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11 – 20 of over 29000In our overview of the issues involved in inflation accounting we concentrated on two major problems, fixed assets and stock (which were analysed in depth in chapter two). We…
Abstract
In our overview of the issues involved in inflation accounting we concentrated on two major problems, fixed assets and stock (which were analysed in depth in chapter two). We explicitly omitted any analysis of the other significant group of items in most balance sheets, monetary items; they are the liquid or near liquid assets and liabilities which a firm possesses such as cash, debtors, creditors, loan capital and so on. Agreement amongst accountants on how inflation affects monetary items is even more remote than agreement on fixed assets and stock. We have seen that the reformers of historical cost support one or other of two rival methods, current purchasing power or current cost accounting. Although the issues surrounding the treatment of monetary units are affected by whichever method is selected for the conversion of the main accounts (CPP or CCA), one cannot really polarise the discussion on monetary items so easily because, of the methods proposed so far for dealing with them, there has been a considerable element of overlap between the various treatments. This essay attempts to set down the main strands of the argument—it avoids deliberately the more esoteric topics of the debate which are explored by a few of the later contributors.
This study makes a critical examination of the present accounting standard setting process and current issues and practices of corporate financial reporting (CFR) in an Indian…
Abstract
This study makes a critical examination of the present accounting standard setting process and current issues and practices of corporate financial reporting (CFR) in an Indian context by referring to 95 annual reports of large sized companies. It is found that Indian accounting standards have many alternative accounting choices which make financial statements of companies less comparable. The Accounting Standard Board (ASB) has issued 12 definite accounting standards, yet none of them has been reviewed. The membership of ASB lacks proper representation particularly from the users side. The standard setting process has deficiencies in the absence of public hearing and the machinery for enforcement of accounting standards is not apparent. While a review of CFR shows a strong tendency for companies to follow strict legal requirements in the disclosure and preparation of financial statements, there is much diversity in voluntary reporting practice particularly with respect to value added accounting, reporting by segments, inflation accounting, human resource accounting, and corporate social performance reporting, and there has been a tendency towards minimum disclosure. The study suggests that, to improve standards the Institute of Chartered Accountants in India should establish a Financial Reporting Council (FRC) to oversee ASB and to prepare a conceptual framework for financial reporting purposes.
Inflation is here to stay. That hard truth has important implications for strategic planning and financial reporting. Managers who want to thrive in the 1980s will have to find…
Abstract
Inflation is here to stay. That hard truth has important implications for strategic planning and financial reporting. Managers who want to thrive in the 1980s will have to find new ways of turning inflation to their advantage.
“Economists theorise about what causes it and how to cure it, financial accountants argue a lot about whether, and if so how, to report it, but management accountants have got to…
Sees the objective of teaching financial management to be to helpmanagers and potential managers to make sensible investment andfinancing decisions. Acknowledges that financial…
Abstract
Sees the objective of teaching financial management to be to help managers and potential managers to make sensible investment and financing decisions. Acknowledges that financial theory teaches that investment and financing decisions should be based on cash flow and risk. Provides information on payback period; return on capital employed, earnings per share effect, working capital, profit planning, standard costing, financial statement planning and ratio analysis. Seeks to combine the practical rules of thumb of the traditionalists with the ideas of the financial theorists to form a balanced approach to practical financial management for MBA students, financial managers and undergraduates.
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This paper provides, first, a historical perspective of accounting research relating to Asian/Pacific countries as seen from the vantage of the leading international journal in…
Abstract
This paper provides, first, a historical perspective of accounting research relating to Asian/Pacific countries as seen from the vantage of the leading international journal in the United States and, second, a bibliographical data base and index of twenty‐six years of articles on this region of the world. It accomplishes the first objective by presenting a tabular profile of research in international accounting as it pertains to countries in the Asian/Pacific Rim region as shown in articles published in the International Journal of Accounting (formerly, the International Journal of Accounting, Education and Research) and related publications which appeared from 1965 to 1990. The articles are classified according to country, research methodology, subject, and five‐year time periods. The paper accomplishes the second objective by providing an annotated bibliography of 125 articles on Asian/Pacific Rim countries and indices by country and methodology, and subject.
With the report of the Sandilands Committee now imminent, Alec Snobel discusses the conflict between Current Purchasing Power and Replacement Cost methods of financial reporting.
IN a few months' time the Safety Representative Regulations will become law. We wonder how many firms, especially the small to medium ones are ready for them; and we wonder what…
Abstract
IN a few months' time the Safety Representative Regulations will become law. We wonder how many firms, especially the small to medium ones are ready for them; and we wonder what was the real reason for them being put on the Statute Book in the first place.
Sue Smith, Sonja Gallhofer and Jim Haslam
This study explores the teaching of International Accounting on both undergraduate and postgraduate degrees in New Zealand in New Zealand's polytechnic and university sectors…
Abstract
This study explores the teaching of International Accounting on both undergraduate and postgraduate degrees in New Zealand in New Zealand's polytechnic and university sectors. Included in the study is an analysis of course outlines of international accounting courses from business and commerce faculties of the New Zealand tertiary sector. The paper compares the teaching of international accounting in New Zealand with that of the United Kingdom, Australia and the US. Results suggest that even though international accounting issues have been given significant prominence in accounting research as of late, there is a paucity of International Accounting education offered to New Zealand accounting students including in comparison with the UK, Australia and the US. Through our analysis and discussion we seek to engender a more critical review of international accounting education.
In all the debates and discussion papers on the accounting profession's proposed new rules for current cost accounting, the emphasis, not unnaturally, has been on the accountant's…
Abstract
In all the debates and discussion papers on the accounting profession's proposed new rules for current cost accounting, the emphasis, not unnaturally, has been on the accountant's and auditor's role in the implementation of the recommendations. Very few discussants have addressed themselves to the problems and issues which will confront the manager if the accounting profession decide to go ahead with current cost accounting; this article considers some of the major areas of corporate activity to which the manager will need to give attention.