本研究探討我國導入一系列公平價值會計之市場反應，本文分別從市場景氣狀況以及財報品質、盈餘管理及公司治理四個面向檢視資本市場之反應。實證分析顯示，由於公平價值會計的順循環效果，於市場景氣較佳時其異常報酬較高，反之則較低，而金融業順循環效果比一般產業來的強，而財報品質愈差、盈餘管理可能性愈高、公司治理機制愈弱的企業，股票市場對此事件的正向反應愈強，其原因可能為公平價值會計導入將有助於提升財報品質、降低盈餘管理的機會，並減少內外部人資訊不對稱的情況。 本研究結果顯示公平價值會計的採行將有助於財報透明度的提升，避免企業財報隱藏其財報增減值的部分，對投資者是具有效益的，但同時，公平價值會計將財報資訊與市場景氣連結，將造成其財報數值的波動加劇。 / This research from four aspects, business cycle, financial reporting quality, earnings management, and corporate governance, examines that Taiwan stock market reaction to the seventeen events associated with adoption of Fair Value Accounting (FVA). The empirical results reveal that due to Fair Value Accounting’s procyclical effect, when economic is booming the market tends to positively react with FVA and banking industry displays a higher procyclical effect than other industries. The study also finds that with FVA investors tend to have positive reaction on firms’ pre-adoption information with lower financial quality, higher earnings management possibility and weaker corporate governance. The findings suggest that the FVA adaption increased the quality of financial reporting, reduced earning management and decreased information asymmetry. In the meantime, the FVA links financial reporting with business cycle which might aggravate the financial reporting’s fluctuation.

本論文之研究目的係驗證銀行管理當局是透過盈餘平穩化，增加盈餘對於未來盈餘的訊息，抑或是操控會計數字從而降低盈餘品質。本文採用兩種指標衡量盈餘平穩化：裁決性的貸款損失準備與公允價值第二等級與第三等級輸入值。以美國銀行作為本論文的樣本標的，經由實證結果發現，盈餘平穩化程度較高的銀行其股價能反映更多未來盈餘的資訊，顯示著平穩化程度會增加銀行當期盈餘對於未來盈餘的預測能力。除此之外，本文依照銀行規模與業務特性，分別比較大小銀行;商業銀行與儲蓄機構，個別探討盈餘平穩化和盈餘資訊性間的關聯。 / This paper investigates whether bank income smoothing is due to communication of future earnings or opportunism to garble accounting numbers. I adopt two measures of bank income smoothing, i.e., discretionary loan loss provision and Level 2&3 fair value inputs. Using a sample of U.S. banks, I find that higher-smoothing banks’ current stock prices capture more information about their future earnings to a larger extent than those of lower-smoothing banks. Moreover, I separate the bigger banks from the small banks and differentiate commercial banks from saving institutions to particularly investigate the association between income smoothing and earnings informativeness.

Professionell skepsis är en förutsättning för en fungerande revision och för att upprätthålla kvaliteten på revisionen krävs det av revisorerna att vara professionellt skeptiska. Det finns flera faktorer som påverkar hur revisorer kan upprätthålla kvaliteten på revisionen. Bland annat har den tidspress som revisorer utsätts för visat sig ha en negativ inverkan på revisionskvaliteten eftersom revisorer till följd av tidspress kan uppvisa dysfunktionella beteenden som kan innebära att de lägger ner mindre tid än vad som faktiskt behövs för att utföra en bra revision. Vidare finns det en utmaning för revisorer i de situationer där de ska granska verkliga värden om det inte finns några marknadspriser för tillgången eller skulden och redovisning till verkligt värde ska beräknas med hjälp av interna uppskattningar och beräkningar.Tidigare studier har undersökt hur tidspress och granskning av redovisning till verkligt värde påverkar revisionskvaliteten, men inte hur den professionella skepsisen påverkas av dessa två faktorer, trots att professionell skepsis är en förutsättning för en god revisionskvalitet. Tanken med denna undersökning är därför att beskriva och analysera hur revisorers professionella skepsis påverkas av dessa två faktorer. För att besvara studiens syfte skickades enkäter ut till totalt 3477 svenska kvalificerade revisorer varav 132 användbara svar inkom. Enkäten innehöll bakgrundsinformation om respondenten, frågor om revisorers professionella skepsis, granskning av redovisning till verkligt värde samt tidspress. Tillsammans utgjorde dessa basen för studiens analys och slutsats.Utifrån resultatet kan vi konstatera att revisorerna inte upplever särskilt stor tidspress utan tycker att tidsbudgetarna är relativt uppnåeliga trots att revisorerna till viss del agerar på ett dysfunktionellt sätt till följd av den tidspress som förekommer. Vidare pekar resultatet på att revisorer anser att de står inför en utmaning när det gäller granskning av redovisning till verkligt värde. Vi kan dra slutsatsen att varken tidspress eller granskning av redovisning till verkligt värde starkt påverkar revisorers professionella skepsis. Däremot visar resultatet ett svagt negativt samband mellan professionell skepsis och granskning av redovisning till verkligt värde. Den låga svarsfrekvensen på 3,8 procent gör det viktigt att påpeka att studiensslutsatser måste dras med stor försiktighet. / Professional skepticism is a prerequisite for a functioning audit and to maintain the quality of the audit it is required by the auditors to be professionally skeptical. There are several factors that affect how auditors can maintain the quality of the audit. Time budget pressure, for example, has shown to have a negative impact on audit quality since the auditors as a result of time budget pressure may show dysfunctional behavior. This means that auditors may spend less time that is actually required to perform a good audit. Furthermore, there is a challenge for the auditors in auditing fair value measurements if there is no active market for the asset or liability and when the fair value is calculated using internal estimates and calculations.Previous studies have examined how time pressure and audit of fair value measurements have affected audit quality, but not how auditors’ professional skepticism is directly affected by these two factors, despite the fact that professional skepticism is a prerequisite for a good audit quality. The aim of this study is to describe and analyze how the auditor's professionalskepticism is affected by these two selected factors.To answer the aim of the study questionnaires was sent out to a total of 3477 Swedish qualified auditors and we got 132 useful answers. The questionnaire included background information of the respondent, questions about auditor's professional skepticism, audit of fair value measurements and time budget pressure. These questions formed the base of the study's analysis and conclusionThe results indicate that auditors does not experience great time budget pressure but feel that the time budgets are relatively attainable although they still to a certain extent show dysfunctional behavior as a result of time budget pressure. The result also indicates that auditors feel that they face challenges when auditing fair value measurements. Further, we canbased on the result conclude that neither time budget pressure nor audit of fair value measurements strongly influence auditors’ professional skepticism. The results however, show a weak negative correlation between professional skepticism and audit of fair value measurements. The study's low response rate of 3.8 percent means that the results must be interpreted with great caution. / <p>160603</p>

This Thesis in first chapters would like to introduce its Reader watched firm. Next it can be found there explanations of Financial analysis Issue by common Aspect and this Principles and Legitimacys are used in Financial analysis of ZEPIKO, spol. s r.o. Acquired readings are valorizated and compare with requested readings and next this Endings are evaluated and formulated. In the end of this Thesis can be found some suggestions for improvements of its present condition and Also it is there possible suggestions for enhancements of Positions this Firm for the Future.

本研究探討台灣於2011年依據IAS 39進行34號公報之第三次修訂實施，採用已發生損失模型後的兩項議題：（1）放款壞帳費用之提列與盈餘波動性以及資本適足率波動性之關聯性，（2）以歷史成本評價之期末金額及以公允價值評價之期末金額，究竟何者對於未來之帳款沖銷與不良債權較具有關聯性。 實證結果顯示，自2011年採用已發生損失模型後盈餘波動性無顯著之變化，且壞帳費用對於盈餘波動性無解釋能力；而自2011年後資本適足率波動性亦無顯著變化，但壞帳費用對於資本適足率波動性有顯著的影響，顯示銀行明顯透過壞帳費用之提列進行資本管理而非盈餘管理。在未來信用損失預測之部分，以歷史成本評價之期末放款金額對於未來之帳款沖銷及不良債權有顯著的負相關，而以公允價值評價之期末放款金額對於未來之帳款沖銷及不良債權卻無解釋能力，可能係因未來帳款沖銷與未來不良債權之發生與放款之帳齡有顯著的關聯性，而與未來可收取之現金流量無顯著之相關。 / This study aims to investigate how Incurred Loss Model affects the recognition of loan loss provisions and the valuation of loans due to the third revision of SFAS No. 34 which was revised based on IAS 39 in 2011. For the recognition of loan loss provisions, it focuses on the relationship with earnings volatilities and capital adequacy volatilities, and for the valuation of loans, it specializes on whether credit loss predicting is related to historical cost accounting or fair value accounting. The result shows that, since the implementation of Incurred Loss Model in 2011, both the adoption of Incurred Loss Model and the loan loss provisions have no significant impact on earnings volatilities. For capital adequacy volatilities, implementing Incurred Loss Model has no effect on capital adequacy volatilities neither. However, the loan loss provisions since 2011 significantly enhance the volatilities of capital adequacy. It reveals that banks use loan loss provisions to manage capitals instead of earnings. For credit loss predicting, loans evaluated with historical cost accounting have significant negative relations with future charge-offs and non-performing loans while loans evaluated under fair value accounting do not have any explanation power. It may suggests that future charge-offs and non-performing loans are related to the aging of loans, but not the future payoffs of loans.

Recent corporate reporting history is well–known for its corporate failures and questionable accountancy practices, many of which caused the profession to be frowned upon. However, the splodge on the accounting profession?s reputation goes deeper than its corporate reporting failures. The scientific foundation thereof is also being questioned in academic circles. Even though accounting scholars have been trying to formulate foundational accounting theories, it has been the accounting regulators that have been more successful in promoting their versions of what accounting theory should be, which place a question mark on the legitimacy of current day accounting theory. This thesis aims to delve deeper into the foundational philosophies of accounting and its impact on the practice of accounting. With the current accounting globalisation efforts, the profession?s stewardship function is becoming less prominent in its promulgated standards, which in turn brings the focus on the many questionable ethical practices found in the profession. Even though the regulatory bodies require their members to commit themselves to professional codes of conduct, which entails competency, integrity, objectivity and confidentiality, the 1st article in this thesis claims that ethical conduct is more than mere adherence to rules and regulations. It is also about the image of not only the profession, but also accounting research and education. Accounting is broadly practised, researched and taught within its so–called conceptual framework, of which a key objective is to guide and inform accounting practice. The conceptual framework became the basis upon which accounting theory is based. However, many accounting scholars are openly critical of presenting accounting theory as a set of practical guidelines. The 2nd article in the thesis concludes that, from an academic perspective, accounting theory should be based on three quintessential guidelines. The first of which is its primary purpose of reporting on the historic economic events, secondly the provision of useable and comparable information about these events and finally, the facilitation of business decisions based on relevant and reliable information. In the above mentioned business decisions, the concept of value is often taken for granted and many accounting techniques? effectiveness is judged on how well it approximates an item?s value. The 3rd article argues that the multiple purposes for which accounting information is used complicates the issue of value, as reported by accounting. Two key conflicting valuation perspectives are the so–called decision–usefulness and true income perspectives. The current drive towards fair value accounting, as opposed to historic cost accounting, cast doubts on the reliability and relevance of accounting information. Even though it may be argued that value–based techniques are more relevant because it is a better reflection of the current business conditions, the mere subjective nature thereof and the accountant?s objective valuation skills make the true relevance of this information questionable. Furthermore, mixed model valuations found in financial statements makes cross–company information unreliable. Accountancy research of the past four decades focussed on the concept of user decision–usefulness. The user is also pre–eminent in the globalisation of accounting standards of the FASB and the IASB, where users are specified as the equity investors, lenders and capital providers. The 4th article acknowledges that although these user categories are important consumers of the financial data, there are other users which are also impacted by the financial information and the company?s operational performances. There are also concerns over accounting?s key assumptions, such as its quantification and predictive abilities, which are fundamental to the decision–usefulness objective. Furthermore, there are questions around how the regulators decided what information is suppose to be useful and what type of utility is being sought. In summary, the focus on the vocational aspects of accountancy stands in contrast to claims of accounting as an academic discipline in the social sciences. The reality is that the practices of the profession will probably always play a central role in what is taught at university level, and the regulators, as the final authority on accounting standards, will probably remain dictatorial in promulgating their versions of accounting theory. Yet, accounting and its wide spread impact on society, makes it a key discipline within the economical and management sciences. It is therefore essential for the resurrection of accounting as a social scientific discipline that there is a return to foundational accounting research that will prepare (and enable) prospective practitioners and academics to question the status quo and push back on accounting practices that are threatening to extinguish the flame of accounting scholarship. / Thesis (Ph.D. (Accounting))--North-West University, Potchefstroom Campus, 2011.

Recent corporate reporting history is well–known for its corporate failures and questionable accountancy practices, many of which caused the profession to be frowned upon. However, the splodge on the accounting profession?s reputation goes deeper than its corporate reporting failures. The scientific foundation thereof is also being questioned in academic circles. Even though accounting scholars have been trying to formulate foundational accounting theories, it has been the accounting regulators that have been more successful in promoting their versions of what accounting theory should be, which place a question mark on the legitimacy of current day accounting theory. This thesis aims to delve deeper into the foundational philosophies of accounting and its impact on the practice of accounting. With the current accounting globalisation efforts, the profession?s stewardship function is becoming less prominent in its promulgated standards, which in turn brings the focus on the many questionable ethical practices found in the profession. Even though the regulatory bodies require their members to commit themselves to professional codes of conduct, which entails competency, integrity, objectivity and confidentiality, the 1st article in this thesis claims that ethical conduct is more than mere adherence to rules and regulations. It is also about the image of not only the profession, but also accounting research and education. Accounting is broadly practised, researched and taught within its so–called conceptual framework, of which a key objective is to guide and inform accounting practice. The conceptual framework became the basis upon which accounting theory is based. However, many accounting scholars are openly critical of presenting accounting theory as a set of practical guidelines. The 2nd article in the thesis concludes that, from an academic perspective, accounting theory should be based on three quintessential guidelines. The first of which is its primary purpose of reporting on the historic economic events, secondly the provision of useable and comparable information about these events and finally, the facilitation of business decisions based on relevant and reliable information. In the above mentioned business decisions, the concept of value is often taken for granted and many accounting techniques? effectiveness is judged on how well it approximates an item?s value. The 3rd article argues that the multiple purposes for which accounting information is used complicates the issue of value, as reported by accounting. Two key conflicting valuation perspectives are the so–called decision–usefulness and true income perspectives. The current drive towards fair value accounting, as opposed to historic cost accounting, cast doubts on the reliability and relevance of accounting information. Even though it may be argued that value–based techniques are more relevant because it is a better reflection of the current business conditions, the mere subjective nature thereof and the accountant?s objective valuation skills make the true relevance of this information questionable. Furthermore, mixed model valuations found in financial statements makes cross–company information unreliable. Accountancy research of the past four decades focussed on the concept of user decision–usefulness. The user is also pre–eminent in the globalisation of accounting standards of the FASB and the IASB, where users are specified as the equity investors, lenders and capital providers. The 4th article acknowledges that although these user categories are important consumers of the financial data, there are other users which are also impacted by the financial information and the company?s operational performances. There are also concerns over accounting?s key assumptions, such as its quantification and predictive abilities, which are fundamental to the decision–usefulness objective. Furthermore, there are questions around how the regulators decided what information is suppose to be useful and what type of utility is being sought. In summary, the focus on the vocational aspects of accountancy stands in contrast to claims of accounting as an academic discipline in the social sciences. The reality is that the practices of the profession will probably always play a central role in what is taught at university level, and the regulators, as the final authority on accounting standards, will probably remain dictatorial in promulgating their versions of accounting theory. Yet, accounting and its wide spread impact on society, makes it a key discipline within the economical and management sciences. It is therefore essential for the resurrection of accounting as a social scientific discipline that there is a return to foundational accounting research that will prepare (and enable) prospective practitioners and academics to question the status quo and push back on accounting practices that are threatening to extinguish the flame of accounting scholarship. / Thesis (Ph.D. (Accounting))--North-West University, Potchefstroom Campus, 2011.

Reporting in terms of the principles of IAS 41, or equivalent, did not result in comparable financial results in the industry. This is mainly due to valuation challenges experienced and the significant costs of these valuations, contributing to the theoretical gap addressed in this study, where the cognitive theory was applied to determine how to improve the consistency, validity and reliability of the fair valuing of biological assets. The knowledge gap is a result of the inconsistent application of the requirements of IAS 41 which results in incomparable financial results which impairs the decision-making of the users of such information. The results of the study were analysed and contextualised to develop an application guideline to assist the financial statement compilers to present results to users that will enhance their decision-making. This guideline is the result of an investigation on the industry trend and standards on how to value, disclose and report on biological assets in the annual reports; an assessment of the valuation challenges experienced, the valuation factors considered and the frequency thereof; an analysis of the valuation inputs applied and a contextualisation of the various users’ expectations when these financial results are assessed. Such assessment included an inductive content analysis, further grounded theory contextualisation and grouping of the results into a guideline that was tested on various users to ensure the usefulness and validity thereof. The purpose of the study and the developed guideline is to determine how to improve the consistency, the validity and the reliability of the fair valuing of biological assets to derive at informing, comparable, decision-enhancing balances in a cost efficient manner when detailed information is presented. / Centre for Accounting Studies / D. Phil. (Accounting Sciences)

Fair value accounting of biological assets in the public sector was introduced with the adoption of the public sector specific accounting standard, Generally Recognised Accounting Practice (GRAP) 101. The public sector currently uses different bases of accounting: public entities and municipalities must use accrual accounting and apply the principles of GRAP, while government departments report on the modified cash basis. Furthermore, public entities do not consistently apply the requirements of GRAP 101. This lack of a uniform basis of accounting has a negative effect on the comparability of financial information. This study identified the challenges facing the public sector in the application of GRAP 101, specifically regarding the fair value accounting of biological assets. The successful implementation of GRAP 101 by a public entity, AsgiSA-EC, was used as a case study to clarify the fair value accounting challenges in the reporting of biological assets in the sector. / Business Management / M. Accounting Science

Fair value accounting of biological assets in the public sector was introduced with the adoption of the public sector specific accounting standard, Generally Recognised Accounting Practice (GRAP) 101. The public sector currently uses different bases of accounting: public entities and municipalities must use accrual accounting and apply the principles of GRAP, while government departments report on the modified cash basis. Furthermore, public entities do not consistently apply the requirements of GRAP 101. This lack of a uniform basis of accounting has a negative effect on the comparability of financial information. This study identified the challenges facing the public sector in the application of GRAP 101, specifically regarding the fair value accounting of biological assets. The successful implementation of GRAP 101 by a public entity, AsgiSA-EC, was used as a case study to clarify the fair value accounting challenges in the reporting of biological assets in the sector. / Business Management / M. Accounting Science