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Article
Publication date: 1 February 1993

Richard Dobbins

Sees the objective of teaching financial management to be to helpmanagers and potential managers to make sensible investment andfinancing decisions. Acknowledges that financial…

6362

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.

Details

Management Decision, vol. 31 no. 2
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 1 May 1987

1.1 What Are Accounts For? Overview The purpose of accounts is to reveal performance in the conduct of a business or other activity concerned with use of economic resources (e.g…

Abstract

1.1 What Are Accounts For? Overview The purpose of accounts is to reveal performance in the conduct of a business or other activity concerned with use of economic resources (e.g. a club). It is thus a matter of stewardship. Although, like economics, it is necessary in accounting to use money as a measure of performance, it is concerned with the individual organisation rather than with economic phenomena as a whole.

Details

Management Decision, vol. 25 no. 5
Type: Research Article
ISSN: 0025-1747

Article
Publication date: 1 February 1982

The Companies Act 1981 introduced some significant changes which dramatically affect the accounts of companies in terms of format, contents and accounting rules. This guide…

Abstract

The Companies Act 1981 introduced some significant changes which dramatically affect the accounts of companies in terms of format, contents and accounting rules. This guide attempts to cover the main provisions of the Act in a clear and concise manner.

Details

Managerial Law, vol. 24 no. 2
Type: Research Article
ISSN: 0309-0558

Keywords

Article
Publication date: 1 January 1977

A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that…

2045

Abstract

A distinction must be drawn between a dismissal on the one hand, and on the other a repudiation of a contract of employment as a result of a breach of a fundamental term of that contract. When such a repudiation has been accepted by the innocent party then a termination of employment takes place. Such termination does not constitute dismissal (see London v. James Laidlaw & Sons Ltd (1974) IRLR 136 and Gannon v. J. C. Firth (1976) IRLR 415 EAT).

Details

Managerial Law, vol. 20 no. 1
Type: Research Article
ISSN: 0309-0558

Article
Publication date: 1 July 1991

Albert Galway

The methodology of process cost accounting is set out in astep‐by‐step format. This is a technique used when operations are notundertaken on a discrete, job‐by‐job basis.

1036

Abstract

The methodology of process cost accounting is set out in a step‐by‐step format. This is a technique used when operations are not undertaken on a discrete, job‐by‐job basis.

Details

Management Decision, vol. 29 no. 7
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 1 April 2001

Timothy Eccles and Andrew Holt

The paper proposes to outline the rules, regulations and generally accepted accounting principles that must be followed when recognising and valuing property in UK financial…

Abstract

The paper proposes to outline the rules, regulations and generally accepted accounting principles that must be followed when recognising and valuing property in UK financial statements. Its aim is to give the professional surveyor or corporate real estate adviser a clear understanding of the underlying principles involved and also the rules and conventions that must be followed. A plethora of new regulations has led to a range of new practices that must be understood by those advising upon corporate property matters. Not least of the reasons are the direct effects property matters now have upon balance sheets and profit and loss accounts. The aim of this paper is to offer corporate real estate managers an overview of the accounting framework in which they must offer advice to businesses. Traditionally, non‐property companies have tended to relegate property matters to advisers, who found themselves excluded from the key strategic decision‐making processes of the company, despite the large amounts of capital frequently tied up in their premises. The rise of facilities management and new forms of serviced office structure began to increase awareness of the issue. However, recent changes to accounting standards by the Accounting Standards Board (ASB) will impact directly upon the balance sheet and profit and loss account. In short, property issues directly impinge upon a business’s ability to report profits. Even so, relatively few property‐related views were put forward as part of the consultation process in the creation of these new standards. The area that has achieved most notice recently has been desire for accurate and consistent valuation and depreciation of assets ‐ including the management and maintenance of properties, and the selection of the property valuer. The basic premise behind such changes was to make accounts more visible and to demand clear logic and rationality of sensible business decisions. The paper deals solely with firms operating as manufacturers or service providers, with no interest in their property except as a place to do business, and an asset held as part of that business. Neither investment properties nor leased properties are discussed here, for reasons of space.

Details

Journal of Corporate Real Estate, vol. 3 no. 2
Type: Research Article
ISSN: 1463-001X

Keywords

Article
Publication date: 15 February 2008

Tung‐Hsiang Chou, John A. Vassar and Binshan Lin

This paper seeks to develop an ontological approach, in order to make it possible to share a common understanding of accounting theory, in this case, the specific structure of the…

1779

Abstract

Purpose

This paper seeks to develop an ontological approach, in order to make it possible to share a common understanding of accounting theory, in this case, the specific structure of the profit and loss account among people or software agents.

Design/methodology/approach

This paper presents an ontology methodology (the Net technique) which represents a semi‐structured element in the domain knowledge of accounting. More specifically, ontology will be used to explain the profit and loss account as a representation of the potential use of this methodology.

Findings

To support ontology effectively, a strong accounting information support system in the organization is necessary. The ontology may be used by employees to navigate the information repository of an organization for the effective coordination. In addition, it might be possible for the WWW to be used to generate data, information and knowledge in the accounting domain.

Practical implications

Software agents could extract and aggregate accounting information from numerous web sites, which in turn might answer research questions or be used as input data for other applications.

Originality/value

The development of ontology expands the researcher's ability to generate information by using search methods beyond simple keywords. If only keywords are used in internet searches, then information that is retrieved will often lack the precision necessary for generating quality information. Therefore, in order to retrieve quality information more quickly and accurately, a broader and more extensive ontology development is required.

Details

Kybernetes, vol. 37 no. 1
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 31 December 2007

Musa Magena, Russell Kinman and David Citron

This paper provides insight into the importance of interim reports of UK listed companies to investment analysts. The primary objective of financial reporting is assumed to be the…

Abstract

This paper provides insight into the importance of interim reports of UK listed companies to investment analysts. The primary objective of financial reporting is assumed to be the provision of information to help investors make rational investment decisions. In this study, a survey of financial analysts and fund managers was undertaken to determine their perception of the importance of 113 items disclosed in interim reports. The main findings demonstrate that both financial analysts and fund managers perceive disclosure items in the profit and loss account and cash flow statement sections as the most important. Additionally, the results show that there are similarities between financial analysts and fund managers with regard to the relative usefulness of items in the profit and loss account, balance sheet, cash flow statements and accounting policies and notes. However, significant differences exist between the two groups with respect to management commentary information. Overall, the conclusion that can be drawn from these results is that increased disclosure in interim reports is useful to investment analysts. These findings are important for policy‐makers and companies as the views of investment analysts (as users of financial reports) are essential in the attempt to improve disclosure.

Details

Journal of Applied Accounting Research, vol. 8 no. 3
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 1 November 2001

Alpa Dhanani

According to academics, the translation form of exchange rate risk does not affect the market value of a firm and as a result should not be managed by corporate managers. Research…

1206

Abstract

According to academics, the translation form of exchange rate risk does not affect the market value of a firm and as a result should not be managed by corporate managers. Research to date, however, suggests that many multinational companies (MNCs) actively monitor and manage their translation exchange risk. Thus, either corporate management fail to understand the irrelevant nature of this risk or there are other factors that need to be considered. This paper extends the current literature by examining these issues; in particular, it examines whether MNCs continue to manage their translation exchange rate risk and if so what their reasons are for the specific practices. Results suggest that the gearing ratio, itself a measure of risk, is largely responsible for the management of the translation process. Further, some companies seek to manage their ‘profit and loss translation exchange risk,’ a ‘risk’ resulting from the impact of the translation process on the profit and loss account. Preferred management strategies include the currency denomination of debt and use of financial instruments such as forward contracts. Capital market imperfections reflected in binding loan covenants, agency theory problems and the assumption of inefficient market behaviour explain the observed corporate management behaviour.

Details

Journal of Applied Accounting Research, vol. 6 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 1 January 1978

The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act…

1363

Abstract

The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act (which has been amended by the Sex Discrimination Act 1975) provides:

Details

Managerial Law, vol. 21 no. 1
Type: Research Article
ISSN: 0309-0558

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