This paper uses the tools of computational linguistics to analyze the qualitative part of the annual reports of UK listed companies. More specifically, the frequency of words associated with praise, concreteness and activity is measured and used to forecast future stock returns. We find that our...

Amid the growing discontent of the Romanian business environment regarding the collection and hence, payment to the state budget of the value added tax (VAT) related to the claims arising from the goods delivered, work performed or services provided to third parties, claims that, because of the...

The purpose of this paper is to present experiences from the use of accrual accounting information in the public higher education sector in Romania and, thus, to contribute to our understanding of the prospects for using that kind of accounting in public organizations.

The approach by comparison establishes the limits of the shares market value by analyzing the prices, normally paid for shares to the competing entities to the one evaluated. In order to select the comparison base, the motivations of the parties involved in the transaction must be identified....

Paradoxically, while the economic crisis has had an impact on many economic sectors worldwide automotive industry has become the most important sector of the economy emerging Europe. For Romania, the automotive industry has become a major contributor to achieving the export sector, and major...

Why are some global financial crises more difficult to recover from and overcome than others? What steps are necessary in ensuring that financial stability and recovery is facilitated? What kind of environment has the previous financial environment evolved to and what kind of financial products...

Residual income as commonly described in academic papers and in real-life applications may be formally described as a function of three variables: (i) the capital invested, (ii) the rate of return, (iii) the opportunity cost of capital. This paper shows that a different paradigm of residual...

In the lead-up to the implementation of Basel III, European banks bought back debt securities that traded at a discount. Banks engaged in these Liability Management Exercises (LMEs) to realize a fair value gain that the accounting and prudential rules exclude from regulatory capital...

The International Accounting Standards Committee issued the International Accounting Standard 1 Presentation of Financial Statements. The objective of IAS 1 is to prescribe the basis for presentation of general purpose financial statements (GPFS), to ensure comparability both with the entity's...

The monetary unit assumption of financial accounting assumes a stable currency (i.e., constant purchasing power over time). Yet, even during periods of low inflation or deflation, nominal financial statements violate this assumption. I posit that, while the effects of inflation are not...