Download or read book The Impact of Sec Scrutiny on Financial Statement Reporting of In Process Research and Development Expense written by Thomas D. Dowdell and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document the effect of SEC scrutiny on how firms report in-process research and development costs (IPRD), and investigate an important but previously unexamined means by which the SEC can influence financial reporting - oversight from the Office of the Chief Accountant, and the review and comment process in the Division of Corporation Finance. We examine restatements of previously expensed IPRD following the 1998 guidance provided by Chief Accountant Lynn Turner, who communicated his opposition to "excessive write-offs of In-Process Research and Development costs," and Chairman Arthur Levitt, who voiced his concerns about earnings management. Restatements reduce IPRD expense by 62 percent on average, and increase pre-tax income by 142 percent, with a median change of 32 percent. As well, in a sample of 582 acquisitions accounted for as purchases that included IPRD in SIC industry 737 (computer programming and software), mean IPRD charges as a percentage of assets acquired shrank 71 percent in the years following Chief Accountant Turner's guidance. The results demonstrate the potent impact SEC opinions about proper accounting practice can have on registrants' financial reporting, even when the agency is not formally setting new standards.
Download or read book Restatement of In Process Research and Development Write Offs written by Eric Press and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1998, SEC Chairman Arthur Levitt voiced his concerns about earnings management, including understatements of earnings. SEC Chief Accountant Lynn Turner communicated his opposition to "excessive" write-offs of In-Process Research and Development costs (IPRD) in September 1998. We document how the SEC-using channels other than formal standard setting and enforcement actions-affected registrants' reporting of IPRD transactions. We investigate factors associated with large IPRD write-offs in the software and computer services industry, and test whether firms managed their earnings with IPRD, as alleged by the SEC. In addition, we examine factors associated with the resulting IPRD restatements, and assess their valuation impact. IPRD write-offs-as a percentage of assets acquired-shrink by more than half in the period following the SEC's guidance. We observe companies that initially expense large amounts of IPRD faced high investor expectations, and the stock price impact of write-off restatements is reliably negative. The results demonstrate the potent impact the SEC's opinions on proper accounting practice have on companies' financial reporting, even when the agency is not officially setting new standards.
Download or read book SEC Reporting written by BDO USA and published by John Wiley & Sons. This book was released on 2020-06-02 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title clarifies new, difficult, and important reporting and disclosure requirements for SEC Reporting. You'll learn: The latest SEC developments and hot buttons. How to apply regulations S-X, S-K, and other SEC guidance. How to prepare and review financial statements and their related disclosures. It includes AS 3101, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion.
Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2006-01-27 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies; including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board [US], the Financial Accounting Standards Board [US] and the International Accounting Standards Board. These entities and self-regulatory organizations such as U.S. State Societies of CPAs and the American Institute of Certified Public Accountants and equivalent and emerging national bodies that exist in most developed and developing countries, are among the emerging entities which attempt to coordinate the activities of professional accountants among sovereign nations. It is important for academics, students, practitioners, regulators and researchers to consider and study the role and relationship of such bodies with the practice and content of our discipline. Research in Accounting Regulation seeks high quality manuscripts which address accounting regulatory policy, broadly defined, including: 1. self regulatory activities 2. case law and litigation 3. legislation and government regulation 4. the economics of regulation of markets, and disclosure, including modeling 5. matters involving the structure of education, licensing, and accreditation The editors encourage submission of original empirical, behavioral or applied research manuscripts which consider strategic and policy implications for regulation, regulatory models and markets. It is intended for individual researchers, practitioners, regulators and students of accountancy who desire to increase their understanding of the regulation of accountancy.
Download or read book SEC Financial Reporting written by Robert K. Herdman and published by . This book was released on 1983 with total page 1180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coverage of every aspect of financial reporting & disclosure under Regulations S-X and S-K, with step-by-step procedures for preparing information for Form 10-K & annual shareholders reports. The authors' focus on common problem areas and current developments includes: 1 Volume
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.
Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Download or read book Strengthening Forensic Science in the United States written by National Research Council and published by National Academies Press. This book was released on 2009-07-29 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scores of talented and dedicated people serve the forensic science community, performing vitally important work. However, they are often constrained by lack of adequate resources, sound policies, and national support. It is clear that change and advancements, both systematic and scientific, are needed in a number of forensic science disciplines to ensure the reliability of work, establish enforceable standards, and promote best practices with consistent application. Strengthening Forensic Science in the United States: A Path Forward provides a detailed plan for addressing these needs and suggests the creation of a new government entity, the National Institute of Forensic Science, to establish and enforce standards within the forensic science community. The benefits of improving and regulating the forensic science disciplines are clear: assisting law enforcement officials, enhancing homeland security, and reducing the risk of wrongful conviction and exoneration. Strengthening Forensic Science in the United States gives a full account of what is needed to advance the forensic science disciplines, including upgrading of systems and organizational structures, better training, widespread adoption of uniform and enforceable best practices, and mandatory certification and accreditation programs. While this book provides an essential call-to-action for congress and policy makers, it also serves as a vital tool for law enforcement agencies, criminal prosecutors and attorneys, and forensic science educators.
Download or read book Financial Oversight of Enron written by United States. Congress. Senate. Committee on Governmental Affairs and published by . This book was released on 2002 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The IRS Research Bulletin written by and published by . This book was released on 2003 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Big Deal written by Bruce Wasserstein and published by Business Plus. This book was released on 2009-02-28 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Wasserstein is widely recognized as the father of modern-day mergers and acquisitions... [He] explains what drives mergers and how they get done." - USA Today "Informative and entertaining." - Kirkus Reviews Big Deal is a penetrating look at the world of mergers and acquisitions by the legendary Bruce Wasserstein. Using compelling case studies, he reveals the inside story of the billion dollar deals that shape America's economy.
Download or read book Finance India written by and published by . This book was released on 2004-07 with total page 840 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report of the Advisory Committee on Corporate Disclosure to the Securities and Exchange Commission written by United States. Advisory Committee on Corporate Disclosure and published by . This book was released on 1977 with total page 894 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Making Medicines Affordable written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-03-01 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thanks to remarkable advances in modern health care attributable to science, engineering, and medicine, it is now possible to cure or manage illnesses that were long deemed untreatable. At the same time, however, the United States is facing the vexing challenge of a seemingly uncontrolled rise in the cost of health care. Total medical expenditures are rapidly approaching 20 percent of the gross domestic product and are crowding out other priorities of national importance. The use of increasingly expensive prescription drugs is a significant part of this problem, making the cost of biopharmaceuticals a serious national concern with broad political implications. Especially with the highly visible and very large price increases for prescription drugs that have occurred in recent years, finding a way to make prescription medicinesâ€"and health care at largeâ€"more affordable for everyone has become a socioeconomic imperative. Affordability is a complex function of factors, including not just the prices of the drugs themselves, but also the details of an individual's insurance coverage and the number of medical conditions that an individual or family confronts. Therefore, any solution to the affordability issue will require considering all of these factors together. The current high and increasing costs of prescription drugsâ€"coupled with the broader trends in overall health care costsâ€"is unsustainable to society as a whole. Making Medicines Affordable examines patient access to affordable and effective therapies, with emphasis on drug pricing, inflation in the cost of drugs, and insurance design. This report explores structural and policy factors influencing drug pricing, drug access programs, the emerging role of comparative effectiveness assessments in payment policies, changing finances of medical practice with regard to drug costs and reimbursement, and measures to prevent drug shortages and foster continued innovation in drug development. It makes recommendations for policy actions that could address drug price trends, improve patient access to affordable and effective treatments, and encourage innovations that address significant needs in health care.
Download or read book Intangibles written by Baruch Lev and published by Rowman & Littlefield. This book was released on 2000-12-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first comprehensive, scientifically based study of the nature and impact of intangibles. Weaving case studies and real-world examples with contemporary business theory, Baruch Lev - establishes an economic framework to analyze managerial and investment issues concerning intangibles; - surveys the impact of intangibles on corporate performance and market values, including management difficulties, risk, questions of property rights, marketability, and cost structure; - analyzes information deficiencies associated with intangibles, including the major economic principles governing intangible investments, limits of management information systems, and recommendations for improved accounting disclosure; - sets forth a comprehensive information system—aimed at satisfying the needs of both internal and external decision makers—to reflect the impact and value of intangibles within the context of enterprise performance.
