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An investigation into the effectiveness of finance committees at schools / Ntombizodwa Moudrick MakiriMakiri, Ntombizodwa Moudrick January 2014 (has links)
This study intended to explore the effectiveness of finance committees at schools. A qualitative design, using interviews with purposely selected participants made up of fifteen school principals and ten finance officers in the Sedibeng Districts of the Gauteng Department of Education was used for data collection. This was aimed at exploring how effective school finance committees are and to recommend ways of improving their effectiveness in executing their financial management function. The literature study exposed the conceptual framework and essence of the functional effectiveness of school finance committees, which laid the basis for the empirical study. The empirical study was based on the social constructivist paradigm with the phenomenological approach as the strategy of enquiry. Findings of the study indicate that school finance committees are generally structured in line with policy directives. It was also found that the performance and attitudes of office-bearers of finance committees affected the effectiveness of finance committees. Firstly and for various reasons, principals as ex-officio members generally played a dominant role in finance committees. Reasons include their perceived ‘high‘ level of knowledge regarding financial management and the lack of knowledge and skills of other finance committee members to execute their responsibilities. Secondly, finance committee effectiveness was found to be negatively affected by poor budgetary processes – from the planning process to the implementation and monitoring, which include weaknesses in financial administration and reporting as well as evaluation of the budget implementation process. As a result, the management of funds was often characterised by budget variances and the need for virement. Recommendations of the study address the need for intensive capacity-building for finance committee members in specific areas of their roles and functionality. This must be accompanied by constant monitoring by Departmental development and support officers responsible for school governance. In this regard, there must be a feedback and system that enables corrective action to be taken as soon as signs of poor performance emerge. Finally, it is recommended that the structure of the finance committee be reviewed, especially as it concerns office-bearers. In this regard, it is recommended that finance officers be charged with the responsibility of financial administration and not double up as secretaries of school governing bodies. / MEd (Education Management)--North-West University, Vaal Triangle Campus, 2015
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An analysis of the disclosure of financial instruments by selected companies on the JSE LimitedHaji, A.M., Marx, B., Coetsee, D. January 2014 (has links)
Published Article / The financial crisis of the 21st century arising from the credit and sub-prime crisis has resulted in the accounting for financial instruments being placed under intense scrutiny. In reaction to this, the International Accounting Standards Board commenced a comprehensive review of financial instruments and the related accounting standards. This article analyses the disclosure of financial instruments by performing a literature review of the principles underlying financial instruments disclosure, followed by an empirical study of the current practices of the disclosure of financial instruments by selected companies on the JSE Limited. This article indicates that in certain aspects of the disclosure practices related to financial instruments, the "through the eyes of management" approach is not followed in the companies selected - a principle established in International Financial Reporting Standard 7 (IFRS 7).
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A grounded theory analysis of the pre-measurement phase for the accounting recognition of assetsEl Tawy, Nevine Abdel Halim January 2010 (has links)
This thesis induces a theory for the pre-measurement phase of the asset recognition process in the financial reporting domain centred upon the use of the induced artefact-based asset recognition criteria which are applicable to all assets. In common with standard-setting bodies, such as the International Accounting Standards Board (IASB), I adopt a social constructionist stance (Miller, 1994). It is one that is constructed from a process of consultation. I consult in order to, first, explore the accounting asset recognition process from a conceptual point of view and, second, so that my social construction in that regard can be legitimised, for the most part, on the basis of a consensus of those consulted. However, unlike the standard setters‘ regulatory process, my analysis is structured using a grounded theory approach. The target audience comprises those experts who have been and/or who are currently involved in some way with the development of the IASB‘s conceptual framework (CF) project, including IASB board members. Different data collection methods were adopted combing both qualitative and quantitative data. In respect of the qualitative research, I carried out two sets of interviews. The first set was conducted with Canadian Accounting Standards Board members in May 2008 and International Accounting Standard Board members in June, 2008. The second set was conducted with more International Accounting Standard Board members, UK-Accounting Standard Baord members and other experts within the area being studied. These two sets of interviews were useful for determining the preliminary concepts and categories in the open coding and axial coding structure. In respect of the quantitative research, the concepts and categories raised from the first two sets of interviews were then used to construct an on line questionnaire. The questionnaires were emailed to national standard setters in Canada, the USA, Australia, Germany and the United Kingdom. This has been followed up with an interview with UK ASB director to help in finalising the theory saturation and to validate the reliability of the generated theory. The generated theory demonstrates a three-circled set of criteria for the pre-measurement phase of an asset recognition process. The three-circled set of asset recognition criteria presented in this thesis breaks free from the narrow definitional and rule based perspective of accounting epistemology to offer an alternative view based on the recognition of artefacts.
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An investigation into the impact of revising the accounting treatment of intangible assets on information technology value perceptionVan Rooyen, Nathan 12 1900 (has links)
Thesis (MBA)--University of Stellenbosch, 2010. / ENGLISH ABSTRACT:
The purpose of this study was to determine the impact possible revisions to the international
accounting standard (IAS) for intangible assets, under international financial reporting standards
(IFRS), could have on the perception of value of information technology. Furthermore, the study
discusses the fact that value of IT is still a debate and asks the question why. The use of the term
information technology capability in IT research is used in many different contexts. The study also
tested a framework that could possibly be used to view IT capability as, and used this framework to
ascertain how accounting treatment of IT capability is happening in practice.
The study is exploratory in nature since the impact of the possible revisions on IT capability is a
current event. The revisions are in a second round of discussion and as such this study could
provide insight to the discussion regarding the possible influence on IT capability. The revisions
primarily focus on the recognition and measurement of internally generated intangible assets. It is
currently being proposed that internally generated intangible assets be recognised as it would
during a business combination at any point and also that fair value be considered as an alternative
to the cost basis during initial recognition. While those are the most significant revisions, the
discussion paper makes minor proposals regarding the identification of intangible assets and
makes no suggestions regarding disclosure. A number of CIO’s and CFO’s or their direct delegates
were interviewed to determine from a practitioner perspective what the impact of the revisions
could be from both a financial perspective and IT management perspective. The participants were
engaged through a semi-structured interview and the collective responses analysed for common
themes. The study found that while the debate around IT value still exists, from the participant’s
perspective, it centres on the fact that in the absence of appropriate performance measurement of
businesses, it is difficult at best to reflect how IT contributes value to the organisation.
The participants do not see the currently proposed revisions as being able to improve the
perception of value of IT. This is primarily due to the fact that the financial reports are not for
consumption of internal business stakeholders to whom CIO’s need to communicate the value
contribution. Secondly, the cost focus of the financial reports is acknowledged and as well as the
fact that increasing the uncertainty of values in financial reports due to subjective valuation of IT
capability, will detract from the integrity of the financial accounting and reporting. Lastly,
participants also recognised that it would be a significant revision if internally generated assets are
recognised in the same way as during business combinations and that the use of fair value during
initial recognition is allowed. As such the participants felt that it would be a long time before the
revisions move onto the next stage.
This pragmatic response indicated that the focus should rather be on ensuring business
performance is measured and IT capability measured through business measures. The study is
limited by focusing on organisations that do not create IT capability for resale. Also, the focus is on
internally generated IT capability, and excludes the process of acquiring IT capability through
merger and acquisition activity. Lastly, the focus has been limited to the impact of the revision on
IT value perception. Practically, given the fact that the revisions are not seen to create an
opportunity for IT value to be reported, practitioners are advised to focus on using benchmarking to
report IT value for the business-as-usual IT capability, in business terms. Furthermore, in terms of
ensuring the value of investment in IT capability is articulated, the upfront business case and
investment decision process must articulate the business benefits clearly and thereafter ensure
benefits tracking is done to measure the performance and value of the constituent parts that deliver
the benefits can be measured. This study has value since these particular concepts have not been
analysed in this way before. Previous studies have focused on certain elements of IT capability, or
organisations that create IT capability for resale, not internal use, amongst others. The originality
stems from linking accounting treatment to the definition of IT capability and investigating the
impact it has on how the value of IT is perceived. / AFRIKAANSE OPSOMMING:
Die doel van hierdie studie was om vas te stel wat die impak van moontlike hersienings van die
internasionale boekhoudingstandaard (IAS) vir ontasbare bates, volgens internasionale finansiële
verslagdoeningstandaarde (IFRS), sal wees op die persepsie van inligtingstegnologie (IT) se
waarde. Voorts bespreek die studie die feit dat die waarde van IT steeds 'n voortgaande debat is
en vra waarom dit die geval is. Die term inligtingstegnologievermoë in IT-navorsing word in
verskillende kontekste gebruik. Die studie het ook 'n raamwerk getoets wat moontlik gebruik kan
word om IT-vermoë holisties te bekyk.
Die studie is verkennend van aard aangesien die impak van moontlike hersienings op IT-vermoë
'n gebeurtenis is wat tans plaasvind. Die hersienings is tans in die tweede ronde van bespreking
en die studie sou insig kon verskaf oor die moontlike invloed van die bespreking op IT-vermoë.
Die hersienings fokus primêr op die erkenning en meting van intern gegenereerde ontasbare
bates. Tans word voorgestel dat intern gegenereerde ontasbare bates erken moet word soos dit in
'n besigheidskombinasie op enige punt erken sou word, en ook dat billike waarde oorweeg moet
word as 'n alternatief tot die kostebasis gedurende aanvanklike of inisiële erkenning. Terwyl
hierdie die mees belangrike hersienings is, sluit die besprekingsdokument kleiner voorstelle in oor
die identifisering van ontasbare bates, maar verskaf geen voorstelle oor die bekendmaking van
ontasbare bates nie. 'n Aantal hoof inligtingsbeamptes en hoof finansiële beamptes of hulle
direkte gedelegeerdes, is ondervra om vas te stel, vanuit 'n praktisyn se oogpunt, wat die impak
van die hersienings sou kon wees – gesien uit beide 'n finansiële en 'n IT-bestuursperspektief. Die
deelnemers is betrek deur 'n semi-gestruktureerde onderhoud en die kollektiewe response is
geanaliseer vir gemeenskaplike temas. Die studie het bevind dat, hoewel die debat rondom ITvermoë
steeds bestaan, vanuit die deelnemers se perspektief, die debat sentreer rondom die feit
dat in die afwesigheid van toepaslike prestasiemeting van besighede, dit op sy beste moeilik is om
te besin oor hoe IT waarde bydra tot die organisasie.
Die deelnemers sien nie in dat die voorgestelde hersienings by magte sal wees om die persepsie
oor die waarde van IT te verbeter nie. Dit is primêr as gevolg van die feit dat die finansiële verslae
nie beskikbaar is vir interne besigheidsbelanghebbers nie aan wie hoof inligtingsbeamptes die
waardebydrae moet kommunikeer. Tweedens word die kostefokus van finansiële verslae erken,
asook die feit dat om die onsekerheid van waardes in finansiële verslae te verhoog weens die
subjektiewe waardasie van IT-vermoë, die integriteit van die finansiële boekhouding en
verslagdoening sal benadeel. Laastens het deelnemers ook erken dat dit 'n belangrike hersiening
sal wees indien intern gegeneerde bates op dieselfde manier erken word as gedurende
besigheidskombinasies en dat die gebruik van billike waarde gedurende aanvanklike erkenning
toegelaat word. As sodanig was die deelnemers van mening dat dit nog lang sal duur voordat die
hersienings na die volgende fase sal beweeg.
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Segmentrapportering : Är den relevant ur en analytikers perspektiv?Svedberg, Sandra, Jacobson, Sofie January 2008 (has links)
<p>Bakgrund och problemdiskussion: Med hjälp av segmentinformation kan analytiker bryta ned analysen av bolagen till en lägre nivå vilket borde resultera i säkrare analyser. Segmentinformationen är viktig för användarna av de finansiella rapporterna eftersom information om bolaget som helhet kan vara svår att utläsa. Vi har tagit del av tidigare forskning inom området,men vi har dock inte funnit någon forskning med samma syfte som vi har. Vi anser därför att segmentrapportering är viktigt och intressant att studera.</p><p>Syfte: Vårt syfte med denna uppsats är att utreda hur, bolag noterade på Stockholmsbörsen i branschen sällanköpsvaror och tjänster, utformat sina segmentrapporter i deras årsredovisningar samt hur relevanta, tillförlitliga och jämförbara de är. Vidare kommer vi att studera vad analytiker anser om rapporterna gällande dessa egenskaper med fokus på hur relevanta de är.</p><p>Metod: I denna uppsats använder vi oss av både kvalitativ och kvantitativ metod. Vi har genomfört tre besöksintervjuer med analytiker samt granskat 36 bolags segmentrapporter. Analytikerna har den specialistkunskap som krävs för att kunna svara på om relevansen är uppfylld för segmentrapporterna. Den kvantitativa metoden ger oss en annan synvinkel, den avspeglar hur bolagens segmentrapporter är utformade i verkligheten.</p><p>Analys och slutsatser: För att analytikerna ska kunna framställa bra analyser så krävs det att informationen från segmentrapporterna är tillförlitlig och jämförbar och därigenom relevant. Om segmentrapporterna inte är relevanta leder detta till att analytikernas analyser blir felaktiga. Risken med detta är att läsarna av rapporterna baserar sina investeringar på felaktiga grunder vilket kan leda till ekonomiska förluster för dem. Respondenterna hade varierande åsikter gällande segmentrapporterna, men vi har funnit att segmentrapporterna i branschen generellt sett är tillförlitliga och jämförbara. Med detta som grund kan vi fastställa att de flesta av de studerade segmentrapporterna är relevanta. Vi vill dock poängtera att det finns en viss variation gällande hur relevanta rapporterna är.</p><p>Nyckelord; segment, segmentrapportering, värdering, IAS 14, valuation, financial reporting,segment report(ing).</p>
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Earnings management and loss reversalMashoka, Tareq Zaki January 2010 (has links)
This research aims to detect and measure earnings management using a newly modified version of the standard Jones model (Jones, 1991). The standard model is extended to include a measure of discretionary accruals as an additional regressor instead of using the residuals. The variable used to measure discretionary accruals is a composite variable that consists of two components, one that represents the incentive and the other represents the tool of manipulation. The model is applied to detect earnings management in loss reversal companies for listed companies in Jordan and examine the market reaction to the loss reversal. The model is also applied on loss reversal companies for listed companies in the UK and the US. In chapter three, the new model is applied on listed companies in Amman Stock Exchange (ASE). The ASE is structured into two markets: the first market and the second market. Companies are motivated to be listed or remain listed in the first market since it only lists profitable companies. Companies reporting losses more frequently are listed in the second market. Results provide evidence of earnings management for companies listed in the first market. Companies that report a loss in a previous period manipulate in the following period to report profits. As a result of loss reversal, they preserve their place in the first market and avoid dropping back to the second market. This research conducts statistical simulation tests to compare the extended Jones model with the standard model. Results show that the extended model detects earnings management better than the standard one. This new model also separates discretionary accruals from measurement error (i.e. residuals) and makes it possible to accurately measure the whole amount of manipulation. Chapter four examines the investor reaction to the manipulation taking place in the first market. Results show that the market is pricing the discretionary accruals (the manipulation) as a component of net income, although they result only from earnings management. In chapter five, the model is applied on loss reversal firms listed in the UK and in the US. Results show that the companies manipulate to reverse losses and the manipulation depends on to the presence of R&D activities and the changing level in these activities.
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Financial Reporting in Poland: Privatization of Select Firms Traded on the Warsaw Stock ExchangeDe la Rosa, Denise M. (Denise Mary), 1949- 12 1900 (has links)
Poland's transition from a centrally-planned economy (CPE) to a market economy began in 1989. Building a market economy out of the failures of a CPE represents an unprecedented process in the history of economic development. At the core of the transition is the privatization of state-owned enterprises (SOEs). Many problems encountered during privatization are accounting related, and before privatization can occur valuation issues must be resolved.
What has been the role of accounting in Poland's transition? Accounting is an interactive process that reflects and creates reality. The accounting process facilitates the calculation of the value created by a firm by attempting to trace the flow of resources through the value-creating process, and it identifies, measures, records, summarizes, and reports transactions. How these transactions are internalized determines how they flow through the accounting process, and, because the former SOEs are complex organizations in transition, decisions concerning when and how to record events can be diverse.
The primary objective of this study is to provide insight into the accounting transition in Poland by addressing issues of ownership rights, valuation, financial reporting, and disclosure. The research question is: How is accounting transforming and being transformed in Poland? The research question is addressed in the context of the political and economic environment of three SOEs privatized and traded on the Warsaw Stock Exchange.
To identify the role accounting played, I examined the financial reports of three of the first Polish SOEs privatized, employing case study methodology. The analysis indicates that accounting facilitated the transition by creating capital with the overstatement of assets. The overvalued assets will have to be absorbed in future periods, and subsequent research should address this problem.
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Accounting in Football : A Study on the Human resource accounting of football players in AllsvenskanAkhlaque, Saba, Flouti, Elie January 2017 (has links)
Human resource accounting has grown in importance over the past few years as organizations that heavily rely on their labour force and their skills seek to account for them as assets to reflect their output. Football clubs fall into that category as players are vital for the success of the team. Accounting regulations such as the UEFA financial fair play exist in order to help football clubs account for their players as intangible assets on their balance sheets. However, there are uncertainties over the effectiveness of existing regulations as youth players and Bosman players for example are exempted and there are difficulties in specifying what it is that players account for. The authors study 4 clubs that compete in Allsvenskan as well as UEFA competitions in order to determine if Swedish teams present a fair and true value of their human resources. The authors find that despite the fact that balance sheets show a great degree of consistency between clubs and all meet minimum requirements set by ruling bodies, financial reporting in football still has some way to go in order to fully reflect the true value of players.
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Problematika finančního umístění v komerčních pojišťovnách / Financial placement in commercial insurance companiesTůmová, Klára January 2010 (has links)
The diploma work deals with a financial placement of commercial insurance companies in the Czech Republic. At first financial placement is defined according to the Insurance Act, including a description of its financial resources, technical reserves. The following chapters describe issue of financial placement from the perspective of Act on Accounting, namely the content of the item, recognition, initial and subsequent measurement. The Czech legal regulations are then compared with the International Financial Reporting Standards regulations. Described accounting principles regarding particular types of financial placement are applied to practical examples.
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Municipal budget oversight by multiple principals: A case study of the Western Cape provinceKhaile, Samuel Thabo January 2018 (has links)
Philosophiae Doctor - PhD / The transformation of local government in South Africa has established a complex model of multiple principals exercising municipal budget oversight on municipal managers. However, earlier research has not sufficiently focused on the phenomenon of the multiplicity of principals and its wider institutional architecture, relationship dynamics and effects in order to understand the institutional constellations of oversight principals, their behaviour and their interactions on the municipal budget process. Particularly, an empirical exploration focusing on understanding the experiences and perceptions of municipal managers and oversight principals on oversight through the multiple principal model remains elusive.
The aim of this study was to explore and describe the experiences and perceptions of municipal managers, municipal councillors and the Provincial Treasury on the multiple oversight principals’ model, its manifestations, dynamics and effects on municipal budget oversight. The study utilised principal-agent theory to develop a conceptual and theoretical framework, and utilised the interpretive qualitative case study of the Western Cape to guide the research process. A sample of respondents consisting five (5) municipal managers, one (1) Provincial Treasury representative and ten (10) municipal councillors from municipalities in the Western Cape were interviewed for the study. The transcribed data from the 16 interviews were analysed, using a qualitative analysis method.
The study findings reaffirmed the existence of multiple principals bequeathed with authority to exercise of municipal budget oversight in the Western Cape Province. Strong evidence emerged that application of the multiple principal model manifests independent, conflicting and fragmented budget oversight relationships and behaviour between the Provincial Treasury and municipal councillors during different stages of the municipal budget process. While the study acknowledges that the model and its application generates both positive and negative effects resulting in too complex, onerous and conflict-prone oversight relationships, it also highlighted these effects as necessary intrinsic
attributes that do not necessarily have to manifest adverse consequences on the municipal budget oversight.
These findings contradict the common-sense advocates for a collective model that emphasises coordination to improve cohesiveness among oversight principals, especially between the Provincial Treasury and the municipal councillors. The findings confirm that the Municipal Finance Management Act has consciously established a responsive system that distributes oversight among autonomous political structures in order to comprehensively eclipse the discretion of the municipal manager with varied and complementary oversight expertise, energy and diversity.
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