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on Accounting and Auditing |
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Issue of 2022‒05‒09
five papers chosen by |
| By: | Ranik Raaen Wahlstr{\o}m |
| Abstract: | This document details a data set which contains all unconsolidated annual financial statements of the universe of Norwegian private and public limited liability companies from the accounting years 2006-2019. In addition, the data set contains all the financial statements of other companies, e.g., sole proprietorships and general partnerships, which are reported to the Norwegian authorities. In sum, the data set contains 3,876,923 financial statements. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2203.12842&r= |
| By: | Morley, Julia |
| Abstract: | The theoretical foundations of Karthik Ramanna's "Unreliable Accounts"are investigated, demonstrating the pluralistic approach which underlies his critique of the accountability and governance of the FASB. In particular, I highlight Ramanna's use of multiple units of analysis and theoretical frameworks in his arguments for the existence of conceptual veiling, but I question the extent to which extent Ramanna's account can be viewed as a generalisable causal explanation. Finally, avenues for future research are noted. |
| Keywords: | accounting; regulation; theoretical pluralism; De Gruyter deal |
| JEL: | M41 |
| Date: | 2022–02–25 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:114359&r= |
| By: | Olivier Cretté (LIRSA - Laboratoire interdisciplinaire de recherche en sciences de l'action - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université); Jean-François Casta (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | À l'issue de l'exposé des motifs de la révision de la NEP 540 et des difficultés et limites inhérentes à la mise en œuvre des estimations comptables, nous avons recherché les déterminants du choix des points clés de l'audit des sociétés du CAC 40 au titre des derniers exercices clos avant l'homologation de la norme en août 2021, pour anticiper le champ d'application de la NEP 540 révisée au cours des prochains exercices, et cerner la marge de progression des travaux du commissaire aux comptes en gage de confiance des utilisateurs des états financiers. Face à la complexité croissante des modèles de valorisation et aux évolutions réglementaires, nos constats augurent d'un renforcement de l'approche par les risques et d'une attention accrue sur l'éventualité de biais de la direction dans l'appréhension de la juste valeur sous-tendant les estimations comptables. |
| Keywords: | norme comptable,information financière |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03591202&r= |
| By: | Outmane Farrat (ENCGF - Ecole Nationale de Commerce et de Gestion De Fès - USMBA - Université Sidi Mohamed Ben Abdellah); Zouhair Hajji |
| Abstract: | Déclaration de divulgation : Les auteurs n'ont pas connaissance de quelconque financement qui pourrait affecter l'objectivité de cette étude. Conflit d'intérêts : Les auteurs ne signalent aucun conflit d'intérêts. Citer cet article FARRAT, O., & HAJJI, Z. (2022). Contribution à l'analyse des déterminants de la divulgation des informations RSE sur les sites web au Maroc : cas des organismes financiers cotés dans la bourse de Casablanca. |
| Keywords: | Qualité,RSE,Sites web,Organismes financiers. Classification JEL: M14 Type de l'article : Recherche empirique Quality,CSR,Websites,Financial organizations. JEL Classification : M14 Paper type: Empirical research |
| Date: | 2022–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03563238&r= |
| By: | Xu, Jack |
| Abstract: | Fundamental credit analysis is widely performed by fixed income analysts and financial institutions to assess the credit risk of individual companies based on their financial data, notably the financial statements reported by the companies. Yet, the conventional analysis has not developed a computational method to forecast, directly from a company’s financial statements, the default probability, the recovery rate, and ultimately the fundamental valuation of a company’s credit risk in terms of credit spreads to risk-free rate. This paper introduces a generalizable approach to achieve these goals by implementing fundamental credit analysis in dynamical models. When combined with Monte-Carlo simulation, the current methodology naturally combines several novel features in the same forecast algorithm: 1. integrating default (defined as the state of negative cash) and recovery rate (under liquidation scenario) through the same defaulted balance sheet, 2. valuing the corporate real options manifested as planning in the amount of borrowing and expenditure, 3. embedding macro-economic and macro-financing conditions, and 4. forecasting the joint default risk of multiple companies. The method is applied to the Chinese real estate industry to forecast for several listed developers their forward default probabilities and associated recovery rates, and the fair-value par coupon curves of senior unsecured debt, using as inputs 6-8 years of their annual financial statements with 2020 as the latest. The results show both agreements and disagreements with the market-traded credit spreads at early April 2021, the time of these forecasts. The models forecasted much wider than market spreads on the big three developers, particularly pricing Evergrande in distressed levels. After setting up additional generic industry models, the current methodology is capable of computing default risk and debt valuation on large-scale of companies based on their historical financial statements. |
| Keywords: | fundamental credit analysis; financial statement analysis; default forecasting; bond valuation; debt valuation; dynamical models; joint default; corporate real options |
| JEL: | C6 G17 |
| Date: | 2022–04–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:112699&r= |