The Securities and Exchange Commission (SEC) of the U.S. has recently proposed that all U.S. firms be required to issue financial statements in accordance with IFRS by 2014. Under IFRS, the rules for measurement of fixed assets are presented in IAS 16, which allows firms to choose either the cost model or the revaluation model. In this study, I investigate the effect of adopting the IFRS standard for fixed asset revaluation by examining the relationship between changes in revaluation reserves and stock prices. Out of the 15 countries used for the analyses, five countries have revaluation reserves that are statistically significant in explaining the market value of equity, suggesting that revaluation reserves are value relevant for those countries. I further break down the sample countri...
Comprehensive guidance does not exist on how to account for expenses incurred in developing and purchasing internal use computer software, but the AICPA accounting standards executive committee and the FASB emerging issues task force are working to remedy the situation. The question is when to capitalize and when to expense software development costs. The standards committees are employing a fixed asset model to these expenses. Improved reporting of intangible assets is needed because of the disparity between book and market values that can result from inadequate reporting.
NEW YORK, Dec. 9, 2011 /PRNewswire/ -- In the current low-yield environment, many institutional investors--specifically defined- benefit plan sponsors--are faced with a predicament: lower yields on their assets and rising liability values. As a result, investors are intensifying their efforts to bolster returns to fund increasing plan obligations. (Logo: http://photos.prnewswire.com/prnh/20091204/CSLOGO )
With the consolidation in banking over the past 20 years, interest in the comparative performance of big and small banks intensified. This study expands this research and examines the profitability of intermediation (measured by net interest margin or NIM) through a longitudinal model that uses panel data. Banks are assigned to one of five asset classes for each year of the 1992-2005 period, and the classes serve as the panels. Results show that interest rate effects on NIM vary by asset class, but the presence of economic effects and fixed effects on NIM depends on the model's specifications.
Under full accrual, for example, fixed asset purchases are capitalized as assets, depreciation is expensed, and bond issues represent liabilities. Under modified accrual, for example, fixed asset purchases represent expenditures, depreciation is not recorded, and bond proceeds show as a financing source much like a revenue. The management staff and the elected officials who negotiate with employee labor unions, for example, are no longer quick to grant such delayed benefits as paid postemployment health care because expenses appear immediately.
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