The role of resource accounting in the UK government's quest for 'better accounting'

Article Abstract:

The British government plans to introduce a system of resource accounting to all central government units by April 1998. The move to resource accounting means that accruals will be used to measure the cost of activities, rather than the traditional cash method. An analysis of the advantages and disadvantages of the accrual system shows that the revised accounting techniques will not provide the benefits foreseen in the government's report entitled 'Better Accounting for the Taxpayer's Money'.

Accounting and auditing, Public finance, Government accounting

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Corporate governance: from accountability to enterprise

Article Abstract:

A new study examines the development of the corporate governance debate since the Cadbury Committee was formed, particularly the changed focus from accountability to the enterprise aspects of governance. A review of the literature relating to enterprise and accountability is presented, focusing on the key areas of governance, such as board structure, directors' ownership, and auditing and accounting information.

Management, Corporate social responsibility

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Financial analysis, future earnings and cash flows, and the prediction of stock returns: evidence for the UK

Article Abstract:

A new study investigates whether UK equity values reflect the future earnings and cash flow implications of current accounting disclosures. Results reinforce prior US findings and show that future earnings and cash flows are incompletely impounded in stock prices while indicating that financial information predicts earnings and cash flow changes for one year ahead.

Analysis, Finance, Corporate finance, Corporation reports, Company reports

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