The Routledge Handbook of Public Sector Accounting explores new developments and transformations in auditing, management control, performance measurement, risk management and sustainability work in the contemporary world of the public sector and the functioning of accounting and management in that realm. It focuses on critical analysis and reflection with respect to changing risk and crisis management patterns in the public sector in the current Covid- 19 and post- Covid- 19 era, across diverse social, political and institutional settings globally. This research-based edited book, targeted at scholars, professionals, teachers and consultants inthe fields of public sector accounting, auditing, accountability and management, offers high-level insights into the new architecture and execution of such activities in the emerging post-pandemic world. The chapters are written by leading scholars in the accounting and public administration disciplines internationally and provide important assessments, frameworks and recommendations concerning a wide variety of institutions, practices and policies with a view to addressing the many emerging societal, governmental and professional issues. Spanning theoretical, empirical and policy discussion contributions, the book's chapters will be readily accessible to accounting, auditing and management audiences alike.
There is a growing body of work on accountability in the accounting literature. However, most of the existing literature focuses on the concepts of accountability rather than its practice. Accounting literature suggests that understanding accountability is important and significant for public sector accounting, which is built around the notion of accountability. There are two major but inter-related influences on accountability thinking in accounting. The first is the new public management (NPM) literature, and the second has been the distinction between individualising and socialising forms of accountability. The NPM theories stress a struggle between multiple concepts of accountability, such as financial, managerial, legal, public, political and constitutional. This theoretical struggle in the literature has made accountability more confusing, complex, contradictory and different. To overcome this, some scholars point towards a need to go beyond the conceptual struggle and to focus more on the practice. Hence, the research problem focuses on the practice of accountability in the public sector and how this informs our academic understanding of accountability. This study is motivated by several factors: (i) the importance and significance of accountability for public sector accounting; (ii) the struggles between multiple concepts of accountability in the literature; (iii) the scarcity of practice research on accountability; (iv) the paucity of empirical research of the role of accounting in those practices, and (v) the inability of existing theoretical frameworks to explain accountability comprehensively. Motivated by these factors, I examined the practices of accountability in the Australian Public Sector (APS) and explored the role of accounting in those practices. Drawing on Bourdieu's practice theory, an analytical framework was developed. This framework allowed me to focus on: (i) the relational and differential character of accountability; (ii) the conceptualisation of the public sector as a network of multiple fields; (iii) the expectation of different practices of accountability in those fields; and (iv) the ways in which accounting came to be implicated in those practices. Based on Bourdieu's sequential field study methods, data was collected from 103 interviews with public servants who were employed at different levels and professional or functional groups from 34 federal government organisations in Canberra, Australia. Overall data was collected from multiple sources, such as interviews, conversations, observations, focus group discussions and review of a wide range of documents. The major conclusions of this study are that: (i) there is little difference in the practices of accountability between different organisations, professional or functional groups, and hierarchical positions; (ii) accountability has become a compliance activity with accounting processes supported by accounting logic; (iii) while accounting became a form of symbolic capital in the public sector field the accountants or accounting profession lost cultural capital; and (iv) management accounting has the potential to improve accountability for performance in the public sector. I argue that accountability in the public sector should be more than just financial, and the current financial accounting and reporting based accountability practices have increased compliance acitivites, but failed to achieve the desired outcomes or impact to enhance public benefit. Therefore, how the public sector engages with the practices of accountability should be the focus of public sector accounting and reform studies, rather than the normative, descriptive and theoretical struggles of what accountability is and how it should be understood. Keywords: Accounting, Accountability, Australian Public Sector, New Public Management, Performance Measurement, Financial and Non-Financial Information, Compliance Processes, Bourdieu, Habitus, Field, Social Spaces, Capital, Strategy, Doxa.
This handbook collects the most up-to-date scholarship, knowledge, and new developments of big data and data analytics by bringing together many strands of contextual and disciplinary research. In recent times, while there has been considerable research in exploring the role of big data, data analytics, and textual analytics in accounting, and auditing, we still lack evidence on what kinds of best practices academics, practitioners, and organizations can implement and use. To achieve this aim, the handbook focuses on both conventional and contemporary issues facing by academics, practitioners, and organizations particularly when technology and business environments are changing faster than ever. All the chapters in this handbook provide both retrospective and contemporary views and commentaries by leading and knowledgeable scholars in the field, who offer unique insights on the changing role of accounting and auditing in todays data and analytics driven environment. Aimed at academics, practitioners, students, and consultants in the areas of accounting, auditing, and other business disciplines, the handbook provides high-level insight into the design, implementation, and working of big data and data analytics practices for all types of organizations worldwide. The leading scholars in the field provide critical evaluations and guidance on big data and data analytics by illustrating issues related to various sectors such as public, private, not-for-profit, and social enterprises. The handbooks content will be highly desirable and accessible to accounting and non-accounting audiences across the globe. .
In the era of digital transformation, the healthcare industry stands at a significant crossroad. With Value-Based Healthcare (VBHC) at the core of this transition, the role of accountants is evolving dramatically. This book brings these pieces together to guide accountants and interested readers through the changing landscape.
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Purpose The purpose of this paper is to, the first of its kind, investigate the relationship between the intellectual capital efficiency and organisational performance of the pharmaceutical sector in Bangladesh, an emerging economy that enjoys Trade-Related Aspects of Intellectual Property Rights (TRIPS) relaxation.
Design/methodology/approach The study used hand-picked data from annual reports for five years. The relationship between efficient use of intellectual capital and corporate performance was examined through the practical use of human capital, structural capital and capital employed. Multiple regressions were used to assess their impact on financial performance – specifically, return on assets, return on equity, asset turnover and market-to-book value.
Findings Value-added intellectual coefficient components (i.e. human capital, structural capital and capital employed) significantly explained asset turnover and return on assets but failed to predict the return on equity outcome. Additionally, asset turnover was negatively influenced by structural capital and positively influenced by capital employed. The return on assets was mostly affected by variation in human capital. Intellectual capital did not predict market-to-book value or investment decisions.
Practical implications This paper provides useful resources for evaluating the financial performance and value creation of companies in emerging economies that enjoy TRIPS exemptions; this research could also be extended using cross-industry comparisons. The findings have theoretical and practical implications, particularly for the pharmaceutical industry in emerging economy contexts, and for managers globally.
Originality/value This study is among only a few that have reported on the relationship between intellectual capital efficiency and value creation in emerging economy contexts.
We use machine learning with a cross-sectional research design to predict governance controversies and to develop a measure of the governance component of the environmental, social, governance (ESG) metrics. Based on comprehensive governance data from 2,517 companies over a period of 10 years and investigating nine machine-learning algorithms, we find that governance controversies can be predicted with high predictive performance. Our proposed governance rating methodology has two unique advantages compared with traditional ESG ratings: it rates companies' compliance with governance responsibilities and it has predictive validity. Our study demonstrates a solution to what is likely the greatest challenge for the finance industry today: how to assess a company's sustainability with validity and accuracy. Prior to this study, the ESG rating industry and the literature have not provided evidence that widely adopted governance ratings are valid. This study describes the only methodology for developing governance performance ratings based on companies' compliance with governance responsibilities and for which there is evidence of predictive validity. ; Funding information: Stiftelsen Länsförsäkringsbolagens Forskningsfond, Grant/Award Number: P 18/08
