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Mesa G.s. - One of the best experts on this subject based on the ideXlab platform.

  • Homologation of accounting policies for consolidation of Financial Statements of the public sector [Homologación de políticas contables para consolidación de estados financieros del sector público]
    'Grupo Compas', 2021
    Co-Authors: Quintero D.p., Mesa G.s.
    Abstract:

    In the process of preparing the Consolidated Financial Statements for the Public Sector, the approval of accounting policies between the controlling entity and its subsidiaries is required. Therefore, the objective of this article was to elaborate the process required for the homologation of the accounting policies for the elements of property, plant and equipment, investment properties and inventories and their accounting implications. To carry out this study, a qualitative descriptive investigation was used using a method, applied in science and practice, followed by an analysis and comparison of data. In conclusion, it was found that the selected companies use the same accounting policy for the elements of property, plant and equipment and inventories and therefore, it is not required to approve these items; however, for the element of investment properties, the approval of policies is required, which implies an increase or decrease in the profits of the controlled company. © Universidad del Zulia. All rights reserved

  • Homologación de políticas contables para consolidación de estados financieros del sector público
    'Grupo Compas', 2021
    Co-Authors: Quintero D.p., Mesa G.s.
    Abstract:

    In the process of preparing the Consolidated Financial Statements for the Public Sector, the approval of accounting policies between the controlling entity and its subsidiaries is required. Therefore, the objective of this article was to elaborate the process required for the homologation of the accounting policies for the elements of property, plant and equipment, investment properties and inventories and their accounting implications. To carry out this study, a qualitative descriptive investigation was used using a method, applied in science and practice, followed by an analysis and comparison of data. In conclusion, it was found that the selected companies use the same accounting policy for the elements of property, plant and equipment and inventories and therefore, it is not required to approve these items; however, for the element of investment properties, the approval of policies is required, which implies an increase or decrease in the profits of the controlled company. © Universidad del Zulia. All rights reserved

Myungsun Kim - One of the best experts on this subject based on the ideXlab platform.

  • comparative value relevance among german u s and international accounting standards a german stock market perspective
    Journal of Accounting Auditing & Finance, 2005
    Co-Authors: Eli Bartov, Stephen R Goldberg, Myungsun Kim
    Abstract:

    In recent years, German companies have reported Consolidated Financial Statements under German GAAP, U.S. GAAP, or International Accounting Standards (IAS). Market observers, researchers, and regulators have argued that Financial Statements prepared under the shareholder (or investor) model, such as U.S. GAAP or IAS, provide better information than Financial Statements prepared under the stakeholder model (German GAAP). They further have argued that U.S. GAAP is more rigorously defined and, therefore, provides information superior to that under IAS. We investigate comparative value relevance, measured as the slope coefficient of the returns/earnings regression. Within our sample of German companies traded on German stock exchanges, the value relevance of U.S. GAAP- and IAS-based earnings is higher than that of German GAAP-based earnings. Our result holds only for profit observations, suggesting that reporting regime does not have an influence on the quality of earnings in the case of loss firms. However, ...

  • comparative value relevance among german u s and international accounting standards a german stock market perspective
    2002
    Co-Authors: Eli Bartov, Stephen R Goldberg, Myungsun Kim
    Abstract:

    In recent years, German companies report Consolidated Financial Statements under German GAAP, U.S. GAAP, or International Accounting Standards (IAS). Market observers, researchers, and regulators have argued that Financial Statements prepared under the shareholder (or investor) model, such as U.S. GAAP or IAS, provide better information than Financial Statements prepared under the stakeholder model (German GAAP). They further have argued that U.S. GAAP is more rigorously defined and, therefore, provides superior information to IAS. We investigate comparative value relevance, measured as the slope coefficient of the returns/earnings regression. Our results are consistent with expectations. Within our sample of German companies traded on German stock exchanges, value relevance of U.S. GAAP based earnings is higher than that of IAS based earnings, which in turn is more value relevant than earnings produced under German GAAP. A major contribution of this research is that, unlike prior research, we measure stock returns for all sample firms in the German stock market only, and therefore are not reliant on the perhaps strong assumption underlying prior studies of similarity of pricing across markets domiciled in different countries.

Quintero D.p. - One of the best experts on this subject based on the ideXlab platform.

  • Homologation of accounting policies for consolidation of Financial Statements of the public sector [Homologación de políticas contables para consolidación de estados financieros del sector público]
    'Grupo Compas', 2021
    Co-Authors: Quintero D.p., Mesa G.s.
    Abstract:

    In the process of preparing the Consolidated Financial Statements for the Public Sector, the approval of accounting policies between the controlling entity and its subsidiaries is required. Therefore, the objective of this article was to elaborate the process required for the homologation of the accounting policies for the elements of property, plant and equipment, investment properties and inventories and their accounting implications. To carry out this study, a qualitative descriptive investigation was used using a method, applied in science and practice, followed by an analysis and comparison of data. In conclusion, it was found that the selected companies use the same accounting policy for the elements of property, plant and equipment and inventories and therefore, it is not required to approve these items; however, for the element of investment properties, the approval of policies is required, which implies an increase or decrease in the profits of the controlled company. © Universidad del Zulia. All rights reserved

  • Homologación de políticas contables para consolidación de estados financieros del sector público
    'Grupo Compas', 2021
    Co-Authors: Quintero D.p., Mesa G.s.
    Abstract:

    In the process of preparing the Consolidated Financial Statements for the Public Sector, the approval of accounting policies between the controlling entity and its subsidiaries is required. Therefore, the objective of this article was to elaborate the process required for the homologation of the accounting policies for the elements of property, plant and equipment, investment properties and inventories and their accounting implications. To carry out this study, a qualitative descriptive investigation was used using a method, applied in science and practice, followed by an analysis and comparison of data. In conclusion, it was found that the selected companies use the same accounting policy for the elements of property, plant and equipment and inventories and therefore, it is not required to approve these items; however, for the element of investment properties, the approval of policies is required, which implies an increase or decrease in the profits of the controlled company. © Universidad del Zulia. All rights reserved

Axel Haller - One of the best experts on this subject based on the ideXlab platform.

  • Financial accounting developments in the european union past events and future prospects
    European Accounting Review, 2002
    Co-Authors: Axel Haller
    Abstract:

    The decision of the Commission of the European Union (EU) to oblige listed European companies, from 2005 onwards, to establish their Consolidated Financial Statements according to IFRS (IAS) represents a preliminary peak in the internationalization process of Financial accounting in Europe. The purpose of this paper is to highlight the landmarks of accounting developments in the EU since the Fourth and Seventh Directives and to reveal the obvious internationalization process of Financial accounting in the EU, which has accelerated considerably during the last ten years. Owing to the considerable pressures exerted by market forces, a clear convergence of accounting practice as well as of the regulatory frameworks of the EU and its Member States with IFRS (IAS) is recognizable. The harmonization effects of the market forces on national regulators and companies appear to be much larger than those of the Fourth and Seventh Directives. In addition to the explanation and reasoning behind past developments, this...

  • Financial accounting developments in the european union past events and future prospects
    Social Science Research Network, 2002
    Co-Authors: Axel Haller
    Abstract:

    The decision of the Commission of the European Union (EU) to oblige listed European companies, from 2005 onwards, to establish their Consolidated Financial Statements according to IFRS (IAS) represents a preliminary peak in the internationalisation process of Financial accounting in Europe. The purpose of this paper is to highlight the landmarks of accounting developments in the EU since the 4th and 7th Directive and to reveal the obvious internationalisation process of Financial accounting in the EU, which has accelerated considerably during the last ten years. Due to the considerable pressures exerted by market forces, a clear convergence of accounting practice as well as of the regulatory frameworks of the EU and its member states with IFRS (IAS) is recognisable. The harmonization effects of the market forces on national regulators and companies appear to be much larger than those of the 4th and 7th Directive. In addition to the explanation and reasoning behind past developments, this paper also discusses some future prospects of Financial reporting within the EU and identifies some of its major challenges.

Eli Bartov - One of the best experts on this subject based on the ideXlab platform.

  • comparative value relevance among german u s and international accounting standards a german stock market perspective
    Journal of Accounting Auditing & Finance, 2005
    Co-Authors: Eli Bartov, Stephen R Goldberg, Myungsun Kim
    Abstract:

    In recent years, German companies have reported Consolidated Financial Statements under German GAAP, U.S. GAAP, or International Accounting Standards (IAS). Market observers, researchers, and regulators have argued that Financial Statements prepared under the shareholder (or investor) model, such as U.S. GAAP or IAS, provide better information than Financial Statements prepared under the stakeholder model (German GAAP). They further have argued that U.S. GAAP is more rigorously defined and, therefore, provides information superior to that under IAS. We investigate comparative value relevance, measured as the slope coefficient of the returns/earnings regression. Within our sample of German companies traded on German stock exchanges, the value relevance of U.S. GAAP- and IAS-based earnings is higher than that of German GAAP-based earnings. Our result holds only for profit observations, suggesting that reporting regime does not have an influence on the quality of earnings in the case of loss firms. However, ...

  • comparative value relevance among german u s and international accounting standards a german stock market perspective
    2002
    Co-Authors: Eli Bartov, Stephen R Goldberg, Myungsun Kim
    Abstract:

    In recent years, German companies report Consolidated Financial Statements under German GAAP, U.S. GAAP, or International Accounting Standards (IAS). Market observers, researchers, and regulators have argued that Financial Statements prepared under the shareholder (or investor) model, such as U.S. GAAP or IAS, provide better information than Financial Statements prepared under the stakeholder model (German GAAP). They further have argued that U.S. GAAP is more rigorously defined and, therefore, provides superior information to IAS. We investigate comparative value relevance, measured as the slope coefficient of the returns/earnings regression. Our results are consistent with expectations. Within our sample of German companies traded on German stock exchanges, value relevance of U.S. GAAP based earnings is higher than that of IAS based earnings, which in turn is more value relevant than earnings produced under German GAAP. A major contribution of this research is that, unlike prior research, we measure stock returns for all sample firms in the German stock market only, and therefore are not reliant on the perhaps strong assumption underlying prior studies of similarity of pricing across markets domiciled in different countries.