nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2007‒04‒21
five 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. Financial Accelerator Effects in the Balance Sheets of Czech Firms By Roman Horváth
  3. 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
  4. 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
  5. Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions By Dean Karlan; Martin Valdivia

  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: P13 M41
    Date: 2006
  2. By: Roman Horváth
    Abstract: The paper examines a financial accelerator mechanism in analyzing determinants of corporate interest rates. Using a panel of the financial statements of 448 Czech firms from 1996–2002, we find that balance sheet indicators matter for the interest rates paid by firms. Market access is particularly important in this regard. The strength of corporate balance sheets seem to vary with firm size. There is also evidence that monetary policy has a stronger effect on smaller than on larger firms. On the other hand, we find no asymmetry in the monetary policy effects over the business cycle.
    Keywords: balance sheet channel, financial accelerator, interest rates, monetary policy transmission
    JEL: G11 G32
    Date: 2006–11–01
  3. 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: P13 M41 J54
    Date: 2006
  4. 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
  5. By: Dean Karlan; Martin Valdivia
    Abstract: Can one teach basic entrepreneurship skills, or are they fixed personal characteristics? Most academic and development policy discussions about microentrepreneurs focus on their access to credit, and assume their human capital to be fixed. The self-employed poor rarely have any formal training in business skills. However, a growing number of microfinance organizations are attempting to build the human capital of micro-entrepreneurs in order to improve the livelihood of their clients and help further their mission of poverty alleviation. Using a randomized control trial, we measure the marginal impact of adding business training to a Peruvian group lending program for female microentrepreneurs. Treatment groups received thirty to sixty minute entrepreneurship training sessions during their normal weekly or monthly banking meeting over a period of one to two years. Control groups remained as they were before, meeting at the same frequency but solely for making loan and savings payments. We find that the treatment led to improved business knowledge, practices and revenues. The program also improved repayment and client retention rates for the microfinance institution. Larger effects found for those that expressed less interest in training in a baseline survey. This has important implications for implementing similar market-based interventions with a goal of recovering costs.
    Keywords: entrepreneurship, microentrepreneur, business skills, business training, credit
    JEL: M13 M0 M40

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