Announcements

ANNOUNCEMENT

ABACUS A Journal of Accounting and Business Studies
Volume 25 Number 1 March 1989
Opening Address: Fifth World Congress of
Accounting Historians
J. M. Ward
Time in Accounting R. J. Chambers
Walter Mahlberg’s Valuation Theory: An Anomaly in
the Development of Inflation Accounting
O. Finley Graves
The Use of a Statement of Changes in Financial Position
to Interpret Financial Data: An Empirical Investigation
Michael Bradbury and Sonja Newby
The Effects of State Risk and Controllability Filters on
Compensation Contract and Effort Choice Michael D. Shields, Chee W. Chow and O. Ray Whittington
Cash Flow Accounting Revisited: A Note on a Partial
Replication of the Lee Study
John E. McEnroe
Volume 25 Number 1 March 1989

Announcements
ACCOUNTING AND BUSINESS RESEARCH

Number 73 Winter 1988
A research quarterly published by the
Institute of Chartered Accountants
in England and Wales
Editors: C. W. Nobes, University of Reading R. H. Parker, University of Exeter

CONTENTS

The Adoption of Consolidated Accounting in Paul Bircher
Great Britain
Modelling Accounting Populations for Ratio Hung Chan
Estimation in Audit Sampling
The Association Between Qualified Opinions A. T. Craswell and Auditor Switches
Spin-offs and Sales of Assets: An Examination of Karen Craft Denning Security Returns and Divestment Motivations
The Court’s Power of Discretionary Relief in David Gwilliam
Actions Against Auditors
The Non-submission of Accounts and Small Kevin Keasey
Company Failure Prediction Robert Watson
Some Implications of Auditor and Client John B. MacArthur
Lobbying Activities: A Comparative Analaysis
General Price-level Adjustment: Some Mark Tippett
Properties of the Edwards and Bell Method Geoffrey Whittington
An Axiomatic Theory of Accounting R. J. Willett
Measurement — Part II
Attributability and Distributability of Profit to Robert F. Sharp
Shareholders: A Reply Eric E. Spires
Subscriptions should be sent to 40 Bernard Street, London WC1N 1LD, England. Subscriptions rates are:
UK Overseas Overseas Airmail
Individual £22 £24 £29
Student £11 £12 £17
Corporate/Institutional £32 £33 £38
All subscriptions can be paid in US dollars at current rates of exchange.

Announcement
JOURNAL OF ACCOUNTING EDUCATION

Volume 7, No. 1 Spring 1989
EDITOR MANAGING EDITOR
E. Kent St. Pierre Lamont F. Steedle
School of Accounting School of Accounting
James Madison University James Madison University
Harrisonburg, VA 22807 Harrisonburg, VA 22807
Associate Editors
James Anderson Bradley M. Roof
California Polytechnic State University James Madison University
Richard E. Baker Kevin D. Stocks
Northern Illinois University Brigham Young University
Lawrence H. Hammer David E. Stout
Oklahoma State University Villanova University
James E. Rebele
Rutgers University

MAIN SECTION

Changes in Accounting Education — Jay M. Smith and
Milton F. Usry
Repeating the First College-Level Accounting Course: Empirical Evidence from
Four Institutions — Bruce A. Baldwin, David A. Hansen, Keith R. Howe,
and Dick D. Wasson
An Empirical Examination of the Effect of Previous Internship Experience on
Interviewing Success — William R. Pasewark, Jerry R. Strawser, and
Jack E. Wilkerson, Jr.
Strengthening the Ethics Content of Accounting Courses — Edmund Scribner
and Manson P. Dillaway
Effort-Expectation and Academic Performance in Managerial Cost
Accounting — Mohamed E. Ibrahim
Integrating Concepts from Accounting, American History and English
Literature: A Cluster Course Approach — Michael L. Fetters, James
Hoopes, and Martin Tropp
Intertopical Ordering Effects: The Case of Managerial Accounting — Bruce A.
Baldwin, Diane D. Pattison, and Richard B. Toolson
An Analysis of Current Accounting Programs in the Context of the Anderson,
Treadway, and Bedford Reports — Roger H. Hermanson and Joseph V.
Carcello

TEACHING AND EDUCATION NOTES SECTION

Explaining the Conditional Nature of the Audit Risk Model — James A. Yardley …. A Business Game as the Decision Environment for DSS Development —
Ya’akov Zeisel
Teaching the Combined Effects of Current and Prior Period Unadusted
Differences in Auditing — Thomas R. Craig
Modernizing the Net Present Value Model — J. Ralph Byington and
Peter John Poznanski
CASE SECTION
A Simple Case to Illustrate Residual Ownership, Capital Maintenance, Audience
Selection and the Importance of Information Processing Characteristics —
James A. Anderson

Announcement
ACCOUNTING AND FINANCE

Vol. 29 No. 1 May 1989
THE IMPACT OF UNEXPECTED EARNINGS AND DIVIDENDS ON ABNORMAL RETURNS TO EQUITY
S.A. Eastern and NA. Sinclair 1
METHODOLOGICAL WEAKNESSES OF AUSTRALIAN SMALL BUSINESS RESEARCH
Scott Holmes and Gary J. Kelly 21
MEASURING THE MEANING OF FINANCIAL STATEMENT TERMINOLOGY: A PSYCHOLINGUISTICS APPROACH
Arthur H. Adelberg and Gail E. Farrelly 33
MEAN GINI CAPITAL ASSET PRICING MODEL: SOME EXPIRICAL EVIDENCE
John Okunev 63
THE EFFECTS OF FORMAT ON THE EXTRACTION OF INFORMATION FROM ACCOUNTING STATEMENTS
Errol R. Iselin 73
EDUCATION NOTES , 95
CV OR NOT CV? THAT IS THE QUESTION
Cleveland S. Patterson 97
BOOK REVIEWS 107
Copyright

The object of Accounting and Finance is to promote the wide dissemination of the results of research and other scholarly inquiries. Permission is hereby granted to reproduce any of the contents of Accounting and Finance for use in courses of instruction, so long as the source and the Accounting Association of Australia and New Zealand copyright are indicated in any such reproductions. Written applications must be made to the Editor for permission to reproduce any of the contents of the Journal for use in other than courses of instruction — e.g., inclusion in books of readings or in other publications intended for general distribution. In consideration for the grant of permission by the Journal in such instances, the applicant must notify the author(s) in writing of the intended use to be made of each reproduction. Except where otherwise noted in articles, the copyright interest has been transferred to the Accounting Association of Australia and New Zealand. Where the author(s) has (have) not transferred the copyright to the Association, applicants must seek permission to reproduce (for all purposes) directly from the author(s). These conditions apply to all articles published in Accounting and Finance and its predecessor journal Accounting Education from Volume 1.

Announcement

the
ACCOUNTING REVIEW
Quarterly Journal
of the American Accounting Association

Managing Editor and Editor
WILLIAM R. KINNEY, JR.
University of Texas at Austin
Editors
ROBERT LIBBY
University of Michigan
ROBERT P. MAGEE
Northwestern University
GERALD L. SALAMON
Indiana University
ConsultingEditors JOEL S. DEMSKI
Yale University
ROBERT W. HOLTHAUSEN
University of Chicago

VOL. LXIV

JANUARY 1989

No. 1

MAIN ARTICLES
Evidence of Informational Asymmetries from Management
Earnings Forecasts and Stock Returns
MAUREEN MCNICHOLS 1
A Test of the Incremental Explanatory Power of Opinions
Qualified for Consistency and Uncertainty
WILLIAM HOPWOOD, JAMES MCKEOWN, and JANE MUTCHLER 28
Firm-Size and the Predictive Ability of Quarterly Earning
Data ALLEN W. BATHKE, JR., KENNETH S. LOREK, and
G. LEE WILLINGER 49
The Choice Among Accounting Alternatives and Management
Compensation: Effects of Corporate Tax J. RONENand
A. AHARONI 60
A Model of Control and Audit Procedure Change in Evolving
Data Processing Systems YAIR WAND and RON WEBER 87
The Information in Discretionary Outlays: Advertising,
Research, and Development BRUCE BUBLITZ and
MICHAEL ETTREDGE 108
NOTES
On the Association of Cash Flow Variables with Market Risk:
Further Evidence BADR E. ISMAIL and MOON K. KIM 125
Rational Economic Behavior and Lobbying on
Accounting Issues: Evidence from the Oil and Gas
Industry EDWARD B. DEAKTN 137

Announcement
CONTEMPORARY Vol 5/No 1/Fall/automne 1988
ACCOUNTING
RESEARCH / RECHERCHE
COMPTABLE
CONTEMPORAINE
CONTENTS
Articles
Auditors’ Usage of Unaudited Book Values When Making Presampling Audit
Value Estimates M.D. SHIELDS, I. SOLOMON and W.S. WALLER 1
The Pricing of Audit Services: The Canadian Perspective .. D.Y. CHUNG and W. D. LINDSAY 19
Empirical Comparison of Subjective Probability Elicitation Methods W.F. WRIGHT 47
Comparison empirique des méthodes d’inféference de probabilités
subjectives W.F. WRIGHT 58
Improving Performance Through Cost Allocation S.I. COHEN and M.LOEB 70
Unobservable Outcomes and Multiattribute Preferences in the Evaluation of Managerial
Performance R.D. BANKER, S.M. DATAR and A. MAINDIRATTA 96
Discussion of “Unobservable Outcomes and Multi attribute Preferences in the Evaluation
of Managerial Performance” GA. FELTHAM 125
Firm-Specific Information and Efficient Resource Allocation
G.A. FELTHAM and P.O CHRISTENSEN 133
Discussion of “Firm-Specific Information and Efficient Resource Allocation” … R. ANTLE 170
Joint Production Decisions: The Variable Proportions Case … L. R. AMEY and J-L. GOFFIN 174
Variance Analysis: A Unifying Cost Function Approach M. N. DARROUGH 199
Exercising Budgetary Control in Automated Production Environments Y.M. MENSAH 222
Discussion of “Dxercising Budgetary Control in Automated Production
Environments” , R.E.JENSEN 250
Analysis of the Organizational Related to Tight Budget Goals R. SIMONS 267
The Sensitivity of Financial Distress Prediction Models to Departures from Normality . ..
W. HOPWOOD, J. MCKEOWN and J. MUTCHLER 284
Trading Volume Reactions to a Change in Dividend Policy: The Canadian Evidence
G. RICHARDSON, S.E. SEFCIK and R. THOMPSON 299
Incremental Infromation Content of Earnings and Nonearnings Based Financial
Ratios W.S. HOPWOOD and T.F. SCHAEFES 318
Capital Values in Use vs. Replacement Costs: Theory and Canadian Evidence
D.B. THORNTON 343
Inventory Accounting and Earnings/Price Ratios: A Puzzle C.J. LEE 371
Discussion of “Inventory Accounting and Earnings/Price Ratios: A Puzzle” … G.C. BIDDLE 389
Book Reviews/Compte rendu de livres
Editor/Rédacteur: Daniel B. Thornton
A.A. Atkinson, Infra-firm Cost and Resource Allocations: Theory and Practice .. I.M. GORDON 397
L.J. Brooks Jr., Canadian Corporate Social Performance S. GLASS 400
Canadian Institute of Chartered Accountants, Accounting and Financial Reporting by
Agricultural Producers: A Research Study J.H. CLARK and W.M. BRAITHWAITE 405
S.J. Gaston, Controlling and Auditing Small Computer Systems K.W.CLOWES 408
S.H. Wescott and R.E. Seiler, Women in the Accounting Profession CA. MCKEEN 412
G.A. Welsch, D.G. Short and G.R. Chesley, Fundamentals of Financial Accounting (First
Canadian Edition) B.E.LYNN 415
Manuscripts Accepted for Future Publication 421
Book Reviews Scheduled for Future Publication 422

Announcements 151
CONSULTING REFEREES

The individuals listed below served as consulting referees to The Accounting Historians Journal providing manuscript review and consultation through February 28, 1989.
Robert Bricker, The Ohio State University
Ray J. Chambers, University of Sydney (Emeritus)
Harry Davis, Brooklyn, N.Y.
Oscar S. Gellein, Financial Accounting Standards Board
(Emeritus)
Louis Goldberg, University of Melbourne (Emeritus) Tanya Flesher, The University of Mississippi Anna Fowler, The University of Texas at Austin Edward M. Klasny, Ernst & Whinney (Retired) Harvey Mann, Brock University Paul Miranti, Rutgers University Kenneth Most, Miami International University Belverd Needles, DePaul University Williard Stone, University of Florida (Emeritus) Richard Vangermeersch, University of Rhode Island

Announcements 151
CONSULTING REFEREES

Accounting Information

Announcements