Knowledge that Transforms

Reviews the book "West's Federal Taxation: Individual Income Taxes," by Lawrence C. Phillips and William H. Hoffman.

Reviews the book "Federal Income Tax," by William O. Green and Ann H. Green.

Reviews the book "The Anatomy of Accounting," by A.D. Barton.

Reviews the book "Written Contributions of Selected Accounting Practitioners: Ralph S. Johns," vol. 1, edited by V.K. Zimmerman.

The article presents information about the book "Markets and Hierarchies: Analysis and Antitrust Implications," by Oliver E. Williamson. The book emphasizes the organization of economic activity within and between markets and hierarchies. It considers the transaction to be the ultimate unit of microeconomic analysis. Hierarchical transactions are those for which a single administrative entity spans both sides of the transaction, some form of subordination prevails, with, typically, consolidated ownership.

In a recent comment on Haim Falk and James A. Heintz's paper, Edward Blocher and Kung H. Chen re-emphasized the need for validation of the Falk and Heintz (F&H) proposed model and the application of Guttman's scalogram technique for risk analysis of equity securities. The purpose of this paper is to assess empirically the validity of F&H's model. Thus, 459 corporations were graded according to F&H's composite risk measure. This grading was then compared with three market-based risk measures. The market-based risk measures were derived by utilizing Sharpe's capital asset pricing model. The Standard and Poor 400 industrial index served as the basis for calculating the return on all capital assets in the market. In light of the additional effort and resources needed to adjust a traditional market price index for dividends, some researchers have ignored the dividend figures in measuring the market risk. While F&H's model gained substantial support on the company dimension, the usefulness of the industry factor has been found effective only if weak monotonic relationships are acceptable.

Reviews the book "Introductory Accounting," by Charles F. Grant.

Reviews the books "CPA Review: Theory, Practice, Auditing," and "CPA Review: Problems and Solutions," by David F. Fetyko and Elwyn L. Christensen.

ABSTRACT: Attitudes towards establishment of schools of accountancy of six potentially affected groups are examined. The semantic differential is used to measure attitudes and a different set of scales, known as the AB scales, are used to infer the underlying structure of the attitudes. The results of the semantic differential measure are consistent with prior studies in that deans are generally unfavorable to schools of accountancy and accounting department chairpersons and accounting practitioners are favorable. In addition, three new groups were tested with non-accounting business school faculty expressing a negative attitude, accounting faculty reflecting a positive attitude and students registering a slightly favorable attitude. The AB scales measure the underlying structure of the general attitudes and make it feasible to design strategies for changing the strength and direction of these attitudes.

Reviews the book "Independence of Auditors: Current Practices in Canada, the United Kingdom and the United States."