scholarly journals Compliance with Disclosure Requirements under IFRS 3 of Companies Trading at Prague Stock Exchange

2019 ◽  
Vol 14 (2) ◽  
pp. 5-26
Author(s):  
Taisia Nistorenco
Keyword(s):  
Stock Exchange ◽  
Disclosure Requirements

An Assessment of Compliance with Disclosure Requirements of IAS 41 (Agriculture) By Listed Agricultural Firms in Nigeria

2019 ◽  
pp. 9-18
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
International Accounting Standards ◽  
Listed Firms ◽  
External Auditors ◽  
Disclosure Requirements ◽  
Statutory Requirement ◽  
The One ◽  
Reporting Entity

This study examined the extent of compliance with disclosure requirements of IAS 41 by agricultural companies listed on the Nigerian Stock Exchange (NSE) for the period of 5 years (2013-2017). The data for the study were obtained from the published financial statements of the sampled firms for the period under review from which a compliance index were constructed, The tools for analysis used were the qualitative grading using a compliance index and the one way ANOVA purposely to test the hypotheses proposed. The study observed that three out of the four Companies achieved more than 70% with overall mean scores of 76.02%. This shows that majority of the agricultural firms in Nigeria strongly complied with the disclosure requirements of IAS 41. Based on the findings the study recommends among others that firms should strive at all times to comply with all regulatory and statutory requirement in the preparation and presentation of financial statements, giving the fact that it is a set of documents that prescribe the performance of the reporting entity. The Financial Reporting Council of Nigeria should publish annually the compliance status of all listed firms in Nigeria; so that the compliance status of every firm will become known to all interested users of financial statements; and also the Council should urge external auditors of firms to ensure that their clients are complying with the requirements of IASs issued by the International Accounting Standards Board (IASB).

Mandatory Preliminary Performance Reports: Evidence from China

2015 ◽  
Vol 15 (1) ◽  
pp. 67-88
Author(s):  
Yunling Song ◽  
Ling Zhou
Keyword(s):  
Market Reaction ◽  
Stock Exchange ◽  
Annual Reports ◽  
Mandatory Disclosure ◽  
Negative Consequences ◽  
High Quality ◽  
Disclosure Requirements ◽  
Small And Medium Enterprise ◽  
Medium Enterprise ◽  
Performance Reports

ABSTRACT Companies listed on China's Shenzhen Stock Exchange Small and Medium Enterprise Board are required to release preliminary performance reports before the end of February if they cannot file annual reports by that time. Although this mandate might improve the timeliness of information, we find that such preliminary releases are inaccurate and optimistic, potentially misleading investors. Sixteen percent of preliminary reports contain significant inaccuracies (i.e., when actual numbers deviate from preliminary ones by at least 10 percent). Firms in earlier stages of the auditing process, as well as those with low-quality preliminary reports in prior years, poorer performance, greater accounting complexity, and fewer resources, are more likely to issue low-quality preliminary performance reports. Market reaction tests indicate that investors consider preliminary releases to be informative and generally cannot differentiate between high-quality and low-quality preliminary releases. Moreover, when annual reports are filed, investors are surprised by the differences between the annual reports and the preliminary reports. Thus, our paper demonstrates that mandatory disclosure requirements may have unintended negative consequences.

Not all barrels are created equal: understanding the difference between standards of regulatory disclosure can impact your investment decisions

2017 ◽  
Vol 57 (2) ◽  
pp. 506
Author(s):  
Arthur L. McMullen ◽  
Warren Chung
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Petroleum Industry ◽  
Investment Decisions ◽  
The United States ◽  
Securities And Exchange Commission ◽  
Clear Understanding ◽  
Strategic Investment ◽  
Disclosure Requirements ◽  
The Difference

Petroleum industry stakeholders rely on estimates of petroleum reserves and resources as a cornerstone for making informed strategic investment decisions. Whether assessing a property or corporate target in a mergers and acquisitions process, seeking or providing equity or debt financing, developing upstream or downstream projects, engaging in sales contract negotiations or satisfying regulatory disclosure requirements, a clear understanding of the basis of these estimates is critical. Worldwide, several standards of resource estimation are widely accepted (Society of Petroleum Engineers Petroleum Resources Management System (SPE-PRMS), Securities and Exchange Commission (SEC) guidelines and Canadian Oil and Gas Evaluation Handbook (COGEH)) and disclosure requirements depend on the regulatory jurisdiction (i.e. Australia, Australian Stock Exchange (ASX) Listing Rules Chapter 5; USA, SEC Regulation S-K; Canada, NI 51-101). Understanding the differences in these standards is imperative for correctly assessing value, development potential and project risks. Focusing on Australia, the United States of America and Canada, this presentation identifies key differences in these standards, and the potential implications affecting your strategic investment decisions.

scholarly journals Disclosure of Subsidiaries with Non-controlling Interest in Accordance with IFRS 12: Case of Materiality

2016 ◽  
Vol 64 (1) ◽  
pp. 275-281 ◽  
Author(s):  
Tereza Gluzová
Keyword(s):  
Financial Reporting ◽  
Value Relevance ◽  
Stock Exchange ◽  
Financial Statements ◽  
Parent Company ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Financial Reporting Standards ◽  
Disclosure Requirements ◽  
Definition Of

Consolidated financial statements present aggregated information for parent company and its subsidiaries. For non-wholly owned subsidiaries, International Financial Reporting Standards require non-controlling interest to be presented within consolidated equity to distinguish it from the amount of equity attributable to the shareholders of the parent. Since 2014, new standards on consolidation introduced broadened disclosure requirements for subsidiaries with material non-controlling interest. Definition of material non-controlling interest however is not included in the standards. The article provides the analysis of the financial statements published by companies listed on Prague Stock Exchange. Main focus is given to assessment criteria applied to identify material non-controlling interest. Consequently, study of compliance with the disclosure requirements for selected companies has been undertaken. The results of the analysis indicate whether value relevance of financial statements has been improved as a result of the new disclosures.

Corporate Governance Codes in a Transitional Economy

2014 ◽  
pp. 27-47
Author(s):  
Marwa Hassaan
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Cultural Values ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Emerging Market ◽  
Fiscal Year ◽  
Corporate Governance Code ◽  
Disclosure Requirements ◽  
Corporate Governance Codes

This study aims to investigate the influence of the introduction of a corporate governance code in 2005 on the levels of compliance with mandatory IFRS disclosure requirements by companies listed on the Egyptian Exchange (EGX) as a leading stock exchange in the Middle East. Using a disclosure index derived from mandatory IFRS disclosure requirements for the fiscal year 2007, this study measures the levels of compliance by a sample of 75 non-financial companies listed on the focus stock exchange. This study extends the financial reporting literature and the emerging market disclosure literature by being the first to investigate the influence of corporate governance requirements for best practices on the levels of compliance with mandatory IFRS disclosure requirements by companies listed on the EGX. Results provide evidence of the lack of influence of corporate governance best practices on the levels of compliance with mandatory IFRS disclosure requirements as it is not yet part of the cultural values within the Egyptian context. These findings are consistent with the notions of the proposed theoretical foundation.

scholarly journals Segmented reporting by diversified companies in South Africa

1984 ◽  
Vol 15 (3) ◽  
pp. 173-178
Author(s):  
N. Bhana
Keyword(s):  
South Africa ◽  
Stock Exchange ◽  
Predictive Ability ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
Accounting Practice ◽  
Johannesburg Stock Exchange ◽  
Disclosure Requirements ◽  
Statutory Requirement ◽  
Geographical Regions

Segmented financial statements provide more useful information on the prospects of a diversified company than the usual consolidated financial statements. Divisional and geographical segmented financial statements improve the investor's predictive ability and make inter-company comparisons possible. As a result of pressure from investors detailed segmented disclosure is becoming a statutory requirement in the more advanced countries. Diversified companies are becoming the norm in South Africa. However, shareholders are not given segmented reports of the different divisions and geographical regions that have differing risk, profitability, and growth. The Companies Act prescribes insufficient segmented reporting by South African companies. Some of the largest and most diversified companies in South Africa are listed on the stock exchange. However, the Johannesburg Stock Exchange (JSE) has not prescribed any segmented disclosure requirements in addition to that required by the Companies Act. The lack of generally accepted accounting practice has also resulted in listed companies providing segmented reports in an arbitrary and inconsistent manner. It is recommended that the segmented disclosure requirements of the Companies Act and the JSE be amended to bring them in line with the more advanced countries. The accountancy profession should give urgent attention to providing a statement on generally accepted accounting practice relating to segmented disclosure.

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