Analysts Earnings Forecast Accuracy And Activity: A Time-Series Analysis

We examine time-series variations in the accuracy of analysts’ earnings forecasts and analyst-specific factors that may explain these variations.  Our analysis shows that the accuracy of analysts’ annual earnings forecast accuracy has increased over our sample period (1984-2006).  In addition, forecasts have become more timely and frequent and analysts tend to issue forecasts for more consecutive years before being replaced.  We also find evidence that analysts issue forecasts for fewer companies per year and have a greater degree of industry-specific specialization.  Results of our analysis suggest that changes in analyst-specific characteristics have enhanced analysts’ ability to make accurate forecasts

Corporate Governance And The Quality Of Financial Disclosures

Congress has recently enacted measures designed to improve corporate governance standards.  Regulators have asserted that strong corporate governance enhances the transparency and validity of financial statements.  Previous studies addressing the relationship between corporate governance and financial reporting quality yield mixed results.  This study employs analyst earnings forecasts to determine whether corporate governance procedures impact the quality of accounting information.  Following the work of Barron et al. (1998), we examined the impact of various measures of the strength of corporate governance on forecast accuracy and dispersion.  Our results provide mixed evidence to support the notion that the strength of corporate governance impacts the quality of financial statement information.&nbsp

Investigation Into The General Acceptance Of AACSB Ethics Standards

The Association to Advance Collegiate Schools of Business (AACSB) has long required the integration of ethics into the accounting curriculum of accredited schools.  Little research investigates how this requirement is implemented.  We conduct a survey of accredited and non- accredited institutions to determine how ethics are integrated into the accounting curriculum.  Results of this survey are of interest to individuals at accredited and non-accredited schools.&nbsp

Incipient Separation in Shock Wave Boundary Layer Interactions as Induced by Sharp Fin

The incipient separation induced by the shock wave turbulent boundary layer interaction at the sharp fin is the subject of present study. Existing theories for the prediction of incipient separation, such as those put forward by McCabe (1966) and Dou and Deng (1992), can have thus far only predicting the direction of surface streamline and tend to over-predict the incipient separation condition based on the Stanbrook's criterion. In this paper, the incipient separation is firstly predicted with Dou and Deng (1992)'s theory and then compared with Lu and Settles (1990)' experimental data. The physical mechanism of the incipient separation as induced by the shock wave/turbulent boundary layer interactions at sharp fin is explained via the surface flow pattern analysis. Furthermore, the reason for the observed discrepancy between the predicted and experimental incipient separation conditions is clarified. It is found that when the wall limiting streamlines behind the shock wave becomes\ aligning with one ray from the virtual origin as the strength of shock wave increases, the incipient separation line is formed at which the wall limiting streamline becomes perpendicular to the local pressure gradient. The formation of this incipient separation line is the beginning of the separation process. The effects of Reynolds number and the Mach number on incipient separation are also discussed. Finally, a correlation for the correction of the incipient separation angle as predicted by the theory is also given.Comment: 34 pages; 9 figure

Constructing the 'child at risk' in social work reports: a way of seeing is a way of not seeing

In the context of the changing relationship between children, parents and the welfare state, professionals have to deal with notions of the “child at risk”. In child welfare and protection, the issue of normative judgement in (risk) assessment and documentation is an essential area for exploration for social workers. We examine the practice of report writing in which future professionals exercise power while assessing, documenting, and judging the child as “at risk”. We report on a study about a fictional social work case conducted with 152 students in Belgium, in which we developed a rhetorical analysis of the “terministic screens” used in writing reports

RE-THINKING PATHS TO 150 CREDIT HOURS: CAREER BUILDING OPPORTUNITIES

For many years now, the accounting profession has required the completion of 150 college credit hours to become a CPA. Since the enactment of this state-specific requirement became widespread, there have been many alternative paths prospective CPAs have followed to obtain the necessary college credit. In this article, we briefly review the history of the 150-hour requirement, followed by descriptions of alternatives available to fulfill this requirement. Each of these alternatives offers unique advantages, which we highlight. These overviews are also useful to practicing CPAs who are considering going back to school to gain knowledge to advance their careers. In addition, we discuss career transitions for people who do not have an accounting undergraduate degree

Accounting For Stock Based Employee Compensation: A Continuing Controversy

Stock options represent an increasingly significant component of executive compensation. Theoretically, the inclusion of stock options in executive compensation contracts motivates managers to take actions that increase the market value of the firm's stock. Accounting standards regulating the treatment of stock options continue to be controversial. The focus of this paper is to examine the accounting treatment of stock options. We begin by outlining the controversial history of accounting for stock options.  Next, we examine the alternative accounting treatments for stock option.  Finally, we critique the proposed changes to the methods of accounting for stock options

Accounting Boot Camp For College Juniors

We describe a day-long introduction to new accounting majors, which we call a boot camp.  Boot camp it is an effort to make juniors more aware of their identity, career purposes and learning resources that are now parts of their world, much of which is not covered explicitly in the accounting curriculum.  This paper provides an overview of the activities included in our initial boot camp.  In addition, we provide information useful in organizing boot camp type activities at other universities.

Do Variations in the Strength of Corporate Governance Still Matter? A Comparison of the Pre- and Post-regulation Environment

Corporate scandals brought the issue of corporate governance to the forefront of the agendas of lawmakers and regulators in the early 2000s. As a result, Congress, the New York Stock Exchange, and the NASDAQ enacted standards to improve the quality of corporate governance, thereby enhancing the quantity and quality of disclosures by listed companies. We investigate the relationship between corporate governance strength and the quality of disclosures in pre- and post-regulation time periods. If cross-sectional differences in corporate governance policies affect the quality of financial disclosures, the quality of information available to analysts varies with such policies. Specifically, higher quality disclosures, produced as a result of strong corporate governance, should lead to more accurate and less dispersed analysts’ forecasts. Our analysis suggests that voluntary implementation of stronger corporate governance enhanced the quality of disclosures in the pre-regulation period; however, exceeding current corporate governance standards does not appear to result in higher quality disclosures post-regulation. These results suggest that SOX and the stronger regulations enacted by U.S. exchanges were effective in reducing variation in the quality of financial information available to investors

Family planning decisions for parents of children with a rare genetic condition: a scoping review

Expansion of newborn screening programmes increases the complexity around reproductive choices, both in terms of the increased number of parents faced with making reproductive decisions from the earliest days of their affected child's life, and the number of conditions for which such decisions have to be made. We conducted a scoping review to explore: (i) reproductive decision-making among parents of children with recessive genetic conditions; and, (ii) the involvement of healthcare services in facilitating and supporting those decisions. Systematic search processes involved seven bibliographic databases, citation, and grey literature searches. From an initial total of 311 identified articles, seven met the inclusion criteria and were included in the review. The extracted data were organised around three themes: factors influencing reproductive decisions taken by parents, how those factors changed over time, and the involvement of healthcare services in supporting and facilitating reproductive decisions. Most studies focused on attitudes towards, and uptake of, pre-natal diagnosis (PND) and termination. None of the studies considered the wider range of reproductive choices facing all parents, including those of children with conditions for whom PND and termination is not available or where good health outcomes make these options less justifiable. The literature provided little insight into the role of healthcare staff in providing family planning support for these parents. There is a need to better understand the support parents need in their decision-making, and who is best placed to provide that support