Consolidated Financial Statements （CFSs） in the public sector represent useful financial tools to improve transparency and accountability toward internal and external users. This aggregate view is only a part of the...Consolidated Financial Statements （CFSs） in the public sector represent useful financial tools to improve transparency and accountability toward internal and external users. This aggregate view is only a part of the information needed in order to give politicians, managers, employees, financial institutions, rating agencies, and citizens a whole view of a local government＇s financial performance. It emerges the need to have segment information, covering specific policy areas for which it is appropriate to separately report financial and non-financial information. This paper, after having discussed the need for accountability and decision-making in a theoretical framework, gives account of a pilot project realized by the municipality of Reggio Emilia, which introduced CFSs and segment reporting. The empirical study is based on an action research as a methodological approach to solving practical problems. Finally, the paper also offers some practical suggestions to contribute to the applicability of the segment reporting in the public sector.展开更多
The objective of this research is to examine the antecedents of financial reporting reliability of Thai-listed companies. Accountant professional ethics, accounting information system （AIS） quality, audit committee...The objective of this research is to examine the antecedents of financial reporting reliability of Thai-listed companies. Accountant professional ethics, accounting information system （AIS） quality, audit committee effectiveness, and audit firm quality are assumed to be the antecedents of financial reporting reliability. The listed companies in the Stock Exchange of Thailand （SET） are samples of the research. A mail survey procedure via the questionnaire was used for data collection from chief accountant officer. The overall results indicate that accountant professional ethics, AIS quality, audit committee effectiveness, and audit firm quality have a positive significant effect on financial reporting reliability. The results reveal that firms should develop accountant professional ethics, AIS quality, audit committee effectiveness, and audit firm quality in order to build reliable financial reporting. Overall, the results of this research contribute to chief accounting officers, accounting practitioners, and firms to emphasize development and support the generation of financial reporting reliability for financial reporting users.展开更多
It is a common belief, for the last two decades, that we can observe the transformation of the intemational economy, from industrial to knowledge economy. In a continuous changing economy, the main advantage the compa...It is a common belief, for the last two decades, that we can observe the transformation of the intemational economy, from industrial to knowledge economy. In a continuous changing economy, the main advantage the companies have is not the buildings, the machines, the trucks, or the total equipment. The strategic key of a company today is the capital that cannot be copied easily, that is not disclosed and is not tangible, the intellectual capital of the company. The intangible assets can be characterized as those without physical appearance and the value of which is limited by the rights and anticipative benefits that possession confers upon the owner. The expansion of companies into foreign markets presupposes the aggregation of financial information that includes non-homogeneous elements. The purpose of this paper is to examine the framework of identification, as well as the disclosure requirements of brand names as they have been set by several articles of Commercial Law and recognized by professional accounting institutions. Emphasis will be given to analyzing existing accounting recognition and measurement, and proposals worldwide. In conclusion, this study indicates the accounting problems of definition, measurement, and disclosure of the majority of these intangible assets to users of financial statements of the company. Despite all the difficulties, this property of the company must in some way be measured and disclosed to lead to more reliable financial statements. The proposals of this paper, will help the accounting community to solve this major problem.展开更多
New challenges have been posed to the infornmtion exchange and interconn,u;fion in financial industry with the innovalion of financial business and the development of infarmation techtinlogy. From the perspective of f...New challenges have been posed to the infornmtion exchange and interconn,u;fion in financial industry with the innovalion of financial business and the development of infarmation techtinlogy. From the perspective of financial message standardization. ISO 20022 puts forward a set of sohaions and ideas for information exchange, which have been recognized in financiat industry all around the world. Considering the variety of financial message standards and message exchange modes, it is essential to strengthen the development and application of general message standards for financial industry and build：up the general m^sage exchange platform, which wild play a significant role in guiding lhe slandardized developmenl of industry, implementing financial s/andardizalion slralegies, and enhancing the level of inlerconneclion.展开更多
文摘Consolidated Financial Statements （CFSs） in the public sector represent useful financial tools to improve transparency and accountability toward internal and external users. This aggregate view is only a part of the information needed in order to give politicians, managers, employees, financial institutions, rating agencies, and citizens a whole view of a local government＇s financial performance. It emerges the need to have segment information, covering specific policy areas for which it is appropriate to separately report financial and non-financial information. This paper, after having discussed the need for accountability and decision-making in a theoretical framework, gives account of a pilot project realized by the municipality of Reggio Emilia, which introduced CFSs and segment reporting. The empirical study is based on an action research as a methodological approach to solving practical problems. Finally, the paper also offers some practical suggestions to contribute to the applicability of the segment reporting in the public sector.
文摘The objective of this research is to examine the antecedents of financial reporting reliability of Thai-listed companies. Accountant professional ethics, accounting information system （AIS） quality, audit committee effectiveness, and audit firm quality are assumed to be the antecedents of financial reporting reliability. The listed companies in the Stock Exchange of Thailand （SET） are samples of the research. A mail survey procedure via the questionnaire was used for data collection from chief accountant officer. The overall results indicate that accountant professional ethics, AIS quality, audit committee effectiveness, and audit firm quality have a positive significant effect on financial reporting reliability. The results reveal that firms should develop accountant professional ethics, AIS quality, audit committee effectiveness, and audit firm quality in order to build reliable financial reporting. Overall, the results of this research contribute to chief accounting officers, accounting practitioners, and firms to emphasize development and support the generation of financial reporting reliability for financial reporting users.
文摘It is a common belief, for the last two decades, that we can observe the transformation of the intemational economy, from industrial to knowledge economy. In a continuous changing economy, the main advantage the companies have is not the buildings, the machines, the trucks, or the total equipment. The strategic key of a company today is the capital that cannot be copied easily, that is not disclosed and is not tangible, the intellectual capital of the company. The intangible assets can be characterized as those without physical appearance and the value of which is limited by the rights and anticipative benefits that possession confers upon the owner. The expansion of companies into foreign markets presupposes the aggregation of financial information that includes non-homogeneous elements. The purpose of this paper is to examine the framework of identification, as well as the disclosure requirements of brand names as they have been set by several articles of Commercial Law and recognized by professional accounting institutions. Emphasis will be given to analyzing existing accounting recognition and measurement, and proposals worldwide. In conclusion, this study indicates the accounting problems of definition, measurement, and disclosure of the majority of these intangible assets to users of financial statements of the company. Despite all the difficulties, this property of the company must in some way be measured and disclosed to lead to more reliable financial statements. The proposals of this paper, will help the accounting community to solve this major problem.
文摘New challenges have been posed to the infornmtion exchange and interconn,u;fion in financial industry with the innovalion of financial business and the development of infarmation techtinlogy. From the perspective of financial message standardization. ISO 20022 puts forward a set of sohaions and ideas for information exchange, which have been recognized in financiat industry all around the world. Considering the variety of financial message standards and message exchange modes, it is essential to strengthen the development and application of general message standards for financial industry and build：up the general m^sage exchange platform, which wild play a significant role in guiding lhe slandardized developmenl of industry, implementing financial s/andardizalion slralegies, and enhancing the level of inlerconneclion.
