scholarly journals Non-recognition of internally generated brands: implications for the usefulness of financial statements

2015 ◽  
Vol 8 (3) ◽  
Author(s):  
Pieter Van Aardt Van Der Spuy
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Research Approach ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Current Accounting ◽  
Disclosure Requirements ◽  
International Accounting Standard ◽  
Reporting Entity

International Accounting Standard 38 (IAS38) prohibits the recognition of internally generated brands as assets. This article explores the implications of this prohibition for the usefulness of financial statements, focusing on the implications for note-disclosure. A theoretical doctrinal research approach is taken in which the literature on intangible assets and current accounting standards is examined and evaluated. The article highlights the information content relevant to unrecognised brand assets that is not currently disclosed to users of financial statements. Furthermore, the article argues and explains how this situation may compromise the usefulness of financial statements. Practitioners compiling financial statements may find the conclusions and recommendations useful in improving voluntary note-disclosure when a reporting entity owns significant unrecognised brand assets. The International Accounting Standards Board (IASB) may find the article useful in reviewing IAS38’s mandatory note-disclosure requirements in order to improve the usefulness of financial statements.

scholarly journals The Conformity Level of Income Tax Accounting In Jordan with the Requirements of the International Accounting Standard IAS (12) in Terms of Taxable Temporary Differences’ Recognition

2017 ◽  
Vol 10 (5) ◽  
pp. 51
Author(s):  
Ahmad Adel Jamil Abdallah
Keyword(s):  
Income Tax ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Foreign Companies ◽  
International Accounting Standard ◽  
Tax Accounting

The present study aimed to measuring the conformity level of income tax accounting in Jordan with the requirements of ISA (12), and because of increasing to apply the international standards by local and foreign companies in Jordan and Jordanian legislations it’s appear gap between the accounting profit and the tax profit caused Taxable temporary and permanent differences. The study seeks to achieve set of goals represented by studying and analyzing the   compatibility level of income tax accounting by a questionnaire was distributed to 100 income and sales auditors working in the senior and moderate Taxpayers, directorates 85 questionnaires were retrieved and eighty were valid for the study’s purposes, the major results that is the study found the income tax accounting in Jordan does not adhere to the requirements of most of the international accounting standards as there were no presentation to the financial statements, and There was no recognition of Taxable temporary differences and deductible temporary differences (the differences between accounting profit and taxable profit) in the income tax accounting in Jordan.

scholarly journals Extent of Commitment of Maritime Companies in Lebanon to Implementing the IAS 16

2020 ◽  
Vol 12 (9) ◽  
pp. 111
Author(s):  
Rani Shakaroun ◽  
Hasan El-Mousawi ◽  
Joumana Younis
Keyword(s):  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Income Statement ◽  
Fixed Assets ◽  
Periodic Maintenance ◽  
Convenient Approach ◽  
Set Up ◽  
International Accounting Standard

The study examined the extent of commitment of maritime companies in Lebanon to implementing the International Accounting Standard (IAS) 16. It aimed at recognizing the extent to which maritime firms in Lebanon apply the International Accounting Standard (IAS) 16 by explaining the financial statements and their features and constituents. A five-point Likert style questionnaire was constructed as a study tool to collect information from the sample that consisted of 70 people who were accountants at maritime companies in Lebanon in addition to auditors of these companies. From the 70 questionnaires distributed, 63 were retrieved. The research concluded that maritime companies in Lebanon apply the IAS 16 in the income statement and the statement of financial position. The researchers recommended that the International Accounting Standards Board (IASB) should set up a clear and coordinated approach to deal with the issue of the periodic maintenance for ships, especially that the IAS 16 did not specify a preferred approach to settle this issue; rather, the IASB left it for the companies to choose the most convenient approach. They also recommended increasing disclosure of Lebanese maritime companies using the procedures followed in determining, depreciating and itemizing fixed assets in the financial statements.

scholarly journals De invloed van het niet of niet volledig waarderen van actieve belastinglatenties op de nettowinst

2016 ◽  
Vol 90 (11) ◽  
pp. 471-485
Author(s):  
Alidus Dannenberg ◽  
Chantal de Bruin ◽  
Peter Epe
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
International Accounting Standard ◽  
International Accounting Standards Board

Actieve belastinglatenties moeten in de jaarrekening worden gewaardeerd tot het bedrag waarvoor het waarschijnlijk is dat voldoende fiscale winst wordt behaald om de actieve belastinglatenties te verrekenen. De vraag is welk effect deze norm van de Raad voor de Jaarverslaggeving (RJ) en de International Accounting Standards Board (IASB) heeft op de gepubliceerde nettowinst van een onderneming. Zo raken tussentijdse op- en afwaarderingen van de actieve belastinglatentie de effectieve belastingdruk en daarmee de nettowinst. Richtlijn 272 en International Accounting Standard (IAS) 12 geven de onderneming de ruimte om de nettowinst te beïnvloeden door het al dan niet volledig tot waardering brengen van actieve belastinglatenties. Dit onderzoek richt zich op de vraag in hoeverre deze situatie invloed heeft op de gepubliceerde nettowinst. De invloed van het al dan niet volledig tot waardering brengen van actieve belastinglatenties op de gepubliceerde nettowinst bedraagt ruim 17%.

scholarly journals PROBLEMS AND SOLUTIONS FOR LEASE VALUATION AND ACCOUNTING IN LATVIA

10.23856/3301 ◽  
2019 ◽  
Vol 33 (2) ◽  
pp. 11-18
Author(s):  
Iluta Arbidane ◽  
Anita Puzule
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Financial Reports ◽  
Problems And Solutions ◽  
The Republic ◽  
International Accounting Standard

In the legislation of the Republic of Latvia, leasing transaction accounting complies with the provisions no. 17 of the International Accounting Standard "Leasing", which expired on January 1, 2019. The problem for the lessee in the accounting of leasing transactions is also the introduction of a new standard for companies that prepare annual financial reports  in accordance with the requirements of international accounting standards. The aim of the study is to examine accounting problems and assess leasing transactions in Latvia and offer solutions. The study examined the justification for the assessment and accounting of leasing transactions in line with international accounting standards and identified issues of assessment and reporting in Latvia, possible solutions to improve the quality of leasing transactions have been worked out, offering necessary changes in legislation and revision of methodological documents.

scholarly journals Challenges, Advantages and Disadvantages in Implementation of Ifrs 15 in Different Industries

2019 ◽  
Author(s):  
Ivana Pavić ◽  
Ivana Mamić Sačer ◽  
Lajoš Žager
Keyword(s):  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
It Infrastructure ◽  
Multiple Sources ◽  
Revenue Recognition ◽  
Accounting Standard ◽  
Advantages And Disadvantages ◽  
Accounting Rules ◽  
International Accounting Standard

The accounting rules related to revenues’ recognition and measurement have not been changed for many years, and have been listed in International Accounting Standard 18 – Revenues, which has been in use since 1984. Practice has shown that the standard is no longer an adequate basis for revenue recognition and therefore the International Accounting Standards Board (IASB) in cooperation with American FASB has created and published a new accounting standard that addresses the issue of revenue recognition – IFRS 15 – Revenues from Contracts with Customers. This standard supersedes the application of IAS 18 as of January 1, 2018. Since revenue is a very important element in determining the profit or loss of an entity and therefore its performance, preparers of financial statements should pay full attention to accounting principles related to revenues’ recognition and measurement while preparing financial statements. New accounting standard for revenues introduces certain innovations in the field of revenue calculation as well as in time of revenues’ recognition. These changes will have a significant impact on the amount of revenues for certain industries, such as the telecommunications and construction industry, which have significant share of revenues from contracts with customers. The aim of the research is to identify the challenges and problems that appears in the initial phase of application of a new standard on revenues such as; the need to consider a larger volume of documentation, inadequate existing IT infrastructure, multiple sources of documentation that must be considered in revenue recognition, including commercial, legal and financial documentation etc. In addition, we plan to identify benefits form the application of the new standard for the entities preparing the financial statements. In this context, it is expected to identify the sectors that have the most dilemmas in the application of this standard and to propose potential solutions to address these problems.

scholarly journals Divulgação de informação sobre os ativos intangíveis: evidência empírica nos bancos em Portugal no período 2001-2009

2013 ◽  
Vol 8 (2) ◽  
Author(s):  
Ana Maria Gomes Rodrigues ◽  
Maria De Lurdes Ribeiro da Silva ◽  
María Del Pilar Muñoz Dueñas
Keyword(s):  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
International Accounting Standard ◽  
International Accounting Standards Board

A presente investigação tem como principais objetivos analisar a divulgação da informação sobre intangíveis num período de nove anos, nomeadamente, a extensão ou o nível, bem como a sua evolução e as possíveis alterações que nela se verificaram, derivadas da adoção, em 2005, do normativo internacional para efeitos da elaboração das contas consolidadas das entidades bancárias. Através da verificação da divulgação dos ativos intangíveis atendendo aos itens constantes da International Accounting Standard (IAS) 38 do International Accounting Standards Board (IASB), foram analisadas as demonstrações financeiras consolidadas dos dezassete bancos, que apresentaram contas consolidadas em Portugal, ininterruptamente, de 2001 a 2009. Os resultados obtidos através da construção de um índice, elaborado para o efeito, revelaram uma média de divulgação de informação sobre intangíveis de 0,24 no período. O nível de divulgação geral evoluiu de uma média de 0,1940 em 2001 para 0,2778 no ano de 2009. Os intangíveis gerados internamente tiveram uma média de divulgação de 0,1592 e os intangíveis adquiridos a terceiros obtiveram um valor médio de 0,2927. Verificou-se um aumento na extensão da divulgação de intangíveis nas demonstrações financeiras consolidadas dos bancos no período em análise, sendo este acréscimo mais acentuado nos anos de 2005 e 2006, os primeiros anos de adoção em Portugal do normativo internacional endossado pela União Europeia através do Regulamento 1606/2002, de 19 de Julho, as designadas normas IASB-UE.

scholarly journals Extent of Commitment of Accountants in Lebanon to Implementing the International Accounting Standard 16: Property, Plant and Equipment (An Empirical Study)

2020 ◽  
Vol 5 (1) ◽  
pp. p38
Author(s):  
Maysa Ayoub ◽  
Dr. Hasan El-Mousawi
Keyword(s):  
Empirical Study ◽  
Analytical Approach ◽  
Statistical Significance ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Certified Public Accountants ◽  
Accounting Standard ◽  
Fixed Assets ◽  
International Accounting Standard

Tangible fixed assets are fundamental to the organization; thus, the International Accounting Standards Board (IASB) issued International Accounting Standard 16, (IAS 16—Property, Land and Equipment), which includes regulations that organize the recognition, measurement and disclosure of those assets. Later versions of the standard improved and updated the standard. The research aims at studying the extent of commitment of Lebanese accountants to implementing IAS 16. The researchers used a descriptive, analytical approach to tackle their topic. A well-structured five-point Likert style questionnaire was used to collect data. The samples were all members of the Lebanese Association of Certified Public Accountants (LACPA). The results of the study showed a difference of statistical significance within the opinions of the study samples about the extent of commitment of LACPA members to applying IAS 16. The research reached that accountants in Lebanon apply only some items of IAS 16, which the research tool specified. The researchers had some recommendations based on the findings of the research.

scholarly journals Contabilidade das Operações de Leasing: Análise de Possíveis Ocorrências de Lobbying no Processo de Emissão da IFRS 16

2017 ◽  
Vol 11 (4) ◽  
Author(s):  
António Cariano ◽  
Fábio Henrique ferreira de Albuquerque ◽  
Manuela Marcelino ◽  
Nuno Rodrigues
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Accounting Standard ◽  
Comment Letters ◽  
International Accounting Standard ◽  
International Accounting Standards Board

Objetivo: O estudo pretende analisar a potencial existência de lobbying no processo de substituição da International Accounting Standard (IAS) 17 pela International Financial Reporting Standard (IFRS) 16, emitidas pelo International Accounting Standards Board (IASB) e relativas às locações. Método: Foram recolhidas 641 comment letters submetidas à consulta pública no âmbito do Exposure Draft revisto (2013). O estudo adota a análise de conteúdo como método, sendo os dados posteriormente submetidos a técnicas de análise estatística univariada e bivariada. Resultados: Os resultados sugerem a existência de lobbying a partir da constatação de divergências significativas entre entidades financeiras e não financeiras no que diz respeito às questões principais da norma, relacionadas com o reconhecimento e com o modelo único de contabilização das locações. Contribuições: Aferir a existência de diferenças significativas de opinião indiciadoras de lobbying no âmbito de um projeto de substituição de norma promovido pelo Iasb e, em função dos distintos interesses envolvidos (lobbies), constitui, assim, o principal contributo da presente investigação.

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