Solutii pentru masurarea calitatii informatiei contabile

There are many studies confirming the theory according to which the decisions of the users of the accounting information depend on the quality of this very information, namely its intrinsic quality, as well as its impact through publication. We undertake to test the extent to which the intrinsic quality of the accounting information is assured by the internal means of obtaining the information. The analysis is performed on the Romanian market and takes into account the qualitative characteristics of the accounting information contained within the IASB conceptual framework. We have opted for the data analysis using the technique of the study case and for methods of economic analysis applicable in accounting. After having checked the relevance of the conceptual framework, we have identified the prerequisites, the criteria and, respectively, the measurable quality parameters. We have monitored the influence of these explanatory variables in respect of the topic analysed through the study case, and we have considered the level of quality assurance. The contribution of the study consists of new explicit sub-criteria for the assurance and control of the accounting information, which enrich the accounting theory, and, of an instrument for assessing the quality of the information to be offered to the users, namely managers, but also consultants, who can use it in practice and base their analyses and decisions on it.Accounting information, quality, quantification, managers, consultants

Aspecte conceptuale si tehnice privind viitoare reglementari contabile pentru IMM-uri in Europa

The economic theories and the accounting regulations deriving from them should be reconsidered for SMEs. At global level, there are accomplishments in this respect – IASB IFRS for SMEs – or intentions – European Commission proposals for certain simplifications of the European directives. However, for these actions to be successful, further investigations concerning the theoretical and technical implications are necessary. In this study, we present our opinion concerning the theoretic influences (reconsideration of the conceptual framework) and the technical influences (change in the disclosure requirements and change in the content of the standards, namely recognition and valuation) implied by a standard for SMEs.SMEs accounting standard, agency theory, shareholder-manager, stakeholders, IFRS for SMEs

Solutii pentru masurarea calitatii informatiei contabile

There are many studies confirming the theory according to which the decisions of the users of the accounting information depend on the quality of this very information, namely its intrinsic quality, as well as its impact through publication. We undertake to test the extent to which the intrinsic quality of the accounting information is assured by the internal means of obtaining the information. The analysis is performed on the Romanian market and takes into account the qualitative characteristics of the accounting information contained within the IASB conceptual framework. We have opted for the data analysis using the technique of the study case and for methods of economic analysis applicable in accounting. After having checked the relevance of the conceptual framework, we have identified the prerequisites, the criteria and, respectively, the measurable quality parameters. We have monitored the influence of these explanatory variables in respect of the topic analysed through the study case, and we have considered the level of quality assurance. The contribution of the study consists of new explicit sub-criteria for the assurance and control of the accounting information, which enrich the accounting theory, and, of an instrument for assessing the quality of the information to be offered to the users, namely managers, but also consultants, who can use it in practice and base their analyses and decisions on it

Solutii pentru masurarea calitatii informatiei contabile

There are many studies confirming the theory according to which the decisions of the users of the accounting information depend on the quality of this very information, namely its intrinsic quality, as well as its impact through publication. We undertake to test the extent to which the intrinsic quality of the accounting information is assured by the internal means of obtaining the information. The analysis is performed on the Romanian market and takes into account the qualitative characteristics of the accounting information contained within the IASB conceptual framework. We have opted for the data analysis using the technique of the study case and for methods of economic analysis applicable in accounting. After having checked the relevance of the conceptual framework, we have identified the prerequisites, the criteria and, respectively, the measurable quality parameters. We have monitored the influence of these explanatory variables in respect of the topic analysed through the study case, and we have considered the level of quality assurance. The contribution of the study consists of new explicit sub-criteria for the assurance and control of the accounting information, which enrich the accounting theory, and, of an instrument for assessing the quality of the information to be offered to the users, namely managers, but also consultants, who can use it in practice and base their analyses and decisions on it

VALUE ALLOCATION – CONTRIBUTION AND RISK TO THE RELIABILITY OF FINANCIAL REPORTING

Our study argues in favor of the reliability of fair value estimates for correct decision making by the stakeholders of the fi nancial reporting market. The analysis is singularized to emergent contexts, as the Romanian market is the case study, and it is focused on the process of value allocation between the components of a group of assets. Having an application on fi xed assets, the paper shows how fair value estimation is critical and implies risks on such an atypical market. The process of value allocation may bring a high level of arbitrariness to fair value accounting, this being crucial to apply correctly the valuation methodology in relation to the nature of the asset and market information available, and the selection of the allocation keys. The empirics of our study show a consistent expertise of Romanian valuators, as the most frequently used method for value allocation is the deduction of the value of those assets that was estimated based on the market approach, and not the values that were estimated based on the cost or income approach. Other fi ndings show the frequent use of replacement cost, gross or net, to the detriment of book value, a very important aspect for an emergent market, even more so as revaluation in Romania does not guarantee that dedicated valuation methodology was used. These results are all the more important as land and buildings were the majority of fi xed assets valuated, with the highest values as a result of the real estate bubble prior to the fi nancial crisis, and with an essential role in the activity of the companies

Aspecte conceptuale si tehnice privind viitoare reglementari contabile pentru IMM-uri in Europa

The economic theories and the accounting regulations deriving from them should be reconsidered for SMEs. At global level, there are accomplishments in this respect – IASB IFRS for SMEs – or intentions – European Commission proposals for certain simplifications of the European directives. However, for these actions to be successful, further investigations concerning the theoretical and technical implications are necessary. In this study, we present our opinion concerning the theoretic influences (reconsideration of the conceptual framework) and the technical influences (change in the disclosure requirements and change in the content of the standards, namely recognition and valuation) implied by a standard for SMEs

Aspecte conceptuale si tehnice privind viitoare reglementari contabile pentru IMM-uri in Europa

The economic theories and the accounting regulations deriving from them should be reconsidered for SMEs. At global level, there are accomplishments in this respect – IASB IFRS for SMEs – or intentions – European Commission proposals for certain simplifications of the European directives. However, for these actions to be successful, further investigations concerning the theoretical and technical implications are necessary. In this study, we present our opinion concerning the theoretic influences (reconsideration of the conceptual framework) and the technical influences (change in the disclosure requirements and change in the content of the standards, namely recognition and valuation) implied by a standard for SMEs

Marginal prices of improvements made to blocks of flats: empirical evidence from Romania

This paper examines a specific segment of the housing markets from Central and Eastern European countries, namely the stock of flats in the urban area. With focus on Romania, we emphasize the improvements made by owners and authorities, aimed to enhance the quality of life and the maintenance of old blocks of flats; are highlighted some aspects regarding the cost of these improvements. In addition, the empirical section investigates whether and to what extent the improvements made to the flats and buildings have a significant effect on sale prices and rental prices. The marginal prices of these attributes are provided by hedonic pricing models, estimated in a generalized linear model framework; gamma and log-linear regression models perform in a similar way in terms of fit and prediction accuracy. The physical condition of the building and finishing works inside the flats, as variables of interest in our models, have a significant effect on sale and rental prices, but with different intensity. A common set of significant attributes, in the hedonic models for both sale and rental price, is suggested

Value allocation: contribution and risk to the reliability of financial reporting

Our study argues in favor of the reliability of fair value estimates for correct decision making by the stakeholders of the financial reporting market. The analysis is singularized to emergent contexts, as the Romanian market is the case study, and it is focused on the process of value allocation between the components of a group of assets. Having an application on fixed assets, the paper shows how fair value estimation is critical and implies risks on such an atypical market. The process of value allocation may bring a high level of arbitrariness to fair value accounting, this being crucial to apply correctly the valuation methodology in relation to the nature of the asset and market information available, and the selection of the allocation keys. The empirics of our study show a consistent expertise of Romanian valuators, as the most frequently used method for value allocation is the deduction of the value of those assets that was estimated based on the market approach, and not the values that were estimated based on the cost or income approach. Other findings show the frequent use of replacement cost, gross or net, to the detriment of book value, a very important aspect for an emergent market, even more so as revaluation in Romania does not guarantee that dedicated valuation methodology was used. These results are all the more important as land and buildings were the majority of fixed assets valuated, with the highest values as a result of the real estate bubble prior to the financial crisis, and with an essential role in the activity of the companies

Conceptual and Technical Study Regarding Future Accounting Regulation for SMEs in Europe

The economic theories and the accounting regulations deriving from them should be reconsidered for SMEs. At global level, there are accomplishments in this respect – IASB IFRS for SMEs – or intentions – European Commission proposals for certain simplifications of the European directives. However, for these actions to be successful, further investigations concerning the theoretical and technical implications are necessary. In this study, we present our opinion concerning the theoretic influences (reconsideration of the conceptual framework) and the technical influences (change in the disclosure requirements and change in the content of the standards, namely recognition and valuation) implied by a standard for SMEs