Economic Consequences Of Fair Value Reclassifications Of Financial Assets According To Ias 39
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Economic Consequences Of Fair Value Reclassifications Of Financial Assets According To Ias 39
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Author : Meryem Önüt
language : en
Publisher: GRIN Verlag
Release Date : 2017-10-16
Economic Consequences Of Fair Value Reclassifications Of Financial Assets According To Ias 39 written by Meryem Önüt and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-16 with Business & Economics categories.
Master's Thesis from the year 2015 in the subject Business economics - Accounting and Taxes, grade: 2,0, University of Hohenheim, language: English, abstract: The purpose of this thesis is to provide direct empirical evidence on the use of the Amendment according to IAS 39 regarding the reclassification of financial instruments. It therefore reviews what happened when the accounting policies were switched from fair value accounting to historical accounting during the financial crisis in 2008. Using a sample of manually collected data from Western European banks, the thesis empiri-cally examines which banks used this reclassification option to deal with problematic financial assets and how these reclassification activities are correlated with other firm characteristics. Furthermore, the thesis shows the influence of the amount of assets in each fair value level on the fair value hierarchy and the impact of the banks’ regulatory capital during the height of the financial crises on the use of the relaxation option. The final aim is to analyze the economic consequences of this option and to determine how beneficial it is for the global financial system, considering that banks will again make use of this sort of permission in other, future crises. After the development of the International Financial Reporting Standards (IFRS) by the International Accounting Standard Board (IASB) in 2001, the European Union (EU) decided to unify the jurisdictions for all listed corporations and therefore decreed a mandatory adoption of IFRS in the EU. The EU reasoned that common ac-counting standards improve capital market efficiency and reduce information processing and auditing costs. However, the decisive reason for the adoption of IFRS was that today’s global economy requires global standards to ensure transparency, accountability and comparability of financial accounts. IFRS was preferred because of its focus on a fair value-based method of accounting compared to historical cost accounting, and the EU claimed that adopting IFRS would bring financial stability while serving the interests of the public.
Financial Instruments
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Author : International Accounting Standards Committee
language : en
Publisher:
Release Date : 2000
Financial Instruments written by International Accounting Standards Committee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Accounting categories.
The Change From Amortised Costs To Fair Value Regarding The International Financial Reporting Standards 9
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Author : Kristina Kraljevic
language : en
Publisher:
Release Date : 2020-07-29
The Change From Amortised Costs To Fair Value Regarding The International Financial Reporting Standards 9 written by Kristina Kraljevic and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-29 with categories.
Ias 39 Reclassification Choice And Analyst Earnings Forecast Properties
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Author : Chee Yeow Lim
language : en
Publisher:
Release Date : 2017
Ias 39 Reclassification Choice And Analyst Earnings Forecast Properties written by Chee Yeow Lim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
In October 2008, the International Accounting Standards Board amended IAS 39 to allow banks to retroactively reclassify financial assets that previously were measured at fair value to amortized cost. By reclassifying financial assets, a bank can potentially avoid recognizing the unrealized fair value losses and thereby increase its income and regulatory capital during a market downturn. We examine the implications of the reclassification decision by banks for the properties of financial analyst earnings forecasts during 2008-2009, when economic conditions were highly volatile. We find that the reclassification choice during the financial crisis reduced analyst forecast accuracy and increased forecast dispersion. We also find that the observed decline in analyst forecasting ability is limited to the year of adoption when the economic environment was highly volatile.
Valuation Within Illiquid Markets Is Fair Value Measurement Still An Appropriate Approach
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Author : Thorsten Wenke
language : en
Publisher: GRIN Verlag
Release Date : 2009-10-12
Valuation Within Illiquid Markets Is Fair Value Measurement Still An Appropriate Approach written by Thorsten Wenke and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-12 with Business & Economics categories.
Bachelor Thesis from the year 2009 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Hull (Business School), course: Independent Study, language: English, abstract: Banks always played a superior role in business and especially in our today’s internationalised environment their position has become more crucial than ever before. Though, since summer 2007 these financially strong giants have been unhinged by their self-developed ‘financial crisis’ that originated from the US sub-prime market. Due to the instance that the today’s capital markets are interlinked worldwide, it was just a matter of months that the effects of this ‘banking crisis’ unbalanced the entire global economy. Actually large banks became illiquid and the governments had to shore them up, so that the whole financial network did not go to pieces. Among others, the reason for this disaster was a lack of trust between market participants, caused by enormous amounts of ‘toxic debts’, hidden in the balance sheets of almost every bank that cannot be reliably valued or seem to be worthless. For that reason the professional world and the accounting body IASB came under fire. Especially banks and politicians accused them of having provided inadequate and in-transparent accounting standards, which led to this disaster and amplified the downturn in the world economy. Hence, not only the accounting standard for financial instruments IAS 39 is in the centre of this discussion, especially the IASB's eminently respectable 'fair value' approach has been criticised of being useless in times when markets are absent. This paper will try finding answers if better accounting standards for financial instruments would have prevented us from this downturn in economy by analysing the origin of the financial crisis and showing the arisen problems. After highlighting its development, the central IFRS standards IAS 39 and the fair value approach will be analysed and evaluated with focus on banks. Finally the IASB’s attempts to manage the arisen problems within the credit crisis will be shown and annotated.
Ifrs 9 Financial Instruments International Financial Reporting Standard 9
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Author :
language : en
Publisher:
Release Date : 2009
Ifrs 9 Financial Instruments International Financial Reporting Standard 9 written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Assets (Accounting) categories.
Supervisory Roles In Loan Loss Provisioning In Countries Implementing Ifrs
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Author : Ellen Gaston
language : en
Publisher: International Monetary Fund
Release Date : 2014-09-15
Supervisory Roles In Loan Loss Provisioning In Countries Implementing Ifrs written by Ellen Gaston and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-15 with Business & Economics categories.
Countries implementing International Financial Reporting Standards (IFRS) for loan loss provisioning by banks have been guided by two different approaches: International Accounting Standards (IAS) 39 and Basel standards. This paper discusses the different accounting and regulatory approaches in loan loss provisioning, and the challenges supervisors face when there are different perspectives and lack of guidance from IFRS. It suggests actions that supervisors can take to help banks meet regulatory and capital requirements and, at the same time, comply with accounting principles.
Ias 39 Accounting For Financial Instruments
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Author : Kathinka Kurz
language : en
Publisher: GRIN Verlag
Release Date : 2004-10-12
Ias 39 Accounting For Financial Instruments written by Kathinka Kurz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-10-12 with Business & Economics categories.
Diploma Thesis from the year 2004 in the subject Business economics - Accounting and Taxes, grade: 1,0 (A), European School of Business Reutlingen (FH Reutlingen), language: English, abstract: Financial markets have developed extremely in volume and complexity in the last 20 years. International investments are booming, due to the general relaxation of capital controls and the increasing demand of international diversification by investors. Driven by these developments the use and variety of financial instruments has grown enormously. Risk management strategies that are crucial to business success can no longer be executed without the use of derivative instruments. Accounting standards have not kept pace with the dynamic development of financial markets and instruments. Concerns about proper accounting regulations for financial instruments, especially derivatives, have been sharpened by the publicity surrounding large derivative-instrument losses at several companies. Incidences like the breakdown of the Barings Bank and huge losses by the German Metallgesellschaft have captured the public‘s attention. One of the standard setters’ greatest challenges is to develop principles applicable to the full range of financial instruments and implement structures that will adapt to new products that will continue to develop. Considering these aspects, the focus of this paper is to illustrate how financial instruments are accounted for under the regulations of the International Accounting Standard (IAS) 39. It refers to the latest version, “Revised IAS 39”, which was issued in December 2003 and has to be applied for the annual reporting period beginning on or after January 1. 2005. First, the general regulations of this standard are demonstrated followed by special hedge accounting regulations. An overall conclusion that points out critical issues of IAS 39 is provided at the end of the paper. IAS 39 is highly complex and one of the most criticized International Financial Reporting Standards (IFRS). In many cases, the adoption of IAS 39 will lead to significant changes compared to former accounting regulations applied. Therefore the paper is designed to provide a broad understanding of the standard and to facilitate its implementation.
Ifrs 7
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2005
Ifrs 7 written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Disclosure in accounting categories.
Improvements To Ifrss
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2010
Improvements To Ifrss written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Accounting categories.
