Research is undertaken to investigate the impact on users of the requirement in APB Opinion 15 calling for reporting of fully diluted earnings per share amounts on income statements. An impact on users is inferred if, around the time of first reporting under Opinion 15, one can observe different patterns of stock prices between two groups of firms: a group which reported fully diluted earnings per share in the first financial reports issued under the Opinion and a group which did not. Such differential patterns were observed, but they began at least a year before the date Opinion 15 became mandatory.

Reviews the book "Market Value Methods for Intercorporate Investments in Stock, Accounting Research Monograph No. 2," by Reed K. Storey and Maurice Moonitz.

This study focuses on the influence of qualified opinions on auditor switches. Results from a random sample of SEC-registrants support the contention that firms switch auditors more frequently after receiving qualified opinions. However, it was not found that firms that have received qualified opinions switch systematically to audit firms with a history of rendering proportionally fewer qualified opinions. Also, limited results suggest that qualified firms which switch auditors do not tend subsequently to receive more clean opinions.