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Muhamad, Kawa W., Subhi M. Saleh, and Kees van Paridon. "Impact of Changes in Accounting Standards on Earnings Management." Koya University Journal of Humanities and Social Sciences 2, no. 2 (January 15, 2020): 166–75. http://dx.doi.org/10.14500/kujhss.v2n2y2019.pp166-175.
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This study considers the question whether the changes in Accounting Standards has led to companies making less use of earnings management. The paper is an attempt to investigate whether the application of high quality standards like International Financial Reporting Standards (IFRS) is related to high financial reporting quality. This study addresses this issue empirically. Furthermore, this research examines whether German companies that have applied IFRS have less earnings management compared to German companies that report according to the German Generally Accepted Accounting Principles (GGAAP). The sample, consisting of two equally large listed companies in Germany (Südzucker Group and Henkel Group) from 2003-2014. The study suggests that IFRS-adopters show different earnings management performance compared to companies reporting under German GAAP. This finding contributes to the discussion on whether high quality standards are appropriate and operational in countries with weak investor protection rights. The result shows that adopters of IFRS in Germany can be related with less use of earnings management as a result of changes in accounting standards. This result is contradictory with previous research that was done by Van Tendeloo and Vanstraelen, (2005), and consistent with the previous research conducted by Ball et al. (2003).
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Liu, Chunhui, Chun Yip Yuen, Lee J. Yao (posthumously), and Siew H. Chan. "Differences in earnings management between firms using US GAAP and IAS/IFRS." Review of Accounting and Finance 13, no. 2 (May 6, 2014): 134–55. http://dx.doi.org/10.1108/raf-10-2012-0098.
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Purpose – The purpose of this paper is to examine whether the relatively rules-based US Generally Accepted Accounting Principles (GAAP) and the more principles-based International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) provide different opportunities for earnings management (EM). Such an examination is critical as the world moves toward principles-based standards. Design/methodology/approach – Financial information for the fiscal years 1999-2004 from the annual reports of firms listed under the Prime Standard on the Germany Frankfurt Stock Exchange is analyzed. Data from the German Frankfurt Stock Exchange are used to resolve the difficulty in comparing accounting standards across different markets and countries with different institutional factors and corporate governance issues. The unique feature of dual listing in the German Frankfurt Stock Exchange allows firms listing shares under the Prime Standard to report in accordance with either the US GAAP or the IAS/IFRS before the IFRS adoption by the European Union in 2005. Strong legal enforcement in Germany ensures that reporting under each standard is in close compliance to the standard under comparison. Extending extant IFRS vs US GAAP EM research with discretionary accruals, this research contributes to a more comprehensive understanding by also examining EM through deferred tax expense and EM through research and development investment. Findings – The findings reveal that EM through research and development investment is significantly higher for the IAS/IFRS firms. Similar to prior findings, EM through accruals is not found to be significantly different between US GAAP and IAS/IFRS firms. Originality/value – The findings of this study advance the understanding of differences between US GAAP and IFRS with data from Germany where legal enforcement of standards is strong. In particular, this study reveals that principles-based standards with imprecise rules like IAS/IFRS may encourage structured management due to the expectation of error costs and compliance uncertainty. The results inform regulators considering IAS/IFRS adoption. In addition, this research highlights the importance of considering real EM in US GAAP vs IAS/IFRS studies.
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Antonenko, Nadiia. "COMPARATIVE CHARACTERISTICS OF DOMESTIC AND FOREIGN ACCOUNTING SYSTEMS ON THE EXAMPLE OF GERMANY." Scientific Notes of Ostroh Academy National University, "Economics" Series 1, no. 22(50) (September 29, 2021): 76–80. http://dx.doi.org/10.25264/2311-5149-2021-22(50)-76-80.
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The purpose of the article is to study the experience of reflecting accounting processes in the documents of companies of the Federal Republic of Germany (Germany), which is a basic element in building a harmonized accounting system with EU countries. To achieve the above goal, the authors set a task to compare the characteristics of accounting in Germany and Ukraine, to determine the features of development and construction of a modern accounting system in Germany, to formulate practical recommendations for improving accounting processes in Ukraine. The object of research is the process of accounting in Germany and Ukraine. The subject of the study are the principles and methods of accounting in these countries. As Germany stands out among the EU countries with a clear formalized approach to the application of statutory accounting and reporting standards, the experience of reflecting accounting processes in the documents of enterprises and companies of this country is important for building a harmonized accounting system in Ukraine. The German accounting system uses the principle of obligation, the essence of which is as follows: the direct basis for calculating tax payments are accounting accounts. In the organization of accounting in Germany automated form of its maintenance such as specialized accounting programs are mainly used. One such program is the SAP program. Given that the principles and methods of accounting used in Germany and Ukraine are almost the same, except for the principle of obligation used in Germany, it is recommended to implement SAP as an automated accounting system everywhere in large and medium-sized enterprises in Ukraine.
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Cussatt, Marc, Li Huang, and Troy J. Pollard. "Accounting Quality under U.S. GAAP versus IFRS: The Case of Germany." Journal of International Accounting Research 17, no. 3 (January 1, 2018): 21–41. http://dx.doi.org/10.2308/jiar-51997.
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ABSTRACT This study examines whether accounting quality changed for a diverse set of German firms that were required to switch accounting standards from U.S. Generally Accepted Accounting Principles (U.S. GAAP) to International Financial Reporting Standards (IFRS) (MANDATORY sample). Additionally, we utilize a control sample of German firms that report using IFRS during the entire sample period (CONTROL sample). In both the MANDATORY and CONTROL samples, we find evidence of decreased conditional conservatism, increased value relevance of earnings, and smoother earnings surrounding the mandatory IFRS adoption period. Further, we find no evidence that these changes in accounting quality proxies are significantly different between the MANDATORY and CONTROL samples. While we do not draw causal inferences, results are consistent with the notion that other concurrent changes within Germany, such as economic shocks or the changes in the institutional environment (e.g., enforcement system) documented in Christensen, Hail, and Leuz (2013), are driving the observed changes in accounting quality, rather than the transition from U.S. GAAP to IFRS.
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Colbe, Walther Busse von. "Relationships between financial accounting research, standards setting and practice in Germany." European Accounting Review 1, no. 1 (May 1992): 27–38. http://dx.doi.org/10.1080/09638189200000002.
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Patel, Chirag B. "Investor Perception of the International Accounting Standards Quality: Inferences from Germany." CFA Digest 42, no. 3 (August 2012): 85–87. http://dx.doi.org/10.2469/dig.v42.n3.74.
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Elston, Julie Ann, and J. Jimmy Yang. "Venture capital, ownership structure, accounting standards and IPO underpricing: Evidence from Germany." Journal of Economics and Business 62, no. 6 (November 2010): 517–36. http://dx.doi.org/10.1016/j.jeconbus.2010.08.003.
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Hung, Mingyi, and K. R. Subramanyam. "Financial statement effects of adopting international accounting standards: the case of Germany." Review of Accounting Studies 12, no. 4 (July 24, 2007): 623–57. http://dx.doi.org/10.1007/s11142-007-9049-9.
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Kaufhold, Gerrit. "Compatibility of the IFRS for Small and Medium-sized Entities and the new EU-Accounting Directive." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 63, no. 6 (2015): 1945–51. http://dx.doi.org/10.11118/actaun201563061945.
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The new EU-Accounting Directive of 26 June 2013 (DIRECTIVE 2013/34/EU) has the intention to harmonize the accounting and financial reporting of enterprises in the European Union. “Think small first” is the central principle in the new EU-Accounting Directive and the new regulations have to be adopted in the laws of European member states by 20 July 2015. The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) was published in 2009 by the International Accounting Standards Board (IASB). The IASB intended to create simplified international financial reporting standards for the special needs of smaller and medium-sized enterprise. The IASB completed in May 2015 a comprehensive review of the IFRS for SMEs and made amendments to the Standard. The revised version of the IFRS for SMEs will be issued in the last quarter of 2015. The aim of the paper is to analyze the compatibility of the IFRS for SMEs and the new EU- Accounting Directive and the problems in connection with the harmonization of the European accounting legislation especially in Germany. Based on the results of the research most of the former incompatibilities could be removed, but the remaining complexity of the IFRS for SMEs and the lack of an option for the member states to adopt the IFRS for SMEs as an accounting and reporting standard besides or instead their local accounting principles will prevent the wide use of the IFRS for SMEs in Germany and in other member states of the European Union.
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Franzen, Nina, and Barbara E. Weißenberger. "The adoption of IFRS 8 – no headway made? Evidence from segment reporting practices in Germany." Journal of Applied Accounting Research 16, no. 1 (May 11, 2015): 88–113. http://dx.doi.org/10.1108/jaar-05-2013-0037.
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Purpose – The purpose of this paper is to assess the changes in segment reporting practices of German listed firms under the new segment reporting standard IFRS 8. Design/methodology/approach – The authors compare hand-collected segment disclosures of German firms in the first IFRS 8 year with those reported in the last IAS 14R year. Findings – The authors do not find substantial changes in the segment disclosures of German firms under IFRS 8. While the number of reportable segments slightly increased, the amount of information disclosed for each reportable segment decreased. The same applies to geographic areas reported as secondary segments under IAS 14R compared to entity-wide disclosures under IFRS 8. Furthermore, even though more country-specific information was provided, many firms still disclosed only broad geographic areas. Research limitations/implications – Future research should extend the analysis to consider more than one year of data following IFRS 8’s adoption and to examine the impact of the standard on smaller firms. Moreover, investigating economic benefits for investors and other financial statement users following IFRS 8’s adoption could be an avenue for future research. Practical implications – The findings indicate that the International Accounting Standards Board’s (IASB) expectations regarding changes in segment reporting practices under IFRS 8 have only partially been met. The results also reveal some cases of segment reporting practice where compliance is at least questionable. Both findings are of interest to standard-setters and regulators. Originality/value – The paper provides new insights into the effects of IFRS 8’s adoption in Germany and thus contributes to the post-implementation review of IFRS 8 carried out by the IASB in 2012/2013. The study sheds light on the consequences of applying the “management approach” to segment reporting, thereby contributing to the theoretical discussion on the adequacy of the different concepts for disclosing segment information.
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Frey, Hannes, and Andreas Oehler. "Intangible assets in Germany." Journal of Applied Accounting Research 15, no. 2 (September 2, 2014): 235–48. http://dx.doi.org/10.1108/jaar-07-2014-0068.
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Purpose – Intangible assets are regarded as the future value drivers of company performance. However, hardly anything is known about the actual importance and influence of intangible assets. The purpose of this paper is to fill this gap, so the authors analyse the German stock market index DAX and accomplish a survey among the German Certified Public Accountants (CPAs) concerning intangible assets. Design/methodology/approach – In a first step, the authors analyse the balance sheet data and the corresponding notes of the companies with regard to reported values of intangible assets and applied valuation methods. The sample period covers the years from 2005 to 2008. In a second step, the authors analyse the statements of the German CPAs with regard to intangible assets. The authors sent a standardised questionnaire to all 180 offices of the top ten German auditing firms. Findings – The results indicate that intangible assets have gained in importance, while information on valuation methods is still scarce. According to the German CPAs, the current influence of intangible assets on company performance is on a high level and even will increase during the next few years. The mostly used valuation approach for the fair value measurement of patented technologies is the income approach. Furthermore, the accounting standards leave room for accounting policy – a result which casts doubt on the reliability of financial statements. Originality/value – For the first time not only annual balance sheet data but also corresponding notes regarding intangible assets are analysed. The findings are connected with a survey of an expert group for the valuation of intangibles.
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Schmidt, Matthias. "“Whistle Blowing” Regulation and Accounting Standards Enforcement in Germany and Europe—An Economic Perspective." International Review of Law and Economics 25, no. 2 (June 2005): 143–68. http://dx.doi.org/10.1016/j.irle.2005.06.001.
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Kajüter, Peter, and Moritz Schröder. "Cross-National Differences in Cost Accounting of MNEs: Empirical Evidence from Anglophone Subsidiaries in Germany." Journal of International Accounting Research 16, no. 2 (May 1, 2017): 71–100. http://dx.doi.org/10.2308/jiar-51792.
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ABSTRACT Anecdotal evidence shows that multinational enterprises (MNEs) encounter difficulty in imposing their cost-accounting standards internationally because foreign subsidiaries prefer to follow their local cost-accounting traditions. Although prior research has revealed cross-national differences in management accounting, particularly between anglophone and German-speaking countries, the determinants and consequences for cost-accounting systems in foreign subsidiaries of MNEs are largely unexplored. This study therefore investigates the design of cost-accounting systems in German subsidiaries of anglophone MNEs. The empirical results reveal that anglophone cost-accounting traditions prevail in two-thirds of anglophone subsidiaries. Based on new institutional sociology, this study explores the determinants and identifies strong coercive pressures by anglophone parent companies, suggesting that anglophone MNEs standardize their cost-accounting systems globally using their home country cost-accounting traditions. The results also show that both management accountants and managers in German subsidiaries of anglophone MNEs assess their cost-accounting system as worse when it is shaped by anglophone traditions. Managerial implications are discussed.
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Hellmann, Andreas, Hector Perera, and Chris Patel. "Contextual issues of the convergence of International Financial Reporting Standards: The case of Germany." Advances in Accounting 26, no. 1 (June 2010): 108–16. http://dx.doi.org/10.1016/j.adiac.2010.02.002.
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Thiemann, Matthias. "The impact of meta-standardization upon standards convergence: the case of the international accounting standard for off-balance-sheet financing." Business and Politics 16, no. 1 (April 2014): 79–112. http://dx.doi.org/10.1515/bap-2012-0011.
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Analyses of transnational governance formation point to the destabilizing effects transnational standard setters have upon national institutional configurations. Isomorphic pressures, it is argued, lead to the standardization of procedures used and actors involved in standard setting processes. What is not clear, however, is to what extent this meta-standardization increases the chances for convergence of national with transnational standards. This article explores this question for the case of the international accounting standard for off-balance-sheet financing in the Netherlands, France and Germany. It argues that the reconfiguration of domestic governance architectures had a decisive impact on convergence processes. Counter-intuitively, copying goals, membership and procedures of the transnational, private International Accounting Standards Committee limited the chances of rule convergence, as it threatened to deinstitutionalize the standard-setting role of an important national champion of rule-convergence, the banking regulator. The institutional template developed at the transnational level created actor-mismatch at the national level between those formulating and those implementing the rules, thereby weakening the coalition for rule change. A strong coalition, however, is needed to overcome vested business interests that favor convergence with transnational templates for legitimacy gains at the same time that they oppose convergence to contentious rules that limit their business activities.
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Haller, Axel, Jürgen Ernstberger, and Christian Kraus. "Extraterritorial impacts of the Sarbanes-Oxley Act on external corporate governance – current evidence from a German perspective." Corporate Ownership and Control 3, no. 3 (2006): 113–27. http://dx.doi.org/10.22495/cocv3i3p9.
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The Sarbanes-Oxley Act (SOX) has not only had tremendous impact on the U.S corporate governance system, but also on other countries with companies subject to SOX. The paper analyzes the major direct impacts of SOX on the European Union (EU) and Germany as a Member State. The focus of the analysis is on rules concerning external corporate governance instruments, i.e. the auditing professions’ oversight, auditors’ independence and auditing standards. Additionally, the paper investigates whether the contemporary regulatory activities in the EU and Germany concerning external corporate governance can be explained as indirect institutional consequences of SOX. Although the EU Commission says for the record that it has an own long-term strategy of modernizing corporate governance, the paper demonstrates that several rules of SOX quite obviously served as a model for the EU regulatory activities. The same phenomenon can be observed for the new German regulations of external corporate governance
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Weihrich, Dietmar. "Performance auditing in Germany concerning environmental issues." Sustainability Accounting, Management and Policy Journal 9, no. 1 (March 5, 2018): 29–42. http://dx.doi.org/10.1108/sampj-04-2017-0036.
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Purpose This paper aims to provide knowledge concerning performance auditing by examining the implementation in Germany. The text shows how the principles of performance auditing are implemented in Germany. The German approach is special because the international standards are not implemented in Germany, and there are neither any existing scientific studies nor any other literature concerning performance audit in Germany. Design/methodology/approach The study comprises a general discussion of the goals and boundaries of performance auditing with an environmental perspective based on a literature study. The text also describes the theoretical, legal and methodological background of performance audits in Germany. Findings concerning the status quo of performance auditing in Germany are based on an analysis of audits conducted by public audit institutions. The findings were compared with findings from other current international studies. Findings The sample of scrutinized audits conducted by the public audit institutions shows clearly that the provisions of the German Federal Budget Code had been fully implemented. In nearly every study, implications of economy, efficiency and effectiveness have been considered. Hence, even without any references to the international standards, the core principles of performance audit are considered in the audits conducted by the public audit institutions in Germany. The main focus in the audits had been placed on the efficiency and effectiveness. It is also very remarkable how far-reaching the findings of the audits in Germany are. Especially, in terms of scrutinized subsidy directives, the public audit institutions are not reducing their recommendations to the implementation of the granting-process but to the directives itself. Research limitations/implications The paper highlights a sample of studies which is limited in terms of quantity because it focused on audits related to environmental protection. Practical implications The study provides knowledge on how audits are conducted by public audit institutions in Germany. In doing so, it is particularly helpful for people dealing with public audits, especially in the government and the audit institutions. Social implications The paper examines the role of public audit institutions that contribute to a more efficient and an effective deployment of public expenditures. The goal is to avoid wasting public means by using it without causing positive effects. This is the basis for a socially just usage of public means. Originality/value The paper contributes to a better understanding of performance auditing in general. As there are no documented scientific studies or other papers concerning the implementation of performance audit in Germany, the paper is of high-innovatory value. The findings are very important to the further development of performance audit. In addition, by depicting the role of public audit institutions in Germany, it allows comparisons to the situation in other countries.
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Toudas, Kanellos. "The International Standards on Auditing as a convergence parameter between US GAAP and IFRS." Corporate Board role duties and composition 14, no. 3 (2018): 15–22. http://dx.doi.org/10.22495/cbv14i3art2.
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The present study involves the US GAAP and IFRS accounting frameworks, and how these are evaluated by accounting professionals in four (4) European countries, two of which have been severely impacted by the global economic crisis (Greece and Portugal) and two that remained relatively strong during the period of the European economic crisis (France and Germany). The main purpose of the study is to point out that the economy of a country does indeed affect the perception of listed companies towards a potential convergence. The issues that arise are of interest of the global accounting and auditing community, as well as this study. Academic literature has not shown much interest in recent years. In contrast, the professional bibliography is very rich and has greatly enhanced the bibliographic review. The results of the quantitative study reveal that there are differences between the factors affecting a potential convergence at a country level, as well as at an economy level. Stronger economies seem to pay more attention to economic and regulatory factors, and weaker economies seem more reluctant towards coordination and cooperation in order for the convergence to be achieved.
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Hitz, Jörg-Markus, Jürgen Ernstberger, and Michael Stich. "Enforcement of Accounting Standards in Europe: Capital-Market-Based Evidence for the Two-Tier Mechanism in Germany." European Accounting Review 21, no. 2 (June 2012): 253–81. http://dx.doi.org/10.1080/09638180.2011.641727.
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Misiuna, Jan. "Financing Political Parties in France, Germany and The United Kingdom." Kwartalnik Kolegium Ekonomiczno-Społecznego. Studia i Prace, no. 1 (November 27, 2016): 91–110. http://dx.doi.org/10.33119/kkessip.2016.1.4.
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The paper compares the systems of financing political parties in France, Germany and the UK. The analysis concentrates on effectiveness of collecting contributions, dependency on large donors for providing funds for financing election campaigns and daily operation of political parties, and the level of transparency of finances of political parties. The final conclusion is that only introducing limits on expenditures on election campaigns allows to keep the costs of election campaigns and political parties at a low level, while mandatory common accounting standards and public access to financial information is necessary to preserve transparency of finances of political parties.
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Euler, Dimitrij. "Standards on transparency of publicly listed corporations: Information owed to the public?" Corporate Ownership and Control 11, no. 3 (2014): 184–92. http://dx.doi.org/10.22495/cocv11i3c1p5.
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The paper is about domestic laws’ response to the greater need of publicly listed corporation to be accountable to the public in accordance with international law. The paper is dedicated to the transparency of multinational corporations listed and incorporated in Germany, the United Kingdom, the United States and Switzerland. Under these applicable laws, transparency of publicly listed corporations has significantly changed in the last decade. Some countries oblige corporations to disclose non-financial and financial information immediately; others merely require periodic reporting of financial information. In particular, the connection between Impact Investor, an investor that invests based on social or environmental criteria in addition to the financial performance, and the investment target, publicly listed corporations contributed to some change. The applicable law provides a minimum standard of transparency. This minimum standard defines how the reasonable investor invests in the publicly listed corporation. Depending on this standard, the responsibility owed by the publicly listed corporation extends from the shareholder, several stakeholders to the public. Reasons for these differences lie in the greater accountability of publicly listed corporations from shareholders, to stakeholders or even the public. The OECD’s different standard on Corporate Governance, the Ruggie principles and other recommendations of non-governmental organisations (NGO) keep shaping the accountability under the applicable law. These standards provide guidance to corporations to voluntarily implement greater responsibilities beyond the minimum standard in the form of Corporate Governance. However, once publicly listed corporations implement these standards, the applicable law seem to not adequately impose duties on publicly listed corporations to disclose the information under its self-imposed standard to stakeholders or even the public. The paper researches the problem of transparency of publicly listed corporations in European Union, in particular Germany and the United Kingdom, as well as the United States and Switzerland wither regard to impact investors. Its hypotheses is that the applicable law lacks clear wording that transfers voluntary standards into binding law. The paper will not focus on obligations of corporation established under contracts with groups of shareholders. It will also not focus on stock market programmes to audit corporations based on environmental and social criteria. The paper excludes inter partes obligations because they give the contracting party merely a right to rely on the disclosure. The paper will also not look at methods for evaluation of non-financial information with regard to publicly listed corporations.
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Albersmann, Benjamin Tobias, Christian Friedrich, Daniela Hohenfels, and Reiner Quick. "Goodwill impairment tests as a device for earnings management: Evidence from Germany." Corporate Ownership and Control 18, no. 1, Special Issue (2020): 261–80. http://dx.doi.org/10.22495/cocv18i1siart3.
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This study investigates whether goodwill impairments are influenced by earnings management incentives. It is motivated by the International Accounting Standards Board’s (IASB) post-implementation review on business combinations, the ongoing debate on the reliability of impairment testing, and the high practical relevance of this topic. The sample consists of 2,127 firm-year observations from German listed firms for the periods 2006 to 2013. The results show that the likelihood to recognize goodwill impairments and the magnitude of impairment losses are not only determined by economic and other relevant factors but also influenced by earnings management incentives like beating an earnings target, conservative smoothing, big bath accounting, changes in senior management, and the firms’ general earnings management behavior. Hence, goodwill impairment tests seem to be used by management as a device for earnings management. The results do not change over time, i.e., between the period before, during, and after the financial crisis.
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Perlińska, Monika. "Greenhouse gas emission rights in accounting – is a global benchmark needed?" Zeszyty Teoretyczne Rachunkowości 46, no. 4 (December 5, 2022): 93–113. http://dx.doi.org/10.5604/01.3001.0016.1304.
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Purpose: The aim of the article is to verify accounting methods used to map the essence and specifics of greenhouse gas emission rights trading in corporate financial reporting. Methodology/approach: A literature review and an analysis of national and international environmental regulations and accounting guidelines were conducted for the United States, Canada, New Zealand, China, Japan, Germany, Great Britain, France, and Poland. The EU market for trading greenhouse gas emission allowances and the efforts made by the International Accounting Standards Board are presented separately. Findings: There is a regulatory gap in the recognition, measurement and disclosure of greenhouse gas emission rights in the financial statements. So far, no environmental accounting regu-lation (standard) of international importance has been adopted, although few of the proposals from national environmental organizations differ between jurisdictions. Practical implications: There is a need to fill the identified regulatory gap and improve financial reporting by establishing consistent and uniform principles for recognizing, measuring and presenting greenhouse gas emission rights. Originality/value: The article emphasizes the importance of the accounting information system in providing a coherent picture of the achievements of economic entities (including environmental performance) and identifies challenges for the scientific discipline of accounting in relation to the development of greenhouse gas emissions trading around the world.
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Tarca, Ann, Richard D. Morris, and Melissa Moy. "An Investigation of the Relationship between Use of International Accounting Standards and Source of Company Finance in Germany." Abacus 49, no. 1 (October 16, 2012): 74–98. http://dx.doi.org/10.1111/j.1467-6281.2012.00373.x.
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Bornemann, Manfred, Kay Alwert, and Markus Will. "Lessons learned in intellectual capital management in Germany between 2000 and 2020 – History, applications, outlook." Journal of Intellectual Capital 22, no. 3 (February 24, 2021): 560–86. http://dx.doi.org/10.1108/jic-03-2020-0085.
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PurposeThis article reports on the background, the conceptual ideas and the lessons learned from over more than 20 years of IC Statements and Management with a country focus on Germany and some international developments. It calls for an integrated management approach for IC and offers case study evidence on how to accomplish this quest.Design/methodology/approachReport on the German initiative “Intellectual Capital Statement made in Germany” (ICS m.i.G.). A brief review of the literature describes the background and theoretical foundation of the German IC method. A short description of the method is followed by four detailed case studies to illustrate long-term impact of IC management in very different organizations. A discussion of Lessons Learned from more than 200 implementations and an outlook on current and future developments finalizes the article.FindingsIC Statements made in Germany (ICS m.i.G.) was successful in providing a framework to systematically identify IC, evaluate the status quo of IC relative to the strategic requirements, visualize interdependencies of IC, business processes and business results as well as to connect IC reporting with internal management routines and external communication. However, ICS is not an insulated method but delivers the maximum benefit when integrated with strategy development, strategy implementation, business process optimization accompanied by change management routines. Strong ties to human resource management, information technology departments, quality management, research and development teams as well as business operations as the core of an organization help to yield the most for ICS m.i.G. Over time, the focus of managing IC changes and maturity leads to deutero learning.Practical implicationsICS m.i.G. proved easy to apply, cost efficient for SMEs, larger corporations and networks. It helps to better accomplish their objectives and to adjust their business models. The guidelines in German and English as well as a software application released were downloaded more than 100,000 times. A certification process based on a three-tier training module is available and was successfully completed by more than 400 practitioners. ICS m.i.G. is supporting current standards of knowledge management, such as ISO 9001, ISO 30401 or DIN SPEC PAS 91443 and therefore will most likely have a continuing impact on knowledge-based value creation.Originality/valueThis paper reports lessons learned from the country-wide IC initiative in Germany over the last 20 years initiated and supported by the authors. Several elements of the method have been published over time, but so far no comprehensive view on Lessons Learned had been published.
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Rathke, Alex Augusto Timm, Verônica de Fátima Santana, Isabel Maria Estima Costa Lourenço, and Flávia Zóboli Dalmácio. "International Financial Reporting Standards and Earnings Management in Latin America." Revista de Administração Contemporânea 20, no. 3 (June 2016): 368–88. http://dx.doi.org/10.1590/1982-7849rac2016140035.
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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 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.
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Adam, Berit, Isabel Brusca, Eugenio Caperchione, Jens Heiling, Susana Margarida F. Jorge, and Francesca Manes Rossi. "Are higher education institutions in Europe preparing students for IPSAS?" International Journal of Public Sector Management 33, no. 2/3 (July 24, 2019): 363–78. http://dx.doi.org/10.1108/ijpsm-12-2018-0270.
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Purpose The purpose of this paper is to analyze whether higher education institutions (HEIs) in EU Member States are aware of the relevance of the ongoing reforms in public sector accounting (PSA) and the need to prepare their students to become expert professionals in that area. It particularly assesses whether these organizations currently provide, or will provide in the near future, education on International Public Sector Accounting Standard (IPSAS)/EPSAS, so that a sufficient number of graduates will be ready to match the foreseeable demand for experts in IPSAS/EPSAS. Design/methodology/approach Adopting a purposive sample, the paper compares the situation in four EU countries (Germany, Italy, Portugal and Spain). Data have been obtained through a questionnaire provided to selected professors in relevant HEIs in the selected countries. Findings HEIs are giving only limited room to PSA and financial management, with differences in terms of program offerings and coverage of topics among the four countries. Furthermore, in most cases, the programs are adapted to the national budgetary and accounting standards and courses are seldom focused on the IPSASs. Originality/value The paper contributes to the literature on PSA harmonization, through an innovative analysis of PSA and financial management teaching, both at national and international levels.
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Moya, Soledad, and Ester Oliveras. "Voluntary adoption of IFRS in Germany: A regulatory impact study." Corporate Ownership and Control 3, no. 3 (2006): 137–47. http://dx.doi.org/10.22495/cocv3i3p11.
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From 2005 onwards, consolidated financial statements of listed European companies have to comply with IFRS (IAS). Many German companies began adopting those standards in the 1990s, on a voluntary basis, because of their need to access international capital markets. A broader and more dispersed investor community could be achieved only by accepting significant regulatory consequences. The purpose of this paper is to analyse the financial impact of initial IFRS adoption on the statement of changes in equity and the income statement of German companies. Our analysis comprised all non-financial DAX groups applying IFRS plus additional listed companies in two selected industrial sectors. The two sectors are chemical pharmaceutical and fashion where, apart from the DAX companies quoted, we have studied other relevant companies in each sector. The analysis of the reconciliations of the retained earnings and income statement has been developed both from company and type-of-adjustment perspective, classifying items in similar accounting categories. The results are that the impact of initial adoption of IFRS was, both individually and overall, significant. In relation to the specific sectors analysed, impact is also relevant, although not as much as in DAX companies, but differs between the sectors.
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Schmidt, Carolin E. "The quest for affordable owner-occupied housing in Germany." Journal of European Real Estate Research 12, no. 3 (November 4, 2019): 365–79. http://dx.doi.org/10.1108/jerer-10-2018-0046.
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Purpose Even though housing prices in Germany are low by international standards, housing in urban areas has become less affordable. Since 2018, certain families aspiring to become homeowners may apply for a capital subsidy (Baukindergeld) that contributes to their down-payment. This paper analyzes whether this subsidy is an appropriate policy instrument to achieve the desired goals. Design/methodology/approach The paper presents an equilibrium model with two types of households (low- and high-income) and two types of houses (low- and high-quality) to examine equilibrium prices before and after the introduction of a subsidy. Findings This subsidy not only makes owning less affordable for the lower-income household but also increases the prices of more expensive houses that are not within reach of lower-income households. Research limitations/implications Because this policy has just come into effect in 2018 and no data are available yet, the implications of the model are yet to be tested. Practical implications The implications of the subsidy run counter to its intentions as house prices will rise even further. Other policies or fewer regulations for new construction may be more effective. Social implications An instrument aiming to relieve financially weaker families, this subsidy will increase prices for all house types, assuming continuing supply shortages observed in the German urban housing markets. Originality/value This is the first paper on Germany’s new homeownership subsidy. The model is general enough to be used with any explicit demand and supply functions and is thus applicable to other markets with low supply elasticities.
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Pasko, Oleh, Mykola Hordiyenko, Fuli Chen, Yarmila Tkal, and Yulia Abraham. "Mapping Global Research on International Financial Reporting Standards: A Scientometric Review." International Journal of Financial Research 12, no. 3 (January 21, 2021): 116. http://dx.doi.org/10.5430/ijfr.v12n3p116.
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For the purpose to provide scholars with a more quantifiable and visualized snapshot of the realm of IFRS research (lingua franca in global business today) we conducted a scientometric review of 973 articles related to the issue published during the period from 2009 to 2020 and indexed in the Web of Science Core Collection. The findings show that the number of related articles has been increasing year by year. The global research on IFRS has been produced chiefly in the USA, England, Australia, China and Germany which not only generated majority of the high-yielding research institutions as well as productive authors but also countries of origins most of the prolific journals. Among the innumerable subject matters debated in these selected papers key are earnings management, information disclosure quality, accounting standards, the impact of IFRS, value relevance, and IFRS adoption. Since 2009, IFRS research bursts can be divided into three stages: 1) the period from 2009 to 2011 - mainly focused on the discussion of the concepts of IAS and IFRS; 2) the period from 2012 to 2014 turned to the theoretical level, and 3) from 2016 to 2020 when the research focused on the practical level. This scientometric review would complement and enrich existing literature by incorporating a quantitative perspective into it.
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Siggelkow, Lena, and Henning Zulch. "Determinants Of The Write-Off Decision Under IFRS: Evidence From Germany." International Business & Economics Research Journal (IBER) 12, no. 7 (July 16, 2013): 737. http://dx.doi.org/10.19030/iber.v12i7.7964.
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This study examines the factors that influence write-off decisions in German-listed companies. Write-offs have been widely discussed, especially for the US-American market, and a relation to earnings management has been found in existing studies. German companies differentiate from the companies that have already been analyzed as they operate under different accounting standards (IFRS) and in a different institutional setting.Additionally, managers are confronted with the task to derive the IFRS annual statements from the existing annual statements according to local GAAP which follow a differing objective. Based on a sample of 805 observations of German companies listed in the DAX, MDAX, TecDax and SDAX indices between 2004 and 2010, we analyze the impact of firm performance as well as reporting incentives on the write-off decision. We find that the write-off probability rises significantly with decreasing overall firm performance, which is in line with the legal requirements. Additionally, we find a strong relation of the write-off probability with unexpectedly high earnings, which is an indicator for income smoothing. Besides influencing the shareholders perception, income smoothing can serve to minimize overall tax payments or to influence the banks risk assessment. In contrast with prior studies focusing on the US-American market, we found no evidence for other capital market motives, like big bath accounting and management changes; neither could we confirm the hypothesis that earnings-based management compensation or leverage have a significant influence on the write-off decision. These results indicate that German managers aim to influence tax payments and potential lenders in contrast to the perception of potential shareholders.
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Liao, Qing, Thorsten Sellhorn, and Hollis A. Skaife. "The Cross-Country Comparability of IFRS Earnings and Book Values: Evidence from France and Germany." Journal of International Accounting Research 11, no. 1 (January 1, 2012): 155–84. http://dx.doi.org/10.2308/jiar-10215.
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ABSTRACT Beginning in 2005, the EU began requiring consolidated financial reports of publicly traded firms to be prepared in accordance with EU-endorsed International Financial Reporting Standards (IFRS) in an effort to increase the comparability of financial information across EU Member States. While some expect IFRS reporting to increase the comparability of financial information across the EU, others argue that comparability is unlikely because IFRS implementation will vary conditional on national institutions and culture. We investigate the cross-country comparability of IFRS earnings and book values of French and German firms because these two EU states have well-developed equity markets and use the same currency, while having social-economic and cultural differences that can affect managers' IFRS implementation choices. Our results indicate that French and German IFRS earnings and book values are comparable in the year subsequent to IFRS adoption, but become less comparable in the years that follow. We document differences in accounting estimates, recognition of special items, and other equity reserves between French and German firms that help explain the decrease in comparability over time. Our study adds to the growing literature on the financial statement effects of mandatory IFRS reporting, and points to possible reasons for a sustained lack of cross-country comparability of financial information under a common accounting regime. JEL Classifications: G12, G14, G38, K22, M41, M42, M48
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Freidank, Carl-Christian, Patrick Velte, and Stefan С. Weber. "The significance of R&D reporting as an element of corporate governance: normative implications and empirical evidence from Germany." Corporate Ownership and Control 6, no. 4 (2009): 503–8. http://dx.doi.org/10.22495/cocv6i4sip1.
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Investment activity in research and development (R&D) represents a central component of a company policy directed toward shareholder value maximation. This article discusses business reporting about the corporate R&D activity, in which in addition to the depiction in the (consolidated) balance sheet the authors concentrate on the management reporting. As a result of the restrictions on recording R&D expenditures in the balance sheet according to the German law (“Handelsgesetzbuch” (HGB)) and the International Financial Reporting Standards (IFRS), (consolidated) management reporting as the information interface between financial accounting and voluntary value reporting takes on a key position in corporate governance.
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Wieczynska, Maria. "The “Big” Consequences of IFRS: How and When Does the Adoption of IFRS Benefit Global Accounting Firms?" Accounting Review 91, no. 4 (January 1, 2015): 1257–83. http://dx.doi.org/10.2308/accr-51340.
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ABSTRACT I investigate how the adoption of International Financial Reporting Standards (IFRS) affects audit markets. Specifically, I examine the effect of IFRS adoption on the likelihood and direction of auditor switching in a sample of firms from five European Union countries: the United Kingdom, Germany, Spain, Italy, and Poland during the period from 1998 through 2010. I hypothesize that IFRS adoption creates an expert advantage for global audit firms (i.e., Big 4 audit firms, Grant Thornton, and BDO) during a regime shift in reporting standards. I find that clients are more likely to switch from small to global audit firms in the year of IFRS adoption. I also hypothesize that the strength of a country's regulatory regime affects the likelihood of auditor replacement around IFRS adoption. I find that firms listed in countries with high-quality regulation and enforcement are significantly more likely to switch from small to global audit firms in the year of IFRS adoption (with the odds of the switch almost doubled when compared to non-adoption years). In weaker regulatory regimes, IFRS adoption is not associated with an increase in auditor switching. Additional tests provide evidence that global audit firms' advantage stems from their perceived IFRS expertise. Finally, the results confirm that not only Big 4, but also Grant Thornton and BDO, benefit from IFRS adoption.
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Romashko, O. M., M. Y. Tatenko, and N. Y. Tatenko. "The Main Problematic Aspects of the Accounting of the IFRS Lease and Ways to Solve Them." Business Inform 12, no. 527 (2021): 210–17. http://dx.doi.org/10.32983/2222-4459-2021-12-210-217.
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The purpose of this study is to disclose the issues of lease, taking into account the new standard, as well as the characteristics of the features of displaying practical issues and displaying such information in the company’s financial statements. No less important task of this study is to propose means and ways to solve the analyzed problems, taking into account the practical and scientific base. The article analyzes the main problematic aspects of accounting of the IFRS lease. In particular, the relevance of this topic is disclosed in connection with the adoption of the new standard: IFRS 16 «Leases». The analysis of the works of scholars who have worked on this topic is carried out. The definition of the term «Lease» is presented in various regulatory frameworks, in particular in the legislation of Ukraine, Great Britain and Germany. Based on the analysis of IFRS 16, the conditions under which the relationship recognized as a lease are specified. The need for an updated standard is indicated; attention is focused on the shortcomings of the IAS 17 «Leases». A comparative analysis of new standards was carried out: European IFRS 16 and American ZPO 842 «Leases». Attention is focused on the benefits of these regulations. The most important problematic issues of the updated European standard are highlighted and schematically reflected, namely: lease term, lease agreement, discount rate, retrospective recalculation. In particular, a practical example is provided using the research of the «big four» specialists. The following ways to solve problems are proposed: determination of lease term in internal accounting policy and criteria that would indicate significant economic benefits; determining the percentage of the ratio of the size of the materiality and fixing it in the standard; registering a discount rate in the accounting policy, with the justification of the choice, and in the standard – criteria for its choice; adjustment of the amount of assets and liabilities in retrospective recalculation of balance sheet indicators in previous periods.
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Malyshkin, O., S. Rohoznyi, O. Yarmolitska, and Yu Ostapenko. "DEFERRED INCOME TAX: IMPACT ON FINANCIAL AND TAX REPORTING (THE PRACTIСE OF UKRAINE AND GERMANY)." Financial and credit activity problems of theory and practice 4, no. 39 (September 10, 2021): 138–48. http://dx.doi.org/10.18371/fcaptp.v4i39.241302.
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Abstract. Income taxation is typical for most countries with their own peculiarities. In the practice of the Ukrainian enterprises, there is a lack of relationship between accounting and tax accounting to reflect the deferred tax asset and deferred tax liability in the reporting. The purpose of the article is to analyze the income tax in terms of its calculation by the international standards and identify key tax differences. The authors proposed to formulate the definitions of the current income tax which should be understood as the amount of income taxes payable (reimbursed) on taxable profit (tax loss) for the period and expenses (income) from income tax which should be understood as the total amount included in the determination of profit or loss for the period in accordance with current and deferred taxes. This interpretation of the definitions will help better understand the concepts in accounting and taxation. The tax base of assets and the tax base of liabilities are given and substantiated. The temporary differences were identified by authors. The example of definition of Deferred tax liabilities and Deferred tax assets, the order of their reflection in the report on financial results (about the total income) and disclosure in the Notes to the financial reporting is considered and analyzed. The impact on the indicators of the Income Tax Return is investigated. There is no direct impact of the amount of the Deferred tax assets / Deferred tax liabilities according to the current algorithm for the object of taxation, which is determined by tax legislation. The conclusions are made about the importance of determining of Deferred tax liabilities and Deferred tax assets, which directly affects the amount of net profit. The result of the study was confirmation of the hypothesis concerning different orientation of norms of the legal documents on the display of information in the forms of the financial and tax reporting. Such differences are related to the different requirement to the reporting by the modern stakeholders. Keywords: income tax, deferred tax, tax asset, tax liability, reporting. JEL Classification M40, М41, М48 Formulas: 0; fig.: 2; tabl.: 5; bibl.: 16.
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Shkulipa, Lyudmyla. "Analysis of Impact of Changes in IFRSs on Convergence of Accounting Systems in World." Studia Universitatis „Vasile Goldis” Arad – Economics Series 31, no. 3 (July 23, 2021): 75–103. http://dx.doi.org/10.2478/sues-2021-0015.
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Abstract The article examines the impact of updated IFRS on the current convergence of national accounting and reporting rules in Japan, the USA, China, France, Germany, the UK, and Ukraine based on a theoretical analysis of 59 rules and concepts of IFRS. The new differences between the updated IFRS and GAAP of these countries based on the comparative analysis were revealed. The results of the study show currently Ukraine (51%) and the United Kingdom (47%) are the most convergent with IFRS, although their degree of convergence has decreased significantly after recent innovations in IFRS; a new question arises for the UK after Brexit regarding the further application of IFRS; countries with strong national accounting traditions continue to avoid rapid changes in their GAAP; 4) the increase in the convergence of GAAP Japan with IFRS will not be possible shortly. The conclusion states that the main obstacle in the convergent process GAAP and IFRS is that: 1) IFRS are changing based on GAAP USA, rather than vice versa; 2) IFRS do not belong to the “stable to change standards”, so users have a certain distrust of the declared high quality of IFRS. The study results add significant novelty to scientific and practical research on the impact of frequent changes in IFRS both locally and internationally.
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Hilger, Stefan. "The relationship between corporate governance and firm performance revisited: where do we stand?" Corporate Ownership and Control 7, no. 3 (2010): 124–37. http://dx.doi.org/10.22495/cocv7i3p9.
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How is corporate governance measured, and what is the relationship between corporate governance mechanisms and corporate performance? This paper aims to shed light on these questions by providing an overview of the most important research findings in this area with a focus on the USA and Germany. My analysis gives rise to the following remarks. First, studies examining the impact of singles governance mechanisms are inconclusive and mixed in their findings, and especially the question of causality is still unanswered. Second, when a holistic approach is used, the proposition that good corporate governance enhances long-term performance is supported. However, corporate governance practices alone cannot assure long-term corporate performance and good standards of corporate governance are no substitute for the solidity of business models.
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Ph.D. MBA, CPA, CTP, Karina Kasztelnik. "The Role and Impact of International Financial Reporting Standards on Cross-Border Financing for a Systemically Important Bank from Macroeconomic Perspectives—Technical Review Research Study." International Business & Economics Studies 2, no. 3 (September 2, 2020): p74. http://dx.doi.org/10.22158/ibes.v2n3p74.
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The author of the study note that the extensiveness of a country’s international accounting disclosure requirements is a good for the overall disclosure extensiveness of the exchange in that foreign country, which, in turn, is bigly correlated with the cost of listing such as United States, Canada, United Kingdom, The Netherlands, France, Japan, and Germany. The United States and the national over-the-counter market have enjoyed significant growth in foreign listing. In absolute terms, the U.S. numbers are even more impressive. As of December 2019, the 1,420 foreign companies whose shares are traded in the United States reparent the largest amount of foreign listings of any major stock exchange in the world., which reflects, at least in part, recognition by multinational entities that the U.S. securities market represents the most efficient market in the world, thus translating into a lower cost of capital for issuer of securities. This technical research review article may support both the public trade companies and policymakers around the World.
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Pulignano, Valeria, Nadja Doerflinger, and Maarten Keune. "Re-introducing the company in the analysis of labour market dualisation: Variety of patterns and diversity of outcomes between standard and non-standard workers in multinational subsidiaries in Belgium, Germany and Britain." Economic and Industrial Democracy 41, no. 3 (October 6, 2017): 586–609. http://dx.doi.org/10.1177/0143831x17731610.
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This article re-introduces the company in the analysis of labour market dualisation by studying local actors’ (i.e. management and employee representatives) strategies as embedded in organisational and institutional contexts. Building on 12 case studies of multinational corporation (hereinafter MNC) subsidiaries in Belgium, Germany and Britain, the authors illustrate how organisational and institutional legacies influence (but do not determine) local actors’ strategic arrangements regarding the working conditions of standard (insider) and non-standard (outsider) workers. The outcomes resulting from these local (negotiated) arrangements illustrate a variety of inequality patterns, rather than any single pattern. The study distinguishes between convergence, where differences in working conditions between the different groups of workers decrease as the result of reduced standards for the better-off group, and divergence, where these differences increase.
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Jaehrling, Karen, Mathew Johnson, Trine P. Larsen, Bjarke Refslund, and Damian Grimshaw. "Tackling Precarious Work in Public Supply Chains: A Comparison of Local Government Procurement Policies in Denmark, Germany and the UK." Work, Employment and Society 32, no. 3 (June 2018): 546–63. http://dx.doi.org/10.1177/0950017018758216.
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Through a cross-national comparative study of local government ‘best practice cases’ of socially responsible procurement in Denmark, Germany and the UK, this article critically examines the role of labour clauses in addressing issues of low wages and precarious work in public supply chains. It provides new insights on the negotiations and outcomes of labour clauses across different stages of the policy process, including implementation and monitoring. The analysis demonstrates the importance of pragmatic alliances of progressive local politicians, unions and employers in ensuring that socially responsible procurement moves beyond rhetoric, along with supportive national and sectoral employment regimes. Labour clauses can compensate for weak systems of labour market regulation by setting higher standards for outsourced workers, while they play a complementary role in more regulated labour markets by levelling up wages and working conditions to prevailing collectively agreed standards.
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Svoboda, P. "Balancing of the chosen intangible fixed assets according to the Czech accounting legislation, German accounting systems and international accounting standards." Agricultural Economics (Zemědělská ekonomika) 54, NO. 7 (July 31, 2008): 314–21. http://dx.doi.org/10.17221/2708-agricecon.
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The paper deals with the comparison of intangible fixed assets, especially in the area of determination, evaluation as at the date of the accounting transaction, closing date and possibilities of depreciation according to the Czech accounting legislation, the selected German accounting systems and the international accounting standards IAS/IFRS and US GAAP. An analysis of the selected Czech firms with a varied structure of intangible fixed assets was also performed. The analysis proved that, in spite of the running IAS/IFRS and US GAAP convergence process, there are significant differences in this area, which limit the comparability of financial statements of accounting units. This paper is not concerned in detail with the preference limits and permits for greenhouse gases and intangible assets in acquisition.
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Polzer, Tobias, and Christoph Reichard. "IPSAS for European Union member states as starting points for EPSAS." International Journal of Public Sector Management 33, no. 2/3 (December 13, 2019): 247–64. http://dx.doi.org/10.1108/ijpsm-12-2018-0276.
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Purpose The European Commission is pursuing an initiative to establish European Public Sector Accounting Standards (EPSAS) as a common mandatory set of rules for financial reporting of all member states of the European Union (EU). As a basis for developing EPSAS, the International Public Sector Accounting Standards (IPSAS) are being used. The purpose of this paper is to structure and analyze the discussion around EPSAS, with particular emphasis on the arguments that were brought forward by governments and other stakeholders of various EU countries regarding the suitability of IPSAS. Design/methodology/approach Drawing on several schools of thought in new institutional theory, how the prevailing institutional contexts in countries influence the debates is explored. Empirically, this research investigates the responses to a consultation on the suitability of IPSAS for EU member states and takes a closer look, via document analysis, at France and Germany as two critical cases. Findings It is found that, first, the majority of arguments from respondents are framed in a rational choice way. Second, skeptics of IPSAS tend to make arguments rather from positions closer to historical and/or sociological institutionalism. Research limitations/implications The paper illustrates that while technical matters around EPSAS seem solvable, political, historical and cultural differences go deeper, and need to be addressed by change agents. Regarding limitations of the research, first, the analysis concentrates on financial reporting and does not deal with the implications for more reliable and comparable national accounts in the context of the European System of Accounts (ESA, 2010). Second, it is focused on debates in the context of the EPSAS proposal, and there is a need for an evaluation after the changes have gone live. Originality/value The study looks at a text genre that has so far received less attention in public sector accounting research: responses to consultations. The paper contributes to the literature by showing how institutional contexts matter in settings characterized by contestation of reform contents.
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Khomovyi, S., N. Khomyak, N. Tomilova-Yaremchuk, and V. Litvinenko. "International methods of accounting and giving financial reporting to banking institutions." Ekonomìka ta upravlìnnâ APK, no. 2(159) (November 24, 2020): 115–23. http://dx.doi.org/10.33245/2310-9262-2020-159-2-115-123.
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The article analyzes the trends of annual increase in the number of countries that encourage the use of IFRS in their territories in different companies and in different spheres of activity. Developed system of IFRS implementation, their transparency and openness will further lead to a significant improvement in relations with investors and increase their confidence in banks. The comparison of the status of the IFRS use for organizations around the world has been conducted. The immediate connection between the effective activity of banking institutions in foreign countries and the introduction of IFRS has been demonstrated. The factors of proximity of countries to the political forces formed in IASB have been highlighted, and the indicators of probable national strategies of IFRS implementation in different countries of the world have been given. While Ukraine is one of the countries that has quite weak political influence on the management decisions of the IASC. It was found out that in Ukraine the process of harmonization of accounting with IFRS in the banking sector began in 1998, however they began to be considered as a subject of regulation only recently. Nowadays, IFRS is already the basis of UAS and other regulations, which indicates the effectiveness of the process of combining national characteristics of doing business in Ukraine with international ones. It has been established that an important factor in adjusting the Ukrainian banking accounting system is to provide real financial information about the true price of assets of the bank, their profitability, transparency of accounting activities, creating effective methodological and legal documents governing the accounting of financial instruments under international rules. The plans of bank accounts before and after the reform have been considered, their advantages and disadvantages have been outlined. In this research the general problems in banking institutions in the process of implementing international standards, as well as possible ways to solve them have been also analyzed. The process of monitoring the quality of financial reporting in banks is also important. The analysis of foreign systems of this process has shown that the most favorable for Ukrainian banks is the control structure used in Germany. Among the main risks of full implementation of IFRS in banking institutions of Ukraine, we have identified: 1) internal ‒ an increase in the number of users of financial information; content of corporate reporting (integrated, non-financial, management); corporate auditing policy; 2) external ‒ financial risks; the danger of rapid integration into international financial markets; interest rate risks. Key words: accounting, IFRS, banks, organization of accounting, chart of accounts, regulation of accounting standard, financial
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Kouki, Ahmed. "Mandatory IFRS adoption, investor protection and earnings management." International Journal of Accounting & Information Management 26, no. 1 (March 5, 2018): 187–204. http://dx.doi.org/10.1108/ijaim-07-2017-0091.
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Purpose The purpose of this paper is to examine the effect of investor protection on earnings management before and after IFRS adoption. Design/methodology/approach A sample of 106 companies listed on Germany, France and Belgium stock markets for the pre-IFRS (2000-2004) and post-IFRS (2006-2011) periods was used. This research is based on a comparative study between the pre- and the post-IFRS periods. Findings The results showed that investor protection better explains earnings management after the transition to IFRS. The findings revealed that international standards and investor protection are significant in jointly explaining earnings management for the second reporting period. Originality/value The study gives rise to a score that is considered as a proxy of investor protection that regroups several macroeconomic indexes.
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Dobler, Michael. "National and International Developments in Risk Reporting: May the German Accounting Standard 5 Lead the Way Internationally?" German Law Journal 6, no. 8 (August 1, 2005): 1191–200. http://dx.doi.org/10.1017/s207183220001422x.
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In this journal, Buchheim and Beiersdorf discussed recent changes in the regulation of the management report (Lagebericht) in Germany. The German Commercial Code (HGB – Handelsgesetzbuch) requires a management report by individual entities classified as companies with limited liability in § 289 and by groups in § 315. The reporting requirements of the latter are specified by the German Accounting Standard GAS 15 on Management Reporting. The authors award the German regulation to potentially lead the way internationally.
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Khan, B. Zorina. "Selling Ideas: An International Perspective on Patenting and Markets for Technological Innovations, 1790–1930." Business History Review 87, no. 1 (2013): 39–68. http://dx.doi.org/10.1017/s0007680513000135.
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An extensive global market in patents and innovations developed after the middle of the nineteenth century. I employ data from the United States, Britain, Germany, Canada, New South Wales, Spain, and Japan during the nineteenth and early twentieth centuries to assess the evolution of transfers in patent-property rights across these countries. The empirical analysis examines the factors that affected patterns in patent assignments and foreign patenting for these countries. It sheds further light on cross-sectional variation in foreign patenting and transfers to corporations, based on a panel data set of patent grants and assignments at issue in the United States during the Second Industrial Revolution. The results indicate that, just as inventive activity responded to incentives, the patterns of market exchange in patent rights varied in accordance with legal, economic, and institutional parameters. The analysis is consistent with the position that developing countries today might benefit from tailoring their patent institutions to individual circumstances rather than adhering to harmonized standards.
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Mahlow, Nils, and Joël Wagner. "Process landscape and efficiency in non-life insurance claims management." Journal of Risk Finance 17, no. 2 (March 21, 2016): 218–44. http://dx.doi.org/10.1108/jrf-07-2015-0069.
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Purpose In view of the fact that claim payouts account for about 70 per cent of annual direct costs in non-life insurance companies and that claims-handling staff sums up to 10-20 per cent of all employees, an optimal claims management environment is of strategic importance. The purpose of this paper is twofold, i.e. on the one hand, the authors introduce a standardized claims management process model and, on the other hand, they apply process benchmarks to various operational parameters. Design/methodology/approach The proposed claims management process landscape comprises current industry standards for claims handling from a theoretical perspective, supported by practice insights from the industry. Our model aims to reflect the most important claims processing activities. The claims-handling work flow is structured into five core steps, namely, notification, registration, coverage audit, settlement and closing of the claim. For these core steps, the authors differentiate between three claim complexity categories and their associated back-office levels. In the second part of the paper, the authors assess the industry’s claims-handling efficiency. The authors benchmark industry processes with reference to detailed claims management data from 11 insurers in Germany and Switzerland. Findings The benchmarks are based on the previously defined claims management model and are applied separately to the three retail business lines of car, property and liability insurance. We measure claim process times (cycle times) as well as claim quantities and average claim payouts at different levels. Overall, within each business line, more than 30 data points are gathered from each respondent insurer. This allows us to compare the process performance of different insurance companies and to describe significant differences in their process patterns. Furthermore, principal findings are derived from descriptive statistics as well as ad hoc data analyses. Originality/value The paper seeks to contribute to the discussion of how different insurance companies perform in claims management and to define best practice. Our findings are relevant to academics and practitioners alike.
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Lopes, Ana Isabel, and Mariana Lopes. "Effects of adopting IFRS 10 and IFRS 11 on consolidated financial statements." Meditari Accountancy Research 27, no. 1 (February 11, 2019): 91–124. http://dx.doi.org/10.1108/medar-12-2017-0253.
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Purpose The purpose of this paper is to investigate how the adoption of IFRS 10 and IFRS 11 affected consolidated financial statements. Specifically, the paper explores whether entities adopted mandatorily or voluntarily both IFRS, whether expressly declared effects, whether considered those effects as material and whether those effects had impacts on selected items of financial statements and on selected financial ratios. Design/methodology/approach The research is an exploratory study using public entities from Germany, France and the UK. The majority of the data is manually collected from financial statements. Findings The results suggest that the adoption of the new IFRS 10 affected the composition of a large number of entity groups but that their financial information and economic-financial indicators do not present material changes. There is also evidence of a large and material impact on the changes in the classification and accounting for interests in arrangements under joint control through the new IFRS 11. The evidence thus suggests unequal effects of the adoption of IFRS 10 and IFRS 11 on the proportion of entities declaring materiality of effects, on the quantitative effects on selected items of financial statements, and on financial ratios. A comparison between the pre-adoption and post-adoption periods reveals that the majority of the effects are driven by the adoption of IFRS 11. Originality/value As far as is known this exploratory paper is the first presenting the effectiveness of adopting the most important standards under the “consolidation package” and opens an avenue for future research by academics, for future post-implementation reviews by IASB, and for analysis of peer reviews between accounting practitioners.
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Schmidt, Isabelle, Bettina Rickert, Oliver Schmoll, and Thomas Rapp. "Implementation and evaluation of the water safety plan approach for buildings." Journal of Water and Health 17, no. 6 (October 30, 2019): 870–83. http://dx.doi.org/10.2166/wh.2019.046.
Full textAbstract:
Abstract The World Health Organization (WHO) promotes water safety plans (WSPs) – a risk-based management approach – for premise plumbing systems in buildings to prevent deterioration of drinking-water quality. Experience with the implementation of WSPs in buildings were gathered within a pilot project in Germany. The project included an evaluation of the feasibility and advantages of WSPs by all stakeholders who share responsibility in drinking-water safety. While the feasibility of the concept was demonstrated for all buildings, benefits reported by building operators varied. The more technical standards were complied with before implementing WSP, the less pronounced were the resulting improvements. In most cases, WSPs yielded an increased system knowledge and awareness for drinking-water quality issues. WSPs also led to improved operation of the premise plumbing system and provided benefits for surveillance authorities. A survey among the European Network of Drinking-Water Regulators on the existing legal framework regarding drinking-water safety in buildings exhibited that countries are aware of the need to manage risks in buildings' installations, but experience with WSP is rare. Based on the successful implementation and the positive effects of WSPs on drinking-water quality, we recommend the establishment of legal frameworks that require WSPs for priority buildings whilst accounting for differing conditions in buildings and countries.