GASB Statement No. 31: Why No Controversy?

Fair value reporting of investments in the financial statements of commercial enterprises is required under FASB Statement No. 115. The standard created much controversy when issued due to provisions that changes in fair values of certain investments were recognized in the operating statement. A major concern to many organizations was the volatility these recognized, but unrealized, changes in fair value would create in reported earnings. When the GASB issued Statement No. 31 requiring fair value reporting of investments there was little controversy concerning volatility to reported earnings of governmental entities, even though the standard required much broader application of fair value reporting. This study examined a possible explanation for the lack of controversy surrounding fair value reporting in the public sector. An analysis of the financial reports of the major U.S. municipalities provided empirical evidence of the significance of investments earnings to municipal revenues, investment assets to total assets, and the significance of changes in fair values of investments to investment earnings and total revenues. Financial reports and accompanying notes for fiscal years 1994 to 1998 were examined. Results indicate that overall, investments earnings were not a significant component of governmental fund revenues. However, investment earnings were significant for certain governmental fund types. The difference between costs and fair market values of investments also did not appear to be material to most governmental funds. The minimal impact of the fair value reporting on earnings offers a partial explanation for the lack of debate surrounding adoption of fair value reporting of investment by governmental entities

A Descriptive Comparison Of Two Sources Of Occupational Fraud Data

The propose of this study was to determine if the data contained in the Internal Auditor “Roundtable” and “Fraud Finding” columns are consistent with data reported in the ACFE’s Report to the Nation.  Cases of fraud reported in the Internal Auditor columns were analyzed, summarized, and compared to the data contained in the Report to the Nation.  The results show significant similarities between the two data sources

A Descriptive Comparison Of Two Sources Of Occupational Fraud Data

The propose of this study was to determine if the data contained in the Internal Auditor “Roundtable” and “Fraud Finding” columns are consistent with data reported in the ACFE’s Report to the Nation.  Cases of fraud reported in the Internal Auditor columns were analyzed, summarized, and compared to the data contained in the Report to the Nation.  The results show significant similarities between the two data sources

Broadscale density and aggregation of pelagic birds from circumnavigational survey of the Antarctic Ocean

We analyzed the spatial distribution and habitat relationships of pelagic birds on a circumnavigational cruise of Antarctica. Our analysis focused on two issues. First, we present a quantitative description of the structure of Antarctic seabird assemblages. This descriptive information benefits from a much more longitudinally extensive data set than previously available. Second, we used 18 crossings of the edge of the pack ice and 15 crossings of the continental slope to clarify the spatial relationship between aggregations of pelagic birds and these physical features. Our analysis corroborates the uniformity of bird species composition over the longitudinal range we covered. We found that the habitats with light (2/10 to 6/10 coverage) pack-ice cover had the lowest density and biomass of birds of the four ice habitats (open water, icebergs only, light pack ice, heavy pack ice) surveyed. Even though overall bird abundance was not concentrated at the ice edge, aggregations of individual species were statistically likely to appear there. We found only a slight (34%) elevation in bird biomass over the continental slope, despite repeated previous findings of bird aggregations associated with the Antarctic slope front. Finally, 45% of the seabirds we observed were in three large aggregations. We suggest this concentration demonstrates the importance of localized patches of prey to foraging seabirds in the Antarctic

Changes in the Numbers of Cetaceans near the Pribilof Islands, Bering Sea, between 1975-78 and 1987-89

We compared the number of cetaceans seen during surveys of seabird distribution in the vicinity of the Pribilof Islands, Bering Sea, during two periods, 1975-78 (3867 km surveyed) and 1987-89 (6101 km surveyed). During the 1980s, we saw increased numbers of fin whales (Balaenoptera physalus) (0 to 66 individuals), minke whales (B. acutorostrata) (3 to 38 individuals), humpback whales (Megaptera novaeangliae) (0 to 24 individuals), killer whales (Orcinus orca) (5 to 58 individuals), and Dall's porpoises (Phocoenoides dalli) (101 to 241 individuals). It could not be determined whether these changes reflected changes in the numbers of these species in the Bering Sea, or simply local changes in their foraging or distribution patterns. Fin, humpback and minke whales were seen foraging in the vicinity of large flocks of birds that were eating euphausiids (Thysanoessa raschii and T. inermis).Key words: Fin whale, minke whale, humpback whale, killer whale, Dall’s porpoise, Balaenoptera physalus, Balaenoptera acutorostrata, Megaptera novaeangliae, Orcinus orca, Phocoenoides dalli, Bering Sea, whale foragingOn a comparé le nombre de cétacés aperçus durant des relevés de la répartition d'oiseaux marins dans le voisinage des îles Pribilof, dans la mer de Béring, durant deux périodes de trois ans, de 1975 à 1978 (3867 km de distance de relevés) et de 1987 à 1989 (6101 km de distance de relevés). Au cours des années 1980, on a aperçu un plus grand nombre de rorquals communs (Balaenoptera physalus) [de 0 à 66 individus], de petits rorquals (B. acutorostrata) [de 3 à 38 individus], de rorquals à bosse (Megaptera novaeangliae) [de 0 à 24 individus], d'épaulards (Orcinus orca) [de 5 à 58 individus] et de marsouins de Dall (Phocoenoides dalli) [de 101 à 241 individus]. On n'a pu déterminer si ces changements reflétaient une évolution du nombre de ces espèces dans la mer de Béring, ou simplement des modifications locales dans les schémas d'alimentation ou de répartition. On a aperçu des rorquals communs, des rorquals à bosse et des petits rorquals en train de se nourrir à proximité de grandes volées d'oiseaux qui se nourrissaient d'euphausiacés (Thysanoessa raschii et T. inermis).Mots clés: rorqual commun, petit rorqual, rorqual à bosse, épaulard, marsouin de Dall, Balaenoptera physalus, Balaenoptera acutorostrata, Megaptera novoaeangliae, Orcinus orca, Phocoenoides dalli, mer de Béring, alimentation des baleine

Attitudes of Students and Practitioners Regarding Ethical Acceptability of Accounting Transactions

This study reports the findings of a study assessing the acceptability differences in decisions made by Certified Public Accounting practitioners (CPA) and students studying to become CPAs. The study responds to researchers’ call for additional research on topics related to accounting decision ethics. Modified managerial and accounting recognition scenarios were used to collect the acceptability of ethical judgments. The analysis employs factor analysis to affirm whether the scenarios are mana­gerial or accounting recognition decisions. The analyses further divides the managerial decisions into either revenue or expense related. The accounting recognition decisions are further divided into those involving an accounting manipulation or inventory related. Students’ acceptability of the accounting transactions was far harsher than the practitioners. However, both students and practitioners considered the accounting scenarios to be unethical. Both students and practitioners judged the managerial revenue scenarios to be ethical but the managerial expense scenarios to be moderately unethical. In addition to the ethical acceptability of accounting transaction, student and practitioner demographic data including age, work experience and academic credentials are investigated to explain the differences

Marine Birds in the Marginal Ice Zone of the Barents Sea in Late Winter and Spring

We recorded the distribution and abundance of marine birds in the northern Barents Sea from 27 February to 8 March 1987 and from 20 to 31 May 1988. Birds were more abundant in waters associated with pack ice than in open water away from pack ice. Within the pack ice, thick-billed murres (Uria lomvia) were the most commonly encountered birds in both periods. Murre densities in the pack ice north of the zone proximate to the ice edge were positively correlated with distance of birds present. In spring, we found more birds along a well-defined ice edge than were present either in open water or in leads in the pack ice within 5 nautical miles of the ice edge. Transects along the ice edge revealed little correlation in abundance between species, or within species when coverage was repeated during the same day. We conclude that the birds showed considerable specificity of habitat choice within the habitat divisions that we recognized and that avian patches were of short duration. We need information on the distribution, abundance and movements of prey patches if we are to understand the changing distribution patterns of the birds.Du 27 février au 8 mars 1987 et du 20 au 31 mai 1988, on a procédé à un relevé de la distribution et de l'abondance des oiseaux marins dans la partie septentrionale de la mer de Barents. Les oiseaux étaient plus abondants dans les eaux associées à la banquise que dans l'eau libre située loin de la banquise. La marmette de Brünnich (Uria lomvia) est l'oiseau que l'on retrouvait le plus souvent dans le périmètre de la banquise au cours des deux périodes de l'étude. La densité de marmettes sur la banquise, au nord de la zone proche de la lisière de glace, était corrélée de façon positive avec l'éloignement de la lisière de glace. Les grands chenaux étaient plus fréquemment occupés par les brunettes que les petits chenaux, et les oiseaux y étaient présents en plus grand nombre. Au printemps, on trouvait plus d'oiseaux le long d'une lisière de glace bien définie qu'on en trouvait soit dans l'eau libre, soit dans des chenaux présents dans la banquise à moins de cinq milles marins de la lisière de glace. Des transects longeant la lisière de glace n'ont révélé qu'une faible corrélation entre l'abondance des diverses espèces, ou au sein d'une même espèce lorsque le relevé était répété au cours de la même journée. On en conclut que les oiseaux manifestaient une grande spécificité dans le choix de leur habitat au sein des divisions de l'habitat établies par nous et que les regroupements aviens étaient de courte durée. Si l'on veut comprendre l'évolution des schémas de distribution des oiseaux, on doit avoir plus de renseignements sur la distribution, l'abondance et les mouvements des regroupements de proies

Modeling Underwater Visual and Filter Feeding by Planktivorous Shearwaters in Unusual Sea Conditions

Short-tailed Shearwaters (Puffinus tenuirostris) migrate between breeding areas in Australia and wintering areas in the Bering Sea. These extreme movements allow them to feed on swarms of euphausiids (krill) that occur seasonally in different regions, but they occasionally experience die-offs when availability of euphausiids or other prey is inadequate. During a coccolithophore bloom in the Bering Sea in 1997, hundreds of thousands of Short-tailed Shearwaters starved to death. One proposed explanation was that the calcareous shells of phytoplanktonic coccolithophores reduced light transmission, thus impairing visual foraging underwater. This hypothesis assumes that shearwaters feed entirely by vision (bite-feeding), but their unique bill and tongue morphology might allow nonvisual filter-feeding within euphausiid swarms. To investigate these issues, we developed simulation models of Short-tailed Shearwaters bite-feeding and filter-feeding underwater on the euphausiid Thysanoessa raschii. The visual (bite-feeding) model considered profiles of diffuse and beam attenuation of light in the Bering Sea among seasons, sites, and years with varying influence by diatom and coccolithophore blooms. The visual model indicated that over the huge range of densities in euphausiid swarms (tens to tens of thousands per cubic meter), neither light level nor prey density had appreciable effects on intake rate; instead, intake was severely limited by capture time and capture probability after prey were detected. Thus, for shearwaters there are strong advantages of feeding on dense swarms near the surface, where dive costs are low relative to fixed intake rate, and intake might be increased by filter-feeding. With minimal effects of light conditions, starvation of shearwaters during the coccolithophore bloom probably did not result from reduced visibility underwater after prey patches were found. Alternatively, turbidity from coccolithophores might have hindered detection of euphausiid swarms from the air

Hydrographic Features, Cetaceans and the Foraging of Thick-billed Murres and Other Marine Birds in the Northwestern Barents Sea

The at-sea distribution of thick-billed murres (Uria lomvia) in southeastern Svalbard waters was studied during the summers of 1992, 1993, and 1996. The Storfjordrenna region south of Svalbard was confirmed as an important foraging area for thick-billed murres; murre aggregations were located at distances of 85 to 126 km from the closest breeding colonies. Fish, mainly polar cod (Boreogadus saida), but also capelin (Mallotus villosus), were the main prey found in 16 murres and 3 black-legged kittiwakes (Rissa tridactyla) collected from these aggregations. Murres were seen flying with fish in their beaks at four locations 78 to 102 km away from the colonies. Murre aggregations were associated with frontal zones between cold Arctic waters and warmer Atlantic water, and in areas with strong stratification in salinity at 15-30 m. A positive association was found between the abundance of murres and the occurrence of cetaceans. Murres and other marine birds were often seen near surfacing cetaceans. The most common cetaceans were minke whales (Balaenoptera acutorostrata) and white-beaked dolphins (Lagenorhynchus albirostris).Durant les étés de 1992, 1993 et 1996, on a étudié la distribution en mer de la marmette de Brünnich (Uria lomvia) dans les eaux du sud-est du Svalbard. La région Storfjordrenna au sud du Svalbard a été confirmée comme une zone importante de collecte pour la marmette de Brünnich; des concentrations de marmettes étaient situées à des distances allant de 85 à 126 km des colonies nicheuses les plus proches. Le poisson, en particulier la morue polaire (Boreogadus saida), mais aussi le capelan (Mallotus villosus), était la proie principale trouvée chez 16 marmettes et 3 mouettes tridactyles (Rissa tridactyla) prélevées dans ces concentrations. On a vu les marmettes voler avec du poisson dans leur bec à quatre endroits éloignés de 78 à 102 km des colonies. Les concentrations de marmettes étaient associées à des zones frontales entre les eaux froides de l'Arctique et l'eau plus chaude de l'Atlantique, et dans des régions ayant une forte stratification dans la salinité à une profondeur de 15 à 30 m. On a trouvé qu'il existait une association positive entre l'abondance des marmettes et la présence des cétacés. On voyait souvent les marmettes et d'autres oiseaux marins près des cétacés qui faisaient surface. Les cétacés les plus communs étaient les petits rorquals (Balaenoptera acutorostrata) et les dauphins à nez blanc (Lagenorhynchus albirostris)