Rilevanza ed affidabilità del valore contabile dell’avviamento e dei beni immateriali sul mercato italiano

By | 2017-12-29T17:39:11+00:00 December 27th, 2017|

Liberatore Giovanni, Ridi Tommaso, Di Pietro Filippo/Financial ReportingRiviste / Fascicolo: 3-2012


Il presente lavoro si propone di indagare quale sia la rilevanza e l’affidabilità percepita dal mercato finanziario sul valore espresso nel bilancio d’esercizio sui beni immateriali e l’avviamento delle società quotate. Lo studio ha analizzato le aziende quotate al FTSE Italia All-share, nel periodo fra il 2002 ed il 2008. Attraverso un modello di regressione a più variabili si è verificato che: a) il valore contabile dei beni immateriali e dell’avviamento sono correlati positivamente al valore di mercato del capitale, b) la transizione agli IAS/IFRS non ha comportato un incremento della rilevanza ed affidabilità percepita dal mercato dei beni immateriali e avviamento.

We examine the value relevance and reliability perceived by the market for goodwill and identifiable intangible assets as reported in the financial statements of a sample of Italian listed companies. The dataset is composed of companies listed on FTSE Italia All-share during the period 2002-2008. Using a multiple regression model, our findings suggest that for the Italian companies the information relating to goodwill and identifiable intangible assets is value relevant in terms of market value. Moreover, we did not find any significant change in the reliability of these items after the introduction of IAS/IFRS.

Keywords: intangible assets, goodwill, value relevance, reliability, market value, IAS/IFRS


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Impairment estimates for available-for-sale equity instruments under IFRS: evidence from italian Banks

By | 2017-12-27T14:07:55+00:00 December 27th, 2017|

Sannino Giuseppe, Ginesti Gianluca, Drago Carlo/Financial ReportingRiviste / Fascicolo: 2-2014


Literature indicates that accounting choices under a given set of standards is an important topic due to the different economic implications. Daske et al. (2013) suggest that firms have substantial discretion in applying IFRS. Despite the implications on how the firms apply IFRS have motivated many studies, to our knowledge, little is known about the impairment estimates for the Available-for- Sale (AfS) equity instruments. Using a sample of Italian banks over the period 2010-2011, we investigate the determinants of the accounting decisions for impairment estimates. We find that the reporting quality and profitability are explanatory factors of the banks’ decisions to modify the thresholds of the impairment indicators used to assess AfS equity instruments. Our study also suggests that banks use a substantial discretion in implementing the IAS 39 for the AfS equity instruments.

Keywords: Financial instruments, IAS/IFRS, accounting choices, impairment, financial reporting.


 

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Dialogue with standard setters. Business Combinations under Common Control: Concerns, Criticisms and Strides

By | 2017-12-22T14:57:27+00:00 December 22nd, 2017|

Onesti Tiziano, Romano Mauro, Taliento Marco/ Financial ReportingRiviste / Fascicolo: 1-2015


Although excluded from the scope of IFRS 3, business combinations under common control (BCUCCs) are widespread transactions that take place all over the world in different forms, often as a reorganization or restructuring among related parties. These transactions occur when entities are ultimately – not transiently – controlled by the same party/ies before and after the combination (which is neither a capital market nor an arm’s length transaction and devoid of economic substance: indeed, no change of control is entailed). The scarce and fragmentary literature, not to mention the lack of clear consensus on the topic, contributes to the prevailing concerns on how to account for BCUCCs. In this complex context, the purpose of this work is to assess the possible and various accounting methods and identify the most suitable, accredited and consistent techniques. […]

Keywords: Common control, consolidation, financial reporting, acquisition accounting, fresh start, predecessor basis, pooling of interests, IAS/IFRS


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Acquisition-type or merger-type accounting? Further insights on transactions involving businesses governed by the same party(-ies)

By | 2017-12-22T14:47:04+00:00 December 22nd, 2017|

Onesti Tiziano, Romano Mauro, Taliento Marco/ Financial ReportingRiviste / Fascicolo: 2-2015


This paper – aiming at encouraging a fruitful debate – intends to highlight the discontinuous evolution of the accounting solutions explored by notable bodies (Efrag-Oic, Iasb, Fasb, Kasb, etc.) with reference to transactions involving businesses under common control. The work finally recompose them in two basic categories (discussing their pros/cons as well), here analyzed: acquisition-type accounting, which emphasizes fair value (emergence of exchange or current amounts) vs. merger-type accounting, linked to historical costs (continuity values approach). The first cluster includes the pure-acquisition and the fresh-start method, whereas the second the predecessor basis and the pooling of interests techniques. The concrete identification of the proper methodology, in this regard, essentially requires the profound understanding of the underlying economics, architecture and key elements of a specific transaction shedding light on the most relevant and reliable information useful to stakeholders.

Keywords: Common control, consolidation, financial reporting, acquisition accounting, fresh start, predecessor basis, pooling of interests, IAS/IFRS


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