Campbell, F, White, A & Warren, V 2014, Cloud 9 LTD: An Audit Case Study, Canadian Edition, Wiley, Canada.
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This case study book is designed to provide students with the opportunity to work through various audit procedures that are performed during the planning and interim phases of a financial statement audit. Typical client scenarios that are regularly observed in the profession are the basis for this case study, and the aim is to expose students to the tasks they would typically perform in their first year of auditing practice.
Collins, A & Pazmandy, G 2014, Payroll Accounting Including Using MYOB Payroll.
Pazmandy, G 2014, MYOB V19.8 AccountRight Plus A Practical Guide to Computer Accounting.
Bohle, P, Rawlings-Way, O, Finn, J, Ang, J & Kennedy, DJ 2014, 'Housing Choice in Retirement: Community versus Separation', Housing Studies, vol. 29, no. 1, pp. 108-127.
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Brown, PR, Feigin, A & Ferguson, A 2014, 'Market Reactions to the Reports of a Star Resource Analyst', Australian Journal of Management, vol. 39, no. 1, pp. 137-158.
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Keith Goode has for many years been one of Australia's highest profile mining analysts. He is unique among them, being a commissioned analyst. Goode's clients-mostly small cap mining companies with limited analyst coverage-pay for a report, which he publishes electronically, but only if his report is positive. Using reports published over eight years from September 2001, we estimate his clients typically benefit by about AUD$14m, or almost 10% of the company's share market value, with much of the benefit coming almost immediately after the report's release. Market liquidity surges in the first hour of trading, with the value of trades, flow of buy orders relative to sells, and level of overall activity all increasing significantly. To demonstrate significance, we develop 'fractile analysis', a robust, relatively powerful and quite general method for detecting abnormal market activity. Our study is relevant to day traders, analysts and other information intermediaries. The methodological refinement should also interest students of 'abnormal' market behaviour. © The Author(s) 2013.
Coulton, J, Ruddock, CMS & Taylor, SL 2014, 'The Informativeness of Dividends and Associated Tax Credits', Journal of Business Finance & Accounting, Vol. 41, vol. 41, no. 9, pp. 1309-1336.
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© 2014 John Wiley & Sons Ltd. This paper investigates the informativeness of dividends and the associated tax credits with respect to earnings persistence. After confirming that dividend-paying firms have more persistent earnings than non-dividend-paying firms, we show that the taxation status of the dividend is also important. Firms that pay dividends with a full tax credit attached have significantly more persistent earnings than firms that pay dividends which carry no associated tax credit. Consistent with higher levels of tax credits identifying more mature firms, those paying dividends with full tax credits have significantly less persistent losses than firms that pay dividends with only partial tax credits. Further, market pricing tests confirm that the incremental information in dividends and tax credits contributes to reductions in market mispricing of the persistence of earnings and earnings components. Our results are robust to alternative model specifications and controlling for dividend size and firm age.
Dyson, LE, Frawley, JK, Tyler, J & Wakefield, J 2014, 'Facilitating Enhanced Learning in Tutorials through Tablet Computing Enabled Sharing and Annotation Technologies', Transactions on Mobile Learning, vol. 3, pp. 22-26.
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The purpose of this study is report on a trial of tablet computing enabled sharing and annotation technologies in an Introductory Accounting subject. These technologies allow student homework to be photographed using a tablet computer (iPad in our study), shown to the class instantaneously through a data projector and annotated live by the tutor, along with student participation, using the tablet computer. These technologies are intended to address calls for more student–centred approaches to learning, moving away from the didactic approach that dominates much of accountingeducation. Two focus group sessions were conducted to explore the effectiveness of the technologies, with the first group from a class where the tutor used the iPad and the second from a class wherethere was no iPad use. The findings from the focus groups suggest that in the class where the iPadwas used, there was a far greater ability to focus on the questions and problems students were facing,a lot more material could be covered, student felt more comfortable participating because they couldsee their fellow students faced similar challenges and they were far more likely to completehomework prior to class. Overall this indicates there were significant benefits for students.
Ferguson, A & Scott, T 2014, 'What If There Were Three? Audit Pricing within the Big 4 and the PricewaterhouseCoopers' Premium in the Australian Audit Market', International Journal of Auditing, vol. 18, no. 1, pp. 57-67.
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This paper examines intra‐Big 4 audit fee premiums in the Australian market. During the period examined (2002–2004), there is both Big 4 and intra‐Big 4 market dominance. The three largest firms – the ‘Big 3’ (Ernst & Young, KPMG and PricewaterhouseCoopers) – hold over 80 per cent of audit fees for companies listed on the Australian Securities Exchange. We find the main feature of the Australian audit market over this period is a PwC brand premium, which suggests price competition and thus no collusive pricing. Within the Big 4, audit pricing effects are likely to be a growing area of inquiry in future audit pricing literature. Overall, our study implies that regulatory concerns about a lack of a competition in the audit market during this period are inconsistent with the audit pricing evidence.
Ferguson, A, Pündrich, G & Raftery, A 2014, 'Auditor Industry Specialization, Service Bundling, and Partner Effects in a Mining-Dominated City', AUDITING: A Journal of Practice & Theory, vol. 33, no. 3, pp. 153-180.
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SUMMARY:This study examines auditor industry specialization effects in Perth, a remote mining town in Australia characterized by a large number of small, homogeneous firms. We consider the impact of leadership by the non-Big 4 auditor BDO Kendalls (BDO) for a sample of 371 mining development stage entities (MDSEs). After controlling for factors known to determine audit fees, we find no evidence of auditor industry leadership fee premiums accruing to BDO, a result robust to a range of sensitivity tests including the broadening of tests Australia-wide. However, when the dependent variable is redefined to the total “bundle” of services provided by the audit firm (including audit and non-audit fees), the industry leader is shown to earn a fee premium suggesting BDO uses audits as a conduit to supply higher-margin non-audit services. Our findings suggest that strategic pricing by industry leaders may not be confined to Big 4 firms.
Bedford, DS 1970, 'Qualitative Comparative Analysis In Management Accounting Research', 37th Annual Congress of the European Accounting Association, Tallin, Estonia.
Bedford, DS, Malmi, T & Sandelin, M 1970, 'Combinations of Strategy and Control: A Set-Theoretic Approach', Accounting and Finance Association of Australia and New Zealand (AFAANZ), Auckland, New Zealand.
Bedford, DS, Malmi, T & Sandelin, M 1970, 'Configurations of Strategy and Control: A Set-Theoretic Approach', 37th Annual Congress of the European Accounting Association, Tallinn, Estonia.
Benn, S, Crittenden, P, Brown, PJ & Brown, D 1970, 'Networks of Practice for Energy Efficiency: a Role for Boundary Objects', Academy of Management Proceedings, Academy of Management Conference, Academy of Management, pp. 13055-13055.
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Grosse, MJ & Ferguson, A 1970, 'Market reactions when zero-leverage firms obtain bank finance', Accounting and Finance Association of Australia and New Zealand Conference, Auckland, New Zealand.
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Prior studies of bank loan announcements depict significant capital market reactions. More recent evidence however, fails to identify such reactions (Fields et al. 2006, Maskara & Mullineaux 2011). In this study, we consider market reactions to loan initiations where the borrower has no prior record of bank lending. Zero-leverage firms are firms that have zero outstanding short-term or long-term debt in their capital structure (Strebulaev & Yang 2013). Using a unique hand collected sample of bank loan announcements for Australian Mining Development Stage entities, we find that both initial bank loans and subsequent bank loans attract significant market reactions. Further, we produce evidence consistent with announcements of such loans reducing information asymmetry which we proxy for with bid-ask spreads and trading volume. Our final analysis examines evidence of bank specialisation. We find that borrowers from the industry leader in terms of loan origination (Macquarie Bank) in this sector exhibit stronger abnormal returns.
Grosse, MJ & Ferguson, A 1970, 'Market reactions when zero-leverage firms obtain bank finance', UTS Emerging Accounting Researcher Consortium, UTS Emerging Accounting Researcher Consortium, UTS.
Loyeung, AL & bugeja 1970, 'Acquisition date goodwill: determinants and market reaction', Accounting and Finance Association of Australia and New Zealand Conference, Auckland, New Zealand.
Loyeung, AL & Bugeja 1970, 'What drives the allocation of purchase price to goodwill?', European Accounting Association, Tallinn, Estonia.
Ma, L, Christodoulou, D & Vasnev, A 1970, 'The Impact of Quarterly Real Activities Management on Earnings Quality', The 2014 American Accounting Association Annual Meeting, The 2014 American Accounting Association Annual Meeting, Atlanta, United States.
Ma, L, Christodoulou, D & Vasnev, A 1970, 'The Impact of Quarterly Real Activities Management on Earnings Quality', The 2014 Accounting and Finance Association of Australia and New Zealand Conference, Accounting and Finance Association of Australia and New Zealand Conference, Auckland, New Zealand.
Ma, L, Christodoulou, D & Vasnev, A 1970, 'The Impact of Quarterly Real Activities Management on Earnings Quality', the 37th Annual Congress of the European Accounting Association, The 37th Annual Congress of the European Accounting Association, Tallinn, Estonia.
Spiropoulos, H, Bugeja, M & MAtolcsy, Z 1970, 'Some Evidence on the Determinants and Performance Consequences of the CEO Pay Slice', Accounting and Finance Association of Australia and New Zealand Conference, Auckland, New Zealand.
