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ABSTRACTThe purpose of this paper is to offer accounting educators additional perspectives for ethics education by considering teaching approaches from medicine and law. It takes the form of literature review and argument. The paper finds that ethics education in accounting shows deficiencies in terms of code-bound content, less systematic formal training, less informal hands-on training, and less usage of partnering in comparison to ethics education in medicine and law, thereby producing students with higher moral cognitive capabilities. Based on these findings, the authors provide some recommendations for improvement.Data Availability:  Data used in this study are available from the first author upon request.

In face of broad adoption of International Financial Reporting Standards (IFRS), the Securities and Exchange Commission (SEC) is considering its quality and acceptability. This paper reports a study that examines changes in value relevance with a sample of Peru firms mandated to use international accounting standards between 1999 and 2007. The period under study is broken into a period of International Accounting Standards (IAS) between 1999 and 2001, a period of early IFRS between 2002 and 2004, and a more recent period of IFRS between 2005 and 2007 by major changes to accounting standards. The empirical results generally indicate that value relevance improved from the IAS period to the early IFRS period when the International Accounting Standards Board (IASB) took over the International Accounting Standards Committee (IASC), but worsened from the early IFRS period to the recent IFRS period when more accounting standards started to reflect IASB's preference for fair value measurement of assets and liabilities. Quality weakens to a greater extent for firms with more discretion for fair value estimates. Further analysis shows that such changes are less likely to result from changes in economic conditions, but from the changes of the standards. The findings are particularly alarming in face of rising IFRS adoptions and call for quality improvement to IFRS.

Water eutrophication caused by agricultural production has become one of the most important factors that impede sustainable rural environmental governance in China. As a result, the Chinese central and local governments want to reduce the use of nitrogen and phosphorus fertilizer and gain socioeconomical profit simultaneously by promoting crayfish and rice integrated system (CRIS) in the rural areas with abundant water resources. In this article, we investigated whether CRIS in Qianjiang, Hubei, the origin place of the system in China, contributes to fulfilling the governments' expectations. We found that CRIS efficaciously cuts the fertilizer rate in rice production and boosts farmers' incomes because crayfish has a demand for water quality and holds a large internal market requirement. However, higher profit encourages farmers to expand crayfish production and thus discourages the initiatives in rice production. The area of the ditch for crayfish production expands ceaselessly and exceeds the limit of regulation of CRIS. As a result, the CRIS in the areas has emerged as a practice of aquaculture but in farmland. This is a regulatory gap. The input–output analysis of CRIS by material balance method can also reveal that excessive feed for crayfish has become a new source of agricultural pollution. Beyond that, due to the changed irrigation system and increased water exchange frequency of CRIS, the pollution has transformed from passive distribution to active, which will increase the risk of water eutrophication on a large area.