Financial Disclosure by Australian Residential Aged Care Providers: Are They Suffering Dementia?

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avondale-bepress-to-dspace.facultyBusiness
avondale-bepress-to-dspace.peer_review_statusPeer reviewed before publication
avondale-bepress.abstract<p>Australia’s Residential Aged Care (RAC) Sector is significant in terms of its ageing population, which is consistent with most developed countries. It is therefore vital for stakeholders to have access to RAC providers’ financial information to make informed and timely decisions. It is often difficult for stakeholders to accurately compare the financial information of RAC providers due to there being a small timeframe to make decisions with a high emotional content. This research will enable RAC providers and their stakeholders to consider the current level of disclosure required and the level of voluntary disclosures providers in the sector choose to disclose, and whether this level of disclosure is adequate for stakeholders to make informed decisions. Information was gathered from the RAC provider's annual and/or financial reports, to determine their level of financial disclosure, over a three year period. It was found that the RAC providers’ level of financial disclosure could be more consistent and adequate by complying with the Australian Financial Reporting Framework, including an independent Audit Report. Hence, this research provides new insights and a basis for further research to determine whether the Australian RAC Sector have improved their consistency and adequacy of their financial disclosures through the use of the proposed RAC GPFR Framework.</p>
avondale-bepress.articleid1023
avondale-bepress.authorsErin Poulton
avondale-bepress.authorsLisa Barnes
avondale-bepress.authorsFrank Clarke
avondale-bepress.context-key13451893
avondale-bepress.coverpage-urlhttps://research.avondale.edu.au/bit_conferences/22
avondale-bepress.document-typeconference
avondale-bepress.field.author_faculty_disciplineBusiness
avondale-bepress.field.comments<p>Used by permission: International Business and Social Science Research Conference and the author(s).</p>
avondale-bepress.field.custom_citation<p>Poulton, E., Barnes, L., & Clarke, F. (2018, October). <em>Financial disclosure by residential aged care providers: Are they suffering dementia?</em> Paper presented at the International Business and Social Sciences Research Conference, Melbourne, Australia.</p>
avondale-bepress.field.embargo_date2018-12-09T00:00:00Z
avondale-bepress.field.field_of_education08 Management and Commerce
avondale-bepress.field.for150199 Accounting, Auditing and Accountability not elsewhere classified
avondale-bepress.field.peer_reviewBefore publication
avondale-bepress.field.proceedingsMelbourne International Business and Social Science Research Conference
avondale-bepress.field.publication_date2018-10-01T00:00:00Z
avondale-bepress.field.reportable_itemsE1
avondale-bepress.field.research_centreChristian Education Research Centre
avondale-bepress.field.source_publication<p>This conference paper was originally published as:</p> <p>Poulton, E., Barnes, L., & Clarke, F. (2018, October). <em>Financial disclosure by residential aged care providers: Are they suffering dementia?</em> Paper presented at the International Business and Social Sciences Research Conference, Melbourne, Australia.</p>
avondale-bepress.fulltext-urlhttps://research.avondale.edu.au/cgi/viewcontent.cgi?article=1023&amp;context=bit_conferences&amp;unstamped=1
avondale-bepress.keywordsDementia
avondale-bepress.keywordsFinancial Reporting
avondale-bepress.keywordsSustainability
avondale-bepress.keywordsTransparency
avondale-bepress.label22
avondale-bepress.native-urlhttps://research.avondale.edu.au/context/bit_conferences/article/1023/type/native/viewcontent
avondale-bepress.publication-date2018-10-01T00:00:00Z
avondale-bepress.publication-titleBusiness Conference Papers
avondale-bepress.statepublished
avondale-bepress.submission-date2018-12-09T21:46:09Z
avondale-bepress.submission-pathbit_conferences/22
avondale-bepress.titleFinancial Disclosure by Australian Residential Aged Care Providers: Are They Suffering Dementia?
avondale-bepress.typearticle
dc.contributor.authorClarke, Frank
dc.contributor.authorBarnes, Lisa
dc.contributor.authorPoulton, Erin
dc.date.accessioned2023-11-01T00:27:57Z
dc.date.available2023-11-01T00:27:57Z
dc.date.issued2018-10-01
dc.date.submitted2018-12-09T21:46:09Z
dc.description.abstract<p>Australia’s Residential Aged Care (RAC) Sector is significant in terms of its ageing population, which is consistent with most developed countries. It is therefore vital for stakeholders to have access to RAC providers’ financial information to make informed and timely decisions. It is often difficult for stakeholders to accurately compare the financial information of RAC providers due to there being a small timeframe to make decisions with a high emotional content. This research will enable RAC providers and their stakeholders to consider the current level of disclosure required and the level of voluntary disclosures providers in the sector choose to disclose, and whether this level of disclosure is adequate for stakeholders to make informed decisions. Information was gathered from the RAC provider's annual and/or financial reports, to determine their level of financial disclosure, over a three year period. It was found that the RAC providers’ level of financial disclosure could be more consistent and adequate by complying with the Australian Financial Reporting Framework, including an independent Audit Report. Hence, this research provides new insights and a basis for further research to determine whether the Australian RAC Sector have improved their consistency and adequacy of their financial disclosures through the use of the proposed RAC GPFR Framework.</p>
dc.description.versionBefore publication
dc.identifier.citation<p>Poulton, E., Barnes, L., & Clarke, F. (2018, October). <em>Financial disclosure by residential aged care providers: Are they suffering dementia?</em> Paper presented at the International Business and Social Sciences Research Conference, Melbourne, Australia.</p>
dc.identifier.urihttps://research.avondale.edu.au/handle/123456789/13451893
dc.language.isoen_us
dc.provenance<p>This conference paper was originally published as:</p> <p>Poulton, E., Barnes, L., & Clarke, F. (2018, October). <em>Financial disclosure by residential aged care providers: Are they suffering dementia?</em> Paper presented at the International Business and Social Sciences Research Conference, Melbourne, Australia.</p>
dc.rights<p>Used by permission: International Business and Social Science Research Conference and the author(s).</p>
dc.subjectDementia
dc.subjectFinancial Reporting
dc.subjectSustainability
dc.subjectTransparency
dc.titleFinancial Disclosure by Australian Residential Aged Care Providers: Are They Suffering Dementia?
dc.typeConference Publication
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