The mathematical and economic foundations of accounting measurement

In many respects, the present state of the theory of accounting measurement resembles that of probability theory before the path breaking analysis of A.N. Komolgorov. In accounting, as in "pre - Komolgorov" probability theory, there have been numerous attempts at providing a set of axioms for accounting measurement, all of which have either been ignored or subjected to varying degrees of criticism. By building on these prior attempts, the present thesis proposes an alternative set of axioms and then investigates its implications for accounting measurement in general.The unifying conception has been alluded to already. The thesis endeavours to show that the theory of accounting measurement is, in fact, grounded upon three axioms, and it is the specification of the information assumed given by these axioms, which is the source of many (if not all) of accounting's problems. The remainder of the thesis deals with the more important of these problems. Thus, chapter three concerns itself with the statistical estimation and identifiability of accounting measurement rules; chapter four, with the commonly encountered models (or interpretations) of the axiom system alluded to above; chapter five, with some numerical methods for estimating the replacement cost of asset disposals (a necessary piece of datum if we are to provide the axiom system with a replacement cost interpretation), whilst chapter six, relying on the capital theory of Irving Fisher, deals with the economic foundations of accounting measurement.There are two major conclusions which emerge from the study:Firstly, by summarizing the antecedent conditions which must be satis- fied before it is possible to generate accounting measurements, the "axiomatic method" provides a useful framework from which to determine (and organize) the relative importance of measurement problems in accounting. However, much remains to be done if the method is to achieve its "ideal" function as a watershed or "clearing house" for measurement problems in accounting.Secondly, Irving Fisher's "capital theory" possesses far greater potential for accounting theory than has hither to been realized. Specifically, by deriving Fisher's "investment opportunity locus" from first principles, as distinct from assuming it to be exogeneously specified, it is possible to provide an economic rationale for each of the measurement systems alluded to in chapter four

Just how expert are “expert” video-game players? Assessing the experience and expertise of video-game players across “action” video-game genres

Video-game play (particularly “action” video-games) holds exciting promise as an activity that may provide generalized enhancement to a wide range of perceptual and cognitive abilities (for review see Latham et al., 2013a). However, in this article we make the case that to assess accurately the effects of video-game play researchers must better characterize video-game experience and expertise. This requires a more precise and objective assessment of an individual's video-game history and skill level, and making finer distinctions between video-games that fall under the umbrella of “action” games. Failure to consider these factors may partly be responsible for mixed findings (see Boot et al., 2011)

The precision of experienced action video-game players: Line bisection reveals reduced leftward response bias

Twenty-two experienced action video-game players (AVGPs) and 18 non-VGPs were tested on a pen-and-paper line bisection task that was untimed. Typically, right-handers bisect lines 2 % to the left of true centre, a bias thought to reflect the dominance of the right-hemisphere for visuospatial attention. Expertise may affect this bias, with expert musicians showing no bias in line bisection performance. Our results show that experienced-AVGPs also bisect lines with no bias with their right hand and a significantly reduced bias with their left hand compared to non-AVGPs. Bisections by experienced-AVGPs were also more precise than those of non-AVGPs. These findings show the cognitive proficiencies of experienced-AVGPs can generalize beyond computer based tasks, which resemble their training environment

Earlier visual N1 latencies in expert video-game players: a temporal basis of enhanced visuospatial performance.

Increasing behavioural evidence suggests that expert video game players (VGPs) show enhanced visual attention and visuospatial abilities, but what underlies these enhancements remains unclear. We administered the Poffenberger paradigm with concurrent electroencephalogram (EEG) recording to assess occipital N1 latencies and interhemispheric transfer time (IHTT) in expert VGPs. Participants comprised 15 right-handed male expert VGPs and 16 non-VGP controls matched for age, handedness, IQ and years of education. Expert VGPs began playing before age 10, had a minimum 8 years experience, and maintained playtime of at least 20 hours per week over the last 6 months. Non-VGPs had little-to-no game play experience (maximum 1.5 years). Participants responded to checkerboard stimuli presented to the left and right visual fields while 128-channel EEG was recorded. Expert VGPs responded significantly more quickly than non-VGPs. Expert VGPs also had significantly earlier occipital N1s in direct visual pathways (the hemisphere contralateral to the visual field in which the stimulus was presented). IHTT was calculated by comparing the latencies of occipital N1 components between hemispheres. No significant between-group differences in electrophysiological estimates of IHTT were found. Shorter N1 latencies may enable expert VGPs to discriminate attended visual stimuli significantly earlier than non-VGPs and contribute to faster responding in visual tasks. As successful video-game play requires precise, time pressured, bimanual motor movements in response to complex visual stimuli, which in this sample began during early childhood, these differences may reflect the experience and training involved during the development of video-game expertise, but training studies are needed to test this prediction

Simon-Task Reveals Balanced Visuomotor Control in Experienced Video-Game Players

Both short and long-term video-game play may result in superior performance on visual and attentional tasks. To further these findings, we compared the performance of experienced male video-game players (VGPs) and non-VGPs on a Simon-task. Experienced-VGPs began playing before the age of 10, had a minimum of 8 years of experience and a minimum play time of over 20 h per week over the past 6 months. Our results reveal a significantly reduced Simon-effect in experienced-VGPs relative to non-VGPs. However, this was true only for the right-responses, which typically show a greater Simon-effect than left-responses. In addition, experienced-VGPs demonstrated significantly quicker reaction times and more balanced left-versus-right-hand performance than non-VGPs. Our results suggest that experienced-VGPs can resolve response-selection conflicts more rapidly for right-responses than non-VGPs, and this may in part be underpinned by improved bimanual motor control

The impact of SFAS 157 on fair value accounting and future bank performance

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The predictive value of bank fair values

Fair value, the value of an item in an orderly exchange, has been shown to have greater value relevance than historical cost. However, there is limited literature on the predictive ability of fair value. Our study contributes to this emerging area of research by examining the predictive ability of the SFAS 107 fair value disclosures by U.S. banks for future performance as measured by operating cash flows and earnings over a three-year time horizon. Furthermore, we provide evidence on the influence of the 2007/2008 Global Financial Crisis (GFC) on the relationships between bank fair values and future performance, thereby showing whether market illiquidity affected the underlying relationships. We also test for the impact of bank characteristics - size, capital adequacy and growth prospects - on predictive ability. Our findings suggest that fair values have predictive ability for both the cash flow and earnings measures of performance and that the GFC did not have an adverse impact on the predictive ability of bank fair values. However, we find that the predictive ability of fair value is strongest for operating cash flows. The study supports the relevance of fair value, as indicated by predictive ability for performance, and thus makes an important contribution to the fair value accounting literature and accounting standard-settingfalsePublishe

Ages on weathered Plio-Pleistocene tephra sequences, western North Island, New Zealand

Using the zircon fission-track method, we have obtained five ages on members of two strongly-weathered silicic, Pliocene-Pleistocene tephra sequences, the Kauroa and Hamilton Ash formations, in western North Island, New Zealand. These are the first numerical ages to be obtained directly on these deposits. Of the Kauroa Ash sequence, member K1 (basal unit) was dated at 2.24 ± 0.29 Ma, confirming a previous age of c. 2.25 Ma obtained (via tephrochronology)from K/Ar ages on associated basalt lava. Members K2 and K3 gave indistinguishable ages between 1.68 ± 0.12 and 1.43 ± 0.17 Ma. Member K12, a correlative of Oparau Tephra and probably also Ongatiti Ignimbrite, was dated at 1.28 ± 0.11 Ma, consistent with an age of 1.23 ± 0.02 Ma obtained by various methods on Ongatiti Ignimbrite. Palaeomagnetic measurements indicated that members K13 to K15 (top unit, Waiterimu Ash) are aged between c. 1.2 Ma and 0.78 Ma. Possible sources of the Kauroa Ash Formation include younger volcanic centres in the southern Coromandel Volcanic Zone or older volcanic centres in the Taupo Volcanic Zone, or both. Of the Hamilton Ash sequence, the basal member Ohinewai Ash (HI) was dated at 0.38 ± 0.04 Ma. This age matches those obtained by various methods on Rangitawa Tephra of 0.34-0.35 Ma, supporting correlation with this Whakamaru-caldera derived deposit. The origin of the other Hamilton Ash beds is unknown but various younger volcanic centres in the Taupo Volcanic Zone are possible sources. The topmost member, Tikotiko Ash (H6-H7), is estimated to be aged between c. 0.18 and 0.08 Ma. Various silicic pyroclastic deposits documented in North Island and in marine cores may be co-eval with members of the Kauroa Ash and Hamilton Ash sequences on the basis of their age

Tokamak equilibria and transport based on Grad`s thirteen moment description

In this thesis, I study collisional transport of a hot magnetically confined plasma in a tokamak. The weakly collisional plasma is modeled by Grad`s two-fluid thirteen moment equations. This model provides a better treatment of the stresses and the heat fluxes than do collisional fluid models such as Braginski`s. Using physical parameters for a typical tokamak, I estimate the orders of magnitude of various effects. I obtain a reduced system by neglecting small terms in the two-fluid thirteen moment equations. This reduced model includes small particle flows, pressure anisotropy and temperature variation within flux surfaces. The reduced model is compared with standard fluid models. To understand better the behavior of solutions of this system, I expand the solution in a formal series in powers of the small parameter (m{sub e}/m{sub i}){sup 1/4}. Flux coordinates are used to solve the equations in a general axisymmetric geometry. In lowest order, the equilibrium solution consists of a number of arbitrary flux functions together with a Grad-Shafranov equation relating the poloidal flux and the toroidal current. The energy dynamics of the system is complicated and requires determining the solution to high order. As corrections to the lowest order solution are calculated, the equilibrium is extended to successively longer time scales until on the time scale {tau}{sub e}m{sub i}/m{sub e}, time independent solutions are in general not possible. I calculate the time evolution of the lowest order solution on the time scale {tau}m{sub i}/m{sub e}, a time scale consistent with experiment

Linking seasonal forecasts into RiskView to enhance food security contingency planning

RiskView is a tool developed by the World Food Programme (WFP) to translate weather data (real-time and historical) and other spatial information (e.g., crops, drought risk, population, etc.) into food security needs and response costs. It serves as a swift way of estimating costs in advance of food insecurity outlooks for financial planning, and for facilitating better resource allocations to disasters before on-the-ground needs assessments are produced