Understanding financial information used to assess small firm performance : an Australian qualitative study

Purpose The purpose of this paper is to investigate the reality of financial and management accounting in a small group of small firms. Specifically, from the owner's perspective, an exploration is undertaken to see what financial information is collected, how it is used (or not) to make business decisions and evaluate the firm's performance, and the role played by the accountant in that process. Design/methodology/approach A phenomenological paradigm underpins this exploratory study. Semi‐structured interviews were undertaken with the owners of ten small firms, where the focus was on understanding what happens in an organisational setting, as opposed to theory and textbook practice. Findings The qualitative data supported prior research in other countries. The in‐depth analysis revealed a very basic understanding of accounting information and problems with the financial literacy amongst these small firm owners. Accounting reports were not widely produced or used, so an informal assessment, such as how much cash was in the bank, was the primary means of assessing business performance. Accountants were used for taxation services, although some owners sought more general business advice. Originality/value An understanding is developed of why there might be a gap between textbook rhetoric and reality of accounting practice in small firms. The conclusion is that accounting textbooks need to include more information about the reality of financial management in small firms.

The Formality and Informality of HRM Practices in Small Firms

The formality and informality of HRM practices in small firms Rowena Barrett and Susan Mayson Introduction The nature of human resource management in small firms is understood to be characterized by ad hoc and idiosyncratic practices. The liability of smallness (Heneman and Berkley, 1999) and resource poverty (Welsh and White, 1981) presents unique challenges to managing human resources in small firms. The inability to achieve economies of scale can mean that implementing formalized HRM practices is costly in terms of time and money for small firms (Sels et al., 2006a; 2006b). These, combined with small firm owner–managers’ lack of strategic capabilities and awareness (Hannon and Atherton, 1998) and a lack of managerial resources and expertise in HRM (Cardon and Stevens, 2004) can lead to informal and ad hoc HRM practices. For some this state of affairs is interpreted as problematic as the normative and formalized HRM practices in the areas of recruitment, selection, appraisal, training and rewards are not present (see Marlow, 2006 and Taylor, 2006 for a critique). However, a more nuanced analysis of the small firm and its practices in their context can tell a different story (Barrett and Rainnie, 2002; Harney and Dundon, 2006). In this chapter we contribute to our understanding of small firm management practices by investigating a series of questions in relation to HRM in small firms.

The relationship between small firm growth and HRM practices

The relationship between small firm growth and HRM practices Rowena Barrett, Susan Mayson and Niel Warriner Introduction In this chapter we explore the relationship between small firms’ growth orientation, their business planning efforts and the role the owner plays and whether or not formal HRM practices are used. Formal HRM practices are assessed in terms of whether they are written down, regularly applied or assured to take place. We take on board Heneman et al.’s (2000) suggestion that ‘surveys of employer practices across SMEs [would] be [a] valuable addition to the strategic human resource management literature’ (p. 23) and report the results of an online and paper survey of a sample of 1753 small firms (defined as those employing less than 20 people) in the state of Victoria (SE Australia). Our particular interest in this chapter, which is based on an analysis of 410 responses to the survey, is whether growthoriented small firms adopt formal HRM practices. This research contributes to understanding whether more formal organizational systems and routines are more likely to be used (or not) to nurture human capital in growth-oriented small firms. Moreover by focusing on firm growth, this chapter, consistent with recent calls in the literature (see Baron, 2003; Barrett and Mayson, 2006; Katz et al., 2000; Tansky and Heneman, 2003), contributes to a better understanding of issues at the intersection of entrepreneurship and HRM research.

Mobility in the child (and carer) friendly city : SEQ vs. Stockholm

The rationale for providing state subsidised public transport has changed over time from a social obligation to provide transport options for those without access to private transport to an environmental and economic imperative to minimize congestion and greenhouse gas emissions. In many jurisdictions this shift has seen a greater focus on the provision of peak hour commuter services and a shift in the demographic profile of the riding public and a significant increase in the number of commuter passengers relative to others. The scheduling of commuter services is not geared to meet the needs of children and their generally female carers who often need to engage in trip chaining and travel outside peak commuting periods and on weekends. In addition to service scheduling difficulties, transport infrastructure, both on-board and supporting infrastructure such as bus stops, train stations and connecting footpaths often do not support children and their carers to use public transport services. Combined with a negative attitude by passengers and service providers, such as bus drivers, which may see children, babies and young people as out of place and unwelcome on commuter services, these issues conspire to hinder the use of public transport by children and their carers. Overlaying feminist geography analysis and insights and child-friendly cities objectives, this paper proposes some basic criteria for the provision of public transport services and supporting infrastructure which meets the needs of children, babies and their carers and juxtaposes the achievement of these in South East Queensland, Australia and Stockholm, Sweden.

Human CD141(+) (BDCA-3)(+) dendritic cells (DCs) represent a unique myeloid DC subset that cross-presents necrotic cell antigens

The characterization of human dendritic cell (DC) subsets is essential for the design of new vaccines. We report the first detailed functional analysis of the human CD141(+) DC subset. CD141(+) DCs are found in human lymph nodes, bone marrow, tonsil, and blood, and the latter proved to be the best source of highly purified cells for functional analysis. They are characterized by high expression of toll-like receptor 3, production of IL-12p70 and IFN-beta, and superior capacity to induce T helper 1 cell responses, when compared with the more commonly studied CD1c(+) DC subset. Polyinosine-polycytidylic acid (poly I:C)-activated CD141(+) DCs have a superior capacity to cross-present soluble protein antigen (Ag) to CD8(+) cytotoxic T lymphocytes than poly I:C-activated CD1c(+) DCs. Importantly, CD141(+) DCs, but not CD1c(+) DCs, were endowed with the capacity to cross-present viral Ag after their uptake of necrotic virus-infected cells. These findings establish the CD141(+) DC subset as an important functionally distinct human DC subtype with characteristics similar to those of the mouse CD8 alpha(+) DC subset. The data demonstrate a role for CD141(+) DCs in the induction of cytotoxic T lymphocyte responses and suggest that they may be the most relevant targets for vaccination against cancers, viruses, and other pathogens.

Enterprise resource planning or enterprise resource plotting? Technological, organisational and inter-organisational aspects of enterprise resource planning package adoption and diffusion

Those in organisations tend to adopt new technologies as a way to improve their functions, reduce cost and attain best practices. Thus, technology promoters (or vendors) work along those lines in order to convince adopters to invest in those technologies and develop their own organisations profit in return. The possible resultant ‘conflicts of interest’ makes the study of reasons behind IT diffusion and adoption an interesting subject. In this paper we look at IT diffusion and adoption in terms of technology (system features), organisational aspects (firm level characteristics) and inter-organisational aspects (market dynamics) in order to see who might be the real beneficiaries of technology adoption. We use ERP packages as an example of an innovation that has been widely diffused and adopted for the last 10 years. We believe that our findings can be useful to those adopting ERP packages as it gives them a wider view of the situation.

In for the long haul : family business succession at HaulageCo

This is a case about family business succession. Because many successions fail, the 'problem of succession' is a key issue in the family business field (see Aronoff 1998; Bird eta/. 2002; Dyer & Sanchez 1998; Sharma 2004; Zalu·a & Sharma 2004). Indeed, from the non-family business literature, we know one third of relay successions - like this case where there is an identified successor - will fail, with the prospective CEO leaving before succeeding the incumbent CEO (Cmmella & Shen 2001). Research on next generation family business members is limited. Successor ath·ibutes (Chrisman, Chua & Sharma 1998; Sharma & Rao 2000), as well as various characteristics such as socialisation (Garcia-Aivmez, L6pez-Sintas & Gonzalvo 2002) a11d gender (Haberman & Danes 2007; Vera & Dean 2005) have all been considered to play a role. So too have successor intentions (Stavrou & Swiercz 1998), motivation (Le Breton-Miller, Miller & Steier 2004), commitment (Sharma & Irving 2005) and transformation from follower to leadership (Cater & Justis 2009). In this case, by outlining the socialisation of the successors, explanations of their motivations for joining a11d their current employment we can begin to see some of the underlying mechanisms at work motivating the next generation to join and stay in the family business.

The case for Sheilas, Wogs and Poofters by Johnny Warren

If you had to argue for the merits of one Australian book, one piece of writing, what would it be? Welcome to our occasional series in which our authors make the case for a work of their choosing. See the end of this article for information on how to get involved. The late Johnny Warren – also known as Captain Socceroo – was a legend of Australian football. He is fondly remembered as a player, coach, administrator, writer and broadcaster, and the award for the best player in the A-League is named the Johnny Warren Medal. And yet his 2002 biography Sheilas, Wogs and Poofters, an Incomplete Biography of Johnny Warren and Soccer in Australia, which he co-wrote with Andy Harper and Josh Whittington, seems eternally destined to raise eyebrows...

We need to talk (MCA picnic)

This collaborative, participatory work by feminist collective LEVEL took place at the Museum of Contemporary Art (MCA) as part of the official program of activities surrounding the exhibition 'War is over: (If you want it!): Yoko Ono', 2013. It took the form of a public picnic where women and their friends were invited to share food and discuss what they wanted to see in the world. Groups discussed their desires before a public declaration of these outside the museum at Circular Quay in Sydney.

Save Your Life Tonight : Heads Up

Save Your Life Tonight is a factual entertainment series produced by WildBear Entertainment for the Australian Broadcasting Corporation (ABC) and was filmed in front of a live studio audience at Royal Brisbane and Women's Hospital (RBWH). Save Your Life Tonight is a unique studio based medical series that explores Australia’s top 10 health issues in an exciting and entertaining way. Driven by charismatic host Andrew Daddo, along with resident GP Dr Liz Marles and a panel of leading experts, each episode is a fast-paced, dynamic exploration of the causes, symptoms, treatments and, most importantly, prevention of these leading health issues. But Save Your Life Tonight doesn't just talk about the issues, it shows the issues! Save Your Life Tonight features real patients, real doctors, real tests, real diagnoses, and real surgical procedures – live on stage! For the "Heads Up" episode, the program explores the issues of mental health. Only half of the Australians suffering from severe mental heath issues are receiving treatment. Featuring Ian Hickie on the panel, we also see a young mum face her crippling bird phobia with the help of a Wedge Tailed Eagle.

Sans Faute

Sans Faute (without fail) considers how technology has influenced Chinese society, culture and practice. The exhibition seeks to reveal a shared language between Western and Chinese contexts that exists through employing technology as a universal creative meeting point. The pervasive impact of the current digital landscape has been widely recognised, embraced and continues to influence many aspects of Chinese lives. The significance of these shifting contexts on contemporary art is explored in Sans Faute. Through the presentation of a range of video installations, the exhibition aims to initiate rigorous and critical engagement with these provocative works that challenge traditional ideologies to discover emergent ideas. Featuring works by eight artists from mainland China, Sans Faute is an exploration of different attitudes collected together to provide a complete picture of how these artists build a new iconic imagery. "The works of these artists present a younger generation's thinking of the reality of contemporary China through their own emotional and individual life experience," says Stephen Danzig, IDAprojects director. "We are currently witnessing an amazing re-identification in so many elements that make up China's social fabric - none more so than what's happening in the arts currently. You only need to see what's happening in Beijing to realise the pace of change." Sans Faute has been supported by QUT Confucius Institute.

Secure modular password authentication for the web using channel bindings

Secure protocols for password-based user authentication are well-studied in the cryptographic literature but have failed to see wide-spread adoption on the Internet; most proposals to date require extensive modifications to the Transport Layer Security (TLS) protocol, making deployment challenging. Recently, a few modular designs have been proposed in which a cryptographically secure password-based mutual authentication protocol is run inside a confidential (but not necessarily authenticated) channel such as TLS; the password protocol is bound to the established channel to prevent active attacks. Such protocols are useful in practice for a variety of reasons: security no longer relies on users' ability to validate server certificates and can potentially be implemented with no modifications to the secure channel protocol library. We provide a systematic study of such authentication protocols. Building on recent advances in modelling TLS, we give a formal definition of the intended security goal, which we call password-authenticated and confidential channel establishment (PACCE). We show generically that combining a secure channel protocol, such as TLS, with a password authentication protocol, where the two protocols are bound together using either the transcript of the secure channel's handshake or the server's certificate, results in a secure PACCE protocol. Our prototype based on TLS is available as a cross-platform client-side Firefox browser extension and a server-side web application which can easily be installed on deployed web browsers and servers.

In pursuit of an architecture realism

The noble idea of studying seminal works to ‘see what we can learn’ has turned in the 1990s into ‘let’s see what we can take’ and in the last decade a more toxic derivative ‘what else can’t we take’. That is my observation as a student of architecture in the 1990s, and as a practitioner in the 2000s. In 2010, the sense that something is ending is clear. The next generation is rising and their gaze has shifted. The idea of classification (as a means of separation) was previously rejected by a generation of Postmodernists; the usefulness of difference declined. It’s there in the presence of plurality in the resulting architecture, a decision to mine history and seize in a willful manner. This is a process of looking back but never forward. It has been a mono-culture of absorption. The mono-culture rejected the pursuit of the realistic. It is a blanket suffocating all practice of architecture in this country from the mercantile to the intellectual. Independent reviews of Australia’s recent contributions to the Venice Architecture Biennales confirm the malaise. The next generation is beginning to reconsider classification as a means of unification. By acknowledging the characteristics of competing forces it is possible to bring them into a state of tension. Seeking a beautiful contrast is a means to a new end. In the political setting, this is described by Noel Pearson as the radical centre[1]. The concept transcends the political and in its most essential form is a cultural phenomenon. It resists the compromised position and suggests that we can look back while looking forward. The radical centre is the only demonstrated opportunity where it is possible to pursue a realistic architecture. A realistic architecture in Australia may be partially resolved by addressing our anxiety of permanence. Farrelly’s built desires[2] and Markham’s ritual demonstrations[3] are two ways into understanding the broader spectrum of permanence. But I think they are downstream of our core problem. Our problem, as architects, is that we are yet to come to terms with this place. Some call it landscape others call it country. Australian cities were laid out on what was mistaken for a blank canvas. On some occasions there was the consideration of the landscape when it presented insurmountable physical obstacles. The architecture since has continued to work on its piece of a constantly blank canvas. Even more ironic is the commercial awards programs that represent a claim within this framework but at best can only establish a dialogue within itself. This is a closed system unable to look forward. It is said that Melbourne is the most European city in the southern hemisphere but what is really being described there is the limitation of a senseless grid. After all, if Dutch landscape informs Dutch architecture why can’t the Australian landscape inform Australian architecture? To do that, we would have to acknowledge our moribund grasp of the meaning of the Australian landscape. Or more precisely what Indigenes call Country[4]. This is a complex notion and there are different ways into it. Country is experienced and understood through the senses and seared into memory. If one begins design at that starting point it is not unreasonable to think we can arrive at an end point that is a counter trajectory to where we have taken ourselves. A recent studio with Masters students confirmed this. Start by finding Country and it would be impossible to end up with a building looking like an Aboriginal man’s face. To date architecture in Australia has overwhelmingly ignored Country on the back of terra nullius. It can’t seem to get past the picturesque. Why is it so hard? The art world came to terms with this challenge, so too did the legal establishment, even the political scene headed into new waters. It would be easy to blame the budgets of commerce or the constraints of program or even the pressure of success. But that is too easy. Those factors are in fact the kind of limitations that opportunities grow out of. The past decade of economic plenty has, for the most part, smothered the idea that our capitals might enable civic settings or an architecture that is able to looks past lot line boundaries in a dignified manner. The denied opportunities of these settings to be prompted by the Country they occupy is criminal. The public realm is arrested in its development because we refuse to accept Country as a spatial condition. What we seem to be able to embrace is literal and symbolic gestures usually taking the form of a trumped up art installations. All talk – no action. To continue to leave the public realm to the stewardship of mercantile interests is like embracing derivative lending after the global financial crisis.Herein rests an argument for why we need a resourced Government Architect’s office operating not as an isolated lobbyist for business but as a steward of the public realm for both the past and the future. New South Wales is the leading model with Queensland close behind. That is not to say both do not have flaws but current calls for their cessation on the grounds of design parity poorly mask commercial self interest. In Queensland, lobbyists are heavily regulated now with an aim to ensure integrity and accountability. In essence, what I am speaking of will not be found in Reconciliation Action Plans that double as business plans, or the mining of Aboriginal culture for the next marketing gimmick, or even discussions around how to make buildings more ‘Aboriginal’. It will come from the next generation who reject the noxious mono-culture of absorption and embrace a counter trajectory to pursue an architecture of realism.

Going through the obstruction, the Torrens System Assurance Fund and contemporary solutions : a tale weaved from a story of a nun, a romantic triangle and sibling corruption

Private title insurance has been the subject of much debate by law reform bodies and academics. This article adds a new dimension to the discussion by analysing its role against a recent scenario where a nun was betrayed by the actions of her brother, and compensation payable from the assurance fund, after much challenge by the registrar, amounted to in excess of $4 million.We ask whether the slow burning of title insurance into the psyche of Australian home purchasers will see state-based assurance fundings looking to minismise their role in the Torrens system. We also query how the rather more immediate electronic establishment of electronic conveyancing will alter the balance between the assurance fund, private title insurance and the increasing responsibilities on stakeholdes involved in conveyancing.

Distant Deaths : How Newspapers Report Fatal Events from Abroad

Despite the advent of globalisation and increasing interaction between people from different cultures, many people still are influenced in their opinion about people from other countries based on what they read, see or hear in the mass media. By investigating how newspapers report about deaths in their foreign news sections, this book provides an in-depth account of the journalistic decision-making behind the portrayal of people from other countries. Although there have been a few studies that examined news coverage of foreign death to some extent, this particular study presents the first comprehensive analysis of the topic. The book examines how newspapers in Australia and Germany decide on which foreign deaths to cover and, employing an innovative framework, it finds that cultural connections play a large part in the decision-making process. Differences between the newspapers in terms of linguistic and visual coverage of fatal events can also be traced along cultural lines. The book will be useful to students of journalism, international and intercultural communication as well as anyone interested in discourses about death in the public sphere.