Search results for "ACCOUNTING"
showing 10 items of 1961 documents
Use of Movies in an accounting class as a teaching technique to promote learning about financial reporting and ethical issues
2021
[EN] This study presents an innovative experience using movies in an accounting class. The learning experience was found interesting and useful for the learning process in three groups in University XXX. The students voluntarily watched three movies and answered a test for each one, containing questions about the ethical and accounting concepts in the film, as well as their satisfaction with the methodology. Non-parametric tests have been computed to assess if those students that watch a movie obtain a higher exam mark as compared to those that do not follow the methodology, as well as for the other accounting and ethical questions. Our results show that there is a particular film that evid…
Harmonization of Insurance Supervisory Law
2015
This chapter addresses the fundamental issue of what degree of harmonization applies in the Solvency II system. Distinguishing among the several degrees of harmonization—minimum harmonization, maximum harmonization, and full harmonization—leads to the conclusion that the Solvency II Directive has full harmonization as its objective. This has two important ramifications: First, the Solvency II Directive requires that any insurance supervisory regime implementation by the respective national legislators must completely align with the European insurance supervisory regime. Second, a system of full harmonization prohibits national legislators from unilaterally enacting additional measures not p…
Understanding the Consequences of Accounting Standards in Europe: The Role of EFRAG
2012
The global financial crisis has accelerated the need for standard-setters to demonstrate that they understand the effects of the accounting standards they are setting. Within a European context, the endorsement process and the ultimate adoption of new and amended International Financial Reporting Standards into European Union law demand that there is evidence to support the assertion that such standards will improve financial reporting. Our analysis is anchored in the ideology theory of regulation which provides a compelling case for effect analysis to underpin the standard-setting process. For that process to work effectively, a number of key actors need to engage in the process. According…
Building European‐level Quality Assurance Structures: Views from Within ENQA
2009
Abstract The current article discusses the changes in the role of the European Association for Quality Assurance in Higher Education (ENQA) in the Bologna Process, mainly from the ENQA point of view. This paper argues that ENQA’s development to its current status as a European‐level policy maker is to a great extent a result of the European Union’s policy of supporting European‐level cooperation and transparency in the field of quality assurance. ENQA was not the only contestant for the role it now has in European quality assurance. The European University Association (EUA) had long‐term experience in quality assurance and also had its own interests in the field of quality assurance. The te…
Determinants of Chairman Compensation
2011
This study examines determinants of chairman compensation in a supervisory board setting and, specifically, the relationship between chairman and CEO compensation. Using a sample of publicly listed firms in Sweden, the study indicates that chairman compensation – despite its fixed nature – is reflective of firm performance via a positive relationship to CEO compensation. As CEO compensation is set before chairman compensation, we argue that the chairman may be inclined to conspire with the CEO in earnings management efforts at the expense of monitoring on behalf of investors. Supporting our argument, we find evidence that the gap between chairman and CEO compensation is less at firms where …
Thermodynamic-based cost allocation in low-temperature thermal grids in presence of distributed energy producers
2022
Thermal grids are well-established technologies that can cover the thermal demands of buildings in a more sustainable way. The lower operating temperature will allow not only for the integration of heat produced by thermal renewable energy sources but also for the storage of surplus electricity from the grid using power to heat technologies. To ensure a wider diffusion of this technology, it is important to propose a method for the cost allocation among producers connected to the grid. In this regard, this paper proposes Exergoeconomics as a possible solution. To show the capabilities of the method, some operating scenarios are compared for a cluster of five buildings in the tertiary sector…
On thermoeconomics of energy systems at variable load conditions: integrated optimization of plant design and operation
2007
Abstract Thermoeconomics has been assuming a growing role among the disciplines oriented to the analysis of energy systems, its different methodologies allowing solution of problems in the fields of cost accounting, plant design optimisation and diagnostic of malfunctions. However, the thermoeconomic methodologies as such are particularly appropriate to analyse large industrial systems at steady or quasi-steady operation, but they can be hardly applied to small to medium scale units operating in unsteady conditions to cover a variable energy demand. In this paper, the fundamentals of thermoeconomics for systems operated at variable load are discussed, examining the cost formation process an…
Exergy analysis and thermoeconomic cost accounting of a Combined Heat and Power steam cycle integrated with a Multi Effect Distillation-Thermal Vapou…
2017
Abstract In this paper an exergy analysis and thermoeconomic cost accounting of a Combined Heat and Power steam cycle integrated with Multi Effect Distillation-Thermal Vapour Compression plant is performed; the goal of the study is to show how these methodologies provide a rational criterion to allocate production costs on electricity and freshwater in such a dual purpose system. After a brief overview on the methodology and a description of reference plant, exergy analysis is carried out to calculate exergy flows and exergy efficiencies at component level. A detailed description of the adopted thermoeconomic model is given. In a first scenario, cost accounting is performed assuming that th…
Thermodynamic, Exergy, and Thermoeconomic analysis of Multiple Effect Distillation Processes
2018
Abstract Multiple effect distillation (MED) is nowadays the preferred technology for the construction of new plants based on thermal processes in the growing desalination market. MED technology, in fact, presents a number of advantages with respect to the more traditional multistage flash technology, among all the lower energy consumption achievable in MED plants. However, a large potential for improvement in terms of lowering production costs still exists, which stimulates further efforts on process optimization from companies and researchers involved in the field. Thermodynamic and exergy analysis provides useful insights regarding the identification of main inefficiencies and the margins…
Trading with Asymmetric Volatility Spillovers
2007
: We study the profitability of trading strategies based on volatility spillovers between large and small firms. By using the Volatility Impulse-Response Function of Lin (1997) and its extensions, we detect that any volatility shock coming from small companies is important to large companies, but the reverse is only true for negative shocks coming from large firms. To exploit these asymmetric patterns in volatility, different trading rules are designed based on the inverse relationship existing between expected return and volatility. We find that most strategies generate excess after-transaction cost profits, especially after very bad news and very good news coming from large or small firm…