Financial crises often result in government intervention to reallocate “bad paper” to new owners (purchasers), introducing valuation challenges for accountants, auditors, and those relying on their judgments. This paper argues that financial reporting of this reallocation and its subsequent...

This paper examines the evolution of the US public accounting industry from providers of audit services to ultimate regulation by a quasi-government agency. During the past 30 years, consolidation within the industry led to the counterintuitive result of increased competition for audit services....

We present spreadsheets as a tool for teaching economics. In particular, we focus on how a price searching firm chooses its profit maximizing quantity. We then extend the example to competitors in a two-firm market. Students can alter the demand and cost structure to see the impact on market...