PROPOSALS FOR NEW ACCOUNTING STANDARDS FOR FOREIGN MONETARY ITEMS

The purpose of this study was to propose and evaluate different methods for measuring and reporting exchange gains and losses on corporate monetary items. Focusing on the Swedish experience, the empirical validity of three laws/monetary relationships from economic theory were examined for currencies in the Swedish 'basket' for the period 1974–1981. The basic overall finding of the study was that a method based on the Purchasing Power Parity Theory appears generally superior to methods based on either Fisher's Open Relationship or the Interest Rate Parity Theory, and also superior to the currently favoured use of the closing rate.     

CALL FOR PAPERS

Organized Uncertainty: Designing a World of Risk Management. Michael Power. Oxford University Press, 2007. xviii and 248pp. ISBN 978–0–9–925394–4. £24.99.

Intellectual Capital Reporting: Lessons from Hong Kong and Australia. J. Guthrie, R. Petty and F. Ricceri. The Institute of Chartered Accountants of Scotland, 2007, vii and 118pp. ISBN 978–1–904574–27–9. £15

The Routledge Companion to Fair Value and Financial Reporting. P. Walton (ed.). Routledge, 2007. xviii and 404 pp. ISBN 978–0–415–42356–4. £95.

UK Reporting of Intellectual Capital. Jeffrey Unerman, James Guthrie and Ludmila Striukova. ICAEW Centre for Business Performance, 2007. 68 pp. ISBN 978 1 84152 507 5. £20.     

ACCOUNTING FOR INSECURITY

This paper argues that modern systems of budgetary control are implicated in the exploitation and production of insecure forms of employment. The flexibility of direct labour is assumed at a very basic level in some of the core techniques of costing and budgetary control. Previous historical studies of the development of these forms of control, moreover, have shown that they were used to shift the costs of economic fluctuation from capital to labour as well as to encourage the efficient utilisation of human effort. In the light of these observations, it is to be expected that the use of budgetary targets which incorporate direct labour costs will: (1) be more prevalent where the workers are least able to resist the various forms of “flexibility”; and (2) encourage recourse to redundancies where the performance of business units within a company falls below expectation. The paper then tests these hypotheses against data from a recent survey of industrial relations practice in large UK companies. The results show, firstly, that there is a strong and positive association between the proportions of females and part-timers within the workforce and the use of unit labour costs and the direct labour cost/sales ratio as performance targets. Secondly, the use of return-on-investment (R.O.I.) targets is associated with the declaration of redundancies in business units which have failed to perform satisfactorily. For those to whom insecurity of employment constitutes a social problem rather than a managerial convenience to be celebrated as “flexibility”, these findings indicate that the accounting control systems typical of the modern company constitute part of the problem. The achievement of the long-standing trade union aim of security of income and employment will depend, in part, on changing these systems of control.     

CALL FOR PAPERS

This study investigates publication profiles of 137 accounting and finance faculty promoted to professor at UK universities during 1992–2007. On average, nine papers in established academic journals, with 5 at the highest 3*/4* quality levels in a portfolio of 20 outputs are required for promotion. Based on various theoretical perspectives, multivariate models of key performance benchmarks (quality and quantity measures) are constructed and have good explanatory power (R 2 Tenure was effectively abolished in the UK via the 1988 Education Reform Act on the insistence of the government. The only real protection that academic employees now have is that of employment law relating to open-ended contracts and to fixed-term contracts longer than 2 years duration. Also, many universities recruit lecturers/assistant professors on probationary contracts and the award of a permanent contract is not guaranteed. We are grateful to the editor and a reviewer for these two corrective comments. ?≥?0.7). Publication requirements seem to have increased over time, argued to be mainly attributable to government-initiated Research Assessment Exercises. For internal promotions, there is some evidence of higher hurdles but no evidence that quality requirements differ based on gender; sub-discipline; research intensity of institution peer group; or government-initiated research ranking of unit. Similarly, the quality benchmark is not reduced for those having an increased recent publication history, a high number of non-ABS outputs or sole-authored papers. Comparison with the US suggests underlying geographically-based paradigm differences. UK promotion benchmarks are argued to have evolved through a dynamic and complex interaction between university managers, the government and the accounting and finance academic community.     

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<正>1.乌克兰寻求小水电设备生产商乌克兰一企业欲寻求小水电站(1万千瓦)设备生产商。联系人:乌克兰西部电力输送公司经理Kovshar D.N.电话:+380342721868传真:+380342721867(首发子站:驻乌克兰经商参处子站)     

DOLLARIZATION FOR ARGENTINA

In January 1999, President Carlos Menem suggested replacing the Argentine peso with the U.S. dollar. President Menem's announcement has sparked a debate throughout Latin America and Eastern Europe about what has been termed "dollarization." That debate prompted U.S. Treasury Secretary Robert Rubin to deliver a major policy speech on alternative exchange-rate regimes on April 21, 1999 and the U.S. Senate Banking Committee to hold dollarization hearings the following day featuring Fed Chairman Alan Greenspan and Deputy Secretary of the Treasury Lawrence Summers.
This article presents a case for officially dollarizing Argentina. Dollarization is not new. Unofficial dollarization is widespread in emerging market countries; in fact, as much as 70% of the stock of U.S. dollars now circulates abroad. Twenty-eight countries and dependent territories are officially dollarized. Although official dollarization would result in Argentina losing seigniorage of about 0.22 percent of GDP, the author estimates that this cost would be more than offset by a reduction in interest rates that would increase Argentina's trend rate of GDP growth by about two percent.
After debunking the most common criticisms of dollarization, the article closes by offering recommendations about the specific form of dollarization and presenting a detailed dollarization statute for Argentina. The author proposes a competitive currency regime for Argentina, one in which all foreign money would be legal tender.     

CHARGING FOR ROADS

The article discusses two theoretical methods of measuring roaduse costs and designing a system of road user charges. The firststates that road damage externalities are zero and road damagecosts are equal to the traffic-related fraction of maintenanceexpenditure. The second states that, with constant returns andoptimal road capacity, congestion charges should recover theremaining total overhead costs. Vehicles should be charged thesecosts, and additional pure taxes on passenger vehicles shouldbe guided by principles of indirect taxation. Although roaduser charges alone may fail to cover the total highway budget,the additional pure taxation is likely to more than cover theshortfall. The article argues that an appropriate system oftaxes and charges can be devised to meet these requirementswithout adversely effecting the rest of the economy.      

ACCOUNTING FOR SEIGNIORAGE

This paper examines anomalies in the accounting procedures for the treatment of seigniorage on the Australian note and coin issue. It explains how the substitution of coins for notes leads to the unexpected result of reducing the budget deficit