Accounting Commons^™

Accounting Doctoral Program Rankings Based On Research Productivity Of Program Graduates, Nathaniel M. Stephens, Scott L. Summers, Brady Williams, David A. Wood

Faculty Publications

This paper presents rankings of accounting doctoral programs based on the research productivity of each institution’s graduates in the years immediately following their graduation. We use two time periods for analysis: the first three years after graduation and the first six years after graduation. We extend previous doctoral program ranking literature by expanding rankings of accounting doctoral programs with specific rankings for topical areas (accounting information systems (AIS), audit, financial, managerial, and tax) and methodologies (analytical, archival, and experimental). We show that rankings for topical and methodological areas differ significantly from rankings produced using methodologies that create a singular doctoral …

Should Investors Follow The Prophets Or The Bears? Evidence On The Use Of Public Information By Analysts And Short Sellers, Michael S. Drake, Lynn Rees, Edward P. Swanson

Faculty Publications

We investigate whether short sellers and analysts differ in their use of information that is predictive of future returns. We find that open short interest is significantly associated in the expected direction with all eleven variables examined. In contrast, analysts tend to positively recommend stocks with high growth, high accruals, and low book-to-market ratios, despite these variables having a negative association with future returns. We then investigate the profitability of using short interest in trading. We find abnormal returns (1.11 percent per month) from a zero-investment strategy that (1) shorts firms with highly favorable analyst recommendations (buy signal) but high …

Analysts’ Accrual-Related Over-Optimism: Do Analyst Characteristics Play A Role?, Michael S. Drake, Linda A. Myers

Faculty Publications

Bradshaw, Richardson, and Sloan (2001) find that analyst forecast over-optimism is greater for firms with high accruals. This “accrual-related over-optimism” is generally interpreted as evidence that analyst forecasts do not fully incorporate predictable earnings reversals associated with high accruals. We investigate whether analyst experience, access to resources (brokerage size), and portfolio complexity moderate the relation between over-optimistic forecasts and high accruals. We demonstrate the robustness of accrual-related over-optimism to controls for cash flow and prior forecast errors. We find that accrual-related over-optimism is lower for analysts with greater general experience and for analysts following fewer firms but find only limited …

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 …

Past Financial Reporting Credibility: Does It Influence Market Perceptions Of Fair Value Assets?, Jason M. Rehhaut

CMC Senior Theses

During the financial crisis, many assets became illiquid and ceased trading on the open market, thus classifying them as level three assets. This study attempts to determine whether fair value asset disclosures, especially level three assets, were viewed by the market as valued correctly, given the amount of subjectivity involved. This paper will discuss prior literature on the topics of fair value accounting, various earnings quality measures, and corporate governance impact on fair value disclosures. Using models similar to prior papers, many of the coefficients of interest proved insignificant. However, the models improved when examining only the least credible firms.

The Impact Of The Foreign Corrupt Practices Act On American Business From 1977-2010, Ajani Harris

CMC Senior Theses

This paper seeks to present the moral and ethical frameworks in which to consider the effect of bribing on business and the great community; confront the cultural differences that lie between American businesses and its potential interest abroad, as well as the growing international move to implementation similar to that of the FCPA; analyze prior anti-bribery legislation and the historical events that prompted the need for a policy like the FCPA, discuss the basic elements of the policy’s two pronged approach of anti-bribery and disclosure regulation; examine several cases in the enforcement of the FCPA on American businesses; and consider …

Determinants Of Corporate Cash Holdings, Yun Lai (William) Li

CMC Senior Theses

The paper explores the driving forces behind corporate cash holdings by analyzing past literature and extending this research to the behavior of firms after the 2008 recession. I look at the cash to assets and net debt to assets ratios from October 1980 to October 2011 to obtain an understanding of the past and current state of cash holdings. A comprehensive literature review is done on agency costs and transactional motives to give the reader an overview of the costs and benefits of holding cash. This provides the foundation for the precautionary motives for companies today to keep cash as …

Ethics In Accounting: Sustainability As A Predictor Of Financial Statement Usefulness, Kyle L. Shipley

CMC Senior Theses

This paper examines the impact of ethics on financial statement usefulness in 120 publicly traded companies. Because ethics are difficult, if not impossible, to quantify, Corporate Social Responsibility ratings are used as a proxy. The potential implications of this study are vast, though the main idea is that investors would be able to make better financial decisions should the hypothesis come to fruition. Contrarily, investors will also be able to avoid potentially bad investments if they can ascertain certain companies that lack ethical values. In this paper, I will discuss several facets of corporate ethics such as creative accounting in …

The Effect Of Culture On The Implementation Of International Financial Reporting Standards, Mitchell A. Skotarczyk

CMC Senior Theses

As globalization increases at a blistering pace, more and more business entities continue to get involved in cross-border capital investments. A considerable cost can be applied to these types of transaction for the translation of financial statements prepared under dissimilar accounting guidelines into a comparable form. There exist a multiple number of accounting systems that create these dissimilarities, because accounting is a language of business that has been created by society to provide information as to the economic health of an entity. Similar to any other language, varying types of “accounting language” are used across different regions of the globe …

Market Value Vs Historical Cost Valuations Of Fixed Assets In The Context Of International Convergence, Alexander Y. Varga

CMC Senior Theses

The purpose of this paper is to discuss the differences between accounting for fixed assets under IFRS and U.S. GAAP.  Primarily the discussion will be driven by the question: which standard should the FASB lobby for in its joint effort with the IASB to converge U.S. GAAP with IFRS?  The paper will start by establishing that financial reporting, as it has evolved in the United States, was developed primarily to assist in the accountability relationships between management and both credit and equity investors.  From there the paper will look at which standard is better suited to fulfill this goal and …

Proposed Statement On Auditing Standards, Alert As To The Intended Use Of The Auditor’S Written Communication, December 21, 2010, Comments Are Requested By April 29, 2011; Exposure Draft (American Institute Of Certified Public Accountants), 2010, December 21, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Auditing Standards, Alert As To The Intended Use Of The Auditor’S Written Communication, December 21, 2010, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Ua4/1 Acadmic Budgets & Administration - Reports, Wku Archives

WKU Archives Collection Inventories

Reports created by the office of Academic Budgets & Administration and its reporting offices:

• Academic Budgets
• Manager of Academic Resources
• PIE Grants Coordinator

Includes operating budgets and salary reports.

An Evaluation Of Fin 48 And Its Effect On Local Companies, Megan Bahr

Honors Projects

No abstract provided.

Harley-Davidson, Inc.: A Strategic Audit, Sheila Lenz

Honors Theses

Thesis presents a strategic audit to assess the strategy of Harley-Davidson, Inc. Includes financial information, risks and strategies, and marketing information.

The Abcs Of Communicating Results, Deborah S. Archambeault, Morgen Rose

Accounting Faculty Publications

Communicating results is an integral part of the internal auditor's job, and The IIA's International Standards for the Professional Practice of Internal Auditing recognizes its importance by specifying in Standard 2420 that communications should be "accurate, objective, clear, concise, constructive, complete, and timely." In its 2009 survey. The Biggest Internal Audit Challenges in the Next Five Years, Protiviti, a global consulting firm, ranked communication with management and the audit committee as one of the biggest challenges facing internal auditing through 2012. Their subsequent 2010 Internal Audit Capabilities and Needs Survey identified presentation skills as the top "need to improve" personal …

Cpa Client Bulletin, December 2010, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Tax Reform In Rhode Island: Developing A High Quality Revenue Stream, Nicholas A. Denice

Honors Projects in Accounting

The present study explores the current state of taxation in Rhode Island in relation to its sales tax. An analysis of the literature will examine how the current sales tax system compares with other alternatives and if it hurts the state's economic competitiveness as shown in tax burden studies. Using Rhode Island tax data from the Annual State Audit and Consumer Expenditure Survey, this study will analyze the current sales tax system in the state and determine whether an alternative model would lead to a higher-quality revenue stream. Data from the State of Rhode Island General Audit Report and the …

Business Process Automation And Managerial Accounting: An Sap Plug And Play Module (Final Report), Picheng Lee, Principal Investigator, Christian N. Mady, Rudy Jacob, Chu-Hua Kuei

Cornerstone 3 Reports : Interdisciplinary Informatics

The primary aim of our project is to develop an Enterprise Resource Planning (ERP) platform that enables students at Pace to understand how different interdisciplinary areas in cross-unit and/or cross-enterprise decision making are related. ERP can help us do this since it allows a firm to automate and integrate its business processes, share common data and practices across the entire enterprise, and provide and access information in a real-time environment.

Two Essays On The Accounting Treatment For Information Technology Expenditures, Kimberly Swanson Church

Graduate Theses and Dissertations

The current accounting measurement and reporting system is ill-equipped to provide intangible investment information that is decision useful for stakeholders in the information economy. Potentially relevant intangible items are not reported on the balance sheet, since current standards mandate the immediate expensing of these intangible items. Presumably FASB's uncertainty with the fundamental issues of extent and timing of future benefits to the firm has led to concerns with relevance, reliability, and objectivity of capitalizing some intangibles, which results in potential long term value generating expenditures being immediately expensed on the income statement. Prior research has demonstrated extent and timing of …

Why 'Democracy' And 'Drifter' Firms Can Have Abnormal Returns: The Joint Importance Of Corporate Governance And Abnormal Accruals In Separating Winners From Losers, Koon Boon Kee

Research Collection School Of Accountancy

No abstract provided.

Proposed Statement On Standards For Accounting And Review Services: The Use Of The Accountant’S Name In A Document Or Communication Containing Unaudited Financial Statements That Have Not Been Compiled Or Reviewed, November 30, 2010, Comments Are Requested By April 29, 2011; Exposure Draft (American Institute Of Certified Public Accountants), 2010, November 30, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Statement On Standards For Accounting And Review Services: The Use Of The Accountant’S Name In A Document Or Communication Containing Unaudited Financial Statements That Have Not Been Compiled Or Reviewed, November 30, 2010, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Letter From Robert W. Cook, Director, Division Of Trading And Markets, Sec, And James L. Kroeker, Chief Accountant, Office Of The Chief Accountant, Sec, To Stephen Zammitti, Chair, Aicpa Stockbrokerage And Investment Banking Expert Panel, Re: Requirements For Broker-Dealer Annual Audits Pursuant To Rule 17a-5 Under The Securities Exchange Act Of 1934., Robert W. Cook, James L. Kroeker, United States. Securities And Exchange Commission

Association Sections, Divisions, Boards, Teams

No abstract provided.

Auditing Standards Board (Asb) Meeting, November 15, 2010, Conference Call; Highlights (Asb) Meeting, November 15, 2010, American Institute Of Certified Public Accountants. Auditing Standards Board

Association Sections, Divisions, Boards, Teams

No abstract provided.

Proposed Revised Statement On Auditing Standards, Financial Statements Prepared In Accordance With A Financial Reporting Framework Generally Accepted In Another Country, November 9, 2010, Comments Are Requested By January 31, 2011; Exposure Draft (American Institute Of Certified Public Accountants), 2010, November 9, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letters On Proposed Revised Statement On Auditing Standards, Financial Statements Prepared In Accordance With A Financial Reporting Framework Generally Accepted In Another Country, November 9, 2010, Comments Are Requested By January 31, 2011, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Private Banking In Asia: Going Beyond Trust And Confidence, Knowledge@Smu

Knowledge@SMU

Asia's private banking industry is expected to expand in the near future, and all signs point to greater competition amongst existing markets and wealth management entities. The nature of the financial service, however, remains rather interpersonal. Private bankers work almost exclusively with sophisticated, high net worth individuals. Long term survival, for them, means sticking with high value clients over the long haul, over and above sticking it out with the institutes that back those financial services. What might this spell for the market? SMU's Ang Ser-Keng asked industry experts through a series of interviews.

Developing A Culturally Responsive Classroom Collaborative Of Faculty, Students, And Institution, Paul J. Colbert

MBA Faculty Conference Papers & Journal Articles

Culture is integral to the learning process. It is the organization and way of life within the community of students and teachers and directs the way they communicate, interact, and approach teaching and learning. Although founded in particular values and principles, the academy, like most organizations, is impacted day-to-day by its culture. Yet, the traditional higher education institution has not been designed to operate within a racially or ethnically diverse student population. The social, political, economic, and cultural forces that support the institution influence the teaching and learning environments. To better address cultural diversity in the classroom, faculty must first …

Cpa Client Bulletin, November 2010, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.