scholarly journals ANALISIS BIAYA DAN MANFAAT ALIRAN KAS INVESTOR: TELAAH LITERATUR KEWAJARAN DARI NILAI WAJAR

2019 ◽  
Vol 4 (2) ◽  
pp. 49-65
Author(s):  
Frida Fanani Rohma
Keyword(s):  
Financial Reporting ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Primary Users

IFRS (International Financial Reporting Standards) menekankan penyajian informasi berdasarkan nilai wajar (fair value) yang dinilai mampu meningkatkan relevansi. Beberapa literatur dan hasil penelitian empiris mengkaji masalah pengukuran dan perubahan informasi akuntansi berdasarkan nilai wajar dalam meningkatkan relevansi informasi. Namun, hal tersebut masih menjadi kontroversi. Artikel ini bertujuan untuk melakukan analisis kewajaran dari nilai wajar dengan tolok ukur penyajian yang seharusnya dan kebermanfaatan informasi berdasarkan sudut pandang seluruh pihak yang berhubungan dengan laporan keuangan, tidak hanya primary users. Hasil telaah menunjukkan “kewajaran” dari nilai wajar membantu meningkatkan relevansi, namun kemampuan prediksi dan tujuan utamanya untuk mendapatkan respon harga investor masih menjadi masalah yang perlu dipertanyakan, sehingga pertimbangan biaya dan manfaat nilai wajar masih perlu diperhatikan untuk mencapai tujuan “kewajaran” dari nilai wajar.

scholarly journals Continued Impact of International Financial Reporting Standards on U.S. Generally Accepted Accounting Principles

2020 ◽  
pp. 1-12
Author(s):  
Sylwia Gornik-Tomaszewski ◽  
Victoria Shoaf
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Accounting Principles ◽  
Value Measurement ◽  
The Impact

The milestone outcomes of over a decade of close cooperation between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on the convergence of U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) have been highly publicized in the professional media. Great attention has been paid to such joint FASB and IASB projects as accounting for business combinations, fair value measurement, and revenue recognition. The impact of U.S. GAAP on IFRS has also been discussed and highlighted in many professional and academic resources. It should come as no surprise since FASB is considered a world leader in creating high-quality standards through an exemplary standard-setting process. In this paper, we look at the least noticed outcome of the convergence process: the impact of IFRS on U.S. GAAP. We reviewed all of the Accounting Standards Updates (ASUs) to the FASB Accounting Standards Codification®, from the first issued in June 2009 to 2016, and listed instances where U.S. GAAP was significantly modified to reflect international solutions. These examples of U.S. GAAP modifications indicate that the impact of IFRS on U.S. GAAP continued well after the bilateral cooperation between FASB and IASB effectively ended in 2014. Furthermore, look at the most recent FASB pronouncement let us conclude that the FASB continues to be engaged in seeking comparable global accounting solutions.

The role of electronic auditing in verifying the principles and approaches of accounting measurement for financial instruments when adopting international financial reporting standards IFRS

2021 ◽  
Vol 11 (1) ◽  
pp. 229-247
Author(s):  
Abdul Majeed S. Dawood ◽  
Saad Salman Awad AL Maeeni
Keyword(s):  
Financial Reporting ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Financial Assets ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Market Values ◽  
Financial Position ◽  
Income Statement ◽  
Audit Program

The diversity of financial assets owned by Iraqi companies, which are measured and presented in different ways according to the classification of these assets according to international financial reporting standards, and that re-measuring these assets (shares) affects the income statement and the financial position of companies according to the change in the fair value of shares. The auditor uses multiple auditing methods for the purpose of verifying the measurement and presentation of these assets, including the use of electronic means in auditing (computer auditing.(The aim of the research is to clarify what electronic auditing is and to explain and analyse the measurement requirements in accordance with the International Financial Reporting Standard (IFRS - 9), in addition to preparing an electronic audit program that helps the auditor to verify the re measurement and presentation of the companies ’financial assets. Two mixed joint stock companies (Iraqi Company for Manufacturing and Marketing Dates - the National Company for Tourism Investments and Real Estate Projects) are adopted as a field of application by analysing their financial data for the year / 2018 and conducting a simulation of the outcome of the activity and the financial position of the company using an electronic audit program. This is to show the difference between the actual results and the results expected to be shown in light of the measurement principles adopted under international financial reporting standards. The researchers have concluded that the use of electronic means helps the auditor to conduct the audit process for the various financial assets due to their multiplicity and diversity in addition to the diversity of their market values. In addition, this enables the auditor to identify errors and indicate their impact on the income statement and budget and thus reach a final opinion on the financial statements towards the use of electronic means in auditing operations by professional organizations and relevant authorities for the purpose of speed and accuracy in completing auditing operations. Moreover, the necessity to prepare electronic programs for various auditing purposes in line with the activity of the bodies subject for auditing and training auditors in the use of such programs.

scholarly journals ANALISA TINGKAT KEPATUHAN PENGUNGKAPAN WAJIB KONVERGENSI IFRS 2012 : STUDI KASUS PERUSAHAAN CONSUMER GOODS YANG TERDAFTAR DI BURSA EFEK INDONESIA 2011-2012

2017 ◽  
Vol 7 (1) ◽  
Author(s):  
Kurniawati Kurniawati
Keyword(s):  
Financial Reporting ◽  
Consumer Goods ◽  
Stock Exchange ◽  
Accounting Standards ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Mandatory Disclosure ◽  
Financial Reporting Standards

<p><em>A recent trending issue in the world of accounting is the issue of the convergence of the 2012 </em><em>International Financial Reporting Standards (IFRS). The process of this convergence has started since 2008 and is expected to be finished by 2011, so that it may be fully implemented in 2012. There are several main characteristics of IFRS, i.e. principal based, fair value, and disclosure.</em></p><p><em>This research is conducted with the purpose of assessing the level of compliance with mandatory disclosure IFRS Convergence 2012 for consumer goods companies listed in the Indonesian Stock Exchange within the period of 2011-2012. The sample is selected using </em><em>purposive sampling techniques and twenty seven (27) research samples are acquired in the consumer goods industry. To measure the level of compliance with mandatory disclosure, the </em><em>Dichotomous method is used in this research by using items from the </em><em>IFRS Presentation &amp; Disclosure Checklist issued by </em><em>Deloitte in 2012.</em></p><p><em>The result of this research shows that the average level of compliance with mandatory disclosure IFRS Convergence 2012 for consumer goods companies is 75.95% which can be seen from four PSAK, i.e. PSAK 14, PSAK 16, PSAK 13 and PSAK 30.The highest level is from PSAK 16, followed by PSAK 14 in second, and PSAK 13 and PSAK 30 in third and fourth respectively.</em></p><p><em> </em></p><p><strong><em>Keyword:</em></strong><em> </em><em>International Financial Reporting Standards (IFRS) Convergence,  Compliance, Mandatory disclosure level</em><em>, International Accounting Standards, C</em><em>onsumer goods company</em></p>

scholarly journals Pricing of fair value instruments reported under International Financial Reporting Standards 7: South African setting

2019 ◽  
Vol 22 (1) ◽  
Author(s):  
Hopewell Hlatshwayo ◽  
Mbalenhle Zulu
Keyword(s):  
Financial Reporting ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Market Pricing ◽  
Financial Reporting Standards ◽  
Ifrs 7 ◽  
Level 3 ◽  
Equity Ratio ◽  
Level 1

Background: Prior literature established that different fair value levels disclosed in terms of the International Financial Reporting Standards (IFRS) 7 are value relevant.Setting: This study investigates the market pricing of the different fair value levels, as well as the market reaction towards the fair value hierarchy levels reported in terms of IFRS 7.Aim: Prior research found inconsistencies in the market pricing of fair value levels. This study seeks to contribute to this debate. It also focuses on the period after comprehensive guidance on how to measure fair value levels was issued.Methods: Data from 2009 to 2015 were collected from the financial sector companies listed on the Johannesburg Stock Exchange. The study uses the statement of financial position and the Ohlson model to investigate the market pricing of the different fair value levels disclosed in terms of IFRS 7.Results: The results of the study show that the fair value of assets level 1, 2 and 3, as well as the fair value of liabilities level 3 are value relevant while the fair value of liabilities level 1 and 2 are not value relevant. Furthermore, the market pricing of level 2 and 3 fair value assets and liabilities is not lower for companies with a high debt equity ratio than for companies with a low debt equity ratio. The results further reveal that the pricing of level 3 assets improved with the introduction of IFRS 13 and post the 2008 financial crisis.Conclusion: Fair value assets across different hierarchy levels are value relevant. On the contrary, fair value liabilities are priced differently across the different hierarchy levels.

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