SYNOPSIS: This essay analyzes some problems that accounting standard setters confront in erecting barriers to managers bent on boosting their firms’ financial reports through financial engineering (FE) activities. It also poses some unsolved research questions regarding interactions between preparers and standard setters. It starts by discussing the history of lease accounting to illustrate the...

Background: The issue of professional socialization is very important in accounting. Failure to transfer professional values to accounting students may harm both the profession and its students. Individuals must adapt to all the values and norms of their chosen profession. Studying different aspects of professional socialization and the factors that affect it can provide a basis for improving t...

Such major scandals as the savings and loan failures in the late 1980s and 1990s, the Enron, Global Crossing, WorldCom and Tyco corporate scandals, Arthur Andersen’s demise, and the current crisis of the financial system have all been linked directly or indirectly to false, misleading, or untruthful accounting. Thus, in a pragmatic sense the question of the veracity of accounting or what it cou...

Grid computing is a promising platform for executing large-scale resource intensive applications. Resource accounting is a basic and important activity in Grid research. In this paper1, we propose an accounting framework based on hierarchical design. It comprises two layers of accounting managers: global accounting manager and local accounting manager. The latter provides the former a series of...