bluuebunny/crossref_metadata_2025 huggingface dataset:
Why Do Firms Adopt Profit‐Sharing and Employee Ownership Plans?
Authors: Kruse Douglas L.
Published: January 2009

Profit‐sharing and employee ownership in companies have attracted considerable interest, yet there has been little research on factors predicting the adoption and maintenance of these plans. This study uses new data from a survey of 500 US public companies, and panel data on corporate financial variables, to examine factors predicting the presence and adoption of profit‐ sharing and employee stock ownership plans (ESOPs) in the 1975–91 period. Several findings support productivity‐related motivations for such plans (including higher R&D levels among old profit‐sharing firms, and recent adoption of job enrichment programmes among new profit‐sharing firms), while others support flexibility‐related motivations (including higher variance in profits prior to the adoption of profit‐sharing plans and ESOPs). Unionized firms were less likely to have either type of plan in 1975, but equally likely to adopt them subsequently (often in concessionary contracts). Comparisons of cross‐sectional and panel results illustrate advantages of panel data in disentangling the causes and effects of profit‐sharing and ESOPs.
Coercion and the Trade Unions: a Reconsideration of Hayek
Authors: Richardson Ray
Published: January 2009

Friedrich Hayek was an influential critic of trade unions, especially critical of their presumed ability to act ‘coercively’. Without coercive power unions could be benign; with coercive power they were seen to be a force for profound loss and danger. The paper examines Hayek's understanding of the general concept of coercion, and discusses how he applied it to the analysis of trade unions. It also looks at his more speculative treatment of trade unions in a ‘non‐coercive’ world to see what that suggests about his analysis of trade unions. I conclude that Hayek's notion of coercion was unsatisfactory, that he was seriously inconsistent in his use of the term, and that he was hopelessly confused in his analysis of unions.
Union Effects on Earnings Dispersion in Australia, 1986–1994
Authors: Borland Jeff
Published: January 2009

In Australia a large decline in union density has occurred since the mid‐1970s. This paper examines the effect of the decline in union density on the dispersion of earnings in Australia between 1986 and 1994. Changes in union density are found to have increased earnings dispersion for male employees over this period, but do not appear to have had a strong effect on earnings dispersion for female employees. The main cause of changes in earnings dispersion for both male and female employees has been an increase in the dispersion of earnings of non‐union employees.
Industrial Relations in Hotels and Catering: Neglect and Paradox?
Authors: Lucas Rosemary
Published: January 2009

Given that hotels and catering comprise an important part of the service sector representing the changing face of the economy, their neglect in industrial relations discourse about the ‘new’ industrial relations is no longer sustainable. Previously unpublished data from the Workplace Industrial Relations Survey 1990 (WIRS3) have provided the first opportunity for systematic analysis and evaluation of employment relationship issues in the industry and finds them to be different from those observed elsewhere in the economy. Consequently, hotels and catering can be said to manifest a predominance of ‘unbridled individualism’ associated with ‘poor’ industrial relations outcomes which, paradoxically, exist alongside an above average presence of personnel specialists.
Apprenticeship Training and Day Release in UK Engineering: Some Cross‐sectional Evidence
Authors: Knight K. G. , Latreille Paul L.
Published: January 2009

Cross‐sectional evidence is presented on the determinants of the number of apprentices and employees on day release in a sample of UK engineering firms. Firm size, unionization, skill levels and turnover appear crucial for both measures of training.
Religious Market Competition in a Richer World
Authors: McBRIDE MICHAEL
Published: January 2009

Economic growth has not led to a decline in religion despite past predictions that it would. Using a formal model of religious competition, I show how economic growth produces counteracting effects on religious activity in an open religious market, and that it has little effect in a religious market that is already secularized due to regulations that prohibit religious competition or in a highly religious market with regulations that inhibit secular activities. Theories predicting the decline of religion due to rising opportunity costs of religious demand and supply ignore countervailing influences.
Does Job Search Monitoring Intensity Affect Unemployment? Evidence from Northern Ireland
Authors: McVICAR DUNCAN
Published: January 2009

Because unemployment benefit reforms typically package together a number of changes, few existing evaluations have been able to isolate the effects of changes in job search monitoring intensity on benefit recipient stocks or flows. Those few studies that do so draw mixed conclusions. This paper provides new estimates of monitoring impacts by exploiting plausibly exogenous periods where search monitoring has been temporarily withdrawn – with the regime otherwise unchanged – during a series of benefit office refurbishments in Northern Ireland. As we would expect from search theory, withdrawal of monitoring significantly increases the stock of unemployment benefit recipients via reduced outflows.
Searching for injustice and finding solidarity? A contribution to the mobilisation theory debate
Authors: Atzeni Maurizio
Published: January 2009

This article, using empirical data from cases of mobilisation in 1996 in Argentina, offers new evidence to build on the theory of mobilisation as recently proposed by John Kelly. The use of injustice as the basis of mobilisation raises some doubts for both its intrinsic subjective nature and in the light of cases of spontaneous mobilisations. A reformulation of the theory is suggested, less attached to a mechanical sequence and more rooted in the contradictions of the capitalist labour process.
Women's collectivism in context: women's groups in UK trade unions
Authors: Parker Jane
Published: January 2009

This research examines the relationship between the establishment and development of women's groups (WGs) in UK unions, and their wider union and environmental settings. Its timeliness is underscored by unions' ongoing search for sturdy bases for revival and greater representation of their various constituent groups, including via special representative mechanisms such as WGs. Qualitative and quantitative analyses of survey and interview data highlighted links between similar union and wider environmental conditions and WG establishment and development, as well as more complex relationships.
A Novel Point Variant in NTRK3, R645C, Suggests a Role of this Gene in the Pathogenesis of Hirschsprung Disease
Authors: Fernández R. M. , Sánchez‐Mejías A. , Mena M. D. , Ruiz‐Ferrer M. , López‐Alonso M. , Antiñolo G. , Borrego S.
Published: January 2009

Hirschsprung disease (HSCR) is a developmental disorder characterized by the absence of ganglion cells in the myenteric and submucosal plexuses due to a defect in the migration process of neural crest neuroblasts. Manifestation of the disease has been linked to the dysfunction of two principal signalling pathways involved in the enteric nervous system (ENS) formation: the RET‐GDNF and the EDN3‐EDNRB receptor systems. However, the NTF3/NTRK3 signalling pathway plays an essential role in the development of the ENS suggesting a potential role for those genes in the pathogenesis of HSCR. We have sought to evaluate the candidature of the NTRK3 gene, which encodes the TrkC receptor, as a susceptibility gene for Hirschsprung disease. Using dHPLC technology we have screened the NTRK3 coding region in 143 Spanish HSCR patients. A total of four previously described polymorphisms and 12 novel sequence variants were detected. Of note, the novel R645C mutation was detected in 2 affected siblings of a HSCR family also carrying a RET splicing mutation. Using bioinformatics tools we observed that the presence of an additional cysteine residue might implicate structural alterations in the mutated protein. We propose haploinsufficiency as the most probable mechanism for the NTRK3 R645C mutation. NTRK3 and RET mutations in this family only appear together in the HSCR patients, suggesting that they per se are necessary but not sufficient to produce the phenotype. In addition, it is quite probable that the contribution of other still unidentified modifier genes, may be responsible for the different phenotypes (length of aganglionosis) in the two affected members.
A stereological perspective on placental morphology in normal and complicated pregnancies
Authors: Mayhew Terry M.
Published: January 2009

Stereology applied to randomly‐generated thin sections allows minimally‐biased and economical quantitation of the 3D structure of the placenta from molecular to whole‐organ levels. With these sampling and estimation tools, it is possible to derive global quantities (tissue volumes, interface surface areas, tubule lengths and particle numbers), average values (e.g. mean cell size or membrane thickness), spatial relationships (e.g. between compartments and immunoprobes) and functional potential (e.g. diffusive conductance). This review indicates ways in which stereology has been used to interpret the morphology of human and murine placentas including the processes of villous growth, trophoblast differentiation, vascular morphogenesis and diffusive transport. In human placenta, global quantities have shown that villous maturation involves differential growth of fetal capillaries and increases in endothelial cell number. Villous trophoblast is a continuously renewing epithelium and, through much of gestation, exhibits a steady state between increasing numbers of nuclei in cytotrophoblast (CT) and syncytiotrophoblast (ST). The epithelium gradually becomes thinner because its surface expands at a faster rate than its volume. These changes help to ensure that placental diffusing capacity matches the growth in fetal mass. Comparable events occur in the murine placenta. Some of these processes are perturbed in complicated pregnancies: 1) fetoplacental vascular growth is compromised in pregnancies accompanied by maternal asthma, 2) changes in trophoblast turnover occur in pre‐eclampsia and intrauterine growth restriction, and 3) uteroplacental vascular development is impoverished, but diffusive transport increases, in pregnant mice exposed to particulate urban air pollution. Finally, quantitative immunoelectron microscopy now permits more rigorous analysis of the spatial distributions of interesting molecules between subcellular compartments or shifts in distributions following experimental manipulation.
Relationships between plasma adrenomedullin concentration and systolic time intervals during static handgrip in patients with heart failure
Authors: Krzemiński K. , Cybulski G. , Nazar K.
Published: January 2009

Our previous study showed elevation of plasma adrenomedullin (ADM) during static handgrip in patients with heart failure (HF). It is hypothesized that ADM increases with left ventricle dysfunction during handgrip and thus plays a compensatory role. In the present study pre‐ejection period (PEP) and left ventricular ejection time (LVET) were used to assess cardiac performance in 24 male HF patients (II/III class NYHA) during two 3‐min bouts of handgrip at 30% of maximal voluntary contraction (MVC) performed alternately with each hand without any break between the bouts. Plasma ADM, noradrenaline (NA), adrenaline (A), heart rate (HR), blood pressure (BP) and stroke volume (SV) were determined. During handgrip plasma ADM, NA, A, HR, BP, PEP/LVET increased, PEP was prolonged and LVET shortened. The increases in plasma ADM correlated with changes in: PEP (r = −0·881), LVET (r = 0·713), PEP/LVET (r = −0·769), SV (r = 0·836), diastolic BP (r = 0·700), total peripheral resistance (TPR) (r = 0·718) and noradrenaline (r = 0·756). The study demonstrated that in HF patients changes in plasma ADM during handgrip are related to cardiac performance.
Acute care teaching in the undergraduate nursing curriculum
Authors: McGaughey Jennifer
Published: January 2009

Aim:  To incorporate basic aspects of acute care into the undergraduate nursing programme by providing an opportunity for the development of knowledge and skills in the early recognition and assessment of deteriorating patients on general hospital wards.

Background:  Acute care initiatives implemented in the hospital setting to improve the identification and management of ‘at risk’ patients have focused on the provision of education for trained or qualified staff. However, to ensure student nurses are ‘fit to practice’ at the point of registration, it has been recommended that acute care theory and skills are incorporated into the undergraduate nursing curriculum.

Practice development initiative:  An ‘Integrated Nursing Care’ module was incorporated into year 3 of the undergraduate nursing programme to introduce students to acute care theory and practice. Module content focuses on the early detection and management of acute deterioration in patients with respiratory, cardiac, neurological or renal insufficiencies. We used a competency‐based framework to ensure the application of theory to practice through the use of group seminars. High‐fidelity patient‐simulated clinical scenarios were a key feature. The United Kingdom Resuscitation Council Intermediate Life Support course is also an important component of the module.

Conclusions:  Incorporating the Integrated Nursing Care module into the undergraduate nursing curriculum provides pre‐registration students the opportunity to develop their knowledge and skills in acute care.

Relevance to clinical practice:  The provision of undergraduate education in care of the acutely ill patient in hospital is essential to improve nurses’ competence and confidence in assessing and managing deteriorating patients in general wards at the point of registration.
Discussion as a Factor in Racial Disparity in Advance Directive Completion at Nursing Home Admission
Authors: Rich Shayna E. , Gruber‐Baldini Ann L. , Quinn Charlene C. , Zimmerman Sheryl I.
Published: January 2009

Studies have consistently shown racial disparities in advance directive completion for nursing home residents but have not examined whether this disparity is due to differences in interactions with healthcare providers. This study had two aims: to determine whether the racial disparity in advance directive completion by nursing home residents is related to differences in discussion of treatment restrictions with healthcare providers and to examine whether there is a racial disparity in perceptions of residents' significant others that additional discussions would be helpful. Participants were 2,171 white or black (16% of sample) residents newly admitted to 59 nursing homes. Data were collected from structured interviews with residents' significant others and review of nursing home charts. Questions included whether advance directives were completed, whether treatment restrictions were discussed with the resident or family, and whether more discussion would have been helpful. Frequencies according to race were determined for each question; P‐values and logistic regression models were obtained. Black residents were less likely to have completed any advance directives (P<.001), and they (P<.001) and their family members (P<.001) were less likely than whites to have discussed treatment restrictions with healthcare providers. Logistic regression models indicated that disparity in treatment restrictions narrowed when these discussions occurred. Significant others of black residents were more likely than those of white residents to consider further discussion helpful (P<.001), especially with physicians. Racial disparity in treatment restrictions may be due in part to a difference in discussion with healthcare providers; increasing discussion may narrow this disparity.
Depression in suicidal males: genetic risk variants in the CRHR1 gene
Authors: Wasserman D. , Wasserman J. , Rozanov V. , Sokolowski M.
Published: January 2009

Dysregulation in the stress response of the hypothalamic–pituitary–adrenal axis, involving the corticotrophin‐releasing hormone and its main receptor (CRHR1), is considered to play a major role in depression and suicidal behavior. To comprehensively map the genetic variation in CRHR1 in relation to suicidality and depression, as a follow‐up to our initial report on SNP rs4792887, we analyzed six new single nucleotide polymorphisms (SNPs), in an extended sample of family trios (n = 672) with suicide attempter offspring, by using family‐based association tests. The minor T‐allele of exonic SNP rs12936511, not previously studied in the context of psychiatric disorders and suicidal behaviors, was significantly transmitted to suicidal males with increased Beck Depression Inventory (BDI) scores (n = 347; P = 0.0028). We found additional evidence of association and linkage with increased BDI scores among suicidal males with an additional SNP, located proximally to the index SNP rs4792887, as well as with two distal SNPs, which were correlated with index SNP rs4792887. Analysis of haplotypes showed that each of the risk alleles segregated onto three separate haplotypes, whereas a fourth ‘nonrisk’ haplotype (‘CGC’) contained none of the risk alleles and was preferentially transmitted to suicidal males with lowered BDI scores (P = 0.0007). The BDI scores among all suicidal males, who carried a homozygous combination of any of the three risk haplotypes (non‐CGC/non‐CGC; n = 160), were significantly increased (P = 0.000089) compared with suicidal male CGC carriers (n = 181). Thus, while the characteristics of the suicide female attempters remained undetermined, the male suicidal offspring had increased depression intensity related to main genetic effects by exonic SNP rs12936511 and homozygous non‐CGC haplotypes.
Pain score documentation and analgesia: A comparison of children and adults with appendicitis
Authors: Furyk Jeremy , Sumner Michelle
Published: January 2009

Objective:  There is a growing body of evidence suggesting that administration of analgesia in paediatric ED is inadequate. The present study was designed to assess pain score documentation and provision of opioid analgesia to children and adults with confirmed appendicitis in a mixed Australian ED.

Method:  A retrospective chart review of all adults and children with histologically confirmed appendicitis diagnosed in the Townsville ED during 2006 was performed. Data collected included pain score documentation, weight, opioid dose, oral analgesia, time of presentation, level of doctor and prehospital analgesia.

Results:  Data were collected for 106 adults and 39 children. Among them, 13 (33%) children compared with 79 (75%) adults had a pain score documented (OR 0.16, 95% CI 0.07–0.37, P < 0.001). And 11 (28%) children compared with 79 (75%) adults received i.v. morphine (OR 0.13, 95% CI 0.06–0.31, P < 0.001). Administration of oral analgesia lowered the likelihood and pain score documentation increased the likelihood of receiving morphine in both children and adults.

Conclusion:  Documentation of pain scores and provision of i.v. morphine is generally poor. Children are less likely than adults to have a pain score documented, or receive i.v. morphine when presenting with appendicitis.
Improving documentation of endotracheal intubation in an adult emergency department
Authors: Winton James , Celenza Antonio , Jackson Trevor
Published: January 2009

Objective: To evaluate the effect of an educational intervention and documentary pro forma on the adequacy of documentation of intubation in an adult ED.

Methods: A structured medical record review was performed before and after a multi‐pronged educational programme and introduction of a specifically designed guide to documentation. Records were assessed for adequacy of documentation by the presence or absence of predetermined elements. Analysis focused on five aspects considered to be most important for future clinical care: drugs and doses used, grade of view, size of endotracheal tube, confirmation of placement and adverse events/difficulties encountered.

Results: Sixty‐one and sixty‐eight charts were included in the pre‐intervention and post‐intervention groups, respectively. The drugs and doses used were documented in 92% and 93%. The endotracheal tube size was recorded 82% and 91% of the time. Grade of laryngoscopy was documented in 35% and 46%. Confirmation of endotracheal tube placement was 69% and 84%. Presence or absence of adverse events was recorded in 37% and 54%. All five elements were present in 8.2% and 25% of medical records.

Conclusion: Documentation improved slightly following the intervention, but was still unsatisfactory. We believe that to achieve an adequate level of documentation in the medical record for an episode of intubation, there needs to be a formal and structured mechanism, either via mandatory use of a specifically designed form and/or by participation in an organized data registry.
External injury documentation in major trauma victims is inadequate: Grounds for routine photography in the emergency department?
Authors: May Austin N , Fulde Gordian WO , Duflou Johan , Mengersen Kerrie L , Read‐Allsopp Christine
Published: January 2009

Objective:  There is no widely accepted measure of clinical documentation quality in the ED. The present study creates a measure for comparing the quality of clinical documentation of external injuries with autopsy reports. This is used to discuss the advantages and disadvantages of introducing routine photography to improve clinical documentation of injuries.

Methods:  This retrospective case series addressed all non‐surviving major trauma patients (Injury Severity Score ≥15) presenting to St. Vincent's Hospital ED, Sydney, within the 5 year period from 1 July 2002 to 30 June 2007. Comparison between clinical and autopsy documentation of external injuries was completed for each major trauma patient.

Results:  Of the 48 major trauma patients, there were an average of 11.6 injuries missed in documentation per patient (P < 0.001, 95% CI 8.6–14.6). ED documentation recorded on average 29% (95% CI 26%−32%) of the external injuries that appeared in the autopsy report. We call this percentage the external injury documentation rate. The external injury documentation rate was influenced by injury count and body region, but was not influenced by age, sex, severity (using the Abbreviated Injury Scale and Injury Severity Score), or whether the clinician used a trauma survey or standard progress notes or not, and there was no visible trend over time.

Conclusion:  Clinical documentation of external injuries in major trauma is poor. This is presumably because of many factors, including time pressures and high‐stress environments. A possible strategy to improve this documentation is routine photography, which should offer both clinical and legal benefits.
Gamma‐hydroxybutyrate: A 30 month emergency department review
Authors: Munir Venita L , Hutton Jennie E , Harney Jason P , Buykx Penny , Weiland Tracey J , Dent Andrew W
Published: January 2009

Objectives:  To describe epidemiology, symptomatology, resource use and complications in patients attending the ED following gamma‐hydroxybutyrate (GHB) ingestion.

Methods:  Retrospective chart review of GHB‐related emergency attendances over 30 months.

Results:  One hundred and seventy emergency attendances attributed to GHB ingestion occurred. Monthly attendance rate doubled during the study, and was highest on public holidays and weekends between 04.00 and 08.00 hours. The majority (63%, 95% CI 55.7–70.3) were young men (median 22 years). GHB was ingested alone in 62 cases (36%, 95% CI 29.6–43.9). Poly‐substance ingestion was common (108 cases; 64%; 95% CI 56.1–70.4). The commonest presenting symptom was altered conscious state (89%, 95% CI 84.1–93.5) with 54% (95% CI 46.6–61.6) having low Glasgow Coma Score (GCS 3–8) on arrival at the ED. Eight per cent (95% CI 3.6–11.6) were intubated. Eighty‐seven per cent (95% CI 79.8–93.8) with low GCS were not intubated. There were no serious adverse outcomes or fatalities. Recovery time from ED arrival to high GCS (9–15) was rapid (median 76 min, interquartile range 80). Overall median length of stay was 199 min (interquartile range 162).

Conclusions:  This is the largest GHB‐related case series to date. Attendance rate doubled during the study, and peaked at times of lowest staffing. Poly‐substance ingestion is common. Attendances are of high acuity with decreased conscious state and airway threat. With close conservative management, most recover quickly without adverse sequelae.
Australian Audit Reports: 1980‐89
Authors: Aitken Michael , Simnett Roger
Published: January 2009

This paper provides information on auditors' opinions in Australia in the period 1980‐1989. Issues which are reviewed include the frequency with which different opinions are issued, the types of opinions which are issued by the different audit firms and the circumstances on which the financial statements have drawn qualification. Between 15% and 20% of the financial statements were found to draw qualification, with very few of these qualifications being in the more serious forms of the adverse opinion or the disclaimer. Most qualifications related to disagreements on balance‐sheet values or technical breaches of accounting standards. Divergences were found between the frequency and types of qualifications issued by the different audit firms.
The Alignment Of Management Accounting With Manufacturing Priorities: A Strategic Perspective
Authors: Samson Daniel A. , Langfield‐Smith Kim , McBride Patricia
Published: January 2009

This paper proposes that traditional cost‐based management accounting systems (MAS) are inappropriate for controlling a manufacturing organisation's performance in cases where non‐cost factors are important aspects of the firm's competitive strategy. Manufacturing organisations in Australia are under increasing pressure to increase their competitiveness. This can be achieved by giving the manufacturing function strategic status in the organisation and by designing the MAS to support those strategies directly. The MAS should measure operational performance, control investment and report in terms of the factors which determine the organisation's competitive advantage, whether they be high product quality, manufacturing flexibility, low cost or other influences. The paper provides two applications of the concept of strategy‐driven management systems: capital investment evaluation systems, and operational performance measurement and reporting systems.
Asset Recognition And Probabilistic Judgments
Authors: Houghton Keith A. , Walawski Justin B.
Published: January 2009

With the issuing of Statement of Accounting Concepts 4 on the definition and recognition of elements of financial statements, research into the possible ramifications of the application of recognition criteria in that statement is timely. Using 60 experienced Australian auditors as subjects, this study provides information on the numerical equivalents of uncertainty expressions such as “beyond any reasonable doubt” and “virtually certain” (as per the asset‐recognition criteria of AASB 1020), and “probable” (as per Statement of Accounting Concepts 4). In addition, it compares the decisions made by auditors under the criteria included in AASB 1020 and SAC 4. The results indicate that the regognition criteria in AASB 1020 are a higher test of stringency for the recognition of assets than those adopted in the new SAC 4.
Asset Valuation: Recoverable Amount And Measurement Error
Authors: Trowell John
Published: January 2009

On 5 February this year CSR Limited announced that shareholders'funds “will be reduced by $372 million following an extensive review of the group's non‐current asset values”. This was the difference between an upward revaluation of land and buildings of $186 million and a writedown of $558 million on other non‐current assets, net of tax and minority interests. Although not legally required to do so at the time, CSR became the first major group to report under the revised rules for the revaluation of non‐current assets. The announcement drew attention in the financial press to the requirement that companies “write down (or write up) asset values that had obviously been affected by economic conditions” and the “expanded legal liabilities of directors under the national Corporations Law regime”.‘ This article shows that compliance with the tests currently set out in AASB 1010 and the ASC's Practice Note 21 will result in measurement error and lead directors, in some cases, to make incorrect decisions about the writedown of asset values.
SAC 4: A Source Of Accounting Change
Authors: Howieson Bryan
Published: January 2009

Despite its long gestation, the latest release in the Australian Accounting Research Foundation's conceptual framework, Statement of Accounting Concepts 4 Definition and Recognition of the Elements of Financial Statements (SAC 4), is poorly understood by many accountants. The statement specifies definitions for the elements which form the basis of the information in financial reports and sets out the criteria to be used in deciding when these elements should be recognised (reported) in the reports. Statements of accounting concepts do not attract the same direct legal force as AASB accounting standards. Nevertheless, this statement promises significant reforms to financial reporting. Because of its potential to create far‐reaching changes, it is essential that accounting professionals are familiar with its contents and application. This paper describes the structure of SAC 4, comments upon some of its important components and illustrates its operation and key features in the context of one element, “assets”.
Prospectus Earnings Forecasts: Evidence And Explanations
Authors: Lee Philip , Taylor Stephen , Yee Conrad , Yee Mervyn
Published: January 2009

Recent changes to prospectus regulations have generated considerable controversy. While the legally enforceable definition of “required information” may be uncertain, it seems clear that earnings forecasts are expected to play an important role. However, we find that the accuracy of these forecasts is questionable, as are many of the explanations offered for differences with the actual results. This calls into question the methods used for estimating future earnings and, ultimately, the usefulness of such forecasts. Laws relating to liability for prospectus information make this an issue of some concern for investors, as well as accountants and other professional advisers.
The Status Of Women Academic Accountants in Australia
Authors: Subramaniam Nava , Lambert Cecilia
Published: January 2009

This paper reports the findings of a survey of the attributes, career satisfactions and aspirations of Australian Academic Women Accountants (AAWA). The survey sought information about personal characteristics, institutional role expectations and perceptions of gender‐related issues involving recruitment, promotion and retention of AAWAs. The data provide not only an interesting insight into respondents' perceptions of a career in academic accounting, but also a comparative measure against which future progress of AAWAs can be evaluated. The paper makes suggestions for facilitating the career paths of AAWAs at both institutional and individual levels.
The IASC And Japan
Authors: Sharpe Michael J. , McKinnon Jill L.
Published: January 2009

The support of Japan, as a powerful nation and world leader, will be critical to the International Accounting Standards Committee (IASC) in its aim of promoting the harmonisation of international accounting standards. Japan represents a substantial challenge to the IASC objective; cultural and institutional factors have been regarded as impediments to its preparedness to adopt IASC standards. As deputy chairman of the IASC, the co‐author of this paper, Michael Sharpe, has been involved in a number of seminars and discussions in Japan relating to the IASC activities and aims. This paper draws on those discussions, and on recent events and developments in Japan, to suggest that relations between the IASC and Japan are heading in the right direction and to make some prognoses about the acceptance of IASC standards by Japanese regulatory bodies.
Cost And Management Accounting Practices
Authors: Skinner R.C.
Published: January 2009

In a discussion of some strange results in two surveys of cost accounting practices, it is suggested that the results were probably due to a lack of knowledge on the part of the managers who completed the questionnaires.
The Importance Of Inherent Risk Factors: Auditors‘ Perceptions
Authors: Monroe Gary S. , Ng Juliana K. L. , Woodliff David R.
Published: January 2009

This research project investigated auditors' perceptions of the importance of inherent risk factors in assessing inherent risk for accounts receivable and inventory. Sixty‐eight auditors completed a questionnaire listing 42 inherent risk factors and six control risk factors. The auditors were required to: identify whether each factor was an inherent risk factor; indicate whether the factor affected their assessment of inherent risk at the financial statement or account balance (class of transactions) level; indicate whether the factor was associated with high or low inherent risk; and assess how important the inherent risk factor was in their assessment of inherent risk. In general, the auditors perceived variables pertaining to the characteristics of management and the history of errors to be the major determinants of inherent risk.
Value‐Added Management: A Powerful Tool For Reducing Costs
Authors: Thorne Helen
Published: January 2009

Value‐added management is a powerful tool which can help businesses reduce costs. Evidence from the US and from Europe suggests that in many organisations at least 40% of costs can be eliminated without any deterioration in the value provided to customers. Conventional management accounting systems have not identified this non‐value‐added activity, largely because they have ignored inefficiencies between processes. Using a value‐added management approach, non‐value‐added activities are identified and programs implemented to eliminate them. This paper considers what is meant by value‐added management, why it is necessary and how it can be implemented. The paper includes examples of businesses which have used value‐added management to save costs and improve performance.
The True And Fair View: A Study Of Australian Auditors‘ Application Of the Concept
Authors: Deegan Craig , Kent Pamela , Lin Ching‐Ju
Published: January 2009

A fundamental requirement of Australian corporate reporting is that financial statements be “true and fair”. This paper describes the history of the true and fair requirement in Australia, considers various meanings which have been attributed to the concept and examines the merits of eliminating the qualitative standard of the true and fair view. Special attention is given to auditors' definitions of the term, and how they design their audit testing of truth and fairness, as distinct from compliance with applicable accounting standards and other statutory disclosure requirements.
Implications Of the AWA Decision For External Auditors, Internal Auditors And Management
Authors: Deegan Sue , Pratt Denis , Hicks Barry
Published: January 2009

The decision in AWA Ltd v Daniels has important implications for auditors, directors and other professionals providing accounting services to clients. Previously, where the external auditor had been negligent, Australian courts awarded full damages against the auditor in favour of the plaintiff In AWA, a defence of contributory negligence succeeded and damages were apportioned between the company and the external auditor. Also, the auditor succeeded in a claim for contribution against the chief executive officer. This paper analyses the implications of the AWA decision for internal and external auditors and management. It examines issues related to contributory negligence and contribution. These issues are important in the light of recent discussion about reform of the law concerning “proportional” liability.
Accounting For Financial Instruments: An Overview
Authors: Hancock Phil
Published: January 2009

The explosion in the growth of derivative financial instruments in recent years is a major cause of concern for accounting standard‐setters. This paper considers the reasons for the growth and identifies the accounting problems associated with these instruments. The relevant United States and Australian pronouncements are discussed. Major proposals in ED 59 Financial Instruments are outlined and two critical issues concerning the automatic writedown of financial assets and the treatment of anticipatory hedges are identified. ED 59 contains similar proposals to E 48 issued by the IASC. However, there are some differences between the two documents and these are discussed. The paper also considers possible developments in accounting for financial instruments.
Executive Share Options: An Economic Framework
Authors: Taylor Stephen L.
Published: January 2009

This paper provides an overview of the executive compensation debate with special emphasis on the role of executive share options. Widespread criticism of executive pay typically concentrates on pay levels, rather than the composition of executive pay and its determinants. The paper points out that gains from exercising executive share options are not simply rewards for the period in which they are realised and reported. The economic rationale for rewarding executives through share options is reviewed, leading to the conclusion that options are more likely to form a relatively important part of executive remuneration in organisations which face valuable, but relatively risky, investment opportunities. However, because options can aggravate conflicts of interest such as those that arise between shareholders and lenders, they are not a universally efficient form of executive compensation.
Accounting For Employee Share Options
Authors: Brown Philip , Howieson Bryan
Published: January 2009

Accounting for employee share options (ESOs) has caused a furore in the United States. Understandably, Australian standard‐setters are moving cautiously but have signalled they may follow the FASB's lead. ESOs are a major form of executive remuneration but have not usually been recognised in the employer's financial statements unless and until they are exercised. The FASB has proposed that ESOs be valued on their grant date and immediately recognised as an asset (prepaid compensation) and additional shareholders' equity (options outstanding); the asset is then to be amortised over the period in which the employee's services are received. We describe and comment on the debate, in the light of the proposal's likely impact on firms' financial profiles.
Goodwill Discontent: The Meshing Of Australian And International Accounting Policy
Authors: Miller Malcolm G.
Published: January 2009

The time‐bomb of goodwill accounting exploded in 1994 as the Australian Securities Commission sought to enforce compliance with Accounting Standard AASB 1013. The commission was attacked for its prescriptive interpretation of the amortisation requirement in the standard. Further, a campaign was waged to have the Australian Accounting Standards Board re‐examine the wider question of mandatory amortisation, which was alleged to be a nonsensical rule damaging to the international competitiveness of Australian business. However, the campaign clashed with a growing Australian commitment to the internationalisation ofaccounting standards, because the Australian goodwill standard is harmonised to its international counterpart, IAS 22. Those of some major countries are not.
A Note On The Inverse (Reverse) Sum‐of‐The‐Years‘‐ Digits Method And Other Ways To Amortise Goodwill
Authors: Brown Philip
Published: January 2009

Recently there has been controversy surrounding accounting for goodwill. One question has been whether the inverse (or reverse) sum‐of‐the‐years'‐digits (ISOYD) method is an acceptable basis for goodwill amortisation. This note addresses that question.
The Financial Value Of Cultural, Heritage And Scientific Collections: An Accounting Fiction
Authors: Carnegie G.D. , Wolnizer P.W.
Published: January 2009

That museum and like collections have cultural, heritage, scientific and educational values is widely appreciated. However, accounting standard setters in Australia and New Zealand have recently advocated that public arts institutions bring their collections to account as assets for financial reporting purposes. There are no similar requirements in the US, European Union (including the UK) and Canada; nor has the International Accounting Standards Board made such a recommendation. From surveys of current accounting practices, it is apparent that, by and large, arts institutions in the English‐speaking world do not report their collections for financial reporting purposes. This paper demonstrates that it is not technically proper to recognise cultural, heritage and scientific collections as assets for financial reporting purposes.
Cross Guarantees And Negative Pledges: A Preliminary Analysis
Authors: Clarke Frank L. , Dean Graeme , Houghton Erne
Published: January 2009

Deregulation of Australia's commercial trading environment during the 1980s spawned two major financial instruments for company groups: negative pledge and class order deed of cross guarantee. Both instruments were premised on the pari passu or creditor equality principle. If is informative for the future analysis of those financial instruments to consider their background, their commercial features and interconnections. Also, it is crucial to consider the connection between the old NCSC Class Order Deed of Indemnity and the newer AS C Deed of Cross Guarantee. This article provides preliminary evidence on the incidence of the new deed relative to its predecessor. It also considers the costs and benefits of the Deed of Cross Guarantee, including the illusory nature of the quid pro quo protections provided to creditors in return for allowing “closed‐group” companies to gain accounting and auditing relief from statutory reporting requirements.
TheCredibilityOfAustralianFinancialReporting: AreTheCo‐regulationArrangementsWorking?
Authors: Miller Malcolm C.
Published: January 2009

Credible financial reporting is hard to achieve without an accounting regulatory system. In Australia a system of co‐regulation has evolved, based on collaboration between the federal government and its agencies and the accounting profession. Compared with overseas systems, the Australian approach to regulation has unique as well as derivative features. Is the system working effectively for the delivery of dependable, internationally comparable financial reports that make reporting entities transparent and enhance investor confidence?
The Setting Of Accounting Standards in Australia: An Evolving Structure
Authors: McGregor W.J.
Published: January 2009

The evolution of the accounting standard‐setting process in Australia will bring further significant changes as we move to introduce major features of the structures existing in the United States and the United Kingdom. Those features include an independent standard‐setting body, full‐time board members and broad‐based funding of the process. Similar structural changes can be expected in other countries which have well developed standard‐setting activities, and ultimately at the level of the International Accounting Standards Committee. These changes will result from the increasing demands on the standard‐setting process and the increasing accountability required by those affected by the output of the process.
The Accounting Standard‐Setting Process In Australia: A Preparer's Perspective
Authors: Gillian Michael
Published: January 2009

Preparers of financial statements have a vital interest in the development of the accounting standards which set out the requirements for disclosure. This paper discusses some elements of the standard‐setting structure and focuses on the crucial question of international harmonisation of accounting standards.
AddressingIssuesRelatingToGoing‐GongernAuditQualificationsAndCorporateFailure
Authors: Green Wendy
Published: January 2009

This study examines the incidence of going‐concern audit qualifications and of corporate failure for Australian publicly listed companies over the period 1980‐90. The analysis includes a review of annual reports for companies that attracted going‐concern qualifications but did not subsequently fail, in order to identify potential indicators of survival. The differences between the indicators noted for failed companies that had their last accounts qualified on the basis of going concern, and those of failed companies not qualified, was also examined. Other issues of interest include a comparison of going‐concern qualifications by Big Eight (Six) and other audit firms, and the extent and location of disclosure of going‐concern problems in the annual report.
AASB 1028 And Choice Of Discount Rate: Gross Or Net Of Taxation Effects?
Authors: Houghton K.A. , Knox D.M.
Published: January 2009

This paper discusses the issues arising from the choice of discount rate to be included in the present‐value calculation required for the measurement of liabilities relating to employee entitlements in company accounts. We look at the implications of AASB 1028, as it concerns the choice of a discount rate before or after an allowance for taxation. AASB 1028 relates to most employee entitlements including long‐service leave, accumulated annual leave and workers' compensation, where the accounting entity self‐insures.
Voluntary Financial Disclosure By Australian Listed Companies
Authors: Hossain Mahmud , Adams Mike
Published: January 2009

As Australia becomes an increasingly important equity market, the level of information disclosed by Australian listed companies is likely to be of interest to a growing audience of prospective investors. This study tests the relation between five firm‐specific variables drawn from agency theory and the general level of financial information voluntarily disclosed by companies listed on the Australian Stock Exchange. The five variables are foreign listing status, firm size; leverage, assets‐in‐place and type of audit firm. The empirical evidence suggests that foreign listing status, firm size, and type of audit firm are significantly related to the level of information voluntarily disclosed by listed companies.
Predicting Half‐Yearly Accounting Income Numbers With Statistical Models
Authors: Matolcsy Z.P. , Pazmandy G.P.
Published: January 2009

Prediction of half‐yearly accounting income numbers has an important role in investment analysis, credit ratings, budgeting, auditing and other areas of the accounting and finance profession. This study provides the Australian evidence on two issues: the statistical relationship between half‐yearly accounting income numbers such as earnings per share, net profit and sales; and the ability of statistical models to predict these numbers. The study finds that the best way to predict the next period's half‐yearly accounting income numbers is to use the immediately preceding half‐yearly income number, and for inflation‐adjusted sales the corresponding previous half‐yearly figures, or to use a statistical model based on the immediately preceding half‐yearly figure adjusted by a statistically based “smoothing constant”.