scholarly journals Utilidad de la Contabilidad para emprendedores no obligados a llevar contabilidad

2020 ◽  
Vol 4 (8) ◽  
pp. 65-85
Author(s):  
Pablo Domingo Vilela Mera ◽  
◽  
Elizabeth Jacqueline Govea Robinzón ◽  
Gabriela Elizabeth Vilela Govea ◽  
◽  
...  
Keyword(s):  
Interest Rates ◽  
Financial Reporting ◽  
Bank Loans ◽  
Economic Activities ◽  
Registration Method ◽  
Financial Reporting Standards ◽  
Goods And Services ◽  
Low Interest Rates ◽  
Accounting Control ◽  
Economy Globalization

The development of the economy, globalization, and technologies of information and communication influenced accounting science to upgrade their postulates with the International Financial Reporting Standards (IFRS). Those new rules were made to unify the registration method, summarize and inform the companies’ economic operations looking to improve its analysis and interpretation. Due to this, a lot of new businesses were created worldwide as independent jobs because of the few opportunities generated by the automation of the production of goods and services. Most of them were formed as people’s entrepreneurs by using their daily savings, family support, or bank loans with low-interest rates. As consequence of more economic activities, the tax weight also increased and, thereby, better accounting control to determine the amount payable of every operation was required. In Ecuador, the entrepreneurs not required to bookkeeping must have daily control of incomes and expenses to establish their taxes, which is the reason for doing this investigation, mainly because they don’t have the academic studies nor enough profit to afford accountant’s wage. The main purpose of this work was to train them to keep accounting by themselves in which they can control their activities through designing and applicating an easy-to-use generic columnar journal. Keywords: accounting, entrepreneur, business, results.

scholarly journals The Effects of Financial Reporting on Bank Loan Contracting in Global Markets: Evidence from Mandatory IFRS Adoption

2015 ◽  
Vol 14 (2) ◽  
pp. 45-81 ◽  
Author(s):  
Tai-Yuan Chen ◽  
Chen-Lung Chin ◽  
Shiheng Wang ◽  
Wei-Ren Yao
Keyword(s):  
Interest Rates ◽  
Financial Reporting ◽  
Bank Loans ◽  
Bank Loan ◽  
Accounting Quality ◽  
Firm Level ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Loan Contracting ◽  
The 2008 Financial Crisis

ABSTRACT This study examines the effects of the mandatory adoption of International Financial Reporting Standards (IFRS) on the contract terms of bank loans in a global setting. Using a difference-in-differences design based on 26,474 bank loans in 31 countries during the 2000–2011 period, we find that borrowers who mandatorily adopt IFRS experience an increase in interest rates, a reduction in the use of accounting-based financial covenants, an increase in the likelihood that a loan is collateralized, a reduction in loan maturity, and an increase in the fraction of a loan retained by lead arrangers. These findings are robust to the removal of the 2008 financial crisis from our analysis, as well as to the matching of IFRS and non-IFRS borrowers on various country- and firm-level characteristics. Furthermore, we find that these changes are more pronounced for borrowers with greater financial reporting changes, as well as those with poorer accounting quality after IFRS adoption. JEL Classifications: G15; G21; F34; M41.

IFRS IMPLEMENTATION AS ONE OF THE FACTORS FOR IMPROVING THE INVESTMENT CLIMATE IN UKRAINE

2017 ◽  
Author(s):  
Kateryna Sova ◽  
◽  
Natalia Yatsenko ◽  
Denys Zagirniak ◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Direct Investment ◽  
Financial Statements ◽  
International Standards ◽  
Investment Climate ◽  
The European Union ◽  
Economic Activities ◽  
Financial Reporting Standards ◽  
Almost All ◽  
The Impact

The article is devoted to the study of the impact of the introduction of International Financial Reporting Standards (IFRS) on changes in the investment climate in Ukraine. The relevance of the topic is that improving the practice of applying IFRS as a tool for exchanging financial information is one of the key conditions for improving the investment climate in Ukraine. The authors have created the generalized scheme that illustrates the chronological list of enterprises that are required by law to prepare financial statements in accordance with IFRS. It was noted that in 2018, in accordance with Part 2 of Article 12 of the law on accounting and financial reporting in Ukraine and resolution of the Cabinet of Ministers of Ukraine No. 547 from 11.07.2018, the criteria of enterprises that are required to prepare financial statements in accordance with IFRS were updated. This step significantly increased the level of application of international standards due to the adoption of such a decision at the legislative level. The dynamics of the number of IFRS enterprises in Ukraine was analyzed. The analysis showed that over the past three years, the number of almost all enterprises that must apply international standards has been growing. The advantages of using IFRS for different users of financial statements were determined. It was determined that the priority users of IFRS financial statements are investors. At the same time, it was noted that the main advantage for other users of financial statements prepared in accordance with international standards is the improvement of the investment climate. The dynamics of the Investment Attractiveness Index of Ukraine based on the Likert scale in the period from 2016 to 2020 was analyzed. The direct investment receipts to Ukraine from the European Union countries were studied. The dynamics of direct investment in the Ukrainian economy was analyzed for two types of economic activities that should form financial statements in accordance with IFRS, namely, the extractive industry and quarrying, as well as financial and insurance activities.

scholarly journals The development of bank lending to corporate clients in Ukraine in times of economic cycles

2017 ◽  
pp. 72-87 ◽  
Author(s):  
Yaroslav Chaikovskyi
Keyword(s):  
Interest Rates ◽  
Economic Activity ◽  
Bank Lending ◽  
Bank Loans ◽  
Bank Loan ◽  
Economic Activities ◽  
Economic Cycles ◽  
Loan Portfolios ◽  
Major Factors ◽  
Corporate Clients

The article considers bank lending to corporate clients in Ukraine overcoming the issues related to economic cycles. The dynamics of gross domestic product, total assets, and credit portfolios of Ukraine’s banks over the period between 2012 and 2016 is analyzed. The changes in the composition of bank loans to non-financial corporations are analyzed in terms of scheduled payments, forms of currencies, target allocation and economic activities. Additionally, the dynamics and composition of residents’ deposits mobilized by deposit-taking corporations are considered in terms of scheduled payments over the above period. The major factors that hinder the recovery of bank lending to corporate clients are identified. It is highlighted that the main obstacles to the development of banking lending to corporate clients in Ukraine in times of economic cycles are as follows: high interest rates; a significant percentage of unprofitable enterprises and loan arrears in bank loan portfolios; an increase of non-performing loans (NPL); the fact that banks, having sufficient liquidity for lending to economy-boosting projects, prefer to purchase government securities; corrupt practices of granting loans to affiliated companies (insider loans). The percentage of unprofitable enterprises in Ukraine in 2016 is determined and analyzed by type of economic activity. Based on the analysis performed, some assumptions are made about the trends of the development of bank lending to corporate clients in Ukraine and proposals on further harmonization of bank lending to corporate clients in times of economic cycles are set out.

An Alternative Approach to Distinguishing Liabilities from Equity

2020 ◽  
Author(s):  
Mary S. Hill ◽  
Richard A. Price ◽  
George Ruch
Keyword(s):  
Financial Reporting ◽  
Classification Scheme ◽  
Reporting Standards ◽  
Accounting Profession ◽  
Financial Reporting Standards ◽  
Goods And Services ◽  
Alternative Approach ◽  
Fundamental Distinction ◽  
External Capital

In response to a longstanding debate within the accounting profession on how to clearly distinguish liabilities from equity, we offer an alternative liability-equity classification scheme (the "Earned Capital Approach") in which capital acquired in exchange for issuing claims ("external capital") is classified as liabilities and capital acquired in exchange for providing goods and services ("earned capital") is classified as equity. The Earned Capital Approach differs from the approach underlying current financial reporting standards in that it is based on a fundamental distinction between the firm and its claimants rather than a distinction between types of claimants (e.g., owners versus creditors). In this paper, we summarize the accounting profession's ongoing attempts to distinguish liabilities from equity and discuss the conceptual underpinnings and financial reporting implications of the Earned Capital Approach.

Achieving Price Stability in Nigeria: Monetary Policy Rate Approach vs. Foreign Exchange Policy Approach

2013 ◽  
Vol 03 (02) ◽  
pp. 32-43
Author(s):  
Ezekiel Oseni
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Foreign Exchange ◽  
Developing Economies ◽  
Price Stability ◽  
Economic Activities ◽  
Exogenous Factor ◽  
Monetary Policies ◽  
Goods And Services ◽  
The Impact

Earlier studies have reached a consensus that monetary policies generate more economic activities than fiscal policies in developing economies. This study has bridged the existing gaps in earlier studies by addressing the question of which of the instruments of macroeconomics is more effective in achieving price stability remains largely unanswered. The study observed that the presence of exogenous factor was responsible for the inability of the tight monetary policies of the CBN to mob excess liquidity from the economy. In the same vein, the exogenous factor destabilizes the steady economic growth that would have emanated from a relaxed monetary policy. The study also found foreign exchange rates (fx) to be a more effective instrument to achieving price stability than monetary policy rates (mpr). The Nigerian economy is largely import dependent with most of the importation being consumable goods and services and less of productive (capital) goods. The impact of changes in fx are more pronounced on the economy than changes in the interest rates. The attainment of price stability would become feasible if the apex bank accords priority to the formulation and deployment of foreign exchange policies that are sound in principle and effective in practice.

How Does Microfinance Empower Women in Nigeria?

2019 ◽  
pp. 1-22
Author(s):  
Ezebuilo R. Ukwueze ◽  
Henry T. Asogwa ◽  
Onyinye M. David-Wayas ◽  
Chisom Emecheta ◽  
Johnson E. Nchege
Keyword(s):  
Interest Rates ◽  
Logit Model ◽  
Women Empowerment ◽  
Microfinance Institutions ◽  
Economic Activities ◽  
Rural Sector ◽  
Empirical Economics ◽  
The Poor ◽  
Low Interest Rates ◽  
Heated Debate

That microfinance institutions empower women has become a heated debate at both theoretical and empirical economics. A large proportion of women in developing countries are characterized by segregation, relegation, poverty, vulnerability; majority of them engaged in agriculture and related economic activities, while a few others have menial jobs. The objective of this chapter is to determine how microfinance has empowered women in Nigeria. It employed propensity score matching and logit model to estimate the effect of microfinance on women empowerment and welfare. The results show that age of women, education, belonging to saving association, and operating an account are the determinants of women empowerment and welfare as they access finance from the microfinance banks. It was also observed that there is disparity among women who have access to liquidity. It is recommended that more microfinance banks be cited in the rural sector where the majority of the poor reside, policies like low interest rates, national awareness, and incentives for more women to access micro-credits.

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