1,720,970 research outputs found
L'interpretazione delle regole contabili. Analisi del ruolo dell'IFRS Interpretations Committte
No full textStandard setting in times of technological change: accounting for cryptocurrency holdings
No full textPurpose: This paper explores how the International Accounting Standards Board (IASB) has dealt with the emerging issue of accounting for cryptocurrencies by investigating its constituents' expectations and the motivations underlying its regulatory response. Design/methodology/approach: The theoretical lens of regulatory space is used to analyse the four-year debate around cryptocurrency holdings and informs the extensive thematic analysis of public documents, meetings recordings and comment letters on the topic. Findings: Facing national standard setters' initiatives to regulate accounting for cryptocurrency, the IASB defended its position in the regulatory space through an agenda decision based on ewct 2xisting standards, which was finalised by the International Financial Reporting Standards Interpretation Committee (IFRS IC) despite criticism from constituents and Board members. Research limitations/implications: The paper provides insights into the IASB approach to a regulatory vacuum regarding a new class of items, which derive from a new and rapidly-evolving technology. Disruptive technology impacts the contested arena of accounting regulation, in which the constituents ask for new solutions and the IASB tries to resist such pressures, while defending its position. Practical implications: The paper sheds light on the growing importance of agenda decisions in the IFRS environment and on the limits of the IASB long regulatory process in the circumstance of emerging accounting issues deriving from rapidly-evolving technology. Originality/value: This investigation is timely and relevant as it considers the regulatory issues arising from disruptive technological innovations (i.e. cryptocurrency), shedding light on the limits of regulatory processes in times of technological change
Forward-looking Information and Results: Evidence on Integration between Strategic Plans and Annual Reports
No full textThis paper develops the concept of disclosure integration and presents an
exploratory analysis on the topic looking at connections between forward-looking
information (FLI) in strategic plans and historical data in annual reports, focusing on
information continuity and comparability. It is based on the idea that integrating FLI with
reported results is essential to allow users to interpret corporate disclosures and to have an
indication of the likely reliability of future financial forecasts. In other terms, integration is
reached when investors are able to verify whether the previously disclosed targets have
been hit in documents covering the same topics and items with historical information.
To perform this analysis, the paper advances a proposal for an index to measure
integration based on the comparison of FLI in strategic plans and in the following annual
reports. Additionally, we investigate determinants of disclosure integration. Our findings
support the hypotheses that size and performance are significantly associated with the level
of disclosure integration
From enforcement to financial reporting controls (FRCs): a country-level composite indicator
No full textThis paper proposes a broad measure of the country-level intensity of the main monitoring activities that are likely to affect financial reporting quality. The overall indicator (FRC) is a composite indicator combining three components, which measure the intensity of three different financial reporting controls (FRCs) exercised through corporate governance, audit, and enforcement. The indicator design adds to country measures used in accounting research in several ways. First, it employs recent process-oriented data to capture the intensity of controls in a regulatory context that is characterized by increasing harmonization. Process data can be updated periodically, and thus is also suitable for longitudinal analyses. Additionally, the development of the FRC indicator applies standard techniques for constructing composite indicators without a priori assumptions and weights. The paper presents the values of the FRC indicator in 17 European countries, revealing a diversified mix of FRC intensity across Europe. Our analysis shows that the three domain-specific indicators, which can also be used separately, measure different aspects of the intensity of financial reporting controls rather than an overall country attribute. Consistency analyses also show that the FRC indicator is not capturing a latent construct of financial reporting quality present in other metrics, thus providing support for its innovative use in cross-country accounting research
Income smoothing in European banks: The contrasting effects of monitoring mechanisms
No full textThis study provides evidence of the combined effect of various monitoring mechanisms on income smoothing through loan loss provisions using data on European banks across 25 countries and covering 2003 to 2015. We find that prudential supervision increases bank income smoothing, consistent with the idea that strict supervision increases banks’ incentives to signal business stability by managing earnings. However, the effect of prudential supervision is conditional on the intensity of market discipline and accounting enforcement, which reduce income smoothing only in strict supervisory regimes. The analysis also takes into account the effectiveness of prudential supervision, measured by considering the powers of national regulators and the results of financial health checks performed by European Union regulators. The results show that the effectiveness of prudential supervision influences how other monitoring mechanisms constrain bank income smoothing. Accounting enforcement reduces bank smoothing only in countries where prudential supervision is effective. Our findings suggest that strengthening investors’ governance and improving coordination between prudential supervisors and accounting enforcers can limit the paradoxical effect of strict supervision, which reduces bank transparency if not adequately combined with other monitoring mechanisms
Ecosystem accounting for marine protected areas: A proposed framework
No full textMany policy initiatives and scientific studies promote the use of economic accounting as a statistical basis for
end-users and policy-makers' evaluation of the distributive and allocative effects of environmental and economic
policies. This can help in assessing the costs and the benefits of taxes and subsidies, public expenditures for
environment protections, payment schemes for ecosystem services, or the construction of “green” gross product
indicators. This paper develops an ecosystem-economic accounting framework to test some practical issues associated
with the building of disaggregated accounts for single institutional units. Specifically, we focus on
marine protected areas due to their direct relationship with ecosystems flows and for the latter's strong contribution
to the former's productive and consumptive activities. The accounting framework aligns with the SEEAEEA
and it allows a straightforward integration of the MPA accounting records into regional and national
Supply-and-Use tables aimed at performing input-output analysis. Moreover, it serves as a tool for the management
of protected areas
Someone else’s problem? The IFRS enforcement field in Europe
No full textThis study adopts an institutional lens to explore enforcement as a complex and nuanced phenomenon shaped by the dynamics of its social context. It examines an IFRS regulatory incident that fails to conclude with any decision or resolving action in the context of the European Union, and as such invites serious questioning of enforcement functions. From our analysis accounting enforcement emerges as an interacting issue-based field in which auditors and the national enforcement agency adhere narrowly to their tasks, ensuring formal but not substantive IFRS compliance. Field participants are seen to respond to institutional pressures strategically by avoiding public positions and delegating choices to other actors, substantially accepting earnings manipulation. Our study shows that the national enforcer increased its interactions with other regulatory actors (i.e. agencies concerned with the setting and interpretation of standards) in the case of controversial issues and their responses can heavily influence overall enforcement effectiveness. Furthermore, its findings contribute to debates on the need for a pan-European enforcement agency and shed light on the importance of IFRS interpretation for the enforceability of international accounting standards
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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