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A Comparison And Contrast Of German And International Financial Reporting Issues Fair Value Accouting Current Issues And Possible Solutions
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Book Synopsis A comparison and contrast of German and international financial reporting issues. Fair Value Accouting - current issues and possible solutions by : Andre Tentscher
Download or read book A comparison and contrast of German and international financial reporting issues. Fair Value Accouting - current issues and possible solutions written by Andre Tentscher and published by GRIN Verlag. This book was released on 2006-08-28 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Business economics - Accounting and Taxes, grade: 1.7, University of Bayreuth (School of Law, Economics and Business Administration ), course: 'business taxation and auditing' , language: English, abstract: Huge changes arose in the world of economy during the last decade. Due to globalisation and competition for scarce capital1 a heightened discussion regarding different national accounting policies emerged. There has been an intensive controversy between continental-European and Anglo-American based accountancy. All companies listed on a stock exchange in the EU are obliged to present their group accounts in accordance with IAS/IFRS2 from 2005 on. One crucial aspect of IRFS focuses on the increasing tendency to recognise a fair value which implies a departure from historical cost-based financial statement to a rather market value-based one. Subsequently, this paper introduces and compares the current valuation bases of the German commercial/tax law and IRFS. Because of the increasing importance of IFRS the major point reflects this consideration. Finally, contrasts will be emphasised and opportunities for a complete takeover of an advanced fair value accounting to German accountancy will be examined. For this reason a reference to the general objectives and principles both of the accountancies is inevitable and will be introduced in either case.
Book Synopsis Globalisation and Contextual Factors in Accounting by : Eva Heidhues
Download or read book Globalisation and Contextual Factors in Accounting written by Eva Heidhues and published by Emerald Group Publishing. This book was released on 2012-03-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research monograph critically examines convergence of financial reporting in Germany by taking into account the influence of political, social and economic factors on accounting. This study makes an original and significant contribution by examining issues and biases in the convergence process that may challenge the assumption of superiority,
Book Synopsis Globalisation and Convergence of Accounting by : Eva Heidhues
Download or read book Globalisation and Convergence of Accounting written by Eva Heidhues and published by . This book was released on 2012 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis provides a holistic examination of convergence with the adoption of International Financial Reporting Standards (IFRS) in Germany by taking into account the influence of political, legal, economic, social, cultural and historical factors on accounting principles and practices. Specifically, this study examines issues in the convergence process that may create constraints in achieving global comparability and importantly may challenge the International Accounting Standards Board's (IASB) main objective, namely, 'to develop, in the public interest, a single set of high quality, understandable, enforceable and globally accepted financial reporting standards based on clearly articulated principles'.
Book Synopsis A Comparison and Contrast of German and International Financial Reporting Issues. Accounting for Pensions - IAS 19 Versus German Law by : Stefan Tzschentke
Download or read book A Comparison and Contrast of German and International Financial Reporting Issues. Accounting for Pensions - IAS 19 Versus German Law written by Stefan Tzschentke and published by GRIN Verlag. This book was released on 2007-08 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Business economics - Accounting and Taxes, grade: 1,7, University of Bayreuth, 52 entries in the bibliography, language: English, abstract: Although accounting for company pension schemes is one of the most controversial topics of discussion in the international accounting trade, many investors do not pay it due attention. In future, even more so than now, annual results will be influenced by latent reserves and obligations, resulting from different ways of accounting for pension benefit schemes. German financial statements and those following either IAS or US-GAAP often differ significantly on this point. The International Accounting Standards and the German Commercial Code are based on different principles. Whereas German regulations are dominated by the imperative of the protection of creditors, IAS lay the focus of accounting on a true and fair view of financial statements in order to provide a suitable basis for investment decisions. These divergent priorities are reflected in the accounting for pensions as well. The two main problems in accounting for pensions are the recognition and the appraisal of pension provisions. Eventually both accounting systems face the same problems and each one has a different way of resolving them. On the other hand, HGB and IAS unanimously agree on the fact that company pension schemes that do not require pension provisions, do not represent an accounting problem. The objective of the treatise on hand is the depiction of the difference between IAS and HGB regarding the recognition and accounting for pension as well as the resulting accounting-effects on the balance-sheet. The paper will first try to give an overview of the term 'pensions' as it is used in German law and in the IAS, and then - in the second part of the bases- explain the underlying problematic nature of accounting for pensions. In the third and fourth part the respective regulations, first according to German law an
Book Synopsis International Financial Reporting by : S.J. Gray
Download or read book International Financial Reporting written by S.J. Gray and published by Springer. This book was released on 1984-06-18 with total page 571 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fair Value Accounting, Historical Cost Accounting, and Systemic Risk by : Michael D. Greenberg
Download or read book Fair Value Accounting, Historical Cost Accounting, and Systemic Risk written by Michael D. Greenberg and published by Rand Corporation. This book was released on 2013-10-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the relationship between fair value accounting and historical cost accounting and systemic risk to the financial system, including the role that the accounting approaches played in the 2008 financial crisis.
Book Synopsis The problems of international auditing harmonisation by : Stefan Bode
Download or read book The problems of international auditing harmonisation written by Stefan Bode and published by GRIN Verlag. This book was released on 2007-03-10 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2007 in the subject Business economics - Revision, Auditing, grade: 1,0, University of Glamorgan, course: International Accounting & Auditing, language: English, abstract: This essay provides an analysis of the many hurdles in the process of truly harmonised international auditing standards. The method of analysis for this essay included a review of the current literature available in libraries and on the internet. The cultural barriers are regarded as the most difficult to overcome since they comprise of people’s behaviours as well as languages. Further, it is stated that the translation process is one of the major hurdles since words in different languages are not equivalent to the English ones. Moreover, cultural diversity may also cause a general resistance as the standards are dictated by big audit firms. Additionally, the IFAC is mainly influenced by the USA and the EU which might continue to cast a damning light on the ISA. Alternatively, the level of education and the lack of professional auditing bodies in some developing countries embody the social problems. The political hurdles contain the pride of sovereignty and the political system of countries. Additionally, governments are reluctant to abandon their right to prescribe the standards for professions. Furthermore, it will also be difficult to find a majority in the national parliaments because current national standard-setters or representatives from businesses might exert pressure on the members of parliament to reject ISA. On the other hand, differences in national legislation as well as in the legal system are the main part of legal obstacles. Nowadays, a marked distinction can be drawn between the common law which is predominant in Anglo-Saxon countries and the codified law which is applied in many European continental countries. Beyond this, differences in the effectiveness of countries legal structure and national regulations like auditors’ liability, accounting rules also adversely impair the harmonisation process. Lastly, the economic hurdles are characterised by different user orientation of financial statements and the stages of technological developments. Further, auditors in developed countries need other standards as their counterparts in developing countries due to the growth of e-commerce and e-business. Finally, it is concluded that truly harmonised standards may not be feasible because of the many differences between countries. It seems more important to achieve a minimum set of international auditing standards as unitary standards generate many benefits.
Book Synopsis Current Debates in International Accounting by : Christopher Nobes
Download or read book Current Debates in International Accounting written by Christopher Nobes and published by Edward Elgar Publishing. This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting a number of topics which are at the heart of current research and debate, Christopher Nobes addresses the international nature of development in accounting, new issues in classification, international financial reporting standards and fair presentation.
Book Synopsis The Adoption of International Accounting Standards in Germany by : Linda Vuskane
Download or read book The Adoption of International Accounting Standards in Germany written by Linda Vuskane and published by GRIN Verlag. This book was released on 2010-09-17 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2010 in the subject Business economics - Accounting and Taxes, grade: 1.7, Glyndŵr University, Wrexham known as NEWI (School of Business), course: Financial reporting, language: English, abstract: It can be said that there is a strong movement towards global harmonization of accounting standards despite various national GAAP, particularly German, being substantially different. There are already great successes achieved, such as IAS adoption in EU and Australia, however, there is still considerable work that has to be done in order to not only impose international standards but also achieve better compliance and interpretation. With regard to Germany, reasonable attempts have been made to adopt IAS, however, there are many transition difficulties due to great discrepancies between IAS and HGB which need to be addressed in order to achieve successful transition.
Book Synopsis European Financial Reporting by : Peter J. Walton
Download or read book European Financial Reporting written by Peter J. Walton and published by . This book was released on 1995 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: European Financial Reporting: A History is primarily a reference work for those interested in financial accounting and reporting. It is the first English language source that analyses the historical development of accounting in different European countries, and thereby provides relevant material for the study of comparative international accounting. Because the sum of accounting practices in any jurisdiction at any time represents an accumulation of past decisions, reactions to past events and initiatives in the past which have occurred in relation to an evolving social and economic culture, it follows that to study the accounting of the present, one must study the accounting of the past, and this book makes a first attempt to provide material which will help in that aim.
Book Synopsis An International View of True and Fair Accounting by : Robert Henry Parker
Download or read book An International View of True and Fair Accounting written by Robert Henry Parker and published by . This book was released on 1994 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since its genesis in the 1947 Companies Act, 'a true and fair view' has produced much debate among professionals. In this book, Parker and Nobes bring together the explanatory and often contentious opinions of key international accountants and lawyers for the first time. By including documents that have shaped international usage of that convention, Parker and Nobes provide a useful analysis of the full meaning and effect of a true and fair view. Considered a 'will-o-the-wisp' subject by most academic writers, the concept of 'a true and fair view' remains pivotal in much current accounting practice. Nobes and Parker grasp the nettle and attempt to clarify what international opinion has concluded about this central accounting issue.
Book Synopsis The German Financial System by : Jan Pieter Krahmen (editor)
Download or read book The German Financial System written by Jan Pieter Krahmen (editor) and published by . This book was released on 2004 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a team of scholars, predominantly from the Centre for Financial Studies in Frankfurt, this volume provides a descriptive survey of the present state of the German financial system and a new analytical framework to explain its workings.
Book Synopsis International Accounting and Comparative Financial Reporting by : Christopher Nobes
Download or read book International Accounting and Comparative Financial Reporting written by Christopher Nobes and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Differences Under IFRS by : Iris Achleitner
Download or read book International Differences Under IFRS written by Iris Achleitner and published by . This book was released on 2012 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: In der Vergangenheit erwies sich die Vergleichbarkeit von Jahresabschlüssen über Ländergrenzen hinaus als äußerst schwierig. Nationale Rechnungslegungsstandards deren Entwicklung durch unterschiedliche historische Einflüsse geprägt wurden, verfolgen zum Teil unterschiedliche Informationsziele. Durch die Einführung und konsequente Anwendung international anerkannter Rechnungslegungsvorschriften wie den International Financial Reporting Standards (IFRS) sollte dieses Problem überwunden werden. Aktuell erlauben bzw. fordern rund 120 Nationen die Verwendung von IFRS zur Erstellung international vergleichbarer Jahres- und Konzernabschlüsse. Dies bedeuted allerdings nicht, dass die einzelnen Länder nicht nach wie vor an nationalen Praktiken festhalten und somit die Vergleichbarkeit erschwert wird. Vielmehr gibt es Hinweise, dass gewisse Unterschiede selbst unter IFRS weiterbestehen. Konkret liefert diese Masterarbeit Motive für das Weiterbestehen internationaler Unterschiede, sowie Möglichkeiten innerhalb des Rahmenkonzepts der IFRS diese auszuüben. Solange demnach ein Motiv für unterschiedliche Praktiken besteht, solange wird eine volle Vergleichbarkeit von Jahres- und Konzernabschlüssen über die Landesgrenzen hinaus nicht gegeben sein.*****In the past, a cross-national comparison of financial information was not easy due to great differences in national accounting standards. Therefore, the IFRS was developed as a single set of high quality accounting standards in order to solve this comparability issue. Today, more than 120 jurisdictions either permit or require the use of IFRS for consolidated statements of listed companies. This may appear to have eliminated international differences, however there are indicators leading to reasonable doubts. In this masters thesis, evidence provided proves that international differences still exist under the IFRS. Aspects such as culture, legal system and tax system motivate international differences to develop. However, these aspects alone would not lead to differences if there was no scope for them to occur. Therefore, the scope under which these international differences may occur is identified and evidence is provided indicating that so far, the adoption of IFRS does not indicate an end to international accounting.
Book Synopsis Supervisory Roles in Loan Loss Provisioning in Countries Implementing IFRS by : Ellen Gaston
Download or read book Supervisory Roles in Loan Loss Provisioning in Countries Implementing IFRS written by Ellen Gaston and published by International Monetary Fund. This book was released on 2014-09-15 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries implementing International Financial Reporting Standards (IFRS) for loan loss provisioning by banks have been guided by two different approaches: International Accounting Standards (IAS) 39 and Basel standards. This paper discusses the different accounting and regulatory approaches in loan loss provisioning, and the challenges supervisors face when there are different perspectives and lack of guidance from IFRS. It suggests actions that supervisors can take to help banks meet regulatory and capital requirements and, at the same time, comply with accounting principles.
Book Synopsis International Financial Accounting and Reporting Practices by : George Kapaya
Download or read book International Financial Accounting and Reporting Practices written by George Kapaya and published by . This book was released on 1995 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modernizing International Financial Reporting by : Business International Corporation
Download or read book Modernizing International Financial Reporting written by Business International Corporation and published by . This book was released on 1971 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
