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. 16 SI, November

A Model of Municipal Disclosures Using Exploratory Factor Analysis
SUMMARY OF STUDY The disclosure compliance model, as developed in this study, has four basic constructs that form the underlying theoretical basis of a municipality's degree of financial statement disclosure compliance. The socio/economic environment...
An Analysis of the Obstacles of Culture, Government, and Lack of Support for International Financial Accounting Standards
OBSTACLES FOR IFRS International markets are becoming more and more common in today's society; people are investing in stocks in foreign countries and doing business overseas with regularity. The world is quickly becoming more interconnected and...
Choosing a Place along the IFRS Adoption Continuum: The Perspective of U.S. Corporate Accountants
INTRODUCTION The International Financial Reporting Standards (IFRS) adoption continuum ranges from no formal action to complete IFRS conversion. Currently over 100 countries and 12,000 companies have adopted some form of IFRS; this includes many...
Comprehensive Variance Analysis Based on Ex Post Optimal Budget
INTRODUCTION This study offers a new framework for measuring and interpreting profit, cost, and inventory variances. An optimized revision of the static budget developed at the end of the budget period constitutes the core of the proposed method....
Greece Debt Crisis: Causes, Implications and Policy Options
INTRODUCTION After joining the Economic and Monetary Union (EMU) of the EU in 2001, Greece ran large deficits averaging 7 percent of GDP between 2003 and 2008. Although the outbreak of the global financial crisis in fall 2008, the Greek government...
Role of Speculators in Agricultural Commodity Price Spikes during 2006-2011
INTRODUCTION Agricultural futures markets primarily function as a mechanism for discovering prices, facilitating financing, and managing market risks associated with price variability and stock holding. Unfortunately, recent volatility and high...
Why Do Small Businesses Take on High Levels of External Loans? A Censored Quantile Regression Analysis
INTRODUCTION Small businesses created 64 percent (14.5 million) of the net new jobs during the period of 1993-2008 (U.S. Small Business Administration (SBA), 2009). Though they make significant contributions to the economy, these firms are especially...