FINANCIAL ACCOUNTING
Year:2010 | Volume:2 | Issue:5|Papers Count:16

Cash flow prediction is involved in a number of economic decisions, particularly in Investment. The current study investigates the ability of accrual and cash flows accounting data to predict future cash flows of Tehran listed companies. Three regression models are constructed namely earnings, cash flows, accrual components and cash flows models. In addition, cash flow ratios are investigated to predict future cash flows by using a stepwise regression. The population of research includes of Tehran Stock Exchange between 1382 to 1396. Eveiws 6 software and regression are used to analysis of statistical data and hypothesis of research. Cash flow data are selected directly from the cash flow statements. The empirical results show that past earnings, cash flows, cash flow and accrual component of earnings can be used to predict future cash flows of Tehran Stock Exchange and cash flows have better predictive power than past earnings. Additionally, the cash flow model and the cash flow and accrual components of earnings model have better predictive power than the earnings model. However, the results indicate that cash flow ratios are not a good predictor of future cash flows.

Today we can say that any management decision had financial results, therefore, management for taking any decision need financial information. Responsibility of preparing and processing such information is with accounting information systems.The main purpose of this research is to investigate, whether the accounting system in Bandar Imam Petrochemical Company provides information needed for management decisions. In this study the whole population of Bandar Imam Petrochemical Company’s managers are taken as the research sample. This study is combination of library and field study. Research hypotheses investigate the qualitative characteristics of accounting information system such as, understandability, relevance, reliability, comparability and timeliness. To collect the required data a questionnaire Likert- type is used and to test the hypotheses the normal Z test is conducted. Results indicate that Bandar Imam Petrochemical company’s accounting system has qualitative characteristics of information system.

This research investigates the relationship between corporate governance and earnings quality of the listed companies in the Tehran Stock Exchange. The aim of this research is to assess whether the corporate governance mechanisms influence the quality of the reported earnings. Three characteristics of the board of directors were selected as the mechanisms of the corporate governance. These are: separation between CEO and chairman, the number of outside directors and board size. The ratio of operating cash flows to operating earnings was selected to evaluate the quality of earnings. Three hypotheses were tested using regression analysis. The results of the research show that there is a significant association between two board characteristics (number of outside directors and board size) and earnings quality in the listed companies in Tehran Stock Exchange during 1382-1386 (Iranian calendar year).

The investments and financial analysts evaluate the performance assessment of firms using the criteria of earnings per share and book value per share. This research investigates the effect of earnings management on value relevance of earnings per share and book value per share with separation of discretionary accruals to long-term and short-term discretionary accruals. The task of analyzing and testing the hypothesis is fulfilled by the cross-section regression using the pooled data. The results indicate that relationship between earnings per share and book value per share with stock price are positive and significant. Also, earnings management by long- term and short- term discretionary accruals decrease the value relevance of earnings per share and book value per share. Finally, the finding of last hypothesis indicates that effect of earnings management by long-term discretionary accrual is more than short-term discretionary accrual.

This paper to examining the relationship between Tehran stock market the present study examine the relationship between variables of macroeconomics including inflation rate, (MS), exchange rate, short term rate ,long term rate and interest rate, industrial production index and Tehran Price Index stock market. In order to explain long term relationship between study variables, seasonal time series data 1991-2008(1370-1387) and co-integration techniques were used by using Method (EG) and Method (JJ). Principle question of research is if changes in variables of macroeconomics in Iran affect on Tehran Price Index stock market in long time? Resulted incomes from estimating model based on EG method confirm that there is long term relationship between macroeconomics variables and stock price index and results of estimating model based on JJ method shows change in exchange rate, inflation rate, Money Supply and industrial production scale affect on changes in price index of Tehran Price Index stock market and there is negative relationship of changes in short term interest rate and long term interest rate on Tehran Price Index stock market which consistent with research hypothesis.

An Initial Public Offering (IPO) occurs when a security is sold to the general public for the first time with expectation that a liquid market will develop. It is the means by which a firm first obtains a listing. Shares are sold to investors and the proceeds are invested by the firm. Sometimes a listing is obtained by an entrepreneur selling her or his shares to the public and the firm issues no new shares and therefore receives no proceeds .Although an IPO can be of any debt or equity security, this thesis will focus on equity issues. In this study the existence of abnormal return in initial public offering of Tehran Stock Exchange and its effective factors were examined. The results show that there is positive long term abnormal return during 12 and 24 month after the initial public offering of stocks in Tehran Stock exchange. Among nine variables; forecast error of earning per share, stock market return one month before the offering of stock, leverage, margin of profit, return on equity, Size, age, Horizon, Coefficient of Variances, only forecast error of earning per share (directly) and stock market return one month before the offering of stock and margin of profit (reversely) had a significant relationship with abnormal return in 12 month after the initial public offering of stocks. Also; any variable had not a relation with abnormal return in 24 month after the initial public offering of stocks. However, multi variable regression analyses demonstrated that all of the variables can simultaneously justify just around 42% of abnormal return during 12 month after the initial public offering of stocks in Tehran Stock exchange.

well design and implemented working capital management is expected to contribute positively to the creation of a firms value. The main goal of this paper is to provide empirical evidence about the effects of working capital management on the profitability of a small and large-size Iranian firms. The author collected data of this study from the financial statement of the corporations listed in the Tehran Stock Exchange (TSE) for the period 2001-2008. The dependent variable is return on total assets as a measure of profitability. The regression results show that high investment in inventories and receivables is associated with lower profitability. The independent variables are used in the analysis are inventories days, accounts receivables days, accounts payable days and cash conversion cycle.

In this study, the linear and non-linear relationship between financial ratios and stock price in non-metallic mine industries in Tehran stock exchange from 1382 to 1386(2003-2007) was investigated. As independent variables, three activity ratios –including inventory turnover (IT), fixed assets turnover (FAT), and assets turnover (AT) − and six profitability ratios − including return on assets (RA), return on capital (RC), return on sales (RS), percentage of earning before tax to gross profit (PEG), percentage of operating profit to sales (POS), and percentage of gross profit to sales (PGS) − were chosen. The dependent variables were the stock price at the end of the financial year and the stock price before the public association. It is confirmed that there was significant linear and non-linear relationship between financial ratios and stock price. According to the results, the best models to explain stock price were Quadratic non-linear and B models. Inventory turnover (IT) from activity ratios and return on assets (RA), return on capital (RC), and percentage of gross profit to sales (PGS) from profitability ratios were the best independent variables for explaining stock price.