Accounting Commons^™

Management Earnings Forecasts And Value Of Analyst Forecast Revisions, Yongtae Kim, Minsup Song

Accounting

This study examines the stock-price reactions to analyst forecast revisions around earnings announcements to test whether preannouncement forecasts reflect analysts' private information or piggybacking on confounding events and news. We find that management earnings forecasts influence the timing and precision of analyst forecasts. More importantly, evidence suggests that prior studies' finding of weaker (stronger) stock-price responses to forecast revisions in the period immediately after (before) the prior-quarter earnings announcement disappears once management earnings forecasts are controlled for. To the extent that management earnings forecasts are public disclosures, our results suggest that the importance of analysts' information discovery role documented in …

What Happens When A Stock Is Added To The Nasdaq-100 Index? What Doesn’T Happen?, Susana Yu, Gwendolyn Webb, Kishore Tandon

Department of Accounting and Finance Faculty Scholarship and Creative Works

Purpose – Prior research on additions to the S&P 500 and the smaller MidCap 400 and SmallCap 600 indexes reach different conclusions regarding the key variables that explain the cross-section of announcement period abnormal returns. Most notable in this regard is that liquidity measures, long thought to be of importance, do not appear to explain abnormal returns of the S&P 500 when other factors are controlled for. By contrast, they do appear to matter for additions to the smaller stock indexes. To explore this difference, the purpose of this paper is to analyze the abnormal returns upon announcement that a …

An Exploration Of Income Characteristics: Analyzing Targets And Acquirers In Banking Mergers And Acquisitions, Stephanie S. Simpson

Honors College Theses

With the large number of bank mergers occurring from 1990 to 2007, it is useful to know why acquirers chose to merge with these targeted entities. This research analyzes the income characteristics of targets and acquirers for this period to determine any indicators that distinguish an acquirer’s income structure from a target’s. To do this, income statement items from these banking entities are examined using factors such as size, serial or nonserial classification, and (for the targets only) public or private status. The research concludes that acquirers and targets indeed attain different income, cost, and efficiency characteristics.

State And Local Governments, March 1, 2015; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Government Auditing Standards And Single Audits, February 1, 2015, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Government Auditing Standards And Single Audit Developments - 2015/16; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

State And Local Governments, March 1, 2014; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Government Auditing Standards And Circular A-133 Audits, February 1, 2014, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Statement On Standards In Personal Financial Planning Services, American Institute Of Certified Public Accountants. Personal Financial Planning Section

AICPA Professional Standards

No abstract provided.

Government Auditing Standards And Circular A-133 Developments - 2014; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

When Does The Aicpa Statement On Standards In Personal Financial Planning Services No. 1 Apply To A Member?, American Institute Of Certified Public Accountants. Personal Financial Planning Section

Guides, Handbooks and Manuals

No abstract provided.

Preparing For The New Standards In Personal Financial Planning, Clark M. Blackman Ii, Dirk Edwards

Guides, Handbooks and Manuals

This sample article is for use by CPA state societies to help members prepare to implement the Statement on Standards in PFP Services in practice.

Letter From Mary M. Foelster, Cpa, Director, Governmental Auditing And Accounting, To Gilbert Tran, Office Of Federal Financial Management, Office Of Management And Budget, Re: Proposed Revisions To The Data Collection Form (Sf-Sac Or The Form) And Related Form Instructions., Mary M. Foelster, American Institute Of Certified Public Accountants. Governmental Audit Quality Center Executive Committee

Association Sections, Divisions, Boards, Teams

No abstract provided.

Proposed Statement On Standards In Personal Financial Planning Services; Exposure Draft (American Institute Of Certified Public Accountants), 2013, June 11, American Institute Of Certified Public Accountants. Personal Financial Planning Division

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Comment Letters On Statement On Standards In Personal Financial Planning Services, American Institute Of Certified Public Accountants. Personal Financial Planning Division

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

State And Local Governments, March 1, 2013; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Historical Development Of The Financial Reporting Model For State And Local Governments In The United States From Late 1800s To 1999, Terry K. Patton, Paul D. Hutchison

Accounting Historians Journal

This study examines the historical development of the financial reporting model for state and local governments in the United States from the late 1800s through the issuance by the Governmental Accounting Standards Board (GASB) of Statement No. 34 in 1999. This research shows how the current governmental reporting standard evolved over time to meet diverse user needs by presenting both government-wide and fund statements, and requiring three governmental operating statements with potentially three different measurement focuses: the Statement of Activities; the Statement of Revenues, Expenditures, and Changes in Fund Balances; and the Budgetary Comparison Schedule. Overall, this historical study provides …

Further Evidence On The Ability Of Fifo And Lifo Earnings To Predict Operating Cash Flows: An Industry Specific Analysis, Brock Murdoch, Bruce Dehning, Paul Krause

Accounting Faculty Articles and Research

The continuing convergence of U.S. GAAP with International Accounting Standards has brought into question the future use of the LIFO inventory method in the U.S. Since the Financial Accounting Standards Board (2010) has stipulated that earnings should aid investors and creditors in their quest to forecast future cash flows to the enterprise, this research examines whether FIFO earnings or LIFO earnings is preferable, for this purpose, as an aid to ex ante operating cash flow itself,over a three-year forecast horizon. We conclude that ex ante operating cash flows are quite useful in forecasting operating cash flows across industries for up …

Cpa's Guide To Financial And Estate Planning, Sidney Kess, Steven G. Siegel, American Institute Of Certified Public Accountants. Personal Financial Planning Section

Guides, Handbooks and Manuals

No abstract provided.

Government Auditing Standards And Circular A-133 Developments - 2013; Audit Risk Alerts, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Film Financing: Thrilling Scenes And Investing Schemes, Charlotte Moore

Accounting Undergraduate Honors Theses

This thesis discusses investing in independent films and researches whether or not it is a scam by looking at techniques to draw in investors, accounting practices, and professional advice.

State And Local Governments With Conforming Changes As Of March 1, 2012; Audit And Accounting Guide, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

The Party's Over: The Role Of Earnings Guidance In Resolving Sentiment-Driven Overvaluation, Nicholas Seybert, Holly I. Yang

Research Collection School Of Accountancy

This paper shows that an important link between investor sentiment and firm over valuation is optimistic earnings expectations, and that management earnings guidance helps resolve sentiment-driven overvaluation. Using previously identified firm characteristics, we find that most of the negative returns to uncertain firms in months following high-sentiment periods fall within the three-day window around the issuance of management earnings guidance. Comparisons of guidance months to nonguidance months show that guidance issuance affects the magnitude and not just the daily distribution of negative returns. There is also some evidence of negative returns around earnings announcements for firms that previously issued guidance, …

Government Auditing Standards And Circular A-133 Audits, With Conforming Changes As Of February 1, 2012, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Government Auditing Standards And Circular A-133 Developments - 2012; Audit Risk Alert, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Disclosure And Cross-Listing: Evidence From Asia-Pacific Firms, Li Li Eng, Qianhua Ling

Accounting Faculty Research and Publications

Purpose – The purpose of this paper is to examine whether both country disclosure environment and firm-level disclosures are associated with cross-listing in the USA or London or otherwise.

Design/methodology/approach – The authors test the association using a sample of Asia-Pacific firms covered in the Standard and Poor's, 2001/2002 disclosure survey, capturing the country-level disclosure using the Center for International Financial Analysis and Research (CIFAR) score. The firm-level disclosure is measured using the S&P disclosure score. The authors conduct a logistic regression analysis and a two-stage least squares analysis to examine whether the outcome, cross-listing or not, is associated with …

2011 Yellow Book: Independence - Nonaudit Services Documentation Practice Aid, Pak-Aims (American Institute Of Management Sciences)

Guides, Handbooks and Manuals

No abstract provided.

Cpa’S Guide To Developing And Managing A Pfp Practice, American Institute Of Certified Public Accountants. Personal Financial Planning Division

Guides, Handbooks and Manuals

No abstract provided.

Cpa’S Guide To Investment Advisory Business Models: Have You Crossed The Line When Providing Investment Advice?, American Institute Of Certified Public Accountants. Personal Financial Planning Section, Dinsmore & Shohl

Guides, Handbooks and Manuals

No abstract provided.

Cpa’S Guide To Investment Advisory Business Models: Have You Crossed The Line When Providing Investment Advice?, Dinsmore & Shohl

Guides, Handbooks and Manuals

No abstract provided.