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What is Accounting Estimates

Chapter 5
Sustainability Reporting, Ethics, and Strategic Management Strategies for Modern Organizations
Are often made under uncertainty in terms of determining their value as it involves the use of judgment. As a result, the risk of material misstatement is greater when these estimates are involved and in some cases the auditor may determine that the risk of material misstatement is greater and it requires special attention in the audit.
Published in Chapter:
Convergence and Divergence Regarding Business Combinations
Alin Eliodor Tănase (Titu Maiorescu University, Romania), Traian Ovidiu Calotă (Titu Maiorescu University, Romania), and Gabriela Claudia Oncioiu (Titu Maiorescu University, Romania)
Copyright: © 2021 |Pages: 14
DOI: 10.4018/978-1-7998-4637-6.ch005
Abstract
The presence of several legal entities within the same group entails the existence of as many independent accountants as there are companies. In accordance with IFRS 3 “business combinations,” the result is goodwill that will be recognized as a non-current intangible asset in the consolidated balance sheet, being subjected annually to the impairment test; insofar as the investment cost is lower than the acquisition cost of the net assets, the negative goodwill will be obtained which will be recognized in the form a profit in the consolidated profit and loss account. In addition, national differences in accounting, taxation, and auditing are the sources of the various problems that arise in the process of controlling subsidiaries and consolidating accounts. This chapter aims to study the convergence and divergence regarding business combinations in the joint business as well as to analyze the managerial controversies that are presented in the conversion of the financial statements.
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Chapter 12
Joint Enterprise and Financial Position Consolidated at the Date of Acquisition
Are often made under uncertainty in terms of determining their value as it involves the use of judgment. As a result, the risk of material misstatement is greater when these estimates are involved and in some cases the auditor may determine that the risk of material misstatement is greater, and it requires special attention in the audit.
Published in Chapter: Joint Enterprise and Financial Position Consolidated at the Date of Acquisition; From: Throughput Accounting in a Hyperconnected World
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Chapter 8
Fraud Risk Management for Listed Companies' Financial Reporting
Often made under uncertainty in terms of determining their value as it involves the use of judgment. As a result, the risk of material misstatement is greater when these estimates are involved and in some cases the auditor may determine that the risk of material misstatement is greater, and it requires special attention in the audit.
Published in Chapter: Fraud Risk Management for Listed Companies' Financial Reporting; From: Network Security and Its Impact on Business Strategy
Full Text Chapter Download: US $37.50 Add to Cart
Chapter 10
The Decision Process Based on the Accounting Information System
Are often made under uncertainty in terms of determining their value as it involves the use of judgment. As a result, the risk of material misstatement is greater when these estimates are involved and in some cases the auditor may determine that the risk of material misstatement is greater, and it requires special attention in the audit.
Published in Chapter: The Decision Process Based on the Accounting Information System; From: Throughput Accounting in a Hyperconnected World
Full Text Chapter Download: US $37.50 Add to Cart
Chapter 12
Important Managerial Controversies in Conversion of Financial Statements
Are often made under uncertainty in terms of determining their value as it involves the use of judgment. As a result, the risk of material misstatement is greater when these estimates are involved and in some cases the auditor may determine that the risk of material misstatement is greater, and it requires special attention in the audit.
Published in Chapter: Important Managerial Controversies in Conversion of Financial Statements; From: Management Accounting Standards for Sustainable Business Practices
Full Text Chapter Download: US $37.50 Add to Cart
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