Wiley GAAP 2017 ‐ Interpretation and Application of Generally Accepted Accounting Principles

Flood, Joanne M.

doi:10.1002/9781119357032

Cited by 8 publications

(13 citation statements)

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“…Concerning Toshiba’s FSF, the most relevant way is omission of accounting changes. As stated in the US GAAP guide, the ASC 250 identifies three main areas of accounting changes that should be disclosed within the financial statements which are: accounting principles; estimates; and reporting entities (Flood, 2016). However, the required handling for every area varies making each area vulnerable to manipulation by determinant perpetrators.…”

Section: Literature Reviewmentioning

confidence: 99%

Fraudulent financial reporting: an application of fraud diamond to Toshiba’s accounting scandal

Demetriades

Owusu‐Agyei

2021

JFC

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Purpose The purpose of this paper is to examine Toshiba’s fraudulent financial reporting in relation to the fraud diamond (pressure, opportunity, rationalisation and capability). Design/methodology/approach A quantitative empirical research, analysing secondary data from Toshiba’s published annual reports before restatement, from 2008–2014 has been used. A simultaneous equations approach was used to test the hypothesis. Excel software was used to analyse secondary data and to carry out correlation analysis and descriptive statistics analysis. Findings This study uncovers evidence that pressure proxied by return on assets (ROA), the opportunity proxied by ineffective monitoring (BDOUT), rationalisation proxied by audit opinion (AO) and capability proxied by board member changes (BCHANGE) had moderate to strong relationship to financial statement fraud (FSF) (proxied by Beneish M-score model). However, ROA has a negative and significant effect on Toshiba’s FSF. BDOUT, AO and BCHANGE have positive and significant effect on Toshiba’s FSF. Furthermore, there is no multicollinearity problem within the four variables. Overall, this study has statistically proven that all dimensions of fraud diamond are required for the explanation of Toshiba’s accounting scandal. Originality/value Although a few studies discuss the four dimensions (fraud diamond), none, to our surprise, exists which explain the circumstances led Toshiba’s high-level executives to commit fraud. This study is the first thorough investigation of Toshiba’s accounting scandal that uses all four dimensions to explain Toshiba’s FSF.

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Section: Literature Reviewmentioning

confidence: 99%

Fraudulent financial reporting: an application of fraud diamond to Toshiba’s accounting scandal

Demetriades

Owusu‐Agyei

2021

JFC

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“…The standard which deals with intangible assets is the Accounting Standards Codification-ASC 350, Intangibles -Goodwill and Other, and consists of the following five subtopics (Flood, 2019): According to (FASB, 2019), two criteria are listed, of which at least one needs to be met in order for an intangible asset to be identified. Both of these criteria are identical to the criteria prescribed by IFRS/IAS.…”

Section: Us Gaap On Intangible Assetsmentioning

confidence: 99%

“…The initial recognition of intangible investments acquired individually or with a group of other assets is based on their fair value. Companies can purchase certain intangible investments, however the capitalization of internal development costs, maintenance costs or renewal of intangible investments is not allowed (Flood, 2019). It is possible to capitalize only costs incurred in the development phase when the software is developed for internal use (Nwogugu, 2012).…”

Section: Us Gaap On Intangible Assetsmentioning

confidence: 99%

Tax Avoidance, Accounting and Financial Reporting. The Perspective of the Visegrad Group Countries and Serbia

2021

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“…Tax accounting theory and practice are disclosed in books and papers of the following authors: Anuschka Bakker, Tjeerd van den Berg, Bart Janssen [1], Barry J. Epstein, Ralph Nach, Steven M. Bragg [2], Benedikt Zinn [3], Christopher H. Hanna [4], Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield [5], Frank L. Brunetti [6], F. Michael Cochrane [7], Glenn R. Carrington [8], Henry Lunt [9], Joanne M. Flood [10], Lin Gang [11], Lynne Oats, Bill Telford [12], Matthias Walz, Jens Briese, Martin Haas, Gerd Gutekunst [13], Michael B. Lang, Elliott Manning, Mona L. Hymel [14], Michel Glautier, Brian Underdown, Deigan Morris [15], Misrak Tesfaye Abate [16], Peter H. J. Essers [17], Richard Petersen [18], Robert N. Antony, James S. Reece [19], Rod Caldwell [20], Roger H. Hermanson, James Don Edwards, Roland Frank Salmonson [21], Stephen F. Gertzman [22], Tami Van Tassell, David Beaver, Bill Maloney [23], Trent Green [24], Zhang Zhi Feng, Li Hui Si Zhu [25] Unfortunately, most authors have just focused on the recording technique development, that is, the regulation of accounting process, without description of tax accounting as a system.…”

Section: Introductionmentioning

confidence: 99%

Tax Accounting System for Geotechnical Construction

et al. 2019

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The importance of this research is based on the need of the tax accounting organization as information system, because that can meet the information needs of users in information useful for tax management. This need is strongly manifested in respect of geotechnical construction enterprises, because without reliable information it is impossible to make quality decisions in the tax management of these enterprises. And the right decisions in tax management ensure the survival of these enterprises in the long term. As the information system, tax accounting organization and maintenance require the description of tax accounting in terms of system approach. The purpose of this article is to give determination of tax accounting based on the implementation of a system approach, because applying a system approach will allow organizing the tax accounting, as well as functioning information system. As a result of the research, the definition of tax accounting was given from the point of view of system approach, subsystems of tax accounting were defined, and its elements were described. Also, relations between the elements were determined. Functions implemented by a tax accounting system were described, and relations between the functions were identified. This research is practically important and can be applied only in those countries where tax legislation provides for differences in an order of calculation of tax report figures and calculation of financial report figures, or where the national tax legislation permits the employment of different methods of calculation for tax and financial reports.

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Wiley GAAP 2017 ‐ Interpretation and Application of Generally Accepted Accounting Principles

Cited by 8 publications

References 0 publications

Fraudulent financial reporting: an application of fraud diamond to Toshiba’s accounting scandal

Fraudulent financial reporting: an application of fraud diamond to Toshiba’s accounting scandal

Tax Avoidance, Accounting and Financial Reporting. The Perspective of the Visegrad Group Countries and Serbia

Tax Accounting System for Geotechnical Construction

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