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Nedskrivningsprövning av goodwill

Dahl, Joel LU ; Gottfridsson, Karl LU and Svensson, Anders LU (2014) FEKH69 20141
Department of Business Administration
Abstract (Swedish)
Syfte: Syftet med kandidatuppsatsen är att beskriva och undersöka hur nedskrivningsprövning av goodwill i enlighet med IAS 36 har gått till och redovisats i fem goodwillintensiva börsnoterade koncerner under perioden 2005 - 2013.
Metod: Uppsatsen är utformad som en fallstudie med kvalitativ ansats. Data¬insamlingen består uteslutande av sekundärdata, med ett stort fokus på objektens årsredovisningar. Uppsatsen använder sig inte av intervjuer vilket motiveras med att årsredovisningarna anses som tillräckligt omfattande för att uppfylla studiens syfte. Urvalet föll på de fem börsnoterade koncerner som uppvisade störst andel goodwill i förhållande till sina totala tillgångar på Nasdaq OMX Stockholm Large Cap.
Teoretiskt ramverk: Uppsatsens... (More)
Syfte: Syftet med kandidatuppsatsen är att beskriva och undersöka hur nedskrivningsprövning av goodwill i enlighet med IAS 36 har gått till och redovisats i fem goodwillintensiva börsnoterade koncerner under perioden 2005 - 2013.
Metod: Uppsatsen är utformad som en fallstudie med kvalitativ ansats. Data¬insamlingen består uteslutande av sekundärdata, med ett stort fokus på objektens årsredovisningar. Uppsatsen använder sig inte av intervjuer vilket motiveras med att årsredovisningarna anses som tillräckligt omfattande för att uppfylla studiens syfte. Urvalet föll på de fem börsnoterade koncerner som uppvisade störst andel goodwill i förhållande till sina totala tillgångar på Nasdaq OMX Stockholm Large Cap.
Teoretiskt ramverk: Uppsatsens teoretiska ramverk består av de IAS utgivna redovisnings-standarder som används inom börsnoterade koncerners koncernredovisning. Utöver detta används vedertagna företagsekonomiska teorier såsom intressentmodellen, Principal-Agent-teorin och som förlängning av detta, positiv redovisningsteori. Vidare anläggs ett aktiemarknadsperspektiv för att analysera redovisningen.
Empiri: Först ges en kort introduktion av undersökningsobjekten och deras förutsättningar. Empirin består av sammanställning och presentation av ekonomiska siffror inhämtade ur samtliga undersökningsobjekts årsredovisningar samt textbaserad data inhämtad ur, för uppsatsen, relevanta noter i samtliga årsredovisningar. De undersökta bolagen är Assa Abloy, Getinge, Meda, Ratos och Securitas.
Slutsats: Förvärvstakten har varit hög och goodwillposternas roll har vuxit under perioden 2005 - 2013. Nedskrivningsprocenten har under åren, för samtliga undersökta bolag, varit låga relativt vad de skulle ha varit under tidigare regelverk. Diskonteringsräntorna har inte skiftat märkbart under perioden trots konjunktursvängningar. IAS principbaserade redovisningsstandarder lämnar utrymme för tolkning vilket är negativt för potentiella aktieägare från ett aktiemarknadsperspektiv. För utomstående part är nedskrivningsprövningens redovisning i koncernerna av stor vikt då den kan leda till stor resultatpåverkan för bolag med stor andel goodwill. Redovisningen kring nedskrivnings-prövning är ofta otydlig, inte minst vad det gäller diskonteringsräntor. Vissa bolag redovisar diskonteringsräntor efter skatt och vissa redovisar före skatt. IAS 36 påverkar därför, genom sitt tolkningsutrymme, potentiella aktieägare negativt eftersom goodwill¬redovisningen inte gör tillräckligt mycket för att brygga över den informationsasymmetri som existerar. (Less)
Abstract
Purpose: The purpose of the thesis is to describe and investigate how five public groups with significant goodwill have accounted their goodwill impairment testing in accordance with IAS 36 standard during the time period of 2005 - 2013.
Methodology: The thesis is shaped as a case study with a qualitative approach. The collection of data consists solely of secondary data collected through annual reports. The thesis does not use any interview methodology motivated by the fact that the authors deem the annual reports as sufficient for the thesis to fulfill its purpose. The selection process consisted of picking the five groups on the Nasdaq OMX Stockholm Large Cap who for the year 2013 presented the highest ratio of goodwill to total... (More)
Purpose: The purpose of the thesis is to describe and investigate how five public groups with significant goodwill have accounted their goodwill impairment testing in accordance with IAS 36 standard during the time period of 2005 - 2013.
Methodology: The thesis is shaped as a case study with a qualitative approach. The collection of data consists solely of secondary data collected through annual reports. The thesis does not use any interview methodology motivated by the fact that the authors deem the annual reports as sufficient for the thesis to fulfill its purpose. The selection process consisted of picking the five groups on the Nasdaq OMX Stockholm Large Cap who for the year 2013 presented the highest ratio of goodwill to total assets.
Theoretical perspectives: The theoretical perspectives used in the thesis consists of the accounting standards issued by IASB, used by Swedish public groups in their consolidated financial statements. Further business administrative theories are utilized such as stakeholder theory, Principal Agent-theory and as an extension of this, positive accounting theory. A stock market perspective is applied to analyze the accounting methods. The companies included in this study are Assa Abloy, Getinge, Meda, Ratos and Securitas.
Empirical foundation: Firstly a short introduction is made of every test subject and its background. The empirical data consists of compilation and presentation of economic data gathered from every test subject's annual report. Also text-based data concerning goodwill relevant accounting is presented from all relevant notes found in the annual reports.
Conclusion: The rate of acquisitions has been high and the role of goodwill has grown during the period of 2005 - 2013. The impairment percentage has during the years, in every case, been low relative what it would have been during previous regulations. The discount rates have not shifted notably during the period despite the troughs and peaks in the economy. The principle-based accounting standards of IAS permit room for interpretation, which is negative for potential shareholders according to a stock market-perspective. The accounting of impairment testing is important to external parts in goodwill heavy companies seeing as impairment can lead to a significant effect on the bottom line. The accounting of impairment testing is often ambiguous, especially concerning the discount rates. In some cases they are presented pre tax and in some, post tax. Through its room for interpretation the IAS 36 standard therefore impacts potential shareholders negatively due to the fact that the goodwill accounting does not do enough to offset the existing information asymmetry. (Less)
Please use this url to cite or link to this publication:
author
Dahl, Joel LU ; Gottfridsson, Karl LU and Svensson, Anders LU
supervisor
organization
alternative title
En fallstudie av svenska börsbolag
course
FEKH69 20141
year
type
M2 - Bachelor Degree
subject
keywords
Diskonteringsränta, IAS 36, Nedskrivningsprövning, Positiv redovisningsteori, Goodwill
language
Swedish
id
4464919
date added to LUP
2014-06-24 09:01:10
date last changed
2014-11-17 14:47:22
@misc{4464919,
  abstract     = {{Purpose:	The purpose of the thesis is to describe and investigate how five public groups with significant goodwill have accounted their goodwill impairment testing in accordance with IAS 36 standard during the time period of 2005 - 2013.
Methodology:	The thesis is shaped as a case study with a qualitative approach. The collection of data consists solely of secondary data collected through annual reports. The thesis does not use any interview methodology motivated by the fact that the authors deem the annual reports as sufficient for the thesis to fulfill its purpose. The selection process consisted of picking the five groups on the Nasdaq OMX Stockholm Large Cap who for the year 2013 presented the highest ratio of goodwill to total assets.
Theoretical perspectives:	The theoretical perspectives used in the thesis consists of the accounting standards issued by IASB, used by Swedish public groups in their consolidated financial statements. Further business administrative theories are utilized such as stakeholder theory, Principal Agent-theory and as an extension of this, positive accounting theory. A stock market perspective is applied to analyze the accounting methods. The companies included in this study are Assa Abloy, Getinge, Meda, Ratos and Securitas.
Empirical foundation:	Firstly a short introduction is made of every test subject and its background. The empirical data consists of compilation and presentation of economic data gathered from every test subject's annual report. Also text-based data concerning goodwill relevant accounting is presented from all relevant notes found in the annual reports.
Conclusion: The rate of acquisitions has been high and the role of goodwill has grown during the period of 2005 - 2013. The impairment percentage has during the years, in every case, been low relative what it would have been during previous regulations. The discount rates have not shifted notably during the period despite the troughs and peaks in the economy. The principle-based accounting standards of IAS permit room for interpretation, which is negative for potential shareholders according to a stock market-perspective. The accounting of impairment testing is important to external parts in goodwill heavy companies seeing as impairment can lead to a significant effect on the bottom line. The accounting of impairment testing is often ambiguous, especially concerning the discount rates. In some cases they are presented pre tax and in some, post tax. Through its room for interpretation the IAS 36 standard therefore impacts potential shareholders negatively due to the fact that the goodwill accounting does not do enough to offset the existing information asymmetry.}},
  author       = {{Dahl, Joel and Gottfridsson, Karl and Svensson, Anders}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Nedskrivningsprövning av goodwill}},
  year         = {{2014}},
}