There, In the Shadows: The Grace of Art in a "River Runs Through It"

"Any man-any artist, as Nietzsche or Cezanne would say- climbs the stairway in the tower of his perfection at the cost of a struggle with a deunde-not with an angel, as some have maintained, or with his muse. This fundamental distinction must be kept in mind if the root of a work of art is to be grasped." -Frederico Garcia Lorc

The Glory of His Discontent: The Inconsolable Suffering of God

"He who is satisfied has never truly craved. And he who craves for the light of God neglects his ease for ardor." -Rabbi Abraham J. Hesche

The Dance of Truth

We want God to make sense, to be reasonable, to act according to how we think God should act. This kind of thinking, though, is not far from where we live today. If I give money to the church, then God will bless me financially. If I have my “quiet time” in scripture, then God will bless my day. If I raise my children right, then surely they will turn out right. In themselves these actions are good and right; however, we have to ask ourselves, “Do our motives emerge from the desire to give a place to the mystery of faith, or, rather, to conquer mystery?

An Empirical Examination of the Usefulness of the Motley Fool\u27s Flow Ratio

An item in the Motley Fool recently caught our attention. The article “Cisco vs. Lucent: The Flow Ratio Tells All” (by Matt Richey, June 6, 2000, in The Motley Fool.fool.com), introduced a new ratio that Richey claimed to be useful for measuring the investment worthiness of a company. Since our Financial Statement Analysis course covers traditional ratio analysis and since we were exploring some research ideas on measuring liquidity, the Fool Ratio seemed worthy of investigatio

Boards Of Advisors In Small Businesses: An Empirical Profile Of Their Composition And Use

This article discusses the literature coverage on Boards of Advisors to date and provides the results of a study designed to determine the formation and composition of Boards of Advisors and the ways in which small businesses use such boards. Our study surveyed the Chief Executive Officers or Presidents of a large sample of small businesses. We found that there is very limited use of Boards of Advisors in small businesses and that many small business managers are not aware of the concept of a Board of Advisors. However, those small business managers (97%) that use a Board of Advisors characterize their interaction with their Boards of Advisors as good or excellent. When selecting board members, the responding executives seek practical experience, good “common sense” and industry experience as the most important types of expertise. Most board members were male (67%), active in business (90%), have managerial/strategy or law (52%) and are not compensated (53%)

The Standard Auditor\u27s Report: Preparer, User, And Student Reactions To The PCAOB Concept Release

Concerns about the usefulness of the Standard Audit Report (SAR) have been expressed by investors and other users of corporate financial statement for several decades. During 2011 the Public Company Accounting Oversight Board (PCAOB) reacted to those concerns by issuing Concept Release on Possible Revisions to the PCAOB Standards Related to PCAOB Standards (“Release”). This article provides a description of the SAR, a short history (timetable) of the pressures (surveys) to improve the SAR and events that have led to the eventual Release by the PCAOB. Feedback (comment letters and surveys) from professionals and professional organizations regarding the “Release” are examined and discussed. Accounting and finance majors, future preparers and users of the financial statements, were surveyed to determine both their reactions to the PCAOB’s SAR and whether their reactions were different than practitioners. This article concludes with an analysis of the results and implications for audit practice and education

Winners and Losers: Spatial variations in labour productivity in England and Wales

This paper presents an investigation into the static and dynamic spatial pattern of aggregate labour productivity across England and Wales at the district and unit authority level. This analysis is complemented by plant-level regressions to identify the contribution of industrial sectors to each NUTS1 region’s average labour productivity. Using data for 1998 and 2005, our exploratory data analysis illustrates that there are stable spatial patterns in levels of labour productivity and that labour productivity change does not appear to be spatially dependent, at least not at this spatial scale. Furthermore the economic importance of different sectors to different regions evolves over time, which makes regional industrial policy formation problematic.Labour productivity; districts and local authorities; sectors; spatial autocorrelation

Microeconomic foundations of geographical variations in labour productivity

This paper initially presents an exploratory spatial data analysis which indicates the presence of small-scale geographical variations in levels and standard deviations of labour productivity across England and Wales in 2005. We identify the presence of spatial autocorrelation for both measures. This finding motivates a subsequent review and extension of theories which suggest the possible presence of small-scale geographical patterns of labour productivity.Labour productivity; standard deviation; districts and local authorities; geographical autocorrelation

Earnings Management and Its Implications

In the wake of continuing, highly publicized financial frauds and failures, the accounting profession has placed renewed emphasis on issues related to earnings management and earnings quality. Staff Accounting Bulletin 101, Revenue Recognition in Financial Statements, which was issued in December 1999 in response to the Committee of Sponsoring Organizations of the Treadway Commission report, illustrates the importance of earnings to the SEC. The SEC and the public are demanding greater assurance about the quality of earnings. Notwithstanding the grave threat that abusive earnings-management practices pose to the reliability and accuracy of financial statements, the accounting profession may be reluctant to address this issue. While there is evidence that accounting educators are attempting to make accounting students aware of abusive earnings-management practices, further efforts are needed by state societies and public accounting firms to better equip CPAs with the tools necessary to identify earnings-management techniques. Education could help to reduce the expectations gap between auditors and financial statement users