confound inferences of fund managers' performance, and the demonstration of empirical evidence to support this argument. …

focuses on developing a theoretical framework for process design in order to provide some guidelines for managers. The …

research shows accruals enable managers to improve on cash flows as a mesure of firm performance. However, since accruals … provide managers with a means of managing reportedearnings, previous research also documents evidence of opportunistic accrual … management. Opportunistic accruals are estimated using discretionary-accrual models that seek to separate earnings into …