Värderelevansen av Dirty Surplus Accounting Flows i Svenska Storbolag

Sammanfattning: Since the implementation of the revised IAS-1 in January 2009, the income statement has changed in order to include what is called dirty surplus accounting flows (DSF). Using data for the period 2005-2009 regarding large cap companies listed on the OMX Stockholm we identify DSF in Swedish accounting. First, we present some descriptive statistics on aggregated and individual DSF in Sweden. We find that aggregated DSF and individual items related to securities are significantly positive over time. Second, we perform a regression on returns to test for value relevance and find that aggregated DSF and individual items related to currency translation differences and cash flow hedges are value relevant in explaining returns. Finally, we fail to provide statistical evidence on whether net income or comprehensive income is of dominating value relevance. However, reasoning based on our regression results implies that net income should be considered the bottom line. Hence, we conclude that the new way of reporting DSF in line with the revised IAS-1 clarifies value relevant items to users of financial statements.