Wyniki wyszukiwania - Biblioteka Nauki

1

The Effect of Financial Leverage on Real and Accrual-Based Earnings Management in Vietnamese Firms

100%

Khanh M. T. H. , Thu P. A.

|

tom 12

|

nr nr 4

299-312

EN

Our research examines the effect of leverage on the form and extent of earnings management in Vietnamese listed firms. We use panel data of 241 companies on Vietnam stock markets in the period from 2010 to 2016 (1687 firm-years) and conduct GMM regression. Four models are employed to estimate the level of discretional accruals and real earnings management. Our research finds a positive relationship between leverage and earnings management, which is consistent to "debt hypothesis". Furthermore, a preference for real earnings management over accrual-based earnings management is observed among highly leverage firms. The findings notice the substitution between these two forms of earnings management and reinforce full attention to both accrual-based earnings management and real activities manipulations rather than to separated earnings management strategy. (original abstract)

2

Zasada memoriału

100%

Gos W.

|

nr nr 10

3-10

XX

Opracowanie omawia istotę zasady memoriału i kwestie związane z jej stosowaniem. (fragment tekstu)

3

The Relationship Between Accrual-Based Earnings Management and Real Earnings Management: Reference to the Polish Capital Market

84%

Comporek M.

|

nr vol. 20, iss. 2

66-81

EN

Research background: The literature on the subject matter emphasizes the lack of empirical research on the relationships between accrual-based earnings management (AEM) and real earnings management (REM), while studies conducted so far are characterized by highly ambiguous results. Purpose: The main aim of the paper is to present the results of empirical research on the relationships between the AEM and REM practices used to create financial results in industrial public companies listed on the WSE. Research methodology: The research sample concerns 72 listed companies whose shares were traded on the Warsaw Stock Exchange (WSE) for a minimum 13 years in the adopted reference period of 2003-2017. The estimation of AEM and REM practices was made by using: the Jones model, the Kang-Sivaramakrishnan model and the Roychowdhury methodology. Results: The empirical results allowed showing the existence of a statistically significant, negative relationship between discretionary accruals and the abnormal level of an operational cash flow indicator, as well as between discretionary accruals and the total REM indicator. An in-depth cross-sectional analysis showed the existence of significantly differentiated relationships between the studied variables in individual branches of industry. Novelty: Research on the relationship between AEM and REM practices in the context of the Polish capital market has not been carried out so far, hence it can be considered a new research area in which there is a justified need to deepen theoretical and empirical research on the EM phenomenon. (original abstract)

4

Standaryzacja rachunkowości budżetowej

84%

Wakuła M.

|

2016

|

nr nr 2 (80) Cz.2 Rachunkowość w zarządzaniu jednostkami gospodarczymi

235-241

XX

Cel - próba wskazania uwarunkowań standaryzacji rachunkowości sektora publicznego w Polsce i UE oraz korzyści płynących z wdrożenia regulacji międzynarodowych. Metodologia badania - analiza literatury oraz aktów prawnych dotyczących Międzynarodowych Standardów Sprawozdawczości Finansowej, Międzynarodowych Standardów Rachunkowości Sektora Publicznego. Wynik - Międzynarodowe Standardy Rachunkowości Sektora Publicznego w znacznym stopniu przyczyniłyby się do generowania przez system rachunkowości memoriałowej informacji porównywalnych zarówno na szczeblu międzynarodowym jak i krajowym. Oryginalność/Wartość - analiza wykazała, że w Polsce istnieją przesłanki wprowadzenia standaryzacji rachunkowości jednak nie ma akceptacji przez organy rządzące na wprowadzenie Międzynarodowych Standardów Rachunkowości Sektora Publicznego. (abstrakt oryginalny)

EN

Purpose - an attempt to determine the conditioning of accounting standardization of the public sector in Poland as well as benefits from implementing international regulations. Design/Methodology/Approach - the analysis of literature and legal acts concerning International Financial Reporting Standard, International Public Sector Accounting Standards. Findings - International Public Sector Accounting Standards would significantly contribute to generating accrual information by the accounting system, which would be comparable at the domestic and international level. Originality/Value - the analysis showed that there are conditions for implementing accounting standards in Poland, however, the introduction of International Public Sector Accounting Standards is not accepted by governing authorities. (original abstract)

5

Model implementacji rachunkowości memoriałowej w sektorze finansów publicznych

84%

Zysnarska A.

|

nr nr 4

105-116

XX

Zaprezentowano Model Fundamentalnych Wymagań dla Implementacji Rachunkowości Memoriałowej w Sektorze Publicznym. Przedstawiono modelowe czynniki, gwarantujące pomyśle przeprowadzenie reformy rachunkowości w sektorze rządowym.

EN

The present article deals with the reforms of budgeting and accounting systems in the budgetary sector, which in many countries were caused by new approach to the management in the sector. The reforms initiated research, which was aimed at guaranteeing successful implementation of the accrual budgeting and accounting model in the public sector. Such a model has been elaborated. It is known as the Basic Requirements Model for Successful Implementation of Accrual Accounting in the Public Sector, or BRM. It is based on the assumption that the success of the reforming process is determined by the following factors: changes in management, political and bureaucracy support, professional and academic support, communication strategy, willingness to change, consultations and co-ordination with government entities, budgeting of implementation costs, considering specific accounting issues relevant for the public sector, adequate technology capability of the information system. (original abstract)

6

Wiarygodność sprawozdań finansowych wobec aktywnego kształtowania wyniku finansowego

84%

Wójtowicz P.

|

nr nr 193

207

XX

Niniejsza monografia jest próbą całościowego spojrzenia na problematykę wiążącą się ze zjawiskiem zwanym w anglojęzycznej literaturze earnings management co tłumaczy się na język polski jako „kształtowanie wyniku finansowego”. W pracy przyjęto, że zadaniem rachunkowości w jednostkach gospodarczych jest najogólniej rzetelna i jasna prezentacja sytuacji majątkowej, finansowej i wyniku finansowego jednostki gospodarczej, a więc jej zdolności do generowania strumienia korzyści. (fragment tekstu)

EN

The following paper looks at earnings management holistically, and includes both accounting and the economic aspects of this issue. Managers are responsible for financial statements of a business unit and the essence of earnings management is their intentional influence on a value of periodic income. Since income is measured on the accrual basis, managers have to make estimates and use private information. This property of income makes it subject to the manager's discretion. The majority of researchers of this issue are critical of earnings management, suggesting it is something akin to fraud that public companies perpetrate to deceive stakeholders, mainly investors. It seems they forget that the use of estimates is an essential part of the preparation of financial statements and does not undermine their reliability. Furthermore, from the ontological and epistemological points of view, the true value of income exists but is unknown in practice. If the true value were known, accounting systems would not be necessary. The main hypothesis of the paper is that so-called earnings management is a natural and inevitable element of financial statements as long as we assume accrual accounting is used. This property of accounting systems involves of course moral hazards, but latitude in choosing accounting solutions is a necessary condition if a true and fair view of the financial position, performance and changes in financial position of a business unit is to be formulated. Only income ex ante can play the role of guide for prudent conduct while running a business, but this income cannot be measured, only estimated. Income ex post can be, at best, used to estimate income ex ante. Decision usefulness of information per se is subjective and hence cannot be the only criterion used when constructing an accounting system. A necessary but not entirely sufficient condition for determining usefulness is reliability, which is understood as the fair presentation of the state of affairs of a business unit. This concept is rooted in the correspondence theory of truth. Fair presentation cannot, however, be attained in a rules-based accounting system. The only means to this desired result is the adoption of a principles-based accounting system. Since it is impossible to estimate income "neutrally", value disclosed will always be affected by managers' personal knowledge and experience and is ultimately the result of their estimates. Eliminating earnings management, a move expected by some scholars and practitioners, would lead to the total collapse of financial reporting systems. Furthermore, in a clean surplus accounting system, the laws of income conservation guarantee its value against creation from nothing. Earnings management can provide some benefits to managers only for short periods due to the inefficiency and imperfectness of capital markets. Analysis of the scale of earnings management on the Polish capital market leads to the rough conclusion that managers of companies listed on the Warsaw Stock Exchange manage earnings to an extent similar to their foreign counterparts. The research sample comprised 3,325 observations from 482 companies from 1995 (opening balance) to 2007 (closing balance). Specifically, in cross-section distributions of earnings, unusually low frequencies of small losses were found, as well as unusually high frequencies of small positive income. Earnings management to avoid losses is a pervasive phenomenon, especially when environmental conditions become difficult. The magnitude of such earnings management was greater than in the European countries looked at as a point of comparison. This result confirms the theoretical conclusion that a rules-based accounting system does not protect stakeholders from earnings management. On the other hand, income smoothing occurred much less frequently than in other countries. This is so perhaps because Polish managers want above all to avoid losses; it is also possible that the Warsaw Stock Exchange (reopened in 1991 after over 50 years of dormancy) is too young too generate extra premiums from a long string of growing values on yearly income. Surprisingly, the use of IERS in Poland, which formulates the principles-based accounting system, caused earnings management to grow. Such a system is considered strange by the Polish business culture. For many years the Polish accounting system, introduced by means of law, was very oppressive and closely related to tax law, even under the Accounting Act. IFRS came into force due to an administrative decision taken during Poland's European integration. It is assumed that the observed growth of the range of earnings management is caused by the natural reaction of the managers taking advantage of the wide range of freedom ensured by IFRS. The last result was obtained on the basis of a relatively small sample (577 observations) comprising financial statements from the fiscal years 2005-2007. The conducted analysis leaves room for further research. The first question to be taken up concerns real activity management. It is doubtful that it can be identified and measured using methods similar to those used in accrual-based earnings management. The second question concerns earnings management in privately held companies, which is also a sound approach, but the identity of the owner and manager enables efficient communication through private channels. (original abstract)

7

Wpływ zmian w finansach publicznych na zasady rachunkowości jednostek sfery budżetowej

67%

Maćkowiak E.

|

nr nr 164 Transformacja polskiej rachunkowości na tle rozwoju rachunkowości międzynarodowej

86-96

XX

Reforma finansów publicznych spowodowała wiele zmian w rachunkowości jednostek sfery budżetowej. Została znowelizowana ustawa o finansach publicznych, która w pewnym stopniu narzucała zasady rachunkowości. Nowe rozporządzenie Ministra Finansów z dnia 5 lipca 2010 roku w sprawie szczegółowych zasad rachunkowości oraz planów kont dla budżetu państwa, budżetów jednostek samorządu terytorialnego, jednostek budżetowych, samorządowych zakładów budżetowych, państwowych funduszy celowych oraz państwowych jednostek budżetowych mających siedzibę poza granicami RP, zwane dalej rozporządzeniem, zbliża rachunkowość jednostek sektora finansów publicznych do rachunkowości jednostek prywatnych. Zmiany dotyczą zarówno ujęcia środków europejskich, planów kont, jak i zmian w zakresie ujęcia środków trwałych, pokrycia amortyzacji, pewnych metod wyceny składników majątku obrotowego, czy też ewidencji naliczonych odsetek1. Celem artykułu jest zaprezentowanie zmian, jakie zachodzą w rachunkowości budżetowej, oraz wskazanie tendencji światowych w zakresie odejścia od zasady kasowej na rzecz zasady memoriałowej. (fragment tekstu)

EN

The amendment to the Act on public finance and the new regulation on the accounting rules and on charts of accounts for budgetary sphere entities has introduced many changes in budgetary accounting. These changes are designer to align the budgetary accounting tu rulet that Apple to the unit of the private sphere. By analyzing worlds' trends in budgetary accounting should be observed the tendency, which aims to move awal from cash to accrual rulet. Budget execution in terms of accrual accounting principle will cause it adopts characteristics presented by the profit and loss statement. (original abstract)