Richard J. Johnson Chair of the Department of Accounting and Information Systems
Professor | Accounting and Information Systems
PwC Professor in Accounting
4117B Grainger Hall
(608) 262-1028

Biography

Terry D. Warfield is the PwC Professor in Accounting at the Wisconsin School of Business. He is also the Richard J. Johnson Chair of the Department of Accounting and Information Systems.

Warfield's area of expertise is financial accounting. Prior to his academic career, he worked for five years in the banking industry and from 1995-1996 he served as the Academic Accounting Fellow in the Office of the Chief Accountant at the U.S. Securities and Exchange Commission in Washington D.C. While on the staff, he worked on projects related to financial instruments, financial institutions, and helped coordinate a symposium on intangible asset financial reporting.

Warfield's primary research interests concern financial accounting standards and disclosure policies, including the effects of accounting information and disclosures on securities markets.

He has published articles in various scholarly and practice oriented outlets. He has served on the editorial board of The Accounting Review, Accounting Horizons, and Issues in Accounting Education and has served as a reviewer for many other accounting and business journals. He has served the American Accounting Association on: the Financial Accounting Standards Committee (chair 1995-1996), the Association Council, Nominations Committee, president of the Financial Accounting and Reporting Section (2004-2006), and chair of the Regulations Committee (2007-2008). Warfield was one of three academic members of the Advisory Council to the Financial Accounting Standards Board (2005-2009). He currently serves as a trustee for the Financial Accounting Foundation.

Warfield teaches intermediate and masters-level courses in financial reporting and he has served on numerous Ph.D. dissertation committees.

He has received teaching awards at both the University of Iowa and at UW-Madison, and he has developed several case studies based on his research for use in accounting classes. These cases and related instructional articles have been published in Issues in Accounting Education and the AICPA Professor-Practitioner Case Development Program. Warfield is co-author (with D. Kieso and J. Weygandt) of Intermediate Accounting, (16th Edition, FASB Update), Intermediate Accounting (IFRS 3rd Edition), and Intermediate Accounting: Principles and Analysis (2nd Edition).

He received a B.S. and MBA from Indiana University and a Ph.D. from the University of Iowa.

Research

Selected Accepted Journal Articles

Warfield, T. & Burke, Q. & Wieland, M. (2019). Value Relevance of Disaggregated Information: An Examination of the Rate and Volume Analysis of Bank Net Interest Income Accounting Horizons

Selected Published Journal Articles

Clor Proell, S. & Warfield, T. & Proell, C. (2014). The Effects of Presentation Salience and Measurement Subjectivity on Nonprofessional Investors' Fair Value Judgments Contemporary Accounting Research

Warfield, T. & Luo, T. (2012). The implementation effects of expanded consolidation: the case of consolidating special purpose entities Accounting and Finance

Dickinson, V. & Kimmel, P. & Warfield, T. (2012). The Accounting and Market Consequences of Accelerated Share Repurchases Review of Accounting Studies

Cheng, Q. & Warfield, T. & Ye, M. (2011). Equity incentives and earnings management: Evidence from the banking industry Journal of Accounting, Auditing and Finance

Kohlbeck, M. & Warfield, T. (2010). Accounting Standard Attributes and Accounting Quality Research in Accounting Regulation

Cheng, Q. & Warfield, T. (2005). Equity incentives and earnings management The Accounting Review

Cheng, Q. & Frischmann, P. & Warfield, T. (2003). The market perception of corporate claims Research in Accounting Regulation

Skaife, H. & Warfield, T. (2003). Audits as a Corporate Governance Mechanism: Evidence from the German Market Journal of International Accounting Research

Selected Submitted Journal Articles

Warfield, T. & Kaufman, M. & Convery, A. (2018). Stakeholder-standard-setter interaction and the boundaries of financial reporting Accounting, Organizations and Society

Presentations

Accounting Research Workshop (2016) Bank Interest Rate Risk Management and Valuation of Earnings

Accounting Research Workshop (2013) The Relevance and Faithful Representation of Pension Measurements

Accounting Research Workshop (2011) IFRS: Convergence and More

Accounting Research Workshop (2011) IFRS Convergence

AAA Annual Meeting (2010) Use of Technology in On-Line Forums

Accounting Research Workshop (2009) The Accounting Consequences of Accelerated Share Repurchases

Accounting Research Workshop (2009) The Accounting Consequences of Accelerated Share Repurchases

Accounting Research Workshop (2009) The Accounting Consequences of Accelerated Share Repurchases

Teaching

Undergraduate Courses

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2003.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2004.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2005.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2001.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2001.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2001.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2006.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Practice Issues in Accounting and Auditing (ACC 601), Spring 2002.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Professional Issues (AIS 601), Spring 2007.
Study of current accounting and audit issues within a case context. Students will be required to perform computerized research, analyze topical accounting and audit issues, and make case presentations. Intensive three week course to build on experiences developed during the internship program.

Reading & Rsch-Accounting (AIS 399), Spring 2008.
Reading and Research-Accounting

Bus Fund for Non-Bus Majors I (BUS 310), Fall 2010.
Part of a two course sequence introducing non-business students to basic concepts, practices and analytical methods that are part of the market enterprise system. This course is a basic overview on: accounting, finance, and business law.

Fundamentals of Accounting and (BUS 310), Fall 2011.
Part of a two course sequence introducing non-business students to basic concepts, practices and analytical methods that are part of the market enterprise system. This course is a basic overview on: accounting, finance, and business law.

Financial Reporting II (ACC 302), Fall 2003.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax allocation, pensions, leases and accounting changes.

Financial Reporting II (AIS 302), Spring 2008.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax allocation, pensions, leases and accounting changes.

Financial Reporting I (AIS/AIS 301), Fall 2017. Download Syllabus
Intermediate accounting I - required accounting course for accounting and finance students.

Introduc tory Accounting (ACC/ACC 100), Spring 2013.
Introduction to Financial Accounting - Required course for all students in WI School of Business. I serve as course coordinator and oversee 3 TAs, who lead lectures.

Introductory Accounting (ACC/ACC 100), Fall 2013.
Introduction to Financial Accounting - Required course for all students in WI School of Business. I serve as course coordinator and oversee 18 TAs, who lead lectures.

Introduction to Business (BUS 100), Fall 2009.
Introduction to the basic concepts, practices and analytical methods that are part of the market enterprise system. Overview of the basic functions: management, accounting, finance, operations, and marketing conducted within a social and ethical framework.

Graduate Courses

Seminar in Financial Accounting Theory (ACC 770), Fall 2005.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Seminar in Financial Accounting Theory (ACC 770), Fall 2005.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Seminar in Financial Accounting Theory (AIS 770), Fall 2006.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Seminar in Financial Accounting Theory (AIS 770), Fall 2006.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Financial Reporting Theory (AIS 770), Fall 2007.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Financial Reporting Theory (AIS 770), Fall 2007.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Smr:Financial Reporting Theory (ACC 770), Fall 2008.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Smr:Financial Reporting Theory (ACC 770), Fall 2008.
Intensive study and critical examination of accounting theories, concepts and standards; evaluations of the pronouncements of professional societies and governmental agencies.

Capstone in Accounting (AIS 765), Fall 2017. Download Syllabus
1-Year Capstone course with 6 varied modules on contemporary issues.

Hybrid Courses

Financial Reporting II (AIS/AIS 702/302), Fall 2010.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax allocation, pensions, leases and accounting changes.

Financial Reporting II (AIS/AIS 302/702), Fall 2011.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax alloca

Financial Reporting II (ACC/ACC 302/702), Fall 2008.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax allocation, pensions, leases and accounting changes.

Financial Reporting II (ACC/ACC 302/702), Fall 2001.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax allocation, pensions, leases and accounting changes.

Financial Reporting II (ACC/ACC 302/702), Fall 2004.
Examines current and emerging financial accounting theory and techniques used to measure and report financial information to investors, creditors, and other external users, including dilutive securities, investments, revenue recognition, income tax allocation, pensions, leases and accounting changes.

Learning/Teaching Oriented Publications

Kieso, D. & Weygandt, J. & Warfield, T. (2014). Intermediate Accounting - 2nd Edition: IFRS Edition

Kieso, D. & Weygandt, J. & Warfield, T. (2014). Intermediate Accounting, 15th Edition - FASB Update

Kieso, D. & Weygandt, J. & Warfield, T. (2013). Intermediate Accounting, 15th Edition

Kieso, D. & Weygandt, J. & Warfield, T. (2011). Intermediate Accounting, 14th Edition

Dickinson, V. & Kimmel, P. & Warfield, T. (2011). Bioscience Company: Accounting for Idle Plant Assets. Issues in Accounting Education

Kieso, D. & Weygandt, J. & Warfield, T. (2010). Intermediate Accounting: IFRS Edition

Kimmel, P. & Warfield, T. (2008). Accelerating Corporate Performance: Stock Buy Backs with Zip Issues in Accounting Education

Warfield, T. & Skaife, H. & Zehms, K. (2002). Effects of Repeated Practice and Contextual Writing Experiences on College Students' Writing Skills Journal of Educational Psychology

Kieso, D. & Weygandt, J. & Warfield, T. (2017). Intermediate Accounting - 3rd Edition: IFRS Edition

Kieso, D. & Weygandt, J. & Warfield, T. (2016). Intermediate Accounting, 16th Edition

Service

Editorial and Reviewing Activities

Accounting Horizons - Since January 2015
Editorial Board Member

Accounting Horizons - January 2013 - December 2013
Ad Hoc Reviewer

Accounting Horizons - December 2008 - December 2010
Associate Editor