The "7 & 11" plan

Article Abstract:

Fil Juadines, the unclaimed property administrator of a Las Vegas utility, describes the successful unclaimed property reporting system that his company has developed. This system has increased the utility's efficiency in reporting and maintaining the records of abandoned property, and has improved its ability to return such property to their claimants as soon as possible. Juadines says that the number one objective of his company's reporting system is to reunite abandoned properties with their claimants. The utility is currently working on a project to improve the reporting system, which is related to its efforts to expedite the reunification process. The project, called '7 & 11,' entails the listing of expired checks on the seventh month of issuance and the sending out of claim letters to payees on the list on the 11th month.

Management, Reports, Interview, Business reports, Unclaimed estates, Juadines, Fil

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Does smoothing earnings add value?

Article Abstract:

A study examined income smoothing practices by corporate organizations. Financial data from over 200 firms over a five-year period were used to ascertain if stock markets consider smoothness in reported income and ignore seemingly manipulated smooth earnings. Findings revealed that smooth income influenced the financial market's assessment of a firm. This bolsters the idea that a smooth income flow is related to a lower-risk premium and consequently a higher present value of the future earnings stream and a higher market valuation. However, companies that were able to attain a smooth income stream through artificial smoothing techniques were not found to have a higher market value than companies with naturally smooth earnings. In addition, the capital variable was demonstrated to be an important factor in smoothing.

Research, Stock-exchange, Stock exchanges, Income accounting, Smoothing (Statistics), Income shifting

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