Accounting Commons^™

Various Cases Studies On Kraft Heinz, Thomas Sowell, And More, Aidan K. Bitting

Honors Theses

This thesis is composed of various case studies that were completed throughout the course of the Honors Accounting 420 class. Over the course of the school year, these cases covered diverse topics related to accounting and finance. Each case has a different format which requires different solutions. Some cases were focused on the analysis of a 10-K, while other cases were focused on the effects new laws and regulations can have on the way a company conducts business.

Most of the cases were completed in groups. This helped emphasize the importance of teamwork and collaboration. The groups varied case by …

Has The Iasb Successfully Achieved Its Stated Goals? A Literature Synthesis And Theoretical Model, Stephen B. Salter, Hong Kim Duong, Gaurav Gupta

Accounting Faculty Publications

The purpose of this paper is to examine whether the International Accounting Standards Board (IASB) has been successful in achieving its stated objective of enhancing the comparability of financial reports produced across the globe. According to IFRS.org, "IFRS Accounting Standards bring transparency by enhancing the international comparability and quality of financial information, enabling investors and other market participants to make informed economic decisions." To meet our research objective, we summarize the research on international financial reporting standards (IFRS) found in seven relevant ABDC A and A* journals for 2016-2021. Based on the examination of published research, we create a model …

Audit Report Timeliness In Local Governments: An Observation Of North Carolina Governmental Units’ Response To State-Imposed Deadlines And Consequences, Amber N. Daniels

Doctor of Business Administration Dissertations

To provide citizens with transparent financial information regarding the health of their respective districts, local government unit leaders must furnish governmental audit reports in a timely manner. Further, for management to effectively implement auditor suggestions for improvements, leaders must have accessibility to timely audited information. Many governmental units in the state of North Carolina have demonstrated significant lags in reporting timeliness and often miss state-mandated deadlines. Therefore, this research utilized ordinary least-squares regression to estimate the effects the variables representing report message and managerial competency, accountability, and audit environment groups had on the time required for each unit to file …

Financial Statement Analysis Project: "The Big Simulation", Luna Y. Goldblatt, João Branco Chaves, Andrew M. Landman, Salmin B. Mwinjuma, Braden C. Vitelli

Open Educational Resources

This project uses real-world financial statements (for Best Buy Co. Inc. and Nvidia Corporation) and creates a role-playing game where students can choose to be one of 4 capital market participants: an innovator that designs a brand-new accounting system, a company that prepares its best version of financial statements, an investor that chooses its ideal portfolio stocks, and a forensic accountant that looks for evidence of earnings management. The project helps student learn to conduct financial statement analysis and appreciate the impact of these statements on company financial ratios and capital market performance.

Audit Adjustments Matter: What They Reveal About Companies' Financial Reporting, Themin Suwardy, Chu Yeong Lim

Research Collection School Of Accountancy

This study investigates the characteristics, nature and extent of proposed audit adjustments to the financial statements of listed companies in Singapore. Data was gathered from the 2018 to 2020 financial statements of 412 companies, along with views of close to 280 audit committee chairs and heads of finance (or similar designations) on the effectiveness of their companies’ finance function.

Financial Accounting Topics: Cases And Analysis, Charles Boatright

Honors Theses

This thesis consists of twelve individual case studies that analyze issues and topics related to the current financial accounting landscape. These cases take a practical and professional look at financial accounting the real current world, using technical understanding that has been gained throughout the coursework of the Bachelors of Accountancy major as well as professional skepticism and judgement to assess the situations. All of these cases were facilitated by the Patterson School of Accountancy over a year long period. These cases pertain to recent accounting changes such as pensions, the financial implications of recent scandals such as the BP oil …

An Analysis Of Accounting Concepts Through A Comprehensive Series Of Case Studies, Colin Baker

Honors Theses

This thesis is a compilation of 10 case studies completed under the direction of Dr. Victoria Dickinson during the ACCY 420 course over two semesters to satisfy the requirements of the Sally McDonnell Barksdale Honors College. Each case guides the study of different accounting standards. These include topics such as contingent liabilities, retirement obligations, non-GAAP financial reporting, financial statement analysis, and more. The case topics often coincided with subjects that were being covered in intermediate, audit, and tax accounting. These cases provided an opportunity to learn how to do independent accounting research in FASB codification. Each case exposed me to …

Accounting Research And Professional Development, Ragan Riley

Honors Theses

This paper is a compilation of various accounting studies assigned by Dr. Victoria Dickinson throughout a yearlong professional development course for accounting. During each of the twelve cases, the student was required to identify accounting principle problems within the cases, research proper accounting practices, and critically think through how these situations should have been handled in order for these companies to be in accordance with GAAP. There were also cases that facilitated decision making for students in their future career such as location decisions and articles regarding current accounting problems. This course allowed students to network with peers and accounting …

What Else Can Financial Statements Tell You?, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

More Than The Bottom Line, Edmund Keung, Themin Suwardy, Yew Kee Ho

Research Collection School Of Accountancy

In the second instalment of a three-part series on financial literacy, SMU Dean of Postgraduate Professional Programmes and Associate Professor of Accounting (Practice) Themin Suwardy, NUS Associate Professor of Accounting Edmund Keung and SIT Associate Provost and Professor of Accounting Ho Yew Kee discussed three important accounting concepts that investors need to understand in order to know how a company is performing financially.

Deciphering Financial Statements In Annual Reports, Themin Suwardy, Yew Kee Ho, Edmund Keung

Research Collection School Of Accountancy

In the first of a three-part weekly series on financial literacy, SMU Dean of Postgraduate Professional Programmes and Associate Professor of Accounting (Practice) Themin Suwardy, SIT’s Professor Ho Yew Kee and Associate Professor Edmund Keong from NUS discussed the importance of learning to read and analyse financial statements. They opined that being able to decipher financial statements is critical if an investor wants to have a real understanding of a company's profitability, liquidity and cash position. This will equip them with useful information to make informed decisions.

Determinants Of State Audit Delay: An Empirical Analysis, Mary Fischer, Treba Marsh

Faculty Publications

Prior audit delay studies concentrated on municipal government, counties and school districts. This study adds to the literature by examining the determinants of state governments’ timeliness of audit reports. Audit delay determinants found by previous municipal research are used to identify characteristics that may influence state audit delay. This study’s results suggest both agreement and contradiction of prior research audit delay determinants. Financial variables alone do not predict state government audit delay. However, a combination of financial and nonfinancial variables used in municipal audit delay studies do.

[Introduction To] Fundamentals Of Advanced Accounting: Seventh Edition, Joe B. Hoyle, Thomas F. Schaefer, Timothy S. Doupnik

Bookshelf

Fundamentals of Advanced Accounting, 7th edition, is ideal for those schools wanting to cover twelve chapters in their advanced accounting course. This concise text allows students to think critically about accounting, just as they will do preparing for the CPA exam. The text continues to show the development of financial reporting as a product of intense and considered debate that continues today and will into the future.

Principles Of Accounting I, Acc 1101, Course Outline, Rachel Raskin

Open Educational Resources

Principles of Accounting I will introduce the fundamental concepts underlying financial accounting. It will explore the accounting cycle and demonstrate how the financial reporting process is impacted by accounting standards. You will learn to read and understand the financial statements and how proper internal controls are vital for the preparation of accurate and reliable financial information.

Additional Evidence On The Impact Of The International Financial Reporting Standards On Earnings Quality: Evidence From Latin America, Mauricio Melgarejo

Scholarship and Professional Work - Business

The purpose of this paper is to explore whether the adoption of the International Financial Reporting Standards (IFRS) has an impact on the quality of earnings in Latin America. Studying a sample offirms from Argentina, Brazil, Chile, Mexico, and Peru, I find that management reports a lower level of discretionary accruals after the implementation of the IFRS. In addition, this study provides evidence that earnings are more persistent and stock prices are more associated with earning numbers after the application of IFRS. This paper provides evidence that earnings quality has increased after the adoption of IFRS in Latin America.

Cultural Impact Of International Financial Reporting Standards On The Comparability Of Financial Statements, Cassandra L. Ward, S. Keith Lowe

Research, Publications & Creative Work

Due to globalization and expanding international business, it has become necessary for companies in various countries to communicate through a universal language of accounting. International Financial Reporting Standards (IFRS) were developed and issued to serve as a uniform set of accounting standards. A proposed advantage of global implementation is the improved comparability of financial statements. However, due to variations among cultures, it is unrealistic for a single set of standards to be accepted and implemented in a wholly uniform manner to produce innately comparable financial statements. Because of cultural differences, there are varying degrees of IFRS acceptance: some countries adopt …

In Fair Value We Trust, Or Not, Joyce Tang, Nick Leong, Pan, Gary, Keng Kevin Ow Yong, Chu Yeong Lim, Tee Yong Jeffrey Ng

Research Collection School Of Accountancy

The objective of financial reporting is to provide financial information that is useful to existing and potential investors, lenders and other creditors (IASB’s Conceptual Framework ED/2015/3). General purpose financial reports provide information about the financial position of a reporting entity, as well as information about the effects of transactions and other events that will change a reporting entity’s economic resources and claims (para 1.12 ED/2015/3). Investor confidence and trust in the financial statements is a crucial component for financial markets to function smoothly. This report presents the attitudes and concerns of over 700 respondents toward fair value accounting. The survey …

A Case Study In The Use And Potential Misuse Of Non-Gaap Financial Measures, Benoit Boyer, Ralph Lim, Bridget M. Lyons

WCBT Faculty Publications

Firms reporting under US GAAP are allowed to supplement financial information with non-GAAP measures. We examined 6 Firms in the chemical industry and looked at what information was presented (Dow, Du Pont, Monsanto, FMC, PPG, Praxair). We use the 2014 Annual Report so that we would have comparable data for all companies. For 2 firms we looked at numbers presented in Cap IQ and in Bloomberg and compared them to the numbers presented by the company (Dow and Du Pont). The numbers reported by the firms and the analysts differed greatly.

Narrowing The Gap Of Financial Fraud Detection In Corporations, Solomon Aborbie

Walden Dissertations and Doctoral Studies

Business leaders remain exposed to financial and accounting fraud as well as loss of profitability, despite the dictates of the SOX Act of 2002. The most challenging aspect of corporate management is the unexpected nature of an emerging, existing, or an inherent financial risk. Guided by the evolution of fraud theory, this exploratory case study's purpose was to identify and explore the financial management strategies that corporate financial managers need to adequately protect investors. Twenty participants from a population group of corporate auditors of Fortune 1000 corporations within 70 miles of Columbus, Ohio provided input for this study. Data from …

Kajian Teoritis Atas Harmonisasi Antara Keseragaman (Uniformity) Praktik Akuntansi Komersial Dan Fiskal Dalam Perusahaan Perbankan Indonesia, Arie Widodo, Erwin Harinurdin

Jurnal Vokasi Indonesia

No abstract provided.

Review Of Financial Intelligence For Entrepreneurs: What You Really Need To Know About The Numbers By Karen Berman And Joe Knight, With John Case., H. L. Vacher

Numeracy

Berman, Karen and Knight, Joe, with John Case. Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers, (Boston MA: Harvard Business Press, 2008). 285 pp. ISBN 978-1-4221-1915-0.

From “The art of finance (and why it matters)” (Part One) through “Creating a financially intelligent company” (Part Eight), Financial Intelligence for Entrepreneurs is an engaging explanation and appreciation of financial statements and financial ratios. Short, easily digested chapters; just-in-time boxes to introduce terminology; easy, direct, in-text calculations from bare-bones, hypothetical financial statements to illustrate concepts; a 44-page appendix of crafted exercises on the income statement, balance sheet, …

Financial Literacy And The Success Of Small Businesses: An Observation From A Small Business Development Center, Pearl Dahmen, Eileen Rodríguez

Numeracy

Small business is the backbone of the U.S. economy; when the financial literacy skills of entrepreneurs fall short of those needed to operate a successful business, it is more than the individual business at risk. In 2012, 14 small businesses requesting growth-acceleration consulting services from the Florida Small Business Development Center at the University of South Florida were assessed financially as part of the service provided by the Center. Financial ratios were used to analyze the business’s financial condition. While performing the financial analysis of these firms, we also surveyed the business owners to determine their level of financial understanding …

Audit Quality And Subsidiary Audits, Jeremiah Bentley, Dr. Steven Glover

Journal of Undergraduate Research

International and national accounting standard setters have spent significant amounts of time discussing and making rules about the consolidation of company’s financial statements (ASB 2009; PCAOB 2008, 2010; IAASB 2007; FASB 2010). One of the focuses of these discussions is how auditors should respond to the consolidation process when performing group audits (Glover et al. 2008). A group audit is an audit performed on an entity with multiple locations or components, with separately audited financial information included in consolidated or group financial statements (Glover et al. 2008). While previous research has examined how the consolidation process affects the financial statement …

Governance Of Financial Reporting, Poh Sun Seow, Gary Pan

Research Collection School Of Accountancy

No abstract provided.

Comment Letter From Richard Paul, Chairman, Financial Reporting Executive Committee (Finrec), And Linda Bergen, Chairman, Financial Instruments Task Force, To Susan Cosper, Technical Director, Financial Accounting Standards Board, Re: File Reference No. 2013-220 - Proposed Accounting Standards Update, Financial Instruments--Overall Recognition And Measurement Of Financial Assets And Financial Liabilities (Subtopic 825-10)., Richard Paul, American Institute Of Certified Public Accountants. Financial Reporting Executive Committee

Association Sections, Divisions, Boards, Teams

No abstract provided.

Boise State On Business: These Tools Can Help Make The Most Of Profit And Loss Data, Michael Lee, Michael Wright

Accountancy Faculty Publications and Presentations

Companies invest heavily in creating the traditional profit and loss statement because it is a periodic requirement that measures business performance. The problem is that management is framed into thinking about summarized information, routine reporting and often irrelevant historical performance. Rather than treat it like a mandatory reporting necessity, a periodic photograph of the past that reminds them of what once was, we suggest that companies exploit this versatile tool by adding our three applications that will provide insights into what can be.

Letter From Karen Kerber, Chair, Pcps Technical Issues Committee, To Susan M. Cosper, Cpa, Technical Director, Financial Accounting Standards Board, Re: February 14, 2013 Exposure Draft Of A Proposed Accounting Standards Update (Asu), Financial Instruments-Overall (Subtopic 825-10): Recognition And Measurement Of Financial Assets And Financial Liabilities [File Reference No. 2013-220] And Re: April 12, 2013 Exposure Draft Of A Proposed Accounting Standards Update (Asu), Financial Instruments-Overall (Subtopic 825-10): Recognition And Measurement Of Financial Assets And Financial Liabilities-Proposed Amendments To The Fasb Accounting Standards Codification [File Reference No. 2013-221], Karen Kerber, American Institute Of Certified Public Accountants. Pcps Technical Issues Committee

Association Sections, Divisions, Boards, Teams

No abstract provided.

Accounting For Agricultural Products: Us Versus Ifrs Gaap, Treba Marsh, Mary Fischer

Faculty Publications

Currently there is a mix of accounting guidance for agriculture producers in the US that is both GAAP including Accounting Statement Codification 905 and non-GAAP financial guidelines. Should the US adopt International Financial Reporting Standards (IFRS), this guidance would be replaced with International Accounting Standard (IAS) 41 – Agriculture.

This study identifies systematic differences between the US and International accounting and reporting for agricultural assets and products. The study also finds that international and US agricultural accounting recognition and reporting guidance result in dissimilar reporting due to guidance interpretation. Valuation variances and definition differences including the requirement to change the …

Determinants Of Financial Restatement : Does The Ceo-Board Relationship And Ceo Compensation Influence The Risk Of Financial Restatement?, Kimberly A.M. Melinsky

Legacy Theses & Dissertations (2009 - 2024)

The cataclysmic business failures of the past decade clearly outline the necessity for effective governance research and policy. These failures have prompted prominent investors, politicians, and researchers to show an ever-increasing interest in corporate fraudulent activity and its relationship to executive compensation packages and the CEO-board relationship. Further research is needed to better understand these relationships, especially the relationship between governance mechanisms and their influence on financial restatement, an outcome of fraud. This study looks to answer that need by examining the CEO-board relationship, as well as CEO compensation components, the combined effects of CEO compensation and CEO-board relationship variables, …

Fair Value Measurements, Nathan Hatch Cannon

2013

This dissertation consists of two empirical studies that investigate fair value measurement issues currently facing the accounting profession--one from the perspective of the auditor, and the other from the perspective of the financial statement user. The results of each study are described below.

This first study examines experienced auditors' descriptions of specific client experiences in which auditing fair value measurements (FVMs) was particularly challenging. Based on a field survey of high-level engagement team personnel from several large firms, we identify a number of key issues currently facing the profession in auditing FVMs. First, when asked about challenges faced in auditing …