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BUS-337-20, Intermediate Accounting I

INSTRUCTOR: Faye Cook

SCHEDULE/DAY/TIME: SEM/Wednesday/6:00 - 8:45 PM, September 5, 12, 26; October 3, 17, 24; November 7, 14, 28; December 5. Exam: December 12

CONTENT:

Covers collecting, adjusting, and presenting accounting information. Emphasizes understanding published financial statements and developing a framework for analyzing a wide variety of financial reporting issues. Students examine topics including cash, short term investments, receivables, payables, inventories and operational assets and liabilities.

LEARNING OBJECTIVES:

-To explore in greater detail the theoretical and practical application of financial accounting topics. These topics include a review of basic financial accounting functions and theory, the financial statements, and asset, liability, and income measurement.

This course addresses a number of accounting educational objectives. Specifically, this course will enable the student to:

-Develop a mastery of technical financial accounting knowledge

-Conduct accounting research in course specific content areas using the Financial Accounting Standards Board Accounting Standards   Codification

-Develop problem solving and analytical skills

-Develop a knowledge of information needs of decision-makers and the role of accounting information in satisfying those needs    

-A list of learning objectives is found at the beginning of each chapter in the text. These learning objectives serve as a foundation for the concepts and techniques which we will study in each chapter. Students should review these learning objectives as we begin each chapter. Tests will be structured that measure your success in meeting these learning objectives as well as your comprehension and application of the material.

-In addition to the text material, students should also be able to discuss current accounting related events and business related ethical issues in class. The Wall Street Journal is an excellent publication for students to use for this purpose.

REQUIREMENTS AND ASSIGNMENTS: 

Conduct of Classes: 

-Students are expected to thoroughly read each chapter BEFORE  chapter is discussed in class and have questions ready on points that they do not understand. 

-After discussing the chapter material, we will apply what you have learned by going over several exercises and problems related to the chapter material. Students (randomly selected) will be asked to supply solutions verbally. Thoroughly studying the chapter material will enable students to supply a reasonable solution.

-The course will include the use of the internet tool –Blackboard/Joule. You should check this site regularly since various course requirements, assignments, etc. will be found there. Upcoming assignments will also be verbally discussed in each class.

Exams:          

There will be a two midterm exams and a final exam given in the course. The weight of each examination is indicated below in the Grading Policy. The breakdown, by chapter, for these exams is given later in the syllabus. Exams will consist of any combination of true-false, multiple choice, essay, and/or problem type questions. They will cover items discussed in the text and anything talked about in class. All students are expected to take the exams as scheduled. You will receive a mark of zero for absence from tests unless the absence is excused. You will be excused if written evidence is presented indicating that the absence was caused by illness, a death in the family, religious observance, or participation in College activities at the request of the College. If you are ill, I must be notified prior to the test. All other absences, except in the case of an extreme emergency, must be approved at least one week prior to the date of the test. If you are excused to miss a test, see the instructor regarding a make-up-exam.

Quizzes:         

Quizzes will be given periodically after the first week and not including exam week.   Quizzes will be announced one week in advance.

Homework:      

Homework will be assigned weekly in the classroom. The assignments are worth 10% of your total course grade.  

Grading Policy:        

20% Mid-term exam #1; 20% Mid-term exam #2; 25% Final exam; 10% Homework assignments; 10% Quizzes; 10% Class Participation; 5% Class Attendance=100%

REQUIRED TEXT(S) OR MATERIALS: 

Intermediate Accounting Latest Edition, Keiso, Weygandt, Warfield, John Wiley & Sons, 2010. ISBN 978-0-470-43726-1

This text includes a registration code for Wiley Plus. The use of Wiley Plus will be discussed the first day of class.

This text will also be used for Intermediate Accounting II.

RECOMMENDED READINGS OR MATERIALS: 

Optional Texts: Study Guide to Accompany Intermediate Accounting by Kieso, Weygandt, &   Warfield, John Wiley & Sons, 2010. ISBN 978-470-38059-8

The instructor will not make any assignments from the study guide.

READINGS AND/OR ASSIGNMENTS TO BE DONE PRIOR TO THE FIRST CLASS:

Class 1; Chapter 1, “Financial Accounting and Accounting Standards” & Chapter  2, “Conceptual Framework Underlying Financial Accounting”