Directory

Directory

Bill Thomas

Professor - Accounting & Business Law

Contact Information

Email:  Bill_Thomas@baylor.edu
Homepage:  http://business.baylor.edu/Bill_thomas/home.htm
Campus Phone:  (254) 710-4924
Fax:  (254) 710-1067
Mailing Address:  One Bear Place #98002
Waco, TX  76798-8002
Office Location:  Accounting Suite 120, Room 127

Office Hours

M-R 9:00-11:00

Educational Background

  • Ph D - Business Administration, The University of Texas at Austin, 1978
  • MBA - Business Administration, BAYLOR UNIVERSITY, 1971
  • BBA - Accounting, BAYLOR UNIVERSITY, 1969

Work Experience

  • KPMG/Thomas L. Holton Chair of Accountancy, Hankamer School of Business, Baylor University (June 2006 - August 31, 2011)
  • Technical Editor, Today's CPA, Texas Society of Certified Public Accountants (April 2002 - Present)
  • Accounting and Auditing Editor, Texas Society of Certified Public Accountants (March 1996 - Present)
  • J.E. Bush Professorship in Accounting, Hankamer School of Business, Baylor University (June 1995 - Present)

Consulting

  • Academic, KPMG, Orlando, FL (November 16, 2009 - November 24, 2009)
  • Management, Brazos Higher Education Group, Waco, Texas (September 2006 - Present)
  • Litigation, Southwesten Public Service Company, Amarillo, Texas (February 1, 2003 - March 31, 2003)
  • Mediation, Harelik and Fields, CPAs, Waco, Texas (August 1, 2001 - August 20, 2001)
  • Litigation, Fullbright and Jaworski, Houston, TX (April 1994 - September 1994)

Awards and Honors

  • Outstanding Professor 2011, EMBA Program Austin (May 2011)
  • Outstanding Professor, EMBA Program, Austin (May 2007)
  • Master Teacher, Baylor University (May 2004)
  • Distinguished Professor, Hankamer School of Business (May 2003)
  • Outstanding Professor, EMBA Program, Dallas (May 2002)
  • Outstanding Professor, Executive MBA Program, Dallas (May 2001)
  • Outstanding Faculty Member, Baylor University (May 1984)

Licensures and Certifications

  • Certified Public Accountant, Texas State Board of Certified Publoic Accountants (September 1969 - Present)

Professional Memberships

  • American Accounting Associaiton
  • American Institute of Certified Public Accountants
  • Central Texas Chapter of Certified Public Accountants
  • Texas Society of Certified Public Accountants

Publications

Teaching and Learning Scholarship

Financial Accounting 10e, Upper Saddle River, NJ: Pearson Prentice Hall, January 2014.

Applied or Integration/Application Scholarship

"Expanding the Responsibility for Assessment of Going Concern," Today's CPA, Vol. 41, No. 3, (November 2013), pp. 8.

"The Financial Reporting Framework for Small and Medium-Sized Entities," Today's CPA, Vol. 41, No. 2, (September 2013), pp. 36-39.

"Auditor Independence: Still Hazy After All These Years!," Today's CPA, Vol. 41, No. 1, (July 2013), pp. 30-33 (coauthors: Juan Alejandro).

"Audit Report Modifications Versus Emphasis-of-Matter," Today's CPA, Vol. 40, No. 6, (June 2013), pp. 9.

"FRF-SMEs: New Reporting Alternative for Small-to-Medium Sized Businesses," Today's CPA, Vol. 40, No. 5, (April 2013), pp. 9.

"Simple Accounting for Complex Times: Accounting Equation for Federal Government Points to Not Exactly a Happy New Year," Today's CPA, Vol. 40, No. 4, (January 2013), pp. 9.

"Safety in Numbers: Clarifying the Standard for Group Audits," Journal of Accountancy, Vol. 215, No. 3, (December 2012), pp. 32-39 (coauthors: Phil D. Wedemeyer).

"New Impairment Guidance for Indefinite Life Intangibles," Today's CPA, Vol. 40, No. 3, (November 2012), pp. 1.

"Lease Proposal Gets an Update," Today'sCPA, Vol. 40, No. 2, (September 2012), pp. 1.

"How's Your Skepticism," Today's CPA, Vol. 40, No. 1, (July 2012), pp. 1.

"Required Audit Firm Rotation," Today's CPA, Vol. 39, No. 6, (May 2012), pp. 1.

"New Proposed Revenue Recognition Standard," Today's CPA, Vol. 39, No. 5, (March 2012), pp. 1.

"Clarity Standards Bring Changes to the Audit Report," Today's CPA, Vol. 39, No. 4, (January 2012), pp. 1.

Teaching and Learning Scholarship

Financial Accounting, 9th edition, Upper Saddle River, NJ, November 2011 (coauthors: Tom Harrison, Charles Horngren).

Applied or Integration/Application Scholarship

"U.S. GAAP for Private Companies Takes Another Step Forward," Vol. 39, No. 3, (November 2011), pp. 8.

"An SEC Proposed Solution to IFRS Adoption: "Condorsement"," Vol. 39, No. 2, (September 2011), pp. 8.

"It's All About the Money (or isn't it?)," Vol. 39, No. 1, (July 2011), pp. 8.

"Ethics Education for CPAs in Texas: Is it Working?," Today's CPA, Vol. 39, No. 1, (July 2011), pp. 32-35 (coauthors: R. K. Hurtt).

"Clarified Global Auditing Standards: The Quiet Revolution," Journal of Accountancy, Vol. 211, No. 6, (June 2011), pp. 24-29 (coauthors: Jan Taylor Morris).

"An Update on Today's CPA," Today's CPA, Vol. 38, No. 6, (May 2011).

"Global Auditing Standards: Ready or Not," Vol. 38, No. 6, (May 2011), pp. 7.

"Carbon Accounting: New Opportunities for CPAs," Vol. 38, No. 4, (March 2011), pp. 8.

Teaching and Learning Scholarship

"Reflections on 40 Years of Leadership in Academia," Baylor Business Review, (Spring 2011).

Basic or Discovery Scholarship

"Principles-Based Accounting: The Case for Principled Judgment," Research on Professional Responsibility and Ethics in Accounting, Vol. 15, (2011), pp. 47-73 (coauthors: Marty Stuebs).

Applied or Integration/Application Scholarship

"Proposed Standard for Leases Requires Big Changes in Financials," Vol. 38, No. 4, (January 2011), pp. 7.

"FASB Proposes Expanded Discloures of Certain Loss Contingencies," Vol. 38, No. 3, (November 2010), pp. 7.

"New Standard Carifies Compliance Audits," Vol. 38, No. 2, (September 2010), pp. 7.

"Politics and Accounting Standard Setting: Poor Bedfellows," Vol. 38, No. 1, (July 2010), pp. 7.

"Private Company Financial Reporting: Toward Two Sets of Standards," Vol. 37, No. 6, (May 2010), pp. 7.

"As Recovery Progresses, Tune Up Your Audit Committee," Vol. 37, No. 5, (March 2010), pp. 7.

"Globalization of Auditing Standards," Vol. 37, No. 4, (January 2010), pp. 7.

Teaching and Learning Scholarship

Financial Accounting, Upper Saddle River, NJ, September 2009 (coauthors: Horngren Charles, Tom Harrison).

Applied or Integration/Application Scholarship

"Proposed Financial Regulatory Overhaul Includes Accounting Practices," Vol. 37, No. 2, (September 2009), pp. 7.

"SSARS: Big Changes in the Wind," Vol. 37, No. 1, (July 2009), pp. 7.

"Fair Value: Friend or Foe in the Credit Crisis?," Vol. 36, No. 5, (March 2009), pp. 7.

"IDEA to replace EDGAR," Vol. 36, No. 4, (January 2009), pp. 7.

"Improved Judgment in Financial Accounting: A Principled Approach," CPA Journal, The, Vol. 79, No. 1, (January 2009), pp. 32-35 (coauthors: Marty Stuebs).

"Test Driving the Codification: Accounting Research on the Fast Track," Journal of Accountancy, Vol. 206, No. 6, (December 2008), pp. 62-66 (coauthors: Carie Ford).

"FASB Codification Puts Research on the Fast Track," Today's CPA, Vol. 36, No. 3, (November 2008), pp. 36-42 (coauthors: Carie Ford).

"Human Capital: Critical to the Future of Auditing," Vol. 36, No. 2, (September 2008), pp. 7.

"Auditing Advisory Committee," Vol. 36, No. 1, (July 2008), pp. 7.

"FASB Codification: Changing the Face of Accounting Standards," Vol. 35, No. 6, (May 2008), pp. 7.

"SAS 114: Communication with Those Charged with Governance," Vol. 35, No. 5, (March 2008), pp. 7.

Teaching and Learning Scholarship

"Implementing a Required Ethics Class for Students in Accounting: The Texas Experience," Issues in Accounting Education, Vol. 23, No. No. 1, (February 2008), pp. 31-51 (coauthors: R. K. Hurtt).

Applied or Integration/Application Scholarship

"IFRS: Are You Ready?," Vol. 35, No. 4, (January 2008), pp. 7.

"Yellow Book Changes Keep GAO Audits Current," Vol. 35, No. 3, (November 2007), pp. 7.

"SASs 108-111: Putting the Risk Assessment Rubber to the Road," Today's CPA, Vol. 35, No. 3, (November 2007).

"User-Friendly Financials: An Illusory Goal?," Vol. 35, No. 2, (October 2007), pp. 7.

"The Risk Assessment Auditing Standards: Refining Auditing from the Ground Up," Today's CPA, Vol. 35, No. 2, (September 2007).

"ASB Aims for Harmony and Clarity," Vol. 35, No. 1, (August 2007), pp. 7.

"Is Over-Regulation Hurting the U.S. Economy?," Vol. 34, No. 6, (June 2007), pp. 7.

"Proposed PCAOB Audit Standard Aims to make Internal Control Audit More Efficient," Vol. 34, No. 5, (April 2007), pp. 7.

"Adding Value through the Tax Code," Today's CPA, Vol. 34, No. 4, (January 2007), pp. 24-28 (coauthors: William R. Reichenstein).

"Fair Value Gets Fairer," Vol. 34, No. 4, (January 2007), pp. 7.

"SAS 103 Tightens Audit Documentation Requirements," Vol. 34, No. 3, (January 2007), pp. 7.

"Investment Planning 101: Doing the Right Things and Doing Them Right," Today's CPA, Vol. 34, No. 3, (November 2006), pp. 24-28 (coauthors: William R. Reichenstein).

"Lease Accounting: Ripe for Change," Vol. 34, No. 2, (September 2006), pp. 7.

"Internal Controls for Small Public Companies," Vol. 34, No. 1, (July 2006), pp. 7.

"AICPA Proposes to Strength Reporting Over Internal Controls," Vol. 33, No. 6, (May 2006), pp. 7.

"The Changing Face of Accounting Changes," Vol. 33, No. 5, (March 2006), pp. 7.

"Independence Takes On New Prominence," Vol. 33, No. 4, (January 2006), pp. 7.

"Portfolio Strategies: The Real-World Lessons from Investment Theory," The AAII Journal, Vol. 28, No. 1, (January 2006), pp. 11-May (coauthors: William Reichenstein).

"Getting Specific About Audit Risk," Today's CPA, Vol. 33, No. 3, (November 2005), pp. 7.

"Ethics in Accounting Classrooms: The Grand Experiment," Today's CPA, Vol. 33, No. 2, (September 2005), pp. 7.

"Audit Documentation," Today's CPA, Vol. 33, No. 1, (July 2005), pp. 7.

"Sarbanes-Oxley: The Cascade Effect and Beyond," Today's CPA, Vol. 32, No. 5, (June 2005), pp. 34-39.

"Short-Term International Convergence," Today's CPA, Vol. 32, No. 5, (May 2005), pp. 7.

"FASB's March Toward Fair Value," Today's CPA, Vol. 32, No. 4, (March 2005), pp. 7.

"Bridging the Expectations Gap," Today's CPA, Vol. 32, No. 3, (January 2005), pp. 7.

"Signals from Sarbanes-Oxley for Best Practices in Smaller Borrowers," Commercial Lending Review, Vol. 20, No. 1, (January 2005), pp. 19-26.

"The Audit Expectation Gap of the 21st Century," KYCPA.org, Vol. II, No. III, (November 2004), pp. 10-13 (coauthors: Juan Alejandro, M. K. Pitman).

"The Cost of Sarbanes-Oxley 404," Today's CPA, Vol. 32, No. 2, (November 2004), pp. 7.

"Can Ethics Be Taught?," Today's CPA, Vol. 32, No. 1, (September 2004), pp. 7.

"Is There a Gap in GAAP?," Today's CPA, Vol. 31, No. 7, (July 2004), pp. 7.

"The Audit Expectation Gap of the 21st Century," Today's CPA, Vol. 31, No. 7, (July 2004), pp. 32-35 (coauthors: Juan Alejandro, M. K. Pitman).

"Challenges and Changes for FASB--and More to Come," Today's CPA, Vol. 31, No. 6, (May 2004), pp. 7.

Teaching and Learning Scholarship

"An Inventory of Support Materials for Teaching Ethics in the Post-Enron Era," Issues in Accounting Education, Vol. 19, No. 1, (February 2004).

Applied or Integration/Application Scholarship

"PCAOB Proposed Standard: Audits of Internal Control," Today's CPA, Vol. 31, No. 4, (January 2004), pp. 7.

"The Trials and Tribulations of Sarbanes-Oxley 404," Today's CPA, Vol. 31, No. 3, (November 2003), pp. 7.

"Ethics Committee Proposed Enhancements to Enforcement Process," Today's CPA, Vol. 31, No. 2, (September 2003), pp. 5.

"Effective Audit Committees," Today's CPA, Vol. 31, No. 1, (July 2003), pp. 5.

"Audit of the Future: New Evidence Standards Emphasize Audit Risk Assessment," Today's CPA, Vol. 30, No. 6, (May 2003), pp. 7.

"Getting it Right: A Spring Interview with Charles Niemeier," Today's CPA, Vol. 30, No. 6, (May 2003), pp. 7.

"Can Integrity Be Legislated?," Baylor Business Review, (April 2003), pp. 21.

"The New Fraud Standard: New Dimensions in Professional Skepticism," Today's CPA, Vol. 30, No. 5, (March 2003), pp. 32-37 (coauthors: Mattie C. Porter).

"The Pro's and Con's of Principles-Based Accounting," Today's CPA, Vol. 30, No. 5, (March 2003), pp. 5.

"Enron and Beyond: What's the World Coming To?," CPA Journal, The, Vol. 73, No. 1, (January 2003), pp. 8.

"Taking Stock: Speeding the Process Towards Global Harmony," Today's CPA, Vol. 30, No. 4, (January 2003), pp. 7.

"Proposed FIN for SPEs: Better Guidance for a Troubled Area," Today's CPA, Vol. 30, No. 3, (November 2002), pp. 7.

"Related Party Transactions: Full Disclosure is the Key," Today's CPA, Vol. 30, No. 2, (September 2002), pp. 7.

"Harvey Pitt: Man of the Year?," Today's CPA, Vol. 30, No. 1, (July 2002), pp. 7.

Basic or Discovery Scholarship

"The Internal Auditor's Role in the Detection and Prevention of Fraud: A Post-SAS No. 82 Analysis," Internal Auditing, Vol. 17, No. 4, (July 2002), pp. 13-Mar (coauthors: C. Clements).

Applied or Integration/Application Scholarship

"Proposed SAS on Fraud: Getting it Right?," Today's CPA, Vol. 29, No. 3, (May 2002), pp. 6.

"The Rise and Fall of the Enron Empire," Journal of Accountancy, Vol. 193, No. 4, (April 2002), pp. 41-48.

"Terrorism Not Extraordinary? Extraordinary!," Today's CPA, Vol. 28, No. 4, (March 2002), pp. 7.

"The New Language for Accounting," Today's CPA, Vol. 28, No. 3, (January 2002), pp. 7.

"Audit Committee Members: Are You Financially Literate?," Today's CPA, Vol. 27, No. 9, (November 2001), pp. 6.

"Coordination between Internal and Independent Auditors: Keys for Success in Fraud Detection for the College or University," Business Officer, Vol. 35, No. 4, (October 2001), pp. 30-34 (coauthors: Juan Alejandro).

"The New CPA Exam: Not the Same Old Enchilada," Today's CPA, Vol. 27, No. 8, (September 2001), pp. 6.

"Coordination between Internal and Independent Auditors: Keys for Success in Fraud Detection for the Not-for-Profit Entity," CPA Journal, The, Vol. LXXI, No. 8, (August 2001), pp. 62-63 (coauthors: Juan Alejandro).

"Can the Tail Wag the Dog? Revenue Recognition's Effects on Mergers and Acquisitions," Today's CPA, Vol. 27, No. 7, (July 2001), pp. 6.

"Goodbye to Amortization," Today's CPA, Vol. 27, No. 6, (May 2001), pp. 6.

"SSARS 8 Makes Big Changes in Compilations," Today's CPA, Vol. 27, No. 5, (March 2001), pp. 6.

"Poolings and Re-Pricings: Double-Whammy for Techs?," Today's CPA, Vol. 27, No. 4, (January 2001), pp. 6.

"Panel Report: Big Changes in Store for Accounting?," Today's CPA, Vol. 27, No. 3, (November 2000), pp. 8.

"Everybody Out of the Pool!," Today's CPA, Vol. 27, No. 2, (September 2000), pp. 6.

"Where Have All the Graduates Gone?," Today's CPA, Vol. 27, No. 1, (July 2000), pp. 6.

"Independence: Perception is the Problem," Today's CPA, Vol. 26, No. 6, (May 2000), pp. 10.

"The New Millennium Accountant: A Different Breed?," Today's CPA, Vol. 26, No. 5, (March 2000), pp. 10.

Teaching and Learning Scholarship

"Tearing Down the Stovepipes: One Program's Experience in Designing an Integrated Accounting Core Curriculum," Advances in Accounting Education, Vol. 3, (2000), pp. 125-150 (coauthors: Jane Baldwin, Delton Chesser, Charles E. Davis, D Hollingsworth, Michael A. Robinson).

Applied or Integration/Application Scholarship

"SAS 81: Auditing Investments," Today's CPA, Vol. 26, No. 4, (January 2000), pp. 8.

"Materiality: A New Attack on an Old Problem," Today's CPA, Vol. 26, No. 3, (November 1999), pp. 8.

"The Audit of the Future: Challenges and Opportunities," Today's CPA, Vol. 26, No. 2, (November 1999), pp. 28-31.

"Derivatives: What's In a Name?," Today's CPA, Vol. 26, No. 1, (July 1999), pp. 10.

"Co-Sourcing: What's in It for Me?," Journal of Accountancy, Vol. 187, No. 5, (May 1999), pp. 85-88 (coauthors: John T. Parish).

"Independence: "Dancin' with the One That Brung Us," Today's CPA, Vol. 25, No. 6, (May 1999), pp. 10.

"Before You Touch that Bottom Line, Beware…," Today's CPA, Vol. 25, No. 5, (March 1999), pp. 8.

"SAS 80: Electronic Tickin' and Tyin'," Today's CPA, Vol. 25, No. 4, (January 1999), pp. 10.

Basic or Discovery Scholarship

"Quality Review, Continuing Professional Education, Experience and Substandard Performance: An Empirical Study," Accounting Horizons, Vol. 12, No. 4, (December 1998), pp. 340-362 (coauthors: Charles E. Davis, Samuel L. Seaman).

Applied or Integration/Application Scholarship

"What's So Special About International Fraud?," Today's CPA, Vol. 25, No. 3, (November 1998), pp. 10.

"Predecessor Auditor Communications: Getting it Straight," Today's CPA, Vol. 25, No. 2, (September 1998), pp. 8.

"Clarifying our Relationships," Today's CPA, Vol. 25, No. 1, (July 1998), pp. 8.

"International Harmonization: Will the FASB Disappear?," Today's CPA, Vol. 24, No. 5, (March 1998), pp. 8.

"Getting Comprehensive about Income," Today's CPA, Vol. 24, No. 4, (January 1998), pp. 40.

Presentations and Proceedings

Applied or Integration/Application Scholarship

"Ethics Education for CPAs in Texas: An Update," presented at the Ethics Boot Camp, San Francisco, CA, July 2010.

"How to Integrate Fraud into Introductory Accounting Classes," presented at the Prentice-Hall Accounting Symposium for Educators (PHASE), New York, NY, April 2010.

"How to Integrate Fraud into Introductory Accounting Classes," presented at the Prentice-Hall Accounting Educators Symposium (PHASE), Phoenix, AZ, March 2010.

"How to Integrate Fraud into Introductory Accounting Classes," presented at the Prentice-Hall Accounting Symposium for Educators (PHASE), Chicago, IL, March 2010.

"How to Integrate Fraud into Introductory Accounting Classes," presented at the Prentice-Hall Accounting Symposium for Educators (PHASE), Dallas, TX, February 2010.

"International Financial Reporting Standards," presented at the Prentice-Hall Accounting Symposium for Educators (PHASE), Lenox, MA, October 2009.
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