Accounting Educator Helpers

Bob Jensen is in the Department of Business Administration at TrinityUniversity.
Email: rjensen@trinity.edu

Click here to search Bob Jensen's web site if you have key words to enter --- Search Box in Upper Right Corner.
For example if you want to know what Jensen documents have the term "Enron" enter the phrase Jensen AND Enron. Another search engine that covers Trinity and other universities is at http://www.searchedu.com

Find a College
College Atlas --- http://www.collegeatlas.org/
Among other things the above site provides acceptance rate percentages
Online Distance Education Training and Education --- http://www.trinity.edu/rjensen/Crossborder.htm
For-Profit Universities Operating in the Gray Zone of Fraud  (College, Inc.) --- http://www.trinity.edu/rjensen/HigherEdControversies.htm#ForProfitFraud

FASB Accounting Standards Updates ---
http://www.fasb.org/cs/ContentServer?site=FASB&c=Page&pagename=FASB/Page/SectionPage&cid=11761563164

AICPA Fraud Resource Center --- Click Here
http://www.aicpa.org/INTERESTAREAS/FORENSICANDVALUATION/RESOURCES/FRAUDPREVENTIONDETECTIONRESPONSE/Pages/fraud-prevention-detection-response.aspx

"Advice on Life and Creative Integrity from Calvin and Hobbes Creator Bill Watterson," by Maria Popova, Brain Pickings, May 20, 2013 ---
http://www.brainpickings.org/index.php/2013/05/20/bill-watterson-1990-kenyon-speech/

U.S. GAAP Financial Reporting Taxonomy Now Available (2014 Glossary and XBRL)---
http://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1176163688345

Get Your Sign Values Correct in XBRL Files ---
http://www.aicpa.org/InterestAreas/FRC/AccountingFinancialReporting/XBRL/DownloadableDocuments/XBRL Update 2013 Final.pdf

On January 29, 2014 Julie wrote the following on the AAA Commons:

We have completed our work on the plagiarism policy, and the final version can be found here:

http://aaahq.org/about/manual/current/publications/PlagiarismPolicy.pdf

"A Brief History of Sampling," by Bary Ritholtz, Barry Ritholtz Blog, February 7, 2014 ---
http://www.ritholtz.com/blog/2014/02/a-brief-history-of-sampling/

Will Yancey's Legacy --- http://www.willyancey.com/
Sampling and Statistics
[ Data Mining | Sampling for Financial and Internal Audits | Sampling for Income Tax and Customs | Sampling for Medicare and Other Claims | Sampling for Sales and Use Tax Audits - States | Sampling for Sales and Use Tax - Review Articles | Sampling Theory and Applications | Sampling for Valuation | Statistical Consulting | Statistical Education and Software | Statistical Evidence in Litigation ]

Common Accountics Science and Econometric Science Statistical Mistakes ---
http://www.cs.trinity.edu/~rjensen/temp/AccounticsScienceStatisticalMistakes.htm

Wolfram Alpha Computational Database ---
http://www.wolframalpha.com/

U.S. Census Bureau: Random Samplings --- http://blogs.census.gov/

University of Chicago
National Opinion Research Center: Data and Findings --- http://www.norc.org/Research/DataFindings/Pages/default.asp

Statistics Education Research Journal --- http://www.stat.auckland.ac.nz/~iase/publications.php?show=serj

Teaching Statistics --- http://www.stat.auckland.ac.nz/~iase/publications.php?show=serj

Bob Jensen's threads on assessment are at http://www.trinity.edu/rjensen/Assess.htm

Some of the best math learning tutorials are free from the Khan Academy --- https://www.khanacademy.org/

Mathematical Association of America: Student Resources --- http://www.maa.org/math-competitions/student-resources

Bob Jensen's threads on free online mathematics tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#050421Mathematics


Wow!
Finance Learning Modules at the Khan Academy ---
https://www.youtube.com/playlist?list=PL9F0B2DF69976D8FE


Citations: Two Selected Papers About Academic Accounting Research Subtopics (Topical Areas) and Research Methodologies http://www.cs.trinity.edu/~rjensen/temp/AccounticsScienceCitations.htm 

David Johnstone asked me to write a paper on the following:
"A Scrapbook on What's Wrong with the Past, Present and Future of Accountics Science"
Bob Jensen
February 19, 2014
SSRN Download:  http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2398296 

Abstract

For operational convenience I define accountics science as research that features equations and/or statistical inference. Historically, there was a heated debate in the 1920s as to whether the main research journal of academic accounting, The Accounting Review (TAR) that commenced in 1926, should be an accountics journal with articles that mostly featured equations. Practitioners and teachers of college accounting won that debate.

TAR articles and accountancy doctoral dissertations prior to the 1970s seldom had equations.  For reasons summarized below, doctoral programs and TAR evolved to where in the 1990s there where having equations became virtually a necessary condition for a doctoral dissertation and acceptance of a TAR article. Qualitative normative and case method methodologies disappeared from doctoral programs.

What’s really meant by “featured equations” in doctoral programs is merely symbolic of the fact that North American accounting doctoral programs pushed out most of the accounting to make way for econometrics and statistics that are now keys to the kingdom for promotion and tenure in accounting schools ---
http://www.trinity.edu/rjensen/Theory01.htm#DoctoralPrograms

The purpose of this paper is to make a case that the accountics science monopoly of our doctoral programs and published research is seriously flawed, especially its lack of concern about replication and focus on simplified artificial worlds that differ too much from reality to creatively discover findings of greater relevance to teachers of accounting and practitioners of accounting. Accountics scientists themselves became a Cargo Cult.

 


Wolfram Alpha --- http://www.wolframalpha.com/
Also see http://en.wikipedia.org/wiki/Wolfram_Alpha

This is an amazing innovation from one of the all-time geniuses of mathematics and computing
"Computer Genius Builds Language That Lets Anyone Calculate Anything," by Andy Kiersz, Business Insider, March 10, 2014 ---
http://www.businessinsider.com/wolfram-language-demo-2014-3 

Controversial mathematician Stephen Wolfram is about to release a programming language with the goal of being able to quickly do just about any calculation or visualization on just about any kind of data a person could want.

Wolfram, creator of the widely used mathematical software Mathematica and the "computational knowledge engine" Wolfram|Alpha, has announced the forthcoming release of the Wolfram Language, the underlying programming language powering those two pieces of software.

Wolfram describes and demos the language in a video posted late last month:---
http://blog.wolfram.com/2014/02/24/starting-to-demo-the-wolfram-language/

Continued in article

Bob Jensen's illustrations about how to use the traditional Wolfram Alpha for both computing and printing of equations ---
http://www.trinity.edu/rjensen/theorylearningcurves.htm

Jensen Comment
Increasingly professors complain that Wolfram Alpha inhibits learning in mathematics unless assignments, quizzes, and examinations are administered in tightly controlled conditions where students cannot gain access to Wolfram Alpha.

 


ASC = Accounting Standard Codification of the FASB

January 8, 2013 message from Zane Swanson

Another faculty person created a video (link follows)
http://www.screencast.com/t/K8gruSHTv

which introduces the ASC.  This video has potential value at the beginning of the semester to acquaint students with the ASC.  I am thinking about posting the clip to AAA commons.  But, where should it be posted and does this type of thing get posted in multiple interest group areas?

 Any thoughts / suggestions?

Zane Swanson
www.askaref.com a handheld device source of ASC information

Jensen Comment
A disappointment for colleges and students is that access to the Codification database is not free. The FASB does offer deeply discounted prices to colleges but not to individual teachers or students.

There are other access routes that are not free such as the PwC Comperio ---
http://www.pwc.com/gx/en/comperio/index.jhtml

Hi Zane,
 
This is a great video helper for learning how to use the FASB.s Codification database.
 
An enormous disappointment to me is how the Codification omits many, many illustrations in the pre-codification pronouncements that are still available electronically as PDF files. In particular, the best way to learn a very complicated standard like FAS 133 is to study the illustrations in the original FAS 133, FAS 138, etc.
 
The FASB paid a fortune for experts to develop the illustrations in the pre-codification  pronouncements. It's sad that those investments are wasted in the Codification database.
 
What is even worse is that accounting teachers are forgetting to go to the pre-codification pronouncements for wonderful illustrations to use in class and illustrations for CPA exam preparation ---
http://www.fasb.org/jsp/FASB/Page/PreCodSectionPage&cid=1218220137031
 
Sadly the FASB no longer seems to invest as much in illustrations for new pronouncements in the Codification database.

Bob Jensen

 

Examples of great FAS 133 pre-codification illustrations are as follows:

              
[   ] 133ex01a.xls                     12-Jun-2008 03:50  345K  
[   ] 133ex02.doc                      17-Feb-2004 06:00  2.1M  
[   ] 133ex02a.xls                     12-Jun-2008 03:48  279K  
[   ] 133ex03a.xls                     04-Apr-2001 06:45   92K  
[   ] 133ex04a.xls                     12-Jun-2008 03:50  345K  
[TXT] 133ex05.htm                      04-Apr-2001 06:45  371K  
[   ] 133ex05a.xls                     12-Jun-2008 03:49  1.5M  
[TXT] 133ex05aSupplement.htm           26-Mar-2005 13:59   57K  
[   ] 133ex05aSupplement.xls           26-Mar-2005 13:50   32K  
[TXT] 133ex05d.htm                     26-Mar-2005 13:59   56K  
[   ] 133ex06a.xls                     29-Sep-2001 11:43  123K  
[   ] 133ex07a.xls                     08-Mar-2004 16:26  1.2M  
[   ] 133ex08a.xls                     29-Sep-2001 11:43  216K  
[   ] 133ex09a.xls                     12-Jun-2008 03:49   99K  
[   ] 133ex10.doc                      17-Feb-2004 16:37   80K  
[   ] 133ex10a.xls 
[TXT] 133summ.htm                      13-Feb-2004 10:50  121K  
[TXT] 138EXAMPLES.htm                  30-Apr-2004 08:39  355K  
[TXT] 138bench.htm                     07-Dec-2007 05:37  139K  
[   ] 138ex01a.xls                     09-Mar-2001 13:20  1.7M  
[TXT] 138exh01.htm                     09-Mar-2001 13:20   31K  
[TXT] 138exh02.htm                     09-Mar-2001 13:20   65K  
[TXT] 138exh03.htm                     09-Mar-2001 13:20   42K  
[TXT] 138exh04.htm                     09-Mar-2001 13:20  108K  
[TXT] 138exh04a.htm                    09-Mar-2001 13:20  8.2K  
[   ] 138intro.doc                     09-Mar-2001 13:20   95K  
[TXT] 138intro.htm                     09-M

Others --- http://www.cs.trinity.edu/~rjensen/

Jensen Comment
A disappointment for colleges and students is that access to the Codification database is not free. The FASB does offer deeply discounted prices to colleges but not to individual teachers or students.

There are other access routes that are not free such as the PwC Comperio ---
http://www.pwc.com/gx/en/comperio/index.jhtml


The periodic table of data/information visualisation:
http://www.visual-literacy.org/periodic_table/periodic_table.html
Thank you Jagdish Gangolly for the heads up.

Visualization of Multivariate Data (including faces) ---
http://www.trinity.edu/rjensen/352wpvisual/000datavisualization.htm 

 

Computer Desktop Encyclopedia --- http://computerlanguage.com/

Find Accounting Software (commercial site) --- http://findaccountingsoftware.com/

U.S. GAAP Versus IFRS:  The Basics (213 Edition)
Ernst & Young, November 2013 Edition, 56 Pages
http://www.ey.com/Publication/vwLUAssetsAL/IFRSBasics_BB2648_6November2013/%24FILE/IFRSBasics_BB2648_6November2013.pdf

This does not go into the detail and illustrations than the the 228 page PwC summary of the the differences
"IFRS and US GAAP: Similarities and Differences" according to PwC (October 2013 Edition)
http://www.pwc.com/en_US/us/issues/ifrs-reporting/publications/assets/ifrs-and-us-gaap-similarities-and-differences-2013.pdf
Note that warnings are given throughout the document that the similarities and differences mentioned in the booklet are not comprehensive of all similarities and differences. The document is, however, a valuable addition to students of FASB versus IASB standard differences and similarities.

I have a huge beef with the lack of illustrations in IFRS versus the many illustrations in U.S. GAAP.

Similarities and Differences - A comparison of IFRS for SMEs and 'full IFRS' ---
http://www.pwc.com/en_GX/gx/ifrs-reporting/pdf/Sims_diffs_IFRS_SMEs.pdf

Quandl:  over 8 million demographic, economic, and financial datasets from 100s of global sources ---
http://www.quandl.com/

Bob Jensen's threads on accounting standards setting controversies ---
http://www.trinity.edu/rjensen/Theory01.htm#MethodsForSetting


At the start of an exam, a student openly wondered, "But Professor Einstein, this is the same exam question as last year!" To which the great man supposedly replied, "Correct, young man, but we need to find new answers."
Werner Reinartz --- http://blogs.hbr.org/cs/2013/03/measuring_creativity_we_have_t.html

Video
"How Managers Should Read Financial Statements," Harvard Business Review Blog, February 19, 2013 --- Click Here
http://blogs.hbr.org/video/2013/02/how-managers-should-read-finan.html?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date

CNBC Explains Accounting --- http://www.cnbc.com/id/100000341

Bob Jensen's threads on accounting theory


Common Accountics Science and Econometric Science Statistical Mistakes ---
http://www.cs.trinity.edu/~rjensen/temp/AccounticsScienceStatisticalMistakes.htm

Essays on the State of Accounting Scholarship ---
http://www.cs.trinity.edu/~rjensen/temp/AccounticsDamn.htm#Essays

The Sad State of Economic Theory and Research ---
http://www.cs.trinity.edu/~rjensen/temp/AccounticsDamn.htm#EconomicResearch 

Bob Jensen's threads on Gaming for grades ---
http://www.trinity.edu/rjensen/HigherEdControversies.htm#GamingForGrades

Acceptance Speech for the August 15, 2002 American Accounting Association's Outstanding Educator Award --- http://www.trinity.edu/rjensen/000aaa/AAAaward_files/AAAaward02.htm

2012 "Final" Pathways Commission Report ---
http://commons.aaahq.org/files/0b14318188/Pathways_Commission_Final_Report_Complete.pdf
Also see a summary at
"Accounting for Innovation," by Elise Young, Inside Higher Ed, July 31, 2012 ---
http://www.insidehighered.com/news/2012/07/31/updating-accounting-curriculums-expanding-and-diversifying-field

Common Accountics Science and Econometric Science Statistical Mistakes ---
http://www.cs.trinity.edu/~rjensen/temp/AccounticsScienceStatisticalMistakes.htm

How Accountics Scientists Should Change: 
"Frankly, Scarlett, after I get a hit for my resume in The Accounting Review I just don't give a damn"
http://www.cs.trinity.edu/~rjensen/temp/AccounticsDamn.htm
One more mission in what's left of my life will be to try to change this
http://www.cs.trinity.edu/~rjensen/temp/AccounticsDamn.htm 

Academic Versus Political Reporting of Research:  Percentage Columns Versus Per Capita Columns ---
http://www.cs.trinity.edu/~rjensen/temp/TaxAirlineSeatCase.htm
by Bob Jensen, April 3, 201

"A Very Short History Of Data Science," by Gil Press, Forbes, May 28, 2013 --- Click Here
http://www.forbes.com/sites/gilpress/2013/05/28/a-very-short-history-of-data-science/?utm_campaign=techtwittersf&utm_source=twitter&utm_medium=social

The Cult of Statistical Significance:  How Standard Error Costs Us Jobs, Justice, and Lives, by Stephen T. Ziliak and Deirdre N. McCloskey (Ann Arbor:  University of Michigan Press, ISBN-13: 978-472-05007-9, 2007)
http://www.cs.trinity.edu/~rjensen/temp/DeirdreMcCloskey/StatisticalSignificance01.htm

Page 206
Like scientists today in medical and economic and other sizeless sciences, Pearson mistook a large sample size for the definite, substantive significance---evidence s Hayek put it, of "wholes." But it was as Hayek said "just an illusion." Pearson's columns of sparkling asterisks, though quantitative in appearance and as appealing a is the simple truth of the sky, signified nothing.

In Accountics Science R2 = 0.0004 = (-.02)(-.02) Can Be Deemed a Statistically Significant Linear Relationship ---
http://www.cs.trinity.edu/~rjensen/temp/DeirdreMcCloskey/StatisticalSignificance01.htm

 

"So you want to get a Ph.D.?" by David Wood, BYU ---
http://www.byuaccounting.net/mediawiki/index.php?title=So_you_want_to_get_a_Ph.D.%3F

Do You Want to Teach? ---
http://financialexecutives.blogspot.com/2009/05/do-you-want-to-teach.html

Jensen Comment
Here are some added positives and negatives to consider, especially if you are currently a practicing accountant considering becoming a professor.

Accountancy Doctoral Program Information from Jim Hasselback ---
http://www.jrhasselback.com/AtgDoctInfo.html 

Why must all accounting doctoral programs be social science (particularly econometrics) "accountics" doctoral programs?
http://www.trinity.edu/rjensen/theory01.htm#DoctoralPrograms

What went wrong in accounting/accountics research?
http://www.trinity.edu/rjensen/theory01.htm#WhatWentWrong

Bob Jensen's Codec Saga: How I Lost a Big Part of My Life's Work
Until My Friend Rick Lillie Solved My Problem
http://www.cs.trinity.edu/~rjensen/video/VideoCodecProblems.htm

One of the most popular Excel spreadsheets that Bob Jensen ever provided to his students ---
www.cs.trinity.edu/~rjensen/Excel/wtdcase2a.xls

Education: Federal Reserve Bank of Kansas City ---  http://www.kansascityfed.org/education/
Note the Financial Fables section --- http://www.kansascityfed.org/education/fables/index.cfm

Bob Jensen's threads on financial literacy ---
http://www.trinity.edu/rjensen/Bookbob1.htm#InvestmentHelpers

Granulation
Obviously correlation is not causation, but don't suggest this too loudly to referees of The Accounting Review ---
An enormous problem with accountics science, and finance in general,  is that these sciences largely confine themselves to databases where it's only possible to establish correlations and not causes, because zero causal information is contained in the big databases they purchase rather than collect themselves ---
http://www.cs.trinity.edu/~rjensen/temp/AccounticsGranulationCurrentDraft.pdf 

From the Harvard Business School:  Working Knowledge --- http://hbswk.hbs.edu/
Topics --- http://hbswk.hbs.edu/topics/
Accounting and Control is listed under Finance --- http://hbswk.hbs.edu/topics/accountingandcontrol.html


Online MBA Rankings --- http://onlinemba.com/

 
Rank School Business School Name Based In
1 Indiana University - Bloomington Kelly School of Business Bloomington, IN
2 Thunderbird School of Global Management Thunderbird School of Global Management Glendale, AZ
3 University of Illinois - Springfield College of Business and Management Springfield, IL
4 University of Tennessee - Martin College of Business & Global Affairs Martin, TN
5 Rutgers, the State University of New Jersey - New Brunswick and Newark Rutgers Business School Newark, NJ
6 North Carolina State University Poole College of Management, Jenkins Graduate School Raleigh, NC
7 George Washington University George Washington University School of Business Washington, DC
8 University of Florida Hough Graduate School of Business Gainesville, FL
9 Pennsylvania State University Smeal College of Business University Park, PA
10 Arizona State University W.P. Carey School of Business Tempe, AZ

Jensen Comment
For some reason the above ranking leaves out the University of North Carolina ---
 http://onlinemba.unc.edu/about/mba-at-unc/ 
Richard Sansing later pointed out that UNC comes in at Rank 11.


List of FASB Pronouncements ---
http://en.wikipedia.org/wiki/List_of_FASB_pronouncements


MAAW's Accounting Job Boards

Our open sharing retired accounting professor, Jim Martin, who maintains the MAAW Website and Blog made the following posting on August 2, 2013 ---
http://maaw.blogspot.com/

I have developed a new section on MAAW that includes four categories of Accounting Job Boards. These include Professional Associations and Organizations that Provide Certifications, Employment or Staffing Agencies, Government Organizations, and News Organizations.
 
http://maaw.info/AccountingJobBoards.htm

MAAW's Accounting Systems for Business Index

Our open sharing retired accounting professor, Jim Martin, who maintains the MAAW Website and Blog made the following posting on August 24, 2013 ---
http://maaw.blogspot.com/

I have developed an index of accounting systems for business to make it easier to find information related to a specific type of business, industry, or activity. I think you will find it interesting and you might also find it useful in your work. It is an ongoing project that I will update on a continuous basis.

http://maaw.blogspot.com/2013/08/accounting-systems-for-business-index.html

Illustrations
Abandonment Losses

Fleck, L. H. 1926. The incidence of abandonment losses. The Accounting Review (June): 48-59. (JSTOR link).

Accounting Changes (Also see Changes)

Hall, J. O. and C. R. Aldridge. 2007. Changes in accounting for changes. Journal of Accountancy (February): 45-50.

Schwieger, B. J. 1977. A summary of accounting for and reporting on accounting changes. The Accounting Review (October): 946-949. (JSTOR link).

Accounting and Business Machines

Gould, S. W. 1935. The application of tabulating and accounting machines to real estate and mortgage accounting procedure. N.A.C.A. Bulletin (November 15): 261-277.

Walker, R. 1947. Synchronized budgeting in the business machine industry. N.A.C.A. Bulletin (August 1): 1453-1470.

Whisler, R. F. 1933. Factory payroll budget of the National Cash Register Company. N.A.C.A. Bulletin (February 1): 853-861.

Woodbridge, J. S. 1959. The inventory concept of accounting as expressed by electronic data-processing machines and applied to international air transportation. N.A.A. Bulletin (October): 5-12. (International airline revenue accounting).

Accounts Receivable Records

Zeigler, N. B. 1938. Accounts receivable records and methods. N.A.C.A. Bulletin (January 15): 581-594.

Activity Based Costing (See MAAW's ABC Topic)

Ad Agency

Mills, W. B. 1983. Drawing up a budgeting system for an ad agency. Management Accounting (December): 46-51, 59.

Webster, K. and C. G. Uffelman. 1957. Cost reporting in an advertising agency. N.A.C.A. Bulletin (March): 899-905.

Advertising (See MAAW's Marketing, Sales and Advertising Topic)

Aerospace

Van Tatenhove, J. M. 1969. Managing indirect costs in the aerospace industry. Management Accounting (September): 36-42, 48.

Affiliates

Paton, W. A. 1945. Transactions between affiliates. The Accounting Review (July): 255-266. (JSTOR link).

. . .

Works

Dunkerley, R. 1926. Engineering costing and works accountancy - Its objects and necessity. N.A.C.A. Bulletin (March 15): 513-521.

World's Fair (Also see Fair)

McCaffrey, G. D. 1939. Accounting control at the New York World's Fair. N.A.C.A. Bulletin (August 1): 1483-1486.

Wrought Iron (Also see Iron)

Jensen, C. G. 1923. Cost problems in the wrought iron industry. National Association of Cost Accountants Official Publications (January 2): 3-18.

Zinc Mine (Also see Mining)

Smith, L. C. 1954. A cost system for a zinc mine. N.A.C.A. Bulletin (September): 37-47.

 

The fantastic MAAW homepage is at ---
http://maaw.info/


Joe Hoyle has a question for you?

"I HAVE A QUESTION FOR YOU," by Joe Hoyle, Teaching Blog, April 27, 2013 ---
http://joehoyle-teaching.blogspot.com/2013/04/i-have-question-for-you.html

Jensen Comment
I would never ask such a question about the entries in my three blogs, because faithful followers would have to sift through over 50,000 postings in my three blogs that are also posted in various places in my massive Website. Joe has only 166 postings to sift through which is a much more manageable task. But sifting through my postings for likes and dislikes is out of the question even for me ---
http://www.trinity.edu/rjensen/threads.htm
This is not to imply that my stuff has been better or worse than that of my good friend Joe. It's simply a fact that I'm a more active blogger and Web site manager.

I also have over 31,000 postings to the AECM and nearly 18,000 postings and comments on the AAA Commons. Obviously searching for "favorites" is out of the question. My postings have covered the waterfront for education technology to learning theory to nearly all accounting topics.

I do have some early-on postings that I'm very proud of in the early stages of my blog. I was one of the early writers who tried to dispel the myth that online courses needed to be less interactive and intense with individual students. When done "optimally" the communications between a student and an instructor and other students in an online course are more intense than any onsite course. Of course, online courses are not always conducted with such intensity just as onsite courses vary to a tremendous extent in terms of interactions of students and instructors.

But when it comes down to identify the real game changers arising from my postings I can hardly take credit for most of the game changers since in most of my postings I'm mostly referencing and quoting articles. I have to give others most of the credit for seminal ideas. In most ways I'm more of a scout for new inventions than an inventor. I like to think I've been a pretty good scout.

What I enjoy most are the debates with such writers as Tom Selling, Stever Kachelmeier, Richard Sansing, Paul Williams, Patricia Walters, and many, many others. I've learned immensely from these scholars and hope I returned something of value to them.

Although I'm a bit more active as a blogger after my retirement from teaching in 2006, I want to stress that I was nearly as active since the late 1980s when commenced to blog more and more and then more and more. My point is that bloggers need not be retired just to make blogging contributions just like Joe Hoyle is not yet retired and makes many valuable contributions to our craft.

Reply from Joe Hoyle on April 28, 2013

I bet you'd be surprised -- if you simply asked the question "what have I ever said that you immediately remember," you'd get a lot of interesting comments. People's memory serves as a pretty good filter. Almost invariably when people write to me, they start off with "you once said the following and it has stuck with me." And, it is often something that wasn't all that important to me. But it clearly meant something to them. I find that interesting with my students also -- years after they graduate, they will tell me something that I said to them that impacted their life and I won't even remember having said it.

That's one of the things that makes this teaching job so interesting.

Joe

April 29, 2013 reply from Bob Jensen

Hi Joe,

Our styles tend to be different and are probably not comparable. Your blog is more like a personal diary that discusses your own feelings and beliefs and philosophy.

My postings are full of commentaries on what other scholars and researchers have written. My style is more like a journal referee commenting on an article at hand --- pointing out the good and the bad aspects of the article.

You also focus mostly on your personal teaching experiences. I cover more of the ball park --- fraud updates, audit professionalism, communications from standard setters, education technology (bright and dark sides), tools and tricks of the trade, learning theory, accounting theory, and on and on and on.

I think we both provide a service to our professions Joe. We just have different styles and scope of coverage.

Keep up the good work Joe. I still wish you would join the AECM even as a lurker.

Keep up the good work Joe,

Bob Jensen

By the way, my answer to Joe Hoyle's question about his posting that I like best is
"How You Test Is How They Will Learn," by Joe Hoyle, Teaching Blog, January 31, 2010 --- http://joehoyle-teaching.blogspot.com/2010/01/how-you-test-is-how-they-will-learn.html 
 

An example of a Website helper page that I take pride in is at
http://www.trinity.edu/rjensen/000aaa/thetools.htm

Bob Jensen's links to similar Website helper pages ---
http://www.trinity.edu/rjensen/threads.htm

My Outstanding Educator Award Speech ---
http://www.trinity.edu/rjensen/000aaa/AAAaward_files/AAAaward02.htm


Ethical Video Dilemmas for use in the classroom from KPMG --- Click Here

http://emailcc.com/collect/click.aspx?u=yBkk0yFkQBUYhLtB0iEBFmUseoUsqrE3Dvx/pWbQzRFv6VS1ngkmZHUQgfaiTiOzbtC9dsBLaDuNzSN3elnG7KqpqZ4gUCv1aVtnb7PdTsGsnf7V+NKo0sTNSGcmspf9&rh=ff000e36e0e62e7a3efaa54b8d4999362097bc09


CGMA Portfolio of Tools for Accountants and Analysts ---
http://www.cgma.org/Resources/Tools/Pages/tools-list.aspx
Includes ethics tools and learning cases.


Deloitte's New Site for International Accounting Teaching, Scholarship, and  Research ---
http://www.iasplus.com/en/news/2013/02/research-and-education

We have created a new page on IAS Plus that is tailored to help users easily locate academic accounting material and resources relevant for educational research that is available on IAS Plus and other useful sites.

Bookmark this site ---
http://www.iasplus.com/en/resources/research-and-education

Bob Jensen's helpers for accounting educators ---
http://www.trinity.edu/rjensen/default3.htm

Bob Jensen's helpers for accounting researchers ---
http://www.trinity.edu/rjensen/default4.htm

Bob Jensen's threads ---
http://www.trinity.edu/rjensen/threads.htm


Foreign Corrupt Practices Act Compliance Guidebook: Protecting Your Organization from Bribery and Corruption
Martin T. Biegelman and Daniel R. Biegelman
Wiley, 2010
ISBN: 978-0-470-52793-1


Reflections on the Last Decade of IFRS Parts 1 and 2 in the free Australian Accounting Review

2012 Volume 22 Issue 3 Special Edition Part 1 on the last decade of IFRS

Capsule Summaries of Part 2
http://www.iasplus.com/en/news/2012/november/10-years-of-ifrs-reflections-and-expectations

2012 Volume 22 Issue 4 Special Edition Part 2 on the last decade of IFRS

Capsule Summaries of Part 2
http://www.iasplus.com/en/news/2013/02/10-years-of-ifrss-ii

Bob Jensen's threads on accounting standard setting controversies
http://www.trinity.edu/rjensen/Theory01.htm#MethodsForSetting

 

The Free Australian Accounting Review

  1. 2012 - Volume 22 Australian Accounting Review
  2. 2011 - Volume 21 Australian Accounting Review
  3. 2010 - Volume 20 Australian Accounting Review
  4. 2009 - Volume 19 Australian Accounting Review
  5. 2008 - Volume 18 Australian Accounting Review
  6. 2007 - Volume 17 Australian Accounting Review
  7. 2006 - Volume 16 Australian Accounting Review
  8. 2005 - Volume 15 Australian Accounting Review
  9. 2004 - Volume 14 Australian Accounting Review
  10. 2003 - Volume 13 Australian Accounting Review
  11. 2002 - Volume 12 Australian Accounting Review
  12. 2001 - Volume 11 Australian Accounting Review
  13. 2000 - Volume 10 Australian Accounting Review
  14. 1999 - Volume 9 Australian Accounting Review
  15. 1998 - Volume 8 Australian Accounting Review
  16. 1997 - Volume 7 Australian Accounting Review
  17. 1996 - Volume 6 Australian Accounting Review
  18. 1995 - Volume 5 Australian Accounting Review
  19. 1994 - Volume 4 Australian Accounting Review
  20. 1993 - Volume 3 Australian Accounting Review
  21. 1992 - Volume 1 Australian Accounting Review
  22. 1991 - Volume 1 Australian Accounting Review

 


Deloitte (DTTL) and the International Association for Accounting Education and Research (IAAER) today announced the Deloitte IAAER Scholarship Programme, naming five associate professors from Brazil, Indonesia, Poland, Romania and South Africa as the programme’s inaugural scholars.
IAS Plus
February 13, 2013
http://www.iasplus.com/en/news/2013/02/deloitte-scholars

Mentors will be assigned to each scholar to support them as they increase their exposure to internationally recognised accounting scholars, best practices in accounting and business education and research, and a global peer network.

Ongoing mentorship is a critical element of the Deloitte IAAER Scholarship Programme and some well-known and highly accomplished accounting experts have volunteered their support. These include former member of the Financial Accounting Standards Board, Katherine Schipper (Duke University); former member of the International Accounting Standards Board, Mary Barth (Stanford University); Chika Saka (Kwansei Gakuin University); Sidney Gray (University of Sydney); and Ann Tarca (University of Western Australia).

The scholars, who must be a sitting lecturer, assistant, or associate professor holding a PhD (or comparable degree) in a faculty that teaches accounting, auditing, or financial reporting, are chosen for three years and attend IAAER co-sponsored conferences, workshops, and consortia as well as the IAAER World Congress.

In the long term, the programme aims at supporting better accounting education and improving the quality of financial reporting and auditing. The next round of scholarships will open in 2016, with applications considered in 2015.

Bob Jensen's threads on careers in accountancy ---
http://www.trinity.edu/rjensen/Bookbob1.htm#careers

Bob Jensen's helpers for accounting educators ---
http://www.trinity.edu/rjensen/default3.htm

Bob Jensen's helpers for accounting researchers ---
http://www.trinity.edu/rjensen/default4.htm

Bob Jensen's threads ---
http://www.trinity.edu/rjensen/threads.htm


I'm giving thanks for many things this Thanksgiving Day on November 22, 2012, including our good friends who invited us over to share in their family Thanksgiving dinner. Among the many things for which I'm grateful, I give thanks for accounting fraud. Otherwise there were be a whole lot less for me to study and write about at my Website ---

Students who do not cheat still game the system to get higher grade averages on transcripts ---
http://www.trinity.edu/rjensen/HigherEdControversies.htm#GamingForGrades


Hi Pat,

Certainly expertise and dedication to students rather than any college degree is what's important in teaching.


However, I would not go so far as to detract from the research (discovery of new knowledge) mission of the university by taking all differential pay incentives away from researchers who, in addition to teaching, are taking on the drudge work and stress of research and refereed publication.


Having said that, I'm no longer in favor of the tenure system since in most instances it's more dysfunctional than functional for long-term research and teaching dedication. In fact, it's become more of an exclusive club that gets away with most anything short of murder.


My concern with accounting and business is how we define "research," Empirical and analytical research that has zero to say about causality is given too much priority in pay, release time, and back slapping.

"How Non-Scientific Granulation Can Improve Scientific Accountics"
http://www.cs.trinity.edu/~rjensen/temp/AccounticsGranulationCurrentDraft.pdf
By Bob Jensen
This essay takes off from the following quotation:

A recent accountics science study suggests that audit firm scandal with respect to someone else's audit may be a reason for changing auditors.
"Audit Quality and Auditor Reputation: Evidence from Japan," by Douglas J. Skinner and Suraj Srinivasan, The Accounting Review, September 2012, Vol. 87, No. 5, pp. 1737-1765.

Our conclusions are subject to two caveats. First, we find that clients switched away from ChuoAoyama in large numbers in Spring 2006, just after Japanese regulators announced the two-month suspension and PwC formed Aarata. While we interpret these events as being a clear and undeniable signal of audit-quality problems at ChuoAoyama, we cannot know for sure what drove these switches (emphasis added). It is possible that the suspension caused firms to switch auditors for reasons unrelated to audit quality. Second, our analysis presumes that audit quality is important to Japanese companies. While we believe this to be the case, especially over the past two decades as Japanese capital markets have evolved to be more like their Western counterparts, it is possible that audit quality is, in general, less important in Japan (emphasis added) .

 


Debate Assignment:  Should We Never Pay Down the National Deficit or Debt (even partly)?
http://www.cs.trinity.edu/~rjensen/temp/NationalDeficit-Debt.htm


Is Bob Jensen a hypocrite?
I feel like a hypocrite since from the first year in my first faculty appointment I had at least one less course assignment than my colleagues --- teaching two courses per term instead of three or even four like the people up and down the hall were teaching. And I was the highest paid faculty member on the floor in each of the four universities where I had faculty appointments. Forty years later I was teaching the same light loads as well as during all 38 years in between except for the various semesters I got full pay for teaching no courses due to sabbatical leaves and two years in a think tank at Stanford University.

Now I sympathize with arguments that those other faculty (and me) really should have been teaching more across the entire 40 years. I can hear some of you saying:  "That's easy for you to say now --- while you are sitting with a eastward view of three mountain ranges and teaching not one course."

The race to teach less has not served us well, and student-to-faculty ratios were driven more by U.S. News & World Report's [annual rankings] than by rigor," [Gene Nichol (North Carolina)] said. "Professors don't teach enough. The notion that [teaching more] would cripple scholarship is not true and we know it. ...
Tax Prof Blog, March 14, 2013 --- http://taxprof.typepad.com/

Law Schools are cutting expenses in expectation of smaller class sizes. While most can't think of cutting tuition in this environment, the actions they take during the next few years could determine whether legal education moves toward a more affordable future. ...

"The race to teach less has not served us well, and student-to-faculty ratios were driven more by U.S. News & World Report's [annual rankings] than by rigor," [Gene Nichol (North Carolina)] said. "Professors don't teach enough. The notion that [teaching more] would cripple scholarship is not true and we know it." ...

[T]he primary problem facing most law schools is what to do with all the faculty they have on staff. ... "Laying off untenured [faculty] would be very destructive," [Brian Tamanaha (Washington U.)] said. "They are teaching important skills and valuable classes."

Tamanaha said the better option is to offer buyouts to tenured professors. "We will see schools offer separation packages -- one or two year's compensation if you go now," he said. "The only people interested in a buyout would be people with sufficient retirement funds or professors with practices on the side." Vermont Law School and Penn State University Dickinson School of Law have discussed similar steps. ...

Brian Leiter, a law professor at the University of Chicago Law School who runs a blog on legal education, has predicted that as many as 10 law schools will go out of business during the next decade.

Rather than face closure, law schools could take more drastic steps -- even overcoming tenure. When Hurricane Katrina devastated New Orleans, Tulane University declared financial exigency and eliminated entire departments -- terminating tenured professors. The same action has happened at other universities faced with economic hardships.

"If you say this is a tsunami of a different kind -- the 100 year flood -- then a dean could let go of faculty," another law professor said. For example, a school could choose to eliminate nonessential specialties, such as a tax law program, and terminate most faculty in those areas.

In addition to eliminating tenured positions, a dean could reduce salaries out of financial necessity. "Schools under severe financial pressure may be faced with an even starker option -- closing their doors," Tamanaha said. ...

Nichol said all law schools should reconsider their current salary structures, and not just schools in the worst economic position. "In the same way that the market for graduates is adjusting, it would not be absurd for our salaries to adjust as well," he said. "I don't see why our leave packages should be more generous than other parts of the campus. We will have to fix that now before we forced to."

Nichol said schools should consider eliminating sabbaticals, trimming travel and reducing summer research grants. "Every school needs to look line by line for where it can cut costs," [David Yellen (Dean, Loyola-Chicago)] said. Faculty travel, conferences and other things can add up to a couple of professors salaries."

Jensen Comment
And I darn well "know it." I think I do all this free academic blogging in large measure out of guilt. I need to give something back!

Franco Modigliani --- http://en.wikipedia.org/wiki/Franco_Modigliani
Trinity University has a program for bringing all possible former Nobel Prize winning economists. In an auditorium they were not to discuss technicalities of their work as much as they were to summarize their lives leading up to their high achievements. One of the most inspiring presentations I can remember was that of Franco Modigliani.

What I remember most is that he asserted that some of his most productive years of research and scholarship came during the years he was teaching five different courses on two different campuses.

The Academy increasingly coddled researchers with more pay, large expense funds, the highest salaries on campus, and lighter teaching loads. I'm not certain that they, me included, were not coddled far too much relative to the the value of the sum total of their (including my) work. I think not! The sum total may have been as high or higher if they were teaching four courses per term (maybe not five).

Bob Jensen

Bob Jensen's threads on higher education controversies ---
http://www.trinity.edu/rjensen/HigherEdControversies.htm

Reply from Jagdish Gangolly

Bob,

You are not alone. A colleague of mine at Albany, a mathematician in the Management Sciences department, who taught mathematics at Brown before coming to Albany was saying the same thing. He was most productive when he taught heavy loads.

Teaching and writing are probably the most demanding of intellectual tasks (unless of course you are resigned to teaching because you must). Even research nowadays is, thanks to statistical packages and abundant databases, by comparison a mundane task.

I was not as lucky as you were; I taught the usual 2 courses each semester except for the sabbaticals. But one semester I taught five courses, by happenstance. Two masters courses in accounting (an auditing and an AIS course), two doctoral seminars in (Knowledge Organization and in Statistical Natural Language Processing) Information Science, all at SUNY Albany, and an MBA management accounting course at Rensselaer Polytechnic Institute. And, strange as it may seem, that was my most productive year in research. I have never been as ready for summer in my life as at the end of that semester.

Regards,

Jagdish

 

 


A Pissing Contest Between Bob and Jagdish:  An Illustration of How to Lie With Statistics ---
http://www.cs.trinity.edu/~rjensen/temp/LieWithStatistics01.htm

Accounting News Links ---
http://www.trinity.edu/rjensen/AccountingNews.htm

The new AAA Digital Library ---
http://aaajournals.org/

Issues and Resources from the AAA (Some New and Important Stuff) ---
http://aaahq.org/resources.cfm

AAA Newsroom ---
http://aaahq.org/newsroom.cfm

AAA Commons ---
http://commons.aaahq.org/pages/home

AAA Faculty Development ---
http://aaahq.org/facdev.cfm

AAA FAQs ---
http://aaahq.org/about/faq.htm

Listservs, Blogs, and Social Media ---
http://www.trinity.edu/rjensen/ListservRoles.htm

Accounting Career Helpers and Links ---
http://www.trinity.edu/rjensen/Bookbob1.htm#careers

Bob Jensen's Helpers for Accounting Educators ---
http://www.trinity.edu/rjensen/Default3.htm

Free online courses, lectures, videos, and course materials from prestigious universities ---
http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

Education Technology Links ---
http://www.trinity.edu/rjensen/000aaa/0000start.htm

Tools and Tricks of the Trade ---
http://www.trinity.edu/rjensen/000aaa/thetools.htm

Bob Jensen's Threads (with many links to resources for educators) ---
http://www.trinity.edu/rjensen/threads.htm

Summary of Major Accounting Scandals ---
http://en.wikipedia.org/wiki/Accounting_scandals

A Dual Model for Lease Accounting: 
Redrawing the Lines Into a Brick Wall of Forecasted Lease Renewal Controversy
http://www.cs.trinity.edu/~rjensen/temp/LeaseAccounting.htm

Bob Jensen's threads on such scandals:

Bob Jensen's threads on audit firm litigation and negligence ---
http://www.trinity.edu/rjensen/Fraud001.htm

Current and past editions of my newsletter called Fraud Updates ---
http://www.trinity.edu/rjensen/FraudUpdates.htm

Enron --- http://www.trinity.edu/rjensen/FraudEnron.htm

Rotten to the Core --- http://www.trinity.edu/rjensen/FraudRotten.htm

American History of Fraud --- http://www.trinity.edu/rjensen/FraudAmericanHistory.htm

Bob Jensen's fraud conclusions ---
http://www.trinity.edu/rjensen/FraudConclusion.htm

Bob Jensen's threads on auditor professionalism and independence are at
http://www.trinity.edu/rjensen/Fraud001c.htm

Bob Jensen's threads on corporate governance are at
http://www.trinity.edu/rjensen/Fraud001.htm#Governance 


"Exploring Accounting Doctoral Program Decline:  Variation and the Search for Antecedents," by Timothy J. Fogarty and Anthony D. Holder, Issues in Accounting Education, May 2012 ---
Not yet posted on June 18, 2012

ABSTRACT
The inadequate supply of new terminally qualified accounting faculty poses a great concern for many accounting faculty and administrators. Although the general downward trajectory has been well observed, more specific information would offer potential insights about causes and continuation. This paper examines change in accounting doctoral student production in the U.S. since 1989 through the use of five-year moving verges. Aggregated on this basis, the downward movement predominates, notwithstanding the schools that began new programs or increased doctoral student production during this time. The results show that larger declines occurred for middle prestige schools, for larger universities, and for public schools. Schools that periodically successfully compete in M.B.A.. program rankings also more likely have diminished in size. of their accounting Ph.D. programs. Despite a recent increase in graduations, data on the population of current doctoral students suggest the continuation of the problems associated with the supply and demand imbalance that exists in this sector of the U.S. academy.

Jensen Comment
This is a useful update on the doctoral program shortages relative to demand for new tenure-track faculty in North American universities. However, it does not suggest any reasons or remedies for this phenomenon.  The accounting doctoral program in many ways defies laws of supply and demand. Accounting faculty are the among the highest paid faculty in rank (except possibly in unionized colleges and universities that are not wage competitive). For suggested causes and remedies of this problem see ---
http://www.trinity.edu/rjensen/Theory01.htm#DoctoralPrograms

Accountancy Doctoral Program Information from Jim Hasselback ---
http://www.jrhasselback.com/AtgDoctInfo.html 

Especially note the table of the entire history of accounting doctoral graduates for all AACSB universities in the U.S. ---
http://www.jrhasselback.com/AtgDoct/XDocChrt.pdf
In that table you can note the rise or decline (almost all declines) for each university.

Links to 91 AACSB University Doctoral Programs ---
http://www.jrhasselback.com/AtgDoct/AtgDoctProg.html

October 8, 2008 message from Amelia Balwin

These are the slides from today's presentations. This is a work on progress. Your comments are welcome, particularly on the design of the surveys.

I am very grateful for the support of this research provided by an Ernst & Young Diversity Grant Award!

 

"So you want to get a Ph.D.?" by David Wood, BYU ---
http://www.byuaccounting.net/mediawiki/index.php?title=So_you_want_to_get_a_Ph.D.%3F

 

"The Accounting Doctoral Shortage: Time for a New Model," by Jerry E. Trapnell, Neal Mero, Jan R. Williams and George W. Krull, Issues in Accounting Education, November 2009 ---
http://aaajournals.org/doi/abs/10.2308/iace.2009.24.4.427

ABSTRACT:
The crisis in supply versus demand for doctorally qualified faculty members in accounting is well documented (Association to Advance Collegiate Schools of Business [AACSB] 2003a, 2003b; Plumlee et al. 2005; Leslie 2008). Little progress has been made in addressing this serious challenge facing the accounting academic community and the accounting profession. Faculty time, institutional incentives, the doctoral model itself, and research diversity are noted as major challenges to making progress on this issue. The authors propose six recommendations, including a new, extramurally funded research program aimed at supporting doctoral students that functions similar to research programs supported by such organizations as the National Science Foundation and other science‐based funding sources. The goal is to create capacity, improve structures for doctoral programs, and provide incentives to enhance doctoral enrollments. This should lead to an increased supply of graduates while also enhancing and supporting broad‐based research outcomes across the accounting landscape, including auditing and tax.

 

Accounting Doctoral Programs

PQ = Professionally Qualified under AACSB standards (seldom in tenure tracks)
AQ = Academically Qualified under AACSB standards

May 3, 2011 message to Barry Rice from Bob Jensen

Hi Barry,

Faculty without doctoral degrees who meet the AACSB PQ standards are still pretty much second class citizens and will find the tenure track hurdles to eventual full professorship very difficult except in colleges that pay poorly at all levels.

There are a number of alternatives for a CPA/CMA looking into AACSB AQ alternatives in in accounting in North American universities:

The best alternative is to enter into a traditional accounting doctoral program at an AACSB university. Virtually all of these in North America are accountics doctoral programs requiring 4-6 years of full time onsite study and research beyond the masters degree. The good news is that these programs generally have free tuition, room, and board allowances. The bad news is that students who have little interest in becoming mathematicians and statisticians and social scientists need not apply --- http://www.trinity.edu/rjensen/Theory01.htm#DoctoralPrograms 

As a second alternative Central Florida University has an onsite doctoral program that is stronger in the accounting and lighter in the accountics. Kennesaw State University has a three-year executive DBA program that has quant-lite alternatives, but this is only available in accounting to older executives who enter with PQ-accounting qualifications. It also costs nearly $100,000 plus room and board even for Georgia residents. The DBA is also not likely to get the graduate into a R1 research university tenure track.

As a third alternative there are now some online accounting doctoral programs that are quant-lite and only take three years, but these diplomas aren't worth the paper they're written on --- http://www.trinity.edu/rjensen/Crossborder.htm#CommercialPrograms  Cappella University is a very good online university, but its online accounting doctoral program is nothing more than a glorified online MBA degree that has, to my knowledge, no known accounting researchers teaching in the program. Capella will not reveal its doctoral program faculty to prospective students. I don't think the North American academic job market yet recognizes Capella-type and Nova-type doctorates except in universities that would probably accept the graduates as PQ faculty without a doctorate.

As a fourth alternative there are some of the executive accounting doctoral programs in Europe, especially England, that really don't count for much in the North American job market.

As a fifth alternative, a student can get a three-year non-accounting PhD degree from a quality doctoral program such as an economics or computer science PhD from any of the 100+ top flagship state/provincial universities in North America. Then if the student also has PQ credentials to teach in an accounting program, the PhD graduate can enroll in an accounting part-time "Bridge Program" anointed by the AACSB --- http://www.aacsb.edu/conferences_seminars/seminars/bp.asp 

As a sixth alternative, a student can get a three-year law degree in addition to getting PQ credentials in some areas where lawyers often get into accounting program tenure tracks. The most common specialty for lawyers is tax accounting. Some accounting departments also teach business law and ethics using lawyers.

Hope this helps.

Bob Jensen

PS
Case Western has a very respected accounting history track in its PhD program, but I'm not certain how many of the accountics hurdles are relaxed except at the dissertation stage.

Advice and Bibliography for Accounting Ph.D. Students and New Faculty by James Martin ---
http://maaw.info/AdviceforAccountingPhDstudentsMain.htm

The Sad State of North American Accountancy Doctoral Programs ---
http://www.trinity.edu/rjensen/Theory01.htm#DoctoralPrograms

 


Capsule Commentary Book Review, The Accounting Review, January 2012, pp. 356-357 ---
http://aaajournals.org/doi/full/10.2308/accr-10189

CAPSULE COMMENTARY

Stephen A. Zeff, Editor

HARRY I. WOLK (editor), Accounting Theory (London, U.K.: Sage Publications Ltd., 2009, ISBN 978-1-84787-609-6, pp. xlv, 1,518 in four volumes).

Harry I. Wolk, the compiler of this collection of 74 previously published articles and other essays, died in October 2009 at age 79. In 1984, he was assisted by two colleagues in writing a thoughtful, wide-ranging textbook on accounting theory, which is now in its seventh edition. He has, thus, been a close student of the accounting theory literature for many years.

Wolk's valedictory contribution is this anthology, which is divided into ten sections: philosophical background, accounting concepts, conceptual frameworks, accounting for changing prices, standard setting, applications of accounting theory to five measurement areas, agency theory, principles versus rules, international accounting standards, and accounting issues in East and Southeast Asia. Because he provides only a two-and-a-half-page general introduction, we cannot know the criteria he used to make these selections. The earliest of the articles dates from 1958, and one infers that this collection represents the body of work that, over his long career, mostly at Drake University, he found to be influential writings.

Among the major contributors to the theory literature represented in the collection are Devine, Mattessich, Davidson, Solomons, Sterling, Thomas, Bell, Shillinglaw, Bedford, Ijiri, and Stamp. Conspicuous omissions are Chambers, Baxter, Staubus, Moonitz, Sorter, and Vatter. Although many of the earlier pieces have stood the test of time, a number of the more recent selections would, inevitably, be open to second-guessing. To be sure, most of these articles can be accessed electronically, yet it is instructive to know the works that Harry Wolk believed were worth remembering, and it is handy to have them all in one collection.

The price tag of £600/$1,050 for the four-volume set will, unfortunately, deter all but the most enthusiastic purchasers.

Jensen Comment
And to think my constantly-updated accounting theory book (in two volumes) has a price tag of $0 (Sigh!)---
http://www.trinity.edu/rjensen/Theory01.htm

But I do thank Harry for providing me with an accounting illustration that I turned into the most popular Excel illustration that I ever authored (i.e., popular in the eyes of my students over the years) ---
www.cs.trinity.edu/~rjensen/Excel/wtdcase2a.xls

 


Question
What is the most downloaded article published by the Journal of Accounting Research?

Answer
"International Accounting Standards and Accounting Quality," JAR, March 2008 ---
http://onlinelibrary.wiley.com/doi/10.1111/j.1475-679X.2008.00287.x/full

A September 2007 version of this paper may be downloaded free from SSRN ---
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=688041

Abstract:     
We examine whether application of International Accounting Standards is associated with higher accounting quality. The application of IAS reflects the combined effects of features of the financial reporting system, including standards, their interpretation, enforcement, and litigation. We find that firms applying IAS from 21 countries generally evidence less earnings management, more timely loss recognition, and more value relevance of accounting amounts than do a matched sample of firms applying non-US domestic standards. Differences in accounting quality between the two groups of firms in the period before the IAS firms adopt IAS do not account for the post-adoption differences. We also find that firms applying IAS generally evidence an improvement in accounting quality between the pre- and post-adoption periods. Although we cannot be sure that our findings are attributable to the change in the financial reporting system rather than to changes in firms' incentives and the economic environment, we include research design features to mitigate the effects of both.

 

Number of Pages in PDF File: 55

Keywords: IAS, IASB, International Accounting Standards, International Accounting Standards Board, International Financial Reporting Standards

Jensen Comment
This article was written before changes were made in both IASB and FASB standards. Some of these changes narrowed the differences between IASB and FASB standards. Others widened these differences, particularly in the area of accounting for derivative financial instruments and hedging.

Bob Jensen's threads on accounting standards setting controversies ---
http://www.trinity.edu/rjensen/Theory01.htm#MethodsForSetting


"How to Write a Lot for the Sciences," by Heather M. Whitney, Chronicle of Higher Education, January 17, 2012 ---
http://chronicle.com/blogs/profhacker/how-to-write-a-lot-for-the-sciences/37966?sid=wc&utm_source=wc&utm_medium=en

I’ve often been frustrated by the how-to-succeed-in-academia advice that’s out there. To be honest, a sizable portion of it is not applicable to my work in science. Grad school was an especially dim time. Most of the advice doled out online and in other venues was along the lines of “just write! write! write!” and I would sigh and ask myself, “but what about getting productive at planning and doing experiments?”

But lately I’ve had a bit of a change of heart. Maybe there is something I can glean from the advice on writing. I read a fascinating post by Holly Tucker, a historian of science and medicine, in which she details the practice of her writing group. Tucker describes how the book How to Write a Lot: A Practical Guide to Productive Academic Writing changed her point of view on writing and has led to a greater productivity in this slice of her job.

I figured, if a historian of science can get something out of this, maybe so can I. So I purposed with a faculty friend of mine and we both read the book over the holiday break.

I won’t give all the details of the book here, but in short, the author, Paul Silvia, advises that you write and meet with an accountability group regularly. He claims that if you make appointments with yourself to write, and give these appointments the level of importance that you give other items in your schedule (such as teaching a class), you will see productivity.

Continued in article

Jensen Comment
I plan to post this to the AAA Commons Writing Forum commenced by our AECM friend Zane Swanson ---
http://commons.aaahq.org/posts/c5fdcaace5

Bob Jensen's helpers for writers ---
http://www.trinity.edu/rjensen/Bookbob3.htm#Dictionaries


Links to IFRS Resources (including IFRS Cases) for Educators ---
http://www.iasplus.com/en/binary/resource/0808aaaifrsresources.pdf
Prepared by Paul Pacter: ppacter@iasb.org


"JSTOR Tests Free, Read-Only Access to Some Articles," by Jennifer Howard, Chronicle of Higher Education, January 13, 2012 ---
http://chronicle.com/blogs/wiredcampus/JSTOR-tests-free-read-only-access-to-some-articles/34908?sid=wc&utm_source=wc&utm_medium=en

It’s about to get a little easier—emphasis on “a little”—for users without subscriptions to tap JSTOR’s enormous digital archive of journal articles. In the coming weeks, JSTOR will make available the beta version of a new program, Register & Read, which will give researchers read-only access to some journal articles, no payment required. All users have to do is to sign up for a free “MyJSTOR” account, which will create a virtual shelf on which to store the desired articles.

But there are limits. Users won’t be able to download the articles; they will be able to access only three at a time, and there will be a minimum viewing time frame of 14 days per article, which means that a user can’t consume lots of content in a short period. Depending on the journal and the publisher, users may have an option to pay for and download an article if they choose.

To start, the program will feature articles from 70 journals. Included in the beta phase are American Anthropologist, the American Historical Review, Ecology, Modern Language Review, PMLA, College English, the Journal of Geology, the Journal of Political Economy, Film Quarterly, Representations, and the American Journal of Psychology .

The 7o journals chosen “represent approximately 18 percent of the annual turn-away traffic on JSTOR,” the organization said in an announcement previewing Register & Read. “Once we evaluate how the beta is going, including any impact on publishers’ sales of single articles, and make any needed initial adjustments to the approach, we expect to release hundreds more journals into the program.”

Every year, JSTOR said, it turns away almost 150 million individual attempts to gain access to articles. “We are committed to expanding access to scholarly content to all those who need it,” the group said. Register & Read is one attempt to do that.

In September 2011, JSTOR also opened up global access to its Early Journal Content. According to Heidi McGregor, a spokeswoman for the Ithaka group, JSTOR’s parent organization, there have been 2.35 million accesses of the Early Journal Content from September 2011 through December 2011. “About 50% of this usage is coming from users we know are at institutions that participate in JSTOR (e.g. we recognize their IP address), and the other 50% is not,” she said in an e-mail. ”We absolutely consider this to be a success. In the first four months after launch, we are seeing over 1 million accesses to this content by people who would not have had access previously. This is at the core of our mission, and we’re thrilled with this result.  The Register & Read beta is an exciting next step that we are taking, working closely with our publisher partners who own this content.”

Continued in article

Jensen Comment
Most colleges pay for library subscription access to JSTOR by students, faculty, and staff. As an emeritus professor at Trinity University I've been able to access JSTOR since I retired in 2006.

One search route I commonly take is to first find a reference to an article in MAAW ---
http://maaw.info/
Thank you Jim Martin for this tremendous open sharing MAAW site.

Then most often I download the article from JSTOR unless the publisher provides access either for free or because I subscribe to the journal in question. But even if I have a current subscription to a journal such as The Accounting Review, the publisher of TAR does not have online archives going back nearly as far as JSTOR. So if I want a 1971 TAR article I will go to JSTOR. TAR only has online archives going back to 1999. TAR commenced publishing journal articles in 1925.

It's worthwhile to first check the publisher's site before going to JSTOR. For example, the free archived files (since 1974) for the Accounting Historians Journal are better at the AHJ site than at the JSTOR site ---
http://www.olemiss.edu/depts/general_library/dac/files/ahj.html

Bob Jensen's search helpers are at
http://www.trinity.edu/rjensen/Searchh.htm


My recent stay in the Concord Holiday Inn and your replies prompted me to write an online document called
"Holiday Inn Case Seeds and Questions About Tobin's Q"
Two Ideas for Hotel Replacement Cost Cases in Accounting"
http://www.cs.trinity.edu/~rjensen/temp/HolidayInnCaseSeeds.htm 


Free CPA Review Courses and Practice Examinations (managed by Professor Joe Hoyle) --- http://cpareviewforfree.com/

Free accounting textbook from a generous accounting professor ---
http://www.ibtimes.com/prnews/20081218/ny-flat-world-knowldg.htm
Also see http://www.flatworldknowledge.com/Joe-Hoyle-Podcast 


"Five things accounting educators need to know, CPA Success, January 6, 2012 ---
http://www.cpasuccess.com/2012/01/top-five-things-accounting-educators-need-to-know.html
Thank you Tom Hood for the heads up.

Five things accounting educators need to know

  1. The top trends facing the CPA profession (almost none are technical).
  2. The profession has a vision (and students like it).
  3. There are more career opportunities than just the Big Four (business and industry, not-for-profits, government, and 40,000 firms).
  4. Students want to understand the expectations and realities of the workplace.
  5. Data (XBRL) is the new plastics -- career advice for students and young professionals.

This post is for our accounting educators who are responsible for laying a strong foundation for the CPA profession's future, and it is no easy job!

Today I am delivering a keynote on the latest issues facing the CPA profession at our annual educator's conference while attending the CPA-SEA (State CPA Society Executives) meeting with the AICPA senior leadership at our annual mid-winter meeting. Thanks to video and webcasting capabilities, I can actually be in two places at one time!

My presentation is not the typical PIU (professional issues update). This one is about the future -- the future of the CPA profession and the top trends identified by the CPA Horizons 2025 Project.

Here are some resources:

Here are three videos you may want to use in the classroom for talking about the future of the CPA profession:

Downloadable documents you can use in class:

 So for all you accounting educators, this post is for you.


574 Shields Against Validity Challenges in Plato's Cave ---
http://www.trinity.edu/rjensen/TheoryTAR.htm

 

574 Shields Against Validity Challenges in Plato's Cave  --- http://www.trinity.edu/rjensen/TheoryTAR.htm
By Bob Jensen

Table of Contents

574 Shields Against Validity Challenges in Plato's Cave---
http://www.trinity.edu/rjensen/TheoryTAR.htm

 

574 Shields Against Validity Challenges in Plato's Cave --- http://www.trinity.edu/rjensen/TheoryTAR.htm
By Bob Jensen

Table of Contents

 

Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

574 Shields Against Validity Challenges in Plato's Cave ---
http://www.trinity.edu/rjensen/TheoryTAR.htm

Gaming for Tenure as an Accounting Professor ---
http://www.trinity.edu/rjensen/TheoryTenure.htm
(with a reply about tenure publication point systems from Linda Kidwell)

"So you want to get a Ph.D.?" by David Wood, BYU ---
http://www.byuaccounting.net/mediawiki/index.php?title=So_you_want_to_get_a_Ph.D.%3F

Do You Want to Teach? ---
http://financialexecutives.blogspot.com/2009/05/do-you-want-to-teach.html

Jensen Comment
Here are some added positives and negatives to consider, especially if you are currently a practicing accountant considering becoming a professor.

Accountancy Doctoral Program Information from Jim Hasselback ---
http://www.jrhasselback.com/AtgDoctInfo.html 

Why must all accounting doctoral programs be social science (particularly econometrics) "accountics" doctoral programs?
http://www.trinity.edu/rjensen/theory01.htm#DoctoralPrograms

What went wrong in accounting/accountics research?
http://www.trinity.edu/rjensen/theory01.htm#WhatWentWrong

 

AN ANALYSIS OF THE EVOLUTION OF RESEARCH CONTRIBUTIONS BY THE ACCOUNTING REVIEW: 1926-2005 ---
http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm#_msocom_1

Systemic problems of accountancy (especially the vegetable nutrition paradox) that probably will never be solved ---
http://www.trinity.edu/rjensen/FraudConclusion.htm#BadNews

"The Accounting Doctoral Shortage: Time for a New Model,"
by Neal Mero, Jan R. Williams and George W. Krull, Jr. .
Issues in Accounting Education
24 (4)
http://aaapubs.aip.org/getabs/servlet/GetabsServlet?prog=normal&id=IAEXXX000024000004000427000001&idtype=cvips&gifs=Yes&ref=no

ABSTRACT:
The crisis in supply versus demand for doctorally qualified faculty members in accounting is well documented (Association to Advance Collegiate Schools of Business [AACSB] 2003a, 2003b; Plumlee et al. 2005; Leslie 2008). Little progress has been made in addressing this serious challenge facing the accounting academic community and the accounting profession. Faculty time, institutional incentives, the doctoral model itself, and research diversity are noted as major challenges to making progress on this issue. The authors propose six recommendations, including a new, extramurally funded research program aimed at supporting doctoral students that functions similar to research programs supported by such organizations as the National Science Foundation and other science-based funding sources. The goal is to create capacity, improve structures for doctoral programs, and provide incentives to enhance doctoral enrollments. This should lead to an increased supply of graduates while also enhancing and supporting broad-based research outcomes across the accounting landscape, including auditing and tax. ©2009 American Accounting Association

Bob Jensen's threads on accountancy doctoral programs are at
http://www.trinity.edu/rjensen/theory01.htm#DoctoralPrograms

Some Things You Might Want to Know About the Wolfram Alpha (WA) Search Engine:  The Good and The Evil
as Applied to Learning Curves (Cumulative Average vs. Incremental Unit)
http://www.trinity.edu/rjensen/theorylearningcurves.htm

Bob Jensen's threads on accounting theory ---
http://www.trinity.edu/rjensen/theory01.htm

Tom Lehrer on Mathematical Models and Statistics ---
http://www.youtube.com/watch?v=gfZWyUXn3So

Systemic problems of accountancy (especially the vegetable nutrition paradox) that probably will never be solved ---
http://www.trinity.edu/rjensen/FraudConclusion.htm#BadNews

For earlier editions of Tidbits go to http://www.trinity.edu/rjensen/TidbitsDirectory.htm
For earlier editions of New Bookmarks go to http://www.trinity.edu/rjensen/bookurl.htm 

Click here to search Bob Jensen's web site if you have key words to enter --- Search Site.
For example if you want to know what Jensen documents have the term "Enron" enter the phrase Jensen AND Enron. Another search engine that covers Trinity and other universities is at http://www.searchedu.com/.

For earlier editions of Tidbits go to http://www.trinity.edu/rjensen/TidbitsDirectory.htm
For earlier editions of New Bookmarks go to http://www.trinity.edu/rjensen/bookurl.htm 

Bob Jensen's threads on accounting novels, plays, and movies ---
http://www.trinity.edu/rjensen/AccountingNovels.htm

Rick Lillie's education, learning, and technology blog is at http://iaed.wordpress.com/

Modern Science and Ancient Wisdom  --- http://www.trinity.edu/rjensen/theory01.htm#AncientWisdom

"A Wisdom 101 Course!" February 15, 2010 ---
http://www.simoleonsense.com/a-wisdom-101-course/

"Overview of Prior Research on Wisdom," Simoleon Sense, February 15, 2010 ---
http://www.simoleonsense.com/overview-of-prior-research-on-wisdom/

"An Overview Of The Psychology Of Wisdom," Simoleon Sense, February 15, 2010 ---
http://www.simoleonsense.com/an-overview-of-the-psychology-of-wisdom/

"Why Bayesian Rationality Is Empty, Perfect Rationality Doesn’t Exist, Ecological Rationality Is Too Simple, and Critical Rationality Does the Job,"
Simoleon Sense, February 15, 2010 --- Click Here
http://www.simoleonsense.com/why-bayesian-rationality-is-empty-perfect-rationality-doesn%e2%80%99t-exist-ecological-rationality-is-too-simple-and-critical-rationality-does-the-job/

Great Minds in Management:  The Process of Theory Development --- http://www.trinity.edu/rjensen//theory/00overview/GreatMinds.htm

Great Minds in Sociology ---
http://www.sociosite.net/topics/sociologists.php
Also see Also see http://www.sociologyprofessor.com/ 

Bob Jensen's threads on theory and research ---
http://www.trinity.edu/rjensen/theory01.htm

Bob Jensen's threads on accounting novels are at
http://www.trinity.edu/rjensen/AccountingNovels.htm

 
I see from my house by the side of the road
By the side of the highway of life,
The men who press with the ardor of hope,
The men who are faint with the strife,
But I turn not away from their smiles and tears,
Both parts of an infinite plan-
Let me live in a house by the side of the road
And be a friend to man.
Sam Walter Foss (1858-1911)

For earlier editions of Tidbits go to http://www.trinity.edu/rjensen/tidbitsdirectory.htm

For earlier editions of New Bookmarks go to http://www.trinity.edu/rjensen/bookurl.htm 

Teaching History With Technology --- http://www.thwt.org/
Some these ideas apply to accounting history and accounting education in general

"U. of Manitoba Researchers Publish Open-Source Handbook on Educational Technology," by Steve Kolowich, Chronicle of Higher Education, March 19, 2009 --- http://chronicle.com/wiredcampus/index.php?id=3671&utm_source=wc&utm_medium=en

Bob Jensen's threads on accounting novels, plays, and movies ---
http://www.trinity.edu/rjensen/AccountingNovels.htm

Bob Jensen's threads on tricks and tools of the trade ---  http://www.trinity.edu/rjensen/000aaa/thetools.htm

Bob Jensen's threads on education technology --- http://www.trinity.edu/rjensen/000aaa/0000start.htm

Inside Footnotes (advice from and for security analysts) ---
http://www.footnoted.com/inside-footnotes/ 

Bob Jensen's investment helpers ---
http://www.trinity.edu/rjensen/Bookbob1.htm#InvestmentHelpers


Comparisons of IFRS with Domestic Standards of Many Nations
http://www.iasplus.com/country/compare.htm

More Detailed Differences (Comparisons) between FASB and IASB Accounting Standards

2011 Update

"IFRS and US GAAP: Similarities and Differences" according to PwC (2011 Edition)
http://www.pwc.com/us/en/issues/ifrs-reporting/publications/ifrs-and-us-gaap-similarities-and-differences.jhtml
Note the Download button!
Note that warnings are given throughout the document that the similarities and differences mentioned in the booklet are not comprehensive of all similarities and differences. The document is, however, a valuable addition to students of FASB versus IASB standard differences and similarities.

It's not easy keeping track of what's changing and how, but this publication can help. Changes for 2011 include:

  • Revised introduction reflecting the current status, likely next steps, and what companies should be doing now
    (see page 2);
  • Updated convergence timeline, including current proposed timing of exposure drafts, deliberations, comment periods, and final standards
    (see page 7)
    ;
  • More current analysis of the differences between IFRS and US GAAP -- including an assessment of the impact embodied within the differences
    (starting on page 17)
    ; and
  • Details incorporating authoritative standards and interpretive guidance issued through July 31, 2011
    (throughout)
    .

This continues to be one of PwC's most-read publications, and we are confident the 2011 edition will further your understanding of these issues and potential next steps.

For further exploration of the similarities and differences between IFRS and US GAAP, please also visit our IFRS Video Learning Center.

To request a hard copy of this publication, please contact your PwC engagement team or contact us.

Jensen Comment
My favorite comparison topics (Derivatives and Hedging) begin on Page 158
The booklet does a good job listing differences but, in my opinion, overly downplays the importance of these differences. It may well be that IFRS is more restrictive in some areas and less restrictive in other areas to a fault. This is one topical area where IFRS becomes much too subjective such that comparisons of derivatives and hedging activities under IFRS can defeat the main purpose of "standards." The main purpose of an "accounting standard" is to lead to greater comparability of inter-company financial statements. Boo on IFRS in this topical area, especially when it comes to testing hedge effectiveness!

One key quotation is on Page 165

IFRS does not specifically discuss the methodology of applying a critical-terms match in the level of detail included within U.S. GAAP.
Then it goes yatta, yatta, yatta.

Jensen Comment
This is so typical of when IFRS fails to present the "same level of detail" and more importantly fails to provide "implementation guidance" comparable with the FASB's DIG implementation topics and illustrations.

I have a huge beef with the lack of illustrations in IFRS versus the many illustrations in U.S. GAAP.

I have a huge beef with the lack of illustrations in IFRS versus the many illustrations in U.S. GAAP.

I have a huge beef with the lack of illustrations in IFRS versus the many illustrations in U.S. GAAP.

Bob Jensen's threads on accounting standards setting controversies ---
http://www.trinity.edu/rjensen/Theory01.htm#MethodsForSetting

Comparisons of IFRS with Domestic Standards of Many Nations
http://www.iasplus.com/country/compare.htm

 


Chris Deeley in Australia and I have been corresponding regarding an antique learning curve paper that I published nearly 20 years ago. You can read some of our correspondence at http://www.trinity.edu/rjensen/theorylearningcurves.htm
In that correspondence I discuss the good and evil of the Wolfram Alpha computational search engine.

Instructors might want to consider adding this to their teaching modules on time value of money and annuity mathematics of finance.

Working Paper 440
Annuities With Unequal Compounding and Payment Periods:  The CFA Deconstruction Analysis
Bob Jensen at Trinity University

Financial calculators and Excel financial formulas for computing present value, interim payments, and rates of return assume that p=m where p is the number of equally-spaced payments per year and m is the number equally-spaced interest compoundings per year. Complications introduced by p not being equal to m are not trivial problems. These complications are overlooked in many (probably almost all) mathematics of finance modules in both high school and college courses.

 

This note will demonstrate how to deal with complications when the number of payments per year is unequal to the number in times interest is compounded per year. This is not a purely academic problem. Companies buying and selling annuities often do not want to change the number of times interest is compounded every time they change the number of payments per year in a contract such as semi-annual payments versus quarterly payments versus monthly payments.

 

The paper was inspired by the following working paper sent to me by an Australian professor named Chris Deeley. Chris subsequently allowed me to put his paper on one of my Web servers:

"IDENTIFICATION AND CORRECTION OF A COMMON ERROR IN GENERAL ANNUITY CALCULATIONS"
by Chris Deeley  cdeeley@csu.edu.au 
Working Paper, Charles Sturt University, Australia, September 22, 2010
http://www.cs.trinity.edu/~rjensen/temp/DeeleyAnnuityCorrections.pdf

For illustrative purposes I will focus on the following example on Page 11 of Professor Deeley's working paper:

Example 2
A loan of $1million is to be repaid in equal monthly installments over four years. If the annual interest rate is 10% compounded semi-annually, how much is the monthly repayment?

 

The two solutions given by Professor Deeley for p=12 payments per year and m=2 interest compoundings per year are as follows:

Deeley Solution 1 PMT = $25,265.60 per month which Professor Deeley claims the "conventional solution"

Deeley Solution 2 PMT = $25,260.70 per month which Professor Deeley claims is his "proposed better solution"

 

I contend that there is a CFA Deconstruction and Rate Equivalence solution that I offer as an "alternate conventional solution" used of Certified Financial Analyst (CFA) examinations.

CFA Deconstruction PMT = $25,483 per month which conforms to David Frick's solution tutorial

I show how to calculate this $25,483 using both Wolfram Alpha and Excel in my Working Paper 440 ---
Bob Jensen's analysis of Annuities With Unequal Compounding and Payment Periods:  The CFA Deconstruction Analysis
 http://www.trinity.edu/rjensen/TheoryAnnuity01.htm


From the AICPA
Overview of Certified in Financial Forensics (CFF) Credential --- Click Here
http://www.aicpa.org/InterestAreas/ForensicAndValuation/Membership/Pages/Overview Certified in Financial Forensics Credential.aspx 

Forensic Accounting Helper Site

December 7, 2011 message from Emma

Hi Bob,

Thanks for getting back to me!

When I graduated from college I realized that forensic accounting was something that a lot of fellow students were really interested in. However, people knew very little about what it was or how their skills could be applied to a career in the field. Basically, I'm trying to create something that acts as both an educational resource and a primer/gateway for people who want to learn more about the academic and professional nature of forensic accounting. The site is located here: http://www.forensicaccounting.net , and I'd really appreciate any feedback you might have. If you like it, I'd be great if you could include it on your site as a resource for others.

Thanks again!

Cheers,
Emma

Jensen Comment
The University of West Virginia now has a "Graduate Certificate in Forensic Accounting and Fraud Investigation (FAFI)" ---
http://www.be.wvu.edu/fafi/index.htm 

Forensic accountants in demand

The widespread growth in white-collar crime and the increased need for homeland security have greatly raised the demand for forensic accountants, fraud investigators and for auditors who posses those skills. Federal, state, and local governmental agencies, such as the Securities and Exchange Commission, the Internal Revenue Service, and the Offices of Inspector General all need accountants with forensic investigation skills. In the private sector, recent legislation (Sarbanes-Oxley Act of 2002) and auditing standards (Statement on Auditing Standard No. 99) require companies and their auditors to be more aggressive in detecting and preventing fraud.

A unique program to answer the need

The Division of Accounting has responded to this demand by developing an academic program designed to prepare entry-level accountants and others for forensic accounting and fraud investigative careers. Although many schools have added a single graduate or undergraduate course to their curricula, very few offer a multi-course graduate certificate program. This program is the only one in the region.

The 12-credit graduate Certificate Program in Forensic Accounting and Fraud Investigation (FAFI) is offered during the summer. Students may take two paths to earn this certificate:

WVU developed the National Curriculum

Drs. Richard Riley and Bonnie Morris led the effort to develop national curriculum guidelines for fraud and forensic accounting programs for the National Institute of Justice.

Journal of Forensic Accounting ---
http://maaw.info/JournalOfForensicAccounting.htm

Journal of Forensic & Investigative Accounting ---
http://maaw.info/JournalOfForensicAndInvestigativeAccounting.htm

Association of Certified Fraud Examiners --- http://www.acfe.com/

A Simple Guide to Understanding Forensic Accounting --- http://www.forensicaccounting.net/
Thank you Jim Martin for the heads up.

 


Chris Deeley in Australia and I have been corresponding regarding an antique learning curve paper that I published nearly 20 years ago. You can read some of our correspondence at http://www.trinity.edu/rjensen/theorylearningcurves.htm
In that correspondence I discuss the good and evil of the Wolfram Alpha computational search engine.

Instructors might want to consider adding this to their teaching modules on time value of money and annuity mathematics of finance.

Working Paper 440
Annuities With Unequal Compounding and Payment Periods:  The CFA Deconstruction Analysis
Bob Jensen at Trinity University

Financial calculators and Excel financial formulas for computing present value, interim payments, and rates of return assume that p=m where p is the number of equally-spaced payments per year and m is the number equally-spaced interest compoundings per year. Complications introduced by p not being equal to m are not trivial problems. These complications are overlooked in many (probably almost all) mathematics of finance modules in both high school and college courses.

 

This note will demonstrate how to deal with complications when the number of payments per year is unequal to the number in times interest is compounded per year. This is not a purely academic problem. Companies buying and selling annuities often do not want to change the number of times interest is compounded every time they change the number of payments per year in a contract such as semi-annual payments versus quarterly payments versus monthly payments.

 

The paper was inspired by the following working paper sent to me by an Australian professor named Chris Deeley. Chris subsequently allowed me to put his paper on one of my Web servers:

"IDENTIFICATION AND CORRECTION OF A COMMON ERROR IN GENERAL ANNUITY CALCULATIONS"
by Chris Deeley  cdeeley@csu.edu.au 
Working Paper, Charles Sturt University, Australia, September 22, 2010
http://www.cs.trinity.edu/~rjensen/temp/DeeleyAnnuityCorrections.pdf

For illustrative purposes I will focus on the following example on Page 11 of Professor Deeley's working paper:

Example 2
A loan of $1million is to be repaid in equal monthly installments over four years. If the annual interest rate is 10% compounded semi-annually, how much is the monthly repayment?

 

The two solutions given by Professor Deeley for p=12 payments per year and m=2 interest compoundings per year are as follows:

Deeley Solution 1 PMT = $25,265.60 per month which Professor Deeley claims the "conventional solution"

Deeley Solution 2 PMT = $25,260.70 per month which Professor Deeley claims is his "proposed better solution"

 

I contend that there is a CFA Deconstruction and Rate Equivalence solution that I offer as an "alternate conventional solution" used of Certified Financial Analyst (CFA) examinations.

CFA Deconstruction PMT = $25,483 per month which conforms to David Frick's solution tutorial

I show how to calculate this $25,483 using both Wolfram Alpha and Excel in my Working Paper 440 ---
Bob Jensen's analysis of Annuities With Unequal Compounding and Payment Periods:  The CFA Deconstruction Analysis
 http://www.trinity.edu/rjensen/TheoryAnnuity01.htm


Question
What makes accounting popular as a major in college?

April 25, 2010 message from Fisher, Paul [PFisher@ROGUECC.EDU]

I am looking for information on why students choose accounting as a profession. I would like to take an inventory look on how our teaching practices impact student choice and if there are some changes we can or have made to increase interest in the accounting profession. The Accounting Education Change Commission advanced a number of concepts a few years ago. Have we changed our teaching? Do we know if having made those changes (or not) actually created a difference?

Thanks for your thoughts,

pf

 

April 25, 2010 reply from Bob Jensen

Hi Paul,

I think the importance of teaching changed greatly from the Roaring 1990s vis-à-vis the early years of the 21st Century after the tech bubble of the 1990s burst.

The 1980s and 1990s were the opportunity years for computer science, computer engineering, and finance majors. Demand for good students exceeded supply to a point in the 1990s where graduates in those majors were getting signing bonuses and even stock options before they even spent the first day on the job.

The point here is that during the tech bubble there was great competition for luring top students into a major. The Big Six accounting firms actually went to the American Accounting Association and complained that the traditional way accounting was taught was actually turning the top students away instead of attracting to brightest and best into accounting. The Big 6 put its money where its mouth was and pledged $4 million if the AAA would create an Accounting Education Change Commission (AECC) to conduct teaching and curriculum experiments for purposes of doing a better job in attracting top students into accounting as opposed to computer science, computer engineering, and finance.

You can read about the AECC at http://aaahq.org/market/display.cfm?catID=7

Volume No. 13. Position and Issues Statements of the Accounting Education Change Commission

By Accounting Education Change Commission (AECC). Published 1996, 80 pages.

During its 7-year existence the AECC adopted two position statements and six issues statements. The purpose of this publication is to provide a convenient resource document for all of these statements.

Members No charge–print or online
Nonmembers No charge–print or online

Volume No. 14. The Accounting Education Change Commission Grant Experience: A Summary

Edited by Richard E. Flaherty. Published 1998, 150 pages.

Members No charge–print or online
Nonmembers No charge–print or online

Volume No. 15. The Accounting Education Change Commission: Its History and Impact

By Gary L. Sundem. Published 1999, 96 pages.

Members No charge–print or online
Nonmembers No charge–print or online

 

The point here is that the large CPA firms and many, many accounting educators thought that failings of accounting teachers and curricula was making the profession of accounting not competitive in a hot student market during the 1990s tech bubble.

Then the 1990s tech bubble burst. At the turn of Century computer science and computer engineering entry-level jobs dried up to a point where supply of top graduates in those areas greatly exceeded demand. Not long afterwards, finance majors and MBA graduates also became a dime a dozen.

But the job market for accounting graduates seems to remain relatively steady across the economic cycles. This is due heavily to the willingness of the largest accounting firms to provide entry-level jobs to top accounting graduates. Also because of some problems caused by the 150-hour requirement, the big accounting firms solved many of our problems by greatly expanding the widely-popular internship programs as an attraction for students to major in accounting in spite of having to invest another year or more to meet the 150-hour requirement.

The bottom line is that how we teach varies in importance with respect to attracting top student to major in accounting. If the competition for top students is hot, teaching becomes more important and more thought is probably given to what sells. If the competition can be largely ignored, there is less clamor for accounting education change on a scale envisioned by the AECC.

Also the AECC experiments themselves did not lead to widely popular changes that spread like wild fire to other colleges and universities. Some AECC experiments can probably be deemed as failures in bringing about change in the programs where the experiments took place.

In fairness, the AECC grants were spent before the dawn of explosive changes in education and networking technology. We’ve seen great changes in how college courses in general are taught and how students communicate interactively with teachers and other students. Because of unfortunate timing, the AECC did not surf the wave of education technology.

Now you ask why some of the best students who probably ranked accounting at the bottom of their interest list when arriving as first year students on campus eventually rank accounting as their top choice as a major by the second or third year of college?

I think the answer is heavily due to factors outside of what accounting teachers do in the classroom.

 

2009 Best Places to Start/Intern According to Bloomberg/Business Week --- Click Here
Also see the Internship and Table links at http://www.businessweek.com/careers/special_reports/20091211best_places_for_interns.htm
The Top five rankings contain all Big Four accountancy firms.
Somehow Proctor and Gamble slipped into Rank 4 above PwC
The accountancy firms of Grant Thornton and RMS McGladrey make the top 40 at ranks 32 and 33 respectively.

Best Places to Intern --- http://www.businessweek.com/managing/content/dec2009/ca2009129_394659.htm?link_position=link1
I'm waiting for Francine to throw cold water on the "ever before" claim
Especially note the KPMG Experience Abroad module below
"Best Places to Intern:  Bloomberg BusinessWeek's 2009 list shows employers are hiring more interns to fill entry-level positions than ever before,"  by Lindsey Gerdes, Business Week, December 10, 2009 ---
http://www.businessweek.com/managing/content/dec2009/ca2009129_394659.htm?link_position=link1

How valuable is a summer internship in a recession? Consider Goldman Sachs, the leading choice for students interested in a career on Wall Street. This year, the investment bank hired 600 fewer entry-level employees. That's not surprising given the stunted economy and the government bailout of banks. What is noteworthy is nearly 90% of Goldman's new hires were former interns. The previous year, Goldman wasn't as concerned about hiring a high percentage of students it had already invested time and money to trainonly 58% of entry-level hires had spent a summer at the company.

The same is true for other employers. KPMG, a Big Four accounting firm that finds itself in tight competition with Deloitte, Ernst & Young, and PricewaterhouseCoopers, hired nearly 900 fewer entry-level employees this year. But 91% of those full-time hires were former interns, whereas only 71% of new hires in 2008 were interns.

Internships have long been seen as a primary recruiting tool at many top employers—a 10-week job tryout to see who would be the best fit for full-time employment. But with full-time hiring down, even the largest employers are trying to maximize the investment they've made in interns by hiring a larger percentage to fill entry-level position than ever before. "It's true for all years, but I think it's even more so in years like this," says Sandra Hurse, a senior executive at Goldman who handles campus recruiting.

Evaluating Employers

With this ranking, Bloomberg BusinessWeek has put together its third annual guide to the best internships, providing information on the number of interns each company recruits, how many are offered full-time jobs, the number of interns expected to be hired next year, even the salaries students receive.To compile our list, we judged employers based on survey data from 60 career services directors around the country and a separate survey completed by each employer.We also consider how each employer fared in the annual Best Places to Launch a Career, our ranking of top U.S. entry-level employers released in September of each year.

Our ranking of the best U.S.companies for undergraduate internships highlights employers who have put together an outstanding experience for students.Accounting firm Deloitte tops our list, followed by rivals KPMG (No.2) and Ernst & Young (No.3).The last of the Big Four accounting companies, PricewaterhouseCoopers, comes in at No.5, right behind consumer goods giant Procter & Gamble.

The employers on our list understand that an outstanding internship experience is their most effective recruiting tool to snap up the top entry-level job candidates. That's why some companies have invested a considerable amount of money in their programs. Microsoft, for example, estimates it spends on average $30,000 per intern, when you factor in pay and benefits. Considering the company hired 542 undergraduate interns in 2009, that's roughly a $16 million investment.

Experience Abroad

Two years ago KPMG realized it had to make a substantial investment in its internship program if it hoped to woo top students from larger consulting and accounting firms. So the company decided to offer interns an opportunity to gain valuable overseas experience. KPMG lets student interns spend four weeks in the U.S. and four weeks abroad. "It's extremely competitive [to recruit top students], and this is a differentiator," says Blane Ruschak, executive director of campus recruiting at KPMG.

A chance to work overseas is precisely what appealed to Andrew Fedele, 21, an accounting and economics double major at Pennsylvania State University. "I was sold pretty much when I first read about [KPMG's] global internship program." He spent four weeks in Chicago and four weeks in Johannesburg, South Africa. "South Africa has just such an interesting history. To go there and live with the locals and work with them was really exciting."

What did KPMG get in return? Exactly what it hoped: Fedele accepted a full-time job almost immediately after KPMG made its offer at the end of the summer.

Gerdes is a staff editor for BusinessWeek in New York.

Last year's rankings were similar --- Click Here
http://bigfouralumni.blogspot.com/search/label/Best Places to Launch a Career

"All Big Four Firms Are Best Companies To Work For In 2009," Big Four Blog, January 22, 2010 ---
http://bigfouralumni.blogspot.com/2010/01/all-big-four-firms-are-best-companies.html

All the Big Four firms recently made Fortune’s 2009 “100 Best Companies to Work For” list, though not at the very top as we have become very accustomed to seeing in BusinessWeek or Diversity or Working Mothers magazine. Nonetheless a very creditable performance against a tough crowd of equally impressive and quality peers. 2009 sported tougher competition as three of the five firms dropped rank from the 2008 listing.

In addition, we are seeing a varied picture with firms actively cutting positions to some minor increases at Deloitte and PwC from 2008 to 2009, in line with the general decrease in business for these firms in the Americas.

Check out our January 2009 blog post on the 2008 rankings


However, tough external conditions appear to have created some welcome bonuses for employees, either through additional holidays, a sabbatical program or less travel.

Fortune has a rigorous process to select these top companies, and with a large chunk of the selection process based on true employee responses, its hard to game this list, so makes the results reliable. It conducts the most extensive employee survey in corporate America with 347 companies in the overall pool. Two-thirds of a company's score is based on the results of survey sent to a random sample of employees from each company with questions on attitudes management's credibility, job satisfaction, and camaraderie. The other third of the scoring is based on the company's responses on pay and benefit programs, hiring, communication, and diversity.

Continued in article


Profitability:  Based on 300,000 companies, most with annual sales under $10 million. One takeaway: Specialization pays off

What a great Rank 1 slide for college recruitment of accounting majors  ---
http://www.forbes.com/2010/04/15/most-profitable-small-businesses-entrepreneurs-finance-sageworks_slide_21.html

The most profitable niche of the bunch (CPA bunch) enjoys a nice mix of pricing power (everybody needs accountants, no matter how the economy is doing), low overhead and marketing scale, thanks to plenty of repeat clients.

Other Accounting Services comes it at Rank 3 ---
http://www.forbes.com/2010/04/15/most-profitable-small-businesses-entrepreneurs-finance-sageworks_slide_19.html

Various accounting, bookkeeping, billing and tax preparation services in any form, handled not necessarily by a Certified Public Accountant (see No. 1 on our list).

And at Rank 5 are Tax Preparation Services (one rank below dentist offices) ---
http://www.forbes.com/2010/04/15/most-profitable-small-businesses-entrepreneurs-finance-sageworks_slide_17.html

Who likes doing their taxes? Exactly.

"The Most Profitable Small Businesses," by Brett Nelson and Maureen Farrell, Forbes, April 15, 2010 ---
http://www.forbes.com/2010/04/15/most-profitable-small-businesses-entrepreneurs-finance-sageworks.html?boxes=entrepreneurschannelinentre 

The 20 Most Profitable Slide Show (The top line has a Next button) ---
http://www.forbes.com/2010/04/15/most-profitable-small-businesses-entrepreneurs-finance-sageworks_slide.html

Bob Jensen's threads on careers are at
http://www.trinity.edu/rjensen/bookbob1.htm#careers

 

And there, in a nutshell, you have the main reason why accounting became a much more popular major after the 1990s tech bubble burst.

Bob Jensen


March 24, 2010 message to the AECM

I think professors who do not open share extensively on the Web miss the boat.
Selfishness has its own punishments, and generosity has its own rewards.
Scroll most of the way down in this message for an example from XXXXX

Will Yancey was a pioneer in open sharing on the Web ---
http://www.trinity.edu/rjensen/Yancey.htm
Will made a very good living consulting and found that open sharing pays back enormously, much better in his case than any kind of paid advertising. But if you would’ve known Will you would’ve also discovered that he shared openly out of the kindness of his big heart. I doubt that he even thought about payback when he commenced to open share so generously.

I was also an early-on open sharing professor and never once did so with the thought of payback in mind. However, I am forwarding the message below to show that once of the benefits of open sharing is payback ---
http://www.trinity.edu/rjensen/threads.htm

Once again, however, I stress that I would open share if there was not a penny of monetary payback. I open share because it makes me feel good to make a difference in the academy of professors and students.

When you do open share technical content, potential clients find your work using Google, Bing, and other Web crawlers.
I think professors who do not open share extensively miss the boat.
Selfishness has its own punishments, and generosity has its own rewards.

My threads on this type of problem are at
http://www.trinity.edu/rjensen/acct5341/speakers/133swapvalue.htm

My excel workbook contains an “Effective” spreadsheet at in the 133ex05a.xls file at
http://www.cs.trinity.edu/~rjensen/

I also provide a 133ex05a.wmv video at
http://www.cs.trinity.edu/~rjensen/video/acct5341/

How I made my money consulting ---
http://www.trinity.edu/rjensen/theory01.htm#ConsultingMoney

My Outstanding Educator Award Speech ---
http://www.trinity.edu/rjensen/000aaa/AAAaward_files/AAAaward02.htm

 Bob Jensen

From: XXXXX
Sent: Wednesday, March 24, 2010 4:26 PM
To: Jensen, Robert
Subject: Interest Rate Swap Valuation?

Hi Bob,

I found you on the internet. We are doing a Dec 31 2009 audit and our client obtained a mortgage loan in 2009, and entered into a fixed rate mortgage rate swap on the loans interest. I would like to get a fair value quote for the swap at Dec. 31,2009. Would you be available to consult with us on this valuation? Please advise interest and your fee?

 


Some Accounting News Sites and Related Links
Bob Jensen at Trinity University

Accounting  and Taxation News Sites --- http://www.trinity.edu/rjensen/AccountingNews.htm

Accounting program news items for colleges are posted at http://www.accountingweb.com/news/college_news.html
Sometimes the news items provide links to teaching resources for accounting educators.
Any college may post a news item.

Also note the Student Zone
AccountingWeb Student Zone --- http://www.accountingweb.com/news/student_zone.html

Fraud News --- http://www.trinity.edu/rjensen/AccountingNews.htm

XBRL News --- http://www.trinity.edu/rjensen/AccountingNews.htm

Selected Accounting History Sites --- http://www.trinity.edu/rjensen/AccountingNews.htm

Hasselback's Accounting Faculty Directory (Online and Hardcopy) --- http://www.trinity.edu/rjensen/AccountingNews.htm

Some of Bob Jensen's Pictures and Stories --- http://www.trinity.edu/rjensen/AccountingNews.htm

Free Tutorials, Videos, and Other Helpers --- http://www.trinity.edu/rjensen/AccountingNews.htm

Bob Jensen's gateway to millions of other blogs and social/professional networks ---
http://www.trinity.edu/rjensen/ListservRoles.htm

Bob Jensen's Threads --- http://www.trinity.edu/rjensen/threads.htm

Bob Jensen's Blogs --- http://www.trinity.edu/rjensen/JensenBlogs.htm
Current and past editions of my newsletter called New Bookmarks --- http://www.trinity.edu/rjensen/bookurl.htm
Current and past editions of my newsletter called Tidbits --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Current and past editions of my newsletter called Fraud Updates --- http://www.trinity.edu/rjensen/FraudUpdates.htm
Bob Jensen's past presentations and lectures --- http://www.trinity.edu/rjensen/resume.htm#Presentations   

Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

Peter, Paul, and Barney: An Essay on 2008 U.S. Government Bailouts of Private Companies ---
http://www.trinity.edu/rjensen/2008Bailout.htm

Health Care News --- http://www.trinity.edu/rjensen/Health.htm

Bob Jensen's Resume --- http://www.trinity.edu/rjensen/Resume.htm


 

Concerns That Academic Accounting Research is Out of Touch With Reality

I think leading academic researchers avoid applied research for the profession because making seminal and creative discoveries that practitioners have not already discovered is enormously difficult. Accounting academe is threatened by the twin dangers of fossilization and scholasticism (of three types: tedium, high tech, and radical chic)
From http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm
 

“Knowledge and competence increasingly developed out of the internal dynamics of esoteric disciplines rather than within the context of shared perceptions of public needs,” writes Bender. “This is not to say that professionalized disciplines or the modern service professions that imitated them became socially irresponsible. But their contributions to society began to flow from their own self-definitions rather than from a reciprocal engagement with general public discourse.”

 

Now, there is a definite note of sadness in Bender’s narrative – as there always tends to be in accounts of the shift from Gemeinschaft to Gesellschaft. Yet it is also clear that the transformation from civic to disciplinary professionalism was necessary.

 

“The new disciplines offered relatively precise subject matter and procedures,” Bender concedes, “at a time when both were greatly confused. The new professionalism also promised guarantees of competence — certification — in an era when criteria of intellectual authority were vague and professional performance was unreliable.”

But in the epilogue to Intellect and Public Life, Bender suggests that the process eventually went too far. “The risk now is precisely the opposite,” he writes. “Academe is threatened by the twin dangers of fossilization and scholasticism (of three types: tedium, high tech, and radical chic). The agenda for the next decade, at least as I see it, ought to be the opening up of the disciplines, the ventilating of professional communities that have come to share too much and that have become too self-referential.”

 

What went wrong in accounting/accountics research? 
How did academic accounting research become a pseudo science?
http://www.trinity.edu/rjensen/theory01.htm#WhatWentWrong

 

574 Shields Against Validity Challenges in Plato's Cave ---
http://www.trinity.edu/rjensen/TheoryTAR.htm

What went wrong in accounting/accountics research?  ---
http://www.trinity.edu/rjensen/theory01.htm#WhatWentWrong

The Sad State of Accountancy Doctoral Programs That Do Not Appeal to Most Accountants ---
http://www.trinity.edu/rjensen/theory01.htm#DoctoralPrograms

AN ANALYSIS OF THE EVOLUTION OF RESEARCH CONTRIBUTIONS BY THE ACCOUNTING REVIEW: 1926-2005 ---
http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm#_msocom_1

Bob Jensen's threads on accounting theory ---
http://www.trinity.edu/rjensen/theory01.htm

Tom Lehrer on Mathematical Models and Statistics ---
http://www.youtube.com/watch?v=gfZWyUXn3So

Systemic problems of accountancy (especially the vegetable nutrition paradox) that probably will never be solved ---
http://www.trinity.edu/rjensen/FraudConclusion.htm#BadNews


Pete Wilson provides some great videos on how to make accounting judgments ---
http://www.navigatingaccounting.com/


The “Professional Judgment” Problem: Do the ends justify the means?

"The “Professional Judgment” Problem," by David Albrecht, The Summa, February 11, 2010 ---
http://profalbrecht.wordpress.com/2010/02/11/the-professional-judgment-problem/

There’s quite a discussion going on over at AECM now, centered around whether or not corporate disclosures via XBRL tagged data will be audited, and therefore receive some sort of assurance blessing.

One professor whom I respect a great deal is arguing that it is in the best interest of companies to make the best and most honest disclosures as they seek to raise capital, and it is in the best interest of auditors to associate themselves with only those companies that make the best and most honest disclosures via XBRL (and presumably via financial statements, also).

To which I say: hogwash!

I’ve seen enough corporate reporting shenanigans, and auditor “nod-and-wink” assurance, that I have concluded that there are indeed sufficient incentives in place for corporate agents to try to game the system by mis-reporting financial results. I don’t see why, if there is substantial non-compliance with GAAP, that XBRL tagging would be a refuge of purity. Moreover, there are incentives in place for auditors to fail to object to minor transgressions. Some of the times, the incentives are sufficiently large so that auditors fail to object to major transgressions. I guess I don’t see why assurance on XBRL reporting will be any different.

I certainly don’t trust corporate executives or auditors, as classes, to properly exercise “professional” judgment. Oh, proper judgment may be exercised more than half the time of the time, but given the risk averse nature of many investors, it is enough for a few bad apples to give the rest a bad name. It is the many examples of bad reporting and bad auditing (while admittedly in the minority) that are enough to destroy trust.

A spouse only need go wayward one time in order to destroy any trust the other felt. From that point on, the wayward spouse may be preceived to be untrustworthy even though a majority of days end without an unsanctioned hookup.

I believe it is not always in a company’s best interest to make an honest disclosure, and it is not always in an auditor’s interest to demand proper accounting. That is because many costs to misbehaving are long-term, but the rewards for transgressing are short term in nature. When making certain decisions, sometimes the focus of either corporate executive or auditor can shift to the short-term on a moment’s notice.

Continued in article

Jensen Comment
David has entered into the very controversial "little white lie" rationalization of deception. The truth should stand on its own in financial reporting, because once we start rationalizing little white lies we never no when to stop. Pretty soon a thousand dollar white lies here and a hundred dollar white lies there begin to accumulate until we have over a billion dollar accumulation of lies --- which is exactly what happened in Worldcom.

If you really want to take up the debate of whether the ends justify the means, then have your students first watch the video of how Worldcom's Controller, David Meyers, at the time of the infractions justified his illegal actions on the premise that the ends justified the means --- because investors and employees in Worldcom would be better off by deceptive rather than honest accounting in the "short term."

June 15, 2009 message from Dennis Beresford [dberesfo@TERRY.UGA.EDU]

I apologize if this is something that has already been mentioned but I just became aware of a very interesting video of former WorldCom Controller David Meyers at Baylor University last March - http://www.baylortv.com/streaming/001496/300kbps_str.asx 

The first 20 minutes is his presentation, which is pretty good - but the last 45 minutes or so of Q&A is the best part. It is something that would be very worthwhile to show to almost any auditing or similar class as a warning to those about to enter the accounting profession.

Denny Beresford

Jensen Comment on Some Things You Can Learn from the Video
David Meyers became a convicted felon largely because he did not say no when his supervisor (Scott Sullivan, CFO)  asked him to commit illegal and fraudulent accounting entries that he, Meyers, knew were wrong. Interestingly, Andersen actually lost the audit midstream to KPMG, but KPMG hired the same same audit team that had been working on the audit while employed by Andersen. David Myers still feels great guilt over how much he hurt investors. The implication is that these auditors were careless in a very sloppy audit but were duped by Worldcom executives rather than be an actual part of the fraud. In my opinion, however, that the carelessness was beyond the pale --- this was really, really, really bad auditing and accounting.

At the time he did wrong, he rationalized that he was doing good by shielding Worldcom from bankruptcy and protecting employees, shareholders, and creditors. However, what he and other criminals at Worldcom did was eventually make matters worse. He did not anticipate this, however, when he was covering up the accounting fraud. He could've spent 65 years in prison, but eventually only served ten months in prison because he cooperated in convicting his bosses. In fact, all he did after the fact is tell the truth to prosecutors. His CEO, Bernard Ebbers, got 25 years and is still in prison.

The audit team while with Andersen and KPMG relied too much on analytical review and too little on substantive testing and did not detect basic accounting errors from Auditing 101 (largely regarding capitalization of over $1 billion expenses that under any reasonable test should have been expensed).

Meyers feels that if Sarbanes-Oxley had been in place it may have deterred the fraud. It also would've greatly increased the audit revenues so that Andersen/KPMG could've done a better job.

To Meyers' credit, he did not exercise his $17 million in stock options because he felt that he should not personally benefit from the fraud that he was a part of while it was taking place. However, he did participate in the fraud to keep his job (and salary). He also felt compelled to follow orders the CFO that he knew was wrong.

The hero is detecting the fraud was Worldcom's internal auditor Cynthia Cooper who subsequently wrote the book:
Extraordinary Circumstances: The Journey of a Corporate Whistleblower (Hoboken, New Jersey: John Wiley & Sons, Inc.. ISBN 978-0-470-12429) http://www.amazon.com/gp/reader/0470124296/ref=sib_dp_pt#

Meyers does note that the whistleblower, Cooper, is now a hero to the world, but when she blew the whistle she was despised by virtually everybody at Worldcom. This is a price often paid by whistleblowers --- http://www.trinity.edu/rjensen/FraudConclusion.htm#WhistleBlowing

Bob Jensen's threads on the Worldcom fraud are at http://www.trinity.edu/rjensen/FraudEnron.htm#WorldcomFraud

Pete Wilson provides some great videos on how to make accounting judgments ---
http://www.navigatingaccounting.com/

Other possible source material for ethics, independence, and professionalism courses is available at
http://www.trinity.edu/rjensen/fraud001.htm#Professionalism

 


A Special Tribute to My Open Sharing Friend Will Yancey ---
http://www.trinity.edu/rjensen/Yancey.htm

Giving Stuff Away Free on the Internet ---
http://www.trinity.edu/rjensen/ListservRoles.htm#Free 

Bob Jensen's Blogs --- http://www.trinity.edu/rjensen/JensenBlogs.htm
Current and past editions of my newsletter called New Bookmarks --- http://www.trinity.edu/rjensen/bookurl.htm
Current and past editions of my newsletter called Tidbits --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm
Current and past editions of my newsletter called Fraud Updates --- http://www.trinity.edu/rjensen/FraudUpdates.htm
Bob Jensen's past presentations and lectures --- http://www.trinity.edu/rjensen/resume.htm#Presentations   

Bob Jensen's Threads --- http://www.trinity.edu/rjensen/threads.htm

Bob Jensen's Summary of Accounting History and Accounting Theory --- http://www.trinity.edu/rjensen/theory01.htm

Creative Earnings Management, Agency Theory, and Accounting Manipulations to Cook the Books ---
http://www.trinity.edu/rjensen/theory01.htm#Manipulation

Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

Popular IFRS Learning Resources:
Check out the popular IFRS learning Deloitte link is http://www.deloitteifrslearning.com/  
Also see the free IFRS course (with great cases) --- Click Here
Also see the Virginia Tech IFRS Course --- Send a request to John Brozovsky [jbrozovs@VT.EDU]
Others --- http://www.trinity.edu/rjensen/theory01.htm#MethodsForSetting

CPA Exam to Undergo Transformation --- http://www.journalofaccountancy.com/Web/20092194.htm

I found from the UK that might be helpful for IFRS learning resources --- Click Here
http://www.icaew.com/index.cfm/route/150551/icaew_ga/en/Library/Links/Accounting_standards/IAS_IFRS/Sources_for_International_Financial_Reporting_Standards_IFRS_and_International_Accounting_Standards_IAS

FREE access to ANNUAL REPORTS in XBRL --- http://www.trinity.edu/rjensen/XBRLandOLAP.htm#TimelineXBRL
From EDGAR Online --- http://www.tryxbrl.org/

History of XBRL --- http://www.trinity.edu/rjensen/XBRLandOLAP.htm

XBRL News --- http://www.trinity.edu/rjensen/XBRLandOLAP.htm#TimelineXBRL

"TryXBRL.org Launched," SmartPros, March 28, 2008 ---  http://accounting.smartpros.com/x61325.xml

The new system is called IDEA, short for Interactive Data Electronic Applications. Based on a completely new architecture being built from the ground up, it will at first supplement and then eventually replace the EDGAR system. The decision to replace EDGAR marks the SEC’s transition from collecting forms and documents to making the information itself freely available to investors to give them better and more up-to-date financial disclosure in a form they can readily use.
SEC Announces Successor to EDGAR Database, 2008-179 --- http://www.sec.gov/news/press/2008/2008-179.htm

Free (updated) Basic Accounting Textbook --- search for Hoyle at
http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks

CPA Examination --- http://en.wikipedia.org/wiki/Cpa_examination
Free CPA Examination Review Course Courtesy of Joe Hoyle --- http://cpareviewforfree.com/

From EDGAR Online
FREE access to the latest ANNUAL REPORTS and PROSPECTUSES from hundreds of publicly traded companies and funds.

The Bea Sanders/AICPA Innovation in Teaching Award  --- Click Here  http://ceae.aicpa.org/Resources/Scholarships+and+Awards/The+Bea+Sanders+AICPA+Innovation+in+Teaching+Award.htm

American Accounting Association Awards --- http://aaahq.org/awards/InventoryofAwards08.pdf

Introducing the New journalofaccountancy.com  (free) --- http://www.journalofaccountancy.com/Issues/2008/Nov/NovSmartStops.htm

Peter, Paul, and Barney: An Essay on 2008 U.S. Government Bailouts of Private Companies ---
http://www.trinity.edu/rjensen/2008Bailout.htm

Finance Test Questions --- http://financetestquestions.wikispaces.com/

The Master List of Free Online College Courses --- http://universitiesandcolleges.org/

Free Online Textbooks, Videos, and Tutorials --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Free Tutorials in Various Disciplines --- http://www.trinity.edu/rjensen/Bookbob2.htm#Tutorials
Edutainment and Learning Games --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment
Open Sharing Courses --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
The Master List of Free Online College Courses ---
http://universitiesandcolleges.org/

Bob Jensen's threads for online worldwide education and training alternatives ---
http://www.trinity.edu/rjensen/Crossborder.htm

"U. of Manitoba Researchers Publish Open-Source Handbook on Educational Technology," by Steve Kolowich, Chronicle of Higher Education, March 19, 2009 --- http://chronicle.com/wiredcampus/index.php?id=3671&utm_source=wc&utm_medium=en

Social Networking for Education:  The Beautiful and the Ugly
(including Google's Wave and Orcut for Social Networking and some education uses of Twitter)
Updates will be at http://www.trinity.edu/rjensen/ListservRoles.htm

Bob Jensen's threads on Education/Learning Applications of ListServs, Blogs, Wikis, Social Networking, and Twitter in education are at
http://www.trinity.edu/rjensen/ListservRoles.htm


Bob Jensen's essay on the bailout's aftermath and an alphabet soup of appendices can be found at http://www.trinity.edu/rjensen/2008Bailout.htm


Hi Linda,

The National Library of the Accounting Profession at Ole Miss has a home page at http://www.olemiss.edu/depts/accountancy/libraries.html  

This includes a link to the Digital Collection in this library.
My reason for mentioning this is explained below.

In 1986 when Steve Zeff was President of the AAA, I was his Program Director for the annual meetings in the heart of Times Square (Marriott Marquis). Although NYC is always a relatively high priced hotel city and a rather poor choice for accompanying families with small children, NYC did have some huge advantages for me as program director and for registrants who attended some unique sessions in NYC.

The biggest advantage (aside from the private showing of CATS that I've already mentioned) was that we could get some top investment bankers from Wall Street to appear on the program. Those particular sessions were so well attended that people were packed into the meeting rooms like sardines. Those speakers would've never taken the time to take a day off to fly to be in a concurrent session of the AAA annual meetings. But they agreed to take the time off to take a cab to Times Square to be on our program.

I suspect that there will be similar advantages for the 2009 meetings in NYC if the AAA can arrange for parole of some of the top Wall Street speakers. It would really be nice to compare how the messages changed between 1986 and 2009.

I've already mentioned that, before I retired in 2006, I captured nearly two decades of video of sessions at accounting educator meetings, especially the American Accounting Association annual meetings. I suspect that some of those 1986 NYC sessions are among the 200+ videotapes that I donated to the National Library of the Accounting Profession at the University of Mississippi.

It may be necessary to travel to the University of Mississippi to view these tapes, but Dale Flesher can probably arrange it so researchers can view these and other archived presentations on my tapes. Dale has my only copies.

The National Library of the Accounting Profession at Ole Miss has a home page at http://www.olemiss.edu/depts/accountancy/libraries.html
This includes a link to the Digital Collection in this library, but these are only a small percentage of the recordings available in the library.

I mention my video tapes because in later years I taped two successive annual meeting presentations by Denny Beresford when, as Chairman of the FASB, his struggles to get FAS 119 and 133 launched were just getting started under a storm of controversy. People don't realize that the SEC virtually mandated that the FASB generate FAS 133. SEC Director told Denny that the “top three priorities at the FASB should be Derivatives, Derivatives, and Derivatives.”

I have made audio recordings of Denny's two successive sessions available online. Denny is not only an articulate speaker he has a great sense of humor. One of my all time favorite lines is when he referred to a "derivative as something a person my age takes when prunes just quite do the job."

To download the audio files of Dennis Beresford scroll down at http://www.cs.trinity.edu/~rjensen/000overview/mp3/133summ.htm

Bob Jensen


Systems for Delivering, Administering, and Archiving Accounting CPE

September 17, 2009 message from Tom Selling [tom.selling@GROVESITE.COM]

I have had some experience using LearnLive ( http://www.learnlive.com/cpe_compliance.html ), which is a comprehensive system for delivering/administering live and archived accounting CPE. It works very well, but is quite pricey.

Does anyone know of other systems that I can investigate for suitability. Although LearnLive is an all-in-one solution, I would be interested in other products that provide specialized pieces of the puzzle. In particular, I don’t know of any other software systems for tracking participation and automatically issuing CPE certificates.

Thanks very much,
Tom Selling

September 17, 2009 reply from Richard Campbell [campbell@RIO.EDU]

Tom:
Adobe Captivate 4 does quizzes and completion certificates. You also need a LMS like Moodle.

Another alternative to webex is www.ilinc.com  - they also have a "training room" capability. The key phrase to watch for in LMSs - is it SCORM compliant?

Richard J. Campbell

mailto:campbell@rio.edu

 


Skills and knowledge should be required as part of the pre-certification education of CPAs
Prompted by New York’s forthcoming adoption of the 150-hour requirement to sit for the CPA exam, the NYSSCPA’s Quality Enhancement Policy Committee drafted a white paper to encourage discussion on what skills and knowledge should be required as part of the pre-certification education of CPAs. This white paper, which was approved by the Society’s Board of Directors, is presented here, along with additional commentary from the NYSSCPA’s Higher Education Committee.
Quality Enhancement Policy Committee Sharon Sabba Fierstein, Chair, August 2008 --- http://www.nysscpa.org/cpajournal/2008/808/infocus/p26.htm

Mary-Jo Kranacher Editorial, CPA Journal, August 2008 --- http://www.nysscpa.org/cpajournal/2008/808/essentials/p80.htm

Specific requirements for becoming a CPA, and the rights and obligations of a licensed CPA, are set forth in the laws and regulations of 54 United States jurisdictions --- http://www.cpa-exam.org/global/boards.html

NASBA Tools --- http://www.nasbatools.com/display_page
NASBA Resources (Includes documents and audio files on knowledge requirements) --- http://www.nasba.org/nasbaweb/NASBAWeb.nsf/wpmtp?openform

Free and Fee CPA Review Courses --- http://www.trinity.edu/rjensen/Bookbob1.htm#010303CPAExam

Bob Jensen's threads on accountancy careers --- http://www.trinity.edu/rjensen/Bookbob1.htm#careers

"Pre-Med Education Must Be Compatible with Liberal Arts Ideals," by Timothy R. Austin, Inside Higher Ed, July 31, 2008 --- http://www.insidehighered.com/views/2008/07/31/austin

Also see http://www.trinity.edu/rjensen/HigherEdControversies.htm#CatFights

Creative Earnings Management, Agency Theory, and Accounting Manipulations to Cook the Books ---
http://www.trinity.edu/rjensen/theory01.htm#Manipulation


Accounting  and Taxation News Sites ---
http://www.trinity.edu/rjensen/AccountingNews.htm

 

For an elaboration on the reasons you should join a ListServ (usually for free) go to   http://www.trinity.edu/rjensen/ListServRoles.htm
AECM (Educators) http://listserv.aaahq.org/cgi-bin/wa.exe?HOME
AECM is an email Listserv list which provides a forum for discussions of all hardware and software which can be useful in any way for accounting education at the college/university level. Hardware includes all platforms and peripherals. Software includes spreadsheets, practice sets, multimedia authoring and presentation packages, data base programs, tax packages, World Wide Web applications, etc.

Over the years the AECM has become the worldwide forum for accounting educators on all issues of accountancy and accounting education, including debates on accounting standards, managerial accounting, careers, fraud, forensic accounting, auditing, doctoral programs, and critical debates on academic (accountics) research, publication, replication, and validity testing.

 

CPAS-L (Practitioners) http://pacioli.loyola.edu/cpas-l/  (Closed Down)
CPAS-L provides a forum for discussions of all aspects of the practice of accounting. It provides an unmoderated environment where issues, questions, comments, ideas, etc. related to accounting can be freely discussed. Members are welcome to take an active role by posting to CPAS-L or an inactive role by just monitoring the list. You qualify for a free subscription if you are either a CPA or a professional accountant in public accounting, private industry, government or education. Others will be denied access.
Yahoo (Practitioners)  http://groups.yahoo.com/group/xyztalk
This forum is for CPAs to discuss the activities of the AICPA. This can be anything  from the CPA2BIZ portal to the XYZ initiative or anything else that relates to the AICPA.
AccountantsWorld  http://accountantsworld.com/forums/default.asp?scope=1 
This site hosts various discussion groups on such topics as accounting software, consulting, financial planning, fixed assets, payroll, human resources, profit on the Internet, and taxation.
Business Valuation Group BusValGroup-subscribe@topica.com 
This discussion group is headed by Randy Schostag [RSchostag@BUSVALGROUP.COM
FEI's Financial Reporting Blog
Smart Stops on the Web, Journal of Accountancy, March 2008 --- http://www.aicpa.org/pubs/jofa/mar2008/smart_stops.htm
FINANCIAL REPORTING PORTAL
www.financialexecutives.org/blog

Find news highlights from the SEC, FASB and the International Accounting Standards Board on this financial reporting blog from Financial Executives International. The site, updated daily, compiles regulatory news, rulings and statements, comment letters on standards, and hot topics from the Web’s largest business and accounting publications and organizations. Look for continuing coverage of SOX requirements, fair value reporting and the Alternative Minimum Tax, plus emerging issues such as the subprime mortgage crisis, international convergence, and rules for tax return preparers.
The CAlCPA Tax Listserv

September 4, 2008 message from Scott Bonacker [lister@bonackers.com]
Scott has been a long-time contributor to the AECM listserv (he's a techie as well as a practicing CPA)

I found another listserve that is exceptional -

CalCPA maintains http://groups.yahoo.com/taxtalk/  and they let almost anyone join it.
Jim Counts, CPA is moderator.

There are several highly capable people that make frequent answers to tax questions posted there, and the answers are often in depth.

Scott

Scott forwarded the following message from Jim Counts

Yes you may mention info on your listserve about TaxTalk. As part of what you say please say [... any CPA or attorney or a member of the Calif Society of CPAs may join. It is possible to join without having a free Yahoo account but then they will not have access to the files and other items posted.

Once signed in on their Yahoo account go to http://finance.groups.yahoo.com/group/TaxTalk/ and I believe in top right corner is Join Group. Click on it and answer the few questions and in the comment box say you are a CPA or attorney, whichever you are and I will get the request to join.

Be aware that we run on the average 30 or move emails per day. I encourage people to set up a folder for just the emails from this listserve and then via a rule or filter send them to that folder instead of having them be in your inbox. Thus you can read them when you want and it will not fill up the inbox when you are looking for client emails etc.

We currently have about 830 CPAs and attorneys nationwide but mainly in California.... ]

Please encourage your members to join our listserve.

If any questions let me know.

Jim Counts CPA.CITP CTFA
Hemet, CA
Moderator TaxTalk

 

 

 

 

 

I especially recommend subscribing (for free) to the AECM --- http://pacioli.loyola.edu/aecm/ 

Other popular sources of news for accounting educators include the following:

International Accounting News (including the U.S.)

AccountingEducation.com and Double Entries --- http://www.accountingeducation.com/
        Upcoming international accounting conferences --- http://www.accountingeducation.com/events/index.cfm
       

Thousands of journal abstracts --- http://www.accountingeducation.com/journals/index.cfm

Deloitte's International Accounting News --- http://www.iasplus.com/index.htm

Association of International Accountants --- http://www.aia.org.uk/ 

 

Wikipedia has a rather nice summary of accounting software at http://en.wikipedia.org/wiki/Accounting_software
Bob Jensen’s accounting software bookmarks are at http://www.trinity.edu/rjensen/Bookbob1.htm#AccountingSoftwa
re

Bob Jensen's accounting history summary --- http://www.trinity.edu/rjensen/Theory01.htm#AccountingHistor
y

Bob Jensen's accounting theory summary --- http://www.trinity.edu/rjensen/Theory.htm

AccountingWeb --- http://www.accountingweb.com/

 

SmartPros --- http://www.smartpros.com/

 

I highly recommend TheFinanceProfessor (an absolutely fabulous and totally free newsletter from a very smart finance professor, Jim Mahar from St. Bonaventure University) --- http://www.financeprofessor.com/ 

 

Financial Rounds (from the Unknown Professor) --- http://financialrounds.blogspot.com/

 

News Headlines for Accounting from TheCycles.com --- http://www.thecycles.com/business/accounting 
 

An unbelievable number of other news headlines categories in TheCycles.com are at http://www.thecycles.com/ 

 

Tom Selling's blog The Accounting Onion (great on theory and practice) --- http://accountingonion.typepad.com/

Controversies in Higher Education --- http://www.trinity.edu/rjensen/HigherEdControversies.htm 

Bob Jensen's New Bookmarks --- http://www.trinity.edu/rjensen/Bookurl.htm 

More Than Accounting
Bob Jensen's Tidbits --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm 

 


CPA Examination --- http://en.wikipedia.org/wiki/Cpa_examination
Free CPA Examination Review Course --- http://cpareviewforfree.com/
AccountingWeb Student Zone --- http://www.accountingweb.com/news/student_zone.html 

Wikipedia has a rather nice summary of accounting software at http://en.wikipedia.org/wiki/Accounting_software

Bob Jensen’s accounting software bookmarks are at http://www.trinity.edu/rjensen/Bookbob1.htm#AccountingSoftware

Bob Jensen's accounting history summary --- http://www.trinity.edu/rjensen/Theory01.htm#AccountingHistory

Bob Jensen's accounting theory summary --- http://www.trinity.edu/rjensen/Theory.htm

Tom Selling's blog The Accounting Onion (great on theory and practice) --- http://accountingonion.typepad.com/

XBRL Networking --- http://xbrlnetwork.ning.com/

From EDGAR Online
FREE access to the latest ANNUAL REPORTS and PROSPECTUSES from hundreds of publicly traded companies and funds.

Truth in Accounting or Lack Thereof in the Federal Government (Former Congressman Chocola) --- http://www.youtube.com/watch?v=NWTCnMioaY0 
Part 2 (unfunded liabilities of $55 trillion plus) --- http://www.youtube.com/watch?v=1Edia5pBJxE
Part 3 (this is a non-partisan problem being ignored in election promises) --- http://www.youtube.com/watch?v=lG5WFGEIU0E

Watch the Video of the non-sustainability of the U.S. economy (CBS Sixty Minutes TV Show Video) ---
http://www.youtube.com/watch?v=OS2fI2p9iVs 
Also see "US Government Immorality Will Lead to Bankruptcy" in the CBS interview with David Walker --- http://www.youtube.com/watch?v=OS2fI2p9iVs
Also at Dirty Little Secret About Universal Health Care (David Walker) --- http://www.youtube.com/watch?v=KGpY2hw7ao8

 


Systems for Delivering, Administering, and Archiving Accounting CPE

September 17, 2009 message from Tom Selling [tom.selling@GROVESITE.COM]

I have had some experience using LearnLive ( http://www.learnlive.com/cpe_compliance.html ), which is a comprehensive system for delivering/administering live and archived accounting CPE. It works very well, but is quite pricey.

Does anyone know of other systems that I can investigate for suitability. Although LearnLive is an all-in-one solution, I would be interested in other products that provide specialized pieces of the puzzle. In particular, I don’t know of any other software systems for tracking participation and automatically issuing CPE certificates.

Thanks very much,
Tom Selling

September 17, 2009 reply from Richard Campbell [campbell@RIO.EDU]

Tom:
Adobe Captivate 4 does quizzes and completion certificates. You also need a LMS like Moodle.

Another alternative to webex is www.ilinc.com  - they also have a "training room" capability. The key phrase to watch for in LMSs - is it SCORM compliant?

Richard J. Campbell

mailto:campbell@rio.edu

Bob Jensen’s threads on course authoring, management, and delivery (including ToolBook 10) ---
http://www.trinity.edu/rjensen/000aaa/thetools.htm#Publish


History of Accounting, Ethics and The Sex of a Hippopotamus

September 18, 2009 question from Richard Bernstein [richard12815@GMAIL.COM]

What are the sources for CPA ethics, is it the state or the AICPA.

What guides a CPA's ethical obligations
_________________________________

Richard Bernstein
richard12815@gmail.com

September 18, 2009 reply from Paul Bjorklund [PaulBjorklund@AOL.COM]

Strict interpretation . . . State board of accountancy for all CPAs. And then, if you are a member of a voluntary organization, e.g., AICPA, their canons.

Paul Bjorklund, CPA
Bjorklund Consulting, Ltd.
Flagstaff, Arizona

September 18, 2009 reply from Bob Jensen

Since the Codes of Ethics are adopted in each state, the states, the states are clearly a major factor.

You might look in particular at the book

The Sex of a Hippopotamus: A Unique History of Taxes and Accounting  
by Jay Starkman
Twinset Inc., 2008, 456 pp.

You can read a Journal of Accountancy review of the book at
http://www.journalofaccountancy.com/Issues/2009/Apr/Hippopotamus

 The Sex of a Hippopotamus by Jay Starkman is a well-documented and interesting read for professionals in the accounting and tax fields. In particular, this book is appealing to instructors, retirees, recent accounting graduates and the hard-to-buy-for CPA.

The book begins with anecdotes of accounting careers, then documents the role of accounting in the world (with special emphasis on U.S. history), and ends with tax anecdotes of the rich and famous. Career chapters address accounting and pop culture myths such as the long hours (“in every 24 hours, there are three perfectly good eighthour chargeable days”), strict dress code, charitable requirements and difficult work environment. From Harry Potter to the Beatles song “Taxman,” artistic depiction of accountants ranges from boring to oppressive. Separating myth from reality takes experience and perspective.

Starkman would know. He is a recognized, practicing CPA in Atlanta with nearly 40 years of work experience in the field including audit, fraud and tax. Having worked for most of the Big Four firms and currently running his own public accounting firm, Starkman can be controversial. He compares the hours of a career in public accounting to the Japanese concept of karoshi, which loosely translates to “death from overwork,” repeating the saying, “Let’s go home while it’s still dark.” He addresses abusive tax shelters and internal control weaknesses for electronic tax filing. He evaluates changes to professional ethics over time, including changes in the ability to accept referral fees, continuing education requirements and the reliability of prepackaged tax software.

Similarly, the history of tax and accounting is not sugarcoated. He includes a discussion of California’s 1850 tax on foreign laborers (primarily Chinese and Latinos), highlights Russian ruler Peter the Great’s tax levied on beards, and European taxation of Jews from medieval times through World War II. For better or worse, Starkman names names.

Underneath it all, though, is a strong ethical reckoning. “Can an honest accountant succeed?” asks Starkman (implying the answer is, “Yes, but not without being tested”). Nearly every reader will find some parts of the book drier than others. Accounting historians may trivialize some of the personal experiences, whereas practitioners may only be generally interested in the Turkish capital tax. But there is enough of each area of accounting to make buying this book worthwhile and its reading enjoyable.

 

One place to include in your search for this answer is http://maaw.info/EthicsMain.htm

By the way, MAAW is a great site for finding accounting literature ---
http://maaw.info/

 Bob Jensen

September 19, 2009 reply from Becky Miller [itsyourmom@HOTMAIL.COM]

Are you looking looking for the technical rules? CPAs who practice tax are to follow the guidance of Circular 230 of the Treasury Department and the AICPA Statements of Standards for Tax Services. You can find Circular 230 at the IRS's web page and the SSTS's on the AICPA web page. The ethical standards for all licensed CPAs that are of particular impact on auditors are found on the AICPA web page at: http://www.aicpa.org/Professional+Resources/Professional+Ethics+Code+of+Professional+Conduct/Professional+Ethics/

The States have the first level of enforcement and issue their own sets of ethics standards. At one time I was licensed in 19 states and I can tell you from that experience, in general, the state rules followed the AICPA's rules with some differences in the interpretation of solicitation, what falls within the practice of accounting, etc.

Hope this helps - Becky Becky Miller 22339 510 Street Pine Island, MN 55963

Bob Jensen's threads on accounting history are at
http://www.trinity.edu/rjensen/theory01.htm#AccountingHistory


Ideas for Teaching Online --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Ideas
Also see the helpers for teaching in general at http://www.trinity.edu/rjensen/000aaa/thetools.htm

In a previous edition of Tidbits, I provided a summary of resources for learning how and being inspired to teach online --- http://www.trinity.edu/rjensen/000aaa/thetools.htm#Ideas 

I forgot to (and have since added) helpers for assessment (e.g. testing) online ---
http://www.trinity.edu/rjensen/assess.htm#OnlineOffCampus
Also see the helpers for assessment in general at http://www.trinity.edu/rjensen/assess.htm

Also I forgot to add some special considerations for detection and prevention of online cheating ---
http://www.trinity.edu/rjensen/assess.htm#OnsiteVersusOnline
Also see helpers for detection and prevention of cheating in general at
http://www.trinity.edu/rjensen/plagiarism.htm


Many useful accounting sites (scroll down) --- http://www.iasplus.com/links/links.htm

History of the U.S. Financial Accounting Standards Board (FASB) and earlier accounting standard setting in the United States --- http://www.trinity.edu/rjensen/Theory01.htm#AccountingHistory

History of the International Accounting Standards Board (IASB) ---  http://www.iasb.org/About+Us/About+the+Foundation/History.htm
A more complete commentary on the history of the IASC and IASB by Paul Pacter --- http://www.trinity.edu/rjensen/acct5341/speakers/pacter.htm#001
Also see http://static.managementboek.nl/pdf/9780471726883.pdf

A timeline of accounting scandals and standards development can be found at http://www.trinity.edu/rjensen/FraudRotten.htm

Some of the many, many lawsuits settled by auditing firms can be found at http://www.trinity.edu/rjensen/Fraud001.htm


Question
How can you best publish books, including multimedia and user interactive books, on the Web?
Note that interactive books may have quizzes and examinations where answers are sent back for grading.

My Answers --- http://www.trinity.edu/rjensen/000aaa/thetools.htm


Bob Jensen's advice to new faculty --- http://www.trinity.edu/rjensen/000aaa/newfaculty.htm


Large International Accounting Firm History --- http://en.wikipedia.org/wiki/Big_Four_auditors


Free online textbooks and tutorials (including video tutorials) in accounting, economics, statistics, and other disciplines --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks

For Example Here Are Some Free Video Tutorials
Free Accounting Video (YouTube) Tutorials
May 27, 2008 message from Crosson, Susan
[susan.crosson@SFCC.EDU]

I have done both Financial and Managerial Accounting videos for my students and posted them on YouTube. They are free to anyone. In fact, they have been viewed by over 70,000 folks worldwide.

Here are the easy links organized by topic and chapter:

Financial:        
http://inst.sfcc.edu/~SCrosson/Fall 2007/Flip Videos Fall 2007/FA Videos.htm

Managerial:      http://inst.sfcc.edu/~SCrosson/Fall%202007/YouTube.htm 

or go to YouTube.com directly and input my account SusanCrosson or http://www.youtube.com/SusanCrosson 

If you have any other questions, glad to answer...
Susan Crosson

Other free accounting tutorials and textbooks --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks 


FASB's Accounting Standards Codification --- http://asc.fasb.org/home

FASB Master Glossary --- http://asc.fasb.org/glossary&letter=D

The FASB's Derivatives and Hedging Glossary (in the Accounting Standards Codification Database) ---
http://asc.fasb.org/subtopic&trid=2229141&nav_type=left_nav


I'm sharing some old (well relatively old) accounting theory quiz and exam material that I added to a folder at http://www.cs.trinity.edu/~rjensen/Calgary/CD/


Wikipedia has a rather nice summary of accounting software at http://en.wikipedia.org/wiki/Accounting_software
Bob Jensen’s accounting software bookmarks are at http://www.trinity.edu/rjensen/Bookbob1.htm#AccountingSoftware


"A Model Curriculum for Education in Fraud and Forensic Accounting," by Mary-Jo Kranacher, Bonnie W. Morris, Timothy A. Pearson, and Richard A. Riley, Jr., Issues in Accounting Education, November 2008. pp. 505-518  (Not Free) --- Click Here

There are other articles on fraud and forensic accounting in this November edition of IAE:

Incorporating Forensic Accounting and Litigation Advisory Services Into the Classroom Lester E. Heitger and Dan L. Heitger, Issues in Accounting Education 23(4), 561 (2008) (12 pages)]

West Virginia University: Forensic Accounting and Fraud Investigation (FAFI) A. Scott Fleming, Timothy A. Pearson, and Richard A. Riley, Jr., Issues in Accounting Education 23(4), 573 (2008) (8 pages)

The Model Curriculum in Fraud and Forensic Accounting and Economic Crime Programs at Utica College George E. Curtis, Issues in Accounting Education 23(4), 581 (2008) (12 pages)

Forensic Accounting and FAU: An Executive Graduate Program George R. Young, Issues in Accounting Education 23(4), 593 (2008) (7 pages)

The Saint Xavier University Graduate Program in Financial Fraud Examination and Management William J. Kresse, Issues in Accounting Education 23(4), 601 (2008) (8 pages)

Also see
"Strain, Differential Association, and Coercion: Insights from the Criminology Literature on Causes of Accountant's Misconduct," by James J. Donegan and Michele W. Ganon, Accounting and the Public Interest 8(1), 1 (2008) (20 pages)

Bob Jensen's Fraud Updates --- http://www.trinity.edu/rjensen/FraudUpdates.htm
Bob Jensen's threads on fraud --- http://www.trinity.edu/rjensen/Fraud.htm

FBI Corporate Fraud Chart in August 2008 --- http://www.aicpa.org/pubs/jofa/aug2008/ataglance.htm#Chart1.htm

A great blog on securities and accounting fraud --- http://lawprofessors.typepad.com/securities/

Forensic Accounting Course Materials

November 3, 2009 message from Eileen Taylor [eileen_taylor@NCSU.EDU]

Need advice on choosing a textbook for an MBA class on fraud (to be taken mostly by Master of Accounting students).

I am deciding between Albrecht's Fraud Examination and Hopwood's Forensic Accounting. I also plan to have students read Cynthia Cooper's book, Journey of a Corporate Whistleblower.

I will be teaching a three-week version of the course this summer as a study abroad, but also will be converting it into a 16 week semester-long 3 hour course.

Any suggestions would be helpful -

Thank you,
Eileen

November 3, 2009 reply from Bob Jensen

Hi Eileen,

I'm really not able to give you an opinion on either choice for a textbook. But before making a decision I always compared the end-of-chapter material and the solutions manual to accompany that material. If the publisher did not pay for good end-of-chapter material I always view the textbook to be a cheap shot. The end-of-chapter material is much harder to write than the chapter material itself.

I also look for real world cases and illustrations.

Don't forget the wealth of material, some free, at the site of the Association of Certified Fraud Examiners --- http://www.acfe.com/
I would most certainly consider using some of this material on homework and examinations.

Instead of a textbook you might use the ACFE online self-study materials ($79)  ---
Click Here

There is a wonderful range of topics covered ---
http://snipurl.com/acleselfstudy      [eweb_acfe_com]

Accounting and Auditing

Computers and Technology

Criminology and Ethics

Fraud Investigation

Fraud Schemes

Interviewing and Reporting

Legal Elements of Fraud

Spanish Titles

Bob Jensen

Forensic Accounting Helper Site

December 7, 2011 message from Emma

Hi Bob,

Thanks for getting back to me!

When I graduated from college I realized that forensic accounting was something that a lot of fellow students were really interested in. However, people knew very little about what it was or how their skills could be applied to a career in the field. Basically, I'm trying to create something that acts as both an educational resource and a primer/gateway for people who want to learn more about the academic and professional nature of forensic accounting. The site is located here: http://www.forensicaccounting.net , and I'd really appreciate any feedback you might have. If you like it, I'd be great if you could include it on your site as a resource for others.

Thanks again!

Cheers,
Emma

Jensen Comment
The University of West Virginia now has a "Graduate Certificate in Forensic Accounting and Fraud Investigation (FAFI)" ---
http://www.be.wvu.edu/fafi/index.htm 

Forensic accountants in demand

The widespread growth in white-collar crime and the increased need for homeland security have greatly raised the demand for forensic accountants, fraud investigators and for auditors who posses those skills. Federal, state, and local governmental agencies, such as the Securities and Exchange Commission, the Internal Revenue Service, and the Offices of Inspector General all need accountants with forensic investigation skills. In the private sector, recent legislation (Sarbanes-Oxley Act of 2002) and auditing standards (Statement on Auditing Standard No. 99) require companies and their auditors to be more aggressive in detecting and preventing fraud.

A unique program to answer the need

The Division of Accounting has responded to this demand by developing an academic program designed to prepare entry-level accountants and others for forensic accounting and fraud investigative careers. Although many schools have added a single graduate or undergraduate course to their curricula, very few offer a multi-course graduate certificate program. This program is the only one in the region.

The 12-credit graduate Certificate Program in Forensic Accounting and Fraud Investigation (FAFI) is offered during the summer. Students may take two paths to earn this certificate:

WVU developed the National Curriculum

Drs. Richard Riley and Bonnie Morris led the effort to develop national curriculum guidelines for fraud and forensic accounting programs for the National Institute of Justice.

Association of Certified Fraud Examiners --- http://www.acfe.com/

Bob Jensen's threads on fraud are at
http://www.trinity.edu/rjensen/Fraud.htm

 

 

 

Bob Jensen's threads on fraud and forensic accounting ---
http://www.trinity.edu/rjensen/Fraud.htm

 


Free online textbooks, cases, and tutorials in accounting, finance, economics, and statistics --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm#Textbooks
Scroll down to Accounting

Free CPA Review Course --- http://cpareviewforfree.com/

July 22, 2008 message from Dan Stone, Univ. of Kentucky [dstone@UKY.EDU]

Regarding the free CPA Review Course --- http://cpareviewforfree.com/ 

1. Should I recommend this site as a CPA prep resource for students? What are the time &/or financial costs to students?

2. What's their business model?

Thanks,

Dan S.

July 22, 2008 reply from Bob Jensen

Hi Dan,

Answer to Question 2
This appears to be pretty much a public service site run by three old guys interested in helping people study for the CPA exam --- http://cpareviewforfree.com/about.cfm 
My hat is off to them if there is no hidden agenda. If there is a hidden agenda, I can't find it.

It's possible that one or more of them might be engaged privately or by a firm to conduct workshops on CPA Exam Review, but the site does not advertise this nor does it even mention that any of the three old guys are interested in conducting this added custom service for a fee.

Answer to Question 1
The Becker Course is expensive, live (with lots of video onsite), and great for kicking butts of students prone to procrastinating --- who tend to find excuses for delaying studying on their own.

The above free CPA Exam review site seems to be great for students who are organized with their study time and self-motivated (read that driven).

To be honest, the free CPA review site is all that I would've needed because all I did was devote five hours religiously each week for about five months of my senior year in college to studying old CPA exam questions and answers. Back in 1960 in Colorado we could take the exam before we graduated in the undergraduate program.

I passed the exam the first time that way, but I worked with a good friend (call him Don) in the Ernst and Ernst office who had to take the CPA exam four times to pass all the parts. I worked part-time for E&E whereas he worked full time. He also had a wife and two young babies. I was a ski bum on weekends but studied by tail off five days a week for my courses, my CPA Exam review, and my E&E job in the afternoons.

I think Don did not pass the CPA exam because he always found reasons or excuses to procrastinate studying for the exam. No Becker kick-butt course was available in those days!

I went on to Stanford and became a low-paid accounting professor. Don stayed with E&E and eventually became the high paid managing partner of the Denver Office. Go figure. The CPA exam is just one stepping stone to success.

Of course, I've never regretted taking the road less traveled in those days. It was a great life being on the faculty of four universities over 40 years. Spending five years full time getting a PhD was enlightening and agonizing since it was an accounting PhD with no accounting courses. It might've had some accounting courses if I wasn't already a CPA and an MBA when I moved to Palo Alto. I became one of the early accountics research professors at the beginning of the perfect storm --- http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm
In retrospect it was much easier to publish accountics research than accounting research without equations.

Bob Jensen

 

 

Financial Executives International (FEI) free television --- http://www.financialexecutives.org/eweb/startpage.aspx?site=_fei

Personal Finance Helpers (more than ever, the public is worried about personal investment and savings)
From Smart Stops on the Web, Journal of Accountancy, July 2008

KEEPING IT SIMPLE
www.bargaineering.com/articles
This Smart Stop’s author puts together a “Blueprint for Financial Prosperity,” working and blogging through the complexities of personal finance. Articles include “Speed Up or Shift Up: Thinking About Your Income Path” and “Do You Have an Opportunity Fund?” Also find tax and investing coverage, plus reviews of financial planning and wealth management books. Every month, the author plays “Devil’s Advocate,” where he examines the other side of “mainstream” or “common sense” personal finance ideas. Recent “Advocate” posts include “Don’t Budget to the Penny” and “Don’t Just Buy Index Funds.”

THIS WEEK IN PERSONAL FINANCE
www.carnivalofpersonalfinance.com
The Carnival of Personal Finance touts itself as “a traveling weekly showcase of the best blog articles on the topic.” The carnival is hosted by a different guest blogger each week. In every edition, you’ll find links to the guest editor’s picks of the week, typically highlighting five to 10 posts from various sources, which feature expert advice on professional sites or regular-Joe experiences on personal sites. You can submit your own post for consideration, view the schedule of upcoming hosts or just browse the wealth of archived articles.

The AICPA maintains a financial literacy site at http://www.aicpa.org/financialliteracy/FeedThePig/

Bob Jensen's personal finance helpers are at http://www.trinity.edu/rjensen/Bookbob1.htm#InvestmentHelpers

 

 

The AICPA maintains a helper site for guidance on the replacement of FASB/SEC standards with IASB international standards --- http://www.ifrs.com/
Also see http://www.trinity.edu/rjensen/theory01.htm#MethodsForSetting
And see http://www.trinity.edu/rjensen/theory01.htm#FASBvsIASB


Bankruptcy Records from LexisNexis
The phrase “Bankruptcy Records” should be the clickable link to:
http://risk.lexisnexis.com/manage-bankruptcy-information 


I do not forward advertising requests form commercial vendors unless I feel that my "audience" would appreciate hearing about particular new products and services. This one is very important to some accounting researchers.

April 30, 2008 message from Tom Hardy [thardy@ivesinc.com]

Dear Professor Jensen,

I am writing to let you know about two new research modules available with the AuditAnalytics.com SEC research database. Specifically, our Litigation Module now tracks all material federal litigation involving Russell 3000 companies and all federal litigation involving the top 100 audit firms. This module contains over 12,500 cases in the database. It includes all securities class actions and SEC litigation filed since the year 2000.

In the next few months we also will be making available as an add-on our Advanced Restatement Data to include:

Net Income Effect*

Net Effect on Stockholders Equity*

First Announcement Date*

First Magnitude Announcement Date* All related filings to each restatement*

*Data analysis for these fields restricted to NYSE, Nasdaq and AMEX public companies and is currently populated from 2003 to present.

FIN 48 Revisions (All SEC registrants for fiscal years beginning after Dec 15th, 2006) SAB 108 Revisions (All SEC registrants for fiscal year ends after Nov 15th, 2006)

As the leader in Audit Industry Research, AuditAnalytics.com provides detailed information on over 20,000 publicly registered companies and over 1,500 accounting firms. Our database enables you, your students and faculty to quickly search and analyze reported:

- SOX 404 Internal Controls and SOX 302 Disclosure Controls

- Restatements

- Directory and Officer Changes

- Late filers (Form NT)

- Auditor fees, changes, and opinions

- Governance information (Non-historical)

I sincerely believe that you would find our online service to be a valuable resource for your academic research. We are currently offering special academic and educational subscription pricing for the service and I would be happy to discuss this further at your convenience. Please let me know if there is a good time for us to speak and if you would like any additional information or an online demonstration of the AuditAnalytics.com service.

Best Regards,

Tom

PS. Please feel free to ask me about AuditAnalytics.com availability via the WRDS Database http://wrds.wharton.upenn.edu/

Tom Hardy
IVES Group, Inc.
9 Main Street, Suite 2F
Sutton, MA 01590
Phone: (508) 476-7007 ext. 228
e-mail: thardy@ivesinc.com
www.auditanalytics.com - Independent Research Provider to the Accounting, Insurance, Research and Investment Communities

April 30, 2008 reply from Todd Pullen [btpull@COMCAST.NET]

Does anyone have a recommendation on a good site for financial reports?

I have found that some of the free sites such a Google Finance and Marketwatch are not that accurate or their data is outdated.

April 30, 2008 reply from Edith Orenstein [eorenstein@FINANCIALEXECUTIVES.ORG]

I recently had demo of CCH Accounting Research Manager (ARM) and it seemed to have a pretty good search capability for recent filings.

April 30, 2008 reply from W. O. Mills, III C.P.A., C.A., P.F.S [wom@WOMILLS.COM]

I am not sure of what you might be looking for exactly...but perhaps Edgars would be of some benefit to you.

http://www.sec.gov/edgar.shtml 

April 30, 2008 reply from David Albrecht [albrecht@PROFALBRECHT.COM]

I use several. Usually I go directly to a company's web site.

If I'm simply shopping for something to use in class I go to
http://www.annualreportservice.com/

April 30, 2008 reply from Bob Jensen

And don't forget to try the wonderful new TryXBRL service (free for now) and the new Financial Explorer service from the SEC

"TryXBRL.org Launched," SmartPros, March 28, 2008 ---  http://accounting.smartpros.com/x61325.xml

A new Web site, TryXBRL.com, allows free access to view and analyze complete XBRL-tagged financial statements for over 12,000 publicly traded corporations.

After registering on the portal, TryXBRL.org, corporate finance professionals can educate themselves about the XBRL tagging process and view their own historical financial information in XBRL format. Investors and analysts can experience how XBRL reduces the complexity and costs associated with analyzing performance data.

The site is a collaboration of EDGAR Online Inc., a business and financial information provider, and R.R. Donnelley & Sons Company, a print services company.

"Our goal has been to deliver solutions that do not require technical expertise or excessive time commitments by corporations wishing to take part in the SEC Voluntary Program or to familiarize themselves with XBRL," said Philip Moyer, President and CEO of EDGAR Online, Inc. "We are providing open access to our vast XBRL database through a solution that enables corporations to begin filing XBRL content with the SEC in as little as a few hours."

RR Donnelley and EDGAR Online have collaborated to deliver XBRL filing solutions to corporations since 2005.

Once again that site is at http://www.tryxbrl.org/

April 1, 2008 reply from Amy Dunbar [Amy.Dunbar@BUSINESS.UCONN.EDU]

I just tried the site. Wow. Very powerful. I confirmed the numbers for one company to make sure I knew what I was seeing. It pulled the 2007 four quarter numbers for my selected company and then the 4th qtr numbers for the three peer companies and my selected company. I'm not sure where that 12,000 publicly traded corporations is coming from. They must mean filings, not corporations. I found the following table for March/June 2005 in Appendix F. http://www.sec.gov/info/smallbus/acspc/acspc-finalreport.pdf  If you include pink sheet companies, the data for which are not publicly available (at least to my knowledge), the total climbs to 13,094. Does anyone have a source for more recent numbers of publicly traded corporations?

Listing Venue Number of Companies Listed NYSE 2,553 AMEX 747 NASDAQ National Market 2,580 NASDAQ Capital Market1 593 OTC Bulletin Board 2,955 Total 9,428

The table (I only show part of it) has the following footnote explanation: Source: Public data includes 13,094 companies from the Center for Research in Securities Prices at the University of Chicago for NYSE and AMEX companies as of March 31, 2005 and from NASDAQ for NASDAQ and OTC Bulletin Board companies and from Datastream Advance for Pink Sheets companies as of June 10, 2005. This table was compiled by members of the staff of the SEC's Office of Economic Analysis and does not necessarily reflect the views of the Commission, the Commissioners, or other members of the Commission staff.

Amy Dunbar UConn

 Bob Jensen's threads on XBRL are at http://www.trinity.edu/rjensen/XBRLandOLAP.htm


"SEC unveils 'Financial Explorer' investor tool using XBRL," AccountingWeb, February 20, 2008 ---
http://www.accountingweb.com/cgi-bin/item.cgi?id=104665

Securities and Exchange Commission Chairman Christopher Cox has announced the launch of the "Financial Explorer" on the SEC Web site to help investors quickly and easily analyze the financial results of public companies. Financial Explorer paints the picture of corporate financial performance with diagrams and charts, using financial information provided to the SEC as "interactive data" in eXtensible Business Reporting Language (XBRL).

At the click of a mouse, Financial Explorer lets investors automatically generate financial ratios,

graphs, and charts depicting important information from financial statements. Information including earnings, expenses, cash flows, assets, and liabilities can be analyzed and compared across competing public companies. The software takes the work out of manipulating the data by entirely eliminating tasks such as copying and pasting rows of revenues and expenses into a spreadsheet. That frees investors to focus on their investments' financial results through visual representations that make the numbers easier to understand. Investors can use Financial Explorer by visiting www.sec.gov/xbrl .

"XBRL is fast becoming the universal language for the exchange of business information and it is the future of financial reporting," said Cox. "With Financial Explorer or another XBRL viewer, investors will be able to quickly make sense of financial statements. In the near future, potentially millions of people will be able to analyze and compare financial statements and make better-informed investment decisions. That's a big benefit to ordinary investors."

David Blaszkowsky, Director of the SEC's Office of Interactive Disclosure, encouraged investors to try out the new software. "Financial Explorer will help investors analyze investment choices much quicker. I encourage both companies and investors to visit the SEC Web site, try the software, and get a first-hand glimpse of the future of financial analysis, especially for the retail investor."

Financial Explorer is open source, meaning that its source code is free to the public, and technology and financial experts can update and enhance the software. As interactive data becomes more commonplace, investors, analysts, and others working in the financial industry may develop hundreds of Web-based applications that help investors garner insights about financial results through creative ways of analyzing and presenting the information.

Continued in article

Jensen Comment
The Financial Explorer link --- http://209.234.225.154/viewer/home/
Note the "Take a Tour" option.

Bob Jensen's videos (created before the SEC created the Financial Explorer) are at http://www.cs.trinity.edu/~rjensen/video/Tutorials/
When I can find some time, I'll create a Financial Explorer update video.

Bob Jensen's threads on XBRL are at http://www.trinity.edu/rjensen/XBRLandOLAP.htm


Accounting Educators should pay more attention to the following blog that seeks out weaknesses in company filings of 10Q (and other reports) with the SEC

10Q Detective blog by David Phillips --- http://10qdetective.blogspot.com/

Investors often overlook SEC filings, and it is the job of the 10Q Detective to dig through businesses’ 8-K and 10-Q SEC filings, looking for financial statement ‘soft spots,' (depreciation policies, warranty reserves, and restructuring charges, etc.) that may materially impact Quality of Earnings

Bob Jensen's threads on creative accounting are at http://www.trinity.edu/rjensen//theory/00overview/AccountingTricks.htm

Bob Jensen's threads on accounting theory are at http://www.trinity.edu/rjensen/Theory.htm

Bob Jensen's threads on the roles of listservs and blogs --- http://www.trinity.edu/rjensen/ListservRoles.htm

Global Perspectives on Accounting Education --- http://gpae.bryant.edu/%7Egpae/content.htm


David Pogue is one of my technology heroes --- http://en.wikipedia.org/wiki/David_Pogue
Vidya Ananthanarayanan called my attention to his recent keynote speech at the
Pennsylvania Educational Technology Expo and Conference
"Five ways to improve technology in education," by Todd Ritter, DownloadSquad, February 12, 2008 --- Click Here

Stay informed
Use Really Simple Syndication (RSS) to keep up with technology news and events. To use RSS you'll need an RSS reader like
Google Reader, NetNewsWire (Mac), or FeedDemon (Windows) to read RSS feeds. An RSS feed is basically a dynamic link that updates your RSS reader when new content is posted to a website (click the "RSS Feeds" button under our search bar to see examples).

You can also subscribe to technology newsletters, and talk to students about websites and web services they use on their own. A majority of teachers do not know what
Stickam or Meebo are, yet these sites are used daily by many of their students.

Focus on the learning process, not the end product
When little Susie uses iMovie to create a video of her class field trip to Cape Canaveral, she should be evaluated on what she's learned through the creative process, not how many wipes and sound effects she used in her final movie file. The quality and relativity of the still pictures she took by learning how to use a digital camera, or video footage from a well-designed storyboard are better barometers of a successful project.

Work with IT professionals who understand education
I work on the IT side of education daily, and I know it's important to unfetter technology at a school to stimulate the learning process. IT staff must be willing to bend on certain security measures and trust students with equipment so that they can be creative and not boxed in. We let students take laptops home to work on approved projects, which ultimately motivates their peers to do the same. We also have a dedicated instructional adviser who helps teachers integrate technology into their lesson plans. This often helps ease the teachers' modification of antiquated lessons.

Become a user
Make a
Facebook account so you can understand the allure of social-networking sites. Add some information about yourself. Locate former school pals. Join some groups. This will let you see sites like Faceook from a student's perspective.

To collaborate and share course materials, you can create a
Moodle site for your class, or start a class blog. Students benefit more from teachers who collaborate and less from teachers who force-feed lectures. Also, it's much easier to teach about something that you've actually used in depth. It's time to break the stigma of "those that can, do; those that can't, teach."

Don't be afraid of change
Some teachers think that upgrading from Office 2003 to 2007 is using the latest technology. However, a Word document is still words and formatting meant for someone to read. Instead of being satisfied with word processing in a new version of software, why not let students create a school "newspaper" on something like
Joomla. The news could be updated in seconds, it could be interactive (comments, updates, etc.), and it could be include user-submitted media. Google Earth could be used to give an elementary student global perspective by flying in from a world view down to the roof of his home.
 

Jensen Comment
There are other things that I would recommend. I think joining listserv of other educators is important, especially educators in your discipline --- http://www.trinity.edu/rjensen/ListservRoles.htm

It is exceedingly important to know what knowledge is being freely shared by professors and universities --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI
I hope that you will one day share your own knowledge with us.

I think becoming a user of important technologies is important, especially video recording using Camtasia --- http://www.trinity.edu/rjensen/HelpersVideos.htm
Also see the 50Camtasia.ppt file at http://www.cs.trinity.edu/~rjensen/EdTech/PowerPoint/

Following the tools of technology in education in general is important --- http://www.trinity.edu/rjensen/000aaa/thetools.htm

Bob Jensen's threads on education technology are at http://www.trinity.edu/rjensen/000aaa/0000start.htm

 


July 2, 2008 reply from Bob Jensen

Hi Amy and Jagdish,

Most faculty can view free electronic versions of hundreds of newspapers, including the WSJ, if their campus libraries subscribe to electronic databases that most colleges now make available to students, faculty, and retired faculty. But it’s a bit of a pain in the tail to go to a database in this manner every instant you want to see a WSJ article.

WSJ deals for professors (free) and students (at greatly discounted prices)  are described at http://info.wsj.com/college/
There’s a catch since professors receiving free subscriptions must sign up the WSJ to students or set up an arrangement with bookstores.

The WSJ now has two types of “introductory-offer” subscriptions:

$79 for the electronic (online) subscription for one year
$99 for the hard copy by mail and the electronic (online) subscription for a year   
Thus getting the hard copy six days a week in the mail costs an added 6.4 pennies per day.

Renewal of a subscription is higher priced, and I was told on the phone when I renewed that I could not get the electronic version without also paying for a hard copy subscription. I don’t know how you renewed for an electronic version only. Actually the pricing difference is probably so nominal that the only things to suffer from the hard copy add on are my mail delivery woman (Mary Bless Her Heart) and the trees in Maine where Dow Jones has a long-term newsprint contract with the St Regis Paper Company or whoever owns St Regis now).

At the WSJ home Website I cannot find any mention of how to get a free electronic subscription to the WSJ. This is sad since one of Rupert Murdach’s promises when he bought the WSJ was that the electronic versions would be free in much the same convenient manner that current editions of the NYT are free.

 However, there is away for persistent freebie searchers to view the WSJ for free. The “Unknown Professor” of the Financial Rounds blog showed how he manages to view online versions free: I did not check to see if his methods still work.

 

Saturday, April 05, 2008 --- http://financialrounds.blogspot.com/

Get The Wall Street Journal Online For Free

Either on the blog or in class, I refer to articles in the Wall Street Journal a lot. Unfortunately, the person I'm talking to often doesn't have a subscription. Fear no more - it turns out there's a way to get all the content on the WSJ Online for free. Here's how it works: If you click on a link to the WSJ's "protected" content through a non"portal" site, you get sent to a limited version of the full article. To get the whole thing, you have to log in.

But if you click on a link to that same article in Google News or Digg, you can access the full story for free. Here's how to use this approach:

  • Many (not all, but many) of the articles are available through Google News. If you know the title of the article, go there and search for it. If it's available, you'll get the full article. Unfortunately, not all articles are available through this avenue.
  • If you're a FireFox user, there's another way. First, install the add-on refspoof. Then, when going to the WSJ online, use www.digg.com as the spoofed address. This makes it look to the WSJ site like you're coming from Digg. I've downloaded it, and it's easy to use.
  • If you're an Internet Explorer user, QuickSpoof and Spooph provide the same spoofing functionality.

 


Management Accounting Simulations

May 1, 2009 message from Roger Collins [rcollins@TRU.CA]

I've been assigned to teach a course in "Strategic Management Accounting" as part of our summer session offerings for final year BBA undergraduate accounting majors. The previous presenter of the course built it around a set of cases plus a simulation - VK Gadget. See..
http://www.microbuspub.com/maspg3.htm 

While I'm in general agreement with the approach I'm wondering whether anyone on the list has experience of the VK Gadget simulation, or of any other simulations that they would think appropriate. There is an optional text with the simulation - "Management Accounting - A Venture Into Decision Making" - but our students have a more in-depth knowledge of management accounting by the time they reach their final year than this book provides.

The only potential alternative that I've discovered to the VK Gadget simulation so far is "The Business Strategy Game" from Globus.See..
http://www.glo-bus.com 

I get the impression that this simulation is easier to run and to administer than VK Gadget (important to me, as I have to get up to speed quickly) but it doesn't seem to go into management accounting issues in such depth.

Any comments would be much appreciated.

Regards,

Roger Collins
TRU School of Business

May 1, 2009 reply from David Albrecht [albrecht@PROFALBRECHT.COM]

I used the Management Accounting Simulation from the same company. I found it required a significant investment on the part of students before they ever could get started. The time and effort needed was so significant, that only two groups of two students even went ahead with the investment. Most students just entered numbers. I was using the simulation for cost accounting students, which I find to be more dedicated to work than the typical managerial accounting students.

What was scariest was the amount of work that would be required of the professor before even starting. I had difficulty in figuring out what to do from the instructions. I think I could have figured it out eventually if I had gone ahead and made the time investment and completed the assignments, just like I later asked the students to do. My estimate was about 25 hours to get up to speed, and I wasn't willing to make that investment. No wonder most students didn't do it either.

I found the instructions to administer the game to be confusing, and I couldn't even input data without being talked through it by the simulation author.

My campus bookstore charged students 38.40 for the instruction book. I eventually dropped the simulation, and refunded students their 38.40 from my own pocket (ouch).

I don't know if the simulation game you are talking about is the same, or a related product by the same company, but I'd be very skeptical.

A far better managerial accounting simulation is to use a business computer game called Gazillionaire (from Lavamind). In this computer game, each player owns a company with two products/services--either transporting passengers or transporting materials/products on the single company vessel. Each player must make decisions about financing, setting prices, allocating space on vessel between passengers/cargo, purchase of insurance, payment of taxes, where to travel, etc.

I have students play the game until they figure out the various components. Then I have the students play the game on paper until they have a plan that will work: enable them to ultimately accumulate retained earnings of 1,000,000. Once I approve their plans, they go ahead and play the game and then do a variance analysis, and figure out what they can do for the next time they play they play the simulation game.

If anyone goes this route, I can share my very rudimentary instructions. Also, I warn: students must truly immerse themselves in the business--figuring out what info they need that can help them cut costs and increase revenues. It cuts down on the amount of classroom content that can be covered. But it is well worth it.

Sometimes I hear from students that they learned more from my monopoly simulation game and gazillionaire simulation game than the rest of their collegiate experience.

David Albrecht

May 2, 2009 reply from dekalmte [dekalmte@XTRA.CO.NZ]

Roger

We use a simulation called Mikes Bikes Advanced through http://www.smartsims.com/ 

Most of the administration can be undertaken by the helpful staff at Smartsims. The multiplayer version is housed on their servers and can be accessed by anyone (who has paid the requisite fee) with an internet connection.

I have run in it our Strategic Management Accounting course for five years. Students find it easy to access and use. I form them into teams and they compete against each other to manufacture and sell bicycles (no knowledge of bicycle manufacture required).

Assessment is around a business plan and establishing KPI (along the lines of a 'balanced score card'). Each team is 'in business' for a number of years and they are to report on successes and failures. It doesn't necessarily focus on the technical skills of 'management accounting' - we cover and assess through other mechanisms - but does really open their minds to the strategic, and integrated, nature of decision making. It requires that they develop the soft skills that accounting bodies expect to be squeezed into the curriculum. Students do enjoy the competitive nature of the challenge.

Good Luck,

Frank Weterman
frank.weterman@manukau.ac.nz 
Faculty of Business Manukau Institute of Technology
Auckland New Zealand

 

May 2, 2009 reply from Bob Jensen

Hi Roger,

The Mike's Bikes author is Pete Mazany. Pete's one of Frank's colleagues on the faculty at the University of Auckland. In the past, In the past I've used Pete in my technology workshops. If management accounting is to be emphasized to students who are relatively advanced in management accounting, the Mike's Bikes case may be too superficial in terms of accounting content, although this is an excellent policy decision making simulation. The case is networked and online. Pete spent a lot of money and time in programming this simulation. Pete earned his doctorate at Yale under one of the top game theory scholars of the world.

There is an excellent case study directory at Michigan State University --- http://aib.msu.edu/resources/casedepositories.asp
Most cases are not simulations. However, enter "simulation" in the search box on the left margin of the AIB home page and see what you find.

It is not common to find simulation cases with good accompanying textbooks. One problem is that if the simulation cases are updated quite often, the accompanying textbook may be a little out or date. If neither the simulation case nor the textbook is updated quite often, then I become dubious about using such material over time. Updating financial accounting simulations is probably a bigger problem relative to managerial accounting because of the way financial accounting standards are amended monthly.

Bob Rubin at Depaul has a video of possible interest, but it's more of a teaser. You would have to contact Bob or Gayle for more information (and may not have enough accounting content) --- http://www.youtube.com/watch?v=lz1VNyJpmQw 
Also see Gayle Landuyt's video --- http://www.youtube.com/watch?v=8Oo2jaCN-v8 

 


Sources for Teaching Cases --- http://aib.msu.edu/resources/casedepositories.asp

David Albrecht (at Bowling Green) raised a question about what might constitute an Advanced Managerial Accounting Course and the bias of college accounting curricula for financial accounting rather than managerial accounting.

March 21, 2008 reply from Bob Jensen

Hi David,

This is an age-old issue about which I have mixed feelings.

The most important thing on the minds of our soon-to-be-graduating accounting majors is finding a job (except for the small percentage that go on to law school.) Virtually all accounting graduates get some full-time professional experience before applying for doctoral programs.

The corporations and the IMA have long railed against the CPA exam dominance of accounting curricula and the bias of curricula in financial as opposed to managerial accounting.

When issued was raised in conferences my old friend and accounting historian Dick Vangermeersh (always blunt almost to a fault) would a loud outburst of one of the following two questions:

“Then why don’t corporations offer more entry-level jobs?” or

“Why don’t corporations offer more career-expanding jobs with training programs comparable to training programs comparable to training opportunities in CPA firms?”

Dick made good points, although I think corporations are doing a bit better today at the entry level and at the internship level.

There’s still little doubt in my mind in colleges that do offer either a financial accounting or a managerial accounting track, the overwhelming majority of top students choose the financial accounting track.

Fortunately there are some curriculum topics that go both ways so to speak. In the past decade, my students who really go turned on by studying derivative financial instruments in both finance and my accounting courses found great career opportunities in large corporations and the large CPA firms. But they had a skill set beyond what is normally considered “managerial accounting.”

I’ve always been impressed by the evolving topics in the first Managerial/Cost accounting textbooks. At the same time I’ve been almost completely turned off by the mish-mash of topics in the so-called Advanced Managerial Accounting textbooks.

There are several routes to follow for advanced managerial accounting:

One is a course that covers basic material but does it in a more advanced pedagogy using great cases such as those from the top case writing schools such as Harvard (especially the Kaplan-Cooper cases) and the other case sources such as those listed at http://aib.msu.edu/resources/casedepositories.asp  The advantages of great cases is that they're no “optimal solutions” in great cases nicely based on the real world. This is evident in the sometimes poorly written teaching notes that accompany the cases. I used cases for years when teaching managerial and cost accounting. Some of these cases are quite challenging.

Another route is a practicum.project course where students make field visits to corporate accounting departments. Perhaps make them write their own cases and teaching notes.

Another route is a simulation/game course such as Mike’s Bikes ---
http://www.smartsims.com/  
The author, Pete Mazany, is a cool guy, although he’s not an accountant, and the accounting content of this simulation is a bit limited. Students could well expand upon accounting issues.

Still another tack is to combine managerial topics with AIS topics with special focus on internal controls and custom report generation from relational database models. It would be great in this course to have some illustrations of custom reports actually generated by the managerial accountants at real-world corporations.

Another tack is to teach the accountics models of advanced accounting, limited as they may be to the real world. Kaplan’s original Advanced Managerial Textbook covered some of the older mathematical models.

Since you use the Parker Bros. Monopoly Game in your basic course David, you might extend this game to where students have to manage housing rentals and make decisions regarding setting rent levels, cash flow analysis, maintenance costs, insurance costs, taxes, and maybe even some clever ABC costs.

You might note that I summarize your use of the Monopoly Game at http://www.trinity.edu/rjensen/000aaa/thetools.htm#Monopoly
Also see http://www.trinity.edu/rjensen/000aaa/thetools.htm#Edutainment

Bob Jensen

March 22, 2008 reply from Priscilla Reis [reispris@ISU.EDU]

We've chosen to teach "Management Control Systems" as our advanced managerial course and use Simons' Performance Measurement & Control Systems for Implementing Strategy: Text and Cases. (Yes, it's long overdue for a revision and Simons' has revised his "Levers of Control" model but the text still works well, particularly with supplemental cases.) This makes a wonderful capstone course as it combines management accounting with strategy, organizational behavior and structure, marketing, information systems, and finance.

Priscilla

Priscilla R. Reis, Ph.D., CMA
Department of Accounting College of Business
Idaho State University
Box 8020 Pocatello, ID 83209

reispris@isu.edu 

March 24, 2008 reply from David Fordham, James Madison University [fordhadr@JMU.EDU]

Quote: "Accounting professors might be expected to disagree with the general premise of an article CFO.com published yesterday on Wednesday ­ namely that colleges prepare students more to work at public accounting firms than in corporate finance and accounting departments. But actually they agree, at least in part." -----

As a famous actor once said, "Yeah, so what's the problem?"

I'm surprised that no one has pointed out that this is a vivid illustration of simple theoretical economics working at its very best. This is the epitome of the stereotypical "golden rule" -- whoever gives out gold gets to make the rules.

My guess would be that the Big Four, *individually*, not only hire more students, but give more money, than all the corporate constituents of accounting schools combined. They are on campus more, let students see them more, and participate in education more, than all the corporate constituents combined. So why shouldn't they be more influential?

When I started in academe, the list of companies recruiting our accounting majors included industries like insurance (State Farm, Geico, Allstate), publishing (Gannett, ), Hospitality (Marriott), entertainment (Disney), manufacturing (Merck, Reynolds, Xerox, Seimens) I could go on and on. But compared to the accounting firms, they gave no scholarships, no fellowships, did not sponsor refreshments after Beta Alpha Psi and IMA student chapter meetings, endowed no professorships, would not allow alums to come back to campus for either recruiting purposes or guest speaker positions, did not accept invitations to serve on advisory boards, when they did accept they were always too busy to attend or participate, and otherwise they did not seem to care whether we existed or not. To be sure, our IMA chapter won national awards (we placed or won the case competition four years in a row), and we had numerous professors (including myself) who came from industry accounting backgrounds and touted the virtues of corporate accounting careers. But it became a hard sell to students because the industry people never made it seem like education was a priority for them. They came to campus to interview, and that was it. Period, End of Story.

In contrast, the public accounting firms, even the tiny ones, treat education like the incubator for their talent. They invest time, effort, attention, and money into the programs, devote effort to supporting education, and in general act like "partners" in the education process.

It's hard to push corporate accounting to an advisory board (and generous donor base) when it is made up 95% of public accountants who want more students, more "training" for students, and more public accounting emphasis for students. And it's hard to push corporate accounting to students when the salaries are lower, the perks aren't sold well, and the enthusiasm is lacking from the recruiters. Given the "we can't afford time off to come to campus" excuses they give our student organization leaders, it appears to the students that industry accountants have a tougher life with less flexibility. The dean listens to the donors, and industry donors are noticeably absent from accounting school foundation funding compared to public firms. (Although we don't hesitate to buck the dean, we do choose our battles, and it's hard to go to battle for someone who doesn't give you any support.)

Most public accounting firms send reps to campus that are all smiles, all happy, and overall excellent marketers, and stand in stark contrast to the industry accountants' somber expressions. I can see where accounting students might tend to value public accounting over industry as an entry-level job.

Over time, the industry recruiters have disappeared, for many reasons.

Even the government (DoD, FBI, DoJ, Secret Service, Treasury, GAO, etc.) spends a lot of time on campus and sponsors a lot of student events and does a great job schmoozing students, compared to industry.

I agree that not all students want public accounting, but I also agree that industry is doing a poor job of selling the industry-accounting positions, compared to the CPA firms. If industry/corporate recruiters want more students, they should let students see them more, see them in an attractive light, and support education closer to the level of the public firms. IF our executive advisory board were to call for more cost accounting, more industry-oriented managerial topics, etc., we would indeed listen. But no one is asking for those things, because they aren't here. Instead, the people who are here are calling for forensic accounting, assurance services, risk management, more auditing, more systems, and more tax. Like I said, we listen.

It's almost as though corporate accounting recruiters had never heard the phrase, "the squeaky wheel gets the grease."

Again, this is just a case of good old-fashioned freshman economics are work. That, plus marketing, publicity, and rational decisionmaking on the part of students.

One penny this time.

David Fordham
PBGH Faculty Fellow (yes PBGH is a public accounting firm... we couldn't find any industry willing to sponsor fellowships, whereas eight local firms have stepped up to the plate)
James Madison University


AccountingWeb invites professors to submit questions for a Weekly AccountingWeb Quiz ---
http://www.accountingweb.com/cgi-bin/item.cgi?id=104117

AccountingWEB is pleased to announce its weekly accounting quiz, now appearing in the Student Zone area of the AccountingWEB site. Just click Student Zone at the left of any AccountingWEB page (or click the Student Zone link at the bottom of this story) to access the weekly quiz and to be eligible for great prizes!

Accounting professors from across the country are participating in Test Your Knowledge, submitting their favorite quiz questions to see if they can stump the AccountingWEB audience. Each Monday, a new quiz will appear. The winners from the previous week will be announced in each Tuesday's Weekly Business Bite, a free news wire to which you can subscribe.

The top ten winners each week will receive AccountingWEB t-shirts. In the event that more than 10 participants get all the questions correct, a drawing will be held among the winners to select the 10 t-shirt recipients.

Only one entry is allowed per person, per quiz, however you can enter the new quiz each week, even if you are a winner of a previous quiz.

So dust off your accounting rules and enter this week's quiz TODAY!

Note that AccountingWeb now has a "Student Zone" at http://www.accountingweb.com/news/student_channel.html
There's also a "Lecture Hall" at http://www.accountingweb.com/lecture_hall/index.html
A useful set of accounting links is provided at http://www.accountingweb.com/links/index.html
I added these to my bookmarks at http://www.trinity.edu/rjensen/Bookbob1.htm

Jensen Comment
Accounting instructors may want to add some of these questions to their test banks. Or they may want their students to take these weekly quizzes as part of a course (possibly only for non-credit practice and fun).

Recently I added some of my old theory exam questions and problems (heavy on FAS 133 and IAS 39) under "Exam Material" at http://www.cs.trinity.edu/~rjensen/Calgary/CD/
Most of my questions and problems are probably too specialized for an AccountingWeb Quiz. But they may help advanced students learn more about theory.


Scribd Wants to Become the YouTube for Documents --- http://www.scribd.com/categories
It has a long way to go, although it now has over 350,000 archived documents --- http://en.wikipedia.org/wiki/Scribd
There are many tutorials such as those in basic accounting.

Borrowing a page from the popular video-sharing site YouTube, a new online service lets people upload and share their papers or entire books via a social-network interface. But will a format that works for videos translate to documents?

It’s called iPaper, and it uses a Flash-based document reader that can be embedded into a Web page. The experience of reading neatly formatted text inside a fixed box feels a bit like using an old microfilm reader, except that you can search the documents or e-mail them to friends.

The company behind the technology, Scribd, also offers a library of iPaper documents and invites users to set up an account to post their own written works. And, just like on YouTube, users can comment about each document, give it a rating, and view related works.

Also like on YouTube, some of the most popular items in the collection are on the lighter side. One document that is in the top 10 “most viewed” is called “It seems this essay was written while the guy was high, hilarious!” It is a seven-page paper that appears to have been written for a college course but is full of salty language. The document includes the written comments of the professor who graded it, and it ends with a handwritten note: “please see after class to discuss your paper.”

There’s plenty of serious material on the site, too — like the Iraq Study Group Report and an Educause report about the future of technology at colleges.

Bob Jensen's threads on free online documents are at http://www.trinity.edu/rjensen/ElectronicLiterature.htm

Bob Jensen's threads on general education tutorials are at http://www.trinity.edu/rjensen/Bookbob2.htm#EducationResearch


The Fall 2007 Edition of Accounting Education News (AEN from the American Accounting Association) --- 
http://aaahq.org/pubs/AEN/2007/Fall2007.pdf

Two important things to note:

In his first President's Message, Gary Previts mentions the Plumlee report on the dire shortage of accountancy doctoral students and provides a link to the AAA's new site providing resources for research and experimentation on "Future Accounting Faculty and Programs Projects" --- http://aaahq.org/temp/phd/index.cfm
Note especially the Accounting PhD Program Info link with a picture) and the PhD Project link (at the bottom):

Welcome to the preliminary posting of a new resource for the community participating in and supporting accounting programs, students, faculty, and by that connection practitioners of accounting. We plan to build this collection of resources for the broad community committed to a vital future for accounting education. This page is an initial step to creating a place where we can come together to gather resources and share data and ideas.
Making A Difference: Careers in Academia
Powerpoint slides created by Nancy Bagranoff and Stephanie Bryant for the 2007 Beta Alpha Psi Annual Meeting. Permission granted for use and adaptation with attribution.
GradSchools.com
Accounting PhD Program Info

New Research Projects by the AAA on the Trends and Characteristics of Accounting Faculty, Students, Curriculum, and Programs

Part I: Future of Accounting Faculty Project (Report December, 2007)
Part II: Future of Accounting Programs Project

Part I will describe today's accounting academic workforce, via demographics, work patterns, productivity, and career progression of accounting faculty, as well as of faculty in selected peer disciplines using data from the national survey of postsecondary faculty (NSOPF) to establish trends, and a set of measures will be combined to benchmark the overall status of accounting against (approximately) 150 fields. This project will provide context and data to identify factors affecting the pipeline and workplace.

Part II will focus on expanding understanding of the characteristics of accounting faculty, students, and accounting programs, and implications of their evolving environment. The need for the Part I project illustrates how essential it is for the discipline and profession of accounting that we establish a more standard and comprehensive process for collecting, analyzing, and reporting data about accounting students, doctoral students, faculty, curriculum, and programs.

More Resources on the Changing Environment for Faculty:

The Reshaping of America's Academic Workforce
David W. Leslie, TIAA-CREF Institute Fellow
The College of William and Mary
TIAA Institute Research Dialogue Series, 2007

Jim Hasselback's* 2007 Analysis of Accounting Faculty Birthdates
*Copyrighted – requests for use to J. R. Hasselback

  • Among U.S. Accounting Academics -- 53.4% are 55 or older

From the Integrated Postsecondary Education System (IPEDS)

  • 34.8% of all full-time faculty in the U.S. are non-tenure-track -- nearly 2 in 5 of all full-time appointments
  • Between 1993 and 2003 the proportion of all new full-time hires into "off-track" appointments increased each year from 50% to nearly 3 in 5 (58.6%)
  • Reported in J. Schuster & M. Finkelstein (Fall, 2006). "On the Brink: Assessing the Status of the American Faculty," Thought & Action 51-62.

Supply and Demand for Accounting PhDs

American Accounting Association PhD Supply/Demand Resource Page
A collection of resources, links, and reports related to the pipeline of future Accounting faculty. Highlights include:

  • Report of the AAA/APLG Committee to Assess the Supply and Demand of Accounting PhDs
  • Link to the Doctoral Education Resource Center of AACSB International (Association to Advance Collegiate Schools of Business)
  • AICPA's Journal of Accountancy's article "Teaching for the Love of It"

Deloitte Foundation Accounting Doctoral Student Survey

Survey Results (Summer, 2007)
Data collected by survey of attendees of the 2007 AAA/Deloitte J. Michael Cook Doctoral Consortium

The PhD Project and Accounting Doctoral Students Association

The PhD Project is an information clearinghouse created to increase the diversity of business school faculty by attracting African Americans, Hispanic Americans and Native Americans to business doctoral programs and by providing a network of peer support. In just 12 short years, the PhD Project has been the catalyst for a dramatic increase in the number of minority business school faculty—from 294 to 842, with approximately 380 more candidates currently immersed in doctoral studies.

The PhD Project Accounting Doctoral Students Association is a voluntary association offering moral support and encouragement to African-American, Hispanic-American, and Native American Accounting Doctoral Students as their pursue their degrees and take their places in the teaching and research profession, and serve as mentors to new doctoral students.

PhD Project Surveys of Students, Professors, and Deans
Results of a survey among students to understand the impact of minority professors on minority and non-minority students.

Accounting Firms Supporting the AAA and Accounting Programs, Faculty, and Students

Related Organizations Sharing Interest in Accounting Faculty and Programs

 

Topics for American Accounting Association Regional and National Meetings

October 21, 2008 message from Dennis, David K [DDennis@OTTERBEIN.EDU]

Paul, Bob, Jagdish, et.al:

I am working on an expanded, and hopefully nontraditional list of topics for the call for papers (also panels, cases, presentations, essays) for the Ohio Regional AAA meeting next May.

I would like to hear from you and the other AECM list servers out there. What would you like to see on the list?

Let me suggest a few in order to prime the pump.

Productivity in Accounting Research Significant Learning in Accounting Education Accounting as Infrastructure Accountants as Infrastucture Cultural Infusion of Transcendental Accounting Values, e.g. Accountability, Transparency, Faithful Representation, Relevance, etc. Valuation Mechanisms, Scale and Type Relevance of Accounting Research to Accounting Practice (or lack of) What Accounting Research Should Do In Order to Address the Critical Issues of Humankind Economic Alternatives to Neoclassical Economic Based Research Paths Numeristic and Scientistic Dominance of Accounting Research Involvement Avoidance: The Antipathy of Accounting Professionals & Professors Absence of Accounting Thought, Values and Guidelines in Everyday Decision Making Continuous Accounting, Auditing and Reporting Alternate Financial Statements: Concept & Example Future Models of the Audit Function, the Audit Profession

David Dennis
Otterbein College

 

October 22, 2008 reply from Bob Jensen

Hi David,

There are various topic ideas at http://www.trinity.edu/rjensen/000aaa/thetools.htm

One of the biggest problems we’ve always had in accountancy higher education is the image of accountancy in K-12 programs. Unless they have parents linked to accountancy, most incoming first year students do not rank accountancy high on the list of prospective majors. They often change their minds when they major in business and take the first required accounting courses were instructors demonstrate career opportunities in accountancy, especially in glamour fields like working for the FBI.

But we lose many top students who do not track into business studies, particularly science and engineering students. We don’t necessarily want to steal a lot of students from science and engineering, but it would be advantageous to create a better image of accountancy at the K-12 levels.

Professor Dan Deines at Kansas State University has a handful of Outstanding Educator Awards, including one from the AICPA. Beginning on Page 5 of the Fall 2007 edition of Accounting Education News . Dan discusses the Taylor Research and Consulting Group study of accounting education commissioned by the AICPA in 2002. The study identifies barriers to students that prevent many top students from majoring in accounting. Dan then describes a pilot program initiated by KSU in reaction to the Taylor Report. I think accounting educators outside KSU may attend some of the pilot program events. In any case, this would be an interesting topic area for both the regional and national AAA meetings. Dan would be a great speaker for such events.

 Bob Jensen

Bob Jensen's threads on accountancy careers are at http://www.trinity.edu/rjensen/Bookbob1.htm#careers

 

Bob Jensen's threads on the shortage of doctoral students in accountancy can be found at
http://www.trinity.edu/rjensen/theory01.htm#DoctoralPrograms


The Massachusetts Institute of Technology is making freely available to high-school students and teachers a collection of material in science, technology, engineering, and mathematics. The material is available on a new Web site, an offshoot of its popular OpenCourseWare effort to put lecture notes and other information about every course online.
The Chronicle of Higher Education --- http://chronicle.com/wiredcampus/article/2573/mit-offers-learning-materials-to-high-schools
Jensen Comment
It's a shame that the Sloan School at MIT has not yet made accounting and business materials available for high schools. The bookkeeping, clerical, and boring-drudge portrayal of accountants in the nation's high schools is viewed as one of the most serious problems of the accountancy profession. In this MIT offshoot of OCW, the Sloan School could do a lot to help Dan Deines, the AICPA, and the AAA --- See the Taylor Report summary on Page 5 of
http://aaahq.org/pubs/AEN/2007/Fall2007.pdf

Bob Jensen's threads on accountancy careers are at http://www.trinity.edu/rjensen/Bookbob1.htm#careers

Bob Jensen's threads on the MIT OCW/OKI project making course materials available for over 1,500 college-level courses are at http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI


International Accounting

International Standards from the IASB (formerly IASC) --- http://www.iasb.org/Home.htm

U.S. Standards from the FASB (Free Downloads) --- http://www.fasb.org/public/ 
FASB homepage --- http://www.fasb.org/

Management Accounting Standards from the IMA (Free Downloads) --- http://www.imanet.org/publications_statements.asp#C
IMA homepage --- http://www.imanet.org/

For international accounting  material, I would begin with the Deloitte international accounting blog (Paul Pacter Webmaster) called IAS Plus at http://www.iasplus.com/index.htm

In particular note the Publications and Resources links.
Note the checklists at http://www.iasplus.com/fs/fs.htm
Compare IFRS with US and other nation GAAP rules --- http://www.iasplus.com/country/compare.htm

Search for “International Accounting ” in the Exact phrase search box and “Syllabus” in the upper All the words search box at http://www.google.com/advanced_search?hl=en
Alternately you may enter “International Accounting” AND “Syllabus” in one of the boxes.
Examine the many syllabi that are linked.

Search for “International Accounting ” in the Exact phrase search box and “PowerPoint” in the upper All the words search box at http://www.google.com/advanced_search?hl=en
Alternately you may enter “International Accounting” AND “PowerPoint” in one of the boxes.
Examine the many PowerPoint files that are available online.

International Accounting News (including the U.S.)

AccountingEducation.com and Double Entries --- http://www.accountingeducation.com/  

Upcoming international accounting conferences --- http://www.accountingeducation.com/events/index.cfm  

Thousands of journal abstracts --- http://www.accountingeducation.com/journals/index.cfm  

Deloitte's International Accounting News --- http://www.iasplus.com/

  Association of International Accountants --- http://www.aia.org.uk/  

Bob Jensen's summary of accounting theory and controversies --- http://www.trinity.edu/rjensen//theory/00overview/theory01.htm


Tom Selling's blog The Accounting Onion (great on theory and practice) --- http://accountingonion.typepad.com/


Advice to students planning to take standardized tests such as the SAT, GRE, GMAT, LSAT, TOEFL, etc.
See Test Magic at http://www.testmagic.com/
There is a forum here where students interested in doctoral programs in business (e.g., accounting and finance) and economics discuss the ins and outs of doctoral programs.


Bob Jensen's letter to Kate http://www.trinity.edu/rjensen/2007NotableLiteratureAward.htm

An Analysis of the Contributions of The Accounting Review Across 80 Years: 1926-2005 --- http://www.trinity.edu/rjensen/395wpTAR/Web/TAR395wp.htm
Co-authored with Jean Heck and forthcoming in the December 2007 edition of the Accounting Historians Journal.

I sent out an "Appeal" for accounting educators, researchers, and practitioners to actively support what I call The Accounting Review (TAR) Diversity Initiative as initiated by last year's American Accounting Association President Judy Rayburn --- http://www.trinity.edu/rjensen/395wpTAR/Web/TAR.htm


Privatization, Commercialization, Media Rankings, and Other Problems of Higher Education,
Including Selling Out Education Quality to Athletic Spectaculars ---
http://www.trinity.edu/rjensen/HigherEdControversies.htm


PwC's Website for College and University Faculty --- Click Here

Accounting Professional Site Links 
The CPA Team http://www.cpateam.com/  

An E-ssential Site --- http://www.el.com/
CPAs, financial analysts, small business owners, and tax professionals not only can find links to many Web sites in their fields here, but also can use Essential Link’s home page to access online calculators, clocks, e-mail services, encyclopedias and dictionaries. Users can find links to online news, newspaper and television network Web sites in the Headlines area, as well as links to Internet search engines..

Bob Jensen's bookmarks for accounting educators --- http://www.trinity.edu/rjensen/Bookbob1.htm


Bob Jensen's Archives of New Bookmarks --- http://www.trinity.edu/rjensen/Bookurl.htm

Bob Jensen's Tidbits Blog --- http://www.trinity.edu/rjensen/TidbitsDirectory.htm

Bob Jensen's Updates on Fraud --- http://www.trinity.edu/rjensen/FraudUpdates.htm

Links to Documents on Fraud --- http://www.trinity.edu/rjensen/Fraud.htm

Bob Jensen's search helpers are at http://www.trinity.edu/rjensen/searchh.htm

Bob Jensen's Bookmarks --- http://www.trinity.edu/rjensen/bookbob.htm

Bob Jensen's Bookmarks --- http://www.trinity.edu/rjensen/bookbob.htm

Bob Jensen's links to free electronic literature, including free online textbooks --- http://www.trinity.edu/rjensen/ElectronicLiterature.htm

Bob Jensen's links to free online video, music, and other audio --- http://www.trinity.edu/rjensen/Music.htm

Bob Jensen's documents on accounting theory are at http://www.trinity.edu/rjensen/theory.htm 

Bob Jensen's links to free course materials from major universities --- http://www.trinity.edu/rjensen/000aaa/updateee.htm#OKI

Bob Jensen's links to online education and training alternatives around the world --- http://www.trinity.edu/rjensen/Crossborder.htm

Bob Jensen's links to electronic business, including computing and networking security, are at http://www.trinity.edu/rjensen/ecommerce.htm

Bob Jensen's links to education technology and controversies --- http://www.trinity.edu/rjensen/000aaa/0000start.htm

 

Links to Bob Jensen's Workshop Documents on Education and Learning
Bob Jensen's Education and Learning Bookmarks

Bookmarks

The Shocking Future of Education 

First File

Second File

E-Learning and Distance Education's Top 
(Award-Winning) Illustrations

Detail File

Bob Jensen's Threads on Cross-Border (Transnational) Training and Education
(Includes helpers for finding online training and education courses, certificate programs, and degree Programs)
Detail File

Alternatives and Tricks/Tools of the Trade
    
(Including Edutainment and Learning Games)
     (Includes aids for the handicapped, disabled, and learning challenged)

First File

Second File

The Dark Side of the 21st Century: Concerns About Technologies in Education

 Detail File

Assessment Issues, Case Studies, and Research Detail File
History and Future of Course Authoring Technologies Detail File
Knowledge Portals and Vortals Detail File
Bob Jensen's Advice to New Faculty (and Resources) Detail File
Bob Jensen's Threads on Electronic Books Detail File
Threads of Online Program Costs and Faculty Compensation Detail File
Bob Jensen's Helper Videos and Tutorials Detail File
Jensen and Sandlin Book entitled Electronic Teaching and Learning: Trends in Adapting to Hypertext, Hypermedia, and Networks in Higher Education
(both the 1994 and 1997 Updated Versions)
Old Book

Some Earlier Papers

 

 
Additional Links and Threads Threads

 


Great Minds in Management:  The Process of Theory Development --- http://www.trinity.edu/rjensen//theory/00overview/GreatMinds.htm


Corporate Reports Now Searchable Via EDGAR --- http://www.sec.gov/edgar/searchedgar/webusers.htm

Bob Jensen's search helpers are at http://www.trinity.edu/rjensen/searchh.htm


Bob Jensen's video, Excel, and related tutorials are linked at http://www.trinity.edu/rjensen/HelpersVideos.htm


Bob Jensen's tutorials, cases, and other helpers on accounting for derivative financial instruments and hedging activities are at http://www.trinity.edu/rjensen/caseans/000index.htm 


Click here for commercialization corruption of higher education --- http://www.trinity.edu/rjensen/book05q3.htm#EducationCommercialization

Click here for business school ranking controversies --- http://www.trinity.edu/rjensen/book05q3.htm#BusinessSchoolRankings


Bob Jensen's threads on assurance services are at http://www.trinity.edu/rjensen/assurance.htm 


Some years back Professor Sharon Lightner (UC at San Diego) put together a really interesting online course for students, practitioners, and accounting standard setters in six different countries where the classes met synchronously.
"An Innovative Online International Accounting Course on Six Campuses Around the World" --- http://www.trinity.edu/rjensen/255light.htm


You can order back issues or relevant links management and accounting books and journals from MAAW --- http://maaw.info/

Back Issues of The Accounting Review --- http://maaw.info/TheAccountingReview.htm 


International Accounting News (including the U.S.)

AccountingEducation.com and Double Entries --- http://www.accountingeducation.com/
     
Upcoming international accounting conferences --- http://www.accountingeducation.com/events/index.cfm
        Thousands of journal abstracts --- http://www.accountingeducation.com/journals/index.cfm

Deloitte's International Accounting News --- http://www.iasplus.com/index.htm
Association of International Accountants --- http://www.aia.org.uk/ 


I highly recommend TheFinanceProfessor (an absolutely fabulous and totally free newsletter from a very smart finance professor, Jim Mahar from St. Bonaventure University) --- http://www.financeprofessor.com/ 
Jim's great blog is at http://financeprofessorblog.blogspot.com/



David Stout is not only a good friend, he is a highly respected former editor of Issues in Accounting Education.  He not only produced some of the best editions of that journal, he took a stand (albeit a futile stand) that I think is essential for respect in accounting research.  He actually stood for publication of replications of accounting research, which runs counter to virtually all top research journals in accounting.  You can read a December 5, 2002 message from David Stout on this important issue at  http://www.trinity.edu/rjensen/book02q4.htm#truth 


Bob Jensen's threads on Academics Versus the Accounting Profession (including the first tee shot by Denny Beresford) are at http://www.trinity.edu/rjensen//theory/00overview/theory01.htm#AcademicsVersusProfession 


Threads on the American Accounting Executive Committee Ill-Fated Decision to Cease Publication
of Accounting Horizons and Issues in Accounting Education  
--- http://www.trinity.edu/rjensen/AAAjournals.htm


"Converting Quicken Files to a Mac," by Walter S. Mossberg, The Wall Street Journal,  March 9, 2006; Page B3 --- http://online.wsj.com/article/SB114185773296892994.html?mod=todays_us_marketplace

Q: I am thinking of converting to an Apple machine, to replace my ancient Dell. However, all my financial records are in the Windows version of Quicken, and I need to keep using Quicken to have access to many years of records. I recall you writing earlier that Quicken was one of the products that didn't convert well to a Macintosh environment. Do you still feel that would be the case?

A: There is a Macintosh version of Quicken. However, unlike most other software publishers, Intuit, the maker of Quicken, chose to create a Macintosh edition that is very different from its Windows product and uses a different file format. It is possible to convert Windows Quicken files to work on the Mac version, and some readers have reported it went well. But many more have reported problems with the process, which is very time-consuming and can be error-prone. Therefore, I regard Quicken on the Mac as best for somebody who is starting fresh with financial software, and can't recommend it for somebody like you, who is converting from the Windows version.

As an alternative, you could keep around your old Windows PC for using Quicken. Or, you could try a program called Moneydance (www.moneydance.com), which has compatible versions for both Windows and Mac, claims to be completely portable between platforms and claims to import Quicken data with ease. I haven't tested Moneydance and can't verify these claims, or say how it compares with Quicken. But there's a free trial available.

Q: You suggested running anti-spyware and anti-virus scans nightly. Is there some way to arrange these to run automatically?

A: Yes. Most such programs have a built-in scheduler where you can specify a frequency and a time of day -- say, every day at 4 a.m.

Q: I transfer my home videos from a camcorder and burn them into CDs in the VCD format. My problem is that the video quality deteriorates significantly. The movie looks like an old home video. How do I improve the quality?

A: It's difficult because of the format you are using. The VCD format was designed to squeeze large video files, which would normally require the capacity of a DVD disk, into the much smaller space available on a CD. To accomplish this, the format encodes the video at much lower quality than DVDs typically use. As a result, home videos on VCDs can look much worse than they do on camcorder tapes, or than they would if you burned them to DVD, in the format common on DVDs. So, if video quality is important to you, the best suggestion I have is to buy a DVD burner.


Those Daring Professors and Their Technology Machines (This is history from the very early days)


Bob Jensen's threads on ethics and accounting education are at 
http://www.trinity.edu/rjensen/FraudProposedReforms.htm#AccountingEducation

The Saga of Auditor Professionalism and Independence ---
http://www.trinity.edu/rjensen/fraud001.htm#Professionalism
 

Incompetent and Corrupt Audits are Routine ---
http://www.trinity.edu/rjensen/FraudConclusion.htm#IncompetentAudits

Bob Jensen's threads on accounting theory are at http://www.trinity.edu/rjensen/theory.htm 

Future of Auditing --- http://www.trinity.edu/rjensen/FraudConclusion.htm#FutureOfAuditing


Accountancy Online Discussion Forums:

AECM (Educators)  http://pacioli.loyola.edu/aecm/ 
AECM is an email, Listserv list which provides a forum for discussions of all hardware and software which can be useful in any way for accounting education at the college/university level. Hardware includes all platforms and peripherals. Software includes spreadsheets, practice sets, multimedia authoring and presentation packages, data base programs, tax packages, World Wide Web applications, etc
CPAS-L (Practitioners) http://pacioli.loyola.edu/cpas-l/
CPAS-L provides a forum for discussions of all aspects of the practice of accounting. It provides an unmoderated environment where issues, questions, comments, ideas, etc. related to accounting can be freely discussed. Members are welcome to take an active role by posting to CPAS-L or an inactive role by just monitoring the list. You qualify for a free subscription if you are either a CPA or a professional accountant in public accounting, private industry, government or education. Others will be denied access.
Yahoo (Practitioners)  http://groups.yahoo.com/group/xyztalk
This forum is for CPAs to discuss the activities of the AICPA. This can be anything  from the CPA2BIZ portal to the XYZ initiative or anything else that relates to the AICPA.
AccountantsWorld  http://accountantsworld.com/forums/default.asp?scope=1
This site hosts various discussion groups on such topics as accounting software, consulting, financial planning, fixed assets, payroll, human resources, profit on the Internet, and taxation.
Business Valuation Group BusValGroup-subscribe@topica.com 
This discussion group is headed by Randy Schostag [RSchostag@BUSVALGROUP.COM]


Documents on Fraud and the Accounting Scandals

Issues in the accounting, finance, and business scandals --- http://www.trinity.edu/rjensen/fraud.htm

Bob Jensen's threads on professionalism and independence are at  http://www.trinity.edu/rjensen/fraud.htm#Professionalism 

Bob Jensen's threads on pro forma frauds are at http://www.trinity.edu/rjensen//theory/00overview/theory01.htm#ProForma 

Bob Jensen's threads on accounting theory are at http://www.trinity.edu/rjensen/theory.htm 

 

 

Bob Jensen's helpers on accounting for derivative financial instruments and hedging activities --- http://www.trinity.edu/rjensen/caseans/000index.htm 

Comparisons of International IAS Versus FASB Standards --- http://www.deloitte.com/dtt/cda/doc/content/pocketiasus.pdf

Video Tutorials on Accounting for Derivative Financial Instruments and Hedging Activities per FAS 133 in the U.S. and IAS 39 internationally --- http://www.cs.trinity.edu/~rjensen/video/acct5341/fas133/WindowsMedia/ 

Basic accounting students At BYU have great success learning accounting from special videos --- http://www.accountingcds.com/index.html

Contact Information: 
Cameron Earl 801-836-5649 cameronearl@byu.edu
Norm Nemrow 801-422-3029 nemrow@byu.edu 

Also see David Cottrell's approach at BYU --- http://www.business.uconn.edu/users/adunbar/AAA-CPE/AAA2003Cottrell.pdf 


I'm sharing some old (well relatively old) accounting theory quiz and exam material that I added to a folder at http://www.cs.trinity.edu/~rjensen/Calgary/CD/

Bob Jensen's Education Technology PowerPoint Files (in development) and Video Samplings --- http://www.cs.trinity.edu/~rjensen/EdTech/


Update message on November 3, 2005

Bob has posted our new website in an earlier post, but the new URL to our new website describing our accounting tools is www.accountingcds.com

We have a demo of VSP (the technology that speeds up the video and audio) technology here: http://www.accountingcds.com/learn/links/vspdemo.htm 

Cameron Earl

BYU


Advanced Video Technology
Amy Dunbar developed the following links for all participants in her workshop in Hawaii .  She also gave me permission to share it with readers of New Bookmarks.  Thanks to Amy and her other team members for sharing their presentation materials.
Using Technology to Distribute Course Content On and Off Campus AAA Annual Meeting - 2003
Continuing Education Workshop --- http://www.business.uconn.edu/users/adunbar/AAA-CPE/agenda.htm  

Bob Jensen's threads and videos, including a video on how to develop your own course materials using the cheap and easy Camtasia Studio software can be found at http://www.trinity.edu/rjensen/HelpersVideos.htm 


Audit Analytics --- http://www.auditanalytics.com/0002/
 

A Premium Audit Industry Market Intelligence Service Audit Analytics has information on over 20,000 public registrants and over 1,500 audit firms. It is the most comprehensive market intelligence tool for the audit industry available today. AuditAnalytics.com currently offers over 60 data fields to its users. Access to this data is available as on-line user subscriptions, as enterprise data feed subscriptions, and in custom reports.


Huron is the main source of restatement statistics --- http://www.huronconsultinggroup.com/


September 25, 2003 message from editor jda [editor.jda@gmx.de

Dear Professor Bob Jensen,

The Journal of Deivatives Accounting (JDA) is preparing to publish its first issue and I would be grateful if you could post the following announcement on your web site.

Regards

Mamouda

Dear Colleagues,

There is a new addition to accounting research Journals. The Journal of Derivatives Accounting (JDA) is an international quarterly publication which provides authoritative accounting and finance literature on issues of financial innovations such as derivatives and their implications to accounting, finance, tax, standards setting, and corporate practices. This refereed journal disseminates research results and serves as a means of communication among academics, standard setters, practitioners, and market participants.

The first and special issue of the JDA, to appear in the Winter of 2003, will be dedicated to:

"Stock Options: Developments in Share-Based Compensation (Accounting, Standards, Tax and Corporate Practice)"

This special issue will consider papers dealing with:

* Analysis of applicable national and international accounting standards * Convergence between IASB and FASB * Accounting treatment (Expensing) * Valuation * Corporate and market practice * Design of stock options * Analysis of the structure of stock options contracts * Executives pay incentives and performance * Taxation * Management and Corporate Governance

For more details on how to submit your work to the journal, please visit http://www.worldscinet.com/jda.html

Sincerely, 
The Editorial Board Journal of Derivatives Accounting (JDA)


Ernst & Young educational Webcasts --- http://webcast.ey.com/thoughtcenter/interfaces/ey2/pages/description.asp?action=help 


Message from FERF on February 24, 2004

Auditor Fees

An FEI member recently asked research as to whether a database exists of how much audit firms charge in audit fees relative to size of clients and billable rates per hour.

FERF researchers found information broken down by company size in the recent FEI Sarbanes-Oxley Section 404 survey results issued earlier in February http://www.fei.org/news/404_survey.cfm. Although billable rates are not given, an excel table details incremental audit fees for the Section 404 attestation and the % increase this fee represents of their current audit fee. Various groupings of responses are given by size of company based on revenue.

In April 2003, FEI's Committee on Corporate Reporting (CCR) surveyed its members on 2002 audit fees. Twenty-five companies with total US assets of between $0.4 billion and $1,097 billion responded. Findings and an excel table are available under Finance Tools at http://www.fei.org/financetools/audit_fee.cfm

Aspen Publishing recently released the 5th edition of "Professionals Guide to Value Pricing." The book discusse related value pricing vs. audit firm hourly rates. A description of the book can be found at: http://www.aspenpublishers.com/Product.asp?catalog%5Fname=Aspen&category%5Fname=&product%5Fid=0735543178&Mode=SEARCH&ProductType=M.

 

Bob Jensen's guides to fees and related matters are at http://www.trinity.edu/rjensen/fees.htm 

Bob Jensen's helpers for small businesses and small accounting firms (including expert witness links) --- http://www.trinity.edu/rjensen/bookbob1.htm#SmallBusiness


Message from FERF on February 24, 2004

Fraud Checklists

Another FEI member responsible for a Sarbanes-Oxley 404 engagement recently inquired about a "checklist that can be used at the process level to help identify the types of fraud concerns related to a specific process."

FERF researchers found the following references:

An Appendix to Statement on Auditing Standards No. 99, Consideration of Fraud in a Financial Statement Audit (SAS 99), provides examples of fraud risk factors. The appendix is available at the AICPA website at: http://www.aicpa.org/antifraud/business_industry_govt/assessing_organization_vulnerability/identify_assess_risk/38.htm

The Association of Certified Fraud Examiners provides a fraud prevention checkup that can be used to assist in determining an "entity's vulnerability to fraud." http://www.cfenet.com/pdfs/FrdPrevCheckUp.pdf

In January 2003, the Institute of Internal Auditors conducted a survey on red flags used to detect fraud. Though the survey is closed, the text can be used as a checklist. http://www.gain2.org/redflags.htm

Somewhat related to the issue of fraud, Mutual Interest published an article about SAS 99 and fraud: http://www.auditnet.org/articles/SAS%2099%20Friend%20or%20Foe.PDF

FERF also wrote an article on fraud detection that will be published in the March/April 2004 issue of FE Magazine that will soon be available at http://www.fei.org/mag/.

Bob Jensen's main fraud links are at http://www.trinity.edu/rjensen/fraud.htm


December 12, 2003 message from Tracey Sutherland [return@aaahq.org

THE EDUCATIONAL COMPETENCY ASSESSMENT (ECA) WEB SITE IS LIVE! http://www.aicpa-eca.org 

The AICPA provides this resource to help educators integrate the skills-based competencies needed by entry-level accounting professionals. These competencies, defined within the AICPA Core Competency Framework Project, have been derived from academic and professional competency models and have been widely endorsed within the academic community. Created by educators for educators, the evaluation and educational strategies resources on this site are offered for your use and adaptation.

The ECA site contains a LIBRARY that, in addition to the Core Competency Database and Education Strategies, provides information and guidance on Evaluating Competency Coverage and Assessing Student Performance.

To assist you as you assess student performance and evaluate competency coverage in your courses and programs, the ECA ORGANIZERS guide you through the process of gathering, compiling and analyzing evidence and data so that you may document your activities and progress in addressing the AICPA Core Competencies.

The ECA site can be accessed through the Educator's page of aicpa.org, or at the URL listed above.

 


Gerald Trite's great set of links --- http://iago.stfx.ca/people/gtrites/Docs/bookmark.htm 

Corporate Annual Reports --- http://www.reportgallery.com/ 

The PowerPoint slides from Bill Kinney's tearful presentation in Plenary Session 3 on August 17, 2002 at the American Accounting Association Annual Meetings in San Antonio are now available at http://www.trinity.edu/rjensen/000aaa/AAAaward_files/kinney8-17-02AAA.ppt 

Although Bill's presentation focused upon one of the three "winning" proposals for curriculum revision, his introduction centered on the accounting, auditing, and corporate governance scandals. I especially recommend the buildup to Slide 5 --- that buildup was outstanding.

As soon as I can find the time (which may not be soon given my present workload), I will put some audio of highlights of this year's AAA Annual Meetings at my Website, including the audio of our treasured Bill Kinney.

The "student group" he refers to dates back to olden and golden days when Bill was one of my doctoral students. See http://www.trinity.edu/rjensen/000aaa/AAAaward_files/AAAaward02.htm 

Bob Jensen

-----Original Message----- 
From: William.Kinney@bus.utexas.edu [mailto:William.Kinney@bus.utexas.edu]  
Sent: Monday, August 19, 2002 12:52 PM 
To: Jensen, Robert Subject: AAA meeting

Bob,

It was great to see you in SAT and to watch you receive the Outstanding Educator Award. That was a well-deserved honor -- as a group we have not yet realized the potential in what you have been saying. It was also wonderful to be mentioned as part of the student group -- thanks.

Attached are my PPt slides from the talk on Saturday. I hope that they will be useful.

Bill


State of Accountancy in the Year 2002: My Lectures for Germany (Augsburg and Rothenburg) in June --- http://www.trinity.edu/rjensen/FraudConclusion.htm

I have placed a draft of my forthcoming lectures this month in Germany. Some may find some value in these and many will find issues to dispute.  I would love to hear about any suggestions for improvements.  My email address is rjensen@trinity.edu


Bob Jensen's threads on competency-based education and training are at http://www.trinity.edu/rjensen/competency.htm


"Visualization of Multidimensional Data" --- http://www.trinity.edu/rjensen/352wpVisual/000DataVisualization.htm


Accounting Tricks and Creative Accounting Schemes Intended to Mislead Investors, Creditors, and Employees --- http://www.trinity.edu/rjensen//theory/00overview/AccountingTricks.htm


Recommended Reading in Accounting, Finance, and Business

"Recommended Reading," by Beckey Bright, The Wall Street Journal, March 26, 2006 9:21 p.m.; Page R2 --- http://online.wsj.com/article/SB114305346764805424.html?mod=todays_us_the_journal_report

Bookkeeping and Accounting

 "Streetwise Finance and Accounting ... How to keep your books and manage your finances without an MBA a CPA or a PhD," By Suzanne Caplan
"While sales and marketing are the driving forces to get the cash register ringing, it's the dull task of crunching numbers that determines what the business owner gets to keep! The problem is that most small business owners hate dealing with numbers. This book is an easy to understand primer for the business owner who wants … and needs … a basic understanding of accounting and finance."
 
 "Small Business Accounting Simplified," By Daniel Sitarz
"Every year tens of thousands of small businesses fail because the owners have been unable to manage their financial affairs properly. Simplified for use by nonaccountants, this book explains the fundamentals of small-business bookkeeping in plain language and provides a comprehensive set of clear and understandable forms for tracking a small business's finances."
 
 

Finances and Investing

 "Savvy Investing for Women," By Marlene Jupiter
"This book takes a basic approach to help readers understand the world of money and investments, how to evaluate your risk tolerance, and how to create and manage a wealth-building strategy that works. Whether you are just starting out in the work force, recently inherited a family fortune, or have arrived at the peak of your career, it presents a very good base of information on strategic investing and protecting your assets as your life changes."
 
 "Wake Up and Smell the Money," By Ginger Applegarth
"For those of you who have come to realize that if your stock broker was so smart he (or she) would be retired by now, it's time to take a hard look at your financial habits and get some good old fashion money smarts. This book offers readers an excellent guide to build wealth on real street savvy time tested methods. While this book doesn't promise you a windfall or that you will become a multi-millionaire … it does offer valuable advice and guidance and just might be the best investment you'll make this year."
 
 "Values Based Financial Planning," By Bill Bachrach
"While there is a never ending stream of books on investing, most of the books were written by people who presume the reader already has bushel baskets of money lying around to invest. So what about the people who are not at the point where they have substantial money to plant and grow? This book takes a solid business approach to financial planning and a program similar to a business plan. In other words, one philosophy doesn't fit every person. Before you can achieve better financial success you have to determine what your priorities are and what will motivate you."
 
 

Taxes

 "Schedule C from A to Z - The Sole Proprietor's Guide to Tax Savings," By Robert Hughes, CPA
"With more and more sole proprietors taking on the task of doing their own bookkeeping and tax returns, not having a solid understanding of what makes up the Schedule C return means that many, if not most, sole proprietors overpay taxes by hundreds or thousands of dollars. This guide de-mystifies taxes that apply to the self-employed with the aim of helping business owners increase cash available to help their businesses prosper and grow. It takes the reader step-by-step through each line of the Schedule C and includes information to help them understand and comply with IRS rules. The updated full version for the 2005 tax year is available at
www.NASE.org/scheduleC."
 
 "Tax Savvy for Small Business," By Frederick W. Daily
"Most people don't go into business to be tax experts, but not having a basic understanding of business taxes is an expensive error to make. One of the most common mistakes small business owners make is thinking that they can just turn all their financial matters over to a bookkeeper or accountant. However, the first rule of business finances is that nobody, absolutely nobody, is going to have as much concern for your money as you will! This book is one of the best plain language books on small business taxes. Unless you have an army of accountants working for your business this book is a must read.
 
 

Raising Money

 "Where's the Money?" By Art Beroff and Dwayne Moyers
"Raising capital can be frustrating for any business. While there is no book that can guarantee you will find the money you need to start or grow a business, this guide slashes through much of the red tape and confusing jargon to put financing solutions at your fingertips. Unlike many other books on small-business financing, this book offers up expert tips, advice and secrets for writing financial statements that appeal to different audiences, filling out loan applications that get results, anticipating investor questions, and how to present your business, and yourself in a professional manner.
 
 "Investors in Your Backyard: How to Raise Business Capital from the People You Know," By Asheesh Advani
This is an excellent resource to find the information, documents and calculators you need to put a deal together and negotiate all the particulars to convince people to invest in your business. You'll find step-by-step instructions on how to raise business capital from non-traditional sources such as bank – capital in forms such as gifts, loans or equity investments – from people you already know or who know people you know. Once you have the investment team together Investors in Your Backyard will help you create the paperwork to formalize the deal and protect both sides' interests.
 
 

Marketing

 "Money-Tree Marketing," By Patrick Bishop and Jennifer A. Bishop
Written for business owners who want to achieve higher than normal yields from their marketing efforts, this book helps entrepreneurs generate customers, regardless of the business owner's budget or marketing experience, by keeping to the basics and capitalizing on what the competition "might not be doing". This book helps a small business owner increase their profits by using some unique techniques that entice potential customers into their business. More importantly, it identifies ways to make a business more customer friendly, use a customer profile to get in-depth knowledge about customers and to keep those customers coming back for more.
 
 

Legal

 "The Legal Guide for Starting & Running a Small Business," By Fred S. Steingold
Legal questions come up everyday that make business owners scratch their head and wonder what to do. Will incorporating your business give you more liability protection? Do you have all the proper permits and licenses? These are just a couple of the hundreds of questions that are routine in everyday business. Having a resource to get a basic understanding of small business legal issues is not any further away than reaching for this excellent resource of street savvy small business legal information.
 
 "Small Business Legal Smarts," By Deborah L. Jacobs
"This simple to understand book will offer readers enough information about legal issues in business to raise those little red flags in your head when something needs closer attention. Actually, it is more like a big Q&A book and a reference tool with a twist. It's organized completely around the needs of micro and small businesses. This book filters out the legalese and untangles some of the most frequent questions an entrepreneur might encounter."
 
 "The Employer's Legal Handbook," By Fred S. Steingold
For any employer, with 1 or 50 employees, having access to a well laid out reference book of "answers" is important to staying out of trouble and getting the most out of their employees. In this case this book offers a sensible, real life, approach to dealing with employees and all in easy to understand language from the initial hiring process - and asking or saying the right things - to firing an employee without getting your pants sued off.

 

Two Letters to Senator Schumer and Parts of a Spring 2002 Examination on Accounting for ESOs

On March 25, 2002, Walter P. Schuetze, former Chief Accountant of the Securities and Exchange Commission, wrote Senator Schumer a letter that leaves no doubt that he opposes booking of employee stock options when they vest. That letter is now on the Web at http://www.trinity.edu/rjensen/theory/sfas123/schuetze01.htm 

I wrote a draft reply in order to point out some opposing arguments. My reply is on the Web at http://www.trinity.edu/rjensen/theory/sfas123/jensen01.htm 

Mr. Schuetze is a friend, and my arguments in the above letter are academic. Nothing personal in any way is intended.

Educators and students may also be interested in the short case that I wrote in the form of three appendices to the letter.  Appendix A deals with the dilution controversy of failing to book employee stock options (ESOs).  Appendix B deals with the "free goods" theory of failing to book ESOs.  

Appendix C deals with the sad state of tax accounting for overly-generous ESO tax benefits.  Appendix C links to parts of actually an examination that I gave in an accounting theory course in Spring Semester 2002.

 

For added background reading, I have added some other papers/lectures by Walter Schuetze as follows:

Once again, my reply  to Walter Schuetze and my Spring 2002 part of an accounting theory examination are all linked at  at http://www.trinity.edu/rjensen/theory/sfas123/jensen01.htm 


Bob Jensen's Accounting Threads

You can both read and listen to Joel Demski's August 15 address to the AAA membership at http://www.cs.trinity.edu/~rjensen/001aaa/atlanta01.htm 

XBRL Networking --- http://xbrlnetwork.ning.com/

From EDGAR Online
FREE access to the latest ANNUAL REPORTS and PROSPECTUSES from hundreds of publicly traded companies and funds.

 


Hi Iman,

There are many useful sites, and I am sorry to say that I have not cataloged Websites on social accounting.  A few sites that might help you get started are listed below (although not all links are focused at financial reporting):

Introductory Reading Lists

http://scout.cs.wisc.edu/archives/SRA--LCSHSearch.php?SubjectID=9907 

http://www.gla.ac.uk/departments/accounting/csear/studentresources/introread.html 

http://www.business-ethics.com/web-ethi.htm 

http://webapps.unl.ac.uk/apps/faq/cf_tag_verity_detail.cfm?ID=510&sectionname=Library 

History

http://www.sustainability.com/programs/engaging/history-reporting.asp 

Journals --- http://www.mbs.unimelb.edu.au/library/mconline/serials/Serindex.htm 

Special Issue of the European Accounting Review --- http://www.bham.ac.uk/EAA/ear/conts/volume9.html 

The Ecologist --- http://www.theecologist.org/links.html?section=48 

UK Organizations --- http://cei.sunderland.ac.uk/ethsocial/orgs.htm 

http://www.ids.ac.uk/eldis/hot/ethicsguide2.htm 
Especially note the Subject Guides

Ponemon --- http://www.ftc.gov/acoas/nominations/ponemonbio.htm 

India and Bangladesh --- http://www.mimap.org/index.cfm?fuseaction=viewrep&doctype=Research  

THE NEED FOR FUNDAMENTAL RESEARCH IN ISLAMIC ACCOUNTING --- 
http://islamic-finance.net/islamic-accounting/acctg.html
 

Social Indicators --- http://www.ccsd.ca/si_exec.htm 

Impact Assessment 

http://www.enterprise-impact.org.uk/pdf/EINDecember01.pdf 

http://www.ag.unr.edu/uced/reports/technicalreports/9899reports/9899_04rpt.pdf 

Radical Disclosure Theories --- http://www.commerce.adelaide.edu.au/courses/at3/slides/disclosuresocialacc2001.pdf 

Unaccountable Accounting --- http://www.commondreams.org/views02/0128-02.htm 

Misc.

http://www.warwick.ac.uk/fac/soc/Economics/research/resdevel.htm 

http://www.neweconomics.org/default.asp?strRequest=areasofwork&pageid=57 

http://www.sums.ac.uk/staff/owen.htm 

http://www.foe.org/international/cswg/ 

http://www.cbs-network.org.uk/SocAdbib.html  

Great Old Stuff

PHANTASMAGORIC ACCOUNTING: Research and Analysis of Economic, Social and Environmental Impact of Corporate Business (Sarasota, FL: The American Accounting Association, 1977).

Hope this helps!

Bob Jensen

Dear Dr. Jensen,

My name is Iman Aref. I'm a student at the American University in Cairo, majoring in Accounting. I'm currently doing a research paper on the Social Responsibility of Financial Reporting. I was wondering if you know of any credible websites or links you can refer me to?

I did try searching the WWW for the topic, but unfortunately, I was unlucky.

Thank you for your help.

Iman Aref


Bookmarks for Educators --- http://www.trinity.edu/rjensen/bookbob.htm 

Tutorials

 


Bob Jensen's Threads on Accounting Fraud, Forensic Accounting, Securities Fraud, and White Collar Crime ---  http://www.trinity.edu/rjensen/fraud.htm 


Bob Jensen's Threads on Fees and Choosing Accountants, Financial Advisors, and Consultants --- http://www.trinity.edu/rjensen/fees.htm


I have generated some video aids for my students using Camtasia.  Camtasia is fantastic for showing and explaining something technical such as the application of software or the explanation of homework problems and illustrations in accounting.  Camtasia will capture successions of screen changes and cursor movements on your computer screen.  Camtasia will also capture your voice explanations as you go along.  It will also make audio sounds when you click on the mouse or type on the keyboard.  You may highlight cursor movements for the video.  You can also dub audio, pictures, and video clips into a video that you captured at an earlier point in time.

For my video tutorial on Camtasia, go to http://www.trinity.edu/rjensen/HelpersVideos.htm 

Since the Camtasia reader and the compression codec files for playing Camtasia avi files were not installed on any of the Trinity University lab computers, I was worried that my students could not see and hear the video helpers that I created.  Then I discovered that the Camtasia Producer that accompanies the Camtasia recorder will convert the captured avi files into RealMedia (rm) files.  The benefits of converting the avi files to rm files include the following:

I have placed a Camtasia avi file and a RealMedia file at http://www.cs.trinity.edu/~rjensen/camtasiaSample/ 
Unless you have installed the Camtasia reader, you probably will prefer to download the RealMedia version of this sample video capture of Exercise 03-07 of the Perry and Schneider book on Accounting Information Systems.

Be patient when downloading the above files.  The avi version is 29 Mb and the RealMedia version is 14.7 Mb.

Camtasia from TechSmith is described at http://www.techsmith.com/ 

Also see the following article praising the pedagogy of Camtasia:

      "A Hassle-free and Inexpensive Way to 'Videotape' Class Lectures," by Rene Leo E. Ordonez,   
      EDUCAUSE Review, September/October 2001, pp. 14-15 --- http://www.educause.edu/pub/er/erm.html 

Free Audio and Presentation Files of Three Days of Workshops on Education Technologies --- 
http://www.trinity.edu/rjensen/000aaa/CPEshows/CPEmenu.htm
 

Bob Jensen's Recent CPE/CEP Technology Workshops at the American Accounting Association Annual Meetings

During the past decade, I have organized at least one all-day technology in education workshop at each of the American Accounting Association annual meetings.  In the early years, these were not videotaped.  The past three workshops were videotaped.  Both the presentation materials and the MP3 audio files of the various speakers can be downloaded from the following links:

San Antonio on August 13, 2002 
CPE/CEP Workshop Number 1 --- http://www.cs.trinity.edu/~rjensen/002cpe/02start.htm 

Free audio and presentation files of the following speakers:
http://www.cs.trinity.edu/~rjensen/002cpe/02start.htm 

  • Dennis Beresford, University of Georgia
  • Amy Dunbar, University of Connecticut
  • Nancy Keeshan, the Global MBA and Cross-Continent MBA Programs of Duke University
  • Susan Spencer, San Antonio College
  • Bob Jensen, Trinity University

Atlanta on August 11, 2001
CPE/CEP Workshop Number 1 --- http://www.cs.trinity.edu/~rjensen/001cpe/01start.htm

Free audio and presentation files of the following speakers:
http://www.cs.trinity.edu/~rjensen/001cpe/01start.htm

  • Don Carter, Chartered Accountancy (CA) School of Business
  • Michael T. Kirschenheiter, Columbia University
  • Robert Walsh, Prentice-Hall and Marist College
  • A team of faculty from UNext
  • Bob Jensen, Trinity University

Philadelphia on August 12, 2000
 CPE/CEP Workshop Number 1 --- http://www.cs.trinity.edu/~rjensen/000cpe/00start.htm

Free audio and presentation files of the following speakers:
http://www.cs.trinity.edu/~rjensen/000cpe/00start.htm

  • Charles Hickman, AACSB and Quisic (formerly University Access)
  • Michael T. Kirschenheiter, Columbia University
  • Anthony H. Catanach, Villanova University
  • Dan N. Stone, University of Illinois
  • Bob Jensen, Trinity University


Globalization Strategic Alliances Roundtable (GSAR), Berlin, Germany, June 22, 2001 --- http://www.cs.trinity.edu/~rjensen/GSAR2001/000start.htm
Instructions:  Click on the speaker's name to hear an MP3 recording. 
                     Click on "Text" to read an outline of that speaker's prepared remarks.


Denny Beresford's Terry Breakfast Lecture
Subtitle:  Does Accounting Still Matter in the "New Economy" 

Every accounting educator and practitioner should read Professor Beresford's Lecture at http://www.trinity.edu/rjensen/beresford01.htm


Accounting for Derivative Financial Instruments and Hedging Activities

The Excel spreadsheet analyses of Examples 1-10 in FAS 133 have now been placed back online for public downloading.  They have such file names as 133ex01a, 133ex02a, etc.  The file listing of these files and other files is available at http://www.cs.trinity.edu/~rjensen/ 

My KPMG workshop cases for FAS 133 and 138 are available in the 0000KPMG folder at http://www.cs.trinity.edu/~rjensen/ 

I have some shorter cases that I used as FAS 133 examination cases in Spring 2001.  These cases are all contained in the file named quiz0107a.xls at  http://www.cs.trinity.edu/~rjensen/

Summary page http://www.cs.trinity.edu/~rjensen/13300tut.htm 

Introduction to FAS 133 and Other Cases --- http://www.trinity.edu/rjensen/caseans/000index.htm 

Introduction to FAS 138 --- http://www.cs.trinity.edu/~rjensen/000overview/mp3/138intro.htm 

Glossary for FAS 133, FAS 138, and IAS 39 --- http://www.trinity.edu/rjensen/acct5341/speakers/133glosf.htm


Draft 1 on my introductory lecture notes on Accounting Theory --- http://www.trinity.edu/rjensen/acct5341/theory.htm


Bob Jensen's Threads on Webledgers for Distributed Network Computing of Accounting Systems and Business Services  http://www.trinity.edu/rjensen/webledger.htm 


You can download (for free) nearly six hours of MP3 audio and the PowerPoint presentation slides of one of the best education technology workshops that I ever organized.  This was the pre-convention workshop that I organized for the American Accounting Association, August 12, 2000 in Philadelphia.  The speakers, topics, and download instructions are given at http://www.cs.trinity.edu/~rjensen/000cpe/00start.htm 

Workshop Title
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


Bob Jensen's Threads on Accounting, Technology, and Education http://www.trinity.edu/rjensen/threads.htm 


Five of my ACCT 5342 students wrote a tutorial on how to set up and use a NetLedger online general ledger system. You can download this tutorial.   Although they claimed it was sometimes slow, the bottom line conclusion seems to be that NetLedger is a good general ledger product.  They make some comparisons of NetLedger with QuickBooks and Peachtree. 

I have also placed the DOC version up on another server:


Threads on Return on Investment (ROI) in the e-Commerce and e-Business Era --- http://www.trinity.edu/rjensen/roi.htm 


I have a draft paper entitled "The Theory of Interest Rate Swap Overhedging" at http://www.trinity.edu/rjensen/315wp/315wp.htm 
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 http://www.cs.trinity.edu/~rjensen/000overview/mp3/138intro.htm 

The older link to my FAS 133 introduction (with audio clips from experts) is at http://www.cs.trinity.edu/~rjensen/000overview/mp3/133intro.htm

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 http://www.trinity.edu/rjensen/acct5341/speakers/133glosf.htm 


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.  You can obtain download information from http://www.cs.trinity.edu/~rjensen/288wp.htm 

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.


I am sharing the first draft of Working Paper 287 entitled Underhedging 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.  You can obtain download information from http://www.cs.trinity.edu/~rjensen/287wp.htm 

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.


To aid you in finding threaded messages on various topics, I have created a new document of links called "Bob Jensen's Threads."  Give it a try at http://www.trinity.edu/rjensen/threads.htm 


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 --- http://www.trinity.edu/rjensen/distcost.htm


Why was there a decline number in U.S. accounting majors declined by 23% between 1995 and 1999?  Bob Jensen's Threads on the Decline in U.S. Accounting Majors http://www.trinity.edu/rjensen/majors.htm


With a little help from my friends, I learned some new things about PDF files this week.  You can read my comments and the threaded messages at http://www.trinity.edu/rjensen/acrobat.htm 

I illustrate how it is quite easy to convert a HTML document into a PDF document (an almost perfect conversion) versus converting a PDF document back into a HTML document ( a less-than-perfect conversion).

I thread Richard Campbell's message about how to secure an online PDF document such that nobody can copy any part of the document or print any part of the document (other than to capture portions of pages as graphics files).  It is also possible to secure an online PDF document such that it cannot be converted into HTML using Adobe's conversion program.

I provide update threads on Adobe's new and frustrating PDF search engine that appears to be outsourced to Altavista.  Craig Polhemus mentions some alternative PDF search engines being considered by the American Accounting Association.

Once again those threads are at http://www.trinity.edu/rjensen/acrobat.htm 


I wrote a new introduction to FAS 133 and IAS 39 on Accounting for Derivative Financial Instruments and Hedging Activities.   It includes audio clips from experts.  
See http://www.cs.trinity.edu/~rjensen/000overview/mp3/133intro.htm 

You may also find cases and other links at http://www.trinity.edu/rjensen/caseans/000index.htm


I updated my threaded messaging of XML, XFRML XBRL, XForm, and RDF standards that will become the most important networking standards of the 21st Century.  What is XBRL and why will it change the business reporting world in the 21st Century?  The answers are given at http://www.trinity.edu/rjensen/xmlrdf.htm


I was asked to evaluate a distributed education future document for Organization XXXX.  I  have placed a copy of my off-the-wall review at http://www.trinity.edu/rjensen/futurenet.htm


The Napster/Gnutella paradigm shift in networking technology is so important to the world that I would like to see continued dialog from other friends and acquaintances on this real paradigm shift taking place in front of our eyes and ears.  The founder of Netscape, Mark Andreessen, states the following:

It's a big deal," said Andreessen, who met with Gnutella developers last week and quickly became an admirer. "It will be a way for businesses to expose what they want people to find more easily." 

For my threads on this paradigm shift, go to http://www.trinity.edu/rjensen/napster.htm 


The American Accounting Association asked by to provide some advice to new faculty regarding educational technologies.  That document also contains my Letter to the Editor of The Wall Street Journal.  Our essay and my letter can be found at http://www.trinity.edu/rjensen/000aaa/newfaculty.htm


I have written a futuristic letter and pasted up the many response messages about auditor independence and the pending breakup or reorganization of CPA firms.  The web address of my Career Passed Away document is at http://www.trinity.edu/rjensen/cpaaway.htm


Dr. Hubbard and I are sending to the FASB as part of our comment on the FASB's Exposure Draft No. 207-A entitled Accounting for Certain Derivative Instruments and Certain Hedging Activitiesan amendment of FASB Statement No. 133 --- http://www.rutgers.edu/Accounting/raw/fasb/draft/amend133_ED.pdf 

We hope that the FASB will include our proposed calculation corrections in the table on Page 75 of FAS 133 and add our proposed explanation of the yield curve derivations to the FASB's Amendments to FAS 133.

The Hubbard and Jensen paper can be downloaded as follows:

Working Paper 305:  Some Corrections and Explanations of Example 5 in FAS 133
The HTML version is at http://www.trinity.edu/rjensen/caseans/133ex05.htm 

The revised spreadsheet is at http://www.trinity.edu/rjensen/caseans/133ex05a.xls


If you want to read more about the latest news on paradigm shifts in distance education and research at some of the most prestigious universities in the world, click on http://www.trinity.edu/rjensen/245prest.htm 
This document will also give you directions on how to subscribe to a free journal called Academy Online.


I have an Excel spreadsheet embedded in an HTML document that illustrates how students can change the data in one or more cells and then see the outcomes change in other parts of the spreadsheet and graphs.  The important thing is that they can do these dynamic changes in the web browser without downloading an Excel file and then having to run the file in Excel.  They never have to leave the web browser.  This is a new feature of Excel 2000.  You can do the same thing with MS Access databases.  It only takes about five minutes to learn how to do this.  The illustration and instructions are at http://www.trinity.edu/rjensen/dhtml/excel01.htm.


I have four cases in hedging strategies and accounting via Eurodollar interest rate futures and options.  There is also an older case involving a international copper movements and a copper price swap.  The index to all these cases is at
http://www.trinity.edu/rjensen/acct5341/133cases/000index.htm

The case solutions are on a secret server.  You must contact me privately for the case solutions:  rjensen@trinity.edu 


I chaired two conferences entitled  "Implementing FAS 133:  Accounting for Derivative Instruments and Hedging Activities" http://www.worldrg.com/FA981/ .   The places, dates, and hotels were as follows:

Chicago (September 29-October 1 in the Hyatt Regency) 
Washington DC (October 27-29 in the Key Bridge Marrott).

You can link to audio clips of some of the experts from the above organization by going to http://www.cs.trinity.edu/~rjensen/000overview/133suma.htm 

You can find links to my FAS 133/IAS 39 Glossary and other documents at http://www.trinity.edu/rjensen/acct5341/speakers/133glosf.htm 

I have some SFAS 133 documents on "Accounting for Derivative Instruments and Hedging Activities."  Unfortunately my tutorials cannot be made available to the general public since they contain answers that I do not want my students to see.  However, you may view the following documents:

 


Old Links 

In March 2000 Forbes named AccountantsWorld.com as the Best Website on the Web --- http://accountantsworld.com/.
Some top accountancy links --- http://accountantsworld.com/category.asp?id=Accounting

Links to Bob Jensen's Workshop Documents on Education and Learning

The Shocking Future of Education 

First File

Second File

Bob Jensen's Threads on Cross-Border (Transnational) Training and Education
(Includes helpers for finding online training and education courses, certificate programs, and degree Programs)
Detail File

Alternatives and Tricks/Tools of the Trade

First File

Second File

The Dark Side of the 21st Century: Concerns About Technologies in Education

 Detail File

Assessment Issues, Case Studies, and Research Detail File
History and Future of Course Authoring Technologies Detail File
Knowledge Portals and Vortals Detail File
Bob Jensen's Advice to New Faculty (and Resources) Detail File
Threads of Online Program Costs and Faculty Compensation Detail File
Bob Jensen's Helper Videos and Tutorials Detail File
Jensen and Sandlin Book entitled Electronic Teaching and Learning: Trends in Adapting to Hypertext, Hypermedia, and Networks in Higher Education
(both the 1994 and 1997 Updated Versions)
Old Book

Some Earlier Papers

 

Additional Links and Threads Threads

 

 

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