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Audit Effort on Tone Ambiguity in 10-K Filings 10-K文件语气歧义的审计工作
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6043
Martin M. Kim, Hambisa Belina
{"title":"Audit Effort on Tone Ambiguity in 10-K Filings","authors":"Martin M. Kim, Hambisa Belina","doi":"10.33423/jaf.v23i2.6043","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6043","url":null,"abstract":"This study examines the association between ambiguous words (uncertain and weak modal words) in 10-K filings and audit fees. We find a positive association between ambiguous words in 10-K filings and audit fees. Results show that auditors put more time and effort into analyzing clients’ reports containing more ambiguous words. We conduct a propensity score matching technique to address potential endogeneity in client characteristics, which presents further empirical support for our main results. We re-estimate the main analysis for robustness tests by excluding firms with going concern opinions, firms audited by Big 4, and firms that report a net loss. We find the main results still hold in all robustness tests. The results of this study can be in the interest of multiple stakeholders, such as issuers, investors, auditors, and regulators, in that the 10-K report is mandatory, but the discretion of the management determines the degree of clarity of the text in the 10-K filings. Therefore, the interpretation and decisions of users of these ambiguous reports are non-trivial.","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86669864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does the Level of Economic Development Affect IFRS Information Comparability? 经济发展水平是否影响国际财务报告准则信息可比性?
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6045
Lei Chen, Yuan-Long Li
{"title":"Does the Level of Economic Development Affect IFRS Information Comparability?","authors":"Lei Chen, Yuan-Long Li","doi":"10.33423/jaf.v23i2.6045","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6045","url":null,"abstract":"This study examines whether levels of economic development affect IFRS information comparability. Since the extant literature indicates that accounting information comparability is also affected by code law versus common law legal origins, we hold the legal system variable constant by focusing on a single code law legal jurisdiction, and document significant evidence on the effect of variations in economic development across regions in China on IFRS information comparability. Specifically, we find comparability is higher for firms from more developed regions in the pre-IFRS convergence period, but not in the post-IFRS convergence periods; and the magnitude of improvement in information comparability upon IFRS convergence is greater for firms from less developed regions. Taken together, our findings suggest that firms from less developed regions in a code law legal jurisdiction actually have more to gain from IFRS convergence.","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90595336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Universal Basic Buybacks 通用基本回购
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6046
Gene J. Kovacs
{"title":"Universal Basic Buybacks","authors":"Gene J. Kovacs","doi":"10.33423/jaf.v23i2.6046","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6046","url":null,"abstract":"Share repurchases (buybacks) have been a recent source of controversy due to misperceptions of their economic effects on firms and shareholders. Commentators in the financial press, financial institutions, and even politicians have misunderstood the effects of share repurchases on share prices and/or shareholder enrichment. I demonstrate the economic effects of share repurchase using financial statement analysis and a residual income valuation (RIM) approach. Consistent with decades of prior finance and accounting research, the results demonstrate that share repurchases do not contribute incremental value to shareholders. Share repurchases do not increase price per share. However, share repurchase do reduce market value, increase financial leverage and certain profitability metrics, and increase the equity cost of capital.","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72568615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rating Bonds Before Moody’s: 1886-1893 穆迪之前的债券评级:1886-1893
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6044
Clifford F. Thies
{"title":"Rating Bonds Before Moody’s: 1886-1893","authors":"Clifford F. Thies","doi":"10.33423/jaf.v23i2.6044","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6044","url":null,"abstract":"This paper is the first in a series examining the credit quality of an evolving sample of seasoned, medium to high-grade, long-term railroad bonds during the late 19 th and early 20 th Centuries. The paper develops a simple model capable of pricing these bonds and assembles the requisite financial statement and market data needed to calibrate the model. The exercise demonstrates that these bonds were priced according to the financial strength of their issuer and their priority of claim (and modified by other factors, many of which are interesting in themselves). These findings suggest that these bonds can be rated from information available in real-time before Moody’s innovation of bond ratings in 1909.","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80025368","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Who Is Interested in Forensic Accounting? 谁对法务会计感兴趣?
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6091
Laura Hatch
{"title":"Who Is Interested in Forensic Accounting?","authors":"Laura Hatch","doi":"10.33423/jaf.v23i2.6091","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6091","url":null,"abstract":"In this research study, I seek to better understand the profile of a student who will find forensic accounting interesting. Demand for forensic accountants is growing and will only continue to increase over the next decade and the supply of properly prepared students for the career is low. This is largely due to few universities offering even a single course focused on forensic accounting. Perhaps, the lack of forensic accounting courses and concentrations within accounting curriculum is because there is not enough information and understanding surrounding the students this career will attract. In this study, I surveyed college aged students to uncover what personal interests, backgrounds, and educational experiences correlate with an interest in forensic accounting. Ultimately, what was revealed is that forensic accounting is incredibly interesting to students regardless of major or interest in accounting in general. Students desire more coursework in this field and the results provide exciting and positive news for the future of forensic accounting .","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80475149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Ethical Contracting for Clinical Trials 临床试验伦理合同
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6041
{"title":"Ethical Contracting for Clinical Trials","authors":"","doi":"10.33423/jaf.v23i2.6041","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6041","url":null,"abstract":"","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89232693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Did Bank Stockholders Get Superior Returns Due to the Implementation of the Paycheck Protection Program? An Analysis of Bank Indices Based on Size 银行股东是否因薪水保护计划的实施而获得了更高的回报?基于规模的银行指数分析
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6085
{"title":"Did Bank Stockholders Get Superior Returns Due to the Implementation of the Paycheck Protection Program? An Analysis of Bank Indices Based on Size","authors":"","doi":"10.33423/jaf.v23i2.6085","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6085","url":null,"abstract":"The study examines the impact of the implementation of the Paycheck Protection Program on the largest (KBW) and smallest (ABAQ) bank-based indices. Since the Paycheck Protection Act was created to help businesses during the COVID-19 pandemic, the money was disseminated by the US Federal government using commercial banks as the main conduit. Using t-tests and non-parametric tests, we find that both indices had superior returns during the implementation of the PPP program. This is supported by the results of a dummy variable regression. However, when controlled for general market movements represented by NASDAQ Composite daily returns, neither KBW nor ABAQ produced abnormal returns for the PPP window. We further report that there are some superior returns for the bigger banks when general markets moved higher, which arguably received greater sums of money and distributed them more inconsistently with fiscal goals as compared with their smaller counterparts during the implementation of the PPP program.","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135141098","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Predicting S&P 500 Index ETF (SPY) During COVID-19 via K-Nearest Neighbors (KNN) Algorithm 基于k近邻(KNN)算法的新冠肺炎期间标准普尔500指数ETF (SPY)预测
Universal Journal of Accounting and Finance Pub Date : 2023-05-15 DOI: 10.33423/jaf.v23i2.6149
Wenguang Lin, Shengxiong Wu
{"title":"Predicting S&P 500 Index ETF (SPY) During COVID-19 via K-Nearest Neighbors (KNN) Algorithm","authors":"Wenguang Lin, Shengxiong Wu","doi":"10.33423/jaf.v23i2.6149","DOIUrl":"https://doi.org/10.33423/jaf.v23i2.6149","url":null,"abstract":"In this paper, the daily adjusted closing price of SPY (SPDR S&P 500 ETF Trust) is predicted by using the High-Low prices of SPY, DIA (SPDR Dow Jones Industrial Average ETF Trust), and QQQ (Invesco NASDAQ-100 ETF Trust) via the KNN method during the COVID-19 pandemic period. Results show that applying the KNN method, a simple, intuitive, and explainable machine learning method, is feasible and effective in SPY price prediction and corresponding trade decisions during the COVID-19 pandemic. Experiments also indicate that adding information on High-Low prices from DIA (a value tilt ETF) and QQQ (a growth tilt ETF) cannot improve the accuracy of both SPY price prediction and trading decisions. Results are consistent with previous findings based on the portfolio approach that value spread does not help predict stock market returns.","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83165858","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
ANALISIS PENDAPATAN PETANI PADI DESA JIMBUNG KECAMATAN KEDUNGTUBAN KABUPATEN BLORA Blora 区 Kedungtuban 分区 Jimbung 村稻农收入分析
Universal Journal of Accounting and Finance Pub Date : 2023-04-03 DOI: 10.31942/jafin.v2i1.8271
Eka Putri Fitriani Dian Shafira, Yushita Marini
{"title":"ANALISIS PENDAPATAN PETANI PADI DESA JIMBUNG KECAMATAN KEDUNGTUBAN KABUPATEN BLORA","authors":"Eka Putri Fitriani Dian Shafira, Yushita Marini","doi":"10.31942/jafin.v2i1.8271","DOIUrl":"https://doi.org/10.31942/jafin.v2i1.8271","url":null,"abstract":"Penelitian ini bertujuan untuk mengetahui dan menganalisis besarnya penggunaan biaya produksi yang digunakan petani padi dalam mengelola tanaman padi yang menentukan pendapatan petani selama satu kali musim panen di Desa Jimbung Kecamatan Kedungtuban Kabupaten Blora, dimana sampai dengan saat ini banyak petani di Indonesia masih belum mengetahui proses penghitungan pendapatan dari pertanian lokal tradisional. Metode penelitian ini adalah metode analisis deskiptif dan analisis kelayakan pertanian padi sawah, dengan menggunakan teknik pengumpulan data dokumentasi data skunder, observasi, wawancara dan angket kepada para petani lokal yang berada di Desa Jimbung Kecamatan Kedungtuban Kabupaten Blora. Hasil temuan menunjukkan bahwa pendapatan dan biaya produksi dari pengelolaan tanaman padi berdampak pada besarnya pendapatan usahatani padi di Desa Jimbung.Kata kunci: Biaya Produksi, Petani Padi Sawah, Pendapatan","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135717709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
ANALISIS PENERAPAN STANDAR AKUNTANSI KEUANGAN ENTITAS MIKRO, KECIL, DAN MENENGAH (SAK EMKM) PADA UMKM DI KABUPATEN BATANG 分析后备箱区UMKM的微型、小型和中型实体(UMKM)的标准财务会计会计分析
Universal Journal of Accounting and Finance Pub Date : 2023-04-03 DOI: 10.31942/jafin.v2i1.8272
Efa Yunianti, Setyo Mahanani, Sri Retnoningsih
{"title":"ANALISIS PENERAPAN STANDAR AKUNTANSI KEUANGAN ENTITAS MIKRO, KECIL, DAN MENENGAH (SAK EMKM) PADA UMKM DI KABUPATEN BATANG","authors":"Efa Yunianti, Setyo Mahanani, Sri Retnoningsih","doi":"10.31942/jafin.v2i1.8272","DOIUrl":"https://doi.org/10.31942/jafin.v2i1.8272","url":null,"abstract":"Penelitian ini bertujuan untuk mengetahui penerapan Standar Akuntansi Keuangan Entitas Mikro, Kecil dan Menengah (SAK EMKM) dan faktor-faktor apa saja yang yang mempengaruhi Penerapan Standar Akuntansi Keuangan Entitas Mikro, Kecil dan Menengah (SAK EMKM) dalam penyajian laporan keuangan pada UMKM di Kabupaten Batang. Jenis penelitian ini menggunakan pendekatan kualitatif dengan menggunakan data primer dan sekunder yang diambil dari UMKM Batang Kerajinanku, Keripik Buah Mega Fruits, Farhiya Muslimah, Kerupuk Mbulung Purnama, Ash Shofwa Hijab, Ovelia, Mutiara Nabila Snack,Rizki Illahi, Almas Snack, dan Anugerah Laundry. Teknik pengumpulan data menggunakan teknik wawancara, pengamatan, dan dokumentasi.Hasil penelitian ini menujukkan bahwa dari kesepuluh UMKM di Kabupaten Batang yang menerapkan SAK EMKM secara eksklusif kepada UMKM Ash Shofwa Hijab, sembilan UMKM belum membuat pencatatan akuntansi berbasis SAK EMKM, dikarenakan pemilik usaha hanya mencatat pengeluaran dan pendapatan usahanya ke dalam buku catatan seadanya. Faktor-faktor yang menjadi keterbatasan dalam penerapan laporan keuangan yang sesuai dengan SAK EMKM yaitu para pelaku UMKM merasa bahwa laporan keuangan SAK EMKM tidak terlalu penting serta penerapannya yang sulit dan membutuhkan waktu yang lebih lama, serta kurangnya sosialisasi dan pengawasan pemerintah maupun lembaga UMKM kepada para pelaku UMKM.Kata kunci: SAK EMKM, Laporan Keuangan, UMKM","PeriodicalId":36300,"journal":{"name":"Universal Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135717711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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