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Online Financial Reporting Disclosure Requirements Across Central and Eastern European Countries  [PDF]
Bogdan Victoria,Popa Dorina Nicoleta
Annals of the University of Oradea : Economic Science , 2008,
Abstract: The business community has admitted that the accounting is “the language of business”. They are using the accounting to communicate the existence and the evolution of the financial situation and also of the performance for the economical entities. Financial information is a form of a language. The purpose of this paper is to investigate the various elements of financial reporting frameworks and practice in the context of the Internet. The Internet has emerged as a recent medium of presentation of corporate information in the United States, Germany, Great Britain, but also in the Central and Eastern European Countries. Actual disclosure by companies from CEE was investigated in order to compare de jure and the facto financial reporting disclosure.
The validity of world class business criteria across developed and developing countries  [cached]
Andre J. Parker,Theo H. Veldsman
South African Journal of Human Resource Management , 2010, DOI: 10.4102/sajhrm.v8i1.255
Abstract: Orientation: World class implies being able to respond effectively to the prevailing business challenges in a manner that surpasses competitors and to compete effectively in the global economy. Research purpose: To assess the validity of the general assumption in the literature that world class criteria are equally applicable worldwide. Motivation for research: The possibility exists that developing countries require an adjusted mix of world class criteria and practices to become globally competitive. Research design, approach and method: A quantitative field survey research approach was adopted. A web-enabled questionnaire was designed, covering 35 world class practices grouped under 7 world class criteria. A cross-section of the senior management from 14 developing and 20 developed country’s organisations partook in the study. Main findings: It was empirically confirmed that the majority of world class practices posited in the literature are used by participating organisations; that world class criteria do not apply equally across developed and developing countries; and that more important than country location, is the deliberate choice by an organisation’s leadership to become world class. An empirically based model of ascending to world class was proposed. Practical/managerial implications: Regardless of country location, the leadership of an organisation can make their organisation world class by applying the proposed world class model. Contribution/value add: A reliable web enabled instrument was designed that can be used to assess an organisation’s world class standing; the assumption that world class criteria are equally valid across developing and developed countries was proven partially incorrect; since becoming or being world class is also a leadership choice regardless of location. How to cite this article: Parker, A.J., & Veldsman, T.H. (2010). The validity of world class business criteria across developed and developing countries. SA Journal of Human Resource Management/ SA Tydskrif vir Menslikehulpbronbestuur, 8(1), Art. #255, 17 pages. DOI: 10.4102/sajhrm.v8i1.255
Cotton Hedging: A Comparison across Developing and Developed Countries  [PDF]
Qizhi Wang, Benaissa Chidmi
Modern Economy (ME) , 2011, DOI: 10.4236/me.2011.24073
Abstract: This paper uses the results of ordinary least squares, bivariate vector autoregressive, and error correction models to estimate the hedge ratios for cotton production across different countries and to determine whether New York Cotton Exchange futures prices can serve as a hedging tool for cotton producers. Models comparison shows that the error correction model fits the data better. The results of the error correction model show that the spot prices and the NYCE futures prices are co-integrated in United States, Australia, and China, but not in Africa Franc Zone countries. In addition, for countries with higher market power, such as US and China, and countries without market distortions, such as Australia, the New York Cotton Exchange futures prices can serve as a hedging tool for cotton producers. In contrast, for less developed countries, such as Africa Franc Zone countries, and Pakistan, the NYCE futures prices cannot serve as hedging tool against the risks faced by cotton farmers.
Financial reporting on the internet: the portuguese case
Rodrigues, Lúcia Lima;Menezes, Carlos;
RAE eletr?nica , 2003, DOI: 10.1590/S1676-56482003000200004
Abstract: due to recent developments in information technologies, portuguese companies are using the internet to disclose accounting information through their web sites. after presenting the advantages and eventual risks of this form of financial reporting and literature review, the web sites of portuguese listed companies were examined throughout march 2000 to february 2001, to determine which companies present financial information and whether the information provided is summarised, identical to the paper version of the annual report or is more detailed. in addition, we tested if there is significant difference between company size, industry type, overseas listings and the extent of financial disclosure on the internet. we concluded portuguese companies are starting to face positively this new way of financial reporting. concerning the hypotheses tests performed we noticed that, likewise to what is happening in other countries, there is a positive correlation between company size and the existence of web site and company size and financial information disclosed.
Corporate Financial Reporting System and Developments Herein: An Exploratory Study from Pakistan  [PDF]
Rehana Kouser (Corresponding Author),Muhammad Abdul Majid Makki,Muhammad Usman Qureshi
Pakistan Journal of Commerce and Social Sciences , 2012,
Abstract: To capture international opportunities of capital accumulation for corporate sector and to contribute in the development of economy, the government of Pakistan acted speedily to harmonize with international financial reporting system immediately after establishment.This study presents a comprehensive detail of Pakistan’s adopted efforts along with a critical-eye on developments and improvements in the reporting system with the passage of time. It scrutinizes major milestones in development of the financial reporting framework of Pakistan. We traced financial reporting practices in Indian subcontinent era and found them unsatisfactory. Hindustan was under the colonial power of Great Britain; therefore its impact on accounting and financial reporting in Pakistan was dominant afterindependence. Examples of this influence are enforcement of companies’ act 1913 and auditor’s certificate rules shows. We examined the institutional development from establishment of Pakistan till now and divided that era in 1947-1971, 1971-1999 andperiod of 21stcentury which played vital role in improvement of financial reporting practices in the country. These milestones are established with view of crucial events toward advances in accounting. In early years of Pakistan PIA (Pakistan Institute ofAccountants) was first private body but after it ICAP (Institute of Chartered Accountants of Pakistan) made by government was an important step. Next major step was taken in 1971; it was the formation of SECP (Securities and Exchange Commission of Pakistan).Its structure and provisions provided for external reporting of corporations are discussed. Companies’ Ordinance 1984 was another beneficial footstep toward this journey. After discussing all the institutional developments and improvements in financial reportingsystem of Pakistan, we addressed the current status of financial reporting in the 2000s.Study concludes that major improvements and advances made in the financial reporting skeleton are appropriate, will cause improvements in the investor protection, value relevance of accounting information, and will help corporate sector in capitalaccumulation from international financial markets and will attract cross border investors.
RECENT DEVELOPMENTS OF THE FINANCIAL REPORTING MODEL: THEORETICAL STUDIES IN REVIEW  [PDF]
Matis Dumitru,Bonaci Carmen Giorgiana
Annals of the University of Oradea : Economic Science , 2011,
Abstract: Our paper analyzes the manner in which the financial reporting model evolved towards fair value accounting. After a brief introduction into the context of financial reporting at international level, the analysis focuses on the accounting model of fair value. This is done by synthesizing main studies in accounting research literature that analyze fair value accounting through a theoretical approach. The analysis being developed relies on literature review methodology. The main purpose of the developed analysis is to synthesize main pros and cons as being documented through accounting research literature. Our findings underline both the advantages and shortcomings of fair value accounting and of the recent mixed attribute in nowadays financial reporting practices. The concluding remarks synthesize the obtained results and possible future developments of our analysis.
FACTORS CAUSING DIFFERENCES IN THE FINANCIAL REPORTING PRACTICES IN SELECTED SOUTH PACIFIC COUNTRIES IN THE POST-CONVERGENCE PERIOD
Parmod Chand,Chris Patel,Ronald Day
Asian Academy of Management Journal , 2008,
Abstract: The international accounting literature pays much attention to the clustering of national accounting systems of various countries based on similar financial reporting characteristics. In this paper, we argue that the existing models that cluster countries are substantially incomplete and misleading due to the recent convergence efforts that have taken place. We identify the factors that may be causing differences in both the de jure and de facto aspects of comparability in financial reporting across countries in the post-convergence period. Using four countries from the South Pacific region (Australia, New Zealand, Papua New Guinea and Fiji), we identify three dominant factors that still act as constraints in accounting convergence. These include: (1) the nature of business ownership and the financial system, (2) culture, and (3) the level of accounting education and the experience of professional accountants in each of the different countries. We argue that national and international regulators need to work towards reducing these remaining differences across countries to achieve the objectives of accounting convergence.
VOLUNTARY INTERNET FINANCIAL REPORTING AND DISCLOSURE – A NEW CHALLENGE FOR ROMANIAN COMPANIES  [PDF]
Bogdan Victoria,Pop Cosmina Madalina,Popa Dorina Nicoleta
Annals of the University of Oradea : Economic Science , 2009,
Abstract: The majority of IFR and disclosure studies are focused on USA and European developed countries. Only a few studies have been carried on CEE countries. This paper examines the extent of voluntary internet financial reporting and disclosure of the Romanian
Adoption of International Financial Reporting Standards in Developing Countries: The Case of Nigeria  [cached]
Abdulkadir Madawaki
International Journal of Business and Management , 2012, DOI: 10.5539/ijbm.v7n3p152
Abstract: The study focused on the adoption process of International Financial Reporting Standards (IFRS) on a developing economy, with particular reference to Nigeria. The paper is based on the data obtained from literature survey and archival sources in the context of the globalization of International Financial Reporting and the adoption of International Financial Reporting Standards (IFRS).Nigeria has embraced IFRS in order to participate in the benefits it offers, including attracting foreign direct investment, reduction of the cost of doing business, and cross border listing. In implementing IFRS Nigeria will face challenges including the development of a legal and regulatory framework, awareness campaign, and training of personnel. Recommendations were made to forestall such challenges which include strengthening education and training, establishment of an independent body to monitor and enforce accounting and auditing standards.
Uncertainty in Less Developed Countries in the Face of Crisis
VS Zhattau
African Research Review , 2012,
Abstract: The global financial crisis that started in September 2007 with a rather limited problem in a market for non-tradeable goods (houses) challenged the way we have been thinking for decades about globalization, development and vulnerability. The crisis confronts social scientist, not just economist, with many issues that need reflection. This article concentrates on the developing and emerging economies in order to gain fresh insight into the challenges that the crisis poses to development strategies and policies. The crisis has serious social outfalls, slowing down the fight against poverty, sometimes increasing poverty, deteriorating income equality and reducing access of social service. This crisis also creates political conflict, generates new sets of priorities (both in the developed and developing economies) threaten food security and illuminates the need for better global governance frameworks. The role of the state as a leading actor in fostering economic growth and well-being has remained for some and emerged for others as a new paradigm. There is no one -size-fit-all strategy, but in this article, there are some proposals for development of LDCs. These countries still have some room to manoeuvre despite their loss of policy space.
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