Stressing Environmental Financial Accounting Transparency for Decision Making in Brazil

2001 ◽  
Author(s):  
Luiz Ferreira Xavier Borges ◽  
Sebastiao Bergamini
Keyword(s):  
Decision Making ◽  
Financial Accounting

scholarly journals Application of the theory of decision making under risk and uncertainty at modelling of costs

2010 ◽  
Vol 56 (No. 5) ◽  
pp. 201-208 ◽  
Author(s):  
M. Beranová ◽  
D. Martinovičová
Keyword(s):  
Decision Making ◽  
Financial Accounting ◽  
Cost Functions ◽  
Risk And Uncertainty ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Bayesian Theorem ◽  
Long Run ◽  
Short Run ◽  
The Cost

The costs functions are mentioned mostly in the relation to the Break-even Analysis where they are presented in the linear form. But there exist several different types and forms of cost functions. Fist of all, it is necessary to distinguish between the short-run and long-run cost function that are both very important tools of the managerial decision making even if each one is used on a different level of management. Also several methods of estimation of the cost function's parameters are elaborated in the literature. But all these methods are based on the past data taken from the financial accounting while the financial accounting is not able to separate the fixed and variable costs and it is also strongly adjusted to taxation in the many companies. As a tool of the managerial decision making support, the cost functions should provide a vision to the future where many factors of risk and uncertainty influence economic results. Consequently, these random factors should be considered in the construction of cost functions, especially in the long-run. In order to quantify the influences of these risks and uncertainties, the authors submit the application of the Bayesian Theorem.

scholarly journals ANALISIS PENYAJIAN LAPORAN KEUANGAN BERDASARKAN PENERAPAN STANDAR AKUNTANSI KEUANGAN ENTITAS TANPA AKUNTABILITAS PUBLIK PADA PT. FORTUNA INTI ALAM

2017 ◽  
Vol 12 (01) ◽  
Author(s):  
Marddyanto Dwi Saputra ◽  
Jullie J. Sondakh ◽  
Treesje Runtu
Keyword(s):  
Decision Making ◽  
Cash Flow ◽  
Descriptive Analysis ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Statement ◽  
Public Accountability ◽  
Financial Situation ◽  
Chartered Accountants

The financial statements in principle are the result of the accounting process used to communicate the financial situation to internal and external parties that are aimed at decision making. The importance of the financial statements, then the financial statement should be prepared carefully and without errors. Financial Accounting Standards generally are not in accordance with entities whose accountability is not as significant. Therefore, the Institute of Indonesia Chartered Accountants (IAI) has issued Financial Accounting Standards Entity Without Public Accountability (SAK ETAP) intended for entities that do not have significant public accountability and publish financial statements for general purposes for external users. This study aims to analyze the implementation of ETAP in the presentation of PT. Fortuna Inti Alam’s financial statement. The method used in this study is comparative descriptive analysis. Results of this research is based on the financial statements of 2016 show that PT. Fortuna Inti Alam has implemented ETAP but it is not fully complete yet. The Company has not presented Statement of Owner’s Equity, Cash Flow Statement, and Notes to Financial Statements. This research suggests that companies can prepare components of other financial statements in accordance with applicable standards.Keywords : Financial Statements, SAK ETAP.

scholarly journals Cost with time can yield reliable and relevant financial accounting information

2004 ◽  
Vol 2 (1) ◽  
pp. 60-72 ◽  
Author(s):  
Eno L. Inanga ◽  
Bruce Schneider
Keyword(s):  
Decision Making ◽  
Accounting Information ◽  
Financial Statements ◽  
Financial Accounting ◽  
Corporate Accountability ◽  
Accounting Data ◽  
Historical Cost ◽  
Lead Users ◽  
Accounting Reports ◽  
Nominal Amount

It is generally accepted that one of the key financial accounting problems of the day is how to make financial accounting reports, as tools for corporate accountability and stewardship reporting, both reliable and relevant. Practitioners, rule makers, and academics are struggling with this dilemma that is inherent in historical cost financial statements. This paper suggests that historical cost, transactions- based accounting data is nominally reliable, which is an attribute of relevance, but it can be made timelessly relevant, if data about the precise date and time the nominal amount of the transaction was measured are made available to users. Furthermore, the presumption those company-related accountants and the auditors need to prepare a set of financial statements that they need to make relevant to an unknown set of users, should be abandoned. The valuation algorithm, the processes for making historical cost data relevant to situation-specific decision-making, are the prerogative and, most importantly, the responsibility of the users based on their perceptions of the dynamic, quantum world and their unique needs. The paper develops the logical reasons for the positions taken. It also argues that US-GAAP and the resulting financial statements may lead users of accounting information to allege that the financial statements are fraudulent. It is well-recognized by accountants and users that time, the details of which are currently under-reported, is a material fact related to the significance and usefulness of accounting information. Thus, the omission of facts about when the measurements were made, known to be important to understanding the reported information, may be the basis for the allegation of fraud.

Advancing Financial Reporting in the Age of Technology: An Interview with Robert H. Herz

2021 ◽  
Vol 18 (2) ◽  
pp. 117-124
Author(s):  
Robert H Herz ◽  
Duo Pei
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Financial Reporting ◽  
Main Idea ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Financial Accounting Standards Board ◽  
Business Reporting ◽  
Reporting Process ◽  
Part Time

ABSTRACT This paper is based on an interview on January 9, 2020, with Robert H. (Bob) Herz, the former two-term chairman of the Financial Accounting Standards Board, on how the environment for business reporting has evolved and how it may continue to evolve. Bob Herz has also held decision-making positions as a part-time member of the IASB and on the board of the SASB. In this interview, we discuss a pragmatic reporting model suited to the era of Big Data and technology. We also explain the different interests of the reporting process, including the standard-setters, preparers, auditors, and users. The main idea of this paper focuses on how to incorporate Big Data and technology into reporting models working within the current framework and needs of the stakeholders. We then outline several use cases that illustrate a refined reporting model using Big Data and technology.

Accounting Standards in Peru

2015 ◽  
pp. 219-251 ◽  
Author(s):  
Gustavo A. T. Tanaka Nakasone
Keyword(s):  
Decision Making ◽  
Quantitative Analysis ◽  
Accounting Standards ◽  
Financial Accounting ◽  
Accounting System ◽  
Qualitative And Quantitative Analysis ◽  
Qualitative And Quantitative ◽  
Accountability System ◽  
Number Of Factors

In this chapter a review of the current financial accounting situation in Peru is reviewed. Accounting or any type of accountability system has been around in Peru for several centuries and a number of factors (cultural, legal, economic and financial, historical and political) have played an important role in its evolution. This chapter aims at analyzing the Peruvian accounting system with special emphasis on IFRS for SMEs. Qualitative and quantitative analysis of available data were applied for this research as well as surveys and interviews to relevant players in the Peruvian accounting system. The most important conclusions are: 1) A number of different accounting standards –not only full IFRS or IFRS for SMEs- are applied in Peru; 2) The claim that IFRS for SMEs are widely applied by Peruvian companies should be rejected and 3) It should be recognized that most of the SMEs in Peru use accounting for tax purposes only, and disregard the use accounting for decision making.

FINANCIAL ACCOUNTING AND REPORTING IN SMALL FIRMS

1996 ◽  
Vol 04 (02) ◽  
pp. 163-182
Author(s):  
A.J.M. Humayun Murshed
Keyword(s):  
Decision Making ◽  
Financial Reporting ◽  
Small Firms ◽  
Financial Statements ◽  
Financial Accounting ◽  
Organizational Decision Making ◽  
Business World ◽  
Degree Of Satisfaction ◽  
Modern Business ◽  
And Control

Small firms’ role in the modern business world is well recognized. Despite such recognition, there exists a dearth of research in small firms, particularly in understanding the implications of accounting and finance. This paper reports the results of an empirical study carried out on the financial accounting and reporting of small firms in Bangladesh. Financial reporting does not seem to be important in these firms except for complying with tax formalities. No systematic way of presenting financial figures among the firms was observed. Most firms’ financial statements do not provide any database for organizational decision making. The managers have a high degree of satisfaction, particularly with the format used in presenting financial statements. On the contrary, they hardly use those financial statements in organizational decision making and control. They prefer to use a simple form of financial statement and show almost no concern for users’ need and attaining financial control.

scholarly journals Impacto e Interpretación de estados financieros en MYPIMES en la región

2019 ◽  
pp. 31-42
Author(s):  
Juan Silva-Contreras ◽  
Adriana Paredes-Barrón ◽  
Claudia González-Moreno ◽  
Sandra Ivette García-Pichardo
Keyword(s):  
Decision Making ◽  
Financial Accounting ◽  
Resource Optimization ◽  
Basic Information ◽  
Economic Entity ◽  
Economic Decisions ◽  
Specific Interpretation ◽  
The Right

Accounting is such an ancient activity or discipline that some authors consider it to be art, science or discipline, which teaches the rules and procedures for classifying and recording operations carried out by economic authorities, who are constituted as natural persons or moral persons with commercial, industrial, scientific, religious, government, basic information that serves as a livelihood to develop financial and useful information to the economic body in the taking of of their economic decisions in regular and irregular periods. Whereas some of the objectives of presents her research consists in quantifying the financial reality of the company, according to the rules, procedures and fiscal provisions, through the application of various financial reasons, giving a diagnosis generally to the economic entity, to contribute to decision-making on resource optimization. The present project was carried out with the aim of measuring the economic and financial reality in which most of the companies located in the region are located, it is an important derived issue, where many companies only the objective is to invest, but is not reanalyzed , a financial accounting diagnostic to verify profitability and whether it is appropriate to continue investing, or otherwise make a small modification, and find the right investment point in the business. In particular, the company "Cadena de tiendas Cristyfer" will be discussed through the application of financial reasons, thus giving a specific interpretation and analysis to each of these. Located in the community of San Ignacio de Mogotes, municipality of Valle de Santiago, Gto. México.

FEATURES OF THE ANALYSIS FOR MANAGEMENT DECISION MAKING

2015 ◽  
Vol 10 (3) ◽  
pp. 30-34
Author(s):  
Фасхутдинова ◽  
Milyausha Faskhutdinova ◽  
Садриева ◽  
Elvira Sadrieva
Keyword(s):  
Decision Making ◽  
Information Needs ◽  
Financial Analysis ◽  
Management Accounting ◽  
Financial Accounting ◽  
Enterprise Management ◽  
Management Decision ◽  
Internal Factors ◽  
Management Decision Making ◽  
The One

This article discusses the essence of the analysis, required for management decision-making in the enterprise. Management analysis is the observation of the dynamics of the internal and external changes, that will respond quickly to changing external and internal factors and adjust the irrelevant goals and strategies, forecast the situation for the future. On the one hand, the management analysis can be a type of economic analysis and, on the other hand, it can be integrated with management accounting and is designed to provide the information needs of administration in the analytical information for management decision-making. The The statement, organization and content of the information of management accounting and analysis is individual for each enterprise, unlike financial accounting and financial analysis.

Dilemmas and Directions in the Consideration of Differences in Teachers and Students’ Evaluations of Recommended Financial Accounting Textbooks

2020 ◽  
pp. 002205742097205
Author(s):  
Oyebode Stephen Oyetoro
Keyword(s):  
Decision Making ◽  
Empirical Data ◽  
Curriculum Evaluation ◽  
Financial Accounting ◽  
Southwestern Nigeria ◽  
Open Discourse ◽  
Teachers And Students ◽  
Evaluative Research ◽  
Senior Secondary ◽  
Curricular Decision Making

This provocation focuses on the problems that may emanate from the consideration of differences between stakeholders–teachers’ and students’ evaluation of recommended textbooks for informed curricular decision making. The article draws on empirical data from a study on the evaluation of recommended senior secondary financial accounting textbooks in Southwestern Nigeria. It highlighted the emergence of four dilemmas and describes how a focus on resolving them can proffer remedy for the perennial worrying about the contemptuous misconstructions in the consideration of curriculum (evaluation) outcomes. The article also offers an open discourse for evaluative research practitioners.

scholarly journals Practices of Financial and Management Accounting: Evidence fromSmall and Medium-Sized Enterprises of Nepal

2016 ◽  
Vol 9 (1) ◽  
pp. 77-86
Author(s):  
Gyaneswar Sharma
Keyword(s):  
Decision Making ◽  
Management Accounting ◽  
Balance Sheet ◽  
Perceived Usefulness ◽  
Financial Accounting ◽  
Accounting System ◽  
Sampling Frame ◽  
Published Evidence ◽  
Accounting Reports ◽  
Effective Use

76     One of the important factors which determine the performance of a business  organization is effective use of financial and management accounting system.  In Nepal, very few published evidence on the accounting practices among small and medium sized enterprises (SMEs) is found. In this regards, this study aims to examine the financial and management accounting practices among SMEs in Nepal and to investigate perceived usefulness of these reports for decision making process. A survey was carried out using the SMEs in the various nature of business listed by industrial statistics as sampling frame. The findings from  the study has provided relevant and useful insights about the current financial  and management accounting practices and the level of perceived usefulness of the accounting reports among SMEs. The result of the study indicates that a majority of the SMEs surveyed prepare their accounting reports at least one times in a year.  Man agement accounting reports were perceived to be more useful and decision making tool than financial accounting reports. Among the financial accounting reports, profit and loss statement was considered as most useful, followed by balance sheet and cash flow. It also found that there is no significance mean difference of practices of each accounting system across three types of SMEs.Journal of Nepalese Business Studies Vol. 9, No. 1, 2015 pp. 77-86

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