Sector bending' and conceptual challenges in the financial reporting of early childhood education centres.

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dc.contributor.authorCordery, C.
dc.contributor.authorNarraway, G.
dc.date.accessioned2012-09-17T01:44:49Z
dc.date.available2012-09-17T01:44:49Z
dc.date.issued2007
dc.description.abstractIn July 2006, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued a discussion document , Preliminary Views on an Improved Conceptual Framework for Financial Reporting (Preliminary Views) recommending that financial reporting have a singular objective : decision usefulness (IASB, 2006). It is the objective of this paper to make an academic case for a reconsideration of the IASB and FASB's Preliminary Views on the objective of financial reporting, specifically in light of the myriad profit-oriented and not-for-profit entities that contract with Government to provide social services. The paper uses an example of the early childhood education sector in New Zealand to show that the manner in which these entities deliver care blurs the line between sectors and brings demands from users for accountability as an objective of financial reporting. It is suggested that it is inadvisable for the IASB and the FASB to leave their consideration of this second objective of financial reporting until the final phase of their project.
dc.identifier.citationCordery, C., & Narraway, G. (2007). 'Sector bending' and conceptual challenges in the financial reporting of early childhood education centres. In Accounting and Finance Association of Australia and New Zealand, Brisbane, Australia.
dc.identifier.urihttp://hdl.handle.net/11072/516
dc.language.isoen
dc.subjectConceptual frameworks
dc.subjectStandard setting
dc.subjectNot-for-profit organisations
dc.subject.other350100 Accounting, Auditing and Accountability
dc.titleSector bending' and conceptual challenges in the financial reporting of early childhood education centres.
dc.typeConference Paper
opnz.createdConference held July 2007.
opnz.formatAccounting and Finance Association of Australia and New Zealand
opnz.hasVersionBrisbane, Australia
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