Indian Debt Market: Need for More Reforms

The Indian debt market while made out of securities, both Government and Corporate, is really overwhelmed by G-Sec with more than 90 per cent of Indian debt market, leaving little space for corporate securities. The focal government securities are the dominating and most fluid segments of the security market. Nonetheless, regardless of the expanded volumes, the quantity of members is restricted to around two dozen dynamic players. The focal government securities are the dominating and most fluid segments of the security market. Nonetheless, regardless of the expanded volumes, the quantity of members is restricted to around two dozen dynamic players. Since a lion's share of members is AAA – evaluated and 80 per cent of exchange is immediate, there exist settlement hazards. The market would further develop once uniform guidelines on accounting, valuation and so on are in place. Therefore, this paper highlights the need for more reform in Indian debt market.

Procedures for conducting an internal audit of current assets at agricultural enterprises

The article reviews the features of using procedures for organizing and conducting an internal audit of current assets — the most mobile types of property of agricultural enterprises. The internal audit procedures are based on the principles of normative and legal acts, regulating the rules for accounting, valuation and control of current assets. The forms of working documents of internal audit are presented, which suggest ways of performing accounting and control procedures at agricultural enterprises.

Evaluation of Tangible Fixed Assets

The notion of tangible fixed assets can be interpreted as the heart, center or engine of an enterprise because it is expected to give rise to future economic benefits, namely, to contribute, both directly and indirectly, to the realization of the cash flows of investment activity. The importance of these fixed assets is clear from the fact that no company will be able to carry on its activity if it does not have tangible fixed assets in its assets, regardless of how they are purchased, for example: by acquisition, by building in its own right or by donation. The purpose of this article is to present the accounting treatment for the recognition, accounting, valuation and reassessment of these assets within an enterprise. The reason for choosing this issue was to highlight the importance that these tangible assets have at the level of each economic company. Certainly, these assets cannot be deprived of the assets of any economic agent because, in my opinion, they are the main pillar in any business.

Business in times of crisis

Government bailouts of corporate sectors in the COVID-19 crisis are part of a tripartite arrangement between government, business and institutional investors. Business should respond to the changing preferences of customers, employees and societies by identifying value propositions that justify the provision of risk capital by institutional investors. Critical to this is the determination and implementation of corporate purposes by owners and board directors that focus on inter-generational horizons. Family owners are particularly well placed to do this, but institutional investors need to make it part of their stewardship function as well. Measurement is key and significant reforms are required in the areas of accounting, valuation and reporting. Consistent with these observations, companies that had strong environmental, social and governance records performed better during the initial stages of the crisis, as did family owned firms and those that avoided high levels of leverage prior to the crisis.

Review and Comments on Accrual Accounting Valuation Models

Early work by Miller and Modigliani (1961) proposes that a firm’s value is irrelevant to its dividend policy and relevant to its risk (i.e., earnings risk, volatility risk...) (Modigliani and Miller 1958). Inspired by Miller and Modigliani’s works, a line of research has developed accrual accounting valuation models based on the results of dividends policy irrelevance (i.e., Feltham and Ohlson, 1995; Ohlson, 1995; Penman, 2010; and etc.). Because of the profound effects of the accrual accounting valuation models on academic research and investment practices, any possible improvements will not be trivial. This paper reviews two popular accrual accounting valuation models and provides some comments on these models and future research suggestions for this line of research.