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.
Woelfel, Charles J.
Presents ratio analysis of financial statements as a tool applicable for use by nonprofit institutions for evaluation of financial and operational performance of an institution. It can be used as a screening, forecasting, diagnostic, and evaluative tool for administration and governance. (MD)
Mitrović Aleksandra; Knežević Snežana; Veličković Milica
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 performanc...
Financial Statements and accompanying notes provided on .... to good governance principles. there is the risk that ...... responsibilities of the centre's internal auditor includes reviewing internal controls, including accounting and financial.
.... 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...
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.
Kim, Trang Thu
Valuation is the central focus in fundamental analysis. This dissertation considers the usefulness of financial statements in predicting market values of companies in Vietnam stock market by adopting the valuation model constructed by Chung et al., (2001). The overview of Vietnam stock market; some definitions about financial statements, valuation; description of several basis valuation models and empirical evidence including the description of valuation model developed by Chung et al., (2001...
Riordan, Diane A.; Riordan, Michael P.
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…
Danzi, J T; Boom, M L
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.
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
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.
users make on the basis of the financial information. .... IDRC's brand and reputation could impact partner- .... building and to provide internal services in support of the ...... maintains books of accounts, information systems, and financial and management controls that .... The significant accounting policies of the Centre are: a.
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.
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
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.
Tarantino, D P
In his premier column for The Physician Executive, David Tarantino takes a look at those critical "financials" that can make or break a business. If you're considering a career move, you need to know the financial condition of future employers. Learn how to read the statements and glean valuable information from the numbers.
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…
McCarthy, John H.; Turner, Robert M.
This booklet for trustees of higher education institutions offers guidelines to help trustees understand the institution's financial statements. Individual sections describe the three major financial statements and cover topics such as: (1) standards of the Financial Accounting Standards Board; (2) the "statement of financial position,"…
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...
Highlights areas on university's financial statements that warrant careful review by trustees and suggests ways they can check to see whether an institution's financial statements are clear and valid indicators of its financial status. (EV)
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.
Full Text Available Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.
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.
Rajan Gupta; Nasib Singh Gill
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...
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...
S. V. KUCHER
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.
Robinson, Daniel D.
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…
Dalthan Simas; Otavio De Medeiros
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...
Tănase Alin-Eliodor; Calotă Traian-Ovidiu
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 ...
Andrey Nikolayevich Belonogov
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.
Matsuda, S; Murata, H
In order to clarify the financial situation of Japanese private hospitals, the financial statements provided by the Social Welfare and Medical Service Corporation were analyzed for the period from 1982 to 1991. The results clarified the low growth rate and low profitability of the Japanese private hospitals, although their financial situation was relatively stable. However, the efficiency of cost has been stalled in recent years and profitability has been declining due to the low turnover rate of capital. According to the CVP analysis, the Profit volume ratio of the investigated hospitals has been increased to the level of 95%. This situation means that, in the current financial situation, more than half of the Japanese private hospitals will go into the red if revenue declines 5% due to some short term change in the managerial environment.
Farstadvoll, Haakon Simonsen
The purpose of this paper is to estimate the fair value of Aker Solutions ASA per 31.05.2017. The fair value is held up against the market price to make a recommendation as to what investment strategy an external, well-diversified investor should follow. The strategic analysis concludes that Aker Solutions has a potential strategic advantage in the longer term, but faces strong challenges in the market in the short term. A fundamental valuation by a DCF approach is used as the ...
Dalsted, N L
Financial management has emerged as a critical component in the long-term viability of today's ranches and farms. Proper and timely financial reporting and analysis of financial statements are valuable tools that agricultural producers can use to monitor, coordinate, and plan their operational production and marketing schemes and strategies. A side note to preparation of financial statements. With the concerns over lender liability issues associated with statements either assisted with or prepared by a lending officer, agricultural producers will be responsible for preparing their own statements. The lending institutions may prepare their own statements in their assessment of the financial condition of a business and or individual, but, ultimately, the responsibility of financial statements is the borrower's. Some of the material presented in this article provides important input for use in such analytical programs as the National Cattlemen's Association, Integrated Resource Committees, and Standard Performance Analysis (SPA). SPA techniques and associated software have been or currently are under development for cow-calf, stocker, seedstock, and sheep enterprises. Critical to the analysis is having complete and correct financial statements. These analytical programs build on the financial statements. These analytical programs build on the financial statements as recommended by the FFSTF. Proper financial reporting is critical not only to a SPA assessment but also to the overall financial management of today's farms and ranches. Recognizing the importance of financial management in production agriculture is not enough, taking a proactive stance in one's financial plan is paramount to success. Failure to do so will only enhance the exit rates of producers from production agriculture.
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.
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial statements. 3052.310 Section 3052.310....310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements... appropriate, cash flows for the fiscal year audited. The financial statements shall be for the same...
White, Joseph P
Feeling comfortable reading and understanding financial statements is critical to the success of healthcare executives and physicians involved in management. Businesses use three primary financial statements: a balance sheet represents the equation, Assets = Liabilities + Equity; an income statement represents the equation, Revenues - Expenses = Net Income; a statement of cash flows reports all sources and uses of cash during the represented period. The balance sheet expresses financial indicators at one particular moment in time, whereas the income statement and the statement of cash flows show activity that occurred over a stretch of time. Additional information is disclosed in attached footnotes and other supplementary materials. There are two ways to prepare financial statements. Cash-basis accounting recognizes revenue when it is received and expenses when they are paid. Accrual-basis accounting recognizes revenue when it is earned and expenses when they are incurred. Although cash-basis is acceptable, periodically using the accrual method reveals important information about receivables and liabilities that could otherwise remain hidden. Become more engaged with your financial statements by spending time reading them, tracking key performance indicators, and asking accountants and financial advisors questions. This will help you better understand your business and build a successful future.
... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial statements. 41...) AUDITS OF STATES, LOCAL GOVERNMENTS, AND NON-PROFIT ORGANIZATIONS Auditees § 41.310 Financial statements. (a) Financial statements. The auditee shall prepare financial statements that reflect its financial...
Diplomová práce se zabývá problematikou konsolidace účetní závěrky. Práce je členěna na dvě části. První část je zaměřena na sestavení konsolidované účetní závěrky za českou část skupiny podniků. Druhá část se zabývá analýzou výkonnosti sestavené konsolidované účetní závěrky a jednotlivých společností finančními ukazateli. Práce rovněž obsahuje návrhy na zlepšení ekonomické situace holdingu či jednotlivých společností. Master's thesis deals with the consolidation of the financial statement...
Attila Tamas Szora; Iulian Bogdan Dobra
The objective of this paper is to present a comparative analysis of the consolidatedfinancial statements according to the International Financial Reporting Standards or the EuropeanDirectives and see how such accounting alternative affect the explanatory notes to the consolidatedfinancial statements, especially regarding to the revaluation basis of the assets. The study seeks todetermine if the accounting diversity influences the work of the financial auditor. The resultsindicate that the two...
... 7 Agriculture 10 2010-01-01 2010-01-01 false Financial statements. 1212.51 Section 1212.51... 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. 1218.51 Section 1218.51... § 1218.51 Financial statements. (a) As requested by the Secretary, the Council shall prepare and submit financial statements to the Secretary on a periodic basis. Each such financial statement shall include, but...
... 7 Agriculture 10 2010-01-01 2010-01-01 false Financial statements. 1206.41 Section 1206.41... Financial statements. (a) As requested by the Department, the Board shall prepare and submit financial statements to the Department on a periodic basis. Each such financial statement shall include, but not be...
HOWARD VAN AUKEN; KUI YANG
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...
Chen, Li-Wu; Stoner, Julie; Makhanu, Catherine; Minikus, Kathy; Mueller, Keith J
Very few studies have thoroughly examined the discrepancies between the financial information in the Medicare Cost Report (MCR) and that in the audited hospital financial statement (FS). Furthermore, this type of study has never been conducted for rural hospitals. In this policy brief, we present the findings from our study, which used statistical methods to examine the agreement between the MCR and the FS of a series of financial measures in rural hospitals. The results are expected to inform policy makers of the limitation inherent in using MCR data as the single source of data to examine the financial performance of rural hospitals.
The measurement bases of assets and liabilities for financial reporting are basically included: historical cost, replacement cost, net realizable value, value in use, deprival value and fair value. The first part of this study deals with the measurement bases of assets and liabilities for financial reporting. In the second part, the measurement bases for the qualitative characteristics that determine the usefulness of information provided in financial statements areanalyzed.
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. .
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
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...
Newman, James F.
In the development of a course in financial statement analysis, the following procedures were implemented: analysis of new accounting pronouncements, new textbooks, and articles on the topic of financial statement analysis; establishment of goals and objectives for the course; and selection of text and content of the course. The course was…
... 42 Public Health 4 2010-10-01 2010-10-01 false Financial statements. 460.208 Section 460.208... ELDERLY (PACE) Data Collection, Record Maintenance, and Reporting § 460.208 Financial statements. (a... must submit a certified financial statement that includes appropriate footnotes. (2) The financial...
Orlova Tamara Mikhailovna
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.
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
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.
... 7 Agriculture 10 2010-01-01 2010-01-01 false Financial statements. 1209.239 Section 1209.239..., AND CONSUMER INFORMATION ORDER Rules and Regulations General § 1209.239 Financial statements. (a) As requested by the Secretary, the Council shall prepare and submit financial statements to the Secretary on a...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial statements. 4280.140 Section 4280.140... Efficiency Improvements Program Section B. Guaranteed Loans § 4280.140 Financial statements. (a) The... financial statements, at its sole discretion when the Agency is concerned about the applicant's credit risk. ...
may be rendered when the financial statements are p;eaed in full compliance with GAAP , consistently applied. Inadequate disclosures as well as other...a bond payable. A valuation account would be similar to the following: Equipment $18,000,000 Less accumulated depreciation (1o625,000) $16,375,00010...accounting to depreciation accounting.24 The disclosures required are the nature and justification for the change. The justification is necessary to
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...
Margarita S. Ambarchyan
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 charact...
Harold Fletcher; Thomas Ulrich
This paper addresses one of the more difficult topics in teaching MBA level financial management, the statement of cash flows. By employing financial statement equations in preparing the statement of cash flows, students: (1) are employing tools that they are more familiar and comfortable with which mitigates their anxiety and enhances their understanding, (2) are better able to understand the logic of the statement of cash flows and the relationships that exist between it and the income stat...
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.
Margarita S. Ambarchyan
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
.... 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...
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…
Kanapickienė, Rasa; Grundienė, Živilė
Analysis of financial ratios is one of those simple methods to identify frauds. Theoretical survey revealed that, in scientific literature, financial ratios are analysed in order to designate which ratios of the financial statements are the most sensitive in relation with the motifs of executive managers and employees of companies to commit frauds. Empirical study included the analysis of the following: 1) 40 sets of fraudulent financial statements and 2) 125 sets of non-fraudulent financ...
... 29 Labor 1 2010-07-01 2010-07-01 true Financial statements. 99.310 Section 99.310 Labor Office of the Secretary of Labor AUDITS OF STATES, LOCAL GOVERNMENTS, AND NON-PROFIT ORGANIZATIONS Auditees § 99... have separate audits in accordance with § 99.500(a) and prepare separate financial statements. (b...
... 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...
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.
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
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.
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
System, as of September 30, 2009, 2008, 2007, and 2006, and the results of its operations and its cash flow for the years then ended, in conformity with U.S. generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the 2009, 2008, 2007, and 2006 SWFPS’s combined financial statements taken as a whole. The supplementary information in the combining financial statements is presented for purposes of additional analysis and is not a required part of the basic combined financial statements. The supplementary information has been subjected to the auditing procedures applied in the audit of the basic combined financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic combined financial statements taken as a whole.
Full Text Available This paper will be later used within the Doctoral thesis: â€œThe Mechanism of Financing Investment Projects by Usage of European Structural Fundsâ€, 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 â€œCross-Border Research Programme - Performance Indicators of the Economic Entities from Bihor-Hajdu Bihar Euroregionâ€. 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
Maria de Lima e Silva
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.
Hariri, Hariri; Pradana, Ayub Wijayati Sapta; Widjajanti, Sri Luki
This research aims to detect fraudulent financial statements the financial statements of XYZ, PT in the period 2010-2013. This research is a qualitative descriptive research. Data collection techniques used are observation and documentation. Data analysis techniques used are data reduction, data presentation and conclusion with Beniesh M-Score Model. The results showed that the financial statements in the period 2010-2013 as a whole that Beniesh M-Score XYZ, PT reached -3.94 in 2010, 0.70 in ...
Cirstea Andreea; Baltariu Carmen-Alexandra
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 en...
CLAUDIA ISAC; ALIN ISAC
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'...
... 7 Agriculture 12 2010-01-01 2010-01-01 false Audit or financial statements. 1775.21 Section 1775... Audit or financial statements. The grantee will provide an audit report or financial statements as... year. (b) Grantees expending less than $500,000 will provide annual financial statements covering the...
... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Financial Statement. 52....247-6 Financial Statement. As prescribed in 47.207-1(e), insert the following provision in... furnish financial statements: Financial Statement (APR 1984) The offeror shall, upon request, promptly...
... 7 Agriculture 14 2010-01-01 2009-01-01 true Periodic financial statements and audits. 1980.445... Program § 1980.445 Periodic financial statements and audits. All borrowers will be required to submit periodic financial statements to the lender. Lenders must forward copies of the financial statements and...
... Accounts § 250.28 Inconsistent financial statements. Except as otherwise authorized or required by the..., financial statements which are inconsistent with the book accounts of such company or financial statements... prevent the distribution or publication of reasonable condensations or of unaudited financial statements...
Koetter, Nicholas J.; Krause, Daniel J.; Liptak, Carl S.
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 ...
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 ...
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
An increase in concentration of quoted companies on a relatively small number of stock markets requires a better equalisation of financial reporting framework. Globalisation of financial markets requires harmonisation of financial standards. In 1998, an agreement between IOSCO (International Organisation of Securities Commission) and IASC (International Accounting Standards Committee) on application of International Accounting Standards on American stock exchanges was consequently reached. Si...
DUMITRU FRANCA; MORARU MARIA
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 ...
Rogdaki, E.I.; Kazantzis, Ch.
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...
Muthupandian, K S
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...
Orleans Silva Martins
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.
In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...
MIRON Vasile Cristian Ioachim
Full Text Available The qualitative characteristics of accounting information have a major importance in fundamenting stakeholders decisions in order to satisfy their interests. The financial statements, by their nature, provide synthetic information which shows the financial position and its modifications, the economic performance of the entity, the management of resources and other aspects that lead to rational decisions. Stakeholders interests are complex and sometimes divergent, that is why the content of the financial statements must be adapted in order to meet these interests. The present research analyzes how the information presented in the financial statements respond to the needs of the stakeholders. The analysis showed that there are some significant aspects for which the informational power of the financial statements is reduced. Also, using econometric processing, we have conceived a function that characterizes the correlation between the financial profitability of the entities activating in the energy sector and the profitability obtained in the stock exchange market. The conclusions of the research allowed us to propose some measures of improvement of the information from the financial statements, in order to create an adequate informational basis for the decisions of all the categories of stakeholders.
... 7 Agriculture 10 2010-01-01 2010-01-01 false Submission of annual financial statements. 1230.115... Submission of annual financial statements. State Pork Producer Associations, as defined in § 1230.25, that... financial statements prepared by State association staff members or individuals who prepare annual financial...
Babalykova I. A.; Bashkatov V. V.; Barseghyan A. A.
This article explores the concept and the essence of accounting and taxation, as well as their relationship. We have considered such important aspects as AR 18/02 “Accounting for corporate income tax” in the form of accounting (financial) and tax reporting
... statements: selected financial data. 229.914 Section 229.914 Commodity and Securities Exchanges SECURITIES... Transactions § 229.914 (Item 914) Pro forma financial statements: selected financial data. (a) In addition to... statements are required. (c) The pro forma financial statements required by paragraph (b) of this Item (§ 229...
Reinstein, Alan; Luecke, Randall W
The AICPA Accounting and Review Services Committee's (ARSC) SSARS No. 8, Amendment to Statement on Standards for Accounting and Review Services No. 1, Compilation and Review of Financial Statements, issued in October 2000, allows financial managers to provide plain-paper, compiled financial statements for the exclusive use of management. Such financial statements were disallowed in 1979 when the AICPA issued SSARS No. 1, Compilation and Review of Financial Statements. With the issuance of SSARS No. 8, financial managers can prepare plain-paper, compiled financial statements when third parties are not expected to rely on the financial statements, management acknowledges such restrictions in writing, and management acknowledges its primary responsibility for the adequacy of the financial statements.
Corporate financial statements do not include environmental values. This deficiency has contributed to the criticism that company managers do not include environmental impacts in the internal decision-making process. The accounting profession has not developed effective environmental reporting guidelines. This situation contributes to a second problem: the apparent inability of corporate reports to provide useful information to external parties. It has been suggested that by using nonmarket valuation methodologies, financial statements can be used to measure progress toward sustainable development. Nonmarket valuations are not generally accepted by the accounting profession. They are too subjective to support effective decisions, and too costly to obtain. Furthermore, demand for this sort of information appears small. Some of these issues may be resolved over time. The most serious challenge, however, concerns how enhanced financial reports would be used. Financial statements are supposed to help investors assess the amount, timing, and uncertainty of future cash flows. A substantial portion of environmental value is based on nonuse benefits, much of which will never be realized in company cash flows. In other words, the role of financial statements would have to change. Furthermore, since there is no general agreement as to the meaning of "sustainable development," efforts to operationalize the term have been fraught with difficulty. Moreover, monetization of environmental values could jeopardize their preservation, leaving some to question the overall objective of this form of reporting. For these reasons, while it is to be hoped that better reporting of environmental impacts will be forthcoming, the greatest advances will likely be outside the financial statements themselves.
... Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING... INFORMATION ORDER Sorghum Promotion, Research, and Information Order Sorghum Promotion, Research, and Information Board § 1221.113 Financial statements. (a) As requested by the Secretary, the Board shall prepare...
....1010 (Item 1010) Financial statements. (a) Financial information. Furnish the following financial information: (1) Audited financial statements for the two fiscal years required to be filed with the company's... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false (Item 1010) Financial...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Interim financial statements... AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE... ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Article 8 Financial Statements of...
... 7 Agriculture 6 2010-01-01 2010-01-01 false Financial statement and certification. 400.203 Section...-Standards for Approval § 400.203 Financial statement and certification. (a) An entity desiring to become or continue as a contractor shall submit to the Corporation a financial statement which is as of a date not...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Date of financial statements... RULES AND REGULATIONS, SECURITIES ACT OF 1933 General Requirements § 230.417 Date of financial statements. Whenever financial statements of any person are required to be furnished as of a date within a...
... Requirements § 242.58 Books, accounts, and financial statements. (a) Books and accounts. The mortgagor's books...: (i) Annual audited financial statements in accordance with the guidance below; (ii) Quarterly... (if the annual audited financial statement has not yet been filed with HUD) and at such other times as...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Annual financial statements... AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE... ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Article 8 Financial Statements of...
... 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...
... 49 Transportation 7 2010-10-01 2010-10-01 false Review of financial statements. 805.735-24 Section... TRANSPORTATION SAFETY BOARD EMPLOYEE RESPONSIBILITIES AND CONDUCT § 805.735-24 Review of financial statements. (a) The Personnel Officer shall review each statement of employment and financial interests submitted...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Age of financial statements... AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE... ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Article 8 Financial Statements of...
... financial statements, such as a statement of significant accounting policies and practices, details of... degree as allowed in this paragraph) and disclosures required by Statement of Financial Accounting... Financial Accounting Standards Board that requires such change. (7) Any material retroactive prior period...
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
Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firms financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide en bloc.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting
O. V. Uvarova
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.
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.
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
Kunitake, Norifumi; Nagano, Koji; Suzuki, Tatsujiro
In this paper, we analyze past and current cost structure of commercial nuclear power plants in Japan based on annual corporate financial statements published by the Japanese electric utility companies, instead of employing the conventional methodology of evaluating the generation cost for a newly constructed model plant. The result of our study on existing commercial nuclear plants reveals the increasing significance of O and M and fuel cycle costs in total generation cost. Thus, it is suggested that electric power companies should take more efforts to reduce these costs in order to maintain the competitiveness of nuclear power in Japan. (author)
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.
Szora Tamas Atila
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.
... 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...
... 40 Protection of Environment 31 2010-07-01 2010-07-01 true Statement of financial responsibility... From Test Rules § 790.99 Statement of financial responsibility. Each applicant for an exemption shall submit the following sworn statement with his or her application: I understand that if this application...
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...
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
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.
Full Text Available The article is devoted to objective analysis of qualitative characteristics of financial reporting for international and national accounting standards in accenting on the social component of economic activity. Given the market conditions are economic management the article the first time offered a new interpretation of the principle of accounting in view of the social purpose of accounting. The basic differences of qualitative characteristics of financial statements in accordance with national and international accounting standards. The comparison of the old and new orders for financial reporting in terms of enhancing the degree of reflection of accounting information a social nature. As a result the author proposed a new qualitative characteristics of financial reporting «social» will combine the qualitative characteristics which on the recommendation the international standards are not included in the national (essence, honesty, neutrality and expand the social meaning under the mapping of accounting information on accounts, economic operations and financial reporting.
... (Financial Statement); Comment Request AGENCY: Veterans Benefits Administration, Department of Veterans... use of other forms of information technology. Title: Financial Statement, VA Form 26-6807. OMB Control... creditworthiness requirements. The data is also used to determine a borrower's financial condition in connection...
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)
Iuliana Oana Mihai
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.
Thinggaard, Frank; Damkier, Jesper
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......? 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....... The results provide some indication of a decline in the value-relevance of earnings information in the 1984-2001 period, and mixed, but not statistically reliable, evidence for accounting measures where book value information and asset values are also extracted from financial statements. The results seem...
Soguel, N.; Bucher, R.
Whether or not to consolidate financial statements is dealt with in IPSAS#6. This standard is by and large based on IAS#27. It deals with the criterion according to which an entity's financial statements should be considered and which consolidation technique should be used. However, it remains silent when it comes to exposing the reason why a public sector entity should consolidate its financial statements. The literature is almost as silent as IPSAS on this issue. Which means that there is a...
Minnis, Michael; Sutherland, Andrew Gordon
Using a data set that records banks’ ongoing requests of information from small commercial borrowers, we examine when banks use financial statements to monitor borrowers after loan origination. We find that banks request financial statements for half the loans and this variation is related to borrower credit risk, relationship length, collateral, and the provision of business tax returns, but in complex ways. The relation between borrower risk and financial statement requests has an inverted ...
... 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...
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.
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.
.... The Committee's inquiry into this discrepancy resulted in NASA s Chief Financial Officer (CFO) subsequently determining that the information in the audited financial statements was in error by about $644 million...
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.
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...
O. V. Rozhnova
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.
Gadonneix, Pierre; Camus, Daniel
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
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.
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.
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
Full Text Available Financial analysis provides the information necessary for decision making, and also helps both the external and internal users of these. The results of the financial analysis work are dependent on the quality, accuracy, relevance and effectiveness of the information collected, and processed. Essential sources of information for financial analysis are financial statements, which are considered the raw material of financial analysis. One of the financial statements -the balance sheet - provides information about assets, liabilities, equity, liquidity, solvency, risk, financial flexibility. The profit and loss account is a synthesis accounting document, part of the financial statement reporting enterprise financial performances during of a specified accounting period and summarizes all revenues earned and expenses of an accounting period and reports the results.
Makanji, Heeren S; Jenis, Louis G
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.
Heinfeld, Gary; Arvizu, C. Christopher; Herrera, Michael L.
Describes experience with certain tools and resources to help school business officials implement the Governmental Accounting Standards Board Statement 34. Focuses on Association of School Business Officials International's new Certificate of Excellence in Financial Reporting guidebook and financial-statement report-writer software called…
... DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900-0047] Proposed Information Collection (Financial Statement); Comment Request AGENCY: Veterans Benefits Administration, Department of Veterans... use of other forms of information technology. Title: Financial Statement, VA Form 26-6807. OMB Control...
... 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...
... 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...
This study sought to establish whether financial statements from Tanzania parastatals were availed on time, and if not, whether the delay was significant. Using the Normal Approximation Rule to test for significance in mean time difference, it was found that parastatals delayed in releasing financial statements. The difference ...
Elda du Toit; Frans N.S. Vermaak
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...
... 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...
... Information Collection: Comment Request; Financial Statement of Corporate Application for Cooperative Housing... information: Title of Proposal: Financial Statement of Corporate Application for Cooperative Housing Mortgage... use: The information collected on the ``Financial Statement of Corporate Application for Cooperative...
... 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...
... 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...
... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial... and Basic Financial Statements AGENCY: Federal Accounting Standards Advisory Board. ACTION: Notice... Federal Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting...
... 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...
... the preparation and submission of consolidated financial statements for the Department based upon the...; (4) Provides financial statement review and analyses for the OPDIV and Department consolidated... the consolidated financial statements; (4) Supports the maintenance and operation of Department...
... in the issuer's consolidated financial statements and not located in a hyperinflationary environment..., Oct. 5, 1999] Consolidated and Combined Financial Statements ... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES...
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.…
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.
...). Specifically, it provides information on the amount of improper payments' that federal agencies reported in their fiscal year 2000 financial statements and identifies some current improper payment...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of... COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES... Financial Statements § 210.3-17 Financial statements of natural persons. (a) In lieu of the financial...
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)
Elena Hlaciuc; Camelia Mihalciuc; Anisoara Apetri
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...
Raziūnienė, Daiva; Verbickaitė, Gintarė
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...
Lee, David C; Van Sertima, Michael A
If your employee benefit plan has more than 100 participants, chances are you've had to work your way through the audited financial statements you're required to include with your Form 5500 filing. These statements contain a wealth of information about the financial health of your plan, and understanding them is an important fiduciary responsibility. To strengthen your grasp of financial statements, this article gives an overview that will make a plan's financial statements more informative, explains their basic structure and provides information on some of the more arcane aspects (such as actuarial tables). While this article focuses on Taft-Hartley (multiemployer) plans, much of it applies to other types of employee benefit plans.
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...
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...
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...
Albrecht, Chad; Holland, Daniel; Malagueño, Ricardo; Dolan, Simon; Tzafrir, Shay
In this paper, we investigate a large-scale financial statement fraud to better understand the process by which individuals are recruited to participate in financial statement fraud schemes. The case reveals that perpetrators often use power to recruit others to participate in fraudulent acts. To illustrate how power is used, we propose a model, based upon the classical French and Raven taxonomy of power, that explains how one individual influences another individual to participate in financi...
This paper aims to present some important aspects of the decision revaluation of tangible assets in the financial statements of the Romanians companies .Reassessment of the assets shows special interest for the beneficiaries accounting information because only a suitable policy will lead to credibility assessment and relevant data financial statements of assets. Although there have been numerous concerns to find optimal pricing model, currently neither practitioners nor researchers have not r...
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 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES... Article 8 Financial Statements of Smaller Reporting Companies § 210.8-04 Financial statements of...
... financial statements. 230.170 Section 230.170 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... certain financial statements. Financial statements which purport to give effect to the receipt and.... The caption of any such financial statement shall clearly set forth the assumptions upon which such...
... EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933... Financial Statements § 210.3-13 Filing of other financial statements in certain cases. The Commission may... investors, permit the omission of one or more of the financial statements herein required or the filing in...
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements covering... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES... General Instructions As to Financial Statements § 210.3-06 Financial statements covering a period of nine...
... omission of unrequired or inapplicable financial statements. 210.4-03 Section 210.4-03 Commodity and... unrequired or inapplicable financial statements. (a) No caption should be shown in any financial statement as to which the items and conditions are not present. (b) Financial statements not required or...
... 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...
consolidated financial statements (governmentwide financial statements ). Unless these...the U.S. government’s fiscal year 2015 consolidated financial statements (governmentwide financial statements ), which is included in the Financial ...Processes Used to Prepare the U.S. Consolidated Financial Statements , GAO-15-630 (Washington, D.C.: July 30, 2015). A detailed discussion of
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)
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)
Gilbert O'Neil Mushure
This work is an analysis of the annual reports of Malaysia Airlines Berhad from 2007 to 2011. Profitability analysis was done on the financial statements of the company from 2007 to 2011. Cash and working capital management analysis were done on the financial statements of 2010 and 2011. It was found that Malaysia Airlines Berhad was constantly suffering from high costs of operations which resulted in consecutive negative gross profit over the years.Net profit remained positive only as a resu...
... 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...
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.
İbicioğlu, Hasan; Kocabıyık, Turan; Dalğar, Hüseyin
This study examines financial information requirement for decision making in small and medium sized enterprises. 131 SME managers’ responses were collected from Turkey and 8 different European countries. According to both Turkish and European managers, financial statements are mostly important to foresee the probable liquidity and financial crisis. And they find experience more important than financial statement data. A comparative analysis of Turkish and European SME managers is stated. Smal...
... 1975 Consolidated and Combined Financial Statements § 210.3A-02 Consolidated financial statements of... consolidated financial statements principles of inclusion or exclusion which will clearly exhibit the financial... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Consolidated financial...
... Information Collection; Comment Request: Financial Statement of Corporate Application for Cooperative Housing... ``Financial Statement of Corporate Application for Cooperative Housing Mortgage'' form provides HUD with... submission of responses. This Notice also lists the following information: Title of Proposal: Financial...
... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial... of Federal Financial Accounting Standard 6, Accounting for Property, Plant, and Equipment AGENCY... Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standard 40, Definitional...
Effect of Professionalism, Competence, Knowledge of Financial Management, and Intensity Guidance Apparatus Inspectorate for Quality of Financial Statements (Study on Inspectorate Regencies/Cities in Aceh
Full Text Available This research aims to: 1. Examine the influence of professionalism, competence, knowledge of financial management and intensity guidance apparatus Inspectorate together to the quality of the financial statements of Regions; 2. Examine the effect of professionalism partially on the quality of the financial statements of Regions; 3. Test the effect of partial competencies to the quality of the financial statements of Regions; 4. Examine the effect of knowledge of financial management partially on the quality of the financial statements of Regions; 5. The authorities test the effects of intensity guidance apparatus partially on the quality of the financial statements of Regions. The object of this research is the Government Internal Supervisory Apparatus (APIP working in the Inspectorate districts/cities in Aceh amounted to 23 people who perform inspection tasks. The source of data in this study uses primary data which is the result of the acquisition of questionnaires from survey respondent, while research data collection techniques are done with documentation techniques. The analytical method used is Multiple Linear Regression Analysis. The results showed that: 1. Professionalism, competence, knowledge of financial management and intensity guidance apparatus jointly affect the quality of financial reporting area. 2. Professionalism partially affects the quality of financial reporting area. 3. Competence partially affects the quality of financial reporting area. 4. Knowledge of financial management partially affects the quality of financial reporting area. 5. The intensity guidance apparatus partially affects the quality of financial reporting area.
Full Text Available Benford's Law is in certain situations, an important instrument to detect deliberate misrepresentation in the financial statements. Benford's Law is empirically derived and verified rule that the numerical data beginning with the digit by any of the groups 1, 2, ...9 appear in the files of large size with a certain probability. The likelihood of occurrence of numerical data in large data files according to the first numbers varies considerably. Numbers beginning with a digit 1 occur with a probability of 30.1%, numbers beginning with a digit 9 appear in this set with a probability of 4.58%. These values can be incorporated into the control procedures for assessing the quality of the reference data set. Various foreign authors have pointed out the possibility of using Benford's Law in examining the quality of primary data in the field of accounting and reporting. The authors investigated the differences between the empirical and theoretical frequency of occurrence of each number beginning with individual digits in financial reporting. Benford's analysis according them is more reliable when applied to the entire set of data. The intention of the article is to point out the possible misrepresentation in the financial statements of the registered entity whose shares are traded on the domestic stock exchange. One of the reasons for the detection of misrepresentation is that investors trust the financial statements of these entities. The research question was whether Benford's Law reveals the possible manipulation of financial statements data. The source data were financial statements of the entity for three years: balance sheet, income statement and cash flow statement. The number of each leading digit was counted and the actual frequency of leading digits to the expected distribution according to Benford's Law was compared. Potential manipulation was calculated by means of Kolmogorov-Smirnov statistics. Results of the analysis are mainly addressed
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 JaccardÃ¢â‚¬â„¢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.
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.
Muda, I.; Dharsuky, A.; Siregar, H. S.; Sadalia, I.
This study examines the pattern of readiness dimensional accuracy of financial statements of local government in North Sumatra with a routine pattern of two (2) months after the fiscal year ends and patterns of at least 3 (three) months after the fiscal year ends. This type of research is explanatory survey with quantitative methods. The population and the sample used is of local government officials serving local government financial reports. Combined Analysis And Cross-Loadings Loadings are used with statistical tools WarpPLS. The results showed that there was a pattern that varies above dimensional accuracy of the financial statements of local government in North Sumatra.
... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Use of financial statements... statements filed under other acts. Where copies of certified financial statements filed under other acts... manually signed or manually signed copies of the certificate shall be filed with the financial statements...
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.
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...
Genu Alexandru Caruntu
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.
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 ...
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.
...) 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...
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...
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...
Reinstein, Alan; Churyk, Natalie Tatiana
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.
Jones, Daniel J.
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…
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…
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…
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…
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…
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…
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…
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…
..., 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...
Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W
... 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...
Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W
.... 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...
Full Text Available In the paper the authors presented the importance of financial reporting system used in financial analysis of IT firms. Thus were presented balance sheet, income statement and cash flows.
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.
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
... Collection; Comment Request; Statement of Financial Interests, Regional Fishery Management Councils AGENCY... days of taking office and must provide updates of their statements at any time any such financial... of a State for [[Page 48150
... 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...
... 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...
... 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...
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.
Full Text Available The role of the audit report is to provide a level of trust to the professional judgment behind the financial statements of a company. The market for audit services is not a homogenous one, and large audit partners known as the Big 4 dominate with their partner networks in both developed and emerging markets. The scientific literature provides a rich background of studies linking auditor affiliation and auditor independence. The current exploratory paper tries to approach the issue of auditor independence and affiliation by drawing on the Ohlson model for a sample of 552 firm-year observations from the Borsa Istanbul, covering the 2014 and 2015 financial periods. The results reveal a strong correlation for the year 2015 between the Big 4 affiliation and the value of the equities, possibly suggesting a correlation between auditor independence and financial statement relevance.
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
Markovitch, J. S.
This article discusses how neural networks and semantic grammars may be used to locate and understand financial statements embedded in news stories received from on-line news wires. A neural net is used to identify where in the news story a financial statement appears to begin. A grammar then is applied to this text in an effort to extract specific facts from the financial statement. Applying grammars to financial statements presents unique parsing problems since the dollar amounts of financi...
... General Instructions As to Financial Statements § 210.3-02 Consolidated statements of income and changes... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Consolidated statements of... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES...
.... With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations...
... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Financial statement and..., PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 Forms, Procedure and Accounts § 250.26 Financial statement and... to form and content of financial statements; and (2) Shall make and keep current accounts, books and...
... 34 Education 3 2010-07-01 2010-07-01 false Compliance audits and audited financial statements. 668... purpose financial statements. (3) Third-party servicers. Except as provided under this part or 34 CFR part... financial statements no later than six months after the last day of the institution's fiscal year. (5) Audit...
... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Form and content of financial statements. 563d... SECURITIES OF SAVINGS ASSOCIATIONS Regulations § 563d.210 Form and content of financial statements. The financial statements required to be contained in filings with the Office under the Act are as set out in the...
... financial statement audit. 715.7 Section 715.7 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION... Committee audit alternatives to a financial statement audit. A credit union which is not required to obtain a financial statement audit may fulfill its supervisory committee responsibility by any one of the...
... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES... Qualifications and Reports of Accountants § 210.2-04 Examination of financial statements of persons other than the registrant. If a registrant is required to file financial statements of any other person, such...
... quarterly financial statements. 107.1220 Section 107.1220 Business Credit and Assistance SMALL BUSINESS... financial statements. As long as any part of SBA's Leverage commitment is outstanding, you must give SBA a Financial Statement on SBA Form 468 (Short Form) as of the close of each quarter of your fiscal year (other...
...Z-Audit: Electronic Submission of Financial Statements and Compliance Audits AGENCY: Federal Student...: Electronic Submission of Financial Statements and Compliance Audits. OMB Control Number: 1845-0072. Type of... to facilitate the submission of compliance and financial statement audits, expedite the review of...
... SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES... Qualifications and Reports of Accountants § 210.2-05 Examination of financial statements by more than one accountant. If, with respect to the examination of the financial statements, part of the examination is made...
... 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...
... FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Issuance of Statement of Federal Financial... Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standard 42, Deferred Maintenance and Repairs, Amending Statements of Federal Financial Accounting Standards 6, 14, 29...
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.
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.
Doina Maria Tilea; Alexandra Ana Maria Serban
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.
Report #2003-1-00045, January 29, 2003. We did not identify any 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.
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.
Muller Victor - Octavian
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
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...
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...
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...
.... This report gives Congress, the Secretary of Defense, the DoD Chief Financial Officer, financial managers, and the audit community an assessment of progress made in audited financial statements of DoD general funds...
Full Text Available This paper presents the results from an analysis of the annual financial statements of public ordinary secondary schools in the Tshwane North District, South Africa. The analysis was done to assess the quality of these annual financial statements as well as the apparent usefulness thereof for the parents of the learners in the school. These users are probably most concerned with the quality and usefulness of information presented to them for providing the necessary assurance that the funds received by the school are properly accounted for and used to the advantage of their children. The results suggest that assurance in this regard is lacking as audits are not done at all, or are of an extremely poor quality. The quality of the financial statements is also poor, with scant regard for Generally Accepted Accounting Practice or the South African Schools Act. Urgent intervention from the Education Departments is needed to ensure that the South African Schools Act is adhered to and that proper audits are conducted by suitably qualified accountants and auditors. The South African Institute for Chartered Accountants (SAICA should also play a more positive role in this regard by ensuring that audit practices are enforced and quality annual financial statements are presented
Full Text Available Explanatory power of accounting information is the key question for deciding of users of financial statements. A whole range of economic indicators is available to the users of financial statements to measure the firm productivity. When the accounting statements (and applied methods are manipulated, the economic indicators may reveal clearly different results. The users of financial statements should have the possibility to assess the risk of manipulation of accounting statements in time considering potential risk of accounting fraud. The aim of this paper was based on the synthesis of knowledge from the review of literature, the CFEBT model analysis and Beneish Model proposing a convenient model for identifying risks of manipulation of financial statements. The paper summarizes the outcomes of possibilities and limits of manipulated financial statements and their identification. The testing hypothesis is assessing whether there is a close relation of a loss and an increase in the cash flow in 3–5 years time; whether the sum of the amounts for 3–5 year’s time would reveal the same results respectively. The hypothesis was verified on the accounting statements of the accounting entities of prepared case studies respecting the true and fair view of accounting based on Czech accounting standards.
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
Elda du Toit
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.
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.
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.
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...
... Proposed Information Collection to OMB Financial Statement of Corporate Applicant for Cooperative Housing.... This notice also lists the following information: Title of Proposal: Financial Statement of Corporate... which HUD determines the cooperative member and group capacity to meet the financial requirements of a...
... (Financial Statement) Activity Under OMB Review AGENCY: Veterans Benefits Administration, Department of... . Please refer to ``OMB Control No. 2900-0047.'' SUPPLEMENTARY INFORMATION: Title: Financial Statement, VA.../assumers meet the creditworthiness requirements. The data is also used to determine a borrower's financial...
... Collection; Comment Request; Statement of Financial Interests, Regional Fishery Management Councils AGENCY... must provide an update of their statements at any time any such financial interest is acquired, or... financial interest in any Council fishery. These interests include harvesting, processing, lobbying...
... Bureau of the Fiscal Service solicits comments concerning the Form FMS-6314 ``Annual Financial Statement... described below: Title: Annual Financial Statement of Surety Companies--Schedule F. OMB Number: 1510-0012... DEPARTMENT OF THE TREASURY Fiscal Service Proposed Collection of Information: Annual Financial...
... 25 Indians 2 2010-04-01 2010-04-01 false Relationship of financial statements to fee assessment..., submitted under 25 CFR part 514, with its audited or reviewed financial statements for each location and... COMPLIANCE AND ENFORCEMENT PROVISIONS MONITORING AND INVESTIGATIONS Audits § 571.14 Relationship of financial...
... 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...
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.
Full Text Available On the basis of deductive considerations applying professional judgement, the article focuses on the additional value of accounting information that can be given to the users of fi nancial statements by a properly prepared statement of cash fl ows. It is based on the fi nding that the professional literature is inconsistent in distinguishing liquidity and profi tability information, and consequently also in distinguishing between the ratios calculated on that basis. It therefore stimulates an improvement in the quality of accounting information with a direct statement of cash fl ows, based on tracing instead of calculating the actual cash fl ow. On the basis of fi nancial statements, including a direct statement of cash fl ows, the ratio analysis of fi nancial statements should be approached from both aspects of profi tability and cash return. The cash fl ow ratios would serve as a control mechanism over the assumptions used when preparing the balance sheet and income statement within the chosen financial reporting framework.
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.
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
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
Stefani Lily Indarto
Full Text Available The accounting scandal became one of the reasons for analyzing financial statements in order to minimize fraud against the financial reporting. Therefore, companies use the services of a public accountant to audit the financial statements of companies that are expected to limit the fraudulent practices that increase the public’s confidence in the company’s financial statements. This study aims to detect fraud by using analysis of fraud diamond . This study takes banking companies listed on the Indonesian Stock Exchange in 2009-2014, with a total sample of 149 banks. Based on the results the external pressure, financial stability and capability have influence on fraudulent financial reporting. While target financial, ineffective monitoring and rationalization does not affect the fraudulent financial reporting
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.”
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.
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...
...; 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...
.... 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...
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...
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.
... statements to verify my net worth, what standards must they meet? (a) Your audited annual financial statements must be bound. (b) Your audited annual financial statements must include the unqualified opinion of an independent accountant that states: (1) The financial statements are free from material...
Full Text Available The paper presents the importance of financial statements in determining the insolvency of a company. The first part of the article presents a case study and the main signals of bankruptcy: negative working capital, negative equity capitals, losses, etc. In the end of the paper we detail issues that are not observable and that are related to the actual management of the company.
.... The Chief Financial Officers Act of 1990 requires the Inspector General, DoD, to audit the financial statements of DoD organizations in accordance with generally accepted Government auditing standards...
... 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...
...) 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...
... 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...
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
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
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Age of financial statements at... FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, PUBLIC UTILITY... POLICY AND CONSERVATION ACT OF 1975 General Instructions As to Financial Statements § 210.3-12 Age of...
Maryam Abulghasemi Komeleh
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.
Duc Tai Do
Full Text Available This research is conducted for evaluating the impact levels of determinants affecting the differences of financial statements of FDI firms under Vietnamese Accounting (VA and International Ac-counting (IAS/IFRS. Data were collected by conducting survey of FDI firms and audit firms for the period from 2015 to 2017. Based on the quantitative data, multiple regression was employed for showing the influence levels of determinants on the variable of differences of financial reports. The results show that seven determinants had positive relationships with the differences of financial statements prepared by FDI under Vietnamese accounting and IAS/IFRS. Based on the findings, some recommendations are given for reducing fee of conversion of financial statements from Vietnamese accounting to international accounting, increasing the comparability of financial statements and improving information quality of financial statements.
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
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Financial statements of... FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, PUBLIC UTILITY... POLICY AND CONSERVATION ACT OF 1975 General Instructions As to Financial Statements § 210.3-16 Financial...
... financial statements of subsidiaries not consolidated and 50 percent or less owned persons. (a) If any of... consolidated financial statements required by §§ 210.3-01 and 3-02. However, these separate financial... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Separate financial statements...
Brady, Richard T.
Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...
... 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 Contained in the AICPA Statement on Auditing Standards and Technical Release 12, Accrual Estimates for Grant...
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5607-N-14] Notice of Proposed Information Collection: Comment Request; Personal Financial and Credit Statement AGENCY: Office of the... Proposal: Personal Financial and Credit Statement. OMB Control Number, if applicable: 2502-0001...
Full Text Available The two accounting systems, the French and Anglo-Saxon, tend to harmonize. We will present the financial statements of Romania, subject to OMFP 3055/2009, in parallel with the Anglo-Saxon accounting system. The issues considered are related to the reference period and the shape, structure and content of financial statements.
The two accounting systems, the French and Anglo-Saxon, tend to harmonize. We will present the financial statements of Romania, subject to OMFP 3055/2009, in parallel with the Anglo-Saxon accounting system. The issues considered are related to the reference period and the shape, structure and content of financial statements.
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.
Hani, Syafrida; UMSU, Hafsah
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 ...
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
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
... 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...
... 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...
... 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...
... 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...
... 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...
... 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...
Full Text Available This research aims to describe the corporations to take restatement in financial statement such as, corporate governance implementation and size of Audit Firm. Corporate Governance and size of Audit Firm are involved in auditing process. Theoretically, those influence the quality of financial statement. The occurrence of restatement of financial reporting is as a proxy for a lower of financial statement quality. Hence, corporate governance and size of Audit Firm should prevent from restated financial statement. The result of this research describe that number of independent commissioner and number of audit committee do not prevent from restated financial statement. In addition, size of Audit Firm is not obvious to increase the quality of financial statement, because there are several of big four audit firms have been appointed by such corporation as external auditor or some of restatements have been done by non-big four. This research describes the composition of independent commissioner, audit committee and also Audit Firms size do not influence directly to restated financial statement.
Roshchektayeva U. Y.
The article deals with the qualitative characteristics of the accounting (financial) statements in accordance with International Financial Reporting Standards: understandability, relevance, reliability and comparability. The article gives a definition of reliability of the accounting (financial) statements as one of the most important quality characteristics that ensure the usefulness of accounting information for a wide range of users. We present main consequences of the lack of consideratio...
Danut Rada; Doina Rada
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 ...
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.
ÖZKUL, Fatma; ALKAN, Betül Şeyma
This study included the analysis of prepared comprehensive financial statements with the transitionto accrual-based accounting system from cash-based accounting system in the public institutionsin 2006. In Turkey, there is no specific method developed to the goals of public institutions. GASB 1Reporting Model, which is a model developed in the USA, and is not yet used in Turkey, has been appliedby taking financial statements data of the Istanbul Metropolitan Municipality. The study was carrie...
Oscar Alfredo Diaz Becerra
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
V. N. Alferov
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.
V. N. Alferov
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.
Mario Díaz Durand
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.
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.
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.
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 pre...
... Annual Statutory Financial Statement be filed. 400.171 Section 400.171 Agriculture Regulations of the... filing an Annual Statutory Financial Statement must, in addition to the requirements of § 400.170 (a), (b), (c) and (d), submit an Annual Statutory Financial Statement audited by a Certified Public Accountant...
... financial statements to verify my unencumbered assets, what standards must they meet? Any audited annual financial statements that you submit must: (a) Meet the standards in § 253.24; and (b) Include a certification by the independent accountant who audited the financial statements that states: (1) The value of...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Requirement for RBIC to file financial statements at... financial statements at the time of request for a draw. (a) If you submit a request for a draw against your... (Short Form), you must: (1) Give the Secretary a financial statement on Form 468 (Short Form), and (2...
... substantially duplicate disclosure elsewhere in the parent company's consolidated financial statements; and (12) Where the parent company's consolidated financial statements are prepared on a comprehensive basis other... included elsewhere in the reconciliation of the consolidated financial statements. [65 FR 51707, Aug. 24...
João Eudes de Souza Calado
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.
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.
National Power owns and operates 35 power stations in England and Wales with a total generating capacity of 26,623 MW, of which 20,460 is coal-fired and the rest oil-fired. 89% of coal supplies have been domestic. Till now Port facilities have been constructed to increase the import of cheaper, lower sulphur content coal with the future objective of taking up to half of supplies from this source. A programme of construction of combined cycle gas turbine (CCGT) stations is underway, with two already being built, planning consent for a third having been obtained and applications submitted for a further two. Supplies of North Sea gas at economic prices have been secured for the next five years. Applications to burn the competitively priced fuel orimulsion at two stations are still being evaluated. Apart from the move to low sulphur coal and the low emission CCGT stations, other major initiatives are being taken to protect the environment in the course of power generation. These include : the installation of flue gas desulphurisation equipment at the largest power station, Drax; investment in special burners to reduce nitrogen oxide emissions; installing of equipment to reduce dust emissions at the largest stations; promotion of energy efficiency encouraging the development of wind power and the conversion of domestic waste into electricity. A summary financial statement is appended to the review showing a pre-tax profit of Pound 514 M for 1991/92, an increase of 18% on 1990/91. (Author)
Diplomová práce se zabývá vytvořením konsolidované účetní závěrky vybrané společnosti. Práce je členěna na dvě základní části. První se věnuje teoretickému východisku a druhá část se zabývá praktickým zpracováním konsolidované účetní závěrky vybrané společnosti, zhodnocením její ekonomické situace a porovnáním s mateřskou společností. The core topic of this master thesis is creation of Consolidated Financial Statement of particular company. I tis divided into two main parts; Firstly, it de...
The second article in a series designed to supplement the introductory financial management course, this essay addresses financial statement analysis, including its impact on stock valuation, disclosure, and managerial behavior. [For "Topics in Finance Part I--Introduction and Stockholder Wealth Maximization," see EJ1060345.
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.
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.
Aim: It explores whether the value relevance of interim financial statements is higher than the value relevance of annual financial statements. Finally, it investigates whether accounting information published in interim and annual financial statements has incremental value relevance. Setting: Data for the period from 1999 to 2012 were collected from a sample of non-financial companies listed on the Johannesburg Stock Exchange. Method: The Ohlson model to investigate the value relevance of accounting information was used for the study. Results: The results show that interim book value of equity is value relevant while interim earnings are not. Interim financial statements appear to have higher value relevance than annual financial statements. The value relevance of interim and annual accounting information has remained fairly constant over the sample period. Incremental comparisons provide evidence that additional book value of equity and earnings that accrue to a company between interim and annual reporting dates are value relevant. Conclusion: The study was conducted over a long sample period (1999–2012, in an era when a technology-driven economy and more timely reporting media could have had an effect on the value relevance of published accounting information. To the best of our knowledge, this is the first study to evaluate and compare the value relevance of published interim and annual financial statements.
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
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.
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...
Report #2005-1-00081, May 4, 2005. We identified the following reportable conditions: We could not assess the adequacy of automated controls. EPA needs to improve financial statement preparation and quality control.
The audit objective was to identify and summarize the major deficiencies that prevented favorable audit opinions on the FY 1997 DoD Financial Statements, and to identify the actions taken or under way...
.... We evaluated the management control structure established for the Trust Fund, and we assessed compliance with applicable laws and regulations that could have a material effect on the financial statements...
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...
... 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...
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...
.... This Bulletin requires the Inspector General, DoD, or an independent auditor, to express an opinion on the DoD financial statements and to report on the adequacy of internal controls and compliance...
Vicky COLE; Joel BRANSON; Diane BREESCH
Reaching higher comparability was one of the main goals of the implementation of the International Financial Reporting Standards (IFRS) in the European Union in 2005. However, national accounting traditions and cultural differences continue to cause differences in the application of IFRS (KPMG & von Keitz, 2006). European IFRS financial statements might therefore be less comparable than users of these statements possibly assume. This study contributes by determining to what extent auditors, a...
Çakmak, S. Serdar
Ankara : Department of Management and Graduate School of Business Administration of Bilkent University, 1996. Thesis (Master's) -- Bilkent University, 1996. Includes bibliographical references leaves 22-24 Announcements of financial statement informations provide valuable signals for investors. There are evidences documenting the changes in trading volume and stock returns at the time of annual and interim financial statement announcements in comparison to those in non-announcement p...
Vesna Vašiček; Verica Budimir; Mirjana Hladika
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...
Mwanaidi, Mari Claire
The purpose of this thesis is to analyse the consolidated financial statements of the government of Rwanda for the year ended 31 December 2008. Two types of accounting are discussed namely, money accounts and accrual (profit) accounts. The aim is to discuss which accounting model is used to prepare the financial statements of Rwanda. We found out that, the accrual accounts (fund accounting) are used in Rwanda to report the money effects of revenues and expenditures. Accordingly, we introduce ...
Shivakumar, L; Ball, R; Li, X
We outline several properties of IFRS that potentially affect the contractibility or the transparency of financial statement information, and hence the use of that information in debt contracts. Those properties include the increased choice among accounting rules IFRS gives to managers, enhanced rule-making uncertainty, and increased emphasis on fair value accounting. Consistent with reduced contractibility of IFRS financial statement information, we find a significant reduction in accounting...
Full Text Available This article is focused on the port concession disclosure of concessionaire financial statements in Bulgaria. The research is based on disclosure index development. The empirical study is based on publicly available information from annual financial statements. The results testify a higher level of disclosure to IFRS adoption entities than the domestic standards entities. There is a need to raise and specify the disclosure requirements for domestic standards applying companies.
... 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...
statements and to report on the adequacy of internal controls and compliance with laws and regulations. We contracted the audit of the FY 2000 Military...performed on the oversight of the audit of the FY 2000 Military Retirement Fund Financial Statements.
Larasati, Aisyah; Hajji, Apif Miftahul
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.
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.
van Dijk, M
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
Full Text Available The return on assets and the return on equity are essential indicators for the assessment of the company performance. They have a rich financial content, but there are many cases where the figure sometimes shows a “prettier” reality. In such cases it is necessary to treat and interpret financial rates with caution, taking into account, at the same time, other methods used in the financial analysis. The objective of this paper is to present a popular financial diagnosis optimization method - the Du Pont financial control system, that has an important role in the financial analysis of the company because it is related to the return on assets and the return on equity of the company as a result of the interaction of several factors synthesized through reports built based on information taken from the annual financial statements.
Full Text Available Accountability of local governments in the implementation of policies should be carried out with the financial statements present the quality. Qualitative characteristics of financial statements described in PP 24/ 2005 that the qualitative characteristics of financial statements is a normative measurement that needs to be realized in the accounting information that can be fulfil its purpose. To be able to raise the normative requirements, this characteristics is absolutely necessary in order to meet the government 's financial statements desired qualities are: relevant, reliable, comparable, and understandable.The population of this research is PPK-SKPD in Karesidenan Pati. Consisting of: Regency Jepara, Kudus, Pati , Rembang, Blora, and Grobogan, totally 113 SKPD with 73 respondents with a random sampling technique . Data analysis technique used is multiple regression analysis. The results mentioned that human resource policies affect the quality of financial reporting by 4.167. Implementation of the system accounting effect on the quality of financial reporting by 3.309 % . Human resources policies and implementation of accounting systems affect the quality of financial statements. This study did not succeed accept hypothesis 5 proved that the value of t = -1.021 and p = 0.311, which means that the BPK audit does not affect the relationship between the Application System Accounting for the Quality of Regional Financial Statements.
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.
Arik - Susbiyani
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.
The main goal of this bachelor thesis called "Company Financial Analysis" is to evaluate the financial situation of ZS Kosova Hora a.s. in the years 2005 2013 using standard methods of financial analysis. To achieve this goal horizontal and vertical analyses, ratio analysis, pyramidal decomposition of the ROE indicator and solvency and bankruptcy models have been used. In all these areas the selected company has been compared with a selected sample of other agricultural enterprises and its fi...
... 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.
...." 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.
... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Examination of financial statements by foreign government auditors. 210.2-03 Section 210.2-03 Commodity and Securities Exchanges... auditors. Notwithstanding any requirements as to examination by independent accountants, the financial...
In the present study it was used the analysis of food industry and the financial flows generated by them. The analysis was based on information from the financial statements of these entities, and the study of evolution: food industry output, number of enterprises and employees in food industry, import and export of food production. Following the undertaken analysis are highlighted some shortcomings and made some concrete proposals need to be considered in the sustainable development of the f...
Eyo Asro Sasmita
Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables
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%.
Chen, Suduan; Goo, Yeong-Jia James; Shen, Zone-De
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%.
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.
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”.
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?
Gümrah, Ümit; Adiloğlu, Burcu
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 ...
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 ...
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...
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.
The primary audit objective was to determine whether the Defense Finance and Accounting Service Indianapolis Center consistently and accurately compiled financial data received from field accounting...
Gabrić, Dragan Gabrić
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...
Alina Teodora Ciuhureanu; Nicolae Balteş; Hortensia Gorski
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.
This thesis is focused on financial analysis of company ABC that works in rubber industry. First part is aimed at theoretical interpretation of financial analysis, its goals, history, users and sources. Attention is paid to sources of information especially financial statements. Further basic methods are defined, which financial analysis uses. Ratios are described in this thesis above all. At the close there is practical display of financial analysis based on data from financial statements of...
Full Text Available Paper work “Financial analysis of the financial institutions sector in Kosovo” treats financial sector in Kosovo. Paper work contains the current position of the economy, economic prospects and macroeconomic projections for the financial sector in Kosovo, future potential and possibilities of financial sector in Kosovo. The main goal of this research is financial analysis of Kosovo financial institutions sector - overview of key indicators. This research evaluates the performances of commercial bank’s profitability, which have operated in the market during the period 2006-2012. This research is conducted through financial analysis coefficients: Return on Equity, Return on assets and Cost to Income. Test t-Student is used to analyze the profitability for the period 2006/2007 before the financial crisis and the period 2011/2012 after financial crisis.
... file financial statements at the time of request for a draw. 108.1220 Section 108.1220 Business Credit... Nmvc Company § 108.1220 Requirement for NMVC Company to file financial statements at the time of... financial statement on Form 468 (Short Form); and (2) File a statement of no material adverse change in your...
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 %).
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.
... arrangements, contracts entered into with others, or company statements of intention with regard to particular... outstanding in excess of an applicant's book balance in a demand deposit account shall be shown as a liability... investment purposes. Disclose the aggregate book value of investment securities as the line item on the...
Suryani, Arna; Herianti, Eva
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...
Report #2004-1-00067, May 26, 2004. The financial statements referred to in the first paragraph present fairly the financial position of the Washington Department of Ecology Water Pollution Control State Revolving Fund as of June 30, 2003.
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...
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...
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...
... that establish the budget and other related laws and regulations. As a means to help achieve this objective, beginning with fiscal year 1998, executive agencies subject to the Chief Financial Officers (CFO...
.... 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...
Full Text Available This study included the analysis of prepared comprehensive financial statements with the transitionto accrual-based accounting system from cash-based accounting system in the public institutionsin 2006. In Turkey, there is no specific method developed to the goals of public institutions. GASB 1Reporting Model, which is a model developed in the USA, and is not yet used in Turkey, has been appliedby taking financial statements data of the Istanbul Metropolitan Municipality. The study was carriedout using the institution’s balance sheets and statement of financial performance for 2006-2014.Using ratios developed in the model, the financial condition of institution was measured from fourdifferent aspects: cash solvency, budget solvency, long-term solvency, and service-level solvency, andthe results were analyzed. The purpose of the study is the implementation of financial analysis methodsto have a public sector accounting information system that will achieve a financial structure whichcan measure, evaluate and develop the financial condition of public institutions by decision-makingand that will contribute to the efficient and comprehensible use of the produced information by decision-makers in Turkey.
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.
Dessislava Kostova – Pickett
Full Text Available The practice of financial analysis has been immeasurably strengthened in recent years thanks to the ongoing evolution of computerized approaches in the form of spreadsheets and computer-based financial models of different types. These devices not only relieved the analyst's computing task, but also opened up a wide range of analyzes and research into alternative sensitivity, which so far has not been possible. The main potential for object-oriented financial analysis consists in enormously expanding the analyst's capabilities through an online knowledge and information interface that has not yet been achieved through existing methods and software packages.
Anita Atanassova; Nadezhda Popova-Yosifova
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 d...
7 AD-A107 188 GENERAL ACCOUNTING OFFICE WASHINGTON DC ACCOUNTING A ETC F/G 5/1 TERMINATING THE AUDIT OF THE NATIONAL FLOOD INSURANCE PROGRAN S-,-ETC...Management Agency Dear Mr. Giuffrida: A Subject: Terminating the Audit of the National Floodr .) Insurance Program’s Fiscal 1980 Financial...objective of the audit was to express an opinion on the NFIP’s < fiscal 1980 financial statements. We will not meet this objec- tive, however, because
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
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.
... 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... Accounting Standards Advisory Board (FASAB) has issued Statement of Federal Financial Accounting Standards 41...
LĂPĂDUŞI MIHAELA LOREDANA
Full Text Available The main goal of any business is to maintain the financial stability not only on the short term but also on medium and long term, in other words to maintain a harmony between financial sources and financial needs, respectively the equality between the assets and liabilities from the balance sheet. On short term, maintaining the financial stability involves correlating the temporary resources with the temporary uses by using the necessary working capital, and on the long-term, the financial stability involves comparing the permanent resources with the permanent uses by working capital indicator. The determination of the financial state of the company at a certain moment represents the key moment in establishing and adopting the economic and financial decisions in the management of the company. Maintaining the financial stability of the company represents one of the main objectives of the financial analysis and management and it also provides the optimum development of the entire economic and financial activity of the company. The analysis of the working capital size is based on the financial statement data and information, and based on this analysis is considered the financial situation of the company, the financial equilibrium state at a certain moment. The purpose of this article is to highlight the fact that the maintenance of the financial stability on medium and long term is subordinated to the “working capital” indicator, its content and interpretation evolving in time and varying differently from one company to another. The results of this research may have broad applicability in the field of the companies’ activity and it materializes in the complex approach of the working capital regarded as a classic indicator, frequently used in the financial analysis and with profound significance in establishing the financial state in general and the equilibrium state in particular.
In her 2011 article "Towards a 'scholarship of teaching and learning': The individual and the communal journey," Ursula Lucas calls for more critical reflection on individual teaching experiences and encourages sharing such experiences with the wider academy. In this spirit Gary Entwistle reflects upon his experiences teaching financial…
Jun 21, 2017 ... modality and nature of the programming; to offset the variability of the timing of .... and the reasonableness of accounting estimates made by ..... careers, particularly women, through fellowships, scholarships, or internships.
Ionela Cristina Breahna Pravat
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.
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
The paper contains the directors' annual report and the audited financial statements of the National Nuclear Corporation Limited, 1985/6. The company is engaged in designing and constructing power stations and nuclear power reactors, and other related work, and in associated research and development. (U.K.)
Thinggaard, Frank; Wagenhofer, Alfred; Evans, Lisa
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...
... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Employee Stock Purchase... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Statements of financial...
Full Text Available -1 Asian Conference on Intelligent Information and Database Systems, 3-5 April 2017, Kanazawa, Japan Increasing the detection of minority class instances in financial statement fraud Stephen Obakeng Moepya1,2(B), Fulufhelo V. Nelwamondo1...
The paper contains the directors' annual report and the audited financial statements of the National Nuclear Corporation Limited, 1985/6. The company is engaged in designing and constructing power stations and nuclear power reactors, and other related work, and in associated research and development. (U.K.).
Byrd, David B.; Byrd, Sandra D.
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)
This financial related audit was performed in response to the Chief Financial Officers Act of 1990, as amended, which requires DoD and other Government agencies to produce complete, reliable, timely...
GABRIELA CORINA SLUSARIUC
Full Text Available Patrimonial analysis of financial stability is realized with the help of some indicator determined on the balance: working capital; required working capital and net treasury. These indicators are determined and presented in evolution at two companies with different situations, and there are given conclusions and suggestions concerning achieving and maintaining the financial equilibrium or initiating corrective measures in time, before the imbalance would take irrecoverable forms.
Lim, Ji Young; Noh, Wonjung
In this study, we identified key components of financial-analysis education for clinical nurses. We used a literature review, focus group discussions, and a content validity index survey to develop key components of financial-analysis education. First, a wide range of references were reviewed, and 55 financial-analysis education components were gathered. Second, two focus group discussions were performed; the participants were 11 nurses who had worked for more than 3 years in a hospital, and nine components were agreed upon. Third, 12 professionals, including professors, nurse executive, nurse managers, and an accountant, participated in the content validity index. Finally, six key components of financial-analysis education were selected. These key components were as follows: understanding the need for financial analysis, introduction to financial analysis, reading and implementing balance sheets, reading and implementing income statements, understanding the concepts of financial ratios, and interpretation and practice of financial ratio analysis. The results of this study will be used to develop an education program to increase financial-management competency among clinical nurses. © 2015 Wiley Publishing Asia Pty Ltd.
Ozmeral, Alisha Bhadelia; Reiter, Kristin L.; Holmes, George M.; Pink, George H.
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…
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.
.... 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...
... Financial Statements for Fiscal Year 1998: Summary Audit Rep oft." Our objective was to determine the accuracy and completeness of the Army Audit Agency audit of the FY 1998 Army General Fund Fund Financial Statements...
..., "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...
Pramuka, Bambang Agus
The intent of consolidated financial statements is to provide meaningful, relevant, useful, and reliable information about the operations of a group of companies. In compliance with AASB 1024 'Consolidated Accounts', and AAS 24 Consolidated Financial Reports', a parent entity now has to include in its consolidated financial statements all controlled entities, regardless of their legal form or the ownership interest held. The new Standard also pr...
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.
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.
Full Text Available The aim of our research is to verify if Italian listed companies financial statements provide adequate information about the capitalization of costs related to intangible assets and if the information provided are reliable. Moreover, we investigated if they merely comply with law or provide additional information on cost capitalization and reveal if internal control systems (especially managerial accounting systems or other information systems are applied to support the measurement process and the cost control, thus guaranteeing the verifiability and representational faithfulness of the information disclosed. This paper is an empirical analysis and is concerned to investigate the financial statements of 250 Italian listed companies.
Mirela Elena Nichita
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
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.
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.
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.
Full Text Available Companies in Lithuania have to follow Business Accounting Standards (BAS when preparing their financial statements. Recording financial transactions according to BAS ensures that the information a company shares with potential lenders and investors gives a true and fair view of its business situation. However, the tax law prescribes its own set of accounting rules, which can result in a difference between what a business shows in financial statements and what it reports on its tax returns. This paper examines whether Lithuanian companies predominantly use tax accounting principles that migrate into their financial statements to create an inaccurate picture of business performance. The method of experts’ evaluation was chosen for that purpose. The results indicate that Lithuanian companies tend to heavily rely on accounting principles prescribed in corporate income tax law thus distorting information contained in financial statements. The paper contributes to the scarce literature on this issue of high relevance to both academics and practitioners.
Andini Sih Afsari Utami
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.
CARUNTU GENU ALEXANDRU
Full Text Available In the last decade, accounting for financial instruments has experienced a revolution, following the publication of accounting rules on recognition and measurement of these instruments saddle. Need to develop standards for financial instruments appeared on the background of explosion using derivatives and the markets in which they are traded, and as a result of numerous financial scandals that rocked developed countries in the last decade. These were based, among other causes, improper use of derivatives and hiding their disastrous effects of poor management by keeping them off balance and failure to provide related information in the notes of the financial statements.
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...
Full Text Available Lack of capital market development cause that calculating the value of companies in the small markets, such as the Croatian market, is carried out primarily from the analysis of financial statements. Lack of market development is evident from the unrealistic and unobjective corporate values, as result of too small volumeof securities trading in financial markets. The primary financial analysis is the basic method for estimating company value, and represents the foundation for an objective determination of cash flow components that will be discounted. Trought analysis investors are trying to answer the questions such as: status of the assets,liabilities and capital, the dynamics of business enterprises, the level of solvency and liquidity, utilization of fixed assets, contribution of fixed assets in total income, company profitability rates and investment in the company. Investors use financial analysis only as a basis and as a tool to predict the potential for creating new business value.
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.
... information regarding this Statement contact the Office of Domestic Finance, Treasury, at (202) 622-1766. All... relationship to other entities. Identification of the legal entity is a fundamental ingredient in creating a... reassigned; (3) Persist over the life of an entity regardless of corporate actions or other business or...
Full Text Available This paper seeks to explore the role of financial statements audit in promoting tax revenues growth in Rwanda in the broader perspective. Survey questionnaires as primary data collection instruments were distributed to all audit officers of Rwanda Revenue Authority equalling to 100 staff and followed both analytical research design. Secondary data included reports from Rwanda revenue authority from 2006 to 2010 This paper also examines preliminary empirical results on the relationship between financial statements audit and tax growth this paper supports the notion that the practices of audit of final books of accounts for both small and medium enterprises at institutional level are prerequisite for growth of tax revenues in the country. In conclusion, the results not only have the potential to contribute theoretically to public finance but also to the area of institutional performance
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.)
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...
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
Matsuo, Yuhji; Nagatomi, Yu; Murakami, Tomoko
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)
Full Text Available Financial crisis has influenced all the economiesaround the world. A similar situation happened during the ITcrash. Some, even, believe the crash of the dot-com bubblecontributed to the actual situation. The rush for financialsuccess led to a whole generation of young adults immersingthemselves in technology. Nevertheless IT has an importantinfluence on nowadays economy this is the reason of thepresent study. Here will be presented one of the world largestcompanies in IT and analyzed using few financial methods(comparative statements, ratio analysis, cash flow analysis.
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
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...
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...
.... The audit objective was to determine the accuracy and completeness of the Naval Audit Service audit of the Navy General Fund Financial Statements for Fiscal Year 1998. See Appendix A for a discussion of the audit Process.
The objective of the audit was to determine whether the DoD Military Retirement Trust Fund Financial Statements for FY 1995 were fairly presented in accordance with Office of Management and Budget Bulletin...
The objective of the audit was to determine whether the DoD Military Retirement Trust Fund Financial Statements for FY 1996 were fairly presented in accordance with Office of Management and Budget Bulletin...
... with other comprehensive basis of accounting described in Office of Management and Budget Bulletin No. 94-01, "Form and Content of Agency Financial Statements," November 16, 1993, or subsequent issuances...
... 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...
Report #2006-1-00080, September 28, 2006. CSB's financial statements, as of and for the years ended September 30, 2005 and 2004, are presented fairly, in all material respects, in conformity with accounting principles generally accepted in the USA.
.... 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...
Our objective was to determine the accuracy and completeness of the Deloitte & Touche LLP audit of the Military Retirement Trust Fund Financial Statements for FY 1998 See Appendix A for a discussion of the audit process.
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...
.... This report provides our endorsement of the Naval Audit Service disclaimer of opinion on the Navy General Fund Financial Statements for FY 1998, along with the Naval Audit Service report, "Department...
Public Law 101-576, the "Chief Financial Officers Act of 1990," as amended by Public Law 103-356, the "Federal Financial Management Act of 1994," requires financial statement audits by the Inspector...
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...
Public Law 101-576, the "Chief Financial Officers Act of 1990," as amended by Public Law 103-356, the "Federal Financial Management Act of 1994," requires financial statement audits by the Inspector...
ÖZKUL, Fatma; ALKAN, Betül Şeyma
This study included the analysis of prepared comprehensive financial statements with the transition to accrual-based accounting system from cash-based accounting system in the public institutions in 2006. In Turkey, there is no specific method developed to the goals of public institutions. GASB 1 Reporting Model, which is a model developed in the USA, and is not yet used in Turkey, has been applied by taking financial statements data of the Istanbul Metropolitan Municipality. ...
detection and two and three dimensional imaging which could be very useful to the warfighter. Furthermore, by keeping the data, forensic analysis can be...program completed Initial Operational Test and Evaluation ( IOT &E). The Air Force provided the RQ-4B Global Hawk Block 30 to the Warfighter prior to the...completion of an IOT &E report because the Warfighter requested and needed that capability. Most findings identified during IOT &E were quickly
Diana Lucia de Almeida
Full Text Available The Brazilian preference shares, in general, except when they present specific features, such as mandatory redemption and cumulative dividends, meet the accounting definition of equity instruments. However, the scientific literature believes that those shares that do not have discretion to avoid the delivery of cash must be classified as financial liabilities. In a context in which remain differences of understanding of their proper accounting treatment, the following question arises: preferred shares of Brazilian companies are being recognized in the financial statements in accordance with the theoretical and normative precepts? Thus, the aim of this study is to verify if the preference shares of Brazilian companies have been recognized in the financial statements for according to the scientific literature and accounting standards. Through content analysis, we analyzed the information of 157 companies listed on BM&FBOVESPA. The results show that 155 companies classify its preference shares as equity instruments and two as financial liabilities. These two companies, as well as 149 of those which qualify as equity instruments, are treating them properly in its accounting. The other six companies should present its preference shares as liabilities, given the absence of discretion to avoid cash delivery, feature present in financial liabilities, unlike equity instruments. It is noticed that, unlike what happens, for instance, in the US market, it is not possible to classify all Brazilian preference shares as a financial liability, since, in Brazil , they are used in different legal format of those widely found in that market. Moreover, almost all of the analyzed shares have essential features for classification as equity instruments. Hence, the importance of analysis of the economic essence of each instrument, thus, enabling the appropriate accounting treatment in the financial statements.
Bokulic, Caitlin; Henry, Erin; Plesko, George A.
This paper presents a new reconciliation of financial to taxable income, drawing from public financial statement and Schedule M-3 data for a panel of firms. The reconciliation compares the financial statement income of a firm’s consolidated financial statement entities to the financial statement income of a firm’s tax return entities on a worldwide, domestic, and foreign income basis. This analysis highlights the relation between these various measures of corporate income to better understand...
Project #OA&E-FY18-0249, June 6, 2018. The OIG plans to begin preliminary research on the EPA’s compliance with the Statement of Federal Financial Accounting Standards No. 47: Reporting Entity; and Treasury Financial Manual, Part 2, Chapter 4700
Analysts, managers or other business executives and students have at their disposal wide variety analytical techniques when they want to evaluate company's financial position or when they wish to better understand the financial implication of business operational activities or investment. This thesis examines the uses of financial analysis as one of the main financial assessment techniques. After describing theoretically the main tools of financial analysis, this thesis determines the practic...
Souza, Alyson Gomes de; Sousa, Wellington Dantas de; Nascimento, João Carlos Hipólito Bernardes do; Bernardes, Juliana Reis
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 result...
... statements prepared by a licensed independent public accountant within 90 days after the close of the concern... independent public accountant, verified as to accuracy by an authorized officer, partner, limited liability... must submit to SBA audited annual financial statements prepared by a licensed independent public...
The preliminary sample for the analysis is framed on the basis of three criteria: amount of the subscribed capital, sales revenues and product structure. Those companies are regarded as competitors that have subscribed capitals in excess of HUF 250 million, consistently high levels of sales revenues and diversified product structures. The preliminary sample consists of 7 companies. In 2012, their total sales revenues were as high as about 50% of the overall amount of sales revenues in the sector. Three of the 7 companies are possessed by foreign owners in full or part, whereas 4 of them belong to Hungarian owners. In 2012, Hungarian-owned companies covered more than one-third of the combined sales revenues of the 7 leading companies. Hence, the competitive positions of these 4 companies based on their financial positions are examined. These calculations have relied on the annual reports for the period of 2008–2012 (balance sheets, income statements, cash flow statements. The research has implemented a comprehensive and comparative financial analysis. The main question is what the key financial characteristics of the Hungarian-owned companies are. Financial indicators are calculated and their time-series analysis is accomplished to describe the sample companies’ capital structures, liquidity and profitability. Using comparative analysis of the applied financial ratios the study determines (1 which company has the most advantageous financial conditions for the successful operation; (2 which companies have disadvantageous financial situation; and (3 which companies are in potential financial distress situation. Potential bankruptcy positions are examined by the applications of Altman and Springate models.
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.
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.
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.
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.
this period were conducted on the statistical validity of the ratio method in financial analysis. McDonald and Morris conducted a study on the... franchising operations, allowing them to lower costs and share administrative support services with other agencies. [Ref. 60:sec. 402-403] The GMRA also...Press, Washington, D.C., 1955). 21. McDonald , Bill and Morris, Michael H., "The Statistical Validity of the Ratio Method in Financial Analysis: An
... 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... Financial Accounting Standard 45, Deferral of the Transition to Basic Information for Long-Term Projections...
Alla V. Dmitrenko
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.
Full Text Available As Radu said (2009, pag. 91  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.
The consolidated balance sheet of Churchill Falls (Labrador) Corp. Ltd., and Twin Falls Power Corp. Ltd. for the year 1997 were presented by the Corporation`s auditors, certifying that the statements of income and retained earnings and changes in financial position at year-end were accurate and free of material errors. A summary of significant accounting policies was also provided. In the auditors` view the financial statements from 1997 reflect the financial position of the companies accurately. Corresponding data from 1996 were included to allow for comparisons. tabs.
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…
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
Developments in the year ending 31st March 1989 within NNC Ltd. are reviewed in outline. These include work on the Advanced Gas Cooled Reactor Power Stations under construction at Heysham 2 and Torness; operational support and maintenance work on most of the UK's nuclear power stations; Pressurized Water Reactor work on systems and safety, engineering support and research and development; management support of the Ministry of Defence at the AWE site at Aldermaston and a range of services relating to nuclear submarines. Financial statements for the year conclude, and form the bulk of the report. (UK)
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.
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
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.
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.
Mackevičius, Jonas; Valkauskas, Romualdas
Information about company's financial status and its performance results is very important for the objective evaluation of company's position in the market and competitive possibilities in the future. Such information is provided in the financial statement. It is important to apply and investigate this information properly. The methodology of company's financial status and performance results integrated analysis is recommended in this article. This methodology consists of these three elements...
Today, it is possible to present financial statements in many ways. This makes it difficult to compare the financial statement of organisations within the same geographical area to suit the report of investors. For example, some organisations choose to provide a significant line of item detail, while others do not. By creating a single standard, we could provide investment decision makers with an improved starting point. This study therefore investigates the role of financial statements on in...
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...
Víctor Alberto Betancourt-Gonzaga
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.
Kosola, M.; Niskala, M.
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.)
.... Our audit of the "Other Defense Organizations" principal financial statements was delayed until January 9, 1997, because of difficulties that the Defense Finance and Accounting Services Indianapolis...
Uluslararası Finansal Raporlama Standartlarının Finansal Analize Etkisi: İMKB’ye Yönelik Bir Araştırma = The Impact of International Financial Reporting Standards on Financial Analysis: A Study on IMKB (Istanbul Stock Exhange
Ali İhsan AKGÜN
Full Text Available The information in financial statements should be correct, comprehensible and comparable enough, in terms of financial analysis, to fulfill the needs of financial information users. When different purposes of financial statement users are taken into consideration, Turkish Accounting Standards (TAS and Turkish Financial Reporting Standards (TFRS applications have important impacts on financial statements of enterprises and the analysis of these statements. In the actual study, the impact of International Financial Reporting Standards (IFRS on the financial statement analysis of enterprises registered in Istanbul Stock Exchange (IMKB was examined. The study, the effect of IFRS on the enterprises registered in IMKB was examined thorough a questionnaire. Factor analysis was made on the SPSS 19 statistics program.
Antônio Artur de Souza
Full Text Available This paper presents the results of a research that aimed at developing a financial analysis of a sample of Brazilian hospitals between 2006 and 2011. The data were collected from financial statements of 23 hospitals and from the Database of United Health System. These secondary data were analyzed through the following techniques: descriptive statistics, Spearman’s correlation, Kolmogorov-Smirnov’s test, Kruskal-Wallis’ test and Chi-square’s test. It was verified that the sample presents unsatisfactory general results about financial performance, especially when related to financial ratios of profitability and return. However, the analysis of different categories of hospitals displays relevant and significant divergences, especially about the type of hospitals: publics and voluntaries ones. The voluntary hospitals present higher liquidity ratios and the best profitability and their capital structure usually focus on long term financing obtained from external agents. These evidences suggest that those organizations focus on financial leverage to achieve better results without deteriorate their liquidity. On the other hand, the public hospitals present lower liquidity as well as worse profitability and return ratios. It was verified that the large-sized hospitals usually present lower financial ratios (liquidity, profitability and return than the medium-sized hospitals.
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
An audit of the Army General 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, the "Federal...
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...
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.
Recommendations from the External Auditors to the CERN Pension Fund Management on the Financial Statements of the CERN Pension Fund for the Financial Year 2013 and comments from the CERN Pension Fund Management
Recommendations from the External Auditors to the CERN Pension Fund Management on the Financial Statements of the CERN Pension Fund for the Financial Year 2013 and comments from the CERN Pension Fund Management
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
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
Blanca Iris Vega Castro
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.
Blanca Iris Vega Castro; Pedro González Cerrud
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.
Mariana Rodica TIRLEA
Full Text Available The economic processes taking place in the economic environment are stochastic processes that involve and imply risks, arising from product diversification, competition, financial derivatives transactions: swaps, futures, options and from the large number of actors involved in the stock market with a higher or a smaller uncertainty degree. Competition and competitiveness, led to major and rapid change in the business environment, they determined actors participating in the economy to find solutions and methods of collecting and processing data, in such a way that, after being transformed into information they quickly help based on their analysis in decision making, planning and financial forecasting, having an effect on increasing their economic efficiency. In these circumstances the financial analysis, decision, forecasting and control, should be based on quality information that should be a value creation source. The active nature of the financial function implies the existence of a substantially large share of financial analysis, financial decision, forecasting and control.
reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely...Financial Management Army did not (1) properly identify all key control objectives and activities and risks of misstatement related to its processes or...including beginning balances— material to the SBR and to consider the risks associated with them in developing its audit readiness strategy. In addition
Aida Nahar; Subadriyah Subadriyah; Ali Sofwan
Accountability of local governments in the implementation of policies should be carried out with the financial statements present the quality. Qualitative characteristics of financial statements described in PP 24/ 2005 that the qualitative characteristics of financial statements is a normative measurement that needs to be realized in the accounting information that can be fulfil its purpose. To be able to raise the normative requirements, this characteristics is absolutely necessary in order...
Chabotar, Kent John
To evaluate their financial health, a growing number of colleges, universities, and other nonprofit organizations are using financial ratio analysis, a technique used in business. The strengths and weaknesses of ratio analysis are assessed and suggestions are made on how nonprofits can use it most effectively. (Author/MLW)
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.
R. Brouwer (Remco)
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
D. de Rooij (Doris)
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
.... 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...
Wilson, Christine; Bernard, Freddie; Boehlje, Michael
This paper discusses a farm financial analysis program, along with four features of the program that have facilitated its use by farm managers. The four features that appear to increase farm manager interest in the program are Performancebased, Accrual-adjusted income statement, System of financial analysis, and Simple to use. We illustrate this program with application to a farm firm case study.
Dragu Ioana - Maria
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
.... 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...
Report #2003-1-00048, Jan 21, 2003. The Program’s financial statements are presented as an enterprise fund using the accrual method of accounting whereby revenues are recorded when earned and expenses are recorded when the related liability is incurred.
Brickner, Daniel R.; McCombs, Gary B.
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…
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).
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
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 operating income
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.
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
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
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.