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It is contended that the treble character of corporate profit accounting has resulted in the concurrent degradation of profit reporting to capital markets and tax authorities. It is pointed out that the related debasement of book and tax profits arises from altered technological possibilities.

The equity method was used in the United Kingdom and the United States as an early form of consolidation of subsidiaries. Past and present uses of the equity method are analyzed and criticized, and development of the terms 'associated company' and 'equity method' are examined.

A study was performed on the data of 78 firms listed on the Stock Exchange of Singapore Mainboard between 1983 and 1997 in order to determine what macro-economic and firm specific factors are likely influences the asset write-off decision in Singapore where upward revaluations are permitted. Results showed that GDP growth-rate, occupancy rate of properties, unemployment are macroeconomic factors and change of board chairman and profitability are firm specific factors relevant to asset write-off decisions.

In recent years harmonization of accounting standards has been a topic of initiatives because many policy makers believe that accounting regulation harmony at regional, national and international levels will lead to practice harmony. Comparisons of the accounting practices and regulations across New Zealand and Australia, two countries aiming for harmonization in their programs, shows there is a link between regulation harmonization and practice harmony.

Quality of accounting information continues to be a concern in Australia and elsewhere in the world. A 2001 investigation by the Royal Commission into the failure of HIH, one of Australia's largest insurance companies, brought to question whether or not creative accounting is breaking the law. Similar questions are being asked in the United States where business magazines are focusing on many companies who have been caught overstating earnings.

The results of adverse rulings by the British Financial Reporting Review Panel concerning financial statements are investigated. Those firms with defective statements apparently perform better in later periods are are only suffering from a temporary setback.

The authors investigate the significance of corporate financial accounting, focusing on the use of financial statements to forecast future corporate earnings. An evaluation of current financial reporting methods, investors' dependence on statements, and models of different financial accounting techniques are presented.

The authors discuss the usefulness of financial statements to corporate investors, focusing on the relationship between cash flow and returns. Suggestions for improving the worth of financial information include management of intangible investments, and restatement of financial accounts.

The authors discuss the relationship between corporate earnings and valuation of NYSE common stocks. Topics include historical changes of accounting standards, creation of the Securities and Exchange Commission, and differences between the Accounting Principles Board and the Financial Accounting Standards Board.

Corporations' management of their financial statements are evaluated, focusing on their reporting of dividend taxation and its impact on corporate valuation. The authors conclude that omitting dividend taxes from balance sheets overstate retained earnings while understating liabilities.

The research paper of authors Sudipta Basu, LeeSeok Hwang and Ching-Lih Jan furnish new information regarding the impact of cross-country differences in accounting measurement rules by determining accounting attributes which influence earnings forecasting and volatility. Their contribution is a practical initial step toward a grasp of the institutional variations of accounting systems that influence their relevance and contribution to the efficient global allocation of capital.

Cross-country differences in accounting measurement rules were examined as part of study which aimed to determine whether or not the use of varying accounting measurement rules influences the predictability of corporate earnings. Results of the study will enhance the understanding of the effect of different accounting systems on the capacity of a specific set of users (financial analysts) to evaluate companies' financial performance.

A new study investigates the ways in which large UK corporations disclose information to their shareholders and how the process is related to financial reporting. Case studies of interviews with senior executives of 33 companies are used to gain insight into corporate disclosure. It is shown that the financial report is a key part of a larger system of corporate disclosure.

The audit profession has undergone significant changes in the last decade. Specifically, the Big Eight was reduced to the Big Six by the merger of Deloitte, Haskins and Sells with [...]

A study was conducted on 808 financially troubled firms from the years 1984-1991 to investigate the possible influence of auditor incentives in decisions to release going-concern disclosures to financially-distressed client enterprises. A model is designed that will reflect the auditor's going-concern disclosure as a function both of the client business' financial conditions/prospects and variables linked with the auditor's loss function including prospective audit fees, the duration of the auditor-client relationship, recent auditor litigation, client losses and the existence of previously disclosed evidence of going concern difficulties. Results do not seem to support the contention that auditors' going-concern disclosure decisions are methodically influenced by certain incentive factors that were included in the study.

An examination of the practice of incorporating consolidated statements in the financial reports of listed companies in Sydney, New South Wales, shows that this practice had been markedly influenced by government regulations. This finding contradicts that of a previous study which traces the widespread use of the practice to stipulated requirements between financier and debtor companies. Government regulations as well as changing business practices and evolving accounting education curricula highlighted the usefulness of this practice.

An examination of supplier concentration in the UK's audit services market is presented. The study analyzes auditor concentration ratios across plc, quoted and unquoted sectors. It is shown that 58.2% of companies in the middle market are audited by the six largest auditors, which appear to be targeting the sector to increase their market share.

A study was conducted to investigate the effect of auditor switching on the audit fees of the Australian Securities Commission's Western Australian Div. A regression model of audit fees was developed for 268 companies to compare the fees charged by new and incumbent auditors. Results showed that audit fee charged for initial audits were lesser than non-initial audits and not all new editors charged lower fees than incumbent auditors. This suggests that although price-cutting is plausible, it was not widely used by the companies to reduce the cost of audits.