3. Final Report The final report will consist of your group work analysis but you must also write about a specific firm or firms in your industry and do an in-depth analysis of that firm. Firms chosen by each group member should be different. 4. Two paths of research (1) Professional research Assessing the impact of new accounting rule is extremely important yet complex given that various parties are affected. For effective analysis, you will first understand the effect of the standard from the point of view of each party. To do so you will read SEC filings, conference call transcripts, industry reports and other resources (see the reading list in Titanium). Below are some guidelines for you to start your research. Firm/Manager Perspective 1. Read the risk factors and MD&A in 10-Qs and 10-Ks. What are the potential effect of adopting ASC 842? Investors/ Lenders Perspective
1. Read the conference call transcripts. What are investor’s concerns about the adoption of ASC 842? 2. Read the MD&A, Item 1A. Risk Factor or covenant. What are the concerns about the adoption from the lenders? Auditor Perspective 1. Read the 10-Qs and 10-Ks. What methods do they adopt retrospective or prospective method? Read the proxy statement. How have the audit fees changed? Regulator Perspective 1. Read the SEC comment letters. What are the concerns of the regulators? How do firms respond? Are both parties reasonable? You also find sources of information from the reading list uploaded in Titanium. After you have analyzed the effect of the ASC 842 from the perspectives of each party, you must synthesize your insights and address the overall impact of the standard and recommend what each party should focus on. 10-K: Proxy statements: SEC comment letters: (2) Academic Research The research track group will do academic research related to leases with a research advisor. The advisor will provide the topic and you will follow his guidance on understanding the literature, setting up the research design, and interpreting the results. Research track will require more understanding of academic work and more data collection/ analysis.
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- Fall '15
- Academia, Academic dishonesty, advisor