Download or read book Stealth Disclosure of Accounting Restatements written by Rebecca Files and published by . This book was released on 2009 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managers exercise considerable discretion over how they announce an accounting restatement in a press release. Some firms issue a press release that discloses the restatement in the headline (high prominence). Others provide a press release with a headline on a different subject (for example, earnings news) but describe the restatement in the body of the release (medium prominence). The remaining firms discuss the restatement at the end of the press release in a footnote to operating results (low prominence). Mean three-day returns differ considerably across these three categories of prominence (-8.3, -4.0, and -1.5 percent, respectively). We find that disclosure prominence is significantly negatively associated with returns in a model that controls for the seriousness of the GAAP violation, restatement magnitude, other restatement characteristics, and potential endogeneity. Similarly, we find the likelihood of class action lawsuits is significantly reduced with less prominent disclosure.
Download or read book Accounting Restatements and Key Audit Matters disclosure written by MATOZZA FELICE and published by G Giappichelli Editore. This book was released on 2022-07-15 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is one of the few books to investigate the understudied but fascinating topic of accounting restatement in the European context. In the first chapter, substantial changes over time in treatments for correction of errors under the International Financial Reporting Standards and Italian generally accepted accounting principles are examined. Following that, a brief overview of the literature, mainly concerning the United States environment, and characteristics of and trends in accounting issues drawn from restatements announced by a sample of firms listed in European countries from 2016 to 2020 are presented. After a review of multi-country empirical research, chapter 3 presents an assessment of the frequency and severity of restatements at the country, industry and year levels. Finally, chapter 4 considers the forewarning effect of topics communicated in the key audit matters in relation to subsequently revealed account-specific misstatements by proposing a new matching procedure. Throughout the work, the author provides frequent comparisons with findings obtained by United States scholars.
Download or read book The Timing of Accounting Restatements written by Yuezhu Li and published by . This book was released on 2016 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial disclosure, playing an important role in communicating business situations with external users, is always under strict standards and regulation rules in relation to treatments, contents and presence. Timing of these public announcements then become a popular firms’ disclosure strategy. Using U.S. financial market data over ten years from 2005 to 2015, this study examines the strategic intra-week timing of companies’ restatements disclosure with relation to the news contained. Different from previous studies on highly visible annual earnings announcements or on purely voluntary management forecast announcements, this research uses restatements whose disclosure are mandatory from regulator but the timings are unscheduled. In addition, the market reaction of these restatements in relation to the disclosure timing is examined, showing whether such distraction is a successful strategy in mitigating negative market reactions. This research contributes to both restatements studies and limited attention studies.
Download or read book Financial Statement Restatements written by United States. General Accounting Office and published by . This book was released on 2002 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Postmodern Accounting Theory written by Gaétan Breton and published by Emerald Group Publishing. This book was released on 2018-11-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing upon frameworks employed in the human sciences, Breton builds a multi-faceted theory of accounting, conceiving it as a fundamentally social activity that puts preparers of financial statements in contact with users in order to help them make economic decisions, and analyzing the behavior of perparers and users.
Download or read book Little r Restatement Disclosure written by Jadallah Azmi Jadallah and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines determinants of little "r" restatement disclosure outlet and timing, as well as the market reaction of such disclosure. Little r restatements are revisions that can be revealed in less apparent ways than big R restatements, which are reissuances of financial statements (Hogan and Jonas 2016). Big R restatements must be disclosed in Section 4.02 of an 8-K filing within four business days of the detection of an error(s) and this should warn investors to not depend on a previously disclosed financial(s) (SEC 2004). On the other hand, firms have the flexibility in determining the outlet and timing of little r restatement disclosures.This study examines restatement types and corporate governance mechanisms as the determinants of little r restatement disclosure outlet and timing. Results show some evidence that positive effect income statement restatements are disclosed in a timelier manner than negative effect income statement restatements. The study also suggests that firms with higher CEO equity compensation reveal negative effect restatements timelier than positive effect restatements. On the other hand, some evidence indicates that companies with higher CFO equity compensation disclose positive effect restatements in a timelier fashion than negative effect restatements. The study provides some evidence that firms with new auditors reveal positive effect restatements more transparently than negative effect restatements. Finally, some evidence is provided indicating that the market reacts more negatively to more transparent negative effect restatements relative to more transparent positive effect restatements.The current study contributes to the literature on management disclosure tactics. Prior literature shows that disclosure formats can influence the acquisition, evaluation, and weighting of the information disclosed (for example, Elliott 2006; Elliott et al. 2007; Hodge et al. 2004; Maines and McDaniel 2000). Timeliness is an important factor of relevant information and there is market demand for timely revelations (Bronson et al. 2011). Findings of this study have implications for regulators, managers, investors, and auditors.
Download or read book Advances in Accounting Behavioral Research written by Khondkar E. Karim and published by Emerald Group Publishing. This book was released on 2016-11-04 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Accounting Behavioral Research addresses a wide range of issues that affect the users, preparers and assurers of accounting information. Volume 19 exemplifies this focus by including research from auditing, taxation and managerial and information systems.
Download or read book Accounting Restatements written by Marc Wilczek and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Material Weakness Disclosures and Restatement Announcements written by Nader Wans and published by . This book was released on 2017 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the joint pricing effects of restatement announcements and associated MW disclosures. First, we analyze whether a dual disclosure of both a MW and restatement is viewed more adversely by the market at the time of restatement. We show that firms that announce both a restatement and an associated MW, either before, concurrent with, or after the restatement experience significantly more negative returns and a higher increase of implied volatility than do firms whose restatements were not associated with an MW disclosure. We also find that the joint disclosure of a MW and restatement triggers more class action lawsuits than does a single disclosure of a MW. Second, we examine the PCAOB's premise that MW disclosures are warnings of potential financial misstatements by examining the market reaction to restatements conditional on prior MW disclosures. Our evidence suggests that the market reacts more negatively to restatements that are preceded by a MW disclosure compared to restatements that went unwarned. Overall, our study provides new insights on how capital market participants incorporate information about internal control quality into their perceptions about financial reporting quality.
Download or read book Handbook of Strategic e Business Management written by Francisco J. Martínez-López and published by Springer Science & Business Media. This book was released on 2013-11-19 with total page 1004 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research handbook provides a comprehensive, integrative, and authoritative resource on the main strategic management issues for companies within the e-business context. It covers an extensive set of topics, dealing with the major issues which articulate the e-business framework from a business perspective. The handbook is divided into the following e-business related parts: background; evolved strategic framework for the management of companies; key business processes, areas and activities; and, finally, emerging issues, trends and opportunities, with special attention to diverse Social Web-related implications. The articles are varied, timely and present high-quality research; many of these unique contributions will be especially valued and influential for business scholars and professionals interested in e-business. Many of the contributors are outstanding business scholars who are or have been editors-in-chief of top-ranked management and business journals or have made significant contributions to the development of their respective fields.
Download or read book Handbook of Financial Decision Making written by Gilles Hilary and published by Edward Elgar Publishing. This book was released on 2023-08-14 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: This accessible Handbook provides an essential entry point for those with an interest in the increasingly complex subject of financial decision making. It sheds light on new paradigms in society and the ways that new tools from private actors have affected financial decision making. Covering a broad range of key topics in the area, leading researchers summarize the state-of-the-art in their respective areas of expertise, delineating their projections for the future.
Download or read book E book Ethical Obligations and Decision Making in Accounting Text and Cases written by Mintz and published by McGraw Hill. This book was released on 2016-04-16 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: E-book: Ethical Obligations and Decision-Making in Accounting: Text and Cases
Download or read book SEC Docket written by United States. Securities and Exchange Commission and published by . This book was released on 2008 with total page 942 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Periodicals Index written by and published by . This book was released on 2009 with total page 1920 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Program and Proceedings written by American Accounting Association and published by . This book was released on 2007 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009-04 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Key Global Financial Markets Institutions and Infrastructure written by Gerard Caprio and published by Academic Press. This book was released on 2012-11-27 with total page 635 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title begins its description of how we created a financially-intergrated world by first examining the history of financial globalization, from Roman practices and Ottoman finance to Chinese standards, the beginnings of corporate practices, and the advent of efforts to safeguard financial stability.
