Betha Cholmáin maic Luacháin: an ecclesiastical microcosm of the twelfth-century Irish midlands

Betha Cholmáin maic Luacháin (BCh) is a key source of information about a small ecclesiastical community of the Irish midlands in the medieval period. BCh is one of the longest medieval Irish hagiographic texts. A sole copy exists. Scholarly concern with manuscript Rennes 598, and the Life of Colmán therein, diminished following the 1911 edition of BCh. The most attention paid to BCh in the following decades focused largely on its onomastic information. The necessary detailed study of the text has not been undertaken. The present work is an initial view of significant areas of interaction between the church of Lann and its ecclesiastical, social and political milieu. While social and cultural aspects of the text may constitute the focus of this study, linguistic data is also investigated, complementary to evidence regarding its social and political testimony. In this way, light is cast on a complex ecclesiastical microcosm in the twelfth-century Irish midlands. In keeping with recent methodological work in the field a variety of tools are used to aid investigation, and to show the Life within its genre and wider context. An interdisciplinary approach will bring together strands of literary, cultural, archaeological, onomastic, historical, geographical, genealogical and hagiographical information, with reference to linguistic evidence where appropriate. This thesis seeks to suggest a template for studies undertaken on smaller church communities, and is set out in two main sections. The first section investigates the figure of the saint, his life, church, the manuscript source and the combination of prose and verse in the text. The second section examines the testimony of the Life regarding the ecclesiastical and secular concerns of the community of Lann, and how these concerns are represented. Evidence regarding the members of this community and their interaction with the church and the wider world is also discussed.

The quality of financial information in the extractive industries: a value relevance analysis

The extractive industry is characterized by high levels of risk and uncertainty. These attributes create challenges when applying traditional accounting concepts (such as the revenue recognition and matching concepts) to the preparation of financial statements in the industry. The International Accounting Standards Board (2010) states that the objective of general purpose financial statements is to provide useful financial information to assist the capital allocation decisions of existing and potential providers of capital. The usefulness of information is defined as being relevant and faithfully represented so as to best aid in the investment decisions of capital providers. Value relevance research utilizes adaptations of the Ohlson (1995) to assess the attribute of value relevance which is one part of the attributes resulting in useful information. This study firstly examines the value relevance of the financial information disclosed in the financial reports of extractive firms. The findings reveal that the value relevance of information disclosed in the financial reports depends on the circumstances of the firm including sector, size and profitability. Traditional accounting concepts such as the matching concept can be ineffective when applied to small firms who are primarily engaged in nonproduction activities that involve significant levels of uncertainty such as exploration activities or the development of sites. Standard setting bodies such as the International Accounting Standards Board and the Financial Accounting Standards Board have addressed the financial reporting challenges in the extractive industry by allowing a significant amount of accounting flexibility in industryspecific accounting standards, particularly in relation to the accounting treatment of exploration and evaluation expenditure. Therefore, secondly this study examines whether the choice of exploration accounting policy has an effect on the value relevance of information disclosed in the financial reports. The findings show that, in general, the Successful Efforts method produces value relevant information in the financial reports of profitable extractive firms. However, specifically in the oil & gas sector, the Full Cost method produces value relevant asset disclosures if the firm is lossmaking. This indicates that investors in production and non-production orientated firms have different information needs and these needs cannot be simultaneously fulfilled by a single accounting policy. In the mining sector, a preference by large profitable mining companies towards a more conservative policy than either the Full Cost or Successful Efforts methods does not result in more value relevant information being disclosed in the financial reports. This finding supports the fact that the qualitative characteristic of prudence is a form of bias which has a downward effect on asset values. The third aspect of this study is an examination of the effect of corporate governance on the value relevance of disclosures made in the financial reports of extractive firms. The findings show that the key factor influencing the value relevance of financial information is the ability of the directors to select accounting policies which reflect the economic substance of the particular circumstances facing the firms in an effective way. Corporate governance is found to have an effect on value relevance, particularly in the oil & gas sector. However, there is no significant difference between the exploration accounting policy choices made by directors of firms with good systems of corporate governance and those with weak systems of corporate governance.