• Title/Summary/Keyword: Non-Reporting

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The Impact of K-IFRS Adoption on Accounting Conservatism: Focus on Distribution Companies (한국채택국제회계기준(K-IFRS)의 도입이 보수주의에 미치는 영향: 유통기업들을 중심으로 (초기 일시적 적응 현상))

  • Noh, Gil-Kwan;Kim, Dong-Il
    • Journal of Distribution Science
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    • v.13 no.9
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    • pp.95-101
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    • 2015
  • Purpose - This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is characterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test "the temporary adjustment phenomenon" and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology - Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypotheses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to capture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results - Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the "temporary adjustment phenomenon" is the reason that we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

Is Hiding Foot and Mouth Disease Sensitive Behavior for Farmers? A Survey Study in Sri Lanka

  • Gunarathne, Anoma;Kubota, Satoko;Kumarawadu, Pradeep;Karunagoda, Kamal;Kono, Hiroichi
    • Asian-Australasian Journal of Animal Sciences
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    • v.29 no.2
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    • pp.280-287
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    • 2016
  • Foot and mouth disease (FMD) has a long history in Sri Lanka and was found to be endemic in various parts of the country and constitutes a constant threat to farmers. In Sri Lanka, currently there is no regular, nationwide vaccination programme devised to control FMD. Therefore, improving farmers' knowledge regarding distinguishing FMD from other diseases and ensuring prompt reporting of any suspicion of FMD as well as restricting movement of animals are critical activities for an effective FMD response effort. Therefore, the main purpose of this study was to clarify the relationship between farmers' knowledge levels and their behaviors to establish a strategy to control FMD. In our study, item count technique was applied to estimate the number of farmers that under-report and sell FMD-infected animals, although to do so is prohibited by law. The following findings were observed: about 63% of farmers have very poor knowledge of routes of FMD transmission; 'under-reporting' was found to be a sensitive behavior and nearly 23% of the farmers were reluctant to report FMD-infected animals; and 'selling FMD-infected animals' is a sensitive behavior among high-level knowledge group while it is a non-sensitive behavior among the low-level knowledge group. If farmers would understand the importance of prompt reporting, they may report any suspected cases of FMD to veterinary officials. However, even if farmers report honestly, they do not want to cull FMD-infected animals. Thus, education programs should be conducted not only on FMD introduction and transmission, but also its impact. Furthermore, consumers may criticize the farmers for culling their infected animals. Hence, not only farmers, but also consumers need to be educated on the economic impact of FMD and the importance of controlling an outbreak. If farmers have a high knowledge of FMD transmission, they consider selling FMD-infected animals as a sensitive behavior. Therefore, severe punishment should be levied for selling FMD-infected animals.

Validity of Self-reported Hypertension and Factors Related to Discordance Between Self-reported and Objectively Measured Hypertension: Evidence From a Cohort Study in Iran

  • Najafi, Farid;Pasdar, Yahya;Shakiba, Ebrahim;Hamzeh, Behrooz;Darbandi, Mitra;Moradinazar, Mehdi;Navabi, Jafar;Anvari, Bita;Saidi, Mohammad Reza;Bazargan-Hejazi, Shahrzad
    • Journal of Preventive Medicine and Public Health
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    • v.52 no.2
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    • pp.131-139
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    • 2019
  • Objectives: Self-reporting can be used to determine the incidence and prevalence of hypertension (HTN). The present study was conducted to determine the validity of self-reported HTN and to identify factors affecting discordance between self-reported and objectively measured HTN in participants in the Ravansar Non-Communicable Diseases (RaNCD) cohort. Methods: The RaNCD cohort included permanent residents of Ravansar, Iran aged 35-65 years. Self-reported data were collected before clinical examinations were conducted by well-trained staff members. The gold standard for HTN was anti-hypertensive medication use and blood pressure measurements. The sensitivity, specificity, positive and negative predictive values, and overall accuracy of self-reporting were calculated. Univariate and multivariate logistic regression were used to examine the discordance between self-reported HTN and the gold standard. Results: Of the 10 065 participants in the RaNCD, 4755 (47.4%) were male. The prevalence of HTN was 16.8% based on self-reporting and 15.7% based on medical history and HTN measurements. Of the participants with HTN, 297 (18.8%) had no knowledge of their disease, and 313 (19.9%) had not properly controlled their HTN despite receiving treatment. The sensitivity, specificity, and kappa for self-reported HTN were 75.5%, 96.4%, and 73.4%, respectively. False positives became more likely with age, body mass index (BMI), low socioeconomic status, and female sex, whereas false negatives became more likely with age, BMI, high socioeconomic status, smoking, and urban residency. Conclusions: The sensitivity and specificity of self-reported HTN were acceptable, suggesting that this method can be used for public health initiatives in the absence of countrywide HTN control and detection programs.

MRI Findings of Triple Negative Breast Cancer: A Comparison with Non-Triple Negative Breast Cancer (삼중음성 유방암의 자기공명영상 소견: 비삼중음성 유방암과의 비교)

  • Choi, Jae-Jeong;Kim, Sung-Hun;Cha, Eun-Suk;Kang, Bong-Joo;Lee, Ji-Hye;Lee, So-Yeon;Jeong, Seung-Hee;Yim, Hyeon-Woo;Song, Byung-Joo
    • Investigative Magnetic Resonance Imaging
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    • v.14 no.2
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    • pp.95-102
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    • 2010
  • Purpose : To evaluate the magnetic resonance imaging (MRI) and clinicopathological features of triple negative breast cancer, and compare them with those of non-triple negative breast cancer. Materials and Methods : This study included 231 pathologically confirmed breast cancers from January 2007 to May 2008. We retrospectively reviewed the MRI findings according to the Breast Imaging Reporting and Data System (BI-RADS) lexicon: mass or non-mass type, mass shape, mass margin, non-mass distribution, and enhancement pattern. Histologic type, histologic grade, and the results for epidermal growth factor receptor, p53, and Ki 67 were reviewed. Results : Of 231 patients, 43(18.6%) were triple negative breast cancer. Forty triple negative breast cancers (93.0%) were mass-type lesion on MRI. A round or oval or lobular shape (p=0.006) and rim enhancement (p=0.004) were significantly more in triple negative breast cancer than non- triple negative breast cancer. In contrast, irregular shape (p=0.006) and spiculated margins (p=0.032) were significantly more in non-triple negative breast cancer. Old age (p=0.019), high histologic grade (p<0.0001), EGFR positivity (p<0.0001), p53 overexpression (p=0.038), and Ki 67 expression (<0.0001) were significantly associated with the triple negative breast cancer. Conclusion : MRI finding may be helpful for differentiation between triple negative and non-triple negative breast cancer.

Privilege and Immunity of Information and Data from Aviation Safety Program in Unites States (미국 항공안전데이터 프로그램의 비공개 특권과 제재 면제에 관한 연구)

  • Moon, Joon-Jo
    • The Korean Journal of Air & Space Law and Policy
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    • v.23 no.2
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    • pp.137-172
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    • 2008
  • The earliest safety data programs, the FDR and CVR, were electronic reporting systems that generate data "automatically." The FDR program, originally instituted in 1958, had no publicly available restrictions for protections against sanctions by the FAA or an airline, although there are agreements and union contracts forbidding the use of FDR data for FAA enforcement actions. This FDR program still has the least formalized protections. With the advent of the CVR program in 1966, the precursor to the current FAR 91.25 was already in place, having been promulgated in 1964. It stated that the FAA would not use CVR data for enforcement actions. In 1982, Congress began restricting the disclosure of the CVR tape and transcripts. Congress added further clarification of the availability of discovery in civil litigation in 1994. Thus, the CVR data have more definitive protections in place than do FDR data. The ASRS was the first non-automatic reporting system; and built into its original design in 1975 was a promise of limited protection from enforcement sanctions. That promise was further codified in an FAR in 1979. As with the CVR, from its inception, the ASRS had some protections built in for the person who might have had a safety problem. However, the program did not (and to this day does not) explicitly deal with issues of use by airlines, litigants, or the public media, although it appears that airlines will either take a non-punitive stance if an ASRS report is filed, or the airline may ignore the fact that it has been filed at all. The FAA worked with several U.S. airlines in the early 1990s on developing ASAP programs, and the FAA issued an Advisory Circular about the program in 1997. From its inception, the ASAP program contained some FAA enforcement protections and company discipline protections, although some protection against litigation disclosure and public disclosure was not added until 2003, when FAA Order 8000.82 was promulgated, placing the program under the protections of FAR 193, which had been added in 2001. The FOQA program, when it was first instituted through a demonstration program in 1995, did not contain protections against sanctions. Now, however, the FAA cannot take enforcement action based on FOQA safety data, and an airline is limited to "corrective action" under the program. Union contracts can exclude FOQA from the realm of disciplinary action, although airline practice may be for airlines to require retraining if there is no contract in place forbidding it. The data is protected against disclosure for litigation and public media purposes by FAA Order 8000.81, issued in 2003, which placed FOQA under the protections of FAR 193. The figure on the next page shows when each program began, and when each statute, regulation, or order became effective for that program.

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A Study on Accrual Earnings Management of Shipping Companies (해운사의 발생액 이익조정에 관한 연구)

  • Hong, Soon-Wook
    • Journal of Navigation and Port Research
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    • v.45 no.3
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    • pp.173-180
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    • 2021
  • Although accounting is one of the core fields of corporate management, few studies have reported accounting phenomena involving shipping companies. In addition, although financial reporting is very important to shipping companies that use several financial tools such as ship finance and financial lease, it is difficult to identify studies investigating shipping companies' financial reporting, especially their earnings management. The purpose of this study is to analyze accrual earnings management behavior of shipping companies. Companies with high debt ratios and net losses are known to have incentives for earnings management. Due to the nature of the industry, shipping companies have a high debt ratio and often report net losses. Accordingly, shipping companies are expected to engage in substantial earnings management. Based on the analysis of KOSP I companies listed on the Korea Exchange from 2001 to 2020, it was found that shipping companies are engaged in higher levels of earnings management than non-shipping companies. Discretionary accrual was used as a proxy variable for earnings management. Discretionary accrual was measured using the modified Jones model of Dechow et al. (1995) and the performance matched model of Kothari et al.(2005). In this study, significant results were derived by comparatively analyzing the earnings management practices, which is one of the major accounting behaviors of shipping and non-shipping companies. Stakeholders such as external auditors, investors, financial institutions, analysts, and government authorities need to be aware of the earnings management behavior of listed shipping companies during their external audit, financial analysis, and supervision. Finally, listed shipping companies must conduct stricter accounting based on accounting principles.

The Earnings Quality and Firm Characteristics - KOSDAQ (기업특성에 따른 회계이익의 질 - 코스닥기업 대상)

  • Moon, Hyun-Ju
    • Korean small business review
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    • v.42 no.4
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    • pp.123-146
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    • 2020
  • This study, targeting KOSDAQ-listed companies, examined the relationship between variability of accruals and corporate characteristics. First, the analysis results show that executives of companies with high debt ratios are more likely to violate debt contracts, so there is a strong temptation to use discretionary accrual items. Second, for companies with large volatility in operating cash flows, Executives of these companies are strongly inclined to utilize accruals for the purpose of abuse of discretion. Third, the larger the company, the more sensitive it is to political costs, so it is less tempted to use the accruals item than a smaller company. Fourth, the corporate age is thought to be the maturity of the company, Executives of such companies have little room to use accruals to abuse their discretion. Fifth, in the case of profit dummy variables, the companies reporting losses have more temporary accrual items than those reporting profits, so this increases the uncertainty in their accounting information than the latter. Sixth, for those companies that are indicated as inappropriate as a result of audit, the more likely their executives are to use the accrual items, and the lower the quality of their accounting profits is. Lastly, Companies audited by 4 Big domestic accounting firms have less discretionary accrual fluctuations than companies audited by non-big 4 accounting firms. Thus, it was found that the accrual amount allows the discretion of corporate executives differently according to the characteristics of the company.

Scoring System to Predict Malignancy for MRI-Detected Lesions in Breast Cancer Patients: Diagnostic Performance and Effect on Second-Look Ultrasonography (유방암 환자의 MRI에서 발견된 병변의 악성 예측을 위한 점수체계: 진단적 능력과 이차 초음파 결정에 미치는 영향)

  • Young Geol Kwon;Ah Young Park
    • Journal of the Korean Society of Radiology
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    • v.81 no.2
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    • pp.379-394
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    • 2020
  • Purpose To design a scoring system to predict malignancy of additional MRI-detected lesions in breast cancer patients. Materials and Methods Eighty-six lesions (64 benign and 22 malignant) detected on preoperative MRI of 68 breast cancer patients were retrospectively included. The clinico-radiologic features were correlated with the histopathologic results using the Student's t-test, Fisher's exact test, and logistic regression analysis. The scoring system was designed based on the significant predictive features of malignancy, and its diagnostic performance was compared with that of the Breast Imaging-Reporting and Data System (BI-RADS) category. Results Lesion size ≥ 8 mm (p < 0.001), location in the same quadrant as the primary cancer (p = 0.005), delayed plateau kinetics (p = 0.010), T2 isointense (p = 0.034) and hypointense (p = 0.024) signals, and irregular mass shape (p = 0.028) were associated with malignancy. In comparison with the BI-RADS category, the scoring system based on these features with suspicious non-mass internal enhancement increased the diagnostic performance (area under the receiver operating characteristic curve: 0.918 vs. 0.727) and detected three false-negative cases. With this scoring system, 22 second-look ultrasound examinations (22/66, 33.3%) could have been avoided. Conclusion The scoring system based on the lesion size, location relative to the primary cancer, delayed kinetic features, T2 signal intensity, mass shape, and non-mass internal enhancement can provide a more accurate approach to evaluate MRI-detected lesions in breast cancer patients.

Noodle consumption patterns of American consumers: NHANES 2001-2002

  • Chung, Chin-Eun;Lee, Kyung-Won;Cho, Mi-Sook
    • Nutrition Research and Practice
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    • v.4 no.3
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    • pp.243-251
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    • 2010
  • Although noodles occupy an important place in the dietary lives of Americans, up until the present time research and in-depth data on the noodle consumption patterns of the US population have been very limited. Therefore, this study aimed to analyze the food consumption and diet patterns of noodle consumers and non-consumers according to age, gender, income, and ethnicity. The 2001-2002 NHANES databases were used. The NHANES 2001-2002 data showed that noodle consumers reporting noodle consumption in their 24-h recall were 2,035 individuals (23.3% of total subjects). According to the results, the mean noodle consumption was 304.1 g/day/person, with 334.3 g for males and 268.0 g for females. By age, the intake of those in the age range of 9-18 years old ranked highest at 353.0 g, followed by the order of 19-50 year-olds with 333.5 g, 51-70 year-olds with by 280.4 g, older than 71years old with 252.3 g, and 1-8 year-olds with 221.5 g. By gender, males consumed more noodles than females. Also, according to income, the intake amount for the middle-income level (PIR 1~1.85) of consumers was highest at 312.5 g. Noodle intake also showed different patterns by ethnicity in which the "other" ethnic group consumed the most noodles with 366.1 g, followed by, in order, Hispanics with 318.7 g, Whites with 298.6 g, and Blacks with 289.5 g. After comparing food consumption by dividing the subjects into noodle consumers and non-consumers, the former was more likely to consume milk, fish, citrus fruits, tomatoes, and alcoholic beverages while the latter preferred meat, poultry, bread, and non-alcohol beverages.

A Design of the Radio Protocol for Digital Communications in HF band (HF대 디지털통신을 위한 무선프로토콜 설계)

  • Kim, Tae-Hyun;Choi, Jo-Cheon
    • Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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    • 2007.10a
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    • pp.153-158
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    • 2007
  • The INMARSAT is able to long range maritime communications that can not use for expensive charge in non-SOLAS ship. Therefore, international discussion for the question that replacements use of MF/HF band for maritime distress and safety communications in maritime. HF data communications system may be effectively utilized for SOLAS ships as well as for the existing non-SOLAS vessels including the fishing boats, which navigate A2 and A3 sea areas. The HF data communications may have various functions such as e-mail services, broadcasting services of up-to-date information related to marine safety, position reporting services, polling services etc. However, the present HF e-mail communications protocols have a problem of increasing calling redundancy as the number of channels in operation increases. This paper new protocol and communication sequence proposed in this submission establishes a proper radio link automatically and adaptively by taking channel traffic into account.

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