Craig Lefanowicz headshot

Craig Edward Lefanowicz

Associate Professor
Area Coordinator
Unit: McIntire School of Commerce
Department: McIntire School of Commerce
Office location and address
Rouss & Robertson Halls, Room 376
40 South Lawn
Charlottesville, Virginia 22904
Ph.D., Accounting, The University of Texas at Austin

Professor Lefanowicz has expertise in financial reporting and taxation of corporate control transactions. His current research focuses on the impact that accounting and taxation have on the structure and pricing of mergers and acquisitions. Professor Lefanowicz has taught a variety of financial accounting and reporting courses at both the undergraduate and graduate levels. His teaching expertise has been recognized by the receipt of numerous teaching awards.

Professor Lefanowicz has presented his work at national and regional conferences sponsored by the American Accounting Association and at many university and conference research workshops. His work is published in, among other places, The Accounting ReviewThe Journal of FinanceReview of Accounting StudiesJournal of Corporate FinanceJournal of the American Taxation Association; and Accounting Horizons. He has taught for an international professional services firm and before joining the McIntire School of Commerce was a faculty member at the University of Oregon, Michigan State University, and Indiana University. Before earning his Ph.D., Professor Lefanowicz worked in a public accounting firm in both the auditing and tax areas.

GCOM 7320: Accounting Policy
Credits: 3
This course covers the theory and practice of corporate financial reporting. It highlights the development of generally accepted accounting principles (GAAP) and accounting policy choices at the macro (standard setter) level and the micro or company level. Cases are used to evaluate accounting conventions, particularly with regard to how those decisions reflect economic reality and the quality of earnings. Restricted to MS in Accounting Students.
GCOM 7341: Banking and Accounting for Derivatives
Credits: 3
This course develops a framework for understanding the uses and financial reporting of derivatives as used in the banking system. The course will focus on a discussion of contract specifications, business uses and valuation of the three main classes of derivatives: futures & forwards, swaps and options. It will then focus on how to account for these types of derivatives. Restricted to MS in Accounting Students.
GCOM 7829: IT Project Budgeting and Cost Management
Credits: 1
This course is designed to enhance student knowledge of project budgeting and cost management. Students will be able to interpret and evaluate balance sheets, income statements, and revenue recognition in services contracts and use the knowledge you gain about budgeting and the budgeting process to communicate with financial decision makers.