Cpa Client Bulletin, July 2011,
2011
University of Mississippi
Cpa Client Bulletin, July 2011, American Institute Of Certified Public Accountants (Aicpa)
Newsletters
No abstract provided.
Cpa Client Tax Letter, July/August/September 2011,
2011
University of Mississippi
Cpa Client Tax Letter, July/August/September 2011, American Institute Of Certified Public Accountants (Aicpa)
Newsletters
No abstract provided.
End-User Computing Applications,
2011
Kennesaw State University
End-User Computing Applications, Mary C. Hill, W. Alan Barnes
Faculty Articles
Businesses today rely on the work being done by staff using personal computers. The proliferation of personal computers has led to widespread implementation of end-user computing applications. As their name implies, end-user applications are designed, implemented, and controlled by users rather than by IT professionals. End-user applications can be risky for organizations, both with respect to management decision making and to financial reporting. For public companies, the risk involved in these applications has been increased by the requirements of the Sarbanes-Oxley Act of 2002, which call for management to document end-to-end financial operations and internal control structures. This article review …
Internal Control Disclosures, Monitoring, And The Cost Of Debt,
2011
Trinity University
Internal Control Disclosures, Monitoring, And The Cost Of Debt, Dan Dhaliwal, Chris E. Hogan, Robert Trezevant, Michael S. Wilkins
School of Business Faculty Research
We test the relationship between the change in a firm's cost of debt and the disclosure of a material weakness in an initial Section 404 report. We find that, on average, a firm's credit spread on its publicly traded debt marginally increases if it discloses a material weakness. We also examine the impact of monitoring by credit rating agencies and/or banks on this result and find that the result is more pronounced for firms that are not monitored. Additional analysis indicates that the effect of bank monitoring appears to be the primary driver of these monitoring results. This finding is …
Conflict Of Interest Reforms And Analysts’ Research Biases,
2011
Singapore Management University
Conflict Of Interest Reforms And Analysts’ Research Biases, Hai Lu, Hai Lu, Yuyan Guan
Research Collection School Of Accountancy
This study examines the consequences of the series of reforms targeting investment-banking-related conflicts of interest. We compare and contrast optimism biases in analysts’ stock recommendations and earnings forecasts across different types of analyst firms in the post-reform period 2004–2007 versus the pre-reform period 1998–2001. We document a significant reduction in the relative optimism of sanctioned investment bank analysts’ stock recommendations, but not their earnings forecasts. Moreover, we find little change in the profitability of their stock recommendations, but detect a drop in the accuracy of earnings forecasts made by investment bank analysts. In sum, the reforms achieve the objective of …
Unregulated Stock Markets In Second Life,
2011
Singapore Management University
Unregulated Stock Markets In Second Life, Robert Bloomfield, Young Jun Cho
Research Collection School Of Accountancy
SLCapex is a stock exchange owned and operated by “residents” of the online virtual world Second Life. Despite its almost complete lack of regulation and legal protections against fraud or insider trading, issuers were able to raise approximately US$145,000 from investors, which grew to US$900,000 in market value before plummeting, resulting in overall investor returns of −71%. Investors in large issuances lost more than investors in small issuances, and small investors experienced more severe losses relative to large investors when more money was at stake, indicating that the market did a poor job of protecting investors from issuers and of …
Executive Equity Compensation And Earnings Management: A Quantile Regression Approach,
2011
Singapore Management University
Executive Equity Compensation And Earnings Management: A Quantile Regression Approach, Chih-Ying Chen, Ming-Yuan Li
Research Collection School Of Accountancy
Prior research has investigated the association between executive equity compensation and earnings management but the evidence is not conclusive. We investigate this question using the quantile regression approach which allows the coefficient on the independent variable (equity compensation) to shift across the distribution of the dependent variable (earnings management). Based on a sample of 18,203 U.S. non-financial firm-year observations from 1995 to 2008, we find that chief executive officer (CEO) equity compensation is positively associated with the absolute value of discretionary accruals at all quantiles of absolute discretionary accruals, but the association becomes weaker as the quantile decreases. The association …
Assessing Audit Risk,
2011
Andrews University
Assessing Audit Risk, Annetta M. Gibson
Faculty Publications
Presentation for the General Conference Auditing Service meeting, San Diego, California, June 20, 2011.
Individual Taxation: Digest Of Recent Developments,
2011
University of Louisiana at Lafayette
Individual Taxation: Digest Of Recent Developments, Ellen Cook, Edward A. Gershman, Janet Hagy, Jonathan Horn, Daniel T. Moore, Annette Nellen, Kenneth L. Rubin
Faculty Publications
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 extended the current individual income tax rates on ordinary income and the rates on qualified dividend and capital gains income for two years through 2012. * The IRS, changing its long-standing position, ruled that debt on a mortgage loan used to acquire, construct, or substantially improve a qualified residence, to the extent it exceeds $1 million, qualifies as home equity indebtedness, and thus the interest on up to $100,000 of that debt is deductible as an itemized deduction. * The Tax Court held that the Sec. 121 exclusion …
Cpa Client Bulletin, June 2011,
2011
University of Mississippi
Cpa Client Bulletin, June 2011, American Institute Of Certified Public Accountants (Aicpa)
Newsletters
No abstract provided.
A Survey Of Accounting Educators Regarding Convergence Of Financial Reporting Standards,
2011
Central Washington University
A Survey Of Accounting Educators Regarding Convergence Of Financial Reporting Standards, James H. Thompson, John M. Thornton
All Faculty Scholarship for the College of Business
Generally accepted accounting principles (GAAP) and international financial reporting standards (IFRS) are becoming more and more similar. Though their sources are different and though GAAP has the force of the authority in the United States, the two sets of standards are reaching a greater level of convergence. In some cases, GAAP has been altered in order to align with the position of IFRS. Similarly, some IFRS have been altered in order to converge with GAAP. The motivation for these changes is to improve financial reporting standards across political borders by creating a common set of standards. In the process, global …
Aicpa Assurance Services Executive Committee. Xbrl Assurance Task Force. Proposed Principles And Criteria For Xbrl-Formatted Information, June 1, 2011, Comments Requested By July 15, 2011; ; Exposure Draft (American Institute Of Certified Public Accountants), 2011, June 1,
2011
University of Mississippi
Aicpa Assurance Services Executive Committee. Xbrl Assurance Task Force. Proposed Principles And Criteria For Xbrl-Formatted Information, June 1, 2011, Comments Requested By July 15, 2011; ; Exposure Draft (American Institute Of Certified Public Accountants), 2011, June 1, American Institute Of Certified Public Accountants. Ssurance Service Executive Committee. Xbrl Assurance Task Force
Exposure Drafts, Comment Letters, and Statements of Position
No abstract provided.
Can The Use Of Clickers Or Continous Assessment Motivate Critical Thinking?: A Case Study Based On Corporate Finance Students,
2011
Technological University Dublin
Can The Use Of Clickers Or Continous Assessment Motivate Critical Thinking?: A Case Study Based On Corporate Finance Students, Lucia Morales
Articles
This study explores the use of clickers as a tool to support, encourage and motivate critical thinking in higher education students. A case study was carried out with a cohort of undergraduate students undertaking the BSc. in Accounting and Finance during the academic year 2009/10, were corporate finance was a major component. Since the students in this sample had previously demonstrated passivity during their corporate finance classes, it was proposed that clickers would help motivate them to participate during face to face sessions. Previous research on the use of clickers shows evidence that this tool has a positive effect on …
Corporate Tax Avoidance And Stock Price Crash Risk: Firm-Level Analysis,
2011
City University of Hong Kong
Corporate Tax Avoidance And Stock Price Crash Risk: Firm-Level Analysis, Jeong-Bon Kim, Yinghua Li, Liandong Zhang
Research Collection School Of Accountancy
Using a large sample of U.S. firms for the period 1995-2008, we provide strong and robust evidence that corporate tax avoidance is positively associated with firm-specific stock price crash risk. This finding is consistent with the following view: Tax avoidance facilitates managerial rent extraction and bad news hoarding activities for extended periods by providing tools, masks, and justifications for these opportunistic behaviors. The hoarding and accumulation of bad news for extended periods lead to stock price crashes when the accumulated hidden bad news crosses a tipping point, and thus comes out all at once. Moreover, we show that the positive …
Spring Meeting Of Council, May 22-24, 2011, Washington, Dc,
2011
University of Mississippi
Spring Meeting Of Council, May 22-24, 2011, Washington, Dc, American Institute Of Certified Public Accountants. Council
Association Sections, Divisions, Boards, Teams
No abstract provided.
Impact On Financial Statements Of New Accounting Model For Leases,
2011
University of Connecticut - Storrs
Impact On Financial Statements Of New Accounting Model For Leases, Wenqi Ma
Honors Scholar Theses
On August 17, 2010 the IASB and FASB published an Exposure Draft on leases. A new accounting model for leases which would include both financing lease and operating leases was proposed. According to the World Leasing Yearbook 2010, $640 billion was involved in leasing activity, of which a significant amount is not reported on the lessees' balance sheets [1]. The current leases which firms report in the financial statement notes showed that most companies currently have financing leases although many do not capitalize all of these leases. The new accounting model for leases would be a challenge for companies to …
Sarbanes-Oxley And Corporate Greed,
2011
University of Connecticut - Storrs
Sarbanes-Oxley And Corporate Greed, Adria L. Stigliano
Honors Scholar Theses
The Sarbanes-Oxley Act is still a relatively new federal law set forth by the Securities Exchange Commission in 2002. Since its implementation, individuals have been wondering if Sarbanes-Oxley is effective enough and doing what it is meant to do – catch and prevent future accounting frauds and scandals. With the use of closer and stricter rules, the SOA is trying to prevent frauds with the use of a created Public Company Accounting Oversight Board. Most importantly, however, it was created to protect the investors from self-interested managers, so as to not have repeats of the Enron, WorldCom and Tyco International …
Leases: Off-Balance Sheet Financing And The Strive For Transparency Today,
2011
Liberty University
Leases: Off-Balance Sheet Financing And The Strive For Transparency Today, Brian R. Edman
Senior Honors Theses
In today’s world, leases appear far and wide; they are commonplace throughout the business and accounting frontiers. Accounting for leases, however, is not so clear cut. Since there are various ways to account for leases, many companies pick and choose which they feel best suits their situation, even when this sweeps dirt under the rug along the way. The financial procedures for dealing with leases should entail benefits as well as limitations to ensure each company is fairly representing all of its financial information. Off-balance sheet financing is one of the hot topics in accounting for leases because of the …
Auditing Standards Board (Asb) Meeting, May 3-5, 2011, Las Vegas, Nevada; Highlights (Asb) Meeting, May 3-5, 2011,
2011
University of Mississippi
Auditing Standards Board (Asb) Meeting, May 3-5, 2011, Las Vegas, Nevada; Highlights (Asb) Meeting, May 3-5, 2011, American Institute Of Certified Public Accountants. Auditing Standards Board
Association Sections, Divisions, Boards, Teams
No abstract provided.
Letter From Mark J. Koziel, Cpa, Director, Aicpa Specialized Communities And Firm Practice Management, To Dr. Khem Sharma, Assistant Director, Office Of Size Standards, U.S. Small Business Administration, Re: Determination Of Appropriate Size Standard That Would Ensure The Sound Federal Government Procurement Of Accounting Services., Mark J. Koziel, Odysseus Lanier
Association Sections, Divisions, Boards, Teams
No abstract provided.
