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AN EMPIRICAL RESEARCH FOR THE DETERMINATION OF VARIABLES WHICH AFFECT THE EXPLANATION LEVEL OF ACCOUNTING AND REPORTING STANDARDS
(AN EMPIRICAL RESEARCH FOR THE DETERMINATION OF VARIABLES WHICH AFFECT THE EXPLANATION LEVEL OF ACCOUNTING AND REPORTING STANDARDS )

Yazar : Sedat ÇOŞKUN  & Mahmut YARDIMCIOĞLU  
Türü :
Baskı Yılı : 2017
Sayı : 6
Sayfa : 294-304
503    477


Özet

The extraordinary changes in technology nowadays have also influenced change in individuals’ consumption habits. Consequently, many changes have occurred in economic life and multinational investments have increased. Consequently, while businesses who continued their activities in commercial life have steered their investments towards new business areas needed to sustain their existence, they had to move towards capital diversification and form new partnerships. On the other hand, it is clear that capital is the basic requirement for businesses to sustain their existence.  Even though businesses use their own resources to meet their capital needs, they require international capital for the continuation of their activities. In this sense, not only businesses, but also countries do need multinational investments to realize their economic goals and increase their levels of prosperity. As capital owners move their fund resources to investment areas it is unarguable that they consider different criteria. The most fundamental reference information among these is the financial information on a business. It is mandatory that the financial information required for investment has to be primarily composed of qualitative accounting information. The formation of qualitative accounting information is possible with accounting and financial reporting standard prepared with universal qualification. On the other hand, the explanation level of the information, required to be explained as prescribed by a business’ accounting and reporting standard, for the financial information users is very crucial. This information are explained by businesses in the footnotes of financial tables. An “explanation index” has been created in many studies in the literature to determine the footnote explanation level of a business. The objective of this study is the determination of variables which affect the explanation levels related to the presentation of information prescribed in the accounting and reporting standards of the sectors within the scope of the research. An “explanation index” has been created within this framework to determine the level of information required to be explained in the standards. This index has been accepted to be the dependent variable in the study and the relationship with the independent variables such as the age of business, size of business, active size of business, 4 large auditors, change of auditing firm and change of chief auditor, has been tested using the panel data regression analysis method. As a result of the study, the change in auditing firm and the change in the chief auditor have been observed to have a higher effect on the “explanation index” in comparison to the other variables



Anahtar Kelimeler
Accounting Standards, Accounting Policies, Footnotes, Explanation Index, Panel Data

Abstract

The extraordinary changes in technology nowadays have also influenced change in individuals’ consumption habits. Consequently, many changes have occurred in economic life and multinational investments have increased. Consequently, while businesses who continued their activities in commercial life have steered their investments towards new business areas needed to sustain their existence, they had to move towards capital diversification and form new partnerships. On the other hand, it is clear that capital is the basic requirement for businesses to sustain their existence.  Even though businesses use their own resources to meet their capital needs, they require international capital for the continuation of their activities. In this sense, not only businesses, but also countries do need multinational investments to realize their economic goals and increase their levels of prosperity. As capital owners move their fund resources to investment areas it is unarguable that they consider different criteria. The most fundamental reference information among these is the financial information on a business. It is mandatory that the financial information required for investment has to be primarily composed of qualitative accounting information. The formation of qualitative accounting information is possible with accounting and financial reporting standard prepared with universal qualification. On the other hand, the explanation level of the information, required to be explained as prescribed by a business’ accounting and reporting standard, for the financial information users is very crucial. This information are explained by businesses in the footnotes of financial tables. An “explanation index” has been created in many studies in the literature to determine the footnote explanation level of a business. The objective of this study is the determination of variables which affect the explanation levels related to the presentation of information prescribed in the accounting and reporting standards of the sectors within the scope of the research. An “explanation index” has been created within this framework to determine the level of information required to be explained in the standards. This index has been accepted to be the dependent variable in the study and the relationship with the independent variables such as the age of business, size of business, active size of business, 4 large auditors, change of auditing firm and change of chief auditor, has been tested using the panel data regression analysis method. As a result of the study, the change in auditing firm and the change in the chief auditor have been observed to have a higher effect on the “explanation index” in comparison to the other variables



Keywords
Accounting Standards, Accounting Policies, Footnotes, Explanation Index, Panel Data

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