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This case provides students with the opportunity to gain hands on experience in the audit of cash disbursements, a voucher system and internal controls (or the lack there of) in the disbursement process. In particular, practical examples of concepts and procedures taught in an introductory auditing course, namely vouching, tracing, tests of controls and substantive testing are exemplified. The case includes sample invoices and a voucher register allowing the students to look at “actual” documents and ask good important questions. The case is broken down into three parts to allow students to receive feedback before continuing and the instructor plays the role of “consultant” providing an additional important learning opportunity. G & S Manufacturing is a small privately-held producer of steel products for the consumer market. As staff auditors performing part of the audit of G & S for the calendar year ended December 31, 2013 students will have to identify control deficiencies, substantive errors and other matters of concern in the audit of payables and cash disbursements. Students are provided with a copy of the voucher register for the month of December and all invoices relating to a selected sample of vouchers. The learning objectives of the case explicitly address the AICPA’s (American Institute of Certified Public Accountants) functional competencies of risk analysis, measurement and reporting; personal competencies of problem solving and decision making, and communication; and broad business competency of strategic/critical thinking.

The paper investigates the link between a firm's overall disclosure quality and its corpoate reputation. The results show that the measure of corporate reputation is positively related to the disclosure measure, after controlling for market and accounting signals indicating the size of assets, market assessment of the value of the assets in place and rate of return on assets.

Discordance between the degree of osteopenia and the prevalence of spontaneous vertebral fractures in Crohn's disease. Stockbrugger RW, Schoon EJ, Bollani S, Mills PR, Israeli E, Landgraf L, Felsenberg D, Ljunghall S, Nygard G, Persson T, Graffner H, Bianchi Porro G, Ferguson A. Departmen of Gastroenterology, University Hospital Maastricht, The Netherlands. rw.strockbrugger@intmed.unimaas.nl BACKGROUND: A high prevalence of osteoporosis has been noted in Crohn's disease, but data about fractures are scarce. METHODS: The relationship between low bone mineral density and the prevalence of vertebral fractures was studied in 271 patients with ileo-caecal Crohn's disease in a large European/Israeli study. One hundred and eighty-one currently steroid-free patients with active Crohn's disease (98 completely steroid-naive) and 90 steroid-dependent patients with inactive or quiescent Crohn's disease were investigated by dual X-ray absorptiometry scan of the lumbar spine, a standardized posterior/anterior and lateral X-ray of the thoracic and lumbar spine, and an assessment of potential risk factors for osteoporosis. RESULTS: Thirty-nine asymptomatic fractures were seen in 25 of 179 steroid-free patients (14.0%; 27 wedge, 12 concavity), and 17 fractures were seen in 13 of 89 steroid-dependent patients (14.6%; 14 wedge, three concavity). The prevalence of fractures in steroid-naive patients was 12.4%. The average bone mineral density, expressed as the T-score, of patients with fractures was not significantly different from that of those without fractures (-0.759 vs. -0.837; P=0.73); 55% of patients with fractures had a normal T-score. The bone mineral density was negatively correlated with lifetime steroids, but not with previous bowel resection or current disease activity. The fracture rate was not correlated with the bone mineral density (P=0.73) or lifetime steroid dose (P=0.83); in women, but not in men, the fracture rate was correlated with age (P=0.009). CONCLUSIONS: The lack of correlation between the prevalence of fractures on the one hand and the bone mineral density and lifetime steroid dose on the other necessitates new hypotheses for the pathogenesis of the former

Composite Manufacturing is a thriving privately-held company, whose owners need to attract outside investors. Composite’s financial statements have not been professionally prepared nor audited. Although there is no fraud or intentional wrongdoing, the inexperience of the owners and their bookkeeper has resulted in improper financial reporting. In this case students will have to identify and restate revenues, expenses, assets, liabilities, and retained earnings in so far as they are not reported in accord with generally accepted accounting principles. Students are provided with a “Student Adjustment Template” and a “Student Worksheet Template” that allow them to make correcting entries in an organized manner as well as make subsequent changes to the financial statements. Instructors will be provided with teaching notes, a “Student Adjustment Template Solution” and a “Student Worksheet Template Solution” upon contacting the authors.

This article reports on anecdotal evidence gathered from a recent survey of women public accounting professionals. Stanko and Schneider (1999) conducted the first national survey on sexual harassment in the public accounting profession and Stanko et al followed up with a more recent 2009 study. In this paper, the anecdotal evidence gathered from the Stanko et al study is reported on. Analysis of written comments is important in that many respondents spent a great deal of time providing comprehensive and concise professional comments on specific recent experiences involving sexual harassment, rather than simply checking a box. The findings of this study show sexual harassment remains a serious concern, and that sexual discrimination in the workplace is a concern as well. Although preventive measures have been put in place, these measures may not be working as well as intended, suggesting that public accounting firms need to revisit this issue to manage risk.

A high prevalence of osteoporosis has been noted in Crohn's disease, but data about fractures are scarce.The relationship between low bone mineral density and the prevalence of vertebral fractures was studied in 271 patients with ileo-caecal Crohn's disease in a large European/Israeli study. One hundred and eighty-one currently steroid-free patients with active Crohn's disease (98 completely steroid-naive) and 90 steroid-dependent patients with inactive or quiescent Crohn's disease were investigated by dual X-ray absorptiometry scan of the lumbar spine, a standardized posterior/anterior and lateral X-ray of the thoracic and lumbar spine, and an assessment of potential risk factors for osteoporosis.Thirty-nine asymptomatic fractures were seen in 25 of 179 steroid-free patients (14.0%; 27 wedge, 12 concavity), and 17 fractures were seen in 13 of 89 steroid-dependent patients (14.6%; 14 wedge, three concavity). The prevalence of fractures in steroid-naive patients was 12.4%. The average bone mineral density, expressed as the T-score, of patients with fractures was not significantly different from that of those without fractures (-0.759 vs. -0.837; P=0.73); 55% of patients with fractures had a normal T-score. The bone mineral density was negatively correlated with lifetime steroids, but not with previous bowel resection or current disease activity. The fracture rate was not correlated with the bone mineral density (P=0.73) or lifetime steroid dose (P=0.83); in women, but not in men, the fracture rate was correlated with age (P=0.009).The lack of correlation between the prevalence of fractures on the one hand and the bone mineral density and lifetime steroid dose on the other necessitates new hypotheses for the pathogenesis of the former.

This paper provides a detailed description of a unique program focused on preparing students for entry into the accounting profession. The program, Preparing for the Profession, consisted of four distinct workshops provided to accounting majors during fall semester 2010. Planning for the program began a year earlier during a meeting of Accounting Advisory Board members and faculty. Each session addressed a distinct aspect of the accounting profession and consisted of a panel discussion of six to eight accounting and business professionals. The sessions were 90 minutes in length and discussion focused on 25 pre-submitted questions by student attendees. Specific objectives were formulated for each session and assessment data subsequent to the workshops completion indicated that the program was a success in meeting those objectives.

M ORE than the members of other academic disciplines the anthropologists are intrigued by the Peace Corps. It covers the parts of the world that have been until recently their special interest; it aims to deal with that level of the world's people that anthropologists have studied-the "ordinary" people-andits conditions of action are in some important ways the same as those that cultural anthropologists have used in their research work overseas.