Reviews the book "West's Intermediate Accounting," edited by Vincent C. Brenner.

Reviews the book "Transfer Pricing and Multinational Corporations: An Overview of Concepts, Mechanisms and Regulations," by Sylvain R.F. Plasschaert.

[Accounting policy makers and taxation authorities have been concerned with the understatement of depreciation expense that can accompany the use of generally accepted depreciation procedures. In addressing this concern, the taxation authorities have adopted a new method of historical cost depreciation known as the Accelerated Cost Recovery System (ACRS). Accounting policy makers, on the other hand, have addressed the "underdepreciation" issue with an experimental program of current cost depreciation disclosure. This paper presents a comparative analysis of the depreciation charges associated with the ACRS and current cost depreciation systems. The results of the analysis show that, for a variety of growth and price change conditions, the ACRS and current cost procedures can provide similar depreciation charges. As such, the ACRS techniques can alleviate considerably the "underdepreciation" effects that have been associated with some of the traditional historical cost depreciation methods.]

Reviews the book "Internal Control and the Impact of the Foreign Corrupt Practices Act," by A. Rashad Abdel-Khalik.

Reviews the book "Cost Accounting: Accounting Data for Management's Decisions," by Nicholas Dopuch, Jacob G. Birnberg and Joel S. Demski.

In response to ever-increasing enrollments, the accounting faculty of the University of Missouri-Columbia (UMC) instituted a 2.60 overall grade-point average (GPA) requirement for entry into its undergraduate curriculum. This standard has now been in effect for approximately five years and has had the expected result of decreasing enrollments by 30-35 percent. However, questions about the equity of the standard have been raised, especially regarding transfer and nontransfer students. To address these issues, the relationships between 11 independent variables and the subsequent performance of 400 UMC undergraduate accounting students were studied. The results indicate that entering GPA is the single best predictor of subsequent academic performance, although certain other factors (especially in the case of transfer students) also appear to be useful in this regard.

Reviews the book "Municipal Financial Reporting and Disclosure Quality," by Ronald M. Copeland and Robert W. Ingram.

Accounting policy makers and taxation authorities have been concerned with the understatement of depreciation expense that can accompany the use of generally accepted depreciation procedures. In addressing this concern, the taxation authorities have adopted a new method of historical cost depreciation known as the Accelerated Cost Recovery System (ACRS). Accounting policy makers, on the other hand, have addressed the "underdepreciation" issue with an experimental program of current cost depreciation disclosure. This paper presents a comparative analysis of the depreciation charges associated with the ACRS and current cost depreciation systems. The results of the analysis show that, for a variety of growth and price change conditions, the ACRS and current cost procedures can provide similar depreciation charges. As such, the ACRS techniques can alleviate considerably the "underdepreciation" effects that have been associated with some of the traditional historical cost depreciation methods.