This study evaluates the relation between security returns and funds-based earnings components. We document that proxies for market expectations of the components that are based on measures of historical serial- and cross-dependencies are substantially more accurate than random-walk proxies. Moreover, we detect significantly higher valuations of the operating cash flow component of earnings, relative to current accruals, when market expectations are represented using the dependency-based predictions. Such differential valuation is not detectable for random-walk representations. Contrary to results in Ali (1994), we find incremental information in unexpected cash flows over the whole spectrum (moderate and extreme) of unexpected cash flow realizations.

A 1978 survey of undergraduate tax courses offered at U.S. universities and colleges provides information about course content, instructional materials, and teaching methods for accounting professors involved with the design and implementation of the tax curriculum.

The task assigned the 1962 Courses and Curricula Committee of the American Accounting Association was "to develop criteria for selecting the content and quality of collegiate accounting educational materials to provide adequate instruction in the body of knowledge that is accounting." The 1961 Committee, which was kept intact for a second year, decided that this task was possible after it discarded other more limited objectives because they involved too many restrictive assumptions to produce useful conclusions. To reduce its task to manageable proportions, the Committee decided to exclude so-called "service" courses, in which accounting is taught primarily to students who are preparing for careers other than accounting careers. For example, the first course in accounting is not considered, since it is offered primarily for those students who do not plan to go on in accounting. As a result, these recommendations apply only to schools which have as one of their objectives educating college students who intend to enter the business world as accountants in industrial, governmental, or public accounting organizations.

The article focuses on the proceedings of the twelfth annual convention of the American Association of University Instructors in Accounting, held at Washington D.C., between December 28 and 29, 1927. After some introductory remarks by the organizers, papers were read by W. W. Nissley of the American Institute of Accountants, John R. Wildman of the company Haskins and Sells, David Himmelblau of Northwestern University, Evanston, Illinois, William A. Paton of the University of Michigan, Ann Arbor, Michigan, and J. L. Dohr of Greene and Hurd and of Columbia University, New York, New York. The second program meeting was given over to a discussion of various features of the federal income tax law. Johns Hopkins University's, Baltimore, Maryland, professor presided at the session and opened it with a brief statement introducing the speakers of the afternoon, all of whom were representatives of the Bureau of Internal Revenue. The third program session consisted of a joint meeting with the American Association of Collegiate Schools of Business. The general topic for discussion was "The Place of Accounting in Commerce Curriculum."

Workers plan and save for retirement throughout their careers. Individuals must navigate complex financial instruments and understand public and employer-provided retirement plan characteristics. Beginning when a worker is first hired, most employers provide the option to contribute to retirement saving plans. As workers near retirement, they face many choices that have considerable consequences for their retirement income security. At these two important periods, employers can provide timely information assisting workers in making choices that optimize lifetime wellbeing. Our research, conducted in cooperation with several large employers, illustrates the importance of employer-provided education in increasing worker understanding of several retirement-related issues.

This laboratory experiment explores the extent to which impersonal exchange emerges from personal exchange with opportunities for long-distance trade. We design a three-commodity production and exchange economy in which agents in three geographically separated villages must develop multilateral exchange networks to import a good only available abroad. For treatments, we induce two distinct institutional histories to investigate how past experience with property rights affects the evolution of specialization and exchange. We find that a history of unenforced property rights hinders our subjects' ability to develop the requisite personal social arrangements to support specialization and effectively exploit impersonal long-distance trade.

Efficiency in the Use of Technology in Economic Education: Some Preliminary Results by Kim Sosin, Betty J. Lecha, Rajshree Agarwal, Robin L. Bartlett and Joseph I. Daniel. Published in volume 94, issue 2, pages 253-258 of American Economic Review, May 2004

Estimating the Knowledge-Capital Model of the Multinational Enterprise: Reply by David L. Carr, James R. Markusen and Keith E. Maskus. Published in volume 93, issue 3, pages 995-1001 of American Economic Review, June 2003

Estimating the Knowledge-Capital Model of the Multinational Enterprise by David L. Carr, James R. Markusen and Keith E. Maskus. Published in volume 91, issue 3, pages 693-708 of American Economic Review, June 2001

We examine the consequences of the 2020 amendment to Exchange Act Rule 12b-2, which exempted low-revenue issuers from the ICFR audit requirement and reignited the debate among regulators, issuers, auditors, and academics about the costs and benefits of ICFR audits. We find that exempt issuers rarely obtain ICFR audits voluntarily, indicating they generally do not view such audits as cost beneficial. We also find that exempt issuers report fewer MWs than nonexempt issuers, although this effect is driven by a recent increase in MWs for nonexempt issuers rather than a decline in MW for exempt issuers. We find no evidence that exempt issuers misstate more frequently or that they have less informative control effectiveness disclosures. Overall, our findings suggest that the exemption was welcomed by affected issuers and did not materially impair reporting quality, informing the literature and ongoing policy discussions regarding the appropriate scope of ICFR audit requirements. Data Availability: Data are publicly available from the sources identified in the text.