EUFIN 2012 - Vysoká škola ekonomická v Praze

implications for the IASB as it deliberates whether to adopt the more principlesbasedexpected loss model.3-2/1 Friday, 9:00 - 11:00, Room: RB 113 ID: 29Olga FERRARO (University of Calabria), Stefania VELTRIExamining the incremental value relevance of as reported other comprehensiveincome in the Italian Stock ExchangeThe main aim of the article is to test whether the Other Comprehensive Income(OCI) is incrementally value relevant for investors with regards to net income.We tested the incremental value relevance (VR) of as reported OCI. The modelused is a modified version of the Ohlson model (1995), which include dividends,as the Italian context is a dividend-focused environment. The sample isconstituted by the all non-financial listed companied to the Italian StockExchange for the 2008-2009 two-year period. The authors found evidencesupporting the hypothesis that as reported OCI numbers are incrementally valuerelevant for investors as regards net income.3-2/2 Friday, 9:00 - 11:00, Room: RB 113 ID: 45Finn SCHOELER (University of Aarhus)Voluntary disclosing cash flow statement in non-listed medium sized companies.In Denmark, like some other EU Member States, medium-sized companies arerequested to present a cash flow statement, but there are exemption rulessimilar to those for subgroups exemption to their presentation of consolidatedfinancial statements. In a sample consisting of the paper versions of annualreports from 385 Danish non-listed medium-sized companies who weredisclosing a cash flow statement as part of their annual report, we found that ina few cases, the companies were exempted to presentation of consolidatedfinancial statements, but disclosing the cash flow statement voluntarily!Since there has been some debate between IASB and the EU Commissionwhether the cash flow statement should be a mandatory part of the annualreporting for non-listed medium-sized companies, we found it interesting todirectly ask these voluntary disclosing companies as to their motivation. For thisreason we conducted a multiple-case study, where we formulated a structuredquestionnaire and made partly open-ended interview with each one of the casecompaniesaccountably responsible persons, i.e. one of the guys who signed theannual report.Among the majority of the answers we found a common understanding onpresenting the cash flow statement because of some tradition, and not because34 8 th Workshop on European Financial Reporting, Prague September 6 – 7, 2012