Letter From the Editor

AuthorJames B. Edwards
Date01 October 2018
Published date01 October 2018
Letter From the Editor
Dear JCAF Reader,
I wish to thank all those who
contributed to the success of the
Journal of Corporate Accounting
and Finance (JCAF)duringmy
tenure as editor-in-chief. I am
stepping aside immediately to
deal with health issues. I appreci-
ate all the support provided to
me by Wiley staff, members of
the editorial advisory board,
columnists, reviewers, authors,
and others who have provided
advice and performed occasional
assignments benecial to JCAF.
Most of all I want to thank
Michael Ehrlich, Associate Edi-
tor, for his critical work in setting
up and managing the Scholar One
system. Equally important, Mike
has established and managed the
double-blind reviewprocess for
scholarly research oriented R
articles. His decisions and execu-
tion of this process have elevated
JCAFsstatus as a respected jour-
nal in accounting and nance.
Mike has promoted JCAF all over
the world. Success over the past
two years is due primarily to the
accomplishments of Mike.
Press Release
Business ExecutivesOpti-
mism about U.S. Economy
Hits Post-Recession High for
Second Consecutive Quarter,
AICPA Survey Finds
Federal tax reform and
deregulation cited as lead-
ing factors
Availability of skilled per-
sonnel is still top business
Sharp upswing in ination
NEW YORK (March 8,
2018)Business executives
optimism about the U.S.
economy continues to soar
but is tempered somewhat by
growing ination concerns,
according to the rst-quarter
AICPA Economic Outlook
Survey, which polls chief
executive ofcers, chief nan-
cial ofcers, controllers,
and other certied public
accountants in U.S.
companies who hold executive
and senior management
accounting roles.
Seventy-nine percent of
business executives said they
were upbeat about prospects
for the economy, eclipsing last
quarters post-Great Recession
high of 74%. As a point of ref-
erence, optimism levels were as
low as 28% in early 2016. Sur-
vey respondentsview of their
own companiesoutlook over
the next 12 months also set a
post-recession record, with 71%
expressing optimism.
Business executives are drawing
a lot of condence from current
economic indicators, and cite
federal tax reform and deregula-
tion as two factors in their
improved outlook over the next
year,said Arleen R. Thomas,
CPA, CGMA, managing direc-
tor of Americas Market, Global
Offerings & CGMA Exam,
Management Accounting for the
Association of International Cer-
tied Professional Accountants.
At the same time, were seeing
an uptick in concerns often asso-
ciated with a hot economy, from
talent pool issues to rising ina-
tion fears.
The increase in concern
about ination is particularly
acute, with 49% of business
executives saying they view it
as more of a risk than deation
over the next six months.
Thats up from 27% last quar-
ter; in the previous ve years, it
had never exceeded 38%. The
main inationary risk factors
cited arein orderlabor
costs, raw material costs, and
interest rate hikes.
On the job front, half of
business executives say their
companies have the right num-
ber of employees. Hiring plans
© 2018 Wiley Periodicals, Inc.
Published online in Wiley Online Library (wileyonlinelibrary.com).
DOI 10.1002/jcaf.22348 5

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