03. The Arab Journal of Accounting



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e-ISSN 2210-1454
DOI: dx.doi.org/10.12785/aja
Editor-in-Chief ​Dr. Abdulla Khalid Al-Jalahma
Frequency: 2 issues annually
Email: thearabiofacc@uob.edu.bh
No Publication Fee




​The Arab Journal of Accounting (AJA) is a semi-annual refereed journal. Its purpose is to publish research papers, commentary notes and book reviews that advance knowledge in all fields of accounting. Research papers should be analytical and empirically based.

To provide a balanced presentation of fields, perspectives and viewpoints, the journal solicits contributions from the fields of financial accounting, management accounting, auditing, accounting information systems, taxation, social and environmental accounting and accounting education.

    Editor in Chief
  • Dr. Abdulla Khalid Al-Jalahm

    • Managing Editor
  • ​Dr. Hessa Al-Fadhel

    • Editorial Board
  • Dr. Abdulmohsen Desoky
  • Dr. Gagan Kureja
  • Prof. Vijay Kumar Gupta
  • Prof. Gehan . Mousa
  • Prof. Tariq H. Ismail

    • Advisory Board ​
  • Prof. Khaled Hussainey
  • Prof. Turk Rai Alhmoud Alzughoul
  • Prof. Wael Elrashed
  • Prof. Ahmad Abu-Musa
  • Prof. Abdul-Rahman Ahmed Al-Muharfi
  • Prof. Ashrafi Khallaf
  • Dr Hasan Al Bastaki

Editorial Policy
The Arab Journal of Accounting (AJA) is a semi-annual refereed journal. Its purpose is to publish research papers, commentary notes and book reviews that advance knowledge in all fields of accounting. Research papers should be analytical and may be empirically based (including the use of survey, field study, or case study methods).
To provide a balanced presentation of fields, perspectives and viewpoints, the journal solicits contributions from the fields of financial accounting, management accounting, auditing, accounting information systems, taxation, social and environmental accounting and accounting education.

Submission Criteria
Submission of a paper to the (AJA) automatically implies that the manuscript is not concurrently under consideration for publication. Manuscripts should be double-spaced and should not normally exceed (35) pages (including tables, figures, appendices, notes and references). Three copies of the manuscript should be submitted on A4 paper and have consecutively numbered pages. Because the papers are refereed anonymously, they should bear no identifying marks of any kind, and only the title of the papers should appear at the top of the first page.
The cover page of the manuscript should include the title of the paper, name, title and address of the author(s), a telephone and fax number where possible, the E-mail address, and the academic or professional affiliations of the author(s). Included on the cover page should be the citation of acknowledgements and the name and address of the person to whom proofs should be sent.

Referees are asked to comment upon the originality, authority. comprehensiveness, contribution, interest and usefulness of a submitted paper. All papers are also subjected to editorial review which, whilst covering style and quality of communication, may also cover academic and scholarly content. The editor makes every effort to give a decision on manuscripts within (16) weeks of receipt.
Abstract. An abstract of about 100 words should be presented on a separate page immediately preceding the text. The title, but not the authors name or other identification designations, should appear on the abstract page and on the first page of the text. The abstract should concisely inform the reader of the manuscript's topic, its method and its findings.
Key Words. The abstract is to be followed by four key words that will assist in the indexing of the paper.
Tables and Figures. Each table and figure should appear on a separate page, be placed at the end of the text, and bear an Arabic number and a title. A reference should appear in the text to each table or figure. The author should indicate by marginal notation where each table or figure should be inserted in the text.
Footnotes should be used only where necessary to avoid interrupting the continuity of the text. They should be numbered consecutively using superscript Arabic numerals. They should appear at the end of the text, immediately before the list of references .
References cited in the text should include the surname of author(s), followed by year of publication and the relevant page numbers if required; e.g. (Gray and Roberts, 1988, p.6). For a citation authored by more than two persons, use the first author's surname and et al. (Horngren et al., 1997 p.37). References are to be shown in the text by the author's surname and year of publication enclosed in brackets. (e.g., Belkaoui, 1994, p.19); (Arens and Loebbecke, 2005). Multiple references by the same author(s) in a single year should be distinguished in the text (and in the references) by a, b, c etc. following the year of publication. Every manuscript must include a list of references containing only those works cited in the text, arranged in alphabetical order according to the surname of the first author, and placed at the end of the manuscript. Authors are required to use the following style:

Ramadhan, Sayel (1989). The Rationale for cost allocation: A study of U.K. Divisionalized companies, Accounting and Business Research, Vol. 20, No. 77.

Ramadhan, Sayel and Cummings, Richard (2011). Voluntary disclosure of environmental information by petrol stations in Bahrain: A legitimacy theory perspective, International Journal of Arts and Sciences, Vol. 4, No. 6.

Gray, Sidney J., Radebaugh, Lee. H. and Roberts, Clare B. (1990). International perceptions of cost constraints on voluntary information disclosures: a comparative study of UK and US multinationals, Journal of International Business Studies, Fourth quarter, pp.597-622.

Page Proofs will be sent for correction to a first-named author, unless otherwise requested; any alteration to the original text is strongly discouraged.
Research Instrument. In the case of manuscript reporting on field surveys or experiments, a copy of the instrument (questionnaire, case, interview, plan, or the like) should be submitted.
​Upon acceptance of a paper for publication, the author(s) will be requested to provide a diskette copy of the paper on a word processor. Authors will be requested to transfer copyright of their paper to the Arab Journal of Accounting upon acceptance for publication. In consideration for the assignment of copyright, the publisher will supply twenty off prints of each paper and two copies of the journal free of charge.
Correspondence: All correspondence should be made to the following address:

Editor-in-Chief
The Arab Journal of Accounting
University of Bahrain
College of Business Administration
P.O. Box (32038)
Manama-Kingdom of Bahrain


This journal is indexed by these worldwide databases:
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Start date: 1997End date: 1999

Search Results

Now showing 1 - 10 of 12
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    The Efficiency of the Reserve Finding Activities Of Oil and Gas Producers
    (University of Bahrain, 1999-05-01) Spear, Nasser A.
    In light of the recent decline in oil and gas prices, many oil and gas producers found it extremely difficult to survive and had to restructure their petroleum activities. In such an environment, efficiency became a concept of paramount importance. In the united state, oil and gas producers are not required to disclose measures about the efficiency of their oil and gas operations. Rather, under SFAS No. 96, these companies are only required to disclose aggregated costs date and to proved information about the efficiency of reserve quantum and reserve value and annual changes therein. Thus it is left up to the investment community to utilize the above publicly available disclosures to extract aggregated efficiency measures. Although these measures suffer from mismatch between cost incurred and reserve added in a common time period, they are used by investors to compare the performance of oil and gas producer over extended periods. This paper examines the value relevance of alternative publicly- available efficiency measures of 109 U.S. Producers by investigating the contemporaneous association between "raw" security returns and the alternative measures over the 1985-1994 sample period. That is, adapting the theoretical framework of Easton, Harries and Ohlson (1992), security return would be used as a benchmark against which to measure the value relevance of the alternative measures. The empirical results show that, after controlling for earning, these measures provide a good summary of the information which affected security price over the sample period. That is to say, these measures provide a good summary of the information which affected security price over the sample period. That is to say, these measures provide a good indication about the efficiency of the reserve finding activities of oil and gas producers in spots of the problem associated whit their calculation.
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    The Importance and Adequacy of Accounting Information for Investment Decisions: An Analytical Study of the Stock Market in the State of Kuwait
    (University of Bahrain, 1999-05-01) AlRashed, Wael Ibrahim
    Accounting plays an important role in business as it has a significant effect on financial disclosure and decision – making process. This paper has focused on the importance of published accounting information compared non-accounting information as for as the investors. A survey of investors and financial analysts' perceptions toward 26 variables was conducted form test for the highest significant variables in investment decision. Parametric as well as non-parametric techniques are used as appropriate in addition to a scrutiny of the literature. Results show that investors compared with financial analysts are more interested in present values and substantiated information such as market value of shaese and expected returns in addition to information related to future financial performance. Yet, both groups emphasize the need to disclose more accounting information especially those related to forecasting future performance. Moreover, there is a growing need for disclosing interim reports and encouraging the awareness in this direction.
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    The use of Causal Theory in predicting the Expectation Gap between Auditors and users of Financial Statements: An Empirical Study on Canal Governorates in Arab Republic of Egypt
    (University of Bahrain, 1999-05-01) Albaz, Mustafa Ali
    The research aims at the use of the Causal Attribution Theory in predicting the degree and the actual causes of the expectation gap in auditing as an attempt to motivate the scientific and professional institutions of accounting and auditing and Governorates to narrow that gap and also to realize a high credibility for the audit services. This is very important for purpose of economic globalization. The research revealed the relation between the causal theory and the Audit Expectation Gap. In addition, the study suggested a psychological and quantitative approach for improving causal theory predictions regarding the degree and causes of Audit Expectation Gap. The vital causes of Audit Expectation Gap are: deficient Audit standards, deficient Auditors' performance, and the need for special legal rules for Accounting and Auditing profession.
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    The Impact of Merger on the Performance of Jordanian Insurance Companies
    (University of Bahrain, 1999-05-01) AlSaaydah, Mansoor
    The study aimed at identifying the impact of the merger transactions that occurred in the Jordanian insurance market in the period of 1985-1989 on the operating and financial performance of merging companies. The study used annual data on 24 insurance companies that merged into 12 firms to test the different merger hypotheses, which assume operating and financial improvements as a result of merger. Using T and F (one-way ANOVA) tests, this study, as well as most other merger studies, did not find many positive effects of merger on merged firms. The specific findings of this study, however, are improved productivity, measured as employee's share of nit income, at a moderate significance level (0.076) and negative significant changes in operating activities concerning accounts receivable (I, e., Lower turnover and longer collection period). Most other ratios studied (debt capacity, profitability and miscellaneous performance indicators) have changed positively but not in a significant way.
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    The Usefulness of Accounting Information in Predicting Bankruptcy during Inflation Periods: Some Empirical Evidence
    (University of Bahrain, 1998-11-01) Aly, Ibrahim M.
    This research examines the usefulness of the historical cost (HC) information versus current cost (CC) information and the general price level (GPL) information signals in predicting business failure. The study also examines the usefulness of CC information versus GPL when each is used as a supplement to HC information. The study focuses on predicting bankruptcy through the use of financial ratios. A comparison of these financial ratios is made to identify the type of accounting information which yields the best predictions of bankruptcy. Twenty-six firms, which failed and filed a bankruptcy petition under the Federal Bankruptcy Act of USA laws chapter VII and chapter XI between 1979 and 1987 high inflation were selected. A set of twenty-six non-bankruptcy firms was selected for matched pair sample design. A multivariate statistical technique, multiple discriminant analysis (MDA) is used to derive the prediction results. Five functions are developed based on ratios computed with HC, GPL, CC, the combined HC/CC model. Them main results of the various analyses indicate that the combined HC/Cc model has more predictive power than does the (HC, the GPL, the CC, or the Combined) models in each of the three years before bankruptcy. Hence, the usefulness of current cost information presented in annual reports can not be denied.
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    The Stock Market Response to the introduction of International Accounting Standards in Jordan
    (University of Bahrain, 1998-11-01) Juhmani, Omar Isa
    This Research examines the effect of introducing international accounting standards (IASs) on the Jordanian Stock Exchange during the period 1990-1991. Literature on accounting standards in general and IASs in particular is reviewed for the likely effects of IASs adoption in Jordan> A research methodology is developed using data from Jordanian IAS adopting firms (experimental group) and IAS non-adopters (control group) for 100 and 1991 respectively> Sub-portfolios are then constructed representing the financial sector, the service sector, the industrial sector, low traded firms, heavily traded firms. Small firms, large firms, domestic-owned firms, foreign owned firms, winner firms and loser firms. For all samples and subsamples, abnormal returns (for IAS adopters and non adopters) are analysed using the traditional market model but also using an average return model and a raw return model. The observed market reactions are then compared with those anticipated (or claimed by supporters of IASs adoption in the literature). The main findings are that IASs adoption does increase the information content of financial statements (as observed in abnormal returns) but that reaction occurs mainly prior to accounts release. An exception to this general effect is large firms where IAS adoption does not have an observable effect on abnormal returns around announcement date. The research also provides evidence that IASs adoption has little influence on Jordanian domestic-owned firms' share price reactions but a considerable effect of foreign-owned firms' share prices.
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    Audit fees Determinants: Auditors and Clients Views.
    (University of Bahrain, 1998-11-01) Radhi, Mohammed Sami
    The purpose of this study is to examine the factors which effect audit fees as perceived by both auditors and their clients. The aim is to highlight the importance of each factor in determining audit fees. The study examined twenty five variables which are considered to be important in determining audit fees. Descriptive statistics and factor analysis were used to classify the importance of each factor. The study found that the most important factors in determining audit fees are: the time required to complete the audit, the size of audit firm and the level of business complexity.
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    Building Professional Skills in Accounting Education
    (University of Bahrain, 1998-11-01) AlRashed, Wael
    Accounting, as any other profession, is an ever developing profession increasingly contributing to economic prosperity. Development in the accounting profession, however, depends largely on the practice of public accountants among other factors. It is, therefore, paramount to investigate means of namely at the educational level. This study aims at investigating the role of the educational program in building accounting professional skills. Criticism of the educational program in this respect is surveyed. Statistical analysis of responses of a group of public accountants in Kuwait was examined. Finally, some recommendations and conclusions are briefly presented.
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    Proposed Framework for Accounting Development in the GCC Countries: A Comprehensive Perspective
    (University of Bahrain, 1997-11-01) Alraheeli, Awadh Salamah
    The attempt to set accounting and auditing standards in the style used in developed countries, particularly USA and UK, occupied a greater portion of the efforts made so far to develop accounting in these countries. It should be pointed out that the emphasis on the issue of standards means giving priority to external financial reports that basically aim to provide information for stock markets in developed countries, without taking into consideration the information needed for socio-economic development in developing countries, As we know that all the GCC countries have adopted a comprehensive development planning approach based on five-years development plans, and no doubt that the success of implementing and following up of these plans depend – among other things – on the availability of a dependable base of accounting information on both public and private sectors. I believe that the nature of the current accounting system in these countries dos not provide such information in a satisfying level, and accordingly it is essential to look seriously for an accounting system that can achieve this purpose. In addition to this there are other aspects of accounting that are not less important than the issue of standards – for example - accounting education, enterprise accounting, government accounting, and national accounting, All of these did not get enough attention - so far – in the efforts made to develop accounting in these countries. In my opinion any development in accounting in the GCC Countries must take into consideration all the aspects of the issue as a whole, because of the strong relationship between them. Based on that, this paper aims to highlight the latest developments in accounting in the GCC countries and evaluate it in the light of the socio-economic development needs of the countries, and as a result suggesting a framework by which accounting as a whole could be improved.
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    Credit Granting Decisions: An Empirical Investigation
    (University of Bahrain, 1997-11-01) Metawa, Saad A.
    Credit granting decisions have received widespread attention over the past two decades. Such popularity is due to the role of credit in financing economic activities. Previous credit granting decision models have used different borrower attributes – quantitative as well as qualitative- as explanatory variables. The results of these models provided insufficient evidence regarding the best set of variables which can be used in the prediction of the likelihood of granting credit. The purpose of this study as to examine the explanatory power of a set of financial attributes in the prediction of the likelihood of granting bank credit. The sample included 89 loan applications reviewed by three leading Bahraini banks during the 1986 – 1990 periods. The loan applications reviewed were limited only to business loans. A linear Probability Model (LPM) was developed to examine the simultaneous effect of the selected key financial ratios on the dependent variable. The results of the study indicated that the likelihood of granting bank credit can be predicted on the basis of the applicants' financial statement data. Furthermore, the results showed that the asset utilization ratio, debt level, debt paying capacity and working capital adequacy all have significant impact on the dependent variable. Finally a Tau statistic was used to compare the percentage of correct classification/ prediction produced by the LPM with those of a chance model. The results of the comparisons indicated that LPM can achieve better classification/ prediction accuracy than the chance model. The empirical evidence drawn from this study provides more support to the increasing role of the quantitative models in improving the managerial decision making process in the various types of organizations in general and in the banking industry in particular. Furthermore, the predictive accuracy of the LPM can be enhanced by adding more explanatory variables other than those used in the study such as cash flows/debt, earning stability, as well as some measures of the general economic conditions.