Master Syllabus: ACT 33911

TROYUNIVERSITY
MASTERSYLLABUS
SORRELLCOLLEGE OF BUSINESS

ACT 3391
Intermediate Accounting I

TROY UNIVERSITY SCOB MISSION STATEMENT

The Sorrell College of Business (SCOB) prepares a diverse student body, drawn primarily from Alabama and surrounding states, to become successful, ethical and engaged business professionals with the knowledge to compete in the global business environment.

To achieve this our faculty, staff, and administration will:

Provide quality undergraduate and graduate education in global business through high-quality teaching;

Serve the university and engage with business and professional communities in our primary service area through individual involvement and our centers for research and outreach;

Grow and enhance the longstanding “culture of caring” for our traditional, nontraditional, military, and international students; and

Contribute to the creation of knowledge, with a focus on the scholarship of application and integration, and teaching and learning, complemented by basic and discovery scholarship in select disciplines.

TROY UNIVERSITY SCOB VISION STATEMENT

The Sorrell College of Business strives to be a renowned teaching-focused business college graduating GEEKS ready to succeed in business and life.

Prerequisites: ACT 2292 with a grade of C or better.

Description

Theory and applications of assets, liabilities, owners’ equity, revenues, expenses, and analytical process. Accounting majors must complete this course with a grade of C or better.

Objectives

Upon completion of the course, a student should be able to:

  1. Analyze and record complex business transactions associated with operating, financing, and investing activities of business entities
  2. Describe the historical development of the accounting standards setting process
  3. Identify numerous organizations that are pertinent to the accounting profession
  4. Explain the purpose of the Conceptual Framework as promulgated by the Financial Accounting Standards Board
  5. Prepare year-end adjustments, adjusting entries, and closing entries and financial statements
  6. Apply present value concepts

Purpose

To enhance understanding of how selected financial transactions are analyzed and recorded with an emphasis on accounting for assets, revenues, and expenses.BSBA Accounting major requirement.

To strengthen the student’s accounting knowledge beyond the principles level. Study will be focused on the Conceptual Framework of accounting, an overview of the accounting process, expansion of the simplified Income Statement, and discussion of assets and their proper valuation and disclosure on the financial statements.

Required Activity

This course must contain a student engagement activity with the community that relates to course content. The activity may include guest speakers, site visits, projects for the community/industry, etc…

Approved Texts

Kieso, D. E., Weygandt, J. J., & Warfield, T. D. Intermediate Accounting (current edition). Hoboken, NJ: John Wiley & Sons, Inc.

Supplements

As deemed appropriate

Course Outline

Chapter 1Financial Accounting and Accounting Standards

Chapter 2Conceptual Framework Underlying Financial Accounting

Chapter 3The Accounting Information System

Chapter 4Income Statement and Related Information

Chapter 5Balance Sheet and Statement of Cash Flows

Chapter 6Accounting and the Time Value of Money

Chapter 7Cash and Receivables

Chapter 8Valuation of Inventories: A Cost-Basis Approach

Chapter 9Inventories: Additional Valuation Issues

Chapter 10Acquisition and Disposition of Property, Plant, and Equipment

Chapter 11Depreciation, Impairments, and Depletion

Chapter 12Intangible Assets

Note: This outline is intended to be minimum coverage of concepts. Other concepts may be covered at the instructor’s discretion

School of Accountancy Mission Statement:

The mission of the School of Accountancy is to advance the accounting profession by providing quality accounting education to both undergraduate and graduate students. To achieve this, our faculty will:

1) prepare students for career opportunities with increasing professional and managerial responsibility in regional public accounting as well as government and industry in the Southeastern United States and prepare undergraduate students for admission to graduate programs in accounting and business;

2) publish quality intellectual contributions that impact the practice of accounting and accounting education; and

3) provide service to and engage with the academic and professional communities.

School of Accountancy Vision Statement:

The School of Accountancy will be a recognized and respected leader for quality accounting education that prepares students to succeed in public accounting and government and industry.

Student Body and Service Area Description:

Alabama and the surrounding states are the primary target student markets for undergraduate and graduate business programs offered by the SCOB. The SCOB also serves strategic constituencies, such as members of the U.S. military, domestic distance learning students from across the country, and complementary international markets with select SCOB programs. A substantial portion of the university’s domestic and international enrollment consists of first generation students. The SCOB outreach and research centers primarily serve constituents in Alabama, usually near our campuses in Central and Southeastern Alabama.

Troy University Mission Statement

Troy University is a public institution comprised of a network of campuses throughout Alabama and worldwide. International in scope, Troy University provides a variety of educational programs at the undergraduate and graduate levels for a diverse student body in traditional, non-traditional and emerging electronic formats. Academic programs are supported by a variety of student services which promote the welfare of the individual student. Troy University’s dedicated faculty and staff promote discovery and exploration of knowledge and its application to life-long success through effective teaching, service, creative partnerships, scholarship and research.

Troy University Faculty Handbook (2016): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):

  1. Course title
  2. Course number + section
  3. Term
  4. Instructor
  5. Prerequisites
  6. Office hours
  7. Class days, times
/
  1. Classroom location
  2. Office location + e-mail address
  3. Office telephone
  4. Course description, objectives
  5. Text(s)
/
  1. Other materials
  2. Grading methods, criterion weights, make-up policy, mid-term grade reports
  3. Procedure, course requirements
/
  1. General supports (Computer Works, writing center)
  2. Daily assignments, holidays, add/drop & open dates, dead day, final exam
/
  1. ADA statement
  2. Electronic device statement
  3. Additional services, statements
  4. Attendance/
    Absence policy
/
  1. Incomplete work policy
  2. Cheating policy
  3. Specialization requirements (certification, licensure, teacher competencies)