J. Lowell Mooney

The CPA Exam as a Postcurriculum Accreditation Assessment.

Business schools often attain accreditation to demonstrate program efficacy. J. A. Marts, J. D. Baker, and J. M. Garris (1988) hypothesized that candidates from Association to Advance Collegiate Schools of Business International (AACSB)-accredited accounting programs perform better on the CPA exam than do candidates from non-AACSB-accredited programs. However, relatively few business schools (only 168 at the time of the present study) had separate accounting accreditation. The authors compared CPA exam performance of candidates from AACSB-accredited business-only programs with that of candidates from nonaccredited programs. The authors also compared candidate performance from programs accredited by 2 alternative business-school-accrediting organizations with nonaccredited programs. Last, the authors explored whether the 1994 CPA exams change in format represents a regime change in pass-rate data.

A Guide to Selecting Cost Management Software

What kinds of cost management software are available? What does each package do? And what pitfalls must you avoid? The authors answer these important questions.

Preventing Financial Software Disaster and Liability: The CFO's Year 2000 Checklist

A widespread software “bug” could play havoc with many accounting and information systems on January 1 of the year 2000. But CFOs cannot just leave this huge problem to computer experts, say the authors. They explain how the problem will affect CFOs, and specific steps you can take to protect your company.

Letters of Credit in the Accounting Curriculum

Understanding letters of credit is of growing importance in the emerging global economy. Commercial letters of credit have been used for centu- ries to facilitate payment in international trade transactions. In recent years, a ple- thora of new applications has been found for this timeless financial instrument. For example, standby letters of credit are be- ing used to guarantee performance and a wide range of financial obligations. This article provides a synopsis of the major is- sues relating to the use of letters of credit and reviews recent changes in the account- ing and reporting requirements for such letters.