Accy 493: Financial Reporting
Spring 2003
UIUC
Rajib Doogar
Welcome to the course home page for UIUC Accy 493: Financial Reporting, Spring 2003
- Classes meet M, W. Class times are:
- 8:00-9:50 am in 317 DKH (MAS)
- My office hours are M, W. from 10:30-11:30 am in 225E DKH, ph: 244.8083 Also by appointment.
- K.P. Hong (TA) office hours are: Thursday 3:00p.m.-5:00p.m. in 235S Armory, ph: 265.8198 Also by appointment.
The syllabus: Word and pdf. Note: The homework assignment is tentative. Actual assignments may be revised by notice in class.
Some useful accounting-related websites
Announcements (Latest first)
- April 24: Solutions to Pension problems
- April 14: Solutions to Leasing problems
- Links to the three readings on earnings management and expectations management: Burgstahler and Dichev 1997, Degeorge Patel and Zeckhauser 1999 and Bartov Givoly and Hayn 2002.
- Link to the optional reading for leases. This article was part of a special issue with three other pieces: an editorial overiew, a committee report and a research literature survey. You may find these additional materials quite interesting as well.
- April 5: Solution to P.15-17 (pdf)
- Mar 17: Chapter 13, 15 and 16 homework solutions
- Mar 9: Chapter 13 homework solutions
- Mar 5: Chapter 13 homework
- Feb 25: Chapter 11 homework solutions.
- Feb 24: Here be the Chapter 12 homework problems and solutions.
- Feb 23: The day 8 discussion notes. This covers the material for Chapter 3 consolidation material. Here are the homework and practice problem solutions.
- Feb 17: The day 7 discussion notes. This covers the material for today (consolidations). Here are the homework and practice problem solutions.
- Feb 08: The day 5 discussion notes have been slightly modified to add coverage of the case where the investor sells capital goods to the investee. This case was not covered earlier. Please download the revised document.
- Feb 07: During office hours, I used a graphic illustration of "what's really going on under the hood in FAS 133" using a very simple example. Since people liked it, I thought I would make a little FAS 133 graphic illustrator (MS Excel) widget for you to enjoy. Feedback and corrections most welcome. If you get an error message when you open the sheet, choose either "read only" or "notify", I don't really know what it does, but it makes the problem go away (for our purposes at least).
- Feb 06: I have updated the solutions to day 4 homework (E10-3) PDF and Excel. The changes are slight but rather helpful I think. Please download the revised version.
- Feb 05: Day 05 Discussion Notes, homework solutions and additional solutions. Some interesting developments in the United Kingdom audit environment.
Reminder: Monday's quiz will cover accounting for partnership and foreign currency transactions. The quiz will not include any material on accounting for equity investments. I will hold extra office hours on Friday, Feb 7, 2003 from 1:00 to 2:00 pm in Room 120 Wohlers Hall. The office hours will be open to all. No prior appointment is needed.
- Feb 04: To help you somewhat better understand the treatment of the three types of hedges discussed in the Fischer reading for Day 4, I prepared some additional notes. I have also found the following one page summary very useful in understanding FASB's current approach to hedge accounting. It is extracted from Ernst & Young's FAS 133 tome (which runs to some 500 pages). The executive summary itself is 50 pages and is available from the firm's website on request.
- Feb 03: Today's Discussion overview. Solutions: PDF, Excel and additional problems.
- Feb 01: Having one of those "what am I doing with my life" moments? Here's something you might enjoy. (Note where she got her accounting degree ... go Lions!)
- Jan 31: Click here for the full text of the SEC plaint against KPMG in re Xerox. Paragraphs 39-75 spell out the mechanics of the various accounting techniques of concern. In particular, you should treat paragraphs 43-62 on lease accounting treatment details as additional required reading for the lease module of this course. You can read KPMG's response to the filing here.
- Jan 29:
- Jan 27: Discussion Notes (PDF). On Wednesday, we will focus on the Intel case for about 30 mins before taking up the discussion on partnerships.
I handed out two articles in class. In case you did not pick up a copy, you can download one here: WSJ Article on CDOs and on Options.
In addition you may be interested in these two articles about management incentives, beliefs and perspectives: Article 1(WSJ) and Article 2(NYT). Enron's SPEs have been discussed to death of course, but the psychological perspective presented in the WSJ article is always worth reiterating. On another, not entirely unrelated theme, the NYT article talks about the accounting shennanigans at WorldCom. After reading these articles, how do you feel about rule-based vs. principles-based standards? Would one type of standard be better than another at preventing the Enron or WorldCom fiascos?
- Jan 21: .
- Jan 13: Welcome! Course reading packets are available from TIS Bookstore, 704 S. Sixth Street, Champaign. You should ask for the readings packets for Accy493 Section D1 (other sections use different readings). Phone: 337-4900. Web Site: http://www.tisbook.com.
For Wednesday, you should read the first day's readings (items #1-3) before you come to class.
For the Fall 2002 course home page click here
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