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Article
Publication date: 2 March 2015

Mark Edward Pickering

The purpose of this paper is to explore the implications on former accounting firm partners becoming employees of a publicly owned accounting corporation, the responses of…

Abstract

Purpose

The purpose of this paper is to explore the implications on former accounting firm partners becoming employees of a publicly owned accounting corporation, the responses of the former partners and impacts on the acquiring company. Partners of accounting and other professional service firms selling their firms to publicly owned companies often remain with the acquiring company as employees and receive company shares as consideration for their firms. Agency theory suggests public ownership will result in changes to the roles of senior professionals with potential resistance and motivation consequences.

Design/methodology/approach

This paper uses a case study approach involving the review of publicly available information and interviews with executives and senior professionals of an Australian publicly owned accounting company, Stockford Limited.

Findings

The Stockford case indicates that selling their firm to a publicly owned company can have significant negative implications for accounting firm partners. The former partners struggled to adapt to their new roles as senior professional employees and shareholders. Their responses had significant impacts on company performance, which ultimately contributed to the collapse of the company, thus reflecting the power senior professionals retain regardless of the change of ownership form.

Research limitations/implications

Care is required when generalising findings of a single case to other professions and other geographic jurisdictions.

Practical implications

This paper has significant implications for entrepreneurs and executives consolidating professional service firms, partners considering selling their firms and investors in publicly owned professional service firms.

Originality/value

Despite the emergence of publicly owned accounting and other professional service companies and the importance and power of senior professionals in professional service firms, this is the first study to explore the implications on senior professionals of selling their firms to public companies.

Details

Journal of Accounting & Organizational Change, vol. 11 no. 1
Type: Research Article
ISSN: 1832-5912

Keywords

Article
Publication date: 16 March 2012

Mark Edward Pickering

The purpose of this paper is to explore the company‐related benefits expected by executives of public accounting companies consolidating accounting practices and the…

Abstract

Purpose

The purpose of this paper is to explore the company‐related benefits expected by executives of public accounting companies consolidating accounting practices and the implications of these expectations for company performance.

Design/methodology/approach

This paper uses a case study approach involving the review of publicly available information and interviews with executives and senior professionals of two Australian, publicly‐owned accounting companies. Analysis of the financial performance of the two companies was performed using data from annual reports.

Findings

Executives predominantly expected to achieve revenue growth and efficiency benefits through consolidation and change in ownership form. In one of the cases these benefit expectations emerged over the course of the acquisition program. The paper highlights the difficulty in estimating and realising the magnitude, timing and associated costs of consolidation benefits and the consequences of failure to achieve expected benefits; also it suggests advantages in a more conservative consolidation approach.

Research limitations/implications

Care is required generalising findings to other professions and other geographic jurisdictions.

Practical implications

This paper has implications for entrepreneurs and executives consolidating professional service firms, partners considering selling their firms and investors in publicly‐owned professional service firms.

Originality/value

This is the first study to consider the benefits expected by executives of the recently emerged, publicly‐owned accounting companies and the associated costs of implementation. The paper highlights opportunities for researchers provided by the availability of data for publicly‐owned accounting and other professional service firms.

Article
Publication date: 1 August 1941

An interesting report has been submitted to the Brighton Watch Committee by Mr. T. J. Metcalfe, Chief Inspector of Weights and Measures. In his report Mr. Metcalfe…

Abstract

An interesting report has been submitted to the Brighton Watch Committee by Mr. T. J. Metcalfe, Chief Inspector of Weights and Measures. In his report Mr. Metcalfe observes that the Sale of Food (Weights and Measures) Act, 1926, which controls trading methods in connection with the sale of most articles of food, does not require that jams, marmalades, syrups or honey should be sold by weight and manufacturers and packers, with few exceptions, have not hitherto applied any weight statement to their prepacked products. Trading has generally been in standard sizes, referred to as “1's” and “2's,” and although most members of the public have understood that packs contain 1‐lb. or 2‐lb. net, no offence can be proved to have been committed when the seller makes no purportation of weight at the time of sale. The introduction of rationing has caused your Inspectors, in association with the Enforcement Officers of the Food Control Committee, to inquire more fully into the position which has developed. A purchaser is entitled to receive from the retailer with whom he is registered a maximum quantity of 2 ozs. of preserves per week. If the retailer, following the established practice, cancels eight ration coupons, hands over a jar of preserve and charges the maximum permitted price per pound, then there would appear to be prima facie evidence of a representation of weight of 1lb. Any deficiency would apparently constitute an offence by the retailer. As, however, the retailer could prove that he purchased the pack in the condition in which he sold it, that the manufacturer or packer should know the implications of the Rationing Order and the Sale of Food Act, and that the packer would strongly object to a retailer interfering with any prepacked preserve or syrup in such manner as might imperil the quality or brand repute of the product, it would appear that the retailer has an adequate defence. He could not, however, rely on a warranty, it not being the custom of the trade to mark a statement of weight on the jars, nor to insert a sufficient warranty in invoices. While the Board of Trade, under powers conferred by Section 9 (1) of the Act of 1926, can make a regulation bringing preserves within the First Schedule to the Act and thus requiring them to be sold only by net weight, this has never been done because manufacturers and packers have emphasised that there are practical difficulties, in my opinion not insurmountable, in guaranteeing the net weight content of a commodity packed gross in containers which may vary appreciably in tare weight. We have recently had evidence of deficiencies of ⅜ oz. and ¾ oz. in jars of golden syrup sold against eight ration coupons and for which the maximum permitted price per pound has been charged. The packers admit the possibility of such deficiencies and, while stating that they are doing their best to give 1lb. net weight they claim that no offence was committed against the Price Control Order in the case of the pack found to be ⅜ oz. short because the value of the shortage was not one farthing, nor was an offence committed against the Sale of Food Act because the deficiency in a single pack sold at the one time was inconsiderable. But the cumulative effect of such a deficiency in thousands of sales must be considerable and the loss to the purchasing public, in an article of food of which they receive so small a ration, is one of some gravity. In taking any legal proceedings for short weight under Section I of the Sale of Food Act, 1926, the Inspector is under an obligation to prove (a) that the deficiency was a considerable one, or (b) that inconsiderable deficiencies existed in a reasonable number of articles of the same kind sold or held for sale at the same time. It would be most undesirable for the Inspector, in seeking to establish proof of short weight, to interfere with, say, a dozen jars of preserves or syrups, having regard to the present supply position. It should not have to be necessary for the Inspector to have to rely on Section I standing alone. If the Board of Trade made a regulation under Section 9 (1) requiring such articles of food to be sold by net weight only, then the manufacturer or packer would need to guarantee the accuracy of weight content and he, I submit, is the person best able to ensure it.

Details

British Food Journal, vol. 43 no. 8
Type: Research Article
ISSN: 0007-070X

Book part
Publication date: 23 July 2016

Daniele Besomi

This chapter enquires into the contribution of two British writers, Herbert Somerton Foxwell and Henry Riverdale Grenfell, who elaborated upon the hints provided by Jevons…

Abstract

This chapter enquires into the contribution of two British writers, Herbert Somerton Foxwell and Henry Riverdale Grenfell, who elaborated upon the hints provided by Jevons towards a description of long waves in the oscillations of prices. Writing two decades after Jevons, they witnessed the era of high prices turning into the great depression of the last quarter of the nineteenth century, the causes of which they saw in the end of bimetallism. Not only did they take up Jevons’s specific explanation of the long fluctuations, but they also based their discussion upon graphical representation of data and incorporated in their treatment a specific trait (the superposition principle) of the ‘waves’ metaphor emphasized by the Manchester statisticians in the 1850s and 1860s. Their contribution is also interesting for their understanding of crises versus depressions at the time of the emergence of the interpretation of oscillations as a cycle, which they have only partially grasped – as distinct from the approach of later long wave theorists.

Details

Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78560-960-2

Keywords

Article
Publication date: 1 February 1974

Frances Neel Cheney

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here…

Abstract

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

Details

Reference Services Review, vol. 2 no. 2
Type: Research Article
ISSN: 0090-7324

Article
Publication date: 1 June 2002

George K. Chacko

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade…

2683

Abstract

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 14 no. 2/3
Type: Research Article
ISSN: 1355-5855

Keywords

Book part
Publication date: 17 October 2022

Jennifer Bonham and Barbara Koth

Walking and cycling have a long history in work itself and people travelling to and from work. Who walks and cycles, how they perform those journeys, the precise role that

Abstract

Walking and cycling have a long history in work itself and people travelling to and from work. Who walks and cycles, how they perform those journeys, the precise role that journey plays in the course of the working day and how it is valued are informed by social constructions of gender. Gendering of mobility has a long history and, in many countries, women continue to face challenges when they walk and they continue to be discouraged in more or less explicit ways from cycling. This exploratory chapter draws together literature on occupations, paid and unpaid, that involve walking and cycling as an integral part of collecting and delivering people and things. A wide variety of services are discussed in the literature but the research on the mode of travel for individual services – like food delivery, waste picking, rural health work, ‘mobility of care’ – is limited and there is little attention to gender. Further, any comparative studies tend to be between cities with similar economic status or cultural heritage. This chapter includes research from high, medium and low income countries not to universalise experiences but to identify common themes, and suggest avenues for further research. We argue the inequitable distribution of transport resources, the gendering of bicycling related skills and the masculinisation of public space are pervasive. However, they are also being challenged by women supporting each other, partners supporting wives and communities making opportunities available to all members.

Details

Women, Work and Transport
Type: Book
ISBN: 978-1-80071-670-4

Keywords

Article
Publication date: 1 August 1939

SEPTEMBER is the month when, Summer being irrevocably over, our minds turn to library activities for the winter. At the time of writing the international situation is…

Abstract

SEPTEMBER is the month when, Summer being irrevocably over, our minds turn to library activities for the winter. At the time of writing the international situation is however so uncertain that few have the power to concentrate on schemes or on any work other than that of the moment. There is an immediate placidity which may be deceptive, and this is superficial even so far as libraries are concerned. In almost every town members of library staffs are pledged to the hilt to various forms of national service—A.R.P. being the main occupation of senior men and Territorial and other military services occupying the younger. We know of librarians who have been ear‐marked as food‐controllers, fuel controllers, zone controllers of communication centres and one, grimly enough, is to be registrar of civilian deaths. Then every town is doing something to preserve its library treasures, we hope. In this connexion the valuable little ninepenny pamphlet issued by the British Museum on libraries and museums in war should be studied. In most libraries the destruction of the stock would not be disastrous in any extreme way. We do not deny that it would be rather costly in labour and time to build it up again. There would, however, be great loss if all the Local Collections were to disappear and if the accession books and catalogues were destroyed.

Details

New Library World, vol. 42 no. 2
Type: Research Article
ISSN: 0307-4803

Article
Publication date: 1 February 1938

THERE are now so many meetings of the Library Association and its branches and sections that the good custom of recording meetings and the discussions at them has fallen…

Abstract

THERE are now so many meetings of the Library Association and its branches and sections that the good custom of recording meetings and the discussions at them has fallen into desuetude. In a way it is a gain, for when the discussion was commonplace the account of a meeting became a mere list of those who attended and spoke, bones without flesh; but in the days when The Library Association Record really was a record, its reports were a part of the educational and informational material of every librarian. Something should be done about this, because 1938 opened with a series of meetings which all deserved the fullest report. The principal one was the investiture meeting of the President of the Library Association on January 17th. The attendance was greater than that at any meeting of librarians in recent years, of course other than the Annual Conference. Chaucer House was beautifully arranged, decorated and lighted for the occasion, an atmosphere of cheerfulness and camaraderie pervaded the affair. The speeches were limited to a few preliminary words by the retiring President, the Archbishop of York, before placing the badge on his successor's neck; a brief, but deserved panegyric of Dr. Temple's services by Mr. Berwick Sayers; and then a delightful acknowledgment from His Grace. The serious point the Archbishop made was his surprise at learning the wide extent of the library movement and his conviction that it must be of great value to the community. His lighter touch was exquisite; especially his story of the ceremonial key, which broke in the lock and jammed it when he was opening a library in state, and of his pause to settle mentally the ethical point as to whether he could conscientiously declare he had “opened” a place when he had made it impossible for anyone to get in until a carpenter had been fetched. Altogether a memorable evening, which proved, too, as a guest rightly said, that one cannot easily entertain librarians, but, if you get them together in comfortable conditions, they entertain themselves right well.

Details

New Library World, vol. 40 no. 7
Type: Research Article
ISSN: 0307-4803

Article
Publication date: 1 December 1939

The Twentieth Annual Report of the Chief Medical Officer of the Ministry of Health, Sir Arthur MacNalty, for the year 1938, begins with a review of the nature of progress…

Abstract

The Twentieth Annual Report of the Chief Medical Officer of the Ministry of Health, Sir Arthur MacNalty, for the year 1938, begins with a review of the nature of progress and the application of the conception to questions of health. Life in primitive society is not so healthy as is sometimes supposed, and the true condition is cloaked by the law of survival of the fittest. Civilisation has its cost; certain diseases follow in its train, e.g., tuberculosis. Besides the “new humanity” of the eighteenth century improvements in public health began to appear, and the population increased rapidly. Then came the progress of the Industrial Revolution, accompanied by new problems, especially in the domain of health. It can be concluded, however, that the growth of the health services, and the proof of their effectiveness as shown by the improvement of the nation's vital statistics, is real evidence of progress. In 1938 there was a rise of 10,647 births over the number registered in 1937, representing a birth rate of 15·1 per 1,000 living—a slight improvement on the rate of 14·9 for 1937. It is 0·7 above the rate for 1933, which was the lowest recorded. The infant mortality rate is 53 per 1,000 births as against 58 for 1937, and is now the lowest on record. The deaths in 1938 were 478,829, as compared with 509,574 in 1937, a decrease of 30,745. The five principal killing diseases remain the same as for many years past and occur in the same order, viz.:— (1) Diseases of the heart and circulatory system; (2) cancer—malignant disease; (3) bronchitis, pneumonia and other respiratory diseases; (4) diseases of the nervous system; (5) all forms of tuberculosis. If, however, the diseases are re‐arranged to show the principal killing diseases operating during the years of working life—15–65—then tuberculosis takes the third place instead of the fifth, and diseases of the nervous system occupy the fifth place.

Details

British Food Journal, vol. 41 no. 12
Type: Research Article
ISSN: 0007-070X

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