Jeanne Sylvestre

The need for change in accounting education: An educator survey

Abstract The Accounting Education Change Commission is leading an effort to change accounting education. Whether or not accounting faculty will support such change largely depends on whether or not they agree with the nature and extent of the needed change. This paper reports the results of a survey of 984 accounting faculty undertaken to determine views of accounting faculty concerning the issues involved in the accounting education change effort. Results indicate that although overall there is wide agreement that change is needed, there is significant disagreement over both the extent and form of that change. Evidence suggests that differences in the demographics of the teaching environment and differences in faculty background are associated with differences in perceptions of the extent and form of needed change.

Business combinations: How will accounting changes affect key financial figures?

The Financial Accounting Standards Board (FASB) has announced it will eliminate pooling of interests as a method of accounting for business combinations. The authors investigate exactly what this will do to key financial statement figures.

Has SEC's Y2K policy thrown materiality out the window?

A study of 280 companies implies that ad hoc actions by the Securities and Exchange Commission (SEC) on Year 2000 Problem (Y2K) disclosure virtually replaced the time-honored, established practice of using materiality as the basis for financial reporting. Not one company in the random sample had a material impact from fixing the Y2K “problem.” So we have to ask: Did the SEC overreact?

Enhancing the effectiveness of financial reporting for the twenty-first century

There are grave concerns about the growing complexity of notes accompanying financial statements. This article reviews the initiatives taken by the FASB, the SEC, and others to simplify things. Those responsible for preparing financial statements need to pay close attention to these trends.