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Accy 303: Spring 2000

Accy 303: Spring 2000. Rajib Doogar 343C Wohlers Hall doogar@uiuc.edu 244-8083 www.cba.uiuc.edu/doogar/303. TA/Communications. Sally FitzGibbons 205 Survey, 333-6412 sfitzgib@students.uiuc.edu Joanne Slutsky, Communications 213 DKH, 333-4567 slutsky@uiuc.edu. Today. Syllabus Video

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Accy 303: Spring 2000

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  1. Accy 303: Spring 2000 • Rajib Doogar • 343C Wohlers Hall • doogar@uiuc.edu • 244-8083 • www.cba.uiuc.edu/doogar/303

  2. TA/Communications • Sally FitzGibbons • 205 Survey, 333-6412 • sfitzgib@students.uiuc.edu • Joanne Slutsky, Communications • 213 DKH, 333-4567 • slutsky@uiuc.edu

  3. Today • Syllabus • Video • Discussion • Personal Information Sheet • Bring a passport size photograph of yourself to class Tuesday (copy UI id?)

  4. Syllabus • 14 pages, including list of readings and daily schedule of work • Reading and Assignment packets (sold separately) available at Dup-it. • ANY intermediate accounting text will do.

  5. Organizing Question 1 • WHY accounting? • historical factors • in an age of market capitalism • Why REGULATE accounting? • Conflicting interests, whose agenda chosen? • Accounting too important to be left to the accountants.

  6. Accounting as Conflict Resolution Investors Suppliers Intermediaries: Advisors, Analysts Investment Opportunity Managers Auditors Solid = resources; dots = information Customers

  7. Congress: Securities Acts of 1933 & 1934 The Accounting Regulatory System HOW is accounting regulated in the United States? Red = Public; Green = Private Professional Organizations (AICPA) FASB SEC Standards Preparers/Assurers (Clients and firms) Solid = legal; dots = influence

  8. Organizing Question 2 • How is the US Profession organized and regulated? • What key economic and political challenges does the profession face today? • What does FASB do? • What does the SEC do? • Emerging Issues: • Auditor Independence, International Accounting

  9. Organizing Question 3 • How do taxes affect (regulate) behavior? • How are tax regulations applied? Organizing Question 4 • What do practicing accountants really do? • Applying the FASB framework to develop custom solutions.

  10. Workload & Grading: 1 • 4 reaction papers (1/25, 2/6, 2/13, 3/22) • 1 page each, on a reading • SEC information retrieval (3/8) • Seagram and Dupont tax assignment (4/5) • Exxon assignment (4/24) • 9 In-class exercises (keep best 8) • tests of short-term recall • 10 Quiz question preparation tasks (keep 9) • 3 Quizzes (2/8, 3/1, 3/29)

  11. Workload & Grading: 2 • 3 major group projects (oral and written) • Comment letter project (2/27) • SEC testimony analysis (3/27) • Applied research case (4/26) • Final exam (no midterm) • Class participation (every day) • Self-report + peer evaluations. • NO LATE WORK! NO EXCEPTIONS!

  12. Today’s video • Does accounting matter? • Who does it matter to? • Why? • What methods do interested parties use? • What language and reasoning are used? • What do you think is the likely outcome? • Why? TAKE NOTES AS YOU WATCH

  13. Last things • Personal Information Sheet. • Name Cards. • Accy 191 signup … will notify • Bring picture to class.

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