• Selected
• Entire List

Abstract:
Increasing corporate accountability and regulatory pressure push internal auditors to develop new ways to enhance effectiveness and efficiency in their work. Once-a-year reviews are often insufficient. Consequently, continuous auditing is necessary to meet the needs of a firm's stakeholders. Continuous auditing is any of the methods used by auditors to perform an audit on a continuous basis. Continuous auditing tests transactions based on prescribed criteria, identifies anomalies, and is the responsibility of the auditor. This article addresses the potential impact of the current environment on continuous auditing and its stakeholders.

continuous auditing, accounting information systems

Abstract:
This article (editorial) proposes actions to be taken by educators and practitioners in providing ethical direction to the accounting profession. In the wake of corporate scandals and a shaky stock market, Congress passed legislation that established a new board to oversee auditors of publicly traded companies and increased prison sentences for fraud. This article is based on the author's opening statement to the U.S. House of Representatives Subcommittee on Commerce, Trade, and Consumer Protection, Friday, July 26, 2002. At the Congressional Hearing, Truett Cathy, founder of Chick-Fil-A, quoted Proverbs 22:1, which says: A good name is more desirable than great riches; to be esteemed is better than silver or gold. The truth is that living an honorable life really is more satisfying than fame and fortune. The accounting professional must be skilled at implementing moral judgments so that he or she can consider the welfare of those affected by his or her actions. The ultimate measure of success is not fame and fortune, but moral character and personal integrity. The leadership of the accounting profession has a responsibility to inculcate in practitioners and students ethical behavior and personal integrity. Rules and regulations of government cannot preserve a free and ethical society whose people lack integrity.

ethics, accounting, public policy, Sarbanes-Oxley Act

Abstract:
At the beginning of the 21st century, the ethical values of the U.S. accounting profession were tarnished by major corporate failures and questionable accounting practices. How has this affected the profession, specifically, the perceptions of current and future accountants? This research study examines perceptions regarding the trustworthiness and integrity of the accounting profession. Perceptions were obtained from accounting practitioners, accounting educators, and future practitioners (students). In addition, an historical overview of accounting, the function of auditing in the capital markets, and the regulation of auditing in the U.S. are briefly examined. Survey results indicate that, compared to accounting practitioners and educators, students are generally more concerned about events surrounding the Sarbanes-Oxley Act and feel a stronger need for changes to enhance confidence in the capital markets. Concerning the future of the accounting profession, significant differences of opinion exist among groups. Public accountants are the most optimistic about the future, followed by students, then faculty and industry accountants.

ethics, public interest, accounting, auditing, accounting regulation.

Abstract:
The accepted method of accounting for a change in accounting estimate requires that any over or under expense related to years prior to that change be allocated to current and affected future periods. A change in accounting principle requires that any over or under expense related to years prior to that change be recognized in the year of change.

Variable stock plans require estimation of a future market price-the market value at the measurement date. The amount of this estimate may change each year. FIN 28 uses the catch-up method (as for a change in accounting principle) to account for these changes over the service period or vesting period of stock option awards. However, this treatment is not consistent with the treatment applied to other changes in accounting estimate as discussed in APB 20. Should changes in accounting estimate re-lated to variable stock plans be accounted for using the prospective method? This would seem to be more consistent with previous rules of GAAP (i.e., APB 20). However, perhaps there is a more fundamental issue to consider - the usefulness of a measurement approach in reporting an event and its ability to achieve consistent and comparable measures of income.

Currently, the FASB is planning to issue an exposure draft on accounting for stock compensation plans. However, over two years have passed since the comment deadline passed on this discussion document, and release of an exposure draft on the subject was postponed each quarter during 1986. As the FASB continues to study this issue, it should consider the position it stated in paragraph 16 of FIN 28: the method of measuring compensation for stock appreciation rights and other variable plan awards should not be changed without a comprehensive reexamination of the measurement principles underlying APB Opinion No. 25. We believe that FASB should reexamine the entire issue of measurement, including the method applied and the circumstances under which that method best reflects operating income when variable stock options are used as compensatory rewards. This review should include APB 20 and the relative importance of consistency among approaches used versus other considerations such as the matching of costs and income measurement.

Variable Stock Plans, FASB, Change in Accounting Estimate, Change in Accounting Principle, FASB Interpretation 28

Abstract:
Internal auditors play key roles in multinational corporations, including assessing effectiveness of business operations. Internal auditors can help evaluate effectiveness of corporate policies regarding international transfer pricing. International transfer pricing is a major issue for multinational corporations, as transfer pricing is a key element in corporate taxation strategies. This article explains basic issues of transfer pricing, illustrates how multinational corporations can benefit from effective transfer pricing policies and, and describes the importance of proper documentation. The arm's length approach to transfer pricing is presented. Transfer pricing, if done correctly, can improve the overall success and value of an international company.

International business, transfer pricing, corporate taxation

Abstract:
Use of accounting information to assess a firm's value is a very important subject for financial analysts, investors, lenders, policy-makers, and other market participants. This study compares the relative performance of three valuation models based on a sample of all relevant American Depositary Shares (ADRs) from selected Asian countries and a matched sample of U.S. counterparts, using accounting variables reported under U.S. generally accepted accounting principles (GAAP), non-U.S. GAAP, and IFRS. Understanding how these different GAAPs affect valuation is increasingly important, especially after the U.S. SEC decided in 2007 to accept IFRS, in place of U.S. GAAP, for financial reports of non-U.S. companies.

Valuation models, financial markets, international accounting, international financial reporting standards (IFRS)

Abstract:
Several years prior to the 2002 passage of the Sarbanes-Oxley Act (SOX), SEC Chairman Arthur Levitt, identified problems regarding audit committee effectiveness. In response, in September 1998 the Blue Ribbon Committee (BRC) on Audit Committee Effectiveness was established jointly by the New York Stock Exchange (NYSE) and the National Association of Securities Dealers (NASD). The BRC issued its recommendations regarding the appropriate make-up and function of the audit committee on February 8, 1999. The current study attempts to measure the change in audit committee behavior (and presumably effectiveness) subsequent to implementing the BRC recommendations. The results of the study indicate that audit committees did become more active, thus implying a more serious effort to monitor management of their respective companies. However, questionable accounting practices and major corporate failures of 2001 and 2002, notably Enron and Worldcom, led to federal legislation, SOX, to regulate auditing and corporate financial reporting. The BRC recommendations appear to have been too little too late.

audit committee, corporate governance, blue ribbon committee

Abstract:
Complex tax laws and the costs of complying with those laws are a major concern to U.S. multinational corporations. High costs of complying with complex tax rules and the nature of these rules are widely viewed as an impediment to the ability of U.S. multinational corporations to effectively compete in the international business arena and place them at a competitive disadvantage relative to multinational corporations chartered in other countries. This study examines tax compliance costs of U.S. multinational corporations over the years 1986 through 1988, the years immediately preceding and following passage of the Tax Reform Act of 1986. Research objective: determine the extent to which tax compliance costs increased over that period, the provisions of the act that most profoundly contributed to those increased costs, and other factors contributing to the tax complexity faced by U.S. multinational corporations.

Tax Reform Act of 1986; Multinational corporations; Tax compliance costs

Abstract:
The abilities and skills of internal auditors suit them well for the war against money laundering. Forensic accounting skills, as well as audit expertise, are needed to help in combating this crime. The development of internal policies, procedures, and controls to prevent money laundering fits within the accountant's abilities and expertise. Money laundering can be defined as a process in which illegally obtained money (e.g. from drug trafficking, terrorist activity or other serious crimes) is given an appearance of having originated from a legitimate source. Although the basic goals of money laundering are no different today than from decades ago, money laundering is now taking place in a high-tech global environment. This article provides background and recent developments in efforts to combat money laundering.

money laundering

Abstract:
Importance of International Financial Reporting Standards (IFRS) has greatly increased in recent years. Pivotal events include acceptance of IFRS for financial reporting in the European Union in 2005 and the US Securities and Exchange Commission's announcement in late 2007 to accept IFRS for financial reporting by non-US firms trading in US markets. How far away is worldwide acceptance of IFRS for financial reporting? To answer this question, this study offers a review of recent events, including a longitudinal analysis of adoption of IFRS by the countries of the world. In addition, perspectives regarding acceptance of IFRS, from top corporate accounting officers, are acquired and evaluated. Findings indicate that IFRS are increasingly accepted around the world and that top accounting officers are very favorable to adoption of IFRS worldwide. Based on these findings, acceptance of IFRS in virtually all countries, including the US, appears imminent, perhaps occurring within the next few years.

International Financial Reporting Standards, IFRS, international accounting

Abstract:
Audit reporting is a complex process, requiring knowledge of various reporting issues and corresponding report formats. To address the difficulty of presenting audit reporting concepts to students, the authors constructed and used an audit reporting system, named AUDPORT, in their first-level auditing classes at two major state universities. This paper reports the use of AUDPORT as a teaching aid and its impact on students' performance.

audit reporting, expert systems, auditing, pedagogy

Abstract:
The worldwide movement toward international standards for financial reporting and for auditing will have a significant impact on the work of corporate accountants and internal auditors. Across countries, accounting standards and auditing standards are different as a result of unique cultural, political, legal, and economic factors. Ongoing efforts to harmonize accounting and auditing standards are expected to benefit economic activity in nations around the world. This article examines the role of international accounting and auditing standards in today's global economy. A brief history of the International Accounting Standards Board (IASB) is provided, along with challenges to using the International Financial Reporting Standards (IFRS) issued by the IASB. An example balance sheet is provided that shows how IFRS results can differ from U.S. generally accepted accounting principles. A brief history of the International Auditing and Assurance Standards Board (IAASB) is provided, along with current developments regarding the International Standards on Auditing (ISA) issued by the IAASB.

Abstract:
Application of information technology to gain a competitive advantage is well known and often used by business firms in developed countries. A fairly recent technological development is use of the Internet to provide corporate financial information, that is, Internet financial reporting. The research question posited by this study is: Do investors value emerging market firms that attempt to reduce information asymmetry by using information technology? This study uses the efficient market hypothesis to test the effects of two economic events on the market returns of emerging markets firms that engage in Internet financial reporting. At the macro-economic level, the event date is defined as the date the country deregulated the telecommunications industry granting commercial access to Internet providers. At the micro-economic level, the event date is based on the firm's announcement of the launching of its website. This study offers empirical evidence of the longitudinal effects of Internet technology i.e., timely dissemination of financial information, on emerging markets. The analysis reveals positive dispersions in market price and volume around the event dates. Market performance of securities listed on emerging market stock exchanges does improve after commercialization of the Internet.

Internet financial reporting, emerging markets, firm valuation

Abstract:
A major problem facing e-business is its vulnerability to cybercrime. Cybercrime includes any criminal activity committed on the Internet, such as phishing, spoofing, botnet, and denial of service attacks that cause e-business websites to lose money. This article describes how some common cybercrimes are perpetrated and provides examples of some companies affected. In addition, some guidance is offered on preventing crimes. Understanding types of cybercrime and basic prevention techniques will benefit internal auditors, as they can help evaluate whether a company has adequate defenses against cybercrime.

e-commerce, e-crime, cybercrime, computer fraud

Abstract:
This study examines topics currently addressed in the introductory AIS course and makes comparisons to past studies. The study includes an examination of 12 current AIS textbooks, syllabi from current AIS instructors, and the results of a survey of AIS faculty and professionals. The divisions of topics in the books and on the syllabi suggest that introduction to systems, internal control and transaction processing are the most important topics to be covered. After these topics, the rankings diverge. The results of this study suggest that the emphasis historically placed on system analysis and design, while still important, is somewhat less than in the past. This was also apparent from the results of the authors' surveys of professionals who use technology in their jobs and of AIS faculty. Both faculty and professionals agree that greater importance should be placed on teaching internal control and transactions processing, while moderate importance should be placed on software and hardware issues. Professionals ranked ethics and Internet education of greater importance than faculty did, while faculty rated computer fraud (which may tie in with ethics) and database management systems of greater importance than the professionals did. Professionals also placed higher importance on teaching software applications (particularly spreadsheet applications) than did faculty.

Accounting information systems, AIS, topics, accounting education

Abstract:
Accounting educators are being called on to provide a greater emphasis on ethics education. This paper examines three important issues concerning ethics education in accounting. First, the question of whether ethics can indeed be taught is examined. Next, several innovative approaches are presented which have been used by accounting educators to integrate ethics into the classroom. Finally, results of a survey of students concerning their perspectives of ethical issues in accounting education, the accounting profession, and society at large are presented and discussed. Survey results reveal that students consider a lack of ethics damaging to the accounting profession and society. Results also indicate that accounting students are seeking ethical and moral direction.

Ethics, accounting education

Abstract:
Brand associations affect image and one source of brand association is a company’s reputation. While the relationship between a positive corporate reputation and operational performance is intuitively appealing, there has been relatively little empirical research. This study, using a comprehensive approach, seeks to empirically test the relationship and thereby determine whether firms with a positive brand image, that is those with a positive reputation, experience an economic benefit. Findings are that these firms are associated with a significant market value premium, superior financial performance, and lower cost of capital. Given these findings, marketing managers would do well to strive to build and maintain a positive reputation.

Corporate Reputation, Financial Markets, Corporate Social Responsibility, Ethics

Abstract:
Ethical corporate citizenship and good corporate governance have received increased attention since the financial scandals prevalent at the beginning of the millennium. This study first explores the relationship of ethical corporate citizenship to financial performance (i.e., greater profitability and efficiency, and lower cost of capital). Second, the study examines whether ethical corporate behavior is associated with a market-value premium. Results of prior studies are mixed. The results of our study contribute directly to the recent accounting literature in which specific aspects of ethical corporate behavior have been explored (Fukami et al. 1997; Ittner and Larker, 1998; Ballou et al., 2003; Clarkson et al., 2004). We match firms listed by Business Ethics magazine as The 100 Best Corporate Citizens to a sample of control firms of the same size and industry. The univariate results of our study indicate a significant relationship between ethical corporate behavior and financial performance (i.e., greater profitability and efficiency, and lower cost of capital); however, the results of multivariate tests controlling for prior year market value of equity, yielded results which indicate no direct association between ethical corporate behavior and market value. The fact that there is no meaningful market premium directly associated with being on the ethical list should not be taken to mean that there is no economic benefit associated with being ethical. The market valuation of ethical firms incorporates the normal market response associated with better financial performance (profitability, growth, and efficiency) and lower risk.

Accounting ethics, corporate governance, corporate social responsibility

Abstract:
Information technology plays a critical role in modern business, especially regarding the accounting function. Thus, one might expect that information technology and accounting systems would be a major component of accounting research. This study seeks to answer the question, to what extent does the accounting literature include technology and systems research? The findings indicate that while there has been a dramatic increase in the proportion of systems articles published in the professional journals (JOA, CPAJ, SF), there were very, very few technology and systems articles published in the academic journals (TAR, JAR, JAE, CAR). This might suggest a lack of appropriate attention by academic accounting journals to this important area. Consequently, AIS professors who are doing research in systems have a disadvantage in publishing research in top-ranked academic journals. This may result in adverse career consequences for AIS professors if they are expected to publish in these particular academic journals. Further, lack of systems research published in academic journals is detrimental to the perceived and actual relevance of these journals, as technology and systems issues are vitally important to the accounting profession.

accounting information systems, academic research, accounting publications

Abstract:
This paper describes a presentation on ethics for accounting and business students. Recent major corporate failures such as Enron and Worldcom, combined with questionable accounting practices, made ethics a paramount concern to persons working in business and accounting. While financial statement analysis and regulatory requirements are important technical topics, the issue of ethics provides faculty a unique and very appropriate setting to discuss deeper truths about doing business and living life well. This paper briefly describes the development and assessment of one approach to presenting ethics built around a computerized slide show (PowerPoint). The goal of the presentation is to increase students' understanding of the essential role of ethics to accounting and business. Following the presentation, students indicated a heightened recognition of the importance of ethics. Educators should do all that they can to encourage students to do the right thing, even in difficult circumstances. This encouragement may serve them well in school and later in their careers.

business ethics, accounting curriculum, accounting ethics

Abstract:
This study examines the relative contributions of accounting journals to the overall field of accounting. A total of 93 accounting journals were included in the study. A survey questionnaire was used to obtain the perceptions of 176 randomly selected accounting educators. The sample included 68 department heads, (38.6 percent). Rankings were provided based on perceptions of all respondents and based on perceptions of respondents according to seven areas of accounting specialization. The results indicate the widespread recognition of high quality in a number of journals, but also indicate some important differences in perceptions based on areas of specialization. The fairness of comparing diverse journals is problematic; however, from a practical standpoint, such comparisons are made every time a professor's research record is evaluated in annual merit evaluations as well as for promotion, tenure, or other special recognition. The findings should be useful to persons involved in evaluating research and publication records in annual merit evaluations as well as for promotion and tenure decisions. The findings should also be useful to individual educators in planning their research efforts.

Accounting research, accounting journal quality, relative ranking

Abstract:
The purpose of this study is to examine current developments in the distribution of men and women in accounting academia, including university faculty positions and in leadership roles in the American Accounting Association (AAA). The study also reviews women's participation in the accounting practice field. The role of women in accounting has substantially increased in recent decades. The proportion of faculty positions held by women has increased in all academic ranks. The proportion of AAA leadership positions held by women has increased, such as regional vice presidents and membership on editorial boards. However, even with these increases, a much lower proportion of women hold senior academic ranks and leadership positions in the AAA. Perhaps, if the trend continues, women will account for a higher proportion of these academic roles in the future, but due to different perspectives on work-life balance and other gender-related differences, women may choose to hold a lower proportion of these roles. By reporting on the current status of women in accounting academia, the study provides a benchmark on which future studies can build.

gender issues, accounting academe, accounting profession

Abstract:
Finding the balance between career and personal life has always been a challenge for working people. Work-life balance refers to people spending sufficient time at their jobs while also spending adequate time on other pursuits, such as family, hobbies, and community involvement. This study addresses two research questions. The first examines the importance people place on work-life balance. The second considers whether gender differences are associated with work-life balance. To address these questions, an examination is made of the perspectives of future accountants. Maslow's hierarchy theory and McClelland's motivational needs theory provide theoretical support for understanding people's motivation to achieve a healthy work-life balance. Gender theory and related research provide theoretical support why differences exist between male and female accountants' perspectives. The study also reviews what current accounting professionals are doing to improve their work-life balance.

work-life balance, accounting profession

Abstract:
Accounting plays a key role in the social and economic progress of a nation. Ethical standards are a hallmark of the accounting profession. An important question is what factors affect the ethical choices made by accountants. Past research suggests that factors such as gender, educational level, religiosity, and work experience may be related to the development of a person's ethical standards. This study attempts to do two things. First, the study provides a short review of contemporary ethical models, including the hermeneutical model. Second, the study examines factors affecting a person's ethical perspectives. Understanding the factors which shape the ethical standards of future accountants will help educational institutions develop appropriate ethics curriculum and help firms develop appropriate ethics training for their employees. Failure to bring appropriate ethical standards to the workplace will most assuredly hamper the profession's time-honored commitment to serve the public interest. The findings suggest that there are differences in individual ethical standards based on gender, college level (graduate vs. undergraduate), religiosity, and work experience.

business ethics, ethical decision-making, gender issues

Abstract:
In December 2008, the SEC approved final rules which require companies to submit financial statements in XBRL format with their SEC filings, beginning with quarterly June 2009 filings for the largest companies and within three years for all public companies. Previously, the SEC established a voluntary filing program for XBRL reporting in March 2005. Accordingly, the objectives of our study are: (1) to provide an overview of the benefits and global development of XBRL and (2) to evaluate the extent of XBRL adoption following the implementation of the voluntary filing program. We find the quantity of voluntary reporting to be relatively low, but reporting significantly increased over time. Voluntary adopters are larger and more innovative firms in their industries. We find evidence suggesting increasing efficiency in XBRL reporting, as reporting lags have significantly decreased over time. This efficiency improvement is positive news and may accrue to other companies after they are required to use XBRL reporting. XBRL is expected to have a positive effect on accounting and financial reporting worldwide, particularly used in conjunction with International Financial Reporting Standards (IFRS).

XBRL, Securities and Exchange Commission, IFRS, information technology

Abstract:
The purpose of this study is twofold: 1) to determine if an ethics presentation at an Italian university can change student perceptions of ethics; and 2) to compare results of this study with previously published results from US students. The ethics presentation, previously developed by Smith et al. (2005) for accounting and business classes, made available on the Internet, was adapted and used in classes in Italy. Like the US, Italy has faced significant financial scandals and corporate failures in recent years. Both Italian and US penal laws have been changed to prevent future financial frauds, but there are limits to what laws can accomplish. The ethics presentation described in this paper was an effort to encourage students to consider the importance of ethics. The impact of the presentation on Italian student perspectives is described. In addition, a comparison is made of the impact of the presentation in Italy and in the US, which shows that students in both countries regard ethics as a very important topic.

ethics, ethical decision-making, accounting curriculum

Abstract:
This paper examines and compares, according to the new public management (NPM) approach, the United States watchdog, the General Accountability Office (GAO), in its ability to oversee and call to account the executive branch of government and its United Kingdom counterpart, the National Audit Office (NAO). Results of this examination indicate that the GAO is more effective than its UK counterpart. The greater effectiveness of the GAO may be that it derives its powers and legitimacy from the existence of a written constitution; in contrast, in the UK there is no equivalent 'sacrosanct' document defining the relationship between the state and the citizenry. As a consequence the powers, duties, and self-perception of the NAO are significantly weaker and more mutable than those of the GAO.

Public oversight, new public management, General Accountability Office, GAO, National Audit Office, NAO

Abstract:
Accounting regulation is one aspect of the government’s role in protecting the investing public’s interest. The Sarbanes-Oxley Act of 2002 (SOX) was an effort by the U.S. Congress to remedy negative effects of earlier major accounting failures. Requirements of SOX highlight the critical role of internal control as a component of accurate and reliable financial reporting. This new emphasis on effective internal controls places internal auditors of public companies at center stage. Internal audit departments are asked to identify, evaluate, and test the effectiveness of internal controls over financial reporting. This study examines the perceived role of the internal audit function in the external audit and financial reporting process. Results indicate that internal audit participation in the external audit process is perceived to be important by both internal and external auditors. Internal auditors are performing more work for the external auditors after the passage of SOX. Thus, implicitly, external auditors are placing greater reliance on the work of internal auditors.

Accounting regulation, SOX, internal auditing, public policy

Abstract:
Multinational enterprises (MNEs) must be able to communicate and process data efficiently and effectively throughout the firm. The use of information technology is often affected by the various cultures in which MNEs operate. Technological advances have altered the methods by which MNEs conduct both their domestic and international operations. Advances such as e-business, information security, and electronic financial reporting are among the most significant technological changes facing accountants. As accountants confront and resolve these challenges, they will need to consider the effects of culture on implementation and use of technology. The purpose of this study was to examine differences in cultural and organizational environments of MNEs. Based on these cultural differences, we formed and tested hypotheses regarding the utilization of information technology by accountants. The findings indicate that impediments to international data flow are significantly related to culture.

Culture, information technology, international business

Abstract:
This study examines factors that influenced public companies to retain or dismiss their audit firms as tax service providers during the years immediately surrounding the passage of the Sarbanes-Oxley Act (SOX) in 2002. We find a positive relation between a company’s tax and operating complexity and the probability that it retained its auditor-provided tax services, suggesting that complexity increases the potential benefits from knowledge spillover relative to the costs from perceived auditor independence impairment. We find a positive relation between the strength of a company’s corporate governance and the probability that it would retain auditor-provided tax services, suggesting that companies with strong governance expected benefits from knowledge spillover to exceed costs from perceived auditor independence impairment. Although we find no direct relation between auditor tenure and the decision to retain auditor-provided tax services, we do find a significant negative association between auditor retention and high non-tax NAS fees and between auditor retention and the joint effect of long auditor tenure and high non-tax NAS fees. Thus firms with low auditor independence and long audit tenure are less likely to retain their auditor for tax services than firms with high non-tax NAS fees alone.

governance, auditor independence, tax services, complexity, nonaudit services

Abstract:
Business firms are under scrutiny to provide accurate environmental reporting, including capital costs and operating expenses concerning pollution. Environmental reporting is incorporated into annual financial reports as well as specialized environmental reports. The extent or value of such information is an appropriate subject for accounting research. This study investigates environmental reporting in audited financial statements of U.S. and Canadian firms prior to SOP 96-1, to determine whether environmental regulation starting with SOP 96-1 was needed. One would expect that environmental information would be useful to shareholders and others in assessing the environmental risk exposure of a firm. The key question addressed by this study is whether a firm's reported environmental information (environmental capital costs and environmental operating costs) actually reflects the firm's pollution. The findings suggest that many firms were failing either to record or to fund necessary environmental expenditures, and therefore may have significant amounts of unrecorded future environmental obligations. As a result, the accounting guidance provided by FASB, starting with SOP 96-1, were appropriate for enhancing financial reporting regarding environmental matters.

Environmental Accounting, Public Interest Accounting, Financial Accounting, Accounting Regulation