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Financial Reporting And The Accounting Expectations Gap, James Mohs
Financial Reporting And The Accounting Expectations Gap, James Mohs
Finance Faculty Publications
The overall goal of financial reporting is to provide high quality financial information regarding reporting entities that is useful for informed decision making. Considering most organizations have multiple groups of stakeholders which often have differing and competing informational needs, as well as expectations and desired outcomes, the accounting expectations gap has become a topic of current debate in many business circles. Historically, the accounting expectations gap has centered around the role of the auditor and audit responsibility. The financial accounting expectations gap encompasses what the preparers of the statements and auditors believe they should contain and includes what stakeholders believe …
Base Erosion And Profit Shifting: Options, Opportunities And Alternatives, James Mohs, Martin Goldberg, David Palacio Buitrago
Base Erosion And Profit Shifting: Options, Opportunities And Alternatives, James Mohs, Martin Goldberg, David Palacio Buitrago
Finance Faculty Publications
Base erosion and profit shifting is generally defined as tax strategies that serve to exploit gaps or inconsistencies in global tax systems that allow an enterprise to shift profits to lower tax jurisdictions. This can be accomplished by either shifting income to lower tax jurisdiction or shifting deductible expenses to higher tax jurisdictions. Historically, these shifting strategies have been handled on a country by country basis with no centralized framework. In 2015 the Organization of Economic Cooperation and Development proposed modifications through its Base Erosion and Profit Shifting project that if adopted by the member countries, would reverse the adverse …