Forthcoming and Online First Articles

American Journal of Finance and Accounting

American Journal of Finance and Accounting (AJFA)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

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American J. of Finance and Accounting (2 papers in press)

Regular Issues

  • Accounting conservatism and firms performance: Evidence from Malaysian listed firms   Order a copy of this article
    by Saif Rehman 
    Abstract: This study examines the effect of audit committee and external auditor quality on two measures of accounting conservatism, and the benefits of accounting conservatism on firms performance. In addition, this study also investigates whether the two measures of conservatism (accrual based conservatism and asymmetrical timeliness conservatism) mediate the relationship between audit committee and external auditor quality factors with market based firms performance. \r\n\r\nA total of 543 sample firms are selected from the Bursa Malaysia for the period from 2004 to 2013. In addition, some information relating to audit committee and auditor quality are collected from firms annual reports. For data analysis, panel data methodology is employed and structural equation modeling (SEM) technique is used to test the developed hypotheses of this study.\r\nTwo well-known and widely accepted methods have been adopted as a measure of conservatism accrual based measure developed by Ball and Shivakumar (2005) and asymmetric timeliness measure introduced by Basu (1997). Regarding the firms performance a market-based indicator (Tobins Q ratio) is used in this study to measure firms performance. \r\n\r\nResults show that audit committee effectiveness and external auditor quality found to be significant with two-year-lagged effect on both measures of conservatism. Both measures of conservatism were found to be significant with immediate effect on market based firms performance. Furthermore, both measures of conservatism mediated the relationship between (a) audit committee effectiveness and market based firms performance, and (b) external auditor quality and market based firms performance. The findings of this study contribute to the signaling theory, agency theory, reputation theory and accounting conservatism literature in emerging economies settings. \r\n
    Keywords: Accounting conservatism; signaling theory; firms’ performance; Malaysian listed firms.

  • Accounting for Cryptocurrencies Under FASB and the Financial Reporting Impact on Large U.S. Corporations in 2020 and Beyond   Order a copy of this article
    by Hailey Currie, Stacy Boyer-Davis, Raina Oswald 
    Abstract: Cryptocurrencies are a highly debated subject in the USA framework. The issues discussed will be accounting for cryptocurrencies in the USA with a concentration on corporations. These problems involve government entities, market volatility, accounting methods, financial statement implications, public opinions, initial coin offers (ICOs), among others. Specifically, the topic of how to classify cryptocurrencies is discussed and the urge for decision-makers to make changes. Many opinions on the best way to classify cryptocurrencies exist. However, no official guidance concerning cryptocurrencies has been established. Cryptocurrencies are currently being treated in different ways in the accounting, financial, and tax worlds, which needs to be confronted. Additionally, the topic of cryptocurrency transactions’ impact on financial statements, the valuation of cryptocurrencies, and the taxation of cryptocurrencies are evaluated. Furthermore, the topics of how different accounting and tax treatments of cryptocurrencies will impact the financial statements if the rules were to change.
    Keywords: cryptocurrency; accounting; financial statements; taxes; government regulations; crypto assets; corporations; FASB; IRS; SEC.
    DOI: 10.1504/AJFA.2022.10051773