Joint venture investments: An analysis of the level of compliance with the disclosure requirements of IFRS 12

This study provides empirical evidence on changes in entities’ reporting of interests in joint ventures from proportionate consolidation to the equity method following adoption of IFRS 11 and their application of the corresponding IFRS 12 disclosure requirements. The sample includes 551 firms from 26 countries affected by the adoption of IFRS 11 (1,858 financial statements). The findings indicate that many firms are not fully complying with IFRS 12 disclosure requirements and that firm‐level characteristics (e.g., size, leverage, and ownership concentration) contribute more to explaining the level of (non)compliance, when compared to country‐level variables (e.g., legal system and emerging versus developed countries). We also find that the level of materiality of joint ventures is positively associated with the level of compliance with IFRS 12 disclosure requirements. Our results contribute to the literature on the determinants of compliance with IFRS Standards disclosure requirements and bring important insights for the post‐implementation review of IFRS 11 and IFRS 12 occurring between 2020 and 2022.info:eu-repo/semantics/acceptedVersio

Energy flow lines and the spot of Poisson-Arago

We show how energy flow lines answer the question about diffraction phenomena presented in 1818 by the French Academy: "deduce by mathematical induction, the movements of the rays during their crossing near the bodies". This provides a complementary answer to Fresnel's wave theory of light. A numerical simulation of these energy flow lines proves that they can reach the bright spot of Poisson-Arago in the shadow center of a circular opaque disc. For a monochromatic wave in vacuum, these energy flow lines correspond to the diffracted rays of Newton's Opticks

Horizontal deflection of single particle in a paramagnetic fluid

This paper describes the horizontal deflection behaviour of a single particle in paramagnetic fluids under a high-gradient superconducting magnetic field. A glass box was designed to carry out experiments and test assumptions. It was found that the particles were deflected away from the magnet bore centre and particles with different density and/or susceptibility settled at a certain position on the container floor due to the combined forces of gravity and magneto-Archimedes as well as lateral buoyant (displacement) force. Matlab was chosen to simulate the movement of the particle in the magnetic fluid, the simulation results were in good accordance with experimental data. The results presented here, though, are still very much in their infancy, which could potentially form the basis of a new approach to separating materials based on a combination of density and susceptibility. Graphical abstract: [Figure not available: see fulltext.

Large-Scale Assessment of the Zebrafish Embryo as a Possible Predictive Model in Toxicity Testing

Background: In the drug discovery pipeline, safety pharmacology is a major issue. The zebrafish has been proposed as a model that can bridge the gap in this field between cell assays (which are cost-effective, but low in data content) and rodent assays (which are high in data content, but less cost-efficient). However, zebrafish assays are only likely to be useful if they can be shown to have high predictive power. We examined this issue by assaying 60 water-soluble compounds representing a range of chemical classes and toxicological mechanisms. Methodology/Principal Findings: Over 20,000 wild-type zebrafish embryos (including controls) were cultured individually in defined buffer in 96-well plates. Embryos were exposed for a 96 hour period starting at 24 hours post fertilization. A logarithmic concentration series was used for range-finding, followed by a narrower geometric series for LC 50 determination. Zebrafish embryo LC50 (log mmol/L), and published data on rodent LD50 (log mmol/kg), were found to be strongly correlated (using Kendall’s rank correlation tau and Pearson’s product-moment correlation). The slope of the regression line for the full set of compounds was 0.73403. However, we found that the slope was strongly influenced by compound class. Thus, while most compounds had a similar toxicity level in both species, some compounds were markedly more toxic in zebrafish than in rodents, or vice versa. Conclusions: For the substances examined here, in aggregate, the zebrafish embryo model has good predictivity for toxicit

Internal flows and energy circulation in light beams

We review optical phenomena associated with the internal energy redistribution which accompany propagation and transformations of monochromatic light fields in homogeneous media. The total energy flow (linear-momentum density, Poynting vector) can be divided into spin part associated with the polarization and orbital part associated with the spatial inhomogeneity. We give general description of the internal flows in the coordinate and momentum (angular spectrum) representations for both nonparaxial and paraxial fields. This enables one to determine local densities and integral values of the spin and orbital angular momenta of the field. We analyse patterns of the internal flows in standard beam models (Gaussian, Laguerre-Gaussian, flat-top beam, etc.), which provide an insightful picture of the energy transport. The emphasize is made to the singular points of the flow fields. We describe the spin-orbit and orbit-orbit interactions in the processes of beam focusing and symmetry breakdown. Finally, we consider how the energy flows manifest themselves in the mechanical action on probing particles and in the transformations of a propagating beam subjected to a transverse perturbation.Comment: 50 pages, 21 figures, 173 references. This is the final version of the manuscript (v1) modified in accord to the referee's remarks and with allowance for the recent development. The main changes are: additional discussion of the energy flows in Bessel beams (section 4.1), a lot of new references are added and the Conclusion is shortened and made more accurat

The EU-ToxRisk method documentation, data processing and chemical testing pipeline for the regulatory use of new approach methods

Hazard assessment, based on new approach methods (NAM), requires the use of batteries of assays, where individual tests may be contributed by different laboratories. A unified strategy for such collaborative testing is presented. It details all procedures required to allow test information to be usable for integrated hazard assessment, strategic project decisions and/or for regulatory purposes. The EU-ToxRisk project developed a strategy to provide regulatorily valid data, and exemplified this using a panel of > 20 assays (with > 50 individual endpoints), each exposed to 19 well-known test compounds (e.g. rotenone, colchicine, mercury, paracetamol, rifampicine, paraquat, taxol). Examples of strategy implementation are provided for all aspects required to ensure data validity: (i) documentation of test methods in a publicly accessible database; (ii) deposition of standard operating procedures (SOP) at the European Union DB-ALM repository; (iii) test readiness scoring accoding to defined criteria; (iv) disclosure of the pipeline for data processing; (v) link of uncertainty measures and metadata to the data; (vi) definition of test chemicals, their handling and their behavior in test media; (vii) specification of the test purpose and overall evaluation plans. Moreover, data generation was exemplified by providing results from 25 reporter assays. A complete evaluation of the entire test battery will be described elsewhere. A major learning from the retrospective analysis of this large testing project was the need for thorough definitions of the above strategy aspects, ideally in form of a study pre-registration, to allow adequate interpretation of the data and to ensure overall scientific/toxicological validity.Toxicolog