Harmonization, Comparability, and Fair Value Accounting

Barlev, Benzion; Haddad, Joshua Rene

doi:10.1177/0148558x0702200307

Cited by 47 publications

(33 citation statements)

References 9 publications

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“…This actor is called fair value in order to get high quality comparability of accounting numbers. Barlev and Haddad (2007) in 2007 have promoted this one. Revsine (1985) in 1985 have claimed that "the resource allocation depends on the comparison of the investment alternatives", while Radebaugh, Gray, and Sidney (1997) in 1997 and have considered the efficiency level of national resources utilization and international wealth allocation.…”

Section: Literature Review Data Assumptions and Research Methodsmentioning

confidence: 99%

Historical Cost Accounting and International Accounting Harmonization

Cristea¹

2017

PROSOC

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The relationship between international accounting harmonization and fair value accounting is one biunivocal: fair value accounting has the effect of catalyst for international accounting harmonization generating relevant information required to the quality of fair value accounting figures. Management Accounting is focused on the historical cost. This is highlighted in the revaluation: the notes must be submitted separately for each item in the balance of nature revalued property and equipment, the following information: the value of assets at historical cost and revalued amount cumulative value adjustments; or value at the balance sheet date of the difference between the unrealized gains and historical cost accounting and the cumulative amount of the additional value adjustments.

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Section: Literature Review Data Assumptions and Research Methodsmentioning

confidence: 99%

Historical Cost Accounting and International Accounting Harmonization

Cristea¹

2017

PROSOC

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“…The research draws from the literature on international accounting harmonization including the works of Leuz (2010), Barlev & Haddad (2007), Carmona & Trombetta (2008), and Zeff (2007Zeff ( , 2012. The section of the paper dealing with sustainability reporting draws from the work of Mefford (2011), Voegtlin & Scherer (2015), Scherer & Palazzo (2011), Scherer, Palazzo, & Seidl (2013.…”

Section: Analytical Approach and Methodologymentioning

confidence: 99%

“…The objective of both is to narrow down or eliminate differences between national accounting standards in order to increase the level of comparability of financial information. Barlev & Haddad (2007) suggest that the definition of harmonization would vary as the level of expected comparability increases. Thus, a high level of comparability would mean "a complete harmonization".…”

Section: Literature Review: International Accounting Harmonizationmentioning

confidence: 99%

“…In common law countries (USA, UK, New Zealand) the interests of shareholders are a priority, whereas in civil law countries (Germany, Italy, France) the financial statements are mostly considered of primary interest for banks and tax authorities (Barlev & Haddad, 2007). The accounting harmonization is not flexible enough to take into account these national peculiarities since the IFRS are obviously geared towards the common law tradition.…”

Section: Literature Review: International Accounting Harmonizationmentioning

confidence: 99%

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A Case for International Financial Reporting Standard on Sustainability: A Critical Perspective

Cherepanova¹

2017

JMS

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The domain of sustainability reporting has seen a substantial proliferation in recent years. Many standards, guidelines, and voluntary regulatory mechanisms have emerged, yet a specific IFRS on sustainability doesn't exist. This paper provides a critical analysis of desirability for the institutionalization of sustainability reporting in a form of IFRS standard. First, I discuss strengths and weaknesses of IFRS and their adoption. Next, I delineate the complex multi-dimensional nature of accounting harmonization and specifically highlight the existing barriers to the successful advancement of this process. I provide a justification why a complete convergence of national accounting standards is unlikely and even undesirable, given the diversity of cultures, enforcement mechanisms, tax and legal systems around the world. In the final section I review the concept of sustainability in its breadth and depth, and analyze how the usage of analogy to financial reporting may impose constraints on the scope of sustainability development goals. By contrast to financial reporting, sustainability reporting is addressed to a much wider group of stakeholders whose engagement is crucial for meaningful sustainable development goals. The paradigm of the IFRS does not render possible embracingthis wider scope, therefore, their applicability for the purposes of sustainability reporting is limited.

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“…Another argument in favor of fair value accounting measures when compared to historical cost is that, fair values improves the international accounting harmonization in terms of comparability and faithful representation between different global business (Barlev and Haddad, 2007).…”

Section: Arguments That Support Fair Valuementioning

confidence: 99%

The Effect of Fair Value Accounting on Jordanian Investment Properties

Ahmad¹,

Aladwan²

2015

International Journal of Financial Research

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The financial reporting in Jordan has witnessed significant improvements in the past twenty years; these improvements were a result from the adoption of the International Financial Reporting Standards (IFRS). The main objective of this study was to examine whether developments in financial reporting environment following the adoption of IFRS resulted in more relevant financial information over time. This study uses a quantitative methodology in addressing the research questions. The relevance of fair value has been tested by studying the effect of fair value measurement applications for investment properties on the financial performance of Jordanian firms, its share prices and market values, the study also examined the effect of unrealized gains and losses on financial statements. Ohlson (1995) theoretical frameworks have been used to examine this relationship. A sample of Jordanian firms (consisting of 41 real estate companies) listed in the Amman stock exchange during the 2008-2011 time period has been used. Our study findings, based on the results of multiple regression analysis showed that financial performance of Jordanian real estate companies is significantly positively related to investment properties valued at fair values. Furthermore, the book value incremental information content is greater than information content of the net income and the unrealized gain & losses inclusion in owners' equity increases the explanatory power of the firm's market value model of real estate companies. This study concludes that fair value accounting measurements for Jordanian real estate companies have been value relevant during all the period of the study.

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Harmonization, Comparability, and Fair Value Accounting

Cited by 47 publications

References 9 publications

Historical Cost Accounting and International Accounting Harmonization

Historical Cost Accounting and International Accounting Harmonization

A Case for International Financial Reporting Standard on Sustainability: A Critical Perspective

The Effect of Fair Value Accounting on Jordanian Investment Properties

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