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Summer 2014

MAQ Cover Summer 2014


By Malcolm Schwartz
Implementing five basic principles of good management leads to more efficient and effective processes and offers a general solution to integrating internal control and risk management into the business of the organization.
By Sylwia Gornik-Tomaszewski, DBA, CMA, CFM
Accounting textbooks focus on widely used decision models to determine risk associated with capital investment analysis but do not delve into the details of additional techniques. To expand classroom discussion, accounting instructors can use an Excel-based simulation model. This article contains a simple example.
By Matthew M. Wieland, Ph.D.; Mark C. Dawkins, CMA, CPA, Ph.D.; and Michael T. Dugan, DBA
Standard & Poor’s (S&P) developed an earnings measure called Core Earnings, which aims to improve U.S. financial reporting by providing a uniform earnings measure. Statistics show that it is more valuable and more relevant than reporting with U.S. Generally Accepted Accounting Principles (GAAP).
By Veena L. Brown, Ph.D., CPA; Brian Daugherty, Ph.D., CPA; Denise Dickins, Ph.D., CPA, CIA; and Julia Higgs, Ph.D., CPA
Auditor independence requires auditors to maintain an unbiased mental attitude when performing an audit, and auditor rotation requirements help to decrease bias. In a survey the authors conducted, auditor partners perceive the value of mandatory auditor rotation as a means of enhancing auditor independence and improving financial reporting quality.