A Chaotic field of practice: Financial reporting of the Library collections of Australia's public Universities, 2007-2011
- Authors: Carnegie, Garry , Sidaway, Shannon , West, Brian
- Date: 2013
- Type: Text , Journal article
- Relation: Australian Academic and Research Libraries Vol. 44, no. 4 (2013), p. 195-216
- Full Text: false
- Reviewed:
- Description: The accounting practices adopted by Australia's 36 public universities in accounting for their library collections - including heritage and special collections - are identified and analysed. The data is collected from a survey of these institutions' annual reports over the period 2007 to 2011 and the analysis is guided by theoretical perspectives drawn from new institutional sociology (NIS). Consistent with prior research by West and Carnegie (2010), accounting for university library collections is depicted as a chaotic field of practice. Inconsistent and idiosyncratic policies that compromise the overall reliability, comparability and usefulness of university financial reports are observed, along with instances of dramatic valuation adjustments. However, the beginnings of some amelioration of the chaos are also detected, as regulatory activity and a voluntary homogenisation of accounting policies begin to take effect. In particular, a general trend towards more conservative accounting practices is evident as universities perhaps seek to guard against accounting debacles - most notably massive valuation write-downs - of the kind that have been suffered by several institutions over the last decade. Assigning financial values to the library collections and other non-financial resources of not-for-profit public institutions remains a problematic issue. © 2013 Australian Library & Information Association.
- Description: The accounting practices adopted by Australia's 36 public universities in accounting for their library collections - including heritage and special collections - are identified and analysed. The data is collected from a survey of these institutions' annual reports over the period 2007 to 2011 and the analysis is guided by theoretical perspectives drawn from new institutional sociology (NIS). Consistent with prior research by West and Carnegie (2010), accounting for university library collections is depicted as a chaotic field of practice. Inconsistent and idiosyncratic policies that compromise the overall reliability, comparability and usefulness of university financial reports are observed, along with instances of dramatic valuation adjustments. However, the beginnings of some amelioration of the chaos are also detected, as regulatory activity and a voluntary homogenisation of accounting policies begin to take effect. In particular, a general trend towards more conservative accounting practices is evident as universities perhaps seek to guard against accounting debacles - most notably massive valuation write-downs - of the kind that have been suffered by several institutions over the last decade. Assigning financial values to the library collections and other non-financial resources of not-for-profit public institutions remains a problematic issue. © 2013 © 2013 Australian Library & Information Association.
Accounting's chaotic margins : Financial reporting of the library collections of Australia's public universities, 2002-2006
- Authors: West, Brian , Carnegie, Garry
- Date: 2010
- Type: Text , Journal article
- Relation: Accounting, Auditing and Accountability Journal Vol. 23, no. 2 (2010), p. 201-228
- Full Text: false
- Reviewed:
- Description: Purpose: The purpose of this paper is to explore the circumstances and implications of an episode of accounting change arising from the extended use of accrual accounting within the Australian public sector. The matter under scrutiny is the reporting of the library collections of Australia's public universities as assets in general purpose financial reports. Design/methodology/approach: A survey is undertaken of the annual reports of Australia's 36 public universities for the period 2002 to 2006. The analysis of the findings is informed by new institutional sociology (NIS), with a focus on mimetic processes, and the concept of "accounting's margins". Findings: The survey reveals considerable diversity and subjectivity in the accounting practices adopted, as well as instances of sudden and dramatic changes in carrying values. The financial reporting of library collections is depicted as a "chaotic margin" of accounting, and the technical propriety of attempting to express and account for these non-financial resources in financial terms is rendered problematic. Originality/value: The study questions the reliability and usefulness of the information reported, with implications for the accountability of the institutions surveyed as well as the accounting profession in the comparatively neglected domain of the public sector. © Emerald Group Publishing Limited.
Accounting’s chaotic margins : Financial reporting of the library collections of Australia’s public universities
- Authors: West, Brian , Carnegie, Garry
- Date: 2007
- Type: Text , Conference paper
- Relation: Paper presented at 2007 AFAANZ Conference, The Gold Coast, Queensland : 1st-3rd July 2007
- Full Text: false
- Description: This paper explores the circumstances and implications of an episode of accounting change arising from the extended use of accrual accounting within the Australian public sector. The matter under scrutiny is the financial reporting of the library collections of Australia’s public universities. Accounting standards applying within the Australian public sector may be interpreted as requiring such collections to be accounted for as assets in the statements of financial position of the entities that manage them. A survey reveals considerable diversity and subjectivity in the accounting practices adopted in seeking to satisfy this requirement. Consideration is given to possible explanations for the disorderly state of practice observed, and questions raised regarding the reliability and usefulness of the information reported. The financial reporting of library collections is depicted as a “chaotic margin” of accounting, and the technical propriety of attempting to express and account for these non-financial resources in financial terms is rendered problematic.
- Description: 2003005170