Accounting for Lease Transactions: Analysis of Possible Lobbying in the Issuing of IFRS 16
DOI:
https://doi.org/10.17524/repec.v11i4.1686Keywords:
Comment Letters, Leases, Lobbying, IASB, IFRS 16Abstract
Objective: This study intends to analyze the potential existence of lobbying in the transition process from International Accounting Standard (IAS) 17 to International Financial Reporting Standard (IFRS) 16, issued by the International Accounting Standards Board (IASB) and related to leases. Method: We collected 641 commented letters that were submitted to public review in the context of the revised Exposure Draft (2013). The study adopts content analysis as a method. Then, the data were submitted to univariate and bivariate content analysis. Results: The results suggest that lobbying took place, in view of the significant divergences found between financial and non-financial entities with regard to the main aspects of the standard, related to the disclosure and the only lease accounting model. Contributions: Verifying the existence of significant opinion differences that indicate lobbying in the context of the transition process to the standard promoted by IASB and, in function of the distinct lobbies involved, is the main contribution of this research.References
Allen, A., Ramanna, K. & Roychowdhury, S. (2014). Auditor lobbying on accounting standards. Harvard Business School Accounting & Management Unit. Working Paper No. 15-055.
Anantharaman, D. (2015). Regular paper: Understanding the evolution of SFAS 141 and 142: An analysis of comment letters. Research in Accounting Regulation, 27 (2), pp. 99-110. DOI: https:doi.org/10.1016/j.racreg.2015.09.001
Asekomeh, A., Russell, A. & Tarbert, H. (2006). A critical analysis of the use of accounting standards’ comment letters as lobbying tools by extractive industry firms. Petroleum Accounting and Financial Management Journal, 25(3), pp. 55-76. Recuperado em 23 abril, 2017, de: https://repository.abertay.ac.uk/jspui/handle/10373/70.
Bamber, M. & McMeeking, K. (2016). An examination of international accounting standard-setting due process and the implications for legitimacy. The British Accounting Review, 48, pp. 59-73. DOI: https:doi.org/10.1016/j.bar.2015.03.003
Bengtsson, E. (2011). Repoliticalization of accounting standard setting - The IASB, the EU and the global financial crisis. Critical Perspectives on Accounting, 22 (6), pp. 567-580. DOI: https:doi.org/10.1016/j.cpa.2011.04.001
Carvalho C., Albuquerque, F., Texeira Quirós, J. & Justino, M. (mai./jun./jul./ago. 2015). Uma análise das diferenças em termos dos interesses profissionais a partir do projeto de substituição da IAS 39. Revista Contabilidade Financeira – USP, 26(68), pp. 181-194. DOI: https:doi.org/10.1590/1808-057x201500530
Chatham, M., Larson, R. & Vietze, A. (2010). Issues affecting the development of an international accounting standard on financial instruments. Advances in Accounting, 26 (1), pp. 97-107. DOI: https:doi.org/10.1016/j.adiac.2010.03.002
Do Carmo, C., Mussoi, A., & Carvalho, L. (2011). A influência dos grupos de interesse no processo de normatização contábil internacional: O caso do discussion paper sobre leasing. Anais Congresso USP de Controladoria e Contabilidade, 11. São Paulo, SP, Brasil. Recuperado em 23 abril, 2017, de: http://repositorio.bc.ufg.br/handle/ri/416.
Donkersley, K., Ravelli, R., & Buchanan, P. (2016). IFRS 16 Leases. [Em linha]. Recuperado em 20 abril, 2017, de: http://www.ifrs.org/Alerts/ProjectUpdate/Documents/2016/Webinar-IFRS-16-Leases.pdf.
Fama, E. (1980). Agency Problems and the Theory of the Firm. The Journal of Political Economy, 88(2), pp. 288-307. Recuperado em 25 abril, 2017, de:http://www.jstor.org/stable/1837292.
Fogarty, T. (1992). Financial accounting standard setting as an institutionalized action field: Constraints, opportunities and dilemas. Journal of Accounting and Public Policy, 11(4), pp. 331-355. DOI: https:doi.org/10.1016/0278-4254(92)90003-G
Georgiou G. (2004). Corporate lobbying on accounting standards: Methods, timing and perceived effectiveness. ABACUS, 40(2), pp. 219-237. DOI: v10.1111/j.1467-6281.2004.00152.x.
Giner, B., Arce, M. (2012). Lobbying on accounting standards: Evidence from IFRS 2 on Shared-Based Payments. European Accounting Review, 21(4), pp. 655-691. DOI: https:doi.org/10.1080/09638180.2012.701796
Hansen, B. (2010). Lobbying of the International Accounting Standards Board: An empirical investigation. DOI: https:doi.org/10.2139/ssrn.1081413
Hartwig, F. (2012). Preparers’ and Non-Preparers’ Lobbying on the Proposed Prohibition of Goodwill Amortisation in ED3 ‘Business Combinations’. The Finnish Journal of Business Economics, 63(3-4), pp. 30-60. Recuperado em 23 abril, 2017, de:http://urn.kb.se/resolve?urn=urn:nbn:se:du-12549.
Hill, N., Shelton, S. & Stevens, K. (2002). Corporate lobbying behaviour on accounting for stock-based compensation: Venue and format choices. ABACUS, 38(1), pp. 78-90. DOI: https:doi.org/10.1111/1467-6281.00098
Holder, A., Karim, K., Lin, K. & Woods, M. (2013). A content analysis of the comment letters to the FASB and IASB: Accounting for contingencies. Advances in Accounting, incorporating Advances in International Accounting, 29(1), pp. 134-153. DOI: https:doi.org/10.1016/j.adiac.2013.03.005
International Financial Reporting Standards (IFRS) (2016). Exposure Draft Leases (ED/2013/6). [Em linha]. Recuperado em 20 abril, 2017, de: http://www.ifrs.org/Current-Projects/IASB-Projects/Leases/Exposure-Draft-May-2013/Documents/ED-Leases-Standard-May-2013.pdf
International Financial Reporting Standards (IFRS) (2016a). IFRS 16 Leases: Effects analysis. [Em linha]. Recuperado em 16 novembro, 2017, de: http://www.ifrs.org/-/media/project/leases/ifrs/published-documents/ifrs16-effects-analysis.pdf.
Jensen, M. & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), pp. 305-360. DOI: org/ https:doi.org/10.1016/0304-405X(76)90026-X
Jorissen, A., Lybaert, N., Orens, R. & Van Der Tas, L. (2012). Formal Participation in the IASB’s Due Process of Standard Setting: A Multi-issue/Multi-period Analysis. European Accounting Review, 21(4), pp. 693–729. DOI: https:doi.org/10.1080/09638180.2010.522775
Kenny, S. & Larson, R. (1993). Lobbying behaviour and the development of international accounting standards: The case of the IASC's joint venture project. European Accounting Review, 2(3), pp. 531-554. DOI: https:doi.org/10.1080/09638189300000050
Klein, L. (1946). Macroeconomics and the Theory of Rational Behavior. Econometrica, 14 (2), pp. 93-108. DOI: https:doi.org/10.2307/1905362
Kort, N. (2011). Self-interest in lobbying on accounting standards: The case of a new lease standard. Dissertação de Mestrado. Universidade de Tilburg, Holanda. Recuperado em 25 abril, 2017, de:http://arno.uvt.nl/show.cgi?fid=120551.
Krippendorff, K. 1980. Content Analysis: An Introduction to Its Methodology. California, Sage Pulications, Inc.
Kothari, S., Ramanna, K. & Skinner, D. (2010). Implications for GAAP from an analysis of positive research in accounting. Journal of Accounting and Economics, 50(2-3), pp. 246-286. DOI: https:doi.org/10.1016/j.jacceco.2010.09.003
Larson, R. (2002). The IASC'S search for legitimacy: An analysis of the IASC'S standing interpretations Committee. Advances in International Accounting, 15, pp. 79-120. DOI: https:doi.org/10.1016/S0897-3660(02)15020-3
Larson, R. (2007). Constituent participation and the IASB's International Financial Reporting Interpretations Committee. Accounting in Europe, 4(2), pp. 207-254. doi: https:doi.org/10.1080/17449480701727981
Larson, R. (2008). An examination of comment letters to the IASC: Special purpose entities. Research in Accounting Regulation, 20, pp. 27-46. DOI: https:doi.org/10.1016/S1052-0457(07)00202-0
Larson, R, & Brown, K. (2001). Lobbying of the International Accounting Standards Committee: The case of construction contracts. Advances in International Accounting, 14, pp. 47-73. DOI: https:doi.org/10.1016/S0897-3660(01)14005-5
Lloyd, S. (2016). Investor perspectives - A new lease of life. [Em linha]. Recuperado em 20 abril, 2017, de: https://dart.deloitte.com/resource/1/e93ed2dc-3f2f-11e6-95db-b1f180414c3d.
Mellado-Bermejo, L. & Esteban, L. (2014). An exploratory study of countries participation intensity in comment-letters: Leases accounting proposal. Encuentro AECA: “Recuperação económica: confiança e investimento na Europa ”, 16. Leiria, Portugal. Recuperado em 26 abril, 2017, de: http://www.aeca1.org/ xviencuentroaeca/cd/59a.pdf.
Orens, R., Jorissen, A., Lybaert N. & Van Der Tas, L. (2011). Corporate lobbying in private accounting standard setting: Does the IASB have to reckon with national differences?. Accounting in Europe, 8(2), pp. 211-234. DOI: https:doi.org/10.1080/17449480.2011.621672
Posner, R (1974). Theories of economic regulation. The Bell Journal of Economics and Management Science, 5(2), pp. 335-358. DOI: https:doi.org/10.2307/3003113
Procházka, D. (2015). Lobbying on the IASB standards: An analysis of the lobbyists’ behaviour over period 2006-2014. Copernican Journal of Finance & Accounting, 4(2), pp. 129-143. DOI: https:doi.org/10.12775/CFJA.2015.020
Santos, O. & Santos, A. (2014). Lobbying on accounting regulation: Evidence from the oil industry. Revista Contabilidade & Finanças, 25(65). DOI: https:doi.org/10.1590/S1519-70772014000200004
Scott, W. (1987). The Adolescence of institutional theory. Administrative Science Quarterly, 32(4), pp. 493-511. DOI: https:doi.org/10.2307/2392880
Stigler, G. (1971). The Theory of Economic Regulation. The Bell Journal of Economics and Management Science, 2(1), pp. 3-21. DOI: https:doi.org/10.2307/3003160
Watts, R. & Zimmerman, J. (1978). Towards a positive theory of the determination of accounting standards. The Accounting Review, 53(1), pp. 112-134. Disponível em http://lib.cufe.edu.cn/upload_files/other/4_20140515041338_6%20Watts,%20R.%20L.,%20Zimmerman,%20J.%20L.%EF%BC%881978%EF%BC%89Towards%20a%20Positive%20accounting%20theory%20for%20the%20determination%20of%20accounting.pdf.
Weber, R. (1990). Basic content analysis (Quantitative Applications in the Social Sciences), Nº. 49. California, Sage Publications, Inc.
Downloads
Published
How to Cite
Issue
Section
License
Authors who publish with this journal agree to the following terms:
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under Creative Commons Attribution 3.0 Unported License, which allows the sharing of the work and recognition of authorship and its initial publication in this journal. This license allows others to distribute, remix, adapt, or create derivative works, even for commercial purposes, provided credit is given for the original creation.
b)There is no financial compensation to the authors in any capacity, for articles published in RePEc.c) The articles published in RePEc are the sole responsibility of the authors.
