Financial Reporting Journal - Summer '96
CONTENTS
PRESIDENT'S LETTER Eugene E. Comiskey Georgia Institute of Technology
The August AAA convention in Chicago will mark the close of my term as President of the Section. It has been an honor to serve. Our President-Elect, Wayne Landsman of the University of North Carolina, will assume leadership of the Section at the business meeting in Chicago. As President, Wayne will serve as a member of the AAA Council. Since our Section membership exceeds 1,000, we are allowed two representatives on Council. Linda Bamber of the University of Georgia will continue for a second year as our second representative. Tom Frecka of the University of Notre Dame also will continue in the second year of his term as Secretary-Treasurer. Mike Crooch of Arthur Andersen LLP completes his two-year term as Vice-President (from practice). The Section has benefitted greatly from Mike's wise council. Robert Swieringa of the Financial Accounting Standards Board/Yale University has agreed to stand for election to President-Elect and John T. Smith of Deloitte & Touche for Vice-President (from practice). Bill Collins of the University of North Carolina at Greensboro will pass on the Editorship of our newsletter, the Financial Reporting Journal, to Chuck McDonald of the University of Florida. Bill has served the Section from its inception, initially as Secretary-Treasurer. Last year, he agreed to continue to serve the Section as Editor of the Financial Reporting Journal as part of our decision to separate the Journal editorship from the duties of the Secretary-Treasurer. With a long-term interest and participation in CPE activities, Bill has agreed to continue his service to the Section as Chair of the newly created CPE committee. The Section has benefitted tremendously from Bill's past contributions and I am delighted that he will continue to serve in this new capacity.
Membership
Membership in the Section continues to grow and currently totals 1,377,
up from 1,240 last year. Membership is distributed as follows: full U.S.
members, 910; full international members, 359; and associate members, 108.
Section's Role in Regional Meetings
We owe a significant debt
to the Section's Regional Coordinators. The Regional Coordinators represented
the Section at the seven regional meetings held this spring. They handled the
demanding job of getting financial accounting and reporting manuscripts
reviewed and arranging the Section's representation on the regional programs.
The quality of the programs arranged by our Coordinators was truly impressive.
My sincere thanks go to Rob Bricker, Robert Lipe, Gerald Lobo, Susan Pourciau,
Heibatollah Sami, Bob Vigeland, and David Ziebart.
Planned Section Activities at the 1996 Annual Meeting
The Annual Meeting Program Committee, initiated this year and chaired
by Greg Waymire of Emory University, had a formidable task. Over two hundred
manuscripts were submitted and Greg employed all of the approximately 156
Section members who volunteered to serve as reviewers. Greg's committee
included: Kirsten Ely (Emory), Jenny Gaver (University of Georgia), Steve
Goldberg (Georgia Tech), and Kumar Sivakumar (Georgia State). Greg was able to
assemble his committee for two meetings in Atlanta at a very small cost to the
Section due to the geographical proximity of its members. My hope is that this
model of naming a chair from an area with a concentration of colleges and
universities can continue to be employed as a device for managing this critical
and expanding activity. Greg and his committee did a great job. From the
submitted manuscripts, they arranged thirteen research sessions that include a
total of approximately 40 presentations. In addition, the program developed by
Greg and the plans he has formulated should make the task even more manageable
for the 1997 Program Committee Chair. In addition to the research paper
sessions arranged by the Annual Meeting Program Committee, the following four
panel sessions were developed by the Section officers, along with Greg Waymire,
Linda Bamber and Bill Collins:
Thursday, August 15, 1996
4:00 - 5:30
Accounting Theory and Equity Valuation Panel: Gerald A. Feltham,
University of British Columbia and James A. Ohlson, Columbia University.
Moderator: Paul M. Healy, Massachusetts Institute of Technology
Friday, August 16, 1996
10:15 - 11:45
Securities Law Tort Reform: Its
Implications for the Profession Panel: William R. Kinney, Jr., University
of Texas at Austin; Carl Liggio, Dickenson, Wright, Moon, Van Dusen &
Freeman, Chicago; and Robert Mednick, Arthur Andersen LLP and 1996/97 AICPA
Chairman. Moderator: Charles L. McDonald, University of Florida
2:15 - 3:45
Contemporary Issues in Standard Setting
Panel: Dennis R. Beresford, Chairman, Financial Accounting Standards Board
and Michael H. Sutton, Chief Accountant, Securities and Exchange Commission
Moderator: William A. Collins, University of North Carolina at
Greensboro
4:00 - 5:30
Innovative Teaching of Financial Reporting from a Decision Perspective in
Intermediate, M.ACC and MBA Courses
Panel: Richard E. Brownlee, University of Virginia, Darden School; E.
Daniel Smith, University of Georgia; and James M. Wahlen, University of North
Carolina at Chapel Hill Moderator: G. Peter Wilson, Massachusetts Institute of
Technology
Section Luncheon
The Section Luncheon will be held on Thursday, August 15, beginning at noon
and concluding by 2:00 pm. As was true last year, the luncheon is subsidized by
the Section to encourage participation by as many Section members as possible.
G. Michael Crooch of Arthur Andersen LLP and current Chair of the AICPA's
Accounting Standards Executive Committee will be the luncheon speaker. Section
members are encouraged to sign up quickly since capacity is limited.
Business Meeting
The business meeting will be held on Thursday following the luncheon. It is
scheduled to begin at 2:15 pm and conclude by 3:45. The agenda for our meeting
is presented immediately following this letter.
FASB and SEC Support of the Section
We appreciate the continuing support provided to the Section by the
FASB and the SEC. In an effort to keep us informed of their activities and to
promote our involvement, Denny Beresford and Mike Sutton again will present
their very popular panel discussion at the Annual Meeting. The FASB also
continues to provide us with copies of their Status Report, three issues
of which are included in this mailing. Terry Warfield, the current SEC Academic
Accounting Fellow, provides an update of current SEC accounting-related
developments later in this Newsletter, an update that began in our last
Newsletter. I encourage you to stay current and be involved in the
activities of both the FASB and the SEC. I further encourage you to be involved
in the activities of the Section. At the Section luncheon and business
meeting, I'll brief you on some additional Section activities that are under
consideration. I look forward to getting your feedback on these proposals and
hearing about other activities in which you think the Section might become
involved.
FINANCIAL ACCOUNTING AND REPORTING SECTION BUSINESS MEETING AGENDA
Report from the Section President, Eugene E. Comiskey Report from the
Immediate Past-President, Jim Largay, Chair of the Nominations Committee and the
taking of nominations from the floor Vote by attending Section members on
nominations for President-Elect and Vice President (from practice) Financial
report and budget presentation by the Secretary-Treasurer, Tom Frecka, followed
by a vote from attending Section members on the proposed 1996/97 budget
Assumption of office and remarks, including an update on the Section's planned
research conference, by the incoming President, Wayne Landsman Consideration
and vote on the following changes affecting the by-laws:
1. To
change the by-laws to assign responsibility for selection and appointment of
Regional Directors and Regional Director-Elect to the duties of the
President-Elect from those of the President. Comment: This simply conforms the
by-laws to what has evolved as the practice of the Section.
2. To
add the position of Editor of the
Financial Reporting Journal to the list of Section Officers. This will
entail removing duty number three from the current set of duties of the
Secretary-Treasurer. Further, this will require adding the Editor to
those included on the Executive Committee. Comments: The position of the
Editor of the Financial Reporting Journal is a significant assignment in
its own right. Further, it was felt that the duties of Secretary-Treasurer
should not include the responsibility for production and distribution of the
Journal.
3. To add selection of the Section's second member
of Council to the responsibilities of the Nominating Committee, with the term
of the member selected to be for one year. In addition, service on the Council
would be added to the listed duties of the President. Comment: The growth in
Section membership to above 1,000 permits a second representative from the
Section to the Council. In the spirit of including more members in the
Section's activities, selection from other than the Section's officers was and
is seen to be desirable.
4. To add an additional award for the
best financial accounting and reporting paper presented at the Annual Meeting
of the Association. As with the
Best Paper Award (an award instituted in 1995 for a paper "published"
in the three years prior to the award year), an appropriately inscribed
certificate and a cash prize (initially set at $1,000 total) would be presented
to the authors(s) of the winning paper at that year's Section meeting held
during the AAA's Annual Meeting. Selection would be made by the Annual Meeting
Program Committee. At least one author of the paper would be required to be a
member in good standing of the Section.
CURRENT DEVELOPMENTS IN THE OFFICE OF THE CHIEF
ACCOUNTANT OF THE U.S. SECURITIES AND EXCHANGE COMMISSION
Terry D. Warfield Academic Accounting Fellow1
The purpose of this column is to provide an overview of some
recent activities in the Office of the Chief Accountant at the U.S. Securities
and Exchange Commission. From a general perspective, the federal securities
laws attempt to achieve two things. First they seek to protect investors and,
second, they seek to facilitate informed investment decisions. Both of these
objectives rely on financial reporting as a means to their achievement. Thus,
when an issue arises which raises questions about whether financial reporting is
meeting the needs of investors in making informed analyses and investment
decisions, the staff is likely to get involved. Each of the three topics
discussed below represent different types of initiatives that are intended to
address contemporary financial reporting issues. Specifically, the topics
discussed include (1) a proposed rule to expand disclosures on market risks and
financial instruments, including derivatives; (2) a recent Staff Accounting
Bulletin related to treasury stock purchases following a business combination,
and (3) a symposium held at the Commission on the accounting and reporting of
intangible assets.
Derivatives Disclosures
Derivatives use and accounting has received considerable attention in the
popular press, highlighted by some notable losses involving derivatives.2
A primary reason why derivatives have become such an important financial
reporting issue is that many investors need help in understanding derivatives
and the related risks and uncertainties. The Association for Investment
Management and Research and the AICPA Special Committee on Financial Reporting
(Jenkins' Committee) both report that investors are "confused" or "confounded"
about the financial statement impacts of certain derivative and other complex
financial instruments.3 These reports, along with banking
regulators and other private sector entities, such as the Group of Thirty, have
been calling for improved reporting on these activities.4
To improve investor understanding of derivatives, there are two
fundamental but significant issues that must be addressed. First, the
accounting model for derivatives needs to be improved. Second, we need more
informative disclosures about derivatives and related risk management
activities. With respect to the accounting for derivatives, the FASB is
continuing to work on a standard that is intended to improve the accounting for
derivatives. In general the FASB is attempting to craft a standard that will
address the accounting for many recently developed instruments, not presently
covered in the accounting literature, while at the same time bringing the fair
values of those instruments out of the footnotes and onto the balance sheet. On
the disclosure front, in 1994 the FASB issued Statement of Financial
Accounting Standards No. 119, "Disclosure about Derivative Financial
Instruments and Fair Value of Financial Instruments" (FAS 119) to improve
the disclosures about derivatives. During 1994 and 1995, the staff at the SEC
reviewed the annual reports of over 500 registrants to assess the quality of
disclosures related to derivatives and other financial instruments and to
determine if additional information is needed. The results of the review
indicated that while FAS 119 did have a positive effect on disclosures in this
area, better disclosures were needed about the effects of derivatives on
financial statements.
Proposed Commission Rules
In December, 1995, the Commission issued a release for comment related
to disclosures about derivative financial instruments, other financial
instruments and derivative commodity instruments (the "Release"). The
Release contains proposed amendments to Regulations S-X, S-K and various forms,
including Form 20-F, and certain interpretive guidance. Specifically, with
respect to S-X requirements, the Release proposes a comprehensive description of
the accounting policies used to account for derivatives. In essence, the
Release makes explicit the disclosure requirements set forth in FAS 119 and, if
adopted, would extend those requirements to derivative commodity instruments.
The Release also proposes that registrants present quantitative information
about market risk at the end of the most recent reporting period. Essentially,
these amendments to Regulation S-K would require the quantitative information
that is encouraged to be disclosed by FAS 119. Registrants would meet these
requirements in one of three ways: 1) tabular information regarding expected
future cash flow amounts by expected maturity dates for market risk sensitive
instruments; 2) a sensitivity analysis expressing the possible loss in earnings,
fair values or cash flows of market risk sensitivity analysis expressing the
possible loss in earnings, fair values or cash flows of market risk sensitive
instruments from selected hypothetical changes in market rates or prices; or 3)
value-at-risk disclosures expressing the potential loss in earnings, fair
values, or cash flows of market sensitive instruments from market movements over
a selected period of time with a selected likelihood of occurrence. Also
proposed is a narrative disclosure of the registrant's primary market risk
exposures and how the registrant manages those exposures. These proposals
expand certain of the requirements of FAS 119 to encompass derivative commodity
instruments, other financial instruments, and trading instruments. Interpretive
guidance also is provided to remind registrants to disclose the effects of
derivatives on interest rates and repricing of characteristics of debt
obligations. These disclosures are designed to report how derivatives can
modify reported items and remind registrants of items that should already be
disclosed in their filings. The Commission is seeking comment on these
amendments until May 20, 1996. The text of the proposed amendments, as well as
documents related to other issues discussed in this column, can be accessed on
the Commission's Internet website (http://www.sec.gov ). The Release just
discussed provides the Commission's current thinking on disclosures related to
derivatives and financial instruments and represents an initiative to improve
disclosures, thereby meeting the mandate of investor protection. Another recent
development at the Commission also addresses this mandate by providing
accounting guidance related to business combinations.
Treasury Stock Acquisitions Following a Business Combination
In March 1996, the staff of the Commission issued Staff Accounting
Bulletin 96 (SAB 96), regarding the effect of treasury stock acquisitions
following consummation of a business combination accounted for as a pooling of
interests. SABs set forth the staff's interpretation of generally accepted
accounting principles with respect to particular transactions. In this case,
the staff had noted diversity in practice when applying the accounting
literature (primarily
APB Opinion No. 16) to business combinations, when treasury stock
repurchases are an element of the deal. The objective of SAB 96 was to provide
additional guidance to help clarify acceptable practice and prevent
inappropriate interpretations of the accounting literature in this area. The
following discussion provides some background on the issue, and discusses the
main elements of SAB 96. The actual text of SAB 96 is accessible on the
Commission's website (address above).
Background
APB Opinion No. 16 provides guidance on whether a business
combination should be accounted for as a purchase or a pooling. Generally, when
cash or other assets are used to effect the combination, purchase accounting is
used. In purchase accounting, the combination is accounted for at fair value
and goodwill and other intangible assets often are recorded. Amortization of
these intangibles is charged to future earnings. In a pooling of interests, the
assets and liabilities of the separate entities are combined at their
historical cost bases; thus no goodwill and subsequent amortization charges to
earnings arise. This explains in part many companies' preference for pooling
of interests accounting for business combinations. Furthermore, a company that
effects a business combination by issuing shares may want to offset some of the
share dilution by reacquiring treasury stock following the business
combination. In this regard, APB Opinion No. 16 notes that a direct or
indirect agreement to reacquire part of the shares issued to effect the
combination, or other arrangements that will benefit a stockholder, "negates
the exchange of equity securities," which provides the basis for pooling
of interests accounting. The SEC previously has provided guidance in ASR 146
and ASR 146-A on the circumstances when pooling of interests accounting is
precluded because of treasury stock transactions.5
Specifically, pooling of interests accounting is precluded if the
combination includes a distribution of assets to redeem equity that ultimately
results in part cash consideration in the combination. However, the primary
focus of the guidance in these releases is on preconsummation treasury stock
transactions. While it is noted that significant reacquisitions "closely
following" a combination may preclude pooling accounting, little additional
guidance existed that clarified how soon after a combination shares could be
repurchased and the numbers of shares that could be repurchased without raising
questions about the appropriateness of pooling of interests accounting.
Elements of SAB 96
The focus of SAB 96 is whether, and under what conditions,
announcements of future purchases of treasury stock would violate certain
provisions of APB Opinion No. 16, thereby precluding pooling of
interests accounting. SAB 96 provides the staff interpretation on four issues.
First, intentions to reacquire treasury stock following the business
combination would preclude pooling treatment. Generally planned transactions
to reacquire treasury stock within two years of consummation should not exceed
10 percent of the outstanding shares of any of the combining companies.
Second, actions prior to and following the consummation of the deal will be
considered in assessing whether the company had an intention to reacquire
shares in the combination. Actions within six months of consummation are
presumed to relate to intentions at the time of the consummation. Announcement
of buyback plans and actual repurchases are examples of actions that lead to a
presumption that there were intentions to repurchase shares at the time of the
combination. Some companies have share repurchase plans in place before the
combination (e.g., as part of a capital management plan). The third issue
addressed in SAB 96 addresses how such plans affect an assessment of
intentions. Specifically, intentions to resume a share buyback plan that would
have violated pooling of interests criteria if that plan was executed before
consummation, are not viewed any differently than the intention to reacquire
shares under a new plan (formulated at the time of the business combination).
Finally, SAB 96 notes that since all shares of the same class of stock are
fungible, it does not matter who sells the shares (parties directly involved in
the combination versus non-participating shareholders) when determining whether
a company has reacquired shares issued to effect the combination. The proposed
rules on derivative and financial instrument disclosures and the recent SAB on
treasury stock acquisitions represent responses by the Commission to disclosure
and accounting problems that are designed to result in more immediate
improvements in the financial reporting environment. A third recent initiative
at the Commission has a decided future orientation with respect to an
accounting and reporting issue--the accounting and reporting of intangible
assets.
Intangible Asset Symposium
On April 11 and 12, 1996, the SEC sponsored a day and a half symposium
on the financial accounting and reporting of intangible assets. A growing
sector of the economy is comprised of firms for which the current accounting
model does not recognize or measure important assets in the balance sheet or
results of certain activities in the period in which the benefits of the
expenditures are realized. In may respects, the accounting and reporting of
these intangible or "soft" assets is characterized by a tradeoff
between the reliability and relevance of information about the activities
represented by these items. For example, there can be significant amounts
invested by companies in employee and other training, and the development of
intellectual capital and research and development (R&D) that are not
recognized as assets. For some companies, there can be internally-developed
brands, customer loyalty and satisfaction levels that are all unrecorded.
However, in each of these instances, reliability of measurements present
substantive issues. Because of these concerns, under the current accounting
model expenditures for these items typically are treated as a charge to earnings
as incurred. The primary focus of this symposium was on the future of
reporting. Given the growth trend of activities represented by intangible
assets, it was felt that it would be worthwhile to begin a dialogue on these
issues to ensure that the financial reporting model is responsive to future
demands for information about these activities.
Elements of the Symposium
To further this dialogue, the symposium was comprised of four panels,
each of which represented a different financial reporting constituency: (1) a
user panel explored the usefulness of current reporting with respect to
intangibles, as well as other sources of such information; (2) a preparer panel
discussed the nature and types of intangible assets and ways of measuring these
assets for internal needs and the challenges to reporting on these activities
externally: (3) an academic panel presented the results of recent research on
intangible assets, including the market valuation of R&D and customer lists,
and a recent study on the measurement and market valuation of customer
satisfaction; (4) an accounting regulator and standard-setter panel discussed
their experiences developing accounting standards for intangibles. Each panel
had some international representation to explore these issues from a non-U.S.
perspective. A final round-table discussion among participants in the prior
panels reviewed the major issues raised in those sessions, identified areas
requiring additional research, and discussed future steps that might be taken to
address these issues.
Summary of Discussion
While it is difficult to summarize the entire discussion in this short
space, the following themes did emerge from the discussion at the symposium: 1.
There was general agreement that this is a timely issue and one that deserves
thought and discussion now, in order to maintain the relevance of the financial
reporting model. 2. While most agreed that information on these activities is
increasingly important, participants representing users, preparers, and
regulators raised substantive concerns about expanded recognition of intangibles
in the financial statements. These concerns derive primarily from doubts about
the reliability of intangible asset measures. 3. Several participants agreed
that disclosures about intangible assets could be improved to give financial
statement users a better picture of the value of these assets, including some
insights into the returns on activities related to intangible assets (e.g., R&D
expenditures). 4. Nonetheless, developing standards or rules for reporting on
these activities will be difficult, because of the wide range of
intangible-related activities, the value of which can vary dramatically across
industries and firms. Some participants recommended increased experimentation
by preparers to expand and improve disclosures in these areas. The discussion
at the symposium contributed to achieving a number of the objectives of the
conference by increasing understanding of the scope of activities involving
intangible assets, including how companies manage and monitor these activities
internally, as well as the nature and extent of financial reporting on these
activities. In addition, there was a healthy exchange of views from the
perspective of the various reporting constituencies on the issues that need to
be addressed to improve reporting on intangible assets. While the Commission
currently is not proposing rules in this area, it was hoped that the symposium
would provide information to help both the SEC and private sector
standard-setters to respond to these issues within the framework of their
respective rule-making processes. We are still receiving feedback from
participants with respect to where to go from here, in light of the discussion
at the symposium. In addition, the staff is assembling a compendium of
materials from the conference, including background papers presented and a
transcript of the proceedings. These will be made available through the Public
Reference Room at the Commission; some materials may be accessible on the
Commission's web page.
Summary
This review of three recent developments at the Securities and Exchange
Commission provides insights into the various ways that the Commission and its
staff address current and evolving financial accounting and reporting issues.
Each of these efforts are focused in some way on maintaining or improving the
quality of financial reporting as a basis for informed investor decisions. Such
efforts reinforce the importance of financial reporting in achieving the
overriding objective of the security laws--investor protection.
Endnotes
1 The Securities and Exchange Commission as a matter of
policy, disclaims responsibility for any private publications or statements by
any of its employees. The views expressed are those of the author, and do not
necessarily reflect the views of the Commission or the author's colleagues on
the staff.
2 For example, see "Is Corporate Hedging Really
Speculation?" Wall Street Journal (July 20, 1995):C1.
3 AICPA Special Committee on Financial Reporting, Improving
Business Reporting--A Customer Focus: Meeting the Information Needs of
Investors and Creditors (1994), and AIMR, Financial Reporting in the
1990s and Beyond (1993).
4 Group of Thirty. Derivatives: Practices and
Principles. (July 1993).
5 SEC Accounting Series Release 146, "Effect of Treasury
Stock Transactions on Accounting for Business Combinations (August 24, 1973),
and SEC Accounting Series Release 146A, "Statement of Policy and
Interpretations in Regard to ASR No. 146 (April 11, 1974). A recent article in
the New York Times discusses a transaction that reflects a number of
these issues "In Bank Merger, It's a Matter of Accounting." New
York Times (December 21, 1995):D1.
CHIEF ACCOUNTANT SELECTS ACADEMIC FELLOW
The Securities and Exchange Commission's Office of the Chief Accountant
(OCA) recently selected Professor Robert C. Lipe of the University of Colorado
as Academic Accounting Fellow for a one year term beginning August, 1996.
Currently, Professor Lipe is an associate professor of accounting in the College
of Business Administration at the University of Colorado at Boulder. He
received MBA and Ph.D. degrees from the University of Chicago and a BA in
accounting from North Carolina State University. Professor Lipe has published
numerous articles on how stock prices relate to the information in annual
accounting earnings and on the effects of footnote disclosures made in lieu of
balance sheet recognition. He serves as Associate Editor for the Journal
of Accounting Literature and was formerly an editorial board member of The
Accounting Review. At the Commission, the Academic Accounting Fellow
serves as a research expertise resource for the Staff by interpreting and
communicating extant research materials as they relate to various projects in
process or general areas of interest to the SEC. In addition, the Academic
Fellow has been assigned to mainstream OCA projects, including rule-making,
liaison with the professional accounting standard-setting bodies, and
consultation with registrants on accounting and reporting matters. Professor
Lipe will replace the current Academic Accounting Fellow, Terry Warfield, who
will return to academic duties at the University of Wisconsin in August.
ACADEMIC ACCOUNTING FELLOW SELECTION PROCESS
The AAA's SEC Liaison Committee is working with the SEC's Office of the
Chief Accountant in identifying members of the AAA and others interested in
spending an upcoming sabbatical or other leave at the SEC as the Academic
Accounting Fellow. Please direct applications for the 1997/98 academic year (a
letter indicating interest in and reasons for pursuing the Fellowship, along
with a current VITA) to Professor Jim Boatsman, Chair, AAA SEC Liaison
Committee, Arizona State University. Questions about the program may be
directed to Professor Boatsman (602) 965-6616.
NOMINATIONS FOR EDITOR: JOURNAL OF
MANAGEMENT ACCOUNTING RESEARCH
The AAA Management Accounting Section is seeking nominations for
Editor of their Journal of Management Accounting Research. The incoming
editor is expected to serve, starting January 1, 1997, as Editor-Elect for one
year and Editor for three years. Please send all nominations (including self
nominations) to:
Professor William L. Ferrara, School of Business,
Stetson University, DeLand, Florida 32720, Phone: (904) 822-7421, Fax: (904)
822-7426, Internet: Ferrara@suvax1.stetson.edu
RESEARCH CONFERENCE ON ETHICS AND ECONOMIC BEHAVIOR
IN ACCOUNTING AND TAXATION
The University of Oklahoma Center for Research in Accounting, in
cooperation with the Journal of Accounting and Public Policy, is
sponsoring a conference dealing with economic aspects of ethics in accounting
and taxation. The conference dates are April 4 and 5, 1997. Papers are to be
submitted by August 31, 1996. Submitted papers will be considered simultaneous
submissions to the Journal of Accounting and Public Policy. For more
information regarding submission guidelines and suggested topics, see the Journal
of Accounting and Public Policy, 15 (1), Spring 1996 issue or contact
either Frances Ayres or Dipankar Ghosh at The University of Oklahoma (405)
325-4221.
CALL FOR PAPERS: APPLICATIONS OF FUZZY SETS AND THE
THEORY OF EVIDENCE TO ACCOUNTING
Papers are invited for the second volume of Applications of
Fuzzy Sets and the Theory of Evidence to Accounting (JAI Press, 1997
publication). Topics could include:
* The applications and/or
methodological development of fuzzy logic
* Dempster-Shafer models
* Neural networks
* Rough sets to accounting
decision making
* Decision making
* Forecasting
* Problem
solving and control Please submit:
* Four (4) copies of
completed paper
* $45.00 submission fee Authors should follow
the Advances in Accounting format. Send all submissions to: Philip
H. Siegel, Department of Accounting & Business Law, School of Business
Monmouth University, W. Long Branch, NJ 07740-1898, Phone: (908) 571-3430
CALL FOR PAPERS:
INTERNATIONAL ACCOUNTING RESEARCH CONFERENCE
The American Accounting Association and the KPMG Peat Marwick
Foundation are co-sponsoring a second conference on research addressing
international accounting issues. The conference will be held at KPMG Peat
Marwick's Quality Institute in Montvale, New Jersey, U.S.A., on Friday and
Saturday, March 28-29, 1997. The conference agenda will include presentation
and discussion of five competitively chosen research papers and a panel
discussion of a current topic in international financial reporting. Papers are
invited in all areas of international accounting, including international
auditing, tax, financial reporting and managerial accounting. Papers using all
research approaches, including analytical, experimental, field study, and
archival-empirical approaches, will be considered. The rigor and relevance of
the research will be the main criteria in selecting papers for the conference.
While copies of all working papers accepted for the conference will be mailed to
registrants, no formal proceedings will be published. Papers must be written
in English, and must not be under consideration for publication or accepted for
publication. Manuscripts should be typed, double-spaced, on one side of the
paper only, and authors should follow the "Instructions to Authors"
given in The Accounting Review for formatting. Please mail (do not fax)
three copies of each paper for review. Only completed manuscripts will be
accepted for review; please do not submit abstracts. All papers will be blind
reviewed by two reviewers. All travel, lodging and meal expenses for one author
of each paper will be reimbursed through the sponsorship of the KPMG Peat
Marwick Foundation. To be considered, papers must be received (not postmarked)
by October 15, 1996. Papers received after this date will not be considered.
Authors will be notified of the decisions on their papers by January 15, 1997.
Send papers to: Professor Gary K. Meek, School of Accounting, College of
Business Administration, Oklahoma State University, Stillwater, OK
74078-0555 Attendance is open to experienced international accounting
researchers; qualified accounting researchers who have little or no experience
with international accounting; nonacademics with international accounting
research interests; and selected doctoral students. Information about
registration and attendance will be available at a later date.
CALL FOR VOLUNTEERS: REVIEWERS FOR FAR MANUSCRIPTS
SUBMITTED TO 1997 AAA ANNUAL MEETING
The Section will need a large number of reviewers to screen financial
accounting and reporting manuscripts submitted for the 1997 American Accounting
Association Annual Meeting. If you would be willing to serve the Association
and the Section in this capacity, please complete the enclosed Referee
Volunteer Form and mail or fax it to:
Wayne R. Landsman Kenan-Flagler Business School University of North Carolina Chapel Hill, NC 27599-3490 Phone: 919-962-3221 FAX: 919-962-0054