TWILAP, Two Weeks in the Life of an Accounting Professor. Most people think I only work a few hours per week, just the time spent in the classroom. They aren’t aware of all the behind the scenes activity. In this series, I’ll journalize on what it’s like to be a professor.
This will be a tiring but very short day. I knock off on Friday afternoons, and resume Saturday evening. I will finish a new IFRS essay Saturday night (I hope), which is unfortunately not the best time of week to publish it. When work concludes on Fridays, I’m always disappointed with my lack of progress. There’s always too much to do, and too little time to do it. Computer breakdowns this week took away six precious hours. A colleague at school shared with me that people don’t realize that we (academics) live life with something always hanging over us. We are never finished with work when the day is done.
12:00-3:00 a.m.. Class preparation for Intermediate Accounting. Only one week of class remains, before finals. Students need a complete list of past and remaining HW. In addition, must send out solutions to every HW problem in recent weeks.
8:30-9:10 a.m. E- mail. There are several e-mails worth commenting on. Most importantly, there are pending developments for both IFRS and Sarbanes-Oxley. It looks like SOX opponents are going to be successful in either fatally wounding it, or doing away with it all together. According to them, it is too costly, too far reaching and simply too much regulation. Now, we want to do away with GAAP that will have the similar effects but will hit with more force? Don’t the proponents know that opposition will arise in the U.S.? IFRS will be brought to its knees.
9:10-9:30 a.m. Class preparation. Need to print handouts.
9:50-10:20 a.m. In transit.
10:20-4:10 p.m. Classes and office hours. The Managerial Accounting class astounded me with how much they remembered about some previous material. I will miss then after the semester ends. I related standard costs and variance analysis to activity based costing. and used the standard cost discussion as a segue to the balanced scorecard (BSC). I enjoyed linking BSC back to basic lessons from a lemonade stand, covered at the start of the semester.
Intermediate Accounting was cool. In this course I have a segment where a student will present some business-related topic that has a wow factor to them. Angela in the afternoon section gave a super presentation on the evolution of Black Friday, and why merchants continue to do it. During the following discussion, one student shared she starts shopping at 4 a.m. that day. It is a tradition as important to her as the Thanksgiving holiday. Angela went on to say that the “black” part of the title is a borrowed accounting term, because merchants on that day see profits in the black. After making a presentation, students are to write a reflective essay on their cool thought, and what it is about them to which the cool item appeals.
In the picture below, Intermediate Accounting students from my morning section are waiting for class to begin.
4:05-4:30 p.m. In transit back home.
Debit and credit – - David Albrecht