ACG 3131 – 10021
INTERMEDIATE THEORY 1
FALL 2007
Thursdays, 7:10 PM - 10:00 PM
Instructor: Sherry L. Young, MBA, CPA
(954) 236-1188 (Davie)
Email: (THIS IS THE BEST WAY TO CONTACT ME)
Office Location, days, and hours
Location Days Time
LA Building 475 Tuesdays & Thursdays 8:15 a.m. – 9:15 a.m.
LA Building 475 Tuesdays & Thursdays 12:30 p.m. – 1:30 p.m.
LA Building 475 Tuesdays & Thursdays 6:00 p.m. – 7:00p.m.
LA Building 475 By Appointment
Blackboard Site:
USE OF BLACKBOARD SITE: Some materials for this course will be available on the FAU Blackboard website (). You are expected to access the Blackboard website regularly to check for syllabus updates, announcements, assignments, and other course materials.
TEXTS:
· Donald E. Kieso, Jerry J. Weygandt, & Terry D. Warfield. Intermediate Accounting. 12th ed. John Wiley & Sons, Inc., 2007.
o ALEKS – “Accounting Cycle – Corporation” program. Note: This program must be completed and submitted for my review by September 27th, 2007 at the beginning of class in order to pass this class. Failure to complete and submit this program by will result in a grade of “F” for this course.
· May & May. Effective Writing: A Handbook for Accountants. 6th or 7th ed. Prentice Hall. This is a required text for accounting majors at FAU. You will need it for writing assignments in many classes.
PREREQUISITES:
Junior standing and 6 hours of accounting principles are prerequisite for this course. Students lacking proper prerequisites may be administratively withdrawn from this or any other accounting course at any time during the term without receiving a tuition refund and without being notified in advance.
COURSE DESCRIPTION & OBJECTIVES:
This course presents a user-oriented overview of financial reporting and practice with a focus on how management decisions impact financial statements. You will study financing, investing, and operating decisions made by corporate managers, and you should leave the course with a relatively sophisticated understanding of how these business decisions interact with financial reporting rules and guidelines. This is not a bookkeeping course or a journal entry course. You will focus on the end products of the financial reporting process: income statements, balance sheets, statements of stockholders’ equity, and cash flow statements. The course will help you develop many of the competencies which the American Institute of Certified Public Accountants (AICPA) expects accounting graduates to have. You should visit the AICPA website (specifically http://www.aicpa.org/edu/bbfin.htm) for more information about these competencies.
CLASS POLICIES:
1. You are expected to come to class having (a) READ the text material assigned for that day and (b) ATTEMPTED ALL assignments.
2. Unless instructed otherwise, ALL work to be submitted for consideration toward your course grade is to be attempted and completed on an INDIVIDUAL BASIS.
3. You are responsible for School of Accounting policies at www.soa.fau.edu/uniform_course_policies1.htm
These policies are considered to be an integral part of this syllabus.
ACADEMIC IRREGULARITIES, HONESTY AND CLASSROOM CONDUCT:
All students are referred to the Chapter 6C5-4.001 of the Student Handbook entitled “Honor Code, Academic Irregularities, and Student’s Grievances.” It is the policy of the School of Accounting at Florida Atlantic University to adhere to the provisions of this section. Faculty of the School of Accounting will take action to secure the maximum penalty in the event of any observation of a violation.
A fundamental principle of academic, business and community life is honesty. In the academic environment, the following are critical:
Appropriate classroom behavior is expected at all times, including respect for the instructor and peers. Disruptive classroom behavior is unfair to other students who are in class to learn, as well as to the instructor, and will not be tolerated.
The Internet is a powerful tool providing access to a wealth of information. Students are reminded that plagiarism guidelines that apply to printed materials also apply to materials accessed via the Internet. Plagiarism is a very serious violation.
Please note: The Turnitin software may be used at the instructor’s discretion for evaluating assignments for plagiarism.
GRADING:
Exams: There will be four exams including a COMPREHENSIVE FINAL EXAM.
Makeup Policy: Make-up exams will be given only at my discretion and only in cases of extreme hardship (e.g., hospitalization of student, death of immediate family member, unavoidable out-of-town business). If at all possible, you should speak with me prior to the exam in order to receive permission to take a make-up exam. Failure to seek prior approval will greatly reduce your chance of receiving make-up privileges. If you miss an exam and are not allowed to make up the exam, you will be given a zero for that exam.
Writing Assignment: There will be a writing assignment worth 40 points. In addition to content, the submission will be scored for grammar, spelling, coherence, clarity and conciseness. The submission must be typed using proper form and must be submitted at the start of class to avoid late penalty. Use the Effective Writing handbook for guidance on content and form. In order to receive credit, your solution must demonstrate diligent application and understanding of principles involved. Obviously hasty solutions will receive no credit.
Late Assignments: Writing assignments will be accepted after the due date; however, your grade will be reduced by 10% of the total possible points for EACH DAY that the assignment is late.
Homework Collection: Although not collected, this is THE MOST IMPORTANT aspect of the course. You must be dedicated to DOING the work--not merely watching or listening in class. Students must be prepared with the assignments for each day as shown below. Solutions to review questions, exercises and problems are available via Blackboard.
WARNING: Reviewing solutions before investing significant effort to solve homework on your own will give you a false sense of accomplishment/understanding! Exams, and ultimately your professional career in accounting, require a TRUE understanding of the issues. In addition, exams typically incorporate an element of time pressure. You must know the material to finish the exam in the time allowed. As in any profession, practice (i.e., homework) is crucial to success. Plan to spend at least 2 – 3 hours preparing for each hour of class time.
Grading will be on a percentage basis. Points will be allocated as follows:
Exams 100 points eachNote: Final exam is comprehensive / 400 points
In-class Assignments (5 – 10 points each) / 20 points
Writing Assignment / 40 points
Total Points Possible / 460 points
Mandated Assessment Criteria: The State of Florida has mandated assessment procedures for all major programs. For the accounting major, Financial Reporting (ACG 3131), Managerial Decision Making and Accounting (ACG 3341), and Federal Taxation I (TAX 4001) are used to meet these requirements.
Therefore, students in these classes will be required to meet the following additional criteria in order to successfully complete the course. This means that if you don’t get a 72% on each of the following you will not pass the class irregardless of you final average in the course.
· An average of C (72%) on all tests. The tests are utilized in the course to meet the assessment criteria related to content and critical thinking skills.
· A grade of 72% on the writing assignment. This assignment is designed to meet the assessment criteria related to communication.
The grading scale, which may be modified to allow for a curve if warranted, is tentatively as follows:
A / 92% and above / C / 72 - 77%A- / 90 - 91% / C- / 70 – 71%
B+ / 88 - 89% / D+ / 68 - 69%
B / 82 - 87% / D / 62 - 67%
B- / 80 - 81% / D- / 60 - 61%
C+ / 78 - 79% / F / 59% and below
Students with Disabilities: “In compliance with the Americans with Disabilities Act (ADA), students who require special accommodations due to a disability to properly execute coursework must register with the office for Students with Disabilities (OSD) located in Boca Raton in SU133 (561-237-3880) or in Davie in MOD I (954-236-1222), and follow all OSD procedures.”
Incomplete: Note than an “Incomplete” is not a substitute for a poor grade and is rarely granted. In accordance with the policy of the School of Accounting and the College of Business, an “Incomplete” will be given only under the following circumstances:
1. You are otherwise passing the course (at least a C).
2. You have an excused absence that prevented the on-time completion of the course requirements.
Withdrawals: If you decide to drop from this course, you are responsible for completing the proper paper work required to withdraw from the course.
Important dates:
Last day to withdraw with full refund is August 31st.
Last day to drop a course without receiving an “F” is October 19th.
Tentative Schedule for Fall 2007:
BE = Brief Exercise, E = Exercise, P = Problem, CA = Concepts For Analysis, CAC = Comparative Analysis Case, RC = Research Case, CC = Communication Case, AC = Analysis Case, EC=Ethics Case, RWC = Real World Case, ITC = Integrating Case, IC = International Case
Aug. 30 / Read Chapters 1 & 2
Complete CA1-1, CA1-2, CA1-5, CA1-6, CA1-7, CA1-10, CA1-11, CA1-12, CA1-15, and CA1-16
Complete E2-1, E2-3, E2-4, E2-6, and E2-7
Complete CA2-2, CA2-3, CA 2-5, CA2-7 and CA2-12
Complete Financial Reporting Problem (The Procter & Gamble Company P&G)
Discuss ALEKS requirement
Sept. 6 / Read Chapter 3 including Appendix 3A & 3B
In class hand-out (Transaction Analysis)
Complete E3-1, E3-2, E3-4, E3-6, E3-7, E3-10, E3-12, E3-16
Complete E3-18 and E3-20
Complete P3-6 and P3-8
Complete Financial Reporting Problem P&G
Sept. 13 / Finish Chapters 1, 2, and 3
Review for Exam 1
Sept. 20 / Exam 1 - Chapters 1, 2, and 3
Read Chapter 4
Complete E4-2, E4-3, E4-5, E4-9, E4-11, and E4-15
Complete P4-1, P4-3, P4-6
Complete CA 4-3, CA 4-4, and CA 4-8
Complete Financial Reporting Problem P&G
Sept. 27 /
ALEKS “Accounting cycle – corporation” program due today at the beginning of class print copy of completed “mypie” and bring to class for submission.
Read Chapter 5Complete E5-2, E5-5, E5-6, E5-7, E5-9, E5-10, E5-12, E5-13
Complete E5-15 (requirement a only)
Complete P5-1, P5-2, P5-3, P5-5, and P5-6
Complete Financial Reporting Problem P&GReview for Exam 2
Oct. 4 / Exam 2 – Chapters 4 and 5
Oct. 11 / Writing Assignment due today
Read Chapters 6 and 14
In class hand-out
Complete E6-1, E6-3, E6-6, E6-7, E6-8, E6-12, E6-13, and E6-21
Complete P6-1, P6-5, P6-8, P6-11, P6-14, and P6-16
Oct. 18 / Complete E14-2, E14-3, E14-5, E14-9, and E14-11Complete E14-7 (use the data from the problem to construct income statements for the years ending 12/31/07 and 12/31/08 and balance sheets for 12/31/07 and 12/31/08)
Complete P14-1, P14-5, P14-6, and P14-9
Complete E14-16, E14-17, E14-12, E14-14, and P14-2
Oct. 25 / Finish chapters 6 & 14Review for Exam 3
Nov. 1 / Exam 3 - Chapters 6 and 14
Nov. 8 / Read Chapter 17
Complete E17-1, E17-3, E17-4, E17-6, E17-10, E17-13, E17-15
Complete E17-16 and E17-8
Complete P17-1, P17-3, and P17-8
Nov. 15 / Finish chapter 17
Nov. 22 / Holiday – No Class
Nov. 29 / Review for Final Exam
Dec. 6 / Reading Day – No Class
Dec. 13 / Final Exam - Chapter 17 & Comprehensive Final Exam