Non-Fungible Token valuation: State of the art and future insight

By | 2024-02-09T01:42:07+01:00 February 9th, 2024|

Paola Paoloni, Giuseppe Modaffari, Martina Manzo / Financial Reporting / 2-2023

Purpose: This paper aims to provide an exploratory analysis of Non-Fungible Tokens (NFTs) valuation. NFTs are a new kind of digital asset born out of the dis-ruptive technologies’ introduction (i.e., blockchain). A lot of small and medium en-terprises (SMEs), as innovative start-ups, are involved in this domain. Nowadays, several issues in the evaluation field remain unclear. To fill this gap, this research adopts a holistic approach is crucial to draw a clear picture of the first-time ac-counting treatment of these new digital assets. Design/methodology/approach: Using a structured approach, this research considers some of the state-of-the-art international practices and reviews some major scholars’ opinions on the matter. Particularly, the study analyses the main contributions provided by international entities (e.g., European Financial Reporting Advisory Group – EFRAG, Chartered Business Valuators institute – CBV, PriceWa-terhouseCoopers – PWC), digital operators, and academia. Findings: Based on the two main strands defined for the NFT’s nature, NFTs valuation issues can be resumed in twofold. The first one that considers NFTs as intangible assets suggests following the traditional valuation approaches (cost, in-come, or market) that is already a part of international accounting standards. The second strand that considers NFTs as financial assets proposes a different valuation approach based on quantitative methods coming mainly from finance fundamentals. Originality/value: The originality of this study includes the different NFT valuation approaches, which enrich the literature and can help SMEs in managing and accounting for this new kind of digital asset.


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Accounting and Big Data: Trends, opportunities and direction for practitioners and researchers

By | 2023-02-09T22:24:24+01:00 February 9th, 2023|

Gianluca Gabrielli, Alice Medioli, Paolo Andrei / Financial Reporting / 2-2022

Big Data, the Internet of Things and Machine Learning are only today starting to be widely used but are already attracting interest. They can generate a significant impact on business management. This article analyses use and exploitation of Big Data by business management, focusing on its role in reshaping accounting information systems. The Internet of Things and Machine Learning play a key role in obtaining insights and value in this complex world. Like other areas of business, the accounting function is showing growing interest in their possible applications. We analyze, from three perspectives, how big data impacts on the accounting role in supporting managers and decision-making process, also with the aim to define future research lines that scholars could explore. An internal perspective focuses on how big data can impact management accounting; an external perspective focuses on a new dimension of financial accounting and disclosure of information; and a third perspective, the control one, focuses on the impact of big data on internal and external audit procedures.


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Accounting e reporting dei diritti di emissione. Modelli di rilevazione proposti e pratiche emergenti

By | 2017-12-29T17:37:57+01:00 December 27th, 2017|

Tarquinio Lara/ Financial ReportingRiviste / Fascicolo: 3-2012

Il presente lavoro esamina le principali implicazioni dell’Emission Trading Scheme Europeo (EU ETS) sul sistema di accounting e reporting delle imprese e verifica l’influenza di alcune variabili sulla disclosure delle informazioni sui diritti di emissione e sul climate change. Lo studio ha ad oggetto un campione di imprese che gestiscono impianti termoelettrici cogenerativi e non cogenerativi e prende in esame le informazioni che queste forniscono in merito ai diritti di emissione nei bilanci 2009; nei documenti che corredano i bilanci (in particolare la relazione sulla gestione); nei rendiconti di sostenibilità 2009 redatti sulla base delle linee guida GRI/G3. I principali risultati conseguiti segnalano la presenza di alcune significative uniformità nei criteri di contabilizzazione adottati dalle imprese e dimostrano che la redazione di un bilancio di sostenibilità influenza il livello di disclosure.

The objectives of this study are to investigate the most important effects of the European Emission Trading Scheme (EU ETS) on corporate accounting and reporting o analyse how certain variables influence the disclosure of emission rights and climate change. The study is based on disclosures made in Annual Reports both in the Financial Review by Management and in Sustainability Reports (2009) of a sample of companies that manage cogenerative and non-cogenerative thermo-electrical plants. The results have shown interesting uniform methods of accounting used by com-panies included in the analysis and the influence played by sustainability reports on the disclosure level.

Keywords: Emission rights, accounting, disclosure, climate change, EU ETS

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