Value Relevance of Adopting IFRS Or U.S. GAAP for the Cross-listed Financial Firms in the United States PDF Download
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Author: 李偉慈
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Book Description
Author: 李偉慈
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
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Book Description
Author: Nick Antill
Publisher: Harriman House Limited
ISBN: 0857197770
Category : Business & Economics
Languages : en
Pages : 286
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Book Description
Revised and updated. The influence of International Financial Reporting Standards (IFRS) on accounting across the world is stronger than ever. Most importantly, this stems from the mandatory adoption of IFRSs in many parts of the world, including Europe, Canada, Australia, Brazil and, with some relatively small exceptions, China. Additionally, foreign registrants in the US are also permitted to use IFRS by the SEC. The impact of IFRSs also extends to accounting developments as the IASB and the FASB work closely together to formulate new standards such as those recently issued on leasing and revenue recognition. It is clear that investors, analysts and valuers need to understand financial statements produced under IFRS to feed in to their valuations and broader investment decisions. Written by practitioners for practitioners, the book addresses valuation from the viewpoint of the analyst, the investor and the corporate acquirer. It starts with valuation theory: what is to be discounted and at what discount rate? It explains the connection between standard methodologies based on free cash flow and on return on capital. And it emphasizes that, whichever method is used, accurate interpretation of accounting information is critical to the production of sensible valuations. The authors argue that forecasts of cash flows imply views on profits and balance sheets, and that non-cash items contain useful information about future cash flows - so profits matter. The book addresses the implications for analysis, modelling and valuation of key aspects of IFRS, all updated for recent developments, including: - Pensions - Stock options - Derivatives - Provisions - Leases - Revenue recognition - Foreign currency The text also sets out the key differences between IFRS and US GAAP treatments of these issues, in addition to their implications for analysis. A detailed case study is used to provide a step-by-step valuation of an industrial company using both free cash flow and economic profit methodologies. The authors then address a range of common valuation problems, including cyclical or immature companies, as well as the specialist accounting and modelling knowledge required for regulated utilities, resource extraction companies, banks, insurance companies, real estate companies and technology companies. Accounting for mergers and disposals is first explained and then illustrated with a detailed potential acquisition.
Author: Francesco De Luca
Publisher: Springer
ISBN: 9783031151552
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The globalization of financial markets worldwide has progressively pushed toward simultaneous globalization of accounting information. Thus, during the last 50 years, categories of preparers, users, and regulators have devoted their efforts to support the global comparability of financial reporting aiming at favoring the comparison of corporates’ financial performances at a cross-country level. In the same vein, IASB, national standard setters, and jurisdictions have participated in and given momentum to this process. At the same time, academic research has followed this process and tried to build a theoretical framework to address the related issues, to assess the impact on preparers, users, and regulators, while defining hindrances and obstacles to the comparability of financial reporting especially in an IFRS environment. In this context, this book reviews research studies on the comparability of financial reporting at a global level as well as highlights empirical analyses that demonstrate the extent to which global comparability has been achieved, and how it enhances value relevance of earnings across countries. It also looks at the cross-country investors’ perspectives by shaping the empirical analysis to provide further insights on the role of the "Big Four" auditing services in enhancing the comparability of earnings. The book provides an original contribution to the current debate about the comparability of financial reporting under IFRS and will be useful for researchers in the field.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Ruth Ann McEwen
Publisher: Harriman House Limited
ISBN: 0857190229
Category : Business & Economics
Languages : en
Pages : 154
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Book Description
By January 2012 all major economies, apart from the US, will provide financial reports using International Financial Reporting Standards (IFRS). This book sets out the key differences between IFRS and US GAAP from a practitioner's perspective, although financial analysts will also benefit from the material presented. The financial crisis has been attributed to, among other things, a perceived lack of transparency in the financial markets. In general, transparency implies an ability to see the reported results of an entity's financial activities clearly and to use these results in making investment decisions. At question is the belief that transparency in financial reporting will lead to transparency in financial markets. Unfortunately, this link may be more subjective than most of us wish. Ruth Ann McEwen presents an analysis of reporting issues affecting transparency under IFRS, compared with US GAAP, and suggests areas of concern for preparers and users of financial reports. Providing an invaluable guide for all accountancy professionals, the book also contains a technical analysis of major accounting issues raised by convergence, and indicates areas of interest during initial adoption of IFRS by US entities. This authoritative book provides all the essential information required for advanced practitioners and analysts at this critical juncture.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities, Insurance, and Investment
Publisher:
ISBN:
Category : Asset-backed financing
Languages : en
Pages : 228
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Book Description
Author: Vera Palea
Publisher: FrancoAngeli
ISBN: 9788846480880
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
Author: Sharon Price
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 186
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Book Description
The transition towards a set of high quality global standards is well under way with over 120 countries adopting International Financial Reporting Standards (IFRS). The United States (US) has taken a significant step towards adopting IFRS by accepting financial statements prepared with IFRS from foreign listed companies in domestic stock exchanges. This study adds to the earnings quality literature regarding predictive ability by comparing IFRS and US Generally Accepted Accounting Principles (US GAAP). The predictive ability of disaggregated earnings prepared with IFRS in forecasting future cash flows in a single research setting under SEC jurisdiction is examined. This research evaluates financial statements of Canadian filers in the US prior to and after adoption of IFRS. Results show no statistical difference in the overall predictive ability of IFRS and US GAAP however differences in the way the prediction is made are discovered. Inconsistencies with the predictive literature as to the importance of accruals in aiding predictive ability are found.
Author: David Cook
Publisher: Butterworths
ISBN: 9781405709033
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
Regulatory background to IFRS and us financial reporting - First-time adoption of IFRSs - Detailed comparison between IFRSs - Detailed comparison between IFRSs and US GAAP - Principal differences between IFRSs and US GAAP.
Author: Simon Falcke
Publisher: GRIN Verlag
ISBN: 3346203107
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
Seminar paper from the year 2019 in the subject Business economics - Investment and Finance, grade: 1,0, Otto Beisheim School of Management Vallendar, language: English, abstract: Starting in 2005, the portion of foreign shareholders in the Dax has risen from 45% to 58% in the last decade. In the same year, the regulation of the European Union from 2002 came into effect which required all listed firms in the European Union to report their consolidated accounts in accordance with the International Financial Reporting Standard (IFRS) from 2005 on instead of each countries’ generally accepted accounting standards (GAAP). This is just one example where the volume of investments increased concurrently with the adoption of IFRS. Therefore, the question arises if the mandatory adoption of IFRS in the EU in 2005 or in other cases significantly affected and continues to affect investment decisions among adopters or third parties. In order to better account for differences between different types of investors and investees, we differentiate between retail investors, institutional investors and corporate finance activities. Moreover, we focus on the consequence of IFRS adoption on equity investment decisions as most research appears to focus on the equity instead of the credit market. Additionally, Lourenco & Branco point out that most research which finds no significant effects of IFRS adoption on investment decisions appears to focus on voluntary adoption before 2005. Thus, this paper mainly focuses on mandatory IFRS adoption. In this context, research suggests that mandatory IFRS adopters experience significant capital markets benefits as well as enhanced foreign institutional ownership and enhanced M&A activity. Ultimately, we observe four overarching drivers behind the aforementioned observations that impact investment decisions across different types of investors and investees.
