Online purchase and delivery of goods and services requires an electronic contracting process. Formalization of contractual content enables automatic delivery of services and monitoring of the terms and conditions of the contract at service runtime. The Simple Obligation and Right Model (SORM) provides an abstract, domain-independent model of contractual content. Model instances can be interpre...

This study determined the value relevance of assets and liabilities after the adoption of IFRS among listed Nigerian firms. Ohlson Model (1995) model of stock price regressions tested the relationship between assets and liabilities with the stock price, which has been widely adopted by accounting researchers. A sample of 126 firms listed in Nigeria stock market is used for the study. Data is co...

Low carbon economy is causing the implementation and development of carbon markets that affect an increasing organizations number. These markets entail new challenges to accounting practitioners. The aim of this paper is, on the one hand, to know how the financial statements are being affected by the obligations of companies to control and compensate their carbon emissions, by analyzing the dif...

Recent articles have reported a large and growing financial crisis associated with retiree health plans offered by state and local governments, and have expressed alarm over their impact on the financial status of these governmental units (Goldman Sachs 2007; David Zion and Amit Varshney 2007). The concern about the unfunded liabilities of retiree health plans follows from a change in the publi...

The Governmental Accounting Standards Board Statement 45 (GASB 45) obliges public employers to disclose liabilities related to postretirement medical benefits. Most state and local government entities are beginning to analyze and quantify how GASB 45 liabilities will affect their balance sheets and credit ratings. This article describes the many ways to reduce those liabilities without eliminat...

We analyze the internal consistency of using the market price of a firm’s equity to trigger a contractual change in the firm’s capital structure, given that the value of the equity itself depends on the firm’s capital structure. Of particular interest is the case of contingent capital for banks, in the form of debt that converts to equity, when conversion is triggered by a decline in the bank’s...

Problems of developing specialized financial services for housing are acute in transition socialist economies (TSE). Some constraints derive from the incomplete and imperfect privatization of the real estate sector. Others reflect the fragmented and undeveloped financial system. This paper examines a financial instrument, contractual savings for housing (CSH), that is often advocated as a major...