2014 Interpretation and Application of International Financial Reporting Standards

Mackenzie, Bruce; Njikizana, Tapiwa; Coetsee, Daniël; Chamboko, Raymond; Colyvas, Blaise; Hanekom, Brandon; Selbst, Edwin

doi:10.1002/9781118870372

Cited by 31 publications

(42 citation statements)

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“…In respect of mandatory and voluntary accounting disclosures, the main disclosure items for banks as stated in the IAS1 are: (i) Information presented to the board of directors (disclosing changes in operations, future plans, and capital expenditure of the corporation); (ii) rules relating to the auditor's report (disclosing the extent of applying accounting methods based of IAS of local accounting standards, and the auditor's opinion); (iii) rules relating to presentation of financial statements (disclosing commitments, rights, and obligations of assets and liabilities contracts and their related cash flows); (iv) information to be presented in the profit or loss account or in notes (disclosing classification of expenses either by nature or by function); (v) changes in equity (disclosing results of continuing operations, other comprehensive income, treasury shares, options and reserves; (Abu-Nasar & Hmadat, 2016, p. 23;Mackenzie et al, 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

“…9, No. 11;2017 accounting estimates (disclosing effects on profitability of corporations); and (iii) retrospective or prospective effects of accounting errors (disclosing effects on changing profits or losses of corporations) (Abu-Nasar & Hmadat, 2016, p. 135;Mackenzie et al, 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

“…In the context of mandatory disclosure, the corporation is obliged to disclose, where there is no option to accept or reject it, as the institutions are committed to the governance and professional requirements imposed by laws (Chen & Zhang, 2012, p. 604). Mainly, accounting disclosures must be in accordance with International Accounting and International Financial Reporting Standards, thus, examples of disclosure under the IAS included : (i) presentation of financial statements (IAS1); accounting policies, changes in accounting estimates, and accounting errors (IAS8); property, plant, and equipment (IAS16); the revenue (IAS18); impairment of assets (36); and disclosure of financial instruments (IFRS7) (Nadia & Rosa, 2014, p. 95;Abu-Nasar & Hmadat, 2016, p. 724;Tanjitprom, 2013, p. 21;Mackenzie et al, 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

“…With regard to mandatory and voluntary accounting disclosures, the main disclosure items for banks as stated in the IAS16 are: (i) categories of property, plant and equipment (disclosing each group of the category, their capitalized values, and depreciation methods for depreciable assets); (ii) restriction of noncurrent assets (disclosing existence of assets restrictions and amounts of compensations for disposal or impairment of these assets); valuation of noncurrent assets (disclosing dates of valuation by independent valuators, the basis of revalued assets at either the cost model or the revaluation model, and amounts of revaluation surplus for the fair value model in the equity section) (Abu-Nasar & Hmadat, 2016, p. 246;Mackenzie et al, 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Recent development of characteristics of accounting information to be disclosed have been emerged from the IASB/FASB agreement in setting worldwide acceptance of the characteristics of accounting information, in term of: relevance (information is useful to the decision maker); reliability (information can be considered honest, complete and without calculation errors); verifiability (information can be reviewed and verified while ensuring the same results); comparability (information is comparable in different periods of time; understandability (there is reasonable knowledge in the nature of corporation business and its activities for reporting purposes); materiality (where negligence or omitting any item of financial statements can affect users of decision making processes); economic information (the application of cost-benefit concepts); and timely accounting information (Mackenzie et al, 2013;Iatridis & Valahi, 2010, p. 11;Vojáčková, 2015, p. 179;Abu-Nasar & Hmadat, 2016, p. 7;Mackenzie et al, 2013;Rapp, 2010, p. 12;Gherai & Balaciv, 2011, p. 36).…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

The Impact of Applying the Accounting Disclosure in Accordance with the IFRS on Increasing Profitability in Listed Banks: An Analytical Study

Al-Halabi¹

2017

IJEF

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The paper provided a content analysis on the impact of applying mandatory and voluntary disclosures (MD&VD) in accordance with selected IAS and IFRS (independent variables) on increasing profitability measured by the net profit margin (the dependent variable) in banks listed at Damascus Stock Exchange (DSE). Data from a sample of 11 banks and their financial statements, including all notes, during period from 2010 till 2014 were gathered and processed using the statistical package of social sciences. The main results showed different significant impacts of applying mandatory and voluntary accounting disclosures under selected IFRS on increasing profitability in Syrian banks. However, when testing the separate application of each selected IAS and IFRS, results showed no such impacts, except for IAS18, on increasing profitability in Syrian banks. The main conclusion indicated that there is a need to develop IFRS internationally to lowering flexibility in selected IFRS aiming at increasing mandatory accounting disclosures, and some examples were provided for this purpose. The research also concluded that the Syrian SEC should harmonize with other governmental agencies to commit full application of all IAS and IFRS and, on the other hand, Syrian banks should be encouraged to disclose numerical and descriptive accounting disclosures in line with the IAS and IFRS within the Syrian context.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

The Impact of Applying the Accounting Disclosure in Accordance with the IFRS on Increasing Profitability in Listed Banks: An Analytical Study

Al-Halabi¹

2017

IJEF

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Public interest entities in the context of accounting and auditing legislation in the wake of the globalization process

Kňažková

Ondrušová

2020

SHS Web Conf.

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Public interest entities are understood to be accounting units that are governed by the accounting legislation as well as auditing legislation. Both regulations, however, define differently the public interest entities. Part of the public interest entities are treated equally in both legislations and are considered to be public interest entities and some of them do not. this is different depending on the specific legal regulation. While accounting and auditing are separate areas of research, there is a link between them and auditing is significantly dependent on accounting because its role is to examine and analyze the accounting of a particular entity. Due to their interconnection as well as to the area of investigation itself, it would be appropriate for both legislation to treat the same group of entities as public interest entities as the individual regulations have specific requirements for this group of entities, which are public interest entities. Our aim is to clarify and present the issues in question in terms of accounting and auditing with emphasis to express its own conclusions. In order to fulfill our stated goal, we apply a method of comparison, analysis, deduction, through which we present the definitions of public interest entities in terms of accounting and auditing legislation, compare and analyze them. Finally, we formulate our own view of which entities should be considered public interest entities.

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Knowledge as a measurable object in business contexts: a stock-and-flow approach

Bolisani

Oltramari

2012

Knowledge Management Research & Practice

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This paper addresses the issue of knowledge accounting in business contexts. Despite the efforts of researchers and practitioners, the approaches that have been proposed are different, have several limitations, and their soundness and usefulness have been questioned. Moving from a critical review of the stateof-the art of the methods of knowledge accounting already proposed in the knowledge management literature, the paper illustrates an approach to account for knowledge based on a recognition and measurement of knowledge objects flowing from the stocks of different economic players. This approach can allow a measurement of knowledge generated, possessed, and exchanged by companies, based on charts and indicators similar to those employed in traditional accounting. This can improve the interpretation and comparability of economic measures of knowledge in different business cases and over time.

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2014 Interpretation and Application of International Financial Reporting Standards

Cited by 31 publications

References 0 publications

The Impact of Applying the Accounting Disclosure in Accordance with the IFRS on Increasing Profitability in Listed Banks: An Analytical Study

The Impact of Applying the Accounting Disclosure in Accordance with the IFRS on Increasing Profitability in Listed Banks: An Analytical Study

Public interest entities in the context of accounting and auditing legislation in the wake of the globalization process

Knowledge as a measurable object in business contexts: a stock-and-flow approach

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