Evidence On The Use Of Unverifiable Estimates In Required Goodwill Impairment
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Evidence On The Use Of Unverifiable Estimates In Required Goodwill Impairment
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Author : Karthik Ramanna
language : en
Publisher:
Release Date : 2009
Evidence On The Use Of Unverifiable Estimates In Required Goodwill Impairment written by Karthik Ramanna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
SFAS 142 requires managers to estimate the current fair value of goodwill to determine goodwill write-offs. In promulgating the standard, the FASB predicted managers will, on average, use the fair value estimates to convey private information on future cash flows. The current fair value of goodwill is unverifiable because it depends in part on management's future actions (including managers' conceptualization and implementation of firm strategy). Thus, agency theory predicts managers will, on average, use the discretion in SFAS 142 consistent with private incentives. We test these hypotheses in a sample of firms with market indications of goodwill impairment. Our evidence, while consistent with some agency-theory derived predictions, does not confirm the private information hypothesis.
Evidence From Goodwill Non Impairments On The Effects Of Using Unverifiable Estimates In Financial Reporting
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Author : Karthik Ramanna
language : en
Publisher:
Release Date : 2009
Evidence From Goodwill Non Impairments On The Effects Of Using Unverifiable Estimates In Financial Reporting written by Karthik Ramanna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
SFAS 142 requires managers to estimate reporting unit values to determine goodwill write-offs. Those estimates often use unverifiable discounted-future-cash-flows providing managers with more discretion than historically afforded in financial reporting. Ex post, managers can claim their unit value estimates were not realized due to factors outside their control, claims that are difficult to objectively falsify. In promulgating SFAS 142, standard setters assume managers, on average, use unverifiable discretion to convey private information on future cash flows; in contrast, agency theory predicts managers, on average, use unverifiable discretion opportunistically. We test these alternative hypotheses using a sample of firms with market indications of goodwill impairment. Our evidence, while consistent with agency theory, does not confirm the private information hypothesis.
Evidence On The Effects Of Unverifiable Fair Value Accounting
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Author : Karthik Ramanna
language : en
Publisher:
Release Date : 2008
Evidence On The Effects Of Unverifiable Fair Value Accounting written by Karthik Ramanna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
SFAS 142 requires firms to use fair-value estimates to determine goodwill impairments. Watts (2003) and Ramanna (2007) argue the unverifiable nature of those fair-value estimates gives firms discretion to manage impairments. We test this argument in a sample of firms with market indications of impairment (firms with book goodwill and market-to-book ratio below one). We find that the frequency of non-impairment in this sample is about 71%, and that non-impairment is increasing in financial characteristics predicted to be associated with greater unverifiable fair-value-based discretion. To investigate whether non-impairment is associated with managers producing on average better estimates of goodwill than the market, we test whether non-impairment increases in industries with higher average information asymmetries. We fail to find evidence consistent with this proposition.
Goodwill Impairment
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Author : Thorsten Sellhorn
language : en
Publisher: Peter Lang Pub Incorporated
Release Date : 2004
Goodwill Impairment written by Thorsten Sellhorn and has been published by Peter Lang Pub Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Reference categories.
In 2001, goodwill amortization in the US was eliminated in favor of an impairment-only approach, which, according to critics, gives managers vast discretion and opportunities for earnings management. Prior research suggests that discretionary asset write-offs are associated with economic factors and managers_ financial reporting objectives. Based on a systematic literature review, this study investigates for a comprehensive sample of US firms the determinants of goodwill write-off behavior. Regression analysis shows that write-off behavior is significantly explained by firms_ economic properties. Only in large, high-profile firms, incentives appear to be significant determinants. These findings suggest that the impairment-only approach does capture goodwill impairment at least to some extent.
Issues In Accounting Administration And Corporate Governance 2013 Edition
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Author :
language : en
Publisher: ScholarlyEditions
Release Date : 2013-05-01
Issues In Accounting Administration And Corporate Governance 2013 Edition written by and has been published by ScholarlyEditions this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-01 with Business & Economics categories.
Issues in Accounting, Administration, and Corporate Governance: 2013 Edition is a ScholarlyEditions™ book that delivers timely, authoritative, and comprehensive information about Logistics. The editors have built Issues in Accounting, Administration, and Corporate Governance: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Logistics in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in Accounting, Administration, and Corporate Governance: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Proceedings Of The International Conference Theory And Applications In The Knowledge Economy Take 2019
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Author : Florian Kragulj
language : en
Publisher: Eduardo Tomé
Release Date : 2019-07-10
Proceedings Of The International Conference Theory And Applications In The Knowledge Economy Take 2019 written by Florian Kragulj and has been published by Eduardo Tomé this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-10 with Business & Economics categories.
Foreword Ten years is a long time. In 2009 a bunch of friends gathered in Portugal for a conference that was to precede TAKE. In 2011 we repeated. Then, after a strange sequence of events, we finally organized TAKE for the first time in 2015 in Aveiro, followed by Zagreb, Poznan and now Vienna. Florian Kragulj was in the first TAKE in Aveiro and from the start showed the highest level of enthusiasm and professionalism in the event. These characteristics were kept alive during all the 15 or so months during which we organized TAKE 2019. That this edition of TAKE involves several entities linked with academia, i.e. WU Vienna University of Economics and Business, the Austrian Economic Chamber and the Institute for Applied Research on Skilled Crafts and Trades (IAGF). This in itself a big success and a sign of the Conference improvement. Also, we may see, by analysing the papers and in particular the streams, that TAKE has been following the economic times, and this year we have several papers on the Gig Economy. Only good conferences adjust, the others get stuck in time. And success in Conferences is about teams. And in TAKE that team, is indeed, a very large group of people including the co-chairs, the local organizing team, the material organizers (Book of Abstracts and Proceedings), the stream leaders, and the paper reviewers – without all these persons nothing could have been done. And finally we had to depend on the authors, and their willingness to work with us. Without the work of these large dozens of devoted and skilled people TAKE 2019 would not have existed. May I also mention that this time and with Florian’s impulse and skill the organization of TAKE was improved in technological terms – in short we became techno – we used a website to deliver the mail list, a website to receive the scientific material and another website to receive the fees. All these were investments that eventually paid of, and that will guarantee a more stable organization for TAKE in the future. And we owe it to Florian. However, as the Human Resource Development part of TAKE (and more than anyone Gary Mc Lean) would remind us – “We are humans, Eduardo”, and technology helps, but in the end, is attention to detail, capacity to deal with the bizarre and to accommodate the weirdness making sometimes the impossible possible that differentiates a good conference, made doing things right, from an excellent conference, based in doing the right things. And on this last matter, believe me, we in TAKE are among the best in the world, because apart from being outstanding scholars, and good colleagues, we are an amazing group of friends, and friendship is the best way to turn good conferences into outstanding ones. Many thanks, from the heart and enjoy the Conference. Eduardo Tomé Conference Chair, Universidad Europeia Lisbon, July 2019, Lisbon, Portugal
Applying Ifrs Standards
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Author : Ruth Picker
language : en
Publisher: John Wiley & Sons
Release Date : 2019-06-24
Applying Ifrs Standards written by Ruth Picker and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-24 with Business & Economics categories.
Understanding the main concepts of IFRS Standards The fourth edition of Applying IFRS Standards explains the core principles of International Financial Reporting (IFRS) Standards. It also addresses the skills needed to apply the standards in business environments. The book begins with an overview of the International Accounting Standards Board (IASB) and how it establishes accounting standards. The general book topics are then covered in detail and include: income taxes, financial instruments, fair value measurement, property, inventories, employee benefits and more. Discussion questions, exercises and references are provided throughout the book.
Advances In Quantitative Analysis Of Finance And Accounting New Series Vol 15
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Author : Cheng F. Lee
language : en
Publisher: Center for PBBEFR & Airiti Press
Release Date : 2017-01-01
Advances In Quantitative Analysis Of Finance And Accounting New Series Vol 15 written by Cheng F. Lee and has been published by Center for PBBEFR & Airiti Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-01 with Business & Economics categories.
Advances in Quantitative Analysis of Finance and Accounting (New Series) is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and the accounting profession.
Positive Accounting Theory
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Author : Ross L. Watts
language : en
Publisher:
Release Date : 2004
Positive Accounting Theory written by Ross L. Watts and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Accounting categories.
The Routledge Companion To Fair Value In Accounting
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Author : Gilad Livne
language : en
Publisher: Routledge
Release Date : 2018-06-13
The Routledge Companion To Fair Value In Accounting written by Gilad Livne and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
The concept of "fair value" marked a major departure from traditional cost accounting. In theory, under this approach a balance sheet that better reflects the current value of assets and liabilities. Critics of fair value argue that it is less useful over longer time frames and prone to distortion by market inefficiencies resulting in procyclicality in the financial system by exacerbating market swings. Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by internationally recognized experts, this book, on a controversial and intensely debated topic, is a comprehensive reference source which: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical and practical perspectives, including a critical review of the merits and arguments against the use of fair value accounting explores fair value accounting in practice, involvement in the Great Financial Crisis, implications for managerial reporting discretion, compensation and investment This volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.