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Full-Text Articles in Law
Law School News: Throw Out The Old Thinking 9-30-2019, Michael M. Bowden
Law School News: Throw Out The Old Thinking 9-30-2019, Michael M. Bowden
Life of the Law School (1993- )
No abstract provided.
Accounting For The Government Funding Of Non-Profits And The Planned Parenthood Federation Of America, Rachel E. Brown
Accounting For The Government Funding Of Non-Profits And The Planned Parenthood Federation Of America, Rachel E. Brown
Senior Honors Theses
Accounting creates a framework for providing transparency in an organization. This foundation is especially important in not-for-profit entities because government grants and contributions often compose significant portions of overall revenues and receipts. An overview of non-profit standards and the government system of distributing funds provides insight into non-profits as a whole and enables the study of specific organizations. As the nation’s largest provider of abortion and family planning services, the Planned Parenthood Federation of America is an especially important organization to study and understand. It receives significant funds from federal and state governments and should receive equally significant evaluation by …
Backdated Stock Options Ownership Impact On The Corporation, Management, & Shareholders, Karen Cascini, Alan Delfavero
Backdated Stock Options Ownership Impact On The Corporation, Management, & Shareholders, Karen Cascini, Alan Delfavero
WCBT Faculty Publications
In the post-Sarbanes-Oxley Act (SOx) world, there has been an unprecedented crackdown on fraudulent activity occurring within corporate America. During recent years, many companies have granted stock options to their executives and employees as part of compensation packages. While the issuance of stock options as a component of compensation is considered to be a legal practice, corruption has taken this corporate resource to unlawful heights. Recently, numerous corporations have been in the news for potentially backdating stock options. Accordingly, the purpose of this paper is to distinguish between legal and illegal aspects of backdating stock options, and to examine the …
Heedless Globalism: The Sec's Roadmap To Accounting Convergence, William W. Bratton
Heedless Globalism: The Sec's Roadmap To Accounting Convergence, William W. Bratton
All Faculty Scholarship
The Securities Exchange Commission (SEC) has introduced a "Roadmap" that describes a process leading to mandatory use of International Financial Reporting Standards (IFRS) by domestic issuers by 2014. The SEC justifies this initiative on the grounds that global standardization yields cost savings and an ultimate gain in comparability, facilitating the search for global opportunities by u.s. investors and making u.s. capital markets more attractive to foreign issuers. This Article shows that the offered justification is inadequate. The SEC frames the matter as a choice between two institutional frameworks for standard setting, holding out high quality sets of standards, asking which …
Slides: Energy By Design: Possible Bmp For Mitigation Planning, Dave Gann
Slides: Energy By Design: Possible Bmp For Mitigation Planning, Dave Gann
Best Practices for Community and Environmental Protection (October 14)
Presenter: Dave Gann, The Nature Conservancy
15 slides
Treatment Differences And Political Realities In The Gaap-Ifrs Debate, William W. Bratton, Lawrence A. Cunningham
Treatment Differences And Political Realities In The Gaap-Ifrs Debate, William W. Bratton, Lawrence A. Cunningham
All Faculty Scholarship
No abstract provided.
An Assessment Of The Impact Of The Sarbanes-Oxley Act On The Investigation Violations Of The Foreign Corrupt Practices Act, Karen Cascini, Alan L. Delfavero
An Assessment Of The Impact Of The Sarbanes-Oxley Act On The Investigation Violations Of The Foreign Corrupt Practices Act, Karen Cascini, Alan L. Delfavero
WCBT Faculty Publications
During the late 1990s and early 2000s, a plethora of corporate scandals occurred. Due to these corporate debacles, corporate executives have been placed under fire. In response to such unethical conduct with regard to internal practices and financial reporting, legislation has been passed in order to ensure that corporations conduct their business in an ethical manner. The purpose of this paper is to assess the connection between the Foreign Corrupt Practices Act of 1977 (FCPA) and the Sarbanes-Oxley Act of 2002 (SOx), to determine whether SOx has influenced the FCPA’s investigative violation activities by examining the number of such investigations …
Private Standards, Public Governance: A New Look At The Financial Accounting Standards Board, William W. Bratton
Private Standards, Public Governance: A New Look At The Financial Accounting Standards Board, William W. Bratton
All Faculty Scholarship
The Financial Accounting Standards Board (the “FASB”) presents a puzzle: How has this private standard setter managed simultaneously (1) to remain independent, (2) to achieve institutional stability and legitimacy, and (3) to operate in a politicized context in the teeth of op-position from its own constituents? This Article looks to governance design to account for this institutional success. The FASB’s founders made a strategic choice to create a regulatory agency that sought independence rather than political responsiveness. The FASB also set out a coherent theory of accounting, the “Conceptual Framework,” to contain and direct its decisions. The Conceptual Framework contributed …
Who Pays The Auditor Calls The Tune?: Auditing Regulations And Clients' Incentives, Amy Shapiro
Who Pays The Auditor Calls The Tune?: Auditing Regulations And Clients' Incentives, Amy Shapiro
Cornell Law Faculty Publications
As we move on from the financial scandals of the early 2000s, the question of how to prevent the next Enron continues to be a pressing one. This Article focuses on the law’s deeply conflicted treatment of auditors of public corporations. Though the audit firm is charged with serving as the public’s watchdog in insuring good financial disclosure, the auditor’s actual client is the audited corporation itself, whose interests concerning disclosure are not necessarily aligned with those of investors. Because the Sarbanes-Oxley Act of 2002 left this structure in place, further reform is needed. One promising suggestion is to give …
Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton
Rules, Principles, And The Accounting Crisis In The United States, William W. Bratton
All Faculty Scholarship
The Sarbanes-Oxley Act and the Securities Exchange Commission move too quickly ·when they prod the Financial Accounting Standards Board, the standard setter for US GAAP, to move immediately to a principles-based system. Priorities respecting reform of corporate reporting in the US need to be ordered more carefully. Incentive problems impairing audit performance should be solved first through institutional reform insulating the audit from the negative impact of rent-seeking and solving adverse selection problems otherwise affecting audit practice. So long as auditor independence and management incentives respecting accounting treatments remain suspect. the US reporting system holds out no actor plausibly positioned …
The Case For Repealing The Corporate Alternative Minimum Tax, Terrence R. Chorvat, Michael S. Knoll
The Case For Repealing The Corporate Alternative Minimum Tax, Terrence R. Chorvat, Michael S. Knoll
All Faculty Scholarship
No abstract provided.
Put-Call Parity And The Law, Michael S. Knoll
Put-Call Parity And The Law, Michael S. Knoll
All Faculty Scholarship
A common literary theme is the conflict between appearance and reality. That conflict also frequently arises in the law, where it is usually cast as one between substance and form. Another discipline in which the conflict arises is finance, where it appears in the put-call parity theorem. That theorem states that given any three of the four following financial instruments--a riskless zero-coupon bond, a share of stock, a call option on the stock, and a put option on the stock--the fourth instrument can be replicated. Thus, the theorem implies that any financial position containing these assets can be constructed in …
Uncertain Litigation Cost And Seller Behavior: Evidence From An Auditing Game, Ping Zhang, Bryan K. Church, Lucy Ackert
Uncertain Litigation Cost And Seller Behavior: Evidence From An Auditing Game, Ping Zhang, Bryan K. Church, Lucy Ackert
Faculty and Research Publications
- Investigates difficulties that arise in estimating expected litigation costs in an auditing game in the United States. Effect of effort level on certain and uncertain costs of performing the engagement; Frequency of observed fee offers below the total expected cost of an engagement; Institutional arrangements and damage-sharing regimes; Theoretical and behavioral predictions.
Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll
Corporate Finance, Corporate Law And Finance Theory, Peter H. Huang, Michael S. Knoll
All Faculty Scholarship
No abstract provided.
Operating Under New Laws Pertaining To Mineral Development On Indian Lands, B. Reid Haltom
Operating Under New Laws Pertaining To Mineral Development On Indian Lands, B. Reid Haltom
Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)
89 pages.
Contains 8 attachments:
1) Indian Mineral Development Act of 1982, Public Law 97-382 - Dec. 22, 1982.
2) Proposed BIA Regulations, 25 C.F.R. 225 and 211, Federal Register, Vol. 48, No. 134, Tuesday, July 12, 1983.
3) Billings Area Office Procedures.
4) Flow Chart.
5) Oil and Gas Exploration Joint Venture Agreement.
6) Federal Oil and Gas Royalty Management Act of 1982, Public Law 97-451 [H.R. 5121], January 12, 1983.
7) 30 C.F.R., Part 210, 212, 217, 218, 219, 228, 229, 241, 243, Federal Register, Vol. 49, No. 185, Friday, September 21, 1984.
8) 43 C.F.R., Part 3160, …
Agenda: Public Lands Mineral Leasing: Issues And Directions, University Of Colorado Boulder. Natural Resources Law Center
Agenda: Public Lands Mineral Leasing: Issues And Directions, University Of Colorado Boulder. Natural Resources Law Center
Public Lands Mineral Leasing: Issues and Directions (Summer Conference, June 10-11)
University of Colorado School of Law professor Lawrence J. MacDonnell served as the conference organizer and as a member of the faculty.
Federal leasing programs, especially for oil and gas and coal, have been undergoing important changes in recent years. This conference will provide an overview and an update for those involved in public lands mineral development. Significant new issues also will be addressed.