We exploit a novel feature of management cash flow forecasts (MCFFs) to investigate how managers' discretion over forecast precision, clarity, and verifiability affects the bias, quality, and stock price effects of such forecasts. Many MCFFs are issued with an equivocal definition of the cash...

This paper investigates the capital market consequences of the SEC's decision to eliminate the reconciliation requirement for cross-listed companies following International Financial Reporting Standards (IFRS). We find no evidence that the elimination has a negative impact on firms' market...

Based on pre-IFRS data from Australia, we provide further evidence that disaggregating operating cash flow into its components enhances the predictive ability of aggregate operating cash flow in forecasting future cash flows. We also find that cash received from customers and cash paid to...

This paper investigates the capital market consequences of the SEC's decision to eliminate the reconciliation requirement for cross-listed companies following International Financial Reporting Standards (IFRS). We find no evidence that the elimination has a negative impact on firms' market...

The aims of the study is to know the effect of conservatism accounting, corporate social responsibility (CSR) disclosure and tax avoidance on earnings management. In this study variable of conservatism accounting was proxy by accrual. Variable of CSR disclosure was proxy by corporate social...

Based on the notion that the effects of IFRS adoption are dependent on changes in the institutional environment, this paper analyses the effects of one prominent feature of IFRS: the accounting for research and development (R&D) under IAS 38. In our setting, IFRS adoption is accompanied by a...

This study examines the impact of Regulation G in 2003 and the issuance of Compliance and Disclosure Interpretations (C&DIs) in 2010 – on the reporting of non-GAAP earnings. The study finds that (i) both Regulation G and C&DIs are associated with an increase in the quality of non-GAAP earnings...

Accounting Standards Update (ASU) 2011-05 eliminates the option to present other comprehensive income (OCI) in the statement of changes in stockholders' equity. This study empirically investigates whether this mandatory change of OCI presentation format achieves FASB's stated objective of...

This study examines the incremental information in loss firms' non-GAAP earnings disclosures relative to GAAP earnings. Using a large sample obtained through textual analysis and hand-collection, we posit and find that loss firms' non-GAAP earnings exclusions offset the low informativeness of...

We analyze the first quarter 2007 10-Q filings of 348 Samp;P 500 calendar year-end firms to provide evidence concerning the levels of, and changes in, unrecognized tax benefits (UTBs) resulting from the adoption of FASB Interpretation No. 48 (FIN 48). We draw the following conclusions. First,...