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Articles 1 - 3 of 3
Full-Text Articles in Accounting
The Evaluation Of The Implementation Of Fair Value Accounting: Impact On Financial Reporting, Karen Cascini, Alan Delfavero
The Evaluation Of The Implementation Of Fair Value Accounting: Impact On Financial Reporting, Karen Cascini, Alan Delfavero
WCBT Faculty Publications
The accounting industry is in a state of continuous change. In the United States, the historical cost principle has traditionally been the foundation of accounting. Until recently, assets and liabilities have been required to be recorded at their acquisition prices, with the exception of designated financial assets and financial liabilities. However, the Financial Accounting Standards Board (FASB) has now created accounting standards that are distant from the cost principle. Statement of Financial Accounting Standards No. 157: Fair Value Measurements, issued in September 2006 (FAS157, now codified as ASC 820) and Statement of Financial Accounting Standards No. 159: The Fair Value …
Guidance For Accounting Professors, Stephen Scarpati
Guidance For Accounting Professors, Stephen Scarpati
WCBT Faculty Publications
When reflecting upon their choice ofcareer, many CPAs look back to a particular college accounting professor as a source of influence. In return, many accounting professors warmly recall the assistance they were able to give students. While the benefits of a successful CPA career are obvious to many, from the standpoint of a 19-year-old undergraduate trying to pick a major, the decision is daunting. The demands of a challenging accounting curriculum can be intimidating. Add the complex regulations and rigorous examination for CPA licensing and the expectations can be overwhelming to a young student. Accounting professors can play a vital …
Rivera Custom Cabinetry: Financial Statement Analysis Using Excel, Benoit Boyer, Bridget Lyons
Rivera Custom Cabinetry: Financial Statement Analysis Using Excel, Benoit Boyer, Bridget Lyons
WCBT Faculty Publications
This case illustrates the impact of various business transactions on a firm’s financial statements. The case objective is to highlight how business transactions affect financial statements and to illustrate the links between financial statements and key ratios. The case was developed and piloted as a final project in an introductory accounting class and as an accounting review in a corporate finance course. In each part of the case, students are asked to show the impact of a business transaction on the firm’s balance sheet and income statement. The cash flow statement and financial ratios calculate automatically. Part 1 of the …