Do Voluntary Disclosures that Disavow the Reliability of Mandated Fair Value Information Reflect Legitimate Concerns About Reliability?

Do Voluntary Disclosures that Disavow the Reliability of Mandated Fair Value Information Reflect Legitimate Concerns About Reliability?

Author: Walter G. Blacconiere

Publisher:

Published: 2014

Total Pages: 0

ISBN-13:

DOWNLOAD EBOOK

One consequence of the shift to fair value measurement is the emergence of voluntary disclosures in audited financial statements that question the reliability of mandated fair value information. We refer to these disclosures as reliability disavowals and address three questions: Are fair value estimates less reliable for firms that disavow? Do managers of disavowal firms have reason to believe that they cannot reliably estimate the disavowed fair values? Are factors indicative of reliability problems associated with the decision to disavow? We address these questions in the context of managers' stock option compensation estimates disclosed under SFAS 123. Our results suggest reliability disavowals reflect legitimate reliability concerns, consistent with managers believing that supplemental disclosures about fair value estimates provide useful information about the limitations of the estimates, which is the FASB's position in SFAS 157.


Fair Value Measurements Disclosure: Mandatory Adoption, Valuation and Disclosure Effects

Fair Value Measurements Disclosure: Mandatory Adoption, Valuation and Disclosure Effects

Author: Joseph Denard Reid

Publisher:

Published: 2013

Total Pages:

ISBN-13:

DOWNLOAD EBOOK

The recent financial crisis caused fair value relevancy and appropriateness to be called to the forefront of academic research as the subject dominated the media headlines. To date, there is limited research available to adequately understand, interpret and evaluate the benefits and consequences of fair value valuation and related disclosures within a liquid market context. This three paper dissertation contributes to academic literature by providing some evidence of the effects of mandatory disclosure surrounding fair value in an illiquid or highly volatile market. The first paper examines the relationship between mandatory disclosure, implied cost of capital and financial reporting quality. The second paper investigates the effect of the disclosure on liquidity and firm value. Lastly, the third and final paper examines the manufacturing industry sector, an industry severely affected by the financial crisis as it relates to ASC 820-10 and financial reporting quality. Collectively the results indicate that the mandatory disclosure requirement did reduce information asymmetry and provided informational value, however not uniformly for all firms. Furthermore, certain industries experienced more benefit from the disclosure. The results of this study will benefit investors, regulators, auditors and creditors as this information contained in the disclosure can serve as a signal of financial prudence. .


Assessing Genetic Risks

Assessing Genetic Risks

Author: Institute of Medicine

Publisher: National Academies Press

Published: 1994-01-01

Total Pages: 353

ISBN-13: 0309047986

DOWNLOAD EBOOK

Raising hopes for disease treatment and prevention, but also the specter of discrimination and "designer genes," genetic testing is potentially one of the most socially explosive developments of our time. This book presents a current assessment of this rapidly evolving field, offering principles for actions and research and recommendations on key issues in genetic testing and screening. Advantages of early genetic knowledge are balanced with issues associated with such knowledge: availability of treatment, privacy and discrimination, personal decision-making, public health objectives, cost, and more. Among the important issues covered: Quality control in genetic testing. Appropriate roles for public agencies, private health practitioners, and laboratories. Value-neutral education and counseling for persons considering testing. Use of test results in insurance, employment, and other settings.


Enhancing the Regulatory Decision-Making Approval Process for Direct Food Ingredient Technologies

Enhancing the Regulatory Decision-Making Approval Process for Direct Food Ingredient Technologies

Author: Institute of Medicine

Publisher: National Academies Press

Published: 1999-04-29

Total Pages: 158

ISBN-13: 0309184134

DOWNLOAD EBOOK

The Institute of Medicine's (IOM's) Food Forum was established in 1993 to allow science and technology leaders in the food industry, top administrators in the federal government, representatives from consumer interest groups, and academicians to discuss and debate food and food safety issues openly and in a neutral setting. The Forum provides a mechanism for these diverse groups to identify possible approaches for addressing food and food safety problems and issues surrounding the often complex interactions among industry, academia, regulatory agencies, and consumers. On May 6-7, 1997, the Forum convened a workshop titled Enhancing the Regulatory Decision-Making Process for Direct Food Ingredient Technologies. Workshop speakers and participants discussed legal aspects of the direct food additive approval process, changes in science and technology, and opportunities for reform. Two background papers, which can be found in Appendix A and B, were shared with the participants prior to the workshop. The first paper provided a description and history of the legal framework of the food ingredient approval process and the second paper focused on changes in science and technology practices with emphasis placed on lessons learned from case studies. This document presents a summary of the workshop.


The Routledge Companion to Accounting, Reporting and Regulation

The Routledge Companion to Accounting, Reporting and Regulation

Author: Carien van Mourik

Publisher: Routledge

Published: 2013-10-01

Total Pages: 568

ISBN-13: 113624350X

DOWNLOAD EBOOK

Financial accounting, reporting and regulation is a vast subject area of huge global importance, with interest rising significantly in the light of the ongoing global financial crisis. The authors begin with a broad overview of the subject of accounting, setting the stage for a discussion on the theoretical and practical issues and debates regarding financial reporting, which are expanded on in the second part of the book. This includes how to define the reporting entity, recognition and measurement of the elements of financial statements, fair values in financial reporting and the costs and benefits of disclosure. The third part assesses the interest, need and theories behind the accounting, reporting and regulation industry, while parts four and five look at the institutional, social and economic aspects; with issues such as accounting for environmental management and, accounting regulation and financial reporting in Islamic countries, both issues of ever increasing importance. This authoritative Companion presents a broad overview of the state of these disciplines today, and will provide a comprehensive reference source for students and academics involved in accounting, regulation and reporting.


Keeping Faith with the Constitution

Keeping Faith with the Constitution

Author: Goodwin Liu

Publisher: Oxford University Press

Published: 2010-08-05

Total Pages: 274

ISBN-13: 0199752834

DOWNLOAD EBOOK

Chief Justice John Marshall argued that a constitution "requires that only its great outlines should be marked [and] its important objects designated." Ours is "intended to endure for ages to come, and consequently, to be adapted to the various crises of human affairs." In recent years, Marshall's great truths have been challenged by proponents of originalism and strict construction. Such legal thinkers as Supreme Court Justice Antonin Scalia argue that the Constitution must be construed and applied as it was when the Framers wrote it. In Keeping Faith with the Constitution, three legal authorities make the case for Marshall's vision. They describe their approach as "constitutional fidelity"--not to how the Framers would have applied the Constitution, but to the text and principles of the Constitution itself. The original understanding of the text is one source of interpretation, but not the only one; to preserve the meaning and authority of the document, to keep it vital, applications of the Constitution must be shaped by precedent, historical experience, practical consequence, and societal change. The authors range across the history of constitutional interpretation to show how this approach has been the source of our greatest advances, from Brown v. Board of Education to the New Deal, from the Miranda decision to the expansion of women's rights. They delve into the complexities of voting rights, the malapportionment of legislative districts, speech freedoms, civil liberties and the War on Terror, and the evolution of checks and balances. The Constitution's framers could never have imagined DNA, global warming, or even women's equality. Yet these and many more realities shape our lives and outlook. Our Constitution will remain vital into our changing future, the authors write, if judges remain true to this rich tradition of adaptation and fidelity.


Earnings Management

Earnings Management

Author: Joshua Ronen

Publisher: Springer Science & Business Media

Published: 2008-08-06

Total Pages: 587

ISBN-13: 0387257713

DOWNLOAD EBOOK

This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?


Uniform Appraisal Standards for Federal Land Acquisitions

Uniform Appraisal Standards for Federal Land Acquisitions

Author: William J. Kollins

Publisher: DIANE Publishing

Published: 1998-02

Total Pages: 141

ISBN-13: 0788147145

DOWNLOAD EBOOK

These standards have been prepared to promote uniformity in the appraisal of real property among the various agencies acquiring property on behalf of the U.S., by both direct purchase & condemnation. Contents: standards for approaching the solution to certain recurring appraisal problems (cost approach, income approach, highest & best use, etc.); data documentation & appraisal reporting standards (zoning & other land use regulations, contents of appraisal report, etc.); general standards of a miscellaneous nature (impartiality, witness composure, leasehold takings, etc.). Cases & statutes.


Batterer Intervention

Batterer Intervention

Author: Kerry Murphy Healey

Publisher: DIANE Publishing

Published: 1999-07

Total Pages: 216

ISBN-13: 0788178695

DOWNLOAD EBOOK

"Batterer Intervention: Program Approaches and Criminal Justice Strategies" is a publication of the National Criminal Justice Reference Service (NCJRS) in Rockville, Maryland. The publication provides judges, prosecutors, and probation officers with the information they need to better understand batterer intervention and make appropriate decisions regarding programming.