New Bookmarks
Year 2000 Quarter 3:  July 1-September 30 Additions to Bob Jensen's Bookmarks
Bob Jensen at Trinity University

You can change the viewing size of fonts by clicking on the View menu item in your browser.
For the July 1-September 20, 2000 Additions and Summaries scroll down this document 
For the other editions go to
For the full set of Bob Jensen's Bookmarks go to
    (The full set is never up to date with the latest additions to my New Bookmarks.)

Click here to go to Bob Jensen's home page

Choose a Date for Additions to the Bookmarks File

September 26, 2000     September 20, 2000     September 12, 2000     September 5, 2000   

August 29, 2000           August 22, 2000           August 9, 2000

July 26, 2000               July 19, 2000                July 12, 2000                July 5, 2000   

For the other editions of my New Bookmarks go to

Click here to search Bob Jensen's web site if you have key words to enter --- Search Site.
This search engine may get you some hits from other professors at Trinity University included with Bob Jensen's documents, but this may be to your benefit.  Another search engine that covers Trinity and other universities is at

September 26, 2000

Quotes of the Week:  

Budget --- an accounting system for going broke more methodically.

Don't use a big word where a diminutive one will suffice.

Every morning is the dawn of a new error (that's for sure if you are writing FAS 133 cases)

Technology for calm and quiet --- a phoneless cord.

I can see clearly since my brain was removed.

I used up all my sick days, so now I'm calling in dead.

Mental floss prevents moral decay.

There cannot be any crisis today ---  my schedule is full.

A conclusion is simply a place where you got tired of thinking.

I don't have a solution, but I admire the problem.

It's not hard to meet expenses, because they're everywhere.

The wise man knows how little he knows;
It is a foolish person who imagines he knows everything.

A Tribute to Jean Heck and "his" Academy of Business Education --- 

Dr. Heck is one of the most amazing workers that I've ever encountered.  In addition to teaching, research, and service responsibilities of a full-time professor of finance at Villanova University, he is the co-author responsible for most revisions of a finance textbook and editor of two journals.  In addition, he manages to devote a minimum of four hours a day updating literature databases, most notably a database on economics literature.  

About a year ago, Jean single-handedly formed a new multi-discipline academic association called The Academy of Business Education.  There must have been a need for such an association, because within a matter of months there were over 500 dues-paying members of the Academy.  The Academy now has a new journal (The Journal of the Academy of Business Education) and held the first ABE annual meeting in Bermuda last week.  We were going to meet at Bermuda College, but the number of pre-registered participants exceeded the capacity of Bermuda College for such an event.  Jean managed to shift us to the Southampton Princess Hotel.  Over 200 papers were submitted for the first meeting.  During the first year, Jean's success in incorporating the ABE, serving as the first editor of the JABE, refereeing the journal submissions, refereeing the annual meeting submissions, and tending to virtually all details of the Academy and its first annual meeting is mind boggling.  Jean not only did all this, he did it very well with virtually no help (my title of ABE Vice President in Accounting has been a ceremonial title in that it did not entail any work other than attending the first Board meeting last week).

Next year, Jean has already lined up our second annual meeting site (around the third week in September) at a ski lodge near Jackson Hole in the Grand Teton Mountains.  Since the lodge only has 200 rooms available, participants should think about getting reservations in early.  Managers of the lodge warned us that we will be there during the mating season of the moose (mooses?). I'm not sure what this means, but apparently the lodge will be surrounded by large four-legged beasts making lots of testosterone-inspired calls of the wild.

I think the program for the first ABE meeting was excellent.  In the sessions that I managed to attend, all the presentations were very informative.  It was only possible to attend some of the many sessions since I could not be two places at the same time.  A few of the programs I chose to attend are mentioned below:

You can view the complete program with abstracts at 
The proceedings will be available online whenever our working dynamo, Jean Heck, gets all that work done.

WOW Professor of the Week

At the first annual meeting of the new Academy of Business Education last week, I listened to a number of outstanding presentations. One in particular that I would like to mention to you was presented by the Head of the Department of Marketing & Management at Texas A&M University. His name is John Parnell. For two semesters, John has been delivering an online business strategy course for students at Monterrey Tech (ITESM). This may evolve into an entire Texas A&M degree program at both Monterrey and across Mexico in general.

One link of possible interest is 

If any of you want a copy of Professor Parnell's paper, his email address is 
An excerpt is quoted below:

The course considered in the present study was structured to utilize three weekend professorial visits (i.e., Friday evening and Saturday) to campus in one term and four in another (see exhibits one and two). Weekend visits were typically spaced two or three weeks apart. In total, approximately fifteen hours was utilized in each term for delivery of strategic management concepts; the remainder of the time was devoted to preparation and ultimate presentation of group case projects. Students were enrolled in the graduate program at the Ciudad de Mexico campus of Instituto Tecnologico Y De Estudios Superiores De Monterrey (ITESM). Facilities at the institution, including internet access, were excellent.

Students were allowed to form their own groups of three to four students. Each group selected a company from a list of instructor-approved publicly traded American companies to strategically analyze as its group project. The case analysis was the major assignment in the course, accounting for 35 percent of the overall grade. Because of the wealth of information available on the internet and the potential research difficulties for ITESM students, links to an extensive array of on-line sources (e.g., Hoover's for financial data, Wall Street Journal Interactive Edition (WSJIE), Lexis-Nexis, etc.) were provided so that students could complete all of the case research via the internet.

Students were also required to participate in on-line class discussions with graduate students taking a strategic management course at an American institution. In these discussions, students were free to post views on a variety of topics and current issues related to strategy formulation, implementation, and the international environment. Specifically, students were encouraged to comment on articles from the WSJIE and other sources, and to participate in discussions begun by others students or the professor.


The two classes considered in the present study had fifteen and twelve students respectively. Each student chose to pursue the course under the weekend format in English instead of taking it with a local professor on a one-night-per-week basis. There is no indication that students in the course differed from those in other sections, except that marginal English speakers would not have chosen to take the course in English.

At the end of each course, students completed a brief, anonymous survey containing three questions: · If you had the opportunity to take the course again, would you choose the same section? (yes/no/maybe) · How would you evaluate the internet component of the course? (strong/moderate/weak) · How would you evaluate the weekend structure of the course? (strong/moderate/weak) In addition, students were allowed to provide specific written comments.

None of the students stated that they would not take the same section. Twenty-three students (85 percent) stated that they would, while the remaining four (15 percent) chose the "maybe" response.

The internet component of the course was evaluated as "strong" by 25 of the 27 students (93 percent), while the other two (7 percent) evaluated it as "moderate." Twenty of the students (74 percent) evaluated the weekend structure as "strong," whereas the remaining seven (26 percent) evaluated it as "moderate." Written comments by those in the latter group suggested that some would have selected different combinations of dates for the visits to campus.

Student participation on the bulletin board was commendable, in many cases providing a rich, international perspective to the topics and issues presented by their American counterparts. One of the unintended and positive outcomes of the experience was that the Mexican graduate students were able to learn from those at the American institution-which included Americans as well as students from several other countries-and vice versa. These two groups would never have connected outside of the bulletin board experience.

Project quality was excellent in most cases. Students were able to secure from the internet more than enough objective and subjective information to complete their projects. From a research perspective, the quality of the internet research was vastly superior to traditional forms of case research, and would be appropriate to traditional classes as well.


Internet delivery in the international arena appears to be growing exponentially, but remains in its nascent stage of development. The use of the internet to address the tremendous international market opportunity is both logical and promising for universities and faculty equipped to do so. Several fundamental questions must be addressed, however.

First, does the host institution and faculty member possess the technical expertise-including appropriate support-to utilize the internet for delivery of instruction? Faculty members must understand the basics of web page creation and/or possess the university support necessary to post materials, change them as needed, and address any technical support issues raised by the learners. Delivery of courses via the web also necessitates that faculty members "buy in" to a nontraditional model of education, whereby the faculty member becomes the facilitator instead of the teacher.

Second, to what extent, if any, should the internet delivery be accompanied by face-to-face interaction? Is it desirable to require that learners travel to the host campus or the professor travel to the students? Face-to-face interaction provides a personal touch not easily secured in an on-line environment. Practitioners developing programs should consider that at least some personal contact may be warranted.

Third, should internet based discussions be synchronous or asynchronous? In other words, should students be required to "meet" on the internet at certain times so that class may convene electronically, or should the course be structured so that students can work when they choose? Under the former case, the internet can be used to simulate the classroom environment, and students can exchange ideas or "chat" in real time. Under the latter case, exchange of ideas is limited to e-mails and the bulletin board. Evidence from the present study suggests that the bulletin board is an effective as real time chat, and on-line meetings may not be necessary.

Fourth, how should students be evaluated? If there are no face-to-face meetings, verifiable "closed book" examinations may not be possible. Many internet classes have adopted a "portfolio" approach, where learners submit projects instead of exams. Others require that each student complete a proctored final exam.

Finally, how can outcomes in the internet-based environment be compared to those in the traditional classroom environment? Critics and accrediting agencies will desire evidence the former approach is essentially equivalent to the latter. Proponents may charge that quality in the internet-based environment is superior. At any rate, educators need to be prepared to assess the outcomes and address quality comparisons.

WOW Site of the WEEK --- Ucompass at

At a conference in Bermuda last week, I listened to a wonderful presentation by John Parnell (Head of the Department of Marketing and Management at Texas A&M University). After comparing Blackboard, WebCT, and other options, his program for distance education across Texas and into Mexico, he and his Texas A&M colleagues opted for a software from   

Especially note the "Uniqueness" section that is linked at  

I asked Dr. Parnell to comment on Ucompass.  He wrote back as follows on September 26, 2000:

Hi Bob,

Thank you for your e-mail and the write-up.

We selected uCompass because of the technical ability and extraordinary service commitment extended by its president, Ed Mansouri. uCompass is a small provider, so Ed is still very active in the day-to-day operations. The system is user-friendly, support is prompt, and Ed and his staff bend over backwards to meet our specific needs. We had originally narrowed down the choice to Blackboard and uCompass and invited presentions from both (individual, and then together on the same day). Most of us expected Blackboard to come out on top, but Ed's commitment to meeting our specific needs made the difference.

By the way, if Trinity is considering a partnership, I would strongly recommend uCompass.

If you have any additional questions, please let me know. Thanks again.


WOW Site of Last Week --- 

I will be making a presentation at Villanova this week. One focal point will be the Forest of Rhetoric.

I want to repeat the WOW site of last week, because it is now online (as of last week it was only available in hard copy).  The paper is entitled "The Portal's Progress: A Gateway for Access, Information, and Learning Communities," by David L. Eisler, Syllabus Magazine, September 2000.

This is important not only because of the article itself, but it is important because of the insert article entitled "Syllabus Case Study: The Forest of Rhetoric: A Learning Portal Stands Out in its Field."   This "Case Study" illustrates how knowledge portals should be authored.  

It all started, as Dr. Gideon Burton puts it, "innocently enough." A professor and scholar of rhetoric at Brigham Young University, Burton originally turned to Web pages and the hyperlinking of data as a way to make notes to himself, to organize the vast terminology of historical rhetoric from antiquity to the Renaissance. Three years later, Burton has added another dimension to his role of scholar-professor --- he is now Web master of a widely known and award-winning discipline portal on rhetoric: Silva Rhetoricae: The Forest of Rhetoric.

The development of Burton's portal was also, in part, an outgrowth of his effort to improve his teaching, making an extremely complex subject easier for his students to grasp. Like educators everywhere, he had printed handouts of definitions and explanations, but still the terminology was confusing and overwhelming to his students. This struggle with the terminology seemed to be obscuring the primary functions of the larger field of rhetoric-not being able to see the forest for the trees. This would eventually become a metaphor for the Silva portal, where the "forest," "trees," and "flowers" of rhetoric inhabit separate frames on the same screen.

Burton himself had appreciated the simple charts of "rhetoric in a nutshell" provided by Edward Corbett's Classical Rhetoric for the Modern Student, and used this print model as a starting point for his Web site. He discovered that the Web environment could accommodate both the simplicity of Corbett's visual as well as the details of rhetorical terminology. "Through hyperlinks," Burton explains, "a reader could travel readily back and forth between the overview (forest), and the details (trees)."

Burton discovered that the multi-frame ability of the Web was actually superior to print media for organizing material simply. Web page organizational capabilities, he says, "accommodate well an esoteric subject and make it more accessible" to multiple audiences. Thus, when colleagues at academic conferences asked for more scholarly details and sources, Burton integrated a scholarly apparatus to accompany the more general information. While Silva is still simply organized, each frame addresses a different set of learning needs, a different audience. The frame on the left, trees, includes a limited set of choices and encourages the reader to "stay here so you won't be overwhelmed." The frame on the right includes a more daunting list of rhetorical terms; when a reader clicks on one entry, the term's home page comes into the center frame and includes comparative Greek, Latin, and English terms; etymologies; and the Greek in its original alphabet. At the bottom of every page appear citations to the primary texts where the particular term is defined or discussed.

"Though Web-based scholarship remains an oxymoron for many," Burton confides, this collegial interest in Silva resulted in his taking his Web site "more seriously as a scholarly endeavor precisely because others began to do so." Today, he comments, "my academic Web site has complemented and supplemented the professional meetings I regularly attend." For instance, a professor of Russian at the University of Tartu in Estonia employs Silva in teaching Russian stylistics and has, with Burton's permission, translated the site into Russian at a mirror site.

Rewarding to Burton is evidence that his work has had an impact on students. "That I succeeded in reaching students is apparent not only in my own teaching," he says, "but in the fact that secondary and elementary schools have recommended Silva Rhetoricae: The Forest of Rhetoric as a resource. In September of 1997 the site received the Wise Owl Web award 'in recognition of exemplary design and educational excellence.'" Are Burton's students impressed by his Web expertise? He pauses to consider. "I know students are often more computer-knowledgeable than their teachers these days," he says. "Does the site make them think I'm hip? I hope so."

For more information on the Forest of Rhetoric, go to 

If you really want to see flashers (from Wired News on September 26, 2000)

Time for another dose of fantastic Flash action. Take a look at and Mighty Assembly  

Barnes & Nobel University (Free Online Courses With Live Instructors) --- 

Two example messages from students to their B&N University instructors:

Author: ClarenceD 

Thank you for teaching the course. I took Shakespeare when I was an undergrad. I found that studying this course online was more beneficial than listening to a professor's lecture. Should you teach another course, I shall take it.

Improving Communication Skills... 
Author: Meetoo 
I applaud you Ms. Floyd. The course was enlightening and easy to follow. I believe the content will be an asset in all the daily interactions that I will encounter. I am thankful for your time and efforts in pulling the information together. I pray God's continued blessings on all that you do.

"Drexel Tames the 'Dragon'" (Dragon's Naturally Speaking that is) by Katie Dean in Wired News,1284,38918,00.html  

This year, students at Drexel University will no longer have to pull all-nighters while they frantically type up research papers.

They'll still have to write their papers, and maybe even well after midnight. But instead of enduring sore fingers, they can spend the wee hours dictating their carefully crafted sentences into a microphone.

Drexel is providing all of its students with voice-recognition software, which turns spoken word into on-screen text.

The school handed out copies of Dragon NaturallySpeaking Preferred 4.0 at freshman orientation Wednesday, and plans to distribute 20,000 copies to all its faculty, staff and students when they start fall classes next week.

"It's a continuation of providing what we think is the latest technology on a yearly basis," said John Bielec, vice president of information resources and technology at the school. "Voice recognition is certainly the next big wave in terms of applications."

Every year, students are given a free CD of several different software programs that are relevant to their schoolwork. This year, in addition to Dragon, the students received Norton Anti-Virus software as well as Microsoft Office and various shareware and freeware.

Both school officials and Dragon representatives said that the software will save time and increase productivity.

Thank you Steve

Below is something that might make a good entry into your Technology Glossary. (Text below from What Ever since I got a DSL line I have been unable to log onto Temple University's primary mail server. I receive an abrupt and annoying message "The TCP/IP connection was unexpectedly terminated by the server." It happens that Temple has security procedure in place for this server that traces my IP address back to my ISP to verify my name when I try to log on to get my mail. However, my ISP uses a newer system called "Reverse Address Resolution Protocol" (RARP), which does not keep a list of names on a name server for immediate verification. (Maintaining an up-to-date list of client names on a name server apparently is an expensive, labor-intensive process.) I doubt if my ISP is the only one using this technology. This is an interesting clash of old fashioned security procedures and newer technology. 
Steve Fogg

Reverse Address Resolution Protocol

RARP (Reverse Address Resolution Protocol) is a protocol by which a physical machine in a local area network can request to learn its IP address from a gateway server's Address Resolution Protocol (Address Resolution Protocol) table or cache. A network administrator creates a table in a local area network's gateway router that maps the physical machine (or Media Access Control - MAC address) addresses to corresponding Internet Protocol addresses. When a new machine is set up, its RARP client program requests from the RARP server on the router to be sent its IP address. Assuming that an entry has been set up in the router table, the RARP server will return the IP address to the machine which can store it for future use. RARP is available for Ethernet, Fiber Distributed-Data Interface, and token ring LANs.

Stephen L. Fogg, Ph.D., CPA, 
Chair Department of Accounting Fox School of Business and Management
 Temple University Philadelphia, PA 19122 Phone: 215-204-1915 Fax: 215-204-5587 URL

My Technology Glossary is at 

The Complete History of the Discovery of Cinematography --- 

Forbes 400 Richest Americans (darn, I was overlooked again this year) 

Dear Mr. Jensen,

My colleague sent me information about your research and the information you provide related to Online Learning. We would appreciate the opportunity of introducing you to our course management system, The Learning Manager, used by higher education, K-12, and corporations throughout the world.

We are a Tier-1 Microsoft online learning partner and have been delivering distributed learning for 25+ years. Our initial product, LMS, was the most popular higher education system in the 80s. We have distributors located in Europe, Asia, Canada, Australia, and the United States.

We found that many higher education institutions switch to The Learning Manager because of the advanced assessment functionality supported by our integrated learning system. Developers of Chemistry, Math, Statistics and Science courses often incorporate calculations, variables, and random question generation into assessment. All of these features and more are part of The Learning Manager's integrated assessment component.

I've included a URL that will provide you with sample questions that a gentleman from a University here in the U.S. developed using variables, random question generation, and calculations. He developed these assessments on our server without any type of training. The Learning Manager version 3.0 is so intuitive that I developed several courses without training or documentation.

Please feel free to take a look!! 

Student ID: question Student Password: questions

As you access the course, be sure to click on the course map on the left side menu and select "view document" for a description of this module. Then, click "course map" on the left side again to go back to the course map. Next, click the first map item and select "take test." This will enable you to see sample questions developed for an electrical engineering course.

I've also attached a couple documents for your review. Please let me know if you would like to receive additional information.

Regards, Jeanne Griffin Business Development Manager

The Learning Manager 865-938-7922 865-938-7923 - fax

Educational Information on Credit Management 

Investor Education and Assistance 

Formosa: Nineteenth Century Images (history, photography) --- 

Professor Jensen - I subscribe to Fast Company magazine whose mission is "to chronicle how changing companies create and compete, to highlight new business practices, and to showcase the teams and individuals who are inventing the future and reinventing business." This month's web site contains two entries that I thought would interest you. The online pool concerning distance learning is especially fascinating.

Janet Flatley AVP-Controller 1st Fed S&L Assn Pt Angeles WA (360) 417-3104

FC:Learning <  > Sneak Preview In a global economy, global learning is imperative. UMichigan Business School Dean Joseph White believes distance learning will open the doors of the ivory tower to a worldwide audience in the next quarter century, educating a universal talent pool and bridging the digital divide. More </feature/jwhite.html>  

ONLINE POLL: The E-Learning Debate

Distance learning technology is:

Education's future and an important step to bridging the digital divide -- 61%

A waste of time that removes from teaching the crucial human touch -- 38%

"Distance-learning technology is only the enabler to learning. Companies will need to make the migration from 'podium to laptop' rapidly in order to remain competitive in the digital economy." -- Stephen D. Harris, Richmond, VA


I'd like to give you some information concerning what we are doing: ZIP Publishing has recently been posting free reports in the areas of Health & Fitness, Genetics and Business using the Rocket eBook System. We are now offering supplementary course material in a program called ZIP Rocket Notes which also uses the Rocket eBook System. ZIP Rocket Notes allows Professors to post electronic material through us which their students can download from our Web site: .

I'd like to propose that we each include a link to our respective Web sites-in a prominent place. Along with the link we have a paragraph defining our products and services:

Welcome to the world of electronic books and the Rocket eBook System! ZIP Publishing brings you free and low-cost books. Electronic ZIP Rocket Notes-course packs and material sold through University-area bookstores and downloaded from this site. Valuable links to bookstores, libraries, publishers and services for the electronic book user.

Please include this link and paragraph on your Web site.

We already have a link to your Web site on However, if you would compose a short paragraph (50 words or less), we will include this with the existing link.

Best wishes for continued success with your Web site.

Nick Petruzzella 
ZIP Publishing PHONE: (614) 263-0214 CELL: (614) 348-3225 FAX: (614) 263-0257 

You can read more about the advantages and disadvantages of e-Book publishing (including publishing that requires special hardware such a Rocket d-Books) at 

For Steve Zeff (Rice University) and others into both accounting/economic history and Holland --- Dutch National Accounts: 1800-1913 --- 

Confessions of a Record Producer --- 

Guide to E-Commerce 

HUD E-Maps --- 

BusinessWeb (with special emphasis on B2B news) 

The Kodak Girl Collection (history, photography) --- 

Encyclopedia of Corporate Governance 

A Journalist's Guide to Economic Terms 

Related glossaries --- 

The Living Room Candidate  (history, politics, television) 

Web Digest for Marketers (business, marketing) 

Kodak: Olympics 2000: Olympic History --- 

The Small and Home Based Business Library 

Handspeak: A Sign Language Dictionary --- 

September 24th edition of the Internet Essentials 2000 Newsletter 

1. XBRL Update: Slides and Commentary 
2. Duke, Princeton, Stanford, U of Michigan, UCLA and Others Say No to Blocking Napster 
3. XML Elevates Middleware to Global Player 
5. How Good is Your Company's Privacy Policy? 
6. XBRL LIVE: Tuesday, October 3 AccountingWeb 
7. XML NEWS! Live Feed for all News about XML All the XML you need to know, fresh stories daily.

For the Week of September 24, 2000

1. The Week's Top Accounting News 
2. A Free Service from Pro2Net and VerticalOne 
3. Feature Solutions Articles in Brief 
4. CPAs: Earn Free CPE Credit! 
5. Tip of the Week: Critical Tips On How To Improve Your Website 
6. Enter to Win a Single User Fixed Asset System

Pro2Net Accounting Students Newsletter  September 18, 2000

1. Pro2Net Marketplace Grand Opening! 
2. CPA Exam Tips: Allocate Your Study Time to Your Weak Areas 
3. Perfect Timing: Passing the CMA Exam 
4. Avoid the Credit Card Trap 
5. PwC, Andersen Accounting Professors' Favorite Firms

Forwarded by a colleague

Subject: Riding dead horses

Dakota tribal wisdom says that when you discover you are riding a dead horse, the best strategy is to dismount.

In business, however, it seems that we often try other strategies with dead horses, including the following:

1. Buying a stronger whip.

2. Changing riders.

3. Saying things like "This is the way we have always ridden this horse."

4. Appointing a committee to study the horse.

5. Arranging to visit other sites to see how they ride dead horses.

6. Increasing the standards for riding dead horses.

7. Appointing a tiger team to revive the dead horse.

8. Creating a training session to increase our riding ability.

9. Comparing the state of dead horses in today's environment over time.

10. Change the requirements to declare that "This horse is not dead."

11. Hire contractors to ride the dead horse.

12. Harnessing several dead horses together for increased speed.

13. Declare that "No horse is too dead to beat."

14. Providing additional funding to increase the horse's performance.

15. Do a CA Study to see if contractors can ride it cheaper.

16. Purchase a product to make dead horses run faster.

17. Declare the horse is "better, faster and cheaper" dead.

18. Form a quality circle to find uses for dead horses.

19. Revisit the performance requirements for horses.

20. Say this horse was procured with cost as an independent variable.

21. Promote the dead horse to a supervisory position.

Forwarded by David Stephens [StephensD@CBS.CURTIN.EDU.AU

"Welcome to the working world"

The following are designed as advice for graduating students. Origin unknown.

On SUCCESS - Success comes in CANS not CANNOTS.

PROGRESS - Be prepared to go anywhere as long as it's forward.

GOAL SETTING - Not reaching your goal isn't as dangerous as not having one.

FAILURE - Failure isn't falling down, it's staying there.

FOUL-UPS - Making mistakes isn't stupid* ignoring them is.

CRITICISM - If it had real power, the skunk would be extinct by now.

AVOIDING CRITICISM - It's easy* say nothing, do nothing, be nothing.

RECOGNITION - The best way to get credit is to try giving it to others.

DON'T GIVE UP - When you're being kicked from behind it means you're in front.

BEING CRITICAL - You can't sink the other person's end of the boat and keep your end afloat.

SELF ESTEEM - No one can make you feel inferior without your consent.

SMART is when you believe only half of what you hear.

BRILLIANT is when you know which half to believe.

ETHICS - Honesty is not only the best policy; it's rare enough to make you conspicuous.

WORK ETHIC - The best form of industrial action is a full day's work.

HARD WORK - If you find the going is easy, you could be going downhill.

EXERCISE - The only exercise some people get is jumping to conclusions, running down their peers, side-stepping responsibility and pushing their luck.

LEARNING - Learn from the mistakes of others: you won't live long enough to make them all yourself.

CHANGE is not made without inconvenience, even from worse to better.

MORE LEARNING - Asking a question may make you appear a fool for two minutes: not asking may make you a real fool forever. Put another way: worse than not knowing is being too smart to ask.

LEARNING THE HARD WAY - Reading the fine print may give you an education, not reading it will give you experience.

EXPERIENCE is a wonderful thing: it enables you to recognize a mistake when you make it again, but remember* EXPERIENCE is also a hard teacher: she gives you the test first and the lesson afterwards.

DIPLOMACY - Tact is the art of making a point without making an enemy. Conversely, there are times when the message has to be blunt so that you will see the point.

THE UNKNOWN - Never fear shadows. They simply mean there is a light somewhere nearby.

RESISTING CHANGE is like holding your breath - if you succeed, you die.

PROCRASTINATION is the thief of time. A procrastinator is one who puts off until tomorrow what he has already put off until today.

MEETINGS - When someone answers "That's a good question", you can be sure it's a lot better than the answer you're about to get.

THE BOSS - The person who know how will always have a job,,, the person who knows why will be the boss.

SUCKING UP - When two people in business always agree, one of them is unnecessary.

MONEY - You don't get paid for what you do, you get paid for what you get done.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on September 26, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


September 20, 2000

Quotes of the Week:  

"It is difficult to get a man to understand something when his salary depends on his not understanding it." - Upton Sinclair
As quoted in the bottom of email messages from Mark S. Eckman, AT&T, Financial Director

"I can only please one person a day. This may not be your day. Tomorrow doesn't look real good either."
Author unknown.

Forwarded by Debbie Bowling --- She spies on The Word Spy at 

cookie jar accounting (noun)

The corporate accounting practice of taking a reserve to reduce profits in good years and then using that reserve to increase profits in bad years.

"The SEC charged that Grace employed a 'cookie jar' accounting strategy that stashed as much as $20 million of excess profits at a time the company believed it would not be rewarded for beating financial expectations. The idea, according to the SEC, was to declare the profit at some later date when operations were not running so well in a process known as financial 'smoothing.'" --Steve Bailey and Steven Syre, "SEC files suit against W.R. Grace," The Boston Globe, December 23, 1998

See Also: fraud-u-Net, open-the-kimono

With that, Bob Jensen just had to check on "open-the-kimono"

To open a company's accounting books for inspection; to expose something previously hidden.

"Public companies also have much stricter rules of disclosure to potential investors. The company founder who used to keep his yearly salary a tight secret must reveal all when he goes public. 'You have to be prepared to open the kimono,' Meyers said." —George Hostetter, "Going public: Rewarding, dangerous," The Fresno Bee

133 Case Update Warning:  I had to revise my 133ex07a.xls file for a couple of types of errors.  The major error is the same error that Teets and Uhl made in their C.L. Smith and Sons case.  The error lies in discounting when valuing futures contracts (as opposed to forward contracts).  If you downloaded my 133ex07a.xls file prior to September 17, 2000, you should download a fresh copy from 

Since futures contracts are settled daily, a 0.0% discount rate should be used as illustrated in Example 7 of Appendix B in FAS 133 (although the FASB failed to test for cumulative hedged item cash flows using a non-zero discount rate in any of its FAS 133 examples).   Professor Walter Teets sent me the following email message concerning his changing of the original answers in the Teets and Uhl case entitled "C.L. Smith and Sons: Accounting for Futures Hedging Commodity Purchases and Sales" at

September 7, 2000
The error in our case is simply that the futures values (due to changes in either spot or futures prices) shouldn't be present valued, since there is daily settling up. But the (change in) values of the anticipated cash flows of the hedged item should be present valued, because there is usually no periodic settling of the cash flows associated with the hedged item. The change to the case is minor; the major point of the futures case is to show exclusion of the change in the difference between future and spot price from the determination of effectiveness. Present valuing the cash flow associated with the anticipated transaction, while not present valuing the futures (change in) value adds additional ineffectiveness to the hedging relation.

Walter Teets at Gonzaga University

Even though I illustrate both zero percent and non-zero percent discounting in my futures contract accounting cases, I added the above update warning to these cases.  My futures cases include the following:

My Request From Richard Campbell and Others in the World

I have been invited by University XXXXX to help them map out a strategy for an expanded distance education program. A couple of years ago, this university opted for WebCT. Faculty are not particularly happy with off-campus course delivery using WebCT. I have a limited amount of knowledge about software alternatives, but I would like some update information from users of software in present distance education courses. For openers, readers can check my document at 

I would also like to thank you for the lead on 
I was wondering which of the systems analyzed in the above comparative analysis you recommend and which software you would avoid. Since you are so experienced in software, I respect your opinions on such matters.

I am mainly wondering what software you and others would recommend that universities use for online delivery of both synchronous and asynchronous courses. Assume for the moment that software cost is not an issue. Think more in terms of features. For example, some features that instructors like include:

Email messaging that shows the message being typed rather than having to wait until it is completely typed and sent (this is a great feature in chat rooms.)

Is there any magical solution in a single package or will universities still have to patch together software from different vendors?

Do you have any recommendations about outsourcing the delivery with pros such as eCollege and CyberClass?

I will be in Bermuda the rest of the week (tough life), so if I do not respond quickly it is because I am out of the office. Next week, however, I would like to thread your response and the responses of others on this important issue.


Bob (Robert E.) Jensen
Jesse H. Jones Distinguished Professor of Business
Trinity University, San Antonio, TX 78212
Voice: (210) 999-7347 Fax: (210) 999-8134

The Wall Street Journal, September 18, 2000, p. B10
Net2Phone is switching strategies after concluding that long-distance calling is as cutthroat on the Internet as it is in the traditional off-line world.  --- 

Net2Phone made a splash three years ago by charging only pennies for long-distance phone calls made over the Internet. Today, it claims a 40% share of the small but growing market for Internet telephony, enough of a presence to have attracted a $1.4 billion, one-third stake from AT&T in March.

But the Internet telephony market is a crowded and unprofitable one, with 300 companies using price cuts to win customers and driving toll rates to as low as two cents a minute for domestic Internet calls. Net2Phone is expected to report a loss of $41.5 million for the fiscal year that ended July 31, on sales of $70 million.

While Internet toll charges now account for 95% of the company's business, Net2Phone executives hope to shrink that percentage to 50% within two years.

They also hope that 20% and 30% of their revenue by then will come from their new business line: telephone network management software for major carriers, like AT&T, which are moving more of their calling to the Internet. The software allows carriers to handle such common network management tasks as call routing and fraud detection.

A new-business unit, to be called Adir Technologies, will be formed with Cisco, and will be majority-owned by Net2Phone. It will sell the company's software along with Cisco's hardware.

Analysts said the move by Net2Phone was inevitable, considering that its earlier strategy, while attention-getting, wasn't sustainable.

"Every carrier in the world is reducing its rates," said Mark Winther, vice president of telecommunications services at International Data Corp., a Framingham, Mass., market-research firm.

Mr. Winther also warned that the move is a risky one. "It's a completely new business for them and there are a lot of companies offering this type of network management solution," he said.

The homepage for Net2Phone is at 


And a major competitor to Net2Phone is DialPad.  The following news was sent to me by DialPad 

Here are some of the new features to enhance your Dialpad experience! 
dialpadStore - Check out the latest e-products in our new store! 
Firewall Reflector - Use Dialpad at work or at home! 
PC-to-PC calling - Call your friends whenever they are on-line! 
Skins - Change the look and feel of your Dialpad applet!
Dialpad Agent - Launch Dialpad from your desktop!

WOW Website of the Week (as quoted from Yahoo's picks of the week)

A Force More Powerful: A Century of Nonviolent Conflict 

India 1930, Denmark 1940, Nashville 1960, Poland 1980, Chile 1983, and South Africa 1984 -- these were rare historical moments when people succeeded in using nonviolent means to achieve social and political change. This PBS companion to the TV series looks at the resistance movements of the 20th century, at leadership and tactics, and the essential philosophy of nonviolent conflict. Consider this arsenal of 198 methods of nonviolent protest and persuasion, a fascinating list that includes everything from rude gestures to street theatre, from haunting and taunting to hunger strikes, as well as many varieties of sit-in, teach-in, stay-in, walkout, and slowdown.

Important Download Noted by Neil Hannon at 

Tom Peter's (Slides) Rant: Talent!

Tom Peters Web site is a wealth of management information including several recent slide presentations given by Tom in recent seminars. His staff has compiled a special presentation of 74 slides focused on talent. Here is what the Web page has to say about Tom's slides:

We're thinking about talent because Tom has extracted 74 slides from his master presentation to create a "Talent Presentation." The first slide is a quote from Christopher Meyer's and Stan Davis' new book, FutureWealth. "When land was the scarce resource, nations battled over it. The same is happening now for talented people." That's the good news. If you're talented, you're in demand. The problem with the good news is that there's always bad news. And the bad news is that talent has got a short shelf life. David Maister, author of a number of books on professional service firms, writes in True Professionalism: The Courage to Care About Your People, Your Clients, and Your Career: "If all you work on is what you already know how to do, you'll eventually be overtaken by someone younger." Ouch. If you're not doing something new today, you're in trouble. Need a kick start? Start here with Tom's Talent Slides. 

New from Australia

Kerry politely asked me ahead of time if I would include some information about Australian authors.  I replied that I would be glad to do so for any vendor as long as it was in good taste.  The following website is most definitely in good taste.

Dear Bob, 
Many thanks for your response.

I trust that the following will be acceptable, and thank you for your kind consideration. 

Australian publishing site with links for new and emerging authors. 

Best Selling Titles
Merdeka Square
The Timor Man
The Fifth Season
Trilogy Set
Freedom Square
The Timor Man

New Titles
Coming Soon!
Human Stock
Rig Ship for Ultra Quiet
Falkenhayn Park
And So To Court
Passing on the Secret
of Saint Nicholas

Our Author Links
Kerry B. Collison
Paul S. Sochaczewski
Paul's Website
Sally Graham
Andy Karam
Tineke van Houdt
Jeanine D Lloyd
Vaughan Whitlock
Mary Anne Kamols

Worldwide Distributors
Autographed Books

New Authors
Click Here!

Hello Mr. Jensen,

I think you are someone who enjoys seeing all the interesting sites on the WWW - I know I am. The only reason I am sending this to you is because the "Electronic Resources Review" included in this weeks free access is a review of websites around the world. I don't have the means to search, but I would be surprised if your website wasn't included (that is how impressed I am with what you are doing). 

Scott Bonacker, 
CPA McCullough, 
Officer & Company, 
LLC Springfield, Missouri 

I (Bob Jensen) could not find any matches for "Bob Jensen."  I guess I'm a nobody!

Scott also added the following link:

Thank you! That was extremely useful. Are you a fan of old time country/western music?

I hope you will find the following link useful as well: 

(I hear the lobster is good)


Internet Statistics --- 

You can consult a techie or become a techie consultant at --- 

If you become a techie for, your first advice should be on how to speed up the loading of their home page (presently it takes forever and a day).

Welcome to Arzoo Beta! Please explore our site and preview our service:

1. ASK QUESTIONS Tap the knowledge of tech professionals and expert consultants from around the globe.

  2. ANSWER QUESTIONS Monetize your knowledge! From optical networking to IT support, your expertise is in demand.

3. BECOME AN ARZOO EXPERT - Register now as an Arzoo Technical Expert. If you have expertise in any of our dozens of tech categories, then you qualify to share your knowledge, earn money and ratings, and build up a great reputation. Even more great features are coming soon!

HP's buyout of PwC would be no easy deal

The two companies are still likely weeks away from completing a deal. But it's a move fraught with perils that could test the strength of HP's recent reorg. --- 

WOW News of the Week (From Syllabus News, September 19, 2000)

Wireless Connection at UC Davis

Beginning this fall, students at the UC Davis Graduate School of Management will be able to wirelessly connect to the school's network and the Internet at speeds up to 11 megabits per second (Mbps) by plugging PRISM-based wireless LAN cards into their notebook computers. The school is currently recommending Dell, Cisco, and 3Com WLAN cards for student purchase. These cards fit into student laptops and provide a high-speed wireless link to the campus server, allowing students to collaborate and work in areas on campus that are not wired for the Internet. For more information visit 

Also note the following:

Nokia and Midwest  Establish Model Wireless Campus at MSU
Nokia and Midwest Wireless will collaborate to create a model wireless 
campus at Minnesota State University, Mankato (MSU). MSU will act 
as a wireless learning environment and a research and testing ground by 
enabling students to perform their daily work using mobile handsets and 
services. Faculty and students will be using mobile-messaging-capable 
Nokia 5100 series phones and 200 Internet-ready Nokia 7160 
(tri-mode AMPS/ TDMA 800/TDMA 1900) phones. Nokia also will 
contribute a Wireless Application Protocol or WAP, server and WAP 
application developer toolkit. To provide maximum coverage on this 
model campus, Minnesota-based Midwest Wireless has constructed a 
cell site tower on the university grounds. 
This program is the latest in a series of MSU wireless initiatives on 
campus over the past several years, including campus-wide laptop wire-
less capabilities, incorporation of wireless technology in the College of 
Business, remote facility wireless support, and an upcoming pilot with 
Midwest Wireless for a Local Multi Point Distribution System (LMDS), 
an emerging wireless broadband technology that may serve as a viable 
alternative to traditional fiber-based broadband solutions.

Windows ME from Microsoft purportedly does not add a lot vis-a-vis existing Windows systems.  However, one feature that may interest some of you is the new Microsoft utility for recording audio that is built into the system.  Recall that awful Sound Recorder that limited your recording to 60 seconds and forced you to install third-party software.  That is no longer the case in Windows ME.  Dell Computer Systems has announced that it is shipping Dimension desktop and Inspiron notebook systems running Windows Millennium Edition (Windows Me).  See 

From Syllabus News on September 12, 2000

Carnegie Mellon to Offer Online Classes in India

Carnegie Mellon University will soon offer computer-programming courses in India via the Internet. Software-development courses will be available through a partnership between Carnegie Technology Education and the Indian-based company Sterling Infotech Ltd. A subsidiary of Sterling, DishnetDSL will provide access to students via 90 computer centers across India. In six months, the company plans to add 100 more centers, with 20 to 120 computers in each location. The high Internet speed at the centers will mean that Indian students need not own computers to participate in the pro- gram. The online skill-certification program will include 10 courses identical to those Carnegie Technology Education offers to American students. Officials hope to enroll 15,000 people initially, with plans to train 100,000 students simultaneously within two years.


In response to significant protests from Canadian graduate students, Contentville officials recently announced that they would halt the selling of all Canadian theses until the national library and the graduate schools can come to some agreement that allows authors a chance to refuse to have their theses sold through the site. American authors already have the ability to limit the sale of their works by UMI. 

Bob Jensen's discussion of Contentville can be found (by scrolling down a bit from August 22, 2000) at 


Animated E-Mail, a learning service provider, recently introduced a line of products in animated audio e-mail and animated character technology.Created with's proprietary and patented tech- nologies, these products will be marketed through the Company's Technology Division to other organizations for applications not competitive with's core online learning business. Learn2Mail, the Company's animated e-mail product, allows users to record and send computer-generated, animated, audio e-mail, lip-synched with and animated by the inflections of the user's voice. Learn2Mail also has text to speech capabilities, which will allow users without microphones to send an audio Learn2Mail. To use Learn2Mail, visit

And to think that Bob Jensen did not even know he was in Babylon!

Congratulations and welcome to the exciting world of Babylon glossary owners!

Your glossary "Jensen's Technology Glossary", has been successfully uploaded to our web-site, and can be found under the  following categories: 1. Computer & Internet

You are welcome to update your glossary at any time using the Babylon Builder.

Check out users suggestions for your glossaries by logging  into the "Glossary Owner's Area" located on our home page.  More features and options will be available soon from this area, so stay tuned...

For further assistance and tips in glossary building, use the help topics option from the Builder. Contact us at  for questions and comments about our product.

Thank you & Regards,

Babylon Team,  Information @ a click 

P.S. 1875 1st phone created 1903 1st airplane built 1926 1st television made 2000 and beyond your glossary and all the information you need at

Ed-Tech Looks for Answers ---,1283,38509,00.html 
Secretary of Education Richard Riley hosts a conference on educational technology this week. Researchers and educators 
want to figure out what works in educational technology, and the best way to assess it.

Educators will be grappling with questions such as: What real value does technology bring to schools, and why does technology work in some schools and not in others?

"We think Congress and legislators and local school boards are asking us, 'Is (technology) really making a difference?' And we need to be measuring this in some way," Reed said.

One hot topic is the use of assessment tests as a means of evaluating technology. They may or may not be the best measurement of success . . .

Microsoft launches Windows Me
The new OS for home users isn't considered a must-have upgrade, but it adds new programs, such as a music player that can record and play songs --- 

From the Financial Executives Institute (Newsletter) dated September 17, 2000 at C:\TEMP\feiexpress40.htm 
Only three excerpts are quoted below:

Our Committee on Corporate Reporting filed a response to the SEC's proposed auditor independence regulations. Our response is consistent with previous FEI positions, in that we believe that shareholders and the audit process are best served if a company can use its external auditor for other services like systems design, consulting and internal auditing services. Buying the best possible service at the cheapest cost benefits a far greater number of shareholders than the number of shareholders hurt by the rare occurrence of comprised independence. My own read of the situation is that the best practice among our companies is for the audit committee to review the assignment of non-audit work to the external auditors and approve it only if they are comfortable with the checks and balances in place. Some audit committees decide they want the additional check of a different firm doing this work. Some are comfortable with the controls in place. Either way, the audit committee is the place to make this decision, not the SEC.

FASB Update
Regarding the business combination project in which the elimination of pooling is proposed, the Board is actively assessing the feasibility of leaving goodwill on the balance sheet subject to an annual impairment test. Companies may also have the option of amortizing it if they deem it appropriate. It is still early and it's a difficult issue, but this is an important development and desirable outcome to many. Stay tuned.

The consolidations project plods ahead with no similar breath of fresh thinking. Much to FEI's chagrin and after concerted efforts to communicate and get the Board to listen to reason, they appear to be forging ahead with the "control" framework and the presumptive situations that require consolidation. At this point, I encourage our members to really study the proposal, because it is going to change the entities you consolidate, and deals you're doing today need to be designed to take the new proposed rules into consideration. I think you'll find this to be another FAS 133 surprise when you assess the answers

The New Economy and Financial Reporting
At the New York University Stern School, Professor Baruch Lev is performing a survey of financial officers regarding their views of the adequacy of the current financial reporting model. Both he and I would greatly appreciate it if you could jot your thoughts on this important issue and fax/email it back me at or 973-898-9456. Baruch and one of his Ph.D. students are collaborating with FEI's Research Foundation on a project entitled "Quantitative Measures of the Quality of Financial Reporting." We hope to assess financial reporting in an objective, quantitative manner to provide some overall context for the future development of policy in the area. Baruch and I go way back to my days as a graduate student at UC Berkeley. His class in Financial Statement Analysis was standing room only on most days. Download the 1-page questionnaire at:

Several people have asked me how I make (encode) MP3 audio files from WAV files. I use a free encoder called Blade that was first recommended to me by Scott Bonacker.

Blade is relatively easy to use, but there is a trick to it. You can read about it, about how to download it, and about how to make it work at  or at 

It seems to me that what Dell is doing for the computer world, online education programs will soon be doing for training and education.  

Eric Lundquist thinks that Michael Dell's objective to make computer purchases easier is a lesson all dot-commers should take to heart. --- 

Toshiba to launch Bluetooth card
Is Bluetooth finally moving forward? Toshiba's Type 2 PCMCIA card with radio will cost under $200. 

Hi Norimasa

Yes, FAS 133 makes a huge distinction between a hedge and speculative position. This is particularly true with embedded derivatives.

And yes, the power industry is very upset. If FAS 133 wasn't bad enough, the power industry views the FAS 138 amendments as a disaster. You can read more about the power industry at the bottom of the document at 

In that document search for the message from Sanford Menashe, Project Manager, FAS 133, Bonneville Power Administration. The problem is the changed treatment of bookouts. Brownouts used to be the problem in the power industry. Now they're bookouts.

Bob (Robert E.) Jensen 
Jesse H. Jones Distinguished Professor of Business 
Trinity University, San Antonio, TX 78212 Voice: (210) 999-7347 Fax: (210) 999-8134 Email: 

-----Original Message----- 
From: REPC28 []  Sent: Monday, September 18, 2000 7:42 PM 
Subject: Inquiry

I read the homepage of . Thank you for your cultivated and useful information.

Is it possible for me to ask questions regarding SFAS 133?

1. I could hear that Statement 133 (the amendment) would require entities to make a strict delineation between a hedge and a speculative posision. Is it true?

2. What effects will the amended SFAS 133 give to the electric power companies in U.S.?

Best regards,

Norimasa Tamamura Researcher Research Department Japan Electric Power Information Center, Inc. 4-15-33, Shibaura, Minato-Ku 108-0023, Tokyo, Japan TEL: +81-3-4511-3310 FAX: +81-3-4511-3399 E-mail: 

To think high school students are studying FAS 133!

-----Original Message----- 
From: Hamzah Richie []  
Sent: Friday, September 15, 2000 2:43 AM 
To: Subject: help for research

dear sir, I'm Richie, a last semester undergraduate student in Accounting Program, Universitas Padjadjaran, Bandung, Indonesia. Rightnow I am in the middle of finishing my final assignment as a requirement for finishing my study at this university. My topic is about the implementation of accounting for commodity future contract under SFAS 133. Prior to my email, I have visit many of your site regarding the implementation of derivatives, but up to now, I'm still confused by the literatures. I consider that there's still lack of explanation regarding commodity future contract. Therefore, I have several problem that i would like to ask to you, Sir: The problems are as the following: - In the FAS133, every derivatives should be recognized as either assets or liability. According to the above statement, what should the commodity future contract be recognized? Is it as an assets or liability

Bob Jensen's Answer 
That all depends upon whether its value is positive or negative and how you are doing the accounting for the Futures Margin Account. If you are combining the Futures Account into the Futures Margin Account, then it will always be an asset, because the Futures Margin Account can never fall below the minimum balance. If the futures contract value falls below the margin requirement, you must add cash to bring that account up to a minimum. Technically, you have a liability but since you feed in cash instantly, the liability does not stay on the books.

You can read more about this in my MarginOOPS Case at 

A shorter example can be found in Case B7 in my 133ex07a.xls file at 

This is one of the main differences between forward contracting and futures contracting. Another difference lies in the accounting. In the forward contracting case, you should discount the derivative forward and spot prices. This is not the case in futures contracting since the contracts are settled daily for cash. ************************************************************************************

- If the commodity future contract should be recognized as an asset, in what category the contract shall be included?

Bob Jensen's Answer 
Since the futures contracts are settled daily, I would include the Futures Margin Account in current assets.


- To the extent of the three categories of hedge activities (cash flow hedges, fair value hedges, and foreign currency hedges),   Does the commodity future contract can be implemented as foreign currency hedges ?

Bob Jensen's Answer 
It all depends upon what your are hedging. If you have a firm commitment for 100 million yen, then there is no basis for hedging cash flow. However, you can hedge against the fluctuation of the yen (FX risk) against some other currency such as the U.S. dollar. If you have a forecasted transaction that has both cash flow risk and FX risk, then my understanding is that you must have two separate hedges for hedge accounting under FAS 133/138 (only in the case of joint interest rate risk and FX risk can one hedge suffice under the FAS 138 amendments).


- And how about cash flow hedges, Does commodity future contract required for the implementation of cash flow hedges.

Bob Jensen's Answer 
FAS 133 requires that all derivatives (including futures contracts and forward contracts) be booked and maintained at fair value. If the company invests in futures contracts on rice as a speculation, then there is no hedge and no hedge accounting (i.e., the investment is a speculation on the price of rice). If the company invests in futures contracts on rice as a hedge against a forecasted purchase or sale of 1,000 tons of rice then hedge accounting might be allowed. In any case, the futures contracts must be accounted for at fair value. In the case of a cash flow hedge, part change in value can be offset into OCI. In the case of a fair value hedge, part of the change in value can be booked to the hedged item itself (e.g., rice inventory). ************************************************************************************

I really grateful for your help, in the fact that I have to finish my final assignment around October. Your help are very important thing to me. Thank you very much.

Richie (

From cpanet on September 15, 2000

Search the business Internet at comprehensive resource for all your Accounting & Auditing information needs. Find the latest information on The Big 5 or research how the Internet is revolutionizing the accounting industry. provides company profiles, industry resources, news, statistics and more. Visit:  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Every so often you come across a site or article that makes you stop and take notice...

Nonprofit Information ------------------------------ 
Chronicle of Philanthropy - 
Council on Foundations - 
Foundation Center - 
Guide Star - 
Nat'l Charitable Statsistics - 
Philanthropy Roundtable -

Data & Statistics ------------------------------ 
NASD Market Data - 
Int'l Banking Statistics - 
Exec Compensation Database - 
Economic Data & Statistics -

Client Advisory - Biotechnology ------------------------------ - 
Biotech Sage Report - 
Biotech Watch - 4
biotech - 

Internet Research ------------------------------ 
Analysis of the B2B Market - 
Managing Knowledge Flows - 
It's a Woman's World Wide Web - 
Media Metrix Special Reports - 
Digital Commerce Center @ USC - 
Nua Internet Surveys - 

How-To Sites ------------------------------ 
Free Skills - 
Find Tutorials -  
eHow -  - 

For Fun ------------------------------ 
Read Unleashing the Idea Virus -  
Urban Legends - 
Internet Movie Databse (IMBd) -  
Timelines of History -  
WSJ Online Investing - 

ebook and pbook
Debbie Bowling sent the following that she got out of Word Spy

As today's word shows, the apparently inevitable e-book revolution is forcing the language to change in anticipation. Within a year or two, using the word "book" without any kind of modifier will be confusing because people won't know if you're talking about a book printed on paper or one that's printed on electrons (so to speak). So I predict that p-book (or pbook, which I've also seen) will become a common noun that will help us distinguish between the paper and electronic formats.

In linguistic circles, a word such as "p-book" is known as a retronym: a word formed from an older word by attaching a previously unnecessary modifier. For example, there was a time when the words "guitar," "mail," and "transmission" were unambiguous. However, the advent of the electric guitar, e-mail, and the automatic transmission forced the creation of the retronyms "acoustic guitar," "snail mail," and "manual transmission."

You can read my threads on ebooks at 

Really cheap airline fares (travel) --- Hotwire - airfares 

The Wall Street Journal, September 18, 2000, p. B1 --- 
In Texas Hill Country, Getting Out the Vote Means Going Online.  In scattered elections around the U.S., the Web's influence is percolating down to local politics. As a result, voters are getting a valuable new way to learn about and even interact with those who would represent them. 

The tactics in this race show that online campaigns aren't just for big-name politicians anymore. Here in Austin and in scattered contests around the U.S., the Web's influence is percolating down to local politics. As a result, voters are getting a valuable new way to learn about and even interact with those who would represent them.

Eventually, especially if proposed online voting systems make casting a ballot push-button easy, this trend could broaden participation in local politics. But with plenty of voters still unwired, there are also questions about the digital divide. For now, using the Net in a local campaign means knowing how to balance high tech against low.

A great website to start with if you are interested in the new age of networked politics is 

The Trammell and Margaret Crow Collection of Asian Art --- 

Especially for Rita!

---------------------- Forwarded Message: --------------------- 
From: "Fiona Manks" <>  
To: <
Subject: NEW JOURNAL ANNOUNCEMENT/CALL FOR PAPERS - 2001 Date: Mon, 18 Sep 2000 11:37:35 +0100

To General management list

=================================================== CORPORATE GOVERNANCE: The international journal of effective board performance ISSN - 1472-0701 ===================================================

================= ABOUT THE JOURNAL =================

MCB are pleased to announce the launch of the above journal in February 2001. Corporate Governance will lead the international debate on board performance, corporate responsibility and CEO effectiveness through practical, real-world discussions and analysis of past, present and future concerns. The journal will be edited by Samuel Natale, Professor of Strategic Management, Adelphi University, New York and seeks to bring together the tactical knowledge of leading Corporate and Public Sector managers and executives with the Academic world.

======== COVERAGE ========

This quarterly 48-page journal will cover newly evolving assessment techniques and developing trends such as outcome based assessment, member selection, membership profiling, decision consensus, problems of implementation, executive succession, intra and inter-processes, corporate decision making and quality control. Regular features will include executive summaries of each article for quick reference to assist busy managers, a legal issues section edited by Dr Libertella, Dean of Business School, Adelphi University and conference/book reviews.

======================= BENEFITS TO SUBSCRIBERS =======================

Corporate Governance will enable you to: - - Keep abreast of developing trends in the field - Examine the role and performance of Boards of Directors - Discover how governance issues are raised, challenged and resolved - Implement successful decision making processes within your organisation

======================= FORTHCOMING ARTICLES =======================

"Qualities to be developed in Board Members" L. Perry, Vice President for HR, General SemiConductor

"Membership and Mission Concerns of the Board" D. Schroder, Board Member, Benedictine Health Services

"The Moral Responsibility of the Board Regarding Technology Policy" S. A. Sora, Owner of I-BEST Company, Consultant to IBM

"Influence of the Board on Day to Day Operations" R. Callan, Director, Learning Styles Centre

======================== SUBSCRIPTION INFORMATION ========================

Corporate Governance will be published from February 2001, in February, May, August and October and will include 4 print issues and 4 Internet updates with a site licence, reference linking, key readings and email alert service at no extra cost.

2001 Prices UK£99 +VAT UK£8.66 US$169 AUS$249 EUR 149 +VAT EUR13.04

If you would like to receive further information please contact: -

Fiona Manks MCB University Press 60-62 Toller Lane Tel: +44 (0)1274 777700 Fax: +44 (0)1274 785201 Email: 

------------------------------------------------------------------ To Unsubscribe to this service

Please send an e-mail to  and place the following command in the subject line.

Unsubscribe: General management

We are sending this message to the address  please make sure this address is included in your unsubscribe request. Thank you

Watch the birds on the wing in migration --- BirdCast 

Tempus Fugit: Time Flies (a great timeline on history) --- 

The new women in dot-com town are smashing the glass ceiling -- and showing others the way. eWEEK profiles four women breaking through the IT gender gap --- 

Hi David,

It brought tears to my eyes as well. It made me wish that I was better at this type of thing. I have, however, been fortunate to come in contact with a very few teachers who have this type of patience and dedication. One (now retired) was at Alice Nichols at Florida State University. Alice taught Intermediate Accounting and would spend nearly every minute of every working day in her office one-on-one with students who lined up for her help and caring. In major universities in this era of multiple responsibilities (teaching, writing, research, service, reputation, etc.), the teachers who spend virtually all their time teaching are becoming extinct. My hat is off to the ones who both do it and do it well.



-----Original Message----- 
From: David Stephens [mailto:StephensD@CBS.CURTIN.EDU.AU]  
Sent: Thursday, September 14, 2000 3:14 AM 
Re: The August 29 Edition of New Bookmarks

Dr Jensen

One of my students sent me this. I have to admit that I had a tear in my eyes at the end. I thought it might be nice to share with the group.


Life's Teaching...

There is a story many years ago of an elementary teacher. Her name was Mrs.Thompson.

And as she stood in front of her 5th grade class on the very first day of school, she told the children a lie. Like most teachers, she looked at her students and said that she loved them all the same. But that was impossible, because there in the front row, slumped in his seat, was a little boy named Teddy Stoddard.

Mrs.Thompson had watched Teddy the year before and noticed that he didn't play well with the other children, that his clothes were messy and that he constantly needed a bath. And Teddy could be unpleasant. It got to the point where Mrs. Thompson would actually take delight in marking his papers with a broad red pen, making bold X's and then putting a big "F" at the top of his papers. At the school where Mrs. Thompson taught, she was required to review each child's past records and she put Teddy's off until last. However, when she reviewed his file, she was in for a surprise.

Teddy's first grade teacher wrote, "Teddy is a bright child with a ready laugh. He does his work neatly and has good manners...he is a joy to be around." His second grade teacher wrote, "Teddy is an excellent student, well liked by his classmates, but he is troubled because his mother has a terminal illness and life at home must be a struggle." His third grade teacher wrote, "His mother's death has been hard on him. He tries to do his best but his father doesn't show much interest and his home life will soon affect him if some steps aren't taken." Teddy's fourth grade teacher wrote, "Teddy is withdrawn and doesn't show much interest in school. He doesn't have many friends and sometimes sleeps in class."

By now, Mrs. Thompson realized the problem and she was ashamed of herself. She felt even worse when her students brought her Christmas presents, wrapped in beautiful ribbons and bright paper, except for Teddy's. His present which was clumsily wrapped in the heavy, brown paper that he got from a grocery bag.

Mrs. Thompson took pains to open it in the middle of the other presents. Some of the children started to laugh when she found a rhinestone bracelet with some of the stones missing, and a bottle that was one quarter full of perfume. But she stifled the children's laughter when she exclaimed how pretty the bracelet was, putting it on, and dabbing some of the perfume on her wrist. Teddy Stoddard stayed after school that day just long enough to say, "Mrs.Thompson, today you smelled just like my Mom used to." After the children left she cried for at least an hour. On that very day, she quit teaching reading, and writing, and arithmetic.

Instead, she began to teach children. Mrs. Thompson paid particular attention to Teddy. As she worked with him, his mind seemed to come alive. The more she encouraged him, the faster he responded. By the end of the year, Teddy had become one of the smartest children in the class and, despite her lie that she would love all the children the same, Teddy became one of her "teacher's pets."

A year later, she found a note under her door, from Teddy, telling her that she was still the best teacher he ever had in his whole life.

Six years went by before she got another note from Teddy. He then and wrote that he had finished high school, third in his class, and she was still the best teacher he ever had in his whole life.

Four years after that, she got another letter, saying that while things had been tough at times, he'd stayed in school, had stuck with it, and would soon graduate from college with the highest of honors. He assured Mrs.Thompson that she was still the best and favorite teacher he ever had in his whole life.

Then four more years passed and yet another letter came. This time he explained that after he got his bachelor's degree, he decided to go a little further. The letter explained that she was still the best and favorite teacher he ever had. But now his name was a little longer -- the letter was signed, Theodore F. Stoddard, M.D.

The story doesn't end there.

You see, there was yet another letter that spring. Teddy said he'd met this girl and was going to be married. He explained that his father had died a couple of years ago and he was wondering if Mrs.Thompson might agree to sit in the place at the wedding that was usually reserved for the mother of the groom. Of course, Mrs. Thompson did.

And guess what? She wore that bracelet, the one with several rhinestones missing. And she made sure she was wearing the perfume that Teddy remembered his mother wearing on their last Christmas together. They hugged each, and Dr. Stoddard whispered in Mrs. Thompson's ear, "Thank you, Mrs. Thompson for believing in me. Thank you so much for making me feel important and showing me that I could make a difference."

Mrs. Thompson, with tears in her eyes, whispered back. She said, "Teddy, you have it all wrong. You were the one who taught me that I could make a difference. I didn't know how to teach until I met you."


David Stephens
David Stephens CPA CISA Manager Undergraduate Programs School of Accounting Curtin University of Technology Western Australia

Welcome to the September 17th edition of the Internet Essentials 2000 Newsletter 

1. XBRL: Biggest Thing to Hit Financial Reporting since the ASCII File 
2. E-Week Features How XBRL Takes the Pain out of Financial Reporting 
3. Tom Peter's (Slides) Rant: Talent! 
4. Oracle Offering Free Sales Management Tools for Online Business 
5. W3C Forms Group to Explore Machine-to-Machine Protocol 
6. Forbes ASAP Special Issue on Truth 
7. XML NEWS! Live Feed for all News about XML All the XML you need to know, fresh stories daily.

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of September 18, 2000

1. The Week's Top Accounting News 
2.  CPAs: Earn Free CPE Credit! 
3. Feature Solutions Articles in Brief 
4. Execusite, Pro2Net Team Up 
5. Pro2Net Tip of the Week: Some True -- But Not Inherently Obvious -- Facts About Independence 
6. Pro2Net Marketplace Grand Opening!

Pro2Net Accounting Students Newsletter  September 13, 2000

1. Meet Five Outstanding Accounting Students 
2. Online CPA Exam Tips 
3. Contests! Contests! 
4. How to Fit in at the Office 
5. Hiring and Retaining Gen-Xers: Audio Interview

See past and present U.S. Presidents dance (history)--- 

Forwarded by Auntie Bev

A middle-aged man is out to dinner with his wife to celebrate her  40th birthday.  

He says, "So what would you like, Julie? A Jaguar? A sable coat? A  diamond necklace?"   

She says, "Bernie, I want a divorce."  

He says, "I wasn't planning on spending that much."

From: Auntie Bev

Sure to confuse those who haven't had your fill of caffeine!
21 Reasons Why The English Language Is Hard To Learn:

1) The bandage was wound around the wound.
2) The farm was used to produce produce.  
3) The dump was so full that it had to refuse more refuse.  
4) We must polish the Polish furniture.  
5) He could lead if he would get the lead out.  
6) The soldier decided to desert his dessert in the desert.  
7) Since there is no time like the present, he thought it was time to   present the present.  
8) A bass was painted on the head of the bass drum.  
9) When shot at, the dove dove into the bushes.  
10) I did not object to the object.  
11) The insurance was invalid for the invalid.  
12) There was a row among the oarsmen about how to row.  
13) They were too close to the door to close it.  
14) The buck does funny things when the does are present.  
15) A seamstress and a sewer fell down into a sewer line.  
16) To help with planting, the farmer taught his sow to sow.  
17) The wind was too strong to wind the sail.  
18) After a number of injections my jaw got number.  
19) Upon seeing the tear in the painting I shed a tear.  
20) I had to subject the subject to a series of tests.  
21) How can I intimate this to my most intimate friend?

Forwarded by an engineer friend (I like the Take Two module)

Comprehending Engineers - Take One ----------------------------------- 
Two engineering students were walking across campus when one said, "Where did you get such a great bike?" The second engineer replied, "Well, I was walking along yesterday minding my own business when a beautiful woman rode up on this bike. She threw the bike to the ground, took off all her clothes and said, "Take what you want." The second engineer nodded approvingly, "Good choice; the clothes probably wouldn't have fit."

Comprehending Engineers - Take Two ----------------------------------- 
To the optimist, the glass is half full. To the pessimist, the glass is half-empty. To the engineer, the glass is twice as big as it needs to be.

Comprehending Engineers - Take Three ----------------------------------- 
A pastor, a doctor and an engineer were waiting one morning for a particularly slow group of golfers. The engineer fumed, "What's with these guys? We must have been waiting for 15 minutes!" The doctor chimed in, "I don't know, but I've never seen such ineptitude!" The pastor said, "Hey, here comes the greenskeeper. Let's have a word with him." "Hey George. Say, what's with that group ahead of us? They're rather slow, aren't they?" The greenskeeper replied, "Oh, yes, that's a group of blind firefighters. They lost their sight saving our clubhouse from a fire last year, so we always let them play for free anytime." The group was silent for a moment. The pastor said, "That's so sad. I think I will say a special prayer for them tonight." The doctor said, "Good idea. And I'm going to contact my ophthalmologist buddy and see if there's anything he can do for them." The engineer said, "Why can't these guys play at night?"

Comprehending Engineers - Take Five ----------------------------------- 
What is the difference between Mechanical Engineers and Civil Engineers? Mechanical Engineers build weapons. Civil Engineers build targets.

Comprehending Engineers - Take Seven ------------------------------------ 
"Normal people ... believe that if it ain't broke, don't fix it. Engineers believe that if it ain't broke, it doesn't have enough features yet."

Comprehending Engineers - Take Eight ------------------------------------ 
An engineer was crossing a road one-day when a frog called out to him and said, "If you kiss me, I'll turn into a beautiful princess". He bent over, picked up the frog and put it in his pocket. The frog spoke up again and said, "If you kiss me and turn me back into a beautiful princess, I will stay with you for one week." The engineer took the frog out of his pocket, smiled at it and returned it to the pocket. The frog then cried out, "If you kiss me and turn me back into a princess, I'll stay with you and do ANYTHING you want." Again the engineer took the frog out, smiled at it and put it back into his pocket. Finally, the frog asked, "What is the matter? I've told you I'm a beautiful princess that I'll stay with you for a week and do anything you want. Why won't you kiss me?" The engineer said, "Look I'm an engineer. I don't have time for a girlfriend, but a talking frog, now that's cool."

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on September 20, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


September 12, 2000

Quotes of the Week:  

The Accounting Firm of Ruth, Gehrig, Dimagio, & Mantle

Readers Digest, July 2000, p. 67

There are three kinds of people:  Those who can count and those who can't.
Author unknown.

Happiness is a thing to be practiced, like the violin.
Author unknown

Experience comes from bad judgment (what I should have put as a header on some of my FAS 133 cases)

One of the secrets of life is to make stepping stones out of stumbling blocks.
Author unknown

Some people change their ways when they see the light
Others when they feel the heat
Author unknown

Be nice to your kids
They'll choose your nursing home

Author unknown

And if you believe this, I've got some ocean front property in Arizona for sale.

[High tech companies like BEA systems, Cisco Systems, Inforspace, Qualcom, and Yahoo] argue that leaving out the payroll taxes on options actually makes their business returns clearer to investors. "We're just trying to give people a better idea of our operating results," says Dick Grannis, vice president and treasurer of Qualcom, a wireless-phone-technology firm. "That's what any pro-forma earnings tries to do."
See below for details.

New and Revised Already!

FAS 133 Hedge Accounting Ineffectiveness Testing Short Cases ---  
The above document was specially prepared for my Year 2000 KPMG Workshops that I am conducting with Ira Kawaller in Chicago October 12-13, New York City November 2-3, and Las Vegas November 30-December 1. Persons interested in attending these workshops may contact Lysle Hollenbeck at  [

If you previously downloaded the Excel workbook copy of my three "short" cases on testing for hedge ineffectiveness using futures (Case B7), Forwards (Case A7), and foreign currency forward contracts (Case A1), please download a fresh copy  by downloading the Excel Workbook 133ex07a.xls file at 

There may be other corrections and additions after the rest of you give me feedback.  One reason I really love the Internet is that people using my cases point out their flaws and shortcomings.  Robert Steeindl pointed out that in my Case A1 the spot and forward prices did not converge at maturity for Nation 2 foreign currency.  I fixed this.  There was also confusion over the DELTA(t) definitions.  I added commentaries and made some corrections.

Case B7 features a hedge effectiveness test based upon DELTA(t) defined as the absolute value of the change in futures prices divided by the change in spot prices of corn.

Case A7 features a hedge effectiveness test based upon DELTA(t) defined as the absolute value of the change in forward prices of Columbian coffee divided by the change in forward prices of Brazilian coffee.

Case A1 features a hedge effectiveness test based upon DELTA(t) defined as the absolute value of the change spot prices of Nation 2 currency divided by the change spot prices of Nation 1 currency. Since spot prices are used, Paragraph 63(c ) is invoked where effectiveness testing excludes the difference between forward and spot prices.

Case A1 also adds a test for hedge ineffectiveness materiality.   Hedge accounting in Case A1 is denied only when the hedge ineffectiveness is material in dollar amount as well as violates the 0.80-1.25 Rule for DELTA(t).

Note in particular that I have some relatively short (relatively short in terms of the cases listed below) that expand upon FAS 133 Appendix A Problem 7 versus Appendix B Problem 7.  You can proceed directly to those short cases by downloading the Excel Workbook 133ex07a.xls file at 

In that same workbook, I extended a KPMG example on foreign currency hedging of an equipment purchase.  Whereas KPMG assumed perfect hedge effectiveness, I added examples of both immaterial and material hedge ineffectiveness.  Go to my 133ex07a.xls file at 

I have also improved my Excel Workbook expansions of Appendix B Examples 9 and 10.  These are in files 133ex09.xls and 133ex10.xls that can be downloaded from 

Hi Bob (Steindl),

I attached two files in which I added DELTA(t) calculations to FAS 133 Appendix B examples. The 133ex10a.xls file may especially relate to your problem since it removes the difference between spot and forward rate values when testing for effectiveness.

The 133ex09a.xls file does the same thing with options hedging. However, I am having trouble with the DELTA(t) calculation in the final period. Any thoughts on this last period problem?

If you have trouble reading the attached files, you can download them from /

Bob Jensen

And if you believe this, I've got some ocean front property in Arizona for sale.

[High tech companies like BEA systems, Cisco Systems, Inforspace, Qualcom, and Yahoo] argue that leaving out the payroll taxes on options actually makes their business returns clearer to investors. "We're just trying to give people a better idea of our operating results," says Dick Grannis, vice president and treasurer of Qualcom, a wireless-phone-technology firm. "That's what any pro-forma earnings tries to do."

"Tech Firms Hide Payroll Taxes On Employees' Stock Options," By Robert McGough and Mylene Mangalindan, The Wall Street Journal, September 7, 2000, p. C25 --- 

Nobody likes paying taxes, but some tech companies apparently like reporting them to their shareholders even less.

In their quarterly earnings announcements, businesses such as BEA Systems, Cisco Systems, InfoSpace, Qualcom and Yahoo! are playing up a net-income figure that ignores the payroll taxes they owe when employees exercise stock options -- as if the taxes had never been incurred.

What a concept! In today's stock market, the companies are under heavy pressure to look as profitable as they can. By stressing an earnings figure that excludes the expense of the payroll taxes, they do look more profitable.

How are the companies able to do this? Thank Silicon Valley's brilliant innovations in the field of pro-forma earnings. At the top of the earnings releases that technology companies publish, they announce their pro-forma earnings. In the pro-forma number, companies get to include -- or exclude -- just about any revenue or expense that they want. The huge body of accounting rules only applies to the dreary official-income figure that shows up later in the news releases. Inevitably, pro-forma earnings are higher than this "generally accepted accounting principles" number reported lower.

Some expenses excluded from pro-forma earnings, such as costs associated with acquisitions, seem reasonable to exclude. They arguably aren't recurring, so their exclusion gives investors a better idea of how the day-to-day business is faring. But payroll taxes? Aren't they a cost of doing business?

To be sure, the payroll tax represents only a small portion of income for the companies that exclude it from the pro-forma figure. Still, nowadays, a penny in per-share income can have a big effect on a stock price. And some accounting experts and investors say the disappearing payroll tax is yet another example of the kind of wacky accounting that shows up in pro -forma income.

"When you're talking about e-businesses, they all come up with their own cookbook for what the earnings should be," complains Jack Ciesielski, publisher of the Analyst's Accounting Observer, a Baltimore newsletter. "It's kind of ludicrous."


You, and your bookmarks' readers, might be interested to know that the final report of the Panel on Audit Effectiveness is now available by going to:

Also, the SEC has posted the entire transcript of the first day of public hearings on its independence proposal on the SEC web site. It makes for very interesting reading.

Denny Beresford

An Excerpt reads as follows:

1.9 The past decade has been one of unprecedented change in the global economy and capital markets. Key aspects of the current business environment include a globalized, highly competitive, expanding economy; explosive growth in the development and use of technology; dramatic increases in “new economy” service- and technology-based businesses with predominantly intangible assets; unparalleled expansion in the number of public entities; large increases in the number of individuals who directly or indirectly own equity securities; and unprecedented growth in the market value of those securities. 

1.10 The growth in equity values over the past decade has introduced extreme pressures on management to achieve earnings, revenue or other targets. These pressures are exacerbated by the unforgiving nature of the equity markets as securities valuations are drastically adjusted downward whenever companies fail to meet “street” expectations. Pressures are further magnified because management’s compensation often is based in large part on achieving earnings or other financial goals or stock-price increases. These pressures on management, in turn, translate into pressures on how auditors conduct audits and in their relationship with audit clients. 

1.11 The expanded use of technology in both the operating and financial systems of companies also has significantly affected the audit environment, forcing audit firms to recruit, train and deploy a large number of information technology specialists to support their audit efforts. It also has caused firms to reconsider their audit methods and techniques in an effort to harness technology to improve audit efficiency and effectiveness. Some have questioned, however, whether the increased efficiency may have come at the cost of reduced, not enhanced, effectiveness. 

1.12 The technology explosion also has contributed significantly to the enormous growth in large audit firms’ consulting practices, to the point where revenue from their audit practices has declined from 70% or more of total firm revenue 25 years ago to about half that today. This shift has led to concerns about the relative importance of the audit practice to firms and about auditor independence when significant non-audit services are performed for audit clients. These concerns come at a time when the importance of public confidence in auditing has never been greater. 

1.13 Thus, examining the efficacy of the audit process alone is not the answer to assessing audit effectiveness. Understanding the environment in which audit firms operate and the factors that drive their business was an important feature of the Panel’s efforts. Accordingly, the Panel studied not only how audits are conducted but also whether non-audit services provided to audit clients pose a threat to auditor independence and whether the system of governance of the auditing profession is adequate or in need of change.

The Financial Executives Institute (FEI) has some PowerPoint presentations available (from Arthur Andersen experts) on FAS 133.  Faculty and practitioners may find these useful --- 

Why is FAS 133 so difficult to Implement?




May 11

The Implementation Process




May 25

Identifying and Evaluating Derivatives




June 1

Evaluating Hedging Strategies 1: Commodity & FX Hedges




June 8

Evaluating Hedging Strategies 2: Financial Instrument Hedges




June 15

Tax Guidelines & Issues




WOW News of the Week From Syllabus News on September 5, 2000  (Can something like this be done with schools of accounting?  Of course in our case the help may need to flow in the other direction.)

Medical Schools Collaborate on Physician Web Site

A new Internet service, UPCMD, has been created by six well-known medical schools. The site contains thousands of pages of information to help health-care providers diagnose and test for a variety of diseases. Because printed medical sources become outdated so quickly, a consortium directed by the departments of pathology and laboratory medicine from six universities contracted with about 150 medical experts around the country to review and update the information on the site. The service, available through annual subscription, allows physicians to type in the name of a disease and obtain within seconds a description of the condition, its clinical characteristics, several recent newspaper articles about it, and information about tests to confirm the diagnosis.

WOW Site of the Week --- Knowledge Management: A Bibliographic Resource 
By John Hokkanen, Esq. and Tricia Bond --- 

This is a very good source for a variety of references on knowledge management classified into topic areas.  For example, one topic category is "Return on Investment, Cost Justification, Economics."  That section reads as follows:

Return on Investment, Cost Justification, Economics

Return on Knowledge by Dawne Shand, Knowledge Management Magazine, April 1999.
This article examines the use of “knowledge metrics” where managers can measure the value of investing in KM. These types of measurements help a company define the most effective knowledge management strategies. The author also reviews a “balanced scorecard” where companies can estimate four areas: financial goals, customer strategies, internal process initiatives and learning and growth activities.
KM from the Ground Up: Debunking the Myths that Knowledge Management Initiatives Have to Be Huge, Expensive and All-Encompassing Knowledge Management Magazine, May 1999.
According to this article, starting KM from the top (e.g. CEO, COB) is not always the best way to implement effective knowledge strategies. Starting small works better for some firms. “Sometimes the most effective approach to implementing a knowledge management initiative is to look for low-cost small wins in a single department or community of practice.” The article also addresses the high cost of KM technologies, but how they are often worth the investment.

Another section is on "Knowledge Management Technologies."

Knowledge Management Technologies

Knowledge Management: Great Concept…But What is it - Information Week Labs and Doculabs examine five products that try to help companies turn an abstraction into a reality by Jeff Angus of InformationWeek Labs, and Jeetu Patel and Jennifer Harty of Doculabs, InformationWeek, March 16, 1998, Issue: 673.
This article addresses several KM concepts such as - What is KM? What are some of the new KM technologies? And what are some of the difficulties encountered with trying to implement a KM environment? The article explains that knowledge management is “more a business practice than a product. The products are what facilitate the practice of knowledge management…with the appropriate use of technology.”
Furthermore, competitive environments, where employees believe sharing knowledge will reduce their chances of individual success, can be damaging to KM, allowing the concept to never reach full potential. The article also reviews five knowledge management technology products – Wincite, Intraspect, ChannelManager, BackWeb and KnowledgeX.
We Have the TechKnowledgy by Tom Davenport, CIO Magazine, Sept. 15, 1996.
This article reviews some technology tools for use in knowledge management - web based systems, expert systems, constraint-based systems, case-based reasoning applications and neural networks.
Visualizing the Workplace: Graphical Workflow Systems Both Represent and Reengineer Business Processes by Lee Sherman, Knowledge Management Magazine, May 1999.
Visual workflow systems can be helpful in managing your knowledge, as they “can show you exactly what impact any reallocation of resources, time or money might have on your bottom line.” This technology is beneficial because information does not have to be created from the ground up each time. Process 98, WorkDraw, Ptech’s FrameWork and Micrografx iGrafx Process are some of the technologies reviewed.
Legal Ease: Law Firm's Web Technology Uses Agents Instead of Paralegals for More Efficient Information Retrieval and Sharing by Lee Sherman, Knowledge Management Magazine, May 1999.
This article analyzes how one law firm, Davis, Polk & Wardell, is using technologies such as NMatrix to retrieve and manage information. With NMatrix, the law firm is able to combine information from resources such as the World Wide Web and Lexis-Nexis , and arrange the data so that their attorneys may utilize it more efficiently.
Knowledge Tools: Using Technology to Manage Knowledge Better by Rudy Ruggles, April 1997.
Knowledge management tools can enhance knowledge by a variety of ways including generation, codification and transfer. Rudy Ruggles examines these tools and notes that, “without a culture that supports the rewards of knowledge sharing, the tools can be useless.”

There is nothing given about accounting firms, but there is a section entitled "Law Firm Knowledge Management Articles."

And don't forget BakerBooks -- Harvard Business School 

Econbase -- Elsevier 
Over 60 journals online.

Mojo Nation at 

Wired News on September 8 noted that IMojo Nation "attempts to offer the best features of PGP, Napster,, and HavenCo, all in one nifty package."

Enables users to directly pay content providers Creators and distributors receive compensation for their work
Pays contributors of resources You get credit for what you donate.
Distributes data among community members Legal hassles are minimized
Provides general-purpose web-style publishing Open access expands the market
Scales core technology for faster broadband connections and higher-bitrate content Users share larger file sizes that Napster or Gnutella cannot supply due to architectural weaknesses

You could be paid for putting your extra disk space and network bandwidth to work? Mojo Nation creates a digital marketplace for the exchange of idle disk space, bandwidth, and CPU cycles. By providing services and resources to other Mojo Nation peers you earn credit that can be used to consume content or sold for cash. Freeloaders cannot consume more than they contribute to the system; they must purchase more resources from you.

You could participate in a peer to peer network, knowing your security and privacy were protected? Strong cryptography protects messages within Mojo Nation. Pseudonymous access and relay agents protect your privacy while browsing or providing content. Simple cost recovery prevents most denial of service attacks.

You could publish your web pages without worrying about their sudden popularity? Mojo Nation distributes published content widely across all participating peers, using market-based mechanisms to control flash crowds and efficiently cache data. When a user downloads content from Mojo Nation he compensates the peer providing the data with credits for the resources consumed; popularity does not increase the cost to the publisher.

You didn't have to worry about the sudden unpopularity of your web pages, either? Mojo Nation is de-centralized and secure, once data is published it cannot be deleted or controlled. Publishers have their identities hidden with pseudonyms and can publish without fear of reprisal. Content consumers can retrieve data with as much anonymity as they desire, privacy is a simple economic decision.

My threads of Napster etc. can be found at 

CyberU has over 17,000 online courses from hundreds of universities and corporate providers --- 
There is also a set of Resources and a Virtual Library of over 1,600 selected sites at 

LEARN SOMETHING Online Classes Online Resources Online Training Certificates & Degrees

JOIN THE COMMUNITY Forums Volunteer Parents Educators

CAMPUS SERVICES Campus Store Career Planning Financial Aid Help


CyberU makes online education and corporate training more accessible.

CyberU strives to increase access to education by delivering best-of-breed online corporate education directly to company intranets, online training directly to small businesses, and online personal and professional development resources directly to individuals through Whether using CyberU's Corporate Education System as a corporate employee or going straight to as a potential student, people now have access to thousands of online courses and resources at their fingertips.


For large corporations, CyberU has developed an ASP-based Corporate Education System, providing training managers with a single interface to administer and track employee training across the entire enterprise, while delivering top online corporate training and executive education. Through the system, Employee Knowledge Portals are built and customized for each employee in the corporation. Because the Corporate Education System is extranet-based, the service is continually improved and updated as new content becomes available.


Small businesses will benefit most from CyberU's Online Training Center, which helps small companies to grow their most valuable assets-their employees. CyberU brings together online business, technical, and skills training, which means that employees can learn everything from Microsoft Office 2000 to public speaking to accounting without leaving the office. CyberU reaches small businesses through its network of distribution partners and has launched an affiliate program with Commission Junction.

Over 40 colleges thus far are using at, Academic Systems' new web-based product, offers a complete eLearning solution for online, general education courses across many disciplines. With, educators get the tools, supplemental learning modules, training, and support they need to build engaging and effective Web-enabled courses. Administrators get an easy-to-use, scalable, and fully supported eLearning platform. Campus IT professionals get a fully supported Internet-based solution that's easy to integrate within their existing infrastructure. Best of all, students get anytime, anywhere access to high-quality instruction even when they are on their own.

Content: provides a collection of high quality interactive, online instruction content modules that faculty can use to supplement a wide variety of courses.
Platform: Academic Systems has teamed up with Blackboard, Inc. to license and integrate Blackboard's technology into
Services: provides 24/7 technical support for faculty and students along with a professional development team that provides a variety of faculty training workshops.
Brochure: Download a copy of the brochure

The Sloan ALN Consortium  

"A consortium of institutions offering a catalog of online degree programs committed to quality distance education funded in part by grants from the Alfred P. Sloan Foundation."

Sloan ALN Consortium (Sloan-C) is an association of accredited institutions of higher education offering associate, undergraduate, graduate, and master degree programs through high-quality online education. Specialized certification courses, corporate training and certificates are also offered to students at a distance. Most distance learning courses are delivered through the World Wide Web, any time, any place in a wide range of disciplines.    

Distance learners typically experience instructor-led courses and classes are about the same size as campus lecture classes. Distance Education classes are structured to encourage interaction among students using a variety of technologies. Because these classes permit learning at anytime or anyplace, they are referred to as "asynchronous."   

Sloan-C invites you to experience the convenience and quality found in distance education programs from our consortium institutions.


GET WITH THE PROGRAM: The Sloan Foundation invites your college or university  to participate in providing on-line programs to US Army personnel and their families throughout the world. The Sloan Foundation is working with program integrators to represent Sloan Consortium schools as participants in Army University Access Online
Click here to view the Army RFP.

To learn more about the Sloan Consortium and to register your on-line programs, please visit the Sloan Consortium catalog.

A Captive Audience Learns Tech Seymour Papert, co-founder of MIT's Artificial Intelligence Lab, is working with juvenile delinquents in Maine. He's using technology to try and spark their interest in learning ---,1284,38488,00.html 

Looks like Active Development is another Blackboard wannbe!

Active Development, Inc.

Would you like to offer classes, testing and labs online? Create rich, dynamic content for your students easily Active Academic 1.0

Active Academic 1.0 enables you to easily:

·Create and maintain individual or multiple online classes or schools.

·Serve as the dean of your online school by assigning administrative rights to other professors for their own classes.

·The graphics, look and feel of the program are customizable for each school through Active Academic’s administration which also features a full HTML editor for easy layout and design.

·Our easy interface does not require any programming experience.

Additional Features:

· Professors can upload created HTML Documents, Labs, Tests securely or create them from our proprietary HTML Editor

· Active Academic supports unlimited schools, classes, corporations, divisions (for corporate training purposes or if an e-learning portal is selling online course space)

· Tests can be graded automatically or can be emailed to the professor for grading

· Built in order processing to charge for courses offered

· Graphics and text are dynamically generated for each individual school or corporation allowing customization for each.

· Professors can post grades that students can view securely with their identification number.

265 First Street Hoboken, N.J. 07030 · Ph: (973) 785-1037 · Fax: (201) 792-7578

site:  email: 

From the Scout Report on September 5, 2000

The Sociosite/ ICAAP Journals Database and Distribution Centre 

In association with Sociosite, the International Consortium for the Advancement of Academic Publication (ICAAP) offers a database of "full text, freely available, peer reviewed (and clearly identified) scholarly journals." In sum, the site features over 70 periodicals -- many of them in the fields of the social sciences and humanities. Relevant subject headings include environmental studies, history, humanities, philosophy, political science, religious studies, and sociology. Each listing features a basic and expanded entry that includes information such as the type of periodical (journal, newsletter, magazine, etc.), the type of review process, the publisher, a link to the publication, and in the expanded version, the periodical's start date, country of origin, and a brief description. In point of fact, many of the titles listed are not refereed journals, but magazines on scholarly topics with editorial, rather than peer, review. And, as is so often the case with Internet publications, some are updated more frequently than others. Nonetheless, there is much here to take advantage of, and perhaps as the field of electronic scholarly publishing evolves, this ambitious Website will evolve along with it. ICAAP "is a research and development laboratory and standards organization devoted to the advancement of electronic scholarly communication."

Don't forget the ERIC Digests Database 

Distance Learning Goes Niche By REBECCA S. WEINER
NY Times, September 6, 2000 --- 

The Education Department's National Center for Education Statistics (NCES) has found that 44 percent of all higher education institutions offered distance learning courses in the 1997-1998 academic year. That figure does not include the growing number of private, for-profit entities that are tapping the expanding market for adult education. The center estimated that 1.3 million students were enrolled in postsecondary degree-granting distance learning courses in that same academic year, up from 750,000 in 1995.

Still, despite the rapid growth, distance learning executives say they do not expect to supplant traditional campus-based universities. Instead, they said they will focus on serving those people for whom a traditional educational program does not work.

"The traditional universities, to some extent, have disenfranchised the working adult," said Steven Shank, chief executive officer for Capella University, an online institution. "The traditional classroom-based education does not wash well for the adult learner. The typical student for us is aged 25-55, employed with an over full life."

The University of Phoenix has 48 campuses in 14 states in addition to its online offerings. The institution is not cutting into demand at traditional universities, Mueller says.

"Our niche is working adult students. Because we haven't deviated form that niche, we've been successful," he said. "If you look at our ground-based campuses, we've had very little impact on the institutions in those areas," he said, adding that the school's campus in Salt Lake City, Utah, has not detracted from Brigham Young University's attendance.

Capella University, based in Minneapolis, Minn., offers a number of degree programs in business, education, psychology and information technology through courses that are taught exclusively online. Founded in 1993, the school now has 1,600 students. It is part of an Education Department demonstration project to determine how traditional student aid funding can be applied to distance education courses. Old Dominion University in Norfolk, VA, is sticking to a form of distance learning more rooted in its traditional campus program, beaming courses via satellite to community colleges in other parts of the state and even aircraft carriers at sea. The school even put a nuclear engineering program on CD-ROM for navy submariners who could not access the satellite courses.

"There are lots of different students out there and one kind of model will not fit all," University President James Koch said. "Students who opt to do distance learning have in a sense self-selected and are willing to try different things."

Pull the Plug by Clifford Stoll in CIO
A article on the downside of computers in the classroom --- 

THIS YEAR WE'LL spend some $3 billion to wire our nation's classrooms, bringing students into the Internet era with computers, multimedia and Web connections. On the surface that may seem like a worthy effort. But as information executives know, technology is not an end in itself. Rather, its value comes from solving real problems. So what pressing issues are computers solving in education?
    Among the challenges confronting our elementary and high school students today, one might list short attention spans, lack of discipline, cynical attitudes, too much television, low regard for teachers or little interest in reading. OK: Which of these problems are solved by a classroom computer? Which, on the other hand, are made worse?
    The one thing that the networked computer does well is to give our kids more information, faster. But lack of information simply isn't a problem in any school I've visited. Indeed, most teachers complain that they haven't enough time to teach the information that's already available.
    Some might argue that the goal of wiring schools is to replace outdated textbooks with the latest information from the Net. But most subjects don't change that quickly. The core of physics and chemistry, for example, evolves slowly. Schools certainly don't need the Internet to teach poetry or literature. And only a fool would teach current events from a textbook—that's the purpose of magazines, newspapers and the daily news.
    Maybe we're wiring our classrooms to promote computer literacy. But how much computing does a student need to be taught? I'd say that a high school graduate oughta be able to use a word processor, manipulate a spreadsheet, know what a database does, use e-mail, browse the Web and use a search engine. OK, how long did it take you to learn to use a word processor? A day? Maybe three? Did it take you a week to figure out how to surf the Web? Aside from the mechanical typing lessons, this just isn't challenging stuff. And whatever the problems confronting our students, fear of computers isn't one of 'em. Nor is the inability to use the Internet. Quite the opposite: Kids quickly take to computers and will happily spend hours sending e-mail, logging into chat rooms and generally fooling around online.
    Computer literacy doesn't demand the same level of instruction as English, American history or physics. Spending semesters teaching computing simply subtracts time from other subjects. It's one more way to dumb down the school, giving the appearance of teaching futuristic subjects while dodging the important topics. You can learn how to use computers anytime in life, but some subjects really are best learned when you're young—foreign languages, musical instruments, just to name two.
    The fact is, computers don't belong in the classroom. Not only do they not help solve any educational problems, but they very often make existing problems worse.

Note from Bob Jensen
Yes Clifford, but what is the alternative for your kids?  Do you want them to grow up in the 21st Century without being computer savvy or to fall behind their peers?  Do you want them to compete with the whiz kids from the techie-smart schools?  Do you want them to be ignorant on how to use the blame things for accessing the knowledge portals of the world?  Do your want them to fall behind in multitasking and to ignore new knowledge as it unfolds?  Do you want them to be different than their 20th Century dad?  

If you answer is NO to all of the above Clifford, then I pronounce you a luddite.  In this day of age, learning the computer and the Internet is like learning how to use the library.  It is our portal to knowledge.  I don't think that kids should postpone learning how to use the main portal to unfolding knowledge, especially in the world's digital library.  I guess I am glad that you are not my parent or my teacher.  I would have been more impressed if you challenged some of the serious research.  See 

And perhaps you did not interview creative teachers using computers in the classroom.
The Creative Teaching Web Site (mostly at K-12 levels) 

Making homework fun for kids --- 

From the Scout Report on September 5, 2000

Two from NCES [.pdf] "NAEP 1999 Trends in Academic Progress: Three Decades of Student Performance"  "Projections of Education Statistics to 2010" 

The National Center for Educational Statistics (NCES) released two new reports last month. The first, a 138-page report from NCES's National Assessment of Educational Progress (NAEP), presents long-term trends in the performance of nine-, thirteen-, and seventeen-year-olds in reading, mathematics, and science. The NAEP has administered assessments in these three areas since the early seventies (1969 for seventeen-year-olds in science), and this report summarizes the findings, including overall national trends, trends analyzed by student subgroup (e.g., ethnicity, gender, parent's level of education), and data on experiences at school and home that may have an impact on achievement (e.g., classroom equipment, television watching). Generally speaking, the NAEP reports that math and science performance declined in the 1970s but increased during the 1980s and early 1990s, remaining mostly stable since then. Students made modest gains in reading, and improved most clearly across the assessment years in mathematics. The second report listed is part of an ongoing series begun in 1964. The 179-page report revises projections made in last year's "Projections of Education Statistics to 2009" (see the August 20, 1999 _Scout Report_), and includes national data covering the last fourteen years and projections to the year 2010 for enrollments, teachers, graduates, and expenditures; and state-level projections for enrollment graduates to the year 2010.

From Syllabus News September 5, 2000

* Online Advising Service Helps Students Choose a College
PureAdvice  debuts its online service providing live, one-on-one college guidance and financial aid advice. PureAdvice offers professional, certified college guidance and financial aid experts will help guide students through the options and decisions of choosing a college. The site includes advice through Internet chat sessions, a set of calculators to help users create a financial profile of college costs, and college search tools to access data on all two- and four-year colleges and universities. PureAdvice is offered not only a stand-alone service, but also as a built-in service on U.S.News & World Report's .EDU site.

Free GMAT Test Prep Software

This month the Graduate Management Admission Council (GMAC) will offer the latest version of Test Preparation for the GMAT at no charge. The software includes previously administered GMAT questions and includes two GMAT computer-adaptive tests driven by the software application used for the actual exam. The Council's board of directors decided to offer the software to promote access to GMAT questions and information to all potential MBA students prior to testing. The software will be available for download from .

And the government (at all levels) is joining into the act in a very big way according to Syllabus News on September 5, 2000

Government to Collect $602 Billion Via Internet

According to a new report from Forrester Research, Inc., Sizing US Government, federal, state, and local governments will collect 15 percent of fees and taxes online by 2006, a total of $602 billion. Most government services and regulatory requirements involve the filing of an application or report by businesses and constituents. Governments at all levels will receive 333 million online sub- missions by 2006. State governments will receive the most -- 137 million in 2006 -- fueled by online business reporting. By 2006, authorities will produce nearly 14,000 total online service applications nationwide. The majority of these services will come from the nation's 35,000 cities and towns.

According to the report, this eGovernment adoption will evolve through three phases: experimentation, integration, and re- invention. Expectations for online government will rise quickly as citizens incorporate private sector eCommerce into their daily lives between 2002 and 2005, forcing governments to respond with business-focused services as well as more sophisticated, customer-centric offerings that require integration among multiple departments and address privacy concerns.

The information in the report was gathered via Forrester interviews of CIOs and other heads of eGovernment efforts at federal, state, and local governments that have already begun eGovernment implementations, as well as five international governments. For more information visit 

Hi Federico,

There are no free copies of any FASB standards, because sales of those standards are main sources of revenue to the FASB. My advice is to contact Pricewaterhouse Coopers and subscribe to their PW Researcher that contains all standards for a number of nations, the IASC international standards, and all FASB standards. You can get this on the PW Researcher CD-ROM that is updated as new standards and interpretations come along. FAS 52 is one of those standards. One website for the PW Researcher is

The other alternative is to order FAS 52 from the FASB at

Bob (Robert E.) Jensen Jesse H. Jones Distinguished Professor of Business Trinity University, San Antonio, TX 78212 Voice: (210) 999-7347 Fax: (210) 999-8134 Email: 

-----Original Message----- 
From: Federico Aranda [
Sent: Thursday, September 07, 2000 5:01 PM 
To: Subject: Fas 52

Dear Mr. Jensen

My name is Federico Aranda, and I am trying to find out where can I get the FAS 52 because I need to evaluate if it has being properly followed in the company that I am working.

Please could you help me

Sincerely yours

Federico Aranda

Highlights of Women's Earnings, 1999 (Bureau of Labor Statistics) 

The most important bottom line conclusions that I noted from a quick scan of this report is that it really pays for a woman to get a college degree, and it hurts (income-wise relative to men) to grow older.  Women in accounting-type occupations (including clerical) earn 89%-92% of what men earn in the same categories.  These averages are so aggregated across levels of education and income that it is difficult to isolate what is happening in the higher professional levels of accountancy.

The following appeared in Bob Jensen's New Bookmarks on July 19, 2000 

"Highlights of Women's Earnings in 1999" --- 

Between 1979 and 1999, earnings for women ages 20 to 64 grew closer to their male counterparts’ earnings. The women’s-to-men’s earnings ratio among 35- to 44-year-olds, for example, increased from 58.3 percent in 1979 to 71.7 percent in 1999, and that for 45- to 54-year-olds rose from 56.9 percent to 70.1 percent. The earnings ratio for teenagers and the ratio for workers age 65 and over showed no definitive trend over the period. (See table 13.)


The earnings difference between women and men was widest for whites, with white women earning 75.7 percent of what white men did. Among blacks, women earned 83.7 percent of what men earned, and Hispanic women made 85.7 percent of Hispanic men’s earnings. (See table 1 and chart 2.) • Between 1979 and 1999, inflation-adjusted earnings for white women increased 22.0 percent, while black women’s real earnings rose 12.4 percent.1 Earnings for Hispanic women were little changed over the period. (See table 14.)


In Table 3, the median weekly earnings for accountants and auditors shows $651 for women and $891 for men.

Women shattering the glass 
From NewMedia [] on April 18, 2000

Women in Management: Breaking the Glass Ceiling?
A new study finds the number of women in top management positions at 
high-tech firms doubled last year from the previous year. But how many
are CEOs? That's another story.

Women Partners Gaining Ground at Top Firms ---  

Related sites

Work of Women --- 

Women in Print September 14-15, 2001 Madison, WI 

American Memory and more (history) --- 

Vital Statistics of the United States, 1997, Volume I, Natality 

Psych Web 

Online Prices Not Created Equal Variable pricing has hit the Web. Amazon charges different prices for the same products depending on who visits, and that's hacking off some loyal customers.,1367,38622,00.html 

Sounds like it is time to wipe out those telltale cookies on our systems!

Microsoft intentionally made it difficult to find where companies drop cookies in your system when you visit their websites.  Andrew tells us how best to discard those stale cookies.

For those interested in Cookie Pal, you can find it at 
Andrew Priest

If you are stocking a business and economics library of databases, you might be interested in the University of Wisconsin library of databases at 

You may also want to take a look at 

Rome: Republic to Empire (history) 

Olympic History (photography) 

Glorifying the disaster --- 

From the Scout Report on September 5, 2000 

FEED Magazine 

FEED, one of the Web's most compendious 'zines, offers an original and insightful source of information on a wide variety of topics, such as "media, technology, science, the arts, and other aspects of pop culture." _FEED_ features regular monthly columns, as well as numerous other frequently posted articles and essays. Featured at the site at the time of our visit were such offerings as an interview with a Penn State professor who has invented a kind of "aura sniffer"; a reluctantly admiring piece on prog rock; an examination of the effect of e-commerce on urban street culture; a look back, ten years later, at the propaganda of Operation Desert Storm; and an essay that explains why the decoded human genome is not a biological Philosopher's Stone. Past articles can be accessed from the front page, as can several special issues that focus on particular topics; in addition, a discussion forum called The Loop allows readers to chime in with their opinions. Users should be advised: the discovery of one interesting, well-written article after another can easily turn a quick visit to _FEED_ into a lengthy stay.

You may want to note the Best of FEED at 

The Penn State professor mentioned above in Gary Settles from the Department of Mechanical Engineering.  The link is at 

It's a rare piece of tech that manages to simultaneously capture the imagination of the New Agers and invasion-of-privacy obsessives. And it's even more unlikely that the invention that would unite these two communities would emerge from the field of thermodynamic imaging. But Penn State Professor Gary Settles managed to do just that when he unveiled Patent No. US6073499: the aura sniffer. The name conjures up images of a whole new way to do personnel screening: "Sorry, your aura is bile green, and we just don't think you're spiritually advanced enough to fit in around here..."

Sadly, the U.S. Patent Office insists on referring to Settles' invention by a somewhat less zippy, but more explanatory name; they call it a "chemical trace detection portal based on the natural airflow and heat transfer of the human body." It's a machine for quickly (the whole process takes ten seconds) sampling and then analyzing the contents of the thermal plume: the invisible cloud of hot air, skin particles, and trace chemicals that surrounds every human, from the feet up. The idea is that the portal will be put in place at airports and used for explosives detection. But the other possible uses -- drug screening and genetic testing among them -- are enough to present new concerns for those worried about their rapidly disappearing privacy.

We caught up with Professor Settles recently, and talked with him about auras, potential uses (and abuses) for the portal, and the history of schlieren imaging, a thermodynamic imaging technique that goes back two hundred years. We also got the scoop on his next research project -- the artificial dog nose.

I imagined up a few jokes and poems over this one, but I will refrain from repeating them here since this is an important and dignified piece of research.

What'sNu in education websites --- 

Bach Digital (music) 

NPR: America's Greatest 20th Century Music --- 

The FEI magazine called Financial Executive has an excellent article entitled "Accounting Fraud:  Learning from the Wrongs," by Paul Sweeney, Financial Executive, September/October 2000, pp. 18-22.  The free online version is at  

Among other things, this article summarizes findings in a significant PricewaterhouseCoopers study.  Unfortunately, Paul Sweeney does not do a good job referencing this PwC study, and the PwC website (like most Big 5 websites) is a very difficult place to find specific things in most any search (especially publications).

From Yahoo on September 11, 2000

Electronic Literature Organization --- 

First there was the groundbreaking Project Gutenberg, a collaborative effort to distribute world literature in electronic format. Now, e-books, e-ink, e-publishing, and e-reading devices are part of the daily buzz. The newly launched Electronic Literature Organization aims to serve as hub and gathering place for literati of the Net, providing news, resources for authors and readers, and a growing showcase of online work, from avant-garde hypertexts and visual poetry to more familiar fiction and non-fiction formats. The ELO is also building a directory, which promises to grow into a valuable catalog of digital authors and their online work.


The Golem Project --- 

Tired of using the idle CPU cycles on your networked computer to search for intelligent life in a cold, unfriendly universe? Maybe you'd prefer cultivating a little artificial intelligence closer to home. The Golem@Home Project is a distributed computing experiment that uses the Internet environment to automatically design, evolve, and manufacture prototype robotic lifeforms. You participate by downloading a screensaver designed by scientists at Brandeis University, then, whenever your machine is idle, you sit back and watch the colorful tubular entities evolve all by themselves. Golem (Genetically Organized Lifelike Electro Mechanics) is actually named for a legendary giant clay man.

A FEDERAL JUDGE ruled that willfully infringed Universal Music Group's copyrights when it created the online database Damages were set at as much as $250 million.  

Why college bookstores are having a tougher time competing with the online textbook sellers, New and Used Books from Barnes & Noble --- 

If nothing else, these folks have one of the most interesting interactive homepages I've seen. 

Scott Bonacker [scottbonacker@MOCCPA.COM]  
CPA McCullough, 
Officer & Company, LLC 
Springfield, Missouri

Bob Jensen agrees!  This is neat stuff!

From the Scout Report on September 7 (eCommerce and Internet Business)

Internet Indicators [.pdf] 

In 1999, the Internet economy's revenues rose to over half a trillion dollars, and employment in this sector has grown to directly support 2/476 million workers, according to this site sponsored by Cisco Systems and the University of Texas. June 2000 findings of the Internet Economy Indicators are also presented in the report _Measuring the Internet Economy_, which examines the Internet economy in layers of indicators. The first layer looks at the Internet infrastructure, which consists of telecommunications companies, Internet carriers, and Internet service providers. The second Indicator, the Internet Applications Infrastructure Indicator, studies Internet software products and services. Layer three, the Internet Intermediary Indicator, includes businesses conducting transactions on the Web, and the final layer, the Internet Commerce Indicator, looks only at companies that conducted Web-based commerce transactions. Each of these layers is carefully explained in the report. The site includes case studies for each of these indicators and offers a Big Picture overview of the Internet economy. Along with these explanations and snapshot views and others, the entire report may be downloaded in .pdf format.

Click-and-sniff computers due soon --- Surfing the Web will never be the same
By Eric Auchard 

NEW YORK, Sept 6 — Welcome to the era of click and sniff. The nose may know what the computer can only guess at but virtual aromas may soon be wafting to a keyboard near you

DigiScents’ smell-sensing technology, which consumers can expect to begin seeing in advertising, shopping, travel and video-game settings as early as this Christmas season, promises to recreate thousands of different odors. 
This is a search engine focused on financial and investment news. 

Don't forget Bob Jensen's search helpers and links at 

Everything you wanted to know about options investing (except on how to account for them under FAS 133)
Optionetics Education Center --- 

Women's Institute for Financial Education 

"Anatomy of a Recall" --- Time Magazine,2960,53931-101000903,00.html 


September 10th edition of the Internet Essentials 2000 Newsletter --- 

1. Socially Responsible Businesses Gain Respect Read about Paul Neuman's trip to HASS 
2. RSA Encryption Now Freely Available 17 years of patent protection are over 
3. eAI Magazine: Internet Messaging and The Fourth Wave Wireless will impact your company's I.T. 
4. "The dirty secret of educational technology is that computers waste teachers' time." One man's opinion. 
5. Hold On, I've got a Bill Coming on my Cell Phone! Can you send my cell phone a copy, please? 
6. XML NEWS! Live Feed for all News about XML All the XML you need to know!

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of September 11, 2000

1. The Week's Top Accounting News 
2. A Free Service from Pro2Net and VerticalOne 
3. Feature Solutions Articles in Brief 
4. How to Get Answers to Your Complicated Tax Questions

Pro2Net Accounting Students Newsletter  September 5, 2000

1. Visualize Yourself Taking the Exam 
2. Account for Your Future Scholarship Winners 
3. U.S. News & World Report Announces Top Undergraduate Accounting Programs 
4. Receive a Free CMA on CD-ROM Demo Disk 
5. CPA Exam Review Contest Extended

Forwarded by Debbie Bowling


You know exactly how to get to the "Ghost Tracks" from anywhere in town. 
You thing "pro-choice" means flour or corn tortillas. 
You think being able to read the Taco Cabana menu makes you bilingual. 
You used to live in a neighborhood you wouldn't even drive through now. 
There has not been a road crew on your street since before the Alamodome was build. 
You remember when Crossroads mall used to be called Wonderland. Playland park...enough said! 
You remember when KTSA was the #1 station in town. 
Your idea of culture is wearing a Spurs T-shirt. 
You do your shopping at the Flea Market. 
You have 3 Rodeo outfits but have never been on a horse. 
You know the "real" definition of FIESTA is "stay home if at all possible." 
You have ordered Mexican food at a Chinese restaurant. 
You remember the Joske's Christmas display. 
You remember Joske's period. 
You know that Wheatley and Brackenridge is the same school. 
You know who plays in the Chili Bowl, Gucci Bowl, and Frontier Bowl

Forwarded by Dick Haar

My wife chewed me out at the company picnic a while back. She said, "Doesn't it embarrass you that people have seen you go up to the buffet table five times?"

"Not a bit," I replied. Then I added, "I just tell them that 'I'm filling up the plate for my wife'."

Forwarded by Bev Koebrich [

  1.  You and your teeth don't sleep together.
  2.  Your try to straighten out the wrinkles in your socks and discover you aren't wearing any.
  3.  At the breakfast table you hear snap, crackle, pop and you're not eating cereal.
  4.  Your back goes out but you stay home.
  5.  When you wake up looking like your driver's license picture.
  6.  It takes two tries to get up from the couch.
  7.  When your idea of a night out is sitting on the patio.
  8.  When happy hour is a nap.
  9.  When you're on vacation and your energy runs out before your money does..
  10. When you say something to your kids that your mother said to you and you always hated it.
  11. When all you want for your birthday is to not be reminded of your age.
  12. When you step off a curb and look down one more time to make sure the street is still there.
  13. Your idea of weight lifting is standing up.
  14. It takes longer to rest than it did to get tired.
  15. Your memory is shorter and your complaining lasts longer.
  16. Your address book has mostly names that start with Dr.
  17. You sit in a rocking chair and can't get it going.
  18. The pharmacist has become your new best friend.
  19. Getting "lucky" means you found your car in the parking  lot.
  20. The twinkle in your eye is merely a reflection from the sun on your bifocals.
  21. It takes twice as long - to look half as good.
  22. Everything hurts, and what doesn't hurt - doesn't work.
  23. You look for your glasses for half an hour and they were on your head the whole time.
  24. You sink your teeth into a steak - and they stay there.
  25. You give up all your bad habits and still don't feel good.
  26. You have more patience, but it is actually that you just don't care anymore.
  27. You finally get your head together and your body starts falling apart.
  28. You wonder how you could be over the hill when you don't even remember being on top of it.

Forwarded by Bev Koebrich [

She was so blonde...     .....

she took a ruler to bed to see how long she slept.   .....
she sent me a fax with a stamp on it.   .....
she thought a quarterback was a refund.   .....
she tried to put M&M's in alphabetical order.   .....
she thought Boyz II Men was a day care center.   .....
she thought Eartha Kitt was a set of garden tools.   .....
she thought General Motors was in the army.   .....
she thought Meow Mix was a CD for cats.   .....
she thought TuPac Shakur was a Jewish holiday.   .....
under "education" on her job application, she put "Hooked on Phonics."  .....
she tripped over a cordless phone.   .....
she spent 20 minutes looking at the orange juice can because it said "concentrate."   .....
she told me to meet her at the corner of "WALK" and "ONE WAY."   .....
at the bottom of the application where it says "sign here," she put "Sagittarius."   .....
she asked for a price check at the Dollar Store.   .....
she studied for a blood test.   .....
she thought she needed a token to get on "Soul Train."   .....
she sold the car for gas money!   .....
when she missed the 44 bus, she took the 22 bus twice instead.   .....
When she went to the airport and saw a sign that said "Airport Left," she turned around and went home.   .....
When she heard that 90% of all crimes occur around the home, she moved.   .....
she thinks Taco Bell is the Mexican phone company   .....
if she spoke her mind, she'd be speechless.   .....
she thought that she could not use her AM radio in the evening.   .....
she had a shirt that said "TGIF," which she thought stood for  "This Goes In Front."

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on September 12, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


September 5, 2000

Quotes of the Week:  

e-Deep in conversation.
Betty Hollins

I(nternal) R(evenue) S(ervice): We've got what it takes to take what you've got.
Seen on a back bumper

Hang up and drive!
Seen on a back bumper

When you build bridges you can keep crossing them.
Rick Pitino (Lead to Succeed, Broadway Books)

We must be willing to get rid of the life we've planned, so as to have the life that is waiting for us.
Joseph Campbell

September tries its best to have us forget summer.  (Not in Texas)
Bern Williams

And this is good old Boston 
The home of the bean and the cod, 
Where the Lowells talk to the Cabots, 
And the Cabots talk only to God -

Dr. John Collins Bossidy, 1910 (as quoted recently in an appropriate place by Roger Collins)

New Short Cases for FAS 133 Instructors and Practitioners

FAS 133 Hedge Accounting Ineffectiveness Testing Short Cases ---  
The above document was specially prepared for my Year 2000 KPMG Workshops that I am conducting with Ira Kawaller in Chicago October 12-13, New York City November 2-3, and Las Vegas November 30-December 1. Persons interested in attending these workshops may contact Lysle Hollenbeck at  [

I will be providing an overview of most of the cases listed at 

Note in particular that I have some relatively short (relatively short in terms of the cases listed below) that expand upon FAS 133 Appendix A Problem 7 versus Appendix B Problem 7.  You can proceed directly to those short cases by downloading the Excel Workbook 133ex07a.xls file at 

In that same workbook, I extended a KPMG example on foreign currency hedging of an equipment purchase.  Whereas KPMG assumed perfect hedge effectiveness, I added examples of both immaterial and material hedge ineffectiveness.  Go to my 133ex07a.xls file at 

I have also improved my Excel Workbook expansions of Appendix B Examples 9 and 10.  These are in files 133ex09.xls and 133ex10.xls files that can be downloaded from 

Featured Article of the Week 

"Rethinking the human factor," by Paula Shaki Trimble, Federal Computer Week, August 28, 2000 --- 

Rutgers has completed a three-year, $780,000 research project funded by the National Science Foundation to develop systems that will replace the keyboard and mouse with devices that track the user’s gaze, respond to voice commands and enable the user to move icons on the screen with a gloved hand that registers motion.

During the project, the Army National Guard of New Jersey demonstrated the ability of military planners to more accurately and more easily collaborate on military planning procedures using the system, called the Speech, Text, Image and Multimedia Advanced Technology Effort (Stimulate).

Stimulate is a joint initiative of NSF’s Computer and Information Science and Engineering Directorate, the National Security Agency’s Office of Research and Signals Intelligence Technology, the CIA’s Office of Research and Development, and the Defense Advanced Research Projects Agency’s Information Technology Office.

Rutgers researchers used a combination of prototype technologies to study how people interact with computers employing systems that offer multiple modes of communicating — sight, sound and touch, said Edward Devinney, senior associate director of Rutgers’ Center for Advanced Information Processing (, where the Stimulate research was conducted. The research team plans to deliver its final report to NSF within a few weeks.

"We’ve found it is faster to use multimodal input," Devinney said. If someone who’s never used a computer is told to grab an object using a glove, the tendency is to just grab in a natural way, he said, while it takes some time to become comfortable with a mouse.

The system uses special software called Fusion Agent to teach the computer to interpret what the user wants and to prioritize the activities, he said. For instance, in a situation where a user looks at one thing but says another, the computer may be programmed to always follow the voice command.

A key part of the system is a force-feedback glove, patented by Rutgers, which reads gestures by detecting fingertip positions relative to the palm. When a user points to or picks up an object on the screen, the user receives feedback in the form of pressure from the glove. The glove weighs less than three ounces.

The system also employs a gaze tracker. Rather than a headpiece, the device is a unit mounted on the desktop that rotates to detect where the user is looking. The user can direct a cursor just by looking at the computer screen. Voice recognition and voice synthesizing software can understand simple commands and respond audibly.

For instance, if a military user tells the computer to create a camp, it will place the new camp where the user’s eyes are pointed or where the user points with the glove and then respond that it has created the camp. "We’ve got quite a playground here," Devinney said.

Users can work together from different locations through a standard Internet connection or other type of network. The users would launch Rutgers’ object-oriented groupware called Distributed System for Collaborative Information Processing and Learning (Disciple), which integrates the inputs from the various devices on the user end into logical commands.

Devinney said potential applications include battlefield management, tele-medicine and other types of collaborative decision-making during which users are mobile. The Rutgers team has suggested to the Defense Advanced Research Projects Agency that it employ an enhanced version of the system for designing the command post of the future. According to that proposal, users would collaborate around a three-dimensional situational map, moving assets around or identifying units and using the glove to retrieve information about the unit’s readiness and size.

Seven participants from the Training Technology Battle Lab at Fort Dix, N.J., spent several months field-testing disaster-relief scenarios in which military planners could collaborate remotely to decide how to deploy resources and assess the terrain on a map-based display.

"The advantage is the ability to be able to see the map and the activity on the map," said Brig. Gen. William Marshall, deputy State Area Command commander for the New Jersey Army National Guard.

Marshall said the Rutgers Multimodal Input Manager led to the concept of the digital battlefield, in which planners can test a possible movement and see its impact.

Because moving an icon that represents a military unit automatically generates a wide variety of technical information about the action, such as position or number of personnel in the unit, the Rutgers system saves considerable time and redundancy, Marshall said.

"If you move a flag on a flat map, you have to record the data in two or three places. It’s one entry vs. three with grease pencils," he said.

Devinney said the system has potential for helping people with disabilities access computers. For example, the glove is being used elsewhere at Rutgers as a physical therapy tool for people with hand injuries.

Featured Websites of the Week come to us from Carylyn Kotlas at Infobits

Two recent issues of the JOURNAL OF ASYNCHRONOUS LEARNING NETWORKS are special issues that include case studies presented in August 1999 at a Sloan Foundation-sponsored, invitation-only, workshop at the University of Illinois in Urbana. The main topics at the workshop were:

Learning effectiveness: JALN, volume 4, issue 2,  and Faculty satisfaction: JALN, volume 4, issue 3, 

The Journal of Asynchronous Learning Networks [ISSN 1092-8235] is published online by Vanderbilt University for the Asynchronous Learning Networks Web. Back issues are available on the Web at  For more information contact, John Bourne, Editor, P. O. Box 1570, Station B, Nashville, TN 37235 USA; tel: 615-322-2118; fax: 615-343-6449; email: 

The objectives of the ALN Web are to provide "(1) a focal point for information interchange among researchers and practitioners in the field of asynchronous learning networks and (2) a scholarly reviewed on-line journal which captures the archival knowledge of the field." For more information see 

The INTERNATIONAL REVIEW OF RESEARCH IN OPEN AND DISTANCE LEARNING (IRRODL) is new online refereed journal whose purpose is "to contribute and disseminate to practitioners and scholars worldwide scholarly knowledge in each of three areas: theory, research, and best practice in open and distance learning." Articles in the first issue include: "Theoretical Challenges for Distance Education in the 21st Century: A Shift from Structural to Transactional Issues," "Digital Learning Environments: New Possibilities and Opportunities," and "Current Developments and Best Practice in Open and Distance Learning."

International Review of Research in Open and Distance Learning [ISSN 1492-3831] is published by Athabasca University, 1 University Drive, Athabasca, AB T9S 3A3 Canada; email: 


"The challenges of measuring and identifying student learning and attributing that outcome to particular practices are as difficult in a distance-learning environment as in a traditional classroom. So you fall back on consensus over pedagogical strategies and whether they're applicable. . . . The research often comes up with this 'no-significant-difference finding' between a distance-learning or electronic mode and a traditional-delivery mode. I don't think that's good enough. To justify the investments, we're going to have to show some real learning gains." In "Logging in with . . . James R. Mingle: Measuring Students' Learning is a Major Challenge for Distance Education" [THE CHRONICLE OF HIGHER EDUCATION Distance Education, August 25, 2000], Dan Carnevale interviews James Mingle, senior policy adviser for the Southern Regional Education Board's Distance Learning Policy Laboratory and head of a subcommittee studying faculty issues that evolve with the growth of online education. You can read the interview online at 

One of the modules in my CPE Workshop 1 in Philadelphia on August 12 was a presentation by Dan Stone on the University of Illinois SCALE experiments (probably the most extensive and expensive experiments ever conducted on asynchronous learning).  I am working on a way to get the entire six-hour workshop available to the world in some form.  Presently, I am working on getting server space for the entire workshop on MP3 audio.  If you are interested in asynchronous learning experiments, you will want to learn more about what Dan found out while investigating the SCALE experiments.  In the meantime, I have some older material about SCALE at 

As always, we seek illuminating articles that will assist educators as they face the challenge of integrating information technology tools in teaching and in managing educational organizations. Please review our call for manuscripts at  and send me a note if you would like to contribute such an article.

Jim -- James L. Morrison  
Professor of Educational Leadership CB 3500 Peabody Hall 
Editor, The Technology Source UNC-Chapel Hill  Chapel Hill, NC 27599-3500 Editor Emeritus, On the Horizon Phone: 919 962-2517  Fax: 919 962-1693


Anyone who has taken a college course knows what happens after the final; instructors pass out the infamous course evaluation sheet--the remaining obstacle between students and their long-awaited semester breaks. With their backpacks already slung over their shoulders and their car keys in hand, students typically scribble out their ratings of course content and teacher performance in about twenty seconds flat before scooting out the door. Is there any way that instructors and administrators can receive more thoughtful feedback from students? Keith Hmieleski and Matthew Champagne argue that Web-based evaluation is a much better method of review. High-tech course evaluation, they explain, wards against the all-too-common "autopsy approach," whereby instructors use evaluation results to determine what went wrong in a course only after the course is over. Hmieleski and Champagne thus inaugurate our new assessment section, which results from collaboration with the American Association for Higher Education's TLT Group.

Conferences have long been important opportunities for professionals to exchange ideas, present current trends in their fields, and develop relationships with their colleagues. As the influence of technology permeates the professional world more and more, many conferences are now taking place, at least to some degree, over the Internet. According to James Shimabukuro, there are two key challenges to the success of these virtual professional gatherings: balancing face-to-face and virtual interaction, and maintaining flexibility in terms of conference scheduling. Shimabukuro's Vision of the future of tech-savvy conferences draws on his five years of experience with the Teaching in the Community Colleges Online Conference.

While Shimabukuro argues for better technology in the planning of online conferences, Joe Slowinski's Commentary addresses the challenge of insuring that teachers improve their technology use in their classrooms. "Despite growing access to technology in schools," he reveals, "the number of teachers who report using technology in the teaching and learning process remains limited." Yet while teachers seem reluctant to integrate technology fully into their courses, states are continually enacting legislation that holds them accountable for technology competency. To remedy this inconsistency, Slowinski suggests key policies that he believes will allow teacher-training institutions to model appropriate technology use to emerging educators. Most sports players can testify to the great sense of reward and accomplishment that accompanies a team's success. These same players also know the hard work and collaboration that such success requires. Since teamwork is so invaluable on the court, can't it also bring success in the professional world? In our second commentary, Peshe Kuriloff argues that it can. Collaboration among teachers and technologists, she explains, is crucial to improving instruction in all disciplines. As she has discovered in her direction of the Mellon Writing Project at the University of Pennsylvania, this kind of teamwork is a winning situation for all.

In our third commentary, Nancy Cooley and Michelle Johnston explain the many factors that impede teachers' technology use in P-16 classrooms. While Slowinski suggests that responsibility for teachers' poor implementation of technology lies with teacher-training institutions, Cooley and Johnston contend that the sources of this problem are varied and complex, requiring more broad-based solutions. As they describe, poor funding and training and insufficient incentives and rewards are just a few of the many circumstances that continue to hinder greater educational achievement. Much like Peshe Kuriloff, Cooley and Johnston argue that teamwork is the impetus for better teaching and learning. They call for collaboration among teachers, administrators, and higher education faculty to develop a comprehensive approach to technology use.

Though most of our authors advocate technology as a way of customizing our educational system for the twenty-first century, Bethany Baxter reminds us not to forget the successes of schools of the past. In our fourth commentary, she explains how technology can allow everything old to be new again in modern education. Recollecting the days of one-room schoolhouses, she suggests that the individualized learning of the past was highly effective in insuring that students mastered skills, regardless of their ages or the number of years they had attended school. According to Baxter, today's teachers can replicate and improve upon this model. She asserts, "technology gives teachers the ability to again offer every child an individualized learning plan and to implement mastery learning using an abundance of resources."

Along with Kuriloff, Cooley, and Johnston, Kathy Biggs advocates greater collaboration in her case study of Clemson University's Collaborative Learning Environment (CLE). But while our other authors focus on professional teamwork, Biggs stresses the benefits of collaboration among students and professors. Providing examples from the English, Psychology, Chemistry, and Management Departments, she explains how the CLE enhances learning, enabling students to produce better projects for their courses, easily exchange ideas with their classmates, and effectively use resources in the community and in other University departments. She notes that the CLE has risen to prominence as a learning tool at Clemson largely because of student enthusiasm, suggesting that the system is succeeding in its job of improving the future of education.

Increasingly, state governments are passing initiatives that require not only greater technology hardware in schools, but also greater technology proficiency among teachers. But as many teachers and school administrators well know, tougher standards for technology use in education do not automatically guarantee success in such integration. Dalton Young and Patricia Reed present a case study of OKTechMasters, a program in Oklahoma that picks up where state requirements leave off. By expertly training master teachers, who then model their skills to their peer teachers, OKTechMasters insures that technology training suits teachers' needs. As Young and Reed explain, the program is a positive step toward the state's ultimate goal: "to place a 'lead technology teacher' (LTT), an expert in technology infusion, in every wing of every school building in Oklahoma within five years."

In their faculty and staff development article, Nancy Levenburg and Howard Major examine the challenge of motivating faculty to take advantage of the growing prominence of distance education. According to Levenburg and Major, many professors have been slow to accept distance learning as a concept because of the traditional basis for evaluating instructor performance: research and teaching and service. They assert that faculty should instead be encouraged to adapt to new technology through rewards that motivate, such as evaluations based on student learning rather than performance in the classroom. Through techniques such as these, they explain, teachers will become excited about new possibilities through technology.

Yuehua Zhang advises that the time to get teachers excited about technology is before they are actually teaching at all. Zhang suggests that good relationships between pre-service and in-service teachers are key to good faculty and staff development. Yet successful technology training for pre-service teachers is not reliant solely on in-service mentors, Zhang explains; students can also generate excitement for technology-assisted projects during future teachers' classroom visits. Using a collaborative project between K-8 teachers and Concordia University education students as evidence, Zhang describes the way in which teachers in training can benefit from exchanges with current teachers and students alike.

Learning Web course design can often be an intimidating prospect for faculty members accustomed to teaching in a traditional way. Luckily, there is help available to those taking that first step toward high-tech teaching. In the spotlight this issue is the UMUC-Bell Atlantic Virtual Resource Site for Teaching with Technology, an online resource developed and maintained by the University of Maryland University College. As Stephen Downes explains, the site is a simple yet valuable resource for teachers who want to use technology to enhance their teaching.

In a letter to the editor, Roberto Bamberger responds to Stephen Downes' commentary in our July/August issue, in which Downes complains that Microsoft Word does not adequately accommodate speakers of Canadian English. Bamberger, of Microsoft's Higher Education Division, asserts that Microsoft's 2000 suite of tools does account for language differences such as this, and he defends Microsoft Office as allowing "more personalization and customization than any other productivity suite on the market."

In our second letter to the editor, Mary Harrsch echoes Bamberger's statements, adding that a software company's balance of advanced production with affordability for consumers can often be quite a task. Additionally, while Downes criticizes some of Microsoft Word's help features, Harrsch expresses her appreciation for the features, revealing her affinity for "Rocky" the friendly assistant.

Research Haven is a student research helper site that may also be of help to faculty --- 

Research Links

* Book Store  
Looking for cheap books, CD's, software.  Chapters.Ca offers everything you need, and best of all, at Canadian prices, stretch your US dollar as far as possible..
* Get Your Free EMAIL account here. 
Partnering with, we are please to provide you with you very own e-mail address.  Forget about Hotmail and give us a try.
* Start Earning Money Today  
Looking at making a little profit on the internet?  Check out some of these amazing new business opportunities.  Within minutes you could be making money at no cost to you.
* Participate in Surveys and Focus Groups
Green Field Online offers you an opportunity to participate in live surveys and discussion groups.
* Building a Web Site
All the tools and sites you need to build or upgrade your web site.
* On-line Dictionaries Thesaurus and Famous Quotes.
Our on-line dictionaries and thesaurus as well as a list of famous quotes are perfect companion to any research paper.
* On-line Resources
Don't have time to run to the library. Check our extensive listing or on-line journals, magazines and newspapers for past and current issues.
* On-line Libraries
Trying to save yourself a trip to the library. Check these on line libraries which include most Universities and Government organizations in North America.
* Tutorials
Having trouble where to begin or are you just looking for some assistance in your research paper. Check these sites on steps to writing papers, formatting, and basic study tips and much more.
* Free Research Papers and Writing Services
Lost for a place to start. Check this extensive list of pre-written essays and research-writing services.
(Bob Jensen thinks that pre-written essays should be eliminated.  Instructors should probably get some idea about what students downloading and why.)
* Fun Places to Visit

Find Accounting Software --- 

Completing our Online Request for Proposal (RFP) saves your time, effort and aspirin by filtering the universe of accounting solutions down to those that best fit your business. We'll put you in touch with some of the top consultants in your area so you can compare each solution side-by-side. Best of all, it's absolutely FREE and you are under no obligation.

Do the work yourself... For the do-it-yourselfer, we've made our entire database publicly available for your convenience. Conduct software searches based on your industry, operating system or application. Browse through our alphabetical listing based on software developer or product name. Once you've narrowed down your choices, a simple zip-code search will return a listing of qualified consultants in your area.

Top Ten Criteria for Selecting Accounting Software --- 

XML Capabilities for ERP Software --- 

You may find other software finders at 

Congratulations to Trinity University for once again retaining its Best in the West ranking according to US News at 

Congratulations to the Department of Engineering Science at Trinity University for leaping ahead to Rank 12 in engineering programs at schools without doctoral programs as ranked by US News at 

The Trinity University Business Administration Department has an undergraduate program national Rank 103, although unlike the engineering rankings above the business school  competition includes schools like The University of  Pennsylvania (at Rank 1)  and MIT (at Rank 2) that have doctoral programs as well as undergraduate programs.  The overwhelming majority of programs ranked in the top 100 have doctoral programs in business administration as well as undergraduate programs.  Hence, Trinity University's Business Administration can hold its head high.  The undergraduate business programs are ranked at 

Congratulations to the University of Illinois for the top accounting program ranking at 
The University of Texas has Rank 2 in Accounting.

The top rankings of business schools (including those that have no undergraduate programs) is available at 

I was asked by a colleague to rank the top undergraduate business programs in the U.S.  Between last week and now, the rankings have changed.  

The first place to start for rankings is

Undergraduate business programs are ranked (with rankings heavily influenced by student quality)  at 

Planning to become an accountant or marketing manager? Want to start your own company instead? This ranking of the country's top undergraduate business programs can help you create a list of possible schools. U.S. News first identified the 327 undergraduate business programs accredited by the International Association for Management Education. Then we asked deans and senior faculty to rate the quality of the academic program at institutions they are familiar with from 1 (marginal) to 5 (distinguished). About 45 percent of those surveyed responded. We also asked for the best programs in various specialties.


US News Rankings (Updated Last Week)
Onsite Undergraduate Business Programs
Rank/School name
Academic reputation score (5.0=highest)
1. University of Pennsylvania 4.8
2. Massachusetts Inst. of Technology (Sloan) 4.6
2. University of Michigan–Ann Arbor * 4.6
4. University of California–Berkeley (Haas)* 4.5
5. Carnegie Mellon University (PA) 4.3
5. U. of North Carolina–Chapel Hill (Kenan-Flagler)* 4.3
5. University of Texas–Austin (McCombs)* 4.3
8. New York University 4.2
8. University of Virginia (McIntire)* 4.2
10. Indiana University–Bloomington (Kelley)* 4.1
10. U. of Illinois–Urbana-Champaign * 4.1
10. Univ. of Wisconsin–Madison * 4.1
13. Purdue Univ.–West Lafayette (Krannert)(IN)* 4.0
13. Univ. of Minnesota–Twin Cities (Carlson)* 4.0
13. Univ. of Southern California 4.0
16. Emory University (GA) 3.9
16. Ohio State University–Columbus (Fisher)* 3.9
16. Washington University in St. Louis 3.9
19. Michigan State University (Broad)* 3.8
19. Pennsylvania State U.–University Park (Smeal)* 3.8
21. Babson College (MA) 3.7
21. Case Western Reserve Univ. (OH) 3.7
21. University of Arizona (Eller)* 3.7
21. University of Florida (Warrington)* 3.7
21. Univ. of Maryland–College Park (Smith)* 3.7
21. University of Notre Dame (IN) 3.7
21. University of Washington * 3.7
28. Arizona State University * 3.6
28. Georgetown University (DC) 3.6
28. Texas A&M Univ.–College Station (Mays)* 3.6
28. University of Georgia (Terry)* 3.6
28. University of Iowa (Tippie)* 3.6
28. Wake Forest University (NC) 3.6


US News Rankings (Last Year)
Onsite Undergraduate Business Programs
Rank/School name
Academic reputation score (5.0=highest)
1. Massachusetts Institute of Technology 4.6
1. University of Michigan–Ann Arbor 4.6
1. University of Pennsylvania 4.6
4. University of California–Berkeley 4.5
5. University of North Carolina–Chapel Hill 4.3
5. University of Texas–Austin 4.3
5. University of Virginia 4.3
8. Carnegie Mellon University (PA) 4.2
9. Indiana University–Bloomington 4.1
10. New York University 4.0
10. University of Illinois–Urbana-Champaign 4.0
10. University of Southern California 4.0
10. University of Wisconsin–Madison 4.0
14. Purdue University–West Lafayette (IN) 3.9
14. University of Minnesota–Twin Cities 3.9
16. Emory University (GA) 3.8
16. Ohio State University–Columbus 3.8
16. Pennsylvania State University 3.8
16. University of Washington 3.8
16. Washington University (MO) 3.8
21. Michigan State University 3.7
21. Texas A&M University–College Station 3.7
21. University of Arizona 3.7
21. University of Florida 3.7
21. University of Maryland–College Park 3.7
26. Arizona State University 3.6
26. Babson College (MA) 3.6
26. Case Western Reserve University (OH) 3.6
26. Georgetown University (DC) 3.6
26. University of Georgia 3.6
26. University of Notre Dame (IN) 3.6


The other rankings are at 

Educators' Portal --- 

Educational Media LLC, located in Stamford, Connecticut, publishes the following education related magazines:

Curriculum Administrator: The magazine for leaders in K-12 education. Matrix: The magazine for leaders in higher education. .edu/magazine: The educators guide to the Internet's impact on education. SchoolTone magazine: In-depth coverage of the SchoolTone Alliance and the web-based products and subscription services of its member companies. Our address is...

992 High Ridge Road Stamford, CT, 06905

phone: (203) 322-1300 fax: (203) 329-9177.

Integrating Computer Technology into the Classroom, by Gary R. Morrison , Deborah L. Lowther, and Lisa DeMeulle ---,2581,013270000X,00.html 

From Syllabus News on August 29, 2000

Test Preparation Materials on Handheld Devices Kaplan, a provider of educational and career services for individuals, schools and businesses is offering a summer promotion for students applying to college and graduate school. "Kaplan To Go" test preparation software is now available for handheld computers from Palm, Inc. through Palm's Road Scholar promotional CD-ROM. Through September 15, 2000, new buyers will receive Road Scholar, an education sampler CD-ROM when they register their Palm handheld computers. The Road Scholar CD features Kaplan's test prep material, including content for the SAT and GRE exams. The Kaplan content includes analysis of the test, practice test questions, and test- taking strategies.

For more information visit 

From Syllabus News on August 29, 2000

Mobile Computing in Modern Healthcare Wake Forest is the first medical school in the nation to fully implement a program in which students use mobile applications throughout the course of their clinical training. Aether Systems, Inc. provider of wireless data products and services, has an- nounced that Wake Forest University (WFU) School of Medicine has successfully deployed Aether's ScoutWare solution to bring mobile computing into its medical training curriculum. Under this program, Wake Forest is using Aether's synchronization and data management software to enable medical students to record patient and clinical training data "on the job" through the use of mobile handheld devices.

As students at the Medical School enter their third year of medical training -- moving out of the classroom and into hands-onclinical situations -- they carry Palm handheld computing devices to record important data while at the hospital or clinic, and then transmit the day's information to the Medical School's centralized database by placing the devices into cradles located throughout the Medical Center. Both students and faculty can then review the information at any time, tracking both patient treatment programs and students' progress toward fulfilling their training requirements.

For more information about Aether visit

From Syllabus News on August 29, 2000

Web Site to Support University Engineering Programs Xilinx, Inc., in partnership with the Department of Electrical and Computer Engineering at Michigan State University, announced the launch of the Xilinx University Program Resource Center web site at Designed to support universities that include programmable logic technologies in their curriculum and use Xilinx products in classrooms and laboratories, the site serves as an online sharing tool to link engineering professors and students worldwide. The site provides access to current research and projects at participating universities as well as links and references related to electrical and computer engineering. The site also contains an online support system consisting of a mailing list, discussion board and e-mail responses to posted questions.

Developed by the Department of Electrical and Computer Engineering at Michigan State University, the site aims to enhance collaborative research efforts among universities participating in theXilinx University Program. A Xilinx scholarship valued at $100,000 provides funding for two graduate students from Michigan State University to manage and maintain the site.

For more information about other programs offered through the Xilinx University Program visit 

"Automated Digital Libraries: How Effectively Can Computers Be Used for the Skilled 
Tasks of Professional Librarianship?"
 [D-LIB MAGAZINE, vol. 6, no. 7/8; July/August 2000] --- 

50 Free Web publishing tools --- Everything you need to publish online: HTML editors, database converters, code validators, servers, and more. 

From Infobits on August 31, 2000

The full text of LEARNED PUBLISHING articles from volume 10, 1997
onwards are now available online at no charge at 
Articles in the latest issue (July 2000) include: "Universities and
Article Copyright," "Setting Up a First Website for Society
Publications," "E-Citations: Actionable Identifiers and Scholarly
Referencing," "Promises and Challenges of Electronic Journals: Academic
Libraries Surveyed," and "What Can Technology Offer? Notes on Technical
Developments for the Non-Technical."

The most popular computer products --- 

From Neal Hannon on September 1, 2000

Formal work in the area of XML glossaries of terms is well documented at the web site. 

I am working with the steering committee.  We have developed a taxonomy, or data dictionary, for identifiying the elements of financial statements compiling with US GAAP.  XML Schema is being used to provide more flexibility in the expressiveness of DTD's. 

DTDs are part of the XML family of standards but do not use XML document syntax.  DTDs also do not provide the mechanism for specifying the fundamental type of an element or attribute.  XML Schema, although not yet a formal W3C recommendation, provides this ability.   The entire taxonomy and examples are posted at the Web site.

Books that cover schemas simply include "Teach yourself XML in 24 hours" by Ashbacher, "XML, a Manager's Guide", by Dick.  I hope this information helps.


The Journal of Accountancy, September 2000, p. 19 provides links to charity databases --- charities that collect more than $25,000 annually must file an annual information statement, form 990, with the government. Although the statement doesn’t break down fund-raising and operational costs, it does give a glimpse into the charity’s overall financial health. site includes a searchable database of more than 640,000 nonprofit organizations. It allows users to locate charities based on subject, state, zip code or other criteria. It also lists all charities that have filed a form 990 with the IRS. The National Charities Information Bureau rates 400 national charities and assesses how they work. While the NCIB charges a fee for these profiles, a client considering a large donation will find the cost worthwhile. The National Society for Fund-Raising Executives is an organization that holds its members to a strict code of ethics, which requires the largest possible percentage of funds raised to go directly to the cause supported. There are over 400,000 NSFRE members; a charity that is a member is probably being run efficiently. 

The Journal of Accountancy, September 2000, p. 24 has a helpful section called "Smart Stops on the Web." --- 

Find ISPs and ASPs ASAP

For users interested in finding an application service provider (ASP)—for Web-based, pay-per-use programs—this portal is a good starting point. It offers recent ASP industry news, classified ads and links to other ASPs for specific industries, for example, finance and project management. This site also includes a search engine that, when queried for tax software, listed 20 different packages.

Support Your Local Portal

The Computer Help Portal features links to the trouble-shooting and help-desk sections of various vendors’ home pages. Users can search a number of directories to find assistance for problems with modems, multimedia, and accounting and tax software applications, for example. Free registration allows users access to information on specific products—for example, frequently asked questions, forums and message boards, and telephone support for computer problems.

Start Your Software Search Here 

This site boasts a powerful search engine, CPA Online PowerSearch, that, in addition to scanning its own site, links to a dozen Web search engines to locate exactly what you need. Users can find specific definitions for key terms and stock quotes for companies by prefixing a query with either DEFINE or QUOTE.

An Online Directory and Index 

This site offers hundreds of links to tax and accounting Web resources broken down into groups and subgroups. For example, the Tax Sites section lists Tax Software as a topic; click on it and find more than a dozen subtopics—tools and calculators, tax forms, publications and research, for example.

Hurray for Yahoo! 

Yahoo’s Finance section includes a Tax Center with many useful features, such as tax calculators, tax preparation checklists, online filing resources and tips on a dozen topics including charitable contributions, home and property, and retirement planning. News and links to tax software sites are available, as well as a detailed glossary of terms and definitions.

“Tax Information for Everyone” 

Sponsored by Drake Software, this site links users to all state tax forms and accompanying instructions, as well as to all state departments of revenue. The News Room section contains linked articles, mostly from the IRS Web site, on changes in tax laws, e-filing and updates on the service’s latest technological advances.


Find Definitions for Abbreviations  (You can find this and a long list of similar helpers at )

Web users will want to bookmark this site for future reference. It lists more than 150,000 acronyms and abbreviations, along with what they all stand for. A user can search subject areas such as information technology, telecommunications, the military and government.

America Is Online 

Log onto this site to sign up for free e-mail delivery of the weekly electronic magazine, Access America E-Gov E-Zine, which reports on the government’s involvement in, and programs dealing with, information technology. Users can search the archives for information on business tax filing, criminal justice, the environment, federal government payments and international trade.

BNA’s Online News Center 

The Bureau of National Affairs Intellectual Property Center is one of four online centers—including corporate law, labor and employment law, and litigation—where users can access the latest news on topics such as domain names, online patents and software licensing as well as links to related sites.

StockSeekers Goes Multilingual 

This site, which offers daily English-language reports of current stock options, a free newsletter, a glossary of terms and an online calculator, now provides these features in five other languages—French, German, Italian, Portugese and Spanish. To access any of these alternative sites, go to The same information and options appear on all versions.

A Site of Their Own 

AskJeeves has grown in popularity since it was first mentioned in this column three years ago (see JofA, Jul.97, page 18), so much so it now boasts an offspring, AskJeeves for Kids. The site is primarily a research tool for homework and studies, but AskJeeves also has added a few online games and other activities. More importantly, the site includes only G-rated Web pages and others written expressly for children.

The hype and wording below seems a bit of an oversell that turns me off.  Net Detective --- 

Takes You Beyond What Search Engines Can Do. Stop Wasting Your Time on Searches that go Nowhere! Download Net Detective and discover the EASY WAY to find out THE TRUTH about anyone. You Can Even Discover What The FBI Knows About YOU. - Guaranteed-

Every business outcome is affected to some extent by variables
not quantified in financial statements.  I salute your work.
Improvements in reporting for many of these intangibles,
such as knowledge assets, IP, market performance, etc. have
actually been achieved by professions who compete with CPAs
such as data warehouse profession, and investment analysts.
The effective storage of richer attributes on transactions
is one of the keys to producing reports that are more relevant
to predicting future business outcomes.  These attributes
increasingly include keys to external customers, suppliers,
market segments, product segments, etc. in the macro-economic
environment.  Ultimately, all transactions are interconnected
with parties, and they are all about "products" or services
which have a shared description ni the source document agreed
between adverse 3d parties.  DO you see why I am excited about
Improving stewardship of those XML attributes is one of the
 motivations for rethinking the GL. 
The design of rootledgerXML supports a fact table within
a star or snowflake schema.  In other words, the small business
GL becomes data warehouse hypercube, with this schema.
Labor savings by automating the entire workflow are of course
the principle drivers in redoing the GL.  The GL must be
reworked at least minimally, to conduct business over the internet.
My ballpark is $150 Billion savings 
Todd Boyle [] 

A free e-readiness report --- 

To Bob at BobWeb,

To consider as a new bookmark (you added Paul Brians's study guides site in December 1999, but I don't think you have this one he put together on English usage.) Got this one from . 

Ed Scribner Professor of Accounting Department of Accounting & Business Computer Systems Box 30001/MSC 3DH New Mexico State University Las Cruces, NM 88003-8001 =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

Common Errors in English --- (we make more of them in these days of email and the Internet, partly because in the old days on the telephone we did not have to spell each word).

I'm learning English as a second language. Will this site help me improve my English?

Very likely, though it's really aimed at the most common errors of native speakers. The errors others make in English differ according to the characteristics of their first languages. Speakers of other languages tend to make some specific errors that are uncommon among native speakers, so you may also want to consult sites dealing specifically with English as a second language (see and There is also a Help Desk for ESL students at Washington State University at An outstanding book you may want to order is Ann Raimes' Keys for Writers.

Tax Cape is an interesting and somewhat controversial website from the standpoint of international financing and taxation.  Among other things it compares 50 leading financial sites around the world   --- 

I received this email requesting that I add this message to New Bookmarks:

Your TaxCape Team
TaxCape Anstalt  
Landstrasse 30 FL-9494 Schaan Furstentum Liechtenstein 
Tel.: +423 238 11 68; Fax: +423 238 11 69 

"Making a Game of Web Searches," by Lisa Picarille,1284,38496,00.html 

Called Web Challenge, the show pits three pairs of teams equipped with laptops and Net connections against each other to answer trivia questions. But in this game knowing the answers is not enough -- contestants can only score points by finding the correct answers on the Web.

Web Challenge has no rules regarding which search engine contestants use, or how many browser windows can be open simultaneously. Contestants bypass search engines and go directly to informational sites such as or the Internet Movie Database to get their answers. The first team to find the right answer wins $150. But if no one answers correctly within the two-minute time limit, the prize is forfeited.

The teams are perched at podiums and share mouse and keyboard duties, while the host peers over their shoulders and asks questions about their searching techniques. Cameras will monitor the Web searches so that viewers can cheer or jeer their surfing expertise.

The show is the brainchild of Stewart Cheifet, the man behind Net Café and the 17-year-old Computer Chronicles television show, which both appear weekly on PBS. Cheifet is also the producer of the "Computer Bowl" trivia challenge, a decade-old trivia game about the tech industry that pits East Coast geeks against Silicon Valley techies.

Cheifet said one of the driving forces for creating Web Challenge is statistics showing that people use the Internet and watch TV at the same time.

There are also plans for two online components to the show. Users can play along with Web Challenge as it airs on TV, or play an online version of the game.

Last week Cheifet brought in contestants and technicians to record a demonstration of what the show will look like that will be used to pitch network television producers. Cheifet is promoting Web Challenge to six networks and said there is a very high level of interest. While he declined to say which networks he was in discussions with, sources close to the production staff said the networks include Comedy Central and USA Networks.

Disability services of the U.S. Government  --- 

Forwarded by Debbie Bowling

guerrilla marketing (noun)

A marketing campaign that uses non-mainstream tactics and locations, often in defiance of local laws or statutes.

"College campuses provide the perfect venue for guerrilla marketing -- which runs the gamut from sidewalk chalking, biodegradable tree postings and stenciling to product give-aways and spray painting logos around campuses -- since students by nature are open to nontraditional marketing schemes, say experts." 
Erik Gruenwedel and Mary Power, "Street Fighters," ADWEEK, August 7, 2000

Ratings of computer stores (Reseller 

Beyond The Fall: The Former Soviet Bloc in Transition 1989-1999 (History) 

Expeditions into Myth: In Search of Seaman of Ancient Egypt (History) 

Don't trust a medicine man prescribing the things at The Quackatorium (History) 

Sounds like MS Quackery --- U.S. District judge says Bristol Technology was the victim of 'classic bait-and-switch' tactics from Microsoft. New legal woes ahead? 

Smithsonian Collection and the Library of Congress, this archive houses more than a million recordings of American roots music, songs, poems, and speeches from 1890 to the present (History, Audio) --- 

"Laptops no longer a luxury for students," By Karen Thomas, USA TODAY --- 

Preparing kids for today's world, Throckmorton says, is part of the rationale behind the shift to laptops. "The idea was to look at a real-world model: You learn when you need to learn. You don't go into a special room to learn word processing when you don't have a report due. The idea of one-to-one access was the goal."

This school year, Episcopal laptops will reach beyond the classroom even more. "In science, they will have digital probes that will collect data in real time from experiments and load it into a spreadsheet. Students will take home data and spend time analyzing and interpreting data instead of entering it into a chart," Throckmorton says.

For the football team, playbooks are intranet hyperlinks that players access from dorm rooms. Coaches' chalk talk is a computer program with animated players instead of X's and O's.

The success at Brewster, where SAT scores have risen more than 90 points, relies less on the hardware, Smith says, and more on teacher training and schoolwide philosophies and curriculum. "The laptop is the child on the parade route for the emperor. Open it up, it says, 'What do you want me to do?' " Smith says. "If the school hasn't defined itself and doesn't know what it's doing, the computer will point that out. That's the case in the vast majority of schools."

September 3rd edition of the Internet Essentials 2000 Newsletter  --- 

1. Purchasing a new PDA? Here's a Buyer's Guide 
2. Cell Phones Will Come with Frequency Emission Measurements, Chart Explains the Exposure 
3. Data-Driven XSL 
4. Will Thousands of Companies Register Their E-Business Methodology? 
5. Intel: The Future is Peer to Peer.. as in Napster-like Technology
6. XML NEWS! Live Feed for all News about XML

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of September 4, 2000

1. The Week's Top Accounting News 
2. CPAs: Earn Free CPE Credit! 
3. Feature Solutions Articles in Brief 
4. Enter to Win a Single User Fixed Asset Management System 
5. Execusite, Pro2Net Team Up

Pro2Net Accounting Students Newsletter  August 29, 2000

1. Preparing for the New Governmental Financial Reporting Module 
2. How to Fit in at the Office 
3. Do You Have the Right References? 
4. Win a Bisk CPA Review Course

Prices and technologies of the 1950's (those good old days) --- 

Real bloopers --- 

The only if not, the largest collection of funny and odd headlines, photos, and video-clips submitted from all over the US and the world. These are all actual stuff torn from real life, in other words, none of it's made up. Don't forget to put a bookmark. Hope you enjoy them :-)

Go check out the headlines. These are actual articles and clippings from newspapers, magazines, and products.

Example 1 (a mistaken combining of two classified adds)

Free To a Good Home
Rottweiler, 3 years old, female, spayed, very intelligent, loves to eat rabbits and kittens, loves to play ball with kids.  Call (614)XXX-XXXX

Example 2

A actual business name --- Steve's Landfill and Burger Pit

Example 3 (Add for a weight loss program)

 Reduction is permanent as long as you don't gain weight.

From Leila Tompert

As usual, my dad bathed my four younger brothers, including the three-year-old twins.  But after cleaning up the bathroom, he came out to find three shining faces and one that was still dirty.  Clean twin Anthony gleefully announced to our mom, "Daddy gave me two baths."

Seen on a college application form from an honest young man: (from Mark Smith)

Extracurricular Activities:  Wrestling

Positions Held:  Pinned mostly.

Be careful what you ask for, you might get it.  When a man turned 65 he asked the wish fairy for a wife thirty years younger than himself.  Zap!  He was celebrating his 90th birthday at a bash thrown by his wife.

I stay in shape.  This is just the shape I stay in.

The most expensive bracelet in her jewelry box was made of cheap vinyl.  It was the one she wore every day during a stay in the hospital.

Seen in Type

If the strike isn't settled quickly, it could last awhile.

Lawyers give poor free legal advice.

Killer sentenced to die for the second time in ten years.

In a message dated 08/28/2000 10:06:10 PM, Evibb writes:

Once upon a time the government had a vast scrap yard in the middle of a desert. Congress said "someone may steal from it at night". So they created a  night watchman position and hired a person for the job.

Then Congress said, "how does the watchman do his job without instruction?"   So they created a planning department and hired two people, one person to  write the instructions, and one person to do time studies.

Then Congress said, "how will we know the night watchman is doing the tasks correctly?" So they created a Quality Control department and hired two people. One to do the studies and one to write the reports.

Then Congress said, "how are these people going to get paid?" So they created the following positions, a time keeper, and a payroll officer, then hired two people.

 Then Congress said, "who will be accountable for all of these people?" So  they created an administrative section and hired three people, and  Administrative Officer, Assistant Administrative Officer, and a Legal Secretary.

Then Congress said, "we have had this command in operation for one year and we are $18,000 over budget, we must cutback overall cost."

So they laid off the night watchman.

Forwarded by Bob Overn

Two little kids are in a hospital, lying on stretchers next to each other, outside the operating room.

The first kid leans over and asks, "What are you in here for?"

The second kid says, "I'm in here to get my tonsils out, and I'm a little nervous."

The first kid says, "You've got nothing to worry about. I had that done when I was four. They put you to sleep, and when you wake up they give you lots of Jell-O and ice cream. It's a breeze!"

The second kid then asks, "What are you here for?"

The first kid says, "A circumcision."

And the second kid says, "Whoa! I had that done when I was born. "Couldn't walk for a year!"

Punny from Bev Koebrich []

My first job was working in an orange juice factory, but I got canned couldn't concentrate.

Then I worked in the woods as a lumberjack, but I just couldn't hack it, so they gave me the axe.

After that I tried to be a tailor, but I just wasn't suited for it. Mainly because it was a so-so job.

Next I tried working in a muffler factory but that was exhausting.

I wanted to be a barber, but I just couldn't cut it.

Then I tried to be a chef--figured it would add a little spice to my life but I just didn't have the thyme.

Finally, I attempted to be a deli worker, but any way I sliced it, I couldn't cut the mustard.

My best job was being a musician, but eventually I found I wasn't noteworthy.

I studied a long time to become a doctor, but I didn't have any patients.

Next was a job in a shoe factory; I tried but I just didn't fit in.

I became a professional fisherman, but discovered that I couldn't live on my net income.

Thought about becoming a witch, so I tried that for a spell.

I managed to get a good job working for a pool maintenance company, but the work was just too draining.

I got a job at a zoo feeding giraffes but I was fired because I wasn't up to it.

So then I got a job in a gymnasium (work-out-center), but they said I wasn't fit for the job.

Next, I found being an electrician interesting, but the work was shocking.

After many years of trying to find steady work I finally got a job as a historian until I realized there was no future in it.

My last job was working at Starbucks, but I had to quit cause it was always the same old grind.

You got any ideas? I'm opened for suggestions .........maybe you have something that WORKS..........because I don't.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on September 5, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


August 29, 2000

Quotes of the Week:  

Nothing great was ever achieved without enthusiasm. 
Ralph Waldo Emerson (as quoted on the bottom of email messages from Judy Welch)

You guys (educators) are in trouble and we are going to eat your lunch.
Mike Milken as quoted by Mark Taylor (see below)

Finally, we believe that portals can be used to engage and retain students for a lifetime of education. Although new models of "digital marketing" are unfamiliar, and perhaps even alien in their campus. com incarnation, campuses can design and support portal-based "virtual communities" to extend traditional academic values and relationships into new markets.
Michael Looney and Peter Lyman (see below)

WOW Site of the Week

There isn't a lot (or anything?) on FAS 133/138 here, but this is a tremendous resource for risk management from a finance perspective --- Risk Management Special Report -- FinanceWise 

There are links to over 300 risk management websites.

FinanceWise Special Reports are designed to help you find the best information on the Internet in the quickest possible time.

Because of the nature of a search engine, information can often be located in a broad cross section of categories. Our reports bring that information together as one convenient resource enhanced by topic specific editorial abstracts for each site.

In addition to links we have selected articles and reports from leading publications and participants in the field of risk management.

We have launched an e-mail roundup of risk content on the web: the RiskBrief. It's your guide to the latest details of relevant sites, articles, books, conferences and more. Click HERE to subscribe. It's free.

FinanceWise users are also eligible for a special discount on the recommended titles on this topic from the FinanceWise Bookshop.

And for an insight into global thinking on risk management matters, news and discussion groups offer the opportunity to seek and express opinions.

To nominate a site, discussion forum, newsgroup or article for inclusion in the Risk Management special report send an email to our editorial team at

Tony Tinker is not going to like this!

Center for the Moral Defense of Capitalism 

Actually the first to reply was Steven Filling

Bob -

I guess I'd agree with Tony then. A Mico$oft funded colony of deluded yits spouting bits of Ayn Rand annoys me as well.

Kind of funny how these 'moralists' define "economic relationships" as different in kind from any other, and hold only the economic sacrosanct from societal interference. Rather like Gary Becker for the illiterati, except they lack the wit to see the contradiction in government-subsidized pillagers of society wanking on about the ill effects of government interference. If you'd be interested in a philosophic explanation of why what this site espouses is nonsense I'll ask one of my sophomores to write something up.

On 26-Aug-2000 Jensen, Robert extemporized: > Center for the Moral Defense of Capitalism > >

cheers S Filling 
Nobody's Distinguished Professor of Business 
California State University, Stanislaus

Scott Bonacker [scottbonacker@MOCCPA.COM] responded as follows:

See also this book by Gilder, favored by conservatives and Republicans:

Wealth and Poverty (Ics Series in Self-Governance) by George Gilder, Robert B. Hawkins Paperback - 327 pages 2 edition (June 1993) Institute for Contemporary Studies; ISBN: 1558152407

As of August 29, the XBRL demo is still down.  Keep trying at 

For more on XML and XBRL, go to 

Question:  What tremendous glossary has been added to Bob Jensen's list of leading business and economics glossary?

Answer:  The Online Glossary of Research Economics at 

Other leading business and economics glossaries can be found at 

My technology glossary and links to other technology glossaries are at 

WizeUp requests that I be more accurate in my evaluation of their services.  My main complaint concerned the ethics of allowing professors to both adopt and sell leading textbooks online.  The latest version of the WizeUp website seems to be playing down that option for professors relative to earlier versions of the website.  Now I am happy to encourage students and faculty to make use of this wonderful way to purchase top academic textooks.

Other than that, I think that it is great that WizeUp is providing over 100 leading textbooks from almost every discipline online (it amazes me how they got the leading publishing houses to partner with WizeUp for this purpose.)  It great that these leading textbooks can be obtained in digital form for ease of storage, ease of access, ease of word search, and price.  

Different universities and bookstores offer different types of programs and pricing to students and the markets and prices are often complex and they often change.

Generally, WizeUp Digital Textbooks are currently priced at $10 below the used book - some of our Digital Textbooks are priced at $20 below the used book.

In the digital form, you can take notes, highlight, make bookmarks, and search.  My evaluation is at   Especially note the FAQs at 

Reply to Jennifer Johnson, WizeUp Digital Textbooks
I will be out of town a great deal this semester. What would be better is for you to write a correcting message that you would like to have me put in my work. If I agree with your corrections (and I will probably trust your judgment more than my judgment), I will publish your corrections.

Bob (Robert E.) Jensen 
Jesse H. Jones Distinguished Professor of Business
Trinity University, San Antonio, TX 78212 
Voice: (210) 999-7347 Fax: (210) 999-8134 Email: 

-----Original Message----- From: Jennifer Johnson [] Sent: Wednesday, August 23, 2000 9:54 PM To: Subject: (no subject)

Professor Jensen,

I read with interest the coverage of our company on your Website. I am the National Sales Manager for WizeUp and I would be happy to provide you with accurate information for your site.

It was a little difficult to follow, but the inaccuracies may discourage professors or student users. I would like our local rep to be able to meet with you for a demonstration of the product this semester. Would you be available?

I look forward to hearing back from you at your earliest convenience.

Jennifer Johnson WizeUp Digital Textbooks (212) 324-1300 x 1021 

Featured Document of the Week (at a philosophical level)

"Useful Devils," by Mark C. Taylor, Educause Review, July/August 2000 --- 

This is a heavy duty article that I think every educator should read with care from beginning to end.  It deals with very controversial issues beginning with the first " modern university" (The University of Berlin) that commenced in 1810. 

Immanuel Kant developed the blueprint for this university in a work entitled The Conflict of the Faculties, published in 1798. Kant began his analysis by arguing: 

 Whoever it was that first hit on the notion of a university and proposed that a public institution of this kind be established, it was not a bad idea to handle the entire content of learning (really, the thinkers devoted to it) by mass production, so to speak—by a division of labor, so that for every branch of the sciences there would be a public teacher or professor appointed as its trustee, and all of these together would form a kind of learned community called a university (or higher school). The university would have a certain autonomy (since only scholars can pass judgment on scholars as such) and accordingly it would be authorized to perform certain functions through its faculties

In this remarkably prescient passage, Kant associates higher education with mass production and, by extension, with what eventually becomes the logic of Fordism. Accordingly, the university is structured like an assembly line with discrete divisions and departments turning out uniform products with predetermined values. The curriculum and the education of students are linear processes, which are programmed by the producer. University professors are divided between so-called higher and lower faculties. The “higher” faculties are law, medicine, and theology, which represent what we today call professional schools. It is important to note that the university Kant designed is supported by the state. The purpose of the higher faculties is to provide the educated citizens that the government needs to maintain a functional society. The “lower” faculty, which Kant defines as philosophical, comprises what we now label the arts and sciences. The higher faculties are charged with providing practical education, whereas the responsibility of the lower faculty is disinterested inquiry and critical reflection ... 

There really is too much in this article to capture in brief quotations.  But I will quote the closing paragraph:

Change is never easy and always threatening. Yet change is what keeps institutions as well as people alive. Unfortunately, no institution is more resistant to change than the college and university. Perhaps it has always been so, but now time seems to be running out. If colleges and universities do not overcome their smug satisfaction with how they do business, the Michael Milkens of the world will indeed eat their lunch. The challenge that educators face is to turn the useful devils of business and technology to their own ends. If usefulness is a devil, it’s a devil we must learn to dance with or educational institutions will become more obsolete than they already are. This is neither a threat nor an ultimatum; it is just a fact—a brute fact. And it’s time to face this fact directly and honestly.

Featured Document of the Week (at a strategic level)

Following on the heels of my featured knowledge portal in my August 22 New Bookmarks comes a featured review of "Portals in Higher Education," by Michael Looney and Peter Lyman, Educause Review, July/August 2000 --- 

This is an outstanding introduction to web portals in general and educational portals in particular.  As you recall (from my August 22 edition of New Bookmarks), a tremendous education portal is under construction at Columbia University.  It is called Fathom --- 

A few selected quotations from the Looney and Lyman article are given below:

Let’s start with a simple definition, and then explore some of the variations of portals. At the most basic level, portals gather a variety of useful information resources into a single, “one-stop” Web page, helping the user to avoid being overwhelmed by “infoglut” or feeling lost on the Web. But since no two people have the same interests, portals allow users to customize their information sources by selecting and viewing only the information they find personally useful. Some portals also let you personalize your portal by including private information (such as your stock portfolio or checking account balance). Put simply, an institution’s portal is designed to make an individual’s Web experience more efficient and thereby make the institution as a whole more productive and responsive.

. . .

The two most popular consumer portals are AOL and Yahoo! AOL ( ) has over twenty-five million users averaging 12 minutes per session.2 Yahoo! ( ) has over twenty-two million users averaging nearly 25 minutes per session and is the classic directory portal that most other portals have imitated. Portals often seem similar from one site to another because publishers of generic consumer information, such as InfoSpace ( ) and MyWay (  ), license the same information services to many dot.coms. companies may license these information to companies as B2B (business-to-business) enterprise or use them on student-oriented web pages as a B2C (business-to-consumer) enterprise.

. . . 

According to the Delphi Group’s published survey results, 55 percent of Fortune 500 companies are already using an enterprise portal or have plans to develop one in the near future. Enterprise portals are intended to assist employees to be more efficient and productive by centralizing access to needed data services—for example, competitive information, manufacturing and accounting data, 401K information, and other human relations data. Enterprise portals often include news, weather, and sports feeds as a benefit for the employee, giving these portals the appearance of a community portal.

Examples of campus portals:

Some campuses have already started developing educational portals to accomplish these goals. The University of Washington has developed MyUW ( ). This portal site uses information in innovative ways that enhance the educational mission, personalizing student data (student debit-card totals, student course information) and providing faculty with ideas and resources for new uses of technology for teaching.  The UW portal seems to have the mission of creating an online community encompassing a diverse and complex on-and off-campus environment. And the MyUCLA site (  ), one of the oldest in higher education, provides a classic directory-style portal, ranging from new modes of accessing campus administrative data to relevant feeds from the UCLA Daily Bruin. 

I contend that the Fathom knowledge portals extend well beyond the objectives and strategies of the portals mentioned in the above Looney and Lyman article.  The Fathom portal has leading partners such as the Smithsonian and the New York Public Library for heavy input of knowledge into the portal.  It is called Fathom --- 

Some key knowledge portal links

Fathom Partners

Columbia University
LSE (Enterprise LSE)
Cambridge University Press
British Library
New York Public Library
Smithsonian Institute Museum of Natural History

Fathom@Columbia --- 

Fathom@LSE (London School of Economics) --- 

Knowledge@Wharton --- 

Center for the Study of Technology and Society --- 

Our work. The Center for the Study of Technology and Society, Inc. is a non-profit think tank granted tax-exempt status by the U.S. Internal Revenue ServiceThrough original research and in-depth analysis, the Center examines the interaction of technological change and society.  The Center will strive to emphasize and clarify the point that advances in technology are neither inherently good nor inherently evil but that every new technology has the potential to cause problems, and the capacity to solve problems.

Our belief. In all we do, the Center will be guided by the belief that properly utilized technology can be beneficial, but that uninformed government interference will only stymie technological achievement and close off avenues to progress.

Our plan. The Center has headquarters in Washington, D.C. and additional research staff in Chicago.  The Center is developing a network of industries and universities, of associations and NGOs, of policymakers and concerned citizens.  To find out how you can help the Center, click here.

From the National Academy of Sciences  (A Book)
The Digital Dilemma: Intellectual Property in the Information Age --- 

Borrowing a book from a local public library would seem to be one of the most routine, familiar, and uncomplicated acts in modern civic life: A world of information is available with little effort and almost no out-of-pocket cost. Such access to information has played a central role in American education and civic life from the time of Thomas Jefferson, who believed in the crucial role that knowledge and an educated populace play in making democracy work. Yet the very possibility of borrowing a book, whether from a library or a friend, depends on a number of subtle, surprisingly complex, and at times conflicting elements of law, public policy, economics, and technology, elements that are in relative balance today but may well be thrown completely out of balance by the accelerating transformation of information into digital form.

The problem is illustrated simply enough: A printed book can be accessed by one or perhaps two people at once, people who must, of course, be in the same place as the book. But make that same text available in electronic form, and there is almost no technological limit to the number of people who can access it simultaneously, from literally anywhere on the planet where there is a telephone (and hence an Internet connection).

At first glance, this is wonderful news for the consumer and for society: The electronic holdings of libraries (and friends) around the world can become available from a home computer, 24 hours a day, year-round; they are never "checked out." These same advances in technology create new opportunities and markets for publishers.

But there is also a more troublesome side. For publishers and authors, the question is, How many copies of the work will be sold (or licensed) if networks make possible planet-wide access? Their nightmare is that the number is one. How many books (or movies, photographs, or musical pieces) will be created and published online if the entire market can be extinguished by the sale of the first electronic copy?

The nightmare of consumers is that the attempt to preserve the marketplaces leads to technical and legal protections that sharply reduce access to society's intellectual and cultural heritage, the resource that Jefferson saw as crucial to democracy.

This deceptively simple problem illustrates the combination of promise and peril that make up the digital dilemma. The information infrastructure--by which we mean information in digital form, computer networks, and the World Wide Web--has arrived accompanied by contradictory powers and promises. For intellectual property in particular it promises more--more quantity, quality, and access--while imperiling one means of rewarding those who create and publish. It is at once a remarkably powerful medium for publishing and distributing information, and the world's largest reproduction facility. It is a technology that can enormously improve access to information, yet can inhibit access in ways that were never before practical. It has the potential to be a vast leveler, bringing access to the world's information resources to millions who had little or no prior access, and the potential to be a stratifier, deepening the division between the information "haves" and "have-nots."

The information infrastructure has as well the potential to demolish a careful balancing of public good and private interest that has emerged from the evolution of U.S. intellectual property law over the past 200 years. The public good is the betterment of society that results from the constitutional mandate to promote the "progress of science and the useful arts"; the private interest is served by the time-limited monopoly (a copyright or patent) given to one who has made a contribution to that progress. The challenge is in striking and maintaining the balance, offering enough control to motivate authors, inventors, and publishers, but not so much control as to threaten important public policy goals (e.g., preservation of the cultural heritage of the nation, broad access to information, promotion of education and scholarship). As usual, the devil is in the details, and by and large the past 200 years of intellectual property history have seen a successful, albeit evolving, balancing of those details. But the evolving information infrastructure presents a leap in technology that may well upset the current balance, forcing a rethinking of many of the fundamental premises and practices associated with intellectual property.

The stakes involved in all this are high, both economically and in social terms. Decisions we make now will determine who will benefit from the technology and who will have access to what information on what terms--foundational elements of our future society.

The Committee on Intellectual Property Rights and the Emerging Information Infrastructure believes that fundamental change is afoot. As a society we need to ask whether the existing mechanisms still work, and if not, what should be done. What options exist for accomplishing the important goals of intellectual property law and policy in the digital age? Test cases are now the stuff of daily news, as for example the upheaval in music publishing and distribution caused by digital recording and the MP3 format. The committee believes that society needs to look further out than today's crisis, try to understand the nature of the changes taking place, and determine as best it can what their consequences might be, what it would wish them to be, and how it might steer toward fulfilling the promise and avoiding the perils. Stimulating that longer-range exploration is the purpose of this report.

Although the report builds on some past efforts, it takes a broader approach, analyzing the issues from the perspective of a multiplicity of relevant disciplines: law, technology, public policy, economics, sociology, and psychology. The committee strongly believes that attempts to consider digital intellectual property issues through a single lens will necessarily yield incomplete, and often incorrect, answers. The report is narrow in one sense, focusing primarily on copyright because it protects the intellectual property most frequently encountered by the general public.

Opinions run strong on almost every issue addressed in this report, in large part because the stakes are so high. If, as is often claimed, societies are seeing a shift in economies as significant as the industrial revolution, with the transition to knowledge and information as a major source of wealth, then intellectual property may well be the most important asset in the coming decades.

From Syllabus News on August 21, 2000

Mascot Network has announced that its Mascot 2001 portal will serve 500,000 students this fall. Built using Microsoft technologies, Mascot 2001 has several new features and enhancements, including instant messaging, a personal calendar, and a new interface to connect alumni, students and parents. Sensitive information is password-protected, and a campus channel enables students to check grades, register for classes, and access administrative information. Administrative access tools help administrators manage the service by adding and removing users, publishing school-specific content, and monitoring site activity. Also included is an academic research area that allows students to get research materials, online tutoring, and standardized testing assistance.

For more information visit

Class of 2001 Has High Salary Expectations More than eighty percent of surveyed computer engineering and computer science students entering their final year of college report that they expect to earn higher salaries than last year's graduates averaged. CollegeHire interviewed more than 5,000 computer science and computer engineering students across the country and found that more than 51 percent of the respondents said they expect to earn between $51K - $70K in their first job. Graduates of those same programs earned an average of $47,000last year. Jeff Daniel, CEO of CollegeHire, cites a shortage of technical graduates as the main reason for the highest-ever salary expectations.

Do you want to by a shares in a prestigious university?

One alternative used by prestige universities is to partner with an online course development and delivery corporation such as UNext (a corporation that will deliver business courses developed and owned by Stanford University, Columbia University, Carnegie-Mellon University, the University of Chicago, and the London School of Economics.   See  

Another alternative is for a university to form a corporation (and possibly sell investment shares to the public) and then deliver online and onsite courses through the private corporation.  One such company is the new Duke Corporate Education.   (Wanda Wallace watchers may want to note that our respected and talented Dr. Wallace has gone corporate.)


DURHAM, N.C. - Duke University's Fuqua School of Business is forming a private corporation to become the first business school to provide tailored, top-to-bottom educational services to the world's major companies, Dean Rex D. Adams announced Friday.

Blair H. Sheppard, currently Fuqua's senior associate dean for academic programs, will be president and CEO of the new enterprise.

Named Duke Corporate Education Inc., the company will provide corporate clients with business education designed specifically for their needs. It also will expand Fuqua's innovative distributed-learning consulting services to help corporations establish or radically improve their manager training programs and corporate universities.

"In my four years as dean, this is one of the most significant announcements I have had the privilege to make," said Adams, who will serve as the chairman of the company's board of directors. "Building on our success in customized executive education, we will be out front in teaching across multiple layers of management - anywhere in the world. Duke Corporate Education will house and expand our current tailored executive education operation and also our newly formed Corporate University Advisory Services and e-Learning Solutions groups of distributed-learning consultants.

"Faced with the accelerating pace of change and a growing dependence on talent, companies are looking for Duke-quality education to support strategic transformation, help develop managers and serve as an ongoing investment in human capital," Adams said.

He said the market for corporate education is now about $40 billion annually and is growing at 25 percent a year.

Duke University will be the majority shareholder of Duke Corporate Education. Private equity groups are expected to make major investments in the enterprise.

An agreement has been reached with Pensare Inc. to provide the distance-learning technology for Duke Corporate Education. Pensare, based in Los Altos, Calif., is the global leader in e-learning business networks. Pensare first partnered with Duke in October 1999 to co-produce a new curriculum and e-learning platform to support The Duke MBA - Cross Continent program. The Cross Continent program, which welcomes its inaugural class of 100 students from around the world in August 2000, offers a unique blend of classroom-based and online MBA education from campus locations in Durham, N.C., and Frankfurt, Germany.

Sheppard said the school "is a natural for leading this brand-new industry. We have been known for delivering innovative executive education, and creating this stand-alone business maintains our momentum and leadership. We will be providing a one-stop shop for corporate universities, delivering top-to-bottom education that is truly unique."

Other schools have formed private companies, but Sheppard said Duke Corporate Education will be the first to deliver programs at every level of a corporation, not just upper management.

He said initial clients of Duke Corporate Education will include Deutsche Bank, Ford, Siemens and Ericsson. Its offices will be in Durham, in close proximity to Fuqua, he said.

Joining Sheppard at the company will be
Wanda T. Wallace, formerly associate dean for executive education, who will be director of customer relations and program operations; Professor John Gallagher, former director of Fuqua's Computer Mediated Learning Center, who will be head of research and development; and Professor John McCann, a specialist in e-commerce.

Sheppard said Judith A. Rosenblum will join the company in a leadership role. She is the former chief learning officer for The Coca-Cola Company and a former vice chairman for learning, education and human resources at Coopers & Lybrand.

Fuqua's second type of executive education program, open-enrollment courses taught to managers from multiple companies, will remain under Fuqua's non-profit umbrella. These include Fuqua's highly acclaimed Program for Manager Development and Advanced Management Program courses. New courses will be developed in the coming months.

Richard Staelin, the Edward S. and Rose Donnell professor of marketing at Fuqua since 1982, has been named associate dean for executive education to lead open-enrollment education.

Ninth House Network buys up intellectual property rights of leading scholars 
The new E-Learning Resource Site is described at 

Ninth House Network™, the leading broadband e-learning environment for organizational development, today announced the launch of its new corporate web site at . The new web site, which highlights Ninth House Network’s e-learning solutions, features a comprehensive e-learning resource center available to the general public, providing tools, information, white papers, relevant articles and related links that help further the understanding of the role that e-learning plays in organizational transformation.

The Ninth House Network web site features insight from leading business minds on a wide range of topics, including change management, building successful alliances and partnerships, team building, building community, management, innovation and customer service. Using a combination of streaming video, readable interviews, interactive web casts and related articles and books, Ninth House Network provides visitor access to business leaders such as Tom Peters, Ken Blanchard, Larraine Segil, Peter Senge and Clifton Taulbert.

The need to steadily expand their knowledge is just one of the watershed changes facing developers now that the Web has become the dominant platform --- 

"Home Is Where the E-Classroom Is"  by Kendra Mayfield ---,1284,38161,00.html 

"The use of computers in the home-school environment is just exploding," said William Lloyd, researcher for the National Home Education Research Institute.

"The traditional classroom is built on a 19th-century model of education. Some home schoolers are already getting a 21st-century education," said Scott Somerville, an attorney for the Home School Legal Defense Association.

Experts estimate that there are more than 1.7 million home-schooled children in the United States, growing at a rate of 10 to 15 percent every year.

According to a 1997 study, approximately 86 percent of home school families reported owning a computer, compared to the 34 percent national average for U.S. families.

Since the report, the number of home school families using chat rooms, email lists, and listserves has increased tenfold, Lloyd said.

KMPG's New eValuation
"Services Calculate Net ROI Consulting firms update traditional business metrics for Internet" By CHUCK MOOZAKIS 

Calculating Net ROI

The fledgling oil and gas exchange PetroCosm knew it needed more than the backing of giants Chevron and Texaco to win over customers and suppliers. Even more important was the ability to demonstrate clear financial benefits for participants.

In the months leading up to its July launch, PetroCosm worked with consulting firm KPMG to develop a return-on-investment (ROI) model that would help potential customers make the case for participating in the exchange.

PetroCosm used a new KPMG service dubbed eValuation--announced last week--that takes into account traditional ROI variables, such as up-front development costs, as well as more Internet-centric variables, such as the additional sales that can be derived by participating in a wide range of online marketplaces. It also factors in the cross-company ramifications of Internet supply chains and how customers and suppliers can also benefit.

"We were able to come up with a business case that said this is a profitable business" for both suppliers and PetroCosm's founding members, said PetroCosm controller Rod Starr. "It sounds straightforward enough, but one of the great challenges is that there are no existing models to gauge ROI."

Armed with results from the ROI study that indicated the type of cost savings prospective members could realize by participating in a B2B exchange, PetroCosm has been able to sell prospective participants on the possibility of trimming anywhere from 5 percent to 20 percent of their procurement costs by joining the marketplace, Starr said. --Chuck Moozakis

Read the rest: 

Thank you Boris Feldman for free access to "Investor Relations and Selective Disclosure Under SEC Regulation FD."  --- 

In a nutshell, how will Reg. FD change my company’s disclosure practices? 
Does FD require my company to provide guidance as to future results? 
What information is "material" for purposes of FD? 
Are there audiences as to which communications are not covered by FD? 
How can I provide guidance in compliance with FD? Should we start using 8-K filings more regularly? 
Can I discharge my disclosure obligations by posting something on our Web site? 
How does FD affect the Safe Harbor for forward-looking information? 
How will FD change my conference calls? May I review draft analyst reports under FD? 
Does FD prohibit "walking the Street down"? Will FD change my behavior at investor conferences? 
How does FD affect the "quiet period" at the end of a quarter? What should we do if we make a mistake? 
What are the consequences of violating FD? When will FD take effect? 
Where can I find the text of FD?

The jury's still out on online banking for consumers, but some big brick-and-mortar banks are increasing online banking options for their corporate customers --- 

MoMA2000 (Museum of Modern Art) 

NASA's Visible Earth --- 

Eyewitness Encyclopedia (over 40,000 pictures and 2 million terms) ---

Daily Grammar 

Did you know that ASP has two meanings?  From my Technology Glossary at 

ASP = Active Server Pages.  ASP script extensions contain either Visual Basic or Jscript code. When a browser requests an ASP page, the Web server generates a page with HTML code and sends it back to the browser. So ASP pages are similar to CGI scripts, but they enable Visual Basic programmers to work with familiar tools.

ASP = Applications Server Page.  This is a page that performs customized "applications" services.  A great example is where individuals or complete business firms can access accounting software that allows all accounting to be maintained in NetLedger's online files.  Business transactions (such as billings and collections) can even be managed by the applications server.  Other examples are given at,11011,2615695,00.html 

For now, however, the latest twist on the ASP trend—what Outtask and some analysts are calling the BSP, or business service provider, model—remains immature. The range of business process services being offered in conjunction with hosted applications is narrow, mostly limited to functions such as travel, PC support and payroll. And, while some hosting providers such as Alexandria-based Outtask have begun building mixed portfolios of managed application and business process services from scratch and selling them directly to their customers, many established ASPs are adding the BSP tag to their résumés by forming alliances with the BPO divisions of major consulting and systems integration companies or with leaders in specific areas of outsourcing, such as Automatic Data Processing Inc. for payroll services. Many of those relationships, however, are new. Often, the hosted applications from one vendor and the business services from another are not truly integrated. So the user is often left negotiating and dealing with more than one provider.

Stan Gibson asks: Does your ASP have what it takes to make it in the IT game of "Survivor"? 

Culture and business of Florence and Tuscany (History) 
Virtual Uffizi: the Complete Catalog --- 

Intel disappointed some observers Tuesday at its developer forum when it announced that the new Itanium chip won't be introduced initially at 800MHz. --- 

Virtual Seminars for Teaching Literature --- 

FertileMind - market talk for "educated investors" 

TeacherWeb (a free place where teachers can post course materials) --- 

Survival Guide for new Teachers --- 

The reality is, nothing is as secure as it seems, especially when it seems impenetrable, warns Scot Petersen. 

Historical Statistics on Banking -- FDIC [.pdf] 

Digital movie archive of "America at Work, America at Leisure" (history, video) 

Question:  What is the best way to learn about an industry?

Answer:  Industry Tutor 
From the George A. Smathers Libraries at the University of Florida 

Hoaxbusters (the Department of Energy's  place to start when you want to check on whether something you saw on the web or received via email is really true). --- 

Interspersed among the junk mail and spam that fills our Internet e-mail boxes are dire warnings about devastating new viruses, Trojans that eat the heart out of your system, and malicious software that can steal the computer right off your desk. Added to that are messages about free money, children in trouble, and other items designed to grab you and get you to forward the message to everyone you know. Most all of these messages are hoaxes or chain letters. While  hoaxes do not automatically infect systems like a virus or Trojan, they are still time consuming and costly to remove from all the systems where they exist. At CIAC, we find that we spend much more time de-bunking hoaxes than handling real virus and Trojan incidents. These pages describe some of the warnings, offers, and pleas for help that are filling our mailboxes, clogging our mailservers, and that generally do not have any basis in fact.

In addition to describing hoaxes and chain letters found on the Internet, we will discuss how to recognize hoaxes, what to do about them, and some of the history of hoaxes on the Internet.

Hoax Categories

Malicious Code (Virus and Trojan ) Warnings
   Warnings about Trojans,  viruses, and other malicious code that has no basis in fact. The Good Times and other similar warnings are here.
Urban Myths
   Warnings and stories about bad things happening to people and animals that never really happened. These are the poodle in the microwave and needles in movie theater seats variety.
Give Aways
   Stories about give aways by large companies. If you only send this on, some big company will send you a lot of money, clothes, a free vacation, etc., etc. Expect to wait a long time for any of these to pay off.
Inconsequential Warnings
   Out of date warnings and warnings about real things that are not really much of a problem..
Sympathy Letters and Requests to Help Someone
   Requests for help or sympathy for someone who has had a problem or accident.
Traditional Chain Letters
   Traditional chain letters that threaten bad luck  if you do not send them on or that request you to send money to the top n people on the list before sending it on..
Threat Chains
   Mail that threatens to hurt you, your computer, or someone else if you do not pass on the message.
Scam Chains
   Mail messages that appear to be from a legitimate company but that are scams and cons.

Internet Fraud: How to Avoid Internet Investment Scams 

From the NY Times "New Textbooks, New Pencils, New Internet Use Policies?" by Rebecca Weiner --- 

The new school year is fast approaching. Students are getting ready to head back to class. Teachers are preparing their lessons. Administrators are reviewing and updating their schools' existing Internet use policies, ensuring they reflect rapidly changing technologies.

At least they should be, experts in education technology say.

While school attorneys say there are no set guidelines for how often schools should rewrite or update their policies, they recommend administrators review the policies annually to make sure students are protected while online and schools are shielded from potential legal conflicts.

"You do need to have a regular cycle for reviewing acceptable use policies and addressing gaps in the policy," said Edwin Darden, staff attorney for the National School Boards Association.

So-called acceptable use policies cover student and faculty member behavior while using school computer equipment. They often spell out guidelines on the privacy of e-mail messages, rules for complying with copyright laws and consequences for misusing school computers and networks.

Marie Curie and the Science of Radioactivity (history) 

Three arrested in first internet bank robbery --- 

Cloud Forest Alive (biology and botany in Central America) 

Internet Democracy Project ---

From The Economist, "The Jack who would be king," (about a rapidly growing Internet company called that has its home base in China) --- 

But Alibaba is remarkable in two respects. First, it mostly introduces not big firms but small mom-and-pop concerns (“shrimps” rather than “whales”, as Mr Ma likes to say). And second, the shrimps are from all over the world, including, crucially, the vast and largely uncharted small-business hinterland that is China. Indeed, Alibaba claims to be the only major international website whose origins lie in that country. The firm is not the first to see opportunities from linking China’s small businesses into global supply chains. But with its number of registered members passing 300,000 this month, it is the biggest to have done this online.

As a child of the cultural revolution, Mr Ma was once a Mao-loving Red Guard. Along with most of his peers, he grew up thinking that “the outside world was a terrible place”. This view was challenged only in 1985, when he first travelled abroad, to Australia. The place did not seem so terrible after all, and it became clear that Mr Ma and his hosts were utterly ignorant of one another. The experience turned his world view inside out, and he became a fanatical xenophile. Back in China, he listened to Tom Sawyer on the Voice of America and would cycle for almost an hour, in any weather, to “chat up” foreigners in the nearest smart hotel. In 1992, he founded the first English-language translation agency in his town. It was called “Hope”, and its slogan was “Shake Hands across the Ocean”.

The Alibaba website is at 

It gets easier and easier!  "The Mainstreaming of Kiddie Porn"  by Lynn Burke,1283,38393,00.html 

"FTC: 'Free' Porn Sites Charged" (Wired News),1367,38396,00.html 

"Internet gives Russians voice," by Fred Weir at 

Thousands of Russians visiting his Web site have turned it into a bulletin board for all the anger, doubts, fears, and hopes that aren't finding their way into the official media.

One a Day Keeps the Tums Away (a revolutionary new type of aspirin),1282,38374,00.html 

"Dead authors write to Amazon," by Robert Blincoe at 

The fact that anyone can post bogus author comments on and doesn't seem to come as much of a surprise to Reg readers - a lot of you seem to have enjoyed the feature for quite some time.

And 2600: The Hacker Quarterly apparently revealed the hole more than six months ago.

But Steve Frazier, MD of, reckons the only occurrence he is aware of is when the Reg proved how easy it was, a couple of weeks ago. This is in spite of Ted Dewan, chair of the Children's Writers and Illustrators Group at the Society of Authors, writing to expressing his concern about the problem on 27 July. Ted's concerns were based on postings to

If anyone has seen an amusing fake author posting on get a screen grab and email me here. The UK site, though a subsidiary of, reckons it runs better security procedures (which it won't elaborate on, but is probably someone just reading emails) which guard against joke posting. The Reg's test got through, apparently, because we used a message the author was happy to appear next to his books.

For your amusement here's some more bogus author postings from, courtesy of Need to Know.

Einstein has revealed that he got it wrong about quantum mechanics and God does play with dice. And Fyodor Dostoyevsky writes that he still likes his work even though he's dead.

Video eyes even in the school bathrooms!,1284,38082,00.html 
Twenty-five of the closed-circuit devices keep watch over the hallways, stairwells, and bathroom entrances of Blandie's New Jersey high school. Two full-time security personnel review videotape from the cameras daily, and if offenses are caught on screen, the students involved are called in and presented with the visual evidence.

Also see "High School Surveillance Cameras,",1284,38344,00.html 

PBS Kids Democracy Project ---- 

Forwarded by Dick Burr

HOUSTON, Aug. 23, 2000 - A $40 million gift from Charles T. (Ted) Bauer, co-founder and chairman of A I M Management Group Inc., to the University of Houston's College of Business Administration (CBA) will strengthen one of the nation's leading urban graduate business school programs by providing the resources needed to attract and retain outstanding faculty and students and by allowing the college to develop innovative business curricula. For a full press release, see 

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of August 28, 2000

:1. The Week's Top Accounting News 
2. A Simple, Safe Way to Track Your Online Accounts 
3. Feature Solutions Articles in Brief 
4. Get Answers to Your Tax Issues

Pro2Net Accounting Students Newsletter http://accountingstudents.pro2net. com August 22, 2000

1. Scholarship Winners Announced 
2. Email at Work 
3. Laskawy Breaks With SEC at AAA Conference 
4. Be Ready to Prepare Financial Statements for the CPA Exam 
5. Win a CMA on CD-ROM Review Course

The August 27th edition of the Internet Essentials 2000 Newsletter --- 

1. ebXML: E-Business enabled with XML 
2. Portable Technology: Electronics You Can Wear 
3. Google Improves Search Efficiency 
4. Life Without SOAP Would Be ....... 
5. XBRL.ORG Web Site Adds Presentations, Tools 
6. XML NEWS! Live Feed for all News about XML 7. The Future Without Wires

Neal Hannon states the following:

My favorite search engine today is   Google consistently produces results that are on target with the context of my Internet searches, which puts the tools heads above the other search engines.   Here's what Iconocast recently had to say about Google:

"With the entrance of Google, which greatly improves search effectiveness and which was recently anointed by Yahoo! as the Net's definitive search technology, the search-engine game once again looks promising [we particularly like the "I'm feeling lucky" button]. Google claims to have cataloged 1.06 billion Web pages, no mean feat." Source: 2000 ICONOCAST

God bless Mary (Molly) Thompson and Herb Treat.  The Trinity University community will not quite be the same without both of them returning to campus events.  I could not attend the services for Herb, but I did get to Molly's memorial service on Sunday afternoon.  The best line of the day was that "Molly could run on two hours of sleep and in parts of the remainder of the day hold long conversations at the big dining table, smoke two cigarettes, work a crossword puzzle and read a novel --- all at the same time."  The most important remembrance for her large family and many friends was that the back door of where she lived in Olmos Park (with my colleague and long-time friend George Thompson) was never locked.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on August 29, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


August 22, 2000

Quotes of the Week:  

Fathom's most recent alliances are with Blackwell Retail, The British Library, Cambridge University Press, EBSCO Information Services, ecampus, and Taylor & Francis to offer high-quality knowledge e-commerce opportunities in the context of Fathom's public knowledge content. Visitors to the web site will thus have a simple, immediate way to purchase books, journals, periodicals, and articles that are directly related to the subjects in which they are most interested. In addition to these recent alliances, Fathom also has content partners, which currently include Columbia University, London School of Economics and Political Science, Cambridge University Press, The British Library, Smithsonian Institution's National Museum of Natural History, and The New York Public Library.

Fathom Knowledge Network Inc. is a unique interactive enterprise dedicated to the dissemination of knowledge. The company's website offers unprecedented opportunities for discovery through authenticated information, learning opportunities, tools and resources overseen by an advisory board selected from its partners a consortium of the world's leading universities and cultural institutions. Fathom partners currently include Columbia University, London School of Economics and Political Science, Cambridge University Press, The British Library, Smithsonian Institution's National Museum of Natural History, and The New York Public Library.
See below for details!

There is one added thing about bias --- biased people are generally unforgiving and paint organizations (a Big 5 firm, the SEC, the police,  the American Accounting Association, government, a religion, or whatever) as always being black (bad) or white (good). They become like the paparazzi seeking sensationalism by always looking for the negative happenings in life and rarely reporting the "good news today" (as in the lyrics of an Anne Murray song). For example, how about reporting cases where auditors acted highly professional to their own detriment? Or give credit where credit is due when an organization changes its policies and practices. Or publish the remarks of an author who admits that he agrees with the referees who rejected his work after reading their reviews. I've got a few examples of working papers that prove I really can be an idiot.
Bob Jensen (Scroll down near the bottom of this edition for the entire message!)

I sometimes save the bulletins from Parker Chapel services. Several months ago, came across one with a Trinity University Prayer. I don't know who authored the prayer, perhaps it was Reverend Judd. In any case, I placed a version of that prayer at 

I should have prayed harder before releasing my latest FAS 133/138 case.

Warning:  If you downloaded the following case and/or its accompanying Excel Workbook prior to August 22, please discard those files and download the updated files.  Both the case and the Excel Workbook contained some serious errors that (hopefully) have been corrected.

I am sharing my latest working draft of a case entitled FAS 138 Benchmark Interest Value-Locked Debt Accounting Case.  This is accompanied by a rather complicated Excel workbook.  The link to everything is now available at  However, the way I keep revising both the case and the worksheet, it is probably best to wait until I make an announcement that I am at last happy with my work (that I mistakenly posted before it made sense.)

One feature of the case is a focus on accounting for hedge ineffectiveness.  In addition to the familiar 0.80-1.25 DELTA(t) Rule, I introduce a parameter for hedge amount ineffectiveness.  Testing for ineffectiveness significance only on the 0.80-1.25 rule ignores hedge materiality.  I propose a joint test for materiality and significance.  If C(t) depicts the carrying value of the debt, A(t) depicts the current discount/premium amortization, and I(t) depicts the present value of the the index rate present values as specified in FAS 138, most firms want economic hedges to qualify for FAS 138 hedge accounting in order to adjust carrying value of the debt by [I(t)-I(t-1)] to offset the booking of changes in hedge (e.g., swap) values required under FAS 133.  Suppose -V(0) proceeds are received when the debt is issued for a market rate liability of V(0).

With No Qualifying Hedge or a Hedge that Combines Ineffectiveness Materiality and Significance in Terms of the 0.80-1.25 Rule for DELTA(t). 

C(t)= C(t-1)+A(t)  (
      = V(0)-[V(0)+SA(t) to date]

With A Qualifying Hedge or a Hedge that Combines Ineffectiveness Immateriality and Insignificance in Terms of the 0.80-1.25 Rule for DELTA(t). 

C(t)= C(t-1)+A(t)+[I(t)-I(t-1)]  
      = V(0)-[V(0)+SA(t) to date]+[I(t)-I(t-1)]   (It's the last term that firms want in hedge accounting!)

A long last I think I have my Excel Workbook hedge ineffectiveness Materiality and Significance tests working in the Excel Workbook accompanying my originally error-bound case at

One question never addressed by standard setters is what do do about hedge ineffectiveness that is material in amount but also has a DELTA(t) ratio falling within the 0.80-1.25 Rule bounds.  In my case, I do not deny hedge accounting in those outcomes, although the reason has me staring at the wall and wondering why.

I apologize for my confusions passed along to students and faculty in early versions of this case that were released before being fixed up.  In addition I apologize that even without the Excel Workbook, the case is over 70 pages long.  That also makes me stare at the wall and wonder why.

This case and my other FAS 133 cases are linked at

Featured Future of Education "Fathom" Websites of the Week (Fathom is potentially a very, very, very big deal, especially for humanities faculty and students around the world!)

What is Bob Jensen's vision for Columbia University's Fathom and similar knowledge portals?  

My vision for Fathom is the linking of the Fathom knowledge portal to speech recognition technology where anyone in the world can simply phone in both training and education queries.  For example, suppose you would like to hear an opera expert at Indiana University analyze a particular act of a Verdi opera (assuming that one day expert commentaries will be placed in the Fatham database).  You would simply dial into Fathom and speak out what you are seeking much like you ask for driving directions or stock information from a virtual woman at BeVocal (  ).  Keep in mind that the virtual woman can translate your voice into a knowledge base query and then translate the bits and bytes of knowledge into a very pleasing human voice. Bob Jensen's speech recognition threads are at  at .  (I suggest that you listen to at least one demo at BeVocal  if you want to be impressed beyond belief.)

The main Fathom Website is at 


Founding Partners: Columbia University, The London School of Economics and
Political Science, Cambridge University Press, The British Library,
Smithsonian Institution's National Museum of Natural History,
and The New York Public Library

Six of the world's leading educational and cultural institutions announced today that they will create Fathom, a new company formed to launch the premier site for knowledge and education on the web. Fathom will present the best public content and courses of universities, libraries, and museums on a wide variety of professional, cultural, and academic subjects. The consortium's website,, will introduce the first home for authenticated knowledge on the Internet, serving a worldwide audience of business and individual users.

Much of Fathom's content has never been available outside of the participating institutions. Founding partners who will make their educational and cultural resources available through Fathom include Columbia University, the London School of Economics and Political Science, Cambridge University Press, the British Library, the Smithsonian Institution's National Museum of Natural History, and The New York Public Library. Other institutions are expected to join the consortium. During the year-long development of Fathom, partners have invested invaluable intellectual assets and substantial financial resources. An experienced Internet team, headed up by President and CEO Ann Kirschner, Ph.D., manages the business, overseen by a distinguished board of directors of international business executives and by an Academic Council of leading scholars and researchers.

More Than Distance Learning: A "Main Street" for Knowledge and Education "Fathom is far more than another distance learning site," said Dr. Kirschner. "We are creating a vibrant 'main street' for knowledge and education. We intend to go beyond the current limits of information sites scattered across the web and also go beyond online initiatives from individual schools."

"Today, most initiatives by educational institutions are focused on courses," she continued. "Courses are important, and courses for distance learning will be one of the offerings provided by some partners through Fathom. But learning is not limited to the classroom, and the many other types of content provided through Fathom will provide a more complete and accessible context for knowledge. We believe that Fathom will define the transformation of the online learning category into a broader interactive knowledge marketplace," Dr. Kirschner said.

Fathom will include a comprehensive directory of related online courses offered by universities and cultural institutions, plus textbooks and other academic titles, specialized periodicals, individual articles and other publications, CD-ROMs, academic travel, and learning resources. Users will access online courses through Fathom, with tuition fees, accreditation, and admission policies set at the discretion of the offering university or cultural institution.

Wide Range of Subjects and Tools for Learning Central to Fathom will be a wealth of free content usually only available on university campuses and at leading museums and libraries. This content will include multimedia lectures, seminars, databases, publications, and performances. Working directly with the prominent faculty and curators of these institutions, Fathom will cover a wide range of subjects such as business, law, economics, social sciences, medicine, computer science and technology, the arts, journalism, and physics.

Fathom users will explore topics of interest to them professionally and personally. They will have the opportunity to interact and collaborate with the leading experts in their field. Fathom's unique architecture will provide a powerful "search and explore capability" that will allow users to follow their interests, independently or with expert guidance, across the widest possible range of subjects.

Extensive Content, Highest Standards "Fathom reaffirms the founding principles of the Internet," said Dr. Kirschner. "By providing global access to these resources, Fathom holds the promise of knowledge without boundaries and offers a new medium for the exchange of ideas. It points ahead to a future where the acquisition and application of knowledge can be independent of economic status, time constraints, and geographic location. Fathom and its partners are committed to creating a dynamic home for knowledge."

All Fathom original content will be authenticated, meaning that the knowledge will be attributed to the appropriate educational or cultural institution and its faculty or professional staff. Fathom's standards of academic and editorial integrity will be monitored by the Fathom Academic Council, a panel of selected senior faculty and curators from participating institutions, which will be chaired by Jonathan Cole, Ph.D., Provost and Dean of Faculties, Columbia University.

Examples of Fathom content currently in development include: An oral history research project that includes 7,000 in-depth personal interviews, conducted over 50 years, with leaders from business, politics, and the arts, including, Frank Lloyd Wright, Dorothy Parker, Nikita Khrushchev, and Jimmy Stewart (from Columbia University); Excerpts from the field journals of a preeminent anthropologist of the 20th century, William Duncan Strong (1899-1962) (from the Smithsonian Institution's National Anthropological Archives at the National Museum of Natural History); An overview of the provocative new science of astrobiology, which brings together molecular life sciences, space exploration, planetary science and the search for extraterrestrials, by astronomer and editor Dr. Simon Mitton (from Cambridge University Press); A talk on "The Weightless Economy," the shift from a world of manufacturing to a world of weightless services, by economist Professor Danny Quah (from the London School of Economics and Political Science); Multimedia presentations that bring to life treasured objects, from the Magna Carta to the Lindisfarne Gospels (from the British Library); A collection of over 54,000 photographic views of New York City that mark the development of the city, its architectural achievements, transportation system, and ethnic and cultural diversity (from The New York Public Library).

Strong Business Model To Create Category Leader Developed by top universities, Fathom will be the leading online destination for high-quality knowledge and education, a rapidly growing marketplace.

Significant growth in online education is expected over the next few years. According to IDC, the size of the U.S. market for distance learning is already $2 billion and is projected to be $6 billion in 2002 and $9 billion by 2003, a growing component of the $750 billion higher education market in the U.S. alone. Enrollment in online programs is expected to increase at an annual rate of 30-35 percent.

"The fit between the Fathom business model, the vast intellectual capital of the founding partners, and the talented management team in place at Fathom is exactly what you want to see when forging a vibrant new space on the Internet," said Michael M. Crow, Ph.D., Columbia University Executive Vice Provost. "We see an enormous need developing for this new interactive knowledge category. Fathom will meet that need with a combination of the technology we have developed and the best possible content provided by our distinguished partners."

In addition to Dr. Crow and Dr. Kirschner, Fathom's international board of directors will include former chairman of Goldman Sachs Stephen Friedman, commissioner of the National Basketball Association David Stern, chairman of Enterprise LSE and former director of Shell International Keith Mackrell, and chairman and CEO of MBNA Corporation Alfred Lerner.

Igniting the Desire for Knowledge "Fathom embraces the principles upon which the great learning institutions of the world were founded-to create a community where ideas flourish, to stimulate intellectual curiosity, and to aid in professional development. Fathom will harness the power of the Internet to enhance the learning experience while upholding the highest professional and scholarly standards," Dr. Kirschner said.


Alliance to Offer Content, Courses via Web --- 

A formidable alliance of prominent educational, library, museum and university publishing institutions has come together to launch, a for-profit Web site catering to a highly educated consumer market interested in broad, continuing learning for its own sake. The site will be supported by advertising and will offer a mix of free content, e-commerce (including the online sale of books, CD-ROMs and other products) and online courses from universities around the world.

Columbia University, the London School of Economics and Political Science, Cambridge University Press, the British Library, the New York Public Library and the Smithsonian's Natural History Museum have teamed up to support with a wide range of validated, branded content and an equally wide range of online courses. The site is slated to add still more as yet unnamed, educational and cultural institutions later this year. The site is aggregating an impressive array of free content to attract consumers who will be able to pursue free online information--and buy related products--on everything from ballet, literature, science and public policy to history, performing arts and much more.

Ann Kirschner, president and CEO of, told PW that although Cambridge University Press is Fathom's initial publishing partner, Columbia University Press and its various online projects will also be involved. "We'll be working with other publishers over time. Cambridge is important to us, because we're after a global audience." Kirschner also said that the company plans to work with a variety of online retailers to handle book and product sales. "We'll know exactly who in a few more weeks," she added. She declined to give a firm startup date. She also noted that decisions about accreditation and admission to online courses would be made by Fathom's university partners.

Kirschner emphasized that is not out to sell the latest Grisham novel. "We're after readers who want specialized books, journals and documents and, of course, courses. We're going to promote the scholarly books of faculty members as well as other knowledge products." Kirschner explained that the venture was "more than another distance-learning site. We are creating a vibrant 'main street' for knowledge and education."

Michael Holsworth, director of business development at Cambridge University Press, told PW that all CUP content will be branded. " will be classy and slightly elitist. We're after an audience that is interested in news, culture, research, academic stuff. People interested in deep, lifelong learning."

I ordered my copy from Barnes & Noble at 
For more on the future of education in the 21st Century, my Book of the Week is as follows:

Higher education in an era of digital competition: choices and challenges. Hanna, Donald E. et al.

Format: Paperback, 362pp.
ISBN: 1891859323
Publisher: Atwood Publishing, LLC
Pub. Date: February  2000
Associated Dealer: Gull's Nest Books Portland, OR
A collection of 14 contributions which explore a variety of issues in the application of information technologies to higher education. Hanna (educational communications, U. of Wisconsin) has selected the chapters to address such themes as the emergence of a global learning society; changing patterns of individual, organizational, and social needs; the challenges and possibilities of advanced technologies; transformational change in higher education on a global scale; and the importance of ethics and equity of access as elements that must drive decision making and leadership at an organizational level.

Another big development at Columbia University!

Columbia University Establishes David Mahoney Center For Brain And Behavior Research --- 

Columbia University has founded a center dedicated to investigating one of the great scientific puzzles of the 21st century: the link between the molecular workings of brain cells and human cognition.

The David Mahoney Center for Brain and Behavior Research will bridge molecular neuroscience with cognitive systems that underlie complex human behavior. Housed on the fifth floor of the New York State Psychiatric Institute's Annex on West 168th Street, the programs will include a postdoctoral training program as well as a professorship in brain and behavior research. .

The Center, named in recognition of David Mahoney's outstanding national and international contribution to brain science, could not come at a better time for Columbia,. says Howard Hughes Senior Investigator and University Professor Eric Kandel, M.D., who helped found the Mahoney Center. . Historically, Columbia has been very strong in molecular neurobiology, neuronal signaling, synaptic transmission, plasticity, development, perception, and learning, but we have not been as strong in the biology of complex brain systems.

The goal of the Mahoney center, according to Dr. Kandel, will be to . bridge molecules to mind.. The Center will connect basic neuroscience studies now going on at Columbia to research in human cognition by focusing on the study of working memory and the planning of actions. The scientists will forge links between ongoing genetic molecular-based studies in flies, mice, and worms and brain imaging studies in healthy humans and patients with cognitive disorders by conducting research in non-human primates. Ultimately, with studies at the center, we would hope to uncover mechanisms underlying human disease and cognitive disorders including schizophrenia, Parkinson's disease, age-related memory loss, and attention disorders of childhood.

Dan Stone made an excellent presentation on asynchronous learning research in my Philadelphia workshop on August 12.  Some of his leading links and references are as follows:

Clark, Richard E., 1991, “When researchers swim upstream: reflections on an unpopular argument about learning from media,” Educational Technology (February), 34-40. 
Scale website:
UI on-line:
Web-board tutorial:
LEEP program:
UIUC Center for Educational Technologies (CET):

On the Darker Side ---,1284,38066,00.html 

New Toys for Cheating Students
The proliferation of mobile devices gives students more ways to cheat on tests. But the teachers are on to them. By Elisa Batista.
in Culture

Dear Student: We Pay If You Stay

Online Schools Mean Business
- - - - -

With the advent of a data transmission standard called "short messaging service," students can silently beam test answers to each other on their personal digital assistants. More ambitious students can create their own database of notes, then access them during the test. The possibilities are endless.

But students beware. Teachers know what's going on, and are developing strategies to thwart them.

Teachers in secondary education are banning handheld devices in classrooms, including pagers. College professors, too, are becoming ever more educated and vigilant.

Most wireless industry experts, however, predict that someday teachers in secondary and higher education will administer tests on PDAs, formatting them so that every student has a different set of questions. Imagine how upset you'd be if the answer you received from your friend corresponded to a completely different question.

"The teacher can send a short reminder or information note by using SMS-messages simultaneously to one or multiple students," said Mika Konnola, president and CEO of Capslock, a wireless service and applications developer based in San Jose, California. "The latest phone models offer easy-to-use group messaging features and a single message can have multiple receivers."

In countries including the Philippines and Finland, SMS use is most ubiquitous among youth who use the service to chat and flirt with each other.

XML/XBRL Website of the Week

Neil Hannon's XBRL Resource Center at 

Section One: Introduction to XBRL
Section Two: XML and The Financial Community
Section Three: What is XML and XML Basics
Section Four: What is XBRL
Section Five Why Financial Professionals Will Use XBRL
Section Six History of XBRL
Section Seven XBRL Instance Documents
Section Eight XBRL and XML Case Studies
Section Nine Glossary of Terms
Section Ten Questions and Problems

Thanks for visiting the XBRL Education Resource Center. Be sure to visit for more information

Neil also clued me into the following: 

Navision Software releases the first XBRL-enabled financial system, Navision Financials 2.50.

[August 02, 2000] "Navision Software Releases XBRL Solution; XML-Based Financial Reporting Language Now Available in Navision Financials 2.50." - "Navision Software, a leading worldwide provider of business management solutions to the middle market, announced today that it has released its XBRL solution, one day after the publication of the official XML-based taxonomy. XBRL (eXtensible Business Reporting Language) is a free specification that first appeared on the financial and accounting scene in October of 1999. It uses a financial reporting specification, agreed upon by key members of the financial information supply chain, that allows an open exchange of financial reporting data across all software and technologies, including the Internet. The XBRL coding contained in Navision Financials 2.50 will enable customers to more easily and efficiently connect and communicate with both competing products in the ERP space and complementary products such as Caseware. For example, a set of subsidiary offices using Navision Financials can now more quickly collaborate with a parent office using a larger ERP system, while realizing significant time and cost savings. XBRL offers several key benefits: technology independence, full interoperability, efficient preparation of financial statements and reliable extraction of financial information. Information is entered only once, allowing that same information to be rendered in any form, such as a printed financial statement, an HTML document for the company's Web site, an EDGAR filing document with the SEC, a raw XML file or other specialized reporting formats, such as credit reports or loan documents. More than 80 percent of major US public companies provide some type of financial disclosure on the Internet. Investors and users of the Internet need accurate and reliable financial information that can be delivered promptly to help them make informed financial decisions." See XBRL Taxonomy - "Taxonomy for the creation of XML-based instance documents for business and financial reporting of commercial and industrial companies according to US GAAP."

Neil will probably keep his XBRL/XML helpers more up to date than me, but I do maintain some threads at  

Network Social Science Tools and Resources 

What is NESSTAR?
NESSTAR is an infrastructure for data dissemination via the Internet. The NESSTAR Explorer provides an end user interface for searching, analysing and downloading data and documentation. The NESSTAR Publisher provides the tools and resources for making the data and documentation available via the Internet. NESSTAR is funded by DGXIII of the European Commission under the 4th Framework Telematics Applications Programme.

NESSTAR Explorer

NESSTAR is a system for data discovery, location, browsing and dissemination via the Internet. The NESSTAR Explorer offers a free tool to find data across organisational and national boundaries and for browsing and downloading both data and metadata. The Beta 2 version (preliminary) can now be downloaded. NESSTAR Explorer 1.0 will be released in February 2000. 

NESSTAR Publisher
NESSTAR Publisher is a collection of tools and resources that enables data publishers and distributors to disseminate data via the Internet. It is based on the DDI DTD, a standard proposed by an international committee of data librarians and statisticians. The consortium has already, and is continuing to, put together a range of data and metadata loaders for this standard. (More information will be available soon.) 

The NESSTAR System Architecture
The NESSTAR software development builds on state-of-the-art technology like Java, XML, CORBA etc. An overview of both the NESSTAR Runtime System and the Offline tools are shown in the diagram. More details can be provided on request from the software manager, Jostein Ryssevik

Web-based Education Commission 

Welcome to the home page of the Web-based Education Commission. The Commission was established by Congress to develop specific policy recommendations geared toward maximizing the educational promise of the Internet for pre-K, elementary, middle, secondary, and postsecondary education learners.

Since November 1999, the 16 members of the Commission-appointed by President Clinton, Education Secretary Richard Riley, and the Democratic and Republican leadership of Congress-have been meeting with hundreds of education, business, policy, and technology experts.

Our overarching goal is to establish a “policy roadmap” that will help education and policy officials at the local, state, and national levels better address the critical “digital age” challenges brought about by the Internet and other emerging technologies.

The Commission seeks broad public input on the key issues and potential resolutions affecting the use of the Internet for learning.

The Chair of the Commission is Sen. Bob Kerrey of Nebraska. The Vice Chair is Rep. Johnny Isakson of Georgia. Together they are leading a one-year effort that will yield a comprehensive-and bold-report to Congress and the President by the end of November 2000.

Please visit our site regularly for updates on our progress. In particular, review our mission and objectives and the key policy issues we are exploring throughout the year. We also invite you to submit "e-testimony" directly to the Commission. Your insights will assist us to prepare our final recommendations.

The Journal of 21st Century Accounting --- 

The Journal of 21st Century Accounting is an exclusively online journal dedicated to providing a forum for the accounting academic, practitioner and student. The purpose of the Journal is to provide an outlet for topics interesting and useful to all segments of the accounting community. One half of the Journal will be reserved for papers authored by students. Student submitted manuscripts should be recommended by a faculty member. Co-authoring by faculty and students is encouraged. Topics may include, but are not limited to the following:

Governmental and nonprofit 
Public interest 
Information systems 
Professional practice issues

From Syllabus News August 8, 2000

The University of Iowa's Center for Teaching offers an interactive tool to help teachers set clearer objectives for their courses. Responding online to 53 items about a particular course at, educators in higher education generate scores that can help clarify what it is they are trying to accomplish in the course; find classroom assessment techniques to determine how well they are achieving their teaching and learning goals; and use the assessment results as a starting point for discussion of teaching and learning goals among colleagues.

Also from Syllabus News August 8, 2000

A new technology called Digital Paper may give liquid- crystal displays some competition. The basic component of Digital Paper -- the IMod -- may provide a path to bring video-rate imagery to handheld and other portable elec- tronics devices. 

If you are going to teach a course or course module on ERP you may be  interested in the ERP course materials at   

Dan O'Leary 
University of Southern California

Introducing , the networking-specific search site focused on enterprise networks issues. Register at  for FREE and you might win a new Palm Pilot VII. As an added bonus, you can download the 56-page report on virtual enterprise networks -- "The Network Services Model: New Infrastructure for New Business Models" by The Burton Group -- no purchase necessary!

Networking-related news and technical resources are identified by our expert editorial team led by Paul Gillin, former Editor-in-Chief of Computerworld.  helps you: 1) Efficiently search the Web for enterprise networks info! Search against 2,000+ sites hand-picked by our editorial team so you only get relevant results. 2) Stay current on networking issues and new technologies! Get email newsletters based on your specific interests -- choose from industry news, network administration tips, and career tips newsletters. 3) Learn from the experts! Participate in Live Expert Q&A with industry experts. AND MORE!

Go to  NOW and become a registered member -- ABSOLUTELY FREE! We'll enter you to win a PalmVII and you can download The Burton Group's 56-page report on virtual enterprise networks - all FREE! Don't delay. Quantities are limited so register today before it's too late. is a community. Other sites include:  the enterprise storage-specific search engine  the AS400-specific search engine 
http://www.SearchWin2000 .com the Windows NT/2000-specific search engine  the Application Service Provider-specific search engine  the Lotus Domino-specific search engine  the Visual Basic-specific search engine  the Hewlett-Packard specific search engine  the online IT knowledge exploration tool

Accounting instructors (and perhaps anyone else who wants to keep accounting records) should take a look at NetLedger.  

If you are in need of free personal accounting software (includes online storage space) or know someone who needs help in accounting for a business you should take a look at NetLedger. You can also run (bill customers, receive payments, take orders, etc.) your business online for a small monthly fee.

I plan to plug in a module on NetLedger in my accounting information systems course.  What is unique about NetLedger is that your ASP  records are maintained at the NetLedger website.  You can control access.  For instance, if you have six outstanding invoices from a particular customer, both you and the customer may access the accounts receivable details (if you authorize the customer's entry into his or her account information).

Run your business Totally online and you will sell more and spend less.

Payroll processing is faster and easier - spend less. 
Your customers can order on the internet - sell more. 
No double entry of expense reports and time - spend less. 
Invoices can be paid online, even after hours - sell more. 
We handle backups, upgrades, and network maintenance - spend less.

If you're already using Quicken or QuickBooks to do your accounting, import your data.  Transferring all your data into NetLedger is one-click easy.

At a minimum, you should click on "Take a Tour" at 

Accounting for your business and personal accounts is free.

Running a business has a relatively small monthly fee.

Note to instructors:  To maintain your files you must enter some data at least every 60 days.



Nice to see you in Philadelphia. XBRL, XBRL, XBRL. Ok, now I can answer your note. :-)

I had 9 students test drive NetLedger this summer in my AIS class. The students were positive about the experience with one strong caveat. The system runs great on a cable, DSL or T1 line, and is VERY frustrating at 56k and less. This is because NetLedger built in multiple passes to their server when completing transactions. The traffic back and forth really slows the entire program down. If your students primarily access from "slow" Internet connections, expect some complaining.

Also, the free version which I used in class back in June is limited in functionality. The program will ask the user to upgrade to a higher level of service several times in a session. Each student, however, completed the assignment on time.

I asked my students to take a real company's data (using EDGAR), project out a 10% overall growth for the company, and produce a set of financials for the projected year end. The thought process neccessary to complete the assignment helps strengthen each student's understanding of how financial statement information comes together. Good luck on your course and please let me know if I can be of assistance.

Neal Hannon Bryant College [nhannon@TIAC.NET



I began using NetLedger in May and am impressed with the features you've noted.

On the downside, I found that when you need to do just a little customization--such as adding or changing account titles or account numbers--it's slow and requires far too many repetitive sequences of commands. If you're changing or adding more than a handful of a/c numbers or a/c titles, it's a real chore.

My advice is, when revising your materials and when creating new materials that will contain ledger accounts, use the a/c numbers and the exact spellings of a/c titles that Netledger provides as its default dataset. (I hope that's OK with the copyright folks at Netledger.)

If you really need additional accounts and/or subledger accounts, minimize the number of digits in each account number. Also, abbreviate your new account titles and any subaccount titles at least enough so that they'll fit into the little window Netledger gives you for inputting new titles; otherwise, you'll have to abbreviate them (again) later at the keyboard and, if students do their own abbreviating, no two students will have exactly the same chart of accounts.

Overall, Netledger is an A or A+ addition to the toolkit that the average instructor has available for use in accounting classes.

Bill Carter U. of Virginia


Hi Michael,

I have no authoritative answer on this. However, the owner, Oracle, contends that there is sufficient backup in case of hardware failure. Oracle generally is pretty reliable.

Since you control the password sharing to your own accounts, I suspect that you are liable for your own negligence and NetLedger is liable for its own negligence.

I suspect that the FBI can get court orders to look at your files, so I do not expect that that organized crime players are keeping personal accounts at Net Ledger.

Bob (Robert E.) Jensen 
Jesse H. Jones Distinguished Professor of Business 
Trinity University, San Antonio, TX 78212 
Voice: (210) 999-7347 Fax: (210) 999-8134 Email: 

-----Original Message----- 
From: Everest, Michael Sent: 
Saturday, August 19, 2000 11:21 AM 
To: Jensen, Robert Subject: 
RE: Free Personal and Business Accounting With NetLedger

How does liability work in cases like this? What happens if they loose your (or your customer's) data?

-Mike Everest

A related online accounting website is called Payroll Online at 
I suggest that accountants view the demo.

SmartOnLine is a great website for small business planning --- 

RESEARCH TRIANGLE PARK, NC - April 26, 1999 - Smart Online, a leading provider of current, business information resources for small businesses and entrepreneurs, today announced Smart Business Plan 8.0, its complete, professional resource for small businesses and entrepreneurs. Smart Business Plan enables small business owners of new or existing businesses to easily develop professional, customized business and marketing plans, and acts as a guide for the acquisition of external capital. The documents and information contained within Smart Business Plan remain current as users have access to updates via Smart Online's small business information resource Web site The valuable business information and research contained within Smart Business Plan, supported by its advanced functionality, empowers small business owners with a complete set of professional tools to significantly simplify the process of successfully planning and executing a small business.

Smart Business Plan
To assist the user in the flexible formation of their own customized plans and the acquisition of finances, Smart Business Plan contains an easy-to-use interface to guide users through three main modules-Smart Business Plan, Smart Marketing Plan, and Financial Advisor. The Smart Business Plan and Smart Marketing Plan modules contain 15 plans which include instructions, examples and tables for different types of businesses such as: service; retail; wholesale manufacturing or any customized combination. To easily create professional-looking, three dimensional financial and marketing tables for insertion in plans, an intuitive interactive wizard-Smart Wizard--guides users through a question and answer session. Smart Wizard then analyzes the answers and automatically inserts the chart or table into the specified plan.

The Financial Advisor module provides users with extensive information on seeking funding; loan types; various methods of securing a loan including, which organizations to approach, and information and tips on starting a business. Financial Advisor also informs the user on the advantages and disadvantages of incorporating and franchising.

"Smart Online's Smart Business Plan provided us with the comprehensive resource we needed to successfully plan and execute our business," said Leo Furlong, Owner, Furlong and Company CPA's and Business Advisors. "Due to the valuable assistance and information contained within Smart Business Plan, we were able to aide our clients in devising various forms and business documents for use in their businesses. In addition, my company was able to easily set up several successful limited liability companies in a short amount of time."

Always Current
By simply clicking on Go Online Smart Business Plan users will access Smart Online's business information site Users can access the latest updates to the program and Smart Market Research Online, an online application containing current statistical and demographic information for all states, counties and major cities in the United States. Smart Business Plan also allows the user to access additional resources and tools to assist in business development.

Pricing and Availability
Smart Business Plan 8.0 will be available in June, 1999 for a suggested retail price of $69 US at most retail software and office supply stores nationwide including CompUSA, Egghead Software, Software City, Staples and Micro Center. Smart Business Plan can also be purchased via the Smart Online's business information site at

System Requirements
Smart Business Plan 8.0 requires a personal computer with a CD-ROM drive, a 486 or higher processor with a minimum of 16 MB of RAM running MS Windows 95, Windows 98,or Windows NT 4.0 or above.

About Smart Online, Inc.
Launched in 1999, Smart Online, Inc. is a leading provider of business information resources for small businesses and entrepreneurs. Smart Online is a privately held company with headquarters in the Research Triangle Park, North Carolina, USA. Originally founded in 1993 as American Institute for Financial Research (AIFR), the company and its management team has extensive experience in the research, development and delivery of business productivity solutions and online information resources to the small business market. For more information about Smart Online, Inc. please visit the company's Web site at

For more information about Smart Online, Inc. please visit the company's industry-leading small-business action and resource center at

You can also manage your business using ---™ is an Internet service that delivers powerful tools to help sales teams manage their sales activities—in one browser-based solution.

As easy to use as your Web browser,'s premier application enables companies to securely access, manage, and share sales information—anytime, anywhere.

How does work?

With, there's nothing to buy or install. Just sign on to the service using a standard Internet browser. Because is an application that runs on the Internet, you never need to hassle with technical issues. You and your sales team can be up and running quickly. And cost-effectively.

For just $55 per user each month, your sales team can have the tools it needs to operate at its maximum potential. Sign up now and your first 5 users are FREE for the first 6 months.

Why use brings the power of the Internet to your business to help your sales team work more productively and effectively. Use to:

  • Track your sales activities quickly and easily with's intuitive user interface.
  • Access your important sales information anytime and anywhere from a secure, professionally-managed online destination.
  • Consolidate all of your sales activity into a personalized, centralized sales destination that includes account news and stock quotes, travel, maps, email, calendar, and much more.
  • Eliminate the need for additional IT resources.
  • Import your existing sales data from any source, including ACT!, Outlook, Goldmine, and SalesLogix using's simple import wizard utilities.
  • Support as many users and as much data as you need.
  • Tailor to match your company's sales processes with powerful customization features using easy drag and drop functionality.
  • Put sales information into your sales team's hands where they need it most—on sales calls, or even on the road—with our flexible mobile solutions.

What additional services does offer?

In addition to our core sales management solution, also provides the following services:

UpShot ESP - UpShot ESP is for organizations that need special assistance deploying our application and require service level agreements backed up with financial guarantees.

UpShot Data Delivery Service - For companies that prefer to retain a physical backup copy of their data at their corporate site.

What tools does provide your sales team? enables companies to access, manage, and share sales information—anytime, anywhere.

This complete, all-in-one solution enables you to:

  • Centralize and track all sales activities with Deal Management to improve sales team effectiveness.
  • Consolidate customer data with Contact Management and watch deals close faster and with better results.
  • Save time and improve sales team efficiency with Time Management.
  • Improve sales relationships with effective Customer Communications tools.
  • Prioritize prospects with Customer Management and help your sales team focus on revenue-generating opportunities.
  • Simplify the sales prediction process with's unique Forecasting tool.
  • Quantify and improve sales efforts with customizable, analytic Custom Reporting features.
  • Strengthen relationships and optimize indirect sales opportunities using Channel Management for improved partner support.
  • Use's Custom Fields to maintain and track the information that is unique to your business.
  • Send leads directly from your Web site to using Web Lead Capture.

Pay Your Bills Online 

For security services and consulting, one of the leading websites is at 

SystemWatch(tm) Eliminates network downtime with the strongest, most scalable system management tool available.

AppWatch(tm) Monitors and manages site specific, mission critical applications.

TrendWatch(tm) Historical trending and capacity planning is simple with TrendWatch.

MyFreeDesk is becoming a very popular website at 

ew name - Yes, we shortened our name. is the same as This is just the first of many significant changes that will improve our site and the products we deliver to our users. If you have already registered, your old MyFreeDesk email address is still valid and will be for at least two or three months. Your mail-to address that goes out with your email will be changed to FreeDesk.

Free Applications from Anywhere - FreeDesk is a revolutionary idea…allowing access to powerful office applications via the Internet from any computer, anytime, through any supported browser…and for free! When you log in, your browser will automatically download a small (<1.0 MB) program that will enable your computer to operate our software applications.

FreeDesk Office Suite - Our office suite is a server-based application that includes a fully featured word processor, spreadsheet, presentation & graphics program, webpage editor, and email. This system is able to import and process files from Microsoft, WordPerfect and other file formats.

Access Anywhere - You can be sitting at home, in your office, or at a friend's or client's computer, and you can be connected to a powerful computer called a server and doing your office work across the World Wide Web.

Free File Storage - A virtual C: drive is available only to you. You are given 50 Megabytes of storage space for your files on FreeDesk systems! These files are accessible only to you and can be reached from any Internet connected computer

Free Collaboration Tools - You and other associates sitting at different computers connected to the Internet can collaborate in several ways. First, you can use the office suite and share documents for different time and different place collaboration. Second you can use the office suite and log in to the same document file at the same time to work on it simultaneously. Third, using the whiteboard, message board, chat board, and phone connections you can work out problems online.

Frequently Asked Questions - We have compiled a list of Frequently Asked Questions received from our users. Check out our Frequently Asked Questions.

Live Shared Email from --- 

You provide the email list for each topic and your friends or students receive live updateable messages.  The system revises messages as each person responds --- cuts down on the number of email messages.

This is a great free site.  If you don't have time for such an encyclopedia, tell your kids to check it out.  From Yahoo:

Eyewitness Encyclopedia 

The arrival of the Eyewitness Guides to the Web is just cause for celebration. For those of you familiar with the books, you can now scan and search through their entire contents online. Neophytes are in for a treat -- these illustrated, introductory titles cover an array of topics: cinema history, international espionage, Vulcanism, Monet, early flying machines, primary colors, and more. Writing research papers just got ridiculously easy. These books are plain cool -- see for yourself.

From InformationWeek Newsletter, August 8, 2000

Cutting ERP Down To Size

Large financial enterprise systems from vendors such as Lawson, Oracle, Peoplesoft and SAP are suitable for Fortune 1000 companies with large IT and accounting departments. But if a company has a small IT department and no accounting department at all, ERP applications have very little to offer.

The Internet may change that. Small and midsize companies will soon have access to the power of larger financial and ERP systems through a new breed of application service providers. Web-hosting financial applications is not a new concept; Oracle's application hosting unit, Oracle Business OnLine, has being offering that service for over a year. But new accounting-service ASPs are offering more than just the hosted application. They also offer bookkeeping, accounting and back-end transaction services. Some also simplify the interface to make it friendlier for small business users.

"A standard ASP might have reduced our IT responsibilities, but we'd still have to staff up a complete accounting department," says Robert Krolik, CFO at Karna LLC in San Francisco. The company, which makes optical technology used in computer mice for the gaming and medical equipment industries, hired to deliver Web-hosted access to Oracle Financials and general accounting services. - Larry Stevens

Read on: 

Supersize your web searches (over 70 search engines go looking for you with just one click) --- 
(Also you can do product shopping searches in Copernic 2000.)

Your groceries will be delivered tomorrow or sooner in certain cities.

San Francisco Bay --- 

NYC --- 

Various cities --- 

And don't fprget the longer listings at 

Links in PDF files

Open the PDF document in Adobe Acrobat 4.0. The link tool is on the left side tool bar - it looks like two pieces of chain hooked together. Click on the link tool and drag the cursor over the hyperlink or the text that you want to link to a URL. A Create Link box will pop up. Under Appearance, select invisible rectangle. Under action, select World Wide Web Link. Click the Edit URL button. Enter the URL and click OK. Then click Set Link.
Chula King

Ubiquitous Computing and Micro Robotics
I maintain some rather neglected threads on ubiquitous computing (small computers embedded in most everything we use in life, including some body parts).  Xerox Parc (the place where the mouse and GUI interfaces were born) has focused much of its research in recent years on ubiquitous computing.  You can see my threads on this topic at 

My  August 20, 2000 additions include the introduction of tiny computers in clothes that Europeans can purchase soon.  See "E-Clothes Here" by Joyce Slaton at,1282,38288,00.html 

Futuristic thinkers have long predicted the rise of wearable computers able to do everything from communicate body temperature to a room's air conditioning system to diagnosing certain medical conditions.

Those predictions may become reality next month when the world's first commercially available electronic clothing hits the European market.

Along with it come concerns about potential health dangers.

The first designs from the ICD+ line, a collaboration between European electronics giant Philips and American clothes manufacturer Levi's, are four jackets equipped with a Philips-made GSM-standard mobile phone, MP3 player, and a remote-control device to power both.

"We're looking at a very targeted audience -- the new nomads who are constantly on the move and need to be connected constantly to technology," says ICD+ spokesperson Neil Stevens. "This is aimed at the very technologically sophisticated and urban customer who wants functionality, convenience, and simplicity in technology."

That functionality comes at a high price: from US$600 to US$900, costly enough to render them an interesting oddity to all but a few moneyed geeks. Accordingly, ICD+ is producing only 600 of the jackets and sprinkling the units in select retail stores in Italy, France, Great Britain, Sweden, Germany, and Greece.

But it was the potential bodily effects of tech-integrated clothing that has elicited the most controversy on geek discussion boards and mailing lists. Some people are concerned about the potential for electric shocks, a hazard Stevens insists is baseless due to the jackets' waterproof construction.

Yet a more nagging risk lingers. In the wake of reports and studies that link mobile phone usage to cancer, concentration lapses, and long-term memory loss, many experts are concerned that devices worn in constant proximity to the body may prove even more dangerous.

Tiny robots are also on their way into our lives.  See "Big Promise in Thinking Small" by Kendall S. Powell at 

Researchers are building tiny robots in hopes of opening exciting new frontiers in medicine, computing and many other fields.

The idea: Armies of robotic insects.
     The possibilities: Farmers "infest" crops with thousands of sensor ants to report soil and weather conditions in the farthest reaches of the fields. For the espionage-oriented, deploy electronic dust motes to cross enemy lines on the wind, unnoticed. Or, more mundanely, plant one on little Jimmy's sneaker and know where he is at all times.
     The world of MEMS, or microelectromechanical systems, is progressing toward self-sufficient micro-robots. On an even smaller scale, NEMS, the nanoscale equivalent, are popping onto the scene and gaining national attention.
     Researchers are convinced that these small devices, particularly nanostructures, will open new frontiers in medicine, sensor technology and computing and even change how we control matter.
     Last month, the National Science Foundation announced a Nanoscale Science and Engineering initiative to provide an estimated $74 million in funding for nanotechnology research. President Clinton has requested up to $495 million for nanotechnology research in his fiscal 2001 budget. He acknowledged in a speech at Caltech in January that, "Some of our research goals may take 20 or more years to achieve, but that is precisely why there is an important role for the federal government."
     In June, graduate student Edwin Jager and his colleagues at Sweden's Linkopings Universitet unveiled the first micro-robot--actually an arm--to operate underwater, an important feature for biological uses.
     In fact, by design, the tiny limb must operate in salty water containing electrolytes, similar to body fluids. By making ions--electrically charged particles--flow through its miniature "muscles" and "joints," the scientists cause shrinking or swelling that correspond to contracting or extending a tiny arm, wrist and hand.
     Jager constructed the arm--no bigger than this dash--using photolithography, a.k.a. microchip-building technology.
     Talented hands and chemistry created a flat version of the arm by applying layers of gold and a conducting polymer on a silicon wafer in specific patterns and then etching out desired shapes. Then a "glue" layer was dissolved to release the 3-D functioning arm. Using this process, 140 arms were made on one quarter of the 10-centimeter wafer: Each arm consisted of an elbow joint still attached to the wafer, a wrist joint and two to four finger joints, each independently controlled.
     Each arm can lift and move a "boulder-sized" glass bead--relatively speaking, of course. It can sort beads onto conveyor tracks. Although there is not a huge market for sorting of teeny-tiny beads, the movements could be applied to human cells one day, Jager said.
     "It's always been science fiction, you know, robots in the body . . . and now it's real. This is one step, one demonstration of the possibilities of microsystems technology," Jager said.
     Scaling down to the parts of a cell, for repairing individual cells or DNA, requires thinking even smaller, down to the nanometer. The concept of "nano" has crept into everyday slang as in, "give me a nanosecond," but to scientists "nano" means working on the scale of one billionth of a meter. For reference, a nanoparticle used in the lab compared with a paper clip stood on end is like a ladybug compared with 20 stacked Eiffel Towers.
     "I worked at the micron scale [before], and the jump to nanoscale is a whole new way of working. It's a frontier," said Sheffer Meltzer of USC's Laboratory for Molecular Robotics.

Our faculty expert on robotics is Kevin Nickels in the Department of Engineering Science at Trinity University.

Other ubiquitous links of interest include the following:

Phone Fears: Malignant or Benign?
These Boots Were Made For Talking
I Spy With My Super Eye
Tinker around with Gadgets and Gizmos
Discover more Net Culture

Teaching Resources and Materials for Social Scientists (TRAMMS) -- Economic and Social Research Council

One of the highlights at the Philadelphia American Accounting Association annual meetings was a presentation by Liv (Live Wire) Watson at the IMA Breakfast.  She has been active in the XBRL standards development and does a nice show on the future of technology and networking.  She is employed by Gaither Technologies LLP at   Besides, she's Norwegian so she has to be good!

I am rather impressed by the free resources at the above website.  One section provides free downloads of presentations.  The list to date includes the following:

Before You Design a Website --- web design.ppt 

XBRL and the Benefits --- 

Internet Basics --- 

50 Ways to Use Your Zip Drive --- 



The Hidden Treasures of the Web --- 

Accounting System Technology for the 21st Century --- 

Liv's presentation at the Philadelphia meetings is at 
I recommend that you take a look at her slides!  They are filled with exciting links.

Greatest Engineering Achievements of the 20th Century --- 

Let's face it: Privacy and the Internet are oxymoronic, says John Tascheck --- 

From InformationWeek Newsletter --- August 9, 2000

Women Dominate The Web

In an indication of how much the Internet has evolved from its roots as a male-dominated research medium, a new study shows women on the Web now outnumber men, and their ranks are growing far faster.

The study, released on Wednesday by Media Metrix and Jupiter Communications, shows strong increases in all age groups of women using the Internet in the United States, except for those between 18 to 24, whose usage actually declined from last year.

"Women in the college age group appear to have more offline interests and more offline business to take care of," said Anne Rickert, a Media Metrix analyst and co-author of the study. "Everyone has a life offline, but some age group's find their offline lives are better served by online resources. For the 18 to 24 age group, aside from academics and some shopping, the Web perhaps does not directly relate to their lives."

Overall, the study found that during the first quarter of 2000, women and girls made up 50.4 percent of the total U.S. Web audience -- the first time in the history of the Internet that they have outnumbered men. - Reuters

More detail: 

Impressionism (art, history) --- 

Are some of the free documents at your website being sold without your knowledge?
The Contentville website is at 
The only thing I found was that my 1966 thesis from Stanford University is for sale --- I would not advise paying to read that!
Search Tip:  Click on the Advanced Search button in just beneath the "Go" button!

From David Middleton

The Shakespeare Conference: SHK 11.1469 Wednesday, 9 August 2000.
From: John D. Cox <>  
Date: Tuesday, 8 Aug 2000 12:24:32 -0400 
Subject: Contentville

I apologize for a notice that does not bear directly on Shakespeare but does address concerns by many people on this list. The notice concerns Contentville, the website that sells printed material, including unpublished dissertations (without the writer's knowledge). Appended below are some press clippings assembled by my colleague at Hope College, Lisa Evans, who teaches psychology:

[Editor's Note: Out of curiosity, I checked the Contentville site and found my own dissertation and an article I published in 1992 on the Jane Howell BBC First Tetralogy. -Hardy]


Press Clips by Cynthia Cotts The Village Voice July 26 - August 1, 2000

PARTNERS IN COPYRIGHT SCAM Contentville Mystifies Writers & Publishers


Last week, you could hear lots of honking and yelling on the road to Contentville, the new Web site that sells books, magazine subscriptions, and collected news articles, inviting its readers to "rejoice." But this was a case of road rage-with an angry phalanx of writers, from PhD Scholars to Harper's contributors, accusing Contentville of selling their work without asking permission.

The complaints first surfaced on Jim Romenesko's Web site, with many demanding that their content be taken down immediately.

On July 19, Contentville founder Steve Brill took the time-honored step of e-mailing Romenesko, braying his commitment to "decent ethics" and his intention to work out a deal with the National Writers Union whereby freelance authors could be paid royalties.

Meanwhile, Contentville reassured writers of its legal standing, and by the end of the day, posted a story declaring Brill's hawking of PhD dissertations to be "all perfectly legal."

MSNBC's snap judgment was a little suspect, given that Microsoft and NBC are partners in Contentville. (No mention of this in the story.) But forget the conflicts of interest, and forget the little people who felt violated by the media watchdog. Brill's experiment is only a few weeks old, and at least one publishing company has accused him of stealing its intellectual property.

"How the hell did they get our archives?" fumed David Schneiderman, CEO of Village Voice Media, upon learning that Contentville is selling hundreds of Voice articles, including the work of Michael Musto and Nat Hentoff along with that of scores of freelancers who retain the rights to their work. Individual articles are going for $2.95 a pop, prompting Schneiderman to ask, "Why should we let Contentville sell this stuff to readers who can get it on our Web site for free?"

On July 21, upon learning that an obscure company called EBSCO holds the right to market Voice archives to libraries, the Voice lawyer fired off a letter to Brill, claiming that EBSCO's 1994 contract with the Voice was intended for educational and research purposes, and that the contract was rendered void by the sale of the Voice earlier this year. She requested that Brill remove "any Village Voice material" at once.

EBSCO Publishing, based in Ipswich, Massachusetts, is a Contentville partner, along with NBC, CBS, Microsoft, and so on. In addition to selling magazine subscriptions, EBSCO has traditionally been a middleman, licensing content from hundreds of publishers to build electronic databases and offering those archives to libraries by subscription. By getting EBSCO out of the library, Brill has created a kind of poor man's Nexis, giving anyone with Internet access and a credit card the means to do quickie research. (Contentville has no connection to Lexis-Nexis, which charges high rates for a superior service.)

Despite the questions, Brill is confident that everything's on the up-and-up. "EBSCO guarantees the validity of third-party contracts," he said in an interview last week. "They're selling all this stuff now and they've been selling it for 10 years to libraries. Our due diligence was, they told us we have the right to sell this to you."

However, due to a lack of transparency on the site, the provenance of the Contentville archives remained a mystery last week. From The New Republic to U.S. News & World Report to Adoptive Families magazine, few seemed to know how Contentville had acquired their content.

"I was not aware that EBSCO was licensing our content to Contentville," said John Lerner, vice president and general manager of VNU eMedia, whose stable includes MediaWeek, AdWeek, BrandWeek, and Editor & Publisher. Lerner says that at this point, he doesn't know whether EBSCO is acting within its rights.

A source at the Christian Science Monitor said that on first glance, Contentville's use of the paper's archives appeared to be valid under an EBSCO contract and under the paper's standard freelance contract, which assigns nonexclusive electronic rights to the Monitor.

According to the source, the Monitor goes out of its way to respect freelancers' rights because it is owned by the First Church of Christ, Scientist, whose purpose is "to injure no man, but to bless all mankind."

If only the same could be said of Steve Brill. Brill says his site has made "direct contact" with major media companies to secure explicit permission to market their archives. Cond&#65533; Nast turned him down, but Mort Zuckerman, who owns U.S. News & World Report, said yes. Contentville is currently negotiating a deal with Time Inc. that would allow the new site to sell articles from Time and Fortune. Harper's now says a legitimate EBSCO contract exists.

Brill says his people approached The New York Times directly, and a spokesperson for New York Times Digital confirms that the paper has a "distribution arrangement" that lets Contentville sell articles from the last 365 days of its archives. (The archives of other major papers, such as The Washington Post and the Los Angeles Times, are not being sold on the site.)

Tim Collins, general manager of EBSCO Publishing, declined to comment on whether EBSCO is exposed to contract disputes. When asked how publishers were informed that EBSCO planned to market their archives via Contentville, he said EBSCO notified more than 100 companies in its quarterly newsletter, which was sent out with the two most recent royalty checks in 2000. Asked if he considers that sufficient notice, he said, "EBSCO could have done better."

Collins says EBSCO pays royalties to the publishers, who are responsible for paying their writers. If a writer indicates that he or she owns the copyright to an article, EBSCO removes the article from its database. He says if the Voice requests the removal of its archives, it will take about "two weeks."

Brill says that will happen, unless he can persuade the Voice to sign on. Asked how he justifies selling readers something they can get elsewhere for free, he says people will pay for the "convenience" of having so much material in one place. However, if you read the fine print, Contentville promises readers that "we'll tell you" if material for sale there is "available elsewhere for free." But look up a Voice article, and you'll find no such notice.

Jonathan Tasini, president of the National Writers Union, is scheduled to meet with Brill July 25. Based on his talk with Brill last week, Tasini believes the media watchdog is "genuinely interested" in achieving a fair resolution. "He's a leader on the issue of ethics in journalism, and the improper use of writers' work on the Internet is an ethical question," says Tasini. "If we come to an agreement, he can be a megaphone to the rest of the industry."

But David Wallis, a New York-based writer who is planning to launch an elite freelancers agency, sees Brill's cozying up to the National Writers Union as a "dodge," and a reaction to the "terrible publicity and backlash" of last week. "As a media watchdog," Wallis says, "Steve Brill has rabies."

Editor/Publisher, shunpiking magazine Offices: 6211 North Street (at Windsor), Halifax, NS B3L 1P4 Mail: P.O. Box 31377, Halifax, NS B3K 5Z1 Canada Telephone: 1-888-TRY-SHUN, (902) 455-4922; Fax: (902) 455-7599 E-mail: <


Dear Writer:

Subsequent to a meeting between Steven Brill and the U.S. National Writers Union (NWU) on July 25th (at which the NWU also represented the concerns of Canadian writers via the Periodical Writers Association of Canada), Contentville is issuing the following e-mail to concerned writers:

"Contentville is committed to respecting the copyright of individual authors and compensating them fairly-or, if they wish, removing their materials from our site.... We have met and had positive discussions with the [U.S.] National Writers Union and Publishing Rights Clearing House (who were also representing the concerns of Canadian writers via the Periodical Writers Association of Canada and the Canadian Copyright Licensing Agency) to come up with a plan to compensate authors for any sales of their articles. We are working to finalize these arrangements as soon as possible and hope to get back to you with details within ten days. These arrangements will be offered to all writers-not just members of the National Writers Union or the Periodical Writers Association of Canada. In the interim, we are committed to making these arrangements retroactive to Contentville's first day of business. We are excited, and hope that you are, that this arrangement will create an appropriate forum for authors to realize revenue on their work and provide a solution to everyone's satisfaction."

If your work appears on the Contentville site without your permission, please e-mail details to the PWAC National Office as soon as possible (even if you have already sent that information to another professional organization). If you are currently a member of CANCOPY, you will eventually be compensated through that collective. If you are not a member of CANCOPY, we urge you to join as soon as possible (see information below). However, if you do not wish to be compensated in this manner and simply want your material removed from the Contentville website, please contact Contentville as indicated below.

We will continue to keep the writing community informed of developments. Please do not hesitate to contact the PWAC National Office if you have any questions or require further information. A recent article from The Village Voice appears below, as a backgrounder.

Sincerely, Victoria Ridout PWAC Executive Director

TO REPORT YOUR WORK APPEARING ON CONTENTVILLE WITHOUT PERMISSION, PLEASE CONTACT: PWAC National Office Phone: (416) 504-1645 Fax: (416) 504-9079 E-mail:  < 

TO JOIN CANCOPY, PLEASE CONTACT: Canadian Copyright Licensing Agency Phone: (416) 868-1620 Fax: (416) 868-1621 E-mail: < 

TO HAVE YOUR WORK REMOVED FROM CONTENTVILLE PLEASE CONTACT: Catherine Seda, Copyright Agent of Contentville Phone: (212) 332-6400 E-mail: < 


Yup, mine is there too.

Funny though, mine (his dissertation) is the only one under the blue light special--It's on sale for $0.25. Still sounds over-priced to me.


Jim Hunton
Hunton, James


Hi Jim,

You should claim your fee of $0.075=(30%)($0.25).  Actually, the royalty only applies to members of the Writers' Union.

Bob Jensen

Tuesday's Wall Street Journal said that signed an agreement with the Writers' Union to facilitate a 30% royalty on all members' work (mostly freelance writers)
Richard J. Campbell

The article was written in the Financial Engineering News by Bernard Lee. Issue 14 --- February 2000 

Here is the paragraph where u were quoted:

......"There are several practical advantages to this proposition. Firstly, the  dollar-offset (PV) approach recognizes both the hedging error and a noise  term in earnings. In contrast, the statistical (correlation) approach  recognizes only the hedging error and leaves any unrealized noise term at  its fair value of zero. Indeed, the former method introduces volatility in  earnings that can be seen by some as at best unnecessary. In the extreme  case, one can construct accounting scenarios consisting of all noises with  negligible hedging errors. An excellent illustration of how a real-life  "perfect" hedge can introduce volatility in earnings has been provided  Professor Robert Jensen. Secondly, recognizing a zero-mean noise term in  earnings may have negative tax consequences, as profits are taxed while  losses are not. In a long-term hedging relationship, a profit taxed this  year may be offset by a loss accrued next year; but the Statement provides  no clear provision on recovering any tax paid. Although this may not be a  serious problem for a large trading book in which zero-mean profits and  losses are expected to cancel out, it nonetheless introduces an unnecessary bias into the accounting scheme that could have easily been addressed by deferring the correct amount in the first place"..

sajjad [

From Bob Jensen:
Note that the article in question is at 
"A Consistent Approach to Measuring Hedge Effectiveness" by  Bernard Lee

This article proposes a consistent hedge-effectiveness measurement scheme for hedge accounting under Financial Accounting Statement (FAS) 133 and International Accounting Statement (IAS) 39. More specifically, it derives a consistent deferral accounting calculation scheme based on what the Financial Accounting Standards Board and the International Accounting Standards Committee had originally wanted to propose as a hedge-effectiveness measuring mechanism, using history as our best guide to the future.

You will see that Infinity HedgeCORRect™ as a statistical (correlation) approach to measuring hedge effectiveness has the following advantages:

Smooth earnings due to the building up of a just enough deferral reserve

Favorable tax treatment

Consistency in overall risk and hedging analysis.

It should be noted that the level of mathematics introduced by HedgeCORRect™ is significantly above that commonly used in traditional or Generally-Accepted Accounting Practice. While HedgeCORRect™ may be viewed as a theoretically correct solution, we want to be realistic about the amount of mathematics that can be introduced into a day-to-day accounting scheme. One important goal in this paper is to derive from HedgeCORRect™ a consistent, but less mathematical scheme as a practical alternative to hedge accounting.

In short, our proposal is:

Use the statistical (correlation) method for ex-ante assessment.

There is a corresponding, fully consistent dollar-offset (PV) method for ex-post assessment.

If, however, one expects unstable forecasted correlations, there is a significantly more accurate statistical (correlation) method available for ex-post assessment to keep track of the expected surplus/deficit in the deferral calculations.

Choices of Effectiveness Testing Methods

Firstly, neither Statement specifies a method for effectiveness testing. According to paragraph 62 of FAS 133, "This Statement does not specify a single method for either assessing whether a hedge is expected to be highly effective or measuring hedge ineffectiveness." Similarly, paragraph 151 of IAS 39 states that "[t]his Statement does not specify a single method for assessing hedge ineffectiveness." However, FAS 133 does provide examples of assessing effectiveness by comparing historical PVs and by measuring forecasted correlations. Even in the given examples, the ineffectiveness calculation used to drive accounting entries is based on the chosen method of measurement. Clearly, the Statement has made a deliberate effort to allow room for different methods to be applied. In addition, the Statement provides specific criteria of when effectiveness testing may be by-passed altogether: such as by matching principal amounts, indices, reset dates, embedded options, maturity date, and commodity delivery points.

Secondly, once the user decides on a particular method of testing, the results are applied rather differently toward deferral accounting for cashflow hedges as opposed to fair-value hedges. In the case of cashflow hedges, deferral accounting can be applied up to the effective amount, but overhedging must be recognized up-front. In the case of fair-value hedges, all P/L variations due to any ineffectively hedged amounts must be recognized in the current period.

Thirdly, paragraph 62 of FAS 133 requires the "consistent application of a defined method" both a) at inception and on an on-going basis for measuring expected effectiveness and b) for measuring the ineffective part of the hedge. Likewise, paragraph 147 of IAS 39 states that "[t]he method an enterprise adopts for assessing hedge effectiveness will depend on its risk management strategy." The key concept introduced by both Statements is consistency with respect to the entity’s risk management strategy. Any change of measurement method will need to be justified and the trade-to-hedge relationship will need to be designated anew. Moreover, "an entity should assess effectiveness for similar hedges in a similar manner; use of different methods for similar hedges should be justified."

Air Traffic Control System Command Center 

Facts about flight delays, weather, etc.

Small Business Helpers --- Assessment Tools for MicrofinancePractitioners --- The SEEP Network 

Also see Guides @,7434,,00.html 

Documenting a Democracy: Australia's Story --- 

Homework Online A FREE service where Teachers can post homework assignments on the Internet. Students and parents can then access these assignments at will! ---  

The Corporate Library 

UFO Documents --- 

The Declaration of Independence (American History) 

The Oregon Trail 

Railway Women in Wartime (art, photography, history) /

The Five Paragraph Essay 

Hi Tony et al,

Perhaps journal editors live on a different planet, but it is certain that the goals and constraints of journal editors are far different from the goals and constraints of the AAA leadership and program directors.

Professor Briloff is one of my heroes. Over many years he has been a key watchdog and whistle blower in our profession. I especially like parts of his response to the reviewing process in this instance, and I am grateful that you published the piece from Professor Ward. I agree that the accounting profession has slipped in many respects from his perceptions of professionalism earlier times when firms were not dependent upon retaining really big clients. However, he just does not make a case that the referees were out to protect the Big 5 and were incapable of making independent academic recommendations on this research.

Editors like you (Tony) know that it is common for authors (and colleagues of authors) to differ widely and heatedly with the conclusions of journal referees. It is possible for editors to disagree with their own referees. I once received a paper along with referee reports and a note from the Editor of The Accounting Review asking me to see if I could find more merit in the paper than the referees found. But if you are going to live with the refereeing process, you must live with the judgments of your referees. The worst kind of referee is a cavalier referee who sweeps the paper aside with a terse line or two. The editor in that case has a responsibility to find another referee. The best kind of referee shows a genuine understanding of the paper and suggestions as to how the paper can be improved.

I once advocated refereeing transparency, including the publishing of both working papers and online drafts of referee reports --- a little like turning a research paper into an online saga. However, I later questioned my own advocacy for reasons similar to why the transcripts of jury deliberations are not made public. Publication of jury transcripts might intimidate jurors and cause them to not make waves or to buck prevailing opinion. Then again, some jurors might buck prevailing opinion for the sake of venting their opinions irrespective of weak links between their remarks and a specific issue at hand.

It would seem that the neither the editor nor the referees in this instance are guilty of not understanding Professor Briloff's paper in considerable detail. A relatively large effort was spent both to understand the paper and to ponder its strengths and flaws. The fact that the flaws stood out stronger in the eyes of the referees than in the eyes of the author is a judgment call. I don't especially agree with the call in this instance, but I respect the call. The good news is that there are other publication outlets and authors in general are not handcuffed by a particular "jury's" decision.

I guess that my bottom line conclusion in this instance is that any innuendo that the referees of AAA journals are conspiring to protect their beloved Big 5 is both an insult and criticism "from another planet." I see no evidence of such a conspiracy. What I see in this particular example is a tough judgment call that all editors and referees must make at some time.

I am certain that, as a long-time editor Tony, you have had to make many tough calls. Tough calls are part of the refereeing process. I even published some of my rejections as "The Big Ones That Got Away." But I have never held a journal editor or a referee in contempt unless there was evidence, in my mind, that the process was superficial with little or no time spent on being professional as a referee. This does not appear to be the case in your example.

There is one added thing about bias --- biased people are generally unforgiving and paint organizations (a Big 5 firm, the SEC, the police,  the American Accounting Association, government, a religion, or whatever) as always being black (bad) or white (good). They become like the paparazzi seeking sensationalism by always looking for the negative happenings in life and rarely reporting the "good news today" (as in the lyrics of an Anne Murray song). For example, how about reporting cases where auditors acted highly professional to their own detriment? Or give credit where credit is due when an organization changes its policies and practices. Or publish the remarks of an author who admits that he agrees with the referees who rejected his work after reading their reviews. I've got a few examples of working papers that prove I really can be an idiot.

Bob (Robert E.) Jensen
Jesse H. Jones Distinguished Professor of Business
Trinity University, San Antonio, TX 78212
Voice: (210) 999-7347 Fax: (210) 999-8134 Email:

-----Original Message-----
From: TonyTinker [mailto:TonyTinker@EMAIL.MSN.COM
Sent: Thursday, August 10, 2000 8:23 AM
To: AECM@LISTSERV.LOYOLA.EDU Subject: Re: AAA and Small Schools

Bob Jensen paints a very rosy picture about the AAA Executive Committee's desire to make the annual convention more open. He notes that they are "bending over backwards to overcome the stigma of being dominated by research interests in AAA programs, committees, and meetings."

With great respect Bob, "Are we on the same planet?" Isn't this the same AAA whose so-called practitioner-sympathetic journal (Accounting Horizons) that refuses to publish Abe Briloff's critique of Big 5 COSO-report whitewashing? Isn't this the same AAA whose editorial boards, committees, Executive Committee, etc. are stuffed-to-the-gills with Big 5 funded academics from Big 5 favored "research" schools? This level of packing-the-hall violates any reasonable minimum threshold of "independence" that we would apply elsewhere.

Evidence as to the extent that the AAA (and indirectly, your "research" schools) are in-hock to the Big 5 may be found in ACCOUNTING TODAY June 12-25, 2000, "Briloff and the Lost Horizon". Judge for yourself how far the AAA is "leaning-over-backwards" in the Horizon's reviews of Briloff's, at, Here, the original paper, the reviews (and Abe's response) are all loaded. Abe is presenting at a Public Interest Section session in Philadelphia; do please try to come along.


Tony Tinker
Professor & Co-Editor Critical Perspectives on Accounting
The Accounting Forum
Baruch College: Box E-723
City University of New York 17 Lexington Avenue New York, NY 10010 USA Tel: 212 802 6436 Fax: 212 802 6423 Email: Email 
Standing Critical Conference Website:  Accounting Information Systems Course Site:

From Syllabus News on August 8, 2000

The University of Illinois at Chicago's National Center on Physical Activity and Disability has launched a free Web site with information on how to combine physical activity with every type of disability. The information on the site can be customized by users and is linked to a companion call center. The Web address is  The goal of the site is to improve the quality of life of people with disa- bilities by helping them to incorporate appropriate physical activity into their lives.

August 13th edition of the Internet Essentials 2000 

1. Internet Resources Newsletter From the UK 
2. Steven King Knows the Tax Advantages of Home Based Businesses 
3. Bluetooth Is Coming, Bluetooth Is Coming 
4. XBRL Resource WebSite Complete 
5. Navision Software releases the first XBRL-enabled financial system, Navision Financials 2.50. 
6. Cool Tips: All About XML (From iSyndicate Express) 
7. XML NEWS! Live Feed for all News about XML

Pro2Net Accounting Students Newsletter  August 15, 2000

1. Accounting Educators Told: 'Go Back to School' 
2. Elliott Tells Students of XYZ Initiative 
3. Accounting Students Mix and Mingle 
4. Accounting Students Convene in Washington (Dan Rather Exposed)

In an effort to identify potential security risks, a New England bank shares its experiences of having its e-biz links poked, prodded and scanned --- 

Questionable Doctors (look before you beep) 

Closer to Truth --- 

Closer to Truth brings together leading scientists, scholars and artists to debate the fundamental issues of our times. Get Closer To Truth with the public television series, companion book, home videos, audiotapes, this web site and the unique HyperForum. 

Price comparisons --- 

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of August 14, 2000

1. The Week's Top Accounting News 
2. Feature Solutions Articles in Brief 
3. Opinion: Rick Telberg's Insider 
4. Pro2Net Tip of the Week: The Four Cs of a Successful Web Site

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of August 21, 2000

1. The Week's Top Accounting News 
2. Pro2Net at ICPAS Show: To Demo New Site, Cover Breaking News 
3. Feature Solutions Articles in Brief 
4. Save Time, Save Money With Pro2Net's Subscription CPE 
5. Execusite and Pro2Net Team Up 
6. Pro2Net Tip of the Week: Your Private Virtual Office ASP

Pro2Net Accounting Students Newsletter  August 8, 2000

1. Account for Your Future Scholarship Update 
2. What We Think We Know About You 
3. Pro2Net Attendance at Beta Alpha Psi, AAA Conferences 
4. Here Today, Gone Tomorrow: What You Should Know About Consultants 
5. Retirement Planning: Better Pay Versus Better Benefits 
6. Meet the Winner of the BeckerConviser CMA Review Contest

The AccountingWEB Friday Wrap-Up Newswire - Issue 56 August 18, 2000 

1. AICPA Chair Discloses Plans for Accountants of Tomorrow 
2. And it's PwC and AA, by a Nose! 
3. Alliott Group Announces Israeloff, Trattner Leadership 
4. Warning to Olympic Winners: The Taxman Cometh 
5. Business Casual: What Exactly IS it? 
6. Word Tip: Displaying the Filepath on a Word Document 
7. Businesses Will Save Billions by e-Filing Taxes 
8. Accounting Jokes: The Worst of the Web 
9. Andersen Consulting-PwC Merger Rumors Quashed 
10. Counting Beans in the New Economy

August 20th edition of the Internet Essentials 2000 Newsletter 

1. AICPA's Chief Sounds Alarm: We must become Cognitors! 
2. XBRL Steering Committee Update 
3. Significant Advance in Molecular Electronics 
4. Using XML to Streamline EDGAR Reporting 
5. Classic ERP is Dead?? 
6. Getting Personal; How Web Sites Do It 
7. XML NEWS! Live Feed for all News about XML

Because this week's edition of New Bookmarks is so lengthy, I skipped the humor section this week.  Sorry!  I guess if I have to start teaching accounting next week, I better act like one.  

Some of you may recall my story about growing up in Iowa. I recently received a telephone call from the mystery woman named Gwen Egel (I did not even spell her name correctly in the original version of the story). I have added a "Special Update" to the end of the story. What is worth noting in this update is that, after graduating from high school, Gwen accomplished what I would have sworn would be impossible for any wife and mother to accomplish in one lifetime. You have to go to the end of the story to find out what a truly amazing woman she became in a single lifetime. The link is at <>

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on August 22, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


August 9, 2000

Bob Jensen's New Bookmarks on August 9, 2000
Bob Jensen at Trinity University

.I leave for the American Accounting Association annual meetings in Philadelphia and will be away from campus August 11-18.  There may not be any more editions of New Bookmarks for several weeks.

Quotes of the Week:  

"Seven Deadly Sins: 
politics without principle; 
wealth without work; 
pleasure without conscience; 
knowledge without character; 
business without morality; 
science without humanity; and 
worship without sacrifice."
As quoted on the bottom of email messages from Patrick Charles [charlesp@MAIL.CWDOM.DM

Advice to Graduating Seniors by Bill Gates (Forwarded by Dick Wolff):

In Bill Gates's message about life for recent high school and college graduates, he lists 11 things they did not learn in school. He talks about how feel-good, politically correct teachings created a full generation of kids with no concept of reality and how this concept set them up for failure in the real world.

Rule 1. Life is not fair; get used to it.

Rule 2. The world won't care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.

Rule 3. You will NOT make 40 thousand dollars a year right out of high school. You won't be a vice president with a car phone, until you earn both.

Rule 4. If you think your teacher is tough, wait until you get a boss. He doesn't have tenure.

Rule 5. Flipping burgers is not beneath your dignity. Your grandparents had a different word for burger flipping they called it opportunity.

Rule 6. If you mess up, it's not your parents' fault, so don't whine about your mistakes, learn from them.

Rule 7. Before you were born, your parents weren't as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you are. So before you save the rain forest from the parasites of your parents' generation; try "delousing" the closet in your own room.

Rule 8. Your school may have done away with winners and losers, but life has not. In some schools they have abolished failing grades; they'll give you as many chances, as you want to get the right answer. This doesn't bear the slightest resemblance to ANYTHING in real life.

Rule 9. Life is not divided into semesters. You don't get summers off and very few employers are interested in helping you find yourself. Do that on your own time.

Rule 10. Television is NOT real life. In real life people actually have to leave the coffee shop and go to jobs.

Rule 11. Be nice to nerds. Chances are you'll end up working for one.

I completed (wellll, sort of completed really) my first FAS 138 case on value-lock hedging with benchmarked interest rates.  This is either the best case I have ever written or my biggest disaster.  My audience in Sunday afternoon in Philadelphia will have to be the judge in my CPE workshop Number 34.  The accompanying Excel Workbook has been a nightmare to polish.  Since I will be leaving town until August 18, I will not be able to answer email feedback about this case.  I would, however, like to hear your comments and suggestions.  The link to the case is 

The participants in our CPE Workshop 34 are asked to read the case before Sunday afternoon.

I am really impressed by the outline of Dan Stone's presentation of the SCALE asynchronous learning experiments at the University of Illinois (these live experiments were funded, in part, by the Sloan Foundation).  Dan will be presenting these results on August 12 in CPE Workshop Number 1 in Philadelphia as described at 

Those of you who want to attend our CPE Workshop No. 1 on Saturday, August 12 can still do so by filling out the form at 

The UIUC SCALE Experiments By Dan Stone (with help from Lanny Arvan & Burks Oakley)

Univ. of Illinois at Urbana-Champaign, 1988 – 2000 Univ. of Kentucky, beginning 8/2000 ?

Presentation Outline Thanks to …! Motivation Introduction to SCALE & ALN SCALE Research Design / Evaluation SCALE Results The Bottom Line: What creates successful ALN? Thanks to: Bob Jensen, Lanny Arvan (UIUC), Burks Oakley (UIUC) for their enthusiasm, risk-taking, leadership & innovation More thanks & copyright disclosure: portions of this presentation are taken from presentations by Lanny Arvan & Burks Oakley portions of this presentation are taken from the SCALE & CET websites See citations at end of presentation

Presentation Outline Thanks to …! Motivation Introduction to SCALE & ALN SCALE Research Design / Evaluation SCALE Results The Bottom Line: What creates successful ALN?

Motivation Huge investments in asynchronous learning network (ALN) programs (e.g., Penn State World Campus, Stanford-Online, Duke Global Exec MBA) SCALE project: over 80 on-line courses

Motivation Do the SCALE results suggest that ALNs can improve: educational effectiveness? efficiency? access to higher education? What makes for successful on-line courses & programs? Motivation My interest in SCALE & ALN: Teach accounting systems & technology classes Use pedagogy (technology) to teach some course content (technology) Adopted computer aided instruction module in 1991, adopted Powerpoint in 1992 In the first group of adopters of First-Class at UIUC (1994) On-line grading & email software for 6 years On-line, web-based course materials for 3 years Motivation My interest in SCALE & ALN: Lingering doubts … if I weren’t teaching “technology as content” would “technology as pedagogy” be worth the trouble? “Recent surveys of the instructional use of information technology in higher education clearly indicate that there have been no significant gains in either productivity improvement or pedagogical enhancement” (Kenneth Green, 1997, “The Campus Computing Project”). Clark 1991, “Media do not influence learning.” “ALN teaching is arduous.” Presentation Outline Thanks to …! Motivation Introduction to SCALE & ALN SCALE Research Design / Evaluation SCALE Results The Bottom Line: What creates successful ALN? Introduction to SCALE & ALN Sloan Center for Asynchronous Learning Environments (SCALE) (1995-1999) Origin: $2.1 million grant from Alfred P. Sloan Foundation + UI matching Goal: Restructure undergraduate courses to integrate asynchronous learning network (ALN) methods 20 major projects in 1995, now > 80 projects 9 “efficiency” projects – designed to lower instructional costs per student

Introduction to SCALE & ALN SCALE replaced by UIUC funded: Center for Educational Technologies (CET) Lanny Arvan, Director UI-Online Led by Sylvia Manning (Chancellor) Introduction to SCALE & ALN What is ALN? In-class learning is “synchronous.” Contrast synchronous in-class learning with “Site independent learning” (distance education) –courses delivered largely or entirely online ALN Goals & Technologies Enhanced learning opportunities Interactive course materials, e.g., PCs & WWW Simulations, multimedia, visualization, e.g., streaming video, Java, Virtual reality (e.g., digital video cases – “WWHP A CD Case study” ( Real-time homework, quizzes & grade information, e.g., on-line, interactive testing, on-line grades

ALN Goals & Technologies Improve access to people & information Subject matter experts (faculty, TA’s) Other students (peer-peer & group interactions) E.g., Conferencing, email E.g., Course management software (i.e., CourseInfo, WebCT, Mallard).

ALN Example Applications Econ 300 (Intermediate Microecon) – Lanny Arvan SCALE efficiency project A required (disliked) course for all UIUC business majors ALN goals: More feedback & learning opportunities (Mallard on-line testing) Increase interactions (on-line) with faculty & peers (First Class) Disincentives for cram-for-test-&-nothing-else mentality (homework & quizzes count) ALN Example – Econ 300 First Class Menu Presentation Outline Thanks to …! Motivation Introduction to SCALE & ALN SCALE Research Design / Evaluation SCALE Results The Bottom Line: What creates successful ALN? SCALE Research Design / Evaluation Separate University-sponsored evaluation team & unit Research design: Case & field studies Even when available, ALN vs. nonALN control groups are problematic due to: Student self-selection into courses & programs Instructor self-selection into using technology Differing evaluative methods & processes (e.g., differing rules for on-line vs. traditional exams, quizzes) (I.e., mixing “media” & “method” – Clark) SCALE Research Design / Evaluation Most extensive evaluation is of 1st year classes (19 courses) An impression ? evaluation team sought evidence supporting increased efficiency & effectiveness (after spending $3M – what else could UIUC do?) SCALE Research Design / Evaluation Presentation Outline Thanks to …! Motivation Introduction to SCALE & ALN SCALE Research Design / Evaluation SCALE Results The Bottom Line: What creates successful ALN? SCALE Evaluation Results ALN... Increased communications Surveys: 51% of students reported an increase in communication with instructor & 43% with other students. 40% of students reported an increase in the quality of their interaction with the instructor. Improved access to information – "Information when you want/need it." "Personal control of information," "quick-response from peers & students."

SCALE Evaluation Results ALN... · Enhanced learning environment “A new and exciting way to learn," “More prepared for class," “Time to learn out of class," "work at own pace." "On-line homework was a great experience," “On-line quizzes were "a good way to study for exams." 70% would take another course using computer conferencing. 75% rated overall experience with computer conferencing good, very good, or excellent. 60% reported increase in learning due to computer conferencing. SCALE Evaluation Results ALN... Improved computing & technology knowledge "Increased my knowledge of and confidence with computers." “I’m less apprehensive about computers"

70% indicated increased familiarity with computers.

SCALE Evaluation Results Success of ALN depended on... Student training 75% found conferencing software easy or somewhat easy to use. Interviews: Many students wanted better training. E.g., "Require a mandatory class on system use." Student effort & commitment 60% used computer conferencing ? 1 time week. Females used conferencing slightly more than did males (not stat significant) “Class member comments helped me learn." SCALE Evaluation Results Success of ALN depended on... Incentives, I.e., what’s in it for the student? Students: "Must give incentives to use the software." “Don’t just tack ALN on to an existing course." Accessible computers Lack of computer access = most frequent complaint "It was hard to find an available computer." "The [modem] lines were always busy." "Get more computers or get rid of [ALN component]."

SCALE Evaluation Results Success of ALN depended on... System availability & support "I couldn't login, so I stopped using it." "Too many system crashes" SCALE Efficiency Project Results Did ALN improve course efficiency? From whose perspective? (instructor vs. university) Instructor time omitted as a cost … despite acknowledgement that “ALN teaching is arduous.” (instructor interview). Increased instructor-student contact time in ALN classes. Never for small or writing-intensive classes For each of the 3 examples that I use: No difference in exam performance for ALN vs. traditional sections

SCALE Efficiency Project Results Did ALN improve course efficiency? Introductory Statistics (100) Development cost funded by grant On-going cost of ALN initiatives = $1,000 peer tutor per semester ALN class sizes 50 to 100% larger than traditional sections (e.g., 154 vs. 101 students) SCALE Efficiency Project Results Did ALN improve course efficiency? Econ 300 Section sizes increased from 60 to 180 Development cost = ~ $56,224 Introductory Spanish (210) 1 time development cost = ~ $15,000 Class section sizes doubled with ALN (19 to 38) An ALN success story (LEEP) UIUC School of Library & Info. Science Online version of on-campus MS degree (not a SCALE project) – Library Education Experimental Program (LEEP) - accredited by the ALA Began with 31 students in Fall 1996 (including students in Alaska & Vermont) Currently 125 students enrolled (~ 1/2 in-state)

An ALN success story (LEEP) As of 1999, 96 students completed MS degree (from 37 states, rural Illinois, Virgin Islands, France, Colombia, Japan, & Thailand) All faculty teach ? 1 online course each academic year To serve demand for LEEP, GSLS College: added 4.5 FTE faculty budget has grown > $750,000 New building in progress!

SCALE Efficiency Project Results Do the SCALE results suggest that ALNs can improve access to higher education? Yes!!!! LEEP program & SCALE efficiency projects Presentation Outline Thanks to …! Motivation Introduction to SCALE & ALN SCALE Research Design / Evaluation Results The Bottom Line: What creates successful ALN? The Bottom Line: What makes for a successful ALN? Support from the top for technological innovation (e.g., LEEP) Incentives for participation among faculty & departments Pedagogically sound content Commitment to quality pedagogy & content Enthusiastic & committed faculty & support staff Are faculty early (15%), middle (70%), or late (15%) adopters? - Incentives differ by group Helpful: wired, computer literate students & faculty The Bottom Line: What makes for a successful ALN? Thoughtful consideration of copyright and ownership issues (faculty vs. University, publishers vs. University, faculty vs. students) Who owns what? Accessibility vs. ownership (see recent Chronicle of Education articles) Support & maintenance Development / programming Access to student computing is essential (& often problematic) Supported, mature products The Bottom Line: What makes for a successful ALN? Marketing to current & potential students, current & potential faculty, University administrators What’s in it for the students? faculty? administrators? What’s the goal? Improved class availability? Technology as content? Richer content?

References & resources Clark, Richard E., 1991, “When researchers swim upstream: reflections on an unpopular argument about learning from media,” Educational Technology (February), 34-40. Scale website: UI on-line:  Web-board tutorial: LEEP  program:  UIUC Center for Educational Technologies  (CET): Webboard:  WebCT: 

Dan Stone Email now:  Email ? 8/20:  WWW :  

"Finally, Business Talks the Same Language," by Stanley Zarowin and Wayne E. Harding, Journal of Accountancy, August 2000 --- 

You can read my threads on XBRL and XML at 

"Those Who Can... TEACH," by Michael J. Meyer and Pierre L. Titard, Journal of Accountancy, July 2000 --- 

From the Ivory Tower to the Bottom Line --- 

In the 1990s U.S. companies cut costs, jettisoned marginal efforts, bolstered internal cooperation and formed strategic alliances. Hold on to your hats—universities are set to do the same.

Inexorably, the need for new funding sources drove universities to industry. The bonds between the two had loosened in science’s golden age. But the new university need, coupled with corporations’ desire to offset their own slimmed-down research programs through better access to academic science, changed all that. Industry’s contributions to academe are approaching $2 billion a year—some 10 times 1979 rates. Meanwhile, a series of legislative changes encouraged universities to become patent and spinoff machines (see article: “The TR University Research Scorecard,” this issue).

But even these monetary measures and countermeasures could not stem the pressures on the “Harvard” model. No one understands this better than the veterans of the corporate wars. As former IBM vice president for science and technology John Armstrong noted in a 1996 talk, “There is no leading university of my acquaintance which does not have faculty deadwood, outdated programs and a few departments whose disappearance would raise the overall quality of the institution.” Although deadwood had been tolerated historically to protect campus stability, Armstrong argued that things would have to change “if the quality of good programs is not to be eroded because resources are being wasted on mediocre programs.” More than a few universities heard this message—or similar ones—and moved to create a leaner, meaner campus.

For a listing of Yahoo's top distance education websites, go to 

One of Yahoo's winners is The Journal of Library Services for Distance Education at 

Another Yahoo pick is the University of Idaho's Engineering Outreach program at 
This is a very important website for links to resources and advice to faculty and students.  For more on resources, go my Helpers for new faculty at 

Another one of the leading top Yahoo picks is UNext (see below).

UNext is best known for its prestige partnerings with Stanford University, Columbia University, Carnegie-Mellon University, the University of Chicago, and the London School of Economics.  The first major product of UNext is Cardean University.

The UNext website is at 

The Cardean University website is at 

Pensare is another corporation partnering with such prestige universities as Duke, Harvard, Penn (Wharton), and USC.  See 

Penn's Wharton School of Business has partnered with IBM --- 

University Access has changed its name to Quisic --- 

You can read more about these and other prestige partnerings at 

Among the leading distance learning servers, eCollege has one of the longest lists of colleges and universities.  See 

Perhaps the most popular course authoring software is Blackboard (which will also serve up your courses) --- 
My threads on Blackboard are at 


I just learned that Baruch College has made available the Emanuel Saxe lectures on a web site - going back to 1973. A brief look at the listing indicates that there are several that I may want to read (again) and possibly use for class discussion. You might want to refer to them in your Bookmarks. The reference is: 

I noticed that one of the lectures was by you - on April 1, 1982. The listing indicates that some pages are missing. You might want to supply those pages if you still have them (and want others to read them!).

Denny Beresford

The Conductive Education Chronicle (U.K.) --- 

For a review of other search engines, see 

Forwarded by Barry Rice

Dear Mr Rice

I am in charge of the table of contents email alerting system provided by Taylor & Francis. We publish over 500 academic peer-reviewed journals and the contents pages of over 450 of these are available electronically.

This FREE service provided by Taylor & Francis is called SARA - Scholarly Articles Research Alerting.

This is a special email service that has been designed to deliver tables of contents, for any Taylor & Francis, Carfax, Routledge, E&F N Spon, Martin Dunitz or Psychology Press journal, to anyone who has requested the information and I genuinely believe that it will be positively welcomed by your members.

Registering for the service is simple and once subscribed you will receive contents pages of your chosen journal(s) in advance of publication along with instructions on how to remove yourself from that particular list should you decide you no longer need to receive it.

With your permission, we would like to e-mail members of AECM to inform them of this free of charge service, along with instructions on how to register. If this is not possible, please could you email the information to your members? I have attached a copy of the email we would like to distribute for your perusal.

Many thanks and I look forward to hearing from you.


Sharron Lawrence Taylor & Francis Limited

Dear Colleague

Taylor & Francis currently publishes over 500 academic peer-reviewed journals across a variety of disciplines. In response to the changing needs of the academic community, we are using the Internet actively to disseminate information about journals in advance of publication.

SARA - Scholarly Articles Research Alerting, is a special email service designed to deliver tables of contents, for any Taylor & Francis, Carfax, Routledge, E&F N Spon, Martin Dunitz or Psychology Press journal, to anyone who has requested the information. This service is completely free of charge.

All you need to do is register, and you will be sent contents pages of the journal(s) of your choice from that point onwards, in advance of the printed edition. You can request contents pages either for any number of individual titles, or for one or more of our sub-categories or a main category, and you may unsubscribe at any time. For each of your choices, you will receive the relevant bibliographic information: journal title, volume/issue number and the ISSN. You will also receive full contents details, names of authors and the appropriate page numbers from the printed version.

This will give you advance notice of what is being published, making it easier for you to retrieve the exact information you require from the hard copy once it arrives in your library.

Titles that may be of interest are:

Accounting Education

To register for this complimentary service, please visit:  and click on the SARA button.

For further information on Accounting Education, please visit: 

If you have any questions regarding this service, please email: 

Napster's not just for sharing copyrighted music files. Everyone from scientists to computer virus gurus has come up with ways to use Napster-style technologies, but some worry that fallout from the Napster case will cut them off ---,1282,37874,00.html 

Macromedia announces the opening of Macromedia University (primarily for online training) --- 

Leaders in Web authoring software and education team to offer online instruction

San Francisco, California and Rochester, New York—August 1, 2000—Macromedia, Inc. (NASDAQ: MACR) and Element K, a leading provider of corporate e-learning solutions for business and technology skills, today announced the launch of Macromedia University ( This new site will serve as the premier online training source for mastering market-leading Macromedia products. With the launch of the new site, Macromedia now provides affordable, convenient, and effective online e-learning solutions targeted at professional developers of every skill level.

"Macromedia and Element K are leveraging the power of the Web to train customers how to better use their Macromedia products," said Tom Hale, senior vice president, product marketing at Macromedia. "These self-paced online courses will add value to existing users by showing them time-saving tips and tricks, and enable our new users to hit the ground running using the leading Web authoring products on the market."

The courses are offered and priced on an annual subscription basis across three libraries—Basic, Complete, and Web Professional. Each course is self-paced and includes 8-12 hours of instructional content created with Macromedia Director 8 Shockwave Studio and delivered with the Macromedia Shockwave Player. The Macromedia Basic library provides the foundation necessary for developers getting familiar with Macromedia Web authoring products. The Macromedia Complete library adds advanced level instruction, and the Macromedia Web Professional library offers an exhaustive range of courses on topics ranging from Java and Linux to HTML and database programming, as well as the Macromedia product courses at all skill levels.

In addition to self-paced and instructor-led libraries of courseware, Macromedia

Dr Jensen,

Please take a look at my site on credit derivatives, linked below. I will be obliged for any contributions you might have to make.

Thanks and regards Vinod Kothari

------------------------------------------------------------------------ Visit our websites: Web's best site on securitisation:  Very comprehensive site on leasing:  One of the very few sites on Credit Derivatives: Home of Asian Securitization Forum: 

For possible use on Bob Jensen's Bookmarks, may I suggest the WWW Virtual Library: International Affairs Resources, now with over 2000 carefully selected, annotated links in 37 international affairs categories. It is frequently maintained, and should be of use to travelers, journalists, researchers, businesspersons, teachers, professors, and students, among others. It has received recommendations from several Internet academic organizations, including CHOICE Magazine, BUBL LINK, Internet Scout, and the Argus Clearinghouse.

The address of the site is: <>. 

Please announce its availability to your associates who may be interested. We would appreciate a link from your website, if appropriate.

Thank you. Wayne Selcher

Professor Wayne A. Selcher Department of Political Science Nicarry Hall Elizabethtown College One Alpha Drive Elizabethtown, Pennsylvania 17022-2298 U.S.A. Phone: 1-717-361-1305 Fax: 1-717-361-1487 E-mail: 

More on this FAS 138 issue can be found at 

YES you can post my message as follows:

We were hoping in the industry that the question addressing both "Back to Back" contracts and "Bookouts arrangements" will be addressed under 138 and the industry practice be recognized as NPNS (normal purchase normal sales). However, it appears that such contractual arrangement go against one of the key cornerstone concepts of the 133 pronouncement, that recognizes the derivatives as rights and obligation that meet the definition of assets and liabilities. In case of net settlement process in the bookouts and Back to back contracts, the original rights and obligations of multiple counterparties within the loop remain in tact. They are merely offsetting not actually eliminating or relieving the originating counterparty of its asset or liability. Thus DIG clearly came out and has explicitly stated for the BOOKOUTS to be excluded from NPNS scope.

However the attempt to expand the scope of the 10-b provision to include certain contracts affected by 9-a and 9-c net settlement requirements has failed to make a clear determination for NPNS (normal purchase normal sales). In the sense they have failed to address the contracts that fall under 9-c (large amount of power generators and commodity producers have contracts that fall into that category. One thing that is interesting is the expansion of the scope by including the word "probable" in its language of defining the intent of the parties not to Net settle, even though the 9a, 9b criteria of Net settlement is being met. The recent meeting by EITF on Energy related contracts could have provided more guidance on some of these issues, but I am not aware of any major "breakthroughs".

Secondly, an issue might be a major one for the commodity industry to consider, in view of the scrutiny that will follow the 133 implementation process starting next year. That is the issue of disclosure of hidden physical optionality embedded in the commodity contracts. Having been exposed to the trading market place as a Risk manager, I see a very big chunk of hidden "embedded optionality" sitting on the books of major Gas and power companies. Take or pay contracts, Requirements contracts, Swing contracts, Keep Whole Arrangements etc. Historically companies with less sophistication and resources have always looked at them as NPNS, and primarily hedged them without hedging the optionality component (OC). Since the contracts were on the books without OC, the hedge was also a straight swap or a forward based on the face value of the hedged item, and hence no apparent discrepancies. Would that be a disclosable item effective Jan 2000? Would the non disclosure of the embedded optionality be OK, as it could qualify for "clearly and closely related" definition? If the answer is yes, then it can lead to a further question of what will be the structure of the derivative that will be required to hedge it, leading to a whole new valuation scope. Might create scope for more OTC structuring. Thus IF there is ANY optionality language in a GAS or OIL or POWER purchase or sales contracts, SFAS 133 implementation can force the industry to PRICE it.

Sajjad Rizvi Energy/Financial Risk Consulting 

Center for Financial Research & Analysis, Inc.

CFRA, Inc. Launches Free On-Line Service for Academic Community

Rockville, MD - August 1 - The Center for Financial Research & Analysis (CFRA, Inc.), a leading provider of independent research to over 2,000 institutional investors, will now offer an academic version of its product to professors and their students. Since there is no cost for this service, its use is restricted for research and teaching purposes.

What's included with the Academic Version?

1. Access to all educational pieces in our database. 2. Access to selected company-specific reports that focus on quality of earnings issues 3. Weekly e-mail notification of new companies added to the database

Who qualifies for this service and how can you sign up?

All professors teaching courses in financial accounting, auditing, and finance qualify. To sign up, click on the URL  and register. Then sign and fax the agreement to (301) 984 8617. Once activated, you will have access to the Academic Version of CFRA's database.

About CFRA

CFRA has become known internationally for its pioneering research ferreting out companies with operational problems that use unusual accounting practices to camouflage such practices. Founded in 1994 by Dr. Howard M. Schilit following a 20 year career as an accounting professor (author of FINANCIAL SHENANIGANS: How to Detect Accounting Gimmicks and Fraud in Financial Reports)  CFRA provides a daily on-line news wire of financial analysis and a database on over 900 companies. Its mission is to warn investors and creditors about companies experiencing operational problems and particularly those that employ unusual or aggressive accounting practices to camouflage such problems.

Howard Schilit  
301-984-1001 ext. 105

The Symphony: An Interactive Guide (music) --- 

Wayne Bremser has a helpful page for accounting educators and travelers to Philadelphia and elsewhere--- 

His site includes a link to "For Chicks Only" --- 

Issue 38 of FEI Express -- 

You will find a link to an Adobe download on Auditor Independence

Good afternoon. My name is Joe Berardino, Arthur Andersen's Managing Partner for Assurance and Business Advisory Services for North America. 

Let me begin by expressing Arthur Andersen’s support for modernizing the financial interest and family relationship rules. We have not had time to study the details, but it is clear that this modernization is long overdue, and we hope the Commission will reconsider its approach of combining consideration of these rules, around which there is wide consensus, with those pertaining to scope of practice, which, of course, are highly controversial. We also suggest reconciling these proposals with those developed by the ISB. 

With respect to scope of practice, we fear that the Commission’s proposal has dramatic and far-reaching implications, with great likelihood for negative and unintended consequences. We believe that the accounting profession should be allowed to evolve to meet investor and client needs in the New Economy (with audit committee oversight), and we do not believe that this regulatory intervention will enable us to adequately serve the information needs of investors and help companies address their business risks. 

Rather than focusing attention on a real investor need – the development of a new measurement and reporting framework to address the growing inadequacy of a centuries-old model – and working cooperatively with Congress as it exercises its central policymaking role in this area, the scope of practice proposal diverts key resources and constitutes a solution in search of problem.

You will also find an Adobe download of "Audit Committees Under Fire"

BERNARD CONDON: Welcome gentlemen and ladies to the FORBES “Audit Committee Under Fire”. My name is Bernard Condon. I'm a writer at “FORBES Magazine.”

When Arthur Andersen spawned Andersen Consulting, did they realize someday they would end up in a courtroom face off, fighting over clients, services, intra-company fees, and more?

Over fifty companies strong, the XBRL Committee, which will redefine the future of financial reporting, has released a specification that will enable companies to incorporate the benefits of XBRL into the financial reporting process.

Lycos free foreign language translations online 

Lycos small business helpers --- 

What accounting software is being used by small businesses?  See "Inventory Of Online Accounting Efforts Reveals Slow Migration," by Kevin Ferguson, Forbes, August 4, 2000 --- 

To be fair, most of the 20 million or so U.S. small businesses probably haven't even heard of online accounting. The services are only months old. Given the chance, small businesses--particularly those whose key employees travel often or are scattered geographically--might like the idea of paying a monthly fee to access payroll, sales and other financial information over the Web.

But small businesses are fiercely protective of their financial data. The thought of entrusting that information to anyone other than their accountants sends shivers up the spines of most business owners. It doesn't matter that most of them already use some form of online banking, including ATMs. Convincing them to use any of several new online accounting services won't be easy.

Open Systems accounting software --- 

It was good to hear  from Brian about ACCPAC accounting software --- 

Readers may be interested to know that ACCPAC International has recently decided to make their Simply Accounting program available at some sort of bargain price so as to attract a market in education/training.

Here in Canada, Simply has a large market share, because they have been paying attention to educators for years. It seems that the same thing may be happening in the USA.

There are several worthy books available in Canada on using Simply. I am not sure what the story is in the US. I do know that at least one author is considering whether to americanize his Simply text if there is a market south of the border.

The same comment holds for a text on ACCPAC for Windows for any school interested in a serious, higher end accounting software package.

If you need details, please contact me.


Brian Zwicker 
Grant MacEwan College Edmonton 780 497 5223 College 780 469 1976 Home

Mike Block has some free helpers for QuickBooks --- 

Quickbooks is becoming very difficult to work with. I am using Peachtree and getting a higher positive response.
Fisher, Paul [PFisher@ROGUE.CC.OR.US

Resources for Accountants and Auditors

Training module in Managing Financial Information and online information about financial records are now available.

The International Records Management Trust has been conducting research into the relationship between financial records and accountability.

What is the quality required by government accounting systems to strengthen public sector financial management? What are best practice requirements for managing accounting records and how is accounting information managed to endure that it is readily accessible and meets legal and audit requirements?

Information about the research of the Trust into these areas can be found on the Trust’s website:

From Accounting to Accountability: Managing Accounting Records as a Strategic Resource (World Bank infoDev project) 

Rent (without due dates) movies and other DVDs at 

The latest release of MSXML3, the company's XML parser, offers VB access to API and better conformity to XML standards ---

From the Wall Street Journal

TOPICS: Accounting changes, film accounting (Financial Accounting)

Several movie studios will soon take huge charges to earnings to recognize an accounting change for films. The new accounting rule requires movie and television companies to record marketing costs in the period they are incurred instead of over the film's life.

DISCUSSION QUESTIONS: 1. What is the expected effect of the accounting change on the earnings of Viacom and Sony? How would these charges be classified, and where would they be reported on the income statement?

2. Read the FASB's news release for the new accounting standard (Statement 139): (  ). What is the effective date of the new standard? Which companies does it affect? Why did the FASB feel a new rule was needed?

3. Statement 139 refers to a Statement of Position developed by the AICPA. Read the CPA Letter July/August 2000 announcement of Statement of Position 00-2: ( ). What kinds of film products are covered by the new standard?

4. How has the new rule affected film accounting? In your opinion, does the new rule improve the matching of costs to revenues? Why or why not? How do you think movie companies previously accounted for these costs?

Pham, Andie [


As you know, there has been an awful lot written recently about the declining enrollments in accounting programs and other aspects of our supposedly dying profession. Last night I happened to read a short speech given by Nick Moore, CEO of PricewaterhouseCoopers to the spring 2000 graduates of USC's accounting school. It is a very positive message and you may want to look at it and refer others to it as part of one of your Bookmarks. The reference is: 

Denny Beresford

Richard Campbell does demos

See the following link to a Camtasia online demo It's number 3 on the following page. 

For those of you who have emailed me recently about my presentation in Philadelphia - here is a PowerPoint presentation on my site. I believe you need the PowerPoint 2000 ActiveX control to view it. I do sense the irony here - I wanted to stream this presentation via RealAudio, but RealPresenter (PowerPoint audio plugin) presented me with a bug that I'll try to resolve tomorrow.


Additionally here is a 3d promo for CPE #19. This requires the free RealPlayer at,000728rpchoice_h1&dc=731730729  The RealPeople are making the FREE realPlayer really, hard to find on their site.


Richard J. Campbell [campbell@RIO.EDU

A new vulnerability uncovered in Lotus' Domino platform could allow a hacker to gain control of a remote computer running Notes client software --- 

The Internet is mattering more and more, while the Web matters less and less -- but perhaps that was inevitable, says Eric Lundquist --- 

Love and kisses from a former accounting major at Trinity University (now into website marketing)

A man from Canada emailed us this weekend asking us to link to his site from our He had created a little website about proposing to his girlfriend.. and he wants as many people to visit the site as possible before she finds the website or hears about it.

WELL, after we read his story (this guy actually IS romantic)... your favorite promotional wizards said "hmmmm... tell ya what buckaroo.. ya wanna be famous? we'll quickly dust off one of our prized domain names from the vault ( and make you super famous." So Clark created a splashy front page, and we set him up so he could upload his website to our servers. all we said was he had to put our lil grahic at the bottom of his site that says "sponsored by"

Anyway, BRIDE magazine has already setup an interview, a radio station has talked about it, and tomorrow he is being interviewed by his local newspaper (London, ontario i think)

Once we email the 115,000 users on our newsletter who knows what kind of attention this will stir up :-)

Cross your fingers, just don't laugh at his mullet...

<A HREF=""></a> 

-- Marshall

- Hays Internet Marketing, Inc. - ph: 214-521-3700 
-  - 
-  -  
-  -  

Forwarded by Ronnie Swanner

-----Original Message----- From: Jafari, Ali [mailto:jafari@IUPUI.EDU]  Sent: Friday, July 28, 2000 12:53 PM To: DEMM-L@LISTSERV.KSU.EDU  Subject: Research Fellow and Free e-Learning Portal software

Colleagues, For those of you interested to run your own course management software on your desktop or your school server, visit the CyberLearning Labs for FREE downloads of Angel course management and portal software. It is totally free for k-12 and higher education institutions in US. Also, visit the following link if you are interested to become a "Research Fellow" in the CyberLearning Labs.

For the CyberLearning Labs: <

For FREE downloads: <

For Research Fellow Application: <

Ali Jafari, Ph.D. Director of CyberLab Associate Professor of Computer Technology School of Engineering and Technology Indiana University Purdue University Indianapolis, IUPUI Indianapolis, IN 46202, USA


OfficeCam: Email:  Phone: 317-274-4565 Fax: 317-278-3602

### News Release: Indiana University Group Releases Free Portal and Course Management Software

For More Information Contact: Doug Wilson, 812.331.7500, ext. 684

INDIANAPOLIS - The Indiana University Advanced Research and Technology Institute (ARTI) announced today the formation of its latest technology venture, CyberLearning Labs, Inc. CyberLearning Labs, Inc. is launching Angel software, a landmark educational software that will revolutionize online learning. Angel (A New Global Environment for Learning) is free to educational institutions nationwide.

"We are marking a watershed day for ARTI in releasing this innovative teaching and learning software," stated Ronald Henriksen, president of ARTI. "When IU President Myles Brand established ARTI in 1996, his goal was to transfer great ideas from highly skilled IU faculty inventors to the marketplace - this new company and product proves the process works," Henriksen said.

CyberLearning Labs's Angel software is free to all K-12 and higher educational institutions in the United States. These institutions can use Angel in whatever capacity works best for them. The free Angel 2000 offer includes a portal (a Web page feature that links to an institution's existing databases as well as to Web resources), comprehensive course management tools, a calendar and other e-Learning tools. The free license permits the development creation of an unlimited number of courses, users, and user accounts. Software with similar tools usually commonly costs institutions hundreds of thousands of dollars in licensing fees and integration costs, and usually lacks the capability and flexibility of Angel. In addition to the free offer, CyberLearning Labs is also offering educational institutions installation, customization and maintenance of the Angel software at a nominal charge rates.

According to Professor Ali Jafari, co-founder and president of CyberLearning Labs, Inc., Angel will be useful for all grade levels. "For instance," Jafari said, "in the K-12 system, Angel will not only facilitate communication between students and teachers, but will also provide an easier way for parents to find out exactly how their child is doing, what assignments are coming up, and have direct communication with teachers via the Internet. Progress reports and disciplinary issues can be discussed confidentially as well."

Angel software includes a comprehensive course management tool that can be used to offer distance learning courses or to create complementary course sites for some or all of the traditional courses offered in a university or K-12 classroom environment. Angel uses intelligent agents to create a "smart," dynamic environment which that uses individual preferences to provide personalized information and resources to individuals based on their roles within the educational institution. Using Angel, an educational institution can create a comprehensive, customizable, dynamic portal for a department, campus or entire institution.

Business, industry and governmental institutions will also find Angel software valuable in creating portals for training and distance education. Angel software is not free for use in corporate training and commercial applications. Jafari anticipates substantial income will be derived from Angel software sales and technical consulting to these market sectors.

Ali Jafari, Ph.D. Director of CyberLab Associate Professor of Computer Technology School of Engineering and Technology Indiana University Purdue University Indianapolis, IUPUI Indianapolis, IN 46202, USA


OfficeCam:  Email:  Phone: 317-274-4565 Fax: 317-278-3602

Microsoft cookie tool stirs controversy

What began as an effort to give Web users more control over their privacy has raised the ire of Web advertisers and privacy advocates. - search through an archive of articles from over 300 magazines and journals -- 

University Press of America --- 

Making the Macintosh (History, Computers, Apple) --- 

Mulling whether to outsource your enterprise applications? Sign up for a free weekly email full of news, features, downloads and reviews of application service providers (ASPs). --- 

Blundering banks, like those tattled on by Katt tipsters, might be the only thing that could make matters worse for Napster founder Shawn Fanning --- 

These top-rated backup and restore utilities make data protection a snap. (computers, software) Download one before you need it. 

National Mental Health Awareness Campaign --- 

The mission of the Horizon Web site (  ) is to provide a forum that (1) explores the implications of a rapidly changing world on educational organizations and processes, and (2) examines ways in which we can make educational organizations and programs more effective. The purpose of this announcement is to inform you of the resources that we have accumulated as a free service to the educational community, K-Grey, worldwide. Our copyright statement at the bottom of each page allows you to distribute this material freely for educational purposes unless otherwise noted (e.g., materials that are reproduced on the Horizon site with permission of publishers).

One of the major challenges facing educators is how to use information technology tools to enhance teaching, learning, and administration. The Technology Source, a bimonthly refereed webzine, addresses this challenge through its vision, case study, commentary, faculty and staff development, critical readings, tools, virtual university, spotlight site and assessment sections.

Our Educational On-Ramp section links to information databases that provide social, technological, economic, environmental, and political data in addition to informed discussions on the future of education. If you know of a Web site or manuscript available on the Internet that we should link to, please complete our form at 

Our projects section focuses on the challenges of implementing distance learning programs, intellectual property and copyright issues, Web-based instructional resources, and major issues facing public education. It also includes articles in a CD originally published by Microsoft (now out-of-print but available for distribution in this section) entitled "Technology Tools for Today's Campuses" and articles in an issue of the High School Journal focusing on the future of secondary education (read only as the issue is copyrighted by UNC Press). We invite you to contribute manuscripts or links to URLs that addresses these topics.

Please consider linking to the Horizon site on your organization’s home page. Also consider forwarding this announcement to colleagues who could benefit by this resource.

Finally, we gratefully acknowledge support from SCT, Compaq, and SmartForce for helping us provide these resources to the educational community. If you have suggestions for how we can make the site more useful, please send me a note.

Many thanks.

Jim -- James L. Morrison  Professor of Educational Leadership CB3500 Peabody Hall Editor, The Technology Source UNC-Chapel Hill  Chapel Hill, NC 27599 Phone: 919 962-2517 Fax: 919 962-1693

Electronic Commerce Resource Center (e-Commerce, e-Business) 

Digital Commerce Center 

"Special report: To b-to-b, or not to b-to-b?" -- _UpsideToday_ 

FAQs for science buffs --- New Scientist: The Last Word 

Hot links from The Net Now (from the U.K.) --- 

The BBC says it all ends here --- The Extinction Files --- 

Extinction is, quite literally, the end of a particular evolutionary line, the end of a species, a family, or a larger group of organisms. While it may be bad news for the victims, it's a 'natural' event in the history of life on earth. Extinctions, mostly at the level of species, have been occurring constantly at a low 'background rate', usually matched by the rate at which new species appear - with the result that biodiversity is constantly increasing. But there have been periods in the Earth's history when biodiversity crashes. Indeed this has been a powerful force in evolution, wiping the slate clean of up to 96% of all species, and providing the survivors with a world full of opportunities into which they can diversify. these are the mass extinctions, when more than 50% of the Earth's species vanish in the geological instant of a few million years.

Julia Child invites cooks into her kitchen --- 

Ecomp Executive Compensation Database 

Work of Women --- 

Brett Arquette finds it hard to believe in this day and age that we are still using tape as our primary archive device. --- 

Pin Ups of the 1940's and 1950's (history, photography) 
Recall your old fantasies here!

The Art of the Illustrated Letter (a Smithsonian art exhibition)

Neil Hannon provides us with updates on XBRL (and XML)
The August 6th edition of the Internet Essentials 2000 Newsletter --- 

1. XBRL Takes Center Stage 
2. More XBRL Resources 
3. XML NEWS! Live Feed for all News about XML 
4. Online Accounting: Let an Application Service Provider (ASP) do your Books? 
5. AICPA's Annual List of Top Ten Technology issues 
6. The Seven Deadly E-mail Thoughts 7. Auditor Independence: Two Different Viewpoints

July 30th edition of the Internet Essentials 2000 Newsletter 

1. Happy99 Virus Ate My Saturday! 
2. Napster's Alive, Napster's Alive 
3. Peer-to-Peer Computing...Tracking Viruses and Genes 
4. Employment Alert:  Getting Fired Over Sending,Storing E-mail 
5. Travel Tracking.. Watch the Plane in Real-time 
6. ML Style Sheets Tutorial.. By G.E. Global eXchange Services

Pro2Net Accounting Students Newsletter  August 2, 2000

1. Travel Plans for the CPA Exam 
2. How to Simplify Your Job Search 
3. Using Summer to Prepare for Your Fall Job Search 
4. Message Boards: Get Involved, Help Your Peers

PRO2NET ACCOUNTING WEEKLY UPDATE For the Week of July 31, 2000 --- 

1. The Week's Top Accounting News 
2. Try CCH TaxEssentials for 15 Days - Free 
3. Feature Solutions Articles in Brief 
4. Win an Online CPA Exam Review Course from Bisk-Totaltape 
5. Opinion: Rick Telberg's Insider 
6. Pro2Net Tip of the Week: Generally accepted accounting principles for nongovernment entities

AccountingWeb on August 4, 2000 --- 

1. Andersen Consulting: A Frankenstein Monster? 
2. XBRL Committee Releases Specs, Adds Members 
3. Internet Tip: Find Home Prices 
4. Have You Implemented SysTrust With Your Clients? 
5. 10 Steps Toward Protecting Your Privacy on the Internet 
6. Senators Urge 'Caution' in Letter to SEC Chairman 
7. Excel Tip: Manipulating 3-D Spreadsheets 
8. IRS Employees Caught Taking Bribes 
9. PwC Chief Faces Possible Probe over Audit Violations 
10. An Easy Way for College Students to Use Credit Cards






A couple drove several miles down a country road, not saying a word. An earlier discussion had led to an argument, and neither wanted to concede their position. As they passed a barnyard of mules and pigs, the husband sarcastically asked, "Relatives of yours?" 

"Yep," the wife replied, "In-laws."

Occasionally, airline attendants make an effort to make the "in-   flight safety lecture" and their other announcements a bit more   entertaining. Here are some real examples that have been heard or   reported:    

1. From a Southwest Airlines employee: "There may be 50 ways to leave   your lover, but there are only 4 ways out of this airplane."    

2. Pilot: "Folks, we have reached our cruising altitude now, so I am   going to switch the seat belt sign off. Feel free to move about as   you wish, but please stay inside the plane till we land. It's a bit   cold outside, and if you walk on the wings it affects the flight   pattern."    

3. After landing: "Thank you for flying Delta Business Express. We   hope you enjoyed giving us the business as much as we enjoyed taking   you for a ride."    

4. As the plane landed and was coming to a stop at Washington   National, a lone voice came over the loudspeaker: "Whoa, big fella.   Whoa!"    

5. After a particularly rough landing during thunderstorms in   Memphis, a flight attendant on a Northwest flight announced: "Please   take care when opening the overhead compartments because, after a   landing like that, sure as hell everything has shifted."    

6. From a Southwest Airlines employee: "Welcome aboard Southwest   Flight XXX to YYY. To operate your seatbelt, insert the metal tab   into the buckle, and pull tight. It works just like every other   seatbelt and if you don't know how to operate one, you probably   shouldn't be out in public unsupervised. In the event of a sudden   loss of cabin pressure, oxygen masks will descend from the ceiling.   Stop screaming, grab the mask, and pull it over your face. If you   have a small child traveling with you, secure your mask before   assisting with theirs. If you are traveling with two small children,   decide now which one you love more."    

7. "Weather at our destination is 50 degrees with some broken clouds,   but they'll try to have them fixed before we arrive. Thank you, and   remember, nobody loves you or your money more than Southwest   Airlines."    

8. "Your seat cushions can be used for flotation. In the event of an   emergency water landing, please take them with our compliments."    

9. "As you exit the plane, please make sure to gather all of your   belongings. Anything left behind will be distributed evenly among the   flight attendants. Please do not leave children or spouses."    

0. "Last one off the plane must clean it."    

11. From the pilot during his welcome message: "We are pleased to   have some of the best flight attendants in the industry.   Unfortunately none of them are on this flight."    

12. This was overheard on an American Airlines flight into Amarillo,   Texas, on a particularly windy and bumpy day. During the final   approach, the captain was really having to fight it. After an   extremely hard landing, the flight attendant came on the PA and   announced, "Ladies and gentlemen, welcome to Amarillo. Please remain   in your seats with your seatbelts fastened while the captain taxis   what's left of our airplane to the gate!"    

13. Another flight attendant's comment on a less than perfect   landing: "We ask you to please remain seated as Captain Kangaroo   bounces us to the terminal."    

14. An airline pilot wrote that on this particular flight he had   hammered his ship into the runway really hard. The airline had a   policy which required the first officer to stand at the door while   the passengers exited, smile, and give them a, "Thanks for flying XYZ   airline." He said that in light of his bad landing, he had a hard   time looking the passengers in the eye, thinking that someone would   have a smart comment. Finally, everyone had gotten off except for   this little old lady walking with a cane. She said, "Sonny, did we   land or were we shot down?"    

15. After a real crusher of a landing in Phoenix, the flight   attendant got on the PA and said, "Ladies and gentlemen, please   remain in your seats until Captain Crash and the crew have brought   the aircraft to a screeching halt up against the gate. And, once the   tire smoke has cleared and the warning bells are silenced, we'll open   the door and you can pick your way through the wreckage to the   terminal."     16. Part of a flight attendant's arrival announcement: "We'd like to   thank you folks for flying with us today. And, the next time you get   the insane urge to go blasting through the skies in a pressurized   metal tube, we hope you'll think of us here at American Airlines.

Forwarded by Dick Haar:

[1] How do you catch a unique rabbit? Unique up on it. 
[2] How do you catch a tame rabbit? Tame way, unique up on it. 
[3] How do crazy people go through the forest? They take the psycho path. 
[4] How do you get holy water? You boil the hell out of it. 
[5] What do fish say when they hit a concrete wall? Dam! 
[6] What do Eskimos get from sitting on the ice too long? Polaroid's 
[7] What do you call a boomerang that doesn't work? A stick. 
[8] What do you call cheese that isn't yours? Nacho cheese. 
[9] What do you call Santa's helpers? Subordinate clauses. 
[10] What do you call four bullfighters in quicksand? Quattro sinko. 
[11] What do you get from a pampered cow? Spoiled milk. 
[12] What do you get when you cross a snowman with a vampire? Frostbite. 
[13] What lies at the bottom of the ocean and twitches? A nervous wreck. 
[14] What's the difference between roast beef and pea soup? Anyone can roast beef. 
[15] Where do you find a dog with no legs? Right where you left him. 
[16] Why do gorillas have big nostrils? Because they have big fingers. 
[17] Why don't blind people like to sky dive? Because it scares the heck out of the dog.
[18] What kind of coffee was served on the Titanic? Sanka 
[19] What is the difference between a Harley and a Hoover? The location of the dirt bag. 
[20] Why does a pilgrim's pants always fall down? Because they wear their belt buckle on their hat. 
[21] What's the difference between a bad golfer and a bad skydiver? A bad golfer goes whack, damn. A bad skydiver goes damn, whack. 
[22] What do you call skydiving lawyers? Skeet. 
[23] How are a Texas tornado and a Tennessee divorcee the same? Somebody's gonna lose a trailer

A man walked into a bar with his alligator and asked the bartender, "Do you serve lawyers here?"
"Sure do," replied the bartender.
"Good," said the man. "Give me a beer, and I'll have a lawyer for my gator."

Forwarded by Dick Wolff

From nowhere a Cowboy came over and set his fiddle case down next to her. The nun picked up the fiddle and started playing beautiful music.

Startled, she looked back at the machine and said, "This is incredible. I've got to try it again."

Back to the machine. She put her nickel in and another card came out.

It said, "You're a nun, you weigh 128lbs, you're going to Chicago, Illinois and you're going to break wind."

Now, the nun knows the machine is wrong; "I've never broken wind in public in my whole life!" Well, she tripped, fell off the scales and broke wind.

Stunned, she sat back down and looked at the machine. She said to herself, "This is truly unbelievable! I've got to try it again."

She went back to the machine, put her nickel in and collected the card.........

(Are you ready for this?)

(Are you sure?)

It Said   "You're a nun, you weigh 128lbs, you have fiddled and farted around and missed your flight to Chicago!!!!!!"

Forwarded by Michelle B.

My Mother Taught Me

Trust in these treasures, we've all heard them in the in our Mother's own voices.

My mother taught me TO APPRECIATE A JOB WELL DONE - "If you're going to kill each other, do it outside - I just finished cleaning!"

My mother taught me RELIGION - "You better pray that this stain comes out of the carpet."

My mother taught me about TIME TRAVEL: "If you don't straighten up, I'm going to knock you into the middle of next week!"

My mother taught me LOGIC: "Because I said so, that's why."

My mother taught me FORESIGHT - "Make sure you wear clean underwear, in case you're in an accident."

My mother taught me IRONY - "Keep laughing and I'll *give* you something to cry about."

My mother taught me about the science of OSMOSIS - "Shut your mouth and eat your supper!"

My mother taught me about CONTORTIONISM -"Will you *look* at the dirt on the back of your neck!"

My mother taught me about STAMINA - "You'll sit there 'til all that spinach is finished."

My mother taught me about WEATHER - "It looks as if a tornado swept through your room."

My mother taught me how to solve PHYSICS PROBLEMS - "If I yelled because I saw a meteor coming toward you; would you listen then?"

My mother taught me about HYPOCRISY - "If I've told you once, I've told you a million times - Don't exaggerate!!!"

My mother taught me THE CIRCLE OF LIFE -"I brought you into this world, and I can take you out."

My mother taught me about BEHAVIOR MODIFICATION - "Stop acting like your father!"

My mother taught me about ENVY - "There are millions of less fortunate children in this world who don't have wonderful parents like you do!"


If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on August 9, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


July 26, 2000

Bob Jensen's New Bookmarks on July 26, 2000
Bob Jensen at Trinity University

You can change the viewing size of fonts by clicking on the View menu item in your browser. 

Scroll down this page to view this week's new bookmarks. 

For earlier editions of New Bookmarks, go to 

I maintain threads on various topics at 

Click here to search Bob Jensen's web site if you have key words to enter --- Search Site.
This search engine may get you some hits from other professors at Trinity University included with Bob Jensen's documents, but this may be to your benefit.

Whenever a commercial product or service is mentioned anywhere in Bob Jensen's website, there is no advertising fee or other remuneration to Bob Jensen.  This website is intended to be a public service.  I am grateful to Trinity University for serving up my ramblings.

If you are attending the American Accounting Association annual meetings in Philadelphia, the deadline is almost here for signing up for the all-day pre-convention education technology workshop that I organized for August 12 (Saturday):  "Innovative Learning Programs for Accounting and Business:  the Ivy League Goes Online, the Sloan Foundation Experiments in Asynchronous Learning, and Experiments in Self-Learning at Major Universities Using the BAM Pedagogy," with Anthony Catanach, Chuck Hickman, Bob Jensen, Michael Kirschenheiter, and Dan Stone, Continuing Education Program Workshop at the Annual Meetings of the American Accounting Association, Philadelphia, August 12, 2000.  This is an all-day workshop on August 12 

Quotes of the Week:  

"With government, there is no competition so the "price" (tax revenue) is based on what the populace will pay without a decrease in the activity that produces the tax revenue to the point where total revenue is reduced."  Actually, because of the second part of this sentence, government is getting to be increasingly competitive. With globalization, more and more activities are becoming essentially transferable and we are seeing more and more national and local governments getting on the competitive wagon.
Pedro Kolari 

Do not follow where the path may lead. 
Go instead where there is no path and leave a trail.

On the bottom of email messages from Tony Catanach

Frogs have it easy;
They can eat what bugs them.

"Very funny Scottie.  Now beam down my clothes."

I don't suffer from insanity.  I'm enjoying every minute.

Better to understand a little than to misunderstand a lot.  (Advice not well heeded by Bob Jensen)

Only a fool tests water with both feet.  (More advice not well heeded by Bob Jensen)

Admit your errors before someone else exaggerates them.

Few women admit their ages.  Few men act theirs.

Nothing will happen to me today that the Lord and I can't handle.

Management, like trees, shows signs of dying at the top before symptoms appear lower down.

A dog wags its tail with its heart.

I'm too busy, even for me!

Releases of New Bookmarks will be more sporadic this fall.  Also, I am not being rude if I do not answer email messages as quickly as normal (messages are now running over 50 per day, with an average of 10 messages daily asking technical crisis questions about FAS 133/138 on derivative instruments accounting and hedging.)  My problem is not the normal crunch of preparing for classes, teaching classes, and finishing several papers in process.  Part of the problem is that I agreed to do too many workshops and presentations.  Beginning tomorrow, my travels take me to Iowa, Philadelphia, Bermuda, Philadelphia again, Fredericksburg, Chicago, NYC, Taipei, Las Vegas, and Iowa again all before XMAS.  

My main problem is that my wife is in Germany for at least six weeks helping her elderly and very ill Tante Pepe.  I have a difficult time managing myself without Erika.  Her biggest fear was when she handed me the checkbook at the airport.  I've not been allowed to touch our checkbook in over 10 years.  I lost control of the checkbook when I spent over $5,000 in a computer store on my way home from Dallas in 1990.  When Erika took a closer look, she discovered that I had not reconciled the checkbook with our bank since 1984.  I admit that I am a CPA.  However, the reason that I made a career change into academe is to avoid doing things in the real world.  When I enter the real world, I have less time for New Bookmarks, email, and even research.

Then there are those of you that will enjoy relief from many (not all) messages from Bob Jensen. I will quietly tip toe my way to the airport and hope that you will ask me fewer questions for the next several months.

Where can I borrow a can opener?

I have started to thread documents about costs of developing online courses and education programs.  This paper includes issues of faculty compensation and ownership of content (intellectual property, copyrights)  ---

Please contact me if you have other recommended links.  My email address is 

Edge: Third Culture --- 

Most any professor will find fascinating documents at this website.

Don't miss the interesting article by V.S. Ramachandran's "Mirror Neurons And Imitation Learning As The Driving Force Behind 'The Great Leap Forward' In Human Evolution," (technology in education resources, distance learning) --- 

Academic Areas
Elementary School
High School
Credit Alternative
Discussion and New
Educational MOOs
Faculty Resources
Financial Aid
Intellectual Right
Student Resources

Need I say more about this resource site?  I might add that I added a great history of distance education link to some of my documents.  That link is 

For more on history of distance education, see 

Featured Website of the Week

AskEric (It is easy to forget what wonderful links and databases are available at Eric) --- 
This is a Federally funded resource center for education.

Hot topics include the following:

My off-the-wall answers to a reporter this week:


These are off the wall, because I am in a hurry to get out of town.

Why are e-commerce courses so hot right now?

Student career opportunities, paradigm shift in commerce, industry pressure on academe, and ???

How is the university system responding to the needs of business?

It has been the first time in history that business schools have responded so dramatically in program revisions and course revisions. As an illustration, see the tremendous impact e-Commerce is having on our main accrediting agency (the AACSB) at 

In particular note the very important website at 

What were the challenges/obstacles in setting up an e-commerce/business course at your university?

Faculty do not respond quickly to change. In the military, your superior officer says jump and you jump! In industry your boss says jump and you ask "How high?" In academe, your Dean says jump and it is pretty easy (with tenure and low incentive pay schemes) to ignore the command unless it is somehow in your best interest to jump as requested. One of the problems is that faculty have specialized skills that took years to develop and 50 hours per week to maintain. Adding new skills and maintenance is a terrific burden not taken seriously on every new thing that we would like to learn about.

How will students benefit?

They're the ones who are demanding change in curricula. It gives them a jump start in careers.

Why is it important for higher education to constantly adapt its curriculum with regards to emerging technology?

It started out as a cost savings strategy and failed miserably. Costs increased rather than decreased. Now the strategy is to expand markets. For example, the University of Northern Arizona has over 50 courses online through eCollege. ASU did not do this to save money. ASU did this to reach students anywhere in the world, and in particular ASU wanted to tap the Maricopa County (Phoenix) area market from tiny little Flagstaff.  My point here is that when you are reaching out to new markets you must seriously challenge "what sells."  One of the hot selling items in schools of business is anything related to e-Business and e-Commerce.

There is another reason which I think has been even more important. Among administrators (and some faculty) there is a sense of keeping up with the prestige universities (who are going online faster than anyone predicted.) For example, take a serious look at 

There also is a sense of urgency that, if academe does not partner with business, business will simply take over education and training, thereby by draining the market for students (except for high school graduates whose parents want both educated and out of the nest in a safe dormitory in some little prestigious liberal arts college that caters to smart and immature teens). There are now over 2,000 "corporate colleges," including those with prestige names such as Motorola University, General Electric, AT&T, Arthur D. Little, etc. Harcourt Higher Education has full accreditation pending. See 

It is important to note that geographic comparative advantages are shrinking at a dramatic rate since synchronous and asynchronous classes can and are being given to students most anywhere in the world that has telephone service. The quality and prestige of online courses and programs is increasing dramatically. Why take a course from a local community college when you can earn more prestigious credits from Duke, UCLA, Stanford, and thousands of other online programs? There is a sense of urgency in academe that if you don't change you will find yourself selling buggy whips in a 21st Century shopping mall.

Any other comments? Thank you so much for your time!

You might want to tell readers how to find online courses and programs. See 

Sorry that I am so pressed for time today.

Bob (Robert E.) Jensen Jesse H. Jones Distinguished Professor of Business Trinity University, San Antonio, TX 78212 Voice: (210) 999-7347 Fax: (210) 999-8134 Email:

If we build it, will they come? The effects of experience and attitude on traditional-aged students' views of distance education Tracy Irani, University of Florida --- 

Although distance education is most often focused on the adult learner, increasingly large numbers of traditional aged (18-22) college students at U.S. institutions of higher education are enrolling in courses at a distance. Unlike adult learners, traditional aged students generally lack any direct experience of distance education and/or mediated course environments. They may approach the experience with different attitudes and perceptions and, lacking some of the same motivations as adult learners, they may be more susceptible to the influences of peers.

The purpose of this study was to examine the effect of direct experience on traditional aged students' attitudes, perceptions and intentions toward distance education. The study used a repeated measures design, set up to measure before and after effects of direct experience and peer influences on a sample of undergraduates at a large U.S. land grant university.

Results indicated that subjects with direct experience of distance education had stronger, more certain attitudes toward taking a distance education course, and that this certainty increased with experience. Also, for those subjects who did not have direct experience, peer influences that were positive in nature increased the likelihood of their intent to take a distance education course. These findings provide support for the argument that, for traditional aged students, intent to take a distance education course may be directly related to direct experience of distance education as well as the attitude and perceptions of the peer groups to which they belong.

A listing of top books on new technologies in education --- 

Good news for Mark Garrison at Trinity University

Subject: FW: New Associated Colleges of the South (ACS) Program in Modern Languages

Bob, You probably know that Mark Garrison in Classical Studies directed a very successful on-line course in the spring but you probably do not know that the ACS just received a grant to develop more such courses in languages among other things. Here is the information they sent on the grant. The first part is what I sent to my departmental colleagues.

Dear Colleagues, Early this summer I learned that an ACS grant proposal I had co-written a few years ago (during the time of our Culpeper Grant) was funded. Please read the description of the grant, and if you would like to participate in the program when it gets going, let me know. I shall be going to a meeting July 24-25; and if you have any specific comments or ideas that you would like me to pass along, get them to me before the 23rd of July. 


The Associated Colleges of the South is pleased to announce a new initiative as a follow-up to our previous faculty training in modern languages. "A Virtual Department of Modern Languages". This 3-year initiative is funded by the Robert Woodruff Foundation, and will provide funding for planning and implementing mechanisms for sharing resources and expertise among ACS modern language departments. The initial phase of this effort is being led by a steering committee comprised of Sarah Burke (Russian, Trinity University), Kathy Koberstein (French, W&L), Pat Pecoy (French and Language Lab, Furman) and Andrew Ross (Language Lab, Richmond).

More details about timeline, organization and meetings will be available after a meeting of this committee and ACS staff July 24-25, 2000 at the ACS Technology Center. In order for this meeting to be a success, we need your help! Please let us know who in your department would be interested in participating in this effort, so we can be sure to keep you apprised. Please also send us your suggestions for activities or resources that you think would be of use to your department and the consortium as a whole. Among the suggestions we have already had are:

--surveying ACS ML departments for information on curriculum and current technology efforts;

--exploring just how a "virtual department" can support existing programs and how it can most fully enhance existing programs at all 15 ACS institutions;

--exploring current efforts to develop technology-facilitated collaborative courses in such less-commonly taught languages as Russian, Japanese and others;

--developing collaborative courses in advanced or specialized areas in the more common languages, esp. areas that would tie into study abroad experiences (e.g. "Spanish for Business" or other discipline-specific areas);

--development of a template or infrastructure for offering inter-institutional courses (using current ACS offerings and others as models);

--development of a shared archive of materials for language teaching (along with exploration of existing archives) at the small liberal-arts college

--arrange regular meetings of ACS ML faculty and staff, perhaps in conjunction with national or regional professional conferences

--explore organizational strategies and roles to be played by ACS language faculty and staff

Please send any additional suggestions (general or specific) to Suzanne Bonefas ( ), so we can incorporate these into the planning process. It would be great to get comments in time to discuss these at the steering committee meeting, though of course you may send suggestions to ACS or to the steering committee members at any time. The more input we have from ACS ML faculty and staff, the better! This program is for *all* ACS language programs, and we hope you can all participate in some capacity.

Thanks in advance for your advice and counsel -- we at ACS look forward to working with all of you and to exciting future collaborations!

Mark provided input in my March 22 edition of New Bookmarks.  He talked about the joys and sorrows of his first year of teaching online.  Go to 

You may want to see the critical remarks on learning political science online --- 
This document takes a somewhat negative and defensive stand.  As I stressed repeatedly in previous writings, distance education before Year 2000 cannot be compared with distance education after Year 2000.  The main reason is that instant communication (written, verbal, and visual) will become so good that the difference between a correspondence course and future distance education courses is like comparing night with day.

"Plato as Distance Education Pioneer: Status and Quality Threats of Internet Education"[First Monday, vol. 5, no. 7, July 2000], Gary Klass (associate professor of political science at Illinois State University)


The Connection Between Professional Status and Quality Learning Threats
Distance Education Circa 360 B.C.
"Distance" Education in the 1960s
Student Choice on a Virtual Campus

In particular not 

The outsourcing of the general education curriculum brought about by student shopping on the Internet, more so than the development of virtual universities and virtual programs, thus poses the greatest threat to traditional academe: killing the cash cow and the faculty's family-farm lifestyle and at the same time derailing the progress toward general education reform. It won't be long before fraternities begin offering their members a distance learning service similar to that of the state virtual campuses, but providing additional two critical pieces of information: the amount of work required in the course and the standards for getting a good grade. Whatever the quality of the distance education products developed by textbook publishers and course delivery software outlets, the standards for these courses will be set by those who seek to enroll the most frat boys.

And there's not much faculty can do about it and preserve their traditional perquisites at the same time. "Rear-guard" efforts to control the diffusion of distance education by setting university or discipline-wide standards for online courses are likely to result in the same protests concerning restrictions on faculty autonomy and academic freedom that David Noble raised in opposition to distance education [31].

On the positive side, those colleges and universities that do not depend on the political economy of the cash cow and the large lecture hall, that provide a "real" rather than a "virtual" education, that provide an integrated four-year curriculum, with students taking small classes from real professors in real classrooms, and that become more efficient by eliminating functions and activities that are truly extraneous to undergraduate education, may survive the distance education revolution quite nicely.

I might note that First Monday is a peer-reviewed journal on the Internet at 

Early Patterns of Faculty Compensation for Developing and Teaching Distance Learning Courses---  
by Gary A. Berg

This paper is an investigation into compensation practices for faculty developing and teaching distance learning courses. The research divides itself into two basic lines of inquiry: direct and indirect compensation (including royalties, training, and professional recognition). Also, economic models for distance learning are examined with a view towards understanding faculty compensation within attempts to reduce labor costs. The primary questions this research attempts to answer are: What are the current policies and practices in higher education for compensating faculty who develop and teach distance learning format courses? Will the increased use of distance learning format courses alter overall labor conditions for American faculty? If so, how? Although information is limited, it is found that faculty work in both developing and teaching distance learning format courses tends thus far in this early stage to be seen as work-for-hire under regular load with little additional indirect compensation or royalty arrangements.

I have started to thread documents about costs of developing online courses and education programs.  This paper includes issues of faculty compensation and ownership of content ---

Free phone calls courtesy of Microsoft --- 
Reported by

Net2Phone Inc., the Internet telephony carrier, got a significant boost yesterday when Microsoft Corp. announced plans to integrate its voice and fax service with MSN Messenger 3.0, the online service's new instant chat package. The VoIP (Voice over Internet protocol) carrier says the expected 18 million users of MSN Messenger 3.0 will get free long-distance calls to the United States and Canada from almost anywhere in the world with an Internet connection.

ACE Professors of the Week

Until recently there was almost nothing in the Accounting Coursepage Exchange database on not-for-profit accounting.  Now there is a short but growing list of exchanges.

Undergraduate ACE Courses (Government and Not-for-Profit)\scripts\aaa.exe&config=aaa&request=browsebyundergradaccept&cat=UGS 

Graduate ACE Courses  (Government and Not-for-Profit)\scripts\aaa.exe&config=aaa&request=browsebygradaccept&cat=MGS 

I want to thank those GNFP professors for sharing.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

Auditors and Consultants Shouldn't Be Too Close
By John H. Biggs
WSJ Page A26 

Related Article:
SEC Calls for Rules To Curb Consulting By Auditing Firms By Michael Schroeder 6/28/2000 Page A4
TOPICS: Auditor independence, consulting and management services, corporate governance 
(Financial Accounting, Auditing)

1.	What incidents have recently raised concerns about auditor
independence? How has the Securities and Exchange Commission responded to
these concerns?  
2.	What are the current auditor independence rules? How did they evolve
into their current form? Why are they no longer as effective?
3.	What are the arguments for audit firms maintaining management
consulting practices? Why are the Big Five auditing firms trying to separate
their auditing and consulting divisions?  Will such separation achieve
auditor independence?
4.	The Board of Directors of a company bears ultimate responsibility
for hiring auditors and consultants.  If they choose to have the same firm
provide both auditing and consulting services, why does the SEC question
their judgment?  Why doesn't the SEC directly regulate the decision-making
of Boards of Directors rather than indirectly by limiting auditor
5.	How does Mr. Biggs' proposal differ from the SEC's proposal? How do
you expect the audit firms to react to Mr. Biggs' proposal? Given Mr. Biggs'
position, how much influence do you think his views will have on managers of
other public companies?

Ushering Out the U.K.'s Dinosaur Age by Ian McInnes --- 

Last April, Barclays Merchant Services--which is part of Barclays PLC, the United Kingdom's largest bank, and one of the biggest in the world--unveiled with much fanfare a new e-commerce service called "En@ble." The Internet merchant registration service was designed to bring online, in a matter of days vs. weeks, Barclays's business customers looking to engage in commerce via the Web.

Essentially, the En@ble program provides one-stop shopping for basic e-business services. A business customer approved for the service can receive assistance from BMS with registering a domain name for his or her operation, building a Web site, and then arranging all merchandising needs such as a Web-based system for accepting credit cards as payment for goods and services.

It was a logical move for BMS, one of the largest acquirers and processors of credit card transactions: In 1999, 1.1 billion purchases were made with credit and debit cards in the 130,000 outlets belonging to BMS's customers in the United Kingdom. (Barclays also was the first bank in Europe to launch an Internet payment system, which it calls "ePDQ.")

The Cube: Apple's NeXT Mistake? ---,1282,37669,00.html 

NeXT, Inc. was founded in 1985 by a then-exiled-from-Apple Steve Jobs. The company introduced a "revolutionary" black cube-shaped computers late 1988, one of which is now enshrined in the RetroComputing museum.

The NeXT cubes featured an optical drive instead of a floppy drive, but the first models were panned because they were thought to be overpriced ($9,995) and underpowered.

"Only 400 or so of the first NeXT cubes were manufactured and sold, but Jobs stuck to his guns and said the technology was ahead of its time," recalled Steven Vadislav, a NeXT cube owner.

"And I guess Jobs was right, because here the Cube comes again. Back in '88 Jobs called his cube a workstation; today's G4 cube is being called a supercomputer."

"The first Cube wasn't exactly a real workstation, and the G4 Cube isn't exactly a supercomputer, either," said Jeff Davies, a Mac network consultant in Manhattan. "You expect a supercomputer to have a CPU a bit faster than 450MHz, right? But it's a great looking machine all the same, and I can't wait to get my hands on it to try it out."

Job's NeXT Cube was meant to transform the PC business. The machine also united Jobs with his then archrival, IBM, an enthusiastic supporter of NeXTSTEP software, the operating system powering the NeXT cubes.

Apple got NeXTSTEP software as part of a package deal when they rehired Jobs in 1998. The company has since quietly phased out support for many NeXTSTEP products.

"I guess Jobs just couldn't let his baby go quietly into the night," said Vadislav, who met Jobs around the time he bought his NeXT computer, and recalls that Jobs "sure was inordinately fond of that Cube design."

Also see,11011,2605260,00.html 

From InternetWorld News on July 20, 2000 

The CEO of an airline-backed travel agency portrayed his start-up in congressional testimony Thursday as the underdog, not the big bad guy. Orbitz, the online travel agency jointly owned by Delta, United, Northwest, Continental, and American Airlines and set to launch this fall, is facing scrutiny from the Justice Department and the Transportation Department. The project, organized by Boston Consulting Group, was dubbed T2 in its development phase, which some have interpreted to mean "terminate Travelocity."

Jeffrey Katz, CEO of Orbitz, told the Senate Commerce Committee that Orbitz will give consumers more choices and that the company faces "huge obstacles even to become No. 3 in the online travel market."

But Terrell Jones, president and CEO of, told senators, "It's not a normal competitor. It's owned by a group of airlines that hold and can choose to withhold information."

From InternetWorld News on July 20, 2000 

Microsoft's software patch will let users distinguish between third-party cookies -- usually deployed by an advertisement on the site being surfed and often used to collect personal data -- and first-party cookies, delivered by a site a user is on and often used to remember passwords. Web users who download the software patch, the beta of which will be available in about four weeks, will be warned by a pop-up window when a third-party cookie tries to make a home for itself in a hard drive. Users will be given a chance to reject the cookie and all other third-party cookies, and can ask not to be warned in the future; users who reject third-party cookies will still be able to accept first-party cookies. Microsoft stressed that this is only the first step in its development of privacy technology, and future warnings are expected to include more detailed information about how the cookies will be used. The company is currently testing the technology privately with various Internet companies, consumers, and other Net officials.

"We welcome this move by Microsoft," said Jason Catlett, president of privacy watchdog Junkbusters Corp., in a press conference Thursday afternoon. Catlett said he hadn't seen the language Microsoft will use to explain cookies in its warnings, but the company has told him, he said, that it will clearly explain what the cookies do and ask users what they want to do with them. No matter the language, Catlett said the technology seems to surpass any implemented by Microsoft's most formidable browser competitor, Netscape, which Catlett said has historically had better cookie management. Opera, another browser whose user base is much smaller than Microsoft's or Netscape's, trashes third-party cookies unless users ask it to do otherwise.

Catlett said he expected ad networks like DoubleClick and CMGI's Engage to be a bit upset by this move to bring data collection out into the open, but Engage, for one, reacted positively. DoubleClick referred requests for comment to the Network Advertising Initiative, a trade group that could not be reached for comment at press time.

"We're very excited by this because we're being tainted by bad actors," said Daniel Jaye, cofounder and chief technology officer at Engage. "It certainly will increase the opt-out rate, and that's fine. But this technology will also allow us to differentiate from other advertisers."

The contrast to which Jaye refers may be evident when this technology can display a company's third-party collection policies along with warnings. Also Engage is hopeful that its TrustLabel technology, which delivers digitally signed labels and lets users choose to accept third-party cookies approved by outside organizations, such as TRUSTe, will be added to upcoming versions of IE. Engage is one of the original coauthors of the Platform for Privacy Preferences Project (P3P) and believes its TrustLabels will complement P3P. P3P is designed to store privacy preferences on browsers and then compare those preferences with a Web site's privacy policy (see June 21 IWN).

"There's a lot of potential good in TrustLabels," Catlett said. "But the important thing to stop now is the unmitigated collection of data."

There are over 2,000 beta testers of this privacy patch at the moment.  You can read more about it at,1282,37677,00.html 

Next Antitrust Target: Consumers? ---,1283,37658,00.html 

Cartels, monopolies, and other nasty threats to competition have traditionally been the province of large companies, but the Internet may now give consumers a measure of revenge.

Web technology gives buyers the chance to gang up for once on the people selling goods, but Joel Klein, Washington's man who took on Microsoft, said on Wednesday he would be keeping an eye on them.

"Obviously you shouldn't have 90 percent of the buyers aggregated on a website. If they are going to buy collectively, it's going to raise some real issues," the Justice Department antitrust chief told a lawyers' conference in London.

Some websites -- like in Europe -- offer ordinary consumers the chance to get together and use their combined buying power to push down prices.

But cartel worries center on industry trade -- mainly involving online exchanges where businesses club together to buy from suppliers -- where those with the most to gain may once again be big corporations.

One of the most powerful sites is Covisint, being developed by General Motors, Ford, and DaimlerChrysler, Detroit's Big Three automakers.

They hope to cut costs by funneling their $300 billion in combined parts spending through such a network.

Japanese and other European carmakers have said they are interested, too, and if they join up, suppliers may be left with just one mega-customer which can call the shots as it pleases.

Klein told a meeting of the American Bar Association, holding its annual convention in London this year, that the issue was in its infancy.

"You'll see some guidance coming out on buyer-side agreements," he added.

Klein, whose department persuaded a district court to order Microsoft split in two to break up its monopoly power, said antitrust investigations would become an ever more important part of economic government.

He said globalization and technology had made the markets more powerful than people had anticipated, and predicted that telecoms, energy, aerospace, and other industries would inevitably be deregulated.

"It is almost inconceivable to think that top-down government regulation is possible in the 21st century," he said. "The only legitimate form of government intervention will be antitrust intervention."

British Authorities May Get Wide Power to Decode E-Mail --- 

As the Clinton administration formally enters the debate about law enforcement surveillance in cyberspace, the British government is about to enact a law that would give the authorities here broad powers to intercept and decode e-mail messages and other communications between companies, organizations and individuals.

The measure, which goes further than the American plan unveiled on Monday in Washington, would make Britain the only Western democracy where the government could require anyone using the Internet to turn over the keys to decoding e-mails messages and other data.

Such a measure would be an important tool for the government because data is increasingly being encrypted for reasons of security and privacy.

Despite a barrage of criticism from all sides, the bill is likely to become law as it passes through its final stage in the House of Lords and returns to the House of Commons next week because the Labor government, which offered the plan, holds a wide majority in Parliament.

The AACSB has a very important website of resources for universities and instructors seeking to build e-Business and e-Commerce into courses and programs.  See 

Its losses have topped a staggering $1.5 billion since early 1998, but Big Blue's Personal Systems Group finally appears to be on the road to recovery --- 

Dr, Jensen,

I have seen your software section on your website. I work with Summit Systems, Inc. in New York, as a Business Analyst in charge of FAS 133 support for our customer. You can find more information about us at .

Our product provides support for Derivative instruments in the following area: Trading, Risk Management and Operations.

FAS 133 has been in the middle of our concern since its first draft. We are currently finalizing some developments to provide solutions to medium and small institutions that need to comply with FAS 133. Although some of our biggest customers have been working with us to roll the FAS 133 requirement by requiring some specific enhancements to their system, we have noticed that the medium and small institutions often lack information and guidance on the subject.

We are therefore providing a 'turn-key' solution to those institution by rolling over what has been done with other clients. The subject is quite new and we are constantly improving to the product to comply to new standards.

In that regards, I have to say that the documents presented on your web-site are helping us tremendously to achieve this objective.

Thanks a lot for this contribution. Jean-Fabrice Detard

New Business Group

Good morning, Professor Jensen:

As always, I find your bookmarks a source of education, inspiration, and a reminder that I would need a dozen lifetimes to see all the web has to offer.

Re: the "Glurge" about Mel Gibson ... I receive countless emails containing stories of the "Chicken Soup for the Soul" variety and usually skip them by. However, when one comes along that contains a celebrity/historical name, the skeptic in me clicks on . So far, 100% of the stories (including Mel Without a Face) come back certifiably false.

To verify email alerts concerning viruses, I access US Dept. of Energy Computer Incident Advisory Capability website 

By the way, I turn on my skeptic mode when I hear from the mainstream media, too. Despite a plethora of editors, they will also skew (see Brill's Content  or Media Research Center  )

Hope you are surviving the legendary Texas summer.

Janet Flatley AVP-Controller 1st Fed S&L Assn Pt Angeles WA (360) 417-3104

From my good friend Dick Wolff

Subject: The Price of Kids

  The government recently calculated the cost of raising a child from birth to  18 and came up with $160,140 for a middle-income family. Talk about sticker  shock. That doesn't even touch college tuition. For those with kids, that  figure leads to wild fantasies about all the things we could have bought, all  the places we could have traveled, all the money we could have banked if not  for (insert child's name here). For others, that number might confirm the  decision to remain childless. But $160,140  isn't so bad if you break it down. It translates into $8,896.66 a year,  $741.38 a month or $171.08 a week. That's a mere $24.44 a day. Just over a  dollar an hour.   

Still, you might think the best financial advice says don't have children if  you want to be rich. It's just the opposite. There's no way to put a price  tag on: 

  * Feeling a new life move for the first time and seeing the bump of a knee  rippling across your skin.   * Having someone cry, "It's a boy!" or shout, "It's a girl!" then hearing the  baby wail and knowing all that matters is it's healthy.

  * Counting all 10 fingers and toes for the first time.   * Feeling the warmth of fat cheeks against your breast.   * Cupping an entire head in the palm of your hand. 

  * Making out da da or ma ma from all the cooing and gurgling. 

  What do you get for your $160,140?

   * Naming rights. First, middle and last. 

  * Glimpses of God every day.   * Giggles under the covers every night.

  * More love than your heart can hold.   * Butterfly kisses and Velcro hugs.   * Endless wonder over rocks, ants, clouds and warm cookies. 

  * A hand to hold, usually covered with jam. 

  * A partner for blowing bubbles, flying kites, building sandcastles and  skipping down the sidewalk in the pouring rain. 

  * Someone to laugh yourself silly with no matter what the boss said or how  your stocks performed that day. 

 For $160,140, You never have to grow up. You get to finger-paint, carve  pumpkins, play hide-and-seek, catch lightning bugs and never stop believing  in Santa Claus. You have an excuse to keep reading the adventures of Piglet  and Pooh, watching Saturday morning cartoons, going to Disney movies and  wishing on stars. You get to frame rainbows, hearts and flowers under  refrigerator magnets and collect spray-painted noodle wreaths for Christmas,  handprints set in clay for Mother's Day and  cards with backward letters for Father's Day. For $160,140 there's no  greater bang for your buck. You get to be a hero just for retrieving a  Frisbee off the garage roof, taking the training wheels off the bike,  removing a sliver, filling the wading pool, coaxing a wad of gum out of bangs  and coaching a baseball team that never wins but always gets treated to ice  cream regardless.   You get a front-row seat to history to witness the first step, first word,  first bra, first date, first time behind the wheel. You get to be immortal.  You get another branch added to your family tree, and if you're lucky, a long  list of limbs in your obituary  called grandchildren. You get an education in psychology, nursing, criminal  justice, communications and human sexuality no college can match. In the eyes  of a child, you rank right up there with God. You have the power to heal a  boo-boo, scare away monsters under the bed, patch a broken heart, police a  slumber party, ground them forever and love them without limits, so one day  they will, like you, love without counting the cost.

This is a reply concerning a hot FAS 133 issue that you can read about at 

----Original Message----- From: sajjad []  Sent: Monday, July 24, 2000 9:39 AM To: Jensen, Robert Subject: Re: Correction.noted

I had been busy, will look at your over(underhedging) case for swaps. Like I said before that situation should also exist on forwards also? What do you think? . I do want to respond to one of your readers addressing the issue of "Bookouts". That phenomenon is common in the commodity biz, specifically in the Gas and Commodity business and it has been addressed by DIG, Firstly 138 has expanded the Normal Purchase and Sales exceptions in a way that on the 9(a) and 9(b) criteria have been relaxed. Secondly in applying the interpretation language to the case of Bookouts, the issue is the existence of a market mechanism that facilitates Net settlement. And settlement process in turn requires a process that extinguishes the existence of rights and obligations that have otherwise been created by the contract. If there exists a series of transactions whereby offsetting contracts are created that tend to offset each other, but DO NOT actually eliminate the rights and obligations of each party under contract, then they DONOT meet the definition, since the rights and obligation DO EXIST under each contract. They are merely offsetting not eliminating. This is exactly the case in most Bookouts.

The only exception will be, if the offsetting contract ends up with the counterparty that was the originating party. In that case the terminating contract will have the cancellation characteristics of the original contract's rights and obligations.

You can share my response with the reader who asked you the question. Also if you can elaborate his question, or provide me complete excerpt, I might be able to address it better.

Sajjad Rizvi
Energy Risk Consulting

Yahoo! Living - good things for the wired homemaker --- 

Universal Classics (film, video, art, music) --- 

Asian Film Connections --- 

Home for free software developers around the world --- 

Forwarded by Aaron Konstam 

If you are a poetry buff the following web site should excite you: 

Play Othello online --- 

Othello is the best-selling licensed strategy game in the World, with over 30 million units sold worldwide.

Othello was invented by Japanese game enthusiast, Goro Hasegawa in 1971.

Inspired by the classic board game 'reversi' and the ancient Japanese strategy game 'go', Hasegawa sought to develop a game that was rich in strategy, but still approachable by the casual player. He named his new game after Shakespeare's classic play. That same year, Hasegawa organized the Japan Othello Association and the first national tournament was held in April, 1971.

Today, there are over 15 national Othello Associations throughout the World.

Othello was introduced to the rest of the World in 1976.

In 1977, the first World Othello Championship was held at the Imperial Hotel in Tokyo. The champion was Hiroshi Inoue of Japan, with Thomas Heiberg of Norway as runner-up.

Resources for the Study of World Civilization 

Companies like Nokia and Microsoft are preparing to put the Internet in the palm of your hand. Will you be ready? asks Eric Lundquist --- 

Yahoo! Privacy Center - newly redesigned, from Auctions to Yellow Pages --- 

Deja Vu (History of web surfing like it used to be ---  it was not so simple then.) 

Folk Psychology vs. Mental Simulation: How Minds Understand Minds 

Best Hospitals ---- 

The Symphony: An Interactive Guide (History, Music) 

The Journal of Mundane (Academic) Behavior --- 

For educated shoppers (marketing, retailing) --- 

Old Woodies (History of things made of wood) --- 

Gateway to Art History 

Smithsonian Archives of American Art 

Rush Limbaugh --- 

PRO2NET ACCOUNTING WEEKLY UPDATE  For the Week of July 24, 2000:

1. Pro2Net Unveils New Look and Feel 
2. The Week's Top Accounting News 
. Feature Solutions Articles in Brief 
4. Opinion: Rick Telberg's Insider 
5. Pro2Net Tip of the Week: Some true - but not inherently obvious facts - about Independence

Pro2Net Accounting Students Newsletter  July 25, 2000

1. Pro2Net Accounting Students Launches New Look and Feel 
2. Audio Interview: The Computerization of the CPA Exam 
3. Enter to Win An Online Bisk CPA Exam Review 
4. Beyond the Spreadsheet: Technology Skills Students Need to Enter the Job Market


The AccountingWEB on July 21, 2000 --- 

1. Tax Legislation Update - (Give This To Your Staff!) 
2. Tax Accountants Missing the e-Mark 
3. SEC Heats Up Investigation Into Auditor Independence Violations 
4. Five CPA Firms Combine Forces To Create 13th Largest Firm 
5. Top Book Recommendations for the Business-Minded 
6. Break with Tradition - Pay for Performance! 
7. Excel Tip: Alphabetize a Column of First and Last Names by Last Name 
8. Robert Half & IMA Team for Member Benefits 
9. AICPA Tapped to Help Form e-Security Measures 
10. New Jobs for the New Economy

Forwarded by Dick Haar

A woman was chatting with her next door neighbor. "I feel really good today. I started out this morning with an act of unselfish generosity. I gave a twenty dollar bill to a bum."

"You gave a bum twenty whole dollars? That's a lot of money to just give away. What did your husband say about it?"

"Oh, he thought it was the proper thing to do. He said, 'Thanks.' "

Selected items from Deep Thoughts and Quotes ---

Always remember, 49.9% of your friends are below average.

If at first you don't succeed, blame it on your parents.

For sale: an antique desk suitable for lady with thick legs and large drawers.

14% of Americans surveyed agree that Puerto Rico should not be the 51st state because "that extra star would make the flag look bad."

23% of Perot voters say, "The candidate I vote for usually loses."

17% of college graduates would punch themselves really hard in the face for $50.

28% of Americans think that our army's high-tech military equipment is too expensive to risk in combat.

One third of American women agree that baseball was more exciting when it was on strike.

When Ford Motor Company began marketing their popular Pinto in Brazil years ago, they were puzzled by terrible sales. Things improved when they changed the name to Corcel, which means "steed." Pinto is Brazilian slang for "tiny male genitals..."

Dog for sale: eats anything and is fond of children.

Rehab is for quitters


Stock up and save. Limit: one

Why buy a product that it takes 2000 flushes to get rid of?

Our bikinis are exciting. They are simply the tops.

Illiterate? Write today for free help.

I discovered today that goldfish do not like jello.

Screw the planet, save yourself.

What is another word for synonym?

If a mute swears does his mother wash his hands out with soap?

When you open a big bag of cotton balls, is the top one meant to be thrown away? (think of pill bottles)

Is it possible to be totally partial?

If a funeral procession is at night, do people drive with there lights off?

How can the weather be hot as hell one day and cold as hell another?

Dad always thought laughter was the best medicine, which I guess is why my mother died of tuberculosis.

I hope if dogs ever take over the world, and they chose a king, they don't just go by size, because I bet there are some Chihuahuas with some good ideas.

The face of a child can say it all, especially the mouth part of the face.

If you were a poor Aztec with no weapons, and a bunch of conquistadors came up to you and asked where the gold was, I don't think it would be a good idea to say, "I swallowed it. So sue me."

When you go in for a job interview, I think a good thing to ask is if they ever press charges.

If a parsley farmer is sued, can they garnish his wages?

Why do people who know the least know it the loudest?

If a kid asks where rain comes from, I think a cute thing to tell him is "God is crying." And if he asks why God is crying, another cute thing to tell him is "Probably because of something you did."

Children need encouragement. If a kid gets an answer right, tell him it was a lucky guess. That way he develops a good, lucky feeling.

Instead of trying to build newer and bigger weapons of destruction, we should be thinking about getting more use out of the ones we already have.

If you ever catch on fire, try to avoid looking in a mirror, because I bet that will really throw you into a panic.

I think the mistake a lot of us make is thinking the state-appointed shrink is our friend.

I hope life isn't a big joke, because I don't get it.

I wish I lived back in the old west days, because I'd save up my money for about twenty years so I could buy a solid-gold pick. Then I'd go out West and start digging for gold. When someone came up and asked what I was doing, I'd say, "Looking for gold, ya durn fool." He'd say, "Your pick is gold," and I'd say, "Well, that was easy." Good joke, huh.

Rude replies.

Ahhh...I see the screw-up fairy has visited us again...

I don't know what your problem is, but I'll bet it's hard to pronounce.

How about never? Is never good for you?

I see you've set aside this special time to humiliate yourself in public.

I'm really easy to get along with once you people learn to worship me.

I'll try being nicer if you'll try being smarter.

I'm out of my mind, but feel free to leave a message...

I don't work here. I'm a consultant.

It sounds like English, but I can't understand a word you're saying.

I can see your point, but I still think you're full of it.

I like you. You remind me of when I was young and stupid.

You are validating my inherent mistrust of strangers.

I have plenty of talent and vision. I just don't give a damn.

I'm already visualizing the duct tape over your mouth.

I will always cherish the initial misconceptions I had about you.

Thanks, we're all refreshed and challenged by your unique point of view.

The fact that no one understands you doesn't mean you're an artist.

Any connection between your reality and mine is purely coincidental.

What am I? Flypaper for freaks!?

I'm not being rude. You're just insignificant.

It's a thankless job, but I've got a lot of Karma to burn off.

Yes, I am an agent of Satan, but my duties are largely ceremonial.

No, my powers can only be used for good.

You sound reasonable...time to up the medication.

Who me? I just wander from room to room.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on July 26, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


July 19, 2000

Quotes of the Week:  

A university is what a college becomes when the faculty lose interest in teaching.

Just because advice is expensive does not make it good advice.

To believe with certainty, we have to begin by doubting.

A lie has speed, but truth has endurance.

The best way to have a clear conscience is to have a shortened memory.

You are remembered for the rules you break.
Douglas MacArther

Take time to understand, 
And lend a helping hand

Love cannot be bought, borrowed or stolen,
It can only be given away.

I plan to run a video on how to use the BeVocal virtual woman in my future technology in education workshops that you can see listed at 
The reason is that I think she is where the future of education and training will converge upon in the 21st Century!  She is the paradigm shift we are looking for in use of knowledge bases.

Probably the most exciting thing this week is the featured speech recognition software on the PBS television show called Computer Chronicles.  This show was a summer re-run of the Computers Without Keyboards show summarized at 

There were various demonstrations, including almost flawless letter dictation using Dragon's Naturally Speaking.  You simply say "new paragraph," "comma," or other accepted commands, including correction comments such as a command to change "two" to "too."  The Dragon Naturally Speaking software and other leading speech recognition websites are given at 

But everything else on the show paled in comparison to the BeVocal demonstration of how you can call a free long distance number and interact by phone with a virtual woman at 

It's the only way to get FREE driving directions, traffic reports, weather forecasts, business locations, flight information, stock quotes, and more by phone. Just call 1-800-4-BVOCAL, speak up, and get what you need.

What is impressive is the fact that you can interrupt the virtual woman and ask her to repeat herself or spell words like names of city streets.  You can also ask for current delays due to construction or traffic at the moment.

What is important to educators and librarians is not this particular virtual woman and this particular application with a knowledge base on the above topics.  What is important is that this demonstrates the future of education and training of the 21st Century.  Suppose you really do not know how to account for a cross-currency swap using a EURIBOR index.  Someday it will be possible to dial up (from a hand-held phone which will also be a wireless computer) and listen to a detailed interactive tutorial that walks you through your particular problem (where you feed in your own particular parameters).  You will be able to "barge in" when you don't understand something, ask for definitions, ask for diagrams, ask for history, ask for examples, ask for current index levels, etc.  One day in the future you will also be able to do the same thing when trying to understand passages from Hamlet or Bob Jensen's muddled up theory paper at 

As educators, we have a responsibility to begin to organize the academy to design speech-recognition knowledge bases for BeVocal types of education and training.  

Could I ever use this BeVocal service if it was available for the really confusing FASB examples for FAS 138 given at   I have nearly finished extending and improving Example 1 of Section 1.  But I am really hung up on Example 1 of Section 2.  In particular, I am having difficulty figuring out how the Row F (0,5.333, 5.642, 11.472, 17.357) numbers are computed in Example 1 of Section 2 on "Fair Value Hedge of a Fixed-Rate Foreign-Currency-Denominated Loan in Which all the Variability in the Functional-Currency-Equivalent is not Eliminated." 

Do you have a clue on how those Row F percentages for "EUR fixed to USD Floating Swap" are derived?  If so, please send me an urgent email answer.  My email address is 

I found one of my old lectures online.

The Emanuel Saxe Distinguished Lectures in Accounting 
Stan Ross Department of Accountancy at Baruch College of the City University of New York,

by Robert E. Jensen April 1, 1982 --- 

The issue is not whether upside down approaches in research are bad per se. Rather, the issues are whether the tools are (i) inappropriately applied to accounting problems, and/or (ii) applied to uninteresting accounting problems. For example, statistical tools have very frequently applied to accounting problems that seriously violate the assumptions of the statistical models, e.g., see Jensen [1979]. In addition, they may be correctly applied in artificial settings that have dubious external validity such as business game behavioral experiments and computer simulation studies. A primary danger in upside down research is the danger of being so strapped by the research tool that neither the novelty nor the applicability of the study is of interest to accountants. On various occasions I have previously made the point (and I'm sure Professor Baxter would agree) that contributions to statistics are best reviewed by statisticians and published in statistical research literature. I have also sympathized with accountants who find little of interest in some of the previously published academic accounting literature. "A major danger is the mechanical use of statistical techniques in overly superficial settings which have little or no relevance to accounting issues," Jensen [1979, p. 189]. We might paraphrase the thrust of Professor Baxter's comment by saying that "accounting research really consists of a lot of first-rate statistics applied to third-rate accounting problems."


Locke once stated that "a problem well put is half solved." Few attempts have been made to study the critical conception and embryo phases of accounting research, where creativity, innovation, experience and enthusiasm intersect at the crucial early stages.

Accreditation Issues

For general background on accreditation, you can enter the search term "Accreditation" at 

There are three sources of accreditation:

Richard Newmark forwarded the following information to me about the relatively new Association for Online Excellence:

For a new entity, AOAE has been quite busy -- they've accredited schools from Adams State College to Youngstown State University. (  )

You might want to check to see if your university is on the list -- and the university legal department might want to contact AOAE.

On a related note, tomorrow (Tuesday July 18) I'll be offering an online chat focusing on how to evaluate school websites from 1 to 3, Central time. Drop by  to join in.

.Kristin Evenson Hirst Guide to Distance Learning 

AOAE has a relatively long list accredited programs, including some major colleges and universities.

You can read more about accreditation at 

Rather than CPA firms and law firms, should it be possible to have one CPA/Law firm?  Ed Summers has a paper called "Multidisciplinary Professional Partnerships: The Future of the Professions?"  You can download the paper from 

The Word Spy (for new acronyms too) --- 

Welcome to The Word Spy! This Web site and its associated mailing list are devoted to recently coined words, existing words that have enjoyed a recent renaissance, and older words that are now being used in new ways. Each weekday, The Word Spy presents a new word, its definition, and a citation (usually from a major newspaper or magazine) that shows how people are using the word. You also get extra goodies such as background on the word's formation, a list of related words from The Word Spy database, quotations on words and language, and more. Use the link menu on the right to navigate the site. 

Supposedly astounding commercial and non-commercial websites --- 
From an education standpoint, I think they missed all of the best sites.

Current State of Equity Markets --- 

The Summer edition of the Accounting Education News newsletter of the American Accounting Association is available at 

The slate of nominees for new office includes the following:

Congratulations to all, especially to Joel.  These nominees (there is little doubt about the election outcomes) have a greater than usual burden to bear.  The academy is in a state of turmoil as technology is changing the paradigm shift for teaching, research, and practice throughout the world.  Out basic market (undergraduate accounting majors) is shrinking significantly (down 23% in the U.S. between 1995 and 1999).  At a time when we need new programs to deal with the paradigm shifts in education and research, out AAA memberships and budgets will be strained.  The test of great management is the ability to manage in times of great stress.  We need to help our existing and incoming leaders as much as possible.  Next year let's dig deeper to help Mary Stone (President) and Joel Demski  (President-Elect) and Craig Polhemus (Executive Director) as much help as possible.  On the bright side, the AAA membership from nations outside the U.S. is growing dramatically to a point where the AAA is the leading association for international accounting educators.  International membership should get an added jolt as China, North Korea, Viet Nam, and other nations around the world begin to prosper in the global economy.

Please take the time to read Craig's "A Few Words" at 
It concerns an innovative win/win 360° Benchmarking and Academic Partners program with benefits and costs to accounting schools and departments.  Crag also brings us up to date on the following matters:

Here are a few of the dozens of topics covered in the first six issues of our biweekly electronic newsletter, Leadership Express (which is now on hiatus until August): Starting Salaries for Accounting Graduates (Issue No. 1), Faculty Appointment Policy Archive Available on CD-ROM (Issue No. 2), Administrative Salaries (Issue No. 3), Endowment Funds—Where Does Your School Rank? (Issue No. 3), Disappearing Accounting Majors (Issue No. 4), Average Faculty Pay (Issue No. 5), XBRL—An Emerging Electronic Financial Reporting Language (Issue No. 5), and Accounting Students Have Second Thoughts about Accounting (Issue No. 6).

There is a very interesting and candid article (with special focus on the University of Southern California) entitled "Design and Implementing an Academic Scorecard" by Harold O'Neil, Estela Bensimon, Mike Diamond, and Mike Moore.  I can't make the link to this article work online, but the article begins on Page 11 of the hardcopy version of the Summer 2000 AEN newsletter.

Jan Williams focuses on four value propositions for the AAA

The four value propositions are as follows:

  1. Networking—We provide networking opportunities for those interested in accounting education, research, practice, and service.
  2. Peer Review—We provide peer review opportunities for those interested in accounting education, research, practice, and service.
  3. Faculty Development—We provide development opportunities for those interested in accounting education, research, practice, and service.
  4. Professional Involvement—We provide opportunities for those interested in accounting education, research, and service to understand and contribute to practice and policy making.

These four value propositions are augmented by a strategic support services objective of providing high-quality, cost-effective services to individuals, members, sections, and regions.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

My ACE professor of the week is Mark E. Peecher from the University of Illinois at Urbana-Champaign.  
The particular course that I looked at is Accountancy 305 on Assurance and Attestation at 

Instructor First Name: Mark E.
Instructor Last Name: Peecher
Institution: University of Illinois at Urbana
Course Title: Assurance and Attestation
Textbook: 4 Books (see syllabus)
Author(s): Bell, et al.; Kinney; Knechel; Solomon & Peecher

Marks shares various things in this course, including some lectures, assignments, links and chats.  Thank you for sharing Mark.
This course is listed in ACE as a Masters-Level Course.

I received a very long message and received permission to quote the message below regarding the Normal Purchases and Normal Sales (NPNS) amendment in FAS 138::

Hello Professor Jensen,

Great website! However, I have to disagree with your comment regarding the issue of NPNS.

I work for the Bonneville Power Administration (Bonneville), a federal based Electric Wholesale Power Marketer, we sell the output from the 29 federally owned dams on the Columbia and Snake River system in the Pacific Northwest.  I am the project manager for Bonneville responsible for implementing FAS 133.  More on Bonneville at the end of this email - postscript.


 Regarding the NPNS issue:    This issue is of big concern to the Energy industry as it relates to our normal sales and purchases activities.  I am most familiar with the Electric Utility  industry and the sales and delivery practices that are prevalent throughout the industry.  I would argue that Bonneville was much better off under the original statement para 10 (b) because the statement was silent on the practice I describe below referred to as "Bookouts".


Specifically, in the electric utility industry it is necessary and is considered best utility and business practice to perform a type of transaction called a "Bookout" whereby several transactions with the same Counterparty in the same month - a purchase and a sale - are offset and not scheduled for physical delivery.  For example, Bonneville may sell forward 200 MWs for the month of August 2000 in January 2000 based on our most current hydro forecasts and subsequently in May 2000 our most current forecasts now show a deficit and we have to purchase 200 MWs for the same month to cover our obligations.  We may from time to time find ourselves with both purchases and sales with the same counterparty in the same month at the same delivery location.  Just prior to delivery, we look at our schedule and try and match up transactions --- the "Bookout" procedure.


This "Bookout" procedure is common in the electric utility industry as a scheduling convenience when two utilities happen to have offsetting transactions. If this procedure is not used, both counterparties incur transmission costs in order to make deliveries to each other. The Bookout procedure avoids the energy scheduling process (an administrative burden as well) which would trigger payment of transmission costs.  We do not plan for this event or know in advance what we will bookout and we do not "Bookout" to capture a margin.  Rather, we find ourselves in this situation because of our inventory management constraints, maintenance schedules, and dependency on factors outside our control such as the weather and streamflows or environmental constraints placed upon us by other federal agencies or federal courts. 


We  lobbied the FASB and the DIG to clarify and revise the NPNS language to allow for this practice, but the FASB position was very restrictive -- if you do not deliver then it is considered net settled.   It seems to me and other industry participants that bookouts do not fit into the net settlement definition as it was described and intended in FAS 133. Rather it is a utility best practice that results in no physical delivery.  In addition, when we bookout the cash settling is done at the agreed upon contract prices - not at the market pricing.  We would argue that the Board's original intent was to capture net settlement mechanisms that require "market" settlement.   Unfortunately, the FASB made their decision about a practice without doing more homework on the nature of the transaction.  I understand the pressures the FASB was under to get the statement amended and implemented.  Unfortunately, the industry participants and practitioners are left to deal with the Board's end product.   The final 138 was not clear in its guidance either as it relates to these types of transactions and what this meant to our "similar" contracts that we want to qualify for NPNS.  I continue, along with our auditors, to hold discussions with FASB staff. 


What I am afraid may happen is that because of the "One size fits all approach by the FASB",  Bonneville and other regulated utilities will be forced into adopting a FV accounting approach on transactions that are simple sales and purchases.  Applying mark to market treatment to these transactions is more misleading to the financial statement reader not clearer - the original intent of 133.  I believe the interpretation of the final written words by individuals unfamiliar with the Energy industry is driving us into misleading and confusing presentation.


Any advice or encouragement you can provide would be appreciated.  We adopt October 1 and I have a deadline to meet and I still do not have final clear and convincing guidance.  I am ahead of most folks on this issue since we do have an earlier adoption date than most utilities.  Thanks for your time.  This is a complex issue and I apologize for the length of this email and I imagine I still have not described the issues in the most succinct and clear fashion.



Sanford Menashe
Project Manager, FAS 133




About Bonneville Power Administration:


Bonneville is a federal agency under the Department of Energy, which was established over 60 years ago to market power from 29 federal dams and one non-federal nuclear plant in the Pacific Northwest. BPA’s energy sales are governed by federal legislation (e.g. the Northwest Power Act) and other regional mandates to maintain the benefits of power sales for the Pacific Northwest region and to manage its environmental and safety obligations relative to operating the federal hydroelectric system. Its primary objective is to provide low-cost electricity to the region by offering cost-based rates for its power and transmission services to eligible publicly owned and investor-owned utilities in the Pacific Northwest (including Oregon, Washington, Idaho, western Montana and small parts of Wyoming, Nevada, Utah, California and eastern Montana).


Sanford Menashe, Manager, FAS 133 Project.
Bonneville Power Administration phone: 503-230-3570 email:

Data Warehouses: More Than Just Mining (From the Financial Executives Research Foundation) --- 

Entrepreneur's Help Page 
For $8.95, you can get the whole Entrepeneurs Help Page downloaded on book format (including legal forms) --- 

National Commission on Entrepreneurship --- 

The National Commission on Entrepreneurship was created to focus public policy on the role of entrepreneurship in the national economy and to articulate policies that will foster its continued growth. It is a resource for anyone interested in entrepreneurship and public policy. Made up of successful entrepreneurs, this Commission will provide policy makers with practical recommendations on how they can foster entrepreneurship well into the 21st century. Its work is original research and consultation with other successful entrepreneurs nationwide. The Commission is funded by the Kauffman Center for Entrepreneurial Leadership at the Ewing Marion Kauffman Foundation.

Note especially the Research Reports website at 
(You might guess that the NCE clashes with the FASB on stock options.)

Marketing on the Web (with some management helpers thrown in) ---   

Also see,OrganizationBehavior,andMarketing 

Teaching Teachers to Teach ---,1284,37362,00.html 
This is focused more on K12 teaching, but it does include some video referencing.

Note especially the links below:

Related Wired Links:

The Need to Teach Teachers Tech
Jun. 30, 2000

Top Business Schools E-Align
Jun. 29, 2000

Beginning this fall, three high-ranking, competing business schools will collaborate to offer classes to each other's students via full-motion video-conferencing and other Internet technologies.

School officials expect it to become a popular feature, despite logistical difficulties and a prevailing belief among detractors that the quality of the education might suffer.

The Haas School of Business at the University of California at Berkeley, the University of Michigan Business School, and the Darden School at the University of Virginia will offer each other's students classes specializing in e-business.

"So much of business education is the network-building between the students," said Haas Dean Laura Tyson. "What is nice here is that people in each location will now be able to have a new selection of classes to choose from, and a new selection of people to work with."

"In essence, this program is not only about sharing knowledge but about sharing communities," she said.

Each school will offer its own courses in e-business and technology. Class preparation materials and research will be distributed over the Internet, and students will communicate during class with each other and with faculty via video-conferencing and Internet chat rooms.

For example, a student at Berkeley's Haas School could elect to take Darden's course on e-business. The Haas School will offer a course on financial issues in the Internet sector, including valuation of high-technology companies. Michigan will teach a course on understanding and strategically applying Internet technologies.

The University of Michigan's alliance with the other two schools grew out of its video-conferencing and Internet chat room classes used by its MBA students studying abroad in Brazil and Korea. The university's MBA abroad program began in Hong Kong in 1985, when professors used video-conferencing and other Internet technologies. Although that program is no longer taking place, programs in Korea and Brazil are.

Michigan Dean of Business B. Joseph White went to Brazil to teach students who were using the technology.

"I came away from the teaching experience with the feeling that the students were achieving a very strong level of education," White said. "I feel very confident in the quality of education and fairness of grading that can be achieved through video-conferencing and the Internet."

"If I didn't feel it would work, I wouldn't propose (the alliance between Michigan, Haas, and Darden)," he added.

There are skeptics out there.

Mihir Mankab, a recent graduate of the J.L. Kellogg Graduate School of Management at Northwestern University, said it was difficult to enroll in a popular e-business class offered at his school. Due to its popularity, the class used video-conferencing and Internet chat rooms so that more students could participate.

The rest of the article is at,1367,37220,00.html 

You can read about related matters in top schools at 

Teachers Turn Out for Tech Toys
Jun. 28, 2000

Laptops a Key to Top Education?
Jun. 28, 2000

Teachers Learn Tech Lessons
Jun. 26, 2000

Maine Lines Up to Be Tech Mecca
Jun. 24, 2000

Online AP Courses: Boon or Bust?
Jun. 14, 2000

Online Learning's Long Curve
Jun. 12, 2000

You may want to take a look at "Cyberprof:  The University in the Next Millennium," Educom Review, September/October 1999, pp. 16-17 (This essay is part of a speech delivered by University of Oregon President David Frohnmayer). Go to

And so we approach the next millennium with considerable trepidation. If unchecked, this market approach to higher education will introduce a new character, CyberProf. Simply put in a token, pull the lever, and CyberProf will spew information. To be sure, the information will be beautifully organized, fully supplemented by stunning graphics and interactive interfaces and appropriately packaged for ease of navigation. But is this how we want to wield information technology (IT) in the digital age? Do we want to use IT merely as a way to expand our markets and find new audiences or to offer course-management tools to improve efficiency? Are we feeling pressure to offer distance-learning programs in response to some perceived new market? Is the college or university with the spiffiest Web-based courseware now the institution of choice? What happened to the roots of the Academy and the revealing of knowledge via the structure of rigorous inquiry? Has all of this been usurped by market forces and the crazy notion that information and knowledge are the same thing?

For Bob Jensen's view of history and predictions for education in the 21st Century, go to 

For those of us attending the annual American Accounting Association, Craig Polhemus provided the following message:

PHILADELPHIA WEB SITES  Philadelphia, known as the "City of Brotherly Love" offers a feast of historical and cultural activities and sites to see. Take a virtual tour of Philadelphia by visiting our collection of exciting web sites devoted to Philadelphia's heritage and community.

The main convention website is at 

I organized Workshops 1 and 34 at 

Voice access to the Web: next killer app?
Improvements in voice portal technologies are giving e-businesses a way to expand their markets and stand out from their competitors. 

This is really a great website noted by Richard Newmark on July 17, 2000

The URL below contains a comprehensive comparison of course management tools. They use a standard format for each package to facilitate comparison. 

Richard Newmark [rnewmark@ODU.EDU

This history of many of these tools is given at 

To read a press release on Toolbook Version 7.2, please see: 

The newsletter 

Want more speed, power, convenience and fun? Take your pick of 50 free popular Internet downloads. --- 

Whistle While You Work!

In his keynote Wednesday at Microsoft's Professional Developers Conference, Bill Gates provided insight into the next two Windows releases, and debuted the final release of Internet Explorer 5.---,11011,2602347,00.html   

The successor to Windows 2000, code-named Whistler, is due during the second half of 2001, several months later than Microsoft had anticipated at the start of this year. Blackcomb, the successor to Whistler, is due out in the second half of 2002. In both releases, the Internet Explorer browser will become more fully integrated and more central, Gates said.

Whistler, a pre-alpha build of which Microsoft is demonstrating on the PDC show floor, will offer developers and customers a first taste of how Microsoft is incorporating its .Net technologies into its system software. Gates told attendees that Whistler will allow users to save files out to a "Microsoft community site" on the Internet. Whistler will also include technology that will allow users to create a single personalized identity, which they will be able to authenticate across web sites.

The Teaching and Curriculum Section is pleased to announce that the Summer 2000 edition of The Accounting Educator, the Section Newsletter, is available on the T&C web site at: 

You may want to especially note the papers listed at 

Online Investing -- 

Also see (Click on Financial Markets and Investing)

CEO Steve Ballmer gets down to specifics on how the company's new .Net initiative for managing personal
information on the Web will eventually play out. 
Plus: Catch the newest Windows 95/98/NT downloads at 

John Taschek says "The Second Coming" is an idealistic wish list for what computing could and should be in the near future. 

It is frustrating how many articles on the web provide fake or misleading "facts."  I received two messages this week telling about how Mel Gibson (the famous actor) was beaten so badly as a young man that he became a man without a face and had to take years to reconstruct his teeth and face.  It is about 95% fake, a ("Glurge") story that is falsely attributed to Paul Harvey.  This illustrates how easy it is to be misled by believing what you read on the net, especially when the story uses real names or real people from real life.  In days of old, a journal editor probably would have verified the story.  In the web era, there often is no editor verifying the truth of documents on the web.  I understand that there is a grain of truth in the following article, although the actor involved was not beaten to the degree implied by the article.  For more details see "The Glurge Without a Face" at 

"Highlights of Women's Earnings in 1999" --- 

Between 1979 and 1999, earnings for women ages 20 to 64 grew closer to their male counterparts’ earnings. The women’s-to-men’s earnings ratio among 35- to 44-year-olds, for example, increased from 58.3 percent in 1979 to 71.7 percent in 1999, and that for 45- to 54-year-olds rose from 56.9 percent to 70.1 percent. The earnings ratio for teenagers and the ratio for workers age 65 and over showed no definitive trend over the period. (See table 13.)


The earnings difference between women and men was widest for whites, with white women earning 75.7 percent of what white men did. Among blacks, women earned 83.7 percent of what men earned, and Hispanic women made 85.7 percent of Hispanic men’s earnings. (See table 1 and chart 2.) • Between 1979 and 1999, inflation-adjusted earnings for white women increased 22.0 percent, while black women’s real earnings rose 12.4 percent.1 Earnings for Hispanic women were little changed over the period. (See table 14.)


In Table 3, the median weekly earnings for accountants and auditors shows $651 for women and $891 for men.

Women shattering the glass 
From NewMedia [] on April 18, 2000

Women in Management: Breaking the Glass Ceiling?
A new study finds the number of women in top management positions at 
high-tech firms doubled last year from the previous year. But how many
are CEOs? That's another story.

Women Partners Gaining Ground at Top Firms ---  

"XML's Grand Schema XML Schema Language is a powerful feature that can be used to validate data in myriad ways, and save you time in the process" by Yasser Shohoud at
This is a good review article dated in Summer 2000. 

You can read more about XML and XBRL at 

A free online journal
Learned Publishing --- 

Association of Learned and Professional Society Publishers. ALPSP represents the interests of all those involved in the publication of academic and professional information in all media. It was formed in 1972, as an association of learned and professional organizations involved in publishing. ALPSP provides information and advice to members, both individually and via an e-mail discussion list. The Association publishes a quarterly journal, Learned Publishing (now also available online), and an electronic newsletter, ALPSP Alert. It runs a full programme of seminars on issues of current concern and a series of training courses. ALPSP also monitors national and international issues and represents the interests of members to the wider world.

Collective Bargaining Information Sources (Labor, Management) 

FEI Share Repurchase Study --- 

Frequently asked questions about share repurchase programs --- 

"Students Flunk U.S. History Test: Congress Calls on Teachers to 'Redouble Efforts'" 

The cow parade (including great cows and the history of cows) --- 

GreenBiz (business, environment, ethics, social accounting) --- 

Good fences make good lawyers (Lawyers want global internet borders defined) ---,1283,37619,00.html 

Lawyers Wrestle With Online Privacy
BY Tamara Loomis in the New York Law Journal Thursday, July 13, 2000 

Tools for the young wired woman.--- 

Microsoft's Frontpage did not entirely kill off HotMetal Pro --- 

We pulled out all the stops with HoTMetaL PRO 6.0. It features enhanced WSFTP 6.0 and award winning remote file editing features, improved source editing and authoring aids, and great bundled software to help you create great Websites more quickly with more control. Plus, we've also just added even more exciting new features, functionality and extras as a direct result of customer requests. Including:

* A Site Setup wizard to help you publish your sites to the Web 
* 'Local' Publishing for publishing sites on your network 
* The full version of PhotoImpact 4.2 from Ulead 
* Site tracking/stats, banner exchange wizard and other tools from


The upgrade site is at 

Customized greeting cards --- 

From Jagdish Gangolly on July 19, 2000

A security alert issued by the cooperative research and education group states that users are vulnerable to a total compromise when they preview or read an infected E-mail--without having to open any attachment--if they're running any of the affected operating systems and have Microsoft Access 97 or 2000, Internet Explorer 4.0 or higher, including version 5.5 that ships with Windows 2000.

According to the institute, the exploit was first discovered June 27, but Microsoft requested that SANS not release the details of the vulnerability until the company developed a fix. Microsoft posted a workaround on July 14 that is available at Users running systems with Outlook, Outlook Express, Eudora, or any mail reader that uses Internet Explorer to render HTML documents are also vulnerable to this exploit through E-mail.

According to the SANS advisory, a hacker could get into Microsoft Access using ActiveX controls without the victim knowing that it's happening. "This is a very serious problem," says Forrester Research analyst Frank Prince. "Anyone with Visual Basic knowledge could potentially send an E-mail -- that doesn't have to be opened--and give the hacker complete access to the user's system."

The SANS website is at 
The solutions known to date are at 

CNET Digital Photo Center --- 

Theatre History on the Web 

New York's Museum of Television & Radio --- 

From the AccountingStudents Newsletter: July 11, 2000

STUDENTS SHARE THOUGHTS ON E-TEXTBOOKS Many responded to an inquiry in last week's newsletter: Why are e-textbooks so unattractive to accounting students? Here's what some of you had to say:

"With a real live book, the student can highlight certain passages, run their finger down the pages, and keep it close and handy while doing problems."

"Personally, I favor traditional textbooks because you can get comfortable in a recliner with them."

"Students without their own computers find e-books extremely inconvenient and many just don't like to read on the computer."

"The expense of printing your own text would be similar to the actual cost of the book."

"There's just something sacred about being able to highlight the important parts."

"I stare at a computer all day at work. The last thing I want to do is read a book on the thing! Besides, a tangible printed textbook is much more reliable than a computer ever will be!"

For Bob Jensen's Threads on Electronic Books see 

An Internet computer for under $200 --- (marketing) --- 

From the Scout Report on July 11, 2000 [free registration required] 

Describing itself as "a single, comprehensive destination for legal information, e-law services and legal products on the Web," this Website offers law students, legal professionals, business firms, and the general public news and information on the law. Lawyers will find here such items as the complete text of the latest edition of the _American Lawyer_ with its listing of the top 100 law firms in the country. Law students can take advantage of features about schools, transferring, and recruiting, as well as links to professional associations. Businesses can find news and analysis of recent issues in business law as well as updated, annotated links to business law sites. For the public, the site offers news and analysis on prominent legal issues, such as recent Supreme Court decisions and the Wisconsin suit against the EPA over formulated gasoline. In addition, an online _Real Life Dictionary of the Law_ gives accessible definitions to over 3,000 common legal terms. The search engine for the site draws on a surprisingly extensive archive -- for instance, we received more than 350 returns for "bankruptcy" -- making this site also a manageable resource for legal research, especially for practicing lawyers, journalists, and the general public. While this is a commercial site offering to sell law books, pamphlets, multimedia materials, and various online services, there is a considerable collection of free materials for users.

Sport's greatest heroes --- 

City Guides (they're great) --- ----

You can get many travel links at 

Where can you see interesting stones (archaeology-wise) --- 

Lizards --- 

The July 16th edition of the Internet Essentials 2000 Newsletter --- 

1. XBRL in Chicago....Major Changes about to Sweep Through the Accounting and Finance Professions 
2. Microsoft.Net Update; SOAP Cleans Up 
3. Cybiko: Hand-held Instant Messenger & File Transfer Update 
4. Security is a Constant Concern...... 
5. XML's Grand Schema 6. Know Your Football? Win $20 Million

A college student had to do a paper on cultural differences in human behavior.  She tended bar on the side and conducted an experiment in the pub.  When she poured beer drafts at different times, she placed a live grasshopper in the foam at the top of the glass.

An Englishman stuck out his tongue, paid his tab, and left the pub without taking another sip.

An Australian savored the crunchy hors d'ourve downing the pint in three swallows.

An Irishman squeezed the hapless grasshopper over the edge of the glass.  He then grumbled "Now you little bugger, spit it back out."

Forwarded by Bob Overn

Some years ago, I saw 100 white men chasing after 1 black man. They belonged to the Ku Klux Klan.
Today, in the year 2000, I again saw 100 white men chasing after 1 black man.  They belonged to the PGA.

Forwarded by Michelle Bushey:

1. Before you criticize someone, walk a mile in his shoes. That way, if he gets angry, he’ll be a mile away - and barefoot. 

2. A clear conscience is usually the sign of a bad memory. 

3. If you must choose between two evils, pick the one you’ve never tried. 

4. My idea of housework is to sweep the room with a glance. 

5. Not one shred of evidence supports the notion that life is serious. 

6. It is easier to get forgiveness than permission. 

7. I have found at my age going bra-less pulls all the wrinkles out of my face. 

8. For every action, there is an equal and opposite government program. 

9. Age is a very high price to pay for maturity. 

10. A closed mouth gathers no feet. 

11. If you look like your passport picture, you probably need the trip. 

12. Always yield to temptation, because it may not pass your way again. 

13. Bills travel through the mail at twice the speed of checks. 

14. A conscience is what hurts when all your other parts feel so good. 

15. Eat well, stay fit, die anyway. 

16. Men are from Earth. Women are from Earth. Deal with it. 

17. No husband has ever been shot while doing the dishes. 

18. A balanced diet is a cookie in each hand. 

19. Middle age is when broadness of mind and narrowness of waist change places. 

20. Opportunities always look bigger going than coming. 

21. Junk is something you throw away three weeks before you need it. 

22. There is always one more imbecile than you counted on. 

23. Artificial intelligence is no match for natural stupidity. 

24. Going to church doesn’t make you a Christian any more than going to a garage makes you a mechanic. 

25. Experience is a wonderful thing. It enables you to recognize a mistake when you make it again. 

26. By the time you can make ends meet, they move the ends. 

27. Thou shalt not weigh more than thy refrigerator. 

28. Someone who thinks logically provides a nice contrast to the real world. 

29. I believe the only time the world beats a path to my door is when I’m in the bathroom. 

30. Blessed are they who can laugh at themselves for they shall never cease to be amused.

Here are ten stupid questions IT people around the world hear
every day. Or, to see a list of fifty equally crazy questions, link
through to

"When it says 'click the right mouse button' do they mean MY right or

"Why would I want to backup when I'm making such good progress?"

"Does email get delivered on holidays?"

"I've  been  sitting  here pushing the HELP key on the keyboard for 2 hours!
 Why has no one come to help me yet?"

"Why are all websites made by 'Dot Com?'"

"Why won't the printer print if the 'paper' light is blinking?"

"Where's the 'ctrl-alt-delete' key?"

"Can you help me find my document? I don't remember what I named it."

"You  mean  that  this  program (Excel) could have done all the calculations
 for me?"

"Why do stars come up when I put in my password?"

The police are after computer addicts --- 

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

And that's the way it was on July 19, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


July 12, 2000

Quotes of the Week:  

Seven Deadly Sins:  
     politics without principle; 
     wealth without work; 
     pleasure without conscience; 
     knowledge without character;
     business without morality; 
     science without humanity; and 
     worship without sacrifice 
E. Stanley Jones as quoted on L.M. Smith's course syllabus at 

The search for new revenues sends increasing numbers of universities to contract with corporations to provide continuing education for their employees. The University of Michigan's College of Engineering, for example, arranges with the university's Transportation Research Institute to provide week-long minicourses each summer to keep Ford's engineers up-to-date on advances in computer-aided design. This is just one of many new cozy relationships between higher education and industry.
Vision 2010 at 

Quotes from Wired at 

Imagine scooping up heaps of Lego blocks, but with boxing gloves on your hands. Nanotechnology will let us take off the boxing gloves, and arrange the fundamental building blocks of matter in exactly the way that we want.
Ralph Merkle
For more on this nanotechnologies, see "Fears That Machines Control Accountants and All Other Humans" at 

If you could send a time capsule back 20 years, what artifacts would you choose?
Douglas Coupland

Scenarios can (when done well) be like a Tibetan army knife with a patented mind opener.
Paul Saffo

Workers of the world, relax.
Paul Saffo

Updates on accounting for derivative financial activities and hedging activities according to Financial Accounting Standards Board's FAS 133 and 138 in the U.S. and IAS 39 and Exposure Draft E66 from newly revised International Accounting Standards Committee.  

I have a draft paper entitled "The Theory of Interest Rate Swap Overhedging" at 
This is a very rough start on developing this theory.  I would appreciate any feedback you can give on this paper.

I have a rough draft commentary on the new FAS 138 amendments to FAS 133 on Accounting for Derivative Financial Instruments and Hedging Activities.  My FAS 138 commentary is at 

The older link to my FAS 133 introduction (with audio clips from experts) is at 

I have also updated my FAS 133 Glossary for some of the FAS 138 amendments.  In particular, note the terms "Benchmark Interest" and "Foreign Currency Hedge" at 

The Journal of Accountancy has a July 2000 article that you can read at 

The FASB provides some new examples illustrating the FAS 138 Amendments to FAS 133 at 

This topic is hot right now, because calendar-year companies must implement the standards beginning on January 1, 2001.  These are the most complex and confusing accounting standards ever issued by a standard setting body.  By now most of you know that the FASB has already published the FAS 138 amendments of FAS 133.  The IASC has an E66 Exposure Draft containing "Proposed Limited Revisions of IAS 39."  You can download E66 from  If you are attending the American Accounting Association meetings in Philadelphia, the IASC's Project Director, Paul Pacter, will be presenting an IAS 39 and ED66 module in CEP Workshop 34 as described at 

In addition, I have added two foreign currency swap hedging cases (with solutions) to the listing of my online cases at two cases deal with overhedging and underhedging controversies in FAS 133.  Carl Hubbard and I are also working on a cross-currency swap case that will be available in few weeks.  The FAS 138 amendments make it possible to receive hedge accounting treatment of cross-currency swaps (this was not possible in the original FAS 133).

Those of you who downloaded my overhedging case (Working Paper 288) should download fresh copies and Excel workbook files.  I corrected some typos!  For link information, go to

Hi Piero,

I did not forget your request. I have prepared summary statements of both FAS 133 and its FAS 138 Amendments.

The FAS 133 Introduction (with MP3 audio clips is at 

The FAS 138 Introduction and Summary of Key DIG issues is at 

Hopefully, readers will give me feedback on both typos and issues of substance.

Bob (Robert E.) Jensen

-----Original Message-----

From: Piero Cabrera [mailto:pierostud@YAHOO.COM]
Sent: Sunday, June 18, 2000 8:58 PM
Subject: Re: Pay Careful Attention

Ok, guys,

So when are we going to discuss the new additions that this FASB has bring to us?

Or maybe a brief comment or summary about what are main focus around this new FASB, besides what we know from the origin (FASB 133).

Thanks for your comments,
Piero Cabrera


> Mail CPAS-L subscription changes to: > LISTSERV@LOYOLA.EDU

I added a new section on FAS 133 software and consulting at 

Please contact me if you hear of new software available or online consulting that is available.  My email address is 

CPAnet News About  Financial Instruments

Although I never receive fees for "advertising" a product or service on my website, I am disclosing the following promotional news about FAS 133 consulting from Kamakura.  Kamakura has a rather unique "send in your data" consulting.  In particular, I call your attention to the FAS 133-sytle of consulting from Kamakura. It seems to operate similar to what big accounting firms do internally with their own partners and managers.  See 

If you find similar online FAS 133 or FAS 39 software and consulting services, I would love to thread these together for readers.  I added a new section on FAS 133 software and consulting at 

Kamakura recognizes that many financial institutions and corporations need risk management results without the expense and bureaucracy associated with the purchase, installation and operation of a third-party risk management software system.

Kamakura On-Line Processing Services (KOPS) was launched in June, 2000 with a number of special features that make KOPS by far the best way to get professional risk management analytics with a minimum of expense:

§         You can send us data in your format, not ours. We’ll do the rest.

§         We send you the results in your format, not ours.

§         We offer next day turn-around time for regular KOPS users and real-time capability on request.

§         There is no limit, large or small, on the number of transactions we can process.  We have clients processing many millions of transactions.

Who Should Use KOPS for Risk Management Processing?

Many institutions would benefit from using KOPS either on a one-time basis or on a regular basis:

§         Institutions who need to provide certification for Financial Accounting Standard 133 (FAS 133) but don’t have the time, staff or software to do so on their own

§         Institutions who are considering a merger and need risk analytics for due diligence purposes

§         Institutions who are currently relying for valuation on third parties with a conflict of interest, like securities dealers who sold the transactions being valued to the institution

§         Institutions who are too understaffed to operate third party risk software themselves

§         Institutions who are interested in Kamakura’s world-famous risk analytics but who would like to see the quality and breadth of the Kamakura Risk Manager software system in operation on their data before making a purchase decision

§         Institutions who are too busy to map data to conform to someone else’s specifications

§         Institutions who would like to have some of the world’s best risk managers overseeing their risk analytics without paying their salaries

§         Institutions who face a difficult risk management issue internally that would benefit from a third-party analysis

§         Institutions who need a third-party “audit” of valuation, value at risk or net income simulation produced by internal staff

§         Institutions who need an “audit” to check some other third party software package

Why Use Kamakura Instead of Another Application Service Provider?

Kamakura is the most reliable risk processing service provider for many reasons:

§         The quality of the numbers matters.  We have analytics overseen by Professor Robert Jarrow, 1997 IAFE Financial Engineer of the Year

§         We make the software that does the work.  We don’t have to rely on a third party to produce analysis for you.

§         We’ve worked for all five of the five largest banks in the world.  We’ve advised on the resolution of the Orange County incident.  We’ve helped straighten out a $500 million derivatives dispute. We’re not just a pretty web site.

§         We make it easier. Just send us your data and we’ll do the rest.

§         We produce the information that others use to drive their risk analysis.  See our Kamakura Risk Information Services for more information.  Even the faculty in the Economics Department at Harvard University uses Kamakura information for research.

§         You know us and so do your regulators and your Board of Directors. We’ve written six books and 100 academic articles.

Hi Susan,

I took a look at the website you suggested.   It appears to be a good Value at Risk (VaR) site, but I could not find material on FAS 133.  There are some great links to teaching material at and some great resource links.  But even here I found the material more of interest on VaR and finance rather than FAS 133.

If you find some good links to FAS 133 software or FAS 133, FAS 133 teaching materials, or FAS 133 online consulting please let me know.

You may also be interested in the FAS 133 software available at 

Bob Jensen

I need to read info about the Kamakura site. It sounds like they are an application service provider. You might find the following site of interest. 

Mangiero, Susan (CORP) [

Some SEC news about  FAS 133

Hi Bob,

I know that a company was required to restate its financials because it did not have hedge documentation prepared at the time it started using FAS 133. Therefore, its derivatives should not have been given hedge accounting treatment. In an audit, the SEC determined the documentation was not prepared until well after the beginning of the quarter, although the company used hedge accounting from the beginning of the quarter. The SEC required the company to restate its financials treating the derivatives as speculative instruments from inception until the hedge documentation was complete, then using hedge accounting thereafter. I don't believe I have heard the company's name. I assume one could search EDGAR for restatements/amended 10-Ks/Qs filed since July 1, 1998 (really shouldn't be any filings until September 1998 at the earliest) and find a company that restated due to FAS 133 problems, and identify company that way.

Walter Teets [

******Original Message

Dear Mr Jensen,

Thanks for your site on FAS 133. It is the best site I have seen on the net to date.

I am a partner in the Melbourne office of Deloitte and would appreciate a copy of your case studies on FAS 133. I would also appreciate if you could advise the name of the US company that was forced by the SEC to change its accounts.

Best regards

John Kidd

Note from Bob Jensen:  John Kidd eventually answered his own question.  The name of the company is shown below.

ADOPTION OF DERIVATIVES ACCOUNTING STANDARD In the fourth quarter of 1998, the Company adopted Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities." Pursuant to this new standard, all of the Company's derivative instruments, including its fixed-price commodity contracts, are recognized as assets or liabilities on its balance sheet, measured at fair value. Adoption resulted in an increase to stockholders' equity of approximately $103 million as the result of recording the estimated fair value of the Company's derivatives and the reclassification of deferred hedging gains, both adjusted for related deferred income tax effects.

1999 Subsequent Announcement

Louis Dreyfus Natural Gas Corp. (NYSE: LD) today Reported restated financial results for the fourth quarter of 1998 and the first and second quarters of 1999. The change in reported financial results was a consequence of a review of the Company's early adoption of Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities" by the Staff of the Securities and Exchange Commission, in connection with the Staff's review of the Company's recent shelf registration statement and related consolidated financial statements. As a consequence of the review, the Company has reclassified gains attributable to the change in the value of certain fixed-priced contracts from October 1, 1998 to January 13, 1999, to results of operations. The Company had previously reported this change in other comprehensive income, shown in the Company's statement of stockholders' equity, with no impact on revenues or expenses. The reclassification of these gains reduced the reported net loss for 1998 to $43.3 million, or $1.08 per share, from the net loss of $52.6 million, or $1.31 per share, previously reported. For the quarter ended March 31, 1999, the reclassification of contract gains resulted in net income of $.2 million, or $.00 per share, compared to the previously reported net loss of $4.2 million, or $.10 per share. For the quarter ended June 30, 1999, the reclassification resulted in net income of $2.8 million, or $.07 per share, compared to the previously reported net income of $3.5 million, or $.09 per share. The effect of the restatement on the Company's balance sheets and statements of cash flows was immaterial.

WHY RESTATEMENT WAS NECESSARY These changes in reported financial results were necessary due to the SEC Staff's interpretation of the documentation provisions of SFAS 133.

The standard requires that: · all hedging designations and the methodology for determining hedge ineffectiveness be documented at the inception of the hedge: · and upon the initial adoption of the standard, hedging relationships must be designated anew. · The documentation must also indicate the risk management intent for entering into the hedging arrangement. · The Company and its independent auditors believed that it complied with the documentation provisions of the standard. The SEC Staff, however, disagreed. The SEC Staff's position precluded the Company from being able to utilize the special provisions of hedge accounting until after January 13, 1999, the date on which certain additional SFAS 133 documentation was completed. For periods subsequent to January 13, 1999, documentation is in place to qualify the Company's fixed-price contracts for hedge accounting

A great listing of links on options, derivatives, futures and commodities --- 
Not much about FAS 133 in this site.

Using the Internet for Accounting Research --- An Interview With Jim Kaplan 

Neil Hannon summarizes Kaplan's remarks as follows at 

 Many auditors and accountants: 
[Jim Kaplan] Use the wrong search strategy 
[Jim Kaplan] Do not look in the right places
[Jim Kaplan] Use the wrong tools for the search 
[Jim Kaplan] Use the wrong words to structure the search query 
[Jim Kaplan] and are not using meta-information effectively 
[Jim Kaplan] While the information is probably out there somewhere is cyberspace it is useless unless you can 
      find it when you need it. Search skills represent the key to unlocking information contained on the Internet. 
[Jim Kaplan] There are several different strategies for finding information on the Internet. They include the
      hyper-search strategy, the Sherlock strategy, the directory strategy, and the search engine strategy.

If you know any accounting educators with helpful materials on the web, please ask them to link their materials  in the American Accounting Association's Accounting Coursepage Exchange (ACE) web site at
Please send these professors email messages today and urge them to share as much as they can with the academy by easily registering their course pages with ACE.

ACE Course of the Week --- David Spiceland's graduate level Advanced Accounting Theory 

Thank you David for sharing your cases with the world.

I found the online "Classroom Files" in A325 Management Accounting in the Graduate School of Business at Stanford University.  The course is taught by Antonio Davila.  The web link is at 
Some Excel files are included.

The Duke University Global Executive MBA (no longer called GEMBA) program is one of the most successful and prestigious online degree programs in the world.  You can read the following at 

The Duke MBA - Global Executive (formerly GEMBA) is an innovative master's degree program offered by The Fuqua School of Business for executives and high-potential managers of global corporations. Thanks to a unique format that combines multiple international program sites with advanced interactive technologies, Global Executive students can work and live anywhere in the world while participating in the program

Now Duke has also launched its Cross-Continental MBA program as described at 

The Duke MBA - Cross Continent program allows high-potential young managers to earn an internationally-focused MBA degree from Duke University in less than two years utilizing a format that minimizes the disruption of careers and family life. The inaugural Cross Continent class will be enrolled in August 2000. Two class sections will be enrolled concurrently: one will be based primarily at the Durham, NC campus of Duke University's Fuqua School of Business, and the other in Frankfurt, Germany at The Fuqua School of Business Europe. Ongoing classes are held through the use of interactive communications technologies. Students will attend nine weeks of residential sessions (8 one-week sessions plus a week of orientation), mostly on their primary campus, with at least one session on the other campus. Students will complete 16 courses (48 credit hours) over the course of the 20-month program.

These are the first 10 FAQs about Duke University Global Executive MBA (no longer called GEMBA) program as given among other FAQs at 

Q1. How is the Global Executive program different, in terms of academic content, from other Executive MBA programs (e.g., weekend EMBAs)? What makes it global? A1. The Duke MBA - Global Executive is every bit as academically demanding as Duke's other two MBA programs. Global Executive uses the same faculty base, the same rigorous grading standards, and provides the same Duke degree. However, the content has been adjusted to include more global issues and strategies to serve a participant population that has far more global management experience. Like most other Executive MBA programs, the Global Executive program is a lock-step curriculum, meaning that all students take all courses. The courses are targeted at general managers who have or will soon assume global responsibilities. The program is designed for those who want to enhance their career path within their existing company. International Residencies: See Q8 Global Student body: Unlike traditional Executive MBA programs which usually have a regional draw, the flexibility of Global Executive accommodates a student body from around the globe. Not only are the students diverse geographically, but they are also diverse in the types of global management experiences that they bring to the classroom.

Q2. How accessible is the faculty on-line? A2. Faculty/student contact is actually significantly greater in Global Executive than in other Executive MBA programs due to the 24 hours/day, 7 days a week nature of Internet mediated learning. In addition to weekly real-time office hours, faculty monitor class and team bulletin board discussions and respond to e-mails on a regular basis. Faculty vary in availability, usually due to the subject matter and other teaching/research commitments. However, you can expect that, on average, faculty will respond within 24 to 48 hours.

Q3. What is the purpose/value in having international residencies? A3. International residencies are an important ingredient in a global MBA program as they add to the value and richness of the classroom component by providing various lenses (social, economic, cultural, etc.) through which to view various economies and systems. Instead of simply studying about an economy, Fuqua provides an experiential component which adds value to the learning experience that cannot be duplicated in Durham. This is accomplished using a variety of means, including visiting regional companies, having regional speakers, bringing in company representatives to supplement case discussions, and simply by experiencing the region outside of classroom time. Additionally, being away from job responsibilities and family in an unfamiliar culture also helps build the intimacy and team spirit of the group. Oftentimes, Global Executive students who reside in the residency location act as hosts and expose the class to experiences and cultural insights that the average tourist would not encounter.

Q4. Can group or individual projects be done that are directly related to the sponsoring the company? A4. There are several opportunities to work on issues facing your company, although it is important to note that these opportunities vary depending on the professor and the course. For instance, one course may ask your learning team to analyze some aspect of a corporation; if your corporation has challenges that interest your teammates, you may be able to persuade your team to focus on your company. Another course may ask you to write analyses based on your experience within your corporation. Regardless of the specific project, the courses are designed so that you can implement course materials in your daily work within a reasonable amount of time.

Administrative Q5. Given the rigor of the program and the necessary time commitment, how do I fit this into my life? How are current Global Executive students handling it? A5. The Global Executive program will definitely require some prioritizing in your life. When deciding to apply to the Global Executive program, you need to make sure that those around you--your spouse, family, and co-workers--understand the commitment you've made and support your undertaking. Some companies help to alleviate workload by providing their employees with additional support (e.g., staff support, time off), but most Global Executive students see no relief in their responsibilities. Global Executive students vary in how they handle the Global Executive workload (e.g., some may do school work all weekend, some may set aside 3 hours every day). The important point is that you need to find a routine that works for you and for your team and stick with it.

Q6. Do I have to attend all of the residencies? A6. Yes, attendance at all of the residencies, for the entire residency, is a requirement.

Q7. Can I use my own laptop during the program instead of the one that the program provides? A7. The Global Executive program provides each student with an IBM ThinkPad, all of the program software, and technical support. In order to provide the necessary technical support, it is imperative that everyone be on the same platform. If you are using different hardware, we cannot provide assistance. A well-maintained laptop is critical to the distance learning component of Global Executive. The Fuqua School of Business Distance Learning specialists maintain, upgrade, and trouble-shoot Global Executive laptops during each residency. Some students have decided to purchase an additional hard drive in order to use the ThinkPad for work and Global Executive. Upon graduation, the ThinkPad becomes the property of the student.

Q8. How good/reliable does my Internet access have to be? A8. In order to be a solid contributor to your team and to the program, you should be able to connect to the Internet for at least 45 minutes at a time for a total of at least five hours per week.

Admissions Q9. How technologically savvy do I need to be to succeed in Global Executive? A9. During your first residency, we provide an extra week for orientation. Part of this orientation focuses on getting students comfortable with understanding and using the technology. Most students are familiar with word processing, e-mail and the World Wide Web, but many have not been exposed to spreadsheets, electronic bulletin boards, chat rooms, and messaging services. There is a wide range of computer skills among the Global Executive students, but we recommend that you have some basic skills on the computer (e.g., EXCEL, Word, PowerPoint) to succeed in Global Executive.

Q10. What "type" of student are you looking for? A10. Although each applicant will be assessed on his/her unique qualities, here are some characteristics that the admissions committee looks for in a Global Executive applicant:

Minimum of 10 years work experience Soon to be or already involved in significant global job responsibilities An enthusiasm, inquisitiveness, and commitment to assure success in an intellectually challenging global learning endeavor. Quantitative aptitude and the intellectual ability to complete a rigorous graduate degree program at Duke University Highly proficient in English A clear understanding of the commitment required to succeed in Global Executive.

More Duke FAQs  at 

Are some online education programs, even prestige programs, scams? 

What is so important about the prestige of the logo versus accreditation of online programs?  

For the rest of the story, two threaded links are shown below:

Prestige Program Threads: 

Online Program Threads: 

What is the leading research study on the cost of developing an online program (including a spreadsheet that you can use in your own institution)? 

Preparing Future Faculty --- 

A great set of links on the future of education ---  

What's new and remarkable in online educational technologies? --- 

Equilibrium Dialysis Experiment from the University of Toldeo

The Interactive Patient at Marshall University

Writing Classes on the WWW

Education Program for Gifted Youth at Stanford University

CyberEd at the University of Massachusetts at Dartmouth

Virtual Online University

Some links to serious research on the future of education and the future of living (from top university sites) --- 

For example see The HomeNet Project from Carnegie-Mellon University at 

There have been three HomeNet studies thus far: a 1995-96 study involving 93 families in Pittsburgh involved in school or community organizations, a 1997-99 study involving 25 families with home businesses, and a 1998-99 study involving 151 Pittsburgh households. Our findings show the variety of ways people are domesticating the Internet--turning a technology invented for scientists and elaborated for electronic commerce--into a household feature. People use the Internet for pleasure: to communicate with family, friends, and strangers; to track sports and popular culture; to listen to music; to play games; and to pursue specialized interests. These pleasurable uses supplement and, for many people, are more important than the practical uses of the Internet for jobs, school, and shopping.

Despite the newness and excitement surrounding the World Wide Web, the killer application on the Internet is still interpersonal communication. Electronic mail use is more popular than use of the Web, more stable, and drives greater and more lasting use of the Internet overall. One reason is that email sustains ongoing dialogues and relationships. In contrast, the Web has more bounded uses, in which information gathering, for example, for school assignments, purchase decisions, or paid employment is satisfied with one or a few visits. In the abstract sense, this is an argument that the Internet is a social and emotional technology, and that it sustains social networks.

Even though interpersonal communication is the most important application of the Internet for most people, our research has shown that extensive use of the Internet may have negative social consequences.

Greater use of the Internet is associated with declines in the size of participants' social networks, declines in communication within the family and, for teenagers, declines in social support. Greater use of the Internet is associated with increases in loneliness and symptoms of depression. These declines are especially strong during the first years online, but may drop or even reverse with time or as the services available on the Internet improve. Our current research examines the conditions under which Internet use expands users' social support.

From New Zealand:  Universities for the Future --- 

The role and structures of tertiary institutions is currently being debated in New Zealand. At the national level we are still coming to terms with relationships between the various tertiary institutions which have proliferated in a more deregulated framework, funding for these, new qualification structures, and are still very divided and perhaps unsure about what they are supposed to be delivering as education outputs.

This debate about tertiary institutions is world wide and Dr Sohail Inayatullah in his address recently at a New Zealand Futures Trust seminar in Wellington gave an idea of some wider issues that we need to be aware of when considering viable options for future New Zealand tertiary institutions.

Diversity University MOO --- 

Diversity University Main Campus is extraordinary and unique as the first MOO to be designed specifically for classroom use. DU Main is a project of DUETS, Inc., which is a 501(c)(3) non-profit educational organization dedicated to meeting the on-line distance education learning needs of individuals and institutions. Diversity University Main Campus is a real-time internet accessible virtual reality educational environment. Thousands of students, teachers, and administrators worldwide use DU classes, literature, and consulting services. DUETS, Inc. financially exists as do other non-profit organizations via grants, technical assistance fees, and philanthropic donations. Frequently our staff and administrators assist and maintain other educational virtual reality worlds. The Development team of DUETS, Inc. combines more than four years of in depth full-time professional experience coupled with hundreds of thousands of design hours specifically for an educational MOO.

Finding Colleges, College Rankings, Financial Aid, and Online Programs

Bob Jensen's College Finder Helpers --- 

Guides to Distance Education Courses and Programs --- 

Zapme is a great helper site for finding colleges, financial aid, college rankings, admissions help, etc. --- 

 Common Application - The common application is one of the most helpful tools in the college application process. One hundred and ninety one colleges accept the common application, giving it the same weight as their own application. Some of them will even let you apply online. By using this site, you can buy yourself the time to perfect your application.
 US News & World Report: .edu - This site features all sorts of information relating to the college and graduate school search. You can find out where to get financial aid, search for scholarships, and take a look at the yearly school rankings. There is even an option that allows you to compare two schools head to head. Whatever you need in your college search, this site can make it easier. Developed by U. S. News and World Report.

School listings ---

Online Banking Gets Messier by the Minute 
By Jason Black
InternetWorld News on July 5, 2000

Citibank, it was revealed last week, will close its Net-only bank and transfer those customers to its regular banking service; Toyota recently announced it has high hopes for a Net bank of its own. Confused? Welcome to the world of e-banking, a place whose future is extremely bright or bleak depending on whom you talk to. One study, issued last week by Credit Suisse First Boston, reports positive signs: Although 20 of the top 100 banks -- including the Bank of New York -- still do not offer online banking to their customers, the customer base is growing at the ones that do. "In the six or seven months since we last did this study, the median Web-banking penetration rate is up to 6 percent," said Jim Marks, director of equity research at CSFB. In CSFB's last study, the median of banking customers using the online capabilities that were offered was only 3-to-4 percent. Given that it took four years for online banks to reach a user base of that level, a doubling in six months gives Marks room for optimism. "Despite the overall numbers, there is a glimmer of hope for improvement here," he said.

A less rosy outlook comes from the eBanking Report issued by eMarketer in late June. Paul Mulligan, banking analyst at eMarketer and author of the report, says that the success of online banking is being held back by four false premises that underscore the industry: 1.) Retail banking is the same as retail commerce; 2.) Because online trading is working, online banking will also; 3.) Internet banking is convenient; and 4.) The affluence of Internet users means profitability for online banks.

The fact that Citibank is planning to discontinue its Net-only banking option is all the proof Mulligan needs that online banks are built on shaky foundations: "That announcement sealed it for me that Internet-only banking is not going to work in the United States." Mulligan believes the Internet should not be viewed as a standalone business for banks, but rather as a distribution channel, like an ATM or an 800 number. Regarding Net-only banks, CFSB's Marks would probably agree with Mulligan; Marks thinks the assumption that these institutions can operate less expensively online is flawed. "The fact is that banking is a relationship business not a transaction business," Marks said.

As far as Toyota's chances, Mulligan thinks the company could have an interesting strategy that ties in to its consumer loan offerings. But Toyota is entering a landscape already populated by brand-name corporations, including the convenience store chain 7/11. The advantage for the Slurpee retailer is that its stores can become de facto bank branches complete with ATM machines, which should serve as a complement to its online offerings, Mulligan said.

Both Mulligan and Marks agree that people who are banking only online are doing so because of the higher interest rates they can find, not because it happens to be available on the Internet. As a result, customers will hop from one online bank to another in search of the best rates, without any sense of loyalty to the institution.

"A bank does not become -- or stay -- profitable by having a customer for six months," Mulligan said. "It takes a while to develop profitability with any customer."

So what could turn things around for online banking? According to Marks, it is the ability to conduct online bill payments, which he says is the only real benefit in the form of greater convenience that banks have to offer online for their customers. However, only three of the banks that were surveyed by CSFB currently have more than 4 percent of their customers using online bill-payment services.

"This is lower than previous surveys and presents a clear and present danger for banks," Marks said. And why is the number for online bill payment so low? Because banks aren't advertising these services. Even though it only costs between $2 and $5 per customer per month to offer online bill payment, Marks said, "banks don't want to eat that cost themselves."

This practice, to Marks, means lost business. "If the corporation were smart, it would have systems in place to determine which customers now or in the future were doing enough business that the company should be eating the cost," Marks said. "Unfortunately, most banks cannot gauge a customer's profitability accurately enough to make that determination."

It appears that any scholar can submit to this listing. Having looked at the examples, I think it is a great idea even though I would not hold my breath for any royalties or fees.

I think this will eventually be a very useful website.

Go to 

-----Original Message----- 
From: Andrew Offenburger []  
Sent: Thursday, July 06, 2000 10:17 AM 
To: Bob Jensen 
Subject: Request for Citations

Professor Jensen:

We at Fields of Knowledge are impressed by your research about technology in education, and we would like to consider hiring you to provide six citations to superlative information about this or your favorite subject, for publication in "The Infography."

Librarians and students will appreciate your recommendations, and you will receive royalties and other benefits that make it worth your time to consider this brief assignment.

We need exactly SIX superlative citations, and you may also submit another list of other excellent sources, unlimited in length. You may cite journal articles, books, web sites, or any type of media; you may cite one of your own publications if you objectively consider it superlative or excellent in the field; you may define the subject(s) specific to your research interest and experience.

For your information, the Infography already has citations about "Environmental Education -- Computers." We feel that there are many other aspects of computers in education, and hope that you are qualified to submit a bibliography about a specific subtopic of this subject.

To share your wisdom with the Infography project, please use the submission form at our web site:

If you are unable to provide citations, it would be a professional courtesy to notify us so that we may extend this invitation to another expert.

Thanks for your consideration,

Andrew Offenburger, Editor of The Infography; 480-663-1455 ---------------------------------------------- P.S. If your academic skepticism is healthy, you want some affirmation of the integrity of Fields of Knowledge. Information about the librarians and educators driving this project is available at our web site, supported by the following testimonial:

From: Thomas P. Salmon, past President of the University of Vermont and former Governor of Vermont


I have become well acquainted with the endeavors of Fields of Knowledge.

As I recently learned as President of the University of Vermont, the vision of those enterprises destined to succeed require the creation of joint ventures, affiliations, relationships, and a variety of bridges built by and between academe, business, government and the non-profit sector. We must create channels for the flow of information and continuous transport of knowledge.

I am struck by the creation of a guild of professors and other professionals creating bibliographies within their special knowledge and expertise and compiled in an infography simply designed to clarify learning in processes identifying the most important sources of information about any subject of knowledge.

There are no more important experts than those who do research in the rich vineyards of academe.

The product, which Fields of Knowledge expects to create, is designed to avoid interminable sifting through irrelevant information on the Internet and, substituting in its stead, the reading and utilization of critical and quality information and reference sources. Such a result will be possible through the creation of concise bibliographies of highest quality sources of information, including citations to Internet sites and books and articles providing substantive information and research for learning.

I hope the readers of this letter consider the advantages to themselves or their institutions becoming a part of the Fields of Knowledge initiative.

Sincerely, [signed by] Thomas P. Salmon ---------------------------------------------- Andrew Offenburger, Editor of The Infography; 480-663-1455 
The Infography is published by Fields of Knowledge; 802-685-3454 171 Goose Green Road, Vershire, VT 05079-9640 USA

Six "Superlative Citations" in business ethics --- 

 Links of possible interest in asynchronous learning and online course costs:

Determining the Costs of Online Courses (With a Downloadable Worksheet)  

Asynchrnous Learning Networks: Alfred P. Sloan Foundation's Program in Learning Outside the Classroom  

The Web of Asynchronous Networks 

Why? The Paradigm Shift in Computer-Aided Teaching/Instruction and Network Learning  

Computer and Technology Aids for Researchers 

Bookmarks for Education, Government, Law, and Libraries 

A great set of links on the future of education --- 

On the Levy: A Lobbying Machine Springs Up to Revive Issue of Internet Taxes
By Gerald F. Seib and Jim VandeHei 06/29/00 Page A1, A10

Prof Jensen

I discovered this little program a few weeks ago - what a lifesaver !

ISYS HindSite remembers everywhere you've been and everything you've seen.

You saw something on the Web, but you can't remember where, and you didn't make a bookmark. ISYS HindSite offers Netscape Navigator and IE users the unique ability to perform full text searches on the contents of previously accessed Web pages.

Bookmarks or Favorites for marking pages on the Web are useful, but only if the user realizes at the time that he or she may want to revisit the page in the future. With ISYS HindSite, users can consistently revisit Web pages by searching for words or phrases, even when bookmarks have not been created. 


David Stephens CPA 
CISA Manager Undergraduate Programs 
School of Accounting Curtin University of Technology Western Australia

You can read the following at 

Simply enter your search into ISYS and in seconds you are supplied with every reference on your PC, network, intranet, CD Tower, web site and various other nominated web sites. In such a way, you are able to track team projects, utilize information from multiple sources and discover associations between seemingly disparate elements of information across an almost limitless range of applications.

ISYS indexes over seventy file formats including WP documents, spreadsheets, relational databases and PDF publications. With ISYS you can search them all with one command and get the answer you're looking for - instantly!

CPAnet Get the Most from Excel

Modelling & What-If Analysis - 

Data Extraction - 

Audit Reporting w/ Pivot Tables - 

Financial Reports in a Snap - 

Variables & Goal Seek - 

Helpers for Excel pivot tables 

This is one in a series of Excel Pivot Table Tutorials developed by AccountingWEB software consultant David Carter. The tutorials were originally developed for a UK audience, but the techniques work equally well for US needs.

The more I think about it, the more I can see useful ways to built this Microsoft financial data and Excel analysis website into accounting and AIS courses.  Check it out at 
From an accountancy standpoint, this is a very clever website.

Getting Web content from consumer appliances is on its way. But with these new uses of the Net will come the need for e-businesses to rethink their strategies --- 

From InformationWeek Online on July 9, 2000

XML Drags Insurance Industry Into 21st Century

Could XML be the common denominator that helps move the insurance industry away from its legacy of manual processes?

Many insurance companies are beginning to adopt a set of XML standards that promise to bring business processes online and may help keep agents viable in the face of competition from the Web.

Several insurance carriers are in the process of implementing the new XML specifications, called Acord XML. The specs are message sets used to link common data fields. There are different specs for each type of insurance offered. Currently, only the specs for complex business polices are still under development.

The specs were developed by Acord, the same insurance industry consortium that built many of the EDI standards used by insurance carriers. When implemented, insurance companies will be able to connect their internal systems with the agency management software used by independent agents.

For my XML threads, go to 
A search engine for online audio and video.

Other search helpers are at 

SmartPlanet has over 350 self-study courses in Office, Java, NetWare, Windows, CGI, Notes, Windows NT, FrontPage, Explorer, and other technology subjects. --- 

The Museum of Nanotechnology at 

For more threads on Nanotechnology, see --- 

CANCER SUPPORT GROUPS  (Health, Medical) --- 

SPECIAL OFFER FROM WINE.COM: is making a special free shipping offer to Wall Street Journal readers. Visit  and click on any link to select from thousands of wines. You'll receive free shipping on any orders of $25 or more until August 5th. Just enter the promotional code wsjfs25 at the point of purchase. Enjoy!

Human Origins Program --- 

Kodak Offers Digital Photo Finish
Information Week, July 5, p. 18

The service offers prints of digital photos that customers submit on the Web.  It is available through Kodak's Web site and photo-sharing sites, including,, NuWave Technologies, and

I did not know about this free server service until You've Got Pictures (AOL) sent us a message that pictures of our new grandson were being made available to us for free as downloads.   Of course for a fee, it is also possible to have prints made of those digital pictures (some services offer 50 free trial prints).  The main Kodak link is at 

The Kodak main website has prices ranging from $0.49 to $4.49 per print depending on size and other extras.  Pictures must be submitted as JPEG (jpg) files.  Specialty items such as photo finishing on T-shirts, mugs, and jigsaw puzzels are also available.  You can read the following at 

Be one of the first to get the downloadable KODAK Picture Page Software. It'll give you the control and performance of a desktop application, plus the ability to create stunning two-sided photo album pages. To top it all off, it's FREE!

We'll e-mail you as soon as our KODAK Picture Page Software is available for free downloading.

We are seeking people to participate in our Beta Software Evaluation Program. As a participant you will gain access to new, state-of-the-art photographic software applications from Print@Kodak.

We'll e-mail you as soon as our beta test software is available for free downloading. (for car buffs) --- 

Volkswagens in Film and Video --- 

Privacy Suit Targets Netscape America Online becomes the latest target of a class action lawsuit over privacy. The "SmartDownload" feature in the Netscape browser violates federal privacy laws, according to a suit filed in New York ---,1283,37435,00.html 

Sam's Club is online at 
Get more than you need at wholesale prices.

Welcome To America (Photo gallery, Art, History) 

Chicago in the Year 2000 

Chicago in Earlier Years (History) --- 

History of Richmond (Rarely Seen Richmond) --- 

Happy Cow's Global Guide to Vegetarian Restaurants 
I'd rather eat the cow!

From Yahoo!
Beyond Face Value (History) --- 

A fascinating and disturbing archive of depictions of slavery in Confederate currency. President Andrew Jackson eliminated the Federal Bank in 1832, and dozens of state-chartered banks proceeded to issue their own bills. In the years before the Civil War, these bills began to reflect the increasing political divisions between the North and South. "Just as railroad locomotives and factories provided the themes for many illustrations on Northern bank notes, slaves often provided inspiration for those in the South. Artists depicted slaves as happy, healthy workers, and portrayed overseers and owners as benevolent. Cotton, the commodity with which the South backed its money, also adorned the face of paper.

The July 9th edition of the Internet Essentials 2000 ---

1. 100 Free Minutes of State-to-State Calling per Day 
2. Curbing Cell Phone Rudeness 
3. BigBrother Streaming Video 
4. Using the Internet for Accounting Research; an Interview with Jim Kaplan 
5. IBM's XML DeveloperWork Zone 
6. Official US Time Accurate to within .5 Seconds 
7. New Technology Turbocharges Cable Modems

Pro2Net Accounting Weekly Update  For the Week of July 10, 2000 

1. Today's Top Accounting News 
2. This Week's Feature Solutions Articles 
3. Opinion: Rick Telberg's Insider 
4. Survey Results: Do you support the internationalization of financial accounting standards? 
5. Our Tip of the Week: Mission critical business tools that new start-ups need.

AccountingStudents Newsletter: July 5, 2000 

1. E-textbooks Slow to Catch on With Students, Says Survey 
2. Site of the Week: Junior Achievement 
3. Tip of the Week: Volunteer Options for Accounting Students 
4. Win a CPA Exam Review from Bisk-Totaltape 
5. CPA Exam Tips: New Scantron Form Includes E-Z



Forwarded by Bob Overn

The Washington Post recently published a contest for readers in which they were asked to supply alternate meanings for various words.

The following were some of the winning entries:

Abdicate (v.), to give up all hope of ever having a flat stomach.

Carcinoma (n.), a valley in California, notable for its heavy smog.

Esplanade (v.), to attempt an explanation while drunk.

Willy-nilly (adj.), impotent

Flabbergasted (adj.), appalled over how much weight you have gained.

Negligent (adj.), describes a condition in which you absentmindedly answer the door in your nightie.

Lymph (v.), to walk with a lisp.

Gargoyle (n.), an olive-flavored mouthwash.

Bustard (n.), a very rude Metrobus driver

Coffee (n.), a person who is coughed upon.

Flatulence (n.) the emergency vehicle that picks you up after you are run over by a steamroller.

Balderdash (n.), a rapidly receding hairline.

Testicle (n.), a humorous question on an exam.

Semantics (n.), pranks conducted by young men studying for the priesthood, including such things as gluing the pages of the priest's prayer book together just before vespers.

Rectitude (n.), the formal, dignified demeanor assumed by a proctologist immediately before he examines you.

Marionettes (n.), residents of Washington who have been jerked around by the mayor.

Oyster (n.), a person who sprinkles his conversation with Yiddish expressions.

Circumvent (n.), the opening in the front of boxer shorts.

Frisbatarianism (n.), The belief that, when you die, your soul goes up on the roof and gets stuck there.


In another contest, The Washington Post's Style Invitational also asked readers to take any word from the dictionary, alter it by adding, subtracting or changing one letter, and supply a new definition. Here are some recent winners:

Sarchasm: The gulf between the author of sarcastic wit and the reader who doesn't get it.

Reintarnation: Coming back to life as a hillbilly.

Giraffiti: Vandalism spray-painted very high.

Foreploy: Any misrepresentation about yourself for the purpose of obtaining sex.

Inoculatte: To take coffee intravenously

Osteopornosis: A degenerate disease.

Karmageddon: It's like, when everybody is sending off all these really bad vibes, right? And then, like, the Earth explodes and it's like a serious bummer.

Glibido: All talk and no action.

Dopeler effect: The tendency of stupid ideas to seem smarter when they come at you rapidly.

Intaxication: Euphoria at getting a refund from the IRS, which lasts until you realize it was your money to start with.

Ignoranus: A person who's both stupid and an asshole.

A big-city, California, lawyer (ignoramus?) went duck hunting in rural Texas. He shot and dropped a bird, but it fell into a farmer's field on the other side of a fence. As the lawyer climbed over the fence, an elderly farmer drove up on his tractor and asked him what he was doing. 

The litigator responded, "I shot a duck and it fell into this field, and now I'm going to retreive it." 

The old farmer replied, "This is my property, and you are not coming over here." 

The indignant lawyer said, "I am one of the best trial attorneys in the U.S. and, if you don't let me get that duck, I'll sue you and take everything you own." 

The old farmer smiled and said, "Apparently, you don't know how we do things in Texas. We settle small disagreements like this with the Texas Three-Kick Rule." 

The lawyer asked, "What is the Texas Three-Kick Rule?" The Farmer replied, "Well, first I kick you three times and then you kick me three times, and so on, back and forth, until someone gives up." 

The attorney quickly thought about the proposed contest and decided that he could easily take the old codger. He agreed to abide by the local custom. The old farmer slowly climbed down from the tractor and walked up to the city feller. His first kick planted the toe of his heavy work boot into the lawyer's groin and dropped him to his knees. His second kick nearly wiped the man's nose off his face. The barrister was flat on his belly when the farmer's third kick to a kidney nearly caused him to give up. 

The lawyer summoned every bit of his will and managed to get to his feet and said, "Okay, you old coot! Now, it's my turn!" 

The old farmer smiled and said, "No, I give up. You can have the duck!

Forwarded by Dick Haar:

When Frank returned home from playing golf with Fred, his wife asked, "Why don't you play with Ernie anymore?"

Would you play with someone who swears when he misses the hole, cheats with the score, throws his clubs and moves the ball?" asked Frank.

"I suppose I wouldn't," she replied.

"Neither will Ernie."

It was a foggy, busy "rush-hour" morning at La Guardia(NY). A US Air flight was taxiing to the active when they made a wrong turn and came nose-to-nose with a United 727. The irate ground controller (a woman) lashed out at the US Air crew, screaming and shouting on the ground control frequency. She ended her tirade with, "You can expect progressive taxi instructions in about a half hour, and I want you to go exactly where I tell you, when I tell you, and how I tell you. You got that, US Air?" 

The humbled crew responded: "Yes Ma'am." The frequency went terribly silent, and no one wanted to engage the irate ground controller in her current state. Finally, after what appeared to be an eternity, an unknown captain from another airline, came up on the frequency. "Wasn't I married to you, once?" he asked.

A student at Eagle Rock Junior High won first prize at the Greater Idaho Falls Science Fair, April 26. He was attempting to show how conditioned we have become to alarmists practicing junk science and spreading fear of everything in our environment. In his project he urged people to sign a petition demanding strict control or total elimination of the chemical "dihydrogen monoxide."

And for plenty of good reasons, since:

1. it can cause excessive sweating and vomiting 
2. it is a major component in acid rain 
3. it can cause severe burns in its gaseous state 
4. accidental inhalation can kill you 
5. it contributes to erosion 
6. it decreases effectiveness of automobile brakes 
7. it has been found in tumors of terminal cancer patients

He asked 50 people if they supported a ban of the chemical.

Forty-three (43) said yes, six (6) were undecided, and only one (1) knew that the chemical was water.

The title of his prize winning project was, "How Gullible Are We?"

He feels the conclusion is obvious.


To: All staff, Los Alamos National Laboratory
From: Bill Richardson, Secretary of Energy

Dear staff members:

Due to an unfortunate overreaction by the Republican Congress to our minor difficulties in the security area, we're being forced to tighten up just a bit.

Effective Monday:

The brown paper bag in which we store the computer disk drives that contain the nation's nuclear secrets will no longer be left on the picnic table at the staff commissary during lunch hour. It will be stored in ``the vault.'' I know this is an inconvenience to many of you, but it's a sad sign of the times.

The three-letter security code for accessing ``the vault'' will no longer be ``B-O-B.''  To confuse would-be spies, that security code will be reversed. Please don't tell anybody.

Visiting scientists and graduate students from Libya, North Korea and mainland China will no longer be allowed to wander the hallways withour proper identification. Beginning Monday, they will be required to wear a stick-on lapel tag that clearly states, ``Hello, My Name Is . . . .''The stickers will be available at the front desk.

The computer network used for scientific calculations will no longer be hyperlinked via the Internet to such Web sites as <> <>, or <>. Links to all Disney sites will be maintained, however.

Researchers bearing a security clearance of Level 5 and higher will no longer be permitted to exchange updates on their work by posting advanced-physics formulas on the men's room walls.

On ``Bowling Night,'' please check your briefcases and laptop computers at the front counter of the Bowl-a-Drome instead of leaving them in the cloakroom. Mr. Badonov, the front-counter supervisor, has promised to ``keep un eye on zem'' for us.

Staff members will no longer be allowed to take home small amounts of plutonium, iridium or uranium for use in those ``little weekend projects around the house.'' That includes you parents who are helping the kids with their science fair projects.

Thermonuclear devices may no longer be checked out for ``recreational use.'' We've not yet decided if exceptions will be made for Halloween, the Fourth of July or New Year's Eve. We'll keep you posted.

Employees may no longer ``borrow'' the AA batteries from the burglar alarm system to power their Game Boys and compact-disc players during working hours.

And, finally, when reporting for work each day, all employees must enter through the front door. Raoul, the janitor, will no longer admit employees who tap three times on the side door to avoid clocking in late. I know this crackdown might seem punitive and oppressive to many of you, but it is our sworn duty to protect the valuable national secrets that have been entrusted to our care.

Remember: Security isn't a part-time job -- it's an imperative, all 371/2 hours of the week!

Sincerely, Bill.

And that's the way it was on July 12, 2000 with a little help from my friends.  If you are an accounting practitioner or educator, please do not forget to scan


In March 2000 Forbes named as the Best Website on the Web ---
Some top accountancy links ---


Professor Robert E. Jensen (Bob)
Jesse H. Jones Distinguished Professor of Business Administration
Trinity University, San Antonio, TX 78212-7200
Voice: 210-999-7347 Fax: 210-999-8134  Email:

  Hline.jpg (568 bytes) Hline.jpg (568 bytes)

 Hline.jpg (568 bytes)


July 5, 2000

Quotes of the Week:  

A July 4 Holiday Quote!
There is nothing wrong with America
that cannot be corrected by what is right with America.

Bill Clinton, Inaugural Address, January 1993

First draw the curve and then plot the data.

Only a mediocre person is always at her or his best.

WYSIWYG --- What you see is what you get.
WYDSIWYW --- What you don't see is what you want!


If you are good, you'll be assigned all the work.
If you are really good, you'll get out of it.


Old age is always 15 years older than me.

The more you sweat in peace
The less you bleed in war.


I am sharing the first draft of Working Paper 288 entitled Overhedging Foreign Currencies With a Swap: The FAS 133 Controversy.  At this point the HTML version is merely a pasting of one spreadsheet from the 288wp.xls Excel workbook.  I suggest that interested readers download the Excel workbook.  They can obtain download information from 

I would really appreciate feedback on this case.  I went out on a limb and need more assurance that I am on the right track in this controversy.

In this age of exploding technology, three things are still certain --- death, taxes, and cost accounting.  The bottom line for universities and corporations developing online courses will ultimately boil down to revenues minus costs.  Measuring and accounting for costs of online courses is an enormous problem that entails joint costs, indirect costs, and economies of scale.  Brian Morgan at Marshall University is sharing a tremendous research study into cost analysis of online courses and programs.  He also shares a worksheet that readers can implement for their own programs.

I would love to thread your comments on the report and its worksheet.

Links to Dr. Morgan's paper and a worksheet to determine the cost of an online education course --- 

UNext: The Anti-University?
Forwarded by Jagdish Gangolly, an on-line learning company which has attracted such investors as Michael Milken, the financier, and Larry Ellison, chief executive officer of Oracle Corporation, is generating a lot of discussion in academic circles. Among its higher-education partners supplying course content are Carnegie Mellon, Columbia, and Stanford Universities, the University of Chicago, and the London School of Economics and Political Science.

The posting below is a response by Donald Norman, UNext president, to a controversy resulting from a talk, "UNext: The Anti-University?," that he gave in early June, 2000 at the Training Directors' Forum Conference in Phoenix, Arizona. My thanks to Arun Tripathi for calling this event to my attention.

Rick Reis UP NEXT: Helping Newcomers Become Good Teachers


Tomorrow's Academy
--------------- 887 words ---------------

At a recent TRAINING DIRECTORS' FORUM E-NET --A discussion-driven newsletter for training managers In this issue --Prof. Donald A. Norman (President of UNext and renowned Cognitive Scientist) has given good and stimulating feedbacks on the philosophy and criterion of UNext Learning Systems.

TDF E-Net Editors note: Donald A. Norman ( stirred controversy with a presentation at Training Directors' Forum Conference earlier this month in which he criticized academic practices such as lectures and grades ("UNext: The Anti-University?," June 7). Here Don Norman-- president of e-learning provider LLC (  ) of Deerfield, IL -- tells more.

By Donald A. Norman

I am both amused and dismayed by the reaction to the report of my talk at Training Director's Forum in Phoenix.

At UNext, we take education very seriously, even if I don't always take myself so seriously. Education - and lectures -- should be fun.  But I guess I had better be wary of the fact that Internet learning is so controversial these days that sometimes a footnote in a talk can become the headline.

Let me try to clarify the message I delivered. We -- UNext -- form real partnerships with our consortium universities.  We are not the "anti-university." Rather we are the university for those who cannot attend physical universities.  We offer courses to busy working professionals who do not have time to attend school -- not even night school -- or the workers in nations who do not have ready access to university education, especially graduate-level courses in business administration.

We worry a lot about pedagogy. We know that we cannot offer the same rich social interaction possible in face-to-face, residential universities. So we work hard to create an on-line learning community.  We don't use lectures because we believe that the lecture format simply does not work over the Internet -- and for that matter, is not the most effective way to learn in any setting.


We are fierce advocates of learning by doing, so all our courses are problem-based -- yet with substantive content that we co-create with our consortium universities: Carnegie-Mellon, Chicago, Columbia, London School of Economics, and Stanford.

Do we question university practices? Of course - and every quality university does as well. Why lectures? Why grades? Why fixed schedules?  We question in order to do better, to understand the pedagogical argument behind the tradition. Sometimes, the tradition is no longer relevant. Sometimes, it is important, valuable, and should be maintained.

One mark of the educated citizen is the questioning citizen: We question.  Are our courses good? You bet. I taught for more than 30 years as a faculty member of Harvard and the University of California-San Diego. The courses I am helping put together at UNext are better than the ones I taught at Harvard and UCSD.

We work harder to develop the right pedagogy and content, and to structure the course to promote learning.  We test and test and test. Each course is tested with students three different times, in three different ways, before we release it for teaching by carefully trained instructors of our university, Cardean University. And even then we watch, observe, test and improve.


Let me answer two of the questions that emerged in response to my talk at Training Directors' Forum Conference:

Q Are MBA courses from a traditional institution better than on-line ones?

A Asking the "better or worse" question is asking about the wrong dimension. Our courses are of the same quality as the best traditional ones, but they are also very different, for they are aimed at a different audience, with the material delivered over different media and with no in-person interaction.  Interaction among Cardean faculty and students happens in an on-line community enabled by technology and nurtured by exceptional educators.  We aim at people who couldn't go to a traditional MBA institution. We recommend that people go to a traditional school over an on-line one if they have the choice.

But what of those who do not have that choice? We offer an alternative.

Q Do traditional grades matter? Why?

A They matter for traditional assessment, course credits, degree programs, and accreditation. But in the real world, no, they do not matter.  What does matter is how effective the learning is and how effectively the student can apply what has been acquired.  Traditional grades are often the result of out-of-context examinations that do not really assess true knowledge, or an ability to apply that knowledge.

Moreover, in the real world, we expect people to work together effectively, in teams. If you don't know something, it is fine to ask others for help.  Not so with the grading process. So the true team builder might be penalized.

It is important to understand the reason for grades and their limitations, even if we do stick to conventional grading.

In conclusion, on-line universities are different from facilities-based ones. They therefore need to be assessed on different grounds.  It is not one versus the other -- the one expands the horizons of the other, but is intended for different people under different circumstances.

Let us not put this as "us" versus "them": Let us make it into cooperative exploration of learning and teaching.

You can read more about UNext and related threads at 

The Condition of Education, 2000 --- 

The Condition of Education is an indicator report, summarizing the health of education, monitoring important developments, and showing trends in major aspects of education. The 65 indicators included examine relationships; show changes over time; compare or contrast sub-populations, regions, or countries; or assess characteristics of students from different backgrounds and types of schools. An indicator is policy relevant and problem oriented; it typically incorporates a standard against which to judge progress or regression. Please remember, however, that indicators are not intended to identify causes or solutions, and cannot individually by themselves provide a completely comprehensive view of conditions in education. 

Accounting for Derivative Financial Instruments and Hedging Activities

I recently posted an article on my web site, "The Impact of FAS 133: Do Swaps Still Work." It just came out in the July issue of Futures and Options World. It shows how critical it is for hedgers to qualify for the "shortcut" hedge treatment when swapping from fixed to floating interest rates. You can download the article by clicking here: 

If you haven't been to the Kawaller & Company web site in a while, it's been re-designed (with the expert help of my son, Geremy). I've added a number recently published articles and provided a fair amount of background information on FAS 133. I'd like to encourage you to check it out, and I'd be pleased to get your comments and/or suggestions.

Thanks for your consideration. Hope all is well.

Ira Kawaller & Company, LLC (718) 694-6270 

Note:  Ira has invited me to partner with him in three KMPG workshops on FAS 133 in Chicago, NYC, and Las Vegas.  You can read about these as under Presentations at 

You can link to other portals and resources on FAS 133 and IAS 39 at 

My cases and case answers are indexed at 

I will be adding two new cases on foreign currency hedging and cross-currency hedging soon.

Current Resources from the University of Wisconsin's Scout Report for Business and Economics--- 

Working Papers 
New Books 

For a full-text search of 9,439 Scout Report summaries, type a search below. For advanced searching and browsing, go to 

Why people don't listen to higher education researchers.
An Elusive Science: The Troubling History of Education Research 
By Ellen Condliffe Lagemann University of Chicago Press, 2000

A review is available at 

This ambivalence has changed little over the course of a century. As Ellen Condliffe Lagemann explains in An Elusive Science: The Troubling History of Education Research, the low status of education research has many causes. One is gender: Elementary and secondary education has often been seen as women's workóand, therefore, of questionable academic interest. Equally compelling is Lagemann's thesis that gender contributed to the inequalities of status between researchersówho, in the field's early days, were menóand teachers, most of whom were female at the time. Education "experts" saw themselves as determining and dictating from above ideas about teaching to people who were their social and intellectual inferiors. Lagemann also provocatively suggests that the low and "feminized" status of these very experts contributed to their hostility toward teachers.

Educationists' low status, combined with their contempt for practitioners, has contributed to their long-standing isolation. Lagemann argues that historically, education researchers' alienation from practicing teachers, other academics, policy makers, and the public has led them to focus too much on test scores and other quantitative measures of "outcomes." Education policy research has suffered from a similar myopia; education policy is looked at by itself, apart from public health, economics, housing, or welfare issuesóall factors that profoundly affect schooling. The field's isolation has not only hampered it intellectually, but has also prevented it from having a serious impact on what happens in the classroom.

The history of education research is defined by the struggle between two warring camps. There have been visionaries like John Dewey, who in the first decades of the 1900s advocated using scholarship to change education and even society. Then there are the behaviorists, like the psychologist Edward Thorndike, Dewey's contemporary, who believed that biology should guide educational practice and policy, and thus that the mission of education research should be the assessment of individual pupils' inherent abilities. Dewey, a philosopher who ran a famous laboratory school in Chicago, held that educational scholarship and practice were inseparableóthat teachers should be education scholars and vice versa. In contrast, Thorndike had little use for the study of the practice of teaching; he considered spending time in the classroom a "bore."

Lagemann, who sides with the visionaries, explains that Thorndike and his descendents have tended to win out. The emergence of the standardized-testing industry in the 1920s and '30s, and its legitimation with the establishment of the Educational Testing Service, in 1947, is a particularly sad example of the way research can be hijacked to serve education institutions' less-inspiring purposes. As Lagemann puts it, "Belief in the value of educational testing was essential to the idea that schools and colleges should serve selective as well as educational functions." The rise of testing services, she explains, signaled the triumph of callous cataloguers, who want to sort and categorize children rather than figure out how education can help human beings to lead more inquiring and meaningful lives.

The tide turned somewhat in the 1960s and '70s, Lagemann writes, when the federal government considered education research to be a crucial part of its effort to combat inequality in American society. Much interesting scholarship resulted, but the Reagan administration cut off funding before most efforts had time to thrive or have much effect on teaching practice.

Still, as Lagemann points out, there are reasons to think the landscape of education research might be changing. In recent years, education researchers have been far more interested in cognitive science than in behaviorist psychology, and interdisciplinary work (especially in anthropology) has not only enlivened the field but also made it more relevant.

. . .

Additionally, Lagemann astutely points out that education researchers need to do a better job of educating the public about their work. Too often, innovations in education fail because no one has bothered with public outreach. Lagemann cites examples of creative and progressive curricula that although supported by most educators and education scholars were defeated by outraged parents, cynical politicians, and conservative school boards.

In her review, Liza Featherstone goes on to state the following:

Lagemann suggests but frustratingly falls short of acknowledging a further and more interesting point: that there is a connection between teaching's marginal status within the university and education's low status as a field. Higher education has often rewarded good researchers far more handsomely than it has good teachers. This argument can be taken even further: People teaching in universities often know little about the art of teaching, and their practice could often stand to benefit from the insights of education research. Some in the field seem to be figuring this out: One paper presented at this year's AERA conference examined the learning patterns of undergraduates. Certainly, stronger relationships between education research and other disciplines could improve education researchówhile also improving the university.

Search engine for education sites ---   
My gosh, there were 421 hits for "Bob Jensen," 52 hits for "FAS 133," and 109 hits for "SFAS 133!  I am truly impressed.

Over 20 million university and education pages indexed and ranked in order of popularity.

Search for electronic books --- 
There were 293 hits for accounting books.

For more help in online searching go to 

Over 1,800 Online. TV-Network, and CD-ROM Graduate and Undergraduate Courses in Illinois (210 of the courses are graduate-level courses).  To date 961 of the courses are on the Internet.
The Illinois Virtual Campus Online Catalog --- 

I really like the design of this website.  You can search for subsets very quickly and easily, and there are links to more detail with each listing.

bullet Search by keyword or by college or university, subject, type of credit, or for more detailed information, including course descriptions and how the courses are delivered

bullet Connect directly to the college or university to learn how to register, enroll, and access their bookstore

Search for Courses

Search for Programs

Course Submission Guidelines for Providing Institutions

For example, there are 34 accounting and business law courses to date.  For some reason, one of the courses is a reading improvement course.  None, except one of the accounting courses, are beyond undergraduate intermediate accounting.  There is one graduate managerial accounting course.  However, this is an introductory course designed for students with no previous credits in managerial accounting.

There are 20 engineering courses.  There are a few graduate engineering courses.

As further examples, there are 32 psychology courses and 13 courses on philosophy and religion.

More than 2,000 online courses are available in the online course catalog at 
I did not like the search engine for quite as well as I like the search engine for Illinois Virtual University.  There was no separate search category for graduate courses.  Accounting courses were not isolated from other business courses.

There are over 500 higher education business courses available online.  There are 151 courses in engineering.

Kentucky Commonweath Virtual University --- 

The program listing is at  (this includes MBA courses.)

There is an interesting Faculty Resources link.

Education in India --- 
There does not appear to be a separate listing of online alternatives.
The portal to other categories other than education is at the main page at 

I provide many more portals for finding online courses and degree programs at 

I provide more threads on distance education and distributed learning at 

For the Accounting Professional from Neil Hannon --- 

Jim Kaplan's AuditNet Newsletter Tidbits

From Jim Kaplan's Monthly AuditNet Newsletter:

Financial Management Reference Guide   provides an example of an accounting financial management guide for libraries.

Forensic News Wire provides news and information for computer forensic and IT professionals. (Knowledge Resource)

Fraud Control Strategies   from the New South Wales Australia government is a self-audit guide for assessing best practice in fraud control strategies.

Internal Peer Review Guide   is an electronic guide for internal quality control used to assess conformance to Government Auditing Standards and Office of Audit directives.

From Information Today, June 2000 (Thanks for the tip Jagdish.)

DATABASE PROTECTION IN THE NEXT CENTURY The Collections of Information Antipiracy Act, if passed, would essentially give databases copyright protection, thereby encouraging the creation of these valuable information resources, writes attorney Daniel R. Valente. Database creators spend significant time and money to provide businesses and consumers alike with easy access to vast quantities of data. Current copyright laws do not protect databases because they are not creative works, and courts mostly reject the "sweat-of-the-brow" argument, which maintains that protection should be provided on the basis of a compiler's efforts and investments. The lack of copyright protection for databases means that any company can simply replicate all of the information a creator has worked to compile. The Collections of Information Antipiracy Act, now logjammed in Congress, aims to protect databases while still allowing reasonable use for certain purposes, such as nonprofit and educational uses. Under the act, a person who damaged the potential market for a database by taking a large part of the database or using the data for commercial purposes would be responsible for misappropriation. Creators could seek monetary damages and injunctions to stop further violations. 

In the July-August Issue of The Technology Source by Jim Morrison --- 


How does technology affect the health, creativity, and brain development of children? Are schools better off with or without computers in the classroom?
"The Impact of Computers on Schools: Two Authors, Two Perspectives" --- 
by Katie Kashmanian
This article is a brief review and comparison of the following two books:

Healy, J. M. (1998). Failure to connect: How computers affect our children’s minds—for better and worse. New York: Simon & Schuster.

Tapscott, D. (1998). Growing up digital: The rise of the Net generation. New York: McGraw-Hill.

Both authors agree that schools are ill-positioned to embrace technology and use it properly, and both advocate a significant redesign of instructional environments. According to Tapscott, N-Gen kids think, learn, work, play, communicate, shop, and create in fundamentally different ways than their baby boomer parents. He identifies the following ten characteristics of N-Gen culture and advises educators to take each into account as they rethink teaching and learning:

Educators must consider the "why" of educational practices before jumping blindly onto the computer bandwagon. Technology should allow students to do what they could never before do in classrooms: design systems models, run simulations, research topics on the Internet, join in global communication, and manage information in non-linear ways. But "technology for technology’s sake" should not be tolerated. Technology should not replace valuable hands-on experiences, particularly among primary-aged learners.

With the advent of new technological advances, teachers can become facilitators of learning in a resource-rich environment rather than disseminators of information. A problem-based, student-centered, non-linear approach to education—one that encourages students to take responsibility for learning—is in order. To make that pedagogical shift, teachers must receive quality professional development. They need to know how to infuse technology into their everyday curriculum rather than how to use particular software programs. They also need ongoing support and mentoring from instructional leaders.

The thrill of using technology in the classroom is compelling. However, it must be tempered by concern for productive use and an awareness of the possible negative effects of computers on young learners. Keeping students’ physical well-being in mind, teachers must carefully arrange computers in the classroom (taking ergonomics into account) and set time limits for computer use. An informed, balanced approach to technology infusion is key, and Tapscott and Healy's books are a must-read for all willing to reengineer themselves for 21st-century education.

Thank you Harold Goedde and Peter Shea for the tip.

Here is one example: Salomon identifies constructivism and other relatively recent approaches to instruction and learning as the key to more productive educational practices with technology. Looking for an example of the kinds of "best practice" that reflects constructivism? Salomon offered the "Schools of Thought" site at Vanderbilt University: 

Schools for Thought (SFT) in Nashville is part of an international project designed to restructure the school day consistent with cognitive and social research on learning and instruction. It began as an effort to integrate three approaches to learning that all emphasize the importance of deep understanding of content and guided inquiry: Fostering Communities of Learners, an approach to literacy, science, and social studies developed at the University of California Berkeley; Computer Supported Intentional Learning Environment (CSILE), a student-generated communal data base that supports knowledge building, developed at the Ontario Institute for Studies in Education; and The Adventures of Jasper Woodbury, a mathematics problem solving series developed at Vanderbilt's Learning Technology Center.

There are sections dealing with Technology and Learning as well as Achievement Data.

Evaluating Web Resources 
by Jan Alexander and Marsha Ann Tate 

Includes evaluation checklists and teaching materials.

Free Magazines and/or Free Samples for Education --- 

Also see 

And don't neglect looking at 

In today's economic climate, academic administrators must become worldly in the ways of business. But they have to know which practices to adopt and which to reject. That's where University Business comes in. It is the only publication that shows presidents, provosts, and other high-level officers how to apply business strategies while remaining committed to the mission of higher education. Every issue offers news analyses, case studies, reports on trends, tactics for handling technology, advice from experts, and solutions from peers --sophisticated, thoughtful information packaged to instantly deliver practical value.

For example:  "A year in Oxford isn't always a year at Oxford. Is this any way to run a great educational brand?" --- 

From Infobits on June 30, 2000

"Scholarly communication is under siege. Scholars are losing control of a system that has served them well but is now on the verge of collapse. The free flow of scholarly information, the lifeblood of scholarly inquiry and creativity, is being interrupted." To combat this crisis the Scholarly Publishing & Academic Resources Coalition (SPARC), the Association of Research Libraries (ARL), and the Association of College and Research Libraries (ACRL) have launched the Create Change website. Create Change provides:

-- in-depth statistical data, summaries, and background on the current state of scholarly communication;

-- content that can be used to create a local Create Change Advocacy Kit;

-- a database listing of the 100 most expensive journals, with editors and editorial boards, as well as a listing of SPARC-friendly journals;

-- tips on how scientists and other faculty members can take leadership roles on campus to change the publication status quo;

-- templates for letters librarians and scholars can write to commercial publishers to express their dissatisfaction with pricing trends.

Create Change is on the Web at

SPARC is a worldwide alliance of research institutions, libraries, and organizations that encourages competition in the scholarly communications market. SPARC introduces new solutions to scientific journal publishing, facilitates the use of technology to expand access, and partners with publishers that bring top-quality, low-cost research to a greater audience. SPARC strives to return science to scientists. For more information, link to

ARL is a not-for-profit membership organization comprising the leading research libraries in North America. Its mission is to shape and influence forces affecting the future of research libraries in the process of scholarly communication. For more information, link to 

ACRL, a division of the American Library Association, is a professional association of academic librarians and other interested individuals. It is dedicated to enhancing the ability of academic library and information professionals to serve the information needs of the higher education community and to improve learning, teaching, and research. For more information, link to 

Helpers for Excel pivot tables 

This is one in a series of Excel Pivot Table Tutorials developed by AccountingWEB software consultant David Carter. The tutorials were originally developed for a UK audience, but the techniques work equally well for US needs.

The more I think about it, the more I can see useful ways to built this Microsoft financial data and Excel analysis website into accounting and AIS courses.  Check it out at 
From an accountancy standpoint, this is a very clever website.

eFinancial News 

From the Scout Report --- 

The owners of this lucrative URL address have sponsored a Web directory created by a "team of 50 research analysts [that] has sifted through the Web to find relevant sites for our handcrafted Directory." All Websites in this 30-category directory have been annotated. The annotations, however, tend to be very terse and a bit vague. First time users are encouraged to skim over the excellent site guide, which gives a step-by-step manual for using the site as well as in-depth explanations of the terminology and taxonomy.

Thank you for the tip Scott Bonacker

If you prepare tax returns, this article will be of interest to you: 

Tax Return Preparation as Advertising – a New Revenue Model
By David Hardesty, June 25, 2000

eWEEK throws down the gauntlet to hackers: Win cold cash by being the first person to successfully crack eWeek's Web, e-mail and database servers.