Terry Jackson and Dr. Ron Worsham, SOAIS In the past year, a landmark Supreme Court decision changed the way restaurants calculate social security taxes related to employee tips. In the case of the United States v. Fior D’Italia, Inc. [2002-1 USTC ¶50,459], the Supreme Court ruled against Fior D’ Italia, Inc. by concluding that the […]
Accounting Fraud: Case Studies That Prepare Business Students to Defend Themselves from Unethical Colleagues
Stephen P. Hunt and Dr. Steve Albrecht, School of Accountancy and Information Systems Most business students will eventually work with an unethical colleague whose schemes must ultimately crumble. The unethical person could drag his coworkers and his company down with him. We must prepare today’s business students (tomorrow’s executives) to save their own names and […]
Managers Use of FAS No. 115 for Investment Securities to Manipulate Earnings
Joseph B. Hillstead and Dr. Ted Christensen, School of Accountancy and Information Systems In the wake of catastrophic accounting scandals involving companies such as Enron, WorldCom, and Andersen, investors and the Securities and Exchange Commission have become increasingly concerned about the quality of reported earnings. Wall Street earnings expectations may be overriding common-sense business practices. […]
Assessing the Fraud Risk Assessment: How Audit Firms are Applying the Recommendations in SAS 99
Jacob Given and Dr. T. Jeff Wilks, School of Accountancy & Information Systems Overview of Topic Area The United States is currently facing a perceived crisis in our financial reporting system. In recent years, a large increase in the number of financial frauds reported and subsequent business failures have led to concerns in both the […]
Nonverbal Cues Auditors Can Use To Detect Deceit
Brandon B. Buhler and Dr. W. Jeff Wilks, Accounting and Information Systems Over the past few years, investors in Corporate America have witnessed a rise in financial fraud. With escalating frauds in the business world, investors are more determined to gain assurance from the auditors of the financial statements. The Sarbanes-Oxley Act of 2002 also […]
Entrepreneurial Success Factors
Bryant D. Blanchard and Dr. Ervin Black, School of Accounting and Information Systems Every company has an entrepreneurial beginning. Some companies grow into huge corporations that provide thousands of jobs and generate millions in tax revenue, while other companies remain small and fight to stay in business from year to year. This observation prompts the […]
UPDATING THOMPSON ON REAL PROPERTY, THOMAS EDITION
Justin Wright and Dr. David Thomas, Accounting & Information Systems Thompson on Real Property, Thomas Edition is a comprehensive commentary on real property law. Each year, Dr. Thomas, Editor-In-Chief, produces a supplement to each volume of the treatise; the supplement updates both text and footnotes to the original volume and to the prior year supplement. […]
Outsourcing the Internal Audit Function and Other Factors Affecting the External Auditor’s Reliance Decision
David Wood and Dr. Douglas F. Prawitt, School of Accountancy and Information Systems Internal audit has undergone significant changes in the last few years. In particular, outsourcing of the internal audit function (IAF), often to large CPA firms, has grown in popularity as companies seek to reduce costs and to focus on core business competencies. […]
SAB 101 and the Quality of Earnings
Kevin Rasmussen and Dr. Theodore Christensen, SOAIS On December 3, 1999 the Securities and Exchange Commission (SEC) issued an important accounting regulation, Staff Accounting Bulletin 101 (SAB 101), in response to concerns that many publicly traded companies were recognizing revenues inappropriately. Prior to the release of SAB 101 many investors and Wall Street analysts suspected […]
Motivating Content Contributions to Online Communities: Towards a More Comprehensive Theory
David Olsen and Dr. Conan Albrecht, School of Accountancy and Information Systems Administrators of online groups face challenges in making their information attractive to users. Large groups with a lot of information must attract new users while retaining current users. Because users of large groups can get overwhelmed by the volume of information available, they […]