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Household financial stress is a persistent problem that can be exacerbated by shocks such as the COVID‐19 pandemic. This paper finds that assets are more important than income for explaining financial stress using the Household Expenditure Survey, conducted by the Australian Bureau of Statistics. Households in the bottom quintile for net assets are more likely to experience many dimensions of financial stress, with a magnitude of approximately 3 percentage points in most cases. Total income often has no identifiable impact on financial stress, all else equal, although the component of income based on investments may be a better predictor of financial stress. Further, there is a positive relationship between liabilities and financial stress. In addition, substantial financial stress is observable for recipients of payments for unemployment or disability, with lower impacts suggested for some other welfare groups. Three policy options are refining asset tests to provide higher benefits for low‐wealth households, raising benefits for particular welfare types including for those receiving unemployment and disability payments, and promoting financial literacy to avoid excessive liabilities. Financial stress likelihood varies across households. Those receiving unemployment or disability benefits are more likely to experience financial stress. Assets are more important than income in explaining financial stress. Refined policies for financial stress can therefore include higher benefits for some welfare types and greater reliance on assets in means testing. [ABSTRACT FROM AUTHOR]

Background and Purpose: Microcredit scheme was introduced to provide credit facilities for poor people to start a business activity. Microcredit creates income-generating self-employment activities that allow poor people to venture into small businesses and achieve economic independence. The scheme has been recognised as a successful tool to uplift the socio-economic status among the poor. Amanah Ikhtiar Malaysia (AIM) is the largest microfinance institution in Malaysia and therefore, its impact on the beneficiaries is crucial to be studied. This paper aims at reviewing the economic impact of AIM based on the existing literature. Methodology: Four electronic databases, which are Scopus, Science Direct, Springer and Ebscohost were used to search the literature. Subsequently 118 articles were generated from this search. However, only 13 articles which met the selection criteria were analysed. We selected only empirical studies that focused on the economic impact of AIM. Findings: Results of the review showed that income has dominated the economic impact assessment followed by asset, economic vulnerability and spending. Low concentration on the indicators other than income should be noted especially on spending as it provides a clear evidence that the recipients enjoy the economic well-being in terms of consumption expenditure. Contribution: This review reveals that microcredit has a great potential to uplift the economic status of the poor. [ABSTRACT FROM AUTHOR]

Financial statements as a specific form of general purpose financial reports provide information about the economic resources of the reporting entity, the claims against the entity and the changes in these resources and claims which correspond to the definitions of the elements of financial statements according to the Conceptual Framework of March 2018 (the Framework). The article illustrates, in outline, the information relationships between the items discussed in Chapter One and the five elements of the financial statements, i.e. assets, liabilities, equity, income and expenses, highlighting the changes in their definitions as compared with the previous Framework and the considerations (bases for conclusion) of the International Accounting Standards Board (IASB). Discussing the aspects of the definitions of an asset and an economic resource and the criteria for the existence of a liability, as well as the criteria for recognition of the five elements of the financial statements, the paper shows the direct relationship of the concept of the elements of the financial statements with the objective of financial reporting and the other concepts of the Framework. The article proposes a scheme of the relationships of the elements of the financial statements in the process of their recognition which illustrates the interconnectedness of the elements, the statement of financial position and the statement(s) of financial performance. [ABSTRACT FROM AUTHOR]

Women's self-help groups (SHGs) play an essential role in the fight against poverty. Despite this, studies on the impact of SHGs on women's asset accumulation and incomes tend to focus on rural and urban areas, with peri-urban areas receiving little attention. Consequently, to help fill this gap, using the after-only study design, this study investigates the contribution of SHGs to asset accumulation in Wa's peri-urban areas. A questionnaire and an observation guide were used to collect data from 199 SHG members. Thematic analysis was used to analyze qualitative data, while descriptive statistics, parametric and non-parametric methods were used to analyze quantitative data. Members were given loans, according to the study, but the repayment schedule was unfavourable. After joining SHGs, both productive and non-productive assets were acquired. Furthermore, those who took out loans and invested in income-generating ventures saw an increase in their earnings. In general, SHGs contributed to asset acquisition and income. SHG members should invest in productive assets to increase their incomes, according to the policy recommendation of this study. This study is unique because it focuses on SHGs in peri-urban areas, deviating from the norm by arguing that SHGs contribute to asset accumulation in those areas, thereby empowering members. [ABSTRACT FROM AUTHOR]

Abstract: The introduction of participatory forest management (PFM) may involve the exclusion of previous forest users from accessing forest resources. This is the case for PFM in the two Ethiopian pioneer sites, Dodola and Chilimo that represent two distinct PFM approaches in Ethiopia. This paper analyses how PFM, after controlling pre-PFM differences, affects members of forest user groups (FUGs) and non-members' total annual incomes, forest incomes, expenditures and livestock asset holdings. Income and asset data were collected from 635 randomly selected households. Data were analysed using propensity score matching models. Results show that in Dodola, where commercial timber harvest is allowed, the introduction of PFM means that FUGs have higher livestock assets and forest income than non-members. The average total income and the expenditure for members and nonmembers, however, were not significantly different. In Chilimo site, the result is the opposite —the introduction of PFM means that FUG members have lower total incomes and assets than non-members. Based on our findings we recommend that the PFM scaling up approaches in Ethiopia, which currently allow FUGs only subsistence use from forest resources, need to be revised. [ABSTRACT FROM AUTHOR]