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CSR disclosure practice in France: A Habermasian Perspective

Author(s): A. Muhammad,Charaf Karim / Language(s): English Issue: 3/2016

In this study, we have explored various patterns of CSR disclosure amongst the listed French companies. We have made use of communicative approach, which combines stakeholder theory with the Habermas’ discourse ethics in order to offer better understanding of the dynamics of CSR disclosure. Our results reveal that French companies focus on employees and the environment as the most important stakeholders in CSR disclosure. A number of differences between our findings and the existing literature have been observed. We have reached to the conclusion that societal expectations and stakeholder relations, in part, account for these differences.

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Impact of the IFRS on the disclosure of income tax figures by Romanian listed companies

Author(s): Costel Istrate / Language(s): English Issue: 3/2016

The transition to IFRS in Romania, in the separate financial statements (in 2012) led to the application of new rules in the accounting for income tax. We found significant differences between accounting and taxable income, which can suggest a trend towards more de facto disconnection between accounting and taxation. Deferred tax liabilities are more present than deferred tax assets in the listed companies’ balance sheet, even if the weight of these liabilities is less important that the weight of the deferred tax assets. The effective tax rate (calculated in three ways: with total tax, current tax and cash paid tax) is, in most cases, higher that the Romanian statutory rate. As expected and consistent with several previous studies, fixed assets are the main source of temporary differences and, thus, of deferred tax assets and liabilities. The main contribution of the paper consists in filling a gap in the literature on the impact of the IFRS in Romania, in the special topics concerning income taxes (current and deferred), in the measure of the difference between net accounting income and taxable income, as well as in calculating and interpreting the effective tax rate for the Romanian listed companies.

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Study of the congruence between accounting numbers and stock market variables through comprehensive income: Empirical evidence for Romania companies quoted on the regulated market

Author(s): Marilena Mironiuc,Maria Carmen Huian / Language(s): English Issue: 3/2016

This research is a hypothetical-deductive study whose purpose is to analyse if, in the case of non-financial companies quoted on the regulated market of the Bucharest Stock Exchange, the reporting of the information on Comprehensive Income is relevant for the investors. The present paper also aims to identify several degrees of value relevance for Comprehensive Income, in direct correlation with the informational value of certain stock return indicators for the investors. For the analysed population and for the time horizon taken into account, we noticed that Other Comprehensive Income per Share, the variance of Other Comprehensive Income per Share and the Differences from the revaluation of tangible and intangible assets in relation to the investment per share are expressive predictors for the investors on the financial market. The ranking of the effects of reporting the information on Other Comprehensive Income expresses the most visible relevance in Goodwill Per Share, then in the Share Price and, thirdly, in Total Shareholder Return.

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SIMILARITIES AND DIFFERENCES BETWEEN COMPANIES ACCOUNTING AND TERRITORIAL ADMINISTRATIVE UNITS ACCOUNTING

Author(s): Cristina Mihaela Nagy,Crăciun Sabău / Language(s): English Issue: 21/2015

Similarities between the accounting of companies and territorial administrative units accounting are the following: organizing double entry accounting; accounting method both in terms of fundamental theoretical principles and specific practical tools. The differences between the accounting of companies and of territorial administrative units refer to: the accounting of territorial administrative units includes besides general accounting (financial) also budgetary accounting, and the accounts system of the budgetary accounting is completely different from that of companies; financial statements of territorial administrative units to which leaders are not main authorizing officers are submitted to the hierarchically superior body (not at MPF); the accounts of territorial administrative units are opened at treasury and financial institutions, accounts at commercial banks being prohibited; equity accounts in territorial administrative units are structured into groups of funds; long term debts have a specific structure in territorial administrative units (internal local public debt and external local public debt).

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The effectiveness of internal audit in Jamaican commercial banks

Author(s): Delroy Chevers,Devon Lawrence,Arlene Laidlaw / Language(s): English Issue: 3/2016

Banks play a vital role in every economy as they hold the savings of the public, provide a means of payment for goods and services, and finance the development of businesses. The financial sector experienced a meltdown, which some critics argued was the result of inadequate regulatory oversight from regulatory bodies and the auditing function. This highlights the ever-increasing attention which should be placed on internal control systems and the critical role being played by the internal audit function in ensuring that weaknesses are minimized and that exposures to risks are adequately identified and managed. Banks in developing countries and especially those in Jamaica might find it difficult to absorb such failures due to severe resource constraints. As a result, this study seeks to investigate the factors that influence the effectiveness of the internal audit function in Jamaican commercial banks. The study found that the quality of audit investigation, organizational independence, professional proficiencies and management support have a significant impact on internal audit effectiveness. It is imperative that the various stakeholders and policy makers understand the important role internal audit plays in the financial viability and financial health of any financial institution.

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An original assessment tool for transparency in the public sector based on the integrated reporting approach

Author(s): C. A. Stefănescu,Tudor Oprişor,Mara Andreea Sȋntejudeanu / Language(s): English Issue: 3/2016

This paper aims to provide a transparency assessment tool, highlighting the importance of disclosing qualitative information to stakeholders to increase accountability in the public sector. The agency theory, stakeholders and legitimacy theory underpinning transparency in reporting as an enabler of public accountability ensure a more holistic approach in developing the disclosure framework. The main contribution of this paper relates to its methodology, comprising both quantitative and qualitative disclosures. The quantitative index was developed by overlapping the indicative metrics from the GRI guidelines and the structure of the six capitals defined by the integrated reporting framework. Furthermore, the information comprised under each capital has been analyzed by applying the qualitative characteristics of information recommended (GRI and IR), each one being deconstructed into several evaluation criteria. This study has practical implications, providing an assessment tool for enhancing public accountability throughout greater transparency in reporting by offering interesting opportunities for further empirical studies.

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The relationship between the risk management practices and financial performance of the Nigerian listed banks

Author(s): Oyerogba Ezekiel Oluwagbemiga,Ogungbade Oluyinka Isaiah,Idode Patrick Esiemogie / Language(s): English Issue: 3/2016

We examine the relationship between the risk management practices and financial performance of the listed companies in Nigeria for the period of ten year from 2005 to 2014, with a particular attention on the 21 deposit money banks. Specifically, the study investigates how risk limit setting, risk adherence monitoring, risk policy review, credit risk management, operational risk management and market risk management has impacted the financial performance of listed banks in Nigeria. We employ both the primary (survey questionnaire) and secondary (audited financial statement) as sources of data. The overall results reveals that risk management practices have a statistically significant impact on financial performance. The results also reveals the trend in risk management practices in other developing economy such as Ghana, Pakistan, Kenya, Thailand, Tehran and the current global practices in Serbian and United state as presented in the literature review. This result leads to a recommendation that adequate risk management system should be put in place by the board of directors which should include the establishment of company’s annual risk limit, risk appetite and risk strategy to curtail the excessive risk taking of the management. This system should be reviewed regularly to determine its adequacy, effectiveness and compliance level of the management with this risk management system.

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Big Data: are accounting educators ready?

Author(s): Pandula Gamage / Language(s): English Issue: 3/2016

This paper explores the latest developments in Big Data and its impact on accounting education. As such, it reviews Big Data developments with specific reference to the accounting profession. It also presents some of the initiatives taken by the professional accounting bodies and universities to address Big Data topics in the accounting curriculum. The findings suggest that Big Data will have an impact on the future role of accounting professionals. Therefore, this study proposes that Big Data topics be embedded in existing courses across accounting curricula to prepare twenty-first-century accounting professionals with skills related to Big Data analytics.

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CEO compensation and firm’s cash holding: A pitch

Author(s): Muhammad Atif / Language(s): English Issue: 3/2016

This letter discusses the application of a pitch using Faff (2015a) pitching template, with intention to refine my idea and develop it in a systematic fashion. I find the pitching research template interesting; by applying it to my study that enhances the thought process and helps in precisely developing the idea before presenting it anywhere and starting work on the project. This PRL includes the brief commentary on personal reflection as few sections are quite daunting for junior researchers, but continual discussion is the key to refining the idea.

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Conceptualizing Schwartz values in university preference decisions: A pitch

Author(s): Asma A. Qureshi / Language(s): English Issue: 3/2016

This reversed engineering pitching letter is an outcome of the courseRBUS6914 course studied at The University of Queensland. The letter is written using Faff (2015a) template to present the exploratory relationship personal values of the students and their decisions for making a choice for their university study.The letter includes a brief commentary and personal reflection of the pitching process.

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A study of industry cost of equity in Australia using the Fama and French 5 Factor model and the Capital Asset Pricing Model (CAPM): A pitch

Author(s): Tariq Haque,Will Mackay / Language(s): English Issue: 3/2016

This paper describes the use of the Faff (2015) pitching template to formulate a research concept into a formal research proposal. It outlines our experience in applying the various sections of the pitch template and the challenges experienced in doing so. Overall the adoption of the pitch template has significantly improved our approach to developing research projects.

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The impact of online corporate reporting quality on analyst following and properties of their EPS forecasts

Author(s): Ahmed Saleh,Clare Roberts / Language(s): English Issue: 1/2017

This paper investigates the impact of the quality of online corporate reporting (OCR) by UK listed firms on analyst behavior. Using a proposed new OCR index, we find that higher quality of OCR is related to increased analyst following. Additionally, we find that the main OCR component that drives analyst following is financial information content. However, we find no association between the quality of OCR and properties of analyst EPS forecasts as proxied by error in analyst EPS forecasts, dispersion in analyst EPS forecasts and common uncertainty in analyst information environment. We also investigate the direction of causality between OCR quality and analyst following and find that the later has no impact on the first. Furthermore, we find no evidence that herding behavior by financial analysts in the UK has interrupted the association between the quality of OCR and forecast properties. Our results contribute to the understanding of the role of analysts as information intermediaries in providing information to investors.

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What explains changes in accounting divisional performance under liquidity shortage conditions? Evidence from the Greek Banking

Author(s): Eleftherios Aggelopoulos / Language(s): English Issue: 1/2017

This is the first study which tests empirically to which extent the quality and the spread of consumer and small business loans are responsible for the increases or decreases in branch accounting performance, measured by the Residual Income (RI) performance indicator, over time. Moreover, given extreme liquidity shortage conditions the paper investigates to which extent the above factors are responsible for changes in RI. Unique accounting information derived from the Management Information System (MIS) of a Greek systemic commercial bank is utilized. The study finds that lending spreads for both types of loans are positively and statistically significant related to RI. The crisis increases the positive value effect of consumer lending spreads while reduces the value premium of small business lending spreads. The latter indicates that the upward repricing of small business credit lines during crisis years seems to destroy value due to the side effects that the repricing loan policy activates (i.e. reduces the repayment ability of borrowers). Moreover, the enormous increase of loan loss impairments during crisis exercises an extra negative impact on RI thus further accelerating shareholder value destruction, for both loan portfolios. The study provides useful information about the thorough understanding of the quality of banking performance at the retail level in bank-driven crisis economies.

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From the accounting of war to the accounting of peace: putting bricks for a new environmental accounting. A critical analysis

Author(s): Paul Diaconu / Language(s): English Issue: 1/2017

This paper critically examines the potential movement from accounting of war to accounting of peace. The 20th century capitalist economy developed in the war, and also stimulated the war. In contradiction with the current state of facts, some economists such as Vandana Shiva promote the idea of creating an earth democracy, which is intended to accept equality of rights between the humans and other species, and to organize life so that to protect the environment against any human aggression. Accounting, as a tool of evaluation and presentation of economic information, was involved directly in the manifestation of human aggression, under its various forms, in the capitalist society. By considering as main value the concept of profit, a whole range of issues related to the environmental preservation and the limitation of natural resource were neglected. Thus, the accounting presented the resources under the form of operating costs, and not as capital. Nature was considered as an unlimited resource, and not as a value that should be kept and maintained in the future. The new paradigm might be called accounting of peace. The paper discusses how accounting has to redefine its concepts to support earth democracy and the proposed natural sustainable economy. Accounting, as a tool of force for war, did nothing but stimulate the aggressive behaviour of the world leaders, and also of the multinational corporations.

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Offshoring Accounting Services: New opportunities for developing countries

Author(s): Jadranka Mrsik,Ninko Kostovski / Language(s): English Issue: 1/2017

The aim of this paper is to explore the viability of off-shoring of accounting services to foreign companies by providers of such services located in Republic of Macedonia. We have assessed the potentials of accountants in Republic of Macedonian to offer off-shored accounting services by using the criteria for assessment of outsourcing destinations in general as established by the McKinsey Institute. We have founded that there is considerable potentials for off-shoring of accounting and related services. Exploitation of these potentials would result in significant contribution to the accounting profession development and the employment of young graduates in accounting. In these terms, we offer some practical recommendations to the profession and to the policy-makers for further promotion of this business opportunity.

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Solid Knowledge Management – The ingredient companies need for performance: A Romanian insight

Author(s): Victoria Stanciu,Andrei Tinca / Language(s): English Issue: 1/2017

The paper explores knowledge management (KM) through the accounting and auditing field, emphasizing the authors’ research results designed to examine the Romanian firms’ perspective on KM. The authors strive to understand how the audit firms manage their knowledge aiming at providing quality services with added value. The important changes in auditing and accounting standards and national regulations and the dynamic of the profession in the Big Data era determine the need of a continuous process of information gathering and storage next to the increase of accountants and auditors’ expertise and skills. The investigation revealed an insufficient understanding of KM concept and lack of focus on KM process implementation, this being the consequence of the numerous small and medium accounting and auditing firms, limited investments in IT tools for audit and KM purposes and insufficient training on KM issues. The paper contributes to the KM and auditing literature by demonstrating the need to urgent the implementation of KM systems in Romanian audit firms and providing suggestions in this regard.

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An examination of customer loyalty and customer participation in the service recovery process in the Pakistani hotel industry: A pitch

Author(s): Hafiz Ahmad Ashraf,Nauman Manzoor / Language(s): English Issue: 1/2017

This pitch research letter (PRL) applies the pitch template developed by Faff (2015) to an academic project on customer loyalty and customer participation in the service recovery process in the hotel industry of Pakistan. The pitch template helped the pitchers to identify the core elements that form the framework of the research project. This PRL provides a brief background about the pitchers and pitch, followed by a brief commentary on the pitch and personal reflections of the pitcher on the pitch exercise itself.

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Механізм управління дебіторською заборгованістю підприємства

Author(s): Halyna Yamnenko / Language(s): Ukrainian Issue: 02/2017

The relevance of the accounts receivable management is caused by its ability to influence on the filling of the company working capital. Therefore it is necessary to create a specific mechanism for management of accounts receivable in the company. The article analyses the components of the mechanism and the influence of factors that significantly affect the operation. The result of the functioning of the accounts receivable management is to receive funds and to minimize accounts receivable.

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Međunarodne klasifikacije računovodstvenih sustava kao posljedica utjecaja različitih čimbenika okruženja

Author(s): Ivo Mijoč,Tadija Vrdoljak / Language(s): Croatian Issue: 2/2012

Activities of various environmental factors resulted in the emergence of accounting clusters that include equal or similar countries, observed through evaluation (measurement) criteria and publishing, which has led to group formation, i.e. clusterisation of accounting systems within similar or equal groups, subgroups and clusters. The key principle of group formation of accounting systems within certain clusters implies similar accounting practices, primarily the practice of measuring (evaluating) positions and publishing information in financial reports. The measurement level and the quantity of published information is related to the environmental factors, primarily to cultural heritage, which, according to claims of numerous authors, is of crucial importance. If accounting practices of the compared countries are observed according to this factor, then it is possible to form at least two or more clusters, which is significant in the world of financial reporting as there are some controversies in the relation between IASB and FASB even today.

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Editorial. Small and Medium-sized Entities Reporting in Central and Eastern Europe

Author(s): Cătălin Nicolae Albu,Karol Marek Klimczak / Language(s): English Issue: 2/2017

This special issue of the journal of Accounting and Management Information Systems groups recent research into reporting by Small and Medium-sized Entities (SMEs) in four countries of Central and Eastern Europe (CEE), namely Poland, Romania, Slovenia and Turkey. SMEs represent the vast majority of entities in many jurisdictions around the world, contribute significantly to the economic development and employ a significant number of staff in their totality, despite overcoming sometimes severe difficulties in accessing funding, staffing or procuring resources to secure their survival and development. The editorial introduces the special issue by outlining the motivation that led to its publication, the common themes and the contribution of the papers presented, and by suggesting some future research avenues in light of recent developments. We strongly encourage our readers to discover the commonalities and differences that characterize the business and reporting environment of SMEs across the CEE region, as well as the diversity of approaches and practice existing in the region.

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