This thesis analyses the Australian approach to taxation of goodwill and related intangibles. It asks the questions: 'Is the current Australian approach to taxation of goodwill coherent?'; and 'Could a different approach minimise any distortions?' The thesis identifies the increasing importance of goodwill and other intangible property in a modern information-based economy. It identifies benchmarks for a 'good' tax system ??? such as efficiency, simplicity, and equity. It emphasises the criteria of simplicity and efficiency but includes other criteria and specifically considers the issue of alignment of accounting and legal concepts. It concludes that the current misalignment makes it difficult for the tax system to deal with goodwill coherently. The thesis criticises the treatment of goodwill under various Australian taxes, including stamp duty; Goods and Services Tax; taxation of capital gains; and income tax. It specifically considers the treatment of intangible sources of goodwill and their relationship with goodwill itself. The discussion of income tax pays particular attention to the role of goodwill and other intangibles in international transfer pricing. The thesis draws conclusions about the treatment of goodwill in Australia and whether the Australian approach meets the benchmarks established at the outset. The thesis demonstrates that the current Australian approach leads, inter alia, to tax avoidance. The current approach also offends a number of other criteria of a 'good' system. The thesis considers the UK tax treatment of intangibles held by resident companies and considers this model for Australia. It also considers the abandoned 'Tax Value Method' previously proposed for Australia. From this and other material, it suggests possible new directions and an alternative approach to taxing goodwill in Australia. These include a consistent and coherent definition of goodwill for tax that is compatible with law and accounting. The thesis also urges the development of a consistent approach to taxing goodwill at both the state and federal levels; and suggests greater reliance on the existence of goodwill as a means to establish jurisdiction to impose tax in international tax situations.

Universiẗat, Diss.--Zugl.: @Tübingen, 2007.

In the economy intangible assets have become more and more important. Financial standards have evolved in order to capture this change and to be relevant. IFRS are international financial accounting standards with the goal to provide investors relevant information in their investment decision process.  Since 2005, all listed companies in the European Union have to implement the IFRS 3; Forcing companies to write off their goodwill instead of amortizing it. The goal of this measure was to provide investors more information about management’s investment decisions. Beside, companies proceed to firm acquisitions in order to gain a competitive advantage. Such events are important in companies’ life and are impacting the potential value creation. Out of that reason, investors are reacting to acquisition announcements. Moreover, the market reacts to goodwill impairments.   The purpose of this research was to examine to what extent the market reaction of an acquisition announcement can predict goodwill impairment in the two following years. This study was conducted using a quantitative method; focusing on aspects of the financial statements of 43 companies from the Nordic countries that acquired companies in the G20 countries. A Spearman’s correlation, logistic and linear regressions were pursued in order to observe the correlation and the strength of the relationship between goodwill impairment and the market reaction.   The findings imply that the market reaction can predict goodwill impairment in the first year after an acquisition in case of positive market reaction. Additional to that, it can also predict the amount of impairment in the second year, but not whether the impairment is happening. Also, there is a correlation between the first and second year goodwill impairments. However, the results of this research indicate that neither the industry, financial or non-financial, nor the deal value can predict goodwill impairment after an acquisition.

Made available in DSpace on 2014-06-11T19:26:19Z (GMT). No. of bitstreams: 0 Previous issue date: 2008-04-18Bitstream added on 2014-06-13T20:34:11Z : No. of bitstreams: 1 souza_hjs_me_mar.pdf: 427980 bytes, checksum: a42bbaabdb2f039edea37cf64bff8501 (MD5) / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / A Fundamentação da metafísica dos costumes tem por finalidade encontrar o princípio supremo da moralidade. Segundo Kant, somente a razão é suficientemente capaz de fornecer, totalmente a priori, o princípio incondicionado da moralidade. Surge, porém, um problema: por que é que devemos nos submeter à lei moral? O que é capaz de motivar o homem a agir conforme o imperativo categórico e, portanto, moralmente? O presente trabalho pretende examinar, a partir dos apontamentos realizados por Kant, como pode o homem agir motivado pela lei, motivação esta necessária para que a moral se estabeleça. / The Groundwork Metaphysic of Morals is to find the supreme principle of morality. According to Kant, the only reason is sufficiently capable of providing, quite a priori, the principle unconditional of morality. Appears, however, a problem: why should we submit to the moral law? What is able to motivate a man to act as the categorical imperative and therefore morally? This study seeks to examine, from notes made by Kant, as can the man acts motivated by the law, the motivation necessary for the moral is established.

Goodwill uppstår vid rörelseförvärv och utgör idag en stor andel av totala tillgångar på Stockholmsbörsen. Goodwill har i tidigare forskning funnits vara en del av resultatmanipuleringsstrategin big bath, vilket innebär att ledningen medelst strategiska nedskrivningar eller avsättningar sänker resultatet för att erhålla privat vinning. Strategin har framförallt funnits förekomma i samband med vd-byte. Om ett företag jämfört med andra företag har presterat sämre under nedskrivningsåret vid vd-bytet och de två åren innan anses nedskrivningen vara motiverad. Genom att undersöka om företag med en nytillträdd vd som genomfört stora goodwillnedskrivningar har presterat sämre under nedskrivningsåret och de två åren innan vd-bytet jämfört med företag som haft ett vd-byte men inte gjort goodwillnedskrivningar ämnar studien utröna huruvida det finns indikationer på att big bath förekommer på Stockholmsbörsen. Studien fann att goodwillnedskrivningarna ej indikerade big bath.

O conhecimento constitui bem jurídico, passível de tutela tanto sob a ótica da criação - por meio dos direitos de propriedade intelectual - quanto sob a ótica da sua utilidade econômica - juntamente com os demais elementos intangíveis do estabelecimento empresarial. Questão amplamente debatida e objeto de controvérsia é a destinação desses bens intangíveis por ocasião do afastamento de um sócio da sociedade empresária. Discute-se se esses bens devem integrar a base de cálculo dos haveres do sócio afastado. Neste trabalho, pretende-se oferecer resposta a essa indagação. Para tanto, analisaremos de que maneira são formadas as dimensões patrimoniais da sociedade - capital social, patrimônio líquido e estabelecimento -, as diversas hipóteses de extinção parcial do vínculo societário, o conteúdo econômico dos elementos intangíveis integrantes do estabelecimento e a natureza jurídica do eventual pagamento por esses bens ao sócio que se desliga da sociedade. / Knowledge is legally protected both as a creation - by means of intellectual property rights - and as na economic asset - jointly with the other intangible components of the goodwill. A highly controversial topic concerning this issue is the treatment given to these intangible assets when a shareholder or partner decides to withdraw from the company. Should such intangible assets be included in the appraisal rights of the withdrawing party? This study aims at attempting to answer this question by analyzing the development of the equity dimensions of a company; the different reasons for a partner and/or shareholder to withdraw; the economic features of intangible assets; and the legal nature of a possible payment made to the withdrawing partner and/or shareholder in consideration of said intangible assets.

Baserat på ett agentteoretiskt perspektiv förväntas en verkställande direktör, under högt handlings- utrymme, agera opportunistiskt och inte dra sig för att fiffla med redovisningen. Tidigare forskning har studerat hur den verkställande direktörens egenskaper och karaktärsdrag påverkar redovisningsval med avseende på nedskrivningar av goodwill. Som en avgörande faktor för den verkställande direktörens förmåga att fatta beslut har handlingsutrymmet i tidigare studier visat sig vara av stor betydelse. Det finns välkända incidenter såsom Worldcomskandalen, där ledande befattningshavare missbrukat handlingsutrymmet och utformat redovisningen opportunistiskt på aktieägarnas bekostnad. Denna studie kombinerar den verkställande direktörens egenskaper och karaktärsdrag (Attribut) med kontextuellt- och organisatoriskt handlingsutrymme, i syfte att förklara hur den verkställande direktörens attribut påverkar ett bolags goodwillnedskrivningar. För att uppfylla syftet med studien används en deduktiv ansats med en kvantitativ forskningsdesign, baserad på arkivdata i form av årsredovisningar. Resultaten av studien indikerar på att den verkställande direktörens attribut påverkar storleken och frekvensen av företagets goodwillnedskrivningar. Närmare bestämt leder ett byte av verkställande direktör, hög bonus i förhållande till lön och hög medial uppmärksamhet till större och mer frekventa goodwillnedskrivningar. Vidare finns det indikationer på att det kontextuella handlingsutrymmet har en modererande effekt på styrkan av sambandet mellan den verkställande direktörens kompensation och nedskrivningar av goodwill. Till författarnas vetskap är detta den första studien, som i en svensk kontext analyserar påverkan av VD attribut på goodwillnedskrivningar, betingat av kontextuellt- och organisatoriskt handlingsutrymme. Studien bidrar således till att belysa vikten av att styrelsen och ägarna tillför rätt kontrollmekanismer för att begränsa den verkställande direktörens opportunistiska beteende.

Title - To what extent do firms comply with IAS 36?: A study based on firms listed on Nasdaq OMX Stockholm.Level - Master thesis in business administration.Authors - Stina Skyttner and Nora Wennertorp.Supervisors - Arne Fagerström and Saeid Homayoun.Date - 2 June 2017.Purpose - The overall aim of this paper is to build upon earlier research by examining to what extent firms listed on Nasdaq OMX Stockholm comply with disclosure requirements of IAS 36 paragraph 134. The second aim is to examine what variables affect the compliance level of these firms.Methodology - A sample of 90 firm’s annual reports and disclosure notes are surveyed from 2006 to 2016, and aggregated compliance scores are determined and analysed using quantitative statistical methods. The dependent variable is compliance with disclosure requirements of IAS 36 paragraph 134. The independent variables are size, industry, audit firm, leverage ratio, profitability ratio, learning, and the 2008 financial crisis.Findings - The results show that firm’s compliance levels with IAS 36 paragraph 134 have increased from 2006 to 2016, but they are still low compared to what the standard requires. There is not a significant increase in compliance levels during the crisis, therefore the 2008 financial crisis cannot be seen as a determinant factor of compliance with the disclosure requirements. The results show that larger firms and firms with higher leverage- and profitability ratios comply to a greater extent with the standard. Further, the type of industry in which the firm operates in affected the compliance level.Keywords - Impairment testing of Goodwill, IAS 36 paragraph 134, Compliance, Financial Reporting.

Since year 2005 all Nordic companies on a regulated stock market needs to present their accounts according to the IFRS-standards by IASB. This has affected the management of goodwill that now needs to be exposed for an impairment test every year.  This paper handles the impairment of goodwill in Nordic companies to test their ability to follow IAS 36 in the IFRS-standards and neutrality in The Conceptual Framework for Financial Reporting. Goodwill was earlier exposed to linear depreciation according to the national rules, while nowadays it needs to be impaired every time it’s warranted according to the calculated future cash flow. This creates an opportunity for companies to affect the accounts, an opportunity that can be explained by the Agent theory and Big Bath. How companies handle this change in accounting is tested to see if there is any relationship between goodwill impairments and future cash flow. Earlier studies have been made on the American market by Jarva (2009) and his model to calculate future cash flow is used in this paper.

Práce je zaměřena na problematiku fúzí. Přináší stručný pohled do jednotlivých oblastí, do kterých fúze zasahují. Jedná se zejména o účetní, daňovou a právní stránku, bez kterých nemůže být proces fúze kompletní. Prioritou zpracování bylo řešení v České republice, část práce je také věnována fúzím dle IAS/IFRS a souvislostem s nově příchozím zákonem o přeměnách obchodních společností a družstev.