Top PDF Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

additional wages and salaries to the workforce or transferred to the common consumption fund; any remaining surplus could be used for investment within the organization (Turk, 1988, p. 163). If the net income was negative, then taxes would be decreased or eliminated (Turk, 1988, p. 164). Clearly much re-education was required (Petrovic and Turk, 1995, p. 815). This has been recognized in the standard setting process, in that seven of the standards cover issues not covered by International Accounting Standards (SAS 16 ± ``Costs in Terms of Types, Centres and Units''; SAS 20 ± ``Budgeting''; SAS 21 ± ``Bookkeeping Documents''; SAS 22 ± ``Books of Account''; SAS 28 ± ``Accounting Supervision''; SAS 29 ± ``Accounting Analysis''; SAS 30 ± ``Accounting Information'') and are designed to be educational as well as prescriptive (Turk and Garrod, 1996, p. 154). Laudable though the educa- tional aspect of Slovene standards may be, it underlines the problems of any economy which changes its economic goals, aspirations and values over a short period of time. It is unrealistic to expect Slovene company accountants to assimilate these new concepts via accounting standards alone and to be producing substance over form and true and fair accounts (®nancial state- ments) immediately. The ongoing world-wide debate about asset and liability de®nitions, the nature and appropriate treatment of goodwill and accounting for brands and intangible assets indicates the complexity of the pro- blem (International Accounting Standards Committee, 1997, Appendix 3, pp. 67±109).
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

Our study considers if additional insight can be gained by analyzing ex- ternal audit-timing from a sample of cities for ®scal year-end 1996 and considers changes since 1982. The most likely factor increasing the time from ®scal year-end to the external auditor-report date (report time) is the im- portance of federal regulations that increase the complexity and risk of the ®nancial audits, especially the Single Audit Act of 1984 (USC, 1984). Federal regulation increased external audit requirements, including reports on inter- nal control and compliance with federal laws and regulations (USC, 1984). External audit reports and in some cases external auditor working papers are reviewed by federal and state agencies with oversight responsibilities (Deis and Giroux, 1992, pp. 468±470). These agencies document substandard ex- ternal audits and refer severely non-compliant external auditors to state boards of accountancy for remedial action (see, e.g., Deis and Giroux, 1992, p. 472).
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue3.Jun2000:

The ®rst one concerns the audit service contract. Early theoretical work in generalized audit settings suggests that managers are in a powerful position relative to auditors, primarily because managers can in¯uence audit fees and hire or ®re the auditor (Emerson, 1962; Goldman and Barlev, 1974, p. 710; Nichols and Price, 1976, pp. 338±340). However, in bank audits, management's position is much weaker. Unlike most businesses, banks are faced with two sets of outside evaluators ± the external auditor hired by the bank and the bank examiner. Although bank managers have a measure of economic power over their external auditor, they cannot ®re the bank examiner. Further, although non-bank management generally has wide latitude in negotiating the fees of external auditors, bank examiners do not charge a separate fee that can be threatened. 9 As a consequence, the power of bank management in an ac- counting con¯ict is likely much more limited than the power of non-bank management.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

BD and DPZ parallel DSS and Bradshaw et al. (1999), which focus on ®rms subject to SEC enforcement actions, by identifying ®rms manipulating earnings and then examining hypotheses about management's incentives and methods of managing earnings. In contrast, the designs of many prior studies rest on the joint hypotheses that ®rms manage earnings in response to speci®ed factors and that the proxy for discretion over earnings is suciently sensitive to detect it. BD and DPZ provide a powerful tool to the earnings management arsenal in that they identify contexts in which large number of ®rms appear to manage earnings. The approach also provides an indication of the frequency of manipulation, though this rests on an assumption about the distribution of earnings absent manipulation. As BD indicate, the as- sumption that the expected frequency in a given region is the average of the observed frequencies in the adjacent regions of the earnings distribution is not valid for the distribution of earnings after manipulation. This occurs because manipulation may have a€ected the adjacent regions around the hypothesized benchmark, and because manipulation may be re¯ected in other regions of the distribution.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

In addition to measures of changes in reimbursement methods, the second environmental factor considered is competition in the hospital industry. Khandwalla (1972, p. 280) examined competition and the use of management controls and found a positive association between competition and the use of nine management controls. That is, as competition increases, the expected bene®ts from management controls increase (Khandwalla, 1972, p. 280). Gordon and Narayanan (1984, p. 41) also found a positive relationship be- tween characteristics of information systems and a measure called perceived environmental uncertainty (PEU). Their (1984, p. 38) measure of PEU is based on seven questions which focus on competition for customers, products, technologies, and others. Results show that as PEU increases, ®rms tend to seek additional information for planning (1984, p. 42). For example, as competition intensi®es, decision makers consider external, non-®nancial, and ex ante information to be increasingly important (Gordon and Narayanan, 1984, p. 42). Gordon and Narayanan (1984, p. 42) suggest, therefore, that consideration of the (competitive) environment is critical in designing e€ective accounting information systems. As noted earlier, Anderson's (1995, pp. 41± 42) case study of the implementation of Activity-Based Costing (ABC) at GMC also found that ABC (one management accounting technique) was used primarily in GMC plants where competition created pressure to reduce product costs. My study measures competition as the number of short-term, general medical and surgical hospitals within a 25 mile radius of the sample hospital.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

2 SPECIALPECIAL ISSUESSUE ONON NATIONALATIONAL ACCOUNTINGCCOUNTING Contents National Accounting, Government Budgeting and the Accounting Discipline by ROWANOWANJONESONES National Ac[r]

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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Economic consequences of regulatory accounting in the nuclear power in- dustry: market reaction to plant abandonments, The, 161±187. E€ects of changes in cost allocations on the assessment of cost containment regulation in hospitals, The, 97±112. E€ect of relative performance evalua- tion on earnings management: a game- theoretic approach, The, 377±397. Empirical analysis of auditor report timing by large municipalities, An, 263±281.

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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Loeb, S.E., 1, 311 McLelland, A.J., 263 McNichols, M.F., 313 Mensah, Y.M., 3 Niskanen, J., 119 Niswander, F., 201 Paterson, J.S., 399 Reitenga, A.L., 189 Swanson, E.P., 201 Thomas, J., 347 Vafeas, N., 139 Watkins, A.L., 73 Watts, S.G., 377 Zhang, X.-j., 347

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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Inferences regarding type II errors also vary across prior research. Dechow et al. (1995, p. 194) found that power is low even for the models with the lowest standard error (the Jones and modi®ed Jones models had the lowest standard errors, with mean standard errors of about 9% of total assests for forecast accruals over their random sample of 1,000 ®rms). Earnings management would have to exceed 18% of total assets for the average ®rm (or 1% of TA for each ®rm in a sample of 300 ®rms) to generate signi®cant statistics that would reject the null hypothesis of no earnings management. Kang and Sivarama- krishnan (1995, pp. 361) paint a more optimistic picture, because they move from the individual ®rm level to samples of 100 ®rms each. When they seeded their ®rms with a random accrual that averaged 2% of total assests (it actually ranged between 0.064% and 30.469%), their rate of rejection of the null hy- pothesis at the 5% level increased from 5% (before seeding) to 23% for the Jones model (and 33% and 47% for their IV and GMM models).
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue4-5.2000:

Daniel Beneish has been Special Associate Editor for the next four articles in this issue of the Journal of Accounting and Public Policy (Vol. 19, Nos. 4/5). Those four articles were submitted as a result of his request for manuscripts pertaining to the management of earnings (see Beneish, 1998). We appreciate his work.

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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Although non®nancial information is also extensively used throughout the industry to evaluate hospital performance (GASB Report, 1990, p. 144; Sherman, 1986, pp. 29±31; Anderson, 1991, pp. 33±34; Moody Õ s Investor Services, 1994, p. 27; S&P, 1994c, pp. 68±71), these variables have not been included in prior analysis. Non®nancial information can consist of a wide array of information. Examples include: utilization information (also referred to as operational information) such as number of admissions, number of full-time equivalent employees, number of beds in service; socioeconomic characteristics of the market area such as the average age or income of the community ser- viced; and, medical sta€ characteristics like the concentration of patient ad- missions with a single physician (GASB Report, 1990, p. 144; Sherman, 1986, pp. 29±31; Anderson, 1991, pp. 33±34; Moody Õ s Investor Services, 1994, p. 27; S&P, 1994c, pp. 68±71). A hospital Õ s ®nancial performance may be in¯uenced by many of these factors which are external to the hospital or otherwise beyond its ability to change in the short run. For example, the ®nancial performance of a hospital may depend signi®cantly on the number of beds it operates, whether it is a teaching or nonteaching hospital, or the socioeconomic make-up of the community it services (McCue et al., 1990, p. 245; Craycraft, 1994, p. 48).
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

or per adjusted admission or per patient day) on control variables and a dummy variable equaling 1 for the PPS period. The coecient on this dummy variable represents the e€ect of PPS on costs. Commonly-used controls in- clude: quantity (patient-days, outpatient visits, or adjusted patient-days), hospital type (teaching or non-teaching), case-mix index, wage levels, and hospital competition measured by the Her®ndahl index of industry concen- tration in the county where the hospital is located (Hadley and Swartz, 1989, p. 40, for example). The main problem with this approach is that the e€ect on costs of any variable a€ecting costs, but not included among the regressors, is captured by the PPS dummy (a problem of correlated omitted variables). This is especially likely with time-related factors (i.e., any factor that changed after 1983). For example, if input prices declined after 1983 for reasons unrelated to the implementation of PPS, and the researcher uses a general price index to control for changing price levels, then the resulting decrease in costs will be unjusti®ably attributed to PPS. Conversely, if input costs increased after 1983 the researcher may not ®nd any cost savings even if PPS led to decreased re- source use. We avoid this problem by comparing inpatient costs with con- current outpatient costs. Any time-related factors omitted from the regression will not a€ect the results as long as their e€ects on inpatient and outpatient costs are similar. Thus our study complements previous research by using a time-series approach, thereby using each hospital as its own control.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

We examined the impact of hospital characteristics on capital expenditures across subperiods and found that the impacts of certain explanatory variables were statistically di€erent before and after CPPS. In response to CPPS, hospital managers have changed several ®nancial and operational characteristics, which could explain some aspects of the reduction of capital expenditures following CPPS. For example, the other-expense variable, which includes drugs, supplies, leases and rentals, was signi®cantly negative in the period subsequent to CPPS. This result indicates that operating leases and rentals may potentially substitute for capital expenditures. Other empirical results suggest that high-cost (low- cost) hospitals decrease (increase) capital expenditures following CPPS, once other factors are controlled for. This ®nding supports Medicare's expectations regarding the redistribution e€ect of the new regulation (Federal Register, 1991, pp. 43427±43428). An important public policy issue is that although reductions in capital expenditures may reduce health care cost, policymakers need to be cognizant of the potentially negative long-term impact on public health.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

In recognition of the importance of health care as a topic in discussion on national policy, the editors of this journal decided in 1996 to devote a special issue of the Journal of Accounting and Public Policy to the topic. In a guest editorial, I noted that I would serve as Special Associate Editor and I called for submission of papers on the topic (Mensah, 1996). In that guest editorial, I outlined some areas where research was needed to show what role accounting may have played and how it can also help in resolving the health care crisis (Mensah, 1996). The four papers in this special theme issue in which I have served as Special Associate Editor have not necessarily been all limited to the areas I identi®ed in the call for papers. Nevertheless, they all make unique contributions toward our understanding of the role of accounting in the health care context.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue1.Jan2000:

As he notes in his Guest Editorial in this issue (Mensah, 2000), Professor Yaw M. Mensah was Special Associate Editor for this special theme issue. In his guest editorial Mensah (2000) suggests that there is need for further re- search relating to healthcare and accounting (see Mensah, 2000; also see Mensah, 1996). We agree with his comment. Accordingly, researchers are en- couraged to submit manuscripts in that general area for editorial consideration at the Journal of Accounting and Public Policy.

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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

Our study examines the economic consequences of regulatory accounting policy with respect to the shareholders upon announcement of nuclear project cancellations. We extend the prior research by Chen et al. (1987). Chen et al. (1987, pp. 290±291) found no signi®cant market reaction to nuclear project abandonment announcements in the period 1974±1982 consistent with the theory that regulated utilities expected to be compensated for abandonment losses in rate adjustments. A partitioning of the sample into two periods, however, found signi®cant negative excess returns associated with the an- nouncement of nuclear power project abandonments in the period (1974±1978) prior to the Three Mile Island (TMI) nuclear accident in 1979, while signi®cant positive excess returns were found in the post-TMI period (1979±1982) (Chen et al., 1987, pp. 291±292). Chen et al. (1987, p. 293±294) attribute this result to changing investor expectations concerning the regulatory treatment of aban- donment costs. Speci®cally, Chen et al. (1987, pp. 293±294) suggest that after 1979 regulatory rulings allowing abandonment losses to be passed to, or at least shared by ratepayers, made ``abandonments more palatable to investors,'' and in conjunction with increased perceptions of risk resulting from the TMI acci- dent led investors to react positively to abandonment announcements. Chen et al. (1987) leaves several empirical questions unanswered regarding the in- teractions between regulatory accounting policies and the economic conse- quences to stockholders of nuclear project abandonments. To what extent did utility regulators compensate investors for abandonment losses by rate adjust- ments? Did investors expect to be fully compensated for abandonment losses? How did investors Õ expectations about the regulatory treatment of abandon- ment losses a€ect the market Õ s reaction to abandonment announcements?
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

In general, the results in Table 4 reinforce prior evidence. First, the earnings variable is positive and signi®cant; its coecient of 2.13 (1.95 in model 2) suggests that a change in de¯ated earnings by 1% leads to an analogous change in median-adjusted stock returns by 2.13% (1.95%). In contrast to Hypothesis 1, the outsider representation±earnings interactive term is insigni®cantly dif- ferent from zero, suggesting that board composition is not related to earnings informativeness, unconditionally. This result holds regardless of the de®nition of outsider representation. Importantly, there remain signi®cant di€erences in earnings usefulness across board-size categories even after controlling for nu- merous ®rm characteristics such as size, growth, board composition, ownership structure, systematic risk, and default risk. In fact, the interactive term coef- ®cient suggests that the di€erence in the earnings±returns relation between ®rms with large boards (with 12 or more members) and ®rms with small boards remains substantially unchanged compared to the di€erence suggested by model 3 in Table 3 which excludes the control variables (ÿ1:28 vs ÿ1:23, respectively). The persistence of this ®nding is interesting and remains in line with the increased monitoring e€ectiveness of smaller boards.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

My paper examines the relevance of capital intensity in explaining the cross-sectional variation in market returns to chemical industry ®rms following the Bhopal, India chemical leak. The Bhopal accident was expected to increase environmental regulation (see Blacconiere and Patten, 1994, p. 358), and negative market returns to chemical industry ®rms were observed (Blacconiere and Patten, 1994, p. 358). It is assumed that investors used capital intensity as a proxy for the level of pollution abatement controls presently in place. Consistent with this assumption, I found a positive, signi®cant re- lation between market returns and capital intensity. I also found that, in the presence of a capital intensity variable, environmental disclosures continued to be positively related to market returns. Ó 2000 Elsevier Science Ltd. All rights reserved.
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Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

Directory UMM :Data Elmu:jurnal:J-a:Journal of Accounting and Public Policy:Vol19.Issue2.Jun2000:

Our paper di€ers from previous studies in two ways. First, in addition to the aggregate di€erence between LAS and IAS earnings, we analyzed the value relevance of individual reconciling items of local GAAP to IAS earnings. More importantly, we conducted our analysis separately for two investor groups, foreign and domestic investors, who hold equity shares in these companies. During the period 1984±1992, the HeSE (Helsinki Stock Exchange) was a partially segmented stock market as unrestricted shares (available to both foreign and domestic investors) and restricted shares (available only to do- mestic investors) of the same set of companies were listed separately. At the same time, a number of ®rms listed on the HeSE provided non-mandatory local (Finnish) GAAP earnings and their reconciliations to IAS (see Kasanen et al., 1996, p. 286). This institutional setting is unique, and it allowed us to compare directly di€erences in the value relevance of the two earnings mea- sures across the two di€erent investor groups.
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Directory UMM :Data Elmu:jurnal:E:European Journal of Agronomy:Vol12.Issue3-4.Jun2000:

Directory UMM :Data Elmu:jurnal:E:European Journal of Agronomy:Vol12.Issue3-4.Jun2000:

wheat genotypes in 1993 – 1994 and with 30 geno- types in 1994 – 1995. Results presented here are from 20 genotypes common to both years. Except for VM014, a line from our plant-breeding pro- gramme, all the other genotypes are cultivars registered in France between 1946 and 1995 (Table 1). The cultivars were primarily chosen to ensure a wide range of heading dates. Two old cultivars, Cappelle and Etoile de Choisy, were chosen to see how they would perform at low N level compared with modern cultivars. They were registered in France in the late 1940s and Cappelle remained the most cultivated variety until the end of the 1960s. They were bred at a time when pesticides and chemical fertilisers were not commonly used and it could be assumed that they would do well at low N level.
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