Presentation Of Financial Information Research Articles

Provincial health accounts in Kerman, Iran: an evidence of a “mixed” healthcare financing system

Provincial Health Accounts (PHA) as a subset of National Health Accounts (NHA) present financial information for health sectors. It leads to a logical decision making for policy-makers in order to achieve health system goals, especially Fair Financial Contribution (FFC). This study aimed to examine Health Accounts in Kerman Province. The present analytical study was carried out retrospectively between 2008 and 2011. The research population consisted of urban and rural households as well as providers and financial agents in health sectors of Kerman Province. The purposeful sampling included 16 provincial organizations. To complete data, the report on Kerman household expenditure was taken as a data source from the Governor-General's office. In order to classify the data, the International Classification for Health Accounts (ICHA) method was used, in which data set was adjusted for the province. During the study, the governmental and non-governmental fund shares of the health sector in Kerman were 27.22% and 72.78% respectively. The main portion of financial sources (59.41) was related to private household funds, of which the Out-of-Pocket (OOP) payment mounted to 92.35%. Overall, 54.86% of all financial sources were covered by OOP. The greatest portion of expenditure of Total Healthcare Expenditures (THEs) (65.19%) was related to curative services. The major portion of healthcare expenditures was related to the OOP payment which is compatible with the national average rate in Iran. However, health expenditure per capita, was two and a half times higher than the national average. By emphasizing on Social Determinant of Health (SDH) approach in the Iranian health system, the portion of OOP payment and curative expenditure are expected to be controlled in the medium term. It is suggested that PHA should be examined annually in a more comprehensive manner to monitor initiatives and reforms in healthcare sector.

On Selection of Superannuation Fund: Impact of Choice and Information*

Australia superannuation industry is an essential part of the three pillar retirement income policy with the first two pillars comprising of mandatory contributions and voluntary contributions. The contributors to superannuation schemes have significant control over their retirement assets with most having the choice of selecting a fund and their preferred investment option(s). However, many Australians remain disengaged from their superannuation plans and seem unaware of how their funds are performing. This study examined the best ways to present financial information to help young Australians make optimal decisions regarding their superannuation. Surveys were employed to present financial information on superannuation using four different models, experimenting with the display of fee, risk and return information. The overall results of the study highlight a number of interesting findings. First, where fee information was displayed affected fund selection as well as the reason for choosing the fund. Second, risk labels such as "medium risk" or "high risk" seemed to be more commonly relied upon than risk expressed as years of negative returns (risk probabilities). Third, employers appeared to be highly influential in fund selection. Finally, age seemed not to influence the fund or investment option selection. These findings have implications for regulators, fund managers, employers and superannuation fund members.

Functional fixation: Experimental evidence on the presentation of financial information through different digital formats

This study examines whether, in the presentation of financial information, digital formats address the concern over users’ functional fixation. The accounting literature indicates that the presentation of financial information either within the financial statements or in the notes to the financial statements often creates functional fixation where users of financial statements fail to adjust for differences in accounting policy. This leads users to judge what would otherwise be identical financial situations as being different due to the different accounting policies and methods adopted. It has been suggested that the use of digital formats in presenting financial reports may overcome functional fixation. Using an experimental design involving accountants in public practice, the results indicate that the use of digital formats to present financial reports does not fully overcome the issue of functional fixation in the processing of financial information. Although the participants were able to identify and extract relevant information, irrespective of whether or not the information was presented within the financial statements or in the notes to the accounts, the evidence indicates that functional fixation remained when the participants made final decisions based on available information. This suggests that functional fixation may not be caused by access to or extraction of information but by the level of perceived significance based on where the information is reported in the financial statements. In general, the results indicate that current technology may not be able to fully reduce functional fixation in the evaluation of financial information prepared in accordance with different accounting policies and methods.

Forensic Accounting – An Investigative Approach of Accounting

Economic crimes have increased dramatically in recent years. This becomes evident in viewing newspaper reports, which on an almost daily basis report of economic crimes committed in communities across the country. Forensic accounting can be defined as the science of gathering and presenting financial information in a form that will be accepted by a court of jurisprudence against perpetrators of economic crimes. This study covers the meaning, importance, and scope of forensic accounting. The demand for and interest in forensic accounting is expected to continue to increase; more universities are planning to provide forensic accounting education. It is widely viewed forensic accounting education as being relevant and beneficial to accounting students, the business community, the accounting profession, and accounting programs.

The impact of Information Technology (IT) on modern accounting systems

This paper attempts to clarify the impacts of information technology (IT) on accounting systems. The biggest impact IT has made on accounting is the ability of companies to develop and use computerized systems to track and record financial transactions. IT networks and computer systems have shortened the time needed by accountants to prepare and present financial information to management. This system allows companies to create individual reports quickly and easily for management decision making. Other capabilities of computerized accounting systems are: Increased Functionality, Improved Accuracy, Faster Processing, and Better External Reporting. Finally, this paper shed light on advantages and disadvantages of using information technology (IT) in accounting systems.

The novelist as Hollywood star: author royalties and studio income in the 1920s

This article examines the significant financial rewards obtained by the English popular novelist Elinor Glyn as a result of the motion picture adaptations of her stories in the 1920s. It uses newly available archive materials to present detailed financial information on a number of Glyn adaptations (including Three Weeks and It ), and discusses the narrative around these data in terms of the issue of contracts and the role of specific film companies such as MGM and Paramount. It also shows that conflict over royalties and the relevant accounting practices were significant elements of Glyn’s experiences in Hollywood at this time. Comparing Glyn’s status as a ‘star’ author and personality with other well-known authors of the period, the article concludes that she was in some ways a unique phenomenon in terms of the level of her artistic and financial success.

Financial reporting on the internet: the portuguese case

Due to recent developments in information technologies, Portuguese companies are using the Internet to disclose accounting information through their Web sites. After presenting the advantages and eventual risks of this form of financial reporting and literature review, the Web sites of Portuguese listed companies were examined throughout March 2000 to February 2001, to determine which companies present financial information and whether the information provided is summarised, identical to the paper version of the annual report or is more detailed. In addition, we tested if there is significant difference between company size, industry type, overseas listings and the extent of financial disclosure on the Internet. We concluded Portuguese companies are starting to face positively this new way of financial reporting. Concerning the hypotheses tests performed we noticed that, likewise to what is happening in other countries, there is a positive correlation between company size and the existence of Web site and company size and financial information disclosed.

The presentation of financial information at corporate Web sites

The advent of the World Wide Web has provided a new avenue for companies to communicate with current and potential investors. Our study investigates corporate Web site financial disclosure practices. We evaluate and compare the Web site disclosure levels of 17 industries, and summarize the frequencies with which a variety of financial disclosure items are found. Our examination identifies several practices that raise potential concerns for the accounting profession. In particular, we investigate annual report excerpts tailored for Internet users and identify information found at Web sites that may increase disclosure risk. We also discuss issues associated with locating and using Web site data.

Financial information on the Internet: a survey of the homepages of Austrian companies

This paper analyses the use of the Internet to present financial information by Austrian companies listed in the most liquid market segment of the Vienna Stock Exchange. The study covers two points in time, end of December 1997 and 1998, respectively. The scores of the companies are analysed across firms and over time, and Austrian firms' scores are compared to those of the German DAX 30 companies. Hypotheses related to the costs and benefits of information are tested. The results show for Austria that larger companies and companies with higher percentage of free float score higher.

In the Balance: Making Financial Information Accessible

Evaluation of financial document design formed the central part of a recent research project by the Royal National Institute for the Blind (RNIB). The study, entitled The Presentation of Financial Information for Visually Impaired People, investigated financial information design in four alternative formats: large print; Braille; audio cassette; and computer disk. The results have raised some interesting implications for designers of financial documentation. Several design feature preferences were drawn from the research which are being recommended as general guidelines for financial information design. These results are outlined within a discussion of the importance of this type of research not only for visually impaired people themselves but also for financial institutions as a result of impending legal requirements under the Disability Discrimination Act (1995). Future research on this topic by the RNIB is discussed, as are some thoughts on incorporating creativity with accessible design.

The presentation of library accounts

In his paper ‘Accounting information in universities’ Sims draws attention to the inadequacy of university financial information systems. He argues that the way in which universities present financial information emphasizes the university's function as a steward of public funds, but he does not provide the data on which good management decisions can be made.

Confidence Interval Financial Statements: An Empirical Investigation

Conventional financial statements present quantitative financial information about an entity in the form of single point estimates. Accordingly, they do not include a quantitative measure of the uncertainty inherent in these point estimates. In this paper, I present the results of a study which attempted to determine the effect of a quantitative measure of uncertainty on a sample of commercial bank loan decisions. Traditionally, the commercial bank loan officer has used financial statements to evaluate the risk of a loan. Evidence on the usefulness of financial statements in this regard has been provided by Beaver [1966; 1968] and Altman [1968], among others. The point of issue in this study, however, is whether a quantitative measure of the uncertainty in accounting numbers, such as a confidence interval, influences a loan officer's evaluation of the risk associated with a loan.1

Presenting Financial Information to Employees

A Developing Activity. In a previous article it was suggested that for the purpose of presenting financial information to employees it was first essential to clarify the objectives of the exercise. If the purpose was to communicate to employees information about the progress of the company, then the selection and presentation of the information must be without any form of bias. It seemed that many of the presentations were too obviously directed towards the purpose of conveying a particular viewpoint, such as the validity of the profit motive or the relative growth of the wage cost. Many of the handouts under‐rated the intelligence of the readers by the implicit assumption that they were incapable of comprehending a figure unless it was accompanied by a humorous drawing. Some of the handouts seemed to be unduly concerned with the absolute size of the figures but left the reader without a standard for comparison, such as a past or related figure.

The Presentation of Financial Information in Company Annual Reports

Gone are the days when the preparation of the Annual Report was looked upon as a necessary evil and a chore by the officers of a company; it is realised now that the Annual Report is a vital source of information to the financial world and the one opportunity in the year to tell shareholders of their Company's record, activity and progress. Sir Alexander Ross said, when receiving The Accountant Award on behalf of United Dominions Trust in 1973, that a new approach had been adopted “with the object of both giving and receiving the maximum advantage from what is without doubt the most important document published by the company each year”. He added that they “set out to present the document in a form which would encourage people to read it, to understand it, and so to learn more about UDT and its activities and aspirations”. With these thoughts in mind the efforts of those involved with the publication of the Report can be directed towards an end product that will advance the standing of their company and bring credit to all concerned.

The Presentation of Financial Information to Employees

A growing practice in industry. It has been for many years the custom of a number of industrial companies to publish summaries of their financial results for the information of their employees. In some cases this information is presented in the form of a booklet or news sheet in which the salient features of the annual accounts are explained in simple terms. Other companies include such information in their house journals, alongside the ostensibly greater human interest of births, marriages and deaths. It is by no means unknown for companies to publish interim reports, especially of output and sales turnover, on works notice boards, interposed perhaps between announcements of the forthcoming staff dance and next Saturday's football match. In a praiseworthy effort to make the figures more comprehensible to those illiterate in numeracy, or merely more unindigestible, the financial data may be illustrated by pie charts in arresting colours or little men of various sizes.