Recht- und zweckmäßiges Handeln des Geschäftsleiters bei der Abschlusserstellung

Business Judgment Rule ◽

Commercial Code ◽

German Stock ◽

A Company ◽

Stock Corporation

Considering the planned amendments under the Financial Market Integrity Strengthening Act, the author first analyzes to what degree IFRS and reporting standards under the German Commercial Code grant managers discretion when preparing the annual and consolidated financial statements of a company. She then examines how to exercise such discretion in accordance with § 93 subsection 1 of the German Stock Corporation Act and to what extent accounting decisions are protected by the business judgment rule.

A Comparative study on the liability of the shadow directors under the German Stock Corporation Act and the Korean Commercial Code

Korea Financial Law Association ◽

10.15692/kjfl.13.1.7 ◽

2016 ◽

Vol 13 (1) ◽

pp. 231-255

Author(s):

Ji-Hyun Cho

Keyword(s):

Comparative Study ◽

Commercial Code ◽

German Stock ◽

Stock Corporation

Improving The Preparation Of Consolidated Financial Statements In Insurance Companies In Accordance With The Requirements Of International Financial Reporting Standards

The American Journal of Interdisciplinary Innovations and Research ◽

10.37547/tajiir/volume02issue07-16 ◽

2020 ◽

Vol 02 (07) ◽

pp. 95-108

Author(s):

Ochilov Ilyos Keldiyorovich ◽

◽

Keyword(s):

Financial Reporting ◽

Financial Statements ◽

Insurance Companies ◽

International Financial Reporting Standards ◽

Reporting Standards ◽

Financial Reporting Standards

The influence of culture on disclosures in financial statements prepared under International Financial Reporting Standards

Zeszyty Teoretyczne Rachunkowości ◽

10.5604/01.3001.0013.0758 ◽

2019 ◽

Vol 2019 (101 (157)) ◽

pp. 111-132 ◽

Cited By ~ 1

Author(s):

Jerzy Gierusz ◽

Katarzyna Koleśnik

Keyword(s):

Financial Reporting ◽

Comparative Studies ◽

Financial Statements ◽

Arab Countries ◽

International Financial Reporting Standards ◽

Reporting Standards ◽

Financial Disclosures ◽

The Impact

The primary objective of this article is to investigate the impact of culture (as measured by Hofstede) on disclosures in financial statements prepared under International Financial Reporting Standards (IFRS) by firms from different countries. The sample comprises 2011−2013 consolidated financial statements of stock companies (excluding banks, insurance, and other financial institutions) from four countries repre- senting different cultural areas: the United Kingdom (Anglo), Germany (Germanic), Poland (Central Eastern Europe; CEE) and Kuwait (Arab). The research material came from 312 annual consolidated financial statements from 104 companies. The results reveal that cultural values have a significant impact on financial disclosures even after the use of IFRS. The paper is one of the few comparative studies attempting to assess the effects of culture on financial disclosures in Western Europe countries, CEE countries and Arab countries. Most of the international comparative studies in this research area have neglected CEE and Arab countries.

Predicting Audit Opinion in Consolidated Financial Statements with Artificial Neural Networks

Mathematics ◽

10.3390/math8081288 ◽

2020 ◽

Vol 8 (8) ◽

pp. 1288

Author(s):

José Ramón Sánchez-Serrano ◽

David Alaminos ◽

Francisco García-Lagos ◽

Angela M. Callejón-Gil

Keyword(s):

Financial Statements ◽

Board Members ◽

Financial Situation ◽

Audit Opinion ◽

Industry Group ◽

Decision Making Processes ◽

Artificial Neural ◽

And Control ◽

A Company

The models for predicting audit opinion analyze the variables that affect the probability of obtaining a qualified opinion. This helps auditors to plan revision procedures and control their performances. Despite their apparent relevance, existing models have only focused on the context of individual financial statements and none have referred to consolidated financial statements. The consolidated information is essential for decision-making processes and understanding the true financial situation of a company. Our objective is to provide a new audit opinion prediction model for consolidated financial statements. To this end, a sample of group of Spanish companies was chosen and an artificial neural network technique, the multilayer perceptron, was used. The results show that the developed method managed to predict the audit opinion with accuracy above 86%. Moreover, there exist important differences concerning the most significant variables in the audit opinion prediction for individual accounts, since when using consolidated financial statements, the variables referring to industry, group size, auditor, and board members were converted into the main explanatory parameters of the prediction.

Вестник ГГНТУ. Гуманитарные и социально-экономические науки ◽

TAX RISKS IN THE OIL AND GAS SECTOR OF THE RUSSIAN ECONOMY

10.34708/gstou.2019.15.1.015 ◽

2019 ◽

Author(s):

А.Х. Цакаев ◽

А.Р. Батукаева

Keyword(s):

Financial Reporting ◽

Oil And Gas ◽

Financial Statements ◽

International Financial Reporting Standards ◽

Reporting Standards ◽

Russian Economy ◽

Oil And Gas Companies ◽

Oil And Gas Sector

Представлены результаты оценки налогового риска ПАО НК Роснефть , ПАО Газпром и ПАО ЛУКОЙЛ согласно общедоступным критериям самостоятельной оценки рисков для налогоплательщиков Концепции планирования выездных налоговых проверок, исходя из данных консолидированной финансовой отчетности, подготовленной в соответствии с международными стандартами финансовой отчетности, позволившие сделать вывод о предложении по преобразованию данной Концепции под международные стандарты финансовой отчетности. Сформулированы предложения по обеспечению снижения уровня налоговых рисков в деятельности российских нефтегазовых компаний Results of assessment of tax risk of PJSC Rosneft, PJSC Gazprom and PJSC Lukoil according to public criteria of independent risk assessment for taxpayers of the Concept of planning of exit tax audits, proceeding from data of the consolidated financial statements prepared according to International Financial Reporting Standards, allowed to draw a conclusion on the offer on transformation of this Concept under International Financial Reporting Standards are presented. Offers on ensuring decrease in level of tax risks in activity of the Russian oil and gas companies are formulated.

HARMONIZATION OF UKRAINIAN ACCOUNTING AND FINANCIAL REPORTING STANDARDS IN ACCORDANCE WITH THE ACCOUNTING DIRECTIVE (2013/34/EU) REQUIREMENTS

Science and Studies of Accounting and Finance Problems and Perspectives ◽

10.15544/ssaf.2014.32 ◽

2014 ◽

Vol 9 (1) ◽

pp. 290-294

Author(s):

Svitlana Zubilevych

Keyword(s):

Financial Reporting ◽

Financial Statements ◽

Reporting Standards ◽

Association Agreement ◽

Current Classification ◽

The Eu

The paper considers the possible impact of the Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings on reporting in Ukraine with reference to signing the EU-Ukraine Association Agreement. The author then suggests possible changes in the current classification of companies, formats and components of financial statements, as well as accounting methods.

Advances in Psychology, Mental Health, and Behavioral Studies - Neuroeconomics and the Decision-Making Process ◽

Behavioral Stream in Polish Accounting

10.4018/978-1-4666-9989-2.ch013 ◽

2016 ◽

pp. 246-261 ◽

Cited By ~ 1

Author(s):

Nelli Artienwicz

Keyword(s):

Financial Market ◽

Behavioral Finance ◽

Financial Statements ◽

Behavioral Research ◽

Market Participants ◽

A Company

Information which financial market participants use to make their decisions comes directly and indirectly from accounting. Although finance and accounting use the language of numbers which appear to be very clear and plain, it is obvious that sums presented in financial statements and then interpreted and used by financial managers and investors and other stakeholders are very subjective. The goal of this chapter is to pay attention to the implications of behavioral research in accounting and its new stream – neuroaccounting – for behavioral finance. It is argued that accounting should be considered by behavioral finance researchers because the product of accounting in the form of reports, statements, and different analyses represents not only economic standing of a company, but also those behind the scenes.

Вестник Тверского государственного университета. Серия: Экономика и управление ◽

PROCEDURES FOR PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

10.26456/2219-1453/2021.2.217-226 ◽

2021 ◽

pp. 217-226

Author(s):

Лэйля Камаровна Мусипова

Keyword(s):

Financial Reporting ◽

Financial Statements ◽

Reporting Standards ◽

Reporting Standard ◽

International Financial Reporting Standard ◽

Financial Reports ◽

Business Structures ◽

Performance Results

Помимо обычной финансовой отчетности некоторые предприятия Казахстана обязаны формировать и предоставлять консолидированную финансовую отчетность согласно требованиям международных стандартов финансовой отчетности. Статья посвящена особенностям составления и представления консолидированной отчетности в соответствии с международным стандартом финансовой отчетности 10 (IFRS) «Консолидированная финансовая отчетность». Целью исследования является рассмотреть понятие консолидированной отчетности, требования по ее составлению, порядок формирования и провести анализ потребность в составлении и представлении консолидированной финансовой отчетности. Наряду с этим представлена практика полной консолидации на условном примере с учетом требований международных стандартов финансовой отчетности, а также проблемы, с которыми сталкиваются представители бизнес-структур при формировании и представлении консолидированной финансовой отчетности. Научная новизна полученных результатов заключается в разработке приемов и методов составления и совершенствования консолидированной отчетности, которая позволит преодолеть сложности при формировании результатов деятельности за определенный отчетный период группы в целом. Along with the standard financial reports, some enterprises in Kazakhstan are required to form and submit consolidated financial reports in accordance with the requirements of international financial reporting standards. The article is devoted to the peculiarities of creating and presenting consolidated financial reports in accordance with International Financial Reporting Standard 10 (IFRS) «Consolidated Financial Reporting». The aim of the study is to examine the concept of consolidated financial statements, the requirements for its formation, and the analysis of the need for the preparation and presentation of consolidated financial statements. In addition, the practice of full consolidation was studied and presented on the example of all the consolidation requirements of IFRS 10 (IFRS) «Consolidated Financial Reporting», as well as various issues business structures deal with during the process of formation and presentation of consolidated financial statements. The scientific novelty of the results obtained is the development of techniques and methods for the preparation and improvement of consolidated reporting, which makes it possible to overcome the complexity of the formation of performance results for a certain reporting period of the group as a whole.

Disclosure of Subsidiaries with Non-controlling Interest in Accordance with IFRS 12: Case of Materiality

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis ◽

10.11118/actaun201664010275 ◽

2016 ◽

Vol 64 (1) ◽

pp. 275-281 ◽

Cited By ~ 2

Author(s):

Tereza Gluzová

Keyword(s):

Financial Reporting ◽

Value Relevance ◽

Stock Exchange ◽

Financial Statements ◽

Parent Company ◽

Reporting Standards ◽

Disclosure Requirements ◽

Definition Of

Consolidated financial statements present aggregated information for parent company and its subsidiaries. For non-wholly owned subsidiaries, International Financial Reporting Standards require non-controlling interest to be presented within consolidated equity to distinguish it from the amount of equity attributable to the shareholders of the parent. Since 2014, new standards on consolidation introduced broadened disclosure requirements for subsidiaries with material non-controlling interest. Definition of material non-controlling interest however is not included in the standards. The article provides the analysis of the financial statements published by companies listed on Prague Stock Exchange. Main focus is given to assessment criteria applied to identify material non-controlling interest. Consequently, study of compliance with the disclosure requirements for selected companies has been undertaken. The results of the analysis indicate whether value relevance of financial statements has been improved as a result of the new disclosures.

Upward Revaluation of Fixed Assets

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v4i1.2629 ◽

2011 ◽

Vol 4 (1) ◽

Author(s):

Zhemin Wang

Keyword(s):

Economic Value ◽

Financial Statements ◽

Fair Value ◽

International Accounting Standards ◽

Book Value ◽

Fixed Assets ◽

Accounting Numbers ◽

Book Values ◽

A Company

Under the U.S. GAAP, fixed assets are reported at their book values which are derived by deducting accumulated depreciation from the original cost.  Companies are allowed to write down their fixed assets if the value of the fixed assets is impaired.  Under no circumstances can a company write up its fixed assets even if the market value of these assets exceeds their book value.  However, such upward revaluation is allowed under the International Accounting Standards (IAS).  Specifically, as an allowed alternative, IAS No.16, “Property, Plant & Equipment,” permits fixed assets to be revalued periodically and carried at fair value. Significant controversies currently exist regarding the revaluation provision under IAS No.16.  Critics of IAS No.16 have expressed concerns that revaluation of fixed assets is arbitrary and may be used by management to manipulate reported accounting numbers. To address such concerns, this study empirically assesses the reported fixed assets under IAS No.16.  Based on the data of 113 companies whose consolidated financial statements were prepared using IAS, this study documented significant empirical evidence suggesting that fixed assets reported by sample firms under IAS No. 16 reflect their economic value as perceived by investors.  The findings seem to support the use of IAS in preparation of financial statements for cross-border listing of securities.