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Evidence On The Use Of Unverifiable Estimates In Required Goodwill Impairment
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Book Synopsis Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment by : Karthik Ramanna
Download or read book Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment written by Karthik Ramanna and published by . This book was released on 2012 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: SFAS 142 requires managers to estimate the current fair value of goodwill to determine goodwill write-offs. In promulgating the standard, the FASB predicted managers will, on average, use the fair value estimates to convey private information on future cash flows. The current fair value of goodwill is unverifiable because it depends in part on management's future actions (including managers' conceptualization and implementation of firm strategy). Thus, agency theory predicts managers will, on average, use the discretion in SFAS 142 consistent with private incentives. We test these hypotheses in a sample of firms with market indications of goodwill impairment. Our evidence, while consistent with some agency-theory derived predictions, does not confirm the private information hypothesis.
Book Synopsis Evidence from Goodwill Non-impairments on the Effects of Using Unverifiable Estimates in Financial Reporting by : Karthik Ramanna
Download or read book Evidence from Goodwill Non-impairments on the Effects of Using Unverifiable Estimates in Financial Reporting written by Karthik Ramanna and published by . This book was released on 2009 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: SFAS 142 requires managers to estimate reporting unit values to determine goodwill write-offs. Those estimates often use unverifiable discounted-future-cash-flows providing managers with more discretion than historically afforded in financial reporting. Ex post, managers can claim their unit value estimates were not realized due to factors outside their control, claims that are difficult to objectively falsify. In promulgating SFAS 142, standard setters assume managers, on average, use unverifiable discretion to convey private information on future cash flows; in contrast, agency theory predicts managers, on average, use unverifiable discretion opportunistically. We test these alternative hypotheses using a sample of firms with market indications of goodwill impairment. Our evidence, while consistent with agency theory, does not confirm the private information hypothesis.
Book Synopsis Evidence on the Effects of Unverifiable Fair-value Accounting by : Karthik Ramanna
Download or read book Evidence on the Effects of Unverifiable Fair-value Accounting written by Karthik Ramanna and published by . This book was released on 2008 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: SFAS 142 requires firms to use fair-value estimates to determine goodwill impairments. Watts (2003) and Ramanna (2007) argue the unverifiable nature of those fair-value estimates gives firms discretion to manage impairments. We test this argument in a sample of firms with market indications of impairment (firms with book goodwill and market-to-book ratio below one). We find that the frequency of non-impairment in this sample is about 71%, and that non-impairment is increasing in financial characteristics predicted to be associated with greater unverifiable fair-value-based discretion. To investigate whether non-impairment is associated with managers producing on average better estimates of goodwill than the market, we test whether non-impairment increases in industries with higher average information asymmetries. We fail to find evidence consistent with this proposition.
Book Synopsis Issues in Accounting, Administration, and Corporate Governance: 2013 Edition by :
Download or read book Issues in Accounting, Administration, and Corporate Governance: 2013 Edition written by and published by ScholarlyEditions. This book was released on 2013-05-01 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues in Accounting, Administration, and Corporate Governance: 2013 Edition is a ScholarlyEditions™ book that delivers timely, authoritative, and comprehensive information about Logistics. The editors have built Issues in Accounting, Administration, and Corporate Governance: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Logistics in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in Accounting, Administration, and Corporate Governance: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Book Synopsis Accounting for M&A by : Amir Amel-Zadeh
Download or read book Accounting for M&A written by Amir Amel-Zadeh and published by Routledge. This book was released on 2020-04-29 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spending on M&A has, in aggregate, grown so fast that it has even overtaken capital expenditure on increasing and maintaining physical assets. Yet McKinsey, the leading management consultancy, reports that "Anyone who has researched merger success rates knows that roughly 70% fail". The idea that businesses might be using huge and increasing sums of shareholders’ money for an activity that more often than not leads to failure calls into question the information on which M&A decisions are based. This book presents statistical studies, case material, and standard-setters’ opinions on company accounting before, during, and after M&A. It documents the manipulation of annual accounts by acquirers ahead of share for share bids, biased forecasts of post-merger earnings by bidders, and devices to flatter earnings when recording the deal. It explores the challenges for standard-setters in regulating information flows during and after M&A, and for account-users wishing to learn from financial statements how a deal has affected performance. Drawing on a wide range of international examples, this readable book is targeted not just at accounting specialists but at anyone who is comfortable reading the serious financial press, is intrigued by what is going on in the massive M&A market, and is concerned with achieving better-informed M&A. As such it might be of particular interest to business executives, lawyers, bankers, and investors involved in M&A as well as graduate students interested in researching or learning about the role of accounting in M&A.
Book Synopsis Proceedings of the International Conference Theory and Applications in the Knowledge Economy TAKE 2019 by : Florian Kragulj
Download or read book Proceedings of the International Conference Theory and Applications in the Knowledge Economy TAKE 2019 written by Florian Kragulj and published by Eduardo Tomé. This book was released on 2019-07-10 with total page 855 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword Ten years is a long time. In 2009 a bunch of friends gathered in Portugal for a conference that was to precede TAKE. In 2011 we repeated. Then, after a strange sequence of events, we finally organized TAKE for the first time in 2015 in Aveiro, followed by Zagreb, Poznan and now Vienna. Florian Kragulj was in the first TAKE in Aveiro and from the start showed the highest level of enthusiasm and professionalism in the event. These characteristics were kept alive during all the 15 or so months during which we organized TAKE 2019. That this edition of TAKE involves several entities linked with academia, i.e. WU Vienna University of Economics and Business, the Austrian Economic Chamber and the Institute for Applied Research on Skilled Crafts and Trades (IAGF). This in itself a big success and a sign of the Conference improvement. Also, we may see, by analysing the papers and in particular the streams, that TAKE has been following the economic times, and this year we have several papers on the Gig Economy. Only good conferences adjust, the others get stuck in time. And success in Conferences is about teams. And in TAKE that team, is indeed, a very large group of people including the co-chairs, the local organizing team, the material organizers (Book of Abstracts and Proceedings), the stream leaders, and the paper reviewers – without all these persons nothing could have been done. And finally we had to depend on the authors, and their willingness to work with us. Without the work of these large dozens of devoted and skilled people TAKE 2019 would not have existed. May I also mention that this time and with Florian’s impulse and skill the organization of TAKE was improved in technological terms – in short we became techno – we used a website to deliver the mail list, a website to receive the scientific material and another website to receive the fees. All these were investments that eventually paid of, and that will guarantee a more stable organization for TAKE in the future. And we owe it to Florian. However, as the Human Resource Development part of TAKE (and more than anyone Gary Mc Lean) would remind us – “We are humans, Eduardo”, and technology helps, but in the end, is attention to detail, capacity to deal with the bizarre and to accommodate the weirdness making sometimes the impossible possible that differentiates a good conference, made doing things right, from an excellent conference, based in doing the right things. And on this last matter, believe me, we in TAKE are among the best in the world, because apart from being outstanding scholars, and good colleagues, we are an amazing group of friends, and friendship is the best way to turn good conferences into outstanding ones. Many thanks, from the heart and enjoy the Conference. Eduardo Tomé Conference Chair, Universidad Europeia Lisbon, July 2019, Lisbon, Portugal
Book Synopsis Advances in Quantitative Analysis of Finance and Accounting (New Series) Vol．15 by : Cheng F. Lee
Download or read book Advances in Quantitative Analysis of Finance and Accounting (New Series) Vol．15 written by Cheng F. Lee and published by Center for PBBEFR & Airiti Press. This book was released on 2017-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Quantitative Analysis of Finance and Accounting (New Series) is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and the accounting profession.
Book Synopsis The Routledge Companion to Fair Value in Accounting by : Gilad Livne
Download or read book The Routledge Companion to Fair Value in Accounting written by Gilad Livne and published by Routledge. This book was released on 2018-06-13 with total page 757 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of "fair value" marked a major departure from traditional cost accounting. In theory, under this approach a balance sheet that better reflects the current value of assets and liabilities. Critics of fair value argue that it is less useful over longer time frames and prone to distortion by market inefficiencies resulting in procyclicality in the financial system by exacerbating market swings. Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by internationally recognized experts, this book, on a controversial and intensely debated topic, is a comprehensive reference source which: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical and practical perspectives, including a critical review of the merits and arguments against the use of fair value accounting explores fair value accounting in practice, involvement in the Great Financial Crisis, implications for managerial reporting discretion, compensation and investment This volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.
Book Synopsis The Routledge Companion to Financial Accounting Theory by : Stewart Jones
Download or read book The Routledge Companion to Financial Accounting Theory written by Stewart Jones and published by Routledge. This book was released on 2015-05-22 with total page 791 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial accounting theory has numerous practical applications and policy implications, for instance, international accounting standard setters are increasingly relying on theoretical accounting concepts in the creation of new standards; and corporate regulators are increasingly turning to various conceptual frameworks of accounting to guide regulation and the interpretation of accounting practices. The global financial crisis has also led to a new found appreciation of the social, economic and political importance of accounting concepts generally and corporate financial reporting in particular. For instance, the fundamentals of capital market theory (i.e. market efficiency) and measurement theory (i.e. fair value) have received widespread public and regulatory attention. This comprehensive, authoritative volume provides a prestige reference work which offers students, academics, regulators and practitioners a valuable resource containing the current scholarship and practice in the established field of financial accounting theory.
Book Synopsis Applying IFRS Standards by : Ruth Picker
Download or read book Applying IFRS Standards written by Ruth Picker and published by John Wiley & Sons. This book was released on 2019-06-24 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the main concepts of IFRS Standards The fourth edition of Applying IFRS Standards explains the core principles of International Financial Reporting (IFRS) Standards. It also addresses the skills needed to apply the standards in business environments. The book begins with an overview of the International Accounting Standards Board (IASB) and how it establishes accounting standards. The general book topics are then covered in detail and include: income taxes, financial instruments, fair value measurement, property, inventories, employee benefits and more. Discussion questions, exercises and references are provided throughout the book.
Book Synopsis ECKM 2023 24th European Conference on Knowledge Managemen Vol 1 by :
Download or read book ECKM 2023 24th European Conference on Knowledge Managemen Vol 1 written by and published by Academic Conferences and publishing limited. This book was released on 2023-09-07 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Political Standards by : Karthik Ramanna
Download or read book Political Standards written by Karthik Ramanna and published by University of Chicago Press. This book was released on 2015-11-09 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assembling compelling and unprecedented evidence, "Political Standards: Accounting for Legitimacy" documents how in subtle ways the rules of corporate accounting a critical institution in modern market capitalism have been captured to benefit industrial corporations, financial firms, and audit firms. In what is perhaps the only independent overview of the accounting industry, Karthik Ramanna begins with a history of corporate accounting and an accessible explanation of how it works today, including the essential roles it plays in defining the fundamental notion of profitability, facilitating asset allocation, and ensuring the accountability of corporations and their managers. From the evidence, Ramanna shows how accounting rule-makers selectively co-opt conceptual arguments from academia and elsewhere to advance the views of the special-interest groups. From this, Ramanna moves on to develop more broadly a new type of regulatory challenge that of producing public policy in a thin political market. His argument is that accounting rules cannot be determined without the substantial expertise and experience of groups that by definition also have strong commercial interests in the outcome." Political Standards" concludes with an exploration of possible solutions to the problem in accounting and that of thin political markets in general, charting avenues for scholarship and practice. Certain to be an eye-opening account of a massive industry central to the modern business world, "Political Standards "will be an essential resource in understanding how the rules of the game business are set, whom they inevitably favor, and how they can be changed for the better of society."
Book Synopsis Goodwill Impairment by : Thorsten Sellhorn
Download or read book Goodwill Impairment written by Thorsten Sellhorn and published by Peter Lang Pub Incorporated. This book was released on 2004 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2001, goodwill amortization in the US was eliminated in favor of an impairment-only approach, which, according to critics, gives managers vast discretion and opportunities for earnings management. Prior research suggests that discretionary asset write-offs are associated with economic factors and managers_ financial reporting objectives. Based on a systematic literature review, this study investigates for a comprehensive sample of US firms the determinants of goodwill write-off behavior. Regression analysis shows that write-off behavior is significantly explained by firms_ economic properties. Only in large, high-profile firms, incentives appear to be significant determinants. These findings suggest that the impairment-only approach does capture goodwill impairment at least to some extent.
Book Synopsis Geo-Spatial Knowledge and Intelligence by : Hanning Yuan
Download or read book Geo-Spatial Knowledge and Intelligence written by Hanning Yuan and published by Springer. This book was released on 2018-06-12 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume set (CCIS 848 and CCIS 849) constitutes the thoroughly refereed proceedings of the 5th International Conference Geo-Spatial Knowledge and Intelligence, GSKI 2017, held in Chiang Mai, Thailand, in December 2018.The 142 full papers presented were carefully reviewed and selected from 579 submissions. They are organized in topical sections on smart city in resource management and sustainable ecosystem; spatial data acquisition through RS and GIS in resource management and sustainable ecosystem; ecological and environmental data processing and management; advanced geospatial model and analysis for understanding ecological and environmental process; applications of geo-informatics in resource management and sustainable ecosystem.
Book Synopsis Discounting, LIBOR, CVA and Funding by : C. Kenyon
Download or read book Discounting, LIBOR, CVA and Funding written by C. Kenyon and published by Springer. This book was released on 2012-08-06 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing the most up-to-date tools and techniques for pricing interest rate and credit products for the new financial world, this book discusses pricing and hedging, funding and regulation, and interpretation, as an essential resource for quantitatively minded practitioners and researchers in finance.
Book Synopsis Advances in Accounting Education by : Thomas G. Calderon
Download or read book Advances in Accounting Education written by Thomas G. Calderon and published by Emerald Group Publishing. This book was released on 2021-12-02 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Accounting Education features 13 papers surrounding four themes: curriculum and pedagogical innovations, faculty reflections on teaching accounting during the COVID-19 pandemic, research on passing professional exams in accounting, and historical underpinnings and the choice of taxation as an area of specialization.
Book Synopsis Positive Accounting Theory by : Ross L. Watts
Download or read book Positive Accounting Theory written by Ross L. Watts and published by . This book was released on 2004 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
