Business Commons^™

Evidence On The Effectiveness Of Using Tax Credits To Promote Energy Conservation, Kathryn A.S. Lancaster, Michael R. Kinney, Jack Robison

Accounting

The country seems to have quickly embarked on a new energy crisis. "From Manhattan to Montana, worries are mounting that skyrocketing power prices and rolling blackouts will soon spread from their epicenter in California.... Concern about the power picture extends to the top levels of the Bush Administration as it attempts to hammer out a new energy policy." As politicians search for possible solutions to the current crisis, incentives for energy conservation are often mentioned as a possible remedy. A recent Congressional Research Service Issue Brief describes several potential bills. Two create a refundable tax credit for up to 50% …

Ua62/4 The Western Worksheet, Wku Accounting

WKU Archives Records

Newsletter created by WKU Accounting and the Eta Omicron chapter of Beta Alpha Psi.

White And Roach Store - Greensburg, Kentucky (Mss 33), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscript Collection 33. Account books, ledgers, and journal recording sales made from 1854 to 1867 by the White and Roach general merchandise store in Greensburg, Kentucky.

Hines, James Davis, 1838-1911 (Mss 34), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscript Collection 34. Account books, 1858-1866, of a merchant at Bowling Green, Kentucky. One, undated, with author uncertain, contains records of goods bartered; two dated ones contain accounts of work done by employees as well as store accounts.

Process Mapping And Scripting In The Accounting Information Systems (Ais) Curriculum, Roberta Ann Jones, Kathryn A.S. Lancaster

Accounting

The ability to understand, document, and suggest improvements for a business process is an important skill for an accounting student for the following reasons: (1) efficient business processes give businesses a competitive advantage; (2) business process analysis provides auditors with an assessment of business risk; and (3) successful enterprise resource planning implementation depends on understanding and improving existing business processes. It is suggested that students be introduced to process mapping and scripting in an accounting information systems (AIS) course to facilitate their understanding of business processes and help them visualize the interaction between functional areas. The specifics of process mapping …

Sys Trust Liability, Daniel D. Selby

Accounting Faculty Publications

The Certified Public Accountant has always been subject to scrutiny by the legal system to ensure that the interest of the public is best served. In fact, over the last thirty years, the number of malpractice suits against accountants has increased. The increase in accountant malpractice litigation is a result of the public's perception that the CPA guarantees the accuracy of financial statements, and that the CPA has sizeable financial resources, along with malpractice insurance. Prior to the Elliott Report in 1997, CPA liability was limited to fraud, breach of contract, and negligence in the traditional areas of audit, accounting, …

Stewardship And The Balanced Scorecard, Kathryn Lancaster

Accounting

No abstract provided.

An Investigation Of Goodwill Accounting Policy Choice Within A Specific Knowledge Framework, Pearl H. N. Tan

Research Collection School Of Accountancy

This study, using Singapore data, investigates the relationship between Chief Executive Officers' (CEO) specific knowledge and the accounting method choice on capitalisation of goodwill. International Accounting Standard 22 (1987), applicable in Singapore in 1996, the year of the study, permits a choice between capitalisation with subsequent amortisation and immediate write-off of goodwill to reserves. This study proposes a positive relationship between human capital specificity of CEOs and the recognition of purchased goodwill on the balance sheet. Specific knowledge is unique to firms and is acquired through experience. Given that specialised assets arise from firm-specific circumstances, firm-specific knowledge potentially explains the …

Internet Reporting: Availability Of Financial And Environmental Information For The Environmentally Responsible Investor, Kathryn Lancaster, Carolyn Strand

Accounting

No abstract provided.

Letter From Jeff Pieper, Manager, Subscription Administration, Aicpa Re: Discontinuance Of Subscription Service For Printed Content Of Aicpa Meetings., Jeff Pieper

American Institute of Accountants

No abstract provided.

Top 10 Audit Deficiencies, Mark S. Beasley, Joseph V. Carcello, Dana R. Hermanson

Faculty and Research Publications

The article focuses on financial statement fraud based on cases wherein the U.S. Securities and Exchange Commission sanctioned auditors for their association with fraudulent financial statements. All of the cases involved public companies, most of which engaged ill fraudulent financial reporting. Only a few engaged in misappropriation of assets or defalcation. The most common problem, alleged in 90% of the cases, was the auditor's failure to gather sufficient evidence. In some instances, this failure was pervasive throughout the engagement while in other instances the allegations were more specific. For example, many of the cases involved inadequate evidence in the areas …

Ua64/2 The Western Worksheet, Wku Accounting

WKU Archives Records

Newsletter created by WKU Accounting and the Eta Omicron chapter of Beta Alpha Psi.

Developing The Knowledge Base Of New Tax Professionals, Donald Samuelson, Paul G. Schloemer

Business Administration Faculty Publications

For years, the research of cognitive scientists has produced practical insights into the learning process, many of which can be applied to accounting. Specifically, accounting researchers have found a strong connection between knowledge and performance: A practitioner’s level of knowledge, whether the result of an advanced degree, CPE, or years of specialized experience, is a good predictor of performance in accounting tasks. Thus, methods that enhance knowledge can increase performance, benefiting both practitioners and their firms.

This article presents the results of a study investigating the means by which tax practitioners most effectively acquire knowledge. The characteristics of those practitioners …

2001-2002 Operating Budget, Morehead State University. Budget & Financial Planning Office.

Morehead State University Operating Budgets Archive

2001-2002 Operating Budget of Morehead State University.

Investment Performance Comparison Between Roth And Traditional Individual Retirement Accounts, George Kutner, Lloyd Doney, James Trebby

Accounting Faculty Research and Publications

With the recent introduction of the Roth Individual Retirement Account (IRA) along with a significantly improved Traditional IRA, there has been considerable interest in comparing the performance of these investment vehicles. Some confusion regarding these comparisons has evolved. In this paper we show that this confusion may be attributed to scale and tax differences between the two investment vehicles. We adjust for these differences by focusing on the after-tax rate-of-return on investment for each IRA vehicle. We find that performance depends crucially on the relationship between an individual's tax rates at the time of investment and at the time of …

Feedback On Developing An Ais Curriculum, Joseph Callaghan, Eileen Peacock, Arline Savage

Accounting

This paper gathers evidence about an Accounting Information Systems (AIS) curriculum developed using a Model-Oriented Tool-Enhanced (MOTE) framework. The evidence was gathered by eliciting the perceptions of employer stake holders about the curriculum. The curriculum follows recommendations of the International Federation of Accountants (IFAC) Guideline No. 11. The IFAC recommendations offer guidance on the information technology in content in accounting curricula and are supported by the AICPA. The evidence gathered supports the inclusion of most elements of the curriculum.

An Experimental Assessment Of Business Students' Performance: Recognizing Risk Factors Associated With Misappropriation Of Assets, Kathryn A.S. Lancaster, Carolyn A. Strand

Accounting

This paper reports the results of a study that was conducted to investigate the performance of senior-level business students as it pertains to recognizing certain clues or risk factors that are frequently associated with the misappropriation of entity assets. Based on three of the risk factors identified in SAS No. 82, an experiment was used to examine differences in performance based on academic major, fraud-specific knowledge, and certain experiences of the students. The primary contributions of this study are the discovery that: (1) an increasing number of risk factors; (2) knowledge accumulated in an accounting curriculum; (3) reading additional articles …

2000-2001 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2000-2001 Financial Summary of Morehead State University.

Summary #4: The Effects Of Internal Audit Outsourcing On Perceived External Auditor Independence, D. Jordan Lowe, Marshall A. Geiger, Kurt Pany

Accounting Faculty Publications

The accounting profession is attempting to redefine itself, in part by expanding the types of services it provides. This expansion of services has raised questions about whether CPA firms can maintain their independence and still provide an ever-increasing array of other types of services to audit clients. In this study we addressed financial statement user perceptions about CPA firms performing internal auditing outsourcing activities—an area in which CPAs are becoming increasingly involved.

Exponential Bonus-Malus Systems Integrating A Priori Risk Classification, Llufs Bermudez, Michel Denuit, Jan Dhaene

Journal of Actuarial Practice (1993-2006)

This paper examines an integrated ratemaking scheme including a priori risk classification and a posteriori experience rating. In order to avoid the high penalties implied by the quadratic loss function, the symmetry between the overcharges and the undercharges is broken by introducing parametric loss functions of exponential type.

Analyzing Management Fees Of Pension Funds: A Case Study Of Mexico, Tapen Sinha

Journal of Actuarial Practice (1993-2006)

Though the rates of return for public pension funds have been high over the past two decades, one critical aspect of the financing of this type of fund is often overlooked: high management fees. As a result, the rates of return for workers who have invested in these funds have not necessarily been high. Management fees charged on pension funds in Mexico result in a leakage of funds in the order of 20-30% of the fund. That is, the amount at retirement would have been 20-30% higher had there been no fees. A model is developed that includes all the …

A Framework To Audit Intellectual Capital, Indra Abeysekera

Faculty of Commerce - Papers (Archive)

Until recently few firms have attempted to measure and assess Knowledge, the new intangible. Previous research shows that key components of intellectual capital are poorly understood, inadequately identified, inefficiently managed and inconsistently reported. Two types of audit are available: auditing by competence, and auditing individual or a spectrum of items. There are several methods for auditing these types, and selection depends both on the type of audit, and whether the aim is to quantify monetarily, to make comparisons, or to set benchmarks. A better way to approach the audit is to combine more than one method and audit object, so …

Fitting Loss Distributions In The Presence Of Rating Variables, Farrokh Guiahi

Journal of Actuarial Practice (1993-2006)

This paper focuses on issues and methodologies for fitting alternative statistical models-parametric probability distributions-to samples of insurance loss data. The interactions of loss distributions, deductibles, policy limits, and rating variables in the context of fitting distributions to losses are discussed. Fitted loss distributions serve an important function in pricing insurance products. The methodology developed in this paper is applied to a sample of insurance loss data that has the lognormal as the underlying loss distribution.

A Sensitivity Analysis Of The Premiums For A Permanent Health Insurance (Phi) Model, Ben D. Rickayzen

Journal of Actuarial Practice (1993-2006)

This paper presents an analysis of the parameters used in a multi-state model for permanent health insurance (PHI). The model is a simplification of that used in the United Kingdom. To avoid using duration dependent probabilities, the model splits the sick state into several sub-states to act as a proxy for duration spent in a particular state. This enables a Markov approach to be adopted. Lapses are incorporated within the model, and the net premium for a particular policy is tested for sensitivity to the various parameters used, including their interaction with the lapse rate. One of our conclusions is …

Journal Of Actuarial Practice, Volume 9 (2001), Colin Ramsay , Editor

Journal of Actuarial Practice (1993-2006)

(The complete issue, including) ARTICLES

Analyzing Management Fees of Pension Funds: A Case Study of Mexico • Tapen Sinha 5

Premium Earning Patterns for Multi-Year Policies with Aggregate Deductibles • Thomas Struppeck 45

Exponential Bonus-Malus Systems Integrating A Priori Risk Classification • Lluis Benmidez, Michel Denuit, and Jan Dhaene 67

Fitting Loss Distributions in the Presence of Rating Variables • Farrokh Guiahi 97

Linear Empirical Bayes Estimation of Survival Probabilities with Partial Data • Mostafa Mashayekhi 131

Controlling the Solvency Interaction Among a Group of Insurance Companies • Alexandros Zimbidis and Steven Haberman 151

A Sensitivity Analysis of the Premiums …

Premium Earning Patterns For Multi-Year Policies With Aggregate Deductibles, Thomas Struppeck

Journal of Actuarial Practice (1993-2006)

MUlti-year policies with large aggregate deductibles or multiple triggers raise some interesting issues about the correct amount of unearned premium reserve that a company should carry. Examples in this paper illustrate some of the difficulties that arise when trying to establish such reserves. The basic approach taken here is that the pure premium portion of the unearned premium reserve should always be adequate to cover the remaining risk. This approach, however, can lead to some unusual and controversial earning patterns; there are even situations where a negative premium is earned. In addition, the earning pattern for a particular loss scenario …

Linear Empirical Bayes Estimation Of Survival Probabilities With Partial Data, Mostafa Mashayekhi

Journal of Actuarial Practice (1993-2006)

In this paper we consider linear empirical Bayes estimation of survival probabilities with partial data from right-censored and possibly left-truncated observations. Such data are produced by studies in which the exact times of death are not recorded and the length of time that each subject may be under observation cannot exceed one unit of time. We obtain asymptotically optimal linear empirical Bayes estimators, with respect to the squared error loss function, under the assumption that the probability of death under observation in a unit time interval is proportional to the length of observation. This assumption is sometimes implied by Balducci's …

Controlling The Solvency Interaction Among A Group Of Insurance Companies, Alexandros Zimbidis, Steven Haberman

Journal of Actuarial Practice (1993-2006)

Pooling of risks is an efficient risk management technique used by large employee benefit schemes of multinational companies to self-insure their retirement and other benefit obligations. This technique forms a basis for formulating a general control theoretic model for the interaction between insurance companies within a pooling network. The objective of these insurance companies is to avoid insolvency yet maintain stable premium and surplus processes. A general control system of equations that is used as a model for the interaction of m insurance companies within the network is first analyzed. An analytic solution is provided. Questions concerning the stability and …

Uncertain Litigation Cost And Seller Behavior: Evidence From An Auditing Game, Ping Zhang, Bryan K. Church, Lucy Ackert

Faculty and Research Publications

Investigates difficulties that arise in estimating expected litigation costs in an auditing game in the United States. Effect of effort level on certain and uncertain costs of performing the engagement; Frequency of observed fee offers below the total expected cost of an engagement; Institutional arrangements and damage-sharing regimes; Theoretical and behavioral predictions.

Payroll Tax Incidence: An Empirical Investigation Of Shifting The Payroll Tax Burden, Ted D. Englebrecht, Laurie J. Henry, Govind S. Iyer

Accounting Faculty Publications

The payroll tax earmarked for the financing of social security benefits has been the leading growth tax on small businesses over the past few decades. Small businesses pay more in payroll tax than in any other form of tax. Indeed, these taxes are levied on small businesses irrespective of their profits. The statutory incidence of one-half of the payroll tax being paid by the employer and one-half by the employee may be very different from the actual incidence of the tax due to employer shifting mechanisms.

While there has been considerable conjecture about the shifting of the payroll tax burden, …