12.2% 169000 185M TOP 1% 154 6200

As a result of the changes, corporate reports that only include historical financial information have become insufficient. They also want to be informed about the company's environmental sensitivity, future performance, risks and opportunities.

Figure 1. Evaluation of corporate reporting.

Author details

Its philosophy includes the presentation of both financial and non-financial information by providing systematic information about value creation, namely how organizations made resource allocations in the past and how they will create value in the future according to their business models. Therefore, accounting as an information system should provide summarized comprehensive information derived from the intersection of financial and non-financial performance according to paradigm shifts in business reporting.

The integrated reporting framework announced in 2013 demonstrates the new methodology of corporate reporting to meet stakeholder needs. But does sustainability need capitalism or an integrated report a commentary on 'The International Integrated Reporting Council: A story of failure' by Flower.

TOP 1%

Integrated Reporting: A Template for Energy Companies

Introduction

Energy is one of the most important factors in determining the competitiveness of countries, and the energy sector is an important tool in economic growth. The interest of the academician and the business world in integrated reporting in Turkey is increasing day by day.

Development of corporate reporting

Sustainability reporting
Sustainability reporting in Turkey

Due to the contradiction between "profit" and "social responsibility" in the business world, the concept of sustainability has gained importance [7]. 1997 Global Reporting Initiative (GRI) It is a widely accepted initiative on comprehensive reporting in the world.

Integrated reporting

Definition
Integrated reporting in the world
Integrated reporting in Turkey
Integrated reporting framework

Significance: An integrated report should provide information on issues that significantly affect the organization's ability to create value in the short, medium and long term. Corporate governance: How the foundation's corporate governance structure supports the ability to create value in the short, medium and long term.

Examination of integrated reporting application for energy sector

With its developing economy, Turkey is one of the major energy consumers in the world. In this part of the study, it is appropriate to refer to the natural capital elements in the IR framework of the energy companies.

Conclusion and recommendations

Ankara: Türkiye Petrolleri Available at: http://www.mfa.gov.tr/turkeys-energy-strategy.en.mfa. Available at: http://www.bp.com/content/dam/bp/pdf/investors/bp-annual-report-and-form-20f-2015.pdf.

Greening Accounting: An Inevitable Link to Help Firms Connect with Sustainability

Sustainability and underlying philosophies: implications for business firms
Sustainability and critical accounting theories

Contemporary developments within the critical accounting theories to support sustainability
Methodological improvements: environmental management accounting (EMA) framework and other techniques
Developments in formal accounting standards to support environmental challenges With the advent of International Financial Reporting Standards (IFRS) as the global generally
What are we missing?

Environment: a missing element of accounting paradigm
Concluding remarks

This will help stakeholders remove biases and assess how firms are contributing to the overall well-being of society and nature. Moreover, in the absence of the legal framework necessary to compel firms to uphold their end of the ethical bargain, firms' motivation to behave ethically and (re)orient their behavior towards superior environmental performance, which the market and society at large would expect and reward. , requires a mechanism that can be easily supported to support the internal and external information and decision-making needs of firms [17, 25].

Figure 1 is a schematic representation to reflect that an accounting framework (say X F ) is a mechanism to translate a business transactions (transaction X in time t) in accordance to the norms and principles of the framework (financial account

Greening Accounting II: Exploring Feasibility of Environmental Accounting Framework

Environmental accounting in hospitality business: a case example

The project site
Analysis of key findings
EA: accounting for environmental care of CHS

Systemic integration of externalities within EA framework

Solid waste and its disposal
Waste water
Emission and its accounting
Approach towards improving environmental care

Externalities, sustainability and accounting generalization

Valuation of externalities: generalization and cognitive limitations
Generalized construct of environmental accounting and sustainability

Schematics for book-keeping environmental aspects generated by business transactions

There would also be no liability for the wastewater generated by the laundry services it outsourced to commercial laundries. These books correspond to the physical nature of the aspects (waste and emissions) and reflect the environmental goods created by the company, similar to finished products. The appropriate credit would go to the appropriate environmental account (liabilities) to reflect the externalized responsibility.

Figure 1. Operational layout of CHS (Sourced from Ref. [1]).

Adaptation of International Accounting Standards

Case of Portugal

Accounting harmonization: Global evolution
Accounting standardization in Portugal
Results: Actual levels of accounting standardization in Portugal
Conclusions

The second stage of accounting standardization in Portugal takes place with the publication of the first accounting plan in 1977. On the other hand, the accounting standardization regime is an integral part of the SAS. Levels of accounting standardization before the introduction of the SAS, now and in the near future.

Table 1. Levels of accounting standardization before the introduction of the SAS currently and in the near future.

M2M-Fair Value Accounting

Definition of fair value

Exit price
Market participants

Fair value is based on the exit price and is accordingly defined as "the price that would be received for the sale of an asset or paid for the transfer of a liability in a regular transaction between market participants on the measurement date" [IFRS 13:9]. The process of determining the price received from the sale of an asset or paid to transfer a liability at the measurement date is a hypothetical forecasting process. Market participants are buyers and sellers in the main (or most favorable) market for an asset or liability.

Fair value measurement

Measurement

If there is no main market, prices in the most favorable market are used as fair value. In initial recognition, the general approach is to use the entry price to measure the fair value of all assets and liabilities. In many cases, it is assumed that the entry price often reflects fair value and is thus equal to the exit price at initial recognition.

Figure 1. Schematic representation of fair value measurement.

Fair value measurements for assets and liabilities (IFRSs)

Financial assets (IFRS 9)
Financial liabilities (IFRS 9)
Investments in associates and joint ventures (IAS 28)
Property, plant, and equipment (IAS 16)
Intangible assets (IAS 38)
Investment property (IAS 40)
Accounting for government grants and disclosure of government assistance (IAS 20) A government grant may be in the form of a transfer of non-monetary assets, such as land or
Business combinations (IFRS 3)
Agriculture (IAS 41)

Fair Value (FVTPL) (FVTOCI is an option for non-trading equity instruments). Capital instruments are shown at fair value upon initial recognition (transaction costs are not included). There is a presumption that the fair value (and thus the cost) of an intangible asset acquired in a business combination can be reliably measured [IAS 38:35].

Table 1. Fair value measurements in IFRSs.

Measurement principles in the Exposure Draft Conceptual Framework for Financial Reporting

Historical cost
Current value

In the absence of an active market, the acquirer will measure the fair value of the non-controlling interest using other valuation techniques [IFRS 3:B44]. The description of fair value in PP is consistent with its description in IFRS 13 Fair Value Measurement [BC 6.25]. In the absence of a fair value, valuation techniques (sometimes including the use of cash flow-based measures) may be needed to estimate that fair value, but they are not only costly and complex, but also subjective and both inputs and outputs difficult to verify. the validity of the process itself.

Figure 2. Measurement in Exposure Draft Conceptual Framework.

Conclusion

The characteristics of these assets measured at fair value are that a significant part of them have active markets and provide cash flows for the economic entity through the sale of the asset instead of consumption. Available from: http://www.ifrs.org/Current-Projects/IASB-Projects/Fair-Value Measurement/IFRS-13-Fair-ValueMeasurement/Documents/FairValue MeasurementFeedbackstatement_May2011.pdf January 16, 20 [Accessed: On available from: http://sfmagazine.com/wp-content/uploads/sfarchive/2008/07/Fair-Value-Accountingfrom-Theory-to-Practice.pdf [Accessed: 16 December 2016].

Reporting for Carbon Trading and International Accounting Standards

Kyoto Protocol
Paris climate conference
Pricing
Accounting and reporting of carbon trading

Illustrative example 1
Illustrative example 2

The Kyoto Protocol is an annex to the United Nations Framework Convention on Climate Change (UNFCCC) and has been signed by 188 countries. During the implementation phase of the project, the company estimated the reduction of greenhouse gas emissions (in tons. At the end of the second period, the emission rights are impaired due to the price reduction to USD 10 per ton.

Table 1. Kyoto Protocol flexible mechanisms.

Accounting Choices in Corporate Financial Reporting: A Literature Review of Positive Accounting Theory

The paradigm change in accounting research: the origins of positive accounting theory
The development of positive accounting theory
Literature relating to the PAT
Criticisms from different perspectives

Watts and Zimmerman reviewed the theory and methodology of the economics-based accounting literature in their seminal book dated 1986 [6]. Watts and Zimmerman [16] This seminal paper outlined many of the problems posed by regulatory capture. Christenson [36] The author provides a critical assessment of the label and the theory's methodology.

Table 2. Major works of Watts and Zimmerman.

Acknowledgements

Information asymmetry, corporate disclosure and capital markets: A review of the empirical disclosure literature. 22] Christie AA, Summary of test statistics: An assessment of the evidence on the contraction and magnitude hypotheses. Accounting earnings and cash flows as measures of firm performance: The role of accounting accruals.

Value Relevance of Accounting Data in an Emerging Market: Did Accounting Reforms Make a Difference?

Motivation: Turkish financial reporting setting

Second, Turkey is one of the few countries in the world where only partial inflation accounting along with historical costs has been used despite the high inflation rates experienced especially in the earlier part of our sample period. Starting in 1986, the costs of fixed assets reported in balance sheets were adjusted annually using a single index set by the Ministry of Finance. Third, a mandatory uniform chart of accounts adopted by the Ministry of Finance in 1994 has fully harmonized the different account titles, figures and formats used in F/S to improve the comparability of F/S prepared by the Turkish firms. Fourth, the regulatory body for traded companies, the Capital Markets Board (CMB), in response to globalization and the accession of the European Union (EU), allowed companies to use IFRS as published by the International Accounting Standards Board (IASB) or to use the IFRS-based standards issued by the CMB in 2003 (issued by Regulation Series XI, No. 25).2 Companies voluntarily adopted these standards in 2003 and 2004; and in 2005 the CMB required all listed companies to use IFRS as approved by the EU.

Prior research

Similarly, most of the research into the value relevance of IFRS-based accounting figures has been conducted in developed markets. In [38, 39], the incremental value relevance of book value increases during the voluntary adoption of IFRS in European countries. In [44], the authors find that consolidated accounting figures in Spain are more value relevant than the parent company's information alone, where book value has higher value relevance than earnings.

The hypotheses

In [3, 4] the authors find that NI/share and BV/share are both significant and explain 57.5% of the variation in share prices, but there is a sharp decrease in the value relevance of both variables during the 2000 –2001 financial crisis which increased the incidence of losses. In summary, only [2–4] used both book values and earnings in their tests of value relevance in the BIST. H7: The consolidation of the accounts of the subsidiaries with those of the parent firm increases the value-relevance of parents' accounting numbers.

Sample, data, and methods of analysis

In all specifications and tables below, reporting the results of value relevance regressions, we assume a random walk process for residual income and therefore use current annual income as a proxy for the PV of future residual incomes, as assumed in many empirical modifications of the model. In terms of design, we first compare the value relevance of accounting figures in the relevant sub-samples we wish to compare (for example, in companies that have and have not adopted IFRS), measuring the statistical significance of the differences using adjusted R2 comparisons with using Cramer's procedure at [51]. We also estimate pooled regressions with multiplicative interaction terms to capture the significance of the incremental effects of reforms on the coefficients of BV and NI.

Results

Mean goodness-of-fit results in pooled regressions across all years indicate strong informativeness for both NI and BV (R2 = 0.89). In panel B, we again observe that accounting for inflation significantly reduces the relevance of the NI value, while significantly increasing the relevance of the BV. The relevance of the incremental value of financial companies. Model: Ln (MVt) =β0t+β1tLn(NIt) +β2tLn (BVt)+β3tFINdummy*Ln (NI) +β4tFINdummy*Ln (BV).

Sensitivity tests

Conclusion and discussion

We note that the value relevance of accounting figures in general increased slightly during the reform period. As future research, we want to investigate the effect of other CG attributes (family versus non-family ownership, cross-equity ownership, variable interest rate, foreign or institutional holdings) on the value relevance of accounting figures. The value relevance of financial accounting information in an economy in transition: the case of the Czech Republic.