Ken Ricci w ill be the next Student Union d irector, it was announced last n ight by Student Union D irector Tom B irsic and Student Body president-elect M ike Gassman. Ricci assumes his new duties A p ril 1. The sophomore accounting in ­ tent is from Cleveland, Ohio and served as assistant com ptro lle r th is year. He was the financia l troub le ­ shooter and developed a budget to keep Studen...

Non-governmental Organisations (NGOs) perform an important role in the economic development of developing countries by providing services to society through welfare works for community development, assistance in national disasters, sustainable system development, and popular movements. In recent years, funding constraints, calls for accountability, media exposure and the development of a contra...

This paper reveals and tests a new theoretical implication of the credit channel of monetary policy: as financial frictions (monitoring or auditing costs) increase, the reaction of stock prices to monetary policy shocks decreases. Correspondingly, towards the end of the Enron accounting scandal, the stock prices of firms sharing the same auditor as Enron responded by about 50 to 60 basis points...

During the 1990s Greek auditors and branches of international accounting firms in Greece fought a veritable professional war over the jurisdiction of statutory auditing. This intra-professional conflict developed against a backdrop of profound changes in the socio-economic and political fabric of the country, along pro-liberal, free market lines. This paper looks at a particular episode of that...

Future areas of application for mobile agents technology are open, distributed and decentralized networks, where Mobile Agents autonomously perform tasks on behalf of their principals . In this paper, we address the conceptual design of payments for and between Mobile Agents, particularly against the background of the Malicious Host Problem. We analyze the requirements on payment systems for Mo...

I probably do not need to emphasise that meaningful accounting standards and their effective implementation are highly relevant to any central bank’s responsibilities for financial stability. They help to ensure the safe and efficient functioning of the financial system. So it is essential that accounting standards have a clear economic rationale, promote comparability and secure adequate discl...

After adoption of International Financial Reporting Standards (IFRS) for consolidated financial statements by European-listed companies, a number of European countries still require the use of local standards in the preparation of legal entity financial statements. This study investigates whether this requirement can be explained by a low demand for high-quality financial reporting and an orien...

SYNOPSIS: We report on a panel discussion at the 2001 CMU Accounting MiniConference under the title "Intellectual Foundations of Accounting." We provide a background and the motivation for the discussion and present the remarl<s by the four panelists. A number of perspectives are taken. Professor Sunder emphasizes dualities in accounting. Professor Demski stresses the endogeneity of accounting ...

This paper proposes a generational accounting approach to valuating research. Based on the flow of scientific results, a value-added (VA) index is developed that can, in principle, be used to assign a monetary value to any research result and, by aggregation, on entire academic disciplines or sub-disciplines. The VA-index distributes the value of all applications that embody research to the wor...

I address the interaction between accounting conservatism and real options in both a staged investment and abandonment model. An accounting policy biased towards classifying a Good (Bad) project as Bad (Good) is conservative (aggressive). The accounting signal is optimally conservative when the ex ante unconditional expected terminal value is less than the second investment (staged investment) ...