1. Accy 303: Spring 2000 Rajib Doogar 343C Wohlers Hall doogar@uiuc.edu

2. TA/Communications Sally FitzGibbons 205 Survey, 333-6412
Joanne Slutsky, Communications
213 DKH,

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

4. Syllabus
14 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? Why REGULATE 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. The Accounting Regulatory System
HOW is accounting regulated in the United States?
Red = Public; Green = Private
Professional Organizations (AICPA)
Congress: Securities Acts of 1933 & 1934
SEC
FASB
Standards
Preparers/Assurers (Clients and firms)
Solid = legal; dots = influence

8. Organizing Question 2
How is the US Profession organized and regulated?
What key economic and political challenges does the profession face today?
What does FASB do?
What does the SEC do?
Emerging Issues:
Auditor Independence, International Accounting

9. Organizing Question 3 Organizing Question 4
How do taxes affect (regulate) behavior?
How are tax regulations applied?
Organizing Question 4
What do practicing accountants really do?
Applying the FASB framework to develop custom solutions.

10. Workload & Grading: 1 4 reaction papers (1/25, 2/6, 2/13, 3/22)
1 page each, on a reading
SEC information retrieval (3/8)
Seagram and Dupont tax assignment (4/5)
Exxon assignment (4/24)
9 In-class exercises (keep best 8)
tests of short-term recall
10 Quiz question preparation tasks (keep 9)
3 Quizzes (2/8, 3/1, 3/29)

11. Workload & Grading: 2 3 major group projects (oral and written)
Comment letter project (2/27)
SEC testimony analysis (3/27)
Applied research case (4/26)
Final exam (no midterm)
Class participation (every day)
Self-report + peer evaluations.
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?
TAKE NOTES AS YOU WATCH

13. Last things Personal Information Sheet. Name Cards.
Accy 191 signup … will notify
Bring picture to class.