Teaching the concept of decision-usefulness, and accounting as a technical, social and moral practice: the case of COVID-19 “case number” reporting

Sidaway, S; Juric, Daniela; Deegan, Craig

doi:10.1108/medar-06-2021-1329

Cited by 7 publications

(16 citation statements)

References 29 publications

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“…Of the other seven articles, the authors of five of these quoted in full the definition of accounting outlined earlier and elaborated upon in Figure 1 (Powell and McGuigan, 2023; Sidaway et al , 2023; Twyford, 2023; Twyford and Abbas, 2023; Vesty et al , 2023). The broad scope of accounting positions taken by each of these five author teams is now aligned with the Framework outlined in Figure 1.…”

Section: Discussion and Analysismentioning

confidence: 99%

“…In addition, they use other terms such as “scorecard metrics” or “balanced scorecard” (once each), “contested value” (once) which includes non-financial measurement. On observing the key words used by the authors in all eight papers, Sidaway et al (2023), included “non-financial information”, however, “financial” was not used in any of these papers as a key word to refer to financial information or similar term.…”

Section: Discussion and Analysismentioning

confidence: 99%

“…Seven of the following eight articles hereafter published specifically deployed this proposed new definition of accounting in undertaking their studies (i.e. Masiero et al , 2023; O’Connell et al , 2023; Powell and McGuigan, 2023; Sidaway et al , 2023; Twyford, 2023; Twyford and Abbas, 2023; Vesty et al , 2023). Three sub-sections now follow.…”

Section: Discussion and Analysismentioning

confidence: 99%

“…In the context of COVID-19 “case number” reporting, specifically, the reporting of non-financial information, Sidaway et al (2023) demonstrate how teaching broader accounting concepts can advance the understanding that students have about accounting’s technical, social and moral dimensions. This viewport is premised on how accounting education and practice has traditionally emphasised the technical aspects of accounting and has overwhelming situated accounting, especially regulated accounting, within a financial context.…”

Section: Outline Of Articlesmentioning

confidence: 96%

“…To the contrary, Parker and Narayanan (2023) point out that the traditional financial reporting focus is at risk of being too narrowly focussed and may be insufficient for organisations "to be held accountable for their Covid-19 era actions towards employees and customers". Sidaway et al (2023) advocated for accounting not just to be concerned with the qualitative characteristics of financial information for general-purpose financial reporting and called for accounting education to position the qualitative characteristics of decisionuseful information beyond a mere financial context. As accounting information influences behaviour, creating a diversity of social impacts, it stands to reason to use diverse information of equivalent integrity in dispensing impacts engineered by means of the adoption of accounting around the globe.…”

Section: Accounting As Financial and Non-financial Informationmentioning

confidence: 99%

See 4 more Smart Citations

COVID-19 and accounting as multidimensional technical, social and moral practice: a framework for future research

Carnegie

Gomes²,

McBride³

2023

MEDAR

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Purpose The purpose of this study is to augment an understanding of the importance and relevance of a proposed new definition of accounting to reset, inform and develop accounting education, professional practice and research, from tomorrow, for the purpose of shaping a better world. In the process of setting an agenda, we outline, discuss, and analyse the eight articles which follow depicting complementary and insightful scenarios during COVID-19. Design/methodology/approach This study applies an original informing framework for discussion and analysis purposes, described as Framework of the Multidimensional Nature of Accounting. The proposed, multidimensional definition is “Accounting is a technical, social and moral practice concerned with the sustainable utilisation of resources and proper accountability to stakeholders to enable the flourishing of organisations, people and nature” (2021a, p. 69, 2021b). Findings Accounting is conceived, understood and examined in the research portrayed as a combined technical, social and moral practice concerned with shaping a better world to enable the flourishing of organisations, people and nature. To the contrary, accounting is not recognised as a mere neutral, benign, technical practice. Research limitations/implications While this paper examines the other articles, there is no substitute for carefully reading, and reflecting on, all the articles published. Importantly, each contribution provides unique and comprehensive insights on accounting during the initial global pandemic period. Originality/value Accounting is studied in different organisational and social contexts against the backdrop of a global pandemic, among other “wicked problems” worldwide.

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Section: Discussion and Analysismentioning

confidence: 99%

Section: Discussion and Analysismentioning

confidence: 99%

Section: Discussion and Analysismentioning

confidence: 99%

Section: Outline Of Articlesmentioning

confidence: 96%

Section: Accounting As Financial and Non-financial Informationmentioning

confidence: 99%

See 3 more Smart Citations

COVID-19 and accounting as multidimensional technical, social and moral practice: a framework for future research

Carnegie

Gomes²,

McBride³

2023

MEDAR

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Accounting, ESG dynamics and the pandemic: when the quality of disclosure becomes crucial to sustainable success

Murgolo,

Tettamanzi,

Minutiello

2023

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Purpose This study aims to investigate the quality of disclosure of a cutting-edge reporting tool – integrated reporting (<IR>) – in terms of its effectiveness to report on COVID-19 pandemic information, its ability to provide forward-looking information and risk impact implications, and its quality determinants in challenging times. Design/methodology/approach Thanks to a content analysis of 247 <IR> for FY20, an integrated reporting disclosure score was developed to assess the disclosure quality provided by the sampled companies. Three research questions were tested through logistic regressions. Findings Non-financial disclosure activities struggle to provide adequate information in terms of potential future scenarios, risk assessment and forward-looking analyses. However, companies incorporated in “Anglo-Saxon” territories drafted integrated reports of higher quality. More recently, incorporated companies have made a greater effort to measure and report COVID-19 pandemic impacts on environmental, social and governance and business activities, also increasing their risk assessment and mitigation efforts. Concerning the determinants of disclosure quality, leverage, corporate governance structures, country of incorporation and belonging to “high impact” industries all lead to a higher quality of <IR> disclosure. Originality/value Examining in detail corporate social responsibility activities and corporate governance integrity is pivotal to orienting strategy towards sustainable trajectories: to do so, corporate reporting and disclosure practices are essential tools. In this context, corporate governance systems that emphasize board diversity are proven, even in disruptive circumstances, to play a crucial role in providing corporate reports of higher quality. High disclosure quality that goes beyond mere financial results is considered to be necessary to remain competitive strategically, socially and environmentally.

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Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approach

Chatpibal,

Chaiyasoonthorn,

Chaveesuk

2023

MEDAR

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Purpose This study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment. Design/methodology/approach Using a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future. Findings The iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO. Originality/value The study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale.

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Teaching the concept of decision-usefulness, and accounting as a technical, social and moral practice: the case of COVID-19 “case number” reporting

Cited by 7 publications

References 29 publications

COVID-19 and accounting as multidimensional technical, social and moral practice: a framework for future research

COVID-19 and accounting as multidimensional technical, social and moral practice: a framework for future research

Accounting, ESG dynamics and the pandemic: when the quality of disclosure becomes crucial to sustainable success

Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approach

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