The Steep Rise Of Gift Card Purchases By The Consumer Is Changing The Method Of Accounting And Reporting Of Gift Card Income By Corporate Retailers

Carla Feinson

doi:10.19030/jber.v6i4.2405

The Steep Rise Of Gift Card Purchases By The Consumer Is Changing The Method Of Accounting And Reporting Of Gift Card Income By Corporate Retailers

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v6i4.2405 ◽

2011 ◽

Vol 6 (4) ◽

Cited By ~ 5

Author(s):

Carla Feinson

Keyword(s):

State Legislatures ◽

Accounting Standards ◽

Financial Accounting ◽

Annual Reports ◽

Financial Accounting Standards Board ◽

Font Size ◽

Publicly Traded ◽

Accounting Disclosures ◽

Reporting Requirements ◽

Gift Card

The increasing popularity of gift card purchases by consumers and the corresponding increase in gift card sales in the retail industry has triggered changes in accounting disclosures and reporting requirements. The Financial Accounting Standards board, the Security and Exchange Commission and individual state legislatures have all begun to focused their attention on the various issues that are continually coming to the forefront as a result of the continuing rise in gift card transactions. The promulgations of these authoritative bodies have in turn affected the format and wording of the disclosures that are found in the annual reports or SEC filings of publicly held retail companies. An examination of 75 publicly traded retailers not only shows the similarities and differences of how gift card sales have affected disclosures but also how the very nature of gift card contracts and the ramifications of gift card sales has led to so many specific reporting and accounting difficulties.

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New financial statement reporting requirements for healthcare entities and insurers

Journal of Hospital Administration ◽

10.5430/jha.v2n3p21 ◽

2013 ◽

Vol 2 (3) ◽

pp. 21

Author(s):

Alan Reinstein ◽

Natalie Tatiana Churyk

Keyword(s):

Health Care ◽

Accounting Standards ◽

Financial Accounting ◽

Financial Statement ◽

Financial Accounting Standards Board ◽

Reporting Requirements ◽

The Future

Since 2010, the Financial Accounting Standards Board issued several Accounting Standards Updates [ASUs] and other Authoritative Standards that affect Health Care Entities and Insurers, requiring them to more consistently account for and disclose their reporting of charitable and other costs. Also, in light of the main portions of Obama Care becoming effective in 2014, the FASB required such entities to more consistently and broadly disclose how they account for their bad debts, especially since the new law will limit such payments in the future. This article summarizes the provisions of the new Standards and provides examples of their application, in order to help health care entities and insurers understand the new provisions and implications.

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Proposed Lease Accounting For Lessees

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v9i1.941 ◽

2011 ◽

Vol 9 (1) ◽

Cited By ~ 1

Author(s):

Stuart Shough

Keyword(s):

Accounting Standards ◽

Financial Accounting ◽

International Accounting ◽

International Accounting Standards ◽

Financial Accounting Standards Board ◽

Font Size ◽

Accounting Model ◽

Lease Accounting ◽

International Accounting Standards Board

On August 17, 2010, the Financial Accounting Standards Board and the International Accounting Standards Board jointly issued exposure drafts proposing a new accounting model for leases. This paper explains how a lessee would account for leases under this proposal.

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Goodwill Impairment: A New Window For Earnings Management?

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v8i2.669 ◽

2010 ◽

Vol 8 (2) ◽

Cited By ~ 1

Author(s):

Yousef Jahmani ◽

William A. Dowling ◽

Paul D. Torres

Keyword(s):

Earnings Management ◽

Balance Sheet ◽

Accounting Information ◽

Accounting Standards ◽

Financial Accounting ◽

Financial Accounting Standards Board ◽

Font Size ◽

Rates Of Return ◽

Public Companies ◽

Goodwill Impairment

The Financial Accounting Standards Board promulgated standard No. 142 in an attempt to improve the understandability of accounting information.  This new rule eliminated the practice of automatically amortizing goodwill.  No. 142 requires public companies to test goodwill for possible impairment at least annually.  An unintended consequence of this new standard is the opportunity for companies to use it in earnings management.  To test the possibility that the rule is being used for this purpose, a sample of companies was chosen, all of which had amounts of goodwill on their balance sheet during the 2003-2005 interval.  The results reveal that the number of companies experiencing losses or low rates of return on total assets who actually impaired goodwill was statistically insignificant during the period under consideration.  Thus, the results strongly suggest that companies are using No. 142 in an attempt to manage the volatility of earnings.

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The Joint FASB/IASB Lease Project: Discussion And Industry Implications

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v9i9.5633 ◽

2011 ◽

Vol 9 (9) ◽

pp. 29 ◽

Cited By ~ 1

Author(s):

John Kostolansky ◽

Brian Stanko

Keyword(s):

Balance Sheet ◽

Accounting Standards ◽

Financial Accounting ◽

International Accounting Standards ◽

Financial Accounting Standards Board ◽

Font Size ◽

Operating Leases ◽

Accounting Rules ◽

The Impact ◽

Lease Accounting

Over several decades, the Financial Accounting Standards Board and International Accounting Standards Board have enacted numerous changes to the controversial lease accounting rules. As currently prescribed, operating leases are treated as rental arrangements whereby the lessee does not record a liability - a situation generally referred to as off-balance sheet financing. In an attempt to increase transparency and comparability, the FASB and IASB will soon require all leases to be capitalized. This paper quantifies the impact of the new leasing standard on the financial statements and ratios of the firms and industries represented in the S&P 100 under a variety of discount rates.

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A Research Note On The Issue Of Non-Articulation And The Method Used To Calculate Net Operating Cash Flow

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v25i1.1048 ◽

2011 ◽

Vol 25 (1) ◽

Cited By ~ 2

Author(s):

Terry J. Ward ◽

Jon Woodroof ◽

Benjamin P. Foster

Keyword(s):

Cash Flow ◽

Indirect Method ◽

Direct Method ◽

Accounting Standards ◽

Cash Flows ◽

Financial Accounting ◽

Financial Accounting Standards Board ◽

Font Size ◽

Operating Cash Flow ◽

Statement Of Cash Flows

Using a proxy for nonarticulation, prior researchers found evidence that many companies using the indirect method of reporting net cash flow from operations have a significant level of nonarticulation.  The purpose of this study is to determine if companies using the direct method of reporting net cash flow from operations experience significantly lower levels of nonarticulation than companies that use the indirect method of reporting net cash flow from operations.  Results show that companies using the direct method have significantly less nonarticulation than companies using the indirect method.  This finding suggests that the Financial Accounting Standards Board (FASB) should consider requiring companies to use the direct method of preparing the Statement of Cash Flows.

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Changes To Accounting For Defined Benefit Postretirement Plans: Discussion And Illustration

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v23i2.1398 ◽

2011 ◽

Vol 23 (2) ◽

Author(s):

Norman H. Godwin ◽

Arlette C. Wilson

Keyword(s):

Accounting Standards ◽

Financial Statements ◽

Securities And Exchange Commission ◽

Financial Accounting ◽

Pension Benefit ◽

Defined Benefit ◽

Financial Accounting Standards Board ◽

Font Size

Requests that the Financial Accounting Standards Board (FASB) address issues related to employers’ accounting for defined benefit postretirement plans have increased in recent years.  Those requests have been made by users of financial statements and others, including the Securities and Exchange Commission (SEC) staff and representatives of the Pension Benefit Guaranty Corporation.  Constituents are interested in improved transparency and understandability.

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Segment Reporting: The Aftermath Effects Of Statement Of Financial Accounting Standards No. 131

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v18i4.2132 ◽

2011 ◽

Vol 18 (4) ◽

Cited By ~ 1

Author(s):

Brian B. Stanko ◽

John Utterback ◽

Jun Fitzgerald

Keyword(s):

Accounting Standards ◽

Financial Accounting ◽

Financial Accounting Standards Board ◽

After Effects ◽

Segment Reporting ◽

Related Information ◽

Reporting Requirements ◽

Normal Text ◽

Before And After ◽

The Subject

This article addresses the subject of segment reporting and the after effects of SFAS No. 131 “Disclosures about Segments of an Enterprise and Related Information.”  A comparative analysis of the reporting requirements under SFAS No. 14 and SFAS No. 131 is first presented followed with an examination of corporate disclosures before and after the release of SFAS No. 131.  The results are discussed in the context of the Financial Accounting Standards Board’s reporting objective “to better understand an enterprises performance.”

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The Effects Of LIFO (Last In, First Out) Repeal On The Entertainment Industry

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v11i1.7518 ◽

2012 ◽

Vol 11 (1) ◽

pp. 11

Author(s):

Peter Harris

Keyword(s):

Accounting Standards ◽

Financial Accounting ◽

Entertainment Industry ◽

Financial Accounting Standards Board ◽

Complete Elimination ◽

Font Size ◽

Political Pressure ◽

Obama Administration ◽

The Us

The Last in, First Out Method (LIFO) is presently under severe scrutiny from the financial community, which may soon culminate in its repeal as an acceptable accounting method. There are pressures from the SEC in conjunction with the International Financial Accounting Standards Board (IFRS) to standardize accounting practices worldwide. In addition, there is political pressure imposed by the US Obama administration to raise additional revenues. Both groups strongly oppose LIFO, raising a strong possibility that its complete elimination as an accounting method will occur by as early as 2014. This paper addresses the effects of LIFO repeal on the entertainment industry. The result will probably be the elimination of the Lower of Cost or Market Method, which is presently adapted by many non-LIFO firms, and also represents a major tax loophole for those who use it, including the entertainment industry.

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SFAS 141(R): Global Convergence And Massive Changes In M&A Accounting

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v7i4.2282 ◽

2011 ◽

Vol 7 (4) ◽

Cited By ~ 1

Author(s):

Christine Andrews ◽

Jan Falmer ◽

Jeannette Riley ◽

Carrie Todd ◽

Ara Volkan

Keyword(s):

Global Convergence ◽

Accounting Standards ◽

Financial Accounting ◽

Financial Accounting Standards Board ◽

Font Size ◽

Comment Letters

The Financial Accounting Standards Board issued SFAS 141(R) in December 2007 to replace SFAS 141. Analyzing comment letters, industry publications, and articles, we evaluate problems that existed with SFAS 141 from the perspective of users, professionals, and the FASB; evaluate 141(R) to ascertain if these weaknesses were corrected; and propose solutions to some of the problems that still exist.

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The Early Years of the Financial Accounting Foundation and the Financial Accounting Standards Board, 1972 to 1980: The Special Relationshipp with the AICPA

SSRN Electronic Journal ◽

10.2139/ssrn.3170425 ◽

2018 ◽

Author(s):

Stephen A. Zeff

Keyword(s):

Accounting Standards ◽

Early Years ◽

Financial Accounting ◽

Financial Accounting Standards Board

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