NEW YORK UNIVERSITY



|NEW YORK UNIVERSITY Stern School of Business | |

|Financial Reporting and Analysis B10.2302 |Summer 2002 |

| | | |

|Professor John S. Bildersee |432 Tisch Hall |Email:jbilders@stern.nyu.edu |

|Phone:212-998-0027/fax:212-995-4004 | |Web site: stern.nyu.edu/~jbilders |

| | | |

|Official course description: |

|The course uses tools learned in Financial Accounting and Reporting, such as ratio and accounting analysis, to discuss, in depth, financial |

|reporting principles, emphasizing the link between the reporting principles and the financial statements. Students will learn how management uses |

|financial reporting decisions to influence reported income and asset and liability values, and they will gain the tools necessary to analyze the |

|impacts of alternative reporting decisions on financial statements. |

|Course schedule: | |

|Wednesday classes from May 22 to July 24 | |

|Final scheduled for July 31 | | |

| | | |

|Date |Before break |After break |

|May 22 |Overview 1 (All), Revenue Recognition 2 (46-66 only), 3 (All), 5 (200-204 only), 6 (242-246 only), 7 (318-320only) |

|May 29 |Receivables 8 (All, 363-368 for lenders only) |Receivables, continued |

|June 5 |Inventories 9 (All + App. B and C) |Inventories, continued |

|June 12 |Liabilities 11 (except 529-545), Chapter 8 (363-368 only & |Leases 12 (All) |

| |for borrowers only) | |

|June 19 |Leases, continued |Leases, continued |

|June 26 |Midterm Exam (through leases) |

|July 3 |Taxes 13 (All) |Taxes, continued |

|July 10 |Taxes, continued |Pensions 14 (All) |

|July 17 |Pensions, continued |Pensions, continued |

|July 24 |EPS 15 (770-774) |Executive Compensation 15 (774-782) |

|July 31 |Final Exam | |

| |

|The text for the course is Financial Reporting and Analysis by Lawrence Revsine, Daniel W. Collins, and W. Bruce Johnson (Prentice Hall), |

|Second Edition (RCJ). Additional materials can be found on the class website or will be distributed by the professor. |

| | | |

|Grading is as follows: Midterm - 40%, Final - 45%, Class participation and homework - 15%. |

| | | |

|Everybody should bring his name card and to be prepared to discuss the day’s required homework assignment.. Although homework will not in general be|

|collected, it will be collected from time to time. Late assignments will not be accepted. The handed-in homework will be checked to see that an |

|honest effort is made. Handed-in homeworks will be part of your class participation grade. A portion of each class will be used to discuss |

|textbook problems that focus on and clarify specific issues. |

| |

|Each chapter includes execrises (E), problems (P) and cases (C). The exercises are short and focused on narrow issues. They will probably be |

|focused on first. The problems and cases are generally somewhat broader and require more thought and experience with the topics. It is likely that|

|they will receive more focus later during discussions of the topics. |

| |

|B10.2302 - Schedule of Homework Assignments: | |

| | | |

|At the end of each chapter are Exercises, Problems, and Cases, denoted E, P, and C respectively, below. Each question is also denoted by its company name |

|and topic. We will cover required homework questions in class; recommended questions are optional, but helpful for studying for the exams. Although |

|homework will not in general be collected, from time to time I will collect the day’s assignment. In this case, the handed in homework will be checked just|

|to see that an honest effort is made. The homework must be handed in when called for; no late assignments will be accepted. Homeworks will be part of your |

|class participation grade. |

| |

|Problems by topic (and chapter): | | |

|Chapter |Required |Recommended |

|Overview: | | |

|Chp.1 |C1-1 AST restatement | |

| |C1-6 TWA Extra-ordinary gain | |

|Chp. 2 |E2-10 Younger, Accounting Change |E2-11Roem Acct Change |

| |P2-11 Helen Disc Op | |

| |P2-12 Ingersoll Rand sustainable earnings | |

| |C2-2 Quaker G’s/L’s | |

|Chp. 3 | |E3-8 Franchise fee revenue |

|Chp. 6 | |P6-4 Examples of NOPAT |

| | |P6-8 General Motors |

| | |P6-18 Forecasts |

| | |P6-20 Restructuring Charges |

| | |C6-5 Microsoft Unearned Rev |

| | |C6-7 Monsanto EVA |

|Chp. 7 | |P7-1 ConAgra Exec Comp |

| | |P7-5 Cayman Exec Comp |

| | |P7-9 Microsoft Unearned Rev |

|Chp. 10 |P10-13 Major Motors chg in useful life |C10-3 Delta chg in useful life |

| | |C10-1 Microsoft R&D |

| | | |

|Receivables (May 29) | | |

|Chp. 8 |P8-9 Mik-Gen Collateralized Borrowing |P8-1 Baer-Background |

| |P8-14 Disclosures |P8-10 Atherton Factoring |

| |P8-15 Moto-Lite Real Sales? |P8-12 Fish Spotters - Restructured Note |

| |P8-16 Aurora Al. Real Sales? |C8-5 Software Tool Analysis |

| | | |

|Inventories (June 5) | | |

|Chp. 9 |E9-13 Acute DVL |E9-10 Hastings - FIFO to LIFO |

| |P9-3 Ruedy LIFO liquidation |E9-14 Fern DVL |

| |C9-1 Barbara LIFO Analysis |P9-2 Alex FIFO/LIFO |

| |C9-2 GE LIFO footnote |P9-8 Trinity LIFO/Avg cost |

| |C9-3 Harsco LIFO footnote |P9-9 Fraser FIFO/LIFO |

| |C9-6 Weldotron FIFO-LIFO switch |P9-12 Maple LIFO analysis |

| | | |

|Liabilities (June 12) | | |

|Chp. 11 |E11-5 Davis bond retirement |E11-7 Brower loss contingency |

| |E11-9 Tusk D/E swap (MV=$82,509,064) |E11-11 3Way - floating rate debt |

| |E11-10 Ledge Zero Coupon |E11-13 Wood off B/S debt |

| |P11-10 Mead reading financials |P11-6 Tango bond retirement |

| |P11-20 Chain debt-debt swap |P11-16 Rumours amortization |

| |C11-3 Delhaize disclosure |P11-17 3 loss contingency disc |

| |C11-4 ShopKo disclosure |P11-21 ALZA zero coupon disc |

| | |C11-2 TuesdayMorn disclosure |

| | |C11-5 Coca Cola disclosure |

| | | |

|Leases (June 12) | | |

|Chp. 12 |E12-2 Lafayette lessee |P12-3 Seven Wonders annuity due |

| |E12-3 East - lessee | |

| |E12-4 Ball lessee | |

| |P12-2 Seven Wonders ordinary annuity | |

| | | |

|Leases (June 19) | | |

|Chp. 12 |E12-6 Benedict sales type lease |E12-1 Fox lessor/lessee |

| |E12-7 Glade lessor drct fncng (DF) lease |E12-5 Grady lessor |

| |E12-12 Roe executory costs |E12-8 Peg sales type lease |

| |E12-13 Lane sale and leaseback |P12-7 Railcar lessor DF |

| |P12-5 Kingston ratios |P12-8 Railcar operating lease |

| |P12-11 Overseas FSA |P12-9 ABC sales type lease |

| |P12-13 Penguin disclosure |P12-10 Trans Global FSA |

| |C12-4 Delta disclosure |P12-12 Corporal FSA |

| |C12-6 Sears disclosure |C12-1 Arcadia disclosure |

| | |C12-2 May disclosure |

| | |C12-3 Tuesday Morn |

| | | |

|Taxes (July 3) | | |

|Chp. 13 |E13-6 Tyre current and deferred tax |E13-1 Allen cur tax/pay |

| |E13-3 Tow deferred tax liability |E13-2 Huff deferred tax liability |

| |E13-7 Dun current and deferred tax |E13-4 Nor deferred tax, B/S |

| |E13-8 Kent current & deferred tax |E13-5 Mill LT contracts |

| |E13-10 Black deferred tax asset |E13-9 West deferred tax asset |

| |E13-17 Finland DTA valuation allowance |E13-11 Quinn deferred tax exp. |

| |P13-9 Enid statutory Vs Fe tax rates |P13-3 Lex’ton deferred tax exp. |

| |P13-13 Crumb leasing and deferred tax |C13-4 Circuit City footnote |

| |C13-1 Baldwin footnote | |

| | | |

|Taxes (July 10) | | |

|Chp. 13 |E13-16 Mob NOL |E13-13 Town NOL |

| |E13-19 Ally comprehensive |E13-14 Ix NOL |

| |P13-6 Mete comprehensive |E13-15 Colt NOL |

| |P13-8 Baron NOL |P13-1 Moss deferred tax liability |

| |P13-11 Bush comprehensive |C13-2 Sara Lee footnote |

|Pensions (July 10) | | |

|Chp. 14 |E14-1 Seed PBO |E14-2 Kerri B/S liability |

| |E14-3 Loch prepaid cost |E14-6 Gail ROA |

| |E14-4 Webb contribution |E14-8 Dell Prepaid cost |

| |E14-5 Nome additional liability |E14-10 Payne min liability |

| |E14-7 Kane B/S liability |E14-12 Lee expense |

| |P14-7 Magee discount rate | |

| |P14-14 Kothari disclosure | |

| | | |

|Pensions (July 17) | | |

|Chp. 14 |E14-13 Bostonian comprehensive |P14-3 Pullman comprehensive |

| |E14-14 Nelson funded status reconciliation |P14-9 Saddington comprehensive |

| |P14-1 Sparta comprehensive | |

| |P14-2 Turner comprehensive | |

| |P14-5 ABC PBO,ABO & exp | |

| |P14-12 Beatty corridor amortization | |

| |C14-3 Shileny & Cribb disclosure | |

| | | |

|Earnings Per Share (EPS) (July 24) | |

|Chp. 15 |E15-12 Tam basic EPS |E15-16 Keystone repo, EPS |

| |E15-13 Fountain #shares |P15-9 GE Earnings management |

| |E15-14 Petrock basic and diluted EPS | |

| |P15-4 Holiday Roads basic & diluted EPS | |

| |P15-8 Central Sprinkler repo’s and EPS | |

| |P15-12 Kadri EPS comprehensive | |

| | | |

|Executive Stock Options (July 24) | |

|Chp. 15 |E15-11 Austin ESO’s | |

| |E15-15 Amos ESO’s | |

| |P15-6 Schlumberger ESO disclosure | |

| |C15-1 Amazon ESO disclosure | |

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