Skip to Content

Dr. Terry K. Patton CPA, CGMA, CGFM

Message Call
Phone
Fax
N/A
Email
Title
Robert Madera Distinguished Professor of Accounting
Department
Accounting
Location
Dillard College of Business Administration
Room
293
College
College of Business Administration, Dillard
Bio

Terry K. Patton, PhD, CPA, CGFM, CGMA, is the Robert Madera Distinguished Professor of Accounting and former dean and chair of the Accounting, MIS, and Legal Studies department for the Dillard College of Business Administration at MSU Texas. He teaches financial accounting, governmental and nonprofit accounting, and auditing. He received a bachelor's degree in business (accounting major) from Midwestern State University, a master's degree from the University of North Texas, and a PhD from Texas Tech University.

Dr. Patton serves as a board member on the Federal Accounting Standards Advisory Board (FASAB), which establishes the financial reporting standards for the United States government. Dr. Patton began his accounting career in public accounting, where he audited local governments. Later, he served as a project manager and as the research manager for the GASB. He is a coauthor of the accounting textbook, Accounting for Governmental and Nonprofit Organizations, which is published by Cambridge Business Publishers. He coauthored a governmental accounting book for practitioners, Guide to Governmental Financial Reporting Model: Implementing GASBS No. 34, and another governmental accounting textbook published by Pearson Prentice Hall. He has published articles in the Accounting Review, Accounting Horizons, the Journal of Accounting and Public Policy, and the Journal of Public Budgeting, Accounting, and Financial Management, among others.

Dr. Patton has served as a board member and chair of nonprofit boards of directors, including the BBB Serving North Central Texas, United Regional Healthcare System, and the Wichita Falls Alliance for Arts and Culture.

Institution Degree Graduation Date
Texas Tech University Ph.D., Accounting 1999
University of North Texas M.S., Accounting-Taxation 1991
Midwestern State University B.B.A, Accounting 1984
Employer Position Start Date End Date
Federal Accounting Standards Advisory Board Board Member 07/21/2019
Midwestern State University Professor 09/01/2018
Midwestern State University Chair of Accounting, MIS, and Legal Studies Department 09/01/2017 05/31/2021
Midwestern State University Dean, Dillard College of Business Administration 07/01/2012 08/31/2017
Midwestern State University Associate Professor 09/01/2010 08/31/2018
Midwestern State University Assistant Professor 09/01/2007 08/31/2010
Rutgers University Adjunct Professor 08/01/2006 12/01/2006
Governmental Accounting Standards Board Research Manager 07/01/2001 07/01/2007
University of Wisconsin Oshkosh Assistant Professor 08/01/1999 05/01/2001
Midwestern State University Adjunct Professor 08/01/1998 12/01/1998
Governmental Accounting Standards Board Project Manager 10/01/1997 06/01/1999
Texas Tech University Teaching and Research Assistant 08/01/1992 05/01/1996
Terry K. Patton, CPA Sole Proprietor 08/01/1989 07/01/1992
Mathis, West, Huffines & Co., P.C. Audit Supervisor 01/01/1984 06/01/1989

Publications

Refereed Articles 

Forrester, R. C., Martinez, J. E., Patton, T. K., & Stambaugh, J. E. (2020). Does more experience and more risk-taking go hand-in-hand for angel investors? Journal of Ethics and Entrepreneurship.

Marshall, D. M., Feng, N. C., Fischer, M., Flasher, R., & Patton, T. K. (2018). Response to GASB Invitation to Comment on Revenue and Expense Recognition. Journal of Governmental & Nonprofit Accounting, 7 (1), 97-103.

Plummer, E., & Patton, T. K. (2015). Using Financial Statements to Provide Evidence on the Fiscal Sustainability of the States. Journal of Public Budgeting, Accounting & Financial Management, 27 (2), 225-264.

Hunt, A. K., Kinnersley, R., & Patton, T. K. (2015). Influence GASB Standards: Write an Effective Comment Letter. Journal of Government Financial Management, 18-24.

Patton, T. K., & Hutchison, P. D. (2014). Development of a Governmental Accounting Standard in the United States:GASB Statement No. 34. Southern Business and Economic Journal, 36 (1), 1-25. 

Patton, T. K. & Hutchison, P. (2013). HIstorical Development of Financial Reporting Model For State and Local Governments in the United States from Late 1800s to 1999.   Accounting Historians Journal, 35 (2), 21-54. 

Vermeer, T. E., Styles, A. K., & Patton, T. K. (2012). Do Local Governments Present Required Disclosures for Defined Benefit Pension Plans?   Journal of Accounting and Public Policy, 31, 44-68. 

Vermeer, T. E., Patton, T. K., & Styles, A. K. (2011). Reporting of General Infrastructure Assets Under GASB Statement No. 34.   Accounting Horizons, 25 (2), 27. 

Vermeer, T. E., Styles, A. K., & Patton, T. K. (2010). Are Local Governments Adopting Optimistic Actuarial Methods and Assumptions for Defined Benefit Plans?   Journal of Public Budgeting, Accounting & Financial Mgt, 23 (4), 511-542. 

Patton, T. K. & Freeman, R. J. (2009). The GASB Turns 25: A Retrospective.   Government Finance Review, 25 (2), 20-26. 

McSwain, D. N., Patton, T. K., & Benco, D. C. (2008). Intangibles: Governments' Forgotten Capital Assets.   CPA Journal, 78 (4), 4.

 Patton, T. K. & Bauer, K. (2008). The GASB OPEB Standards: To Comply or Not to Comply.   Today's CPA, 35 (4), 28-31. 

Plummer, E., Hutchison, P. D., & Patton, T. K. (2007). GASB 34's Governmental Financial Reporting Model: Evidence on Its Information Relevance.   Accounting Review, 82 (1), 205-240. 

Kinnersley, R. & Patton, T. K. (2005). GASB Statements 34 and 41: A Deeper Understanding of Budgetary Reporting.   CPA Journal, 75 (3), 20-25.

 Patton, T. K. & Freeman, R. J. (2005). Governmental Accounting Standards Come of Age: Highlights from the First 20 Years.   Government Finance Review, 21 (2), 16-20.

 Fountain, J. R., Patton, T. K., & Steinberg, H. I. (2004). Improving Performance Reporting for Government: New Guidance and Resources.   Journal of Government Financial Management, 53 (1), 60-64.

 Patton, T. K., Kinnersley, R. L., & Patton, S. R. (2001). A Primer for Writing an Effective Management's Discussion and Analysis.   Journal of Government Financial Management, 50 (4), 52-60.

 Patton, T. K. & Bean, D. R. (2001). The Why and How of the New Capital Asset Reporting Requirements.   Public Budgeting & Finance, 21 (3), 31-46. 

Clancy, D. K. & Patton, T. K. (1996). Service Efforts and Accomplishments Reporting: A Study of Texas Public Schools.   Public Budgeting and Financial Management, 8 (272-302).

 

Manuals 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Smith, Jr., G. R., & Patton, T. K. (2009). Governmental Accounting, Reporting & Auditing Update. Lubbock, TX: Center for Professional Development at Texas Tech University. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Smith, Jr., G. R., & Patton, T. K. (2009). Governmental Accounting and Financial Reporting. Lubbock, TX: Center for Professional Development at Texas Tech University. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Smith, G. R., & Patton, T. K. (2008). Governmental Accounting and Financial Reporting. Lubbock, TX: Center for Professional Development at Texas Tech University. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Smith, G. R., & Patton, T. K. (2008). Governmental Accounting, Reporting & Auditing Update. Lubbock, TX: Center for Professional Development at Texas Tech University. 

Patton, S. R., Patton, T. K., Ursery, P. N., Holland, S. E., & Burgess, C. A. (2000). Guide to Governmental Financial Reporting Model. Fort Worth, Texas: Practitioners Publishing Company. 

Patton, T. K. (1991). Preparing Schedule K and Interpreting Schedule K-1. Denton, Texas: Professional Development Institute. 

Patton, T. K. (1991). At-Risk Rules. Denton, Texas: Professional Development Institute. 


Books

Patton, T. K., Patton, S. R., & Waymire, T. R. (2021). Accounting for Governmental and Nonprofit Organizations, 2e. Westmont, IL: Cambridge Business Publishers.

Patton, T. K., Patton, S. R., & Ives, M. (2018). Accounting for Governmental and Nonprofit Accounting, 1st Edition. Westmont, Illinois: Cambridge Business Publishers.

Ives, M., Patton, T. K., & Patton, S. R. (2012). Introduction to Governmental and Not-For-Profit Accounting (7th Edition). Upper Saddle River, New Jersey: Pearson Education, Inc.. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, G. R. (2010). Governmental and Nonprofit Accounting: Theory and Practice (9th Edition revised) Pearson Prentice Hall. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, G. R. (2008). Governmental and Nonprofit Accounting: Theory and Practice, Ninth Edition. Upper Saddle River, New Jersey: Pearson Prentice Hall.

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, G. R. (2008). Governmental and Nonprofit Accounting: Theory and Practice, International Edition. Upper Saddle River, New Jersey: Pearson Prentice Hall.

Epstein, P., Fountain, J., Campbell, W., Patton, T., & Keaton, K. (2005). Government Service Efforts and Accomplishments Performance Reports: A Guide to Understanding. Norwalk, CT: Governmental Accounting Standards Board. 

Fountain, J., Campbell, W., Patton, T., Epstein, P., & Cohn, M. (2003). Reporting Performance Information: Suggested Criteria for Effective Communication. Norwalk, CT: Governmental Accounting Standards Board. 


Cases 

Patton, T. K. & Khan, A. (2003). Financial Analysis of the City of Mesquite Falls, Texas, Using Comprehensive Annual Financial Reports. In Aman Khan and W. Bartley Hildreth (Eds.), Case Studies in Public Budgeting and Financial Management, 2nd edition (pp. 27). Marcel Dekker, Inc.. 

Patton, T. K. & Freeman, R. J. (2003). Changes for Governmental Financial Reporting. In Aman Khan and W. Bartley Hildreth (Eds.), Case Studies in Public Budgeting and Financial Management, 2nd edition (pp. 14). Marcel Dekker, Inc.. 


Book Supplements

Patton, T. K., Waymire, T. R., & Patton, S. R. (2021). PowerPoint Slides. Accounting for Governmental and Nonprofit Organizations, 2e. Westmont, IL: Cambridge Business Publishers. 

Patton, T. K., & Waymire, T. (2021). eLectures. In Press, Accounting for Governmental and Nonprofit Organizations, 2e.  

Patton, T. K., & Waymire, T. R. (2021). Test Bank. Accounting for Governmental and Nonprofit Organizations, 2e.

Patton, T. K., Patton, S. R., & Waymire, T. R. (2021). Solutions Manual. In Press, Accounting for Governmental and Nonprofit Organizations, 2e.

Patton, T. K., Patton, S. R., & Ives, M. (2018). Solutions Manual. Accounting for Governmental and Nonprofit Accounting, 1st Edition. Westmont, Illinois: Cambridge Business Publishers.

Patton, T. K., & Patton, S. R. (2018). PowerPoint Slides. Accounting for Governmental and Nonprofit Accounting, 1st Edition. Westmont, Illinois: Cambridge Business Publishers.

Patton, T. K., Patton, S. R., & Ives, M. (2018). Test Bank. Accounting for Governmental and Nonprofit Accounting, 1st Edition. Westmont, Illinois: Cambridge Business Publishers.

Patton, T. K., & Patton, S. R. (2018). e-Lectures. Accounting for Governmental and Nonprofit Accounting, 1st Edition. Cambridge Business Publishers. 

Ives, M., Patton, T. K., & Patton, S. R. (2012). The Solutions Manual. Introduction to Governmental and Not-For-Profit Accounting (7th Edition). Pearson Education, Inc.

Patton, T. K. & Patton, S. R. (2012). PowerPoint Slides. Introduction to Governmental and Not-For-Profit Accounting (7th Edition). Pearson Education, Inc.

Patton, T. K. & Patton, S. R. (2012). Test Item File. Introduction to Governmental and Not-For-Profit Accounting (7th Edition). Pearson Education, Inc.

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, Jr., G. R. (2010). The Solutions Manual. Governmental and Nonprofit Accounting, Ninth Edition Revised. Upper Saddle River, New Jersey: Prentice Hall. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, Jr., G. R. (2010). Test Item File. Governmental and Nonprofit Accounting: Ninth Edition Revised. Upper Saddle River, New Jersey: Prentice Hall. 

Freeman, R. J., Shoulders, C. D., Allison, G. D., Patton, T. K., & Smith, G. R. (2008). Test Item File. In Kierra Kashickey (Ed.), Governmental and Nonprofit Accounting: Ninth Edition. Upper Saddle River, NJ: Pearson Prentice Hall. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, G. R. (2008). Solutions Manual. In Kierra Kashickey (Ed.), Governmental and Nonprofit Accounting: Ninth Edition. Upper Saddle River, NJ: Pearson Prentice Hall. 

Freeman, R. J., Shoulders, C. D., Allison, G. S., Patton, T. K., & Smith, G. R. (2008). The Instructor's Manual. In Kierra Kashickey (Ed.), Governmental and Nonprofit Accounting: Ninth Edition. Upper Saddle River, NJ: Pearson Prentice Hall.