University of North Carolina at Greensboro
Bryan School of Business and Economics
Department of Accounting and Finance
ACC 630: Seminar in Contemporary Accounting Issues
Spring 2010
INSTRUCTOR: Dr. Linda Hughen
OFFICE: 336 Bryan
PHONE: 334-5603
E-MAIL: lmkolbas@uncg.edu
OFFICE HOURS: Mondays and Wednesdays 11:30-12:30pm and by appointment
Course Description:
This seminar is designed to allow students to critically examine and discuss issues affecting the current financial
reporting environment. Students are expected to read and analyze the assigned articles and develop ideas and
opinions which will provide the basis for class discussions.
Course Objectives:
 Understand why financial reporting is necessary and how the various users of accounting information
affect the reporting environment.
 Learn how several accounting standards have changed over time and the economic implications of those
changes.
 Critically analyze and discuss current issues affecting accounting practice.
 Propose solutions and formulate opinions to the issues being discussed.
 Effectively communicate ideas and opinions based on a thorough analysis.
Course Resources:
There is no required textbook for this course but I recommend that you have access to a recent Intermediate
Accounting textbook. Assigned readings, discussion questions, and writing assignments are posted in
Blackboard.
Class Participation:
Because this class is a seminar and not a lecture, you are expected to actively participate during class. The
assigned readings, discussion questions and writing assignments will prepare you for class. I will not collect
written responses to the assigned discussion questions but instead will call on students to discuss their
responses. Additional questions may be presented in class based on the assigned readings and our class
discussion. To receive full credit for class participation, responses should be based on sound reasoning and
appropriate analysis.
Writing Assignments:
Ten writing assignments will be collected throughout the semester. Students are expected to turn in hard copies
of the assignment at the beginning of class. Assignments turned in after 3:30pm on the due date will be
penalized by one letter grade. The writing assignment may be one or two pages long but more important than
the number of pages is that the question is answered sufficiently and concisely.
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Quizzes:
Three in-class quizzes will be given during the semester. Quizzes will be given during the first 10-20 minutes
of class on the days noted below and will consist of one or more short-answer questions based on the assigned
reading for that day. You must notify me in advance if you know that you will not be able to attend class on a
day that a quiz will be given. Failure to notify me in advance will result in a quiz grade of zero.
Exams:
All exams, including the final, will be in-class and will consist of short-answer and/or essay questions. Laptops
and notes are not allowed. You must notify me in advance if you know that you will not be able to attend class
on a day that an exam will be given and arrangements for a make-up exam will be made.
Grades will be determined as follows:
 Three exams (15% each): 45%
 Ten writing assignments (2% each): 20%
 Class participation: 20%
 Three quizzes (5% each): 15%
Additional Information:
Students are expected to abide by the UNCG’s Academic Integrity Policy and the Student Code of Conduct.
Student Conduct: http://studentconduct.uncg.edu/policy/code/
Academic Integrity Policy: http://academicintegrity.uncg.edu/violation/
Student Disabilities: http://ods.dept.uncg.edu/services/
Any request for special accommodations must come through the Office of Disability Services with the
appropriate paperwork.
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SCHEDULE OF CLASS TOPICS
(Items shown in bold are available in Blackboard)
DATE
TOPIC
ASSIGNMENT
Aug. 23
Standard Setting and Regulation
Read pages 41-71 of the SEC Work Plan
Answer Discussion Questions for Aug. 25
Aug. 25
IFRS and Convergence
Read pages 27-40 of the SEC Work Plan (be
prepared to discuss the reading on Aug. 30)
Writing Assignment 1
Aug. 30
IFRS and Convergence
None
Sept. 1
IFRS and Convergence
Writing Assignment 2
No class September 6 – LABOR DAY
Sept. 8
IFRS and Convergence
Read selected pages from the Comprehensive
Income Project
Answer Discussion Questions for Sept. 13
Sept. 13
Quiz 1
Comprehensive Income Project
Read selected pages from the Project on
Financial Statement Presentation
Writing Assignment 3
Sept. 15
Financial Statement Presentation Project
Read selected comment letters
Answer Discussion Questions for Sept. 20
Sept. 20
Financial Statement Presentation Project
None
Sept. 22
Exam 1
Writing Assignment 4
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DATE
TOPIC
ASSIGNMENT
Sept. 27
Accounting for Financial Instruments
Read ISDA News Release
Answer Discussion Questions for Sept. 29
Sept. 29
Accounting for Derivatives
Writing Assignment 5
Oct. 4
Accounting for Derivatives
Read Efficient Market Theory: Its Impact on
Accounting
Answer Discussion Questions for Oct. 6
Oct. 6
Quiz 2
Fair Value Accounting
Read pages 826-831 of The Crisis of Fair Value
Accounting: Making Sense of the Recent Debate
Be prepared to discuss the costs and benefits of
FVA noted in the article
No class October 11- FALL BREAK
Oct. 13
Fair Value Accounting
Read pages 1605-1618 of Accounting in and for
the Subprime Crisis
Answer Discussion Questions for Oct. 18
Oct. 18
Accounting and the Subprime Crisis
Read pages 1618-1632 of Accounting in and for
the Subprime Crisis
Writing Assignment 6
Oct. 20
Accounting and the Subprime Crisis
Read selected pages of the Financial Instruments
Project
Answer Discussion Questions for Oct. 25
Oct. 25
FASB’s Financial Instruments Project
Writing Assignment 7
Oct. 27
FASB’s Financial Instruments Project
None
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DATE
TOPIC
ASSIGNMENT
Nov. 1
Exam 2
Answer Discussion Questions for Nov. 3
Nov. 3
Accounting for Pensions
Writing Assignment 8
Nov. 8
Accounting for Pensions
Read selected pages of the IASB Proposal on
Pension Accounting
Answer Discussion Questions for Nov. 10
Nov. 10
Quiz 3
IASB Project on Pension Accounting
Read selected articles on pension accounting
Writing Assignment 9
Nov. 15
Accounting for Pensions
Review and be prepared to discuss accounting
standards related to Leases
Answer Discussion Questions for Nov. 17
Nov. 17
Accounting for Leases
Read selected pages of the Lease Accounting
Project
Writing Assignment 10
Nov. 22
FASB’s Project on Leases
Review and be prepared to discuss accounting
standards related to Revenue Recognition
Answer Discussion Questions for Nov. 29
No class Nov. 24 – THANKSGIVING BREAK
Nov. 29
Revenue Recognition
Read selected pages of the Revenue Recognition
Project
Answer Discussion Questions for Dec. 1
Dec. 1
FASB’s Revenue Recognition Project
None
Dec. 6
Final Exam
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