Standards Deviations: U.S. Financial Accounting Heads for Change The U.S. Securities and Exchange Commission is moving to replace existing rules-based accounting standards with principles-based, international ones in filing requirements. IFRS are the international equivalent to Generally Accepted Accounting Principles (GAAP), which are the standards and rules auditors follow when preparing financial statements in the United States. Since 2005, companies in the European Union have been adhering to IFRS, a circumstance that some feel puts U.S. markets at a disadvantage globally, says Philip Reckers, professor of accountancy at the W. P. Carey School of Business. Among changes to come: Auditors will require dramatic retraining; accounting firms face different legal liability issues; and investors will likely see more footnote disclosures in corporate financial statements.
Knowledge@W.P. Carey Aug 27 - Sep 10
Analysis: Kevin J. Dooley Asks Are Political Blogs Predictive? 2008 will be remembered for the classic battles between Obama and Clinton and McCain and Obama, but political wonks will also note the historical nature of this presidential campaign because of the profound impact that the Internet and social media have had on the dynamics of the race. Here, Professor Kevin J. Dooley, an expert in web communication, writes about the way blogs fit in the panoply of news and information media and the impact they have on politics.
A Tale of a Whale: Why High Oil Prices May Not Be So Bad After All The sunbathers on the windswept beaches of Nantucket this holiday weekend will have paid a premium price to boat or fly to the quaint and elite resort island 30 miles south of Cape Cod. The cost of oil has pushed marine and aviation fuels to dizzying levels, hiking the tab for what is already a pricey vacation. Whaling wrote the early history of Nantucket, but the rise and decline of the industry also sheds light on the present -- the reasons why Nantucket's vacationers had to pay so much for marine and aviation fuels. Economist Gerry Keim explains that the fundamentals of economics -- the impact of market forces on innovation and industries -- are at work today as they were 150 years ago. Long term, high oil prices may turn out to be not so bad after all.
No Anniversary Party for Controversial Cross-Border Trucking Program Congress and President Bush appear to be on a collision course over U.S.-Mexico trucking, but most likely trucks will continue to traverse the border, fostering the flow of international commerce, according to Arnold Maltz, a professor of supply chain management at the W. P. Carey School of Business. At issue is a small but controversial one-year pilot project that has allowed Mexican trucks to travel throughout the United States, although most of such travel has been in the border states. The pilot project ends September 6, and strong opposition to its continuation has been expressed in Congress by Democrats concerned about American jobs and highway safety, and by Republicans concerned about security and immigration issues.
Podcast: The Nickel and Dime Approach -- Are Those New Airline Fees a Smart Strategy? As higher fuel costs gobble up airline profits, the carriers are imposing new fees on passengers in an attempt to make up the difference. William A. Verdini, chairman of the supply chain management department of the W.P. Carey School of Business, wonders if this is a smart strategy.
Rule-Breaking Entrepreneurs Share Stories of Success In 1949 when Shirley Schmitz graduated from Arizona State University women leaders were an anomaly in business. Now 80, she is charismatic and sharp, and could easily fill a book with insights earned during her own high-octane career. But instead of dwelling only on how she made it, Schmitz convinced 11 other entrepreneurs -- all brash rule-breakers from a range of industries -- to spill the beans, too. Her book, "Guts, Imagination, Vision; Conversations with Innovators-Changemakers," will be launched at the Spirit of Enterprise Award luncheon on September 25.
'Sway' Answers the Age-Old Question: 'What Was I Thinking?' Brothers Ori Brafman and Rom Brafman followed different paths in life, but they decided to collaborate on a book when they realized that Ori, with his MBA, and Rom, with a Ph.D. in psychology, kept running into the same dynamic puzzle through their work: What makes smart people make irrational decisions? In "Sway: The Irresistible Pull of Irrational Behavior," the brothers Brafman attempt to explore several of the psychological forces that derail rational thinking. Some of the questions they address include: How do these forces creep up on us? When are we most vulnerable to them? How do they affect our careers, businesses, personal relationships? When do they put our finances, or even our lives, at risk? And why don't we realize when we're getting swayed?
Knowledge@Wharton
Whether You Agree with Globality or Disagree, Don't Ignore It
Is a Medical Intern's 'Initiation' Harmful to Your Health?
'The Objective of Education Is Learning, Not Teaching'
Of Cell Phones, Maps and Mental Models: Why Doing What Was Right Is Sometimes Completely Wrong
'Inventing the Movies': The Epic Battle between Innovation and the Status Quo in Hollywood
Unbound Prosperity: Unlocking 'Unreal Estate' through Institutional Reform
The Power of Momentum: Companies That Build Their Wave and Ride It
Knowledge@Emory
Why Changes Made During Rough Times Can Make Companies Thrive
Will the Spotlight of the Olympics Spur Change in China?
In the Balance Sheets: Reassessing the Auditors' Reporting Model
Former SEC Chair William Donaldson on Entrepreneurial Leadership and Integrity
Cultivate Relationships to Make Your Network "Click"
Africa's Mining Industry Digs Deeper to Meet Demands of Commodities 'Super Cycle'
To Love, Honor, Cherish and Consume: The Selling of the American Wedding
