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AC 425 Advanced Accounting II
Whetzel, Rosemary


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 425 Advanced Accounting II

Semester

S2M 2007 CH

Faculty

Whetzel, Rosemary

Title

Senior Instructor

Degrees/Certificates

MBA
BS in Accounting

Office Location

Room 143

Office Hours

Tuesday and Thursday at 3PM to 4:30PM

Daytime Phone

252-633-1855

Other Phone

252-671-0883

E-Mail

Rosemary.Whetzel@park.edu

nbrosiew@coastalnet.com

Semester Dates

March 19, 2007 to May 13, 2007

Class Days

--T-R--

Class Time

7:30 - 10:00 PM

Prerequisites

AC420 and CS140 or equivalents

Credit Hours

3


Textbook:

Advanced Accounting, by Hoyle,Schaefer, and Doupnik,8th Edition, McGraw-Hill Irwin Publishers nd
Study Guide and Working Papers for use with Advanced Accounting, 8th Ed.

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Financial Accounting Standards Board, American Accounting Association, American Institute of Certified Accounts, Governmental Accounting, Auditing and Financial Reporting (GFOA), GAAP and various werbsites (a complete website list will be distributed on the first day of class).

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.

http://sec.gov
http://gaap.org.
http://mhhe.com/hoyle8e

Course Description:
Continuation of AC . Course includes consolidated financial statements and fund accounting. PREREQUISITES: AC420 and CS140 or equivalents. 3:0:3

Educational Philosophy:

Lecture, discussions and problem solving individually and in groups will take place in the classroom.  You will also be required to do spreadsheets using Excel.  Prior to each scheduled class, the student is required to read assigned chapters and to do all written homework. Testing will include quizzes, a mid-term exam and a final exam.  A project will also be assigned.

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare corporate consolidated financial statements.
  2. Prepare elimination entries for inter-company transactions.
  3. Journal financial transactions for non-profit organizations.
  4. Prepare financial statements for non-profit organizations.
  5. Prepare budgets and analyses for non-profit organizations.
  6. Analyze and critique a local government's financial statements.


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:

Research Cases, Excel Cases, Examinations (mid-term exam and a final exam)

Grading:

A= 93-100
B=85-92
C=77-84
D=69-76
F=Below 69
 
Homework             5%
Research Cases     10%
Excel Cases           10%
Quizzes                  10%
Mid-Term Exam    30%
Final Exam            35%
 
 

All final exams will be comprehensive and will be closed book and closed notes.  If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth.  Electronic Computers will not be allowed on final exams unless an exception is made by the Associate Dean.

Late Submission of Course Materials:
Mid-Term and Final Exams must be taken on their scheduled dates. 

Classroom Rules of Conduct:

Turn your cell phones "off" when entering the room.  If you are expected an emergency call, please let the instructor know prior to the beginning of class.  All students must be on time.  Class will start at exactly 4:45PM. 

Course Topic/Dates/Assignments:

Week 1  -  Chapter 1 - The Equity Method of Accounting for Investments
 
Week 2 -- Chapters 3 and 4.  Consolidation of Financial Information and Consolidations --Subsequent to the Date of Acquisitions.
 
Week 3.  Chapters 5 & 6 -- Consolidated Financial Statements and Outside Ownership and Consolidated Financial Statements --Intercompany Asset Transactions.
 
Week 4 -- Variable Interest Entities, Intercompany Debt, Consolidated Cash Flows, and Other Issues.
 
                   Mid-Term on Thursday, April 12th
 
Week 5 -- Chapter 7 - Consolidated Financial Statements -- Ownership Patterns and Income Taxes
 
Week 6   Chapters 16 and 17 -- Accounting for State and Local Governments
 
Week 7 -- Chapter 18 -- Accounting and Reporting for Private Not-for-Profit Organizations
 
Week 8 -- Presentation of  Research Projects, review for final exam and Final Exam on
                Thursday, May 10, 2007.

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 2006-2007 Undergraduate Catalog Page 87-89

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 2006-2007 Undergraduate Catalog Page 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 "W".
  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 2006-2007 Undergraduate Catalog Page 89-90

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 .

Additional Information:

Add/Drop Dated:  3/19/07 to 3/26/07

 

Withdrawal Dates:  3/27/07 to 4/22/07



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluate and define accounting concepts identified by:                                                                                                                                                                                                     
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
100-80 %
 
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
60-79%
 
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
50-59%
 
Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
Q1, Q4, Q8, Q12, Q15
Less than 50%
 
Synthesize data to produce a logical flow of informational reporting  per established accounting rules and standards                                                                                                                                       
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Assemble the correct and ethical accounting treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
100-80 %
 
Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
60-79%



 
Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
50-59%
 
Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
Q3, Q6, Q7, Q11, Q14
Less than 50%
 
Analysis of transactional data                                                                                                                                                                                                                             
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
100-80 %
 
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
60-79%
 
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
50-59%
 
Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
Q2, Q5, Q9, Q10, Q13
Less than 50%
 
Application of established rules and logic per regulatory and commercial standards                                                                                                                                                                         
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate and interpret accounting data for preparing corporate consolidated financial statements order to produce accurate Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
100-80 %
 
Demonstrate and interpret accounting data for preparing corporate consolidated financial statements order to produce accurate Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
60-79%
 
Demonstrate and interpret accounting data for preparing corporate consolidated financial statements order to produce accurate Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
50-59%
 
Demonstrate and interpret accounting data for preparing corporate consolidated financial statements order to produce accurate Balance Sheets and Income Statements per Generally Accepted Accounting Principles
Q16, Q17, Q18
Less than 50%
 
Content of Communication written essay                                                                                                                                                                                                                     
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to
preparing corporate consolidated financial statements
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 preparing corporate consolidated financial statements
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 preparing corporate consolidated financial statements
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 preparing corporate consolidated financial statements
Question 20
Less than 50%
 
Technical Skill in Communicating written essay                                                                                                                                                                                                             
Outcomes
4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
Question 19
100-80 %
 
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
Question 19
60-79%
 
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
Question 19
50-59%
 
Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
Question 19
Less than 50%
 
First Literacy Technical knowledge and application                                                                                                                                                                                                         
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Student will demonstrate an advanced accounting knowledge within the scope of AC 425 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
100-80 %
 
Student will demonstrate an advanced accounting knowledge within the scope of AC 425 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
60-79%
 
Student will demonstrate an advanced accounting knowledge within the scope of AC 425 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
50-59%
 
Student will demonstrate an advanced accounting knowledge within the scope of AC 425 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
Less than 50%
 

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Last Updated:3/4/2007 2:53:55 PM