Employer Expectations Of Accounting Undergraduates Entry-Level Knowledge And Skills In Global Financial Reporting

The globalization of business has led to the adoption of International Financial Reporting Standards (IFRS) around the world. Recently, the Securities and Exchange Commission issued a roadmap for IFRS implementation starting in 2014, with earlier adoption permitted. Yet according to recent surveys, few U.S. universities have a strategy in place to integrate IFRS into the undergraduate accounting curriculum. Using survey research, this paper explores the entry-level knowledge and skills employers expect of new hires in the near term and five years from now. Results indicate that employers already require accounting graduates to have some awareness of IFRS and its relationship to U.S. GAAP. By 2013 students should be able to apply IFRS in recording transactions, prepare IFRS-based financials, and reconcile IFRS to U.S. GAAP. The paper concludes with recommendations based on survey results for incorporating IFRS into the undergraduate accounting curriculum

BIOMECHANICAL TRAITS ANALYSIS WHEN PERFORMING OF JUDO UCHIMATA BY POSTURE AND VOLUNTARY RESISTANCE LEVELS OF UKE

The purpose of this study was to analyze the biomechanical traits variables when performing uchimata (inner thigh reaping throw) by voluntary resistance levels (VRL) and two postures of uke (defender, receiver) in Judo. The postures of uke were shizenhontai (straight natural posture:NP) and jigohontai (straight defensive posture:DP), VRL of uke were 0% and 100%, respectively. The biomechanical variables were temporal (total time-required: TR), postures and COG during performing uchimata. It's important for jUdoists to prepare for individual analysis. prescription and countermeasures because they have experienced several variables when performing techniques according to opponent's postures and VRL in biomechanical aspects

Loan purpose and accounting based debt covenants

Purpose The purpose of this paper is to investigate the association between the purpose of a loan and the type of debt covenants, separated into balance sheet-based and income statement-based covenants. Design/methodology/approach Using private loan deal observations obtained from the DealScan database over the period between 1996 and 2013, the authors classify the sample loan deals into three categories based on the purpose of borrowing, namely, borrowings for corporate daily operating purposes, financing purposes and acquisition and investing purposes. The authors conduct multinomial logistic regression analysis to test the relationship between the choice of financial ratios in a debt covenant and the purpose of a loan, controlling for financing constraints and other factors that have been identified as important to debt covenant analysis in prior studies. Findings The results provide evidence that the purpose of the loan is significantly associated with the type of debt covenants, suggesting that the lender and the borrower have considered the loan purpose when structuring their debt agreements. More specifically, the results indicate that the loans borrowed to fund acquisitions or long-term investment projects are more likely to have income statement-based covenants and less likely to have balance sheet-based covenants. In contrast, the loans borrowed for corporate daily operating purposes or financing purposes are more likely to contain balance sheet-based covenants relative to income statement-based covenants. Research limitations/implications The authors show that loan purpose is significantly associated with the choice between income statement-based and balance sheet-based covenants. This result further illustrates ways in which accounting information improves contracting efficiency. The results are limited to the US market with its institutional structure. In future studies, it would be interesting to perform similar investigations on firms in other countries. Practical implications The findings contain important and economically significant implications indicating that loan lenders and borrowers agree to include different types of accounting information (that is, income statement- versus balance sheet-based financial ratios) in their loan covenants for different purpose loans. Social implications Overall, the results provide important evidence regarding the connection between debt covenant structure and loan purpose. In doing so, it contributes to the literature on debt contract design (Dichev and Skinner 2002; Chava and Roberts 2008; Demerjian 2011; Christensen and Nikolaev 2012). Despite much interest in debt contract design, Skinner (2011) argues that there still exists incomplete knowledge of the economic factors that structure debt contracts. Income statement-based covenants depend on measures of profitability and efficiency and act as trip wires that transfer control rights to lenders when borrowing firms’ performance deteriorates. On the other hand, balance sheet-based covenants rely on information about sources and uses of capital and align interests between borrowing firms and lenders by restricting the borrower’s capital structure. The authors show that loan purpose is significantly associated with the choice between income statement-based and balance sheet-based covenants. This result further illustrates ways in which accounting information improves contracting efficiency. Originality/value This study is the first to identify differences in trends over time for the use of income statement- and balance sheet-based covenants as it relates to different loan purposes. The authors build on prior research to examine the degree to which loan purpose is associated with the choice between income statement-based and balance sheet-based covenants

Highly precise AMCW time-of-flight scanning sensor based on digital-parallel demodulation

In this paper, a novel amplitude-modulated continuous wave (AMCW) time-of-flight (ToF) scanning sensor based on digital-parallel demodulation is proposed and demonstrated in the aspect of distance measurement precision. Since digital-parallel demodulation utilizes a high-amplitude demodulation signal with zero-offset, the proposed sensor platform can maintain extremely high demodulation contrast. Meanwhile, as all cross correlated samples are calculated in parallel and in extremely short integration time, the proposed sensor platform can utilize a 2D laser scanning structure with a single photo detector, maintaining a moderate frame rate. This optical structure can increase the received optical SNR and remove the crosstalk of image pixel array. Based on these measurement properties, the proposed AMCW ToF scanning sensor shows highly precise 3D depth measurement performance. In this study, this precise measurement performance is explained in detail. Additionally, the actual measurement performance of the proposed sensor platform is experimentally validated under various conditions

Automatic Internal Stray Light Calibration of AMCW Coaxial Scanning LiDAR Using GMM and PSO

In this paper, an automatic calibration algorithm is proposed to reduce the depth error caused by internal stray light in amplitude-modulated continuous wave (AMCW) coaxial scanning light detection and ranging (LiDAR). Assuming that the internal stray light generated in the process of emitting laser is static, the amplitude and phase delay of internal stray light are estimated using the Gaussian mixture model (GMM) and particle swarm optimization (PSO). Specifically, the pixel positions in a raw signal amplitude map of calibration checkboard are segmented by GMM with two clusters considering the dark and bright image pattern. The loss function is then defined as L1-norm of difference between mean depths of two amplitude-segmented clusters. To avoid overfitting at a specific distance in PSO process, the calibration check board is actually measured at multiple distances and the average of corresponding L1 loss functions is chosen as the actual loss. Such loss is minimized by PSO to find the two optimal target parameters: the amplitude and phase delay of internal stray light. According to the validation of the proposed algorithm, the original loss is reduced from tens of centimeters to 3.2 mm when the measured distances of the calibration checkboard are between 1 m and 4 m. This accurate calibration performance is also maintained in geometrically complex measured scene. The proposed internal stray light calibration algorithm in this paper can be used for any type of AMCW coaxial scanning LiDAR regardless of its optical characteristics