Intellectual capital reporting between a developing and developed nation

Author:

Abeysekera Indra

Abstract

PurposeThis paper aims to examine the patterns of intellectual capital reporting (ICR) of large listed firms in a developing nation, Sri Lanka. The aim of this study is to highlight the differences in ICR practice between developing and developed nations.Design/methodology/approachThe paper begins by examining each of the top 30 firms by market capitalization listed on the Colombo stock exchange in 1998/1999 and 1999/2000. Using the content analysis method, it reviews the annual reports of these firms to determine the types of intellectual capital (IC) items reported in Sri Lanka. It then compares these findings with a similar study undertaken in Australia during the same period.FindingsThe findings in this paper highlight the need for a uniform ICR definition and a reporting framework that provides comparative and consistent reporting under the auspices of a regulatory body. ICR differences were identified between Sri Lankan and Australian firms, and it is argued that these differences can be attributed to economic, social and political factors.Practical implicationsThis paper highlights important policy issues for Australia, Sri Lanka and other nations. These issues are even more pertinent in the light of the gradual international adoption of the International Financial Reporting Standards (IFRSs), formulated by the International Accounting Standards Board (IASB).Originality/valueMost papers on intellectual capital reporting have focused on firms in developed countries. This paper offers insights into comparative reporting practices between a developed and a developing country.

Publisher

Emerald

Subject

General Business, Management and Accounting,Education

Reference82 articles.

1. UNDP Sri Lanka (1998), National Human Development Report Sri Lanka 1998, Colombo.

2. ASCPA (Australian Society of CPAs) and CMA (The Society of Management Accountants of Canada) (1999), Knowledge Management: Issues, Practice and Innovation, Australian Society of Certified Practising Accountants, Melbourne.

3. Abbott, W.F. and Monsen, R.J. (1979), “On the measurement of corporate social responsibility: self‐reported disclosures as a method of measuring corporate social involvement”, Academy of Management Journal, Vol. 22 No. 3, pp. 501‐15.

4. Abeysekera, I. (2001), “A framework to audit intellectual capital”, Journal of Knowledge Management Practice, Vol. 2, August, available at: www.tlainc.com/jkmp.htm.

5. Abeysekera, I. (2007), “Motivations behind human capital disclosure in annual reports”, Critical Perspectives on Accounting (forthcoming)..

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