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Articles 1 - 30 of 56
Full-Text Articles in Accounting
The Impact Of Sec Deadline: Does Accelerated Sec Filing Deadlines For Publicly Traded Companies Increase Restatements Of Financial Statements?, Angela Sutton
Honors Projects in Accounting
This paper examines the Securities Exchange Commission (SEC) requirement of the 10-K filing deadlines and how the implementation of Sarbanes-Oxley Act (SOX) regulations can cause an increase in the likelihood of misstatements in financial reporting by publicly traded companies. The SEC shortening the deadline time frame had a negative impact on smaller companies since auditors were focusing more on larger companies to get the report done in an effective and timely manner. Investors, in turn, perceive smaller companies as having internal control weaknesses due to being late to file their reports. Data will be collected from all 10-K filing deadlines …
Accounting Industry Decline: Analyzing Enrollment And Retention Challenges, Raegan Rapoza
Accounting Industry Decline: Analyzing Enrollment And Retention Challenges, Raegan Rapoza
Honors Projects in Accounting
Within the accounting industry, there have been rising concerns about the decline in student enrollment along with accountants leaving the profession. Employee turnover is one of the most heavily studied and discussed topics in accounting. Additionally, the profession does not obtain the highly respected reputation that it once did, and university accounting programs are one place where this issue is clearly seen. This study uses enrollment data to establish this decrease across universities as well as retention data across CPA firms. A survey is administered to students, faculty and staff throughout several universities. Industry professionals are interviewed to gain perspective …
Auditors' Decision-Making Aid For Going Concern Audit Opinions Through Machine Learning Analysis, E.J. Lee, Dave Tahmoush
Auditors' Decision-Making Aid For Going Concern Audit Opinions Through Machine Learning Analysis, E.J. Lee, Dave Tahmoush
Accounting Department Faculty Journal Articles
No abstract provided.
How The Tax Cuts And Jobs Act Changed The Distribution Of Itemized Deductions, John Nardolillo Jr.
How The Tax Cuts And Jobs Act Changed The Distribution Of Itemized Deductions, John Nardolillo Jr.
Honors Projects in Accounting
The Tax Cuts and Jobs Act (TCJA) of 2017 introduced significant changes to itemized deductions and the standard deduction, impacting taxpayers across income levels. This study utilizes data from the Statistics of Income to examine changes in tax progressivity and vertical tax equity between 2017 and 2020. The analysis finds that higher-income earners retained a considerably greater benefit from itemizing under the TCJA, indicating a decrease in progressivity post-2017. These results suggest a widening disparity in the tax benefit distribution of itemized deductions, as lower-income groups benefited less from itemizing. The study's insights provide a basis for policymakers as they …
Innovating Under Pressure? Regulatory Intensity And Corporate Innovation, Christy Mak
Innovating Under Pressure? Regulatory Intensity And Corporate Innovation, Christy Mak
Honors Projects in Finance
We investigate the impact of regulatory intensity on innovation outcomes. We examine U.S. publicly listed firms, utilizing a novel firm-level measure of exposure to all federal regulations. The study reveals that highly regulated companies tend to exhibit lower patent value, a reduction in patent filings, and a decrease in patent citations. The results suggest additional costs imposed on firms burdened by heavy regulations. Furthermore, financial distress and political connections mitigate this negative effect. Overall, the paper uncovers a previously undiscovered connection between regulation at an aggregate level and innovation, emphasizing circumstances where regulations may impose costs that outweigh potential benefits.
The Impact Of Recent Accounting Exam Scandals On Students' Perceptions Of The Accounting Profession Versus Individual Firms, Emily Blondin
The Impact Of Recent Accounting Exam Scandals On Students' Perceptions Of The Accounting Profession Versus Individual Firms, Emily Blondin
Honors Projects in Accounting
Scandals regarding major accounting firms have not been uncommon throughout the twenty-first century; however, advancing technology and Certified Public Accountant (CPA) exam restructuring have created a new era of significant accounting scandals. This research paper analyzes the effects of the 2022 Ernst & Young LLC (EY) exam scandal on the perceptions of the accounting profession for the future workforce. Data collected explored undergraduate and graduate students’ perceptions of both the accounting profession and EY before and after reading about the scandal. This examination investigates whether the American Institute of Certified Professional Accountants’ (AICPA) Code of Professional Conduct (Code) holds true, …
Biases Within Internal Managerial Reports: The Trickle-Down Effect, Elizabeth Marses
Biases Within Internal Managerial Reports: The Trickle-Down Effect, Elizabeth Marses
Honors Projects in Accounting
Internal managerial reports are constantly utilized by managers within an organization to make decisions on behalf of the company. When biases become present within these reports, a trickle-down effect also becomes present being that biases have the power to impact one’s decisions and alter the future of a company. This thesis project presents literature that supports this idea and presents one of the more common causes of biases within internal managerial reports, subjective performance evaluations. This project empirically tests whether biased reports alter decision making by presenting an investment type scenario to respondents in both a neutral and biased tone. …
Assessing The Impact Of Covid-19 On Financial Statements: Challenges And Improvements For The Future, Enidia Xhokaxhiu
Assessing The Impact Of Covid-19 On Financial Statements: Challenges And Improvements For The Future, Enidia Xhokaxhiu
Honors Projects in Accounting
The COVID-19 pandemic created several challenges in financial reporting and had a major impact on financial statements. The objective of this thesis is to discuss how financial statements were impacted from an auditing perspective. The goal is to analyze how covid affected the likelihood of misstatement and auditor going concern opinions and understand the challenges that were faced among auditors. By understanding these challenges and how these different areas impacted financial statements, auditors will know how to adjust their processes and become more familiar with these challenges for the future. Overall, the pandemic has caused several negative impacts, and this …
Does An Accounting Internship Impact Cpa Exam Performance?, Xiaochuan Zheng, A. Can Inci
Does An Accounting Internship Impact Cpa Exam Performance?, Xiaochuan Zheng, A. Can Inci
Accounting Department Faculty Journal Articles
We examined whether an accounting internship influences CPA exam performance. Using 2005–2013 candidate data, we found that an internship is significantly related to CPA exam performance in the Auditing (AUD) section. We speculate that the internship’s observed positive effect for the AUD section and the lack of effect for the other three sections is because the audit section more closely reflects knowledge/skills acquired by interns than the other three exam sections. These results have implications for academics and candidates seeking to improve CPA exam performance. Our study also provides information for those considering incorporating an accounting internship into the curriculum.
Cpa Exam Evolution 2024: How Accounting Students Are Impacted In The University Curriculum And In The Industry, Caitlin Mcgrath
Cpa Exam Evolution 2024: How Accounting Students Are Impacted In The University Curriculum And In The Industry, Caitlin Mcgrath
Honors Projects in Accounting
With the updated CPA exam coming out in 2024, accounting education and the profession need to make changes in a variety of areas to ensure their students are ready. This study considers how current accounting students can be prepared, how the new exam will impact undergraduate and graduate accounting curriculum models, and how the workplace has been adjusting to this change in the accounting industry. This research provides perspective and deeper insight into the effects of the CPA exam to come out in 2024. The goal of my research was to gain more knowledge about the new exam and to …
There's No Business Like Show Business: Analyzing The Factors Of Broadway Shows That Have The Most Influence Over The Theatre Industry's Recovery From The Covid-19 Shutdown, Megan Swenson
Honors Projects in Accounting
The COVID-19 pandemic had a significant impact on the Broadway theatre industry, with all performing arts venues suspending performances for at least 18 months. The economic recession associated with the COVID-19 pandemic left actors, directors, and theater workers unemployed for months on end, causing undue economic harm to individual finances and the industry. Since the reopening of Broadway plays and musicals in the fall of 2021, very few shows have been able to reach pre-pandemic levels of income and attendance. This project aims to use a regression analysis of weekly gross income for Broadway shows to predict what factors will …
Scamazon?: Antitrust Concerns In An Incorporated E-Commerce Marketplace, Aidan Macsweeney
Scamazon?: Antitrust Concerns In An Incorporated E-Commerce Marketplace, Aidan Macsweeney
Honors Projects in Accounting
The purpose of this Honors Thesis is to develop an understanding of how Amazon Inc. operates and competes in its own e-commerce marketplace. The paper seeks to answer the research question: Is the relationship between Amazon seller type and list price consistent with regulator antitrust concerns? The goal is to analyze Amazon listings in 27 product categories and how their price/sales effects vary by seller type: Amazon, Fulfilled by Amazon (FBA), and Fulfilled by Merchant (FBM). Special attention will be given to identifying price trends by category, the impact of the "Buy Box", and competing offers on the same listings. …
2017 Tax Cuts And Jobs Act And Its Effect On Vertical Equity For Homeowners, Melanie Auclair
2017 Tax Cuts And Jobs Act And Its Effect On Vertical Equity For Homeowners, Melanie Auclair
Honors Projects in Accounting
Data from the Internal Revenue Service's Statistics of Income (SOI) was analyzed to compare the tax subsidy for homeowners from filing year 2018 (for calendar year 2017) and filing year 2019 (for calendar year 2018). Homeowner tax benefits were calculated with an extensive analysis to understand how the Tax Cuts and Jobs Act changes affected homeowner tax benefits on a vertical equity basis. Prior research has shown homeowner tax benefits are regressive in nature. The primary research question in this study is whether TCJA increased or decreased regressivity of homeowner tax benefits. The results of this study have shown that …
The Impact Of Emerging Big Data And Analytical Approaches, Kennedy Akpeneye
The Impact Of Emerging Big Data And Analytical Approaches, Kennedy Akpeneye
Honors Projects in Accounting
Although accounting has gone through many significant changes over the years due to big data and data analytics, the profession remains at the core of business. Big data has not only impacted the accounting profession but has also completely transformed the business world. As accounting associates are continuously introduced to new technology software, their ability to analyze and interpret data is enhanced. The research in this paper seeks to understand how big data and analytics are currently impacting the work of beginning accounting associates. More specifically, this thesis analyzes certain trends in big data within the accounting industry. This involves …
Changes To Corporate Codes Of Ethics: A Twelve-Year Analysis, Curtis Silverman
Changes To Corporate Codes Of Ethics: A Twelve-Year Analysis, Curtis Silverman
Honors Projects in Accounting
The Enron scandal caused companies and their Board of Directors to reconsider how they were utilizing their code of ethics, especially after the legislation of the Sarbanes-Oxley Act of 2002. Enron's Board of Directors provided the CFO, Andy Fastow, with a waiver of the code of ethics to negotiate with himself, while also on behalf of Enron. The issue with this waiver was that, at the time, investors were left in the dark because they did not need to be notified about any changes or exceptions made to the code of ethics. After learning about why codes of ethics and …
Syllabus For Auditing Concepts & Applications, Charles Cullinan
Syllabus For Auditing Concepts & Applications, Charles Cullinan
Resources
This course presents the basic concepts and procedures involved in an audit of financial statements. Topical coverage includes audit planning, internal control evaluation, and substantive audit testing.
The Tax Cuts And Jobs Act: The Fairest Of Them All?, Julia Sheehan
The Tax Cuts And Jobs Act: The Fairest Of Them All?, Julia Sheehan
Honors Projects in Accounting
This study explores how the tax law changes made through the Tax Cuts and Jobs Act of 2017 (TCJA) had an impact on horizontal equity within the tax system. Through simulations of the “typical taxpayer,” or the median situated taxpayer and homeowner, homeownership tax benefits were computed using the TCJA law as well as the prior tax law. This was completed for both single and married filing joint taxpayers. The typical taxpayer’s benefits under each tax law were compared across various regions of the country to evaluate how horizontal equity had been changed. The simulations’ findings indicate that as a …
Impact Of The Tax Cut And Jobs Act Of 2017 On Six Key Industries, Ariana Bar
Impact Of The Tax Cut And Jobs Act Of 2017 On Six Key Industries, Ariana Bar
Research and Innovation Village
The research showcases the impact of the Tax Cuts and Jobs Act of 2017 on six different industries: agriculture, construction, manufacturing, utilities, finance, and services. Data was obtained from Calcbench, and ratios of income tax to earnings before taxes, assets, and revenue were calculated along with percent changes from 2017 to 2018.It was hypothesized that the Tax Cuts and Jobs Act of 2017 would have a positive impact on these industries and lead to a reduction in taxes. The research demonstrated that change in the corporate tax rate, bonus depreciation, and the NOL carryforward are common aspects of the tax …
Managing The Going Concern Risk In An Uncertain Environment An Analysis Of Regulatory Guidance And Financial Relief For The Covid-19 Pandemic, Nicholas C. Lynch, Michael F. Lynch, Charles Cullinan
Managing The Going Concern Risk In An Uncertain Environment An Analysis Of Regulatory Guidance And Financial Relief For The Covid-19 Pandemic, Nicholas C. Lynch, Michael F. Lynch, Charles Cullinan
Accounting Department Faculty Journal Articles
manufacturing company Regal Beloit reports that it has drawn $255 million on its line of credit, even though it "has a strong balance sheet and does not currently intend to use the borrowed proceeds, but believes an abundance of caution regarding its cash position is prudent at this time." Management's Responsibility The responsibility to prepare financial statements on a going concern basis under U.S. GAAP and the International Financial Reporting Standards (IFRS) falls on management. Managers must look forward for a "reasonable period of time," defined as 12 months from the financial statement issue date or 12 months from the …
Institutional Ownership And Value Relevance Of Corporate Social Responsibility Disclosure: Empirical Evidence From China, Ramiz Ur Rehman, Zahid Riaz, Charles Cullinan, Junrui Zhang, Fanghua Wang
Institutional Ownership And Value Relevance Of Corporate Social Responsibility Disclosure: Empirical Evidence From China, Ramiz Ur Rehman, Zahid Riaz, Charles Cullinan, Junrui Zhang, Fanghua Wang
Accounting Department Faculty Journal Articles
We examine the relationship between corporate social responsibility (CSR) disclosure and firm value in China. Using a sample of listed companies on the Shanghai Stock Exchange from 2008 to 2012, we find that market value of a firm is higher when a company makes a lower level of CSR disclosure. Other things being equal, this relationship becomes positive when the CSR disclosure is moderated with the institutional ownership. With regard to the CSR disclosure, we found consistent results with respect to the little evidence that the amount of CSR disclosure is significantly associated with market value among those companies who …
Differential Informativeness Of Accrual Measures To Analysts’ Forecast Accuracy, Kwadwo Asare, Lookman Buky Folami, Elena Precourt
Differential Informativeness Of Accrual Measures To Analysts’ Forecast Accuracy, Kwadwo Asare, Lookman Buky Folami, Elena Precourt
Accounting Department Faculty Journal Articles
This paper evaluates whether analysts incorporate formal measures of earnings quality into their earnings forecasts. It examines whether the accrual ratio and abnormal accruals, measured with the Modified Jones (1991) Model of discretionary accruals, differentially inform analysts’ earnings forecasts. It uses the accuracy of analysts’ forecast as a context in which to evaluate how well analysts incorporate effects of the information contained in accrual ratio and abnormal accruals. The results indicate that the accrual ratio is negatively related to the absolute value of analysts’ forecast errors while the Modified Jones (1991) Model of discretionary accruals have virtually no economic effect …
Modeling Market Reactions To Auditor Changes Using Variable Selection Algorithms: A Meta-Analysis, Richard Holowczak, David A. Louton, Hakan Saraoglu, Charles Cullinan
Modeling Market Reactions To Auditor Changes Using Variable Selection Algorithms: A Meta-Analysis, Richard Holowczak, David A. Louton, Hakan Saraoglu, Charles Cullinan
Accounting Department Faculty Journal Articles
Market reactions to auditor change filings have been studied over a long period in the literature. We provide a review of the literature on market response to auditor changes and identify a superset of variables used in published research. Applying methods from machine learning to optimize variable selection, we build models that explain market reaction to auditor changes. We compare the performance of our models with the performance of the models that use subsets of variables examined in a select list of studies in the literature. Our meta-analysis results in an improvement in model fit compared to the analysis used …
How Does Variability In Cash Flows And Returns Influence How Top Executives Are Paid?, Kwadwo N. Asare
How Does Variability In Cash Flows And Returns Influence How Top Executives Are Paid?, Kwadwo N. Asare
Accounting Department Faculty Journal Articles
I invoke agency theory to evaluate how top executives’ compensation contracts are structured, conditional on risk in the firm’s operating environment, focusing on the total, fixed, and variable components. The results suggest that companies exert some effort to adhere to agency theoretic principles in designing top executive compensation contracts. However, imperfections in the pay setting process mean that there is ample room for powerful CEOs to seek rents. Furthermore, when risk in the operating environment is measured with volatility in returns, non-CEO top executives sometimes bear greater risk than CEOs, collecting a greater percentage of their compensation in variable pay …
"Profitability" Analysis, Ekta Chugh
"Profitability" Analysis, Ekta Chugh
Honors Projects in Accounting
The United States has a very unique healthcare system. The different layers of variance from care coordination, case management to utilization in all parts of healthcare makes the system really complex. With the continuous evolution in the healthcare system including changes in healthcare laws and payment methods, the profitability and financial sustainability of hospitals have become aspects of utmost importance not only to the hospitals but also to the people in general. My senior thesis focuses on the determination of the financial sustainability of hospitals. To understand that, I conducted a comparative analysis of profitability among different departments in a …
Earnings Persistence And Levels Of The Accrual Ratio And Discretionary Accruals, Kwadwo Asare
Earnings Persistence And Levels Of The Accrual Ratio And Discretionary Accruals, Kwadwo Asare
Accounting Department Faculty Journal Articles
This paper evaluates how persistent earnings and its accrual and cash flow components are conditional on the modified Jones Model discretionary accruals and the accrual ratio. Consistent with prior research cash flows are more persistent than both earnings and the accruals component of earnings. While the difference in persistence of the extreme deciles of Discretionary Accruals are not very large, those of the Accrual Ratio are much larger, suggesting that the Accrual Ratio can be a simple but effective gauge of earnings persistence and can complement Discretionary Accruals as a measure of the persistence dimension of earnings quality.
How Informative Are Fraud And Non-Fraud Firms' Earnings?, Kwadwo Nyarko Asare
How Informative Are Fraud And Non-Fraud Firms' Earnings?, Kwadwo Nyarko Asare
Accounting Department Faculty Journal Articles
This study evaluates how informative the earnings of fraud firms are compared to peer non-fraud firms by assessing informativeness in the context of persistence, analysts’ forecast errors, and stock returns. There are differences in how informative the earnings of fraud firms are to analysts’ forecasts and returns in the pre-fraud period, but not in the fraud period. In the post- fraud period, there is no difference in how informative fraud firms’ earnings are to analysts’ earnings forecasts. Furthermore, fraud firm’s earnings are not differentially associated with excess returns post-fraud. When earnings are decomposed into accruals and cash flows, fraud firms’ …
Five Types Of Interest Expense, Three Sets Of New Rules, Larry Witner, Tim Krumwiede
Five Types Of Interest Expense, Three Sets Of New Rules, Larry Witner, Tim Krumwiede
Accounting Department Faculty Journal Articles
Individual taxpayers are subject to different rules for deducting different types of interest expense. The five primary types of interest for individual taxpayers are student loan interest, qualified residence indebtedness interest, investment interest, business interest, and personal interest. The law known as the Tax Cuts and Jobs Act temporarily introduced new rules for years after 2017 for qualified residence indebtedness interest, investment interest, and business interest. For 2018 through 2025, the acquisition indebtedness limit on the qualified residence indebtedness deduction has been lowered to $750,000 for loans incurred after Dec. 15, 2017, and the separate deduction for home-equity indebtedness has …
Portfolio Liquidity And Share Turnover Of Closed-End Mutual Funds, Charles P. Cullinan, Xiaochuan Zheng, Elena Precourt
Portfolio Liquidity And Share Turnover Of Closed-End Mutual Funds, Charles P. Cullinan, Xiaochuan Zheng, Elena Precourt
Accounting Department Faculty Journal Articles
We examine the relationship between the liquidity of the portfolios of closed-end mutual funds and the share turnover of closed-end funds' shares. We find that the portfolio liquidity/share turnover relationship is contingent upon the nature of the funds' shareholders. For funds with mainly smaller shareholders, there is a negative relationship between portfolio liquidity and share turnover, suggesting that smaller investors are more likely to hold shares of these funds to avoid the transaction costs associated with trading. However, as more institutional investors hold fund shares, portfolio liquidity is positively associated with share turnover.
Hospital Cost Accounting: Saving Lives And Saving On Costs, Amanda Whitehouse
Hospital Cost Accounting: Saving Lives And Saving On Costs, Amanda Whitehouse
Honors Projects in Accounting
Within an industry constantly pursuing accuracy, a cost accounting system that addresses the ongoing concerns of saving money and increasing efficiency is a must. Now more than ever, hospitals require reliable information to combat the conflicting relationship between an increase in spending on new instruments and specialized staff, but a decrease in funding. This project explores potential avenues to find a successful cost accounting method using past research, analysis of hospitals’ current environments, and expert opinions from hospital and healthcare personnel. Each hospital is different based on their environment, surrounding population, type of services provided, and personal demands. This study …
Corporate Governance A Comparative Analysis In India And The Us, Pallak Bhandari
Corporate Governance A Comparative Analysis In India And The Us, Pallak Bhandari
Honors Projects in Accounting
My senior capstone project focuses on the importance of transparency and monitoring within corporate governance, especially in India and the US. To understand corporate governance, I studied the different theories and models of corporate governance as well as sustainability reporting. This research discusses the legal and regulatory environment within India and the US, and through a comprehensive study of the regulatory bodies within the two countries, I determined the best practices of corporate governance. I conducted a comparative analysis across India and the US with focus on 13 elements: insider trading, disclosure and certification of financial statements, remuneration disclosure, code …