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Articles 1 - 30 of 34
Full-Text Articles in Business
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 …
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.
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 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 …
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 …
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 …
Fraud Requirements In Ssars 10, Michael D. Akers, Jodi L. Gissel
Fraud Requirements In Ssars 10, Michael D. Akers, Jodi L. Gissel
Michael D. Akers
With the issuance of Statement on Standards for Accounting and Review Services (SSARS) 10, Performance of Review Engagements, which is effective for review engagements for periods ending on or after Dec 15, 2004, the AICPA Accounting and Review Services Committee requires accountants performing review engagements to make inquiries regarding fraud. Furthermore, the management representation letter must address fraud. The authors reviewed the comment letters that the AICPA received in response to the exposure draft for SSARS 10 and conducted a survey of practitioners after the statement was issued. SSARS 10 amends SSARS 1, Compilation and Review of Financial Statements, primarily …
Interviewing The Client, Michael D. Akers, Robert Yahr
Interviewing The Client, Michael D. Akers, Robert Yahr
Michael D. Akers
This paper examines an assignment where students taking either an introductory auditing students or an accounting communications course interview a client to gain an understanding of internal control and the interview process. Students document the results of the interview in a memorandum. The paper provides detailed information regarding the design and implementation of a portion of the internal control system. The three main objectives of the assignment are 1) to provide students with the opportunity to demonstrate, develop, and enhance their communication skills; 2) to convey a realistic picture of the accounting environment; and 3) to familiarize students with a …
A Review Of Going Concern Prediction Studies: 1976 To Present, Jodi L. Gissel, Don Giacomino, Michael D. Akers
A Review Of Going Concern Prediction Studies: 1976 To Present, Jodi L. Gissel, Don Giacomino, Michael D. Akers
Michael D. Akers
In 1962, the Securities and Exchange Commission (SEC) was the first to address going concern issues with Accounting Series Release (ASR) No. 90. Then, in 1963, the AICPA issued Statement on Auditing Procedures (SAP) No. 33, in response to ASR No. 90. Both ASR No. 90 and SAP No. 33 addressed qualifications for issues that were unresolved and the results of which were indeterminable at the statement date. Soon after the issuance of Statement on Auditing Standards (SAS) No. 2 in 1974, researchers began to conduct studies on going concern issues. This paper provides a comprehensive review of the literature …
Revisiting Financial (Accounting) Literacy: A Comparison Of Audit Committee Members And Business Students, Don Giacomino, Joseph Wall, Michael D. Akers
Revisiting Financial (Accounting) Literacy: A Comparison Of Audit Committee Members And Business Students, Don Giacomino, Joseph Wall, Michael D. Akers
Michael D. Akers
While financial literacy is important for an audit committee in discharging its duties there is no authoritative guidance or definition and limited empirical research as to what constitutes financial literacy of audit committees and business students. Coates et al. conducted a study that examined the financial literacy of corporate board members and MBA students at the University of Chicago using an instrument developed by Schipper and WeiL Their findings suggest that both groups lack the appropriate level of financial literacy. This paper extends that research by using the same instrument to examine the financial literacy of undergraduate accounting finance students …
Earnings Quality: It's Time To Measure And Report, Jodi L. Gissel, Don Giacomino, Michael D. Akers
Earnings Quality: It's Time To Measure And Report, Jodi L. Gissel, Don Giacomino, Michael D. Akers
Michael D. Akers
Earning's quality is an important aspect of evaluating an entity's financial health, yet investors, creditors, and other financial statement users often overlook it. Earnings quality refers to the ability of reported earnings to reflect the company's true earnings, as well as the usefulness of reported earnings to predict future earnings. The SEC and the investing public are demanding greater assurance about the quality of earnings. There is significant need for the development of a uniform definition and a consistent model to measure earnings quality. An Earnings Quality Assessment (EQA) is a proposed model that is consistent with this definition. The …
Internal Auditor Participation In Systems Development Projects, Meredith Maher, Michael D. Akers
Internal Auditor Participation In Systems Development Projects, Meredith Maher, Michael D. Akers
Michael D. Akers
There are differing viewpoints in the internal auditing literature regarding the role of internal audit in systems development projects. One argument is that internal audit should act as consultants for such projects. A counter argument is that if internal auditors act as consultants this could impair in dependence. This study surveyed chief audit executives to determine their perceptions of the role of internal audit in systems development projects as well as the actual involvement of their departments in such projects. The findings show that chief audit executives place more importance on internal audit acting as consultants and less importance on …
Whistleblowing And Good Governance, Tim V. Eaton, Michael D. Akers
Whistleblowing And Good Governance, Tim V. Eaton, Michael D. Akers
Michael D. Akers
The Sarbanes-Oxley Act of 2002 (SOX) has forever changed corporate governance for publicly held corporations. Recent data suggest that the costs of compliance with the provisions of SOX can be very significant. Problems exist in the government and nonprofit sectors just as they do in the corporate sector. Recent alleged problems at the World Bank include kickbacks, payoffs, bribery, embezzlement, and collusive bidding. In 2002, the United Way scandal came to the public's attention. Its aftermath has had a dramatic impact on fundraising. Even universities are not immune from scandals. Organizations of all kinds should better understand what whistleblowing is, …
Narcissism And Accounting Majors, Jill C. Brown, Michael D. Akers, Don Giacomino
Narcissism And Accounting Majors, Jill C. Brown, Michael D. Akers, Don Giacomino
Michael D. Akers
Narcissism is a personality trait that varies in individuals much like other characteristics. Accordingly, narcissism can positively or negatively impact the leadership style and career of business leaders. While personality research has examined the level of narcissism in college-aged students over the past 30 years, only recently has limited research examined narcissism in business students. Prior research has not examined accounting students. Using the Narcissistic Personality Inventory (NPI), we assess the level of narcissism in accounting students at a public and private institution in the Midwest. Our findings show accounting students have a lower level of narcissism than other business …
An Examination Of Underreporting Of Time And Premature Signoffs By Internal Auditors, Qianhua Ling, Michael D. Akers
An Examination Of Underreporting Of Time And Premature Signoffs By Internal Auditors, Qianhua Ling, Michael D. Akers
Michael D. Akers
The passage of the Sarbanes-Oxley Act of 2002 (SOX) heightened the importance of internal controls and accordingly, a key control - the internal audit junction. Consequently, management and external auditors have both increased their reliance on internal auditors' work. While there has been considerable research regarding the impact of the underreporting of time and premature sign-offs on the external audit, there has only been one study that has examined the impact of these two items on the internal auditors' work. Such research is dated (1994) and prior to the passage of SOX. We surveyed members of the Institute of Internal …
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 (SF AS) 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.