The IAS 8 analysis and critical thesis of the IAS 8

In this paper the concept and the solutions suggested by IAS 8 are analysed extensively by using accounting examples. These solutions are indicated in order to achieve a equable treatment of the issues that this standard introduces in accounting. In the first part the definitions of the Standard are presented and the meanings of net profit or loss are clarified. Net profit or loss comes either from enterprise’s ordinary activities or from activities of extraordinary nature the result of whom forms extraordinary results. Afterwards, the accounting errors are mentioned and the way to correct them is indicated using recent accounting examples. Moreover, in this paper are mentioned the notifications that must be made in order to ensure the reliability of the economic conditions. Finally, the accounting treatment of the changes in accounting policies is made clear. These changes are described explicitly by using examples of economic conditions.peer-reviewe

Cost-based Management and Decision Making in Greek Luxury Hotels

The use of cost accounting systems by hotel businesses is improving the quality of decision making. The development of theories on costing, combined with advances in information technology, has improved the theoretical capabilities of such systems. However, two questions remain largely unanswered: a) whether these theories lead to tangible improvements; and b) what are the variables that drive the success of cost accounting systems. Our research shows that hotel managers need to be convinced about the use and performance benefits of such systems in the decision making process.Cost Accounting, Decision Making, Luxury Hotels, Greece

Internet financial reporting quality and corporate characteristics : the case of construction companies listed in Greek and Cypriot stock exchange

This study examines the role of the Internet in the financial reporting practices of publicly traded Greek and Cypriot construction companies. Its key contribution is the development of a relevant index that is assessed against key business characteristics: profitability, leverage, audit firm size, firm size, ownership dispersion, time length of operations, and market to book value. The association between the proposed index and firm characteristics was examined with the use of multiple regression analysis. Our findings indicate, among others, that Internet-related financial disclosure is significantly associated with profitability, leverage, firm age and ownership dispersion.peer-reviewe

Cost-based Management and Decision Making in Greek Luxury Hotels

The use of cost accounting systems by hotel businesses is improving the quality of decision making. The development of theories on costing, combined with advances in information technology, has improved the theoretical capabilities of such systems. However, two questions remain largely unanswered: a) whether these theories lead to tangible improvements; and b) what are the variables that drive the success of cost accounting systems. Our research shows that hotel managers need to be convinced about the use and performance benefits of such systems in the decision making process

The IAS 8 Analysis and Critical Thesis of the IAS 8

In this paper the concept and the solutions suggested by IAS 8 are analysed extensively by using accounting examples. These solutions are indicated in order to achieve a equable treatment of the issues that this standard introduces in accounting. In the first part the definitions of the Standard are presented and the meanings of net profit or loss are clarified. Net profit or loss comes either from enterprise’s ordinary activities or from activities of extraordinary nature the result of whom forms extraordinary results. Afterwards, the accounting errors are mentioned and the way to correct them is indicated using recent accounting examples. Moreover, in this paper are mentioned the notifications that must be made in order to ensure the reliability of the economic conditions. Finally, the accounting treatment of the changes in accounting policies is made clear. These changes are described explicitly by using examples of economic conditions.