Administrator's reports: looking for best practice

Article Abstract:

Voluntary administration has been part of Australia's corporate insolvency law governing bankruptcy since 1993, and the Insolvency Practitioners Association of Australia has been developing best practices guidelines for this type of bankruptcy accounting. The incorporation of details and other opinions, historical financial results, and estimated returns to creditors are among the practices to be considered. The independence of the administrator in the voluntary administration process is also considered to be of absolute importance.

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Innovations in management accounting

Article Abstract:

Many Australian companies have adopted innovative management accounting systems in addition to traditional techniques to provide relevant information in manufacturing situations. Balanced scorecards, key performance indicators, integrated budgeting, benchmarking, and activity based costing and management are included in new management accounting systems. Cycle time, items reworked, and number of defects are some of the non-financial items used in innovative managerial accounting systems.

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Accounting for crops

Article Abstract:

Issues are presented concerning the inclusion of 'living assets' on the balance sheets of corporate financial reports. The allocation of value to 'living assets' during each financial year rather than at realization is discussed.

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