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Full-Text Articles in Business
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Faculty Publications
If the origin of a claim that generated legal fees is personal, the fees are not deductible. Possible favorable treatment for legal fees includes either above-the-line deductions or adjustments to basis or selling price in a property transaction. Some taxpayers have claimed described legal fees in such a way that they directly reduce the related income.
When Management Override Negates Common Sense, Kelly Noe, Violet Rogers
When Management Override Negates Common Sense, Kelly Noe, Violet Rogers
Faculty Publications
Write OK per big boss across the invoice and everything is fine! Or is it? This paper analyzes the human factor link related to the Debra Valice Case. The human factor is the weakest link of any internal control system. Understanding the human factors that cause people to not follow the rules, is key to strengthening this link. This research will utilize the human factors adapted from the Independence Education Program to analyze the DebraValice Case. Valice was responsible for ensuring a secure internal control system. The Chief Executive Officer was able to manipulate this system and unauthorized payments were …
Engagement Risk: Perceptions And Strategies From Audit Partners, Jack R. Ethridge, Treba Marsh, Bonnie Revelt
Engagement Risk: Perceptions And Strategies From Audit Partners, Jack R. Ethridge, Treba Marsh, Bonnie Revelt
Faculty Publications
The audit function creates several important relationships among the various parties. One of the significant and potentially problematic relationships is between the audit firm and the audit client. The decision by the audit firm to accept or retain a client is crucial because of the potential risk of being associated with certain clients. The potential damage can range from financial loss and/or loss of prestige to the ultimate demise of the audit firm. Engagement risk is considered to be composed of three components: entity’s business risk, audit risk, and auditor’s business risk. This research questioned whether audit firms have significantly …
The Global Significance Of Locus Of Control In Ethical Decision Making: A Multi-Country Examination Of University Students, Aileen Smith, Evelyn C. Hume, Ray Zimmermann, Alan Davis
The Global Significance Of Locus Of Control In Ethical Decision Making: A Multi-Country Examination Of University Students, Aileen Smith, Evelyn C. Hume, Ray Zimmermann, Alan Davis
Faculty Publications
Locus of control (LOC) is a personality variable shown to possess potential explanatory power in the study of ethical decision making. There have been, however, diverse results reported in the literature. Whenever differences on this variable are indicated by the research, individuals with an Internal LOC report the more ethical responses. This study extends the examination of the global relevance of the LOC variable to ethical decision making of university students in thirteen universities from eight countries. Using an instrument designed to elicit responses to questionable academic behaviors, this research analyzes ethical responses of university students (n=2,420) to look for …
Was The Accounting Profession Really That Bad?, Elizabeth K. Jenkins, W. Donnelly, T. Black
Was The Accounting Profession Really That Bad?, Elizabeth K. Jenkins, W. Donnelly, T. Black
Faculty Publications
To gain insight into the extent of malpractice in the State of California prior to the Passage of Sarbanes-Oxley, we examined the nature and magnitude of complains filed with the California Board of Accountancy (CBA) against both licensed and unlicensed accountants during the fiscal years 2000, 2001, and 2002. The CBA currently licenses and regulates over 73,000 licenses, with 1,431 complaints filed during the period reviewed. Disciplinary actions were taken against 283 different licensees for the three fiscal years reviewed. SEC issues were involved in 19 cases, theft or embezzlement 46 cases, public accounting malpractice 146 cases, improper retention of …
Do Bulls And Bears Listen To Whispers?, Janis K. Zaima, M. A. Harjoto
Do Bulls And Bears Listen To Whispers?, Janis K. Zaima, M. A. Harjoto
Faculty Publications
A post-earnings announcement drift associated with the market reaction to analyst forecasts errors remains a puzzle. This study suggests that whispers help to explain part of the puzzle. The study examines the market reaction to whispers and analysts in bull and bear markets, and finds that investors listen to whispers in the bull market and whispers help explain the post-announcement drift. In a bear market, reaction to whispers is significantly positive prior to announcement despite a down market, indicating optimism by investors who follow whispers. However, in the bear market, both whispers and analysts contribute to the post-announcement drift.