Protecting trade secrets
Article Abstract:
Managerial accountants and controllers can play a major role in protecting their firms from the loss of trade secrets. The Uniform Trade Secrets Act (UTSA) defines trade secrets as information that derives independent economic value from not being generally known, and that is kept secret through reasonable actions. Due to their role as major players in the processing of information and protecting corporate assets through internal controls, managerial accountants should be aware of the provisions of the UTSA. Managerial accountants should decide which information is to be protected, and decide if the information has independent economic value and thus needs protection of the UTSA. If the information is deemed to need protection of the UTSA, access should be restricted, adequate security should be provided, and those with access to the information should acknowledge its secretive nature and value.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1990
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Profit is the name of the game: major league baseball teams have 26 different charts of accounts
Article Abstract:
Major league sports franchises are capital-intensive, high-fixed cost businesses. The major revenue sources of major league teams consist of broadcast rights and admissions. Ticket sales contribute 30% to 40% of revenues for both baseball and football franchises. The major expense for teams is their payroll. In major league baseball, the 26 teams maintain 26 different accounting systems as there is no standard chart of accounts. There is no theoretical accounting except for the amortization of deferred salaries. Audits last form between two to three weeks and place special emphasis on such intangibles as the depreciation of player costs, the control of gate revenues, and deferred compensation. The major audit areas are budget and cash controls since the sports industry is characterized by large volume of cash transactions for high amounts.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1991
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