Research article

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Management accounting and control systems ? unnecessary evils to innovation? Wila-sini Wongkaew Pages 1 - 21    Download PDF  Article preview Cite Abstract Traditionally, management control systems, including management accounting and controls, are often perceived as hindrance to innovation. Formalisation of management control practices is usually considered inhibitive to creativity, learning and risk-taking behaviour, which are important for innovation development. However, in this paper, it is argued that if designed and used appropriately, management control systems can be flexible and dynamic, supporting unpredictable needs of innovation. Simons? (1995) four levers of control are proposed as a framework for managers to consider when designing and using variety of management control systems. With appropriate mix of four levers of control, which is also compatible with informal practices and culture of the organisation, it is argued that the organisation can create enabling form of controls, which will help foster continuous innovation.
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The Application of Fair Value Measurement Principles in Property, Plant, and Equipment Recognition Visarut Sribunnak, Pavinee Manowan and Natchanont Komutputipong Pages 22 - 32    Download PDF  Article preview Cite Abstract Financial reporting standards call for fair value measurement of financial statement components without a clear definition that is universally accepted and consistent with the measurement and recognition principles in other pronouncements. In 2011, the IASB has issued the International Financial Reporting Standards (IFRS) No.13, Fair Value Measurement, in order to provide the universally-accepted definition and the fair value measurement principles. However, the definition and principles set forth have resulted in inconsistencies in the application of other IFRS pronouncements. This article addresses theoretical and practical issues in applying the definition and in implementing fair value measurement in conformity with the Thai Accounting Standard No. 16, ?Property, plant and equipment?.
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Integrated Sourcing Process: Case Study of Oil Refinery Phimpawee Patiwarato and Siri-on Setamanit Pages 33 - 62    Download PDF  Article preview Cite Abstract In current business environment, it is realized that strategic sourcing is one of the key drivers to create competitive advantage by reducing overall cost and providing differentiation. The primary purpose of this study is to develop an integrative strategic sourcing process model for oil refinery based on strategic sourcing theories, related papers and best practices. In this study, the process model was verified and validated through interviews with procurement personnel. Resulting from implementation, firm will benefit from lower total cost of ownership to source Process Instrumentation products and services. The final conclusion of this study is that establishment of strategic sourcing process could benefit firm in terms of systematic sourcing approach improvement and overall cost reduction. Keywords: Strategic Sourcing, Strategic Procurement, Sourcing, Procurement
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The Public?s Evaluation of Socially Responsible Companies: Evidences from Bangkok Patnaree Srisuphaolarn Pages 63 - 93    Download PDF  Article preview Cite Abstract This paper investigates the public?s perception of socially responsible corporations and how it evaluates socially responsible and socially irresponsible companies. A qualitative interview survey of four hundred seventy-one subjects was conducted in Bangkok area. The findings show that the public considers the term responsibility to include two more terms, accountability and contribution. A firm must be accountable for its everyday operations and take corrective action when operations go wrong. The large, highly-stable, and financially sound company should contribute consistently to society to render a concrete outcome and be labeled as socially responsible. A contribution to society may be necessary but not sufficient condition in the eyes of the public. A description of a socially responsible company is more convincing when public opinion is taken into account. A corporate socially responsible (CSR) continuum could be constructed to describe actions from socially irresponsible to socially responsible, including a list of the minimum requirements necessary to refrain from being labeled socially irresponsible. A practical definition of CSR contributes to strategic CSR planning and budgeting that small- and medium-sized businesses could apply. In addition, this study uses a computer program to code large-scale qualitative data collected in a non-English language.
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AEC 2015: I Thailand ready to be e-ASEAN Leader? Siriluck Rotchanakitumnuai Pages 94 - 113    Download PDF  Article preview Cite Abstract The objective of this research is to develop the e-ASEAN readiness assessment framework, and to analyze whether Thailand is ready to be the leader of e-ASEAN when compared to other ASEAN member states. The result shows that Thailand was ranked by several institutes at the lower level than Singapore and Malaysia in every index concerning e-Readiness Assessment. Moreover, Thailand is ranked in the lower position than Brunei in several indexes (Electronic Government Development Index, Networked Readiness Index, Global Competiveness Index). The research result reflects the issues aligned with the e-Readiness framework that Thailand needs to urgently improve when comparing to other ASEAN member states for Thailand?s economy, and society development.