nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2020‒03‒16
seven papers chosen by
Alexander Harin
Modern University for the Humanities

  1. KEY POINTS IN ROMANIAN LAW SYSTEM OF THE OPERATIONALISATION PROCESS OF THE ESSENTIAL INTERNATIONAL AND EUROPEAN STANDARDS FROM PUBLIC SECTOR ACCORDING WITH NON-CURRENT ASSTES, INVENTORIES AND HUMAN RESOURCES EXPENDITURES IN PUBLIC INSTITUTIONS AND IN ARMED FORCES FROM 1990 TILL PRESENT By Corina ENACHE
  2. Environment–schmironment: climate change through a finance & liability risk lens By Barker, Sarah
  3. SIMILARITIES AND DIFFERENCES REGARDING THE NON-CURRENT ASSTES, INVENTORIES AND HUMAN RESOURCES EXPENDITURES IN ROMANIAN PUBLIC INSTITUTIONS, ENTITIES OF THE MINISTRY OF NATIONAL DEFENSE AND PRIVATE SECTOR INSTITUTIONS AND THEIR SIGNIFICANCE FOR INCREASING THE RELEVANCE OF THIS ACCOUNTING INFORMATION FOR MANAGERIAL STRUCTURES OF ARMED FORCES By Corina ENACHE
  4. Measuring What Matters in Global Value Chains and Value-Added Trade By Borin,Alessandro; Mancini,Michele
  5. The Effects of Corporate Taxes on Small Firms By Harju, Jarkko; Koivisto, Aliisa; Matikka, Tuomas
  6. What Is the Composition of Central Bank Balance Sheets in Normal Times? By Ylva Søvik; Antoine Martin; Emily Eisner
  7. Double Tax Avoidance and Tax Competition for Mobile Capital By Leibrecht, Markus; Rixen, Thomas

  1. 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
  2. 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
  3. 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
  4. 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
  5. 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
  6. 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
  7. 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

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