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Accy 303: Fall 2000

Accy 303: Fall 2000. Rajib Doogar (Raa-jeeb Dooger) 225C DKH till Sept 7 343C Wohlers (aka CW) from Sept 10 doogar@uiuc.edu 244-8083 www.cba.uiuc.edu/doogar/303. TA/Communications. Ning Du, TA 205 Survey, 333-6412 ningdu@students.uiuc.edu Joanne Slutsky, Communications

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Accy 303: Fall 2000

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  1. Accy 303: Fall 2000 • Rajib Doogar (Raa-jeeb Dooger) • 225C DKH till Sept 7 • 343C Wohlers (aka CW) from Sept 10 • doogar@uiuc.edu • 244-8083 • www.cba.uiuc.edu/doogar/303

  2. TA/Communications • Ning Du, TA • 205 Survey, 333-6412 • ningdu@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 • Note new office address on your copy of the syllabus: 343 C Wohlers Hall (CW) • 13 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 Organizing Question 2 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 3 • How is INTERNATIONAL accounting regulated? • Stock Exchanges, IOSCO • International Accounting Bodies • IASC • IFAC • Global Trading Networks: Ix, GEM etc..

  9. Organizing Question 4 • How is the US Profession organized and regulated? • What key economic and political challenges does the profession face today?

  10. Workload & Grading: 1 • 4 reaction papers (9/5, 9/19, 11/7, 11/28) • 1 page each, on a reading • 1 SEC information retrieval (9/7) • 8 In-class exercises (keep best 7) • tests of short-term recall • 9 Quiz question preparation tasks (keep 8) • 3 Quizzes (9/14, 10/17, 11/30)

  11. Workload & Grading: 2 • 3 major group projects (oral and written) • 1 comment letter analysis (10/10, 10/12) • 2 applied research problems (10/26 & 31; 11/30, 12/5 & 12/7) • Final exam (no midterm) • Class participation (every day) • I determine 80%, peer evaluations, 20%. • 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 … around Sep 11 • Bring picture to class.

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