Financial Instruments Disclosure Practices
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Financial Instruments Disclosure Practices
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Author : Syaima' binti Adznan
language : en
Publisher:
Release Date : 2014
Financial Instruments Disclosure Practices written by Syaima' binti Adznan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The current changes in business settings have directed companies to conduct business at international level, which requires the use of financial instruments. The mandatory MFRS 7, an-equivalent to the IFRS 7 standard shall be applied for annual financial periods beginning or after 1 Jan 2012. It caters for entities to disclose their involvement with financial instruments. Thus, the aim of this study is to investigate the financial instruments disclosure (FID) practices of Malaysian listed companies; specifically, their level of compliance with MFRS 7. The mean score for FID is 80.76%, which indicates that, in general, companies have complied with MFRS 7, although there are several requirements omitted by some companies. Furthermore, in light of the revision of MCCG in 2012, this study examines the association of corporate governance mechanisms with the extent of FID among companies. The corporate governance characteristics used in this study are board expertise, audit committee independence, audit fee, external and internal audit functions. This study applied the agency theory and formulated five hypotheses to test the extent of the relationship between FID and corporate governance characteristics. Based on a total sample of 319 Malaysian public listed companies for financial year end 2012, the analysis revealed that FID is significantly and positively associated with audit committee independence and external audit functions, while internal audit is negatively associated. The results suggest that audit committee members need to be independent to discharge their duties effectively; in addition, there should be an internal audit function that is independent, reliable and functioning in a timely manner. This is crucial in order to strengthen the role of the auditing function within the firm. Moreover, the results attest that, Big Four audit firms are more likely to ensure high compliance with applicable accounting standards compared to non-Big Four, as they are internationally recognised, and have more resources and expertise. Apart from contributing to the literature on financial reporting and corporate governance, this study may serve as a valuable input for regulators and standard setters to encourage strict enforcement of the incorporation of effective corporate governance practices in Malaysian listed companies, as this is likely to have some influence on the level of compliance with MFRS.
Corporate Governance And Financial Instruments Disclosure Practices
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Author : Syaima' Adznan
language : en
Publisher:
Release Date : 2015-06-16
Corporate Governance And Financial Instruments Disclosure Practices written by Syaima' Adznan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-16 with categories.
The Adequacy Of Ifrs 7 Within The European Electricity Industry
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Author : Alfred Mully
language : en
Publisher: GRIN Verlag
Release Date : 2014-01-21
The Adequacy Of Ifrs 7 Within The European Electricity Industry written by Alfred Mully and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-21 with Business & Economics categories.
Bachelor Thesis from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Amsterdam, course: Bachelor of Science in Accounting & Control, language: English, abstract: This paper investigates the adequacy of IFRS 7 by measuring companies’ compliance and extent of disclosure. Adequacy is defined as: to what extent does the standard achieves its objective, which is, to require entities to disclose certain information associated with the use of financial instruments. For this purpose, the annual reports of 21 European electricity companies with fiscal years ending December 31, 2007 have been examined. The author constructed an unweighted disclosure index of 103 items, based on the IFRS 7 requirements, for quantifying the extent of disclosure. The results suggest that the sample companies varied in disclosure levels. Certain required disclosures were sometimes not provided. For instance, the majority of the sample companies provided quantitative disclosures of market risk; however the market risk measurement models are insufficiently explained. The limitations inherent to the models used were usually not discussed. Further, the results show that electricity companies were not keen on providing additional disclosures. This study also seeks to find associations between the extent of disclosure and some corporate characteristics of which statistical relationships were found in prior literature, such as corporate size, listing status, profitability, leverage and auditor size. However, this ended up without any significant findings. This is likely due to the sample size which is inappropriate for statistical testing. Finally, the paper concludes that the shortcomings in disclosure call for regulation. It is expected that, if no regulation were in place, little would be disclosed with respect to risk associated with the use of financial instruments.
Risk Management Disclosure Practices Of Uk Non Financial Firms After Frs 13
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Author : Amrit Judge
language : en
Publisher:
Release Date : 2002
Risk Management Disclosure Practices Of Uk Non Financial Firms After Frs 13 written by Amrit Judge and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
In the United Kingdom Financial Reporting Standard (FRS) 13 requires narrative and numerical disclosure of all financial instruments held or issued, in order to provide information about their impact on the entity's risk profile. FRS 13 came into force for March 1999 year-ends. Under FRS 13 firms are required to disclose various details of the carrying amounts of financial liabilities and assets. In particular firms must specify the currency in which liabilities and assets are held, and show separately those liabilities and assets at fixed interest rates, those at floating interest rates and those on which no interest is paid. This data enables the determination of the proportion of a firm's debt that is fixed or floating and a firm's foreign currency debt mix. This paper presents the initial results from a detailed analysis of these risk management disclosures in the annual reports of 100 UK non-financial firms for the period March 1999 to December 1999.
Disclosure Behavior Of European Firms Around The Adoption Of Ifrs
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Author : Michael H. R. Erkens
language : en
Publisher: Springer
Release Date : 2016-05-12
Disclosure Behavior Of European Firms Around The Adoption Of Ifrs written by Michael H. R. Erkens and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-12 with Business & Economics categories.
Michael Erkens analyzes the determinants and consequences of information disclosure. He presents an empirical investigation of corporate risk management disclosures of nearly 400 firms from 20 European countries. The results show that countries’ institutional settings and cultural values are predominant factors why firms disclose information on their risk management practices. In another study, the author analyzes the economic consequences associated with the publication of an annual report in English by European firms from non-English speaking countries. He finds that the release of English annual reports attracts more analysts and foreign investors to the firm, and decreases information asymmetries between insiders and outsiders of the firm.
Survey Of Disclosures About Trading And Derivatives Activities Of Banks And Securities Firms
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Author : Basle Committee on Banking Supervision
language : en
Publisher:
Release Date : 1996
Survey Of Disclosures About Trading And Derivatives Activities Of Banks And Securities Firms written by Basle Committee on Banking Supervision and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Banks and banking categories.
Financial Instruments
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Author : Rosemarie Sangiuolo
language : en
Publisher: CCH
Release Date : 2008-11
Financial Instruments written by Rosemarie Sangiuolo and has been published by CCH this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-11 with Business & Economics categories.
Financial Instruments: A Comprehensive Guide to Accounting and Reporting is written for practicing accountants and other professionals who need to understand the accounting for financial instruments. This unique book pulls together all of the existing accounting literature on financial instruments into one volume, organizes it logically, and describes the requirements as simply as possible. This comprehensive, topic-based approach will save practitioners time and effort in researching accounting issues.
Enhancing Public Confidence In Financial Reporting
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Author : Group of Thirty
language : en
Publisher:
Release Date : 2003
Enhancing Public Confidence In Financial Reporting written by Group of Thirty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Accounting categories.
Practical Guide To Financial Instruments
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Author : Santosh Maller
language : en
Publisher: Bloomsbury Publishing
Release Date : 2021-05-15
Practical Guide To Financial Instruments written by Santosh Maller and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-15 with Law categories.
About the book Accounting for financial instruments under Ind AS is generally complex. In India, we do not have much of a history of a comprehensive and robust accounting framework for financial instruments. Historically, accounting for financial instruments is primarily based on form rather than the contractual terms of instruments. Focus on accounting for financial instruments started only since 2007. Owing to global financial crisis which raised issues regarding accounting treatment of financial instruments, various accounting standards setting bodies examined the robustness of accounting for financial instruments. Further, Ind AS transition resulted in high-quality, principles-based, globally comparable financial reporting of large Indian companies. Accounting for financial instruments under Ind AS is quite robust and comprehensive. Towards this end, this book attempts to provide insights and in-depth analysis on interpretative issues and complex principles in the Ind ASs dealing with financial instruments. The requirements of Ind AS 32, Financial instruments: Presentation, Ind AS 109, Financial instruments, and Ind AS 107 Financial instruments: Disclosures are extensively dealt with. There are separate chapters addressing: Scope of the requirements. Debt/equity classification. Classification. Recognition and Derecognition. Subsequent measurement. Fair values and impairment. Hedge accounting. Presentation and Disclosures. Implications on key provisions of Companies Act, 2013. ICAI's Guidance Note on Accounting for Derivative Contracts. This book is intended to help the companies to identify Ind AS requirements that are relevant to them and evaluate various aspects of financial instruments accounting. The book would be an immensely useful referencer for professionals, practitioners and corporates. Key features - To simplify the reading experience, the chapters include a brief, easy to understand, summary of the relevant topic, followed by Frequently Asked Questions (FAQs) on the chapter. - Covers examples-based illustrations of complex topics. - Covers case studies on hedge accounting with journal entries, guidance for hedge documentation and effectiveness testing. - Includes real life extracts of disclosures of financial instruments. - Covers the amendment related to LIBOR and other interbank offered rates ('IBORs') issued by the Ministry of Corporate Affairs vide Companies (Indian Accounting Standards) Amendment Rules, 2020 on 24 July, 2020. - Covers key implications of Ind AS under Companies Act, 2013.About the book
Illustrations Of Disclosures About Fair Value Of Financial Instruments
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Author : Leonard Lorensen
language : en
Publisher:
Release Date : 1994
Illustrations Of Disclosures About Fair Value Of Financial Instruments written by Leonard Lorensen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.