For the financial years from 2018,the new standard for accounting of financial instruments,IFRS 9,was applicable for the first time.Various questions arose in connection with the transition.For example,how high would ...For the financial years from 2018,the new standard for accounting of financial instruments,IFRS 9,was applicable for the first time.Various questions arose in connection with the transition.For example,how high would the resulting transition effect be on equity?Another aspect related to the question of the extent to which the fair value measurement(through profit or loss)would increase.It is also of interest whether the previously presented IFRS 9 changes are classifiable as being material.Through the analysis of the financial statements of FTSE MIB and DAX 30 companies that were prepared for the first time in accordance with IFRS 9 in the year 2018,answers are given in this article to the aforementioned questions and a comparison is made regarding the extent to which national differences or commonalities existed.In the overall view of the absolute change in equity,for the FTSE MIB companies,a mean value of€-3.03 million was calculated and for the DAX 30 companies,€-34.29 million.The equity ratio(median),however,only declined marginally in percentage points with the FTSE MIB companies(-0.07),as well as with the DAX 30 companies(-0.02).With regard to the migration of financial assets,it has been shown that the accounting and measurement of more than 90%of financial assets of the FTSE MIB and DAX 30 companies have not changed.With the rest,the measurement net at fair value(through profit or loss)increased in both stock exchange segments.Nearly all changes to equity,the FTSE MIB,as well as DAX 30 companies,can be classified as immaterial.The extent to which the expansion of the measurement of financial instruments,which are measured at the fair value(through profit or loss)can be material,will ultimately depend on the individual case,in view of the future IFRS financial statements.This then depends on how high the actual change in fair value(through profit or loss)of these holdings is in a period in an individual case,in absolute and relative terms—for example,in proportion to the equity and the P&L.The latter展开更多
The move towards international harmonization of accounting standards has dominated the work program of International Accounting Standards Board （IASB） in the past years. This paper aims to verify the compliance of t...The move towards international harmonization of accounting standards has dominated the work program of International Accounting Standards Board （IASB） in the past years. This paper aims to verify the compliance of the comprehensive income （CI） statement format with International Accounting Standard （IAS） 1-presentation of financial statements, which was revised in 2007. The changes introduced by the 2011 revision are also taken into account. For this purpose, this study analyzes the final annual financial statements approved in 2011 by the Italian companies whose shares belonged to the Italia Star segment of Financial Times and Stock Exchange （FTSE）. Given that IAS 1 provides little specific guidance about the presentation of line items and permits many alternative types of format, this paper focuses on information organization in the statement of CI in order to analyze the degree of heterogeneity of financial information. For achieving this goal, this study considers the following issues： （1） presentation of all items of income and expense in an overall statement or in two separate statements; （2） a detailed level of the content in terms of number of items between revenue and net income （NI）; （3） classification of expenses either by nature or by function; （4） number and type of intermediate margins; and （5） presentation of items of other comprehensive income （OCI） either before tax or net of tax. The results show some clear evidences. On the one hand, there is a high diversity in accounting practices, which makes it difficult for users to compare financial information across entities, highlighting the need to complete the joint project of the standards setters （IASB and Financial Accounting Standards Board （FASB）） on financial statement presentation. On the other hand, some alternative types of presentation （e.g., the tendency to split the CI statement into two statements rather than using an integrated solution, the prevalence to disaggregate the expenses 展开更多
文摘For the financial years from 2018,the new standard for accounting of financial instruments,IFRS 9,was applicable for the first time.Various questions arose in connection with the transition.For example,how high would the resulting transition effect be on equity?Another aspect related to the question of the extent to which the fair value measurement(through profit or loss)would increase.It is also of interest whether the previously presented IFRS 9 changes are classifiable as being material.Through the analysis of the financial statements of FTSE MIB and DAX 30 companies that were prepared for the first time in accordance with IFRS 9 in the year 2018,answers are given in this article to the aforementioned questions and a comparison is made regarding the extent to which national differences or commonalities existed.In the overall view of the absolute change in equity,for the FTSE MIB companies,a mean value of€-3.03 million was calculated and for the DAX 30 companies,€-34.29 million.The equity ratio(median),however,only declined marginally in percentage points with the FTSE MIB companies(-0.07),as well as with the DAX 30 companies(-0.02).With regard to the migration of financial assets,it has been shown that the accounting and measurement of more than 90%of financial assets of the FTSE MIB and DAX 30 companies have not changed.With the rest,the measurement net at fair value(through profit or loss)increased in both stock exchange segments.Nearly all changes to equity,the FTSE MIB,as well as DAX 30 companies,can be classified as immaterial.The extent to which the expansion of the measurement of financial instruments,which are measured at the fair value(through profit or loss)can be material,will ultimately depend on the individual case,in view of the future IFRS financial statements.This then depends on how high the actual change in fair value(through profit or loss)of these holdings is in a period in an individual case,in absolute and relative terms—for example,in proportion to the equity and the P&L.The latter
文摘The move towards international harmonization of accounting standards has dominated the work program of International Accounting Standards Board （IASB） in the past years. This paper aims to verify the compliance of the comprehensive income （CI） statement format with International Accounting Standard （IAS） 1-presentation of financial statements, which was revised in 2007. The changes introduced by the 2011 revision are also taken into account. For this purpose, this study analyzes the final annual financial statements approved in 2011 by the Italian companies whose shares belonged to the Italia Star segment of Financial Times and Stock Exchange （FTSE）. Given that IAS 1 provides little specific guidance about the presentation of line items and permits many alternative types of format, this paper focuses on information organization in the statement of CI in order to analyze the degree of heterogeneity of financial information. For achieving this goal, this study considers the following issues： （1） presentation of all items of income and expense in an overall statement or in two separate statements; （2） a detailed level of the content in terms of number of items between revenue and net income （NI）; （3） classification of expenses either by nature or by function; （4） number and type of intermediate margins; and （5） presentation of items of other comprehensive income （OCI） either before tax or net of tax. The results show some clear evidences. On the one hand, there is a high diversity in accounting practices, which makes it difficult for users to compare financial information across entities, highlighting the need to complete the joint project of the standards setters （IASB and Financial Accounting Standards Board （FASB）） on financial statement presentation. On the other hand, some alternative types of presentation （e.g., the tendency to split the CI statement into two statements rather than using an integrated solution, the prevalence to disaggregate the expenses
