To see the other types of publications on this topic, follow the link: Government Accounting Standards Board (GASB).
Journal articles on the topic 'Government Accounting Standards Board (GASB)'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Government Accounting Standards Board (GASB).'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Shaffer, Raymond J., Kevin T. Stevens, and William P. Stevens. "Assessing the Readability of Government Accounting Standards: The Cloze Procedure." Journal of Technical Writing and Communication 23, no. 3 (July 1993): 259–67. http://dx.doi.org/10.2190/4fm2-8gbw-kh0y-n25t.
Full textAbstract:
Studies assessing the readability of business writing typically use either readability formulas or, less often, the cloze procedure. This study argues that the cloze procedure, rather than a formula, is the appropriate method of assessing the readability of business writing and uses the cloze procedure to determine the readability of a statement issued by the Governmental Accounting Standards Board (GASB). The GASB provides authoritative statements on the accounting required for local and state governments and agencies. The results indicate that one important GASB statement is unreadable by college-level readers. If this and other GASB statements are unreadable by the users of GASB pronouncements, the GASB may not be fulfilling its role of communicating governmental accounting principles.
2
Patton, Terry K., and Paul D. Hutchison. "HISTORICAL DEVELOPMENT OF THE FINANCIAL REPORTING MODEL FOR STATE AND LOCAL GOVERNMENTS IN THE UNITED STATES FROM LATE 1800s TO 1999." Accounting Historians Journal 40, no. 2 (December 1, 2013): 21–53. http://dx.doi.org/10.2308/0148-4184.40.2.21.
Full textAbstract:
This study examines the historical development of the financial reporting model for state and local governments in the United States from the late 1800s through the issuance by the Governmental Accounting Standards Board (GASB) of Statement No. 34 in 1999. This research shows how the current governmental reporting standard evolved over time to meet diverse user needs by presenting both government-wide and fund statements, and requiring three governmental operating statements with potentially three different measurement focuses: the Statement of Activities; the Statement of Revenues, Expenditures, and Changes in Fund Balances; and the Budgetary Comparison Schedule. Overall, this historical study provides unique insights about the development of the governmental reporting model and an appreciation for the reporting requirements of GASB Statement No. 34.
3
Kidwell, Linda, and Suzanne Lowensohn. "Stakeholder participation in the governmental accounting standard-setting process." Journal of Public Budgeting, Accounting & Financial Management 30, no. 2 (June 4, 2018): 252–68. http://dx.doi.org/10.1108/jpbafm-02-2018-0019.
Full textAbstract:
Purpose Accounting standards are issued only after a comprehensive due process, which includes opportunities for external constituents to participate via public hearings and comment letters. The purpose of this paper is to identify stakeholders unique to government and evaluate the extent to which they respond to 13 due process documents issued by the Governmental Accounting Standards Board (GASB). The results provide insight into the comment letter element of due process – who participates, in what way do they participate, and why do they participate? Design/methodology/approach Comment letters received by the GASB in response to eleven exposure drafts and three preliminary views (PV) documents from 2010-2013 were examined, and respondents were categorized according to Cheng’s (1994) model as modified by Kidwell and Lowensohn (2011), resulting in the following 16 participant types: academics, budget officers, bureaucratic managers, state auditors/controllers, citizens, financial markets, elected officials, external auditors/CPA firms, finance officers, government accountants, government auditors, interest groups, media, professional associations, standard setters, and other governments. The authors next examined responses in favor of and opposed to for each document by group and responses by stakeholder group over time. Findings The authors find that participants came from various stakeholder groups. Consistent with findings in different standard-setting environments, the primary financial statement preparers – finance officers – were the most frequent individual respondents; however, there was participation from a wide variety of stakeholders. Responses are generally constructive and relatively consistent in their balance of favorable and unfavorable feedback over time, with a few exceptions. Closer examination of comment letters in response to the financial projections PV document reveals both conceptual and practical considerations underlying respondent participation. Research limitations/implications Motivations for participation were discerned from the letter content, but direct data on motivation was not measured, limiting the conclusions to apparent motivation. Future research might examine the extent to which comment letter content is incorporated into the basis of conclusions section of issued standards to assess the direct impact of comment letters on the governmental accounting standard-setting process. It would also be relevant to trace specific projects that advanced from a PV stage to the exposure draft stage to assess whether the proportional participation of these stakeholder groups is different throughout due process. Practical implications The GASB has long been receptive to constituent feedback (Lowensohn, 2000) and can glean useful input from comment letters. By closely examining arguments impounded within comment letters, including conceptual and practical considerations, and by utilizing a more delineated understanding of the stakeholders in governmental accounting standard setting, the Board can better forge into the future. Originality/value Much of the extant research documents that stakeholder participation is relatively low, given the number of parties affected by accounting standards. Prior research into both public and private sector accounting standard setting in the USA and abroad has not used all unique actors specific to the public sector. Using a comprehensive stakeholder model designed for the governmental environment, the authors examine who participates in the GASB comment letter process, assess the nature of GASB comment letter participant responses, determine whether relative participation by stakeholder group is relatively constant over time, and consider why the participants respond.
4
Propheter, Geoffrey. "Towards enhancing tax abatement transparency: Reviewing the promises and limitations of GASB 77." Journal of Public Budgeting, Accounting & Financial Management 29, no. 4 (March 1, 2017): 439–63. http://dx.doi.org/10.1108/jpbafm-29-04-2017-b001.
Full textAbstract:
AbstractIn August 2015, the Government Accounting Standards Board (GASB) adopted Statement 77, requiring government disclosure in audited financial reports of a particular type of tax expenditure, tax abatements. GASB's reporting standards move tax abatements from a budgetary environment to an accounting environment. This paper evaluates GASB 77's provisions to encourage an early and on-going dialogue about the Statement's prospects for achieving greater transparency compared to existing tax expenditure reporting efforts. We conclude that GASB 77 will be most beneficial to consumers of financial information in medium and large jurisdictions where there is no alternative tax abatement disclosure platform, or where the alternative offers less transparency than what can be achieved through financial reporting.
5
Plummer, Elizabeth, Paul D. Hutchison, and Terry K. Patton. "GASB No. 34's Governmental Financial Reporting Model: Evidence on Its Information Relevance." Accounting Review 82, no. 1 (January 1, 2007): 205–40. http://dx.doi.org/10.2308/accr.2007.82.1.205.
Full textAbstract:
This study uses a sample of 530 Texas school districts to investigate the information relevance of governmental financial statements published under Governmental Accounting Standards Board Statement No. 34 (GASB No. 34). Specifically, we examine whether the new government-wide statements provide information relevant for assessing a government's default risk, and if this information is incremental to that provided by the governmental funds statements. GASB No. 34 requires governments to publish governmental funds statements prepared on a modified accrual basis, and government-wide statements prepared on an accrual basis. We find that GASB No. 34's Statement of Net Assets (similar to a corporation's balance sheet) provides information relevant for assessing default risk, and this information is incremental to that provided by the governmental funds statements. However, GASB No. 34's Statement of Activities (similar to a corporation's income statement) does not provide information relevant for assessing default risk. The accrual “earnings” measure is not more informative than the modified-accrual “earnings” measure. A government's modified accrual earnings measure can be thought of as a type of measure of changes in working capital. Therefore, our results are consistent with research on corporate entities that attributes the superiority of earnings over cash flows primarily to working capital accruals and not long-term accruals. For our sample of school districts, evidence suggests that total net assets from the government-wide Statement of Net Assets, along with a measure of modified-accrual “earnings” from the governmental funds statement, provide the best information for explaining default risk.
6
Kinnersley, Randall L. "THE DEVELOPMENT OF THE TOTALS COLUMN ON THE COMBINED BALANCE SHEET FOR STATE AND LOCAL GOVERNMENTS IN THE UNITED STATES DURING THE 20th CENTURY." Accounting Historians Journal 43, no. 1 (June 1, 2016): 33–57. http://dx.doi.org/10.2308/0148-4184.43.1.33.
Full textAbstract:
This study examines the historical development during the 20th century of the totals column reported on the financial statement that reported assets, liabilities, and equity for all funds of state and local governments (SLGs) within the United States. This research documents the evolution of accounting standards that addressed the totals column. SLG accounting professionals and standards-setters debated whether it was appropriate for SLGs to report a combined totals column throughout the century. The totals column was optional or forbidden in some reporting standards. Other SLG standards permitted a totals column, but always with reservation. A consolidated totals column was never acceptable until Governmental Accounting Standards Board (GASB) Statement 34. Statement 34, issued in 1999, required SLGs to report all primary government funds in a single consolidated totals column on a new Statement of Net Assets. The Statement of Net Assets was the first time users were able to assess the financial position of the SLG primary government in a single consolidated column. This study provides the historical developments that led to this major revision in SLG financial reporting.
7
Dewan, Shameem A., and Roger E. Smith. "Modifying Local Agency Pavement Management System to Support Governmental Accounting Standards Board 34 Requirements." Transportation Research Record: Journal of the Transportation Research Board 1819, no. 1 (January 2003): 15–23. http://dx.doi.org/10.3141/1819a-04.
Full textAbstract:
The Metropolitan Transportation Commission pavement management system (MTC PMS) has been used by many cities and counties in the United States for more than 15 years. MTC PMS was evaluated to determine the extent to which the software can support the Governmental Accounting Standards Board (GASB) 34 reporting requirements, established in 1999. A local agency PMS can take information from a pavement network database to produce useful reports, which can be utilized jointly with the information from other assets managed by an agency to support the requirements for a comprehensive asset management system and other reporting requirements. The objective of this study was to elaborate GASB 34 requirements for reporting infrastructure assets, examine the capabilities of MTC PMS in supporting those standard requirements, and recommend any modifications of MTC PMS needed to better support GASB 34. It is evident from the study that MTC PMS has the capability, to some extent, of supporting GASB 34 for reporting on a pavement network according to both the GASB 34 reporting methods: the depreciation method and the modified approach. It partially supports the prerequisites for using the modified approach, which require that the managing agency have an asset management system with certain designated characteristics. Some modifications of MTC PMS software were proposed to make this management system more effective as a tool supporting an asset management system and overall GASB 34 requirements.
8
Keating, Elizabeth K., and Eric S. Berman. "Unfunded Public Employee Health Care Benefits and GASB No. 45." Accounting Horizons 21, no. 3 (September 1, 2007): 245–63. http://dx.doi.org/10.2308/acch.2007.21.3.245.
Full textAbstract:
The Government Accounting Standards Board (GASB) recently released Statement No. 45, Accounting and Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions and its companion Statement No. 43 for pooled stand-alone health care plans, which will profoundly affect American governmental finance. The goal of this article is to encourage governments to consider carefully a full range of options in funding and restructuring other post-employment benefits (OPEB). This article will review Statement No. 45's potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The article will discuss the statement's impact on budgets and governmental operations, including collective bargaining. Funding options under Statement No. 45 will be detailed, including the advantages and disadvantages of irrevocable trusts and OPEB bonds. The article will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. As the largest government entities are just now implementing GASB Statement No. 45, estimates of the magnitude of unfunded OPEB liabilities are limited as are the strategies likely to be adopted to cover these obligations. This article offers a summary of the unfunded OPEB liabilities reported by states and major cities and suggests some measures for assessing the ability of these entities to address these costs.
9
Mortimer, John W., and Linda R. Henderson. "Measuring Pension Liabilities under GASB Statement No. 68." Accounting Horizons 28, no. 3 (March 1, 2014): 421–54. http://dx.doi.org/10.2308/acch-50710.
Full textAbstract:
SYNOPSIS While retired government employees clearly depend on public sector defined benefit pension funds, these plans also contribute significantly to U.S. state and national economies. Growing public concern about the funding adequacy of these plans, hard hit by the great recession, raises questions about their future viability. After several years of study, the Governmental Accounting Standards Board (GASB) approved two new standards, GASB 67 and 68, with the goal of substantially improving the accounting for and transparency of financial reporting of state/municipal public employee defined benefit pension plans. GASB 68, the focus of this paper, requires state/municipal governments to calculate and report a net pension liability based on a single discount rate that combines the rate of return on funded plan assets with a low-risk index rate on the unfunded portion of the liability. This paper illustrates the calculation of estimates for GASB 68 reportable net pension liabilities, funded ratios, and single discount rates for 48 fiscal year state employee defined benefit plans by using an innovative valuation model and readily available data. The results show statistically significant increases in reportable net pension liabilities and decreases in the estimated hypothetical GASB 68 funded ratios and single discount rates. Our sensitivity analyses examine the effect of changes in the low-risk rate and time period on these results. We find that reported discount rates of weaker plans approach the low-risk rate, resulting in higher pension liabilities and creating policy incentives to increase risky assets in pension portfolios.
10
Blouin, Jennifer L., and Leslie A. Robinson. "Insights from Academic Participation in the FAF's Initial PIR: The PIR of FIN 48." Accounting Horizons 28, no. 3 (March 1, 2014): 479–500. http://dx.doi.org/10.2308/acch-50761.
Full textAbstract:
SYNOPSIS In 2009, the Financial Accounting Foundation (FAF) determined that the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) standard setting process required a formal review to monitor and address issues that can arise after the implementation of accounting standards. The FAF selected FASB Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes, as the initial post-implementation review (PIR) standard. This paper informs the academic community about the PIR process and provides an academic perspective on the initial PIR of FIN 48. In particular, we demonstrate the role of the academic literature using the FIN 48 literature review prepared as part of the PIR process.
11
Kim, Jiseul, Can Chen, and Carol Ebdon. "Effects of the GASB No. 34 infrastructure reporting standards on state highway infrastructure quality." Journal of Public Budgeting, Accounting & Financial Management 30, no. 2 (June 4, 2018): 191–210. http://dx.doi.org/10.1108/jpbafm-06-2018-027.
Full textAbstract:
Purpose The purpose of this paper is to evaluate whether the additional infrastructure information in US state financial statements improves infrastructure quality. Design/methodology/approach Based on institutional theory, the authors developed six models and estimated them on a state panel data set. Findings The authors found that the implementation of the Government Accounting Standard Board (GASB) Statement No. 34 improved state highway infrastructure quality, and the states using the modified approach had a larger effect compared to the states using depreciation accounting. The authors further used a two-step path analysis and found that the implementation of GASB 34 indirectly improved highway quality through increasing state highway maintenance expenditures. From the empirical results, the authors conclude that the exercise of collecting and developing systems to track the additional data has provided the opportunity for officials to use the information to prioritize limited funding and improve their asset management practices. Practical implications Future research may extend this research by exploring the detailed micro-mechanisms of how decision makers use infrastructure information in their asset management practices, as well as by increasing the number of years in the panel data set to fully capture changes in behavior. Social implications In addition, governments currently using depreciation should be encouraged to move to the modified approach. Originality/value This is the first attempt to empirically examine the effects of GASB 34 on infrastructure condition.
12
Pridgen, Annette K., and W. Mark Wilder. "Relevance of GASB No. 34 to Financial Reporting by Municipal Governments." Accounting Horizons 27, no. 2 (December 1, 2012): 175–204. http://dx.doi.org/10.2308/acch-50377.
Full textAbstract:
SYNOPSIS The Governmental Accounting Standards Board issued Statement No. 34, creating a new accrual-based financial reporting model. This study examines whether information from this model is associated with the default risk (a proxy for fiscal distress) of municipal governments and whether this information is incremental to that provided by the fund-based, modified-accrual reporting model. Ordered logistic regressions are used to analyze financial data from 2005 for a sample of 409 municipalities that participated in the Government Finance Officers Association award program. This study extends the work of Plummer et al. (2007) to municipal governments. In addition to the financial position indicator variable (total net assets/total revenues) examined by Plummer et al. (2007), this study provides evidence of the relevance of three other financial indicators (change in net assets/total net assets; total liabilities/total assets; and current assets/current liabilities). We also find that these accrual-based indicators provide information incremental to the fund-based model and that one fund-based measure (total fund balances/total fund revenues) also provides information incremental to the accrual indicator. These results are consistent with perceptions of regulators and others who expect accrual accounting to be a better measure of the economic costs of running a government than the traditional fund-based model. Data Availability: Contact the authors.
13
Marshall, Dara, Mary L. Fischer, Renee Flasher, Amy Foshee Holmes, Carol M. Jessup, and Louella Moore. "Response to the GASB Invitation to Comment on Financial Reporting Model Improvements—Governmental Funds (Project No. 3-25I)." Journal of Governmental & Nonprofit Accounting 7, no. 1 (November 1, 2018): 87–96. http://dx.doi.org/10.2308/ogna-52325.
Full textAbstract:
ABSTRACT The Governmental Accounting Standards Board (GASB) has been actively engaged in the process of making improvements to the financial reporting model to provide more useful information to the users of the financial reports of governmental entities. The GASB proposed three recognition approaches to replace the current financial resources reporting model for governmental funds. The three approaches vary along a time dimension. The “near-term” model is the most similar to the current model with a specified reporting period of 60–90 days. A “short-term” model extends the transaction reporting to be the government's one-year operating cycle. Finally, a “long-term” model would report both current and noncurrent assets and liabilities for governmental funds. Data Availability: Details regarding the GASB project can be found on its website at: https://www.gasb.org/jsp/GASB/Document_C/GASBDocumentPage?cid=1176168729663&acceptedDisclaimer=true.
14
Davidyan, Julia Y., and Tammy R. Waymire. "The effect of GAAP conformity on pension underfunding." Journal of Public Budgeting, Accounting & Financial Management 30, no. 4 (November 5, 2018): 415–39. http://dx.doi.org/10.1108/jpbafm-02-2018-0013.
Full textAbstract:
Purpose The purpose of this paper is to examine the association between conformity with generally accepted accounting principles (GAAP) indicated by Governmental Accounting Standards Board (GASB) 34 presentation and pension underfunding in Illinois. Design/methodology/approach The authors used a fixed effects regression and employed a sample of Illinois municipalities (n=2,565 municipal-year observations) over the period 2009–2014. Findings The findings show that GAAP is inversely associated with pension underfunding, but only among the subsample of municipalities that are within the healthy pension funding range, i.e., above 80 percent funded. These municipalities may be in a better position to increase pension funding in response to the disciplining effect of broad GAAP conformity. Research limitations/implications The paper focuses solely on one state and one multi-employer plan. Future studies should consider assessing the applicability of the results to other states and plan settings. Social implications The results inform the standard-setting process, particularly as the implementation of the new GASB standards is evaluated and as GASB 34 is reexamined. Originality/value Despite concerns associated with state and local pension underfunding, academic studies examining its determinants are few. The sample setting is representative of municipal pension plans in the USA (with a comparable average pension funding ratio of 74.2 percent) and provides variability in GAAP conformity (the state encourages, but does not require, financial statement presentation consistent with GASB 34), as well as homogeneity in actuarial assumptions across observations (all sample municipalities participate in a large multi-employer municipal pension plan). The sample period immediately precedes the implementation of GASB Statements Nos 67 and 68, which increase the scope of pension reporting, providing the opportunity to consider the effects of broad GAAP conformity and a baseline for subsequent consideration of the effects of the new standards.
15
CLARK, ROBERT L., and MELINDA SANDLER MORRILL. "The funding status of retiree health plans in the public sector." Journal of Pension Economics and Finance 10, no. 2 (April 2011): 291–314. http://dx.doi.org/10.1017/s1474747211000059.
Full textAbstract:
AbstractWhile no longer common in the private sector, most public sector employers offer retiree health insurance (RHI) as a retirement benefit to their employees. While these plans are thought to be an important tool for employers to attract, retain, motivate, and ultimately retire workers, they represent a large and growing cost. This paper reviews what is currently known about RHI in the public sector, while highlighting many important unanswered questions. The analysis is informed by data produced in accordance with the 2004 Government Accounting Standards Board Rule 45 (GASB 45). We consider the extent of the unfunded liabilities states face and explore what factors may explain the variation in liabilities across states. The importance and sustainability of RHI plans in the public sector ultimately depend on how workers view and value this post-retirement benefit, yet little is known about how RHI directly impacts the public sector labor market. We conclude with a discussion of the future of RHI plans in the public sector.
16
Quinn, Joseph D., and Kenneth J. Smith. "The Ridgely House Venture: Triple Net Commercial Lease/Purchase Case." Issues in Accounting Education 15, no. 3 (August 1, 2000): 459–81. http://dx.doi.org/10.2308/iace.2000.15.3.459.
Full textAbstract:
This case examines the tax, financial accounting, and governmental reporting consequences of a private Developer's actual purchase, renovation, and transfer of Ridgely House—an historical building in Ridgely, Maryland—to the Town of Ridgely. In short, the Developer purchases the building for $110,000 and incurs $190,000 in renovation costs to convert the property to a Town Hall and Police Station. He then “leases” the property back to the Town under terms and conditions outlined in a lease/purchase agreement (which can be viewed on the Web at http://faculty.ssu.edu/∼kjsmith/ridgely.htm). The case is constructed from the background information and actual lease/purchase agreement provided by the Developer. The terms of the agreement raise several questions regarding the proper tax and financial accounting treatment of various aspects of the transaction. The Developer (lessor) questions whether the transaction is to be reported for tax and financial-reporting purposes as a rental or a sale, if the property qualifies for a federal historical tax credit, and what net cash flow can be expected from the project. As an optional assignment (at the instructor's discretion), the Town (lessee) questions whether it has entered into an operating or capital lease, how to record the transaction in accordance with Governmental Accounting Standards Board (GASB) guidelines, and what disclosures are required on its Statement of Financial Position. The case background, key lease/purchase agreement terms, and actual lease/purchase agreement provide the prerequisite material for solving the case requirements. In addition, outside resources (textbooks, online tax and financial accounting web sites, etc.) should be consulted in the process of seeking solutions to the questions posed by the Developer and the Town Commissioners. It is suggested that solutions to the case requirements be presented to the instructor in the form of an Executive Summary with supporting documentation and schedules.
17
Meegoda, Jay N., Thomas M. Juliano, Prasanna Ratnaweera, and Layek Abdel-Malek. "Framework for Inspection, Maintenance, and Replacement of Corrugated Steel Culvert Pipes." Transportation Research Record: Journal of the Transportation Research Board 1911, no. 1 (January 2005): 22–30. http://dx.doi.org/10.1177/0361198105191100103.
Full textAbstract:
A framework for inspection, rehabilitation, and replacement of corrugated steel culvert pipes (CSCP) is developed. It is expected to lead to developing a culvert information management system (CIMS), wherein justification and need are based on recent Governmental Accounting Standards Board (GASB) requirements. The CIMS will assist in evaluating infrastructure assets and facilitate comparing present costs of preserving infrastructure. Benefits include long-term savings from adopting optimized preventive maintenance strategies. CSCP condition states are used to express the extent of deterioration. Rehabilitation options and recommendations are given for deteriorated CSCPs. These options will be incorporated into the proposed CIMS, which uses survival probabilities based on the CSCP condition state during the previous year. Survival probabilities within Condition States 1, 2, and 3 are computed on the basis of corrosion research data. However, implementing the proposed CIMS requires field data for CSCPs or laboratory tests that mimic field conditions. The proposed CIMS can analyze decisions to inspect, rehabilitate and replace, or do nothing at both project and network levels. At the project level, inspection or rehabilitation and replacement costs are compared with failure risks and costs. At the network level, associated costs are optimized to meet the annual maintenance budget by prioritizing CSCPs needing inspection and rehabilitation and replacement. The proposed CIMS can also be used to estimate the required annual budgetary allocation for a stipulated planning horizon and to maintain or improve the aggregate condition state of the CSCP network or to maintain or improve the total highway CSCP network asset value, thereby meeting GASB 34 requirements. The optimum sequential path in the annual decision-making process may then be determined using a combination of operations research tools.
18
Carlo, Claudia P., and Dr Dahli Gray. "GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB) EXPOSURE DRAFT OF FINANCIAL REPORTING MODEL IMPROVEMENTS ISSUED JUNE 2020: OCTOBER 2020 SURVEY AND ANALYSIS OF CITY FINANCIAL REPORTS SUPPORT THE NEED FOR IMPROVEMENTS." International Journal of Education and Social Science Research 04, no. 02 (2021): 65–82. http://dx.doi.org/10.37500/ijessr.2021.4208.
Full text
19
Asirah, Andi, and Andi Ratna Sari. "The Application of Accounting Standards in Government Accounting Accrual Basis: Health Laboratory Center for Makassar." Business and Economic Research 9, no. 4 (November 12, 2019): 231. http://dx.doi.org/10.5296/ber.v9i4.15587.
Full textAbstract:
The purpose of this study was to analyze the constraints in the implementation of Government Accounting Standards (SAP) based on the accrual basis as well as to analyze the efforts made to overcome the existing obstacles in the implementation of Government Accounting Standards (SAP) based on the accrual basis. The Indonesian Governmental Accounting Standards Committee (KSAP) has compiled the Government Accounting Standards (SAP) accrual established by Government Regulation Number. 64 of 2013 replacing by the Government Regulation Number 71 of 2010. With the enactment of Government Regulation No. 64 of 2013, the application of accrual-based government accounting standards already have a legal basis. The enactment of Government Regulation No. 64 Year 2013 on Government Accounting Standards (SAP) based on the accrual basis brought major changes in the financial reporting system in Indonesia, which is a change from Cash Basis Accrual Basis Full towards the recognition of government financial transactions. Health laboratory center for Makassar has implemented Cash to Accrual (CTA) in 2011 until 2013.Implemented government accounting standards (SAP) based on the accrual basis in the accrual-based financial statements in 2014 is a qualified opinion (WDP ) acquired by the Health laboratory center for Makassar on The Audit Board of The Republic Indonesia (BPK) audit report on the financial statements 2016 illustrate unmet reasonable levels of information presented for a particular item. From the research will be found two (2) factors; Regional Working Unit (SKPD) Health Laboratory Center for Makassar obstacles encountered in implementing accrual-based government accounting system (SAP), human resources financial managers, and human resource asset managers who often alternated. In this study, researchers found the effort / solution by the Health Laboratory Center for Makassar on obstacles in implementing accrual-based SAP in the preparation of financial statements, namely: education and training.
20
Gradison, Bill. "A Former PCAOB Board Member Looks to the Past…and to the Future." Accounting Horizons 28, no. 4 (August 1, 2014): 931–35. http://dx.doi.org/10.2308/acch-50888.
Full textAbstract:
SYNOPSIS The PCAOB is still new compared with most government agencies; indeed it is a work in progress. Overall I think the original board on which I served, as well as the new Board, have done good work, staying focused on the mission of protecting investors. Based on my experience during my eight years as a Board member, the greatest challenges I identified that the original Board left for the new Board involved international inspections, inspection of broker-dealers, and the need to speed up the issuance of PCAOB auditing standards to replace the interim standards adopted by the Board early in its existence.
21
Amin, Asbi, and Anwar Anwar. "DIMENSI KARAKTERISTIK LAPORAN KEUANGAN PEMERINTAH." Jurnal Akuntansi 10, no. 3 (October 31, 2020): 223–30. http://dx.doi.org/10.33369/j.akuntansi.10.3.223-230.
Full textAbstract:
This research to prove the commitment of the leadership, the capacity of the financial apparatus, the implementation of the Regional Financial Accounting Standards, and the internal control function have an influence on the characteristics of government financial reports. This research is a quantitative study using primary data. The population in this study were senior auditors of the South Sulawesi Representative Audit Board using a purposive sampling technique so that the sample was sixty-eight auditors. The data were collected by using a questionnaire method. The analytical method used in testing the hypothesis is multiple linear regression analysis. The results of the study prove that the commitment of the leadership, the capacity of the financial apparatus, the application of the Regional Financial Accounting Standards, and the internal control function significantly influence the characteristics of government financial reports.Keywords: leadership commitment, the capacity of financial Apparatur, the implementation of government accounting standards, internal control, the quality of local government financial statements.
22
Desir, Rosemond, Ray J. Pfeiffer, and Francesca Roberts. "Should Government Assistance be Reflected in Financial Reports?" Accounting Horizons 34, no. 1 (September 1, 2019): 93–110. http://dx.doi.org/10.2308/acch-52571.
Full textAbstract:
SYNOPSIS Government assistance provided to U.S. companies is a large and economically significant phenomenon. Although the Financial Accounting Standards Board (FASB) has a current project concerning government assistance, U.S. Generally Accepted Accounting Principles (GAAP) do not yet provide guidance about financial reporting for assistance. We explore whether recipients of government assistance should reflect it in financial reports. Specifically, we synthesize arguments and evidence from several sources, including conceptual framework element definitions and recognition criteria, current practice, IFRS guidance and practice, written arguments from FASB constituents, and guidance from professional service firms. We conclude that U.S. GAAP should require both the recognition of assets, liabilities, and changes in equity stemming from assistance agreements with government entities and the disclosure of relevant details to help users understand the measurement, timing, and uncertainty of the benefits and costs of agreements. We discuss implementation challenges and suggest avenues to improve financial reporting for government assistance. JEL Classifications: M41; M48; H81. Data Availability: All data are from public sources identified in the manuscript.
23
V N, Sruthiya. "International Financial Reporting Standards Implementation in India: Benefits and Problems." IRA-International Journal of Management & Social Sciences (ISSN 2455-2267) 6, no. 2 (March 9, 2017): 292. http://dx.doi.org/10.21013/jmss.v6.n2.p13.
Full textAbstract:
<p><em>International Financial Reporting Standard (IFRS) introduced by the International Accounting Standards Board (IASB is international financial reporting standard. IFRS is a single set of high quality, understandable and enforceable global accounting standards. It is a "principles based" set of standards which are drafted lucidly and are easy to understand and apply. IFRSs were adopted first time in 2005 by EU (European Union) and are now accepted or required in more than 120 countries. In India, this is in an implementation stage. This paper tries to study the implementation problems in India and make suggestions to solve the problems. The important implementation problems are cost, lack of awareness about IFRS among investors, and no uniformity in accounting guidance issued by various regulators (SEBI, IRDA, RBI) in India. The suggestions are to provide proper training and education to accounting professionals and employees about IFRS; Government has to reform the taxation system to match with IFRS. </em></p>
24
Thuy Van, Ha Thi, Vu Thi Kim Anh, and Nguyen Dang Huy. "International Financial Reporting Standards and Orientation of Vietnam: “Roadmap & International Experience”." Accounting and Finance Research 7, no. 4 (November 20, 2018): 167. http://dx.doi.org/10.5430/afr.v7n4p167.
Full textAbstract:
Currently, the Ministry of Finance is implementing Decision 480/QD-TTG dated 03/18/2013 of The Prime Minister on approving the Strategy Accounting - Audit 2020, Vision 2030 and implementing the Resolution 35/NQ-CP of the Government dated 16.05.2016 related to the support and development of enterprises by 2020. Accordingly, the development and improvement the legal framework of Financial Reporting standards in Vietnam is one of the key tasks and urgent needs to be developed to meet the requirements of the economy in the period of integration. The system of International Accounting Standards, including the International Accounting Standards (IAS) and the standards of international financial reporting (IFRS) was issued, adjusted, updated and replaced by The International Accounting Standards Board. International Accounting Standards is an important condition to ensure that companies and organizations around the world can apply uniform accounting principles in the work of preparing and presenting financial statements. Currently, many countries around the world such as USA, Japan and European countries, Asia Pacific are approaching IFRS convergence trend. In the trend of globalization of accounting, Vietnam will not be outside the process of integration with the system of International Financial Reporting Standards. This article will review the process of formation and development of IFRS, the IFRS trends and the advantages and disadvantages of applying IFRS in Vietnam.
25
Bloom, Robert. "Reporting for State and Local Government Pension Plans." Compensation & Benefits Review 44, no. 3 (May 2012): 165–69. http://dx.doi.org/10.1177/0886368712455607.
Full textAbstract:
Financial reporting for state and local government pension plans needs to be improved. Although these governmental agencies in recent years have required greater contributions by employees toward their pensions along with increasing the retirement age and service years, reducing cost-of-living benefits, and reducing overtime allowances, investment losses and declining tax revenues stemming from the recession have aggravated the underfunding of their pension plans. Financial reporting of these plans could be enhanced by reflecting more realistic measures of the underlying obligation and the expected long-term rates of return on plan assets. The Government Accounting Standards Board is finalizing a standard to require such information in order to enhance the transparency of reporting on these plans.
26
Probohudono, Agung Nur, Wahyu Widayat, and Siti Arifah. "Determining of The Compliance of Local Governments To Implement The Accounting System of The Government’s Accrual Base In Indonesia." Ilomata International Journal of Management 1, no. 4 (October 26, 2020): 177–90. http://dx.doi.org/10.52728/ijjm.v1i4.158.
Full textAbstract:
This study refers to the influence of the age of local government, status, number of Regional Device Task Force (SKPD), financial autonomy ratios, effectiveness ratios, local income growth ratios, and the quality of local financial reports that exist in local governments as an independent variable on the compliance of local governments to implement government accounting systems as the dependent variable. Using quantitative methods with secondary data obtained from information on the publication of the Indonesian Financial Audit Agency, the Central Bureau of Statistics of the Republic of Indonesia (BPS), and local government reports. The sample used is limited to the municipal and district governments in western Indonesia, which are being evaluated by the Indonesian Financial Audit Agency in the implementation of an accrual base government accounting system of 158 local governments namely 36 cities and 122 districts. Multiple linear regression analysis was used to test the hypothesis. The research is a causality, quantitative research model, and secondary data from local governments throughout Indonesia and secondary data about the compliance of local governments in the application of Government Accounting Standards (SAP) published by the Audit Board of the Republic of Indonesia (BPK). The results of the hypothesis analysis conclude that the status of local government, the ratio of regional government autonomy, and the growth of local revenue significantly influence the compliance of local governments in the implementation of the accrual base government accounting system.
27
Mills, Lillian F., Leslie A. Robinson, and Richard C. Sansing. "FIN 48 and Tax Compliance." Accounting Review 85, no. 5 (September 1, 2010): 1721–42. http://dx.doi.org/10.2308/accr.2010.85.5.1721.
Full textAbstract:
ABSTRACT: We develop a model to examine the effects of Financial Accounting Standards Board (FASB) Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48), on the strategic interaction between publicly traded corporate taxpayers and the government. Several of our findings contradict conjectures voiced by members of the business community regarding the economic effects of implementing FIN 48. Specifically, taxpayers with strong facts obtain higher expected payoffs from uncertain tax benefits and some disclosed liabilities understate the expected tax liability. Consistent with the common conjectures, however, some taxpayers are more likely to be audited or are deterred from entering into transactions that generate uncertain tax benefits because of FIN 48.
28
Gjoni, Albana, Shpresa Cela, Drini Salko, and Migena Qerimi. "Adoption of IFRS for SMEs in Albania." Research in World Economy 12, no. 2 (January 11, 2021): 158. http://dx.doi.org/10.5430/rwe.v12n2p158.
Full textAbstract:
Small Medium-Sized Enterprises (SMEs) is one of the most important engines of economic growth in Albania. They make a significant contribution to local and global trade and also to the national economic development. SMEs have the largest proportion of total Albanian employment, almost 78% of the total number of employed people. They generally face difficulties in financing and investing decisions, globalization, and other matters, mainly because of their inappropriate formal financial reports. These enterprises must prepare adequate financial statements and proper accounts to deal with third parties’ needs and ensure stakeholder’s confidence. This requires financial statements to be prepared by international financial reporting standards (IFRS), national accounting standards, and local government laws. Therefore, the International Accounting Standards Board (IASB) provided a new standard to ensure the required financial reporting quality for SMEs. The main focus of this study is to examine the attitudes of financial statement’s information’ users in Albania towards the adoption of this financial reporting standard for SMEs as progress on the general financial reporting process in Albania, and also to estimate their capabilities and interests on this matter.
29
Tsunogaya, Noriyuki, and Andreas Hellmann. "Using arguments and myths to lobby over controversial accounting issues: evidence from Japan." Pacific Accounting Review 32, no. 3 (May 4, 2020): 355–90. http://dx.doi.org/10.1108/par-01-2019-0003.
Full textAbstract:
Purpose This study aims to examine the (overt) arguments and (covert) myths the Business Accounting Council (BAC) members have used to lobby over controversial accounting issues, such as the application of fair value accounting (FVA) and the adoption of International Financial Reporting Standards (IFRS) in Japan. Design/methodology/approach The authors used a content analysis to examine 85 statements included in multiperiod BAC meeting minutes and 68 articles prepared by International Accounting Standards Board (IASB) representatives from Japan. Findings The results reveal that together with the arguments, myths were created and amplified by opponents of FVA and the Financial Services Agency to hide the latter’s strong regulatory power. They created these myths, using covert stories of the importance of manufacturing activities and tax accounting (for small- and medium-sized enterprises [SMEs]), to oppose mandatory IFRS adoption in Japan and, thus, to maintain vested rights in preparing the Japanese generally accepted accounting principles and Japanese accounting standards for SMEs. Originality/value First, this study contributes to the lobbying literature by focusing on the coalition (network) effect of influential stakeholder groups. Second, although lobbying activities have been investigated mostly using comment letters, this study reviews multiperiod BAC meeting minutes and articles prepared by IASB representatives from Japan. Third, the study examines both overt arguments and covert myths, both of which are important in unmasking the fundamental structures of power within influential organizations, such as government agencies and standard-setters.
30
Mosso, David. "Financial Analysts Need Sharper Accounting Tools." Accounting Horizons 25, no. 2 (June 1, 2011): 419–35. http://dx.doi.org/10.2308/acch-10027.
Full textAbstract:
SYNOPSIS This paper explores the implications of a wealth accounting model on comparability for several key aspects of financial analysis such as restraining, accounting manipulation, and unifying merger and acquisition accounting. The paper extends the analysis of wealth accounting for individual companies to explore the implications for the capital markets at large, suggesting, for one thing, that wealth accounting financial statements would emit early warning signals of approaching financial crises. And, suggesting for another, that wealth accounting statements would serve as rolling stress tests to help the markets self- regulate, reducing the need for government regulation and at the same time helping regulators formulate more effective regulatory policies. These proposals are revolutionary and would generate fierce opposition from the corporate financial reporting community. The paper explores the current political scene and concludes that the time may be ripe for a concerted effort to convince the Securities and Exchange Commission and the Financial Accounting Standards Board to elevate the interests of investors and creditors above the interests of corporate financial statement preparers that they now seem to favor, in fact if not by intent. The paper suggests that financial analysts and academic accountants should join forces to lead a reform effort.
31
Kardan, Behzad, Mahdi Salehi, and Rahimeh Abdollahi. "The relationship between the outside financing and the quality of financial reporting: evidence from Iran." Journal of Asia Business Studies 10, no. 1 (January 4, 2016): 20–40. http://dx.doi.org/10.1108/jabs-04-2014-0027.
Full textAbstract:
Purpose – This study aims to investigate the impact of outside financing (equity and debt financing) on the quality of financial reporting in Iran. Design/methodology/approach – Sample includes the companies listed on the Tehran Stock Exchange – 152 companies in a period of four years during 2010-2013. Data were analyzed by using multiple linear regressions with the benefits of the combined data. Findings – The results indicates that there is a positive relationship between the quality of financial reporting based on the qualitative characteristics of the theoretical principles of the Iranian Financial Accounting Standards Board and debt financing. Moreover, there is a negative relationship between the quality of financial reporting based on the Dechow and Dichev (2002) model and debt financing. Additionally, there is a negative relationship between the quality of financial reporting (based on the qualitative characteristics of the theoretical principles of the Iranian Financial Accounting Standards Board as well as the Dechow and Dichev models) and equity financing. Originality/value – Financial statements as the output of the accounting system has always been considered by the investors, the creditors and the government; nonetheless, its dependability in making decisions has always been doubted because of using the accrual principle in the calculation of the reported figure in the statements and, consequently, the possibility of being manipulated by the managers as well as the likelihood of conflict of interest among the managers and the shareholders.
32
S., Muzakkir. "BUSINESS DISTRIBUTION RESULTS OF SHARIA FINANCIAL INSTITUTIONS IN HADITS PERSPECTIVE." Mu'amalat: Jurnal Kajian Hukum Ekonomi Syariah 11, no. 1 (June 26, 2019): 89–110. http://dx.doi.org/10.20414/mu.v11i1.2038.
Full textAbstract:
All results of operations managed in a Sharia Financial Institution should use a system that does not harm either party in accordance with applicable accounting standards. The accounting basis is the accounting principle that determines when the effects of transactions or events must be recognized for financial reporting purposes. Which accounting base is used by a particular organization, depending on the policies and conditions that exist. Regardless of which accounting basis is used, this paper will explain both of these accounting bases that exist in practice, both in the private sector and the public sector including government, to review the National Sharia Board Fatwa Number 14 / DSN-DSN / IX / 2000 Concerning Distribution Systems Business Results in Islamic Financial Institutions.The approach used in this paper is the hadith study approach to the legal basis contained in the DSN Fatwa concerning Business Results Distribution System in Islamic Financial Institutions. This approach is expected to be able to describe the conceptual framework related to the legal basis for establishing a fatwa.
33
Guizani, Moncef, and Gaafar Abdalkrim. "Ownership structure and audit quality: the mediating effect of board independence." Corporate Governance: The International Journal of Business in Society 21, no. 5 (February 12, 2021): 754–74. http://dx.doi.org/10.1108/cg-12-2019-0369.
Full textAbstract:
Purpose This study aims to examine the mediating effect of board independence on the relationship between ownership structure and audit quality. Design/methodology/approach The research uses generalized methods of moments regression to test the relationship between ownership structure and audit quality. The sample consists of 162 non-financial firms listed on the Gulf Cooperation Council stock markets between the years of 2009 and 2016. To test the significance of the mediating effect, this paper uses the Sobel test. Findings Empirical findings show that companies with higher family ownership are less likely to demand extensive audit services and, as a result, pay lower audit fees. Conversely, this study finds that companies with higher active and passive institutional ownership are more likely to engage high-quality auditors and pay larger audit fees. As for government ownership, it has no significant impact on audit fees. The results also reveal that the negative (positive) effect of family (institutional) ownership on audit quality follows the path through reducing (enhancing) board independence. Further tests are conducted and support the main findings. Practical implications This study has important implications for policymakers and regulators to address the conflict between controlling shareholders and minorities by promoting higher standards of audit quality. The study findings may be useful to investors, assisting them in making better-informed decisions and aids other interested parties in gaining a better understanding of the role played by ownership structure in audit quality. The study also contributes to the strategic board behavior by bringing a new perspective on how boards engage in monitoring by requesting external audit services. This behavior is likely to be influenced by the type of controlling shareholder. Originality/value The main contribution of the present paper is to examine the board composition as a potential mediating variable between ownership structure and audit quality. Moreover, it highlights the issue of improving governance mechanisms.
34
Rogošić, Andrijana. "Call for papers for the special issue of Zeszyty Teoretyczne Rachunkowości in 2021 entitled Ethical Issues in Accounting in Prosperity and a Financial Crisis." Zeszyty Teoretyczne Rachunkowości 107, no. 163 (July 9, 2020): 183–86. http://dx.doi.org/10.5604/01.3001.0014.2470.
Full textAbstract:
Current and past economic and financial crises have changed the behaviour of busi-ness leaders, managers, and investors, as well as accounting professionals (financial accountants, bookkeepers, management accountants, auditors). The fear of further financial crises has forced accounting reforms, the revision of auditing standards, and a restructuring of corporate governance systems in many countries to provide a relia-ble framework for companies’ activities and performance. The International Federa-tion of Accountants (IFAC) board founded the International Ethics Standard Board for Accountants (IESBA), which issued the Code of Ethics for Professional Account-ants (IFAC Code) as a set of globally accepted guidelines for ethical conduct. The first version was published in 1990, and it was recommended (but not mandatory) for IFAC members to adopt. Establishing a unified code of ethics was one of the major achievements of IFAC that provided solid guidelines for accounting professionals across the world. Prior research indicates that the IFAC Code has been moderately successful in the attempt to harmonise ethics standards for professional accountants worldwide. As globalisation continues to affect business culture and technology, and, consequently, the focus of business, the accounting profession must keep pace and reassess its role in the world economy, but also in society. This is especially important during economic and financial crises, when the classic entrepreneurial model is not sustainable. Not only can a code of ethics can provide a framework for appropriate employee behaviour and establish a better corporate culture, it can also improve lead-ership, help organisations to comply with government guidelines, and enable organisa-tions to be more socially responsible. Many ethical issues could be explored in the con-text of Corporate Social Responsibility (CSR), not only in times of crisis. The high-profile ethical failures of professional accountants in recent decades taught us the importance of ethics education. A professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employing organization. All accountants should act in the public interest by complying with fundamental ethical principles (integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour) since these principles establish the standard of expected behaviour. Therefore, accounting ethics should be promoted much more in education and in practice. Accounting and business educators have a special responsibility to ex-amine and teach ethics in the broader context of globalisation. Regulations and volun-tary standards aim at minimizing fraud and manipulation of business information, but ethical behaviour is the key to achieving an honest business environment and sustaina-ble growth.
35
Bhasin, Madan Lal. "Creative Accounting Practices at Satyam Computers Limited: A Case Study of India’s Enron." International Journal of Business and Social Research 6, no. 6 (June 27, 2016): 24. http://dx.doi.org/10.18533/ijbsr.v6i6.948.
Full textAbstract:
<p>Satyam Computers were once the crown jewel of Indian IT industry, however, the debacle of Satyam raised a debate about the role of CEO in driving a company to the heights of success and its relation with the board members and core committees. The scam brought to the light the role of corporate governance (CG) in shaping the protocols related to the working of audit committees and duties of board members. The Satyam scam was a jolt to the market, especially to Satyam stockholders. This paper attempts an in-depth analysis of India’s Enron, Satyam Computer’s “creative-accounting” scandal. In public companies, this type of ‘creative’ accounting leading to fraud and investigations are, therefore, launched by the various governmental oversight agencies. The accounting fraud committed by the founders of Satyam in 2009 is a testament to the fact that “the science of conduct is swayed in large by human greed, ambition, and hunger for power, money, fame and glory.” Scandals have proved that “there is an urgent need for good conduct based on strong corporate governance, ethics and accounting & auditing standards.” The Satyam scandal highlights the importance of securities laws and CG in emerging markets. Indeed, Satyam fraud “spurred the government of India to tighten the CG norms to prevent recurrence of similar frauds in future.” Thus, major financial reporting frauds need to be studied for ‘lessons-learned’ and ‘strategies-to-follow’ to reduce the incidents of such frauds in the future. The increasing rate of white-collar crimes “demands stiff penalties, exemplary punishments, and effective enforcement of law with the right spirit.”</p><h2> </h2>
36
Schührer, Sabine. "Identifying policy entrepreneurs of public sector accounting agenda setting in Australia." Accounting, Auditing & Accountability Journal 31, no. 4 (May 21, 2018): 1067–97. http://dx.doi.org/10.1108/aaaj-02-2016-2401.
Full textAbstract:
Purpose The purpose of this paper is to improve Kingdon’s (1984, 2011) concept of policy entrepreneurs (PE) with regard to the theoretical development of the definition and identification and level of agency by supplementing it with elements of Schmidt’s (2008, 2010, 2011, 2012) sentient agents. The improved concept of discursive policy entrepreneurs (DPEs) is then applied in an in-depth case study about the agenda setting process of micro and macro whole-of-government accounting in Australia in the late 1990s and early 2000s. Design/methodology/approach Based on the concept of DPEs, a series of operationalised characteristics and proxies are developed to identify them and describe their behaviour. These are then applied in the case study. The two main data sources are semi-structured in-depth interviews and archival documents. Findings The findings show that the focus on DPEs’ discursive and coordination activities is critical for identifying and investigating the key actors of the Generally Accepted Accounting Principles (GAAP)/Government Finance Statistics (GFS) harmonisation agenda setting process. The study also finds that the two relevant decision-making bodies, the Financial Reporting Council and the Australian Accounting Standards Board, lost control over their agendas due to the actions of DPEs. Research limitations/implications The improved concepts of DPEs will allow researchers to better identify the main agents of policy change and differentiate them from other supporters of policy ideas. Due to the qualitative nature of the study, the findings are not necessarily generalisable. Practical implications The findings from this study can help participants of agenda setting processes to gain a better understanding of the actions and behaviours of DPEs. This might allow standard setting bodies to mitigate against undue influences by DPEs. Originality/value This study is the first study that uses Schmidt’s concept of the sentient agent to address the limitations of Kingdon’s concept of PE and develops and applies characteristics to identify PEs and their actions. It is also the only study to date that investigates the GAAP/GFS harmonisation agenda setting process.
37
Jensen, Gwenda. "The IPSASB's recent strategies: opportunities for academics and standard-setters." Journal of Public Budgeting, Accounting & Financial Management 32, no. 3 (July 2, 2020): 315–19. http://dx.doi.org/10.1108/jpbafm-04-2020-0050.
Full textAbstract:
PurposeThe purpose of this article is to contribute to an ongoing dialogue between practitioners and academics. This article describes the International Public Sector Accounting Standards Board (IPSASB) recent strategies and highlights the IPSASB's increasing outreach to academics.Design/methodology/approachThis is a practitioner's viewpoint which reflects the IPSASB's publicly available documents, and the opinions of a practitioner directly involved in the IPSASB's work and International Public Sector Accounting Standards (IPSAS) development.FindingsThe findings are that the IPSASB has increased its outreach to academics and now academics have more opportunities to engage with the IPSASB and IPSAS developments. The IPSASB's strategy has remained relatively constant over time, focusing on IPSAS to address public sector-specific issues, alignment with the International Financial Reporting Standards (IFRS) and reduction of differences between IPSAS and Government Finance Statistics (GFS) reporting guidelines.Research limitations/implicationsThe limitations of this article (which are also its strength in terms of fitness for purpose) are that as a practitioner's viewpoint it provides a brief overview and personal judgments, rather than an empirical analysis of developments applying a theoretical framework.Practical implicationsThe practical implications were IPSASB's increased outreach to the research community providing opportunities for academics to have increased input into IPSAS development, with likely benefits to researchers and the IPSASB.Social implicationsPractitioners’ engagement with academics supports increased understanding of the respective views leading to better outcomes for practitioners and academics working in the area of public sector financial reporting and its regulation.Originality/valueThis article is the first to (a) describe the IPSASB's increasing outreach to academics during 2019–2020 and (b) compare the IPSASB's strategies for the period of 2019–2023, with its strategies since the beginning of IPSAS developments in 1996–1997.
38
Juhmani, Omar. "Corporate governance and the level of Bahraini corporate compliance with IFRS disclosure." Journal of Applied Accounting Research 18, no. 1 (February 13, 2017): 22–41. http://dx.doi.org/10.1108/jaar-05-2015-0045.
Full textAbstract:
Purpose The purpose of this paper is to examine the relation between corporate governance (CG) and International Financial Reporting Standards (IFRS) disclosure one year before the issuance of the first Corporate Governance Code (CGC) in Bahrain. Design/methodology/approach The CG is measured by board composition, audit committee characteristics, and ownership structure. Ordinary least-squares regressions are used to examine the relationships between the level of Bahraini corporate compliance with mandatory IFRS disclosure requirements as dependent variable and eight CG mechanisms as independent variables and five other firm-specific attributes, as control variables. Findings The results show that three of the CG mechanisms (i.e. board independence, audit committee independence, and Chief Executive Officer duality) are associated with the level of IFRS disclosure. This suggests that CG mechanisms are effective in the financial reporting practices. However, the results show that the other five CG mechanisms (i.e. board size, audit committee size, blockholder ownership, managerial ownership, and government ownership) are not associated with the level of IFRS disclosure. This result may prove the importance of the CGC as an effective enforcement mechanism to enforce Bahraini companies to fully comply with IFRS disclosure. Research limitations/implications Although the study can contribute to the understanding of the relationship between CG and IFRS in Bahrain, it may not be able to be generalized to other countries. Such relationships could be different from country to country due to business and legal environments. Therefore, there is a need to investigate these relationships among different countries. This study examines the relation between CG and the level of compliance with IFRS disclosure one year before the issuance of the first CGC in Bahrain. Future research might attempt to examine the relation one year after the issuance of the first CGC in Bahrain to confirm the importance of the CGCs as an effective enforcement mechanism. Practical implications The findings of this study are of great concern to all users of annual reports and of particular interest to accounting regulators to improve the level of supervision and the standard of reporting in Bahrain. Also, it is of great concern to professional accounting bodies, policy makers, and governments in emerging markets in countries that share similar economic, political, and cultural environments. Originality/value This paper’s contribution to the literature is twofold: it examines the relation between three groups of CG mechanisms (i.e. board characteristics, audit committee characteristics and ownership structure) and the level of corporate compliance with IFRS disclosure; it examines the relation one year before implementing the first CGC in Bahrain and provides new evidence on the importance and effectiveness of the CGCs.
39
Tello, Edward, James Hazelton, and Lorne Cummings. "Potential users’ perceptions of general purpose water accounting reports." Accounting, Auditing & Accountability Journal 29, no. 1 (January 18, 2016): 80–110. http://dx.doi.org/10.1108/aaaj-12-2013-1552.
Full textAbstract:
Purpose – The purpose of this paper is to explore the perceptions of potential users about water accounting reports prepared under Australian general purpose water accounting (GPWA), which applies financial accounting techniques to water and could be extended to other areas of natural resource management. In particular, the paper examines the extent to which users believe GPWA reports are useful and facilitate the discharge of accountability by water managers. Design/methodology/approach – As a theoretical lens the authors apply an extended version of Gray et al.’s (1996) accountability model. The authors utilise mixed method research design comprising a questionnaire administered to users with water-related interests and an analysis of public submissions to the Water Accounting Standards Board on the Exposure Draft of Australian Water Accounting Standard 1. Findings – Overall, users perceive the introduction of GPWA as useful and believe that the benefits will outweigh the costs. The adoption of a financial accounting approach in terms of accounting standards and prescribed methods for booking and disclosing water “transactions” was broadly supported. In terms of the main users of reports, there was some ambiguity but findings suggested that government agencies were likely to be the main users of GPWA. Users were also concerned about the degree of judgement required to determine the identity and boundaries of a “water report entity”. Perhaps the most controversial aspect related to accountability; while the Accountability Statement was broadly supported there was little consensus that GPWA collectively discharged the accountability of water managers. Taken collectively, these results suggest that GPWA may be more useful for improving management performance than accountability. Practical implications – The findings suggest that future iterations of the standard need to reconsider how accountability might be discharged through the production of GPWA. The broad support for GPWA suggests, however, that the financial accounting approach – and hence the accounting community – may also make a valuable contribution to other areas of natural resource accounting. Originality/value – This study contributes to the emerging but still limited literature on GPWA and the fundamentally different approach to natural resource accounting it represents. While some previous studies have examined potential users of GPWA none have done so after the standard has been fully developed, and no previous studies have adopted the mixed research design utilised in this study.
40
Inkoom, Sylvester, John O. Sobanjo, Paul D. Thompson, Richard Kerr, and Richard Twumasi-Boakye. "Bridge Health Index: Study of Element Condition States and Importance Weights." Transportation Research Record: Journal of the Transportation Research Board 2612, no. 1 (January 2017): 67–75. http://dx.doi.org/10.3141/2612-08.
Full textAbstract:
The AASHTO Pontis bridge management system has been used to support network-level and project-level decision making on the condition and functional obsolescence of bridges. State departments of transportation often develop bridge inspection data collection methods, deterioration models, cost models, and other preservation analysis capabilities to comply with the requirements of the federal Government Accounting Standards Board. The bridge health index (BHI) in the Pontis bridge management system has been used in the evaluation of the condition of bridges and elements at the project and network levels. This paper investigates three issues in the computation of the BHI: the effects of using linear and nonlinear scales for the condition state weights when computing the element health index (EHI); the application of amplification weights to EHI values to emphasize bridge elements in bad condition; and the development of element weights based on element replacement costs, element long-term costs, element vulnerability to hazard risks, and a combination of these measures. Historical condition data from element-based inspection were used to evaluate these effects at the network level.
41
Efimova, O. V. "Forming Reports on Sustainable Development: Stages and Procedures." Accounting. Analysis. Auditing 5, no. 3 (August 10, 2018): 40–53. http://dx.doi.org/10.26794/2408-9303-2018-5-3-40-53.
Full textAbstract:
In recent decades, worldwide active development of non-financial reporting is underway, its legislative regulation and standardization are being formed. In Russia, the Concept of the Public Non-Financial Reporting Development was approved by the Government of the Russian Federation. Realization of the tasks set in the Concept requires an active communication between all stakeholders.By now, in Russia there is a group of the companies-leaders in the field of making reports on sustainable development. However, most Russian companies still need to master the principles, methods and techniques for preparing such reports. This article is primarily addressed to those organizations that are currently in the process of collecting information and understanding the tasks to address in the first place.The article is based on the result of analyzing the requirements and recommendations of the most widely used standards on sustainable development reporting (GRI — Global Reporting Initiative), integrated reporting (IR — Integrating Reporting), and US standards for sustainable development reporting (Sustainability Accounting Standards Board Standards or SASB Standards). Public non-fi reports registered on the website of the Russian Union of Industrialists and Entrepreneurs (RSPP) form the empirical basis for the analysis.The paper proposes a sequence of procedures and actions to prepare a corporate report on sustainable development and provides recommendations for the implementation of each stage. It is recommended to consider the process of preparing such a report as an investment project, to which a standard technique of project management and network planning can be applied. It is shown that investments in the development of a report on sustainable development should bring returns and solve various strategic tasks, such as promotion of the organization brand and reputational risk management through interaction with interested parties. The availability of quality information on sustainable development for interested users is becoming an important factor affecting business decisions, such as choosing supplier in procurement, and can be considered as a potential competitive advantage. This leads to the fact that sustainable development reporting is increasingly becoming a strategic tool for managing the value creation process and implementing corporate communications.
42
BHASIN, MADAN LAL. "Satyam’s Manipulative Accounting Methodology Unveiled: An Experience of an Asian Economy." International Journal of Business and Social Research 6, no. 12 (January 28, 2017): 35. http://dx.doi.org/10.18533/ijbsr.v6i12.1010.
Full textAbstract:
<p>Manipulative accounting practices are perennial and such practices have occurred in all eras, in all countries and affected millions of corporations. Unfortunately, there are few loopholes in accounting and auditing standards, which provide leeway and thus motivate accounting professionals to use aggressively manipulation practices. In fact, manipulative accounting (MA) involves the intentional cooking-up of financial records towards a pre-determined target. Every company indeed maneuvers the numbers, to a certain extent, as formally reported in its financial statements (FS) to achieve budgetary targets and generously reward senior managers. From Enron, WorldCom to Satyam, it appeared that window-dressing leading to MA is a serious problem that is increasing both in its frequency and severity, which undermines the integrity of financial reports and eroded investors’ confidence. The responsibility of preventing, detecting and investigating financial frauds rests squarely on Board of Directors and they should adopt preventive steps. Despite the raft of CG, and financial disclosure reforms, corporate accounting still remains murky and companies continue to find ways to play ‘hide-and-seek’ game with the system. Satyam computers were once the crown jewel of Indian IT-industry but were brought to the ground by its founders in 2009 as a result of financial manipulations in FS. The present study provides a snapshot of how Mr. Raju (CEO and Chairman) mastermind this maze of AM practices? Undoubtedly, Satyam scam is illegal and unethical in which computers were cleverly used to manipulate account books by creating fake invoices, inflating revenues, falsifying the cash and bank balances, showing non-existent interest on fixed deposits, showing ghost employees, and so on. Satyam fraud has shattered the dreams of investors, shocked the government and regulators and led to questioning of the accounting practices of auditors and CG norms in India. Finally, we recommend that “All types of MA practices should be legally recognized as a serious crime, and accounting bodies, law courts and regulatory authorities must adopt exemplary punitive measures to prevent such unethical practices.”</p>
43
Abu Talib, Nori Yani, Radziah Abdul Latiff, and Aini Aman. "An institutional perspective for research in waqf accounting and reporting." Journal of Islamic Accounting and Business Research 11, no. 2 (January 16, 2020): 400–427. http://dx.doi.org/10.1108/jiabr-11-2016-0132.
Full textAbstract:
Purpose This paper aims to improve the understanding of the institutional pressures that shape the intention to adopt waqf accounting and reporting. The study seeks to answer two research questions as follows: what are the challenges in the adoption of waqf accounting and reporting in waqf institutions; and how do institutional pressures influence the adoption of waqf reporting in Malaysia. Drawing on the work of DiMaggio and Powell and Scott of institutional theory, this paper provides empirical evidence of institutional pressures on the adoption of waqf reporting in Malaysia and the challenges faced in adopting waqf accounting and reporting. Design/methodology/approach This study uses qualitative research method with an explanatory case study approach. Data are collected through semi-structured interviews with the accountants of State Islamic Religious Council and Customs of Terengganu, an informal conversation with the Deputy Director of Accountant Generals Department of Malaysia and document reviews, mainly the Malaysian Accounting Standard Board Research paper. Findings The findings show that coercive pressure such as government regulation contributes to challenges in the adoption of waqf accounting and reporting. Normative pressures contribute to challenges in formulating standardised waqf accounting and reporting, whereas mimetic pressure contributes to challenges in the comparability of the waqf accounting and reporting among the state Islamic religious councils in Malaysia. In the efforts towards the standardisation of waqf accounting and reporting practice, a similarity of the process of the standard implementation or the institutional isomorphism of the State Islamic Religious Council in Terengganu is strongly influenced from the result of the mandate of its Board members and Fatwa council members (coercive isomorphism and religion logic) and minor influence from the normative isomorphism (the result of the participants’ education and profession) as well as the result of imitating other State of Islamic Religious Councils (SIRCs) because of the ambiguity of the process or certain practice. Research limitations/implications The study contributes to the knowledge by extending institutional theory and the possible role of religion logic in Islamic perspective to organisational behaviour and accounting development in SIRCs. This study is limited to the understanding of the challenges in the adoption of waqf accounting and reporting but could also be applicable to the adoption of other accounting standards or regulations. Practical implications This paper offers key implications for research, in improving the understanding of contextual factors and decision to adopt waqf accounting and reporting. The standard setter needs to be aware of the influence of contextual factors that shape decision towards standardisation of accounting and reporting for waqf. Originality/value The interplay of institutional pressures and implications of religion logic provides an interesting approach to understanding the waqf institutions’ intention to adopt accounting and reporting for waqf.
44
Rogošić, Andrijana. "Ethical Issues in Accounting in Prosperity and a Financial Crisis." Zeszyty Teoretyczne Rachunkowości 109, no. 165 (October 29, 2020): 215–18. http://dx.doi.org/10.5604/01.3001.0014.4784.
Full textAbstract:
Current and past economic and financial crises have changed the behaviour of busi-ness leaders, managers, and investors, as well as accounting professionals (financial accountants, bookkeepers, management accountants, auditors). The fear of further financial crises has forced accounting reforms, the revision of auditing standards, and a restructuring of corporate governance systems in many countries to provide a relia-ble framework for companies’ activities and performance. The International Federa-tion of Accountants (IFAC) board founded the International Ethics Standard Board for Accountants (IESBA), which issued the Code of Ethics for Professional Account-ants (IFAC Code) as a set of globally accepted guidelines for ethical conduct. The first version was published in 1990, and it was recommended (but not mandatory) for IFAC members to adopt. Establishing a unified code of ethics was one of the major achievements of IFAC that provided solid guidelines for accounting professionals across the world. Prior research indicates that the IFAC Code has been moderately successful in the attempt to harmonise ethics standards for professional accountants worldwide. As globalisation continues to affect business culture and technology, and, consequently, the focus of business, the accounting profession must keep pace and reassess its role in the world economy, but also in society. This is especially important during economic and financial crises, when the classic entrepreneurial model is not sustainable. Not only can a code of ethics can provide a framework for appropriate employee behaviour and establish a better corporate culture, it can also improve lead-ership, help organisations to comply with government guidelines, and enable organisa-tions to be more socially responsible. Many ethical issues could be explored in the con-text of Corporate Social Responsibility (CSR), not only in times of crisis. The high-profile ethical failures of professional accountants in recent decades taught us the importance of ethics education. A professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employing organization. All accountants should act in the public interest by complying with fundamental ethical principles (integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour) since these principles establish the standard of expected behaviour. Therefore, accounting ethics should be promoted much more in education and in practice. Accounting and business educators have a special responsibility to ex-amine and teach ethics in the broader context of globalisation. Regulations and volun-tary standards aim at minimizing fraud and manipulation of business information, but ethical behaviour is the key to achieving an honest business environment and sustaina-ble growth. The articles submitted for the special edition will be aimed at clarifying knowledge about ethics from the perspective of the accounting profession. Suggested topics Taking the above into consideration, it is of great importance to obtain answers to the following questions: 1. What are the cross-cultural influences of accounting-related ethical dilemmas? 2. How can accounting ethics affect capital markets? 3. What are the practical barriers for accountants that make ethical behaviour in times of crisis more difficult? 4. What affects the adoption and implementation of the IFAC Code? 5. What is the role of auditors in promoting a higher level of ethical behaviour? 6. Why is accounting education so important in the development of ethics awareness in business and accounting practice? 7. What are the approaches in accounting ethics education? 8. What can be done to improve the quality of accounting ethics education? 9. What measures should be used to enhance accounting ethics? 10. How do accountants deal with the situations and circumstances that might create threats to their compliance with the fundamental principles and can their behaviour be compromised? 11. Which are the safeguards that accountants apply as a way of addressing the threats? 12. What is the role of the codes of ethics for management accountants developed by IMA and CIMA in resolving ethical dilemmas in the area of management accounting? Articles (ca. 40,000 characters) may present the results of research conducted using different methods, e.g., theoretical approaches or empirical approaches (surveys, case studies). We want to underline that the articles should pertain to the theme of the special issue of ZTR and should not have been published earlier in hard copy nor electronic version, whether in magazines, books, or conference materials. The deadline for submitting papers is 31st March 2021. The deadline for the publication of ZTR is 31st October 2021. Each manuscript should be prepared in accordance with the guidance given in the sec-tion “Instructions for authors” of our website: http://ztr.skwp.pl/resources/html/cms/FORAUTHORS. Articles should be submitted through the online ICI Publishers Panel: http://ztr.skwp.pl/resources/html/cms/DEPOSITSMANUSCRIPT When submitting an article, please enter that your article is for Special Issue 2021 with Guest Editor in the additional comment in the Publishers Panel Index Copernicus system. Coordinator of the Special Issue of ZTR with Guest Editor: dr hab. Halina Waniak- -Michalak (ztr@skwp.pl)
45
Dey, R. Mithu, and Lucy Lim. "Audit fee trends from 2000 to 2014." American Journal of Business 33, no. 1/2 (April 3, 2018): 61–80. http://dx.doi.org/10.1108/ajb-10-2016-0033.
Full textAbstract:
Purpose Setting audit fees is a persistent source of stress for auditors who must, on one hand, comply with the increasing government regulations that generally cause costs to rise; and on the other hand, respond to client pressures to keep audit fees down. In the post-scandal environment of Enron, WorldCom, and the demise of Arthur Andersen, policy makers have introduced additional costs for auditors by increasing regulations and creating a new industry watchdog – the Public Company Accounting Oversight Board (PCAOB). In this environment of constant pricing-cost tension for the auditor, the purpose of this paper is to examine audit fee trends over an extended period, 2000-2014. Design/methodology/approach The authors calculate the unexpected audit fees using the audit fee model. The authors examine audit fee trends while controlling for changes due to inflation, auditor wages, and other audit fee determinants. Findings The key findings indicate that audit fees increased in response to the promulgation of new audit regulations requiring additional audit work, the Sarbanes-Oxley (SOX) Act of 2002 and Auditing Standard No. 2 in 2004. Additionally, the authors find that audit fees decreased after new regulations alleviating audit work, namely the passage of Auditing Standard No. 5 in 2007, and remained unchanged when new regulations had a minimal impact on audit work, namely the Dodd-Frank Act of 2010. Practical implications The findings of this research are relevant to audit clients, auditors, and regulators as they weigh the cost and benefits of significant new audit regulations and their impacts on audit fees. Originality/value Using the more recent US data, the results in this paper show how events changed audit fee trends in recent years. The findings indicate that audit fees increased after the passage of new audit regulations such as the SOX Act of 2002, Auditing Standards No. 2 in 2004, and decreased after the passage of Auditing Standards No. 5 in 2007.
46
Popoola, Oluwatoyin Muse Johnson. "Preface to the Third Issue of Indian-Pacific Journal of Accounting and Finance." Indian-Pacific Journal of Accounting and Finance 1, no. 3 (July 1, 2017): 1–3. http://dx.doi.org/10.52962/ipjaf.2017.1.3.20.
Full textAbstract:
I have the honour and privilege to welcome you to the Vol. 1 Issue 3 of Indian-Pacific Journal of Accounting and Finance. In this Issue 3, the journal emphasises on accounting information system, corporate governance and risk management, accounting regulation and financial reporting, and accounting.
In the first paper with the caption “Examining AIS Software and Co-operatives Performance in Malaysia”, Mr Mohd Hadzrami Harun Rasit (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) and Dr Mohammad Azhar Ibrahim (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) examine the use of Accounting Information System (AIS) software in the context of Malaysian co-operatives. The objectives of this paper are categorised into two, namely: to document the types of AIS software used by co-operatives, and to examine the relationship between the types of AIS software used and performance of the co-operatives. Furthermore, the paper draws on the resource-based view (RBV) to examine the gap issue. Findings from this study suggest that commercial and developed-in-house AIS software are mostly used by co-operatives. Also, the results reveal that co-operatives performance is not associated with the types of AIS software used by the co-operatives. The research provides valuable insights into the implementation of AIS among Malaysian co-operatives, which has received little attention thus far from academic, governmental and professional bodies.
In the second paper with the title “A Review of Financial Distress Prediction Models: Logistic Regression and Multivariate Discriminant Analysis”, Mr Ehsan ul Hassan (School of Economics, Finance and Banking, Universiti Utara Malaysia), Dr Zaemah Zainuddin (School of Economics, Finance and Banking, Universiti Utara Malaysia), Dr Sabariah Nordin (School of Economics, Finance and Banking, Universiti Utara Malaysia) present a review of literature for early prediction of financial bankruptcy. The study contributes to the formation of a systematic review of the literature regarding previous studies done in the field of bankruptcy. It addresses two most commonly used financial distress prediction models, that is, multivariate discriminant analysis and logit regression. Models are discussed with their advantages and disadvantages. After methodological review, the authors advance that logit regression model (LRM) might perhaps have more advantages than multivariate discriminant analysis (MDA) for better prediction of financial bankruptcy. However, accurate prediction of bankruptcy is beneficial to improve the regulation of companies, to form policies for companies and to take any precautionary measures if any crisis is about to come in future.
In the third paper captioned “Accounting Regulation and Financial Reporting Quality: Pre-and-Post IFRS Nigeria Evidence”, Philip Jehu (Federal University Kashere, Gombe, Nigeria) and Dr Mohammad Azhar Ibrahim (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) examine whether accounting regulation is associated with financial reporting quality in Nigeria. The authors use accrual-based earnings management construct – abnormal accruals as a proxy for financial reporting quality. The study reveals some significant variation in abnormal accruals with the implementation of International financial reporting standards (IFRS) to regulate accounting practice. Similarly, the research finds that the control variables - firm size, leverage, and return on asset have significant effects on financial reporting quality. This study aligns and consistent with previous studies indicating the effectiveness of IFRS adoption in improving financial reporting quality. The study contributes to the discussion on IFRS adoption across reporting environments. Regulatory agencies in Nigeria might need to consider the combined effect of other corporate governance laws to ensure quality reporting. The study is limited by our sample (2009 - 2014), and by the proxies for both accounting regulation and financial reporting quality, the data of which was in most part handpicked. The authors recommend future research to consider perhaps testing the combined effect of other corporate governance variables like audit committees and board characteristics.
In the fourth paper entitled “Investigating Ownership Structure, Company Characteristics and Online Environmental Disclosure in Malaysia”, Dr. Ali Saleh Ahmed Al_arussi (Xiamen University Malaysia) and Dr. Redhwan Ahmed Al_dhamari (Tunku Puteri Intan Safinaz School of Accountancy, Universiti Utara Malaysia) focus on environmental disclosure on the Internet and examine whether ownership structure and company characteristics have a significant association with the level of Internet environmental disclosure (IED) amongst Malaysian companies. Six variables – management ownership, government ownership, firm size, level of technology, industry type, and profitability – have been chosen to be examined in this study. Multiple regression analysis is used to test these relationships by analysing the data of 201 online annual reports on the websites of Malaysian companies. The results indicate that government ownership, firm size, level of technology and industry type are positively and significantly associated with IED; management ownership is negatively and significantly associated with IED, and profitability did not show a significant relationship. The results of this paper can be used by regulators to enhance and regulate online environmental reports as it is still voluntary based.
In the fifth paper with the title “Examining the Livelihood Assets and Sustainable Livelihoods among the Vulnerability Groups in Malaysia”, Dr Ahmad Zubir Ibrahim (School of Government, Universiti Utara Malaysia), Dr Kalthum Hassan (School of Government, Universiti Utara Malaysia), Dr Roslina Kamaruddin (School of Economics, Finance and Banking, Universiti Utara Malaysia), and Associate Prof. Dr. Abdul Rahim Anuar (School of International Studies, Universiti Utara Malaysia) investigate the relationship between livelihood assets and sustainable livelihoods. The study is in response to the livelihood vulnerability group such as paddy farmers, coastal fishers and rubber tappers in rural areas, which are susceptible to economic shock and climate change such as flood and drought. This condition will, no doubt, jeopardise the livelihoods of this group and hence the research gap. This study adopts quantitative study with stratified sampling method to select a total of 600 respondents from rural areas in Kedah and Kelantan. The findings confirm that physical asset, natural asset and social asset are significantly related to the achievement of sustainable livelihoods. Some recommendations have been highlighted to assist the concerned parties in improving sustainable livelihoods among the vulnerable group in rural areas.
As you read through this Vol. 1 Issue 3 of IPJAF, I would like to summarise that the success of the journal depends on your active participation and those of your colleagues and friends through submission of high-quality articles within the journal scope for review and publication.
I beseech our revered authors to enjoy the benefits IPJAF provides about mentoring nature of the unique review process that offers high quality and helpful reviews tailored to improving their manuscripts.
I acknowledge your support as we endeavour to make IPJAF the most authoritative journal on accounting and finance for the community of academic, professional, industry, society and government.
47
Yelnikova, Julia, and Abdul Rahman Barhaq. "Transparency of Responsible Investment Environment." Business Ethics and Leadership 4, no. 4 (2020): 68–75. http://dx.doi.org/10.21272/bel.4(4).68-75.2020.
Full textAbstract:
The study deals with measuring the investment environment transparency for responsible investment, assessing it in Ukraine, and improving it through the rating means in sustainable development. There are ratings, rankings, indices, benchmarks and sustainable development standards as unique markers in responsible investment markets, considering the ESG − criteria for screening companies. The authors prove that ratings are tools for minimizing information asymmetry at the micro and macro levels, which is quite significant, especially in the responsible investment field. Rating is a leading factor in creating a transparent environment for investment decisions and ensuring a favorable investment climate in the world (considering the sustainable development ratings and progress towards sustainable development) and the investment attractiveness of companies (considering ESG − reporting criteria on sustainable development of companies). The authors pay much attention to the world’s sustainable development ratings, which incorporate the transparency component of the investment environment. The authors analyze Ukraine’s position in these rankings and conclude that its status and investment attractiveness are deteriorating in the international arena, particularly due to insufficient transparency of the investment environment, perception of corporate social responsibility and weak progress towards the Sustainable Development Goals. Structural and dynamic analysis of the signatories and participants of the UN Global Compact network in Ukraine confirm this thesis. Despite the positive dynamics of network members, especially in recent years, their number and composition are unrepresentative towards companies, financial sector institutions, NGOs and government organizations as leaders in the values of sustainable development and social responsibility in Ukraine. Consideration of the European countries’ experience embodied in the new EU investment plan, comprising three areas and ten measures aimed at mobilizing 650 billion euros of investment in sustainable development and the investigations made by a supranational organizations network (OECD, UN Development Program, the Sustainability Accounting Standards Board). The Global Reporting Initiative, the International Finance Corporation, the Global Impact Investing Network, and other stakeholders are essential steps in increasing Ukraine’s investment environment transparency. Ensuring environment transparency of the responsible investment by introducing methods of ranking companies and countries considering their social responsibility and achievements in the sustainable development field and its goals, standardization of products, techniques and strategies of responsible investment are key priorities of Ukrainian state investment policy. Keywords: Transparency, Investment Environment, Information Asymmetry, Ranking, Sustainable Development, Responsible Investing.
48
Gallagher, Michael J., and Emily F. Gallagher. "Net Pension Liability Impact on School Districts after Incorporation of Governmental Accounting Standards Boards (GASB) Statement Number 68." Journal of Business Administration Research 2, no. 1 (March 14, 2019). http://dx.doi.org/10.30564/jbar.v2i1.407.
Full textAbstract:
This paper analyzes twenty school districts in the state of Pennsylvania and applies ratio analysis to understand the potential effect of GASB number 68 on the financial statements of these entities. The financial statements were picked on a random basis from the Electronic Municipal Market Access [1] database. EMMA is a research and data retrieval system of the Municipal Securities Rulemaking Board (MSRB). The MSRB provides resources to trade municipal bonds and access to the financial statements of entities selling these securities. The paper was developed as a result of the requirement by GASB to “recognize their long-term obligation for pension benefits as a liability for the first time, and to more comprehensively and comparably measure the annual costs of pension benefits” [2]. The public schools in Pennsylvania incorporated GASB number 68 for the fiscal year ended June 30, 2015 and restated the financial statements for the fiscal year ended June 30, 2014. The effects of these restatements created a situation where most of these districts now show a negative fund balance caused by an increase of liabilities of over one hundred percent. Many of the decision makers are uncertain of the long-term changes that this recognition will have on the operations of the school district. Bond ratings have suffered because of the volatility and uncertainty causing negative effects on the balance sheet, increased current recognition of pension expenses, and a possible interest rate increase. All of these effects are illustrated in this paper. This is at a time where many people are questioning the performance of many of the school districts.
49
Lutz, Shannon, Treba L. Marsh, and Lucille G. Montondon. "An Analysis Of The Readability Of The MD&As Of Small, Medium, & Large Revenue Generating Cities." International Business & Economics Research Journal (IBER) 2, no. 8 (February 25, 2011). http://dx.doi.org/10.19030/iber.v2i8.3828.
Full textAbstract:
Studies assessing the annual reports of publicly held corporations have shown mixed results in regard to the readability levels of those reports. Recently, the Governmental Accounting Standards Board adopted GASB 33, 34, and 35 in which specific guidelines are outlined for the reporting of governmental entities. Are the Comprehensive Annual Financial Reports (annual reports) of the governmental entities understandable to the average user?This study argues that the Managements Discussion and Analysis, the summary portion of the governmental annual report, is not understandable to the average reader. The sample was equally divided among small, medium, and large revenue-generating cities that were early adopters of GASB 34. Readability was determined using the Flesch-Kincaid readability formula from the GRAMMATIK II software. The results show that the Managements Discussion and Analyses are understandable to the average twelfth grade reader. Furthermore, the writers style and sentence structure remained at a level consistent with the readability level.
50
Mursida, Safrinia, and Wisnu Panggah Setiyono. "The Effect of the Application of Government Accounting Standards, Apparatus Competence, the Role of Internal Audit and the Internal Control System on the Quality of Information on Local Government Financial Statements." Academia Open 5 (August 21, 2021). http://dx.doi.org/10.21070/acopen.5.2021.1941.
Full textAbstract:
This study aims to determine the effect of the application of Government Accounting Standards,Apparatus Competence, the Role of Internal Audit and the Internal Control System on the Quality of Information on Local Government Financial Statements. The object of this research is all Auditor Functional Officials in the Inspectorate of East Java Province. The research sample was 55 respondents. The sampling method used was purposive sampling. The data analysis method used is multiple linear regression which is then obtained using SPSS 25 software. The results of this study prove that the application of government accounting standards, apparatus competence, the role of internal audit and the internal control system partially has a significant effect on the quality of information on local government financial statements. The conclusion of this study found that to be able to improve the quality of financial report information in the Provincial Government of East Java, it can be done through the effectiveness of review activities on financial statements before the report is submitted to the Republic of Indonesia Audit Board.