Financial statements in less developed countries : what do preparers demand?

This study reports on an empirical investigation of the characteristics, attitudes, and beliefs of preparers of external financial reports in a less developed country. The basic research instrument consisted of a questionnaire in two parts: the first addressing attitudes of professional accountants toward annual financial reports generally; the second, more specifically measuring the importance of the information items to preparers. Our results suggest that the independent auditor is the most influential group in decision-making processes. As in many developed countries, the auditor’s report and the regulatory framework are considered to have a major influence on financial reporting practices. Preparers believe that a lack of knowledge of external users’ needs and lack of reporting standards and accepted accounting principles are the main concerns with corporate financial reports in Iran. The results showed that the balance sheet, auditors’ report, and income statement in that order are the three most important parts of the annual reports.

Experimental stress analysis of a steel light truck wheel

The development of a new automotive wheel requires extensive testing and possible design changes. The wheel investigated had three major changes during development. These three designs were subjected to a stress analysis, by experimental methods, to allow a comparison to be made between each design. The experimental program tested the wheels under conditions designed to simulate the loading of the front wheels whilst cornering. A loading frame was built for this purpose and all testing was performed statically by multiple loading for different directions of bending moment. Brittle lacquer coatings were used on each wheel to highlight high strain areas and indicate optimum locations for the placement of strain gauges. The strain gauges were then used to evaluate the strains. Wheel stud loads were also monitored via strain gauges applied to two of the wheel studs. All data was stored on magnetic tapes and the stress analysis performed by means of a minicomputer. The results of the stress analysis showed quantitatively the improvement in design from the first to the third wheel design. The analysis of the stud loads and their variation during loading indicated the optimum wheel mounting face geometry to ensure nut loosening would not occur in service.

Connection between commonly used financial ratios and misrepresentation of financial statements of collapsed corporations

This paper unravels dynamic and intriguing shifts in the use of financial ratios in signaling corporate collapse. An empirical examination of the anecdotal evidences from notable recent corporate collapses coupled with the short-lived usefulness of financial ratios in various prediction models suggest that companies(1) that deliberately misrepresent their financial statements may have taken cues from the ratios that are commonly investigated. This proposition is supported by an extensive examination of over 50 studies conducted between 1968 and 2002. The erosion in the reliability of numbers in financial statements has led to significant distortions in the predictive power of financial ratios when used in signaling corporate collapse. Recent collapses such as Parmalat in Europe, Enron and WorldCom in the U.S. and HIH in Australia, present yet another reminder that financial statement items are being misrepresented. These are all large corporations with well-established household names, and are for sure closely monitored by financial communities around the globe. Nevertheless, a common thread seems to link the collapse of these companies: none of these collapses were foreseen by credit rating agencies or foretold by the widely accepted bankruptcy prediction models. Why? This paper attempts to use some anecdotal evidence in order to provide logical explanations to the existence of such a common thread. It argues that there appears to be anecdotal evidence to suggest that directors of publicly listed companies that have collapsed may have deliberately misrepresented financial statement items.

What can Australia learn from the Europeans about public participation? Article 6 of the Aarhus Convention and environmental impact statements

The United Nations Economic Commission for Europe Convention on Access to Information, Public Participation in Decision-Making and Access to Justice in Environmental Matters (Aarhus Convention) is the only international convention that is exclusively devoted to public participation in environmental matters. Although it is European in origin, much of the detail of the Convention draws upon national environmental legislation, including aspects of the Australian environmental legal system. This article compares the public review provisions relating to environmental impact statements in Australia with Art 6 of the Convention governing "Public Participation in Decisions on Specific Activities". The article finds that much of the Australian laws with some exceptions satisfy the minimum requirements of public participation in Art 6.

Prosecutors' recommendations for improving child witness statements about sexual abuse

Child sexual abuse cases are often not prosecuted because of poor evidential quality. The aim of this study was to elicit suggestions from prosecutors as to how investigative interviews with child witnesses (the main form of evidence in child abuse cases) could be improved. Thirty-six in-depth phone interviews were held with 19 trial prosecutors shortly before and after trials. For each case, prosecutors were asked to provide feedback about the strengths and limitations of the child witness interviews, along with suggestions for how the interviews could have been improved. Thematic analysis revealed three broad areas for improvement: the need for tighter focus on the elements of the offence, better clarification of inconsistencies and ambiguities in the account, and greater consideration of how the child presents in the eyes of the jury. These areas, along with the prosecutors' practical suggestions, are outlined. The paper concludes with a discussion of the implications of these findings for trainers in child witness interviewing.

Application of the reporting entity concept and lodgement of special purpose financial statements

This Research Report analyses the application of the reporting entity concept and the adoption of special purpose financial reporting, particularly by entities lodging financial statements with the Australian Securities and Investments Commission (ASIC) and with state-based regulators in Australia’s three most populous states, namely, Consumer Affairs Victoria, NSW Fair Trading and Queensland Office of Fair Trading. This Report does not cover entities that have their equity interests traded in a public market, such as listed companies, and some other entities with ‘public accountability’.

Improving the evidential quality of child witness statements about sexual abuse

 Child sexual abuse cases are often not prosecuted because of poor evidential quality of the visually recorded investigative interview. This thesis examined prosecutors’ perceptions of interviews and took a constructive approach to determine how the evidential quality and usefulness of interviews could be improved.

Effects of the season of the year, truck type and location on truck on skin bruises and meat quality in pigs

The purpose of this study was to evaluate the effect of the season of the year (summer vs winter), type of truck (A: single decker vs B : double-decker) and pig location on the truck (front, middle, rear) on the incidence of skin bruising and pork quality variation. For this purpose, 2660 gilts of an average weight of 126.7 (+/- 6.6) kg originating from 19 different farms were used. No interaction between season of the year, type of truck and location on truck was observed. A higher number of bruises on the body at unloading and slaughter (P < 0.0001) and a higher number of bruises on the carcass (P < 0.01) were observed in winter. At unloading a higher number of bruises on the body and on the carcass after slaughter was observed in pigs transported on Truck A (P=0.004 and P=0.05). A higher, although not significant, number of bruises was found on the body of pigs transported in the rear compartment of both trucks. Higher paleness value was found in the longissimus and semimembranosus muscles in summer (P=0.0001) than in winter. Cold and heat stress have a negative influence on skin bruises and meat quality, respectively. Poor vehicle design increases the incidence of bruised carcasses without detracting from pork quality regardless of the climate conditions tested and location of the animal it] the truck. (c) 2006 Elsevier B.V. All rights reserved.

Statements on chaos control designs, including a fractional order dynamical system, applied to a MEMS comb-drive actuator

In this work, we deal with a micro electromechanical system (MEMS), represented by a micro-accelerometer. Through numerical simulations, it was found that for certain parameters, the system has a chaotic behavior. The chaotic behaviors in a fractional order are also studied numerically, by historical time and phase portraits, and the results are validated by the existence of positive maximal Lyapunov exponent. Three control strategies are used for controlling the trajectory of the system: State Dependent Riccati Equation (SDRE) Control, Optimal Linear Feedback Control, and Fuzzy Sliding Mode Control. The controls proved effective in controlling the trajectory of the system studied and robust in the presence of parametric errors.

Considerations in light truck suspension design

The present work aims at to approach considerations of trucks suspension design. The proposal of the work consists of discussing the aspects related to the acting of the suspension and of factors that interact with the system through representative models of the dynamic behaviour of the vehicle ride when operating in total load and/or empty conditions. The importance of this work is to revise some procedures of suspension study in the sense of adapting them to the Brazilian reality, tends in view the importance of the design characterisation and adaptation to the typical roads of Brazil. Copyright © 2000 Society of Automotive Engineers, Inc.