EXEMPT PROPRIETARY COMPANY ANNUAL REPORTING REQUIREMENTS: PUBUC INTEREST OR BUREAUCRATIC EMPIRE-BUILDING?

Abstract: Australian small business enterprises, operated as exempt proprietary companies, are exposed to numerous statutory requirements. The Corporations Law Simplification Taskforce has proposed a number of changes with the stated objective of minimising the statutory burdens faced by small business. One of the recommendations of the taskforce is that most exempt proprietary companies be exempted from the requirement to supply key financial data in annual returns lodged with the Australian Securities Commission. This paper provides a review of the existing statutory responsibility for exempt proprietary companies to prepare annual returns including key financial data and lodge them with the ASC. A common justification offered for the introduction and continued maintenance of annual reporting requirements has been the protection of the public interest. The “public choice” theory of regulation provides alternative explanations for the regulation, including the promotion of producer interests or the promotion of the interests of the regulatory agency responsible for the administration of the legislation, the Australian Securities Commission, and other government departments such as Attorney-General's, Finance and Treasury. The existence of alternative explanations raises the possibility that the regulation is not motivated exclusively by the public interest. Indirect evidence of the usefulness of the annual reporting requirements was gathered with a consideration of the quality of the key financial data disclosed in annual returns. More than 40% of the annual returns lodged by a sample of exempt proprietary companies, during the years 1986 to 1989, contained key financial data which was inconsistent with being extracted from a properly prepared balance sheet (where assets minus liabilities equal shareholders' equity). The possibility that the maintenance of annual reporting requirements is not in the public interest, and the limited reliability of key financial data disclosures made, offers some support for the recent recommendations of the Corporations Law Simplification Taskforce that annual reporting requirements for small business enterprises be modified.     

Body image satisfaction,dieting beliefs,and weight loss behaviors in adolescent girls and boys

Body image and weight loss beliefs and behaviors were assessed in 341 female and 221 male high school students. Estimates of body dissatisfaction varied depending on the measurement strategy used. Despite having similar weight distributions around the expected norm, girls were significantly more dissatisfied with their bodies than boys. Body Mass Index was positively related to body dissatisfaction in girls and boys, while higher exercise levels were related to higher body satisfaction in boys. Nearly two-thirds of girls and boys believed being thinner would have an impact on their lives, but the majority of girls believed this would be positive while the majority of boys believed this would be negative. Thirteen percent of female subjects reported using one or more extreme weight loss behavior at least weekly. Beliefs regarding the effectiveness of different weight loss measures were assessed. Weight loss behaviors in this Australian sample appear similar to comparable U.S. samples.Received Ph.D. from University of Tasmania. Main research interest in body image, weight loss behaviors, and eating disorders.Received Ph.D. from University of Connecticut. Main research interest in body image, eating disorders and weight loss behaviors.Dietitian degree from Melbourne University, Melbourne. Main research interest in eating practices and clinical outcome.M.D. from University of Melbourne, D.P.M. from U.K. FRC Psych. Main research interests in eating disorders.B.B.Sc.(Hons.) received from La Trobe University, Melbourne, B.A. received from University of Minnesota, Duluth. Main research interest in attitudes and attributions.B.A. Received from University of Minnesota, Duluth. Main research interest in adolescence and eating disorders.     

Attributional style,depressive features,and self-esteem: Adult children of alcoholic and nonalcoholic parents

Undergraduate adult children of alcoholics (ACOAs; N=57) were compared to children of nonalcoholic parents (CONAs; N=100) on measures of the Beck Depression Inventory (BDI), selfesteem, and attributional style. ACOA status was determined using the Children of Alcoholics Screening Test (Jones, 1981). ACOAs were found to have significantly higher scores on the BDI and to have significantly lower self-esteem, as measured by the Index of Self-Esteem, than CONAs. ACOAs were also more likely to have a depressive attributional style, in that they perceived failure as more internal, stable, and global than CONAs. Further, females had significantly higher BDI scores than males.Received B.A. from West Virginia University. Research interests: adult children of alcoholics and human sexual behavior.Received Ph.D. from West Virginia University. Research interests: the impact of popular culture on adolescents and the impact of parental conflict on children.Received Ph.D. from University of Massachusetts. Research interests: adolescent suicide risk.     

Cycle avoiding trajectories,strategic agendas,and the duality of memory and foresight: An informal exposition

This paper considers the notion of cycle avoiding trajectories in majority voting tournaments and shows that they underlie and guide several apparently disparate voting processes. The set of alternatives that are maximal with respect to such trajectories constitutes a new solution set of considerable significance. It may be dubbed the Banks set, in recognition of the important paper by Banks (1985) that first made use of this set. The purpose of this paper is to informally demonstrate that the Banks set is a solution set of broad relevance for understanding group decision making in both cooperative and non-cooperative settings and under both sincere and sophisticated voting. In addition, we show how sincere and sophisticated voting processes can be viewed as mirror images of one another — embodying respectively, “dmemory” and “foresight.” We also show how to develop the idea of a “sophisticated agenda,” one in which the choice of what alternatives to propose is itself a matter of strategic calculation.     

Resources of supplemental security income recipients

In order to receive payments under the Supplemental Security Income (SSI) program, an aged, blind, or disabled person's countable resources must fall below specified limits. The current limits are +2,000 for an individual and +3,000 for a couple. In 1987, when the data were collected for this study, these limits were +1,800 for an individual and +2,700 for a couple. This study found that the resource levels of most SSI recipients were well below the 1987 limits. A majority of SSI recipients had less than +100 in countable resources, and only about 12 percent of SSI recipients had more than +1,000 of resources. These low levels of resources ensure that relatively few recipients become ineligible for SSI payments because of resource accumulation. The most common forms of countable resources held by SSI recipients were cash, checking accounts, and savings accounts.     

A study of Supplemental Security Income awardees

Since its enactment in 1974, the Supplemental Security Income (SSI) program has had a stable caseload of about 4 million recipients. Hidden by this unchanging total is the fact that nearly 9 million persons were served by the program from 1974 to 1986. This study explores some SSI program dynamics by following a group of SSI awardees for a period of 4 years from the initial receipt of award in 1981. Many of these awardees had previous contact with the program either through a previous award or a denial. About 60 percent of the awardees were eligible at the end of the 4-year period. Most persons who became ineligible did so within the first 6 months after the award.     

Family contexts of pubertal timing

This study examined the influence of pubertal timing upon family interactions in normal and psychiatric adolescent samples. An important feature of our approach is its emphasis upon micro-analysis of family behaviors (individual speeches) and family processes (theoretically specified speech pairings). Rather than assume that global family patterns (e.g., power) shift in response to pubertal changes, we follow how types of speeches and speech sequences are associated with different pubertal timing. Using the previously constructed family coding system, the Constrainig and Enabling Coding System, we found that on-time adolescents and their parents differed from both off-time groups (early or late). These results are discussed in terms of current implications and suggestions for future research.An earlier version of this paper was presented at the SRCD Study Group on Timing of Maturation, October, 1983, at the Education Testing Service, Princeton, NJ. This research was supported by NICHD Grant 1 R01 HD18684-01, and an NIMH Research Scientist Award (Dr. Hauser).Received his Ph.D. from Harvard University. Research interest is adolescent development within the family and impact of chronic illness on adolescent development and family interaction.Received her B.A. from Wellesley College. Research interests are in humor and attractiveness.Received his M.A. from Boston University. Research interests are in methodology and statistics.Received Ed.D. from Harvard University. Research interests are in adolescent development within the family, and family coping with stress.Received M.D. from University of Chicago. Research interests are in psychosocial aspects of diabetes.Received Ed.D. from Harvard University. Research interests are in developmental psychopathology, and moral and ego development.Received Ph.D. from Ohio State University. Research interests are in assessment of ego development and family systems.Received Ph.D. from University of Miami. Research interests are in family studies and adolescent development.     

The nuclear family: Correspondence in cognitive and affective reactions to the threat of nuclear war among older adolescents and their parents

In order to assess the relationship between family members' cognitive and affective responses to nuclear war issues, 317 college students and their parents (n=559) independently completed a multifaceted questionnaire that included items concerning personal reactions, predictions, opinions, and attitudes about nuclear war. Results revealed a negligible relationship between the responses of college students and their parents, although the level of concordance between mothers and fathers was somewhat greater. Moreover, parents and students were relatively poor at predicting each others' nuclear threat attitudes, and the strength with which an attitude was endorsed did not enhance its predictability. Results are discussed with regard to heterogeneity in attitudinal and affective reactions within families, and with regard to the idea that infrequent communication concerning nuclear war issues may be occurring.Portions of this article were presented at the meeting of the American Psychological Association, Los Angeles, California, August 25, 1985.Interested in clinical and counseling psychology, the psychological effects of the threat of nuclear war, and parent training.Interested in counseling psychology, nuclear war issues, and the concept-specific measurement of emotionality.Interested in counseling psychology, nuclear war issues, and factors influencing custody decisions.