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Author :
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (931 download)
Download or read book The Effects of the Financial Crisis on Accounting for Goodwill Impairment (IFRS 3, IAS 36) written by and published by . This book was released on 2015 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (914 download)
Download or read book The Impact of the Financial Crisis on the Accounting for Goodwill (IFRS 3, IAS 36) written by and published by . This book was released on 2013 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anonym
Publisher :
ISBN 13 : 9783346181756
Total Pages : 36 pages
Book Rating : 4.1/5 (817 download)
Download or read book Goodwill Impairment and Corporate Social Responsibility written by Anonym and published by . This book was released on 2020-05-16 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2019 in the subject Business economics - Accounting and Taxes, grade: 2,3, University of Bremen, language: English, abstract: The issue goodwill impairment is controversially discussed in practice and in literature because goodwill or rather the amount of goodwill which has to be impaired primarily based on managerial assumptions and proprietary information and further the recognition and accurate measurement is not easy and thus often not free from error. Therefore the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) require firms to disclose specific information on how and why goodwill arises in business combinations. Goodwill accounting is intended to provide information on the financial consequences of mergers and acquisitions. It is therefore potentially very important for recipients of annual financial statements. Goodwill accounting in Europe is generally regulated in the International Financial Reporting Standard 3 (IFRS 3) Business Combinations and International Accounting Standard 36 (IAS 36) Impairment of Assets. Goodwill accounting in the US is regulated in Accounting Standards Codification 805 (ASC 805) Business Combinations (formally known as Statement of Financial Accounting Standards No. 141 (SFAS 141)) and ASC 350 Goodwill and other Intangible Assets (formally known as SFAS 142). Goodwill is defined as an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. Besides goodwill impairment, Corporate Social Responsibility (CSR) activities has become another steadily increasing issue around the world and has gained significance in the view of public policy and management practice. CSR is often defined as "the social responsibility of business encompasses the economic, legal, ethical and discretionary expectations that society has of organizations at a giv
Author : Alex Almici
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Goodwill Impairment Testing Under IFRS Before and After the Financial Crisis written by Alex Almici and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of fair value in financial reporting has been a critical issue for some time. In the last five years, after the boom phase of company takeovers, with the financial crisis spreading to the general economy, impairment testing for goodwill has taken center stage and has become a hot topic.This paper investigates and compares the disclosure level of the goodwill impairment testing process during 2007-2011 in the major listed companies in the UK. The authors review the annual reports of 85 non-financial firms, ranked by market capitalization and total assets, that were listed on the London Stock Exchange and recognized goodwill as an asset; then, they examine all the information provided by the companies about the estimation of the “recoverable amount” using a DCF model according to IAS 36; based on the financial information given in the annual reports during 2007-2011, the core valuation techniques has been divided as follows: (1) identification of cash generating units; (2) scenario analysis and forecast of free cash flows; (3) estimation of “terminal value”; (4) cost of capital and g-rate calculation; (5) sensitivity analysis. Evidence shows a lack of disclosure on the key assumptions of the estimation model required by IAS 36, especially after the world economic and financial crisis (2009-2011).The findings should be of interest to underline some questions related to both the effectiveness of goodwill impairment tests under uncertainty and disagreement in economic and financial forecasting and the value-relevance of the specific information given in the annual accounts of non-financial listed companies in the UK.
Author : Ahmad Alshehabi
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783844319323
Total Pages : 76 pages
Book Rating : 4.3/5 (193 download)
Download or read book The Side-Effects of the Implementation of Ifrs Goodwill Impairment written by Ahmad Alshehabi and published by LAP Lambert Academic Publishing. This book was released on 2011-03 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the effects of IFRS 3 "Business Combinations" on goodwill impairment losses reported by a sample of 52 firms, drawn from the largest UK firms listed on the main market of the London Stock Exchange during the period 2006-2008. The sample was identified as a result of certain criteria. The majority of the sample firms met the threshold of significant goodwill (greater than or equal to 10% of total assets) indicating that goodwill as an asset representing a material component of the reported asset portfolio for the research sample. The study investigates whether the current accounting treatment for goodwill has contributed to greater uniformity in accounting for goodwill and its impairment, and consequently enabled comparison to be made across industries and through time. The study lends support to the international accounting standard-setters' decision to question the usefulness of the current accounting treatment of goodwill under IFRS.
Author : Laurent Lazar
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Determinants of Mandatory Goodwill Disclosure. The Case of Impairment Testing in Germany written by Laurent Lazar and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Goodwill accounting standards, according to International Financial Reporting Standard 3 (IFRS 3) and International Accounting Standard 36 (IAS 36), oblige firms to describe the circumstances that form the basis of the annual impairment testing. We observe that managers' interpretation or application of the IFRS is associated with the information content disclosed in financial statements. The use of boilerplate instead of firm-specific information decreases the information quality. This study investigates the disclosure quality of goodwill impairment testing under the IFRS of German listed companies between 2010 and 2015. Our results provide evidence that firm performance and goodwill impairment losses are positively linked to the quality of goodwill impairment disclosure. Furthermore, the results show that the magnitude of reported goodwill is negatively associated with the disclosure quality. Our findings are robust to additional tests and make several contributions to further research, regulation, and practice.
Author : Caner Akbaba
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Goodwill Impairment written by Caner Akbaba and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As it is well known that financial information is useful when it is relevant and represented faithfully what it purposes. In this regard, goodwill which represents both the future benefit expectation and the value attributed to the subsidiary by its parent company in fact, has to be relevant and faithfully reported in the financial statements of the parent company to help the investors and other participants to decide soundly. However, especially in Turkey despite the increase in mergers and acquisitions, compliance in reporting goodwill and impairment analysis was not studied sufficiently. At this point the issues “leaving goodwill write off only to the discretion of company management” and “reporting quality of goodwill and its impairment test” that need to be considered with a great deal in Turkey.As a result of historical evolution of accounting rules and practice, relatively advanced reporting standards on goodwill and impairment of goodwill were set up under IFRS and they are welcomed in most of the countries in the world. However, when we look at the Turkey case, there seems to be some problems in implementation of goodwill related reporting standards especially on impairment of goodwill. This study is limited with companies listed in Borsa Istanbul. Their annual reports that comply fully with IFRS stated between years 2008 and 2014 will be used. Financial figures presented in the annual reports will be compared with the mandatory disclosure requirements for IAS 36.
Author : Ioannis Tsalavoutas
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (13 download)
Download or read book Worldwide Application of IFRS 3, IAS 38 and IAS 36, Related Disclosures, and Determinants of Non-Compliance written by Ioannis Tsalavoutas and published by . This book was released on 2015 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report investigates the accounting for, and information disclosed under, IFRS 3 Business Combinations, IAS 36 Impairment of Assets, and IAS 38 Intangible Assets, and examines compliance levels with the mandated disclosures and their determinants.
Author : Thorsten Sellhorn
Publisher : Peter Lang Pub Incorporated
ISBN 13 : 9783631527078
Total Pages : 323 pages
Book Rating : 4.5/5 (27 download)
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.
Author : Amir Amel-Zadeh
Publisher : Routledge
ISBN 13 : 1000066525
Total Pages : 331 pages
Book Rating : 4.0/5 ( download)
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.
Author : Jennifer Francis
Publisher : Now Publishers Inc
ISBN 13 : 1601981147
Total Pages : 97 pages
Book Rating : 4.6/5 (19 download)
Download or read book Earnings Quality written by Jennifer Francis and published by Now Publishers Inc. This book was released on 2008 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Author : Martin Glaum
Publisher :
ISBN 13 : 9783934803497
Total Pages : 86 pages
Book Rating : 4.8/5 (34 download)
Download or read book Making Acquisitions Transparent written by Martin Glaum and published by . This book was released on 2011 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : AICPA
Publisher : John Wiley & Sons
ISBN 13 : 1937352803
Total Pages : 176 pages
Book Rating : 4.9/5 (373 download)
Download or read book Accounting and Valuation Guide written by AICPA and published by John Wiley & Sons. This book was released on 2016-11-07 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new guide provides accounting and valuation guidance for impairment testing of goodwill. Specifically, it focuses on practice issues related to the qualitative assessment and the first step of the two-step test. This resource is a valuable tool for auditors, accountants and valuation specialists seeking an advanced understanding of the accounting, valuation, and disclosures related to goodwill impairment testing (including the qualitative assessment). It is also a vital resource for preparers of financial statements of public and private companies that follow FASB guidance on goodwill.
Author : Gilad Livne
Publisher : Routledge
ISBN 13 : 131722132X
Total Pages : 346 pages
Book Rating : 4.3/5 (172 download)
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 346 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.
Author : Joshua Ronen
Publisher : Springer Science & Business Media
ISBN 13 : 0387257713
Total Pages : 587 pages
Book Rating : 4.3/5 (872 download)
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Author : International Accounting Standards Board
Publisher :
ISBN 13 : 9781904230724
Total Pages : 16 pages
Book Rating : 4.2/5 (37 download)
Download or read book IFRS 6 written by International Accounting Standards Board and published by . This book was released on 2004 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Accounting Standards Board
Publisher :
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.E/5 ( download)
Download or read book Fair Value Measurements written by International Accounting Standards Board and published by . This book was released on 2006 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
