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on Accounting and Auditing |
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Issue of 2020‒03‒16
seven papers chosen by |
| By: | Corina ENACHE ("CAROL I" National Defense University, Chief of Office/Medical Directorate, Bucharest, Romania) |
| Abstract: | European states currently implement two sets of accounting standards: national accounting standards and International Financial Reporting Standards. International financial reporting standards require clear, precise and common rules for everyone involved at the international level. International accounting standards were the first international accounting standards developed by International Accounting Standards Committee, created in 1973. Currently, 16 IFRS and 29 IAS are in use. Starting with 2021, a new IFRS, called IFRS 17 Insurance Contracts, will become active. The reform of the international public sector has brought a series of changes including the elaboration of International Public Sector Accounting Standards, especially, in the European space. |
| Keywords: | international financial reporting standards; international accounting standards; international public sector accounting standards |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:rom:km2019:15&r=all |
| By: | Barker, Sarah |
| Abstract: | First it was activist investors. Then mainstream shareholders. And now finance markets, insurance companies, regulators and even auditors are demanding that companies actively address their climate-related financial risks. But why this shift from ‘ethical fringe’ to ‘financial mainstream’, and what does it mean for corporate governance, strategy risk management and disclosure? And how can seemingly divergent national policies, regulatory practices and financial market signals be commercially reconciled? This presentation examines climate risk from the unique perspective of a corporate lawyer, director of a large institutional investor, and faculty member of the University of Oxford’s Sustainable Finance Programme. It focuses on emerging corporate governance issues for FY19, from: • international regulatory developments: the EU’s Green Taxonomy, the UK’s Net Zero Law, and signalling by central banks and prudential regulators; • international financial market trends: integration of climate-related issues into credit ratings and commercial loan margin adjustments; • litigation trends beyond planning and permitting: climate-related negligence, nuisance, directors’ duties and securities fraud claims; and • annual reports: heightened investor expectations around TCFD-aligned disclosures, and new regulatory guidance on the integration (and audit) of climate-related assumptions in balance sheet accounting estimates. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:cfcp19:301984&r=all |
| By: | Corina ENACHE ("CAROL I" National Defense University, Chief of Office/Medical Directorate, Bucharest, Romania) |
| Abstract: | In order to function in optimal conditions any entity of the Ministry of National Defense needs a series of tangible and intangible assets such as machinery, installations, buildings, furniture, computers, software, patents, licenses, etc. In organizing the accounting of public institutions an important role is played by the knowledge and respect of the budget classification. Unlike the public institutions whose main objective is to provide goods and services to the population or social aid, the entities from the private sector are looking to obtain profit. Entities of the Ministry of National Defense carry out the process of accounting on the same principles and respecting the same norms as the public institutions, but at the same time, considering the belonging of our country to the strongest political-military alliance of the world, as well as to the European Union, the military institution permanently adapts its internal procedures to ensure the financial interoperability of the participating troops throughout the range of NATO and / or EU military operations. |
| Keywords: | accounting, non-current asstes, inventories, human resources expenditures |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:rom:km2019:16&r=all |
| By: | Borin,Alessandro; Mancini,Michele |
| Abstract: | The spread of global value chains (GVCs) has given rise to new statistical tools, the Inter-Country Input-Output tables and new analytical frameworks aimed at properly identifying production linkages between and within economies. However, several important questions remain unaddressed. This paper proposes a new toolkit for value-added accounting of trade flows at the aggregate, bilateral, and sectoral levels that can be used to investigate a broad set of empirical questions -- including an assessment of the share of trade related to GVCs. The paper shows how different empirical issues require distinct accounting perspectives, and maps these methodologies onto the economic questions they are best suited to address. In this way, in addition to providing novel tools, the paper brings a large part of the related literature under one comprehensive framework. |
| Keywords: | International Trade and Trade Rules,Industrial and Consumer Services and Products,Transport and Trade Logistics,Crime and Society |
| Date: | 2019–04–04 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:8804&r=all |
| By: | Harju, Jarkko; Koivisto, Aliisa; Matikka, Tuomas |
| Abstract: | We study the impact of corporate taxes on firm-level investments, total output and input usage by exploiting a 4.5 percentage-point corporate tax rate cut in Finland in 2014. We use detailed administrative data and a differences-in-differences method comparing small corporations (tax rate cut) to similar partnerships (no change in tax incentives). We find no significant investment responses. However, we observe an increase in annual sales and variable costs, suggesting that corporate tax rates have an effect on business activity. The effects are driven by entrepreneurs who actively work in their firm, suggesting that the tax cut increased entrepreneurial effort. |
| Keywords: | corporate taxation, investments, business activity, small firms, Social security, taxation and inequality, Business regulation and international economics, G31, G38, H21, H25, |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:fer:wpaper:129&r=all |
| By: | Ylva Søvik; Antoine Martin; Emily Eisner (Research and Statistics Group) |
| Abstract: | There has been unusually high activity on central banks? balance sheets in recent years. This activity, which has expanded beyond the core operations and collateral of the central bank, has been called ?unconventional,? ?nonstandard,? ?nontraditional,? and ?active.? But what constitutes a normal central bank balance sheet? How does central bank asset and liability composition vary across countries and how did the crisis change this composition? In this post, we focus on the main characteristics of central bank balance sheets before the crisis. In our next piece, we describe how this composition has changed in response to the crisis. |
| Keywords: | Central bank balance sheet |
| JEL: | E5 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fednls:87093&r=all |
| By: | Leibrecht, Markus; Rixen, Thomas (Freie Universität Berlin) |
| Abstract: | Postprint. Please cite as: Leibrecht, Markus and Thomas Rixen (2010) Double Tax Avoidance and Tax Competition for Mobile Capital, in: Martin Zagler (Ed.): International Tax Coordination. An Interdisciplinary Perspective on Virtues and Pitfalls, Routledge, 61-97. https://doi.org/10.4324/9780203849026 |
| Date: | 2020–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:dgw5k&r=all |