Template-type: ReDIF-Article 1.0 Author-Name: Giulio Greco Author-Name: Lorenzo Neri Title: Accounting discretion in family firms: The case of goodwill write-off. Evidence from US firms Abstract: This paper investigates whether family ownership affects decisions to take a writeoff of the goodwill and the amount written off. This study is based on a panel of public United States firms. Consistent with predictions based on agency theory and socioemotional wealth (SEW) theory, the findings demonstrate accounting discretion in goodwill impairment is lower in family firms than non-family firms. The results also show that first-generation family firms are more likely to exploit accounting discretion in goodwill impairment decisions than second or later generation family firms, due to greater concerns associated with the negative consequences of the write-off. This paper contributes to previous research on accounting in the context of family firms. Family firms cannot be considered a homogeneous group with the same propensity to exploit the discretion allowed by accounting rules in highly subjective fair value measurements. Generational change significantly influences firms? accounting choices, leading to more credible earnings and asset values for second or later generation family firms. This study also suggests the earnings management literature would benefit from additional in-depth investigation into how the generational stage of family businesses affects accounting discretion. Classification-JEL: G32, G34, M41 Keywords: Note: Pages:5-28 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68858&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68858 Template-type: ReDIF-Article 1.0 Author-Name: Chiara Crovini Author-Name: Giovanni Ossola Title: Is risk reporting a possible link between financial and management accounting in private firms? Abstract: This study represents a theoretical analysis with the purpose to continue the discussion on the relationship between management accounting (MA) and financial accounting (FA), by concentrating on the role of risk reporting as a possible manifestation of their convergence. Moreover, the analysis focuses on the private-firm sector as private firms represent the backbone of the economic system of several countries and little is known about financial and non-financial reporting. Drawing on the neo- Durkheimian institutional theory, this paper develops a conceptual framing that considers risk as an embedded element of the business domain and risk reporting as a direct outcome of the convergence between MA and FA in private firms. Furthermore, the neo-Durkheimian institutional theory emphasizes that the owners and managers? risk attitude is a crucial element affecting risk disclosure, especially in private firms. Classification-JEL: G14, G18, L20, M41, M48 Keywords: Note: Pages:29-60 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68859&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68859 Template-type: ReDIF-Article 1.0 Author-Name: Thomas Ryttersgaard Title: Bridge over troubled water: Is it possible to define other comprehensive income? Abstract: Although other comprehensive income did not exist in the conceptual framework until 2018, it has been a part of IFRS for many years, and it has not been defined based on accounting theory. This paper considers arguments for the current use of other comprehensive income under IFRS and finds that matching and prudence are at the core of other comprehensive income in IFRS despite not being elements of the conceptual framework. This suggests that the concept of other comprehensive income exists because the IFRS standards are founded on a mix of balance sheet-based and income statement-based accounting principles. Based on the characteristics of other comprehensive income and the IASB?s arguments for the recognition of gains and losses in other comprehensive income, this paper proposes a definition of other comprehensive income that can be used to ensure a uniform application of the concept across accounting standards and to reduce risks of inconsistency. Classification-JEL: M41 Keywords: Note: Pages:61-87 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68860&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68860 Template-type: ReDIF-Article 1.0 Author-Name: Elisa Roncagliolo Author-Name: Francesco Avallone Title: The complexity in measuring M&A performance: Is a multi-dimensional approach enough? Abstract: M&A are complex corporate events involving two or more companies and often requiring relevant efforts in order to be successful. For these reasons, both scholars and practitioners are interested in assessing the success rate of M&A and measuring their influence on the corporate performance. Despite the complexity of the M&A phenomenon, previous studies that empirically examine this issue according to an accounting-based perspective, largely adopt single performance measures. Therefore, our study aims to explore whether the use of a multi-dimensional approach in the development of accounting-based performance measures could provide a comprehensive examination of the change in corporate performance due to complex events, such as M&A. In particular, this study assesses the performance of M&A concluded in the European context through the development of multiple accounting-based performance indicators that examine: (i) profitability, (ii) growth, and (iii) financial situation. In addition, we analyse a crucial performance dimension, the cost of employment, which has received limited attention from previous empirical research. Consistently with the multifaceted nature of M&A, results indicate that they provide a mixed impact on different performance measures. Therefore, main findings suggest that the measurement of M&A performance should take into consideration different contextual features Classification-JEL: G34, M41 Keywords: Note: Pages:89-117 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68861&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68861 Template-type: ReDIF-Article 1.0 Author-Name: Raffaele Fiume Author-Name: Tiziano Onesti Author-Name: Giorgio Alessio Acunzo Author-Name: Leo Van der Tas Title: The IASB proposals on the recognition of regulatory assets and regulatory liabilities in the IFRS financial statements Abstract: Classification-JEL: Keywords: Note: Pages:119-126 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68862&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001005 Number: 5 Template-type: ReDIF-Article 1.0 Author-Name: Roberto Di Pietra Author-Name: Stefano Zambon Author-Name: Giuseppe Marzo Title: Book reviews Abstract: Classification-JEL: Keywords: Note: Pages:127-132 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68863&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001006 Number: 6 Template-type: ReDIF-Article 1.0 Author-Name: A cura della Redazione Title: Reviewer 2020 Abstract: Classification-JEL: Keywords: Note: Pages:133-133 Volume: 2021/1 Year: 2021 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68864&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2021-001007 Number: 7