AKM Mortgages, Inc.

2013 ◽  
Vol 28 (4) ◽  
pp. 1031-1048
Author(s):  
Sanjian (William) Zhang ◽  
John W. Paul ◽  
Xuan Huang
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Mortgage Loan ◽  
Financial Statement ◽  
Business Practices ◽  
Red Flags ◽  
Credit Crisis ◽  
Senior Year ◽  
Mortgage Loans ◽  
Mortgage Industry

ABSTRACT This case uses a real mortgage company that was once the tenth largest mortgage loan originator in the U.S. The case sheds light on some important accounting issues in the mortgage bank industry and on industry-specific business risks. Students are required to read AKM's financial statements; identify business risks associated with its business practices; find red flags from the multiple-period cash flow statements; and, finally, comment on its accounting of mortgage loans held for sale, mortgage loans held for investment, and securities. This financial statement analysis case can help senior-year accounting majors or graduate-level accounting or finance students to understand related accounting standards for the mortgage industry and probable earnings misstatements at mortgage banks. It also can serve as timely reading for students who are interested in the recent credit crisis.

Inferring U.S. Tax Liability from Financial Statement Information

2009 ◽  
Vol 31 (1) ◽  
pp. 29-63 ◽  
Author(s):  
Petro Lisowsky
Keyword(s):  
Stock Options ◽  
Accounting Standards ◽  
Financial Statements ◽  
Income Taxes ◽  
Financial Accounting ◽  
Financial Statement ◽  
Corporate Tax ◽  
Data Set ◽  
Accounting For Income Taxes ◽  
Tax Expense

Abstract: Using a multi-year matched tax return-financial statement data set, this study builds empirical models that infer U.S. tax liability on the corporate tax return from publicly available financial statement disclosures, including those of Statement on Financial Accounting Standards No. 109, Accounting for Income Taxes. Results show that current U.S. tax expense, the tax benefit from stock options, current-year tax cushion accrual, consolidation book-tax differences, and R&D are informative in inferring actual tax, while intraperiod tax allocation is not. Additionally, the sign of pretax book income and the existence of net operating loss carryforwards are useful partitioning variables in estimating actual tax. In general, for every dollar of current U.S. tax expense reported on the financial statements, approximately $0.70 is reported in U.S. tax liability on the tax return. The models are validated using a holdout sample, providing support for the notion that public parties can reliably use these results to estimate a firm's tax position. Additional tests reveal a hierarchy of subsamples that researchers may employ when maximizing the usefulness of tax-related disclosures in inferring U.S. tax liability.

scholarly journals EVALUASI STANDAR AKUNTANSI KEUANGAN ENTITAS MIKRO KECIL DAN MENENGAH (SAK EMKM) TAHUN 2018 PADA USAHA SINAR TERANG DI SAMARINDA

2019 ◽  
Vol 3 (1) ◽  
pp. 152
Author(s):  
Pandu Prahadi Pangestu, Elfreda Aplonia Lau, Sunarto
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Statement ◽  
Analysis Technique ◽  
Descriptive Method

This study aims to evaluate whether the recognition of items in financial statements, measurement of financial statement elements, presentation of items in financial statements and disclosure of financial statements in Sinar Terang Business are in accordance with the provisions in Micro, Small and Medium Entity Financial Accounting Standards (SAK EMKM) 2018.The theory used in this study is financial accounting. The hypothesis stated is the recognition of accounts in financial statements, measurement of financial statements, presentation of items in financial statements, and disclosure of financial statements not in accordance with the 2018 Micro, Small and Medium Entity Accounting Standards (SAK EMKM).The analysis technique used in this study is a comparative descriptive method, which is a method that compares accounting treatment that includes recognition, measurement, presentation and disclosure based on SAK EMKM   2018 with recognition, measurement, presentation and disclosure in Sinar Business and Champion methods for calculating checklist value in determining conformity criteria.The results of the study indicate that the recognition and measurement of the items in the financial statements of Sinar Terang Business are not in accordance with SAK EMKM. Whereas the presentation and disclosure of financial statements for Sinar Terang Business do not match the SAK EMKM

scholarly journals Analysis Of Presentation Of Sharia Financial Statements According To Psak 101 At Pt. Mandiri Sharia Bank

2021 ◽  
Vol 2 (4) ◽  
pp. 1175-1183
Author(s):  
Fera Riske Anggita ◽  
Tommy Kuncara
Keyword(s):  
Accounting Standards ◽  
Secondary Data ◽  
Financial Statements ◽  
Relevant Information ◽  
Financial Accounting ◽  
Financial Statement ◽  
Islamic State ◽  
Literature Study ◽  
Financial Position ◽  
Other Information

The presentation of Islamic Financial Statements has been regulated in PSAK 101 and every bank needs to refer to it. As we know, PT Bank Syariah Mandiri is the number 1 largest Islamic bank in Indonesia and other information obtained by researchers, PT Bank Syariah Mandiri will merge with 2 other Islamic state-owned banks, namely PT Bank BNI Syariah and PT Bank BRI Syariah. Therefore, researchers are interested in examining whether the financial statements of PT Bank Syariah Mandiri are appropriate in applying the application of Financial Accounting Standards 101. The types of data used are qualitative and quantitative data, the data used are general company information and company financial statement information in 2019. Sources the data used is secondary data. The data collection method is literature study. In the financial statements of PT Bank Syariah Mandiri, the bank has reported all components of the financial statements in PSAK 101. In the Statement of Financial Position PT Bank Syariah Mandiri does not include the Istishna Assets in Settlement and Salam Receivable accounts in the Statement of Financial Position, but in PSAK 101 Paragraph 61 explains Statement of Financial Accounting Standards 101 does not regulate the composition or format of presentation of statement of financial position items. PT Bank Syariah Mandiri continues to present relevant information on the Statement of Financial Position. However, in PSAK 101 Paragraph 61 explaining the Statement of Financial Accounting Standards 101 does not regulate the composition or format of the presentation of the statement of financial position. PT Bank Syariah Mandiri continues to present relevant information on the Statement of Financial Position. However, in PSAK 101 Paragraph 61 explaining the Statement of Financial Accounting Standards 101 does not regulate the composition or format of the presentation of the statement of financial position. PT Bank Syariah Mandiri continues to present relevant information on the Statement of Financial Position.

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.

Performance measurement and management for manufacturing SMEs: a financial statement-based system

2017 ◽  
Vol 21 (1) ◽  
pp. 17-36 ◽  
Author(s):  
Moujib Bahri ◽  
Josée St-Pierre ◽  
Ouafa Sakka
Keyword(s):  
Performance Measurement ◽  
Low Cost ◽  
Secondary Data ◽  
Specific Area ◽  
Financial Statements ◽  
Financial Statement ◽  
Business Practices ◽  
Content Type ◽  
Overall Performance ◽  
Probabilistic Sample

Purpose The purpose of this paper is to propose a performance measurement and management system (PMMS) for small- and medium-sized enterprises (SMEs) based on an analysis of the connections between the firm’s business practices and financial results as reported in the financial statements. Design/methodology/approach Secondary data on the business practices and financial statements of 108 Canadian manufacturing SMEs were taken from a private database. Items from financial statements were used to measure the firm’s performance in specific areas such as sales and current assets management, while net profit was used to measure the overall performance. Information about the level of adoption of more than 120 business practices by the sampled firms was also used. Step-wise regression was then performed for two consecutive years to identify the business practices that had significantly influenced the items in the financial statements. Findings The findings show that an understanding of the business practice/financial statement connection can be useful in managing SME performance. The regression analyses provide rich and interesting results. They indicate that some practices influence performance quickly, while others have a deferred effect. In addition, some practices have impacts that are significant in specific areas of the organization but insignificant in terms of overall performance, while others affect the firm’s overall performance but not the specific area they are intended to improve. Research limitations/implications The main limitation of the study is the non-probabilistic sample. However, the sampled SMEs vary widely in their characteristics, which should partially mitigate the negative impacts of a non-probabilistic sample. Practical implications The paper offers a useful and low-cost PMMS for SMEs, using information that is easily available to owner-managers. It shows that SME performance can be managed using a simple system built around the firm’s financial statements. Originality/value The study is one of the first to empirically test the connection between an extensive list of SME business practices and the financial results presented in the firms’ financial statements.

How Does Local Adoption of IFRS for Those Countries That Modified IFRS by Design, Impair Comparability with Countries That Have Not Adapted IFRS?

2017 ◽  
Vol 16 (3) ◽  
pp. 59-90 ◽  
Author(s):  
Elizabeth Felski
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Statement ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Study Results ◽  
Reporting Environment ◽  
Proper Translation

ABSTRACT Global adoption of International Financial Reporting Standards (IFRS) is thought to increase financial statement reliability and comparability. Although IFRS is required or allowed in over 130 nations, some countries modify IFRS as issued by the International Accounting Standards Board (IASB). This study is designed to closely examine each country that modifies IFRS in an effort to determine whether these modifications impair financial statement comparability. First is that countries lack the resources to implement the newest version of IFRS or ensure proper translation of the standards. Second is that countries make specific changes to allow IFRS to better meet the needs of their financial reporting environment. I categorize the first set of countries as default countries and the second set as design countries. The study results in several interesting and useful contributions. First, I develop a new typology for future IFRS research that includes not only the locally adopted category, but also the default and design categories. Second, the details of how countries modify IFRS make it clear that differences can exist in financial statements prepared in different countries both using IFRS. The users must be careful to understand how comparability may be impacted by these modifications.

scholarly journals IMPLEMENTASI SAK SYARIAH DALAM LAPORAN KEUANGAN KOPERASI PENGKREDITAN RAKYAT SYARIAH (KPRS)

2020 ◽  
Vol 11 (2) ◽  
pp. 123-132
Author(s):  
Nimatul Ula ◽  
Nawirah Nawirah
Keyword(s):  
Qualitative Research ◽  
Balance Sheet ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Statement ◽  
Online Data ◽  
Financial Reports ◽  
Financial Report ◽  
Financial Position

The purpose of this study is to determine the suitability of the presentation of the An-Nahl Pandaan KPRS financial statements to Syaria FAS. This research uses descriptive qualitative research in which the purpose is to describe and illustrate the application of Sharia Financial Accounting Standards in terms of the financial statements prepared by KPRS An-Nahl Pandaan. The techniques used in data collection are through observation, interviews, documentation, and online data search techniques. The results of the analysis and discussion of this study indicate that most of the financial statement presentations in KPRS An-Nahl are in accordance with Sharia FAS even though only the entity only reports the financial position (Balance Sheet). From the An-Nahl KPRS financial report that looks very prominent the discrepancy is that An-Nahl KPRS does not make the six other financial report components listed in the Sharia FAS because the KPRS An-Nahl management itself does not yet understand how to prepare financial reports in accordance with applicable standards.

scholarly journals REKONSTRUKSI LAPORAN KEUANGAN MASJID JAMI’ DARUSSALAM GLENMORE BERDASARKAN PSAK NO.109

2020 ◽  
Vol 4 (2) ◽  
pp. 326
Author(s):  
Fian Handayani ◽  
Yulinartati Yulinartati ◽  
Diyah Probowulan
Keyword(s):  
Cash Flow ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Statement ◽  
Financial Position ◽  
Descriptive Method ◽  
Transparency And Accountability

The Institute of Indonesia Chartered (IAI) has issued financial accounting standards in regard to financial statements of zakat, infaq / sadaqah. The standard is included in Statement of Financial Accounting Standards Number 109 (Revised 2011) concerning on financial statement of zakat, infaq / sadaqah. This research is conducted at the Jami 'Darussaalam Mosque Glenmore in order  to reconstruct the financial statements of zakat, infaq / sadaqah, thus it can be used to consider the financial statements of the Jami Darussalam Mosque in accordance with PSAK No.109 for Takmir or mosque management. This research uses a descriptive method which is conducted by observation, documentation and direct interviews with the secretary and deputy treasurer of the Takmir's Jami' Darussalam Mosque. This research is intended to describe certain conditions and symptoms in detail that occur at the Jami 'Darussaalam Glenmore Mosque, and to provide an overview of the financial statements of zakat, infaq / sadaqah of the mosque which then reconstruct the financial statements of zakat, infaq / sadaqah of the Jami' Darussalam Glenmore Mosque in accordance with applicable standards, which is PSAK No.109. Transparency and accountability on financial statement of zakat, infaq / sadaqah are completed based on PSAK 109, which consists of five components of financial statements, those are the statement of financial position, changes in fund statements, managed assets, cash flow statements, and financial statements.

scholarly journals Evaluasi Pengungkapan Laporan Keuangan Daerah di Situs Internet: Studi pada Pemerintah Daerah Indonesia

2011 ◽  
Vol 2 (1) ◽  
pp. 192
Author(s):  
Gatot Soepriyanto ◽  
Restya Aristiant
Keyword(s):  
Local Government ◽  
Web Sites ◽  
Local Governments ◽  
Research Method ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Information ◽  
Financial Statement ◽  
Government Accounting ◽  
Government Web Sites

The purpose of this study was to determine the extent of financial statement disclosure displayed on the website of local government in the years 2009-2010. The research method used is bibliography study and field study through the Internet. We found 2 types of financial information presented in the website, namely the information of financial statements and other financial information. There are 57 local governments that provide financial information from 392 local governments’ website. The 57 local government web sites, only nine local governments that provide information on its financial statements in accordance to SAP (Government Accounting Standards), while 40 local governments provide information on local government budgets (APBD) and 8 present the financial information other than financial statements according to SAP and budget information (APBD). These findings suggest that transparency and accountability of local governments related to the financial statements and other financial information on the website is still lacking. 

scholarly journals DETERMINANTS OF MORTGAGE LOAN REPAYMENT IN GHANA

2021 ◽  
Vol 3 (4) ◽  
pp. 75-89
Author(s):  
Justice Agyei Ampofo ◽  
Isaac Mantey
Keyword(s):  
Interest Rates ◽  
Low Income ◽  
Occupational Status ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Primary Data ◽  
Mortgage Loans ◽  
Loan Repayment ◽  
Mortgage Industry ◽  
The Government

The housing deficit in Ghana is an issue of concern for all. This study sought to analyse the determinants of the repayment of mortgage loans in Ghana. The study used both secondary and primary data. The mixed-method approach was used for the study. The data collection instruments were interviews, focus group discussions and questionnaires. The study revealed that socio-demographic characteristics of respondents, sex distribution of respondents, educational level of respondents, marital status of respondents, occupational status of respondents, household size of respondents, the income of respondents are some of the factors that affect the repayment of mortgage loans in Ghana. The study revealed that borrowers who earned higher income had a better repayment performance as compared to low income earning borrowers. In addition, higher household sizes have lower repayment capacity and lower household sizes have higher repayment capacity. The study recommends that the government of Ghana should institute state bodies responsible for providing liquidity to mortgages and mortgage properties and buying mortgages during periods of rising interest rates is a way of creating a secondary mortgage market for the Ghanaian mortgage industry. Keywords:  Determinants, Mortgage, Repayment, Ghana.

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