Search results for: conventional accounting

Authors: Patricia Chinyere Oranefo

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This study examined the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The dearth of empirical evidence and literature on “governance disclosure” as one of the explanatory variables of sustainability accounting reporting were the major motivation for this study. The main objective was to ascertain the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprises of five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NSX) and the sample size of four (4) listed firms was drawn using purposive sampling method. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2012 to 2021 of the Brewery firms quoted on the Nigeria exchange group (NSX). Panel regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The results showed that economic sustainability disclosure indexes do not significantly affect return on asset of listed Brewery firms in Nigeria. The findings further revealed that environmental sustainability disclosure indexes do not significantly affect return on equity of listed Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes significantly affect Net Profit Margin of listed Brewery firms in Nigeria. Finally, the result established also that governance sustainability disclosure indexes do not significantly affect Earnings per share of listed Brewery firms in Nigeria. Consequent upon the findings, this study recommended among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index (GRI) as they are capable of exerting significant effect on financial performance of firms in Nigeria.

Keywords: sustainability, accounting, disclosure, financial performance

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Authors: Olurankinse Felix, Fatukasi Bayo

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Over the years, the medium through which government financial statements are prepared has been on cash basis of accounting. This basis was characterised with some shortcomings ranging from non- disclosure of quality and detail information relating to government financial transactions, ill informed assessment of government resource allocation, weak internal control system that inhibits accountability and transparency and non- standardisation of reporting ethics for the purpose of comparability. The emergence of international public sector accounting standards (IPSAS) is therefore seen as leverage as it aims at improving the quality of general purpose financial reporting by public sector entities thereby increasing transparency and accountability. IPSAS is a new concept that all institutions must fully adopts. The crux of this paper is to find out to what extent is the awareness and adoption of IPSAS to both students and lecturers interms of teaching, learning and inclusion in the curriculum of accounting education. The methodology involved the use of well designed questionnaires to obtain information from some selected institutions and the analysis was done with the use of maximum likelihood ordered probit regression. The result of the analysis shows that despite a high level of sensitisation/awareness of IPSAS, the degree of adoption is still low due to low level of desirability by students and lecturers. The paper recommend the need for the government to enact an enabling law to back up the adoption and more importantly to institute appropriate sanctions to ensure full compliance.

Keywords: assessment, awareness, adoption, IPSAS, cash basis

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Authors: Sani AbdulRahman Bala

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This empirical study delves into the realm of forensic accounting practices within the Nigerian Public Sector, seeking to quantitatively analyze their efficacy in addressing the persistent challenges of fraud and financial irregularities. With a focus on empirical data, this research employs a robust methodology to assess the current state of fraud in the Nigerian Public Sector and evaluate the performance of existing forensic accounting measures. Through quantitative analyses, including statistical models and data-driven insights, the study aims to identify patterns, trends, and correlations associated with fraudulent activities. The research objectives include scrutinizing documented fraud cases, examining the effectiveness of established forensic accounting practices, and proposing data-driven strategies for enhancing fraud detection and prevention. Leveraging quantitative methodologies, the study seeks to measure the impact of technological advancements on forensic accounting accuracy and efficiency. Additionally, the research explores collaborative mechanisms among government agencies, regulatory bodies, and the private sector by quantifying the effects of information sharing on fraud prevention. The empirical findings from this study are expected to provide a nuanced understanding of the challenges and opportunities in combating fraud within the Nigerian Public Sector. The quantitative insights derived from real-world data will contribute to the refinement of forensic accounting strategies, ensuring their effectiveness in addressing the unique complexities of financial irregularities in the public sector. The study's outcomes aim to inform policymakers, practitioners, and stakeholders, fostering evidence-based decision-making and proactive measures for a more resilient and fraud-resistant financial governance system in Nigeria.

Keywords: fraud, financial irregularities, nigerian public sector, quantitative investigation

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Authors: Laura Sour

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Government accounting is an essential instrument of transparency and accountability in public administration, which allows connecting internal management with the implementation of policies and their evaluation by third parties through the construction of indicators on the cost of government. Several countries have adopted the International Public Sector Accounting Standards (IPSAS) as part of their modernization strategy. This document will evaluate the quantity and harmonization of the financial information published in the financial statements of 12 Latin American countries based on what is established in IPSAS 1, 2 and 17. For this, seven types of financial statements are analyzed. published during the period from 2015 to 2019. Based on this information, it will be possible to describe the evolution in the government financial publication to carry out a detailed analysis of the items that have been most transparent in these countries. Finally, the level of harmonization of the financial statements will be studied using the Herfindahl-Hirschman index (IHH) to determine the degree of comparability of the information. To date, the results indicate that the public sector has increased the quantity and harmonization of the financial information published during the study period, but in a heterogeneous way: From the data collected, it has been found that the financial statement published with greater frequency and quantity is the Income Statement (classification of expenses by nature). On the other hand, the most complete reports were published by Costa Rica (2017 to 2019) and Mexico (2016 to 2018), periods during which these countries complied with 92.9 percent of the items analyzed. Although 2017 and 2018 are the years in which the most financial statements were reported, it is important to mention that Mexico is the country that has published the most financial information throughout the entire study period. The use of the IHH is expected to provide accurate information on the quality with which countries have adopted IPSAS within their government accounting systems to promote transparency and accountability in the continent.

Keywords: accounting and auditing, government policy and regulation, harmonization, public sector accounting and audits IPSAS

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Authors: Nurul Nadrah

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As a result of the COVID-19 pandemic, a movement control order was implemented, leading to the adoption of online learning as a substitute for conventional classroom instruction. Thus, this study aims to determine the differences in skill performance between online learning and conventional methods among nursing students. We employed a quasi-experimental design with purposive sampling, involving a total of 59 nursing students, and used online learning as the intervention. As a result, the study found there was a significant difference in student skill performance between online learning and conventional methods. As a conclusion, in times of hardship, it is necessary to implement alternative pedagogical approaches, especially in critical fields like nursing, to ensure the uninterrupted progression of educational programs. This study suggests that online learning can be effectively employed as a means of imparting knowledge to nursing students during their training.

Keywords: nursing education, online learning, skill performance, conventional learning method

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Authors: Ugbor Raphael Oluchukwu

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Focusing on liquidity comes more naturally to a Chief Executive Officer than an Accountant who is trained to practice accrual accounting. When business is just commencing, it is essentially run on a cheque book (cash accounting) and for as long as there is cash in the accounts, the business is solvent. When complexity sets in and the business adopts financial accounting, the effect of liquidity and cash management becomes more pronounced. The management of cash no doubts impacts positively on the survival and growth of firms. What is in doubt is the amount of cash to be held by a firm as enough cash to enable the firm stay “afloat”. The focus of this paper is to determine liquidity and cash management in business, the Nigerian case. The specific objectives of the study are to do a theoretical review of the amount of cash to be held by a firm as enough cash to enable it stay afloat and to do a theoretical analysis to show the effect of cash flow on the survival and growth of firms in Nigeria.

Keywords: cash, firm survival, growth, liquidity management

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Authors: Alireza Karimi

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Artificial Intelligence (AI) is reshaping various industries, and accounting is no exception. With the ability to process vast amounts of data quickly and accurately, AI is revolutionizing how financial professionals manage, analyze, and report financial information. In this article, we will explore the diverse applications of AI in accounting and its profound impact on the field. Automation of Repetitive Tasks: One of the most significant contributions of AI in accounting is automating repetitive tasks. AI-powered software can handle data entry, invoice processing, and reconciliation with minimal human intervention. This not only saves time but also reduces the risk of errors, leading to more accurate financial records. Pattern Recognition and Anomaly Detection: AI algorithms excel at pattern recognition. In accounting, this capability is leveraged to identify unusual patterns in financial data that might indicate fraud or errors. AI can swiftly detect discrepancies, enabling auditors and accountants to focus on resolving issues rather than hunting for them. Real-Time Financial Insights: AI-driven tools, using natural language processing and computer vision, can process documents faster than ever. This enables organizations to have real-time insights into their financial status, empowering decision-makers with up-to-date information for strategic planning. Fraud Detection and Prevention: AI is a powerful tool in the fight against financial fraud. It can analyze vast transaction datasets, flagging suspicious activities and reducing the likelihood of financial misconduct going unnoticed. This proactive approach safeguards a company's financial integrity. Enhanced Data Analysis and Forecasting: Machine learning, a subset of AI, is used for data analysis and forecasting. By examining historical financial data, AI models can provide forecasts and insights, aiding businesses in making informed financial decisions and optimizing their financial strategies. Artificial Intelligence is fundamentally transforming the accounting profession. From automating mundane tasks to enhancing data analysis and fraud detection, AI is making financial processes more efficient, accurate, and insightful. As AI continues to evolve, its role in accounting will only become more significant, offering accountants and finance professionals powerful tools to navigate the complexities of modern finance. Embracing AI in accounting is not just a trend; it's a necessity for staying competitive in the evolving financial landscape.

Keywords: artificial intelligence, accounting automation, financial analysis, fraud detection, machine learning in finance

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Authors: Ugbede Onalo, Mohd Lizam, Ahmad Kaseri, Otache Innocent

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Giving the paucity of studies on IFRS adoption and quality of banks accounting quality, particularly in emerging economies, this study is motivated to investigate whether the Nigeria decision to adopt IFRS beginning from 1 January 2012 is associated with high quality accounting measures. Consistent with prior literatures, this study measure quality of financial statement information using earnings measurement, timeliness of loss recognition and value relevance. A total of twenty Nigeria banks covering a period of six years (2008-2013) divided equally into three years each (2008, 2009, 2010) pre adoption period and (2011, 2012, 2013) post adoption period were investigated. Following prior studies eight models were in all employed to investigate earnings management, timeliness of loss recognition and value relevance of Nigeria bank accounting quality for the different reporting regimes. Results suggest that IFRS adoption is associated with minimal earnings management, timely recognition of losses and high value relevance of accounting information. Summarily, IFRS adoption engenders higher quality of banks financial statement information compared to local GAAP. Hence, this study recommends the global adoption of IFRS and that Nigeria banks should embrace good corporate governance practices.

Keywords: IFRS, SAS, quality of accounting information, earnings measurement, discretionary accruals, non-discretionary accruals, total accruals, Jones model, timeliness of loss recognition, value relevance

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Authors: Feddaoui Amina

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Income smoothing represents an attempt on the part of the company's management to reduce variations in earnings through the manipulation of the accounting principles. In this study, we aimed to measure income smoothing practices in a sample of 30 French joint stock companies during the period (2007-2009), we used Dummy variables method and “ECKEL” model to measure income smoothing practices and Binomial test accourding to SPSS program, to confirm or refute our hypothesis. This study concluded that there are no significant statistical indicators of income smoothing practices in the sample studied of French companies during the period (2007-2009), so the income series in the same sample studied of is characterized by stability and non-volatility without any intervention of management through accounting manipulation. However, this type of accounting manipulation should be taken into account and efforts should be made by control bodies to apply Eckel model and generalize its use at the global level.

Keywords: income, smoothing, 'Eckel', French companies

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Authors: Bubaker F. Shareia

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The aim of this paper is to determine a general frame of the auditor's legal responsibilities in Libya which were implied in professional codes and rules, these codes and rules were concerned with the auditor's rights and duties in conducting his professional duties. This will provide a background for the Libyan accounting profession, and the challenges in tailoring Auditors to meet third party's needs. Being informed of the kinds of legal responsibilities which the external auditors could face during conducting their duties. The study is based on a literature review and archival research, reinforced by a qualitative case study comprised of interviews, questionnaire and a study of internal documents. To reach such an understanding, the researcher designed two questionnaires for collecting the data. One questionnaire was distributed among the certified public accountant firms in Libya and the second was distributed among a group of randomly selected lawyers and judges in the same country. Most auditors agreed upon the determination of their responsibilities toward the state and they emphasized that their responsibilities toward their clients were limited to the accepted standards of auditing. Moreover, all auditors who were surveyed emphasized that there has never been any juridical claims against them, and as a consequence they have never paid any legal fines. This study focuses on one country, which does limit its generalisability. However, it also suggests fruitful research areas in considering the impact and challenge of the historic factors in the accounting profession in emerging economies.

Keywords: accounting, external auditor, legal responsibilities, libyan accounting profession

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Authors: R. W. A. V. A. Wijenayake, P. M. R. N. Fernando, S. Nilesh, M. D. G. M. S. Diddeniya, M. Weligodapola, P. Shamila

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The study is designed to examine the impact of a lifelong learning mindset on the career success of accounting and finance professionals in the western province of Sri Lanka. The learning mindset impacts the career success of accounting and finance professionals. The main objective of this study is to identify how the lifelong-learning mindset impacts on the career success of accounting and finance professionals. The lifelong learning mindset is the desire to learn new things and curiosity, resilience, and strategic thinking are the selected constructs to measure the lifelong learning mindset. Career success refers to certain objectives and emotional measures of improvement in one’s work life. The related variables of career success are measured through the number of promotions that have been granted in his/her work life. Positivism is the research paradigm, and the deductive approach is involved as this study relies on testing an existing theory. To conduct the study, the accounting and finance professionals in the western province in Sri Lanka were selected because most reputed international and local companies and specifically, headquarters of most of the companies are in western province. The responses cannot be collected from the whole population. Therefore, this study used a simple random sampling method, and the sample size was 120. Therefore, to identify the impact, 5-point Likert scale is used to perform this quantitative data. Required data gathered through an online questionnaire and the final outputs of the study will offer certain important recommendations to several parties such as universities, undergraduates, companies, and the policymakers to improve, help mentally and financially and motivate the students and the employees to continue their studies without ceasing after completion of their degree.

Keywords: career success, curiosity, lifelong learning mindset, resilience, strategic thinking

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Authors: Bubaker F. Shareia

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The main aim of this paper is to set the parameters within which the study is to be conducted, specifically justifying the use of qualitative research, informed by theory. This paper argues that the social world is subjective in nature and may be accessed through the interpretive approach provided by the people involved in the context of the study. The paper defines and distinguishes between qualitative and quantitative research methodologies, explores Burrell and Morgan's framework for social research, and presents the study's adopted methodology and methods, with the rationale for these choices.

Keywords: accounting, methodologies, qualitative, quantitative research

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Authors: Anocha Rojanapanich

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The purpose of this research is to develop and design an accounting management information system for convenient shop in Bangkok Thailand. The study applied the System Development Life Cycle (SDLC) for development which began with study and analysis of current data, including the existing system. Then, the system was designed and developed to meet users’ requirements via the internet network by use of application software such as My SQL for database management, Product diversity, Apache HTTP Server for Web Server and PHP Hypertext Preprocessor for an interface between web server, database and users. The system was designed into two subsystems as the main system, or system for head office, and the branch system for branch shops. These consisted of three parts which are classified by user management as shop management, inventory management and Point of Sale (POS) management and importance of cost information for decision making also as well as.

Keywords: accounting management information system, convenient shop, cost information for decision making system, development life cycle

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Authors: Nadezhda Kvatashidze, Elena Kharabadze

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It is broadly known that lease is a flexible means of funding enterprises. Lease reduces the risk related to access and possession of assets, as well as obtainment of funding. Therefore, it is important to refine lease accounting. The lease accounting regulations under the applicable standard (International Accounting Standards 17) make concealment of liabilities possible. As a result, the information users get inaccurate and incomprehensive information and have to resort to an additional assessment of the off-balance sheet lease liabilities. In order to address the problem, the International Financial Reporting Standards Board decided to change the approach to lease accounting. With the deficiencies of the applicable standard taken into account, the new standard (IFRS 16 ‘Leases’) aims at supplying appropriate and fair lease-related information to the users. Save certain exclusions; the lessee is obliged to recognize all the lease agreements in its financial report. The approach was determined by the fact that under the lease agreement, rights and obligations arise by way of assets and liabilities. Immediately upon conclusion of the lease agreement, the lessee takes an asset into its disposal and assumes the obligation to effect the lease-related payments in order to meet the recognition criteria defined by the Conceptual Framework for Financial Reporting. The payments are to be entered into the financial report. The new lease accounting standard secures supply of quality and comparable information to the financial information users. The International Accounting Standards Board and the US Financial Accounting Standards Board jointly developed IFRS 15: ‘Revenue from Contracts with Customers’. The standard allows the establishment of detailed revenue recognition practical criteria such as identification of the performance obligations in the contract, determination of the transaction price and its components, especially price variable considerations and other important components, as well as passage of control over the asset to the customer. IFRS 15: ‘Revenue from Contracts with Customers’ is very similar to the relevant US standards and includes requirements more specific and consistent than those of the standards in place. The new standard is going to change the recognition terms and techniques in the industries, such as construction, telecommunications (mobile and cable networks), licensing (media, science, franchising), real property, software etc.

Keywords: assessment of the lease assets and liabilities, contractual liability, division of contract, identification of contracts, contract price, lease identification, lease liabilities, off-balance sheet, transaction value

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Authors: Alimshan Faizulayev, Eralp Bektas, Abdul Ghafar Ismail, Bezhan Rustamov

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This paper performs empirical analysis on determinants of profitability in Islamic and Conventional Banks. The main focus of this study is to evaluate and measure of financial performance of Islamic banking firms operating in Egypt, Iran, Malaysia, Pakistan, Turkey, UAE in contrast to Conventional ones in those countries. To evaluate empirically performance of the banks, various financial ratios are employed. We measure performance in terms of liquidity, profitability, solvency, and efficiency. In this work, t-test, F-test, and OLS analysis are used to make hypothesis tests. Our findings reveal that there are similarities and differences in profitability determinants of Islamic and Conventional banking firms. The cost to revenue ratio has inverse relationship with profitability indicators in both banking systems. However, there are differences in financial performances between Conventional Banks and Islamic banks which are found in overall picture of all banks in terms of net income margin.

Keywords: Islamic banking, conventional banking, GDP growth, emerging market economies

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Authors: Omolola A. Tajelawi, Hari L. Garbharran

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Revenue leakages are one of the major challenges manufacturers face in production processes, as most of the input materials that should emanate as products from the lines are lost as waste. Rather than generating income from material input which is meant to end-up as products, losses are further incurred as costs in order to manage waste generated. In addition, due to the lack of a clear view of the flow of resources on the lines from input to output stage, acquiring information on the true cost of waste generated have become a challenge. This has therefore given birth to the conceptualization and implementation of waste minimization strategies by several manufacturing industries. This paper reviews the principles and applications of three environmental management accounting tools namely Activity-based Costing (ABC), Life-Cycle Assessment (LCA) and Material Flow Cost Accounting (MFCA) in the manufacturing industry and their effectiveness in curbing revenue leakages. The paper unveils the strengths and limitations of each of the tools; beaming a searchlight on the tool that could allow for optimal resource utilization, transparency in production process as well as improved cost efficiency. Findings from this review reveal that MFCA may offer superior advantages with regards to the provision of more detailed information (both in physical and monetary terms) on the flow of material inputs throughout the production process compared to the other environmental accounting tools. This paper therefore makes a case for the adoption of MFCA as a viable technique for the identification and reduction of waste in production processes, and also for effective decision making by production managers, financial advisors and other relevant stakeholders.

Keywords: MFCA, environmental management accounting, resource efficiency, waste reduction, revenue losses

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Authors: Zeeshan Khan, Faisal Nouroz, Shumaila Noureen

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European or common rabbit (Oryctolagus cuniculus) belongs to class Mammalia, order Lagomorpha of family Leporidae. They are distributed worldwide and are native to Europe (France, Spain and Portugal) and Africa (Morocco and Algeria). LTR retrotransposons are major Class I mobile genetic elements of eukaryotic genomes and play a crucial role in genome expansion, evolution and diversification. They were mostly annotated in various genomes by conventional approaches of homology searches, which restricted the annotation of novel elements. Present work involved de novo identification of LTR retrotransposons by LTR_FINDER in haploid genome of rabbit (2247.74 Mb) distributed in 22 chromosomes, of which 7,933 putative full-length or partial copies were identified containing 69.38 Mb of elements, accounting 3.08% of the genome. Highest copy numbers (731) were found on chromosome 7, followed by chromosome 12 (705), while the lowest copy numbers (27) were detected in chromosome 19 with no elements identified from chromosome 21 due to partially sequenced chromosome, unidentified nucleotides (N) and repeated simple sequence repeats (SSRs). The identified elements ranged in sizes from 1.2 - 25.8 Kb with average sizes between 2-10 Kb. Highest percentage (4.77%) of elements was found in chromosome 15, while lowest (0.55%) in chromosome 19. The most frequent tRNA type was Arginine present in majority of the elements. Based on gained results, it was estimated that rabbit exhibits 15,866 copies having 137.73 Mb of elements accounting 6.16% of diploid genome (44 chromosomes). Further molecular analyses will be helpful in chromosomal localization and distribution of these elements on chromosomes.

Keywords: rabbit, LTR retrotransposons, genome, chromosome

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Authors: Manirath Wongsim

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AIS plays an important role in business management, strategic and can provide assistance in all phases of decision making. Thus, many organisations needs to be seen as well adopting AIS, which is critical to a company in order to organise, manage and operate process in all sections. In order to implement AIS successfully, it is important to understand the underlying factors that influence the AIS adoption. Therefore, this research intends to study this perspective of factors influence and impact on AIS adoption’s success. The model has been designed to illustrate factors influences in AIS adoption. It also attempts to identify the critical success factors that organisations should focus on, to ensure the adoption on accounting process. This framework will be developed from case studies by collecting qualitative and quantitative data. Case study and survey methodology were adopted for this research. Case studies in two Thai- organisations were carried out. The results of the two main case studies suggested 9 factors that may have impact on in AIS adoption. Survey instrument was developed based on the findings from case studies. Two large-scale surveys were sent to selected members of Thailand Accountant, and Thailand Computer Society to further develop and test the research framework. The top three critical factors for ensuring AIS adoption were: top management commitment, steering committees, and Technical capability of AIS personnel. That is, it is now clear which factors impact in AIS adoption, and which of those factors are critical success factors for ensuring AIS adoption successes

Keywords: accounting information system, accounting information systems adoption, and inflecting AIS adoption

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Authors: Piotr Prewysz-Kwinto, Grazyna Voss

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In June 2013, the European Parliament and the Council adopted a directive on financial reporting (Directive 2013/34/EU). The main objective was to simplify the principles of the preparation of financial statements, including the principles of the presentation and disclosures of financial information by adapting reporting burdens to the type and size of an undertaking. Therefore, the Directive introduced a classification of all undertakings into five groups, i.e. micro, small, medium-sized, large and public-interest entities, and defined in detail the classification criteria. The principles of the preparation of financial statements and the presentation of financial information as well as applicable simplifications were defined for each group. The EU Member States had to implement the provisions of Directive 34 relating to accounting and financial reporting into domestic norms until January 1, 2016. In Poland, the provisions of Directive 34 were implemented into domestic accounting norms specified in the Polish Accounting Act on a gradual basis. On July 11, 2014, the Polish Parliament adopted an amendment to the Act, introducing the Directive's solutions for micro-undertakings and on July 23, 2015, for the remaining undertakings. The aim of this paper is to present Polish solutions relating to financial reporting after the implementation of Directive 34 and the results of the survey conducted among accountants regarding the evaluation of the implemented simplifications for micro and small undertakings.

Keywords: accounting standards, financial reporting, financial statement, simplification

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Authors: Nadzira Yahaya, Saunah Zainon, Marshita Hashim, Ruhaya Atan

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Non-profit organizations (NPOs) in Malaysia are diverse in their origins, structures, objectives, and stakeholders. The largest category of NPOs is from charity and religious category while many other categories such as youth, professionals, women, education and mutual benefits either operate independently or controlled by governments. NPOs have stewardship obligations to their stakeholders and other users of their annual reports, including the public at large. The existing accounting practices without the proper framework of the preparation and presentation of annual reports resulted in a lack of uniformity in the preparation and presentation of NPOs annual reports. Furthermore, a lack of awareness of the applicability of accounting standards and the adoption of different bases of accounting resulted in the need for framework in the preparation and presentation of financial statements for true and fair view of the state of affairs and the operating result of the NPOs activities. This study presents the proposed framework for the preparation and presentation of NPOs annual reports to help the organizations provide high-quality reporting for them to be accountable for good stewardship.

Keywords: annual reports, framework, NPOs, preparation and presentation

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Authors: Mehmet Karabekir

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Attack helicopters (AHs) are usually deployed in conventional warfare to destroy armored and mechanized forces of enemy. In addition, AHs are able to perform various tasks in the deep, and close operations – intelligence, surveillance, reconnaissance, air assault operations, and search and rescue operations. Apache helicopters were properly employed in the Gulf Wars and contributed the success of campaign by destroying a large number of armored and mechanized vehicles of Iraq Army. The purpose of this article is to discuss the deployment of AHs in conventional warfare in the light of Gulf Wars. First, the employment of AHs in deep and close operations will be addressed regarding the doctrine. Second, the US armed forces AH-64 doctrinal and tactical usage will be argued in the 1st and 2nd Gulf Wars.

Keywords: attack helicopter, conventional warfare, gulf wars

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Authors: Nuruddeen Usman, Ahmad Muhammad Ibrahim

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Management of construction logistics at construction sites becomes increasingly complex with rising construction volume, which made it relatively inefficient in the developing nations even with the technological advancement. The objective of this research is to conceptually synthesise the approaches and challenges befall in the course of construction logistic management, with the aim to proffer possible solution to it. Therefore, this study appraised the glitches associated with both conventional and technological methods of construction logistic management that result in its inefficiency. Thus, this investigation found that, both conventional and the technological issues were due to certain obstacles that affect the construction logistic management which resulted into delays, accidents, fraudulent activities, time and cost overrun. Therefore, this study has developed a framework that might bring a lasting solution to the challenges of construction logistic management.

Keywords: construction, conventional, logistic, technological

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Authors: M. Ghobeiti-Hasab

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Magnetic powder of Sr-ferrite was prepared by conventional and sol-gel auto-combustion methods. In conventional method, strontium carbonate and ferric oxide powders were mixed together and then mixture was calcined. In sol-gel auto-combustion method, a solution containing strontium nitrate, ferric nitrate and citric acid was heated until the combustion took place automatically; then, as-burnt powder was calcined. Thermal behavior, phase identification, morphology and magnetic properties of powders obtained by these two methods were compared by DTA, XRD, SEM, and VSM techniques. According to the results of DTA analysis, formation temperature of Sr-ferrite obtained by conventional and sol-gel auto-combustion methods were 1300 °C and 1000 °C, respectively. XRD results confirmed the formation of pure Sr-ferrite at the mentioned temperatures. Plate and hexagonal-shape particles of Sr-ferrite were observed using SEM. The Sr-ferrite powder obtained by sol-gel auto-combustion method had saturation magnetization of 66.03 emu/g and coercivity of 5731 Oe in comparison with values of 58.20 emu/g and 4378 Oe obtained by conventional method.

Keywords: Sr-ferrite, sol-gel, magnetic properties, calcination

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Authors: Mai Hoang Minh

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Financial statements (FS) are tools which provide information to users for making business decisions. This article is going to present the survey which clarifies the role of financial statement to Commercial Banks’ loan decisions in Vietnam. Moreover, this also discusses about financial statement’s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities.

Keywords: usefulness of financial statement, accounting information quality, loan decisions

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Authors: Francesco Paolone

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This paper investigates the role of Operating Cash Flow (OCF) and accruals in firm valuation analyzing financial statement information from the largest European companies and evaluating their relation to firm market value. Using a dataset of 500 largest European companies in 2018, the study investigates the relative value-relevance of equity, net income and operating cash flow (OCF). Findings show that the cash flow measure has the same explanatory power and intensity as equity and earnings to explain the market value. This study contributes to the debate on the value relevance of OCF incremental to book value and earnings. It also extends the literature, showing that OCF has information content (value relevance) superior to earnings and book value in the main European markets (Bepari et al., 2013). Finally, the study provides a support that accounting method choice may confuse investors, who have reduced confidence in accounting earnings and book value; in other words, nowadays European investors rely more on cash flows instead of accruals numbers.

Keywords: Cash Flow Statement, Value Relevance, Accounting, Financial Statement Analysis

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Authors: Leandi Steenkamp

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The sectional title industry has been a part of the property landscape in South Africa for almost half a century, and plays a significant role in addressing the housing problem in the country. Stakeholders such as owners and investors in sectional title property are in most cases not directly involved in the management thereof, and place reliance on the audited annual financial statements of bodies corporate for decision-making purposes. Although the industry seems to be highly regulated, the legislation regarding accounting and auditing of sectional title is vague and ambiguous. Furthermore, there are no industry-specific auditing and accounting standards to guide accounting and auditing practitioners in performing their work and industry financial benchmarks are not readily available. In addition, financial pressure on sectional title schemes is often very high due to the fact that some owners exercise unrealistic pressure to keep monthly levies as low as possible. All these factors have an impact on the business risk as well as audit risk of bodies corporate. Very little academic research has been undertaken on the sectional title industry in South Africa from an accounting and auditing perspective. The aim of this paper is threefold: Firstly, to discuss the findings of a literature review on uncertainties, ambiguity and confusing aspects in current legislation regarding the audit of a sectional title property that may cause or increase audit and business risk. Secondly, empirical findings of risk-related aspects from the results of interviews with three groups of body corporate role-players will be discussed. The role-players were body corporate trustee chairpersons, body corporate managing agents and accounting and auditing practitioners of bodies corporate. Specific reference will be made to business risk and audit risk. Thirdly, practical recommendations will be made on possibilities of closing the audit expectation gap, and further research opportunities in this regard will be discussed.

Keywords: assurance, audit, audit risk, body corporate, corporate governance, sectional title

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Authors: Khaldoon G. Albitar, Hassan Y. Kikhia, Jin P. Zhang

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Since 2007, all companies listed on both Shanghai Stock Exchange and Shenzhen Stock Exchange are required to prepare their consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This study investigates the impact of adopting IFRS on accounting quality for a sample of listed on Chinese companies during the period 2003-2013 with sample of 10846 observations over a four-year period before and a five-year period after the adoption of IFRS. This study tests whether the level of earnings management is significantly lower after the adoption of IFRS, and reported earnings is more value relevant during the IFRS period by using the Ohlson model and Jones model, as modified by Dechow. The empirical results show that accounting quality improved with lower earnings management and higher value relevant after the adoption of IFRS in China. The current study contributes to the literature on IFRS adoption and earning quality in two ways. First, As most of the existing studies on earnings quality and IFRS have been conducted on data from the U.S and European countries, this study fills a gap in the existing literature by studying the effect of adoption of IFRS on earnings quality in an emerging market. Second, the findings of our study have important implications for policymakers, auditors, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investor.

Keywords: international financial reporting standards (ifrs), accounting quality, earnings management, value relevance, china

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Authors: María del Carmen Recio-Ruiz, Ramiro Ruiz-Rosas, Juana María Rosas, José Rodríguez-Mirasol, Tomás Cordero

Abstract:

At the present time, conventional fossil fuels show environmental and sustainability disadvantages with regard to renewables energies. Producing energy and chemicals from biomass is an interesting alternative for substitution of conventional fossil sources with a renewable feedstock while enabling zero net greenhouse gases emissions. Pyrolysis is a well-known process to produce fuels and chemicals from biomass. In this work, conventional and fast pyrolysis of different agro-industrial residues (almond shells, hemp hurds, olive stones, and Kraft lignin) was studied. Both processes were carried out in a fixed bed reactor under nitrogen flow and using different operating conditions to analyze the influence of temperature (400-800 ºC) and heating rate (10 and 20 ºC/minfor conventional pyrolysis and 50 ºC/s for fast pyrolysis)on the yields, products distribution, and composition of the different fractions. The results showed that for both conventional and fast pyrolysis, the solid fraction yield decreased with temperature, while the liquid and gas fractions increased. In the case of the fast pyrolysis, a higher content of liquid fraction than that obtained in conventional pyrolysis could be observed due to cracking reactions occur at a lesser extent. With respect to the composition of de non-condensable fraction, the main gases obtained were CO, CO₂ (mainly at low temperatures), CH₄, and H₂ (mainly at high temperatures).

Keywords: bio-oil, biomass, conventional pyrolysis, fast pyrolysis

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Authors: T. Miková

Abstract:

This paper analyzes the effect of a single uniform accounting rule on reporting quality by investigating the influence of IFRS on earnings management. This paper examines whether earnings management is reduced after IFRS adoption through the use of “loss avoidance thresholds”, a method that has been verified in earlier studies. This paper concentrates on two European countries: one that represents the continental code law tradition with weak protection of investors (France) and one that represents the Anglo-American common law tradition, which typically implies a strong enforcement system (the United Kingdom). The research investigates a sample of 526 companies (6822 firm-year observations) during the years 2000 – 2013. The results are different for the two jurisdictions. This study demonstrates that a single set of accounting standards contributes to better reporting quality and reduces the pervasiveness of earnings management in France. In contrast, there is no evidence that a reduction in earnings management followed the implementation of IFRS in the United Kingdom. Due to the fact that IFRS benefit France but not the United Kingdom, other political and economic factors, such legal system or capital market strength, must play a significant role in influencing the comparability and transparency cross-border companies’ financial statements. Overall, the result suggests that IFRS moderately contribute to the accounting quality of reported financial statements and bring benefit for stakeholders, though the role played by other economic factors cannot be discounted.

Keywords: accounting standards, earnings management, international financial reporting standards, loss avoidance, reporting quality

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Authors: Olanrewaju Johnson Akinduntire

Abstract:

This paper investigates the statistical evaluation of books, citations, articles, journals and other publications in accounting and finance on leveraging technology to mitigate the impact of COVID-19 on business. The research proffers an appraisal of the impact of computerized accounting systems in pre and post pandemic era on activities of the formal and informal sectors, it analyzes the concept of computerized accounting systems, and it seeks to determine the impact of computerized of the overall activities of the informal sector. A special focus of this ICT strategy should be to demystify and promote the diffusion of ICT as a general-purpose technology to the informal sector. It is believed that the use of new technologies can be crucial to meeting the Millennium Development Goals (MDGs) in a timely and effective fashion. Consequent to these, there is a need to prevent the further marginalization of the informal sector by availing ICT services which are mixed appropriately and also properly located. By implication, this will help them access markets and other business information, which can enable or make their economic activities more vibrant and facilitate the availability of information about new opportunities. Conclusively, for one to understand the application of ICT and their locational dynamics in informal sector clusters, there is a need to comprehend and acknowledge the drivers and pressures leading to the adoption of new technology.

Keywords: COVID-19 , (MDGs) , ICT, bibliometric

Procedia PDF Downloads 188