Accounting Commons^™

The Relevance Of Non-Financial Key Performance Indicators, Bingxu Fang, Partha Mohanram, Dushyant Vyas

Research Collection School Of Accountancy

The limitations of financials statements in assessing firm performance have long been known to the academic and practitioner accounting communities. Recent years have witnessed a sharp increase in the frequency and scope of non-financial Key Performance Indicators (KPIs) disclosed by companies and used by market participants. In this study, we investigate the relevance of various voluntarily reported non-financial KPIs. We find that KPIs are positively associated with future profitability, sales growth, and current stock returns; however, the stock market underreacts to the information embedded in KPIs for firms operating in opaque information environments.

Debt Covenant Condition And The Relative Use Of Operating Lease And Long-Term Debt, Daniel Gyung Paik, Brandon Byunghwan Lee, Joyce Van Der Laan Smith, Sung Wook Yoon

Accounting Faculty Publications

Purpose: We investigate the relationship between off-balance-sheet (OBS) operating leases and long-term debt by analyzing firms’ debt risk profiles measured by the constraints on firms in the financial ratios in their debt covenants.

Design/methodology/approach: We determine debt risk profiles using three measures: the ex- ante probability of covenant violation (Demerjian and Owens, 2016), firms in violation of debt covenants, and firms close to covenant violations.

Findings: High-risk firms according to all three measures, on average, have a significantly lower level of operating leases, indicating that these firms use OBS leases as a substitute for long-term debt. More interesting, for firms …

Eagle Accountant - 2020, Georgia Southern University

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Penjanaan Ekonomi Masjid Menerusi Aktiviti Perniagaan: Kajian Di Masjid-Masjid Wilayah Persekutuan Kuala Lumpur, Adnan Amru Alhaz

Student Works (2020-2029)

Hubungan di antara masjid dan ekonomi amat berkait rapat mengambil kira sebahagian fungsi asalnya sebagai pusat perkembangan ekonomi masyarakat Islam. Namun begitu kebergantungan institusi masjid kepada sumber pendapatan tradisi mengakibatkan institusi masjid tidak mampu melaksanakan fungsinya secara menyeluruh. Oleh yang demikian, penjanaan ekonomi masjid menerusi aktiviti perniagaan merupakan alternatif terbaik dalam memastikan kelestarian sumber pendapatannya. Justeru kajian ini bertujuan untuk menganalisis sumber pendapatan, aktiviti serta faktor kejayaan perniagaan masjid-masjid kariah di Wilayah Persekutuan Kuala Lumpur (WPKL). Dalam kajian ini, data-data penyata kewangan tahunan rasmi selama tiga tahun (2014-2016) bagi dua belas buah masjid yang mewakili enam buah pusat pentadbiran zon …

Improving Accountants' Ability To Identify, Manage, And Prevent Fraud In Not-For-Profit Organizations, Gabrielle Pauline Fish

Doctoral Dissertations and Projects

Fraud is a growing problem in the not-for-profit (NFP) sector; this problem increases because of the lack of fraud-prevention preparation had by NFP financial professionals. Furthermore, asset misappropriation is the most commonly perpetrated occupational fraud in NFPs. Although approximately 90% of all reported frauds are asset misappropriation, a gap in existing research results in limited data regarding asset misappropriation in NFPs. This study contains an extensive examination of peer-reviewed research regarding fraud topics, with an emphasis on asset misappropriation. The conceptual framework incorporated the Fraud Management Lifecycle Theory, the Fraud Triangle Theory, the Theory of White-Collar Crime, and the Routine …

An Examination Of The Relationship Between The Capital Asset Pricing Model's Systematic Risk Indicator And Stock Returns, Kacy Edward Crowe

Doctoral Dissertations and Projects

The purpose of this quantitative study was to examine the relationship between the Capital Asset Pricing Model’s risk indicator beta and the average monthly returns for stocks in the S&P 100. The problem addressed was that low beta stocks produced higher returns than high beta stocks. The study was conducted using the S&P 100 constituents. The study expanded the research literature regarding the beta anomaly and found a statistically significant result for an association between beta and average monthly returns for stocks in the S&P 100. The study has implications for investors and financial practitioners as to whether beta can …

The Settlement Norm In Audit Legal Disputes: Insights From Prominent Attorneys*, Eldar Maksymov, Jeffrey Pickerd, D. Jordan Lowe, Mark E. Peecher, Andrew Reffett

Faculty Publications

Prior research indicates that most audit legal disputes settle. There is, however, little evidence of the factors that drive the settlement norm and its exceptions in audit legal disputes. To better understand these factors, we rely on theory related to how professionals manage risks and, as a result, how professions defend jurisdictional claims. We use this theoretical lens to help motivate four research questions that we probe by interviewing 27 prominent attorneys experienced in audit litigation. Consistent with our lens, our interview data indicate that attorneys manage their risks, including the risk of reputational loss, by settling based on their …

Overview Of The Asb’S Proposed Quality Management Standards, Sara Lord, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

The Effect Of Audit Materiality Disclosures On Investors’ Decision Making*, Brant E. Christensen, Aasmund Eilifsen, Steven M. Glover, William F. Messier Jr.

Faculty Publications

Recent reviews of the academic literature indicate that little is known regarding how users evaluate the materiality levels auditors use or respond to quantitative materiality disclosure. Regulators around the world have taken different stances on whether materiality should, or should not, be disclosed in the auditor’s report. In response to the dearth of research on these policy decisions, we examine the effect of audit materiality disclosures, or lack thereof, on professional investors’ decision making across different investment contexts (debt vs. equity, public vs. private). Our study is designed to test global audit public policy and as such our hypotheses are …

Research Relevance And Research Productivity, Jared Moon, David A. Wood

Faculty Publications

Research in accounting education has evolved to include, among other areas, research relevance, faculty research productivity, and the use of journal lists. These topics offer new areas for research including investigating the benefits and risks of relevant/irrelevant research, how effectively faculty research is evaluated, the potential consequences of using journal lists, and much more. Although these areas have significant and wide‐ranging effects on faculty, much more empirical data is needed to inform decision making. This paper highlights these issues and makes suggestions for additional research to help the academy make better decisions by using data‐driven research findings.

Perspectives On Management Review Controls: Challenges And Solutions—Insights From A Qualitative Study Of The Issues, John Fogarty, Mark Beasley, Douglas F. Prawitt

Faculty Publications

This study focuses on subjective, judgment-based management review controls (MRCs) used by management teams of public companies (hereinafter referenced as “preparers” or “organizations”) as part of their efforts to address the risk of material misstatements in financial reporting and to effectively and efficiently provide management with reasonable assurance that internal control over financial reporting (ICFR) is effective. This report provides information and insight useful to preparers, auditors, and regulators on issues surrounding the design, implementation, execution, and documentation of MRCs, including issues in the context of ICFR assessments and attestations under Section 404 of the Sarbanes-Oxley Act of 2002 (SOX). …

Materiality Considerations For Attestation Engagements Involving Aspects Of Subject Matters That Cannot Be Quantitatively Measured, American Institute Of Certified Public Accountants. Materiality Working Group

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Codification Of Statements On Standards For Attestation Engagements, Number 20, As Of January 2020, American Institute Of Certified Public Accountants (Aicpa)

AICPA Professional Standards

No abstract provided.

Codification Of Statements On Auditing Standard, Numbers 122 To 138, As Of January 2020, American Institute Of Certified Public Accountants (Aicpa)

AICPA Professional Standards

No abstract provided.

General Accounting And Auditing Developments, 2020/21; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Sheq: Using The Power Of Emotional Intelligence For Success, Jen Shirkani, Steve Friedlein, Angela Bearor, American Institute Of Certified Public Accountants. Women's Initiatives Executive Committee

Guides, Handbooks and Manuals

No abstract provided.