IFRS compass : IT systems implication

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Effective Internal Controls for Recognizing Contracting Revenues

Business leaders of contracting companies in Qatar struggle to develop appropriate internal controls over revenue estimates to mitigate the risk of financial statement manipulation. Grounded in the internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission, the purpose of this multiple case study was to explore strategies that business leaders responsible for financial reporting use to develop and implement effective internal controls for recognizing contracting revenues. Nine participants from 3 private contracting companies in Qatar who had implemented strategies to develop and implement effective internal controls for recognizing contracting revenues participated in face-to-face semistructured interviews. Through a process of methodological triangulation as described by Yin, observations and documentary evidence supplemented data collected through semistructured interviews. Different themes emerged through the analysis of data that involved coding narrative segments. The research findings included themes of control environment, control activities, systemized project budget, accounting standards compliance, and risk assessment and monitoring. Business leaders of contracting companies may benefit from the findings of this study by gaining awareness of the need to develop and implement effective internal controls for recognizing contracting revenues. Implications for positive social change could come from identifying internal controls that increase financial statement reliability, which could lead to increased access to capital and debt financing and improved employment opportunities in Qatar

IFRS digest : what U.S. practitioners and entities need to know now

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Understanding the Evolution of Accounting for Software: Implications for an IFRS World

Software is a relatively new, fast-growing, and ever more integrated part of the US and global economy. Where 20 years ago, software was often a standalone product (e.g. Microsoft Windows), in today\u27s world software is a key and indivisible part of thousands of products that are sold every day, like Apple\u27s iPhone and iPad. The accounting guidance for software revenue recognition in the United States is a relatively new and fast-growing body of literature. Each iteration of software rulemaking has become more precise, diminishing the ability of corporate managements to interpret the literature in diverse ways. For this reason, software exemplifies the rules-based model said to be used in the US, attempting to achieve meaningful financial reporting through detailed pronouncements that explicitly address how to interpret accounting principles in specific situations

ERP systems facilitating XBRL reporting and regulatory compliance

Today, the global economic environment requires that information is readily available across the supply chain (SC) and value chain and that the information is available in a costeffective manner. The information must be accurate, credible, timely, cost-efficient, reliable, traceable, pertinent, and possess data transparency. The information must be available to members within a particular organization, its vendors and customers, and outside governmental and regulatory agencies. All associated stakeholders and stockholders are entitled to the availability of trustworthy financial information to aid them in decision making, therefore, the controls regarding the data are critical for the compilation of the data. The Securities and Exchange Commission (SEC) reviews the financial report data a company submits on a yearly basis and this aids in the validity and credibility of the data, so that the ultimate end-user, who is the stockholder has the afforded protection from deception which is mandated and provided by the government

ICT and InnovationA Step Forward to a Global Society

ItAIS (www.itais.org) was established in 2003 as the Italian Chapter of the Association for Information Systems (AIS - www.aisnet.org) and has since then been promoting the exchange of ideas, experience, and knowledge among both academics and professionals committed to the development, management, organization and use of information systems. The itAIS conference is the major annual event of the Italian Information System community and it is thought as a forum to promote discussions and experiences exchanges among researchers in the field, both from the academy and the industry. Being the current the eleventh edition, in 2016 itAIS was held in Verona. The previous editions took place in Rome on 2015, Genova on 2014, Milan on 2013, Rome on 2012 and 2011, Naples on 2010, Costa Smeralda on 2009, Paris on 2008, Venice on 2007, Milan on 2006, Verona on 2005, and again Naples on 2004. itAIS 2016 aims to bring together researchers, scientists, engineers, and doctoral students to exchange and share their experiences, ideas, challenges, solutions, and research results about all aspects related to the impact of Information Technology and Innovation Trends in Organizations. The conference includes 16 tracks: (1) Organizational change and Impact of ICT; (2) Accounting Information Systems; (3) Advanced ICT support for innovation strategies, management, and implementations; (4) Human-computer interaction; (5) Continuous Redesign of Socio-Technical Systems; (6) Digitalization trends in Human Resources Management; (7) e-Services, Social Networks, and Smartcities; (8) ICT-enabled innovation in public services: co-production and collaborative networking; (9) The new era of digitalization in Healthcare and Public sector; (10) IS (lost) in the Cloud; (11) Internet of Things: exploring tensions in global information infrastructures; (12) Technology- enhanced learning: transforming learning processes in organizations; (13) Supply Chain Resilience and Security; (14) Digital Marketing and Analytics. The participation success that has been registered in the previous editions is confirmed this year. The conference attracted more than 80 submissions from Italian and foreigner researchers. Among them, more 6 than 68 contributions have been accepted for presentation at the conference following a double-blind review process. Among them, 19 are published in this book, the other will appear in a volume of the Springer Series Lecture Notes in Information Systems and Organisations1. The conference took place at Economics Department, University of Verona (Santa Marta campus) on October 7th \u2013 8th, 2016 and is organized in 5 parallel sessions. We would like to thank all the authors who submitted papers and all conference participants. We are also grateful to the chairs of the fourteen tracks and the external referees, for their thorough work in reviewing submissions with expertise and patience, and to the President and members of the itAIS steering committee for their strong support and encouragement in the organization of itAIS 2016. A special thanks to all members of the Organizing Committee for their precious support to the organization and management of the event and in the publication of the enclosed proceedings

Financial Statement Disclosure of Carbon Footprint Costs in the Airline Industry

Unaccountable corporate polluters profit short term at the expense of global economic sustainability. The purpose of the study was to determine if carbon dioxide (CO2) penalties on the airline emissions would result in financial statement disclosure and emission mitigation. Contributing to environmental accounting, the study was based in corporate social responsibility with a conceptual framework based on economically-centered CO2 studies. A random sample of 69 global airlines, taken from the International Air Transport Association (IATA) and the International Civil Aviation Organization (ICAO) memberships, was stratified between EU bound and non-EU bound airlines. The research questions explored (a) the frequency mean differences in disclosed CO2 costs between the strata based upon the European Union\u27s environmental trading scheme (EU-ETS) and (b) whether international financial reporting standards (IFRS) influenced the financial statement reporting of CO2 emissions costs. Financial statement data were analyzed in a 3-year longitudinal, ex-post, quasi-experimental, repeated measures factorial ANOVA and ANCOVA, pretest-posttest control group design. The results showed significant CO2 disclosure differences between the experimental (EU bound) airlines and control group (non-EU) airlines and for those airlines with IFRS prepared statements. These results should convince accounting practitioners that the quantification and reporting of greenhouse gas pollution can become the catalyst for improved operations and commercial sustainability. Positive social change to mitigate anthropogenic pollution should result and should promote normative accounting practice to hold those responsible to a higher global accountability

AICPA audit committee toolkit : private companies

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