ETD Collection

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Author: search.filters.author.Logie, JustinSubject: search.filters.subject.Accounting

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    Accounting for inventory: a synthesising of accountability and neoliberalism
    (2018) Logie, Justin
    The literature on accountability and neoliberalism identified friction between these two paradigms, resulting in trade-offs in financial reporting standards. The trade-offs have resulted in standards which lack theoretical consistency with the Conceptual Framework, leading to less useful financial information being presented to proponents of both the accountability and fair value paradigms. The aim of the research is to investigate whether a dual-reporting framework, using the features of each paradigm, would be possible. The research was performed using inventory as an illustrative example. The findings from 13 interviews conducted with financial reporting experts indicate that a dualreporting framework is possible. Additionally, the research uncovered a possible conceptual basis for other comprehensive income, while simultaneously proposing an alternative method to account for inventory, incorporating fair values. The research provides a valuable contribution to synthesising the tension between accountability and neoliberalism, together with increasing the value of information presented to users regarding fair value movements in inventory.