mohsen khoshtinat

Different information introduced to the market by the listed companies affect share prices in the capital market. Some are used for forecasting and estimation, so its credibility and authenticity is under question. A major problem almost all managers are facing with is that to what degree their earnings forecast is reliable to the capital market, how they are affected by different variables, and how authenticity can be augmented. This article empirically tries to investigate the effect of the factors reviewed by foreign scholars, on Tehran Stock Exchange. The research hypotheses are based on evaluating five factors including   type   of information (positive or negative), deviation in forecasting (managers credibility), forecast timing, size of the companies, and adjustment or non-adjustment of the forecasted information. Considering the volatility of the share price at the time of projected profit declared by the negative information (a lower forecasted earning) severely makes share price sensitive; unlike positive information which does no draw  as much attention of shareholders and brokers as the negative information. Secondly, the size of the listed companies has a wider effect on the investors to accept the projected profit. Thirdly, the materialization of the past forecasts affects acceptance of the future forecasts as well. Fourth, medium-term forecasts values more reaction on share prices rather than the long-term ones. And finally adjustment of the forecasts has no effect on the upcoming forecasts. In short, this study tries to raise the awareness concerning how managers can link their projected future profits to the market.

Professional Judgment is one of the major elements of auditing. Auditors continually use their Professional Judgment both to judge whether the accounting treatment used by the preparers of financial statements are according to Accounting Standards    and   to   Judge   how    to   carry   out   their     audits.
 Recognition of the sense of auditors’ professional Judgment and factors affecting their professional judgments is essential so that the auditors judgment s are applied appropriately and this not to lead to freedom of auditors from any discipline or auditors to carry out unlimited liberty.  Recognition of professional Judgment dimensions in auditing can also clarify which characters desire to make professional judgment and which environment factors influence their professional judgments.
Research findings suggest that knowledge, experience, integrity, independence, moral behavior, professional skepticism and field independence are the most important personal characteristics of auditors, which affect their professional judgment and professional oversight, accountability necessities, existence of audit programs and check lists and clarity of Accounting and Auditing Standards are the most influent audit environment factors affecting auditors’ professional judgments.

In this study the effect of "Financial Leverage (FL) on Earning Response Coefficient (ERC)" for accepted members of Tehran Stock Exchange is considered. The purpose is to find out whether or not the investors, analysts, etc. consider the capital structure and leverages of the firms when reacting to the good and bad news caused by revealing the accounting in formation.
Financial   Leverage   measurement   approaches   are   of   two divisions as follows:I)  Income Statement
2) Balance sheet
In this research balance sheet approach i s used. In this approach, two definitions have been considered for leverage.
I)  Debit/ assets Ratio
2) Debit I equity Ratio
Both definitions are used here. Studying the only research hypotheses  using   the  regression   analysis  during  2000-20004 indicates  that  in  the  first  leverage  definition  there  is  a  reverse relationship between  FL & ERC in the whole sample and  in high leverage and  in  the second  definition  i n  high  leverage. However in the first definition in low leverage and i n the second one in the whole sample and in low leverage there's no considerable relationship between ERC and FL.

Financial statements release and announcement earnings convey some information to the capital market and causes changes in price and exchange volume of stocks. Accountants concern with such questions as: is there a relationship between accounting and the stock price changes and the abnormal returns around the date of annual and do convey any information to the capital market? And do announcement earnings have any informational content?
Since unexpected stock returns of some companies after the announcement earnings is more than the other companies, it may raise a question that why the market reaction to the good and bad news of some companies is more and greater than if s reaction to other?
There are many factors affecting earnings response coefficient. The size of the company is one of these factors and has been examined more frequently in the literature and has been recognized as a powerful factor affecting informational content of financial statements and more specially announcement earnings. So our research has some questions as below:1- Do stockholders respond to announcement earnings news?
2- Is coefficient of respond to announcement earnings different among the companies of different size?
To find the answer of these questions we have studied a sample consisting of l O I companies during a 3 years period stating from 1382 (1382 to l</strong>384). The results of our research show that there is a meaningful relation between the annual announcement earnings and unexpected return around the date of declares. But the quantities for R and   R2    show a   direct   weak   relation.   Then to consider   the second question we first classified the companies   in to three classes:    small sized, middle sized and large, based on their total assets book value and then we did separate tests for each class. There results show no meaningful relation between annual announcement earnings and unexpected returns around the declaration date in large companies. But there has been a meaningful relation i n the small and middle sized companies classes so we can conclude that there is a reverse relationship between the company size and informational context of two announcement earnings. Then there should be more focus on disclosure in small and middle sized companies because they are more important to users.

There are considerable debates on how dividend policy effects firm value. Some researchers believe that dividends increase shareholder wealth; others believe that dividends are irrelevant, and still others believe that dividends decrease shareholder wealth. The main purpose of this study was to investigate the effects of dividend on common stock prices. To test the research hypothesis, the study used the 1994-2002 financial data of a cross - sectional set of companies listed in the Tehran Stock Exchange. The financial data used in the study belonged to a total of 60 corporations who met certain predetermined research criteria. Regression was used to test the research hypothesis. The results show positive correlation between the dividend and common stock prices.

Understanding the international dimensions of accounting is vital for anyone who wants to do business or invest across national borders. Accounting amounts may vary substantially according to the principles that govern them. Differences in culture, business practices, Political and regulatory structures, Currency values, foreign exchange rates, local inflation rates, business risks, and tax codes must be considered in deciding where and how to do business. Financial Statements and other disclosures are impossible to understand without an awareness of the underlying accounting principles and business culture. We discuss how accounting has developed historically, and offers a system of classification designed to help you understand the similarities and differences which you will find among national accounting principles. Accounting principles are often developed on an ad hoc basis and embody, in complicated and unpredictable ways, the information needs of managers, investors, bank and other creditors, tax authorities, Politicians and regulators, employee, and (increasingly) international organizations, among others. Resulting accounting systems vary dramatically in purpose, design, operation, and effect.