scholarly journals Koersreacties op aankondigingen van goodwill impairments in Nederland

2004 ◽  
Vol 78 (10) ◽  
pp. 454-461 ◽  
Author(s):  
S. P. Van Triest ◽  
J. Weimer
Keyword(s):  
Duidelijk Zichtbaar ◽  
Gekenmerkt Door ◽  
Us Gaap

De boekjaren 2001 en 2002 hebben zich gekenmerkt door miljardenverliezen van grote beursondernemingen door afboekingen op aangekochte goodwill. De nieuwe regelgeving omtrent de verwerking van goodwill in de jaarrekening volgens US GAAP heeft de bedrijfseconomische realiteit van de hoge acquisitieprijzen die met name eind jaren negentig zijn betaald, duidelijk zichtbaar gemaakt. Diverse Nederlandse ondernemingen die ook onder US GAAP rapporteren, hebben operationele verliezen moeten nemen door zogenoemde goodwill impairments, onder Nederlandse regelgeving bekend als duurzame waardevermindering van goodwill. In dit artikel onderzoeken we koersreacties op aankondigingen van goodwill impairments door Nederlandse ondernemingen. Onze analyse van de koersreactie op zeventien impairmentaankondigingen laat zien dat de koersreactie significant negatief is over een driedaagse tijdsperiode van één dag voor de aankondiging tot één dag na de aankondiging, maar dat de verandering van de marktwaarde van de ondernemingen gemiddeld genomen substantieel kleiner is dan de impairmentlast die aangekondigd wordt. Dit resultaat lijkt erop te wijzen dat de vermindering van de marktwaarde van de goodwill reeds grotendeels in de koers is verwerkt.

A Comprehensive Case Study: US GAAP Conversion to IFRS

2013 ◽  
Author(s):  
Peter Harris ◽  
Liz Washington Arnold ◽  
Katherine Kinkela ◽  
William Stahlin
Keyword(s):  
Us Gaap

Chinese steden in transitie

2010 ◽  
Vol 26 (3) ◽  
pp. 40-44
Author(s):  
Peter C.J. Druijven
Keyword(s):  
Gekenmerkt Door

De urbane samenleving in China wordt behalve door groei gekenmerkt door differentiatie op velerlei gebied: politiek, demograsch, sociaal-economisch en cultureel. Het lijkt of de Chinese metropolen steeds meer kenmerken gaan vertonen van andere wereldsteden, en dat er sprake zou zijn van een toenemende convergentie. Maar is die schijn ook werkelijkheid?

scholarly journals Regulatory Arbitrage in the Intersection of Accounting Standards and Tax Laws: The Case of Synthetic Leases

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Jan Friedrich
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Accounting Standards ◽  
Regulatory Arbitrage ◽  
Regulatory Changes ◽  
Tax Laws ◽  
The Usa ◽  
Tax Benefits ◽  
Sophisticated Instrument ◽  
Us Gaap

AbstractThis paper focuses on the interplay between accounting standards and tax laws in the context of regulatory arbitrage by examining the development of synthetic leases especially in the USA. In a synthetic lease, the lease remains off balance sheet for financial reporting by the lessee, while depreciations and interest expenses can be deducted for tax purposes. Exploring the evolving structures of synthetic leases over the last 30 years, the paper demonstrates how financial engineers have been able to perpetually re-structure this sophisticated instrument to keep it off-balance sheet instrument notwithstanding regulatory changes. Specifically, it shows that the most recent revision of lease accounting standards in 2016 – that intended to mark the end of off-balance sheet leases under IFRS and US-GAAP – resulted in reviving the demand for synthetic leases as the tax benefits outweigh the structuring costs. Contributing to the debate on the shift towards international accounting convergence (including US-GAAP and IFRS), the paper argues that attempts to limit regulatory arbitrage may also consider the reciprocal linkages between accounting standards and tax laws. For instance, tax laws should be considered as a means to limit regulatory arbitrage in financial reporting.

Dimmende flexibiliteit. Loopbaanperspectieven van Belgische jongvolwassenen

2007 ◽  
Vol 23 (2) ◽  
Author(s):  
Mark Elchardus ◽  
Wendy Smits
Keyword(s):  
Du Bois ◽  
Gekenmerkt Door

Heel wat auteurs beweren dat de relatie tot het werk veranderd is en dat ten gevolge daarvan de loopbaanmodellen en loopbaanperspectieven van jonge mensen zich eveneens hebben gewijzigd. De traditionele, lineaire loopbaan, waarin iemand tijdens zijn actieve leven, in het ideale geval, één job uitoefent of ten minste eenzelfde carrièrepad volgt in dezelfde tewerkstellingsector of zelfs bij dezelfde werkgever, zou nagenoeg verdwenen zijn of alleszins zeldzaam geworden (Beck, 2000; Castells, 1996; Du Bois-Reymond et al., 2001; Hesselink & Van Vuuren, 1999; Hyman, 2004; Te Poel, 1999). Het dimmen van de lineaire loopbaan wordt in verband gebracht met een culturele ontwikkeling, meer bepaald een verandering in de opvatting over zelf en werk. Jonge mensen zouden groei nu in de eerste plaats in verband brengen met zelfverwezenlijking, eerder dan met verwezenlijking in het werk of in het gezinsleven (Du Bois-Reymond et al., 2001; Honneth, 2004a, 2004b). Verwezenlijking in werk en gezin zouden daarentegen slechts als zinvol worden beleefd als zij bijdragen tot zelfverwezenlijking. Precies daarom verwachten verschillende auteurs dat jonge mensen afwijzend staan ten opzichte van langetermijnloopbaanengagementen (bijvoorbeeld Laskawy, 2005). Zij verwachten daarom dat het lineaire loopbaanmodel minstens ten dele wordt vervangen door een meer flexibele, 'spiraalvormige' loopbaan, gekenmerkt door frequente wissels van jobs, carrièrepaden, werkgevers en tewerkstellingsectoren (Brousseau & Driver, 1998; Larsson et al., 2001).

scholarly journals Nível de convergência dos princípios contábeis brasileiros e norte-americanos às normas do IASB: uma contribuição para a adoção das IFRS por empresas brasileiras

2011 ◽  
Vol 22 (56) ◽  
pp. 155-173 ◽  
Author(s):  
Valdiney Alves Oliveira ◽  
Sirlei Lemes
Keyword(s):  
Financial Reporting ◽  
Sao Paulo ◽  
International Financial Reporting Standards ◽  
São Paulo ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Big Four ◽  
Us Gaap

A presente pesquisa teve como objetivo avaliar em que nível as informações contábeis divulgadas nos mercados: brasileiro e norte-americano atendem aos requisitos da adoção inicial das IFRS - International Financial Reporting Standards. A adoção das IFRS por companhias abertas brasileiras nas suas demonstrações contábeis consolidadas foi exigida pela Comissão de Valores Mobiliários (CVM) na Instrução CVM 457/07. Por meio de uma pesquisa descritiva quanto aos seus objetivos e utilizando-se dos procedimentos técnicos de pesquisa documental e de análise de conteúdo clássica, foram analisadas as demonstrações contábeis elaboradas para o ano de 2008 de acordo com os US GAAPs e os BR GAAPs de 20 empresas brasileiras listadas simultaneamente na Bolsa de Valores de Nova York (NYSE) e na Bolsa de Valores de São Paulo (BOVESPA) e calculou-se o índice de disclosure proposto na pesquisa de Lopes e Rodrigues (2007). A pesquisa apontou para índices de disclosure calculados para o Form 20F maiores do que aqueles calculados para as Demonstrações Financeiras Padrão (DFP), confirmando um nível de convergência maior entre US GAAP e IFRS e sugerindo que, em função da adoção das IFRS as demonstrações contábeis em BR GAAP tendem a se modificar substancialmente aumentando o nível de divulgação. Além disso, os resultados confirmam para a amostra, o exposto na literatura selecionada de que o setor de atuação e o tamanho da empresa influem diretamente no disclosure das informações. Em relação aos auditores, o fato de as demonstrações serem auditadas pelas empresas globais de auditoria conhecidas como Big Four não foi determinante na extensão do disclosure.

Accounting Standards and Earnings Quality — Evidence from Registered ADRs

2018 ◽  
Vol 21 (04) ◽  
pp. 1850022
Author(s):  
Yaseen S. Alhaj-Yaseen ◽  
Kean Wu ◽  
Leslie B. Fletcher
Keyword(s):  
Financial Reporting ◽  
Earnings Quality ◽  
Accounting Standards ◽  
Securities And Exchange Commission ◽  
High Quality ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
The Us ◽  
Us Gaap

This paper examines the changes in earnings quality of registered American Depositary Receipts (ADRs) as a result of switching accounting standards. We aim to shed light on the potential impact of International Financial Reporting Standard (IFRS) adoption on US firms. A suboptimal approach to achieve this goal is through examination of US firms’ surrogates such as ADRs. Unlike previous studies, we made a distinction between registered and unregistered ADRs and affirmed that registered ADRs are the closest surrogates with which to conduct our analysis because they are exclusively required to adhere to the Securities and Exchange Commission (SEC)’s stringent disclosure requirements. When cross-listing their equity on the US exchanges, foreign issuers can file their financial reports with the SEC using IFRS, US GAAP (generally accepted accounting principles), or their domestic GAAP with reconciliation to US GAAP. An improvement in earnings quality is documented when ADRs adopt US GAAP or IFRS versus domestic GAAP. However, when the comparison is made between US GAAP and IFRS, no difference in earnings quality is documented. These results indicate that switching to high-quality accounting standards is likely to improve earnings quality. This improvement is maximized when the difference between reporting standards is high and minimized if otherwise. Our conclusion is that the adoption of IFRS in the US is unlikely to change earnings quality of local issuers. Moreover, we drew a distinction between reconciliation with and adoption of high-quality accountings standards and find that while the former can enhance earnings quality, the latter can further improve it.

scholarly journals Measuring the Procyclicality of Impairment Accounting Regimes: A Comparison between IFRS 9 and Us Gaap

2019 ◽  
Author(s):  
Alejandro Buesa ◽  
Francisco Javier Población García ◽  
Javier Tarancón
Keyword(s):  
Ifrs 9 ◽  
Us Gaap
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