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Research Article
Financial Reporting and Accounting Treatment of Crypto Assets: Professional Accountants Perspectives
Issue:
Volume 9, Issue 1, April 2024
Pages:
1-11
Received:
27 October 2023
Accepted:
11 December 2023
Published:
18 January 2024
Abstract: Crypto asset is a broad term covering all assets stored on distributed ledgers using block chain technology. Crypto assets are used to undertake commercial transactions and serve as investment options globally; yet there are no specific accounting standards that guide how crypto assets should be recorded in financial statements. There are few studies that address the issue of accounting treatment of crypto assets. The lack of literature has resulted in the need to investigate the views of professional accountants on how crypto assets should be reflected in financial statements. The research relied on primary data and adopted an expert sampling technique which is a form of judgmental sampling technique. The data was collected using questionnaire surveys to get the views of sixty-four professional accountants in Nigeria. The study attempts to contribute to the existing literature on crypto assets by providing a practical insight into the accounting treatment of crypto assets. The compliance of crypto assets having the features of assets in accounting was established by this study. According to the respondents’ crypto assets can be classified in various forms of assets like intangible assets, cash and cash equivalent, inventory, and financial instrument. Also, crypto assets can be classified as short-term assets or long-term assets. This is because of the accounting concept of substance over form that requires that the economic substance of transactions and events are decisive for the recognition and measurement of transactions in financial statements. The study concluded that crypto assets have an impact on financial statements of entities that hold the assets. The study recommends that there is need for standalone standards specifically for crypto assets to avoid the discretionary judgment current relied upon. There is also the need for the regulation of crypto assets in general.
Abstract: Crypto asset is a broad term covering all assets stored on distributed ledgers using block chain technology. Crypto assets are used to undertake commercial transactions and serve as investment options globally; yet there are no specific accounting standards that guide how crypto assets should be recorded in financial statements. There are few studi...
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Research Article
Factors Impact on Capital Structure Fluctuation of Enterprises Listed on Hose, Vietnam
Le Trung Thanh,
Tran Dinh Van*
Issue:
Volume 9, Issue 1, April 2024
Pages:
12-18
Received:
3 January 2024
Accepted:
12 January 2024
Published:
23 January 2024
Abstract: Changes in corporate capital structure were often considered on a yearly basis. However, to more deeply evaluate the fluctuations in corporate capital structure, we collected quarterly panel data of 180 enterprised listed on the Hochiminh Stock Exchange (HoSe, Vietnam) for researching. Regression techniques such as Pooled-OLS, FEM, REM and GLS were used to test the impact of a number of factors on the fluctuation of the capital structure of enterprises listed on HoSE in the period 2015 - 2020. The results of regression analysis showed that profitability, asset turnover, firm size (asset scale), short-term debt ratio and long-term debt ratio showed a positive impact on capital structure fluctuations, meanwhile ROS, firm size (revenue scale), short-term asset ratio and net cash flow showes negative impact on capital structure fluctuations. The findings based on balanced panel data collected quarterly showed differences compared to some previous researches on the same topic, on the other hand, added empirical evidence on the statistically significant relationship of some factors to fluctuations of enterprise capital structure. The results suggested future research directions, continuing empirical researches to demonstrate the impact of regional factors, corporate governance, macro factors,... on fluctuation of capital structure or use an more effective scale of capital structure fluctuations.
Abstract: Changes in corporate capital structure were often considered on a yearly basis. However, to more deeply evaluate the fluctuations in corporate capital structure, we collected quarterly panel data of 180 enterprised listed on the Hochiminh Stock Exchange (HoSe, Vietnam) for researching. Regression techniques such as Pooled-OLS, FEM, REM and GLS were...
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Research Article
New Materiality Concept towards enhanced Financial Reporting Quality (FRQ)
Asmaa Salah El Dien Abd El alim Fath El Bab Nasar
Issue:
Volume 9, Issue 1, April 2024
Pages:
19-28
Received:
27 December 2023
Accepted:
8 January 2024
Published:
5 February 2024
Abstract: The purpose of this study is to ascertain the current application of the materiality concept across financial reports of firms listed on the Egyptian Stock market (EGX), as well as it aims to empirically examine the effects of the new materiality concept on financial reporting quality (FRQ). Data utilized within the current study comprises secondary data gathered from the Egyptian stock market and company’s official website. Data collection method utilized within this study involved doing a content analysis of the yearly financial reports. The study population comprised 100 Companies that were listed on the Egyptian stock market (EGX 100 index) over two distinct time periods (period pre-application of new standards in 2018 and period post-application of new standards in 2021). The technique employed for data analysis was multiple linear regression analysis. Moreover, this study provides remarkable contributions to current literature body. Firstly, it provides a novel measure for the materiality concept. Furthermore, it provides new empirical evidence that materiality concept significantly impacts the financial reporting quality. The findings offer insights to the firms Listed on the Egyptian Stock Market regarding current practices of the materiality concept and how they can appropriately apply the new materiality concept across their financial reports.
Abstract: The purpose of this study is to ascertain the current application of the materiality concept across financial reports of firms listed on the Egyptian Stock market (EGX), as well as it aims to empirically examine the effects of the new materiality concept on financial reporting quality (FRQ). Data utilized within the current study comprises secondar...
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Research Article
The Impact of COVID-19 on the Quality of Auditing from the Point of View of Jordanian Certified Public Accountants
Walid Zakaria Siam*,
Sajeda Abdel Rahman Abdel Hamid Hamdan
Issue:
Volume 9, Issue 1, March 2024
Pages:
29-45
Received:
24 January 2024
Accepted:
14 February 2024
Published:
27 February 2024
Abstract: The aim of this study is to investigate the impact of the COVID-19 pandemic on audit quality from the perspective of Jordanian Certified Public Accountants. It also aims to identify any differences in the views of Jordanian Certified Public Accountants regarding this impact based on respondents' demographic characteristics such as gender, academic qualification, scientific specialization, job title, years of experience in audit, and professional certifications. A quantitative approach was used in this study, where 150 questionnaires were distributed to 150 Jordanian certified public accountants, and 144 questionnaires were retrieved (27 of them were incomplete), resulting in 117 questionnaires being used for statistical analysis. The results of the study indicated that the COVID-19 pandemic had a significant impact on audit quality through the dimensions of audit fees, going concern assessment, audit procedures, auditor's experience, audit period, and audit firm size. The results also showed that there were differences in the views of Jordanian Certified Public Accountants regarding the impact of the COVID-19 pandemic on audit quality based on academic qualification, job title, and years of experience in auditing, while no differences were attributed to gender, scientific specialization, and professional certifications of the respondents. Based on the study's findings, the researcher provides several recommendations, including: Audit firms should prioritize the development of skills and experiences of their employees through alternative training programs and remote work arrangements. Audit firms should also review their audit processes and procedures to adapt to the new business environment created by the COVID-19 pandemic. Regulatory bodies should consider reviewing their oversight standards to address the exceptional challenges posed by the COVID-19 pandemic especially with regard to auditing and quality auditing.
Abstract: The aim of this study is to investigate the impact of the COVID-19 pandemic on audit quality from the perspective of Jordanian Certified Public Accountants. It also aims to identify any differences in the views of Jordanian Certified Public Accountants regarding this impact based on respondents' demographic characteristics such as gender, academic ...
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