scholarly journals Analisis Penerapan PSAK 5 (Revisi 2009) terhadap Pengungkapan Segmen Operasi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI)

2018 ◽  
Vol 5 (2) ◽  
pp. 157-163
Author(s):  
Robert Pius Pardede ◽  
Tri Ernawati
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Management Approach ◽  
International Accounting ◽  
International Accounting Standards ◽  
Segment Disclosure ◽  
Segment Disclosures ◽  
The Impact ◽  
Segment Information

The International Accounting Standards Board (IASB) is committed to improve their standards’ quality, which is the global accounting standards that reflect information in financial statements as transparent and comparable for public purposes. The International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS) provide guidelines in creating and interpreting companies’ financial statements (Iatridis & Dalla, 2011). The purpose of this research was to assess the impact of the application of PSAK 5 (revised 2009). PSAK 5 (revised 2009) requires segment disclosure based on the internal reporting reviewed by the operation decision maker. PSAK 5 (revised 2000) requires companies to disclose segments information based on the format of the primary and secondary segments as identified per products / services that generate the same level of risk and return. The six analytical frameworks developed for this research, namely: (1) analysis of the presentation of segment information based on PSAK 5 (revised 2000) versus PSAK 5 (revised 2009), (2) analysis of the determination and identification of operational decision-making, (3) the analysis of the definition and identification operating segments between industry sectors, (4) analysis of segment aggregation, (5) analysis of determination of the reportable segments, and (6) analysis of reported segment disclosures. In conclusion, generally, the disclosure of segment information based on PSAK 5 (revised 2009) by using the management approach yields a more complete segment report, by conveying more relevant segmental information from the standpoint of management's internal performance than the previous standard, which was PSAK 5 (revised 2000). This research found significant changes related to an increase in the disclosure of segment disclosure in business segments, segment aggregation, and basic information on company's segmental performance measurement in Indonesia.

scholarly journals The Impact of Accounting Harmonization on Financial Statements Quality in Serbia

2019 ◽  
Vol 52 (1) ◽  
pp. 128-137 ◽  
Author(s):  
Andjelković Milivoj Danijela ◽  
Danijela Zubac
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
The European Union ◽  
The World ◽  
The Republic ◽  
The Impact

The general process of the world market globalization and the great influence of international financial organizations,   especially the IMF and the World Bank, caused the need for standardization and harmonization of financial statements of the participants involved in international economics and trade. In this process, in the Republic of Serbia, the International Accounting Standards Board (IASB) and the IASB.S project for IAS/IFRS implementation have a crucial role. By adopting the International Financial Reporting Standards - IFRSs (including International Accounting Standards - IASs), financial statements prepared in Serbia may be comparable with financial statements in other countries. Starting from this, the main goal of the research is to indicate whether the financial statements in Serbia based on the IASB project can be comparable with financial statements in other countries, and on this basis can they satisfy the needs of external users of information (investors, creditors and others). In doing so, it points to the experience in the Republic of Serbia, the accounting practice and experiences of other countries, above all members of the European Union. The results of the research show that, in addition to the IAS/IFRS, the US generally accepted accounting principles (GAAPs) and the Directive 34 of the European Union represent the key segments of professional regulation contributing to greater accounting harmonization, and on this basis, the higher quality of financial reporting. Most countries that have national accounting regulations align the accounting rules in the most important issues with those regulations.

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 Ontwikkelingen in het conceptual framework

2013 ◽  
Vol 87 (9) ◽  
pp. 355-364
Author(s):  
Dick Van Offeren ◽  
Joop Witjes ◽  
Tim Verdoes
Keyword(s):  
Conceptual Framework ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
International Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Reporting Framework ◽  
International Accounting Standards Board

De International Accounting Standards Board (IASB) heeft recent het conceptual framework-project als kernproject aangemerkt. Het oorspronkelijke Framework for the preparation and presentation of financial statements (framework 1989) was aan een fundamentele herziening toe. Samen met de Financial Accounting Standards Board (FASB) heeft de IASB de eerste fase van het Conceptual framework for financial reporting (framework 2010) voltooid. In deze eerste fase worden twee onderwerpen besproken. Dit zijn het doel van financiële verslaggeving en de kwalitatieve kenmerken van financiële verslaggeving. Wij bespreken deze twee onderwerpen en gaan in op de verschillen tussen het framework 2010 en het framework 1989. Wij benadrukken het verschil in toepassingsgebied van de twee frameworks. Het framework 2010 is gericht op het ruimere begrip financial reporting, financiële verslaggeving en het framework 1989 was beperkt tot financial statements, jaarrekeningen.

scholarly journals Impact Of IASB & FASB On Financial Statements

2011 ◽  
Vol 8 (8) ◽  
Author(s):  
Veronica Paz ◽  
Thomas Griffin
Keyword(s):  
Conceptual Framework ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
International Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
The Impact ◽  
International Accounting Standards Board

The purpose of this research is to determine the impact of material differences in the conceptual framework of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) on the financial statements.

scholarly journals Financial Reporting Impact Of The Operating Lease Classification

2012 ◽  
Vol 28 (6) ◽  
pp. 1509 ◽  
Author(s):  
John Kostolansky ◽  
Dora Altschuler ◽  
Brian B. Stanko
Keyword(s):  
North America ◽  
Financial Reporting ◽  
Balance Sheet ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Operating Leases ◽  
The Impact

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are preparing to make changes to accounting standards for leasing that will have a significant impact on the financial statements of a large number of companies. The proposed standard will eliminate the operating lease classification, and if passed, companies using this classification will be required to report additional assets and liabilities on the balance sheet. This study estimates the impact of this change in accounting standards on the financial statements and several key financial ratios for an extensive sample of companies and industries from the Compustat North America database. It is important that users of financial statements understand and are prepared for these changes prior to implementation, particularly for industries in which operating leases are heavily utilized.

scholarly journals The impact of conservatism and secrecy on the IFRS interpretation: the case of Tunisia and Egypt

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jihen Eljammi Ayadi ◽  
Salma Damak ◽  
Khaled Hussainey
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Arab Countries ◽  
International Accounting ◽  
International Accounting Standards ◽  
North African ◽  
Content Type ◽  
Accounting Judgments ◽  
The Impact ◽  
Cultural Effect

Purpose The effect of culture, through the accounting values of conservatism and secrecy, on accounting judgments is an area of research extensively studied in developed countries. However, little research has focused on this issue in developing countries, specifically Arab countries. Thus, this study aims to fill this gap by investigating the impact of the combined effect of the culture/accounting dimensions on the interpretation of the probability expressions used in the international accounting standards/international financial reporting standards (IFRSs) in two North African/Arab countries: Tunisia and Egypt. Design/methodology/approach In the first place, this study determines Hofstede’s cultural index scores for Tunisia, ignored in his original model and updates those related to Egypt, which provides a more relevant understanding of the cultural effect. Then, the study relies on the Hofstede/Gray cultural accounting model to examine the extent to which the accounting values of conservatism and secrecy may affect the recognition of the increase and the decrease of income and the disclosure of this information in the financial statements by postgraduate accounting student in both countries. Findings The results provide evidence of the generalizability of Gray’s conservatism hypothesis in the North African/Arab countries (i.e. Tunisia and Egypt), at least in the context of income recognition. Moreover, the findings demonstrate that culture, through its influence on the accounting value of secrecy, affects the interpretation of probability expressions used in the IFRSs to establish disclosures. Research limitations/implications This study calls for more attention from the standard setters to provide further guidance related to the consistent and accurate numerical value that needs to be assigned to the probability expressions to reduce the ambiguity related to their interpretation. The international accounting standards board (IASB) should pay greater attention to the use of vague probability expressions in developing the IFRSs to promote the true comparability of financial reporting worldwide. Like with any research, this study implies certain limitations specifically related to the sample selection, a sample size, which may affect the generalizability of the results. Thus, future research may rely on a larger sample combining and cover other cultural areas. Practical implications The results of this study may give insights into the practical issues faced by the accounting practitioners and which are related to the interpretation and the application of the IFRS including probability expressions. This may trigger their attention toward this issue to reduce the occurrence of these expressions in the revised and newly released standards to guarantee homogeneous financial reporting practices across countries and enhance the IASB’s objective of international accounting harmonization. Originality/value This study might be the first one that investigates the issue of the IFRS interpretation in two North African and Arab countries: Tunisia and Egypt. It also provides an original investigation of the cultural effect on accounting judgments based on the actualized Hofstede’s cultural indexes, especially for Tunisia which is ignored in the original country classification.

scholarly journals Valuation of tangible fixed assets pursuant to the Czech accounting law and international accounting standards

2008 ◽  
Vol 53 (No. 10) ◽  
pp. 466-474
Author(s):  
P. Svoboda
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Scientific Discipline ◽  
International Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Tangible Assets ◽  
Fixed Assets ◽  
Value Determination ◽  
The Impact

The valuation of assets is a relatively challenging activity as well as a scientific discipline having an impact on the amount of the reported assets and economic result process. The report deals with the issue of valuation of the tangible fixed assets in the accounting entities compiling the financial statements pursuant to the Czech national legislation and in conformity with the requirements of the International Accounting Standards IAS/IFRS and US GAAP. The substantial differences in the definitions and valuation of the tangible fixed assets in these systems have been determined, indicating the impact on the economy of the accounting entity, both at the primary acquisition and as at the day of the closing of books. Attention has also been paid to the possibilities of recording the value decreases and to subsequent expenses. The analysis of legal regulations was completed with the analysis of the financial statements from selected economic entities. As per the international standards, the main difference consists in the possibility of component depreciation of tangible assets or, on the other hand, the possibility of group depreciation, in the differences in valuation in the event of acquisition paid for and of acquisition by one’s own production and in the possibility to consider the costs of disposal of assets. The subsequent expenses are also construed in a different manner: as per the Czech regulation, they are construed as repairs and maintenance. The substantial difference in comparison with the Czech regulation consists in the possibility of re-valuation of assets upwards as well as the method of actual value determination.

scholarly journals Creative Accounting – Some Aspects of Knowledge and Implementation in Albania

2018 ◽  
Vol 4 (1) ◽  
pp. 134-145
Author(s):  
Mirela Ujkani Miti ◽  
Elena Myftaraj ◽  
Brisejda Ramaj Zenuni
Keyword(s):  
Literature Review ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
National Accounting ◽  
Creative Accounting ◽  
Accounting Professionals ◽  
Main Factors

Abstract This paper comes as a result of exploring the creative accounting level of recognition and its use by accounting professionals during the preparation of the financial statements of the entities (SMEs) in Albania. In our country the financial reporting is based on national accounting standards which are in accordance with international accounting standards (IFRS for SME). So, based on the literature review, we will give some definitions of creative accounting as well as aspects of its use in different countries. Starting from those practices, we will identify the main factors why managers and accounting professionals exercise creative accounting. Through an analysis based on questionnaire’s data addressed to accounting professionals, we want to show if such practice is implemented in our country and how it is visualized by accounting professionals. In conclusion of this paper we will give some recommendations on the recognition and use of creative accounting by accountants in our country.

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