Business Commons^™

Understanding The Impact Of Financial Decisions On Financial Statements: A Pedagogical Note, Tom Arnold, Leroy Brooks, Terry D. Nixon

Finance Faculty Publications

Viable financial planning requires financial managers' understanding of the consequences of impending decisions on their company's financial performance and position. Understanding the impact of prior decisions on their financial statements also enables future decisions aimed at improving their shareholders' wealth. This note intends to contribute to developing this capacity in finance students. We provide a presentation format directly connecting financial decisions to financial statement impacts. Bridging material covered in accounting courses and a finance student's needs as a possible future manager or analyst, this classroom pedagogy supplements and reinforces the objectives of the financial planning component of a finance course.

Internal Control Components: Did Coso Get It Right?, Marshall A. Geiger, Steven M. Cooper, Edmund J. Boyle

Accounting Faculty Publications

Financial accounting frauds and the attention they bring are not new. Fortunately, neither are the accounting profession’s ongoing attempts to limit these types of fraud by encouraging strong systems of internal control. In October 1986, amid growing concerns about the extent of fraudulent financial reporting, the National Commission on Fraudulent Financial Reporting (the Treadway Commission) began an extensive study and evaluation of the integrity of the U.S. system of financial reporting. The Treadway Commission’s final report, issued in 1987, provided numerous recommendations for improving the financial reporting environment and auditing standards. In response, the Committee of Sponsoring Organizations (COSO) developed …

An Empirical Analysis Of Internal Control Weaknesses Under Sas No. 78: An Examination Of State Audit Reports, Edmund J. Boyle, Steven M. Cooper, Marshall A. Geiger

Accounting Faculty Publications

While there has been a considerable amount of research regarding internal control over the past several years, scant empirical research has examined SAS No. 78's integrated five-component depiction of internal control in a government setting. In particular, to our knowledge, no study has assessed the types or frequency of weaknesses under the SAS No. 78 framework using actual internal control system findings. In this study, we examine 32 state department and agency internal control reports to assess how well the theoretical framework captures actual system weaknesses, and to determine the relative distribution of weaknesses across components of the framework.

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