The study examines the impact of the adoption of International Financial Reporting Standards (IFRS) on the quality of financial reporting in Nigeria. The study utilises a period based approach to analyse changes in the degree of financial reporting quality (FRQ) that hinges on three proxies: Value Relevance, Earnings ...
Pontoppidan, Caroline Aggestam
The advance of International Financial Reporting Standards (IFRS) across the globe has accelerated over the last few years. This is placing increasing demands on educators to respond to these changes by an increased focus on IFRS in the curricula of accounting students. This paper reviews a range...
ABSTRACT. The study examines the impact of the adoption of International Financial Reporting Standards. (IFRS) on the quality of financial reporting in Nigeria. The study utilises a period based ap- proach to analyse changes in the degree of financial reporting quality (FRQ) that hinges on three proxies: Value Relevance, ...
Full Text Available The article analyses and assesses proposals for changes concerning the objective of financial reportingbased on International Financial Reporting Standards (IFRS, presented in comments on the exposuredraft of the Conceptual Framework for Financial Reporting (2015. The majority of respondents thinkthat the objective of financial reporting should give more prominence to the importance of providinginformation about management’s stewardship. Moreover, some respondents suggest introducing thedefinition of stewardship into the Conceptual Framework and presenting implications of shifts in theobjective of financial reporting for the future standard setting and for preparing financial statements.Based on the analysis of comment letters and the review of accounting literature, the conclusion is thatthe objective of financial reporting should be changed. It is, however, disputable, if stewardship should bea separate object. There is too little research on the relation between the stewardship and decisionusefulnessobjectives. The findings of this research could show accounting standard-setters the potentialtrade-offs and conflicts between these objectives.
Jarvis, Robin; Collis, Jill
This paper examines the international development of financial reporting standards for smaller entities from a UK perspective. It examines the three elements of differential reporting: abbreviated accounts, the Financial Reporting Standard for Smaller Entities and exemption from the statutory audit.
This study examines the International Financial Accounting Reporting Standards adoption practices around the world and the way these practices are reflected in the financial statements of companies in different countries. It also examines the incentives/ motivations for the variations in the type of International Financial ...
Nigeria is going to adopt International Financial Reporting Standard (IFRS) from 1st January 2012. Globalization and Information and Communication Technology (ICT) has reduced the world to a global village. This has given rise to the continuous integration of the world economy and capital markets which has in turn ...
In this article are given main notion about international standard of financial reporting, order of the auditing on the base of IFRS, scheduling the report of the auditor, auditor conclusions and are given analysis of reporting based on the auditor procedures. At the audit of financial reporting are taken into account international standard to financial reporting 29 "Financial reporting in hyperinflationary economies".
V. V. IEVDOKYMOV
Full Text Available The necessity of the research on the basis of the positivist model of scientific knowledge is proved. The value of the conceptual framework in the process of bookkeeping selection is analyzed. The differences of the accounting selection adjustment procedure in US GAAP and IFRS are considered. The role and importance of the qualitative characteristics of financial reporting in the implementation of accounting selection are substantiated. The structure of the qualitative characteristics of financial reporting and their limitations under the Conceptual Framework for the preparation and presentation of financial statements are examined. The correlation between the accounting rules and alternatives adopted in US GAAP and IAS / IFRS is analyzed. The necessity to discuss the issue of the feasibility of «rule-oriented» or «principle-oriented» accounting model in the context of multivariate concept is studied. The authors prove the necessity of the application of institutional theory to solve the problems of accounting opportunism that arises when using the concept of multivariate accounting in International Financial Reporting Standards.
Quarterly Financial Report for the period ending 31 December 2011 · Quarterly Financial Report for the period ending 30 September 2011 · Quarterly Financial Report for the period ending 30 June 2011 · Summary of Expense Reductions to Accommodate Budget 2012 Appropriation Reduction (PDF) · What we do · Funding ...
Full Text Available • IFRS for SMEs give the response to an international requirement of the developed and emerging economies in the process of globalization to have a rigorous and common set of international accounting provisions (standard, rule, regulation specifically for SMEs, to be much more simplified than the complete IFRSs. The area where are applicable the IFRS for SMEs includes all the profit-oriented entities that prepare the general financial statements and do not have the public accountability and there are excluded the entities whose securities are publicly traded and the financial institutions like banks and the insurance companies.
United States General Accounting Office GAO Report 1,o, the Commander, Air Force -A0 Systems Command Janar 191FINANCI-AL AUDTFI Financial Reporting ...20332 Dear General Yates: This report presents the results of our review of the Air Force Systems Command’s financial management operations. It addresses...internal control and financial reporting improvements needed within the Air Force Systems Command. The report resulted from our examination of the
Full Text Available A continuous flow of reliable, relevant and financially important information is necessary for making economically justified and strategic investment decisions. Economic globalization has contributed to the need of creating a unified language for communication, a single set of international financial reporting standards with the sole purpose of enhancing transparency for investors and reducing the cost of capital. Harmonization of financial reporting provides more efficient use of global resources, easier consolidation of multinational companies foreign subsidiaries, alleviation of accounting staff mobility and reducing of audit costs. The research is based on the benefits that the national economy can gain if the international financial reporting standards are successfully implemented. Special attention in the paper is devoted to the factors that determine the harmonization of financial reporting. The analysis of the results show the managers' perception of financial reporting, and emphasize the effects of the implementation of IFRS in Republic of Macedonia.
Kozuharov, Sasho; Ristovska, Natasha; Blazeska, Daliborka
A continuous flow of reliable, relevant and financially important information is necessary for making economically justified and strategic investment decisions. Economic globalization has contributed to the need of creating a unified language for communication, a single set of international financial reporting standards with the sole purpose of enhancing transparency for investors and reducing the cost of capital. Harmonization of financial reporting provides more efficient use of...
Full Text Available On January 13th 2016, the Board for International Accounting Standards published the new International Standard 16 of Financial Reporting, named as “Lease”, which will substitute the International Accounting Standard 17 of financial reporting “Lease”. ISFR 16 ensures reflection of practically all lease agreements in the financial reporting, which, in is part, meets the requirements of investors regarding reliability and transparency of the information related to a financial state of an enterprise. The Article considers the changes caused by ISFR 16, which relate to recognition of the lease agreements as the asset, their accounting and, impact on the financial reporting. Relevant conclusions are provided regarding the above mentioned issues.
The International Financial Reporting Standards (IFRS) are designed for application in the financial reports with general purpose and the other financial reporting in all profit-oriented entities. The International Auditing Standards (IAS) are setting out the framework for carrying out the review process of financial reporting from entities referred to audit in order to verify the authenticity of the information and raising up the credibility of financial statements. Quality implementation...
Enterprise reporting represents an important source of information about its assets, performance and operations and is therefore crucial for international trade. In the times of intensified competition and knowledge-based economy the information needs of stakeholders have increased significantly. A traditional financial statement is no longer sufficient to meet all of them. Therefore changes are introduced in reporting, which separates financial and non-financial dimensions. Enterprise report...
... control over financial reporting. 630.5 Section 630.5 Banks and Banking FARM CREDIT ADMINISTRATION FARM... assessment of internal control over financial reporting. (1) Annual reports must include a report by the... disclose any material change(s) in the internal control over financial reporting occurring during the...
Previous literature suggests that the adoption of International Financial Reporting Standards (IFRS) can facilitate cross-border capital flows, as it results in an increase in market liquidity and comparability benefits. Using foreign ownership levels in South African listed companies during the period 2003 to 2007, we test ...
Singer, Robert A.
It is expected the SEC will require U.S. domestic companies to prepare and file their annual 10Ks in accordance with international financial reporting standards (IFRS) by 2016. Given the probability that the FASB-IASB convergence project (i.e., Norwalk Agreement) will continue subsequent to mandatory adoption, US accounting programs will be…
... control over financial reporting. 620.3 Section 620.3 Banks and Banking FARM CREDIT ADMINISTRATION FARM... control over financial reporting. (a) Prohibition against incomplete, inaccurate, or misleading... assessment of internal control over financial reporting. Annual reports of those institutions with over $1...
... financial reporting. 1773.32 Section 1773.32 Agriculture Regulations of the Department of Agriculture... RUS Reporting Requirements § 1773.32 Report on compliance and on internal control over financial... control over financial reporting including whether or not the tests performed provided sufficient evidence...
Alex Augusto Timm Rathke; Verônica de Fátima Santana; Isabel Maria Estima Costa Lourenço; Flávia Zóboli Dalmácio
Abstract This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS) and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyze...
... over financial reporting. 229.308 Section 229.308 Commodity and Securities Exchanges SECURITIES AND... § 229.308 (Item 308) Internal control over financial reporting. (a) Management's annual report on internal control over financial reporting. Provide a report of management on the registrant's internal...
... over financial reporting. 229.308T Section 229.308T Commodity and Securities Exchanges SECURITIES AND... § 229.308T (Item 308T) Internal control over financial reporting. Note to Item 308T: This is a special... internal control over financial reporting. Provide a report of management on the registrant's internal...
... attestation reports on internal control over financial reporting. 210.2-02T Section 210.2-02T Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL... attestation reports on internal control over financial reporting. (a) The requirements of § 210.2-02(f) shall...
I Putu Fery Karyada
Full Text Available Abstract: Accounting Information Quality in Convergence International Financial Reporting Standard (IFRS. This study aims to examine the differences of accounting information quality in the IFRS convergence. The method used in this research is multiple regression analysis in non banking and finance companies in 2012-2014. The research shows that overall application of IFRS tended to reduce the quality of accounting information. This research finds that overall application of IFRS tends to reduce the quality of accounting information. This occurs because the differences of IFRS with existing standards, weak law enforcement, and a lack of manager incentives. This result can be an input for various parties in making policy.
International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) have increasingly achieved global acceptance in recent years. In the face of globalisation process, it is critical for Vietnam to direct its current accounting system in order to improve its competitiveness regarding financial services and capital markets on the globally coordinated market. This thesis aims at comparing IAS/IFRS and Vietnamese Accounting Standards (VAS) in terms of accounting standa...
...] Internal Control Over Financial Reporting in Exchange Act Periodic Reports of Non-Accelerated Filers AGENCY... attestation report of its registered public accounting firm on internal control over financial reporting in... company's internal control over financial reporting. See Release No. 33-8238 (June 5, 2003) [68 FR 36636...
Clemense Ehoff Jr.; Dov Fischer
In 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) formally began a process to converge Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). The SEC has repeatedly delayed its decision on whether to adopt International Financial Reporting Standards as the financial reporting system for U.S. public companies, continue with the convergence project, or reject IFRS altogether. This pap...
Full Text Available The article deals with experience of application of international financial reporting standards in different countries with economies in transition. The main advantages and disadvantages of the implementation of international financial reporting standards for financial reporting for Ukrainian companies are based on this experience.
This work is meant to analyze the implementation of International Financial Reporting Standards in Romania. The work tries to focus on the benefits and challenges of International Financial Reporting Standards, mainly on factors pertaining to its adoption connections, statistics and other types of analyses were used in order to show the importance that International Financial Reporting Standards adoption could represent for a large number of stakeholders. The most important features of Intern...
Alex Augusto Timm Rathke
Full Text Available This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyzes the level of IFRS earnings management regarding the first and main Latin American countries applying IFRS (Brazil and Chile, when compared to the main Anglo-Saxon countries with IFRS tradition (United Kingdom and Australia, and with the main Continental European economies (France and Germany. The results show that Latin American firms present a higher level of earnings management than Continental European and Anglo-Saxon firms, and this opportunistic behavior remains significant when only global players with cross-listing in the United States are analyzed. Thus, even with a unique set of high quality accounting standards (IFRS and strong reporting incentives, countries’ specific characteristics still play an important role in the way IFRS is implemented in each country.
in Circular 7/2004 (SAICA 2004) and was to eliminate alternatives, redundancies and conflicts within existing standards in order to improve the quality of the reported financial data. The JSE is approximately 100 times larger than the Nigerian equity market, the second biggest in Africa (World Economic Forum 2008), which ...
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.…
This is a review of Henk Langendijk, Dirk Swagerman and Willem Verhoog (Eds) "Is Fair Value Fair? Financial Reporting from an International Perspective," Chichester: John Wiley, 2003, ISBN 0 470 85028 0.......This is a review of Henk Langendijk, Dirk Swagerman and Willem Verhoog (Eds) "Is Fair Value Fair? Financial Reporting from an International Perspective," Chichester: John Wiley, 2003, ISBN 0 470 85028 0....
Full Text Available Between corporate governance and IFRS there is a causal relationship. Financial reporting is basedon managerial accountability. Corporate governance is the economic branch who studies how companies canbecome more efficient through the use of institutional structures such as: incorporation, organization andlegal framework. This branch is limited, in most cases, to studies on how shareholders can motivateexecutives to benefit the company through their efforts, resulting - finally - dividends. Starting from theglobal nature of the current crisis, we have considered as being necessary to point out its effects on thefinancial reporting and, implicitly, on the requirements for the corporate governance consolidation in order toensure the economic and financial stability desired. The macro-economic context favored the start of thecrisis, but the analysis made by experts showed other reasons for this, out of which some of the mostimportant are the corporate governance weaknesses and the insufficient means for protection against risks.We consider that these are reasons which ask for an objective analysis and a correct assessment of theregulatory process but also of the practice in the area corroborated with an invitation for a responsiblebehavior both of the entities management but also of the representatives of the accounting profession so muchinvolved in the correctness of the accounting reporting and therefore in the financial health of the entities.
Kandungan Prinsip Konservatisme DalamStandar Akuntansi Keuangan Berbasis IFRS(International Financial Reporting Standard)Ahmad JuandaStaf Pengajar Jurusan Akutansi, Fakultas Ekonomi dan BisnisUniversitas Muhammadiyah This study aims to reveal the content of the principle of conservatism contained in financial accounting standards (GAAP) results of the convergence of International Financial Reporting Standards (IFRS). The use of the principle of conservatism still...
Yusrina, Hasyyati; Mukhtaruddin, Mukhtaruddin; Fuadah, Luk Luk; Sulong, Zunaidah
The International Financial Reporting Standards (IFRS) initiated by International Accounting Standard Board (IASB) are principle-based standard that require extensive disclosure of financial statements and accounting information as compared to prior standard that is the Generally Accepted Accounting Principles (GAAP) to better reflect the overall quality of company’s performance. Therefore, the IFRS convergence is expected to improve the reliability of financial reporting by limiting opportun...
Coetzee, Stephen A.; Janse van Rensburg, Cecile; Schmulian, Astrid
This study explores differences in students' reading comprehension of International Financial Reporting Standards in a South African financial reporting class with a heterogeneous student cohort. Statistically significant differences were identified for prior academic performance, language of instruction, first language and enrolment in the…
H.A. Skaife (Hollis); D. Veenman (David); D. Wangerin (Daniel)
markdownabstract__Abstract__ This paper examines the association between ineffective internal control over financial reporting and the profitability of insider trading. We predict and find that the profitability of insider trading is significantly greater in firms disclosing material weaknesses
Full Text Available The International Financial Reporting Standard for Small and Medium-sized entities (IFRS for SMEs was published as a standard by the International Accounting Standards Board (IASB during July 2009. During 2007 South Africa became one of the first countries and the first country in Africa to early accept the proposed accounting standard (exposure draft of an IFRS for SMEs. The accounting standard will probably also be accepted by numerous other countries. The aim of this article is to investigate the applicability of this accounting standard. The results indicated that the IFRS for SMEs remains too comprehensive for the majority of small companies. The IFRS for SMEs does not satisfy the needs of South African users of small company financial statements, and as a result the accounting requirements should be simplified. KEYWORDS: Financial accounting; Financial reporting requirements; IFRS for SMEs; Small companies; Users of financial statements; Small company financial statements.
Bates, Homer L.; Waldrup, Bobby E.; Shea, Vincent
Major changes are coming to U.S. financial accounting and accounting education as U. S. generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) converge within the next few years. In 2008, the U.S. Securities and Exchange Commission (SEC) published a proposed "road map" for the potential…
This thesis draws on agency theory to primarily investigate whether CEOs’ and CFOs’ voluntary certification of internal controls over financial reporting (hereafter, ICFR) is associated with audit fees and value relevance of Australian financial reports. The thesis also examines whether corporate governance and audit quality are associated with the likelihood that firms provide the CEOs’ and CFOs’ voluntary ICFR certification. While agency theory predicts that firms with high agency costs are...
Full Text Available The article analyzed the process of reforming the system of accounting and reporting in Ukraine in accordance with International Financial Reporting Standards. The main results of the tasks of the Strategy of application IFRS in Ukraine approved by the Cabinet of Ministers of Ukraine in 2007 are identified. The results of analysis showed that only 1% of the total number of enterprises form the financial statements in accordance with IFRS, the others apply national standards of accounting. The proportion of small enterprises is 95% that do not have the financial capacity, qualified staff and the necessary motivation for the formation of financial statements in accordance with IFRS. As a result, one of the main objectives of the reform of the accounting and reporting is to improve the legislation on accounting for small enterprises and develop national accounting standards of the simplified procedure for accounting of assets, liabilities, equity and financial results of the calculation for small enterprises.
Skaife, H.A.; Veenman, D.; Wangerin, D.
This paper examines the association between ineffective internal control over financial reporting and the profitability of insider trading. We predict and find that the profitability of insider trading is significantly greater in firms disclosing material weaknesses in internal control relative to
Yallapragada, RamMohan R.; Toma, Alfred G.; Roe, C. William
According to the time line presently specified by the Securities and Exchange Commission (SEC), business firms in the United States (US) should switch from the existing US accounting reporting guidelines of the Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS) by the year 2014. The US business…
The Energy Research and Development Administration (ERDA) was established by the Energy Reorganization Act of 1974 to bring together into a single agency the major energy research and development programs of the Federal Government. For the fiscal year ended September 30, 1977, Congress provided ERDA with $7355 million to carry out its programs. This was comprised of $6332 million in current appropriations, $740 million in reimbursements resulting primarily from the sale of enriched uranium, and $283 million in previously provided but unused appropriations. ERDA employed approximately 9536 scientific, technical, and support personnel and also relied heavily on the private sector to staff and operate Government-owned facilities. Contractors from industry, educational, and other non-profit organizations numbered approximately 128,141. ERDA's financial management system included an integrated accounting and budgeting system involving both Government and major contractor operations. This accrual based accounting system met all the requirements of Government fund accounting and provided management with necessary data. ERDA was abolished and its assets and liabilities were transferred to the Department of Energy on October 1, 1977. This final unclassified Financial Report of the Energy Research and Development Administration contains the financial statements presenting the financial position of ERDA at September 30, 1977, and the results of operations for the period beginning October 1, 1976, and ending September 30, 1977.
This document provides preliminary information on the quantitative impact of transition to the International Financial Reporting Standards (IFRS) on AREVA 2004 financial position, in accordance with AMF recommendations regarding financial communications during the transition period.The basis for preparing 2004 information on transition to the IFRS comes from: the International Accounting Standards (IAS)/IFRS, as approved by the European Union. The impact of IAS 32/39 and IFRS 4 will not be recognized in shareholders equity until January 1, 2005; AREVA anticipation of the resolution of technical issues and ongoing projects under discussion by the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC). Uncertainty factors on practical methods for applying certain standards and ongoing interpretations by IFRIC and regulatory organizations could impact the exactness of restatements identified at this stage. For all of these reasons, it is conceivable that the opening balance sheet at January 1, 2004, as presented in this document, will not be the balance sheet actually used to establish the consolidated financial statements for 2005. (author)
This article discusses the principles-based approach that emphasizes a "why" question by using the International Accounting Standards Board (IASB) "Conceptual Framework for Financial Reporting" to question and understand the basis for specific differences between IFRS and U.S. generally accepted accounting principles (U.S.…
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 The objective conditions of Ukraine’s integration into the global business environment the need to strengthen the accounting and financial re-porting. At the stage of attracting investment in the country there is a need in the preparation of financial statements generally accepted basic prin-ciples of which are based on common international financial reporting standards (IFRS . Relevant is the assessment of convergence of national standards and International Financial Reporting Standards. However, before you conduct content analysis necessary to determine compliance with standards of methodological approaches to the selection of key indicators for the assessment of convergence. The article is to define the methodo-logical approaches to the selection and development of indicators IFRSs list of key elements for further evaluation convergence of national and international standards. To assess the convergence was allocated 187 basic key elements measuring the level of convergence to IFRS. Sampling was carried out based on the professional judgment of the author, the key indicators of the standard, based on the evaluation of the usefulness of accounting information. These figures make it possible to calculate the specific level of convergence of international and national standards and determine how statements prepared by domestic standards corresponding to IFRS. In other words, can with some certainty assert that Ukraine has made (“good practices in IFRS implementation” or not? This calculation will assess the regulatory efforts of government agencies (Ministry of Finance on the approximation of Ukrainian standards and IFRS.
Full Text Available The aim of the study is to analyze the market’s reaction on the adoption of International Financial Reporting Standard (IFRS in Indonesia. Investor reaction will be perceived by the existence of abnormal return as well as the difference of trading volume. The analysis tool used is One-sample test to assess the existence of abnormal return and Paired Sample T-test to observe the difference trading volume 3 days before and after the announcement of financial report. The sample was constituted by 31 Indonesian companies randomly selected listed on LQ45 and have been impacted by the adoption of IFRS since 2011. The result shows that there is no abnormal return 3 days before and after the announcement of financial report. However, there is abnormal return on the day of announcement. Trading volume shows there is no market reaction to the IFRS adoption 3 days before and after the announcement.
Hilliard Theresa DiPonio
Full Text Available The Canadian transition to IFRS provides a valuable IFRS learning opportunity. The Canadian transition and implementation of IFRS provides a unique opportunity to examine the conversion of financial reporting from a similar set of financial reporting rules as U.S. GAAP in a similar economic and business environment. The implementation and adoption of IFRS is not a monolithic event. Our ability to comprehensively understand and assess IFRS requires transparent disclosures such as those mandated by IFRS 1 and disaggregation of the equity components to observe and measure the impact of IFRS as it pertains to discretionary management implementation choices, material reclassifications, and GAAP-to-GAAP differences. Comprehensive knowledge of IFRS 1, First Time Adoption of International Financial Reporting Standards is crucial to our ability to assess the transitory and future impact of IFRS. IFRS 1 sets the precedent for financial reporting under IFRS, overrides transitional provisions included in other IFRS, and prescribes detailed disclosures. This detailed “rules-based” standard permits discretionary management policy choices which have material impact on transitory reporting as well as future financial results.
Ragan, Joseph M.; Savino, Christopher J.; Parashac, Paul; Hosler, Jonathan C.
International Financial Reporting Standards now constitute an important part of educating young professional accountants. This paper looks at a case based process to teach International Financial Reporting Standards using integrated Enterprise Resource Planning software. The case contained within the paper can be used within a variety of courses…
Saifhul Anuar Syahdan; Safriansyah Safriansyah; Lisandri Lisandri
Development of accounting theory is a way of theory, practice and research. Three aspects of the accounting development is an integrated whole, which would form a logical reasoning embodied in engineering financial reporting to become a Conceptual Framework. In practical terms, the adoption of IFRS is not an option for Indonesia, but must, in the hope, foreign investment will continue to enter or even increased and we are not isolated in the international arena. Nobes ( 2010) in his book stat...
Ahmar, Nurmala; Rokhmania, Nuraini; Samekto, Agus
The aim of this study was to investigate the impact of inplementasi International Financial Reporting Standards (IFRS) on accrual earnings management and real earnings management. Adoption of accounting standards have an impact on the way of assessment, measurement and presentation. Samples are manufacturing companies listed in Indonesia Stock Exchange. Accrual earnings measurement method using five measurement approach, and three approaches to the measurement of real earnings management. The...
Nogueira, Sónia P.; Jorge, Susana M.; Cervera Oliver, Mercedes
The purpose of this paper is to analyse the perception of internal users regarding the usefulness of municipal financial reporting in the context of decision-making in Portuguese Local Administration. This research is quantitative and positive, based on a cross-section analysis through online application of a questionnaire to decision-makers (politicians and technicians) of the 308 Portuguese municipalities. The approach is based on the information usefulness paradigm. Results indicate a...
Al-Absy, Mujeeb Saif Mohsen; Ismail, Ku Nor Izah Ku; Al-Dubai, Shehabaddin Abdullah A.
Developments in the global capital market have made the adoption of International Financial Reporting Standard (IFRSs) more significant than ever before. The purpose of this study is to examine the accountants’ perception of IFRSs adoption in Yemen. We also seek the accountants’ view on whether Yemen should adopt the IFRSs or not, and on the expected time taken to adopt the accounting standards. We also examine the difference in opinion between academicians and practitioners regarding the ado...
Alves, Paulo A. P.; Moreira, José A. C.
In this paper we use a cost-benefit framework to discuss some of the expected effects related to the Portuguese adoption of the International Financial Reporting Standards (IFRS). Given the circumstances underlying this implementation, we anticipate that the overall net result following an analysis of costs and benefits will be negative. Therefore, we also examine what seems to be the causal factor behind this outcome and a potential way of reducing the net cost of adopting the IFRS. The cost...
Gorgieva-Trajkovska, Olivera; Miteva-Kacarski, Emilija
The confidence in the transparency and integrity of financial reporting is critically important to global financial stability and sound economic growth. The global financial crisis has led many economic and financial market participants to reexamine their governance, practices, and standards. Effective financial reporting depends on high quality accounting standards as well as the consistent and faithful application and rigorous independent audit and enforcement of those standards. ...
Coste Andreea Ioana
Full Text Available In the scientific literature, accounting harmonization is a top topic because it helps to increase the comparability of financial statements. Also in Romania in the last 10 years becames a topic that is very often debated. The harmonization is trying to reduce differences of financial reporting statements between countries or, in the other words, it is trying to bring to a common denominator of existing rules when appear conflicts of comparability between them. The purpose of this paper is to measure the harmonisation between national and international regulation for a significant element of financial position statement, such as noncurrent assets. This paper provides an empirical research of information that must be presented by entities which apply national accounting standards or international ones when financial statements are prepared, trying to measure the harmonization between the two referential. Thus, in trying to determine the harmonisation, we use the Jaccard coefficient in order to provide an overview of the degree of harmonization of accounting practice. When measuring the degree of comparability of Romanian accounting regulations with International Accounting Standards we analyzed noncurrent assets and impairment of assets using the Jaccard coefficient for accounting treatments and we calculated an average of similarities between the two regulations. Further, the results suggest that there is an average level of harmonization for the accounting treatment of noncurrent assets and for determining the impairment of the assets, the methods are the same. The study contributes to the development of accounting literature about the harmonisation between national regulation and international standards regarding the noncurrent assets and impairment of the assets, which together with the other elements define the activity of the business. In addition, the study provides an analysis of how the regulations treats noncurrent assets, during the
Jessica Hong Yang
Full Text Available The study aims to examine the perception of key actors regarding the costs and benefits that result from adopting International Financial Reporting Standards (IFRS in Ukraine. Design/Methodology/Approach – The authors conducted a questionnaire survey in order to identify perceptions of financial managers of Ukrainian listed firms regarding the benefits and the costs associated with transition to IFRS. Our results showed that IFRS implementation impacts on internal reporting quality, the relationship with customers, creditors and shareholders, the access to international markets and external financing. It also indicated that financial managers have serious concerns about implementation costs related to the introduction of IFRS. These costs relate to training, instruction on IFRS adoption and translation of current IFRS, changes in software systems, double purpose accounting and deadlines for IFRS adoption and consulting services. Whilst this research has established a general model that consists of six factors, affecting IFRS relevance to Ukraine, the extent of interrelations between these factors is not clear. Thus, it may be of a great interest for future research to explore this issue in more detail and, in particular, conduct empirical research to determine the extent of interdependency between six factors in the model. The results and conclusions of this research can be of a great interest to policy makers and business practitioners since all public companies in Ukraine are obliged to adopt IFRS from 2012. It might be of interest to conduct this research on results of mandatory implementation of IFRS in Ukraine while taking into account the circumstances that suggested almost no relevance of the international accounting standards to the country at the moment of their application. This is the first metrical study that discusses the relevance of IFRS to Ukraine’s national needs
Full Text Available The aims of this research is to determine the accounting student’s of understanding the application of International Financial Reporting Standardin the Asean Economic Community. Data collected through questionnaires. The sampling technique is done by purposive sampling that students of the accounting department term IV and V of the school year 2014/2015 at the Faculty of Economics and Business, Udayana University. The analysis in this study uses procentage descriptive method. This research found that students from the accounting department are well understand the development of the profession, opportunities, and chalenges facing the accounting profession in the Asean Economic Community. Keywords: Accounting, IFRS, ASEAN economic community
Shift from National Reporting to Reporting in Accordance with International Financial Reporting Standard for Small and Medium-sized Entities and Its Effect on Financial Management – the Case of the Czech Republic
Full Text Available The aim of this paper is to evaluate the effect of the shift from Financial Reporting under the Czech legislature (CZ GAAP to the International Financial Reporting Standard for financial management in Small and Medium-sized Enterprises (IFRS for SMEs. The reasons for the shift and major differences between CZ GAAP and IFRS for SMEs are mentioned, as well as the changes relevant to the shift. Not only changes in accounting departments are defined but also the changes that affect a company as a whole. Furthermore, information from Financial Reporting used in Financial Management is described. Also, the effect of the changes in Financial Reporting on this information and related modifications affecting Financial Management are evaluated.
Adwoa Acheampomaa Boateng
Full Text Available The International Financial Reporting Standards (IFRS was adopted by Ghana in 2007. The study assessed eighteen (18 professional accountants from listed firms on the Ghana Stock Exchange (GSE, to measure the benefits and challenges of IFRS. The study revealed that IFRS improved the access of local companies to international markets. It was also observed that the local firms gained more credibility, transparency, acceptance and consolidation following its adoption. However, most respondents believed that decreasing information cost, competitive leading edge, and integration of accounting Information Technology system were not major benefits as proposed by literature. Nonetheless, some of these local companies after the migration faced challenges like coping with the sophistication of the new standard, lack of qualified personnel, and additional operational cost. Nevertheless, most of the respondents disagreed with the proposition that IFRS had a negative impact on their firms’ balance of retained earnings.
Saifhul Anuar Syahdan
Full Text Available Development of accounting theory is a way of theory, practice and research. Three aspects of the accounting development is an integrated whole, which would form a logical reasoning embodied in engineering financial reporting to become a Conceptual Framework. In practical terms, the adoption of IFRS is not an option for Indonesia, but must, in the hope, foreign investment will continue to enter or even increased and we are not isolated in the international arena. Nobes ( 2010 in his book states that, the International Accounting Standards have an important role in developing countries. Adoption of IFRS is the cheapest way for these countries than setting its own standards. Since January 1 st, 2012, Indonesia has adopted IFRS, there is a gap or imbalance between academics accounting practices and understanding regarding the implementation of IFRS in Indonesia. It should be encouraged readiness for accountants, auditors, management, Tax Officials, and regulators and academics to begin adjusting to the provisions of IFRS
Full Text Available Business combinations under common control in International Financial Reporting Standards – is authoritative accounting guidance needed? The purpose of the article is to answer the question if a separate standard (IFRS is needed for business combinations under common control (BCUCC, which are not governed by any IFRS as the moment. In such cases, the approach resulting from IAS 8 should apply to them, which allows the use of national regulations to account for BCUCC. The authoress shortly described the theoretical issues related to the subject and presented the results of empirical research that verified the practical aspects of the problem. The research methodology involves a literature and legal act analysis, content analysis of financial statements, as well as deductive and inductive reasoning. On the basis of the gathered data the authoress concluded that even the existence of necessary regulations in national GAAPs does not guarantee that all the requirements related to the qualitative characteristics of the reported information are met and, as such, the main objectives for which IFRS were developed may not be met. As such, the authoritative guidance proves necessary. Very little research on the subject was published, thus, this paper may provide some additional guidance as to what issues related to BCUCC should receive particular attention.
Full Text Available The aim of this study was to investigate the impact of inplementasi International Financial Reporting Standards (IFRS on accrual earnings management and real earnings management. Adoption of accounting standards have an impact on the way of assessment, measurement and presentation. Samples are manufacturing companies listed in Indonesia Stock Exchange. Accrual earnings measurement method using five measurement approach, and three approaches to the measurement of real earnings management. The results showed that there were differences in real earnings management approach diskretioner costs and production costs. Three of the five methods used accrual earnings management (Modified Jones, Piecewise Linear and Kothari proved to be the difference between before than after IFRS. While, Stubben Model not proved in this research. Results of this study are expected to have positive contribution on the development some policies related to the adoption of IFRS and the, particularly related to the accrual earnings management and real earnings management.
Hilliard Theresa DiPonio; Neidermeyer Presha
The Canadian transition to IFRS provides a valuable IFRS learning opportunity. The Canadian transition and implementation of IFRS provides a unique opportunity to examine the conversion of financial reporting from a similar set of financial reporting rules as U.S. GAAP in a similar economic and business environment. The implementation and adoption of IFRS is not a monolithic event. Our ability to comprehensively understand and assess IFRS requires transparent disclosures such as those mandate...
Ozmeral, Alisha Bhadelia; Reiter, Kristin L; Holmes, George M; Pink, George H
Medicare cost reports (MCR), Internal Revenue Service form 990s (IRS 990), and audited financial statements (AFS) vary in their content, detail, purpose, timeliness, and certification. The purpose of this study was to compare selected financial data elements and characterize the extent of differences in financial data and ratios across the MCR, IRS 990, and AFS for a sample of nonprofit critical access hospitals (CAHs). Line items from AFS of 47 CAHs were compared to data reported in the hospitals' MCR and IRS 990s. Line items were based on 9 financial indicators commonly used to assess hospital financial performance. Of the indicators examined, the equity financing ratio most frequently matched between the 3 reports, while salaries and benefits to total expenses and debt service coverage were often different. Variances were driven by differences in individual account balances used to construct the ratios. Relative to AFS, cash was frequently lower on the IRS 990 while marketable securities and unrestricted investments were often higher. Other revenue and net income were consistently lower on the MCR and IRS 990, and depreciation was often higher on the MCR. The majority of total assets and fund balance (equity) values matched across the 3 reports, suggesting differences in classification among detailed accounts were more common than variances between the component totals (total assets, total liabilities, and fund balance). Health policy researchers should consider the impact of these variances on study results and consider ways to improve the availability and quality of financial accounting information. © 2012 National Rural Health Association.
Full Text Available This study examined the effect of mandatory International Financial Reporting Standards (IFRS adoption on the cost of equity capital on Nigerian firms and whether the cost of equity capital effect after adoption of IFRS can be moderated by Return on Equity. The study covered a sample of 11 listed companies in the industrial goods sector for the period 2011 and 2013. The data for the study was secondary data generated from the annual reports and stock market report websites. The cost of equity capital was shown as the expected return on the basic value of a share and computed based on pre and post-adoption data. Findings from the study revealed that there is a significant positive relationship between the cost of equity capital and IFRS adoption indicating that the cost of equity capital increased. The market-based performance measure failed to have significant effect on the cost of equity capital after mandatory adoption. The study recommends that policies that improve domestic savings, as a principal source of equity capital, be enacted as an increase should lead to a reduction in the cost of equity capital, interest rates and increase the appeal of equity and foreign investments.
Coste Andreea Ioana; Fekete Pali-Pista Szilveszter
In the scientific literature, accounting harmonization is a top topic because it helps to increase the comparability of financial statements. Also in Romania in the last 10 years becames a topic that is very often debated. The harmonization is trying to reduce differences of financial reporting statements between countries or, in the other words, it is trying to bring to a common denominator of existing rules when appear conflicts of comparability between them. The purpose of this paper is to...
Coste Andreea Ioana; Fekete Pali-Pista Szilveszter
In the scientific literature, accounting harmonization is a top topic because it helps to increase the comparability of financial statements. Also in Romania in the last 10 years becames a topic that is very often debated. The harmonization is trying to reduce differences of financial reporting statements between countries or, in the other words, it is trying to bring to a common denominator of existing rules when appear conflicts of comparability between them. The purpose of this paper is to...
This thesis studies the way the profession, key actors and other users perceive the use of IFRSs in Greece. The focus is mainly on providing evidence of perceptions towards the transition and implementation process, the way financial statements are used, what challenges are encountered and the recognised benefits after the adoption of IFRSs. The thesis explores the views of actual users about the usefulness of financial reports relating to the impact of IFRSs in an economy with different inst...
Robert Lafrance; James Powell
International financial institutions, such as the International Monetary Fund, the World Bank and the Bank for International Settlements, are important players in the global financial system. This article provides an overview of the major international financial institutions to which Canada belongs. The paper highlights their activities and the nature of Canada's involvement, including that of the Bank of Canada. Recent initiatives coming out of the Halifax and Lyon Summits to improve the eff...
This dissertation explores how financial reporting enforcement differs in Europe and how these differences influence the materiality assessment and disclosure decisions made by the preparers of the financial statement. Furthermore, it analyses how financial reporting enforcement influences...... al. 2013, Brown et al. 2014). This heterogeneous enforcement has created a particular need to understand how enforcement influences financial reporting if the primary users must be able to use it as a reliable source of information. This issue is investigated in the following three papers...
Shift from National Reporting to Reporting in Accordance with International Financial Reporting Standard for Small and Medium-sized Entities and Its Effect on Financial Management – the Case of the Czech Republic
The aim of this paper is to evaluate the effect of the shift from Financial Reporting under the Czech legislature (CZ GAAP) to the International Financial Reporting Standard for financial management in Small and Medium-sized Enterprises (IFRS for SMEs). The reasons for the shift and major differences between CZ GAAP and IFRS for SMEs are mentioned, as well as the changes relevant to the shift. Not only changes in accounting departments are defined but also the changes that affect a company as...
Jaunzeme Justine Sophia
Full Text Available Application of discount rate in finance and accounting is founded on the concept of time value of money. Discounted cash flow model is widely used for asset valuation under the International Financial Reporting Standards (in abbreviation, IFRS. The discount rate applied in valuation models normally is the best rate of return that investors would earn alternative investments. With emergence of ecological economics as a separate branch of economics, the concept of ecological (or in other words, environmental discount rate has been elaborated. Muller (2013 in his paper ‘The Discounting Confusion: an Ecological Economics Perspective’, argues that traditional discounting can undermine long-term sustainability of the economy. In his work, Frank G. Muller considered adjusting the traditional discount rate in order to arrive at an environmental discount rate, which would help to ensure the sustainability of the economy. Hannon (2001 and Perrings (2001 in their paper ‘An Introduction to Spatial Discounting’ consider another variation of the discount rate - spatial discount rate. Spatial discount rate represents the rate at which the diffusion of environmental effects of economic activities is discounted over space. By February 2016, neither the application of environmental nor spatial discount rates under IFRS has been considered. The purpose of this paper is to analyse the implications that environmental and spatial discounting would have for the application of discounted cash flow model according to IFRS. The research methods applied are methods of economic analysis and synthesis.
The idea that policy diffusion can occur via two different mechanisms has gained attention in the realm of international accounting since the European Union’s adoption of International Financial Reporting Standards (IFRSs) in 2005. Proponents of classical economic approaches to policy adoption argue that countries adopting IFRS are motivated solely by the economic consequences of the standards from which they anticipate an improvement in information quality. Neo-institutional scholars argue, ...
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 Integrated reporting (IR is an emerging practice increasingly capturing the attention of companies. The purpose of this paper is to analyze how the integrated reports issued by companies from the financial sector in Europe are following the guidance of the International Integrated Reporting Framework (IIRF. To achieve this objective, we analyzed the way in which the integrated reports of eight companies are following the guidance provided by the IIRF. As a result, we noticed that the annual report of Generali scored the highest compliance level with the guidance of the IIRF, but each one of the companies stood out with respect to at least one of the guiding principles or fundamental concepts mentioned in the IIRF. Although the companies included in the sample are in different stages of IR adoption, our results contribute to understanding the practice of IR. The conclusions support the use of a tool to measure the compliance of an integrated report to the existing requirements in the context of an industry linked to many other domains.
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.
Blums, Ivar; Weigand, Hans; Borgo, Stefano; Kutz, Oliver; Loebe, Frank; Neuhaus, Fabian
Among models and information about economic phenomena which help to understand how enterprises produce value, Accounting and Financial Reporting still play a leading and regulative role. The regulative role is established by enforceable International Financial Reporting Standards (IFRS). Ontology
Full Text Available Quality of financial reporting is limited to issues of compliance to statutory provisions under which state enterprises in Zimbabwe operate, usefulness of the reports produced and their impact on the national fiscus. It is thus measured by way of compliance to these expectations and is indicated by way of a disclosure index signifying the presence of each of the expected aspects. This study therefore sought to establish the contribution of enterprise risk management and internal audit function towards the quality of financial reporting in universities in Zimbabwe. The study adopted a desktop analysis where relevant literature was reviewed. Quality of internal audit function was found to influence quality of financial reporting in that the strength, or quality, of the IAF will contribute to a distinctly different control environment depending on the strength of the good corporate governance in the university. Findings of this desktop research have undoubtedly revealed the gaps in the governance processes in state universities and it is envisaged that a careful analysis of these lacunas will provide a guide in the development of strategies and policy that strengthen state enterprise governance processes. It is hoped that this will help the parent ministry in charge of state enterprises, and, the relevant management of specific state enterprises to determine the magnitude of resources and efforts for implementation of efficient and effective enterprise risk management, internal audit function and corporate governance systems
Erlynda Y. Kasim
Full Text Available Abstract The quality of financial reporting produced by the company are expected to meet the quality characteristics to Achieve the objective of the conceptual framework of financial reporting. Good implementation of adequate corporate governance in a company is one of the factors that Determine the quality of financial reporting. Similarly the internal implementation of audit firm certainly factors Affect the quality of financial reporting. Quality financial reporting will certainly get a market response that can be seen from the level of the stock return. The paper examines two independent variables items namely Good Corporate Governance and Internal Audit and its influence on the quality of financial reporting and its implications to Return Shares. In the design of this study will be performed on companies listed in the Indonesia Stock Exchange with multiple linear regression method.
Full Text Available Romania started a process to reform the accounting system, having the assistance benefit of EU countries (France, Belgian, and UK. Initial path chosen by Romania to harmonize accounting system was marked by the Accounting Law 82/1991 and subsequent amendments and regulations for its implementation reflected the tortuous road to EU accession and accumulation achieved by developing the accountancy profession. Interms of accounting regulatory level, we can say, without fail, that now Romania is perfectly in line with European requirements in financial reporting, as the country recently became a member of the European Union. Thus, Accounting regulations with European directives (approved by MPFO 1752/2005, then modified and supplementedby MPFO 2001/2006 provide reporting framework in strict correlation with the requirements of European directives in the field.
Marsh, Patricia A
.... A well-designed process for reporting real property on financial statements employs standard data elements and transaction processes, consistent internal controls, and efficient transaction entry...
This Annex includes financial report of the RA Reactor engineering group from 1987-1988. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water [sr
This Annex includes financial report of the RA Reactor engineering group from 1981-1985. detailed data concerning operating and continual and investment maintenance costs, amortization related to the reactor, fuel elements and heavy water [sr
This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)
Full Text Available The new regulation on the Indonesian Capital Market (XK6-Bapepam-LK No. KEP-431/BL/ 2012, related to the disclosure of financial information on the company's website is the main motivation of this study, which is to analyze the extent to which issuers responded to the new regulation. The study was conducted on 50 companies included in the list of 50 companies with the highest score of corporate governance version IICD in 2013 - 2014 and 57 companies in the same industry as a control companies, with the total number of samples is 107 companies. The study was conducted by analyzing the factors (size, listing period, industry, the quality of corporate governance that affect the level of disclosure by the company on their website. The results showed that not all sample companies do a full disclosure and the average disclosure is only 77%. Further, the factor of disclosure size was also influenced by the company's internal characteristics such as company size, type of industry and good corporate governance.
Reporting Forms. Forms should simplify and speed the process of financial reporting. An illustration of the forms follows each short description below. Project Information Summary — FR1. This page asks you to identify the project, specify the time period covered by the report, and certify your institution's endorsement of the ...
Doina Maria Tilea; Vasile Bleotu; Alexandra Ana Maria Serban
Financial reporting using the latest version of IFRS (2011), a result of the IASB research in cooperation with the standardizers of the national accounting standards in order to achieve convergence in accounting standards around the world on the one hand, and on the other hand to provide a set of highly qualitative global accounting standards, requires transparent and comparable information of general purpose financial statements.
Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)
Hinojosa-Mart??nez, Luis M.
This work provides a comparative analysis of international financial institutions??? transparency policies and denounces their shortcomings and excessive prudence, and in the case of less formal cooperation bodies (such as the G-20 or the Financial Stability Board), the lack of attention to basic transparency concerns. The study shows that a higher degree of institutionalization calls for a more coherent and open transparency policy, as more structured institutions have at their disposal the ...
Sarhad Hamza Khdir
Full Text Available The objective of mandatory adoption of IFRS is to enhance the quality of accounting information in worldwide. However, this effort made challenged for European Union as a supranational body to achieve similar advantages of converged the IFRS standards. This study examines the effectiveness of IFRS on the European Union as a supranational body and whether the EU has successfully converged to the IFRS standards. The paper will also analyze if there are any difficulties with switching to the IFRS standards versus the traditional local accounting practices in EU. The results obtained show that the first application of IFRS has adopted among EU countries and the results indicate that the adoption of IFRS leads to improvement in value relevance. The results also imply that the IFRS adoption for EU does not ensure better quality of accounting information and standardized IFRS is not effective to implement for all EU because there is a lot of misperception in terms of these guidelines for preparing financial statement. The culture difference among EU shows that IFRS is not fits size standard for all EU that can lead EU to conform at the same time. The conclusion of this report will provide the answer whether it is or not effective for the EU to fully converge to the IFRS standards as a whole.
Contrary to the national financial reporting standards the International Financial Reporting Standards (IFRSS) have a unique international character. The paper starts with a description of the historical development of the IFRSS followed by a list of the most important institutions linked to IFRSS such as the International Accounting Committee Foundation (IASC Foundation), International Accounting Standards Board (IASB) and International Financial Reporting Interpretations Committee (IFRIC). ...
Full Text Available The most business entities in Europe are small or medium-sized enterprises (SME, which have a legal obligation to prepare financial statements in accordance with a set of accounting principles accepted in their country. Those statements are available to creditors, suppliers, and national governments but they could be badly understandable to creditors, suppliers and subjects in other countries. This is a great obstacle of their activities in the EU internal market. The existence of 27 different national accounting systems in the EU can be held for the most important obstacle.There are many ways how to develop compatible accounting standards for SMEs but the most significant activity in this field is the research project of IASB (International Accounting Standards Board. IASB has developed IFRS (International Financial Reporting Standards. Even though IFRS are suitable for all enterprises, their application in case of SMEs would be very expensive and could significantly increase compliance costs of taxation. This development has not been finished yet and there are still some problems which need to be solved before the introduction of accounting standards to the public. The research has shown that IFRS for SMEs should be used mainly by the entities which do not have public accountability – i.e. that its equities are not publicly traded and do not hold assets in a fiduciary capacity for a broad group of outsiders. This paper discusses those IFRS modifications, which should be done in case of SMEs.
Full Text Available This article considers the role of the European Union in international financial governance after the institutional reforms it undertook in connection with the global financial crisis. It suggests that the new administrative actors that support the governance of the European Union's single financial market, notably the European Supervisory Authorities, have the potential to reshape how the European Union engages with international financial governance. It finds that the European Union’s effectiveness in influencing international financial governance—and the effectiveness of international financial governance more generally—is likely to strengthen as a result.
Rosinta Ria Panggabean
Full Text Available International accounting topic was rare to adress between accounting practices, especially International Accounting Standard. It occured due to the restrictive source and difficulty in finding the source. However, recently the standard has been an addressed issue since Indonesia Chartered of Accountant (IAI plans to comply the Indonesia Accounting Standard (SAK with the International Financialreporting(IFRSon1stJanuary2012.The purpose of the research is to measure the compliance of the (SAK per 1st January 2008 with the IFRS per 1st January 2008 and attain the association between those two standards. Hence, the difference between the two standards and the neccessary steps to be taken for complying can be obtained. The methodology will be used in the paper are Jaccard’s Coefficients, Spearman’s Correlation Coefficient,Euclidean Distances.The sample for the paper will be 43 accounting issues adressed on both standards that have been chosen and investigated. The paper concludes that there are significant equalities (75% between SAK per 1st January 2008 and IFRS 1st January 2008. (using Jaccard’s Coefficients. Due to several problems that have been found in the research, the author wish that the further researchers could widen the research’s samples, so the result will be more accurate and comprehensive.
Full Text Available In the context of economic globalization, the need for high quality financial information has become a desiderate. Accounting met such needs through a set of high quality standards, the International Financial Reporting Standards. Their global imposing, either through adoption or convergence, make its contribution to proper functioning of capital markets and even of the entire economy. The quality of financial reporting, however, is the result of how they are applied in each country or company. The objective of our study is to analyze the disclosure level of companies listed at Bucharest Stock Exchange (BSE in compliance with the presentation requirements of the international accounting standard IAS 38 “Intangible assets”. The empirical study revealed a significant level of non-compliance. In order to determine the degree of compliance with international accounting referential we built a disclosure index. Four hypothesis were tested in order to identify the factors that influence the disclosure level.
Full Text Available The purpose of this paper is to present a personal vision on some general issues concerning the application of IFRS by companies from Romania. Our references consider the objective, the role and importance of IFRS adoption, as well as the advantages and disadvantages of their application. Applying IFRS also in Romania emerged from the need to ensure conformity of national accounting rules with EU regulations. IFRS adoption by the Romanian companies has lead to access to international capital markets, has helped to reduce running costs and to an efficient and easy international transactions. Applying IFRS allowed and will allow companies to relate to other similar companies in the world, investors and other interested users to compare the company’s performance with competitors globally. Through this article I sought to point out some theoretical aspects concerning the role and importance of the application of IFRS by companies in Romania. I intended that the article’s results and the individual research to be achieved in an easy-come, structured document so as to constitute a means of informing regarding the general vision on the application of IFRS.
ЯНІКІН, С.В.; ДВНЗ «КНЕУ імені Вадима Гетьмана», кафедра міжнародних фінансів
This article describes a number of ways, which may facilitate the improvement of activities of international financial institutions at the present level of the global financial system development. Particular attention is paid to the problem of international public goods and their delivery by international financial institutions. Further, an approach of financial dedollarisation of IFIs is discussed as one of highly effective mechanisms. In addition, the article raised and examined in detail ...
U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major...
... Reporting of Specified Foreign Financial Assets AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... Regulations (26 CFR part 1) for reporting specified foreign financial assets under section 6038D of the... individual must include on the statement reporting specified foreign financial assets. For a financial...
Full Text Available In recent years the tourism industry has seen a rise in scope and influences both in the political and economic arenas. The industry has become exposed to risks such as money laundering and fraudulent reporting, demanding the use of International Financial Reporting Standards (IFRS to reduce differences in financial reporting and increase the attractiveness of the sector for investors. For the purpose of this paper, a sample of 611 equities in the tourism and hospitality business was used in order to understand the state of financial reporting in the sector with an emphasis on the relevance of financial information and other issues such as timeliness and the adherence to a true and fair presentation. The research reveals the enhanced relevance obtained from the use of the IFRS as well as risks for the financial management of the companies.
Diana Sabina COZMA IGHIAN
From investors’ point of view, financial results are not sufficient to offer an overview of a given business. To provide an overview on the activity of an entity, reports will need to include both the traditional financial and non-financial part to provide information on sustainable development, the impact of the activity on the environment, and social responsibility.\\r\
Schermann, Kenneth R.
Alerts public school business officials to a financial reporting concepts statement to be issued by the Governmental Accounting Standards Board in late 1986. The new directive will outline four objectives concerned with accountability procedures, resource management and compliance information, operating results, and future financial capabilities.…
Andrei R. CRIŞAN
Governments in general provide two main types of financial information: Government Finance Statistics (GFS), used for macroeconomic analysis and General Purpose Financial Reports (GPFR), more or less according with International Public Sector Accounting Standards, used for making decisions in the public sector entities. The aim of this paper is to make a comparison between GFS and GPFR to extract the similarities and differences between them. The documents of GFS and GPFS will be compared row...
... Reporting of Specified Foreign Financial Assets AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... foreign financial assets and the value of those assets is more than the applicable reporting threshold... hold specified foreign financial assets generally will be excepted from reporting such assets under...
Full Text Available Using eXtensible Business Reporting Language (XBRL in financial reporting increases transparency by allowing viewing the details of the information provided by organizations without subdividing it and the possibility of easy access and processing information, even if it is presented in different languages or it results from the application of different regulations. Through this paper we try to emphasize the transparency ensured to financial reporting by using XBRL, which is why wetransposed in this modern format, partially, the contents of one of the components of financial reports, namely, the balance sheet. In this process we based on the requirements of the Romanian accountingregulations in compliance with European directives, XML requirements and XBRL requirements concerning schemas, linkbase files and instances, and we used three of the modules of Altova MissionKit application (XMLSpy, MapForce and StyleVision, while taking into account the best practices in the field.Keywords: financial reporting, XBRL, transparency, specification, taxonomy, instance
Operating and financial report of Tenaga Nasional Berhad is presented. Tenaga Nasional Berhad is the largest electric utility in Malaysia. The details of all revenues and expenditures are also addressed
Operating and financial report of Tenaga Nasional Berhad is presented. Tenaga Nasional Berhad is the largest electric utility in Malaysia. The details of all revenues and expenditures are also addressed
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…
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...
Dzhamilya F. Ismailova
Full Text Available The article considers the theoretical aspects of internal financial control, summarizes the definition formulated by scientists and experts, analyzed for differences between incompany and intrafarm control. The article discusses the collapse of Enron, notes the general provisions of various types of financial control.
The article aims at discussing the evolution of the concept of materiality in financial and, more specifically, non-financial reporting. Materiality will play a central role in the next years in order for reports to reach conciseness, which is at present one of the main goals both financial and non-financial reporting (in particular Integrated Reporting) aims to achieve. The article reviews the most relevant materiality frameworks and definitions and provides further insights for the advancem...
... Reporting of Specified Foreign Financial Assets; Correction AGENCY: Internal Revenue Service (IRS). ACTION... to the reporting of specified foreign financial assets. DATES: Effective Date: December 19, 2011. FOR... ``Explanation of Provisions'', paragraph B. 2., line three, the language ``or executor is a bank, financial'' is...
Office 2004 Test Drive User
Jun 30, 2016 ... Management is responsible for the preparation and fair presentation of these condensed quarterly financial statements, which, we confirm, have been prepared in accordance with the International Accounting Standard 34 (Interim Financial. Reporting) and the Standard on Quarterly Financial Reports for ...
Full Text Available Financial contagion is a complex and multivariate process, with no widely accepted definition and an accurate measurement methodology. Contagion became more and more the central idea of research studies because it is perceived as a problem, and often associated with financial crises. The reason for that international diversification of investment portfolios is applied to protect against country risk, is no longer valid, correlations between markets largely vanishing its benefits. In this article we intend to present the ways in which the subject of international financial contagion was approached.
General Services Administration — For a visual depiction of GSA's Balance Sheet and Statement of Net Cost, please use the interactive charts to view the financial results for fiscal years 2007-2013.
... 7 Agriculture 6 2010-01-01 2010-01-01 false Financial reporting. 550.53 Section 550.53 Agriculture... Reports and Records § 550.53 Financial reporting. Financial Status Report. (a) Each REE Agency shall.... A financial status report shall consist of the following information: (1) The name and address of...
Full Text Available In the context of the global economic crisis, small and medium enterprises are most affected. That is why the problem that arises more frequently is the harmonization of national legislation with the European legislation. The necessity to implement specific standards for SMEs appeared in order to provide them a beneficial framework for better economic and financial market positioning. In this respect, the International Accounting Standards Board issued in 2009 IFRS for SMEs, a referential aiming to the simplification of accounting procedures, reconciliation and increase of confidence of potential investors (stakeholders. The question of compatibility of these standards with the European Accounting Directives appears in situations where they may choose to use IFRS for SMEs. The aim of this paper is to evaluate the incompatibilities between IFRS for SMEs and the European Accounting Directives and to analyze the results concerning the implementation of the IFRS for SMEs in Europe. Through this article we want to contribute to the SME accounting area of knowledge.
Quick Reference – Financial Reporting. 1. Only use and work on the updated workbook provided to you by your IDRC representative. The file will be sent before each reporting period. 2. Always enable macros to open workbook and click yes on the security warning window to make the workbook a trusted document. 3.
Ayuba A. Aminu
Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.
... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Financial reporting. 435.52 Section 435.52... ORGANIZATIONS Post-Award Requirements Reports and Records § 435.52 Financial reporting. (a) Authorized forms... financial information from recipients: (1) SF-269 or SF-269A, Financial Status Report. (i) SSA requires...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial reporting. 3016.61 Section 3016.61... AND LOCAL GOVERNMENTS Entitlement § 3016.61 Financial reporting. The financial reporting provisions... Food Distribution Program on Indian Reservations. The financial reporting requirements for these...
Full Text Available It is known that licensed banks in the Republic of Moldova are in the period of fulfilling the action plan with a view to implementing the project on transition from the National Accounting Standards to the International Financial Reporting Standards (IFRS. Fair and timely decisions are only possible based on objective and successive information, which explains the need for IFRS. At the same time, a major role in popularization of IFRS is played by the specialized publications. Therefore, this article aims at highlighting genuine financial information, transparency, comparability of accounting data and will increase reliability of financial statements of licensed banks. In conclusion we report that when calculating the effective interest rate, the bank estimates cash flows considering all contractual terms of the credit, but does not take into account future credit losses. The calculation includes all commissions and points paid or received by contractual parties that are an integral part of the effective interest rate, transaction costs and all other premiums and discounts.
... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Financial reports. 226.6 Section 226..., DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE RECOGNITION OF INSURANCE COVERING TREASURY TAX AND LOAN DEPOSITARIES § 226.6 Financial reports. Financial reports of Insurance Organizations shall be...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Financial reporting. 84.52 Section... Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status Report...
... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Financial reporting. 215.52 Section 215.52... Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status Report...
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
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.
Seabrooke, Leonard; Nilsson, Emelie Rebecca
In 2006, the International Monetary Fund's (IMF) Financial Sector Assessment Program (FSAP) lauded Iceland's capacity to “withstand extreme, but plausible, shocks,” which was clearly an error in judgment. After the international financial crisis hit, IMF officials bemoaned the lack of professional...... market skills in FSAP teams. Importing these skills was difficult given IMF staff freezes, but postcrisis FSAP continued with heightened legitimacy inside and outside the IMF. This article provides an assessment of FSAP teams, focusing on the hiring of external experts and their professional skills. We...... are a consequence of demands for professional insulation, institutional legitimation, and a view of professionalism as transnational organizational competence....
The purpose of this report on corporate financial reporting in Austria is to describe the key features of Austria’s corporate financial reporting environment as well as its practical application in regard to small and medium enterprises (SMEs’) financial reporting practices in Austria. This report builds on the World Bank accounting and auditing reports on standards and codes (ROSC) method...
Full Text Available This study examines whether socially responsible firms behave differently from other firms in their financial reporting. Specifically, we question whether firms that are better in their corporate social responsibility (CSR performance also behave in a responsible manner to maintain their financial reporting quality and whether the market rewards such responsible behaviors. Using data from S&P 500 US companies, we find that socially responsible firms are less likely to manage their earnings. However, we fail to find significant relationships between CSR and investors’ perceptions on earnings, measured by stock returns and earnings response coefficient. We interpret the results as investors not fully reflecting the benefits from CSR performance. Our findings are consistent with the notion that CSR activities are motivated by managers’ ethical incentives to serve the interests of stakeholders.
The internal controlrelated objectives for our audits of the Office of the Secretary of Transportation's (OST) Financial Statements for Fiscal Years (FY) 1994 and 1995 were to determine whether OST and the Federal Transit Administration (FTA) (i) had...
Gegetsik A. Tovmasyan
Full Text Available The article deals with the problem related to information base of accounting (financial reporting, which depends on conducting accounting and creation of detailed classification of chart of accounts of the Russian Federation. It is offered to change the structure of the balance sheet and the report on changes of the capital in the Russian Federation with introduction of “paid-in capital” indicator which not only unifies the reporting according to IFRS, but also will allow objectively estimating and predicting results and risks of both business activity and investment activity.
... Reporting of Specified Foreign Financial Assets; Correction AGENCY: Internal Revenue Service (IRS). ACTION... the reporting of specified foreign financial assets. FOR FURTHER INFORMATION CONTACT: Joseph S.... List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. PART 1...
Full Text Available This paper analyses the attributes of interim financial reporting, as well as performs overview and interpretation of International Accounting Standard 34 which deals with this issue. The paper emphasizes risk and effects of interim financial statements implementation in decision making process. Time and cost limitations significantly influence the level of reliability on interim reports since those reports were not audited.
Kaćanski Slobodan; Tomašević Stevan; Vlaović-Begović Sanja
This paper analyses the attributes of interim financial reporting, as well as performs overview and interpretation of International Accounting Standard 34 which deals with this issue. The paper emphasizes risk and effects of interim financial statements implementation in decision making process. Time and cost limitations significantly influence the level of reliability on interim reports since those reports were not audited.
Thinggaard, Frank; Evans, Lisa; Gebhardt, Günther
and questions arising from this. This paper briefly introduces the background to the publication of the Discussion Paper. This is followed by a review of prior litterature on SME financial reporting implications, prepared by the European Accountin Association's Financial Reporting Standards Committee...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial reporting. 145.52 Section 145.52....52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status...
... 29 Labor 1 2010-07-01 2010-07-01 true Financial reporting. 95.52 Section 95.52 Labor Office of the... Records § 95.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients: (1) SF-269 or SF-269A, Financial...
... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Financial reporting. 1210.52....52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status...
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Financial reporting. 320.10 Section...-BACKED SECURITIES Pass-Through Type Securities § 320.10 Financial reporting. Issuers shall submit to the Association audited annual financial statements within 90 days of their fiscal year end. All financial...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial reporting. 3430.56 Section 3430.56... reporting. (a) SF-269, Financial Status Report. Unless stated differently in the award terms and conditions... requirement. (f) Additional reporting requirements. CSREES may require additional financial reporting...
During the last time in the development of the financial reporting and frauds there have emerged several problems related to the quality of several indicators on the financial statements and especially the quality of the earnings indicator. According to the literature on the financial reporting it results that companies have the possibility to smooth earnings or manage earnings as a tool to avoid reporting a loss. While the economic entities are using the national and international accounting...
Aleksei Vladimirovich Kuznetsov
Full Text Available The world is changing, moving towards multi-polarity. However, despite the explicit shifting of the center of economic gravity from the West to the East, the dominance of the West in establishing the rules of conduct in the global economy and global finance remain virtually immutable. The author argues that the widely-discussed reform of the IMF quota and governance has not led to a significant strengthening of the role of the most dynamically developing emerging economies in the Fund’s decision-making. Regional economic players (such as the BRICS have been actively involved in the international division of labor. However, the existence of institutional financial monopolies hinders the redistribution of global value added. Armed with the advanced information technologies and financial innovations, the leaders of financial globalization are redirecting scarce global resources in favor of the world-systemic core. The study is based on comparative methods and system analysis and aims to provide a comprehensive view on the way of involvement of global financial institutions in the control of the processes of financial globalization. US dominance in international financial institutions contribute to the further advancement of the global role of dollar as reserve currency of central banks, the currency of international settlements, deposits, loans and investments. It’s shown that the implementation of financial globalization is strongly correlated with the concept of the «center-periphery» model, on which the functioning of the global capital market is dependent. The features of the modern structure of the global currency market are summarized. The article reveals some legal aspects of global governance, in particular the role of the Anglo-American law in the global economy and global finance. It is concluded that for full participation of emerging markets, particularly the BRICS countries, in the processes of globalization, it is necessary to
Claudia Nicoleta GUNI
Full Text Available The domain of accounting and management control at the level of multinational corporations operating in a global economic environment is an interesting blend of two disciplines: the international component of management and, on the other hand, the more technically challenging side of recording and handling financial-accounting information, which is seen as an "optimal information package". The need for accounting and management control derives from the company's strategy, serving as a source of information for the management and as an instrument for validating the convergence of the company's interests and those of its employees.
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Financial reporting. 92.41 Section 92.41 Public... Reports, Records Retention, and Enforcement § 92.41 Financial reporting. (a) General. (1) Except as... authorized by OMB, for: (i) Submitting financial reports to Federal agencies, or (ii) Requesting advances or...
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Financial reporting. 31.41 Section 31... Post-Award Requirements Reports, Records, Retention, and Enforcement § 31.41 Financial reporting. (a... may from time to time be authorized by OMB, for: (i) Submitting financial reports to Federal agencies...
... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Financial reporting. 143.41... Reports, Records, Retention, and Enforcement § 143.41 Financial reporting. (a) General. (1) Except as... authorized by OMB, for: (i) Submitting financial reports to Federal agencies, or (ii) Requesting advances or...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial reporting. 226.52 Section 226.52...-GOVERNMENTAL ORGANIZATIONS Post-award Requirements Reports and Records § 226.52 Financial reporting. USAID requires recipients to use the Standard Form 425 or Standard Form 425a, Federal Financial Report, or such...
... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Financial reporting. 1273.41 Section 1273... Reports, Records, Retention, and Enforcement § 1273.41 Financial reporting. (a) General. (1) Except as... authorized by OMB, for: (i) Submitting financial reports to Federal agencies, or (ii) Requesting advances or...
... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial reporting. 43... Post-Award Requirements Reports, Records, Retention, and Enforcement § 43.41 Financial reporting. (a... may from time to time be authorized by OMB, for: (i) Submitting financial reports to Federal agencies...
... 32 National Defense 1 2010-07-01 2010-07-01 false Financial reporting. 33.41 Section 33.41... GOVERNMENTS Post-Award Requirements Reports, Records, Retention, and Enforcement § 33.41 Financial reporting... forms as may from time to time be authorized by OMB, for: (i) Submitting financial reports to Federal...
... 29 Labor 4 2010-07-01 2010-07-01 false Financial reporting. 1470.41 Section 1470.41 Labor... Reports, Records Retention, and Enforcement § 1470.41 Financial reporting. (a) General. (1) Except as... authorized by OMB, for: (i) Submitting financial reports to Federal agencies, or (ii) Requesting advances or...
... 45 Public Welfare 4 2010-10-01 2010-10-01 false Financial reporting. 2541.410 Section 2541.410... GOVERNMENTS Reports, Records, Retention and Enforcement § 2541.410 Financial reporting. (a) General. (1... time to time be authorized by OMB, for: (i) Submitting financial reports to Federal agencies; or (ii...
... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Financial reporting. 1207.41... GOVERNMENTS Post-Award Requirements Reports, Records, Retention, and Enforcement § 1207.41 Financial reporting... forms as may from time to time be authorized by OMB, for: (i) Submitting financial reports to Federal...
... information by site, activity, and operable unit, as applicable. (ii) A final Financial Status Report (FSR... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Financial reports. 35.6670 Section 35... Actions Reports Required Under A Cooperative Agreement § 35.6670 Financial reports. (a) General. The...
FINANCIAL REPORTING AT THE WASHINGTON HEADQUARTERS SERVICES Report No. D-2001-081 March 15, 2001...to) ("DD MON YYYY") Title and Subtitle Financial Reporting at the Washington Headquarters Services Contract or Grant Number Program Element Number...underlying financial reporting processes that cause abnormal balances on the trial balances of Other Defense Organizations. An account balance is abnormal
Alabama State Commission on Higher Education, Montgomery.
Guidelines for preparing year-end financial reports are provided for Alabama public university staff to insure that reporting formats produce comparable financial reports and to keep up with recent developments in college accounting and financial reporting. The public institutions comply with two publications issued by the American Institute of…
... Reporting of Specified Foreign Financial Assets; Correction AGENCY: Internal Revenue Service (IRS), Treasury...), which were published in the Federal Register on Monday, December 19, 2011, relating to the reporting of specified foreign financial assets. DATES: Effective date: This correction is effective February 21, 2012...
... 39 Postal Service 1 2010-07-01 2010-07-01 false Financial reports. 3050.35 Section 3050.35 Postal Service POSTAL REGULATORY COMMISSION PERSONNEL PERIODIC REPORTING § 3050.35 Financial reports. (a) The... submission of the Federal Budget by the President to the Congress); and (d) Integrated Financial Plan (within...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Financial reporting. 1174.41 Section 1174.41... Enforcement § 1174.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 22 Foreign Relations 2 2010-04-01 2010-04-01 true Financial reporting. 518.52 Section 518.52... Requirements Reports and Records § 518.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269...
... 49 Transportation 1 2010-10-01 2010-10-01 false Financial reporting. 18.41 Section 18.41... Enforcement § 18.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Financial reporting. 85.41 Section... § 85.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of this... financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters of credit...
... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Financial reporting. 66.41 Section 66.41..., Retention, and Enforcement § 66.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a..., for: (i) Submitting financial reports to Federal agencies, or (ii) Requesting advances or...
... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Financial reporting. 14.52 Section 14... COMMERCIAL ORGANIZATIONS Post-Award Requirements Reports and Records § 14.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial...
... 21 Food and Drugs 9 2010-04-01 2010-04-01 false Financial reporting. 1403.41 Section 1403.41 Food... Enforcement § 1403.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Financial reporting. 437.41 Section 437.41... Enforcement § 437.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a)(2) and (5) of...) Submitting financial reports to SSA, or (ii) Requesting advances or reimbursements when letters of credit are...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Financial reporting. 1157.41 Section 1157.41... Enforcement § 1157.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 49 Transportation 1 2010-10-01 2010-10-01 false Financial reporting. 19.52 Section 19.52... Requirements Reports and Records § 19.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Financial reporting. 602.41 Section 602.41 Public... Requirements § 602.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Financial reporting. 24.41 Section 24..., Records, Retention, and Enforcement § 24.41 Financial reporting. (a) General. (1) Except as provided in... by OMB, for: (i) Submitting financial reports to Federal agencies, or (ii) Requesting advances or...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial reporting. 135.41 Section 135.41... Enforcement § 135.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 34 Education 1 2010-07-01 2010-07-01 false Financial reporting. 80.41 Section 80.41 Education... Enforcement § 80.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Financial reporting. 74.52 Section 74.52 Public..., AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Reports and Records § 74.52 Financial reporting. (a) The following forms are used for obtaining financial information from recipients: (1) SF-269 or...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Financial reporting. 1183.41 Section 1183.41... Enforcement § 1183.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a)(2) and (5) of...) Submitting financial reports to Federal agencies, or (ii) Requesting advances or reimbursements when letters...
... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Financial reporting. 70.52 Section 70.52...-PROFIT ORGANIZATIONS Post-Award Requirements Reports and Records § 70.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial...
The mandatory adoption of International Financial Reporting Standard (IFRS) has come with a number of challenges that need to be studied so that solutions from other countries will not be imported into our country. The decision to adopt IFRS is observed to have some weaknesses, as such, implementation of policy results ...
Controls Over Army Real Property Financial Reporting Report No. D-2008-072 March 28, 2008 Report Documentation Page Form...COVERED 00-00-2008 to 00-00-2008 4. TITLE AND SUBTITLE Controls Over Army Real Property Financial Reporting 5a. CONTRACT NUMBER 5b. GRANT NUMBER...DIRECTOR, DEFENSE FINANCE AND ACCOUNTING SERVICE SUBJECT: Report on Controls Over Army Real Property Financial Reporting ( Report No. D-2008-072
Full Text Available This paper assessed factors that influence the internal controls in ensuring good corporate governance in financial institutions in developing economies with special reference to Zimbabwe. The research paper assessed how lack of internal controls affected good corporate governance and aimed to bring out elements of good corporate governance. It emerged that failure to effectively implement internal controls contributed significantly to poor corporate governance. The study discovered that internal control system overrides and the issue of “fact cat” directors also contributed to poor corporate governance. The study recommended that there is need for the board of directors to guarantee an organizational structure that clearly defines management responsibilities, authority and reporting relationships. There is also need to ensure that delegated responsibilities are effectively carried out to ensure compliance with internal controls of the financial institution concerned.
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
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial reporting. 3016.41 Section 3016.41 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER... Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of this section...
... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Financial reporting. 12.952 Section 12.952... Requirements § 12.952 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A...
... 10 Energy 4 2010-01-01 2010-01-01 false Financial reporting. 600.152 Section 600.152 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS FINANCIAL ASSISTANCE RULES Uniform Administrative... Nonprofit Organizations Post-Award Requirements § 600.152 Financial reporting. (a) The following forms or...
... 10 Energy 4 2010-01-01 2010-01-01 false Financial reporting. 600.241 Section 600.241 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS FINANCIAL ASSISTANCE RULES Uniform Administrative....241 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of this...
... 45 Public Welfare 4 2010-10-01 2010-10-01 false Financial reporting. 2543.52 Section 2543.52... ORGANIZATIONS Post-Award Requirements Property Standards § 2543.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from...
... 34 Education 1 2010-07-01 2010-07-01 false Financial reporting. 74.52 Section 74.52 Education... and Records § 74.52 Financial reporting. (a) The following forms or other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial reporting. 3019.52 Section 3019.52 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER... Records § 3019.52 Financial reporting. (a) The following forms or such other forms as may be approved by...
... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Financial reporting. 13.41... Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of this section... supplementary or other forms as may from time to time be authorized by OMB, for: (i) Submitting financial...
The purpose of this paper is to develop a conceptual framework for the evolution offinancial reporting on capital market. Due to the worlwide changes, the role of financial reportingin capital market is constantly growing. Financial reporting analyzed through market perspective isstrongly correlated with issues like: capital allocation, financial statements, internationalaccounting standards and informational valences. Capital market research emphasizes the need forqualitative and transparent...
The Department of Defense (DoD) Fiscal Year (FY) 2008 Agency Financial Report (AFR) provides the President, Congress, other federal departments and agencies, and the American public an overview of the Department's financial condition...
This document provides financial data on the CEA for the year 2007. The management report (budget, resources, expenditures) and the accounting are detailed. The main management events of the year 2007 are presented. (A.L.B.)
Full Text Available The development of XBRL (eXtensible Business Reporting Language for financial reporting has significantly changed the way which financial statements are presented to differentusers and implicitly the quantity and quality of information provided through such a modern format. Following a standard structure, but adaptable to the regulations from different countriesor regions of the world, we can communicate and process financial accounting information more efficient and effective. This paper tries to clarify the manner of preparation and presentation ofthe financial statements if using XBRL as reporting tool.Keywords: XML, XBRL, financial reporting, specification, taxonomy, instance
Office 2004 Test Drive User
Jun 30, 2015 ... Management has implemented internal controls that aim to keep condensed quarterly financial statements free from material misstatements. Management is also responsible for ensuring that all other information in the condensed quarterly financial report for the period ending 30 June 2015 is consistent, ...
Christensen, J.M. (UNEP Collaboration Center on Energy and Environment (DK)); Geertsen, U. (Danish Association for International Cooperation (DK))
With the build-up of greenhouse gases and their potential impacts on the global climate, energy-environment problems have moved from being only of local or regional interest to being a matter of global concern. In order to adress these new challenges there is a clear need for increased and targeted international collaboration in the form of intergovernmental agreements on joint action and establishment or strengthening of international institutions to monitor these agreements and assist in their implementation. In addition, individual countries, both industrialized and developing, will have to strengthen their own institutional capacities to assess and adress energy and environment problems. In this respect bilateral cooperation both North-South and South-South should be encouraged and directed toward solving both local and global environmental problems. Finally, there is a need to encourage the involvement of non-governmental organizations (NGOs) in both national planning efforts and in the implementation of project activities. Especially NGOs in developing countries need to be supported in obtaining this capacity through local networking and collaboration activities with the support of NGOs in the industrialized countries. (author).
Andrei R. CRIŞAN
Full Text Available Governments in general provide two main types of financial information: Government Finance Statistics (GFS, used for macroeconomic analysis and General Purpose Financial Reports (GPFR, more or less according with International Public Sector Accounting Standards, used for making decisions in the public sector entities. The aim of this paper is to make a comparison between GFS and GPFR to extract the similarities and differences between them. The documents of GFS and GPFS will be compared row by row, relieving the common and the different components. Our proposal is to create a unique informational system which generates both GFS and GPFS. This system could bring significant benefits such as saving time or reducing costs.
Rolf H. Weber
In recent decades, financial markets have become increasingly international in scope, while the focus of financial regulation and supervision has largely remained limited to the domain of national jurisdictions. This article applies the doctrine of multilayered governance to financial markets, thereby addressing the discrepancy between international financial activities and nationally oriented financial regulation and supervision. It identifies core values that are widely shared within the in...
PREPARING FINANCIAL REPORTS FOR MARINE CORPS APPROPRIATIONS Report No. D-2001-097 April 12, 2001...to) ("DD MON YYYY") Title and Subtitle Preparing Financial Reports for Marine Corps Appropriations Contract or Grant Number Program Element...Act of 1990, as amended by the Federal Financial Management Act of 1994. This is the third report on our audit of the FY 2000 Department of the Navy
AD-A241 759 NAVAL POSTGRADUATE SCHOOL Monterey, California D TIC THESIS INTEGRATED FINANCIAL REPORTING FOR A SMALL BUSINESS by Bradford Laurence...ELEMENT NO. NO. NO. ACCESSION NO. 11. TITLE (Include Security Class(wcatwon) Integrated Financial Reporting for a Small Business (UNCLAS) 12. PERSONAL...GROUP SUB(OUP Financial reporting , Decision support systems, Spreadsheets 19. ABSTRACT (Continue on reverse 4f necessary and identif by block number
Full Text Available the article explores the definition of financial monitoring, financial analysis and internal control in aspect to their correlation to fight money laundering and terrorism financing. Internal control is analyzed from the point of view of law, economics and management. The author pays much attention in the article to the work of systems of financial monitoring in organizations.
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
... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Financial reporting. 1260.152 Section 1260... Higher Education, Hospitals, and Other Non-Profit Organizations Reports and Records § 1260.152 Financial reporting. (a) When funds are advanced to recipients, each recipient is required to submit the SF 272...
... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Financial reporting. 12.81 Section 12.81... Agreements to State and Local Governments Reports, Records Retention, and Enforcement § 12.81 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of this section, grantees will...
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Financial reporting. 30.52 Section 30..., HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Reports and Records § 30.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for...
... 29 Labor 1 2010-07-01 2010-07-01 true Financial reporting. 97.41 Section 97.41 Labor Office of the... LOCAL GOVERNMENTS Post-Award Requirements Reports, Records Retention, and Enforcement § 97.41 Financial reporting. (a) General. (1) Except as provided in paragraphs (a)(2) and (5) of this section, grantees will...
... 32 National Defense 1 2010-07-01 2010-07-01 false Financial reporting. 32.52 Section 32.52..., HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Reports and Records § 32.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for...
... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial reporting. 49..., HOSPITALS, AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Reports and Records § 49.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for...
During last 30 years financial reporting faced the shifting of the measurement bases from traditional concept of historical costs towards fair value concept. Numerous critics stress their attention on the problem of fair value measurement as one of the major factors of current crisis. This paper summarizes pros and cons or this reporting base.
AD-AO83 797 ANDERSEN (ARTHUR) AND CO WASHINGTON DC F/G 5/1 FINANCIAL ACCOUNTING AND REPORTING IMPROVEMENT CONCEPTS(U) FEB 80 NOOIIN 79-C-0872...CATALOG NUMBER NR 367-008 IP T3j 27I4. TITLE rad SublŜ) rVRO OEE BEFOE COPLRICG COVR n -e t.* Financial Accounting and Reporting 2 79-29 Feb: C...side if neceesar and idenhif&y by, Wek nembet) Financial accounting and reporting ; compliance with GAO/OSD re- , "quirements; financial information
Erick R Outa
Full Text Available The purpose of this paper is to examine the requirements and successes of the New International Financial Architecture (NIFA on transparency and corporate governance from a global perspective with a special focus on Africa. In recent years, transparency, accountability and governance have become key topics with many countries around the world having adopted International Financial Reporting Standards (IFRS and corporate governance codes. The outcomes of these initiatives have been unconvincing. Desktop research was used to gather literature and data on compliance with corporate governance codes and International Financial Reporting Standards (IFRS and other NIFA requirements. This study established that in spite of many regional and global initiatives by the World Bank and relevant regulators, compliance with IFRS and governance in parts of Africa has yet to reach its best level and guidelines are not fully followed leading to opportunities for improvement and policy adjustments. This research has implications and uses for both global and local institutions and regulators concerned with economic stability and growth including the World Bank, central banks, capital markets and boards of companies and the government in general. The findings contribute to governance debates by providing additional perspectives from Africa on compliance with accounting standards and codes in a region where research and corporate governance and reporting issues are still confusing.
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.
Fizza Tassadaq; Qaisar Ali Malik
This paper empirically and critically investigates the issue of creative accounting in financial reporting. It not only analyzes the ethical responsibility of creative accounting but also focuses on other factors which influence the financial reporting like role of auditors, role of government regulations or international standards, impact of manipulative behaviors and impact of ethical values of an individual. Data has been collected through structured questionnaire from industrial sector. D...
Tassadaq, Fizza; Malik, Qaisar Ali
This paper empirically and critically investigates the issue of creative accounting in financial reporting. It not only analyzes the ethical responsibility of creative accounting but also focuses on other factors which influence the financial reporting like role of auditors, role of govt. regulations or international standards, impact of manipulative behaviors and impact of ethical values of an individual. Data has been collected through structured questionnaire from industrial sector. Descri...
The conceptual framework of International Financial Reporting Standards determines the basic principles of accounting. The said principles have multiple applications, with professional judgments being one of those. Recognition and assessment of the information contained in financial reporting, especially so the somewhat uncertain events and transactions and/or the ones regarding which there is no standard or interpretation are based on professional judgments. Professional judgments aim at the...
We study the effects of financial structure and financial development on banking fragility. We develop our study by using fixed-effects panel-data regressions and by controlling the effects of certain banking indicators. We use individual and principal-components indicators of the activity, size and efficiency of intermediaries and markets. The indicators include data for 211 countries between 1990 and 2003. Our main findings suggest that banking stability is enhanced in market-based financia...
Chamberlain, R. G.
The objective of this Services Finance Report program is to provide a means for comparing alternative designs of LMSS systems or other services systems. This program is actually a Multiplan worksheet. The labels used in the worksheet were chosen for a satellite-based cellular communication service (LMSS - Land Mobile Satellite System) but the analysis is not restricted to such cases. A comprehensive financial model is used to calculate a 'figure of merit' which can be used to compare effects of equipment and operating costs, pricing strategy, and customer demand for different systems. The program also calculates the price that a company would have to charge customers to meet all its expenses and make a specified profit. A price estimate can be obtained for almost any service which is heavily dependent on capital investment and which has operating costs that depend on the amount of service sold. The economic analysis has two main components: supplier finances and customer finances. Supplier finances include amortization, interest, insurance, taxes, and operating and maintenance expenses. Customer finances include usage rate, subscription fees, equipment costs, and estimated traffic. Prices can defined as real or nominal to account for effects of escalation and inflation, and the profits can be regulated or unrestricted This program is written for interactive execution with Multiplan (version 1.2) and has been implemented on an IBM PC series computer operating under DOS (version 2.11). The LMSS worksheet has a space requirement of approximately 38K of 8 bit bytes. This worksheet was developed in 1984.
The present paperwork contains issues regarding financial reporting at the public institutions and non – financial entities. The main aspects are regarding the obligation of all entities to present the financial statements, the content of financial statements in public institutions and non-financial entities. Also, is presented the similarities and the differences aspects between financial reporting of these two patrimonial entities.
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.
The Manager is a key resource whose main function is to support the financial operations of the IDRC, the integrity of financial information as well as appropriate ... discussions and decisions on financial and administration issues, priorities, systems, processes, performance indicators, human resources and budgets.
Job Summary The Financial Systems Information Officer provides end-user training in Ottawa and regional offices on the main financial information systems, which include Oracle Financials (Purchasing, Accounts Payable, Cash Management, General Ledger and Fixed Assets) and the expense management systems.
The increasing complexity of financial reporting requirements, especially accounting standards, leads many countries to consider moving to simpler reporting requirements for small and medium enterprises (SMEs) in order to reduce reporting burdens. In response to such concern, the International Accounting Standards Board (IASB) also released the IFRS for SMEs, an international accounting standard intended for SMEs worldwide. In Thailand, SMEs are required by law to prepare and publish general ...
BELENESI (BUMBA MARIOARA
Full Text Available In a highly competitive economy, driven by globalization, the abundance of digital information and communication facilities, the investor directs its capital to those companies that promise added value of the invested capital. Even so, companies seek to obtain favorable terms of financing by rendering sensitive the investors. To achieve their goal, they must provide information about their financial and non financial performance with sufficient regularity to meet the information needs of actual or potential capital bidders in decision making. Financial communication through standardized annual statements of financial reporting in the context of corporate governance is no longer sufficient. The organization has more resources than those included in its balance sheet, capable of attracting huge benefits, but which do not meet the criteria for recognition in the financial statements. It requires, therefore, a voluntary disclosure of information on intangible resources, which are key factors in creating future value for both the organization itself and the industry it is part of. The reports of intellectual capital can effectively complement the shortcomings of the traditional model of accounting and financial reporting. In our paper we wanted to analyze financial communication in the context of corporate governance, presented through financial statements, reaching the intellectual capital reporting practices, as a means to improve communication of the organization with the outside. In this sense we presented two examples of good practice of two service companies (consultancy and design that publish annually intellectual capital reports. To alleviate the negative consequences of non-recognition of intangible assets in the financial statements, we are for the voluntary disclosure of information on intangible assets in the intellectual capital reports, annual reports, those regarding corporate responsibility, or at least in the explanatory notes of
Cecilia (DAMOC NICA
Full Text Available The study identifies the impact of the internal and external control of the quality of financial reporting, considering the professional accountants’ opinions, evaluating the extent to which financial and non-financial information presented annually by companies represent a guarantee of compliance with the ethical principles of professionals, and also a transparency presentation of the economic activity, risk management, at the same time protecting the interests of stakeholders in the company. The quantitative analysis performed is based on a questionnaire applied to the professional accountants being conducted on a sample of companies in Romania, in various sectors and presents a comparative study of the importance of each type of internal and external control in the delivery of financial reports and non- annual companies, real and credible.
.... The first report includes our disclaimer of opinion on the FY 1999 financial statements and discusses the adequacy of internal controls and compliance with laws and regulations for the financial statements...
Report #17-F-0315, July 10, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the PRIA Fund accurately reflect the agency’s financial activities and balances.
Report #17-F-0314, July 10, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the FIFRA Fund accurately reflect the agency’s financial activities and balances.
Report #17-F-0365, August 14, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the PRIA Fund accurately reflect the agency’s financial activities and balances.
Report #17-F-0364, August 14, 2017. Due to the material weakness in internal controls noted, the agency cannot provide reasonable assurance that financial data provided for the FIFRA Fund accurately reflect the agency’s financial activities and balances.
Report #16-F-0322, September 22, 2016. Due to the material weakness in internal controls noted, EPA cannot provide reasonable assurance that financial data provided for the FIFRA Fund accurately reflect the agency’s financial activities and balances.
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 ...
... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Financial reports. 223.8 Section 223.8 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS WITH THE UNITED...
Technology Teacher, 2004
The figures in this report reflect the financial year, which ended on June 30, 2003. The balance shown is the result of specifically planned activities on behalf of the Board of Directors and the headquarters staff to balance the budget. The Board monitors the financial condition of the association and foundation on an ongoing basis through its…
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 This article aims to analyse the extent to which international accounting standards is applied and whether it is the ultimate goal. Up until the end of 2016, approximately there are 84% of the 149 jurisdictions analysed which require IFRS for all or most domestic publicly accountable entities. This may indicate that we are not that much further from having a single set of globally-accepted accounting standards. However, there is more to financial reporting than just accounting standards alone, such as the political aspect of accounting standard-setting, translation issues surrounding IFRS adoption, the US position and the complexity of financial reporting. Improving financial reporting quality needs more than just having global accounting standards, rather, it is also essential to consider the preparers’ incentives and other institutions surrounding the firm. Stakeholders need to broaden the perspective when viewing financial reporting, so that it will not be focused merely on accounting standards alone.
Full Text Available This paper analyzes the importance of building financial statements and their compliance with the activities by running an entity, primarily for micro units. Main objective of this paper is to present the necessity of the implementation of legal frameworks in the field of accounting and the application of accounting standards for financial reporting. National Accounting Standards are significant factors to increase the quality of financial information, bringing new technologies, increased competition and culture of service etc. National Accounting Standards help in the sustainable economic development of the country and integration into the EU. This paper analyzes a series of articles in the field of research in the field of accounting. This paper presents the theoretical and practical aspects of a company’s long-term assets, treating the amortization calculated according to accounting standards. An important point is the appearance of these items in the balance sheet. According to the empirical viewpoint, various studies give different results. Also, the entities as a primary source of economic development are part of this paper. The application of accounting standards began in Albania on 1 January 2009. From these date all the units are obliged to draw up financial statements according to national and international standards of accounting. Actually nowadays (starting from the fiscal year 2014 the submission of balance sheet is made electronically.
This financial report contains the unaudited condensed financial statements of Gaz de France Group for the first half ended June 30, 2007, which were reviewed by the audit committee on August 27, 2007 and by the board of directors at its meeting on August 28, 2007. It includes forward-looking statements concerning the objectives, strategies, financial position, future operating results and the operations of Gaz de France Group. These statements reflect the Group's current perception of its activities and the markets in which it operates, as well as various estimates and assumptions considered to be reasonable. Content: interim management report (highlights of the first half of 2007, revenues and results for the period, financial structure, data on outstanding stock, outlook); interim consolidated financial statements (consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows, recognized income and expenses, statements of changes in shareholders' equity, note to the consolidated financial statements); statement by the person responsible for the interim financial report; statutory auditors' report. (J.S.)
Harmer, W G
Government-owned organizations are accountable to citizens and their elected representatives. These organizations must provide financial information that will help in determining whether they are effectively pursuing their primary goal, which is to promote the general welfare. Regardless of the kind of service provided by a government-owned organization, the information needs of citizens and their elected representatives must be considered when developing accounting rules. If these needs are ignored or compromised in favor of the needs of other users, such as investors or creditors (the primary users of business financial reports), then financial reporting by government-owned organizations will not meet its objectives.
Full Text Available This paper presents the importance of the financial audit, the necessity of improving the organizational framework and of achieving the financial audit missions, respectively extent to which the financial statements of the Romanian economic entities meet the international and European requirements in the field. This paper presents the influence that financial audit seems to have in a long period of time upon the financial reporting in certain economic environments. A questionnaire based on four questions has been used, its outcomes being analyzed and its conclusions laid at the foundation of our entire scientific research. The research was based on the information gathered from financial auditors - natural and legal persons - and from economic entities that are obliged or not to audit their financial statements concerning the way a financial audit mission is developing, with respect to the European and international requirements and the International Financial Audit Standards implementation in Romania. The paper ends up with authors’ conclusions concerning the challenges the business environment is confronted to, these being directly reflected in the efforts the financial auditors must do in order to assess the impact on the financial statements and on the financial performance of an economic entity submitted to audit.
Full Text Available An environment for the activities of the International Monetary Fund (the IMF has fundamentally changed over the two recent decades. The strong development of financial innovations as well as of financial globalisation was among major forces driving the change and shaping the economic growth worldwide. As some economies were able - with the support from financial markets – to accelerate their growth, other countries suffered from turbulences, which were reinforced and transferred internationally through the volatile financial markets. The process of international financial contagion makes the case for global financial governance, which so far has been left behind the development of markets. The IMF is mandated to play a central role in the global governance designed to ensure financial stability. The article reconsiders the Fund’s role and includes an overview and assessment of its activities, particularly in the context of the global financial crisis in 2007-2010. In the aftermath of this crisis, the international financial stability may, however, again be at risk as several external imbalances in the global economy may be hardly sustainable. It is argued in the paper that, in addition to a gradually improving surveillance and lending as well as to adjusting resources by the Fund, an enhanced credibility of the institution is needed so that its role in the process of the stabilising global financial system is strong and effective.
.... 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...
This study sets out from the contemporary discussion on the need of separate financial reporting standards for small and medium-sized enterprises (SMEs), and focuses on financial reporting information needs in the context of entrepreneurial and growth-oriented SMEs. The main purpose of the study is to sort out areas of financial reporting information that are likely to be of significance tomanagers of entrepreneurial SMEs in their provision of information to users. In order to fulfill this pu...
The development of management control financial reporting systems for airport operation is discussed. The operation of the system to provide the reports required for determining the specific revenue producing facilities of airports is described. The organization of the cost reporting centers to show the types of information provided by the system is analyzed.
This paper analyses the effects of stricter financial reporting enforcement on capital allocation and reporting quality in a game-theoretic model and derives conclusions about optimal enforcement strictness. Analysis of the model shows that reporting quality strictly increases with tighter
... RELATED ACTIVITIES UNIFORM FINANCIAL REPORTING REQUIREMENTS Income Statement § 232.6 Financial report... facsimile and Internet) for transmission of required information to MARAD, if practicable. (b) Certification...
This paper investigates the tension between regulation and financial education in explaining one of the major puzzles in international finance, that is the lack of international diversification. We show that both dimensions are relevant: higher investor’s financial education fosters international investment and stronger minority investor protection legislation attracts inward investment. More interestingly, these factors appear to be substitute in enhancing investor’s portfolio diversificatio...
Full Text Available In the recent years more studies focus on the corporate disclosure, the determinants and consequences of disclosure. The mandatory disclosure of financial information was frequently integrated with non-financial information, often voluntary disclosed. The voluntary dimension of corporate disclosure involves the manifestation of free choice of the firm and its managers. In our paper we focus on the principal reporting demands that are not covered by traditional financial statements, voluntary disclosure, and how Romanian companies interested in the issue have been incorporating information about these aspects in their reporting. We also highlight the usefulness and the importance level which managers and stakeholders are giving to appreciate the non-financial performance of the Romanian listed companies they are manage or they are interested in.
Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)
Nazarenko Inna М.
Full Text Available The publication is aimed to provide scientific substantiation for the organizational-methodical aspects and the algorithmization of the financial audit process of the «Balance (financial status report». It has been proven that financial auditing through transformation has expanded the functional role of auditing. The author emphasizes that the financial audit of the «Balance (financial status report» should be directed to confirming the validity and consistency of showings in this form of financial reporting with the requirements of Ukrainian legislation, the internal regulations of the economic entities, and the expert assessment of the financial state. Financial auditing is also designed to diagnose solvency (financial sustainability, liquidity and business activity; to assess the threats of bankruptcy; to determine the worthiness and value of entrepreneur. An algorithm for financial auditing of the «Balance (financial status report» of enterprise has been developed, with organizational, research, and performance phases as constituent parts.
Muda, Iskandar; Haris Harahap, Abdul; Erlina; Ginting, Syafruddin; Maksum, Azhar; Abubakar, Erwin
The purpose of this research is to find out whether the Accounting Information System and Internal Control in Local Revenue Office to the affect the Quality of Financial Report of Local Government. The sampling was conducted by using simple random sampling method in which the sample was determined without considering strata. The data research was conducted by distributing the questionnaires. The results showed that the degree of Accounting Information System and Internal Control simultaneously affect the Quality of Financial Report of Local Government. However, partially, Partially, accounting information system influence to the quality of financial report of local government and the internal control does not affect the quality of financial report.
...). See, e.g., Motor Carrier Financial Information Reporting Requirements-Request for Public Comments, 68...] Registration and Financial Security Requirements for Freight Forwarders; International Association of Movers... FURTHER INFORMATION CONTACT: Mr. Thomas Yager, Chief of Driver and Carrier Operations, (202) 366-4001 or...
Colorado Commission on Higher Education, Denver.
This report summarizes Colorado student aid program expenditures for 1994-95. It briefly describes the following program types: need-based grants, merit-based grants, Colorado work-study, diversity grants, required federal matches, Colorado nursing scholarships, and categorical programs. Highlights of the report reveal the following: state…
Steven B. Kamin
The paper surveys a broad array of data to compare the scope and impact of three emerging-market financial crises: the debt crisis of the 1980s, the Mexican financial crisis of 1994-95, and the current international financial crisis. While certain conventional views regarding the three episodes are supported by the data examined in this paper, we find that in several respects, the current crisis is more similar to prior emerging-market crisis episodes than is commonly believed.
Taiji Furusawa; Taiji Furusawa, Noriyuki Yanagawa
We construct a simple two-country model that enables us to examine the interactions between trade in goods and international capital movement under financial imperfection. We show that they are complements in the sense that trade in goods facilitates capital outflow from the South, which is either financially less-developed or endowed less capital than the North. This complementarity disappears if financial institution is perfect or almost perfect; trade in goods and capital movement are subs...
Full Text Available The theoretical, methodological and practical aspects of changes in financial reporting and source documents specific to Ukrainian enterprises in the new conditions resulting from the application of International Financial Reporting Standards have been analyzed. Also, a conceptual approach of defining the patterns of changes in financial reporting and elements of accounting method has been proposed. The issue of internal quality control of analytical accounting information at various stages of its formation has been researched.
... the Financial Reporting Series Entitled ``Uncertainty in Financial Statements: How Much To Recognize.... SUPPLEMENTARY INFORMATION: This will be the inaugural roundtable of the Financial Reporting Series. The Financial Reporting Series was instituted by SEC staff to assist in the proactive identification of risks...
..., and Reports Involving Common Carriers Financial and Accounting Reports and Requests § 1.785 Annual financial reports. (a) An annual financial report shall be filed by telephone carriers and affiliates as... 47 Telecommunication 1 2010-10-01 2010-10-01 false Annual financial reports. 1.785 Section 1.785...
Sandra Raquel Pinto Alves
Full Text Available In the last decade, the advances in communication and information technologies dramaticallychanged the information flow and our notions of time and space. The Internet has been changingthe information policy of companies world-wide. Basically in all developed countries,companies are increasingly using the Internet to provide their financial information. Thisresearch presents an empirical study aiming to analyze the organization and informationprovided on the financial report of the 250 most profitable companies in Portugal, particularlytheir financial statements published on the Internet. After the observation and in-depth analysisof the websites of the above-mentioned companies, for the year 2002, it was concluded that 119companies (48% had a webpage on the internet. In what concerns the disclosure of financialinformation, only 51 (43% out of the 119 companies had some kind of financial informationstated on their websites.
Contrary to the national financial reporting standards the International Financial Reporting Standards (IFRSS) have a unique international character. The paper starts with a description of the historical development of the IFRSS followed by a list of the most important institutions linked to IFRSS such as the International Accounting Committee Foundation (IASC Foundation), International Accounting Standards Board (IASB) and International Financial Reporting Interpretations Committee (IFRIC). ...
This semestral financial report contains statements on the objectives, prospects and growth opportunities for the AREVA group. After a presentation of the person responsible for this report, the document presents significant events, summary data (financial indicators and their definitions), a summary of data by division, the backlog, the income statement (revenue, gross margin, research and development, and so on), the cash flow assessment, the balance sheet items, a review of the business groups (mining and front end, reactors and services, back end, renewable energies, corporate and other). This document contains its English version and its French version
Job Summary. Under the direction of the Chief, Treasury Operations, you will be responsible for analysis and working papers for ccash and cash equivalents, ensuring sufficient liquidity for head and regional offices and cash flow planning. You will prepare payments and related clearing in the financial system, clearing ...
Profession: Oversight, Auditor Independence, and Financial Reporting Issues Dear Mr. Chairman: This letter responds to your recent request that we provide...selected financial reporting matters. The sudden and largely unexpected bankruptcy of the Enron Corporation (Enron) and other large corporations... financial reporting restatements have raised questions about the soundness of the current self-regulatory and financial reporting systems and resulted in
... STANDARDS LABOR ORGANIZATION ANNUAL FINANCIAL REPORTS § 403.5 Terminal financial report. (a) Any labor... labor organization a terminal financial report with the Office of Labor-Management Standards, on Form LM... 29 Labor 2 2010-07-01 2010-07-01 false Terminal financial report. 403.5 Section 403.5 Labor...
.... The accuracy of information in the financial systems and reported on financial statements is the joint responsibility of the Defense Automated Printing Service and the Defense Logistics Agency...
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.
Clark, Kari; Bang, Derek A
Implementing a standardized financial reporting and revenue cycle monitoring platform can help healthcare organizations improve their net revenue reporting and budgeting processes. Consistent, standardized data help the finance office estimate accounts receivable reserves more accurately, streamline the month-end closing process, and strengthen internal controls. The benefits of standardizing the finance and revenue cycle functions are particularly significant in large organizations with multiple facilities, but even single-facility providers can benefit from improved communication between the business office and finance.
FINANCIAL REPORTING FOR OTHER DEFENSE ORGANIZATIONS AT THE DEFENSE AGENCY FINANCIAL SERVICES ACCOUNTING OFFICE Report No. D-2001-048...34) 09Feb2001 Report Type N/A Dates Covered (from... to) ("DD MON YYYY") Title and Subtitle Financial Reporting for Other Defense Organizations at the Defense...Supplementary Notes Abstract This report is the first in this series addressing the underlying financial reporting processes that cause abnormal balances
DEFICIENCIES IN FY 1998 DOD FINANCIAL STATEMENTS AND PROGRESS TOWARD IMPROVED FINANCIAL REPORTING Report No. D-2000-041 November 26, 1999 Office...UNDER SECRETARY OF DEFENSE (COMPTROLLER) SUBJECT: Audit Report on Deficiencies in FY 1998 DoD Financial Statements and Progress Toward Improved... Financial Reporting ( Report No. D-2000-041) We are providing this audit report for information and use. It identifies and summarizes the major
Renáta Myšková; Petr Hájek
Indicators of financial performance, especially financial ratio analysis, have become important financial decision-support information used by firm management and other stakeholders to assess financial stability and growth potential. However, additional information may be hidden in management communication. The article deals with the analysis of the annual reports of U.S. firms from both points of view, a financial one based on a set of financial ratios, and a linguistic one based on the anal...
This dissertation contains three essays on financial reporting, tax, and politics. The first essay explores whether the tax authority is able to generate spillover effects for auditors. The IRS can generate spillover effects for auditors, as a strong IRS increases manager’s incentives to comply with
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Audits and financial reporting. 98.65 Section 98... DEVELOPMENT FUND Financial Management § 98.65 Audits and financial reporting. (a) Each Lead Agency shall have... independent standards. (g) The Secretary shall require financial reports as necessary. ...
Ontario Hydro International Inc. is the international representative of Ontario Hydro. OHII operates as a global utility that markets Ontario Hydro's services and products. Its mission is to be the leader in energy efficiency and sustainable development in the international marketplace. This report describes the year's activities in the following areas: Energy management and environment, hydroelectric generation, nuclear products and services, fossil generation, grid (transmission) business, utility management, Asia Power Group Inc. The document also includes financial highlights and international and customer contracts
María del Carmen CABA PEREZ
Full Text Available The disclosure of financial documents can be extremely significant for improving information transparency as part of the management of financial resources to render public sector services. Therefore, this research focuses on the role played by new technologies in this respect, particularly in promoting the transparency of financial information documents and on the key determinants to make financial documents available on the World Wide Web. To achieve this aim, an empirical test is made of models we propose, to discover whether the national websites of OCDE countries are using the Internet to provide citizens with governmental budgetary transparency and whether this disclosure is influenced by socio-economic factors. The results of the study confirm that factors previously found to be important in paper-based reporting, such as education level, population, internet access or fiscal pressure seem to have no influence on the public financial information disclosed on the Internet. Only debt seems to be a relevant factor in the degree of information transparency achieved via the Internet for accountability documents.
Full Text Available The objective of this paper is to investigate through content analysis of the notes to the financial statements for the years 2006 to 2011, and by the application of an econometric model, if there were changes in the criteria for recognition and measurement Estimated Loss on Loan Losses (PECLD from the implementation of the Technical Statement 38 emitted by Accounting Pronouncements Committee. According to this pronouncement, the expected future losses that have not yet occurred, should no longer be recognized through estimates, i.e., it is necessary that the event has actually occurred in order to be registered the loss. This standard provides for the Brazilian business context a new form of recognition and measurement of PECLD, which became to be based on losses actually incurred, different from the practice previously adopted, which consisted of accounting based on expected losses. The study population are all active companies listed on the BM&FBOVESPA. On another way, the sample is in a non-probabilistic choice, being selected for the study the active companies classified in the sector of commerce Economática ®, totaling 19 companies to be studied. The results obtained show that after the adoption of CPC 38 the criteria for recognition of PECLD was not, in its entirety, based on the method from CPC, ie, losses incurred. Perceives a reduced level of compliance of the accounting practices adopted in relation to the norm. With the convergence process and the adherence of Brazilian companies to international standards, the expectation was that companies use losses incurred as the basis for recognition of PECLD.
Emine Çına Bal
Full Text Available According to IAS 39, financial assets are classified into four classes. This quadruple classification for financial assets in IAS 39 has reduced into the groups as valued at fair value in the form of financial assets valued at amortized cost by IFRS 9. At the implementing example of this study, stock held for trading is taken, and how to take into account the positive and negative differences in fair value using profit and loss accounts are shown. Another implementing example of our study is related to an investment in an equity investment that is not held for trading purposes. Changes will be occur later in the fair value of these financial assets are presented, as mentioned in the standard, in other comprehensive income subsequent. At the example related to purchase of bonds in the implementation part of the study, first the cost of bond at the date of purchase (purchase price + commission expenses, etc., cash flows will be obtained in the future from this bond (interest and principal payments equalizing discount rate (internal rate of return is calculated. Accordingly, an amortized cost table that shows interest income of each period, cash flows sourced from obtained interests and the cost bond at he and of each year is created. According to this table, accounting records considering each year-end valuation of the bond is shown.
MacPhail, Scott; McGray, Robert
Conditionalities are most broadly defined as the provisos that are to be met by a country when borrowing money from the International Financial Institutions (IFIs). Increasingly, they have proven to have far reaching consequences for countries entering into agreements with The World Bank, the International Monetary Fund, and the World Trade…
International risk-sharing is one of the most important benefits from the process of international financial integration, which gained in speed, scope, and geographical coverage during the past decades. As long as different national economies are not perfectly correlated, there are possibilities for
Flavio Vilela Vieira
Full Text Available The paper investigates the recent financial crisis within a historical and comparative perspective having in mind that it is ultimately a confidence crisis, initially associated to a chain of high risk loans and financial innovations that spread thorough the international system culminating with impressive wealth losses. The financial market will eventually recover from the crisis but the outcome should be followed by a different and more disciplined set of international institutions. There will be a change on how we perceive the widespread liberal argument that the market is always efficient, or at least, more efficient than any State intervention, overcoming the false perception that the State is in opposition to the market. A deep financial crisis brings out a period of wealth losses and an adjustment process characterized by price corrections (commodities and equity price deflation and real effects (recession and lower employment, and a period of turbulences and end of illusions is in place.
As the world's biggest electricity generator, the EDF Group covers every sector of expertise, from generation to trading and transmission grids. EDF builds on the expertise of its people, its R and D and engineering skills, its experience as a leading industry operator and the attentive support of its customers to deliver competitive solutions that successfully reconcile economic growth with climate protection. This document presents the 2007 annual results and Consolidated financial statements of the Group at 31 December 2007: Consolidated income statements; Consolidated balance sheets; Consolidated cash flow statements; Changes in consolidated equity; Notes to the consolidated financial statements: Group accounting standards; Summary of the principal accounting and valuation methods; Public electricity distribution concessions in France and concession agreements for other activities; Comparability; Significant events and transactions of 2007 and 2006; Changes in the scope of consolidation; Segment reporting; Sales; Fuel and energy purchases; Other external expenses; Contractual obligations and commitments; Personnel expenses; Other operating income and expenses; Impairments / reversals; Other operating income and expenses; Financial result; Income taxes; Goodwill; Other intangible assets; Property, plant and equipment operated under French public electricity distribution concessions; Property, plant and equipment operated under concessions for other activities; Property, plant and equipment used in generation and other tangible assets owned by the Group; Investments in companies accounted for under the equity method; Current and non-current financial assets; Inventories, including work-in-process; Trade receivables; Other receivables; Cash and cash equivalents; Held-for-sale assets and liabilities; Equity; Provisions; Specific French public electricity distribution concession liabilities for existing assets and assets to be replaced; Current and non
Schuler, Matthieu; Marchal, Valerie; Albert, Marc-Gerard; Aurelle, Jacques; Bigot, Marie-Pierre; Bruna, Giovanni; Charron, Sylvie; Clavelle, Stephanie; Cousinou, Patrick; Deschamps, Patrice; Delattre, Aleth; Demeillers, Didier; Dumas, Agnes; Franquard, Dominique; Laloi, Patrick; Lorthioir, Stephane; Monti, Pascale; Rollinger, Francois; Rouyer, Veronique; Rutschkovsky, Nathalie; Scott De Martinville, Edouard; Tharaud, Christine; Verpeaux, Jean-Luc; Jaunet, Camille; Hedouin, Jean-Christophe; Pascal-Heuze, Charlotte
IRSN, a public entity with industrial and commercial activities, is placed under the joint authority of the Ministries of Defense, Environment, Industry, Research, and Health. It is the nation's public service expert in nuclear and radiation risks, and its activities cover all the related scientific and technical issues. Its areas of specialization include the environment and radiological emergency response, human radiation protection in both a medical and professional capacity, and in both normal and post-accident situations, the prevention of major accidents, nuclear reactor safety, as well as safety in nuclear plants and laboratories, transport and waste treatment, and nuclear defense and security expertise. IRSN interacts with all parties concerned by these risks (public authorities, in particular nuclear safety and security authorities, local authorities, companies, research organizations, stakeholders' associations, etc.) to contribute to public policy issues relating to nuclear safety, human and environmental protection against ionizing radiation, and the protection of nuclear materials, facilities, and transport against the risk of malicious acts. This document is the 2013 issue of IRSN's activity report. Content: 1 - Organization, key figures; 2 - Strategy: Progress and main activities in 2013, Transparency and communications policy, Promoting a safety and radiation protection culture; 3 - Activities: Safety (Safety of existing facilities, Studies and researches, About defense, Conducting assessments of future facilities); Nuclear security and non-proliferation (Nuclear security activities, International non-proliferation controls); Radiation protection - environment and human health (Environmental and population exposure, Radiation protection in the workplace, Effects of chronic exposure, Protection in health care); Emergency and post-accident situations efficiency; 4 - Efficiency: Health, safety, environmental, protection and quality, Human resources
... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Financial reporting. 105... § 105-72.602 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial...
Horváth, Roman; Poldauf, P.
Roč. 12, č. 1 (2012), s. 1-21 ISSN 1524-5861 R&D Projects: GA ČR GA402/09/0965 Institutional research plan: CEZ:AV0Z10750506 Institutional support: RVO:67985556 Keywords : stock market comovements * financial crisis * GARCH Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2012/E/horvath- international stock market comovements what happened during the financial crisis.pdf
Full Text Available As more than half a century has passed since the establishment of the international financial institutions (IMF, World Bank, this paper analyzes the opinion that these institutions have not accomplished their mission. They generally admit that they have not succeeded in the activities that they set out to accomplish, a propos of gathering funds for countries faced with economic gaps and helping them to maintain long term economic growth and development. We show that these financial institutions have done nothing to reduce poverty and financial disparities, to increase their own transparency, responsibility and management, especially with the public participation of developing countries, or to create a more effective loans system. In this paper the main goal of research is to explore the arguments pro and contra the strategic effect, policy, and working methodology of the international financial institutions in view of finding a solution to the global financial crisis and global prevalent financial problems, and also to consider the reasons for the justification or otherwise of their being part of the global financial system.
... performance) and 34 CFR 74.52 (Financial reporting); and (2) 34 CFR 80.40 (Monitoring and reporting program performance) and 34 CFR 80.41 (Financial reporting). (b) A grantee shall submit these reports annually, unless... 34 Education 1 2010-07-01 2010-07-01 false Financial and performance reports. 75.720 Section 75...
... 39 Postal Service 1 2010-07-01 2010-07-01 false Additional financial reporting. 3050.40 Section... financial reporting. (a) In general. The Postal Service shall file with the Commission: (1) Within 40 days...), beginning with the annual report for fiscal year 2010. (c) Financial reporting. The reports required by...
Full Text Available Recent technological changes have had a great impact on the accounting and financial environment. As other countries Albania has also been affected by developments such as the evolution towards using accounting information packages, financial web reporting, XBRL and cloud computing. Throughout this paper we try to analyze the current situation of accounting and financial reporting in Albania and the impact that the web reporting has had on the simplification of the accounting procedures. We present how tools such as cloud computing and XBRL have impacted the use of the accounting systems and also other reporting institutions in Albania. Describing the current development of cloud services we give information on the part of software vendors in Albania. We find that cloud computing has been used extensively not only by the private companies offering accounting infomations systems, but also by other companies in the public sector (i.e. education. On the other hand we find that XBRL, even though a promising technology, has not been gained great recognition in Albania and is currently not used by any on the institutions or companies, neither by institutions whose mission is to create extensive databases (such as the Registrar of the Companies and which might benefit the most from this technology.
NĂSTASIE MIHAELA – ANDREEA
Full Text Available General research area of this article is the annual social reports that have as main objective the good information of users of both the internal and external users of accounting information reported. In economic, financial reports along with reports of social attract itself an end, equally profitable and moral, individual and social welfare bringing. Social Balance is an instrument of human resource management information, retrospective summary that aims to satisfy the social information of employees and highlight the social resources of the economic entity and use, in order to know the case where the entity is economic profit or loss realized.
Corporate governance is a highly discussed topic in financial circles. Recent corporate failures have triggered regulatory reforms where the internal audit was given a stronger position. However, this regulatory evolution also brought challenges to internal audit activity. The growing demands and pressure from stakeholders have placed internal auditors in a difficult position of having to serve several stakeholders and sometimes inconsistent ones with different agendas. That is why the aim of...
The International Petroleum Statistics Report is a monthly publication that provides current international oil data. This report presents data on international oil production, demand, imports, exports and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). Section 2 presents an oil supply/demand balance for the world, in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries.
NICHITA Mirela; GAJEVSZKY Andra
The results of a business activity are concentrated in the financial reports; accounting is the instrument that provides these reports to internal and external users in order to help users to make useful economic decisions. At international level, the accounting is standardized by IASB (former IASC) which elaborate financial reporting standards (known as IAS / IFRS) in order to improve the quality and transparency of reporting. The changes in business environment (globalization, mergers and a...
This is done in order to provide senior management and the Finance and Audit Committee of the Board assurance regarding the quality of the information that ... other employees involved in the recording of transactions (grant administration officers), internal auditors, and external auditors (Office of the Auditor General).
Full Text Available Background and Purpose: The objective of this research was to explore the perceptions of the users regarding Internet financial reporting practices in Slovenia. With this research, we wanted to determine what the perceptions of the users are regarding the reliability, credibility, usefulness and sufficiency of online accounting information and how their expectations regarding the content of accounting information differ from the actual situation.
.... The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and program issues and provide an analytical...
Full Text Available The current developments in the business environment as well as in the accountancy profession have significantly affected the way the financial reports are prepared. This study sought to assess the factors influencing complexity of preparing financial reports in the banking sector in Kenya. The objectives included assessing whether disclosures, adoption of International financial Reporting Standard, regulations and lack of competence by the preparers have contributed to the complexity of preparing financial statements. Using a descriptive study design, data was collected from ten banks registered in the Nairobi Capital Market. The study found out that the identified variables positively contributed to complications in the preparation of financial reports. Management interference, lack of guidance on interpretations and frequent updates of the standards were identified as the main challenges in preparing financial reports. Several recommendations were given to help simplify the process of preparing financial statements.
This report presents data on international oil production, demand, imports, exports, and stocks. World oil production and OECD demand data are for the years 1970 through 1994; OECD stocks from 1973 through 1994; and OECD trade from 1984 through 1994.
N.G. de Jager
textabstractReporting on value or reporting value-relevant information unavoidably implies that estimates of future cash flows should be made. Consequently, uncertainty becomes an important factor in (external) financial reporting. For a long time, uncertainty was dealt with by substituting relevant
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…
Full Text Available The Conceptual Framework for Financial Reporting (CFfFR) was developed to provide guidance to users and preparers of financial reports and standards. However, general consensus within the accounting community is that the Conceptual Framework fails...
Full Text Available In Romania, the bond market was set up later, comparatively to the equity market. This market is in a development process, but the international financial crisis has affected even the interest of investors in bonds. The secondary municipal bond market is not a very liquid market because these securities are bought from the primary market and held in portfolios by investors because these bonds have a low risk. The issue of these bonds is correlated with the financial independence and the level of decentralization of the local public authorities. The issuance of these bonds is correlated with financial independence and decentralization level specific to local public authorities. Under crisis conditions, the volatility of this market is more significant, the increasing deficits of local budgets decreasing the interest of the middle-class in investing in such financial instruments.
FINANCIAL REPORTING OF DLA-OWNED BULK PETROLEUM PRODUCTS Report No. D-2001-126 May 23, 2001 Office of...34DD MON YYYY") Title and Subtitle Financial Reporting of DLA-Owned Bulk Petroleum Products Contract or Grant Number Program Element Number...the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994. This is the fifth in a series of reports on the
Full Text Available This paper aims to present the first section of the proposed (by International Accounting Standards Board and Financial Accounting Standards Board new conceptual framework dealing with the objectives of financial reporting. The author presents and explains the proposed solutions. He places them in a broader context, which facilitates their understanding, critical analysis and forming of an opinion. This paper seeks to contribute to the discussion on the new conceptual framework for financial reporting
FINANCIAL REPORTING PRACTICE (U NCLASSIFIED) 12. PERSONALAUTHOR(S) Barrieault, Robert C. 13a. TYPE OF REPORT 113b. TIME COVERED 14. DATE OF REPORT ...continue on reverse if necessary and identify by block number) FIELD GROUP SUBGROUP Financial accounting/ reporting concepts. Depreciation, Inventory...Ratio Analysis for a Ships Store, Financial Reporting . 19 ABSTRACT (continue on reverse if necessary and identify by block number) The objective of
... 42 Public Health 4 2010-10-01 2010-10-01 false Financial recordkeeping and reporting requirements...-INCLUSIVE CARE FOR THE ELDERLY (PACE) Data Collection, Record Maintenance, and Reporting § 460.204 Financial... financial statements. (c) Accepted reporting practices. Except as specified under Medicare principles of...
... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial reporting requirements. 277.11 Section 277... OF STATE AGENCIES § 277.11 Financial reporting requirements. (a) General. This section prescribes... termination of Federal financial support. Requests from State agencies for extension of reporting due dates...
... No. FMCSA-2012-0020] RIN-2126-AB48 Rescission of Quarterly Financial Reporting Requirements AGENCY...); request for comments. SUMMARY: FMCSA proposes to eliminate the quarterly financial reporting requirements... person argued that the financial reporting requirements transferred from the Interstate Commerce...
... 25 Indians 1 2010-04-01 2010-04-01 false Financial reporting requirements. 276.8 Section 276.8... ASSISTANCE ACT PROGRAM UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS § 276.8 Financial reporting requirements. Requirements for grantees to report financial information to the Bureau, and to request advances...
... 46 Shipping 8 2010-10-01 2010-10-01 false Financial reporting requirements. 403.300 Section 403... UNIFORM ACCOUNTING SYSTEM Reporting Requirements § 403.300 Financial reporting requirements. (a) General: (1) The financial statements shall list each active account, including subsidiary accounts. (2) The...
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Financial reporting requirements. 200.36 Section 200.36 Housing and Urban Development Regulations Relating to Housing and Urban... Regulations § 200.36 Financial reporting requirements. The mortgagor must comply with the financial reporting...
... No. FMCSA-2012-0020] RIN-2126-AB48 Rescission of Quarterly Financial Reporting Requirements AGENCY...: FMCSA withdraws its June 27, 2012, direct final rule eliminating the quarterly financial reporting... future proposing the elimination of the quarterly financial reporting requirements for Form QFR and Form...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Uniform financial reporting... and Urban Development GENERAL HUD PROGRAM REQUIREMENTS; WAIVERS Uniform Financial Reporting Standards § 5.801 Uniform financial reporting standards. (a) Applicability. This subpart H implements uniform...
... 46 Shipping 8 2010-10-01 2010-10-01 false Financial and other reporting requirements. 252.23... SERVICES Operation § 252.23 Financial and other reporting requirements. (a) Voyage report. The operator... total loss covered by a policy of insurance. (d) Financial statements. The operator shall submit, in...
... No. FMCSA-2012-0020] RIN-2126-AB48 Rescission of Quarterly Financial Reporting Requirements AGENCY..., the Federal Motor Carrier Safety Administration (FMCSA) eliminates the quarterly financial reporting... would be ineffective or unacceptable without a change. III. Background Annual Financial Reporting...
... 25 Indians 1 2010-04-01 2010-04-01 false Financial Reporting Requirements B Appendix B to Part 276...—Financial Reporting Requirements A. Purpose and scope. This appendix prescribes requirements for grantee to report financial information to the Bureau and to request advances and reimbursement when a letter-of...
... Federal Housing Enterprise Oversight 12 CFR Part 1731 RIN 2590-AA11 Reporting of Fraudulent Financial...: PART 1233--REPORTING OF FRAUDULENT FINANCIAL INSTRUMENTS Sec. 1233.1 Purpose. 1233.2 Definitions. 1233... or financial instrument. (b) Examination. The examination by FHFA of fraud reporting programs of each...
.... SUMMARY: FMCSA eliminates the quarterly financial reporting requirements for certain for-hire motor... prepare plans for reviewing existing rules. The rule eliminates the quarterly financial reporting... Federal Register (73 FR 3316). Background Annual Financial Reporting Requirements Section 14123 of title...
... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Financial status report: Airport planning... agency conducting a project for airport system planning shall submit a financial status report on a form... TRANSPORTATION (CONTINUED) AIRPORTS AIRPORT AID PROGRAM Accounting and Reporting Requirements § 152.325 Financial...
Few events of the past decade have affected the global economic and political landscape as much as the sharp increase in the price of oil in 1973-74 and again in 1979-80. The massive transfer of real resources from mostly Western oil-consuming nations to oil-producing countries, especially to members of the Organization of Petroleum Exporting Countries, raised widespread fears that actions of OPEC nations could disrupt world financial markets, that oil markets and energy supplies would become unstable, and that a significant shift of political power would increase international tensions. In this study of how OPEC nations have used and learned to invest their wealth, Richard P. Mattione shows that the fears, have not in any significant way been realized. Mattione is the first to analyze in detail the size and distribution of the investments, their effects on the international financial system, and the motivations behind each OPEC member's investment strategy. Analyzing hard-to-find data from a variety of sources, he argues that investments in the United States and elsewhere have been motivated at least as much by conventional financial considerations - the need for liquidity, diversification, safety, and adequate rate of return - as by oil policy, development policy, or political considerations. He also traces the growth of these countries' abilities to absorb funds through internal development, their growing sophistication in financial planning and in moving Arab banks into international financial markets, and their mixed success in using aid to Third World countries to further their foreign policy goals. The book concludes with an analysis of the interplay of oil prices and policy, development needs, and financial strategies and their implication for the investments of each OPEC member in the 1980s. 33 tabs.
This paper uses a large panel of financial flow data from banks to assess how institutions affect international lending. First, employing a time varying composite institutional quality index in a fixed-effects framework, the paper shows that institutional improvements are followed by significant increases in international finance. Second, cross-sectional models also show a strong effect of initial levels of institutional quality on future bank lending. Third, instrumental variable estimates f...
Michael J. Artis; Mathias Hoffmann
In spite of two decades of financial globalization, consumption-based indicators do not seem to signal more international risk sharing. We argue that consumption risk sharing among industrialised countries has actually increased - in particular since the 1990s - but that standard consumption-based measures of risk sharing - such as the volatility of consumption conditional on output or international consumption correlations - have beennunable to detect this increase. The reason is that consum...
Increased leasing of Federal lands for energy exploration will add to the regulatory and administrative responsibilities of the USGS's Conservation Division. Similar responsibilities for Indian lands will arise. The objectives of the Conservation Division is to reduce the regulatory burden on industry while effectively and efficiently discharging its responsibility. This Management Summary Report represents the completion of the Preliminary Systems Design of the Auditing and Financial System, and is the first phase of the Improved Royalty Management Program (IRMP). Work reported includes: a Functional Specifications Report; Technical Specifications Report; Installation Plan; and a cost/benefit analysis. The potential benefits to be realized from the IRMP are significant and include: increased royalty receipts; more timely availability of funds; increased productivity of personnel; reduced regulatory burden on private industry; tighter security over information collected; reduced exposure to fraud and abuse; and better control over activities and funds.
Full Text Available The results of a business activity are concentrated in the financial reports; accounting is the instrument that provides these reports to internal and external users in order to help users to make useful economic decisions. At international level, the accounting is standardized by IASB (former IASC which elaborate financial reporting standards (known as IAS / IFRS in order to improve the quality and transparency of reporting. The changes in business environment (globalization, mergers and acquisition transactions, internationalization, corporate social implications requires a continuous updated of financial reporting. The accounting information is useful to their users if comply with quality characteristics, defined through the Conceptual Framework of Financial Reporting issued by IASB (the new form of Conceptual Framework is in place starting 2010. Starting 1990, the researchers (namely academics had to focus on new kind of works about accounting and accounting research; the process was difficult and is not end. Initially, the academics inspired from French accounting books and translated them with some changes/improvements correlated to Romanian economy. Gradually, some journals founded and the academics and practitioners begin to publish their work in a more scientific manner. In this paper, we will try to present an evolution of financial reporting in Romania, to identify if the alignment to international financial reporting standards improved the quality of reporting, and to investigate whether the adoption of the International Financial Reporting Standards for the individual financial statements of Romanian listed entities has improved the value relevance of the accounting numbers. The study uses data of entities listed on the Bucharest Stock Exchange, prior and post the adoption of the International Financial Reporting Standards for the individual financial statements. The year 2012 represents the year in which Romanian entities listed on
... of Federal Financial Report--Upcoming Mandatory Use of the Federal Financial Report System in the eRA.... ACTION: Notice. Purpose Beginning October 1, 2012, CDC will implement the expenditure data portion of the Federal Financial Report (FFR) in the Electronic Research Administration (eRA) Commons. The transition to...
The international financial market is extremely volatile because of the influence of anumerous objective and subjective factors. Because of these, în their fight for maximizing the profit, the creditinstitutes confronts permanently with all sort of risks.It is important to know that the risk is generated by a numerous operations and procedures. From thesecause, at least în the financial field, the risk must be considered as a complex of risks, în the sense that they canhave common causes, and...
The International Petroleum Statistics Report is a monthly publication that provides current international oil data. This report is published for the use of Members of Congress, Federal agencies, State agencies, industry, and the general public. Publication of this report is in keeping with responsibilities given the Energy Information Administration in Public Law 95-91. The International Petroleum Statistics Report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1995; OECD stocks from 1973 through 1995; and OECD trade from 1985 through 1995.
FINANCIAL REPORTING BY THE DEFENSE AUTOMATED PRINTING SERVICE Report No. 98-201 September 23, 1998 Office of the Inspector...ACCOUNTING SERVICE DIRECTOR, DEFENSE LOGISTICS AGENCY DIRECTOR, DEFENSE AUTOMATED PRINTING SERVICE SUBJECT: Audit Report on FY 1997 Financial Reporting by the...General for Auditing Office of the Inspector General, DoD Report No. 98-201 September 23, 1998 (Project No. 8FJ-2002.04) FY 1997 Financial Reporting by
Fradeani, Andrea; Panizzolo, Davide; Metushi, Eldi
The new taxonomy 2014-11-17 mandates Italian unlisted companies to codify in XBRL also the notes to the financial statements. Building on previous literature, the aim of this study is to analyze the impact of mandatory XBRL extension to the financial statements notes on financial reporting quality of the Italian unlisted companies. We focus our analysis on the taxonomy usage and the customizations made by the filers. Our data represents the very first sample of Italian financial statements fi...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial status report. 3015.82 Section 3015.82 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Financial Reporting Requirements § 3015.82...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Center financial management and reporting... § 638.808 Center financial management and reporting. The Job Corps Director shall establish procedures to ensure that each center operator and each subcontractor maintain a financial management system...
... 7 Agriculture 7 2010-01-01 2010-01-01 false Financial records and reporting requirements. 735.101... Warehouse Licensing § 735.101 Financial records and reporting requirements. (a) Warehouse operators must maintain complete, accurate, and current financial records that must be available to DACO for review or...
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)
Full Text Available This paper based on the perspective of firm’s agency conflicts to examine the relationship between financial reporting quality and investment efficiency and to analyze the interaction effect between financial reporting and free cash flow on investment efficiency. We use 3,726 samples of Chinese listed firms during the period 2008–2012 to test the empirical models and find that financial reporting quality is negatively associated with both underinvestment and overinvestment. Further, we find that financial reporting quality is more strongly associated with overinvestment for firms with large free cash flow, which suggests that financial reporting quality can reduce information asymmetry arising from agency conflicts between the managers and investors. This paper extends the field of application of financial reporting quality and investment efficiency in the emerging capital markets in the world. Moreover, this is the first study that analyzes the interaction effect between financial reporting quality and free cash flow on investment efficiency.
Full Text Available The international financial market is extremely volatile because of the influence of anumerous objective and subjective factors. Because of these, în their fight for maximizing the profit, the creditinstitutes confronts permanently with all sort of risks.It is important to know that the risk is generated by a numerous operations and procedures. From thesecause, at least în the financial field, the risk must be considered as a complex of risks, în the sense that they canhave common causes, and producing a risk can generate a chain reaction, and producing other risks. As aconsequence, these operations and procedures can permanently generate an exposure to the risk.The risk management is the key function of the financial institution, which act on the internationalfinancial market. For doing this, it must be used some important instruments that can conduce to avoiding risksor dimensioning them.
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
Huggett, Daniel James
The National Aeronautics and Space Administration (NASA) provides a formal training program for prospective employees titled, Pathways Intern Employment. The Pathways program targets graduate and undergraduate students who strive to become an active contributor to NASA's goal of space exploration. The report herein provides an account of Daniel Huggett's Pathways experience for the Spring and Summer 2017 semesters.
The Department of Defense (DoD) Fiscal Year (FY) 2007 Agency Financial Report (AFR) provides the President, the Congress, other Federal departments and agencies, and the American public an overview of the Department's financial condition...
..., [email protected] . SUPPLEMENTARY INFORMATION: I. Abstract The NASA Contractor Financial Management... NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [Notice 12-019] Information Collection; NASA Contractor Financial Management Reports AGENCY: National Aeronautics and Space Administration (NASA). ACTION...
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.
Jørgensen, Poul Erik Flyvholm; Isaksson, Maria
Purpose - The research draws a detailed picture of how international corporate banks and financial institutions approach image advertising to enhance impressions of their credibility. The purpose of the work is twofold, namely to demonstrate (1) how corporate credibility can be conceptualised...... appeal forms. A corpus of 74 print adverts was then analysed in order to establish how financial marketers use the appeal forms to strengthen their corporate reputations. The patterns of credibility appeals obtained were then linked to the supporting visuals to provide a fuller picture of the industry...... to practitioners and to academic writing courses. Additionally, our application of the credibility appeals disconfirms the expectation that financial services providers are increasingly branding themselves to the market on the basis of their character and concern for customers' well-being....
Accelerating cross-border investing activity transformed global financial markets during the latter part of the 20th century. Due to lack of trans-cultural consistency comparability in financial reporting was compromised hindering multinational investment. In light thereof there is a movement afoot among international authorities to converge…
Agami, Abdel M.
Provides some sources of corporate financial information on the Internet and illustrates how to use these resources in teaching international business and, more specifically, financial reporting and analysis of multinational enterprises. Points out some of the advantages and limitations of these resources. (EV)
Report #16-F-0323, Sept 22, 2016. Due to the material weakness in internal controls noted, EPA cannot provide reasonable assurance that financial data provided for the PRIA Fund for FY 2014 accurately reflect the agency’s financial activities and balances.
ort DEFENSE COMMISSARY AGENCY FINANCIAL REPORTING OF PROPERTY, PLANT, AND EQUIPMENT Report Number 98-097 March 27, 1998 Office of the Inspector...UNDER SECRETARY OF DEFENSE (COMPTROLLER) DIRECTOR, DEFENSE COMMISSARY AGENCY SUBJECT: Audit Report on Defense Commissary Agency Financial Reporting of...General for Auditing Office of the Inspector General, DoD Report No. 98-097 March 27, 1998 (Project No. 7FJ-2026) Defense Commissary Agency Financial
.... 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...
This paper aims to present the first section of the proposed (by International Accounting Standards Board and Financial Accounting Standards Board) new conceptual framework dealing with the objectives of financial reporting. The author presents and explains the proposed solutions. He places them in a broader context, which facilitates their understanding, critical analysis and forming of an opinion. This paper seeks to contribute to the discussion on the new conceptual framework for financial...
Sørensen, Birgitte Holm; Meyer, Bente Tobiesen; Levinsen, Karin
It is the aim of this report to assess and evaluate the internal communication and management of the Lancelot project during the first year of the project's life (October 2005- October 2006). The report focuses on these issues through the perspective of a SWOT analysis carried out by the project...... members at the interim meeting in Manchester October 6-8. The SWOT analysis was chosen for its ability to identify problem areas within an organisation or group as well as focusing on and facilitating future actions and strategies. The report contains a summary of the issues raised by the SWOT as well...
Sørensen, Birgitte Holm; Meyer, Bente; Levinsen, Karin
It is the aim of this report to assess and evaluate the internal communication and management of the Lancelot project during the first year of the project's life (October 2005- October 2006). The report focuses on these issues through the perspective of a SWOT analysis carried out by the project...... members at the interim meeting in Manchester October 6-8. The SWOT analysis was chosen for its ability to identify problem areas within an organisation or group as well as focusing on and facilitating future actions and strategies. The report contains a summary of the issues raised by the SWOT as well...
A review was performed of the Financial Reporting System (FRS), a form to be completed by companies engaged in the energy industry. FRS, designated as EIA-28, will gather financial, economic, and operating data from energy companies to provide the Energy Informtion Administration with a statistically accurate profile of the energy industry. The procedures for performing the review are described. The study focused on the specific schedules that compose EIA-28, the supporting instructions, and the glossary. Specific comments relative to various technical or mechanical aspects of the form are presented. (MCW)
This document is a monthly publication that provides current international oil data. The Report presents data on international oil production, demand, imports, exports, and stocks. Section 1 contains time series data on world oil production, and on oil demand and stocks in the OECD. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. Section 4 presents annual time series data on world oil production and oil stocks, demand and trade in OECD countries.
Gaay Fortman, B. de
Following the World Bank’s World Development Report2000/2001: The attack on poverty and the voices of the poor studies on which that document had been based, this chapter explores Human Rights obligations of the International Financial Institutions (IFIs). In this connection poverty is approached as
Full Text Available Essential legal and financial Structures, sometimes complex, had until recently been small and medium entrepreneurs away from the use of offshore jurisdictions, but the constraints of increasingly heavy taxation of excessive in certain States, you push even those with limited resources to use in these jurisdictions to protect revenue. The purpose of this research is to analyze the offshore jurisdictions in order to determine the possibilities of useof their disadvantages in order to improve measures to combat tax evasion, as well as for the use of their advantages in order to reduce illegal migration and regular employment of capital through the analysis of specific cases of the use of offshore jurisdictions – Case Frabklin Jurado, The Bank of Commerce and Credit InternationalAmerican Express Bank International. Scientific novelty and originality of the investigation consists of:-the identification on the basis of international practice, some offshore jurisdictions specific items in order to reflect their fiscal policies (trade and investment, etc.-analysis of cases of the use of offshore jurisdictions in international financial fittings (such as the Bank of Credit and Commerce International; Franklin Jurado; American Express Bank International,-identification of the impact paradisurilor tax and offshore financial centres of the world economy– revealing secret financial transactions carried out within the framework of ofssore, research instruments jurisdictions and management techniques of cadrulacestor tax jurisdictions.It is interesting to be seen through the prism of analysis of economic-fiscal financiare if a competition is beneficial or not for the welfare of States and to what extent this competition will have a say in future developments and tax paradisurilor finanaciare offshore centres. In conclusion, I appreciate that in order to survive successfully in the global economy of the future, offshoreJurisdictions should promote a
This paper analyses the causal relationship between financial development and international trade using data of 21 developed and developing countries from 1961 to 2010 and appropriate time series techniques that allow us to decompose the source of causation according to the order of integration of the variables and the possible presence of a cointegrating relationship. We analyze in detail the issue of integration of our series in order to use the most appropriate stationarisation techniques ...
Holm, Claus; Schøler, Finn; Lønne, Henrik; Maingot, Michael
The International Accounting Standards Board has as its mission the development of a singlet set of high quality standards to be applied consistently by companies globally. The purpose of this paper is to examine the implementation process to integrate IFRS in the smaller and developed countries of Denmark, Ireland and New Zealand. The paper examines the enablers for successful IFRS implementation, namely, Legislative changes, Accounting profession, Stock exchanges, Enforcement, Early adopt...
FINANCIAL REPORTING OF DEPARTMENT 97-FUNDED PROPERTY, PLANT, AND EQUIPMENT Report No. D-2001-039 January 31, 2001...from... to) ("DD MON YYYY") Title and Subtitle Financial Reporting of Department 97-Funded Property, Plant, and Equipment Contract or Grant Number...include financial statements for a reporting entity entitled inOther Defense Organizations-General Fund.lz The entity represents a consolidation of
This document is a monthly publication which provides current data on international oil production,demand,imports and stocks. This report has four sections which contain time series data on world oil production and oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). Also included is oil supply/demand balance information for the world, and data on oil imports and trade by OECD countries.
Full Text Available This paper documents a case study of true and fair view override in financial reporting by a multinational firm subject to International Financial Reporting Standards (IFRSs. The 2009 Interim Report of HSBC Holdings plc states that HSBC departed from the requirements of IAS 32 Financial Instruments: Presentation (IAS 32. Notwithstanding its noncompliance with the IFRSs, HSBC (2009 concluded that “the interim consolidated financial statements prepared on this basis presented fairly, and gave a true and fair view of the Group’s financial position, financial performance and cash flows” (p. 2. The purpose of this paper is to evaluate critically the accounting treatment in light of the relevant requirements of the IFRSs and the implications for professional accounting standards arising from this departure.
The International Petroleum Statistics Report is a monthly publication that provides current international data. The report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent 12 months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1996; OECD stocks from 1973 through 1996; and OECD trade from 1986 through 1996.
Schuler, Matthieu; Marchal, Valerie; Albert, Marc-Gerard; Baudry, Michel; Bigot, Marie-Pierre; Charron, Sylvie; Clavelle, Stephanie; Cousinou, Patrick; Deschamps, Patrice; Delattre, Aleth; Demeillers, Didier; Dumas, Agnes; Franquard, Dominique; Goudal, Bernard; Jalouneix, Jean; Laloi, Patrick; Monti, Pascale; Richer, Gerard; Rollinger, Francois; Rouyer, Veronique; Rutschkovsky, Nathalie; Scott De Martinville, Edouard; Tharaud, Christine; Verpeaux, Jean-luc; Jaunet, Camille; Hedouin, Jean-Christophe
This annual report for the French nuclear safety and radiation protection Institute (IRSN) addresses its organizational aspects (highlights, figures illustrating the activity, organizational chart, councils and committees), proposes a summary of activities and presentation of the strategy (transparency and communication policy, promotion of a safety and radiation protection culture). The main part addresses the activities regarding safety, nuclear security and non-proliferation, radiation protection of the environment and in terms of human health, and emergency and post-accidental situations. The last part addresses issues of efficiency (property, health, safety, environmental protection and quality, and human resources). A financial report is also proposed and contains a management report, financial statements, and an appendix to annual accounts
Le Guludec, Dominique; Niel, Jean-Christophe; Mouton, Georges-Henri; Repussard, Jacques; Schuler, Matthieu; Marchal, Valerie; Albert, Marc-Gerard; Bigot, Marie-Pierre; Brisset, Yves; Bruna, Giovanni; Charron, Sylvie; Clavelle, Stephanie; Deschamps, Patrice; Delattre, Aleth; Demeillers, Didier; Laloi, Patrick; Lorthioir, Stephane; Monti, Pascale; Rollinger, Francois; Rouyer, Veronique; Tharaud, Christine; Jaunet, Camille; Pascal-Heuze, Charlotte
After some introductory texts proposed by several IRSN head managers, and a brief presentation of some key data illustrating the activity, the annual report presents the main strategic orientations, notably in the field of knowledge management, and of information and communication. After some images illustrating the past year, activities are presented. They first deal with safety: safety of civil nuclear facilities, from decommissioning old reactors to designing those of the future, reactor ageing, severe accidents, fuel, criticality and neutronics, fire and containment, safety and radiation protection of defence-related facilities and activities, geological disposal of radioactive wastes. They secondly deal with security and non-proliferation (nuclear security, nuclear non-proliferation, chemical weapon ban), thirdly with radiation protection for human and environment health (environment monitoring, radionuclide transfer in the environment, radon and polluted sites, human exposure, radiation protection in the workplace, effects of chronic exposures, protection in health care), and fourthly with emergency and post-accident situations (emergency and post-accident preparedness and response). The next part of the activity report addresses issues related to efficiency: improved economic and financial management, property, computer security, quality and corporate social responsibility, human resources, organisation chart. The financial report proposes a management report, financial statements with an appendix to annual accounts, and an auditor's report
Mejzlik, Ladislav; Durianova, Gabriela; Velechovska, Lenka
The paper deals with the investor and potential investor access to the presented financial information of the companies. The accesibility and reliatbility of the financial information is one of the essential aspects of investor decision making. The text treats with the possibilities of presenting financial statements with focus on the internet as suitable place which is used very often nowadays. Timeliness and the form of the financial report submitting is harmonized in t...
Gorgieva-Trajkovska, Olivera; Koleva, Blagica; Nikoloski, Krume
Abstract: The process of decision making requires information, financial and non-financial information as well. The most important financial information needed in the process of business and investment decisions comes from accounting, i.e. financial reporting in a company. Therefore, it can be said that accounting is a service function to the management in a company. It basically processes or gathers and studies “raw data” and converts them into suitable information, necessary for the process...
The U.S. Geological Survey's Conservation Division is responsible for regulating the development of mineral resources on Federal leased land and Indian reservations and for collecting the rents and royalties due from these lands. Development of the Improved Royalty Management Program will help carry out these functions, and a systems design of the Auditing and Financial System (AFS) is developed. Installation of many facets of the AFS will consider some of the problems expected in implementing improvements in the royalty reporting and paying process. The introductory chapter considers changes in regulations, changes in reporting, USGS organizational changes, and computer-system conversions. It also provides a brief summary of the considerations USGS will address in each of these areas. The detailed approach for converting the method of reporting and paying royalties is presented. A description of the file-conversion approach explains how the new system information is obtained. The impact of the USGS organizational changes on personnel in both the old and new offices is discussed. The steps to convert the computer system and the effort required are summarized.
... three. Similarly, the financial services sector of an economy facilitates the efficient deployment of capital and minimizes business risks functions upon which all other industry sectors vitally depend...
Holm, Claus; Schøler, Finn; Lønne, Henrik
of Denmark, Ireland and New Zealand. The paper examines the enablers for successful IFRS implementation, namely, Legislative changes, Accounting profession, Stock exchanges, Enforcement, Early adopters in 2004, and Adopters in 2005. An examination of the top 30 companies' annual reports for the three...
Hoffman, Charles; Mora Rodríguez, María
The era of digital financial reporting has arrived. However, many questions persist relating to how digital financial reporting will actually work and what is necessary to make it work appropriately. Technologies such as XBRL must be well understood in order to harness their power. This paper is intended to provide a thought-provoking summary of the moving pieces that must be considered by accountants and other business professionals when evaluating how digital financial report...
OFFICE OF THE SPECIAL INSPECTOR GENERAL FOR IRAQ RECONSTRUCTION AGENCIES NEED IMPROVED FINANCIAL DATA REPORTING FOR PRIVATE SECURITY...SUBTITLE Agencies Need Improved Financial Data Reporting for Private Security Contractors 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM...IMPROVED FINANCIAL DATA REPORTING FOR PRIVATE SECURITY CONTRACTORS What SIGIR Found DoD, DoS, and USAID have not been required to
... 25 Indians 1 2010-04-01 2010-04-01 false Financial management, internal and external controls and....46 Financial management, internal and external controls and other assurances. Grantee financial... organizations and tribal organizations, where applicable). (e) Internal control. Effective control and...
Luis Gustavo do Lago Quinteiro
Full Text Available The extant literature provides evidence on the impact of financial disclosure environments on international capital mobility. However, to our knowledge, there are no such studies including Latin-American countries. We aimed to fill this void by assessing the influence of accounting information on international capital mobility in a twenty-two-country sample, including the three largest Latin-American countries: Argentina, Brazil and Mexico. The countries included in the sample represent around 80% of the world’s GDP from 1995 to 2001. Our empirical results show with a 99% confidence level that the degree of disclosure of value-relevant accounting information has positively influenced international capital mobility. We also show, with a 95% confidence level, that countries where financial accounting is less aligned with tax accounting present higher international capital mobility. The three Latin-American countries studied present relatively low levels of disclosure among thesampled countries. However, whereas Argentina and Brazil show low levels of capital mobility, Mexico stands out with a high capital mobility, which we reckon could be accounted for by the country’s trade and investment connections with the US and by its participation in the NAFTA.
Full Text Available The global financial crisis from 2008 was considered a trigger to reshape the financial systems and to enhance the risk management practices. Considering the developments and new guidelines that are now used it can be observed a “positive” effect of the crisis, in particular to strengthen the risk management culture and governance in all aspects. Comparing to 2008 year, the improvements that have been made to the risk management systems can be easily observed in the financial institutions. For the scope of the article, the subject of this review will be focused on the internal audit function. The main aspect is to capture the new practices that are now used in order to contribute to a performing internal governance system. A case study will be presented in order to better understand how the internal audit function is designed and acting as a “line” of defence in the internal governance system. Also, it is in the scope of the article to issue some recommendations for future developments of the audit function in order to better manage its mission and the objectives. A risk based model used in the planning activities is presented. The financial institutions improved significantly their internal governance system. The internal audit function is now better integrated in the internal structures and clear lines of communication were settled. As the conclusion of the article is illustrating, the internal governance was frequently not sufficiently developed causing a failure in the risk management systems from the systemically financial institutions. The content of the article has practical applicability, as the results and the recommendations could be used in the design of an audit function within a financial institution.
... of the Military Departments and Defense agencies. We also assessed management controls affecting the financial reporting of Government property, and we assessed compliance with applicable laws and regulations...
Plöckinger, M.; Aschauer, E.; Hiebl, M. R. W.
In recent years, numerous studies have investigated whether individual executives and their characteristics relate to financial reporting choices. In this article, we review archival, experimental and survey research on the influence of individual executives on corporate financial reporting and use...... upper echelons theory as our organizing framework. Our review of 60 studies shows that research consistently finds that top management executives exert significant influence on financial reporting decisions, particularly on disclosure quality. Empirical research has developed promising approaches...... and adopts a more holistic perspective on financial reporting outcomes. © 2016 University of Florida, Fisher School of Accounting...
The accelerated growth of the domestic energy industry has made the current USGC Royalty Collection System critically outmoded; problems incurred are discussed. A work group developed a long-range approach, consisting of three phases and a five-year plan. The first phase of the plan to be identified for implementation is the Auditing and Financial System (AFS), focusing on the receipt and posting of sales data from mineral extraction. Phase II is the Production Auditing System, and Phase III is the Enhanced Management progam. This report deals with the AFS, Phase I, of a complete Improved Royalty Management Program (IRMP). It describes what the new system is to do, how it will affect the user and the existing organization, and what performance standards it must achieve. The remaining work on the AFS involves designing the system to perform the functions described in this report and implementing that design. Sections presented are: the IRMP; the AFS; Detailed Functional Descriptions; Organizational Requirements; Inputs and Outputs; Performance Requirements; Security and Control Requirements; and Major Conversion Considerations (key considerations for converting from the existing system to the AFS).
The U.S. Geological Survey's Conservation Division is responsible for regulating the development of mineral resources on Federal leased lands and Indian reservations and for collecting the rents and royalties due from these lands. The objective of the Division is to reduce the regulatory burden on industry while effectively and efficiently discharging its responsibility. The development of the Improved Royalty Management Program (IRMP) is a major step in accomplishing these goals. The completion of the technical design of the first phase in the development of the IRMP is reported. How the Auditing and Financial System (AFS) will operate from a data-processing viewpoint is described, as well as how the system will perform the functions identified in the AFS Functional Specifications Report. Information is provided on the following: Systems Components (hardware, software, organizations, and security; Data Base Design; Overall System Flow; Batch Processes; On-line Processes; System Testing; Conversion; and Resource Requirements (performance, computer storage; timings, terminals, transmission, datapoint configuration; personnel).
The purpose of this paper is to identify the effects of the implementation of selected regulations on corporate governance in the reporting practice of banks listed on the Warsaw Stock Exchange. The survey examined the disclosures concerning the main features of the internal control and risk management systems in relation to financial reporting in banks. Research studies on disclosures related to control over financial reporting have not yet been conducted. The paper uses a research method in...
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...
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Reporting financial interests. 73.735-1006 Section... Reporting financial interests. (a) Consultants who will work more than 60 days in a calendar year are... equal to or greater than the basic rate for GS-16, Step 1. Such consultants are covered by the reporting...
... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Financial reporting. 105... GOVERNMENTS 71.14-Post-Award Requirements/Reports, Records, Retention, and Enforcement § 105-71.141 Financial reporting. (a) General. (1) Except as provided in paragraphs (a) (2) and (5) of this section, grantees will...
... 14 Aeronautics and Space 4 2010-01-01 2010-01-01 false Reporting of financial data. 298.62 Section... PROCEEDINGS) ECONOMIC REGULATIONS EXEMPTIONS FOR AIR TAXI AND COMMUTER AIR CARRIER OPERATIONS Reporting Requirements § 298.62 Reporting of financial data. (a) Each commuter air carrier and each small certificated...
... 39 Postal Service 1 2010-07-01 2010-07-01 false Treatment of additional financial reports. 3050.41... Treatment of additional financial reports. (a) For purposes of the reports required by § 3050.40(a)(2), the Postal Service shall obtain an opinion from an independent auditor on whether the information listed in...
... corporate credit unions, to submit financial data and other information as required by the Board.\\1\\ The Act... has broad discretion to set the conditions and information requirements for such reports.\\3\\ More specifically, NCUA requires FICUs to submit financial reports, reports of officials, credit union profiles, and...
... credit unions, to submit financial data and other information as required by the Board.\\1\\ The Act... has broad discretion to set the conditions and information requirements for such reports.\\3\\ More specifically, NCUA requires FICUs to submit financial reports, reports of officials, credit union profiles, and...
... 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...
Full Text Available The paper develops a comprehensive framework for market risk stress testing in internationally active financial institutions. We begin by defining the scope and type of the stress test and explaining how to select risk factors and the stress time horizon. We then address challenges related to data gathering, followed by in-depth discussion of techniques for developing realistic shock scenarios. Next the process of shock application to a particular portfolio is described, followed by determination of portfolio profit and loss. We conclude by briefly discussing the issue of assigning probability to stress scenarios. We illustrate the framework by considering the development of a ‘worst case’ scenario using global financial market data from Thomson Reuters Datastream.
This monthly publication provides international oil data for January 1998. The report presents data on oil production, demand, imports, and stocks in four sections. Section 1 containes time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. section 3 presents data on oil imports by OECD countries. Section 4 containes annual time series data on world oil production and oil stocks, demand, and trade in OECD countries.
T. P. Voronchenko
Full Text Available The article presents the innovative aspects of development of state internal fi nancial control and internal fi nancial audit in terms of the budgeting focused on result. A mechanism for implementing the functions of the Supervisory bodies in order to ensure the effi cient use of budgetary funds and eff ectiveness of budget expenditures. The main purpose of the article is justifi cation of implementing systems of internal fi nancial control and internal fi nancial audit in the structures of the major administrators and recipients of budgetary funds, with the allocation of the basic tools that ensure the functioning of the control mechanism, the combination of control procedures and sequence of their implementation. Methodological base of research is the generalization of domestic and foreign experience of internal fi nancial control and internal fi nancial audit, refl ecting an objective law and the necessity of development of state fi nancial control system in the conditions of innovative economy. The result of the implementation of the proposed mechanism and instruments for its implementation in key spending units and recipients of budget funds should be to ensure the eff ectiveness of the implementation of government programmes and projects. Signifi cance of the research contained in the article problems and their solutions is to ensure the effectiveness of the regulatory authorities at all stages of movement of budgetary funds and effective implementation of their Manager and recipient assigned to them socio-economic functions.
Full Text Available Purpose: The aim of this study was to identify the content of disclosures presented by public companies listed on the Warsaw Stock Exchange on the internal control and risk management systems in relation to financial reporting. Methodology: The study contents were formulated with the use of literature studies. Content analysis studies and disclosure index studies were used for the study of narrative disclosures. The research was of a qualitative nature. Results: The results showed that the companies listed on the Polish capital market are still at the stage of formulating reporting practices in the area of control systems over financial reporting. It should be noted that the diversity in information presented within disclosures about control systems over financial reporting is considerable. For some companies, the disclosures are formulated at such a high level of generality that no firm conclusions can be drawn. Detailed items of disclosures presented by particular companies can be identified in the reporting practices. The findings may provide the basis for constructing an index of disclosures about control systems over financial reporting. Scope of research: The study examined disclosures about internal control and risk management systems in relation to financial reporting presented by public companies listed on the Warsaw Stock Exchange. Originality: Disclosures about internal control and risk management systems in relation to financial reporting are a relatively new issue in Polish practice. The literature studies carried out as part of the research indicate that this issue is a research gap.
Full Text Available This research paper is based on an assessment of the effects of the recent financial crisis on the international trade and the way states and international organizations acted in this context. The importance of this research topic consists in identifying the way the international trade liberalization process has been affected by the financial crisis and the way anti-crisis measures deviated from the basic rules agreed under the aegis of WTO/GATT. The intended purpose of the paper is to conduct a substantive assessment of undertaken actions by the various states aimed to mitigate crisis impact on anti-dumping investigations and measures. Precisely, it was assayed whether the international financial crisis has been an opportunity for WTO member states to plainly intervene in the economy and give up the commitments they made in the context of multilateral commercial negotiations. Considering the international, regional and national effects of the crisis the topic has been copiously elaborated on by economics literature. A number of anti-crisis measures were presented encouraging massive intervention in the economy, as well as actions, particularly of International Organizations according to which measures could be taken without deviating from globally agreed mechanisms and principles. In order to be able to find out which of these two options prevailed in actions undertaken by the states the types of international, regional or national anti-crisis measures were selected. Positions voiced by the World Trade Organization, United Nations Conference on Trade and Development (UNCTAD, European Union are rendered. To answer the question about the way it has been responded in order to mitigate crisis effects, adopted anti-crisis measures were inventoried and their deviation from international rules was assessed. One of the indicators used in the assessment of anti-crisis measures is the progress of the anti-dumping investigations and measures notified to
Muhammad Abdul Majid Makki
Full Text Available To capture international opportunities of capital accumulation for corporate sector and to contribute in the development of economy, the government of Pakistan acted speedily to harmonize with international financial reporting system immediately after establishment.This study presents a comprehensive detail of Pakistan’s adopted efforts along with a critical-eye on developments and improvements in the reporting system with the passage of time. It scrutinizes major milestones in development of the financial reporting framework of Pakistan. We traced financial reporting practices in Indian subcontinent era and found them unsatisfactory. Hindustan was under the colonial power of Great Britain; therefore its impact on accounting and financial reporting in Pakistan was dominant afterindependence. Examples of this influence are enforcement of companies’ act 1913 and auditor’s certificate rules shows. We examined the institutional development from establishment of Pakistan till now and divided that era in 1947-1971, 1971-1999 andperiod of 21stcentury which played vital role in improvement of financial reporting practices in the country. These milestones are established with view of crucial events toward advances in accounting. In early years of Pakistan PIA (Pakistan Institute ofAccountants was first private body but after it ICAP (Institute of Chartered Accountants of Pakistan made by government was an important step. Next major step was taken in 1971; it was the formation of SECP (Securities and Exchange Commission of Pakistan.Its structure and provisions provided for external reporting of corporations are discussed. Companies’ Ordinance 1984 was another beneficial footstep toward this journey. After discussing all the institutional developments and improvements in financial reportingsystem of Pakistan, we addressed the current status of financial reporting in the 2000s.Study concludes that major improvements and advances made in the
The International Petroleum Statistics Report presents data on international oil production, demand, imports, and exports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1994; OECD stocks from 1973 through 1994; and OECD trade from 1984 through 1994.
The International Petroleum Statistics Report presents data on international oil production, demand, imports, exports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. World oil production and OECD demand data are for the years 1970 through 1994; OECD stocks from 1973 through 1994; and OECD trade from 1984 through 1994.
The International Petroleum Statistics Report presents data on international oil production, demand, imports, and stocks. The report has four sections. Section 1 contains time series data on world oil production, and on oil demand and stocks in the Organization for Economic Cooperation and Development (OECD). This section contains annual data beginning in 1985, and monthly data for the most recent two years. Section 2 presents an oil supply/demand balance for the world. This balance is presented in quarterly intervals for the most recent two years. Section 3 presents data on oil imports by OECD countries. This section contains annual data for the most recent year, quarterly data for the most recent two quarters, and monthly data for the most recent twelve months. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries. Word oil production and OECD demand data are for the years 1970 through 1995; OECD stocks from 1973 through 1995; and OECD trade from 1985 through 1995.
Luiza Loredana Nastase
Full Text Available If during the global economic and monetary-financial felt in the last seven-eight years was observed that the most affected countries were those with a developed economy currently it seems that the wheel turns and target countries with an emerging economy. Thus, the financial markets of advanced countries seem to be characterized by stability in opposition to those of emerging markets, which seem to become increasingly vulnerable. This paper tries to capture the current economic situation of the two categories of states, from the major aspects that determined the evolution of socio-political and macroeconomic indicators, presenting the statistical data and trying to predict future period. A special importance should be given to international markets. Given that the extension of global economic integration and cooperation on the international market participants are relative conditioning is required for a consensual approach and multilateral thereof, for reducing and avoiding imbalances in the international trading system. We will take into account the need to involve politics in parallel with the adoption of measures specific to each category of state. All these issues will be addressed further
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)
Frese, Richard C; Kitchen, Patrick J
Financial reporting of medical malpractice self-insurance is evolving. The Financial Accounting Standards Board Accounting Standards Codification Section 954-450-25 provides guidance for accounting and financial reporting for medical malpractice. Discounting of medical malpractice liabilities has been reassessed in recent years. Malpractice litigation reform efforts continue in several states. Accountable care organizations could increase the frequency of medical malpractice claims because of patients' heightened expectations regarding quality of care.
A. de Jong (Abe); G.M.H. Mertens (Gerard); A.M. van der Poel (Marieke); R. van Dijk (Ronald)
textabstractAbstract: We examine financial analysts’ views on corporate financial reporting issues by means of a survey among 306 analysts and interviews among 21 analysts and compare their views with that of CFOs. Since CFOs believe that meeting or beating analysts’ forecasts and managing
Bonaci Carmen Giorgiana; Matis Dumitru
Our paper analyzes the manner in which the financial reporting model evolved towards fair value accounting. After a brief introduction into the context of financial reporting at international level, the analysis focuses on the accounting model of fair value. This is done by synthesizing main studies in accounting research literature that analyze fair value accounting through a theoretical approach. The analysis being developed relies on literature review methodology. The main purpose of the d...
This study was conducted to investigate Corporate Financial Reporting of Marketable Securities (MS) in Nigeria with a view to determine the impact of the reporting system on the financial performance of banks. To achieve the above objective research questions were raised, hypotheses were formulated, and a review of ...
Bean, David; Glick, Paul
In June 1999, the Governmental Accounting Standards Board (GASB) issued its statement on the structure of the basic financial reporting model for state and local governments. Explains the new financial reporting model and reviews the implementation issues that school districts will need to address. (MLF)
Bell, Reginald L.
This article presents an interview with Ray Gonzalez, a risk consultant at Deloitte & Touche LLP, in Houston, Texas, about the financial reporting responsibilities of top, middle, and frontline managers in large and medium-size firms. This interview spotlights the necessity for timely and accurate reporting of financial information relating to…
Gatti, Bernard F.
Describes the Association of School Business Officials' (ASBO's) Certificate of Excellence for Financial Reporting review process for school district accounting and financial reporting. Describes the Self-Evaluation Worksheet revision, the panel of review members' guide, and highlights of program year 1994. Two figures are included. (LMI)
... 36 Parks, Forests, and Public Property 1 2010-07-01 2010-07-01 false Financial reporting requirements and reimbursements. 64.15 Section 64.15 Parks, Forests, and Public Property NATIONAL PARK SERVICE... RIGHTS-OF-WAY § 64.15 Financial reporting requirements and reimbursements. Payments to applicants will...
It is with great pleasure that I present to you the 2008 Chief Financial Officer's Annual Report. The data included in this report has been compiled from the Budget Office, the Controller, Procurement and Property Management and the Sponsored Projects Office. Also included are some financial comparisons with other DOE Laboratories and a glossary of commonly used acronyms.
... provide such information as shall be specified in a reporting form prescribed by the Secretary to be filed... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Reports of foreign financial accounts. 103.24 Section 103.24 Money and Finance: Treasury Regulations Relating to Money and Finance FINANCIAL...
Allan, Ronald Gage; Hermsen, Al
Asserting that confusion about the treatment of merit-based or categorically-based aid has revealed the need for a generalized financial aid reporting methodology, suggests a procedure for financial aid reporting that recognizes differing treatment of need-based aid before and after awarding. Offers general information about the theoretical…
A. Elemes (Tassos)
markdownabstractAbstract The purpose of this dissertation is to investigate determinants and consequences of financial reporting quality. The first study examines the impact of high quality financial reporting on private firms’ access to bank debt and trade credit capital. The results
... 39 Postal Service 1 2010-07-01 2010-07-01 false Financial disclosure reports. 10.4 Section 10.4 Postal Service UNITED STATES POSTAL SERVICE THE BOARD OF GOVERNORS OF THE U.S. POSTAL SERVICE RULES OF CONDUCT FOR POSTAL SERVICE GOVERNORS (ARTICLE X) § 10.4 Financial disclosure reports. (a) Requirement of...
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
Angélica Arroyo Morales
Full Text Available Los espacios de discusión, intercambio y difusión de los avances científicos y tecnológicos dentro de la profesión contable tienen los objetivos fundamentales de evaluar al contador público frente al desarrollo vertiginoso de la profesión y las exigencias del mercado nacional e internacional, dotar de las herramientas necesarias que le permitan un ejercicio de la profesión más eficiente y eficaz y, por último, incentivar la investigación contable. Razones que contribuyen al desarrollo científico y tecnológico de la ciencia contable; por lo tanto, este trabajo técnico es fruto del convencimiento de que el Peritaje Contable es una de las competencias del contador público establecida en la ley 28951 de actualización de la ley 13253 sobre Profesionalización del Contador Público que debe ser ejercida a nivel internacional.
O. -r rit SUMMARY REPORT ON FINANCIAL REPORTING OF GOVERNMENT PROPERTY IN THE CUSTODY OF CONTRACTORS Report No. 99-013 October 15, 1998 SQUALM 4...MEMORANDUM FOR UNDER SECRETARY OF DEFENSE (COMPTROLLER) SUBJECT: Summary Audit Report on Financial Reporting of Government Property in the Custody of... Financial Officers Act of 1990 requirement for financial statement audits. We considered the management comments received in preparing this report . The
Full Text Available Business of companies in terms of financial instability and market uncertainty can lead to a significant increase in bankruptcy risk and the risk of financial statements manipulation. A creative accounting practice has led many companies in the world to bankruptcy. Creative accounting means all accounting practices that deliberately deviate from the standardized ones, in order for the external users to be presented with the desired, not the actual yield and the financial strength of the company. Numerous corporate accounting scandals were the cause for initiatives to strengthen the protection of shareholders and all other interested users of financial statements (investors, creditors, tax authorities, etc. from manipulative financial reporting in countries around the world. In such circumstances, responsibility for the detection and prevention of possible manipulation with the data presented in the financial statements have: external and forensic audit, internal control and management of the company, accountants - forensics and state.
Full Text Available The first part of this paper analyses the regulatory framework for international trade in financial services within the auspices of the World Trade Organization (WTO, with special attention paid to the open issues including the scope of prudential measures and capital mobility limitations. The process of the international integration of the South Eastern Europe (SEE countries is mainly dictated by their goal of EU integration. With regard to the services' sectors, a major liberalization step on the way is WTO accession. Of the countries in the region only Serbia, Bosnia and Herzegovina and Montenegro are still not WTO members and in order to become members significant liberalization commitments will be demanded of them. For this reason the second part of the paper deals with concrete financial liberalization commitments undertaken by the original WTO members in SEE and the newly WTO acceded SEE member countries. The last part of the paper provides a quantitative analysis of these commitments by means of the measurement of liberalization indices in the banking sectors in SEE countries. This is to provide a general idea of the scope of liberalization that may be required from a SEE country in order to achieve WTO membership on the road to EU integration.
.... The DoD Agency Wide financial statements include financial statements for a reporting entity called "Other Defense Organizations," a consolidation of financial information from various Defense...
.... BUMED must comply with financial reporting reform mandates from Congress and other federal agencies, while simultaneously optimizing the use of its financial systems to improve financial management processes...
Presented is the 2009 Chief Financial Officer's Annual Report. The data included in this report has been compiled from the Budget Office, the Controller, Procurement and Property Management and the Sponsored Projects Office.
2015 included: 1) New economic assumptions due to the Federal Accounting Standards Advisory Board (FASAB) financial reporting Statement of Federal... statements and supporting footnotes are compiled from the underlying financial data and trial balances. The underlying data for the MRF is largely derived...change in the interest rate may cause other assumptions to change as well. For the September 30, 2015, financial statement valuation, the
Nguyen, Oanh Kieu; Halm, Ethan A.; Makam, Anil N.
Background Hospitals that have robust financial performance may have improved publicly reported outcomes. Objectives To assess the relationship between hospital financial performance and publicly reported outcomes of care, and to assess whether improved outcome metrics affect subsequent hospital financial performance. Design Observational cohort study. Setting And Patients Hospital financial data from the Office of Statewide Health Planning and Development in California in 2008 and 2012 were linked to data from the Centers for Medicare and Medicaid Services Hospital Compare website. Measurements Hospital financial performance was measured by net revenue by operations, operating margin, and total margin. Outcomes were 30-day risk-standardized mortality and readmission rates for acute myocardial infarction (AMI), congestive heart failure (CHF), and pneumonia (PNA). Results Among 279 hospitals, there was no consistent relationship between measures of financial performance in 2008 and publicly reported outcomes from 2008 to 2011 for AMI and PNA. However, improved hospital financial performance (by any of the 3 measures) was associated with a modest increase in CHF mortality rates (ie, 0.26% increase in CHF mortality rate for every 10% increase in operating margin [95% confidence interval: 0.07%-0.45%]). Conversely, there were no significant associations between outcomes from 2008 to 2011 and subsequent financial performance in 2012 (P > 0.05 for all). Conclusions Robust financial performance is not associated with improved publicly reported outcomes for AMI, CHF, and PNA. Financial incentives in addition to public reporting, such as readmissions penalties, may help motivate hospitals with robust financial performance to further improve publicly reported outcomes. Reassuringly, improved mortality and readmission rates do not necessarily lead to loss of revenue. PMID:26929094
Nguyen, Oanh Kieu; Halm, Ethan A; Makam, Anil N
Hospitals that have robust financial performance may have improved publicly reported outcomes. To assess the relationship between hospital financial performance and publicly reported outcomes of care, and to assess whether improved outcome metrics affect subsequent hospital financial performance. Observational cohort study. Hospital financial data from the Office of Statewide Health Planning and Development in California in 2008 and 2012 were linked to data from the Centers for Medicare and Medicaid Services Hospital Compare website. Hospital financial performance was measured by net revenue by operations, operating margin, and total margin. Outcomes were 30-day risk-standardized mortality and readmission rates for acute myocardial infarction (AMI), congestive heart failure (CHF), and pneumonia (PNA). Among 279 hospitals, there was no consistent relationship between measures of financial performance in 2008 and publicly reported outcomes from 2008 to 2011 for AMI and PNA. However, improved hospital financial performance (by any of the 3 measures) was associated with a modest increase in CHF mortality rates (ie, 0.26% increase in CHF mortality rate for every 10% increase in operating margin [95% confidence interval: 0.07%-0.45%]). Conversely, there were no significant associations between outcomes from 2008 to 2011 and subsequent financial performance in 2012 (P > 0.05 for all). Robust financial performance is not associated with improved publicly reported outcomes for AMI, CHF, and PNA. Financial incentives in addition to public reporting, such as readmissions penalties, may help motivate hospitals with robust financial performance to further improve publicly reported outcomes. Reassuringly, improved mortality and readmission rates do not necessarily lead to loss of revenue. Journal of Hospital Medicine 2016;11:481-488. © 2016 Society of Hospital Medicine. © 2016 Society of Hospital Medicine.
Full Text Available Due to the increased interest for sustainability issues, entities that operate in the areas agriculture, forestry and fishery are exposed to a variety of ecological challenges. Moreover, such fields are generally of strategic importance for a country’s economy, which also increases their exposure to public debate. The present study aims to provide a detailed and accurate description of the financial and non-financial information made available by listed Romanian entities operating in agriculture, forestry and fishery. The research goes beyond the mere description of the content of shareholders’ reports. Its purpose is to assess the financial performance and stability of selected companies and to investigate the relationships between the financial well-being of such companies and the extent to which they disclose non-financial information. The sample consists of companies which operate in the business of fields agriculture, forestry or fishery and are listed at the Bucharest Stock Exchange in Romania.
After some introductory texts proposed by several IRSN head managers, and a brief presentation of some key data illustrating the activity, the annual report presents the main strategic orientations, notably in the field of knowledge management, and of information and communication. After some images illustrating the past year, activities are presented. They first deal with safety: Reactor safety (operating experience feedback), From decommissioning old reactors to designing those of the future, Safety of laboratories and plants, Safety regarding risks due to infrastructure near nuclear facilities, Reactor aging, Fuel: research on corrosion and deformation, Research and assessments for improved understanding of accident situations, Earthquakes: research and assessments, About defense, Geological disposal of radioactive waste. They secondly deal with security and non-proliferation (nuclear security, nuclear non-proliferation, chemical weapon ban), thirdly with radiation protection for human and environment health (environment monitoring, radionuclide transfer in the environment, radon and polluted sites, human exposure, radiation protection in the workplace, effects of low-dose chronic exposures, Organization of radiation protection at the European level, protection in health care), and fourthly with emergency and post-accident situations (emergency and post-accident preparedness and response, Emergency response tools). The next part of the activity report addresses issues related to efficiency: Real estate program (construction projects get started), Hygiene, safety, social responsibility, Human resources, Organization chart, Board of directors, Steering committee for the nuclear defense expertise Division - CODEND, Scientific council, Ethics commission composition, Nuclear safety and radiation protection Research policy committee - COR. The financial report proposes a management report, financial statements with an appendix to annual accounts, and an auditor
Allen, Richard H.
A companion document to the three-volume "Higher Education Finance Manual," which is intended to guide those completing the Higher Education General Information Survey (HEGIS) Financial Statistics of Institutions of Higher Education, is presented. While it is based on the data required for 1978-79, the guide can provide guidance in…
The purpose of this report is to show the main characteristics of the international standard on auditing 800. ISA 800 explains requirements by making a report on financial statements prepared in accordance with another comprehensive basis of accounting, on a component of financial statements, on compliance with contractual agreements or reports on summarized financial statements.
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.
The EDF Group is an integrated energy utility active in all areas of the electricity market: nuclear, renewable and fossil fuel energy generation, transmission, distribution and marketing, energy efficiency and management services, as well as energy trading. It is the leading player in the French electricity market, and holds strong positions in Europe (UK, Italy, Central and Eastern Europe) that make it one of the world's leading electricity utilities and a renowned player in the gas industry. With a net installed capacity of 140.4 GWe worldwide at 31 December 2013 and global production of 653.9 TWh, the Group ranks among the world's leading energy utilities, with the biggest fleet emitting the least amount of CO 2 per kilowatt-hour generated 2 thanks to the proportion of nuclear, hydropower and other renewable energies in its generation mix. The EDF Group supplies electricity, gas and related services to more than 39.1 million customer accounts 3 worldwide (nearly 28.5 million in France). The Group's activities reflect the choice of a model balanced between France and international markets, spanning competitive and regulated operations and based on upstream-downstream integration. In 2013, the Group recorded consolidated revenue of euros 75.6 billion, operating profit before depreciation and amortisation of euros 16.8 billion and net income excluding non-recurring items of euros 4.1 billion. This document is EDF Group's Reference Document and Annual Financial Report for the year 2013. It contains information about: the Group activities, Organisational charts, Property, plant and equipment, Operating and financial data, Cash flows and capital, Research and development, patents and licenses, Information on trends, Financial outlook, Administrative, management and supervisory bodies and Executive Management, Compensation and benefits, Functioning of administrative and management bodies, Employees - Human Resources, Major Shareholders, Related
The EDF Group is an integrated energy utility active in all areas of the electricity market: nuclear, renewable and fossil fuel energy generation, transmission, distribution and marketing, energy efficiency and management services, as well as energy trading. It is the leading player in the French electricity market, and holds strong positions in Europe (UK, Italy, Central and Eastern Europe) that make it one of the world's leading electricity utilities and a renowned player in the gas industry. With a net installed capacity of 139.5 GWe worldwide at 31 December 2012 (128.5 GWe in Europe), and global production of 642.6 TWh, the Group ranks among the world's leading energy utilities, with the biggest fleet emitting the least amount of CO 2 per kilowatt-hour generated 3 thanks to the proportion of nuclear, hydropower and other renewable energies in its generation mix. The EDF Group supplies electricity, gas and related services to more than 39.3 million customer accounts 4 worldwide (nearly 28.6 million in France). The Group's activities reflect the choice of a model balanced between France and international markets, spanning competitive and regulated operations and based on upstream-downstream integration. In 2012, the Group recorded consolidated revenue of euros 72.7 billion, operating profit before depreciation and amortisation of euros 16.1 billion and net income excluding non-recurring items of euros 4.2 billion. This document is EDF Group's Reference Document and Annual Financial Report for the year 2012. It contains information about: the Group activities, risk factors, Organisational charts, Property, plant and equipment, Operating and financial data, Cash flows and capital, Research and development, patents and licenses, Information on trends, Financial outlook, Administrative, management and supervisory bodies and Executive Management, Compensation and benefits, Functioning of administrative and management bodies, Employees - Human
The EDF group is an integrated energy company with a presence in a wide range of electricity-related businesses: nuclear, renewable and fossil-fuel fired energy production, transmission, distribution, marketing as well as energy management and efficiency services, along with energy trading. It is France's leading electricity operator and has a strong position in Europe (United Kingdom, Italy, countries in Central and Eastern Europe), making it one of the world's leading electrical providers as well as a recognized player in the gas industry. With a worldwide net installed capacity of 134.6 GWe as of 31 December 2011 (124.2 GWe in Europe) and global energy generation of 628.2 TWh, the Group has one of the largest generating capacities of all the major worldwide energy corporations with the lowest level of CO 2 emissions per KWh generated due to the proportion of nuclear, hydroelectric power and other renewable energies in its generation mix. The EDF group supplies electricity, gas and associated services to more than 37.7 million customer accounts worldwide (including nearly 27.9 million in France). The Group's businesses reflect its adoption of a model aimed at finding the best balance between French and international activities, competitive and regulated operations and based on an upstream-downstream integration. In 2011, the Group's consolidated sales revenues was 65.3 billion Euros, earnings before interest, tax, depreciation and amortization came to 14.8 billion Euros, and net income excluding non-recurring items stood at 3.5 billion Euros. This document is EDF Group's Reference Document and Annual Financial Report for the year 2012. It contains information about: the Group activities, risk factors, Investments, Business, Strategy, Organisational charts, Property, plant and equipment, Operating and financial review, Cash flows and capital, Research and development, patents and licenses, Information on trends, Financial outlook
Skeadas, Gus J.
A study was conducted to determine how well Illinois' 38 community college districts satisfied the needs of board members, creditors, investors, and tax payers for financial information. A list of 38 financial reporting requirements was developed from the requirements of the Illinois Community College Board (ICCB) and guidelines from the Audits of…
... accordance with Generally Accepted Accounting Principles (GAAP) as further defined by HUD in supplementary... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financial reporting requirements... URBAN DEVELOPMENT PUBLIC HOUSING ASSESSMENT SYSTEM PHAS Indicator #2: Financial Condition § 902.33...
Tanlamai, Uthai; Soongswang, Oranuj
Mixed visuals of numbers and graphs are available in various financial reports that demonstrate the financial status and risks of a firm. GWN (graphs with numbers) and TWG (table of numbers with graphs) were used as two alternative visuals derived from the actual data of two large public companies, one from food manufacturing industry (food) and…
Korol Svitlana Ya.
The article is aimed at developing the methodological foundations together with a scientific substantiation of the methodical recommendations for accounting and information provision of the non-financial reporting of enterprise. As a basis for this study have been taken recommendations by the Global Reporting Initiative. The indicators of non-financial report have been grouped with regard to their possible information provision. The article proves the possibility to use a single database to g...
Budacia Lucian Constantin Gabriel
Full Text Available Prevention and earlier detection of fraudulent financial reporting must start with the entity that prepares financial reports. Thus the first focus of the Sarbannes-Oxley Act’s recommendations is the public company. These recommendations, taken together, will improve a company's overall financial reporting process and increase the likelihood of preventing fraudulent financial reporting and detecting it earlier when it occurs. For some companies, implementing these recommendations will require little or even no change from current practices; for other companies, it will mean adding or improving a recommended practice. Whether it means adding or improving a practice, the benefits justify the costs. The Sarbanes-Oxley Act is a direct response to the recent scandals in the US corporate world. Governance, compliance, risks and internal controls are mounting concerns for almost all organizations. As the numbers of rules, regulations and contractual obligations steadily rise, management is growing more and more concerned about their exposure on day-to-day operational decisions!
The main objective of CReCER is to create greater awareness of the importance of sound financial reporting and auditing for the development of a well functioning market economy and of an efficient public sector, which in turn are the cornerstone for equitable and sustainable economic development, and to promote the adoption of international standards for corporate financial reporting and a...
Gerstetter, Christiane; Goerlach, Benjamin; Stoessel, Susanah; Ivanova, Maria; Cavalieri, Sandra; Tedsen, Elizabeth; Bar-On, Haran [Ecologic Institute, Berlin (Germany)
In the run-up to the Rio+20 summit, which takes place in June 2012, this study investigates the current system for financing international environmental governance (IEG). The current architecture for IEG finance consists of a growing number of bilateral and multilateral actors, funds and financial mechanisms which leads to incoherence, inefficiencies and extra burdens on recipient countries. The resulting intransparency is exerbated by the lack of a comprehensive system for tracking. Against this background, this study investigates the current state of the IEG funding system from a qualitative and - to a lesser degree - quantitative angle. Some of its flaws are discussed as are options for its improvement - all with a view to formulating recommendations for the Rio+20 summit.
Measurement in financial accounting has been the most discussed issue in recent decades. The last very important result of the convergence process between IFRS and U.S. GAAP was adopting IFRS 13 – Fair Value Measurement in May 2011. The objective of IFRS 13 is to unify the approaches to determining fair value under IFRSs. The aim of this paper is to offer a comprehensive evaluation of the pros and cons that this standard brings.
This half-year financial report contains statements on the objectives, prospects and growth areas for the AREVA group. It gives a view of the net worth, the financial position and the income of the company and all the companies included in consolidation. It presents the major events that occurred during the first six months of the fiscal year, of their effect on the financial statements and of the main transactions between related parties. It gives a description of the main risks and main uncertainties for the remaining six months of the financial year. Content: 1 - Half-year business report: Significant events, Summary data, Segment reporting, Backlog, Income statement, Review by division, Cash flow, Balance sheet items, Events subsequent to closing, Outlook; 2 - Statutory auditors' report on the financial information for the 2009 half-year - period January 1 to June 30, 2009: Condensed consolidated financial statements at June 30, 2009, Consolidated income statement, Consolidated comprehensive income, Consolidated balance sheet, Consolidated cash flow statement, Consolidated statement of changes in equity, Segment reporting, Notes to the consolidated financial statements for the period ending June 30, 2009
Full Text Available Purpose – Internet is a medium with applications that are used to streamline the communication process including the communication of financial statements to the parties concerned. This study examined the factors that affect the company's financial reporting on the internet property sector, real estate and building construction. These factors include firm size, leverage, profitability and liquidity of the financial reporting through the internet (IFR. Design/methodology/approach – Secondarydata were sourced from 53 samples of the company which listed in the Indonesia Stock Exchange in 2013. The study was conducted on Research data analysis using logistic regression analysis with dummy variables and t test (partial with significance level of 5%. Findings –The analysis found that only the size of companies that have effect on the financial reporting through the internet (internet financial reporting. However leverage, profitability, and liquidity do not explain the company choice to use IFR. Originalitas – This is one of the studies to examine the factors that influence the disclosure of financial statements on the Internet at property sector, real estate and building construction. The artikel provides a valuable contribution to researchers and practitioners to extends the understanding of IFR at property sector, real estate and building construction Keywords: Internet Financial Reporting, Firm Size, Leverage, Profitability, Liquidity, Voluntary Disclosure
Pieterse-Bloem, Mary; Eijffinger, Sylvester
textabstractIn this paper we analyse a chronicle of economic theory on international financial integration post-WWII to the present date. Our focus is on theories that have somehow quantify the state and speed of international financial integration. We are able to contrast and compare three distinct strands that have brought forward conditions for its measurement. It is shown that European unification provides much of the empirical testing ground for these measures of international financial ...
in Albania. Born in 1937. Graduate of Moscow Institute of International Relations. Worked for TASS starting in: 1968 , Was editor for the European...deputy chairman of the USSR Committee of Youth Organizations; chief of the international administration, " Olimpiada - 80" Organizing Committee; chief...Syrian border. As a result of conducting a racist policy of exterminating or expelling the Palestinian Arabs, Israel by 1968 (i.e., within two
Warren, David R; Bianco, Michael A; Nasser, Waheed; Kusman, Richard R; Shafer, James; Venner, Jason; Walls, Lovell Q; Wright, Samson J
.... The objective of this report was to determine the extent to which federal agencies have systematically captured financial data for private security services in Iraq since 2003, and to identify...
Korol Svitlana Ya.
Full Text Available The article is aimed at developing the methodological foundations together with a scientific substantiation of the methodical recommendations for accounting and information provision of the non-financial reporting of enterprise. As a basis for this study have been taken recommendations by the Global Reporting Initiative. The indicators of non-financial report have been grouped with regard to their possible information provision. The article proves the possibility to use a single database to generate both financial and non-financial reporting based on the identification of the common accounting objects, formating a unified system of quantitative and qualitative characteristics. The expediency of using the faceted classification of accounts for organization of analytical accounting has been substantiated. New approaches to registration of both quantitative and qualitative data about facts of economic life of a socially responsible enterprise have been suggested, which make use of different algorithms for simple recording to odd and even accounts.
Subject areas include: design of financial reporting systems; general accounting techniques in oil and gas industries; current cost evaluation; reserve measurement; transfer pricing; profitability measurement; comparability with FRS data; and field auditing. (GHT)
Full Text Available To prevent investment growth in 2013 to 2015 from decreasing, the Industrial Ministry provided fiscal incentives to stimulate investment-growth. Nevertheless, the investment growth of manufacturing firms still declined. This condition indicated that fiscal stimulus might be ineffective to prevent investment-growth from declining. The decline of investment might be influenced by the increase of firm financial constraints to access a source of long term debts. This study aimed to examine the influence of financial constraints in moderating the effect of financing decisions from internal financing sources on investment. The population of the study was all listed-manufacturing firms in Indonesia from 2013 to 2015. Samples were chosen based on the availability of firms’ financial report covering the period of the study. The study concluded that financial constraints significantly weaken the effect of internal funding decision on investment. Unconstrained firms had a higher beta than constrained firms. Although unconstrained firms had an opportunity to choose their source of funding, they preferred to finance their investment from cash flows because the cost of debts might be much higher than the cost of equity.Hence, to help firms to finance their feasible investment opportunity, the government should not only provide tax incentives but also provide a low-interest loan.
The EDF Group is the world's leading electricity company and very well established in Europe. Its business covers all electricity-related activities, from generation to networks and commerce. It is an important player in energy trading through EDF trading. This document is EDF Group's Reference Document and Annual Financial Report for the year 2014. It contains information about Group profile, governance, business, investments, property, plant and equipment, management, financial position, human resources, shareholders, etc. The document includes the half-year financial report
Full Text Available Financial reporting represents a current issue of economic environment, given globalization and the recent economic crisis. Accounting -as profession - along with the investors and state institutions have started a comprehensive project of accounting convergence designed to improve the comparability of accounting information released by financial statements synthesis. The success of the project can only be provided by taking into account several constraints imposed by the economic environment, and not only. Therefore, attention must be paid to the voice of capital markets and large multinational corporations regarding the future development of financial reporting.
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...
This is the first in a series of reports from our audit of the Property, Plant, and Equipment Accounts in the FY 1996 Financial Statements of the...Transportation Command’s $4 billion in expected revenue. In the beginning balance for FY 1996 Defense Business Operations Fund financial statements, the Air...Mobility Command reported $ 1.1 billion of Property, Plant, and Equipment. The objective of this part of the audit was to determine whether the Air
Mamić Sačer, Ivana; Smrekar, Nikolina; Žager, Katarina
Small and medium-sized enterprises form a dominant part of the overall economy in most countries, both in developed and in transition or developing countries. Consequently, as a result of globalisation and the increasing role played by small and medium-sized enterprises, the need for harmonisation and standardisation of financial reporting is of particular importance for this segment of entrepreneurship. This paper focuses on financial reporting of small and medium-sized enterprises under the...
Full Text Available The paper presents the assessment of the development of integrated reports overseas and describes the stages of establishment of such a system. The form and structure of corporate reporting is developed, and is differentiated, reflecting the integrated information regarding aspects of financial and non-financial activity: statistical indicators, economical, financial and social, company strategy, future cash flows, the value of human capital, and the stability of the business model. Goals and objectives of corporate reports are determined, which consist in providing reliable information on all company activities in accordance with strategic objectives and management models. The structure of the integrated report takes into consideration the requirements of the management system, of the legislative bodies and other institutions, and is considered the basis for the development of branch reports models. Its structure will depend on the size of the legal-organizational form and the social value of the company in society. The author of the article suggests three approaches to achieving corporate reports in the section of social responsibility indicators; where each company chooses the form of reporting in accordance with the available categories that depend on the size and strategic policy. The suggested integrated reports are instrumental to the observance of the stable development doctrines and will become a tool that, in the near future, will ensure the company an effective interaction with financial markets and the stakeholders of market relations.
Full Text Available The paper presents the assessment of the development of integrated reports overseas and describes the stages of establishment of such a system. The form and structure of corporate reporting is developed, and is differentiated, reflecting the integrated information regarding aspects of financial and non-financial activity: statistical indicators, economical, financial and social, company strategy, future cash flows, the value of human capital, and the stability of the business model. Goals and objectives of corporate reports are determined, which consist in providing reliable information on all company activities in accordance with strategic objectives and management models.The structure of the integrated report takes into consideration the requirements of the management system, of the legislative bodies and other institutions, and is considered the basis for the development of branch reports models. Its structure will depend on the size of the legal-organizational form and the social value of the company in society. The author of the article suggests three approaches to achieving corporate reports in the section of social responsibility indicators; where each company chooses the form of reporting in accordance with the available categories that depend on the size and strategic policy. The suggested integrated reports are instrumental to the observance of the stable development doctrines and will become a tool that, in the near future, will ensure the company an effective interaction with financial markets and the stakeholders of market relations.
Full Text Available There has always been a dilemma whether financial statements are a reflection of the real situation. When financial statements are subject to various conveniences in order to be presented according to the wish of the purchaser, it leads us to the dilemma when and how this happens. This thesis deals with the attempt to start to solve the dilemmas where and when manipulative actions in financial reporting occur. We have carried out researches on selected samples of money losing companies for the period from 2010 to 2013, on the example of financial indicators of the companies which operated in Serbia. Detection of manipulations by means of which loss is hidden in financial statements is very important for the state economy. Under these conditions, development of an adequate method in this area is limited with the international standards of financial reporting. Numerous qualitative and quantitative methods have been used for evaluation of the real and objective components of losses in order to reflect the level of losses in the economy much better. However, in our conditions, there is an universally accepted method which can foresee and evaluate all events and actions that detect hidden losses in financial statements. This thesis presents methods of evaluation (quantitative and qualitative data mining and how they may be applied in detection of hidden losses in financial statements, by trying to identify a combination of methods which satisfies real needs of a certain task best.
Igor O. Jusko
Full Text Available The article describes the factors forming a new financial infrastructure. Studied the key factors of the international competitiveness of banks in the conditions of formation of a new financial infrastructure. The effect of strengthening macro-prudential banking supervision, the wide use of information and technology innovation, financial innovation on the formation of a new financial infrastructure, which has implications for the international competitiveness of banks in the global financial market. On the basis of generalization of modern theoretical developments are designed integral competitiveness indicators of the banks that have a high cross-jurisdictional activity. Particular attention is paid to the effectiveness of bank management.
Full Text Available Abstrak : Penerapan Internet Financial Reporting untuk Meningkatkan Akuntabilitas Organisasi Pengelola Zakat. Penelitian ini bertujuan melihat penerapan akuntabilitas pada Organisasi Pengelola Zakat (OPZ di Indonesia. Penerapan akuntabilitas dilihat dari pelaporan keuangan dan pengungkapan laporan keuangan. Jenis penelitian adalah penelitian kualitatif. Penelitian ini menggunakan analisis konten sebagai metode. Hasil penelitian menunjukkan dari 19 OPZ yang ada di Indonesia, hanya satu badan yang menerapkan pelaporan keuangan melalui internet. Akuntabilitas Islam dari OPZ dapat dikatakan masih rendah. Penelitian ini memberikan rekomendasi kepada pemerintah untuk memperkuat peraturan pelaporan keuangan oleh OPZ. Absract: The Implementation of Internet Financial Reporting to Increase the Accountability of Zakat Management Organization. The purpose of this study is to examine the application of accountability in the Zakat Management Organization (ZMO in Indonesia. The implementation of accountability is viewed by financial reporting and the disclosure of financial statements. This research is qualitative approach. This research uses content analysis as a method. This research has a result that from 19 ZMO in Indonesia, only one entity that implements internet financial reporting. The Islamic accountability of ZMO is still low. This reseacrh recommends the government to strengthen financial reporting regulations by ZMO.
Full Text Available The International Accounting Standards Board (IASB in its objectives and preamble, presume that IFRS adoption and perceived compliance to regulatory framework is associated with increased financial reporting quality. Based on these assumptions, this desktop study reviewed several documents to determine whether the IFRS adoption has led to increased financial reporting quality in Zimbabwe. The researchers reviewed literature on how the IAS/IFRS and regulations affect the financial reporting quality of listed companies. The factors around IFRS adoption were identified (mandatory, voluntary and convergence and discussed in relation to the financial reporting quality. Evidence from previous studies conducted in line with this same issue shows that there is no conclusive evidence on how IFRS and regulations affect the financial reporting quality. Issues to be addressed in further studies include the importance of financial statements prepared under IFRS framework and the importance of compliance with accounting and auditing requirements
K. Muheki, Mark; Lueg, Klarissa; Lueg, Rainer
Challenging times, such as the recent financial crisis, appear to cause organizations to change their business reporting. Yet, there is not much evidence how changes in business reporting were enacted by banks and there is only little discussion about to what extent this can be seen and assessed...... as crisis communication. Using a comparative case study of two U.S. banks, we investigate how their way to report financial performance changed during the ‘troubled times.’ The investigation uses annual reports that cover years before and during the financial crisis. Our findings suggest that the two banks...... have substantially changed their business reporting due to new regulations, the unfavorable economic situation, as well as strategic challenges like a loss in customer satisfaction. We thus conclude that business reporting can be seen—at least temporarily—as a tool for crisis communication. We document...
This monthly publication provides current data on international oil production, demand, imports, exports, and stocks. Section 1 contains time series data on world oil production, and on oil demand and stocks in the OECD. Section 2 presents an oil supply/demand balance for the world. Section 3 presents data on oil imports by OECD countries. Section 4 presents annual time series data on world oil production and oil stocks, demand, and trade in OECD countries.
prepared to support their verbal condemnation of international terrorism with practical steps, but stood in the way not only of the development but also of...Crisis and Perspectives], Moscow, Ediciones Cultura Hispanica, September 1984, 255 pp] [Text] In foreign economic literature devoted to Latin America...States the Saudis then participated in the secret opera- tion to help the ’Contras.’" What, then, can explain the fact that Riyadh, while verbally
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...
... Contents of Public Reports § 2634.308 Reporting periods and contents of public financial disclosure reports... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Reporting periods and contents of public financial disclosure reports. 2634.308 Section 2634.308 Administrative Personnel OFFICE OF GOVERNMENT ETHICS...
Office 2004 Test Drive User
Jun 30, 2013 ... 11 Statement of Management Responsibility. 13 Condensed Interim ... the financial results and corporate updates of the International Development Research Centre. (IDRC, the Centre) for .... The level of working capital at 30 June 2013 increased to $16.7 million compared to $6.9 million at 31 March 2013.
Thompson, Peter A
Herman and Chomsky’s Propaganda Model (PM) has emphasized how the various ‘filters’ can lead to news reports misrepresenting the vested political and economic interests that underpin US foreign policy. However, there has been relatively little attention paid to the implications of the PM for media operations in another key dimension of capitalism: financial markets. Traders require timely and accurate information about changing market conditions. However, financial news announcements influenc...
Staszkiewicz, Piotr W.
Author challenges one of the oldest accounting double bookkeeping rules, used since 1494, and proposes instead application of the quadruple accounting entry. He presents the concept of the multiply accounting entry for the risk financial statements and risk management. The development gap concept is described and introduces a simplified entry and reporting example. Model is illustrated with a number of financial-risk statements and attributes including the journal entries. The potential co...
This report gathers information and comments about the French electric utility EDF, persons in charge of this document, account legal auditors, risk factors, activities in France and abroad, the company's organization and flowchart, its estate properties, its financial situation and results, its accounts and capitals, its research and development activities, patents and licenses, trends, financial perspectives, its administration, management and control bodies and their operation, its salaries, shareholders
Ranked as one of top ten technologies for accounting and auditing professionals, eXtensible Business Reporting Language (XBRL) is a freely available, open, and global standard language for exchanging business financial information digitally. XBRL holds the greatest promise for building a global standard that is pledged to enhance the accuracy, reliability, efficiency, accessibility and availability of electronic communication of business financial data. This paper sets out to provide a review...
Jones, Christopher G.; Vedd, Rishma; Yoon, Sung Wook
The globalization of business has led to the adoption of International Financial Reporting Standards (IFRS) around the world. Recently, the Securities and Exchange Commission issued a roadmap for IFRS implementation starting in 2014, with earlier adoption permitted. Yet according to recent surveys, few U.S. universities have a strategy in place to…
Jun 30, 2017 ... IDRC funds practical research in developing countries to increase prosperity and security, and to foster democracy and the rule of law, in support of Canada's international development efforts. We promote growth and development and encourage sharing knowledge with policymakers, other researchers ...
In the recent period the reaction to these crisis consequences of globalization which formed the danger of deforming the structures and mechanisms of the international financial system being created during a long period and with great effort became among others the conceptions defined as an attempt to reform the world financial system or as an idea of the new international financial architecture. Judging by the essence of the origin and also by the character of the actions deciding about the ...
This Public Financial Management Performance Report (PFMPR) analyzes the performance of Colombia's public financial management (PFM) institutions, systems and processes. It documents areas where performance is close to or follows international good practice, as well as opportunities to further enhance PFM contribution to the goals of strengthening fiscal discipline, enabling more efficient...
M. Pieterse-Bloem (Mary); S.C.W. Eijffinger (Sylvester)
textabstractIn this paper we analyse a chronicle of economic theory on international financial integration post-WWII to the present date. Our focus is on theories that have somehow quantify the state and speed of international financial integration. We are able to contrast and compare three distinct
2007 was a year of progress and challenges for the Office of the Chief Financial Officer (OCFO). I believe that with the addition of a new Controller, the OCFO senior management team is stronger than ever. With the new Controller on board, the senior management team spent two intensive days updating our strategic plan for the next five years ending in 2012, while making sure that we continue to execute on our existing strategic initiatives. In 2007 the Budget Office, teaming with Human Resources, worked diligently with our colleagues on campus to reengineer the Multi-Location Appointment (MLA) process, making it easier for our Principal Investigators (PIs) to work simultaneously between the Laboratory and UC campuses. The hiring of a point-of-contact in Human Resources to administer the program will also make the process flow smoother. In order to increase our financial flexibility, the OCFO worked with the Department of Energy (DOE) to win approval to reduce the burden rates on research and development (R&D) subcontracts and Intra-University Transfers (IUT). The Budget Office also performed a 'return on investment' (ROI) analysis to secure UCRP funding for a much needed vocational rehabilitation counselor. This new counselor now works with employees who are on medical leave to ensure that they can return to work in a more timely fashion, or if not able to return, usher them through the various options available to them. Under the direction of the new Controller, PriceWaterhouse Coopers (PWC) performed their annual audit of the Laboratory's financial data and reported positive results. In partnership with the Financial Policy and Training Office, the Controller's Office also helped to launch self-assessments of some of our financial processes, including timekeeping and resource adjustments. These self assessments were conducted to promote efficiencies and mitigate risk. In some cases they provided assurance that our practices are sound, and in
Ruckert, Arne; Labonté, Ronald
In this article, we interrogate the policy response of the International Monetary Fund (IMF) to the global financial crisis, and discuss the likely global health implications, especially in low-income countries. In doing so, we ask if the IMF has meaningfully loosened its fiscal deficit targets in light of the economic challenges posed by the financial crisis and adjusted its macro-economic policy advice to this new reality; or has the rhetoric of counter-cyclical spending failed to translate into additional fiscal space for IMF loan-recipient countries, with negative health consequences? To answer these questions, we assess several post-crisis IMF lending agreements with countries requiring financial assistance, and draw upon recent academic studies and civil society reports examining policy conditionalities still being prescribed by the IMF. We also reference recent studies examining the health impacts of these conditionalities. We demonstrate that while the IMF has been somewhat more flexible in its crisis response than in previous episodes of financial upheaval, there has been no meaningful rethinking in the application of dominant neoliberal macro-economic policies. After showing some flexibility in the initial crisis response, the IMF is pushing for excessive contraction in most low and middle-income countries. We conclude that there remains a wide gap between the rhetoric and the reality of the IMF's policy and programming advice, with negative implications for global health.
Pasternak Maria M.
Full Text Available The article is aimed at generalizing the theoretical approaches to the structure and elements of the technique for analysis of the Financial results report (Cumulative income report and providing suggestions for its improvement. The current methods have been analyzed, relevance of the application of a common technique for such analysis has been substantiated. A common technique for analyzing the Financial results report has been proposed, which includes definition of the objectives and tasks of analysis, subjects and objects of analysis, sources of its information. Stages of such an analysis were allocated and described. The findings of the article can be used to theoretically substantiate and to practically develop a technique for analyzing the Financial results report in the branches of Ukrainian economy.
Full Text Available This research aims to study the market response to the aggressiveness of financial reporting and tax reporting conducted by the company. Investor’s response is reflected in the market value of the company's stock. This study is an explanatory research using quantitative approach. Research’s sample is a manufacturing company listed on the Indonesian stock exchanges from 2005 to 2015. The data were analyzed using multiple regression analysis. The data show that majority of sample companies’ fall into the category of middle tax aggressiveness. Research’s findings are both aggressive financial reporting and tax aggressiveness has a negative relationship with the market value of the company. However, only aggressive financial reporting that has a significant influence on the firm value. Based on these results it is concluded that tax aggressiveness does not directly affect the market in making decisions to assess the company's stock.
Full Text Available This paper analysis the effect of reporting quality on financing and investment. It is important for us to understand the relation among them in order to prepare Indonesian companies for ASEAN Economic Community in 2015. The study examines the effect of financial reporting quality on financing and investment of 15 Indonesian companies with large market capitalization based on the Standard and Poor’s Rating Services in its first survey of the major corporate credit trends in the Association of Southeast Asian Nations (ASEAN. Those companies may still be under-investing in relation to its regional peers. The results suggest that (1 financial reporting quality has negative effect on financing. (2 financial reporting quality has positive effect on investment among companies with higher likelihood of over-investing and negative effect on investment among those with higher likelihood of under-investing.DOI: 10.15408/etk.v16i1.4600
M. Koning (Miriam)
markdownabstract__Abstract__ Financial reporting is the process of disclosing financial information about a company to external users. This dissertation investigates three different parties involved in the environment of financial reporting: the media, regulators and auditors. The media, or
Dikan Larysa V.
Full Text Available The article considers modern directions of reformation of the system of state financial control connected with introduction of the state internal financial control. It considers economic essence of the state internal financial control in the context of its components. It justifies the place of the internal audit in the system of the state internal financial control in Ukraine. It considers existing definitions of internal audit in legislative acts. It generalises views of scientists on interpretation of the “internal audit” notion. It provides definitions united in approaches. It conducts a critical analysis of generalised approaches. It offers the authors’ view on the essence of internal audit in budget institutions, which has certain positive features compared to existing ones.
Districts, Waterways Experiment Station and Sallistic Missile Construction Office. The military accounting and reporting procedures were heretofore included in ER 35-345-10. The change in ER number is required by AK 310-1.
Full Text Available This study endeavors to estimate relationship between international financial integration and economic growth in India during 1981-2011. Apart from direct impact of international financial integration on growth, indirect impact (via financial development has also been studied empirically. Models of co-integration and Vector Error Correction Model (VECM have been applied to examine the relationships. The study observes that international financial integration affects the growth of the economy positively; and change in economic growth due to it through financial development is approximately 8.63 percent. The study also suggests that the structural reforms that took place in India in early nineties did not affect the existing relationship of global financial integration and economic growth significantly.
Archer, Simon; McLeay, Stuart
Two issues related to transnational financial reporting are examined: (1) the extent to which the professional registers of accounting and finance in different countries exhibit semantic equivalence, and (2) strategies of communications that are adopted in transnational reporting when straightforward mappings cannot be performed. (14 references)…
Szabó, Dániel Gergely; Sørensen, Karsten Engsig
The recently adopted Directive on non-financial reporting (Directive 2014/95/EU) and several CSR frameworks are based on the assumption that groups of undertakings adopt, report and implement one group policy. This is a very important but also rather unique approach to groups. This article first...
Tennessee Higher Education Commission, Nashville.
This manual provides a framework for accounting practices, budgeting and reporting procedures for Tennessee public higher education institutions. Emphasis is placed on principles and procedures of accounting and financial reporting; the balance sheet; statement of changes in fund balances; statement of current funds revenues, expenditures, and…
The role of an interim financial reporting is to allow the information users to acknowledge the activity of an entity on period shorter than financial exercise from the perspective of the available profits and cash flows generated as well as from the point of view of its financial position and liquidity. The interim financial reporting includes a complete or condensed set of financial statements which target to update the last financial reporting, usually the annual report. The interim financ...
After an interview of RTE's CEO, an overview of governance issues within the company, and a presentation of its business model, the activity report addresses the various aspects of RTE activities during 2014: grid expertise, a fair and balanced service, performance at the right price, cooperation between all players, a long term commitment, and perspectives. It also focuses on the corporate aspects: collective intelligence, workforce involvement, safety culture. The management report contains financial and legal information (significant events of 2014, economic environment, business and results, financing, financial structure, outlook for 2015, risk analysis), company information (employment, work organisation, labour relations, health and safety, training, diversity and equal opportunities, compliance with International Labour Organisation conventions), environmental information (general environmental policy, pollution and waste management, sustainable use of resources, climate change, protection and development of biodiversity), and societal information (local, economic and social impact of RTE's business, relations with people and organisations concerned by RTE's business, out-sourcing and suppliers, fair practices, other action to promote human rights). The third report presents the supervisory board (members and missions, operation, committees), the Executive Board (members and remuneration principles), the operation of general assemblies. It describes the internal control of RTE (organisation, actors), presents the policy of risk management and control, activities of audit and control within RTE. It finally presents external controls made by different public bodies
Full Text Available The objective of this research is to develop a financial system stability index and analyze the internal and external factors that we expect to affect the stability of the Indonesian financial system. We measured the single model of financial system stability index (FSSI from year 2004M03 to2014M09 in Indonesia, and compiled a single quantitative measure based on aggregate internal factors and external factors to capture and predict the shocks of the financial system stability. Stability parameters were composed of composite indicators on different bases. In addition, we developed a comprehensive index component associated with the relevant market conditions, including banking soundness index, financial vulnerability index, and regional economic climate index. Results stated that US economic growth and economic growth of ASEAN countries positively affected financial stability. In addition, current account, exchange rate, inflation, interest rate were shown to negatively affect financial stability. The results of this study imply that internal factors have a strong influence on the financial stability. Therefore, the central bank should give a fast and correct response to the changes of external and internal financial environment, especially for internal factors through monetary policy.
Larson, Gregg S; Carey, Cate; Grarup, Jesper; Hudson, Fleur; Sachi, Karen; Vjecha, Michael J; Gordin, Fred
Randomized clinical trials are widely recognized as essential to address worldwide clinical and public health research questions. However, their size and duration can overwhelm available public and private resources. To remain competitive in international research settings, advocates and practitioners of clinical trials must implement practices that reduce their cost. We identify approaches and practices for large, publicly funded, international trials that reduce cost without compromising data integrity and recommend an approach to cost reporting that permits comparison of clinical trials. We describe the organizational and financial characteristics of The International Network for Strategic Initiatives in Global HIV Trials, an infectious disease research network that conducts multiple, large, long-term, international trials, and examine challenges associated with simple and streamlined governance and an infrastructure and financial management model that is based on performance, transparency, and accountability. It is possible to reduce costs of participants' follow-up and not compromise clinical trial quality or integrity. The International Network for Strategic Initiatives in Global HIV Trials network has successfully completed three large HIV trials using cost-efficient practices that have not adversely affected investigator enthusiasm, accrual rates, loss-to-follow-up, adherence to the protocol, and completion of data collection. This experience is relevant to the conduct of large, publicly funded trials in other disease areas, particularly trials dependent on international collaborations. New approaches, or creative adaption of traditional clinical trial infrastructure and financial management tools, can render large, international clinical trials more cost-efficient by emphasizing structural simplicity, minimal up-front costs, payments for performance, and uniform algorithms and fees-for-service, irrespective of location. However, challenges remain. They
Full Text Available The paper presents the research in the field of internal supervision in financial reporting in the private sector of the Republic of Serbia. In the first part of the paper, legal regulations and current international regulations are compared. The aim of this study was to evaluate the achieved level of harmonization between the national and international regulatory framework in the field of financial reporting. The second part of the paper presents the analysis of the effect of the internal supervision in financial reporting on comparability of financial statements in terms of consistent application of the regulatory framework. The study aimed at examining whether internal supervision affects the comparability of financial statements. The methodology of the research that was used in the processing of data obtained through the questionnaire consisted of One-Factor Analysis of Variance, Pearson's correlation coefficient, and Spearman's and Kendall's rank correlation coefficient. The sample included 297 employees working on accounting and/or audit positions of the private sector of the Republic of Serbia. The results showed a (partial non-compliance of domicile regulations with EU regulations, i.e. that the national regulatory framework is not harmonized with international regulatory framework. In addition, the results indicated that the internal supervision, defined both in domicile and EU regulations, contributes to the comparability of financial statements in terms of consistent application of the regulatory framework.
Full Text Available Introduction. The main goal of changing accounting systems in different countries today is improving the quality of accounting information and achieving a high level of user confidence in accounting (financial reporting. However, the diversity of user needs is not the main reason why the problem of improving the quality of accounting and reporting data remains relevant. Purpose. Development of separate provisions of the theory of accounting in terms of ensuring high quality of accounting (financial reporting and development of practical recommendations for the assessment of the quality of the process of formation of accounting (financial reporting. Results. The article discloses the features of informational content of accounting (financial reporting in modern conditions. The comprehensive model of accounting information specifies the substantive content of the concept, the methodical approach to the assessment of the quality of accounting (financial reporting, taking into account the peculiarities of the organizational design of the quality management process for reporting and the peculiarities of the operation of the accounting and analytical system of the enterprise. The main identified problem areas are the formation of qualitative accounting (financial reporting. It is shown that the qualitative characteristics of accounting information and accounting (financial reporting can not be only within the framework of the work of the accounting system, but also must be lead by a set of factors that determine the end-user characteristics of accounting information. Conclusions. The internal content and essence of the abstract category “quality” are considered in detail, and it is demonstrated, as in the concretization of the subject, the conceptual design “quality of accounting (financial reporting” can be introduced. On the basis of the studies of Ukrainian and foreign scholars, eight areas are identified, which identify the main issues of
General purpose of financial statements is to satisfy the needs of users who are not in the position to require of the entity to prepare reports tailored to their particular information needs. Because the public is one of these users interested of social information and because the financial statement do not provide sufficient social information to satisfy these needs, the study demonstrate the need to integrate the responsible social reporting into financial reporting. In order to support th...
Full Text Available The global financial crisis dragged many countries into recession, demonstrated that the internationalfinancial system has structural problems and started discussions about restructuring of the international financialinstitutions. The main objective of this paper is to investigate the impact of the global financial crisis on thegovernance structures of the international financial institutions. To this end, studies made at different internationalplatforms were evaluated. The debates and negotiations among the developed and developing countries aboutgovernance structures of the international financial institutions were analyzed. Developing countries’ demand toreform the decision-making mechanisms of the Bretton Woods institutions, the IMF and the World Bank anddeveloped countries’ reservations were investigated. It was concluded that the new shape of the internationalfinancial architecture and governance structures of international financial institutions will depend on internationalpolitics as well as the evolution of the global crisis and the economic dynamics.
Alla Aleksandrovna Vasilenko
Full Text Available In the context of unsustainable economic development, the requirements that apply to reliability of financial reporting are growing steadily. From the auditor’s perspective it means actualization of the audit methodology problems which can be solved both at the level of financial reporting and the level of its assertions. The article examines the correlation between the audit stages and the usage of financial reporting assertions by auditor in the context of progressive audit. The author provides the results of the synthesis approaches of researchers to allocation and justification of the audit stages. The audit process consists of two directions: achieving the overall audit objectives and achieving the objectives at the level of individual segments. It is proposed to consider the four audit stages in accordance with International Standards on Auditing: 1 planning an audit; 2 audit procedures and audit evidence; 3 evaluation of misstatements identified during the audit; 4 forming an opinion in the audit report. It is established that financial reporting assertions are applied at the three of four audit stages. The analysis of standards on auditing has revealed strong relationship between the audit procedures and the financial reporting assertions. The links which are described in the article are implemented in the practice of auditing organizations by the development of audit documentation set for the various stages of audit. It allows to structure process of planning and performing audit procedures basing on the requirements of the international standards on auditing. As a result, the optimal conditions are created for expressing the opinion by auditor in his report regarding the reliability of the financial statements.
Juan Omar, Agüero
Full Text Available In this paper I present a governability or power technology form what I call financial governability that differs from the German ordoliberalism and the North American anacor-liberalism, analyzed by Michel Foucault. In which context does this form emerge from financial rationality?, how does it emerge and develop itself?, what meanings has it got for biopolítics and governability? And what implications happen from this transformation process of the human work in financial capital?, these are some of the matters that are discussed in this paper. As from the concepts of biopolítics and governability, I treat the theories of the policy of society and human capital, as foundations of the German ordoliberalism and the North American anarco-liberalism, respectively, later discussing the governability form which I call financial governability, as power technology differentiated from those.
Full Text Available This paper addresses the question whether adoption of International Financial Reporting Standards (IFRS is associated with low earnings management in unlisted companies in three European countries. Therefore, this paper investigates whether companies that have adopted IFRS voluntarily engage significantly less in earnings management compared to companies that have not adopted IFRS. Moreover, this study examines firm-specific incentives and their role in the adoption decision within different institutional settings. The distribution of earnings is analyzed to discover whether companies have managed their earnings. Logistic regression analysis is used to examine the firm-specific incentives. Empirical findings reveal that in sample of unlisted firms using IFRS the distribution of earnings is smoother. Thus, the results provide supporting evidence for the adoption of IFRS. Moreover, results of this study provide relatively good empirical support for statements that large unlisted firms with foreign owners and that are profitable are more likely to adopt IFRS voluntarily. However, the firm-specific incentives play different role in the adoption decision process in weak institutional settings compared to strong institutional settings.
... RITA 2008-0002] Agency Information Collection; Activity Under OMB Review; Report of Financial and... Desk Officer. SUPPLEMENTARY INFORMATION: OMB Approval No. 2138-0009 Title: Report of Financial and... financial condition reports or status reports on a particular airline, financial and traffic data are...
The purpose of this study is to investigate existence of chaos in crude oil markets (Brent and WTI) before and after recent 2008 international financial crisis. Largest Lyapunov exponent is estimated for prices, returns, and volatilities. The empirical results show strong evidence that chaos does not exist in prices and returns in both crude oil markets before and after international crisis. However, we find strong evidence of chaotic dynamics in both Brent and WTI volatilities after international financial crisis.
Full Text Available Developments in science, technology and sophisticated interconnected social networks increase the speed and volatility of the flow of economic-related energies, such as financial and intellectual capital. These developments require an information theory on corporate financial reporting that is stable at a fundamental level and focused on the disclosure of those systemic attributes that are pivotal to the sustenance of business entities operating in the global economy, or in economies with similar traits. The limited success in attaining stability is caused by, among others, the application of diverse, restricted and even opposing perspectives, resulting in random theoretical development, often unaligned with economic reality. The main aim of the article is to investigate whether the introduction of an underlying concept, principle or theorem, founded on the phenomenon of flow, to general- purpose corporate financial reporting theory could contribute to rendering stable guidance for coherent theoretical development while simultaneously enhancing alignment with the current global economy. As the study was conducted at conceptual level, a qualitative, transdisciplinary theoretical research methodology was applied by taking into account related basic concepts of philosophy, corporate financial reporting theory, economics, management accounting, physics and complexity. The study suggests that the conceptualisation of flow in general-purpose corporate financial reporting theory could contribute to rendering stable guidance for further coherent theoretical development, and improve on the alignment of the theory with the dynamics of the current global economy. This finding creates the opportunity to explore a variety of new reporting approaches from a scientific perspective, which could aid to enhance the disclosure of useful financial information.
Bonaci Carmen Giorgiana
Full Text Available Our paper analyzes the manner in which the financial reporting model evolved towards fair value accounting. After a brief introduction into the context of financial reporting at international level, the analysis focuses on the accounting model of fair value. This is done by synthesizing main studies in accounting research literature that analyze fair value accounting through a theoretical approach. The analysis being developed relies on literature review methodology. The main purpose of the developed analysis is to synthesize main pros and cons as being documented through accounting research literature. Our findings underline both the advantages and shortcomings of fair value accounting and of the recent mixed attribute in nowadays financial reporting practices. The concluding remarks synthesize the obtained results and possible future developments of our analysis.
Calu, Daniela Artemisa; Dumitru, Madalina; Glavan, Mariana Elena; Gușe, Raluca Gina
Financial and non-financial reporting concerns in various industries are current challenges. With respect to tourism – the case of amusement parks – the existing research is scarce. In this context, the objectives of our research are the following: (i) to identify and critically analyse the key financial and non-financial reporting frameworks applicable in tourism, and respectively (ii) to identify the general trend and specific features of the financial and non-financial reporting of compani...
the purposes of Audited Financial Statements (AFS), USTRANSCOM is included with the Other Defense Organizations reporting which is separate from the...basic financial statements appropriate to the circumstances for the purpose of expressing our opinion on the basic financial statements but not...consistent with the purposes authorized, and are recorded in accordance with Federal accounting standards. This statement also requires that financial