Business Commons^™

Law Making In The Guise Of Procedures: Placing Hurdles To The Right Of Appeal To The National Labor Relations Commission, Emmanuel O. Sales

DLSU Business & Economics Review

It is a legal given that the power to make laws or new norms lies with Congress and this power, granted by the Constitution, cannot be shared with or should not be encroached upon by another branch of government or an instrumentality of a branch. Rule making to implement the law or the promulgation of procedures to establish the process of enforcing rights is not always done subordinate to or in accordance with law. This study posits that the 2005 Rules of Procedure of the National Labor Relations Commission, specifically on the requirements for taking an appeal, is a case …

Innovation Process And Performance In Small- To Medium-Sized Firms: A Conceptual Framework, Edgardo S. Bolinao

DLSU Business & Economics Review

This study maps out the innovation process in Small and Medium Enterprises (SMEs) that can fundamentally affect business performance. The development of the conceptual framework can be used to encourage and enhance successful innovation management for SMEs. Overall, effective innovation is based on managing this process as a whole and on building up capacity and competency at each stage in the innovation. The framework put forth in this study is being proposed to be used as template for the development of a management development program for SMEs’ owner-managers and as a practical tool for diagnosing SMEs’ support systems.

What Is “The Learning Filipino Firm”?, Raymund B. Habaradas

DLSU Business & Economics Review

“The learning Filipino firm” can be classified into three types, namely the reactive firm, which is a reluctant learner; the adaptive firm, which is an eager learner; and the generative firm, which is a dynamic learner. This typology is based on the hypothesis that a firm’s learning style and its innovative capability is influenced by its organizational design. Among the key dimensions that must be considered are as follows: (a) organizational strategy, (b) organizational structure, and (c) organizational culture. These dimensions are closely intertwined, and, therefore, collectively influence a firm’s ability to constantly renew itself.

Cpa Client Tax Letter, July/August/September 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Forensic Auditing: An Essential Tool In The Fights Against Fraud And Corruption In Kosovo, Nicholas M. Zacchea

Business: Faculty Presentations

INTRODUCTION: IT IS AN HONOR FOR ME TO BE INVITED HERE TODAY AND TO HAVE AN OPPORTUNITY TO PARTICIPATE IN DISCUSSING THIS VERY IMPORTANT TOPIC OF FORENSIC AUDITING AND ITS ROLE IN COMBATING CORRUPTION.

CORRUPTION IS SOMETHING THAT TOUCHES THE LIVES OF EVERY ONE OF US. IT HAS A DAMAGING IMPACT ON THE WAY IN WHICH WE LIVE, NOT ONLY HERE IN KOSOVO BUT IN EVERY OTHER COUNTRY IN THE WORLD.

I HOPE TO HELP YOU BETTER COMPREHEND THE INSIDIOUS NATURE OF CORRUPTION AND THE DEVASTATING IMPACT IT HAS ON EVERYONE’S LIVES.

Cpa Client Bulletin, June 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

The Predictive Content Of Aggregate Analyst Recommendations, John S. Howe, Emre Unlu, Xuemin (Sterling) Yan

Department of Finance: Faculty Publications

Using more than 350,000 sell-side analyst recommendations from January 1994 to August 2006, this paper examines the predictive content of aggregate analyst recommendations. We find that changes in aggregate analyst recommendations forecast future market excess returns after controlling for macroeconomic variables that have been shown to influence market returns. Similarly, changes in industry-aggregated analyst recommendations predict future industry returns. Changes in aggregate analyst recommendations also predict one-quarter-ahead aggregate earnings growth. Overall, our results suggest that analyst recommendations contain market- and industry-level information about future returns and earnings.

Effects Of Country-Level Legal, Extra-Legal And Political Institutions On Auditing: A Cross-Country Analysis Of The Auditor Specialization Premium, Bin Sirinidhi, Chee Yeow Lim, Mahmud Hossain

Research Collection School Of Accountancy

In this cross-country study of the specialist auditor premium, which spans the US and 12 other countries, we provide evidence that country-level institutional strength increases average audit fees, but reduces the incremental demand for specialist auditors. This finding supports the hypothesis that strong institutions and the demand for specialist knowledge act as substitutes in providing the requisite assurance of financial statements.

Proposed Statement On Auditing Standards, Quality Control For An Audit Of Financial Statements, June 1, 2009, Comments Are Requested By August 31, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, June 1, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Quality Control Standards, A Firm’S System Of Quality Control (Redrafted), June 1, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Statement On Quality Control Standards, A Firm’S System Of Quality Control (Redrafted), June 1, 2009, Comments Are Requested By August 31, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, June 1, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, Quality Control For An Audit Of Financial Statements, June 1, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Mentoring The Next Generation, Stephen Scarpati

WCBT Faculty Publications

The article discusses the highlights of the 2009 Accounting Educators Conference held in New York State. Information about the certified public accountant (CPA) examination, accountancy reform law and accounting education requirements are provided by Dan Dustin of the New York State Board for Public Accountancy. Ebony Thomas of Ernst & Young and Lisa Brandt of UHY Advisors NY Inc. discussed salaries for new accountants and related recruiting issues. Some pieces of advice are offered to CPA who are counseling accounting students.

The Many Faces Of An Income Statement, Themin Suwardy, Teng Aun Khoo

Research Collection School Of Accountancy

When a company an- have no problem understandingnounces its financial the "nature" of this cost. However,results, most analysts if we were to allocate staff costs byand media coverage function, one would have to classitendto focus on its in- fy staff costs into all the functionscome statement, usually with of the entity, eg the wages of an emyear-on-yearor other periodic com- ployee working in the marketing deparisonsof performance.

Audit Committees, Boards Of Directors, And Remediation Of Material Weaknesses In Internal Control, Beng Wee Goh

Research Collection School Of Accountancy

The Sarbanes-Oxley Act (SOX) was passed in 2002 in response to a series ofaccounting improprieties at well-known companies such as Enron and WorldCom.One important aspect of SOX is the internal control requirements. SOX section302 requires that management evaluate the effectiveness of disclosure and controlprocedures, report results of the evaluation, and indicate any “significant changes”in internal controls since the last 10-K or 10-Q report (Securities and ExchangeCommission [SEC] 2002). In addition, SOX section 404 requires that manage-ment’s assessment of the effectiveness of internal control over financial reportingand auditors’ attestation on management’s assessment be included in firms’ 10-Kreports (SEC 2003a). The heightened …

The Long-Term Effects Of Cross-Listing, Investor Recognition, And Ownership Structure On Valuation, Michael R. King, Dan Segal

Research Collection School Of Accountancy

We show that investor recognition and bonding associated with a U.S. cross-listing are distinct effects using a sample of Canadian firms. In contrast to the post-listing decline documented in the literature, we find that cross-listed firms with a single class of shares enjoy a permanent increase in valuation if they attract and maintain investor recognition over time. Valuations of firms that fail to widen their U.S. shareholder base return to pre-listing levels within two years. Cross-listed firms with dual-class shares exhibit a permanent increase in valuation regardless of the level of U.S. investor holdings, consistent with firm-level bonding.

Proposed Statement On Auditing Standards, External Confirmations, May 28, 2009, Comments Are Requested By August 31, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, May 28, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, External Confirmations, May 28, 2009, Comments Are Requested By August 31, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Analysis Of The Lifo Inventory Valuation Method During The Onset Of Ifrs, Joseph Louis Romeo

Honors Scholar Theses

I propose that the Last in, First out (LIFO) inventory valuation method needs to be reevaluated. I will evaluate the impact of the LIFO method on earnings of publically traded companies with a LIFO reserve over the past 10 years.

I will begin my proposal with the history of how the LIFO method became an acceptable valuation method and discuss the significance of LIFO within the accounting profession Next I will provide a description of LIFO, the First in, First out (FIFO), and the weighted average inventory valuation methods and explore the differences among each. More specifically, I will explore …

Price Multiples As Indicators Of Stock Price Movement: Evidence From The 21st Century, Jason Zamichiei

Honors Scholar Theses

This paper examines the use of price multiples to predict stock returns. The price to earnings, price to sales, and price to book value multiples are regressed against annual stock returns to determine if a relation between the magnitude of the multiples and returns exists. The results indicate that there are relations between low price to earnings and price to sales multiples and positive returns. I find no evidence that the price to book value multiple can be used to develop a stock buying strategy.

Debate Over Fair Value Accounting: Should We Allow Politics To Take An Active Role In Setting Accounting Standards Or Should We Trust That The Sec Knows Best?, Melina Botcheva

Honors Scholar Theses

In light of the recent economic downfall, there has been significant media coverage on the topic of fair value accounting. There are many critics of the accounting rule, who place blame on it for the destruction of billions of dollars in capital between financial institutions. Other commentators, however, see the rule as necessary and applaud its ability to bring the turmoil in the economy into the spotlight promptly so that it could be addressed effectively. This paper will begin by conducting a study of fair-value accounting from its inception in previous standards and then follow it through to Statement No. …

Re: Notice 2009-17, Information Reporting Of Customer’S Basis In Securities Transactions, Alan R. Einhorn, American Institute Of Certified Public Accountants (Aicpa)

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Cpa Client Bulletin, May 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Is Something Missing From Your Company's Satisfaction Package?, Deborah S. Archambeault, Richard Burgess, Stan Davis

Accounting Faculty Publications

Conventional wisdom suggests that salary, benefits, and other monetary factors are important aspects of keeping employees satisfied. But which factors have the biggest impact on overall satisfaction? While companies focus on the monetary factors, there are other components of the overall “satisfaction package,” that are just as important, yet often overlooked.

It comes as no surprise that satisfied employees are important to the success of any organization. In short, higher satisfaction increases productivity, improves service levels, and positively impacts a company’s bottom line. While keeping employees satisfied should be an important goal for any organization, a recent job satisfaction survey …

The Nomination And Motivations Of Irish Non-Executive Directors Of Listed Companies, Anna Egan, Rebecca Maughan, Joseph Coughlan

Conference papers

This paper reports the preliminary findings of an empirical investigation into the process of appointing non-executive directors and their motivations behind the adoption of the position. While research into the board of directors has been extensive, little deliberation has been given to the motives of non-executives who choose to sit on boards (Roberts, 2002). Given that the board of directors has been charged with much more responsibility in recent years and is being held to a higher level of accountability than would historically be expected (Donnelly and Kelly, 2005), the choice of non-executives to continue to take up roles on …

An Elusive Search For The Holy Grail Via Japan’S Lost Decade, Knowledge@Smu

Knowledge@SMU

Why did the Wall Street crash of October 1929 cause the global economy to decline and stagnate over a long time? Till today, macroeconomists are still trying to answer what Ben Bernanke describes as the “Holy Grail” – an enlightened understanding of what went wrong. Richard Koo, author of “The Holy Grail of Macroeconomics: Lessons from Japan’s Great Recession”, attempts an explanation with the “balance sheet recession” concept, based on his observations in Japan, where companies try to pay down their debt on time, if not earlier.

The Impact Of The Sarbanes-Oxley Act On Regional Firms, Hyejoon Yoon

Renée Crown University Honors Thesis Projects - All

There have been major audit failures involving the largest companies such as Enron, WorldCom and Tyco. As a result of these audit failures, the Sarbanes-Oxley Act was passed in 2002 to establish enhanced standards for oversight of accounting professionals including U.S. public company boards, management, and public accounting firms. After the Sarbanes-Oxley Act was passed, there has been increased attention on major public accounting firms regarding audit quality, audit pricing, independence, risk assessment, and legal liabilities. In order to maintain the independence, three of the four major accounting firms sold their consulting practice, even though consulting practices are again growing …

The Effectiveness Of The Sarbanes-Oxley Act In Constraining Earnings Management, Liwin Troy Lee

Renée Crown University Honors Thesis Projects - All

Widespread concern about earnings management, the management of financial information to mislead investors, was one of the key factors leading to the passage of the Sarbanes-Oxley Act of 2002 (SOX). In this study, I investigate whether SOX is effective in limiting earnings management. Earnings management is a concern because misrepresentation of a company’s financial position and the results of its performance can mislead investors into making poor investment decisions. This study examines earnings changes before and after the passage of SOX to see whether small positive earnings changes were less likely in the post-SOX period, supporting the effectiveness of SOX …

Disclosure Of Management Guidance In Conference Calls: Materiality, Determinants And Consequences, Benjamin Lansford, Jimmy Kiat Bee Lee, Jennifer W. Tucker

Research Collection School Of Accountancy

The SEC advises firms to release all material information in their earnings announcement press release before their corresponding conference call. Until May 2009, the NYSE went further by explicitly prohibiting the disclosure of new material information in a conference call. However, we document that the S&P 500 firms, including those that are NYSE-listed, disclose a non-trivial amount of management guidance exclusively in their conference calls. Firms in challenging forecasting environments rely more on the conference call, probably because the call enables managers to “flesh out” the guidance. In contrast, firms with relatively low investor visibility and high litigation risk rely …

Paul M. Klekner (B), Roger R. Schnorbus

Robins School of Business White Paper Series, 1980-2022

This is a fictitious case study, including the name of the restaurant and the people involved.

Paul Klekner graduated first in his class from the Culinary Institute of America (CIA) in 1998; his fellow students named him the chef most likely to succeed in the future. After graduation, he and his wife, Sarah, moved back to his home in Richmond, Virginia where he was employed as a chef at several restaurants including Bottega and Old Original Bookbinders. In 2003, he decided to open his own restaurant, Rogerios, in the Tobacco Row section of Richmond. With an inheritance of $300,000 he …