77,086 research outputs found
Goodwill: alguns aspectos sobre suas características e sua mensuração
No full textTCC (Graduação) - Universidade Federal de Santa Catarina. Centro Socioeconômico. Curso de Ciências ContábeisO tema deste trabalho é Goodwill — alguns aspectos sobre suas características e sua mensuração. Inicialmente faz-se uma revisão bibliográfica sobre ativos tangíveis e ativos intangíveis e como mensurá-los. E ainda uma pequena abordagem sobre um ativo intangível em especial: o Capital Intelectual. Na seqüência faz-se o objeto maior desta monografia que é discorrer sobre "Goodwill", através de uma revisão bibliográfica sobre seus conceitos, métodos de como calculá-lo, como é tratado no Brasil e pelo IASB e como e amortiz-lo. Através desta pesquisa observa-se que existe diferenças entre os autores no que se refere á conceituação de Goodwill, na sua forma de calculo e mensuração. Por isso percebese a existência de grande dificuldade de se determinar uma metodologia a ser utilizada para que possa suprir a necessidade de informação dos usuários internos e externos as empresas. Sendo que os usuários internos são em geral os administradores, diretores, funcionários das empresas. E os externos são os investidores, economistas, governo e também o público em geral. O que se percebe é que dentro das possibilidades e respeitando as limitações existentes, as empresas verificam suas necessidades e determinam internamente a metodologia a ser utilizada que possam da melhor forma suprir suas necessidades de informação. Porém isso pode tornar-se arbitrário e tendencioso, como pode também ser a forma mais correta
Accounting for Goodwill: An Examination of Factors Influencing Management Preferences
No full textAbstract—This paper investigates factors that influenced the position of managements of UK-listed companies in the heated debate that surrrounded proposals for a new standard on goodwill accounting, i.e. the factors influencing whether managements preferred immediate write-off or capitalisation-based approaches. The factors investigated are derived from contracting cost theory, and include those associated with debt covenant restrictions and profitbased management schemes. They also include non-agency contracting costs. A key feature of the design is that, compared to prior research, we specify more rigorously circumstances where such contracting cost effects are, or are not, likely to be binding. In addition, the paper investigates the effects on management preferences of their beliefs about revisions in market perceptions of their companies resulting from changes in goodwill accounting. Our results support certain contracting cost-based hypotheses, but they also indicate that management beliefs about changes in market perceptions of their companies constitute a strong influence on their preferences
Setting new rules for Goodwill accounting : the british experience.
No full textCette étude a pour objet d'analyser le processus de développement de la norme relative au goodwill par l'Accounting Standards Board (ASB) britannique (FRS 10, 1997), plus précisément le processus d'émergence et d'acceptation d'une solution (activation avec tests de dépréciation) en rupture avec les diverses réglementations alors en vigueur (activation avec amortissement systématique). Dans une première partie, est proposée une évolution des réglementations nationales et internationales en la matière. Si l'« innovation » est généralement mise sur le compte du FASB américain, nous mettons en évidence le rôle moteur de l'ASB. Dans la deuxième partie, le processus de développement de FRS 10 est reconstitué sur la période 1991-1995, à travers notamment des entretiens réalisés avec le directeur de projet. Les résultats suggèrent que bien qu'envisagée assez tôt par l'ASB, cette solution ne s'est pas tout de suite imposée en raison de problèmes d'opérationnalisation. Par ailleurs, le fait qu'elle ne constitue que l'une des options proposées par FRS 10 montre la difficulté pour un normalisateur de se mettre en porte-à-faux avec la pratique dominante.The purpose of this paper is to analyse the process of development of the standard relating to goodwill by the British Accounting Standards Board (ASB) (FRS 10, 1997) and more precisely to understand how and why the ASB came to favour a solution (capitalisation of goodwill with impairment tests) at odds with the existing regulations (capitalisation and systematic amortization). The first part of the paper provides an overview of the evolution of the national and international regulations on the subject. Although this “innovation” is generally attributed to the FASB, we point out the active role of the ASB. In the second part, a detailed description of the development of the standard-setting project on goodwill within the ASB is provided for the period 1991-1995, through interviews conducted with the project director. The results suggest that although this solution appeared early in the process, its acceptance was dependent on its practical feasibility. Moreover, its final adoption as a mere option within FRS 10 highlights the fact that it is not comfortable for a standard-setter to go against the mainstream.goodwill; impairment tests; innovation; standard-setting process; goodwill; innovation; processus de normalisation comptable; tests d'impairment;
Goodwill: uma análise a partir dos artigos publicados nos principais congressos nacionais de contabilidade no período de 2000 a 2006
No full textTCC (Graduação) - Universidade Federal de Santa Catarina. Centro Socioeconômico. Curso de Ciências ContábeisUm dos temas da contabilidade que vem aparecendo com destaque no meio acadêmico e empresarial é o goodwill, que, de acordo com diversos autores é o mais intangível entre os ativos intangíveis. Apesar desse interesse, a abordagem sobre goodwill tem gerado muitas discussões acerca de seu conceito e avaliação, bem como, a forma de sua evidenciação pelas organizações. Com o objetivo de contribuir positivamente para estas discussões, este trabalho surge com o objetivo de sistematizar e analisar as diferentes percepções e configurações sobre este tema. Neste intuito, verifica publicações recentes dos principais congressos brasileiros de contabilidade, bem como, na Revista Contabilidade & Finanças da USP, editadas no período entre 2000 e 2006. Os principais resultados deste percurso revelam que no ano de 2004 este tema se apresentou com bastante ênfase e foi muito debatido pelos pesquisadores, onde, na pesquisa, três deles mereceram destaque com maior número de trabalhos publicados, observa-se ainda, que a maioria destes possui mais de quatro autores. Revela também a importância dos autores brasileiros, que se destacam nas citações bibliográficas dos artigos pesquisados, onde se observou empenho pouco superior nas pesquisas teóricas e na apresentação dos conceitos sobre goodwill, que ainda não tem uma definição amplamente aceita
Disclosure Requirements in IAS 36 Paragraph 134. A Study of Company Characteristics Explaining Swedish Companies' Compliance with Disclosure Requirements on Goodwill Impairment Testing
No full textBackground and Discussion: The adoption of the IFRS by Swedish companies was an arduous task which required a lot of resources and time. The regulations that the IFRS contain are more complex and require more extensive disclosures than Swedish companies are used to. It can be a difficult task for companies to comply with IAS 36 disclosure requirements and at the same time not to disclose too much of a company’s specific information. The importance of disclosure should not be underestimated, as more disclosures lead to lower cost of capital. Recent studies show that disclosures about goodwill impairment testing provided by companies are too general and not sufficient to enable users of financial statements to assess the reliability of goodwill impairment testing.
Research Question: The research question of this thesis is to what extent company characteristics may explain the degree of compliance with disclosure requirements in paragraph 134 of IAS 36. In order to measure the degree of compliance, the examination of goodwill impairment accounting practices has been conducted.
Methodology: The research question has been addressed using an empirical approach with an emphasis on note-form disclosures in the 2011 and 2011/2012 consolidated financial statements of Swedish firms listed on NASDAQ OMX Stockholm. This study has examined relationships between company-specific, institutional and goodwill-related company characteristics and degree of compliance with disclosure requirements in paragraph 134 of IAS 36 with the help of multiple regression analysis. The degree of compliance in this study is measured by a self-constructed index.
Results and conclusions: The study has shown that a combination of examined company characteristics explain only about 9 % of the degree of compliance with disclosure requirements in paragraph 134 of IAS 36. Regarding company-specific characteristics, this study has indicated that company size has a significant impact of the degree of compliance with disclosure requirements as larger companies seem to have a higher degree of compliance. No significant relationships between company performance and degree of compliance as well as between financial needs and degree of compliance have been found in this study. The study has further indicated that degree of compliance with disclosure requirements regarding goodwill impairment tests varies across industries and auditor firms. Finally, the results of this study show that goodwill-related characteristics do not seem to have a significant impact on the degree of compliance with disclosure requirements, as no significant relationships between the degree of compliance and the amount of goodwill on the balance sheet of the company and the degree of compliance and the goodwill impairment rate were found
Value relevance do nível de disclosure das combinações de negócios e do goodwill reconhecido nas empresas brasileiras
No full textTese (doutorado) - Universidade Federal de Santa Catarina, Centro Sócio-Econômico, Programa de Pós-Graduação em Administração, Florianópolis, 2015.O Brasil convergiu suas normas contábeis aos padrões internacionais do International Accounting Standards Board (IASB). Um dos eventos relevantes nesse contexto foi a emissão do pronunciamento contábil CPC-15 tratando das combinações de negócios, cujos procedimentos estão alinhados à norma IFRS 3 do IASB. A referida norma internacional é considerada um dos tópicos mais complexos atinentes às normas do IASB, que exige intensa utilização do valor justo (BABOUKARDOS; RIMMEL, 2014). A complexidade em torno da norma engloba o disclosure das informações relativas às combinações de negócios e do goodwill reconhecido nessas transações, os comentários enviados ao IASB acerca da pós-implementação da IFRS 3 revisada confirmam essas dificuldades. Nesse ambiente, Schipper, (2007); Leuz e Wysocki, 2008; Tsalavoutas e Dionysiou (2014) e Baboukardos e Rimmel (2014) discorrem que existem poucos estudos tratando sobre o disclosure obrigatório. Este trabalho tem como objetivo verificar o value relevance do nível de disclosure das combinações de negócios e do ágio por expectativa de rentabilidade futura (goodwill) reconhecido nas empresas brasileiras. O levantamento das combinações de negócios foi feito por meio dos fatos relevantes divulgados no site da Comissão de Valores Mobiliários (CVM). A amostra de pesquisa é composta pelas empresas de capital aberto brasileiras que realizaram alguma combinação de negócio no período entre 2010 e 2013 e tiveram o papel de adquirente na transação, perfazendo uma amostra de 202 observações. Para mensurar o nível de disclosure, elaborou-se uma métrica a partir do CPC-15 R1 (2011) realizando a abertura de alguns itens de divulgação a fim de alcançar um maior detalhamento das informações. A coleta dos dados foi por meio das notas explicativas integrantes das Demonstrações Financeiras Padronizadas (DFPs) anuais disponibilizadas no website da Bolsa de Valores, Mercadorias e Futuros de São Paulo (BM&BOVESPA). Através de um modelo de regressão múltipla, visando avaliar o value relevance do nível de disclosure e do goodwill reconhecido, foram adotadas três abordagens relativas à7variável dependente preço das ações, quais sejam: abordagem 1) preço da ação três meses após o encerramento do exercício social; abordagem 2) preço da ação no encerramento do exercício social; e; abordagem 3) preço da ação imediatamente após a publicação das DFPs no site da BM&BOVESPA. Os resultados demonstraram que o nível de disclosure das combinações de negócios é positivamente e significativamente relacionado com o preço das ações das empresas brasileiras, nas três abordagens utilizadas. Já o goodwill reconhecido nas combinações de negócios, embora em média apresente um valor significativo na transação, não demonstrou significância estatística para explicar o preço das ações em nenhuma das abordagens utilizadas. Vale destacar também que a média do nível de disclosure das combinações de negócios analisadas foi muito baixa, não sendo suficiente para proporcionar uma visão dos fatores que integram o goodwill adquirido.Abstract : Brazil has harmonized its accounting rules with those set forth by the International Accounting Standards Board (IASB). An event of particular note during this process was the creation of the accounting pronouncement CPC-15, which concerns business combinations, detailing procedures in accordance with the IASB standard IFRS 3. Considered one of the most complex topics within the realm of IASB rules, this standard espouses extensive use of fair value measurement (BABOUKARDOS; RIMMEL, 2014). A share of the complexity surrounding the rule encompasses the disclosure of information concerning business combinations and the goodwill recognized in such transactions, the commentary provided to the IASB in respect to the post-implementation review of IFRS 3 attests to these difficulties. Upon addressing these circumstances, Schipper (2007), Leuz and Wysocki 2008, Tsalavoutas and Dionysiou (2014), and Baboukardos and Rimmel (2014) point to the existence of few studies on mandatory disclosure. The objective of this study is to examine the value relevance of the disclosure level of business combination and goodwill recognized by Brazilian companies. The business combinations that took place during this period were identified by way of details concerning the same disclosed by the Comissão de Valores Mobiliários (CVM) website. The research sample is composed of the publically traded Brazilian companies that underwent any type of business combinations, as the acquiring entity, between 2010 and 2013, which yielded a total sample of 202 observations. To measure the disclosure level of each, a gauging device was created using CPC-15 R1 (2011) as its base, delving into certain disclosure items in order to render a greater level of detail. Data collection was carried out using the footnotes to the annual standardized financial statements (DFP) available on the São Paulo Stock Exchange (BM&BOVESPA) website. Using a multiple regression model and seeking to evaluate the value relevance of the disclosure level and recognized goodwill, the following three approaches to the stock price the dependent variable, were adopted: 1) the stock price three months9following the balance sheet date; 2) the stock price at the balance sheet date; and 3) the stock price immediately after the publication of the financial statements on the BM&BOVESPA website. The results revealed that disclosure levels in business combinations is positively and significantly associated to the stock price of Brazilian companies, as shown by each of the three approaches employed in the study. As to the recognition of goodwill during business combinations, despite the fact that it represents a significant share of the value of the transaction, no statistical significance explaining stock price behavior was found by way of any of the approaches employed. It also bears mentioning that the disclosure level in regard to the business combinations in question was quite low, and thusly it did not allow for insight into the factors that result in the goodwill acquired
Value-relevance of expensed and capitalized intangibles - a French survey
No full textSignificant difference exists between the market value and book value of firms. It could be attributed to the fact that intangible assets are not reflected in the financial statements. Our resuls indicate a statistical association between the "capitalized goodwill" and the market-to-book ratio, but do not indicate any statistical link with the "expensed intangible-intensity" nor the "capitalized intangible-intensity". These results support and contradict, for a part, the explanation on the loss of value relevance of financioal information, which could be due to the non-recognized intangibles in financial statements. However, the differing French and American accounting treatments of intangible expenditures may explain why these expenses are not taken into account by french capital markets when estimating the value of companies.Intangible intensity; Market-to-Book ratio; Value-relevance; Goodwill; Capital markets; Ohlson model
Public Disclosure Programs vs. Traditional Approaches for Environmental Regulation: Green Goodwill and the Policies of the Firm
No full textA Public Disclosure Program (PDP) is compared to a traditional environmental regulation (exemplified by a tax/subsidy) in a simple dynamic framework. A PDP aims at revealing the environmental record of firms to the public. This information affects its image (goodwill or brand equity), and ultimately its profit. In our model, this impact is endogenous, i.e., a firm polluting less than its prescribed target would win consumer's sympathy and raises its goodwill, whereas it is the other way around when the firm exceeds its emissions quota. The evolution of this goodwill is assumed to depend also on green activities or advertising expenditures. Within this framework, we analyse how a PDP affects the firm's optimal policies regarding emissions, pricing and advertising as compared to a traditional regulation. We show that advertising acts as a complementary device to pricing and that emissions are increasing in goodwill. We also conclude that the effects of a PDP are more pronounced than those of traditional instruments for firms with a high goodwill. Moreover, we study under which conditions a PDP may be profit improving and we connect this issue to the possibility that a PDP can induce firms to overcomply with the standard. The numerical value of the emission target is rather innocuous in a market-based setting but it turns to be a crucial variable in the presence of a PDP. The theoretical results are complemented with a numerical illustration.Market-based Environmental Regulation, Public Disclosure Program, Pricing, Advertising, Goodwill, Optimal Control.
Purchase Price Allocations: Do they Matter?
No full textStandards setters support that purchase price allocations (PPAs) enhance financial statement decision-usefulness whereas academics and practitioners challenge this statement. We test the consequences of the quality of PPAs, subsequent to business combinations, on change in market expectations. Using the concept of abnormal goodwill - as a proxy for PPAs' quality - we test the association between PPAs' quality and analyst forecasts revisions, change in forecasts dispersion, and analysts' accuracy of 200 major U.S. business combinations. We do not find evidence that PPAs' quality have material impact on change in market expectations, suggesting that market participants fail to fully integrate information content of PPAs. Consistently, we provide evidence that PPAs' quality enables to generate a profitable investment strategy as cumulated abnormal returns can be systematically generated based on abnormal goodwill recognized in PPAs.Purchase Price Allocation; Market Expectations; Abnormal Goodwill; Business Combination
The (in)coherence in accounting for goodwill: Implications for a revision of international accounting standards
No full textPurpose – In the process of harmonizing International Accounting Standards (IAS/IFRS), scholars and
standard setters still need to overcome unresolved issues related to both goodwill duration and accounting
recognition. This paper aims to compare the academic background on goodwill with current IAS. Specifically,
the goal is to criticize existing practices and advance a revision of accounting for goodwill.
Design/methodology/approach – The paper is based on a review of the relevant literature on notions,
theories and accounting approaches on goodwill and on an investigation of IAS/IFRS on accounting for
goodwill. By critically integrating literature and practices, the authors provide implications for a revision of
IAS.
Findings – The findings show the two main internally coherent theoretical approaches and the incoherence
in current goodwill accounting standards. The paper contributes to the debate on accounting for goodwill by
suggesting new conceptual arguments in relation to the controversies related to its accounting treatment.
Practical implications – The findings offer insights and guidelines that can help standard setters revise
current accounting standards. Inter alia, standards setters should revisit issues related to goodwill evaluation
and record limitations in future debates to find better solutions.
Originality/value – This study shows the incoherence of current accounting standards. Furthermore, the
findings contradict the general opinion that, in current IAS, goodwill can be recognized only if acquired in
business combinations and not if internally generated. Thereby, the authors suggest to shift the international
accounting standards board focus from the preference between amortization and impairment to the coherence
of goodwill accounting approache
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