Publications

Pazmandy, G 2006, Applied Business Computing Using Microsoft Applications, Tekniks Publications, Vaucluse, NSW.
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Summary: Software applications covered include the Windows Operating System, Internet Explorer, Word, Excel Spreadsheet, PowerPoint, and Access database.

Pazmandy, G 2006, MYOB Version 15 A Practical Guide to Computer Accounting.

Lai, C, Stokes, D & Taylor, SL 2006, 'Accounting & audit quality surveillance: a working solution for regulators & exchanges' in Skeete, H (ed), The Handbook of World Stock, Derivatives & Commodity Exchanges, Mondo Visione, Knebworth, UK, pp. 69-70.

Brown, PR, Ferguson, AC & Stone, K 2006, 'Share purchase plans', JASSA, vol. 1, no. Autumn, pp. 18-23.
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By mid-2005, share purchase plans (SPPs) had been used 600 times by 400 listed Australian companies since PPs were introduced in 1991. This form of seasoned equity offering (SEO), is available only to registered shareholders, with the shares being offered at a discount to the market price and without any brokerage charge.

BUGEJA, M 2006, 'Independent Expert Valuations in Takeovers: Are They Biased?', Australian Accounting Review, vol. 16, no. 39, pp. 19-24.
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The predictability of the opinions provided in expert reports produced in Australian takeovers has led repeatedly to public criticism. This study assesses the validity of this criticism by comparing expert valuations with the recommendations of target firm directors. The results indicate that expert valuations typically agree with directors' recommendations, with the rate of agreement being 95% for reject recommendations. Consistent with expert valuations provided in rejected takeovers being inflated, these bids are associated with similar premiums to accepted bids. Additionally, rejected offers that succeed do so at well below the expert's valuation, and prices in unsuccessful rejected offers do not increase towards the expert's valuation. Excluding bias, other possible explanations are that experts in rejected bids are genuinely over-optimistic about the prospects of these firms. Alternatively, these valuations may be structured to pressure the existing bidder into raising its offer, irrespective of whether it actually raises the price above their valuation. The results of this study are consistent with this strategy being successful, with the offer price being revised in 61% of rejected takeovers. Another possibility is that expert valuations in rejected bids are designed to encourage a competing bidder.

Bugeja, M & Gallery, N 2006, 'Is Older Goodwill Value Relevant?', Accounting and Finance, vol. 46, no. 4, pp. 519-535.
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Although previous research has generally found that goodwill reported in firms' financial reports is relevant to equity valuation, no known studies have directly examined whether the value-relevance of purchased goodwill holds as it ages. We examine this issue in the Australian context to determine whether the market attaches different values to the components of Australian firms' goodwill when it is disaggregated into different 'ages'. Our results suggest that recently acquired goodwill has information content whereas 'older' goodwill does not. Our findings have implications for goodwill accounting practice and recent changes to goodwill accounting standards

CARSON, E, FERGUSON, A & SIMNETT, R 2006, 'Australian Audit Reports: 1996-2003', Australian Accounting Review, vol. 16, no. 38, pp. 89-96.
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In 1996 Australia revised audit reporting standard AUS 702 to align with many of the concepts in the international audit reporting standard ISA 700. These included preventing auditors issuing a “subject to” qualified opinion, and permitting auditors to modify the audit report in specific circumstances by including an emphasis of matter (EoM) paragraph. This research examines the frequency with which different types of opinions are issued and the circumstances giving rise to the inclusion of an EoM paragraph, and compares the types of opinions issued by the major audit firms and for the various industry sectors over the period 1996-2003. © 2006 CPA Australia.

Ferguson, AC, Francis, JR & Stokes, DJ 2006, 'What matters in audit pricing: industry specialization or overall market leadership?', ACCOUNTING AND FINANCE, vol. 46, no. 1, pp. 97-106.
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Ferguson et al. (2003) report that audit industry fee premia primarily reside with joint national and city-specific industry leadership as opposed to merely firm-wide (national) industry expertise, suggesting auditor choice among the Big 5 is best conceptualized on joint industry specialization in city-specific markets and nationally. The present study examines whether the prior results could be confounded by the presence of city-specific overall market leadership effects. Our findings reaffirm that joint local and national auditor industry expertise is valued by audit clients. Furthermore, overall city-specific leadership, by itself, also matters in fee determination and results in higher fees, although at a slightly weaker level of statistical significance. © 2006 AFAANZ.

Lee, PJ, Taylor, SJ & Taylor, SL 2006, 'Auditor Conservatism and Audit Quality: Evidence from IPO Earnings Forecasts', International Journal of Auditing, vol. 10, no. 3, pp. 183-199.
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We investigate the relation between a proxy for differential audit quality and both the (ex post) accuracy and conservatism of audited earnings forecasts provided in Australian initial public offering (IPO) prospectuses. For the period we examine, most Australian IPO prospectuses include an earnings forecast (i.e., disclosure is not 'voluntary'), and the auditor must be satisfied prior to signing off on the prospectus. After controlling for other factors associated with forecast error, there is some evidence that forecasts audited by Big 6 auditors prove more accurate than those audited by a non-Big 6 auditor, although this result is not robust across alternative measures of forecast accuracy. In contrast, our finding of significantly less optimistic bias for forecasts associated with Big 6 auditors is robust to alternative measures of forecast bias. We interpret these results as being consistent with the argument that the economic demand for differential audit quality reflects the same factors that underlie the demand for conservative financial reporting

Rawlings‐Way, O 2006, 'Thích Nh'Ât Hanh: Finding Our True Home – Living in The Pure Land Here and Now; Thích Nh'Ât Hanh: Joyfully Together – The Art of Building a Harmonious Community', Journal of Religious History, vol. 30, no. 2, pp. 267-269.
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Rawlings‐Way, OMF 2006, 'Karma Lekshe Tsomo, ed.: Buddhist Women and Social Justice: Ideals, Challenges, and Achievements', Journal of Religious History, vol. 30, no. 2, pp. 262-263.
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Wieder, B, Booth, P, Matolcsy, ZP & Ossimitz, M 2006, 'The impact of ERP systems on firm and business process performance', Journal of Enterprise Information Management, vol. 19, no. 1, pp. 13-29.
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PurposeThe purpose of this article is to provide further insights into the adoption of enterprise resource planning (ERP) systems and the impacts on organisational performance. It aims at challenging existing claims of ERP vendors with regard to the benefits of their products and at providing evidence of the benefits of bundling ERPS with supply chain management systems.Design/methodology/approachA survey was conducted to collect data on several aspects of organisational performance in companies that adopted ERPS and/or SCMS and the respective control groups. Financial key performance indicators were used to measure overall firm performance and the supply‐chain operations reference model to operationalise performance at the business process (supply chain) level.FindingsThe key results contradict the claims of ERPS vendors insofar as no significant performance differences were found between ERPS adopters and non‐adopters, either at the business process level, or at the overall firm level. While it could be confirmed that the longer the experience of firms with ERPS, the higher their overall performance, no evidence was found of a similar effect on business process (supply chain) performance. Only those ERPS adopters that also adopted SCMS achieved significantly higher performance at the business process level.Originality/valueDespite the small size of the SCMS user sample, the results do provide some important insights into the relationships between ERPS, SCMS and performance which might encourage both researchers and practitioners in that field to critically reflect on the “optimal” mix of modules an...

Baker, ML, Brown, DA & Malmi, T 1970, 'Implementing environmental strategy with an MCS package', 29th EAA Annual Conference, Annual Congress of European Accounting Association, EAA, Dublin, Ireland, pp. 1-35.

Bedford, DS, Brown, DA & Malmi, T 1970, 'Balanced scorecard content, use, and performance impacts: some Australian evidence', AFAANZ Annual Conference 2006, Accounting and Finance Association of Australia and New Zealand Conference, AFAANZ, Wellington, New Zealand, pp. 1-19.

Bedford, DS, Brown, DA & Malmi, T 1970, 'Balanced scorecard content, use, and performance impacts: some Australian evidence', 29th EAA Annual Conference, Annual Congress of European Accounting Association, EAA, Dublin, Ireland, pp. 1-18.

Bedford, DS, Sivabalan, P, Brown, DA & Malmi, T 1970, 'Balanced scorecard content, use, and performance impacts: some Australian evidence', Accounting and Finance Association of Australia and New Zealand (AFAANZ), Wellington, New Zealand.

Sivabalan, P, Booth, PJ, Malmi, T & Brown, DA 1970, 'Alternative reasons to budget, firm and budgetary characteristics, and firm performance', AFAANZ Annual Conference 2006, Accounting and Finance Association of Australia and New Zealand Conference, AFAANZ, Wellington, New Zealand, pp. 1-34.

Sivabalan, P, Booth, PJ, Malmi, T & Brown, DA 1970, 'Further evidence on the impact of reasons-to-budget on budget importance and performance', 29th EAA Annual Conference, Annual Congress of European Accounting Association, EAA, Dublin, Ireland, pp. 1-45.

Stokes, D, Taylor, SL, Hamilton, JM & Ruddock, C 1970, 'Audit partner rotation and earnings quality', American Accounting Association 2006 Annual Meeting, American Accounting Association Annual Meeting, American Accounting Association, Washington, USA.

Stokes, D, Taylor, SL, Hamilton, JM & Ruddock, C 1970, 'Audit partner rotation and earnings quality.', Eeuropean Accounting Association Annual Meeting, Dublin, Ireland.

Sundin, HJ, Granlund, M & Brown, DA 1970, 'Multiple objectives, management control systems, and the balanced scorecard: an exploratory case study', AFAANZ Annual Conference 2006, Accounting and Finance Association of Australia and New Zealand Conference, AFAANZ, Wellington, New Zealand, pp. 1-40.

Brown, DA, Malmi, T, Bedford, DS, Matolcsy, ZP & Sivabalan, P CPA Australia 2006, The balanced scorecard in Australia, Melbourne, Australia.

Sivabalan, P, Matolcsy, ZP, Brown, DA & Malmi, T CPA Australia 2006, Budgetary practices of Australian companies, Melbourne, Australia.

Baker, ML, Brown, DA & Malmi, T 2006, 'Implementing environmental strategy with an MCS package (Acct paper #78)', School of Accounting Working Paper Series.

Bedford, DS 2006, 'Management control systems: Configurations and equifinality (Acct paper #84)', UTS.

Brown, DA, Malmi, T & Booth, PJ 2006, 'Loose coupling theory - An analytical framework for management control system packages and field based implications (Acct paper #89)', School of Accounting Working Paper Series.

Clinch, GJ & Czernkowski, RM 2006, 'Generation of private signals by analysts (Acct paper #77)', School of Accounting Working Paper Series.

Sundin, HJ, Granlund, M & Brown, DA 2006, 'Multiple objectives, management control systems, and the balanced scorecard: an exploratory case study (Acct paper #80)', School of Accounting Working Paper Series.