Template-Type: ReDIF-Article 1.0 Author-Name: Murray Bryant Author-X-Name-First: Murray Author-X-Name-Last: Bryant Author-Name: Throstur Olaf Sigurjonsson Author-X-Name-First: Throstur Olaf Author-X-Name-Last: Sigurjonsson Title: Wells Fargo and company: shareholder derivative action - should the case succeed in federal court for the board of directors? Abstract: A shareholder derivative suit is an action allowed by the courts available for shareholders who believe that they have been harmed by actions of the board of directors and management. In most instances, particularly in the US state of Delaware, the actions are not allowed to proceed. The rationale being that the business judgment rule applies and as a consequence boards of directors are not held responsible for bad decisions and as a result, the business judgment is held to be supreme. Thus they are presumed to act with diligence, without self-interest and in the best interests of the corporation. In the case of the action against Wells Fargo and Company, Judge Tigar of the Northern District of California, has allowed the action to go ahead, on the basis that the directors had been negligent on multiple actions with respect to several proceedings by Federal Agencies against the bank and furthermore that the directors failed to hold senior management to account when concerns were raised from several sources about malfeasance occurring in the bank. The paper suggests the arguments both for the plaintiffs and the defendants in the case. Journal: Int. J. of Critical Accounting Pages: 1-15 Issue: 1 Volume: 11 Year: 2019 Keywords: business judgment rule; responsibility of boards of directors; shareholder derivative action; malfeasance; fraud; multiple firings; judicial hearing; strategy and performance measurement systems. File-URL: http://www.inderscience.com/link.php?id=103820 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijcrac:v:11:y:2019:i:1:p:1-15 Template-Type: ReDIF-Article 1.0 Author-Name: Umesh Sharma Author-X-Name-First: Umesh Author-X-Name-Last: Sharma Title: Giving contingency theory of management accounting and control a critical edge Abstract: This paper describes the background of contingency theory and some of its research findings, and offers a critique. There are problems with contingency theory, ranging from a simple lack of clarity in its theoretical statements to subtle issues such as its reliance on a statistical model to show interactions between organisational structure and its impacting variables. The paper examines contingency theory from functionalist perspectives and identifies shortcomings of the theory. It is suggested that the narrow view of contingency theory that relies on responses to generally applicable questionnaire needs to be replaced by an approach that takes into consideration the context of specific organisations. Journal: Int. J. of Critical Accounting Pages: 16-25 Issue: 1 Volume: 11 Year: 2019 Keywords: contingency theory; management accounting; critical accounting; technology; organisation size; environmental uncertainty. File-URL: http://www.inderscience.com/link.php?id=103829 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijcrac:v:11:y:2019:i:1:p:16-25 Template-Type: ReDIF-Article 1.0 Author-Name: Donna Whitten Author-X-Name-First: Donna Author-X-Name-Last: Whitten Author-Name: Tantatape Brahmasrene Author-X-Name-First: Tantatape Author-X-Name-Last: Brahmasrene Title: Accounting reporting standards: attitudes toward cash flow reporting and the impact on share price Abstract: This study explores the attitudes of accounting reporting standard-setters towards cash flows and the impact on cash flow per share (CFPS) on share price. Included are companies headquartered in the USA, where generally accepted accounting principles (US GAAP) is adhered to and reporting CFPS is prohibited, and Canada, where international financial reporting standards (IFRS) has been adopted and companies are free to report CFPS. The results indicate differences exist. First, the firm's country where headquartered is highly significant in determining share price. Next, whether earnings per share (EPS) was positive or negative is significant. Finally, for US based companies, CFPS was significant when EPS was positive, but insignificant when EPS was negative. Conversely, for those firms that are headquartered in Canada, CFPS is highly significant whether EPS is positive or negative. Journal: Int. J. of Critical Accounting Pages: 26-39 Issue: 1 Volume: 11 Year: 2019 Keywords: US GAAP; international financial reporting standards; IFRS; share price; diluted earnings; EPS; book value; dividends; cash flow per share; CFPS. File-URL: http://www.inderscience.com/link.php?id=103832 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijcrac:v:11:y:2019:i:1:p:26-39 Template-Type: ReDIF-Article 1.0 Author-Name: Eduardo Rivera Vicencio Author-X-Name-First: Eduardo Rivera Author-X-Name-Last: Vicencio Title: Inequality, precariousness and social costs of capitalism. In the era of corporate governmentality Abstract: Historically, the government of large corporations (corporate governance) were transforming society as a whole into a government over all others, inducing the development of a series of government apparatuses and knowledge. Having as a central axis the economy, which materialises in neoliberalism, this new governmentality begins its period of consolidation after the abandonment of the gold standard in 1971. In these almost 50 years, it has developed by the hand of corporate governance, the greatest economic inequality, a huge precariousness of the working class and the strong increase in the social costs of capitalism. This paper describes the process of concentration of wealth and its effects on society. During this period, there is also a displacement of the central axis of capitalism and its system of appropriation, as it was the system of capitalist production, by appropriation through the financial-monetary system (indirect appropriation), together with the transfer of state planning to private companies. Finally, this paper describes the weaknesses of the current system of capitalist appropriation and the end of the Anglo-American financial empire. Journal: Int. J. of Critical Accounting Pages: 40-70 Issue: 1 Volume: 11 Year: 2019 Keywords: inequality; precariousness; social costs; corporate governance; neoliberalism; governmentality; crisis; Foucault. File-URL: http://www.inderscience.com/link.php?id=103833 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijcrac:v:11:y:2019:i:1:p:40-70 Template-Type: ReDIF-Article 1.0 Author-Name: Alain Takoudjou Nimpa Author-X-Name-First: Alain Takoudjou Author-X-Name-Last: Nimpa Author-Name: Clovis Miamo Wendji Author-X-Name-First: Clovis Miamo Author-X-Name-Last: Wendji Author-Name: Camille Kamga Wendji Author-X-Name-First: Camille Kamga Author-X-Name-Last: Wendji Title: Management control instruments in SMEs: types and their effects on performance Abstract: The main objective of this study is to examine the effects of management control instruments on the financial performance of Cameroonian small and medium size enterprises (SMEs). The data used is that collected within the framework of the project on the performance of companies in French speaking African countries and the sample is made up of 389 SMEs. The empirical analysis is carried out in two stages: an exploratory stage and a confirmation of the statistical analysis. The results show that a large proportion of SMEs (70,18%) remain focused on traditional tools (calculation of costs and budgets). Also, the share of SMEs that associate modern tools to traditional ones is low; 21% of SMEs use dashboards and 9% use tools like <i>benchmarking</i> or the ABC method. The results of the analysis shows that only the combined use of traditional and modern tools have a significant effect on the financial performance of SMEs. Journal: Int. J. of Critical Accounting Pages: 71-89 Issue: 1 Volume: 11 Year: 2019 Keywords: management control; traditional management tools; modern management tools; financial performance; small and medium size enterprise; SME. File-URL: http://www.inderscience.com/link.php?id=103834 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijcrac:v:11:y:2019:i:1:p:71-89