Department of Accounting & Finance
Permanent URI for this collectionhttps://hdl.handle.net/11274/9565
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Browsing Department of Accounting & Finance by Author "Burke, Megan M."
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Item Academic integrity policies: Has your institution implemented an effective policy?(Accounting Educators' Journal, 2016) Bristor, Julia; Burke, Megan M.There is a strong consensus that widespread breaches of academic honesty exist on university campuses. This paper argues that effective solutions must begin with an acknowledgment that a problem exists and a plan to address it through the development of a comprehensive policy. Requirements for doing so include participation of key stakeholders with clearly defined roles and responsibilities, demonstrated support on the part of senior administrators, and a process for measuring and monitoring results as a way to “close the loop."Item Benefits of an employee stock ownership plan in succession planning(Association of International Certified Professional Accountants, 2015) Burke, Megan M.Employee stock ownership plans (ESOPs) provide numerous benefits for small business owners and their employees, many of which are realized while the owner is still actively engaged in the business. In addition, proper planning for the owner's exit from the business can result in sizable tax savings. Many owners take advantage of the opportunities under Sec. 1042, which permits nonrecognition (or, more accurately, deferral) of gain on the sale of stock to an ESOP (or a worker-owned cooperative) if the seller purchases qualifying replacement property. This benefit can be magnified by using either a charitable remainder trust (CRT) or a family limited partnership (FLP) along with additional trusts. Although the IRS has recently increased its scrutiny of FLPs, owning an active business through an FLP should bolster the position that the structure has the characteristics of what the IRS considers a "good" FLP.Item Great time for a GRAT(Association of International Certified Professional Accountants, 2019) Burke, Megan M.Grantor retained annuity trusts (GRATs) represent an opportunity for a client to transfer appreciating assets to the next generation with little to no gift or estate tax consequences. Wealthy families can use GRATs to freeze the value of their estate while transferring any future appreciation to the next generation free of tax. Additionally, GRATs have little downside.Item Incorporating sustainability issues into the financial accounting curriculum(The Clute Institute, 2016) Haskin, Daniel L.; Burke, Megan M.Changes in the views that society holds of capital allocation suggest that sustainability reporting needs to be incorporated into the financial accounting curriculum. This paper reviews the background and history of corporate social responsibility and sustainability reporting and discusses formation of the Sustainability Accounting Standards Board (SASB). The development of the SASB provides us with a framework to enhance the credibility and provide assurance for corporate social responsibility and sustainability reporting. A suggested outline for including sustainability reporting in a financial accounting course is presentedItem Student engagement and fun: Evidence from the field(Elm Street Press, 2019) Purinton, Elizabeth F.; Burke, Megan M.How do you entice students to engage with the class, its content, and each other? Student engagement has been linked to deeper learning, making connections to topics, and improved course performance. However, engaging students can be challenging. Recent studies have linked fun in the classroom with engagement. Fun can be categorized as fun activities and fun delivery. While fun characteristics are identified, specific examples are not presented. This paper fills that gap by presenting two fun cases in business courses. The cases illustrate that fun activities can be developed for all types of courses: undergraduate or graduate courses, online or face-to-face courses, and various subject areas. The first example is a fun activity in a face-to-face undergraduate accounting class. The second example used a fun delivery method to introduce an exercise on brand relevance in an online MBA marketing class. In general, the projects increased student engagement and course performance. Implications for classroom application are provided.Item Transferring ownership of small, closely-held business(Texas Society of Certified Public Accountants, 2016) Burke, Megan M.; Gossett, Donna; Haskin, DanielFamily-owned businesses account for a significant portion of the U.S. economy. Unfortunately, only about 30 percent of these businesses will make it into the hands of the second generation (Stalk and Foley). As the Baby Boomer generation reaches retirement age, an increasing number of small businesses face succession challenges. While some family-owned businesses develop plans to transfer ownership and executive decision making to other family members, this is not a viable strategy for all small businesses. These firms will need to examine and implement strategies for transferring business ownership to external or internal buyers.Item U.S. accounting education: Misalignment with the needs of small and medium companies(The Clute Institute, 2014) Burke, Megan M.; Gandolfi, William R.This study looks to answer the question, “Does the current accounting educational system in the United States focus too heavily on the requirements of large (and SEC registered) companies at the expense of small companies and individuals who comprise the primary clientele of most practicing CPAs?” This investigation surveys CPAs regarding their perceptions of the focus of their accounting education. The results of the survey suggest that the current accounting curriculum does not focus enough on the accounting needs of small businesses. Suggestions for improvement in the curriculum include adding small business coverage in accounting courses, including more general business courses, requiring more hands-on practice with the material and adding internships with smaller firms