Revista de Contabilidad - Spanish Accounting Review 2021, V. 24, N. 1
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- PublicationOpen AccessDeterminantes del periodo medio de pago municipal y eficacia del principio de sostenibilidad de la deuda comercial(Universidad de Murcia, Servicio de Publicaciones, 2021) Olmo, Jorge; Brusca, IsabelLas medidas implantadas para mejorar la liquidez de los municipios españoles y el principio de sostenibilidad de la deuda comercial ponen de manifiesto la importancia de controlar la morosidad pública. En este contexto, este trabajo comprueba el efecto de la regla fiscal que controla los plazos de pago y si el entorno político, socioeconómico y presupuestario incide en el periodo de pago de los ayuntamientos españoles. Para ello, se realiza un análisis exploratorio y se aplica la metodología de datos de panel (2009-2015). Los resultados contribuyen a demostrar la eficacia del control del periodo de pago y evidenciar los factores de riesgo en la situación financiera a corto plazo
- PublicationOpen AccessA New Cost Management System for Construction Projects to increase Competitiveness and Traceability in a Project Environment(Universidad de Murcia, Servicio de Publicaciones, 2021) Toosi, Hossein; Chamikarpour, ArezouThis research proposed a new method for project cost management based on Competitiveness and traceability in a case study and operational situation. The research hypothesis is based on the synergistic ability of performance focused activity based costing in combination of the target costing method for encouraging competitiveness cost control system for project environments. The method was developed to control, direct and overhead costs of the project during its progress. Also, it uses the feature of activity-driven and different resource drivers to determine the types of costs with the effect of time driver for each activity. An interview was conducted with financial managers during two to four times with the aim of validating and modifying the method. According to a semi-structured interview, the proposed method contributed to increase the precision, certainty, traceability of costs and provided the integrity of the accounting, technical and operational system. It also analyzes deviations and reduces costs by considering competitive and strategic conditions. It´s also limiting the target cost of work packages and causing an alarm on the completion of each. According to Friedman test, there is a meaningful competitive ability compared to the conventional cost control method in the projects and it is also implemented in a case study
- PublicationOpen AccessAn international comparison of incentives for earnings management in order to meet analysts forecasts(Universidad de Murcia, Servicio de Publicaciones, 2021) Callao Gastón, Susana; Jarne Jarne, José IgnacioPrevious investigations have shown that when earnings meet analysts forecasts, the market reacts positively, and when these forecasts are not reached, the market reacts negatively. For this reason, forecasts become goals to beat, and as the literature has revealed, this creates an incentive for earnings management. The present paper extends prior research, providing evidence that the magnitude of the reward (penalty) for companies meeting (failing to meet) earnings forecasts differs depending on the market. In addition, it reveals that the strength of the incentive for companies to manage their earnings differs depending on the market in which they are listed. We compare six stock markets and find that the most powerful incentives arise when the reward for meeting the forecasts or the penalty for not doing so is greater
- PublicationOpen AccessReadabilty in management reports: extension and good governance practices(Universidad de Murcia, Servicio de Publicaciones, 2021) Melón-Izco, Álvaro; Ruiz-Cabestre, Francisco J.; Ruiz-Olalla, CarmenThis study expands our knowledge about the readability of accounting narratives, their extension and companies compliance with good governance practices. It also covers a gap in the analysis of the readability of narrative information written in Spanish. We examined the readability in Management Reports of Spanish companies listed on the Continuous Market of the Madrid Stock Exchange during the period 20102016. The results reveal that the most extensive management reports that is, those with the greatest quantities of text are the least readable and that the use of visual elements in reports helps to improve their readability. Moreover, companies that follow good governance practices issue complex information with clarity, speed, and simplicity, which improves the readability of accounting narratives
- PublicationOpen AccessRisk on financial reporting in the context of the new audit report in Spain(Universidad de Murcia, Servicio de Publicaciones, 2021) Pérez Pérez, Yolanda; Camacho Miñano, María del Mar; Segovia-Vargas, María JesúsAfter the financial crisis and with the greater complexity of financial reporting, stakeholders asked firms for more informative audit reports to close the audit expectation gap. In this context, the International Auditing and Assurance Standards Board (IAASB) approved a new international standard on auditors reports. One of the major changes is the obligation for listed companies to describe the key audit matters (KAM) in the audit report, in particular, those related to the significant financial reporting risks. This paper empirically analyses the content of the new auditors reports after the accounting reform recently issued in Spain and the factors that condition the KAMs disclosed by auditors. Using the sample of all Spanish listed companies, our results show that these firms mostly report on two to four KAMs and the majority of these relate to revenue recognition, impairment of goodwill and deferred tax recovery in the 2017 audit reports. Applying a multinomial linear regression, the significant variables that condition the KAMs in our sample are sector, market type, and average word count. This evidence contributes to the literature by emphasizing the importance of risks in financial reporting in extended audit reports