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Full-Text Articles in Accounting

Fair Value Accounting: Affect On The Auditing Profession, Danny A. Pannese, Alan Delfavero Jun 2017

Fair Value Accounting: Affect On The Auditing Profession, Danny A. Pannese, Alan Delfavero

Danny Pannese

During this period of global markets, multinational corporations are demanding financial accounting standards with enhanced uniformity. In an effort to achieve this objective, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together on the Convergence Project, aiming to develop accounting standards that closely correlate with international financial reporting standards. In September 2006 and February 2007, the FASB issued two key fair value accounting (FVA) standards which focused on providing guidelines for fair value measurement (through a classification hierarchy), expanding disclosure requirements, and also allowing business entities to increase FVA's application. However, the …


Interpreting Financial Results, Bridget Lyons, Rupendra Paliwal, Danny A. Pannese Jun 2017

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 …


Shu To Host Cpa Tax School Sessions At Stamford Graduate Center In August, Danny A. Pannese Jun 2017

Shu To Host Cpa Tax School Sessions At Stamford Graduate Center In August, Danny A. Pannese

Danny Pannese

The American Institute of CPAs (AICPA), the world’s largest association representing the accounting profession, will conduct its 2017-18 “Tax School: Tax Staff Essentials” at Sacred Heart University’s Stamford campus in August.


Master’S In Accounting Program Receives $25k For Endowed Scholarship Fund, Danny A. Pannese May 2016

Master’S In Accounting Program Receives $25k For Endowed Scholarship Fund, Danny A. Pannese

Danny Pannese

Sacred Heart University’s master’s in accounting (MSA) program has received $25,000 from the Connecticut chapter of the National Association of Certified Valuation Analysts (NACVA) to fund scholarships for graduate students.