Accounting Commons^™

Can Utility-Maximization Models Assist With Retirement Planning?, Zaki Khorasanee

Journal of Actuarial Practice (1993–2006)

Utility-maximization models for optimizing portfolio choices can be subdivided into two classes: those based on maximizing the expected utility of lifetime consumption and those based on maximizing the expected utility of retirement wealth. It is argued that the first type of model, which optimizes both saving and investment decisions, is difficult to apply in practice because of inadequate (or unreliable) information about individual preferences. Although the second type of model only optimizes investment decisions, it is of greater practical value because fewer data on individual preferences are required. The second type of model is used to derive formulae for the …

Some Comments On The Pricing Of An Exotic Excess Of Loss Treaty, Jean-Francois Walhin

Journal of Actuarial Practice (1993–2006)

This paper uses a multivariate analog of Panjer's algorithm to develop a method for pricing a complex excess of loss treaty. The treaty is such that some layers inure to the benefit of other layers. The structure of this treaty is discussed. Numerical examples are provided.

Communicating Effectively With Words, Numbers, And Pictures: Drawing On Experience, Karolina Duklan, Michael A. Martin

Journal of Actuarial Practice (1993–2006)

In this paper, we discuss techniques for developing effective communication skills, focusing in particular on technical writing, the use of graphics, and presentation. The key principles of effective communication that we propose to actuaries are as follows:

• Identify your audience and consider their needs and abilities;

• Focus on substantive content;

• Choose appropriate communication tools;

• Use language that is simple, concrete, and familiar;

• Integrate text, numbers, and graphics;

• Respond to information complexity creatively.

We focus in particular on the use of graphics as a communications tool as they are an efficient and potentially highly effective …

Further Remarks On Risk Sources Measuring: The Case Of A Life Annuity Portfolio, Mariarosaria Coppola, Emilia Di Lorenzo, Marilena Sibillo

Journal of Actuarial Practice (1993–2006)

The paper considers a model that allows the actuary to measure the riskiness connected to the randomness of projected mortality tables in evaluating a portfolio of life annuities, obtaining a measure to reflect the risk associated with the randomness of the projection. The coherence of the risk parameters with the specific nature of the considered risk sources is also discussed. Numerical examples illustrate the results, showing the importance of the risk components in terms of the number of policies and comparing measure tools obtained by means of two procedures.

A Note On The Parallelogram Method For Computing The On-Level Premium, David P.M. Scollnik, Wai Man Sara Lau

Journal of Actuarial Practice (1993–2006)

This paper discusses the differences appearing in the descriptions of the parallelogram method for the determination of earned premium at current rate levels given by McClenahan (1996) and Brown and Gottlieb (2001). It observes that the former is consistent with the method of extending exposures while the latter is not. An illustration is provided. This paper also discusses two other approaches to the determination of the earned premium.

Dynamic Funding And Investment Strategy For Defined Benefit Pension Schemes: A Model Incorporating Asset-Liability Matching Criteria, Shih-Chieh Chang, Cheng-Hsien Tsai, Chia-Jung Tien, Chang-Ye Tu

Journal of Actuarial Practice (1993–2006)

This paper studies the dynamic funding policy and investment strategy for defined benefit pension plans using one of the most comprehensive dynamic pension models to date. The model includes three investable assets: one risk free and two risky. The optimal plan decisions are formulated as a stochastic control problem that is solved using dynamic programming. The objective function uses performance measures to take into account the stability and solvency of the plan. The model is then applied to a Taiwanese pension.

Aicpa Annual Report 2001-02 ; Each Day, Every Day ... Cpas Are Here, American Institute Of Certified Public Accountants

AICPA Annual Reports

No abstract provided.

Banks, Credit Unions, And Other Lenders And Depository Institutions Industry Developments - 2002-03; Audit Risk Alerts, American Institute Of Certified Public Accountants

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Health Care Industry Developments - 2002/03; Audit Risk Alerts, American Institute Of Certified Public Accountants. Auditing Standards Division

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Strategic Enterprise Management Systems : Tools For The 21st Century, M. Fahy

Guides, Handbooks and Manuals

No abstract provided.

Accounting And Auditing Update, Supplement Fall 2002, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Annual Update For Accountants And Auditors, Ron Carlson

Guides, Handbooks and Manuals

No abstract provided.

Aicpa News Alert: Advance Copy To Staff Of Member Letter Regarding Passage Of Sox And The Accounting Profession, 2002., James G. Castellano, Barry C. Melancon

Guides, Handbooks and Manuals

No abstract provided.

Business Systems Project Update., Clarence Davis

Guides, Handbooks and Manuals

No abstract provided.

New Standards, New Services : Implementing The Attestation Standards; Aicpa Practice Aid Series;, Michael J. Ramos, Leslye Givarz

Guides, Handbooks and Manuals

No abstract provided.

Understanding And Implementing Ssars No. 8; Aicpa Practice Aid Series;, J. Russell Madray, Leslye Givarz

Guides, Handbooks and Manuals

No abstract provided.

Cpa Eldercare : A Practitioner's Resource Guide;, Jay H. Kaplan, Pamela W. Kaplan, Julie Gould

Guides, Handbooks and Manuals

No abstract provided.

Cpa's Guide To Accounting, Auditing, And Tax For Construction Contractors;, Michael J. Ramos

Guides, Handbooks and Manuals

No abstract provided.

Reauditing Financial Statements; Practice Alert 02-3, American Institute Of Certified Public Accountants

Guides, Handbooks and Manuals

No abstract provided.

Seven Principles For Effective Firm Management, J. Curt Mingle, American Institute Of Certified Public Accountants. Pcps Management Of An Accounting Practice Committee

Guides, Handbooks and Manuals

No abstract provided.

Nine Steps To Reduce Financial Statement Fraud, American Institute Of Certified Public Accountants. Board Of Directors

Guides, Handbooks and Manuals

No abstract provided.

Directory Of Accounting Faculty For The Academic Year 2002-2003, James R. Hasselback

Individual and Corporate Publications

No abstract provided.

Audits Of Federal Government Contractors With Conforming Changes As Of May 1, 2002; Audit And Accounting Guide:, American Institute Of Certified Public Accountants. Government Contractors Guide Special Committee

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Audits Of State And Local Governments (Gasb 34 Edition) Issued September 1, 2002; Audit And Accounting Guide:, American Institute Of Certified Public Accountants. Government Accounting And Auditing Committee

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Checklists And Illustrative Financial Statements For Corporations, A Financial Accounting And Reporting Practice Aid, January 2002 Edition, American Institute Of Certified Public Accountants (Aicpa)

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Guide For Prospective Financial Information With Conforming Changes As Of May 1, 2002; Audit And Accounting Guide:, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Conforming Changes Task Force

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Checklists And Illustrative Financial Statements For Corporations : A Financial Accounting And Reporting Practice Aid, December 2001 Edition, American Institute Of Certified Public Accountants. Accounting And Auditing Publications, Robert Durak

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Checklists And Illustrative Financial Statements For Property And Liability Insurance Companies : A Financial Accounting And Reporting Practice Aid, October 2002 Edition, American Institute Of Certified Public Accountants. Accounting And Auditing Publications, Lori A. West

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Consideration Of Fraud In A Financial Statement Audit; Statement On Auditing Standards, 099, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee

Statements on Auditing Standards

Statement on Auditing Standards (SAS) No. 1, Codification of Auditing Standards and Procedures (AICPA, Professional Standards, vol. 1, AU sec. 110.02, "Responsibilities and Functions of the Independent Auditor"), states, "The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud. [footnote omitted]" This Statement establishes standards and provides guidance to auditors in fulfilling that responsibility, as it relates to fraud, in an audit of financial statements conducted in accordance with generally accepted auditing standards (GAAS).

Validation Of Annagnps At The Field And Farm-Scale Using An Integrated Agnps/Gis System, Glenn M. Suir

LSU Master's Theses

Non-Point Source (NPS) pollution models are effective watershed-scale predictors of NPS loadings and useful evaluators of agricultural Best Management Practices (BMPs) and water quality Total Maximum Daily Loads (TMDLs). The work reported in this thesis examined two applications of the AGricultural Non-Point-Source (AGNPS) pollution model: 1) predicting surface runoff, nutrient loading, and sediment yield predictions for an artificially delineated farm-scale watershed; and 2) evaluating relative benefits of different BMPs on reducing sediment accumulation in a lake surrounded by agricultural land. A procedure using identification, extraction, and processing of critical area data using an ArcView Geographic Information System (GIS) was used …