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Accounting

William D. Terando

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Full-Text Articles in Business

It's Just A Game, Or Is It? Real Money, Real Income, And Real Taxes In Virtual Worlds, William D. Terando, Brian E. Mennecke, Diane J. Janvin, William M. Dilla Aug 2010

It's Just A Game, Or Is It? Real Money, Real Income, And Real Taxes In Virtual Worlds, William D. Terando, Brian E. Mennecke, Diane J. Janvin, William M. Dilla

William D. Terando

Virtual worlds like Second Life offer players opportunities to earn real-world income through their activities in the game. It will not be long before governments begin to establish policies and regulations regarding the income generated by players of these game environments. This paper examines the issue of taxes in virtual world games. Two alternative places for recognizing income could be established by regulators: 1) at the point when in-game transactions take place; or 2) when players convert game assets into real-world currency. We argue for realization of income, and therefore taxation, at the exchange. We expect that burdensome policies such …

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Are Jct Analyses Of Tax Change Proposals Useful To Individual Taxpayers?, William Terando, R. Gary, M. Boullian Jul 2008

Are Jct Analyses Of Tax Change Proposals Useful To Individual Taxpayers?, William Terando, R. Gary, M. Boullian

William D. Terando

No abstract provided.

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The Impact Of Accounting Rule And Economic Differences On The Issuance Of Cash And Share-Puts, William Terando, W. Shaw, R. Gary Feb 2008

The Impact Of Accounting Rule And Economic Differences On The Issuance Of Cash And Share-Puts, William Terando, W. Shaw, R. Gary

William D. Terando

No abstract provided.

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Taxation Policy In Virtual Worlds: Issues Raised By Second Life And Other Unstructured Games, William Terando, Brian Mennecke, William Dilla, Diane Janvrin Dec 2007

Taxation Policy In Virtual Worlds: Issues Raised By Second Life And Other Unstructured Games, William Terando, Brian Mennecke, William Dilla, Diane Janvrin

William D. Terando

Massively Multiplayer Online Economic Games involving the creation and trade of virtual goods are rapidly gaining in popularity. Although most individuals participate for their own social or entertainment purposes, a substantial number of participants rely on the sale of virtual goods as an important source of real wealth. To date, these economic returns have largely escaped taxation due to the lack of a well-developed body of tax law in this area. This paper examines whether and when taxes should be assessed on virtual world income. We conclude that an in-game sale of a virtual asset constitutes an income realization event …

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Valuation And Classification Of Company Issued Cash And Share-Puts, William Terando Dec 2006

Valuation And Classification Of Company Issued Cash And Share-Puts, William Terando

William D. Terando

This paper examines whether investors’ valuations of cash and share-put warrants are influenced by their potential differential effect on firm solvency. It is motivated by the enactment of SFAS 150, which requires that all contingent put warrant obligations be classified as balance sheet liabilities regardless of put type. Consistent with the critics of SFAS150, we show that market participants differentially value cash and share-puts based on their solvency characteristics beyond the firm’s recorded assets and liabilities. Our results add to existing capital structure literature by suggesting that complex financial instruments (such as cash and share-puts) be reported separately from each …

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Valuation And Classification Of Cash And Share-Puts, William Terando, W. Shaw, D. Smith Jul 2006

Valuation And Classification Of Cash And Share-Puts, William Terando, W. Shaw, D. Smith

William D. Terando

No abstract provided.

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The Impact Of The Stock-For-Debt Exception On Corporate Bankruptcy Restructurings, William Terando, W. Shaw Jul 2005

The Impact Of The Stock-For-Debt Exception On Corporate Bankruptcy Restructurings, William Terando, W. Shaw

William D. Terando

No abstract provided.

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