Peggy Bishop Lane is Vice Dean of the Wharton MBA Program for Executives and Adjunct Professor of Accounting. Based in Philadelphia, Professor Lane oversees both the Philadelphia and San Francisco programs. Before joining the MBA Program for Executives, she directed the academic experience for the full-time MBA Program as Deputy Vice Dean of Academic Affairs for 11 years. Professor Lane teaches Financial Accounting to first-year MBA and Executive MBA students. She is the recipient of numerous teaching awards, including “Tough, but we’ll thank you in five years.” Previously, Professor Lane was a member of the faculty at New York University’s Stern School of Business, where she was awarded the Eli Kushel Accounting Education Award for Excellence in Teaching. Her research interests include firms’ incentives to use accounting accruals to manage their financial reports, particularly in the financial services industry, which stems from her experience as an officer and analyst for First RepublicBank (now part of Bank America). Professor Lane earned her PhD from Northwestern University and a Bachelor of Business Administration from Texas Christian University. She currently serves on the board of directors of the Graduate Management Admissions Council.
This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation.
ACCT611 - FINANCIAL ACCOUNTING
The objective of this course is to provide an understanding of financial accounting fundamentals for prospective consumers of corporate financial information, such as managers, stockholders, financial analysts, and creditors. The course focuses on understanding how economic events like corporate investments, financing transactions and operating activities are recorded in the three main financial statements (i.e., the income statement, balance sheet, and statement of cash flows). Along the way, students will develop the technical skills needed to analyze corporate financial statements and disclosures for use in financial analysis, and to interpret how accounting standards and managerial incentives affect the financial reporting process. This course is recommended for students who want a more in-depth overview of the financial accounting required for understanding firm performance and potential future risks through analysis of reported financial information, such as students intending to go into security analysis and investment banking.
ACCT613 - FIN AND MNGL ACCT
This course provides an introduction to both financial and managerial accounting, and emphasizes the analysis and evaluation of accounting information as part of the managerial processes of planning, decision-making, and control. A large aspect of the course covers the fundamentals of financial accounting. The objective is to provide a basic overview of financial accounting, including basic accounting concepts and principles, as well as the structure of the income statement, balance sheet, and statement of cash flows. The course also introduces elements of managerial accounting and emphasizes the development and use of accounting information for internal decisions. Topics include cost behavior and analysis, product and service costing, and relevant costs for internal decision-making. This course is recommended for students who will be using accounting information for managing manufacturing and service operations, controlling costs, and making strategic decisions, as well as those going into general consulting or thinking of starting their own businesses.
University of Pennsylvania Whatever It Takes award, 2008
Tough but we’ll thank you in five years Core Teaching Award, 2007-2009
Commitment to Excellence Award, Hurricane Katrina efforts, 2005
Tough but we’ll thank you in five years Core Teaching Award, 2004-2005