At the present time, considerable attention is being devoted to the merits of accounting information obtained from valuation bases other than historical cost. Alternative valuation bases could provide relevant information in the context of firms with impaired or appreciated assets. In this...

Given the "pervasive and powerful influence" of published ratings, an attempt was made to explain municipal bond ratings using information normally obtainable from financial reports. It appears that rating assignments are more closely associated with the flow of liquid financial resources from...

Current municipal GAAP is geared toward monitoring the narrow notion of dollar accountability (i.e., compliance with budgeted dollar spending limits). It is argued that even with the limitation of present measurement technology, accountants involvement in municipal financial reports could play a...

Municipal bond rating changes can have significant consequences for both borrowers and investors. Multivariate discriminant analysis (MDA) was used to examine whether financial ratios could discriminate between cities that had their ratings upgraded or downgraded from an A rating. In addition,...

The current measurement focus in municipal financial report­ing is "revenue minus expenditure" or the inflow and outflow of liquid financial resources on a modified accrual basis. One of the issues raised, in the FASB Discussion Memorandum on a concep­tual framework for reporting by...

We investigate whether reputation concerns provides sufficient incentive for Big Four auditors to provide higher quality audits in ASEAN (Association of South East Asian Nations) countries where litigation exposure is low or nonexistent. We proxy audit quality based on the quality of reported...