Custom ACTG 493: Accounting Cases, Research and Analysis (UIC)

by Easton, Collins

ISBN: 978-1-61853-437-8 | Copyright 2020

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Financial Statement Analysis & Valuation, 6e (pg. 1.3-1)
Module 3 Profitability Analysis and Interpretation (pg. 1.3-1)
Return on Equity (ROE) (pg. 1.3-3)
Review 3-1 (pg. 1.3-4)
ROE Disaggregation: DuPont Analysis (pg. 1.3-4)
Return on Assets (pg. 1.3-4)
Financial Leverage (FL) (pg. 1.3-5)
Review 3-2 (pg. 1.3-6)
Return on Assets and Its Disaggregation (pg. 1.3-6)
Analysis of Profitability and Productivity (pg. 1.3-7)
Analysis of Profitability (pg. 1.3-8)
Analysis of Productivity (pg. 1.3-9)
Analysis of Financial Leverage (pg. 1.3-12)
Review 3-3 (pg. 1.3-14)
Balance Sheet Analysis with an Operating Focus (pg. 1.3-15)
Return on Net Operating Assets (RNOA) (pg. 1.3-15)
Net Operating Assets (NOA) (pg. 1.3-16)
Net Nonoperating Obligations (NNO) (pg. 1.3-17)
Income Statement Analysis with an Operating Focus (pg. 1.3-19)
Review 3-4 (pg. 1.3-19)
Operating Line Items on the Income Statement (pg. 1.3-20)
Nonoperating Line Items on the Income Statement (pg. 1.3-20)
Net Nonoperating Expense (NNE) (pg. 1.3-23)
Review 3-5 (pg. 1.3-23)
Return on Net Operating Assets (RNOA) (pg. 1.3-24)
RNOA Disaggregation into Margin and Turnover (pg. 1.3-26)
Review 3-6 (pg. 1.3-26)
Net Operating Profit Margin (pg. 1.3-27)
Net Operating Asset Turnover (pg. 1.3-27)
Trade-Off between Margin and Turnover (pg. 1.3-28)
Review 3-7 (pg. 1.3-30)
Analyzing Global Reports (pg. 1.3-30)
Appendix 3A: Operating versus Nonoperating Classification (pg. 1.3-31)
Appendix 3B: Nonoperating Return Component of ROE (pg. 1.3-32)
Nonoperating Return (pg. 1.3-32)
Nonoperating Return- With Substantial Net Nonoperating Assets: Amazon (pg. 1.3-34)
Nonoperating Return- With Noncontrolling Interest: AT&T (pg. 1.3-35)
Review 3-8 (pg. 1.3-36)
Appendix 3C: Vertical and Horizontal Analysis (pg. 1.3-36)
Limitations of Ratio Analysis (pg. 1.3-37)
Review 3-9 (pg. 1.3-39)
Guidance Answer (pg. 1.3-40)
Questions (pg. 1.3-40)
Mini Exercises (pg. 1.3-40)
Exercises (pg. 1.3-44)
Problems (pg. 1.3-49)
IFRS Application (pg. 1.3-56)
Analysis Discussion Points (pg. 1.3-56)
Ongoing Analysis Project (pg. 1.3-57)
Solutions to Reviews (pg. 1.3-58)
Skills for Accounting Research, 4e (pg. 2.20)
Chapter 2 The FASB Codification: Introduction and Search Strategies (pg. 2.20)
What is the FASB Codification? (pg. 2.22)
Now [ YOU ] Try 2.1 (pg. 2.23)
What Sources of Guidance Were Used to Populate the Codification? (pg. 2.23)
Now [ YOU ] Try 2.2 (pg. 2.24)
How is the Codification Updated? (pg. 2.24)
Navigating The Codification (pg. 2.24)
How is Information Organized Within the Codification? (pg. 2.25)
Now [ YOU ] Try 2.3 (pg. 2.26)
Areas and Topics (pg. 2.26)
Now [ YOU ] Try 2.4 (pg. 2.27)
Subtopics (pg. 2.28)
Now [ YOU ] Try 2.5 (pg. 2.28)
Sections (pg. 2.28)
Now [ YOU ] Try 2.6 (pg. 2.33)
Subsections and Paragraphs (pg. 2.33)
Now [ YOU ] Try 2.7 (pg. 2.34)
Tips for Performing Browse Searches (pg. 2.35)
Join All Sections (pg. 2.35)
Navigating a Subtopic, Considering All Areas of “Required Reading” (pg. 2.36)
Now [ YOU ] Try 2.8 (pg. 2.38)
Other Search Methods (pg. 2.39)
Keyword Searches (pg. 2.39)
Now [ YOU ] Try 2.9 (pg. 2.42)
Now [ YOU ] Try 2.10 (pg. 2.43)
Search by ASC Reference Number (pg. 2.43)
Cross Reference Tab (pg. 2.44)
Master Glossary (pg. 2.44)
Pending Content and Effective Dates (pg. 2.45)
What is “Pending Content”? (pg. 2.45)
Now [ YOU ] Try 2.11 (pg. 2.45)
Understanding Effective Dates (pg. 2.46)
Now [ YOU ] Try 2.12 (pg. 2.46)
Private Company Accounting Alternatives in the Codification (pg. 2.47)
Now [ YOU ] Try 2.13 (pg. 2.47)
Chapter Summary (pg. 2.47)
Review Questions (pg. 2.47)
Exercises (pg. 2.49)
Case Study Questions (pg. 2.50)
Chapter 3 The Research Process (pg. 2.54)
Why Use A Research Process? (pg. 2.56)
The Accounting Research Process (pg. 2.56)
Pre-Step: Understand the Business (Industry) (pg. 2.57)
Now [ YOU ] Try 3.1 (pg. 2.59)
Step 1: Understand the Facts/Background of the Transaction (pg. 2.59)
Now [ YOU ] Try 3.2 (pg. 2.60)
Step 2: Define the Problem. That Is, Identify the “Researchable Question.” (pg. 2.61)
Now [ YOU ] Try 3.3 (pg. 2.62)
Now [ YOU ] Try 3.4 (pg. 2.62)
Step 3: Stop and Think: What Accounting Treatment Will Likely Be Appropriate? (pg. 2.62)
Step 4: Search Potentially Relevant Sources of Guidance, Copying Any Relevant Guidance into a Word (pg. 2.63)
Now [ YOU ] Try 3.5 (pg. 2.63)
Now [ YOU ] Try 3.6 (pg. 2.64)
Step 5: Analyze Alternatives, Documenting Your Consideration of Each (pg. 2.65)
Now [ YOU ] Try 3.7 (pg. 2.65)
Step 6: Justify and Document Your Conclusion (pg. 2.67)
Now [ YOU ] Try 3.8 (pg. 2.67)
Judgment And Decision Making-A Brief Introduction (pg. 2.67)
Common Biases (pg. 2.68)
Now [ YOU ] Try 3.9 (pg. 2.69)
Learn from Your Mistakes (and Successes!) (pg. 2.70)
Now [ YOU ] Try 3.10 (pg. 2.70)
Chapter Summary (pg. 2.70)
Review Questions (pg. 2.71)
Exercises (pg. 2.71)
Case Study Questions (pg. 2.73)
Additional References (pg. 2.75)
Chapter 4 Creating Effective Documentation (pg. 2.76)
Documentation Is Integral to Accounting Research (pg. 2.78)
Communicating Accounting Research (pg. 2.79)
Emailing the Results of Research Questions (pg. 2.79)
Now [ YOU ] Try 4.1 (pg. 2.81)
Drafting an Accounting Issues Memorandum (pg. 2.83)
Facts (pg. 2.84)
Now [ YOU ] Try 4.2 (pg. 2.85)
Issue(s) (pg. 2.86)
Analysis (pg. 2.86)
Now [ YOU ] Try 4.3 (pg. 2.89)
Now [ YOU ] Try 4.4 (pg. 2.90)
Now [ YOU ] Try 4.5 (pg. 2.91)
Now [ YOU ] Try 4.6 (pg. 2.92)
Financial Statement and Disclosure Impacts (pg. 2.93)
Reread Your Work Before Submitting (and what to look for) (pg. 2.93)
Now [ YOU ] Try 4.7 (pg. 2.94)
Properly Referencing Accounting Guidance (pg. 2.94)
How Do I Reference a Passage from the Codification? (pg. 2.94)
Now [ YOU ] Try 4.8 (pg. 2.95)
Should I Ever Use Footnotes in Professional Memos? (pg. 2.95)
When Should I Use Quotation Marks? (pg. 2.96)
When Is It Appropriate to Alter an Excerpt from the Guidance? (pg. 2.96)
When Is It Appropriate to Use Ellipses? (pg. 2.97)
Style Tips for Professional Communication (pg. 2.98)
Use Proper Voice in Your Memos (pg. 2.98)
Keep Your Language Neutral (Avoid Strong Words) (pg. 2.98)
Get the Grammar Right (pg. 2.99)
Getting Feedback On Your Writing (pg. 2.100)
Chapter 4 Appendix (pg. 2.101)
Sample Accounting Issues Memo (pg. 2.101)
Chapter Summary (pg. 2.105)
Review Questions (pg. 2.105)
Exercises (pg. 2.106)
Case Study Questions (pg. 2.108)
Chapter 5 Using Nonauthoritative Sources to Supplement Codification Research (pg. 2.110)
Nonauthoritative Guidance: What Is It, And How Is It Used? (pg. 2.112)
Now [ YOU ] Try 5.1 (pg. 2.113)
Benefits of Nonauthoritative Guidance (pg. 2.113)
Sources of Nonauthoritative Guidance (pg. 2.114)
FASB’s Conceptual Framework (pg. 2.114)
Now [ YOU ] Try 5.2 (pg. 2.115)
Now [ YOU ] Try 5.3 (pg. 2.115)
Now [ YOU ] Try 5.4 (pg. 2.116)
Now [ YOU ] Try 5.5 (pg. 2.117)
Accounting Standards Updates and Pre-Codification Standards (pg. 2.123)
Using Nonauthoritative Sources: There’s a Right Way, and a Wrong Way (pg. 2.138)
Is It Wrong to Cite Nonauthoritative Guidance Only? (pg. 2.140)
What’s the Right Way to Search Nonauthoritative Guidance? (pg. 2.140)
How Do I Reference Nonauthoritative Sources? (pg. 2.141)
Chapter Summary (pg. 2.141)
Review Questions (pg. 2.142)
Exercises (pg. 2.142)
Case Study Questions (pg. 2.144)
Peter D. Easton

Peter D. Easton

Peter D. Easton is an expert in accounting and valuation and holds the Notre Dame Alumni Chair in Accountancy in the Mendoza College of Business.

Professor Easton’s expertise is widely recognized by the academic research community and by the legal community. Professor Easton frequently serves as a consultant on accounting and valuation issues in federal and state courts.

Professor Easton holds undergraduate degrees from the University of Adelaide and the University of South Australia. He holds a graduate degree from the University of New England and a PhD in Business Administration (majoring in accounting and finance) from the University of California, Berkeley.

Professor Easton’s research on corporate valuation has been published in the Journal of Accounting and Economics, Journal of Accounting Research, The Accounting Review, Contemporary Accounting Research, Review of Accounting Studies, and Journal of Business Finance and Accounting.

Professor Easton has served as an associate editor for 11 leading accounting journals and he is currently an associate editor for the Journal of Accounting Research, Journal of Business Finance and Accounting, and Journal of Accounting, Auditing, and Finance. He is an editor of the Review of Accounting Studies.

Professor Easton has held appointments at the University of Chicago, the University of California at Berkeley, Ohio State University, Macquarie University, the Australian Graduate School of Management, the University of Melbourne, Tilburg University, National University of Singapore, Seoul National University, and Nyenrode University. He is the recipient of numerous awards for excellence in teaching and in research. Professor Easton regularly teaches accounting analysis and security valuation to MBAs. In addition, Professor Easton has taught managerial accounting at the graduate level.

Shelby Collins

Shelby Collins

Shelby Collins currently works as a consultant assisting companies with adoption of the new FASB revenue and lease accounting standards. Prior to this role, she taught the Masters-level accounting and auditing research course at the University at Buffalo School of Management from 2011 through 2016.

Shelby’s entire career has focused specifically on performing and communicating technical accounting research, in a diversity of settings. Immediately after receiving her Bachelors’ and Masters’ degrees in Accountancy from the University of Georgia, Shelby went on to serve as a postgraduate technical assistant at the Financial Accounting Standards Board (FASB). From there, Shelby went on to work in KPMG’s Accounting Advisory Services group, then in the Accounting Policy and Research group at Exelon Corporation in Chicago. In these roles, Shelby focused on the application of technical accounting guidance to complex and judgmental transactions.

While at the University at Buffalo, finding no textbook on the market that offered a hands-on, active learning approach to accounting research, she chose to create her own course materials including handouts, lecture slides, and case studies. Many of these materials have been incorporated into this book and its supplements.

Few professionals have the opportunity to hit the ground running with a career in research; accountants often get their first shot at higher-level research projects after several years on the job. Shelby's career is unique in that she started researching before she even had the depth of knowledge afforded by several years of experience. She quickly achieved that depth of knowledge through her work as a researcher. She therefore understands how to convey complex accounting concepts alongside the basic skills necessary for success in research, in a language that beginning researchers can understand. Her enthusiasm for teaching will serve as an asset to students utilizing this book.

Financial Statement Analysis & Valuation, 6e (Easton, McAnally, Sommers)
Last Updated: Mar 7 2022

Corrections to identified errors in the first printing of the text.

Appendix C
Last Updated: Jul 13 2020

Appendix C:  Comprehensive Case / Harley-Davidson

Excel Templates - Students
Last Updated: Sep 16 2020

Excel templates for use with Module Reviews.

Skills for Accounting Research, 4e - FASB Codification & eIFRS (Collins, Salzman)
Last Updated: Feb 28 2020

Corrections to identified errors in text

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