• Upper Level

    How to Incorporate a Securities & Exchange Commission Staff Paper into an International Accounting Course

    Submitted by: Dov Fischer, Kean University

    We highlight the usefulness of a recent SEC Staff Paper which outlines the differences between U.S. and international accounting standards.

    NCI and Note Disclosures Associated with an Acquisition

    Submitted by: Dan Neely, UWM

    I utilize excerpts from 10-K filings to illustrate the types of note disclosures associated with business acquisitions as well as the placement of the NCI. Berkshire Hathaway is a great company to utilize for illustration purposes.

    Depreciation Methods

    Submitted by: Sue Savino, Copiah-Lincoln Community College

    This activity was developed to provide students with a way of receiving hands on experience in preparing a schedule of depreciation using the four (4) different methods presented in the textbook.

    Objectives

    Learning the four methods of preparing depreciation schedules presented in the text:

    1. Straight-line method
    2. Sum-of-the-years’ digits method
    3. Double-declining-balance method
    4. Modified Accelerated Cost Recovery System

    Procedure

    The students will be divided into evenly divided into four groups. Each group will be given the same problem scenario. Each group will then prepare a depreciation schedule for this scenario using each of the four methods. Each group chooses a representative and who will then be asked to present one of the four methods:

    • Group 1: Presents the Straight-line method on the board.
    • Group 2: Presents the Sum-of-the-years’ digits method on the board.
    • Group 3: Presents the Double-declining-balance method on the board.
    • Group 4: Presents the Modified Accelerated Cost Recovery System on the board.

    Each group will then check their solutions as the presentations are given. After all presentations are given, the students will be given 10 points for a correct solution and 5 points for one that was not.

    Rationale

    Students learn the procedure to prepare a schedule of depreciation using the four methods presented. Every student will be rewarded for participating.

    Tax Issues and Public Revenue

    Submitted by June Hanson, Upper Iowa University

    I post a link to a current federal budget issue. Then I post the link to the federal budget and ask students to go to their state and find out what the ramifications are to their state. I use the ADOT link to illustrate how the American recovery act benefited the AZ federal and state road system through the federal grants. I then post a journal entry to illustrate how to record this money and the actual object codes. I ask the students to follow the same format. I can tailor this to either a tax class or a government accounting class. This is the additional link I use http://money.cnn.com/2011/01/21/news/economy/spending_taxes_debt/index.htm