Steven Lilien

Professor

Zicklin School of Business

Department: Stan Ross Dept Accountancy

Areas of expertise:

Email Address: steven.lilien@baruch.cuny.edu

> View CV

Biography
Teaching
Research and Creative Activity
Grants
Honors and Awards
Service

Education

CPA, State of New York New York

Ph.D., Accountancy & Finance, New York University New York

M.S., Accountancy, New York University New York

B.S., Accountancy, New York University New York

Semester	Course Prefix	Course Number	Course Name
Fall 2023	ACC	4100	Financial Accounting III
Fall 2023	ACC	9805	Advanced Financial Accounting
Fall 2022	ACC	9805	Advanced Financial Accounting
Fall 2022	ACC	4100	Financial Accounting III
Fall 2021	ACC	9805	Advanced Financial Accounting
Fall 2021	ACC	4100	Financial Accounting III
Spring 2021	DCT	90312	Dissertation Research - Final
Fall 2020	ACC	9805	Advanced Financial Accounting
Fall 2020	DCT	90302	Dissertation Research - Propos
Fall 2020	ACC	4100	Financial Accounting III
Fall 2020	ACC	2101	Principles of Accounting
Summer 2020	ACC	9993	Special Topics in Accountancy
Spring 2020	ACC	4100	Financial Accounting III
Spring 2020	ACC	4100	Financial Accounting III
Summer 2019	ACC	9993	Special Topics in Accountancy
Spring 2019	ACC	4100	Financial Accounting III
Spring 2019	ACC	4100	Financial Accounting III
Spring 2018	ACC	4100	Financial Accounting III
Spring 2018	ACC	4100	Financial Accounting III
Fall 2017	ACC	4100	Financial Accounting III
Spring 2017	ACC	9112	Fin Acc: Intensive
Fall 2016	ACC	9112	Fin Acc: Intensive
Spring 2016	ACC	9112	Fin Acc: Intensive
Spring 2016	BUS	90000	Dissertation Supervision
Fall 2015	ACC	9112	Fin Acc: Intensive
Fall 2015	BUS	90000	Dissertation Supervision
Spring 2015	BUS	90000	Dissertation Supervision
Spring 2015	ACC	9112	Fin Acc: Intensive
Fall 2014	ACC	9112	Fin Acc: Intensive
Fall 2014	BUS	90000	Dissertation Supervision
Spring 2014	BUS	90000	Dissertation Supervision
Spring 2014	ACC	9112	Fin Acc: Intensive
Fall 2013	ACC	9112	Fin Acc: Intensive
Spring 2013	ACC	9112	Fin Acc: Intensive
Spring 2013	ACC	9901	Special Topics in Accountancy
Fall 2012	ACC	9901	Special Topics in Accountancy
Spring 2012	ACC	4100	Financial Accounting III
Spring 2012	ACC	4100	Financial Accounting III
Fall 2011	ACC	4100	Financial Accounting III
Spring 2011	ACC	4100	Financial Accounting III
Spring 2011	ACC	9809	Fin Statement Analysis III
Summer 2010	ACC	9901	Special Topics in Accountancy
Spring 2010	ACC	4100	Financial Accounting III
Spring 2010	ACC	4100	Financial Accounting III
Fall 2009	ACC	9805	Advanced Financial Accounting
Spring 2009	ACC	4100	Financial Accounting III
Fall 2008	ACC	9805	Advanced Financial Accounting
Spring 2008	ACC	4100	Financial Accounting III
Spring 2008	ACC	4100	Financial Accounting III
Fall 2007	ACC	4100	Financial Accounting III
Spring 2007	ACC	4100	Financial Accounting III
Fall 2006	ACC	4100	Financial Accounting III
Spring 2006	ACC	3100	Financial Accounting II
Fall 2005	ACC	2101	Principles of Accounting
Fall 2004	ACC	3100	Financial Accounting II
Spring 2004	ACC	3100	Financial Accounting II
Fall 2003	ACC	2101	Principles of Accounting
Summer 2003	ACC	9100	Fin & Mgt Accounting
Spring 2003	ACC	9100	Fin & Mgt Accounting
Spring 2003	ACC	3100	Financial Accounting II
Fall 2002	ACC	3100	Financial Accounting II
Fall 2002	ACC	6002	Honors Accounting III
Fall 2002	BUS	9801	Graduate Internship Module I
Fall 2002	BUS	9803	Graduate Internship Module III
Fall 2002	BUS	9802	Graduate Internship Module II
Fall 2002	BUS	9800	Graduate Internship
Summer 2002	ACC	9100	Fin & Mgt Accounting
Summer 2002	BUS	9802	Graduate Internship Module II
Summer 2002	BUS	9801	Graduate Internship Module I
Summer 2002	BUS	9801	Graduate Internship Module I
Summer 2002	BUS	9800	Graduate Internship
Summer 2002	ACC	9851	Accounting Practicum I
Summer 2002	BUS	9802	Graduate Internship Module II
Summer 2002	BUS	9803	Graduate Internship Module III
Summer 2002	BUS	9803	Graduate Internship Module III
Summer 2002	ACC	9850	Accounting Practicum
Spring 2002	BUS	9802	Graduate Internship Module II
Spring 2002	ACC	9100	Fin & Mgt Accounting
Spring 2002	BUS	9801	Graduate Internship Module I
Spring 2002	BUS	9800	Graduate Internship
Spring 2002	BUS	9803	Graduate Internship Module III
Spring 2002	ACC	6001	Honors/Accounting II
Fall 2001	BUS	9800	Graduate Internship
Fall 2001	BUS	9803	Graduate Internship Module III
Fall 2001	ACC	5000	Independent Study Accounting I
Fall 2001	BUS	9801	Graduate Internship Module I
Fall 2001	BUS	9802	Graduate Internship Module II
Summer 2001	ACC	9100	Fin & Mgt Accounting

Books

Lilien, S. B., & Rothberg, B. (2004). Analysis and Implications of the New Proxy Voting Rules. Financial Executives Research Foundation.

Lilien, S. B. (1999). Accountants' Handbook. New York, John Wiles & Sons.

Lilien, S. B. (1996). Accountants' Handbook . New York, John Wiley & Sons.

Lilien, S. B., Mellman, M., & Kerstein, J. (1994). Accounting for Effective Decision Making: A Manager's Guide to Corporate, Financial and Cost Reporting. Illinois, Business One Irwin.

Lilien, S. B., Carmichael, D., & Mellman, M. (1991). Accounting and Auditing Update Handbook. New York, American Institute of Certifies Public Accountants.

Lilien, S. B., & Carmichael, D. (1990). Accounting and Auditing Update Handbook. New York, American Institute of Certified Public Accountants.

Lilien, S. B., Carmichael, D., & Mellman, M. (1989). Accounting and Auditing Update Handbook. New York, American Institute of Certified Public Accountants.

Lilien, S. B., Mellman, M., & Docherty, J. (1987). Discovery Techniques Obtaining and Analyzing Business Data. Massachusetts, Warren, Gorham and Lamont.

Journal Articles

Lilien, S., Sarath, B., & Yan, O. (2019). Fair Value Accounting, Earnings Management and The Case of Bargain Purchase Gains. Asian Review of Accounting,

(2013). Normal Turbulence or Perfect Storm? Disparity in Fair Value Estimates. Journal Accounting, Auditing and Finance, 192-211.

(2013). How Fair Values and Accounting Structures Allow Triple-Counting of Income: Implications for Standard Setters, Market Participants and Academics. Journal Accounting, Auditing &Finance, 1-20.

(2010). The Financial Statement Effects of Capitalizing Operating Leases. LXXX 8. 36-41.

(2010). Countering Opportunism in Structuring and Valuing Transactions. Journal of Accounting, Auditing and Finance, 289-321.

(2008). The Case of Interest Rate Swaps and Questions for the Pozen Committee: Why Ironclad Rules?. CPA Journal, 78(6).

(2007). Effects of New Pension Accounting on the Dow 30's Financial Statements: Potential Implications for Policy Makers and Equity Research Analysts. The CPA Journal,

(2007). Sunbeam and the 'Iron Curtain': Why a Dual Test for Materiality Was Necessary. The CPA Journal, August 2007.

(2007). Sunbeam and the Iron Curtain: Why a Dual test for Materiality was Necessary. The CPA Journal,

(2006). Mutual Funds and Proxy Voting: New Evidence on Corporate Governance. Journal of Business and Technology Law,

(2005). Undoing the Past: Implications of Earning Restatements. Financial Executive,

(2005). CEO Compensation after Deregulation: The Case of Electric Utilities. Journal of Business,

(2004). The Managed Disclosure System A Case Study. The CPA Journal,

(2003). Making Pro formas Perform. Harvard Business Review,

(2003). Earnings Anomalies and Going Concerns. Taiwan Reviews, 4(1). 1-27.

(2001). Assessment of Analyst Target Prices. The CPA Journal,

(2000). CEO Stock Based Compensation: An Empirical Analysis of Incentive-Intensity, Relative Mix and Economic Determinants. Journal of Business,

(1998). Market Valuation Of Interest-Cost Savings From Debt Refinancing. Journal of Financial Statement Analysis, 10.

(1996). Stock-based Compensation Effect on Net Income. The CPA Journal,

(1995). Mandated Accounting Changes and Managerial Discretion. Journal of Accounting and Economics, 3-29.

(1994). Time For Realism in Accounting For Employees Pension Plans. The CPA Journal,

(1991). The Impact of SFAS 88 Transactions. The CPA Journal,

(1991). Overfunded Defined Benefit Pension Plan Settlements Without Asset Reversions. Journal of Accounting and Economics, 295-320.

(1990). A Simplified Approach for Converting Cash Flows from Operating from Indirect to Direct Method. The CPA Journal,

(1990). Market Manifestations of Non-Public Information Prior to Mergers: The Effect of Ownership Structure. The Accounting Review, 432-451.

(1989). The Use of Off-Balance Sheet Financing to Circumvent Financial Convenant Restrictions?. Journal of Accounting, Auditing, and Finance, 217-231.

(1988). Accounting Changes: Successful Versus Unsuccessful Firms. The Accounting Review, LXIII(4). 642-656.

(1987). The Association between Market Based Merger Premuims and Firms Financial Position Prior to Merger. Journal of Accounting, Auditing, and Finance, 24-72.

(1986). Accounting for Leases by Lessees. Journal of Accounting and Economics, 217-237.

(1985). Stock Market Behavior Around Distress and Recovery Predictions from Bankruptcy Models . Financial Analysts Journal,

(1982). Determinants of Intramethod Choice in the Oil and Gas Industry. Journal of Accounting and Economics, 145-170.

(1981). Intra-method Comparability - The Case of Oil and Gas Industry. Accounting Review, LVI. 660-703.

(1981). Due Process and FAS No. 13. Management Accounting, LXII. 49-53.

(1978). A Peer Review of Financial Accounting Deficiencies. The CPA Journal, XLVII7(7). 28-34.

Lilien, S. Investor Perceptions of REal and Unreal Bargain Gains:An Examination of Acquisitions in the Financial Services Industry the 2008 Crisis. In Progress.

Book Chapters

Lilien, S. B., Bryan, S., Sarath, B., & Yan, O. (2019). Evolving Standards of Fair Accounting and Acquisition Accounting. Economic Information to Facilitate Decision Making FORTHCOMING 2019.

Lilien, S. B., Bryan, S., & SarathJohn WileySons, B. (2010). Curbing Optimism in Managerial Estimates Through Transparent Accounting:The Case of Securitizations. In Kolb, R. (Ed.), Lessons From The Financial Crisis Hoboken New Jersey,United States. John Wiley&Sons.

Presentations

Lilien, S. B., Sarath, B., & Yan, O. (2019, June 30). Intended or Unintended Consequences of Business Regulations? The Case of Acquisitions in the Financial Services Industry. European Accounting Conference. Cyprus: European Accounting Association.

Lilien, S. B., Bryan, S., & Hwang, L. (1999, December 31). "CEO Stock-Based Compensation: An Empirical Analysis of Incentive Intensity, Relative Mix, and Economic Determinants. Proceedings of the American Accounting Associations Annual Meeting. San Diego

Lilien, S. B., Bryan, S., & Hwang, L. (1998, December 31). "The Use of CEO Stock Option and Pay-Performance Sensitivity: An Empirical Analysis and Syntheisis of The Economic Determinants". Proceedings of the American Accounting Associations Annual Meeting. New Orleans

Lilien, S. B. (1993, December 15). Lifes Miracles. American Poetry Review. New York: Poets House.

Lilien, S. B., Wu, D., & Haw, I. (1988, August 31). "An Examination of the Market Reaction to the Adoption of SFAS No. 52: A New-Information-De-Facto Approach". Proceedings of the American Accounting Associations Annual Meeting.

Lilien, S. B., Kim, T. Y., Haw, I., & Pastena, V. (1987, August 31). "Early Debt Redemptions: Managerial Motivation". Proceedings of the American Accounting Associations Annual Meeting.

Lilien, S. B., Haw, I., & Pastena, V. (1986, July 31). "The Impact of SFAS No. 52" [pp. 31-32]. Collected Abstracts of the American Accounting Association's Annual Meeting.

Lilien, S. B., Haw, I., Him, K., & Pastena, V. (1986, July 31). "Market Reactions to Tender Offers for Owner Controlled Versus Manager Controlled Firms" [pp. 35-36]. Collected Abstracts of the American Association's Annual Meeting.

Lilien, S. B., Gazzar, S. E., & Pastena, V. (1985, July 31). "The Influence of External Reporting Choices on Private Financial Contracts" [pp/ 92-93]. Collected Abstracts of the American Accounting Association's Annual Meeting.

Lilien, S. B., Gazzar, S. E., & Pastena, V. (1984, August 31). "Accounting for Leases by Lessees". Proceedings of the American Accounting Association's Annual Meeting.

Lilien, S. B., & Pastena, V. (1982, September 30). "Accounting Policy Choices of Oil and Gas Firms". Proceedings of the American Accounting Association's Annual Meeting.

Honor / Award	Organization Sponsor	Date Received	Description
New York University Founders Day Award		1969
President - Mu Chapter, Beta Aplha Psi
Beta Gamma Sigma
Haskins & Sells Foundation Faculty Assistance

College

Committee Name	Position Role	End Date
1998 Chair Northeast Region-Administrators of Accounting Programs		Present
Executive Committee School of Business	Committee Member	Present
Coordinator Saxe Lecture		Present
Departmental Executive Committee	Committee Member	Present
Advisory Committee in Accountancy, New York City College of Technology	Member	Present
Established Training Program for The CPA Review		Present
Representative to P&B Library	Committee Member	Present
chair of Ettinger Search Committtee		Present
The Board consists of alumni and other business and government representatives		Present
Raised Funds From Major CPA Firms		Present
Program Review SUNY Westbury, State of New York Department of Education	Team Member	Present
Established Baruch College CUNY Professional Seminars in Accounting and Taxes for Major CPA Firms		Present
Established and Coordinated Advisory Board Activities-Department of Accountancy, Baruch College		Present
Coordinated AACSB Accouting Re-accreditation-Baruch College CUNY		Present
Director of Center for Financial Integrity		7/1/2003
School Promotion and Budget Committee-Baruch College		12/31/2002
Baruch College, Stan Ross Department of Accountancy	Committee Chair	12/31/2002
New York State Society Education Commitee Studying 150 Hour Program		12/31/1999
AACSB Accreditation Team-George Washington University	Student Placement	12/31/1998
AACSB Accreditation Team-Bowling Green University	Vice-Chair	12/31/1996
AACSB Accreditation Team-Texas Christian University	Team Member	12/31/1995
School Promotion and Budget Committee - Baruch College CUNY	Committee Chair	12/31/1992
College Academic Review Committee-Baruch College CUNY		12/31/1987
Bernard Baruch College, Department of Accountancy	Deputy Chair	12/31/1986

Public

Organization	Position Role	Start Date	End Date
Ad-hoc Reviewer of Contemporary Accounting Research			Present
Institute of Management Accountants	Member		Present
Ad-hoc Reviewer of The Accounting Review			Present
American Accounting Association	Member		Present
American Institute of Certified Public Accountants	Member		Present
Editorial Board of CPA Journal			Present
Financial Executive Institute	Member		Present
Institute of Internal Auditors-Board of Governors NY Chapter	Member		Present
Nwe York State Society of Certified Public Accountants	Member		Present
Ad-hoc Reviewer of Financial Analysts Journal			Present
Academic Relations Committee of the New York Chapter of the Financial Executive International	Chairperson	1/1/2001	Present
Board of Advisors of Grace & Co. Consultancy Inc.		1/1/2000	Present
Board of Directors and Leadership Group of New York Chapter of The Financial Executives International		1/1/1999	Present
Public Initiatives Committee of The Bew York Chapter Financial Executives International		1/1/1999	Present
The Audit Committee, Ortec International Inc	Director and Chair	1/1/1998	Present
Board of Directors of The New York Chapter of The Institute of Internal Auditors		1/1/1997	Present
Ad-hoc Reviewer of Journal of Accounting & Economics			Present
Editorial Board CPA Journal		1/1/2004	12/31/2006
Working on CUNY Team Developing Director Education for Public Authorities			12/31/2005
AcSEC (the senior ruling making of American Institute of CPAs)	Member		12/31/2003
Public Company Task Force_Special Committee on Enhanced Business Reporting American Institute of Certified Public Accountants	Member		10/31/2003
Academic Relations Committee of The New York Chapter of Financial Executives International		1/1/1998	12/31/2000
Expert witness and advisor in a number of matters involving accounting issues		1/1/1992	12/31/2000
Testified Before State Assembly Hearings on Accountancy Law reform			12/31/1999
Consultant to Board of Education on Costing of Services to Charter Schools			12/31/1999
Consultant to Audit Committee-Imtech Corporation		1/1/1997	12/31/1998
D'Arcangelo & Co., Certified Public Accountants, consultant to this firm in the design of professional training and quality review materials		1/1/1984	12/31/1997
Co-author with Doug Carmichael and Martin Mellman of the annual Accounting and Auditing Update Continuing Professional Education course prepared for the American Institute of Certified Public Accountants		1/1/1986	12/31/1991
Accounting Consultant in matter Ricoh Electronics versus Hilford Chemical			12/31/1988
Expert Witmess for the New York Stock Exchange			12/31/1988
Expert Witness in the matter of S. Rubin versus P. Kaplan			12/31/1987
Accounting consultant to the litigation staff of the Bureau of Competition, Federal Trade Commission		6/1/1979	12/31/1982
National Membership Committee, American Accounting Association	Member	1/1/1977	12/31/1979
Touche Ross & Co. - Consultant on Due Process Repsonse to Financial Accouting Standards Bpard Statement No. 33		4/1/1979	6/30/1979