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The Impact of IFRS 16 on the Companies’ Key Performance Indicators: Limits, Advantages and Drawbacks

Author(s): Alin-Eliodor Tănase,Traian Ovidiu Calotă,Florin Razvan Oncioiu / Language(s): English Issue: 1/2018

This article focuses on the impact of the new standard IFRS 16 Leases on the companies’ key performance indicators. The magnitude of this impact could be said to change depending on the usage density of the lease in the companies and also depending on the sector they are in. The results show that future transactions may be influenced by IFRS 16 such as sale and leaseback, acquisitions and mergers, and lease vs. buying

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Application of the Sampling Selection Technique in Approaching Financial Audit

Author(s): Victor MUNTEANU,Monica Petruta Zamfir (Maaliky),Cristian Florian Florea / Language(s): English Issue: 1/2018

In his professional approach, the financial auditor has a wide range of working techniques, including selection techniques. They are applied depending on the nature of the information available to the financial auditor, the manner in which they are presented - paper or electronic format, and, last but not least, the time available. Several techniques are applied, successively or in parallel, to increase the safety of the expressed opinion and to provide the audit report with a solid basis of information. Sampling is used in the phase of control or clarification of the identified error. The main purpose is to corroborate or measure the degree of risk detected following a pertinent analysis. Since the auditor does not have time or means to thoroughly rebuild the information, the sampling technique can provide an effective response to the need for valorization.

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A business case for sustainable development

Author(s): Grażyna Śmigielska / Language(s): English Issue: 1/2018

The aim of the paper is to show that there is a business case for sustainable development and how this concept interacts with corporate social responsibility. Although SD was originally a macroeconomics concept it is more and more implemented by businesses. Companies has started to include sustainable development goals in their corporate social responsibility strategies which are even sometimes replaced by sustainability strategies. By analogy to CSR it is shown that development of such strategies is not only a strategic necessity but also it could contribute to the competitive advantage of these companies. Theoretical considerations have been illustrated by presenting some examples from practice as well as the results of the desk research on corporate sustainability.

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COBIT VE COSO İÇ KONTROL YAKLAŞIMLARININ KARŞILAŞTIRILMASI

Author(s): Kadir Gökoğlan / Language(s): Turkish Issue: 3/2018

The approach developed by COSO is aimed at increasing the quality of financial reporting by focusing on internal control and management issues of enterprises. COBIT, seen as the most important of these approaches, represents the governance of information technologies in the areas of identification, reporting and development of internal control. COBIT, Although it does appear in the focus of practitioners, it is often used in non-academic research. This is because it is not among the areas of intensive investigation by academic researchers. For this reason, there is a need to take part in the current literature (Bernrioder and Ivanov, 2011: 325). It is known that COBIT received control descriptions and source documents from COSO. As a result of the study, COBIT is not a supplement to the COSO internal control framework, but is used as a different way to identify internal controls in today's IT-centric world and COBIT and COSO have been identified as important support tools for documenting and understanding internal control frameworks.

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The balanced scorecard logic in the management control and reporting of small business company networks: A case study

Author(s): Selena Aureli,Andrea Cardoni,Mara Del Baldo,Rosa Lombardi / Language(s): English Issue: 2/2018

The purpose of this paper is to assess and integrate the application of the balance scorecard (BSC) logic into business networks identifying functions and use that such performance measuring tool may undertake for SME’s collaborative development. Thus, the paper analyses a successful case study regarding an Italian network of small companies, evaluating how the multidimensional perspective of BSC can support strategic and operational network management as well as communication of financial and extra financial performance to stakeholders. The study consists of a qualitative method, proposing the application of BSC model for business networks from international literature. Several meetings and interviews as well as triangulation with primary and secondary documents have been conducted. The case study allows to recognize how BSC network logic can play a fundamental role on defining network mission, supporting management control as well as measuring and reporting the intangible assets formation along the network development lifecycle. This is the first time application of a BSC integrated framework for business networks composed of SMEs. The case study demonstrates operational value of BSC for SME’s collaborative development and success.

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Strategic cost management, contingent factors and performance in services

Author(s): Odysseas Pavlatos / Language(s): English Issue: 2/2018

The purpose of this paper is to investigate the relationship between contextual factors identified from contingency-based research, the extent of the use of strategic cost management (SCM) techniques and business performance in services. An empirical survey was conducted on a sample of 88 services in Greece. The analysis of the survey data indicates that the use of strategic cost management techniques in services can be considered quite satisfactory. By drawing on the grounds of contingency theory, five factors were identified as potentially exhibiting an emergent relationship with strategic cost management. The five factors are; (1) Perceived environmental uncertainty, (2) Structure, (3) Organizational life cycle stage, (4) Strategy and (5) Size. The survey revealed that SCM usage is positively affected by these five contingent factors, while SCM usage, in turn, positively affects performance. A significant mediating effect of SCM usage on performance is evident.

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Determinants and consequences of disruptive innovations: Evidence from the UK financial services sector

Author(s): Tasawar Nawaz / Language(s): English Issue: 2/2018

Building on the assumption that intangible and tangible corporate resources are indispensable to create and sustain firm value in today’s knowledge-driven economy; this paper empirically examines the determinants and consequences of disruptive innovations in the context of the UK financial services sector. The major contribution of this paper is to provide novel insights into the value creation process in one of the world’s leading financial services sector. In doing so, the paper exploits various properties of the selected financial institutions and submits that financial and human capital resources drive value in the UK’s financial services sector. The paper makes informed suggestions for the financial institutions operating in the UK and abroad. The results observed in the present study will potentially enhance the understanding of the international audiences on the banking business model practiced by the UK-based financial institutions.

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A research note of potential scientific management accounting research area in CEECs

Author(s): Beata Zyznarska-Dworczak / Language(s): English Issue: 2/2018

The paper is a commentary on the future of management accounting in Central and Eastern European countries, portrayed in the manuscript in the Journal Sustainability in its Special Issue titled “Corporate Social Responsibility (CSR) in Developing Countries: Current Trends and Development”. The manuscript “The Development Perspectives of Sustainable Management Accounting in Central and Eastern European Countries” written by Beata Zyznarska-Dworczak promotes the role of management accounting in a wider social, ethical, environmental, cultural and historical context. This approach contributes to the understanding of sustainable management accounting towards socio-economic transformations and developments in Central and Eastern European countries, in the research perspectives of alternative management accounting. It encourages to treat sustainable management accounting as a social and institutional activity, realizing a complementary role (to conventional) of the management accounting system in this region of Europe because of its emerging economy perspective. This approach determines new potential scientific management accounting research area. The aim of this paper is to outline the potential for researchers to influence the development perspectives of sustainable management accounting. The paper, as a thought provoking discussion of science, raises the following questions: may the alternative context of sustainable management accounting provide opportunities for researchers investigating accounting issues in Central and Eastern European countries? is it possible to combine alternative perspectives into management accounting research? how to combine it with conventional economics-based mainstream research? How to measure corporate sustainability performance in management accounting system?

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Pitching non-English language research: A dual-language application of the Pitching Research Framework

Author(s): Robert Faff,Xuefeng Shaob,Faisal Alqahtani,Muhammad Atif,Anna Białek-Jaworska,Angel Chen,Geeta Duppati,Marisol Escobar,Marinela Finta,Anne Jeny,Marcio Machado,Takahiro Nishi,Bao Hoang Nguyen,Jae-Eun Noh,Jurij-Andrei Reichenecker,Hideaki Sakawa,Eleftheria Vaportzis,Luluk Widyawati,Singgih Wijayana,Chinthake Wijesooriya,George Ye,Nan Li,Clara Zhou / Language(s): English Issue: 2/2018

The global language of scholarly research is English and so the obstacle of getting noticed is montainous when the article is not written in the English language. Indeed, despite rapid advances in technology, the “tyranny of language” creates a segmentation inhibiting scholarly research and innovation generally. Mass translation of non-English language articles is neither feasible nor desirable. Our paper proposes a strategy for remedying this segmentation – such that, the work of non-English language scholars become more discoverable. The core piece of this strategy is a “reverse-engineering” [RE] application of Faff’s (2015, 2017a) “pitching research” template. More specifically, we provide access to translated versions of the “cued” template across thirty-three different languages, and most notably for this journal, including the Romanian and French languages. Further, we showcase an illustrative dual language French-English example.

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Reflections on pitching research: Do it your own way

Author(s): Asmita Manchha / Language(s): English Issue: 2/2018

This pitch letter provides a reflection of a student’s personal experience of completing Faff (2017)’s reverse engineered pitch. The reflection describes Faff’s pitching template as a learning and self-developmental tool. As a learning tool, the pitching template focuses on building technical skills as a researcher. However, as a self-developmental tool, the pitching template creates opportunities for discovering who the pitcher is and aspires to be as a researcher. The underlying message of this reflection depicts that no one pitch is the same. Hence, pitching research enables the pitcher to ‘do it their own way’, from their idiosyncratic perspective of the research process.

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Behavioral effects of nonconscious mimicry and social intentions: A Reverse Engineered Pitch

Author(s): Kerstin Klein / Language(s): English Issue: 2/2018

Using the pitching research template elaborated by Faff (2017) as basis, this paper discusses the reverse engineering process on the article “Behavioural effects of nonconscious mimicry and social intentions” by Wong, Hartley and Tombs (2017). The main objective is to reflect on the reverse engineering exercise while including major findings of the paper itemized. This paper adds an additional angle on the reverse engineering process, the pitching research template and Robert Faff’s efforts in creating a comprehensive research base.

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CHALLENGES AND PERSPECTIVES OF REGULATING THE ACCOUNTING PROFESSION IN THE REPUBLIC OF MACEDONIA

Author(s): Adrijana Bulevska Zarikj,Biljana Gjozinska,Igor Bulevski / Language(s): English Issue: 19/2018

The primary focus of this paper is to present an inclusive analysis of the regulation of the accounting profession in the Republic of Macedonia, with a specific accent given to the advantages and disadvantages created by the current accounting regulative. The paper strives to create a clear image of the current situation of the accounting profession in Macedonia, as this profession is one of the core influencers of corporate management. Additionally, the paper analysis the directions in which the improvement of the accounting profession should go, in order harmonize its regulation with the regulation of the same profession in developed countries. Through the analysis of the regulation currently in place, its implementation in practice and a small number of papers addressing this issue, the paper tries to identify the perspectives and challenges that stakeholders in the accounting profession encounter, such as professional accountants, entities using accounting services, public revenue offices, legislators and others.

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Creating a Creative Climate for Change Management in Knowledge Age

Author(s): Ana Matović / Language(s): English Issue: 21/2017

In order to achieve a successful business and compete successfully in today’s marketplace, organizations should treat and pay attention to knowledge, which is the core of their competence, as to other strategy-an irreplaceable resource and asset. Knowledge Management (KM) essentially presents an intellectual property management - as a resource in a way that provides the company a competitive advantage. While KM has a lot to offer, the implementation of KM process is not so simple, such as installing a software package. The successful implementation of KM requires long-term commitment and dedication of management, leadership that supports and complements the corporate culture, dedicated, well-trained employees and managers, the use and application of information technology in the right way. The aim of this paper is to highlight the importance of creating a creative climate for change management in the knowledge age.

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Изследване качеството на счетоводната информация и изграждане на висококачествена счетоводна информационна система

Author(s): Gergana Tsoncheva / Language(s): Bulgarian Issue: 02 BG/2018

Questions about the quality of the information in the annual financial statements are increasingly being discussed, which has raised the interest in the topic. Different views and comments are presented in the publications on this topic as to what criteria are used to determine what is qualitative and useful and whether information can be qualitative but not useful at any given time.Accounting information and the accounting information system serve to analyze business activities of enterprises and are directly related to the level of information provision. Good analysis should be based on high quality information based on relevance, credibility, comprehensibility and comparability.The purpose of the research is to clarify the criteria for determining the quality of accounting information and, hence, for the construction of a high-quality accounting information system.

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The impacts of introduction of VAT on the audit profession and economy in the UAE: Auditors’ perspective

Author(s): Aisha Saderuddin,Yasser Barghathi / Language(s): English Issue: 3/2018

Commencing 1st January 2018, Value Added Tax (VAT) was made effective in the UAE. The decision was made in light of the fall in oil prices and with the aim of diversifying the country’s revenue to non-hydrocarbon sectors. This paper examines the impacts of introducing VAT on the audit profession and the economy in the UAE. Unlike previous studies which have viewed this topic from a business or consumer perspective, this paper examines it from an auditor’s perspective. Given that this topic relates to a new policy and there isn’t much literature available on it, this study explores the auditors’ perceptions about the implications of this new policy on both; audit profession and the economy. This paper employs semi-structured interviews with auditors from both Big-Four as well as Non-Big-Four audit firms in order to collect data. This research, apart from being a timely and trending topic, may be useful to academicians, tax specialists, auditors, businesses and regulatory bodies. The findings of the study suggest that auditors are optimistic about VAT implementation in the UAE with respect to the growth in the economy in the long run. However, they have mixed perceptions regarding the audit profession and believe that there is no material impact on it due to VAT implementation.

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The threats of using computerized accounting information systems in the banking industry

Author(s): Ernest Amoaful Bansah / Language(s): English Issue: 3/2018

The adoption and over dependence on IT in performing banking operations during the past decades are well-recognised. The use of information systems in performing accounting tasks has been credited with many accolades nonetheless, threats to the systems have become inevitable for most firms in the changing business environment. In this study, the extents to which CAIS in the banking industry in Ghana are susceptible to vulnerability are explored by means of descriptive survey. The study investigated the sources and causes of risks that threaten CAIS in financial firms and the preventive measures available to mitigate their occurrence. The study reveals that the most worrying sources of threats to CAIS include power outages, risks posed by employees, viruses, and threats from outsiders. With regards to the causes of risks to CAIS, the findings indicate that accidental entry of bad data, unauthorized copying of the system’s output, lack of frequent back-ups, infrequently updates on system security software, access to data by unauthorized personnel, weakness in internal controls, and lack of written policies are the major causes of threats to CAIS. Generally, the findings indicate high level of perceived sources and causes of risks among financial firms in Ghana. However, effective measures to secure CAIS are lacking. It is therefore recommended that attention is given to these issues before they become unbearable.

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Does accounting education develop ethical maturity? Evidence from Indonesia

Author(s): Irsyadillah Irsyadillah,Alhashmi Aboubaker Lasyoud / Language(s): English Issue: 3/2018

The purpose of this paper is to provide empirical evidence in relation to the ethical development of students studying accounting in Indonesia. To understand the development of these students’ ethical maturity, we examine their perspectives about the purpose of accounting and the objective of business. The paper reports on the results of four focus groups of accounting students who just completed an introductory financial accounting course. The Indonesian context is then used to frame the analysis of the focus groups. Insights from the focus groups reveal a strong notion that the perspectives of students studying accounting in Indonesia were solely influenced by ethical values of Anglo-American capitalism. The ethical values of prioritising shareholder interests over other stakeholders are generally accepted by these students as the nature of accounting and business. The finding suggests that accounting education does not only change the cultural values of students studying abroad in western countries as highlighted by previous studies, it also shapes the ethical values of accounting students educated at home. Thus, this paper concludes that accounting education in Indonesia does not develop students’ ethical maturity because they were only inculcated with a single perspective.

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Does demonetization affect innovation? A study of cash heavy businesses in India: A Fantasy Pitch

Author(s): Robin Carrick,William Tunny / Language(s): English Issue: 3/2018

This paper outlines the use of Faff’s (2015, 2017) pitching research template to create a research pitch for a “fantasy” topic. The process of using each section in the template and the scholars’ views on the process is detailed and is followed by noting the key learning outcome of the exercise; having the freedom to choose a “fantasy” topic and working through the template from scratch led to the scholars gaining a deeper understanding of how to use the pitching research template for starting research.

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CEO connectedness and expropriation: A pitch

Author(s): Shijun Guo / Language(s): English Issue: 3/2018

This pitch letter shares my personal experience of applying the pitch template to my research topic as well as my personal reflection on this pitching exercise. The pitch template is a systematic approach which helps me understand the paper, structure the research design and organize the introduction of my paper. I truly encourage every academic researcher to apply this tool to their research.

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Market discipline and banking crises in Russia: A Reverse Engineered Pitch

Author(s): Nurhastuty Wardhani / Language(s): English Issue: 3/2018

Research is a long journey for a new early career researcher and PhD student. At the early stage, the new researcher needs to build up the “brick” foundation and to communicate well with the advisory team regarding their research progress. Pitching research developed by Faff (2015; 2017) can be a strong tool for answering the confusion of beginner researcher in their initial journey. This pitching research letter offers the author’s experience in implementing Faff’s (2015; 2017) template to the reverse engineering pitch in the area of banking market discipline. This pitching research template has been applied to a published article by Karas et al. (2013), who investigated the market discipline in Russian banking. In addition, this letter conveys a personal reflection regarding the pitching template.

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