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سفارش تایپ ،ترجمه، مقاله، تحقیق ، پایان نامه

مقاله Classificatory income smoothing: The impact of a change in regime of reporting financial performance


سفارش تایپ ،ترجمه، مقاله، تحقیق ، پایان نامه
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مقاله Classificatory income smoothing: The impact of a change in regime of reporting financial performance


مقاله Classificatory income smoothing: The impact of a change in regime of reporting financial performance

Abstract
Financial Reporting Standard No. 3 (FRS3) regulated the reporting of financial performance
by UK firms from 1993 until the adoption of International Financial Reporting
Standards in 2005. FRS3 outlawed extraordinary items, but allowed a clearer distinction
between recurring and transitory income by giving firms discretion over the classifications
of unusual (i.e. exceptional) items and the option to disclose alternative EPS. Through
these provisions FRS3increased the scope for classificatory choices as a means to highlight
persistent profitability. We examine the impact of FRS3 on classificatory smoothing by
UK firms and document a significant rise in this practice post-FRS3. We find that this
increase is due mainly to deviations of net income from expected earnings inducing a significantly
higher level of classificatory smoothing post-FRS3. Additional analysis shows
that earnings are substantially more persistent at the pre-exceptional level post-FRS3.
Overall, our results suggest greater use of classificatory choices to highlight sustainable
profitability after the change in performance reporting regime.

Abstract
Financial Reporting Standard No. 3 (FRS3) regulated the reporting of financial performance
by UK firms from 1993 until the adoption of International Financial Reporting
Standards in 2005. FRS3 outlawed extraordinary items, but allowed a clearer distinction
between recurring and transitory income by giving firms discretion over the classifications
of unusual (i.e. exceptional) items and the option to disclose alternative EPS. Through
these provisions FRS3increased the scope for classificatory choices as a means to highlight
persistent profitability. We examine the impact of FRS3 on classificatory smoothing by
UK firms and document a significant rise in this practice post-FRS3. We find that this
increase is due mainly to deviations of net income from expected earnings inducing a significantly
higher level of classificatory smoothing post-FRS3. Additional analysis shows
that earnings are substantially more persistent at the pre-exceptional level post-FRS3.
Overall, our results suggest greater use of classificatory choices to highlight sustainable
profitability after the change in performance reporting regime.

تعداد صفحات 49 صفحه

قیمت : 2000 تومان

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