The Main Determinants of the Use of the Cost Accounting System in Portuguese Local Government

Abstract: This paper explores the main determinants of the use of the cost accounting system (CAS) in Portuguese local government (PLG). Regression analysis is used to study the fit of a model of accounting changes in PLG, focused on cost accounting systems oriented to activities and outputs. Based on survey data gathered from PLG, we have found that the use of information in decision‐making and external reporting is still a mirage. We obtain evidence about the influence of the internal organizational context (especially the lack of support and difficulties in the CAS implementation) in the use for internal purposes, while the institutional environment (like external pressures to implement the CAS) appears to be more deterministic of the external use. Results strengthen the function of external reporting to legitimate the organization's activities to external stakeholders. On the other hand, some control variables (like political competition, usefulness and experience) also evidence some explanatory power in the model. Some mixed results were found that appeal to further research in the future. Our empirical results contribute to understand the importance of interconnecting the contingency and institutional approaches to gain a clear picture of cost accounting changes in the public sector.     

商业银行推行成本管理会计的思考

我国商业银行对成本管理会计不够重视,信息系统基础薄弱,成本资料欠缺,高素质的成本管理会计人才稀缺,内部资金的转移价格难以确定,业绩评价体系的合理性与有效性难以平衡。商业银行要推行成本管理会计就要提高各商业银行职工对成本管理会计重要性和复杂性的认识;尽快建立专门的组织机构,着力培养或引进高素质的专门人才,制定或完善规章制度;实行全面成本管理,实现分部门、分产品、分客户的管理;运用计算机技术,实现业务流程再造;强化利率——产品定价机制,合理确定内部资金转移价格;提高数据质量,建立和完善相关信息系统。     

有效银行成本制度的选择

本文分析了银行产出形态的的特殊性,指出造成传统成本制度、成本分析难以应用于银行产品成本分析。通过对银行产品的成本构成路径分析,指出作业成本制度符合银行服务的有效成本方法,对银行成本管理、经营管理具有重大意义,并对商业银行如何推进作业成本提出了设想。     

国有企业的制度成本分析

目前,国有企业通过采用先进的技术、运用科学的管理方法等多种途径大大降低了生产成本,而同样对国有企业效率有着重要影响的制度成本却久高不下。产权模糊、机制不健全以及过高的代理成本等,是国有企业制度成本过高的主要原因。国有企业制度创新势在必行。     

基于资本成本的股利决策分析

在委托代理关系和信息不对称条件下,公司经理应以资本成本决策股利支付,贯彻资本成本观念。公司经理资本成本观念是在资本成本作用机制下形成的,需要具备一定的条件。我国上市公司股利支付的随意性表明,公司经理缺乏资本成本观念,其原因在于资本成本作用机制所要求的条件不具备,因此,规范上市公司股利支付行为应从健全资本成本作用机制所要求的条件入手。     

PERFORMANCE REPORTING BY MALAYSIAN LOCAL AUTHORITIES: IDENTIFYING STAKEHOLDER NEEDS

The concept of public accountability promotes the need for a comprehensive set of performance‐related information to satisfy the information needs of a diverse stakeholder interest group. However, literature concerned with the scope of information to be disclosed, and in particular within the context of a developing country, is limited. This paper identifies the information set which stakeholders of Malaysian local authorities consider relevant in the monitoring and assessment of local authority performance. Stakeholders indicated strong interest in performance information that is not traditionally disclosed in the financial statements: non‐financial information particularly performance measurement of outputs, outcomes, efficiency and effectiveness. Disclosures in the Statement of Revenue and Expenditure and forward‐looking information are generally regarded as the most important disclosures. The results of the study also indicate differences amongst stakeholders as to the level of importance that they place on certain items especially items related to internal policies and governance and financial position of the local authorities. The findings will be of significance to policy makers interested in improving the performance reporting of Malaysian public sector entities, particularly local authorities.     

The Effect of SOX Internal Control Deficiencies on Firm Risk and Cost of Equity

The Sarbanes-Oxley Act (SOX) mandates management evaluation and independent audits of internal control effectiveness. The mandate is costly to firms but may yield benefits through lower information risk that translates into lower cost of equity. We use unaudited pre–SOX 404 disclosures and SOX 404 audit opinions to assess how changes in internal control quality affect firm risk and cost of equity. After controlling for other risk factors, we find that firms with internal control deficiencies have significantly higher idiosyncratic risk, systematic risk, and cost of equity. Our change analyses document that auditor-confirmed changes in internal control effectiveness (including remediation of previously disclosed internal control deficiencies) are followed by significant changes in the cost of equity that range from 50 to 150 basis points. Overall, our cross-sectional and intertemporal change test results are consistent with internal control reports affecting investors' risk assessments and firms' cost of equity.     

披露内部控制自我评价与鉴证报告会降低资本成本吗?——来自中国A股上市公司的经验证据

管理层对内部控制的自我评价能够释放企业内部控制有效性的信息,有助于企业外部利益相关者的决策;而由审计师出具的内控鉴证报告则是对管理层所披露的内控信息公允性的鉴证。本文以2007至2010年期间沪深主板上市的A股公司年度报告或独立公告中披露的内部控制自我评价和鉴证报告为对象,研究其披露是否会降低企业资本成本。研究表明,在控制其他因素的情况下,披露内控自我评价报告的公司资本成本相对较低,且进一步披露内控鉴证报告的公司资本成本更低。这一结论对于国有和非国有控股公司同样成立。本文的结论对政策制定者进一步推进内控披露制度具有一定参考价值,同时为公司管理层的内控披露决策提供支持依据。     

Regression Analysis: Instructional Resource for Cost/Managerial Accounting

Abstract

This paper describes a classroom-tested instructional resource, grounded in principles of active learning and a constructivism, that embraces two primary objectives: ‘demystify’ for accounting students technical material from statistics regarding ordinary least-squares (OLS) regression analysis – material that students may find obscure or overly abstract – and increase student knowledge regarding the use of Excel for cost-estimation purposes. The resource consists of a set of seven student-related files – PowerPoint slides, Word documents, and Excel files – divided into two major parts: four files that deal with simple (i.e., one-variable) linear regression and three files related to the incremental unit-time learning-curve model. A separate Word file, meant for instructors, provides detailed guidance regarding the use of the student-based files. The resource is flexible in that it can be used at both graduate and undergraduate courses in cost/management accounting; customized to meet the needs of individual instructors (coverage of the entire resource requires approximately seven hours of in-class time) and used in conjunction with any cost/management accounting textbook. Throughout the resource many references to related online supplemental materials are provided, including links to relevant online video clips.     

媒体监督、内部控制质量与管理层代理成本

基于公司外部治理机制和内部治理机制的角度,研究媒体监督与内部控制质量对我国A股上市公司管理层代理成本的影响,结果表明:媒体监督与内部控制质量具有降低管理层代理成本的作用;不同性质的媒体报道对不同产权背景下企业的监督治理作用不同;同时,媒体监督与内部控制质量具有互补关系,二者的整合治理能更有效地降低管理层代理成本,保护相关者利益。     

税收遵从成本对纳税遵从行为的影响

税收遵从成本和征管成本一同构成税收运行成本,是税收成本的重要组成部分。但由于税收遵从成本具有非显性的特征,往往被理论界及实践部门所忽视。本文借鉴国外税收遵从成本理论,分析了税收遵从成本对纳税遵从行为的影响,提出了优化我国税收制度、降低税收遵从成本的框架性建议。     

存款保险制度的财政成本问题研究

存款保险有显性和隐性两种形式。近年来,显性存款保险制度在全球范围内获得了快速发展。存款保险制度会最终影响到政府的财政成本。本文从财政成本这个新的角度来分析存款保险制度如何影响财政成本,并借鉴国际经验,探索该如何优化存款保险制度设计特征以减少财政成本。     

成本管理信息租金、内部冲突与控制绩效——基于施工项目的实验研究

本文采用实验研究的方法,针对施工项目的成本控制绩效问题展开研究,探讨了施工项目特点对经理人成本控制中信息租金的影响及对制定目标责任成本过程中委托代理双方冲突的影响,并在此基础上进一步分析信息租金、内部冲突单独和两者交互对施工项目责任成本控制绩效的影响。研究发现,由于施工项目关键成本因素难以被定量化,成本计算不具备重复可验证性,当施工项目成本节余空间较大时将导致项目部经理人的寻租行为,但信息租金会随着博弈次数的不断增加而减少。信息租金和博弈冲突均对项目部的全年成本绩效具有不利影响,但当外部环境为奖励机制时,冲突与信息租金的交互作用能够提升企业的成本控制绩效。依据实验结论,本文提供了相应的政策建议。     

多元化战略与代理成本、公司业绩关系的实证研究

本文主要研究上市公司采取多元化战略后对公司代理成本及公司业绩的影响。许多学者对目前多元化折价现象进行了解释,认为由于内部资本市场的无效率导致了多元化公司的资源配置没有发挥着理论上应该具备的优势;很多学者从代理问题出发来解释多元化折价现象,但是针对代理成本与多元化程度的关系做实证检验就很少。验证多元化是否真的提高了代理成本,本文正是基于这一点来展开研究的。结论为代理成本与多元化程度成正比,公司业绩与多元化程度成反比。     

降低保险公司营业费用的途径选择

营业费用居高不下是困扰我国寿险业发展的问题之一。寿险营业费用是保险费的重要组成部分 ,在保费的三大决定因素中是保险公司自身最可控的一个因素。本文从分析组成营业费用的三大费用即新合同费、合同维持费、收费费用出发 ,通过研究其各自对保费影响的权重 ,得出结论 :从降低合同维持费的途径来降低营业费用从而达至降低保险费的目的是最经济的。要降低合同维持费用 ,必须提高管理效率 ,改善IT系统 ,实现可持续开发     

对相关决策成本有关问题的探讨

基于管理决策行为而建立的相关成本信息,是现代管理会计的核心内容,本文对成本的相关性的特征从管理决策问题、信息评价方法、确定与不确定条件三个方面进行了界定,并进一步从机会成本、成本性态两个方面对决策成本的相关性及其运用作了延伸分析。     

信息化环境下审计机关审计成本控制对策探究

审计成本管理是审计机关审计管理的重要组成内容。随着信息技术的发展及其在各个领域的应用,审计信息化已成为审计事业发展的必然,而审计的信息化给审计成本控制带来了新问题和新挑战。本文阐述了目前我国审计信息化的现状及特点,提出了信息化环境下审计机关控制审计成本的对策,以为信息化环境下的审计成本管理提供理论与实践依据。     

Economic consequences of implementing and communicating value based management systems

We study the consequences of implementing and communicating Value Based Management (VBM) systems on information asymmetries and the cost of capital. We analyse the firms’ reporting on internal control systems as the source of information for market participants. In addition, literature posits that improving communications with shareholders by providing additional information on value generation (Value Based Reporting, VBR) is an integral part of implementing VBM. We find that the implementation of VBM and the extent of VBR are, both individually and jointly, significantly related to lower information asymmetries and lower cost of capital. We find a slight moderation of the effect of VBM by VBR. For increasing VBR, we find that information asymmetries and cost of capital decrease more strongly for firms without implemented VBM systems. This indicates that VBR can to some extent substitute VBM. Overall, however, firms using a combination of VBM and VBR attain lower levels of information asymmetry and cost of capital. We provide evidence for the real effects of disclosure, suggesting that disclosures on internal control systems serve as a governance mechanism, reducing information asymmetries and the cost of capital by aligning shareholders’ and managers’ interests.     

Cost of Capital, Strategic Disclosures and Accounting Choice

Abstract:   Theory suggests a negative relationship between disclosure and the cost of capital. However, empirical research has not, in general, confirmed this. In particular, Botosan (1997) finds no evidence of a negative relationship for firms with a high analyst following, and moreover, Botosan and Plumlee (2002a) find that firms' cost of capital increases with timely disclosures. There are several possible explanations for this puzzle. First, the theory‐driven hypothesis may be false and require re‐specification. Second, there may be correlated omitted variables contaminating the results. Finally, these inconclusive results may have arisen due to problems with the measurement of disclosure. We construct an innovative measure of timely disclosure, that attempts to capture quality rather than quantity of strategic disclosures. In addition, motivated by new theoretical research by Gietzmann and Trombetta (2003) , we control for a possible omitted variable, namely accounting policy choice. With this revised research design, we find the expected negative relationship. Furthermore, as predicted by Gietzmann and Trombetta, this relationship is only significant for firms adopting aggressive accounting policies.     

Standard Business Reporting in Australia: efficiency,effectiveness, or both?

The benefits of using eXtensible Business Reporting Language (XBRL) as a business reporting standard have been widely canvassed in the extant literature, in particular, as the enabling technology for standard business reporting tools. One of the key benefits noted is the ability of standard business reporting to create significant efficiencies in the regulatory reporting process. Efficiency‐driven cost reductions are highly desirable by data and report producers. However, they may not have the same potential to create long‐term firm value as improved effectiveness of decision making. This study assesses the perceptions of Australian business stakeholders in relation to the benefits of the Australian standard business reporting instantiation (SBR) for financial reporting. These perceptions were drawn from interviews of persons knowledgeable in XBRL‐based standard business reporting and submissions to Treasury relative to SBR reporting options. The combination of interviews and submissions permit insights into the views of various groups of stakeholders in relation to the potential benefits. In line with predictions based on a transaction‐cost economics perspective, interviewees who primarily came from a data and report‐producer background mentioned benefits that centre largely on asset specificity and efficiency. The interviewees who principally came from a data and report‐consumer background mentioned benefits that centre on reducing decision‐making uncertainty and decision‐making effectiveness. The data and report consumers also took a broader view of the benefits of SBR to the financial reporting supply chain. Our research suggests that advocates of SBR have successfully promoted its efficiency benefits to potential users. However, the effectiveness benefits of SBR, for example, the decision‐making benefits offered to investors via standardised reports, while becoming more broadly acknowledged, remain not a priority for all stakeholders.