WELCOME TO SMU

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WELCOME TO SMU WELCOME BACK TO SMU
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Graduate Seminar

• Grab bag of leftovers from Advanced
• Partnerships
• Interim accounting, segment accounting
• Foreign currency etc and etc
• Derivatives
• Government and nonprofit accounting
• SEC requirements

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Preparation for CPA

• Closest thing to CPA review course
• Work questions from old exams
• Buy CPA review book
• Prepare for research questions

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Websites

• 6246.vanbreda.org
• www.ceoexpress.com
• www.10kwizard.com
• bic.cox.smu.edu/databases/
• www.sec.gov
• raw.rutgers.edu
• www.fasb.org
• www.vanbreda.org/dokuwiki/

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Themes

• Economic environment
• Price volatility and attempts to respond
• Institutions
• FASB already -- now GASB IASB
• SECs financial reporting releases
• Income measurement
• For-profits already -- now non-profits
• Annual already -- now interims segments

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Where to start?

• Two years ago began with segments and the year
  before with the effect of changing prices on
  income measurement.
• Enron and company was so much in the news along
  with the SECs reactions that I thought in 2003
  this might be the best place to start.
• In 2004 started with the easy ended with the hard
  -- reversed course last and this year!

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Housekeeping

• One mini-test plus final plus weekly popquizzes
• One summary online of city financials
• Two fairly short papers
• Your own city your favorite charity
• What are the rules? How have they followed them?
  How have they performed?
• Participation in and out of class - will count
  about 10 percent

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Task 1

• Get yourselves organized into groups
• More than two, less than six
• Please adopt strangers
• Please e-mail ASAP
• I will put a stranger into your group
  unilaterally if necessary
• Papers are by group -- one per group

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Task II

• Write, call or e-mail the City Managers office
  and ask for a copy of their latest Comprehensive
  Annual Financial Report. Check 6246vb first.
• Do not download the mini-report
• Stop by and show me yours ASAP
• Only need one per group but each person needs to
  get and show me their home town

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Task III

• Write, call or e-mail your favorite charity and
  ask for their annual report
• Stress that you want their full financial report
  not just a mini-summary
• Check availability on guidestar.org
• Download from guidestar.org their 990
• Again, one per group but more is wonderful and
  interesting

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Homework

• Start preparing for paper
• Choose group choose city charity
• Re-read Chapter 16 and my handouts
• Work as many problems as you can
• At least odd ones 1 - 23 say
• Also 33 and maybe 34