Identifying experience effects on managers' ratings of AASB 1026: some preliminary evidence

Article Abstract:

Some preliminary evidence exists relative to identifying experience effects on managers' ratings of AASB 1026: Statement of Cash Flows. This standard, operative in 6/92, respresents a major reform in contemporary accounting practice in Australia. In experimental literature, a person's experience level is used as an indicator of knowledge, skill and ability. Results of an investigation show that the experience variable is related to different ratings by managers on the value of AASB 1026 for making decisions. Findings may have important implications for the process of setting standards.

Cash flow, Australian Accounting Standards Board

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Standard-setting reform: neutrality, economic consequences and politics

Article Abstract:

A question debated during the 1980s and 90s is whether accountants can be neutral in their work when their actions take on known economic consequences and when political imperatives may affect their decisions. Within this field of competing interests, however, accounting standards must be made. One proposal is Australia's Accounting Standards Review Board should develop neutral standards. Those standards should be judged by a political body for their economic impact and then revised accordingly.

Australia, Laws, regulations and rules, Accountants

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A single statement of financial performance: its time has come

Article Abstract:

Issues concerning the growing interest in accounting for income in a single statement instead of issuing separate statements for net income and for comprehensive income are examined. Topics include arguments for and against a single statement, presented by members of the Institute of Chartered Accountants of New Zealand; and a conclusion that a single statement is preferable.

Accounting Methods, New Zealand, Statistical Data Included, Accounting and auditing, Income

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