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Accounting for service charges in the UK commercial sector Barriers to change and the quest for best practice

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The purpose of this paper is to examine the issue of compliance with a voluntary
professional Code of Practice. It aims to take service charge management as its subject and it also to
discuss how current notions of “best practice” have evolved in order to explain the poor performance
uncovered. From this it seeks to derive an alternative perspective and develop a new framework for
managing agents to consider utilising in order to advance the generalised principles within the
existing RICS Code of Practice, Service Charges in Commercial Property.
Design/methodology/approach – The paper applies an inductive reasoning by applying best
practice from other disciplines (the specific) to commercial property (hence arguing for their adoption
to the general). It utilises a critical review of the secondary literature on the wider aspects of best
practice and original data on commercial service charge management to devise an ideal type
framework for accounting for service charge moneys.
Findings – It provides an idealised conceptual framework for managing agents to consider applying
to their management of the service charge process, specifically with regard to accounting issues
therein. The paper is not proposing a definitive adoption of accruals accounting, but provides an
analysis of the potential advantages – and problems. The intention of this work is to drive
consultation for better practice, rather than provide a de facto template for adoption.
Originality/value – The work relies on data previously generated by the authors, and produces an
original template and example for the practitioner. The work’s primary value is that it proposes an
innovative approach to the occupation of the commercial service charge manager. Within this, it also
offers advice to the wider profession on how to better regulate the discipline. While the proposed
approach offers advantages over the existing best practice paradigm, it generates its own conceptual
problems that will need to be considered by professionals.

Keywords Disclosure, Accounting, Service changes

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Informasi Detail

Judul Seri

Property Management

No. Panggil

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Penerbit

: Emerald Group., 2011

Deskripsi Fisik

Property Management Vol. 29 No. 1, 2011

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

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