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Articles 1 - 28 of 28
Full-Text Articles in Business Administration, Management, and Operations
Strengthening The Foundations Of The Accountability Profession, Sridhar Ramamoorti, Sam M. Mccall, Relmond P. Van Daniker
Strengthening The Foundations Of The Accountability Profession, Sridhar Ramamoorti, Sam M. Mccall, Relmond P. Van Daniker
Accounting Faculty Publications
Article discusses the conceptual foundations of the accountability profession in government. The role of the Academy for Government Accountability in strengthening the accountability profession and advancing research and education initiatives in government financial management is described. The author suggests that government accountability needs to be about stewardship, transparency, accountability and citizen-centric government.
Ley Federal Del Procedimiento Contencioso Administrativo., Bruno L. Costantini García
Ley Federal Del Procedimiento Contencioso Administrativo., Bruno L. Costantini García
Bruno L. Costantini García
Ponencia sobre la Ley Federal del Procedimiento Contencioso Administrativo, impartida por Bruno L. Costantini García.
Six Levels Of Financial Knowledge, George E. Manners Jr.
Six Levels Of Financial Knowledge, George E. Manners Jr.
Faculty and Research Publications
With the appropriate framework to shape financial knowledge, the management accounting function should become an organization's principal decision-support platform. The framework consists of six levels of financial knowledge, and the word "financial" is most operative here. The Level 1 knowledge base connects a business to the outside world. When you have output volume and variable cost per output unit, you have the basis for Level 2 vocabulary. When a business transitions to Level 3, it has learned that return on assets must be employed as the enterprise's guiding profitability gauge. There is a very distinct increment in knowledge when moving …
Primer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García
Primer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García
Bruno L. Costantini García
Memorias del Primer Congreso Nacional de Organismos Públicos Autonomos
How To Use The Changing Components Of The Corporate Annual Report, Deborah S. Archambeault, John G. Fulmer Jr., Richard A. Turpin
How To Use The Changing Components Of The Corporate Annual Report, Deborah S. Archambeault, John G. Fulmer Jr., Richard A. Turpin
Accounting Faculty Publications
The amount of information required in a corporate annual report continues to increase. Most recently, additional reporting requirements brought about by the Sarbanes-Oxley Act of 2002 (SOA), the Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC) increase the number of component reports that must be included in the annual report package. Lenders need to be familiar with the additional information that these new components provide. Therefore, this article summarizes the required component reports, discusses the information conveyed in each report and gives some examples of the types of significant new information that can be obtained.
Anheuser-Busch And The Eu, Keith Tolbert
Anheuser-Busch And The Eu, Keith Tolbert
Undergraduate Theses and Capstone Projects
The following paper provides analysis of Anheuser-Busch, its current position within the European Union (EU), and its opportunities/threats that exist in the EU. Included is background information about Anheuser-Busch containing its products, financial condition, and major competitors within the EU. I have provided extensive analysis o f the areas of concern for Anheuser-Busch in the EU as well as recommendations for the company to consider. The major market for opportunity covered is Germany. Anheuser-Busch is not a current competitor in Germany, however, possible expansion opportunities into the country is addressed. Additionally, a realistic outlook of Anheuser-Busch’s future other EU countries …
The Impact Of Enterprise Risk Management On The Internal Audit Function, Mark S. Beasley, Richard Clune, Dana Hermanson
The Impact Of Enterprise Risk Management On The Internal Audit Function, Mark S. Beasley, Richard Clune, Dana Hermanson
Faculty and Research Publications
This exploratory study provides evidence about factors associated with the overall impact of enterprise risk management (ERM) on the internal audit function’s activities. Based on responses from 122 organizations in several countries, we find that ERM has the greatest impact on internal audit’s activities when (a) the organization’s ERM process is more completely in place, (b) the CFO and audit committee have called for greater internal audit activity related to ERM, (c) the chief audit executive’s (CAE) tenure is longer, (d) the organization is in the banking industry or is an educational institution, and (e) the internal audit function has …
2006-2007 Operating Budget, Morehead State University. Budget & Financial Planning Office.
2006-2007 Operating Budget, Morehead State University. Budget & Financial Planning Office.
Morehead State University Operating Budgets Archive
2006-2007 Operating Budget of Morehead State University.
Audit Committee Financial Experts: A Closer Examination Using Firm Designations, Joseph V. Carcello, Cw Hollingsworth, Terry L. Neal
Audit Committee Financial Experts: A Closer Examination Using Firm Designations, Joseph V. Carcello, Cw Hollingsworth, Terry L. Neal
Accounting and Information Management Publications and Other Works
The Sarbanes-Oxley Act (SOX) requires the disclosure of whether the audit committee has a financial expert. We examine disclosures related to audit committee financial experts (ACFEs) in the first year that this disclosure requirement is in effect. We find that virtually all companies disclose whether an ACFE is on the audit committee, although the transparency of the disclosure regarding the ACFE’s background is limited. We also find that most ACFEs do not have a background in accounting or finance, although there are notable differences between stock exchanges on this dimension. In addition, we find that companies designate ACFEs who would …
2005-2006 Financial Summary, Morehead State University. Budget & Financial Planning Office.
2005-2006 Financial Summary, Morehead State University. Budget & Financial Planning Office.
Morehead State University Financial Summaries Archive
2005-2006 Financial Summary of Morehead State University.
2006-2007 Morehead State University Audit Report, Morehead State University. Accounting And Financial Services Office.
2006-2007 Morehead State University Audit Report, Morehead State University. Accounting And Financial Services Office.
Morehead State University Audit Reports
2006-2007 Audit Report for Morehead State University.
The Role Of Connective Tissue Growth Factor In Skeletal Growth And Development, Philadelphia University
The Role Of Connective Tissue Growth Factor In Skeletal Growth And Development, Philadelphia University
Philadelphia University, Jordan
No abstract provided.
Audit Committee Financial Experts: A Closer Examination Using Firm Designations, Joseph V. Carcello, Cw Hollingsworth, Terry L. Neal
Audit Committee Financial Experts: A Closer Examination Using Firm Designations, Joseph V. Carcello, Cw Hollingsworth, Terry L. Neal
Joseph V. Carcello
The Sarbanes-Oxley Act (SOX) requires the disclosure of whether the audit committee has a financial expert. We examine disclosures related to audit committee financial experts (ACFEs) in the first year that this disclosure requirement is in effect. We find that virtually all companies disclose whether an ACFE is on the audit committee, although the transparency of the disclosure regarding the ACFE’s background is limited. We also find that most ACFEs do not have a background in accounting or finance, although there are notable differences between stock exchanges on this dimension. In addition, we find that companies designate ACFEs who would …
Estimation Of Large Insurance Losses: A Case Study, Tine Buch-Kromann
Estimation Of Large Insurance Losses: A Case Study, Tine Buch-Kromann
Journal of Actuarial Practice (1993-2006)
This paper demonstrates an approach to analyzing liability data recently developed by a Danish insurance company. The approach is based on a Champernowne distribution, which is corrected with a non-parametric estimator. The correction estimator is obtained by transforming the data set with the estimated modified Champernowne cdf and then estimating the density of the transformed data set by using the classical kernel density estimator. Our approach is illustrated by applying it to an actual data set.
Solvency Of Life Insurance Companies: Methodological Issues, Rosa Cocozza, Emilia Di Lorenzo
Solvency Of Life Insurance Companies: Methodological Issues, Rosa Cocozza, Emilia Di Lorenzo
Journal of Actuarial Practice (1993-2006)
The paper deals with solvency assessment for life insurance business; some methodological issues concerning the solvency of life insurance companies, particularly connected to the investment risk, are suggested. Considerations about the technical equilibrium of an insurance portfolio and the financial regulation lead to a dynamic system involving risk measure and solvency assessment. The formal model is applied to a life annuity cohort in a stochastic context in order to exemplify the potential of the model, especially referred to the need to frame solvency assessment in a dynamic perspective.
A Note On The Instability Of The Unprojected Individual Level Premium Cost Method, Pierre Devolder, Valerie Goffin
A Note On The Instability Of The Unprojected Individual Level Premium Cost Method, Pierre Devolder, Valerie Goffin
Journal of Actuarial Practice (1993-2006)
We compare the unit credit and the unprojected individual level premium cost methods in a continuous time environment and show that the latter may produce unstable contribution rates in a dynamic environment. Specifically, assuming there are no unfunded liabilities, we prove that the unprojected individual premium cost method may produce non-bounded contributions if benefits change too close to the normal retirement age.
Consistent Assumptions For Modeling Credit Loss Correlations, Jan Dhaene, Marc J. Goovaerts, Robert Koch, Ruben Olieslagers, Olivier Romijn, Steven Vanduffel
Consistent Assumptions For Modeling Credit Loss Correlations, Jan Dhaene, Marc J. Goovaerts, Robert Koch, Ruben Olieslagers, Olivier Romijn, Steven Vanduffel
Journal of Actuarial Practice (1993-2006)
We consider a single period portfolio of n dependent credit risks that are subject to default during the period. We show that using stochastic loss given default random variables in conjunction with default correlations can give rise to an inconsistent set of assumptions for estimating the variance of the portfolio loss. Two sets of consistent assumptions are provided, which it turns out, also provide bounds on the variance of the portfolio's loss. An example of an inconsistent set of assumptions is given.
On Some Risk-Adjusted Tail-Based Premium Calculation Principles, Edward Furman, Zinoviy Landsman
On Some Risk-Adjusted Tail-Based Premium Calculation Principles, Edward Furman, Zinoviy Landsman
Journal of Actuarial Practice (1993-2006)
This paper explores two tail-based premium calculation principles, the tail standard deviation (TSD) premium and the tail conditional expectation (TCE) premium, in their risk-adjusted and unadjusted forms. They are risk-adjusted using so-called distortion functions. We prove that the proportional hazard (PH) risk-adjusted TCE premium is larger than the unadjusted TCE premium. Additionally, given a risk distribution with location and scale parameters, we prove that the PH risk-adjusted TCE premium reduces to the unadjusted TSD premium.
Bayesian Analysis Of A Health Insurance Model, Helio S. Migon, Edison M.O. Penna
Bayesian Analysis Of A Health Insurance Model, Helio S. Migon, Edison M.O. Penna
Journal of Actuarial Practice (1993-2006)
We consider the problem of determining health insurance premiums based on past information on size of loss, number of losses, and size of population at risk. The size of loss and the number of losses are treated as mutually independent random variables. The number of losses is assumed to follow a Poisson process, and the loss sizes are independent and identically distributed non-negative random variables, and the population at risk is assumed to follow a non-linear growth model. An expression for the premium is obtained through maximization of the insurer's expected utility under a Bayesian model. The parameter estimation process …
Bayesian Analysis Of Insurance Losses Using The Buhlmann-Straub Credibility Model, Abraham J. Van Der Merwe, Kobus N. Bekker
Bayesian Analysis Of Insurance Losses Using The Buhlmann-Straub Credibility Model, Abraham J. Van Der Merwe, Kobus N. Bekker
Journal of Actuarial Practice (1993-2006)
We propose a Bayesian analysis to develop credibility estimates of the well known Biihlmann-Straub model. We describe simple numerical methods to obtain exact posterior distributions and predictive densities under this model. These distributions are obtained through Monte Carlo simulations that generate independent samples from the joint posterior distribution. Our methods are therefore preferable to methods such as Gibbs sampling, which generates dependent samples from the joint distribution. The methods discussed also can be extended to more complicated credibility models.
Journal Of Actuarial Practice, Volume 13, 2006, Colin Ramsay , Editor
Journal Of Actuarial Practice, Volume 13, 2006, Colin Ramsay , Editor
Journal of Actuarial Practice (1993-2006)
ARTICLES
Bivariate Archimedean Copula Models for Censored Data in Non-Life Insurance • Michel Denuit, Dana Purcaru, and Ingrid Van Keilegom 5
Bayesian Analysis of Insurance Losses Using the Biihlmann-Straub Credibility Model • Abraham J. van der Merwe and Kobus N Bekker . 33
Bayesian Analysis of a Health Insurance Model • Helio S. Migon and Edison M. O. Penna 61
Solvency of Life Insurance Companies: Methodological Issues • Rosa Cocozza and Emilia Di Lorenzo . 81
Pricing Insurance Policies with a Distribution-Free Financial Pricing Model • Min-Ming Wen . 103
A Note on the Instability of the Unprojected Individual Level …
Analysis Of An Insurance Risk Model With Thinning Dependence And Common Shock, Lai Mei Wan, Kam Chuen Yuen, Wai Keung Li
Analysis Of An Insurance Risk Model With Thinning Dependence And Common Shock, Lai Mei Wan, Kam Chuen Yuen, Wai Keung Li
Journal of Actuarial Practice (1993-2006)
We consider a continuous-time insurance risk model with m dependent classes of business with dependent claim number processes due to thinning dependence and a common shock. The impact of the dependence is studied via the adjustment coefficient. The case m = 2 is investigated analytically for exponential claim distributions and via simulation for non-exponential claim distributions.
Journal Of Actuarial Practice - Volume 13 (2006) - Contents And Masthead
Journal Of Actuarial Practice - Volume 13 (2006) - Contents And Masthead
Journal of Actuarial Practice (1993-2006)
Contents
Editorial Policy: Topics suitable for this journal include AIDS, annuity products, asset-liability matching, cash-flow testing, casualty rate making, credibility theory, credit insurance, disability insurance, expense analysis, experience studies, FASB issues, financial reporting, group insurance, health insurance, individual risk taking, insurance regulations, international issues, investments, liability insurance, loss reserves, marketing, pensions, pricing issues, product development, reinsurance, reserving issues, risk-based capital, risk theory, social insurance, solvency issues, taxation, valuation issues, and workers' compensation
Review Process
Editor - Colin Ramsay, University of Nebraska
Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, Actuarial Frameworks ○ …
Spatial Distribution Of Frequency And Severity Of Water Claims In California, Gurbhag Singh, Max Tang, Don Mcneill, Lyn Hunstad
Spatial Distribution Of Frequency And Severity Of Water Claims In California, Gurbhag Singh, Max Tang, Don Mcneill, Lyn Hunstad
Journal of Actuarial Practice (1993-2006)
We examine the frequency and severity of water loss claims for homeowners insurance across the state of California for the experience years 2000, 2001, and 2002. The spatial distribution patterns of frequencies and severities are mapped and analyzed at the zip code level. The maps reveal the pockets of high frequencies and severities. The information provided in this paper will assist actuaries and policy makers in their quest to set accurate rates for homeowners insurance.
Pricing Insurance Policies With A Distribution-Free Financial Pricing Model, Min-Ming Wen
Pricing Insurance Policies With A Distribution-Free Financial Pricing Model, Min-Ming Wen
Journal of Actuarial Practice (1993-2006)
The highly skewed and heavy tailed distributions used to model insurance losses (claims) raise a concern about the validity of the applications of the capital asset pricing model (CAPM) to insurance pricing when market risks are essential. This paper provides an alternative pricing model, called the Rubinstein-Leland model, which can be used to price insurance contracts. The Rubinstein-Leland model has a distribution-free feature that can fully capture the asymmetry embedded in insurance losses. Thus, this model is better able to derive fair prices for insurance policies than is the CAPM.
Bivariate Archimedean Copula Models For Censored Data In Non-Life Insurance, Michel Denuit, Oana Purcaru, Ingrid Van Keilegom
Bivariate Archimedean Copula Models For Censored Data In Non-Life Insurance, Michel Denuit, Oana Purcaru, Ingrid Van Keilegom
Journal of Actuarial Practice (1993-2006)
We describe a methodology based on Archimedean copulas for analyzing nonlife insurance data with censoring present. Specifically, we propose a graphical selection procedure for the nonparametric estimation of the generator. An actual loss-ALAE data set is used for the numerical illustrations and for comparisons of our approach to a few others.
How Sales Executives Can Avoid Accounting Fraud Allegations, Mark S. Beasley, Dana R. Hermanson
How Sales Executives Can Avoid Accounting Fraud Allegations, Mark S. Beasley, Dana R. Hermanson
Faculty and Research Publications
Is accounting fraud only a concern for CEOs and financial executives? This article discusses recent cases in which the Securities and Exchange Commission (SEC) charged Sales Vice Presidents for their role in accounting fraud. The authors offer suggestions to help sales executives steer clear of accounting fraud allegations.
Análisis De Los Ingresos Tributarios Del Gobierno Nacional Central En Función Del Producto Interno Bruto A Costo De Factores En Colombia 1990 - 2002, Andrea Sierra Fandiño, José Manuel Sánchez Martínez
Análisis De Los Ingresos Tributarios Del Gobierno Nacional Central En Función Del Producto Interno Bruto A Costo De Factores En Colombia 1990 - 2002, Andrea Sierra Fandiño, José Manuel Sánchez Martínez
Economía
No abstract provided.