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At the end of this session, learners should be able to:

• Understand why interpretation of financial statements is necessary.

• Calculate accounting ratios for profitability, liquidity, efficiency, capital structure and investors.

• Utilise ratio analysis to critically appraise an organisation’s published financial statements.

• Explain the limitations of ratio analysis.

Understand why interpretation of financial statements is necessary.

Calculate accounting ratios for profitability, liquidity, efficiency, capital structure and investors.

Utilise ratio analysis to critically appraise an organisation’s published financial statements.

Explain the limitations of ratio analysis.

The study critically evaluates the theory of International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Using the extensive structured review of literature using the Scopus database tool, the study reviewed 79 articles, and in particular the topic-related 57 articles were analysed. Nine journals contribute to 51% of articles (29 of 57 articles). In particular, the three journals published 15 articles: Critical Perspectives on Accounting (7), Accounting, Organizations and Society (4), and Journal of Applied Accounting Research (4). In total, 83% (47 of 57) of the articles were published 2009–2018. A total of 1,168 citations were found from 45 articles since 12 articles were without citations. The highest cited authors were Ball (2006) – 410 citations, Kothari, Ramanna, and Skinner (2010) – 135 citations, and Napier (1989) – 85 citations. In particular, five theories have been used widely: institutional theory (13), accounting theory (6), agency theory (3), positive accounting theory (3), and process theory (2). Future studies’ focus could be on theory implications in IFRS adoption/implementation studies in a country or a group of countries’ experience. Future studies could also focus on various theories rather depending on a single theory (i.e. institutional theory).

There has been increasing engagement with Annual General Meetings (AGMs) in the UK during the past decade by both private investors and protesters. At the same time, proposals have been mooted to allow companies to not hold such meetings. When examined from an agency theory perspective, AGMs appear largely redundant. This paper reports a qualitative investigation of such meetings and considers their relevance both as sites for the expression of stakeholder issues and also as a means for management to (re)confirm their power and status. The paper utilises Lukes (1974) three‐dimensional model of power as an alternative to the conceptualisation of power inherent in agency theory as a means of analysing the dynamics of power at AGMs

The aim of the chapter is to focus on the connections between three types of actors who build the new world of brands – consumers, marketers, and financier – by focusing on the co-creation of value between the brand community and the company owning the brand.

The chapter use three case vignettes to highlight the dual process at play when a community of consumers co-create brand value.

The chapter not only highlights a value-creating trajectory for companies but also shows how a reverse process can destroy value for the very same companies. It suggests that marketers’ desire to maximize the value co-created between the company and the community in order to answer the financial requirement of brand valuation could damage the value co-creation process. According to our case vignettes’ results, these marketers are exposing themselves to the risk that consumers/fans will rebel as a result of this branding maximization, leading in return to the creation of a competitor in the form of a community brand.

Future research will have to investigate how by cutting across organizational boundaries and functional areas, brand communities would reshape the marketing–finance interface.

The chapter stresses the need for companies to manage carefully the triadic relationship community/marketing/finance in order to avoid the development of a reverse brand value destruction process. In addition, the chapter contributes to research on the marketing–finance interface by highlighting the need to look beyond this level of interaction when it comes to branding.

Starting with the principle that consumers grouped into communities are increasingly responsible for making brands through their value-creating practices, the chapter highlights the problems raised by the company’s will to transform them into value for shareholders.

This paper analyses the media ownership of professional sports teams. The theory of vertical integration is used to identify internal efficiency gains, lower uncertainty and increased market power as general explanations. The industryspecific reasons are examined, particularly the importance of securing access to broadcasting rights. The potential implications for teams, leagues and fans are discussed. It is suggested that media ownership of teams may undermine the sporting and financial viability of leagues thus necessitating intervention by sports administrators and government regulators.

The objective of this study aims at reviewing a synthesis of the economic impact of the implementation of International Financial Reporting Standards (IFRS) in an attempt to provide directions for future research. There are significant evidences of adopting a high-quality set of harmonised accounting standards (i.e. IFRS) fosters trade and foreign direct investment (FDI), financial transparency, and comparability and reduces information asymmetries. From the extensive structured review of literature using the Scopus database tool, the study reviewed 108 articles, and in particular, the topic-related 41 articles were analysed. Seven journals contribute to 39% of the articles (The Accounting Review; European Accounting Review; International Journal of Accounting; Journal of Accounting Research; Revista Espanola de Financiacion y Contabilidad; Asian Review of Accounting; and International Journal of Economics and Management). However, most of the cited journals were Journal of Accounting Research, The Accounting Review, European Accounting Review, and International Journal of Accounting (Armstrong, Barth, Jagolinzer, & Riedl, 2010; Brüggemann, Hitz, & Sellhorn, 2013; Christensen, Lee, & Walker, 2007; Daske, Hail, Leuz, & Verdi, 2008, 2013). Most of the studies did not use any theory, and most of the articles utilised quantitative approach. The study calls for future research on the theoretical impactions on the economic impact of IFRS implementation in a country-specific study, cross-country study, and global study. Future studies should also focus on the policymaking agenda for the local and international standard setters.

The purpose of this study is to analyse how professional football clubs have attained success with internationalisation and branding strategies in foreign markets.

Based on an inductive approach, 27 semi-structured interviews were conducted to analyse the perceptions of Ghanaian fans of four English Premier League teams.

The findings of this study highlight that the strength of professional football brand equity is jointly determined by the level of brand awareness, brand loyalty and perceived quality. However, increasing competition in international markets require professional football clubs to clearly define their marketing strategies to improve how fans perceive them.

This paper is one of the few studies to use country-of-origin paradigm and signalling theory to explain football brand equity building, thereby extending the earlier work of Chanavat and Bodet (2009). Its empirical focus on Africa is also unique and provides evidence to suggest that global marketers have the opportunity to capitalise on market expansion opportunities in developing economies.

The overall aim of this study is to improve our understanding of the strength of attraction factors of professional football club brands with foreign fans, and of the influence of demographics and individual characteristics on the influence of these factors in the context of sport spectatorship services.

This research was based on a quantitative study surveying 1,160 Chinese fans of English Premier League clubs and its results were produced through exploratory and confirmatory factor analyses. They identify the relative importance of 21 organisation– (e.g. star players, charismatic managers, team kits, partnerships and alliances, etc.), market and environment– (e.g. peer influence, TV coverage, etc.), and experience– (e.g. personal bonds, past attendance, etc.) induced service brand attraction points that were categorised into six main factors: star players, on-the-field performance, brand identity, marketing and merchandising, localism and experience.

Organisation-induced factors are the most important club brand attraction factors for Chinese fans. ANOVA analysis showed that demographic (i.e. gender, age, and education) and individual (i.e. brand identification and loyalty levels) characteristics influence the importance of attraction factors for fans. For instance, fans who had previously supported a different club brand rated the marketing and merchandising dimensions lower, localism higher, on-the-field performance lower and brand identity lower than those who had always supported the same club.

These results emphasise the importance of segmentation when considering consumer attraction to professional sport brands. They also provide specific practical knowledge that is useful when expanding into new foreign markets.

There is debate and controversy about the use of branding in sport. Often, fans show loyalty to their club that many brands could only dream of, and a key argument of previous research is that supporters do not like to think of their club in commercial terms, as a brand. However, the authors argue that in today's environment fans have pragmatic attitudes towards the necessity of branding and its importance in the future success of their clubs. Thus this paper aims to develop and test a model conceptualising the relationship between supporters' emotional attachment, supporters' brand perception/strength and their support for brand extension.

In‐depth interviews with, players, clubs' officials and supporters, leading to the design of a survey instrument completed by 842 supporters of two professional Norwegian football clubs.

The model confirms that fans that have a strong emotional attachment to their club have a stronger perception of the club as a brand and support brand extension.

This is a one‐country study.

Club management needs to be careful when extending its brand. Brand extension must be designed to reflect the heritage and tradition of the club. Also, club management needs to show in brand extension an element of competitiveness, which improves brand image, strengthens supporters' belief in their club and attracts new supporters.

The authors provide new evidence which contradicts existing theory. The study challenged the widely accepted argument that supporters of football clubs are likely to disapprove of and reject the thought of their favourite football club as a brand.