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040			_aCO-BoUGC _cCO-BoUGC
100	1		_aBratten, Brian _9177595
245	1	0	_aForecasting taxes _bnew evidence from analysts _cBrian Bratten, Cristi A. Gleason, Stephannie A. Larocque & Lillian F. Mills
300			_aPáginas 1 a la 29
520	3		_aWe provide new evidence about how analysts incorporate and improve on management ETR forecasts. Quarterly ETR reporting under the integral method provides mandatory point-estimate forecasts by management, but firms must record certain “discrete” tax items fully in the quarter in which they occur, polluting these forecasts. We investigate management ETR accuracy, analysts' decisions to mimic management's estimate, analysts' accuracy relative to each other or to management, and dispersion. Our comprehensive analysis reveals that analysts deviate from management more and are more accurate relative to management as complexity increases, with real effects on EPS accuracy and dispersion. In contrast to prior research that analysts ignore or are confused by taxes, we provide evidence that analysts pay attention to taxes and improve on management estimates. Based on our evidence that management's quarterly ETRs have less predictive value in the presence of discrete items, we suggest standard-setters reexamine the discrete item exception to require more disclosure.
650	1	4	_991036 _aContabilidad _vPublicaciones seriadas
650	2	4	_9175940 _aPronóstico de la economía _vPublicaciones seriadas
650	2	4	_aImpuestos _vPublicaciones seriadas _9177596
690			_aEffective Tax Rate (ETR) _9177597
700	1		_aGleason, Cristi A. _9177598
700	1		_aLarocque, Stephannie A. _9177599
700	1		_aMills, Lillian F. _9177600
773	0		_082265 _9377624 _aThe accounting review 2017 V.92 No.3 (May) _o0000002032284 _x0001-4826 (papel) _h29 páginas _nIncluye tablas, referencias bibliográficas y apéndices
942			_2ddc _cART