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Abdo, H., Mangena, M. and Owusu, F.B. 
ORCID: 0000-0002-6633-4922,
2023.
Accounting practices and regulations for extractive industries: a framework for harmonisation.
Journal of Financial Reporting and Accounting.
ISSN 1985-2517
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Abstract
Purpose: The purpose of this study is to provide a harmonisation framework for the diverse accounting practices by extractive industries.
Design/methodology/approach: The study takes a three-stage approach. The first involves a comprehensive literature review of the historical evolution of accounting regulations by extractive industries. The second involves constructing an accounting practice index for extractive industries. The third involves constructing a harmonisation framework.
Findings: The accounting practice index provides empirical evidence of the wide diversity of accounting practices by extractive industries. Analysis of the literature review addresses the several attempts by accounting and regulatory bodies to standardise the diverse practices of accounting by extractive industries and reasons for the lack of successful standardisations. The authors extract lessons from these previous attempts and propose a harmonisation framework.
Research limitations/implications: The proposed harmonisation framework can be used to align together the diverse accounting practices by extractive industries and enhance comparability and consistency of accounting figures and statements produced by these industries. Harmonising the diverse accounting practices is crucial for investment decision-making.
Originality/value: The harmonisation framework is the first of its kind that could enhance the comparability of accounts of extractive industries’ firms and be used to harmonise diverse accounting practices by other industries.
| Item Type: | Journal article | ||||||
|---|---|---|---|---|---|---|---|
| Publication Title: | Journal of Financial Reporting and Accounting | ||||||
| Creators: | Abdo, H., Mangena, M. and Owusu, F.B. | ||||||
| Publisher: | Emerald | ||||||
| Date: | 18 September 2023 | ||||||
| ISSN: | 1985-2517 | ||||||
| Identifiers: |
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| Rights: | © 2023, Emerald Publishing Limited. This AAM is provided for your own personal use only. It may not be used for resale, reprinting, systematic distribution, emailing, or for any other commercial purpose without the permission of the publisher | ||||||
| Divisions: | Schools > Nottingham Business School | ||||||
| Record created by: | Laura Ward | ||||||
| Date Added: | 01 Nov 2023 16:26 | ||||||
| Last Modified: | 01 Nov 2023 16:26 | ||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/50208 |
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