Accy 303: Fall 2000

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Accy 303 Fall 2000

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

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TA/Communications

• Ning Du, TA
• 205 Survey, 333-6412
• ningdu_at_students.uiuc.edu
• Joanne Slutsky, Communications
• 213 DKH, 333-4567
• slutsky_at_uiuc.edu

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Today

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

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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.

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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.

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Accounting as Conflict Resolution
Investors
Suppliers
Intermediaries Advisors, Analysts
Investment Opportunity
Managers
Auditors
Solid resources dots information
Customers
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Organizing Question 2
HOW is accounting regulated in the United States?
Red Public Green Private
Professional Organizations (AICPA)

• Congress Securities Acts of 1933 1934

FASB
SEC
Standards
Preparers/Assurers (Clients and firms)
Solid legal dots influence
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Organizing Question 3

• How is INTERNATIONAL accounting regulated?
• Stock Exchanges, IOSCO
• International Accounting Bodies
• IASC
• IFAC
• Global Trading Networks Ix, GEM etc..

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Organizing Question 4

• How is the US Profession organized and regulated?
• What key economic and political challenges does
  the profession face today?

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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)

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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!

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Todays 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
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Last things

• Personal Information Sheet.
• Name Cards.
• Accy 191 signup around Sep 11
• Bring picture to class.