nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2007‒03‒31
eight papers chosen by
Alexander Harin
Modern University for the Humanities

  1. The accounting cooperative society in a process of countable international harmonization. The case of Spain By Polo Garrido, Fernando
  2. Exporting professional models: the expansion of the multinational audit firm and the transformation of the French accountancy profession since 1970 By RAMIREZ, Carlos
  3. Co-operative share capital in the spanish law and its harmonization with the international accounitng standars By Paniagua Zurera, Manuel
  4. Different considerations about social capital in co-operative societies By Fernández Guadaño, Josefina
  5. Relationship loans and regulatory capital: why fair-value accounting is inappropriate for bank loans By William R. Emmons; Gregory E. Sierra
  6. Adjustment of the Law of Cooperative societies of the Basque Country to the International Procedure of Accounting (Notes for a new configuration of the regime of the capital in the Cooperative Societies) By Divar Garteiz-Aurrecoa, Javier; Gadea Soler, Enrique
  7. Effects of the application of the CNIIF 2 in the cooperative societies. An empirical study in two cooperative societies citrícolas of the Valencian Community across the economic - financial analysis By Marí Vidal, Sergio
  8. The financial and countable characterization of the share capital in the light of the cooperative beginning (in Spanish) By Gómez Aparicio, Pilar; Miranda García, Marta

  1. By: Polo Garrido, Fernando
    Abstract: Cooperatives meet differentiated purposes since their origins. In the same way as other economic units, they need to make use of accounting. So the study of cooperative accounting arouse interest from distant time, as it is shown by the fact that in Spain a monograph book about cooperative accounting came out in 1925. The present work studies the cooperative accounting in Spain from the beginnings until nowadays. Currently we are living a process of accounting reform, for this reason we analyse the different impacts that can be the result of the application of International Financial Reporting Standards to cooperatives. Finally we study the response’s movements arisen as result of IFRIC 2 beyond our frontiers.
    Keywords: Accounting standardization; International Financial Reporting Standards; cooperatives; impact of Financial Reporting Standards; accounting reform
    JEL: M41 P13
    Date: 2006
  2. By: RAMIREZ, Carlos
    Abstract: this paper analyses the transformations induced since 1970 in the French accountancy profession by the globalisation of France's economy.
    Keywords: professions; audit; globalization; France sociological history
    JEL: M41 M42
    Date: 2007–02–01
  3. By: Paniagua Zurera, Manuel
    Abstract: The variability of share capital is the technical instrument used by cooperative, national and Community law to achieve the fulfilment of the cooperative principle of voluntary adhesion and voluntary withdrawal. Progressively, the regime of cooperative share capital has added rules and techniques of business corporations. The interpretative standard IFRIC 2, and the IAS 32 itself, do not know the singularities of the co-operative model of business organization, as they are designed for limited corporations or, at least, for those that issue quoted securities; and they ignore the referred evolution in the legal regime of the cooperative share capital. Nevertheless, cooperative societies can not be left aside of the international accounting standards. The IAS 32 itself provides the appropriate instrument to qualify the cooperative shares: compound financial instruments. But, research of the imminent reform of cooperative share capital in the State Law of Cooperatives reveals rush and non critical reception of the mentioned international accounting standards
    Keywords: Cooperative share capital. Liability. Compound financial instrument. Reform of the state legislation on cooperatives
    JEL: M41 P13
    Date: 2006
  4. By: Fernández Guadaño, Josefina
    Abstract: There has been on-going debate concerning the classification of the Social Capitalof cooperative societies. This paper analyzes the different views on important areas of such classification. Particularly, it reviews the juridical approach in the European, national and autonomous environments; the national and international accounting methods; and the economic-financial approach The goal is to overcome the existing discrepancies and to propose the partial refund of the partners' contributions to Social Capital as a solution that attempts to guarantee the Net Patrimony" nature of the non-mandatory portion of those social contributions, along with partially following the "open exit doors" cooperative principle
    Keywords: Cooperative legislation; Social Capital; National and International Accounting Norms
    JEL: M40 M41 P13 G30
    Date: 2006
  5. By: William R. Emmons; Gregory E. Sierra
    Keywords: Bank loans ; Bank capital ; Bank supervision
    Date: 2006
  6. By: Divar Garteiz-Aurrecoa, Javier; Gadea Soler, Enrique
    Abstract: The Basque Legislation of cooperative societies sends to the free decision of every society in order that the bylaws could foresee the existence of contributions to share capital not eligible, but refundable for decision of the cooperative society, allowing to assess, this way, the contributions of the associates as own resource. With the modification of the Law one has tried to adapt only the text to the NIC 32 and not to introduce the longed measurements to facilitate the funding of the cooperative companies with own funds.
    Keywords: Procedure of accounting and funding of the cooperative societies.
    JEL: J54 M41 P13
    Date: 2006
  7. By: Marí Vidal, Sergio
    Abstract: The present paper pretends to analyze the financial and economic effect that the application of the Interpretation of the International Financial Reporting Interpretations Committee about Members' Shares in Co-operative Entities and Similar Instruments could have in co-operatives. This Interpretation states that shares should be classified as financial liabilities in most cases. In Spain, the treatment that the different accounting regulations that have been current until now was completely different. Shares were considered as equity. In this sense, it’s true that this problem has been discussed during last years between spanish investigators, but the legal change is now, so the consequences will appear from now on. Because of this, we pretend to quantify, using the method case, the effect that this legal change could have in the main ratios used on the economic and financial analysis. As a conclusion, we can affirm that an important variation is observed, but the amount of it depends on the initial level of equity in the co-operative.
    Keywords: Co-operatives; member’s shares; IFRS; IFRIC 2.
    JEL: M41
    Date: 2006
  8. By: Gómez Aparicio, Pilar; Miranda García, Marta
    Abstract: The International Financial Reporting Standars have re-opened the discussion on the financial consideration of the contributions of the partners of the cooperative societies. The concept of share capital is joined to the juridical dimension of the same one. To characterize the share capital of the cooperative societies as equity or as debt it is necessary to make explicit the approach (juridical, economic, financial) and the used criterion, provided that several are the possible ones. Though with the majority of the cases the economic and juridical criteria coincide, not always it is like that. The financial characteristics of the share capital are those that the Spanish legislation establishes at present but they are not derived directly of the cooperative principles. It is possible that the laws allow a different configuration without committing an outrage against them. It is necessary to to allow to take advantage, ado limitations that the will of his associates, the opportunities that the economic system offers the rest of the societies
    JEL: P48 M41 P13 G30
    Date: 2006

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