Financial Accounting.
Reviews the book 'Financial Accounting,' by Eric G. Flamholtz, Michael A. Diamond and Diana Troik Flamholtz.
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Intermediate Accounting.
Reviews the book 'Intermediate Accounting,' 5th ed., by Donald E. Kieso and Jerry J. Weygandt.
Foreign Exchange Risk Management under Statement 52, A Research Report/Determining the Functional Currency under Statement 52, A Research Report (Book).
Reviews the books "Foreign Exchange Risk Management under Statement 52, A Research Report," and "Determining the Functional Currency under Statement 52, A Research Report," by Thomas G. Evans and Timothy S. Doupnik.
A Reciprocal Service Cost Approximation.
This study proposes a new method for approximating service department costs when reciprocal services exist. Analytical results are provided demonstrating that, under certain conditions, the method produces approximations that converge to allocations under the theoretically correct reciprocal method. Numerical results are provided demonstrating that, the proposed method is more accurate than the two simplified allocation procedures, the direct and step methods, even when nontrivial parameter estimation errors are assumed. These results, based on sample statistics for hypothetical firm data, suggest that many real-world firms may be able to use the proposed method to make more accurate marginal cost assessments and, therefore, to Improve their service-related operating decisions.
Audit Qualifications in Australia 1950 to 1979 (Book).
Reviews the book "Audit Qualifications in Australia 1950 to 1979," by Allen Craswell.
The Scope of CPA Services: A Study of the Development of the Concept of Independence and the Profession's Role in Society.
Reviews the book 'The Scope of CPA Services: A Study of the Development of the Concept of Independence and the Profession's Role in Society,' by Gary John Previts.
Cases in Financial Reporting.
Reviews the book 'Cases in Financial Reporting,' 2nd ed., by Charles H. Gibson and Patricia A. Frishkoff.
Essays in Accounting Theory (Book).
Reviews the book "Essays in Accounting Theory," by Carl T. Devine.
Probabilistic Choice Models and Information, Studies in Accounting Research No. 24.
Reviews the book 'Probabilistic Choice Models and Information,' by Ronald W. Hilton.
An Empirical Examination of the Potential Measurement Error in Current Cost Data.
The Financial Accounting Standards Board (FASB) is soliciting empirical evidence on the accuracy of price indexes for estimating the current cost of machinery and equipment in compliance with Statement #33. Recent studies indicated that measurement errors in current cost data appear to dominate the potential information content of the Statement #33 disclosures. This study investigates the sign, magnitude, and sources of the potential measurement error in the estimates of current cost generated by alternative levels of specificity of the Producer Price Indexes (PPI). The research method consists of statistical analyses to examine the distributional properties of the PPI estimates compared to the criterion variable of the actual current order price of the assets. The results Indicate that, in general, the measurement error tends to be an overstatement of new current cost. The major sources of measurement error appear to be product mix errors, pricing errors, and inadequate adjustments for quality change. Product mix errors seem to be the dominant factor for Electrical and Miscellaneous Equipment, pricing errors for General Purpose Equipment, and inadequate quality change adjustments for Machine Tools and Special Industry Equipment.