Gidemy Elibray

Items

• The value-relevance of fair value measurement for inventories
  DATA AVAILABILTY STATEMENT : The data that support the findings of this study are available from Refinitiv. Restrictions apply to the availability of these data, which were used under licence for this study. The existence of the data that support the findings of this study can be verified at https://doi.org/10.25403/UPresearchdata.19845619. However, the underlying data are only available from the authors with the permission of Refinitiv.
• Why do South African companies not report more environmental information when managers are so positive about this kind of reporting?
  Previous research has highlighted a contradiction in regard to environmental reporting in South Africa. Managers, who can influence decisions regarding disclosure, express the view that more environmental reporting is needed, yet very little such reporting is done. A questionnaire was sent to every company listed on the Johannesburg Stock Exchange (JSE) with the request that the financial director should complete it. The questionnaire set out to establish whether managers are still as positive about environmental reporting as reported in previous research findings and, furthermore, to determine the reasons for the dearth of environmental reporting. Managers are still as positive as before about environmental reporting. The reasons for not reporting range from the contention that data is not available, that there are no legal requirements and that there is no demand for the data to the contention that it is not applicable to the particular industry and that costs exceed benefits. Most respondents do not regard the fear of liability to be a very important reason for non-disclosure. The most important reason for non-disclosure is that there is no legal requirement in respect of disclosure. This reason, together with the positive attitude of directors towards environmental reporting in general and towards reporting on a compulsory basis in particular, makes a strong case for the introduction of legislation in this regard. The introduction of legislation could be achieved by amending the Fourth Schedule of the Companies' Act or the introduction by The South African Institute of Chartered Accountants (SAICA) of a statement of Generally Accepted Accounting Practice (GAAP) on environmental disclosure.
• A review of accounting research in internationalising journals in the South African region
  BACKGROUND : This study analyses the accounting research articles published by South African journals. AIM AND SETTING : A review of accounting research in internationalising journals in the South African region that publish accounting research. METHODS : The characteristics of accounting articles were analysed. Five journals were analysed, including the four internationalising journals, Investment Analysts Journal, Meditari Accountancy Research, South African Journal of Business Management, and South African Journal of Economic and Management Sciences and one local journal, South African Journal of Accounting Research (SAJAR). RESULTS : The findings of this study will be of interest to journal editors, authors who would like their research to make an impact and be cited, as well as university research administrators and government higher education policy-makers. CONCLUSION : The analyses show that many of the highly cited articles have been published recently, boding well for the citation statistics of these journals in future and indicating some success in their efforts to internationalise. The citations of SAJAR lag behind the citations of the internationalising journals. Each journal publishes articles that cover different subject area(s). Within accounting research, accounting education and social and environmental accounting are popular areas of research, whereas taxation; the public sector; and management accounting are not well represented among published articles during 2015–2016 in these five journals. About half of all accounting articles claim their insights will contribute to the accounting literature, with much smaller percentages claiming to contribute to management, policymaking and practice. The most prolific authors and most prominent universities to some extent follow the most popular subject areas, with a social and environmental researcher, Warren Maroun, featuring strongly, and his university, the University of the Witwatersrand, being prominent. Large proportions of authors of 2015–2016 articles are from outside of Africa, speaking to the success of the internationalisation efforts of the internationalising journals, whereas SAJAR mostly publishes articles by African authors.
• The value-relevance of goodwill reported under IFRS 3 versus IAS 22
  The application of International Financial Reporting Standard (IFRS) 3, which became compulsory for financial periods beginning on or after 31 March 2004, significantly changed the initial and subsequent measurement of goodwill in annual reports. This change in the accounting treatment of goodwill was not universally accepted and there has been ongoing debate around the efficacy of the new goodwill treatment. This study uses a revised Ohlson-type value-relevance model (Ohlson, 1995) to examine the association between the goodwill balance reported and the market value of a company before and after the introduction of IFRS 3. The findings show that the goodwill balance reported according to IFRS 3 provides information that is more value-relevant than the previous International Accounting Standard (IAS) 22 treatment. In the light of the ongoing debate around the accounting treatment of goodwill, this study provides regulators and researchers with valuable information to further assess the efficacy of the IFRS 3 goodwill treatment.
• A (new) role for business-promoting the United Nations' sustainable development goals through the internet-of-things and blockchain technology
  We outline the business opportunity for the provision of measurement technology, linked to the internet, i.e. the internet-of-things (IoT), which feeds information into blockchains, providing reliable and trusted data and an incentive for others to contribute towards progress on the United Nations’ Sustainable Development Goals (SDGs). Both existing businesses and start-ups could exploit these new opportunities, which could inspire the participation of employees, volunteers, donors, and other participants. We provide a conceptual framework for the different ways business can play a role in facilitating measurement of SDGs, and trust in these measurements, by harnessing technology.
• A balance sheet approach versus an income statement approach to financial reporting
  In 1940 Paton and Littleton adopted two premises in their book "An Introduction to Corporate Accounting Standards" - first that periodic income determination was the central function of financial accounting and secondly that accounting was not in essence a valuation process but an allocation process ofhistorical costs and revenues to different periods. Thus the income statement approach to financial reporting was formally acknowledged, and the "buzz word" matching was developed.
• Integrated reporting : background, measurement issues, approaches and an agenda for future research
  We discuss the background to integrated reporting, a new reporting framework focused on firms’ future value creation narrative. We consider why integrated reporting is an area of interest for the accounting profession, accountants, investors, regulators and managers. We provide an overview of the integrated reporting literature, discuss measurement and research design issues to take into account when designing studies on integrated reporting and identify approaches and set an agenda for future research.
• The value-relevance of listed associates : a cross-country Investigation
  Prior research findings are not conclusive on whether or not equity accounted carrying amounts and disclosed fair values of listed associates are value-relevant in different countries. Using a variety of statistical methods, this study compares the value-relevance of disclosed fair values of listed associates in South Africa, the United Kingdom and Australia. It finds that value-relevance differs between sample countries, especially when firms in the globalised financial services and mining industries are excluded from the sample, despite increased convergence in accounting standards. This study contributes to the existing literature by directly comparing the cross-country value-relevance of disclosed fair values of listed associates. Findings highlight that generalisation of value-relevance findings across countries and industries should be done with caution.
• Tax avoidance and its relation to accounting conservatism
  Thesis (PhD (Accounting Sciences))--University of Pretoria, 2024.
• Qualitative research interviews using online video technology – challenges and opportunities
  PURPOSE : This study aims to examine the methodological and method-related challenges and opportunities arising from the use of video interviews in qualitative accounting research, focussed on collecting contextual data and visual cues, enriching communication quality and building and maintaining rapport with interviewees. DESIGN/METHODOLOGY/APPROACH : Prior literature and the authors’ experiences using video technologies for research, including conducting interviews, inform this research. This study uses a transactional conceptual refinement of information richness theory and channel expansion theory to critically analyse the challenges and opportunities of using video technology to conduct qualitative research interviews. FINDINGS : The ability, need for and significance of collecting contextual data depend on the researchers’ ontological and epistemological assumptions, and are, therefore, influenced by their research design choices. Video technology enables researchers to view research settings by video. In addition, whilst group/panel interviews have their advantages, it is often difficult to get everyone together in person, something video technology can potentially overcome. The feasibility and the quality of video interviews can be improved if both interview participants are experienced with using video technology, as well as with judicious investment in good quality video technology and through testing and practice. We also discuss how rapport building with interviewees can be facilitated by overcoming the video’s sense of disconnect and enhancing interviewees’ willingness to engage. ORIGINALITY/VALUE : The study builds on the limited prior literature and considers the challenges and opportunities related to methodology and method when conducting video-based qualitative interviews in accounting research. Broadly, qualitative researchers will find the paper useful in considering the use of video interviews and in making research design choices appropriate for video interviews.
• Report back
  The 18th annual congress of the European Accounting Association was held on 10 - 12 May 1995 in Birmingham in the United Kingdom. A total of 750 delegates from 51 different countries attended the congress and more than 300 papers were presented. Seven representatives from South Afiica attended the congress of whom five presented papers. Three of them were postgraduate students of the Department of Accounting, University of Pretoria.
• Factors contributing toward student performance in a distance education accounting degree
  PURPOSE – The purpose of this paper is to examine the effects of five determinates of performance in students (N 677) who completed three years of financial accounting to obtain a Bachelor of Accounting Science (BCompt) degree by distance education through the University of South Africa. DESIGH / METHODOLOGY / APPROACH – Regression analysis is used on three yearly measures of performance with five independent variables (age, gender, prior accounting knowledge, mathematics background and academic aptitude). FINDINGS – Results show that mathematics background and academic aptitude are both significantly associated with student performance, throughout the financial accounting subjects. Prior accounting knowledge is also important in the first year of study but not thereafter. RESEARCH LIMITATIONS / IMPLICATIONS – Prior research has found that other factors may influence student performance, and future studies which include these variables will add to these findings. PRACTICAL IMPLICATIONS – The results of this study have important implications for instructors, students and career advisers, particularly as research linking various factors with performance in accounting subjects over the length of a degree is limited. ORIGINALITY / VALUE – The current study considers the determinants of student performance over three financial accounting years (rather than one year or one subject) and from a distance education perspective. As distance education becomes a more important delivery method of study in the future, these results have important implications.
• The institutionalisation of mining company sustainability disclosures
  This paper reports the analyses of the social and environmental disclosures of listed South African mining companies and compares the disclosures of larger companies with those of smaller companies using several different categories of comparison. The prior literature suggests that larger companies almost invariably disclose more social and environmental information due to their greater visibility. The expected differences are found in social disclosures, but not in environmental disclosures. An institutional theory framework explains these unexpected environmental disclosure findings. Specifically, normative isomorphism, usually driven by professionalization, becomes more prominent when a field reaches maturity and the field of corporate environmental disclosures among mining companies has reached a level of maturity and professionalization causing disclosures to be similar. These similarities have now reached the stage where small companies disclose the same amount of environmental information, in the same general format, as large companies.
• Web conferencing-based tutorials : student perceptions thereof and the effect on academic performance in accounting education
  This study explores undergraduate accounting students’ perceptions of web conferencing-based tutorials, in a developing country, South Africa. In addition, this study explores the effect of these tutorials on academic performance. Understanding the perceptions of students regarding the effectiveness of using web conferencing is both influential and critical to the success or failure of the integration of web conferencing in accounting education. In general, attendance of web conference-based tutorials was found to positively and statistically significantly impact the students’ academic performance, and the majority of the respondents agreed that regularly attending the web conferences and connecting with instructors improve their academic performance. These findings offer support for the continued use of web conferencing as a beneficial teaching and learning intervention. While this study is limited to a single site, the positive results of this study may encourage other instructors to explore web conferencing tutorials and enable subsequent multiple site investigations.
• Financial performance of environmentally responsible South African listed companies
  The problem investigated is whether there is a positive relationship between the environmental responsibility and the financial performance of South African listed companies. The financial performance measures ROE, ROA, ROC and EVA were individually correlated with the environmental reporting percentages (i.e. the measure for environmental responsibility) for all the companies. Based on the results of the correlation analyses, it is concluded that there is a positive relationship between the environmental responsibility and the financial performance of South African listed companies; i.e. the higher the level of environmental responsibility of a company, the better its financial performance.
• Fair value measurements of exchange-traded funds
  PURPOSE : To investigate the extent to which different prices within the bid-ask spread are used for fair value measurements and evaluate the potential consequences thereof. DESIGN/METHODOLOGY/APPROACH : The paper investigates different level one fair value measurements of exchange-traded funds’ equity investments. Using descriptive methods, it compares actual and stated fair value measurement policies. In addition, comparative value-relevance of these measurements is investigated in regression analysis. FINDINGS : Most fair value measurements are based on closing prices, but stated accounting policies and actual measurements frequently differ. Results also show that the bid-close spread of underlying investments is value-relevant in determining the bidclose spreads of ETFs themselves. RESEARCH LIMITATIONS/IMPLICATIONS : Findings are specific to unleveraged ETFs, the sample country and sample period used and only apply to investments in listed equities. Conclusions from this study may assist in predicting market perceptions of the risk of listed equity portfolios. PRACTICAL IMPLICATIONS : This paper sheds light on the practical impact of the recent change in fair value measurement guidance. ORIGINALITY/VALUE : This study provides evidence on the size of the bid-ask spread of actual investment portfolios and its potential impact. It shows that bid-close spreads of underlying investments are used to price the bid-close spreads of ETFs themselves and that stated and actual accounting policies often differ. Findings imply that standardsetters might be influenced by actual accounting practices.
• The institutionalisation of corporate social responsibility reporting
  This study examines corporate social responsibility reporting (CSRR) structures through a comparison of the disclosures in two countries with different social issues. The analysis is guided by a focus on the legitimisation offered by isomorphism. We compare the 2007 annual report and website (including standalone report) CSRR of a matched sample of 18 Australian and 18 South African mining companies. Among the 30 comparisons of disclosure patterns, 29 show no difference. We also provide examples of specific disclosures that show a remarkable level of similarity in CSRR and in the CSRR management structures adopted in the two countries. Our findings show similar overall patterns of CSRR in diverse settings, while differences in CSRR content at a more detailed level remain. For example, companies refer to the applicable national regulations and rules; as well as to their specific local communities. These findings provide evidence that the same reporting templates are used in CSRR globally. There is evidence to suggest that CSRR is institutionalised through professionalization and other means, suggesting a need to interpret CSRR characteristics and patterns as a reflection of global CSRR templates. Management intent or company-specific characteristics, such as social and environmental performance, do not necessarily drive CSRR patterns.
• A review of accounting research in Australasia
  This study examines recent accounting research published in 10 journals led by New Zealand and Australia based editors, namely: Abacus; Accounting and Finance; Accounting Forum; Accounting History; Accounting, Auditing and Accountability Journal; Australian Accounting Review; International Journal of Auditing; Meditari Accountancy Research; Pacific Accounting Review; and Qualitative Research in Accounting and Management. The paper identifies the most cited recent articles (2015–2017), and the most prolific authors, universities and geographical regions. It then reveals trends in research areas and relevance of recent accounting articles. The paper discusses the importance of the Australian Business Deans Council journal quality list in facilitating novel and relevant research, and recommends the integration of citation metrics into its ratings methodology.
• Fund accounting by non-profit entities
  Many non-profit entities set aside specific amounts of money received from third parties exclusively aimed at achieving a certain objective. The initial fund capital is generally kept intact and utilised to generate additional income for the fund and not distributed to any beneficiaries. Such a fund is referred to as a special purpose fund, distinguishing it from the general or equity fund of the non-profit entity. In accounting for the fund the argument exists that non-profit entities need not apply Statements of Generally Accepted Accounting Practice (GAAP) but merely their own generally accepted accounting practice. In terms of Circular 5/2003 issued by SAICA, as well as the legal opinion obtained by SAICA per Circular 8/1999, in order to meet the requirements of the Companies Act GAAP must be applied. Even if GAAP is not legally enforceable, the Framework for Preparation and Presentation of Financial Statements should be considered.
• A fraud auditing approach for the regulator to detect investment fraud schemes
  Dissertation (MPhil)--University of Pretoria, 2011.
• Accounting for arrangements - Part 1
  Based on the substance over form principle, transactions that in substance transfer the right to use an asset for an agreed period of time, in return for a series of payments, are accounted for as a lease transaction in terms of IAS 17 (AC 105), irrespective of the legal form of the arrangement. The International Financial Reporting Interpretations Committee and the Standards Interpretation Committee have issued two documents that provide more guidance on the application of the substance over form principle in the case of leases, namely: 1. IFRIC 4, Determining whether an Arrangement contains a Lease, and 2. SIC 27, Evaluating the Substance of Transactions Involving the Legal Form of a Lease. IFRIC 4 poses the question whether all transactions that are in substance leases are accounted for in terms of IAS 17 (completeness of lease transactions). IFRIC 4 therefore requires those who prepare financial statements to consider all supply and service agreements that are legally not leases, in order to determine whether they are in substance lease arrangements. SIC 27, on the other hand, poses the question whether all transactions that take the legal form of a lease are actually, in substance, lease transactions that should be accounted for in terms of IAS 17.
• Determinants of environmental investment : evidence from Europe
  This study investigates the corporate governance determinants of environmental investment in European firms. Using a sample of firms listed on the Bloomberg European Index 500 from 2001 to 2015, this study finds that firms with more independent directors, and female directors, are likely to invest more in the environment. It also finds that environmental investment is likely to be higher in firms with an environmental sub-committee of the board. Finally, this study documents that firms with CEO bonus plans linked to environmental compliance/performance are likely to incur higher environmental investment. The findings are robust to several alternative measures and methods. The findings of this study made a significant contribution to the environmental investment literature by adopting a quantifiable and non-biased monetary measure of environmental investment. Moreover, this study contributes to the literature by providing generalizable empirical evidence for a significantly positive association between a range of corporate governance characteristics and the level of environmental investment. Therefore, the findings of this study have practical implications to institutional investors.
• The integrity of information created through book entries
  We know more about the past than about the future. Accounting information and knowledge of the past come from the fact that the methods we use to arrive at beliefs about the past are generally more reliable than those generating predictions of the future. Because future uncertainty is linked to the arrow of time, its increase coincides with the flow of time from the past and present to the future. To facilitate and decrease uncertainty, accountants produce an ever-increasing amount of future-oriented information through the use of inter alia book entries. The integrity issues of this method of information creation are investigated in this article. It is found that the integrity of information may be affected when book entries are used.
• How can NGO accountability practices be improved with technologies such as blockchain and triple-entry accounting?
  PURPOSE : The purpose of this paper is to explore how blockchain and triple-entry accounting technologies may improve non-governmental organisation (NGO) accountability by amplifying the social and economic outcomes of aid. It also provides a critique of these technologies from an accountability perspective. DESIGN/METHODOLOGY/APPROACH : An in-depth case study of a large NGO, relying on semi-structured interviews, document analysis and non-participant observation, provides an understanding of current issues in existing NGO accountability and reporting systems. A novel case-conceptual critical analysis is then used to explore how blockchain and triple-entry accounting systems may potentially address some of the challenges identified with NGO accountability. FINDINGS : An empirical case study outlines the current processes which discharge accountability to a range of stakeholders, emphasising how “upward” accountability is privileged over other forms. This provides a foundation to illustrate how new technology can improve upward accountability to donors by enabling more efficient, accurate and auditable record-keeping and reporting, creating space for an NGO to focus on horizontal accountability to partner organisations and downward accountability to beneficiaries. Greater accountability exposes NGOs to diverse views from partner organisations and beneficiaries, potentially enhancing opportunities for learning and growth, i.e. greater impact. However, blockchain and triple-entry accounting can also create “over-accounting” and further entrench the power of upward stakeholders, such as donors, if not implemented carefully. RESEARCH LIMITATIONS/IMPLICATIONS : A novel case-conceptual critical analysis furnishes new insights into how existing NGO accountability systems can be improved with technology. Despite the growing excitement about the possibilities of blockchain and triple-entry accounting systems, this paper offers a critical reflection on the limitations of these technologies and suggests avenues for future research. PRACTICAL IMPLICATIONS : Examples of how blockchain and triple-entry accounting systems can be integrated into NGO systems are presented. This research also raises the importance of creating a strong nexus between humans and technology, which ensures that “socialising” forms of accountability that empower vulnerable stakeholders, are embedded into international aid. ORIGINALITY/VALUE : This research provides insight into present challenges with NGO accountability, using empirical evidence, furnishing potential solutions using novel blockchain and triple-entry accounting systems. Greater accountability to partner organisations and beneficiaries is important, as it potentially enables NGOs to learn how to be more impactful. Therefore, this paper introduces rich, contextually embedded perspectives on how NGO managers can exploit such technologies to enhance accountability and impact.
• The mandatory adoption of International Financial Reporting Standards and financial statement comparability : South African evidence
  Thesis (PhD)--University of Pretoria, 2017.