Risk Management and Prevention for Financial Instruments Based International Standards of Financial Reporting IAS 32 and IAS 39

2009 ◽  
Author(s):  
Veronica Grosu ◽  
Ionel Bostan
Keyword(s):  
Risk Management ◽  
Financial Reporting ◽  
International Standards ◽  
Financial Instruments ◽  
Ias 39

scholarly journals An Analysis of Differences in Terms of Professional Interests Based on the Project to Replace IAS 39

2015 ◽  
Vol 26 (68) ◽  
pp. 181-194
Author(s):  
Cláudia Daniela Ferreira da Mota Carvalho ◽  
Fábio Henrique Ferreira de Albuquerque ◽  
Joaquín Texeira Quirós ◽  
Maria do Rosário Fernandes Justino
Keyword(s):  
Financial Reporting ◽  
Professional Associations ◽  
International Accounting ◽  
Financial Instruments ◽  
Chi Square ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Harmonization Process ◽  
Chi Square Test ◽  
Ias 39

<p>The professional interests of the various stakeholders groups are often seen as obstacles to full accounting harmonization. Studying different professional interests in the accounting domain is significant for organizations involved in the international accounting harmonization process, insofar as it enables them to identify the main obstacles to face in order to achieve full harmonization. Thus, this article is aimed at analyzing the differences in terms of professional interests by addressing the participation of various stakeholders groups in the process of issuing/modifying standards of the International Accounting Standards Board (IASB). Based on content analysis, we examined the comment letters sent to the IASB in the context of the first part of the first phase of the project to replace the International Accounting Standard (IAS) 39, entitled "Financial Instruments - Recognition and Measurement", by the International Financial Reporting Standard (IFRS) 9, on its turn entitled "Financial Instruments". Respondents were identified according to the stakeholders group, and, later, the collected data underwent a nonparametric chi-square test. The results of this study indicate there are significant differences between the answers obtained from the various stakeholders groups involved in the process of issuing or reviewing a standard of the IASB, above all made clear between the group of financial preparers and the regulatory and/or standard-setting agencies and the professional associations related to accounting.</p>

scholarly journals ANALISIS PENERAPAN PSAK 50 DAN PSAK 55 ATAS CADANGAN KERUGIAN PENURUNAN NILAI

2014 ◽  
Vol 8 (3) ◽  
Author(s):  
Yusni Husain ◽  
Jullie J. Sondakh ◽  
Heince Wokas
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Assets ◽  
International Accounting Standards ◽  
Financial Instruments ◽  
Financial Accounting Standards Board ◽  
Financial Reporting Standards ◽  
Ias 39

The application of the new accounting standards that are influential in the banking convergence with International Financial Reporting Standards and International Accounting Standards discussed in (IAS) 39 on recognition and measurement of financial instruments. Financial Accounting Standards Board issued Statement of Financial Accounting Standards (SFAS) 50 and 55 of the Presentation, Recognition and Measurement of Financial Instruments will be effective on January 1, 2012. Allowance for Impairment (Impairment Loss) is derived from the value of the amount to be recorded at recoverable value of the asset. This research was conducted at PT. Bank Mandiri Unit 1 Datulolong Lasut Manado (Persero) Tbk . The purpose of this study was to determine the extent of the application of SFAS 50 and SFAS 55 to the recognition, measurement and presentation of the allowance for impairment losses PT. Bank Mandiri Unit 1 Datulolong Lasut Manado (Persero) Tbk. The results suggest the application of SFAS 50 and SFAS 55 top Allowance for Impairment Losses by PT Bank Mandiri Tbk. compliance with applicable standards.The process of recognition of Allowance for Impairment Losses at amortized value using the effective interest rate. Measuring the level of collective impairment for financial assets is calculated based on the loss historical collectively. Presentation of receivables in the financial statements is the value after deducting the allowance for impairment losses.

Business Model Literature Overview

2014 ◽  
pp. 79-130 ◽  
Author(s):  
Ales Novak
Keyword(s):  
Business Model ◽  
Financial Reporting ◽  
Business Models ◽  
Potential Role ◽  
Financial Instruments ◽  
Business Logic ◽  
Literature Overview ◽  
Ifrs 9 ◽  
Definition Of

The term ?business model' has recently attracted increased attention in the context of financial reporting and was formally introduced into the IFRS literature when IFRS 9 Financial Instruments was published in November 2009. However, IFRS 9 did not fully define the term ‘business model'. Furthermore, the literature on business models is quite diverse. It has been conducted in largely isolated fashion; therefore, no generally accepted definition of ?business model' has emerged. Therefore, a better understanding of the notion itself should be developed before further investigating its potential role within financial reporting. The aim of this paper is to highlight some of the perceived key themes and to identify other bases for grouping/organizing the literature based on business models. The contributions this paper makes to the literature are twofold: first, it complements previous review papers on business models; second, it contains a clear position on the distinction between the notions of the business model and strategy, which many authors identify as a key element in better explaining and communicating the notion of the business model. In this author's opinion, the term ‘strategy' is a dynamic and forward-looking notion, a sort of directional roadmap for future courses of action, whereas, ‘business model' is a more static notion, reflecting the conceptualisation of the company's underlying core business logic. The conclusion contains the author's thoughts on the role of the business model in financial reporting.

IFRS IMPLEMENTATION AS ONE OF THE FACTORS FOR IMPROVING THE INVESTMENT CLIMATE IN UKRAINE

2017 ◽  
Author(s):  
Kateryna Sova ◽  
◽  
Natalia Yatsenko ◽  
Denys Zagirniak ◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Direct Investment ◽  
Financial Statements ◽  
International Standards ◽  
Investment Climate ◽  
The European Union ◽  
Economic Activities ◽  
Financial Reporting Standards ◽  
Almost All ◽  
The Impact

The article is devoted to the study of the impact of the introduction of International Financial Reporting Standards (IFRS) on changes in the investment climate in Ukraine. The relevance of the topic is that improving the practice of applying IFRS as a tool for exchanging financial information is one of the key conditions for improving the investment climate in Ukraine. The authors have created the generalized scheme that illustrates the chronological list of enterprises that are required by law to prepare financial statements in accordance with IFRS. It was noted that in 2018, in accordance with Part 2 of Article 12 of the law on accounting and financial reporting in Ukraine and resolution of the Cabinet of Ministers of Ukraine No. 547 from 11.07.2018, the criteria of enterprises that are required to prepare financial statements in accordance with IFRS were updated. This step significantly increased the level of application of international standards due to the adoption of such a decision at the legislative level. The dynamics of the number of IFRS enterprises in Ukraine was analyzed. The analysis showed that over the past three years, the number of almost all enterprises that must apply international standards has been growing. The advantages of using IFRS for different users of financial statements were determined. It was determined that the priority users of IFRS financial statements are investors. At the same time, it was noted that the main advantage for other users of financial statements prepared in accordance with international standards is the improvement of the investment climate. The dynamics of the Investment Attractiveness Index of Ukraine based on the Likert scale in the period from 2016 to 2020 was analyzed. The direct investment receipts to Ukraine from the European Union countries were studied. The dynamics of direct investment in the Ukrainian economy was analyzed for two types of economic activities that should form financial statements in accordance with IFRS, namely, the extractive industry and quarrying, as well as financial and insurance activities.

Do globalisation and adoption of IFRS by banks in Africa lead to less earnings management?

2019 ◽  
Vol 17 (2) ◽  
pp. 222-248 ◽  
Author(s):  
Mohammed Amidu ◽  
Haruna Issahaku
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Information Quality ◽  
Accounting Information ◽  
Financial Statements ◽  
International Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Accounting Information Quality ◽  
National Economies

Purpose This paper aims to analyse the implications of globalisation and the adoption of international standards (International Financial Reporting Standards [IFRS]) for accounting information quality. Design/methodology/approach This paper uses a sample of 329 banks across 29 countries leading up to and beyond the implementation of IFRS to test for related hypotheses. Findings First, banks’ financial statements are prepared on the basis of international standards as national economies are integrated when social norms are diffused. Building on these results, the second test suggests that the relatively high-quality earnings among banks in Africa during the period is attributable to the adoption of and interaction of IFRS with globalisation and the strategy of banks to diversify within and across interest and non-interest income. Originality/value The authors investigate how globalisation and the adoption of IFRS affect accounting information quality.

COMPARATIVE ANALYSIS OF INTERNATIONAL STANDARDS IN THE FIELD OF NON-FINANCIAL REPORTING AND THE PRACTICE OF THEIR APPLICATION

2021 ◽  
Vol 2 (4) ◽  
pp. 146-152
Author(s):  
E. V. ANDRIANOVA ◽  
◽  
P. S. SHCHERBACHENKO ◽  
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Business Environment ◽  
International Standards ◽  
Positive Trend ◽  
Financial Indicators ◽  
Additional Tool ◽  
Foreign Companies ◽  
High Level ◽  
Source Of Information

This article discusses and analyzes the most popular standards of non-financial reporting, which has a significant impact on the transformation of the business environment. Already, domestic and foreign companies with a high level of responsibility are beginning to publish non-financial statements in addition to financial statements, which is an additional tool for communication with stakeholders and a new source of information about their activities. To date, reports of this type are clearly unregulated, there are no verification standards, however, there is already a positive trend and the active introduction of non-financial indicators in the regular reporting of companies.

Issues and challenges of IFRS 9 in Malaysian Islamic financial institutions: recognition criteria perspective

2021 ◽  
Vol 12 (2) ◽  
pp. 239-257
Author(s):  
Marziana Madah Marzuki ◽  
Abdul Rahim Abdul Rahman ◽  
Ainulashikin Marzuki ◽  
Nathasa Mazna Ramli ◽  
Wan Amalina Wan Abdullah
Keyword(s):  
Financial Institutions ◽  
Financial Reporting ◽  
Business Models ◽  
Fair Value ◽  
Financial Instruments ◽  
Structured Interviews ◽  
Content Type ◽  
Reporting Framework ◽  
Islamic Financial Institutions ◽  
Ifrs 9

Purpose The purpose of this paper is to investigate the effects and challenges of the new amendment of International Financial Reporting Standards (IFRS) 9 in Malaysia from the perspectives of regulators, auditors, accountants and academicians in Malaysian Islamic financial institutions. For the purpose of this study, this paper focuses on the recognition criteria perspective of the standard, which provides a basic understanding of the financial reporting framework. Design/methodology/approach Using 10 series of semi-structured interviews undertaken with key individuals in regulatory bodies, audit companies, full-fledged Malaysian Islamic Banks and Malaysian higher learning institutions. Findings The findings revealed that IFRS 9 strengthens International Accounting Standards 39 in terms of relevance and reliability, recognition of financial instruments and identification of business models. Nevertheless, Islamic financial institutions face challenges in terms of a faithful representation of fair value, substance over form, identification of financial instruments before recognition criteria and the extent of the role of risk management in reducing manipulation in identifying business models. Research limitations/implications This study provides implications to regulators and standard setters in Malaysia to enhance the quality of financial reporting framework and practices in Islamic financial institutions in this country using IFRS 9. Practical implications Practically, the findings of this study can be used by the regulators to resolve the issues that arise in adopting IFRS 9 among Islamic financial institutions to further enhance financial reporting quality. Originality/value The findings of this study are very important to ensure that the adoption of IFRS among Islamic financial institutions are in line with Sharīʿah principles. To date, no studies have been done on the challenges of adopting IFRS 9 among Islamic financial institutions in Malaysia.

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