2006 Headlines
Celebrate international culture
Monday, November 13, kicks of International Education Week at the Johnson School, a weeklong series of cultural and education events, sponsored by student clubs and the academic international exchange program.
This annual event is coordinated by Gary Katzenstein, senior lecturer of global business, and management and organizations, and Rhonda Velazquez, director of student activities and special events. Funding is provided by the Graduate and Professional Student Assembly Finance Commission, student clubs, and the Johnson School. The week aims to join the Johnson School with educational institutions around the world in celebrating and promoting international education and exchange.
An Asian Tea Demonstration by the Asia Business Association and the South Asian Business Club opens the week on Monday at 11:30 a.m. Other opportunities to sample the culture and cuisine of other cultures include a Japanese Coffee Break on Tuesday, presented by the Johnson Japan Club; Brazil Night dinner, by the Latin American Business Association; Korean Dinner, by the Korean Business Association; Middle Eastern Coffee Break, by the Middle Eastern Club; and Diwali Night, by the South Asian Business Association. All these events take place in the Dyson Atrium.
Kim Killingsworth, director, academic international exchange program, leads two information sessions during the week, where students can learn about opportunities for study abroad. She also hosts an information fair on Monday, from 3-4:30 p.m., in the atrium, where first-year students can learn about the international exchange program's partner schools.
- Participating schools include:
- Australia - Melbourne Business School
- Singapore - National University of Singapore
- Hong Kong - Hong Kong University of Science and Technology (HKUST)
- Italy - SDA Bocconi
- Spain - IESE Business School (IESE)
- UK - Manchester Business School
- Denmark - Copenhagen Business School
- Switzerland- Univ. St. Gallen
For the complete schedule of events, see the school's online calendar of events.
Cornell University Research Impacts SEC Staff Accounting Bulletin
September 19, 2006 | Ithaca, NY - Research conducted by Johnson School Accounting Professor Mark Nelson and his co-authors Steven D. Smith and Zoe-Vonna Palmrose provided input to the Securities and Exchange Commission's Staff Accounting Bulletin No. 108 issued on September 13, 2006. Prior to SAB 108, firms might evaluate the materiality of financial-statement misstatements using either the "rollover" or "iron-curtain" approaches, with the rollover approach focusing on new misstatement added in the current year, and the iron-curtain approach focusing on the cumulative amount of misstatement present in a firm's balance sheet. Misstatements that would be material under one approach could be viewed as immaterial under another approach, and not be corrected. SAB 108 now requires that firms view financial statement misstatements as material if they are material according to either the rollover or iron curtain approaches.
Professor Nelson and his co-authors support this conclusion in their research entitled "The Effect of Quantitative Materiality Approach on Auditors' Adjustment Decisions" published in The Accounting Review (Vol. 80, No. 3, 2005). They found that, "auditors are more likely to require their client to book the misstatement under the approach that makes the misstatement appear more material" and suggested that "standard setters mandate that auditors require adjustment whenever a misstatement is material under either approach."
