The Application of the Reporting Entity Concept by Australian Charities

2020 ◽  
Vol 30 (4) ◽  
pp. 283-299 ◽  
Author(s):  
Phil Saj ◽  
Chee Cheong
Keyword(s):  
Reporting Entity

The Reporting Entity in Private-Public Accounting Harmonisation. Is Control Enough for the Local Government Consolidated Financial Statements?

2017 ◽  
pp. 5-29 ◽  
Author(s):  
Cristian Carini ◽  
Laura Rocca ◽  
Claudio Teodori ◽  
Monica Veneziani
Keyword(s):  
Public Sector ◽  
Local Government ◽  
Accounting Standards ◽  
Financial Statements ◽  
Consolidated Financial Statements ◽  
The Public ◽  
Financial Accountability ◽  
Public Sector Accounting ◽  
Definition Of ◽  
Reporting Entity

The European Commission initiated a discussion on the expediency of using the International Public Sector Accounting Standards (IPSAS), based on the IAS/IFRS, as a common base for harmonizing the public sector accounting systems of the member states. However, literature suggests that accounting is not neutral with respect to the economic, social and political dimensions. In the perspective of evolution of the accounting regulation outlined, balanced between accountability, with the need to represent phenomena for reporting pur-poses, and decisionmaking issues, which concentrates on the quantitative importance of the values, the paper aims to analyse the effects of the application of different criteria for the definition of the reporting entity of the local government consolidated financial statements (CFS). The Italian PCA 4/4, the test of control and the financial accountability approaches are examined. The evidence that emerged from the case studies examined identifies several criticalities in the Italian PCA 4/4 and support the thesis that the financial accountability approach is more effective in providing a complete representation of the public resources entrusted to and managed by the group, whereas the control approach better approximates quantification of the group results in terms of central government surveillance. The analysis highlights the importance of the post implementation review period and the opportunity to contextualize the adoption of the consolidated financial statement in the broader spectrum of the accounting harmonization process, participating in the process of definition of the European Public Sector Accounting Standards (EPSAS).

An Assessment of Compliance with Disclosure Requirements of IAS 41 (Agriculture) By Listed Agricultural Firms in Nigeria

2019 ◽  
pp. 9-18
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
International Accounting Standards ◽  
Listed Firms ◽  
External Auditors ◽  
Disclosure Requirements ◽  
Statutory Requirement ◽  
The One ◽  
Reporting Entity

This study examined the extent of compliance with disclosure requirements of IAS 41 by agricultural companies listed on the Nigerian Stock Exchange (NSE) for the period of 5 years (2013-2017). The data for the study were obtained from the published financial statements of the sampled firms for the period under review from which a compliance index were constructed, The tools for analysis used were the qualitative grading using a compliance index and the one way ANOVA purposely to test the hypotheses proposed. The study observed that three out of the four Companies achieved more than 70% with overall mean scores of 76.02%. This shows that majority of the agricultural firms in Nigeria strongly complied with the disclosure requirements of IAS 41. Based on the findings the study recommends among others that firms should strive at all times to comply with all regulatory and statutory requirement in the preparation and presentation of financial statements, giving the fact that it is a set of documents that prescribe the performance of the reporting entity. The Financial Reporting Council of Nigeria should publish annually the compliance status of all listed firms in Nigeria; so that the compliance status of every firm will become known to all interested users of financial statements; and also the Council should urge external auditors of firms to ensure that their clients are complying with the requirements of IASs issued by the International Accounting Standards Board (IASB).

1. Introduction

2014 ◽  
Author(s):  
Christopher Nobes
Keyword(s):  
Management Accounting ◽  
Financial Accounting ◽  
Different Types ◽  
Key Driver ◽  
Reporting Entity ◽  
Rules And Standards

Research shows that the need to keep account was the key driver in the invention of writing and numbers. The ‘Introduction’ explains the importance of accounting to civilization and identifies the different types of accounting — bookkeeping, financial accounting, auditing, and management accounting. The focus is on the central areas of accounting and not insolvency, tax, consultancy, and finance. The structure of accountancy bodies and firms is explained as well as the rules and standards that govern them. The reporting entity can range from a sole trader to a larger business with joint owners or partners who are liable for the debts of the business and the tax on the profits.

Definition of the Reporting Entity

2005 ◽  
Vol 15 (35) ◽  
pp. 71-78 ◽  
Author(s):  
Don Challen ◽  
Craig Jeffery
Keyword(s):  
Definition Of ◽  
Reporting Entity

scholarly journals An expanded accounting framework for sustainable growth: Focus on the relationship between a focal firm and its stakeholders

2015 ◽  
Vol 18 (3) ◽  
pp. 366-379 ◽  
Author(s):  
Taeyoung Yoo ◽  
Giseok Nam
Keyword(s):  
Financial Performance ◽  
Sustainable Growth ◽  
Financial Information ◽  
Financial Outcomes ◽  
Cooperative Relationships ◽  
Current Accounting ◽  
Accounting Principles ◽  
Focal Firm ◽  
The Relationship ◽  
Reporting Entity

In contrast to current accounting principles, which have focused on financial information about the reporting entity, this study suggests that attention should be paid to the information about relationships between a focal firm and its stakeholders. That is, we could more accurately assess the sustainability of a firm’s profit and growth by considering both its financial outcomes and business relationships. The rationale of the suggestion is that firms which facilitate mutual profitability between themselves and their stakeholders are more likely to achieve cooperative relationships and consequently enjoy better financial performance and sustainable growth than those who pursue their profitability in an exclusive way. This study therefore suggests that principles of accounting should embrace not only the incomes of a firm and its consolidations (subsidiaries, associates and joint arrangements) but also those of its stakeholders, such as suppliers.

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