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In the UK, the accountancy profession plays an important and influential role in the audit and regulation of economic and social affairs. Although an increasing amount of interest is currently being taken in the role of accounting and auditing in society, comparatively little attention has been given to the profession′s obligation, as mentioned in the Royal Charters, to act as guardian of the “public interest” in relation to public policy making. Through an examination of correspondence with the professional bodies, stimulated by a refusal to provide information about matters relating to an auditing guideline, the accountability of these bodies to their members and to the public more generally is discussed. It is suggested by the evidence that the profession′s interpretation of the requirement to serve the “public interest” is not easily reconciled with its declared obligations.

Alasdair MacIntyre′s book After Virtue is used as the basis to reflect on possibilities for virtue in accounting and some problems in its realisation. MacIntyre advances a neo‐Aristotelean account of virtue that is grounded in practice and which focuses on the unique internal rewards of a practice. Accounting is suggested to be a practice in this sense and five possible internal rewards are identified: honesty, concern for the economic status of others, sensitivity to the value of both co‐operation and conflict, the communicative character of accounting practice, and the dissemination of economic information. Several potential problems in realising virtue are then discussed including the tendency for external rewards to dominate internal rewards, the corrupting power of institutions, and a confusion between laws (rules) and virtues.

According to most authors, a body of (formal) knowledge is the crucial trait of professions. It is the presumed existence of this knowledge which legitimises claims to expertise, professional powers, autonomy and control over work. The body of knowledge around which the financial accounting professionalisation project has taken place is described and it is shown that professionalisation took place around a variety of personal qualities, such as honesty, independence and respectability – skills not specific to “accountants”, such as penmanship, arithmetic, work and knowledge, which at the time were contestable as being the domain of the legal profession. It is suggested that (not unlike other professions), the knowledge foundations of the accounting profession are problematic and so in order to reproduce and advance the accounting profession, members must counteract threats to its legitimacy stemming from its underlying knowledge foundations. It is also suggested that the frequently repeated search for a conceptual framework represents a means of counteracting this threat to the social legitimacy of the accounting profession, and that conceptual framework projects are used as a political resource in the profession‐alisation struggle during times of possible intervention by the state and at times of competition from other (including accounting) groups.

The 2013 curriculum mandates the importance of collaborative learning designed to educate students to be more productive, creative, and innovative with a high level of affective skills. Collaborative learning can be manifested in the form of a textbook. This research is aimed at developing an accounting textbook in accordance with the mandate of the 2013 curriculum. The selected model is IDI which consists of three main phases: defining, developing and evaluating. The methods chosen are interview, observation, and document review which are analyzed qualitatively. The research was conducted in 4 senior high schools in Malang. The finding shows that at defining phase, there is a need to develop an accounting textbooks using collaborative learning and corresponding to the new accounting standards, namely IFRS. Therefore, at the developmental phase, we construct a prototype book ready to be evaluated. The result of evaluation phase shows that the textbook is valid on the overall aspects including the content, the presentation, the graphic, and the language, with an average percentage of 93.7%.

This editorial reflects on 25 years of AAAJ and on the interdisciplinary accounting movement and its future direction. It emphasises the Editors' commitment to encouraging the application of a broad range of theories and research methodologies as well as their ongoing support for diversity as a defining feature of AAAJ. This includes the wider community, which includes the APIRA conference attendees, Special Issue editors and the many individuals who have all played an important part in AAAJ's 25 years. The Editors continue to urge interdisciplinary accounting researchers to undertake innovative research and be both original and creative, thereby avoiding a narrowness that is an increasing feature of North American economics based accounting research. The important role of academic researchers is highlighted in not simply observing, but also engaging in and constructing an enabling accounting. The purpose here is to reflect on the past and to look towards the future.

The paper employs a literature‐based analysis and critique. It also identifies via empirical data the field of scholarship associated with AAAJ and evidence of the patterning of recent publications.

This editorial draws together various themes in our previous AAAJ editorials and highlights milestones in the journey to our current position. It identifies various challenges that confront interdisciplinary researchers in the globalised academic community. It also points to the need for researchers to reflect on their motivation, informing theories and values to ensure that their academic endeavours are making a contribution to practice, policy and a wider societal good.

It is hoped the practical and research issues explored in this editorial will invoke more interdisciplinary perspectives on accounting and the accounting profession, and assist scholars in reflecting on their academic studies and potential challenges facing them.

This editorial reflects on the developments in AAAJ over the past 25 years and discusses various contributions. It also celebrates the top ten authors, topics, Special Issue editors, and the last ten AAAJ Best Paper awards.

Managerial Accounting, Strategic Marketing. More specifically, cost behavior, cost estimation, cost prediction, cost-volume-profit (CVP) analysis, contribution income statement and pricing/promotional strategy.

This case is suitable to be used in advanced undergraduate level.

This case demonstrates the issues relating to pricing strategy of “Video Internet Marketing Training”. Diyana Tahir and her husband, Abdul Rahim Abdul Shukor, established Aras Design & Multimedia Centre (ADMC) on January 17, 2009. The main office was located at Kuala Lumpur. Diyana was a well-known name in the field of internet video marketing training. In its early years, ADMC’s operation was limited to providing printing and graphic design services and offering printing materials for photocopy. However, with the passage of time, the company began to expand its services and offerings. At the beginning of 2010, ADMC offered editing facilities and services for video and multimedia in addition to its core services. As a unique marketing strategy, Diyana offered RM30 as the basic training fee for each participant, which was equivalent to RM470 value offered. In this way, she attracted customers to take part in further advanced level training that was conducted by ADMC. However, she felt that the number of participant to take advanced training was not satisfactory. She thought that it happened perhaps due to the fact that the participants were not much committed to the course since it was offered at a nominal price. Furthermore, she realized that the cost of providing such training had risen in the past six months. Currently, ADMC suffered losses in three consecutive months, and they really needed enough cash to sustain. As such, Diyana was thinking to reconsider the offered course fees whether to increase it. She was in a rush to make a decision to propose the new course fee in the monthly meeting with management committee at the end of April 2013.

Using this case, students can learn how a small-scale company can strategize its pricing strategy to survive in the highly competitive online market. The objectives of using this case are as follows: to help students in understanding the interrelationships between CVP in organization that can be used for future planning and decision-making; to be able to identify the cost structure of the basic training course (e.g. fixed and variable costs), determine the contribution margin, break-even point and prepare the contribution income statement that highlighting cost behavior; to help students to think critically while setting the price for the offered services; to develop students’ ability in analyzing the existing situation to come up with a viable and effective solution; to assist students in taking the right move in a right time; to broaden students’ views and understanding in considering the monetary aspect along with the human aspect in formulating an effective marketing strategy; to develop students’ understanding of the way to retain and attract customers through innovative pricing strategy; and to make students aware that innovation is the key to business success.

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS 1: Accounting and Finance.

Accounting and Finance.

Postgraduate/graduate.

This paper aims to analyse the fixed assets management of Larsen & Toubro Ltd (L&T), a leading Indian construction company for sufficiency and efficiency, and explore its future growth prospects in relation to its capital investments. It also investigates whether the global crisis in 2008 had any impact on the development plans of the company for future orientation as the global recession affected companies in various sectors worldwide. It specifically aims to find out whether L&T was in a better position to face the situation in the industry.

Expected learning outcomes are as follows: to learn and apply the concept of fixed assets management in a business organization; to evaluate the impact of fixed assets management on the profitability of the company; to appreciate the importance of fixed assets management efficiency in a business organization; and to illustrate the use of financial crisis on the growth prospects of a business.

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS 1: Accounting and finance.

Learning outcomes of this paper are to analyse, record and classify financial transactions; prepare unadjusted trial balance; record the adjustment and closing entries and prepare post-closing trial balance; and prepare financial statements.

The case aims to induce users to draw up financial statements from the details provided. The complete accounting process is covered through solving the case. The case follows a start-up company from its first set of financial transactions to preparing the first set of financial statements. The case will help in application of accounting concepts, principles and the processes for recording transactions and preparation of financial statements.

The case is best suited for senior undergraduate- and graduate-level students of management/business schools in the courses of introductory financial accounting, intermediate accounting and financial reporting.

Teaching notes are available for educators only.

CSS 1: accounting and finance.

The case provides an insight on the provisions of the IND AS 115 (largely converging with IFRS 15), financial impact of alternative accounting practices and dynamics of a revenue recognition decision. MBA students can use the knowledge derived from the case at their workplace when they encounter accounting of “revenue from a contract with customers”.

Saifudin Rehman, one of the promoter of Suprajeet Corporation (SUC) had been engaged in electrical installation contract business. The firm had been doing well in the field of small contracts and was having steady growth. People in the firm were also quite acquainted with the kind of contracts they were doing. However, Saifudin always wanted to get into a big contract business. For getting into big installation contracts, the corporation needed more working capital and needed to satisfy the criteria of having a high amount of turnover in the preceding year. The case will be looked into from the perspective of accounting procedure to see the possibility of increasing the revenue by changing the method of accounting in relation to revenue recognition. The case provided the opportunity to evaluate the benefits and the costs involved in changing the accounting method in SUC.

Commerce Graduates and MBA I.

Teaching notes are available for educators only.

CSS 1: Accounting and Finance.

The case is appropriate for courses in financial accounting and reporting, audit and assurance, forensic accounting, accounting practice and regulations and corporate governance. After studying the case, students should be able to explain the concept of control and power under IFRS; explain the concept of economic; discuss audit committee and external auditor independence issues and ways to strengthen auditor’s independence; assess the usefulness of the new extended audit report; and evaluate the role of gatekeepers such as financial analysts, audit committee, external auditor, institutional investors and regulators in enhancing the quality of financial reporting.

This case focuses on the accounting policy choices of the foreign associates of AirAsia Berhad. AirAsia Berhad is a phenomenal success, from a debt laden company to having been voted as World’s Best Low-Cost Airline in the annual World Airline Survey by Skytrax for eight consecutive years from 2009 to 2016 and the World’s Leading Low-Cost Airline in the annual World Travel Awards for four consecutive years from 2013 to 2016. In June 2015, an analyst report was leaked, and it led to heated discussion and exchanges in the market. The report questioned the non-consolidation of AirAsia Berhad associates. The share market also reacted. Various players in the market came into foray with their statements and opinions on the merit of the accounting policy choice by AirAsia Berhad. Whose views actually reflect the nature of accounting policy choice that is true and fair? Are these gatekeepers attesting to the accounting crux of substance over form?

Senior undergraduates; MBA; EMBA

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS: 1: Accounting and Finance