Template-type: ReDIF-Article 1.0 Author-Name: David Alexander Title: Directive 2013/34/EU, Article 6 An Analysis and some Implications. A Research Note Abstract: This research note analyses a number of implications of Article 6 of the new EU accounting Directive. Two avenues are explored in some detail. The first is the meaning, or non-meaning, of the measurement basis provisions of the Directive, covered in Article 6 with derogations in Articles 7 and 8, in the context of the previously declared intention to no longer allow the use of current replacement cost. The second relates to the extraordinary flexibility, indeed confusion, relating to the substance/form distinction, both in principle from Article 6, and by example relating to consolidation in Article 22. The Directive is argued to be sufficiently incompetent, ambivalent, and at times internally inconsistent, to allow a considerable degree of de facto carte blanche to Member States. Perhaps it should be called the anti-harmonisation directive. Classification-JEL: Keywords: Note: Pages:5-22 Volume: 2015/1 Year: 2015 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=54544&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2015-001001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=54544 Template-type: ReDIF-Article 1.0 Author-Name: Francesco Avallone Author-Name: Claudia Gabbioneta Author-Name: Paola Ramassa Author-Name: Marco Sorrentino Title: Why Do Firms Write Off Their Goodwill? A Comparison of Different Accounting Systems Abstract: Increased comparability of financial statements across adopting countries is one of the main objectives of IFRS adoption. The level of achievement of this objective, however, is still debatable. While some studies have documented that crosscountry comparability of financial statements has increased after IFRS adoption, other studies have found that comparability has actually decreased since 2005. We contribute to this debate by studying whether the motivations for goodwill writeoff are the same or vary across countries with different accounting systems. Although a good deal of research has investigated the motivations for goodwill writeoff, our study is the first to analyze whether these motivations vary across countries with different accounting systems. We find that firms that expect low cash flows in the future are more likely to report goodwill write-offs if they are located in countries with an Anglo-Saxon accounting system than if they are located in countries with a Continental accounting system. These results suggest that IFRS are "interpreted" differently in different countries and that harmonization of financial statements has not been fully achieved yet. Classification-JEL: Keywords: Note: Pages:23-40 Volume: 2015/1 Year: 2015 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=54545&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2015-001002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=54545 Template-type: ReDIF-Article 1.0 Author-Name: Elisa Bonollo Title: Disclosures in Local Healthcare Organizations? Social Reports. ?What?? and ?Why?? An Empirical Analysis of the Italian National Healthcare System Abstract: In recent years, public administration reform and the increase in information requests from citizens has drawn attention to the issue of reporting information (other than ?financial?). Local healthcare organizations, as well as public administrations, have been affected by these developments. This paper presents the results of content analysis conducted on social reports published by Italian local healthcare organizations from 2009-2013 with the purpose of verifying the actual significance of the elements that according to the literature and standard setters, should define the scope and content of social reporting. The study highlights the fact that the healthcare organizations analysed tend to focus on the type and volume of the services provided, while neglecting the connection between predefined objectives and actual performance - as well as stakeholder engagement in the social reporting process. Social reports have the role therefore of being merely a tool for unidirectional communication by the healthcare organization to its stakeholders. Classification-JEL: Keywords: Note: Pages:41-75 Volume: 2015/1 Year: 2015 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=54546&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2015-001003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=54546 Template-type: ReDIF-Article 1.0 Author-Name: Simone Aresu Title: Graphical Reporting in Italian Annual Reports during the Financial Crisis: Impression Management or Incremental Information? Abstract: This paper investigates whether, before and during the global financial crisis, Italian firms have used financial key performance indicators graphs in the annual reports as impression management tools, to portray a more favourable picture of the firm?s performance than is warranted. This study shows that, during the financial crisis, firms have increased the number of graphs and decreased favourable distortions, although graphs continued to be designed inaccurately. The findings could reflect an increased public scrutiny on the firm?s performance, during the financial crisis. As a theoretical implication, this paper contributes to the existent financial reporting literature by showing that graphs are not necessarily used in line with an agency theory-based impression management, which is the dominant perspective to explain the graphs? usage in the annual reports during periods of performance upturn. Moreover, it shows that the institutional context can affect voluntary disclosure practices at a firm-level. As a practical implication, this study suggests to annual reports? readers not to necessarily consider managers as self-serving preparers in their graphical reporting strategies. The study also suggests accounting associations, audit firms and other regulatory bodies to create a set of guidelines for a correct graph?s use and design. Classification-JEL: Keywords: Note: Pages:77-106 Volume: 2015/1 Year: 2015 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=54547&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2015-001004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=54547 Template-type: ReDIF-Article 1.0 Author-Name: Raffaele Fiume Author-Name: Tiziano Onesti Author-Name: Mauro Romano Author-Name: Marco Taliento Title: Dialogue with standard setters. Business Combinations under Common Control: Concerns, Criticisms and Strides Abstract: Although excluded from the scope of IFRS 3, business combinations under common control (BCUCCs) are widespread transactions that take place all over the world in different forms, often as a reorganization or restructuring among related parties. These transactions occur when entities are ultimately - not transiently - controlled by the same party/ies before and after the combination (which is neither a capital market nor an arm?s length transaction and devoid of economic substance: indeed, no change of control is entailed). The scarce and fragmentary literature, not to mention the lack of clear consensus on the topic, contributes to the prevailing concerns on how to account for BCUCCs. In this complex context, the purpose of this work is to assess the possible and various accounting methods and identify the most suitable, accredited and consistent techniques. Classification-JEL: Keywords: Note: Pages:107-126 Volume: 2015/1 Year: 2015 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=54548&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2015-001005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=54548 Template-type: ReDIF-Article 1.0 Author-Name: Claudia Gabbioneta Title: Book Review Abstract: Classification-JEL: Keywords: Note: Pages:127-131 Volume: 2015/1 Year: 2015 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=54549&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2015-001006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=54549