<span>Chaotic systems, although deterministic and predictable over short horizons, appear to be random. This study applied chaos theory to bankruptcy prediction using a pair-matched sample of bankrupt firms. Given that healthy systems exhibit more chaos than unhealthy ones, it was hypothesized that the returns of firms nearing bankruptcy would exhibit significantly less chaos, measured with Lyapunov exponents, than at an earlier period. Successful univariate and multivariate bankruptcy prediction models were then constructed using the obtained Lyapunov exponents.</span>

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<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="color: black; font-size: 10pt;"><span style="font-family: Times New Roman;">The CSU, Stanislaus, accounting program is providing a new course that meets the university-wide upper-division writing requirement and offers accounting students additional professional study. While a writing skills course is not unusual in a business program, few offer an alternative centered on the accounting body of knowledge. Undergraduate students&rsquo; research questions are usually not addressed before graduate study and reinforce skills learned in their regular accounting courses. Initial reactions from students have ranged from appreciation for additional time spent on accounting topics to disappointment at missing out on the "general business" writing course. Continual reassessment of the course is planned.</span></span></p>

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This paper examines how differences in curricular design of undergraduate accounting programs influence pass rates on the Business Environment and Concepts Section of the CPA Exam. The association of the pass rate of a school's accounting graduates to the design of the schools accounting program and to other school characteristics was examined with linear regression models. Characteristics considered were semester hours in courses covered by the CPA exam section, entrance exam scores of the schools' freshmen, whether the schools were AACSB accredited and whether the schools were public or private institutions. The number of cost and managerial accounting semester hours was consistently found to be a significant determinant of success on the new section of the CPA exam.