Accounting Commons^™

Thinking Finance - The Comic Book, Dimitrios V. Siskos

Dimitrios V. Siskos

Thinking financially results in the best possible outcome and establishes a secure foundation for the future as an independent man. In contrast, thinking emotionally leads to short-sighted financial decisions and usually, deep regrets. However, thinking financially is not pleasant for the people around us. This comic book presents a guy, whose dream is to become an accountant. When he finally succeeds in this, he realizes that thinking financially may be effective for his boss but it is irritating for everyone else, even for his family.

Could Decision Trees Help Improve Farm Service Agency Lending Decisions?, Benjamin P. Foster, Jozef Zurada, Douglas K. Barney

Benjamin Foster

This study examines whether a statistically derived decision tree could serve as a means to improve U.S.A. Farm Service Agency lending decisions. The study is a substantial extension and reanalysis of an earlier work by Barney, Graves and Johnson, (1999). Results indicate that a decision tree could be a valuable tool for Farm Service Agency employees in their lending decisions. The decision tree provides as good or better predictive accuracy than neural networks and logistic regression models at reasonable cutoff levels of Type II to Type I costs of lending. The decision tree also meets the transparency criteria for Farm …

Additional Evidence On The Impact Of The International Financial Reporting Standards On Earnings Quality: Evidence From Latin America, Mauricio A. Melgarejo

Mauricio Melgarejo

Interpreting Financial Results, Bridget Lyons, Rupendra Paliwal, Danny A. Pannese

Danny Pannese

The article discusses three accounting changes issued by the Financial Accounting Standards Board (FSAB). The Statement of Financial Accounting Standards (SFAS) No. 158 "Employers' Accounting for Defined Benefit Pension and Other Retirement Plans" and the SFAS No. 160 "Noncontrolling Interests in Consolidated Financial Statements" are mentioned. Financial Interpretation 48 "Accounting for Uncertainty in Income Taxes, an Interpretation of FSAB Statement No. 109" is mentioned. The takeaway? Financial analysts, investors, and creditors need to carefully interpret ratios and measures, including debt to equity, liabilities to equity, and return on equity. Financial ratios used in loan covenants should be clearly designed and …

Changing Paradigm In Accounting And Finance, Shyam Sunder

Shyam Sunder

No abstract provided.

Rethinking Financial Reporting: Standards, Norms And Institutions, Shyam Sunder

Shyam Sunder

No abstract provided.

Neururer Cv Tn 2017-10-03.Pdf, Thaddeus A. Neururer

Thaddeus Neururer

No abstract provided.

Beating Market Expectations, Analysts’ Forecasts Dispersion And The Pricing Of Credit Default Swaps, Mauricio A. Melgarejo

Mauricio Melgarejo

The purpose of this paper is to study the impact of beating analysts’ forecasts and the impact of analysts’ forecast dispersion on the pricing of firms’ credit default swaps (CDSs). CDS premium is the compensation required by investors for bearing firms’ credit default risk. Sell-side analysts collect market, industry and firm information and provide important information in the form of stock recommendations, stock price targets and accounting number forecasts. For that reason, the information contained in their forecasts may provide additional information to investors to price CDSs. My results show that firms that beat analysts’ earnings and revenue forecasts, and …

The Stock Market’S Reaction To Accounting Information: The Case Of The Latin American Integrated Market Abstract, Mauricio A. Melgarejo, Eduardo Montiel, Luis Sanz

Mauricio Melgarejo

The purpose of this paper is to explore the stock market’s reaction to quarterly financial statements. We focus our study in two countries that are participating in the Latin American Integrated Market (MILA): Peru and Chile. We find that the cumulative abnormal returns and the absolute value of the cumulative abnormal trading are explained principally by the quarterly earnings surprises around the financial statements release date. We find that these effects are more pronounced in small firms, confirming that due to the lower level of pre disclosure information accounting numbers are the main source of information. Key words: Accounting Information, …

Nevada Continues To Lead Delaware And All Other States And Jurisdictions In 2014 Securities And Exchange Commission Trading Suspensions, Anthony J. Cataldo Ii, Xi (Cici) Cheng, Paul Christ, Thomas Miller

Paul Christ

No abstract provided.

Nevada Continues To Lead Delaware And All Other States And Jurisdictions In 2014 Securities And Exchange Commission Trading Suspensions, Anthony J. Cataldo Ii, Xi (Cici) Cheng, Paul Christ, Thomas Miller

Thomas Miller

No abstract provided.

Assessing Accountability In U.S. Public Education, Anne Kelly, J. Orris

Anne Kelly

Public education accountability rests almost exclusively with schools rather than governments. This paper explores its three dimensions: economy, efficiency, and effectiveness. Performance indicators of these dimensions were developed which facilitated testing of significant differences in means over time using analysis of variance. Only salary and wage expenditures per instruction personnel exhibited greater economy. Instructional equipment per pupil was related to increased efficiency. Several indicators suggested enhanced effectiveness. Student/teacher ratio declined and top performers in public schools improved in achievement. Graduation rate, an indicator of achievement and participation, significantly rose in recent years. In summary, several effectiveness indicators revealed encouraging trends …

Can The Financialised Atmosphere Be Effectively Regulated And Accounted For?, Patty Mcnicholas, Carolyn Windsor

Carolyn Windsor

Purpose – This paper aims to carry out a critical analysis of the proposed Australian emissions trading scheme (ETS) as a complex market solution to reduce greenhouse gases (GHGs). Specifically it seeks to examine the financial regulatory infrastructure that will more than likely oversee the Australian ETS, the same regulatory infrastructure which failed to prevent the global financial crisis.Design/methodology/approach – A critical examination of the financialisation of the atmosphere that follows the growth of the financialisation of capitalism when economic activity shifted from production and service sectors to finance. Financialisation of capitalism is supported by capitalist regulation influenced by neo-liberal …

Cny & Usd: Foreign Exchange Rates, Kimberly D. Scott

Kimberly D Scott

A forward rate is related to a spot rate that is set to take place in the future (Bekaert & Hodrick, 2012). Interestingly, one issue that can be challenging when performing transactions is not knowing what the rate will yield in the future versus at present. Due to market pressures or even policy decisions, either a devaluation or revaluation of domestic currency to foreign currencies can transpire.

Employee's Participation: A Critical Success Factor For Justice Perception, Wai Kwan (Elaine) Lau

Wai Kwan (Elaine) Lau

The present study proposed and tested a model that examines the relationship between leadership style, employee’s participation, and justice perceptions. The paper extended the literature of the justice by connecting three major research areas (leadership style, employee’s participation, and organizational justice), and examined the influences of leadership style and employee’s participation in shaping employee’s perception of justice. Results indicated that transactional, transformational, and dynamic leadership have positive impact on distributive, procedural, and interactional justice. Moreover, the effect of leadership style on organizational justice was indirect through employee’s participation. This study synthesized previous leadership studies and argued that leadership style can …

New Ventures: Control Of Risks Through Strategies, Simone Kelly, Raymond Mcnamara

Ray McNamara

This paper uses case studies and interview data to explore the relationship between control and new venture success/survival. A model of the new venture control process is distilled and explored in six new venture cases. The control processes were traced through an examination of the everyday language of venture principals to determine a grounded lower order model. Integrating these models into contingency theory locates strategic risk reduction choices as the crucial link between contingent variables and organizational control packages. In this sense the process of organizing is seen as a tiered process of risk reduction: successful firms analyze and control …

New Ventures: Control Of Risks Through Strategies, Simone Kelly, Raymond Mcnamara

Simone Kelly

This paper uses case studies and interview data to explore the relationship between control and new venture success/survival. A model of the new venture control process is distilled and explored in six new venture cases. The control processes were traced through an examination of the everyday language of venture principals to determine a grounded lower order model. Integrating these models into contingency theory locates strategic risk reduction choices as the crucial link between contingent variables and organizational control packages. In this sense the process of organizing is seen as a tiered process of risk reduction: successful firms analyze and control …

Tax Havens And Effective Tax Rates: An Analysis Of Private Versus Public European Firms, John Thornton, Aziz Jaafar

John Thornton

We examine the impact of tax haven operations on the effective corporate tax burdens of publicly listed and privately held firms domiciled in Europe. In particular, we consider how European firms' tax haven operations interact with factors such as listing status and home-country tax reporting systems to determine the relative tax burdens of publicly listed and private firms. Our main empirical results show that tax haven operations are associated with lower effective tax rates for both private and public firms, and that the impact of tax havens in lowering effective tax rates is more pronounced for private firms than for …

An Empirical Investigation Of Voluntary Non-Ifrs Earnings Reporting During The Recent Financial Crisis : Australian Evidence, Elisabeth Sinnewe

Dr Elisabeth Sinnewe

This study examines how the financial crisis affected the reporting choice of and market reaction to earnings that are different from the profit firms report on their income statement under International Financial Reporting Standards (IFRS). These non-IFRS earnings reflect management’s subjective of view of earnings. By observing management’s reporting choices and investors’ reaction in Australia prior to, during, and after the financial crisis, this study shows a distinctive effect of the economic condition on reporting non-IFRS earnings. As such, this study contributes to the limited attention hypothesis suggesting that information-equivalent disclosure is perceived as value relevant by management and investors …

Rate Setting And Disclosure In Continuing Care Retirement Communities (Ccrcs), Seth C. Anderson, Jeffrey E. Michelman, Raymond M. Johnson, Kristi Quick

Jeffrey E Michelman

By 2026, the population of Americans age 65 and older will double to 71.5 million. According to a recent study by Metlife, et al., there are five important issues that impact both current and future retirees: Increased longevity with Americans living longer; Changing economic factors such as increased health care costs; A growing skills shortage in many industries; Different beliefs about work among the aging Baby Boomer generation; and Financial resources available for retirement. All five of these factors affect both the ways seniors plan for retirement and the ways that organizations providing services to seniors must respond. Continuing care …

Insolvency Administration As A Strategic Response To Financial Distress, James Routledge, David Morrison

James Routledge

This study considers whether the strategic decision to enter voluntary administration (VA) rather than to trade the company’s business for a protracted period of declining performance is systematically related to the effective monitoring of management decision-making. Analysis that tests the association between strategic entry into VA and the likelihood that a company will reorganize in VA is also presented. We find about half of the companies in our sample entered VA as a strategic choice. The likelihood of strategic entry to VA increased with the proportion of independent board directors, the existence of an audit committee and a dual CEO/chair …

Intangible Investments And The Pricing Of Corporate Sga Expenses, Rongbing Huang, Gim S. Seow, Joe S. Shangguan

Rongbing Huang

This study examined whether the market fully prices the reported Selling, General, and Administrative (SGA) expenses when this item includes an intangible investment component. For a sample of intangible investment-intensive firms, we showed that their SGA expenses benefit future operating performances. Evidence suggests some degree of market inefficiency in the pricing of SGA expenses and the intangible investment component. Furthermore, the financial analysts do not appear to appreciate fully the future benefits of the component in their earnings forecasts. Finally, the pertinent disclosures in firms’ annual reports are so inadequate as to attenuate the market mispricing, suggesting a significant room …

Risk Management Association Estatement Studies Database Review, Marc Vinyard

Marc Vinyard

A Study Of Malaysian Islamic Banks Competitiveness (Logit Regression Approach), Yagoub Elryah Dr.

Yagoub Elryah (PhD)

Banking sector plays an important role in Malaysia development. The specific objective of this study was therefore to what extent Islamic Banks increased competition in banking sector in Malaysia. With the aid of annually data from the BNM, the study covered the period 2002 to 2012. The present study used the Logit regression, the dependent variable was taken by means of dummy, which takes zero for typical and 1 with regard to Islamic banks. By utilizing SPSS, twenty six financial ratios associated with 14 banks were being thoroughly checked by means of enter, forward and backward options inside the search …

Accountability In The Church, Professor Ben C Osisioma

Prof Ben Chuka Osisioma

Traditionally, accountability is the obligation to give a reckoning or explanation for one’s actions and responsibilities to a higher authority. However, for the purpose of this paper, we define accountability as the processes through which an organisation makes a commitment to respond to and balance the needs of stakeholders in its decision making processes and activities, and delivers against this commitment. In the church setting accountability involves managing the resources God has entrusted us with, organising for service and mission, and providing programmes to carry out the church’s mandate. The goal is to help people grow in Christ and learn …

Good Corporate Governance: The Role Of The Accountant, Professor Ben C Osisioma

Prof Ben Chuka Osisioma

Corporate governance deals with the mechanism by which stakeholders of a company exercise control over corporate managers and provide overall direction to the firm, such that stakeholders’ interests are protected. In such a situation, the firm operates more responsibly and profitably, relations are enhanced between the firm and all stakeholders - shareholders, policyholders, employees, suppliers and society at large - the quality of executive and non-executive directors is improved, the firm thinks long-term, information needs of all stakeholders are satisfied, and executive management is monitored properly in the interest of shareholders. The role of the accountant in this setting, is …

Demanda De Institucionales Por Emisiones De Medianas Empresas, John Pineda Galarza

John Pineda Galarza

En abril de 2013 se concretó la primera emisión de papeles comerciales en el ámbito del Mercado Alternativo de Valores (MAV) la cual fue un éxito pues se logró una demanda de 3 a 1, sin embargo los inversionistas institucionales brillaron por su ausencia. En el presente artículo, se analizan los principales desincentivos que tienen inversionistas institucionales como las AFP para invertir en instrumentos emitidos por medianas empresas, planteando en ese sentido algunos temas pendientes en relación con el MAV.

Lobbying On Defense Aerospace: What Factors Impact It And Why, Elisabeta Pana, Austin Smiley, '13

Elisabeta Pana

No abstract provided.

A Comparison Of Curriculum In Banking And Finance Departments, Hasmet Sarigul

Hasmet Sarigul

This descriptive study was conducted to assess banking and finance education curriculum by identifying and comparing the bachelors degree courses being taught at the banking and finance schools. We used a quantitative approach to content analysis. The data of the study have been gathered from the web pages, handbooks and the catalogs of the schools. The study contains all of the bachelors degree banking and finance departments of the universities in Turkey. In the first survey, we identified seven core competency areas for the courses in these schools. In the second survey, six more categories were identified accompanying the competency …

Money Laundering And Abuse Of The Financial System, Hasmet Sarigul

Hasmet Sarigul

Every year, huge amounts of funds are obtained by illegal activities. These illegally obtained funds need a process, which is called laundering, in order to appear legitimately obtained and become usable. Although it is not possible to measure the exact volume of money laundering, the International Monetary Fund has stated that the aggregate amount of it in the world could be somewhere between two and five percent of the world’s gross domestic product. The main vehicle for criminals to launder their illicit money is the financial system. Money laundering threatens the credibility of international financial institutions. It undermines the financial …