An examination of requirements for disclosure of unspecified operating expenses in New Zealand

Article Abstract:

An examination has been made of requirements for disclosure of unspecified operating expenses in New Zealand. A case can be made for greater disclosure of expenses than has traditionally been made. Empirical evidence shows that from 1970 to 1994 few companies disclosed expense information beyond that specified in the general disclosure standard. Costs and benefits of greater disclosure suggest that in New Zealand more disclosure would be better. Although SSAP 9 has required that major expenses be disclosed, that has not necessarily been done. FRS 9 gives more reasons to disclose major expenses.

Standards, Business enterprises, Disclosure statements (Accounting)

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Towards a Theory of Stochastic Exit Value

Article Abstract:

The use of stochastic concepts in financial accounting has been gaining wider support and acceptance. It is argued that it is logically necessary for an exit value accounting system to adopt a stochastic framework. To preserve the 'additivity' of accounting values under this framework, it was recommended that the stochastic exit values be represented by their means and variances. For stochastic exit values, the traditional criteria of 'conservatism' 'objectivity' and comparability are less relevant, whereas 'reliability' becomes the primary consideration.

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On Capital Budgeting with an Unspecified Discount Rate

Article Abstract:

Stochastic dominance problems are analyzed. Isomorphism indigenous to the capital budgeting problem is identified. A rule is developed for multiperiod dilemmas with certainty and single period dilemmas where uncertainty exists. Restrictions on utility functions are linked to second place stochastic domination.

Methods, Discount rates, Capital budgets

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