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Accounting Standard Changes and Firm's Financial Reporting Quality : = Evidence from ASU 2014-15.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Accounting Standard Changes and Firm's Financial Reporting Quality :/
Reminder of title:	Evidence from ASU 2014-15.
Author:	Matkaluk, Lauren.
Description:	1 online resource (55 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-11, Section: A.
Contained By:	Dissertations Abstracts International84-11A.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798379524814

Accounting Standard Changes and Firm's Financial Reporting Quality : = Evidence from ASU 2014-15.
Matkaluk, Lauren.

Accounting Standard Changes and Firm's Financial Reporting Quality :Evidence from ASU 2014-15. - 1 online resource (55 pages)

Source: Dissertations Abstracts International, Volume: 84-11, Section: A.

Thesis (Ph.D.)--Arizona State University, 2023.

Includes bibliographical references

In 2016, the Financial Accounting Standards Board (FASB) imposed on managers a responsibility to evaluate their companies' forward-looking prospects for continuing as a going concern on a quarterly basis. Prior to this change, the responsibility of assessing the future of a company was only required annually by the external auditor through auditing standards. If this increase in management responsibility induced managers to implement a process and controls to obtain forward-looking information for disclosure, I would expect this information acquisition process to also improve overall financial reporting quality. I find that financial reporting quality increased for firms after Accounting Standards Update (ASU) 2014-15, as evidenced by less restatements. Additionally, while I find the timeliness of information decreased, as evidenced by slower earnings announcements, the decrease is not economically meaningful. Lastly, I find the effect of the standard change on financial reporting quality is greater for non-financially healthy companies who have to perform a more extensive analysis under ASU 2014-15. While the purpose of the accounting standard was to reduce diversity in the timing and content of going concern disclosures, I find evidence of other benefits with little costs that this standard had on firm's financial reporting.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798379524814Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Financial Accounting Standards BoardIndex Terms--Genre/Form:

554714
Electronic books.

Accounting Standard Changes and Firm's Financial Reporting Quality : = Evidence from ASU 2014-15.
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500 $a Advisor: Lamoreaux, Phillip.
502 $a Thesis (Ph.D.)--Arizona State University, 2023.
504 $a Includes bibliographical references
520 $a In 2016, the Financial Accounting Standards Board (FASB) imposed on managers a responsibility to evaluate their companies' forward-looking prospects for continuing as a going concern on a quarterly basis. Prior to this change, the responsibility of assessing the future of a company was only required annually by the external auditor through auditing standards. If this increase in management responsibility induced managers to implement a process and controls to obtain forward-looking information for disclosure, I would expect this information acquisition process to also improve overall financial reporting quality. I find that financial reporting quality increased for firms after Accounting Standards Update (ASU) 2014-15, as evidenced by less restatements. Additionally, while I find the timeliness of information decreased, as evidenced by slower earnings announcements, the decrease is not economically meaningful. Lastly, I find the effect of the standard change on financial reporting quality is greater for non-financially healthy companies who have to perform a more extensive analysis under ASU 2014-15. While the purpose of the accounting standard was to reduce diversity in the timing and content of going concern disclosures, I find evidence of other benefits with little costs that this standard had on firm's financial reporting.
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