Template-Type: ReDIF-Article 1.0 Author-Name: Benedict E. DeDominicis Title: AMERICAN REGIME INSTITUTIONALIZATION, SEGREGATION, INTEGRATION AND ASSIMILATION: THE SOCIAL IDENTITY DYNAMICS OF UTILITARIAN COOPTATION Abstract: The study highlights how authoritarian populist leaders manipulate the anti-Semitic and other stereotypes in scapegoating to overcome intra-core group polarization and mobilize political support. Alignment by two heretofore adversaries against a common third target as a perceived source of shared threat can generate a positive “ally” stereotype in shared mutual perception among the other former adversaries. Part of the anti-Semitic stereotype is the conspiratorial component, i.e., the advanced minority has higher socio-economic status because of ingroup hidden manipulation of significant components of the polity. Despised lower status ethnic ingroups, stereotyped as backward and childlike by the core, are prone to be perceived as being instruments for manipulation by the envied higher status outgroup. This analysis thus shows how the Holocaust was an essential element of the wartime German regime. It mobilized societal resources around scapegoating which was part of the normative active and coercive and utilitarian control mechanisms characterizing Nazi political control. Authoritarian populist regime enthusiasts can join the coercive apparatus to gain esteem and material benefits. Normative active control utilizing racist xenophobia was a means by which to generate support internally. Inferences from Great Power midtwentieth century authoritarian populism are applied to the analysis of the US Trump phenomenon. Classification-JEL: H12, H56, H63, I38, K38, N11, N51, O15, O51, P11, P16 Keywords: Achievement, Ascription, Nationalism, Political Regime, Social Identity, Social Competition, Social Creativity, Social Mobility Journal: Review of Business and Finance Studies Pages: 1-30 Volume: 13 Issue: 1 Year: 2022 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v13n1-2022/RBFS-V13N1-2022-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:1-30 Template-Type: ReDIF-Article 1.0 Author-Name: Brent McCallum Author-Name: Chloe McCallum Title: REVENUE RECOGNITION ACCOUNTING: UNDERSTANDING THE IMPACT OF ASC 606 Abstract: This case contrasts revenue recognition accounting under the previous standard, the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 605, and the subsequent guidance (ASC 606). This case is appropriate for undergraduate or graduate business courses focusing on corporate financial reporting. Accounting and finance professionals will find the case beneficial in understanding the application of the new pronouncement to common revenue recognition issues. Utilizing a putative Audit Partner who is auditing the environmental controls division of a manufacturing company, the case requires the procurement of information related to recently implemented revenue recognition accounting standards. The case employs a series of questions to ensure student comprehension of a variety of aspects of accounting for revenue recognition under the new standards, and the preparation of journal entries for fact patterns related to many typical transactions entered into by the auditee company (e.g. recognition of discounts.) The case makes extensive use of the FASB ASC references and guidance from the global professional accounting firms. Students should plan to spend 5-10 hours outside of class addressing the case requirements; in-class discussion of the case will run approximately 2 hours. Students may also present their findings in class for feedback and debate. Classification-JEL: M41, M42 Keywords: Revenue Recognition Accounting, Accounting Standards Codification (ASC) 606, International Financial Reporting Standards (IFRS) 15, International Accounting Standards Board (IASB), Financial Accounting Standards Board (FASB), Manufacturing Industry Journal: Review of Business and Finance Studies Pages: 31-45 Volume: 13 Issue: 1 Year: 2022 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v13n1-2022/RBFS-V13N1-2022-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:31-45 Template-Type: ReDIF-Article 1.0 Author-Name: Umapathy Ananthanarayanan Author-Name: Peter Harris Author-Name: Terrance Jalbert Title: A CASE STUDY OF ACCOUNTING STANDARDS CODIFICATION 842 LEASE ACCOUNTING Abstract: The inception of Accounting Standards Codification (ASC) 840 in 1977, involving the off-balance sheet treatment of most leases, resulted in decades of controversy. Recent US GAAP (Generally Accepted Accounting Principles) changes introduced significant modifications to lease accounting for public companies. The new ASC 842 rules became effective for periods beginning after December 15, 2018. The new rules require capitalization of all non-cancellable leases with terms greater than one year in duration. Liabilities created by the lease contract now become a balance sheet debt item resulting in a significant financial statement effect. Indeed, this recharacterization may produce a significant negative impact on a firm’s debt ratios and covenant agreements. The combined effects of these changes may significantly affect the way entities conduct business. This case study focuses on differences in the treatment of leases under old lease accounting conventions and the new lease rules under US GAAP. The case requires students to examine the impact of these differences on financial statements and selected financial ratios. Students begin with GAAP financial statements under the old lease requirements and prepare a balance sheet and income statement and cash flow, reflecting the new lease rules. Designed for use at both the undergraduate and graduate levels, this case study may be appropriuate for an Intermediate Accounting II, Accounting Theory, Financial Statement Analysis, or an International Accounting class. Classification-JEL: M40, M41, M49 Keywords: US GAAP, Ratios, Capital Lease, Operating Lease, Financing Lease Journal: Review of Business and Finance Studies Pages: 47-62 Volume: 13 Issue: 1 Year: 2022 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v13n1-2022/RBFS-V13N1-2022-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:47-62 Template-Type: ReDIF-Article 1.0 Author-Name: Rishan Sampath Hewage Author-Name: Jaafar Pyeman Author-Name: Norashida Othman Author-Name: Norsariah Binti Abdul Rahman Author-Name: Shahsuzan Zakaria Title: AN OVERVIEW ON THE RELATIONSHIP BETWEEN FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH Abstract: Identifying the Financial Development (FD) and Economic Growth (EG) nexus has received considerable attention in both theoretical and empirical literature for many years. Empirically, many scholars argue financial sector plays a vital role in an economy and consider as one of the significant macroeconomic variables which decide the direction of the economic development of a country. Theoretically, the FD leads to identifying better investment opportunities, boosts innovation, enhances the efficiency of capital markets, and improves the risk-taking capacity of investors that eventually directing to a more efficient allocation of resources to the real sector. However, the findings in previous scholarly works are vague and inconclusive. Therefore, this study attempts to do an in-depth analysis of key theories, concepts, and the methodological limitations of the previous studies to measure the validity of FD and EG nexus from an empirical and theoretical perspective. The results of this paper enlighten the new research pathway and direct the policymakers to architect the country's fiscal policies and development strategies to achieve sustainable economic development goals. Classification-JEL: B26, B41 Keywords: Economic Growth, Financial Development, Asian Region Journal: Review of Business and Finance Studies Pages: 63-77 Volume: 13 Issue: 1 Year: 2022 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v13n1-2022/RBFS-V13N1-2022-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:63-77 Template-Type: ReDIF-Article 1.0 Author-Name: Karla Cantu Author-Name: Ryan B. Lunsford Title: SPACE TRAVEL PRIVATIZATION BY SPACEX Abstract: In 1970, the Indian Space Research Organization (ISRO) started the Satellite Launch Vehicle (SLV) project, a small-lift launch vehicle project (Muegge, 1970). Since its introduction in 1970, with a mission to launch satellites into space using a rocket-powered vehicle, the SLV market has grown exponentially and is currently valued at $2B (Clark, 2013). The Congressional Research Service classified SLV under aircraft and spacecraft industries and exercises, focusing on space-related services for telecoms and satellite navigation. This case study summarizes Elon Musk’s aspirations, conflicts, and milestones to develop his company, SpaceX, into a leading private commercial spaceflight venture to visit Mars. The SpaceX project's primary barriers were overcome by vertical integration, with four launch locations across the United States (Mosher, 2019). The SpaceX project covers over 100 missions, representing over $12B in revenue to transport astronauts to the International Space Station (Maddox, 2021). Elon Musk follows innovative principles and reusability to decrease the overall cost of an SLV. This case study discusses entrepreneurship, self-determination, and management, to give readers a deeper understanding of this industry. SpaceX provides employees freedom, inspiration, and maintenance of operational control. Elon Musk demonstrates that success can be achieved by seeking autonomy for entrepreneurship, authoring, and creating change. Classification-JEL: G0, H0 Keywords: SpaceX, Elon Musk, Space Launch Vehicle, Rio Grande Valley, Mars Journal: Review of Business and Finance Studies Pages: 79-92 Volume: 13 Issue: 1 Year: 2022 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v13n1-2022/RBFS-V13N1-2022-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:79-92 Template-Type: ReDIF-Article 1.0 Author-Name: Allen Gitelman Author-Name: Rafael Romero Author-Name: Daniel Hebert Title: CAN BUSINESSES SUCCEED WITH OPEN INTELLECTUAL PROPERTY? THE CASE OF TESLA, INC. Abstract: Along with business efforts in research and development, history presents a tendency to patent and monopolize ideas. Moreover, when a business identifies a unique concept; it then seeks to remain the only business offering this innovative idea to make a fortune out of it. The issue of intellectual property rights has developed over history to the present, more sophisticated laws of patents that spread to all industries. The most dominant sector where patents and intellectual properties reigned was in the technology industry. However, today, it applies to many areas. Tesla Inc., however, has opened its patents to achieve a spread sustainability cause in the world. This is to many people, a difficult step, while it is supported by “The Great Reset”. One plausible question that one may ask is whether Tesla will gain or lose in its patent approach. Although patents are used by companies to maintain monopolies and essentially make a company benefit from its efforts, the authors of this paper content that businesses should refrain from the use of patents as they do not make any substantial contribution to the company's goals, as they are costly to pursue and maintain, and are the enemies of general societal progress. Classification-JEL: M00, O34, 036, K20, L1, L17, L2, L21, L24 Keywords: Intellectual Property, Intellectual Capital, Open Innovation, Regulation, Business Law, Market Structure Journal: Review of Business and Finance Studies Pages: 93-100 Volume: 13 Issue: 1 Year: 2022 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v13n1-2022/RBFS-V13N1-2022-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:13:y:2022:i:1:p:93-100