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"Disclosure in accounting."
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Corporate disclosures, 1553 to 2007 AD : the origin of financial and business reporting
With partial reference to corporate disclosures in India.
Book
Following the Money: The Enron Failure and the State of Corporate Disclosure
A Brookings Institution Press and American Enterprise Institute publicationA few years ago, Americans held out their systems of corporate governance and financial disclosure as models to be emulated by the rest of the world. But in late 2001 U.S. policymakers and corporate leaders found themselves facing the largest corporate accounting scandals in American history. The spectacular collapses of Enron and Worldcom-as well as the discovery of accounting irregularities at other large U.S. companies-seemed to call into question the efficacy of the entire system of corporate governance in the United States.In response, Congress quickly enacted a comprehensive package of reform measures in what has come to be known as the Sarbanes-Oxley Act. The New York Stock Exchange and the NASDAQ followed by making fundamental changes to their listing requirements. The private sector acted as well. Accounting firms-watching in horror as one of their largest, Arthur Andersen, collapsed after a criminal conviction for document shredding-tightened their auditing procedures. Stock analysts and ratings agencies, hit hard by a series of disclosures about their failings, changed their practices as well.Will these reforms be enough? Are some counterproductive? Are other shortcomings in the disclosure system still in need of correction?These are among the questions that George Benston, Michael Bromwich, Robert E. Litan, and Alfred Wagenhofer address in Following the Money. While the authors agree that the U.S. system of corporate disclosure and governance is in need of change, they are concerned that policymakers may be overreacting in some areas and taking actions in others that may prove to be ineffective or even counterproductive.Using the Enron case as a point of departure, the authors argue that the major problem lies not in the accounting and auditing standards themselves, but in the system of enforcing those standards.
eBook
Corporate Reporting and Company Law
The importance of disclosure as a regulatory device in company law is widely recognized. This 2006 book explores the disclosure requirements of companies in their reporting activities, and seeks to bring together the main features of the reporting system. The book considers the theoretical basis of the corporate reporting system and describes the regulatory framework for that system. It explores financial reporting and 'narrative' reporting, highlighting the fact that financial reporting requirements are more substantially developed than narrative reporting requirements - a consequence of the shareholder-centred vision that persists in company law. The roles of those responsible for providing corporate reports and those entitled to receive such information are examined. The book concludes with some broad suggestions for future development, with particular focus on the need to recognize the relevance of the communicative role of corporate reporting. The use of new technology also presents both challenges and opportunities for improving the regime.
eBook
Intellectual Capital Disclosure and Performance of Consumer Goods Firms
Business executives and managers are increasingly working in a highly competitive environment, where identifying the main drivers of performance is vital for the survival of firms. Intellectual capital is a crucial matter for firms worldwide, and the disclosure of intellectual capital has been identified as one of the major drivers of performance. This book examines the impact of intellectual capital disclosure on the performance of listed firms which adopt the balanced scorecard approach. The book is a product of research that offers innovative analysis and proves that managers of firms can use the disclosure of intellectual capital to boost performance. It reveals how using the balanced scorecard as a measurement tool for intellectual capital disclosure can drive the performance of firms. Students in postgraduate programmes and academics, as well as business executives and managers, will find this book to be an essential guide to maximizing intellectual capital disclosure to boost performance.
eBook
Accounting for infrastructure regulation : an introduction
Developing effective regulation for utilities has always depended on getting good accounting information on finances and operations. But reforms within the utility sector--such as promoting competition and encouraging private participation--make accurate regulatory accounting even more important. As sector and corporate structures become more complex, with utilities operating in both competitive and regulated markets or across several jurisdictions, cost allocations have become both more critical and complex. Clear requirements for regulatory accounts are an essential element in the transparent, consistent, and credible regulation of utilities and reporting of their performance. 'Accounting for Infrastructure Regulation: An Introduction' provides a practical guide for regulators, policy makers and utility managers to establishing regulatory accounts that can be the cornerstone for better, more complete, and more reliable accounting information. Drawing upon a number of case studies to illustrate key issues and choices, the book sets out the essential accounting features of regulatory accounts and provides practical guidance on controversial areas such as the allocation of costs, the valuation of assets, and depreciation. The book emphasizes the need for consistency with Generally Accepted Accounting Principles (GAAP), but highlights the specific role and requirements of regulatory accounts from the perspective of sector reform and best-practice regulation.
eBook
Usefulness of fair valuation of biological assets for cash flow prediction
This study develops an empirical analysis of the relevance of accounting information when biological assets are measured at fair value. We use an international sample of firms with biological assets. We find that biological assets influence unpredictability when they are measured at historical cost (HC). In this case, the ability of accounting data to predict future cash flows diminishes as the proportion of biological assets on total assets increases. The valuation at fair value (FV) switches this negative influence of biological assets to a positive one. We find that when they are measured at FV, the prediction accuracy of future cash flows improves as the ratio of biological assets to total assets increases. This evidence is robust to differentmeasures of prediction accuracy, as well as to the improvement of accounting standards, regardless of FV, over time. The evidence is weaker for bearer plants.
Este estudio realiza un análisis empírico sobre la relevancia de la información contable cuando los activos biológicos son valorados al valor razonable. Utilizamos una muestra internacional de empresas que utilizan activos biológicos, mediante la cual encontramos que los activos biológicos influencian negativamente la capacidad de predicción cuando están valorados a coste histórico. En este caso la habilidad de la información contable para predecir futuros flujos de efectivo disminuye a medida que aumenta la proporción de los activos biológicos en el total del activo. La aplicación del valor razonable convierte en positiva esta influencia negativa. Según nuestros resultados, cuando los activos biológicos están valorados a valor razonable mejora el acierto de predicción de los flujos futuros de efectivo a medida que aumenta la proporción de los activos biológicos sobre el total del activo. Estos resultados son robustos a diferentes indicadores del acierto de predicción, así como a la mejora de la calidad de la información contable a lo largo del tiempo, independientemente de la aplicación del valor razonable, como consecuencia de la implementación de nuevas normas contables. En cambio esta evidencia es débil para los cultivos o plantaciones permanentes.
Journal Article
The Impact Relationship Between Accounting Disclosure and Creative Accounting in the Environment of Iraqi Banks
Purpose: The research aims to demonstrate the impact of disclosure as an accounting standard to reduce any manipulation of bank profits, when using creative accounting, and improve the performance of bank departments, especially senior management, which is the main cause of profit manipulation, and to indicate the extent of the impact of accounting disclosure as an accounting standard to reduce creative practice. Theoretical framework: The study shows the effect of accounting disclosure as an accounting standard, to reduce creative practice, and disclosure as an accounting standard, one of the most important of these criteria used, which is the course through which details are presented and the decisions are submitted to the policy followed by the facility (Hassan, 2010: 25) Design/methodology/approach: For the purpose of completing the study, a sample of the banking sector was chosen in the Iraqi environment, where (13) banks were chosen, namely (Commercial Bank- Investment Bank- Ashur Bank- Investment Bank- Gulf Bank- United Bank- Middle East Bank- Al Mansour Bank- Mosul Bank- Bank Baghdad - Somer Bank - Al -Ahly Bank - Credit Bank - Al Ittihad Bank). Sound and correlation and influence laboratories have been used to extract results Findings: The results of the descriptive analysis showed that there is no weakness in the level of disclosure in Iraqi banks, during the study period, and the values of proportions indicate a relative rapprochement between banks in the terms of disclosure. Research, Practical & Social implications: The study shows the effect of applying disclosure as an accounting standard in reducing creative accounting practice. Originality/value: The results of the statistical analysis showed that the value of (ProB) for the independent variable apply the disclosure as an accounting standard less than (0.05), as it reached (0.017), which indicates that there is a reverse moral impact to apply disclosure as an accounting standard No. (1) on creative accounting.
Journal Article
STUDY OF THE EFFECTIVENESS OF THE QUALITY OF ACCOUNTING INFORMATION ON ACCOUNTING DISCLOSURE: AN ANALYTICAL STUDY OF A SAMPLE OF PRIVATE COMMERCIAL ENTERPRISES IN ALGERIA FOR THE YEAR 2023
Objective: The objective of this study is to assess the impact of information accuracy, transparency, and timely reporting on the level of accounting disclosure in companies. Theoretical Framework: This study is based on concepts and theoretical frameworks related to the quality of accounting information and its effect on disclosure levels. It focuses on the relationship between information accuracy, transparency, and reporting speed as key determinants of increased accounting disclosure. Method: The research adopts an analytical approach, focusing on examining the relationship between the quality of accounting information and disclosure levels. Data was collected by analyzing financial reports of companies, using statistical tools to measure the relationship between the variables. Results and Discussion: The findings revealed a strong positive relationship between the quality of accounting information and the level of disclosure. This indicates that companies providing accurate, transparent, and timely reports achieve higher levels of accounting disclosure. In the discussion section, these results are interpreted in light of the theoretical frameworks related to information quality and its impact on accounting transparency, the challenges companies face in implementing these practices are also discussed.. Research Implications: The practical implications of this research lie in the importance of enhancing accounting training, updating internal accounting systems, and adopting modern technologies to improve the speed and quality of accounting reports, these recommendations could significantly influence improving disclosure levels in companies. Originality/Value: This study contributes to the literature by highlighting the relationship between the quality of accounting information and the level of disclosure, recommending improvements in accounting practices using modern techniques to enhance reporting speed and accuracy.
Journal Article
Environmental Accounting Disclosure and Economic Value of Listed Agricultural Firms in Nigeria
This study investigated the nexus between environmental accounting disclosure and economic value of listed agricultural firms in Nigeria. This study employed ex-post facto research design, and data collected from the annual reports and sustainability disclosures of agricultural firms listed on the Nigerian Exchange Group (NGX) as at 31st December, 2023. The population was comprised of 5 agricultural firms listed on the NGX and the study adopted a census sampling technique to include the entire population. The study covered a 10-year period, from 2014 to 2023, consisted of the transition of the Nigerian Stock Exchange (NSE) to the Nigerian Exchange Group (NGX). Descriptive statistics were used for data analysis. Through the regression analysis conducted, this study found that environmental accounting disclosure had a positive and significant effect on the economic value of these firms. This suggests that environmental transparency and accountability enhance the financial performance of agricultural firms in Nigeria. This study concluded that environmental accounting disclosure is an important factor in improving the economic value of listed agricultural firms in Nigeria. It is therefore important for agricultural firms in Nigeria to enhance their environmental reporting practices to provide more comprehensive and transparent information about their environmental impact.
Journal Article
