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Towards the convergence of accounting treatment for intangible assets Towards the convergence of accounting treatment for intangible assets Towards the convergence of accounting treatment for intangible assets  [cached]
Yolanda Ramírez Córcoles
Intangible Capital , 2010, DOI: 10.3926/ic.161
Abstract: This study aims at analysing the accounting treatment for identifiable intangible assets. Our research is based on the analysis of the Spanish regulation under the current General Accounting Plan of 2007 (from now on referred to as PGC-2007) and the international regulations stated by two important accounting regulation organisms: the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). In particular, we will carry out a comparative study of the definition, recognition criteria, valuation, amortisation, impairment of value as well as its recovery and information to be provided in the Notes to the Financial Statements. The review of these accounting regulations shows that there is no homogeneous treatment, despite the great advance achieved on this subject, to obtain a higher level of convergence. This study aims at analysing the accounting treatment for identifiable intangible assets. Our research is based on the analysis of the Spanish regulation under the current General Accounting Plan of 2007 (from now on referred to as PGC-2007) and the international regulations stated by two important accounting regulation organisms: the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). In particular, we will carry out a comparative study of the definition, recognition criteria, valuation, amortisation, impairment of value as well as its recovery and information to be provided in the Notes to the Financial Statements. The review of these accounting regulations shows that there is no homogeneous treatment, despite the great advance achieved on this subject, to obtain a higher level of convergence. This study aims at analysing the accounting treatment for identifiable intangible assets. Our research is based on the analysis of the Spanish regulation under the current General Accounting Plan of 2007 (from now on referred to as PGC-2007) and the international regulations stated by two important accounting regulation organisms: the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). In particular, we will carry out a comparative study of the definition, recognition criteria, valuation, amortisation, impairment of value as well as its recovery and information to be provided in the Notes to the Financial Statements. The review of these accounting regulations shows that there is no homogeneous treatment, despite the great advance achieved on this subject, to obtain a higher level of convergence.
A Comparative Study of Difficulties in Accounting Preparation and Judgement in Agriculture Using Fair Value and Historical Cost for Biological Assets Valuation  [PDF]
Josep Ma. Argilés Bosch,Anna Sabata Aliberch,Josep García Blandón
Revista de Contabilidad : Spanish Accounting Review , 2012,
Abstract: This paper presents empirical research comparing the accounting difficulties that arise from the use of two valuation methods for biological assets, fair value (FV) and historical cost (HC) accounting, in the agricultural sector. It also compares how reliable each valuation method is in the decision-making process of agents within the sector. By conducting an experiment with students, farmers, and accountants operating in the agricultural sector, we find that they have more difficulties, make larger miscalculations and make poorer judgements with HC accounting than with FV accounting. In-depth interviews uncover flawed accounting practices in the agricultural sector in Spain in order to meet HC accounting requirements. Given the complexities of cost calculation for biological assets and the predominance of small family business units in advanced Western countries, the study concludes that accounting can be more easily applied in the agricultural sector under FV than HC accounting, and that HC conveys a less accurate grasp of the real situation of a farm.RESUMENEste estudio realiza un investigación empírica comparando las dificultades que se derivan de la utilización del valor razonable (VR) y del coste histórico (CH) en el sector agrícola. Se analiza también la fiabilidad de ambos métodos de valoración para la interpretación de la información y la toma de decisiones por parte de los agentes que actúan en el sector. Mediante un experimento realizado con estudiantes, agricultores y contables que operan en el sector agrícola, se halla que estos tienen más dificultades, cometen mayores errores e interpretan peor la información contable realizada a CH que la realizada a VR. Entrevistas en profundidad con agricultores y contables agrícolas desvelan prácticas contables defectuosas derivadas de la necesidad de aplicar el CH en el sector en Espa a. Dadas las complejidades del cálculo del coste de los activos biológicos y el predominio de peque as explotaciones en el sector en los países occidentales avanzados, el estudio concluye que la contabilidad a VR constituye una mejoría de utilización y desarrollo de la contabilidad en el sector que la confeccionada a CH. Asimismo, el CH transmite una peor representación de la situación real de las explotaciones agrícolas.
BASIC AND ALTERNATIVE RULES IN EVALUATION OF TANGIBLE AND INTANGIBLE ASSETS  [PDF]
LUMINI?A RUS
Annals of the University of Petrosani : Economics , 2010,
Abstract: The purpose of this report is to bring to the forefront the basic and alternative national rules in evaluation of tangible and intangible assets approved by the Order of the Ministry of Public Finance no. 3055/2009, compared with the International Standards of Accounting matters and positioning of this accounting treatment in the context of the International Regulations. It also is reviewing fiscal influence of these valuation rules.
THE ACCOUNTING TREATMENT OF THE TOURISM UNIT’S FINANCIAL STATEMENTS IN AGREEMENT WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS  [PDF]
BOGDAN R?VA?
Annals of the University of Petrosani : Economics , 2011,
Abstract: Financial statements should be presented on a going-concern basis unless management intends to liquidate the tourism unit or cease trading. If not presented on a going concern basis, the fact and rationale for not using it should be disclosed. Uncertainties related to events and conditions that cast significant doubt on the tourism unit's ability to continue as a going concern should be disclosed. The Statement of Financial Position provides information about the financial position of the tourism unit and it should distinguish between major categories and classifications of assets and liabilities current or noncurrent distinction. Departure from the requirements of an IFRS is allowed only in the extremely rare circumstance in which the application of the IFRS would be so misleading as to con-flict with the objectives of financial statements. In such circumstances, the tourism unit should disclose the reasons for and the financial effect of the departure from the IFRS.
REVALUATION OF TANGIBLE ASSETS FROM ACCOUNTING AND FISCAL PERSPECTIVES
MARIANA GURAU,MARIA GRIGORE
Challenges of the Knowledge Society , 2011,
Abstract: Acknowledged by the accounting regulations conform to the European directives inside the alternative assessment norms, the revaluation of tangible assets is also accepted by the International Accounting Standards as an allowed alternative treatment. As there is a real interaction between accountancy and taxation, the present study aims to analyze the fiscal vision on the revaluation, the manner in which the above mentioned accepts the revaluation of tangible assets. It is a known fact that the accounting information is used by the taxation as an object and a support in order to determine and to settle the assessments, the taxes and the contributions. Still, the taxation authority reserves the rights to punctually impose some financial treatments distinct to the accounting rules. This also happens with the revaluation of tangible assets, and this is exactly what we emphasize in the present paper.
Documentary Provision of Accounting of Depreciation of Capital Assets of an Enterprise Документальное обеспечение учёта амортизации необоротных активов предприятия  [PDF]
Sazhynets Stepan I.,Trofymchuk Vera Ya.
Business Inform , 2013,
Abstract: The article underlines the role of depreciation in the process of formation of cost of the sold products and taxable profit of an enterprise. It provides a brief characteristic of depreciation methods, envisaged in the Tax Code of Ukraine and national standards of accounting and points at their individual differences and provides algorithms of charging. Specific templates of primary accounting documents are proposed for each of the methods of depreciation of capital assets and examples of their filling are given. В статье подчеркивается роль амортизации в процессе формирования себестоимости реализованной продукции и налогооблагаемой прибыли предприятия. Представлена краткая характеристика методов амортизации, предусмотренных в Налоговом кодексе Украины и национальных стандартах бухгалтерского учета, указано на отдельные их отличия и приведены алгоритмы начисления. Для каждого из методов амортизации необоротных активов предложены специфические формы первичных учётных документов и представлены примеры их заполнения.
Conceptual Fair Value Accounting for Internally Generated Intangible Assets for Bulgarian Companies  [cached]
Rossen R. Petkov
International Business Research , 2011, DOI: 10.5539/ibr.v4n2p51
Abstract: This paper explores some of the conceptualissues related to reporting internally generatedintangible assets at fair value for Bulgarian Enterprises. For the scope of this paper, we evaluate the current accounting framework for intangible assets (both externally and internally generated) and its implications for small and middle size enterprises in the corporate Bulgarian settings. We note that some of the conceptual findings in this paper could be utilized as basis for further comprehensive research on intangible accounting for other countries. In addition, we argue that the principles and guidance for identifying the existence of externally generated intangible assets as a result of business combinations could be adopted for assessing whether internally generated intangible assets exist. That is, we believe thatinternally generated intangible assets can be recognized and presented in the financial statements at their fair value according to applicable accounting standards.
Appreciation Model of a Public Entity Set of Assets in the Accounting System
International Journal of Finance and Accounting , 2013, DOI: 10.5923/j.ijfa.20130202.01
Abstract: The introduction of accraul-accounting in university system has implied the need to explore some critical issues, including how to evaluate and develop property assets. This paper illustrates the solution implemented by the University of Salerno in order to adapt to changes in regulations, even though there are no specific rules and patterns on this subject. This solution, that can be placed within the framework outlined by the most detailed international accounting standards, is based on a model for estimating the depreciated reproduction cost of buildings. The use of this model, implemented in a software that allows automatic revaluation of assets, defines an experience that is submitted to attention of other universities and public entities as possible (best) practice in the management of real estate accounting.
Convergence of Accounting Standards: Internationalization of Accounting  [cached]
Bhagaban Das,Nikhil Chandra Shil,Alok Kumar Pramanik
International Journal of Business and Management , 2009, DOI: 10.5539/ijbm.v4n1p78
Abstract: Accounting has no meaning without standards due to professionalism. The use and application of standards in accounting gets so importance that it will not go wrong if it is termed as a legal discipline. By the time, the world has given accounting the certification of international discipline. So, it is apt to say that as an international discipline, accounting should have a single set of standards for all for harmonizing the practice in a global scenario. But the reality is that we still have various streams of accounting standards like US GAAP, UK GAAP, IAS, and so on. These different streams are the threat for accounting against its harmonization of practices. Though the world has witnessed a lot of initiatives taken to reduce the streams into one in recent years, still we cannot ensure the final sophistication in this regard. The paper focuses on the convergence issue, its current status, challenges with special reference to Indian perspective.
On the International Convergence of Accounting Standards  [cached]
Boka Moussa
International Journal of Business and Management , 2010, DOI: 10.5539/ijbm.v5n4p89
Abstract: The international convergence of accounting standards has become a hot topic in the international accounting field.The convergence is an irreversible developing trend of accounting internationalization development that began many years ago.Accounting,as a world-wide accepted business language,should naturally move towards internationalization.This paper discusses the international convergence of accounting standards focusing on its development stages,necessity and analyse the international status.
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