The EU's adoption of IFRS, combined with the SEC's removal of the US GAAP reconciliation requirement for non-US registrants reporting under IFRS, signifies a major shift towards the acceptance of global standards. Based on 20-F reconciliations provided by the population of US listed European companies filing IFRS-based statements with the SEC in 2005, we examine whether 'European' and US GAAP measures of income and equity converged under IFRS. We find that during the period immediately preceding IFRS, for our sample companies, European and US GAAP measures are generally comparable in respect of income and equity. However, as an exception to the latter, we find that UK GAAP yielded significantly lower measures of equity than US GAAP For companies adopting IFRS for the first time in 2005,...
... impairment testing, intangible assets, foreign currency translation, share-based payments, financ...
M2 EQUITYBITES-July 22, 2011-Sensient Technologies Corporation's earnings per share and revenues (C)1994-2011 M2 COMMUNICATIONS http://www.m2.com
...The company added that foreign currency translation increased revenue and operati...
The extent to which the accounts of companies are comparable is considered important to users and regulators. However, prior research has been restricted by a lack of appropriate statistical methods for testing comparability indices. This has made it difficult to assess the true level of comparability from sample data and to test research hypotheses such as whether the level of comparability (a) differs by policy, (b) differs by country, and (c) changes over time. This paper fills this gap by exploring the statistical properties of the T index. The T index generalises the H, C, I and various modifications of these indices and represents a unified framework for the measurement of the extent to which the accounts of companies are comparable. Formulae for the bias and standard error for an...
...The evidence for measurement practice 7 (Foreign currency translation of assets and liabilities) ha...
EQUITYBITES-(C)2010 M2 COMMUNICATIONS Scientific Games Corporation (Nasdaq:SGMS) has completed the sale of its racing and venue management businesses, Scientific Games Racing, to Sportech Plc (LSE: SPO.l).
... related to reclassifying the Accumulated Foreign Currency Translation Adjustment from Accumulated O...
M2 EQUITYBITES-April 19, 2012- (C)1994-2012 M2 COMMUNICATIONS http://www.m2.com
... sales for the quarter grew 7%, prior to foreign currency translation, including 28% in China, 8% a...
M2 EQUITYBITES-March 3, 2011 (C)1994-2011 M2 COMMUNICATIONS http://www.m2.com
... raw material costs, partially offset by foreign currency translation (1%). ((Comments on this stor...
EQUITYBITES-(C)2011 M2 COMMUNICATIONS Adhesives provider HB Fuller Company (NYSE:FUL) stated on Wednesday its net income of USD14.4m (USD0.29 per diluted share) for the first quarter ended 26 February 2011.
...Foreign currency translation reduced net revenue growth by...
M2 EQUITYBITES-October 21, 2011- (C)1994-2011 M2 COMMUNICATIONS http://www.m2.com
...Foreign currency translation increased both revenue and op...
M2 EQUITYBITES-July 20, 2011- (C)1994-2011 M2 COMMUNICATIONS http://www.m2.com
... raw material costs and USD119m from foreign currency translation. ((Comments on this story may...
M2 EQUITYBITES-April 19, 2011-Crane Co reports 45% increase of diluted earnings per share in Q1 (C)1994-2011 M2 COMMUNICATIONS http://www.m2.com
... of divestitures of USD16m (3%) and good foreign currency translation of USD7m (1%). ((Comments on ...
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