printer friendly pageACCT 210: Financial Accounting
In general terms, financial accounting is the measurement of economic activity for decision-making. Financial statements are a key product of this measurement process and an important component of firms' financial reporting activities. In the past few years, financial accounting came to the forefront of the national consciousness as the stock market continued to decline amid faltering investor confidence. The crisis of confidence began with the revelation of accounting irregularities at some of the United States largest companies. However, the implications extended well beyond the effects of individual accounting or company failures: investors seemed to lose confidence in the integrity of the financial system as a whole. The capital markets, whose relative efficiency is based largely on the timely dissemination of relevant and reliable financial information, were at risk. Clearly, the importance of understanding accounting has never been so salient. The objective of this course is not to train you to become an accountant but rather to help you develop into an informed user of financial statement information. While financial statement users face a wide variety of decisions, they are often interested in understanding the implications of financial statement information for the future cash flows and earnings potential of a firm. We will focus on understanding the mapping between underlying economic events and financial statements, and on understanding how this mapping affects inferences about future profitability. Because annual reports are somewhat formidable, we will spend time familiarizing ourselves with how firms present the information for various accounts in the financial statements, including the footnotes. We also will discuss the role of the various institutions involved in the reporting process. By understanding the environment in which financial reporting takes place you will be in a better position to evaluate critically the disclosures made by firms in published financial statements. The following learning objectives will be emphasized: (1) familiarity with the transactions businesses engage in, (2) fluency in accounting terminology, (3) understanding the structure that maps transactions into accounting numbers, (4) understanding the rationale for various accounting methods, and (5) awareness of the judgment involved and the discretion allowed in choosing accounting methods, making estimates, and disclosing information in financial statements.
Units: 4
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Grading: GSB Letter Graded
Instructors:
Beyer, A. (PI)
ACCT 213: Financial Accounting - Accelerated
This course develops students' ability to read, understand, and use corporate financial statements. The course is oriented toward the user of financial accounting data (rather than the preparer) and emphasizes the reconstruction and interpretation of economic events from published accounting reports. The course is geared toward students with some familiarity in dealing with financial statement information and allows for deeper coverage and discussion in class.
Units: 4
|
Grading: GSB Letter Graded
Instructors:
Kasznik, R. (PI)
ACCT 219: Sloan: Accounting
A characteristic of business is the extensive use of accounting data. The financial accounting course has the general objective of developing students' understanding of the nature, scope, and limitations of accounting information. To achieve this objective the course attempts to: (1) develop students' understanding of the conceptual accounting framework, including the objectives of financial reporting, and (2) develop students' ability to understand and critically evaluate the financial disclosures made by corporations. An issue of particular interest will be the managerial incentive aspects of accounting information and disclosures.
Units: 4
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Grading: GSB Letter Graded
Instructors:
Guttman, I. (PI)
ACCT 311: Global Financial Reporting
This course is designed to enhance students' understanding of current financial reporting issues through a detailed analysis and comparison of U.S. and International Financial Reporting Standards. The course will cover the development of accounting standards, implementation of these standards, and how to interpret output from these standards. The course highlights intermediate and advanced financial reporting topics including fair value accounting, asset securitization, consolidation including special purpose entities, foreign currency translation, derivatives and hedging, leases, revenue recognition, pensions, and equity compensation. The course also focuses on evaluating emerging financial reporting issues such as proposed financial reporting standards put forth by U.S. or international standard setting bodies. This course should help students better understand the environment governing global financial reporting and how firms develop financial statement information within this environment.
Units: 4
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Grading: GSB Letter Graded
Instructors:
Barth, M. (PI)
;
Blankespoor, E. (SI)
ACCT 332: Mergers and Acquisitions: Accounting, Regulatory, and Governance Issues
This course covers various financial and economic issues related to mergers and acquisitions. For example, we review the financial reporting implications of business combinations (e.g., consolidation, the "acquisition" method), and income tax treatments of M&A transactions (e.g., taxable vs. non-taxable deals). We also examine corporate governance issues related to firms' decision to acquire or be acquired, the M&A regulatory environment (e.g., anti-trust), and other factors that can potentially shape the structure of M&A transactions. In covering these and other related issues, we will discuss both the theory and practice of mergers and acquisitions. To provide some specific context we will analyze specific M&A deals (e.g., the mergers of HP/Compaq, UpJohn/Pharmacia, and AOL/Time Warner; Oracle's hostlie takeover of PeopleSoft; and many more). In discussing these cases, we will examine the situation faced by the company, the issues surrounding the transaction, including the financial reporting implications, and focus on the managerial incentives and the judgment applied. We will also discuss some of the important strategies that underlay a successful negotiation. We will also review some of the related literatures in accounting, economic, and finance, to gain broader perspectives and insights into the financial issues associated with M&A transactions. Class time comprises mini lectures that introduce some of the more technical concepts, case discussions, and guest speakers who will offer additional perspectives on the subject matters. The course is co-taught by Ron Kasznik (GSB) and Safra Catz (Oracle Corporation). Ms. Catz is President of Oracle and a member of its Board of Directors. She has led Oracle through more than 50 acquisitions in recent years (including PeopleSoft, Siebel, BEA, and Sun Microsystems). Prior to joining Oracle in 1999, Ms. Catz was Managing Director at Donaldson, Lufkin & Jenrette, a global investment bank (now part of CSFB). Ms. Catz also serves on the board of directors for HSBC Holdings plc since 2008.
Units: 4
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Grading: GSB Letter Graded
Instructors:
Kasznik, R. (PI)
;
Catz, S. (SI)
ACCT 340: Alphanomics: Informational Arbitrage in Equity Markets
This is an advanced elective course on the economics of active investing in equity markets. The 2012-13 version of this class will be offered in two parts: A 4-credit class for the Fall quarter (
ACCT340), and a 2-credit class for the Spring quarter (
ACCT541). If you sign up for the Fall class, your spot on the Spring roster will be automatically reserved. However, you will still have the option at the end of the Fall quarter to opt out of the 2-credit Spring class. The Fall course (
ACCT340) is designed as a "start-up kit for an equity hedge fund." In the Fall quarter, we will cover some of the foundational skills needed to build and manage a portfolio of public stocks. There is no final exam. However, there will be a number of individual cases and a final group project. 25% of the grade will be based on class participation, and 75% will be based on cases and projects. Towards the end of Fall, student who choose to continue onto the Spring course (
ACCT541) will form teams (of 4 to 6 each) and submit a proposal for a hedge fund product. Once their proposal is approved, each team will be given a $1 million paper portfolio. Students then manage this portfolio for the rest of the school year (their trades and portfolio statistics are automatically tracked). Students enrolled in the Spring (
ACCT541) will reconvene in the second half of the quarter for a series of class lectures/talks as well as team presentations, summarizing their experience. The ACCT541 portion of the course will require each student group to make a class presentation, as well as turn in a written report. A separate grade will be assigned for
ACCT541. 25% of this grade will be based on class participation, and 75% will be based on the presentations and reports. The overall goal of this course is to improve student skills in assessing the relative attractiveness of individual companies, as well as in managing portfolio risk according to pre-specified targets. This is a hands-on course with an emphasis on experiential learning. Students will make extensive use of analytical tools in the new "Real-time Analytics and Investment Lab" (High-speed R.A.I.L.) facility in the Bass Center. As part of this course, students will design stock screens, conduct back-tests, do detailed company analyses, execute (virtual) trades, and manage portfolio risk. Because it is an advanced elective, students taking this class are expected to be well versed in core economic, accounting, and finance skills. Material covered in a second Financial Modeling course, as well as in Accounting 312 (Evaluating Financial Statement Information) and Accounting 313 (Accounting-based Valuation) will come in handy. However, none of these courses are required.
Units: 4
|
Grading: GSB Letter Graded
Instructors:
Lee, C. (PI)
ACCT 518: Analysis and Valuation of Emerging Market Firms
The course is designed to introduce students to the unique institutional, corporate governance and transparency issues facing managers and investors in emerging economies, and the impact these issues have on assessment of firm performance and value. The goal of the class is to gain an understanding of how country-level institutional forces interact with firm-level factors to shape firm value in these countries, how to interpret published financial reports in this environment to identify the source of firm-level value creation, and to use your assessment of the firm to identify the primitive sources of the firm's risks and opportunities. Topics covered will include an assessment of related party transactions, importance of political factors and social networks, governance conflicts, and the risk of expropriation. Students will be expected to: (1) make one presentation (most likely as a part of a two-to-three person group) that explores the valuation and value drivers of a specific emerging market firm and (2) attend all four classes. Grades will be on a pass/fail basis. Professor Piotroski teaches the "Accounting-based Valuation" and "Valuation in Emerging Economies" courses at the GSB.
Units: 1
|
Grading: GSB Pass/Fail
Instructors:
Piotroski, J. (PI)
ACCT 523: Board Governance
This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as private-equity or venture investors, entrepreneurs who will need to assemble and manage boards, and executives who realize they will need to interact with and answer to boards. The course is designed to help students understand the issues boards face ? both routine and non-routine ? through the eyes of the board member. By understanding the roles and responsibilities of board members and the mechanisms though which they exercise these duties, students will come away with an understanding of how boards function effectively (and in too many cases fail to function effectively). The course will include examining boards in a variety of corporate contexts including: public and private, large and small, for-profit and not-for profit.
Units: 2
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Grading: GSB Student Option LTR/PF
Instructors:
Larcker, D. (PI)
;
Donatiello, N. (SI)
ACCT 691: PhD Directed Reading (FINANCE 691, GSBGEN 691, HRMGT 691, MGTECON 691, MKTG 691, OB 691, OIT 691, POLECON 691, STRAMGT 691)
This course is offered for students requiring specialized training in an area not covered by existing courses. To register, a student must obtain permission from the faculty member who is willing to supervise the reading.
Units: 1-15
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Repeatable for credit
|
Grading: GSB Pass/Fail
Instructors:
Barth, M. (PI)
;
Beyer, A. (PI)
;
Blankespoor, E. (PI)
;
Foster, G. (PI)
...
more instructors for ACCT 691 »
Instructors:
Barth, M. (PI)
;
Beyer, A. (PI)
;
Blankespoor, E. (PI)
;
Foster, G. (PI)
;
Guttman, I. (PI)
;
Kasznik, R. (PI)
;
Larcker, D. (PI)
;
Lee, C. (PI)
;
Marinovic Vial, I. (PI)
;
McNichols, M. (PI)
;
Piotroski, J. (PI)
;
Rajan, M. (PI)
;
Reichelstein, S. (PI)
ACCT 692: PhD Dissertation Research (FINANCE 692, GSBGEN 692, HRMGT 692, MGTECON 692, MKTG 692, OB 692, OIT 692, POLECON 692, STRAMGT 692)
This course is elected as soon as a student is ready to begin research for the dissertation, usually shortly after admission to candidacy. To register, a student must obtain permission from the faculty member who is willing to supervise the research.
Units: 1-15
|
Repeatable for credit
|
Grading: GSB Pass/Fail
Instructors:
Barth, M. (PI)
;
Beyer, A. (PI)
;
Blankespoor, E. (PI)
;
Foster, G. (PI)
...
more instructors for ACCT 692 »
Instructors:
Barth, M. (PI)
;
Beyer, A. (PI)
;
Blankespoor, E. (PI)
;
Foster, G. (PI)
;
Guttman, I. (PI)
;
Kasznik, R. (PI)
;
Larcker, D. (PI)
;
Lee, C. (PI)
;
Marinovic Vial, I. (PI)
;
McNichols, M. (PI)
;
Piotroski, J. (PI)
;
Rajan, M. (PI)
;
Reichelstein, S. (PI)
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