Accounting Law Commons^™

Cross-Border Derivative Accounting And Disclosure Requirements: Do The New Requirements Really Provide Useful Information To The Financial Statement Users?, Jennifer Ottosen

University of Miami Business Law Review

No abstract provided.

Accounting And The New Corporate Law, Joel Seligman

Washington and Lee Law Review

No abstract provided.

Thoughts Evoked By "Accounting And The New Corporate Law", Ted J. Fiflis

Washington and Lee Law Review

No abstract provided.

Ldc Debt Reduction Techniques: Debt-Equity And Debt Collateralization Transactions-Legal And Accounting Implications For U.S. Banks, Andrew C. Quale Jr.

University of Miami Inter-American Law Review

No abstract provided.

Cpas Who Perform Management Consulting Services May Face Increased Exposure To Controlling Person Liability Under The Federal Securities Acts

Washington and Lee Law Review

No abstract provided.

The Legal Blitz Against Accountants: An Analysis Of Section 12, Robert Allen Prentice, Jill Meznar Thompson

Kentucky Law Journal

No abstract provided.

Protecting The Public Fisc: Fighting Accrual Abuse With Section 446 Discretion, Karl S. Coplan

Elisabeth Haub School of Law Faculty Publications

This Note suggests an approach under the current Code and current legal doctrine that would enable the Commissioner to disallow accrual accounting when manipulated to avoid taxation. At the outset, the Note defines and illustrates tax avoidance through accounting manipulation. The Note then considers within the framework of judicial review of agency action the source and nature of the Commissioner's discretion to reject accounting methods. This analysis demonstrates the validity of the Commissioner's action whenever it is based on legally relevant factors. The Note then develops the emerging content of the “clearly reflect income” language as the source of the …

Accrual Of Gambling Debts Under Internal Revenue Code Section 451, Michigan Law Review

Michigan Law Review

This Note examines whether an accrual-basis taxpayer must include a legally unenforceable claim in taxable income when it is executed or satisfied. Section I of the Note interprets the "all events test" to require measurement of the likelihood of payment of a debt at the time it is executed: If payment is sufficiently certain, the debt must be accrued. The section concludes that the casinos must include the outstanding markers as income in the year of their execution, and cannot postpone their inclusion until the debts are repaid. Section II argues that accrual-method taxpayers are entitled to use a "bad …

Accounting For Mergers, Acquisitions And Investments, In A Nutshell: The Interrelationships Of, And Criteria For, Purchase Or Pooling, The Equity Method, And Parent-Company-Only And Consolidated Statements, Ted J. Fiflis

Publications

No abstract provided.

Accounting And Accountability: Overview Of The Accounting Provisions Of The Foreign Corrupt Practices Act Of 1977, Thomas E. Baker

Washington and Lee Law Review

No abstract provided.

Betterment Accounting: A Requiem By The Sec, James M. Van Nostrand

Law Faculty Scholarship

The railroad industry, unlike almost every other industry, has a depreciation accounting system all its own known as betterment accounting. In sharp contrast to generally-accepted methods of depreciation, such as ratable depreciation, where the cost of the capital asset is systematically expensed over the useful life of the asset, under the betterment practice, the initial cost of track structures is recorded as a nondepreciable asset. Subsequent replacement costs are then charged directly to operating expense as an "adequately reliable" measure of depreciation. Justifications for this unique system of accounting relate primarily to the peculiar nature of railroad track structure-a large …

Determination Of The Useful Life Of A Taxpayer's Asset For Purposes Of The Federal Income Tax Deduction For Depreciation Using Statistical Methods To Analyze The Facts And Circumstances, Robert E. Anthony

Villanova Law Review (1956 - )

No abstract provided.

Factors Determining The Degree Of Culpability Necessary For Violation Of The Federal Securities Laws In Information Transmission Cases, David S. Ruder

Washington and Lee Law Review

No abstract provided.

Sec Enforcement Techniques: Expanding And Exotic Forms Of Ancillary Relief, James C. Treadway, Jr.

Washington and Lee Law Review

No abstract provided.

Recent Cases, Gregg N. Gimsley

Vanderbilt Law Review

The instant decision is of major importance because it clearly defines a more liberal standard for aiding and abetting under section 10(b), reads a requirement of due care by accountants into section 17(a), and serves as an additional warning to the accounting profession of its expanding responsibilities in the field of securities regulation. By establishing negligence, duty to disclose, and causal connection, rather than actual knowledge, substantial assistance,and reliance, as the major elements of aiding and abetting a violation of Rule 10b-5, the Seventh Circuit has given this cause of action the broadest interpretation to date. Nothing precluded this interpretation …

Truth In Financial Statements: An Introduction, Douglas W. Hawes

Vanderbilt Law Review

When used in relation to a periodical, the word "symposium"refers to "a collection of opinions on a subject." The word derives from the Greek "sympinein," to drink together, and originally was applied to a drinking party in which conversation and intellectual entertainment played a vital part. To our "party" we have invited a distinguished group of authors representing in some cases widely differing points of view. They have contributed articles dealing with various aspects of these problems of financial reporting and auditing. We leave to you, the reader, and to those engaged in the continuing debate the final judgment on …

Current Problems Of Accountants'responsibilities To Third Parties, T. J. Fiflis

Vanderbilt Law Review

When the auditor begins the audit program, he will record in "working papers" his work and findings. Each page will be dated and initialed by all persons who dealt with it. The papers should be indexed and bound and retained for some years. They should also be comprehensible as they are intended for use by others as well as for later use.

A trial balance is usually the first working paper. Other standard working papers are data from the corporate charter, by-laws,and minutes and analyses of accounts, prescribed by the audit program. One of the last working papers will be …

We Often Paint Fakes, Abraham J. Brilof

Vanderbilt Law Review

To begin, the profession has disseminated the message far and wide that its members are the high priests responsible for the interpretation and application of a very special body of knowledge known as "generally accepted accounting principles" usually referred to as "GAAP." On analysis one quickly discerns that no such defined body of principles exists. Some commentators maintain, in fact,that not a single accounting precept is deserving of the designation"principle" and these exegetics urge that the critical phrase be changed to read "generally accepted accounting standards," hence" GAAS." Others, reflecting on the evils perpetrated in the name of GAAP and/or …

Accounting Standards In The United States And The United Kingdom: Their Nature, Causes And Consequences, George J. Benston

Vanderbilt Law Review

The purpose of this article is to account for the existence of differing accounting standards in the United States and the United Kingdom despite a common language, common practice and a fundamentally common political and economic base in the two countries. What factors explain the fact that, while accounting standards in the United States are codified and explicit, they remain on the whole uncodified and implicit in Great Britain? From which system does the investor more likely benefit? The first section of this paper begins with descriptions of auditing and reporting standards in each country. The factors which influence the …

Over-Accountable Accountants? A Proposal For Clarification Of The Legal Responsibilities Stemming From The Audit Function, Geoffrey T. Chalmers

William & Mary Law Review

No abstract provided.

Deductibility Of Expenses For Child Care And Household Services: New Section 214, Alan L. Feld

Faculty Scholarship

It is increasingly common to find families composed of husband, wife and young children, where both husband and wife are gainfully employed. For some, this pattern is regarded as preferable to the older "ideal" family, where the husband was the sole breadwinner and the wife cared for the children, performed household chores and perhaps engaged in social or charitable activities. Where both spouses are gainfully employed, it is often necessary for the family to employ household help to care for the children and do the housework. These expenditures are "necessary" to the gainful employment of both spouses in the sense …

The Rise Of The Accounting Profession To Responsibility And Authority, 1937-1969, Volume Ii., Jay D. Cook

Washington and Lee Law Review

No abstract provided.

The Rise Of The Accounting Profession, Volume I By John L. Cary, Thomas E. Ennis, Jr.

Washington and Lee Law Review

No abstract provided.

Objective: Tax Avoidance, Clay Brown And The Three-Party Sale And Leaseback, Louis F. Nicharot

Villanova Law Review (1956 - )

No abstract provided.

Section 341(D) And (E)- A Journey Into Never-Never Land, William M. Goldstein

Villanova Law Review (1956 - )

No abstract provided.

Federal Tax Aspects Of Non-Profit Organizations, Marcus Schoenfeld

Villanova Law Review (1956 - )

No abstract provided.

Federal Income Taxation - Tax Accounting - Prepaid Income Falling Due But Remaining Unpaid During The Year Included In Gross Income For That Year, Christopher J. Clark

Villanova Law Review (1956 - )

No abstract provided.

Changes In Tax Accounting: Administrative And Legislative Nonsense, William A. Kelley Jr., Milton P. King

Villanova Law Review (1956 - )

No abstract provided.

Cash And Accrual Methods Of Income Tax Accounting, William J. Bowe

Vanderbilt Law Review

It is the purpose of this article to introduce the two methods of income'tax accounting to the general practitioner who is not a specialist in the field and to the student who is attempting to learn the subject of income taxation. The article simply seeks to express in a clear and orderly fashion the developed law on the topic.

Accounting For Depreciation And Depletion, Norman Fitzhugh

West Virginia Law Review

No abstract provided.