Textbooks can be purchased though the MBS bookstore
Course Description: Continuation of AC 420. Course includes consolidated financial statements and fund accounting. Pre-requisites: AC420 and CS140 or equivalents. 3:0:3
Educational Philosophy: To teach the student the accounting principles and practices of international, partnership, governmental, trust, and non-profit organization accounting.
Learning Outcomes:The following is a list of major learning outcomes which students should posses after completing the course:
· How to account for transactions with foreign countries
· The comparability of international financial statements
· The translation of foreign currencies
· The formation of and accounting for partnerships
· The various methods of dividing earnings between partners
· The entrance of a new partner or retirement of existing partner
· The liquidation of a partnership
· The 12 basic accounting principles for governmental accounting
· The techniques of fund accounting
· How to prepare governmental financial statements
· The accounting method and principles for public and private universities, hospitals and other nonprofit organizations
· The preparation of Statements of Affairs and other matters related to bankruptcy liquidation and reorganization
· Fund accounting for estates and other trusts
Course Assessment: Lectures will be based on text material and fifty years of professional accounting experience. Student participation will be emphasized with group problem solving and class discussions. Homework will be assigned. Testing will include two quizzes, a mid-term and a final exam.
Grading: Grading will be weighted as follows: Attendance 20%, Homework 10%, Quizzes 20%, Group problems and class participation 25%, and Examinations 25%. The instructor will use objective grading standards except that additional grade points will be given for marked scholastic improvement and grade points will be deducted for attitudes of indifference, belligerence, or withdrawal from classroom participation. An “Incomplete” will be assigned only in accordance with Park University policy. Letter grades will be assigned on grade-point ranges as follows: A, 90 thru 100; B, 80 thru 89; C, 70 thru 79; D, 60 thru 69; F, under 60.
Late Submission of Course Materials: If late submission is due to an excused absence or otherwise pre-arranged with instructor, late submissions will be graded without prejudice. Late submissions will not be accepted for assignments missed due to unexcused absence.
Classroom Rules of Conduct: Each student will be required to show-up on time, read the text chapters required for and prior to each class session, submit homework on time, participate in classroom activities, and submit all assignments, quizzes and tests in neat and legible form.
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. <a href="http://www.park.edu/catalog">
Park University 2004-2005 Undergraduate Catalog</a> Page 101Plagiarism-the appropriation or imitation of the language or ideas of another person and presenting them as one's original work-sometimes occurs through carelessness or ignorance. Students who are uncertain about proper documentation of sources should consult their instructors.”
Instructors are required to maintain attendance records and to report absences
via the online attendance reporting system.
Park University 2004-2005 Undergraduate
Catalog Page 100
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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