The Accounting World

COVER STORY

Environmental Advantage for Shareholder Value Creation

- - Bibhuti B Pradhan

The article brings out the significance of intangibles as environmental advantages for sustainable shareholders value creation and identifies the intangible value driver, and the environmental advantage process. It is a case study on environmental reporting practices across countries.

© 2006 IUP . All Rights Reserved

ACCOUNTING

Fair-Value Accounting Analyzing the Changing Environment

- - Rebecca Toppe Shortridge, Amanda Schroeder, and Erin Wagoner

FASBs exposure draft, Fair Value Measurement, has brought renewed attention to the debate between historical-cost measurement and fair-value measurement in financial statements.

© 2006 The CPA Journal (www.cpajournal.com). This article was published in the April 2006 issue of The CPA Journal. Reprinted with permission

AUDITING

Auditing Foreign Exchange Trade Transactions

- - TR Shastri

With liberalization in foreign exchange space and risk-based supervision approach of the RBI, the transaction-based verification is getting delegated to auditors. The auditors are required to know the accounting rules applicable to foreign exchange transactions, nitty-gritty of the foreign exchange and also the internal procedures of the bank. In the present computerized environment, they are also required to be conversant with the software used by the banks for the forex transactions.

© 2006 IUP . All Rights Reserved

BUSINESS ENVIRONMENT

Business Continuity : The Key to Survival

- - Lucian Cernusca, and Cristina Puscas

The article focuses on the business development in the US and other countries after the 9/11 tragedy at the World Trade Center. The authors also focus on how stock exchanges like the NSE, Nasdaq, and American Stock Exchanges restarted their activities.

© 2006 IUP . All Rights Reserved

FRAUD

Misreported Assets and Liabilities

- - Jyothi G Rao

The author presents various techniques of misreporting assets and liabilities based on the book "Misreported Assets and Liabilities" authored by Charles W Mulford and Eugene E Comiskey.

© 2006 IUP . All Rights Reserved

Article Price : Rs.50

Details

COST ACCOUNTING

Activity-based Costing

- - Jayanta Kishore Nandi

In the era of globalization, many multinational companies are trying to capture the Indian market by selling their products at low prices. Hence, if Indian organizations have to compete with foreign organizations, they have no other alternative but to control cost. It will be feasible only by controlling the overhead costs, as we know that in majority of the cases, out of the total cost, 60-70% comprises of overheads. This article analyzes how cost can be effectively controlled with the help of Activity-based Costing (ABC) rather than traditional costing.

© 2006 IUP . All Rights Reserved

SOA

The Investment Policy Sarbanes-Oxley `First Line of Defense

- - Richard Saperstein

© 2006 Financial Executive. This article was published in the Financial Executive of April 2006. Reprinted with permission.

TECHNOLOGY

Detecting Duplicate Invoice Payments System Integrity

- - Rick Mathias

The article is about how the businesses overpay vendors and suppliers by making payments through invoice, paying by statement, data input errors, and by circumventing the accounting system. The author presents `test for any duplicate invoice payments as one of the way to check the accounting systems for integrity.

© 2006 IUP . All Rights Reserved.

Article Price : Rs.50

Details

TECHNOLOGY

Automated Data Auditing : The Silver Lining of Regulatory Compliance

- - Govind Seshadri, and Ashok Swaminathan

Automated data auditing helps organizations to expedite the compliance process and also simplifies the work of internal auditors.

© 2006 ITAudit (www.theiia.org/itaudit). This article was published in the Vol. 9, March 2006 issue of The Institute of Internal Auditors Inc.

SPEECH

Speech by SEC Commissioner Regulatory Role of Exchanges and International Implications of Demutualization

- - Roel C Campos Commissioner, US Securities and Exchange Commission Armonk, New York.

The speech is on the demutualization of American stock exchanges and also on its international implications. He also addressed current issues in the Trans-Atlantic Discourse and finally focused on the Acquisition or Mergers of Cross-Border Exchanges.

© 2006 US Securities and Exchange Commission (www.sec.gov). Speech by Roel C Campos, Commissioner delivered on March 10, 2006 in Armonk, New York, US Securities and Exchange Commission.