International Handbook of Accounting Education and Certification. Published in Association with the International Association for Accounting Education and Research

553 Pages·1992·37.91 MB·English

by  Kwabena Anyane-Ntow (Auth.)

International Handbook of
Accounting Education and Certification
EDITOR
KWABENA ANYANE-NTOW
School of Business
North Carolina Central University, USA
EDITORIAL ADVISORY BOARD
Bhabatosh Banerjee University of Calcutta, India
Adolf J. H. Enthoven University of Texas at Dallas
James B. Ghartey Southeastern Massachusetts University, USA
Shabani E. Ndzinge University of Botswana, Botswana
Khawaja Amjad Saeed University of the Punjab, Pakistan
R. S. Olusegun Wallace University of Exeter, UK
M u r ray C. We 11 s University of Sydney, A ustralia
RELATED JOURNAL
JOURNAL OF ACCOUNTING EDUCATION*
Editor-in-Chief: E. KENT ST PIERRE
The Journal of Accounting Education is a refereed journal dedicated to
promoting excellence in teaching and stimulating research in
accounting education. The journal provides a forum for exchanging
ideas, opinions, and research results among accounting educators in
community colleges, four-year colleges and universities and graduate
institutions.
* Free sample copy available on request to Pergamon Press Ltd.
International Handbook of
Accounting Education and
Certification
Edited by
KWABENA ANYANE-NTOW
North Carolina Central University, USA
Published in association with the
International Association for
Accounting Education and Research
PERGAMON PRESS
OXFORD NEW YORK SEOUL TOKYO
UK Pergamon Press Ltd, Headington Hill Hall,
Oxford 0X3 OBW, England
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Korea
JAPAN Pergamon Press Japan, Tsunashima Building Annex,
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Copyright © 1992 Pergamon Press Ltd.
All Rights Reserved. No part of this publication may be
reproduced, stored in a retrieval system or transmitted
in any form or by any means: electronic, electrostatic,
magnetic tape, mechanical, photocopying, recording
or otherwise, without permission in writing from the
publisher
First edition 1992
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the
British Library
Library of Congress Cataloging in Publication Data
International handbook of accounting
education and certification/edited by
Kwabena Anyane-Ntow.
p. cm.
Published in association with the
International Association for Accounting
Education and Research.
1. Accounting—Study and teaching.
2. Accountants—Certification.
I. Anyane-Ntow, Kwabena. II.
International Association for Accounting
Education and Research.
HF5630.I65 1992 657'.071—dc20
91-42895
0 08 041372 2
Printed in Great Britain by BPCC Wheatons Ltd, Exeter
To
My family, Nanye Bank Anyane, Mini Amma Kolibea, Juanita, Amma,
Afua and Kwadwo for their love and encouragement; and Dr. Paul
Garner for his contribution to International Accounting Education
Profile of the Contributing Authors
Abdullah Mohammed Al-Faisal, PhD, is an Associate Professor and the
Chairman of the Accounting Department at King Saud University, Riyadh,
Saudi Arabia. He earned his PhD in Accounting from the University of
Oklahoma in 1978. He has authored four books in accounting and a number
of articles. He is an active participant in the development of the accounting
profession in Saudi Arabia. Besides teaching and writing in accounting, he
is a member of various committees as well as consultant to a number of
government departments.
Dr Fouad K. AINajjar is author of articles published in the International
Journal of Accounting Education and Research, Advances in International
Accounting Journal, and co-author of the book The Accounting Research
Database, published by Routledge, London, UK. He also authored chapters
in several books and published many papers in a selective national and
international meeting proceedings. His research interests include inter
national accounting, financial accounting, and accounting harmonization of
the European Economic Community. He has presented papers at the
National Conventions of the American Accounting Association, the Inter
national Accounting Conferences, the European Accounting Congresses,
and at the British Accounting Association. Dr. AINajjar received the
Distinguished Accounting Paper Award at the 1987 Annual Meeting of the
Midwest Business Administration Association.
Jose Luis Antinori currently works for an import-export company in Peru as
the General Manager. He worked at the Universidad Nacional de le
Amazonia Peruana in Iquites, Peru in 1978 as Economics Professor of the
Accounting and Business Administration Faculty. He was appointed Research
Professor in 1987. He authored a book entitled Introduction to Economics
that was published by Editorial Universo of Lima, Peru in 1984. Educated
at the Universidad Nacional de Truille, Peru, Senor Antinori received a
Bachelor's Degree in Economic Sciences in 1971.
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Profile of the Contributing Authors
Kwabena Anyane-Ntow, PhD, CPA, is Professor of Accounting at North
Carolina Central University in Durham, North Carolina, USA. He holds
a doctorate degree in accounting from the University of Georgia, an MBA
degree from the University of Notre Dame and a BSc degree from the
University of Ghana. His teaching and research interests are international
accounting, accounting controls, and accounting information systems. He
has conducted several seminars in international accounting and manage
ment controls, and has written several papers and articles on the subject.
He has presented research papers at World Congresses and other
international conferences.
Mr N. Balkaran is a Lecturer in Accounting at the University of the West
Indies at Cape Hill Campus, in Bridgetown, Barbados.
Dr Bhabatosh Banerjee is now Professor and Head of the Department of
Commerce, University of Calcutta (India). He was Dean of the Faculty for
the academic year 1978-79 and had been the Director of Research at the
Institute of Cost and Works Accountants of India for some time. Dr
Banerjee is a Member of the American Accounting Association (including
the International Section) and currently the President of the Indian
Accounting Association. He is the Founding Secretary of the Indian
Accounting Association Research Foundation and the Chief Editor of the
Indian Journal of Accounting. Dr Banerjee has authored three books (Cost
Accounting, Financial Policy, and Management — A Practical Approach,
[1982]) and forty-two articles published in different academic and professional
journals of repute in India. His major area of interest is International
Accounting.
Maureen H. Berry, PhD, CPA, is an Associate Professor of Accounting at
the University of Illinois. She has done extensive work on Eastern
European accounting issues and has authored numerous publications:
mostly in the international accounting area, concentrating on developing
countries and issues involving public/private sector accounting problems.
Alain Jean Burlaud is a Management Educator and consultant. He has been
Chairman of the Exam Board Diplome d'expertise comptable since 1985
and is a Certified Public Accountant, France. He is the author of Comptabi-
lite et Inflation (Prix de l'Academie de Comptabilite 1979), 1979; co-
authored Public Management with R. Laufer, 1980 and CoutslControle with
C. Simon, 1981. Also co-authored Approche Systemique des relations etat-
industrie; la relation d'aide with Raimbault and Saussois, 1984; Member of
the editorial board of Politics and Public Management 1982 to present, and
Sciences de gestion from 1984 to the present.
Keith Bryant, Jr, PhD, CM A, is Professor of Accounting and Associate
Dean of the School of Business at the University of Alabama at Birmingham.
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Profile of the Contributing Authors
He has served as Chairman of the Board of Regents of the Institute of
Certified Management Accountants since 1989.
James Bui loch, PhD, CM A, CPA, is Managing Director of the Institute of
Certified Management Accountants, a position that he has held since 1972.
Edward K. C. Chiu is a lecturer and the undergraduate course director in
the Department of Management Studies at the University of Hong Kong.
He graduated in Economics from Monash University and qualified as a
Chartered Accountant in Australia. He is a fellow of the Hong Kong
Society of Accountants and a Certified Public Accountant. He serves as a
member on committees of public bodies such as the Vocational Training
Council, the Hong Kong Society of Accountants, the Hong Kong Manage
ment Association, the Education Department and the Institute of Chartered
Accountants in Australia — Hong Kong Group. His main research interests
are Accounting Education, Finance and Accounting. He has written articles
on these and other subjects.
Jake Claret, FC A, FCMA, is Director of Student and Technical Affairs at
the Chartered Institute of Management Accountants. He is responsible for
the recruitment, education, examination and training of students, research
into management accountancy and the publishing activity of the Institute.
He was formerly with a multinational firm, the BOC Group, as General
Manager of a management consultancy, which he founded, geared towards
accounting, computer and other business applications within and outside
the Group. He is the author of many articles in business and finance
publications, booklets and an accounting textbook.
Fortunato B. Cruz has a Bachelor in Business Administration with a major
in Accounting. He is a Certified Public Accountant in the Philippines with
32 years of accounting experience. He has held responsible positions in
professional and civic organizations such as the Philippine Institute of
Certified Public Accountants, the Accounting Standards Council, the
Management Association of the Philippines, the Financial Executives
Institute of the Philippines, the Makati Chamber of Commerce and
Industry, the Philippine Association of Management Accountants, the
Asian Federation of Accountants, and the Association of CPAs in Public
Practice. Senor Cruz has received awards for outstanding achievements in
professional undertakings, including from the Philippine Institute of Certi
fied Public Accountants as Outstanding CPA in Professional Development
(1985), as Outstanding CPA in Public Accounting (1986), and as Outstand
ing Committee Chairman for various years.
Adolf J. H. Enthoven, PhD, is Professor and Chairman of the Accounting
Department and Director of the Center for International Accounting
Development at the University of Texas at Dallas. He formerly taught at
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Profile of the Contributing Authors
the University of Illinois, Harvard University, University of North Carolina
and the Institute for Advanced Studies (The Hague).
He has served on various committees of the American Accounting
Association, the Association of Government Accountants, the European
Accounting Association and the National Association of Accountants. He
is currently a member of the Association of Government Accountants'
International Affairs Committee, a Director of the International Consor
tium on Governmental Financial Management, the International Committee
of the American Accounting Association, and the International Committee
of the National Association of Accountants.
Formerly Dr Enthoven was Director-Europe for Coopers & Lybrand
(international certified public accountants) and a Senior Investment Officer
with the World Bank, and he has been a consultant to the US General
Accounting Office, Agency for International Development, the World
Bank, the United Nations and the Ford Foundation on international
accounting educational and structural developments. He has written several
books and numerous articles on accounting and economic policy.
James B. Ghartey is Professor of Accounting at Southeastern Massachusetts
University. He has an earned doctorate degree in accountancy from the
University of Illinois. He is also professionally certified in the United States
(AICPA and Massachusetts), United Kingdom (FCCA), Australia (FASA,
CPA), Nigeria (FCA), and Ghana (CA). He is a member of the Inter
national Practice Committee of the American Institute of Certified Public
Accountants and the Editorial Review Board of the International Journal
of Accounting Education and Research. He has taught in universities in the
United States, Ghana, Nigeria, and Sierra Leone, and worked with
professional accounting firms in Ghana and Australia. He has consulted for
or worked for major international organizations such as the World Bank,
the United Nations (UNESCO, EC A, and UNCTC), and the Common
wealth Secretariat, and published two books and several articles on Third
World Accounting and Development.
Er-Ying Lou was born in 1915 and is a native of Shao-Zing, Zhe-Jiang
province, People's Republic of China. He graduated from the Accounting
Department of the National Shanghai Institute of Commerce in 1937. He
attended the University of Michigan and earned a Master of Business
Administration in 1939. He was Professor of Accounting of various univer
sities in Shanghai and is now Professor and Honorary Chair of the
Accounting Department at Shanghai University of Finance and Economics
and Vice-President of the Auditing Society of China.
In the current decade, he has effectively orchestrated the Innovation in
Accounting Education Project at the Shanghai University of Finance and
Economics. The accounting curriculum framework and new course text
books produced therefrom have exerted and are exerting far-reaching
influences in accounting education in China. He is author, co-author, and
XIV
Profile of the Contributing Authors
chief editor of twelve books on accounting and auditing, including Cost
Accountingy Fundamental Accounting, Financial Accounting, and Auditing
Theory and Practice. He is contributor of more than sixty articles on
accounting and auditing published in periodicals. He is honored with the
Distinguished Educator award given by the Shanghai Municipality in 1987
and by the Ministry of Finance in 1989. He received the National Award
given by the State Education Commission for Excellent Educational
Achievements in 1989.
Wolfgang Lücke, PhD, is a Professor of Accounting at the Georg-August-
Universität, Gottingen, in Germany.
Patrick McCabe, BComm, MBS, MA, FCMA, lectures at the School of
Business Studies, Trinity College, Dublin, where he teaches management
accountancy and financial management courses at undergraduate and
postgraduate levels. He also lectures on MSc programmes organized
jointly by Trinity College and the Irish Management Institute and is
engaged on executive development and consultancy assignments with a
number of leading Irish organizations.
Prior to entering academia, he worked for a number of years in
accounting and financial management positions in Irish industry, within
both the domestic and the international sectors. He is a member of the
Editorial Board and of the Education and Training Committee of the
Chartered Institute of Management Accountants in London, and internal
examiner for the University of Ulster and for the National Council for
Academic Awards. He is the Examiner in Financial Management for the
Marketing Institute of Ireland.
His publications and research interests are centred on cash cycles,
organizational economics, measurement issues in accounting and the history
of business studies education in Ireland.
Gerard McHugh, MA, FCC A, lectures at the School of Business, Trinity
College, Dublin where he teaches Accounting and Financial Management
at undergraduate and postgraduate levels. Gerard McHugh is an accountant
with a range of professional, commercial and teaching experience. He
trained as a professional accountant with Deloitte Haskins and Sells,
Chartered Accountants, qualifying in 1980. Mr McHugh has contributed a
number of articles to professional and academic journals and is the author
(with Professor R. M. S. Wilson) of Financial Analysis: A Managerial
Introduction, Cassell, London. He is currently engaged in research into
accounting and management control systems within the Irish public sector.
David Molteno is currently completing his articles of clerkship with Deloitte,
Haskins and Sells, after having spent a year lecturing at the University of
Cape Town. His research interests lie with the theoretical side of accounting
thought, and he is engaged in completing a MPhil degree along these lines.
xv
Profile of the Contributing Authors
Shabani Ndzinge, PhD, is a member of staff of the School of Accounting
and Management Studies at the University of Botswana. He holds an
honors first degree in accounting from the University of Dar-es-Salaam
(Tanzania), a Master's degree in accounting from the University of Delaware
USA) and a PhD degree from the University of Kent in England. Dr
Ndzinge was the acting Chairman of the School of Accounting and
Management Studies (March 1987-January 1988) before going on study
leave. His research interests center mainly on international accounting.
Sonja Newby holds a lectureship position at the University of Auckland
where she joined the staff in 1986. Previously she lectured for two years at
Massey University, and has held teaching positions at polytechnics and at
the high school level. Her teaching interests lie in the financial accounting,
financial management and international accounting areas.
Her previous publications include articles in ABACUS, Personal Investor,
and the Accountants' Journal In August 1989, the New Zealand Society of
Accountants published a 134 page paper which they had commissioned Mrs
Newby to write dealing with recent developments in financial accounting
and reporting in New Zealand.
Dr Andrews Oppong is an Associate Professor of Accounting at Dalhousie
University, Halifax, Nova Scotia, Canada. He is a member of several
organizations including American Accounting Association, Canadian
Academic Accounting Association, and Certified General Accountants'
(CGA) Association of Nova Scotia. He has held previous academic
appointments at Purdue University, University of British Columbia, and
University of Zimbabwe. He has also worked with scholars from the
People's Republic of China.
He earned his BSc (First Class Honors) in Business Administration from
the University of Ghana in 1969, MBA from University of Chicago in 1972,
and PhD in 1976 from the University of Iowa. He has research and teaching
interests in both management and financial accounting. Some of his
publications have appeared in Journal of Accounting Research and Cost and
Management.
Enrique Fernandez Pena is a Doctor of Economic and Business Science. He
studied at the School of Advanced Business Studies, the School of
Statistics, and the Faculty of Economic and Business Science of the
Autonomous University, Madrid. He is Head of the Department of
Financial Economy and Accounting at the School of Business Studies of the
Complutense University of Madrid. He was admitted to the Institute of
Public Accountants.
Since 1966 he has been a correspondent member of the Royal Academy
of Economic and Financial Science of Barcelona. From 1977 to 1988 he was
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