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Dissertations / Theses on the topic 'Asset accounting'
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1
Rowbottom, Nick. "Intangible asset accounting and accounting policy selection in the football industry." Thesis, University of Birmingham, 1999. http://etheses.bham.ac.uk//id/eprint/899/.
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The main aim of this thesis is to evaluate the feasibility of intangible asset accounting in financial reporting with particular reference to the football industry. It also examines related accounting policies. Lack of reliable measurement is the major obstacle to the recognition of intangible assets. The measurement of intangible assets is problematic due to a lack of verification through reference to an active market. However, drawing on Human Resource Accounting, the thesis argues that identifying and measuring human resource assets may be possible in the football industry. The human resource asset, the player registration, is subject to sufficient control through unique industry structures to justify recognition as an intangible asset. The existence of an active market for player registrations facilitates reliable measurement. In the football industry, a wide variety of accounting policies are employed in accounting for player registrations and other material transactions. Hypotheses regarding the reasons for selecting particular accounting policies are developed and tested. Findings suggest that institutional pressure which influences perceptions of legitimacy and credibility can affect the selection of accounting policies. The thesis also develops and tests a model to value player registrations as intangible assets where they are not subject to market transactions. The ability to reliably measure intangible assets is regarded as crucial to their recognition in financial reporting. In addition, it will lead to the acceptance of intangible asset policies as legitimate and credible, despite the market orientated bias of traditional financial reporting.
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Filippelli, Candace L. "Intangibles: The Most Valuable Unrecorded Asset." Scholarship @ Claremont, 2013. http://scholarship.claremont.edu/cmc_theses/749.
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This thesis proves that intangible assets are impossible to accurately value because of their inherently complex attributes. Intangibles have always existed in the market, but their presence has nearly quadrupled in the last few decades due to the Information Revolution. This technological breakthrough was characterized by the globalization of knowledge, communication, and trade. This dissemination of knowledge due to the infrastructural changes of both the telecommunication and transportation industries transformed the economy from a ‘product-driven’ market to a ‘knowledge-driven’ market. This surge in intangible assets is significant because it proves that “knowledge-driven” elements are now material to company value. As such, accurate measurement of intangible assets is essential to preserving the reliability of financial statements. Current accounting practices largely ignore the value created by intangible asset and this has serious consequences for investors, firms, and the economy as a whole. Insufficient accounting of intangible assets distorts company value, increases the cost of capital, and compromises the reliability of financial statements. While it is utterly impossible to create accounting standards that will, without fail, accurately measure all intangible assets as well as take into account their lifespans, volatility, increasing economies of scale, partial excludability, and lack of tradability, this thesis proposes a way to help mitigate the disparity between what financial statements recognize and what companies actually generate.
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Johnson, Lorne D. "Essays in empirical asset pricing /." Thesis, Connect to this title online; UW restricted, 2000. http://hdl.handle.net/1773/7457.
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Koulafetis, Panayiota. "Asset pricing in UK." Thesis, City University London, 2000. http://openaccess.city.ac.uk/8108/.
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The thesis contributes to the literature in the following ways: First it contributes to the body of literature by extending our knowledge on the predictive ability of alternative Unconditional methodologies. Second it adds to the body of litareture by providing practical tests so as to assess the performance of Conditional models. Third the thesis extends our knowledge on the sensitivity of utilising different portfolio formation criteria, while testing both Unconditional and Conditional asset pricing inferences. Fourth it contributes to the body of literature by extending our knowledge on Unconditional and Conditional beta models and their comparative performance. Fifth the thesis adds to the existing literature by estimating the Industry cost of capital, using the following different models, Unconditional, Conditional, the Arbitrage Pricing Model and the Capital Asset Pricing model. Thus provides empirical evidence using a practical application, estimation of the Industry cost of capital, of which model provides a better description of UK returns. Chapter 4 introduces the portfolio returns used in the thesis and examines the size, price earnings ratio, dividend yield effect and their interactions. The time-series of the primary portfolios start in 1956 and ends in 1996. We find that for the 1976-1996 period, that the dividend yield and PE effect subsume the size effect. However the PE effect subsumes the dividend yield effect and it is the PE effect that is the most dominant. The best documented of all stock market effects, the small-firm premium went into reverse during 1989-1996. The size effect lives on, but for the latest decade, it is the largest firms that outperform the smallest ones by 10.26% per annum. Chapter 5, which examines Unconditional models, aims to examine the predictive ability of alternative Unconditional methodologies. Another objective that is explored is the sensitivity of results to different grouping techniques, of size; PE ratio and dividend yield portfolio groupings. The third issue examined entails the identification of priced factors in the UK market, over a twenty year of period, (1976-1996), and for a data-set (approximately 6000 companies), which provides a complete history of firms traded on the London Stock exchange, inclusive of Unlisted securities market. We find that that the choice of one methodology over another has important implications and that there is a sensitivity of results to different portfolio groupings. Chapter 6, which examines Conditional models, i. e., conditioned on a set of instrumental variables, models the dynamic behaviour of portfolio returns using a Conditional Asset Pricing Model and examine the behaviour of macroeconomic risk premiums over time. We provide practical tests of Conditional Asset Pricing Models and forecast (i) the sign of the price of risk using the probit model, (ii) the magnitude of the price of risk and (iii) portfolio returns for the size, PE ratio and dividend yield portfolios. We find that the instrumental variables show ability to predict variation of the price of risk of the return on FTSE, S&P 500, unexpected UK stock exchange turnover, change in money supply, imports, inflation and portfolio returns. Chapter 7 compares first Unconditional (constant) and Conditional (time-varying & conditioned on a set of instrumental variables) beta models and second the CAPM and the APM, estimates the industry cost of capital. We find differences, between constant unconditional betas and conditional betas cost of capital. The average Mean Square Error (MSE) for the conditional betas are smaller compared to constant betas. Moreover we find that the CAPM has larger MSE not only compared to the APT model with conditional betas, but with APT with unconditional betas. The Conditional beta model provides the best description of UK returns. We also run Monte Carlo simulations and test the statistical significance of the errors of the Conditional beta model. We find the errors to be statistically insignificant.
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Su, Youjin. "Liquidity and asset pricing." Thesis, University of Aberdeen, 2013. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=211117.
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This thesis is an empirical analysis which is focussed on the potential relationship between liquidity and asset pricing; where its key objective is to provide an assessment about the role for liquidity in asset pricing models. The data sample covers the United Kingdom from 1987 to 2009 and the methodological approaches include; Fama and MacBeth (1973) cross section regressions; time series regression analysis; factor analysis; and, non-nested testing. Several liquidity measures are compared, including the Amivest, the Hui-Heubel and the Amihud measures of liquidity. The role of unexpected liquidity and monetary policy is also considered. Building on earlier findings in the thesis, a deeper examination of the role of liquidity in explicit asset pricing frameworks, such as the capital asset pricing model and the Fama-French three factor model, then takes place through incorporation of the Hui- Heubel and Amihud measures of liquidity. Overall, the results suggest that conditions of declining liquidity (rising illiquidity) appear to be associated with increasing risk premia. This observation appears also to apply when portfolios are sorted by size. Finally, the conclusion is reached that modelling liquidity within an asset pricing framework is likely to be very useful, particularly given the changes to the financial market horizon where liquidity as a concept has come increasingly to the fore because of current government policies associated with quantitative easing.
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Cruces, Juan José. "Essays on asset pricing in emerging markets /." Thesis, Connect to this title online; UW restricted, 2001. http://hdl.handle.net/1773/7506.
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Ahn, Minkwan. "The Market’s View on Accounting Classifications for Asset Securitizations." The Ohio State University, 2014. http://rave.ohiolink.edu/etdc/view?acc_num=osu1402581668.
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Simin, Timothy T. "The poor predictive performance of asset pricing models /." Thesis, Connect to this title online; UW restricted, 2002. http://hdl.handle.net/1773/8823.
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Mtayisi, Nobuntu Rebecca. "The efficiency of budgeting for procurement of movable non-current assets in the absence of sound asset management." Thesis, Nelson Mandela Metropolitan University, 2017. http://hdl.handle.net/10948/19651.
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Movable non-current assets are physical and mobile assets that a municipality uses to provide services to the community directly or indirectly. Therefore, effective movable non-current asset management is necessary to ensure that these assets provide value to both the municipality and the community. This study seeks to determine whether poor asset management negatively affects capital budgeting for procurement of movable non-current assets. Mbhashe Local Municipality, a Category B municipality in the Eastern Cape Province was selected for the study. A desktop research method was utilised for this study. The analysis of secondary data includes policy documents (such as National Treasury asset management guidelines and Mbhashe budgeting policy), books, journals, internet data, newspapers and research documents in order to determine asset management guidelines and budgeting theories by noteworthy scholars. Auditor General South Africa (AGSA) and State of Local Government Finance reports were also analysed to establish the current practice and impact of the role of the municipal management in its finances as well as budget spending patterns at Mbhashe Local Municipality. The results of the study revealed that Mbhashe Local Municipality’s non-compliance with asset management and budgeting policies and procedures throughout the period of the study negatively affected their capital budgeting decisions. The consequences of instability in leadership and lack of approved movable non-current asset management policy resulted in partial asset information, incorrect recording and accounting systems for assets and unauthorised disposal of strategic movable non-current assets. Although, an approved budget policy existed at Mbhashe Local Municipality, the budgetary information was unrealistic because of negligence such as: lack of public participation, consultation and alignment of the Integrated Development Plan (IDP) with the municipality’s objectives. This resulted in habitual under-spending of capital assets compared to the capital budget throughout the period of the study.
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Kim, Sangbae 1968. "Essays on asset pricing theory." Monash University, Dept. of Accounting and Finance, 2003. http://arrow.monash.edu.au/hdl/1959.1/5680.
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Turner, Elizabeth H. "The Market Value Implications of Pension Asset Allocation." FIU Digital Commons, 2013. http://digitalcommons.fiu.edu/etd/944.
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Pension funds have been part of the private sector since the 1850’s. Defined Benefit pension plans [DB], where a company promises to make regular contributions to investment accounts held for participating employees in order to pay a promised lifelong annuity, are significant capital markets participants, amounting to 2.3 trillion dollars in 2010 (Federal Reserve Board, 2013). In 2006, Statement of Financial Accounting Standards No.158 (SFAS 158), Employers’ Accounting for Defined Benefit Pension and Other Postemployment Plans, shifted information concerning funding status and pension asset/liability composition from disclosure in the footnotes to recognition in the financial statements. I add to the literature by being the first to examine the effect of recent pension reform during the financial crisis of 2008-09.
This dissertation is comprised of three related essays. In my first essay, I investigate whether investors assign different pricing multiples to the various classes of pension assets when valuing firms. The pricing multiples on all classes of assets are significantly different from each other, but only investments in bonds and equities were value-relevant during the recent financial crisis. Consistent with investors viewing pension liabilities as liabilities of the firm, the pricing multiples on pension liabilities are significantly larger than those on non-pension liabilities. The only pension costs significantly associated with firm value are actual rate of return and interest expense.
In my second essay, I investigate the role of accruals in predicting future cash flows, extending the Barth et al. (2001a) model of the accrual process. Using market value of equity as a proxy for cash flows, the results of this study suggest that aggregate accounting amounts mask how the components of earnings affect investors’ ability to predict future cash flows. Disaggregating pension earnings components and accruals results in an increase in predictive power. During the 2008-2009 financial crisis, however, investors placed a greater (and negative) weight on the incremental information contained in the individual components of accruals. The inferences are robust to alternative specifications of accruals.
Finally, in my third essay I investigate how investors view under-funded plans. On average, investors: view deficits arising from under-funded plans as belonging to the firm; reward firms with fully or over-funded pension plans; and encourage those funds with unfunded pension plans to become funded. Investors also encourage conservative pension asset allocations to mitigate firm risk, and smaller firms are perceived as being better able to handle the risk associated with underfunded plans. During the financial crisis of 2008-2009 underfunded status had a lower negative association with market value.
In all three models, there are significant differences in pre- and post- SFAS 158 periods. These results are robust to various scenarios of the timing of the financial crisis and an alternative measure of funding.
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Guilding, Christopher J. "Valuing and managing brands : an internal accounting perspective : an empirical investigation of attitudes to internal brand valuation and organisational and behavioural implications associated with the way that the internal brand management accounting system is operated." Thesis, University of Bradford, 1991. http://hdl.handle.net/10454/3842.
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This thesis is concerned with accounting for the brand management function. Two distinct perspectives are taken: the first derives from aspects of organisational and behavioural accounting research, and the second concerns organisational implications of brand valuation. Both perspectives were initially approached by means of exploratory interviews and a literature review. Hypotheses pertaining to the first perspective were analysed via survey data collected in nine strongly-branded, fast-moving consumer goods (FMCG) companies. Propositions concerned with the implications of brand valuation were developed and used as the basis for measuring attitudes to brand valuation. A questionnaire concerned with brand valuation attitudes was administered to senior-ranking officials in strongly-branded, FMCG companies. The final methodological phase, for both perspectives, involved a case study conducted in a strongly-branded, FMCG company. Significant findings arising from this study include: 1) Managers who see their company as being short-termist, hold more positive attitudes to brand valuation. 2) Marketing-orientated managers are more favourably disposed to brand valuation than accounting-orientated managers. 3) Organisational benefits arising from brand valuation are more strategically, than operationally, orientated. 4) Brand manager budget participation is significantly negatively-related to job-related tension, and positivelyrelated to trust in superior and attitude to reliance on accounting performance measures. 5) Budget participation is more effective in reducing jobrelated tension in situations of high, compared to low, task uncertainty situations. 6) Reliance on a brand manager's accounting performance is positively related to brand manager performance and motivation, and negatively associated with job-related tension.
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Guidolin, Massimo. "Asset prices on Bayesian learning paths /." Diss., Connect to a 24 p. preview or request complete full text in PDF format. Access restricted to UC campuses, 2000. http://wwwlib.umi.com/cr/ucsd/fullcit?p9975886.
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Sarkissian, Sergei. "Heterogeneous consumption and asset pricing in global financial markets /." Thesis, Connect to this title online; UW restricted, 1999. http://hdl.handle.net/1773/8722.
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Lin, Yu-Chih. "Asset revaluations : economic determinants of accounting policy choice in the UK." Thesis, Lancaster University, 1994. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.384880.
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Babinec, Matúš. "Harmonization of Accounting Treatment of Property, Plant, Equipment and Intangible Assets." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-4248.
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The globalization of world economy has inevitably affected also the movements in harmonization process of accounting standards around the world. International Financial Reporting Standards have become the ultimate accounting and reporting tool of most developed countries. The only remaining counterpart -- the US GAAP, is slowly subsiding to the enormous spread momentum that IFRS gained in recent years. In this setting I examine the application of International standards on accounting treatment of Property, Plant and Equipment, and also the Intangible Assets. Subsequently I compare this treatment to US GAAP and document all major differences still persistent at the end of year 2008. Considering that there are still many divergences between the two sets of standards, I try to document their impact on the reporting and presentation of financial statements of several blue chip companies. My analysis suggests that differences in reported numbers depending on standards chosen can distort comparability of financial statements and performance assessment, thus potentially biasing the decision making process of involved stakeholders.
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Vu, Tuan Hung. "Essays on the economic consequences of international pension accounting standard IAS19." Thesis, University of Exeter, 2017. http://hdl.handle.net/10871/30568.
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This thesis examines the economic consequences of the adoption of international pension accounting standard IAS19 Revised (IAS19R) on pension asset allocation decisions by applying a difference-in-differences with propensity score matching method. The publication of IAS19R in 2011 marked a fundamental change to pension reporting in financial statements. In particular, it had a significant impact on (1) how sponsor firms recognise net pension assets/liabilities on the balance sheet, (2) the calculation and recognition of pension expenses, (3) the presentation of re-measurement (actuarial gains and losses), treatment of which had been heavily debated by academics and practitioners, and (4) disclosure requirements for pension schemes, which had been criticised as “excessive” under IAS19. This research examines the “real effect” of IAS19R adoption on management investment decisions. Using a difference-in-differences with propensity score matching method, the results suggest that, on average, UK sponsor firms affected by IAS19R have reduced their risk taking in pension investments post-IAS19R, both over time and compared with a control sample of unaffected US firms (matched by propensity score matching). The results of sensitivity analysis also suggest that UK sponsor firms tried to avoid the expensive liquidity costs of asset re-allocation by switching their pension plan asset allocations gradually during the period around the publication and adoption of IAS19R. Furthermore, the outcomes of sensitivity tests suggest a positive relationship between equity investment levels, and firms’ leverage and cash flow risk, consistent with the “risk-shifting” hypothesis documented in the previous literature. The thesis also applies a manual textual analysis on the comment letters sent by industrial firms to the IASB to provide their opinions on the IAS19R Exposure Draft. The analysis describes and tabulates the arguments raised by these firms on three main amendment areas of IAS19: recognition, presentation and disclosure. Based on this description, this part aims to motivate the empirical research mentioned previously and shed light on the other potential consequences of IAS19R adoption. These consequences include: the management of funding might be driven by accounting rules rather than management rules; the increasing volatility of balance sheet; de-risking in the pension plan portfolio following the adoption of IAS19R; the diminishing of financial statement “true and fair view” and its usefulness due to the abolition of expected rate of return and excessive requirements on pension disclosure. Furthermore, the study also suggests that the lobbying behaviour of these firms on the standard setting process is consistent with the predictions of Positive Accounting Theory.
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Rose, Robert T. "Asset Protection Through the Use of Premarital Agreements." Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/cmc_theses/431.
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The number of multi-million dollar divorce settlements has been increasing rapidly in the last decade. Although Donald Trump's divorce from his first wife, Ivana, wherein $25 million was awarded to the former spouse, may have seemed like a significant sum in 1992, this amount appears quite minuscule today.1 In December of 2011, Mel Gibson's soon to be ex-wife Robyn Moore received $425 million in the couples' divorce settlement.2 In March of 2012, Frank McCourt was forced to sell his professional franchise, the Los Angeles Dodgers, in bankruptcy during his divorce proceedings with Jamie McCourt.3 It seems as if every month we hear details of another celebrity divorce settlement involving hundreds of millions of dollars, begging the obvious question: do athletes and celebrities who stand to make fortunes during a contemplated marriage, need to be more aware of the consequences of divorce and how to better protect themselves in such a case, before repeating the words "I do"?
1 Joanne Kaufman, "The Art of the Divorce," People,http://www.people.com/people/archive/article/0,20105577,00.html (accessed April 19, 2012).
2 Ken Lee, "Mel Gibson's Ex Wife Takes Half His Estimated $850 Million in Divorce Settlement," People, http://www.people.com/people/article/0,20556666,00.html (accessed April 19, 2012).
3 Stephen Dunn, "Why the McCourt Marital Agreement Failed," Forbes,http://www.forbes.com/sites/stephendunn/2011/12/14/why-the-mccourt-marital-agreement-failed/ (accessed April 19, 2012).
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Cunningham, James K. (James Kenneth). "A Canadian study of admissible monetary asset groupings using nonparametric demand analysis." Thesis, McGill University, 1994. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=22577.
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Structural change and innovation in the market for financial services in recent years have drawn attention to the fact that traditional definitions of money as included in demand for money models and monetary aggregation measures may be misspecified. It is unclear whether or to what extent broader measures of money should be used as targets in monetary policy or as indicators of changes in the real economy. This thesis is a nonparametric empirical test of monetary asset, leisure and consumption good data which seeks to examine whether the underlying structure of preferences implied by monetary aggregation can be said to be justified. Using recent software routines, we test Canadian data for the years 1968-I to 1989-IV in order to determine whether it meets the criteria for utility maximization and for a structure of preferences represented by weak separability. We find that only a narrow grouping of monetary assets meets these requirements. Further, we conclude that many other studies in the literature which have merely assumed weak separability have been misspecified.
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Jonsson, Berth. "Transportation asset management : Quality related accounting, measurements and use in road management processes." Doctoral thesis, KTH, Bygg- och fastighetsekonomi, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-12151.
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Today there are shortcomings in monitoring, control, analyses, learning and reporting of the results of activities and operations in the road management processes. There are also shortcomings in transparency and verifiability, in knowledge of road management’s costs and life cycle costs, of the road capital’s standard and condition and in measures of quality deficiency costs, productivity and maintenance backlog. The starting points for different applications of the model are taken from experience of the subprocesses in practical road management, independent analyses of activities, operations and results, presence at directors’ meetings (in an independent co-opted capacity) and literature reviews. It is my belief that the problems can largely be solved with transparent, verifiable information that is relevant to the sub-processes. A model has been designed with the transport policy’s requirements at the focus for all sub-processes’ applications without repeating errors as regards internal control, use of standard values and index adjustments. For each component, the model provides quality-related information about its current condition and condition value, acquisition value, replacement value and standard target value with the effects of measures carried out. Changes in standard and condition of new construction, improvements, maintenance and consumption can be shown in the model. Information can also be found on a component’s consumption cost, index adjustment and successively accumulated life cycle costs. Quality deficiency costs, inefficiencies, maintenance backlog, cost drivers, productivity and, for example, expected funding needs can be calculated by computer. The model has been tested and this document also describes the model’s implementation project at the SNRA. Most of the road network’s components have been registered for a long time in the SNRA’s road and traffic data bank as compulsory or optional phenomena. The remaining components will to a large extent be entered automatically. Some will require inventorying. In theory, the quality-related accounting will thus have access to information about every individual component in the entire state-administered road network. For at least 75% (80% in the implementation project) of the total value o fthe road capital, current condition information will exist for each individual component in the road network. The information, that constitutes “best available knowledge” of the components’ current functional condition, is administered in dedicated administration systems and comes from different kinds of inventories. The values of the remaining components can be appraised systematically on the basis of individually assessed technical length of life and, for example, planned maintenance. The model shows that decisions to carry out measures can also be based on “best available knowledge” of socioeconomic effectiveness, consideration of the environment, climate and energy in a life cycle perspective, customers’ (society’s and road-users’) expectations and political demands for fairness. These requirements are systematically worked into the limit values for “as constructed” and “worst acceptable condition”. The condition interval between the limit values shows the component’s functional consumption margin provided that the transport policy’s requirements are taken into consideration. The information makes it possible to consider and stipulate requirements regarding the development of components’ accumulated life cycle costs in procurements. Contractors will have a natural focus on increased productivity and cost increases in projects should be smaller. The model makes the long term planning process more efficient and shortens lead times. Prices, costs, accumulated life cycle costs and various types of deviations can be analysed continuously to achieve systematic learning from good examples and failures. In the project follow-up, deviations are automatically divided within the system into causes dependent on time, quantity, and unit price. Control and monitoring with analyses and learning can be made more effective through automatic monitoring against control limits. The concept of quality-related accounting of road capital should be a part of the international discussion around models for Transportation Asset Management (TAM).QC201007723
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Xie, Yuying, and 谢宇莹. "Role of accounting conservatism in asset and equity tunneling: evidence from Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2010. http://hub.hku.hk/bib/B44549349.
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Hayoun, Shaul. "Towards accounting semiology : an interdisciplinary re-conceptualisation of IFRS asset recognition and measurement." Thesis, University of Edinburgh, 2018. http://hdl.handle.net/1842/29576.
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In the spirit of interdisciplinary critical accounting studies and in light of the IASB’s on-going Conceptual Framework project, this thesis problematises and proposes a re-conceptualisation of two fundamental financial accounting practices: recognition and measurement of assets. In order to do so, the thesis steps outside financial accounting’s conventional disciplinary resources of economics and finance. It proposes to mobilise Ferdinand de Saussure’s semiology, which, defined as a theory of social sign systems, provides a meaningful delineation of financial accounting as a purposeful sign technology. With such a lens and with a research approach of going beyond IASB’s proclaimed concepts and narrative to its nuanced prescriptions, the thesis challenges taken-for-granted assumptions with regard to the market-based nature of Fair Value measurement and the characterisation of judgement involved in recognition. With respect to value measurement, the thesis harness semiology to fracture the dichotomy between the market and the entity perspectives, which is generally assumed in extant accounting research and policy-making. It is shown how the IASB’s Fair Value measurement prescriptions demonstrate semiology's two-dimensional 'value constellation', where the asset’s value is not merely relational (and not intrinsic) but, importantly, relational in two distinct dimensions. It is a product, first, of differentiation from other values in the market and, second, of interrelation with other values in the specific entity. With a semiological theorisation of the financial statement, market-based and entity-specific perspectives serve as complementary inputs rather than contradictory outputs. With respect to recognition, the thesis proposes to shift the locus of judgment from questions of recognition thresholds (probability and reliability) to the under-investigated issue of the asset’s separability from the firm’s general cash flow. It is shown how the IASB’s procedures manifest the semiological principle of ‘reciprocal articulation’: accounting entities (e.g., ‘assets’) are not passive representations of pre-existing economic resources, but rather a product of delimiting – carving out – the asset/resource from the broader category (or the entire firm). With such theorisation, the crux of recognition is separability, which is never natural or technical, but rather anchorless and reciprocal. The thesis thereby sheds light on the plasticity of recognition for both tangible and intangible assets. With its theory-informed analysis the thesis offers a set of conceptual instruments – value constellation and reciprocal articulation – as the logic of the balance sheet as a sign technology: its semio-logic. With Saussure’s ground-breaking linguistic semiology, it offers a parallel financial-numeric semiology: an Accounting Semiology.
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Lee, Kuan-Hui. "Liquidity risk and asset pricing." Columbus, Ohio : Ohio State University, 2006. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1155146069.
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Wickerath, Susanne. "Definitions of an intangible asset : in context with HGB, IFRS and US-GAAP." Thesis, University of Skövde, School of Technology and Society, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:his:diva-2257.
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This Bachelor thesis deals with the definition of Intangible Assets in the context of
financial reporting. The purpose is to integrate intangible assets into the balance
sheet. After a thorough analysis of the ongoing research shows that there is general
consensus concerning intellectual property, and general confusion concerning
knowledge, information and organization capital. Some have what it takes to enter
balance sheets, while others still lack a holistic concept that is generally accepted
and fulfils the demand of accounting. Neither of them is reported according to the
presently available and established knowledge. This thesis shows that a prerequisite
for an improved reporting is the consequential extension of accounting principles for
intangible assets. The fact that the term “intangible asset” became a gathering of all
possible intangible phenomena demands counter-actions. One of its reasons is the
demand for the measurement of relative performances of intangible assets. This
thesis shows that reporting absolute figures for intangible assets does not stand in
contrast with this, but can deliver the necessary data set for a holistic analysis that
also deals with intangible assets.
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Harrington, Jason. "The Impact of IFRS Adoption on Intangible Asset Accounting Treatment and Marketplace Decision-Making." Scholarship @ Claremont, 2016. http://scholarship.claremont.edu/cmc_theses/1463.
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While the international accounting community has widely adopted International Financial Reporting Standards (IFRS), the United States has remained independent, using United States Generally Accepted Accounting Principles (US GAAP). While the standards are similar in many ways, there are some crucial differences between the two. I analyze the differences between IFRS and GAAP accounting treatment in regards to intangible assets. I present theoretical scenarios and leverage previous studies in order to conclude the overall effect mandatory IFRS adoption would have on both investor and managerial decision-making. I conclude that IFRS adoption would have both positive and negative effects on the accuracy of financial reporting and decision-making. The main negative consequence identified is the ability for management of earnings by corporations. However, I concluded that educated investors should not be affected, as both US GAAP and IFRS require sufficient financial statement presentation and disclosures.
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Hsu, Hsiao-Tang. "Comparison of Long-Lived Asset Impairments under US GAAP and IFRS." Diss., Temple University Libraries, 2014. http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/242160.
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Business Administration/AccountingPh.D.
In this dissertation I investigate and compare the impairments of long-lived operating assets under US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS) from different perspective, including the informativeness, determinants, and market valuation of asset impairments. A firm invests in long-lived operating assets with the expectation of generating future benefit. The decision or recognition of asset impairments implies such future benefit is expected to be lower than originally estimated. US GAAP and IFRS both require the recognition of impairment losses but their standards and accounting approaches are different in several ways. These distinctions raise the question whether the reported long-lived asset impairments under US GAAP and IFRS are comparable and motivate this dissertation. I investigate the predictive ability of reported asset write-offs for firms' future performance and find negative associations suggesting the informativeness of impairment losses. But such informativeness depends on the type of assets impaired, the accounting standards adopted, and the institutional characteristics. In general, aggregate impairments are persistently associated with future performance under IFRS but not US GAAP. The impairments of tangible assets have more predictive ability than those of intangibles. For IFRS adopters, enforcement takes a more important role in determining the informativeness of asset impairments than legal origins. I also examine the determinants and attributes of asset impairments under US GAAP and IFRS. I find both of them reflect certain economic factors and reporting incentives. Under US GAAP asset impairments strongly reflect GDP growth, unemployment rate, industry-trend and reporting incentives, including taking a big bath and income smoothing. Under IFRS the impairments reflect most economic factors but less reporting incentives. However, when enforcement is low in IFRS countries, firms tend to manage earnings through asset write-offs. I further address the market valuation of asset write-offs under US GAAP and IFRS. The reporting of asset impairments improves the explanatory power of accounting information for equity prices under IFRS but not US GAAP, especially when enforcement is high. The associations between asset write-offs and equity prices under IFRS in high enforcement countries are significantly different from those under US GAAP, implying investors weigh reported impairments under IFRS. I also use stock returns as an alternative metric of market valuation. Under US GAAP, asset write-offs are negatively associated with past, current, and future stock returns. Under IFRS in high enforcement countries the effects of impairment loss concentrate on past and current stock returns. The results of comparisons suggest asset write-offs under US GAAP and IFRS are not totally comparable from a market perspective. This dissertation contributes to literature on special items, impairment accounting, and reporting under IFRS. It is also related to the comparability of financial reporting under US GAAP and IFRS. While studies have compared overall properties of the two standards, examining the differences in a specific accounting area is also important as U.S. SEC express concern about the convergence of different accounting standards and whether U.S. should incorporate IFRS into its financial reporting systems.
Temple University--Theses
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Zepf, Jackson. "Inspiring Change in Intangible Asset Valuation and Identification." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1852.
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This paper will cover the reasons as to why the current accounting standards have not been updated as necessary to account for the newly developed, intangible assets or “pho-assets” that companies are either generating or using for future economic benefit. This paper will cover a brief background on the current accounting standards for intangible asset valuation and identification and why they are not sufficient for the current accounting environment. Within this review of the accounting standards, this paper will highlight how the changing financial world has given rise to these new intangible assets, and why current regulations do not allow firms to recognize all the assets that it truly should have on its books, thereby not allowing firms to realize or gain precious valuation. Furthermore, I will provide evidence as to why the accounting standards have made it difficult for investors to properly gauge the risk of intangible investments due to the inconsistencies in valuation that the current standards produce.
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Calegari, Michael Joseph. "The impact of capital gains taxation on asset prices, realization behavior, and trading volume." Diss., The University of Arizona, 1996. http://hdl.handle.net/10150/290594.
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The lock-in effect discourages investors from switching investments in a portfolio that is no longer optimal. It is possible, however, that the negative impact of the lock-in effect on gain realizations can be offset by the positive impact of capital gains taxes on the demand for risky assets when losses are not subject to special restrictions. While previous studies have examined the impact of the lock-in effect of current capital gains taxes on realization behavior (e.g., Feldstein, Slemrod, and Yitzhaki, 1980; Burman and Randolph, 1994) and the impact of the variance-reduction effect of future capital gains taxes on the demand for risky assets (e.g., Mossin, 1968; Stiglitz, 1969), there is little extant research that analyzes the impact of both current and future capital gains taxes on portfolio composition. This dissertation examines the impact of capital gains taxation on individual investor behavior in a proportional income tax regime. I study this problem using two different approaches. First, I develop a single period general equilibrium model to derive propositions regarding the impact of capital gains taxation on portfolio diversification. Second, I examine the impact of capital gains taxation in a multiperiod experimental asset market similar to the "bubbles" markets described in Smith, Suchanek, and Williams (1988). The experimental results show that realization behavior in markets with constant rate capital gains taxation are not significantly different than that in tax-free markets. Moreover, both analytical and experimental results indicate that capital gains taxation has a significant impact on prices and realization behavior when the tax rate on current capital gains is different than the expected tax rate on future capital gains. These results are consistent with evidence presented in Burman and Randolph (1994) which suggest that the inverse relationship between gain realizations and the capital gains tax rate is driven by temporary differences between current and future tax rates rather than the permanent level of the capital gains tax rate.
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Mashruwala, Shamin D. "The impact of accounting smoothing on asset allocation in corporate pension plans : evidence from the U.K. /." Thesis, Connect to this title online; UW restricted, 2007. http://hdl.handle.net/1773/8835.
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Shim, Young Soo. "INVESTIGATING THE DETERMINANTS AND ENDOGENOUS INFLUENCES OF ENVIRONMENTAL REPUTATION." OpenSIUC, 2017. https://opensiuc.lib.siu.edu/dissertations/1459.
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AN ABSTRACT OF THE DISSERTATION OF Young Soo Shim, for the Doctor of Philosophy degree in Accountancy, presented on 03/10/2017, at Southern Illinois University Carbondale. TITLE: INVESTIGATING THE DETERMINANTS AND ENDOGENOUS INFLUENES OF ENVIRONMENTAL REPUTATION MAJOR PROFESSOR: Dr. Royce D. Burnett This study investigates (1) the determinants of a firm’s environmental reputation and (2) the impact of this reputation on employee productivity and financial performance. I extend existing work in this area by focusing on both the endogenous and exogenous benefits of the reputation. The endogenous benefits refer to positive impacts of the reputation on employee morale and employee productivity, which have generally been ignored by prior research. In developing my research hypotheses, I draw on the following five well-established theories: the costly signaling theory, the resource-based view of firm, the Porter’s eco-efficiency perspective, the social identity theory, and the third-person effect theory. A sample of 271 companies was drawn from the 500 largest U.S. public companies listed in the 2010 Newsweek’s green report. The corporate environmental data for this study were gathered from this report. Meanwhile, the corporate financial data were obtained from the Mergent database. Via multiple regression analyses, I find (1) environmental reputation is significantly and positively predicted by environmental management when firm environmental reputation is high; (2) environmental reputation is significantly and positively related to environmental performance when firm environmental reputation is low; (3) across the board, environmental reputation does not predict employee productivity; (4) environmental reputation is a significant and positive predictor of financial performance only for firms with high environmental reputation; and (5) employee productivity positively and significantly predicts financial performance only for firms with a high environmental reputation.
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Haboub, Ahmad. "Essays on equity valuation and accounting conservatism for insurance companies." Thesis, Brunel University, 2017. http://bura.brunel.ac.uk/handle/2438/15823.
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This thesis contributes to the literature in the finance and accounting field throughout its three empirical chapters. The first empirical chapter contributes to the literature on accounting conservatism in several ways; first, it investigates the accounting conservatism of US insurance companies using four measures, namely, non-operating accruals, skewness of earnings and cash flows, book to market ratio and asymmetric timeliness measures. Second, this paper compares these four measures in order to determine the association and differences between them. Finally, the level of accounting conservatism of the insurance companies is compared to that of a sample of commercial banks to check whether they have similar levels of accounting conservatism. The results of the first chapter suggest that the changes in accounting performance, as measured by return over assets, can be partly explained by accounting conservatism, since it is measured by the accumulation of non-operating accruals, skewness of operating cash flow and accruals, book to market ratio, adjusted book to market ratio and Basu's asymmetric measure. All of these four measures give robust evidence that insurance companies' accounts tended to be conservative for the whole sample period, and that the level of conservatism has risen over the years. More interestingly, a t test for the differences in means suggests that accruals conservatism show on average a higher level of accounting conservatism than book value conservatism does. Finally, our results, based on a constant sample consist of 92 banks and 46 insurance companies whose data are available for all the sample years; they suggest that both insurance companies and banks have similar levels of accounting conservatism due to their similar reporting characteristics. The second empirical chapter contributes to the existing literature on equity valuation in two ways. First, it confirms the importance of imposing linear information dynamics when predicting the equity values of insurance companies, because the restricted models result in fewer error metrics. Second, it highlights the role of the accruals components in the equity valuation of US insurance companies by demonstrating that the incorporation of accrual components in the residuals income valuation model suggested by Ohlson (1995) has smaller error metrics than those of aggregate net income. Our results are based on a sample of US insurance companies, which consists of 718 firm-year observations over the period from 2001 to 2012. For instance, our results suggest that total accruals, changes in insurance reserve, changes in account receivables, and deferred acquisition costs have an incremental ability to predict equity market value over abnormal earnings and book values. Furthermore, the predictive ability of changes in insurance reserves is higher than the predictive ability of changes in account receivables and the change in deferred acquisition costs without imposing the LIM structures. However, when the LIM structure is imposed the predictive ability of changes in deferred acquisition costs is higher than the predictive ability of both changes in accounts receivable and changes in insurance reserves. Our final empirical chapter contributes to the literature on accounting anomalies by investigating the value to price anomaly (V/P), where the fundamental value (V) is estimated using the residual income valuation model. Motivated by the findings of Hwang and Lee (2013), Fama and French (2015), and Fama and French (2016), Chapter Four asks whether V/P strategies reflect the risks factor or whether this is better explained by market inefficiency, and whether Fama and French's five-factor model can explain the excess return of V/P. To answer the previous questions we use data from the merger of COMPUSTAT, CRSP, I/B/E/S for all the non-financial firms listed in AMEX, NYSE, and NASDAQ during the period from 1987 to 2015. Our findings suggest that the V/P ratio is positively correlated to future stock returns after controlling for several firm characteristics, which are known to be proxies of common risks. Our results indicate that the omission of risk factors is not likely to be an explanation of the V/P effect. To answer the second question, we compare the performances of different asset pricing models by calculating the GRS F-statistics. Our findings clearly indicate that the five-factor model of Fama and French performs better than either the CAPM or the traditional Fama and French three factor model. These results confirm that the excess returns of V/P strategy vary due to the differences in size, the B/M ratio, operating profit and betas across quintile portfolios. However, these factors cannot explain all the variation in excess returns; moreover, the stocks in the high V/P may be riskier than the stocks in the low V/P portfolios in certain other dimensions.
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Bartkutė, Indrė. "Ilgalaikio materialiojo turto apskaita ir analizė (UAB „Mintuva“ pavyzdžiu)." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2006. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2006~D_20060602_143524-28735.
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Regulations and practical problems of accounting of fixed asset were analysed in the present paper; also, suggestions for solving the problems were presented and analysis of fixed asset in the period of three years was carried out on the example of JSC “Mintuva”. Definitions of fixed assets by Lithuanian and foreign authors, its classification’s meaning in accounting and peculiarities were analysed as well. Moreover, present legislations regulating accounting of fixed asset and their major changes were explored. Analysis of dynamics of the structure of fixed asset was carried out. Indexes of enterprise’s fixed asset’s turnover profitability were calculated, factors which had influenced their change were investigated; also, a prognosis of indexes for a period of three years was worked out. Recommendations on improvement of enterprise’s accounting of fixed asset and indexes of its analysis were presented.
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Nguyen, Quyen. "Capital structure, asset redeployability, top-management compensation and credit risk measurements : the impact of the on and off-balance sheet financing." Thesis, University of Southampton, 2014. https://eprints.soton.ac.uk/372411/.
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With the existence of loopholes in the accounting rules, firms have been able to keep many assets and their corresponding debt off the balance sheets, thus, hiding the true value of debt and firm financial risk (Ketz (2003), Franzen et al. (2009) and Koller et al. (2010)). Graham and Leary (2011) point out that one of the noticeable gaps in the capital structure research area is the mis measurement of leverage when off-balance sheet financing is excluded. Therefore, this thesis bridges the mis-measurement gap by adjusting leverage for three important off-balance sheet debt equivalents and two on-balance sheet ones. Moreover, this study investigates the relationships between asset redeployability, top-management compensation and both adjusted and non-adjusted leverage as well as examines whether these on and off-balance sheet debt equivalents are reflecte in credit risk measurements. Focusing on large US firms from 1996 to 2010, my results show that the off-balance sheet debt equivalents account for significantamounts over total reported debt. Also,there is a considerable gap between reported debt and adjusted debt for debt equivalents, and this gap seems to increase sharply over time. I suggest that these debt equivalents should be considered carefully; otherwise, firms' financial health can be misinterpreted. In addition, I document different results for adjusted and non-adjusted leverage which indicates that existing theories related to the conventional capital structure might not be able to give the same explanations to the adjusted one. Moreover, credit risk measurements do not incorporate all of these debt equivalents in their credit risk assessments; which implies that the market may not be fully aware of the importance of these debt equivalents.
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?????, ? ?, and O. P. Driha. "????????-?????????? ???????????? ?????????? ??????????????? ???????" Thesis, ????, 2016. http://eztuir.ztu.edu.ua/123456789/3077.
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?????????? ?? ???????? ????????? ??????? ????????? ??????????? ???? ?? ????????????? 08.00.09 ?????????????? ?????, ?????? ?? ????? (?? ?????? ??????????? ??????????). ? ???????????? ????????? ????????????? ??????????? ???????????? ?????? ? ????? ???????, ???????, 2016.
?????????? ?????????? ????????????? ??????????? ???????? ? ???????? ?????????? ???????????? ? ????????????? ????????-???????????? ???????????? ?????????? ??????????????? ???????. ? ?????? ???????? ???????? ??????? ??????????????? ????????, ???????????? ?? ????????????, ? ????? ??????????? ???????????? ????????, ??? ? ????????? ?????????? ???????????? ? ??????? ?????????????? ???????. ?????????? ??????????? ?????????????-?????????? ?????? ?? ??????????????? ?????? ???????? ?????????????? ??????? ?? ? ?? ??????????, ??? ? ???????? ?????? ??????? ?????? ???????????? ????????? ????????? ????????, ???????? ????????? ???????????? ?? ???????????? ??????????, ? ????? ????????????? ??????? ???????????? ????? ???????? ?? ???????? ??????????????? ?????? ?? ? ????????? ????????????. ???????????? ???????????? ? ???????
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???????????? ??????????????? ??????????? ? ?????????? SPV. ????????????? ??????? ???????? ???????????? ???????????? ???????? ?????????????? ???????.Thesis for obtaining the scientific degree of Candidate of Economic Sciences on specialty 08.00.09 ? accounting, analysis and auditing (by the types of economic activity). ? Zhytomyr State Technological University of Ministry of education and science of Ukraine, Zhytomyr, 2016. The thesis is devoted to grounding of theoretical positions and development of practical recommendations for improving accounting and analytical support of assets' securitization. The essence of the concept ?asset securitization? has been clarified, its classification has been improved as well as business transactions, which are the objects of accounting reflection in the process of securitization of assets have been singled out. ?omplex organizational and methodical approach to accounting transactions for asset securitization for initiator as well as for issuer been developed by separation of components of the accounting policy, the development of primary documents for the relevant transactions as well as improving the accounting reflection of such transactions on accounts and in statements of the company. The necessity and the order of application of accounting outsourcing in the activity of SPV have been grounded.
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Williams, Sarah J., and mikewood@deakin edu au. "The Definition and quantification of assets." Deakin University, 1995. http://tux.lib.deakin.edu.au./adt-VDU/public/adt-VDU20050915.142446.
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The word asset was originally taken into the English language, from the Latin ad satis and French asez, as a term used at law meaning sufficient estate or effects to discharge debts. It later came to be used in the sense of property available for the payment of debts. Assets were understood to be property (objects owned and rights of ownership) that could be exchanged for cash. The importance of factual knowledge of the money equivalents of property and debts, in managing mercantile affairs, was emphasised in accounting manuals during the eighteenth and nineteenth centuries. The rights of investors and creditors to factual up-to-date information about the financial state of affairs of companies, given the advent of limited liability, underscored the early company legislation that required the preparation and auditing of statements of property and debts. During the latter part of the nineteenth century the emphasis in accounting moved away from assets as exchangeable property to assets as deferred costs. Expectations took the place of observables. The abstract (expectational) notion of assets as future economic benefits was embraced by accountants in the absence of rigorous definitions of the elements and functions of dated statements of financial position and performance. Assets are quantified financially by a heterogeneous mass of potentially inconsistent rules that, by and large, have no regard for the empirical nature of measurement. Consequently, accountants have failed to provide the community with up-to-date factual information about the financial state of affairs and performance of business entities - and, hence, with an informative basis for financial action.
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Limkriangkrai, Manapon. "An empirical investigation of asset-pricing models in Australia." University of Western Australia. Faculty of Business, 2007. http://theses.library.uwa.edu.au/adt-WU2007.0197.
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[Truncated abstract] This thesis examines competing asset-pricing models in Australia with the goal of establishing the model which best explains cross-sectional stock returns. The research employs Australian equity data over the period 1980-2001, with the major analyses covering the more recent period 1990-2001. The study first documents that existing asset-pricing models namely the capital asset pricing model (CAPM) and domestic Fama-French three-factor model fail to meet the widely applied Merton?s zero-intercept criterion for a well-specified pricing model. This study instead documents that the US three-factor model provides the best description of Australian stock returns. The three US Fama-French factors are statistically significant for the majority of portfolios consisting of large stocks. However, no significant coefficients are found for portfolios in the smallest size quintile. This result initially suggests that the largest firms in the Australian market are globally integrated with the US market while the smallest firms are not. Therefore, the evidence at this point implies domestic segmentation in the Australian market. This is an unsatisfying outcome, considering that the goal of this research is to establish the pricing model that best describes portfolio returns. Given pervasive evidence that liquidity is strongly related to stock returns, the second part of the major analyses derives and incorporates this potentially priced factor to the specified pricing models ... This study also introduces a methodology for individual security analysis, which implements the portfolio analysis, in this part of analyses. The technique makes use of visual impressions conveyed by the histogram plots of coefficients' p-values. A statistically significant coefficient will have its p-values concentrated at below a 5% level of significance; a histogram of p-values will not have a uniform distribution ... The final stage of this study employs daily return data as an examination of what is indeed the best pricing model as well as to provide a robustness check on monthly return results. The daily result indicates that all three US Fama-French factors, namely the US market, size and book-to-market factors as well as LIQT are statistically significant, while the Australian three-factor model only exhibits one significant market factor. This study has discovered that it is in fact the US three-factor model with LIQT and not the domestic model, which qualifies for the criterion of a well-specified asset-pricing model and that it best describes Australian stock returns.
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Kanakriyah, Raed Muhammad. "The effect of asset impairment (IAS 36) in improving the quality of accounting information according to users' perspective : evidence from Jordan." Thesis, Durham University, 2013. http://etheses.dur.ac.uk/7290/.
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Purpose: The main purpose of this study is to investigate from the users' perspective the influence of adopting IAS 36 'impairment of assets' on accounting information in Jordan and to ascertain the extent to which impairment application can affect users’ decisions. In other words, this study aims to elicit perceptions regarding the motivations and techniques of using impairment loss to discover its effect and role in improving the quality (qualitative characteristics) of accounting information and its impact on the financial statements of users, to assist them in the decision-making process; it also aims to discover whether impairment loss is considered a tool for increasing the credibility of accounting information or a tool for manipulation. To explore the relevance (applicability) of international accounting standards to developing countries such as Jordan is a topic of significant interest amongst accounting information users. Methodology/Approach/Research Questions: This thesis uses a multi-method approach; quantitative and qualitative approaches are both used to collect primary data concerning the 'impairment of assets' phenomenon. Questionnaire and interview surveys are used to explore the motivations and techniques of 'impairment of assets' in Jordan by obtaining the perceptions of respondents. Semi-structured interviews are used to elicit a better understanding of the research questions, confirming and elaborating on the questionnaire survey findings and supporting the development of the hypotheses. The triangulation of findings enables a comprehensive appreciation of the research topic and minimises the possibility of bias resulting from the use of a single method. Analysis and Findings: The first findings are the agreement of the six groups of accounting information users regarding the importance of IAS 36 application, also indicate that there is a significant statistical difference among the respondents' opinions particularly between academics and other groups which indicates that academics were more aware of the importance of applying 'impairment of assets' than the other five groups. A plausible explanation for this result is that academics are more aware that impairment loss depends on market value (fair) instead of historic value, which is more convenient but less reliable. The main conclusion reached through questionnaire and interview survey is the positive impact of 'impairment of assets' on the quality of accounting information according to users' perspective in Jordan. which means there is an impact of impairment on the quality of accounting information, and we assert this finding through correlation that impairment loss depend on market value (fair) instead of historic value, which is more convenient but less reliable . The second finding reveals that two groups of respondents (Accountants and Investors) see impairment as a tool for manipulation. These two groups have similar views that impairment application is considered a technique used to manipulate illegally, in order for managers to achieve their own goals, such as increased compensation (salary), to declare a reasonable profit and avoid a loss, to obtain loans, and to raise share prices. These results can be attributed to scientific knowledge they have about advantages of the application of this standard. Furthermore, interview findings indicate that 68% of all respondents amongst all groups agreed that impairment improves the reliability and credibility of financial reports in Jordan. One of the most important results from the respondents’ views is that impairment announcements provide new information to the market and assist the users to change or modify their decisions. However, interviews showed that investors and accountants have a different view of impairment application, considering it as bad news (weak company), all of these findings will be generalized for developing countries, also will be helpful for developed countries. Research limitations/implications: These findings could be fruitful and helpful for external users of accounting reports and also for regulators and legislators in their attempts to constrain the incidence of earnings management and to enhance the quality of accounting information. The interview sample was quite small (only 14) since some interviewees in developing countries do not like to have their opinions tape-recorded or become worried if notes are taken by devices during the interview as it appears like an interrogation to them. Moreover, in the questionnaire survey, only 324 out of 749 were returned, since access to respondents (Elements sample) was very difficult as they do not stay in the same place. In terms of secondary data, a lack of disclosure limited this study regarding the variables. Contribution: Very few studies concerned with 'impairment of assets' have been conducted on data obtained from financial reports in developed countries. Thus, a different perspective could be obtained from developing countries such as Jordan, which is different in numerous respects, and this will enhance IAS application and provide an accurate picture of impairment practices. Moreover, this study contributes to the literature by employing qualitative and quantitative methods that have not received attention in relation to the effect of monitoring mechanisms.
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Käufer, Anke. "Übertragung finanzieller Vermögenswerte nach HGB und IAS 39 : Factoring, Pensionsgeschäfte und Wertpapierleihen im Vergleich /." Berlin : Erich Schmidt, 2009. http://d-nb.info/994856210/04.
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Kim, Hoyoung. "The Effect of Political Uncertainty on Cost Structure Decisions." Kent State University / OhioLINK, 2021. http://rave.ohiolink.edu/etdc/view?acc_num=kent1625822232437129.
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Dupree, Lee. "Valuation Strategies for Small Businesses' Intangible Assets." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7135.
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Small business owners who attempt to sell their businesses may not receive full value if they do not adequately value their intangible assets. The purpose of this multiple case study was to explore effective strategies business leaders used to value intangible assets when considering the sale of their businesses. The participants for this study were 5 business owners in a metropolitan area in the southeastern United States who had successful valuation experiences during the sale of their businesses. Data were collected through semistructured interviews with participants, methodological triangulation, observations, and review of company documents. Data were analyzed using thematic analysis, coding narrative segments, and reviewing secondary data. The themes that emerged from data analysis include collecting and using company data concerning intangible assets; hiring a reputable accounting firm to assist in valuation; understanding the values of brand, customer base, and goodwill; and choosing the appropriate asset valuation approach. To accurately value the intangible assets of their businesses, the most significant and recurring theme in the participants' responses was the need for assistance from a reputable accounting firm. The implications of this study for positive social change include the potential to enhance the economic investment in local areas where business owners appropriately value intangible assets.
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Mooney, John J. IV. "Adjusting the capital asset pricing model for the short-run with liquidity proxies, while accounting for denials and deceptions in financial markets." Thesis, Monterey, California: Naval Postgraduate School, 2014. http://hdl.handle.net/10945/41419.
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Approved for public release; distribution is unlimited.William Sharpe's 1964 capital asset pricing model relies heavily on an accurate assessment of the asset's sensitivity to the broader market, termed _. By modifying the classic approach to incorporate liquidity of the asset, designated _', short-term return estimates may be improved. Specifically, in this research, the limit order book is used as a short-term proxy for liquidity assessments. Unfortunately, precise data were unavailable to test: however, detailed realistic examples are outlined in order to explore both rationale and critiques of the adjusted model. In light of the adjusted CAPM, modern market conditions, such as the rise in both high-frequency trading and alternative trading systems, are investigated to determine their impact on the model and asset pricing. Parallels can be drawn to appreciate these implementation obstacles under such information operation paradigms as denial, deception, and counterdeception. These topics, the protection of critical information from leakage, as well as the advancement and detection of deliberate misinformation, are increasingly critical for asset pricing. Furthermore, in response to these implementation obstacles, short-term asset pricing research is explored under both the efficient and adaptive market hypotheses. In conclusion, the thesis offers policy makers and regulators recommendations and considerations for the evolving financial landscape.
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Alshabani, Waleed Mohammad. "An investigation of the effects of SFAS No.121 on asset impairment reporting and stock returns." Thesis, University of North Texas, 2001. https://digital.library.unt.edu/ark:/67531/metadc3068/.
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Prior to Statement of Financial Accounting Standards No.121 (SFAS No.121): Accounting for the Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed Of, managers had substantial discretion concerning the amount and timing of reporting writedowns of long-lived assets. Moreover, the frequency and dollar amount of asset writedown announcements that led to a large “surprise” caused the Financial Accounting Standards Board (FASB) and the Securities and Exchange Commission (SEC) to consider the need for a new standard to guide the recording of impairment of long-lived assets. This study has two primary objectives. First, it investigates the effects of SFAS No.121 on asset impairment reporting, examining whether SFAS No.121 reduces the magnitude and restricts the timing of reporting asset writedowns. Second, the study compares the information content (surprise element) of the asset impairment loss announcement as measured by cumulative abnormal returns (CAR) before and after the issuance of SFAS No.121. The findings provide support for the hypothesis that the FASB's new accounting standard does not affect the magnitude of asset writedown losses. The findings also provide support for the hypothesis that SFAS No. 121 does not affect the management choice of the timing for reporting asset writedowns. In addition, the findings suggest that the market evaluates the asset writedown losses after the issuance of SFAS No. 121 as good news for “big bath” firms, while, for “income smoothing” firms, the market does not respond to the announcements of asset writedown losses either before or after the issuance of SFAS No. 121. The findings also suggest that, for “big bath” firms, the market perceives the announcement of asset impairment losses after the adoption of SFAS No. 121 as more credible relative to that before its issuance. This could be because the practice of reporting asset writedowns after the issuance of SFAS No. 121 is under the FASB's authoritative guidance, which brings consistency and comparability in asset impairment reporting.
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Ngwenze, Lizo Archibald. "Investigating the role of human resources in the implementation of the government immovable asset management act and its policy framework." Thesis, Nelson Mandela Metropolitan University, 2013. http://hdl.handle.net/10948/d1020653.
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There is a strong belief amongst human resource specialists, professionals and academics that strategic human-resource management is critical to the success of the business and wellbeing of employees, and the organisation in which they work. There are two sides to human resources, as a strategic partner: Firstly, how it looks and portrays itself; and secondly, how the organisation views the importance of its human capital. Ulrich, Younger, Brockbank and Ulrich (2012) and the RBL Group (2012) identified six human-resource competencies for human resource (HR) practitioners. These not only identify the role they play in an organisation; but they also assist an organisation in achieving its objectives. These competencies, which apply to all HR practitioners, are: strategic positioner, change champion, credible activist, capability builder, technology proponent, innovator, and integrator. The implementation of the Government Immovable Asset Management Act No.19 of 2007 (GIAMA), and its policy implementation, are critical to infrastructural developments, economic development, and skills development, redressing any imbalances from the past and current history, and also developing a public service that assists the country in being internationally competitive. An HR practitioner with a worldview is critical in facilitating one of the most important transformative pieces of legislation. The research problem in this study is to investigate the role of human resources in the implementation of GIAMA and its policy framework in the Eastern Cape Province’s Port Elizabeth Regional Office by the National Department of Public Works. To achieve this objective, a quantitative study was undertaken on the role of human resources as a “strategic partner”. It involved an extensive literature review to assess the role of strategic human resources. An empirical study was later conducted to investigate the role of human resources in the Port Elizabeth Regional Office (from the National Department of Public Works); and how well this office succeeds in playing its assigned role. The conducted survey was compared with the literature review, to determine whether the Port Elizabeth Regional Office’s human resources are in line with the objectives of being a “strategic partner”. The overall findings revealed that the role of human resources is not that of a “strategic partner”. It also revealed that of the six competencies identified by Ulrich et al. (2012) and the RBL Group (2012), none of them could really be viewed as strategic. Notwithstanding the progressive pieces of legislation, it was appalling to receive the outcome, which indicated organisational failure for the past six years (see Figure 1.1). The conclusion of the study indicated that the Port Elizabeth Regional Office (from National Department of Public Works) must implement legislative recommendations as a starting point, and grow from there. The legislation and regulations are very supportive, and encourage innovative thinking – to achieve government goals – and to be on a par with the private sector.
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Федорченко, О. Б. "Організація і методика обліку і аудиту наявності та руху основних засобів." Master's thesis, Сумський державний університет, 2018. http://essuir.sumdu.edu.ua/handle/123456789/71442.
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У роботі досліджено організацію і методику обліку і аудиту наявності та руху основних засобів на досліджуваному підприємстві. Проведена повна автоматизація облікового процесу наявності та руху основних засобів. Основною метою є дослідження теоретичних і практичних аспектів організації обліку і аудиту наявності та руху основних засобів.In the work the organization and methodology of accounting and auditing of availability and movement of fixed assets on the investigated enterprise are investigated. Full automation of the accounting process for the availability and movement of fixed assets has been carried out. The main objective is to study the theoretical and practical aspects of accounting and auditing of the availability and movement of fixed assets.
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Martins, Vinicius Aversari. "Contribuição à avaliação do goodwill: depósitos estáveis, um ativo intangível." Universidade de São Paulo, 2002. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-08032004-170157/.
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O presente trabalho tem como objetivo principal demonstrar que parcela da base de depositantes de instituições financeiras que se utilizam de depósitos (a prazo e a vista) como fonte de financiamento das suas atividades, identificada pelos depósitos estáveis, representa um ativo intangível da instituição depositária. Esse ativo intangível decorrente dos depósitos estáveis, quando passível de identificação específica, explica parte do goodwill da instituição depositária, pelo fato do goodwill ser um ativo residual dependente principalmente da avaliação da empresa como um todo. Sendo o valor do goodwill determinado pela diferença entre o fair value da entidade como um todo, como um ativo único em continuidade, e a soma algébrica dos fair values dos ativos líquidos identificáveis dessa entidade, à medida que novos ativos antes não contabilizados são identificados, está-se explicado a natureza do goodwill, assim como está-se auxiliando na sua atribuição de valor. Portanto a identificação de mais um ativo intangível das instituições financeiras implica na identificação de parcelas componentes do goodwill, que englobava esse ativo intangível antes da identificação do ativo intangível, assim como também implica na explicação econômica de parte do goodwill. Para que o objetivo pudesse ser alcançado, comparou-se as características econômicas e contábeis dos ativos, dos ativos intangíveis e do goodwill com as características econômicas e contábeis dos depósitos estáveis, chegando-se à conclusão de que tais depósitos representam um ativo intangível, identificável em separado e passível de registro contábil. O registro contábil desse ativo intangível nas demonstrações contábeis utilizadas para fins de publicação é atualmente possível somente quando a instituição depositária tiver sido objeto de compra por outra entidade. Caso isso não tenha ocorrido, alternativamente pode-se fazer uso do ativo intangível para fins de controle gerencial. O trabalho também apresenta um caso real de avaliação dos depósitos estáveis como forma de corroborar a possibilidade de identificação e avaliação do ativo intangível decorrente desses depósitos.The main objective of the present work is to demonstrate that a part of the depository base of financial institutions that make use of (time and demand) deposits as a source of funding for their activities, which is identified by stable deposits, represents an intangible asset of the depositary institution. When its specific identification is possible, this intangible asset, which results from the stable deposits, explains a part of the goodwill of the depositary institution, considering that goodwill is a residual asset that mainly depends on the valuation of the company as a whole. As the value of goodwill is determined by the difference between the fair value of the entity as a whole, that is, as a unique asset in a going concern, and the algebraic sum of the fair values of the entitys identifiable net assets, to the extent that new assets are identified, which were not recorded before, the nature of goodwill is explained and its value attribution is enhanced. Hence, the identification of another intangible asset in the financial institutions implies the identification of new parts of the goodwill, which incorporated this intangible asset before the identification of the intangible asset, as well as the explanation of the economic nature of goodwill. To achieve this goal, the economic and accounting characteristics of assets, intangible assets and goodwill were compared to the economic and accounting characteristics of the stable deposits, which led to the conclusion that those deposits represent an intangible asset, which can be identified separately and can be registered in the accounting records. The accounting record of this intangible asset in the financial statements, which are used for publication, is only possible nowadays when the depositary institution has been the target of a purchase by another entity. In case this has not happened, the intangible asset can alternatively be used for management control. The present work also presents a real case of stable deposit valuation, so as to corroborate the possibility of identification and valuation of intangibles resulting from the stable deposits.
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Rasolonjatovo, Hasina Jean Aimé. "La gestion du patrimoine dans l'administration publique : Cas de la commune suburbaine d’Ambohimanga Rova et de la commune rurale de Mahabo." Thesis, Poitiers, 2013. http://www.theses.fr/2013POIT4015/document.
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La gestion du patrimoine est un concept récemment adopté par le secteur public qui consiste d'une manière générale à prendre les décisions, jugées optimales, concernant l'acquisition, la maintenance, le fonctionnement et la disposition des immobilisations. Pour pouvoir prendre ces décisions, plusieurs outils peuvent être retrouvés à l'exemple de la comptabilité des immobilisations. Ces outils forment le système de gestion du patrimoine ou la chaîne de gestion patrimoniale. C'est ce qui est affirmé dans la littérature. Notre étude est accès sur la manière dont ces décisions se prennent au niveau de deux communes malgaches : la commune suburbaine d'Ambohimanga Rova et la commune rurale de Mahabo. L'analyse de plusieurs décisions patrimoniales a permis de déduire par la suite la place potentielle des outils qui ne s'arrête pas seulement à l'aide à la décision mais peuvent constituer également des éléments de légitimation des décisions politiquesThe public asset management which recently adopted by public sector, consists in making decision, considered as optimal, about the acquisition, the maintenance, the operating and the disposition of fixed assets. To make those decisions, several management tools can be found like the fixed assets accounting. Those tools constitute the asset management system. It is what is marked on the research about the asset management. Our study is about the way in which those decisions are made on the level of two malagasy's municipalities: the suburban municipality of Ambohimanga Rova and the rural municipality of Mahabo. The analysis of several decisions implies the potential roles of those tools which does not stop only with the decision-making process but can also constitute elements of legitimation of political decisions
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Feld, Klaus-Peter. "Abbildung konventioneller Asset Backed Securities-Transaktionen im IFRS-Abschluss - Anwendung und kritische Würdigung des Abgangs- und Abbildungskonzepts von IAS 39 und SIC-12 unter Berücksichtigung von Fortentwicklungsmöglichkeiten und Aspekten der Abschlussprüfung." [S.l. : s.n.], 2007. http://nbn-resolving.de/urn:nbn:de:bsz:289-vts-58186.
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Goodwin, J. D. "Audit judgments of revalued non-current assets." Lincoln University, 1994. http://hdl.handle.net/10182/1770.
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The revaluation of non-current assets has become an accepted accounting practice in many countries including the United Kingdom, Australia and New Zealand. This practice has implications for the external auditor who must decide whether to accept a valuation as reasonable and how much evidence to collect to support the decision. This thesis represents the first study to examine audit decision making in this area. Because of the absence of prior research, a series of structured interviews was undertaken with audit partners to identify the main audit issues. The results of these interviews, together with the relevant literature, were used to identify some of the factors that may impact on audit judgments concerning revalued assets. Hypotheses were developed and two complementary experiments were designed to test them. These were based on the premise that client management may be motivated to revalue in order to improve the appearance of the balance sheet, thereby increasing the inherent risk of misstatement. A 2 x 2 between-subjects design was used for both experiments, and the dependent variables measured were estimates of the planned audit hours to be spent on the revalued assets and likelihood judgments that the valuations would be accepted as reasonable. Experiment One considered the situation where auditors are faced with two conflicting risks which are likely to exist simultaneously in the audit environment. These were the threat of litigation arising from the client's breach of a debt covenant and the risk of losing the client. The study examined auditors' responses to high and low levels of these risks on the audit of revalued owner-occupied property and an investment property. For the planned audit hours, results indicated a strong interaction effect between the two factors, with auditors planning to spend significantly more time on the audit of revalued assets when both the risk of breaching a debt covenant was high and the risk of losing the client was low. Similar results were found for the likelihood judgment that the valuations would be accepted as reasonable, except that for the investment property the results were only marginally significant. Experiment Two examined the impact of a proposal to issue shares to the public and the competence of the independent valuer on the audit of four classes of non-current assets. Results indicated that auditors would plan to spend longer on the audit of revalued assets when the client proposed to make a share issue and also when the competence of the valuer was lower. They were also less likely to accept the valuations as reasonable in these cases. However, an interaction effect between class of asset and competence of the valuer indicated that concern with some aspects of the evidence could override subjects' sensitivity to the competence of the valuer. An additional finding was a significant experience effect for the likelihood judgments, based on the number of audits, in which subjects had been involved, that had included asset revaluations. More experienced subjects were more likely than less experienced subjects to accept the valuations as reasonable.
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Akuh, Comfort G. "Small Retail Business Strategies to Detect and Prevent Employee Fraud." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4266.
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Small businesses have an important role to play in the U.S. economy. However, employee fraud can jeopardize the sustainability of small businesses. Grounded on Cressey's fraud triangle theory, the purpose of this multiple case study was to explore strategies used by selected managers and owners of small retail businesses to detect and prevent employee fraud. Ten participants from 5 small retail businesses participated in the study. Nine participated in a face-to-face semistructured interview, and 1 participated in a telephone interview. These participants included 5 owners and 5 managers of small retail businesses in the state of Michigan in the United States who have implemented strategies to detect and prevent employee fraud. Through a process of methodological triangulation, casual observations and documentary evidence supplemented data collected through semistructured interviews. Using thematic analysis by coding narrative segments, the research findings included themes of controls and communication, cash register accountability, segregation of duties, monitoring, and action against perpetrators. Managers and owners of small businesses may benefit from the findings of this study by gaining awareness of the need to detect and prevent employee fraud. The implications for positive social change may include the potential to increase appropriate controls over employee fraud, thus enabling owners of small retail business an opportunity to operate effectively and efficiently, which could increase employment opportunities. Increased employment opportunities could create a positive effect on other small retail businesses and allow local communities to prosper.
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Liszbinski, Bianca Bigolin. "Implicações provocadas pela convergência às normas internacionais de contabilidade no reconhecimento de ativos intangíveis sob a perspectiva institucional: um estudo em empresas brasileiras de capital aberto." Universidade do Vale do Rio dos Sinos, 2013. http://www.repositorio.jesuita.org.br/handle/UNISINOS/4197.
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Este estudo teve por objetivo analisar as implicações provocadas pela adoção da normativa International Accounting Standard (IAS) 38 no reconhecimento contábil de ativos intangíveis em um grupo de empresas brasileiras, à luz da teoria institucional. Trata-se de estudo descritivo de evidências qualitativas e quantitativas que envolveu basicamente a consulta em demonstrações contábeis de uma amostra de cinquenta empresas classificadas no Índice Bovespa da BM&FBOVESPA. Optou-se em delimitar o estudo entre os anos de 2006 à 2012, visto que este espaço temporal compreende exercícios caracterizados pela antecedência à adoção da norma internacional de contabilidade relativa a intangíveis e exercícios com a institucionalização dessa nova normativa. A análise dos dados consistiu em duas fases principais. Primeiramente, verificaram-se os procedimentos adotados pelas empresas para o reconhecimento dos ativos intangíveis e a sua adequação aos padrões contábeis compulsórios que tangenciam este processo. Posteriormente, fez-se a identificação das classes de intangíveis reconhecidas no período e a sua respectiva valorização. Em geral, as evidências observadas demonstram que a implementação da nova matriz institucional sobre os intangíveis repercutiu nas práticas adotadas pelas empresas. O nível de conformidade aos padrões estabelecidos para o reconhecimento contábil dos ativos intangíveis passou de 32% no ano de 2006 para 84% no ano de 2012, demonstrando uma evolução na harmonização das práticas adotadas pelas empresas. Adicionalmente, embora não constatado aumento dos tipos de categorias reconhecidas após a institucionalização da nova normativa, identificou-se um significativo incremento na representatividade dos ativos intangíveis frente ao ativo total da amostra. Os valores médios contabilizados como intangíveis aumentaram 82% comparandose o período anterior e posterior à adoção desta norma.
This study aimed to analyze the implications caused by the adoption of the International Accounting Standard (IAS) 38 normative in accounting recognition of intangible assets in a group of Brazilian companies, guided by the institutional theory. It is a descriptive study of qualitative and quantitative evidences which involved basically the consult enquiry of financial statements of a fifty-company sample classified in the BM&FBOVESPA Bovespa Index. It was chosen to restrict the study from 2006 to 2012, since this period of time embraces exercises characterized by the adoption in advance of the international accounting related to intangibles and exercises with the institutionalization of this new normative. The data analysis consisted in two main phases. Primarily, the procedures adopted by the companies to the recognition of the intangible assets and its adaptation to the compulsory accounting standards which relates this process were verified. Subsequently, it was identified the classes of intangibles recognized in the period and its respective valuation. In general, the evidences observed show that the implementation of the new institutional matrix about the intangibles reflected on the practiced adopted by the companies. The level of compliance passed from 32% in 2006 to 84% in 2012, showing an evolution on the harmonization of the practices adopted by the companies. Furthermore, although a raise of kinds of categories recognized after the institutionalization of the new normative was not determined, a significant increase on the representativeness of the intangible assets facing the total asset of the sample was identified. The mean values counted as intangibles increased 82% comparing to the previous and subsequent periods to the adoption of this norm.