Special Lecture: The Development of Financial Accounting
- Wednesday, June 14, 2017
(door opens at 18:45)
- Temple University, Japan Campus, Mita Hall, Room 403 (Access)
- English (no translation provided)
- Registration Deadline:
- June 13, 2017
- Registration Form
- Seats are fully booked. Registration is now closed.
In 1494, Luca Pacioli, math professor, priest, and friend to Leonardo da Vinci, wrote a best-seller popularizing the "Venetian System", a double entry (debit and credit) system to record business transactions. Since that time accounting has been known as the "Language of Business" because its terms and concepts are so crucial in understanding the financial condition of any organization and because transactions can be summarized in a set of financial statements that help both managers make better decisions to run their companies, and investors make more informed investment choices.
However, financial accounting has a much longer history than even most accountants are aware. First used to keep track of the earliest business transactions, financial accounting is still used currently by global companies that are required to prepare their financial statements using the same basic concepts described by Pacioli. Furthermore, these companies are required to adhere to either the generally acceptable accounting principles (GAAP) used by U.S. companies or the International Financial Reporting Standards (IFRS) used in most other countries.
This presentation will review the origins of financial accounting as the precursor of written language and its refinement and geographic expansion in the middle ages, to its importance and limitations in business today and potential direction in the future.
About the Instructor
Professor Marco J. Malandra, CPA
Associate Professor and Faculty Advisor to Beta Alpha Psi, Temple University
Professor Malandra has taught numerous undergraduate and graduate financial, managerial, and tax accounting courses at Temple University's Fox School of Business since 1986. He has also taught at Temple-Rome in 2014, and various Executive MBA courses in Singapore, Tokyo, Cali, Morocco, Beijing, the Philadelphia Federal Reserve Bank, and in the Masters of Accountancy Program, as well as undergraduate courses at Seton Hall, Widener, and Eastern Universities, and at Philadelphia Community College.
Professor Malandra graduated from Girard College High School in Philadelphia, studied education and psychology at Antioch College in Ohio, served as a Specialist 4 Legal Clerk in the US Army at Fort Lewis, Washington, worked as a legal clerk, notary public, and process server in a criminal law practice in San Francisco, studied law under California's Law Office Study Program, and was licensed as an Attorney at Law in 1979. On receiving his BS degree in Accounting at San Francisco State University in 1980, he began his accounting career at Deloitte's Tax Department, earning an MS in Taxation at Golden Gate University, and was licensed as a Certified Public Accountant in 1983. Moving back to his hometown in 1985, he became a Tax Department Manager at Philadelphia's largest CPA firm, and in 1986 began teaching at Temple as well as establishing his own tax planning and compliance practice, still active today with more than 100 clients.