Academic Research on the Generally Recognized Accounting Practice (GRAP)

• Perceptions of journal quality and research paradigm: results of a web-based survey of British accounting academics, Lowe, A., & Locke, J. (2005). Accounting, Organizations and Society, 30(1), 81-98. This text report has the result conducted from a web-based study of the hierarchy of the reviewed accounting journals by academics in the United Kingdom. The design of the sourced instrument entails an interactive section of the journal. The web-based scheme is termed unique because it contains steps in which the academics classified based on the methodological view. This is shown as a graphical representation in the text as a bubble schematic that indicates the positioning of the journal according to the view of both quality and paradigm.
• Public Finance Management Act, 1 of 1999-a compliance strategy, Madue, S. M. (2007). Politeia, 26(3), 306-318. The PFM Act (Public Finance Management), 1 of 1999, as reviewed by Act 29 of 1999 Public Finance Management Act, helps to rebrand the management of finances in the South African Republic Services so as to give maximum support to the Public Administration Processes which are aimed at achieving high-level and substantial public services. Generally, the Public Finance Management Act (PFMA) defines a uniform system of management of finances in the public sector which helps to improve on the erstwhile system where the undermining of accountability was caused as a result of difference in the type of legislation propounded to different entities and the control of expenditure was regarded as "too narrow". It should be noted that the cooperation with the Public Finance Management Act is also the compliance with the International Financial Reporting Standards (IFRSs).
• Accounting principles generally accepted in the United States versus those generally accepted elsewhere, Mueller, G. G. (1983). In International Accounting and Transnational Decisions (pp. 57-69). This Chapter solely explains the generally accepted accounting principle in the United States and those accepted in other Countries. There is a high level of similarities between the circumstances of inventory valuation in the United Kingdom and the United States. In the lower of market test or cost, the market is defined as the net realizable future sales and the essential replacement value in the United Kingdom. Irrespective of the similarities of circumstances, the non-accepted income taxes are mostly recognised in the United State than in Canada. There is variation in accounting terminologies globally. The usage of terms provision and reserve differs in both the United Kingdom and the United States. Likewise, the use of terms depreciation differs from the Frenchs and other European Countries. Nonetheless, there must be a strong uniformity in the Generally Accepted Accounting Principles internationally and they must have maximum respect for the differences existing in a diverse environment where accounting operations are carried out.
• Global financial crisis: The challenge to accounting research, Arnold, P. J. (2009). Accounting, organizations and society, 34(6-7), 803-809. The accounting practices are strongly misled in the modern financial problems and in the request for restoring and recapitalizing financial institution via the stability of the international financial system. This paper explains the theoretical and methodological differences in accounting findings that discuss the failure to reduce our ability to respond and analyze it.
• Some variations in accounting practice in England, France, Germany and the United States, Hatfield, H. R. (1966). Journal of Accounting Research, 169-182.
• Incentives versus standards: properties of accounting income in four East Asian countries, Ball, R., Robin, A., & Wu, J. S. (2003). Journal of accounting and economics, 36(1-3), 235-270. Eastern Asian countries such as Malaysia, Singapore, Thailand and Hong Kong little explanation to the relationship between the incentives of auditors as well as managers and accounting standards. Their standards are gotten from common sources such as (IAS, UK and US) that are commonly seen as greater quality than the standards of the code law. Although, incentives prepared means low quality. Their financial quality as reported in this paper is not as high as that under the code law. It is totally wrong to differentiate countries by standards, then neglecting incentives as seen in the International Accounting Paper, IAS advocacy and transparency indexes.
• An induced theory of accounting measurement, Staubus, G. J. (1985). Accounting Review, 53-75. This text explains the wide margin in the world of accounting: The omission of the descriptive postulation of accounting measurement begins with practices of accounting stated at researching on what accounting really means and entails. It tests peculiar measurement practices to confirm the measurement method adopted and the properties of those methods. Also, the text explains the most important idea surrounding accounting practices. The process adopted is inductive and empirical. Note that accounting measurement places more focus on the aspect of wealth. There are eight general methods which include conservatism, the stability of income statement, control of income statement and flexibility to mention a few. The motion of the market simulation is the most important factor that binds the GAAP measurement practices. Removal of the observable current market prices for setting specific liabilities and assets, accounting practices creates a representation of such prices by blending and selecting of important observed market prices and other obvious scopes in sync with the rule of the accepted market economics.
• Accrual budgeting: accounting treatment of key public sector items and implications for fiscal policy, Mart, C. (2006). Public Budgeting & Finance, 26(2), 45-65. Budgeting is one of the most interesting problems in the public sector as far as accounting is concerned. In this research work, we discuss the treatment of problematic and accounting elements of the financial reports when discussing accrual budgeting, and also analyze the disadvantages of alternatives on accounting fiscal policies. Three countries are chosen as an example in the execution of accrual accounting and budgeting and they include; Sweden, New Zealand and the United Kingdom. Accounting standard of the PSASB (Public Sector Accounting Standard Board), Government Finance Statistics Manual of the International Monetary Fund and the European System of Accounts are used as a benchmark.
• Myth and technology in the American accounting profession, Boland Jr, R. J. (1982). Journal of Management Studies, 19(1), 109-127. The American accounting profession moves to provide effective and efficient financial reports to the public but failed. It failed because the report must obey an environment of often conflicting and diverse institutions. This paper carefully deciphers the development of the profession. Critically arguing that it shows an interplay of technology and myth. This interplay provides structural short-comings in the profession as well as not being fair to reform.
• Institutional theory and accounting rule choice: an analysis of four US state governments' decisions to adopt generally accepted accounting principles, Carpenter, V. L., & Feroz, E. H. (2001). Accounting, organizations and society, 26(7-8), 565-596. In this paper, international theories were used to explain how institutional force exerted on flu different state government (Michigan, Delaware, Ohio and New York) catalyse the decision of these state government to either resist or adopt the use of GAAP (Generally Accepted Accounting Principles) for the financial reports outside these states. Resources dependence is seen as an important element of manoeuvring institutional pressure associated with early GAAP. Three factors were considered to have lead to the foremost resistance to institutional pressure. First, if accounting gurus are not pro-active in their known association, they may fail to understand the importance of educational processes which are of utmost importance to early acceptance of GAAP. Second, Printing by the organisation may hinder GAAP adoption and Lastly, showing interest powerfully may hinder GAAP if and only if the assumed GAAP legislation is allowed to annul the power of the existing relationship. The scope of this study simply is that all strategic methods adopted to defer institutional pressures of GAAP acceptance will always fail because of the force exerted by the institutional pressure that originates from the structured professional governmental and accounting institutional fields.
• Towards a paradigmatic foundation for accounting practice, Nrreklit, H., Nrreklit, L., & Mitchell, F. (2010). Accounting, Auditing & Accountability Journal, 23(6), 733-758. This research work basically claims that the use of practical constructivism as a measure for the development of a typical example of several foundations of accounting policies. In other for this to be achieved, practical constructivism is discussed as well as its importance to accounting contrasted and illustrated with the old example of realism.