Accounting Analysis
This course discusses Russia's transition to IFRS, IFRS issues such as Impaired loans, Credit Rating Agencies, Consolidations and others. Lack of accounting transparency is a principal cause of the current global crisis.

Art Franczek
Art has been a full-time member of the AIBEc faculty since 1996, and served as Associate Dean for Academic Affairs before becoming President in 2001. He is professor of accounting and director of accounting program at AIBEc.

Purpose of this Course
This course covers such topics at Securitization, Credit Default Swaps, ABX indices and Fair Value. Cases on Citibank, AIG, Goldman Sachs, Lehman Brothers and others will be analyzed in this course. This course will be interesting not only for those in the financial sector but also for anyone who wants to understand how global issues impact the Russian Business environment.

Course Materials
Students are provided with a CD that includes the following materials:

  • Power point slides and required readings organized by topic.
  • Required Homework organized by topic.
  • Recent Harvard cases.
  • Supplemental material such as the most recent articles on Taxation and articles written by Art Franczek.

Grading
Grading of this course will be based on assignments, examinations and class participation.

During the course the students will have to prepare a case presentation, homeworks, and take the final take-home examination. Failure to attend 40% of classes leads to immediate failure in the course and loss of credit.

The course will be graded in accordance with the following schedule:

Class participation ___________ 40%
Final ________________________ 60%
Total _______________________ 100%

Course Topics
  1. Analysis of credit rating agencies
  2. In-depth review of financial statements
  3. Manipulation of financial statements
  4. RAS/IFRS/Related parties equity accounting
  5. Business combinations/consolidations
  6. SPES/Securitizations/Leasing/IFRS/GAAP
  7. Foreign currency transactions/translations
  8. Fair value/Mark-to-market
  9. Non-performing loans/Central bank
  10. Causes of global crisis and future trends in accounting
  11. Sarbanes-Oxley

Cases for Presentation
  1. World Com
  2. Enron
  3. Parmalat
  4. Coca-Cola
  5. Bear Stearns
  6. Merrill Lynch
  7. Citigroup
  8. Goldman Sachs
  9. Lehman Brothers
  10. AIG

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