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on Accounting and Auditing |
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Issue of 2022‒12‒05
five papers chosen by |
| By: | Reichelstein, Stefan |
| Abstract: | Current corporate disclosures regarding carbon emissions lack commonly accepted accounting rules. The accrual accounting system for carbon emissions described here is grounded in the rules of historical cost accounting for operating assets, enabling the preparation of balance sheets and flow statements. The asset side of the balance sheet reports the carbon emissions embodied in operating assets. The liability side conveys the firm's cumulative direct emissions into the atmosphere as well as the cumulative emissions embodied in goods acquired from suppliers less those sold to customers. Flow statements report the cradle-to-gate carbon footprint of goods sold during the current period. Taken together, balance sheets and flow statements generate multiple indicators of a company's past, current and future performance with regard to carbon emissions. |
| JEL: | M41 M48 Q53 Q54 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:22052&r=acc |
| By: | Alessandro Ferrari; Sébastien Laffitte; Mathieu Parenti; Farid Toubal |
| Abstract: | We develop a quantitative general equilibrium model of multinational activity embedding corporate taxation and profit shifting. In addition to trade and investment frictions, our model shows that profit-shifting frictions shape the geography of multinational production. Key to our model is the distinction between the corporate tax elasticity of real activity and profit shifting. The quantification of our model requires estimates of shifted profits flows. We provide a new, model-consistent methodology to calibrate bilateral profitshifting frictions based on accounting identities. We simulate various tax reforms aimed at curbing tax-dodging practices of multinationals and their impact on a range of outcomes, including tax revenues and production. Our results show that the effects of the international relocation of firms across countries are of comparable magnitude as the direct gains in taxable income. |
| Keywords: | Profit Shifting; Tax Avoidance; Tax Havens, International Tax Reforms, Minimum taxation, DBCFT, Multinational firms |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/351241&r=acc |
| By: | Danzer, Stephan; Hacker, Bernd |
| Abstract: | Technological advancement and digitization have become more and more important in recent years. This is particularly true for credit institutions. The core banking systems used for internal processes are therefore subject to increasing digital change. In many banks, outdated IT systems are still in use, which often lack the basic functionalities that are essential for innovations. In order to achieve a sufficient functionality of the information technology in the company, core banking systems are implemented, which achieve the mapping of almost all bank-specific processes. In addition, so-called software robots are used to automate standard processes with increasing frequency. Due to the lack of standard products in previous years, there is an abundance of in-house developments. While self-developed systems dominate in the European as well as North and South American markets, earlier in-house developments in the German-speaking countries have mainly been replaced by standardized core banking systems. The introduction of standard ERP systems poses a major challenge for financial institutions. Not only does the implementation effort in terms of financial resources and working time play an important role, but also the ongoing expenses for maintenance and further development. These investments not only secure and promote the ability to innovate in the age of digitization, but also create an asset in the company. The evaluation for the accounting representation is an increasing challenge due to the steadily increasing complexity of information processing technologies. Questions arise regarding the access assessment, the follow-up assessment and the handling of previous systems. In the following, accounting according to the international accounting standards for the implementation of the ERP system SAP S/4HANA in credit institutions is shown. The procedure and the results are not limited to banks, but can be applied analogously to many industries. |
| Keywords: | Digitization |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rpaebs:32021&r=acc |
| By: | Pier-André Bouchard St-Amant; Nicolas Bolduc; Judelin Michel Ducatel; Guillaume Dumais |
| Abstract: | On December 8, Finance Minister Eric Girard will present an economic and fiscal update. Will the promises of tax cuts made during the recent election campaign materialize? Any exercise to revise the tax system must balance the goals of redistributive justice and economic growth. In a context where the government wants to help taxpayers cope with inflation, but maintains its objectives of returning to a balanced budget, the choices are difficult. In this report, Pier-André Bouchard St-Amant and his co-authors rely on the economic theory of optimal taxation and make recommendations for Quebec. Their analyses and simulations show that the priority should be lower effective marginal tax rates for taxpayers earning between $30,000 and $50,000. A zero-cost reform could imply an increase in the tax shield tax credit offset by an increase in tax rates for higher-income taxpayers. Le 8 décembre prochain, le ministre des Finances Éric Girard présentera une mise à jour économique et financière. Les promesses de baisses d’impôt faites lors de la récente campagne électorale vont-elles se concrétiser ? Tout exercice de révision du système d’impôt doit mettre dans la balance les objectifs de justice redistributive et de croissance économique. Dans un contexte où le gouvernement veut aider les contribuables à faire face à l’inflation, mais maintient ses objectifs de retour à l’équilibre budgétaire, les choix sont difficiles. Dans ce rapport, Pier-André Bouchard St-Amant et ses coauteurs s’appuient sur la théorie économique de la taxation optimale et font des recommandations pour le Québec. Leurs analyses et simulations montrent que la priorité devrait être une baisse des taux marginaux effectifs d’imposition pour les contribuables qui gagnent entre 30 000 $ et 50 000 $. Les auteurs suggèrent qu’une bonification du crédit d’impôt du bouclier fiscal compensée par une augmentation des taux d’imposition pour les contribuables aux revenus plus élevés permettrait une réforme à coût nul. |
| Keywords: | Optimal taxation,reforms,tax rates,income, Taxation optimale,réformes,taux dâimposition,revenu |
| Date: | 2022–11–22 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirpro:2022rp-21&r=acc |
| By: | Kuster, Christian; Álvarez, Jorge; Lezcano, Mikaela; Álvarez-Vaz, Ramón Dr. (Universidad de la República) |
| Abstract: | The objective of this work is to measure and describe how the profitability of the Uruguayan agricultural sector evolved, within the framework of the theory of the firm, considering the international and local antecedents regarding the performance of the item. This theory has historically accounted for the multiplicity of factors that act as determinants of business performance. However, the empirical results obtained have been disparate for companies in general and particularly scarce for companies agricultural, depending in many cases on the line of business of the company and the region. The database of the present work is constituted by the Uruguayan agricultural companies that are taxpayers of the Rural Wealth Tax and the Income Tax of Economic Activities and presented their annual Accounting Statements before the General Directorate Tax (DGI) in the period July 2009 to June 2017, comprising 8 exercises. The size dimension of these companies is included in the study through the representative variables of their volume of production and sales, their level of assets and the number of personnel employed. The dimension of the financial economic performance of the companies is measured through the ROA (Return On Assets) indicator. To identify patterns of profitability evolution, longitudinal clusters were used as a methodological strategy. allological. The results of the study show three groups of companies with ROA trajectories similar to the internal one but very different from each other, which served as input to characterize their economic structure, obtain indications about the determinants of financial economic performance and observe its evolution in the analyzed period. Abstract El objetivo de este trabajo es medir y describir cómo evolucionó la rentabilidad del sector agropecuario uruguayo, en el marco de la teorı́a de la firma, considerando los antecedentes internacionales y locales en lo referido al desempeño del rubro. Esta teorı́a ha dado cuenta históricamente de la multiplicidad de factores que actúan como determinantes del desempeño empresarial. Sin embargo los resultados empı́ricos obtenidos han sido dispares para la empresas en general y particularmente escasos para las empresas gropecuarias, dependiendo en muchos casos del giro de la empresa y la región. La base de datos del pre sente trabajo está constituida por las empresas agropecuarias uruguayas que constituyen sujetos pasivos del Impuesto al Patrimonio Rural y al Impuesto a la Renta de Actividades Económicas y presentaron sus Estados Contables anuales ante la Dirección General Impositiva (DGI) en el perı́odo Julio de 2009 a Junio de 2017, comprendiendo 8 ejercicios. La dimensión tamaño de estas empresas es incluida en el estudio a través de las variables representativas de su volumen de producción y ventas, su nivel de activos y la cantidad de personal empleado. La dimensión del desempeño económico financiero de las compañı́as se mide a través del indicador ROA (Return On Assets). Para identificar patrones de evolución de la rentabilidad, se utilizaron los clústers longitudinales como estrategia me- todológica. Los resultados del estudio muestran tres grupos de empresas con trayectorias de ROA similares a la interna pero muy distintas entre sı́, lo cual sirvió de insumo para caracterizar su estructura económica, obtener indicios acerca de los determinantes del desempeño económico financiero y observar su evolución en el perı́odo analizado. |
| Date: | 2022–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:p8zk9&r=acc |