BiMU. KSPPS BTM BiMU was found does not make several reports such as reports on changes in tied investment funds, income reconciliation reports and profit sharing, reports on sources and uses of zakat funds and reports on sources and uses of benevolent funds.The results showed that the financial statements of KSPPS BTM BiMU had not been fully compliant with PSAK 101 because it was incorrecty structured and several reports were incomplete. This study can be a reference material for education and Sharia Cooperative practitioners

Forensic Auditing Tools in Detecting Financial Statements' Irregularities

2019 ◽  
pp. 256-275 ◽  
Author(s):  
Radiah Othman ◽  
Rashid Ameer ◽  
Fawzi Laswad
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Benford’S Law ◽  
Total Current ◽  
Audit Planning ◽  
Income Statement ◽  
Benford's Law ◽  
Sampling Procedures ◽  
Benford Law

This chapter illustrates a three-stage analytical procedure to examine and detect the likelihood of financial statements manipulation and identify the accounts that were manipulated by Toshiba. It applies the Beneish model and Benford's law to Toshiba's balance sheet and income statement from 2002 to 2016. The results show significant deviation from Benford's law in the pre-fraud period in equity, long-term receivables and property, plant and equipment, long-term liabilities, and in the post-fraud period in the long-term liabilities, equity, long-term receivables, and total current assets. The results provide evidence of the usefulness of Beneish and Benford law as forensic auditing tools for detecting financial statements' irregularities and fraud that would be useful for the audit planning and sampling procedures.

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