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.
ACCT612 - Accelerated Financial Accounting
The intended audience for this course is students with prior knowledge of financial accounting who understand: (1) the recording of economic transactions in the accounting records; (2) the basic financial statements that summarize a firm's economic transactions (the balance sheet, the income statement and the statement of cash flows) and (3) the fundamental concepts needed to prepare or understand published financial statements (e.g. use of accrual accounting). Exploiting prior knowledge, the course aims in six weeks to help students become effective users of financial statements.
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