A key principle of financial reporting is that substance matters, not form. This is how auditors ensure that a firm will be viable in the future. The authors provide a checklist of goals that an organization should examine in order to determine whether it is investing in the long-run rather than...

One researcher asserts that half of the 4,000 colleges and universities in the United States will be bankrupt within the next few decades. Change is coming whether colleges and universities like it or not. Think of what is happening to the newspapers and retailers. Unfortunately, most...

A fundamental principle taught to all accounting and business students is that the goal of the firm is maximization of shareholder value (MSV). In order for accountants and auditors to provide firms with ethical recommendations that keep it strong and healthy, they must understand the negative...

The perceived purpose of college education has shifted in the past century from teaching ethics/morality/values to acquiring a philosophy of life to acquiring the skills to do well in a career. Acquiring the right skills for professional success means taking the right courses. This paper...

Many people in education, from students to elected officials, see a college degree as a way to gain the skills needed for a successful career. To develop these skills, students must choose suitable courses. This paper first identifies the essential skills for professional and personal success....

This paper discusses a paradigm for rating college presidents that stresses factors that provide long-term value such as vision, faculty engagement, building a learning organization, providing ethical leadership, increasing student satisfaction, and enhancing the reputation of the organization....

Companies that are going to thrive must have a soul. Those that are only concerned with “maximizing shareholder wealth” or “maximizing profit” will find themselves going the way Enron went. CEOs will have to lead the revolution and should be the ones exhorting executives to make...

Accountants and auditors are no longer number crunchers that are primarily concerned with examining historical data. They are being used by most firms to provide advice and as such are often the power behind the throne. As advisors, they need to understand that they play an important role in how...

Change is coming to higher education, whether colleges and universities like it or not. The institutions of higher education that survive will be the ones that learn how to eliminate bloat and become efficient. This paper highlights four simple changes that could save colleges millions of...