Accounting Commons^™

Auditing Standards Board (Asb) Meeting, February 16, 2011 Conference Call; Highlights (Asb) Meeting, February 16, 2011, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

Proposed Interpretations Of Statement On Standards For Tax Services No. 1, Tax Return Positions Proposed, Interpretation No. 1-1, “Reporting And Disclosure Standards,” Proposed Interpretation No. 1-2, “Tax Planning,” February 3, 2011, Comments Should Be Received By May 15, 2011; Exposure Draft (American Institute Of Certified Public Accountants), 2011, February 3, American Institute Of Certified Public Accountants. Tax Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Cpa Client Bulletin, February 2011, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Consistent Earnings Growth And The Credibility Of Management Forecasts, Adam S. Koch, Jong Chool Park

Accounting Faculty Publications

This paper examines the relation between a series of past earnings increases and the credibility of voluntary management earnings forecasts. We demonstrate that both analyst forecast revisions and stock price reactions around management earnings forecasts that contain good news are more pronounced when the firm has posted a string of recent earnings increases. These results are consistent with our primary hypothesis that voluntary management earnings forecasts are more believable when they are made by firms with a history of consistent growth in earnings. This effect is more pronounced when firms are not widely followed by analysts. Additional analysis suggests that …

Goodwill Non-Impairments, Dennis Chambers, Catherine Finger

Faculty Articles

The article discusses the use of goodwill non-impairment by companies to manage their earnings. The effect of Statement of Financial Accounting Standards (SFAS) 142 on goodwill-related earnings management is described. A table shows the results of related the working papers "Earnings Management By Avoiding or Reducing Goodwill Impairments," by Dennis Chambers, "Evidence on the Use of Unverifiable Estimates in Required Goodwill Impairment," by Karthik Ramanna and Ross L. Watts, and "Has Goodwill Accounting Gone Bad?," by Kevin K. Li and Richard G. Sloan.

Revised Applicability Of Statements On Standards For Accounting And Review Services; Statement On Standards For Accounting And Review Services 20, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

AICPA Professional Standards

No abstract provided.

Letter From Thomas Burrage, Cpa/Abv/Cff, Cva, Chair, Aicpa Forensic And Valuation Services Executive Committee, To Office Of Regulations And Interpretations, Employee Benefits Security Administration, U.S. Department Of Labor, Re: Definition Of Fiduciary Proposed Rule., American Institute Of Certified Public Accountants. Forensic And Valuation Services Executive Committee

Association Sections, Divisions, Boards, Teams

No abstract provided.

Tax Planning Alert--The 2010 Tax Act: Client Resources From Your Trusted Business Advisor., Martin M. Shenkman

Association Sections, Divisions, Boards, Teams

No abstract provided.

Proposed Revisions To The Aicpa Standards For Performing And Reporting On Peer Reviews, Performing And Reporting On Peer Reviews Of Compilation Performed Under Ssars 19, January 31, 2011, Comments Are Requested By April 29, 2011; Exposure Draft (American Institute Of Certified Public Accountants), 2011, January 31, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Revisions To The Aicpa Standards For Performing And Reporting On Peer Reviews, Performing And Reporting On Peer Reviews Of Compilation Performed Under Ssars 19, January 31, 2011, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

The Role Of Accounting In The Use Of Employee Options, Hemang Desai, Zining Li, Suning Zhang

Accounting Research

The determinants of the dramatic increase in the use of employee stock options in the 1990s and the subsequent decline in their popularity have been the subject of intense debate. Some have argued and found evidence to support that the discretion granted to firms to avoid recognizing the fair value of options as an expense led to their overuse for employee compensation. Others have argued and found evidence that the market “sees through” the accounting treatment for options and values firms as though options were expensed at fair value, regardless of financial statement treatment. We revisit this issue with the …

Agenda, Auditing Standards Board, January 11-13, 2011, Meeting San Juan, Puerto Rico, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

Auditing Standards Board (Asb) Meeting, January 11-13, 2011, San Juan, Puerto Rico; Highlights (Asb) Meeting, January 11-13, 2011, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

2010-2011 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2010-2011 Financial Summary of Morehead State University.

Fasb/Gasb Recognition And Reporting Differences: A Nonprofit Sector Perspective, Treba Marsh, Mary Fischer

Faculty Publications

The financial statement users’, investors’, donors’ and academic researchers’ understanding of current accounting recognition and reporting guidance affect their ability to compare financial information issued by nonprofit universities, hospitals, fund-raising organizations and government agencies. The financial results reported by public nonprofit organizations is different from that reported by private nonprofit organizations. This study discusses the events that brought about the divergence in nonprofit financial accounting recognition and reporting,and illustrates specific differences.

Environmental Risks: Doing Business In China, Jack R. Ethridge, Treba Marsh, Esther Bunn

Faculty Publications

Planning and conducting the audit of financial statements involves understanding the entity and the environment in which it operates. First and foremost this requires identifying the risks faced by the entity. Identifying these risks can be a complex and difficult task since the auditor needs to not only understand the entity’s risk process but also independently understand the risks facing the firm. Tackling this task will involve a comprehensive review of the external and internal factors affecting the business. It is possible many identified business risks are related to financial reporting risk and ultimately to audit risk. Therefore, the auditor …

Enterprise Risk Management For Fishing Tournaments, George Louis Hunt, Jack R. Ethridge, Violet Rogers

Faculty Publications

The fishing tournament industry is confronted with many of the same risks as other industries (such as financial statement misstatements), share some risks specific with others (such as cheating in casinos), and face some unique risks (such as the risk of competitors adding weight to fish).

This teaching case explores some of the risks inherent in the fishing tournament industry. Students are given background information about a how a tournament operates and then asked to perform an overall risk assessment using the COSO enterprise risk management framework. Elements of the assignment include assessing the internal environment, setting of objectives, and …

Relationship-Based Persuasion: A Guide For The Cpa, Maryanne Atkinson, James H. Thompson

All Faculty Scholarship for the College of Business

An issue faced by a CPA on a regular basis is how to persuade a client to take a recommended action. Maybe your client is unprepared financially for the future and needs to establish a retirement account. As much as your client understands the importance of planning for retirement, the allure of a new car or a kitchen renovation may be too great, and that sensible alternative you are recommending may be ignored until some uncertain future date. Or, maybe the client’s internal controls are inadequate. For many small businesses, where trust in employees is paramount, internal controls may be …

2011-2012 Operating Budget, Morehead State University. Budget & Financial Planning Office.

Morehead State University Operating Budgets Archive

2011-2012 Operating Budget of Morehead State University.

Superfluity And Murkiness In The Understanding Of Social Responsibility: A Content Analysis, Jaysinha Shinde, Raymond Wacker, Udaysinha Shinde, Zhenghong Hou

Faculty Research & Creative Activity

The popularity of the concept of social responsibility makes it a pertinent area for research by accounting scholars. This paper analyzes the current usage and understanding of the concept of social responsibility. Using the definitions used in academia and industry a preliminary scale is developed to measure social responsibility. As a pilot study, this scale is administered to business owners. Based on the responses of 57 Business owners, the psychometric properties of the scale are tested and a conceptual model of the underlying dimensions of social responsibility is presented.