Business Commons^™

Ireland And Iceland In Crisis B: Decreasing Loan Loss Provisions In Ireland, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

All public companies in the European Union, including Ireland’s major banks, were required to adopt IAS 39 for their annual accounting periods beginning on or after January 1, 2005. Under the “incurred loss” model of IAS 39, banks could set aside reserves for loan losses only when objective evidence existed that a loan was impaired, not in anticipation of future losses. As a result, Irish banks saw their aggregate reserve for bad loans drop from 1.2% of loan balances at the end of 2000 to only 0.4% by 2006-07, just before the collapse of the banking industry caused loan losses …

Deferred Taxes And Cash Flow Predictability, Kaleb Norwald, Jake Thornock

Journal of Undergraduate Research

Companies are sometimes required to pay taxes on events that have not yet occurred. This tax is called a deferred tax asset or DTA. These companies will receive a refund on this special type of tax, but the refund won’t be dispersed until years later. (Sometimes, this can take up to twenty years.) The slow reimbursement of a tax refund inhibits a company’s ability to grow, hire, and innovate as it unnecessarily constrains cash flow. Additionally, since this type of tax can be 7-13% of annual operating profits, the refunds are often very sizeable amounts.

The reimbursement process can be …

Small Business In The Republic Of Uzbekistan: Accounting And Reporting Organization, B.R Matjonov

Central Asian Problems of Modern Science and Education

The article identifies the advantages of small business and private entrepreneurship in the current conditions of economic development. The statistical data reflecting the share of small business in the economy of the Republic of Uzbekistan is given. The specifics of accounting peculiar to small business enterprises are given, the review of legislative and normative acts regulating the organization of accounting and reporting of small business subjects is given.