The sixth edition of Accounting Information Systems includes a full range of new and revised homework assignments, up-to-date content changes, as well as several reorga- nized chapters. All of these changes add up to more student and instructor enhancements than ever before. As this preface makes clear, we have made these changes to keep stu- dents and instructors as current as possible on issu…
The book primarily is about financial management and, as its title implies, real options are an integral, subsidiary theme. Real options are opportunities available to management permitting them to adapt the enterprise to changing needs. Understanding the value of real options is essential to corporate financial management. Examples in several chapters demonstrate why failure to assess the va…
This essay is concerned with the development of professional ethics in service institutions. The discussion deals with the transition from simple acceptance of definite responsibilities in functional relationships to the primal teleological problem of selecting among competing groups with their own semi-independent value systems and conflicting ends in view (objectives). In the process, a profe…
Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licenc…
Anyone who has read a newspaper or watched the evening news in recent years is well aware that fraudulent financial reporting by big businesses has reached alarming levels. Equally startling is the frequency of fraudulent financial reporting by small businesses—as many bankers and government agencies will confirm—and even by non–business entities such as not-for- profit organizations.
Firms that meet certain criteria can register debt or equity securities for issuance any time during the subsequent two years. This process is known as shelf registration. Key shelf registration qualification criteria include $75 million market capitalization held by outsiders, timely SEC filings, investment-grade ratings of debt, no defaults on debt payments, and listing on national stock ex…
This paper examines the economic substance of a broad range of securities by investigating their association with systematic risk and prices. The analysis is motivated by continuing security innovation and its impact on hybrid security reporting. Based on a sample of 2,617 firms that reported minority interests or preferred stock during 1993–1997, the results indicate that redeemable prefer…
This volume draws on the knowledge of many regulators and utilities analysts around the world. Some of these experts are colleagues; others have provided work that we have used without benefit of collaboration. Regulatory accounting is a bur- geoning field of endeavor, and regulators are increasingly establishing and publishing regulatory accounting requirements and standards. Awareness of and …
Advances in Management Accounting (AIMA) is a professional journal whose purpose is to meet the information needs of both practitioners and academicians. We plan to publish thoughtful, well-developed articles on a variety of current topics in management accounting, broadly defined. Advances in Management Accounting is to be an annual publication of quality applied research in management accoun…
his publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
Chinese accounting standards and practices are continuing to adapt to international market forces as the Chinese economy opens further to foreign investment. Chinese corporations are playing an ever more significant role in the global economy and the need to understand and interpret financial information produced by these corporations presents a continuing challenge to international fund mana…
The term digital refers to digits or numbers; however, in the computer science lexicon, this term refers to the representation of the information in 0s and 1s, which can be read, written and stored using machines. The prefix “e” refers to electronic, meaning the use of electricity in powering machines such as computers. Digital accounting, or e-ac- counting, as a corresponding analog, refer…
We present a review of the governmental capital markets research that has been conducted since Ingram et al. (1987). The review indicates that much of the research conducted in the last fifteen years involves the new issue bond market. Increased attention is also given to research in the secondary market. However, much of the secondary market research fails to examine the specific relationshi…
This book was written to provide an overview of the day-to-day aspects with which a portfolio manager must be concerned. Theories and essential calculations are covered, along with a practical description of what is involved in managing portfolios. This book is not designed to focus on portfolio management in either a bull or a bear market scenario. Whether markets go up or down, the essentia…
In this paper I advocate and illustrate a new approach to the study of accounting measurement and disclosure that is strikingly different from the usual studies of disclosure in pure exchange economies. This new approach studies the “real effects” of accounting disclosure, arguing that how accountants measure and report firms’ economic transactions, earnings and cash flows to capital ma…