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Sample records for consolidated financial statements

  1. Consolidated financial statements

    OpenAIRE

    Blaha, Miroslav

    2010-01-01

    This work provides basic information about consolidation and consolidated financial statements. In the beginning there are definisions of the members of the group under discussion and their relationship. Hereafter concepts of consolidation, accounting methods and methods of consolidation are discussed. It also compares approach of different accounting systems to consolidation.

  2. Consolidating Financial Statements.

    Science.gov (United States)

    Wood, Marcia R.

    This publication is designed to be a desktop reference and assist financial officers in both public and independent institutions of higher education in the preparation of consolidated financial statements. Chapter 1 covers generally accepted accounting principles and other accounting literature, and summarizes reporting rules of the Financial…

  3. CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS

    OpenAIRE

    Tănase Alin-Eliodor; Calotă Traian-Ovidiu

    2013-01-01

    This article is focuses on accounting consolidation techniques and the preparation of consolidation worksheets for the components of financial statements (statement of comprehensive income, statement of changes in equity, and financial position). The presented group includes parent company, two subsidiaries (only one fully controlled by the parent company) and a jointly controlled entity. The financial statements are presented under the following standards IFRS 3 Business Combination, IAS 27 ...

  4. FEATURES OF CONSOLIDATED FINANCIAL STATEMENTS: FOREIGN EXPERIENCE

    Directory of Open Access Journals (Sweden)

    S. V. KUCHER

    2016-12-01

    Full Text Available The article researches the features of preparation and submission of the consolidated financial statements of the world countries of different systems of accounting standardization in order to identify the areas of accounting improvement for the process of consolidation of financial reporting indicators. The main problems of consolidated financial statements preparation by business entities in Ukraine are determined. The author determines the theoretical and practical problems of consolidation of financial statements of organizational and methodical character. The comparative analysis of the features of standardization process of financial statements consolidation in the world countries is carried out. The main differences in the requirements for the formation of consolidated financial statements indicators of such countries as the French Republic, the Federal Republic of Germany, the Republic of Belarus and the People’s Republic of China are outlined. The main directions of scientific researches on the improvement of accounting and analytical support for the preparation of consolidated financial statements are formed.

  5. Genesis and Development of Consolidated Financial Statements

    OpenAIRE

    Kostyantyn Bezverkhiy

    2015-01-01

    In the context of economy globalization it is the mission of consolidated financial statements to meet demands of users for financial information about activities of a company group as one company. The article is devoted to study of genesis and development of consolidated financial statements of companies. Historical prerequisites of genesis of consolidated financial statements are shown as well as factors which conduced to their spreading. The approaches are elucidated to preparation of cons...

  6. Control of Bank Consolidated Financial Statements Quality

    Directory of Open Access Journals (Sweden)

    Margarita S. Ambarchyan

    2013-01-01

    Full Text Available The author presents the multiple linear regression model of bank consolidated financial statements quality. The article considers six characteristics that can be used to estimate the level of bank consolidated financial statements quality. The multiple linear regression model was developed, using the results of point-based system of consolidated financial statements of thirty European bank and financial groups on the basis of the developed characteristics. The author offers to use the characteristic significance factor in the process of consolidated financial statements appraisal by points. The constructed regression model is checked on accuracy and statistical significance. The model can be used by internal auditors and financial analytics as an instrument for bank and non-bank consolidated financial statements quality control

  7. Saskatchewan Energy Holdings Ltd. consolidated financial statements

    International Nuclear Information System (INIS)

    1991-01-01

    The consolidated financial statements of Saskatchewan Energy Holdings Ltd. (formerly Saskatchewan Energy Corporation) as of December 31, 1990, and the consolidated statements of earnings and retained earnings and changes in cash position for the year are presented. Data include an inventory of supplies, natural gas in storage, property, plant and equipment. Financial statements are also presented for the year ending December 31, 1989, with comparative figures for the seven months ending December 31, 1988

  8. RTE - Consolidated financial statements 2016

    International Nuclear Information System (INIS)

    2017-01-01

    's financial balances. The strength of RTE's business model led to favourable borrowing conditions. In April 2016, RTE launched a 1 350 million euro bond issue in two tranches, one for 650 million euro at a rate of 1% over 10.5 years, the other for 700 million euro at a rate of 2% over 20 years. These historically low rates extend the average debt maturity and keep financial costs under control. This document comprises a Management report with RTE's Financial and legal information, Company information, Environmental and societal information, and a Consolidated financial statement with detailed financial data and comments

  9. Consolidated financial statements for fiscal year 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-01

    The following overview and accompanying audited financial statements have been prepared for Fiscal Year (FY) 1996 to report the financial position and the results of operations of the Department of Energy. These statements include the consolidated Statement of Financial Position and the consolidated Statement of Operations and Changes in Net Position. The statements have been prepared in accordance with the Office of Management and Budget Bulletin No. 94-01, Form and Content for Agency Financial Statements, and were developed in accordance with the hierarchy of accounting standards described therein. The overview provides a narrative on the Department of Energy`s mission, activities, and accomplishments. Utilizing performance measures as the primary vehicle for communicating Departmental accomplishments and results, this overview discusses the most significant measures while others are discussed in the supplemental information to the financial statements.

  10. SOME APECTS REGARDING THE CONSOLIDATED FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Szora Tamas Atila

    2012-12-01

    Full Text Available The study is divided into four parts: in the introduction are presented the theoretical aspects of the consolidated financial statements and the consolidation methods. During the second part are shown the structure rates calculated prior and after the consolidation, and in the third are calculated the financial rates of return and the effective tax rates of fixed assets. The conclusion of this study presents that although the consolidated entity is not a tax, it presents the group effort without the internal flows between entities within the group. In terms of the world scientific research typology used by the authors, it refers to descriptive research, explanatory research and applied research. In terms of the novelties, brought by this study, it is specifically determined, based on the actual database, the evolution of structure indicators, indicators of balance, the financial profitability indicators of corporate companies prior to and after consolidation.

  11. Usage of internal statements in making consolidated financial statement

    Directory of Open Access Journals (Sweden)

    V.N. Herman

    2016-12-01

    Full Text Available The emergence of the consolidated financial statements is the result of integration processes in the businesses that lead to pooling of different companies. As consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they let you gauge the overall health of an entire group of companies as opposed to one company’s standalone position. Consolidation of financial statements requires from the participants of joining elaborating their individual statements. The article describes the general scheme of consolidation process and defines the key trends of consolidation adjustments, in particular, financial investments, internal operations, goodwill and exchange rate differences. It is found out that to get information about internal operations and financial investments such data have to be synthesized from internal statements. This approach allows using the same accounting methods to parent and subsidiary entities. The objects, the users and the subject domain of internal statements are determined in order to make consolidation of financial statements of joining.

  12. SOME DISCLOSURE ASPECTS REGARDING CONSOLIDATED FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Cirstea Andreea

    2013-07-01

    Full Text Available The purpose of this article is to analyze the current state of consolidated reporting practice harmonization concerning the choice of presenting the income statement, the changes in equity, the methods used for presenting the cash flow statement, the extant methods for evaluating and reporting goodwill, the extant methods in which jointly controlled entities are accounted in the consolidated financial statements, or the choice for recognizing investments in subsidiaries, jointly controlled entities and associates in the separate statements of the parent company. In order to achieve our goal we selected the first 10 groups, in order of their capitalization value, that were listed on each of the following capital markets: London Stock Exchange, NYSE Euronext (Paris Stock Exchange and Deutsche Börse (Frankfurt Stock Exchange and we analyzed, in a qualitative and in a quantitative manner, for a period of six years starting with 2007, their consolidated financial statements with the design to establish exactly which of the aspects stated in the International Financial Reporting Standards were being used for the items presented above. In order to complete the empirical research part of the paper that addresses from a comparative perspective the evaluation of the degree of material harmony between the reporting practices of groups listed on the three stock exchanges above-mentioned, we used statistical and mathematical methods represented by the I Index first described by Van der Tas. Taking into account the fact that since 2005 all listed companies on the European stock exchanges were required to adopt the international accounting standards for their consolidated financial disclosures, the degree of material harmony was studied only in reference to those requirements that presented two methods or possibilities of disclosure.Our findings suggest that the groups analyzed present a high degree of material harmonization with respect to the reporting

  13. Accounting Treatment for Separate and Consolidated Financial Statements

    Directory of Open Access Journals (Sweden)

    Iuliana Oana Mihai

    2015-09-01

    Full Text Available The rules governing the financial statements consolidation have been subject for debates for many years. The financial crisis in 2008 accelerated changes toward new improved standards. The main objective of this article is to explain the key parts of the IASB standards for consolidation of financial statements.

  14. CONSOLIDATED FINANCIAL STATEMENTS IN UKRAINE: NORMATIVE AND LEGAL REGULATION STATE

    Directory of Open Access Journals (Sweden)

    S.V. Kucher

    2016-09-01

    Full Text Available The development of big business in Ukraine has led to the need to release a number of domestic companies and their groups and associations to the international financial market which was the prerequisite of the needs of users of financial statements to obtain reliable information about the activities of such companies. In accordance with the national legislation associations of enterprises and companies have to provide the consolidated financial statements which contain the pooled indices about the activities of these entities. The article analyzes the current state of normative and legal regulation of financial reporting consolidation process in Ukraine. In particular, the paper determines the basic legal acts of regulations of national and international governing process of preparation of consolidated financial statements; it also determines the circle of business entities required to draw up the consolidated financial statements solely in accordance with international financial reporting standards.

  15. Consolidation Process for FY 1997 Financial Statements for Other Defense Organizations

    National Research Council Canada - National Science Library

    1998-01-01

    ... to prepare consolidated financial statements for FY 1996 and each succeeding year. The DoD Consolidated Financial Statements for FY 1997 include financial statements for a reporting entity entitled "Other Defense Organizations...

  16. A BRIEF ANALYSIS OF PUBLIC SECTOR CONSOLIDATED FINANCIAL STATEMENTS RESEARCHES

    Directory of Open Access Journals (Sweden)

    Andreea CÎRSTEA

    2015-12-01

    Full Text Available The purpose of the paper is to track the evolution of this specific topic of consolidated financial statements in the public sector, in order to be able to present a global picture of the actual knowledge stage of this issue at international level. The study conducted for reaching the proposed objective is a quantitative one. We tried to find out how this issue of public sector consolidated financial statements has sparked the interest of researchers around the world and when the issue was most debated. We concluded that the research of consolidated financial statements in the public sector is in its infancy and nowadays the topic starts to be more and more in the attention of the researchers in this field.

  17. Consolidated Financial Statements – in IAS 27 perspective

    Directory of Open Access Journals (Sweden)

    Mihai Deju

    2012-12-01

    Full Text Available The aspects concerning the preparation and publication of the consolidated financial statements have been the subject of the settlement by the Committee for International Accounting Standards (IAS even since 1976 with the publication of IAS 3 “Consolidated financial statements”. Subsequently, the standard has been amended and revised successively, on several occasions. The latest version issued in 2008 includes changes on the accounting of interests that do not control and the loss of control on a subsidiary. The actual version also includes the subsequent amendments resulting from IFRS issued until 31st of December 2010. This paper presents the essential aspects of IAS 27 (the actual version and a practical example of how to elaborate consolidated accounts in accordance with this standard.

  18. SOME ASPECTS REGARDING THE THEORIES OF CONSOLIDATED FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Carmen NISTOR

    2015-04-01

    Full Text Available Although accounts consolidation was used in practice from the early 1900’s its theoretical basis were developed later in concordance with the rise of concepts like “entity” and “group”. The aim of this article is to examine the literature in the accounting field regarding the consolidation theories developed over the years. In order to discuss the different opinions regarding the consolidation theories we used the descriptive approach. As a result we tried to explain how these theories appeared and developed, respectively what consequences have their use in preparing consolidated financial statements. The results of the study suggest that every theory has certain aspects which differentiate it from the others in terms of recognition of subsidiary income and reporting net assets of the subsidiary. However, from all theories analyzed, the entity theory takes into account several guidelines of maximum importance when preparing consolidated financial statements: “You can’t own yourself!”, “You can’t owe yourself money!”, “You can’t make money selling to yourself.”

  19. EUROPEAN HARMONIZATION OF CONSOLIDATED FINANCIAL STATEMENTS REGULATIONS?

    Directory of Open Access Journals (Sweden)

    Cirstea Andreea

    2012-07-01

    Full Text Available The purpose of this paper is to analyze the degree of formal accounting harmonization within the European Union with respect to the EC Regulation No. 1606/2002 adopted by the European Parliament and European Council on the 19th of July 2002, which regulates the application of IAS/IFRS regarding the financial reporting of listed European companies. The conclusions of the paper were drawn after the completion of a thorough analysis performed by using correlation and/ or association coefficients, namely: the Jaccard’s Correlation Coefficients, Rogers and Tanimoto Coefficient, Lance and Williams Coefficient and Binary Euclidian Distance Coefficient. The results lead us to conclude that although our first hypothesis is verified, the degree of harmonization between the accounting systems of EU Member States could be truly quantified only through an analysis of the material accounting harmonization, more precisely by analyzing the way the companies put into practice the requirements imposed through the EC Regulation No. 1606/2002.

  20. Method of Drafting and Assessment of Specific Rules to Consolidated Financial Statements

    OpenAIRE

    Doina Maria Tilea; Alexandra Ana Maria Serban

    2013-01-01

    To draw up the Consolidated Financial Statements it is necessary to aggregate the Patrimonial Statement, the Economic Account Statement and the Budgetary Execution Account Statement of all institutions within the scope of consolidation, so that, the assets and liabilities, the gains and costs, the incomes and the expenses can be represented in this statement.

  1. Reporting and Disclosing Intragovernmental Transactions for the FY 1997 DOD Consolidated Financial Statements.

    Science.gov (United States)

    1998-09-21

    CONSOLIDATED FINANCIAL STATEMENTS Report Number 98-204 September 21, 1998 Office of the Inspector General Department of Defense DTICQUALYI~~3~419990943 034...Disclosing Intragovernmental Transactions for the FY 1997 DoD Consolidated Financial Statements ( Report No. 98-204) We are providing this report for... report . This report is the third in a series of audit reports related to the FY 1997 DoD Consolidated Financial Statements. DoD Directive 7650.3 requires

  2. EDF - 2005 Consolidated Annual Results - Analysts' Presentation. Consolidated financial statements at December 31, 2005

    International Nuclear Information System (INIS)

    2006-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2005 annual results and Consolidated financial statements of the Group at 31 December 2005: Consolidated income statements, consolidated balance sheets, consolidated cash flow statements, variation in consolidated equity, notes (group accounting policies, impact of first-time application of IFRs, transition to standards IAS 32 and 39 concerning financial instruments, summary of accounting and valuation methods, public distribution concessions in France, significant events and transactions of 2005, impact of the law of august 9, 2004 on comparability, changes in the scope of consolidation, segment reporting, sales, fuel and energy purchases, other external expenses, contractual obligations and commitments entered into in the course of business, personnel expenses, other operating income and expenses, other income and expenses, financial result, income taxes, basic earnings per share and diluted earnings per share, goodwill, other intangible assets, property, plant and equipment, investments in companies accounted for under the equity method, financial assets, inventories, including work-in-process, trade receivables, other receivables, cash and cash equivalents, available-for-sale assets and liabilities, equity, provisions, special concession liabilities, current and non-current financial liabilities, derivatives, other liabilities, related parties, greenhouse gas emission quotas, environment, subsequent events, scope of consolidation

  3. 17 CFR 210.3-02 - Consolidated statements of income and changes in financial positions.

    Science.gov (United States)

    2010-04-01

    ... General Instructions As to Financial Statements § 210.3-02 Consolidated statements of income and changes... consolidated and for its predecessors, audited statements of income and cash flows for each of the three fiscal..., and for the corresponding period of the preceding fiscal year, statements of income and cash flows...

  4. Audit of the US Department of Energy`s consolidated financial statements for Fiscal Year 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-24

    The Office of Inspector General audited the Department`s Consolidated Statement of Financial position as of September 30, 1996, and the related Statement of Operations and Changes in Net Position for the year ended. Results are described.

  5. EDF Energies Nouvelles. Consolidated financial statements at 30 June 2009

    International Nuclear Information System (INIS)

    2010-01-01

    EDF Energies Nouvelles is a world leader in renewable energy electricity. The company develops, builds and operates clean energy power plants both for its own account and for third parties. Historically, EDF Energies Nouvelles primarily developed its business in two geographical areas, Europe and North America (U.S., Canada and Mexico). EDF Energies Nouvelles is a subsidiary of EDF, helping the Group to achieve its renewable energy goals. The EDF Group generates low-carbon electricity around the world and actively participates in the energy transition. EDF Energies Nouvelles prioritizes development of wind and photovoltaic solar capacity. As an integrated operator with global reach, EDF Energies Nouvelles covers the entire renewable energy chain, from development to operation and maintenance, and manages all project phases in-house. This document is EDF Energies Nouvelles's registration document for the year 2009. It contains information about Group profile, governance, business, investments, property, plant and equipment, management, financial position, employees, shareholders, etc. The document includes the group's consolidated financial statements at 31 December 2008

  6. Financial Statements Analysis

    OpenAIRE

    Tănase Alin-Eliodor

    2014-01-01

    This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.

  7. Internal Controls and Compliance With Laws and Regulations for the Defense Business Operations Fund Consolidated Financial Statements for FY 1995

    National Research Council Canada - National Science Library

    Lane, Frederick

    1996-01-01

    ... No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993. In addition, we determined whether controls were adequate to ensure that the consolidated financial statements were free of material error...

  8. Similarities and disparities between Romanian individual and consolidated financial group statements

    Directory of Open Access Journals (Sweden)

    Florentin Tanasa

    2012-12-01

    Full Text Available The purpose of this study is to identify, analyse and assess the main connections and implications of consolidated accounts on enterprise economy. Appearance of consolidated financial statements is intrinsically linked to certain concepts, such as group, control, the perimeter of consolidation, percentages of interests, methods of consolidation, or restatements. For a more complete view regarding consolidated annual accounts, it is necessary to delimit and define these particular elements. This approach targets the presentation of our vision over positioning, place and function of financial consolidated statements in the process of the financial report. The study envisages a summary and comparison of ideas found on this subject in thespecialty literature, the regulations developed by various international bodies. Thus, we think it will facilitate the correct positioning of the consolidated financial statements and the consolidated accounts’ concepts. To achieve the proposed desiderates, we have used a constructive methodology for identifying disagreements, approvals and development of a speech to more efficient and effective management of the mentioned concepts.

  9. Internal Controls and Compliance With Laws and Regulations for the Defense Business Operations Fund Consolidated Financial Statements for FY 1995

    National Research Council Canada - National Science Library

    Lane, Frederick

    1996-01-01

    The objective of the audit was to determine whether the Consolidated Statement of Financial Position and selected accounts on the Statement of Operations of the Defense Business Operations Fund for FY...

  10. Reporting of DOD Inventory and Operating Materials and Supplies on the FY 1997 DOD Consolidated Financial Statements.

    Science.gov (United States)

    1998-11-05

    4 ~ or r0 19990908 014i ~i \\ REPORTING OF DOD INVENTORY AND OPERATING MATERIALS AND SUPPLIES ON THE FY 1997 DOD CONSOLIDATED FINANCIAL ...and Supplies on the FY 1997 DoD Consolidated Financial Statements ( Report No. 99-032) We are providing this report for review and comment. This is the...second in a series of reports on the FY 1997 DoD Consolidated Financial Statements. The Under Secretary of Defense (Comptroller) did not respond to

  11. 17 CFR 210.3-09 - Separate financial statements of subsidiaries not consolidated and 50 percent or less owned persons.

    Science.gov (United States)

    2010-04-01

    ... exhibit the financial position, cash flows and results of operations of the combined or consolidated group... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Separate financial statements... FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, PUBLIC UTILITY...

  12. Value Relevance of Consolidated Versus Parent Company Financial Statements: Evidence from the Largest Three European Capital Markets

    OpenAIRE

    Victor-Octavian MULLER

    2011-01-01

    Within the European Union, parent companies have to prepare and publish both consolidated and individual financial statements. The objective of financial statements with general purpose is to give information regarding the financial position, performance and changes in financial position of the reporting entity, information that is useful to investors and other users in making economic decisions. In order to be useful, financial information needs to be relevant to the decision-making process ...

  13. EDF - Annual results 2015. Consolidated financial statements at 31 December 2015. 2015 Management report - Group results

    International Nuclear Information System (INIS)

    Levy, Jean-Bernard

    2016-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2015 annual results, management report and Consolidated financial statements of the Group at 31 December 2015, as well as the 2015 activity report: Group results: Key figures; economic environment; significant events of 2015; subsequent events; analysis of the business and the consolidated income statements for 2014 and 2015; net indebtedness, cash flows and investments; management and control of market risks; transactions with related parties; scope of consolidation; principal risks and uncertainties; financial outlook. consolidated financial statements: group accounting standards; comparability; significant events and transactions; regulatory events in France; changes in the scope of consolidation; segment reporting; sales; fuel and energy purchases; other external expenses; personnel expenses; taxes other than income taxes; other operating income and expenses; impairment/reversals; other income and expenses; financial result; income taxes; basic earnings per share and diluted earnings per share; operating assets and liabilities, equity; goodwill; other intangible assets; property, plant and equipment operated under French public electricity distribution concessions; property, plant and equipment operated under concessions for other activities; property, plant and equipment used in generation and other tangible assets owned by the group; investments in associates and joint ventures; inventories; trade receivables; other receivables; equity; provisions; provisions related to nuclear generation - back-end of the nuclear cycle

  14. EVIDENCE FROM THE GERMAN CAPITAL MARKET REGARDING THE VALUE RELEVANCE OF CONSOLIDATED VERSUS PARENT COMPANY FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Muller Victor - Octavian

    2011-07-01

    Full Text Available Financial statements main objective is to give information on the financial position, performance and changes in financial position of the reporting entity, which is useful to investors and other users in making economic decisions. In order to be useful, financial information needs to be relevant to the decision-making process of users in general, and investors in particular. Hence, the following question arises logically which of the two sets best serves the information needs of investors (and other categories of users, respectively which of the two sets is more relevant for investors? Of course, the possibility of both sets at the same time best serving the information needs should not be ruled out. In our scientific endeavor we conducted an empirical association study on the problem of market value relevance of consolidated financial statements and of individual financial statements of the parent company, searching for an answer to the above question. In this sense, we analyze the absolute and relative market value relevance of consolidated accounting information of listed companies on the Frankfurt Stock Exchange (one of the largest three stock markets in the European Union between 2003 and 2008. Through this empirical study we intend to contribute to the relatively limited literature on this topic with a comparative time analysis of the absolute and incremental relevance of financial information supplied by the two categories of financial statements (group and individual. The results obtained indicate a statistically significant superiority of the relevance of consolidated statements (in detriment of individual ones. However, we could not statistically prove a superior value relevance of information provided together by consolidated and parent company financial statements as opposed to consolidated information. On the one hand, these results prove the importance (usefulness of consolidated financial statements especially for investors on

  15. Problematic Issues of Segmentation in the Formation of Consolidated Financial Statements by the Participants of Joint Ventures

    Directory of Open Access Journals (Sweden)

    Alla V. Dmitrenko

    2014-03-01

    Full Text Available The paper studies the topical issue of segmentation of consolidated financial statements. The author proposes to make a report on the assets, liabilities, income, expenses and financial results that are directly related to report segment or allocated to the report segment.

  16. Consolidating Financial Statements of the Foreign Military Sales Trust Fund - FY 1992

    National Research Council Canada - National Science Library

    1993-01-01

    The primary objective of the audit was to determine whether the FMS Trust Fund Consolidating Statements for FY 1992 were presented fairly in accordance with generally accepted accounting principles for Federal entities...

  17. Compilation Process for the DOD Consolidated Financial Statements for FY 1997

    National Research Council Canada - National Science Library

    1998-01-01

    ... statements beginning in FY 1997. Office of Management and Budget and DoD Guidance on Form and Content of Audited Financial Statements requires that amounts reported in the footnotes be consistent with amounts reported as line items...

  18. Major Deficiencies in the Compilation and Consolidation of the Financial Statements for Other Defense Organizations

    National Research Council Canada - National Science Library

    Steensma, David

    1998-01-01

    We are providing this report for your information and use. It identifies and summarizes the major deficiencies that contribute to the Other Defense Organizations financial statements being unreliable...

  19. EDF Energies Nouvelles. Consolidated financial statements at 31 December 2008 Prepared in accordance with IFRSs

    International Nuclear Information System (INIS)

    2009-01-01

    EDF Energies Nouvelles is a world leader in renewable energy electricity. The company develops, builds and operates clean energy power plants both for its own account and for third parties. Historically, EDF Energies Nouvelles primarily developed its business in two geographical areas, Europe and North America (U.S., Canada and Mexico). EDF Energies Nouvelles is a subsidiary of EDF, helping the Group to achieve its renewable energy goals. The EDF Group generates low-carbon electricity around the world and actively participates in the energy transition. EDF Energies Nouvelles prioritizes development of wind and photovoltaic solar capacity. As an integrated operator with global reach, EDF Energies Nouvelles covers the entire renewable energy chain, from development to operation and maintenance, and manages all project phases in-house. This document is EDF Energies Nouvelles's registration document for the year 2008. It contains information about Group profile, governance, business, investments, property, plant and equipment, management, financial position, employees, shareholders, etc. The document includes the group's consolidated financial statements at 31 December 2008

  20. EDF Energies Nouvelles. Consolidated financial statements at 31 December 2007 Prepared in accordance with IFRSs

    International Nuclear Information System (INIS)

    2008-01-01

    EDF Energies Nouvelles is a world leader in renewable energy electricity. The company develops, builds and operates clean energy power plants both for its own account and for third parties. Historically, EDF Energies Nouvelles primarily developed its business in two geographical areas, Europe and North America (U.S., Canada and Mexico). EDF Energies Nouvelles is a subsidiary of EDF, helping the Group to achieve its renewable energy goals. The EDF Group generates low-carbon electricity around the world and actively participates in the energy transition. EDF Energies Nouvelles prioritizes development of wind and photovoltaic solar capacity. As an integrated operator with global reach, EDF Energies Nouvelles covers the entire renewable energy chain, from development to operation and maintenance, and manages all project phases in-house. This document is EDF Energies Nouvelles's registration document for the year 2007. It contains information about Group profile, governance, business, investments, property, plant and equipment, management, financial position, employees, shareholders, etc. The document includes the group's consolidated financial statements at 31 December 2007

  1. EDF Energies Nouvelles. Consolidated financial statements at 31 December 2006 Prepared in accordance with IFRSs

    International Nuclear Information System (INIS)

    2007-01-01

    EDF Energies Nouvelles is a world leader in renewable energy electricity. The company develops, builds and operates clean energy power plants both for its own account and for third parties. Historically, EDF Energies Nouvelles primarily developed its business in two geographical areas, Europe and North America (U.S., Canada and Mexico). EDF Energies Nouvelles is a subsidiary of EDF, helping the Group to achieve its renewable energy goals. The EDF Group generates low-carbon electricity around the world and actively participates in the energy transition. EDF Energies Nouvelles prioritizes development of wind and photovoltaic solar capacity. As an integrated operator with global reach, EDF Energies Nouvelles covers the entire renewable energy chain, from development to operation and maintenance, and manages all project phases in-house. This document is EDF Energies Nouvelles's registration document for the year 2006. It contains information about Group profile, governance, business, investments, property, plant and equipment, management, financial position, employees, shareholders, etc. The document includes the group's Consolidated financial statements at 31 December 2006

  2. financial statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    This Management's Discussion and Analysis (MD&A) provides a narrative discussion of the financial results and operational changes for the financial year ended on. 31 March 2015. This discussion should be read with the. Financial Statements and accompanying notes provided on pages 46-63, which were prepared in ...

  3. Defense Business Operations Fund Consolidated Statement of Financial Position for FY 1994

    National Research Council Canada - National Science Library

    Rau, Russell

    1995-01-01

    The objective of the audit was to determine whether the Statement of Financial Position of the Defense Business Operations Fund for FY 1994 was fairly presented in accordance with Office of Management...

  4. Internal Controls and Compliance With Laws and Regulations for Expense Account Line Items on the FY 1996 Defense Business Operations Fund Consolidated Financial Statements

    National Research Council Canada - National Science Library

    1998-01-01

    .... The primary audit objective was to determine whether the expenses on the FY 1996 DBOF consolidated financial statements were presented fairly in accordance with Office of Management and Budget Bulletin...

  5. INNOVATIVE METHODS TO EVALUATE THE RELIABILITY OF INFORMATION CONSOLIDATED FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Irina P. Kurochkina

    2014-01-01

    Full Text Available The article explores the possibility of using foreign innovative methods to assess the reliabilityof information consolidated fi nancial statements of Russian companies. Recommendations aremade under their adaptation and applicationinto commercial organizations. Banish methodindicators are implemented in one of the world’s largest vertically integrated steel and miningcompanies. Audit firms are proposed to usemethods of assessing the reliability of information in the practical application of ISA.

  6. 17 CFR 210.3A-02 - Consolidated financial statements of the registrant and its subsidiaries.

    Science.gov (United States)

    2010-04-01

    ... accounting, or valuation allowances in order to achieve a fair presentation. In any case, the disclosures... consider what financial presentation is most meaningful in the circumstances and should follow in the... are more meaningful than separate statements and that they are usually necessary for a fair...

  7. Audit of the US Department of Energy`s consolidated statement of financial position as of September 30, 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-02-29

    In preparation for fulfilling our responsibilities under the Government Management Reform Act of 1994, we planned to conduct an audit of the Department of Energy`s FY 1995 Consolidated Statement of Financial Position. As discussed in the accompanying reports, the Office of Inspector General (OIG) could not express an opinion on the reasonableness of the value of assets and liabilities of the Department because of matters outside the control of the auditors that restricted the scope of their work. Although the OIG could not express an opinion, the audit disclosed reportable conditions in the Department`s internal control structure that adversely affected its ability to manage and account for its assets and liabilities. Corrective management actions on these reportable conditions should help the Department in preparing its Fiscal Year (FY) 1996 Statement of Financial Position.

  8. 17 CFR 210.3A-03 - Statement as to principles of consolidation or combination followed.

    Science.gov (United States)

    2010-04-01

    ... Consolidated and Combined Financial Statements § 210.3A-03 Statement as to principles of consolidation or... of (1) subsidiaries in consolidated or combined financial statements and (2) companies in consolidated or combined financial statements, shall be stated in the notes to the respective financial...

  9. Impacts of the elimination of the proportionate consolidation on Itaúsa financial statements

    Directory of Open Access Journals (Sweden)

    Raquel Wille Sarquis

    2018-02-01

    Full Text Available ABSTRACT This research aims to evaluate the impacts of the elimination of the proportionate consolidation method to recognize joint ventures investments, with the adoption of the Technical Pronouncement CPC 19 (R2, on the accounting amounts reported by Itaúsa - Investimentos Itaú S.A., and identify which accounting adjustments are necessary to explain the differences in reported amounts. Until December 31, 2012, there were two methods to recognize these investments: proportionate consolidation and equity method. The adoption of CPC 19 (R2, from January 1, 2013, brought relevant changes and the elimination of the proportionate consolidation method was the most controversial one. There are many users and researchers that argue that this method provides more relevant information. The effects of this change, with significant impacts on the amounts reported by the joint venturer firm, were even more relevant in Brazil, since almost all Brazilian firms used the proportionate consolidation. It was chosen the case of Itaúsa and, consequently, of Itaú Unibanco Holding because this is the largest private group in Brazil and represents a relevant investment for its joint venturers. The analyses indicated that the total asset reported by Itaúsa using proportionate consolidation was 832% higher than the value reported by the equity method. For liabilities and revenues, this percentage was even higher: 5,096% and 17,771%, respectively. This impact affects financial indicators, industry rankings, and other financial analyses. For example, the debt indicator decreased from 91% to 16%, when the accounting method was changed to the equity method. The analyses also indicated a set of accounting adjustments that explain the differences in the accounting amounts reported by Itaúsa, and these adjustments are beyond the recognition of the proportionate amounts of joint ventures, including goodwill, unrealized intercompany results, among others. The main

  10. IFRS COMPLIANCE REGARDING INFORMATION DISCLOSED BY COMPANIES IN CONSOLIDATED FINANCIAL STATEMENTS - CASE STUDY ON IAS 23 BORROWING COSTS APPLICABILITY-

    Directory of Open Access Journals (Sweden)

    Dragu Ioana - Maria

    2011-07-01

    Full Text Available This paper concentrates on information disclosure regarding IAS 23, being included in accounting research field. It comprises an empirical study on the correlation between information published by companies in consolidated financial statements with respect to borrowing cost policies and a series of variables that characterize a firm. The objectives of this paper involve estimating and establishing an econometric model in which is assumed that disclosure index for information required by IAS 23 depends on certain elements in the form of country of origin, sales, total assets, debt ratio, ROA and ROE. International accounting literature presents a series of studies on the subject of compliance with IAS disclosure requirements. Similar with this paper, various authors considered annual reports as starting point for data gathering in their reasearch on disclosure phenomena. The criteria used for data gathering, processing and analysing have been previously used in a successful manner by important scientists who published in accounting field. The methodology used involves Disclosure Index computation, as well as SPSS data processing, analysis and interpretation of results. Results show that the model is valid, meaning that there is correlation between information disclosure with respect to IAS 23 and the analyzed variables. According to our estimated econometric model, most of the variables maintain a certain influence on disclosure as we can observe a significant correlation level between the studied elements. This research contributes to the development of both accounting field and international accounting literature, by studying borrowing costs disclosed information in relation to certain elements that best characterize the activity of a company. Although an empirical paper, it concentrates also on accounting practices, as it uses real data extracted from annual reports and consolidated financial statements. The importance of this research relies

  11. Report: Audit of EPA’s Fiscal 2012 and 2011 Consolidated Financial Statements

    Science.gov (United States)

    Report #13-1-0054, November 15, 2012. In Oct 2011, EPA replaced the Integrated Financial Management System with a new system, Compass Financials (Compass), and we determined that Compass reporting and system limitations represented a material weakness.

  12. Office of Inspector General audit report on the U.S. Department of Energy`s consolidated financial statements for fiscal year 1998

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1999-02-01

    The Department prepared the Fiscal Year 1998 Accountability Report to combine critical financial and program performance information in a single report. The Department`s consolidated financial statements and the related audit reports are included as major components of the Accountability Report. The Office of Inspector General audited the Department`s consolidated financial statements as of and for the years ended September 30, 1998 and 1997. In the opinion of the Office of Inspector General, except for the environmental liabilities lines items in Fiscal year 1998, these financial statements present fairly, in all material respects, the financial position of the Department as of September 30, 1998 and 1997, and its consolidated net cost, changes in net position, budgetary resources, financing activities, and custodial activities for the years then ended in conformity with Federal accounting standards. In accordance with Government Auditing Standards, the Office of Inspector General issued a separate report on the Department internal controls. This report discusses needed improvements to the environmental liabilities estimating process and the reporting of performance measure information.

  13. Rio 2016 financial statements

    OpenAIRE

    2015-01-01

    These documents include the report from independent auditors balance sheet, the statement of income, the statement of changes in equity, the statement of cash flows and the explanatory notes to the financial statements.

  14. CONSOLIDATED FINANCIAL STATEMENTS – A NEW REPORTING PRACTICE IN THE PUBLIC SECTOR

    OpenAIRE

    Andreea CÎRSTEA; Stefan-Dragos CÎRSTEA

    2015-01-01

    The reforms that have lately influenced the public sector determined several changes in the reporting system, causing the introduction of a new reporting practice in the public sector, namely the consolidated reports. These reports come to bring added value to the accounting and reporting system, but this practice is at the beginning and requires time in order to be taken over at international level. This paper aims to be a theoretical one, with slight empirical traces, analysing the introduc...

  15. EDF - 2013 full-year results up, driven by good operating and financial performance; Strengthened financial structure; 2014-2018 vision. Annual results 2013. 2013 Consolidated financial statements. Management report 2013

    International Nuclear Information System (INIS)

    Proglio, Henri

    2014-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2013 annual results, management report and Consolidated financial statements of the Group at 31 December 2013: Group EBITDA: euro 16.8 bn, +5.5% in organic growth; Strong growth in low-carbon energies: Hydro and other renewable output in France: +22.5% vs. 2012, Highest hydro output in over 10 years in France, Highest nuclear output in past 8 years in the United Kingdom and stable output in France; Net income - Group share: euro 3,517 m, +7.4%; Net income excluding non-recurring items: euro 4,117 m vs. euro 4,175 m in 2012; Spark: euro 1.3 bn in cost savings at end-December; initial target: euro 1 bn; Net financial debt/EBITDA: 2.1x vs. 2.4x2 at 31 December 2012; Proposed cash dividend for 2013: euro 1.25/share, a pay-out ratio of 56.5%, within the range of 55% to 65% of net income excluding non-recurring items. Financial targets for 2014: Group EBITDA excluding Edison: organic growth of at least 3%; Edison EBITDA: expectation for recurring EBITDA of euro 1 bn and at least euro 600 m in 2014 before effects of gas contract re-negotiations; Net financial debt/EBITDA: between 2x and 2.5x; Pay-out ratio of net income excluding non-recurring items post hybrid: 55% to 65%. 2014-2018 vision: Cash-flow after dividends: positive in 2018. Consolidated financial statements: 1 - Historical financial information: Consolidated income statements, Statements of net income and gains and losses recorded directly in equity, Consolidated balance sheets, Consolidated cash flow statements, Changes in consolidated equity, Notes to the consolidated

  16. Assessment of business subsidiary operations and consolidated financial statements through a common global accounting language, IFRS vs. GAAP

    Directory of Open Access Journals (Sweden)

    Paul J. Lee

    2015-08-01

    Full Text Available The focus of this paper is to provide a comprehensive overview of financial accounting as it relates to business combinations.  Additionally, comparisons have been made with regard to International Financial Reporting Standards (IFRS and United States Generally Accepted Accounting Principles (US GAAP.  Inclination for the research is based upon the study of IFRS and US GAAP separately at the collegiate level, having a solid understanding of full consolidation under US GAAP, and the desire to learn more about full consolidation under IFRS.   Due to convergence of IFRS with US GAAP on many levels of accounting practices, the overview of full consolidation and logic behind such convergences proves significant in determining usefulness and impact of provided financial data.

  17. Compilation of the FY 1997 Financial Statements for Other Defense Organizations

    National Research Council Canada - National Science Library

    1998-01-01

    ... statements to the Office of Management and Budget. The DoD Consolidating Financial Statements for FY 1997 included financial statements for a reporting entity called "Other Defense Organizations" that represents a consolidation of financial...

  18. Financial statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    systems not supporting strategic objectives and ...... Management maintains books of accounts, information systems, and financial and management controls that are designed to provide ..... Monetary assets and liabilities denominated in foreign currencies are translated into Canadian dollars at the exchange rate in effect.

  19. RTE - Activity and sustainable development report 2014. Management report consolidated financial statements 2014

    International Nuclear Information System (INIS)

    2015-01-01

    After an interview of RTE's CEO, an overview of governance issues within the company, and a presentation of its business model, the activity report addresses the various aspects of RTE activities during 2014: grid expertise, a fair and balanced service, performance at the right price, cooperation between all players, a long term commitment, and perspectives. It also focuses on the corporate aspects: collective intelligence, workforce involvement, safety culture. The management report contains financial and legal information (significant events of 2014, economic environment, business and results, financing, financial structure, outlook for 2015, risk analysis), company information (employment, work organisation, labour relations, health and safety, training, diversity and equal opportunities, compliance with International Labour Organisation conventions), environmental information (general environmental policy, pollution and waste management, sustainable use of resources, climate change, protection and development of biodiversity), and societal information (local, economic and social impact of RTE's business, relations with people and organisations concerned by RTE's business, out-sourcing and suppliers, fair practices, other action to promote human rights). The third report presents the supervisory board (members and missions, operation, committees), the Executive Board (members and remuneration principles), the operation of general assemblies. It describes the internal control of RTE (organisation, actors), presents the policy of risk management and control, activities of audit and control within RTE. It finally presents external controls made by different public bodies

  20. Financial Management: U.S. Army Corps of Engineers Financial Information Imported Into the Defense Departmental Reporting System - Audited Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W

    2004-01-01

    .... The USACE Civil Works principal financial statements consist of a consolidated balance sheet, a consolidated statement of net cost, a consolidated statement of changes ill net position, a combined...

  1. EDF - Full-year results up in 2014, Solid performance in low-carbon energies, 2018 ambition reiterated. Annual results 2014. Consolidated financial statements 2014. Management report 2014 - Group results. Annual financial statements 2014

    International Nuclear Information System (INIS)

    Levy, Jean-Bernard

    2015-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2014 annual results, management report and Consolidated financial statements of the Group at 31 December 2014, as well as the 2014 activity report: Group EBITDA: euro 17.3 bn, +6.5% organic growth, +3.2% excluding Edison and the tariff catch-up. A record-setting performance by low-carbon energies: French nuclear output: 415.9 TWh, the second best performance of the last six years; French CO 2 emissions: 17 g/kWh, an all-time low; Renewable energy capacity under construction: 2.2 GW, an all-time high. Net income excluding non-recurring items: euro 4,852 m, +17.9%; Net income - Group share: euro 3,701 m, +5.2%; Net financial debt/EBITDA: 2.0x vs. 2.1x at 31 December 2013; Dividend proposed for 2014: euro 1.25 per share in cash, equivalent to a 52% pay-out ratio and 58% when excluding the tariff catch-up. Financial guidance for 2015: Group EBITDA: organic growth of 0 to 3%; Net financial debt/EBITDA: between 2x and 2.5x; Pay-out ratio of net income excluding non-recurring items post hybrid: 55% to 65%. 2018 ambition: Enhanced action plan on cash flow generation levers: EBITDA growth, CSPE balance, WCR action plan, control of net investments; Cash flow after dividends: positive in 2018. EDF's financial statements: Income statements; Balance sheets; Cash flow statements; Notes to the financial statements: Accounting principles and methods, Significant events and transactions, Regulatory events in 2014 with an impact on the financial statements, Sales, Operating subsidies, Reversals of provisions and depreciation, Other

  2. 1999 Auditor's report and financial statements

    International Nuclear Information System (INIS)

    2000-02-01

    This report contains the audited consolidated financial reports for the Churchill Falls (Labrador) Corporation Limited and those for the Twin Falls Power Corporation Limited, together with the appropriate notes to the consolidated financial statements and summaries of significant accounting policies as they apply to the data provided in this report

  3. Data Supporting the DOD Environmental Line Item Liability on the FY 1998 Financial Statements

    National Research Council Canada - National Science Library

    1999-01-01

    ... consolidated financial statements. This audit supports our audit of the FY 1998 DoD Agency wide financial statements and future audits of financial statements that are required by the Chief Financial Officers Act of 1990, as amended...

  4. EDF - 2011 full-year results: Solid results and commitments upheld amid a troubled environment. Excellent industrial performance. Annual results 2011, Consolidated financial statements at December 31, 2011

    International Nuclear Information System (INIS)

    Proglio, Henri

    2012-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2011 annual results and Consolidated financial statements of the Group at 31 December 2011: Group accounting standards; comparability; significant events and transactions; regulatory events in France; changes in the scope of consolidation; segment reporting; sales; fuel and energy purchases; other external expenses; personnel expenses; taxes other than income taxes; other operating income and expenses; prolongation of the transition tariff system (TaRTAM) - laws of June 7 and December 7, 2010; impairment / reversals; other income and expenses; financial result; income taxes; basic earnings per share and diluted earnings per share; operating assets and liabilities, equity; goodwill; other intangible assets; property, plant and equipment operated under French public electricity distribution concessions; property, plant and equipment operated under concessions for other activities; property, plant and equipment used in generation and other tangible assets owned by the group; investments in associates; inventories; trade receivables; other receivables; equity; provisions; provisions related to nuclear generation - back-end nuclear cycle, plant decommissioning and last cores; provisions for decommissioning of non-nuclear facilities; provisions for employee benefits; other provisions; special French public electricity distribution concession liabilities for existing assets and assets to be replaced; trade payable; other liabilities; current and non-current financial assets; cash and cash equivalents; current and non

  5. Internal Controls and Compliance with Laws and Regulations for the FY 1997 Financial Statements of Other Defense Organizations

    National Research Council Canada - National Science Library

    1998-01-01

    ... consolidated financial statements for FY 1996 and each succeeding year. The DoD Consolidated Financial Statements for FY 1997 include financial statements for a reporting entity entitled "Other Defense Organizations...

  6. Financial Statement Math

    OpenAIRE

    2007-01-01

    game tool Game Tool Interactive Media Element The purpose of this interactive exercise is to help you understand the math in the income statement and balance sheet., Give the proper mathematical computations in order to correctly prepare the income statement and the balance sheet.The exercise is divided into 3 parts: The income Statement, The Balance Sheet - Assets, The Balance Sheet - Liabilities, GB3050 Financial Reporting and Analysis

  7. Fundamentals of Financial Statements Audit

    OpenAIRE

    World Bank

    2011-01-01

    The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. The objective of an audit of financial statements is to enable an auditor to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards or another identified financial reporting fr...

  8. Rio 2016 financial statements 2011

    OpenAIRE

    2015-01-01

    This document includes the report from independent auditors, the balance sheet, the statement of income, the statement of changes in equity, the statement of cash flows and the explanatory notes to the financial statements as of December 2011.

  9. Compilation of the FY 1996 Financial Statements for Other Defense Organizations

    National Research Council Canada - National Science Library

    1998-01-01

    ... statements to the Office of Management and Budget. The DoD consolidated financial statements for FY 1996 included financial statements for a new reporting entity entitled "Other Defense Organizations...

  10. Corporate Information Management Financial Statements

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1995-01-01

    The audit objective was to determine whether the OASD(C31) methods for preparing FY 1996 CIM, general purpose financial statements will result in auditable and complete general purpose financial statements...

  11. Translation of Financial Statements

    OpenAIRE

    Dalthan Simas; Otavio De Medeiros

    2005-01-01

    This paper has the purpose of surveying and critically analyzing the effects of accounting procedures which are closely related to groups of companies operating multinationally. These are the methods for translation of financial statements, e.g. the Temporal and the Closing- rate Methods, as far as those methods are embodied in accounting standards which have been either recommended or adopted by countries such as the UK and US. We conclude that with regard to changing prices, General Price L...

  12. Consolidated Financial Report on the National Guard and Reserve Equipment Appropriation for the Army Reserve

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1996-01-01

    ...) and the Federal Financial Management Act of 1994 (Public Law 103-356). Public Law 103-356 requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year...

  13. Consolidated FY 1995 Financial Report on Defense Organizations Receiving Department 97 Appropriations

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1996-01-01

    ...) and the Federal Financial Management Act of 1994 (Public Law 103-356). Public Law 103-356 requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year...

  14. Organization of the Statutory Audit of Financial Statements in Romania

    Directory of Open Access Journals (Sweden)

    Gabriela Ungureanu

    2010-12-01

    Full Text Available Economic entities around the world, regardless of their membership - public or private sector - the size, the object of activity, prepare financial statements for presentation of financial information users (investors, creditors, customers, suppliers, public institutions. The financial statements provide information about financial position, performance and changes in financial position of an entity - information underlying to base decision process. For Romania, the financial audit was not a tradition. Recognized as a top area of the accounting profession, financial audit was legislated in 1999. Statutory audit, audit of annual financial statements or consolidated annual statements have been established 9 years later (Emergency Regulation no. 90 June 24, 2008, by transposing Directive 2006/43/EC of 17 May 2006 of the European Parliament and of Council on statutory audit of annual accounts and consolidated accounts, in order to ensure oversight of auditors, in the public interest.

  15. Explaining the consolidation of financial statementsin the Swiss Federal Government

    OpenAIRE

    Argento, Daniela; Grossi, Giuseppe; Vollenweider, Petra

    2012-01-01

    The growing development of decentralized entities has highlighted the limitations f the traditional annual reports of governments, which do not necessarily capture he financial consequences of subsidiaries, joint ventures and associates. There s a growing tendency to consider consolidated financial statements as essential o support decision-making processes and to ensure higher public accountability. his paper seeks to understand and to explain how the Swiss Federal Government as prepared its...

  16. EDF Energy Holdings Limited, Registered Number 06930266, Annual report and financial statements 31 December 2015

    International Nuclear Information System (INIS)

    2016-01-01

    EDF Energy Holdings Limited and subsidiaries make up EDF Energy. The companies' principal activities are to provide and supply electricity and gas to commercial, residential and industrial customers, and to generate electricity through a portfolio of generation assets including nuclear, coal fired, gas and renewable generation. EDF Energy is also involved in the construction of new build nuclear assets. This document is the annual report and financial statements of the company for the year 2015. Contents: 1 - Strategic report; 2 - Directors' report; 3 - Directors' responsibility statement; 4 - Independent Auditor's report; 5 - Consolidated income statement; 6 - Consolidated statement of comprehensive income; 7 - Consolidated balance sheet; 8 - Consolidated cash flow statement; 9 - Consolidated statement of changes in equity 10 - Notes to the consolidated financial statements; 11 - Company balance sheet; 12 - Company statement of changes in equity; 13 - Notes to the Company financial statements

  17. EDF Energy Holdings Limited, Registered Number 06930266, Annual report and financial statements 31 December 2016

    International Nuclear Information System (INIS)

    2017-01-01

    EDF Energy Holdings Limited and subsidiaries make up EDF Energy. The companies' principal activities are to provide and supply electricity and gas to commercial, residential and industrial customers, and to generate electricity through a portfolio of generation assets including nuclear, coal fired, gas and renewable generation. EDF Energy is also involved in the construction of new build nuclear assets. This document is the annual report and financial statements of the company for the year 2016. Contents: 1 - Strategic report; 2 - Directors' report; 3 - Directors' responsibility statement; 4 - Independent Auditor's report to the Members of EDF Energy Holdings Limited; 5 - Consolidated income statement; 6 - Consolidated statement of comprehensive income; 7 - Consolidated balance sheet; 8 - Consolidated cash flow statement; 9 - Consolidated statement of changes in equity 10 - Notes to the consolidated financial statements; 11 - Company balance sheet; 12 - Company statement of changes in equity; 13 - Notes to the Company financial statements

  18. Appropriated Capital Used in the FY 1995 Defense Business Operations Fund Financial Statements

    National Research Council Canada - National Science Library

    Lane, F

    1997-01-01

    .... 1996 Defense Business Operations Fund consolidated financial statements were presented fairly in accordance with the "other comprehensive basis of accounting" described in Office of Management and Budget Bulletin...

  19. EDF Energy Holdings Limited, Registered Number 06930266, Annual report and financial statements 31 December 2014

    International Nuclear Information System (INIS)

    2015-01-01

    EDF Energy Holdings Limited and subsidiaries make up EDF Energy. The companies' principal activities are to provide and supply electricity and gas to commercial, residential and industrial customers, and to generate electricity through a portfolio of generation assets including nuclear, coal fired, gas and renewable generation. EDF Energy is also involved in the construction of new build nuclear assets. This document is the annual report and financial statements of the company for the year 2014. Contents: 1 - Strategic report; 2 - Directors' report; 3 - Directors' responsibility statement; 4 - Independent Auditor's report; 5 - Consolidated income statement; 6 - Consolidated statement of comprehensive income; 7 - Consolidated balance sheet; 8 - Consolidated cash flow statement; 9 - Consolidated statement of changes in equity 10 - Notes to the consolidated financial statements; 11 - Company balance sheet; 12 - Notes to the Company financial statements

  20. EDF Energy Holdings Limited, Registered Number 06930266, Annual report and financial statements 31 December 2013

    International Nuclear Information System (INIS)

    2014-01-01

    EDF Energy Holdings Limited and subsidiaries make up EDF Energy. The companies' principal activities are to provide and supply electricity and gas to commercial, residential and industrial customers, and to generate electricity through a portfolio of generation assets including nuclear, coal fired, gas and renewable generation. EDF Energy is also involved in the construction of new build nuclear assets. This document is the annual report and financial statements of the company for the year 2013. Contents: 1 - Strategic report; 2 - Directors' report; 3 - Directors' responsibility statement; 4 - Independent Auditor's report; 5 - Consolidated income statement; 6 - Consolidated statement of comprehensive income; 7 - Consolidated balance sheet; 8 - Consolidated cash flow statement; 9 - Consolidated statement of changes in equity 10 - Notes to the consolidated financial statements; 11 - Company balance sheet; 12 - Notes to the Company financial statements

  1. 29 CFR 99.310 - Financial statements.

    Science.gov (United States)

    2010-07-01

    ....310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements that reflect its financial position, results of operations or changes in net assets, and, where... 29 Labor 1 2010-07-01 2010-07-01 true Financial statements. 99.310 Section 99.310 Labor Office of...

  2. Evaluation consolidated under Financial Group Banca Transilvania

    Directory of Open Access Journals (Sweden)

    Chebac Neculina

    2009-06-01

    Full Text Available One of the components of prudence measures adopted by the competentauthorities with the regulation and supervision of financial markets at national andEuropean level is mandatory consolidation of accounts. Romania as member of theEuropean Union it harmonized national regulations with the European consolidation ofaccounts of companies. For the banks have been issued by the appropriate rules by theregulators authority, concerned by National Bank of Romania. In accordance withnational regulations, companies are required to prepare annual consolidated financialstatements may make such situations according to the regulations or accounting inaccordance with Directive VII of the European Economic Community, underInternational Financial Reporting Standards.

  3. 7 CFR 1212.51 - Financial statements.

    Science.gov (United States)

    2010-01-01

    ... statements. (a) The Board shall prepare and submit financial statements to the Department on a periodic basis. Each such financial statement shall include, but not be limited to, a balance sheet, income statement... 7 Agriculture 10 2010-01-01 2010-01-01 false Financial statements. 1212.51 Section 1212.51...

  4. Compilation of the FY 1996 Army Financial Statements at the Defense Finance and Accounting Service Indianapolis Center

    National Research Council Canada - National Science Library

    Lane, F

    1998-01-01

    ... Consolidated Financial Statements of the Army General Fund. We evaluated the processes, including internal controls and methods that the DFAS Indianapolis Center used to compile the Army FY 1996 General Fund financial statements...

  5. Compilation of the FY 1999 Department of the Navy Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    2000-01-01

    ...) Cleveland Center consistently and accurately compiled and consolidated financial data received from Navy field organizations and other sources to prepare the FY 1999 Navy Working Capital Fund financial statements...

  6. Defense Finance and Accounting Service Work on the Navy General Fund 1996 Financial Statements

    National Research Council Canada - National Science Library

    1998-01-01

    ... for the Marine Corps, and on the Defense Finance and Accounting Service Cleveland Center, which consolidated the financial information for Navy and Marine Corps and compiled the financial statements...

  7. Accounting Principles and Financial Statements.

    Science.gov (United States)

    Robinson, Daniel D.

    1973-01-01

    This document presents the background and analysis of the American Institute of Certified Public Accountants (AICPA) guide to auditing colleges and universities. Highlights include the approval of the market value option, the treatment of endowment gains, debt services as transfers, the decisions on pledges, the use of financial statements, the…

  8. COMPARATIVE FINANCIAL STATEMENTS. CONVERGENCE VERSUS DIVERGENCE

    Directory of Open Access Journals (Sweden)

    Nicolae ECOBICI

    2010-09-01

    Full Text Available In this paper I compared the Romanian financial statements with the US GAAP financial statements in terms of two criteria: first the reference period and secondly the shape, structure and content of financial statements. Nowadays the two accounting systems, the French and Anglo-Saxon, tend to harmonize. I will present the convergences and the divergences between the financial statements of Romania, subject to OMFP 3055/2009, in parallel with the Anglo-Saxon accounting system.

  9. EDF - 2004 annual results, Financial statements 2004

    International Nuclear Information System (INIS)

    Gadonneix, Pierre; Camus, Daniel

    2005-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2004 annual results of the Group (key figures, financial results, strategy and perspectives) as well as its Consolidated financial statements at 31 December 2004: 1. Accounting principles and methods; 2. French law of 9 August 2004 on the Public Electricity and Gas Services and Electricity and Gas Companies; 3. Significant events of 2004; 4. Changes in the scope of consolidation; 5. Information by business segment and geographical area; 6. Sales; 7. Purchases and other external expenses; 8. Average workforce; 9. Other operating income and expenses; 10. Net (increase) decrease in provisions; 11. Interest expenses; 12. Foreign exchange result; 13. Other financial income and expenses; 14. Income taxes

  10. Financial Statement Fraud Detection using Text Mining

    OpenAIRE

    Rajan Gupta; Nasib Singh Gill

    2013-01-01

    Data mining techniques have been used enormously by the researchers’ community in detecting financial statement fraud. Most of the research in this direction has used the numbers (quantitative information) i.e. financial ratios present in the financial statements for detecting fraud. There is very little or no research on the analysis of text such as auditor’s comments or notes present in published reports. In this study we propose a text mining approach for detecting financial statement frau...

  11. Inspector General, DOD, Oversight of the Air Force Audit Agency Audit of the FY 1999 Air Force General Fund Financial Statements

    National Research Council Canada - National Science Library

    Lane, F

    2000-01-01

    ..., "Opinion on Fiscal Year 1999 Air Force Consolidated Financial Statements." Our objective was to determine the accuracy and completeness of the Air Force Audit Agency audit of the FY 1999 Air Force General Fund financial statements...

  12. Defense Departmental Reporting Systems - Audited Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul

    2001-01-01

    .... The Chief Financial Officers Act requires the Inspector General, DoD, to audit the financial statements of DoD organizations in accordance with generally accepted Government auditing standards...

  13. Objectives of Financial Statements. Report of the Study Group on the Objectives of Financial Statements.

    Science.gov (United States)

    American Inst. of Certified Public Accountants, New York, NY.

    This report discusses the objectives of financial statements. Emphasis is placed on the function of objectives; users, their goals, and their information needs; the primary enterprise goal and earning power; accountability and financial statements; financial statements--reporting on the goal attainment of business enterprises; financial…

  14. 7 CFR 4279.137 - Financial statements.

    Science.gov (United States)

    2010-01-01

    ... accordance with Generally Accepted Accounting Principles will be required. (b) If specific circumstances... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial statements. 4279.137 Section 4279.137... § 4279.137 Financial statements. (a) The lender will determine the type and frequency of submission of...

  15. DISCLOSURE PRACTICES CONCERNING CONSOLIDATED FINANCIAL STATEMENS OF ROMANIANS GROUPS OF ENTITES

    Directory of Open Access Journals (Sweden)

    TIRON TUDOR ADRIANA

    2010-07-01

    Full Text Available The main object of this paper is to examine accounting harmonization in a sample of companies with regard to the presentation of consolidated financial statements. The results of the study indicate that listed firms tend to comply with IFRS requirements

  16. RTE - Business and sustainable development report 2015. Management report consolidated financial statements 2015. Report by the chairman of the supervisory board 2015

    International Nuclear Information System (INIS)

    2016-01-01

    After an introduction by the RTE's CEO, brief presentations of governance bodies (management board, executive committee, supervisory board), and a presentation of some statistics illustrating RTE activities and efficiency, the activity report addresses and illustrates some specific issues: moving for local to European scale by promoting electrical solidarity among the regions, climate solutions in support of sustainable, economical and efficient power system, experts solutions for tomorrow's electricity. The management report contains financial and legal information (significant events of 2015, economic environment, business and results, financing, financial structure, outlook for 2016, risk analysis), company information (employment, work organisation, labour relations, health and safety, training, diversity and equal opportunities, compliance with International Labour Organisation conventions), environmental information (general environmental policy, pollution and waste management, sustainable use of resources, climate change, protection and development of biodiversity), and societal information (local, economic and social impact of RTE's business, relations with people and organisations concerned by RTE's business, out-sourcing and suppliers, fair practices, other action to promote human rights). The third report presents the governance organisation of RTE (supervisory board, executive board, principles of remuneration of supervisory board and executive board members, general meetings, information publication). It describes the internal control at RTE (organisation, actors), presents the policy of risk management and control, activities of audit and control within RTE. It finally presents external controls made by different public bodies

  17. 7 CFR 3052.310 - Financial statements.

    Science.gov (United States)

    2010-01-01

    ... that reflect its financial position, results of operations or changes in net assets, and, where... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial statements. 3052.310 Section 3052.310 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER...

  18. Rates of credit obligations compliance on IFRS financial statement as a factor of financial stability

    Directory of Open Access Journals (Sweden)

    O. V. Uvarova

    2016-01-01

    Full Text Available For the purposes of effective management of economic activity of the entities of insufficiently own accounting information. For objective assessment of a financial and economic provision of the entity it is necessary to pass from separate accounting data to certain valuable ratios of major factors – to financial performance or financial ratios. Calculation and interpretation of their values the integral and essentially necessary part of a financial analysis, especially it is important if the company has credit liabilities. Conditions of credit agreements often include accomplishment of credit covenants which represent restrictions for activities and a financial position of the company in addition to timely settlement of percent and a body of the credit and provide to lessors a certain level of safety from bankruptcy of the debtor. The article considers the covenants and financial covenants definitions; the main financial covenants containing in credit agreements between large banks and borrowers; data on structure of a credit portfolio and financial debt of NLMK as at June 30, 2016; the main financial covenants containing in credit agreements of the companies of NLMK Group; definitions and formulas of calculation of financial rates based on the IFRS financial statement; calculation of covenants on the example of IFRS consolidated financial statements of NLMK; subtleties of calculation of financial rates; the main differences of financial rates calculation based on the financial statements prepared on the different principles; conclusion about stability and a financial condition of NLMK by the results received during calculation financial covenants as at end of the first half of the year 2016.

  19. Statement on the Consolidated Fuel Reprocessing Program

    International Nuclear Information System (INIS)

    Trauger, D.B.

    1984-01-01

    Oak Ridge National Laboratory has chosen the following objectives for future reprocessing plant design: reduced radiation exposure to workers; minimal environmental impact; improved plant operation and maintenance; improved accountability; no plutonium diversion; and reduced overall capital and operating cost. These objectives lead to a plant with totally remote operation. The Breeder Reactor Engineering Test (BRET) has been designed to perform a key role in demonstrating advanced reprocessing technology. It has been scheduled to be available to reprocess spent fuel from the Fast Flux Test Facility. The principal features of the Consolidated Fuel Reprocessing Program and of the BRET facility are appropriate for all reactor types

  20. CONTROVERSY REGARDING ELEMENTS IN THE FINANCIAL STATEMENTS

    OpenAIRE

    Marilena-Roxana Zuca

    2013-01-01

    The definitions of the elements identify their main traits, but their purpose, the reason for their presence in the financial statements is ensured by meeting the recognition criteria.The current concerns of accounting regulatory organisms in setting and developing the elements and the common conceptual Framework have materialized by setting recognition criteria, that help to achieve a more accurate position of elements in the financial statements, thus creating credibility and relevance of t...

  1. Financial Ratio Analysis of Audited Federal Financial Statements

    National Research Council Canada - National Science Library

    Kenney, Shane

    2000-01-01

    .... The purpose of these statements is to fully reveal federal entities' financial position, in the hope of enabling a better understanding of these federal entities, and to assist in resource management...

  2. Compilation of the FY 1998 Financial Statements for Other Defense Organizations

    National Research Council Canada - National Science Library

    1999-01-01

    ...." The entity represents a consolidation of financial information from various Defense organizations and funds, including the Military Departments, which use the Treasury Index 97 symbol, also referred to as Department 97. The FY 1998 financial statements for Other Defense Organizations reported $45.2 billion in assets, $227.5 billion in liabilities, and $54.6 billion in budget authority.

  3. Joint Logistics Systems Center’s Financial Statements for FY 1993

    Science.gov (United States)

    1994-06-24

    243,954,744). The Defense Pinance and Accounting Service - Denver Center uses the Departmental OnLine Accounting and Reporting System ( DOLARS ) to...consolidate and prepare JLSC’s financial reports. DOLARS uses an Air Force unique general ledger structure. These Notes to the Financial Statements of the

  4. Determining relevant financial statement ratios in Department of Defense service component general fund financial statements

    OpenAIRE

    Koetter, Nicholas J.; Krause, Daniel J.; Liptak, Carl S.

    2014-01-01

    Approved for public release; distribution is unlimited Department of Defense (DOD) service components are dedicating significant financial and human resources toward achieving unqualified opinions on audits of their financial statements. The DOD has endeavored to produce auditable financial statements as mandated in the Chief Financial Officers Act of 1990. In December of 2013, the United States Marine Corps became the first service component to achieve an unqualified audit opinion on its ...

  5. Revenue Recognition Challenges and Financial Statement Reporting

    African Journals Online (AJOL)

    It was also revealed in this study that the financial reporting objectives of an enterprise will determine the choice of revenue recognition policy to be taken. The study equally revealed some subtle manipulations that can vitiate the true position of financial statements hence the revenue to be recognised by a business ...

  6. Management's Discussion and Analysis and Financial Statements ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2017-06-21

    Jun 21, 2017 ... Significant changes to the internal and external environment ...... designed to provide reasonable assurance as to the reliability of financial information and as to the safeguarding of assets ... procedures to enable him to express an opinion on the financial statements. the external auditors have full and free.

  7. Financial statements for legal persons without patrimonial purpose

    OpenAIRE

    Franca DUMITRU; Maria MORARU

    2012-01-01

    Annual financial statements and annual financial statements that are simplified represent a whole. According to the law of accounting, annual financial statements must be accompanied by a written declaration of assumption of responsibility by the leadership of the legal person for annual financial statements in accordance with Accounting rules for legal persons without patrimonial purpose. Annual financial statements are prepared in a clear manner and should be consistent with the provisions ...

  8. THE FINANCIAL STATEMENTS OF USER REQUIREMENTS

    Directory of Open Access Journals (Sweden)

    Olga Gandziuk

    2016-11-01

    Full Text Available The aim of the study is to investigate qualitative characteristics of financial reporting in the context of the interests of different groups of users. The subject of research is the financial statements of the enterprise. Methodology. The theoretical base of the study are the provisions of general scientific theory of knowledge studied phenomena and processes, in particular: the methods of induction and deduction (in determining the principles of formation of the financial statements; analysis and synthesis (in establishing the role and importance of reporting to the needs of users comparisons, associations and analogies (the justification of qualitative characteristics of financial statements. The information base for scientific research became scientific papers and publications of domestic and foreign scientists-economists, materials of scientific-practical conferences, legislative and normative documents, the World Bank materials and International Accounting Standards Board. Results of the research showed that in the present conditions of economic activities of Ukrainian enterprises, for the effective functioning of the company, is required to have them control system was adequate to the environment, and this is possible only if the relevant information systems. The financial statement plays a crucial role in the management of the company and is the main source of information about the firm’s financial condition. The basic groups of users of financial statements, depending on the interest that they show to the results of activity of the enterprise: external and internal. External users are classified into direct users and not a direct financial interest. It was determined that the financial statements should meet, first of all, the information needs of users with a direct financial interest, it is this group of users has the most leverage to influence the company. The influence of the quality characteristics of the formation of the real

  9. Defense Finance and Accounting Service Work on the FY 1993 Air Force Defense Business Operations Fund Financial Statements

    National Research Council Canada - National Science Library

    Rau, Russell

    1995-01-01

    Our original audit objective was to determine whether the Air Force Consolidated Defense Business Operations Fund financial statements, prepared by the DFAS Denver Center for FY 1993, were presented...

  10. The Interim Financial Statements: The Case of Greece

    OpenAIRE

    Rogdaki, E.I.; Kazantzis, Ch.

    1999-01-01

    The following paper refers to the accounting and auditing issues which emerge in the preparation of the interim financial statements of the companies: Firstly, the interim financial statements are defined as being the financial statements that provide useful information about the financial position and the financial results of a company which are realized and accrued during the fiscal year. The interim financial statements can be prepared on a monthly basis, on a quarterly basis or covering a...

  11. IAS 1 Presentation of Financial Statements - A Closer Look

    OpenAIRE

    Muthupandian, K S

    2008-01-01

    The International Accounting Standards Committee issued the International Accounting Standard 1 Presentation of Financial Statements. The objective of IAS 1 is to prescribe the basis for presentation of general purpose financial statements (GPFS), to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities. The objective of GPFS is to provide information about the financial position, financial performance, and cas...

  12. Banking Consolidation Process and Impact to Financial Stability

    Directory of Open Access Journals (Sweden)

    Lina Novickytė

    2011-03-01

    Full Text Available Globalization promotes financial market participants to seek opportunities for efficient management of available resources and maximize benefits. In recent years, took place in the con­solidation process is mainly due to both macroeconomic and microeconomic factors. Most often leads to consolidation pro­cesses in order to gain economies of scale, market power and X-efficiency. Market consolidation and financial sector stability studies have shown that concentrated financial intermediaries market have a negative impact on the region/country/sector financial stability. In the future countries and regions (EU must find ways and means to smoothly manage the inevitable process of globalization under the supervision of future merger transac­tions in order to guarantee the efficiency and sustainability of the financial sector. Article in Lithuanian

  13. Defense Health Program Financial Reporting of General Property, Plant, and Equipment

    National Research Council Canada - National Science Library

    Lane, F

    2000-01-01

    .... The DoD Agency Wide financial statements include financial statements for a reporting entity called "Other Defense Organizations," a consolidation of financial information from various Defense...

  14. The consolidation of annual accounts in the Swiss Federal Government

    OpenAIRE

    Vollenweider, Petra

    2011-01-01

    Financial reporting in the public sector is influenced by the private sector accounting standards. The Swiss Federal Government has recently started to prepare consolidated financial statements. The purpose of this study is to describe how the Swiss Federal Government is doing its consolidated financial statements. Theoretically there are different consolidation theories and methods. The choice of consolidation method can explain which consolidation theory is used when the financial statement...

  15. Has Financial Statement Information become Less Relevant?

    DEFF Research Database (Denmark)

    Thinggaard, Frank; Damkier, Jesper

    ? The sample is based on non-financial companies listed on the Copenhagen Stock Exchange in the period 1984-2002. Our analyses show that all the applied accounting measures are value-relevant as investment strategies based on the information earn positive market-adjusted returns in our sample period......This paper presents insights into the question of whether accounting information based on the EU’s Accounting Directives has become less value-relevant to investors over time. The study is based on a research design first used by Francis and Schipper (1999), where value-relevance is measured...... as the total market-adjusted return that could be earned from investment strategies based on foreknowledge of financial statement information. It answers the question: Are investments based on financial statement information able to capture progressively less information in security returns over time...

  16. 76 FR 8848 - Proposed Information Collection (Financial Statement); Comment Request

    Science.gov (United States)

    2011-02-15

    ... (Financial Statement); Comment Request AGENCY: Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. SUMMARY: The Veterans Benefits Administration (VBA), Department of Veterans... use of other forms of information technology. Title: Financial Statement, VA Form 26-6807. OMB Control...

  17. 78 FR 69175 - Proposed Information Collection (Financial Statement); Comment Request

    Science.gov (United States)

    2013-11-18

    ... (Financial Statement); Comment Request AGENCY: Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. SUMMARY: The Veterans Benefits Administration (VBA), Department of Veterans... use of other forms of information technology. Title: Financial Statement, VA Form 26-6807. OMB Control...

  18. CHINESE SMEs' USES OF FINANCIAL STATEMENTS IN DECISION MAKING

    OpenAIRE

    HOWARD VAN AUKEN; KUI YANG

    2014-01-01

    With a sample of 46 Chinese small to medium-sized enterprises (SMEs), this study examines factors that might affect firms' use of financial statements to make decisions. Financial statements contain insightful information about potential risk and return implications of various decisions. A logit analysis shows that owners of Chinese SMEs use financial statements to make decisions according to the frequency of available financial statement information and their ability to interpret the informa...

  19. The Irrelevance of Financial Statements from Parastatals in Tanzania

    African Journals Online (AJOL)

    The use of financial statement information has been well documented. It is expected to facilitate decision making pertinent to the user. However, financial statement information is useful only if it is available on time. This study sought to establish whether financial statements from Tanzania parastatals were availed on time, ...

  20. 46 CFR 403.120 - Notes to financial statements.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Notes to financial statements. 403.120 Section 403.120... ACCOUNTING SYSTEM General § 403.120 Notes to financial statements. (a) All matters that are not clearly identified in the body of the financial statements of the Association, but which may materially influence...

  1. 17 CFR 240.17g-3 - Annual financial reports to be furnished by nationally recognized statistical rating organizations.

    Science.gov (United States)

    2010-04-01

    ... financial statements of the nationally recognized statistical rating organization or audited consolidated financial statements of its parent if the nationally recognized statistical rating organization is a...) of this section are consolidated financial statements of the parent of the nationally recognized...

  2. EDF - 2012 full-year results: Strong results and commitments delivered. Confirmation of the solidity of EDF's integrated and diversified business model. Annual results 2012. Electricite de France S.A.: Statutory Auditors' Report on the consolidated financial statements. Management report 2012

    International Nuclear Information System (INIS)

    2013-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2012 annual results, management report and Consolidated financial statements of the Group at 31 December 2012: EBITDA: euro 16.1 billion, +7.7% of which 4.6% organic growth; Net income excluding non-recurring items: euro 4.2 billion, +16.9%; Net income - Group share: euro 3.3 billion, + 5.3%; Allocation in 2013 of the CSPE receivable to dedicated assets, bringing coverage of eligible provisions to 100% starting as early as 2013; Net financial debt/EBITDA: 2.4x2; Proposed dividend of euro 1.25/share for the 20123 financial year, i.e. a pay-out ratio of 55% of net income excluding non-recurring items. 2013: a decisive year: Launch of 'Spark': plan targeting savings of euro 1 billion as soon as 2013; EBITDA: between 0% and 3% in organic growth excluding Edison; Edison: expectation for recurring EBITDA in line with 2012, with fluctuation in results possible in 2013-2014 linked to calendar effect from the re-negotiation of gas supply contracts; Net investments stable at euro 12 billion; Net financial debt/EBITDA: between 2x and 2.5x; Pay-out ratio: between 55% and 65% of net income excluding non-recurring items. Consolidated Financial Statements: Group accounting standards; comparability; significant events and transactions; regulatory events in France; changes in the scope of consolidation; segment reporting; sales; fuel and energy purchases; other external expenses; personnel expenses; taxes other than income taxes; other operating income and expenses; impairment / reversals; other income and expenses; financial result

  3. ANDRA - Management report and financial statements 2011

    International Nuclear Information System (INIS)

    2012-07-01

    The first part of this ANDRA report (French National Agency for radioactive waste management) comments the global financial balance and the evolution of the personnel. It briefly presents the CIGEO project, the FA-VL project (low activity and long life). It presents the various industrial activities such as surface storage centres, nuclear activities outside the electronuclear sector (waste collection, polluted sites, national inventory of radioactive wastes). It evokes public subsidies, investments, and the international activity. It discusses the securing of the future nuclear burden financing. It briefly indicates the main objectives for 2012. The second part contains the different tables of the financial statements. These accounts are discussed and commented in appendix

  4. 75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

    Science.gov (United States)

    2010-04-29

    ... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...

  5. FINANCIAL AUDIT: Capitol Preservation Fund's Fiscal Years 2001 and 2000 Financial Statements

    National Research Council Canada - National Science Library

    Franzel, Jeanette

    2002-01-01

    The statements of the financial position of the Capitol Preservation Fund (the Fund) as of September 30, 2001, and 2000 were audited, and the related statements of activities and statements of cash flows for the fiscal years then ended...

  6. Annual report and summary financial statement 1991-1992

    International Nuclear Information System (INIS)

    1993-01-01

    The 1991-92 Annual Report for Scottish Hydro-Electric PLC is presented. It includes key financial statistics, the financial calendar, details of the Board of Directors, the Chairman's Statement, the Chief Executives' review of operations, operational statistics, a summary financial statement, a summary group profit and loss account, summary balance sheets, the Auditors' Report and a customer map. (UK)

  7. INFORMATION ON FINANCIAL INSTRUMENTS INCLUDED IN ANNUAL FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Marius Gust

    2013-01-01

    Full Text Available This survey aims at emphasizing several aspects of the recognition, measurement and presentation of information on capital assets and how they are reflected in accounting. In this respect, here is a presentation of the calculation, preparation and regulation of impairment that can affect capital assets and the way accounting entries may influence the financial status and performance of a company. Although the bookkeeping variants of asset impairment, namely the Romanian and the international ones, are different, the information reported in annual financial statements is the same and assets are shown at their fair values. The issues approached in the paper herein are vast and they open new prospects to scientific research.

  8. Consolidation and Disclosure of SPE

    OpenAIRE

    中野, 貴之

    2011-01-01

    The purpose of this study is to discuss what kinds of information are demanded by the users of financial statements and what kinds of problems plague the companies using SPE (special purpose equity), while considering the actual situations of the consolidation and disclosure of SPE in Japan. At present, there is the trend of consolidating a broad range of SPE in Japan, etc., but some users of financial statements point out that it became difficult to understand consolidated financial stat...

  9. Defense Commissary Resale Stock Fund Financial Statements For FY 1992

    National Research Council Canada - National Science Library

    Young, Shelton

    1993-01-01

    The initial objectives of the audit were to determine whether the FY 1992 Commissary Resale Stock fund financial statements present fairly the financial position and results of operation of the fund...

  10. Systematization of falsification risk factors in financial statements: accounting aspect

    Directory of Open Access Journals (Sweden)

    N.О. Mizyakina

    2016-12-01

    Full Text Available The presence of false information in the financial statements significantly undermines the confidence of investors and creditors of a company. This necessitates finding and identifying risk factors for falsifying financial statements. Risk factors for financial statements falsification are various and there are different approaches to their classification. It is found out that there is the problem on the clear separation of the concept "creative accounting" (which allows to present a company in the best light for investors and creditors within the law and the concept "falsification of financial statements indicators", which undermines confidence and causes million expenditures of investors and creditors. The article determines the main reasons and factors that lead to the falsification of enterprise’s financial statements. The study suggests the approaches to the classification of risk factors for falsifying financial statements, including those, which have a direct or indirect impact on the reporting. The classification of risk factors for falsifying financial statements is necessary to systematize falsification risks of financial statements in order to minimize them and avoid them during the process of formation of financial reporting indicators.

  11. Financial reporting in XBRL : first evidence on financial statement notes of Italian unlisted companies

    OpenAIRE

    Fradeani, Andrea; Panizzolo, Davide; Metushi, Eldi

    2016-01-01

    The new taxonomy 2014-11-17 mandates Italian unlisted companies to codify in XBRL also the notes to the financial statements. Building on previous literature, the aim of this study is to analyze the impact of mandatory XBRL extension to the financial statements notes on financial reporting quality of the Italian unlisted companies. We focus our analysis on the taxonomy usage and the customizations made by the filers. Our data represents the very first sample of Italian financial statements fi...

  12. CEA - 2012 Annual Report, 2012 Financial Statements

    International Nuclear Information System (INIS)

    2013-01-01

    In its first part, this report proposes an overview of activities within the CEA. They concern the CEA's programs on low on carbon energies and associated fundamental researches, on defence and global security and associated fundamental researches, on information technologies and associated fundamental researches, on health technologies and associated fundamental researches, and on very large research infrastructures and associated fundamental researches. The second part addresses the scientific assessment, activities related to teaching and training, to innovation towards enterprises, and to support to valorization. It also indicates prices awarded to the CEA. The third part addresses CEA management and institutional relationships, human resources, international relationships, activities related to communication and information diffusion, and risk management. The fourth part describes the CEA organization, its governance and its various bodies. The second volume contains the financial statements for 2012

  13. Understanding Financial Statements in Clinical Practice: A Primer.

    Science.gov (United States)

    Makanji, Heeren S; Jenis, Louis G

    2017-05-01

    The purpose of this article is to describe the different types of financial statements and the information they contain regarding the current and long-term financial health of a business practice. These statements are essential to guiding strategic decision making for physicians and executives.

  14. 18 CFR 351.1 - Financial statements released by carriers.

    Science.gov (United States)

    2010-04-01

    ... Commission, based on generally accepted accounting principles for which there is authoritative support... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Financial statements... REGULATORY COMMISSION, DEPARTMENT OF ENERGY ACCOUNTS UNDER THE INTERSTATE COMMERCE ACT FINANCIAL STATEMENTS...

  15. 46 CFR 298.42 - Reporting requirements-financial statements.

    Science.gov (United States)

    2010-10-01

    ... statements be in accordance with generally accepted accounting principles, by accountants as described in... report and an annual financial report, prepared in accordance with generally accepted accounting... 46 Shipping 8 2010-10-01 2010-10-01 false Reporting requirements-financial statements. 298.42...

  16. 7 CFR 1744.66 - The financial requirement statement (FRS).

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false The financial requirement statement (FRS). 1744.66... TELEPHONE LOANS Advance and Disbursement of Funds § 1744.66 The financial requirement statement (FRS). (a... on copies of invoices from the other utility. (2) Engineering—(i) Preloan engineering. Based on a...

  17. Southwestern Power Administration Combined Financial Statements, 2006-2009

    Energy Technology Data Exchange (ETDEWEB)

    None

    2009-09-01

    We have audited the accompanying combined balance sheets of the Southwestern Federal Power System (SWFPS), as of September 30, 2009, 2008, 2007, and 2006, and the related combined statements of revenues and expenses, changes in capitalization, and cash flows for the years then ended. As described in note 1(a), the combined financial statement presentation includes the hydroelectric generation functions of another Federal agency (hereinafter referred to as the generating agency), for which Southwestern Power Administration (Southwestern) markets and transmits power. These combined financial statements are the responsibility of the management of Southwestern and the generating agency. Our responsibility is to express an opinion on these combined financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the combined financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Southwestern and the generating agency’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the combined financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall combined financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the combined financial statements referred to above present fairly, in all material respects, the respective financial position of the Southwestern Federal Power

  18. Financial Reporting under GASB Statement No. 34 and ASBO International Certificate of Excellence Financial Reporting.

    Science.gov (United States)

    Heinfeld, Gary

    This guide presents a financial model that affects all governmental entities that issue financial statements in conformity with Generally Accepted Accounting Principles (GAAP). The model was prepared to provide school business officials specific examples of school system financial-statement presentations. The guide is divided into six chapters.…

  19. Reporting of the FY 1999 Military Retirement Health Benefits Liability in the DOD Financial Statements

    National Research Council Canada - National Science Library

    2000-01-01

    ... annual audited financial statements. The FY 1999 DoD Agency-Wide financial statements included the financial statements of a reporting entity entitled "Other Defense Organizations-General Funds...

  20. 75 FR 21019 - Notice of Proposed Information Collection: Comment Request; Financial Statement of Corporate...

    Science.gov (United States)

    2010-04-22

    ... URBAN DEVELOPMENT Notice of Proposed Information Collection: Comment Request; Financial Statement of... also lists the following information: Title of Proposal: Financial Statement of Corporate Application... need for the information and proposed use: The information collected on the ``Financial Statement of...

  1. 78 FR 52007 - 30-Day Notice of Proposed Information Collection: Financial Statement of Corporate Applicant for...

    Science.gov (United States)

    2013-08-21

    ... Information Collection: Financial Statement of Corporate Applicant for Cooperative Housing Mortgage AGENCY... Information Collection Title of Information Collection: Financial Statement of Corporate Applicant for...: The information collected on the ``Financial Statement of Corporate Application for Cooperative...

  2. Adopting the international financial reporting standards: a positive impact on 2004 income and consolidated equity

    Energy Technology Data Exchange (ETDEWEB)

    Mallet, O

    2005-03-01

    This document provides preliminary information on the quantitative impact of transition to the International Financial Reporting Standards (IFRS) on AREVA 2004 financial position, in accordance with AMF recommendations regarding financial communications during the transition period.The basis for preparing 2004 information on transition to the IFRS comes from: the International Accounting Standards (IAS)/IFRS, as approved by the European Union. The impact of IAS 32/39 and IFRS 4 will not be recognized in shareholders equity until January 1, 2005; AREVA anticipation of the resolution of technical issues and ongoing projects under discussion by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC). Uncertainty factors on practical methods for applying certain standards and ongoing interpretations by IFRIC and regulatory organizations could impact the exactness of restatements identified at this stage. For all of these reasons, it is conceivable that the opening balance sheet at January 1, 2004, as presented in this document, will not be the balance sheet actually used to establish the consolidated financial statements for 2005. (author)

  3. The Consequences of “Options” in the Directive 2013/34/Eu of the European Parliament and of the Council on the Financial Statements

    Directory of Open Access Journals (Sweden)

    Eva Hýblová

    2017-01-01

    Full Text Available Directive 13/34/EC of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings is an instrument of the harmonisation of accounting in member states of the European Union. The Directive contains a number of various ways for recognition and measurement of financial statements, alternative forms of statements or simplifications for small and medium sized enterprises, worded as “permit or require”. On the one hand, these differing ways can facilitate application of the Directive in national legislations; on the other hand, they can significantly reduce the comparability of information published in financial statements. The aim of the paper is to verify the relation between the options to be chosen and the variability of the resulting values of the financial statement items. Based on the findings, the results are evaluated in relation to the informative function of financial reporting.

  4. REGARDING THE USERS OF FINANCIAL STATEMENTS AND THEIR INFORMATION NEEDS

    Directory of Open Access Journals (Sweden)

    Mihaela Luca

    2008-12-01

    Full Text Available In order to satisfy the information needs of users from inside and outside the organizations, accounting elaborated a proper method of generalization and synthesizing of information it produces, which involved the development of some appropriate tools, known as financial statements. For users outside the company, these are often the only source of information available directly from the organization. The knowledge of the interests of different categories of users has an important role in trying to improve the quality of financial statements, which should allow taking correct decisions based on the financial position, the results of economic and financial activity and the changes in the financial position of the company.

  5. VALUE RELEVANCE OF GROUP FINANCIAL STATEMENTS BASED ON ENTITY VERSUS PARENT COMPANY THEORY: EVIDENCE FROM THE LARGEST THREE EUROPEAN CAPITAL MARKETS

    OpenAIRE

    Muller Victor-Octavian

    2012-01-01

    Financial statementsn#8217; main objective is to give information on the financial position, performance and changes in financial position of the reporting entity, which is useful to investors and other users in making economic decisions. In order to be useful, financial information needs to be relevant to the decision-making process of users in general, and investors in particular. Regarding consolidated financial statements, the accounting theory knows four perspectives (theories) on which ...

  6. Fiscal Year 2011 U.S. Government Financial Statements: The Federal Government Faces Continuing Financial Management and Long-Term Fiscal Challenges

    Science.gov (United States)

    2012-03-01

    report on the consolidated financial statements, internal control, and compliance with selected provisions of laws and regulations . We considered the...integrated, multifunction systems that perform business-related tasks such as general ledger accounting and supply chain management. DOD considers...Actions taken to stabilize financial markets—including aid to the automotive industry—increased the government’s costs and contributed to growing federal

  7. Report and financial statements 31 March 1992

    International Nuclear Information System (INIS)

    1993-06-01

    The directors submit their annual report and audited financial statements of the Company for the year ended 31 March 1992. The Company designs, engineers, constructs and acts as project manager and the larger part of its activities are connected with nuclear and conventional power generation. Substantial business is being undertaken by the Company's Defence and Process Divisions. The Company's Engineering Development Centre performs contract research and development and manufacturers specialist plant. The gas reactor business which services the requirements of Britain's three nuclear generating companies, Nuclear Electric, Scottish Nuclear and British Nuclear Fuels, continues to perform strongly. The PWR business division has continued to support the Sizewell B PWR construction and has pursued opportunities for new work in Eastern Europe. In the field of conventional power the Company secured a metering contract from National Power. The contract awarded by British Nuclear Fuels early in 1991 to construct a new 160 MW Combined Heat and Power gas turbine station at Sellafield is proceeding satisfactorily. Work on the AWE project management support contract at Aldermaston continues. Elsewhere safety and consultancy work for PSA Services and MoD remains an important part of the Company's defence business. The Company has obtained several contracts in the process area, notably in environmental engineering. (Author)

  8. FINANCIAL COMUNICATION THROUGH THE FINANCIAL STATEMENTS ACORDING TO THE INTERNATIONAL ACCOUNTING SETTLEMENTS

    OpenAIRE

    Elena Hlaciuc; Camelia Mihalciuc; Anisoara Apetri

    2008-01-01

    The major financial statements are designed to provide a picture of theoverall financial position and performance of the business. In order to provide thisoverall picture, the accounting system will normally produce five major financialreports on a regular recurring basis. These financial statements, taken together,provide on overall picture of the financial health of the business. It says that who hasthe information has the power, and the way that it gets from the receiver iscommunication. F...

  9. Deficiencies in FY 1998 DOD Financial Statements and Progress Toward Improved Financial Reporting

    Science.gov (United States)

    1999-11-26

    DEFICIENCIES IN FY 1998 DOD FINANCIAL STATEMENTS AND PROGRESS TOWARD IMPROVED FINANCIAL REPORTING Report No. D-2000-041 November 26, 1999 Office...UNDER SECRETARY OF DEFENSE (COMPTROLLER) SUBJECT: Audit Report on Deficiencies in FY 1998 DoD Financial Statements and Progress Toward Improved... Financial Reporting ( Report No. D-2000-041) We are providing this audit report for information and use. It identifies and summarizes the major

  10. 12 CFR 350.5 - Alternative annual disclosure statements.

    Science.gov (United States)

    2010-01-01

    ... bank subsidiary of a holding company which provides only the consolidated financial statements of the... audited financial statements, by copies of the audited financial statements and the certificate or report... the Securities and Exchange Commission or by sections in the holding company's consolidated financial...

  11. The concept of the materiality in the financial statement auditing

    OpenAIRE

    Raziūnienė, Daiva; Verbickaitė, Gintarė

    2017-01-01

    The financial auditors are required to provide the assurance for the public whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework. The International Federation of Accountants, the International Auditing and Assurance Standards Board formulated general guidelines and principles of audit materiality assessments and provided that in auditing standards (IAA 320 and IAA 450). Financial auditors have independently to...

  12. 17 CFR 210.8-03 - Interim financial statements.

    Science.gov (United States)

    2010-04-01

    ... instructions as to content—(1) Footnotes. Footnote and other disclosures should be provided as needed for fair presentation and to ensure that the financial statements are not misleading. (2) Material subsequent events and...

  13. Defense Homeowners Assistance Fund Financial Statements For FY 1992

    National Research Council Canada - National Science Library

    Hendricks, Nancy

    1993-01-01

    The primary objective of the audit was to determine whether the Fund's FY 1992 financial statements were presented fairly in accordance with generally accepted accounting principles for Federal entities...

  14. Joint Logistics Systems Center's Financial Statements for FY 1993

    National Research Council Canada - National Science Library

    Young, Shelton

    1994-01-01

    The initial audit objectives were to determine whether the FY 1993 financial statements for the JLSC were presented fairly in accordance with generally accepted accounting principles for Federal agencies...

  15. Foreign Military Loan Liquidating Account Financial Statements for FY 1992

    National Research Council Canada - National Science Library

    Hendricks, Nancy

    1993-01-01

    The overall objective of the audit was to determine whether the FMLLA financial statements for FY 1992 are presented fairly in accordance with generally accepted accounting principles as implemented...

  16. Annual report and summary financial statement 1990-1991

    International Nuclear Information System (INIS)

    1992-01-01

    The 1990-1991 Annual Report for Scottish Hydro-Electric PLC includes their rotating territory in Scotland, details of the Board of Directors, the Chairman's Statement, the chief Executive's Review of Operations, a summary profit and loss account, a summary balance sheet and a summary financial statement. (UK)

  17. Ratio analysis specifics of the family dairies' financial statements

    Directory of Open Access Journals (Sweden)

    Mitrović Aleksandra

    2015-01-01

    Full Text Available The subject of this paper is the evaluation of the financial analysis specifics of the dairy enterprises with a focus on the implementation of the ratio analysis of financial statements. The ratio analysis is a central part of financial analysis, since it is based on investigating the relationship between logically related items in the financial statements to assess the financial position of the observed enterprise and its earning capacity. Speaking about the reporting of financial performance in family dairies, the basis is created for displaying techniques of financial analysis, with a special indication on the specifics of their application in agricultural enterprises focusing on companies engaged in dairying. Applied in the paper is ratio analysis on the example of a dairy enterprise, i.e. a family dairy operating in Serbia. The ratio indicators are the basis for identifying relationships based on which by comparing the actual performance and certain business standards differences or variations are identified.

  18. TAX IMPLICATIONS OF ADOPTING IFRS FOR STATUTORY FINANCIAL STATEMENT, EMPIRICAL STUDY ON BSE COMPANIES

    Directory of Open Access Journals (Sweden)

    Burca Valentin

    2013-03-01

    Full Text Available The current context of globalization, financial markets mondialisation, internationalization of production and intensification of international trade relations represents references that justify the need for an international project of reducing international accounting differences between the local accounting referential. Recent developments in the area of financial reports improvements interest devotes international accounting convergence solution as the way forward. Regardless of the approach chosen by each country in the process of international accounting convergence, the situation of conflict situation between state vs. accounting profession persists nowadays. This situation has led to the establishment of a dual financial reporting system at the national level, not at all beneficial to the users of financial information. The success of international accounting convergence process is reduced to the level of the consolidated financial statements of listed companies. The next step that needs to be done is also to provide solutions of accounting convergence to the rest of the companies, and also to extend the normalization process for the statutory financial statements too. Positive effects of international accounting referential, confirmed by recent studies, become a solid base for adopting IFRS for statutory financial statements too. The main impediment that needs to be eliminated is to convince the state that this step is appropriate for all players of accounting information market. Considering romanian current situation, where from now IFRS is used to report the statutory financial statements of listed companies too, we try, by an empirical approach at the level of BVB, to look for the impact of such a legislative change. The main objective is to check if the state budget is affected consistently, and also take a look on the economic effects of IFRS adoption gained by companies, especially on evolution of rate-of-equity and short

  19. Annual review and summary financial statement 1992/93

    International Nuclear Information System (INIS)

    1993-01-01

    The report of the Board of Directors of Scottish Power for 1992/1993 is presented along with the Chairman's statement, the Chief Executive's Review, and the Environmental Statement. A financial review with group profit and loss account, balance sheets and auditors statement is given. Scottish Power welcomes the findings of the Cadbury Committee report on the Financial Aspects of Corporate Governance which recommends that listed companies should include in their report details of their compliance with a Code of Best Practice Highlights such as the 1,486 million pounds turnover, the 220 million pounds profit and the 11.15p dividend per share are quoted. (UK)

  20. Annual review and summary financial statement 1992/93

    Energy Technology Data Exchange (ETDEWEB)

    1993-10-01

    The report of the Board of Directors of Scottish Power for 1992/1993 is presented along with the Chairman`s statement, the Chief Executive`s Review, and the Environmental Statement. A financial review with group profit and loss account, balance sheets and auditors statement is given. Scottish Power welcomes the findings of the Cadbury Committee report on the Financial Aspects of Corporate Governance which recommends that listed companies should include in their report details of their compliance with a Code of Best Practice Highlights such as the 1,486 million pounds turnover, the 220 million pounds profit and the 11.15p dividend per share are quoted. (UK)

  1. Applying Department of Defense Financial Statement Guidelines to the Naval Postgraduate School

    National Research Council Canada - National Science Library

    Flannery, Robert

    2002-01-01

    ... auditable financial statements. This thesis reviews the extent to which the Naval Postgraduate School can apply the guidelines for federal financial accounting to its own financial management capabilities...

  2. STRUCTURAL RELATIONS OF FINANCIAL STATEMENTS AND THE INSTRUMENTS OF FINANCIAL MANAGEMENT

    OpenAIRE

    CLAUDIA ISAC; ALIN ISAC

    2012-01-01

    The present paper aims to highlight the dynamic nature of the balance sheet as a component of annual financial statements and the informational support offered by the indicators calculated for financial analysis. In the first part of the paper there are presented some theoretical issues about the current context of the use of financial statements as a useful tool in the process of decision making and the forms and the parts of such situations. The balance sheet represents a model of the firm'...

  3. Inflation and Financial Statement Analysis in the International Accounting Classroom

    Science.gov (United States)

    Riordan, Diane A.; Riordan, Michael P.

    2009-01-01

    This article provides an exercise for students to contemplate the effects of inflation during financial statement analysis. Even small amounts of inflation accumulating over time can grow to distort a company's reported financial position and results of operations. The growing economies in emerging markets, the international market for oil, and…

  4. The concept of disclosure in the notes to financial statements

    Directory of Open Access Journals (Sweden)

    A.V. Ozeran

    2015-12-01

    Full Text Available The notes to Financial Statements are one of the most powerful sources of information for management decisions concerning a business entity. The tendency to overload informative notes causes rethinking of their role and content. The aim of the study is to discuss a number of ideas that set the requirements for disclosure in the notes to financial statements in order to prevent duplication of information in financial reporting as a whole and eliminate irrelevant disclosure to achieve clarity, consistency and effectiveness of the information contained in the notes. Based on the proposed clarified definition of «the notes to financial statements», we concluded that the notes should: a provide details and explanations of primary financial statements; b apply only to transactions and events existing at the reporting date; c focus on the needs of specific users and reflect reporting information specific to each entity. The development of the paper concepts will help strengthen the usefulness of company financial statements and increase their transparency.

  5. Fraudulent Financial Statement: Evidence from Statement on Auditing Standard No. 99

    Directory of Open Access Journals (Sweden)

    Suyanto Suyanto

    2009-01-01

    Full Text Available The goals of this study are to empirically identify fraud risk factors and construct a model to predict the likelihood of financial statement frauds based on SAS No. 99. Employing logistic regression on 143 firms, this research  finds that fraud risk factor proxies for Pressure—net profit/total assets—and Opportunity— inventory/total assets ratio, related party transactions, and Big 4—are significantly associated with fraudulent financial statements, whereas none of the fraud risk factor proxies for Rationalization is significantly associated with fraudulent financial statements. Consistent with prior research, it seems that the likelihood of fraudulent financial statements is easier to be observed publicly using fraud risk factor proxies for Pressure and Opportunity rather than Rationalization. The constructed model can correctly classify firms with a relatively high success rate.

  6. 24 CFR 242.58 - Books, accounts, and financial statements.

    Science.gov (United States)

    2010-04-01

    ... HOUSING AND URBAN DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES MORTGAGE INSURANCE FOR HOSPITALS Regulatory Agreement, Accounting and Reporting, and Financial... accordance with the Consolidated Audit Guide for Audits of HUD Programs (Handbook 2000.04) and OMB Circular A...

  7. Fundamentals of financial statement analysis for academic physician managers.

    Science.gov (United States)

    Danzi, J T; Boom, M L

    1998-04-01

    Academic medical centers (i.e., teaching hospitals) and academic medical practices are under pressure to control costs to compete with for-profit health care institutions. The authors explain how academic physician managers who want to control costs wisely must first understand the cost structure of the medical center or practice and compare that structure with those of for-profit institutions. Doing this requires a firm understanding of how to use a valuable tool, financial statement analysis, to assess an institution's health and performance. Such analysis consists of calculating a variety of financial ratios (e.g., operating income divided by revenues; net income divided by total assets) and then comparing them with the corresponding ratios that are considered industry norms. Three types of financial statements (defined in detail) lend themselves to this approach: the balance sheet, income statement, and statement of cash flows. The authors define standard financial ratios, point out their uses and limitations, and emphasize that a ratio's meaning derives from comparing it with the corresponding benchmark ratio in the industry as a whole. Ratios should be used not as the end point of assessing financial status, but as ways to identify possible problems that require further investigation. Analysis of trends of ratios over time within an institution is a complementary approach. The authors then discuss the use of ratios in three standard types of institutional evaluation: of performance, of liquidity and leverage, and of strategic planning. In addition, they present the financial statement of a fictitious academic medical center as an example of how to use ratios for financial statement analysis. The authors emphasize that the key to using the ratios they discuss and hundreds of others is first to decide what question needs answering and then to choose the relevant ratios to provide a basis for finding the answer.

  8. Federal Energy Regulatory Commission fiscal year 1997 annual financial statements

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-02-24

    This report presents the results of the independent certified public accountants` audit of the Federal Energy Regulatory commission`s statements of financial position, and the related statements of operations and changes in net position. The auditors` work was conducted in accordance with generally accepted government auditing standards. An independent public accounting firm conducted the audit. The auditors` reports on the Commission`s internal control structure and compliance with laws and regulations disclosed no reportable conditions or instances of noncompliance.

  9. Deficiencies in FY 1998 DOD Financial Statements and Progress Toward Improved Financial Reporting

    National Research Council Canada - National Science Library

    Lane, F

    1999-01-01

    The audit objectives were to identify and summarize the major deficiencies that prevented favorable audit opinions on the FY 1998 DoD financial statements and to identify the actions taken or planned...

  10. Financial audit : District of Columbia highway trust fund's fiscal year 1999 and 1998 financial statements

    Science.gov (United States)

    2000-10-01

    This report presents the results of our audits of the financial statements of the District of Columbia Highway Trust Fund for the fiscal years ended September 30, 1999 and 1998, and our examination of the forecasted statements of the Fund's expected ...

  11. Annual Financial Statements � the Final Products of Accounting

    Directory of Open Access Journals (Sweden)

    Genu Alexandru Caruntu

    2016-07-01

    Full Text Available Being a tool and a first class social stake in decision making, accounting language should be understood by all users in the national area, but also across national borders, which requires an internationalization of accounting language through standardization and harmonization. The expansion and multiplication of international economic relations in which commodity and capital markets are expanding at a rapid pace, ignoring national borders, due to globalization process, require that the accounting systems should ensure through the financial statements (balance sheet, profit and loss account, statement of changes in equity, cash flow statement, accounting policies and explanatory notes accounting information comparable between countries.

  12. Financial Audit: IRS's Fiscal Years 2001 and 2000 Financial Statements

    National Research Council Canada - National Science Library

    2002-01-01

    ...) as of and for the fiscal years ending September 30, 2001, and 2000. Our audits were required by the Chief Financial Officers Act of 1990, as expanded by the Government Management Reform Act of 1994...

  13. FINANCIAL STATEMENTS – SUPPLIER OF FINANCIAL ACCOUNTING INFORMATION

    Directory of Open Access Journals (Sweden)

    Costi Boby

    2013-09-01

    Full Text Available Continuous improvement of the accounting information system is considering financial and accounting information, which must be true, accurate, reliable, timely presented to users, constructed so as to meet the different goals of different users.

  14. FINANCIAL STATEMENTS – SUPPLIER OF FINANCIAL ACCOUNTING INFORMATION

    OpenAIRE

    Costi Boby

    2013-01-01

    Continuous improvement of the accounting information system is considering financial and accounting information, which must be true, accurate, reliable, timely presented to users, constructed so as to meet the different goals of different users.

  15. 17 CFR 210.8-04 - Financial statements of businesses acquired or to be acquired.

    Science.gov (United States)

    2010-04-01

    ... Article 8 Financial Statements of Smaller Reporting Companies § 210.8-04 Financial statements of... financial statements of the business acquired or to be acquired and the smaller reporting company's most...) of this section and the pro forma financial information required by § 210.8-05, the determination of...

  16. DOD Financial Management: Improved Documentation Needed to Support the Air Force’s Military Payroll and Meet Audit Readiness Goals

    Science.gov (United States)

    2015-12-01

    balances to match Treasury balances. 19The financial reporting system collects and consolidates information for financial statement presentation...2The financial reporting system collects and consolidates information for financial statement presentation. 3Subsistence...efforts to achieve auditability of its financial statements , the Air Force in July 2014 asserted audit readiness for its Schedule of Budgetary

  17. FASB's ASU 2011-7 changes financial statement reporting requirements.

    Science.gov (United States)

    Reinstein, Alan; Churyk, Natalie Tatiana

    2012-02-01

    FASB's new Accounting Standards Update 2011-07 will change how healthcare entities accumulate and report major portions of their financial statements, including patient revenues, net accounts receivables, and bad-debt expenses. Healthcare entities now must reclassify their provisions for bad debts associated with patient service revenue from an operating expense to a deduction from patient service revenue (net of contractual allowances and discounts). International Financial Reporting Standards do not require healthcare entities to comply with this new standard.

  18. Including estimates of the future in today's financial statements

    OpenAIRE

    Mary Barth

    2006-01-01

    This paper explains why the question is how, not if, today's financial statements should include estimates of the future. Including such estimates is not new, but their use is increasing. This increase results primarily because standard setters believe asset and liability measures that reflect current economic conditions and up-to-date expectations of the future will result in more useful information for making economic decisions, which is the objective of financial reporting. This is why sta...

  19. Selected problems in auditing the financial statements of credit institutions

    OpenAIRE

    Joanna Wielgórska-Leszczyńska

    2016-01-01

    The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. T...

  20. Visualizing Accounting Transaction Flows into Financial Statements

    Science.gov (United States)

    Jones, Daniel J.

    2012-01-01

    Professors who teach the introductory accounting course should ask themselves: "What are the core concepts that I wish to have my non-majors remember if I meet them at their ten-year alumni class reunion?" There is a fundamental logic to financial accounting. This teaching note presents foundational accounting concepts in a manner that…

  1. Financial Management: U.S. Army Corps of Engineers Financial Information Imported Into the Defense Departmental Reporting System - Audited Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W

    2004-01-01

    ... are: the Corps of Engineers Financial Management System, the Corps of Engineers Enterprise Management Information System, and the Defense Departmental Reporting System - Audited Financial Statements...

  2. Financial Statement Audit Report of Halifax Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Halifax Community College financial statement audit for the fiscal year ending on June 30, 1998. Halifax Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were subject to audit…

  3. Financial Statement Audit Report of Guilford Technical Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Guilford Technical Community College financial statement audit for the fiscal year ending on June 30, 1998. Guilford Technical Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were…

  4. Financial Statement Audit Report of Isothermal Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Isothermal Community College financial statement audit for the fiscal year ending on June 30, 1998. Isothermal Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were subject to…

  5. Financial Statement Audit Report of Pamlico Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Pamlico Community College financial statement audit for the fiscal year ending on June 30, 1998. Pamlico Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were subject to audit…

  6. Report: AUDIT OF EPA’S FISCAL 2000 FINANCIAL STATEMENTS

    Science.gov (United States)

    Report #2001-1-00107, Feb 28, 2001. We did not identify any material inconsistencies between the info presented in EPA’s financial statements and the info presented in EPA’s RSSI, Required Supplemental Information, and Management Discussion and Analysis.

  7. Financial Statement Audit Report of Rockingham Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Rockingham Community College financial statement audit for the fiscal year ending on June 30, 1998. Rockingham Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were subject to…

  8. Financial Statement Audit Report of Tri-County Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Tri-County Community College financial statement audit for the fiscal year ending on June 30, 1998. Tri-County Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were subject to…

  9. Financial Statement Audit Report of Randolph Community College.

    Science.gov (United States)

    Campbell, Ralph

    This report presents the results of the Randolph Community College financial statement audit for the fiscal year ending on June 30, 1998. Randolph Community College is a component of the State of North Carolina, thus the authority to audit is granted by Article 5A of G.S. 147. The accounts and operations of the institution were subject to audit…

  10. 7 CFR 1775.21 - Audit or financial statements.

    Science.gov (United States)

    2010-01-01

    ... follows: (a) Grantees expending $500,000 or more Federal funds per fiscal year will submit an audit... grantee's fiscal year. Additional audits may be required if the project period covers more than one fiscal... 7 Agriculture 12 2010-01-01 2010-01-01 false Audit or financial statements. 1775.21 Section 1775...

  11. 49 CFR 1200.1 - Financial statements released by carriers.

    Science.gov (United States)

    2010-10-01

    ..., except in reports to this Board, based on generally accepted accounting principles for which there is... 49 Transportation 9 2010-10-01 2010-10-01 false Financial statements released by carriers. 1200.1... TRANSPORTATION BOARD, DEPARTMENT OF TRANSPORTATION (CONTINUED) ACCOUNTS, RECORDS AND REPORTS GENERAL ACCOUNTING...

  12. Financial Statements Content and Investment Decisions-A study of ...

    African Journals Online (AJOL)

    This work empirically investigates the effect of information content of financial statements on shareholders' investment decisions. The study is vital as it portrays the extent to which shareholders of firms listed on the Nigerian Stock Exchanged (NSE) are influenced by the contents of published accounts in their investment ...

  13. 7 CFR 1980.445 - Periodic financial statements and audits.

    Science.gov (United States)

    2010-01-01

    ... OF AGRICULTURE (CONTINUED) PROGRAM REGULATIONS (CONTINUED) GENERAL Business and Industrial Loan... balance for loans under this subpart, at the end of the borrower's fiscal year of more than $1 million... specified in this subpart. (b) Unaudited financial statements. For borrowers with a loan balance (principal...

  14. OPENING OF FINANCIAL STATEMENTS TOWARDS PROVISIONAL INFORMATION

    OpenAIRE

    Mihai Ristea; Mihaela Gruiescu; Corina Dumitru; Marilena Zuca

    2010-01-01

    The relevance of accounting information in making effective decisions cannot be reduced only to the retrodiction function. It should help users to evaluate past, present and future events. In this respect, there can be accepted the predictive function of accounting information in forecasting the financial position and performance, and the treasury of the company. To have predictive value, such information must be in the form of explicit forecasts through the provisional accounts as constructe...

  15. 33 CFR 138.80 - Financial responsibility, how established.

    Science.gov (United States)

    2010-07-01

    ... must submit annual, current, and audited non-consolidated financial statements prepared in accordance... certificant, apart from any other affiliated entity, and identify the consolidated financial statement to...-insurance. By filing with the Director, NPFC, the financial statements specified in paragraph (b)(3)(i) of...

  16. Financial statements and the discharging of financial accountability of ordinary public schools in South Africa

    Directory of Open Access Journals (Sweden)

    Frank Doussy

    2014-10-01

    Full Text Available The Schools Act, 84 of 1996 (section 42(b, requires that all public schools in South Africa, “as soon as practical, but not later than three months after the end of each financial year, draw up annual financial statements”. These schools must further submit audited financial statements to the Department of Education within six months after the school’s year end (section 43 and according to section 43(6, “at the request of an interested person, the governing body must make the records referred to in section 42, and the audited or examined financial statements referred to in this section, available for inspection”. The compilation, auditing and submission of these statements are therefore legally required and are compulsory for all schools. The study aims firstly to establish whether schools in South Africa comply with the current legislative prescripts and accounting and auditing practices, and secondly to identify possible problem areas in this regard.

  17. Uranium enrichment services activity. Financial statements for fiscal year ended June 30, 1975

    International Nuclear Information System (INIS)

    1975-01-01

    Financial statements for the Uranium Enrichment Services Activity, covering both ERDA and its contractors, are presented to provide information concerning the operations and financial position of this operation

  18. CORPORATE SOCIAL REPORTING AS APPENDIX TO FINANCIAL STATEMENT

    Directory of Open Access Journals (Sweden)

    I. Derun

    2015-10-01

    Full Text Available The paper deals with essence and importance of corporate social reporting in the management of business entity management. The study examines several approaches for providing data about economic, ecological and social aspects of the companies. There are approaches of formulating of separated reports as addition to financial statements (for example Value Added Statement, Intellectual Capital Statement and integrated reporting. The article examines positive and negative factors that could significantly influence the implementation process of corporate social reporting for companies in Ukraine and around the world. Principles of corporate social reporting are considered. The research analyzes methodical approaches of preparing of integrating statements for large companies and data needs of stakeholders for making effective management decisions.

  19. 77 FR 33735 - Notice of Issuance of Statement of Federal Financial Accounting Standard 43

    Science.gov (United States)

    2012-06-07

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standard 43 AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice. Board Action... Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standard 43...

  20. 75 FR 18208 - Notice of Issuance of Statement of Federal Financial Accounting Standard 37, Social Insurance...

    Science.gov (United States)

    2010-04-09

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standard 37, Social Insurance: Additional Requirements for Management's Discussion and Analysis and Basic Financial Statements AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice...

  1. 77 FR 26278 - Notice of Issuance of Statement of Federal Financial Accounting Standard 42

    Science.gov (United States)

    2012-05-03

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standard 42 AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice. Board Action... Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standard 42...

  2. 78 FR 2673 - Notice of Issuance of Statement of Federal Financial Accounting Standards 44

    Science.gov (United States)

    2013-01-14

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standards 44 AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice. Board Action... Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standard 44...

  3. 76 FR 28434 - Notice of Issuance of Statement of Federal Financial Accounting Standard 40, Definitional Changes...

    Science.gov (United States)

    2011-05-17

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standard 40, Definitional Changes Related to Deferred Maintenance and Repairs: Amending Statement of Federal Financial Accounting Standard 6, Accounting for Property, Plant, and Equipment AGENCY...

  4. Reporting of Performance Measures in the DOD Agency-Wide Financial Statements

    National Research Council Canada - National Science Library

    2000-01-01

    .... The first report includes our disclaimer of opinion on the FY 1999 financial statements and discusses the adequacy of internal controls and compliance with laws and regulations for the financial statements...

  5. 76 FR 27381 - Agency Information Collection (Financial Statement) Activity Under OMB Review

    Science.gov (United States)

    2011-05-11

    ... . Please refer to ``OMB Control No. 2900-0047.'' SUPPLEMENTARY INFORMATION: Title: Financial Statement, VA... DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900-0047] Agency Information Collection (Financial Statement) Activity Under OMB Review AGENCY: Veterans Benefits Administration, Department of...

  6. 78 FR 59791 - Annual Company-Run Stress Tests at Banking Organizations With Total Consolidated Assets of More...

    Science.gov (United States)

    2013-09-30

    ... bank on its Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) or Consolidated... companies with $50 billion or more in total consolidated assets and any non-bank financial companies... with total consolidated assets of $50 billion or more and nonbank financial companies supervised by the...

  7. Improving of the financial statements forms of credit unions under stakeholders information needs

    Directory of Open Access Journals (Sweden)

    O.L. Bilyachenko

    2016-07-01

    Full Text Available The need for a satisfaction of credit union users’ information requests causes necessity to improve procedure of disclosure of financial information in their financial statements. Analysis of statistics on the activities of credit unions in Ukraine has allowed revealing decrease in their number on the background of organizational consolidation. The study of international financial reporting framework, regulatory documents on accounting and reporting in Ukraine provided an opportunity to identify deficiencies of the disclosure of information about credit unions’ business activities. The result of the study is that the balance sheet and a profit and loss statement for the credit union have been added by the items, which will more fully disclose the information on assets and liabilities, business activities income and costs. In addition, these changes will avoid duplication of such information in the specialized reports provided by credit unions to the National Commission for State Regulation of Financial Services Markets. In general, this will help to protect of credit unions members’ rights and will strengthen the depositors’ and creditors’ confidence in the credit unions activities.

  8. CEA - 2011 annual report, 2011 financial statement

    International Nuclear Information System (INIS)

    2012-06-01

    The first report, available both in French and English, presents the different current programs: low carbon energies and associated fundamental researches, global defence and safety and associated researches, information technologies and associated researches, technologies for health and associated fundamental researches, very large research infrastructures and associated fundamental researches. It then addresses the CEA openness: assessment, teaching and training, research valorisation, awards, and the support to various programs: steering activity by the CEA, human resources, international relationships, communication, risk management, information systems. The last part describes the CEA organisation. The second report presents the different financial and accounting data and tables

  9. Accounting Procedures and Controls Over Financial Data Supporting Selected Other Defense Organizations

    National Research Council Canada - National Science Library

    2000-01-01

    The DoD Agency-Wide financial statements include a reporting entity entitled "Other Defense Organizations," which represents a consolidation of financial information from various Defense organizations...

  10. 17 CFR 210.3-11 - Financial statements of an inactive registrant.

    Science.gov (United States)

    2010-04-01

    ... inactive entity as defined below, the financial statements required by this regulation for purposes of... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of an... COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES...

  11. 12 CFR 563c.1 - Form and content of financial statements.

    Science.gov (United States)

    2010-01-01

    ... ACCOUNTING REQUIREMENTS Form and Content of Financial Statements § 563c.1 Form and content of financial... statements shall: (1) Be prepared and presented in accordance with generally accepted accounting principles... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Form and content of financial statements. 563c...

  12. Financial statements in the function of management decision

    Directory of Open Access Journals (Sweden)

    Mrvaljević Mirjana

    2014-01-01

    Full Text Available In this paper discuss on the role and importance of information which are provided by financial statements in business decision-making is considered. Basically, financial reports represent information basis for making economic / financial decisions for a wide range of users because they represent the key source of information about the financial position of a company at the end of a period, about the achieved results of the company for the period, about the cash flow within the company etc. In accordance with the process of globalisation, international frameworks have regulated the accounting standards which have been created and introduced in order to achieve transparency and uniformity of financial reports of any company, regardless its scope of work and the country where it does its business. The management of a company is aimed at the perception of future events and the flow of values within a company as a result of present decisions, while the accounting is ex post oriented. Nevertheless, the connections between accounting and management of a company are important and multiple because it is the effects of management decisions that are evaluated through financial statements, which are the product of company accounting in which all the business decisions are processed.

  13. FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES

    Directory of Open Access Journals (Sweden)

    Miroslav Škoda

    2012-01-01

    Full Text Available Nowadays, there are many demands coming from all over the world to establish or to secure the possibility of comparability of the information provided in financial statements, and to make this information as reliable and accurate as possible, and therefore making it useful and beneficial for anyone who uses them. These requests demand adjustment of the content of accounted data in every single country, which might have its own accounting standards, to international norms of accounting. Substantial form of the synchronization or unification that attempts to harmonize accounting is the International Accounting Standards / International Financial Reporting Standards (IAS/IFRS, which are mainly focusing on financial statements, and seeking the solutions for problems connected with it. Financial statements, being one of the main concerns of the IAS/IFRS that should lead to a better comparability, higher predication and also to achieve higher utility for users, is getting more and more important. One of the tools that should help achieve these demands in financial statements is called “Fair value”. Despite the intents and plans, however it is still quite difficult to establish, whether its contribution to the improvement of accounting standards is really beneficial. Main aim of this paper is to examine and depict the advantages and disadvantages connected to the fair value, providing the reader with objective information and thorough insight into the problems and benefits of fair value.Partial objectives of this paper are to define the concept of fair value, to provide information about theoretical background and evolution of fair value and to examine and describe the possible future development of fair value.

  14. CONSIDERAŢII PRIVIND GRUPURILE DE SOCIETĂŢI ŞI SITUAŢIILE FINANCIARE CONSOLIDATE

    Directory of Open Access Journals (Sweden)

    Ştefea Petru

    2011-01-01

    Full Text Available The paper presents some general considerations concerning the groups of companies andannual consolidated financial statements. We tried to deal with the concept of group and theconcept of consolidated financial statements. We presented the consolidated financialsettlements at the international and national level, the utility and the objectives of theconsolidated financial statements and finally the advantages and disadvantages of creating agroup and of elaborating the consolidated financial statements. Creating groups is anecessity and also a reality of contemporary economic life. The consolidated financialstatements are useful to all users, from shareholders to employees.

  15. Teaching Consolidations Accounting: An Approach to Easing the Challenge

    Science.gov (United States)

    Murphy, Elizabeth A.; McCarthy, Mark A.

    2010-01-01

    Teaching and learning accounting for consolidations is a challenging endeavor. Students not only need to understand the conceptual underpinnings of the accounting requirements for consolidations, but also must master the complex accounting needed to prepare consolidated financial statements. To add to the challenge, the consolidation process is…

  16. Methodological aspects transparency financial statements of construction companies

    Directory of Open Access Journals (Sweden)

    O. V. Rozhnova

    2016-01-01

    Full Text Available In modern society, in terms of general information and integration of the economies, information is one of the main market products. There is becoming urgent task of improving financial statement transparency for enterprises in this situation. One of the most challenging in improving transparency can be considered the construction industry, because of the pursuit of privacy and a high degree of corruption. The paper analyzes the possible reasons for reducing the level of transparency in the construction industry companies. The paper highlighted the general and particular causes that affect the transparency of financial reporting of construction enterprises. Common causes are relevant for companies in any industry, and private causes show features characteristic of the construction itself. In addition, the paper analyzes the various methods of increasing the transparency used by companies all over the world. The analysis highlighted the internal and external methods for improving the transparency of financial statements and transparency of construction companies. Leadership and employees at the enterprise level providing transparency of financial reporting, and non-financial information about the company, having interest to stakeholders, carry out internal methods. External methods are applied at the macro level as the joint forces of the enterprises of the construction industry to form associations and the state. The analysis also considered the possibility of using these methods by the Russian construction companies and advantages and disadvantages of their application.

  17. Selected problems in auditing the financial statements of credit institutions

    Directory of Open Access Journals (Sweden)

    JOANNA WIELGÓRSKA-LESZCZYŃSKA

    2016-06-01

    Full Text Available The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. Thus, the audit process is complex and requires assessment by the auditor of exogenous and endogenous factors affecting the operation of credit institutions.

  18. Selected problems in auditing the financial statements of credit institutions

    Directory of Open Access Journals (Sweden)

    Joanna Wielgórska-Leszczyńska

    2016-07-01

    Full Text Available The article presents issues deserving special attention in the area of auditing the financial statements ofcredit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impair-ment write-off determined considering the established security. Thus, the audit process is complex and requires assessment by the auditor of exogenous and endogenous factors affecting the operation ofcredit institutions.

  19. REGARDING THE USERS OF FINANCIAL STATEMENTS AND THEIR INFORMATION NEEDS

    OpenAIRE

    Mihaela Luca

    2008-01-01

    In order to satisfy the information needs of users from inside and outside the organizations, accounting elaborated a proper method of generalization and synthesizing of information it produces, which involved the development of some appropriate tools, known as financial statements. For users outside the company, these are often the only source of information available directly from the organization. The knowledge of the interests of different categories of users has an important role in tryi...

  20. FAIR VALUE IN FINANCIAL STATEMENTS – ADVANTAGES AND DISADVANTAGES

    OpenAIRE

    Miroslav Škoda; Peter Bilka

    2012-01-01

    Nowadays, there are many demands coming from all over the world to establish or to secure the possibility of comparability of the information provided in financial statements, and to make this information as reliable and accurate as possible, and therefore making it useful and beneficial for anyone who uses them. These requests demand adjustment of the content of accounted data in every single country, which might have its own accounting standards, to international norms of accounting. Substa...

  1. Impact of Taxes on the Financial Statements prepared under IFRS

    OpenAIRE

    Tydlačková, Ivana

    2011-01-01

    The master's thesis focuses on the impact taxes have on the financial statements prepared under IFRS. The theoretical part of the thesis provides a theoretical background of direct and indirect taxes from different points of view. The brief characteristic of each tax according to a tax theory is completed with the current development and the accounting for the tax. In practical part of the thesis the case of real entity reporting under IFRS as well as under the Czech national legislation is d...

  2. Independent Auditors Report on the Air Force Working Capital Fund FY 2015 and FY 2014 Basic Financial Statements for United States Air Force Agency Financial Report 2015

    Science.gov (United States)

    2015-11-09

    the purposes of Audited Financial Statements (AFS), USTRANSCOM is included with the Other Defense Organizations reporting which is separate from the...basic financial statements appropriate to the circumstances for the purpose of expressing our opinion on the basic financial statements but not...consistent with the purposes authorized, and are recorded in accordance with Federal accounting standards. This statement also requires that financial

  3. IFRS 16 “Leases” – consequences on the financial statements and financial indicators

    Directory of Open Access Journals (Sweden)

    Marian SACARIN

    2017-02-01

    Full Text Available In January 2016, the International Accounting Standards Board (IASB issued IFRS 16 “Leases”, which will replace the current standard IAS 17 “Leases”. IFRS 16, whose application is mandatory for annual periods beginning on or after January 2019, sets out new rules for the recognition and measurement of leases, leading to a change of value for the elements recognized in the financial statements, as well as for the financial indicators calculated based on these. The purpose of this article is to present, based on a comparative analysis of IFRS 16 and IAS 17, the main consequences that the application of IFRS 16 will arise, in respect of the financial statements and the financial indicators determined based on the information provided by these.

  4. Accounting Entries Made in Compiling the FY 2000 Air Force General Funds Financial Statements

    National Research Council Canada - National Science Library

    2001-01-01

    We performed this audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD to provide audited financial statements...

  5. CRITICAL STUDY OF INFORMATIONAL OFFER FOR CONSOLIDATED FINANCIAL SITUATIONS

    Directory of Open Access Journals (Sweden)

    DANIEL GOAGĂRĂ

    2009-01-01

    Full Text Available The accounting treatment for goodwill is far from being accepted, as the constant controversy and contradictions existent between it and the badwill are not yet solved. However, we wonder, in support to all interested groups in Romania, what would be the economic interpretation and perception of this difference? Thereby, if we start our analysis with how the acquisition difference is perceived, we consider appropriate to mention that the difference from the first consolidation can be emphasized if the cost of securities acquisition is compared with the net asset value of the percentage rate at which the securities will entitle.

  6. Department of Education: Status of Financial Management Weaknesses Reported in the Fiscal Year 1999 Financial Statement Audit

    National Research Council Canada - National Science Library

    2000-01-01

    .... The General Accounting Office was asked to: (1) analyze Education's financial management weaknesses in the context of possible program and budgetary implications based on the results of the audit of its fiscal year 1999 financial statements, (2...

  7. Nuclear power plant Isar. Actualized environmental statement 2012 on the consolidated environmental statement 2010

    International Nuclear Information System (INIS)

    2012-01-01

    The actualized environmental statement 2012 for the NPP Isar covers the following issues: Direct environmental aspects: heat dissipation to the environment, water management, radioactive matter release onto the environment, environmental monitoring, waste management, operational materials supply, radioactive materials transport, safety of the nuclear facilities, remote monitoring and information system, environmental protection, communication; indirect environmental aspects; core indicators according EMAS III, development of the environmental targets and programs, reference to the valid environmental regulations, declaration of the environmental consultant.

  8. Federal Energy Regulatory Commission`s fiscal year 1996 financial statement audit

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-14

    This report presents the results of the independent certified public accountants` audit of the Federal Energy Regulatory Commission`s (FERC) financial statements as of September 30, 1996. The auditors have expressed an unqualified opinion on the 1996 statement of financial position and the related statements of operations and changes in net position.

  9. 17 CFR 210.3-01 - Consolidated balance sheets.

    Science.gov (United States)

    2010-04-01

    ... AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE... Statements § 210.3-01 Consolidated balance sheets. (a) There shall be filed, for the registrant and its... registrant's fiscal year and audited financial statements for the most recent fiscal year are not available...

  10. 17 CFR 210.3-05 - Financial statements of businesses acquired or to be acquired.

    Science.gov (United States)

    2010-04-01

    ... section and the pro forma financial information required by § 210.11, such determination may be made by... statements would materially impair an investor's ability to understand the historical financial results of... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of...

  11. FINANCIAL PERFORMANCE ANALYSIS BASED ON THE PROFIT AND LOSS STATEMENT

    Directory of Open Access Journals (Sweden)

    Ludmila PROFIR

    2017-07-01

    Full Text Available Financial performance is often difficult to achieve by economic entities, especially in the current economic context. Successful models of some companies constitute examples of good practice for aspirants. The profit and loss statement is part of the annual reports, is a synthesis accounting document that shows the result of the companies activity and thus measures the firm’s performance during a year. The purpose of this paper is to analyze the impact of the operating result on the financial performance through the net income. The target population of the study was the companies listed and traded on the Bucharest Stock Exchange during 2012-2016. The results of this study showed that the operating result has contributed significantly to the net income, and the companies listed and traded on the Bucharest Stock Exchange have successfully overcome the negative effects of the crisis and the recession.

  12. THE ACCOUNTING TREATMENT OF THE TOURISM UNIT’S FINANCIAL STATEMENTS IN AGREEMENT WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS

    OpenAIRE

    BOGDAN RĂVAŞ

    2011-01-01

    Financial statements should be presented on a going-concern basis unless management intends to liquidate the tourism unit or cease trading. If not presented on a going concern basis, the fact and rationale for not using it should be disclosed. Uncertainties related to events and conditions that cast significant doubt on the tourism unit's ability to continue as a going concern should be disclosed. The Statement of Financial Position provides information about the financial position of the tou...

  13. Sustainability Reporting and Value Relevance of Financial Statements

    Directory of Open Access Journals (Sweden)

    Bambang Sutopo

    2018-03-01

    Full Text Available This study examines whether information about the winners of the Sustainability Reporting Award (SRA contributes to the usefulness of the information in financial statements. This study used a sample consisting of 110 winners of SRA (SRA firms and 110 companies that did not receive SRA (non-SRA firms from 2008 to 2016. The study found that earnings per share (EPS, earnings per share change (EPSC, and book value per share (BVPS are value-relevant information. Results of comparison between SRA firms and non-SRA firms show that the positive association between EPS and stock price (P and the positive association of EPS with stock returns (R for SRA firms are higher than that for the non-SRA firms. In addition, findings of this study indicate that EPSC is positively associated with R when EPSC and R are measured by Indonesian rupiah (IDR instead of by percentage, and the positive association between EPSC and R for the SRA firms is higher than that for the non-SRA firms. Thus, the results are sensitive to measures of the variables. However, this study found that value relevance of BVPS for SRA firms is lower than for non-SRA firms. Implication of this study is that information about the winners of SRA contributes to the usefulness of financial statements, especially the information of EPS and EPSC.

  14. Stewardship Reporting in the DOD Agency-Wide Financial Statements for FY 1998

    National Research Council Canada - National Science Library

    1999-01-01

    ...; heritage assets, stewardship land, and stewardship investments were presented on the financial statements accurately and in accordance with generally accepted accounting standards for Federal agencies...

  15. Compilation of the FY 2000 Navy Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul

    2001-01-01

    ... to the Office of Management and Budget. This is the fifth and final report on our audit work on the FY 2000 Navy Working Capital Fund Financial Statements and related controls and supporting financial data...

  16. 75 FR 48336 - Notice of Issuance of Statement of Federal Financial Accounting Standard 39, Subsequent Events...

    Science.gov (United States)

    2010-08-10

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standard 39, Subsequent Events: Codification of Accounting and Financial Reporting Standards... Programs AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice. Board Action: Pursuant to 31...

  17. 12 CFR 18.5 - Alternative annual disclosure statements.

    Science.gov (United States)

    2010-01-01

    ...'s consolidated financial statements on Form FR Y-9c pursuant to Regulation Y of the Federal Reserve... FINANCIAL AND OTHER INFORMATION BY NATIONAL BANKS § 18.5 Alternative annual disclosure statements. The § 18... to be elected; (b) In the case of a national bank with audited financial statements, by those...

  18. Consolidated supervision of financial institutions and financial market in the Republic of Croatia

    Directory of Open Access Journals (Sweden)

    Bojana Olgić Draženović

    2005-06-01

    Full Text Available The question of regulation and supervision of all parts of financial system is of major importance for any country. In order to protect the interest of the society and to accelerate the economic development, it is necessary to provide adequate legal framework as well as independent supervision institutions. The regulations refer mostly to maintenance of financial stability and consumer protection. The article points out that the structure of the financial sector in the Republic of Croatia is underdeveloped and characterized by domination of the banking sector. Therefore, bank supervision is one of the main tasks of Croatian national bank and all other financial institutions (except banks are regulated by other regulatory institutions. The problems of authority overlapping and insufficient regulation are becoming more complex by the development of financial sector and especially by the deregulation of financial markets. Because of that, it is reasonable to investigate the existing regulatory framework of Croatian financial system concerning its structure and development.

  19. A study on relationship between internal auditing and quality of financial statement

    Directory of Open Access Journals (Sweden)

    Maryam Abulghasemi Komeleh

    2014-09-01

    Full Text Available The primary objective of most financial statements is to provide a concentrated as well as categorized reports on financial performance and flexibility to help decision makers reach suitable financial decisions. This paper presents an empirical investigation to study the relationship between internal auditing and quality of financial statements on selected firms listed on Tehran Stock Exchange. The proposed study selects 140 firms over the period 2008-2012. Using some regression technique, the study has determined that there was a positive and meaningful relationship between firms with internal auditing in their activities and quality of financial statements.

  20. ANDRA's Management report and financial statement December 2008

    International Nuclear Information System (INIS)

    2008-01-01

    This management report indicates the main operation events in the activity of the ANDRA (the French national Agency for radioactive waste management) during 2008, and of its waste storage centres. It comments the evolution of the various characteristic figures (production, personnel, financial result, certification), and reports the evolution of two projects (the HA-MAVL project for the creation of a storage centre for high- and intermediate-level long-life wastes, and the FA-VL project for the creation of a storage centre for low-level long-life wastes). It reviews ANDRA's industrial activity evolution, that is the operation of several storage centres and the activities related to small waste producers and polluted sites. It comments the level and the evolution of the public subside, briefly describes other activities (national inventory of radioactive materials and wastes, activity at the international level), the financing of future nuclear loads, the action for a sustainable development, the prospective evolution for 2009. In a second part, after the financial statement tables, the report comments these financial results. The different authorities are presented and the official auditor's report concludes this document

  1. Financial Statement Analysis in Municipalities and an Application

    Directory of Open Access Journals (Sweden)

    Ali Kablan

    2013-07-01

    Full Text Available Municipalities are compelled to use their resources in a mostefficient manner in order to meet increased demand for services. The regular collection of revenues in municipalities, whilemaking expenditures in  most efficientways depend on the healthy functioning of the budget and accounting and thefinancial control system correspondingly. In is necessary for municipalities tocontinuously control the balance of incomes and expenses, determining andeliminating the negativities in this balance. For this purpose, financialanalyses and management ratios are needed. With the financial analyses made, afinancial control system may be established in a municipality and used formanagement purposes. The importance of this study is that if the organizationsand enterprises belonging to the public can apply the analysis techniques asprofoundly as the private sector organizations and enterprises, thosemunicipalities which continuously produce information through financial controlcan take corrective actions in line with such information, and by determiningout of which items the increases and decreases in revenues and expenses arisethey will take actions in order to decrease expenses and to increase revenues.In addition, it will be possible to apply financial carnets (ration cards topublic organizations and enterprises. For this purpose, sorts of financialanalyses are mentioned in the study, and an application is included in themunicipality of Beylikdüzü for analyzing financial tables in publicorganizations and enterprises which are obtained as a result of accrualsaccounting. In the application, the Balance Sheet and Table of the OperatingResults for the year 2012 are subjected to comparative statements, and topercentage and ratio analyses; and then the results are interpreted

  2. 34 CFR 668.23 - Compliance audits and audited financial statements.

    Science.gov (United States)

    2010-07-01

    ... statements. (a) General—(1) Independent auditor. For purposes of this section, the term “independent auditor... purpose financial statements. (3) Third-party servicers. Except as provided under this part or 34 CFR part... submission requirements. In general, the Secretary considers the compliance audit and audited financial...

  3. Western Area Power Administration. Combined power system financial statements

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-02-26

    This report presents the results of the independent certified public accountants` audit of the Western Area Power Administration`s combined power system statements of assets, Federal investment and liabilities, and the related combined statements of revenues, expenses and accumulated net revenues, and cash flows. The auditors` report on Westerns internal control structure disclosed three new reportable conditions concerning the lack of: (1) a reconciliation of stores inventory from subsidiary ledgers to summary financial information, (2) communication of interest during construction and related adjustments to interest on Federal investment, and (3) a system to prevent and detect power billing errors. None of the conditions were considered to be material weaknesses. Western provided concurrence and corrective action plans. The auditors` report on Western`s compliance with laws and regulations also disclosed two new instances of noncompliance. Western failed to calculate nonreimbursable expenses in accordance with the Grand Canyon Protection Act and had an unexplained difference in gross Federal investment balances used to calculate interest on Federal investment. Western provided concurrence and corrective action plans for the instances.

  4. Financial statements quality through accountant’s professional ethics projection

    Directory of Open Access Journals (Sweden)

    S.L. Bezruchuk

    2017-12-01

    Full Text Available Today, the requirements for accounting information are changing, it causes the need to improve the quality of financial statements made by accountants. One of the areas for improving the quality of reporting should be to study the issues concerning the ethics of accountants themselves and their ethical standards. The paper investigates the factors affecting the ethical component of the accounting profession, and the main contradictions that arise between the requirements of the persons providing the information and the requirements of the persons who need it. It has been established that all the development and research should be carried out on the basis of two types of accountants' responsibility to the society (legal and social as well as on two levels (at the level of the state and at the level of the economic entity. In this regard, the study defines the stages of regulation of the ethical principles of accountants, and suggestions on the application and implementation of ethical norms which will improve the quality of financial reporting through their application.

  5. ITER Organization - 2012 Annual Report, 2012 Financial Statements

    International Nuclear Information System (INIS)

    2013-01-01

    In its first part, this report gives an overview of the main activities and events regarding the ITER organization, the ITER project baseline, the construction of seismic foundations, the licensing decree in France, the procurement arrangements, the manufacturing of the ITER vacuum vessel, the research and development for prototype development, the management of member contributions in France, the creation of new positions as far as staffing is concerned. The second part presents the various highlights for the year and by department: Office of the Director-General, Legal Affairs, International Audit, ITER Council Secretariat, Bureau of International Cooperation, Department for ITER Project (Directorate for Central Integration and Engineering, Directorate for Tokamak, Directorate for CODAC, Heating and Diagnostics, Directorate for Buildings and Site Infrastructure, Directorate for Central Engineering and Plant, Directorate for Plasma Operation), Department for Safety Quality and Security, Department for Administration). The next parts contain tables and charts which present staffing and financial data, presentations of procurement highlights and data for domestic agencies (China, Europe, India, Japan, Korea, Russia, USA) in terms of R and D and manufacturing, of contracts. The last part presents and comments the financial statements for 2012

  6. GOOD CORPORATE GOVERNANCE MECHANISMS IN MEASURING QUALITY OF FINANCIAL STATEMENTS AND TRANSFER INVESTOR LEVELS

    OpenAIRE

    Hani, Syafrida; UMSU, Hafsah

    2017-01-01

    ABSTRACTThis study aims to develop a theory of determining the quality of financial statement reports that can increase  investor  confidence  in  financial  information  presented  by management.  This  research would like to find the role of good corporate governance  in improving the quality of financial statements as measured by accounting conservatism and earnings management, then it will be seen how the quality ability of financial statement can influence investor confidence level. The ...

  7. Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Naval Sea Cadet Corps for 1998 and 1997

    National Research Council Canada - National Science Library

    2000-01-01

    ... to: present the corporation's assets and liabilities and reasonable detail on the corporation's income and expenses in annual financial statements, obtain an annual financial audit by an independent...

  8. Defense Finance and Accounting Service Work on the Navy Defense Business Operations Fund FY 1995 Financial Statements

    National Research Council Canada - National Science Library

    lane, F

    1996-01-01

    ... Financial Statements of the Navy Defense Business Operations Fund. We also planned to determine whether FY 1995 ending balances reported by DFAS Cleveland Center are usable as beginning balances for FY 1996 financial statements...

  9. Internal Controls and Compliance with Laws and Regulations for the DOD Military Retirement Trust Fund Financial Statements for FY 1995

    National Research Council Canada - National Science Library

    1996-01-01

    ... No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993. In addition, we assessed the internal controls and compliance with laws and regulations related to the financial statements...

  10. Internal Controls and Compliance with Laws and Regulations for the DOD Military Retirement Trust Fund Financial Statements for FY 1996

    National Research Council Canada - National Science Library

    Lane, F

    1997-01-01

    ... No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993. In addition, we assessed the internal controls and compliance with laws and regulations related to the financial statements...

  11. THE ACCOUNTING TREATMENT OF THE TOURISM UNIT’S FINANCIAL STATEMENTS IN AGREEMENT WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS

    Directory of Open Access Journals (Sweden)

    BOGDAN RĂVAŞ

    2011-01-01

    Full Text Available Financial statements should be presented on a going-concern basis unless management intends to liquidate the tourism unit or cease trading. If not presented on a going concern basis, the fact and rationale for not using it should be disclosed. Uncertainties related to events and conditions that cast significant doubt on the tourism unit's ability to continue as a going concern should be disclosed. The Statement of Financial Position provides information about the financial position of the tourism unit and it should distinguish between major categories and classifications of assets and liabilities current or noncurrent distinction. Departure from the requirements of an IFRS is allowed only in the extremely rare circumstance in which the application of the IFRS would be so misleading as to con-flict with the objectives of financial statements. In such circumstances, the tourism unit should disclose the reasons for and the financial effect of the departure from the IFRS.

  12. An evaluation of the Navy Resale System's operating and financial statements

    OpenAIRE

    Barnett, Michael Stephen

    1984-01-01

    Approved for public release; distribution unlimited This thesis contains an evaluation of the Navy Resale System financial and operating statements used to manage the sales activities from the headquarters, region, main, and branch levels. Navy Resale System (NRS) statements are compared to the National Retail Merchants Association's (NRMA) statements presented in the Retail Accounting Manual and to statements provided by major retailers. From the results of the evalua...

  13. The Analysis of Financial Statements to Assess the Performance of PT. Bank Perkreditan Rakyat Nusa Utara

    OpenAIRE

    Mawikere, Lidia M.; Wongkar, Yessi Devika

    2015-01-01

    BPR is a bank conducting conventional business and based on sharia their activities do not provide services in payment traffic. This study aims to determine the effect of financial statements in assessing the financial performance at PT. Bank BPR Nusa Utara Manado. The method used is descriptive, testing is done using the ratio of liquidity, solvency and profitability in the financial statements for 2012-2014. The results shows the performance of BPR assessed on bank liquidity ratio in 2014 ...

  14. Navy Reporting of Financing Payments for Shipbuilding on the Financial Statements

    Science.gov (United States)

    2009-03-26

    Navy Reporting of Financing Payments for Shipbuilding on the Financial Statements Report No. D-2009-065 March 26, 2009 Report ...Financing Payments for Shipbuilding on the Financial Statements ( Report No. 0-2009-065) We are providing this final report for review and comment. The...Secretary of the Navy ( Financial Management and Comptroller) did not provide comments on the draft report ; however, we considered comments from the

  15. Characteristics of companies with a higher risk of financial statement fraud: Five case studies

    OpenAIRE

    Elda du Toit; Frans N.S. Vermaak

    2015-01-01

    Various characteristics can be observed in the financials and the behaviour of companies engaging in accounting irregularities. This article explores the usefulness of such characteristics by analysing the financial statements of five companies accused of alleged accounting irregularities. The analysis involves quantitative and qualitative analyses for each of the companies, compared to a relevant control sample. The quantitative study consisted of financial statement analyses. The qualitativ...

  16. Analysis of Possibilities of Detectnig the Manipulation of Financial Statements in Terms of the IFRS and Czech Accounting Standards

    OpenAIRE

    Zita Drábková

    2015-01-01

    The main objective of financial statements is to give information. The diversity of interests and objectives of individual groups of users and creators of financial statements presents the risk of manipulation of financial statements in the context of true and fair view as defined in the national accounting legislation. The paper is concerned with the different possibilities of detecting the manipulation of financial statements in terms of the Czech Accounting Standards and IFRS. The paper an...

  17. DOD Financial Management: Greater Visibility Needed to Better Assess Audit Readiness for Property, Plant, and Equipment

    Science.gov (United States)

    2016-05-01

    internal controls, processes, and systems. These challenges are highlighted by DOD’s inability to prepare auditable financial statements . The...audited financial statements . However, long-standing and pervasive financial management weaknesses have precluded DOD from being auditable. The...actions needed to ensure that its consolidated financial statements are audit ready by September 30, 2017. The Senate report accompanying the NDAA

  18. Military Traffic Management Command Financial Reporting of Property, Plant, and Equipment

    National Research Council Canada - National Science Library

    1998-01-01

    The overall audit objective was to determine whether the property, plant, and equipment accounts in the FY 1996 Defense Business Operations Fund consolidated financial statements were presented fairly...

  19. 75 FR 61563 - Proposed Agency Information Collection Activities; Comment Request-Thrift Financial Report...

    Science.gov (United States)

    2010-10-05

    ... present ``separately on the face of the statement of financial position: a. Assets of a consolidated... Activities; Comment Request--Thrift Financial Report: Schedules SC, SO, VA, PD, LD, CC, CF, DI, SI, FS, CCR... changes to the Thrift Financial Report (TFR), Schedule SC--Consolidated Statement of Condition, Schedule...

  20. Annual Financial Statements as Way of Communicate the Accounting Information in the Economic Environment

    OpenAIRE

    Ovidia DOINEA

    2008-01-01

    The accounting synthesis documents represents an informing social system created for the satisfaction of the informing user’s needs, needs determined by political and social purposes. The financial informing policies described by the annual synthesis accounting documents architecture are different in accordance with their needs. The official documents for presenting the financial – economical situation are the annual financial statements.

  1. 78 FR 26651 - Notice of Proposed Information Collection; Comment Request: Financial Statement of Corporate...

    Science.gov (United States)

    2013-05-07

    ... Information Collection; Comment Request: Financial Statement of Corporate Application for Cooperative Housing... submission of responses. This Notice also lists the following information: Title of Proposal: Financial... information to determine feasibility, mortgagor/contractor acceptability as well as the financial data, costs...

  2. SUBSEQUENT EVENTS AND THEIR IMPORTANCE IN DRAWING UP ANNUAL FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Daniel Botez

    2014-07-01

    Full Text Available Subsequent events, called so because they are recorded after the closing date of financial year, must be recorded and taken into account in drawing up the financial statements. Some of them can fundamentally changing financial position of the entity or provide information to users absolutely necessary for their decisions. Accounting treatment in this situation is provided for by International Standard of Accounting ISA 10 “Events after the Reporting Period”, whose provisions are taken to a large extent in national accounting standards. For financial auditor, investigating how the subsequent events are presented in the financial statements shall constitute a procedural obligation. Auditor`s procedure is based on the provisions of an specific International Standard on Auditing, ISA 560 “Subsequent events”. He shall be required to satisfy itself that in the financial statements shall be presented all treatment and appropriate information concerning subsequent events.

  3. Consolidated techniques for groups of enterprises with complex structure

    Directory of Open Access Journals (Sweden)

    Cristina Ciuraru-Andrica

    2009-12-01

    Full Text Available The preparation and disclosure of the financial statements of a group of enterprises involves some consolidation techniques. The Literature presents many techniques, but in practice are used two of them. They will be described first of all in a particular manner and after that in a comparative one. The group of entities can choose one of these techniques, the final result (the consolidated financial statements being the same, whatever the option.

  4. Alaska Power Administration combined financial statements, schedules and supplemental reports, September 30, 1996 and 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-04-01

    This report presents the results of the independent certified public accountants` audit of the Department of Energy`s Alaska Power Administration`s (Alaska) financial statements as of September 30, 1996. The auditors have expressed an unqualified opinion on the 1996 combined statements of assets, Federal investment and liabilities, and the related combined statements of revenues, expenses and accumulated net revenues, and cash flows. The auditors` report on Alaska`s internal control structure disclosed no reportable conditions that could have a material effect on the financial statements. The auditors also considered the overview and performance measure data for completeness and material consistency with the basic financial statements, as noted in the internal control report. The auditor`s report on compliance with laws and regulations disclosed no instances of noncompliance by Alaska.

  5. A support vector machine approach to detect financial statement fraud in South Africa: A first look

    CSIR Research Space (South Africa)

    Moepya, SO

    2014-04-01

    Full Text Available Auditors face the difficult task of detecting companies that issue manipulated financial statements. In recent years, machine learning methods have provided a feasible solution to this task. This study develops support vector machine (SVM) models...

  6. Accounting Entries Made in Compiling the FY 2000 Air Force General Funds Financial Statements

    National Research Council Canada - National Science Library

    2001-01-01

    ... to the Office of Management and Budget. This audit is one in a series of audits of accounting entries made by the Defense Finance and Accounting Service in preparing the FY 2000 financial statements for DoD...

  7. Compilation of the FY 2000 Army Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    2001-01-01

    .... The FY 2000 Army Working Capital Fund Financial Statements reported assets of $12.7 billion and liabilities of $754 million. Net program costs for the Army Working Capital Fund were $3.6 billion.

  8. Principal Financial Statements of the Defense Security Assistance Agency-FY 1992

    National Research Council Canada - National Science Library

    Hendricks, Nancy

    1993-01-01

    The primary objective of the audit was to determine whether the Principal Financial Statements for FY 1992 were presented fairly in accordance with generally accepted accounting principles for Federal entities...

  9. 78 FR 48149 - Proposed Information Collection; Comment Request; Statement of Financial Interests, Regional...

    Science.gov (United States)

    2013-08-07

    ... DEPARTMENT OF COMMERCE National Oceanic and Atmospheric Administration Proposed Information Collection; Comment Request; Statement of Financial Interests, Regional Fishery Management Councils AGENCY... information collections, as required by the Paperwork Reduction Act of 1995. DATES: Written comments must be...

  10. 75 FR 20810 - Proposed Information Collection; Comment Request; Statement of Financial Interests, Regional...

    Science.gov (United States)

    2010-04-21

    ... DEPARTMENT OF COMMERCE National Oceanic and Atmospheric Administration Proposed Information Collection; Comment Request; Statement of Financial Interests, Regional Fishery Management Councils AGENCY... information collections, as required by the Paperwork Reduction Act of 1995. DATES: Written comments must be...

  11. Increasing the detection of minority class instances in financial statement fraud

    CSIR Research Space (South Africa)

    Moepya, Stephen O

    2017-04-01

    Full Text Available Financial statement fraud has proven to be difficult to detect without the assistance of data analytical procedures. In the fraud detection domain, minority class instances cannot be readily found using standard machine learning algorithms. Moreover...

  12. The Impact of Lease Capitalisation on Financial Statements and Key Ratios: Evidence from Australia

    Directory of Open Access Journals (Sweden)

    Karen Wong

    2015-09-01

    Full Text Available The IASB/FASB exposure draft ED 2013 on lease accounting, if introduced as a standard, will fundamentally change the way that leases are accounted for and reported in financial statements. This paper seeks to provide information on the proposed new lease accounting rules and to illustrate their impact on financial statements and financial ratios of leading Australian companies. The study follows the method of constructive capitalisation developed by Imhoff et al. (1991 to demonstrate the potential impact of the new rules on financial ratios and financial statements. The results show that financial statements will change significantly when all lease assets and liabilities are capitalised. The study finds that lease capitalisation will have a material impact on the reported numbers in the balance sheet and income statement and result in significant changes to return and leverage ratios. A comparison between positive and negative income subgroups also shows significant changes in the financial ratios of both these subgroups. This is the first Australian study that serves to provide computations of the effects on financial reporting changes in lease accounting standard. The results have practical implications for corporate managers and accounting practitioners in planning and formulating strategies to lessen the impact of this important change in lease accounting.

  13. VALUE RELEVANCE OF GROUP FINANCIAL STATEMENTS BASED ON ENTITY VERSUS PARENT COMPANY THEORY: EVIDENCE FROM THE LARGEST THREE EUROPEAN CAPITAL MARKETS

    Directory of Open Access Journals (Sweden)

    Müller Victor-Octavian

    2012-07-01

    Full Text Available Financial statementsn#8217; main objective is to give information on the financial position, performance and changes in financial position of the reporting entity, which is useful to investors and other users in making economic decisions. In order to be useful, financial information needs to be relevant to the decision-making process of users in general, and investors in particular. Regarding consolidated financial statements, the accounting theory knows four perspectives (theories on which the preparation of those statements is based, namely, the proprietary theory, the parent company theory, the parent company extension theory and the entity theory (Baxter and Spinney, 1975. Of practical importance are especially the parent company extension perspective and the entity perspective. The IASB and FASB decided (within an ED regarding the Improvement of the Conceptual Framework that consolidated financial statements should be presented from the perspective of the group entity, and not from the perspective of the parent-company. However, this support for the entity theory is to our knowledge not backed by empirical findings in the academic literature. Therefore, in our paper we set to contribute with empirical arguments to finding an actual answer to the question about the superior market value relevance of one of the two concurrent perspectives (theories. We set to carry out an empirical association study on the problem of market value relevance of consolidated financial statements based on the entity theory respectively on the parent company (extension theory, searching for an answer to the above question. In this sense, we pursued an analysis of market value relevance of consolidated accounting information (based on the two perspectives of listed entities between 2003-2008 on the largest three European Stock Exchanges (London, Paris and Frankfurt. The obtained results showed that a n#8222;restrainedn#8221; entity perspective, which would combine

  14. Areva - Half year financial report June 30, 2009

    International Nuclear Information System (INIS)

    2009-01-01

    This half-year financial report contains statements on the objectives, prospects and growth areas for the AREVA group. It gives a view of the net worth, the financial position and the income of the company and all the companies included in consolidation. It presents the major events that occurred during the first six months of the fiscal year, of their effect on the financial statements and of the main transactions between related parties. It gives a description of the main risks and main uncertainties for the remaining six months of the financial year. Content: 1 - Half-year business report: Significant events, Summary data, Segment reporting, Backlog, Income statement, Review by division, Cash flow, Balance sheet items, Events subsequent to closing, Outlook; 2 - Statutory auditors' report on the financial information for the 2009 half-year - period January 1 to June 30, 2009: Condensed consolidated financial statements at June 30, 2009, Consolidated income statement, Consolidated comprehensive income, Consolidated balance sheet, Consolidated cash flow statement, Consolidated statement of changes in equity, Segment reporting, Notes to the consolidated financial statements for the period ending June 30, 2009

  15. Are IFRS Value-Relevant for Separate Financial Statements? Evidence from the Italian Stock Market

    OpenAIRE

    Vera Palea

    2012-01-01

    Using a sample of Italian firms, I nvestigate the value-relevance of separate financial statements as well as the effects of adopting IFRS. I find that separate financial statements provide investors with useful information, regardless of the accounting standard set used for their preparation. I also document significant differences in value‐relevance between Italian GAAP and IFRS, with IFRS being more informative than Italian GAAP. However,while results are robust for book value, they provid...

  16. APPLICATION OF INTERNAL FINANCIAL STATEMENTS IN BUDGETARY USER MANAGEMENT IN CROATIA

    OpenAIRE

    Vesna Vašiček; Verica Budimir; Mirjana Hladika

    2011-01-01

    The subject of this paper is to investigate the level of use of the internal financial statements of budgetary users in their management process. The main objective of this paper is to determine the importance of internal financial statements prepared according to the specific requirements of managers in decision making and budgetary user management. Another goal of this paper is to assess the implications of using a wide range of accounting information on efficiency of budgetary users manag...

  17. Factors that determine the fees for audit NGOs financial statements in Kosovo

    OpenAIRE

    Bahtijar Berisha; Luan Vardari; Bekim Berisha

    2016-01-01

    The purpose of this paper is to identify, analyze and evaluate the potential factors that influence the determinants of the fee/price of the NGOs financial statements audit in Kosovo based and tested, generally, traditional determinants and known in economic literature on this issue. In our study, we have chosen the NGO sector in Kosovo to investigate the factors that determine the fee/price of their financial statements, because the non-governmental organizations are among the first organiza...

  18. 75 FR 20363 - Notice of Issuance of Statement of Federal Financial Accounting Standard 38, Accounting for...

    Science.gov (United States)

    2010-04-19

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standard 38, Accounting for Federal Oil and Gas Resources AGENCY: Federal Accounting Standards... is hereby given that the Federal Accounting Standards Advisory Board (FASAB) has issued Statement of...

  19. The influence of publication of financial statements, risk of takeover and financial position of the auditee on public auditors' unethical behaviour

    NARCIS (Netherlands)

    van Dijk, M

    2000-01-01

    This study examines the effects of publication of financial statements, the risk of a takeover of the auditee and the auditee's financial position on auditors' willingness to allow material errors in financial statements in case of management pressure. The results show that all factors significantly

  20. The application of interactive worksheet to improve vocational students' ability to write financial statements

    Science.gov (United States)

    Larasati, Aisyah; Hajji, Apif Miftahul

    2017-09-01

    Vocational students in Culinary Department is required to mastering the ability on managing restaurant. One of the responsibility of the students while operating a training restaurant is writing financial statements. Most of the time, writing financial statements is the hardest part for students to be conducted in a training restaurant since the students have studied limited theory/courses on that topic. This research aims to explore the improvement of students' ability to write financial statements after the application of interactive worksheet by asking them to solve financial statements case study. This research is an experimental research. Three groups of samples are used in this research, in which each of the group consists of 74 students. The first group consists of the students who solve the case study without using any software/application, the second group solve the case study by using Microsoft excel, and the third group solve the case study by using the interactive worksheet application. The results show that the use of interactive worksheet significantly improve the students ability to solve the financial statement case study either in term of accuracy or time needed to write the financial statement.

  1. Mekanisme Corporate Governance dan Kecurangan Laporan Keuangan [Mechanisms of Corporate Governance and Financial Statement Fraud

    Directory of Open Access Journals (Sweden)

    Fitri Ismiyanti

    2015-09-01

    Full Text Available The purpose of this research is to examine factors that may affect fraud on financial statements that could encourage the emergence of corruption by management. This research uses banks as an industry sample because the banking industry is highly regulated and should report their financial statement to a central bank. Meanwhile, banks still frequently have fraudulent financial statements. Good corporate governance mechanisms indicated that banks have the capability to detect fraud in financial statements. This research focuses on testing factors that may affect the financial statements fraud which lead to the corruption of management. The data used in this research is financial statement data. Corporate governance mechanisms tested in this study are the number of commissioners, percentage of independent directors, number of commissioners meeting, percentage of largest share ownership, managerial ownership, long tenure of commissioners, and type of auditor. This research found that the number of commissioners and managerial ownership affects management's fraud, while the number of independent directors, the number of commissioners meeting, a long tenure managing director, large share ownership, and the type of auditor has no effect on fraud.

  2. APPLICABILITY OF CONSOLIDATED TECHNIQUES IN THE VIEW OF ROMANIAN ACCOUNTING REGULATIONS

    Directory of Open Access Journals (Sweden)

    Cristina Rosu

    2016-06-01

    Full Text Available The accounting regulations are more and more interested in groups of companies. In some cases, these regulations require for preparing the consolidated financial statements. This is the task of the parent company who keeps the consolidated accounts. To accomplish its goals, the consolidated accounting uses a couple of, so-called, consolidation techniques. These are applied in the case of groups of companies with a complex structure. Their goal is to elaborate the consolidated financial statements using a set of methods and empirical skills. In this article we synthetize and apply the consolidation techniques in the view of Romanian accounting regulations. The Romanian practice has revealed, especially, two techniques: one based on direct consolidation and another one based on multiple levels (phased consolidation. Therefore, this work regards only the technical side of consolidated accounting, accounting records being evaded. Furthermore, we focus only on the preparation of the consolidated balance sheet in the case of some hypothetical groups of companies.

  3. An Effective Financial Statements Fraud Detection Model for the Sustainable Development of Financial Markets: Evidence from Taiwan

    Directory of Open Access Journals (Sweden)

    Chyan-long Jan

    2018-02-01

    Full Text Available This study aims to establish a rigorous and effective model to detect enterprises’ financial statements fraud for the sustainable development of enterprises and financial markets. The research period is 2004–2014 and the sample is companies listed on either the Taiwan Stock Exchange or the Taipei Exchange, with a total of 160 companies (including 40 companies reporting financial statements fraud. This study adopts multiple data mining techniques. In the first stage, an artificial neural network (ANN and a support vector machine (SVM are deployed to screen out important variables. In the second stage, four types of decision trees (classification and regression tree (CART, chi-square automatic interaction detector (CHAID, C5.0, and quick unbiased efficient statistical tree (QUEST are constructed for classification. Both financial and non-financial variables are selected, in order to build a highly accurate model to detect fraudulent financial reporting. The empirical findings show that the variables screened with ANN and processed by CART (the ANN + CART model yields the best classification results, with an accuracy of 90.83% in the detection of financial statements fraud.

  4. Gaz de France interim financial report 2007

    International Nuclear Information System (INIS)

    2007-01-01

    This financial report contains the unaudited condensed financial statements of Gaz de France Group for the first half ended June 30, 2007, which were reviewed by the audit committee on August 27, 2007 and by the board of directors at its meeting on August 28, 2007. It includes forward-looking statements concerning the objectives, strategies, financial position, future operating results and the operations of Gaz de France Group. These statements reflect the Group's current perception of its activities and the markets in which it operates, as well as various estimates and assumptions considered to be reasonable. Content: interim management report (highlights of the first half of 2007, revenues and results for the period, financial structure, data on outstanding stock, outlook); interim consolidated financial statements (consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows, recognized income and expenses, statements of changes in shareholders' equity, note to the consolidated financial statements); statement by the person responsible for the interim financial report; statutory auditors' report. (J.S.)

  5. Financial Statement Opinion Audit Guide for Texas Public Community Colleges, 1999.

    Science.gov (United States)

    Texas State Auditor's Office, Austin.

    This document, prepared by the Texas State Auditor's Office, offers detailed guidelines for conducting a financial audit of community colleges in Texas. Its purpose is to assist governing boards and college management in ensuring that their colleges are receiving high-quality opinion audits on annual financial statements. The guide includes the…

  6. Applying Department of Defense Financial Statement Guidelines to the Naval Postgraduate School

    National Research Council Canada - National Science Library

    Flannery, Robert

    2002-01-01

    ... by the Department of the Navy's primary accounting system. This thesis also evaluates the capabilities of the Standard Accounting and Reporting System (STARS), as it pertains to NPS, and how its reports can be used to create the necessary financial statements described in the financial management regulations for the federal government.

  7. 13 CFR 107.630 - Requirement for Licensees to file financial statements with SBA (Form 468).

    Science.gov (United States)

    2010-01-01

    ... Accounting Standards and Financial Reporting Requirements for Small Business Investment Companies. (d) Where... financial statements with SBA (Form 468). 107.630 Section 107.630 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION SMALL BUSINESS INVESTMENT COMPANIES Recordkeeping, Reporting, and Examination...

  8. 78 FR 44191 - Proposed Collection of Information: Annual Financial Statement of Surety Companies-Schedule F

    Science.gov (United States)

    2013-07-23

    ... DEPARTMENT OF THE TREASURY Fiscal Service Proposed Collection of Information: Annual Financial... agencies to take this opportunity to comment on a continuing information collection. By this notice, the Bureau of the Fiscal Service solicits comments concerning the Form FMS-6314 ``Annual Financial Statement...

  9. A Hybrid Approach of Stepwise Regression, Logistic Regression, Support Vector Machine, and Decision Tree for Forecasting Fraudulent Financial Statements

    Directory of Open Access Journals (Sweden)

    Suduan Chen

    2014-01-01

    Full Text Available As the fraudulent financial statement of an enterprise is increasingly serious with each passing day, establishing a valid forecasting fraudulent financial statement model of an enterprise has become an important question for academic research and financial practice. After screening the important variables using the stepwise regression, the study also matches the logistic regression, support vector machine, and decision tree to construct the classification models to make a comparison. The study adopts financial and nonfinancial variables to assist in establishment of the forecasting fraudulent financial statement model. Research objects are the companies to which the fraudulent and nonfraudulent financial statement happened between years 1998 to 2012. The findings are that financial and nonfinancial information are effectively used to distinguish the fraudulent financial statement, and decision tree C5.0 has the best classification effect 85.71%.

  10. Three Types of Accounting Policies Reflected in Financial Statements. Case Study for Romania

    Directory of Open Access Journals (Sweden)

    MARIANA GURĂU

    2014-05-01

    Full Text Available The objective of financial statements is to give a true and fair view of financial position and of the performance, a true and fair view which will be useful for a wide range of users to take economic decisions. Accounting policies choice involves setting options that generate the best financial and accounting information. The best information must be in agreement with the most accurate image of financial position, performance and changes in financial position and performance. The present paper intends to present three different accounting policies used for the same situations and the results of their implementation. Starting question is: which of the results are the true and fair view?

  11. Value relevance and reliability of goodwill and intangibles on financial statements: the case of Istanbul Stock Exchange

    OpenAIRE

    Gümrah, Ümit; Adiloğlu, Burcu

    2012-01-01

    Failure in reflecting the impact of intangibles on financial statements on the current and future market value of the company leads an investor that financial statements are insufficient to present an unbiased (true and fair) view of the firm's financial position. In that context the aim of this study is to examine financial reporting reliability of goodwill and intangibles and value relevance of financial reports. To observe the effects of accounting variables on market value of equity ...

  12. THE AUDIT OF FINANCIAL STATEMENTS PREPARED BY THE BENEFICIARIES OF EU GRANT

    Directory of Open Access Journals (Sweden)

    Danut Rada

    2013-12-01

    Full Text Available The patrimonial economic entities - public institutions or economic agents, beneficiaries of EU grants, are required to maintain separate accounts situations of the use of these financial resources and also to prepare financial statements in which to be reflected the fees occurred by implementing of projects. The audit of these financial statements is specific and is based on the provisions of international audit standards ISRS 4400 “international standard for related services” and ISAE 3000 “international standard for certification measures”. In some cases, considering the request of the audit beneficiary, can be applied the provisions of ISA 800, International Audit Standard “Special Considerations-Audit of financial statements prepared in accordance with special purpose frameworks”.

  13. Presentation of Financial Statements According to IPSAS - a Challenge for Professional Accountants

    Directory of Open Access Journals (Sweden)

    Carmen Cretu

    2011-05-01

    Full Text Available The International Public Sector Accounting Standards (IPSAS is an important step in public sectoraccounting reform. Problems arising in the context of adopting a common language through IPSAS aremultiple and not easy to prove their usefulness, advantages and disadvantages of using them, so aim will bethe countries' agreement to accept and adopt these regulations. The preparation of financial statements is acomplex process of aggregating data to form economic and financial indicators. Content and preparation ofthe financial statements differ by type of institution, according to their kinds, depending on how their fundingand business profile. The financial statements of public institutions are particularly broad, complex andlengthy, and the information it provides can often be interpreted only by the professional accountant. Theprofessional accountant is the only one capable of ensuring providing appropriate information to users thatthey base their decisions on the allocation of funds.

  14. THE COMPANY ACCOUNTING EVALUATION – PRELIMINARY PHASE OF THE PROPER ANALYSIS OF FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Doina Pacurari

    2008-12-01

    Full Text Available The problem that the accounting information do not always reflect the economic reality may affect the analysis and forecast based on financial statements. This is due both to the accrual accounting limitations and to the fact that this type of accounting allows the result management. In spite of some disadvantages, the accrual accounting is considered superior to cash accounting in measuring the performances and determining financial position as well as in the predicting of future cash flow. In order to limit the negative effects on the results of analysis and forecast based on financial statements, the analists should evaluate the enterprise accounting and if necessary adjust the financial statements so they reflect the economic reality.

  15. Financial Statements of the Defense Logistics Agency Supply Management Division of the Defense Business Operations Fund (Defense Fuel Supply Center Financial Data) For FY 1992

    National Research Council Canada - National Science Library

    Young, Shelton

    1993-01-01

    The primary objective of the audit was to determine whether DFSC financial data included in the Division's financial statements for FY 1992 were presented fairly in accordance with generally accepted...

  16. The Consolidated Net Worth of Private Colleges. Recommendation of a Model.

    Science.gov (United States)

    Jenny, Hans H.

    One of several essential tools for assessing how the financial health of educational institutions is evolving is the Consolidated Net Worth Statement. This essay explores various aspects of conventional "funds" balance sheets and compares them with the Consolidated Net Worth. Emphasis is placed on how the Consolidated Net Worth Statement…

  17. 78 FR 42521 - Notice of Issuance of Statement of Federal Financial Accounting Standards 45 and Scheduled Public...

    Science.gov (United States)

    2013-07-16

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standards 45 and Scheduled Public Hearing AGENCY: Federal Accounting Standards Advisory Board... given that the Federal Accounting Standards Advisory Board (FASAB) has issued Statement of Federal...

  18. UTILITY OF ANNUAL FINANCIAL STATEMENTS IN THE MANAGEMENT PROCESS

    Directory of Open Access Journals (Sweden)

    PUICAN LILIANA

    2015-07-01

    Full Text Available Process knowledge of the financial situation of the economic entity presupposes the use of analysis and synthesis, as indispensable tools of investigation. Financial management of the economic entity have to belong to the basic role in strategic financial decisions that would solve the problem of effective management of the process optimal growth, balanced and proportionate entity. That is why it becomes necessary and imperative objective analysis of the implications of the current financial management in economic entities familiarize managers with the basic tools with which they operate, acquiring knowledge about planning and financial control, evaluation techniques of investment projects, about how to conduct financial and economic diagnosis and management control of the entity, the key issues in its orientation towards performance.

  19. TRADITIONAL ACTIVITY INDICATORS IN THE FUNCTION OF DETERMINATION OF MATERIAL MISSTATEMENT IN THE FINANCIAL STATEMENTS OF THE COMPANIES

    OpenAIRE

    Gabrić, Dragan Gabrić

    2017-01-01

    The financial statements of general purpose are important source of information for purpose of business decision-making. Therefore, it is important to present financial statements fairly and faithfully without material misstatement. The subject of this paper is to explore the impact of traditional indicators of activity on the determination of material misstatements in the financial statements. The main objective of this research is to create a model of an impact of the traditional indicators...

  20. Managerial Objectives of the Annual Financial Statements. True and Fair View or „Users, Be Careful!”

    OpenAIRE

    Alina Teodora Ciuhureanu; Nicolae Balteş; Hortensia Gorski

    2009-01-01

    The financial statements represent the less expensive and the most widely spread managerial communication method. Starting from this aspect, the paper shows the managerial usefulness of the information offered by the financial statements. But, in order to take reality, and not „creativity” based decisions, the financial statements must offer a true and fair view of the company, the managers’ opinion regarding this matter being captured, through a selective research.

  1. 12 CFR 223.32 - What rules apply to financial subsidiaries of a member bank?

    Science.gov (United States)

    2010-01-01

    ... financial subsidiary. If a financial subsidiary is consolidated with its parent member bank under GAAP, the... equal to the carrying value of the securities on parent-only financial statements of the member bank... bank's parent-only GAAP financial statements is $500. The member bank initially must value the...

  2. Detection of fraudulent financial statements using the hybrid data mining approach.

    Science.gov (United States)

    Chen, Suduan

    2016-01-01

    The purpose of this study is to construct a valid and rigorous fraudulent financial statement detection model. The research objects are companies which experienced both fraudulent and non-fraudulent financial statements between the years 2002 and 2013. In the first stage, two decision tree algorithms, including the classification and regression trees (CART) and the Chi squared automatic interaction detector (CHAID) are applied in the selection of major variables. The second stage combines CART, CHAID, Bayesian belief network, support vector machine and artificial neural network in order to construct fraudulent financial statement detection models. According to the results, the detection performance of the CHAID-CART model is the most effective, with an overall accuracy of 87.97 % (the FFS detection accuracy is 92.69 %).

  3. Compilation of the FY 1998 Army General Fund Financial Statements at the Defense Finance and Accounting Service Indianapolis Center

    National Research Council Canada - National Science Library

    1999-01-01

    Our objective was to determine whether the DFAS Indianapolis Center consistently and accurately compiled financial data from field activities and other sources for the FY 1998 Army General Fund financial statements...

  4. Inspector General, DOD, Oversight of the Air Force Audit Agency Audit of the FY 1999 Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    Lane, F

    2000-01-01

    An audit of the Air Force Working Capital Fund financial statements is required by Public Law 101-576, the "Chief Financial Officers Act of 1990," November 15, 1990, as amended by Public Law 103-356...

  5. Inspector General, DOD, Oversight of the Naval Audit Service Audit of the Navy General Fund Financial Statements for FY 1998

    National Research Council Canada - National Science Library

    1999-01-01

    Introduction. An audit of the Navy General Fund Financial Statements is requited by Public Law 101-576, the "Chief Financial Officers Act of 1990," November 15, 1990, as amended by Public Law 103-356, the "Federal...

  6. Western Area Power Administration combined power system financial statements, 30 September 1995 and 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-31

    The attached report presents the results of the independent certified public accountant`s audit of the Department of Energy`s Western Area Power Administration`s (Western) combined financial statements as of September 30, 1995. The auditors have expressed an unqualified opinion on Western`s 1995 statements. Their reports on Western`s internal control structure and on compliance with laws and regulations are also provided.

  7. Defense Commissary Surcharge Collections Fund Financial Statements for FY 1992

    National Research Council Canada - National Science Library

    Young, Shelton

    1993-01-01

    .... We also evaluated DeCA's and DPAS - Columbus Center's internal control structure for controlling and reporting financial information as well as DeCA's compliance with applicable laws and regulations...

  8. Selection and reliability of financial ratios in an attempt to analyse financial statements. An empirical research of the listed companies at Greek stock exchange in Construction Sector. Dimitrios Tsiolis MA Finance

    OpenAIRE

    Tsiolis, Dimitrios

    2008-01-01

    Financial ratio analysis is a widely known financial statements analysis tool and is used to evaluate companies` financial position. Careful selection process in collaboration with other financial statement analysis techniques as well as taking into consideration the financial ratio analysis problems can lead the companies' analysts to a clear determination of their company's financial position.

  9. Healthcare not-for-profits: FASB exposure draft highlights flexibility in financial statement presentation.

    Science.gov (United States)

    Conner, Brian

    2016-03-01

    A new version of the FASB accounting standard covering not-for-profit healthcare organizations contains potentially significant changes to the statement of operations and changes in net assets, statement of cash flows, and notes to the financial statements. Healthcare organizations already have tremendous flexibility with disclosures around all aspects of their business. Although auditors prefer to see only information that can be effectively audited, this preference does not prevent organizations from expanding on certain activities or transactions covered by GAAP in their footnotes.

  10. First half financial report

    International Nuclear Information System (INIS)

    2003-01-01

    Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)

  11. Documentation of the Federal Financial System Process at the Defense Finance and Accounting Service Indianapolis Center

    National Research Council Canada - National Science Library

    Gimble, Thomas

    1997-01-01

    ...) and the Federal Financial Management Act of 1994 (Public Law 103-356). Public Law 103-356 requires DoD and other Government agencies to prepare consolidated financial statements for FY 1996 and each succeeding year...

  12. THE COMPANY ACCOUNTING EVALUATION – PRELIMINARY PHASE OF THE PROPER ANALYSIS OF FINANCIAL STATEMENTS

    OpenAIRE

    Doina Pacurari; Mircea Muntean

    2008-01-01

    The problem that the accounting information do not always reflect the economic reality may affect the analysis and forecast based on financial statements. This is due both to the accrual accounting limitations and to the fact that this type of accounting allows the result management. In spite of some disadvantages, the accrual accounting is considered superior to cash accounting in measuring the performances and determining financial position as well as in the predicting of future cash flow. ...

  13. Financial statements – basis for assessing the financial performance from the investors’ perspective, by means of prospectively oriented indicators

    Directory of Open Access Journals (Sweden)

    Aristita Rotila

    2009-12-01

    starting from the financial statements, we could approach the issue of assessing the financial performance only from the single perspective of the investors, also taking into account the market value of the company. The market value of a company represents the sum of the market values of the two components in the capital’s structure: shareholders’ equity and liabilities. It is considered that it is only in the case of shareholders’ equity that the market value differs from the accounting value, but this is not the case with liabilities, so the “market value added” will be researched only by taking account of shareholders’ equity.

  14. STUDY REGARDING THE QUALITY OF THE TRUE AND FAIR VIEW SUPPLIED BY THE FINANCIAL STATEMENTS FROM FINANCIAL AUDITOR’S POINT OF VIEW

    Directory of Open Access Journals (Sweden)

    Matis Dumitru

    2008-05-01

    Full Text Available The concept of “true and fair view” is a very subjective one , which didn’t find yet the definition general accepted and in this way we can’t say that there are relevant instruments for measuring the level of the fidelity reflected in the financial statements. The financial audit plays an important role for delimitating the true and fair view supplied by the financial statements and despite the fact that the financial auditors are consciences that there isn’t a mathematical formula or other kind of formula through which could be possible to measure the level of the fidelity and the true and fair view of the financial statement, they consider that they have the possibility to identify the situations in which the financial statements didn’t present the reality true and fair, using the professional though to determine the level of the financial statements to give a true and fair view We have made an empirical survey which permits us to analyze the quality of the true and fair view supplied by the financial statements from the point of view of the financial auditor, without having the pretentious of using all the significant aspects.

  15. 7 CFR 4290.630 - Requirement for RBICs to file financial statements and supplementary information with the...

    Science.gov (United States)

    2010-01-01

    ... Requirement for RBICs to file financial statements and supplementary information with the Secretary (SBA Form... 7 Agriculture 15 2010-01-01 2010-01-01 false Requirement for RBICs to file financial statements and supplementary information with the Secretary (SBA Form 468). 4290.630 Section 4290.630 Agriculture...

  16. Performance Reporting - The IASB's Proposed Formats of Financial Statements in the Exposure Draft of IAS1

    DEFF Research Database (Denmark)

    Thinggaard, Frank; Wagenhofer, Alfred; Evans, Lisa

    2006-01-01

    This paper is a response to the Exposure Draft of proposed amendments to IAS 1 Presentation of Financial Statements published by the IASB in March 2006. The objective is to bring to the standard setter’s attention research that is relevant to the issues raised in the exposure draft. We review...

  17. New approaches to the analysis of financial statements of commercial structures

    Directory of Open Access Journals (Sweden)

    Orlova Tamara Mikhailovna

    2013-02-01

    Full Text Available This item includes changes in the organization's assets and sources of its formation in connection with the introduction of the Federal Law "On Accounting" (FC-402, and new forms of accounting (financial statements. An overview of the new balance sheet items and the evaluation of information from the point of view of internal and external user is.

  18. 17 CFR 250.26 - Financial statement and recordkeeping requirements for registered holding companies and...

    Science.gov (United States)

    2010-04-01

    ... maintain a subaccount to its retained earnings account which shall be periodically debited or credited with its proportionate share of undistributed retained earnings of subsidiary companies. (3) No company... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Financial statement and...

  19. The Usefulness of the Most Widely Reported Dutch Financial Statement Numbers to Stock Market Investors

    NARCIS (Netherlands)

    Kabir, M.R.

    1997-01-01

    Much of the literature on the usefulness of company financial statement information focuses on the United States and the United Kingdom. But, these two countries are characterized by similar and rigid regulatory and enforcement regime. This study provides direct evidence from the Netherlands – a

  20. 77 FR 25499 - Notice of Proposed Information Collection: Comment Request; Personal Financial and Credit Statement

    Science.gov (United States)

    2012-04-30

    ... Information Collection: Comment Request; Personal Financial and Credit Statement AGENCY: Office of the Assistant Secretary for Housing, HUD. ACTION: Notice. SUMMARY: The proposed information collection... Street SW., Washington, DC 20410, Room 9120 or the number for the Federal Information Relay Service (1...

  1. 78 FR 17646 - Agency Information Collection Activities; eZ-Audit: Electronic Submission of Financial Statements...

    Science.gov (United States)

    2013-03-22

    ... DEPARTMENT OF EDUCATION [Docket No. ED-2013-ICCD-0034] Agency Information Collection Activities; eZ-Audit: Electronic Submission of Financial Statements and Compliance Audits AGENCY: Federal Student... Reduction Act of 1995, ED is proposing an extension of a previously approved information collection. DATES...

  2. PARTICULARITIES REGARDING THE REFLECTION OF FOREIGN CURRENCY TRANSACTIONS IN FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Ionela Cristina Breahna Pravat

    2014-07-01

    Full Text Available The structure and the constituent parts of financial statements are regulated at a national level, mainly by Accounting regulations compliant with European Directives ̶ O.M.P.F. no. 3055/2009, but also by Accounting regulations compliant with International Financial Reporting Standards applied by the trading companies whose securities are rated on a regulated capital market ̶ O.M.P.F. no. 1286/2012. From this latter point of view, an important role is played by IAS 1 “Presentation of Financial Statements”, respectively IAS 21 “The Effects of Changes in Foreign Exchange Rates”. Therefore, this study aims to describe a series of theoretical and practical aspects regarding the particularities of presenting elements generated by foreign currency transactions in financial statements, which are prepared in compliance with the Romanian accounting regulations ̶ balance sheet, profit and loss account, cash flow statement, statement of changes in equity, explanatory notes. The paper also approaches the effect of changes in foreign exchange rates, respectively the accounting recognition of exchange differences, which are specific to different foreign currency operations, according to national regulations (and implicitly, to European Directives, but also according to international regulations (IFRS.

  3. Teaching the Statement of Changes in Financial Position--A Worksheet Approach.

    Science.gov (United States)

    Byrd, David B.; Byrd, Sandra D.

    1986-01-01

    The worksheet approach to preparing a Statement of Changes in Financial Position (SCFP) is presented. An example that has been developed for presentation to the class during the first class period spent on SCFPs is discussed. Conversion of working capital to cash is also explained. (CT)

  4. 12 CFR 715.7 - Supervisory Committee audit alternatives to a financial statement audit.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Supervisory Committee audit alternatives to a... REGULATIONS AFFECTING CREDIT UNIONS SUPERVISORY COMMITTEE AUDITS AND VERIFICATIONS § 715.7 Supervisory Committee audit alternatives to a financial statement audit. A credit union which is not required to obtain...

  5. Defense Finance and Accounting Service Work on the Navy Defense Business Operations Fund FY 1995 Financial Statements

    National Research Council Canada - National Science Library

    lane, F

    1996-01-01

    The primary audit objective was to determine whether the DFAS Cleveland Center consistently and accurately compiled financial data from field activities and other sources for the FY 1995 Consolidated...

  6. A Comparative Study of Financial Data Sources for Critical Access Hospitals: Audited Financial Statements, the Medicare Cost Report, and the Internal Revenue Service Form 990

    Science.gov (United States)

    Ozmeral, Alisha Bhadelia; Reiter, Kristin L.; Holmes, George M.; Pink, George H.

    2012-01-01

    Purpose: Medicare Cost Reports (MCR), Internal Revenue Service Form 990s (IRS 990), and Audited Financial Statements (AFS) vary in their content, detail, purpose, timeliness, and certification. The purpose of this study was to compare selected financial data elements and characterize the extent of differences in financial data and ratios across…

  7. THE EFFECTIVENESS OF FRAUD TRIANGLE ON DETECTING FRAUDULENT FINANCIAL STATEMENT: USING BENEISH MODEL AND THE CASE OF SPECIAL COMPANIES

    Directory of Open Access Journals (Sweden)

    Aprillia Aprillia

    2015-12-01

    Full Text Available Fraudulent financial statement is a serious problem and to be a threat to stakeholders, especially for investor. The thing is happened because there is illegal action done intentionally, such as disclosing financial information that doesn’t match with the real condition. The purpose of this research is to acquire a effectiveness of empirical proof of fraud triangle consisting of Pressure, Opportunity, and Rationalization in detecting financial statement fraud that are indicated by using Beneish Model. The sample of this research consists of 39 companies are indicated doing fraud and 57 companies aren’t indicated doing fraud listing at BEI (Bursa Efek Indonesia in 2012 – 2014. Test of this research uses logistic regression method. Based on the result and conclusion, this research shows that opportunity (independent commissioner ownership has significant effect to fraudulent financial statement while pressure (AGROW, financial target (ROA, and rationalization (Total accrual don’t have significant effect to fraudulent financial statement.

  8. Characteristics of companies with a higher risk of financial statement fraud: Five case studies

    Directory of Open Access Journals (Sweden)

    Elda du Toit

    2015-04-01

    Full Text Available Various characteristics can be observed in the financials and the behaviour of companies engaging in accounting irregularities. This article explores the usefulness of such characteristics by analysing the financial statements of five companies accused of alleged accounting irregularities. The analysis involves quantitative and qualitative analyses for each of the companies, compared to a relevant control sample. The quantitative study consisted of financial statement analyses. The qualitative study involved an analysis of the narrative reports that form part of the published annual report. Nine of the characteristics initially identified were not reliable indicators of accounting irregularities. However, the nine remaining characteristics were positive indicators for the detection of accounting irregularities. Eight additional characteristics, not initially identified, were noted as potential indicators of accounting irregularities.

  9. Inspector General, DOD, Oversight of the Army Audit Agency Audit of the FY 2000 U.S. Army Corps of Engineers, Civil Works Program, Financial Statements

    National Research Council Canada - National Science Library

    2001-01-01

    .... Office of Management and Budget Bulletin No. 01-02, "Audit Requirements for Federal Financial Statements," dated October 16, 2000, establishes the minimum requirements for audits of these financial statements...

  10. REGRESSION MODEL FOR RISK REPORTING IN FINANCIAL STATEMENTS OF ACCOUNTING SERVICES ENTITIES

    Directory of Open Access Journals (Sweden)

    Mirela NICHITA

    2015-06-01

    Full Text Available The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing. The financial crisis emphasized the limits of financial reporting which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers have been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization is a fundamental challenge for implementing and sustaining all aspects of effective risk management. Starting with the 80s, the investors are more interested in narratives (Notes to financial statements, than in primary reports (financial position and performance. The research will apply a regression model for assessment of risk reporting by the professional (accounting and taxation services for major companies from Romania during the period 2009 – 2013.

  11. Analysis of Possibilities of Detectnig the Manipulation of Financial Statements in Terms of the IFRS and Czech Accounting Standards

    Directory of Open Access Journals (Sweden)

    Zita Drábková

    2015-01-01

    Full Text Available The main objective of financial statements is to give information. The diversity of interests and objectives of individual groups of users and creators of financial statements presents the risk of manipulation of financial statements in the context of true and fair view as defined in the national accounting legislation. The paper is concerned with the different possibilities of detecting the manipulation of financial statements in terms of the Czech Accounting Standards and IFRS. The paper analyzes the selected risk detection models of the manipulation of financial statements using creative accounting methods, off-balance sheet financing methods and accounting frauds in specific case studies of selected accounting unit in terms of Czech accounting standards. Based on the analysis and comparison of the results thereof, the paper presents and evaluates the alternatives of users of financial statements to evaluate the risk of manipulation of financial statements beyond the scope of a fair and true view. The evaluation further includes a comparison of uses of these models with respect to the International Financial Reporting Standards.

  12. Improvement of Methods for Detection of Signs of Errors and Omissions in the Financial Statements Based on Analytical Procedures

    OpenAIRE

    Kostyantyn Bezverkhiy

    2014-01-01

    Analytical work within enterprises aimed to prevent omissions of financial reporting data should play a leading role in the work program of accountant, analyst and auditor. The article is devoted to the improvement of methods for detection signs of errors and omissions in the financial statements by applying analytical procedures. It was established that the main issues at implementation of the concept of financial statements control in the enterprise are the lack of adopted methods to detect...

  13. Preparation of Financial Statements for Sme’s in Romania. Interest for Cash-Flow Statement

    Directory of Open Access Journals (Sweden)

    Nicoleta FARCANE

    2012-05-01

    Full Text Available The purpose of this article is to obtain feedback about the transition to IFRS standards and their implementation in the context of small and medium-sized enterprises in Romania in terms of the cashflow situation. Research methodology is based on a quantitative survey carried out in order to verify the importance and usefulness of perception on the cash-flow statement. The investigation based on testing four hypotheses has been carried out within the framework of small and medium-sized enterprises in Western Romania and the categories of respondents to the study were: upper management and accounting specialists. The results highlight the fact that there are differences between the categories of users of the cash-flow statements, fact highlighted and illustrated by our findings. The article ends with the conclusions of the authors regarding the importance and usefulness of the use and implementation of the cash-flow statement of the small and medium enterprises in Western Romania.

  14. Relationship between risk and transparency in the financial statements of professional services entities

    Directory of Open Access Journals (Sweden)

    Mirela Elena Nichita

    2016-05-01

    Full Text Available The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing. The financial crisis emphasized the limits of financial reporting, which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The lack of quality, timely data and adequate systems to capture, report and measure the right information across the organization are fundamental challenges to implementing and sustaining all aspects of effective risk management. Starting from ‘80s, the investors have become more interested in narratives (from the Notes to financial statements, than in primary reports (which disclose financial position and performance. In this research, we aim to identify whether the accounting services entities disclose risk information in their financial statements. The research will use a regression model for the assessment of the relationship between the size, profitability, leverage ratios and risk reporting by the accounting and taxation services providers in Romania during the period 2009-2013

  15. QUESTIONS TO REGULATORY FRAMEWORK ACCOUNTING AND FINANCIAL STATEMENTS UNDER IFRS

    Directory of Open Access Journals (Sweden)

    V. Shvets

    2015-10-01

    Full Text Available With the system approach in article analyzes the situation and problems of legal regulation and providing accounting and financial reporting in terms of standardization and harmonization of the principles of IFRS. The evaluation of the provisions and objectives of the strategy for reform of accounting and reporting rules and the requirements of European integration processes. Analyzed and determined the degree of influence of accounting and analytical science and education for the development and implementation of new approaches to the reform process and regulation of accounting, control and audit. critical analysis of the draft amendments to the existing regulations, current views on instytutsiynist accounting under uncertainty and systemic crisis outlined organizational problems and possible solutions to methodological council of accounting.

  16. Comparative Study on Presentation of Statement of Financial Position in the Public Sector

    Directory of Open Access Journals (Sweden)

    Carmen Crețu

    2011-06-01

    Full Text Available Although it is more than a decade since the elaboration of the first public accountingstandards, countries are still reluctant to adopt them, preferring rather an adaptation of nationallegislation with the provisions IPSASs. Concerns about the necessity and usefulness of the applicationof International Public Sector Accounting Standards are due to economic influences, cultural, social,which made their mark on philosophy, doctrine and national accounting policies. Although financialstatements may appear similar from country to country, there are differences that can be caused by avariety of social, economic and legal factors, and that some countries when setting the nationalrequirements have considered the needs of different users of financial statements. These factors haveled to the use of different definitions of the structures of financial statements, such as assets,liabilities, equity, revenues and expenses. Scope and disclosures in the financial statements were alsoaffected. Therefore, this paper intends to emphasize similarities, but especially the differencesbetween the two frames of reference - national norms to international standards - regarding Statementof financial position on a public institution.

  17. Differences in financial statements of business entities in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Jana Gláserová

    2013-01-01

    Full Text Available Ministry of Finance in the Czech Republic identifies and defines four types of accounting entities that are engaged in business activities. These are the “normal” business entities, business entities as banks, commercial insurance companies and health insurance companies. For each of these types of entities the Ministry of Finance issued relevant regulations that contain specific accounting policies arising mainly from the specifics of the scope of business activities of these entities. The effects of these specifics are ultimately shown also in the individual parts of the financial statement closing. In contrast the International Financial Reporting Standards (IFRS and also generally accepted accounting principles of the United States (U.S. GAAP are valid for all listed entities regardless of their size and scope of activities. The ongoing globalization of the world, transnational mergers and acquisitions of various companies brings the requirements for unification of accounting policies in order to achieve comparability of financial statements closing of companies from different countries, their transparency and completeness of published information in the individual countries. This paper deals with the definition of significant differences in the items of financial statement closing of different types of business entities in the Czech Republic and with the formulation of proposals for individual types of entities, which would contribute to easier orientation and grater comparability for the needs of different users of accounting information.

  18. STUDY REGARDING THE QUALITY OF THE TRUE AND FAIR VIEW SUPPLIED BY THE FINANCIAL STATEMENTS FROM FINANCIAL AUDITOR'S POINT OF VIEW

    OpenAIRE

    Matis Dumitru; Bota Avram Florin

    2008-01-01

    The concept of “true and fair view” is a very subjective one , which didn’t find yet the definition general accepted and in this way we can’t say that there are relevant instruments for measuring the level of the fidelity reflected in the financial statements. The financial audit plays an important role for delimitating the true and fair view supplied by the financial statements and despite the fact that the financial auditors are consciences that there isn’t a mathematical formula or other k...

  19. The Influence of External User Interdependence of Financial Statements, Possibility of Clients Facing Financial Difficulties, and Auditor Evaluation of Management Integrity To Acceptable Audit Risk.

    Directory of Open Access Journals (Sweden)

    Andini Sih Afsari Utami

    2016-12-01

    Full Text Available The purpose of this research is to analyze. Analyses the influence of external users reliance on financial statements, likelihood of financial difficulties and management integrity toward acceptable audit risk were performed with 10 public accountant office who had listed from Direktorat IAPI 2013. The sample used the “Gay” theory. The analyzed method in this research uses multiple linear. The result shown that performing external users reliance on financial statements significantly influences toward acceptable audit risk, likelihood of financial difficulties significantly influences toward acceptable audit risk, and management integrity significantly influences toward acceptable audit risk.

  20. 17 CFR 210.3-10 - Financial statements of guarantors and issuers of guaranteed securities registered or being...

    Science.gov (United States)

    2010-04-01

    ... condensed financial statements and present the financial information in sufficient detail to allow investors... narrative information about each guarantor if the information would be material for investors to evaluate... financial information presented not misleading; and (iii) Need not repeat information that would...

  1. 30 CFR 253.27 - When I submit audited annual financial statements to verify my unencumbered assets, what...

    Science.gov (United States)

    2010-07-01

    ... Resources MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR OFFSHORE OIL SPILL FINANCIAL... 30 Mineral Resources 2 2010-07-01 2010-07-01 false When I submit audited annual financial... financial statements to verify my unencumbered assets, what standards must they meet? Any audited annual...

  2. Financial Management: Review of the U.S. Army Corps of Engineers, Civil Works, Balance Sheet Reporting and Financial Statement Compilation

    National Research Council Canada - National Science Library

    2005-01-01

    Since FY 2002, the DoD Office of Inspector General has conducted audits and assessments of the USACE, Civil Works, Balance Sheet reporting and financial statement compilation processes and has issued...

  3. THE EFFECT OF BUDGETS’ PROPORTION AND NON-FINANCIAL FACTORS ON THE AUDIT RESULTS OF LOCAL GOVERNMENTS’ FINANCIAL STATEMENTS IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Nurdiono

    2016-05-01

    Full Text Available Local governments’ financial statements that obtain unqualified opinion until the end of 2011 were still relatively few in number. This study aims to empirically examine the effect on the audit results of the financial statements of local governments in Indonesia of the budgets’ proportion, the effectiveness of the internal audit, the follow-up to the Supreme Audit Board’s findings, the Supreme Audit Board’s opinions from earlier periods, and the competence of the available human resources to understand the audit results of the Supreme Audit Board. Budget management has become very important since it lays out a detailed plan for the expenditure and revenue of the local governments, so that it can be accountable to the public. This study used a sample of 434 Indonesian Local Governments’ financial statements of 2011 and a logistic regression analysis. This study used primary and secondary data to uncover the phenomena that the local governments’ financial statements which received an unqualified opinion from the Supreme Audit Board were still relatively few in number. The results of this study showed that the budgets’ proportions of local governments are negatively significant in affecting the audit results of the financial statements of the local governments. The Supreme Audit Board’s opinions from earlier periods positively influenced the audit results of the financial statements of local governments. Whereas the variables of the effectiveness of internal controls, the follow-up to the Supreme Audit Boards’ findings, and the competence of the human resources do not significantly influence the audit results of the financial statements of local governments. The results of this study can contribute both theoretically and practically to the quality of the local governments’ financial statements.

  4. US Department of Energy Naval Petroleum and Oil Shale Reserves combined financial statements and management overview and supplemental financial and management information, September 30, 1995 and 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-02-15

    This report presents the results of the independent certified public accountant`s audit of the Department of Energy`s (Department) Naval Petroleum and Oil Shale Reserves (NPOSR) financial statements as of September 30, 1995. The auditors have expressed an unqualified opinion on the 1995 statements. Their reports on the NPOSR internal control structure and compliance with laws and regulations are also provided.

  5. SPECIFIC OPERATIONS FOR ACCOUNTS’ HOMOGENIZATION WITH A VIEW TO CONSOLIDATION

    Directory of Open Access Journals (Sweden)

    Mihai Deju

    2017-12-01

    Full Text Available The preparation of annual consolidated financial statements by group companies represents a relatively new problematic issue for regulating bodies, the world of the academia, as well as for accounting practitioners. The current national and international accounting standards undergo a continuous change and updating to the economic and judicial reality of the business environment which, in turn, goes through a permanent transformation as a result of the globalization of national economies. These novelties raise the necessity of debates organised by accounting specialists with the aim of finding solutions that respect legal regulations related to the preparation of financial statements for consolidation. The present article approaches accounting aspects related to the operation of adjusting individual financial statements that are the object of consolidation.

  6. ECONOMIC ANALYSIS OF EXPLORATION FOR AND EVELUATION OF MINERAL RESOURCES BASED ON FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Andrey Nikolayevich Belonogov

    2016-02-01

    Full Text Available The article examines different techniques of economic analysis of exploration costs. The purpose of the article is to develop an approach to exploration costs economic analysis and to propose recommendations on improvement of an analytical value of Notes to Financial Statements. To achieve the purpose analysis, synthesis, deductive methods were employed. In course of the research we analyzed studies of J.C. Alfaro, A. Naggar, А.А. Muzychenko, E.V. Shevchenko, etc. We proposed an approach to economic analysis of resources sufficiency to complete exploration and evaluation works and to accounting for exploration and evaluation activities risks. We also proposed to supplement Notes to Financial Statements with additional relevant data. Results of the research can be used by investment analysts in order to enhance understanding of specific industry risks.

  7. Disclosure of economic value of operating fixed assets in financial statements of Polish public companies

    Directory of Open Access Journals (Sweden)

    Marcin Michalak

    2016-07-01

    Full Text Available The objective of the paper is analysis of the methods of identifying, measuring and recognizing the oper-ating fixed assets impairment, alongside with defining and measurement of operating fixed assets economic value and its determinants as well as the quality of this information disclosed in financial state-ments as of 2014. The research was conducted on the basis of annual financial statements of companieslisted on Warsaw Stock Exchange that are included in stock indices WIG 20 and sWIG 80. The research was focused on disclosures of determinants used by companies to estimate the economic value of operat-ing fixed assets for the purposes of impairment test performed according to IAS 36.

  8. Studies On The Materiality And Aggregation, Compensation And Offsetting In Financial Statements

    Directory of Open Access Journals (Sweden)

    Liana GADAU

    2016-04-01

    Full Text Available The accounting principles should be considered an essential element in the preparation and presentation of financial statements, with our analysis focusing especially on the relative principles: Materiality and aggregation, compensation and offsetting. We consider necessary to improve the analyzed concepts by bringing additional information, as clear and comprehensive as possible, information used as reference in the preparation of financial statements.  Moreover, is crucial to apply an unitary thinking of the accounting referential which is linked to these accounting principles. The research methods used in analyzing the principles are: documentation of theoretical study of normative acts in the field of accounting, observation, comparative analysis, synthesis, information classification and data interpretation.

  9. National Nuclear Corporation Limited report and financial statements 31 March 1987

    International Nuclear Information System (INIS)

    1987-01-01

    The paper presents the annual report and audited financial statements of the National Nuclear Corporation Limited, 31 March 1987. The company is engaged in designing and constructing power stations and nuclear power reactors and other related work. A review of the development work carried out on power stations is briefly given, along with the research and development work on reactors. Future prospects concerning the Sizewell-'B' project are briefly outlined. (U.K.)

  10. Opportunities to Improve the Elimination of Intragovernmental Transactions in DoD Financial Statements

    Science.gov (United States)

    2014-12-22

    revenue accounts . The buying defense agency has to eliminate the purchase amount from its account payable and expense accounts . DoD Regulation...Defense that supports the warfighter; promotes accountability , integrity, and efficiency; advises the Secretary of Defense and Congress; and informs the...other than Buy/Sell transactions. As a result, intragovernmental account balances reported on the DoD Agency-wide basic financial statements were not

  11. THE QUALITY INCREASING OF INFORMATION IN THE FINANCIAL STATEMENTS. A REARRANGEMENT OF THE QUALITATIVE CHARACTERISTICS

    OpenAIRE

    GĂDĂU LIANA

    2012-01-01

    The generalized practice of using some conceptual frameworks offers a higher quality of information, by establishing specific criteria of reference. The qualitative characteristics are those features that give utility and value to the information presented in the financial statements. They are features derived from the normalization of a conceptual framework and a chart of accounts. These qualities, which are supposed to be general for all accounting data, connect the objectives of the financ...

  12. Improving the comparability of Financial Statements in a changeable context: a Semantic Web-based approach

    OpenAIRE

    Carretié, Héctor

    2012-01-01

    Accounting at the international level has become more changeable than never before due to several reasons, but one stands above the others: the convergence process carried out by the International Accounting Standards Board (IASB) and the Federal Accounting Standards Board (FASB). This process started in order to enhance the comparability of the financial statements worldwide, among other purposes, but also brought complexity and uncertainty about the temporal horizon and the d...

  13. Artificial Neural Network Methodology In Fraud Risk Prediction On Financial Statements; An Emprical Study In Banking Sector

    Directory of Open Access Journals (Sweden)

    Mustafa Uğurlu

    2015-03-01

    Full Text Available Credit risk is among the foremost risk factors that banks may encounter. Banking function is rendering credits. In rendering commercial credits based on fraudulent financial statements, credit risk can occur if banks cannot ensure the repayments of credits completely or partially. This case lead to an important problem for banks. The accuracy and reliability of information provided by financial statements are of crucial importance in credit risk management. In this context, main purpose of this study is to make it possible to predict fraud risk in financial statements. By doing so, it is possible prevent credit risk that may emerge in banks. In this study, to predict and deter mine fraud risk in financial statements, artificial neural network (ANN methodology is utilized. This research includes commercial and corporate customers of banks. Financial data of 289 firms, belonging to the year of 2007, (97 firms were assumed to have fraudulent financial statements and 192 firms were in control group was analyzed, and an ANN model is proposal. The proposal model that was developed is highly successful in predicting fraud risk in financial statements with an accuracy ratio of 90%.

  14. Thermal and nuclear power generation cost estimates using corporate financial statements

    International Nuclear Information System (INIS)

    Matsuo, Yuhji; Nagatomi, Yu; Murakami, Tomoko

    2012-01-01

    There are two generally accepted methods for estimating power generation costs: so-called 'model plant' method and the method using corporate financial statements. The method using corporate financial statements, though under some constraints, can provide useful information for comparing thermal and nuclear power generation costs. This study used this method for estimating thermal and nuclear power generation costs in Japan for the past five years, finding that the nuclear power generation cost remained stable at around 7 yen per kilowatt-hour (kWh) while the thermal power generation cost moved within a wide range of 9 to 12 yen/kWh in line with wild fluctuations in primary energy prices. The cost of nuclear power generation is expected to increase due to the enhancement of safety measures and accident damage compensation in the future, while there are reactor decommissioning, backend and many other costs that the financial statement-using approach cannot accurately estimate. In the future, efforts should be continued to comprehensively and accurately estimate total costs. (author)

  15. Accounting Entries Made in Compiling the FY 2000 Financial Statements for the Working Capital Funds of the Air Force and Other Defense Organizations

    National Research Council Canada - National Science Library

    2001-01-01

    The Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, requires DoD to submit to the Office of Management and Budget annual audited financial statements...

  16. Current status of implementation of IFRS in the preparation of financial statements of peruvian companies

    Directory of Open Access Journals (Sweden)

    Oscar Alfredo Diaz Becerra

    2010-12-01

    Full Text Available For investors and other users of financial information to be able to act with full transparency and reliability it is necessary, among other things, that it be prepared according to a regulatory framework that is based on international standards that in turn adapt to new requirements of the global economy. The high level of globalization of the world economy has led the International Financial Reporting Standards (IFRS to become the highest international standards applicable throughout the world and in the case of Peru, these standards have been made mandatory in preparing the financial statements of companies incorporated under the scope of the General Corporate law. Thus, the main purpose of this research , having an exploratory design, is ro have an initial approach on the compliance with the, implementation of IFRS in the preparation and presentation of financial statements of Peruvian companies that are not under the supervision of the National Supervisory Commission for Companies and Securities (CONASEV. To this end, first ít presents a general review of the theoretical framework of financial reporting and secondly, an analysis of the Peruvian Setting Accounting Standards related to the preparation and presentation of financial statements. The third part of this work presents and describes the methodological aspects used in the development of this research, for which it has developed a survey that includes eighteen closed questions and two open ended questions, structured according to our main and specific objectives of this research. The survey was distributed to a sample of companies selected from the universe defined in the research. The results are set out in the fourth section of the article, entitled, research results and which analyzes the responses to each of the survey questions. Finally, we present the conclusions and recommendations that can be reached, highlighting among the main ones, a high incidence of tax and legal aspects

  17. 30 CFR 253.24 - When I submit audited annual financial statements to verify my net worth, what standards must...

    Science.gov (United States)

    2010-07-01

    ... of an independent accountant that states: (1) The financial statements are free from material misstatement, and (2) The audit was conducted in accordance with the generally accepted auditing standards...

  18. Compilation of the FY 1997 Navy General Fund Financial Statements at the Defense Finance and Accounting Service Cleveland Center

    National Research Council Canada - National Science Library

    1998-01-01

    Audit Report on tile Compilation of the FY 1997 Navy General Fund Financial Statements at the Defense Finance and Accounting Service Cleveland Center Our objective was to determine whether the DFAS...

  19. Valuation and Presentation of Inactive Inventory on the FY 1997 Defense Logistics Agency Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    1998-01-01

    The overall objective of our audit was to determine whether the FY 1997 Financial Statements of the DLA Working Capital Fund were presented fairly and in accordance with Office of Management and Budget Bulletin...

  20. Defense Finance and Accounting Service Work on the FY 1993 Air Force Defense Business Operations Fund Financial Statements

    National Research Council Canada - National Science Library

    Rau, Russell

    1995-01-01

    ... fairly in accordance with accepted accounting principles. The objective was revised to correspond with the incremental audit approach that DoD audit organizations were using for the Defense Business Operations Fund' 5 financial statements...

  1. Presentation of Accrued Annual Leave in the FY 1996 Defense Agency Financial Statements of the Defense Business Operations Fund

    National Research Council Canada - National Science Library

    1997-01-01

    .... We also assessed internal controls and compliance with laws and regulations. As part of that objective, we evaluated how the Defense agencies presented the accrued leave account on the FYs 1994,1995, and 1996 Statements of Financial Position...

  2. 17 CFR 229.914 - (Item 914) Pro forma financial statements: selected financial data.

    Science.gov (United States)

    2010-04-01

    ... 302 of Regulation S-K, Supplementary Financial Information (§ 229.302), for each partnership proposed... applicable), and distributions (separately identifying distributions that represent a return of capital... provided if material to an understanding of each partnership proposed to be included in a roll-up...

  3. 76 FR 63969 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of...

    Science.gov (United States)

    2011-10-14

    ...-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Amendment No. 1 to Proposed Rule Change To Adopt FINRA Rule 2231 (Customer Account Statements) in the Consolidated... Account Statements) in the Consolidated FINRA Rulebook (``Notice''). The Notice contained incorrect...

  4. The Audit Opinion of the DISA FY 2011 Working Capital Fund Financial Statements Was Not Adequately Supported

    Science.gov (United States)

    2013-04-26

    President’s Council on Integrity and Efficiency MD&A Management Discussion and Analysis MFR Memorandum for Record NoF Notification of...memorandums for record ( MFRs ) would have a material impact on the financial statements and ultimately Acuity’s opinion, • perform adequate completeness...the deficiencies identified by DISA in its FBWT MFRs would impact the reliability of the financial statements and ultimately Acuity’s opinion

  5. Factors that determine the fees for audit NGOs financial statements in Kosovo

    Directory of Open Access Journals (Sweden)

    Bahtijar Berisha

    2016-03-01

    Full Text Available The purpose of this paper is to identify, analyze and evaluate the potential factors that influence the determinants of the fee/price of the NGOs financial statements audit in Kosovo based and tested, generally, traditional determinants and known in economic literature on this issue. In our study, we have chosen the NGO sector in Kosovo to investigate the factors that determine the fee/price of their financial statements, because the non-governmental organizations are among the first organizations that have gone through the audit process after war disintegration of former Yugoslavia, and to our knowledge no similar research was undertaken. The study is generally based on data collected through a questionnaire, sector financial audit of NGOs in Kosovo’s reality, focusing on the group of respondents who are professional in this field as statutory auditors, certified auditors and certified accountants. By the results of this analysis related to the importance variables of the model, it was found that the size, complexity, audit risk, NGO audit market, competition, international character and the number of donors who fund NGOs and the number of projects they develop, have a significant impact on the fee/price of the financial audit of NGOs Kosovo.

  6. Towards a global convergence of the conceptual framework for preparing financial statements

    Directory of Open Access Journals (Sweden)

    Mario Díaz Durand

    2010-06-01

    Full Text Available Due to the current globalization in business and investments that generate a highly interrelated business world, it is a must to have a common standard in accounting that brings transparency and the real use of information. According to that, this article presents a comparative analysis of the conceptual framework for the preparation and presentation of financial statements of the two important international accounting models of normative use: the accounting standards established by the FASB and the IASB. The conceptual framework provides a guideline to prepare and present financial statements and at the same time it is a basis for the enactment of international financial reporting standards. To this day, there are some convergence agreements on conceptual frameworks between FASB and IASB, in charge of producing standards, which implies joint work in relation to their respective frameworks, with the purpose of developing a better conceptual framework, common for both institutions. With respect to this, in the article we can find proposals and reflections related to the convergence of conceptual frameworks, in order to enable the feasibility of a convergent framework as an important document in the revision and the issuance process of future international financial reporting standards.

  7. 17 CFR 210.3-16 - Financial statements of affiliates whose securities collateralize an issue registered or being...

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of affiliates whose securities collateralize an issue registered or being registered. 210.3-16 Section 210.3-16... statements of affiliates whose securities collateralize an issue registered or being registered. (a) For each...

  8. Report: Audit of EPA’s Fiscal 2007 and 2006 (Restated) Consolidated Financial Statements

    Science.gov (United States)

    Report #08-1-0032, November 15, 2007. We noted one material weakness with EPA’s Implementation of the “Currently Not Collectible” policy for accounts receivable that caused a Material Understatement of Asset Value.

  9. Report: Audit of EPA’s Fiscal 2005 and 2004 Consolidated Financial Statements

    Science.gov (United States)

    Report #2006-1-00015, November 14, 2005. EPA converted to a new payroll system in fiscal 2005. While EPA was able to resolve many issues arising from the conversion, we noted several reportable conditions.

  10. OPTIONS FOR THE ASSESSMENT OF ITEMS OF FINANCIAL STATEMENTS AT NATIONAL, EUROPEAN AND INTERNATIONAL LEVEL

    Directory of Open Access Journals (Sweden)

    SILVIA SAMARA

    2010-01-01

    Full Text Available The main purpose of evaluation is to determine the financial position and the outcome of the entity’s activity. With the intensification of the phenomena of globalization of economies and financial markets and the emergence of phenomena such as inflation, it began to be more often used the assessment based on the current value and, in particular, on the fair value. The users of the financial statements must always be taken into when selecting a basis of evaluation. Internationally, we can observe the tendency that, by the use of a certain bases of evaluation, to respond favourably to the needs of a various range of users; a balance must be assured between the relevance of the information (their usefulness in decision-making and their reliability (their objectivity.

  11. U.S. Department of Energy Naval Petroleum Reserve Number 1 quarterly financial statements, December 31, 1996 and 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-03-18

    The report presents the results of the independent certified public accountants` review of the Department of Energy`s Naval Petroleum Reserve Number 1 interim financial statements as of December 31, 1996 and 1995. The review was done in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A review of interim financial statements consists principally of inquiries of NPR-1 personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements take as a whole. Accordingly, the certified public accountants do not express such an opinion. The auditors have stated that, except for the omission of certain disclosures, they are not aware of any material modifications that should be made to the financial statements in order for them to be in conformity with the other comprehensive basis of accounting described in Note 1 to the financial statements.

  12. U.S. Department of Energy Naval Petroleum Reserve Number 1 quarterly financial statements, March 31, 1997 and 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-04-17

    The report presents the results of the independent certified public accountants` review of the Department of Energy`s Naval Petroleum Reserve Number 1 interim financial statements as of March 31, 1997 and 1996. The review was done in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A review of interim financial statements consist principally of inquires of NPR-1 personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, the certified public accountants do not express such an opinion. The auditors have stated that, except for the omission of certain disclosures, they are not aware of any material modifications that should be made to the financial statements in order for them to be in conformity with the other comprehensive basis of accounting described in Note 1 to the financial statements.

  13. Understanding Financial Viability of Urban Consolidation Centres: Regent Street (London), Bristol/Bath & Nijmegen

    NARCIS (Netherlands)

    van Duin, Ron; van Dam, T; Wiegmans, B.; Tavasszy, L.A.

    2016-01-01

    The concept of an urban consolidation centre (UCC) has been extensively researched. Despite the potential positive environmental and social impact, the main obstacle remains the lack of a sustainable business model. The goal of this paper is to understand how to organize UCC viability as a concept

  14. Financial statement in the Brazilian public sector: The perception of the professionals that prepare that information.

    Directory of Open Access Journals (Sweden)

    João Eudes de Souza Calado

    2016-12-01

    Full Text Available The objective of this paper is to identify the perception of the developers of the financial statements of public sector in respect to their difficulties in producing and disseminating such information, after the convergence of Brazil to the international standards IPSAS. Our methodological approach used multivariate descriptive techniques. Data was obtained through a survey, applied to professionals involved in the process of preparing the financial statement in the Brazilian public sector. The sample had 69 respondents, which corresponds to the perception of 85% of states and 46% of Brazilian cities. Data analysis was conducted using exploratory factor analysis. Results indicated that two perceptions of difficulties stood out: 1 the relevance of the information - its quality was not considered as being able to guide the internal user (decision-making or external user; 2 and the process of adaptation to the new standards - relationship between time and cost for adaptation. They also indicated the predominant focus on the Budget and the low adhesion to the Cash Flow Statement.

  15. Isotope Production and Distribution Program. Financial statements, September 30, 1994 and 1993

    Energy Technology Data Exchange (ETDEWEB)

    Marwick, P.

    1994-11-30

    The attached report presents the results of the independent certified public accountants` audit of the Isotope Production and Distribution (IP&D) Program`s financial statements as of September 30, 1994. The auditors have expressed an unqualified opinion on IP&D`s 1994 statements. Their reports on IP&D`s internal control structure and on compliance with laws,and regulations are also provided. The charter of the Isotope Program covers the production and sale of radioactive and stable isotopes, byproducts, and related isotope services. Prior to October 1, 1989, the Program was subsidized by the Department of Energy through a combination of appropriated funds and isotope sales revenue. The Fiscal Year 1990 Appropriations Act, Public Law 101-101, authorized a separate Isotope Revolving Fund account for the Program, which was to support itself solely from the proceeds of isotope sales. The initial capitalization was about $16 million plus the value of the isotope assets in inventory or on loan for research and the unexpended appropriation available at the close of FY 1989. During late FY 1994, Public Law 103--316 restructured the Program to provide for supplemental appropriations to cover costs which are impractical to incorporate into the selling price of isotopes. Additional information about the Program is provided in the notes to the financial statements.

  16. THE QUALITY INCREASING OF INFORMATION IN THE FINANCIAL STATEMENTS. A REARRANGEMENT OF THE QUALITATIVE CHARACTERISTICS

    Directory of Open Access Journals (Sweden)

    GĂDĂU LIANA

    2012-09-01

    Full Text Available The generalized practice of using some conceptual frameworks offers a higher quality of information, byestablishing specific criteria of reference.The qualitative characteristics are those features that give utility and value to the information presented in thefinancial statements. They are features derived from the normalization of a conceptual framework and a chart ofaccounts. These qualities, which are supposed to be general for all accounting data, connect the objectives of thefinancial reporting and the requirements from accounting standards, by separating the useful information from theunnecessary ones, information which are going to be presented in the financial statements.In this paper, we will conduct a research in order to find out the useful characteristics of accountinginformation presented in the financial statements. The research will be conducted by analyzing and comparing theinformation in diverse accounting framework, especially the American and the international one, both before thechanges brought by the Conceptual Frameworks in 2010 and at the present time.This analysis will not only highlight the qualitative characteristics of a useful information, but it will alsopresent the measures undertaken by Conceptual Frameworks, international and American ones, measures thateliminate the differences of quality between characteristics, so they can be incorporated in the convergence processand increase the quality.

  17. Risk disclosure in the financial statements: an analysis of the notes of portuguese non-financial corporations

    Directory of Open Access Journals (Sweden)

    Maria de Lima e Silva

    2015-09-01

    Full Text Available This study aims to analyze the risk disclosure of Portuguese non-financial corporations listed in the Lisbon Euronext in 2011 and 2012. The information characteristics disseminated in risk-related material were analyzed, considering the temporal contexto, the quantitative or qualitative nature of the information, the nature and classification of the risk disclosed. The data for this study were collected through the content analysis of the notes to the reports and accounts (consolidated accounts of the entities in the study population during 2011 and 2012, resulting in a population of 36 entities. The data were then submitted to univariate and bivariate analysis techniques, based on non-parametric tests, namely the Wilcoxon test. The results demonstrate that the qualitative disclosure of financial information is predominant, referring to the past, and classified as “good news”. The research results are intended to contribute to the understanding of the theme, like in the case of the elements in the information disclosure based on risk-related material.

  18. OBJECTIVES AND FUNCTIONS OF FINANCIAL STATEMENTS UNDER ACCOUNTING INFORMATION SYSTEM AT TRADE ENTITIES

    Directory of Open Access Journals (Sweden)

    CARAIMAN ADRIAN-COSMIN

    2015-12-01

    Full Text Available As Radu said (2009, pag. 91 [6] logical approach developed by accounting, presentation of an exact image of the heritage, the financial situation and financial results, based on a rational thought, a gradual knowledge domain investigated, concepts, tools and processes that allow a better understanding of the essence of economic phenomena and processes. Theoretical framework brings together a number of concepts that are considered fundamental to regulatory or accounting systems applied at the level of the entity to have clearly specified the coordinates of the base and are able to achieve cohesion between the objective of financial statements as true and fair view, financial information and policy characteristics and estimation techniques as a form of expression towards the recognition and presentation of economic reality. The author considers, in the context of the defined system applied within the accounting entities in general, that principles, presents not only a crucial premise, as well as needed necessity in order to show an exact image of the performance and financial position of the entity.

  19. Western Area Power Administration. Combined power system financial statements and supplemental schedules

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-30

    This report presents the results of the independent certified public accountants` audit of the Department of Energy`s Western Area Power Administration (Western) financial statements as of September 30, 1991. In their opinion, Western`s statements are fairly presented in all material respects in accordance with generally accepted accounting principles. Their reports on Western`s internal control structure and its compliance with laws and regulations, as well as a management letter addressing needed improvements are also provided. Western was established in December 1977, and has the responsibility for the Federal electric power marketing and transmission functions in 15 central and western states. Western markets power, as required by existing law, at the lowest possible rates consistent with sound business principles to recover the costs of operation and capital invested in power facilities.

  20. Financial audit: DOE Uranium Enrichment Activity financial statements - September 30, 1984

    International Nuclear Information System (INIS)

    1986-01-01

    In GAO's opinion the Department of Energy did not comply with the terms and provisions of laws and regulations for the financial transactions tested. Specifically, DOE did not comply with the Atomic Energy Act of 1954, as amended, requiring the Uranium Enrichment Activity to recover the cost of its operations when setting prices to be charged to its customers. Also, DOE's actions concerning its new utility services contract were not in compliance with applicable statutory principles. UEA did not amend its pricing criteria as required by the Atomic Energy Act, as amended. Consequently UEA did not comply with the 45-day notification to the appropriate congressional oversight committees as also required by the act

  1. Louisiana State University System General Purpose Financial Statements and Independent Auditor's Reports as of and for the Year Ended June 30, 1998, with Supplemental Information Schedules.

    Science.gov (United States)

    Louisiana State Legislative Auditor, Baton Rouge.

    This report presents results of a financial audit of the Louisiana State University (LSU) system. The auditors also rendered opinions on financial statements of separate, incorporated foundations which oversee the investment of various university endowments, the financial statements for which were prepared by other auditors. An accompanying letter…

  2. “Lamfalussy Architecture” – A Model for Consolidating the Financial Markets’ Supervision

    Directory of Open Access Journals (Sweden)

    Nicolae Dardac

    2008-08-01

    Full Text Available The enhancement of convergence in the supervisory practices, both by increasing the quality of the legal framework and of the regulations in the field of financial services and by improving the consultation process, represents a prerequisite for setting up the Single Market for financial services at EU level. In order to reach this goal a new approach, known as “Lamfalussy Architecture”, has been developed. The implementation of this model will increase the efficiency of the regulatory and supervisory framework within the financial markets, by removing the obstacles in the way of their integration into the Single Market. At the same time, setting up an EU Single Market implies a thorough monitoring of the financial stability through a constant review of the regulatory and supervisory framework.

  3. [Saskatchewan Fund for environmental problems]. Annual report and financial statements 1996--1997

    International Nuclear Information System (INIS)

    1997-01-01

    This gives the annual report of the Fund, established by the Provincial Government in 1989 to replace the well deposit system and to provide the government with a means to address unique oil and gas related environmental problems. The Fund guarantees the proper drilling, completion and abandonment of wells, including surface restoration, and allows the government to respond to a major spill or environmental problem when liability for the problem cannot initially be determined. This report describes the purpose of the Fund, and summarizes its activities. A financial statement is included

  4. Making sense of the disclosure of latent defects in financial statements and company acquisition contracts

    Directory of Open Access Journals (Sweden)

    Cornelius Killian

    2011-05-01

    Full Text Available This paper analyses the statement made by the South African Appeal Court Judge Holmes in the Phame v Paizes (1973 case and, using economic and unique South African legal principles, it examines the true legal nature of a contract to regulate company acquisitions.1 Two solutions are offered for financial managers in South Africa: (1 the contract to regulate company acquisitions is a forward contract and (2 the difficulty in identifying latent defects should not be grounds for reducing the price paid for a company or enterprise in the South African legal system.

  5. Report of the State Auditor. State Colleges in Colorado. Financial, State-Funded Student Financial Assistance Programs, and NCAA Audits. Fiscal Year Ended June 30, 1995.

    Science.gov (United States)

    Barba, J. David

    The results of a Colorado State audit of the consolidated financial statements are reported, along with the statements of appropriations, expenditures, transfers and reversions for state-funded Student Financial Assistance Programs for the four State Colleges in Colorado for the year ended June 30, 1995. Specific recommendations are given for each…

  6. Impacts of Newly Acquired Items Within Business Combinations on the Items of the Financial Statements

    Directory of Open Access Journals (Sweden)

    Jana Gláserová

    2016-01-01

    Full Text Available This paper is focused on the operations with the company (business combinations. These are those operations that are associated with the formation or dissolution of companies or reorganization of their ownership structure. They are often referred as equity transactions. In the concept of Czech accounting legislation, these are the purchase, sale, investment (deposit of firms or their parts, and various forms of transformation of enterprises. There are analyzed the accounting practices of recording of these issues under the Czech accounting legislation and International Financial Reporting Standards. Consequently there are identified newly acquired assets and liabilities arising directly in connection with the business combinations. In the conclusion of this paper there are examined the effects of different reporting of newly acquired items in the context of business combinations according to Czech accounting legislation and in accordance with International Financial Reporting Standards on the significant items of balance sheet and profit and loss statement from the material and time point of view.

  7. Materiality of misstatements from the perspective of the users of the financial statements - Narrowing the expectation gap between users and auditors

    OpenAIRE

    Rooij, Doris

    2009-01-01

    textabstractMisstatements or omissions in the financial statements are considered material if they could influence the economic decisions of users based on the financial statements. This research presents an empirical research, which provides evidence that a relevant expectation gap regarding materiality of misstatements exists between users of the financial statements and auditors. This gap can mainly be explained by lack of communication. According to the respondents, the expectation gap ca...

  8. Economic valuation of environmental liabilities and disclosure in the financial statements

    International Nuclear Information System (INIS)

    Kosola, M.; Niskala, M.

    2000-01-01

    The objective of this study is to examine procedures the enterprises follow when they have to make provisions for future costs in the clean up of contaminated land. It is not especially easy for an enterprise to make a provision for clean up of contaminated land in its financial statement. Because of research and planning activities and authority procedures the purification measures may be implemented after a long time. In the Study, an up-to-date subject has been dealt with: how to recognize liabilities to clean up contaminated land and how to evaluate and deal with them in the annual accounts. Environmental provisions has been examined by enterprise interviews and with other material. It is probable that the future clean up costs of contaminated land will rise up to several bit/ions of Finnish marks. The enterprises have not vet, however, included these expenditures into their annual accounts. One of the reasons for this is that the guidelines concerning recognition, measurement and disclosure of environmental liabilities in the financial statements are under development. Thus, it would be very important to promote the enterprises' and authorities' awareness of their environmental response. This can be done by research and training, and by publishing written guidelines. (orig.)

  9. Organizational change, and the control the financial statements. The Excandra Company Cia. Ltd. De Machala, Ecuador

    Directory of Open Access Journals (Sweden)

    Víctor Alberto Betancourt-Gonzaga

    2017-04-01

    Full Text Available Operability in business economy has a determinant in controlling the financial statements; which to a fractured situation require organizational changes to provide corrective measures asymmetries in the flow of financial consequences of economic assets with which the organization operates; look to change responds to epistemological foundations of economic science to install theoretical vision modalities presenting business issues. The purpose of the study is to systematize an interpretation of the modalities of organizational change in relation to the economy, which makes it functional as a communication control system and resize its use in improving the company in Ecuador. The methodological strategy is based on the literature review, it plays an observation, and critical to the statements of the interviewees and their arguments. Conflicting spaces where make the changes correspond to a lack of staff responsibilities; the failure of the work; breaches of rules as causes of fraud; the interpretation of a manual accounting procedures are an effect of the limits set by the economic practice, is a solution within the relative autonomy of internal control.

  10. Fiscal Year 2015 U.S. Government Financial Statements: Need to Address the Governments Remaining Financial Management Challenges and Long Term Fiscal Path

    Science.gov (United States)

    2016-04-06

    financial statements;  accrual costs incurred by the federal government and certain financial risks that could affect the federal government’s...goals.26  The effective implementation of DOD’s planned Enterprise Resource Planning ( ERP ) systems is considered by DOD to be critical to the...in implementing its planned ERP systems on schedule and within budget and experiences significant operational problems, such as deficiencies in data

  11. THE IMPORTANCE OF CONTINUOUS AUDIT OF FINANCIAL STATEMENTS OF THE COMPANY OF COUNTRIES JOINING THE EU

    Directory of Open Access Journals (Sweden)

    SLOBODAN POPOVIĆ

    2015-06-01

    Full Text Available Approaching the Republic of Serbia the EU, an increasing number of operations of Management Company must comply with the laws and regulations of the EU. One of the most important task is to manage companies and do the job of auditing of financial reporting companies. There are two established types of audits. Internal audit work, done throughout the year and external, done by the end of the financial year. Both have an obligation to express opinions, which must have a background in the competence and independence. The scope of the audit, generally speaking depends on the legislation of national economies, then the law governing accounting, and at the end of the law that frames the audit functions. The auditor's opinion is necessary in order to ensure the credibility of financial statements. Considering the focus, audit can be seen as activity of audits essentially activities related to the financial statements that are subject to services performed by certified auditors. An opinion on the financial statements of companies are included in the audit reports. They are prepared and certified by independent auditors. The revision in the economic terminology means testing of accounting statements of business enterprises. Internal audit work is done throughout the year, but external to the end of the financial year. Both have an obligation to express opinions, which must have a background in competence. Auditing activities are performed independently, objectively and with a great deal of independence in the work, by internal and external authorized auditors, so that they can provide the necessary information to the users of audit reports. Internal auditing can be seen in the two main ranges. The first is within the company in which some processes are functioning the same. Another scope is wide level, including observation of the wider society and the state, and includes observation of the entire public sector of a country. This mode of operation of the

  12. Internal Controls and Compliance With Laws and Regulations for the Defense Finance and Accounting Service Working Capital Fund Financial Statements for FY 1998

    National Research Council Canada - National Science Library

    1999-01-01

    The Chief Financial Officers Act of 1990, as amended by the Government Management Reform Act of 1994, requires financial statement audits by the Inspectors General and prescribes the responsibilities...

  13. First half financial report; Rapport semestriel

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2003-06-30

    Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)

  14. Recommendations from the External Auditors to the CERN Pension Fund Management on the Financial Statements of the Pension Fund for the Financial Year 2014 and Comments from the CERN Pension Fund Management Supreme Audit Office of Poland

    CERN Document Server

    2015-01-01

    Recommendations from the External Auditors to the CERN Pension Fund Management on the Financial Statements of the Pension Fund for the Financial Year 2014 and Comments from the CERN Pension Fund Management Supreme Audit Office of Poland

  15. The financial techniques for the determination of fair value, their application in the financial statements and the possible repercussions for the companies

    Directory of Open Access Journals (Sweden)

    Blanca Iris Vega Castro

    2014-10-01

    Full Text Available This paper examines recent international accounting standards, issued by the IASB and FASB, which refer to the measurement and disclosure of fair value. We identify measurement techniques and approaches applied by companies in different countries.We also analyze the application of measurement criteria and approaches recently suggested for determining fair value in financial statements and the possible implications for businesses.

  16. Department of Energy`s Uranium Enrichment Decontamination and Decommissioning Fund fiscal year 1997 financial statement audit

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-08-21

    This report presents the results of the independent certified public accountants` audit of the Department of Energy`s Uranium Enrichment Decontamination and Decommissioning Fund (D&D Fund) financial statements as of September 30, 1997. The auditors have expressed an unqualified opinion on the 1997 statement of financial position and the related statements of operations and changes in net position and cash flows. The 1997 financial statement audit was made under provisions of the Inspector General Act (5 U.S.C. App.) as amended, the Government Management Reform Act (31 U.S.C. 3515), and Office of Management and Budget implementing guidance. The auditor`s work was conducted in accordance with generally accepted government auditing standards. To fulfill our audit responsibilities, we contracted with the independent public accounting firm of KPMG Peat Marwick LLP (KPMG) to conduct the audit for us, subject to our review. The auditors` report on the D&D Fund`s internal control structure disclosed no reportable conditions. The auditors` report on compliance with laws and regulations disclosed one instance of noncompliance. This instance of noncompliance relates to the shortfall in Government appropriations. Since this instance was addressed in a previous audit, no further recommendation is made at this time. During the course of the audit, KPMG also identified other matters that, although not material to the financial statements, nevertheless, warrant management`s attention. These items are fully discussed in a separate letter to management.

  17. Is Capitalization of Operating Lease Way to Increase of Comparability of Financial Statements Prepared in Accordance with IFRS and US GAAP?

    OpenAIRE

    Hana Bohušová

    2015-01-01

    The paper is concerned with an evaluation of possibilities of companies using operating lease and prepared financial statements under IFRS or US GAAP comparison. The data of non-financial companies listed on the Prague Stock Exchange and reporting information on operating lease in accordance with IAS 17 are used. The study presents the impact of operating lease capitalization on companies’ financial statements and financial analysis ratios. The results show a negative impact of operating leas...

  18. IMPROVING FINANCIAL ANALYSIS OF ORGANIZATIONS IN ORDER TO PREVENT THEIR INSOLVENCY

    Directory of Open Access Journals (Sweden)

    V. N. Alferov

    2012-01-01

    Full Text Available The current regulatory analysis of the financial condition of insolvent organizations have some disadvantages also does not account the features of the analysis based on the consolidated financial statements under IFRS and GAAP. In this work on the basis of the comparative analysis of financial condition of a number of large Russian companies, calculated on their accounting statements prepared under Russian accounting standards, IFRS and GAAP, proposals are developed to improve the analysis of financial condition of insolvent institutions.

  19. IMPROVING FINANCIAL ANALYSIS OF ORGANIZATIONS IN ORDER TO PREVENT THEIR INSOLVENCY

    Directory of Open Access Journals (Sweden)

    V. N. Alferov

    2013-01-01

    Full Text Available The current regulatory analysis of the financial condition of insolvent organizations have some disadvantages also does not account the features of the analysis based on the consolidated financial statements under IFRS and GAAP. In this work on the basis of the comparative analysis of financial condition of a number of large Russian companies, calculated on their accounting statements prepared under Russian accounting standards, IFRS and GAAP, proposals are developed to improve the analysis of financial condition of insolvent institutions.

  20. CONSOLIDATION POLICY: PAST, PRESENT AND FUTURE APPROACHES TO THE CONCEPT OF CONTROL

    Directory of Open Access Journals (Sweden)

    Ienciu Alin Ionel

    2010-07-01

    Full Text Available Preparing consolidated financial statements has been a common practice for groups of companies around the world for a relatively long time, going back one century in the USA and tens of years in different European countries.A far-reaching issue regarding consolidation accounting policy is the concept of control, as it holds a crucial role in determining the basis of consolidation and the applicable method of consolidation and subsequently in influencing the content of the group financial statements. We focus in our article on the concept of exclusive control as it is approached by the relevant International, American and European standards, casting light also on possible future developments of this concept. The objective of our study is to acknowledge the differences and similarities between the approaches to the control concept, closing with the presentation of the influences of these approaches on the basis of consolidation.

  1. EDF - 2007 results, 2007 Financial report

    International Nuclear Information System (INIS)

    Gadonneix, Pierre

    2008-01-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2007 annual results and Consolidated financial statements of the Group at 31 December 2007: Consolidated income statements; Consolidated balance sheets; Consolidated cash flow statements; Changes in consolidated equity; Notes to the consolidated financial statements: Group accounting standards; Summary of the principal accounting and valuation methods; Public electricity distribution concessions in France and concession agreements for other activities; Comparability; Significant events and transactions of 2007 and 2006; Changes in the scope of consolidation; Segment reporting; Sales; Fuel and energy purchases; Other external expenses; Contractual obligations and commitments; Personnel expenses; Other operating income and expenses; Impairments / reversals; Other operating income and expenses; Financial result; Income taxes; Goodwill; Other intangible assets; Property, plant and equipment operated under French public electricity distribution concessions; Property, plant and equipment operated under concessions for other activities; Property, plant and equipment used in generation and other tangible assets owned by the Group; Investments in companies accounted for under the equity method; Current and non-current financial assets; Inventories, including work-in-process; Trade receivables; Other receivables; Cash and cash equivalents; Held-for-sale assets and liabilities; Equity; Provisions; Specific French public electricity distribution concession liabilities for existing assets and assets to be replaced; Current and non

  2. RISK-ASSESSMENT PROCEDURES AND ESTABLISHING THE SIZE OF SAMPLES FOR AUDITING FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Daniel Botez

    2014-12-01

    Full Text Available In auditing financial statements, the procedures for the assessment of the risks and the calculation of the materiality differ from an auditor to another, by audit cabinet policy or advice professional bodies. All, however, have the reference International Audit Standards ISA 315 “Identifying and assessing the risks of material misstatement through understanding the entity and its environment” and ISA 320 “Materiality in planning and performing an audit”. On the basis of specific practices auditors in Romania, the article shows some laborious and examples of these aspects. Such considerations are presented evaluation of the general inherent risk, a specific inherent risk, the risk of control and the calculation of the materiality.

  3. Competitiveness analysis on the grounds of information from the annual financial statements of the enterprise

    Directory of Open Access Journals (Sweden)

    Ivanova Rositsa

    2010-01-01

    Full Text Available Competitiveness is a category which is innate in every economic subject. It shows itself in the conditions of market competition. Between competition and competitiveness objectively exist mutual relations and dependence. The presence of competition is a prerequisite for rise of competitiveness and for its manifestation in the real business. In the scientific literature, there is no synonymous definition of the nature of competitiveness. This paper represents an attempt at systematization of the views on this scientific issue. The methodology and the methods of competitiveness analysis should be based on a system of methods. The purpose of this paper is to present possibilities for use of information from the annual financial statements of the enterprises for analysis of their competitiveness by taking into consideration the legislative decisions and the specific business conditions in the Republic of Bulgaria. .

  4. U.S. Government Financial Statements: FY 2000 Reporting Underscores the Need to Accelerate Federal Financial Management Reform

    National Research Council Canada - National Science Library

    Walker, David

    2001-01-01

    .... In passing the 1990 Chief Financial Officers (CFO) Act and other financial management reform legislation, such as the Government Management Reform Act and the Federal Financial Management Improvement Act (FFMIA...

  5. U.S. Transportation Command's Reporting of Property, Plant, and Equipment Assets on the FY 2000 DoD Agency-Wide Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul

    2001-01-01

    .... The accuracy of the $78 billion of property, plant, and equipment reported on the FY 2000 DoD Agency-Wide Financial Statements is essential to DoD receiving favorable audit opinions on its financial statements. The U.S...

  6. Materiality of misstatements from the perspective of the users of the financial statements - Narrowing the expectation gap between users and auditors

    NARCIS (Netherlands)

    D. de Rooij (Doris)

    2009-01-01

    textabstractMisstatements or omissions in the financial statements are considered material if they could influence the economic decisions of users based on the financial statements. This research presents an empirical research, which provides evidence that a relevant expectation gap regarding

  7. Accounting conservatism in Europe : Insights in the degree of balance sheet conservatism and earnings conservatism in financial statements of European companies during the period 1991-2005

    NARCIS (Netherlands)

    R. Brouwer (Remco)

    2009-01-01

    textabstractThis study investigates how the degree of accounting conservatism in the financial statements of European companies evolves over time during period 1996-2005. This study concludes that the financial statement information of European companies shows a certain degree of balance sheet

  8. Profitability and efficiency of Italian utilities: cluster analysis of financial statement ratios

    International Nuclear Information System (INIS)

    Linares, E.

    2008-01-01

    The last ten years have witnessed conspicuous changes in European and Italian regulation of public utility services and in the strategies of the major players in these fields. In response to these changes Italian utilities have made a variety of choices regarding size, presence in more or less capital-intensive stages of different value chains, and diversification. These choices have been implemented both through internal growth and by means of mergers and acquisitions. In this context it is interesting to try to establish whether there is a nexus between these choices and the performance of Italian utilities in terms of profitability and efficiency. Therefore statistical multivariate analysis techniques (cluster analysis and factor analysis) have been applied to several ratios obtained from the 2005 financial statement of 34 utilities. First, a hierarchical cluster analysis method has been applied to financial statement data in order to identify homogeneous groups based on several indicators of the incidence of costs (external costs, personnel costs, depreciation and amortization), profitability (return on sales, return on assets, return on equity) and efficiency (in the utilization of personnel, of total assets, of property, plant and equipment). Five clusters have been found. Then the clusters have been characterized in terms of the aforementioned indicators, the presence in different stages of the energy value chains (electricity and gas) and other descriptive variables (such as turnover, number of employees, assets, percentage of property, plant and equipment on total assets, sales revenues from electricity, gas, water supply and sanitation, waste collection and treatment and other services). In a second round cluster analysis has been preceded by factor analysis, in order to find a smaller set of variables. This procedure has revealed three not directly observable factors that can be interpreted as follows: i) efficiency in ordinary and financial management

  9. Informational Capacity of the Financial Statements of Brazilian Banks: An Analysis from the Perspective of Liquidity Risk

    Directory of Open Access Journals (Sweden)

    Orleans Silva Martins

    2012-12-01

    Full Text Available This study aims to analyze the financial statements of Brazilian banks, from the perspective of liquidity risk by exploring whether the Statements of Cash Flows and Notes to these companies meet the requirements concerning the dissemination of liquidity risk demands by IFRS 7 and the principles of the Basel Committee. Additionally, we investigated whether the coefficients of box cover these companies, calculated from the DFC, show some respect to compliance with those requirements. For that, was raised a theoretical framework about liquidity and liquidity risk, and the role of DFC and Notes before the disclosure of information relating to liquidity. Accordingly, an exploratory study was conducted with the 28 companies that comprise the Banks segment of the BM&F Bovespa, through its financial statements for the year 2009. The main results indicate a low capacity of these informative statements about the situation and liquidity risk, given that only 60.71% of the requirements contained in the standards were met. Still, we conclude that the mere fact that it has good cash coverage ratios is not a necessary condition to be among the companies that meet the disclosure requirements of the situation and liquidity risk, or vice versa. Thus, even when companies have good liquidity indicators, the information required by the IASB and the BCBS has not been disclosed in its financial statements.

  10. Teaching the Indirect Method of the Statement of Cash Flows in Introductory Financial Accounting: A Comprehensive, Problem-Based Approach

    Science.gov (United States)

    Brickner, Daniel R.; McCombs, Gary B.

    2004-01-01

    In this article, the authors provide an instructional resource for presenting the indirect method of the statement of cash flows (SCF) in an introductory financial accounting course. The authors focus primarily on presenting a comprehensive example that illustrates the "why" of SCF preparation and show how journal entries and T-accounts can be…

  11. 7 CFR 4290.1220 - Requirement for RBIC to file financial statements at the time of request for a draw.

    Science.gov (United States)

    2010-01-01

    ... the time of request for a draw. 4290.1220 Section 4290.1220 Agriculture Regulations of the Department... financial statements at the time of request for a draw. (a) If you submit a request for a draw against your... SBA Form 468. (b) You will not be eligible for a draw if you are not in compliance with this § 4290...

  12. Notification: Background Investigation Services Audits of EPA’s Fiscal Year 2015 FIFRA and PRIA Financial Statements

    Science.gov (United States)

    Projects #OA-FY16-0080 and #OA-FY16-0079, February 8, 2016. EPA OIG plan to begin audits of the EPA's fiscal year (FY) 2015 financial statements for the Pesticides Reregistration and Expedited Processing Fund (FIFRA) and Pesticide Registration Fund (PRIA).

  13. 76 FR 40908 - Notice of Issuance of Statement of Federal Financial Accounting Standards 41, Deferral of the...

    Science.gov (United States)

    2011-07-12

    ... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial Accounting Standards 41, Deferral of the Effective Date of SFFAS 38, Accounting for Federal Oil and Gas... Than Oil and Gas AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice. Board Action...

  14. Credit risk disclosure in the annual financial statements of Bulgarian banks

    Directory of Open Access Journals (Sweden)

    Anita Atanassova

    2018-05-01

    Full Text Available The paper analyzes the credit risk disclosure in the annual financial statements of Bulgarian banks for 2015 and 2016. Banks are ranked according to the level of credit risk disclosure, in accordance with the requirements of international accounting regulations and in relation to financial and regulatory ratios linked to capital adequacy. As a result of the conducted empirical study, it is concluded that banks' management is not particularly inclined to make full disclosures and actively to declare internal qualitative and quantitative information. However, the level of disclosure of credit risk for banks in Bulgaria is high. Banks with a low degree of capital adequacy tend to make a more complete disclosure of credit risk, and vice versa. There were no indications of a link between the size of the bank assets, the existence of the bank as a public company and the disclosure of credit risk. We believe that, in the context of increased competition, the disclosure of credit risk from a formal requirement may become one of the many tools to stabilize the position of certain banks and create a positive image of the bank for public information users.

  15. The Impact of The Quality of Financial Statements on Local Revenue Using Examination Opinion Results as Moderating Variable

    Directory of Open Access Journals (Sweden)

    Arik - Susbiyani

    2017-02-01

    Full Text Available Abstract   This study aimed to examine the influence of the financial statements on local revenue by using the results of the examination opinion as moderating variable. The study used Legitimacy Theory to explain and analyze the relationship between variables. The population in the study was all the districts and cities in Indonesia totaling 497 county and city governments. The sampling method used in the study was judgment sampling. Samples that met the criteria of the study were 116 local governments. The analytical tool used in this research was the analysis of MRA (Moderated Regression Analysis. The results showed that the effects of the partial test of the quality of financial reports to local revenues were not significant positive effects. While the partial test results stating the influence of audit opinion on local revenue having positive effects were not significant. Other results showed that the interaction between the results of the examination opinion to the quality of financial statements was  insignificant on the quality of financial statements. In other words, the results of the examination opinions moderated (strengthened the relationship between quality of financial report on local revenue of district and city governments in Indonesia.

  16. 75 FR 8771 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving...

    Science.gov (United States)

    2010-02-25

    ... to furnish, upon the written request of the other member, a statement of its financial condition as...-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Order Approving Proposed Rule Change To Adopt FINRA Rule 2261 (Disclosure of Financial Condition) in the Consolidated FINRA Rulebook...

  17. 75 FR 475 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of...

    Science.gov (United States)

    2010-01-05

    ... member, a statement of its financial condition as disclosed in its most recently prepared balance sheet...-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Adopt FINRA Rule 2261 (Disclosure of Financial Condition) in the Consolidated FINRA Rulebook...

  18. EDF - 2006 full-year results, 2006 Financial report

    International Nuclear Information System (INIS)

    Gadonneix, Pierre

    2007-04-01

    As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2006 annual results and Consolidated financial statements of the Group at 31 December 2006: Consolidated income statements, Consolidated balance sheets, Consolidated cash flow statements, Changes in consolidated equity, Notes: Group accounting policies, Summary of accounting and valuation methods, Public distribution concessions in France, Comparability, Significant events and transactions of 2006 and 2005, Changes in the scope of consolidation, Segment reporting, Sales, Fuel and energy purchases, Other external expenses, Contractual obligations and commitments, Personnel expenses, Other operating income and expenses, Impairments / reversals, Other income and expenses, Financial result, Income taxes, Goodwill, Other intangible assets, Property, plant and equipment, Investments in companies accounted for under the equity method, Financial assets, Inventories including work-in-process, Trade receivables, Other receivables, Cash and cash equivalents, Held-for-sale assets and liabilities, Equity, Provisions, Special concession liabilities, Current and non-current financial liabilities, Derivatives, Other liabilities, Contribution of joint ventures, Related parties, Environment, Subsequent events, Transition to standards IAS 32 and 39 concerning financial instruments, Scope of consolidation

  19. 78 FR 52197 - Office of the Assistant Secretary for Financial Resources, Statement of Organization, Functions...

    Science.gov (United States)

    2013-08-22

    ... the accounting center, OPDIV, and Department's financial system change management to ensure accounting... Operating Division specific accounting and financial management system investments; and (7) Advises the DASF... for financial management policy and standards, internal controls, statutory financial reports and...

  20. School-Public Library Services within a Community; Problems & Questions on Consolidation. A Policy Statement. Bulletin No. 6539.

    Science.gov (United States)

    Wisconsin State Dept. of Public Instruction, Madison. Div. of Library Services.

    Wisconsin state library, school library, and public school agencies advise against the consolidation of school and public libraries as a response to budget pressures. Adult library use generally declines under such arrangements. Inequity of support for various geographical areas could result. In addition, legal questions concerning the use of…

  1. ACCOUNTING AND FINANCIAL INFORMATION - THE FOUNDATION OF STRUCTURING FINANCIAL STATEMENTS AND THEIR FUNDAMENTAL ROLE IN CREATING THE DEVELOPMENT STRATEGY OF COMPANIES

    Directory of Open Access Journals (Sweden)

    Igor ZDRAVKOSKI

    2010-12-01

    Full Text Available Scope of the economies of countries and manner of operation in various business entities and institutions creates the amount and importance of information as a whole. Diversity of the structure of information conceives the method and the need for its distribution to those who are interested in it. Hence, the question arises - how to get to the right information? Consumers in order to create their goals and tasks group themselves and search through the pile of information and data for anything that would enable better planning and creating a more secure future. Therefore, accounting managers perceive this very accurately and carefully conceive balance reports by inserting financial data and information that form the bedrock in their future structuring. Namely, the creating of financial statements provides disclosure of accounting and financial information for certain business transactions and actions of the company in a given period.

  2. Report: Nevada Drinking Water State Revolving Fund Financial Statements with Independent Auditor's Report

    Science.gov (United States)

    Examination of the balance sheet of the Nevada Drinking Water State Revolving Fund Program as of June 30, 2001, the related statement of revenues, expenses, and changes in retained earnings, and the statement of 2001 cash flows.

  3. A comparative study of financial data sources for critical access hospitals: audited financial statements, the Medicare cost report, and the Internal Revenue Service form 990.

    Science.gov (United States)

    Ozmeral, Alisha Bhadelia; Reiter, Kristin L; Holmes, George M; Pink, George H

    2012-01-01

    Medicare cost reports (MCR), Internal Revenue Service form 990s (IRS 990), and audited financial statements (AFS) vary in their content, detail, purpose, timeliness, and certification. The purpose of this study was to compare selected financial data elements and characterize the extent of differences in financial data and ratios across the MCR, IRS 990, and AFS for a sample of nonprofit critical access hospitals (CAHs). Line items from AFS of 47 CAHs were compared to data reported in the hospitals' MCR and IRS 990s. Line items were based on 9 financial indicators commonly used to assess hospital financial performance. Of the indicators examined, the equity financing ratio most frequently matched between the 3 reports, while salaries and benefits to total expenses and debt service coverage were often different. Variances were driven by differences in individual account balances used to construct the ratios. Relative to AFS, cash was frequently lower on the IRS 990 while marketable securities and unrestricted investments were often higher. Other revenue and net income were consistently lower on the MCR and IRS 990, and depreciation was often higher on the MCR. The majority of total assets and fund balance (equity) values matched across the 3 reports, suggesting differences in classification among detailed accounts were more common than variances between the component totals (total assets, total liabilities, and fund balance). Health policy researchers should consider the impact of these variances on study results and consider ways to improve the availability and quality of financial accounting information. © 2012 National Rural Health Association.

  4. Harmonizing and consolidating the measurement of patient-reported information at health care institutions: a position statement of the Mayo Clinic

    Directory of Open Access Journals (Sweden)

    Eton DT

    2014-02-01

    Full Text Available David T Eton,1,2 Timothy J Beebe,1,2 Philip T Hagen,3 Michele Y Halyard,4 Victor M Montori,1,5 James M Naessens,1,2 Jeff A Sloan,6 Carrie A Thompson,7 Douglas L Wood1,81Division of Heath Care Policy and Research, Department of Health Sciences Research, 2Mayo Clinic Robert D. and Patricia E. Kern Center for the Science of Health Care Delivery, 3Department of Preventive, Occupational, and Aerospace Medicine, Mayo Clinic, Rochester, MN, 4Department of Radiation Oncology, Mayo Clinic, Scottsdale, AZ, 5Knowledge and Evaluation Research Unit, 6Division of Biomedical Statistics and Informatics, Department of Health Sciences Research, 7Division of Hematology, Department of Medicine, 8Center for Innovation, Mayo Clinic, Rochester, MN, USAAbstract: Patient-reported outcomes (PROs capture how patients perceive their health and their health care; their use in clinical research is longstanding. Today, however, PROs increasingly are being used to inform the care of individual patients, and document the performance of health care entities. We recently wrote and internally distributed an institutional position statement titled "Harmonizing and Consolidating the Measurement of Patient-Reported Outcomes at Mayo Clinic: A Position Statement for the Center for the Science of Health Care Delivery". The statement is meant to educate clinicians, clinical teams, and institutional administrators about the merits of using PROs in a systematic manner for clinical care and quality measurement throughout the institution. The present article summarizes the most important messages from the statement, describing PROs and their use, identifying practical considerations for implementing them in routine practice, elucidating potential barriers to their use, and formulating strategies to overcome these barriers. The lessons learned from our experience – including pitfalls, challenges, and successes – may inform other health care institutions that are interested in

  5. 77 FR 19666 - Office of Financial Resources; Statement of Organization, Functions, and Delegations of Authority

    Science.gov (United States)

    2012-04-02

    ... Departmental Chief Financial Officer (CFO), Chief Acquisition Officer (CAO) and Performance Improvement Officer... their policy role in resource allocation and decisions affecting financial, grants and procurement... DEPARTMENT OF HEALTH AND HUMAN SERVICES Office of the Secretary Office of Financial Resources...

  6. Principles of Prudential in Ifrs Financial Statements and Its Effect on Earnings Response Coefficient and Profit Management

    OpenAIRE

    Suryani, Arna; Herianti, Eva

    2016-01-01

    The purpose of this study is to determine the effect of prudential principle of financial statements in IFRS on earnings response coefficients and profit management of manufakturing companies. This study uses analytical methods Partial Least Square (PLS) through analisys software called Smart PLS 2.0 M3. The object of this research is manufacturing companies in Indonesia with a total of 57 analysis unit manufacturing company during the period from 2013 to 2015.Based on the results of the stud...

  7. Applying Department of Defense Financial Statement Guidelines to the Naval Postgraduate School

    National Research Council Canada - National Science Library

    Flannery, Robert

    2002-01-01

    .... The financial information system capabilities and limitations are explained, showing how NPS accounts for the financial transactions during its operations and how these transactions are captured...

  8. Naval Petroleum and Oil Shale Reserves Combined Financial Statements September 30, 1994 and 1993 and Management Overview and Supplemental Financial and Management Information

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1994-12-31

    This report presents the results of the independent certified public accountant`s audit of the Department of Energy`s (Department) Naval Petroleum and Oil Shale Reserves (NPOSR) financial statements as of September 30, 1994. The auditors have expressed an unqualified opinion on the 1994 statements. Their reports on the NPOSR internal control structure and on compliance with laws and regulations, and management letter on addressing needed improvements are also provided. NPOSR consists of petroleum reserves in California and Wyoming, and oil shale reserves in Colorado and Utah. The Government`s interests in NPOSR are managed by the Department through its headquarters office in Washington, D.C. In addition, the Department has site offices in both California and Wyoming that are responsible for contractor oversight functions. Daily operations are conducted under contract by two management and operating contractors. By law, NPOSR was authorized to produce crude oil at the maximum efficient rate for six years. The law allowed production to be extended for three year periods, provided that the President of the United States certified that continued maximum production was in the best interest of the nation. The current three year period ends on April 5, 1997. Additional information about NPOSR is provided in the overview and notes to the financial statements.

  9. Accounting Entries Made in Compiling the FY 2000 Financial Statements for the Working Capital Funds of the Air Force and Other Defense Organizations

    National Research Council Canada - National Science Library

    2001-01-01

    .... This audit is one in a series of audits of department-level accounting entries made by the Defense Finance and Accounting Service in preparing the FY 2000 financial statements for DoD reporting entities...

  10. Internal Controls and Compliance With Laws and Regulations for the FY 1996 Financial Statements of the "Other Defense Organizations" Receiving Department 97 Appropriations

    National Research Council Canada - National Science Library

    1997-01-01

    The overall audit objective was to assess internal controls and compliance with laws and regulations and to review and evaluate the adjustments to the FY 1996 "Other Defense Organizations" financial statements...

  11. Supplementary Report on Audit of Internal Control Systems Related to the Office of the Secretary of Transportation's Financial Statements for Fiscal Years 1994 and 1995

    Science.gov (United States)

    1997-01-24

    The internal controlrelated objectives for our audits of the Office of the Secretary of Transportation's (OST) Financial Statements for Fiscal Years (FY) 1994 and 1995 were to determine whether OST and the Federal Transit Administration (FTA) (i) had...

  12. Inspector General, DoD, Oversight of the Army Audit Agency Audit of the FY 2000 Army Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    2001-01-01

    Our objectives were to oversee the Army Audit Agency audit of the FY 2000 Department of the Army Working Capital Fund financial statements to verify whether we can rely on their work and to determine...

  13. Inventory Accounts on the Financial Statements of the Defense Logistics Agency Business Areas of the Defense Business Operations Fund for FY 1993

    National Research Council Canada - National Science Library

    Young, Shelton

    1994-01-01

    The objectives of the audit were to: Determine whether the inventory accounts on the FY 1993 financial statement of the Fund are presented fairly in accordance with generally accepted accounting principles, Evaluate the internal control...

  14. Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the Jewish War Veterans of the United States of America, Incorporated for Fiscal Years 1999 and 1998

    National Research Council Canada - National Science Library

    Steinhoff, Jeffrey

    2000-01-01

    As requested, we reviewed the audit reports covering the financial statements of the Jewish War Veterans of the United States of America, Incorporated, a federally chartered corporation, for the years...

  15. Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Navy Club of the United States of America for Fiscal Year 1998

    National Research Council Canada - National Science Library

    2000-01-01

    As requested, the General Accounting Office (GAO) reviewed the audit report covering the financial statements of the Navy Club of the United States of America, a federally chartered corporation, for the fiscal year ended July 31, 1998...

  16. Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the National Federation of Music Clubs for Fiscal Years 1999 and 1998

    National Research Council Canada - National Science Library

    Steinhoff, Jeffrey

    2000-01-01

    As requested, we reviewed the audit reports covering the financial statements of the National Federation of Music Clubs, a federally chartered corporation, for the fiscal years ended June 30,1999 and 1998...

  17. Financial Statements of the Defense Logistics Agency Reutilization and Marketing Service Business Area of the Defense Business Operations Fund for FY 1994

    National Research Council Canada - National Science Library

    1995-01-01

    The objectives of the audit were to determine whether the DRMS Statement of Financial Position, as of September 30, 1994, was presented fairly in accordance with Office of Management and Budget Bulletin...

  18. ANDRA - National Radioactive Waste Management Agency. Activity report 2006. Management report - Financial statements 2006

    International Nuclear Information System (INIS)

    2007-06-01

    Created in 1979 within the CEA, the National Radioactive Waste Management Agency (ANDRA) was established by the December 1991 Waste Act as a public body in charge of the long-term management of all radioactive waste, under the supervision of the Ministry of Ecology, Energy, Sustainable Development and the Sea (formerly the Ministry of Industry and the Ministry of Environment), and the Ministry of Research. Its 3 basic missions were extended and their funding secured through the 2006 Planning Act: - a R and D mission to propose safe long-term solution for radioactive waste without current disposal system; this mission includes long-term storage, since the 2006 Planning Act, in order to propose interim solutions while final ones are being studied; - an industrial mission concerning, on one hand, waste acceptance criteria and control and, on the other hand, siting, construction, operation, closure and monitoring of repositories. This mission includes as well a public service mission in terms of i) collection of waste of the 'small-scale nuclear activities' producers or owners (including the so-called 'household' radioactive waste, i.e. waste owned by private individuals) and ii) clean-up and rehabilitation of orphan polluted sites; - an information mission, notably through the regular publication of the National Inventory of radioactive materials and waste. This mission includes as well an active policy of dialogue with stakeholders both at national and local level. This document is the activity report with the management and financial statements report of the Andra for the year 2006

  19. The Consolidated Standards of Reporting Trials (CONSORT) Statement applied to allergen-specific immunotherapy with inhalant allergens: a Global Allergy and Asthma European Network (GA(2)LEN) article.

    Science.gov (United States)

    Bousquet, Philippe J; Calderón, Moisés A; Demoly, Pascal; Larenas, Désirée; Passalacqua, Giovanni; Bachert, Claus; Brozek, Jan; Canonica, G Walter; Casale, Thomas; Fonseca, Joao; Dahl, Ronald; Durham, Stephen R; Merk, Hans; Worm, Margitta; Wahn, Ulrich; Zuberbier, Torsten; Schünemann, Holger J; Bousquet, Jean

    2011-01-01

    Randomized trials provide evidence to inform treatment decisions. The Consolidated Standards of Reporting Trials (CONSORT) Statement is a set of recommendations for the reporting of trials. We sought to assess the quality of reporting allergen-specific immunotherapy trials according to CONSORT criteria. The reporting of the procedure, randomization, dropouts, strict conduct of intention-to-treat (ITT) analysis, and sample size calculation according to CONSORT were assessed in the 46 subcutaneous and 48 sublingual immunotherapy (SLIT) blind, placebo-controlled randomized trials published between 1996 and 2009 in English. One subcutaneous immunotherapy (2.2%) and 3 SLIT (6.6%) trials met CONSORT Statement criteria. These were used for the registration of sublingual tablets to the European Medicines Agency. In subcutaneous immunotherapy, 16 (35%) studies reported a CONSORT flow chart, and 12 (26%) provided a description of dropouts. Adequate randomization was reported in 9 (35%) studies, and incomplete randomization was reported in 15 (33%). Power analysis was reported in 15 (33%) studies. In SLIT, 20 (42%) studies reported a CONSORT flow chart, and 16 (32%) a description of dropouts. ITT analysis was carried out in 1 (2.2%) SLIT study, and a modified ITT analysis was used in 1 (2.2%) subcutaneous immunotherapy study and 2 (4.4%) SLIT studies. Adequate randomization was reported in 6 (12%) studies, and incomplete randomization was reported in 16 (32%). Power analysis was reported in 15 (27%) studies. As in other areas of medicine, the quality of reporting of most immunotherapy trials is low, and only 4.2% of SLIT randomized controlled trials met all of the criteria of the CONSORT Statement. Use of the CONSORT criteria should be encouraged. Copyright © 2010 American Academy of Allergy, Asthma & Immunology. Published by Mosby, Inc. All rights reserved.

  20. Assessment of adherence to the statistical components of consolidated standards of reporting trials statement for quality of reports on randomized controlled trials from five pharmacology journals

    Directory of Open Access Journals (Sweden)

    Sachin Satpute

    2016-01-01

    Full Text Available Background: The Consolidated Standards of Reporting Trials (CONSORT statement is a device to standardize reporting and improve the quality of controlled trials. However, little attention is paid to the statistical components in the CONSORT checklist. The present study evaluates the randomized controlled trials [RCTs] published in five high impact pharmacology journals with respect to its statistical methods. Methods: Randomized Controlled Trials [RCTs] published in the years 2013 & 2014 in five pharmacology journals with high impact factor, The Journal of Clinical Pharmacology (JCP, British Journal of Clinical Pharmacology (BJCP, European Journal of Clinical Pharmacology (EJCP, Journal of Pharmacology & Pharmacotherapeutics (JPP and Indian Journal of Pharmacology (IJP were assessed for adherence to the statistical components of CONSORT statement. Results: Of the 174 RCTs analysed, 103 described the method of sample size calculation. Of the five journals, maximum reports in JCP (34/50 and minimum in IJP (13/31 adhered to the CONSORT checklist [item 7a-sample size calculation]. Most reports mentioned the statistical methods used for analysis of data. (171/174 as per the checklist [item 12=statistical methods used]. Analysis of variance (ANOVA was the most commonly used test (88/174. The software used for statistical analysis was mentioned in 111 RCTs and SPSS was used more frequently (58/111. The exact p value was stated in 108 reports. Certain errors in statistical analysis were also noted (40/174. Conclusion: These findings show inconsistencies and non- adherence to the statistical components of the CONSORT statement especially with respect to sample size calculation. Special attention must be paid to the statistical accuracy of the reports.

  1. Alaska Power Administration combined financial statements, schedules, and supplemental reports, September 30, 1997 and 1996 with independent auditors` report thereon

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-04-01

    The Alaska Power Administration (APA) will continue to encourage economic and industrial development in Alaska through implementing the sale of APA assets in a manner consistent with the authorizing legislation while balancing all the stakeholders` interests. Alaska Power Administration will provide their employees opportunities for successful career transitions and conduct an efficient transfer of assets and closeout of APA, while continuing to provide customers reliable, low-cost hydroelectric energy during the transition. The attached report presents the results of the independent certified public accounts` audit of the Alaska Power Administration`s (APA) combined power system statements of assets; Federal investment and liabilities; and the related combined statements of revenues, expenses and accumulated net revenues, and cash flows. The auditors` reports on APA`s internal control structure and compliance with laws and regulations disclosed no reportable conditions or instances of noncompliance. Based on the unqualified opinion of the independent public accounting firm of KPMG Peak Marwick LLP and review of their audit work, the authors believe the financial statements fairly present the financial condition and results of the operations of APA for the period under audit.

  2. Western Area Power Administration combined power system financial statements, September 30, 1996 and 1995 (with independent auditors` report thereon)

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-04-01

    This report presents the results of the independent certified public accountants` audit of the Department of Energy`s Western Area Power Administration`s (Western) combined financial statements as of September 30, 1996. The auditors have expressed an unqualified opinion on the 1996 statements. The auditors` report on Western`s internal control structure disclosed two new reportable conditions and discussed the status of an unresolved condition from prior years. The new conditions involved the write-off of aging accounts receivable and the understatement of interest expense for inactive construction work orders. These reportable conditions are not considered to be material weaknesses. Western concurred with the audit recommendations and is responsible for necessary corrective actions. The auditors also considered the overview and performance measure data for completeness and material consistency with the basic financial statements as noted in the internal control report. The report also disclosed an additional reportable condition directed to the Bureau of Reclamation (Reclamation) which is not considered to be a material weakness. Reclamation concurred with the audit recommendation and is responsible for necessary corrective action. The auditors` report on Western`s compliance with laws and regulations disclosed two new instances of noncompliance involving interest charges on all construction costs funded with Federal appropriations and other capitalized costs. The report also discussed the status of one instance of noncompliance from prior years. Western provided concurrence and corrective action plans for all of these instances of noncompliance.

  3. Value Relevance of Consolidated Earnings -- Evaluation of Japanese Revolution and a New Proposal by FASB --

    OpenAIRE

    Takashi Obinata

    2006-01-01

    In 2000, the reform of consolidated financial statements changed the income statement section where amortization of goodwill and gains and losses from interest method should be disclosed. The results in this paper show that the reform may improve the value relevance of operating profits and ordinary income. We cannot find the evidence that the reform decreases the relevance of the multi-step earnings. Though we cannot definitively conclude that the reform was the best way for improving the va...

  4. Report: Fiscal Years 2015 and 2014 Financial Statements for the Pesticide Registration Fund

    Science.gov (United States)

    Report #17-F-0315, July 10, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the PRIA Fund accurately reflect the agency’s financial activities and balances.

  5. Report: Fiscal Years 2015 and 2014 Financial Statements for the Pesticides Reregistration and Expedited Processing Fund

    Science.gov (United States)

    Report #17-F-0314, July 10, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the FIFRA Fund accurately reflect the agency’s financial activities and balances.

  6. Report: Fiscal Years 2016 and 2015 Financial Statements for the Pesticide Registration Fund

    Science.gov (United States)

    Report #17-F-0365, August 14, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the PRIA Fund accurately reflect the agency’s financial activities and balances.

  7. Report: Fiscal Years 2016 and 2015 Financial Statements for the Pesticides Reregistration and Expedited Processing Fund

    Science.gov (United States)

    Report #17-F-0364, August 14, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the FIFRA Fund accurately reflect the agency’s financial activities and balances.

  8. Report: Fiscal Years 2014 and 2013 Financial Statements for the Pesticides Reregistration and Expedited Processing Fund

    Science.gov (United States)

    Report #16-F-0322, September 22, 2016. Due to the material weakness in internal controls noted, EPA cannot provide reasonable assurance that financial data provided for the FIFRA Fund accurately reflect the agency’s financial activities and balances.

  9. 13 CFR 108.1220 - Requirement for NMVC Company to file financial statements at the time of request for a draw.

    Science.gov (United States)

    2010-01-01

    ... file financial statements at the time of request for a draw. 108.1220 Section 108.1220 Business Credit... request for a draw. (a) If you submit a request for a draw against SBA's Leverage commitment more than 90... financial condition since your last filing of Form 468. (b) You will not be eligible for a draw if you are...

  10. CONVERSION OF FOREIGN COMPANIES ACCOUNTS IN THE ACCOUNT CONSOLIDATION PROCESS IN ROMANIA UNDER THE CLOSING RATE METHOD

    Directory of Open Access Journals (Sweden)

    Mariana BANUTA

    2017-12-01

    Full Text Available The article approaches a topical theme of debate both in the professional academic environment and especially in the economic practice, i.e. the manner of converting the accounts of foreign companies in the account consolidation process, in Romania. We analyse the conditions of applying the accounting regulations related to the consolidation of accounts, in Romania, focusing on the manner of converting the accounts of the foreign companies according to Order no. 1802/2014 approving the accounting regulations on individual annual financial statements and consolidated annual financial statements and to the International Financial Reporting Standards (IFRS. We focused on the presentation of the practical method of applying the conversion of the accounts of the foreign companies according to the closing rate method, because irrespective of the accounting referential applied by the parent company for consolidation, this method occurs in the pre-consolidation stage, if the group leader has affiliates abroad, and the individual financial statements of the companies in the consolidation perimeter have different disclosure currencies.

  11. Disclosure of Financial Statements: A Study on the Level of Accounting Disclosure of Brazilian Soccer Clubs in 2013

    Directory of Open Access Journals (Sweden)

    Alyson Gomes de Souza

    2017-02-01

    Full Text Available The present study sought to analyze adherence to CFC Resolution No. 1429/13 in elaboration and disclosure of Financial Statements by Brazilian clubs. Through a checklist inspired by Raschka, Wallner and Costa (2008, we analyzed this adherence in 2013. We observed that the specific criteria and procedures for the evaluation, accounting records and structuring of the Financial Statements of professional soccer entities 53.04% of the items recommended by CFC Resolution No. 1429/2013. The results pointed that there is a significant variation in the disclosure process between the clubs, which makes it difficult to understand accounting records and assess the shareholders’ equity of soccer clubs. This lack of standardization to the accounting practices in accordance with NBC ITG 2003 complicates any interpretation of accounting records and assessment of the heritage of soccer bodies, increasing the risk of a wrong decision making on the purchase, sale or training players. These decisions affect the club’s finances, and create barriers to investors, since they cannot identify the real situation of the club and calculate investments. Due to the economic importance, cultural and social development of soccer clubs, this study has greatly contributed to the development of a discussion on accounting level disclosure practiced in the club, as this new standard of conduct seeks to maximize the level of accounting disclosure as a requirement for behavioral change of both the leaders and the organizational, economical and financial development of sports entities.

  12. Financial Reporting of Department 97-Funded Property, Plant, and Equipment

    Science.gov (United States)

    2001-01-31

    FINANCIAL REPORTING OF DEPARTMENT 97-FUNDED PROPERTY, PLANT, AND EQUIPMENT Report No. D-2001-039 January 31, 2001...from... to) ("DD MON YYYY") Title and Subtitle Financial Reporting of Department 97-Funded Property, Plant, and Equipment Contract or Grant Number...include financial statements for a reporting entity entitled inOther Defense Organizations-General Fund.lz The entity represents a consolidation of

  13. Western Area Power Administration combined power system financial statements September 30, 1994 and 1993 and management overview and performance measurements

    Energy Technology Data Exchange (ETDEWEB)

    Marwick, P.

    1994-12-31

    The attached report presents the results of the independent certified public accountant`s audit of the Department of Energy`s Western Area Power Administration`s (Western) combined financial statements as of September 30, 1994. The auditors have expressed an unqualified opinion on Western`s 1994 statements. Their reports on Western`s internal control structure and on compliance with laws and regulations are also provided. Western was established in December 1977, and has the responsibility for the Federal electric power marketing and transmission functions in 15 central and western states. Western markets power, as required by existing law, at the lowest possible rates consistent with sound business principles to recover the costs of operation and capital invested in power facilities.

  14. Swap transactions as a financial tool, their recognition as international accounting standard 39 and display in financial statements

    Directory of Open Access Journals (Sweden)

    Ali Kablan

    2013-04-01

    Full Text Available Developments in international financial markets concern both developed countries and developing countries closely. The transactions of institutions arising from of commercial activities display a more complex and more risky state in line with international economic developments. The globalization trend in the world economy, the extreme fluctuations in currencies, interests and product prices have rendered closely following up the developments in financial tools mandatory. Taking advantage of derivative financial tools which increase the revenue of assets by taking future risks into consideration, impact a decrease in debt costs and has the purpose of transferring risks are of vital importance with respect to the successful management of companies. At the present time in which international commerce, free market economy and globalization has gained in importance, one of the derivative products used in risk management and have a wide implementation area is swap transactions. Swap transactions can be expressed as a financial transaction including the exchange of interest, foreign currency or both between two or more parties. Swap transactions in particular are used for purposes such as protection against risks due to interest rates and exchange rates, ensuring low cost financing, changing the debt structure and entering different markets. In this study, the generally defined characteristics of swap transactions, which have an important standing within financial risk management and have been rapidly developing in the world in recent years and their recognition according to the International Accounting Standard 39 concerning the recognition of swap transactions, which has in particular termed the study have been focused on. In the framework of the standard, interest swap and foreign currency swap implementation study were included with respect to the matter.

  15. Department of Energy and Mines, Oil and Gas Revolving Fund financial statements for the year ended March 31, 1992

    International Nuclear Information System (INIS)

    1993-02-01

    The Oil and Gas Revolving Fund of the Saskatchewan Department of Energy and Mines was set up to provide a system of accounting for costs related to regulating and providing certain services to the oil and gas industry. Costs are shared equally by the Department and the industry. The Fund's income from the industry comes from a well levy consisting of annual fees charged to license holders and unit operators of certain types of oil and gas wells. Audited financial statements for the year ending March 31, 1992 are presented

  16. United States Army Annual Financial Statement FY00. The Army in Transformation Responsive to the Needs of the Nation

    Science.gov (United States)

    2000-01-01

    United States Army Annual Financial Statement “The Army in Transformation—Responsive to the Needs of the Nation” The picture of the digitized soldier...mailing the postage paid comment card enclosed at the back of this report. “The Army in Transformation —Responsive to the Needs of the Nation” “The...Army in Transformation —Responsive to the Needs of the Nation” “The Army in Transformation—Responsive to the Needs of the Nation” Table of Contents FY00

  17. 77 FR 47470 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of...

    Science.gov (United States)

    2012-08-08

    ...-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Withdrawal of Proposed Rule Change To Adopt FINRA Rule 2231 (Customer Account Statements) in the Consolidated FINRA Rulebook August 2, 2012. On April 22, 2009, the Financial Industry Regulatory Authority, Inc. (``FINRA'') (f/k/a...

  18. Relationship between risk and transparency in the financial statements of professional services entities

    OpenAIRE

    Mirela Elena Nichita; Marcel VULPOI

    2016-01-01

    The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing). The financial crisis emphasized the limits of financial reporting, which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies. The...

  19. REGRESSION MODEL FOR RISK REPORTING IN FINANCIAL STATEMENTS OF ACCOUNTING SERVICES ENTITIES

    OpenAIRE

    Mirela NICHITA

    2015-01-01

    The purpose of financial reports is to provide useful information to users; the utility of information is defined through the qualitative characteristics (fundamental and enhancing). The financial crisis emphasized the limits of financial reporting which has been unable to prevent investors about the risks they were facing. Due to the current changes in business environment, managers have been highly motivated to rethink and improve the risk governance philosophy, processes and methodologies....

  20. Compilation of the FY 2000 Navy Working Capital Fund Financial Statements

    National Research Council Canada - National Science Library

    Granetto, Paul

    2001-01-01

    .... The previous reports dealt with inventory valuation, problems with a financial feeder system, intragovernmental transactions, and our endorsement of the Naval Audit Service disclaimer of opinion...

  1. The use of fund accounting and the need for single fund reporting by institutional healthcare providers. Principles and Practices Board Statement No. 8. Healthcare Financial Management Association.

    Science.gov (United States)

    1986-06-01

    For many years, hospitals and other institutional healthcare providers used fund accounting as a basis for presenting their financial statements. Recently, authoritative literature has placed less emphasis on separate fund reporting. This is evidenced by the reduction of fund classifications specified in the literature. This trend seems to follow the recognition that institutional healthcare activities should be reported in a manner comparable to other businesses. The Principles and Practices Board (P&P Board) of the Healthcare Financial management Association believes that general purpose financial statements of institutional healthcare providers should be comparable to reporting by other businesses. That is, all assets, liabilities, and equity are presented in a single aggregated balance sheet without differentiation by fund. This form of presentation, referred to in this statement as single fund reporting, should be used by all institutional healthcare providers including those that are part of HMOs, universities, municipalities, and other larger entities when separate reports of the provider are issued. The P&P Board is studying other significant issues concerning the reporting of revenues and components of equity and changes therein. The conclusion in this statement can be implemented even though conclusions on these related subjects are not yet complete. The P&P Board recognizes that certain circumstances may require detailed records and reports for special purposes. This statement deals only with those general purpose financial statements on which an independent accountant's opinion is expressed.

  2. Financial aspects of the consolidation of the US oil and gas industry in the 1980's

    Energy Technology Data Exchange (ETDEWEB)

    1989-05-02

    The US oil and gas industry has made adjustments to the decline in oil prices in the 1980's. These adjustments include the reduction of exploration and development activity, the exiting of companies from the market, and the consolidation of the control of oil and gas reserves by the surviving companies. During the consolidation of the US oil and gas industry in the 1980's, purchases of reserves became prominent as a means of replacing oil and gas production among surviving companies. For the 1982 through 1986 period purchases of proved reserves accounted for 35% of US oil and gas reserve additions by the 22 major petroleum companies (and nearly 40% for independent and major companies combined). By contrast, over the 5-year period 1977 through 1981, only 12% of reserve additions by the majors were gained through purchases. (Data for the independents for 1977 through 1981 are not available.) For the 1982 through 1986 period of declining oil prices, surviving companies tended to fall into two distinct groups: those that depended heavily on reserve purchases to augment their US oil and gas reserves (the high purchase group), and those that relied largely on their own exploration and development efforts to replace their US oil and gas production (the low purchase group). This study investigates economic factors associated with the consolidation of the US oil and gas industry by comparing the characteristics and performance of the high purchase and low purchase groups of companies. Two alternative hypotheses are considered as possible explanations of the driving force for the consolidation. 2 figs., 8 tabs.

  3. Report: Fiscal Years 2014 and 2013 Financial Statements for the Pesticide Registration Fund

    Science.gov (United States)

    Report #16-F-0323, Sept 22, 2016. Due to the material weakness in internal controls noted, EPA cannot provide reasonable assurance that financial data provided for the PRIA Fund for FY 2014 accurately reflect the agency’s financial activities and balances.

  4. TAX IMPLICATIONS OF ADOPTING IFRS FOR STATUTORY FINANCIAL STATEMENT, EMPIRICAL STUDY ON BSE COMPANIES

    OpenAIRE

    Burca Valentin; Cotlet Dumitru

    2013-01-01

    The current context of globalization, financial markets mondialisation, internationalization of production and intensification of international trade relations represents references that justify the need for an international project of reducing international accounting differences between the local accounting referential. Recent developments in the area of financial reports improvements interest devotes international accounting convergence solution as the way forward. Regardless of the approa...

  5. FINANCIAL PERFORMANCE ANALYSIS BASED ON THE FINANCIAL STATEMENTS FOR THE COMPANIES LOCATED IN THE BIHOR - HAJDU BIHAR EUROREGION

    Directory of Open Access Journals (Sweden)

    Droj Laurentiu

    2012-12-01

    Full Text Available This paper will be later used within the Doctoral thesis: “The Mechanism of Financing Investment Projects by Usage of European Structural Funds”, which is currently under development at the University Babeș Bolyai Cluj Napoca, Faculty of Economics and Business Management, under the coordination of the prof. univ. dr. Ioan Trenca. This paper comes also as a result of the European Funded project PERINPRO “Cross-Border Research Programme - Performance Indicators of the Economic Entities from Bihor-Hajdu Bihar Euroregion”. The goal of the project was to identify of a set of common indicators that characterizes companies in the Bihor-Hajdu Bihar Euroregion and which will be used to analyze the financial health of the economic entities in the Euroregion of Hajdu-Bihar- Bihor. The first chapter of the paper will introduce the research and also will present the literature review and the methodological framework: by establishing a common set of indicators for the financial analysis of the companies located in the Bihor-Hajdu Bihar Euroregion. Seven of these indicators considered to be highly important will also briefly described and defined. Some of these indicators are used for the first time in a trans-national analysis over companies located in the Romanian-Hungarian cross border area. In the second chapter the research will be focused over establishing a common ground for usage of the financial reporting documents as basis for the analysis. Several characteristics which differentiate the financial reporting documents from Romania and Hungary will be identified and measures for correction of the values of the indicators will be proposed. This comparative study can be considered an innovation, as well, in the cross-border area since in the past no other studies of this types were performed between Romania and Hungary. The third chapter will be focused over the application of seven identified common indicators to companies based

  6. The valuation of finished products as an important risk factor in the distortion of financial statements 

    Directory of Open Access Journals (Sweden)

    Mariusz Karwowski

    2015-11-01

    Full Text Available The aim of the study was to answer the following questions: 1. Is the correct valuation of products significant from the point of view of economic risk? 2. Are there situations in Polish practice of inaccurate valuations that lead to material misstatements of financial statements? 3. Is there a risk of inaccurate cost information being used by the management of Polish companies? The review of published materials on the topic has shown that inaccuracies in the calculation of indivi-dual product costs, or overlooking the issue of idle capacity, may increase the economic risk of faulty decisions. A survey conducted among Polish companies has demonstrated that, in many cases, cost accounting does not allow for the accurate calculation of individual product costs or the cost of idle capacity. In addition, the research has highlighted the issue of idle capacity in many Polish companies that hold a significant level of inventories. All of this indicates a risk of distortion in financial statements due to the faulty valua-tion of products in the reports of those companies.

  7. Statement of Donald Mancuso Deputy Inspector General Department of Defense Before the Subcommittee on Government Management Information and Technology House Government Reform Committee, United States House of Representatives on Defense Financial Management

    National Research Council Canada - National Science Library

    2000-01-01

    .... Likewise, new statutory requirements for audited annual financial statements caught the Department unprepared and without the automated systems needed to compile commercial type accounting data...

  8. The new requirements relating to going concern evaluation and disclosure provide a critical improvement to the financial statements taken as a whole

    Directory of Open Access Journals (Sweden)

    Achraf A. Seyam

    2016-03-01

    Full Text Available The going concern principle assumes that an entity will continue to exist into the future. This assumption implies that the entity will not be compelled to end their operations, liquidate their assets, or go into bankruptcy. It is an integral assumption in financial statements since it allows for the deferral of recognition of certain expenses until a period of time into the future, when the company is still assumed to exist. Members of management, as well as financial statement auditors, are required to identify signs that could indicate that an entity will not be able to continue their operations into the near future. Some of these signs include a trend of operating losses, loan defaults, legal proceedings against the entity and so forth. The Financial Accounting Standards Board (FASB updated the going concern guidelines so that issuers of financial statements are uniform in frequency and substance of going concern determination. Prior to the Accounting Standards Update, U.S. GAAP lacked sufficient guidance about management’s responsibility to evaluate whether there is substantial doubt of the entity’s ability to continue as going concern. In order to clarify the uncertainty, FASB issued a new financial reporting standard. This new reporting will be in effect for the annual period ending after December 15, 2016. The updated standard will require management to perform annual and interim assessments of an entity’s ability to continue as a going concern for one year from the date of financial statements issuance.

  9. Applying Department of Defense Financial Statement Guidelines to the Naval Postgraduate School

    National Research Council Canada - National Science Library

    Flannery, Robert

    2002-01-01

    The federal government has focused on better business practices by implementing legislature, such as the Chief Financial Officer's Act of 1990, to initiate requirements for federal agencies to produce...

  10. 17 CFR 210.4-08 - General notes to financial statements.

    Science.gov (United States)

    2010-04-01

    ..., options, and other financial instruments with similar characteristics. (ii) Derivative commodity... futures, commodity forwards, commodity swaps, commodity options, and other commodity instruments with... policies for certain derivative instruments. Disclosures regarding accounting policies shall include...

  11. Application of IPSAS Standards to the Vietnamese Government Accounting and Financial Statements

    OpenAIRE

    LE , TRANG THI NHA

    2012-01-01

    The Vietnamese government has implemented a reform of public financial management in a realm of government accounting. The current government accounting regime has met requirements of budget management. However, it provides very little information of financial position and performance. Furthermore, in the context of the increasing international integration and requirements of public sector management reform, the Vietnamese government accounting needs to be improved with applying full accrual ...

  12. THE ROLE OF THE ANNUAL FINANCIAL STATEMENTS IN THE MANAGEMENT OF THE COMPANY

    Directory of Open Access Journals (Sweden)

    AVRAM MARIOARA

    2013-02-01

    Full Text Available The annual financial situations represent the main source of information regarding the financial situation andthe performance of any entity. The public character of the financial situations allows the presentation of theinformation to both the internal users and to the stakeholders too. This piece of information refers to the financialdiagnosis of the entity , the evolution in time and space (as the reports are written and designed for each stage of thepatrimonial elements presented in the balance sheet, the evolution of the income, expenses and the results mentioned inthe profit and loss account.The stakeholders in the private sector (shareholders, investors, clients, suppliers, creditors, banking financialinstitutions and those in the private sector (government, central and local administration analyze the financialsituations published, in a simplified s form, in the Official Monitor before taking any decisions.The general research field of this paper refers to the presentation of the role and structure of the financialsituations as well as a contrastive analysis of the annual financial situations realized by small and medium-sizedcompanies as compared to the one realized by bigger companies.The authors use the theoretical approach to present the structure of the annual financial situations and to provetheir importance in the process of Europeanization and globalization of the economy. The empirical approach has beenchosen in order to compare the two categories of annual financial situations established according to different criteriasuch as size and national legislation.

  13. "Value Relevance of Consolidated Earnings -- Evaluation of Japanese Revolution and a New Proposal by FASB -- "(in Japanese)

    OpenAIRE

    Takashi Obinata

    2006-01-01

    In 2000, the reform of consolidated financial statements changed the income statement section where amortization of goodwill and gains and losses from interest method should be disclosed. The results in this paper show that the reform may improve the value relevance of operating profits and ordinary income. We cannot find the evidence that the reform decreases the relevance of the multi-step earnings. Though we cannot definitively conclude that the reform was the best way for improving the va...

  14. Audit of Provisions and Value Adjustments – a Very Important Objective for the Assessment of Information Comprised in the Financial Statements

    Directory of Open Access Journals (Sweden)

    Cristina IOVU

    2017-04-01

    Full Text Available Any type of entity must show in its financial statements information regarding its significant estimations concerning the future periods and other important sources of uncertainty at the date at which the financial statements are drafted, which presents an increased risk of generating an adjustment of the accounting value of the assets and debts in the future fiscal year. This information must include the nature of the estimations and their accounting value at the date of the balance sheet. The auditing of the financial statements in which accounting estimations are presented frame a high risk of significant distortion. Because of this, the auditor must obtain sufficient audit evidence which would certify if these estimations are reasonable, respectively if the data on which the estimations are based upon are accurate, complete and relevant, and the procedures and methods used for the development of the estimations are adequate for the balance sheet structures to which they apply. The development of provisions, as a manner to reflect uncertainties within the accounting system, contributes to the accurate representation of the company’s financial position. Such uncertainties are acknowledged through the presentation of their nature and value, but also through the exercising of prudence for the development of the financial statements. Prudence implies the identification of those accounting estimations, associated to the given uncertainties conditions, which would not over-evaluate the assets and the incomes, and the debts and expenses would not be under-evaluated. Exercising prudence should not allow, for instance, the accumulation of excessive provisions, the deliberate under-evaluation of assets and incomes, nor the deliberate over-evaluation of debts or expenses. This requirement is imperative, due to the fact that investors substantiate their economic decisions starting from the analysis of the financial statements, as accurate image of the

  15. 17 CFR 210.3-20 - Currency for financial statements of foreign private issuers.

    Science.gov (United States)

    2010-04-01

    ... average of the exchange rates during the period; and all translation effects of exchange rate changes... the reason for the change in the reporting currency shall be disclosed in a note to the financial... issuer shall present supplementary information to quantify the effects of changing prices upon its...

  16. Review Of The Revenue Recognition In Accordance With Statement Of Financial Accounting Standard PSAK No.23 2010 At Damri Corporation

    Directory of Open Access Journals (Sweden)

    Debbie Christine

    2015-08-01

    Full Text Available ABSTRACT One of the components of financial statements that are considered useful to look at the condition of the company namely the income statement. One component of the income statement are income the main problems in accounting revenue is determining when revenue recognition. Activities of the company will be deemed ineffective and inefficient when revenue recognition is not done properly. Therefore the recognition of revenue have been set in PSAK No.232010. According to PSAK 232010 revenue is the gross inflow of economic benefits arising from the normal activities of an entity during a period when those inflows result in increases in equity that is not derived from the contribution of investors. The main income earned Damri Corporation is selling the economic city bus bus with air conditioner and Trans Metro Bandung to society or passengers. Damri Corporation is a State-Owned Enterprises SOEs engaged in the provision of transport services one of them a city bus. Final assignment method used is descriptive method descriptive observational methods that analyze about the condition of the company. Damri Corp. apply accrual basis as for recognizing revenue. Application of revenue recognition is done by Damri Corporation in accordance with PSAK No. 232010 in which revenue is recognized on the basis of PSAK No. 232010. The possibility that the economic benefits associated with the transaction will be obtained by the entity and the amount of revenue can be measured reliably. Revenue Recognition In accordance with PSAK No.232010 at Damri Corporation can be concluded that the basic recording of revenue recognition is used Damri Corporation accrual basis accrual basis of revenue recognition is where the income from the sale of goods or services is recognized in the period of the transaction although cash has not been received by the company the transaction has been recorded and recognized as revenue.

  17. United States Department of Energy, Office of Environmental Management, Uranium Enrichment Decontamination and Decomissioning Fund financial statements, September 30, 1996 and 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-05-01

    The Energy Policy Act of 1992 (Act) established the Uranium Enrichment Decontamination and Decommissioning Fund (D and D Fund, or Fund) to pay the costs for decontamination and decommissioning three gaseous diffusion facilities located in Oak Ridge, Tennessee; Paducah, Kentucky; and Portsmouth, Ohio (diffusion facilities). The Act also authorized the Fund to pay remedial action costs associated with the Government`s operation of the facilities and to reimburse uranium and thorium licensees for the costs of decontamination, decommissioning, reclamation, and other remedial actions which are incident to sales to the Government. The report presents the results of the independent certified public accountants` audit of the D and D Fund financial statements as of September 30, 1996. The auditors have expressed an unqualified opinion on the 1996 statement of financial position and the related statements of operations and changes in net position and cash flows.

  18. The Management of Disinvestment Decision and its Impact on Financial Statements

    Directory of Open Access Journals (Sweden)

    Moisescu Florentina

    2016-07-01

    Full Text Available The political and economic context of the world noticeably influenced, in recent years, the economic development of corporations, causing sometimes resounding failures, forcing businesses to act with caution. In this context, senior management decisions are oriented towards achieving financial stability, even if this implies a stagnation in terms of the financial result and not a constant profit growth. This paper examines the impact of fixed alienation on the entity's financial results, the importance of rational management strategie that lead to the creation of new sources of investment and the timing of disinvestments by applying the Altman model to the Romanian energy companies quoted at BVB. It has been found that the incorrect clasification of assets held for sale, changes the structure of the expenses incurred with the amortization said tangible assets because at the moments of their classification as assets held for sale, assests cease to be amortized. In the case of the failure of the Retail Plan, the recording of the accounting depreciation stops and the asset is being over-evaluated.

  19. THE END OF THE OFF-BALANCE SHEET IN PROJECT FINANCE: A STUDY OF ACCOUNTING ASPECTS IN THE CONSOLIDATION OF SPECIFIC PURPOSE ENTITIES

    OpenAIRE

    Szuster, Natan; Marques, José Augusto Veiga da Costa; Santos, Odilanei Morais dos; Hoory, Rafael; Amaral, Marco Aurélio; Alves, Claudio Ribeiro Rodrigues

    2008-01-01

    With the objective of presenting the main characteristics of project finance and in order to discuss the principal effects of the consolidation of special purpose companies according to Brazilian, International and North-American rules, an exploratory-bibliographical study was carried out, focusing on Petrobras as a primary example. In compliance with CVM Instruction 408/04, public companies are obliged to include SPC in their consolidated financial statements whenever the essence of the rela...

  20. The historical development of the concept of control in financial reporting

    OpenAIRE

    2015-01-01

    M.Com. (International Accounting) The definition of control and the non-consolidation of special purpose entities in group annual financial statements became a topic of concern and focus to investors, securities exchange regulators and accounting professionals after the global financial crisis. The global financial crisis began in 2007 and was caused in part, by investors not being able to access reliable information about the risk levels of entities in which they had invested. Organisatio...

  1. Consolidation of financial statements in the Brazilian Public Sector front of IPSAS: a study of financial reporting in the Aeronautics Command

    OpenAIRE

    Silva, Eduardo de Oliveira

    2016-01-01

    Dissertação de mestrado em Contabilidade A New Public Management é a resposta à falência do Welfare State que, além de dar outro enfoque para a accountabilitity, reforça a adoção das boas práticas do setor privado para o setor público, dentre elas, as alicerçadas práticas da contabilidade, como é o caso da consolidação de contas. Esse cenário faz com que o International Public Sector Accounting Standards Board (IPSASB) passe a ser uma entidade de referência internacional quanto...

  2. Review of the Disabled American Veterans’ Financial Statements for the Year Ended December 31, 1980.

    Science.gov (United States)

    1981-10-15

    financial stmwt ensby GAO. ..... p’" bees.. :. . +X 1 ITAT&_ .In ri|iiiii NW Reqluest for copies of GAO reports diould be sent to: U.S. General Acconting ...additional assessments may be proposed for the years 1974 through 1980. In order to contest the assessments for 1970 through 1973 in the U. S. Court of...amount of refund, if any, that may ultimately result from theaction in the U. S. Court of Claims. or the a~muts of ad -, tional payments, if any, that

  3. IMPROVING THE QUALITY OF THE INFORMATION PRESENTED IN FINANCIAL STATEMENTS BY USING INFORMATION TECHNOLOGY

    Directory of Open Access Journals (Sweden)

    VASILE DUMITRAȘ

    2011-01-01

    Full Text Available Information technology can contribute significantly to business efficiency, including also enterprise governance, through appropriate and effective use. In most cases, it is difficult to determine which technologies are relevant to business needs and the use of appropriate options is not always clear. The development of information society, characterized by integration and automatization of processes and controls, by increased operational security of systems but also increasing dependence on them, and accompanied also by increased requirements of correct and operative information creates the need for new approaches of procedures and financial systems architectures.

  4. Missing Value Imputation Using Contemporary Computer Capabilities: An Application to Financial Statements Data in Large Panels

    Directory of Open Access Journals (Sweden)

    Ales Gorisek

    2017-03-01

    Full Text Available This paper addresses an evaluation of the methods for automatic item imputation to large datasets with missing data in the particular setting of financial data often used in economic and business settings. The paper aims to bridge the gap between purely methodological papers concerned with individual imputation techniques with their implementation algorithms and common practices of missing value treatment in social sciences and other research. Historical methods for handling the missing values are rendered obsolete with the rise of cheap computing power. Regardless of the condition of input data, various computer programs and software packages almost always return some results. In spite of this fact, item imputation in scientific research should be executed only to reproduce reality, not to create a new one. In the review papers comparing different methods we usually find data on performance of algorithms on artificial datasets. However, on a simulated dataset that replicates a real-life financial database, we show, that algorithms different from the ones that perform best on purely artificial datasets, may perform better.

  5. PREDICTIVE VALUE OF THE DEFERRED TAXES GENERATED BY THE SUBVENTIONS FOR INVESTMENTS – ESSENTIAL ELEMENT FOR PRESENTING THE INFORMATION IN THE FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    PALIU – POPA LUCIA

    2015-12-01

    Full Text Available Most information underlying the decision to invest at the level of a company, are provided by the accountancy, this becoming today a common language with respect to the businesses on the international markets, and the accountancy normalization was extrapolated from the national level to the international level, due to the needs concerning the comparability and the transparency of the entities financial statements, without considering the geopolitical area where they were built. These issues justify the approaches for improving both accounting treatments and the procedures for elaborating and presenting data within the financial statements such that the users to benefit from credible and transparent information. One of the major issues arising with respect to the performance of an entity aims to prepare a unique situation on the company performance, namely:“the statement of the comprehensive income”, having as primordial objective the facility of forecasting the performance, within which the deferred taxes generated by the subventions for investments are an essential element with an important predictive value. In this context, starting from the main differences between the provisions of the national, Anglo-Saxon accounting regulations and those of the international reference system with respect to the predictive value of the deferred taxes and continuing with the occurrence and evolution of the deferred taxes generated by the subventions for investments, the study proposes to highlight the predictive value of the deferred taxes generated by the subventions for investments, provided o the users by the information of annual financial statements.

  6. Southeastern Federal Power Program. Combined financial statements, September 30, 1996 and 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-05-01

    The Southeastern Federal Power Program (SEFPP) consists of all activities associated with the production, transmission and disposition of Federal power marketed under Section 5 of the Flood Control Act of 1944 from projects in the ten southeastern states. The ten states are: Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Tennessee, and Kentucky. Power is marketed to customers in 11 states - the above ten plus Illinois. SEFPP includes the accounts of two separate Federal government agencies- the Southeastern Power Administration (Southeastern) of the Department of Energy and the U.S. Army Corps of Engineers (Corps). Southeastern purchases, transmits, and markets power within four separate power systems (each including one or more Corps generating projects for which rates are set). Specific and joint-use costs allocated to power are included in the attached statements of assets. Federal investment and liabilities under utility plant and cash. The accounts of SEFPP are maintained in conformity with generally accepted accounting principles and the Uniform System of Accounts prescribed for electric utilities by the Federal Energy Regulatory Commission (FERC). SEFPP`s accounting policies also reflect requirements of specific legislation and executive directives issued by the applicable government agencies. Southeastern and Corps properties and income are exempt from taxation. Southeastern and the Corps receive Congressional appropriations through the Department of Energy (DOE) and the Department of Defense to finance their operations. The Corps also receives Congressional appropriations to finance construction of its hydroelectric projects.

  7. Is Capitalization of Operating Lease Way to Increase of Comparability of Financial Statements Prepared in Accordance with IFRS and US GAAP?

    Directory of Open Access Journals (Sweden)

    Hana Bohušová

    2015-01-01

    Full Text Available The paper is concerned with an evaluation of possibilities of companies using operating lease and prepared financial statements under IFRS or US GAAP comparison. The data of non-financial companies listed on the Prague Stock Exchange and reporting information on operating lease in accordance with IAS 17 are used. The study presents the impact of operating lease capitalization on companies’ financial statements and financial analysis ratios. The results show a negative impact of operating lease capitalization on financial analysis ratios. The study was motivated by a common effort of the International Accounting Standards Board (IASB and the Financial Accounting Standards Board (FASB to develop the common standard for Lease reporting. In 2013, a joint exposure dra of standard (ED2013/6 Leases was published. Under the new standard, it is required to capitalize all lease agreements over one year. The distinction between operating leases and finance leases should not exist anymore. The study was carried out to demonstrate the potential impact resulting from the proposed adoption of the new accounting standard concerning mandatory capitalization of all lease contracts.

  8. Isotope Production and Distribution Program`s Fiscal Year 1997 financial statement audit

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-03-27

    The Department of Energy Isotope Production and Distribution Program mission is to serve the national need for a reliable supply of isotope products and services for medicine, industry and research. The program produces and sells hundreds of stable and radioactive isotopes that are widely utilized by domestic and international customers. Isotopes are produced only where there is no U.S. private sector capability or other production capacity is insufficient to meet U.S. needs. The Department encourages private sector investment in new isotope production ventures and will sell or lease its existing facilities and inventories for commercial purposes. The Isotope Program reports to the Director of the Office of Nuclear Energy, Science and Technology. The Isotope Program operates under a revolving fund established by the Fiscal Year (FY) 1990 Energy and Water Appropriations Act and maintains financial viability by earning revenues from the sale of isotopes and services and through annual appropriations. The FY 1995 Energy and Water Appropriations Act modified predecessor acts to allow prices charged for Isotope Program products and services to be based on production costs, market value, the needs of the research community, and other factors. Although the Isotope Program functions as a business, prices set for small-volume, high-cost isotopes that are needed for research purposes may not achieve full-cost recovery. As a result, isotopes produced by the Isotope Program for research and development are priced to provide a reasonable return to the U.S. Government without discouraging their use. Commercial isotopes are sold on a cost-recovery basis. Because of its pricing structure, when selecting isotopes for production, the Isotope Program must constantly balance current isotope demand, market conditions, and societal benefits with its determination to operate at the lowest possible cost to U.S. taxpayers. Thus, this report provides a financial analysis of this situation.

  9. Department of Education Information on Consolidation Opportunities and Student Aid. Testimony before the Subcommittee on Human Resources and the Intergovernmental Relations Committee on Government Reform and Oversight, House of Representatives. Statement of Cornelia M. Blanchette, Associate Director, Education and Employment Issues, Health, Education, and Human Services Division.

    Science.gov (United States)

    Blanchette, Cornelia M.

    This report evaluates Department of Education opportunities to consolidate overlapping education programs, to find cost savings, and to strengthen its "gatekeeping" over schools' participation in student financial aid programs. It notes that, besides already proposed program consolidation, other programs that could be streamlined include…

  10. THE USE OF VOLUNTARY DISCLOSURE IN DETERMINING THE QUALITY OF FINANCIAL STATEMENTS: EVIDENCE FROM THE NIGERIA LISTED COMPANIES

    Directory of Open Access Journals (Sweden)

    Oyerogba Ezekiel Oluwagbemiga

    2014-10-01

    Full Text Available The purpose of this study was to establish the use of voluntary disclosure in determining the quality of financial statements among the listed companies in Nigeria. Specifically the study investigated on the effects of voluntary disclosure on investor decision and performance of listed companies in Nigeria. This study adopted anexploratory design which is described as a method of collecting information by interviewing or administering a questionnaire to a sample of individuals. The instrument of data collection for this research was a questionnaire as the study used primary data. The study targeted all the 258 listed companies in Nigeria. The study population used in this research comprised of preparers (accountants, external auditors and users of accounting information (financial analysts, stockbrokers, bankers, regulators and educators. The sample of this study was 140 whereby twenty questionnaires were distributed in every category of the respondents.Descriptive statistics such as mode, median, mean, standard deviation, etc were used to perform data analysis. These measures were calculated using Statistical Package for the Social Sciences (SPSS 20 software. SPSS tool (Statistical Package for the Social Sciences was used to organize and analyze data. The study findings indicated that there was increased performance and investor decision making was easy to makedue to voluntary disclosure. The results indicate that voluntary disclosurewas satisfactory in explaining investor decision making and performance of listed companies. It was possible to conclude from the study findings that voluntary disclosure was statistically significant in explaining investor’s decision and performance of listed companies in Nigeria. It was also possible to conclude that there was high level of voluntary disclosure in Nigeria listed firms which led to high performance of the firms and made it easy for investors to make decision whether to invest in the companies or

  11. APPLICATION OF EUROPEAN STANDARDS OF FINANCIAL STATEMENTS – INFORMATIONAL RESOURSE OF CONSUMER COOPERATION DEVELOPMENT IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Stepan KOSHKAROV

    2016-07-01

    Full Text Available More than 120 countries use the International Financial Reporting Standards (IFRS and the International Accounting Standards (IAS. The Association Agreement between Ukraine and the EU obliges Ukraine to consider European convergence of accounting and reporting. Since 2012 for some entities the use of IFRS has been compulsory, but for others – voluntary. This trend coincides with the imperative necessity of the consumer cooperation of Ukraine to reform its multilevel informational system as a key component of its effective management and successful implementation of controlling. It is proposed to start reforming with the introduction of IFRS and IAS. Consumer cooperation represents cooperative sector of Ukrainian economy and is included into different international and European cooperative associations. With its historic mission to meet the needs of its members, socio-economic and cultural development of rural areas, in terms of the crisis it faces the serious problem of the systemic reforming under existing conditions through the innovative development and use of experience of economically developed countries, especially the EU.

  12. Project of Methodology of Comany´s Financial Statements Transformation in Accordance with the IFRS

    OpenAIRE

    Fejfarová, Eliška

    2014-01-01

    Diplomová práce se zabývá převodem účetní závěrky sestavené podle českých účetních předpisů na účetní závěrku v souladu s IFRS. První část je zaměřena na teoretická východiska týkající se vykazování dle českých účetních předpisů a dle IFRS. Druhá část se zabývá převodem účetní závěrky vybrané účetní jednotky a zhodnocení dopadů aplikace obou systémů vykazování účetních informací na obraz o finanční pozici a výkonnosti podniku. This thesis deals with the translation of the financial stateme...

  13. Naval Petroleum Reserve Number 1 financial statements September 30, 1997 and 1996 (with independent auditors` report thereon)

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-31

    The Naval Petroleum and Oil Shale Reserves (NPOSR) produces crude oil and associated hydrocarbons from the Naval Petroleum Reserve No. 1 (NPR-1) in a manner to achieve the greatest value and benefits to the US taxpayer. As required by the 1996 National Defense Authorization Act, the Department of Energy offered NPR-1 for sale during FY 1997. DOE structured the sale so as to offer two types of ownership segments: one operatorship segment, consisting of 74% of the US interest in NPR-1, and 13 nonoperating segments, each consisting of 2% of the US interest. Potential purchasers could bid on one, some, or all of the segments. If a single purchaser wanted to buy all of the Government`s interest, then its bid would have to exceed the total of the highest bids for all of the individual segments. Bids were due October 1, 1997, at which time DOE received 22 bids from 15 parties acting alone or in concert. The report and management letter present the results of the independent certified public accountants` audits of the Department of Energy`s Naval Petroleum Reserve Number 1 (NPR-1) financial statements as of, and for the years ended, September 30, 1997 and 1996.

  14. U.S. Department of Energy Naval Petroleum and Oil Shale Reserves combined financial statements, September 30, 1996 and 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-03-01

    The Naval Petroleum and Oil Shale Reserves (NPOSR) produces crude oil and associated hydrocarbons from the Naval Petroleum Reserves (NPR) numbered 1, 2, and 3, and the Naval Oil Shale Reserves (NOSR) numbered 1, 2, and 3 in a manner to achieve the greatest value and benefits to the US taxpayer. NPOSR consists of the Naval Petroleum Reserve in California (NPRC or Elk Hills), which is responsible for operations of NPR-1 and NPR-2; the Naval Petroleum Oil Shale Reserve in Colorado, Utah, and Wyoming (NPOSR-CUW), which is responsible for operations of NPR-3, NOSR-1, 2, and 3 and the Rocky Mountain Oilfield Testing Center (RMOTC); and NPOSR Headquarters in Washington, DC, which is responsible for overall program direction. Each participant shares in the unit costs and production of hydrocarbons in proportion to the weighted acre-feet of commercially productive oil and gas formations (zones) underlying the respective surface lands as of 1942. The participating shares of NPR-1 as of September 30, 1996 for the US Government and Chevron USA, Inc., are listed. This report presents the results of the independent certified public accountants` audit of the Department of Energy`s (Department) Naval Petroleum and Oil Shale Reserves (NPOSR) financial statements as of September 30, 1996.

  15. SIMILARITIES AND DISSIMILARITIES BETWEEN THE ROMANIAN PUBLIC ACCOUNTING SYSTEM AND IPSAS 1 – PRESENTATION OF FINANCIAL STATEMENTS

    Directory of Open Access Journals (Sweden)

    Andrei-Răzvan CRIȘAN

    2014-06-01

    Full Text Available Nowadays, the accounting harmonization in the public sector has become a key problem in the accounting world. The need for harmonization is generated by the globalization process, both in the private and public sector. This is the reason why the awareness of international bodies for public sector accounting harmonization is significantly raising. The aim of the paper is to compare the information disclosed by the Romanian legal framework to information disclosed by IPSAS 1 – Presentation of Financial Statements, in order to determine the extent to which Romanian laws took the provisions of this standard that is considered by researchers a significant point of modern accounting. The authors try to establish the extent to which the central Romanian regulations have taken the main provisions from IPSAS 1. The purpose is to discover the similarity degree between these two regulations. This study is useful for the authorities empowered to publish regulations because it helps to determine the most important omissions from IPSAS 1 and find the best solutions for improving the future legislation, in order to be as close as possible to IPSAS.

  16. Analysis of the Amendments to the Independent Auditor's Report Starting with the Auditing of the Financial Statements as at 31.12.2016

    Directory of Open Access Journals (Sweden)

    Mortură Laura-Alexandra

    2017-01-01

    One such example is the amendment of the International Standards on Auditing in 2015, applicable in our country starting with the auditing of the financial statements on 31.12.2016, being an effect of the last economic and financial crisis. Changes have been made following the projects initiated by the International Auditing and Assurance Standards Board (IAASB, aiming at identifying ways to improve the International Standards on Auditing in order to restore the confidence of the intended users in the work of auditors.

  17. Exploring Corporate Social Responsibility in Foreign Bank Branches from Romania: An Empirical Analysis of Public Disclosure of Financial Statements and Banking Audit Reports

    Directory of Open Access Journals (Sweden)

    Attila TAMAS-SZORA

    2015-09-01

    Full Text Available The purpose of this study is to investigate the Corporate Social Responsibility CSR/the Social Responsibility Disclosure SRD reporting practices referring to the published banking financial statements and the published auditors' reports. The study was conducted on the foreign bank branches from Romania and is based on their Romanian language web-sites, that constitute the data for the analysis. The results show that voluntary CSR/SRD concepts to disclose the financial statements and the auditors' reports on the Romanian web-sites were applied only by two from nine foreign bank branches. We plead for a social responsibility of the banks, even if they are foreign bank branches that conduct their activities according to the law from their origin countries. Disclosing the economic outputs via web-site could contribute to a high level of banks' transparency and makes part from the responsibility to society into the Corporate Social Responsibility CSR concept.

  18. Comparing the role of accruals and operating cash flows on users' decisions on financial statements: A case study of Tehran Stock Exchange

    OpenAIRE

    Mohsen Sohrabi Araghi; Sharifaldin Attari

    2013-01-01

    One of the major challenges facing all of individuals and organizations is decision-making based on the information. The issues of priority about cash flows and accruals data in decision-making process for different groups of financial statement users include investors, creditors, shareholders, directors, etc. one of the issues that has been controversial between accrual and cash accounting advocators for a long time. In this study, we survey the role of accruals and operating cash flows in d...

  19. Impacts of Reinsurance Operations on Significant Items of the Financial Statements of Commercial Insurance Companies According to Czech Accounting Legislation and International Accounting Standards

    Directory of Open Access Journals (Sweden)

    Jana Gláserová

    2015-01-01

    Full Text Available The principal aim of the paper is to determine the impact of reinsurance operations in commercial insurance companies, in accordance with the relevant accounting legislation, for certain significant items of the financial statements. In actual fact, the reinsurance operations affect the profit of a commercial insurance company, following the financial statements. The prerequisite for fulfilling the objective of the paper is to analyse the accounting legislation for reinsurance operations in commercial insurance companies. Attention will be devoted also to the method of accounting for reinsurance operations and their specific reporting in various parts of the financial statements of commercial insurance companies. The partial aim of this paper is to identify significant differences in the area of accounting of commercial insurance companies, based on the comparison of accounting practices of the issues examined in accordance with IAS/IFRS. In the conclusion, the authors will address the latest development of necessary steps in adopting the concept of IFRS 4 Phase II and accomplishing the process of the application of IFRS 4 Phase II to the accounts of commercial insurance companies.

  20. Comparing the role of accruals and operating cash flows on users' decisions on financial statements: A case study of Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohsen Sohrabi Araghi

    2013-01-01

    Full Text Available One of the major challenges facing all of individuals and organizations is decision-making based on the information. The issues of priority about cash flows and accruals data in decision-making process for different groups of financial statement users include investors, creditors, shareholders, directors, etc. one of the issues that has been controversial between accrual and cash accounting advocators for a long time. In this study, we survey the role of accruals and operating cash flows in decisions of financial statement users in listed companies on Tehran stock exchange, information content of operating cash flows and accruals in the connection with decision-making criteria used by different groups using financial statement has been examined. In this study, we use eliminating sampling and implied limitations and the sample size includes 203 companies to examine six hypotheses. The results of this research indicate that there is a significant different between accruals and operating cash flows information content in relation to various decision-making criteria but utilizing accruals and operating cash flows supplementary and simultaneously in profit frame depending on the selection criteria may or may not be include information value-added.