Accounting Commons^™

Letter From Jeffrey A. Porter, Cpa, Chair, Aicpa Tax Executive Committee, To Tom Udall, Chairman, And Mike Johanns, Ranking Member, Senate Appropriations Subcommittee On Financial Services And General Government; Ander Crenshaw, Chairman, And Jose Serrano, Ranking Member, House Appropriations Subcommittee On Financial Services And General Government, Re: Irs Fiscal Year 2014 Budget., Jeffrey A. Porter, American Institute Of Certified Public Accountants. Tax Executive Committee

Association Sections, Divisions, Boards, Teams

No abstract provided.

Comparison Of Companies Issuing Pro-Forma Earnings And Restatements, Robert Jenson, Dr. Ted Christensen

Journal of Undergraduate Research

In recent years, companies have increasingly released financial performance numbers in addition to those required under generally accepted accounting principles (“GAAP”). These adjusted, or pro-forma earnings, have been a way for management to report earnings without extraordinary, one-time, or other items. Previous research suggests that management may use these pro-forma numbers to meet benchmarks such as analysts’ expectations when GAAP measurements fall short of these expectations.1 In addition, there are companies which – due to misstatements resulting from accounting errors or even fraud – are required to restate their earnings. These companies may have reported inflated earnings to reach benchmarks, …

What Makes An Accountant? A Longitudinal Study Of Students Entering The Profession, Kari Joseph Olsen, Dr. Monte Swain

Journal of Undergraduate Research

The goal of our project is to improve accounting education and career advisement for students. Our project has its roots in the growing demand in the accounting profession for people with dynamic analytical and interpersonal skills. We believe that through improved accounting courses and career advisement, BYU students in particular, will be better prepared to be successful in their chosen careers.

Should Religious Organizations Worry About Irs Audits?, Sarah J. Webber, Janet S. Greenlee

Accounting Faculty Publications

A great deal of media attention has focused on recent perceived financial abuses of churches and religious organizations. Cases of fraud within religious organizations have fueled the public perception that churches require some form of monitoring to prevent financial abuse. However, the IRS has limited authority to audit religious organizations under section 7611, and the results of such audits are generally unavailable to the public.

Through a Freedom of Information Act request, we obtained the outcomes of all section 7611 IRS audits of religious organizations conducted between 2001 and 2010. We found that although the number of both churches and …

Education Par Excellence: Developing Personal Competencies And Character Through Philanthropy-Based Education, Shirine L. Mafi, Marsha Huber

Business, Accounting and Economics Faculty Scholarship

This teaching note presents an innovation in accounting education called the Philanthropy Project. The Philanthropy Project emphasizes experiential learning and is designed to promote the learning of discipline-specific concepts while simultaneously addressing the social needs of the surrounding community. In the Philanthropy Project, students receive money to distribute to not-for-profit organizations (NFPs) based on a competitive proposal process they help to develop and administer. A distinguishing characteristic of this project is that it is not a simulation. Students make real decisions that have immediate consequences to certain groups of people in their own communities. They have to make …

Family Ownership And Ceo Turnovers, Xia Chen, Qiang Cheng, Zhonglan Dai

Research Collection School Of Accountancy

This paper investigates the impact of the founding family’s presence on CEO turnover decisions. We find that family firms managed by CEOs outside the founding family (i.e., professional CEO family firms) have higher CEO turnover-performance sensitivity than family firms managed by family members (i.e., family CEO firms) or non-family firms. These results are robust to alternative performance measures and CEO turnover definitions. Additional analyses indicate that higher family ownership leads to even higher (lower) turnover-performance sensitivity in professional CEO family firms (family CEO firms). These results indicate that, with regard to CEO turnover decisions, better monitoring of CEOs by family …

60% Cash Payout Or 400% Pic Claim? Which Is Better? (Part 1), Clement Kai Guan Tan, Teng Aun Khoo

Research Collection School Of Accountancy

How to decide whether to choose cash payout or PIC 400% claim

Performing Agreed-Upon Procedures Engagements That Address The Completeness, Mapping, Consistency, Or Structure Of Xbrl-Formatted Information; Statement Of Position, 13-2, American Institute Of Certified Public Accountants. Xbrl Assurance Task Force

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Checklists And Illustrative Financial Statements For Corporations, September 30, 2013, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Health Care Entities, September 1, 2013; Audit & Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

The Impact Of Ineffective Internal Control On The Value Relevance Of Accounting Information, Nan Hu, Baolei Qi, Gaoliang Tian, Lee Yao, Zhen Zeng

Research Collection School Of Computing and Information Systems

This paper investigates the value relevance of accounting information in the presence of ineffective internal control (IIC). Based on Ohlson's valuation model, this paper first documents that IIC can directly affect a firm's market value after control cost of capital, corporate governance, and other, value-relevant variables. Second, this paper finds that the value relevance of earnings and book value in determining a firm's market value are significantly reduced. Collectively, the results of this paper indicate that the effectiveness of internal controls can directly affect a firm's market value and the value relevance of accounting information.

Managerial Incentives And Management Forecast Precision, Qiang Cheng, Ting Luo, Heng Yue

Research Collection School Of Accountancy

Managers have great discretion in determining forecast characteristics, butlittle is known about how managerial incentives affect these characteristics. This paperexamines whether managers strategically choose forecast precision for self-servingpurposes. Building on the prior finding that the market reaction to vague forecasts isweaker than its reaction to precise forecasts, we find that for management forecastsdisclosed before insider sales, more positive (negative) news forecasts are more (less)precise than other management forecasts. The opposite applies to managementforecasts disclosed before insider purchases. These results are consistent withmanagers strategically choosing forecast precision to increase stock prices beforeinsider sales and to decrease stock prices before insider purchases. …

A Survey Of Executive Compensation Contracts In China’S Listed Companies, Yubo Li, Fang Lou, Jiwei Wang, Hongqi Yuan

Research Collection School Of Accountancy

We analyze 228 executive compensation contracts voluntarily disclosed by Chinese listed firms and find that central-government-controlled companies disclose more information in executive compensation contracts than local-government-controlled and non-government-controlled companies. Cash-based payments are the main form of executive compensation, whereas equity-based payments are seldom used by Chinese listed companies. On average, there are no significant differences in the value of basic salaries and performance-based compensation in executive compensation contracts. But, compared with their counterparts in non-government-controlled companies, executives in government-controlled companies are given more incentive compensation. Accounting earnings are typically used in executive compensation contracts, with few firms using stock returns …

Ias 39 Reclassification Choice And Analyst Earnings Forecast Properties, Chee Yeow Lim, Chu Yeong Lim, Gerald J. Lobo

Research Collection School Of Accountancy

In October 2008, the International Accounting Standards Board amended IAS 39 to allow banks to retroactively reclassify financial assets that previously were measured at fair value to amortized cost. By reclassifying financial assets, a bank can potentially avoid recognizing the unrealized fair value losses and thereby increase its income and regulatory capital during a market downturn. We examine the implications of the reclassification decision by banks for the properties of financial analyst earnings forecasts during 2008–2009, when economic conditions were highly volatile. We find that the reclassification choice during the financial crisis reduced analyst forecast accuracy and increased forecast dispersion. …

Managerial Incentives And Management Forecast Precision, Qiang Cheng, Ting Luo, Heng Yue

Research Collection School Of Accountancy

Managers have great discretion in determining forecast characteristics, but little is known about how managerial incentives affect these characteristics. This paper examines whether managers strategically choose forecast precision for self-serving purposes. Building on the prior finding that the market reaction to vague forecasts is weaker than its reaction to precise forecasts, we find that for management forecasts disclosed before insider sales, more positive (negative) news forecasts are more (less) precise than other management forecasts. The opposite applies to management forecasts disclosed before insider purchases. These results are consistent with managers strategically choosing forecast precision to increase stock prices before insider …

Family Histories And Genealogies Over The Internet: What Is Now Available, Thomas O. Meservy, Dr. Rayman D. Meservy

Journal of Undergraduate Research

The objective of my research is to determine how to effectively organize and distribute family histories and genealogies over the Internet. I am interfacing the genealogical files using the PAF standard, which was produced by the LDS church, onto the Internet. The information and standards which are available on the Internet are being combined with the most effective method of producing a user-friendly front end to provide an ideal system for genealogical exchange, distribution, and collaboration.

Family Histories And Genealogies Over The Internet: What Is Now Available, Thomas O. Meservy, Dr. Rayman D. Meservy

Journal of Undergraduate Research

The objective of my research is to determine how to effectively organize and distribute family histories and genealogies over the Internet. I am interfacing the genealogical files using the PAF standard, which was produced by the LDS church, onto the Internet. The information and standards which are available on the Internet are being combined with the most effective method of producing a user-friendly front end to provide an ideal system for genealogical exchange, distribution, and collaboration.

Proposed Statement On Standards For Attestation Engagements, Attestation Standards: Clarification And Recodification, July 24, 2013,Comments Are Requested By October 24, 2013; Exposure Draft (American Institute Of Certified Public Accountants), 2013 July 24, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

An Osa Model For The Optometry Field, Conan C. Albrecht, Dr. Stephen W. Liddle

Journal of Undergraduate Research

Many health fields have progressed slowly in the area of computer systems. My research focused on these systems specifically on the optometry health field. Many problems exist with the current systems available to optometrists. This fact is evident by their current use; a survey of ten optometry offices revealed the following distribution:

An Osa Model For The Optometry Field, Conan C. Albrecht, Dr. Stephen W. Liddle

Journal of Undergraduate Research

Many health fields have progressed slowly in the area of computer systems. My research focused on these systems specifically on the optometry health field. Many problems exist with the current systems available to optometrists. This fact is evident by their current use; a survey of ten optometry offices revealed the following distribution: