Announcement
ACCOUNTING AND BUSINESS RESEARCH
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

Number 78

Spring 1990

CONTENTS

Dealing with Fuzziness in Cost-Volume-Profit Analysis
A Model of Information System Choice The Meaning of Audit Reports
Post-Tax Capital Investment Appraisal: Plant and Machinery
The Role of Profitability in Divisional Decision Making and Performance Evaluation
The Diagnosis and Resolution of Emerging Issues in Corporate Disclosure Practices
Managing It All By Numbers: A Review of Johnson and Kaplan’s “Relevance Lost”
Ideal Solutions, PTTT, Abjuration and Logic Book Reviews

Y. Lilian Chan Yufei Yuan
Ian Dobbs Kevin Keasey Graham Holt Peter Moizer
Richard Mole
R. C. Skinner
R.S.O. Wallace T. E. Cooke
Mahmood Ezzamel Keith Hoskin Richard Macve
F. L. Clarke

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Announcement
ACCOUNTING AND FINANCE
Vol. 30 No. 1 May 1990
EXPLAINING INTRAPERIOD ACCOUNTING CHOICES: THE REPORTING OF CURRENCY TRANSLATION GAINS AND LOSSES
Stephen L. Taylor, Richard B. Tress and Lester W. Johnson 1
SOME EVIDENCE ON THE TERM STRUCTURE OF INTEREST RATES: HOW TO FIND A BLACK CAT WHEN IT’S NOT THERE
Ian Young and David Fowler 21
PARTIAL TAKEOVERS AS PUT OPTIONS
Neville Hathaway 27
THE EFFECT OF THE DISTRIBUTION OF CASES ON JUDGMENTAL CONSENSUS
Ken T. Trotman 39
MARKET TIMING ABILITY OF POOLED SUPERANNUATION FUND JANUARY 1981 TO DECEMBER 1987
N. A. Sinclair 51
EDUCATION NOTES 66
A NOTE ON THE ACADEMIC PERFORMANCE OF DEEP-ELABORATIVE VERSUS SHALLOW-REITERATIVE INFORMATION PROCESSING STUDENTS
Kim Tan and Freddie Choo 67
THE PLACE OF COMMUNICATION SKILLS IN THE TRAINING OF ACCOUNTANTS IN NEW ZEALAND
Margaret C. McLaren 82
BOOK REVIEWS 95
Copyright
ACCOUNTING AND FINANCE is published twice yearly in May and November by the Accounting Association of Australia and New Zealand. The membership fee is $28 per year and members receive the journal and any published supplement. Non members, i.e., libraries etc., can take out a subscription for the journal for $40 per year. Editorial correspondence should be addressed to Professor F.J. Finn, Editor, Department of Commerce, University of Queensland, St. Lucia, Queensland, 4067, Australia. Applications for members should be addressed to The A.A.A.N.Z., c/- Department of Commerce, University of Queensland, St. Lucia, Queensland, 4067.
ISSN: 0810-5391

Announcement
THE ACCOUNTING REVIEW
A Quarterly Journal of the American Accounting Association
Editor A. Rashad Abdel-khalik
Associate Editors
Robert H. Ashton John S. Hughes
Andrew D. Bailey, Jr. Richard A. Lambert
Bala V. Balachandran James C. McKeown
Victor L. Bernard James A. Ohlson
Ronald W. Hilton Ira Solomon
VOL. 65 APRIL 1990 No. 2
MARK PENNO
Accounting Systems, Participation in Budgeting, and Performance
Evaluation 303
ROBERT P. MAGEE and MEI-CHIUN TSENG
Audit Pricing and Independence 315
JEFFREY W. SCHATZBERG
A Laboratory Market Investigation of Low Balling in Audit Pricing. 337
JOEL S. DEMSKI and DAVID E. M. SAPPINGTON
Fully Revealing Income Measurement. 363
DIMITRIOS C. GHICAS
Determinants of Actuarial Cost Method Changes for Pension
Accounting and Funding 384
JANET A. MEADE
The Impact of Different Capital Gains Tax Regimes on the Lock-In
Effect and New Risky Investment Decisions 406
IN-MU HAW, VICTOR S. PASTENA, and STEVEN B. LILIEN
Market Manifestation of Nonpublic Information Prior to Mergers:
The Effect of Ownership Structure 432
NOTES
RICHARD M. TUBBS, WILLIAM F. MESSIER, JR., and W. ROBERT KNECHEL
Recency Effects in the Auditor’s Belief-Revision Process 452
WILLIAM KROSS, BYUNG RO, and DOUGLAS SCHROEDER
Earnings Expectations: The Analysts’ Information Advantage 461
DAVID A. ZIEBART
The Association Between Consensus of Beliefs and Trading Activity
Surrounding Earnings Announcements 477

Announcement

CONTEMPORARY Vol 6/No 1/Fall/automne 1989
ACCOUNTING
RESEARCH/RECHERCHE
COMPTABLE
CONTEMPORAINE
CONTENTS Articles
“Strategic Choice of Inventory Accounting Models” W.-O. JUNG 1
“Some Characteristics of the Canadian Audit Industry”
R.G. ZIND and D. ZÉGHAL 26
“Caractéristiques du secteur de la vérification au Canada”
R.G. ZIND et D. ZÉGHAL 48
“On the Demand for Historical Events Recording and Maintenance of Audit
Trail AH. AMERSHI and P. CHENG 72
“Specialized Knowledge and Its Communication in Auditing”
P. DANOS, J. W. EICHENSEHER and D.L. HOLT 91
“Discussion of Specialized Knowledge and Its Communication in Auditing”
D.A. LESLIE 110
“Discussion of Specialized Knowledge and Its Communication in Auditing”
..D.A. SIMUNIC 119
“The Acquisition Value of Oil and Gas Firms: The Role of Historical Costs,
Reserve Recognition Accounting, and Analysts’ Appraisals”
D. GHICAS and V. PASTENA 125
“A Classification of Mergers and Acquisitions by Motives:
Analysis of Market Responses” R. AMIT, J. LIVNAT and P. ZAROWIN 143
“On the Observability of Ownership Retention by Entrepreneurs With
Private Information in the Market for New Issues”
R. CONROY and J.S. HUGHES 159
“Earnings News and the Firm Size Effect” B.T. Ro 177
“An Empirical Study of Regression Analysis as an Analytical Procedure”
A.C. WILSON and D. HUDSON 196
“Auditing Quality, Signaling, and Underwriting Contracts” J. BACHAR 216
“Trading Volume Theories and Their Implications for Empirical Information
Content Studies” H.J. JANG and B.T. RO 242
“Discussion of Trading Volume Theories and Their Implications for
Empirical Information Content Studies” J.A. OHLSON 263
“Discussion of Trading Volume Theories and Their Implications for
Empirical Information Content Studies” R.E. VERRECCHIA 266
Book Reviews/Compte rendu delivres
dacteur: Daniel B. Thornton
W.P. Albo and A.R. Henderson, Mergers and Acquisitions of
Privately Held Businesses W.D. ROTENBERG 269
R. Capettini and D. Clancy (eds.), Accounting, Robotics and
the New Manufacturing Environment. D.L. LOSELL and A.R. REUBER 270
D. Simunic and M. Stein, Product Differentiation in Auditing:
Auditor Choice in the Market for Unseasoned New Issues W. SMIELIAUSKAS 280
Manuscripts Accepted for Future Publication 285

Announcement
ISSN 0951-3574

A ccounting Volume 3
/\ uditing & Number 1
^/J_ ccountability 1990
Journal
CONTENTS
Editors
James E. Guthrie and Lee D. Parker
Abstracts and Keywords 2
Editorial 4
Ad Hoc Manuscript Referees 1989 6
Accounting and Organisation Change
Anthony G. Hopwood. 7
External Management Auditing of Companies: A Survey of Bankers
John Innes 18
Comparison of Social Responsibility Information Disclosure Media Used by Canadian Firms
Daniel Zeghal and Sadrudin A. Ahmed. 38
Agency, Auditing and the Unregulated Environment: Some Further Historical Evidence
Patti A. Mills 54
Book Reviews 67
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