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Harmonization Of Goodwill Reporting Practice In The Consolidated Financial Statements Of Romanian Groups

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Author Info

  • Carmen-Alexandra Baltariu

    (‘Babes-Bolyai‘ University Of Cluj-Napoca Romania)

  • Andreea Cirstea

    (‘Babes-Bolyai‘ University Of Cluj-Napoca Romania)

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    Abstract

    The purpose of this paper is to analyze the current state of consolidated reporting practiceharmonization concerning the extant methods for evaluating and reporting goodwill in the consolidatedfinancial statements of Romanian groups. In order to attain our purpose we selected financial and non-financial Romanian groups that were listed in the Bucharest Stock Exchange and we analyzed, first in aqualitative manner, for a period of five years starting 2007, the notes to their consolidated financial statementswith the design to establish exactly which of the methods stated in the International Financial ReportingStandards were being used for evaluating and reporting goodwill. The quantitative analysis, based on whichcertain conclusions about the current state of material harmonization concerning the practice of evaluatingand reporting goodwill could be extracted, was performed by using the Herfindahl Index. The results obtainedby calculating the Herfindahl Index indicate that throughout the entire period taken into account the value ofthe Index is constant and equal to 1, meaning that with respect to goodwill reporting practice, the groupsconsidered make use of the same method, the purchase goodwill approach. Based on the results, ourconclusion is that from the point of view of goodwill reporting practice, the groups analyzed are fullyharmonized.

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    Bibliographic Info

    Article provided by Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia in its journal Annales Universitatis Apulensis Series Oeconomica.

    Volume (Year): 2 (2012)
    Issue (Month): 14 ()
    Pages: 1

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    Handle: RePEc:alu:journl:v:2:y:2012:i:14:p:1

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    Related research

    Keywords: material accounting harmonization; consolidated financial statements; IFRSs; goodwill reporting practice;

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    1. Ojo, Marianne, 2010. "The role of the IASB and auditing standards in the aftermath of the 2008/2009 Financial Crisis," MPRA Paper 20330, University Library of Munich, Germany.
    2. Jens Wüstemann & Sonja Wüstemann, 2010. "Why Consistency of Accounting Standards Matters: A Contribution to the Rules-Versus-Principles Debate in Financial Reporting," Abacus, Accounting Foundation, University of Sydney, vol. 46(1), pages 1-27.
    3. Peter Standish, 2003. "Evaluating National Capacity for Direct Participation in International Accounting Harmonization: France as a Test Case," Abacus, Accounting Foundation, University of Sydney, vol. 39(2), pages 186-210.
    4. Ding, Yuan & Hervé, Stolowy & Hope, Ole-Kristian & Jeanjean, Thomas, 2005. "Differences between domestic accounting standards and IAS: measurement, determinants and implications," Les Cahiers de Recherche 826, HEC Paris.
    5. Qu, Xiaohui & Zhang, Guohua, 2010. "Measuring the convergence of national accounting standards with international financial reporting standards: The application of fuzzy clustering analysis," The International Journal of Accounting, Elsevier, vol. 45(3), pages 334-355, September.
    6. Tiron Tudor Adriana, 2010. "Disclosure Practices Concerning Consolidated Financial Statemens Of Romanians Groups Of Entites," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 601-606, July.
    7. Leandro Canibano & Araceli Mora, 2000. "Evaluating the statistical significance of de facto accounting harmonization: a study of European global players," European Accounting Review, Taylor & Francis Journals, vol. 9(3), pages 349-369.
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