scholarly journals Does Accounting Influence Finance? The Case of IFRS 9 and Fuel Hedging

2021 ◽  
Vol 16 (12) ◽  
pp. 1
Author(s):  
Francesco Bellandi
Keyword(s):  
Management Practice ◽  
Accounting Standards ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Time Value ◽  
Hedge Accounting ◽  
Other Comprehensive Income ◽  
Ias 39 ◽  
Ifrs 9 ◽  
Effectiveness Assessment

Finance does influence accounting, for example it is known that hedge accounting under International Accounting Standards Board (IASB) (2019), IFRS 9 has been more aligned to risk management practice. Although, as commonly held, accounting represents the substance of economic events without modifying them, opportunities offered by a new accounting standard may affect finance strategies. This paper studies how the IASB (2019), IFRS 9 hedge accounting requirements versus IASB (2014), IAS 39 have modified fuel hedging practice for a sample of IFRS airlines. Hedge accounting under the new standard results to have been adopted by a very large proportion of the sample. Its new features of risk component hedges, accounting for time value of option, forward points, or basis spread in other comprehensive income (hereafter, OCI), and simplified effectiveness assessment have been exploited by most of the sampled companies, although a definite explanation as an accounting strategy is only partially disclosed. In a context where fuel cost is one, if not the most significant caption of operating expenses of airlines, IASB (2019), IFRS 9 has provided an incentive to expand the use of fuel hedging, at least for accounting purpose.

The Case Analysis of Presentation and Disclosure about other Comprehensive Income

2014 ◽  
Vol 687-691 ◽  
pp. 4691-4694
Author(s):  
Xing Wei
Keyword(s):  
Accounting Standards ◽  
Case Analysis ◽  
Financial Statement ◽  
International Accounting ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Comprehensive Income ◽  
Other Comprehensive Income ◽  
China National Petroleum Corporation ◽  
Year 2013

This article selects the financial statement established by the CNPC(China National Petroleum Corporation) for the year 2013 according to the Chinese accounting standard for business enterprises as an example, analysis of the problems of presentation and disclosure of other comprehensive income in our country, and contrast and analyze the stipulation about other comprehensive income presentation and disclosure stipulated by the IAS (International Accounting Standards) and FASB statements.

scholarly journals ‘Europa moet IFRS goedkeuren, nú!’

2004 ◽  
Vol 78 (10) ◽  
pp. 418-419
Author(s):  
Ruud Vergoossen
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Hedge Accounting ◽  
Ias 39 ◽  
International Accounting Standards Board

Europe has to endorse the International Financial Reporting Standards’, verzucht Sir David Tweedie, voorzitter van de International Accounting Standards Board (IASB), tijdens een interview dat ik afgelopen zomer met hem had1. Het wil maar niet boteren tussen de IASB en de Europese Commissie. Langer dan een jaar wordt er al gesteggeld over de goedkeuring van IAS 39 over de verwerking en waardering van financiële instrumenten. Het ziet er momenteel (augustus 2004) niet naar uit dat de Europese Commissie IAS 39 volledig zal gaan voorschrijven, omdat zij meent dat de IASB onvoldoende in haar richting is opgeschoven. In plaats daarvan overweegt de Europese Commissie IAS 39 weliswaar goed te keuren, maar een aantal bepalingen in deze standaard tijdelijk buiten werking te stellen. Het betreft bepalingen op het gebied van hedge accounting en de waardering van financiële verplichtingen tegen reële waarde.

scholarly journals Hedge Accounting: International Financial Reporting Standards e Normas do Banco Central do Brasil

2020 ◽  
Author(s):  
Sérgio de Iudícibus ◽  
Ana Paula Correia Lacanna ◽  
José Everardo Alves Pereira ◽  
Ilse Maria Beuren
Keyword(s):  
Financial Reporting ◽  
Reporting Standards ◽  
Accounting Standard ◽  
Generally Accepted Accounting Principles ◽  
Financial Reporting Standards ◽  
Hedge Accounting ◽  
Accounting Principles ◽  
Ias 39 ◽  
Ifrs 9 ◽  
International Accounting Standard

Em 2008 foi anunciada a revisão do International Accounting Standard (IAS 39), segmentada em três etapas principais, a classificação e mensuração dos instrumentos financeiros, a introdução de uma nova metodologia para o cálculo de perda incorrida (impairment) e hedge accounting. Esse projeto resultou na publicação, em julho de 2014, na nova norma dos Instrumentos Financeiros, a IFRS 9. O objetivo deste estudo é analisar os principais impactos trazidos pela IFRS 9, frente aos normativos contábeis do Plano Contábil das Instituições do Sistema Financeiro Nacional (COSIF), no que tange à contabilização de hedge accounting. Realizou-se a análise dos normativos locais e internacionais, e de modo complementar um estudo de caso, por meio da análise das demonstrações contábeis brasileiras no Generally Accepted Accounting Principles do Banco Société Générale do Brasil, com data-base de 30 de junho de 2017. Os resultados da pesquisa mostram que, com as alterações trazidas pelo IFRS 9, maior detalhamento das informações sobre o hedge accounting passou a ser exigido, o que impacta consideravelmente o conteúdo e o formato atual das notas explicativas. Este estudo tem como principal contribuição a demonstração de que os requerimentos locais das divulgações dos instrumentos financeiros precisam de adequações.

scholarly journals Revising the Conceptual Framework of the International Standards: IASB Proposals Met with Support and Skepticism

2016 ◽  
Vol 2 (1) ◽  
pp. 1 ◽  
Author(s):  
Christopher W. Hoffman
Keyword(s):  
Conceptual Framework ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Standards ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Accounting Standard ◽  
Other Comprehensive Income ◽  
The U.S

This article analyzes the current financial reporting issue regarding the updates proposed by the International Accounting Standards Board (IASB) to the Conceptual Framework for Financial Reporting. Since accounting standard-setters have embraced the notion of concepts as a guide and foundation to developing accounting standards, the IASB has concluded that there should be more importance place on developing a solid framework. Based on current literature and the fact that the Financial Accounting Standards Board (FASB) in the U.S. has a solid framework in place, the IASB has designed proposed updates to their framework and requested comments from the general public regarding those updates. This article evaluates the comments made by 72 respondents and tabulates the responses based on agree, disagree, or no comment. These results concluded that 66% of the responses were positive toward the updates, but 29% were negative. The disagreement was focused around four main topics: (1) prudence; (2) statement of profit or loss; (3) statement of other comprehensive income; and (4) rebuttable presumption for recycling. The IASB hopes to assimilate, deliberate, and disseminate the suggestions, comments, and the updates in 2016.

THE EVOLUTION OF THE RELATIONSHIP BETWEEN THE US FINANCIAL ACCOUNTING STANDARDS BOARD AND THE INTERNATIONAL ACCOUNTING STANDARD SETTERS: 1973–2008

2012 ◽  
Vol 39 (1) ◽  
pp. 1-51 ◽  
Author(s):  
Robert J. Kirsch
Keyword(s):  
Accounting Standards ◽  
Financial Accounting ◽  
Working Relationships ◽  
International Accounting ◽  
International Accounting Standards ◽  
Financial Accounting Standards Board ◽  
Accounting Standard ◽  
Staff Members ◽  
The Us ◽  
The Relationship

ABSTRACT Utilizing archival materials as well as personal interviews and correspondence with personnel of the Financial Accounting Standards Board (FASB) and International Accounting Standards Committee/Board (IASC/B), including former Board chairmen and staff members, this paper examines the development of the working relationships between the FASB and the IASC/B from their earliest interactions in 1973 through the transformation of the IASC into the IASB and the Convergence Program rooted in the 2002 Norwalk Agreement up to 2008.

scholarly journals MENGUPAS PERSOALAN STANDAR AKUNTANSI KEUANGAN - GOODWIL DI BERBAGAI NEGARA : SUATU PENDEKATAN STUDI LITERATUR

2017 ◽  
Vol 2 (2) ◽  
Author(s):  
Deddy Kurniawansyah
Keyword(s):  
Research Method ◽  
Intangible Assets ◽  
Accounting Standards ◽  
Financial Statements ◽  
Fair Value ◽  
Financial Accounting ◽  
International Accounting Standards ◽  
Fair Value Accounting ◽  
Literature Study ◽  
Accounting Standard

This literature study explains and describe the development of the concept of goodwill from the perspective of accounting by observing and describing until the development at this time, discusses differences in accounting standards of goodwill applicable in some countries, and explains the things that contradict the goodwill. This research method used qualitative with literature study. The results of this study are in some countries, the concepts and rules on goodwill accounting have undergone various changes, including international accounting standards issued by the IASC. Initially goodwill is capitalized and amortized over no more than 20 years. But, along with the increasing use of fair value accounting in accounting standards, thetreatment for goodwill also experienced a shift that is eliminated by the amortization method is replaced by doing impairment test to goodwill. The results of this study contribute as add to the treasury of financial accounting literature, especially accounting treatment of goodwill as intangible assets in the financial statements of various countries such as Indonesia, America and the England.Keyword :Goodwiil, Impairment, Financial Accounting Standard

Strategic Experts and Improvising Regulators: Explaining the IASC's Rise to Global Influence, 1973–2001

2005 ◽  
Vol 7 (3) ◽  
pp. 1-26 ◽  
Author(s):  
Leonardo Martinez-Diaz
Keyword(s):  
Developing Countries ◽  
International Organizations ◽  
Accounting Standards ◽  
Core Values ◽  
Securities And Exchange Commission ◽  
International Accounting Standards ◽  
Technical Expertise ◽  
Accounting Standard ◽  
The Us ◽  
Global Influence

This article traces the ascent of the International Accounting Standards Committee (IASC) from an obscure group with little influence in the early 1970s to a pre-eminent position as global accounting standard-setter in 2001. I argue that the rise of the IASC can be explained by several factors, including the IASC's ability to build legitimacy through technical expertise, to embed itself in a network of international organizations, and to benefit from rivalries among developed and developing countries and among European and American regulators. But the most important reason for the IASC's success is that its core values aligned strongly with the interests of the most powerful regulator-the US Securities and Exchange Commission.

scholarly journals IAS 39 and IFRS 9: Effects of Changing Accounting Standards for Financial Instruments on the Financial Asset Management of Commercial Banks in the Sekondi-Takoradi Metropolis of Ghana

2020 ◽  
Vol 10 (1) ◽  
pp. 58
Author(s):  
Charles Ayariga
Keyword(s):  
Asset Management ◽  
Commercial Banks ◽  
Accounting Standards ◽  
Financial Asset ◽  
Financial Instruments ◽  
Descriptive Research ◽  
Alpha Reliability ◽  
Ias 39 ◽  
Ifrs 9 ◽  
Moderate Effect

The purpose of the study was to investigate the effects of changing accounting standards for financial instruments on the financial asset management of commercial banks in the Sekondi-Takoradi Metropolis (STM), focusing on IAS 39 and IFRS 9. Descriptive research design was used. The population was branch managers and account/audit/finance staff of 13 commercial banks in the metropolis who were 91 in number. The census method was used to capture all subjects within the accessible population. Questionnaire with a Cronbach alpha reliability coefficient of 0.871 was used to collect the data. Out of the 91 questionnaires administered, the researcher was able to retrieved 73 completed and accurate questionnaires from the respondents. Both descriptive and inferential statistical tools were used to analyse the data. The findings of the study revealed that requirements of IFRS 9 have been welcomed by commercial banks in STM. The replacement of accounting standards for financial instruments, from IAS 39 to IFRS 9, has moderate effect on the effectiveness of the financial asset management of the banks. It was recommended to management of the banks to ensure that branch managers, and account/audit/finance staff are abreast with IFRS 9 compliance. This will help them adapt meaningfully to the changing accounting standards for financial instruments, especially from IAS 39 to IFRS 9, in order to help manage the financial asset of the banks effectively.

The Contrast Research of Presentation and Disclosure about other Comprehensive Income

2014 ◽  
Vol 687-691 ◽  
pp. 5080-5084
Author(s):  
Xing Wei
Keyword(s):  
United States ◽  
Accounting Standards ◽  
The United States ◽  
Financial Accounting ◽  
International Accounting ◽  
International Accounting Standards ◽  
Comprehensive Income ◽  
Other Comprehensive Income ◽  
Income Reporting

This article compares and analyzes the distinguish between the accounting standards for enterprises in our country about other comprehensive income reporting and disclosure of financial accounting standards from the IAS (International Accounting Standards) and the FASB in the United States, through four aspects as the meaning of other comprehensive income, the concrete content and accounting, presentation and disclosure.

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