Accounting Measurement and Disclosure
1. Course Description and Objective
Measurement and disclosure are the focus of financial accounting theory. In modern business, accounting methods are used to measure the economic position and the economic performance of a business entity. As such, accounting is merely the science of measurement. We will start by looking at issues related to measurement and disclosure in a context neutral setting. The course is intended to develop a foundation for thinking about measurement so that students can not only learn the nuts and bolts of accounting, but also build an intuition for measurement that allows students to evaluate current measures and develop measures that are both relevant and reliable to decision makers.
2. Course Content and Schedule
This course will cover most part of intermediate financial accounting, including financial statements, revenue, receivables, inventory, long-term tangible assets and intangible assets. We will discuss the application of US GAAP, IFRS and Chinese Accounting Standards, but our focus would be the conceptual framework and accounting theory. Please see the attached course calendar of 2014 fall for details.
3. Teaching Method
Cases provide a realistic setting in which to apply concepts of measurement and disclosure. This course consists of cases to be prepared prior to class and cases (called a Case Blitz) to be prepared during class. To prepare for case sessions, students must read the case and, guided by the assignment questions, prepare an analysis of the case. Assigned computations will be reviewed during the class discussions. Cases often have more than one defensible solution.
A professional contract will be signed by all students at the beginning of the course, which requires class contribution and professional activities. The classroom portion includes preparation, integrity, respect for others, participation, promptness and performance in group activities. Class participation grading criteria along with a self-evaluation form will be filled and submitted twice in this course. Professional activities portion includes professional learning and professional service, which would be recorded and evaluated at the end of the term.
- Professionalism 10% (self-evaluation)
- Group homework 4%
- Individual homework 8%
- Case Blitz assignment 3%
- Group presentations 25%（Peer review）
- Problem sets 10%
- Three exams: 2 in-class 10% each, and a comprehensive final exam 20%
*Students can earn up to 2% as extra credit
5. Text and Materials
Intermediate Accounting: Reporting and Analysis by Wahlen, Jones, and Pagach, First Edition by South-Western.
Cases： UIUC ACCY 301packet, FASB codification, Deloitte case
6. Useful Website
Web-based communication through QQ
7. Evaluations by Students
2014-2015 Accounting Measurement and Disclosure: 5.0
2013-2014 Financial Management：4.97
2013-2014 International Accounting：4.89
2012-2013 Financial Management: 4.92