Management Accounting Frontiers
TABLE OF CONTENTS
Editorial: Research Opportunities for Pandemic Induced Business Changes: The Case of the
Working from Home Arrangement
Michael S. C. Tse
a Ozford Institute of Higher Education, Australia
Download: https://doi.org/10.52153/prj1228005
A Capability Approach to Real Estate Valuation and Value Enhancement
Janek Ratnatunga
aInstitute of Certified Management Accountants, Australia
Abstract
There are numerous financial metrics available in the academic and commercial world to estimate real estate value. Appraisers often use such metrics when advising on the purchase or sale of real estate at a point in time. The first part of this paper proposes a new metric, based on the capability approach, to make an ex-post single period valuation. Further, appraisers often give advice to their clients on actions to take in order to enhance the value of their real estate. This area of value enhancement has received scant attention in the academic literature. In practice, this advice
is often based ad-hoc, anecdotal recommendations. The second part of the paper develops seven real estate strengths that can be targeted and provides an ex-ante approach to building real estate value. The valuation model presented in this paper is a pragmatic approach to enhancing both the values of tangible and intangible capabilities of a property by utilizing Expense Leveraged Value Indexes (ELVI).
Keywords: Financial Valuation Metrics, Property Appraisals, Real Estate Capability, Real Estate Value
Download:https://doi.org/10.52153/prj1026004
From ‘Traditional’ Budgeting to ‘Better’ Budgeting: Navigating through ‘Stability’ and ‘Change’
Thisali Liyanage , Tharusha Gooneratne
aDepartment of Accounting, Faculty of Management & Finance, University of Colombo, Sri Lanka
Abstract
Faced with criticisms on traditional budgeting, contemporary organisations have moved towards better budgeting and beyond budgeting practices. Drawing evidence from Citrus Lanka, a fast-moving consumer goods (FMCG) manufacturing firm in Sri Lanka, this paper explores amid limitations of traditional budgeting, how and why the firm moved to better
budgeting rather than embracing beyond budgeting. It adopts the qualitative methodology and case study approach and mobilises the theoretical notions; ‘stability’ and ‘change’ under institutional theory. The field data illustrate how Citrus Lanka instigated evolutionary changes (towards better budgeting) rather than revolutionary changes (towards beyond budgeting), witnessing ‘stability’ of budgeting and ‘change’ towards better budgeting. This paper contributes by adding to the burgeoning budgetary control literature and extends the use of institutional
theory in management accounting research by espousing how the notions of ‘stability’ and ‘change’ can co-exist. The better budgeting practice presented in this paper is a pragmatic approach. It offers practitioner pointers to managers grappling with limitations of traditional budgeting and practical difficulties of beyond budgeting on improving budgetary control through better budgeting approaches. Such an understanding is useful for managers beyond the case study firm to those across different industries and nations in adapting to the ever-changing business environment by drawing on management accounting insights.
Keywords: Traditional Budgeting; Better Budgeting; Beyond Budgeting;Case Study; Stability; Change
Download: https://doi.org/10.52153/prj0725005
Stay In Touch