摘要:

The question of whether profitable public corporations should be converted to private, equity capital finance (i.e.‘privatized’, in current U.K. terminology) or not is arguablythedominant issue in the public sector of the U.K. economy. The present U.K. government has embarked upon a policy of privatization of state industries. This has attracted considerable criticism on the grounds that the government's actions are the product of ideological and short‐term fiscal considerations (principally the funding of public expenditure) rather than of carefully considered policy (Heald and Steel, 1981; Heald, 1983, p. 154). This topic is examined in this paper. The discussion is neither partisan nor ideological. Instead, it centres on the technical and economic merits of equity capital versus its public sector proxy, Public Dividend Capital (PDC). This latter form of capital financing has been neglected in recent years, as the major thrust of the public sector debate has addressed the need for equity capital in the nationalized industries. Therefore, the ensuing discussion is not only a critique of the case for introducing private equity capital in state industries, but it is also an assessment of the case for the retention of PDC as a major instrument of fi

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1985.tb00109.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

The distinguishing characteristic of the double account system is the subdivision of the conventional balance sheet into a capital account and a revenue account, and it is the purpose of this paper to explain why it became the practice of railway companies to publish accounts in this form.

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1985.tb00110.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

From 1964 to 1980 there was a twenty‐fold increase in the extent to which the average Australian company resorted to lease finance. Lease disclosure by lessees was voluntary throughout this period, yet we observe that, by 1979, three out of four lessee companies had begun to disclose their lease commitments. Our study sought an answer to the question: what factors influenced Australian lessees, in their decision whether or not to disclose lease commitments in their annual reports? In a wider sense, we use this issue to probe further our power to explain accounting policy choice, particularly in situations, such as in Australia, where a small population restricts our ability to observe some aspects of the economic and political process. Based on a univariate and multivariate tests, we infer from our study that the relative frequency of voluntary disclosure by lessees was related to (a) industry, (b) firm size and (c) whether the lessee was a subsidiary company of a foreign parent; was only weakly related to (d) whether the lessee entered the Australian Institute of Management good reporting award; and was unrelated to (e) the identity of the lessee's audit firm (f) the existence of bonus scheme tied to reported profit and (g) the relative risk of the fir

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1985.tb00111.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

An important concern of accounting policy is the provision of guidance for the reporting of relevant information related to economic events including public policy actions. In the case of motor carrier deregulation, the Financial Accounting Standards Board issued a specialized accounting standard which required all regulated motor carriers to write off as extraordinary losses the intangible assets associated with their interstate operating rights. The specific focus of the present research was to investigate the extent to which these reported accounting losses reflect real economic losses. The findings provide evidence that industry‐wide economic losses are unsubstantiated. The study concludes that a requirement that all firms involved in a regulatory reform to report write‐offs which are unsupported by entity‐specific transactions or events can result in serious economic consequences. Also discussed are the more general issues relevant to the promulgation of specialized accounting standards, the impact of accounting policy on public policy formulations, and accounting treatments for politically sensitive i

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1985.tb00112.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

Transactions between related parties have been the subject of increasing concern in recent years. Corporate scandals, overseas and local, have typically involved non‐arm's length transactions contrived between the reporting entity and related companies or affiliates. These scandals provided catalysts for the relatively recent development of accounting standards on related party transactions.This paper considers whether the application of the new pronouncements, particularly the Financial Accounting Standards Boards’ statement 57 and its international equivalent, International Accounting Standard 24, is likely to overcome the problems highlighted in several major scandals. The methodology adopted involves the hypothetical application of the two pronouncements to the pertinent facts in four case studies: (1) Continental Vending, a U.S. criminal court case; (2) Penn Central, a U.S. Securities and Exchange Commission investigation case; (3) Tarling (Haw Par), a Singapore criminal court case; and (4) Stanhill, an Australian case investigated by a government appointed Inspector.In each hypothetical application, the resultant presentation is compared with the stated expectations found in the relevant findings of the case. In all cases, SFAS 57 and IAS 24 are found to be deficient.While four case studies may not be sufficient for drawing general conclusions about either SFAS 57 or IAS 24 the conclusions of this study represent preliminary evidence for evaluating those standa

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1985.tb00113.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY

摘要:

Funds statements represent one of the most confused and confusing areas of accounting because of the variety of concepts advocated and the paucity of definitions of terms. A recent proposal that a‘two‐entity test’ be used to identify those items which should be included in a statement based on the total resources concept of funds is confusing and contradi

ISSN:0001-3072    

DOI:10.1111/j.1467-6281.1985.tb00114.x

出版商:Blackwell Publishing Ltd    

年代:1985

数据来源: WILEY