Research Paper on Financial Statements of Private Sector Entities: Disclosure of Non-Current Tangible Asset Information: The Case of Lithuania

Description

Title: Financial Statements of Private Sector Entities: Disclosure of Non-Current Tangible Asset Information: The Case of Lithuania

Abstract: The goal of the study is to evaluate the quality of the accounting information disclosure (AID) for non-current tangible assets in the annual financial statements of Lithuanian private sector entities and to pinpoint the traits of these companies that influence the AID quality. The financial statements’ AID quality research model has been developed. The initial checklists were designed based on the legal requirements of the national accounting standards, and the disclosure quality indices (DQIs) that allow evaluation of AID (both mandatory and voluntary) quality were created. The empirical findings demonstrate that during the investigation period, the AID quality of Lithuanian enterprises was adequate and average. When Lithuania’s economy underwent a significant change, with rapid growth followed by a financial crisis, this significant change in AID quality was not seen in the short term (2007–2008). As Lithuania transitioned from a developing to a developed nation over the long term (2007–2016), it was also investigated whether any significant changes were seen. The findings reveal that while additional (for large and medium) AID quality increased during this time, mandatory (for all enterprises) and voluntary information disclosure did not change significantly. The enterprise’s characteristics (such as its size, debt-paying capacity, indebtedness, tangible assets, and profitability) appeared to have a statistically significant impact on the AID quality, according to a multiple panel regression analysis. The study’s conclusions may aid regulators in raising the bar for information transparency and comparability, as well as shareholders, potential creditors or investors, financial analysts, and other stakeholders when making decisions about how best to assess the quality of AIDs.

Keywords: accounting information disclosure quality; disclosure quality index; non-current tangible assets; financial reporting; private sector

Paper Quality: SCOPUS / Web of Science Level Research Paper

Subject: Economics

Writer Experience: 20+ Years

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