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Title: An analysis of the comparability within the financial statements of Maltese band clubs
Authors: Vella, Paul (2014)
Keywords: Band clubs -- Malta
Financial statements -- Malta
Accrual basis accounting
Income accounting
Issue Date: 2014
Abstract: PURPOSE: This study examines the comparability within the financial statements of Maltese band clubs. The bases upon which financial information is prepared are analysed, together with the reasons why the treasurers use these bases. DESIGN: The research approach adopted was a qualitative one since the population of Maltese band clubs is relatively small. Initially, an onsite qualitative content analysis was carried out on the financial statements of Maltese band clubs. To corroborate the findings and to delve deeper into the financial issues encountered by band clubs, six semi-structured interviews were conducted with treasurers. FINDINGS: The major issue affecting the comparability of financial statements is the utilisation of the cash basis amongst the majority of local band clubs. Two main reasons justifying the treasurers' preferred treatment of the cash basis indicate that there is both a low level of accounting education of the treasurer and, a lack of understandability of financial statements by members if the accruals basis is used. The lack of enforcement of regulation on the part of the CVO does not help in improving the level of financial reporting and comparability of financial statements. CONCLUSIONS: Despite the widespread use of the cash basis, the accountancy profession encourages the implementation of accruals-based accounting for the preparation of financial statements of band clubs. For financial reporting amongst these clubs to be improved, it is important that band clubs are guided as to what is expected of them. There should be more collaboration between 'Għaqda Każini tal-Banda', the accountancy profession and the CVO to determine the best practice that band clubs should adopt in preparing financial statements, thus, enhancing the level of financial reporting and comparability. VALUE: This research discusses a number of issues that arise from the preparation of financial statements by local band clubs, which also apply to NPOs in Malta. The study contributes to the knowledge of financial reputation in the voluntary sector since the analysis and recommendations put forward can be examined by 'Għaqda Każini tal-Banda', the CVO and the accountancy profession for better financial reporting amongst NPOs in Malta.
Description: M.ACCTY.
Appears in Collections:Dissertations - FacEma - 2014
Dissertations - FacEMAAcc - 2014

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