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Articles 1 - 30 of 46
Full-Text Articles in Business
Fin 48: The Impact On Staffing, Internal Control Processes And Expertise Of Privately-Held Companies, Reed Kirschling, Michael Akers
Fin 48: The Impact On Staffing, Internal Control Processes And Expertise Of Privately-Held Companies, Reed Kirschling, Michael Akers
Michael D. Akers
While FASB Interpretation 48 (FIN 48), Accounting for Uncertainty in Income Taxes-An Interpretation of Statement of Financial Accounting Standards (SFAS) 109, Accounting for Income Taxes applies to both privately-held and publicly traded companies, privately-held companies have characteristics that can impact implementation. This paper reports the findings of a survey of the top 100 privately-held companies to determine how these organizations are addressing the staffing of tax department personnel, process controls and knowledge acquisition during the implementation of FIN 48.
International Perception Of Corruption, Bina Menon, Michael Akers
International Perception Of Corruption, Bina Menon, Michael Akers
Michael D. Akers
The discussion of corruption and bribery in most auditing textbooks focuses only on the Foreign Corrupt Practices Act which is an amendment to the Securities Exchange Act of 1934. As the US moves toward the implementation of International Financial Reporting Standards (IFRS) and international auditing standards, an understanding of international legislation pertaining to corruption and the perception of corruption in specific countries are important. This paper provides an overview of the Foreign Corrupt Practices Act (FCPA) and the Organization for Economic Co-operation and Development (OECD) Anti-bribery Convention. While prior literature has discussed the impact of both the FCPA and OECD …
Review Of Modern Auditing, Michael Akers
Narcissism In Public Accounting Firms, Michael D. Akers, Don E. Giacomino, Jill Weber
Narcissism In Public Accounting Firms, Michael D. Akers, Don E. Giacomino, Jill Weber
Michael D. Akers
Similar to other characteristics, narcissism is a personality trait that varies by individuals. While the management literature has examined narcissism, there is limited research of narcissism of professionals in public accounting firms. Using the Narcissistic Personality Inventory (NPI), we assess the level of narcissism in practitioners of public accounting firms by examining differences by gender, age, practice area and position. We also compare our results with a prior study that examined narcissism of accounting majors. Our findings show there are differences between accounting students and accounting professionals for certain traits and gender. We also find there are differences for professionals …
An Empirical Examination Of The Factors Affecting The Success Of Ncaa Division I College Basketball Teams, Michael D. Akers, Shaheen Wolff, Thomas E. Buttross
An Empirical Examination Of The Factors Affecting The Success Of Ncaa Division I College Basketball Teams, Michael D. Akers, Shaheen Wolff, Thomas E. Buttross
Michael D. Akers
The Cobb-Douglas production function, regression analyses, and discriminant analyses are used to examine the factors affecting the success of Division I men's basketball teams in the National Collegiate Athletic Association (NCAA). Data were obtained for 229 teams. The results indicate that important factors in success are 2-point field-goal percentage, rebounds, steals, 3-point field-goal percentage, turnovers, and personal fouls. Variables that distinguish winning teams from losing teams are 2-point field-goal percentage, turnovers, prior years' winning percentage of the head coach, free-throw percentage, steals, and rebounds. The results also indicate that the production function of the teams exhibit increasing returns to scale.
Information And Accountants In The Role Of Strategic Planning, Michael D. Akers, Grover L. Porter
Information And Accountants In The Role Of Strategic Planning, Michael D. Akers, Grover L. Porter
Michael D. Akers
This article on strategic planning practices is based upon a field study of five world-class companies. The strategic planning practices discussed in this article were extracted from the corporate environment. The information contained in this article, however, is of value alike to CPAs assisting with the enhancement of strategic planning practices in corporations and public accounting firms.
Internal Audit, Sarbanes-Oxley And Athletic Departments: An Examination And Recommendations For Reform, Michael Akers, Gregory Naples
Internal Audit, Sarbanes-Oxley And Athletic Departments: An Examination And Recommendations For Reform, Michael Akers, Gregory Naples
Michael D. Akers
During the past fifteen to twenty years the integrity of intercollegiate athletics has been seriously questioned as a result of an increased awareness of problems associated with institutional controls over athletic departments. Limited empirical evidence has been used in the debate regarding institutional controls pertaining to the athletic department. This paper provides empirical evidence regarding the use of the internal audit function as an institutional control. Our findings indicate that while the internal audits of athletic departments are adequate, the communication of these audit results is inadequate. We also discuss the applicability of recent legislation, Sarbanes-Oxley Act of 2002, to …
An Empirical Examination Of The Usefulness Of The Motley Fool's "Flow Ratio", Don Giacomino, Michael D. Akers
An Empirical Examination Of The Usefulness Of The Motley Fool's "Flow Ratio", Don Giacomino, Michael D. Akers
Michael D. Akers
An item in the Motley Fool recently caught our attention. The article “Cisco vs. Lucent: The Flow Ratio Tells All” (by Matt Richey, June 6, 2000, in The Motley Fool.fool.com), introduced a new ratio that Richey claimed to be useful for measuring the investment worthiness of a company. Since our Financial Statement Analysis course covers traditional ratio analysis and since we were exploring some research ideas on measuring liquidity, the Fool Ratio seemed worthy of investigation
Underreporting Chargeable Time: A Continuing Problem For Public Accounting Firms, Michael D. Akers, Charles T. Horngren, Tim V. Eaton
Underreporting Chargeable Time: A Continuing Problem For Public Accounting Firms, Michael D. Akers, Charles T. Horngren, Tim V. Eaton
Michael D. Akers
Prior research shows that underreporting chargeable time has been a concern for public accounting firms even though many of these firms have policies and procedures that prohibit "eating" time. The purpose of this study is to examine the current state of this problem and to provide recommendations to manage the problem more effectively. Practicing public accountants at all professional levels were surveyed to determine the extent, opportunity, ethical perception and perceived benefits of underreporting time. The results show that although the majority of the respondents believe underreporting time is unethical, the majority of them did not report all of their …
Strategic Planning At Five World-Class Companies, Michael D. Akers, Grover L. Porter
Strategic Planning At Five World-Class Companies, Michael D. Akers, Grover L. Porter
Michael D. Akers
Most successful executives know that strategic planning offers the best way to deal with their changing world. Information is central to successful strategic planning. A field study of 5 world-class companies revealed details regarding information used for strategic planning and the role of management accountants in this process. Key executives were interviewed at: 1. Johnson Controls, 2. Coors Brewing Co., 3. Schering-Plough, 4. Xerox, and 5. 3M Company. The executives were interviewed to find out how their companies did strategic planning. Issues addressed included the distinction between strategic and long-range planning, the strategic planning process, information used for strategic planning, …
Boards Of Advisors In Small Businesses: An Empirical Profile Of Their Composition And Use, Michael D. Akers, Don Giacomino
Boards Of Advisors In Small Businesses: An Empirical Profile Of Their Composition And Use, Michael D. Akers, Don Giacomino
Michael D. Akers
This article discusses the literature coverage on Boards of Advisors to date and provides the results of a study designed to determine the formation and composition of Boards of Advisors and the ways in which small businesses use such boards. Our study surveyed the Chief Executive Officers or Presidents of a large sample of small businesses. We found that there is very limited use of Boards of Advisors in small businesses and that many small business managers are not aware of the concept of a Board of Advisors. However, those small business managers (97%) that use a Board of Advisors …
A Review Of Bankruptcy Prediction Studies: 1930-Present, Jodi L. Gissel, Don Giacomino, Michael D. Akers
A Review Of Bankruptcy Prediction Studies: 1930-Present, Jodi L. Gissel, Don Giacomino, Michael D. Akers
Michael D. Akers
One of the most well-known bankruptcy prediction models was developed by Altman [1968] using multivariate discriminant analysis. Since Altman's model, a multitude of bankruptcy prediction models have flooded the literature. The primary goal of this paper is to summarize and analyze existing research on bankruptcy prediction studies in order to facilitate more productive future research in this area. This paper traces the literature on bankruptcy prediction from the 1930's, when studies focused on the use of simple ratio analysis to predict future bankruptcy, to present. The authors discuss how bankruptcy prediction studies have evolved, highlighting the different methods, number and …
An Examination Of The Differences Between Personal Values And Value Types Of Female And Male Accounting And Nonaccounting Majors, Michael Akers, Don Giacomino
An Examination Of The Differences Between Personal Values And Value Types Of Female And Male Accounting And Nonaccounting Majors, Michael Akers, Don Giacomino
Michael D. Akers
Research has shown that a person's values affect his or her behavior. While there has been considerable research regarding the ethical perceptions and behavior of business students, there has been limited research regarding the personal values that affect such perceptions and behavior. This study was designed to determine the differences between values and value types of accounting and nonaccounting majors, as well as differences between values and value types of males and females. The values survey questionnaire developed and validated by Schwartz (1992) was used for this study. The instrument, containing 56 values, was administered to business students in three …
Personal Values Of Certified Internal Auditors, Michael Akers, Don Giacomino
Personal Values Of Certified Internal Auditors, Michael Akers, Don Giacomino
Michael D. Akers
Internal auditors are being asked to assist in the development of codes of conduct and to audit ethical compliance and thus are expected to adhere to strict standards of behavior. It is, therefore, important for the Institute of Internal Auditors and other organizations to understand the personal values that underlie behavior in order to determine whether internal auditors' values are consistent with the Standards of Conduct. This article reports the results of a study, which focuses on the personal values of certified internal auditors. The study's main purpose is to determine if the personal values and value systems of CIAs …
An Examination Of Personal Values And Value Systems Of Chinese And U.S. Business Students, Don Giacomino, Xin Li, Michael D. Akers
An Examination Of Personal Values And Value Systems Of Chinese And U.S. Business Students, Don Giacomino, Xin Li, Michael D. Akers
Michael D. Akers
Using the Rokeach Value Survey and the Musser and Orke typology this paper examines the personal values and value systems of business students in China and compares the results with the results of a recent study that used similar methodology to examine the values and value systems of U.S. students. The study also examines the differences in values and value systems of the Chinese students by gender and by major. While there are few differences for the Chinese students by gender, our findings show several differences in the rankings of values by the Chinese and U.S. students as well as …
Designing And Implementing An Accounting Assessment Program, Michael Akers, Don Giacomino, James Trebby
Designing And Implementing An Accounting Assessment Program, Michael Akers, Don Giacomino, James Trebby
Michael D. Akers
The Accounting Department at Marquette University responded to the desire to improve processes and to external pressures by designing and implementing an assessment program. The selection and involvement of the assessment team, the development of the 6 intended student outcomes, the establishment of the quantifiable goals, the development of the measurement tools used to evaluate the goals, and the identification of mechanisms used to provide feedback are examined. Results of the implementation indicate that improvement is needed in the following areas: oral communication skills, business writing skills, and microcomputer skills.
Internal Audit's Role In Systems Development: The Ceo's Perspective, Meredith Maher, Michael Akers
Internal Audit's Role In Systems Development: The Ceo's Perspective, Meredith Maher, Michael Akers
Michael D. Akers
For the past 30 years, the development of the role and management's expectations of the internal audit function as related to information technology has been an evolutionary process. A sample of CEOs were surveyed to ascertain their opinions on internal audit's involvement in systems development, including whether internal auditors' independence is compromised by such involvement and whether auditors should act as consultants for systems development projects. The prevailing sentiment among the CEO respondents was that internal auditors should be involved primarily in testing the accuracy of the systems being developed. A comparison of CEOS' and chief audit executives' opinions shows, …
An Examination Of The Use Of The Board Balanced Scorecard By Large Public Corporations, Qianhua Ling, Don Giacomino, Michael Browne, Michael D. Akers
An Examination Of The Use Of The Board Balanced Scorecard By Large Public Corporations, Qianhua Ling, Don Giacomino, Michael Browne, Michael D. Akers
Michael D. Akers
While the Balanced Scorecard (BSC) developed by Norton and Kaplan has gained global prominence as a management tool and there is qualitative accounting literature that discusses the benefits of the Board BSC, there is limited empirical evidence that examines the use of the Board BSC. We surveyed Chairs of large public companies to determine the extent to which they use the Board BSC and the reasons why. Our findings suggest that the Board BSC is currently not a widely used technique by Boards of Directors. We also found that the Sarbanes-Oxley Act of 2002 wasn't an influencing factor for those …
Personal Values Of Japanese Business Managers, Don E. Giacomino, Michael D. Akers, Atsushi Fujita
Personal Values Of Japanese Business Managers, Don E. Giacomino, Michael D. Akers, Atsushi Fujita
Michael D. Akers
Researchers have spent many years examining the Japanese business culture, but there is limited empirical evidence about the personal values of Japanese business managers. The research of these authors confirms some previous conclusions, but also might detect new attitudes in Japan at the dawn of the 21st century.
Underreporting Of Chargeable Time: The Impact Of Gender And Characteristics Of Underreporters, Michael D. Akers, Tim V. Eaton
Underreporting Of Chargeable Time: The Impact Of Gender And Characteristics Of Underreporters, Michael D. Akers, Tim V. Eaton
Michael D. Akers
No abstract provided.
Cpas' Perceptions Of The Impact Of Sas 99, Donald C. Marczewski, Michael D. Akers
Cpas' Perceptions Of The Impact Of Sas 99, Donald C. Marczewski, Michael D. Akers
Michael D. Akers
In November 2002, the Auditing Standards Board (ASB) issued Statement on Auditing Standard 99, Consideration of Fraud in a Financial Statement Audit. Although SAS 99 was developed before the recent accounting scandals, its release came in their wake. The ASB crafted SAS 99 in response to perceived inadequacies in its predecessor, SAS 82. A questionnaire was sent to a random sample of 300 Wisconsin CPAs selected from the membership of the Wisconsin Institute of CPAs, which included 150 partners and 150 managers from Wisconsin public accounting firms. The response rate was 35%, with an almost equal balance of partners and …
An Examination Of Management Accountants’ Use And Perception Of Expert Systems, Michael D. Akers, Robert E. Jordan, Grover L. Porter
An Examination Of Management Accountants’ Use And Perception Of Expert Systems, Michael D. Akers, Robert E. Jordan, Grover L. Porter
Michael D. Akers
Although there has been a number of articles written about the possible use of expert systems by management accountants, there has been limited research to support such predictions. The primary purposes of this paper are to examine management accoun-tants’ use and perceptions of expert systems. A survey instrument was designed to eli-cit responses (Likert scale and open-ended) about management accountants' perceptions of the current and future use of expert systems and to determine their knowledge, interest and involvement with such systems. The findings of this study indicate that although respondents are moderately interested and involved with expert systems, they have …
Your Eq Skills: Got What It Takes?, Michael D. Akers, Grover L. Porter
Your Eq Skills: Got What It Takes?, Michael D. Akers, Grover L. Porter
Michael D. Akers
Your EQ skills: got what it takes? So you thought the CPA exam was your last test? Read on. Question: Is success in life and career determined primarily by rational intelligence (the IQ or intelligence quotient) or emotional intelligence (the EQ or emotional quotient)? In other words, what's more important: intelligence or intuition? Historically the professional accounting literature has placed little emphasis on behavioral issues such as EQ, although human behavior underlies most of what is written and taught about professional accounting. Now managers place increased value on behavioral skills that help people in the workplace. Look at this statistic: …
Ethics And The Accountants’ Code Of Conduct, Michael D. Akers, Don Giacomino
Ethics And The Accountants’ Code Of Conduct, Michael D. Akers, Don Giacomino
Michael D. Akers
Although the AICPA has established the Professional Code of Conduct to deal with the behavior of CPAs, research has also shown that an individual's behavior is affected by his or her personal values. While there has been considerable research of the ethical behavior of business professionals and business students, there has been limited research of the personal values of public accountants. This study was designed to examine the values and value types underlie the ethics of Big Six public accountants. A survey instrument, consisting of 56 values, developed and validated by Schwartz was administered to audit and tax professionals at …
The Ethics Of Managing Short-Term Earnings: Business Managers And Business Students Rate Earnings Management Practices – Implications For Academia, Don Giacomino, Jodi L. Gissel, Michael D. Akers
The Ethics Of Managing Short-Term Earnings: Business Managers And Business Students Rate Earnings Management Practices – Implications For Academia, Don Giacomino, Jodi L. Gissel, Michael D. Akers
Michael D. Akers
In 1990, Bruns and Merchant surveyed the readership of the Harvard Business Review (HBR). Their survey asked HBR readers to rate the acceptability of earnings management practices. Prior to that study, researchers and accounting practitioners paid little attention to the morality of short-term earnings management. However, in the wake of highly publicized financial frauds and failures, the profession and academic journals have emphasized the importance of the concepts of earnings quality and earnings management. The Bruns and Merchant survey provided 13 earnings management situations and asked the HBR readers to rate the acceptability of those practices. In this study, we …
Using Benford's Law To Detect Fraud In The Insurance Industry, Meredith Maher, Michael D. Akers
Using Benford's Law To Detect Fraud In The Insurance Industry, Meredith Maher, Michael D. Akers
Michael D. Akers
Benford's Law is the mathematical phenomena that states that the first digits or left most digits in a list of numbers will occur with an expected logarithmic frequency. While this method has been used in industries such as oil and gas and manufacturing to identify fraudulent activity, it has not been applied to the health insurance industry. Since health insurance companies process a large number of claims each year and these claims are susceptible to fraud, the use of this method in this industry is appropriate. This paper examines the application of Benford's Law to four health insurance companies located …
What Is Fraud And Who Is Responsible?, Michael D. Akers, Jodi L. Gissel
What Is Fraud And Who Is Responsible?, Michael D. Akers, Jodi L. Gissel
Michael D. Akers
Research shows that fraudulent activity affecting the financial statements is more prevalent than ever despite the increased attention devoted to the prevention and detection of fraud by companies and professional accountants. Fraud is a critical issue for preparers and users of financial statements, as well as auditors. Each group’s association and involvement with the financial statements is from a slightly different perspective. Even though all individuals in the financial reporting process share the responsibility for the integrity of the financial statements, different perspectives of fraud can and do affect each group’s interpretation of fraudulent activity and responsibility for the prevention …
Personal Values Profiles And Value Types Of The Most Influential People In Accounting, Don Giacomino, Michael Akers
Personal Values Profiles And Value Types Of The Most Influential People In Accounting, Don Giacomino, Michael Akers
Michael D. Akers
This chapter reports on the results of a study of values of the most influential people in accounting. The study measures the personal values and value types of people included in the 100 most influential people in accounting in Accounting Today and managing partners in the largest 100 public accounting firms. We also compare the results of our study with those of a study of exemplary physicians' values. Both studies found that the influential accountants and exemplary physicians rate Power and Influence very low among their personal values. We also compared our study with other studies that we have conducted …
Weighing The Public Interest, Jodi L. Gissel, Don Giacomino, Michael Akers
Weighing The Public Interest, Jodi L. Gissel, Don Giacomino, Michael Akers
Michael D. Akers
In 1981, the AICPA addressed the issue of going concern status through SAS 34, The Auditor's Considerations When a Question Arises About an Entity's Continued Existence. In 1988, the AICPA issued SAS 59, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, which remains the authoritative guidance. To determine if additional guidance on the topic of going concern is provided by accounting organizations, the authors contacted the AICPA and the state CPA societies. The authors found that none of these organizations provide additional literature or guidance in this area. Several individuals have criticized the current literature …
Applying Sarbanes-Oxley Principles To Colleges And Universities, Sean Goins, Don Giacomino, Michael D. Akers
Applying Sarbanes-Oxley Principles To Colleges And Universities, Sean Goins, Don Giacomino, Michael D. Akers
Michael D. Akers
In the wake of the financial scandals that have occurred in the corporate sector, the public is demanding more accountability not only from corporations but also from nonprofit organizations such as universities. Institutions can enhance corporate governance by implementing some of the principles and procedures the Sarbanes-Oxley Act of 2002 (SOX) have mandated for public companies. Because public accounting firms audit universities, the firms can provide a valuable service to such clients by recommending ways in which universities can implement SOX practices that are appropriate and applicable. Although SOX does not currently apply to colleges and universities, it has created …