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AC 325 Intermediate Accounting II
Osborne, Robert Lewis


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 DC
SemesterS2DD2005
FacultyOsborne, Robert L.
TitleAdjunct Senior Instructor
Degrees/CertificatesCMA, CGFM, CDFM and CBM
Office LocationDSCC, Building 11
Office HoursBefore class, After Class, or by Appointment.  Office hours are not available during normal work hours.  However, assistance can be obtained by calling or emailing the instructor, or by appointment
Daytime Phone(614) 216-9768
Other Phone(614) 216-9768
E-MailRobert.Osborne@park.edu
osbornephd@sbcglobal.net
Semester DatesMarch 21 to May 15, 2005
Class Days--T----
Class Time5:00 - 10:30 PM
PerquisitesAC 320, CS 140 or equivalents
Credit Hours3

Textbook:
Kieso, Donald E., Jerry J. Weygandt and Terry D.Warfield.  Intermediate Accounting Hoboken, NJ, John Wiley & Sons, Inc: Eleventh Edition, 2004

Each student is required to have his/her own copy of the text and bring it to each class session.   Each student should have a calculator for this course.  The particular make or model of calculator is left at the student's discretion.

Textbooks can be purchased though the MBS bookstore

Additional Resources:
Any Principles of Accounting Text.

OPTIONAL:  Study Guide, Intermediate Accounting.   Hoboken, NJ, John Wiley & Sons, Inc: Eleventh Edition, 2004.

Working Papers, Intermediate Accounting.   Hoboken, NJ, John Wiley & Sons, Inc: Eleventh Edition, 2004.

To enhance your current knowledge of accounting publications and articles published by the Financial Accounting Standards Board (FASB) of the American Institute of Certified Public Accountants (AICPA) are available.  The Journal of Accountancy and other professional accounting publications are a good source for additional discussions. Also, the Governmental Accounting Standards (GASB) of the Financial Accounting Foundation is a primary reference for Governmental accounting.


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:
To foster a learning environment that enables the learner to realize his/her greatest potential. Specifically, this class teaches the student the accounting principles and practices related to international accounting, partnerships, governmental, trust, and non-profit organization accounting.  Also, we will strive for the learner to think critically; to communicate clearly; and to take ownership for his/her learning.  The instructor's educational philosophy is based on student participation which is based on lectures, readings, quizzes, dialogues, examinations, internet, and writings.  The instructor will encourage each learner to explore new ideas, issues, and contradictions.

Learning Outcomes:
This course will help the student learn how to determine what information should be reported and how it should be quantified according to generally accepted accounting principles (GAAP).  The course combines theory and practice and gives the student a reason for the existence of accounting principles rather than merely presenting isolated facts.  Students should understand the theory and application of GAAP.  Students should understand the nature and purpose of GAAP.  Students will be able to analyze data, determine relevancy of data, and use data to properly prepare financial statements  

Upon successful completion of this course students will be able to:
1.  Operate within the theoretical structure of financial accounting
2.  Conceptualize accounting problems and propose a solution through the use of authoritative language and accounting techniques
3.  Apply the correct accounting standard to various financial instruments (bonds, leases, pensions) and as outlined by the SFAS (Statement of Financial Accounting Standards)
4.  Analyze the results of a company's earnings per share (basic and diluted) calculation
5.  Apply proper accounting treatment for accounting changes, errors, and corrections
6.  Analyze the results of a statement of cash flows using the direct method

Students will gain specific knowledge of GAAP and improve their reasoning skills by applying theoretical and technical bases of current accounting practice to resolve problems.  Students will learn to identify problem situations, search for relevant information, analyze and interpret the information and reach a well-reasoned conclusion.

Course Assessment:
This course will cover Chapters 9 through 19 of the assigned text.  Students will have the opportunity to learn theory and concepts and to put them to practical use through classroom discussion, problem solving and examination.   Class sessions will consist of discussion and lecture activities accompanied by a review of homework assignments and examinations.  Lectures will be based on text material and practical experience.  Student participation will be emphasized with problem solving and class discussions.  This course will cover Chapters 1 through 14 of the assigned text.

Students will be expected to have read and studied the material assigned for that class and have completed the assigned homework problems.

The will be two (2) Examinations, two (2) quizzes and five (5) graded homework assignments.  Examinations will be graded on 100 points each, quizzes on 50 points each and homework on 20 points each.

1. Examination Number One (1) – Chapters 9, 10, 11, 12 & 13
2. Examination Number Two (2) – Chapters 14, 15, 16, 17, 18 & 19

Grading:
Course grades will be based on an average percentage, as follows:
A. Examinations: two (2) 100 points each...200 points total
B. Quizzes: two (2) 50 points each.........100 points total
B. Homework: FIVE (5)at 20 points each.....100 points total
C. Class total 100 percent.................400 points total

D.  This course grade distribution is as follows:
A = 90% to 100%
B = 80% to 89.9%
C = 70% to 79.9%
D = 60% to 69.9%

An “Incomplete” will be assigned only in accordance with Park University policy.  All final grade percentages will be rounded to one decimal point.

Late Submission of Course Materials:
A.  Examinations are announced well in advance and it is the Students' responsibility to know when exams are scheduled and make special arrangements PRIOR TO THE EXAM if they will be unable to attend.  Makeup exams will be allowed, without penalty, only if the situation warrants and only if PRIOR arrangements have been made with the instructor.  If you have an unexcused absence resulting in you missing an exam, the exam must be made up the following week.  In addition, your test score will be reduced by ten (10) percentage points.  These requirements are imposed to protect the validity of the evaluations and to enhance the objective of timeliness, which is of major importance in Accounting.

B.  Homework assignments must be submitted on or before the beginning of the class on the assigned due date.  Ten (10) percentage points will be deducted for each calendar day that homework is late.  Please note; Homework will not be accepted after graded homework has been handed back to the class.  The instructor, at his/her sole discretion, may choose to amend this policy in certain cases to accommodate extenuating circumstances. Assignments submitted for grading will be returned within one week of the due date.  All assigned homework will serve as bases for discussion in class.  It is important to note that it is virtually impossible to understand accounting as it works in the real world, without performing problems in a classroom situation.  Reading the book without performing the homework will not result in your learning accounting.

Classroom Rules of Conduct:
The classroom rules of conduct include the following: 1. Respect the instructor's decisions/requirements; 2. Respect other learners; 3. Participate in classroom discussions/exercises; 4. Take ownership and complete assignments by given deadlines; 5. Notify instructor of any possible absences or missed deadlines.

Remember, computers make writing and revising much easier and more productive.  Students must recognize though that technology can also cause problems.  Printers run out of ink and hard drives crash.  Students must be responsible for planning ahead and meeting deadlines in spite of technology.

Students will be expected to have read and studied the material assigned for that class and have completed the assigned homework problems.

 ChaptersSubjectWhat to Expect
Meeting - 19Review syllabus, Valuation of InventoriesLecture, problems
Meeting - 29 and 10Inventories continued and Plant assetsLecture, problems
Meeting - 311 and 12Depreciation and Intangible assetsLecture, problems, quiz
Meeting - 413 and 14Current Liabilities and ContingenciesLecture, homework, exam 1-take home **
Meeting - 514 and 15Long-term liabilities continued, Stockholders' EquityLecture, Problems, exam 1 due back
Meeting - 616 and 17Earnings Per Share & InvestmentsLecture, problems, quiz
Meeting - 718 and 19Revenue Recognition & Income TaxesLecture, problems
Meeting - 8 FINAL EXAMLecture, final exam
Note:A list of graded homework assignments will be provided the first night of class.  
Note:**If the instructor determines that the Midterm will be a take home exam, it will be handed out during week 4 and due back week 5 with no exceptions.  

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 2004-2005 Undergraduate Catalog
Page 101

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 101

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 2004-2005 Undergraduate Catalog Page 100

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