The Analysis of the Appliance of Fair Value Concept in Croatian Companies from Real Sector

Perčević, Hrvoje; Hladika, Mirjana; Valenta, Ivana

doi:10.1007/978-3-030-53536-0_2

Cited by 3 publications

(6 citation statements)

References 12 publications

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“…These sectors were chosen because the results of previous research conducted by Gulin, Hladika, and Bernat (2019) and Perčević, Hladika, and Valenta (2020) We analyze only those companies that have submitted their financial statements for all five years -2014, 2015, 2016, 2017, and 2018. We selected the first 500 large and medium-sized companies from the service (utilities), production, and tourism sectors ranked by asset value.…”

Section: Research Questions and Methodologymentioning

confidence: 99%

Revaluation as a Model of Subsequent Measurement of Property, Plant, and Equipment – Case of Croatia

Hladika

Gulin

Bernat

2021

CES

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Accounting standards allow the application of two models for subsequent measurement of property, plant, and equipment, and those are the cost model and the revaluation model. The application of a certain model depends on the manager’s choice of accounting policy. The main goal of this paper is to investigate the application of the revaluation model for subsequent measurement of property, plant, and equipment in Croatian companies. Further goals are to examine how the fair value for revalued assets is determined, and what the level is of disclosed information about the determined fair value and the revaluation. The theoretical part of the paper analyzes different models for measurement of property, plant, and equipment, the issue of determining fair value, and disclosure requirements according to national and international accounting standards. The empirical part of the paper is conducted on 500 large and medium-sized Croatian companies from the service (utilities), production, and tourism sectors. Particular attention is placed on the notes to the financial statements of these companies. The research covers the period from 2014 to 2018. Collected data are analyzed by using descriptive statistics methods, point-biserial correlation, and Pearson correlation coefficient.

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Section: Research Questions and Methodologymentioning

confidence: 99%

Revaluation as a Model of Subsequent Measurement of Property, Plant, and Equipment – Case of Croatia

Hladika

Gulin

Bernat

2021

CES

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“…On the other hand, research conducted by Pavić et al (2016) on a sample of 132 non-financial companies listed in the RC, at the Zagreb Stock Exchange, find in 2013 that more than half of these companies that have investment property apply the cost model. Another research conducted in the RC (Perčević et al, 2020) reveals that 8% of the observed medium-sized and 15% of the observed large real sector companies apply the fair value model. Since research shows that companies in the RS more often use the fair value model than the cost model for subsequent measurement of investment property, and that in the companies in the RC it is the opposite, the second research hypothesis is as follows:…”

Section: Literature Reviewmentioning

confidence: 99%

“…The research reveals that only one company applies the revaluation model for all items of the observed assets, while 5 companies do not disclose the basis of subsequent measurement. Based on a survey conducted on a sample of 100 randomly selected medium-sized and large companies the real sector in 2016, Perčević et al (2020) find that companies in the RC apply the cost model to a greater extent than the model based on fair values for subsequent measurement of assets and liabilities. In particular, they find that 16% of the observed medium-sized companies and 22% of large companies use the fair value model for subsequent land measurement, and 18% of medium-sized and 12% of large enterprises use the fair value model for subsequent measurement of buildings, plants and equipment.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The historical cost concept and the fair value concept are the most common concepts for measuring economic categories in accounting theory and practice (Perčević et al, 2020). The concept of historical cost, as the oldest concept, implies that assets are measured in the amount of reimbursement provided for their acquisition, and liabilities in the amounts received in exchange for the obligation (Stojanović, 2016).…”

Section: Introductionmentioning

confidence: 99%

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Subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia

Milašinović¹,

Obradović²,

Karapavlović³

2022

Anali Ekon fak Subotica

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The aim of this paper is to consider the practice of subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia, i.e., to determine whether the preparers of financial statements make greater use of the historical cost model or the model based on fair value. The sample consists of 220 hotel companies in the Republic of Serbia and the Republic of Croatia, observing their financial reports for 2019. The research reveals that most hotel companies in both countries subsequently measure owner-occupied property and plant and equipment according to the historical cost model. Hotel companies in Serbia most often apply the fair value model for subsequent measurement of investment property, while hotel companies in Croatia most often apply the historical cost model in the same context. We also find that a large number of hotel companies in the observed countries do not disclose the basis for subsequent measurement of property (including investment), plant and equipment in the notes to their financial statements, which means that the quality of financial reporting on those assets in the hotel companies should be improved.

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“…13 Tuğay, O. (2013) 19 Tarihi maliyet ve gerçeğe uygun değer seçimi İçerik analizi Analize tâbi işletmelerde çoğunlukla tarihi maliyet yöntemi tercih edilmektedir.…”

Section: Literatür öZetiunclassified

TFRS/ Tms, Bobi̇ Frs, Kümi̇ FRS Ve Fai̇zsi̇z Fi̇nans Muhasebe Standartlari Kapsaminda Gerçeğe Uygun Değer Kavrami

Arzova

Şahin

2021

Marmara Üniversitesi İktisadi Ve İdari Bilimler Dergisi

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Finansal tablolar işletme paydaşlarına bir işletmenin finansal durumu ve faaliyet sonuçlarına ilişkin bilgiler sunar. Finansal tabloların, bu tablolardan yararlananlara doğru, gerçeğe uygun ve faydalı bilgilerin sunması beklenir. Etkin bir finansal raporlama süreci için Uluslararası Finansal Raporlama Standartları yayımlanmaktadır. Bu standartlarda gerçeğe uygun değer yaklaşımı ile uygulamada tarihi değer yaklaşımından uzaklaşılarak varlık ve yükümlülüklerin finansal raporlama tarihindeki değerinin raporlanması amaçlanmıştır. Gerçeğe uygun değer, Türkiye' de farklı ölçek ve türdeki işletmelerin finansal raporlama süreçlerinde kullanılan BOBI FRS, KÜMİ FRS ve Faizsiz Finans Muhasebe Standartları'nda da ölçüm yöntemlerinden biri olarak düzenlenmiştir. Bu çalışmada gerçeğe uygun değer yaklaşımı öncelikle Türkiye' de 2005 yılından beri uygulanan uluslararası raporlama standartları (TFRS/TMS) açısından incelenmiştir. Standartlardaki kavramsal boyutu ve uygulaması ele alındıktan sonra gerçeğe uygun değer yaklaşımı, BOBI FRS, Faizsiz Finans Muhasebe Standartları ve KÜMİ FRS açısından ele alınmış ve düzenlemeler arasındaki farklılıklar ortaya konmuştur.

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The Analysis of the Appliance of Fair Value Concept in Croatian Companies from Real Sector

Cited by 3 publications

References 12 publications

Revaluation as a Model of Subsequent Measurement of Property, Plant, and Equipment – Case of Croatia

Revaluation as a Model of Subsequent Measurement of Property, Plant, and Equipment – Case of Croatia

Subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia

TFRS/ Tms, Bobi̇ Frs, Kümi̇ FRS Ve Fai̇zsi̇z Fi̇nans Muhasebe Standartlari Kapsaminda Gerçeğe Uygun Değer Kavrami

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