Considering the growing importance of capital markets for corporate financing and operating in the common currency environment, the European Commission developed an ambitious action plan integrating the financial services markets within the European Union (EU). In the area of financial...

Since 2005, all European Union listed firms must comply with IFRS. The resulting mandatory changes in accounting methods have substantially affected reported earnings predictions. Using the FactSet/JCF database that collects 2005 earnings forecasts under both IFRS and local GAAP for European...

The paper present the nonprofit entities accounting regulation in Italy and in Spain in an European perspective. After a presentation of activities of nonprofit entities and difference in their governance, the paper presents the accounting regulation for nonprofit entities in Italy...

Since 2005, listed EU companies apply IFRS to prepare their consolidated financial statements. Users might get the impression that these financial statements are comparable now. However, differences in application of IFRS still exist. These differences can have a negative impact on the...

In a recent issue of this journal, Argiles and Slof (2001) analysed the main features of the European Farm Accountancy Database Network (FADN) against the backdrop of IAS 41, the new international accounting standard on agriculture, and arrived at the conclusion that FADN offers an excellent...

Environmental reporting has become rather common for many multinationals, but how and to what extent this differs for the Triad regions is largely unknown. This paper investigates the differences in patterns and trends in reporting by Triad multinationals, also examining whether, in line with...

We find that the adjustments to net income resulting from mandatory 2005 adoption of IFRS in Europe are relevant to investors in financial as well as non-financial firms. However, we find differences in value relevance of the aggregate net income adjustment and adjustments relating to several...

The objective of this work is to consider fair view from a conceptual perspective. Our starting point is the origin of the concept and its development. In the beginning the concept did not have the relevance that it later received, especially from the appearance of the 4th European Directive....

This study provides comparative tests for the decision usefulness of four accounting alternatives for emission rights. In current accounting practice, cost-based net approaches as well as cost- and market-based gross approaches coexist. Modelling the available accounting treatments as reporting...

We examine firm characteristics of early adoption of international financial reporting standards (IFRS) including company's value, business complexity, corporate governance characteristics, and national levels of bureaucratic formalities in business. Because early adopters benefit from a...