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This dissertation reexamines the theoretical and empirical relation between future period returns and current period accruals. Prior studies find a negative relation between current period accruals and future returns. This finding (the accrual anomaly) is often attributed to either (a) investors mispricing accrual persistence or (b) investors mispricing the growth information contained in current accruals. In this study, I show that accruals are a natural manifestation of firm growth and contraction and that the information contained in accruals is not associated with future returns. This finding holds for multiple accrual definitions and decompositions. My study provides an alternative explanation for the accrual anomaly. In addition, I provide economic intuition and empirical evidence suggesting that the accrual anomaly is a function of the value/growth anomaly. In contrast to prior studies which use a two-period model to show the negative association between accruals in period one and returns in period two, I employ a three period log-linear model decomposed from a firm’s book-to-market ratio and show that investors do not misprice the information contained in accruals. My study shows that in the four year period prior to accrual recognition, equity prices tend to be driven disproportionately by intangible returns, or returns not explained by accounting measures. Accordingly, the relation between prior-period intangible returns and future-period returns may subsume the relation between current-period accruals and future returns. Empirical tests support this explanation. / text

Thesis (Ph. D.)--University of Texas at Austin, 2008. / Vita. Includes bibliographical references.

In this paper, we will look at and discuss the differences and similarities between governmental entities and for-profit business. We will mainly discuss the different goals, purposes, users, and issues between government and for-profit accounting in order to show that changes to governmental accounting standards would lead to more transparency and accountability, which in turn would help determine the success of an individual governmental entity. We will conclude by looking at countries that have implemented accrual accounting for government-wide financial statements, and we will explain how the adoption of accrual accounting for government-wide financial statements in the United States will lead to more transparency and accountability.

This paper examines the informational role a Property & Casualty (P&C) insurers’ loss accrual (an estimate of expected losses) provides in a merger. This accrual is the largest liability for an insurer and an accurate evaluation of this liability is important in valuing a merger. Our focus is on one specific aspect of the loss accrual. This is the loss accrual’s transparency (or how easy is it to be modeled) and used in a valuation exercise. We propose a two-stage methodology to examine how transparency affects the valuation of acquirers in mergers. In the first stage, we use an event study to measure the acquirer’s cumulative abnormal stock return following the merger announcement. This is a measure of how the market values the transaction.  In the second stage, we then investigate whether, and to what extent, the merger parties’ loss accrual transparencies are related to the market’s valuation of the acquirer. / Business Administration/Accounting

Development of peak bone mass during childhood to early adulthood has been considered as a major determinate of risk of fracture and osteoporosis later in life. The purpose of this project was to determine the impact of food and nutrient intake on bone from childhood to early adulthood using mixed longitudinal data from the University of Saskatchewan Pediatric Bone Mineral Accrual Study (PBMAS). <p>To determine the role of consumption of milk products and vegetable and fruit on the total body-bone mineral content (TB-BMC) accrual in boys and girls from childhood to late adolescence, seven-year longitudinal data were used. Using a multilevel modeling statistical approach containing major biological and environmental factors, vegetables and fruit intake, calcium intake and physical activity were significant independent environmental predictors of TB-BMC in boys. <p>Change in the pattern of beverage intake of adolescents as a major component of nutrition transition has aroused health concerns such as obesity, tooth decay, and inadequate bone accrual. Beverage consumption and its relationship with calcium intake of grade 9 students from 1991 to 2004 was evaluated. Percent contribution of milk to total beverage intake was significantly decreased in boys and girls. A significant negative association between milk intake and consumption of non-carbonated soft drinks was observed in both genders. In girls only, a significant negative trend in calcium intake was observed over time. <p>Milk products, specifically fluid milk, were the major source of dietary calcium from childhood to early adulthood in both genders. There was a substitution of fluid milk by cheese, a decrease in vegetable and fruit intake, and the low intake of vitamin D in young adults, specifically females. <p>The effect of food and nutrient intake, measured at young adult age and previously in peri-adolescence, on bone mass was investigated. In males, the intake of calcium from peri-adolescence to early adulthood was sustained, whereas in females, there was a significant decrease. Height, weight, protein intake, physical activity and gender were the significant predictors of bone measures only in young adults who had consistent calcium intake from peri-adolescence. Collectively, the results of this study present the bone protective nutrients and food groups from childhood to early adulthood in our cohort. The food choices and dietary habits of the cohort change by age, but not in the favour of bones, with females more at risk. To prevent risk of osteoporosis, there should be promotion of a healthy dietary plan, not a single food group or nutrient, accompanied with an adequate level of physical activity.

Development of peak bone mass during childhood to early adulthood has been considered as a major determinate of risk of fracture and osteoporosis later in life. The purpose of this project was to determine the impact of food and nutrient intake on bone from childhood to early adulthood using mixed longitudinal data from the University of Saskatchewan Pediatric Bone Mineral Accrual Study (PBMAS). <p>To determine the role of consumption of milk products and vegetable and fruit on the total body-bone mineral content (TB-BMC) accrual in boys and girls from childhood to late adolescence, seven-year longitudinal data were used. Using a multilevel modeling statistical approach containing major biological and environmental factors, vegetables and fruit intake, calcium intake and physical activity were significant independent environmental predictors of TB-BMC in boys. <p>Change in the pattern of beverage intake of adolescents as a major component of nutrition transition has aroused health concerns such as obesity, tooth decay, and inadequate bone accrual. Beverage consumption and its relationship with calcium intake of grade 9 students from 1991 to 2004 was evaluated. Percent contribution of milk to total beverage intake was significantly decreased in boys and girls. A significant negative association between milk intake and consumption of non-carbonated soft drinks was observed in both genders. In girls only, a significant negative trend in calcium intake was observed over time. <p>Milk products, specifically fluid milk, were the major source of dietary calcium from childhood to early adulthood in both genders. There was a substitution of fluid milk by cheese, a decrease in vegetable and fruit intake, and the low intake of vitamin D in young adults, specifically females. <p>The effect of food and nutrient intake, measured at young adult age and previously in peri-adolescence, on bone mass was investigated. In males, the intake of calcium from peri-adolescence to early adulthood was sustained, whereas in females, there was a significant decrease. Height, weight, protein intake, physical activity and gender were the significant predictors of bone measures only in young adults who had consistent calcium intake from peri-adolescence. Collectively, the results of this study present the bone protective nutrients and food groups from childhood to early adulthood in our cohort. The food choices and dietary habits of the cohort change by age, but not in the favour of bones, with females more at risk. To prevent risk of osteoporosis, there should be promotion of a healthy dietary plan, not a single food group or nutrient, accompanied with an adequate level of physical activity.

Thesis (PhD) -- AUT University, 2007. / Includes bibliographical references. Also held in print (ix, 102 leaves ; 30 cm.) in City Campus Theses Collection (T 658.1511 KOE)

Thesis (Ph. D.)--University of Washington, 1997. / Vita. Includes bibliographical references (leaves [131]-136).

Thesis (Ph. D.)--University of Hong Kong, 1999. / Includes bibliographical references (leaves 102-105).