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Business Administration: Current Financial Reporting

BSAD 295 Z1 (CRN: 60119)

3 Credit Hours

About BSAD 295 Z1

This course focuses on the development and use of two sets of financial reporting standards: International Financial Reporting Standards (IFRS) and US Private Company Council (PCC) standards. Future accounting professionals are likely to be involved with both standards during their early careers; both sets of standards are also included on the CPA exam. Course materials include the actual financial reporting standards available online, readings and cases.



Dates: May 23 - June 17, 2016; Required course specific fee of $25.00; HYBRID: week 1 in person, weeks 2-4 online; Minimum senior or graduate standing; Prereqs: BSAD 161 and 162

More Information

Section Description

The course is designed to further students? knowledge of financial accounting. The course concentrates on International Financial Reporting Standards (both IFRS and Small and Medium Size Enterprise Standards) and the Private Company standards in the US. Both are now included in the FAR section of the CPA exam. The course begins with an overview of financial accounting standard setting, both in the US and on an international basis. It then moves on to a discussion of specific IFRS, and concludes with the IFRS SME and US GAAP PCC standards. The course material includes the actual standards, IFRS and FASB website materials, videos, and readings. Senior accounting and MAcc students seeking additional exposure to financial accounting and reporting are encouraged to enroll. All course readings will be posted to the course Blackboard or be available through UVM?s Bailey-Howe databases and on-line articles. Please remember to check the Blackboard on a weekly basis.

Section Expectation

Course Objectives: ? Be able to explain the composition of both the International Accounting Standards Board and the US Financial Accounting Standards Board ? Be able to list the steps in the development and adoption of a new financial reporting standard ? Based upon a set of facts, determine if a potential financial reporting problem exists ? Identify the appropriate literature to solve a financial accounting problem ? Clearly communicate the facts and recommended solutions related to a financial accounting problem Class design: During the first week the class will use a seminar format to discuss the assigned materials. As such, it is extremely important that you read the assigned materials prior to coming to class, that you have notes on your reading, and that you are prepared to ask questions and provide answers during class discussion. This is a small class, and we should be able to have some high quality discussions of the topics. After the first week, you will be working on a series of assignments that include readings, videos, discussion board, homework and quizzes. You will also be expected to participate in an ongoing discussion with the class through various discussion board threads. You will also be assigned to a three-person work group that serves as a supporting learning environment. The class is comprised of seniors and MAcc students. The MAcc students have a lot of prior knowledge that could be helpful to those with fewer earned accounting hours.


Assignments and grading: Assessments Point value Executive summaries of the readings/discussion 150 Case analyses (2) 300 Discussion Board 250 Homework 70 Quizzes 80 Final project: Develop a teaching case 150 Total 1000




Kalkin Building 325 (View Campus Map)


to on Tuesday, Wednesday and Thursday

Important Dates

Note: These dates may change before registration begins.

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