Browsing Department of Accounting and Auditing (AA/ACC) by Title
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Now showing items 29-45 of 45
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Petersen, Christian; Plenborg, Thomas (København, 2008)[More information][Less information]
Abstract: This study focuses on methodological errors that arise when firm valuation is carried out in practice. Violation of assumptions underlying the valuation models are examples of methodological errors. We analyze valuation spreadsheets from five Danish financial institutions (i.e., stockbrokers and corporate finance departments) in order to trace if firm valuation models are properly applied. We conclude the following: (i) Methodological errors often cause valuation models to generate estimates that differ significantly from the theoretically correct value; and (ii) Firm value estimates were biased due to a variety of methodological errors. The implications of those errors may be significant. Investors are exposed to poor recommendations. Financial institutions such as investment bankers and stockbrokers may be exposed to bad reputation and lawsuits. Accounting firms that do not carry out firm valuation correctly (for example in testing goodwill for impairment) also run the risk of litigations. URI: http://hdl.handle.net/10398/6746 Files in this item: 1
wp_2008-03.pdf (229.2Kb) -
Fallan, Even (Frederiksberg, 2013)[More information][Less information]
Abstract: Environmental accounting information (environmental disclosure) is the main topic of this dissertation. It started out as sporadic disclosure in company staff newspapers, press releases etc., and developed in the 1970s to become more often incorporated in annual reports for US and Northern- and Central European companies (Lessem, 1979). Since then, environmental disclosure has become common in both annual reports and on corporate web sites. All companies listed on Oslo Stock Exchange (OSE) disclosed environmental information in their annual reports as from year 2000 (Fallan, 2007). “The concept “environmental” in this context refers to those disclosures where an organizational process or a production process may have impact on the natural environment” (Fallan and Fallan, 2007). In the four papers of this thesis, the term environmental disclosure refers to companies’ self-reported environmental information in media intended for widespread distribution (annual reports, separate environmental reports, web sites, press releases etc.). In addition to publicly available corporate environmental disclosure, environmental information is also supplied as private information by the company itself (private corporate disclosure – e.g. when a company have meetings with one stakeholder to provide or discuss information); publicly available information about the company (and its surroundings) supplied by others than the company itself (public noncorporate information – e.g. news media coverage, research reports, and public databases); and private non-corporate information (e.g. use of independent experts to take water or soil samples and satellite monitoring of land or water). However, the three latter types of environmental information are out of scope of this thesis. URI: http://hdl.handle.net/10398/8856 Files in this item: 1
Even_Fallan_NEW.pdf (2.949Mb) -
How to exploit the potential for management accounting of information technologyRom, Anders (København, 2008)[More information][Less information]
Abstract: A lag seems to exist between management accounting techniques and management accounting practices of organisations (Bjørnenak, 1997a). The accounting lag exists in spite of the interaction taking place between academia and practice in terms of researchers conducting field studies and management accountants attending research-based courses before and during their careers in practice. URI: http://hdl.handle.net/10398/7717 Files in this item: 1
anders_rom.pdf (2.648Mb) -
The Role and Interplay of Management Control Systems and Company PerformanceWillert, Jeanette (Frederiksberg, 2016)[More information][Less information]
Abstract: This dissertation addresses the topic Management Control Systems (MCS) as a Package. Many research studies investigate management and control systems individually, whereas fewer research studies take a holistic view and include a larger part of all the MCS managers use to guide and direct subordinates behaviour in the best interest of their companies. In the MCS literature, it is stressed that knowledge is particularly lacking about how managers design and use MCS as a package, and the effectiveness of using the MCS. This dissertation responds to this call by carrying out a large survey among executive managers in large companies, a survey that investigates the subject: Effective Management and Control Systems. The focus in the survey is to explore how executive management in large companies design and use their management control systems package. Further, this study is supplemented with archival data on the participating companies’ performance. The dissertation presents three papers, each of which introduces knowledge within studying managers’ use of MCS as a package. The first paper presents executive managers’ use of management control systems as a package in large companies. With basis in a conceptual MCS framework the paper explores executive managers’ focus and emphasis on using the different parts of an MCS package to guide and direct their subordinates to ensure high organisational performance and further success for their companies. The second paper is a literature review including a comparative analysis of MCS frameworks. The paper discusses the fundamental purpose of MCS frameworks to clarify the usability of MCS frameworks in research and in practice. The paper draws attention to research gaps and missing variables within the frameworks, and provides a guideline of issues that researchers and practitioners may benefit from when using the frameworks. The third paper investigates relationships between executive managers’ use of some MCS and companies’ financial performance. The MCS investigated are: strategy, evaluation of subordinates, rules and procedures and executive managers’ focus on customer relations when guiding and directing their subordinates. The paper finds both some positive and some negative relations between the use of MCS and companies’ development in financial performance. The findings in all three papers can be used by both researchers and practitioners who wish to expand and advance their existing knowledge about MCS’ impact on company performance and success. URI: http://hdl.handle.net/10398/9382 Files in this item: 1
Jeanette Willert.pdf (2.210Mb) -
Petersen, Christian; Plenborg, Thomas (København, 2007)[More information][Less information]
Abstract: ’Growth’ as a concept is often not very well understood. Growth may be measured in a variety of ways (e.g., growth in turnover, earnings, earnings per share, assets, and shareholders equity). Investors and other capital providers generally find it attractive to invest in ‘growth firms.’ For instance, earnings per share (EPS) figures are widely published and used by investors. An increase in EPS is seen as a signal of improved profitability. Likewise, growth in earnings measures such as EBIT, EBITA, EBITDA etc. seem to indicate that firms are value creating. Our paper discusses if and under what conditions growth in accounting variables (accounting numbers and financial ratios) is value creating. We find that growth in one-periodic earnings measures does not necessarily create wealth for shareholders. Only growth in economic income is value creating. Our analysis also provide evidence that users of accounting information should be aware of the quality of growth and distinguish between growth based on transitory vs. permanent components of earnings. Our analysis finally documents that growth in earnings per share or return on equity caused by share repurchases has no economic significance. URI: http://hdl.handle.net/10398/6750 Files in this item: 1
wp_2007-03.pdf (319.1Kb) -
Erfaringer fra praksisPlenborg, Thomas; Ravnkilde Nielsen, Thomas Tang; Jensen, Morten; Banghøj, Jesper (Frederiksberg, 2009)[More information][Less information]
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A Literature ReviewKweka, Opportuna; Katikiro, Robert; Minja, Rasul Ahmed; Namkesa, Faraja (Frederiksberg, 2017)[More information][Less information]
Abstract: This working paper takes stock of the academic literature on the governance of coastal resources and examines the emergence of various instruments, their implementation experiences and their implications in terms of sustainability outcomes. More specifically, it seeks to interrogate the literature in order to: (1) highlight the types of actors involved, their relations and their networks; (2) identify the main processes involved in the governance of coastal resources and different partnership models; and (3) evaluate the outcomes of these processes on social and ecological sustainability. It is the result of activities undertaken by the New Partnerships for Sustainability (NEPSUS) research and capacity building project, which analyses sustainability partnerships in three key natural resource sectors in Tanzania: forestry, wildlife and coastal resources. This paper reviews the overall literature on governance of coastal resources, with the aim of identifying gaps and shaping methodological choices for fieldwork. URI: http://hdl.handle.net/10398/9605 Files in this item: 1
NEPSUS WP 2017 4.pdf (236.3Kb) -
fordele ved at lave købesumsfordeling tidligt i processen.Madsen, Anders C.; Erhardi, Jacob; Plenborg, Thomas (Frederiksberg, 2009)[More information][Less information]
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Kai Olsen, Jørgen (København, 2003)[More information][Less information]
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Olsen, Jørgen Kai (København, 2004)[More information][Less information]
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en introduktionPlenborg, Thomas; Knudsen, Hans Jørgen; Bang Christensen, Tinus (Frederiksberg, 2009)[More information][Less information]
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The role of internal controls and materialityChristensen, Leif (Frederiksberg, 2016)[More information][Less information]
Abstract: Accounting and auditing is closely related to the quality of data. Two important elements supporting the quality of information are internal controls and materiality. Inspired by Simons (1994), these elements can be considered “basic building blocks”. Internal controls are perhaps the most important element, as they ensure that information used for management purposes has the required quality (Kinney, 2000). This information can be used as a basis for preparing the external financial reporting (COSO, 2013) and as a prerequisite for establishing information-based management control systems (MCS) (Simons, 1994). When regarding management controls as a package, internal controls are part of the administrative controls and often formalised in policies and procedures (Malmi and Brown, 2008). The level of controls should be guided by the need for reliable information. These considerations are linked to another “basic building block”, namely the concept of materiality. The basic meaning of materiality is “that there is no need to be concerned with what is not important or with what does not matter” (Bernstein, 1967). Gaining an understanding of these concepts is important in order to answer the question “when is enough – enough?” The information should be both reliable and relevant, but there is also the cost to consider, since companies spend considerable resources on the design, implementation and operation of administrative controls and financial reporting (Carney, 2006). It is also important to understand these concepts when performing an audit of the internal controls embedded in the company systems and processes (Kinney et al., 2013), as well as when preparing an annual report. The overall objective of this thesis is to add to the understanding of the role of internal controls and materiality. The three articles included aim at meeting this objective by analysing selected areas within accounting and auditing. URI: http://hdl.handle.net/10398/9353 Files in this item: 1
Leif Christensen.pdf (2.457Mb) -
Neerup Themsen, Tim (Frederiksberg, 2014)[More information][Less information]
Abstract: This dissertation addresses one of the most popular management control practices adopted worldwide over the last three decades: the practice of risk management. The current risk management literature has argued that our knowledge of the particularities of risk management practices is limited. It has been stressed that knowledge is particularly lacking about the long-term effects of practising risk management. This dissertation responds to these calls by carrying out two longitudinal case studies of two large Danish public capital investment programmes, also known as mega-projects. The focus of the two studies has been on three key risk management-related aspects: (1) the translation of uncertainties into risks, (2) the relationship between frameworks and practices of risk management, and (3) the effects of practising risk management on knowledge and project management roles. The dissertation further advances current risk management literature into the study of mega-projects and draws upon actor-network theory. It consists of three papers, which each deals with one of the above aspects. The dissertation presents three major findings. Firstly, it is demonstrated that, contrary to expectations, only some types of uncertainties are included as risks, termed pure risks, while others, termed impure risks, are systematically excluded despite the finding that people found them relevant to include. This finding is explained with reference to technical risk devices as these were found to define the boundaries between what can and what cannot be defined as an acceptable risk and thus be included. Secondly, the dissertation demonstrates that by enacting certain realities of ‘risk’ and ‘risk management’, frameworks of risk management make the practice produce the risks that confirm its propositions and thus its success. In addition, the dissertation shows that when provisional situations arise which undermine the frameworks’ propositions, reconfiguring the risk management control system, risk terminologies and the roles of actors become key actions performed to re-establish the practice. Lastly, the dissertation demonstrates that during project processes, new uncertainties emerge which challenge project and risk management objectives as new knowledge about the conditions is produced that cannot be included. In sum, this dissertation contributes by shedding light on how practices of risk management are constructed and the effects they produce over longer periods of time. URI: http://hdl.handle.net/10398/9053 Files in this item: 1
Tim_Neerup_Themsen.pdf (2.341Mb) -
Jorge, Susana; Vaz de Lima, Diana; Aggestam Pontoppidan, Caroline; Dabbicco, Giovanna (Lisabon, 2019)[More information][Less information]
Abstract: The purpose of this paper is to discuss the role of standardised Chart of Accounts (CoA) in public sector accounting and reporting, particularly focusing matters concerning the importance and need to have a CoA at national level, the issues needed to be taken into account when developing a CoA, and the expected impact of using a CoA as a bookkeeping instrument on the accuracy of accounting records and ultimately on the reliability of the financial information. Based on documentary analysis and on a survey to some of those involved in the development of a CoA for public sector accounting, the research uses a comparative-international perspective to learn from some national experiences and from European and international standard-setters’ perspectives, which can be considered by other countries intending to develop a CoA. Main findings show that the link of the national CoA to National Accounts is important in countries like those from EU, where a common fiscal discipline is monitored using these figures. It is generally acknowledged, including by international standard-setters, that a CoA in public sector accounting is important for a need to support standardised records and accounting, and the preparation of financial statements, including consolidated and WGA. All in all, this paper suggests that harmonising CoA within countries makes sense and the development at national level should consider specificities of public sector transactions, the link to the financial statements items, and the link to the budget as most important issues. URI: http://hdl.handle.net/10398/9723 Files in this item: 1
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Poulsen, Thorbjørn; Plenborg, Thomas; Rohde, Carsten (Frederiksberg, 2009)[More information][Less information]
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Rohde, Carsten; Rossing, Christian Plesner (Frederiksberg, 2011)[More information][Less information]
Abstract: When an enterprise is divided into smaller organizational units, each with its own results accountability, the question arises how to manage and measure the efficiency and profitability of such units. A task which is complicated when organizational units in the same enterprise or enterprise group trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time the determination of transfer price will affect the size of the profit or loss in the organizational units and thus have an impact on the evaluation of managers‟ performance. In some instances the determination of transfer prices may lead to a disagreement between coordination of the organizational units and overall profitability of the enterprise on the one hand and measurement of profitability and managers‟ performance in the units on the other. This chapter addresses these issues. URI: http://hdl.handle.net/10398/8374 Files in this item: 1
Carsten_Rohde_Transfer_Pricing.pdf (1.661Mb) -
Banghøj, Jesper; Plenborg, Thomas (København, 2006)[More information][Less information]
Abstract: This paper examines if the level of voluntary disclosure affects the association between current returns and future earnings. Economic theory suggests that firms might find it advantageous to provide additional pieces of information (i.e., voluntary disclosure) to investors and analysts (Verrecchia 1983). Our results indicate that more voluntary disclosure does not improve the association between current returns and future earnings; i.e. current returns do not reflect more future earnings news. This finding raises the question whether voluntary information in the annual report contains value relevant information about future earnings or if investors are simply not capable of incorporating voluntary information in the firm value estimates. Key words: Disclosure, future earnings, informativeness URI: http://hdl.handle.net/10398/6742 Files in this item: 1
artikel_udkast_010606.pdf (534.4Kb)
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Now showing items 29-45 of 45