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Sec Filings, Regulatory Deadlines, And Capital Market Consequences, Eli Bartov, Yaniv Konchitchki 2017 New York University

Sec Filings, Regulatory Deadlines, And Capital Market Consequences, Eli Bartov, Yaniv Konchitchki

New York University Law and Economics Working Papers

Timely disclosure of financial statement information is a critical requirement for firms and well-functioning capital markets. Yet, every quarter or year, a non-trivial number of firms are late in filing their financial statements. This paper identifies and probes various capital market consequences for late filings of quarterly and annual financial statements. It examines the short- and long-window reaction to late filings, as well as how equity investors process statements accompanying late filing announcements, such as managers declaring intentions to file within/outside SEC’s allowed grace periods. This paper documents that delayed quarterly filings have distinctly different valuation implications than ...


The Impact Of Recent Sec Financial Reporting Probes On Shareholder Wealth: Companies, Competitors, And Consequences, Stephen Warde 2017 Bryant University

The Impact Of Recent Sec Financial Reporting Probes On Shareholder Wealth: Companies, Competitors, And Consequences, Stephen Warde

Honors Projects in Finance

During an undergraduate college career, an accounting major devotes a great part of his or her time to learning how publicly traded businesses prepare financial statements in compliance with Generally Accepted Accounting Principles (GAAP) and federal securities laws. These accounting principles, standards, and procedures are ultimately enforced by the U.S. Securities and Exchange Commission (SEC) to protect investors, uphold fair markets, and promote public trust in the capital market system. To fulfill its mission, the SEC Division of Enforcement conducts investigations into possible violations of the federal securities laws and administers enforcement actions. Naturally, SEC investigations and the anticipation ...


Impact On Grant Fraud Within The Government, Ashley Clark 2017 La Salle University

Impact On Grant Fraud Within The Government, Ashley Clark

Economic Crime Forensics Capstones

My proposal and area of concentration will focus on the forensic accountant’s role in grant fraud. This role is more important now than ever, as fraudsters’ efforts have become more sophisticated over time. Grant fraud is particularly susceptible because more and more fraudsters are working within the company and understand the internal workings of the organization. Ensuring that grant notice of award regulations and rules are followed – and that relevant agencies and individuals follow all protocols under the budgeted term – are crucial components to ensuring the grant’s success.

Within my research paper, I will cover all areas associated ...


Donor Advised Funds: Charitable Spending Vehicles For 21st Century Philanthropy, Roger Colinvaux 2017 The Catholic University of America, Columbus School of Law

Donor Advised Funds: Charitable Spending Vehicles For 21st Century Philanthropy, Roger Colinvaux

Scholarly Articles and Other Contributions

The donor advised fund (DAF) is changing longstanding giving norms in United States philanthropy. DAF contributions now account for around 8.4% of giving by individuals in the U.S. Over half of those contributions go to national DAF sponsors that have relationships with large commercial investment firms like Fidelity, Vanguard, and Schwab. This Article seeks to advance the understanding of the donor advised fund and to address two of the main policy questions: whether to require a mandatory distribution of funds by DAFs and their sponsoring organizations and how to respond to the increased use of DAFs for noncash ...


Taxing Wealth Seriously, Edward J. McCaffery 2016 University of Southern California;California Institute of Tecnology

Taxing Wealth Seriously, Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

The social and political problems of wealth inequality in America are severe and getting worse. A surprise is that the U.S. tax system, as is, is a significant cause of these problems, not a cure for them. The tax-law doctrines that allow those who already have financial wealth to live, luxuriously and tax-free, or to pass on their wealth tax-free to heirs, are simple. The applicable legal doctrines have been in place for nearly a century under the income tax, the primary social tool for addressing matters of economic inequality. The analytic pathways to reform are easy to see ...


Will We Ever Close The Gaap?: A Look Into The International Convergence Of Accounting Standards, Melanie Rosin 2016 University of Michigan Law School

Will We Ever Close The Gaap?: A Look Into The International Convergence Of Accounting Standards, Melanie Rosin

Michigan Business & Entrepreneurial Law Review

This Note examines the trend toward the international convergence of accounting standards and then identifies the factors contributing to the process of this trend as well as the obstacles standard setters face in moving to one high quality, unified set of standards. The Note next identifies the possible outcomes for the future of convergence, including the mandatory adoption of International Financial Reporting Standards (IFRS) by the United States, the Securities & Exchange Commission’s (SEC) encouragement of the voluntary of adoption of IFRS by the United States, requiring public companies to comply with both U.S. Generally Accepted Accounting Principles (U ...


Public Accounting And The Myth Of The Public Interest.Pdf, Wm. Dennis Huber 2016 Capella University

Public Accounting And The Myth Of The Public Interest.Pdf, Wm. Dennis Huber

Wm. Dennis Huber

For decades it has been drummed into the conscience, the consciousness, and the subconscious of accounting students, researchers, and practitioners alike that the public interest is the sine qua non of the public accounting profession. Accounting researchers have attempted to explore the multi-faceted nature of what is referred to as the public interest based on the assumption that the public interest actually exists in the public accounting profession (including professional accounting organizations, government and quasi-government regulatory agencies, and auditing and accounting standard setting bodies). This paper questions that assumption by conducting an exegesis of the texts of the legislative findings ...


Shareholder Wealth Maximization As Means To An End, Robert P. Bartlett, III 2016 Selected Works

Shareholder Wealth Maximization As Means To An End, Robert P. Bartlett, Iii

Robert Bartlett

In several recent cases, the Delaware Chancery Court has emphasized that where a conflict of interest exists between holders of a company’s common stock and holders of its preferred stock, the standard of conduct for directors requires that they strive to maximize the value of the corporation for the benefit of its common stockholders rather than for its preferred stockholders. This article interrogates this view of directors’ fiduciary duties from the perspective of incomplete contracting theory. Building on the seminal work of Sanford Grossman and Oliver Hart, incomplete contracting theory examines the critical role of corporate control rights for ...


What Happens In Vegas Doesn't Always Stay In Vegas: Nevada Corporations Enjoy A Disproportionate Share Of Sec Trading Suspensions, Anthony J. Cataldo II, Peter F. Oehlers, Robert C. Scanlon 2016 West Chester University of Pennsylvania

What Happens In Vegas Doesn't Always Stay In Vegas: Nevada Corporations Enjoy A Disproportionate Share Of Sec Trading Suspensions, Anthony J. Cataldo Ii, Peter F. Oehlers, Robert C. Scanlon

Peter Oehlers

No abstract provided.


Proportionate Liability Under The Cbca In The Context Of Recent Corporate Governance Reform: Canadian Auditors In The Wrong Place At The Wrong Time?, Poonam Puri, Stephanie Ben-Ishai 2016 Osgoode Hall Law School of York University

Proportionate Liability Under The Cbca In The Context Of Recent Corporate Governance Reform: Canadian Auditors In The Wrong Place At The Wrong Time?, Poonam Puri, Stephanie Ben-Ishai

Poonam Puri

In the recent Canada Business Corporations Act' amendments implementing a proportionate liability scheme, auditors appear to be winners. This is consistent with the trend in the past several years as a result of which Canadian auditors have been successful in narrowing the scope of their liability both through legislation and through common law. Going forward, however, it is fair to say that auditors will be losers unless the accounting profession re-evaluates its role and responsibilities to its stakeholders. Given the accounting and corporate governance scandals North America has witnessed in the past few years, as well as the actual and ...


It's Tax Not Trade (Stupid), Edward J. McCaffery 2016 University of Southern California;California Institute of Tecnology

It's Tax Not Trade (Stupid), Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

Globalization, trade and other free market policies increase wealth. But the gains from trade are not being evenly spread among all citizens. People and politicians rage against foreigners. But it is the United States tax system, not trade, that ought to change, and wealthy Americans, not workers world-wide, who should be sharing the wealth. A nd it is the form of tax, not just its rate structure, that must reform, so that capital at last bears a meaningful share of the burden.


Probate A To Z: Guiding You Through The Statutes, Rules, And Procedures (Click Sharkmedia Below For Video), Adam Scott Goldberg 2016 Krause & Goldberg PA

Probate A To Z: Guiding You Through The Statutes, Rules, And Procedures (Click Sharkmedia Below For Video), Adam Scott Goldberg

Law Center Plus Seminar Series

  • Learn about probate court statutes and rules of procedure in Florida
  • Understand how Probate issues can impact other areas such as: real estate, family, and debt/creditor law.
  • How to handle special challenges that arise in probate cases
  • Discuss recent procedural changes in Miami-Dade & Broward Probate Court


Four Ways That Accountants Turn To The Dark Side, Singapore Management University 2016 Singapore Management University

Four Ways That Accountants Turn To The Dark Side, Singapore Management University

Perspectives@SMU

Not only those with 'defective individual traits' commit fraud


One Fund Solution And The Pension Crisis, Gordon Butler 2016 St. Thomas University School of Law

One Fund Solution And The Pension Crisis, Gordon Butler

Cleveland State Law Review

The next forty years of economic life will be dominated by one underlying theme: dealing with the retirement income security of a growing, aging and longer-lived global population. This is a "can’t run, can’t hide" problem that will affect the lives of almost every human being on the planet . . . Whether you are light in your pension account, whether you have more money than Croesus, whether you live in the well-funded Netherlands, or whether you are a put-upon unambitious young male in Japan who sees no future for himself, you cannot escape this problem.

Before you read very far ...


A Contabilidade Paralela Das Empresas Estatais, Bruno Meyerhof Salama, Mariana Pargendler 2016 FGV Law School in Sao Paulo

A Contabilidade Paralela Das Empresas Estatais, Bruno Meyerhof Salama, Mariana Pargendler

Bruno Meyerhof Salama

As pedaladas fiscais e os escândalos relacionados à Operação Lava-Jato estão no centro da crise por que passa o Brasil. No olho do furacão estão as empresas estatais. Pouca gente percebeu, mas os problemas das estatais estão intimamente ligados a uma regra de natureza contábil, prevista na Lei de Diretrizes Orçamentárias (LDO): as contas das empresas estatais não vêm sendo contabilizadas para fins de cálculo do resultado primário (que corresponde à diferença entre receitas e despesas do governo, excluindo-se aquelas com juros).  


Transfer Pricing Challenges In The Cloud, Orly Mazur 2016 Southern Methodist University Dedman School of Law

Transfer Pricing Challenges In The Cloud, Orly Mazur

Boston College Law Review

Cloud computing has fundamentally changed how companies operate. Companies have quickly adapted by moving their businesses to the cloud, but international tax standards have failed to follow suit. As a result, taxpayers and tax administrations confront significant tax challenges in applying outdated tax principles to this new environment. One particular area that raises perplexing tax issues is the transfer pricing rules. The transfer pricing rules set forth the intercompany price a cloud service provider must charge an affiliate using its cloud services, which ultimately affects the determination of the jurisdiction in which the company’s profits are taxed. This Article ...


Sec's Ultra Vires Recognition Of The Fasb.Pdf, Wm. Dennis Huber 2016 Capella University

Sec's Ultra Vires Recognition Of The Fasb.Pdf, Wm. Dennis Huber

Wm. Dennis Huber

The Sarbanes-Oxley Act of 2002 conferred upon the Securities and Exchange
Commission (“SEC”) the authority to recognize as “‘generally accepted’
for purposes of the securities laws, any accounting principles established
by a standard setting body” provided that the standard setting body
met certain conditions. Two weeks after the Sarbanes-Oxley Act was
signed into law in July, 2002 the Financial Accounting Standards Board
(“FASB”) and its parent organization, the Financial Accounting Foundation,
submitted a letter to the SEC declaring that it met the conditions set
forth in the Sarbanes-Oxley Act. Eight months later, in April, 2003 the SEC
issued a policy ...


The Meaning Of Capital In The Twenty-First Century, Edward J. McCaffery 2016 University of Southern California;California Institute of Tecnology

The Meaning Of Capital In The Twenty-First Century, Edward J. Mccaffery

University of Southern California Legal Studies Working Paper Series

America is on a path towards a level of both wealth and income inequality unparalleled in recorded history. Thomas Piketty’s Capital in the Twenty-First Century summarizes and conveys the work of Piketty and many co-authors, over many decades, looking at the structure of income and wealth inequality across many nations and centuries. This review essay builds on Piketty’s ambitions as well as his data, in order to put forth a better solution: one that accepts and even embraces the facts of unequal ownership of capital, but changes the social meaning of those facts to avoid the social harms ...


The Target Method For Partnership Special Allocations And Why It Should Be Safe-Harbored, Daniel S. Goldberg 2016 University of Maryland School of Law

The Target Method For Partnership Special Allocations And Why It Should Be Safe-Harbored, Daniel S. Goldberg

Faculty Scholarship

The Treasury Regulations’ concept of “substantial economic effect” is the holy grail of partnership special allocations. Special allocations that have substantial economic effect will come within a safe harbor in the regulations and have assurance that the allocations that are provided in the partnership agreement will be respected. In order for the allocations to come within the substantial economic effect safe harbor, the partnership must (1) maintain capital accounts in accordance with the Treasury Regulations’ standard; (2) provide for liquidation in accordance with capital accounts in all events; and (3) either (a) provide for a deficit restoration obligation (DRO) on ...


Promoting A More Efficient Corporate Governance Model In Emerging Markets Through Corporate Law, Jingchen Zhao 2016 University of Leeds

Promoting A More Efficient Corporate Governance Model In Emerging Markets Through Corporate Law, Jingchen Zhao

Washington University Global Studies Law Review

If we group together corporate governance models in countries with emerging markets, it is worthwhile to consider if reform suggestions could be offered to these countries collectively to address their shared weak points from a legal perspective. This article attempts to find common characteristics in corporate governance models from countries with emerging markets, who suffer from similar problems and challenges. The article traces many dimensions through which corporate governance functions in emerging markets can be characterized, with an emphasis on the legal foundations and responses to problems especially within corporate law, in order to promote the soundness of corporate governance ...


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