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Restructuring events, such as downsizing, can either halt a downward spiral in corporate performance or perpetuate that downward spiral (Lindsley, Brass and Thomas 1995). This dual nature of downsizing is reflected in the mixed results found by prior researchers.We recognize the dual nature of downsizing by categorizing events according to the firm’s financial condition preceding the announcement of the downsizing. We find a significant negative stock price reaction for firms that are financially healthy in the period preceding the announcement of the downsizing, but a statistically smaller reaction for firms that are in financial distress. The results suggest that the stock market views downsizing events consistent with the theory proposed by Lindsley, Brass and Thomas (1995).

It is widely accepted that allowing affected parties to participate in the resource allocation process is one way to create an atmosphere of outcome equity and process fairness, thereby maximizing desired attitudes (such as satisfaction) and behavioral intentions (such as commitment to perform). However, in certain business settings, participative decision-making may not be feasible and/or resources may be limited such that not everyone gets what they believe they deserve or need. For this reason, it is important to identify factors that can mitigate negative attitudes and behavioral intentions associated with perceptions of inequitable allocations or non-participative processes.

The current research provides evidence that if an employee assesses the net perceived benefit (NPB) of a decision outcome as positive they will, even in cases of a non-participative process or when the allocation of resources is not seen as fair, be satisfied with the outcome and express commitment to performing the required task. Further, this study found support for the suggestion that the presence of superior monitoring can favorably affect an employee's commitment to perform, particularly in cases when satisfaction is negatively impacted by non-participation and low NPB. This study demonstrates that personal attitudes, behavioral intentions, and organizational objectives can be more closely aligned through the appropriate use of monitoring and by making understandable how an allocation decision will provide benefits to affect individuals.

The study investigates the current changes and future challenges in management practice as a result of the Covid-19 pandemic. According to creative destruction theory, industry disruptions (e.g., advancements in technology) combined with economic shocks (e.g., effects of the pandemic) often force impacted industries to undergo significant changes in order to survive. Therefore, it is important to investigate the changes on current and future management practice in the post-Covid world.

This exploratory study uses semi-structured interviews with 20 experienced public accounting leaders (PAL) whose titles include partner, director, CFO, senior manager, and manager.

This study provides PAL perspectives on the challenges of managing in an increasingly hybrid environment, the shift of the organizational structure of firms, the changes in responsibilities/skill sets needed at all levels of the firm, and the expectation that these challenges will continue to evolve.

This study contributes to the literature by showcasing how management practice (through the lens of accounting leaders) has significantly changed. The accounting profession was deemed an essential industry and continued in operation throughout the COVID pandemic. This study identifies six issues that will continue to influence management practice and provides topics for future research.

To complete this case, students will need to access financial statements from the Securities and Exchange Commission’s webpage. The links are provided. Students will also need to review the conceptual framework that is typically covered in Intermediate 1 to respond to question 5.

This case is based on the three financial statement restatements that Weatherford International Ltd. made over an approximately 18-month period. The restatements were due to a fraud committed by manipulating the income tax accrual in the financial statements. The manipulation used was to overstate the amount of income used to calculate the dividend exclusion and then use a relatively high tax rate to calculate the resulting tax benefit. The tax rate used for the fraud was substantially more than Weatherford’s effective tax rate (ETR), which was a prominent part of the company’s strategic growth plan. The tax senior with the external auditors who reviewed the entry made for the dividend exclusion captured the inconsistency with the comment that “This [the entry] deserves a huh?” The case is intended for students in Intermediate 2, where financial statement restatements and their effect on the company’s financial statements are typically covered. During the years covered in this case, Weatherford was also under investigation for violations of the Foreign Corrupt Practices Act (FCPA). Weatherford’s FCPA violations included multiple instances of bribery, the inappropriate use of volume discounts, improper payments and kickbacks in the United Nation’s Oil for Food program. Weatherford received the eighth-largest fine in the history of FCPA violations (at that time) of $152m. Weatherford’s FCPA investigation expanded, and the company paid another $100m in fines for violations of sanctions law and export control law. This case focuses only on the fraudulent manipulation of the financial statements through the tax accrual and does not delve into the other investigations. However, the linkage between those investigations and the fraud in this case is Weatherford’s nonexistent internal controls.

This case was designed to be used in Intermediate 2 financial accounting classes to highlight financial statement restatements and review the conceptual framework and materiality. The students who used the case did not have difficulty with the tax aspect of the case. However, most of the students had taken one tax class previously or concurrently. If students have not had any exposure to tax, the instructor might want to walk students through the tax aspects of the case.

This case is based on Weatherford International’s settlement with the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). Both the SEC and the DOJ were critical of Weatherford for its violations of the Foreign Corrupt Practices Act and for its “inadequate internal controls.” This case explores the Foreign Corrupt Practices Act (FCPA) violations and issues related to internal controls.

Case study.

This case is based on Weatherford International’s settlement with the SEC and the Department of Justice. Weatherford provided equipment and services in the oil and gas industry. Because international markets were growing faster than domestic markets, Weatherford made a strategic decision to pursue growth in international markets. The oil and gas industry has high levels of operating risk as did the countries that Weatherford decided to pursue operations in. However, despite the decision to take on additional risk, Weatherford failed to implement adequate systems of internal controls. The title of the case “A Perfect Storm” refers to Weatherford’s trifecta of operating in an industry with high levels of corruption risk, countries with high levels of corruption risk and failing to implement adequate internal controls despite those high operating risks (Department of Justice, 2013). Weatherford was ultimately assessed a $152m penalty for its violations of the FCPA that included bribery, volume discounts, improper payments and kickbacks.

Undergraduate and graduate auditing classes.

At the nexus of mindfulness and parenting lies the fusion of two influential yet contradictory epistemologies, the Eastern contemplative practices with the Western parenting research. Mindful parenting is a parenting style, which has grown in popularity in recent times to support parents during pregnancy, birth and beyond. The current study is the third stage of a mixed methods study on mindful parenting. The first stage of the study design conducted a systematic review of mindful parenting. The second stage summarized the change processes identified in the systematic review. The aim of this pilot study is to clarify four clinicians’ perceptions of cognitive change processes associated with mindful parenting, particularly how theory is translated to practice. Interpretative Phenomenological Analysis (IPA) was used to analyze semi-structured interviews. The six higher-order change processes were conceptualized as an anchor. Cognitive processes included intention, attention, attitude, and reflective functioning. Given its methodological limitations, the next future work needs is to survey a large sample of both clinicians and parents to verify the model. This paper makes an important contribution to the development of a more comprehensive theoretical model of mindful parenting.