 | XIMB Fellow Programme in Management (Doctoral Level) |
| FPM Scholars Jogendra <email> | Accounting and Regulation Guide: D. V. Ramana About Accounting and Regulation Accounting is considered as a branch of knowledge relating to the measurement and communication of economic information to various stakeholders of an organisation. The information required and available or made available depends on the environment in which the organisation operates. The nature of accounting research has evolved over the years and is still evolving. In the late nineteenth and early twentieth centuries, accounting writers were concerned with describing observed practices and providing rules for recording business transactions. Later, accounting became an important activity to comply with the regulations framed to protect the shareholders. Research in accounting and regulation would cover the following issues: Is there a need for external regulation to bring in changes in accounting practices? Some relevant papers: "In financial accounting environment, as it exists today, change will not happen in the absence of SEC action to stimulate the profession. If innovation is to occur, the SEC must be the principal source." (John C. Burton: The SEC and financial reporting: The sand in the oyster. Rashad, A.R., (ed.), Government regulation of accounting and information, Proceedings of a conference, sponsored by The Accounting Research Centre, University Press of Florida, Gainesville.) "The SEC has been neither creative nor a force for improvement but rather an organisation that has hampered the development of financial reporting by its excessive omni-presence and its disregard of market factors without concomitant benefit to the investors." (George Benston: The effectiveness and effects of the SEC’s Accounting Disclosure Requirements. Economic Policy and the Regulation of Corporate Securities, Edited by H. Manne, 1969, American Enterprise Institute, Washington.) Public interest vs. private interest: whose interest should accounting serve? Some relevant papers: The ascendancy of public interest is the another important factor affecting accounting as a branch of knowledge and practice. If public interest is ignored in a democracy, the public will eventually asset its influence through the political process. (George R. Catlett: Rashad, A.R., (ed.), Government regulation of accounting and information, Proceedings of a conference, sponsored by The Accounting Research Centre, University Press of Florida, Gainesville.) Resources Books Watts, R.L. and Zimmerman, J.L. (1986). Positive accounting theory, Prentice-Hall, Englewood Cliffs, New Jersey. Beaver, W.H. (xxx). Financial reporting: an accounting revolution, Prentice-Hall, Englewood Cliffs, New Jersey. Rashad, A.R. (ed.) (xxx). Government regulation of accounting and information, Proceedings of a conference, sponsored by The Accounting Research Centre, University Press of Florida, Gainesville. Kahn, A.E. (1988). The economics of regulation: principles and institutions, The MIT Press, MA. Articles Beaver, W.H. (1968). The information content of Annual Earnings Announcements. Empirical Research in Accounting: Selected Studies, Supplement to Vol 6. of Journal of Accounting Research. Connard, L. (xxx). A structuration analysis of accounting systems and systems of accountability in the privatised gas industry. Centre for Competition and Regulation, Working Paper 01-3, School of Management, University of East Anglia, Norwich, UK. Hopwood, A.G. (1990). Accounting and organisational change. Accounting, Auditing and Accountability Journal, Vol. 3, No. 1, pp. 7-17. Roberts, J. and Scapens, R. (1985). Accounting systems and systems of accountability: understanding accounting practices in their organisational contexts. Accounting, Organisations and Society, Vol. 10, No. 4, pp. 443-456. Web Sites Utility Regulation Research Centre http://www.ximb.ac.in/~ramana/ReguResearch/utilityregulation.htm Institute of Public Utilities http://ipu.msu.edu Centre for Analysis of Risk and Regulation http://www.lse.ac.uk/collections/CARR/ Federal Energy Regulatory Commisison http://www.ferc.gov Security Exchange Commission http://www.sec.gov/ Expected Profile A Masters level education in accounting and interest in the various issues relating to regulation. |
FPM Cell Xavier Institute of Management Xavier Square, Bhubaneswar 751013, INDIA email: dean@ximb.ac.in |