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AC 430 Auditing
Ryno, Serge Alexander


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

U1SS 2006 RA

Faculty

Ryno, Serge Alexander

Title

Assistant Professor

Degrees/Certificates

BBA
MA
PhD,  CPA

Office Location

Randolph

Office Hours

Upon Request

Daytime Phone

325-446-3721

Other Phone

281-435-5777

E-Mail

SergeRyno02@pirate.park.edu

Semester Dates

June 5 thru July 30

Class Days

--T-R--

Class Time

7:40 - 10:20 PM

Prerequisites

AC 420 and CS 140 or equivalents

Credit Hours

3


Textbook:
Whittington, O.R., & Pany, K. (2006). Principles of Auditing and Other Assurance Services (15th Edition). New York: McGraw Hill/Irwin. ISBN 0-07-301084-7

Textbooks can be purchased though the MBS bookstore

Textbooks can be purchased though the Parkville Bookstore

http://www.sec.gov/rules/final/33-8177.htm
http://www.ffhsj.com/cmemos/020802_sarbanes_cover.htm
http://www.aicpa.org/info/sarbanes_oxley_summary.htm
http://www.pwcglobal.com/Extweb/NewCoAtWork.nsf/docid/D0D7F79003C6D64485256CF30074D66C

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:
Provide the student an opportunity to learn utilizing reading, writing, testing, presentation and communicative skills. The student should enhance their writing, research and presentation skills while gaining new insight into auditing theory.

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.


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:
90-100 A
80-89 B
70-79 C
60-69 D
<59 F

Grading:
Research Paper (min.5 pgs & 5 ref.)* 20%
Presentation* 20%
3 Quizzes (10 pts ea) 30%
Homework 20%
Class Participation 10%
·topics to be agreed in Class 1

Late Submission of Course Materials:
Students will be expected to complete their assignments timely. Ample notice will be given of all assignments. Chapter Reading and assignments will be completed prior to the beginning of each class. Assignments will be reduced one letter grade if received by the next scheduled class and will not be accepted after that.

Classroom Rules of Conduct:
Students will be expected to be participative in class and be respectful of one another in class.

Dates

Chapter

Homework

Quiz/ Papers/Presentations Due

June 6

Chapter 1 - The Role of the Public Accountant in the American Economy

1-2, 1-3, 1-5, 1-10, 1-23, 1-25, 1-32

 

June 8

Chapter 2 - Professional Standards -Oxley web sites and be prepared to discuss

2-1, 2-2, 2-4, 2-6, 2-10, 2-26,  2-29

 

June 13

Chapter 3 – Professional Ethics

3-1, 3-3, 3-7, 3-8, 3-15, 3-20, 3-28

 

June 15

Chapter 4 – Legal Liabilities

4-1, 4-2, 4-6, 4-12, 4-15, 4-19, 4-31

 

June 20

Chapter 5 – Audit Evidence and Documentation

5-1, 5-2, 5-6, 5-11, 5-14, 5-18, 5-21, 5-46

Quiz 1: Chapters 1-4

June 22

Chapter 6 – Planning the Audit- Linking Audit Procedures to Risk

6-3, 6-5, 6-6, 6-9, 6-13, 6-18, 6-36

 

June 27

Chapter 7 – Internal Control

7-2, 7-3, 7-4, 7-9, 7-10, 7-18, 7-39

 

June 29

Chapter 8 – Consideration of Internal Control in an Information Technology Environment

8-1, 8-3, 8-8, 8-9, 8-12, 8-25, 8-31

 

July 4

Chapter 9 – Audit Sampling

9-1, 9-2, 9-5, 9-13, 9-30, 9-31, 9-42

 

July 6

Chapter 10 – Cash and Financial Investments

10-1, 10-4, 10-8,
10-10, 10-11, 10-16, 10-37

Quiz 2: Chapters 5-9

July 11

Chapter 11 – Accounts Receivable, Notes Receivable, and Revenue

11-1, 11-2, 11-7, 11-11, 11-13, 11-17, 11-26

 

July 13

Chapter 12 – Inventories and Cost of Goods Sold

12-1, 12-3, 12-6,
12-10, 12-11, 12-31, 12-32

 

July 18

Chapter 14 – Accounts Payable and Other Liabilities

14-1, 14-3, 14-7, 14-9, 14-10, 14-23, 14-34

 

July 20

Chapter 16 – Auditing Operations and Completing the Audit

16-1, 16-4, 16-7, 16-9, 16-17, 16-22, 16-34

Papers Due

July 25

Chapter 17 – Auditors' Reports

17-1, 17-2, 17-5, 17-16, 17-17, 17-21, 17-25

Quiz 3: Chapters 10-16

July 27

Presentations

 

Presentations


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. 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: 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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Last Updated:4/18/2006 9:01:17 AM