We assess content, evolution and determinants of COVID-19 disclosures in accounting documents using natural language processing for TSX60 firms. We evaluate sentiment, extent of disclosure, choice of disclosure medium, links to governance, and the relationship with performance. We focus on accounting-related disclosures, an understudied aspect of corporate responses to the pandemic, and add to the choice of disclosure media literature. Our unique forward-looking longitudinal approach to understanding the content, evolution and determinants of COVID-19 corporate disclosures includes an evaluation of how these disclosures are affected by corporate governance and jurisdictional factors. Our findings include evidence of an inverse relationship between causal reasoning in disclosures and performance, with firms attributing poor performance to the pandemic across years, consistent with impression management.

We contribute to the accounting history and canal literature and the growing interest in environmental reporting by examining the philosophical approaches evident in the accountability documents of two historical canal projects, the Erie and Rideau Canals. We examine official records of the construction of these canals to identify sentences containing terms related to the environment and classify each sentence according to the environmental philosophy reflected. Of the three main streams of environmental ethics, we find evidence of both virtue ethics and utilitarian philosophical perspectives in the accounts, although the utilitarian perspective dominates. There is only sparse evidence of a deontological approach. We find differences in the ethical themes focused on each canal consistent with the degree of settlement nearby. We also find evidence of some common themes for both canals when analysed by the key phase of their planning and construction activities. We also consider the implications of these findings.

ABSTRACT This paper explores firms traded on the Toronto Stock Exchange (TSX) Venture Exchange and their voluntary disclosure practices by focusing on earnings press releases (EPRs). We compare the characteristics of EPR issuers and non‐issuers and investigate how the former group uses headline impression management in their EPRs to highlight firm performance. More precisely, we examine emphasis and tone management techniques in the headlines of over 1,300 EPRs by TSX Venture Exchange (TSX‐V) firms. Our results show that the main determinants of the EPR disclosure choice are the achievement of positive revenue, an increasing trend in firm market value, and industry type. We find that EPR issuers reinforce and repeat positive results in the headlines of EPRs and use positive tone management to highlight positive financial performance. Our results confirm the association between firm performance and strategic placement of performance results, while illustrating that the strength of this association varies by industry and by EPR characteristics such as EPR length and numerical intensity. Overall, this paper sheds light on TSX‐V firms, their disclosure practices, and potential violations of recommendations from regulators regarding avoiding exaggerated or promotional language in press releases.

This article examines whether firms' board gender diversity disclosures signal transparency, reveal impression management, or both. To disentangle the two disclosure motives further, we also investigate whether the disclosure features of clarity and tone are related to new women director appointments. Based on initial gender diversity disclosures of 506 Toronto Stock Exchange (TSX) publicly traded firms, our results suggest that firms committed to enhancing board diversity provide clearer disclosures and exhibit a higher level of “optimism” to signal their confidence in the positive outcomes of diversity. In contrast, firms reluctant to enhance their diversity policies engage in impression management through obfuscation and show the most “certainty” in their diversity disclosures to indicate no change to the status quo is required. We also find that tone optimism does translate into enhanced diversity practices while certainty is negatively related to subsequent diversity performance. Taken together, our findings are consistent with the assertion that firms employ a combination of signaling and impression management strategies in their disclosures about diversity practices.

The diversity disclosures by Canadian corporations are examined to show how references to ?merit? and ?diversity? are used strategically by many corporations to support the gendered status quo and to resist pressures to increase the representation of women on boards. References to ?merit? and ?diversity? in the first mandatory corporate governance diversity disclosures of a sample of corporations from the Toronto Stock Exchange are analyzed using critical discourse analysis to assess the extent to which these disclosures are used to legitimize current board recruitment practices and to maintain the gendered status quo. We find that corporations referring to merit in their disclosures tend to have fewer women directors than corporations that do not mention merit. In addition, we assess the readability of the disclosures. We find that those referring to merit tend to be less readable, suggesting efforts to obfuscate. This research highlights the patriarchal power structures underlying corporate board appointments and shows how these power relationships are revealed in the language corporations choose to use in their diversity disclosures. ?Gender?, ?diversity? and ?merit? are socially constructed concepts. Until the gendered roots of the language of merit-based policies are acknowledged, corporations have little incentive to challenge the status quo and engage substantively with diversity. Overcoming corporate resistance to change may require a range of innovative practices by corporations and regulators, up to, and possibly including, mandating levels of women?s representation on corporate boards. The diversity disclosures by Canadian corporations are examined to show how references to 'merit' and 'diversity' are used strategically by many corporations to support the gendered status quo and to resist pressures to increase the representation of women on boards. References to 'merit' and 'diversity' in the first mandatory corporate governance diversity disclosures of a sample of corporations from the Toronto Stock Exchange are analyzed using critical discourse analysis to assess the extent to which these disclosures are used to legitimize current board recruitment practices and to maintain the gendered status quo. We find that corporations referring to merit in their disclosures tend to have fewer women directors than corporations that do not mention merit. In addition, we assess the readability of the disclosures. We find that those referring to merit tend to be less readable, suggesting efforts to obfuscate. This research highlights the patriarchal power structures underlying corporate board appointments and shows how these power relationships are revealed in the language corporations choose to use in their diversity disclosures. 'Gender', 'diversity' and 'merit' are socially constructed concepts. Until the gendered roots of the language of merit-based policies are acknowledged, corporations have little incentive to challenge the status quo and engage substantively with diversity. Overcoming corporate resistance to change may require a range of innovative practices by corporations and regulators, up to, and possibly including, mandating levels of women's representation on corporate boards. (c) 2020 Elsevier Ltd. All rights reserved.

The emergence of an internal control system to guide operations along the Rideau Canal beginning in 1832 is examined through analysis of a book of directives (the Order Book) maintained by the lockmaster at the Isthmus lockstation. The Orders guided the work of the lockmaster and established general controls and control activities. Orders for adequate documents and records, physical control over assets and records, and proper authorization of activities were common. Orders are seen as efforts by British Royal Engineers, who were geographically removed from the oversight of the Rideau Canal Office, to discipline civilian lockmasters and to encourage lockmasters to govern themselves. Comparing the Order Book to Orders and Regulations in place in 1831 for the Royal Engineers also highlights similarities between expectations of Royal Engineers and those established for the civilian workforce under their direction, indicating a transfer of accounting technologies from the Royal Engineers to the civilian workforce.

We examine whether Asset Retirement Obligations (AROs) are value relevant to investors and credit market participants. Whereas prior research has examined the value relevance of environmental disclosures, we extend this line of inquiry by examining whether AROs are priced the same as other recognized liabilities that have less managerial discretion in their estimation. Using a sample of 1,076 mining and oil & gas observations for the equity market model, we provide evidence that even though AROs are value relevant, there is no distinction between AROs and other recognized liabilities. For the debt market, we find that the while AROs are priced by banks and affect companies’ credit ratings, their impact on interest rates and credit ratings is much less than that of other recognized liabilities.

AbstractA key area of research focuses on firms in transition, particularly those going public via initial public offerings, those growing via venture capital infusions, and acquirers and targets in merger and acquisition deals. In this article, we provide a review of research regarding firms in transition, with a primary focus on accounting‐related research. As part of our review we include key contributions both in the Canadian context and internationally, and discuss areas to be considered for future research.

A key area of research focuses on firms in transition, particularly those going public via initial public offerings, those growing via venture capital infusions, and acquirers and targets in merger and acquisition deals. In this article, we provide a review of research regarding firms in transition, with a primary focus on accounting-related research. As part of our review we include key contributions both in the Canadian context and internationally, and discuss areas to be considered for future research.

We assess the research publication productivity of Canadian-based accounting researchers in highly ranked accounting journals for the 2001–13 period. Our research provides important benchmarks for use by individual researchers and universities for matters such as promotion and tenure decisions. For example, each Canadian-based faculty member had approximately 0.50 of a weighted article for the 13-year period, and 45 percent of all accounting faculty members published at least once in a top-10 accounting journal. We also provide an overview of the type of research being published by Canadian-based researchers in each of the top-10 journals (financial accounting, managerial, audit, tax or other) and we assess how productivity at top-10 journals has changed over time. In supplemental analysis, we compare and contrast the productivity of the 15 male and 15 female academics that publish most in top-10 accounting journals to assess the breadth of outlets being used beyond top-10 outlets (including FT 45 journals, accounting journals ranked “A”, “B”, and “non-A/B”; non-accounting peer-reviewed journals, non-peer-reviewed outlets). The supplemental analysis also helps to shed light on the finding from this paper, and prior research, that women are less likely to be represented on lists of those with most publications in highly ranked accounting journals, by comparing the two groups of researchers across a variety of institutional and other factors.

We assess the research publication productivity of Canadian-based accounting researchers in highly ranked accounting journals for the 2001–13 period. Our research provides important benchmarks for use by individual researchers and universities for matters such as promotion and tenure decisions. For example, each Canadian-based faculty member had approximately 0.50 of a weighted article for the 13-year period, and 45 percent of all accounting faculty members published at least once in a top-10 accounting journal. We also provide an overview of the type of research being published by Canadian-based researchers in each of the top-10 journals (financial accounting, managerial, audit, tax or other) and we assess how productivity at top-10 journals has changed over time. In supplemental analysis, we compare and contrast the productivity of the 15 male and 15 female academics that publish most in top-10 accounting journals to assess the breadth of outlets being used beyond top-10 outlets (including FT 45 journals, accounting journals ranked “A”, “B”, and “non-A/B”; non-accounting peer-reviewed journals, non-peer-reviewed outlets). The supplemental analysis also helps to shed light on the finding from this paper, and prior research, that women are less likely to be represented on lists of those with most publications in highly ranked accounting journals, by comparing the two groups of researchers across a variety of institutional and other factors.

This fictional case is based on a Canadian public company that produces greenhouse vegetables. Focusing on the differences between International Financial Reporting Standards (IFRS) and Canadian Accounting Standards for Private Enterprises (ASPE), this case provides students an opportunity to (1) apply IFRS in a real world setting; (2) prepare and reconcile financial statements under ASPE and IFRS; (3) analyze the impact of IFRS adoption on key financial ratios; and (4) detect and explain differences in financial statements under ASPE and IFRS through common size analysis.

This fictional case is based on a Canadian public company that produces greenhouse vegetables. Focusing on the differences between International Financial Reporting Standards (IFRS) and Canadian Accounting Standards for Private Enterprises (ASPE), this case provides students an opportunity to (1) apply IFRS in a real world setting; (2) prepare and reconcile financial statements under ASPE and IFRS; (3) analyze the impact of IFRS adoption on key financial ratios; and (4) detect and explain differences in financial statements under ASPE and IFRS through common size analysis.

Integrative research into Corporate Annual Report (CAR) disclosures is undertaken by simultaneously examining financial performance, Letters to Shareholders (LTS) and photographs of a large Canadian grocery retailer (Loblaw Companies Limited). The Company’s use of impression management is assessed by examining disclosures across three years, two leaders and in periods of profit and loss. We find evidence of impression management in LTS, photographs of executive leaders, CAR cover photographs, and the framing of financial performance. Overall, voluntary disclosures provide incremental information that supports and supplements mandatory disclosures. We conclude that impression management in voluntary disclosures helps to legitimate the change in leadership at Loblaw.

Accounting PerspectivesVolume 14, Issue 3 p. 151-153 Introduction Introduction to Special Issue on IFRS Bruce McConomy, Bruce McConomy Guest Editor Accounting PerspectivesSearch for more papers by this authorClaude Laurin, Claude Laurin Editor-in-Chief Accounting PerspectivesSearch for more papers by this author Bruce McConomy, Bruce McConomy Guest Editor Accounting PerspectivesSearch for more papers by this authorClaude Laurin, Claude Laurin Editor-in-Chief Accounting PerspectivesSearch for more papers by this author First published: 21 September 2015 https://doi.org/10.1111/1911-3838.12050Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume14, Issue3Special Issue: IFRS Adoption and Related Topics / Numéro spécial consacré à l'adoption des IFRS et aux enjeux connexesSeptember 2015Pages 151-153 RelatedInformation

Prior research suggests that managers may use earnings management to meet voluntary earnings forecasts. We document the extent of earnings management undertaken within Canadian Initial Public Offerings (IPOs) and study the extent to which companies with better corporate governance systems are less likely to use earnings management to achieve their earnings forecasts. In addition, we test other factors that differentiate forecasting from non-forecasting firms, and assess the impact of forecasting and corporate governance on future cash flow prediction. We find that firms with better corporate governance are less likely to include a voluntary earnings forecast in their IPO prospectus. In addition, we find that while IPO firms use accruals management to meet forecasts; the informativeness of the discretionary accruals depends on whether or not the firm would have missed its forecast without the use of discretionary accruals.

PurposeThis paper seeks to analyze the use of metaphor in the 1997‐2006 letters to shareholders (LTS) of Nortel Networks Corporation (Nortel). It aims to assess the prevalence of metaphor and changes in the use of metaphor as turnover in corporate leadership took place and as Nortel's financial fortunes changed.Design/methodology/approachMetaphors in the LTS are part of a corporation's voluntary disclosures, which in turn may be used for impression management purposes. The paper uses discourse analysis, in particular quantitative and qualitative content analysis, of the LTS to identify key metaphors and to evaluate changes in the prevalence of these metaphors across corporate leaders and during phases of growth and decline.FindingsSeveral key metaphors are identified in Nortel's letters to shareholders, including science, journey, vision, construction and theatre. Evidence is also found that demonstrates changes in the prevalence of metaphors across various chief executive officers, and changes in the meaning of metaphors in periods of growth and decline.Originality/valueThe contribution of the paper is to highlight the use of metaphor in the voluntary disclosures (i.e. letters to shareholders) of a major North American corporation during a turbulent decade. The preferences of four very different CEOs are reflected in their choice of metaphor, supporting arguments that metaphor is used in voluntary disclosures as a means of impression management, particularly in relation to trends in corporate financial performance.

This case provides an example of a high technology company that is expanding and is facing cash flow constraints. It details financial reporting issues relating to the company's most recent set of financial statements. It requires students to assume the role of a newly appointed auditor, to prepare a report analyzing the key issues and to provide advice to the owners of the Company. Students are faced with a set of integrated financial accounting and reporting issues. The case incorporates some overview audit issues, but it is most suitable as a capstone case in intermediate financial accounting, for use in either undergraduate or MBA courses.

This case provides an example of a high technology company that is expanding and is facing cash flow constraints. It details financial reporting issues relating to the company’s most recent set of financial statements. It requires students to assume the role of a newly appointed auditor, to prepare a report analyzing the key issues and to provide advice to the owners of the Company. Students are faced with a set of integrated financial accounting and reporting issues. The case incorporates some overview audit issues, but it is most suitable as a capstone case in intermediate financial accounting, for use in either undergraduate or MBA courses.