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2018

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Institution
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Articles 1 - 30 of 163

Full-Text Articles in Accounting

How America Permitted The Great Recession, Robert A. Moss Iii Dec 2018

How America Permitted The Great Recession, Robert A. Moss Iii

Honors Program Theses and Projects

Many people have thrown out many ideas as to how the Great Recession happened. Some blame the banks, some blame the system, and others blame the lawmakers. The truth is much more complicated, and many different events lined up to make it happen. The essential fact is that there would likely have been a recession in the 2000s as a result of the commodities price recession of the 90s. What made the recession bad enough to be called the Great Recession was the gradual de-regulation that occurred after Glass-Steagal. Primarily, this paper will deal with the laws surrounding the banking …

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A Tale Of Two Embas, Mark J. Cowan, Kathy Hurley Dec 2018

A Tale Of Two Embas, Mark J. Cowan, Kathy Hurley

Accountancy Faculty Publications and Presentations

In this report, Cowan and Hurley review, and draw planning lessons from, two recent Tax Court opinions on the deductibility of Executive Master of Business Administration program tuition and related costs.

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Reynolds, William Russell, Jr., 1878-1955 (Mss 656), Manuscripts & Folklife Archives Dec 2018

Reynolds, William Russell, Jr., 1878-1955 (Mss 656), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscripts Collection 656. Collection of daybooks with daily entries of financial transactions for the Reynolds Brothers Store in Cave City, Kentucky. Books include daily sales at the store and include the purchaser’s name, items purchased and their prices.

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Section 199a: Job Creator Or Tax Giveaway?, Rodney P. Mock, David G. Chamberlain Dec 2018

Section 199a: Job Creator Or Tax Giveaway?, Rodney P. Mock, David G. Chamberlain

Accounting

In this report, Mock and Chamberlain discuss section 199A and its inconsistencies regarding job creation policy.

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Professional Skepticism: Practitioners’ Perceptions And Training Practices, Jodi L. Gissel Dec 2018

Professional Skepticism: Practitioners’ Perceptions And Training Practices, Jodi L. Gissel

Accounting Faculty Research and Publications

While regulators criticize auditors for lacking appropriate professional skepticism (SEC, 2010, 2013; PCAOB, 2012), auditing standards lack a clear, consistent definition (Nelson, 2009; Hurtt, Brown-Liburd, Earley, & Krishnamoorthy, 2013), leaving application of professional skepticism “open to interpretation” (Glover & Prawitt, 2013, p. 2). If individual auditors view professional skepticism as open to interpretation (i.e., subjective), auditors may believe they are appropriately applying standards on professional skepticism based on their individual interpretations. However, if regulators apply a different definition of professional skepticism when reviewing auditors’ work, this may help explain ongoing criticisms from regulators stating auditors lack appropriate professional skepticism. The …

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Societal Trust And Corporate Tax Avoidance, Kiridaran Kanagaretnam, Jimmy Lee, Chee Yeow Lim, Gerald Lobo Dec 2018

Societal Trust And Corporate Tax Avoidance, Kiridaran Kanagaretnam, Jimmy Lee, Chee Yeow Lim, Gerald Lobo

Research Collection School Of Accountancy

Using aninternational sample of firms from 25 countries and a country-level index for societal trust, we document that societal trust is negatively associated with tax avoidance, even after controlling for other institutional determinants, such as home country legal institutions and tax system characteristics.We explore the effects of two country-level institutional characteristics—strength of lega linstitutions and capital market pressure—on the relation between societal trust and tax avoidance. We find that the relation between trust and tax avoidance is less pronounced when legal institutions in a country are stronger and is more pronounced when capital market pressure is stronger. Finally, we examine …

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Online Learning Tool On External Financing Needs, Yuanto Kusnadi Dec 2018

Online Learning Tool On External Financing Needs, Yuanto Kusnadi

Research Collection School Of Accountancy

In collaboration with colleagues at the Centre ofTeaching Excellence (CTE), I have developed an innovative online learningobject on External Financing Needs. This tool is designed to introduce a noveland refreshing way in teaching accounting and finance concepts to students andto create a more interactive learning experience in the classroom. The online learning tool is used in the two courses:Accounting for Entrepreneurs and Financial Management, to explain the relevantconcepts related to financial forecasting and financial planning. One unique feature about the learning object is that itprovides instantaneousfeedback to students as they can learn whether the numbers theyprovide are correct/wrong (as indicated …

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The Impact Of Country-Level And Firm-Level On Financial Performance: A Multilevel Approach, Wafaa Salah Dec 2018

The Impact Of Country-Level And Firm-Level On Financial Performance: A Multilevel Approach, Wafaa Salah

Business Administration

The objective of this study is to demonstrate the relative importance of both firm-level and country-level on financial performance. In addition, to explore the influence of firm-level variables (Accounting standards, firm age, firm size, liquidity) together with country-level variables (GDP per capita, inflation rate, development status, human development index, country openness to trade) on financial performance. Financial performance is measured in this study by Return on Assets. Hierarchical Linear Modeling is employed to identify the components of firm performance variability. This study employs a sample of 4095 publicly listed industrial firms from 54 countries listed on stock exchange covering the …

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How The Introduction Of Streaming Has Changed The Financial Focal Points Of The Music Industry, Nathan Kiss Nov 2018

How The Introduction Of Streaming Has Changed The Financial Focal Points Of The Music Industry, Nathan Kiss

Senior Honors Theses

For this thesis, the gathered research will demonstrate how the introduction of music streaming has made a monumental impact on the music industry and the financial effect it has had on various aspects of the creation and distribution of recorded music. The areas of research will range from the music labels in charge of producing and providing the music to the streaming services in charge of distributing the music. Focus will be on how music streaming developed in the late 1990s and took the music media world by storm, devaluing and diluting the power of the physical music industry in …

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Ideological Diversity In Standard Setting, Jivas Chakravarthy Nov 2018

Ideological Diversity In Standard Setting, Jivas Chakravarthy

Accounting Faculty Articles and Research

I explore whether the level of ideological diversity among Financial Accounting Standards Board (FASB) members has declined since the emergence of their conceptual framework. I analyze votes made by FASB members on Statements of Financial Accounting Standards and compare them to comment letters submitted by constituent sponsoring organizations. I demonstrate that, relative to the Pre-CF regime (1973–1986), FASB members’ voting positions in the CF regime (1987–2007) are (i) less like their constituent sponsors and (ii) more like one another. The former result is primarily attributable to differences between FASB members with auditor and preparer backgrounds and those groups’ sponsors. Both …

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Data Analytics For Accounting Mac 511, Andree J. Rathemacher Nov 2018

Data Analytics For Accounting Mac 511, Andree J. Rathemacher

Library Impact Statements

No abstract provided.

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Are The Recent Restatements Of Financial Institutions 10k’S Due To The Perceived Earning Volatility Caused By Sfas 161?, Veliota Drakopoulou Nov 2018

Are The Recent Restatements Of Financial Institutions 10k’S Due To The Perceived Earning Volatility Caused By Sfas 161?, Veliota Drakopoulou

Publications

The goal of this research was to investigate the controversy surrounding the inability of SFAS 133 an amendment of SFAS 161 to portray the economics of hedging. This research examined whether or not BHCs’ design of hedge effectiveness tests was determined by the concern of the additional earnings volatility possibly evolved from economic hedges that do not qualify for hedge accounting. The results implicate that most BHCs after the amendment of SFAS 161 reassessed their risk management approach to one that is more accounting responsive to ensure that most hedges are highly effective to qualify for hedge accounting. The findings …

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Don's Column: Revised Conceptual Framework For Financial Reporting (Part 2), Pearl Hock-Neo Tan Nov 2018

Don's Column: Revised Conceptual Framework For Financial Reporting (Part 2), Pearl Hock-Neo Tan

Research Collection School Of Accountancy

Fresh Perspectives in Recognition, Measurement and Disclosures

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Studying The Relationship Between Performance And Z-Scores For Manufacturing Firms In Singapore, See Liang Foo, Shaakalya Pathak Nov 2018

Studying The Relationship Between Performance And Z-Scores For Manufacturing Firms In Singapore, See Liang Foo, Shaakalya Pathak

Research Collection School Of Accountancy

Singapore is a key leading economy in the Asia Pacific region. This study examines the relationship between the financial health, as measured by the Altman Z-Score, and corporate performance, as measured by the Return on Equity (ROE), of listed manufacturing companies in this market. A linear regression has been conducted between these variables to determine the magnitude and direction of their relationships. The trends of Z-Scores over a five-year period have also been analysed.The analysis covers the period from 2013 to 2017 (inclusive) and yields a statistically positive correlation between ROE and the Z-Score for the market. Singapore registered relatively …

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Ohio Leed Schools And Academic Performance: A Panel Study, 2006–2016, Allen Prindle, Ryan P. Thombs Oct 2018

Ohio Leed Schools And Academic Performance: A Panel Study, 2006–2016, Allen Prindle, Ryan P. Thombs

Business, Accounting and Economics Faculty Scholarship

This study investigates the effect that Leadership in Energy and Environmental Design (LEED) had on academic performance using a difference-in-differences (DID) estimator using data from the years 2006–2016. By obtaining data from the Ohio Department of Education and the Ohio Facilities Construction Commission, this investigation examines the effect that LEED design had on the Student Performance Index for schools that opened in the year 2012. Each LEED school was matched with a non-LEED school based on several criteria. The study determined that LEED did not have an impact on the Student Performance Index. Though we find no relationship, green schools …

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How To Reduce The Tax Bill Of A Multinational Technology Company?, Dimitrios V. Siskos Oct 2018

How To Reduce The Tax Bill Of A Multinational Technology Company?, Dimitrios V. Siskos

Publications

It is said that nothing in this world is certain except for death and taxes. For those with clever accountants, however, the latter can be kept to a minimum. Particularly, companies seek to minimize their tax liability through "tax planning", adopting deductions, rebates, exemptions and other “legal” tools that the domestic tax system provides to them. However, while tax planning is considered to be quite logical in the terms of making profit, there is a grey area between this and "tax avoidance”. This paper suggests a legitimate tax plan for a multinational technology company that minimizes its tax obligations1, without …

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The Future Of Employee Collective Action Waivers, Douglas O. Smith Oct 2018

The Future Of Employee Collective Action Waivers, Douglas O. Smith

Accounting Faculty Research and Publications

No abstract provided.

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Pendleton Family - Account Books (Mss 649), Manuscripts & Folklife Archives Oct 2018

Pendleton Family - Account Books (Mss 649), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscripts Collection 649. Five account books for a grist mill and saw mill located in East Fork, Metcalfe County, Kentucky, as well as logging operations. The account books list wages paid for daily work as well as for piece work (handles). Employees were sometimes paid in cash, but most of the wages were paid in flour, mill, or other general store goods. Some of the accounts are for customers, not employees.

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Washington County, Kentucky - Merchants (Mss 648), Manuscripts & Folklife Archives Oct 2018

Washington County, Kentucky - Merchants (Mss 648), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscripts Collection 648. Account books for three general stores in Springfield, Kentucky. Two stores are identified: Cunningham & Nall Store and William Blackwell Store.

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A New Method Of Measuring Financial Risk Aversion Using Hypothetical Investment Preferences: What Does It Say In The Case Of Gender Differences?, A. Seddik Meziani, Elliot Noma Oct 2018

A New Method Of Measuring Financial Risk Aversion Using Hypothetical Investment Preferences: What Does It Say In The Case Of Gender Differences?, A. Seddik Meziani, Elliot Noma

Department of Accounting and Finance Faculty Scholarship and Creative Works

Aversion to risk is one of the main factors driving investment decisions. Studies have been based on either simple decisions in a laboratory setting or real-life decisions viewed in retrospect. The study's main contribution to the literature consists of a new and elaborate method of measuring risk combined with a real-world investment task brought into a laboratory setting and show that in this controlled environment on average women are more risk averse than men. Unlike previous studies, the authors measure risk tolerance in units that naturally map into the risk-return space used by investors, giving them the missing tool to …

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An Examination Of State And Local Government Pension Underfunding –Implications And Guidance For Governance And Regulation, Craig L. Foltin Oct 2018

An Examination Of State And Local Government Pension Underfunding –Implications And Guidance For Governance And Regulation, Craig L. Foltin

Business Faculty Publications

State and local government pension underfunding has become a major focus of public policy debate due in large part to recent Governmental Accounting Standards Board (GASB) actions that have brought national attention to the issue. The extent of these plans underfunding has been debated, along with the necessity for state government intervention and the level of regulatory actions that should be enacted by state legislatures. State and local public pension plans do not fall under the enumerated powers of the federal government in the Constitution and are therefore left to each individual state to regulate. The amount of plan underfunding …

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Five Types Of Interest Expense, Three Sets Of New Rules, Larry Witner, Tim Krumwiede Oct 2018

Five Types Of Interest Expense, Three Sets Of New Rules, Larry Witner, Tim Krumwiede

Accounting Department Faculty Journal Articles

Individual taxpayers are subject to different rules for deducting different types of interest expense. The five primary types of interest for individual taxpayers are student loan interest, qualified residence indebtedness interest, investment interest, business interest, and personal interest. The law known as the Tax Cuts and Jobs Act temporarily introduced new rules for years after 2017 for qualified residence indebtedness interest, investment interest, and business interest. For 2018 through 2025, the acquisition indebtedness limit on the qualified residence indebtedness deduction has been lowered to $750,000 for loans incurred after Dec. 15, 2017, and the separate deduction for home-equity indebtedness has …

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Don’S Column: Singapore Corporate Tax Rate: Is It Really A Flat Rate?, Teng Aun Khoo, Clement Tan Kai Guan Oct 2018

Don’S Column: Singapore Corporate Tax Rate: Is It Really A Flat Rate?, Teng Aun Khoo, Clement Tan Kai Guan

Research Collection School Of Accountancy

As there is only one corporate tax rate (CTR) in Singapore, it may appear that the Singapore CTR is a single flat rate, currently 17%. However, after taking into account the availability of the partial tax exemption (PTE)scheme, the start-up tax exemption (SUTE) scheme and the corporate income tax rebate (CITR) in Singapore, all of which have an effect of lowering a company’s tax payable, the seemingly flat Singapore CTR is not what it seems to be. Instead, it translates to various progressive tax rates for different tiers of normal chargeable income (NCI).

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Don's Column: Revised Conceptual Framework For Financial Reporting (Part 1), Pearl Hock-Neo Tan Oct 2018

Don's Column: Revised Conceptual Framework For Financial Reporting (Part 1), Pearl Hock-Neo Tan

Research Collection School Of Accountancy

In March 2018, the International Accounting Standards Board (IASB) issued the revised Conceptual Framework for Financial Reporting (CF 2018) after five years of deliberation since the Discussion Paper was first issued. CF 2018 is immediately applicable to the IASB and International Financial Reporting Standards (IFRS) Interpretations Committee.

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Comments On Discussion Paper "Financial Instruments With Characteristics Of Equity" (Fice), Pearl Hock-Neo Tan Oct 2018

Comments On Discussion Paper "Financial Instruments With Characteristics Of Equity" (Fice), Pearl Hock-Neo Tan

Research Collection School Of Accountancy

Comments are given on the Discussion Paper issued by the International Accounting Standards Board in June 2018 on Financial Instruments with Characteristics of Equity. The comments are given in response to the Board's public invitation for feedback on the Discussion Paper. The comments convey the author's concerns about the Discussion Paper's proposals in the light of the conceptual framework of financial reporting and a fundamental understanding of what equity and liability is. The comments propose approaches that the Board may consider in its subsequent development of its proposals.

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Aggregate Mutual Fund Holdings And Fund Performance, Sanjeev Bhojraj, Young Jun Cho Oct 2018

Aggregate Mutual Fund Holdings And Fund Performance, Sanjeev Bhojraj, Young Jun Cho

Research Collection School Of Accountancy

In this paper we examine the differences in aggregate ownership of stocks held by passive equity funds and active equity funds and in the characteristics of stocks held by these funds. We find that holdings of passive funds do not mirror the holdings of active funds. There are systematic differences in the holdings between the two groups with active funds more likely to hold smaller stocks, growth stocks, and stocks with higher momentum, higher turnover and more recent IPOs. We also find evidence that the holdings of passive and active funds have trended closer together over time, consistent with the …

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Portfolio Liquidity And Share Turnover Of Closed-End Mutual Funds, Charles P. Cullinan, Xiaochuan Zheng, Elena Precourt Sep 2018

Portfolio Liquidity And Share Turnover Of Closed-End Mutual Funds, Charles P. Cullinan, Xiaochuan Zheng, Elena Precourt

Accounting Department Faculty Journal Articles

We examine the relationship between the liquidity of the portfolios of closed-end mutual funds and the share turnover of closed-end funds' shares. We find that the portfolio liquidity/share turnover relationship is contingent upon the nature of the funds' shareholders. For funds with mainly smaller shareholders, there is a negative relationship between portfolio liquidity and share turnover, suggesting that smaller investors are more likely to hold shares of these funds to avoid the transaction costs associated with trading. However, as more institutional investors hold fund shares, portfolio liquidity is positively associated with share turnover.

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The Evolution Of The International Corporate Tax Regime, 1920-2008, Richard Woodward Sep 2018

The Evolution Of The International Corporate Tax Regime, 1920-2008, Richard Woodward

Books/Book Chapters

No abstract provided.

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Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula Sep 2018

Reflective Practice Series: Selected Instructional Models Using Synchronous Video Conferencing Software, Martin W. Sivula

MBA Faculty Conference Papers & Journal Articles

With the vast array of resources available to instructors, one would think that instruction and teaching would yield success for all learners. Now, well into the 21st century has much changed in the classroom? Certainly, movable desks and chairs, advanced audio and visual equipment, and a plethora of all types of technologies which might be able to enhance training and education. Over the last several decades research on individualized instruction, cognitive science, educational psychology, and multimedia instruction (to name a few) have permeated the literature on instruction. With all the research and the vast array of studies on improving …

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Director Tenure Diversity And Board Monitoring Effectiveness, Na Li, Aida Sijamic Wahid Sep 2018

Director Tenure Diversity And Board Monitoring Effectiveness, Na Li, Aida Sijamic Wahid

Research Collection School Of Accountancy

This study examines the impact of director tenure diversity on board effectiveness. We find that tenure-diverse boards exhibit significantly higher CEO performance-turnover sensitivity and that firms with tenure-diverse audit committees are less likely to experience accounting restatements. Furthermore, we document that tenure-diverse compensation committees also award less excess compensation and are less likely to overcompensate. Even though tenure-diverse boards seem to exhibit superior monitoring performance, there is limited evidence that their firms exhibit superior financial performance. The findings suggest that recent calls for board renewal, to the extent that it would increase tenure diversity rather than just decrease average board …

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