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Purpose: The purpose is to make reflections from a historical, conceptual and comparative review on goodwill in one hundred years of accounting theory, still considered a difficult topic with the theoretical and normative evolution. Methodology: Theoretical essay produced from an integrative qualitative literature review. It presents the theoretical evolution and challenges observed by theorists and regulators since the seminal study "Accounting Theory" by William Paton (1922). Results: The relevance attributed to goodwill goes far beyond the concepts and criteria for recognition and measurement. Its interpretation and processing are influenced by cognitive aspects, economic interests, and in a moment of economic crisis, debates on the topic are intensified, motivated by stakeholders' concerns, regulators and theorists, the same in one hundred years of evolution. So, the future of goodwill is undefined. Contributions of the Study: The historical and comparative analysis, limited in the choice of the references on the subject, contributes to confirm the subjectivity and absence of conceptual, normative and practical consensus for goodwill, thus there aren't right or wrong among theorists and regulators. The scenario of high volatility in the capital markets during Covid-19 pandemic, for example, arose new theoretical discussions about the quantum and multidisciplinary dimension and the possible return of Accounting practices used in the past. Therefore, the relevance of goodwill requires that not only regulators establish rules, but that theoretical and practical ethically contribute to the debate. [ABSTRACT FROM AUTHOR]

Purpose: The article aims to identify financial and governance factors that can influence the level of disclosure of intangible assets of companies listed on the IBrX-50. Methodology: The study is descriptive, documentary and quantitative, with a sample of 40 companies listed on the Brazilian capital market, totaling 200 observations. The analysis was initially based on the financial statements and explanatory notes released by the companies. To analyze the data, we used multiple linear regression, with SPSS software version 25, relating the factor size, big four audit, profitability, indebtedness, level of corporate governance and internationality with the disclosure index of intangible assets. Results: The results show that from the analyzed factors, only the variables related to size and big four auditing have a significant relationship with the disclosure index of intangible assets. Contributions of the Study: The study contributes by presenting marginal results on evidence of accounting disclosure in the Brazilian capital market, and thus collaborating with the disclosure literature, providing clarity and support for the usefulness of accounting information. In the practical field, it contributes to a better perception of users about the information contained in the financial statements. [ABSTRACT FROM AUTHOR]

This thesis has the objective of analyzing the reference-level variables, using a fundamentalist pricing model, in which the choice is based on no F-score model developed by Piotroski (2000). The stock market is balanced (B3) and the period analyzed comprises the interval of seven years between the 1st quarter of 2010 and the 3rd quarter of 2018. The results show that they are only variables such as TURN, which represents the turnover of assets, and ROA, which indicates return on assets, which is important in the structured fundamentalist pricing model. Despite the unfavorable results, this evaluation shows the importance of accounting variables in pricing assets, considering their influence in the turnover of assets. [ABSTRACT FROM AUTHOR]

This study sought to identify incentives that influence the accounting choices for classifying interest and dividends received or paid in Cash Flow Statements (CFSs), in the period from 2008 to 2014, in non-financial companies of the Brazilian capital market. The hypotheses refer to the effect of the choice of classification for interest and dividends over cash flow from operations (CFO), according to indebtedness, profitability, size, negative CFO, sector, and auditor. This article seeks to contribute by providing evidence on the accounting choices for classification in CFSs, considering the lack of consensus in the results of studies in the Brazilian capital market and helping to better understand these accounting choices and the incentives behind them. A correct understanding of the information in CFSs is fundamental for them to be useful to their users. The existence of accounting choices for classification in CFSs may directly affect this understanding and, consequently, their usefulness. The results help in better understanding the discretion contained in CFSs, enabling the correct use of their information. They can also generate evidence for regulatory bodies to rethink their accounting rules and for academia to direct future research. Two panel data models were developed, using a sample of 352 companies, 2,290 analyzed reports, and 3,764 data items. The results indicate that companies with a greater level of debt, profitability, and size make their accounting choices in order to report higher CFO in the CFS. The evidence obtained reinforces the international findings and adds new analyses in the Brazilian context, contributing to the development of accounting choice theory. [ABSTRACT FROM AUTHOR]

This paper offers a new avenue in contemplating semiology beyond linguistics: it introduces accounting as ' Financial Semiology '. The paper discusses the implications of a semiological theorisation of accounting, particularly in problematising the conventional assumptions underlying two important accounting issues: recognition and measurement of the firm's assets, specifically with respect to the notion of alleged 'representation' of assets and their seemingly 'intrinsic value'. Through two core pillars in Saussure's semiology, re-titled here as 'reciprocal articulation' and 'value constellation', the paper offers an alternative theorisation of such accounting procedures. The paper also shows the implications of such Financial Semiology for the general theory of semiology, and distils its core characteristics as a framework for explicating the non-substantive operation of social sign systems. • Accounting is the one truly extra-linguistic semiology: a Financial Semiology. • Instead of 'representation', accounting manifests semiology's 'articulation'. • Instead of intrinsic value, accounting manifests semiology's 'value constellation'. • Accounting explicates the non-substantive operation of semiological systems. [ABSTRACT FROM AUTHOR]

Motivated by the Saudi Arabian government's objective to diversify its economy away from oil and correct deficiencies associated with the Saudi stock market crash of 2006, a series of significant capital market infrastructure reforms were initiated that began with the 2007 reorganization of the Tadawul Stock Exchange (TSE) and the Capital Market Authority (CMA) as its sole regulator. This paper adds to the growing body of emerging market literature by providing new evidence of the effects of these initiatives on earnings quality for firms listed on the TSE. The results of tests of this study provide robust evidence that earnings quality increased during the 2007 to 2018 reform period. In particular, we document that relative to pre – reform years, reform period R squares, earnings response coefficients (ERCs) increased and discretionary accruals decreased. We rationalize these findings by asserting that improved regulatory oversight in juxtaposition with significant reform period investments into Saudi Arabia's capital markets infrastructure enhanced earnings quality (Jiambalvo et al., 2002; Latif et al., 2017; Zhong et al., 2017). • This paper reviews the effects of reforms on financial reporting quality for Tadawul Stock Exchange-listed firms. • Empirical tests show that earnings quality increased during the 2007 to 2018 reform period. • We document that reform period R squares and earnings response coefficients increased and discretionary accruals decreased. [ABSTRACT FROM AUTHOR]

Taking into account the extremely dynamic changes in the capital market, capital owners and investors need reliable and independent assessment of the financial statements of enterprises that are subject to their interests. Thus, the need for organization and management of internal controls on financial operations of most enterprises imposed by unstable operating environment, everyday challenges and unforeseen changes in growth and development of enterprises, and the risks to which expose them further emphasizes its importance to the effective planning and accounting control. Due to the importance of a given topic, below the implemented work will direct the basic object of research toward realization of empirical goals focused on displaying, explaining and analyzing the structure and implementation of accounting planning and control as a necessary part of the management processes in the operation of a modern company. [ABSTRACT FROM AUTHOR]

This article provides an overview of the International Financial Reporting Standards (IFRS) adopting process in different countries. Special attention has been paid to the processes taking place in the United States. In recent years there have been numerous attempts to assess the impact of IFRS on the developed and developing capital markets, and to use the results of this assessment as arguments in the debate about the effectiveness of regulation of corporate reporting, in particular about the introduction of a mandatory requirement to use global accounting standards. Two main regulatory bodies in the corporate reporting area in the world - The U. S. Securities and Exchange Commission (SEC) and the Board of Trustees of the IFRS Foundation - use the results of academic research based on empirical observations of IFRS use onwards from 2005 to support its position on possible benefits from the introduction of global reporting standards and recommendations on different approaches to the practical implementation of this idea. Analysis of the preparatory process for the adoption of IFRS in the United States is required for error analysis of IFRS implementation in Ukraine. [ABSTRACT FROM AUTHOR]

This study characterizes the results of scientific research on the effect of adopting the International Financial Reporting Standards (IFRS) that have been published in the most prestigious scientific journals in the field of accounting at the international level and it identifies avenues for further research. Based on the analysis of a set of 67 articles published by the accounting journals that make up the Social Sciences Citation Index (SSCI), published between 2000 and 2013, it is concluded that, as a general rule, IFRS adoption has a positive effect on information quality, the capital market, analysts' ability to predict, comparability, and information use. Nevertheless, this effect depends on some factors, such as country' s characteristics (namely, the enforcement level) and companies' characteristics. Sharing rules is not, by itself, enough to create a common business language, and management incentives and institutional factors play a major role in framing the characteristics of financial reporting. Finally, some gaps are identified in the literature and avenues for further research are introduced. [ABSTRACT FROM AUTHOR]

The research in accounting with specific application on capital markets represents a special resort of accounting research. The development of such studies was favored by the evolution and strong growth of capital markets in our daily contemporary life and by the extention of base accounting concepts to international level. In such circumstances, studies regarding the evolution of concepts like value relevance, efficient markets, accounting information and its dissemination, fair value, are welcomed on the field of accounting research with applicability to the capital markets. This study comes to outline some positions regarding this topic of accounting research. [ABSTRACT FROM AUTHOR]

This article shows that an apparent puzzle in finance and accounting is resolved by changing from classical to constructive (more specifically, intuitionistic) mathematics. Our position is that it is unproblematic if real-world actors behave inconsistently with nonconstructive mathematical results. Thus the solution to our puzzle lies in a deeper challenge to the standard view of how rational agents reason. The alternative we propose gives refutable predictions that find support in the empirical capital markets literature. Our main tool, intuitionistic mathematics, plays a similar role in the mathematical philosophy literature to that of ambiguity in decision theoretic work. [ABSTRACT FROM AUTHOR]

The capital market has an important role at the micro and macro economical level, having the capacity to mobilize resources and to place them in a productive manner. The relation between accounting and capital market started to be analyzed from the middle of XXth century, when the investors started to ask more details about the companies' activity and not just general accounting values. The certainty is nowadays a part of the cost of information which is consciously assumed by the users differently in pre-crisis and crisis time. Informational asymmetry plays a double role through the participants on the capital market: positive one for those who use the lack of information of others with economic responsibility and negative when information holders use them to affect the other participants or users. This paper seeks to examine the impact of financial information on the level of the capital value of the companies in order to evaluate the influence and to establish the measures that must be applied to reduce the asymmetries between different users of that information. [ABSTRACT FROM AUTHOR]

A number of scientific publications and data bases that participate inadequately in forming the systems of financial reporting about which there are diverse comparative researches deal with factors and their influence on specific qualities of forming the accounting systems. The research results can be summed up in two interval groups. The first interval comprises a research emphasizing one factor i.e. the research in which a number of diverse factors are taken into account. Based on researched publications concerning the influence of social factor on accounting development some of the general factors comprise legal system, capital market, political and economic system, inflation rate, position of accounting profession, tax system and culture. The paper deals with the factor of influence of capital market and financing source on financial reporting practices diversity. [ABSTRACT FROM AUTHOR]

With each new fraud and 'audit failure' divulged in the financial press, more pointed questions are being asked about the value of the independent audit. Although many recognize that the audit profession plays an essential role in the functioning of the global capital markets and adds value to the roles played by other stakeholders in the financial reporting process, others contend that the value of the independent audit, and the measure of its relevance to investors, is measured only by the absence of fraud or failure of the business once the audit is complete. Discussions of audit quality tend to occur in the context of alleged audit failures, without recognition that the vast majority of audits stand the test of time. In answering the question 'how and why an independent audit matters', we have considered the explicit value of the final audit report and the importance of the consultative audit process. In addition, we have highlighted the fact that each of the principal players has a responsibility in the financial reporting and governance regime; that complementary interplay and responsibility to the investing public is essential to help promote investor confidence through reliable financial statement information. Financial reporting must continue to evolve to meet the needs of financial markets in the new world, whether that includes movement toward more real-time reporting with ever-changing technology or toward more principles-based standards. Independent auditors have and will continue to focus on improving performance, which is essential to effectively execute quality audits that contribute to the reliability of more timely and more useful financial information. In addition, it is essential that auditors continue to be positioned to provide assurance on financial reporting, in any format. As we move toward a set of global standards (accounting, auditing and independence), the value of the independent audit will continue to increase in influence as an element of efficiently functioning global capital markets affecting investors around the world. The views expressed in this article are those of the authors and do not necessarily reflect those of Deloitte LLP or any other organization with which they have been associated. [ABSTRACT FROM AUTHOR]

Independent accounting standards that are aimed at providing relevant, transparent and unbiased financial information are of prime importance to our reporting system, our capital markets and our economy. Much of the discussion about accounting standards and the economic crisis seems to confuse our role of helping to provide investors and the capital markets with relevant and transparent information on the performance and financial condition of financial institutions (along with other companies) with the regulatory need to ensure the safety and soundness of financial institutions and the stability of the financial system. While these tasks often overlap, they are not the same, and the setting of accounting standards (that is, Generally Accepted Accounting Principles, GAAP) and the setting of regulatory capital and reserves should be decoupled so that one does not drive the other. In this article I discuss some of the key issues in these debates, including concerns about ‘procyclicality’. I also offer some thoughts on why reporting both fair value information and amortized cost information might help bridge this divide by providing investors and regulators with better, more timely insights on the performance, financial condition and underlying risks at financial institutions, without eliminating traditional measures of net income and earnings per share and while also allowing regulators to independently establish regulatory capital requirements. [ABSTRACT FROM AUTHOR]

More than 10 years have passed since trusted computing (TC) technology was introduced to the market; however, there is still no consensus about its value. The increasing importance of user and enterprise security and the security promised by TC, coupled with the increasing tension between the proponents and the opponents of TC, make it timely to investigate the value relevance of TC in terms of both capital market and accounting performance. Based on both price and volume studies, we found that news releases related to the adoption of the TC technology had no information content. All investors, regardless of whether they are individual investors or institutional investors, or they are wealthy individual investors or less wealthy individual investor, all have similar views on the value of TC. Further, we show that the accounting benefit gained from the adoption of TC is trivial, which might explain the price invariance and volume invariance we observed in the stock market. [ABSTRACT FROM AUTHOR]

In Turkey, the companies quoted to İstanbul Stock Exchange (IMKB) have to prepare two different financial statments; the first which is offered to shareholders for disclosure purposes is prepared according to Direction Serial XI No.25 of "Capital Market Board of Turkey" whereas the second which is offered to Ministry of Finance for tax purposes, has its basis on current laws and regulations. The purpose of this study is to find out the sources of the differences (if exists any) between the financial statements specially income statements presented to shareholders and to Ministery of Finance for the period between 2005-2007. The study is composed of two parts; in the first part, all the manufacturing companies both those that make consolidation and those that do not, are examined whereas in the second part only the companies that do not have consolidation requirement are studied. It is found in both parts that significant differences exist between the financial statement presented to shareholders and those presented to Ministry of Finance for all three years. The sources of the differences are found to be the variations in accounting applications and policies of 5 items which are depreciation of intangible assets, allowance for bad debts, accounting of employee benefits, accounting of borrowing costs of capital investments and discounting of financial assets and debts. [ABSTRACT FROM AUTHOR]

The most important point for Capital Markets Board, based on the main objectives of fair, orderly functioning of the markets and protecting the rights of investors, is public disclosure. To achieve these goals, financial statements have a great importance. Using a specific format in preparation of financial statements to minimize the asymmetric information problem among financial statement users and senior managers and to make clearer the financial statements is a requirement. Financial statements have to be considered a whole with their footnotes and explanations. Footnotes are special standardized information notes at the end of the statements, which are not be able to show in balance sheets and income statements. The need to know this information by public makes these footnotes more important. From its foundations, CMB issued several communiqués on the subject of financial statements. The first of all these communiqués in 1983, Serial VIII No: 2, only the balance sheet footnotes were regulated, the income statements footnotes were not mentioned. The importance of these footnotes which were not mentioned in the communiqué issued in 1984 were understood in time and since 1989 the footnotes have been regulated in detail. The aim of this study is to show the development of financial statement footnotes from the foundation of CMB to today. To achive this object the CMB communiqués are examined and evaluated. [ABSTRACT FROM AUTHOR]

This paper examines the existence of conservative practices in the Portuguese accounting system, and whether these conservative practices affect the comparability of financial information provided by companies. We particularly examine whether the book value figure can be understated due to conservative practices to protect creditors' interests (balance sheet conservatism) and whether accountants delay the recognition in earnings of good news, while they recognize immediately bad news (earnings conservatism). Using a Basu (1997) type reverse regression and a simple adaptation of the Ohlson (1995) valuation model, the paper gives evidence concerning the existence of both definitions of conservatism in Portuguese accounting practices. A sample of non-financial Portuguese, German and British companies was used. Our results also show the larger earnings conservatism of British firms relative to Portugal and Germany, and surprisingly, that Portugal is more BS (larger understatement of shareholders' equity) conservative than the United Kingdom. The results have implications for accounting standard setting and they can be useful for both the European Commission and the IASB since they provide some insight into the properties of accounting figures in Portugal. [ABSTRACT FROM AUTHOR]

This empirical-analytical study investigates the role of accounting as a source of information to the Brazilian capital market. It aims to verify whether the accounting disclosure level provided by Brazilian entities is related to the volatility of their share prices on Bovespa (Brazilian Stock Exchange). Entities with greater accounting disclosure level are expected to present lower volatility of their stock returns. To analyze the relation between disclosure level and stock price volatility, we collected information published by 42 companies listed on Ibovespa, using the annual reports for 2002. After segregating these companies into three different groups in accordance with their specific disclosure level, using cluster analysis, we statistically verified the existence or not of significant differences between their disclosure and stock price volatility levels. The analyses indicated that the companies with better average accounting disclosure presented lower mean volatility levels, while the cluster with worse average disclosure presented higher mean volatility levels. This evidences that higher average disclosure levels result in lower mean volatility of stock returns. [ABSTRACT FROM AUTHOR]

Financial Accounted for the importance of the investment information of the capital adequacy ratio of listed companies in India's Stock Exchange. Accounting information variables, accounting for common stock, it has been used to establish the meaning of the investment information. Equity investment is considered to be one of the best investment channels in India. India's capital market has witnessed significant growth. A study on the effects of the financial information of the equity investment decision-making making. Roles and responsibilities in the measurement, Financial Investors Social and Environmental Return (FISER), and a clear subjective interpretation of environmental benefits are intended to conflict with the premise of the adopted by the other old traditional measurement. The financial information, objectivity and flexibility, impact resistance of the financial attribution and the concept of the actual measurement. Investors, investment in financial information, it will not be familiar with the kind of strong influence thinking in the company's quarterly reports. They are in professional and non-professional investors making investment decisions, in an attempt to better understand the information, our research results, provide useful information to managers and influence the design of experimental research and, financial reporting, use the user type of standard setters and financial information's. [ABSTRACT FROM AUTHOR]