Acc 611 Contemporary Developments in Accounting Thought

	Acc 611 Contemporary Developments in Accounting Thought Spring, 1998 Jagdish S. Gangolly Office: BA 333 Phone: (518) 442-4949 Fax: (518) 442-3944 Office Hours: TTH 10:00 - 11:00 AM. Instructor Homepage: http://www.albany.edu/acc/gangolly Newsgroup: sunya.class.acc611 Announcements Page: http://www.albany.edu/acc/courses/acc611.spring98.announce.html Catalog Description Contemporary Accounting Theory. Structures accounting thought and integrates the pronouncements of the AICPA and American Acounting Association with authoritative writings in the journals. An Honest Description A brief examination of the history of accounting and the accounting profession. International Accounting. Introduction to securities regulation in the United States in the context of financial reports. An in-depth examination of the court decisions involving accountants. Course Objectives The course will consist of three segments. The first segment will examine briefly the development of accounting as a field of study as well as a profession. The second segment will examine accounting and financial reporting from a multi-national/transnational corporate perspective. The third segment will examine the regulatory aspects of securities laws in the United States in as much as they influence corporate financial reporting and accounting. By the end of the semester, you should Accounting History have an adequate appreciation of the historical development of the field of accounting as well as the accounting profession. be familiar with the various sources of information on the development of accounting. be able to conduct independent research into any of the aspects of the development of accounting in the United States. International Accounting be familiar with the international environment in which businesses operate and in which accounting and financial reporting function. be familiar with the sources of information for researching in the area. have a good understanding of the regulatory, legal, and professional environment in at least one region of the world, besides a basic understanding of the same in other regions. be able to conduct independent research in the area of international accounting & auditing. SEC Accounting & the Liability of Accountants be familiar with the evolution of securities laws and regulations in the United States in as much as they influence accounting. be familiar with the sources of information on securities laws and regulations in the United States (specially the information that is publicly available over the internet). be familiar with the filing requirements under the securities laws in the United States. be able to conduct independent research in the area of corporate financial reporting in the context of securities regulation. Texts/Readings I. Accounting History Chapters 1 - 3 from Accounting Theory (5th Edition) by Eldon S. Hendricksen & Michael F. van Breda (Irwin, 1992). A copy of this will be on reserve in the library. I also may assign additional readings during the semester (HvB in the schedule below). II. International Accounting International Accounting (2nd. Edition) by Frederick D.S. Choi & Gerhard G. Mueller (Prentice Hall, 1992). (CM in the schedule below). III.SEC Accounting & Accountants' Liability SEC Regulation of Public Companies by Allan B. Afterman (Prentice Hall, 1995). (A in the schedule below). Course Conduct The course will consist of lectures, quite a few cases, and group projects. (involving extensive oral presentations as well as written reports). It is important that you keep up with the class. Failure to understand the material covered in the class will reduce the effectiveness of attending further classes during the semester. Should you feel lost, please seek help immediately. You are most welcome to discuss any questions you may have by seeing me in my office, posting them on the class newsgroup, or sending e-mail to the instructor.I usually make sure that such questions are answered in 24 hours. The topics covered in this course are all fast-changing, and there is a vast body of information publicly accessible through the internet. As we proceed, I shall be adding specific web pages of internet resources available for the topics covered in this course. Much of the course is based on group work. It is therefore important that you make sure that the group members are compatible. Grading The final grades in the course will be based on points scored on four components as follows: Country Study (INDIVIDUAL PROJECT: written report only) 100 points Regional Comparative study (GROUP PROJECT: written report and oral presentations) 200 points Accountants' Liability Project (GROUP PROJECT: written report and oral presentations) 100 points Class participation 25 points. The final grade will be relative, depending on the total points scored. There will be no in-class examinations in this course. Projects: Country study project is the only individual project. in the course. The others are all group projects. The composition of the groups will be the same for all group projects. There should be at most three students in each group. You should form groups and choose the regions by February 5, 1997. All the reports are due on May 1, 1997. The written report for each group for the regional comparative study and the country study must be ONE integrated report in the form of a web site for the region chosen by your group. The individual country component will be graded for the individual responsible for the study; the rest will carry a grade for the group. At the end of the semester I shall be placing on the department web pages the reports of all the groups. It is therefore imperative that the report be of a very high quality. You will need to make a series of presentations in the class for each component below. I shall be posting the presentation schedules, requirements etc. Regional Comparative study: The objective of the regional comparative study is to acquaint you with the business, legal, regulatory and professional environment in which accounting functions in one region of the world. Each group will be responsible for one of the following regions: Latin America, British Commonwealth (including the Netherlands, but excluding Canada), Eastern Europe (most of the erstwhile communist bloc countries excluding China, Cambodia, Vietnam, Laos, Burma), Pacific Rim countries (Japan, Peoples Republic of China, Republic of China, Singapore, Malaysia, Vietnam, Hong Kong, etc.), Western Europe - North (Germany, Austria, Denmark, Belgium, etc.), Scandinavia (Norway, Sweden, Finland), Western Europe - South (France, Spain, Portugal, Italy, Greece). The group written report should involve the comparison of the business, legal, regulatory and professional environments between the various countries in the region as well as their comparison with the situation in the United States. Country Study: The countries in the region chosen by the group must be distributed among the members of the group. This is the only individual aspect of the course, and should be taken very seriously. The quality of the regional comparative project will depend crucially on this part of the course. Since this is the only individual project in the course, your course grade will depend crucially on the quality of work here. Accountants' Liability Project: Each group will select a particular aspect of the law that gives rise to potential liability for a practising accountant. The group will make presentations providing a coherent discussion of the various legal theories that have been used by the courts to derive liability for the accountants.The research you will be responsible for include a literature search in the various law reviews, and court decisions involving professional accountants. I shall be providing you with a list of possible project topics. However, you are welcome to pick a topic on your own in consultation with me. I shall be posting the presentation dates for this component of the course. The written report for this part of the course also must be a webpage containing a review of the topic with extensive bibliographies and table of cases. *I shall be putting these pages too on the department's webpages, and therefore it is imperative that the report be of high quality.* TENTATIVE SCHEDULE NOTE: In the schedule below, float represents slack, should we fall behind. If we are on schedule, we shall be viewing (and discussing) a few documentaries on topics covered in the class. January 22, 1998. Introduction Read: HvB Ch.1-3. January 27, 1998. History of Accounting I. Read: HvB Ch.1-3. January 29, 1998. History of Accounting II. Read: HvB Ch.1-3. February 3, 1998. History of Accounting III. Read: HvB Ch.1-3. February 5, 1998. Introduction to International Accounting. Read: CM Ch.1. February 10, 1998. Classification & Development. Read: CM Ch.2. February 12, 1998. Comparative Financial Accounting Practices. Read: CM Ch.3. February 17, 1998. Setting & Using International Standards. Read: CM Ch.6. February 19, 1998. Financial Reporting & Disclosure. Read: CM Ch.7. February 24, 1998. International Auditing. Read: CM Ch.8. February 26, 1998. Analysing Foreign Financial Statements. Read: CM Ch.9. March 3, 1998. Float March 5, 1998. Float March 10, 1998. Float March 12, 1998. Float March 17, 1998. Spring Break (No Class) March 19, 1998. Spring Break (No Class) March 24, 1998. The Institutional Framework of Securities Regulation. Read: A Ch.1. and a list of internet sources. March 26, 1998. Raising Capital, Registration & reporting Under the Securities Laws. Read: A Ch.2-3. March 31, 1998. Accounting & Reporting Under the Securities Laws. Read: A Ch.4. April 2, 1998. A Survey of the Liability of Accountants under Common Law. Readings: To be announced. April 7, 1998. Liability of Accountants & the Regulation of Insiders. Read: A Ch.5-6. April 9, 1998. No Class. April 14, 1998. Group Presentations: International Accounting) I. April 16, 1998. Group Presentations: International Accounting) I. April 21, 1998. Group Presentations: International Accounting) II. April 23, 1998. Group Presentations: International Accounting) II. April 28, 1998. Group Presentations: Liability of Accountants. April 30, 1998. Group Presentations: Liability of Accountants. May 5, 1998. Float

Spring, 1998
Jagdish S. Gangolly
Office: BA 333
Phone: (518) 442-4949
Fax: (518) 442-3944
Office Hours: TTH 10:00 - 11:00 AM.
Instructor Homepage: http://www.albany.edu/acc/gangolly
Newsgroup: sunya.class.acc611
Announcements Page: http://www.albany.edu/acc/courses/acc611.spring98.announce.html

Catalog Description

Contemporary Accounting Theory. Structures accounting thought and integrates the pronouncements of the AICPA and American Acounting Association with authoritative writings in the journals.

An Honest Description

A brief examination of the history of accounting and the accounting profession. International Accounting. Introduction to securities regulation in the United States in the context of financial reports. An in-depth examination of the court decisions involving accountants.

Course Objectives

The course will consist of three segments. The first segment will examine briefly the development of accounting as a field of study as well as a profession. The second segment will examine accounting and financial reporting from a multi-national/transnational corporate perspective. The third segment will examine the regulatory aspects of securities laws in the United States in as much as they influence corporate financial reporting and accounting.
By the end of the semester, you should

Accounting History

have an adequate appreciation of the historical development of the field of accounting as well as the accounting profession.
be familiar with the various sources of information on the development of accounting.
be able to conduct independent research into any of the aspects of the development of accounting in the United States.

International Accounting

be familiar with the international environment in which businesses operate and in which accounting and financial reporting function.
be familiar with the sources of information for researching in the area.
have a good understanding of the regulatory, legal, and professional environment in at least one region of the world, besides a basic understanding of the same in other regions.
be able to conduct independent research in the area of international accounting & auditing.

SEC Accounting & the Liability of Accountants

be familiar with the evolution of securities laws and regulations in the United States in as much as they influence accounting.
be familiar with the sources of information on securities laws and regulations in the United States (specially the information that is publicly available over the internet).
be familiar with the filing requirements under the securities laws in the United States.
be able to conduct independent research in the area of corporate financial reporting in the context of securities regulation.

Texts/Readings

I. Accounting History

Chapters 1 - 3 from Accounting Theory (5th Edition) by Eldon S. Hendricksen & Michael F. van Breda (Irwin, 1992). A copy of this will be on reserve in the library. I also may assign additional readings during the semester (HvB in the schedule below).

II. International Accounting

International Accounting (2nd. Edition) by Frederick D.S. Choi & Gerhard G. Mueller (Prentice Hall, 1992). (CM in the schedule below).

III.SEC Accounting & Accountants' Liability

SEC Regulation of Public Companies by Allan B. Afterman (Prentice Hall, 1995). (A in the schedule below).

Course Conduct

The course will consist of lectures, quite a few cases, and group projects. (involving extensive oral presentations as well as written reports). It is important that you keep up with the class. Failure to understand the material covered in the class will reduce the effectiveness of attending further classes during the semester. Should you feel lost, please seek help immediately. You are most welcome to discuss any questions you may have by seeing me in my office, posting them on the class newsgroup, or sending e-mail to the instructor.I usually make sure that such questions are answered in 24 hours.

The topics covered in this course are all fast-changing, and there is a vast body of information publicly accessible through the internet. As we proceed, I shall be adding specific web pages of internet resources available for the topics covered in this course.

Much of the course is based on group work. It is therefore important that you make sure that the group members are compatible.

Grading

The final grades in the course will be based on points scored on four components as follows:

Country Study (INDIVIDUAL PROJECT: written report only) 100 points
Regional Comparative study (GROUP PROJECT: written report and oral presentations) 200 points
Accountants' Liability Project (GROUP PROJECT: written report and oral presentations) 100 points
Class participation 25 points.

The final grade will be relative, depending on the total points scored. There will be no in-class examinations in this course.

Projects:

Country study project is the only individual project. in the course. The others are all group projects. The composition of the groups will be the same for all group projects. There should be at most three students in each group. You should form groups and choose the regions by February 5, 1997. All the reports are due on May 1, 1997.

The written report for each group for the regional comparative study and the country study must be ONE integrated report in the form of a web site for the region chosen by your group. The individual country component will be graded for the individual responsible for the study; the rest will carry a grade for the group. At the end of the semester I shall be placing on the department web pages the reports of all the groups. It is therefore imperative that the report be of a very high quality. You will need to make a series of presentations in the class for each component below. I shall be posting the presentation schedules, requirements etc.

Regional Comparative study: The objective of the regional comparative study is to acquaint you with the business, legal, regulatory and professional environment in which accounting functions in one region of the world. Each group will be responsible for one of the following regions: Latin America, British Commonwealth (including the Netherlands, but excluding Canada), Eastern Europe (most of the erstwhile communist bloc countries excluding China, Cambodia, Vietnam, Laos, Burma), Pacific Rim countries (Japan, Peoples Republic of China, Republic of China, Singapore, Malaysia, Vietnam, Hong Kong, etc.), Western Europe - North (Germany, Austria, Denmark, Belgium, etc.), Scandinavia (Norway, Sweden, Finland), Western Europe - South (France, Spain, Portugal, Italy, Greece). The group written report should involve the comparison of the business, legal, regulatory and professional environments between the various countries in the region as well as their comparison with the situation in the United States.
Country Study: The countries in the region chosen by the group must be distributed among the members of the group. This is the only individual aspect of the course, and should be taken very seriously. The quality of the regional comparative project will depend crucially on this part of the course. Since this is the only individual project in the course, your course grade will depend crucially on the quality of work here.
Accountants' Liability Project: Each group will select a particular aspect of the law that gives rise to potential liability for a practising accountant. The group will make presentations providing a coherent discussion of the various legal theories that have been used by the courts to derive liability for the accountants.The research you will be responsible for include a literature search in the various law reviews, and court decisions involving professional accountants. I shall be providing you with a list of possible project topics. However, you are welcome to pick a topic on your own in consultation with me. I shall be posting the presentation dates for this component of the course. The written report for this part of the course also must be a webpage containing a review of the topic with extensive bibliographies and table of cases. I shall be putting these pages too on the department's webpages, and therefore it is imperative that the report be of high quality.

TENTATIVE SCHEDULE

NOTE: In the schedule below, float represents slack, should we fall behind. If we are on schedule, we shall be viewing (and discussing) a few documentaries on topics covered in the class.

January 22, 1998.
Introduction
Read: HvB Ch.1-3.

January 27, 1998.
History of Accounting I.
Read: HvB Ch.1-3.

January 29, 1998.
History of Accounting II.
Read: HvB Ch.1-3.

February 3, 1998.
History of Accounting III.
Read: HvB Ch.1-3.

February 5, 1998.
Introduction to International Accounting.
Read: CM Ch.1.

February 10, 1998.
Classification & Development.
Read: CM Ch.2.

February 12, 1998.
Comparative Financial Accounting Practices.
Read: CM Ch.3.

February 17, 1998.
Setting & Using International Standards.
Read: CM Ch.6.

February 19, 1998.
Financial Reporting & Disclosure.
Read: CM Ch.7.

February 24, 1998.
International Auditing.
Read: CM Ch.8.

February 26, 1998.
Analysing Foreign Financial Statements.
Read: CM Ch.9.

March 3, 1998.
Float