bluuebunny/crossref_metadata_2025 huggingface dataset:
Distinguishing between calpain heterodimerization and homodimerization
Authors: Ravulapalli Ravikiran , Campbell Robert L. , Gauthier Sherry Y. , Dhe‐Paganon Sirano , Davies Peter L.
Published: January 2009

The two main mammalian calpains, 1 and 2, are heterodimers of a large 80 kDa and a small 28 kDa subunit that together bind multiple calcium ions during enzyme activation. The main contact between the two subunits of these intracellular cysteine proteases is through a pairing of the fifth EF‐hand of their C‐terminal penta‐EF‐hand (PEF) domains. From modeling studies and observation of crystal structures, it is not obvious why these calpains form heterodimers with the small subunit rather than homodimers of the large subunit, as suggested for calpain 3 (p94). Therefore, we have used a differential tagging system to determine which of the other PEF domain‐containing calpains form heterodimers and which form homodimers. His6‐tagged PEF domains of calpains 1, 3, 9 and 13 were coexpressed with the PEF domain of the small subunit that had been tagged with an antifreeze protein. As predicted, the PEF domain of calpain 1 heterodimerized and that of calpain 3 formed a homodimer. The PEF domain of digestive tract‐specific calpain 9 heterodimerized with the small subunit, and that of calpain 13, prevalent in lung and testis, was mainly found as a homodimer with a small amount of heterodimer. These results indicate whether recombinant production of a particular calpain requires coexpression of the small subunit, and whether this calpain is likely to be active in a small subunit knockout mouse. Furthermore, as the endogenous inhibitor calpastatin binds to PEF domains on the large and small subunit, it is less likely that the homodimeric calpains 3 and 13 with two active sites will bind or be silenced by calpastatin.
Interrater reliability of the Australasian Triage Scale for mental health patients
Authors: Creaton Anne , Liew Don , Knott Jonathan , Wright Melissa
Published: January 2009

Objective: To evaluate interrater reliability of the Australasian Triage Scale (ATS) for mental health patients in ED.

Methods: In a prospective descriptive study, triage nurses were shown video vignettes of simulated scenarios of mental health presentations. Trieurs (raters) were asked to allocate an ATS category (rating) to each case. The primary outcome was the degree of interrater reliability for each simulated case. Also assessed were differences between raters or settings, grouped by level of ED activity, state of origin, hospital type and familiarity with appropriate guidelines. Chi‐squared analysis was used for independent categorical variables; the Friedman test was used to compare the triage scores between busy and quiet ED scenarios. Ordinal data results were compared using opartchi.

Results: All 90 eligible participants were enrolled. The highest interrater concordance was 65.6% whereas the lowest interrater concordance was 53.3%. Significant association occurred between the distribution of triage ratings, ED activity level and the state of origin. A busy ED resulted in the assignment of a more urgent ATS category and decrease in concordance.

Conclusions: There is a need to develop and implement a validated, standardized national triage tool for mental health patients. The ATS per se is insufficient to ensure acceptable interrater reliability, particularly during busy periods in the ED, and between states. Given the influence the ATS has on key outcomes, it is imperative for this tool to be robust.
Validation of a verbal dyspnoea rating scale in the emergency department
Authors: Saracino Amanda , Weiland Tracey , Dent Andrew , Jolly Brian
Published: January 2009

Objective:  Use of a verbal dyspnoea rating scale in the emergency department (ED) has many potential benefits, providing information to clinicians otherwise not afforded by objective parameters. In the present study, we aimed to investigate the validity of a verbal dyspnoea rating scale, previously validated in the setting of cardiac stress tests, among patients presenting to the ED with acute shortness of breath (SOB).

Methods:  This was a prospective observational study conducted at an inner‐urban adult tertiary hospital. A convenience sample of patients presenting with SOB to the ED had objective data collected at triage and 30 min later, including respiratory rate (RR), oxygen saturation (SaO2), heart rate (HR) and systolic blood pressure (SPB). These were correlated with the participants' subjective response to the question: ‘On a scale from 0 to 10, how bad is your SOB, with zero being no SOB and 10 the worst SOB you could ever imagine?’ Spearman correlations were then calculated between objective and subjective breathlessness measures.

Results:  For 253 breathless ED patients (mean age 60.6 years, 126 male), verbal dyspnoea scores at triage correlated with RR (r = 0.77, P < 0.001), SaO2 (r =−0.43, P < 0.001), HR (r = 0.35, P < 0.001) and SPB (r = 0.19, P < 0.05). Thirty minutes later, correlations remained significant for RR (r = 0.74, P < 0.001), SaO2 (r =−0.39, P < 0.001) and HR (r = 0.40, P < 0.001).

Conclusion:  A verbal numerical SOB rating scale is a valid measure of breathlessness in the ED, and might therefore provide useful insight into a symptom that is otherwise unmeasurable.
Helicopter use in rural trauma
Authors: Shepherd Matthew Vincent , Trethewy Christopher Ernest , Kennedy John , Davis Lin
Published: January 2009

Objective:  To profile a helicopter emergency medical service in rural Australia. To assess patient injury severities and outcomes. To compare missions involving ambulance officers with physicians. To determine any time advantage of the aircraft over ground transfer.

Methods:  Intention‐to‐treat analysis using retrospective case note review of all helicopter emergency medical service trauma patients from January 2004 to November 2006. Global positioning system mapping technology was used to compare one‐way road transfer times with two‐way helicopter retrieval.

Results:  Two hundred and twenty‐two missions were identified from the helicopter log. Forty missions were aborted in flight. Of 182 patients transported, 11 records were incomplete, leaving 171 for analysis. Fifty (29%) patients transported had an Injury Severity Score (ISS) > 15; the average ISS was 12.30 (standard error of the mean 0.82). The average calculated distance flown was 160.4 nautical miles (standard error of the mean 5.29; range 28–360 nautical miles). There was no significant difference in ISS between ambulance officers and physician groups (t = −1.17, P = 0.25, 95% CI −7.37–1.91). There was no difference in the incidence of severe injury (ISS > 15, P = 0.39) or mortality (P = 0.33) when the groups were compared. Air transport was significantly faster beyond 100 km, with a mean difference of 48 min (P = 0.00).

Conclusion:  We could not identify a significant survival benefit attributable to the addition of a doctor, although numbers for this comparison were small. Predicting missions where flight physicians might provide benefit remain imprecise and should be a priority area for prospective evaluation. We have demonstrated that in the absence of special circumstances, a helicopter response within 100 km from base does not improve time to definitive care.
Comparison of high‐ and low‐fidelity mannequins for clinical performance assessment
Authors: Lee Kenneth Hee King , Grantham Hugh , Boyd Russell
Published: January 2009

Objective:  A pilot study exploring the differences between high‐ and low‐fidelity mannequins in the assessment of clinical performance.

Methods:  Standardized clinical scenarios were used to test 12 intensive care paramedics (ICP). Each ICP was randomly assigned to a scenario using either a high‐fidelity (SimMan) or low‐fidelity mannequin (Laerdal Heart Start 2000), followed by a crossover assessment using the alternative scenario. We examined both the objective and subjective outcomes. Objective performance was assessed by three independent assessors, all accredited Advanced Paediatric Life Support instructors. Subjective outcomes were measured by assessment questionnaires and a rating scale.

Results:  The overall proportion that passed the high‐fidelity mannequin scenario was 0.47 compared with 0.58 in the low‐fidelity mannequin scenario. The difference was −0.11 (95% CI −0.32–0.11). The subjective outcomes were charted and presented within the article. The ICP preferred the use of high‐fidelity mannequin for assessment purpose.

Conclusion:  There was no significant objective difference between the two mannequins.
Treatment of Penile Deep Dorsal Venous Leakage of Erectile Dysfunction by Embedding the Deep Dorsal Vein of the Penis: A Single Center Experience with 17 Patients
Authors: Zhang Bin , Chen Jun , Xiao Hengjun , Zhang Yan , Cai Liuhong , Tao Xin , Qi Tao , Ban Dewen
Published: January 2009

Introduction

The common surgery for venous leakage was not very successful; unsatisfactory long-term results have reduced the indications for venous surgery for erectile dysfunction (ED).

Aims

To assess the outcomes of embedding the deep dorsal vein of the penis (EDDVP), a new surgical technique used in patients with penile deep dorsal venous leakage of ED.

Methods

Between December 2001 and November 2007, 17 patients diagnosed with penile deep dorsal venous leakage of ED underwent embedding the deep dorsal vein of the penis.

Main Outcome Measures

All cases were available for follow up by using the abridged 5-item version of the International Index of Erectile Function (IIEF-5) scoring system and penile color Doppler ultrasound. Dynamic cavernosography were also assessed in three patients at 3 months postoperatively.

Results

After surgery, 14 patients were able to achieve satisfactory intercourse and three had sufficient erection after oral sildenafil (50–100 mg). The IIEF-5 scoring changed from a preoperative mean IIEF-5 score of 8.8 ± 3.9 to 20.8 ± 4.1 (P < 0.05). Peak systolic velocity (average of right and left cavernosal arteries) changed from 41.9 ± 7.7 cm/second to 44.2 ± 9.2 cm/second (P > 0.05), resistance index changed from 0.79 ± 0.1 to 1.00 ± 0.0 (P < 0.05), and venous velocity changed from 8.4 ± 4.0 cm/second to 0.0 ± 0.0 cm/second (P < 0.05). Dynamic cavernosography demonstrated a smooth flow of the deep dorsal vein during the flaccid phase. During the tumescent phase, the deep dorsal vein of the penis was compressed between the dilated sinusoidal spaces and the tunica albuginea and resulted in venous drainage blockade. And then the hardness of erection was improved and maintained.

Conclusions

The new surgical technique of EDDVP is a simple operative procedure, which seems to be efficient in the treatment of penile deep dorsal venous leakage of ED.
The Information Technology Payoff: Implications For Investment Appraisal
Authors: Weill Peter
Published: January 2009

Substantial business resources are being dedicated to information technology (IT) but little is known about the effects of these investments on the performance of firms. This paper reports the results of a study of 33 manufacturing firms' investments in IT and their subsequent performance. The study analysed six years' data collected from three senior officers of each firm. Three types of IT investment were studied: strategic, informational and transactional. While firms which invested heavily in transactional IT were consistently better performers, this effect was not apparent with the other types of IT. These results have policy implications for the methods used to appraise future IT investments. Standard discounted cashflow methods are not suited to all types of IT investments. This article suggests different approaches to IT appraisal for different types of IT investment.
Collective Investment Schemes: The Role Of The Trustee
Authors: Blair Mark , Ramsay Ian
Published: January 2009

There has been a lack of analysis of the justification for trustees in collective investment schemes, although a study of the topic is pertinent because of the prominent position occupied by trustees in certain schemes. One possible justification, considered in this paper, is the existence of a collective action problem. Four types of schemes are examined: debentures, public unit trusts, life‐insurance firms and superannuation funds. While each of these schemes can exhibit a considerable collective action problem, only the first three typically involve a trustee. We conclude that even where a collective action problem exists, there is not necessarily the need for a trustee. There may be more efficient solutions to the problem.
Beyond Redemption: The Reporting Practices Of Unlisted Property Trusts
Authors: Howieson Bryan
Published: January 2009

The deterioration over recent years of the Australian real property market brought the focus of public attention on to the investment entities which manage holdings of real properties. Concerns grew particularly about the stability and liquidity of unlisted property trusts. Some of the worries related to asset valuations and whether the balance‐sheet representations of trusts' real property reflected likely recoverable amounts. These concerns were realised on 23 July 1991 when the Federal Government announced a 12‐month freeze on redemptions from all existing unlisted property trusts. The significance of the financial reporting policies of unlisted property trusts is amplified when their size is considered: for the quarter ending 30 June 1991, assets under management in unlisted property trusts which were members of the Investment Funds Association of Australia (IFA) totalled $6.7 billion. This article describes a survey of unlisted property trusts' general‐purpose financial reports.
Audit Pricing In Australia 1980‐1989
Authors: Graswell Allen
Published: January 2009

During the 1980s, auditors engaged in price competition which resulted in a marked decline in relative audit fees. Preliminary evidence suggests that, on average, larger companies experienced a saving of 40 per cent. Given the increases in overall audit costs during the 1980s, it is arguable that the savings can be explained by increases in efficiency. More research is required to determine whether the explanation lies with such cost savings or in a decline in audit quality.
Practical Problems In The Reporting Entity Concept
Authors: Picker Ruth
Published: January 2009

The concept of a reporting entity has been introduced into financial reporting in Australia through a number of statements and standards. These documents require reporting entities to prepare so‐called general‐purpose financial reports which comply with all statements of accounting concepts and accounting standards, whereas non‐reporting entities are not bound to the same level of compliance. Unfortunately, little authoritative guidance on interpretation and application of the reporting entity concept has come from either the Australian Accounting Standards Board or the Auditing Standards Board, despite the fact that the reporting entity concept has applied since 30 June 1992. The solutions proposed here may be temporary, given that the Corporations Law could be amended. It would be in readers' interests to consider any further authoritative guidance which might become available.
Limiting Auditors‘ Liability: The Potential Consequences
Authors: Monroe Gary S. , Juliana NG , Wellington Andrew J.
Published: January 2009

The recent revival of interest in the issue of limiting auditors' liability raises questions about the potential effect of such a limitation on auditors' performance. This paper considers the consequences of limited liability from the perspectives of contracting theory and economic arguments. We examine the potential effect of a reduction in auditors' liability on the standard of care or quality of service they provide, emphasising the “calculus of negligence” concept used by Australian courts. We consider the potential impact of reduced liability on the auditor's decision to shirk responsibilities (the moral hazard problem) and on the value placed on audit services. The analysis shows that placing a statutory cap on auditors' liability has the potential to reduce the effectiveness of bonding mechanisms; provide an avenue for divergent behaviour; lower the level of care provided by auditors; and decrease the value of audit services.
The Dividend Puzzle: An Australian Solution?
Authors: Nigol Robert E.G.
Published: January 2009

In the latter half of the 1980s, Australia made changes to its taxation law which affected the economics of asset ownership, particularly share ownership. The first of these changes was the introduction in September 1985 of a general tax on capital gains. The second was the virtual abolition of company tax through the introduction of tax imputation. In this changed tax environment it is argued that where the payment of franked dividends is concerned, there is an optimal dividend policy: companies should pay dividends to the limit of their franking account balances. In the case of unfranked dividends it is argued that there is no optimal policy and that Miller and Modigliani's clientele theory applies. The paper describes an analysis of the dividend payout ratios of the top 422 listed Australian companies from 1982 to 1990.
SAC 4 And The Challenge To The Mandatory Status Of Concepts Statements
Authors: Miller Malcolm C. , Loftus Janice A.
Published: January 2009

This paper expresses no doubt about the worth of concepts statements such as Statement of Accounting Concepts SAC 4 Definition and Recognition of the Elements of Financial Statements, which spells out the essential characteristics of assets, liabilities, equity, revenues and expenses along with broad criteria for their recognition in financial statements. However, the authors have reservations about giving mandatory status to such a statement. It is, after all, but one piece of a conceptual framework and as the other pieces take shape they may call for alterations in the interpretation and operation of the elements. Without the benefit of the light which might be cast by reference to other concepts statements, SAC 4 in isolation could lead to undebated and questionable consequences, as well as supplying equivocal guidance on many important issues. This paper examines the reasons for unrest about the mandatory status of concepts statements.
Liability Of Accountants And Auditors Under The Trade Practices Legislation
Authors: Godsell David
Published: January 2009

Legal liability is a major issue confronting the accounting profession and numerous papers have discussed aspects of professional negligence at common law. In contrast, however, the consumer protection provisions of the trade practices legislation and their judicial interpretations extend the nature and scope of professional liability well beyond that existing at common law. This paper discusses key aspects of the legislation, the ramifications of which have received little publicity and may be unfamiliar to the majority of accountants and auditors who are potentially at risk.
NSW Public‐Sector Audit Committees: A Survey Of Practice
Authors: Barkess Lynn , Guthrie James
Published: January 2009

In Australia, public‐sector support for the establishment of audit committees has come from the New South Wales Auditor‐General's Office, the Australian National Audit Office and the New South Wales Public Accounts Committee. The NSW Treasury has also issued guidelines which provide the “official” prescriptions for audit committee membership and functions. The concept of independent audit committees is not new. Their benefits in both the public and private sectors are widely accepted in the US and Australia‘. This paper examines the adoption of audit committees in NSW public‐sector organisations, perceptions of their importance and the degree to which they comply with guidelines.
Financial Reporting BY Local Government And The Disproportionate Requirements Of AAS 27
Authors: Falk Haim , Neilson John
Published: January 2009

This paper discusses the economic characteristics, and related financial reporting issues, of goods and services provided by local government. These goods are grouped into three categories: public, private, and mixed public/private goods and services. Modified cash‐based reports are found to be proper for government units that provide public and mixed goods, and accrual‐based accounting is appropriate for units that provide private goods. When the provision of mixed goods and services by local government is not mandatory, the disclosure of the market value of the assets employed in producing these goods or services is also warranted.
Predicting Corporate Failure Using Publicly Available Information
Authors: Constable Jason J. , Woodliff David R.
Published: January 2009

This study investigates the ability of publicly available failure‐prediction models to predict the failure of companies listed on the Australian Stock Exchange. The failure‐prediction models identified in the 1990 version ofAUP 17 were evaluated and re‐estimated using recent Australian data. In addition, a model was developed incorporating publicly available information not previously included in Australian failure‐prediction models. Variables measuring the size of the board of directors, changes to the board, the lag in reporting accounts, and average effective tax rates were added to the variable set. Most of the earlier models, the re‐estimated models and the expanded model significantly outperformed chance, which suggests that auditors should consider using such models as part of their going‐concern assessment procedures.
Liquidate Or Trade Out? An Expert System To Explain The Decision Process
Authors: Leech Stewart , Sexton Tiina‐Liisa
Published: January 2009

The decision to liquidate or trade out a company in financial distress requires considerable judgment by a provisional liquidator or administrator. While some general procedures and guidelines are available, there is no explicit framework to assist a provisional liquidator or administrator in making a recommendation to liquidate or trade out. This paper reports on the development of an expert system as a method of studying the judgments made by provisional liquidators or administrators in cases of corporate financial distress. The results reveal the major factors that are assessed in making a liquidate or trade‐out decision, and support recent calls for expanding the type of information provided by traditional accounting systems.
Voluntary Compliance With AAS 25: Another Look At the‘Reporting Paradox’
Authors: Klumpes Paul J. M.
Published: January 2009

Contrary to the findings of earlier research, this paper reports a low and declining level of voluntary compliance with important reporting provisions of AAS 25. Implications for AAS 25 of new “competing” government‐backed financial reporting regulations are also investigated. Examination of both “formal” annual accounts and “informal” member reports of various types of superannuation funds issued during 1991‐93 shows that many funds did not distribute AAS 25 reports to their members and, in fact, received very few requests for this information.
Application Of The Reporting Entity Concept To Universities
Authors: Hancock Phil , Tower Greg , Holloway David
Published: January 2009

The Australian Accounting Research Foundation's Statement of Accounting Concept 1 “Definition of the Reporting Entity” refers to dependent users and outlines three factors to be considered in determining whether dependent users exist. This study applies these factors to the tertiary education sector and concludes that public‐sector universities can legitimately be deemed reporting entities and should produce financial reports that fully comply with Australian accounting standards and concepts. In the light of this conclusion, the universities' annual reports are examined to determine whether there has generally been compliance. The study finds that 90% of the sampled university reports deviate from Australian accounting standards.
Valuing Employee Share Options: Four Australian Case Studies
Authors: Brown Philip , Dunlop Ian
Published: January 2009

We take four case studies to illustrate three issues: how ESOs are valued; how the valuation depends on assumptions; and how US proposals to account for ESOs would affect a company's financial profile. We adopt the Black‐Scholes options model to value ESOs issued by Brambles Industries, Coles Myer, Tabcorp Holdings and Westpac Banking Corporation. Under the FASB's proposal, after‐tax profit is lower and shareholders' funds and assets are higher beginning with the grant date. At the end of the amortisation period, assets and shareholders' funds would be the same as under current practice, but the fair value of the ESOs on their grant date would have been transferred from unappropriated profits to issued capital.
GreatExpectations: PublicPerceptionsOfTheAuditor'sRole
Authors: Monroe Gary S. , Woodliff David R.
Published: January 2009

The professional accounting bodies in Australia have undertaken a study of the “expectation gap” in perceptions of the auditing role and concluded that the public's image of the auditing profession will be enhanced if the differences in attitudes can be minimised. This paper analyses the views of auditors and financial report users about what the role of the auditor and the nature of an audit should be. The most significant differences between the auditors and the user groups relate to whether the auditor should be responsible for preventing and detecting fraud, detecting illegal acts, reporting whether the company is a reliable debtor or loan prospect and reporting the degree of confidence he or she has that the correct audit opinion has been issued. Where the differences represent “deficient standards” or “unreasonable expectations”, the professional bodies should consider changing auditor responsibilities or attempting to change users' attitudes.
Management Accounting Education In Australian Universities: A Review Of The Current State
Authors: Perera Sujatha , Harrison Graeme
Published: January 2009

The teaching of management accounting at tertiary institutions drew criticism in the mid‐to‐late 1980s on the grounds that course content and teaching methods were not keeping pace with changes in manufacturing technologies and the business environment. A study of management accounting programs in 30 Australian universities shows that the criticisms are largely being addressed, with most programs being well up‐to‐date in their coverage of many of the new topics and practices that have emerged in management accounting in recent years. Nonetheless, management accounting educators continue to see a number of constraints on effective teaching in this area.
Reaction To The Mandatory Write‐Down Provisions Of AASB 1010: Accounting For The Revaluation Of Non‐Current Assets
Authors: Cotter Julie , Martin Tracy , Stokes Donald
Published: January 2009

Commentators in the financial press claimed that the amendments to AASB 1010, Accounting for the Revaluation of Non‐Current Assets, issued in September 1991, would have “disastrous” implications for the accounts of companies. This paper is concerned with whether the amendments did indeed affect asset write‐down activities. An analysis of write‐down practices of 75 Australian companies before and after the amendments were operative suggests that the commentators' judgment could have been hasty.
Information Deficiencies in the Reporting of Litigation Loss Contingencies
Authors: Park David , Dagwell Ron
Published: January 2009

Accounting standards dealing with contingent losses often emphasise quantification and accrual of the losses under certain conditions. Where litigation loss contingencies are involved, this emphasis is at the expense of providing guidelines for the reporting of the uncertainties surrounding these events. This paper examines the uncertainty surrounding litigation loss contingencies and the need for more articulate guidelines for their reporting.
The Expectation Gap: the Next Step
Authors: Schelluch Peter , Green Wendy
Published: January 2009

The financial reporting and auditing phenomenon known as the “expectation gap” has been the subject of extensive inquiries and research. In Australia, the professional accounting bodies undertook an analysis of this work and in 1994 produced a comprehensive report including recommendations for “bridging the expectation gap”. Following public discussion of this study, the professional bodies commissioned a taskforce to make a further report on the recommendations. That report, completed early in 1996, appears to have failed to meet its objective.
Exploring the Seeds of Organisational Decline
Authors: Adler Ralph W.
Published: January 2009

This study develops a composite model and a two‐dimensional classification illustrating the seeds of organisational decline. In the first dimension, the origins of decline are shown as being internal or external to the organisation. The second dimension links the nature of the decline problem to people, technology, or fiscal policy factors. A Delphi study lent preliminary support to the conceptual model and suggested certain amendments. The revised model was then tested using a sample of 44 public accountants. The results suggest that accountants use information about an organisation's people, technology, and fiscal policies when assessing its likelihood of declining, and that human resources is the most powerful of the three factors.
The Relevance of Asset Revaluations over an Economic Cycle
Authors: Easton Peter , Eddey Peter
Published: January 2009

The results of tests reported in this paper show that asset revaluations accounted for in accordance with AAS 10/AASB 1010 provide information that is consistent with the information set used by investors in pricing the shares of a sample of Australian listed firms. The “value relevance” of asset revaluations occurs in periods of both rising and declining asset prices.
The Financial Value of Cultural, Heritage and Scientific Collections: A Public Management Necessity
Authors: Hone Phillip
Published: January 2009

The Australian community devotes substantial resources to building and maintaining public collections, such as its public museums and galleries. There has been comment in this journal and elsewhere on the case for placing a financial value on cultural, heritage and scientific collections. In this paper the framework proposed by Carnegie and Wolnizer (1995) is extended to show that the valuation of the service flows that come from public collections is not only feasible; it is also desirable from a public management perspective. The paper presents the case for valuing public collections and analyses alternative valuation procedures. It concludes that the valuation of public collections is an essential component of any sound system of management of the resources applied to the running of activities such as public museums and art galleries.
The Financial Reporting of Publicly‐owned Collections: Whither Financial (market) Values and Contingent Valuation Estimates?
Authors: Carnegie G.D. , Wolnizer P.W.
Published: January 2009

In a continuation of the debate about the valuation of public arts collections for financial reporting purposes, the authors respond to the preceding article with an affirmation of their view that collection items cannot generally be valued as financial assets. Further, they reject the proposition that the contingent valuation method provides an objective approach to measuring the benefits flowing from public collections.
Users' Perceptions of the Auditing Responsibilities for the Prevention, Detection and Reporting of Fraud, Other Illegal Acts and Error
Authors: Gay Grant , Schelluch Peter , Reid Ian
Published: January 2009

This paper reports the results of a questionnaire administered to ascertain financial report users' perceptions of auditor's responsibilities for the prevention, detection and reporting of fraud and other irregularities, including other illegal acts and error. It appears that users may have “unreasonable” expectations of auditors' responsibilities for irregularities, particularly in relation to the prevention of fraud and the detection of illegal acts, and that a “deficient standards” gap may exist in relation to immaterial fraud. Users who had considerable business experience, were familiar with financial reports, had investment experience or had undertaken an auditing subject as part of their tertiary studies had more moderate expectations of auditors' responsibilities in relation to irregularities, and their perceptions were closer to those of the auditing profession than users who did not have these characteristics.
The Competitive Imperative of Harmonisation with International Accounting Standards
Authors: Humphry Richard
Published: January 2009

Substantial harmonisation of Australian and international accounting standards may be a fact by the end of 1998. It is hoped that as part of the process, international standards may come to reflect what Australian standard‐setters regard as best practice. The harmonisation program will have a significant effect on the competitiveness of our financial services industry and of many of our internationally competing companies.
Observing the PSASB: ED 50 and the Recognition of Infrastructure Assets
Authors: Carnegie Garry , West Brian
Published: January 2009

Provisions of AAS 27 significantly expanding the recognition of assets in local government financial statements have proven to be controversial, particularly through their application to items of infrastructure. In one instance, state legislation was amended to overrule the standard. More recently, the standard itself has been amended to extend the relevant transitional provisions. To assist in explaining why an accounting issue ostensibly resolved through the due process of standard‐setting continues to generate controversy, the responses to the exposure draft (ED 50) that preceded the standard were reviewed and analysed. This led to the conclusion that any inference that respondents to ED 50 generally supported the proposals relating to accounting for infrastructure items is, at best, problematic. This paper provides insights to standard‐setting processes, particularly the workings of the Public Sector Accounting Standards Board and the extent of its responsiveness to parties affected by its deliberations.
International Harmonisation: He Who Pays the Piper Calls the Tune
Authors: Howieson Bryan
Published: January 2009

This article reviews the historical background to the call for Australian accounting standards (AASBs) to be “harmonised” with international accounting standards (LASs) and analyses the major arguments for and against it. The companion article by Tarca reviews research on the extent of harmony between national standards (including AASBs) and LASs and the third article in the series, by Brown and Clinch, reports the available capital‐market evidence on the debate.
The Measurement of International Harmonisation in Financial Reporting
Authors: Tarca Ann
Published: January 2009

Several developments in the harmonisation of accounting standards are described in the accompanying article by Howieson. This article explains how harmonisation can be measured and refers to studies of the harmonisation of accounting standards and of financial reporting in practice. These studies have measured harmonisation in Europe, the US and Japan, as well as comparing accounting standards and reporting practices under Australian accounting standards (AASBs) and international accounting standards (LASS).
Australian Proprietary Companies' Demand for External Auditing
Authors: BAXTER PETER , PRAGASAM JOHN
Published: January 2009

The recently introduced size test for proprieta ry companies could mean that some companies that were exempt would now be required to have annual audits, while some non‐exempt companies would no longer be required to have annual audits. This paper considers the reasonableness of the size test and evaluates the proposition that proprietary company audits are not all legislation‐driven.
An American View on CLERP
Authors: ZEFF STEPHEN A.
Published: January 2009

Problems of interpretation and acceptability do not appear to have deflected the Australian government from its determination to impose international accounting standards as the basis of the country's accounting practice. This analysis finds no persuasive explanation for the government's approach.
Use of a Spreadsheet‐Based Marking System for Assignment Administration
Authors: BLAYNEY PAUL
Published: January 2009

This paper describes the development of a spreadsheet‐based marking system and its use in accounting courses at the University of Sydney. The system was intended to provide large numbers of students with timely and accurate feedback on assignments in a resource‐constrained environment and to foster use of the computer spreadsheet. Features of the system include minimal instructor involvement, student feedback options and mechanisms to reduce over‐collaboration between students.
Unravelling the Rhetoric About the Financial Reporting of Public Collections as Assets
Authors: CARNEGIE GARRY , WOLNIZER PETER
Published: January 2009

The accounting treatment of publiclyowned cultural, heritage and scientific collections has been the subject of international debate, including a number of articles in recent issues of Australian Accounting Review. Here, the debate continues with a rejoinder to a view published in the May 1997 issue of the journal.
Public‐Sector Outsourcing and Charging in‐house Bidders for their use of Capital
Authors: JOHNSTONE DAVID
Published: January 2009

In the formal process of determining whether there are potential savings from contracting out, public‐sector agencies in Australia and Great Britain are required by various government‐issued guidelines to measure the relevant costs of in‐house activities and to compare these with external bids. The cost comparison methodology explained and demonstvated in some of the most rigorous of these published guidelines is mistaken in its treatment of the costs to agencies of owning and using capital assets. There are two distinct mistakes in the demonstrated treatment of capital costs, both adding to the apparent costs associated with in‐house capital, and hence to some degree tilting the analysis against acceptance of any in‐house bid.
Analytical Procedures: Promise, Problems and Implications for Practice
Authors: BIGGS STANLEY F. , MOCK THEODORE J. , SIMNETT ROGER
Published: January 2009

Analytical procedures are widely used evidence evaluation techniques which aid in the efficient and effective undertaking of audits. The use of analytical procedures is prescribed by auditing standards at both the planning and conclusion stages of the audit, and the reliance on these techniques is increasing under the newer audit methodologies. This paper reviews the descriptive and behavioura1 research which has examined the use and effectiveness of these procedures. The implications of these research findings for academics, practitioners and standard‐setters are discussed.
Assurance Services and Associated Research Opportunities
Authors: SIMNETT ROGER , TROTMAN KEN T.
Published: January 2009

Discussions on research opportunities in the assurance services area have so far originated in North America. Two of the better known research perspectives have been those presented by Elliott (1995) and Kinney (1998). These have tended to emphasise the changing landscape for assurance services and the changing relationship between the assurance provider and the user. This paper provides a further consideration of future research opportunities from both an economic and behavioural perspective.
Public and Private Sector Accounting ‐ The Non‐identical Twins
Authors: BARTON ALLAN
Published: January 2009

A debate in this journal, spanning severa1 years, over the accounting treatment of public assets has concentrated attention on the appropriateness of the Public Sector Accounting Standards Board's decision to apply private sector accounting concepts to the development of public sector accounting standards. The Case is examined here and it is shown why private sector accounting standards must be appropriately adapted to suit a very different and varied operating environment in the public sector. These differences have been largely ignored, with resulting problems for public sector accounting standards.
Revisiting the Review of the Victorian Audit Act
Authors: HARRIS A. C.
Published: January 2009

The May 1997 and May 1998 issues of Australian Accounting Review canvassed issues concerning the Maddock' review of the Victorian Audit Act 19942 In 1999 it is debatable whether an outsider to that process of “reform” can add anything fresh to the discussion. But the lapse of time, even if it is too short to identify all of the practical consequences of the amendments to that act which the Maddock review allowed, can at least provide a dispassionate re‐examination of the arguments as then advanced by the Maddock committee and accepted by the Victorian government.
Now And The Future
Authors: BAXTER JANE , CHUA WAI FONG
Published: January 2009

Knowledge. management has become part of the rhetoric, if not the reality, of the post‐modern business world. There is a widely perceived link between the financial performance of enterprises and the way they cultivate, nurture and exploit the knowledge of individuals and that embodied in their business or professional processes. This paper reviews the emerging literature of knowledge management and points to research opportunities that could lead to a greater understanding of this “next big idea”.
Intellectual Capital Statements and Knowledge Management: ‘Measuring’, ‘Reporting’, ‘Acting’
Authors: LARSEN HEINE THORSGAARD , BUKH PER NIKOLAJ D. , MOURITSEN JAN
Published: January 2009

This paper discusses the relationship between intellectual capital and knowledge management. Based on five empirical examples, it suggests that intellectual capital statements are complex forms of measuring, reporting and acting at the same time. Measurement and process conflate, because there is little attempt to measure the “true” value of intellectual capital in empirical intellectual capital statements. In contrast, there is attention to a broad sense of reporting and communication, which consist not only of measures but also of stories and sketches. The “object” to be illuminated and managed via intellectual capital statements is knowledge management activities rather than knowledge itself.
The Implementation of Innovative Management Accounting Systems
Authors: CHENHALL ROBERT H. , LANGFIELD‐SMITH KIM
Published: January 2009

This paper reports on innovations in management accounting systems (MAS) in three Australian manufacturing enterprises. The study is based on the premise that systems characteristics of the MAS innovations develop in response to triggers for adoption, and the outcomes achieved from the innovative systems will depend on the effective implementation of the costing systems. The MAS innovations implemented include activity‐based costing, activity‐based management, benchmarking, integrated budgetary system, key performance indicators and balanced scorecards. Five factors influencing the successful implementation of innovative MAS are proposed: commitment to the initiatives; a successful pilot application; incremental development; appropriate training; and integration with other processes and systems.
Measuring the Performance Drivers of a Pilot Implementation of a Purchasing Card System
Authors: FREE CLINTON , BRIERS MICHAEL , CHUA WAI FONG , LUCKETT PETER
Published: January 2009

Corporate purchasing cards have been offered as an efficient means of maintaining control over purchasing while reducing the administrative cost associated with the acquisition of low‐dollar items. However, despite its growing popularity, there has been little systematic research on the use of this technology. This study uses archival data and a survey of users from a single large organisation to describe the nature of purchasing card technology and to investigate the consequences of its implementation. The card was found to be more positively accepted by younger, more committed employees who had shorter periods of tenure at the organisation studied, but who had received higher levels of supervisory encouragement, and who had more experience with credit cards.
Major Issues Associated With the Reporting of Government Net Worth
Authors: NG CHEW , SHEAD BOB
Published: January 2009

Modern governments are increasingly making legislative commitments to adopt responsible fiscal policies and, as part of those commitments, undertaking to maintain their net worth and to report against that undertaking. With recent developments in public‐sector accounting, reporting of government net worth and change of net worth has become possible. This paper examines some major issues relating to the reporting of government net worth. As attempts to provide for the measurement of assets and liabilities (the components of net worth) on a current value basis have met significant opposition in the private sector, some implications for the public sector are considered.
What do Australian Annual Reports Say About Future Earnings?
Authors: CHOON HENRY , SMITH MICHELLE , TAYLOR STEPHEN
Published: January 2009

Prospective earnings information in Australian firms' annual reports has been claimed to be of sufficient importance to warrant its statutory requirement, or at least its “active encouragement”. With the introduction of AASB 1039 Concise Financial Reports, management discussion and analysis is required in some circumstances, although there is no explicit requirement to provide prospective earnings disclosures. A survey of a sample of ASX‐listed firms shows that about 25% include some form of earnings forecast, although most are qualitative, while even a coarse measure of their accuracy suggests they are relatively unreliable. These results give rise to some concern that encouraging the provision of prospective earnings data may not necessarily assist investors.
The Development of Specialist Industry Knowledge in Government Auditing
Authors: SIMNETT ROGER , LUCKETT PETER , WRIGHT ARNOLD M.
Published: January 2009

Government auditors play an important role in overseeing public agencies, yet there is little understanding of the types of knowledge that specialist industry auditors require in this environment and how this knowledge is acquired. This study develops a portfolio of knowledge items that various sources have suggested are important for industry‐specialist auditors. It was found that the items perceived to be of greatest importance to government auditors were contained under the broad knowledge categories of “accounting”, “auditing”, and “entity‐specific factors”. Most of the specialised knowledge is acquired on the job, although some of this knowledge may be better acquired through formal training.
Supervisory Factors Affecting Job Satisfaction in Public Accounting Firms
Authors: CLABAUGH C. ALLEN , MONROE GARY S. , SOUTAR GEOFFREY N.
Published: January 2009

This paper reports the results of a survey of 350 junior‐level accountants working at public accounting firms in Australia. The survey obtained information on their perceptions of the extent to which the supervisory actions recommended in the Accounting Education Change Commission's (AECC)Issues Statement No. 4 were applied in their organisations. We test whether these supervisory actions have an effect on their job satisfaction. The results indicate that each of the three major elements of supervisory actions recommended by the AECC ‐ leadership and mentoring, working conditions and assignments ‐are significantly associated with overall job satisfaction.