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Accounting Experience On CFO Financial

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Question:

Discuss about the Accounting Experience on CFO Financial.
 
 

Answer:

Introduction:

The current article is based on the analysis of the article named “Half a Defence of Positive Accounting Research” (Deegan 2013). Wide array of emphasis has been provided on positive accounting where it originally intends to develop a description of human behaviour as illustrated in the framework of accounting instead of focussing on the profit after tax in bookkeeping. The existing study describes the broader positive exploration programme having numerous insufficiencies in actual practice. The study also brings out the inherent difficulties that establish the creation of numerous speculative models. The models describes the unnecessary dependence-taking place following the hypothesis testing and illustrate the improper attention based on the numerical values of parameters.     

Researcher was engaged in the evolution of the wider intellectual projects by bearing in mind the advantages and disadvantages possessed by positive accounting research. The researcher has also presumed the assignment to be in alignment with the ontology and epistemology as well (Saunders and Cornett 2014). The existing study performs critical assessment of positive accounting having numerous loopholes and restricted in construction of meaningful assistances to the overall research project. The study is aimed providing a brief introduction of the article and critical evaluation of each segment to arrive at conclusion. The study focuses on research hypothesis by describing the value and method together with the literature review.

The article is based on the “Half a Defence of Positive Accounting Research”, the researcher had examined the positive approach in relation with the accounting research. As stated by Weil, Schipper and Francis (2013), the positive accounting research generally associated with other wider intellectual schemes of scientific research since its objective is to examine the cause and effect relationship. Additionally, there are existing deficiencies in positive accounting research that have been highlighted through selection of the given article by giving due considerations to the literature of auditing. Upon analysis, it is found that positive research is also considered when there is an existence of loopholes for attaining the scientific goal following the selection of illustrative paper to fit the objective of this research. The description provided by Kuhn is associated with the positive accounting research. It is noted that the prospect of Kuhn revolution and crisis is adequately mentioned in order to help in accomplishing the positive accounting and its potential (Edwards 2013). The summary provided in the article portrays the significance of locating the loopholes in order to recommend appropriate suggestion following the end of the study.

 

The researcher describes the appropriate criteria for evidencing the matter by stating that induction cannot alone sufficiently measure the accuracy of the accounting during any period. The current article is based on the falsification of positive accounting theories in its given form (Pratt 2013). Four classes of description are used and the errors are measured based on the internal and external impacts along with the efficiency of the relevant theory. The researcher specifically points out that theory could not be subjective only through observation and therefore it becomes important to select between two or more theories. As noted from the research that conclusive opinions generally falsify the inaccurate theories, which is inherent in the case by supporting the opposing theory.

The article aims to provide detail discussion of limitations and logic related with statistical hypothesis testing. It is found that it is a very dilutive version of logic of proper acquisition because every singles test out of 20 can be wrongly dismissed at a degree of 5% significance (Beatty and Liao 2014.). There are similar issues, which is present and is related with the hypothesis testing. It is regarded as statistical distribution of test falling under the heads of null hypothesis depended upon the supplementary assumptions. Even though technical issue is resolved, there is a higher probability of hypothesis being failed. It is only inherent unless single hypothesis testing is taken into considerations.

Research Questions or Hypothesis:

Research hypothesis assist in evaluating the validity in the areas of positive accounting research. The research hypothesis is as follows;

H0: There is a presence of cosmos, which is further than anyone’s imaginary level

H1: Occurrence of events in world have purpose and forms the part of universe

H2: Individuals can derive high degree of information with reliable sources concerning the universal events by employing vigilant observation.

H3: The objective of intellectual property is make the use of observation to gain worldwide understanding of universe in case of causation

To test the first hypothesis construction of different instances of positive research is necessary. The operations of rational self-interest are derived from the interaction with other parties that have expressed their opinion and outcome in assessing positive accounting theories.

To test the second hypothesis, the researcher needs to discuss the scientific epistemology and ontology since it depicts that positive accounting research is not similar as in case of accounting research. It is necessary to advocate the events that does not occur randomly or the intervention output particularly from outer world. 

To test the third hypothesis researcher should discuss the falsification and hypothesis to determine the validity of actions. Additionally the theory requires appropriate evaluation of evidences where preliminary ideas can be created. It is vital to test the new theory in contrast with the observation under the given situation where both old and new theories can make confident expectations.

To test the final hypothesis, it is vital to put into use several models that focus on measurement. This represents that mental models can be put into use to map the casual process of occurrence in universe. It is noteworthy for researcher to frame down the hypothesis that can be correctly used in the section of literature review.

Numerous theoretical frameworks have been considered so that the purpose of the research can be met.

 

Illustrations of positive accounting research:

As stated by Henderson et al. (2015), in different types of business organizations the operations of balanced self-interest occurs amid the parties where the results of positive accounting phenomena is implied with the help of express contract. It also covers the accounting selections where the managers of organizations reports and conduct the decision of pricing on behalf of the auditors. The auditors are regarded as the decision makers by making the use of standards and professional advices to the theoretical practitioners. Determining the type of information will assist the investors in undertaking decisions on investment (Hoskin, Fizzell and Cherry 2014). Such actions generally deduce the behavior of humans, which is rational in nature, and it is not included in the theory of positive accounting. Sufficient instances are provided in the article that locates the loopholes following sufficient evaluation.  

After sufficient research it is found that accounts setting can take place during the nonexistence of coherent behavior i.e. methods adopted by auditors in making decisions. The managers can make the use of discretion in performance assessment system. There are numerous instances, which help in illustrating the theory of positive research, which is wider than the positive accounting theory (Robson, Young and Power 2017). A research can be of any type that aims to gain an insight concerning the nature and the cause of accounting phenomenon after the scientific research of accounting.

As defined by Macve (2015), epistemology is regarded as the scientific field where it targets to explain the numerous approaches to gain insight of the entire world. Conversely, ontology defines the activities along with the association for responding the queries. Primarily human agency is regarded as the socially developed nature since there is a close relation, which states that social earth does not possess objective subsistence. It is devoid of human beings where the activities of participants do not pose any financial rational. It is found that earth cannot be regarded devoid of experience particularly in case of human beings along with the description provided by the participants (Chiwamit, Modell and Scapens 2017). Complexities generally occur from the ontological and epistemological manner where the objective is gain sufficient information on making the accounting phenomenon a fruitful exercise.

Problems are related with the positive research since it discovers the experience and meaning that proposes to determine the underlying reasons.  Several research areas possess divertive objective and exists during a given period (Reimers 2014). Because of this reason, human beings express their own will and their actions leads to causes that are not consistent with scientific theory. 

 

Need for effective research program:

An effective research program can be used to solve and identify the issues, which is existing in the accounting framework. As evident from the current article, it is found that there is a need for stringent testing for models that are exposed in order to perform the careful evaluation of the variable instrument (Bishop, DeZoort and Hermanson 2016). Additionally, there is a requirement for analytical modeling which helps in testing the formation of theoretical models.

To implement the analytical modeling in the positive accounting research it is vital to take into the considerations the field preoccupation where the theory swings from tractability to plausibility. The researcher suggests that there is a need for measurement instead of relatively testing the procedures (Hoyle, Schaefer and Doupnik 2015). Regarding accounting, it is found that biasness in the strong publication and exclusion of the dimension, which excludes the association of the provided theory. This is due to the scarcity of resources in accounting and unavailability of sufficient resources at the given period.  

Significance and Limitations of the article:

At the time of assessing the given article, it was found from the research that wide gap amid the existing practices of positive accounting along with needs of making it an important contribution to the wider knowledgeable program. The study has further defined there is absence of system optimization where it is vital for altering the same following the rectification of error (Otley and Emmanuel 2013). The current article objective is to provide rational insight into the scientific research where it is authenticated following the participation of accounting groups. The research has successfully assisted in recognizing the fact that to close the accounting gap there is a need for better theoretical model. The article further proves that positive accounting research is regarded as the complication that is minimized for statement of the anticipated trends existing amid the two variables.

The study further lays down numerous limitations from the article that the current research will not contribute in the awareness of the human behavior in the existing context of accounting. The reason for this is that it lacked actual data from potential source. The article further lays down numerous limitations by stating that there is inadequate primary and secondary data that hampers the research quality (Cooper, Ezzamel and Qu 2016). In such circumstances, the researcher had made interpretations derived from the audited statements of auditors who expressed their views on positive accounting research. Hence, the quantitative elements are not sufficiently considered forming critical characteristics of modern era. This is because it helps in projecting future growth of the organization.

 

Conclusion:

Following the end of study, it is understood that the article aimed at assessing the theory of epistemology and ontology of positive accounting research. The article aimed at identifying the loopholes and overcoming the same simultaneously. The researcher recommends that the theoretical models that are used in the article needs to be framed in order to facilitate in depth testing of the accounting variables. The recommendations also propose to have better measurement tools for undertaking rigorous evaluation of the testing models. It is obligatory that the theory needs to be applied after performing the findings or substitutions that is associated with the current dependable source.

As evident that the behavior of the human beings are considered to be rational in nature where everything does not occurs in terms of the positive accounting theory. One should essentially take into the considerations the quantitative aspects of accounting theory which needs to be prioritized for forecasting the potential performance of an commercial undertakings. To conclude with, there needs a reformation in the positive accounting program in order to minimize the accounting errors.

 

Reference List:

Beatty, A. and Liao, S., 2014. Financial accounting in the banking industry: A review of the empirical literature. Journal of Accounting and Economics, 58(2), pp.339-383.

Bishop, C.C., DeZoort, F.T. and Hermanson, D.R., 2016. The Effect of CEO Social Influence Pressure and CFO Accounting Experience on CFO Financial Reporting Decisions. Auditing: A Journal of Practice & Theory, 36(1), pp.21-41.

Chiwamit, P., Modell, S. and Scapens, R.W., 2017. Regulation and adaptation of management accounting innovations: The case of economic value added in Thai state-owned enterprises. Management Accounting Research.

Cooper, D.J., Ezzamel, M. and Qu, S., 2016. Popularizing a management accounting idea: The case of the balanced scorecard.

Deegan, C., 2013. Financial accounting theory. McGraw-Hill Education Australia.

Edwards, J.R., 2013. A History of Financial Accounting (RLE Accounting) (Vol. 29). Routledge.

Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting. Pearson Higher Education AU.

Hoskin, R.E., Fizzell, M.R. and Cherry, D.C., 2014. Financial Accounting: a user perspective. Wiley Global Education.

Hoyle, J.B., Schaefer, T. and Doupnik, T., 2015. Advanced accounting. McGraw Hill.

Macve, R., 2015. A Conceptual Framework for Financial Accounting and Reporting: Vision, Tool, Or Threat?. Routledge.

Otley, D. and Emmanuel, K.M.C., 2013. Readings in accounting for management control. Springer.

Pratt, J., 2013. Financial accounting in an economic context. Wiley Global Education.

Reimers, J.L., 2014. Financial Accounting: Business Process Approach. Pearson Higher Ed.

Robson, K., Young, J. and Power, M., 2017. Themed section on financial accounting as social and organizational practice: exploring the work of financial reporting. Accounting, Organizations and Society, 56, pp.35-37.

Saunders, A. and Cornett, M.M., 2014. Financial institutions management. McGraw-Hill Education,.

Weil, R.L., Schipper, K. and Francis, J., 2013. Financial accounting: an introduction to concepts, methods and uses. Cengage Learning.

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