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Converging Transnational Financial Reporting Standards: Validating The Joint Fasb/Iasb Concept Of Information Quality, Jim Watkins

Doctoral Dissertations

Accelerating cross-border investing activity transformed global financial markets during the latter part of the 20th century. Due to lack of trans-cultural consistency comparability in financial reporting was compromised hindering multinational investment. In light thereof there is a movement afoot among international authorities to converge national financial reporting standards into a single international financial reporting system. In September 2010 Financial Accounting Standards Board and International Accounting Standards Board agreed on a concept of information quality to guide formulation of internationally acceptable financial reporting standards. The Boards' goal is sustenance of local relevance while achieving transnational comparability. Toward that end, instead of …

Executive Compensation And Regulation Imposed Governance: Evidence From The California Non-Profit Integrity Act (2004), Tharindra Ranasinghe, S. Khumawala, S. Mishra, S. Dhole

Research Collection School Of Accountancy

No abstract provided.

Depository And Lending Institutions: Banks And Savings Institutions, Credit Unions, Finance Companies And Mortgage Companies, With Conforming Changes As Of July 1, 2012; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Comment Letters On Omnibus Proposal, Aicpa Professional Ethics Division, Proposed Revised And New Interpretations And Proposed Deletion Of Ethics Rulings, June 29, 2012, Comments Are Requested By August 31, 2012, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Statements On Standards For Accounting And Review Services, Association With Unaudited Financial Statements, Compilation Of Financial Statements, Compilation Of Financial Statements—Special Considerations, June 29, 2012, Comments Are Requested By August 31, 2012, Comment Deadline Extended To November 30, 2012; Exposure Draft (American Institute Of Certified Public Accountants), 2012, June 29, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Omnibus Proposal, Aicpa Professional Ethics Division, Proposed Revised And New Interpretations And Proposed Deletion Of Ethics Rulings, June 29, 2012, Comments Are Requested By August 31, 2012 Comment Deadline Extended Until November 30, 2012; Exposure Draft (American Institute Of Certified Public Accountants), 2012, June 29, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Analyst Vs. Market Forecasts Of Earnings Management To Avoid Small Losses, Michael Eames, Yongtae Kim

Accounting

Burgstahler and Eames (2003) present evidence that analysts commonly anticipate earnings management to avoid small losses, but often incorrectly predict its occurrence. Here we consider whether the market's behavior mimics that of analysts. Our results suggest that analysts exhibit more forecast optimism in their zero earnings forecasts than in their other small earnings forecast levels, and markets exhibit less relative optimism at this point. At the 271-360 day forecast horizon, we find a reduction in the earnings response coefficient at analysts' zero earnings forecasts and interpret this as reflecting less optimism in market earnings forecasts than in analyst forecasts when …

Does Corporate Governance Influence Misstatement Disclosure Timeliness?, Rapheal Joseph Hamilton

Business Administration - Dissertations

The relationship between corporate governance and firm disclosure for firms in crisis, specifically firms in violation of GAAP, may differ from the relationship demonstrated in prior literature between governance and voluntary disclosure. An emerging stream of disclosure literature assumes that the relationship between corporate governance and misstatement disclosure choices mirror that found in prior voluntary disclosure literature though no study has empirically demonstrated that a similar relationship exists. Using a sample of 302 accounting irregularities disclosed between 2000 and 2006, I investigate the role of corporate governance, including both internal and external mechanisms, in influencing misstatement disclosure timeliness. I provide …

Client Conservatism And Auditor-Client Contracting, Yoonseok Zang, Chee Yeow Lim, Mark Defond

Research Collection School Of Accountancy

Auditors risk costly litigation and loss of reputation when they are associated with clients that engage in substandard financial reporting, and prior research argues that accounting conservatism reduces managements‟ tendency to misreport. Thus, we predict that client conservatism affects auditor-client contracting by reducing auditor litigation and reputation risk. Consistent with our predictions, we find that conservative audit clients are less likely to trigger auditor litigation or issue accounting restatements; and that auditors of conservative clients charge lower audit fees, issue fewer going concern opinions, and resign less frequently. Taken together, these findings are consistent with client accounting conservatism playing an …

Proposed Changes To The Aicpa Standards For Performing And Reporting On Peer Reviews, Scope Of System Review And Must Select Engagements, June 1, 2012, Comments Are Requested By August 31, 2012; Exposure Draft (American Institute Of Certified Public Accountants), 2012, June 1, American Institute Of Certified Public Accountants. Peer Review Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

More Than Nothing? Auditing Business Studies, Stefano Harney, Stephen Dunne

Research Collection Lee Kong Chian School Of Business

This paper argues that business school scholarship can be seen as the example par excellence of what we are calling extreme neo-liberalism. By extreme neo-liberalism we mean the coexistence in the same sphere of extreme externalization of costs and extreme regulation of the sources of value. We argue that this condition is most obvious in the research audits conducted in Britain, and spreading globally, audits that record both the extreme externalization in business scholarship of all the sources of the wealth expropriated by business, and at the same time, regulate the very labour that produces this extreme self-regulation. Although this …

Checklists & Illustrative Financial Statements, Not-For-Profit Entities, May 31, 2012, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Effects Of Accounting Regulations On Economic Decision-Making: A Case Study In The Film Industry, Christopher Rizzio

Honors Scholar Theses

Big actors, big effects, and big budgets all characterize today’s movies. Companies that produce these films have continued to increase spending to create better pictures and attract more people to the theatre. As part of the media and entertainment industry, film companies are subject to several specific accounting rules that govern the reporting of revenues and the classification of film expenses. However, many of these rules issued by the Financial Accounting Standards Board (FASB) are subject to a good deal of interpretation. These ambiguities can make it difficult to correctly report earnings in an industry that spends billions of dollars …

Determinants And Implications Of Audit Reporting Lags In China, Wei Luo

Lingnan Theses

Timeliness is an essential attribute of corporate financial reporting as it affects the usefulness of information made available to external investors. The recognition that the length of audit is the single most important determinant influencing the timeliness of earnings announcements has motivated investigations on audit reporting lags in different countries. Nevertheless, there is a lack of research on this issue in China where the institutional environment for accounting and auditing practices is different from that of other countries. The growing interest in the Chinese stock market from domestic and international investors further increases the importance of this research. In this …

The Debate Over The 150 Credit Requirement, Amy Wong

Accounting

In 1983, Florida adopted a 150 credit hour rule in order for a CPA candidate to sit for the CPA exam. In 1989, the AICPA voted to recommend that all states follow Florida’s lead to adopt the 150-hour rule (Carpenter and Hock 2009). The events that led to the Sarbanes-Oxley Act of 2002 raise the question of just how helpful those extra credits are in improving the knowledge of accounting professionals in their field. A previous study has shown that the 150-hour requirement does not affect pass rates (Allen and Woodland 2006). Another study has shown that when there was …

The Alignment Between The Accounting Education At College And The Profession In Public Accounting, Akihiro Katsura

Accounting Undergraduate Honors Theses

This thesis examines the alignment between the college accounting education and the profession in public accounting from three different perspectives – college students majoring in Accounting, accounting faculty members and professionals in public accounting.

Geographic Proximity Between Auditor And Client: How Does It Impact Audit Quality?, Jong-Hag Choi, Jeong-Bon Kim, Aini Qiu, Yoonseok Zang

Research Collection School Of Accountancy

Using a large sample of audit client firms, this paper investigates whether and how the geographic proximity between auditor and client affects audit quality proxied by accrual-based earnings quality. We define an auditor as a local auditor (1) if the auditor’s practicing office is located in the same metropolitan statistical area (MSA) as the client's headquarters and (2) if the geographic distance between the two cities where the auditor’s practicing office and the client’s headquarters are located is within 100 kilometers or they are in the same MSA. As predicted, our empirical results are consistent with local auditors providing higher-quality …

Information Systems Procurement Process Risk And Control: Insights From A Public Sector Organization, Shan Chi Gary Pan, Manjari Mehta, Poh Sun Seow

Research Collection School Of Accountancy

This case highlights the specific risks and issues that may be encountered in the information systems (IS) procurement process in a country where bribery and corruption are more common. PSO is a large Indian public sector organization involved in energy-related business. Being financially deprived, PSO relied on government funding to build its infrastructures. Besides the funding support, PSO also inherited the bureaucratic structure and the corruption practices. Lately, PSO was involved in several IS infrastructure and applications upgrading projects and wanted to review its IS procurement process. Does PSO understand the process risks in public IS procurement? Does PSO have …

Checklists And Illustrative Financial Statements For State And Local Governmental Units, April 30, 2012, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Detecting Fraud In Bankrupt Municipalities Using Benford's Law, Allyn H. Haynes

Scripps Senior Theses

This thesis explores if fraud or mismanagement in municipal governments can be diagnosed or detected in advance of their bankruptcies by financial statement analysis using Benford’s Law. Benford’s Law essentially states that the distribution of first digits from real world observations would not be uniform, but instead follow a trend where numbers with lower first digits (1, 2…) occur more frequently than those with higher first digits (…8,9). If a data set does not follow Benford’s distribution, it is likely that the data has been manipulated. This widespread phenomenon has been used as a tool to detect anomalies in data …

Letter From Patricia A. Thompson, Cpa, Chair, Aicpa Tax Executive Committee, To Internal Revenue Service, Re: Comments On Proposed And Temporary Regulations Under Section 162(A), 168, And 263(A) Regarding Deduction And Capitalization Of Expenditures Related To Tangible Property (Reg-168745-03 And Td 9564) And Revenue Procedures 2012-19 And 2012-20., Patricia A. Thompson, American Institute Of Certified Public Accountants. Tax Executive Committee.

Association Sections, Divisions, Boards, Teams

No abstract provided.

Organizational Ethics In Accounting: A Comparison Of Utilitarianism And Christian Deontological Principles, Katherine Y. Masten

Senior Honors Theses

Within the field of accounting, there never seems to be a lack of conflict between an individual’s morals and the ethical responsibilities an employee has to the company. This paper will demonstrate many of these ethical conflicts within the field of accounting. It will also demonstrate how strong leadership and leaders who adhere to strong values and ethical systems will positively affect the relationship between employees’ ethical values and the application of their moral values to the company. A specific ethical dilemma that arises within accounting tends to be the utilitarian conflict. Since the greater good is accomplished in this …

Fair Value Accounting: How Bad Decisions Bring Blame To Beneficial Accounting Procedures, Thomas John Ciulla

Senior Honors Theses

The Great Recession has sparked a debate amongst accounting professionals and economic analysts. There has been a concerted effort to blame fair value accounting and FAS 157 as the recession’s root cause and an attempt to challenge FASB to return to the historic cost principle. This paper examines the guidelines and procedures for mark to market as established by FASB, observes the events leading up to the recession, conditions that materialized at the start of the recession, evaluates the role fair value played in the financial crisis, and considers how fair value should be used in the future.

The Effects Of Sarbanes Oxley On Current Financial Reporting Standards, Kiersten Clark

Senior Honors Theses

Many changes have taken place over the past eight years in almost every sphere of the business world. The first topic discussed within this paper will be the origin and background of Sarbanes-Oxley, why it was necessary, and what the primary causes of such regulation were. There are many new regulations that are required of companies, primarily publicly-traded companies, which will be covered in the next section. Finally, the last discussion will involve the impact of SOX and the Public Company Accounting Oversight Board on financial reporting and the changes that have taken place within companies. The impact of this …

Crisis Response Information Networks, Shan L. Pan, Gary Pan, Dorothy E. Leidner

Research Collection School Of Accountancy

In the past two decades, organizational scholars have focused significant attention on how organizations manage crises. While most of these studies concentrate on crisis prevention, there is a growing emphasis on crisis response. Because information that is critical to crisis response may become outdated as crisis conditions change, crisis response research recognizes that the management of information flows and networks is critical to crisis response. Yet despite its importance, little is known about the various types of crisis information networks and the role of IT in enabling these information networks. Employing concepts from information flow and social network theories, this …

Guidance Frequency And Guidance Properties: The Effect Of Reputation-Building And Learning-By-Doing, Sanjeev Bhojraj, Robert Libby, Holly I. Yang

Research Collection School Of Accountancy

Different firms issue earnings guidance at dramatically different rates. We suggest that frequent guiders more likely represent a type of firm that is attempting to develop a reputation for enhanced disclosures through their guidance issuances. Furthermore, the desire to build a reputation and the opportunities to learn provided by issuing more frequent guidance should translate into frequent guiders providing higher quality guidance than occasional guiders. We examine our hypotheses in three stages. First, we find that guidance frequency is positively correlated with variables associated with reputation with capital market participants and reputation in product and labor markets. Second, our cross-sectional …

Two Papers On "How Perceptions Of Fairness And Influences Of Social Capital And Source Credibility Matter To Compensation Committees And Investors", Anne M. Wilkins

Dissertations, Theses and Capstone Projects (Full IR Collection)

This paper uses an experimental research design to examine the influences of social capital, source credibility, and fairness on the decision making process of compensation committee members when making an executive compensation decision as well as whether an expectation gap exists between the committee members and nonprofessional investors regarding the judgment. One hundred and one public company compensation committee members and ninety nine nonprofessional investors completed an executive compensation case indicating their support on a scale of 0 to 100 of revising executive incentive pay financial performance targets mid-compensation cycle.

I find outcome fairness to shareholders and management significant influences …

Detecting Fraud: Utilizing New Technology To Advance The Audit Profession, Gabriella Stanton

Honors Theses and Capstones

No abstract provided.

Checklists And Illustrative Financial Statements For Defined Contribution Pension Plans, March 31, 2012, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Checklists And Illustrative Financial Statements For Employee Health And Welfare Benefit Plans, March 31, 2012, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.