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Mastery of the Financial Accounting Research System (FARS) Through Cases, 2nd Edition

ISBN: 978-0-470-42939-6
352 pages
July 2008, ©2008
Mastery of the Financial Accounting Research System (FARS) Through Cases, 2nd Edition (0470429399) cover image


With its clear explanation of how to use FARS effectively, this casebook will help readers gain a better understanding of generally accepted accounting principles, exercise judgment in their interpretation and application, and meet the challenges that will arise in their accounting careers. They'll also learn how to sharpen their analytical abilities, design search phrases using Boolean logic, and cope with contradictions and ever changing guidance in regulation and business practices.
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Table of Contents

Chapter 1:     The Financial Accounting Research System (FARS) Primer

Chapter 2:     Resources Beyond the Financial Accounting Research System (FARS)

Chapter 3::    Building Your Business Vocabulary: Defining Terms and Solving Problems Through FARS

Chapter 4:     Brain Teasers: Using FARS to Untangle the Mystery

Chapter 5:       Cases to Accompany FARS

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Author Information

Wanda A. Wallace, Ph.D., CPA, CMA, CIA is the John N. Dalton Professor of Business Administration at the College of William and Mary in Williamsburg, Virginia.

Dr. Wallace has received the Wildman Gold Medal awarded to the most significant literary contribution to the advancement of public accounting over a three-year period by the American Accounting Association (AAA) and Deloitte. She has also been awarded a Certificate of Distinguished Performance on the Certified Management Accounting Examination and the Highest Achievement Award (Gold Medal) on the international certified Internal Auditor Examination. A past AAA Vice President, Dr. Wallace has served on the Financial Accounting Standards Advisory Council (FASAC) that advises the Financial Accounting Standards Board (FASB) in 1991 and on the Government Auditing Standards Advisory Council. She has authored over 40 books and monographs, and over 200 articles in such journals as the Harvard Business  Review, CPA Journal, Government Finance Review, and Wall Street Journal.

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New to This Edition

·                     The second edition emphasize the content of the accounting research database (FARS) and how to use it, rather than the particular interface by the user i.e., whether the user accesses a CD or Internet version of FARS.


·                     Flexibility of the casebook is maintained i.e., able to use the product across multiple courses and levels of instruction, covering key areas of practice and theory.


·                     The Primer (Chapter 1) is updated to reflect the format and content of FARS, with an emphasis on the content available in the database. A discussion of how the database evolves as new pronouncements emerge and its effect on searches is incorporated. In addition, a "general approach" primer discussion of which infobase (e.g., FASB-OP, FASB-OP (As Amended), FASB-CT, EITF Abstracts etc.,) is more likely to address which type of questions is provided. Some additional self-help, hand - holding types of self-review questions and answers are provided as well as an overview of types of standards and issues associated with the research process.


·                     Resources Beyond The Financial Accounting Research System (Chapter 2) is updated for web sites and developments in databases. A 2005 event is used for a small public company, permitting emphasis on revenue recognition issues, regulatory processes, and developments associated with restatements.


·                     Building Your Vocabulary: Defining Terms And Solving Problems Through FARS (Chapter 3)adds and subtracts relevant vocabulary based on developments and a number of self-help, hand-holding types of problems are now included


·                     Brain Teasers: Using FARS To Untangle The Mystery (Chapter 4) is updated for effects of recent pronouncements and developments in practice. In addition to the required portions of these Brain Teasers, we will add some directed questions tied to the subject matter of the brain teaser, including some hand - holding, self/study examples. There are new brain teaser’s and questions that tie to subject matter across the curricula.


·                     Cases To Accompany FARS (Chapter 5) is updated for developments, shortened when it is possible, and both glossary terms and further readings were enhanced to reflect latest events. We have added some type of directed self-study component to each case.


·                     A Teaching Notes orientation will be taken in providing resources for instructors using the second edition (similar to the shortened Instructors' Manual that accompanied the first edition)


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The Wiley Advantage

•           Every new copy of the casebook can be packaged with the latest version of FARS CD or FARS Online (http://www.wiley.com/college/farsonline)

•           Correlations guides are available that tie the casebook to all Wiley Accounting textbooks. The casebook can be packaged with any Wiley Accounting text for a discount price.

•           Mastering FARS Online, a series of interactive tutorials available via the internet support use of FARS and casebook (http://www.wiley.com/college/masteringfarsonline)

•           Author Wanda A. Wallace is a recognized leader in the accounting industry with a strong scholarly reputation.


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