MSA 630 Advanced Issues in Financial Accounting
The course will focus on the development of generally accepted accounting principles (GAAP) in the United States. Students will become familiar with the Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB), the standard-setting process, and how the two boards interact. In addition, recent standards that have been issued by the FASB and/or the IASB and current issues being addressed by each of those standard-setting bodies will be addressed. The course will also cover the relationship of the U.S. Securities and Exchange Commission (SEC) to the FASB/IASB and the authority of and the role that the SEC plays in the standard-setting process in relation to GAAP. Discussions and analysis of current real-world corporate issues such as Sarbanes Oxley, executive pay, corporate boards, and financial statement quality (earnings management) will also be included.