Accounting Commons^™

Independence And Ethics Developments - 2011/12; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Health Care Industry Developments - 2011/12; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

General Accounting And Auditing Developments, 2011/12; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Rivera Custom Cabinetry: Financial Statement Analysis Using Excel, Benoit Boyer, Bridget Lyons

WCBT Faculty Publications

This case illustrates the impact of various business transactions on a firm’s financial statements. The case objective is to highlight how business transactions affect financial statements and to illustrate the links between financial statements and key ratios. The case was developed and piloted as a final project in an introductory accounting class and as an accounting review in a corporate finance course. In each part of the case, students are asked to show the impact of a business transaction on the firm’s balance sheet and income statement. The cash flow statement and financial ratios calculate automatically. Part 1 of the …

The Evaluation Of The Implementation Of Fair Value Accounting: Impact On Financial Reporting, Karen Cascini, Alan Delfavero

WCBT Faculty Publications

The accounting industry is in a state of continuous change. In the United States, the historical cost principle has traditionally been the foundation of accounting. Until recently, assets and liabilities have been required to be recorded at their acquisition prices, with the exception of designated financial assets and financial liabilities. However, the Financial Accounting Standards Board (FASB) has now created accounting standards that are distant from the cost principle. Statement of Financial Accounting Standards No. 157: Fair Value Measurements, issued in September 2006 (FAS157, now codified as ASC 820) and Statement of Financial Accounting Standards No. 159: The Fair Value …

Guidance For Accounting Professors, Stephen Scarpati

WCBT Faculty Publications

When reflecting upon their choice ofcareer, many CPAs look back to a particular college accounting professor as a source of influence. In return, many accounting professors warmly recall the assistance they were able to give students. While the benefits of a successful CPA career are obvious to many, from the standpoint of a 19-year-old undergraduate trying to pick a major, the decision is daunting. The demands of a challenging accounting curriculum can be intimidating. Add the complex regulations and rigorous examination for CPA licensing and the expectations can be overwhelming to a young student. Accounting professors can play a vital …

Quality Of Work Life: A Review Of Literature, Maynard R. Bagtasos

DLSU Business & Economics Review

The Quality of Work Life (QWL) is a multi-faceted concept, having multi-dimensional constructs brought about by the variation of interest of the researchers and/or its users. The issue of QWL has become critical due to the increasing demands of today’s business environment and of the family structure. This gave rise to an increased interest in QWL not only in business but also for many professions and fields. Determining QWL always involves the interplay between and among the worker, job content, and job context. Furthermore, the determination of the extent of QWL in an organization is a perceptual undertaking. As such, …

Empirical Comparison Of Extreme Value Theory Vis-À-Vis Other Methods Of Var Estimation Using Asean+3 Exchange Rates, Cesar C. Rufino, Emmanuel G. De Guia

DLSU Business & Economics Review

This study applies Extreme Value Theory in calculating Value-at-Risk (VaR) of portfolios consisting of foreign exchange exposures of ASEAN+3 countries. This paper addresses the issue that traditional VaR models assume normality of the return distribution. Empirical evidence confirms the stylized facts that financial asset returns are typically negatively skewed and fat-tailed. Moreover, risk management concerns itself with the distribution of the tails, or events in the extremes of the distribution. Estimation of magnitude and the likelihood of extreme events should be given greater attention than central tendency characteristics. Thus, this paper proposes the application of Extreme Value Theory in computing …

Correlates Of Poverty: Evidence From The Community-Based Monitoring System (Cbms) Data, Rechel G. Arcilla, Frumencio F. Co, Shirlee R. Ocampo

DLSU Business & Economics Review

This study identified correlates of poverty for Pasay City and Mogpog, Marinduque representing an urban and a rural area in the Philippines, respectively, by utilizing the 2005 census data from its Community-Based Monitoring System. Regression models with the arcsine of the square root of barangay level poverty incidence as dependent variable were investigated which allowed the identification of the correlates of poverty at the barangay level. Results showed that the significant correlates of barangay poverty incidence were average household size, proportion of households whose housing units/lot are not owned and proportion of households who own telephone/cellphone. Furthermore, lower poverty incidences …

The Geographic Profiling Of Poverty And Accessibility: The Case Of Two Provinces In The Philippines, Alexis M. Fillone, Nicanor Roxas Jr., Cristela G. Dakila

DLSU Business & Economics Review

This study attempts to relate the poverty problem in the Philippines using spatial accessibility measures. Spatial accessibility is the ease with which one could avail of the social services and economic opportunities laid in geographic space to the individual. Using the provinces of Eastern Samar and Siquijor Island as case studies, a Social Composite Index (SCI) value for the household was derived from the 13+1 CBMS core indicators of poverty, which represents the unmet needs of the household and which was then aggregated at the barangay level. The spatial accessibility values were estimated by measuring how each barangay, specifically households, …

Audit Committee Observation/Recommendations Versus Practices As A Compliance Of Corporate Governance In India, Debabrata Chatterjee

DLSU Business & Economics Review

The series of accounting scandals have intensified pressure from stakeholders and regulators on the audit committees to do the jobs for which they are hired. Though most companies have audit committees, their role has been limited due to the lack of expertise and time. An active audit committee is important because it indicate the commitment to the issues of interest because of the reports it release about the activities undertaken during the financial year and the efforts made to ensure adequate internal control. Audit committees must be given the role to approve and review audit fees, thus neutralizing the bias …

Empirical Analysis Of Impact Of Capital Market Development On Nigeria’S Economic Growth (1981 – 2008) (Case Study: Nigerian Stock Exchange), Rowland T. Obiakor, Andy T. Okwu

DLSU Business & Economics Review

This study empirically examined the impact of capital market development on economic growth in Nigeria for the period 1981-2008. The major tool we employed for empirical analysis is a multiple regression analysis model specified on the basis of hypothesized functional relationship between capital market development and economic growth. For capital market development indicators, we considered ratios of value of shares traded, market capitalization, gross capital formation and foreign private investment, to gross domestic product, as explanatory variables, while we used growth rate of gross domestic product as the dependent variable. We introduced an error correction term to capture the flexibility …

Ifrs: A Detailed Look At Progress In The United States, Johnny Ko

CMC Senior Theses

This paper will examine the history of international accounting that eventually led to the adoption of IFRS in the European Union. It will have an in depth analysis of IFRS and what it may mean for the United States should there be an adoption or a convergence. It will also comment on what needs to be considered in the convergence or adoption process.

مدى تطبيق واعتماد المصارف المحلية العراقية للحوكمة المصرفية.. دراسة ميدانية لعينة من المصارف العاملة في القطاعين الحكومي والخاص في بيئة العمل العراقية, محمد سمير دهيرب

Muthanna Journal of Administrative and Economics Sciences

تهدف الدراسة إلى التعرف على الحوكمة المصرفية وفقا لمبادئ وقواعد الحوكمة الصادرة عن منظمة التنمية والتعاون الاقتصادي (OECD) ولجنة بازل Basel) ) للرقابة المصرفية، حيث جاءت الدراسة لتسلط الضوء على مفاهيم وأهداف ومزايا الحوكمة, وقد تم تطبيق الحوكمة المصرفية في عينة من المؤسسات المالية ومنها المصارف المحلية العاملة في البيئة العراقية باعتبارها الركائز الأساسية للاقتصاد الوطني واحد دعائمه وذلك باستخدام أسلوب استمارات الاستبانة في مجتمع الدراسة المتكون من (30) موظف. إن أهم ما جاء بالدراسة من استنتاجات، أن مبادئ الحوكمة عند تطبيقها من شأنها أن تؤدي إلى تحقيق العدالة والشفافية وحماية حقوق المودعين وتعمل على تخفيض معدلات الفساد المالي والإداري …

Ownership Structure, Board Characteristics, And Tax Aggressiveness, Ying Zhou

Lingnan Theses

Tax aggressiveness, as commonly proxied by the effective tax rate (ETR), measures a firm’s effort spent on minimizing its tax payments. It is suggested that more tax aggressive firms have greater incentives to allocate resources to minimize taxes and thus have lower ETRs. Corporate governance has been continuously receiving attention in literature across different fields and can affect a firm’s tax strategy through its control mechanism. This thesis investigates how corporate governance influences a firm’s tax aggressiveness. The main hypothesis of this thesis is whether firms with good corporate governance will have less incentives and opportunities to manage tax aggressively. …

The Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samarthe Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samar¹, Tereso S. Tullao Jr, John Paolo R. Rivera

DLSU Business & Economics Review

The Philippines committed itself to the United Nations’ Millennium Development Goals (MDG), one of which is the universal access to primary education by 2015. To address the goal, supply factors and demand factors must be considered. Supply factors refer to the ability of the government to provide resources to finance elementary education. Demand factors refer to the variables affecting household’s decision to demand educational services such as income, education cost, and demographic characteristics of the households: age structure and family characteristics. This study explored the extent to which household income and household head employment status influence elementary school participation rate …

Do Ceos And Principal Financial Officers Take A "Bath" Separately Or Together?: An Investigation Of Discretionary Accruals Surrounding Appointments Of New Ceos And Pfos, Marshall A. Geiger, David S. North

Accounting Faculty Publications

This study presents the first targeted examination of changes in financial reporting surrounding the appointment of both new CEOs and Principal Financial Officers (PFOs). We identify companies that appoint new CEOs and PFOs in the period 1995 to 2002 and find that the change in discretionary accruals is negative and significant in the year of hire (from t-1 to t) for firms appointing a new CEO or both a new CEO and PFO (i.e., the "big bath"), but not for firms appointing only a new PFO. We also find that firms appointing both executives in the same year report significant …

The Influence Of Irrelevant Information On Is Auditor Key Risk Factor Predictions, Daniel D. Selby

Accounting Faculty Publications

Can information systems (IS) auditors ignore irrelevant information when they assess key risk factors (KRFs)? Irrelevant information is information that is of little or no value to a specific task or predicted future outcome. When assessing a KRF, IS auditors sift through numerous pieces of information to target items that are relevant to understanding the KRF. Some items encountered by IS auditors may be relevant to understanding the KRF, while other items encountered may be irrelevant. IS auditors should ignore irrelevant information when they assess KRFs.

An example of irrelevant information that an IS auditor may encounter during a financial …

An Effective And Efficient Analytic Technique: A Bootstrap Regression Procedure And Benford's Law, Ikseon Suh, T. Christopher Headrick, Sandra Minaburo

Accounting Faculty Research and Publications

No abstract provided.

The Effects Of Disclosure Type And Audit Committee Expertise On Chief Audit Executives’ Tolerance For Financial Misstatements, Carolyn S. Norman, Jacob M. Rose, Ikseon Suh

Accounting Faculty Research and Publications

This study involves an experiment where 73 Chief Audit Executives and deputy Chief Audit Executives determine the amount of adjustment required to correct a misstatement. We manipulate the financial reporting location of the misstatement (recognized vs. disclosed) and the level of audit committee expertise (high vs. low). The results indicate that financial reporting location has significant effects on internal auditors’ decisions to correct misstatements. Specifically, internal auditors are more willing to waive disclosed misstatements relative to recognized misstatements. Contrary to expectations, the results do not indicate that increased audit committee expertise and associated increases in audit committee members’ perceived powers …