Accounting Seminar 1 (Topic)

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ACCOUNTING SEMINAR
PRESENTED BY
KUSNADI NAWAWINATA, Drs.,MM
STIE MH THAMRIN JAKARTA

FINANCIAL ACCOUNTING SEMINAR

• Seminar Objective
• The primary objective of this seminar is

to expose students to ongoing and
emerging financial accounting issues
and to acquaint them with various
research methodologies used in
empirical financial accounting research.
Requirements
• Important financial accounting topics have been selected for
presentation and discussion in the seminar and a number of
papers are listed for reading on each topic. The students are
required to read the suggested papers for every meeting,
and they are encouraged to do their own search of the
literature to identify additional research papers on each
topic.
•
• All students are required to submit every week a written
report on the topic of the week. In addition to analyzing the
assigned research papers, the report should deal with
important issues related to the topic.
• Students are required to make at least one

presentation in the seminar on the assigned topic.
The presentation will consist of critical analyses of
the assigned papers on the topic of the week, which
shall highlight the research focus of the paper,
research methodology used to achieve the objective,
and include interpretation of the results. The
analytical review shall also highlight the strengths and
weaknesses of the assigned papers.
•
• A research term paper of about 20 pages will be
required by the end of the semester. The term paper
can replicate any empirical study discussed in the
seminar or it can focus on any other financial
accounting topic, and the topic would require the
instructor's approval
• The term paper shall clearly identify the

research issue being studied, methodology used
to seek answers to the problem presented in the
study, and discussion of test results and
analyses.
•
• Grading
• Presentation in the seminar - 25 points
• Weekly Report and
• Class Participation - 25 "
• Term (Research) Paper - 50 "
TENTATIVE OUTLINE
(The final outline will be
distributed on the first day of the
class)
Topic 1: Introduction to Financial

Accounting Research
• Reading:
• Abdel- Khalik, R, and B.B. Ajinkya, Empirical Research
in Accounting: A Methodological Viewpoint"
(chapters 2 & 3, pp. 9-48). Accounting Education
Series, Vol. No. 4, AAA, 1979.
•
• William Kinney, "Empirical Accounting Research
Design for Ph.D. Students", Accounting Review (April
1986): 338-350.
•
• Beaver, W.H. "Directors in Accounting Research, NEAR
AND FAR", Accounting Horizons (June 1996): 113-124.
• Additional Reading:
• Smith E, Dan, "The Effect of the Separation of

Ownership from Control on Accounting Policy
Decisions, " Accounting Review (October
1976) pp. 707-723.
•
• May and Sundem, "Research for Accounting :
An Overview,"Accounting Review (October
1976) pp. 747-763.
Topic 2 : Earnings, Price, and Returns

• Reading:
• Ball R. and Brown, " An empirical evaluation of
accounting income numbers", Journal of
Accounting Research 6 (Autumn) 1968: 159-178.
•
• Kothari, S.P. and J.L. Zimmerman, "Price and
Return Models.", Journal of Accounting and
Economics (September 1995): 155-192.
•
• Ball and Kothari, "Security ReturnsAround the
Earnings Announcements", Accounting Review,
Octonber 1991, 718-731
• Additional Reading:
•
• Bernard V. and J. Thomas, "Evidence that stock
prices do not fully reflect the implications of
current earnings for future earnings", Journal of
Accounting and Economics, 11 (December 1989)
: 305-340.
•
• Bernard V. and J. Thomas "Post-earnings
announcement drift : Delayd price response or
rsik premium?" Journal of Accounting Research,
27 (Supplement) 1989: 1-48.
•
Topic 3 : Events and Association

Studies and Earnings Response
• Reading : Coefficient
•
• Kormendi & Lipe, "Earnikngs Innovations, Earnings Persistence, and
Stock Returns, Journal of Business 1997, pp
•
• East P. and T. Harris, "Aggregate accounting earnings can explain most of
security returns : The case of long return intervals, Journal of Accounting
and Economics, 14 (July/September 1992): 19-142.\
•
• Collins D. and S.P.Kothari, "An Analysis of intertemporal and cross
sectional determinants of earnings response coefficients," Journal of
Accounting and Economics, 11 (July 1989) : 143-181.
Topic 4 : Review of Market Studies

and Usefulness of Accounting
• Reading : Information
• Baruch Lev, "On the Usefulness of Earnings and
Earnings Research : Lessons and Directions from Two
Decades of Empirical Research", Journal of Accounting
Research, Vol. 27, Supplement 1989.
•
• Strong and Walker, "The Explanatory Powers of
Earnings for Stock Returns", Accounting Review, 1993,
365-399.
•
• Baruch Lev and Paul Zarowin, " The Boundaries of
Financial reporting and How to Extend Them
Topic 5: Expanded Disclosures

• Reading :
• David Aboody and Baruch Lev, "Value-relevance of
Intangibles : The Case of Software Capitalization.
•
• Lev and Sougiannis, "The capitalization, amortization
and value-relevance of R & D", Journal of Accounting
and Economics, 21 (1996): 107-138.
•
• Eli Amir, Baruch Lev, "Value-relevance of non-financial
information: The wireless communications industry,
Journal of Accounting and Economics, 22 (1996): 3-30.
Topic 6: Earnings Management

• Reading :
• Jones, J. "earnings Management During Import Relief
Investigation" Journal of Accounting Research,
Autumn 1991, 193-228.
•
• Paul Healy, " "The effect of bonus schemes on
accounting decisions,"Journal of Accounting and
Economics, 7 (1985): 85-107.
•
• Mark L. DeFond and James Jiambalvo, "Debt
covenant violation and manipulation of accruals",
Journal of Accounting and Economics, 17 (1994): 145-
176.
• Additional Reading :
•
• Patricia Dechow, Richard Sloan and Amy
Sweeney, "Detecting Earnings Management",
•
• Christie, A.A. "On cross-sectional analysis in
Accounting Research“, Journal of Accounting
and Economics (December 1988): 586-604.
•
• Wayne R. Guy, S.P. Kothari, and Ross Watts, "A
Market-Based Evaluation of Discretionary
Accruals Models", Journal of Accounting
Research, Vol. Supplement 1996: 83-105.
Topic 7: Agency Theory and Positive

Theory
• Reading :
• Watts and Zimmerman, "Positive Accounting Theory :
A Ten Year Perspective", Accounting Review, January
1990, 131-150.
•
• Holthausen and Leftwich, "The Economic
Consequences of Accounting Choices", Journal of
Accounting and Econopmics (1983) 77-117.
•
• The Methodology of Positive Accounting", Accounting
Review (January 1983), pp. 481-517.
Topic 8 : Ohlson's Valuation Model

• Reading
• Ohlson, J.A. "Earnings; Book Values, and Dividends in
Equity Valuation," Contemporary Accounting Research
(Spring 1995): 61-687.
•
• Feltham and Ohlson, "Valuation and Clean Surplus
Accounting for Operating and Financial Activities",
Contemporary Accounting Research, 1995.
•
• Lundholm, R. " A Tutorial on the Ohlson and
Feltham/Ohlson Models……", Contemporary
Accounting Research, 1995, 746-761
Topic 9 : Re-valuation Models

• Reading:
• Mary Barth and Greg Clinch, "Revalued Financial,
Tangible, and Intangible Assets : Associations with
Share Prices and Non-Market Based Value Estimates"
(April 1998)
•
• David Aboody, Mary Barth, and Ron Kasnik,
"Revaluation of Fixed Assets and Future Firm
Performance. Evidence from U.K."
•
• Barth, Beaver, and Landsman " Value-Relevance of
Banks Fair Value Disclosures under SGSAS No. 107,
Accounting Review, October 26 513-537.
Topic 10 : Earnings Forecast Models

• Reading:
• Brown and Rozeff: "The Superiority of Analyst Gorecasts as
Measures of Expectations : Evidence from Earnings", Journal of
Finance (March 1979), pp. 1-16.
•
• John Hassell and Robert Jennings, "Relative Forecast Accuracy and
the Timings of Earnings Forecast Announcements", The
Accounting Review, January 1986, pp. 58-73.
•
• Lawrence Brown, "Earnings forecasting research : Its implications
for capital markets" International Journal of Forecasting, 1993,
295-321.
•
• Schipper, Katherin, "Commentary on Analysts Forecasts",
Accounting Horizons, Dece 1991.
Topic 11 : International Accounting

• Reading :
• Alford A. J. Jones, R Leftwick, and M. Zmijewski, "The
Relative Informativeness of Accounting Disclosures in
Difference Countries, Journal of Accounting Research
(Supplement 1993): 183-223.
•
• Chan, K.C. and G.S. Seow, "The Association Between
Stock Returns and Foreign Gaap Earnings versus
Earnings Adjusted to U.S. GAAP," Journal of Accounting
and Economics (February 1996) : 139-158.
•
• Ray Ball, S.P. Kothari and Ashok Rob, "The Effect of
Insitutional Factors on Properties of Accounting
Earnings: International Evidence."

Accounting Seminar 1 (Topic)

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STIE MH THAMRIN JAKARTA

FINANCIAL ACCOUNTING SEMINAR

• The primary objective of this seminar is

• Students are required to make at least one

• The term paper shall clearly identify the

Topic 1: Introduction to Financial

• Smith E, Dan, "The Effect of the Separation of

Topic 2 : Earnings, Price, and Returns

Topic 3 : Events and Association

Topic 4 : Review of Market Studies

Topic 5: Expanded Disclosures

Topic 6: Earnings Management

Topic 7: Agency Theory and Positive

Topic 8 : Ohlson's Valuation Model

Topic 9 : Re-valuation Models

Topic 10 : Earnings Forecast Models

Topic 11 : International Accounting

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