This diploma thesis deals with impacts of implementation of the new standard IFRS 15 which is result of part of the project convergence between IFRS and US GAAP. The theoretical part describes current standards which deal with revenues recognition under IFRS and US GAAP and compares them. The practical part describes the new standard IFRS 15. In the practical part there is an identification of changes in comparison with current standards and presented impact which will affect specific sectors.

Diplomová práce je zaměřena na teoretické vymezení zásob, jejich oceňování a na praktickou část, která popisuje problematiku na konkrétním podniku, který se zabývá z převážné většiny výrobou nástrojů a výrobků pro automobilový průmysl. Cílem diplomové práce bylo poznat realitu na konkrétním podniku a popsat obecně problematiku evidence a účetní ocenění zásob.

The aim of this work is to introduce reader to the concept of goodwill. First focuses on understanding the meaning and content of the concept and then describes the development of reporting goodwill as an accounting item. The work also includes an outline of future development of goodwill in IFRS and U.S. GAAP. Some chapters are supplemented with examples that explain the theoretical knowledge and help reader better understand the issue.

The recent adoption of International Financial Reporting Standards (IFRS) by major bodies, such as the European Union, has encouraged a global effort to attain universal financial comparability and consistency. The U.S. has recently proposed a roadmap to adopt IFRS as the basis of financial reporting for publicly traded companies. The roadmap outlines issues that must be considered to successfully transition from United States Generally Accepted Accounting Principles (US GAAP) to IFRS. The purpose of this thesis is to dissect the broad implications of transitioning financial reporting from US GAAP to IFRS and to examine the primary issues that must be addressed. A discussion of the four key goals used to enhance financial standards, comparability and consistency, transparency, independence, and perception, provides a basis for examining the fundamental questions that provide the impetus for this transition. The implementation process and issues will also be examined. Issues and concerns that directly relate to the discussion of IFRS implementation in the United States (US) include political relations, education, audit methodology, technology, taxation effects, and overall costs for companies. Public perception of changes in the above issues may affect financial markets and economies worldwide. The thesis is intended to provide an in depth discussion for those who wish to further educate themselves on the potential IFRS implementation in the US. The results should allow readers to understand the vast effects of the US implementing IFRS, encouraging further consideration of critical issues that need to be resolved before the transition takes effect.

O presente estudo tem por objetivo investigar as características e implicações da divulgação voluntária das medidas de desempenho não-GAAP \"EBITDA\" e \"EBITDA Ajustado\" em relatórios financeiros preparados conforme IFRS no cenário corporativo brasileiro. A principal preocupação relacionada a divulgações voluntárias é se de fato estas informações garantem a qualidade do processo decisório dos usuários. A natureza do estudo é empírico-teórica com abordagem qualitativa e quantitativa. Os dados documentais foram extraídos de três fontes: Thomson Reuters; relatórios anuais e press releases disponibilizados no site de cada companhia; e formulários de referência disponibilizados no site da CVM. A amostra selecionada é a do índice IBrX 100 e os dados analisados são dos períodos trimestrais e anuais de 2014 e 2015. Para coleta das percepções sobre o uso e divulgação das métricas estudadas, aplica-se o questionário semiestruturado com sócios de firmas BigFour. Os principais resultados qualitativos sugerem, em linhas gerais: que o uso e divulgação das medidas estudadas tem ocorrido de forma ampla, consistente e regular; que 79% dos ajustes adicionais efetuados pelas companhias por meio do EBITDA Ajustado são consequência de princípios e regras contábeis vigentes conforme IFRS; que os ajustes adicionais mais comuns efetuados pelas companhias são Impairment, Provisões, Correção de Erros e Equivalência Patrimonial; e que o uso e divulgação das medidas investigadas se faz necessário uma vez que a contabilidade não é suficiente para prover aos seus usuários uma medida que forneça o desempenho isolado da atividade operacional de uma companhia. Pode-se concluir com base nos resultados quantitativos deste estudo que empresas de maior porte, que aderem a níveis de governança corporativa e que possuem receitas líquidas menores, estão mais propensas a divulgar as medidas \"EBITDA\" e \"EBITDA Ajustado\". As evidências advindas deste estudo podem ser úteis para colaborar com a discussão atual de órgãos reguladores e normatizadores ao apontar o papel informativo de medidas alternativas de mensuração, mas não deixando de alertar que estes números necessitam ser acompanhados e fiscalizados pelos entes e instituições cabíveis. / The present study aims to investigate the characteristics and implications of the voluntary disclosure of non-GAAP performance measures \"EBITDA\" and \"Adjusted EBITDA\" in financial reports prepared under IFRS in the Brazilian corporate scenario. The main concern related to voluntary disclosures is whether this information actually guarantees the quality of the user\'s decision-making process. The nature of the study is empirical-theoretical with a qualitative and quantitative approach. Documentary data were extracted from three sources: Thomson Reuters; annual reports and press releases made available on each company\'s website; and reference forms available on the CVM website. The selected sample is the IBrX 100 index and the data analyzed are from the quarterly and annual periods of 2014 and 2015. To collect the perceptions about the use and disclosure of the metrics studied, the semi-structured questionnaire is applied with partners of BigFour firms. The main qualitative results suggest, in general lines: that the use and disclosure of the measures studied has occurred in a broad, consistent and regular way; that 79% of the additional adjustments made by the companies through Adjusted EBITDA are a consequence of accounting principles and rules according to IFRS; that the most common additional adjustments made by the companies are Impairment, Provisions, Errors and Equity Method; and that the use and disclosure of the measures investigated becomes necessary since accounting is not sufficient to provide its users with a measure that provides the isolated performance of a company\'s operating activity. It can be concluded from the quantitative results of this study that larger companies, which adhere to levels of corporate governance and have lower net revenues, are more likely to disclose the measures \"EBITDA\" and \"Adjusted EBITDA\". Evidence from this study may be useful to collaborate with the current discussion of regulators and regulators by pointing out the informative role of alternative measures of measurement, while noting that these figures need to be monitored and monitored by appropriate bodies and institutions.

Abstract   Title:                               Goodwill – differences and similarities between how IFRS and U.S. GAAP treats goodwill   Level:                              One year master, 15 credits   Author:                           Oscar Larsen and Thomas Karlsson   Supervisor:                     Leif Carlsson   Examiner:                      Cecilia Lindh   Year of publication:      2011   The main issue:              What are the differences and similarities of the treatment of goodwill between the U.S. GAAP and IFRS? What can the transition from U.S. GAAP to IFRS imply to companies regarding goodwill?   Aim:                                The aim with this thesis is to treat differences and similarities between U.S. GAAP and IFRS regarding how goodwill is generated and distributed in a business combination and also how the process of an impairment test of goodwill is carried through. The aim is further to treat possible effects that a transition may imply to companies regarding goodwill.   Method:                          In this study a qualitative research method has been used where the gathered information has been collected from interviews that has been analyzed and compared with the theoretical studies.   Conclusion:                    Differences described in theory doesn’t have to be confirmed with practices though it depends on how different companies in different industries interpret and apply these regulations   Keywords:                      Goodwill, IFRS, U.S. GAAP, impairment, business combination

On 28 July 2010, the Nigerian Federal Executive Council approved January 1, 2012 as the effective date for the convergence of Nigerian Statement of Accounting Standards (SAS) or Nigerian GAAP (NG-GAAP) with International Financial Reporting Standards (IFRS). By this pronouncement, all publicly listed companies and significant public interest entities in Nigeria were statutorily required to issue IFRS based financial statements for the year ended December, 2012. This study investigates the impact of the adoption of IFRS on the financial statements of Nigerian listed Oil and Gas entities using six years of data which covers three years before and three years after IFRS adoption in Nigeria and other African countries. First, the study evaluates the impact of IFRS adoption on the Exploration and Evaluation (E&E) expenditures of listed Oil and Gas companies. Second, it examines the impact of IFRS adoption on the provision for decommissioning of Oil and Gas installations and environmental rehabilitation expenditures. Third, the study analyses the impact of the adoption of IFRS on the average daily Crude Oil production cost per Barrel. Fourth, it examines the extent to which the adoption and implementation of IFRS affects the Key Performance Indicators (KPIs) of listed Oil and Gas companies. The study further explores the impact of IFRS adoption on the contractual relationships between Nigerian Government and Oil and Gas companies in terms of Joint Ventures (JVs) and Production Sharing Contracts (PSCs) as it relates to taxes, royalties, bonuses and Profit Oil Split. A Paired Samples t-test, Wilcoxon Signed Rank test and Gray’s (Gray, 1980) Index of Conservatism analyses were conducted simultaneously where the accounting numbers, financial ratios and industry specific performance measures of GAAP and IFRS were computed and analysed and the significance of the differences of the mean, median and Conservatism Index values were compared before and after IFRS adoption. Questionnaires were then administered to the key stakeholders in the adoption and implementation of IFRS and the responses collated and analysed. The results of the analyses reveal that most of the accounting numbers, financial ratios and industry specific performance measures examined changed significantly as a result of the transition from GAAP to IFRS. The E&E expenditures and the mean cost of Crude Oil production per barrel of Oil and Gas companies increased significantly. The GAAP values of inventories, GPM, ROA, Equity and TA were also significantly different from the IFRS values. However, the differences in the provision for decommissioning expenditures were not statistically significant. Gray’s (Gray, 1980) Conservatism Index shows that Oil and Gas companies were more conservative under GAAP when compared to the IFRS regime. The Questionnaire analyses reveal that IFRS based financial statements are of higher quality, easier to prepare and present to management and easier to compare among competitors across the Oil and Gas sector but slightly more difficult to audit compared to GAAP based financial statements. To my knowledge, this is the first empirical research to investigate the impact of IFRS adoption on the financial statements of listed Oil and Gas companies. The study will therefore make an enormous contribution to academic literature and body of knowledge and void the existing knowledge gap regarding the impact and implications of IFRS adoption on the financial statements of Oil and Gas companies.

O presente estudo tem por objetivo investigar as características e implicações da divulgação voluntária das medidas de desempenho não-GAAP \"EBITDA\" e \"EBITDA Ajustado\" em relatórios financeiros preparados conforme IFRS no cenário corporativo brasileiro. A principal preocupação relacionada a divulgações voluntárias é se de fato estas informações garantem a qualidade do processo decisório dos usuários. A natureza do estudo é empírico-teórica com abordagem qualitativa e quantitativa. Os dados documentais foram extraídos de três fontes: Thomson Reuters; relatórios anuais e press releases disponibilizados no site de cada companhia; e formulários de referência disponibilizados no site da CVM. A amostra selecionada é a do índice IBrX 100 e os dados analisados são dos períodos trimestrais e anuais de 2014 e 2015. Para coleta das percepções sobre o uso e divulgação das métricas estudadas, aplica-se o questionário semiestruturado com sócios de firmas BigFour. Os principais resultados qualitativos sugerem, em linhas gerais: que o uso e divulgação das medidas estudadas tem ocorrido de forma ampla, consistente e regular; que 79% dos ajustes adicionais efetuados pelas companhias por meio do EBITDA Ajustado são consequência de princípios e regras contábeis vigentes conforme IFRS; que os ajustes adicionais mais comuns efetuados pelas companhias são Impairment, Provisões, Correção de Erros e Equivalência Patrimonial; e que o uso e divulgação das medidas investigadas se faz necessário uma vez que a contabilidade não é suficiente para prover aos seus usuários uma medida que forneça o desempenho isolado da atividade operacional de uma companhia. Pode-se concluir com base nos resultados quantitativos deste estudo que empresas de maior porte, que aderem a níveis de governança corporativa e que possuem receitas líquidas menores, estão mais propensas a divulgar as medidas \"EBITDA\" e \"EBITDA Ajustado\". As evidências advindas deste estudo podem ser úteis para colaborar com a discussão atual de órgãos reguladores e normatizadores ao apontar o papel informativo de medidas alternativas de mensuração, mas não deixando de alertar que estes números necessitam ser acompanhados e fiscalizados pelos entes e instituições cabíveis. / The present study aims to investigate the characteristics and implications of the voluntary disclosure of non-GAAP performance measures \"EBITDA\" and \"Adjusted EBITDA\" in financial reports prepared under IFRS in the Brazilian corporate scenario. The main concern related to voluntary disclosures is whether this information actually guarantees the quality of the user\'s decision-making process. The nature of the study is empirical-theoretical with a qualitative and quantitative approach. Documentary data were extracted from three sources: Thomson Reuters; annual reports and press releases made available on each company\'s website; and reference forms available on the CVM website. The selected sample is the IBrX 100 index and the data analyzed are from the quarterly and annual periods of 2014 and 2015. To collect the perceptions about the use and disclosure of the metrics studied, the semi-structured questionnaire is applied with partners of BigFour firms. The main qualitative results suggest, in general lines: that the use and disclosure of the measures studied has occurred in a broad, consistent and regular way; that 79% of the additional adjustments made by the companies through Adjusted EBITDA are a consequence of accounting principles and rules according to IFRS; that the most common additional adjustments made by the companies are Impairment, Provisions, Errors and Equity Method; and that the use and disclosure of the measures investigated becomes necessary since accounting is not sufficient to provide its users with a measure that provides the isolated performance of a company\'s operating activity. It can be concluded from the quantitative results of this study that larger companies, which adhere to levels of corporate governance and have lower net revenues, are more likely to disclose the measures \"EBITDA\" and \"Adjusted EBITDA\". Evidence from this study may be useful to collaborate with the current discussion of regulators and regulators by pointing out the informative role of alternative measures of measurement, while noting that these figures need to be monitored and monitored by appropriate bodies and institutions.

The final thesis deals with lease and it's accounting and reporting treatment according to the International Financial Accounting Standards compared to the adjustment applicable in Czech republic. The first part is devoted to the basic characteristic of lease, it's division and historical development, especially in Czech republic. Second part aims the accounting treatment of lease under the czech accounting laws and also prescribes the tax consequences of lease. Third part of the thesis deals with the IFRS adjustment of lease, concretely with IAS 17 Leases. It targets the classification of leases, the accounting and reporting treatment for the lessor and the lessee as well and also the convergence project of IFRS and US GAAP related to leases. The work is completed with the practical application of the introduced observation on a real lease contract under the czech regulation and under IFRS.

Cette thèse étudie les efforts mis en oeuvre par le Financial Accounting Standards Board (FASB) et l'International Accounting Standards Board (IASB) afin de produire de manière conjointe un ensemble de normes comptables pour réguler les marchés dans le monde entier. Pour ce faire, elle examine comment un processus de changement comptable (institutionnel) – décrit comme un processus de convergence - a évolué au sein de l'espace transnational de normalisation comptable. Cette recherche étudie le rôle que les institutions et les politiques jouent dans le processus de convergence des FASB-IASB, ainsi que leur rôle dans les processus par lesquels les normalisateurs prennent une décision collective sur un standard très controversé. A partir de la littérature sur la normalisation comptable considérée comme le socle de base de cette thèse, je me sers d’un cadre théorique à la fois institutionnel et politique pour explorer systématiquement la convergence des normes comptables. J’effectue trois études empiriques. Chacune de ces études couvre les activités de normalisation ayant eu lieu entre 2002 et 2011 et utilise des études de cas s'appuyant sur plusieurs sources de données comprenant des documents d'archives, des observations indirectes et des entretiens avec des participants clés. Le premier article met l'accent sur la compréhension du phénomène de convergence des normes comptables en relation avec des tendances politiques et institutionnelles plus larges au moyen de divers mécanismes de diffusion de la théorie néo-institutionnelle. Ensuite, cette thèse souligne le rôle central des normalisateurs qui mobilisent des systèmes de sens pour faire converger les normes comptables. Le deuxième article se concentre sur les systèmes de sens concurrents auxquels se réfèrent les normalisateurs comptables, ainsi que les facteurs qui influencent leurs décisions collectives. Plus spécifiquement, il s’intéresse à l’ordre négocié (Strauss et al., 1963) qui prend forme sur la base de ces systèmes. Enfin, le troisième article étudie le processus par lequel les normalisateurs comptables convainquent les parties prenantes (et eux-mêmes) de la légitimité de leurs décisions par le biais des « économies de la grandeur » (Boltanski et Thévenot, 1991) et des mécanismes rhétoriques. Cette thèse contribue à développer par une étude multi-niveaux, nos connaissances sur les activités de convergence transnationale, en particulier celles qui visent à produire un ensemble commun de normes comptables, et comment ces normes évoluent en tenant compte du contexte, des acteurs et des institutions. / This dissertation explores the efforts of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to produce a common set of accounting standards accepted for worldwide market regulation. In doing so, it examines how a process of accounting (institutional) change - referred to as a convergence process - has evolved within the transnational accounting standard-setting space. This research investigates the role that institutions and politics play in the FASB-IASB convergence process, more broadly, as well as their role in the processes by which standard setters go about collective policy-making on one highly contested standard. With the accounting policy-making literature serving as a foundation tying together the works within this dissertation, I mobilize institutional and political perspectives to systematically explore the convergence of accounting standards through three empirical papers. Each of these studies focuses on standard-setting activities occurring between 2002 and 2011 and utilizes case study methods drawing on multiple data sources including archival documents, indirect observation and interviews with key informants. The first paper focuses on understanding the phenomenon of accounting convergence and its relationship to broader political and institutional trends through a variety of diffusionist mechanisms from neo-institutional theory. This dissertation then turns to the standard-setters themselves as focal actors and links these actors to the meaning systems they employ in the shaping of accounting convergence. The second paper focuses on competing meaning systems that standard setters adhere to and the factors that affect collective policy decisions. More specifically, it is interested in the negotiated order (Strauss et al. 1963) which takes shape on the basis of these factors. Finally, the third paper studies the process by which accounting standard setters persuade their public audience (and themselves) of the merits of their policy decisions by mobilizing orders of worth (Boltanski & Thévenot, ([1991], 2006) in their discourse. The primary contribution of this dissertation is to shed light, at multiple levels of analysis, on how transnational convergence activities, in particular those aimed at producing a common set of accounting standards, evolve in consideration of actors, institutions, and context.