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Kang, Gerui (Grace)
JABM
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Other

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Are We Ready for the Changes in U.S. Accounting Standards? Some Evidence of Midwestern Universities Curriculum Kang, Gerui (Grace); Liu, Xiang; Hsiao, Daniel
JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT Vol 23 No 1 (2016): April
Publisher : JABM

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Abstract

The Financial Accounting Standards Board (FASB) has been working with the International Accounting Standard Board (IASB) on the reformation of the current U.S. accounting standards and the adoption of the concepts of the International Financial Reporting Standards (IFRS) in the U.S. The contents of IFRS have been included in the CPA exam beginning in 2011. The purpose of this study is to investigate whether business schools located in the Midwestern United States are ready for the transition. We find that most of the schools surveyed do not currently offer international accounting course as of spring 2011, either as a required or an elective. We are concerned about whether educators and students in the Midwest are ready for the change. We urge accounting educators to accelerate the integration of IFRS to their accounting curriculum. At the same time, given the resource constraints, it is time for the regulators to seriously consider postponing the deadlines
Effects of the Type of Accounting Standards and Motivation on Financial Reporting Decision Kang, Gerui (Grace); Lin, Jerry W.
JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT Vol 18 No 2 (2011): October
Publisher : JABM

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This study explores whether the precision (type) of accounting standards influences management accounting reporting behaviors when an environmental variable, motivation, is incorporated. We predict that motivation affects managements financial reporting decision. When management has motivations to make aggressive reporting, they are more likely to do so than if they do not have such motivation. Furthermore, we posit that the type of accounting standard interacts with motivation and affects managements accounting decision. When management has motivation to report aggressively, with rules-based accounting standards, management is more likely to be guided by the precise numerical thresholds to achieve aggressive reporting than with principles-based accounting standards. We conduct a 2x2 between-subjects experiment. Ninety-six senior accounting students participate in this study. The results support our predictions that when management has motivation for aggressive reporting, they will make motivation-consistent accounting choice. Furthermore, under rules-based accounting standards, management is more likely to choose aggressive reporting than under principles-based accounting standards, when management has motivations to do so.
Co-Authors Hsiao, Daniel Lin, Jerry W. Liu, Xiang