<p>We investigate some simulation-based approaches for the valuing of the employee stock options. The mathematical models that deal with valuation of such options include the work of Jennergren and Naeslund [L.P Jennergren and B. Naeslund, A comment on valuation of executive stock options and the FASB proposal, Accounting Review 68 (1993) 179-183]. They used the Black and Scholes [F. Black and M. Scholes, The pricing of options and corporate liabilities, Journal of Political Economy 81(1973) 637-659] and extended partial differential equation for an option that includes the early exercise. Some other major relevant works to this mini thesis are Hemmer et al. [T Hemmer, S. Matsunaga and T Shevlin, The influence of risk diversification on the early exercise of employee stock options by executive officers, Journal of Accounting and Economics 21(1) (1996) 45-68] and Baril et al. [C. Baril, L. Betancourt, J. Briggs, Valuing employee stock options under SFAS 123 R using the Black-Scholes-Merton and lattice model approaches, Journal of Accounting Education 25 (1-2) (2007) 88-101]. The underlying assets are studied under the GARCH (generalized autoregressive conditional heteroskedasticity) effects. Particular emphasis is made on the American style employee stock options.</p>

The evidence of this research paper suggests an increased value-relevance of OCI in the Swedish stock market after the 2011 amendment of IAS 19. This amendment eliminated the popular corridor approach that ‘smoothed’ the recognition of actuarial gains and losses and required companies instead to recognize such remeasurements directly to their full extent in OCI. We reason that the current economic environment marked by low interest rates together with demographic trends in life expectancy have amplified the impact of the standard revision on financial statements. Moreover, this research paper is conducted in a Swedish setting that is characterized by widespread occupational pension schemes. In line with informational accounting research, we use regression models to identify whether OCI has more explanatory power for stock market prices and returns. Shares listed on NASDAQ OMX Stockholm are investigated for this purpose. Furthermore, in the course of this research, we revisit the controversial debate on comprehensive income reporting and work out inconsistencies in current IFRS reporting. / Beviset för den forskningen  föreslår att ökade värde-relevans av Övrigt totalresultat i den svenska aktiemarknaden efter 2011 p.g.a. ändringen av IAS 19. Ändringen eliminerade populära korridormetoden att "jämnas" erkännande av ackumulerade vinster och förluster och krävde företag istället erkänna sådana omvärderingar direkt i full utsträckning i övrigt totalresultat. Vi resonerar nuvarande ekonomiska läge som präglas av låga räntor tillsammans med den demografiska utvecklingen i den förväntade livslängden har förstärkt effekterna av standard ändring  i  finansiella rapporter. Dessutom är denna uppsats genomförts på Svensk arbetsmarknad som kännetecknas av omfattande tjänstepensionssystem. I linje med informations redovisning forskning använder vi regressionsmodeller för att identifiera om “Övrigt totalresultat”  har mer förklaring för börskurser och avkastning. Aktier noterade på NASDAQ OMX Stockholm undersöks för detta ändamål. Dessutom under den forskning, titta  vi närmare den kontroversiella debatten om totalresultat rapportering och gå igenom inkonsekvenser i nuvarande IFRS-redovisning.

Made available in DSpace on 2016-04-25T18:39:53Z (GMT). No. of bitstreams: 1 Luciano Evangelista Pereira.pdf: 1884847 bytes, checksum: a38f92522c5c2d9c323d24808e4147c4 (MD5) Previous issue date: 2013-01-21 / The constitution of the Accounting Pronouncements Committee (CPC) followed by Laws 11.638/2007 and 11.941/2009 resulted in a very important moment in Brazilian accounting. The approval of these laws, especially the Law 11.638/07 represented a landmark in the convergence process of Brazilian Accounting Standards (BRGAAP) to International Financial Reporting Standards (IFRS) of the International Accounting Standard Board (IASB), the European entity responsible for issuing International Financial Reporting Standards (IFRS) that have been adopted in more than 100 countries worldwide. All these efforts together with the internationalization of capital markets and economic growth an accelerated made Brazil a target for potential foreign investors and market analysts who use accounting information for investment analysis. The IFRS adoption in Brazil caused significant impacts on the financial statements of Brazilian companies, upon of adoption by pronouncement CPC 37 equivalent as IFRS 1 of IASB. The present study aims to investigate the overall impacts of the adoption of International Financial Reporting Standards (IFRS) in the Income Statement of seven companies that comprise the retail segment of textiles, apparel and footwear, as specific objectives to ascertain the impact of the adoption of IFRS on financial statements of the research object, based on your notes and present effects the Income Statement, through a comparison of the main rules that affected the first adoption, as well to answer the central question: What the impacts the process of the IFRS adoption on the Income Statement of companies that comprise the retail segment of textiles, apparel and footwear with shares on the BM&F-BOVESPA?. The research result shows that the process of adoption of International Financial Reporting Standards (IFRS) generated impacts primarily by reclassifying income for the year 2009 for the comparative basis of the first IFRS financial statements published by the companies under study / A constituição do Comitê de Pronunciamentos Contábeis (CPC), seguida pelas Leis 11.638/2007 e 11.941/2009 resultaram em importante momento na contabilidade brasileira. A aprovação das referidas leis, em especial a Lei 11.638/07 representou o marco inicial do processo de convergência das normas brasileiras de contabilidade (BRGAAP) para as normas internacionais de contabilidade (IFRS) do International Accounting Standard Board (IASB), entidade europeia responsável pela emissão das International Financial Reporting Standards (IFRS) que já foram adotadas em mais de 100 países em todo o mundo. Todos esses esforços, em conjunto com a internacionalização dos mercados de capitais e o crescimento da economia de forma acelerada, fizeram do Brasil um país alvo de potenciais investidores estrangeiros e analistas de mercado que utilizam as informações contábeis para análise de investimentos. A adoção das IFRS como padrão de contabilidade no Brasil causou impactos significativos nas demonstrações contábeis das empresas brasileiras, quando de sua adoção pelo Pronunciamento CPC 37 equivalente a IFRS 1 do IASB. O presente estudo tem por objetivo geral apurar os impactos da adoção das Normas Internacionais de Contabilidade (IFRS) no Resultado do Exercício das sete empresas que compõem o segmento varejista de tecidos, vestuário e calçados e, como objetivos específicos averiguar os impactos da adoção das IFRS nas demonstrações financeiras das empresas objeto da pesquisa, com base nas suas notas explicativas e apresentar os efeitos nos resultados, por meio de um comparativo das principais normas que afetaram a primeira adoção, bem como responder à seguinte questão problema: Quais os impactos causados pelo processo de adoção das IFRS no resultado das empresas do segmento varejista de tecidos, vestuário e calçados com ações na BM&F-BOVESPA? O resultado da pesquisa mostrou que o processo de adoção das Normas Internacionais de Contabilidade (IFRS) gerou impactos principalmente pela reclassificação do Resultado do Exercício de 2009 para a base comparativa das primeiras demonstrações financeiras em IFRS, publicadas pelas empresas objeto de estudo

Magister Scientiae - MSc / We investigate some simulation-based approaches for the valuing of the employee stock options. The mathematical models that deal with valuation of such options include the work of Jennergren and Naeslund [L.P Jennergren and B. Naeslund, A comment on valuation of executive stock options and the FASB proposal, Accounting Review 68 (1993) 179-183]. They used the Black and Scholes [F. Black and M. Scholes, The pricing of options and corporate liabilities, Journal of Political Economy 81(1973) 637-659] and extended partial differential equation for an option that includes the early exercise. Some other major relevant works to this mini thesis are Hemmer et al. [T Hemmer, S. Matsunaga and T Shevlin, The influence of risk diversification on the early exercise of employee stock options by executive officers, Journal of Accounting and Economics 21(1) (1996) 45-68] and Baril et al. [C. Baril, L. Betancourt, J. Briggs, Valuing employee stock options under SFAS 123 R using the Black-Scholes-Merton and lattice model approaches, Journal of Accounting Education 25 (1-2) (2007) 88-101]. The underlying assets are studied under the GARCH (generalized autoregressive conditional heteroskedasticity) effects. Particular emphasis is made on the American style employee stock options. / South Africa

La finalidad del presente trabajo es analizar el impacto que ha ocasionado la implementación de la Norma Internacional de Contabilidad N° 21 (NIC), desde la óptica de la situación financiera y alcance tributario en las empresas del sector de servicio de telecomunicaciones. Es fundamental comprender que el concepto de globalización de la economía cambió fundamentalmente la práctica internacional de los negocios. En el primer capítulo se expone el marco teórico, que es la base sobre la cual se sustentará el análisis de nuestro trabajo de investigación. El segundo capítulo comprende el Plan de investigación en el que se establece el objetivo, planteamiento del problema principal y secundarios; y las hipótesis; el tercer capítulo determina la metodología empleada para el análisis, establecemos el objetivo y nivel de la investigación, su diseño y una descripción de los instrumentos de recolección de datos a utilizar en la investigación cualitativa y cuantitativa. En el cuarto capítulo tratamos el desarrollo del trabajo con la aplicación de los instrumentos de recolección: entrevistas y encuestas; y en el quinto capítulo se muestra el análisis de los resultados obtenidos en la investigación cualitativa y cuantitativa. Se concluye que existe impacto financiero y tributario, recomendando que las empresas deban establecer políticas y estrategias para mitigar dicho impacto. / The purpose of this paper is to analyze the impact caused by the implementation of International Accounting Standard No. 21 (NIC), from the perspective of the financial situation and tax scope in companies in the telecommunications service sector. It is fundamental to understand that the concept of globalization of the economy fundamentally changed the international practice of business. In the first chapter the theoretical framework is exposed, which is the basis on which the analysis of our research work will be based. The second chapter includes the Research Plan in which the objective is established, the main and secondary problem statement; and the hypotheses; The third chapter determines the methodology used for the analysis, we establish the objective and level of the research, its design and a description of the data collection instruments to be used in qualitative and quantitative research. In the fourth chapter we deal with the development of work with the application of collection instruments: interviews and surveys; and in the fifth chapter the analysis of the results obtained in qualitative and quantitative research is shown. It is concluded that there is a financial and tax impact, recommendations for companies should establish policies and strategies to mitigate this impact. / Tesis

文獻顯示存貨對於銷售和盈餘具有預測能力（Bernard and Noel 1991）。本文進一步探討比較後進先出法和國際會計準則允許之存貨計價方法所揭露之存貨，對於銷售和盈餘之預測能力。2003年發布之國際會計準則第二號公報「存貨」，禁止公司採用後進先出法衡量存貨，本研究擬觀察後進先出法和非後進先出法存貨對公司銷售與盈餘的預測能力是否有所差異。 本研究選取採用後進先出法並且揭露後進先出存貨準備之公司做為樣本，計算出樣本公司在國際會計準則規定下應有之存貨水準，測試與比較後進先出法之存貨與依國際會計準則揭露之存貨，孰者對銷售與盈餘之預測更具攸關性。實證結果顯示，後進先出存貨與國際會計準則存貨代理變數之實證結果並不顯著，顯示存貨在銷售與盈餘之預測迴歸模型中為一雜訊，存貨對銷售和盈餘之預測並不具有增額資訊，也說明存貨生產平穩理論與避免缺貨理論無法解釋存貨對銷售和盈餘預測之關聯性，因此無法判斷採用何種存貨計價方法所揭露之存貨，對銷售與盈餘較具預測能力。 / In economic literature, production smoothing model and stockout model address the predictability of inventory disclosure on sales and earnings. Based on these models, Bernard and Noel (1991) show that inventory disclosure predicts sales and earnings. This study further investigates and compares the predictability of the sales and earnings by inventory reported under last in, last out (LIFO) and that under International Accounting Standard 2 (IAS 2). Thus this study compares the predicting ability of inventory on sales and earnings under IFRS and non-IFRS. This study selects the companies adopting LIFO and disclosing LIFO reserve, calculates the inventory reported under IFRS, and determines the inventory’s ability to predict future sales and earnings under different inventory valuation methods. The empirical results show that the coefficients for the unexpected inventories under LIFO and IFRS are both statistically insignificant, suggesting that the unexpected inventories are merely noises in the models, and that the effects of production smoothing model and stockout model are not prevailed. Thus, it is difficult to determine which inventory valuation method can generate the inventory that leads to better sales and earnings prediction.

H παρούσα διατριβή προσφέρει, για πρώτη φορά, μια ολοκληρωμένη ανάλυση της επίδοσης των τραπεζών σε επίπεδο υποκαταστημάτων (branch level). Αξιολογήθηκε η επίδοση ενός ομοιογενούς δικτύου υποκαταστημάτων μεγάλης Ελληνικής Τράπεζας για την περίοδο Ιανουάριος 2006 - Ιούνιος 2009, στη βάση δύο λειτουργικών κριτηρίων, λαμβάνοντας υπόψη και την επίδραση της πρόσφατης κρίσης: στην αξία που παράγουν τα υποκαταστήματα για το μέτοχο της τράπεζας (shareholder value), όπως αυτή μετράται με το Υπολειμματικό Εισόδημα (residual income -RI), και στο βαθμό αποτελεσματικότητας κέρδους και παραγωγής (profit and production efficiency). Αναφορικά με τη διαχείριση της αξίας, βρέθηκε ότι οι λειτουργικοί παράγοντες αξίας (operational value drivers) που σχετίζονται με τη διαφοροποίηση του εισοδήματος, τη διαχείριση του ελεγχόμενου κόστους, την ικανότητα διαχείρισης του πιστωτικού κινδύνου, το spread των δανείων, και την ικανότητα του υποκαταστήματος να δημιουργεί έσοδα από καταθέσεις χαμηλού κόστους, συνδέονται στατιστικά σημαντικά με το RI. Η κρίση επηρεάζει στατιστικά σημαντικά μόνο τη διαχείριση του πιστωτικού κινδύνου, καταστρέφοντας περαιτέρω αξία για το μέτοχο και υποδεικνύοντας χαμηλότερη ικανότητα διαχείρισης του πιστωτικού κινδύνου. Επιπρόσθετα, αυτό το εμπειρικό εύρημα αποκαλύπτει και την αδυναμία του τρέχοντος λογιστικού πλαισίου σύμφωνα με το ΔΛΠ 39, να αναγνωρίζει και να καταγράφει νωρίτερα (την περίοδο της πιστωτικής ανάπτυξης) ζημιές απομείωσης της αξίας των δανείων. Όσον αφορά στη μέτρηση της αποτελεσματικότητας, βρέθηκε ότι η κρίση μειώνει στατιστικά σημαντικά μόνο τη μέση αποτελεσματικότητα κέρδους του δικτύου, απόρροια της χορήγησης κακών δανείων την περίοδο της πιστωτικής επέκτασης. / This thesis offers, for the first time, a comprehensive analysis of the performance of banks at the branch level. We evaluated the performance of a homogenous retail branch network of a large private Greek bank for the period January 2006-June 2009, based on two operational criteria, taking into account the impact of the recent crisis: the shareholder value that branches generate as measured by the Residual Income (RI) and the profit and production efficiency in branch operations. Regarding the value management, we found that diversified income, cost management, credit risk capabilities, income on core deposits and loan spread are all statistically significant associated with the RI. In addition, the value driver of credit risk capabilities is incrementally negatively associated with residual income at the branch level during the recent crisis, indicating lower ability to manage credit risk. Moreover, this finding reveals the inability of the current accounting framework under IAS 39 to recognize and record earlier (in the expansion period) impaired loans. Regarding the efficiency measurement, we found that during the crisis only the average profit-oriented efficiency of the branch network reduced significantly. We located the roots of the efficiency loss in the expansion period, in which over-optimism leads to the granting of bad quality loans.

Made available in DSpace on 2016-08-29T11:13:29Z (GMT). No. of bitstreams: 1 tese_9138_Dissertação JULIANA BATISTA CALLEGARIO - Para PPGCON.pdf: 1179487 bytes, checksum: b205d451b055ddd4d249f7f030326b26 (MD5) Previous issue date: 2015-12-18 / Este estudo investiga quais fatores culturais, sociais, políticos e econômicos influenciam na adoção das Normas Internacionais de Contabilidade Aplicadas ao Setor Público (International Public Sector Accounting Standards - IPSAS) pelos países. Com base em informações disponibilizadas pela IFAC (2007) e Deloitte (2013) foram analisadas e segregadas as diferentes posições tomadas pelos países, como adoção por completo das IPSAS; sinalização de intenção de adoção; adoção parcial pelo regime de caixa (Cash-Basis) das IPSAS; e adoção do regime de competência com base nas IPSAS. Os fatores levantados foram PIB per capita; número de habitantes; não adoção das IFRS (International Financial Reporting Standard) pelos países; índice de percepção da corrupção; origem do sistema legal; e dimensões culturais de Hofstede (2015), coletados entre 1995 e 2013 de 214 países, inicialmente. Na abordagem metodológica é aplicado modelo de regressão logística (logit) baseado em Clements, Neill e Stovall (2010), adaptando para dados em painel com efeitos aleatórios. Os resultados indicam que países que têm a intenção de adotar as IPSAS podem ser explicados pela variação positiva das variáveis PIB per capita, quantidade de habitantes, origem de sistema legal anglo-saxão, socialista e francês, e pela variação negativa das variáveis culturais: individualismo e indulgência. Em outro teste realizado, foi detectado que os países que adotaram parcialmente as IPSAS, com aplicação do regime de competência, podem ser explicados pela variação positiva das variáveis PIB per capita, quantidade de habitantes e pela cultura individualista de uma sociedade; e pela variação negativa do índice de percepção da corrupção, origem de sistema legal escandinavo e variáveis culturais: masculinidade e orientação a longo prazo. A regressão logística que uni qualquer interesse pelas IPSAS mostrou que os países de origem socialista e com culturas com pouca desigualdade social, menos aversão à incerteza e poucos pragmáticos podem justificar tal escolha. Houve também uma relação positiva com o número de habitantes e o PIB per capita, que sugere que países mais populosos e desenvolvidos tendem adotar as IPSAS. As outras regressões logísticas testadas não permitiram inferência estatística. Ainda, em nenhuma regressão testada, houve comprovação de dependência entre a não permissão do IFRS pelos países com a não adoção das IPSAS. / This study investigates which cultural, social, political and economic factors influence the adoption of International Financial Reporting Standards Applied to the Public Sector (International Public Sector Accounting Standards - IPSAS) by countries. Based on information provided by IFAC (2007) and Deloitte (2013) the different positions were analyzed and segregated taken by countries such as adoption of IPSAS completely; signaling intent to adopt; Partial adoption on a cash basis (Cash Basis) IPSAS; and adoption of the accrual basis based on IPSAS. The factors were raised GDP per capita; number of inhabitants; non-adoption of IFRS (International Financial Reporting Standards) by the countries; perception index of corruption; origin of the legal system; and cultural dimensions of Hofstede (2015), collected between 1995 and 2013 for 214 countries, initially. The methodological approach is applied logistic regression model (logit) based on Clements, Neill and Stovall (2010), adapted for panel data with random effects. The results indicate that countries that intend to adopt IPSAS can be explained by the positive variation of the variables GDP per capita, number of inhabitants, the origin of Anglo-Saxon legal system, socialist and French, and the negative variation of cultural variables: individualism and indulgence. In another test conducted, it was found that countries that have partially adopted the IPSAS, applying the accrual basis can be explained by the positive variation of the variables GDP per capita, number of inhabitants and the individualistic culture of a company; and the negative variation of the variables of the Corruption Perceptions Index, Scandinavian legal system of origin and cultural variables: masculinity and long-term orientation. As a complement, logistic regression that uni any interest in IPSAS showed that socialist countries of origin and cultures with little social inequality, less uncertainty avoidance and pragmatic few can justify such a choice. There was also a positive relationship with the number of inhabitants and GDP per capita, which suggests that more populated and developed countries tend to adopt IPSAS. The other tested logistic regressions did not allow statistical inference. Still, in any regression tested, there was evidence of dependency between the IFRS not allowed by the countries with the non-adoption of IPSAS.

Typischerweise entstehen Rechnungslegungsnormen im Rahmen eines politischen Prozesse, gleich, ob dieser parlamentarisch oder privatrechtlich organisiert ist. Daher sieht sich der Normentstehungsprozess regelmäßig Lobbyingaktivitäten diverser Interessengruppen ausgesetzt. Die vorliegende Arbeit undersucht in vier Manuskripten verschiedenste Bereiche der Entstehung von Rechnungslegungsnormen, sowohl im Rahmen parlamentarischer wie auch privatrechtlicher Regulierungsstrukturen. Manuskript A. bereitet den theoretischen Hintergrund des Rechnungslegungslobbying auf und identifiziert thematische wie auch methodische Forschungslücken. Manuskript B. entwickelt daraufhin eine neuartige Forschungsmethode für Rechnungslegungslobbying, die Elemente der sozialwissenschaftlichen Inhaltsanalyse mit solchen der Diskursanalyse verbindet. Im Rahmen der Anwendung dieser Methode auf die Entstehung des Bilanzrechtsmodernisierungsgesetzes wird gezeigt, dass die Methode in einem parlamentarischen Normentstehungsprozess anwendbar ist. Darüber hinaus werden Potenziale für eine Anwendung auch in privatrechtlich organisierten Rechnungslegungssystemen aufgezeigt. Manuskript C. betrachtet die Rolle der Wissenschaftler in einem deutschen Kontext und verbindet methodisch dabei die Inhaltsanalyse mit historisch-kritischer Forschung. Festgestellt werden kann dabei, dass die Einstellung deutscher Hochschullehrer im Bereich zur Zeitwertbewertung im Rahmen deutscher Rechnungslegung durchaus mit rechnungslegungshistorischen Beobachtungen erklärt werden kann. Manuskript D. widmet sich schließlich der privatrechtlich geprägten Normentstehung auf Ebene des IASV. Mit Hilfe einer interpretativen Inhaltsanalyse und deskriptiv statistischen Verfahren wird gezeigt, dass die Mitarbeiter Numerale im Rahmen bestimmter Dokumente inkonsistent verwenden. Dieses Ergebnis konterkariert die Bemühungen des IASB um Transparenz und lässt Lücken für nicht beobachtbare Einflussnahmen auf die Mitarbeiter des IASB. In ihrer Gesamtheit tragen die vier Manuskripte sowohl methodisch wie auch thematisch zur Fortentwicklung der Forschung im Rechnungslegungslobbying bei. Bislang vernachlässigte Forschungsmethoden werden aufgezeigt, modifiziert und auf eine Vielzahl verschiedener Fragestellungen angewandt. Darüber hinaus untersuchen die Manuskripte insbesondere diejenigen Bereiche des Rechnungslegungslobbying, die bislang von den meisten Forschern in diesem Gebiet vernachlässigt wurden. / Typically, accounting standards emerge within a political process, be it that this process is driven by a parliament or a private institution. Consequently, the whole process is subject to lobbying efforts by several interest groups. Four essays examine various parts of processes of emergence of accounting standards in parliamentary as well as private standard setting environments. Essay A. provides the theoretical background concerning lobbying on accounting standards and identifies research potential, in terms of topics as well as methods. Essay B. develops an innovative research method for research of lobbying on accounting standards combining elements of content and discourse analysis. It is proven that this research design is applicable in a parliamentary setting. Moreover potentials for research in private settings are identified. Essay C. focuses on academics in accounting standard setting in a German context and combines a content analysis with historical research. For the attitude of German accounting academics concerning fair value accounting in a German context it is shown that German accounting history may be a source of explanation. Finally, essay D. focuses on a private standard setting institution, namely the IASB. Using a content analysis and descriptive statistics, it is shown that the IASB staff uses quantifiers in certain documents inconsistently. This finding counteracts the IASB’s efforts towards transparency. Through all four essays a contribution to accounting standard lobbying is made. Alternative research methods are introduced, modified and used for a variety of lobbying areas. Moreover, the essays focus on groups in the context of accounting standards lobbying that have not yet been paid attention by most accounting researchers.

This study examined the lobbying of the International Accounting Standards Board (IASB) by South African companies. The aim of this study was to establish the timing and methods of lobbying of the IASB by South African companies. Central to this study was the seminal work of Sutton (1984), predicting when and how companies lobby an accounting standard-setter. The research hypotheses for this study were formulated on the basis of Sutton’s (1984) predictions. The online questionnaire in this study was distributed to the top 100 JSE primary listed companies in order to collect primary data to test the four hypotheses regarding the timing, methods and perceived effectiveness of lobbying by South African companies. The findings of the empirical investigation indicated that most South African companies lobby later in the due process of the IASB and prefer using their auditors to support their views at the IASB. The findings are subject to certain limitations that are addressed in the study. Lastly, the researcher provided recommendations for future research in accounting standard-setting in South Africa. / Financial Accounting / M. Phil. (Accounting Sciences)