W. A. Frankie College of Business
ACC 590, CASE STUDIES IN FINANCIAL REPORTING
Fall 2011, (sequence # 1907)
Mon and Wed 4 – 5:15 pm
3 Credit Hours
L. Watkins, Ph.D., CPA
Office FCB 411
Phone and Voice mail: (928) 523-7368
E-mail: larry.watkins@nau.edu
Web Page http://www.cba.nau.edu/faculty/fac.asp?facultyid=61
Office Hours: MW 9-10 and 3-3:30; others by appointment please.
I.
Catalog Description: Case Studies in Financial Reporting focuses on the application of
accounting standards to cases from public accounting.
II.
Prerequisites:
Courses: ACC455 (may be taken concurrently with ACC 590).
Justification: It is necessary that the student have the knowledge base from all of the
undergraduate financial accounting courses so that they may build upon and expand that
knowledge base.
III.
Course Learning Goals:
A. To cultivate the students’ ability to identify significant accounting issues in a rich
contextual setting.
B. To improve the students’ skills regarding the analysis of complex financial reporting
issues.
C. To develop the students’ ability to research complex accounting and reporting issues in
the professional literature, to assess the accounting alternatives, and select appropriate
alternatives.
D. To enhance the students’ level of competence in professionally communicating, both
orally and in written form, the results of their research and analysis.
E. To provide an overview of the development and adoption of International Financial
Reporting Standards.
IV. Course Materials:
FASB’s Accounting Standards Codification which can be accessed at
http://aaahq.org/ascLogin.cfm User ID: AAA51801 Password: SWXMWDT. (Note: This
password is not effective until Sept. 1, 2011, prior to that date use SOu4g64 as the
password.) Tutorials available at the web site are highly recommended. For 2011 this
service is being paid for by the FCB accounting area.
V.
Teaching Methods: This course will utilize the case method of instruction and lectures.
VI. Mechanisms for Feedback to Students/Interaction Between Students and Professors:
Instructor/student conferences regarding case assignments. Class discussions including
those related to case assignments. Questioning of students by instructor and classmates
following oral presentations of cases. Individual oral feedback will usually occur in
professor’s office during office hours. Written feedback on every case graded.
VII. Evaluation Tools:
Case Work. You must prepare a written analysis to be turned in for each case assigned. The
analysis is to be prepared and typed (word processed) in a professional manner. Cases that
are turned in will be subjected to a random selection process for grading. Not every case
analysis turned in will be graded. However, if you do not turn in a case assignment at the
prescribed time you will be assigned a zero for that case. [You may, given extreme
circumstances, request prior permission to turn-in an assignment late. The probability of
receiving permission approaches zero but is not zero.] Grading of cases will be based on a
combination of attributes including: 1) content, 2) analysis, 3) depth of appropriate research,
4) position taken, and 5) style (grammar, spelling, punctuation, citations, etc.). Each case
write-up is to be prepared in memo format with the intended recipient several levels superior
(chief financial officer [CFO] or senior manager/partner). Assume the recipient is a skilled
professional accountant and a Certified Public Accountant. [For convenience address the
memo to me as appropriate.] Utilization of a style manual (A Manual for Writers, Turabian;
The Elements of Style, Strunk & White; Effective Writing; A Handbook for Accountants, May
and May; etc.) is required. Utilizing the form found in texts for footnotes or endnotes is not
necessarily an acceptable format for citations.
The write-up should in general be no longer than two single spaced pages and should clearly
state the case name, issues involved, analysis, position taken, justification (professional
pronouncement citations), and any other information you feel appropriate. (Avoid long
quotations from the professional literature.) Addition of appendices is acceptable. Be very
careful to cite the work of others. Plagiarism is grounds for an F in the course.
Always be prepared by doing the required readings in advance and prepare all cases as if you
were going to orally present them. Each case will be presented by (at least) two students.
The students chosen to present will also be selected by a random process. The selection
process will take place two days prior to the date of presentation. If you present, your written
case analysis will automatically be selected for grading. If you do an average job in the
presentation (average for an entry level professional accountant) you will receive 100% of
your written case grade. If you do an exceptional presentation (walk on water, etc.) you will
receive 110% of your written case grade. However, if you do a presentation that is not in my
estimation at least average, you will receive 90% of the written case grade.
Exams. There will be an examination over the IFRS materials and an exam covering the
elements of the financial statements. There will also be a final exam, as all courses are
required to have a final exam. The final exam will consist of essay questions. However the
final will not be considered in the grade assigned for the course.
Professional Deportment. There are also 20 points allocated to professional deportment. All
students will start with these 20 points. If a student displays behaviors that are inconsistent
with the Code of Conduct (http://www.franke.nau.edu/StudentResources/CodeOfConduct/)
points will be deducted. Students that do not take an active role in the critique of oral
presentations will also experience a reduction in their points. A student may end the
semester with zero to 20 professional deportment points. If you are absent on days that cases
are presented you may fail the course unless prior permission is received in writing or you
have an institutional excuse. Having other obligations such as group meetings, presentations
or exams in other classes does not qualify you to miss any class meeting. By now you should
have developed time management skills that will allow you to multi-task.
Grade assignments. Course grades will be based on the following schema:
To receive an A you must have 90% of the possible points.
B
C
D
F
80%
70%
60%
less than 60%.
I assign all grades A through F. Graduate students and graduating seniors will receive no
preferential treatment in regard to the assignment of grades. There is an element of chance
involved in the grading process. For example, one student may be graded on a “hard” case
while another is graded on an “easy” case. The same thing may happen in the work
environment; you may get a difficult job assignment and your co-worker a less difficult
assignment. Such is life.
I will be assessing your performance as I would an employee’s. You should be at work and
on time every day. You should conduct yourself in a professional manner. All class
presentations are to be professional in nature. Your attire should be at least business casual.
Makeups: Given the nature of the course it is paramount that you attend every case
presentation. If you are not present for your scheduled oral case presentation you will
receive a zero for that presentation with no opportunity to make it up.
Withdrawal: I follow the official guidelines for withdrawing from class as stated in
university documents. This includes drop and add dates. [Deadline to drop with a “W” is
October 28.] I also follow the policy on the grade of "Incomplete" found in the NAU
Undergraduate Catalog.
Final Exam: I will follow the Fall 2011 Class Schedule regarding final exam times.
VIII. Use of Technology and Information Systems.
Students will utilize infobases of professional literature for researching case solutions.
These infobases include professional pronouncements from the Financial Accounting
Standards Board, the American Institute of Certified Public Accountants, and the Securities
and Exchange Commission.
IX. Collaborative or Team Activities.
None
X. Projects.
Multiple cases from financial accounting practice will be required.
XI. Statement Regarding Academic Dishonesty.
All assignments shall be completed without assistance from classmates, other students,
other faculty, or professionals. In other words, do all of your own research and work.
Violators of this rule will receive an F for the course. You are urged to uphold the highest
of ethical standards. If you violate any ethical standards set forth for this course I will
contact the appropriate licensing agencies which will effect potential certifications. I urge
you to be extremely careful in discussing cases with other students. You will be best
served if you refrain from such discussions until the case has been presented.
NAU MBA students are expected to meet the highest standards of professional integrity.
MBA student behavior should set an example of integrity and serve to elicit trust from
those that work with them. MBA students are held accountable to their peers and their
faculty for their actions. (MBA Oath, adapted.) Academic dishonesty is not tolerated in
any course within the MBA program. Academic dishonesty includes, but is not strictly
limited to the following: cheating by way of using any unapproved written or digital notes,
study aides, or the work of someone other than yourself; the falsification, fabrication, or
use of misleading data, information, or citations in any assignment; plagiarism; submitting
academic work prepared for a different class without the knowledge and approval of the
instructor; unsanctioned collaboration between students or groups of students;
misrepresentation of personal circumstances to justify an extended deadline or makeup
exam or assignment; forgery; violation of copyright; taking undue personal credit for team
projects and activities; assisting or knowingly allowing another student to violate the
academic dishonesty policy. If suspected, violations of the academic dishonesty policy will
be investigated by the instructor and will be reported according to the policies set forth by
the W. A. Franke College of Business and Northern Arizona University. Confirmed
violations will result at a minimum in a point deduction of twice the grade for the specific
work in question and may result in a failing grade for the course and expulsion from the
MBA program.
XII. Course Content:
A. Cases from public accounting covering topics such as:
1. Business combinations
2. Application of the equity method
3. Measuring and reporting intangibles
4. Accounting changes
5. Contingencies
6. Capitalization of costs
7. Discontinued operations
8. Exchange of non-monetary assets
9. Impairments
10. Leveraged buyout transactions
11. Research and development
12. Restructuring charges
13. Segment reporting
14. Stock compensation
15. Subsequent events
16. International accounting
17. Ethics in the practice of accounting
Please see the NAU Policy Statement at
http://www2.nau.edu/academicadmin/UCCPolicy/plcystmt.html