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| Author: | Al Jifri, K. Citron, D. |
| Title: | The value-relevance of financial statement recognition versus note disclosure: evidence from goodwill accounting |
| Journal: | European Accounting Review
2009 : MAY, VOL. 18:1 p. 123-140 |
| Index terms: | accounting standards financial statements goodwill accounting auditors stocks |
| Language: | eng |
| Abstract: | The study investigates the relative significance of financial statement recognition and note disclosure in a new context by exploiting the UK regulatory environment where old pre-FRS 10 goodwill continues to be disclosed in the notes to the accounts at the same time as new post-FRS 10 goodwill is capitalised. The analysis bases on a sample of 243 non-financial firms containing amounts of both recognised and disclosed goodwill in their 2002 financial statements. It seems that both variables are significantly associated with share price. Moreover, firms engaging in R&D have no significant difference between the contributions of disclosed and recognised goodwill in explaining market value, which is consistent with the markets efficiently incorporating goodwill information irrespective of where it appears in the annual report. |
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