ACCY 410 Syllabus Spring 2018 Urcan.docx

ACCY 410 Syllabus Spring 2018 Urcan.docx - Advanced...

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Advanced Financial Reporting (ACCY 410) Instructor: Dr. Oktay Urcan Office: 4009 BIF Office phone: 217 265 0383 E-mail: [email protected] Office hours: Thursdays 11:00AM – 12:00PM or by appointment Mailbox location: 284 Wohlers Web page: Accessible via the UIUC Illinois Compass site, http://compass2g.illinois.edu Teaching assistants: Amy Liao ( [email protected] ) Section Meetings All sections meet on Tuesdays and Thursdays at the following times: Section B 02:00PM – 03:20PM 3001 BIF Section G 12:30PM – 01:50PM 3001 BIF 1. COURSE OBJECTIVES The goal of the course is to assist you in learning how to prepare and use financial statement information related to advanced financial reporting topics. Specific areas include methods of accounting for mergers and acquisitions, including issues related to the scope and application of current acquisition accounting guidance. We also will focus on critical important structure-over-form issues, including accounting for business combinations that are effected by contract (rather than by exchange of equity interest), and variable interest entities. We also will cover financial reporting requirements and implications of leveraged buyouts and recaps, inter-corporate investments, goodwill impairment, spin-offs, and equity carve-outs. The accounting rules in these areas have varied from unspecified to complex. This has resulted in rapid-paced changes in the accounting and reporting for these events and in companies pushing the envelope of GAAP to achieve desired financial reporting objectives. To achieve this goal, we will consider theoretical, procedural, and practical issues in each of the previously mentioned topical areas. As is the case with most accounting courses, we will primarily focus on the preparation of financial statements (i.e., you likely will be better off understanding some journal entries). However, because financial accounting is a means of communicating information about an entity to present and potential investors and creditors, we also will consider the interpretation of financial statements (i.e., you’ll be reading some real-world annual reports). In addition, we’ll end the semester with a transaction-analysis group project in which we consider stock-price and performance data for an actual transaction that you choose from among the types we cover in this course. In my experience, class attendance and systematic and timely completion of homework and other practice problems is the best predictor of performance in any accounting course. This generalization is especially true for ACCY 410. As you likely already discerned, this course covers some pretty heady topics. However, if you keep up with the reading, do each day’s homework before coming to class, ask stimulating and exciting questions, and have an excellent attitude, you’ll learn a lot, get a pretty good grade and have a decent time while you’re at it.
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