Transparency of Accounting Information in Achieving Good Corporate Governance. True View and Fair Value PDF Download

Author: Mariana Man
Publisher: Infinite Study
ISBN:
Category :
Languages : en
Pages : 21

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Book Description
One of the key factors affecting the efficient use of resources, the increase of shareholders confidence in the managers of the company, the success in achieving objectives and economic efficiency is the system of corporate governance by which a company is managed and controlled.

Author: Finn Janning
Publisher: Springer Nature
ISBN: 3030357805
Category : Business & Economics
Languages : en
Pages : 168

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Book Description
Transparency is generally seen as a corporate priority and a central attribute for promoting business growth and social morality. From a philosophical perspective, society has experienced a gradual paradigm shift which intensified after the Second World War with the advent of the information era. As a fundamental part of an inescapable, hegemonic capitalist system and given the insistent emphasis on it as a moral imperative, transparency, this book avers, needs to be examined and challenged as to its true governance value in building a sustainable twenty-first century society. Rather than clinging to the fantasy of complete transparency as the only form of accountability, corporate governance is strengthened in this way by practicing true social responsibility, which emerges not from outward-looking compliance but from a deeper place in the corporate psyche through inward-looking contemplation and the development of moral maturity.

Author: Manuel Pedro Rodríguez Bolívar
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
A key factor to improve the financial accountability of governments is the existence of a set of generally accepted financial reporting of standards, such as IPSAS issued by the IFAC, which seek to enhance information transparency. This paper examines the capability of fair value accounting to improve, through financial transparency, government accountability, analysing the possible effect of the implementation of this measurement basis on understandability, comparability and timeliness - three qualitative characteristics linked to the relevance of financial reporting. This paper further considers whether the difficulties involved in achieving FV estimations could affect government financial accountability. The findings indicate that FVA implementation could enhance accountability by improving understandability, comparability and timeliness in governmental financial reporting, although the use of objective measures to estimate the FV of assets is fundamental. In addition, the type of assets and the existence of an active market are crucial to improving the comparability of financial statements under FVA, whereas improving timeliness could be limited by the possibility of estimating FV measures in-house.

Author: Victoria Krivogorsky
Publisher: Routledge
ISBN: 113680871X
Category : Business & Economics
Languages : en
Pages : 305

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Book Description
The growing internationalization of markets, the relaxation of constraints on capital flows between countries, and the creation of different economic unions -- the European Union in particular -- initiated the flow of capital, goods, and services across national borders, growth and diffusion of shareholding, and increased merger activity among the world’s largest stock exchanges. These changes have stimulated an interest in understanding developments in accounting and corporate governance in a newly qualitative way. Law, Corporate Governance, and Accounting sets out a framework for the analysis of institutional environments as the interconnected key tools of modern public corporations. Along with examining latest developments in the integrated formal structures for the formulation of international accounting principles, analyzing new accounting regulations and the extrapolating on the lessons that can be learned from the harmonization of accounting principles in Europe, this monograph provides the analyses of the convergence in both auditing and corporate governance as well as US perspective on IFRS adoption.

Author: Ulrich Steger
Publisher: John Wiley & Sons
ISBN: 0470773022
Category : Business & Economics
Languages : en
Pages : 308

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Book Description
This book present the value school of corporate governance, outlining a multitude of areas where corporate governance could add real worth, and showing how this can be put into effect. No “one-size-fits-all” model emerges as a solution. Rather, the insights in this book take idiosyncrasies and dynamics over time into consideration. They consider the main issues and their real causes, ownership settings, country settings and new developments in corporate governance research and practice. International focus places emphasises on typical patterns, predicament and solutions instead of national laws. Points are illustrated with in-depth case studies and highlighted learning nuggets. Alerts the reader to typical dilemmas and traps in attaining the goal of value creation, whilst also pointing to promising avenues forward.

Author: Ruth Ann McEwen
Publisher: Harriman House Limited
ISBN: 0857190229
Category : Business & Economics
Languages : en
Pages : 154

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Book Description
By January 2012 all major economies, apart from the US, will provide financial reports using International Financial Reporting Standards (IFRS). This book sets out the key differences between IFRS and US GAAP from a practitioner's perspective, although financial analysts will also benefit from the material presented. The financial crisis has been attributed to, among other things, a perceived lack of transparency in the financial markets. In general, transparency implies an ability to see the reported results of an entity's financial activities clearly and to use these results in making investment decisions. At question is the belief that transparency in financial reporting will lead to transparency in financial markets. Unfortunately, this link may be more subjective than most of us wish. Ruth Ann McEwen presents an analysis of reporting issues affecting transparency under IFRS, compared with US GAAP, and suggests areas of concern for preparers and users of financial reports. Providing an invaluable guide for all accountancy professionals, the book also contains a technical analysis of major accounting issues raised by convergence, and indicates areas of interest during initial adoption of IFRS by US entities. This authoritative book provides all the essential information required for advanced practitioners and analysts at this critical juncture.

Author: Committee on the Financial Aspects of Corporate Governance
Publisher:
ISBN:
Category : Benchmarking (Management)
Languages : en
Pages : 108

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Book Description

Author: Stephen Penman
Publisher: Columbia University Press
ISBN: 0231521855
Category : Business & Economics
Languages : en
Pages : 265

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Book Description
Accounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments. The book's novel approach shows that valuation and accounting are much the same: valuation is actually a matter of accounting for value. Laying aside many of the tools of modern finance the cost-of-capital, the CAPM, and discounted cash flow analysis Stephen Penman returns to the common-sense principles that have long guided fundamental investing: price is what you pay but value is what you get; the risk in investing is the risk of paying too much; anchor on what you know rather than speculation; and beware of paying too much for speculative growth. Penman puts these ideas in touch with the quantification supplied by accounting, producing practical tools for the intelligent investor. Accounting for value provides protection from paying too much for a stock and clues the investor in to the likely return from buying growth. Strikingly, the analysis finesses the need to calculate a "cost-of-capital," which often frustrates the application of modern valuation techniques. Accounting for value recasts "value" versus "growth" investing and explains such curiosities as why earnings-to-price and book-to-price ratios predict stock returns. By the end of the book, Penman has the intelligent investor thinking like an intelligent accountant, better equipped to handle the bubbles and crashes of our time. For accounting regulators, Penman also prescribes a formula for intelligent accounting reform, engaging with such controversial issues as fair value accounting.

Author: Michael D. Greenberg
Publisher:
ISBN: 9780833083661
Category : Fair value
Languages : en
Pages : 86

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Book Description
Fair value accounting (FVA) refers to the practice of updating the valuation of assets or securities on a regular basis, ideally by reference to current prices for similar assets or securities established in the context of a liquid market; historical cost accounting (HCA) instead records the value of an asset as the price at which it was originally purchased. In the wake of the 2008 financial crisis, conflicting arguments have been made about the contributions of valuation approaches in triggering the crisis. This report investigates and clarifies the relationship between these two accounting approaches and risks to the financial system. The authors examine the risk implications of FVA and HCA in the various situations in which each is used; assess the role that these accounting approaches have played historically in financial crises, including the 2008 financial crisis, the savings and loan crisis of the 1980s, and the less developed country debt crisis of the 1970s; and explore insights about systemic risk that can be gleaned from better understanding the accounting approaches. The authors find that FVA was probably not a primary driver of the 2008 crisis. Moreover, they suggest that neither FVA nor HCA is objectively "better" than the other. Instead, both accounting approaches can provide useful information for different contexts when applied rigorously, but when they are implemented poorly or when regulatory oversight is weak, both FVA and HCA can produce misleading information that can increase systemic risk across the financial sector. The authors conclude with a series of recommendations for how FVA and HCA, and the financial information that both methods generate, can be improved to better protect against systemic risk to the banking sector in the future.

Author: Mr.J. D. Craig
Publisher: International Monetary Fund
ISBN: 155775697X
Category : Business & Economics
Languages : en
Pages : 50

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Book Description
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.