Search results

1 – 10 of over 1000
Book part
Publication date: 20 March 2023

Berit Adam, Jens Heiling and Tim Meglitsch

The principle of prudence plays a critical role in the design of national and international public sector accounting. Whereas in private sector accounting there is a substantial…

Abstract

The principle of prudence plays a critical role in the design of national and international public sector accounting. Whereas in private sector accounting there is a substantial body of literature with regard to conservatism, the academic debate on the prudence principle in public sector accounting has only started recently. The aim of this chapter is to analyse whether the International Public Sector Accounting Standards (IPSASs) address asymmetric prudence with respect to measurement. This chapter shows that the existence of requirements leading to asymmetric prudence with regard to the measurement of assets is widespread throughout the suite of IPSASs.

Details

Measurement in Public Sector Financial Reporting: Theoretical Basis and Empirical Evidence
Type: Book
ISBN: 978-1-80117-162-5

Keywords

Book part
Publication date: 15 November 2021

C. Richard Baker and Martin E. Persson

This chapter explores the concept of prudence in accounting from several different perspectives. In particular, we discuss the elimination of prudence from the conceptual…

Abstract

This chapter explores the concept of prudence in accounting from several different perspectives. In particular, we discuss the elimination of prudence from the conceptual framework of the International Accounting Standards Board in 2010 and its reinstatement in 2018. We also explore the tension between a cautious view of prudence and an asymmetric view of prudence. Finally, we discuss historical debates concerning the concept of prudence in philosophy, legal theory, and economics. In specific terms, we address whether prudence constitutes a moral virtue or whether it is merely a technique for deciding between alternative courses of action. The primary argument of the chapter is that prudence has been an important moral virtue and a component of commercial and accounting practice throughout history, even though accounting standards setters have now relegated it to secondary importance.

Details

Historical Developments in the Accountancy Profession, Financial Reporting, and Accounting Theory
Type: Book
ISBN: 978-1-80117-805-1

Content available
Book part
Publication date: 20 March 2023

Abstract

Details

Measurement in Public Sector Financial Reporting: Theoretical Basis and Empirical Evidence
Type: Book
ISBN: 978-1-80117-162-5

Article
Publication date: 1 April 2004

Lisa Evans

The use of technical terms to communicate accounting information can lead to misunderstandings when the meaning of such terms is not fully appreciated by the recipient of the…

10429

Abstract

The use of technical terms to communicate accounting information can lead to misunderstandings when the meaning of such terms is not fully appreciated by the recipient of the information. The discipline of translation studies suggests that full equivalence in translation between languages is rare. This suggests that the risk of misunderstanding is exacerbated when technical terms are translated into another language. This paper examines the implications of mistranslations of technical terms in the context of theories from linguistics, which suggest that language influences the way we think. It uses three examples of accounting terminology to illustrate these problems. It concludes that the choice of an inappropriate label in the translation of accounting terminology is detrimental to international accounting communication and creates problems for users and preparers of translated financial statements as well as for researchers in, and students of, international accounting and for those involved in harmonisation and standardisation of accounting.

Details

Accounting, Auditing & Accountability Journal, vol. 17 no. 2
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 1 March 2003

Akhlaque Haque

Sparked by the September 11 event, ethnic and religious diversity in the American culture has opened a new dialogue about tolerance to foreign cultures and religions. Using…

Abstract

Sparked by the September 11 event, ethnic and religious diversity in the American culture has opened a new dialogue about tolerance to foreign cultures and religions. Using Burke’s views about morality and religious tolerance, this paper argues how ethical guidelines of public administrators ought to be sought from a universal moral law derived from natural principles and constitutional values of the regime. The argument focuses on Burkean prudence as a practical application of moral law and a guide for public administrators in a diverse global environment. Furthermore, it argues civil law to be inadequate in situations where the majority favors a particular opinion against a minority population. By acknowledging a universal moral law, public administrators can play a dual role as individuals building human relations in a diverse culture, and as public servants upholding Constitutional values to preserve the integrity of public institutions

Details

International Journal of Organization Theory & Behavior, vol. 6 no. 2
Type: Research Article
ISSN: 1093-4537

Book part
Publication date: 1 March 2012

Eva Heidhues and Chris Patel

Over the last decade, the accounting convergence process with the development and adoption of IFRS as national standards has become the focus of governments, professionals, and…

Abstract

Over the last decade, the accounting convergence process with the development and adoption of IFRS as national standards has become the focus of governments, professionals, and researchers. In 2005, the EU (including Germany) and Australia adopted IFRS. A survey by Deloitte Touche Tohmatsu (2010) reported that 89 countries have adopted or intend to adopt IFRS for all their domestic listed companies. Currently, more than 100 jurisdictions require or permit the use of IFRS, with countries such as Canada, Brazil, and Argentina being the most recent adopters (IFRS Foundation, 2011b). This growing number of countries implementing IFRS and their experiences and emerging challenges have further raised researchers' interest in this controversial topic (Ashbaugh & Pincus, 2001; Atwood et al., 2011; Byard et al., 2011; Christensen et al., 2007; Daske et al., 2008; Ding et al., 2007; Hail et al., 2010a, 2010b; Kvaal & Nobes, 2010; McAnally et al., 2010; Mechelli, 2009; Niskanen, Kinnunen, & Kasanen, 2000; Stolowy, Haller, & Klockhaus, 2001; Tyrrall et al., 2007). However, these studies have concentrated on the development and application of specific accounting standards and practices and/or cross-national and cross-cultural issues concerning adaptation, implementation, and evaluation of IFRS. Moreover, an increasing number of studies have been devoted to classifications of accounting models and categorization of accounting standards, principles, and values (Chanchani & Willett, 2004; D'Arcy, 2000, 2001; Doupnik & Richter, 2004; Doupnik & Salter, 1993; Gray, 1988; Kamla, Gallhofer, & Haslam, 2006; Nair & Frank, 1980; Patel, 2003, 2007; Perera & Mathews, 1990; Salter & Doupnik, 1992). However, very few studies have critically examined the historical development of accounting practices and issues related to convergence in its socioeconomic context and, importantly, we are not aware of any study that has rigorously examined the institutionalization of Anglo-American accounting practices as international practice with an emphasis on power and legitimacy in the move toward convergence of accounting standards.

Details

Globalization and Contextual Factors in Accounting: The Case of Germany
Type: Book
ISBN: 978-1-78052-245-6

Book part
Publication date: 7 December 2018

Alison Taysum and Khalid Arar

This chapter presents a comparative analysis of the English, Northern Irish, Arab Israeli, Trinidad and Tobago and the US cases. The focus is what we have learned from the…

Abstract

This chapter presents a comparative analysis of the English, Northern Irish, Arab Israeli, Trinidad and Tobago and the US cases. The focus is what we have learned from the research about: the relationships within Education Governance Systems to navigate turbulence; building capacity for empowering senior-level leaders to deliver on their manifestos and outstanding track records for school improvement; reducing the achievement gap between dominant groups and marginalised groups in International Governance Systems. The chapter identifies that all cases require participatory multi-stakeholder action to develop and support collaborative networked learning communities in practice. Such communities of and for practice need to Empower Young Societal Innovators for Equity and Renewal (EYSIER). Policy and Education Governance Systems have the potential to synthesise the best of what has been said and done in the past, with innovative ways of working by empowering networks of knowledge building and advocacy. These networks co-create opportunities for action learners to work together to describe intersectionalities of discrimination and begin to remove fear of discrimination and marginalisation from Education Governance Systems. From this position, senior-level leaders can work with their leaders, teachers, parents and students to optimise how learning about the self, and learning how to learn improves community education for all students and EYSIER.

Details

Turbulence, Empowerment and Marginalisation in International Education Governance Systems
Type: Book
ISBN: 978-1-78754-675-2

Keywords

Book part
Publication date: 20 March 2023

Josette Caruana, Marco Bisogno and Mariafrancesca Sicilia

This introductory chapter elaborates on the tricky issue of measurement in public sector financial reporting, which arises due to the particular features of the public sector when…

Abstract

This introductory chapter elaborates on the tricky issue of measurement in public sector financial reporting, which arises due to the particular features of the public sector when compared to the private sector. It provides a summary of the book chapters, highlighting the theoretical/practical frameworks used, methodologies and conclusions. Three themes are identified in the book, namely, (a) frameworks and methodologies; (b) measuring and reporting the elements in financial statements; and (c) heritage. This chapter identifies important avenues for further research.

Details

Measurement in Public Sector Financial Reporting: Theoretical Basis and Empirical Evidence
Type: Book
ISBN: 978-1-80117-162-5

Keywords

Article
Publication date: 16 January 2007

Dariusz Leśko

The purpose of this paper is to deal with the evolution of Polish financial reporting principles in its historical context, this providing the reader with basic understanding of

956

Abstract

Purpose

The purpose of this paper is to deal with the evolution of Polish financial reporting principles in its historical context, this providing the reader with basic understanding of what has been influencing the shape of Polish accounting rules and how they evolved from the communist times until the accession of Poland to the European Union. This in turn should help in understanding the way in which Polish corporate governance system has evolved.

Design/methodology/approach

The approach taken is a general review and analysis of the issues surrounding Polish accounting rules transition.

Findings

Throughout the transition period Polish financial reporting principles managed to successfully convert from socialistic to financial‐market oriented thus providing both financial managers and investors with a powerful governance tool.

Practical implications

Full understanding of the development of modern financial reporting principles, especially in the transition/emerging economies, is not possible without sound knowledge of the socio‐economic context of their formation.

Originality/value

Both business practitioners interested in collaboration with companies from Poland (or another transition country) as well as academics working on financial reporting/management issues in international setting should find the paper useful.

Details

Baltic Journal of Management, vol. 2 no. 1
Type: Research Article
ISSN: 1746-5265

Keywords

Article
Publication date: 1 May 2000

Yuan Ding

Provides an overview of accounting reform in China since 1993, illustrates the structure of the current (juridicial‐based) accounting system and lists the accounting standards…

2489

Abstract

Provides an overview of accounting reform in China since 1993, illustrates the structure of the current (juridicial‐based) accounting system and lists the accounting standards being developed. Contrasts historical Chinese accounting methods with current attempts at international harmonization and identifies some remaining peculiarities, e.g. the dominance of the state, limited application of the prudence principle etc. Criticizes the lack of coherance in accounting regulation and the failure of accounting practice to comply with accounting standards and auditing requirements.

Details

Managerial Finance, vol. 26 no. 5
Type: Research Article
ISSN: 0307-4358

Keywords

1 – 10 of over 1000