Charles Fazzi
Robert Morris College
Department of Accounting
881 Narrows Run Road
Coraopolis, PA 15108
Telephone: (412) 262-8489
Fax: (412) 262-8672
Email: fazzi@robert-morris.edu
Using the World Wide Web to Support Applied Research in Accounting - This project has two phases both of which rely in the students ability to successfully research sources online. Students become familiar with the use of search engines and online databases that provide firm specific information and information in generally accepted accounting principles and practices.
In phase one, students select a company from a predetermined list provided by the instructor. The list contains the names of companies that have used aggressive accounting practices that have led the company into financial difficulty. Some companies improperly applied gaap that led to SEC sanctions or bankruptcy situations. These were all reported in the business press.
Students research their company using online sources and write a report describing the firm and discussing the financial difficulties of the firm. The inappropriate or aggressive accounting practice must be thoroughly discussed. This is submitted to the instructor who grades the report on its thoroughness and completeness. Online sources must be used to complete the report and must be documented. The second phase of the project is assigned when the first paper is returned. The student must now prepare a report discussing the difficulty the company is in from the perspective of application of generally accepted accounting principles. Alternative accounting approaches must be described in this report. The student should provide a recommendation regarding how the financial difficulty could have been avoided. Once again online research sources must be used and documented in the report
The assignment was given to a Fall 1998 Accounting Theory class. Initially some students needed some assistance regarding online research. Once they became more familiar, all were able to complete phase one and phase two and did a good job. Many felt the assignment was beneficial because it afforded them an opportunity to apply internet applications to a professional problem.