Search

This article examines the role of fair value gains or losses related to Level 3 valuations in CEO cash compensation for U.S. financial firms. Our results show that Level 3 income is compensation-relevant. By separating Level 3 income into unrealized and realized Level 3 income, we find that CEO cash compensation is less sensitive to unrealized than realized Level 3 income, which indicates that compensation committees have a higher concern for the clawback problem associated with unrealized Level 3 income. A further analysis separating Level 3 income into positive and negative components shows that Level 3 losses are more compensation-relevant than Level 3 gains, thereby validating the argument that Level 3 losses are more credible than Level 3 gains. Overall, we find that Level 3 income is relevant for CEO cash compensation and that this phenomenon is mainly driven by its realized and loss components. [ABSTRACT FROM AUTHOR]

This article examines equity market perceptions of fair value reporting for tangible assets. We identify six events—four designated as increasing, two as decreasing—affecting the likelihood of U.S. adoption of fair value reporting for investment property (i.e., real estate) assets, one of the largest asset classes in the world. Fair value adoption in the United States would facilitate convergence of one of the widest remaining disparities between U.S. reporting and International Financial Reporting Standards (IFRS): accounting for tangible investment property assets, where the United States (IFRS) requires depreciated historical cost (recognized or disclosed fair values). Using a sample of U.S. investment property firms, we document an average positive market reaction for movement toward fair value reporting. We further find predictable cross-sectional variation, with the market reaction increasing for firms with greater commitment to high-quality reporting, greater investor demand for fair values, higher financial risk, and staler asset values. Overall, the results are consistent with U.S. equity markets perceiving net benefits to movement toward a fair value reporting approach for this asset class. [ABSTRACT FROM AUTHOR]

This study examines the economic implications of fair value liability gains and losses arising from the adoption of Statement of Financial Accounting Standards No. 159 (hereafter, FAS 159). We find a positive correspondence between a firm's FAS 159 fair value liability gains and losses and current period stock returns, consistent with the notion that these gains and losses are priced by equity investors. However, further analysis indicates that fair value gains and losses from liabilities have a statistically significant negative association with future returns, suggesting that investors misprice this earnings component and subsequently correct the mispricing. We also find that the negative association for fair value gains is stronger for firms with lower levels of institutional ownership. [ABSTRACT FROM AUTHOR]

Cryptocurrencies and blockchain technology are disruptive innovations at the vanguard of a new wave of the digital revolution. The far-reaching appeal, global reach, unprecedented mobility of capital, and multitude of trading venues have created a marketplace like no other. The economic fundamentals underlying this market are yet to be fully comprehended, as evidenced by the often-contradicting guidelines recommended by accounting firms, government agencies, and standard setters. Many of the definitions and models used for classical markets cannot be applied directly to cryptocurrency. Basic concepts must be reinterpreted, and models must be modified to fit the mechanics of these markets. In this article, we focus on one such concept: that of fair value. We argue that in light of the fragmentation of cryptocurrency markets and the global dispersion of trading venues, a principal market may be difficult to identify. The primary objective of this article is to present a methodology to dynamically designate principal markets and derive fair value prices for financial reporting using this designation. [ABSTRACT FROM AUTHOR]

This study investigates the valuation of fair values in extreme market conditions. Using a modified Ohlson model and a large US sample, this study finds that the valuation of fair values in extreme market conditions is consistent with the presence of a positive feedback loop bias. This bias manifests as irrational exuberance in overheated markets and undue panic in depressed markets. The results are robust under several different test designs. Additional tests of moderating factors show that good performance and low risk intensify irrational exuberance in overhead markets, and poor performance and high risk worsen undue panic in depressed markets. [ABSTRACT FROM AUTHOR]

While measurement is a fundamental process to the preparation of financial statements, the conceptual frameworks established by both the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) offer limited guidance on selecting an appropriate measurement basis for assets and liabilities. This paper examines the historical progression of fair value measurement, a measurement basis that is at the centre of some of the most polarising views. We believe that understanding the evolution of fair value measurement is pivotal for aiding academics and practitioners in shaping the future trajectory of measurement. This is particularly crucial given the technological advances in corporate reporting and the need to enhance the connectivity between financial and non-financial reporting. [ABSTRACT FROM AUTHOR]

During the era of New Public Management from the 1970s to the 1990s, government accountability in Australia underwent a significant transformation from compliance to performance evaluation. This change underscores a Machiavellian interpretation presented in this paper, emphasizing the politicized and power‐driven nature of public sector accounting reforms. The Australian Government employed a commercial accounting model to legitimize these reforms, leveraging Machiavellian principles to strengthen political power. Despite the accounting profession's role in legitimizing public sector financial reporting, its control over Australian accounting standard setting diminished. The new public sector accountability framework allowed the shifting of blame to the profession when problems arose. An analysis of the New South Wales Government's journey through the reform, from embracing accrual accounting to rejecting heritage assets measurement and applauding fair value, illustrates the complex interplay between self‐interest and the protection of public interest. The Australian Government strategically enlisted the support of the outer fringe accounting profession and successfully instituted reforms premised on the principle of public accountability and liberty for Australian society. Once the reformer's goals were achieved, the facilitating elites found themselves marginalized from the bureaucratic group and power reclaimed deftly to the Government with CLERP reforms paving the way for the adoption of International Financial Reporting Standards. This shift exemplifies Machiavelli's perspective, where liberty is used as a means to garner public support and ultimately attain power, a strategy that continues to hold validity in contemporary political contexts. [ABSTRACT FROM AUTHOR]

Copyright of Die Unternehmensbesteuerung (Ubg) is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Catastrophe (CAT) bond markets are incomplete and hence carry uncertainty in instrument pricing. Various pricing approaches have been proposed, but none treats the uncertainty in catastrophes and interest rates in a sufficiently flexible and statistically reliable way within an asset valuation framework. Consequently, little is known empirically about the expected risk premium of CAT bonds. The primary contribution of this article is to present a Bayesian CAT bond valuation framework based on uncertainty quantification of catastrophes and interest rates. We leverage this framework to estimate fair value prices and expected risk premiums for CAT bonds with varying catastrophe risk profiles. [ABSTRACT FROM AUTHOR]

The concept of fair value, defined by the valuation of assets and liabilities at their current market worth, remains central to the International Financial Reporting Standards (IFRS) and has persisted despite critiques intensified by the 2008 financial crisis. This valuation method continues to be prevalent under both IFRS and the US Generally Accepted Accounting Principles (GAAP). The adoption of IFRS has notably enhanced the role of accounting in information analysis, vital for owners who prioritize both secure accounting practices and reliable data for strategic management decisions. Real estate, a significant business asset, has long been a focal point in accounting discussions, prompting extensive research into the applicability and effectiveness of various accounting standards. These investigations assess the adaptability of standards based on property type, utility, and valuation techniques. However, the challenge of accurately determining the fair value of real estate remains unresolved, signifying its importance not only in the corporate manufacturing realm but also among development companies striving to manage property values efficiently. This study addresses the challenge of accurately determining the fair market value of real estate in Kazakhstan, leveraging a multi-methodological approach that encompasses statistical models, regression analysis, data visualization, neural networks, and particularly, an Adaptive Neuro-Fuzzy Inference System (ANFIS). The integration of these diverse methodologies not only enhances the robustness of real estate valuation but also introduces new insights into effective asset management. The findings suggest that ANFIS provides superior precision in real estate pricing, demonstrating its potential as a valuable tool for strategic management and investment decision-making. [ABSTRACT FROM AUTHOR]

This study examines the impact of engaging valuation specialists on the value relevance of Level 3 fair value measurements (FVMs) within the auditing process. Through an analysis of a sample of international commercial banks over the period from 2016 to 2019, this study reveals that both Level 1 and Level 2 FVMs are generally value relevant, regardless of the involvement of valuation specialists in the auditing process. However, the value relevance of Level 3 FVMs appears to be contingent upon the auditor's utilization of valuation specialists during the audit of these measurements. The findings of this study indicate that, notwithstanding the concerns highlighted in prior research, investors tend to hold the conviction that valuation specialists can make a substantive and positive impact on the auditing process, thereby enhancing the value relevance of Level 3 FVMs. Data Availability: Data are available from the public sources cited in the text. JEL Classifications: G21; M41; M42. [ABSTRACT FROM AUTHOR]

The purpose of this study is to clarify the prospects for the creation of a new reserve currency by the (Shanghai Cooperation Organization (SCO) countries to reduce foreign exchange costs in trade transactions, to strengthen integration processes in the Eurasian space, to increase the investment potential of developing Asian countries and to stimulate sustainable economic growth. The paper presents the results of mathematical modeling of the optimal portfolio structure of collateral assets with the possible issuance of a new reserve currency by the SCO countries. The article concludes that currently the best reserve assets that have been analyzed are the Chinese yuan, Indian rupee and gold. The expected return of the new reserve currency does not depend on fluctuations in the global foreign exchange market, and its calculated risk (standard deviation of return) turned out to be lower than the risk of fluctuations in the value of the yuan and gold. The article concludes that gold is the best collateral asset, as it has a stable positive yield, constant purchasing power and a fair value that is 4 times higher than the market value. It is proposed to issue a new reserve currency in the form of stablecoins so that it incorporates all the best properties of cryptocurrencies and fiat money

In Estate of Blount, the 11th Circuit Court of Appeals held that life insurance proceeds used to redeem a shareholder's shares are not counted in the fair market value of the company when valuing those shares. Given the very different conclusions reached by the 11th Circuit in the Blount case and the 8th Circuit in the case of Connelly v. United States, if it is not feasible for shareholders to have a cross-purchase agreement, having an insurance-funded stock-redemption agreement may present a valuation challenge. The larger exemptions now applicable under the estate tax law may insulate many owners of closely held businesses from valuation concerns. However, those owners of corporations who are concerned about estate tax planning should seek the advice of qualified appraisers and attorneys to structure a buy-sell agreement and a business appraisal that takes into account insurance funding if a stock-redemption format is the owners' preference. [ABSTRACT FROM AUTHOR]

This paper investigates algorithms for identifying the optimal policy for pricing American Options. The American Option pricing is reformulated as a Sequential Decision-Making problem with two binary actions (Exercise or Continue), transforming it into an optimal stopping time problem. Both the least square Monte Carlo simulation method (LSM) and Reinforcement Learning (RL)-based methods were utilized to find the optimal policy and, hence, the fair value of the American Put Option. Both Classical Geometric Brownian Motion (GBM) and calibrated Stochastic Volatility models served as the underlying uncertain assets. The novelty of this work lies in two aspects: (1) Applying LSM- and RL-based methods to determine option prices, with a specific focus on analyzing the dynamics of "Decisions" made by each method and comparing final decisions chosen by the LSM and RL methods. (2) Assess how the RL method updates "Decisions" at each batch, revealing the evolution of the decisions during the learning process to achieve optimal policy. [ABSTRACT FROM AUTHOR]

The article analyzes the failure of the taxpayer in Connelly v. United States and its impact on business succession and estate tax planning. It summarizes the U.S. Supreme Court's opinion on the value of corporate-owned life insurance policy on the decedent's life and shares redemption when determining corporate shares value for estate tax purposes. It discusses the effect of purchase agreements on the valuation of life insurance proceeds in determining the fair market value of a business.

This study analyzes a model in which intellectual property (IP) that generates uncertain future cash flows is sold by a U.S. parent to a foreign subsidiary. The parent has private, imperfect information regarding the value of the IP. The study compares the firm's expected tax and penalty payments under the commensurate with income (CWI) standard to the payments under the fair value method, in which the transfer price is the expected value of the IP using all the facts publicly available after the value is realized. It compares payments under both methods to the payments using the fair private price, which is the value of the IP on the date of sale given the parent's private information. Expected tax and penalty payments using the fair private price are strictly less than expected payments under the CWI standard and are strictly greater than expected payments under the fair value method. [ABSTRACT FROM AUTHOR]

Purpose: The current study investigates the impact of directors' attributes on the extent of compliance with International Financial Reporting Standards (IFRS) fair value disclosure requirements. The attributes investigated include directors' human capital (accounting qualification) and social capital (political association), directors' share ownership and the power distance between the chief executive officer (CEO) and the rest of the board members. Design/methodology/approach: The study uses disclosure analysis to measure the extent of compliance with the fair value disclosure requirements of IFRS. Ordinary least squares (OLS) regression is used to test the relationship between the disclosure score and directors' attributes. Data were collected from the annual reports and websites of the sample companies. Findings: Contrary to conventional belief, this study's findings suggest that directors' social capital and the power distance between the CEO and the rest of the board act as more powerful factors than directors' human capital in explaining corporate mandatory disclosure. Specifically, the results indicate that powerful actors form a dominant coalition and co-opt influential constituents from the institutional domain to neutralize the effect of legal coercion and the accounting expertise of board members and Big Four audit firms on the extent of compliance with institutional (fair value) rules. Research limitations/implications: This study utilizes Oliver's (1991) framework of strategic response to institutional processes in the Bangladeshi context. Although the study provides new insights into corporate disclosure practices, findings are not generalizable due to different institutional settings in different countries. Therefore, future studies could replicate the approach in different institutional settings. Practical implications: The findings of this study will be of interest to the International Accounting Standards Board (IASB) as it focuses on a developing country that has adopted IFRS 13 and other fair value-related standards relatively recently. Originality/value: The disclosure analysis contained in this study represents the first comprehensive analysis of the extent of compliance with the fair value disclosure requirements of IFRS. Furthermore, this study considers the impact of directors' social capital and finds that it is a more powerful determinant of the extent of compliance with IFRS as compared to human capital. [ABSTRACT FROM AUTHOR]

Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper evaluates whether the relevance of investment properties measured using Level 3 inputs is impacted by the assumptions underpinning the determination of fair values. Evidence is provided of investors generally finding investment property fair values determined with Level 3 inputs to be relevant, and the values are not discounted in market price. However, this is not the case when there is evidence of firms using optimistic assumptions in the determination of fair values. Specifically, there is a material price discount of recognized investment property values as well as fair value gains for these observations. Our research setting of real estate investment firms has several advantages as these firms typically have as their major assets investment properties whose fair value and rental income can be observed from financial reports. This allows investors to easily infer and compare the key valuation assumptions as captured by the capitalization rate. The implication for more general circumstances where valuation assumptions cannot be inferred from financial reports is that detailed disclosures of assumptions are necessary for users to assess the reliability of fair values determined with Level 3 inputs. [ABSTRACT FROM AUTHOR]

The analysis presents the effects and supervisory experience of the transition to IFRS 17 applicable to the insurance sector from 1 January 2023. The new standard is significant as it sets out a harmonised methodology for insurance contracts based on fair value, which is also the greatest challenge. It is estimated that the sector spent HUF 13.5 billion between 2018 and 2023 to prepare for IFRS 17. Three insurers report under IFRS: the accounting policies of these companies have changed significantly, and the transition has resulted in an overall increase in their equity. Twelve other insurers belonging to international groups prepare IFRS calculations for the group accounts. The application of IFRS 17 mainly affects these entities in terms of business plans and performance measurement. For these institutions, the analysis of IFRS calculations showed that the impact on equity varies in direction and magnitude, but that overall the application of IFRS would result in an increase in equity. [ABSTRACT FROM AUTHOR]

Copyright of Electronic Turkish Studies is the property of Electronic Turkish Studies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Synopsis The research problem This study investigates whether the debt structure of a firm — that is, how a firm organizes its debt contracts — depends on the extent to which fair value measurement is applied to the balance sheet. Motivation Most public firms have a nontrivial percentage of balance sheet items measured at fair value under the mixed attribute accounting, and there is a lack of understanding of its effect on the reporting entity's debt structure. This study focuses on two aspects of the debt structure that have both practical and theoretical relevance, namely the priority structure and the financial flexibility. A priority structure involves the simultaneous use of different priorities of debt and is common among risky borrowers. Survey results show that financial flexibility is of first-order importance regarding the debt policy of firms. Here, financial flexibility refers to a firm's ability to pursue new investment opportunities via debt issuance. The test hypotheses The first hypothesis states that a borrower with a higher percentage of balance sheet items measured at fair value is less likely to have a priority structure. The second hypothesis states that a borrower with a higher portion of balance sheet items measured at fair value likely has a debt structure that is more financially flexible. The third hypothesis states that the fair value of liabilities and the fair value of assets are equally relevant to debt structure decisions. Target population This study focuses on nonfinancial firms in North America that are subject to the mixed attribute accounting, which measures a certain percentage of assets and liabilities at fair value. Adopted methodology The main tests use multivariate analysis that includes both logistic regressions and OLS regressions. Additional tests include cross-sectional analyses and the Granger causality test. Analysis Using a sample constructed from Compustat North America and Capital IQ (6,220 firms and 36,487 firm-year observations), the main tests regress dependent variables, namely the priority structure measures and financial flexibility, on the exposure to fair value measurement. Findings Results show that fair value measurement reduces information asymmetry and has favorable effects on the debt structure. A high exposure to fair value measurement reduces the need for a priority structure. A high exposure to fair value measurement also enhances financial flexibility. Additional analyses reveal that the favorable effect mainly comes from assets measured at fair value. The effect becomes weaker with respect to liabilities measured at fair value. [ABSTRACT FROM AUTHOR]

To the best of our knowledge, this article is the first to present a conceptual approach for a private market-based direct index. Based on the growing data availability of capital table management vendors, the authors propose a new way of determining a start-up's fair value. Using hedonic methods as an enabler, the authors consider changing value-determining components, thus creating a dynamic valuation model. Finally, the authors outline several implications for the index constituents, such as increased information efficiency and benefits from decreasing capital costs. In this way, the authors introduce a new niche for direct indexing (DI) applications that pressures indexing vendors and creates extended investment diversification opportunities for preliminary institutional investors. This allows the creation of major benchmarks that act as private equity (PE) proxies. [ABSTRACT FROM AUTHOR]

Copyright of Financial & Business Studies Journal / Maǧallaẗ Al-Dirāsāt Al-Māliyyaẗ wa Al-Tiǧāriyyaẗ is the property of Beni Suef University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Business Studies Journal / Maǧallaẗ Al-Dirāsāt Al-Māliyyaẗ wa Al-Tiǧāriyyaẗ is the property of Beni Suef University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper discusses several issues that were raised by the International Accounting Standards Board (IASB) in their request for information for the post-implementation review (PIR) of the International Financial Reporting Standard (IFRS) 9: Financial instruments – Classification and Measurement. In doing so, we first review the related academic literature and present empirical evidence on the post-adoption impact of IFRS 9. We then discuss conceptual issues associated with the business model and cash flow characteristics assessment in IFRS 9, as well as issues associated with the presentation of fair value changes in other comprehensive income (OCI) and modifications to contractual cash flows. Finally, we identify gaps in the literature and provide suggestions for future research that can help inform accounting standard setters. [ABSTRACT FROM AUTHOR]

Students reasonably assume that financial reporting provides useful insights into financial performance. Alaska Gold is an instructional case that is based on a disguised real-world company, where reported GAAP-based financial statements obfuscate the firm's underlying economics. The Company mined gold for its first two years of operations but reported zero gold revenue for each of these years because it did not sell any. In the third year, the Company sold all of the gold mined to date—and reported gold revenue and related cost of gold sold. Students use publicly available data to prepare an alternative analysis that unveils the economics of what really happened to Alaska Gold in each of the three years 2017–2019. The situation helps students appreciate that accounting rules, business models, managerial discretion, and economic context are important to understanding and evaluating financial performance. [ABSTRACT FROM AUTHOR]

Copyright of Arab Journal for Scientific Publishing is the property of Research & Development of Human Recourses Center (REMAH) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Aim and Background. This study aims to explore alternative diagnostic methods to assess thyroid function in patients unable to undergo blood tests for thyroid-stimulating hormones (TSH) and thyroxine (T4), such as individuals with trypanophobia, severe medical conditions, or coagulopathy. Considering the impact of thyroid dysfunction on mitochondrial metabolism and the essential role of proper mitochondrial function in ciliary motility, we postulate that assessing nasal ciliary function could serve as a surrogate diagnostic approach for thyroid dysfunction. Methods. This cross-sectional study was performed on individuals with no history of thyroid diseases. The primary endpoint was the diagnostic value of the nasal mucociliary (NMC) test using Iranica Picris (Asteraceae) aqueous extract in differentiating hypo- or hyperthyroidism cases from euthyroid cases. Results. 232 individuals were recruited (71% females, 86% euthyroid). Receiver operating characteristic (ROC) analysis showed a good diagnostic value for the NMC test in differentiating overt hypothyroidism (area under the ROC curve [AUROC] = 0.82, p = 0.004) and its fair value in diagnosing subclinical hyperthyroidism (AUROC = 0.78, p = 0.01) from the euthyroid condition. The NMC test had a significant positive correlation with TSH (r = 0.47, p < 0.001) and a significant negative correlation with T4 (r = −0.32, p < 0.001). The NMC rate was significantly different in distinct thyroid function groups (p < 0.001). Compared with euthyroid cases, the post-hoc analysis showed that the NMC test is significantly higher in overt hypothyroidism (15.06 vs. 21.07 min, p = 0.003) and significantly lower in subclinical hyperthyroidism (15.05 vs. 10.9 min, p = 0.02). Conclusions. The Iranica Picris-based NMC test might serve as a diagnostic method to distinguish overt hypothyroidism and subclinical hyperthyroidism. [ABSTRACT FROM AUTHOR]

The Development District Company of Medan Sub Unit Zoo is a service company which is managed by the Government of Medan, it is equal to another service company, The Development District Company of Medan Sub Unit Zoo must present annual financial statement dealing to financial position, performance, and the change of financial position in according to the valid Standar Akuntansi Keuangan (SAK) in Indonesia. However the published financial statement of The Development District Company of Medan Sub Unit Zoo year 2015 and 2016 does not reflect the characteristic of appropriate qualitative financial statement yet with SAK. The animal in the zoo can be identified as company asset, but cannot be categorized yet as an asset, whether current asset, fixed asset or non-fixed asset. Another phenomenon is some animals cannot be detected their own fair value, because those animals are not for trade and have no market price. The animal has similar characteristic with fixed asset, but the estimation assessment of depreciation percentage and amortization, useful life and residue value cannot be measured yet trustfully. By the phenomenon, the problem comes up that is measurement (identification, categorization, and the assessment of economy transaction) so that it is enable for animal cannot be presented in the financial statement. Hopefully the applied method can help in resolving the problem of this research, so the long-term goal of this research can give the policy recommendation in three subject matters; first the implementation of PSAK 69 adopted from IFRS 41 concerning biological asset; second, the implementation of PMK No. 247/PMK.06/2014 concerning the fixed asset; and third the implementation of UU (regulation) No.36 year 2008 concerning Income tax. Based on the observation result, it is acquired that animal collections as many as 38 animals, each consists of 20 species for aves class, 11 species for mammals and 7 species for reptile. According to UU No. 5 year 1990, PP No. 07 year 1999 and PP No 08 year 1999 there are 21 protected animals, so that the fair value cannot be determined, but the unprotected animals and the category of cite appendix II as many as 10 animals can be determined due to enable to be traded. [ABSTRACT FROM AUTHOR]

Pig production in La Maná canton is vital both economically and socially, providing essential food and benefiting from competitive advantages such as its location, favorable soil, and low production costs. The industry seeks to produce quality meat to meet national demand at affordable prices, improving techniques and economic aspects to compete effectively. This study applies International Accounting Standard 41 (IAS 41) to the costing of the pig production process in La Maná, through a descriptive and analytical study conducted in 2023. Using real data and validated surveys, production costs were evaluated in small producers from Pucayacu, Guasaganda, and Esperanza, focusing on breeds such as Landrace x Pietrain, Landrace x Duroc, and Landrace x Criollo. Key costs of feeding, veterinary care, labor, and other operating expenses were identified. The data were analyzed using Excel, ensuring accuracy and consistency. The application of IAS 41 allows for the measurement and recognition of biological assets at fair value less costs to sell, ensuring transparency and comparability in financial reports. The analysis showed that the operating cash result was $3,601.20, and the net accounting result, including fair value, was $6,352.40, highlighting the importance of effectively managing costs and recognizing changes in fair value to maximize financial performance. The implementation of IAS 41 in La Maná not only improves accounting accuracy but also provides a solid basis for strategic decision-making, recommending rigorous cost management and the adoption of advanced technologies for tracking pig production. [ABSTRACT FROM AUTHOR]

When an offense is committed by unknown persons one of the biggest tasks for investigating agencies is to find the real culprits through different techniques. Identification is the most important part of criminal law, as it identifies any person or thing. An identification parade is used to find out a person who is unknown and involved in any criminal activity. This procedure is used all over the world to identify the real offender of a crime. In Pakistan, this is widely used to identify the criminals. To provide justice and equality in a society, following the proper laws and upgrading them according to the modern period is highly important. It is highlighted in this paper, whether these methods are adequate in this modern era when the offender uses the latest technologies and gadgets while committing the offense. This research paper will focus on pre-identification methods such as digital line-up, photographic identification, geofencing, and video identification and post-identification methods including IRIS scan, DNA, fingerprint comparison, and facial recognition technology have enhanced the reliability of the identification and their reliability, effectiveness, and potential for improving justice outcomes and what types of amendments are required in statutes to make them more efficient. [ABSTRACT FROM AUTHOR]

To recognize elements in financial statements, it is necessary to establish monetary value. This is achieved only through the process of measurement that requires the selection of the appropriate basis and method. The main difference between the basis and methods of measurement used under IPSAS and IFRS is the applicability of fair value. Fair value can be difficult to use in the public sector, due to the following reasons: Many assets are stored for current operating use, and it is impractical to get a selling price;  If the asset cannot be sold, the costs of revaluating the asset may outweigh the benefits of the revaluation; and  Many assets are either specialized or limited, which means there is no market for the, making it difficult to determine fair value. Prior to the change, fair value was not offered as a basis for measurement on the conceptual basis of public sector financial reports, even though many IPSAS inclused fair value in measurement-related requirements or alternatives. Neither fair value nor market value is such a measurement that is determined taking into account the specifics of the entities. Both are market data-based measurements. Therefore, existing models of measurement could not guarantee the valuation of the non-financial assets that the entities hold for their service potential, which was a challenge in the public sector. In response to this problem, IPSASB made changes to the conceptual frameworks which was issued in an updated form in May 2023. Updated conceptual frameworks, by eliminating unused measurement methods and increasing focus on those that are widely used in the financial statements of an entity, simplify the principles of valuations. In order to bring the changes in the conceptual frameworks in line with the measurement standards, IPSASB issued a new standard in May 2023 -IPSAS 46 "Measurement~, which will come into force from 01 January 2025. The standard considers current operational value, cost of fulfillment, and fair value as methods of current value measurement With these changes, IPSAS recognizes the role of fair value in the valuation of public sector assets and allows its use. But, the use of fair value is not considered successful in measuring assets that are tailored to specific operating requirements in the public sector. Most of these assets have specific characteristics and are almost impossible to acquire or sell in open, active and organized markets. In light of this fact, the IPSASB has developed a unique measurement base that does not exist in IFRS, called current operational value. The current operational value is determined by the amount the entity will pay for the remaining potential of the asset during the expected period of use after the date of measurement. Its main purpose is to show the value of functioning of a non-financial asset as a public entity The current operational value provides financial information on assets and associated depreciation and amortization at the measurement date, using updated data. Therefore, it reflects changes in the measurement of assets from the previous measurement date. Like fair value and cost of fulfillment the current operational value does not depend, even in part, on the transaction or event to which the creation of the asset is associated. The operational Opportunity measurement provides information on the economic benefits that are obtained from the use of assets for operational purposes. It does not correspond to the measurement of the financial capacity of an asset, since such a measurement is not relevant to assets that will have the most valuable potential in providing services by continuing to use them. The operational value is measured by the amount that the dentity would pay:  To acquire the identical, or a similar, asset in an active market; or  For the t costs that would be incurred to develop or produce the identical, or a similar, asset Thus, market and cost approaches can be used to measure the current operational value For example, there may be an active market for an identical asset for certain types of assets. Using a market approach under these conditions is likely to be a direct measurement When an asset becomes more specialized, the presence of an active market is likely to decrease. In these conditions, the cost approach is more relevant. For example, if prices are fixed only on new assets and the asset measured today has already been used, the current price of the same or similar asset should be adjusted taking into account its age and condition. However, in both cases, the main goal is always the same: to reflect the value of a given asset in its use, when providing services in current market conditions. As for the revenue approach, its measurement techniques do not correspond to current operational value, since public sector assets often generate little or no cash flows, and future revenue streams will not be discounted. In the financial situation reporting, the current operational value reflects the amount the entity would have paid at the date of the measurement for the remaining service potential of its existing asset. And, in the statement of financial results, it reflects the consumed part of the value of the asset when providing the service, as of the date of measurement Thus, an updated approach of measurement of financial elements in the public sector will help improve the information system of public sector assets and their management, as it more accurately reflects the economic reality of the financial situation of the entity. [ABSTRACT FROM AUTHOR]

Copyright of Jurnal Ilmu Hukum, Humaniora dan Politik (JIHHP) is the property of Dinasti Publisher and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The 2024 Accounting and Business Research International Accounting Policy Forum, published in Accounting & Business Research, features 4 articles reflecting on important issues in accounting literature. The first article discusses the evolution of fair value measurement and its implications for financial reporting. The second article critiques the use of institutional theory in social and environmental accounting research. The third article reflects on the academic/professional interface in accounting, highlighting a tension between academic independence and practitioner expectations. The fourth article examines the concept of 'realised' in accounting standards and suggests areas for further research. [Extracted from the article]

In the last 20 years, the road infrastructure in Romania has expanded considerably and affected a significant number of natural and legal persons, owners of real estate located on the expropriation corridor. According to the Rejust database, in the last 10 years, annually, on average, approximately 4,000 files were created before the courts with expropriation as their object. In this article, we propose to present the legislative framework and particularities of the evaluation process of real estate properties subject to expropriation for reasons of public utility. The importance and actuality of such a theme was generated by the very large number of cases pending before the courts as a result of the dissatisfaction of the owners of buildings subject to expropriation for public utility reasons regarding the amount of compensation values granted. Also, at the level of the courts, there is a non-uniform practice regarding the method of drawing up evaluation reports. The study aims to review the procedures related to public interest expropriation and to create the premises for future research in the field.

The purpose of the study is to analyse the problems arising from the use of historical cost, market value and fair value to increase the relevance of reporting data. The research is based on such scientific methods as analysis, synthesis, deduction, scientific abstraction. When writing the article, the regulatory documents governing the reporting procedure in our country, as well as the Law “On Limited Liability Companies” were analyzed. Based on the analysis of the balance sheet and the statement of financial results, using dynamic and static balance theories for their usefulness for external users, the need for a synthesis of these theories is substantiated. The subjectivity of historical cost is determined and the features of its use and application in the current accounting practice are highlighted. The relationship between historical cost and fair values is shown.The inconsistency and discrepancy between the order of formation of historical value in the domestic accounting system and the dynamic balance theory has been proven. A procedure for using fair value is proposed. The subjectivity and labor intensity of its determination of fair value are highlighted. The reasons are revealed that prevent an organization from generating information about its financial position and performance results. As a result of the work, we have identified shortcomings in reflecting the results of asset revaluation in the financial statements from the perspective of generating information in the balance sheet and the statement of financial results of the organization. A procedure has been developed for using historical and fair value to generate accounting (financial) statements in accordance with their purpose. An algorithm for generating a balance sheet corresponding to the static balance theory and a report on the financial results of the organization’s activities corresponding to the dynamic balance theory is presented. An algorithm for generating a balance sheet corresponding to the static balance theory and a report on the financial results of the organization’s activities corresponding to the dynamic balance theory is presented. The results of the study will be useful to researchers and practicing accountants.

From 2024, Federal Accounting Standard (FAS) 14/2022 will come into force and will become mandatory, significantly changing the rules for accounting for intangible assets. In this regard, the purpose of this research is to conduct a detailed analysis of the new regulations provided for in this document and determine their impact on business accounting processes. In the course of the work, Russian and international standards relating to the accounting of intangible assets, as well as domestic accounting practice, were critically assessed, the main problems associated with the application of FAS 14/2022 were identified, and proposals for their solution were presented. The results of this research may be useful to a wide range of readers interested in issues of modern accounting and reporting, as well as accounting employees of organizations (including universities) and other specialists involved in the formation and improvement of regulatory documents on accounting.

This article explores the concept of fair value of voting rights in a just liberal democratic society, with a focus on equal political liberty and unencumbered access to the ballot. The author criticizes restrictive voter ID laws and argues that societies committed to equality should make it easier, not harder, for citizens to vote. The historical context of voting rights in the United States, particularly for black citizens, is highlighted, emphasizing the need to guarantee fair value through unencumbered access. The article also discusses the varying opinions of Supreme Court Justices on voting rights and the disproportionate impact of voter ID laws on marginalized communities. The author asserts that the burden should be on states to justify making voting more difficult and emphasizes the importance of equal participation in the political process. [Extracted from the article]