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Financial Restatements
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Book Synopsis Financial Restatements by : Orice Williams
Download or read book Financial Restatements written by Orice Williams and published by DIANE Publishing. This book was released on 2007-12 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2002, it was reported that the number of restatement announcements due to financial reporting fraud &/or accounting errors grew significantly between Jan. 1997 & June 2002, negatively impacting the restating companies¿ market capitalization by billions of dollars. The author was asked to update key aspects of the 2002 report. This report discusses: (1) the number of, reasons for, & other trends in restatements; (2) the impact of restatement announcements on the restating companies¿ stock costs & what is known about investors¿ confidence in U.S. capital markets; & (3) regulatory enforcement actions involving accounting- & audit-related issues. Includes recommendations. Charts & tables.
Book Synopsis Financial statement restatements trends, market impacts, regulatory responses, and remaining challenges. by :
Download or read book Financial statement restatements trends, market impacts, regulatory responses, and remaining challenges. written by and published by DIANE Publishing. This book was released on with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Restatement Database by : Orice M. Williams
Download or read book Financial Restatement Database written by Orice M. Williams and published by DIANE Publishing. This book was released on 2006 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Statement Restatements by : United States. General Accounting Office
Download or read book Financial Statement Restatements written by United States. General Accounting Office and published by . This book was released on 2002 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of Restatements on Financial Reporting by : James Thompson
Download or read book An Analysis of Restatements on Financial Reporting written by James Thompson and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public confidence in financial statements may be at an all-time low. The bankruptcy of Enron, the largest bankruptcy in United States history, brings into question whether the accounting profession, and the auditing process in particular, protects the users of financial statements. The shower of scandals and earnings restatements makes users skeptical of the financial reporting rules that are supposed to protect the public. In addition, a lack of transparency in reporting followed by restated financial restatements disclosing billions of dollars of omitted liabilities and losses exacerbate this problem. This paper considers the frequency and nature of Form 8-K reports that are filed with the Securities and Exchange Commission (SEC) by Fortune 500 companies during 2001. This form is used to report the occurrence of any material events or corporate changes which are of importance to investors or security holders and previously have not been reported by the registrant. Information from Form 8-K is analyzed to identify which companies filed 8-K reports, the types of disclosures that are included, industry characteristics of companies that file 8-K reports, whether financial statements were restated as a result of those filings, the reasons that restatements, if any, were required, and the relationship between size of company and number of restatements.
Book Synopsis Are Financially Constrained Firms More Prone to Financial Restatements? by : Robert M. Bowen
Download or read book Are Financially Constrained Firms More Prone to Financial Restatements? written by Robert M. Bowen and published by . This book was released on 2018 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the association between firms' financial constraints and potentially value- destroying financial restatements. How financial constraints affect managerial behavior has been labeled as a core issue in accounting and finance. Ex-ante, the nature of the relation between financial constraints and financial restatements is unclear and remains unexplored in the literature.We find that financially constrained firms are more prone to restate their financial statements. We examine two explanations for this relation. First, consistent with managerial opportunism, we find that among financially constrained firms, weaker firm performance, greater financial leverage, and greater informational complexity are associated with higher discretionary accruals and more restatements. Second, consistent with managerial signalling, we find that although firms with greater investment opportunities and financing needs have higher discretionary accruals, they are not associated with more restatements. These firms signal positive prospects through earnings management while avoiding GAAP violations that could trigger restatements. Finally, we find that a financial constraint measure based on textual analysis outperforms traditional metrics used in most prior research.
Author :United States. Congress. Senate. Committee on Government Operations. Subcommittee on Reports, Accounting, and Management Publisher : ISBN 13 : Total Pages :28 pages Book Rating :4.3/5 (243 download)
Book Synopsis Summary of the Accounting Establishment by : United States. Congress. Senate. Committee on Government Operations. Subcommittee on Reports, Accounting, and Management
Download or read book Summary of the Accounting Establishment written by United States. Congress. Senate. Committee on Government Operations. Subcommittee on Reports, Accounting, and Management and published by . This book was released on 1976 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reoccurrence of Financial Restatements by : Yu-Ho Chi
Download or read book Reoccurrence of Financial Restatements written by Yu-Ho Chi and published by . This book was released on 2012 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Restatements are serious corporate reporting failures which cause investors' concerns about the credibility of restated firms' financial reporting environment. As a result, restatements are usually followed by auditor turnovers, manager turnovers and disclosures of internal control problems. This study attempts to provide empirical evidence on the associations between the reoccurrence of financial restatements and auditor turnover/choice (Big 4/non-Big 4), management replacement (CEO/CFO), and improvement of internal controls. This study also investigates the associations of restated firms' stock market performance with the role of auditor choice, management turnover and improvement of internal controls. Using a sample of 460 earnings restatements reported in the years of 2003 and 2004 with 282 firms with no reoccurrence of financial restatement in the subsequent three years and 178 firms with at least one financial restatement in the subsequent three-year period, my findings show a negative relationship between the probability of reoccurrence of firms' financial restatements and (1) the change to a Big 4 auditor, (2) replacement of CEO/CFO, and (3) improvement on internal controls. Moreover, I find better stock market performance of non-reoccurrence firms compared with that of reoccurrence firms over a three-year period after the initial restatement. Furthermore, the stock market performance is found to be positively associated with the change to a Big 4 auditor, replacement of CEO/CFO and improvement on internal controls.-- Abstract.
Author :United States Government Accountability Office Publisher :Createspace Independent Publishing Platform ISBN 13 :9781976425738 Total Pages :216 pages Book Rating :4.4/5 (257 download)
Book Synopsis Financial Restatements by : United States Government Accountability Office
Download or read book Financial Restatements written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-15 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial restatements : update of public company trends, market impacts, and regulatory enforcement activities : report to the Ranking Minority Member, Committee on Banking, Housing, and Urban Affairs, U.S. Senate.
Book Synopsis Determinants of Financial Misreporting by : Soenke Sievers
Download or read book Determinants of Financial Misreporting written by Soenke Sievers and published by . This book was released on 2019 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide a comprehensive overview of the findings regarding the causes of financial restatements in the US. Acknowledging that restatements may derive from intentional and unintentional misreporting, we assign the findings to one of three pillars: i) expected benefits, ii) expected costs and iii) executive characteristics. Assuming that managers are rational decision-makers, the likelihood of misreporting increases in expected benefits and decreases in expected costs. While expected benefits reflect executives' desire to maximize private benefits through compensation contracts, expected costs refer to the likelihood that misreporting will be revealed through internal or external controls. Given that efficiency of internal and external controls derives from the ability to avoid both, intentional and unintentional misreporting, we also review literature that investigates less severe restatements. We support the existing research by enhancing the understanding of restatements in light of severe and less severe restatements, identifying research gaps and organizing fragmented findings into a larger picture. Ultimately, our survey might inform regulatory bodies, auditors, standard setters and executives regarding restatements of financial statements.
Book Synopsis Financial Restatement Crisis by : Christopher D. Westphal
Download or read book Financial Restatement Crisis written by Christopher D. Westphal and published by . This book was released on 2004 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States Government Accountability Office Publisher :Createspace Independent Publishing Platform ISBN 13 :9781985028579 Total Pages :272 pages Book Rating :4.0/5 (285 download)
Book Synopsis Financial Statement Restatements by : United States Government Accountability Office
Download or read book Financial Statement Restatements written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-02-05 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Statement Restatements: Trends, Market Impacts, Regulatory Responses, and Remaining Challenges
Download or read book A Concise Restatement of Torts written by and published by American Law Institute-American Bar Association(ALI-ABA). This book was released on 2010 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abraham's name appears first on the earlier edition.
Book Synopsis Financial Restatement Database by : Orice M. Williams
Download or read book Financial Restatement Database written by Orice M. Williams and published by . This book was released on 2006 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States Government Accountability Office Publisher :Createspace Independent Publishing Platform ISBN 13 :9781984952318 Total Pages :216 pages Book Rating :4.9/5 (523 download)
Book Synopsis Gao-06-678 Financial Restatements by : United States Government Accountability Office
Download or read book Gao-06-678 Financial Restatements written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-02-03 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-06-678 Financial Restatements: Update of Public Company Trends, Market Impacts, and Regulatory Enforcement Activities
Book Synopsis Financial restatements by : Zinan Zhu
Download or read book Financial restatements written by Zinan Zhu and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Audit by : United States Accounting Office (GAO)
Download or read book Financial Audit written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-06-16 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Audit: Restatements to the National Science Foundation's Fiscal Year 2003 Financial Statements
