Measuring and Evaluating Replacement Costs: An Application
Replacement cost, Rule 3-17, Inventories, Estimators of replacement costs
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Practitioners' Views on Five-Year Educational Requirements for CPAs.
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.
Financial Accounting, An Introduction to Concepts, Methods, and Uses (Book).
Reviews the book "Financial Accounting: An Introduction to Concepts, Methods, and Uses," 3rd ed., by Sidney Davidson, Clyde P. Sticney and Roman Weil.
Earnings Per Share: An Empirical Test of the Market Parity and the Investment Value Methods.
The article presents the hypothesis that, both the Market Parity and the Investment Value method adequately discriminate between those convertible bonds that ultimately will convert from those that will not convert. When applying the Market Parity method in this study, the ratio of conversion value to market value of the bond was developed for four dates. The shorter period of two weeks and the longer period of two months were chosen for this study to provide a time period long enough so that the value of the bonds could be determined in the market. The offering price for the bond was used to determine the market parity ratio at, offering dates. The relative ranking of a given bond changed somewhat when computing the market parity ratio as of different dates. The first test is concerned with determining whether this variability in ranking was significant. The authors remark that, when implementing the Investment Value method, it is necessary to determine what the market value of the convertible security would be if the conversion option were not present.
A New Introduction to Financial Accounting.
Reviews the book "New Introduction to Financial Accounting," 2nd ed., by Robert G. May, Gerhard G. Mueller and Thomas H. Williams.