bluuebunny/crossref_metadata_2025 huggingface dataset:
Resolving climate change in the period 15–23 ka in Greenland ice cores: a new application of spectral trend analysis
Authors: De Jong Mat G. G. , Nio Djin S. , Böhm Alain R. , Seijmonsbergen Harry C. , De Graaff Leo W. S.
Published: February 2009

Northern Hemisphere climate history through and following the Last Glacial Maximum is recorded in detail in ice cores from Greenland. However, the period between Greenland Interstadials 1 and 2 (15–23 ka), i.e. the period of deglaciation following the last major glaciation, has been difficult to resolve in great detail. We here offer a new subdivision of this in the NGRIP, GRIP and GISP2 ice cores, by newly introducing spectral trend analysis to the study of climate‐related data series from ice cores. This analysis reveals patterns of change and discontinuity in the waveform properties of a data series, relating to the environmental (including climatic) history of accumulation of the rock or ice record. The application allows high‐resolution correlation between the ice cores, and a greatly improved subdivision of the study interval. Nine climatic phases are recognized, within which more identifiable events can also be correlated between the three locations.
Muco‐ciliary differentiation of nasal epithelial cells is decreased after wound healing in vitro
Authors: Lazard D. S. , Moore A. , Hupertan V. , Martin C. , Escabasse V. , Dreyfus P. , Burgel P.‐R. , Amselem S. , Escudier E. , Coste A.
Published: February 2009

Background:  Epithelial damage and modifications of cell differentiation are frequent in airway diseases with chronic inflammation, in which transforming growth factor‐β1 (TGF‐β1) plays an important role. The aim of this study was to evaluate the differentiation of human nasal epithelial cells (HNEC) after wound healing and the potential effects of TGF‐β1.

Methods:  Basal, mucus, and ciliated cells were characterized by cytokeratin‐14, MUC5AC, and βIV tubulin immunodetection, respectively. Their expression was evaluated in situ in nasal polyps and in an in vitro model of wound healing in primary cultures of HNEC after wound closure, under basal conditions and after TGF‐β1 supplementation. Using RT‐PCR, the effects of TGF‐β1 on MUC5AC and DNAI1 genes, specifically transcribed in mucus and ciliated cells, were evaluated.

Results:  In situ, high TGF‐β1 expression was associated with low MUC5AC and βIV tubulin expression. In vitro, under basal conditions, MUC5AC expression remained stable, cytokeratin‐14 expression was strong and decreased with time, while βIV tubulin expression increased. Transforming growth factor‐β1 supplementation downregulated MUC5AC and βIV tubulin expression as well as MUC5AC and DNAI1 transcripts.

Conclusion:  After a wound, differentiation into mucus and ciliated cells was possible and partially inhibited in vitro by TGF‐β1, a cytokine that may be involved in epithelial remodeling observed in chronic airway diseases.
Posttraumatic stress disorder and substance use disorder in adolescent bipolar disorder
Authors: Steinbuchel Petra H , Wilens Timothy E , Adamson Joel J , Sgambati Stephanie
Published: February 2009

Objective:  Anxiety disorders such as posttraumatic stress disorder (PTSD) and substance use disorders (SUD) are increasingly recognized as comorbid disorders in children with bipolar disorder (BPD). This study explores the relationship between BPD, PTSD, and SUD in a cohort of BPD and non‐BPD adolescents.

Methods:  We studied 105 adolescents with BPD and 98 non‐mood‐disordered adolescent controls. Psychiatric assessments were made using the Kiddie Schedule for Affective Disorders and Schizophrenia–Epidemiologic Version (KSADS‐E), or Structured Clinical Interview for DSM‐IV (SCID) if 18 years or older. SUD was assessed by KSADS Substance Use module for subjects under 18 years, or SCID module for SUD if age 18 or older.

Results:  Nine (8%) BPD subjects endorsed PTSD and nine (8%) BPD subjects endorsed subthreshold PTSD compared to one (1%) control subject endorsing full PTSD and two (2%) controls endorsing subthreshold PTSD. Within BPD subjects endorsing PTSD, seven (39%) met criteria for SUD. Significantly more SUD was reported with full PTSD than with subthreshold PTSD (χ2 = 5.58, p = 0.02) or no PTSD (χ2 = 6.45, p = 0.01). Within SUD, the order of onset was BPD, PTSD, and SUD in three cases, while in two cases the order was PTSD, BPD, SUD. The remaining two cases experienced coincident onset of BPD and SUD, which then led to trauma, after which they developed PTSD and worsening SUD.

Conclusion:  An increased rate of PTSD was found in adolescents with BPD. Subjects with both PTSD and BPD developed significantly more subsequent SUD, with BPD, PTSD, then SUD being the most common order of onset. Follow‐up studies need to be conducted to elucidate the course and causal relationship of BPD, PTSD and SUD.
Memory functioning in familial bipolar I disorder patients and their relatives
Authors: Quraishi Seema , Walshe Muriel , McDonald Colm , Schulze Katja , Kravariti Eugenia , Bramon Elvira , Morris Robin G , Murray Robin M , Toulopoulou Timothea
Published: February 2009

Objective:  The aim of this study was to compare the memory function of patients with familial bipolar I disorder (BD I) who had shown psychotic features, their non‐psychotic, non‐bipolar first‐degree relatives, and normal controls.

Method:  We assessed 38 patients with a lifetime diagnosis of BD I who had experienced psychotic symptoms, 49 of their non‐psychotic, non‐bipolar first‐degree relatives, and 44 controls. Patients and relatives were from families multiply affected with functional psychotic illness. A five‐subtest short form of the Wechsler Adult Intelligence Scale–Revised and three Wechsler Memory Scale subtests were administered to all participants.

Results:  BD I patients showed deficits in verbal memory and verbal learning but not in visual memory. Compared to controls, relatives showed worse verbal learning at a statistically significant or suggestive level and performed significantly worse in both immediate and delayed verbal memory. Similar to patients, there were no differences between the relatives and control group for visual memory.

Conclusion:  Impaired verbal memory and learning were found in patients and their relatives. These deficits may represent candidate endophenotypic markers for bipolar disorder.
Investigating the association between neurocognition and psychosis in bipolar disorder: further evidence for the overlap with schizophrenia
Authors: Jabben Nienke , Arts Baer , Krabbendam Lydia , Van Os Jim
Published: February 2009

Objectives: In schizophrenia, a distinction is made between psychosis with developmental and cognitive impairment on the one hand and psychosis without developmental impairment and positive symptoms on the other. In this study, we investigated whether this model can be extended to bipolar disorder by testing the hypothesis that neurocognitive functioning is inversely related to positive psychotic symptoms in bipolar disorder.

Methods: Neurocognitive functioning and psychopathology were assessed in (i) 76 patients with bipolar disorder, (ii) 39 of their healthy first‐degree relatives, and (iii) 61 healthy controls. Cognitive performance of bipolar patients and their first‐degree relatives was investigated, taking into account the possible moderating effect of the level of expression of psychosis in patients and relatives.

Results: Bipolar patients showed impaired cognitive performance on multiple cognitive domains, whereas performance of their relatives was comparable to that of controls. A history of psychotic symptoms in patients was suggestive of less likelihood of cognitive alterations in relatives, and the presence of subclinical psychotic symptoms within the group of relatives predicted better cognitive performance.

Conclusions: The finding of similar psychosis‐cognition associations in bipolar disorder as implied by the two pathways leading to nonaffective psychotic disorders suggests that this model might be extended to the continuum spanning affective and nonaffective psychosis. This is in line with the idea of a partially overlapping vulnerability to bipolar disorder and schizophrenia and provides an explanation for the apparent differences in cognitive alterations in those at risk for the two disorders.
Association study in a Sardinian sample between bipolar disorder and the nuclear receptor REV‐ERBα gene, a critical component of the circadian clock system
Authors: Severino Giovanni , Manchia Mirko , Contu Paolo , Squassina Alessio , Lampus Simona , Ardau Raffaella , Chillotti Caterina , Del Zompo Maria
Published: February 2009

Objective:  The aim of our study was to investigate the association between REV‐ERBα gene (NR1D1) single nucleotide polymorphisms (SNPs) and bipolar disorder (BP) in a case‐control sample of Sardinian ancestry and evaluate its effect on age at onset (AAO) of BP.

Methods:  We genotyped SNPs rs12941497 (SNP1) and rs939347 (SNP2), located, respectively, in the first intron and in the 5′UTR region of the gene, in a sample comprised of 300 bipolar patients and 300 healthy controls of Sardinian ancestry. We also studied AAO by means of admixture analysis, obtaining a cutoff point of age 22 and then carrying out association analysis between the two AAO groups.

Results:  In the case‐control comparison, single marker analysis showed no association for any of the SNPs tested. Haplotype analysis showed a nominally significant association for two haplotypes of SNPs 1‐2. Comparing the early‐ and later‐onset groups, nominal association was found for SNP1. Haplotype analysis showed that one haplotype was nominally associated with the later‐onset group.

Conclusions:  Our results, indicating a nominal association of the REV‐ERBα gene with BP, suggest a possible role of REV‐ERBα in the pathogenesis of BP. Further investigation of larger independent samples and different populations is warranted.
Post‐transfusion mortality among recipients of ABO‐compatible but non‐identical plasma
Authors: Shanwell A. , Andersson T. M.‐L. , Rostgaard K. , Edgren G. , Hjalgrim H. , Norda R. , Melbye M. , Nyrén O. , Reilly M.
Published: February 2009

Background and Objectives  The consequences of ABO‐compatible non‐identical plasma for patient outcome have not been studied in randomized clinical trials or large cohort studies and use varies widely in the absence of evidence‐based policies. We investigated if transfusion with compatible instead of identical plasma confers any short‐term survival disadvantage on the recipients.

Materials and Methods  The cohort of all 86 082 Swedish patients who received their first plasma transfusion between 1990 and 2002 was followed for 14 days and the risk of death in patients exposed to compatible non‐identical plasma compared to recipients of only identical plasma.

Results  After adjustment for potential confounding factors, there was an increased mortality associated with exposure to ABO‐compatible non‐identical plasma, with the excess risk mostly confined to those receiving 5 or more units (relative risk, 1·15; 95% confidence interval, 1·02–1·29). Stratification by blood group indicated higher risks in group O recipients, especially when the compatible plasma was from a group AB donor.

Conclusions  This study suggests that ABO‐compatible non‐identical plasma is less safe than identical plasma. Subanalyses by blood group suggest a role for circulating immune complexes. Our findings may have policy implications for improving transfusion safety.
The effect of colorectal cancer upon host peripheral immune cell function
Authors: Evans C. F. M. , Galustian C. , Bodman‐Smith M. , Dalgleish A. G. , Kumar D.
Published: February 2009

Objective  Colorectal cancer is immunogenic. However, it is also associated with suppression of host immunity. Identifying the mechanisms involved in immune suppression is necessary to develop future immunotherapeutic strategies. The aim of this study was to assess immune cell function in colorectal cancer patients.

Method  A total of 80 colorectal cancer patients (41 male) prior to treatment and 38 matched controls (21 male) were recruited. Venous blood samples were taken. White blood cell composition was determined using monoclonal antibodies. Levels of cytokines IFN‐γ, TNF‐α, IL‐2, IL‐10, IL‐4 and IL‐6 were measured from the supernatants of activated peripheral blood mononuclear cells (PBMC) following thawing and re‐suspension. Peripheral blood mononuclear proliferation was measured using 3H‐Thymidine.

Results  Stage I‐III cancer patients had elevated percentages of CD8 T cell (P = 0.004) whilst stage IV patients had low total lymphocyte percentages (P = 0.016). Monocyte and NKT cell percentage decreased with advanced tumour stages (P = 0.013 and P = 0.038). Patients had lower PBMC proliferation and production of the TH1 cytokines (IFN‐γ and TNF‐α) (P < 0.001) than that of the controls. IL‐6 and IL‐4 production were not significantly different. IFN‐γ and TNF‐α concentrations reduced with tumour vascular invasion (P = 0.011 and P = 0.019).

Conclusion  Colorectal cancer induces an immunological response, shifting the cytokine balance. The most profound changes are seen once disease has spread systemically.
AN OVERALL STRUCTURE FOR MANAGEMENT PLANNING AND CONTROL*
Authors: Burke Walter L. , Macmullen John S.
Published: February 2009

There has been criticism of the lack of attention given by the academic community to overall planning theory. To develop an overall structure for management planning and control is the purpose of this study. Some writers classify plans according to their time span, for example, long, medium and short range, but we attempt to classify them in relation to management functions. Several conceptual and operational planning models are examined, and a structure similar to the consensus emerging from these is presented. Decisions and decision models are examined and integrated with the various levels of the management process and thus an overall framework is developed.
THE PROFILE OF AUDIT PRACTICE IN AUSTRALIA: SOME FURTHER ANALYSIS
Authors: Gilling D. M.
Published: February 2009

This paper examines the degree of audit concentration and audit specialization in local Government Auditing in Australia. The results cast new light on the structure of the audit profession in Australia and the role of medium sized and small audit firms in that structure.
SOME OBSERVATIONS ON THE FOUNDATIONS OF THE CURRENT VALUE DEBATE
Authors: Anderson D. K. , Leo K. J. , Whittred G. P.
Published: February 2009

Proponents of alternative accounting information production systems have, in supporting their alternative, usually demonstrated the superiority of their system conditional upon assumptions about the producers and consumers of accounting information, and in light of the lack of evidence on the issue, assumptions about the relative costs and benefits of their system.

This paper addresses the premises that are implicit in the usual arguments for one or the other form of current value accounting and reaches the general conclusion that the arguments for change are not as compelling as they may, at first glance, appear to be.
A NOTE ON THE POSSIBILITY OF INCOME MANIPULATION THROUGH THE ABSORPTION OF FIXED OVERHEAD
Authors: Winsen Joseph K.
Published: February 2009

In an absorption costing system manipulation of budgeted fixed manufacturing costs and “normal volume” can affect reported net income. This note outlines the relationships involved and how they are affected by the treatment of under or over‐applied overhead.
ACCOUNTANTS AND ACCOUNTING: A STUDENT PERSPECTIVE
Authors: Taylor D. B. , Dixon B. R.
Published: February 2009

The concept of a stereotype accountant has previously been researched and reported in the literature. This study examines the attitudes of management studies students towards accounting and the accounting profession. The attitudes were measured using semantic differential and Likert‐type scales. Differences between year of study and intended major were examined.
ALGEBRA AS A TEACHING AID FOR CONSOLIDATED BALANCE SHEETS
Authors: Francis J. R.
Published: February 2009

Consolidated financial statements are typically taught by the use of a consolidated worksheet. Adjustments in journal entry form are made on the worksheet to derive a consolidated result. Students often have difficulty with the worksheet adjustment methodology because it focuses more on the adjustment rules than on the underlying consolidation objective. An alternative methodology based on algebra overcomes the deficiencies inherent in the worksheet approach. Algebra is suggested to be a rigorous and concise tool for use in teaching consolidation objectives and in solving consolidation problems.
THE COMPUTER BASED ACCOUNTING INFORMATION SYSTEMS COURSE
Authors: Cerullo Michael J.
Published: February 2009

This note examines the importance of the accounting information systems course in the undergraduate accounting curriculum. Most accounting departments offer this course on an elective basis. However, the course should be required by all undergraduate accounting majors. By scheduling the course late in the formal academic program, the material will serve as a consolidating and integrating device. Accounting students will learn specific techniques enabling them to fully comprehend the interrelationships among all accounting courses completed.
THE REACTION TO CURRENT COST ACCOUNTING PROPOSALS BY GOVERNMENT REGULATORY AUTHORITIES*
Authors: Leech Stewart A.
Published: February 2009

The aim of this paper is to investigate the reaction to recent pronouncements on inflation accounting by two government regulatory authorities who have been major users of accounting data — the Monopolies and Mergers Commission in the United Kingdom and the Prices Justification Tribunal in Australia. The evidence indicates that:

the Monopolies Commission reacted quickly to accounting pronouncements and either allowed or requested companies to present accounting data based on current values; and

the PJT reacted to the CCA (and other) proposals by stating continually that it would “take into account” the effect of inflation on company returns, but was in a quandary on how to allow for the extremely low and sometimes negative CCA rates of return. The paper concludes by examining some of the reasons why the CCA proposals are not suitable for calculating accounting rates of return for prices justification purposes.
THE ‘QUASI‐JUDICIAL’ ROLE OF THE AUDITOR
Authors: Gilling D. M.
Published: February 2009

The conventional wisdom in Australasia ascribes a quasi‐judicial role to the auditor. This paper shows that such a notion does not provide a complete or accurate description of the character of the auditor's office, and his role and function in society.

It argues that the significance of the quasi‐judicial notion is to highlight the importance of the attribute of independence.
MULTI‐PERIOD CAPITAL ASSET PRICING MODELS ‐ A REVIEW OF DEVELOPMENT
Authors: McDougall F. M.
Published: February 2009

This paper considers the single‐period Capital Asset Pricing Model and its shortcomings for corporate investment decisions. The conditions under which a multi‐period version of the model can be developed are discussed. Previous notable attempts at developing such a model by a number of writers including Stapleton, Brennan, Bogue and Roll, Myers and Turnbull, and Fama are reviewed.
A NOTE ON AUDIT REPORT READABILITY
Authors: Pound G. D.
Published: February 2009

Effective communication of the information contained in audit reports depends on how easily the general user of such reports can understand them. This study of audit reports indicates that many users of the reports have difficulty in understanding them.
A CONCEPTUAL APPROACH TO THE PROBLEM OF INCORPORATING THE PHENOMENON OF DEBT INTER DEPENDENCIES UPON LIQUIDATION
Authors: Dean G. W. , Luckett P. F.
Published: February 2009

Where there exists a set of companies with debt interdependencies, the ability of one of the companies to repay its debts partly depends, either directly or indirectly, upon the ability of the other companies in the set to repay their debts. Theoretically, if the debt owing to a company is to be valued accurately [i.e. in terms of its realizable value] the valuation should take into account the financial consequences of the corporate debt interdependencies. The purpose of the paper is to explain and illustrate two methods which could be used to overcome this problem. One of the methods involving matrix algebra, although its use results in an equitable solution to the problem, (i) is found to be inefficient where the number of companies having cross debts is large and (ii) has only partial applicability. The second method employing linear programming techniques provides a solution that (i) is efficient and (ii) has general applicability to the problem of recognizing debt interdependencies upon liquidation.
CLARIFYING FUNDS STATEMENTS — THE TWO ENTITY TEST
Authors: McKinnon Jill L. , Martin Carrick A. , Partington Graham H.
Published: February 2009

A major shortcoming of the funds statement prepared under a resources concept is that the meaning of the term “resources” is unclear. A transaction test is usually adopted to identify entries involving funds, but it is apparent from published reports and from the Australian profession's recent exposure draft that substantial confusion remains. One response has been to reject the broader concepts in favour of narrower definitions such as cash or working capital. In this article, however, it is argued that an all resources funds statement, properly defined, has an important contribution to make. A “two entity” test is proposed which is claimed to be tighter and closer to the spirit of the original resources concept than the present transaction test.
THE ROLE OF INFLATION‐ADJUSTED ACCOUNTING DATA IN CORPORATE RISK ANALYSIS: AN EMPIRICAL INVESTIGATION*
Authors: Maksy Mostafa M.
Published: February 2009

Both in the U.S. and abroad, certain large companies are required to report accounting data adjusted for the effect of changing prices. This study investigated the role of such adjusted accounting data in corporate risk analysis. Loan decision situations were constructed for a firm whose income from continuing operations reported in accordance with Statement of Financial Accounting Standard No. 33 (SFAS 33) was drastically reduced. Questionnaires were mailed to 1,050 randomly selected bank lending officers (BLOs) in 240 banks in 40 states and the District of Columbia. A group of BLOs received no SFAS 33 data and served as a control. While most of the responding BLOs did not seem to use SFAS 33 data in making their decisions, those who reported that they used such data reached significantly different decisions from those of the control group. More specifically, the users evaluated the firm twice as risky and recommended significantly lower loans than the control group with respect to both short‐term and long‐term loans. Furthermore, the users spent significantly more time in data analysis and decision making than the control group.
TAX INCENTIVES AND HIGH RISK INVESTMENT
Authors: Standish Peter E. M.
Published: February 2009

The objectives of this paper are to examine reasons for the Australian Government's decision to create a tax incentive for high risk (hi‐tech) industries. Comparisons are made with similar policies in other countries, and policy issues related to the administration of the Australian scheme are discussed. The paper does not attempt to examine the broader issue of whether or not there is a requirement for such a scheme to encourage hi‐tech industries.
PERCEPTIONS OF AUSTRALIAN FINANCE MANAGERS ON THE IMPACT OF ADVERTISING ON THE ACCOUNTING PROFESSION: SOME EMPIRICAL EVIDENCE
Authors: Teoh Hai‐Yap , Gull Ferdinand A.
Published: February 2009

This study examines the perceptions and attitudes of finance managers to the removal of advertising restrictions by public accounting firms. Twelve null hypotheses which were formulated and tested regarding the perceptions of finance managers to a range of issues related to advertising by public accounting firms indicated that younger finance managers without a tertiary education and who had no previous public accounting experience perceived greater overall positive benefits from complete removal of advertising restrictions. Older finance managers believed that greater overall detrimental effects would result if advertising restrictions were completely removed.
TARGET PAYOUT AND THE ASSOCIATION BETWEEN DIVIDENDS AND SHARE PRICES*
Authors: Roy S. Paul , Cheung Joseph K.
Published: February 2009

The hypothesis that share prices react differently to unexpected dividend changes conditional upon firm target payouts is examined empirically. The cumulative abnormal return metric is used to measure price reactions for firms in various combinations of target payout class and dividend change. Two models are used as surrogates for expected dividends: the Fama‐Babiak model and one using analyst dividend forecasts. In general, the information hypothesis is not supported in the case of unexpected dividend decrease, but target payout is found to be a significant explanatory variable of share price behaviour in the case of unexpected dividend increase.
A Note on the Financial Variable and Ratio Structure of New Zealand Listed Companies*
Authors: Mear Ross , Firth Michael
Published: February 2009

This paper reports the results of an investigation into the financial structure of accounting variables and ratios of New Zealand listed firms. Seven major factors were identified and these accounted for more than 82 percent of the information contained in a set of forty‐four variables. These factors are labelled profitability, size, activity, solvency, liquidity, growth in size and, growth in profits/profitability. Although the first five factors have also been identified as separate corporate dimensions in studies conducted in the United States and elsewhere, variables representing growth have not been examined before. Our study suggests that the growth variables represent two distinct and significant factors.
Accounting for Goodwill on Consolidation Before and After AAS 18
Authors: Carnegie Garry D. , Gibson Robert W.
Published: February 2009

The paper examines accounting practices in the treatment of goodwill on consolidation by listed companies in the periods before and after the application of AAS 18. A previous study established that prior to the advent of AAS 18, considerable diversity existed in this area of accounting practice. The accounting profession sought through AAS 18 to seek uniformity in the treatment of goodwill on consolidation. The survey evidence shows there is a high level of non‐compliance with this standard, hence substantial diversity continues.
The Role of Accounting Information, Environment and Management Control in Multi‐National Organizations
Authors: Brownell Peter
Published: February 2009

The results are reported of a replication and extension of the study by Brownell [1985], which focused on the effects of environmental complexity and dynamism on the use of accounting‐based controls in the U.S. parent company of a large multi‐national organization. The study reported here examines the Australian subsidiary of the company, and its results confirm previous findings, indicating that both job satisfaction and performance are enhanced in circumstances where heavy reliance on accounting‐based controls is confined to situations of low environmental complexity. The results also indicate that non‐accounting, “behavior” controls have a role in the foreign subsidiary but take on a form other than the placement of U.S. nationals in senior management positions in the subsidiary. Differences in the environment faced by the parent and subsidiary also produced predicted differences in reliance on accounting measures in performance evaluation.
Pricing and Indirect Cost Allocation — A Note
Authors: Schneider Arnold
Published: February 2009

Companies that use cost‐based pricing usually allocate indirect costs to their products. An inherent problem with this is that, while product prices are a function of the total cost, indirect cost allocation methods based on revenues depend on the product prices. This paper shows how to simultaneously determine unique product prices (with unequal markup rates) and cost allocations using the relative revenue method.
Student Performance in First Year Tertiary Accounting Courses and Its Relationship to Secondary Accounting Education
Authors: Farley A.A. , Ramsay A.L.
Published: February 2009

Prior research into this issue in the U.S. and U.K. has utilized a variety of research designs and methods of testing and has produced conflicting empirical results.

This Australian study develops a model of student performance which incorporates variables for academic ability, previous accounting knowledge, and mathematics background. The model allows for interactions between some of these variables. Results are tested using a multiple regression form of extended ANCOVA.

The findings indicate that the hypothesis that performance in first year accounting is independent of secondary accounting education can be rejected at high levels of significance for all four years studied, both for student marks and rankings and also for aggregate marks as well as course components. The results are contrasted with previous research and the potential implications of these findings are discussed.
Developing an Accounting Information Systems Course in Australian Tertiary Institutions
Authors: Wan Victor , Choo Freddie
Published: February 2009

The objectives of this exploratory study are: (1) to ascertain the views of Accounting Information Systems (AIS) practitioners and academics from tertiary institutions in Australia as to which topics should be included in an AIS course, and (2) to attempt to identify a common core of topics as the basis for the design of an AIS course. The study was based on an expert opinion survey covering all tertiary institutions and all the “Big Eight” chartered accounting firms in Australia. The results of our survey provide a useful basis for drawing up the contents of an AIS course, and a benchmark against which the appropriateness of the topics in an existing AIS course may be verified.
An Empirical Test of the Arbitrage Pricing Theory on Australian Stock Returns 1974‐85
Authors: Faff Robert W.
Published: February 2009

This paper examines empirically, issues concerning the Arbitrage Pricing Theory (APT). Firstly, in the spirit of Chamberlain and Rothschild [1983], the existence of an approximate factor structure is explored. Secondly, following Beggs [1986] and employing a principal components approach, a test of arbitrage pricing and the importance of the error of approximation, is conducted. Finally, using a non nested framework, the APT and CAPM are tested against each other. The results show mixed support for the APT having up to 3 priced factors.
A Note on The Cost of Capital and Investment Evaluation For Companies Under the Imputation Tax
Authors: Officer R.R.
Published: February 2009

The 25 May, 1988, Statement of the Federal Treasurer indicated that superannuation funds are to be taxed at 15% from 1 July, 1988. Also, it has become increasingly clear that the cost of tax arbitrage is not so great that it is going to inhibit or prevent those receiving franked dividends, such as offshore investors, from selling the tax credits associated with such dividends. The net result is that franked dividends have the potential for benefitting all investors irrespective of their tax status. The outcome could substantially reduce company tax for Australian companies which in turn can be expected to have an effect on their before‐tax cost of capital and on the after‐tax cash flows but not on their before‐tax cash flows or their after‐tax cost of capital. This effect will increase the value of companies paying franked dividends.
Integrating Computers into Accounting Education: A Survey of Australian Universities and Colleges
Authors: Kent P.F. , Linnegar G.H.
Published: February 2009

Conflicts of ideas occur in the literature regarding the necessity and best approach in integrating computers into accounting courses in institutions of higher learning. This paper presents a report of a survey of the use of computer assisted learning in accounting curriculum in Australian universities and colleges, academics commitment to computer assisted learning and obstacles to further applications of computer assisted learning in accounting courses. The survey found that computer assisted learning has occurred mostly at an introductory level in the areas of worksheets and special purpose journals. Academics want to increase computer assisted learning in their accounting courses but are hindered by lack of financial resources, staff time, staff expertise and educationally suitable software.
COMPANY PARTICIPATION IN THE AUSTRALIAN ACCOUNTING STANDARDS SETTING PROCESS
Authors: Gavens John J. , Carnegie Garry D. , Gibson Robert W.
Published: February 2009

Public accessibility to the records of standard setting organisations has encouraged research into the processes involved and the final outcomes. There is also a need to examine the standard setting process by enquiries directed towards the activities of external groups with an interest in the processes. This paper details the results of enquiries into the activities of listed Australian companies towards standard setting and provides an explanation of why some firms participate in the standard setting process and others do not.
THE EFFECTS OF FORMAT ON THE EXTRACTION OF INFORMATION FROM ACCOUNTING STATEMENTS
Authors: Iselin Errol R.
Published: February 2009

The major objective of this research was to study the effects of three dimensions of accounting statement format on the ability of users to extract information from these statements. The three dimensions of format studied were: (1) account v report P & L statement format, (2) account v report Balance Sheet format, and (3) construction signalling. A fourth independent variable studied was learning trials. Results show that (1) the report P & L statement format produces higher extraction performance than the account format, (2) higher construction signalling results in higher extraction performance, and (3) as learning trials increase, extraction performance also increases, but at a decreasing rate. Balance Sheet format does not result in a significant main effect. However, when learning is low, and the P & L format is report, the report Balance Sheet results in higher extraction performance than the account Balance Sheet.
THE EFFECT OF THE DISTRIBUTION OF CASES ON JUDGMENTAL CONSENSUS
Authors: Trotman Ken T.
Published: February 2009

This paper examines the effect of the distribution of cases on the level of consensus of auditor judgments by the use of a simulation study. The results show that the level of consensus is higher on extreme cases and that overall levels of consensus are affected by the distribution of cases included in a study. Some additional insights into previous research are made and some suggestions for the design of future studies are outlined.
A NOTE ON THE ACADEMIC PERFORMANCE OF DEEP‐ELABORATIVE VERSUS SHALLOW‐REITERATIVE INFORMATION PROCESSING STUDENTS
Authors: Tan Kim , Choo Freddie
Published: February 2009

This paper examines the impact of deep‐elaborative versus shallow‐reiterative information processing on students' academic performance. The results show that deep‐elaborative students out‐performed their shallow‐reiterative counterparts in management accounting and accounting information systems courses.
THE IMPACT OF THE DISCLOSURE OF EXTRAORDINARY ACCOUNTING ITEMS ON RETURNS TO EQUITY
Authors: Easton Stephen
Published: February 2009

This paper investigates empirically the impact on returns to equity of the disclosure of unexpected extraordinary accounting items, where unexpected extraordinary items are proxied by actual extraordinary items.

The paper addresses some of the methodological limitations evident in previous studies. These limitations include the failure to identify the earliest information source, and the failure to identify the announcement month. The analysis in this study uses half‐yearly reports instead of annual reports as used in previous studies, and identifies the month in which the interim results (and therefore the extraordinary items) are announced. Controls are provided for the contemporaneous announcement of operating profit and dividends, while interim reports with contemporaneously announced rights issues, bonus issues, share splits, or takeover offers, are excluded. However, one limitation which remains is the use of monthly returns. The use of daily data would provide a more sensitive test.

Using cross‐sectional regression analysis, no evidence was found of an association between announcements of unexpected extraordinary items and abnormal returns to equity.
AN APPLIED IRR MODEL FOR A LEVERED PROJECT IN THE PRESENCE OF INFLATION
Authors: Sener Tulin
Published: February 2009

An inflation‐adjusted IRR model for the appraisal of levered projects is developed within the supply side studies framework by using the tax approach. An empirical test of the model on industrial projects has indicated that the general pattern of the project rankings was not significantly affected in the presence of inflation. However, the shifts in the ranks of the individual projects and over‐and‐under biases in the traditional accept decisions are observed. Further, all the projects have shown a magnified impact of financial leverage on the IRRs.
INDEX FUTURES OPTIONS IN AUSTRALIA ‐AN EMPIRICAL FOCUS ON VOLATILITY
Authors: Brace Alan , Hodgson Allan
Published: February 2009

The futures option contract on the Australian All Ordinaries Share Price Index is a relatively new hybrid security that ought to enhance the richness and potential efficiency of security markets. This paper considers the problems of valuing it using the theoretical price of a futures‐style option. It was found that there was little consistency between theoretical prices using a number of historical estimates and observed market prices, either intertemporally or between in‐the‐money or out‐of‐the‐money calls. Further, implied volatility was found to be a decaying function of time and, except at times of instability, did not predict the ex ante futures volatility as well as historic volatility.
THE VOLUNTARY PRESENTATION OF VALUE ADDED STATEMENTS IN AUSTRALIA: A POLITICAL COST PERSPECTIVE
Authors: Deegan Craig , Hallam Anthony
Published: February 2009

This paper explores corporate management's incentive to voluntarily disclose Value Added Statements in their yearly financial reports. Adopting a political cost perspective, hypotheses relating Value Added Statement disclosure to labour intensity, corporate tax payments, rate of return, size and industry volatility are developed. Using a sample of Australian publicly listed companies, the results of our empirical testing support the hypotheses that the decision to voluntarily disclose Value Added Statements is related to a company's size (in terms of both market concentration and profitability), a proportional measure of tax payments and the industry to which it belongs. Labour intensity and rate of return were found to be unrelated to the voluntarily disclosure of Value Added Statements.
DIRECT LABOUR COST ALLOCATION FOR A MULTI‐PRODUCT HOSPITAL LAUNDRY
Authors: Everett James E. , McLeod Paul B.
Published: February 2009

This paper discusses the application of correlation and regression methods to the analysis of productivity and allocation of costs in a laundry serving several hospitals, with several types of laundry being processed in the same production line. In particular, it is shown how the methods can be used to allocate the direct labour costs between the types of laundry. Analysis of residuals also permits investigation of temporal and product mix effects upon productivity. The regression paradox is discussed in relation to this problem, and it is shown that productivity is not a uniquely defined concept, because there is a difference between production being predicted from labour input and labour input being predicted from required production. Potential application of the model to other multi‐product processes is discussed.
THE DETERMINANTS OF BROKERAGE FEES IN A COMPETITIVE ENVIRONMENT
Authors: Aitken Michael J.
Published: February 2009

A Trade Practices Commission ruling, which came into effect on 1 April 1984, prohibited the Australian Associated Stock Exchanges (now known as the Australian Stock Exchange) from fixing brokerage fees. The expected consequence was a move to competitive pricing. Specifically, it was expected that brokerage fees would more accurately reflect the costs of providing brokerage services. This study analyses the evolution of the pricing mechanism since deregulation. In particular, it tests the influence of factors such as order size, broker quality, broker size, inventory costs, search costs, broker specialisation and broker learning on brokerage fees.
THE EFFECTS OF MANAGERIAL ROLES ON THE RELATION BETWEEN BUDGETARY PARTICIPATION AND JOB SATISFACTION
Authors: Leung Mitzi , Dunk Alan S.
Published: February 2009

This study examines the extent to which managerial roles moderate the relation between budgetary participation and job satisfaction. Managerial roles, defined in terms of line versus staff, may serve as a situational variable that assists in explaining the equivocal results found in studies for the association between budgetary participation and job satisfaction. The findings of this study suggest that the link between budgetary participation and job satisfaction is dependent on the role a manager undertakes in an organization. The relation between budgetary participation and job satisfaction was found to be significantly more effective for line managers than for staff managers.
VOLUNTARY DISCLOSURE OF FINANCIAL SEGMENT DATA: NEW ZEALAND EVIDENCE
Authors: Bradbury Michael E.
Published: February 2009

This paper reports on the voluntary financial disclosure of segment data by New Zealand companies and relates the extent of quantified segment disclosure to firm‐specific characteristics. The extent of voluntary segment disclosure varies across a sample of 29 firms listed on the New Zealand Stock Exchange. The extent of quantified segment disclosure is significantly related to firm size, financial leverage, but not to assets in place, earnings volatility or a the importance of foreign funding to the firm.
DIVIDEND POLICY AND CAPITAL STRUCTURE UNDER THE IMPUTATION TAX SYSTEM: SOME CLARIFYING COMMENTS
Authors: Howard Peter F. , Brown Robert L.
Published: February 2009

This paper analyses the effects of the imputation and capital gains taxes on the dividend and financing decisions of Australian companies. We develop a framework, consistent with Miller's [1977] approach, in which interactions between dividend and financing decisions can be explored. The significance of these interactions depends on both corporate dividend policy and on the relationship between personal and corporate income tax rates. We conclude that under imputation, dividend decisions are more important relative to capital structure decisions, than under the classical tax system.
THE ROLE OF COMPONENTIAL AND INTEGRATIVE KNOWLEDGE IN ACCOUNTING EDUCATION
Authors: Rodgers Waymond , Housel Thomas J.
Published: February 2009

This study examines the role of componential knowledge, i.e., generally accepted accounting principles, and integrative knowledge, i.e., performing LIFO and FIFO inventory analysis, in solving complex accounting problems. This study predicts a dynamic, interactive process among componentiai knowledge, integrative knowledge and problem solution. Accounting students were given training in inventory methods, and then they were given inventory problems. The results support the prediction that there is a dynamic, interactive process between componential knowledge, integrative knowledge, and problem solving. The results provide several useful new directions for accounting pedagogy research and practice.
PRINCIPAL AND AGENCY TRADES BY STOCKBROKERS ARE COMPLEMENTARY: THE WELFARE EFFECTS OF DEREGULATING AGENCY TRADING AND BANNING PRINCIPAL TRADES
Authors: Aitken Michael J. , Swan Peter L.
Published: February 2009

This paper models the demand for stockbrokers' services in Australia, consisting of two related services, agency trades and principal trades. The relationship between agency and principal trades is estimated. The results indicate that the two services are complements rather than substitutes. Using unique accounting information, a model of agency and principal trading activities is estimated to determine the welfare effects of (i) deregulating brokerage commissions and (ii) a ban on principal trading by brokers. The results show a sizeable welfare gain to investors (amounting to about 60% of the gross revenue of brokers) stemming from deregulation of the minimum charge for agency trades. The loss in profitability by brokers due to deregulation is also computed and shown to be negligible. The results also show that due to complementarity, a ban on principal trading, even with deregulation of agency trading, can impose an arbitrarily high cost on investors which could, in principle, offset the gains from agency deregulation.
RESPONSE OF STOCK PRICES TO MONEY SUPPLY ANNOUNCEMENTS: AUSTRALIAN EVIDENCE
Authors: Singh Ranjit Ajit
Published: February 2009

This paper extends the literature on the money supply announcement effect by examining the response of stock prices to the monthly announcements of the money supply made in Australia. The unexpected component of the money supply change is identified using both a market based survey of expectations and rolling ARIMA time series models. The analysis is further extended to examine the impact of the money supply announcements during the period of monetary target‐ting; the cross‐sectional impact of the announcements across various stock price indices and the pre‐ and post‐announcement responses of stock prices. The results documented show no evidence of a significant stock price response to the money supply announcements in Australia.
THE ACCURACY OF CAPM PROXIES FOR ESTIMATING A FIRM'S COST OF EQUITY
Authors: Lally Martin
Published: February 2009

In estimating a firm's cost of equity with the CAPM the standard procedure is to proxy the market portfolio by a share index. Since this index is not the market portfolio this may give rise to a bias in estimating the firm's cost of equity. This paper investigates this bias and concludes that it will arise if the factor coefficients are not proportional to those of the index. Even moderate departures from this proportionality condition may produce significant bias.
VOLUNTARY DISCLOSURE OF SEGMENT INFORMATION: FURTHER AUSTRALIAN EVIDENCE
Authors: Mitchell Jason D. , Chia Chris W. L. , Loh Andrew S.
Published: February 2009

This study provides further empirical evidence on incentives for Australian firms to voluntarily report segment information. Various economic reasons why firms may elect to present segment information have been hypothesised in previous research. Bradbury [1992] and McKinnon and Dalimunthe [1993] found firm size, minority interest and industry membership as significant identifiable characteristics motivating voluntary segmental disclosure. Variables found to be insignificant in Bradbury [1992] which were not examined by McKinnon and Dalimunthe [1993] are tested in this paper. Hypotheses relating to size, financial leverage, assets‐in‐place, earnings volatility, ownership diffusion, outside equity (minority) interest, overseas association as well as diverse and mining and oil classification hypotheses are empirically examined. Univariate tests and multivariate logit analysis suggest that for a extensive sample of diversified firms, voluntary segment disclosure is significantly related to size, leverage and involvement in mining or oil activities.