This study examines the incidence and behaviour of managerial interventions in Australian firms to avoid reporting working capital deficits. We document a significant discontinuity in the distribution of current ratios at 1.0. We also find that the propensity of Australian firms to avoid working...

This study examines the heterogeneity of fiscal year-end choice in Australia. We document substantial differences in the ‘‘popularity'' of balance sheet dates over 1989-2010, and an increasing preference of June year-ends in recent years. 81% of Australian firms choose June to align with the...