Top PDF Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

The empirical findings of the study reveal that the earnings forecasts provided by investment bankers in the prospectuses of initial public offerings are positively associated with the fundamental signals: earnings prior to the public offering and incomplete contracts at the moment of the public offering. Furthermore, the offer prices of IPOs are positively associated with the earnings forecasts, while the incomplete contracts and the book values of equity do not provide incremental explanatory power in explaining offer prices. The study also shows a strong positive association between stock returns subsequent to initial public offerings and incomplete contracts, which is present even after controlling for other possible omitted variables. This significant association between stock returns subsequent to the public offering and incomplete contracts is consistent with inefficient utilization of the incomplete contracts information by both the investment bankers, who set the offer prices of the construction firms, and the stock market. Alternatively, incomplete contracts may reflect extra risk factors for which investors expect greater underpricing of the IPO. The cyclical nature of the construction industry represents one such risk factor.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

This is an excellent and comprehensive handbook, now on its second edition, on the history, structure, and operation of the IASC and covering all of the topical areas encompassed by the extant International Accounting Standards (IASs) and Interpretations issued by the Standing Interpretations Committee. The author, David Cairns, is the foremost authority on the subject, and he is to be commended for compiling a work that is rich in description, analysis, and criticism. It will be of great value to all who are interested in how the IASC functions and in furthering the reach of IASs.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

The relevance of the IASC standards to developing countries has also been questioned on the grounds that these countries have ``no capital market(s)'' (Briston, 1978) or have badly organized capital and money markets. To appreciate the issue discussed here, it is essential to first delineate the salient features, which characterized the development of capital markets in the UK and the US. This is because the IASC standards (arguably) are largely derived from the UK and the US national standards (Samuels and Oliga, 1982; Hove, 1990). The UK and the US standards originated in a situation in which they played an important role in the development of capital markets, under which massive funds were accumulated from widely dispersed sources and put at the disposal of industry (Mahon, 1965). In these two countries, financial reports and capital market development are so closely related that they have become interdependent (Mahon, 1965; Perera, 1989). Until recently, there have been remarkable differences between capital markets' developments in the UK and the US on the one hand and those in industrialized capitalist countries of Continental Europe (notably France and Germany) on the other. This was due principally to different traditions and attitudes on the extent of disclosure and sources of finance.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

This special edition of the semiannual journal, Pacific Accounting Review, contains 23 Millennium Essays to celebrate New Zealand's ``unique position as first into the future,'' for an outpost on New Zealand territory was ``the first inhabited place in the world to see the sunrise of the new millennium'' (p. i). The short essays, ranging between 3 and 15 pages each, were written by ``leading academics and practitioners from around the globe, [and] while each essay is unique, there is one common theme, and that theme is change'' (p. i). Sixteen of the essays were invited by the editor. Three research articles unrelated to the themes of the essays occupy 60 pages of the issue.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Cairns discusses his survey methods and the survey findings at considerable length. In addition, he provides useful sketches of the accounting requirements of 80 countries in all regions of the world, and, in one of his chapters, he elaborates upon the technical accounting issues in IAS financial statements. The book also contains much information about the background and work of the IASC.

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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

This position paper issued last November by CGA-Canada argues for the adoption of International Accounting Standards in Canada. ``Many interested parties are today proposing that Canadian standards be harmonized with FASB standards, especially because of Canada's close tied with the United States,'' but, the article argues, ``there are many compelling reasons why it would not be prudent for Canada to adopt FASB standards'' (pp. 5±6). The FASB's standards, it asserts, are ``the result of a `closed process' designed to accommodate U.S. interests,'' and ``they have been established primarily for the benefit of investors to the exclusion of other groups in society interested in corporate performance'' (p. 6). Other objections to the influence in Canada of the FASB's standards are that they are ``rule-oriented and prescriptive'' and that they respond to the ``very litigious environment'' in the U.S. The article seems to be favorably disposed toward the ``fairness exception'' in IAS 1.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

This is an excellent and comprehensive handbook, now on its second edition, on the history, structure, and operation of the IASC and covering all of the topical areas encompassed by the extant International Accounting Standards (IASs) and Interpretations issued by the Standing Interpretations Committee. The author, David Cairns, is the foremost authority on the subject, and he is to be commended for compiling a work that is rich in description, analysis, and criticism. It will be of great value to all who are interested in how the IASC functions and in furthering the reach of IASs.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

This special edition of the semiannual journal, Pacific Accounting Review, contains 23 Millennium Essays to celebrate New Zealand's ``unique position as first into the future,'' for an outpost on New Zealand territory was ``the first inhabited place in the world to see the sunrise of the new millennium'' (p. i). The short essays, ranging between 3 and 15 pages each, were written by ``leading academics and practitioners from around the globe, [and] while each essay is unique, there is one common theme, and that theme is change'' (p. i). Sixteen of the essays were invited by the editor. Three research articles unrelated to the themes of the essays occupy 60 pages of the issue.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Abstract: Improved accounting for intangible assets is one of the major challenges to future financial reporting. Conventionally, resources spent on intangibles such as knowledge, design, licenses, and trademarks have been expensed and hence treated merely as costs and not as investments with book values. Such an arbitrary way of dealing with intangible resources is believed to have increasingly reduced the value-relevance of financial reporting as the importance of intangibles in the economy has increased over time. Intangible resources that meet certain criteria for asset recognition should be capitalized as assets and their costs amortized over the best estimate of their useful lives. In this article, we argue that the value-relevance of financial statements would be further improved if previously expensed costs are partly reversed and capitalized if, at a later period, the intangible item in question meets the asset recognition criteria. The increased income variation due to reversed expenses would be a signal of earnings potential and risk.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Apart from the second essay by James Foreman-Peck on ``Accounting in the industrialization of Western Europe,'' the other 13 essays are devoted each to one European country (Austria, Belgium, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland, United Kingdom). Several elements distinguish themselves in individual country histories, all of which play a different role in each national accounting system, as well as factors that might explain the variety of accounting systems throughout Europe, for example: the regulatory system, the tax system, the sources of finance, the accounting and auditing profession, and so on. Moving from a frequent set of common sources of regulations, their implementation has been quite different in every country, according also to the role played by the national needs and influences: this was also the case of the adoption of the Fourth and Seventh Directives.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

. Analysts express a desire for US GAAP/IAS reconciliations not so much because they actually use the reconciled amounts but because they do not trust Swedish accounting as much as US GAAP/IAS. The reconciliation is viewed as an ``insurance policy'' against the potential for poor quality in the Swedish accounting system. Still, analysts' reports show that adjustments are made based on the reconciliation information.

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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

In our experience, the need for information on accounting theory and practice in other countries is increasing. Some years ago, as the European Single Market took shape, there were a number of books published that provided guidance, and the first edition of European Accounting Guide was one such book. However, European Accounting Guide stands out from the crowd in two key respects: in a single volume it provides comprehensive coverage of key European countries, and it has been kept up to date. It has few, if any, peers. Consequently, it is the book that sits on our desks (rather than tucked away in the library), and it is the book to which we refer inquirers who are in search of a high-level view of accounting in another European country. It will not provide in-depth answers as a substitute for advice from a local practitioner, but it will help formulate what questions need to be asked.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

There are too few vehicles for ``think'' papers on accounting and its role in society, and this special edition of Pacific Accounting Review helps fill the void. Even though the new millennium will not arrive until January 1, 2001, the pretext amply justifies this collection of interesting and provocative essays. The journal's web site is at: www-par.massey.ac.nz.

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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue2.2000:

There are too few vehicles for ``think'' papers on accounting and its role in society, and this special edition of Pacific Accounting Review helps fill the void. Even though the new millennium will not arrive until January 1, 2001, the pretext amply justifies this collection of interesting and provocative essays. The journal's web site is at: www-par.massey.ac.nz.

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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue3.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue3.2000:

Although I feel that the analysis chapters focus too heavily on fundamental analysis, as a result of reviewing the text I am more convinced than ever that every student of accounting or finance should learn the material taught in Parts I and III of this text. Although the authors do concentrate on the financial statements, they also fully integrate the cultural aspects of businesses into the study of financial reporting. This promotes a better understanding of business practices, in general, and a comprehensive understanding of why just restating financial statements would not give a full picture of a company that operates in a foreign country. In other words, students are taught in Part III to look beyond the numbers in order to understand the company, the culture, and the country.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue3.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue3.2000:

Fourth, while the book provides useful lists of pros and cons relating to different tax issues, it generally does not clarify the criteria that readers could use for effective decision making. For example, rather than merely listing the pros and cons of using foreign branches versus foreign subsidiaries ( pp. 74±75), it would be useful if the book had helped clarify the conditions under which one organizational form is preferred over the other.

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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

Dennis Chambers, University of Illinois, Urbana-Champaign Chee W. Chow, San Diego State University, San Diego Michael B. Clement, University of Texas ± Austin, Austin Bryan Cloyd, University of Illinois, Urbana-Champaign Eugene Comisky, Georgia Institute Tech, Atlanta Teresa Conover, University of North Texas, Denton Terrence E. Cooke, University of Exeter, England Robin Cooper, Emory University, Atlanta

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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

and plan participants. Most of the regulatory interest has been directed towards disclosure issues. The effect of culture on disclosure practices has been investigated often with the intent of determining the potential for harmonization of accounting standards. Zarzeski (1996) found that both the secretiveness of a culture and market forces could affect disclosure behavior. In a study focusing on employee benefits, Needles et al. (1991) hypothesized that regulatory differences across countries would appear in the disclosures for pensions. However, results of the study indicated that the overall degree of regulation for a country was not reflected in the pension disclosure practices. The countries studied appeared to exhibit fairly similar disclo- sures. A more recent examination by Street and Gray (1999) notes that relatively few differences exist in pension disclosures pursuant to IAS 19 when compared to those prepared under U.S. GAAP. This finding leads us to question the applicability of pension disclosures as a means to examine any underlying cultural differences.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

The fourth chapter deals with public sector resources, their types and classification. In the public sector, besides typical resources, there are substantial non-financial resources, such as infrastructure, cultural heritage resources, natural resources, military resources, intangibles, etc. The author carries out an analysis that allows the reader to draw a distinction between the different types of assets from the perspective of public sector accounting. As a result, the definition of an asset is generalized to define it as ``an economic resource that enhances prospects for accomplishment of the mission of a given economic entity, being under control of this entity as a result of past events, which allowed to take over its control or to produce it by processing other resources . . . .'' This is one of the many definitions proposed by the author which reveal the innovativeness and creative value of his thought.
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Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

Directory UMM :Data Elmu:jurnal:T:The International Journal Of Accounting:Vol35.Issue4.2000:

First, the authors made a selection of six Middle East Islamic countries (Egypt, Saudi Arabia, Turkey, Bahrain, the United Arab Emirates, and Qatar) with a total population of 151 million, and they decided to exclude, apart from Israel, seven Islamic countries with a total population of 110.6 million (Jordan, Lebanon, Syria, Iran, Iraq, Oman, and Kuwait). These latter Islamic countries adopt mainly a different economic order than the countries chosen. Iraq and Syria are still implementing a socialist regime, Iran is implementing an Islamic economic order, and Jordan is turning to a more liberal economy. The authors did not explain the reasons for their exclusion.
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