Ernst & Young LLP took another significant step in supporting faculty through the Academic Resource Center (EYARC) with the release of the second phase of International Financial Reporting Standards (IFRS) curriculum and teaching materials, as well as a national training session for professors, the company announced earlier this week.

EYARC is a collaboration of faculty and professionals dedicated to helping the next generation of accounting professionals meet the fast-changing needs of the global financial markets.

Jennifer Blouin, Assistant Professor, University of Pennsylvania Wharton School of Business said, “Making an effort to maximize pedagogical flexibility, EYARC offered faculty extensive training and materials useful for developing IFRS curriculum at both the undergraduate and graduate levels. The class notes, cases, and high level spotlights on convergence issues created by EYARC’s team of academics and practice professionals will be invaluable as I incorporate IFRS into my syllabus.”

Meanwhile, James Wahlen, Professor of Accounting and Chairman of the MBA Program at the Kelley School of Business at Indiana University said, “The EYARC IFRS faculty training was an outstanding experience. Several accounting faculty and retired partners assembled a comprehensive and detailed set of materials that will help me and accounting faculty members all over the country incorporate an understanding of IFRS into our courses. This training is a great example of how practice and academia can partner for the benefit of our students, our teaching and research, and our profession.”

Read more about this endeavor here.

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The University of Western Ontario is poised to break ground this summer on a $100 million building to house the Richard Ivey School of Business; the project is the largest in the university’s history, according to media reports.

Construction of the 235,000-square-foot glass and cut-stone structure (pictured), designed by Hariri Pontarini Architects of Toronto, will begin in August on a site where soccer fields are currently located. It is to be completed by March 2011. The so-far unnamed new building has been designed using the latest green technology, and will be the second LEED-certified building on campus.

“Ivey has grown tremendously in recent years, and more growth is predicted in the coming years,” Ivey Dean Carol Stephenson is quoted as saying, adding that “A world-class business school needs a world-class facility.”

(image credit: Hariri Pontarini Architects)

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We are now on Facebook – please join the Stacy Blackman Consulting group, or become a friend of Stacy Blackman. I am posting news about MBA related events, job listings, and of course MBA news.

I am on Twitter too…click to follow me on Twitter! www.twitter.com/stacyblackman

For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.

We just posted some very useful information on the TOEFL on the AIGAC blog.  Any applicant who is a non-native English speaker, should check it out.

This is an excerpt from a longer article by Jeff Sackmann, originally published at www.gmathacks.com. Jeff has created several valuable GMAT-preparation resources, including Total GMAT Math and Total GMAT Verbal.

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In preparing for the unique challenges of the Computer Adaptive Test, the biggest adjustment you’ll have to make is mental. It is likely that you will not answer every question correctly. You’ll probably see several that are too difficult for you. You’ll also see a few that look doable, but would take too much time to work through.

Realize, first, that in order to get a good score (even a great one, well above the 90th percentile), you don’t need to get every question right. If you’re forced to decide between having a chance at getting a question right and conserving time in order to ensure that you finish the test, finishing the test is far and away the better choice.

Second, learn to recognize questions that are beyond your skill level. When practicing, by all means try to learn how to do those questions. But if you hit a point where you know you’ll never get tricky probability questions in less than 3:30, be ready to cut your losses on test day. Because the stakes of the GMAT are so high, we all want to nail every question and give our best effort. But if our best effort takes five minutes, the trade-off just isn’t worth it. Keep that in mind when you work through difficult problem sets.

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Stacy Blackman readers can get an exclusive 10% discount off of all GMAT Hacks products by using the coupon code “sbc10″ at checkout. Thanks, Jeff!