Author: Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 112
Book Description
The Effect of SFAS No. 141 and SFAS No. 142 on the Accuracy of Financial Analysts' Earnings Forecasts After Mergers
Author: Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 112
Book Description
The Effect of SFAS No. 141 on the Transparency of Business Combination Reporting
Author: Natalia M. MintchikPublisher:
ISBN:
Category :
Languages : en
Pages : 48
Book Description
This study examines the impact of SFAS No.141 on business combination reporting. Specifically, I predict smaller analysts' earnings forecast errors as a result of elimination of pooling and more informative disclosures for merging firms after the adoption of SFAS No. 141. I restrict my post-SFAS 141 sample to the initial year of SFAS 141 implementation. Such research design provides the unique opportunity to disentangle effects of SFAS No. 141 from simultaneously adopted SFAS No. 142 due to specific accounting treatment for goodwill impairment during this period. Overall, results from this study are consistent with expectations and provide evidence that SFAS No. 141 increased financial reporting transparency after mergers. However, this improvement in financial reporting transparency more likely follows from the extended disclosure requirements and the other required changes in purchase method than from the longly debated elimination of pooling.
Dissertation Abstracts International
Author: Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 648
Book Description
Designed to Win: Strategies for Building a Thriving Global Business
Author: Hiroaki YoshiharaPublisher: McGraw Hill Professional
ISBN: 0071467521
Category : Business & Economics
Languages : en
Pages : 288
Book Description
Featuring case studies and interviews with top executives at leading companies such as Toyota, Caterpillar, and IBM, this work includes practical advice on leadership, organizational structure, and the strategies necessary to support financial objectives.
The Accuracy of Analysts' Earnings Forecasts and SFAS No. 52
Author: Gordian A. NdubizoPublisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 22
Book Description
The Formation and Merits of SFAS 141 and 142
Author: Ryan Walton CunninghamPublisher:
ISBN:
Category : Accounting
Languages : en
Pages : 0
Book Description
The Financial Accounting Standards Board (FASB) recently released Statement of Financial Accounting Standards (SFAS) 141 and 142; these statements represent a major change in accounting for business combinations. SFAS 141 Business Communciations, eliminates the pooling-of-interest method, and SFAS 142 centers on the impairment process for goodwill and other intangible assests with indefinite lives. These new standards supersede Accounting Principles Board (APB) Opinion No. 16 and No. 17 respectively. Though the new standards have many weaknesses in the complex impairment method that was instituted to take the place of the amortization of goodwill and other intangible assets, there were many positive changes. Overall business combination information should be more comparable, transparent, and useful under SFAS 141 and 142. These standards may not be the last word on business combinations, but they are definitely a step in the right direction.
The Effect of SFAS No. 142 on the Ability of Goodwill Predicting Future Cash Flows
Author: Cheol LeePublisher:
ISBN:
Category :
Languages : en
Pages : 67
Book Description
This study investigates the effects of Statement of Financial Accounting Standard No. 142 (SFAS No. 142) on the ability of goodwill to predict future cash flows. SFAS No. 142 allows substantial unverified managerial discretion and leads to a significant magnitude of economic impact on financial statements, resulting in critical debates over the consequence of its adoption. I find that the ability of goodwill to predict future cash flows has improved since the FASB adopted SFAS No. 142. Further analysis documents that goodwill's explanatory power for future cash flows is enhanced in the partitioned sample with a high level of managerial discretion, but not in the sample with a low level of managerial discretion in the pre-SFAS No. 142 period. Overall, contrary to the position of critics of SFAS No. 142, results support the view taken by the FASB and proponents of SFAS No. 142: expanding managerial discretion with the adoption of SFAS No. 142 improves managers' ability to signal future cash flows and this positive effect is stronger than the offsetting the effect of opportunistic reporting.
The Implications of SFAS 141 and 142
Author: John M. KannerPublisher:
ISBN:
Category : Accounting
Languages : en
Pages : 166
Book Description
Financial Analysts' Forecasts and Stock Recommendations
Author: Sundaresh RamnathPublisher: Now Publishers Inc
ISBN: 1601981627
Category : Business & Economics
Languages : en
Pages : 125
Book Description
Financial Analysts' Forecasts and Stock Recommendations reviews research related to the role of financial analysts in the allocation of resources in capital markets. The authors provide an organized look at the literature, with particular attention to important questions that remain open for further research. They focus research related to analysts' decision processes and the usefulness of their forecasts and stock recommendations. Some of the major surveys were published in the early 1990's and since then no less than 250 papers related to financial analysts have appeared in the nine major research journals that we used to launch our review of the literature. The research has evolved from descriptions of the statistical properties of analysts' forecasts to investigations of the incentives and decision processes that give rise to those properties. However, in spite of this broader focus, much of analysts' decision processes and the market's mechanism of drawing a useful consensus from the combination of individual analysts' decisions remain hidden in a black box. What do we know about the relevant valuation metrics and the mechanism by which analysts and investors translate forecasts into present equity values? What do we know about the heuristics relied upon by analysts and the market and the appropriateness of their use? Financial Analysts' Forecasts and Stock Recommendations examines these and other questions and concludes by highlighting area for future research.
Author: Jongchan Park