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AC 430 Auditing
Castleman, Ronald


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.

Course

AC 430 Auditing

Semester

U1L 2006 WT

Faculty

Castleman, Ronald

Title

Adjunct Faculty

Degrees/Certificates

MBA
CPA

Office Location

433 E Russell -- Warrensburg, MO

Office Hours

By appointment

Daytime Phone

(660) 747-2033

Other Phone

(660) 441-2033

E-Mail

R.castleman@park.edu

castr@charter.net

Semester Dates

June 5, 2006 - July 30, 2006

Class Days

--T-R--

Class Time

7:40 - 10:20 PM

Prerequisites

Intermediate Accounting I

Credit Hours

3


Textbook:
Arens, Loebbecke, Auditing, 8th ed.: Prentice Hall

Additional Resources:
Student is expected to use the internet, magazines, books, and newspapers.


Course Description:
A study of auditing theory and procedures, the development and use of internal controls, and the ethical and professional standards of an independent professional accountant.  Pre-requisites: AC325 and CS140 or equivalents.  3:0:3

Educational Philosophy:
Students are expected to learn through studying the textbook, class discussions, research, and instructor experience.  Reserach should be done by using the internet, reviewing magazines, reading books, and listening to the news.

Learning Outcomes:
  Core Learning Outcomes

  1. Review, analyze and test internal controls.
  2. Complete an audit of a fictitious corporation.
  3. Write an audit plan.
  4. Prepare adjustments of accounts.
  5. Write audit reports.
  6. Prepare audit schedules and working papers.


  Instructor Learning Outcomes
  1. 1.    Prepare a proof of cash.
  2. 2.    To list and differentiate the three basic audit reports, indicating when each should be used.
  3. 3.   Differentiate between a compilation, a review, and an audit.
  4. 4.   To read and interpret data
Core Assessment:
The test examines each learning outcome with 20 questions. Eighteen multiple-choice questions will be based upon a distribution of critical thinking concepts applied to a learning outcome. Two questions will examine a communication/writing component. Each question will be weighted as 5 points. 

Link to Class Rubric

Class Assessment:
A student's grade will be determined by two major tests which will incorporate the core assessment, three projects, multiple learning devices, and class participation.

Grading:
Grades will be determined as follows:
Test 1  ------------------------------  400
Test 2  ------------------------------  400
Project 1  ---------------------------  100
Project 2  ---------------------------  100
Project 3  ---------------------------  100
Class Participation  -----------------  100
Learning Devices  --------------------  175

      Total                          1,375

Minimum Grading Scale:
A = 90%
B = 80%
C = 70%
D = 60%
F = below 60^

Late Submission of Course Materials:
Late submission will not be accepted without prior approval.  Should circumstances require that a student miss class, the student is expected to complete the equivalent make-up work.  This includes learning what transpired during the missed class.  Such may be accomplished by talking with the instructor, obtaining notes from a fellow student, having the class taped, etc.

Classroom Rules of Conduct:
The student is expected to participate in classroom disucssion and to respect the instructor and fellow students.

Course Topic/Dates/Assignments:
June 6 --
   None

June 8 --  
   Chapter 1  --- 1, 6, 7
   Chapter 2  --- 2, 14
   Chapter 3  --- 1, 5, 6, 7, 9, 19
   Chapter 4  --- 3, 5, 6

June 13 --
   Chapter 4  --- 8, 9, 10, 11, 12, 14, 17, 20, 25
   Chapter 5  --- 7, 9, 14, 23, 26

June 15 --
   Chapter 6  --- 2, 5, 6, 21, 23
   Chapter 7  --- 1, 12, 13, 16, 31, 34

June 20 --
   Chapter 8  --- 7, 13, 14, 19, 20, 21 28 (a and c), 32

June 22 --
   Chapter 9  --- 2, 4, 17, 34
   Chapter 10 --- 2, 10, 14, 14, 15, 26


June 6,

None,

None,

,

June 8,

Chapter 1
Chapter 2
Chapter 3
Chapter 4,

1, 6, 7
2, 14
1, 5, 6, 7, 9, 19
3, 5, 6,

,

June 13,

Chapter 4 (cont)

Chapter 5,

8, 9, 10, 11, 12, 14, 17, 20, 25
7, 9, 14, 23, 26,

,

June 15,

Chapter 6
Chapter 7,

2, 5, 6, 21, 23
1, 12, 13, 16, 31, 34,

,

June 20,

Chapter 8,

7, 13, 14, 19, 20, 21, 28 (a and c), 32,

,

June 22,

Chapter 9
Chapter 10,

2, 4, 17, 34
2, 10, 14, 15, 26,

,

June 27,

Test,

,

,

June 29,

Chapter 12
Chapter 13,

6, 29, 32, 33, 34
1, 2, 6, 7, 9,

,

July 4,

Chapter 13 (cont),

13, 15, 16, 24, 28, 32, 34,

,

July 6,

Open,

,

,

July 11,

Chapter 15

Chapter 17,

8, 9, 10, 11, 12, 14, 15, 23, 27, 28, 30
1, 3, 5, 7, 10, 13,

,

July 13,

Chapter 17,

17, 18, 21, 24, 25, 26, 27, 29,

,

July 18,

Chapter 18
Chapter 20,

25, 27, 30
1, 2, 7, 10, 13, 17, 18, 19, 24, 26,

,

July 20,

Chapter 21
Chapter 22,

3, 5, 6, 7, 20
1, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 14,

,

July 25,

Chapter 22 (cont),

21, 22, 24,

,

July 27,

Final,

,

,

,

,

,

,


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:
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

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. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluate and define accounting concepts identified by:                                                                                                 
Outcomes
1,2,3,4,6                                          
Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 100-80 % Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 60-79% Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 50-59% Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 Less than 50%
 
Synthesize data to produce a logical flow of informational reporting per established accounting rules and standards outcome(s):                        
Outcomes
1,2,3,4,6                                          
Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 100-80 % Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 60-79% Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 50-59% Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 Less than 50%
 
Analysis  of transactional data  outcome(s):                                                                                                           
Outcomes
1,2,3,4,6                                          
Analyze accounting transactions and apply audit procedures to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13 100-80 % Analyze accounting transactions and apply audit procedures to conduct an audit per  Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13 60-79% Analyze accounting transactions and apply audit procedures to conduct an audit per  Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13 50-59% Analyze accounting transactions and apply audit procedures to conduct an audit per  Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13  Less than 50%
 
Application of established rules and logic per regulatory and commercial standards outcome:                                                            
Outcomes
5                                                  
Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18 100-80 % Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18 60-79% Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18  50-59% Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18 Less than 50%
 
Content of Communication written essay outcome:                                                                                                        
Outcomes
3                                                  
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to writing an audit plan Question 20 100-80 % Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to writing an audit plan Question 20 60-79% Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to writing an audit plan Question 20 50-59% Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to writing an audit plan Question 20 Less than 50%
 
Technical Skill in Communicating written essay outcome:                                                                                                
Outcomes
5                                                  
Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 100-80 % Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 60-79% Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 50-59% Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 Less than 50%
 

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This material is copyright and can not be reused without author permission.

Last Updated:4/27/2006 9:40:14 PM