Revista de Contabilidad - Spanish Accounting Review 2018, V. 21 N. 2

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Open Access
Environmental performance concerns in Latin America: Determinant factors and multivariate analysis
(2018) Gallego-Álvarez, Isabel; García-Rubio, Raquel; Martínez-Ferrero, Jennifer
There is now a great concern for environmental problems and countries around the world are trying to take steps to foster economic growth without compromising future generations. In this research, we use indicators proposed in the Environmental Performance Index (EPI) based on two essential issues related to sustainable development: (i) environmental stresses on human health; (ii) protecting ecosystems and natural resources. The objective of this research focuses on analysing the EPI and the variables that can influence it. This is important because of the potential repercussions at the macroeconomic level, for example the influence it may have on the valuation of certain agents in assessing the policies of a certain country, as well as at the microeconomic level due to its relationship with other types of indexes that can be related directly to the company’s valuation and the effect on investment. We conducted multivariate analysis using the HJ-Biplot method to contextualize the countries grouped by geographic area and the variables related to the environmental indicators included in the EPI. The sample comprised 24 countries in Latin America. The findings obtained from the empirical analysis point to socioeconomic factors, such as education, determining factors of environmental performance in the countries analyzed. In addition, political ideology influences environmental performance when analysing the environmental health of the countries. Size also positively influences the EPI. From the biplot analysis, we also find that the variables for environmental health are more closely related to the countries located in the geographic area of the Caribbean (Cuba, the Dominican Republic, Haiti, Jamaica and Trinidad and Tobago). Other variables associated with ecosystem vitality, such as air pollution (effects on nature), are more closely related to Mesoamerica (Costa Rica, Honduras and Panama, among other countries). Countries in South America, however, are shown to be more concerned about climate change; these countries include Argentina, Chile and Brazi
Open Access
Motivation and learning strategies in accounting: Are there differences in English as a medium of instruction (EMI) versus non-EMI students?
(2018) Rivero-Menéndez, M. José; Urquía-Grande, Elena; López-Sánchez, Pilar; Camacho-Miñano, M. Mar
The objective of this paper is twofold: firstly, to analyse if there are differences between students’ motiva- tion and their learning strategies when they study accounting subjects in Spanish or English as a medium of instruction. Secondly, to evidence the factors that mainly influence students’ total motivation. The Motivated Strategies for Learning Questionnaire (MSLQ) was carried out on a sample of 368 undergrad- uate students of a Business Administration Degree, in several accounting subjects taught in English and in Spanish. Multivariate statistical tests were run and interesting results have been found. Students who study a degree in English have more mature learning strategies and motivation than their counterparts. This is shown in their level of self-confidence, time study management and perseverance.
Open Access
Towards convergence of government financial statistics and accounting in Europe at central and local levels
(2018) Dasí González, Rosa María; Montesinos Julve, Vicente; Vela Bargues, José Manuel
The main aim of this paper is to study the convergence between micro and macro systems of govern- ment accounting information, looking to contribute to the analysis of accounting harmonization process in the EU, as a tool to improve the comparability of financial, budgetary, and aggregated statistical reports, in order to improve social, political and economic decision-making and accountability. All this is obviously located in the current context of the EU, with a high degree of harmonization of accounting standards between the International Public Sector Accounting Standards (IPSAS), and those applied for the preparation of national accounts, ruled by European System of National and Regional Accounts (ESA 2010). We have carried out different analytical methodologies to study the convergence of public accounting systems in the EU for 2014 and 2015, considering that the new European System of National Accounts came in force since September 2014. First, for each country, we calculate a global index and partial indexes for central and local governments. Secondly, we apply an alternative model based on the distance between the adjustments of each country and the extreme situation, that would imply null adjustments. As a supplementary, we focus on the relative weight of adjustments by country and for each level of government. The study concludes, among other findings, that the importance of adjustments differs between countries and areas of government. Adjustments connected to recognition criteria (accrual or others), particularly significant from the point of view of the approach to GAAP, rank first in importance at the central government level, but are less significant at the local level.
Open Access
The macroeconomic determinants of the adoption of IFRS for SMEs
(2018) Bonito, Ana; Páis, Claudio
Small and medium-sized entities (SMEs) represent more than 95% of companies worldwide and account for more than 65% of employment. As a move towards SME harmonization, in 2009 the International Accounting Standards Board (IASB) issued the International Financial Reporting Standards (IFRS) for SMEs. Due to the lack of studies on adoption of IFRS for SMEs, we analyze the relationship between macroeconomic factors and countries’ decision to adopt IFRS for SMEs. Based on a sample of 84 adopters and non-adopters of IFRS for SMEs, both developed and developing countries, we find evidence that countries without a national set of financial accounting standards for SMEs, with experience of applying IFRS and a common law legal system are more likely to adopt IFRS for SMEs. These results may be due to low transaction costs, the importance of having some knowledge of IFRS reporting given its complexity and belonging to IFRS based countries facilitating adoption of IFRS for SMEs. Additionally, we find that European Union (EU) member countries are less likely to adopt the standard. Knowledge of macroeco- nomic factors affecting the decision to adopt IFRS for SMEs is useful for the various entities that define international accounting harmonization, such as the IASB, regulators and international accounting firms, since this information can help them to promote worldwide adoption of the standard.
Open Access
The influence of auditors’ professionalism on ethical judgement: Differences among practitioners and postgraduate students
(2018) Barrainkua, Itsaso; Espinosa-Pike, Marcela
Antecedents: Auditors’ professionalism has been criticized in recent years. Literature suggests that pro- fessionalism is decreasing due to the current audit market and the predominance of commercial goals. Objectives: The main objective of this paper is to analyze auditors’ commitment to professionalism through two key professional values: public interest and independence enforcement. In addition, this study analyzes whether postgraduate students’ professional values differ from those of experienced auditors, and among auditors at different career stages. It also studies the influence of public interest commitment and independence enforcement on auditors’ ethical judgement. Methodology: The research methodology comprised a survey that was distributed among auditors as well as among students enrolled in a postgraduate degree in auditing. 122 responses from Spanish auditors and 55 responses from students in a postgraduate auditing course were obtained. In order to test the hypothesis, ANOVA tests and a multiple regression analysis were conducted. Results: The results of this paper reveal that students’ commitment to the public interest and indepen- dence enforcement was significantly higher than that of auditors, and that these professional values lowered as auditors gain experience. However, the findings also show that the auditors possess higher ethical judgement than students do. Further, the results reveal that these two values are predecessor of ethical judgement. Conclusion: This study has practical implications for the improvement of ethical decision-making in auditing, as these results can assist with the proposal of measures that could apply to the education, recruitment, and professional development of auditors
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Audit research: Some reflections
(2018) Gonzalo-Angulo, José A.; Garvey, Anne M.
Open Access
Institutional capacity in the accounting reform process in Spanish local governments
(2018) Fresneda Fuentes, Silvia; Hernández Borreguero, Julián
In 2015, Spanish local governments began to apply a new accounting standard. The success achieved in its implementation is related with stimuli from outside the organization and with the institutional capacity – administrative and political – developed by it. Through an electronic questionnaire and several interviews carried out with municipal chief financial officers it has been shown that few actions to build the necessary institutional capacity were undertaken in the period prior to its implementation. The results show that the LGs did not attain the necessary institutional capacity and will have to continue allocating resources and time to improve it.
Open Access
Costs of debt, tax benefits and a new measure of non-debt tax shields: examining debt conservatism in Spanish listed firms
(2018) Clemente-Almendros, José A.; Sogorb-Mira, Francisco
In spite of the fact that there is empirical evidence that debt tax benefits add to firm value, additional research is needed to explain the apparently conservative debt policy of many firms. This study exam- ines whether the costs of debt and non-debt tax related issues might shed some light on the apparent “conservative leverage puzzle” for Spanish listed firms throughout the period 2007–2013. Specifically, we compare the costs of financial distress with the potential tax benefits of debt. In addition, we test whether debt conservativeness, measured by the kink, is explained by different costs of debt and non- debt tax shields. Our findings suggest that the most conservative Spanish listed firms may not be acting sub-optimally with respect to the tax advantage of debt financing. Furthermore, the results obtained are consistent with the belief that debt costs might offset the tax benefits stemming from debt financing, and debt and non-debt tax shields could act as substitutes
Open Access
Utilidad percibida del Aprendizaje Orientado a Proyectos para la formación de competencias. Aplicación en la asignatura «Auditoría de cuentas»
(2018) Palazuelos, Estefanía; San-Martín, Paula; Montoya del Corte, Javier; Fernández-Laviada, Ana
El Espacio Europeo de Educación Superior (EEES) y su pilar fundamental de formación basada en com- petencias exigen la implementación de una enseñanza que permita el aprendizaje autónomo de los estudiantes. El objetivo principal de este trabajo, de naturaleza exploratoria y descriptiva, es determinar la utilidad del Aprendizaje Orientado a Proyectos (AOP) como metodología activa de enseñanza para la formación de competencias. Los análisis están basados en la percepción de 173 estudiantes de Grado en Administración y Dirección de Empresas en una universidad española, matriculados en la asignatura «Auditoría de cuentas», que tuvieron que elaborar y exponer una revista de divulgación profesional sobre la materia. Los resultados obtenidos son indicativos de la efectividad del AOP tanto para la adquisición de conocimientos como para el desarrollo de habilidades y el fomento de actitudes/valores relevantes. Complementariamente, favorece el estímulo de la creatividad, con un alto grado de satisfacción frente a las clases magistrales. La lectura de este artículo es de interés, fundamentalmente, para todos aque- llos profesores implicados en la docencia universitaria y con ganas de generar ideas para llevar a cabo propuestas innovadoras.
Open Access
An examination of attitudes and perceptions of Spanish business and accounting students toward corporate social responsibility and sustainability themes
(2018) Larrán, Manuel; Andrades, Javier; Herrera, Jesús
This paper examines the attitudes and perceptions of business and accounting students toward corporate social responsibility and sustainability and what are the main variables for explaining differences in such attitudes and perceptions. Secondly, we compare the results of our study with those of the previous liter- ature to determine whether there are differences depending on cultural, socioeconomic and legal forces. To accomplish this task, a survey was administered to be fulfilled by Spanish business and accounting students. In total, we received 319 surveys duly responded. Our results show that business and account- ing students surveyed in our research have manifested a greater concern for the social and environmental dimensions of the corporate social responsibility and sustainability term. Meanwhile students surveyed in previous studies showed a strong commitment to the economic dimension of the corporate social responsibility and sustainability concept. Such differences are supported by cultural, socioeconomic and legal forces as well as by the institutional commitment of the university

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