Song Yingkun. / Thesis submitted in: December 1999. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (leaves 31-34). / Abstracts in English and Chinese.

Studien studerar intäktsredovisningen i idrottens elitverksamhet. Studien är inriktad mot ishockeyns Elitserie och fotbollens Allsvenska. Syftet med studien är att undersöka vilka problem som kan uppstå i intäktsredovisningen och förklara dem. Om problem uppkommer önskade undersökningen ta reda på om ett utvecklande av avtalen skulle kunna vara en lösning. Anledningen till detta val härstammar från Borussia Dortmund och deras problem med att intäktsredovisa ett sponsoravtal som sträckte sig över fem år. De valde att redovisa hela summan i början av kontraktstiden vilket är fel, det borde skett en periodisering över hela kontraktstiden. Idrotten har gått från att vara ett allmänt nöje till att mer och mer likna rent företagande, i alla fall på elitnivå. Revisionsbyrån PwC har utvecklat ett dokument för att underlätta redovisningen av intäkter för underhållningsbranschen då kommersiella avtalet tenderar att vara väldigt komplicerade. För att besvara studiens syfte har telefonintervjuer och mejlkonversationer förekommit med föreningarnas ekonomichefer samt redovisningsansvariga. Det resulterade i totalt åtta intervjuer, fyra från ishockeyns Elitserie och fyra från fotbollens Allsvenska. För att komplettera har årsredovisningar från föreningarna granskats med fokus på förvaltningsberättelse, resultaträkningen samt de noter som behandlar intäkter. De intäkter som valts att undersöka är sponsor- och reklamintäkter, tv-intäkter, biljetter och en liten del merchandise. Resultatet visar på att föreningarna inte anser sig ha några problem med intäktsredovisningen och skulle därför inte behöva någon utveckling av sina avtal. Däremot visade undersökningen att en förening kan hantera erkännandet av sina intäkter på olika sätt. Det finns ingen konsekvens i hur intäkterna tas upp. I vissa fall sker det vid fakturering, ibland vid betalning eller när prestationen är utförd. Ibland sker periodisering men oftast inte, förutom vid de tillfällen då betalningen erhålls under fel år. Detta är dock inget problem då föreningarna måste, både enligt elitlicensen och eftersom att de följer bokföringsmässiga grunder, följa sitt räkenskapsår.

In 1988 the New South Wales (NSW) Government was the first in Australia, and amongst the first in the world, to commit to implement accrual accounting for its General Government Sector. Subsequently, accrual accounting has been implemented by numerous governments, including all Australian governments. This thesis examines why the NSW Government decided to implement accrual accounting and the impact of this accounting change on decision making within a General Government Sector organisation. The historical account is derived from a combination of archival and oral data sources whilst an organisational learning theoretical frame is used in a single-site case study to understand the impact of accrual accounting on managerial decision making. The history of the NSW Government adoption of accrual accounting is characterised by five notable features. First, the whole-of-government initiative was implemented with remarkable speed. Second, the change was aided by the actions of an epistemic community, in which private sector consultants were most active. Third, the change was justified through expected improvements in accountability and management. Fourth, a period of resistance to the change was followed by an absence of critical discussion on the implications of the change as forces supportive of the change synergistically combined. Fifth, the change is explained by mimetic forces that initially coalesced around phantom images, presented by consultants, and subsequently recognised self-interest as an integral part of the change to accrual accounting. The impact of accrual accounting on management decision-making at an organisational level from has been mixed. Information acquisition has expanded in that new sets of accounting data are collected. However, information distribution has been unchanged by accrual accounting whilst information interpretation only marginally changed at a top management level with no discernible change at operational levels. Organisational memory has been altered by accrual accounting in that additional accounting skills and information are now held. However, use of that organisational memory is severely impeded by organisational objectives and constraints that effectively render accrual accounting information irrelevant to public sector managers’ concerns. Policy implications arising from this project are that an alternative model of accrual accounting is required together with the dual recognition that centrally imposed change may produce unpredicted change at an operational agency level and that accounting change needs to be matched to organisational characteristics. Additionally, improvements in asset management, as sought by advocates of accrual accounting, could have been delivered by non-accounting means and there is little prospect for improved managerial decision-making from the current model of accrual accounting. / http://proxy.library.adelaide.edu.au/login?url= http://library.adelaide.edu.au/cgi-bin/Pwebrecon.cgi?BBID=1375063 / Thesis (Ph.D.) - University of Adelaide, Business School, 2009

In 1988 the New South Wales (NSW) Government was the first in Australia, and amongst the first in the world, to commit to implement accrual accounting for its General Government Sector. Subsequently, accrual accounting has been implemented by numerous governments, including all Australian governments. This thesis examines why the NSW Government decided to implement accrual accounting and the impact of this accounting change on decision making within a General Government Sector organisation. The historical account is derived from a combination of archival and oral data sources whilst an organisational learning theoretical frame is used in a single-site case study to understand the impact of accrual accounting on managerial decision making. The history of the NSW Government adoption of accrual accounting is characterised by five notable features. First, the whole-of-government initiative was implemented with remarkable speed. Second, the change was aided by the actions of an epistemic community, in which private sector consultants were most active. Third, the change was justified through expected improvements in accountability and management. Fourth, a period of resistance to the change was followed by an absence of critical discussion on the implications of the change as forces supportive of the change synergistically combined. Fifth, the change is explained by mimetic forces that initially coalesced around phantom images, presented by consultants, and subsequently recognised self-interest as an integral part of the change to accrual accounting. The impact of accrual accounting on management decision-making at an organisational level from has been mixed. Information acquisition has expanded in that new sets of accounting data are collected. However, information distribution has been unchanged by accrual accounting whilst information interpretation only marginally changed at a top management level with no discernible change at operational levels. Organisational memory has been altered by accrual accounting in that additional accounting skills and information are now held. However, use of that organisational memory is severely impeded by organisational objectives and constraints that effectively render accrual accounting information irrelevant to public sector managers’ concerns. Policy implications arising from this project are that an alternative model of accrual accounting is required together with the dual recognition that centrally imposed change may produce unpredicted change at an operational agency level and that accounting change needs to be matched to organisational characteristics. Additionally, improvements in asset management, as sought by advocates of accrual accounting, could have been delivered by non-accounting means and there is little prospect for improved managerial decision-making from the current model of accrual accounting. / http://proxy.library.adelaide.edu.au/login?url= http://library.adelaide.edu.au/cgi-bin/Pwebrecon.cgi?BBID=1375063 / Thesis (Ph.D.) - University of Adelaide, Business School, 2009

This dissertation analyzes the pricing and hedging problems for quanto range accrual note under the HJM-framework with Levy processes for instantaneous domestic and foreign forward interest rates. We consider both the effects of jump risks of interest rate and exchange rate on the pricing of the notes. The pricing formula for quanto double interest rate digital option and quanto contingent payoff option are first derived, then we apply the method proposed by Turnbull(1995) to duplicate the qaunto range accrual note by a combination of the quanto double interest rate digital option and the qunato contingent payoff option. Furthermore, using the pricing formulas derived in this paper, we obtain the hedging position for each issue of range accrual notes. In addition, by simulation and assuming the jump to be compound Poisson process, we further analyze the effects of jump risk and exchange rate risk on the coupons receivable in holding a range accrual note. / This dissertation analyzes the pricing and hedging problems for quanto range accrual note under the HJM-framework with Levy processes for instantaneous domestic and foreign forward interest rates. We consider both the effects of jump risks of interest rate and exchange rate on the pricing of the notes. The pricing formula for quanto double interest rate digital option and quanto contingent payoff option are first derived, then we apply the method proposed by Turnbull(1995) to duplicate the qaunto range accrual note by a combination of the quanto double interest rate digital option and the qunato contingent payoff option. Furthermore, using the pricing formulas derived in this paper, we obtain the hedging position for each issue of range accrual notes. In addition, by simulation and assuming the jump to be compound Poisson process, we further analyze the effects of jump risk and exchange rate risk on the coupons receivable in holding a range accrual note.

No description available.

The aim of the Thesis is to describe the environment of Public Sector Accounting in the Czech Republic, which is currently undergoing significant conceptual changes. The Thesis defines the "Accounting of the State Czech Republic" in terms of both the concept of public sector legislation and regulations, and also from the perspective of international context. An integral part is also survey, which aimed to identify public sector - accountants view of the ongoing reform.

The work compares various approaches to periodization the profit and loss, describes the role of "revenue principle in separating the procedures of revenues and expenses in each accounting period and its role in Anglo-Saxon and continental accounting concept. For comparison, the above models are selected as a model of continental (European) approach the German Commercial Code HGB and the Anglo-Saxon approach as a model summary of the standards in the United States usually referred to as US GAAP standards and, ultimately, IFRS, which are attempt to reconcile the above models. The work describes the theoretical base of these models with regard to the fundamentals, principles and accounting categories such as revenues, expenses, gains, losses, assets, liabilities and equity.

Faculty of Commerce School of Accountancy 9108665/p swartzg@soa.wits.ac.za / The debate on the determinants of firm value remains unresolved in finance research. This research report contributes to the debate by examining the validity of the Ohlson (1995) valuation model in South Africa. Using Johannesburg Securities Exchange data, this research report aims to identify whether the book value of assets, accounting (accrual) earnings, and abnormal cash dividends explain the behavior of South African share prices. The Ohlson (1995) model has been successfully tested in a number of recent studies (Collins, Pincus and Xie, 1999; Garrod and Rees, 1998; Collins, Maydew and Weiss, 1997; and Kothari and Zimmerman, 1995). This study attempts to extend this body of work in an emerging market context (South Africa), to determine whether the results obtained in developed markets also hold in an emerging market setting, where required rates of return are higher, liquidity is low, and capital is scarce. The research uses both cross sectional and panel data for 129 Johannesburg Securities Exchange listed companies over the 1992-2003 period to investigate the value relevance of the annual financial statements using the Ohlson (1995) model. Using cross-sectional data, the study indicates that the Ohlson (1995) model cannot be used for value prediction purposes, but does indicate that accrual accounting data is value relevant. However, using a panel data approach resulted in a statistically significant, robust, positive relationship for accounting earnings, book value of assets, and abnormal dividends in predicting firm value.

Doctoral thesis submitted to the University of the Witwatersrand, Faculty of Commerce, Law and Management in fulfilment of the requirements for the degree of the Doctor in Philosophy, December 2016 / Healy and Wahlen (1999:368) define earnings management as an event that “occurs when managers use judgement in financial reporting and in structuring transactions to alter financial reports to either mislead some stakeholders about the underlying economic performance of the company or to influence contractual outcomes that depend on reported accounting numbers.” Management’s intent to mislead users distinguishes accruals that signal managers’ inside information about future cash flows from earnings management which intends to misrepresent performance (Dechow and Skinner, 2000; Parfet, 2000). Earnings management is a very serious issue; if it is not detected it can result in large financial losses for investors and creditors. Earnings data is a fundamental input to valuing a firm’s shares and prospects. Erroneous assessments of future cash flows because of misleading information will result in invalid share valuations and incorrect lending decisions which can have negative consequences on capital markets. The severe negative consequences of earnings manipulation, if undetected, suggest that investors, auditors and regulatory bodies should be aware of the prevalence of earnings management in an economy, whether investors are able to detect and price suspected earnings management and the most efficient way to detect it. This thesis aims to answer two fundamental questions: Does earnings management exist in South Africa? Are investors in South Africa misled by earnings management? How to detect earnings manipulation is the predominant theme in earnings management literature. The majority of research has been conducted in advanced economies and has transformed from identifying discontinuities in earnings distributions and measuring discretionary accruals to sophisticated predictive models, such as the F-score (Dechow, Ge, Larson and Sloan, 2011). Yet, research into the subject is sparse in emerging markets and tends to replicate existing methodology. The objective of this thesis is to examine earnings management in the South African economy, with the specific aim of identifying a databank of suspected earnings management firms that can be used for further research. Because the number of firms that have been forced to restate earnings is small in this environment, this thesis resorts to identifying suspected earnings management firms using discontinuities in earnings distributions. South Africa is similar to other emerging economies in that it is characterised by concentrated ownership, weaker legal enforcement and a smaller stock exchange. The South African environment is dissimilar to emerging economies as the JSE is considered to be well regulated, accounting and auditing standards are world class and accounting transparency and disclosure are satisfactory (Leuz, Nanda, and Wysocki, 2003). The results of this thesis are relevant in an institutional and macroeconomic setting where incentives to manipulate earnings, enforcement, legal protection, rule of law and sample size may differ from those in developed economies. This thesis firstly, focuses on methodological issues that may be encountered by researchers in identifying discontinuities in earnings distributions in emerging economies and secondly, validates kernel density estimation, Lahr (2014), as a viable methodology to test for earnings management by comparing total accruals, discretionary accruals and working capital accruals between suspected earnings management and non-earnings management firms. Thirdly, deferred tax expense is considered as a predictor variable in place of discretionary accruals in detecting suspected earnings management firms. Finally, in order to investigate investors’ reaction to suspected earnings management this thesis investigates whether the market prices suspected earnings management firms differently from non-earnings management firms. Pre- selected researcher binwidths (Burgstahler and Dichev, 1997, Coulton, Taylor and Taylor, 2005, Glaum, Lichtblau, and Lindemann, 2004; Holland and Ramsay, 2003) prove to be unsuitable in this milieu. Consequently kernel density estimation Lahr (2014), which derives bandwidths from the empirical earnings distributions, is used to identify discontinuities and to concurrently investigate the effect of deflation on the location of discontinuities. Discontinuities are shown to exist in earnings levels and changes distributions and emerge around zero in earnings levels distributions where number of shares is the deflator. Two important results emerge from this analysis. Firstly, when kernel density estimation is used in levels distributions, there is evidence that deflating by market value of equity and total assets shifts the location of suspected earnings management firms to the second and third intervals to the right of zero. Scaling does not alter the location of suspected earnings management firms in earnings changes distributions. Secondly, in the earnings deflated by number of shares distribution there is evidence that the band of suspected earnings management firms contains the results of firms that have upwardly and downwardly manipulated earnings. The implication of these findings are that deflating by number of shares is probably the most efficient scalar and that if doubt exists, alternative deflators should, at least, be compared between profit and loss firms. In addition, in the presence of evidence of downwards earnings management, researchers should evaluate whether and how to identify firms that are suspected of having reduced earnings. Specifically in emerging market research, these results indicate that it is inappropriate to merely replicate distribution research based on researcher selected binwidths and that kernel density estimation is probably more efficient in identifying discontinuities as it gives researchers a much broader perspective on the location of discontinuities. Kernel density estimation is confirmed as a method to identify discontinuities in earnings levels and changes distributions by comparing total, discretionary and working capital accruals between suspected earnings management and non-earnings management firms. Evidence that discontinuities in earnings distributions may be attributable to earnings management activities is found where earnings levels and earnings changes are deflated by number of shares and market value of equity, both modified Jones and asymmetric BS discretionary accruals are significantly income increasing in suspected earnings management (EM) firms and income decreasing in non-EM firms. Scaling by total assets is not a suitable deflator in the South African context as it appears to affect the sign and statistical significance of the accruals metrics in the earnings levels before and after tax distributions. This result does not detract from the efficiency of kernel density estimation as it is attributable to the inefficiency of total accruals as a scalar in an emerging market environment. Furthermore, this research endorses Ball and Shivakumar’s (2006) (BS) finding that an asymmetric discretionary accruals model is more efficient in estimating discretionary accruals in all the distributions, irrespective of deflators. In addition, the results of this thesis show that, in an emerging economy, deferred tax is incrementally useful to modified- Jones and the asymmetric BS discretionary accruals in detecting earnings management. The implication of this result is useful to investors, auditors and regulators because deferred tax movements and its components are a visible and identifiable numbers in financial statements. Deferred tax expense can be used, instead of complicated discretionary accrual models, to identify evidence of earnings management. This means that the components of the deferred tax asset or liability accounts can be analysed to highlight unusual movements which may in turn, focus attention on unusual accruals. For researchers, this result has important implications. Kernel density estimation can be used to identify suspected earnings management firms which can be used to further research. The final chapter of this thesis explores whether investors price suspected earnings management and nonearnings management firms differently and finds that, in this South African sample, there is no difference in price levels or cumulative abnormal returns in suspected earnings management and non-earnings management firms. This result is in sharp contrast to Balsam, Bartov, and Marquardt (2002) and Baber, Shuping, and Sok-Hyong (2006) who report a negative association between unexpected discretionary accruals and cumulative abnormal returns and Keung, Lin, and Shih (2010) who find that investors react negatively to zero or small earnings surprises. To some extent the results of this section of the thesis supports the finding in Gavious (2007) that prices react to discretionary accruals only after the introduction of revised analysts’ forecasts.The finding in this thesis implies that investors in South Africa are unable to detect earnings management. This outcome should be viewed in the context of prior research that reports that the JSE may be inefficient (Bhana, 1995, 2005, 2010; Hoffman, 2012; Ward and Muller, 2012; Watson and Roussow, 2012) and may be attributed to the fact that there is no signal to investors that the quality of earnings may be questionable in the sample of suspected earnings management firms. All in all, the findings of this thesis indicate the existence of earnings management in listed companies in South Africa. / XL2018