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Articles 301 - 330 of 402
Full-Text Articles in Accounting
Do Earnings Reported Under Ifrs Tell Us More About Future Earnings And Cash Flows?, T.J. Atwood, Michael S. Drake, James N. Myers, Linda A. Myers
Do Earnings Reported Under Ifrs Tell Us More About Future Earnings And Cash Flows?, T.J. Atwood, Michael S. Drake, James N. Myers, Linda A. Myers
Faculty Publications
We contribute to the debate about the relative benefits and costs of International Financial Reporting Standards (IFRS) adoption by examining whether earnings persistence and the association between current accounting earnings and future cash flows differ for firms reporting under IFRS versus firms reporting under United States Generally Accepted Accounting Principles (U.S. GAAP) and firms reporting under non-U.S. domestic accounting standards (DAS). Using samples comprised of 58,832 firm-year observations drawn from 33 countries from 2002 through 2008, we find that positive earnings reported under IFRS are no more or less persistent than earnings reported under U.S. GAAP but losses reported under …
Accounting For Lease Renewal Options: The Informational Effects Of Unit Of Account Choices, Jeffrey Hales, Shankar Venkataraman, T. Jeffrey Wilks
Accounting For Lease Renewal Options: The Informational Effects Of Unit Of Account Choices, Jeffrey Hales, Shankar Venkataraman, T. Jeffrey Wilks
Faculty Publications
This study examines the informational effects of unit of account choices in the context of a proposed standard on lease accounting. Standard setters have tentatively decided that leases in excess of one year should be recognized on a lessee’s balance sheet, including optional lease periods, even though the lessee can choose not to renew the lease. We argue that this approach lacks representational faithfulness and creates an informational problem for users. Using an experiment, we show that the proposed treatment of renewal options has a negative effect on lenders’ willingness to lend to a firm with renewal options. However, we …
Financial Statement Overview: Ferreting Out The Secrets, Annetta M. Gibson
Financial Statement Overview: Ferreting Out The Secrets, Annetta M. Gibson
Faculty Publications
A presentation for the Lake Union Conference on how to analyze financial statements
Current Issues In Accounting: Will London Rule The Accounting World?, Annetta M. Gibson
Current Issues In Accounting: Will London Rule The Accounting World?, Annetta M. Gibson
Faculty Publications
A presentation on the Converging U.S. GAAP and International GAAP (IFRS)
User Information Risk: How It Improves Audit Quality, Jack R. Ethridge, Treba Marsh
User Information Risk: How It Improves Audit Quality, Jack R. Ethridge, Treba Marsh
Faculty Publications
Audited financial statements are the basis for the communication of essential financial information. Accordingly, the reliability of the financial statements is of extreme importance to all parties involved in the process. This paper identifies the three primary parties as the organization, the auditor, and the user and recommends the user play an increased role in this process. The user should be allowed to analyze the quality of the auditor and audit process based upon five critical factors that should be required to be disclosed by the auditor. This paper discusses the five factors and how each one could benefit the …
Survey Responses: Mail Versus Email Solicitations, Rodger G. Holland, Aileen Smith, James R. Hasselback, Bryson Payne
Survey Responses: Mail Versus Email Solicitations, Rodger G. Holland, Aileen Smith, James R. Hasselback, Bryson Payne
Faculty Publications
Surveys, particularly electronic surveys, are becoming popular methods of eliciting consumer responses. For example, many businesses now have survey sites printed on the bottom of receipts with some future discount as an enticement to participate. Clearly, the intent of such incentives is to stimulate participation. Surveys have also become popular in academia, but rarely are incentives offered. Clearly, those in academia also prefer a high participation rate, but without financial incentives what can be done to encourage participation? This research attempts to address that question.
The Impact Of Groups And Decision Aid Reliance On Fraud Risk Assessment., Anna Alon, Peggy Dwyer
The Impact Of Groups And Decision Aid Reliance On Fraud Risk Assessment., Anna Alon, Peggy Dwyer
Faculty Publications
The purpose of this paper is to investigate how the brainstorming component of Statement of Auditing Standards (SAS) No. 99 influences decision aid use and reliance, and the effectiveness of fraud risk assessment. The research framework links the influences of the fraud assessment setting and decision aid reliance. The hypotheses are tested in an experiment with two manipulated factors: setting (group or individual) and decision aid (provided or not provided). The results of the study provide insight on how the brainstorming impacts fraud risk assessment, decision aid use and decision aid reliance. The results show that groups using a decision …
Moving Towards A Culturally Diverse Accounting Profession, Elizabeth K. Jenkins, M. Calegari
Moving Towards A Culturally Diverse Accounting Profession, Elizabeth K. Jenkins, M. Calegari
Faculty Publications
This paper discusses the increasing diversity in the accounting profession. Evidence is presented substantiating that over one third of recent accounting graduates are from ethnic minority backgrounds, the majority of whom are Asian/Pacific Islanders. In our university specific data, we find an even higher percentage (71%) of ethnic minorities receiving accounting degrees, with Asian/Pacific Islanders as the majority group. We also show that over one fourth of new accounting graduates hired by accounting firms are ethnic minorities of which fifty percent are Asian/Pacific Islanders.
Corporate Social Responsibility And Earnings Reporting, Mary F. Calegari, T. Chotigeat, M. A. Harjoto
Corporate Social Responsibility And Earnings Reporting, Mary F. Calegari, T. Chotigeat, M. A. Harjoto
Faculty Publications
Despite increasing interests on corporate social responsibility (CSR) activities among managers, the relationship between CSR and firm value through earnings reporting quality is still unclear. Absence of a strong positive effect of CSR on firm value has led researchers to believe that CSR is a res ult of a principal-agent issue between shareholders and managers. This study argues CSR represents a corporate culture that influences how a corporation reports its earnings. CSR influ ences earnings reporting ·instead ofearnings reporting drives CSR to delude shareholders. CSR induces better earnings reporting quality, therefore, CSR has an indirect but positive effect on firm …
Decomposition Of Fraud-Risk Assessments And Auditors’ Sensitivity To Fraud Cues*, T. Jeffrey Wilks, Mark F. Zimbelman
Decomposition Of Fraud-Risk Assessments And Auditors’ Sensitivity To Fraud Cues*, T. Jeffrey Wilks, Mark F. Zimbelman
Faculty Publications
Practitioners and regulators are concerned that when auditors perceive management’s attitude or character as indicative of low fraud risk, they are not sufficiently sensitive to high levels of incentive or opportunity risks in their overall fraud-risk assessments. In this study, we examine whether a fraud-triangle decomposition of fraud-risk assessments (that is, separately assessing attitude, opportunity, and incentive risks prior to assessing overall fraud risk) increases auditors’ sensitivity to opportunity and incentive cues when perceptions of management’s attitude suggest low fraud risk. In an experiment with 52 practicing audit managers, we find that auditors who decompose fraud-risk assessments are more sensitive …
Norms, Conformity, And Controls, William B. Tayler, Robert J. Bloomfield
Norms, Conformity, And Controls, William B. Tayler, Robert J. Bloomfield
Faculty Publications
Research in behavioral economics suggests that in addition to their traditional incentive effects, formal control systems can influence psychological motivations. We extend this literature by demonstrating experimentally that formal controls directly influence people’s sense of what behaviors are appropriate in the setting (personal norms), and indirectly alter people’s tendency to conform to the behavior of those around them (descriptive norms). These effects persist even after the controls are changed, so that the effects of current controls can be strongly influenced by past control strength. Our results support those who are incorporating psychological factors into principal-agent models (such as Fischer and …
Changing Careers -- Six Options For Becoming A Cpa, Elizabeth V, Grace, T. G. Black
Changing Careers -- Six Options For Becoming A Cpa, Elizabeth V, Grace, T. G. Black
Faculty Publications
No abstract provided.
The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza
The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza
Faculty Publications
Drawing on Schumpeterian theory, this article presents estimates of a first-order autoregressive model of profit persistence for large US firms, using Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, and simple (unadjusted) accounting measures from the Compustat database. We hypothesize about the differences we should expect to find between these two sets of estimates, and also provide a fresh normative assessment of the dynamic competitiveness of the US economy.
The Effects Of Financial Statement Information Proximity And Feedback On Cash Flow Forecasts, Frank D. Hodge, Patrick E. Hopkins, David A. Wood
The Effects Of Financial Statement Information Proximity And Feedback On Cash Flow Forecasts, Frank D. Hodge, Patrick E. Hopkins, David A. Wood
Faculty Publications
The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB), in their joint Financial Statement Presentation project, are reconsidering the basic format of financial statements. The Boards' preliminary discussions related to this joint project indicate that they intend to modify the required financial statements to increase the proximity of performance-related information for each reported period, but also to reduce the number of reported periods. We provide evidence related to each of these potential changes by investigating the effects of financial-statement information proximity and the number of periods of reported performance on investors' ability to learn the forecast-relevant time-series …
Accounting Program Research Rankings By Topical Area And Methodology, Joshua G. Coyne, Scott L. Summers, Brady Williams, David A. Wood
Accounting Program Research Rankings By Topical Area And Methodology, Joshua G. Coyne, Scott L. Summers, Brady Williams, David A. Wood
Faculty Publications
This paper makes two novel contributions to ranking accounting research programs constructed from publication counts in top journals (AOS, Auditing, BRIA, CAR, JAE, JAR, JATA, JIS, JMAR, RAST, and TAR). In contrast to previous studies, we recognize the mobility of intellectual assets tied to the human capital of accounting researchers and therefore base our rankings on the researchers' current affiliations, rather than their affiliations at the time of publication. Also, we categorize each article written by topical area (auditing, financial, managerial, accounting information systems, tax, and other) and by methodology (analytical, archival, experimental, and other) and provide separate accounting program …
Book-Tax Conformity, Earnings Persistence And The Association Between Earnings And Future Cash Flows, T.J. Atwood, Michael S. Drake, Linda A. Myers
Book-Tax Conformity, Earnings Persistence And The Association Between Earnings And Future Cash Flows, T.J. Atwood, Michael S. Drake, Linda A. Myers
Faculty Publications
Calls for eliminating differences between accounting earnings and taxable income in the U.S. have been debated extensively. Proponents of increased book-tax conformity argue that tax compliance will increase and earnings quality will improve. Opponents argue that earnings quality will decline. We examine whether the level of required book-tax conformity affects earnings persistence and the association between earnings and future cash flows. We develop a comprehensive book-tax conformity measure and find that earnings have lower persistence and a lower association with future cash flows when conformity is higher. Our evidence suggests that increased book-tax conformity may reduce earnings quality.
Do Voluntary Disclosures That Disavow The Reliability Of Mandated Fair Value Information Reflect Legitimate Concerns About Reliability?, Walter G. Blacconiere, James R. Frederickson, Marilyn F. Johnson, Melissa F. Lewis-Western
Do Voluntary Disclosures That Disavow The Reliability Of Mandated Fair Value Information Reflect Legitimate Concerns About Reliability?, Walter G. Blacconiere, James R. Frederickson, Marilyn F. Johnson, Melissa F. Lewis-Western
Faculty Publications
One consequence of the shift to fair value measurement is the emergence of voluntary disclosures in audited financial statements that question the reliability of mandated fair value information. We refer to these disclosures as reliability disavowals and address three questions: Are fair value estimates less reliable for firms that disavow? Do managers of disavowal firms have reason to believe that they cannot reliably estimate the disavowed fair values? Are factors indicative of reliability problems associated with the decision to disavow? We address these questions in the context of managers’ stock option compensation estimates disclosed under SFAS 123. Our results suggest …
Entity-Level Controls: The Internal Auditor's Assessment Of Management Tone At The Top, James Hansen, Nathaniel M. Stephens, David A. Wood
Entity-Level Controls: The Internal Auditor's Assessment Of Management Tone At The Top, James Hansen, Nathaniel M. Stephens, David A. Wood
Faculty Publications
The internal audit function’s (IAF) regular interaction with management and continual presence within the organization place it in a unique position to monitor the organization. Although the IAF has significant potential to evaluate and improve corporate governance, research has yet to explore how internal auditors assess an important component of corporate governance— management tone at the top. This paper reports survey evidence of 578 practicing internal auditors related to (1) current internal auditing practices regarding assessing management’s tone, (2) internal auditor’s current assessments of management’s tone, and (3) potential future practices internal auditor’s could perform to improve management’s tone. In …
Entrepreneurial Success: Differing Perceptions Of Entrepreneurs And Venture Capitalists, Ervin L. Black, F. Greg Burton, David A. Wood, Aaron F. Zimbelman
Entrepreneurial Success: Differing Perceptions Of Entrepreneurs And Venture Capitalists, Ervin L. Black, F. Greg Burton, David A. Wood, Aaron F. Zimbelman
Faculty Publications
The recent credit crisis has made it more difficult for entrepreneurs to find funding. It is increasingly important for entrepreneurs to know what is important to venture capitalists (VCs) when they make their funding decisions. We interview entrepreneurs and VCs to determine traits these groups perceive as necessary for entrepreneurial success. We find that entrepreneurs cite traits inherent to their nature significantly more than VCs. Additionally, entrepreneurs who do not have previous VC funding experience differ significantly from VCs in identifying important factors for VC funding. In contrast, entrepreneurs with previous VC funding experience did not differ from VCs in …
An Introduction To Fund Accounting, Annetta M. Gibson
An Introduction To Fund Accounting, Annetta M. Gibson
Faculty Publications
Presentation for the treasurers, Inter-American Division, October 19 and 20, 2009
Integrating Modern World Tax Issues Into The Classroom, Annette M. Nellen
Integrating Modern World Tax Issues Into The Classroom, Annette M. Nellen
Faculty Publications
The article examines the benefits of interdisciplinary and integrated coursework that brings modern world issues into a tax classroom. Among the topics suggested for possible integration into such a course are virtual worlds and climate change. It says the subjects where chosen for their currency and the advantages they offer in engaging college students and providing an opportunity for them to apply integrated learning in the course. Some resource materials relevant to tax issues are also provided.
Gasb Statement No. 31: Why No Controversy?, George L. Hunt
Gasb Statement No. 31: Why No Controversy?, George L. Hunt
Faculty Publications
Fair value reporting of investments in the financial statements of commercial enterprises is required under FASB Statement No. 115. The standard created much controversy when issued due to provisions that changes in fair values of certain investments were recognized in the operating statement. A major concern to many organizations was the volatility these recognized, but unrealized, changes in fair value would create in reported earnings. When the GASB issued Statement No. 31 requiring fair value reporting of investments there was little controversy concerning volatility to reported earnings of governmental entities, even though the standard required much broader application of fair …
Using Peer Grading And Proofreading To Ratchet Student Expectations In Preparing Accounting Cases, Laura R. Ingraham, B. A. Chaney
Using Peer Grading And Proofreading To Ratchet Student Expectations In Preparing Accounting Cases, Laura R. Ingraham, B. A. Chaney
Faculty Publications
Accounting educators struggle with ways to incorporate the development of critical thinking and communication skills into the curriculum. Case analysis is one tool for developing these skills. We examine whether students’ case analysis scores improve as a result of participation in peer grading and peer review. We find that students improve their ability to perform case analyses after both evaluating and being evaluated by student peers. Students initially experience an Expectation Ratcheting learning effect after evaluating the case of a peer. Subsequently, students experience an Enhanced Feedback learning effect from the comments and suggestions made by the peers who evaluated …
Calls For Accountability: Will It Help The Overall Incentives Process?, Annette M. Nellen
Calls For Accountability: Will It Help The Overall Incentives Process?, Annette M. Nellen
Faculty Publications
No abstract provided.
The 50th Anniversary Of Stopgap Legislation, Annette M. Nellen
The 50th Anniversary Of Stopgap Legislation, Annette M. Nellen
Faculty Publications
No abstract provided.
Earnings Misstatements, Restatements, And Corporate Governance, William G. Heninger, Yongtae Kim, Sandeep Nabar
Earnings Misstatements, Restatements, And Corporate Governance, William G. Heninger, Yongtae Kim, Sandeep Nabar
Faculty Publications
High profile financial restatements from companies like Enron, Worldcom, Healthsouth, and Tyco as well as less celebrated restatements from such companies as Red Hat, Nortel, and Bristol-Myers Squibb have shaken public trust in the U.S. capital market. The restating companies have watched their credit ratings drop, market values erode, and occasionally even faced bankruptcy (Palmrose et al. 2004; Hirschey et al. 2005). The preponderance of restatements, in part, led to the enactment of the Sarbanes-Oxley Act which reemphasized the need for, and the importance of, strong corporate governance.
Internal Audit Quality And Earnings Management, Douglas F. Prawitt, Jason L. Smith, David A. Wood
Internal Audit Quality And Earnings Management, Douglas F. Prawitt, Jason L. Smith, David A. Wood
Faculty Publications
Internal auditors often perform work that is relevant to their host entities’ financial reporting processes, yet little research attention has focused on the effects of internal auditing on companies’ external financial reporting. Using a unique and previously unavailable data set, we investigate the relation between internal audit function (IAF) quality and earnings management. We measure IAF quality using a composite measure comprising six individual components of IAF quality based on SAS No. 65, which guides external auditors in assessing the quality of an IAF with respect to its role in financial reporting. Earnings management is measured using two separate proxies, …
Exploring Accounting Fraud In The Subsidiary Environment, Carmelita J. Troy, Madeline Ann Domino, Steven P. Landry
Exploring Accounting Fraud In The Subsidiary Environment, Carmelita J. Troy, Madeline Ann Domino, Steven P. Landry
Faculty Publications
This research explores accounting fraud in the subsidiary environment. Utilizing institutional theory, we propose that the subsidiary environment provides an opportune setting and vehicle for individuals to commit accounting fraud. While a growing body of literature exists on accounting fraud, minimal work has focused on the role of the subsidiary in accounting fraud, as reported by the Securities and Exchange Commission (SEC). We sample companies for which the SEC has documented accounting fraud in their enforcement releases. We then analyze the related SEC documents to determine to what extent, if any, a subsidiary is involved in the accounting fraud. Our …
Disclosure Quality And The Mispricing Of Accruals And Cash Flow, Michael S. Drake, James N. Myers, Linda A. Myers
Disclosure Quality And The Mispricing Of Accruals And Cash Flow, Michael S. Drake, James N. Myers, Linda A. Myers
Faculty Publications
In this paper, we investigate the role that disclosure quality plays in the accurate valuation of accruals and cash flow. We predict that stock prices of firms with higher-quality disclosures more accurately reflect the persistence of accruals and cash flow. We test our predictions using analyst ratings of disclosure published in the annual Association for Investment Management and Research (AIMR) Corporate Information Committee Reports for the years 1982 through 1996. The results provide strong evidence of mispricing for the subset of firms with lower-quality disclosures and of a significant reduction in mispricing for the subset of firms with higher-quality disclosures. …
The Balanced Scorecard As A Strategy-Evaluation Tool: The Effects Of Implementation Involvement And A Causal-Chain Focus, William B. Tayler
The Balanced Scorecard As A Strategy-Evaluation Tool: The Effects Of Implementation Involvement And A Causal-Chain Focus, William B. Tayler
Faculty Publications
This paper uses an experiment to examine whether involvement in scorecard implementation can mitigate the effects of motivated reasoning that occur when the scorecard is framed as a causal chain rather than merely as a balanced set of measures. Psychological research on motivated reasoning suggests that managers will evaluate and interpret data in ways consistent with their preferences, increasing their tendency to arrive at conclusions that are consistent with their desired conclusions (Kunda 1990). Consistent with that research, results of my study show that managers who are involved in selecting strategic initiatives perceive those initiatives as having been more successful …