Gray, S. J.

Thumbnail Image
Preferred name
Gray, S. J.
Official Name
Gray, S. J.

Research Output

Filters

44
4
Reset filters

Settings

Now showing 1 - 4 of 4
  • Publication
    Accountants' reports on profit forecasts : regulation and practice
    (MCB University Press, 2000)
    Brennan, Niamh 
    ;
    Gray, S. J. 
    Profit forecasts are rarely disclosed in the UK except in prospectuses, circulars and during takeover bids. There are few regulations governing the content of profit forecasts. Under stock exchange rules these forecasts must be reported on by both reporting accountants and the merchant bankers advising on the deal. The format of the forecasts is at the discretion of individual companies. This paper summarises the regulations, including professional pronouncements, governing accountants’ reports on profit forecasts. Practical examples of such accountants’ reports extracted from 250 profit forecasts published during 701 UK takeover bids in the period 1988 to 1992 are reproduced and discussed. These examples provide useful precedent material for practitioners involved in reporting on a profit forecast. The paper concludes with a discussion of policy issues and suggestions for policy makers.
      1690
  • Publication
    The impact of materiality : accounting’s best kept secret
    (Asian Academy of Management (AAM) and Penerbit Universiti Sains Malaysia, 2005)
    Brennan, Niamh 
    ;
    Gray, S. J. 
    This paper comprises a review of the literature on materiality in accounting. The paper starts by examining the context in which materiality is relevant, and the problems arising from applying the concept in practice. Definitions of materiality from legal, accounting and stock exchange sources are compared. The relevance of materiality to various accounting situations is discussed. Methods of calculating quantitative thresholds are described and illustrated. Prior research is reviewed, focussing on materiality thresholds, and on the materiality judgements of auditors, preparers and financial statement users. The paper concludes with some suggestions for future research and for policy makers concerning this best kept accounting secret.
      3436