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Review of Business

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Capital markets, social distance, and solidarity.
Abstract This paper argues that recent changes in global financial structure have created conditions detrimental to the common good. Specifically, many countries have moved from bank-based to . . .

Reflections on promoting social justice: an interview with Art Simon, founder and president emeritus of bread for the world.(Int
Bread for the World is a nationwide Christian's citizen movement that seeks justice for the world's hungry people by lobbying our nation's decision makers. Bread for the World is 57,000 members . . .

Tax reform in a global economy: shifting the tax burden.
Abstract Tax reform is President Bush's priority as his second term progresses. This undertaking is ideologically problematic, economically complex and politically risky. It does, however, offer . . .

Convergence of accounting standards: a comparative analysis of the U.S. revised standard on share-based payment and the Internat
Abstract The FASB's recently revised standard, SFAS 123(R), Share-Based Payment, converges closely with the IASB's identically titled standard, IFRS 2. Both standard-setting Boards continue to . . .

Special issue: global regulatory and financial reporting reform and the convergence of accounting and auditing standards: the ti
Investors and creditors throughout the world base their decisions on the information published in various financial and economic reports issued by business entities. The most important of these are . . .

Solidarist economics: the legacy of Heinrich Pesch.
Abstract Heinrich Pesch, a German economist and Jesuit priest, can be considered the father of Catholic Economics. This paper presents the essential elements of his solidarist economics, as a . . .

CST 101: basic principles of Catholic Social Thought.
Abstract Catholic Social Thought is comprised of a body of principles that present a vision of a just society and that, at least in general terms, offer an approach to achieving that just . . .

New regulations curtail abuse of foreign tax credit by partnerships.
Abstract The IRS recently issued temporary regulations that target foreign tax credit abuse by partnerships. The new regulations, which require that foreign taxes be allocated in accordance with . . .

Goodwill impairment: convergence not yet achieved.
Abstract The International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) have agreed to work separately and jointly toward convergence of accounting . . .

The impact of international financial reporting standards: an interview with D. J. Gannon, leader of the IFRS Centre of Excellen
Deloitte, one of the nation's leading professional services firms, provides audit, tax, consulting and financial advisory services through nearly 30,000 people in more than 80 U.S. cities. Known as . . .

Managing As If Faith Mattered: Christian Social Principles in the Modern Organization.(Book review)
Managing As If Faith Mattered: Christian Social Principles in the Modern Organization Helen Alford, O.P., and Michael Naughton (Notre Dame: University of Notre Dame Press, 2001, 336 pages). . . .

The family as cornerstone of the good life and the good society: family life in the Compendium of the Social Doctrine of the Chu
Abstract The Compendium teaches that the health of society depends largely upon the health of family life. In families, the moral character of the next generation is formed, and we all learn . . .

Tax guidance issued on life insurance and annuity payments to nonresident aliens and residents of Puerto Rico.
Abstract Revenue Ruling 2004-75 provides that income received by nonresident alien individuals under life insurance or annuity contracts issued by a foreign branch of a U.S. life insurance . . .

The concept of control in consolidated financial statements: convergence of U.S. and international accounting rules.
Abstract Recent progress has been made toward the convergence of a global set of accounting standards. However, more work needs to be done. A significant step in that continued direction will be . . .

Global corporate accounting frauds and action for reforms.
Abstract The recent wave of corporate fraudulent financial reporting has prompted global actions for reforms in corporate governance and financial reporting, by governments and accounting and . . .

Management, labor, and the development of the human person: insights from the Compendium of the Social Doctrine of the Church.
Abstract Catholic Social Teaching offers a distinctive view of the human person, one which is often in conflict with the perspective of the American economic system. This article will demonstrate . . .

Doing well/doing good.(from the editor)
One of the perennial philosophical questions is: What is the relationship between the good of the individual and the good of society? The ancient Greeks, agreeing with Dr. Spock, argued that . . .

Accounting for research and development costs: a comparison of U.S. and international standards.(United States)
Abstract Accounting for research and development (R & D) activities is an area of divergence between U.S. Generally Accepted Accounting Standards (U.S. GAAP) and International Financial Reporting . . .

Response to corporate fraud in the United States and Europe: towards a consistent approach to regulation.
Abstract The recent spate of accounting scandals in the United States and in the European Union have shaken the faith in capital markets. Comprehensive measures have been undertaken on both sides . . .

Leading environmental change: the case of the global mining industry.
Abstract This article reviews the efforts of the global mining industry to establish a framework for sustainable development (SD). The framework, established in a project conducted by the . . .

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