Intermediate Accounting Research Articles

Reporting of book-tax differences for financial and tax purposes: A case study

Abstract Recent events in financial and tax accounting have brought the issue of financial accounting for tax expenses to the forefront of both the accounting profession and academia. Complexities abound on both sides, from ASC 740/FAS 109 and ASC 740-10/FIN 48 issues on the financial accounting side to the Schedule M-3 and Schedule UTP reporting requirements on the tax side. This complexity has created a vacuum in accounting curricula, as bits and pieces of the total puzzle are covered in the intermediate accounting and tax courses, without a comprehensive, integrated review in one place. This paper bridges the gap between financial accounting and tax courses by providing a comprehensive review of the computational, disclosure and reporting requirements both from a financial accounting and tax perspective. The result is an integrated lecture/study tool for students. A comprehensive case with a multinational firm, where the reporting and computational requirements are more complex, is used to demonstrate implementation of these requirements. Materials are presented in a format that enables instructors to vary the depth into which these book and tax rules are examined.

Accounting Boot Camp

I explore the effectiveness of a program designed to improve student effort and performance in intermediate accounting and other upper division accounting courses. At a mid-sized public university in the Western US, many students enrolled in Intermediate Accounting I (their first upper division course) struggled with the rigor and academic demands of this course, resulting in failure rates of 30%-45%. Most retake the course and ultimately contribute to nationally competitive CPA pass rates. Additionally, in other upper division accounting courses, students new to the upper division underperformed their more experienced peers. In both cases, students new to upper division courses appeared to lack a commitment to, or awareness of, the effort needed for success in the accounting program. An accounting “Boot Camp” was implemented to prepare new accounting majors for the expectations of the program. I detail the implementation of the boot camp and review its effectiveness by comparing the performance of attendees with non-attendees. Controlling for other contributing factors, I find evidence that attendees took their studies more seriously and outperformed their non-attending peers in Intermediate Accounting I. Attendees in other upper division accounting courses no longer underperformed their more experienced peers. As an alternative to entrance exams or extensive review sessions, this expectations-oriented boot camp solution may help students transition from lower-division to upper-division courses in a variety of majors.

A Critical Analysis of Accounting For Certain Debt Transactions

In the course of teaching intermediate accounting over the past decade, I have often had my students analyze a particular APB Opinion or FASB Standard in the belief that this exercise would not only increase their understanding of the technical provisions of the promulgation, but also the rationale of the standard-setting body in arriving at its provisions.

The usage of an online discussion forum for the facilitation of case-based learning in an intermediate accounting course: a New Zealand case

This paper describes the implementation of an online discussion forum as a means of facilitating case-based learning in an intermediate financial accounting course. The paper commences with a review of case-based learning literature and the use of online discussions as a delivery platform, linking these pedagogical approaches to the emerging needs and learning styles of the current generation of ‘digital’ students. The paper then describes the context in which the research takes place, including the nature of the course, its learning objectives and its educational philosophy, and describes the rationale for the implementation and usage of the online discussion forum. Survey data were collected and analysed from a single student cohort to assess student perceptions of the benefits and limitations of case studies and the usage of online discussion groups to augment case-based learning. The findings suggest that students perceive numerous benefits associated with case-based online discussions, including being exposed to other students’ opinions, improving their ability to critically review case information, motivation to consult additional non-course related material and the convenience of the technology utilised.

Development of and student reactions to an international consolidation case problem

Use of case problems is a well established pedagogy for enhancing student learning. This paper describes development of an international consolidation case problem and reports how students responded to its assignment. The case problem could be effectively used in accounting classes such as international accounting and advanced accounting. Further, the case could be used to introduce professional accountants, who may not have previously faced this issue, with a basic overview of the international consolidation process. The issue of consolidation is typically covered in advanced accounting courses, and international financial reporting is covered in international accounting or intermediate accounting courses. The international consolidation case described in this paper makes a unique contribution by incorporating both consolidation accounting and international financial reporting (specifically, foreign currency translated financial statements) into one comprehensive case problem. When a subsidiary corporation is located in a different country from the parent corporation, the difficulty of consolidating the financial statements becomes more complex than for a strictly domestic company, as a result of different GAAPs and different currencies. The case problem has been used in two southwestern US universities. Student feedback indicates that the problem was well received and benefited student learning.

Contextualizing the Intermediate Financial Accounting Courses in the Global Financial Crisis

This paper represents an attempt to incorporate concepts and issues stemming from the global financial crisis (GFC) into the typical Intermediate Accounting, two-course sequence as taught in North American colleges and universities. The teaching approach which the authors advocate embeds the GFC throughout these courses. The main expected outcome from this project is a greater appreciation on the part of the accounting and finance majors that other business disciplines ‘matter.’ Put differently, those disciplines, including economics, banking, and management, interface with accounting and finance. Therefore, to understand accounting, students must be conversant with the other disciplines. The principal interrelating concepts we cover in this approach are as follows: capital maintenance, liquidity, solvency, financial leverage, efficient market hypothesis, transparency in disclosure, derivatives, fair valuation, moral hazard, and ethics. Editor's Note : The continuing repercussions of the GFC were felt on the day when the final version of this paper was submitted (8 August 2011) due to Standard & Poor's downgrading the credit rating of the USA for the first time ever (from AAA to AA+) and this, coupled with problems relating to financial stability across the Eurozone, triggered huge falls on stock markets throughout the world.

Assessing The Comparative Effectiveness Of Teaching Undergraduate Intermediate Accounting In The Online Classroom Format

This paper presents the results of a study assessing the comparative effectiveness of teaching an undergraduate intermediate accounting course in the online classroom format. Students in a large state university were offered an opportunity to complete the first course in intermediate accounting either online or on-campus. Students were required to complete several objective homework assignments and write an essay on what is means to be a professional. In addition, students were asked to report their progress in achieving seven stated objectives of the course. Students in the online course performed as well as students in the on-campus course.

The Impact of Pre- and Post-Lecture Quizzes on Performance in Intermediate Accounting II

The purpose of this paper is to report the results of an investigation of the impact of online quizzing on accounting majors’ examination performance in the second intermediate accounting course. Specifically, course sections with no quizzes, post-lecture quizzes, and a combination of pre- and post-lecture quizzes are compared. The data is based on 666 students completing Intermediate Accounting II at a large public university in the United States. Results suggest that using both pre- and post-lecture quizzes can lead to improved student preparation, increased student participation during class discussions, more effective use of lecture time, and significant improvement on students’ performance on subsequent examinations. Significant interactions between GPA and the presence of pre- and post-lecture quizzes indicate that the effectiveness of specific quiz formats is contingent upon student aptitude level. Students with low GPAs benefit more from the addition of post-lecture quizzes while students with higher GPAs benefit more from the addition of pre-lecture quizzes.

A Unique Sequence Of Financial Accounting Courses Featuring Team Teaching, Linked Courses, Challenging Assignments, And Instruments For Evaluation And Assessment

The Department of Accounting at California State University Northridge (CSUN) has developed a unique sequence of courses designed to ensure that accounting students are trained not only in technical accounting, but also acquire critical thinking, research and communication skills. The courses have proven effective and have embedded assessment measures that are used to evaluate and document student progress. The assessment measures also provide feedback to faculty and have led to numerous improvements over time. The Intermediate Accounting Sequence begins with a one (semester) unit bridge course that reviews the lower-division accounting material, introduces intermediate accounting concepts, and provides a base measure of students communication skills through a writing assignment. The next three-unit intermediate accounting course (ACCT351) is linked with a two-unit accounting communication course (351COM). These linked courses share unstructured case assignments written by the accounting faculty that require students to identify the accounting issue(s), research the authoritative literature in GAAP, and write a professional one-page document for each case that demonstrates critical thinking and appropriate documentation. The structure of the linked courses is based on team work, and has the indirect benefit of promoting collegiality among faculty and fostering a culture of critical thinking throughout the accounting program. The skills acquired in 351/351COM are reinforced in subsequent courses through the use of similar assignments and evaluation and assessment

Book Reviews

Book Reviews

A Series of Revenue Recognition Research Cases Using the Codification

ABSTRACTThis series of four short cases is designed to help students develop the skills to research the Financial Accounting Standards Board's (FASB) Accounting Standards Codification and other authoritative literature. It also is designed to help improve students' ability to analyze and critique the complex issues that often surround the accounting for revenue recognition. The case scenarios describe transactions in which students must decide whether, when, and how much revenue to recognize. The issues analyzed involve bill-and-hold, multiple-element arrangements, gross versus net revenue reporting, and sales incentives. The cases are also designed to improve teamwork and communication skills. The sequence of cases is intended for use in an intermediate accounting class that covers revenue recognition, or in a capstone class that emphasizes critical thinking and research skills.

Exam 2 Strategy

After students take their first exam in an accounting course, tax accounting and intermediate accounting in this case, their reactions to their test scores may be varied. This is their first major assessment of how they have performed in the class. The students in the class near the high end of the grading scale are going to be satisfied with their score. Yet the overwhelming majority of students should be thinking about how they can do better on the next exam or an Exam 2 strategy. This paper describes a process which allows students to develop a strategy or action plan for their next exam. This process provides students a way to earn bonus points while developing their communication skills and showcasing their writing skills in a convenient electronic forum. Thus students develop their own strategy and benefit by considering the collective wisdom of the top ten strategies posted on the course web site. Detailed instructions are provided below to implement an Exam 2 strategy assignment which provides students an action plan to better their next exam scores.

Saks And The Unholy Trinity: Vendors, The Securities And Exchange Commission, And The Hedge Fund

This paper reports on the use of an unstructured case to teach and assess research, critical thinking, and communication skills in Intermediate Accounting classes. It includes a case specifically prepared for this purpose (an imbedded course measure) and a generic critical thinking assessment form that was customized for this assignment. This assessment process meets AACSB accreditation requirements. Students satisfactorily determined relevant facts, identified the accounting issues, and supported solutions. However, they did not satisfactorily research the authoritative literature or identify appropriate solutions.

Star Enterprises Inc: Getting Control of Your Fixed Assets

Investment in fixed assets constitutes the largest part of the asset side of the balance sheet. This paper looks at the processes to create, purchase, manage, and evaluate the value and effectiveness of fixed assets using an SAP R/3 Resource Planning System. The case can be used to discuss a variety of issues associated with Asset accounting. This case is appropriate for an undergraduate course in accounting informational systems and/or intermediate accounting. The case does require access to an SAP R/3 server, and some knowledge of how to navigate the SAP R/3 system. The scenario uses the current version (ECC6.0) of SAP available to members of the SAP University Alliance.

Introducing Forensic Accounting In The Intermediate Accounting Class

Students are introduced to the variety of accounting careers in their financial accounting courses. By the time students select a major, they begin to focus on career options. Students often find themselves fascinated whenever any area of forensic accounting is discussed. This paper provides a brief overview of forensic accounting as well as a case that can be useful in the intermediate accounting class to highlight the role of the forensic accountant.

Introduction To Compilation Services As A Reinforcement Of Basic Accounting Concepts For Intermediate Accounting Students

According to a recent survey of accounting firms in 2008, Compilation and write-up services make up 23% of accounting firm billing for small firms with less than $1 Million in fee billings and 14% overall for all types of firms (Anonymous 2008), yet accounting students are rarely exposed to these services in their accounting academic experience. This comprehensive case gives students an opportunity to develop proficiencies in providing accounting compilation and write-up services to small business clients. Specifically, the goals of the case are to help students review the steps of the accounting cycle, understand how each of the four basic financial statements are inter-related, improve their ability to prepare financial statements and related disclosures, and enhance their spreadsheet skills. This case has been classroom tested and is appropriate for an intermediate accounting; honors introduction financial accounting course; or an accounting information systems course.

Pengaruh Gender Dan Muatan Etika Dalam Pengajaran Akuntansi Keuangan Pada Persepsi Etika Mahasiswa

This research is an experimental research which is conducted to examine the effect of gender and ethics toward ethical perceptions for accounting students. 
 The objects of this research were students who were taking intermediate accounting class at Multimedia Nusantara University and Bakrie University. For the data analysis techniques, validity of data was analyzed by using Confirmatory Factor test analysis (CFA), the reliability test data was analyzed by using the Cronbach Alpha Coefficient (α), and hypothesis tests was analyzed by using simple regression (Simple Regression).
 All of the data used in this research are valid and reliable. The classical assumption test was done before the hypothesis test was analyzed. From the results of hypothesis testing, Ha1 was rejected which means that gender variables cannot be used to predict the perception of ethics and Ha2 was rejected which means that charges of ethics cannot be used to predict the perception of ethics.
 Keywords: gender, ethics, perception of ethics

Ruckman, Inc.: Converting from U.S. GAAP to IFRS

ABSTRACT This case is designed as a comprehensive review of significant differences between accounting principles generally accepted in the United States of America (U.S. GAAP) and International Financial Reporting Standards (IFRS) for specific topics covered during most Intermediate Accounting courses. The task requires you to analyze and evaluate a company's significant accounting policies for compliance with IFRS as you plan and conduct the conversion of a firm's financial statements from U.S. GAAP to IFRS. The skills developed throughout this case are currently in high demand as IFRS is quickly becoming the global norm in accounting standards and many multinational companies based in the U.S. are already affected by these standards. The Securities and Exchange Commission (SEC) has developed a roadmap that may require U.S. companies to begin adopting IFRS in 2015. You will be tested on your knowledge of IFRS on the CPA exam. The case is presented in two phases, allowing you to experience the conversion process from planning to execution.

Summaries of Books Intermediate Accounting Contemporary Vision

Summaries of Books Intermediate Accounting Contemporary Vision

Report of the Scientific Field Survey on Lake Hovsgol and its Tributaries

The present report gives an intermediate account of a collaborative research work at the Lake Hovsgol. The fi eld survey took place from 9 August – 16 August, 2009 and covered sampling stations as follows, 15 stations at the Lake Hovsgol, 1 station on the Khar Us River, 1 station on the Egiin Gol River.DOI: http://dx.doi.org/10.5564/pmas.v0i4.53Proceedings of the Mongolian Academy of Sciences 2009 No.4 pp.101-102