Lehman

My colleague here at Texas, John McInnis, just sent around an interesting email to the UT faculty. I thought I’d share it more broadly. He raises an interesting question..   The web is a abuzz with the release of the Lehman Brothers post-mortem by the Bankruptcy Examiner yesterday.  I wasn’t aware of potential accounting gimmicks: [...] Read more > >

Research on social norms and financial reporting

Part of Tuesday’s Roundtable with Scott Dyreng focused on how social norms might interact with accounting and financial reporting.  In the typed and voice chat, reference was made to a paper by Paul Fischer and Steven Huddart, titled “Optimal Contracting with Endogenous Social Norms” (American Economic Review, Sept 2008, 1459-75).  Read more > >

The Definition and Measurement of Liabilities

In class yesterday, I stumbled upon an interesting apparent inconsistency between accounting for pensions and the accounting for compensated employee absences, which I had taught several weeks ago. When teaching my students about accruing for vacation pay, I observed that it seemed that if we knew for certain that employees were likely to get a [...] Read more > >

Costs of Debt Covenant Violations — Roundtable with Scott Dyreng

Join us Tuesday, March 9 at 4pm when Scott Dyreng of Duke University discusses his recent research on the cost of violating covenants on private debt.  The key message of the paper is that firms are willing to pay extra taxes in order to avoid debt covenant violations.  The study uses a somewhat unfamiliar data [...] Read more > >

Roundtable on The Costs of Violating Debt Covenants, Scott Dyreng

Join us Tuesday, March 9 at 4pm when Scott Dyreng of Duke University discusses his recent research on the cost of violating covenants on private debt.  The key message of the paper is that firms are willing to pay extra taxes in order to avoid debt covenant violations.  The study uses a somewhat unfamiliar data [...] Read more > >

Follow up on March 2009 mark to market hearing

About a year ago (March 12, 2009) the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Entities held a hearing titled “Mark-to-Market Accounting: Practices and Implications.”  The Committee members directed several hours of fairly hostile questioning to FASB Chairman Bob Herz and SEC Chief Accountant Jim Kroeker.  If you have not seen [...] Read more > >

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