Naslov
Conservatism and Accounting Assymetry in Internatioal Accounting

Autori
Mrša, Josipa ; Serdarević, Nino ; Mance, Davor

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Economic Integration, Growth Prospects and Enlargement

Urednik/ci
Kandžija, Vinko ; Kumar, Andrej

Izdavač
Ekonomski fakultet Sveučilišta u Rijeci

Grad
Rijeka

Godina
2012

Raspon stranica
722-731

ISBN
978-953-7813-13-0

Ključne riječi
accounting conservatism, aggressive accounting, conservative accounting, accounting asymmetries, fair value measurement, risk assessment

Sažetak
The paper surveys relevant accounting methods dealing with information asymmetry, uncertainties, and harmonization implications on less developed capital markets. The quality of accounting information is related to more aggressive or more conservative accounting policy approaches. A strong impact is assumed to be given by following factors: low market liquidity, underestimation of bad debt, pre- mature revenue recognition, transfers of risks and ownerships ; accounting oriented on tax purposes, introduction of maximum allowable depreciation rates, unadjusted differences in employees’ benefits relevant to labor legislation ; non recognition of contingency reserves for long term litigations. We draw special attention to recent International Financial Reporting Standards (IFRS) convergence to United States Generally Accepted Accounting Principles (US GAAPs), especially in harmonizing with the Financial Accounting Standards Boards statement (FAS) 130: Reporting comprehensive income (in revised IAS 1) and FAS 157 Fair value measurement. A Critical Accounting Policy Choices Index for Bosnia and Herzegowina (CAPCBIH) resulted in a very poor performance presenting significant gap in recognizing environment specifics. Furthermore, the importance of revised International Standards on Assurance Engagements (ISAE) and re-enforced role of auditors in assessing relevance of management estimates is stressed.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA