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Accounting

2012

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Full-Text Articles in Business

Accounting Education And Research As Infrastructure For A Modernizing Economy, Shyam Sunder Dec 2012

Accounting Education And Research As Infrastructure For A Modernizing Economy, Shyam Sunder

Shyam Sunder

No abstract provided.


Daring To Dream, Michelle Carreon Dec 2012

Daring To Dream, Michelle Carreon

Honors Theses

Many people are unaware of the DREAM Act and its benefits; however, many scholars agree that the DREAM Act at the federal level is potentially beneficial to those undocumented students and to the United States. These scholars have researched the various benefits of the DREAM Act, such as an increase in human capital, increase in education revenue, and increase in taxable income. The DREAM Act can potentially give students the opportunity to obtain a higher education and ultimately a job and a better life. Most likely, ignorance of the DREAM Act has obscured the benefits it provides. People are more …


The Effect Of Ifrs On The Financial Ratios Of Canadian Public Mining Companies., Heath Aaron Mcconnell Dec 2012

The Effect Of Ifrs On The Financial Ratios Of Canadian Public Mining Companies., Heath Aaron Mcconnell

Undergraduate Honors Theses

The objective of this study is to add to the body of research concerning International Financial Reporting Standards (IFRS). To accomplish this objective, it will examine whether Canada’s adoption of IFRS, which replaced Canadian Generally Accepted Accounting Principles (GAAP), appears to affect the reported financial performance of Canadian public mining companies. Financial information for 2010 from the audited financial statements, as stated under IFRS and Canadian GAAP, were used to compute selected financial ratios. These financial ratios were tested to determine if statistically significant differences in their dispersion and central tendency resulted from adopting IFRS. It was found that no …


Causes And Treatment Of Foreclosure: A Review Of The Obama Administration's Home Affordable Modification Program., Savannah Perkins Dec 2012

Causes And Treatment Of Foreclosure: A Review Of The Obama Administration's Home Affordable Modification Program., Savannah Perkins

Undergraduate Honors Theses

After the recent housing bubble burst, foreclosures ran rampant across the United States. Focused concentrations occurred in Florida, California, Nevada, Utah, and other states. Despite government intervention through many foreclosure mitigation plans, the housing market is still incredibly volatile today. With many plans proving ineffective, the Obama Administration has its hopes set on the Making Home Affordable program (MHA), which is broken down into the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP). This study seeks to evaluate the effectiveness of the Home Affordable Modification Program on overall and individual mortgage servicer levels by assessing changes …


Farmers Bank - Smiths Grove, Kentucky (Mss 441), Manuscripts & Folklife Archives Dec 2012

Farmers Bank - Smiths Grove, Kentucky (Mss 441), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscripts Collection 441. Letter press book of Farmers Bank, Smiths Grove, Kentucky, recording certificates of protest. Includes loose certificates found in the letter book.


Cost Accounting Applied To Farming In Southwest Michigan, Toni Fisher Dec 2012

Cost Accounting Applied To Farming In Southwest Michigan, Toni Fisher

Honors Theses

The purpose of this study is to discuss how cost accounting is applied to the farming process. Specifically, this study evaluates and defines costs incurred within the farming industry where products are produced and sold after being generated from raw materials. Successful farmers must know the costs of raw materials acquired to produce cash corps.

While there are many types of crops farmed in southwest Michigan, this study specializes in cash crops, specifically corn and soybean production. Cost accounting methods applicable to the farming industry are introduced, discussed and applied in this study. A spreadsheet is presented which displays typical …


Economic Effects Of A Lifo Reserve Rollover, Michael Eubanks Dec 2012

Economic Effects Of A Lifo Reserve Rollover, Michael Eubanks

Honors Theses

The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together toward the convergence of accounting standards to provide a single set of high quality global standards. Companies who are currently in compliance with Generally Accepted Accounting Principles (GAAP) will need to make necessary adjustments as those standards converge with International Standards. GAAP uses a rules based approach while the IFRS is more principle based. These contrasting approaches create differences that need to be reconciled at various levels of the two standards’ applications. Perhaps the most telling example, under AIS 2 Inventories, the …


An Analysis Of Consumer Response To Businesses’ Expression Of Beliefs, Justin P. Boyter Dec 2012

An Analysis Of Consumer Response To Businesses’ Expression Of Beliefs, Justin P. Boyter

Chancellor’s Honors Program Projects

No abstract provided.


Nol Poison Pills: Using Corporate Law For Tax Purposes, Sarah J. Webber, Karie Davis-Nozemack Dec 2012

Nol Poison Pills: Using Corporate Law For Tax Purposes, Sarah J. Webber, Karie Davis-Nozemack

Accounting Faculty Publications

Hundreds of thousands of corporations report net operating loss (NOL) carryovers every year.1 Corporations, with the benefit of NOL rules, may turn disappointing losses into favorable tax results. During economic recovery, corporations are in better position to fully utilize the benefits of NOLs generated in prior years. NOL usage is not without peril, however. Corporations should carefully monitor corporate ownership changes to ensure that NOLs are not lost to the NOL trafficking rules. Under the NOL trafficking rules, excessive shareholder turnover triggers substantial NOL limitations. Unfortunately, corporations are not in control of their shareholder turnover, and therefore not in complete …


Are All Management Earnings Forecasts Created Equal? Expectations Management Versus Communication, Yongtae Kim, Myung Seok Park Dec 2012

Are All Management Earnings Forecasts Created Equal? Expectations Management Versus Communication, Yongtae Kim, Myung Seok Park

Accounting

Recent studies associate management earnings forecasts (MEFs) with expectations management. These studies, however, neither provide evidence on the extent and scope of expectations management through MEFs nor consider alternative incentives for issuing MEFs. Consequently, existing evidence does not help regulators assess whether MEFs effectively facilitate communication with investors. We investigate to what extent managers exploit their earnings forecasts as a tool of expectations management or as a communication device. By examining relations among MEFs, analysts' forecasts, and actual earnings, we classify MEFs into three incentive categories: (1) expectations management, (2) communication, and (3) other incentives. We find that a significant …


Banks' Survival During The Financial Crisis: The Role Of Regulatory Reporting Quality, Jeffrey Ng, Tjomme O. Rusticus Dec 2012

Banks' Survival During The Financial Crisis: The Role Of Regulatory Reporting Quality, Jeffrey Ng, Tjomme O. Rusticus

Research Collection School Of Accountancy

In this paper, we investigate the effect of bank transparency before the crisis on bank stability during the financial crisis that erupted in 2008. Using a large sample of private and public commercial banks in the United States, we find that transparency enhances stability. We use two measures of transparency. We develop a new measure of financial reporting transparency based on loan loss provision estimation errors. We corroborate our findings using a second measure based on the incidence of accounting restatements. We show that lower transparency before the crisis is associated with higher non-performing loans and lower profitability at the …


Muddy Cloud With Silver Lining? Bring It On!, Themin Suwardy Dec 2012

Muddy Cloud With Silver Lining? Bring It On!, Themin Suwardy

Research Collection School Of Accountancy

No abstract provided.


Nonprofit Funding Agencies’ Review Of Grant Recipients, Siobain Mcilvain Nov 2012

Nonprofit Funding Agencies’ Review Of Grant Recipients, Siobain Mcilvain

Honors Theses - Providence Campus

Nonprofits need to be just as responsible as public corporations. Nonprofit funding agencies have the responsibility for evaluating the organizations they fund to make sure that they are operating with high integrity, maintaining strong internal controls, remaining financially stable, and overall being good stewards of the funds received. This paper will explain the criteria that a funding agency should follow in order to affect this process, as well as how a recipient nonprofit will benefit from following the criteria.


Proposed Revised Interpretation, Aicpa Professional Ethics Division, Subordination Of Judgment By A Member, November 16, 2012, Comments Are Requested By January 16, 2013; Exposure Draft (American Institute Of Certified Public Accountants), 2012, November 16, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee Nov 2012

Proposed Revised Interpretation, Aicpa Professional Ethics Division, Subordination Of Judgment By A Member, November 16, 2012, Comments Are Requested By January 16, 2013; Exposure Draft (American Institute Of Certified Public Accountants), 2012, November 16, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.


Comment Letters On Proposed Revised Interpretation, Aicpa Professional Ethics Division, Subordination Of Judgment By A Member, November 16, 201, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee Nov 2012

Comment Letters On Proposed Revised Interpretation, Aicpa Professional Ethics Division, Subordination Of Judgment By A Member, November 16, 201, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.


Comment Letters On Proposed Statements On Standards For Accounting And Review Services, Review Of Financial Statements, Review Of Financial Statements—Special Considerations, November 15, 2012, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Nov 2012

Comment Letters On Proposed Statements On Standards For Accounting And Review Services, Review Of Financial Statements, Review Of Financial Statements—Special Considerations, November 15, 2012, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.


Proposed Statements On Standards For Accounting And Review Services, Review Of Financial Statements, Review Of Financial Statements—Special Considerations, November 15, 2012, Comments Are Requested By April 26, 2013; Exposure Draft (American Institute Of Certified Public Accountants), 2012, November 15, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Nov 2012

Proposed Statements On Standards For Accounting And Review Services, Review Of Financial Statements, Review Of Financial Statements—Special Considerations, November 15, 2012, Comments Are Requested By April 26, 2013; Exposure Draft (American Institute Of Certified Public Accountants), 2012, November 15, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.


Fast Track To Direct Cash Flow Reporting, Paul Miller, Paul Bahnson Nov 2012

Fast Track To Direct Cash Flow Reporting, Paul Miller, Paul Bahnson

Paul R. Bahnson

Even though good reasons abound for using the direct method of reporting operating cash flow, almost all managers choose the indirect method. We, and others whose opinions we respect, consider the direct method to be far superior to the indirect because it generates information that's more useful to the capital markets for assessing the amounts, timing, and uncertainty of a company's future cash flows. Contrary to today's conventional wisdom, the direct method isn't hard to apply. In fact, with the system modifications described in this article, it will be easy to provide the information financial statement users want. After applying …


Perfect Storm Prompts Changes In Pension Accounting, Paul Miller, Paul Bahnson Nov 2012

Perfect Storm Prompts Changes In Pension Accounting, Paul Miller, Paul Bahnson

Paul R. Bahnson

Over the first half of the decade, pension and other postretirement benefit plans were hit hard by a perfect storm of economic forces. Investment returns were irregular and often less than expected. Falling interest rates caused employers' obligations to soar. And many old-line industries experienced a cash crunch that encouraged management to offer increased pension benefits in lieu of higher wages. A shift in demographics has resulted in far fewer younger workers and many more who have retired or are about to do so.


Noncontrolling Interest: Much More Than A Name Change, Paul Bahnson, Brian Mcallister, Paul Miller Nov 2012

Noncontrolling Interest: Much More Than A Name Change, Paul Bahnson, Brian Mcallister, Paul Miller

Paul R. Bahnson

In December 2007, FASB adopted two new business combination standards: Statement no. 141(R), Business Combinations, and Statement no. 160, Noncontrolling Interests in Consolidated Financial Statements. Both culminated years of work directed at improving reporting for consolidated entities. This article summarizes the most important changes created by Statement no. 160, which is effective for fiscal years beginning after Dec 15, 2008. The most visible innovation in Statement no. 160 is the name change from "minority interest" to "noncontrolling interest." A major change affecting income reporting concerns the treatment of the earnings related to midyear acquisitions. Statement no. 160 will require new …


Quality Financial Reporting: Why You Need It And How To Implement It, Paul Miller, Paul Bahnson Nov 2012

Quality Financial Reporting: Why You Need It And How To Implement It, Paul Miller, Paul Bahnson

Paul R. Bahnson

Many of today's corporate managers use a financial reporting strategy that is irrational, charge the authors of this article. Instead, they offer a new strategy—along with a useful evaluation checklist, and advice for implementation.


Refining Fair Value Measurement, Paul Miller, Paul Bahnson Nov 2012

Refining Fair Value Measurement, Paul Miller, Paul Bahnson

Paul R. Bahnson

Financial Accounting Standards Board (FASB) issued a standard in fall 2006 with the understated title Fair Value Measurements. On one hand, FASB Statement no. 157 appears to shake the foundation of historical cost measurement. On the other, it appears innocuous because it does not compel greater use of fair values. CPA's should quickly acquaint themselves with the new rule, since it becomes effective for annual statements for fiscal years beginning after Nov 15, 2007, and for interim reports prepared in that initial fiscal year.


The Top 10 Reasons To Fix The Fasb’S Conceptual Framework, Paul Miller, Paul Bahnson Nov 2012

The Top 10 Reasons To Fix The Fasb’S Conceptual Framework, Paul Miller, Paul Bahnson

Paul R. Bahnson

The Financial Accounting Standards Board (FASB) produced most of its Conceptual Framework (CFW) more than 20 years ago in a project that began in the 1970s. It achieved notable positive results, yet it isn't without flaws. These blemishes originate from several sources, including political pressures. But time has yielded a new environment that enables the FASB to fix the shortcomings.


When "Aha Moments" Make All The Difference, Nancy Napier, Paul Bahnson, Roy Glen, Cheryl Maille, Kirk Smith, Harry White Nov 2012

When "Aha Moments" Make All The Difference, Nancy Napier, Paul Bahnson, Roy Glen, Cheryl Maille, Kirk Smith, Harry White

Paul R. Bahnson

What makes a seasoned group of faculty members sit up straight and learn something remarkable? It happens when the members go through a process to develop a new product and realize that what (should) happen is not what does happen and that the difference comes from the "aha moments" along the way. In this article, the authors track the development of a new venture start up—of a young entrepreneurial business school, lacking regional or national image, and the process faculty members experienced in creating a highly differentiated potentially brand-creating new executive MBA program. Specifically, they reflect on the design and …


A Penny For Your Thoughts: Sizing Up Manipulative Eps Rounding, Paul Miller, Greg Martin, Paul Bahnson Nov 2012

A Penny For Your Thoughts: Sizing Up Manipulative Eps Rounding, Paul Miller, Greg Martin, Paul Bahnson

Paul R. Bahnson

For as long as public companies have been required to report earnings per share (EPS), there probably have been misguided managers who try to nudge it higher.

We’ve written this article to unveil a method of manipulating EPS that, near as we can tell, hasn’t yet been described in print. Because any attempt to manipulate EPS creates uncertainty and uncomfortable risk for investors—which, in turn, could create capital market inefficiencies and produce discounted stock prices—we want to expose this inappropriate and unproductive gamesmanship and then help eliminate it.

Our specific concern is that a troubling number of managers, and perhaps …


Continuing The Normative Dialog: Illuminating The Asset/Liability Theory, Paul Miller, Paul Bahnson Nov 2012

Continuing The Normative Dialog: Illuminating The Asset/Liability Theory, Paul Miller, Paul Bahnson

Paul R. Bahnson

This paper responds to the call in Dichev (2008) for rekindling the public discussion of normative accounting theories and analyses. Our goal is to enable and encourage members of the accounting academy to participate productively in dialogs with policy makers and to bring normative theory and analysis into their classrooms to help prepare students for more productive careers as practitioners or educators. Toward that end, we begin by explaining our position on the functional role for normativism. Next we offer up five guidelines to be applied in constructing and analyzing normative accounting theories. The guidelines are then used to frame …


Feasibility Analysis Of A Microbrewery, Dylan Warren Snyder Nov 2012

Feasibility Analysis Of A Microbrewery, Dylan Warren Snyder

Agribusiness

No abstract provided.


Does Compensation Structure Alleviate Personal Ceo Risks?, Richard Lord, Yoshie Saito Nov 2012

Does Compensation Structure Alleviate Personal Ceo Risks?, Richard Lord, Yoshie Saito

Department of Accounting and Finance Faculty Scholarship and Creative Works

Are CEO compensation packages designed to alleviate some of the personal risks that they bear? We employ a unified framework to test the relationship between the four major components of executive pay; salary, bonuses, option grants and restricted stock grants, and four factors that increase CEOs' personal risks; the real value of their pay, the riskiness of firm equity, the value of their equity portfolios, and the delta of these equity holdings. We show that personal risks that CEOs face have significant effects on the design of their compensation contracts. Our results suggest that the portion of salary compensation decreases …


Making Sense Of Other Comprehensive Income, Pearl Hock Neo Tan Nov 2012

Making Sense Of Other Comprehensive Income, Pearl Hock Neo Tan

Research Collection School Of Accountancy

SMU Associate Professor of Accounting (Practice) Pearl Tan commented on how other comprehensive income (OCI) is different from net income, and how SME managers and stakeholders may use the information on other comprehensive income to evaluate the business. She highlighted that it is important for owners and managers of SMEs to understand the components of OCI and commented on how it will affect reported equity and net assets. Stakeholders of an SME may also use the information on OCI to assess risks and to estimate future cash flows from the reported unrealised gains or losses.


Building The Cfo Function: Roles And Responsibilities, Andrew Lee Nov 2012

Building The Cfo Function: Roles And Responsibilities, Andrew Lee

Research Collection School Of Accountancy

No abstract provided.