scholarly journals In The Case of False Financial Reporting/False Corporate Communications, Is it Appropriate to Identify Quantitative Thresholds that Trigger Criminal Sanctions, or is it Desirable not to Set Such Thresholds

Author(s):  
Maria Silvia Avi ◽  

False corporate communications characterised by the circumstance that they are punished with criminal sanctions may be governed by dual legislation: on the one hand, it is possible to identify legislations that provide for quantitative thresholds that must be exceeded to speak of a criminal offence, while in other cases, such points do not exist. This article compares the advantages and disadvantages of the two potential regulations representing the Italian legislation concerning false corporate communications before and after 2015

Author(s):  
Kulyk V. ◽  
Levchenko Z. ◽  
Yermolaieva M.

Starting in 2020, some businesses in Ukraine will submit financial statements to government agencies in eXtensible Business Report-ing Language format. These changes in the current legislation require companies that fall under this legislation to use new approaches in preparing and submitting financial statements. eXtensible Business Reporting Language, which stands for eXtensible Business Reporting Language, is an XML-based language for tagging financial data, and enabling businesses to efficiently and accurately process and share their data. eXtensible Business Reporting Language taxonomies play the important role in financial reporting. On the one hand, they pro-vide a system of computer-readable tags to allow the interchange of interactive information. On the other hand, a systematic, agreed-upon convention for naming each taxonomy tag is needed. The International Financial Reporting Standards taxonomy does not include tags for industry International Financial Reporting Standards reporting. Although the International Financial Reporting Standards taxonomy provides opportunities for expansion, taking into account the specifics of individual industries, not all jurisdictions will require or allow the use of the possibility of expansion. The purpose of the article is to identify the advantages and disadvantages of implementing the eXtensible Business Reporting Language format for the presentation of financial statements in Ukraine under International Financial Reporting Standards, as well as possible ways to organize this process in domestic enterprises. The results of the study identified the benefits of implementing such reporting for different groups of users of financial reporting information. It is determined that the algorithm of preparation for the transition to reporting in eXtensible Business Reporting Language consists of the following steps: 1) checking their own IT systems for the ability to generate reports in eXtensible Business Reporting Language format; 2) mapping of data from IT systems and extended taxonomy UA eX-tensible Business Reporting Language International Financial Reporting Standards; 3) eXtensible Business Reporting Language validation.Keywords: financial statements, international financial reporting standards, taxonomy, XBRL, iXBRL. Починаючи з 2020 р. частина суб’єктів господарювання в Україні подаватиме фінансову звітність державним органам у форматі XBRL. Такий підхід є розповсюдженим у міжнародній практиці, проте достатньо новим для суб’єктів господарювання в Україні. Метою статті є визначення переваг та недоліків упровадження формату XBRL для подання фінансової звітності в Україні за МСФЗ, а також можливих способів організації цього процесу на вітчизняних підприємствах. За результатами дослідження встановлено переваги впровадження такого звітування для різних груп користувачів інформації фінансової звітності. Визначено, що алгоритм підготовки до переходу на звітування у XBRL складається з таких кроків: 1) перевірка власних ІТ-систем на предмет можливості формувати звітність у форматі XBRL; 2) мапінг даних із ІТ-систем і розширеної таксономії UA XBRL МСФЗ; 3) валідація XBRL.Ключові слова: фінансова звітність, міжнародні стандарти фінансової звітності, таксономія, XBRL, iXBRL.


2017 ◽  
pp. 79-112
Author(s):  
Paola Ramassa ◽  
Costanza Di Fabio

This paper aims at contributing to financial reporting literature by proposing a conceptual interpretative model to analyse the corporate use of social media for financial communication purposes. In this perspective, the FIRE model provides a framework to study social media shifting the focus on the distinctive features that might enhance web investor relations. The model highlights these features through four building blocks: (i) firm identity (F); (ii) information posting (I); (iii) reputation (R); and (iv) exchange and diffusion (E). They represent key aspects to explore corporate communication activities and might offer a framework to interpret to what degree corporate web financial reporting exploits the potential of social media. Accordingly, the paper proposes metrics based on this model aimed at capturing the interactivity of corporate communications via social media, with a particular focus on web financial reporting. It tries to show the potential of this model by illustrating an exploratory empirical analysis investigating to what extent companies use social media for financial reporting purposes and whether firms are taking advantage of Twitter distinctive features of interaction and diffusion.


The main methods (pressing and winding) of the processing of hybrid polymer composites to obtain items were examined. Advantages and disadvantages of the methods were noted. Good combinations of different-module fibers (carbon, glass, boron, organic) in hybrid polymer materials are described, which allow one to prepare materials with high compression strength on the one hand, and to increase fracture energy of samples and impact toughness on the other hand.


2020 ◽  
Vol 26 (26) ◽  
pp. 3096-3104 ◽  
Author(s):  
Shuai Deng ◽  
Yige Sun ◽  
Tianyi Zhao ◽  
Yang Hu ◽  
Tianyi Zang

Drug side effects have become an important indicator for evaluating the safety of drugs. There are two main factors in the frequent occurrence of drug safety problems; on the one hand, the clinical understanding of drug side effects is insufficient, leading to frequent adverse drug reactions, while on the other hand, due to the long-term period and complexity of clinical trials, side effects of approved drugs on the market cannot be reported in a timely manner. Therefore, many researchers have focused on developing methods to identify drug side effects. In this review, we summarize the methods of identifying drug side effects and common databases in this field. We classified methods of identifying side effects into four categories: biological experimental, machine learning, text mining and network methods. We point out the key points of each kind of method. In addition, we also explain the advantages and disadvantages of each method. Finally, we propose future research directions.


2016 ◽  
Vol 30 (3) ◽  
pp. 325-339 ◽  
Author(s):  
Rachana Kalelkar ◽  
Sarfraz Khan

SYNOPSIS Accounting scholars theorize that audit price is a function of a client's audit and business risk. Existing research finds that the functional expertise of Chief Executive Officers (CEOs) in finance improves financial reporting quality (Matsunaga, Wang, and Yeung 2013), increases profitability, and reduces the likelihood of firm failure (Custodio and Metzger 2014). These factors suggest that auditors' engagement risk decreases when incumbent CEOs possess financial expertise, raising the likelihood that auditors will charge these firms lower fees. In this study, we examine whether CEOs' work experience in accounting- and finance-related jobs affects audit fees. Using a panel of U.S. firms between 2004 and 2013, we find that firms that have a financial expert CEO pay lower audit fees. Our results are robust to various specifications, including firm-fixed effect model and specifications that control for other CEO- and Chief Financial Officer (CFO)-specific and audit committee characteristics. Our findings thus add to the literature on the advantages and disadvantages of a functional background of top managers and how this background can create value for a firm through savings in audit fees.


2007 ◽  
Vol 21 (3) ◽  
pp. 245-263 ◽  
Author(s):  
Elizabeth K. Keating ◽  
Eric S. Berman

The Government Accounting Standards Board (GASB) recently released Statement No. 45, Accounting and Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions and its companion Statement No. 43 for pooled stand-alone health care plans, which will profoundly affect American governmental finance. The goal of this article is to encourage governments to consider carefully a full range of options in funding and restructuring other post-employment benefits (OPEB). This article will review Statement No. 45's potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The article will discuss the statement's impact on budgets and governmental operations, including collective bargaining. Funding options under Statement No. 45 will be detailed, including the advantages and disadvantages of irrevocable trusts and OPEB bonds. The article will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. As the largest government entities are just now implementing GASB Statement No. 45, estimates of the magnitude of unfunded OPEB liabilities are limited as are the strategies likely to be adopted to cover these obligations. This article offers a summary of the unfunded OPEB liabilities reported by states and major cities and suggests some measures for assessing the ability of these entities to address these costs.


2018 ◽  
Vol 33 (2) ◽  
pp. 35-42
Author(s):  
Natalie Tatiana Churyk ◽  
Alan Reinstein ◽  
Lance Smith

ABSTRACT Based on a Big 4 real estate audit partner's client, this case introduces graduate research and advanced financial accounting students to acquisition accounting under U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS), provides a perspective on real estate investment trusts (REITs), and requires analyzing a U.S. versus Canadian (Ontario) initial public offering (IPO). Students list U.S. and Canadian advantages and disadvantages of REITs, record a portfolio purchase, prepare U.S. GAAP and IFRS balance sheets in order to grasp major REIT reporting differences, contrast the key provisions between U.S. and Canadian (Ontario) securities commissions' IPO reporting, and consider ongoing securities commissions' reporting options. Finally, students will recommend whether the IPO should be issued in the U.S. or Canada. Completing the case helps students: (1) grasp U.S. GAAP and IFRS acquisition accounting methods and different REIT presentations; and (2) recognize that the country selected for the IPO depends upon the issuer's circumstances and preferences.


2019 ◽  
Vol 5 (1) ◽  
pp. 488-495
Author(s):  
Cláudia Martins ◽  
Sérgio Ferreira

AbstractThe linguistic rights of Mirandese were enshrined in Portugal in 1999, though its “discovery” dates back to the very end of the 19th century at the hands of Leite de Vasconcellos. For centuries, it was the first or only language spoken by people living in the northeast of Portugal, particularly the district of Miranda do Douro. As a minority language, it has always moved among three dimensions. On the one hand, the need to assert and defend this language and have it acknowledged by the country, which proudly believe(d) in their monolingual history. Unavoidably, this has ensued the action of translation, especially active from the mid of the 20th century onwards, with an emphasis on the translation of the Bible and Portuguese canonical literature, as well as other renowned literary forms (e.g. The Adventures of Asterix). Finally, the third axis lies in migration, either within Portugal or abroad. Between the 1950s and the 1960s, Mirandese people were forced to leave Miranda do Douro and villages in the outskirts in the thousands. They fled not only due to the deeply entrenched poverty, but also the almost complete absence of future prospects, enhanced by the fact that they were regarded as not speaking “good” Portuguese, but rather a “charra” language, and as ignorant backward people. This period coincided with the building of dams on the river Douro and the cultural and linguistic shock that stemmed from this forceful contact, which exacerbated their sense of not belonging and of social shame. Bearing all this in mind, we seek to approach the role that migration played not only in the assertion of Mirandese as a language in its own right, but also in the empowerment of new generations of Mirandese people, highly qualified and politically engaged in the defence of this minority language, some of whom were former migrants. Thus, we aim to depict Mirandese’s political situation before and after the endorsement of the Portuguese Law no. 7/99.


2021 ◽  
Vol 11 (6) ◽  
pp. 478
Author(s):  
Ching Chang ◽  
Chien-Hao Huang ◽  
Hsiao-Jung Tseng ◽  
Fang-Chen Yang ◽  
Rong-Nan Chien

Background: Hepatic encephalopathy (HE), a neuropsychiatric complication of decompensated cirrhosis, is associated with high mortality and high risk of recurrence. Rifaximin add-on to lactulose for 3 to 6 months is recommended for the prevention of recurrent episodes of HE after the second episode. However, whether the combination for more than 6 months is superior to lactulose alone in the maintenance of HE remission is less evident. Therefore, the aim of this study is to evaluate the one-year efficacy of rifaximin add-on to lactulose for the maintenance of HE remission in Taiwan. Methods: We conducted a real-world single-center retrospective cohort study to compare the long-term efficacy of rifaximin add-on to lactulose (group R + L) versus lactulose alone (group L, control group). Furthermore, the treatment efficacy before and after rifaximin add-on to lactulose was also analyzed. The primary endpoint of our study was time to first HE recurrence (Conn score ≥ 2). All patients were followed up every three months until death, and censored at one year if still alive. Results and Conclusions: 12 patients were enrolled in group R + L. Another 31 patients were stratified into group L. Sex, comorbidity, ammonia level, and ascites grade were matched while age, HE grade, and model for end-stage liver disease (MELD) score were adjusted in the multivariable logistic regression model. Compared with group L, significant improvement in the maintenance of HE remission and decreased episodes and days of HE-related hospitalizations were demonstrated in group R + L. The serum ammonia levels were significantly lower at the 3rd and 6th month in group 1. Concerning changes before and after rifaximin add-on in group R + L, mini-mental status examination (MMSE), episodes of hospitalization, and variceal bleeding also improved at 6 and 12 months. Days of hospitalization, serum ammonia levels also improved at 6th month. Except for concern over price, no patients discontinued rifaximin due to adverse events or complications. The above results provide evidence for the one-year use of rifaximin add-on to lactulose in reducing HE recurrence and HE-related hospitalization for patients with decompensated cirrhosis.


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