A Study of Accountants' Judgments With Respect to the Provision of Consolidated Financial Statements.
The release of the Australian Accounting Standards Board AASB 1024, Consolidated Accounts, in September 1991 represents a fundamental shift in concept, criteria and approach. The Standard is based on the entity concept and adopts 'capacity to control' as the sole criterion for identifying related en...
| Publicado en: | Abacus Vol. 32; no. 1; pp. 62 - 81 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Mar1996
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=6129512&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 6129512 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00013072 AUB jtl: Abacus issn: 00013072 maglogo: Y pubinfo: dt: Mar1996 vid: 32 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 6129512 10.1111/j.1467-6281.1996.tb00451.x ppf: 62 ppct: 19 formats: fmt: @attributes: type: P size: 718KB tig: atl: A Study of Accountants' Judgments With Respect to the Provision of Consolidated Financial Statements. aug: au: Day, Ron Psaros, Jim affil: Lecturer, Department of Commerce, the University of Newcastle. Senior Lecturer, Department of Commerce, the University of Newcastle. su: Accounting standards Consolidated financial statements Auditors' reports Financial statements Mergers & acquisitions Mathematical variables Auditing standards Australia sug: subj: Australia Accounting standards Consolidated financial statements Auditors' reports Financial statements Mergers & acquisitions Mathematical variables Auditing standards keyword: Judgments ab: The release of the Australian Accounting Standards Board AASB 1024, Consolidated Accounts, in September 1991 represents a fundamental shift in concept, criteria and approach. The Standard is based on the entity concept and adopts 'capacity to control' as the sole criterion for identifying related entities for the purpose of preparing consolidated financial statements. A conceptual (substance-over-form) approach is used to implement the control criterion. In essence, this approach requires accountants to make professional judgments about the existence of control based on the substance of group structures and arrangements rather than their legal form. Concerns about the subjectivity and possible variability of accountants' judgments cast some doubt on the operational effectiveness of the conceptual approach. In response to these concerns, this paper reports the results of an experiment that examines the consolidation judgments accountants make in response to a number of hypothetical scenarios. The purpose of this paper, therefore, is to provide some insights into the likely quality and reliability of consolidation judgments under the conceptual approach adopted by AASB 1024. The results indicate that accountants can be expected to exhibit broad consensus in their consolidation judgments. In addition, an analysis of the variables suggests that the degree of share ownership is the most significant factor in making such judgments. Nevertheless, other factors including the composition of the board of directors, the existence of a special arrangement, and interactions with the other variables also proved to be significant. Overall the study provides tentative support for the conceptual approach adopted in AASB 1024. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: Copyright of Abacus is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. item: Abacus holder: Wiley-Blackwell dt: @attributes: year: 1996 holdings: @attributes: islocal: N |
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