Accounting Commons^™

Media Coverage And The Stock Market Valuation Of Tarp Participating Banks, Tee Yong Jeffrey Ng, Florin P. Vasvari, Regina Wittenberg-Moerman

Research Collection School Of Accountancy

We examine the impact of media coverage of the Capital Purchase Program (CPP) under the Troubled Assets Relief Program on the equity market valuation of participating bank holding companies (CPP banks). We document substantial negative coverage of the CPP and its participants over the five quarters following the program's initiation. We find that the extent of negative media coverage about the CPP exerted substantial downward pressure on the stock returns of CPP banks, decreasing their valuation relative to bank holding companies not participating in the program. We show that our findings cannot be explained by differences in the banks’ financial …

Government Auditing Standards And Single Audits, April 1, 2016; Audit Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Attestation Standards: Clarification And Recodification; Statement On Standards For Attestation Engagements 18, American Institute Of Certified Public Accountants. Auditing Standards Board

AICPA Professional Standards

No abstract provided.

2016 Ijbe Front Matter, Tamra Connor

International Journal for Business Education

1. Editorial Board
2. President's Letter
3. SIEC-ISBE International

Do Analysts Understand The Economic And Reporting Complexities Of Derivatives?, Hye Sun Chang, Michael Donohoe, Theodore Sougiannis

Research Collection School Of Accountancy

We investigate whether and how the complexity of derivatives influences analysts earnings forecast properties. Using a difference-in-differences design, we find that, relative to a matched control sample of non-users, analysts earnings forecasts for new derivatives users are less accurate and more dispersed after derivatives initiation. These results do not appear to be driven by the economic complexity of derivatives, but rather the financial reporting of such economic complexity. Overall, despite their financial expertise, analysts routinely misjudge the earnings implications of firms derivatives activity. However, we find evidence that a series of derivatives accounting standards has helped analysts improve their forecasts …

Risk Management In A Vuca Environment: Some Key Considerations, Foo S.L., Nam Sang Cheng, Nam Sang Cheng

Research Collection School Of Accountancy

Whatis VUCA? Why is it relevant to accountants, the C-suites and Board ofDirectors? Companies are in the business of taking risks for rewards. Situatedbetween the companies are in the business of taking risks for rewards. Situatedbetween the companies and the rewards are risks. Critical concepts in thisprocess are volatility, uncertainty, complexity, and ambiguity (VUCA), a trendymanagerial acronym that conflates the reality of the business environment and the challenges ofrisk management.

Internal Control: It's More Than A Locked Safe, Annetta M. Gibson

Faculty Publications

Presentation for the NAD orientation for new treasurers, March 30, 2016

Reading And Interpreting A Financial Statement, Annetta M. Gibson

Faculty Publications

Presentation for Treasurers, North American Division, March 29, 2016

Transfer Pricing Equity: An Examination Of Reported Revenue Versus Expected Revenue, Justin Moore, Harold Harold, Clarence Coleman

The Winthrop McNair Research Bulletin

This research examines whether African crude oil and natural gas liquids (NGLs) sales revenue deviates from expected sales revenue based on market prices. The deviation may be the result of International Oil Companies (IOCs) transferring a significant amount of crude oils and NGLs to other regions of the world to be turned into finished goods, due to the lack of refining capacity in Africa. This situation suggests that the African region’s governments are placed at a significant disadvantage from profiting off the crude oils and NGLs reserves in their countries because they cannot turn the majority of crude oils and …

Nonlinear Time Series And Neural-Network Models Of Exchange Rates Between The Us Dollar And Major Currencies, David E. Allen, Michael Mcaleer, Shelton Peiris, Abhay Kumar Singh

Research outputs 2014 to 2021

This paper features an analysis of major currency exchange rate movements in relation to the US dollar, as constituted in US dollar terms. Euro, British pound, Chinese yuan, and Japanese yen are modelled using a variety of non-linear models, including smooth transition regression models, logistic smooth transition regressions models, threshold autoregressive models, nonlinear autoregressive models, and additive nonlinear autoregressive models, plus Neural Network models. The models are evaluated on the basis of error metrics for twenty day out-of-sample forecasts using the mean average percentage errors (MAPE). The results suggest that there is no dominating class of time series models, and …

Public Corruption: Causes, Consequences & Countermeasures, Victor Hartman, Sridhar Ramamoorti

Accounting Faculty Publications

The article discusses the cause and consequences of public corruption in the U.S. It mentions several countermeasures against public corruption which include strengtening the organizational commitment, behaviour, and emphasizing code of ethics. The article also mentions the conflict of interests, challenges on law enforcement, and asset misappropriation.

Preparation, Compilation, And Review Engagements, March 1, 2016, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Why Use Multiple Choice Questions With Excess Information?, Jason Bergner, Joshua J. Filzen, Mark G. Simkin

Accountancy Faculty Publications and Presentations

The examinations administered by accounting instructors, professional certification examiners, textbook writers, and preparatory accounting software all routinely include multiple-choice (MC) questions with excess (yet related) information. Despite their widespread use, little is known about how MC questions with excess information (hereafter MCE questions) affect student test performance. Based on an empirical analysis of the tests of 374 students in two introductory accounting classes at a single university, we found that average performance was lower on MCE questions than non-MCE questions, but was sensitive to the overall difficulty of the tested concept. We also found no significant difference in the power …

The Future Of Corporate Real Estate With Data And Analytics, Clarence Goh

Research Collection School Of Accountancy

JLLrecently commissioned Penn Schoen Berland (PSB) to conduct in-depth interviewswith C-suite executives across the globe to understand their views on the rolethat data and analytics (D&A) plays in corporate real estate (CRE). Allparticipants in this series of interviews held overall responsibility for CREdecision making – at either the global or regional level – withintheir organisations.

Analysts, Macroeconomic News, And The Benefit Of Active In-House Economists, Artur Hugon, Alok Kumar, An-Ping Lin

Research Collection School Of Accountancy

Although macroeconomic news has a major impact on corporate earnings, anecdotal evidence suggests that financial analyst research is inefficient with respect to such news. Examining analysts' earnings research, we find that they underreact to negative macroeconomic news. Analysts are not all equal, though, as analysts employed at the same firm as an active macroeconomist underreact much less. We find that the benefit of analyst access to an economist is concentrated in firms that are high in cyclicality relative to their industry, high in cyclicality in general, and that are smaller in size. In addition, analysts who are exposed to more …

Not-For-Profit Entities, March 1, 2016; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

State And Local Governments, March 1, 2016; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Accounting Conservatism And Stock Price Crash Risk: Firm-Level Evidence, Jeong-Bon Kim, Liandong Zhang

Research Collection School Of Accountancy

Using a large sample of U.S. firms during 1964-2007, we find that conditional conservatism is associated with a lower likelihood of a firm's future stock price crashes. This finding holds for multiple measures of conditional conservatism and crash risk and is robust to controlling for other known determinants of crash risk and firm-fixed effects. Moreover, we find that the relation between conservatism and crash risk is more pronounced for firms with higher information asymmetry. Overall, our results are consistent with the notion that conditional conservatism limits managers' incentive and ability to overstate performance and hide bad news from investors, which, …

Ceo Overconfidence And Management Forecasting, Paul Hribar, Holly I. Yang

Research Collection School Of Accountancy

This paper examines how overconfidence affects the properties of management forecasts. Using both the ‘over‐optimism’ and ‘miscalibration’ effects of overconfidence to generate our predictions, we examine three research questions. First, we examine whether overconfidence increases the likelihood of issuing a forecast. Second, we examine whether overconfidence increases the amount of optimism in management forecasts. Third, we examine whether overconfidence increases the specificity and precision of the forecast. We use both options‐ and press‐based measures to proxy for individual overconfidence, and find support for all three research questions. We further find that the results are concentrated among firms that provide forecasts …

Presentation Of The Book: "Accounting Education In Greece During The Gfc (2009-2016)", Dimitrios V. Siskos

Publications

A presentation of the book: Accounting Education in Greece During the GFC (2009-2016)