The purpose of this study is to assess various financial reporting frauds that occurred at the segment-level. This study describes firm characteristics, the types of fraudulent activities, some of the financial effects, as well as the perpetrator of the fraud. Although one of the primary...

While SFAS No. 131 is intended to increase the transparency of financial reporting using a “management approach,” it may reduce shareholders' ability to interpret segment disclosures relative to the ‘industry approach' employed under SFAS No.14. This study investigates whether segment...

Under SFAS No. 131, a company is required to provide a reconciliation of the total of the reportable segments' profit or loss to the firm's consolidated income. This paper investigates these segment disclosures and related determinants of managers' segment financial reporting choices. We focus...

In early 2006, the AICPA released Alerts #90 and #98 which, following Securities and Exchange Commission guidance, allowed firms to reclassify cash flow items without penalty. We investigate the market effects of the cash flow restatements by investigating the abnormal trading volume reaction to...

The FASB, PCAOB, SEC, and AICPA have all acknowledged that the accounting field needs to revisit the statement of cash flows (SCF). While the overall number of restatements has held steady over the past five years, the percentage of cash flow restatements (CFRs) has risen from 8.7% of all...