AC325 Intermediate Accounting II

for F2L 2005

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Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

CourseAC 325 Intermediate Accounting II WT
FacultyCastleman, Ronald
TitleAdjunct Faculty
Degrees/CertificatesB.A. degree
MBA degree
Office Location433 E Russell -- Warrensburg, MO
Office HoursBy appointment
Daytime Phone(660) 747-2721
Semester DatesOctober 24, 2005 - December 18, 2005
Class Days--T-R--
Class Time4:55 - 7:35 PM
PerquisitesAC 320 -- Inermediate Accounting I
Credit Hours3

Intermediate Accounting, Kieso, Whgrand, Warfield, Jone Wiley & sons, Inc., Eleventh Edition.

Course Description:
Continuation of AC320. Course includes current assets and liabilities, plant, property and equipment; long term liabilities; and shareholders equity. Pre-requisites: AC320 and CS140 or equivalents.  3:0:3

Educational Philosophy:
Each student is to be challenged to learn and increase his/her knowledge in accounting through homework, class discussion, and utilitization of outside sources including the intnet.

Learning Outcomes:

1.   To describe the characteristics of intangible assets.
2.   To identify the types of specifically identifiable    intangible assets.
3.   To explain the conceptual issues related to goodwill.
4.   To describe the accounting procedurs for goodwill.
5.   To explain and identify the concept related to research and evelopment costs.
6.   To indicate the presentation of intangible assets and related items.
7.   To journalize transactions relative to recording and amortizing intalgible assets.
8.   To define current liabilities and how they are valued.
9.   To identify the nature and types of current liabilities.
10.  To identify the criteria used for and disclose gain and loss contingencies.
11.  To indicate how current liabilties and contingencies are presented and analyzed.  
12.  To identify various types of bond issues.
13.  To compute bond discount and bond premium amortization utilizing various methods.
14.  To distinguish betwen current and long-term liabilies.
15.  To indicate how long-term debt is presented and analyzed.
16.  To journalize transactions involving the long-term liabilities.
17.  To identify characteristics of the corporate fom of organization and to contrast these characteristics with those of a proprietorship.
18.  To identify the rights of corporate shareholders.
19.  To explain the  accounting for treasury stock.
20.  To explain the accounting for treasury stock.  
21.  To describe the major features of preferred stock and common stock.
22.  To distinguish between debt and preferred stock.
23.  To identify the major classifications of the balance sheet and to determine the appropraite classification of accounts.
24.  To journalize stock transactions and dividend distributions.
25.  To explain the importance of appropriating retained earnings.
26.  To indicate how stockholders' equitry is presented.
27.  To identify the various forms of dividend distributions.
28.  To explain the accounting for convertible preferred stock.
29.  To compute earnings per share in a simple and complex capital structure.
30.  To apply the revenue recognition principle.
31.  To desribe the accounting issues invovled with revenue recognition at point of sale.
32.  To apply the percentage-of-complettion method for long-term contracts.
33.  To identify the proper accounting for losses on long-term contracts.
34.  To explain the nature, economic subastance, and advantages of lease transactions.
35.  To desribe the accounting criteria and procedures for capitalizing leases by the lessee.
36.  To describe the disclosure requirements for leases.
37.  To identify types of accounting changes.
38.  To describe the accounting for changes in accounting principles.
39.  To account for the accumulative effect of accounting changes.
40.  To describe the accounting for correction of errors.
41.  To identify economic motives fdor changing accounting methods.
42.  To explain effects of records in recording data on the various areas of the financial statements.
43.  Compute and record deferred income taxes.
44.  Record the declaration of stock dividends and stock splits.
45.  Account for pensions and post-retirement benefits.
46.  To recognize and explain accounting terms.
47.  To read and comprehend written communication.  

Course Assessment:
The course will include learning devices, examinations, and oral presentations related to accounting matters.

250   Learning Devices
300   Test #1
425   Comprehensive Final
50   Class Participation
50   Oral Presentations

1,100   Total Points for Course

The minimum grading plan will be
      90%  A
      80%  B
      70%  C
      60%  D
Below 60%  F

You may arrance an appointment to discuss your grade.      

Late Submission of Course Materials:
No work will be accepted late with prior permission.

Classroom Rules of Conduct:
Class attendance is expected.  Students are expected to spend a minimum of 40 hours classroom and teacher contact time; and, should circumstance require that you miss a class, you are expected to notify the instructor and to complete the equivalent makeup work.  This includes learning what transpired during the missed classes.  Such may be accomplished by talking with the instructor, obtaining notes from a fellow student, having the class taped, etc.

 Class ActivitiesHomework due for the Meeting     
Meeting - 1 -- 10/25ReviewNone     
Meeting - 2
Chapter 124, 7, 8, 9, 12, 17      
Meeting - 3
Chapter 138, 11, 12, 13     
Meeting - 4
 15, 16, 17, 18, 20      
Meeting - 5
Chapter 143, 4, 6, 8 (a/b)     
Meeting - 6
Meeting - 7
Meeting - 8
Test 1      
Meeting - 9
Chapter 152, 3, 4, 5, 6, 7, 8     
Meeting - 10
 9, 10, 11, 12, 13,
14, 15, 16
Meeting - 11

Chapter 16
19, 21, 23
5, 6, 7, 9
Meeting - 12
Chapter 171, 6, 9, 11, 14     
Meeting - 13
Chapter 181, 2, 4, 5, 6, 7, 10     
Meeting - 14
Chapter 223, 5, 7, 9, 10, 12, 12, 14, 15, 16, 17, 18     
Meeting - 15
Meeting - 16

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2005-2006 Undergraduate Catalog Page 85-87

Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2005-2006 Undergraduate Catalog Page 85-87

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "WH".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2005-2006 Undergraduate Catalog Page 89
Student must contact the instructor is a student will not be present.  This should be done prior to the class.  If that is not possible, it should be done as soon as possible after the class.

Disability Guidelines:

Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page:

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