Knowledge that Transforms

Governmental accounting, China, Chou Dynasty, Budgeting

Several recent studies have been conducted to determine the level of job satisfaction, and the determinants thereof, among accountants.' All these studies utilized the Maslow theory, which is based on a hierarchy of needs.2 Maslow's theory has sometimes been criticized on philosophical, methodological and hierarchical grounds. The theory states that human needs are ordered; that is they range from lower-order to higher-order needs. As one need is adequately fulfilled, the individual moves to the next

Cost variance, Cost control, Capital investment decision

The purpose of this paper is to extend the results of the analysis [9] on the optimal timing of messages.' The model and theorems [9] are applicable to a situation involving the of a single (or aggregated) decision-making unit's performance terms of a single (or aggregated) goal. This goal need not be constant over time. The model used [9] is a continuous-time finite horizon model whose formulation and optimization involved the use of a finite-state continuous-time Markov process and tools from continuous-time optimal theory. In the present paper, attention is restricted to a two-state process. This restriction decreases the generality of the results return for a more specific model and more specific theorems. A two-state process is typically chosen for analytical treatment because of expositional convenience or practical applicability. The two states of the process are defined by the usual general descriptions: in control or consistent with goal(s) and out of control or inconsistent with goal(s). This type of process has been analyzed using mathematical programming, quality-control, and Markov chain techniques.2

APB Opinion No. 14, Convertible securities, Convertible Bonds, EPS

Managerial decision making, Budget adaptiveness, Budget Tightness

C-V-P Analysis, Uncertainty, Cost-volume-product Analysis, Volume changes

Management information processing, Managerial control, Performance, Information processing

Certified public accounting is a profession whose members are independent practitioners or members of firms rendering services in three broad areas: auditing, taxes, and management services.' In order to perform effectively selected tasks, professions rely on a certain amount of autonomy given by society. Along with the privilege of autonomy goes the responsibility of self-regulation. Any profession which fails to regulate effectively the professional behavior of its members risks the loss of its autonomy.2 As a profession, certified public accounting has the task of regulating the professional behavior of its members. The objective of this paper is to report findings on the ethical behavior of Certified Public Accountants.

I only wish I could have been with you throughout the day and tomorrow but since our annual partners meeting is currently under way, I believe you will understand why this is not possible. However, it is a pleasure for me to have this opportunity to be with you tonight and to touch, at least briefly, on some important matters which are and should be of concern to each of us. The subject of accounting principles has been discussed so often over the last few years there would seem to be little more to be said. But this is not the case. The accounting profession through the AICPA has always recognized that much more remains to be said and done to answer the many critics of our present structure and methods of establishing accounting principles: Today, however, we are experiencing renewed-or entirely new-thrusts from concerned bodies outside the profession. It is unfortunate that some, if not most, of these critics have been given their arena for comments as a result of past efforts of the APB or its predecessor committee. It is equally unfortunate that some outside of the profession have been able to seize on their pet areas without our having any better defenses than are currently available. I hasten to add at this point that I do not suggest that little or nothing has been attempted or accomplished by the profession or the APB. Neither do I want to leave the impression that those who have worked so diligently over the years have given less than their best efforts or that their motives have been suspect. No one could have been expected to work more diligently or tried harder to reach satisfactory conclusions than have the members of the APB. Such problems as have existed have stemmed to a large extent from the lack of unanimity of philosophy or understanding of the general objectives of corporate financial statements, despite the fact that one of the original charges given the APB upon its formation in 1959