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BUS 5433 Advanced Problems & Current Topics

Course Description

Broadly exposes the student to advanced subjects in accounting; furthers the student's ability to analyze and present solutions to complex accounting problems, as well as interpret and apply theoretical issues; and develops the student's communication and presentation skills.

Week 1

Lecture: Course Introduction
Lecture: Accounting Concepts, Rules and Challenges


  • Why financial statements are important
  • Rules of the financial reporting game
  • Accounting challenges

Week 2

Lecture: Review of Financial Statements


  • Cash vs. accrual accounting
  • Revenue and expenses
  • Income statement
  • Recording transactions
  • The balance sheet
  • The statement of cash flows
  • Essentials of financial statement analysis

Week 3

Lecture: Earnings Quality and Earnings Management


  • Revenue recognition issues
  • Earnings management
  • Earnings quality
  • Earnings surprises
  • Valuation and credit risk
  • What roles accounting numbers play in contracts
  • Regulatory agencies
  • Managed earnings and incentives

Week 4

Lecture: Receivables


  • Net realizable value of accounts receivable
  • Factoring receivables
  • Troubled debt restructuring
  • Fair value option

Week 5

Lecture: Inventories


  • Inventory issues
  • Cost flow assumptions

Week 6

Lecture: Long-Lived Assets and Depreciation


  • Long-lived assets
  • Intangible assets
  • Asset impairment
  • Depreciation

Week 7

Lecture: Liability Topics


  • The question of debt or equity
  • Bond accounting
  • Contingent liabilities

Week 8

Lecture: Financial Reporting for Owners' Equity


  • Earnings per share (EPS)
  • Stock-based compensation
  • Convertible debt

The course description, objectives and learning outcomes are subject to change without notice based on enhancements made to the course. November 2011