The Application of Fair Value Accounting in Bosnia and Herzegovina

Pobrić, Amira

doi:10.7251/ace1931149p

Cited by 4 publications

(1 citation statement)

References 18 publications

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“…A survey conducted on a sample of 1,100 companies in South Korea reveals that about 18% of companies apply the revaluation model during 2008 and 2009 (Baek & Lee, 2016). Pobrić (2019), based on a sample of 190 companies in Bosnia and Herzegovina (B&H) that applied full IFRS for preparation of financial statements for 2017, finds that more than 75% of the observed companies use the cost model for all owner-occupied property and plant and equipment, about 15% use the revaluation model for the same assets, while about 8% use the revaluation model to measure some (not all) items of these assets.…”

Section: Literature Reviewmentioning

confidence: 99%

Subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia

Milašinović¹,

Obradović²,

Karapavlović³

2022

Anali Ekon fak Subotica

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The aim of this paper is to consider the practice of subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia, i.e., to determine whether the preparers of financial statements make greater use of the historical cost model or the model based on fair value. The sample consists of 220 hotel companies in the Republic of Serbia and the Republic of Croatia, observing their financial reports for 2019. The research reveals that most hotel companies in both countries subsequently measure owner-occupied property and plant and equipment according to the historical cost model. Hotel companies in Serbia most often apply the fair value model for subsequent measurement of investment property, while hotel companies in Croatia most often apply the historical cost model in the same context. We also find that a large number of hotel companies in the observed countries do not disclose the basis for subsequent measurement of property (including investment), plant and equipment in the notes to their financial statements, which means that the quality of financial reporting on those assets in the hotel companies should be improved.

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Section: Literature Reviewmentioning

confidence: 99%

Subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia

Milašinović¹,

Obradović²,

Karapavlović³

2022

Anali Ekon fak Subotica

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International Accounting and Auditing Standards Adoption in Non-EU Eastern European Countries: Review of Regulations and Literature

Rykaczewski

Thevenot

Vulcheva

2021

Journal of International Accounting Research

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In this paper, we review the regulations and research on the adoption of international accounting and audit standards in eleven Eastern European countries outside of the European Union. We find many regulatory commonalities among these jurisdictions related to their Communist-bloc heritage. The state remains the most important stakeholder and tax accounting dominates financial reporting. The work of local auditors is considered less reliable than that of their Big 4 counterparts. International organizations and the Big 4 auditors provide stimuli for and assistance with international standards’ adoption. Accounting and audit research is limited. The scarcity of data forces most authors to focus on the qualitative evaluation of accounting and audit reforms. Some opt for surveys. Few papers include empirical analyses. Our review covers jurisdictions, which have received limited attention in prior literature. We inform future empirical work and speak to the generalizability of previous research findings to this set of countries.

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Implications of applying fair value accounting to modern financial reporting

Petrović¹,

Radosavac²,

Mashovic³

2023

J Process Man & New Technol

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Fair value accounting is a concept whose main goal is to provide quality information about financial status, success and cash flows in order to satisfy the informational needs of investors. By introducing this concept, the focus is placed on the balance sheet and not on the income sheet statement as was in the case of the historical cost concept. The goal of financial reporting is to show assets, liabilities and net assets in the balance sheet at fair value on the balance sheet date. The subject of research in this work is the application of fair value accounting, which will be shown on a concrete example in which equipment will be evaluated according to the concept of historical cost, and then the equipment will be evaluated according to the concept of fair value. After that, a comparison of these two concepts will be made, in order to present the financial effects of valuation on assets and liabilities. The importance of applying historical cost accounting is the correct periodization of income and expenses, while the importance of fair value accounting is the presentation of assets and liabilities according to current market prices. The elaborated moments resulted in the reconciliation and unification of these two concepts, which is realized by the hybrid model of financial reporting.

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The Application of Fair Value Accounting in Bosnia and Herzegovina

Cited by 4 publications

References 18 publications

Subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia

Subsequent measurement of property, plant and equipment in hotel companies in the Republic of Serbia and the Republic of Croatia

International Accounting and Auditing Standards Adoption in Non-EU Eastern European Countries: Review of Regulations and Literature

Implications of applying fair value accounting to modern financial reporting

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