1,663 research outputs found


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    Although, in the fight with inflation, Romania has lately obtained indubitable success, the inflation rate in our country continues to be high. Although in the Romania of the year 2007 we speak of a one-digit inflation rate, still, it continues to represent a danger, both at the micro economical level and at the macro economical one. In this context we feel it is still useful to approach the problems regarding the amortization of the immobilized actives, both in relationship with inflation as well as in relation with the fiscal implications that derive of it.accounting, amortization, fiscality, IFRS

    The impact of long-lived non-financial assets depreciation/amortization method on financial statements

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    Non-financial long-lived assets are ones ensuring company‚Äôs basic business operations, with expected useful time more than one accounting period, and generating profit. Assets often requiring significant investments constitute also considerable part of companies‚Äô total assets in its statements of financial position. In average this proportion in balance sheets of Latvian companies listed in Baltic stock exchange is 48%. In most of these companies this percentage is higher and even up to 97%. Due to nowadays global economic situation the management of non-financial long- -lived assets also plays significant role in both ‚Äď shareholders‚Äô (actual/ potential) and management‚Äôs ‚Äď decision-making processes concerning investing, financing, controlling, other activities. In order to ensure financial statements reflects real situation of the particular company, company‚Äôs management is responsible to ensure that accounting process of depreciation/ amortization these assets is: ‚Äď Correct, transparent and in line with specifics of company‚Äôs business; ‚Äď In accordance with respective accounting and reporting regulations. This article reveals theoretical and practical view exploring how information relating depreciation/ amortization of long-lived non-financial assets influences results in financial statements of Latvian companies listed in Baltic stock exchange


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    In Romania, starting from the Regulationas requests (CE) no. 1606/2002 and the national regulations are obliged to apply the IFRS starting with 1st of January 2007 the entities whose immovable values, at the balance date, are admitted to the transactionamortization, non current assets, accounting information, IAS-IFRS.


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    Placed in the international trend, Romanian accounting had experienced various changes, especially as regards of progress on disconnection between accounting and fiscality. In the present, fiscal rules should not have any role in accounting decisions, because accounting rules are applied to produce accounting information that is useful in making decisions and to provide a "true and fair view" upon financial reality of the entity. However, the barrier in the habit of accounting to thinking for fiscal point of view all economic transactions remains insurmountable, yet. Starting from this perspective on disconnection between accounting and fiscality would mean that amortization recorded in the accounting, as a result of management policy, to be different from fiscality amortization, to calculate income tax. Although formally accepted, disconnect between accounting and fiscality continues to meet many difficulties. In this sense, it is usual in practice to use the same method of amortization for accounting purposes and for fiscal purposes to prevent complications of double track amortization and prevent wandering in the rules in this field. Accounting rule is deliberately eluded in favor of the fiscal rules. This is the reason we proposed to make in this paper a comparative study between norms and rules on accounting and fiscal amortization, paper in which we intend to show the benefits of applying accounting and fiscal rules separately

    Financial Reporting ‚Äď from Responsibilities to the Quality Assurance Systems

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    Particularities of the financial reporting exigencies suppose realistic approaches which are under the sign of at least two targets: on the one hand the correct understanding of the role of a relevant and reliable financial reporting and of the accountability for financial statements preparing and presenting, and on the other hand the increase in the users interest in the quality of the financial information provided by the financial reporting. There is a specific inter-relationship between the two categories of factors which should impose for the possible lacks in the process of preparing the financial statements to be identified during the qualified reviews and of other forms of quality assurance of the accounting information quality so that when this becomes public, when reaching the users, to answer to their demands. Being aware of the existence of a national creativity area in the process of assimilating the European norms and the international standards in the area, the current study intends to point out the main benchmarks for the financial reporting exigencies.financial reporting, conformity, financial statements, quality assurance systems, financial reporting users.

    Relevance of financial information in quick loans negotiation

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    Nowadays, most loan transactions are contracted by using the exponential discounting as the underlying standard economic model to value this type of financial operations. In a framework of absence of fees to be paid by the borrower, the interest rate of the exponential discount function is, moreover, the true interest rate of the operation. Nevertheless, there exist a set of circumstances which make this identity false. Among others, these characteristics are: the use of linear discount as the underlying discount function, splitting time when using a nominal interest rate, and the existence of fees in a loan at 0% interest rate. All these cases will be analyzed in this paper in the context of the so-called quick loans

    Rent Collection, Rent Distribution, and Cost Recovery: An Analysis of Iceland√Ę‚ā¨‚ĄĘs ITQ Catch Fee Experiment

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    Resource rentals can be defined as payments made by the user of a resource to the stakeholders to whom the payment accrues. Typically, resource rentals take the form of a payment by a commercial enterprise to the state. Resource rentals can be viewed as a tax on resource rents (i.e., on net income derived from the use of a resource) or as royalties or access fees to a resource. The Icelandic Fishery Management Act requires that vessel owners pay a resource rental in the form of the √Ę‚ā¨Ňďcatch fee√Ę‚ā¨ (veidigjald), which is one of the first attempts to explicitly use resource rent generated in fisheries as a base for government revenue. This paper first discusses the legislative activity leading up to the introduction of the catch fee, followed by a discussion of how the Fishery Management Act defines the fee. Then, the effect of using a quota-lease-charge rule is discussed and finally there is an evaluation of whether the catch fee is high enough.Resource rentals, catch fee, ITQs, Icelandic fishery management, Environmental Economics and Policy, Institutional and Behavioral Economics, International Relations/Trade, D33, D63, H21, Q22, Q28,

    Sustainability Of Substantially Equal Periodic Payments In Early Retirement Under Section 72(t)

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    Early distributions from tax-deferred retirement plans are allowed without penalty but must continue under for the longer of five years or until the retiree’s age 59½.  Early distributions under IRS Section 72(t) potentially have life altering consequences and thus require analysis of sustainability distributions through the 72(t) period
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