Academy of Accounting and Financial Studies Journal

A double blind, refereed journal which publishes theoretical and empirical manuscripts in accounting and finance. It's primary objective is to expand the boundaries of the literature by supporting the exchange of ideas and insights which further the understanding of accounting and finance.

Articles from Vol. 6, No. 3, 2002

Accounting Diversity and the Value Relevance of Accounting Earnings and Book Value in Four Countries-The United States, the United Kingdom, Canada and Japan
ABSTRACTDiversities in accounting standards across different countries are of serious concern to the international investment community. Analysts, investors and security regulators have indicated that accounting differences can affect the usefulness...
Accounting for Acquisitions and Firm Value
ABSTRACTThe accounting of an acquisition is based on either the pooling or the purchase method. Pooling (or pooling of interests) treats the combined companies (acquirer and acquired) as though they had always operated as one company. The purpose of...
Analysis of Derivatives' Unrealized Gains/losses from Pre-Sfas 133 Disclosures: Banking Industry
ABSTRACTAccounting for derivative instruments has had tremendous attention in the financial press due to far-reaching and complex problems. The impact of SFAS 133 will not be fully reported in annual reports until well into the year 2002. It is imperative...
Comprehensive Income Reporting Concerns
ABSTRACTStatement of Financial Accounting Standards No. 130, Reporting Comprehensive Income, requires presentation of comprehensive income as part of a complete set of financial statements. However, researchers, members of the financial community, and...
CPAs' AWARENESS OF LITIGATION RISK
ABSTRACTThis study examines CPAs' awareness of the litigation risk imposed by audit services. Using CPAs from selected states, I compare perceptions of litigation risk to three objective measures of litigation risk. The first measure is an important...
Earnings Management: The Case of Other Postemployment Benefits and Sfas No. 106
ABSTRACTSFAS No. 106 dramatically changed the way firms account for other postemployment benefits (OPEBs). Firms must now record OPEB expenses on an accrual basis, which typically results in a much higher expense being recorded than under the cash basis...
Earnings Response to Auditor Switches Using a Multi-Tiered Auditor Classification
ABSTRACTPrevious studies have provided evidence indicating that the securities market values audits performed by large audit firms more then audits performed by smaller audit firms. This may be due to a perception that large audit firms provide higher...
Lease Financial Statement Accounting Practices, Types and Numbers for Hong Kong
ABSTRACTThe purpose of this research study was to investigate existing lease disclosure practices for financial statements in Hong Kong. Part of the purpose of this project is descriptive. The study classified, summarized and analyzed the lease accounting...
The Dual Role of Audit Evidence
ABSTRACTThe expression of an audit opinion is an implicit reflection of two conclusions based on evidence collected and processed during the audit: (1) that the risk of undetected material misstatement in the client's financial statements is appropriately...