Transfer Pricing and Financial Reporting: some thoughts Messaoud Mehafdi This essay deals with the perennial transfer pricing (TP) puzzle and calls for the disclosure of TP information as a way of unravelling the puzzle in the new age of corporate governance and financial reporting transparency. Seen as a by-product of "managerial ambiguity by design" in large companies and labelled as a "perennial puzzle" , TP has over the years lived up to this cliché by creating complex management and tax problems
Words: 3451 - Pages: 14
Electronic media used on a system should be assumed to contain information commensurate with the security categorization of the system’s confidentiality. If not handled properly, release of these media could lead to an occurrence of unauthorized disclosure of information. Categorization of an information technology (IT) system in accordance with Federal Information Processing Standard (FIPS) 199, Standards for Security Categorization of Federal Information and Information Systems1 , is the critical
Words: 3672 - Pages: 15
(Chairman). I also appreciate comments from Jim Brickley, Philip Joos, Andy Leone, Jerry Warner, Joanna Wu, Yan Cao, Ling Lei, Laura Liu, Tao Kuang, and workshop participants at the University of Rochester. All errors are my own. * Abstract This paper investigates the economic consequences of the Sarbanes-Oxley Act through a study of market reactions to legislative events related to the Act. I find that the cumulative abnormal return around all legislative events leading to the passage of the Act
Words: 28191 - Pages: 113
to replace existing local GAAP with IFRS for SMEs. As a result, it holds important implications for US companies with multinational subsidiaries. The United Kingdom Accounting Standards Board (UK ASB), for example, has already issued a Consultation Paper asking for comments on its proposal to replace existing UK GAAP with IFRS by 2012. 2 PricewaterhouseCoopers Overview of Income Tax Accounting Treatment The Income Tax section of IFRS for SMEs contains several key provisions from the IASB’s
Words: 2378 - Pages: 10
An alternative approach to measurement that seeks to capture changes in asset and liability values over time. The International Accounting Standards Board (IASB) defines fair value as "... an amount at which an asset could be exchanged between knowledgeable and willing parties in an arms length transaction". Under the fair value measurement approach, assets and liabilities are re-measured periodically to reflect changes in their value, with the resulting change impacting either net income or other
Words: 3823 - Pages: 16
of a following grand jury hearing, Curley and Schulz were charged with failure to report and perjury for their untruthfulness about the sexual abuse allegations (Inside the Penn State Scandal, n.d.). Eventually, Paterno acknowledged McQueary’s disclosure and was fired by Penn State University (Inside the Penn State Scandal, n.d.). As a result of their investigation, an independent panel commission by Penn State and headed by former FBI Director Louis Freeh issued a report determining that Penn
Words: 803 - Pages: 4
* Involvement of people * Draft sustainability policy: Using resources wisely: * Econo-environmental: * Resource efficiency: Try to use resource efficiency, avoid to waste electric and water. * Sorting of recyclable paper from general rubbish * Environmental Stewardship * Clean air, water, and land * Lower pollution: Using low VOC paint when painting sets for performances to protect the health and safety of workers * Zero waste: Turn off the
Words: 1262 - Pages: 6
J. of Multi. Fin. Manag. 13 (2003) 123 Á/139 www.elsevier.com/locate/econbase Foreign-denominated debt and foreign currency derivatives: complements or substitutes in hedging foreign currency risk? William B. Elliott a,*, Stephen P. Huffman b, Stephen D. Makar b a Department of Finance, Oklahoma State University, 224 Business, Stillwater, OK 74078, USA b University of Wisconsin Oshkosh, Oshkosh, WI, USA Received 30 June 2001; accepted 20 April 2002 Abstract Using a unique dataset, this
Words: 8178 - Pages: 33
such institutional investor activism thereby casting a shadow of doubt on the role of institutional investors in corporate governance. The analysis of divergent theories on the incentives and disincentives governing the behaviour of institutional investors in this regard becomes pertinent. The questions that are sought to be addressed in this paper are as follows - a. What are the various incentives and disincentives to shareholder activism among institutional investors? b. What are
Words: 5083 - Pages: 21
[pic] Report on eramic Industry Ltd Course Code: F-401 Submitted by Yasir Bin Yousuf Roll :16-36 Department Of Finance Submitted to Hussain Ahmed Enamul Huda Lecturer Department of Finance University of Dhaka Date of submission 1 August, 201 Executive summary The ceramic industry is surprisingly not quite a new one in Bangladesh. It dates back to 1962. People Ceramic Industries Ltd (PCI) pioneered the manufacture of porcelain tableware
Words: 8381 - Pages: 34
