English Abstract: The municipalities of the Commonwealth of Puerto Rico are eligible to receive funds from the federal government of the United States. This study presents a descriptive discussion of the federal funding received by these municipalities during fiscal years 2005 to 2009. The...

Prior research has investigated various factors affecting auditor performance when examining the internal control system of an entity. However, one factor that remains relatively unexplored is the geographic distance between auditors and their municipal clients. This study explores whether...

This paper, following McGoun's (1997) seminal article comparing the economy of financial securities to a hyperreal poker game, argues that finance and accounting researchers should take the “linguistic turn” that has rejuvenated theory and research in many, if not most, of the social science...

The Public Company Accounting Oversight Board (PCAOB) recently suggested that auditors' lack of specific fraud planning documentation has led auditors to devote insufficient attention to fraud risks in subsequent audit work. Guided by Support Theory, we experimentally investigate how the...

I examine whether managers use discretion in revenue recognition to avoid three earnings benchmarks. I find that managers use discretion in both accrued revenue (i.e., accounts receivable) and deferred revenue (i.e., advances from customers) to avoid negative earnings surprises, but find little...

This study examines factors that influenced public companies to retain or dismiss their audit firms as tax service providers during the years immediately surrounding the passage of the Sarbanes-Oxley Act (SOX) in 2002. We find a positive relation between a company's tax and operating complexity...

This paper provides contextual explanations on the related aspects of Working Capital (WC) management. The objective of the paper is to illustrate related variables and cash management models in the WC management, especially from an accounting learning point of view. Initially, WC has been...

All introductory economics textbooks proffer essentially the same definition of economics. “Economics is the study of the allocation of scarce resources…” (Worstall, 2015; Yuille, 2015). The methods and fora for allocating limited or scarce resources are determined and constrained by the legal...

Objective - the timeliness of financial statement submission becomes important in decision making. With the growing importance of timely financial statements for the relevance of decision making, an understanding of the determinants of audit report lag becomes necessary. This research intends to...

Dozens of judicial opinions have held that shareholders own corporations, that directors are agents of shareholders, and even that directors are trustees of shareholders' property. Yet, until now, it has never been proven. These doctrines rest on unsubstantiated assumptions. In this book the...