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Author: International Accounting Standards Committee
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 22
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Book Description
Author: International Accounting Standards Committee
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 22
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Book Description
Author: Meryem Önüt
Publisher: GRIN Verlag
ISBN: 3668549907
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
Master's Thesis from the year 2015 in the subject Business economics - Accounting and Taxes, grade: 2,0, University of Hohenheim, language: English, abstract: The purpose of this thesis is to provide direct empirical evidence on the use of the Amendment according to IAS 39 regarding the reclassification of financial instruments. It therefore reviews what happened when the accounting policies were switched from fair value accounting to historical accounting during the financial crisis in 2008. Using a sample of manually collected data from Western European banks, the thesis empiri-cally examines which banks used this reclassification option to deal with problematic financial assets and how these reclassification activities are correlated with other firm characteristics. Furthermore, the thesis shows the influence of the amount of assets in each fair value level on the fair value hierarchy and the impact of the banks’ regulatory capital during the height of the financial crises on the use of the relaxation option. The final aim is to analyze the economic consequences of this option and to determine how beneficial it is for the global financial system, considering that banks will again make use of this sort of permission in other, future crises. After the development of the International Financial Reporting Standards (IFRS) by the International Accounting Standard Board (IASB) in 2001, the European Union (EU) decided to unify the jurisdictions for all listed corporations and therefore decreed a mandatory adoption of IFRS in the EU. The EU reasoned that common ac-counting standards improve capital market efficiency and reduce information processing and auditing costs. However, the decisive reason for the adoption of IFRS was that today’s global economy requires global standards to ensure transparency, accountability and comparability of financial accounts. IFRS was preferred because of its focus on a fair value-based method of accounting compared to historical cost accounting, and the EU claimed that adopting IFRS would bring financial stability while serving the interests of the public.
Author:
Publisher:
ISBN: 9781907026478
Category : Assets (Accounting)
Languages : en
Pages : 37
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Book Description
Author: Steering Committee on Financial Instruments
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 218
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Book Description
Author:
Publisher:
ISBN: 9781911040927
Category :
Languages : en
Pages : 147
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Book Description
Author: Ulf Brüggemann
Publisher: Springer Science & Business Media
ISBN: 3834969524
Category : Business & Economics
Languages : en
Pages : 162
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Book Description
Ulf Brüggemann discusses and empirically investigates the economic consequences of mandatory switch to IFRS. He provides evidence that cross-border investments by individual investors increased following the introduction of IFRS.
Author: International Accounting Standards Board
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 58
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Book Description
Author: International Accounting Standards Board
Publisher:
ISBN:
Category : Assets (Accounting)
Languages : en
Pages : 32
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Book Description
Author: International Accounting Standards Board
Publisher:
ISBN: 9781904230496
Category : Business insurance
Languages : en
Pages : 46
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Book Description
Author: Gilad Livne
Publisher: Routledge
ISBN: 131722132X
Category : Business & Economics
Languages : en
Pages : 346
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Book Description
The concept of "fair value" marked a major departure from traditional cost accounting. In theory, under this approach a balance sheet that better reflects the current value of assets and liabilities. Critics of fair value argue that it is less useful over longer time frames and prone to distortion by market inefficiencies resulting in procyclicality in the financial system by exacerbating market swings. Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by internationally recognized experts, this book, on a controversial and intensely debated topic, is a comprehensive reference source which: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical and practical perspectives, including a critical review of the merits and arguments against the use of fair value accounting explores fair value accounting in practice, involvement in the Great Financial Crisis, implications for managerial reporting discretion, compensation and investment This volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.
