Abstract ABSTRACT: This study analyzes the effect of two review strategies on performance, effort, and attitude measures. The two review strategies are compared with a control strategy that does not include a review treatment. The review treatments are administered through two separate testing procedures. One procedure includes individualized review questions on each succeeding examination. The other includes randomized review questions on succeeding exams. The results indicate that reviews are a cost-effective means of improving student performance. The random review treatment proved to be the more efficient strategy. Further, the data implied that students were unable to assess properly the benefits of reviews. This finding suggests that instructors should take the initiative to employ strategies that force students to review on a regular basis.
Abstract ABSTRACT: The FASB has issued computer data tapes for both pension disclosures and inflation-adjusted amounts. This note reports the results of a comparison of a sample of data from the FASB data tapes with amounts from the annual reports. This study warns future users of the tapes of potential pitfalls in their use. All errors have been reported to the FASB for their use in updating the tapes.
Abstract ABSTRACT: Prior research has shown that time-series models were able to make better predictions of prospective earnings by utilizing segmented data. Those results suggest that humans may be able to utilize segmented data to improve their forecasts. This study used analysts' forecasts to address this latter issue. Analyst forecast accuracy was evaluated before and after implementation of the SEC's line-of-business disclosure requirements that became effective in 1971. Three sample groups of companies were studied: multisegment firms that first reported segment earnings in 1971, multisegment firms that had voluntarily disclosed segment earnings data prior to 1971, and a group of single-segment firms that continued to report only on a consolidated basis. Analyst forecasts were evaluated for accuracy before and after mandatory segmented earnings reporting with a multivariate repeated measures ANOVA model. While it was found that both the mean and variance of forecast error decreased for all three groups, the most significant change was for multisegment firms without prior segment disclosures.
Abstract Reviews the book "Financial Statement Analysis: Using Financial Accounting Information," 2nd ed., by Charles H. Gibson and Patricia A. Frishkoff.
Abstract ABSTRACT: With the expanding body of knowledge required of CPAs, there has been significant support in recent years for expanding the educational requirement for accountants from four to five years. This paper reports the results of a questionnaire distributed to practicing CPAs regarding their opinions on the effect and impact of a required fifth year of accounting education. Issues covered include the perceived effects of additional education on the CPA examination passage rate, on the value of the employee to the firm and the profession, and on the supply of accountants. Preferences on the timing and content of five-year programs and the problems of reciprocity were also examined.