Write-offs as accounting procedures to manage perceptions

Article Abstract:

Research examines the use of write-offs as an accounting technique to control external perceptions of company performance. Data is based on research of 240 companies during the 1982-85 period who reported write-offs equal to at least one percent of assets. Results indicate that the subject firms had: declining growth rates during the study period; declining earnings-to-market and earnings-to-assets values for three years before the study period; and lower than average market returns during the sample period. The results also show that these companies had below average share returns, and above average dividend reductions and bond-rating decreases. A discussion by Gregory Waymire is included.

Stocks, Profit, Profits, Accounting, Accrual basis accounting

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Valuation of the components of purchased goodwill

Article Abstract:

Issues concerning the role of goodwill in valuation are examined, focusing on the positive and negative aspects of goodwill. Topics include the positive aspects of the going-concern component and the synergy component, and the negative aspect of the residual component of goodwill.

Financial Management, Valuation, Goodwill (Business)

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Tax and regulatory motivations for issuing non-voting, non-convertible preferred stock

Article Abstract:

Unique securities such as preferred, non-convertible, non-voting stock may be issued due to regulations such as the Basel Banking Accord, tax situations such as foreign tax credits, and individual firm finances making other types of finance unavailable.

Statistical Data Included, Usage, Foreign tax credit, Convertible securities, Preferred stocks

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