Accounting Commons^™

Cpa Client Bulletin, August 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Pcaob Inspections: Perceptions Of Triennial Firms With No-Deficiency Inspections, Bernard H. Newman, Mary Ellen Oliverio

Faculty Working Papers and Articles

The drive to enhance audit quality after the cascade of audit failures in the final decades of the last century and first two years of the new century resulted in a new structure for the oversight of public accounting firms. The Public Company Accounting Oversight Board (PCAOB) was established with the passage of the Sarbanes-Oxley Act of 2002. This Board was given the authority to inspect all public accounting firms who provide audits to publicly-owned companies reporting to the Securities and Exchange Commission. Such public accounting firms were required to register with the PCAOB. Accounting firms who audit more than …

How The Madoff Fraud Could Affect Your Cpa Practice, Stephen Scarpati

WCBT Faculty Publications

With an estimated $65 billion lost from trust funds, retirement plans, pensions, investment funds, inheritance monies, and nonprofit organizations, many people have been adversely affected by the Ponzi scheme perpetrated by Bernard L. Madoff. When you combine a lot of lost money with a lot of angry people, the result is a lot of lawsuits. The breadth of those lawsuits will encompass all associated with the affected organizations--including CPAs. Those messages were loud and clear at the May 27, 2009, breakfast symposium "Are CPAs the Next Madoff Victims? The Accountant's Liability," sponsored by The CPA Journal.

Testing The Financial Literacy And Expertise Of Audit Committee Members, Don E. Giacomino, Michael D. Akers, Joseph Wall

Accounting Faculty Research and Publications

No abstract provided.

A Survey Of The Oversight Of External Auditors Through The Lenses Of Audit Committee Chairmen, See Liang Foo, Luck Pia Ng, Kwong Sin Leong, Yang Hoong Pang

Research Collection School Of Accountancy

No abstract provided.

Comment Letter: Aicpa Accounting Standards Team Feedback On Joint Fasb/Iasb (Boards) Discussion Paper, Preliminary Views On Revenue Recognition In Contracts With Customers., Kim Kushmerick, Don Noll

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Comment Letter: Aicpa Accounting Standards Executive Committee (Acsec) Comment On Joint Fasb/Iasb Discussion Paper, Preliminary Views On Revenue Recognition In Contracts With Customers., American Institute Of Certified Public Accountants. Accounting Standards Executive Committee, Jay D. Hanson, Glenn Bradley

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Research On The Cost Control System Of Sq Corporation, Yang Zhao

World Maritime University Dissertations

No abstract provided.

Cpa Client Bulletin, July 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

Ownership, Institutions, And Capital Structure: Evidence From China, Kai Li, Heng Yue, Longkai Zhao

Research Collection School Of Accountancy

We employ a unique data set to explore the role of ownership structure and institutional development in debt financing of non-publicly traded Chinese firms. We show that state ownership is positively associated with leverage and firms’ access to long-term debt, while foreign ownership is negatively associated with all measures of leverage. Surprisingly, firms in better developed regions are associated with reduced access to long-term debt, suggesting the availability of alternative financing channels and the tightening of the lending standards under the on-going banking reform. The combination of ownership structures and institutions explains up to 6% of the total variation in …

The Impact Of Selected Corporate Governance Variables In Mitigating Earnings Management In The Philippines, Mc Reynald S. Banderlipe Ii

DLSU Business & Economics Review

Given the increasing importance of corporate governance in the Philippines, this study attempts to explain the role of selected governance variables related to a company’s board of directors in mitigating earnings management in the country. Using the financial statements of publicly listed companies and a modified measurement model, the findings revealed that the holding of multiple directorial positions by the independent directors, and the managerial ownership of the board are significant enough to limit the incentives for earnings management. Moreover, firm size and return on assets were identified to have explanatory significance among the controlling factors.

Towards An Innovation Model In Teaching Management, Ernesto L. Bumatay

DLSU Business & Economics Review

This study discusses an innovation to management teaching called Learning-Activity-Based Experience Model (LAB-E Model). The perspective is that the entire learning process in a course will be experienced through sets of activities designed by the faculty. These sets or clusters of problems and activities are unique to the contents and objectives of the course as well as to the varying needs and capabilities of the students. Through management activities created and designed by the faculty, learning takes place. This innovative teaching model incorporates other common teaching methodologies which include small group presentation, facilitated discussion of cases, and lecture-discussion approach.

Input-Ouput Analysis Of The Key Sectors In Philippine Carbon Dioxide Emissions From A Production Perspective, Rachel C. Reyes

DLSU Business & Economics Review

The study computes the carbon dioxide emissions of the Philippines for the period of 2000 to 2006 and applies a production perspective input-output analysis to identify the key sectors whose value-added growth were responsible for the increase in emissions of the country and those that exhibited increased sectoral emissions from overall income growth. Power generation turned out to be the primary sector while cement manufacture, wholesale/retail trade, mining, road and water transport, and private services were revealed as the secondary sectors, jointly accounting for 0.66% increase in the country’s emissions from a 1% growth in their valueadded and experiencing 0.75% …

Perceived Organizational Effectiveness Of Labor Unions In The Banking, Hotel, And Manufacturing Industries, Divina M. Edralin

DLSU Business & Economics Review

To determine the extent of influence of the organization’s context and structure factors on the perceived effectiveness of labor unions in the banking, hotel, and manufacturing industries in the National Capital Region, 88 local unions consisting of 772 rank-and-file and supervisory union members from 82 firms were covered. It is evident from the results that the level of union effectiveness as perceived by the members is a function of two major organizational factors, namely, context and structure. Moreover, there are significant differences in the average level of effectiveness rating of unions per industry.

Law Making In The Guise Of Procedures: Placing Hurdles To The Right Of Appeal To The National Labor Relations Commission, Emmanuel O. Sales

DLSU Business & Economics Review

It is a legal given that the power to make laws or new norms lies with Congress and this power, granted by the Constitution, cannot be shared with or should not be encroached upon by another branch of government or an instrumentality of a branch. Rule making to implement the law or the promulgation of procedures to establish the process of enforcing rights is not always done subordinate to or in accordance with law. This study posits that the 2005 Rules of Procedure of the National Labor Relations Commission, specifically on the requirements for taking an appeal, is a case …

Innovation Process And Performance In Small- To Medium-Sized Firms: A Conceptual Framework, Edgardo S. Bolinao

DLSU Business & Economics Review

This study maps out the innovation process in Small and Medium Enterprises (SMEs) that can fundamentally affect business performance. The development of the conceptual framework can be used to encourage and enhance successful innovation management for SMEs. Overall, effective innovation is based on managing this process as a whole and on building up capacity and competency at each stage in the innovation. The framework put forth in this study is being proposed to be used as template for the development of a management development program for SMEs’ owner-managers and as a practical tool for diagnosing SMEs’ support systems.

What Is “The Learning Filipino Firm”?, Raymund B. Habaradas

DLSU Business & Economics Review

“The learning Filipino firm” can be classified into three types, namely the reactive firm, which is a reluctant learner; the adaptive firm, which is an eager learner; and the generative firm, which is a dynamic learner. This typology is based on the hypothesis that a firm’s learning style and its innovative capability is influenced by its organizational design. Among the key dimensions that must be considered are as follows: (a) organizational strategy, (b) organizational structure, and (c) organizational culture. These dimensions are closely intertwined, and, therefore, collectively influence a firm’s ability to constantly renew itself.

Forensic Auditing: An Essential Tool In The Fights Against Fraud And Corruption In Kosovo, Nicholas M. Zacchea

Business: Faculty Presentations

INTRODUCTION: IT IS AN HONOR FOR ME TO BE INVITED HERE TODAY AND TO HAVE AN OPPORTUNITY TO PARTICIPATE IN DISCUSSING THIS VERY IMPORTANT TOPIC OF FORENSIC AUDITING AND ITS ROLE IN COMBATING CORRUPTION.

CORRUPTION IS SOMETHING THAT TOUCHES THE LIVES OF EVERY ONE OF US. IT HAS A DAMAGING IMPACT ON THE WAY IN WHICH WE LIVE, NOT ONLY HERE IN KOSOVO BUT IN EVERY OTHER COUNTRY IN THE WORLD.

I HOPE TO HELP YOU BETTER COMPREHEND THE INSIDIOUS NATURE OF CORRUPTION AND THE DEVASTATING IMPACT IT HAS ON EVERYONE’S LIVES.

Cpa Client Bulletin, June 2009, American Institute Of Certified Public Accountants (Aicpa)

Newsletters

No abstract provided.

The Predictive Content Of Aggregate Analyst Recommendations, John S. Howe, Emre Unlu, Xuemin (Sterling) Yan

Department of Finance: Faculty Publications

Using more than 350,000 sell-side analyst recommendations from January 1994 to August 2006, this paper examines the predictive content of aggregate analyst recommendations. We find that changes in aggregate analyst recommendations forecast future market excess returns after controlling for macroeconomic variables that have been shown to influence market returns. Similarly, changes in industry-aggregated analyst recommendations predict future industry returns. Changes in aggregate analyst recommendations also predict one-quarter-ahead aggregate earnings growth. Overall, our results suggest that analyst recommendations contain market- and industry-level information about future returns and earnings.

Mentoring The Next Generation, Stephen Scarpati

WCBT Faculty Publications

The article discusses the highlights of the 2009 Accounting Educators Conference held in New York State. Information about the certified public accountant (CPA) examination, accountancy reform law and accounting education requirements are provided by Dan Dustin of the New York State Board for Public Accountancy. Ebony Thomas of Ernst & Young and Lisa Brandt of UHY Advisors NY Inc. discussed salaries for new accountants and related recruiting issues. Some pieces of advice are offered to CPA who are counseling accounting students.

Effects Of Country-Level Legal, Extra-Legal And Political Institutions On Auditing: A Cross-Country Analysis Of The Auditor Specialization Premium, Bin Sirinidhi, Chee Yeow Lim, Mahmud Hossain

Research Collection School Of Accountancy

In this cross-country study of the specialist auditor premium, which spans the US and 12 other countries, we provide evidence that country-level institutional strength increases average audit fees, but reduces the incremental demand for specialist auditors. This finding supports the hypothesis that strong institutions and the demand for specialist knowledge act as substitutes in providing the requisite assurance of financial statements.

The Long-Term Effects Of Cross-Listing, Investor Recognition, And Ownership Structure On Valuation, Michael R. King, Dan Segal

Research Collection School Of Accountancy

We show that investor recognition and bonding associated with a U.S. cross-listing are distinct effects using a sample of Canadian firms. In contrast to the post-listing decline documented in the literature, we find that cross-listed firms with a single class of shares enjoy a permanent increase in valuation if they attract and maintain investor recognition over time. Valuations of firms that fail to widen their U.S. shareholder base return to pre-listing levels within two years. Cross-listed firms with dual-class shares exhibit a permanent increase in valuation regardless of the level of U.S. investor holdings, consistent with firm-level bonding.

Proposed Statement On Auditing Standards, Quality Control For An Audit Of Financial Statements, June 1, 2009, Comments Are Requested By August 31, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, June 1, 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 Quality Control Standards, A Firm’S System Of Quality Control (Redrafted), June 1, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

Proposed Statement On Quality Control Standards, A Firm’S System Of Quality Control (Redrafted), June 1, 2009, Comments Are Requested By August 31, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, June 1, 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, Quality Control For An Audit Of Financial Statements, June 1, 2009, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.

The Many Faces Of An Income Statement, Themin Suwardy, Teng Aun Khoo

Research Collection School Of Accountancy

When a company an- have no problem understandingnounces its financial the "nature" of this cost. However,results, most analysts if we were to allocate staff costs byand media coverage function, one would have to classitendto focus on its in- fy staff costs into all the functionscome statement, usually with of the entity, eg the wages of an emyear-on-yearor other periodic com- ployee working in the marketing deparisonsof performance.

Audit Committees, Boards Of Directors, And Remediation Of Material Weaknesses In Internal Control, Beng Wee Goh

Research Collection School Of Accountancy

The Sarbanes-Oxley Act (SOX) was passed in 2002 in response to a series ofaccounting improprieties at well-known companies such as Enron and WorldCom.One important aspect of SOX is the internal control requirements. SOX section302 requires that management evaluate the effectiveness of disclosure and controlprocedures, report results of the evaluation, and indicate any “significant changes”in internal controls since the last 10-K or 10-Q report (Securities and ExchangeCommission [SEC] 2002). In addition, SOX section 404 requires that manage-ment’s assessment of the effectiveness of internal control over financial reportingand auditors’ attestation on management’s assessment be included in firms’ 10-Kreports (SEC 2003a). The heightened …

Proposed Statement On Auditing Standards, External Confirmations, May 28, 2009, Comments Are Requested By August 31, 2009; Exposure Draft (American Institute Of Certified Public Accountants), 2009, May 28, American Institute Of Certified Public Accountants. Auditing Standards Board

Exposure Drafts, Comment Letters, and Statements of Position

No abstract provided.