nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2009‒03‒14
five papers chosen by
Alexander Harin
Modern University for the Humanities

  1. Marking to Market for Financial Institutions: A Common Sense Resolution By Franklin Allen; Elena Carletti; Finn Poschmann
  2. A theoretical and practical study on linear reforms of dual taxes By Samuel Calonge; Oriol Tejada
  3. Efectos cualitativos y cuantitativos de la aplicación de la NIC 12 sobre la información fiscal consolidada de las empresas del IBEX 35 By Mata Melo, Julio; Ustariz Lapuente, Blanca
  4. Indirect Taxation in Vertical Oligopoly By Martin Peitz; Markus Reisinger
  5. Analysis of the Financial Equilibrium on the Building Sector - Case of Romania By Barbuta Misu , Nicoleta

  1. By: Franklin Allen (University of Pennsylvania); Elena Carletti (European University Institute); Finn Poschmann (C.D. Howe Institute)
    Abstract: Debate has intensified in recent years on the advantages and disadvantages of moving towards a full mark-to-market accounting system for banks and insurance companies. The debate has been heated by moves by the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board to harmonize accounting standards across countries. Proponents contend that mark-to-market accounting has the advantage of reflecting the relevant value of financial institution balance sheets, allowing regulators, investors and other users of accounting information to better assess their risk profile. Opponents counter that mark-to-market accounting leads to excessive and artificial volatility, especially when regulatory standards such as bank capital ratios are tied to reported accounting numbers.
    Keywords: mark-to-market accounting, accounting standards, financial markets
    JEL: E44 O16
    Date: 2009–02
  2. By: Samuel Calonge (CREB, Dpt. of Econometrics, Statistics and Spanish Economy, Universitat de Barcelona); Oriol Tejada (Dpt. of Actuarial, Financial and Economic Mathematics, Universitat de Barcelona)
    Abstract: We extend the linear reforms introduced by Pf¨ahler (1984) to the case of dual taxes. We study the relative effect that linear dual tax cuts have on the inequality of income distribution -a symmetrical study can be made for dual linear tax hikes-. We also introduce measures of the degree of progressivity for dual taxes and show that they can be connected to the Lorenz dominance criterion. Additionally, we study the tax liability elasticity of each of the reforms proposed. Finally, by means of a microsimulation model and a considerably large data set of taxpayers drawn from 2004 Spanish Income Tax Return population, 1) we compare different yield-equivalent tax cuts applied to the Spanish dual income tax and 2) we investigate how much income redistribution the dual tax reform (Act ‘35/2006’) introduced with respect to the previous tax.
    Keywords: Dual taxes, linear reforms, Lorenz domination, lattices
    Date: 2009–02
  3. By: Mata Melo, Julio (Departamento de Economía y Administración de Empresas, Facultad de Ciencias Económicas y Empresariales, Universidad de Burgos); Ustariz Lapuente, Blanca (Departamento de Economía y Administración de Empresas, Facultad de Ciencias Económicas y Empresariales, Universidad de Burgos)
    Abstract: El objetivo del presente trabajo es verificar el grado de cumplimiento de la normativa contable respecto a la información fiscal a revelar en la memoria de las cuentas anuales consolidadas de las empresas del IBEX 35, entre los periodos 2002 a 2004 y 2005 a 2006, así como poner de manifiesto la repercusión y el efecto que ha podido tener el cambio normativo sobre la información cuantitativa de carácter fiscal en dichas cuentas anuales, concretamente en la evolución de los activos y pasivos fiscales en balance de situación entre el periodo anterior y posterior al cambio normativo que supuso la aplicación de la NIC 12 “Impuesto sobre las ganancias”. Por último también se analiza si ha existido un cambio en la presión fiscal en los periodos anterior y posterior al cambio normativo. Los resultados obtenidos permiten concluir que los grupos consolidados mantienen un grado de cumplimiento elevado respecto a la normativa contable, así como que el cambio normativo entre los dos periodos no afecta a la presión fiscal, pero ha influido en la evolución de los pasivos fiscales, observándose un aumento estadísticamente significativo de dichas partidas en el periodo 2005-2006.
    Keywords: información fiscal, presión fiscal y activos y pasivos fiscales.
    Date: 2008–12
  4. By: Martin Peitz; Markus Reisinger (Department of Economics, University of Mannheim, 68131 Mannheim, Germany; Department of Economics, University of Munich, Kaulbachstr. 45, 80539 Munich, Germany)
    Abstract: This paper analyzes the effects of specific and ad valorem taxation in an industry with downstream and upstream oligopoly. We find that in the short run, i.e. when the number of firms in both markets is exogenous, the results concerning tax incidence tend to be qualitatively similar to models where the upstream market is perfectly competitive. However, both over- and undershifting are more pronounced, potentially to a very large extent. Instead, in the long run under endogenous entry and exit overshifting of both taxes is more likely to occur and is more pronounced under upstream oligopoly. As a result of this, a tax increase is more likely to be welfare reducing. We also demonstrate that downstream and upstream taxation are equivalent in the short run while this is not true for the ad valorem tax in the long run. We show that it is normally more efficient to tax downstream.
    Keywords: Specific Tax, Ad Valorem Tax, Value-Added Tax, Tax Incidence, Tax Efficiency, Indirect Taxation, Imperfect Competition, Vertical Oligopoly.
    JEL: H22 H32
    Date: 2009–02
  5. By: Barbuta Misu , Nicoleta
    Abstract: This paper is in fact an analysis of the financial equilibrium on the building sector in the period 2001 – 2006 of a sample of 11 enterprises from Galati County – Romania. The aim of this analysis is reflecting to the microeconomic level of the financial equilibrium of enterprises belongs to the building sector as well as the influence on the financial equilibrium of the sector exerted by some enterprises which hold a significant weight.
    Keywords: financial equilibrium; building sector; financial balance sheet; financial working capital; net treasury
    JEL: G32 G30
    Date: 2009–01–10

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