Student Writing Competition
2007 Contest Details
Assessing the Impact of Frequent Financial Information Restatements: Does
Frequency Lead to Expectation?
Pick up a newspaper, business journal, or accounting publication,
and there is a good chance of finding some reference to the restatement
of financial accounting information by a business, not-for-profit, or
governmental entity. One begins to wonder if, in fact, there is an increase
in the number of these events, and whether these accounting misstatements,
and subsequent corrections, have become so frequent that they are now
considered an accepted part of today's business world. Are accounting
misstatements really so common, or are these events merely deemed "news"
since the information age has increased the number of financial information
consumers?
Assessing the results of frequent misstatements on the financial environment is often more difficult to determine and less widely reported. The event itself receives press attention, but less time is devoted to identifying who wins and who loses when accounting misstatements take place. Are there winners and losers with such events or do the financial markets simply shrug off these reports?
The PICPA will award $4,000 to ambitious, business-savvy students with the conviction to present their case through the 2007 Student Writing Competition.
Possible Subtopics:
- Are accounting misstatements more common today than in the year 2000?
- Has the frequent reporting of accounting misstatements resulted in a decrease in the "shock effect" for the consumers of financial information?
- Has the number of financial information restatements become commonplace, or has only the impact of such restatements increased?
- Has over-reporting by the media contributed to the perception that financial restatements are commonplace?
Eligible Participants:
- PICPA Student Affiliates
- Undergraduate accounting or business majors who attend Pennsylvania colleges and universities or those who maintain a permanent residence in Pennsylvania but attend an out-of-state college
Prizes & Benefits:
- $2,000 for first place, $1,200 for second place, and
$800 for third place
- The accounting programs of the winning students receive $1,000, $600,
and $400 respectively
- First place entry is published on CPAzone.org, and featured in the Pennsylvania CPA Journal
Entry Criteria:
- 1,000-1,500 word research paper
- 50-75 word abstract
- No co-authored papers accepted
- 12-point font required
- Must contain proper citation of sources
- Papers are evaluated for content, method of presentation, and writing style
- Every submission must include an author information sheet. Do not include personal information on your paper.
Submission:
Careers in Accounting Team
Pennsylvania Institute of Certified Public Accountants
1650 Arch St., 17th Floor
Philadelphia, PA 19103-2099
Deadline: April 13, 2007
Questions: Call the PICPA Careers in Accounting Team at (888) 272-2001 or e-mail schools@picpa.org.