Comments on the Australian Accounting Research Foundation's Legislation Policy Discussion Paper NO.4 (A framework for financial reporting by incorporated associations)

The Australian Accounting Research Foundation (AARF) recently issued Legislative Policy Discussion Paper No.4 which proposes a framework for financial reporting by Australian incorporated associations.This paper comments on both the merits and deficiencies of the proposal. In particular it notes that the proposal simply advocates that the application of differential reporting, accounting standards, and the conceptual framework be imposed on incorporated associations by amended statutes. It is noted that in light of long experience in the corporate sector, he espoused benefits of such a move may not eventuate. Further, concern is expressed that the proposal is a blank cheque one because of the inadequacy of existing relevant accounting standards and the proposal to introduce new relevant standards. Another major defect in the proposal is that it emanates from accountants who acknowledge in their conceptual framework, the need for external reports to report on performance through both financial and non-financial reporting methods. Despite that acknowledgment, the standard set of external reports prepared by accountants do not measure performance as defined in their own conceptual framework (SAC 2) and in their auditing pronouncements (AUP 33), and they have restricted their domain to financial reporting (SAC 2). Accordingly the proposal appears to be seriously deficient and it is suggested that it be rejected and a new proposal be prepared by a multi-party group free from vested interests.

Surrogacy laws in Queensland: one step forward and two steps back?

This short article summarises some of the proposed reforms to surrogacy laws in Queensland, suggested by the Liberal National Party in 2012. The paper outlines some of the main objections that could be voiced in response to the proposed changes to the law.

Journalists and Twitter : how Australian news organisations adapt to a new medium

Twitter has developed an increasingly visible presence in Australian journalism, and in the discussion of news. Many journalists have begun to explore manageable approaches to incorporating Twitter into their work practices, and for some – like the ABC’s ‘star recruits’ Annabel Crabb and Latika Bourke – it has already become a career driver. This article examines the positioning of journalists as ‘personal brands’ on Twitter, by documenting the visibility of leading personal and institutional accounts during two major political events in Australia: the Rudd/Gillard leadership spill on 23 June 2010, and the day of the subsequent federal election on 21 August 2010. It highlights the fact that in third-party networks such as Twitter, journalists and news organisations no longer operate solely on their own terms, as they do on their own Websites, but gain and maintain prominence in the network and reach for their messages only in concert with other users. It places these observations in a wider context of journalist/audience relations, a decade after the emergence of the first citizen journalism Websites.

Stress and addiction : contribution of the corticotropin releasing factor (CRF) system in neuroplasticity

Corticotropin releasing factor (CRF) has been shown to induce various behavioral changes related to adaptation to stress. Dysregulation of the CRF system at any point can lead to a variety of psychiatric disorders, including substance use disorders (SUDs). CRF has been associated with stress-induced drug reinforcement. Extensive literature has identified CRF to play an important role in the molecular mechanisms that lead to an increase in susceptibility that precipitates relapse to SUDs. The CRF system has a heterogeneous role in SUDs. It enhances the acute effects of drugs of abuse and is also responsible for the potentiation of drug-induced neuroplasticity evoked during the withdrawal period. We present in this review the brain regions and circuitries where CRF is expressed and may participate in stress-induced drug abuse. Finally, we attempt to evaluate the role of modulating the CRF system as a possible therapeutic strategy for treating the dysregulation of emotional behaviors that result from the acute positive reinforcement of substances of abuse as well as the negative reinforcement produced by withdrawal.

Neuronal nicotinic acetylcholine receptors : neuroplastic changes underlying alcohol and nicotine addictions

Addictive drugs can activate systems involved in normal reward-related learning, creating long-lasting memories of the drug's reinforcing effects and the environmental cues surrounding the experience. These memories significantly contribute to the maintenance of compulsive drug use as well as cue-induced relapse which can occur even after long periods of abstinence. Synaptic plasticity is thought to be a prominent molecular mechanism underlying drug-induced learning and memories. Ethanol and nicotine are both widely abused drugs that share a common molecular target in the brain, the neuronal nicotinic acetylcholine receptors (nAChRs). The nAChRs are ligand-gated ion channels that are vastly distributed throughout the brain and play a key role in synaptic neurotransmission. In this review, we will delineate the role of nAChRs in the development of ethanol and nicotine addiction. We will characterize both ethanol and nicotine's effects on nAChR-mediated synaptic transmission and plasticity in several key brain areas that are important for addiction. Finally, we will discuss some of the behavioral outcomes of drug-induced synaptic plasticity in animal models. An understanding of the molecular and cellular changes that occur following administration of ethanol and nicotine will lead to better therapeutic strategies.

The effect of screen size on mission commander's situation awareness

Situation awareness lost is a common factor leading to human error in the aviation industry. However, few studies have investigated the effect on situation awareness where the control interface is a touch-screen device that supports simultaneous multi-touch input and information output. This research aims to conduct an experiment to evaluate the difference in situation awareness on a large screen device, DiamondTouch (DT107), and a small screen device, iPad, both with multi-touch interactive functions. The Interface Operation and Situation Awareness Testing Simulator (IOSATS), is a simulator to test the three basis interface operations (Search Target, Information Reading, and Change Detection) by implementing a simplified search and rescue scenario. The result of this experiment will provide reliable data for future research for improving operator's situation awareness in the avionic domain.

Extracting deck trend to plan descent trajectory for safe landing of UAVs

This paper outlines a feasible scheme to extract deck trend when a rotary-wing unmanned aerial vehicle (RUAV)approaches an oscillating deck. An extended Kalman filter (EKF) is de- veloped to fuse measurements from multiple sensors for effective estimation of the unknown deck heave motion. Also, a recursive Prony Analysis (PA) procedure is proposed to implement online curve-fitting of the estimated heave mo- tion. The proposed PA constructs an appropriate model with parameters identified using the forgetting factor recursive least square (FFRLS)method. The deck trend is then extracted by separating dominant modes. Performance of the proposed procedure is evaluated using real ship motion data, and simulation results justify the suitability of the proposed method into safe landing of RUAVs operating in a maritime environment.

A comparative analysis of Anglo-Australian pre-packs : can the means be made to justify the ends?

Pre-packaged administrations have been prevalent in the UK for years. However, Australia's voluntary administration regime has been more restrictive of the practice. This article analyses the evolution of UK pre-packs, why they are not prevalent in Australia and the challenges for UK and Australian lawmakers in striking the right balance with pre-packs in their respective administration regimes. The article proposes a mechanism that might make ‘connected-party’ pre-pack business sales work more fairly for stakeholders — that is, by obligating a connected-party purchaser to make a future-income contribution in favour of the insolvent company whose business has been ‘rescued’ by a pre-packaged sale in administration.

A new legal avenue for pricing GHG emissions? To trade or to tax?

In a September 2010 media release the Prime Minister of Australia presented the terms of reference for the newly established Multi-Party Climate Change Committee. Although the Committee is charged with considering climate change mitigation measures in general, specifically the Committee must consider an appropriate mechanism for the establishment of a carbon price. The purpose of this article is to provide an overview of the mechanisms to be considered by the Climate Change Committee, including the use of emissions trading and carbon levies in other jurisdictions. This article argues that for any effective investigation of a carbon price for Australia to occur, a thorough knowledge of other jurisdictions’ methods for carbon pricing is essential.

Discretionary use of open briefings in the Australian continuous reporting environment

The Australian Securities Exchange (ASX) listing rule 3.1 requires listed companies to immediately disclose price sensitive information to the market via the ASX’s Company Announcements Platform (CAP) prior to release through other disclosure channels. Since 1999, to improve the communication process, the ASX has permitted third-party mediation in the disclosure process that leads to the release of an Open Briefing (OB) through CAP. An OB is an interview between senior executives of the firm and an Open Briefing analyst employed by Orient Capital Pty Ltd (broaching topics such as current profit and outlook). Motivated by an absence of research on factors that influence firms to use OBs as a discretionary disclosure channel, this study examines (1) Why do firms choose to release information to the market via OBs?, (2) What are the firm characteristics that explain the discretionary use of OBs as a disclosure channel?, and (3) What are the disclosure attributes that influence firms’ decisions to regularly use OBs as a disclosure channel? Based on agency and information economics theories, a theoretical framework is developed to address research questions. This theoretical framework comprises disclosure environments such as firm characteristics and external factors, disclosure attributes and disclosure consequences. In order to address the first research question, the study investigates (i) the purpose of using OBs, (2) whether firms use OBs to provide information relating to previous public announcements, and (3) whether firms use OBs to provide routine or non-routine disclosures. In relation to the second and third research questions, hypotheses are developed to test factors expected to explain the discretionary use of OBs and firms’ decisions to regularly use OBs, and to explore the factors influencing the nature of OB disclosure. Content analysis and logistic regression models are used to investigate the research questions and test the hypotheses. Data are drawn from a hand-collected population of 1863 OB announcements issued by 239 listed firms between 2000 and 2010. The results show that types of information disclosed via an OB announcement are principally on matters relating to corporate strategies and performance and outlook. Most OB announcements are linked with a previous related announcement, with the lag between announcements significantly longer for loss-making firms than profitmaking firms. The main results show that firms which tend to be larger, have an analyst following, and have higher growth opportunities, are more likely to release OBs. Further, older firms and firms that release OB announcements containing good news, historical information and less complex information tend to be regular OB users. Lastly, firms more likely to disclose strategic information via OBs tend to operate in industries facing greater uncertainty, do not have analysts following, and have higher growth opportunities are less likely to disclose good news, historical information and complex information via OBs. This study is expected to contribute to disclosure literature in terms of disclosure attributes and firm characteristics that influence behaviour in this unique (OB) disclosure channel. With regard to practical significance, regulators can gain an understanding of how OBs are disclosed which can assist them in monitoring the use of OBs and improving the effectiveness of communications with stakeholders. In addition, investors can have a better comprehension of information contained in OB announcements, which may in turn better facilitate their investment decisions.

Development and validation of the consumer disillusionment toward marketing activity scale

This study examines disillusioned consumers. The theory proposes that this is a group learning to lower their expectations of firm integrity and who, to avoid being let down, ignore marketing activity directly from the firm. This kind of exchange orientation develops as a response to consistent failure in perceptions of firm integrity. The research includes six studies, including over 600 adult consumers, to outline the development and validation of a measure of consumer disillusionment toward marketing activity. Completing the process provides a valid and reliable four-item measure. In addition, the study includes the assessment of the nomological validity of the construct. The nomological validation includes using cue utilization theory to predict that disillusioned consumers favor advertising that provides evidence of verifiable integrity. The validation experiment uses print advertising containing high and low verifiable integrity stimuli. Results confirm the theory with disillusioned consumers focusing less on the firm as source of information. Further, these consumers respond more favorably than non-disillusioned consumers to third party endorsers who serve to verify the firm's attempts to show integrity.

Collective equipments of power: The road and the city

A year ago, I became aware of the historical existence of the group CERFI— Le centre d’etudes, de recherches, et de formation institutionelles, or The Study Center for Institutional Research and Formation. CERFI emerged in 1967 under the hand of Lacanian psychiatrist and Trotskyite activist Félix Guattari, whose antonymous journal Recherches chronicled the group’s subversive experiences, experiments, and government-sponsored urban projects. It was a singularly bizarre meeting of the French bureaucracy with militant activist groups, the French intelligentsia, and architectural and planning practitioners at the close of the ‘60s. Nevertheless, CERFI’s analysis of the problems of society was undertaken precisely from the perspective of the state, and the Institute acknowledged a “deep complicity between the intellectual and statesman ... because the first critics of the State, are officials themselves!”1 CERFI developed out of FGERI (The Federation of Groups for Institutional Study and Research), started by Guattari two years earlier. While FGERI was created for the analysis of mental institutions stemming from Guattari’s work at La Borde, an experimental psychiatric clinic, CERFI marks the group’s shift toward urbanism—to the interrogation of the city itself. Not only a platform for radical debate on architecture and the city, CERFI was a direct agent in the development of urban planning schemata for new towns in France. 2 CERFI’s founding members were Guattari, the economist and urban theorist François Fourquet, feminist philosopher Liane Mozère, and urban planner and editor of Multitides Anne Querrien—Guattari’s close friend and collaborator. The architects Antoine Grumback, Alain Fabre, Macary, and Janine Joutel were also members, as well as urbanists Bruno Fortier, Rainier Hoddé, and Christian de Portzamparc. 3 CERFI was the quintessential social project of post-‘68 French urbanism. Located on the Far Left and openly opposed to the Communist Party, this Trotskyist cooperative was able to achieve what other institutions, according to Fourquet, with their “customary devices—the politburo, central committee, and the basic cells—had failed to do.”4 The decentralized institute recognized that any formal integration of the group was to “sign its own death warrant; so it embraced a skein of directors, entangled, forming knots, liquidating all at once, and spinning in an unknown direction, stopping short and returning back to another node.” Allergic to the very idea of “party,” CERFI was a creative project of free, hybrid-aesthetic blocs talking and acting together, whose goal was none other than the “transformation of the libidinal economy of the militant revolutionary.” The group believed that by recognizing and affirming a “group unconscious,” as well as their individual unconscious desires, they would be able to avoid the political stalemates and splinter groups of the traditional Left. CERFI thus situated itself “on the side of psychosis”—its confessed goal was to serve rather than repress the utter madness of the urban malaise, because it was only from this mad perspective on the ground that a properly social discourse on the city could be forged.

Blogging the 2009 Queensland State Election

The internet has become important in political communication in Australia. Using Habermas' ideal types, it is argued that political blogs can be viewed as public spheres that might provide scope for the expansion of deliberative democratic discussion. This hypothesis is explored through analysis of the group political blog Pineapple Party Time. It is evident that the bloggers and those who commented on their posts were highly knowledgeable about and interested in politics. Form an examination of these posts and the comments on them, Pineapple Party Time did act as a public sphere to some degree, and did provide for the deliberative discussion essential for a democracy, but it was largely restricted to Crikey readers. For a deliberative public sphere and democratic discussion to function to any extent, the public sphere must be open to all citizens, who need to have the access and knowledge to engage in deliberative discussion.

The high price of hesitation where time of the essence

The decision of Lai v Soineva [2011] QSC 247 in relation to the operation of standard conditions in the Queensland REIQ contract highlights a very practical issue often overlooked in the heat of a transaction .The point is relatively simple. In this instance ,the case concerned the interpretation of the printed "Building and Pest Inspection Clause" but is of relevance to the printed "Finance Clause" in the same contract as the wording and principles are identical. It highlights the issue of knowing well what is in the standard contract and not making assumptions. The case also highlights the cost to a party of dithering in making an election in a time of the essence environment

Electoral behaviour in the 2010 Australian federal election

All elections are unique, but the Australian federal election of 2010 was unusual for many reasons. It came in the wake of the unprecedented ousting of the Prime Minister who had led the Australian Labor Party to a landslide victory, after eleven years in opposition, at the previous election in 2007. In a move that to many would have been unthinkable, Kevin Rudd’s increasing unpopularity within his own parliamentary party finally took its toll and in late June he was replaced by his deputy, Julia Gillard. Thus the second unusual feature of the election was that it was contested by Australia’s first female prime minister. The third unusual feature was that the election almost saw a first-term government, with a comfortable majority, defeated. Instead it resulted in a hung parliament, for the first time since 1940, and Labor scraped back into power as a minority government, supported by three independents and the first member of the Australian Greens ever to be elected to the House of Representatives. The Coalition Liberal and National opposition parties themselves had a leader of only eight months standing, Tony Abbott, whose ascension to the position had surprised more than a few. This was the context for an investigation of voting behaviour in the 2010 election....