Principles of cost accounting

If the members of The New England Manufacturing Jewelers & Silversmiths Association are to receive the benefits from Uniform Cost Accounting now being obtained by the membership of other associations, it will be because some system of Cost Accounting will be developed that will be practical and adaptable to the needs of the smaller manufacturer in the industry. Therefore, we have given consideration to the establishment of certain well defined accounting principles that will apply to all concerns in the industry, large and small, and have developed methods that may be used by the small manufacturer to meet his requirements and more detailed methods involving more clerical labor to meet the requirements of the larger manufacturers

Disconnected: Poverty, Water Supply and Development in Jakarta, Indonesia

human development, water, sanitation

Sustainability in the professional accounting and finance curriculum: an exploration

Purpose: Whereas the integration of sustainability into business schools has received increasing attention in recent years, the debate continues to be generic rather than recognising the peculiarities of the more quantitative sub disciplines such as accounting and finance which may of course be intimately linked to professional standards. The purpose of this paper, therefore, is to examine the extent to which sustainability is integrated into accounting and finance curricula in business schools, how, and to understand some of the challenges of doing so. Design/methodology/approach: This paper presents the findings from a systematic form of literature review which draws on the previous literature about how sustainability is embedded into business school curricula and the challenges in doing so. A particular focus is placed on how the ways in which sustainability is integrated into accounting and finance curricula in business schools. Findings: The paper demonstrates that accounting and finance lags behind other management disciplines in embedding sustainability and that institutional commitment is oftentimes a strong imperative for effective integration of sustainability. Practical implications: This paper is a call to practitioners and researchers alike to explore new ways of integrating sustainability in the accounting and finance curricula, including working across boundaries to provide learning opportunities for future accountants, financial managers, and generalist managers. Originality/value: The paper offers an original analysis and synthesis of the literature in the context of the accounting and finance curricula in business schools, and proposed a conceptual framework to further develop sustainability education in the context of business schools

Stakeholder Engagement in Sustainability Reporting: Evidence of Reputation Risk Management in Large Australian Companies

The objective of this research is to examine whether stakeholder engagement in sustainability reporting constitutes the process of managing reputation risks. This research utilises Shrives and Brennan’s (2017) framework of rhetorical strategies of non-compliance to obtain empirical evidence of reputation risk management in the context of stakeholder engagement in sustainability reporting. Quantitative and qualitative methods of content analysis were undertaken on 154 sustainability disclosures in both annual reports and sustainability reports of large Australian companies. This research finds that large Australian companies engage with their stakeholders to manage reputation risks: to increase market share and pre-empt social issues. It is evident that large Australian companies use several forms of rhetorical statements in their sustainability disclosures with respect to reputation risk management efforts. However, there is no evidence that they shirk responsibilities

Corporate Social Responsibility and Islamic Financial Institutions (IFIs): Management Perceptions from IFIs in Bahrain

Islamic finance is gaining greater attention in the finance industry, and this paper analyses how Islamic financial institutions (IFIs) are responding to the welfare needs of society. Using interview data with managers and content analysis of the disclosures, this study attempts to understand management perceptions of corporate social responsibility (CSR) in IFIs. A thorough understanding of CSR by managers, as evident in the interviews, has not been translated fully into practice. The partial use of IFIs’ potential role in social welfare would add further challenges in the era of financialisation

Stimulating the innovation potential of 'routine' workers through workplace learning

Governments worldwide seek to upgrade the ‘basic skills' of employees deemed to have low literacy and numeracy, in order to enable their greater productivity and participation in workplace practices. A longitudinal investigation of such interventions in the United Kingdom has examined the effects on employees and on organizations of engaging in basic skills programmes offered in and through the workplace. ‘Tracking’ of employees in selected organizational contexts has highlighted ways in which interplay between formal and informal workplace learning can help to create the environments for employees in lower grade jobs to use and expand their skills. This workplace learning is a precondition, a stimulus and an essential ingredient for participation in employee-driven innovation, as workers engage with others to vary, and eventually to change, work practices. © 2010, SAGE Publications. All rights reserved

Cost performance and risk in the construction of offshore and onshore wind farms

This article investigates the risk of cost overruns and underruns occurring in the construction of 51 onshore and offshore wind farms commissioned between 2000 and 2015 in 13 countries. In total, these projects required about $39 billion in investment and reached about 11 GW of installed capacity. We use this original dataset to test six hypotheses about construction cost overruns related to (i) technological learning, (ii) fiscal control, (iii) economies of scale, (iv) configuration, (v) regulation and markets and (vi) manufacturing experience. We find that across the entire dataset, the mean cost escalation per project is 6.5$63 million per windfarm, although 20 projects within the sample (39%) did not exhibit cost overruns. The majority of onshore wind farms exhibit cost underruns while for offshore wind farms the results have a larger spread. Interestingly, no significant relationship exists between the size (in total MWor per individual turbine capacity) of a windfarm and the severity of a cost overrun. Nonetheless, there is an indication that the risk increases for larger wind farms at greater distances offshore using new types of turbines and foundations. Overall, the mean cost escalation for onshore projects is 1.7% and 9.6% for offshore projects, amounts much lower than those for other energy infrastructure

A note on the impact of the internal organization on the accuracy of the information transmitted within the firm

We investigate the incentives sales managers have to transmit information on demand conditions to headquarters under different organizational structures, and its subsequent impact on firm performance. When headquarters chooses quantities, their interests are aligned and reliable information is transmitted. When the choice of quantities is delegated to the sales manager, instead, he prefers not to transmit reliable information and as a consequence, headquarters set transfer prices having poor information about demand. We then see that, due to this difference in the quality of the information available to headquarters, the centralized organization frequently has the best performance

Complementary and alternative medicine use among US Navy and Marine Corps personnel

<p>Abstract</p> <p>Background</p> <p>Recently, numerous studies have revealed an increase in complementary and alternative medicine (CAM) use in US civilian populations. In contrast, few studies have examined CAM use within military populations, which have ready access to conventional medicine. Currently, the prevalence and impact of CAM use in US military populations remains unknown.</p> <p>Methods</p> <p>To investigate CAM use in US Navy and Marine Corps personnel, the authors surveyed a stratified random sample of 5,000 active duty and Reserve/National Guard members between December 2000 and July 2002. Chi-square tests and multivariable logistic regression were used to assess univariate associations and adjusted odds of CAM use in this population.</p> <p>Results and discussion</p> <p>Of 3,683 service members contacted, 1,446 (39.3%) returned a questionnaire and 1,305 gave complete demographic and survey data suitable for study. Among respondents, more than 37% reported using at least one CAM therapy during the past year. Herbal therapies were among the most commonly reported (15.9%). Most respondents (69.8%) reported their health as being very good or excellent. Modeling revealed that CAM use was most common among personnel who were women, white, and officers. Higher levels of recent physical pain and lower levels of satisfaction with conventional medical care were significantly associated with increased odds of reporting CAM use.</p> <p>Conclusion</p> <p>These data suggest that CAM use is prevalent in the US military and consistent with patterns in other US civilian populations. Because there is much to be learned about CAM use along with allopathic therapy, US military medical professionals should record CAM therapies when collecting medical history data.</p