The preparedness of companies to adopt International Financial Reporting Standards: Portuguese evidence

This paper uses ordinal regression, structural equation modelling, and multivariate analysis techniques to investigate the preparedness to adopt IFRS that was exhibited by listed Portuguese companies in August 2003. We find the level of preparedness was significantly associated with company size, commercial internationalization, audit by a ‘Big 4’ accounting firm, and profitability. Our findings will help to indicate the pre-conditions that are likely to spur lagging companies (and countries) to prepare to implement IFRS.     

保障文化多样性与WTO规则的冲突及其协调措施建议

经济全球化条件下,文化表现多样性与贸易之间存在争议。随着联合国《文化多样性公约》的生效,保障文化多样性与世贸组织规则冲突的可能性越来越大。这种冲突的协调目前主要是由世贸组织争端机制解决,但也可以在世贸组织体制外寻求协调解决。     

欧盟间接税协调对泛北部湾次区域合作的启示

作为中国—东盟自由贸易区框架下＂海上次区域＂经济合作的新平台,泛北部湾次区域已逐渐成为中国—东盟自由贸易区的前沿地带。加强该区域内各国的间接税协调,将对整个自由贸易区的经济一体化发展产生重要影响。本文旨在借鉴欧盟间接税协调的实践经验,对泛北部湾次区域合作的间接税协调进行探讨。     

区域经济协调发展与西部大开发

世纪之交,以江泽民为核心的第三代领导集体,提出的西部大开发战略,不仅是对邓小平同志"两个大局"思想的继承和发展,更是对解决区域经济协调发展,全面建设小康社会,最终实现共同富裕的战略部署.新世纪,全国各族人民、尤其是广大西部人民,应抓住这一历史机遇,与时俱进,开拓创新,艰苦奋斗,积极推进西部大开发,实现全国人民由总体小康、全面小康到共同富裕的历史飞跃.     

International harmonization of Japanese accounting standards

Historically, Japanese accounting standards have been quite distinct from International Accounting Standards (IASs) which have been perceived as being modelled on British-American accounting standards. However, in the 1990s, after the publication of E32 in 1989 and the IASC-IOSCO Agreement in 1995, the Business Accounting Deliberation Committee (BADC), the standards-setting body in Japan, has pursued a policy of harmonization with IASs. Accounting standards relating to consolidated financial statements of companies that make cross-border offerings of securities or operate worldwide are being revised drastically. This paper focuses on the development of international accounting harmonization and its impact on Japan.     

论中国金融全球化区域化进程中金融监管法律的协调

中国金融业的全球化与区域化进程对中国的金融监管提出了新挑战,作为金融监管的制度基础,金融监管法律制度同样面临如何适应中国金融业全球化与区域化的问题。本文认为全球化区域化进程中中国金融监管法律的制度建设,应以法律协调的方式进行。本文从分析中国金融全球化区域的特征入手,明确了全球化区域化对中国金融监管法律协调的需求,然后在具体分析国际社会金融监管法律协调实践的基础上,提出中国金融全球化区域化进程中金融监管法律协调的目标、原则及其协调方式的选择建议。     

A Statistical Model of International Accounting Harmonization

This article shows how the difference between the observed frequencies of accounting policy choice and the outcome of a random policy choice, where each available method has an equal chance of being selected, may be fully explained with a statistical model. The process of harmonization is described in a way that identifies departures from equiprobable accounting policy choice as either: (a) the systematic effects of harmonization, or (b) the effects of systematic divergence from international harmony where the frequency of adoption of differing accounting methods varies across countries, or (c) the effects of company-specific accounting policy choices. The understanding of harmony that underlies previous attempts to measure harmonization is such that, with respect to a particular financial statement item, a situation of maximum harmony is reached when all companies in all countries use the same accounting method. From the standpoint of modelling the harmonization process. however, a different concept of harmony may be more useful. In this article, therefore, we posit a state of distributional harnzony in which, other things being equal, the expected distribution of accounting policy choices is the same in each country. In this theoretical state. the odds of selecting a given accounting method from those available for a particular financial statement item are identical for each country. A major advantage of this benchmark is that it provides a basis for distinguishing between two possibly conflicting components of the international harmonization process: between-country harmonization and within-country standardization. A hierarchy of nested statistical models is then used to describe accounting policy choices made by companies with an international shareholding and registered in Europe, where the European Union has been involved in a program of accounting harmonization. The accounting policies analysed in depth in this article comprise the treatment of goodwill and accounting for deferred taxation. The results are compared with the comparability index method used previously in harmonization research studies.     

Evaluating National Capacity for Direct Participation in International Accounting Harmonization: France as a Test Case

This article evaluates national capacity for direct participation in international accounting harmonization through its principal current formal institutional forum, the International Accounting Standards Board (IASB), with France as a test case. The objective is to derive propositions by which individual nation states, their indigenous accounting professions and other significant elements of their institutional framework might: (a) evaluate their present national capacity to contribute to international accounting harmonization; and (b) address policy issues relevant to development and deployment of capacity for effective engagement. The objective of the framework of analysis employed is to infer essential or desirable attributes for direct participation in international accounting harmonization by reference to the observed attributes of the initial IASB appointments. The likelihood and sustainability of direct French participation in the process is then assessed in relation to those attributes.     

Accounting for deferred tax in Japanese Banks and the consequences for their international operations

In recent years, financial reporting has changed in Japan towards the requirements of internationally recognized accounting standards. At the same time, banks suffered significant bad debts on their loans and it became difficult to maintain capital adequacy ratios at the level required for international operations. In this context, using as case studies the five major banking groups in Japan from 2002 to 2004, we address four related research questions concerned with the importance of deferred tax for the maintenance of regulatory capital. The responses of the government, regulatory agencies and auditors to problems with deferred tax accounting are also considered. We find that, without deferred tax assets, the five major banking groups would not have been allowed to operate internationally. We also suggest implications, and conclude that the solutions to these problems lie not just with the accounting profession but also with the government and regulatory agencies, as part of wider financial, rather than accounting, reform.     

How far from harmonization are sanitary,phytosanitary and quality-related standards? An exporter’s perception approach

Harmonization of trade regulations and standards is perhaps the most contentious issue regarding export markets due to the impacts that it can have on trade. We determine the extent of harmonization as perceived by exporters with respect to the major Sanitary and Phytosanitary Standards (SPSs) and quality measures which Chile faces in 16 international fresh fruit markets. The methodology combined qualitative and quantitative techniques. First, the most relevant safety and quality standards and regulations were identified and ranked. Second, a representative sample of exporters was interviewed to assess their perceptions regarding the level of stringency across markets and time for selected regulations. Perceptions were ranked on a likert scale and based on this scale a stringency index was constructed. The results show that Chile faces regulations which can be grouped into the following categories: (i) phytosanitary measures; (ii) tolerance limits for pesticide residues and contaminants; (iii) hygiene requirements; (iv) labeling, marking and packaging; (v) product and process standards; and (vi) registration procedures and other import requirements. The number of regulations varied among countries, ranging from 13 to 3 out of the 14 considered in the study. The most stringent country among the sample as perceived by exporters was México, whereas the least stringent was Saudi Arabia. Additionally, exporters agreed that stringency has increased over time with an average of 15% between 2005 and 2009.