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AC 425 Advanced 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.

Course

AC 425 Advanced Accounting II

Semester

F2DD 2006 DC

Faculty

Osborne, Robert Lewis

Title

Adjunct Senior Instructor

Degrees/Certificates

CMA, CFM, CGFM, CDFM, CBM

Office Location

DSCC, Building 11 Columbus Ohio

Office Hours

Before 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) 251-4261

E-Mail

Robert.Osborne@park.edu

osbornephd@sbcglobal.net

Semester Dates

October 23 to December 17, 2006

Class Days

-T-----

Class Time

5:00 - 10:45 PM

Prerequisites

AC 420 and CS 140 or equivalents

Credit Hours

3


Textbook:

Fischer, Paul M., William J. Taylor, Rita H. Cheng.  Advanced Accounting, South-

                   Western, a Division of Thompson Learning, Ninth Edition (9 th Ed), 2006.

                    ISBN: 0-324-30401-3

 

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.

 

SUPPLEMENTAL RESOURCE MATERIALS: 

Fischer, Paul M., William J. Taylor, Rita H. Cheng.  Student Companion Book,

                   Advanced Accounting, South-Western, a Division of Thompson Learning,

                   Ninth Edition, 2006.  ISBN: 0-324-30401-3

 

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Any Principles of Accounting or Intermediate Accounting Textbook

 

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 the primary reference for Governmental fund accounting.

 

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/.


Course Description:
Continuation of AC 420 . Course includes consolidated financial statements and fund accounting. PREREQUISITES: AC420 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:
  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:

This course will cover Chapters 1 through 5 and 15 through 19 of the assigned text.

There 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 1 though 5

            2.  Examination Number Two (2) – Chapters 15 through 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

 

C.  Homework: FIVE (5) at 20 points each                               100 points total

 

D.  Class total   100 percent                                                      400 points total

 

E.  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.

Course Topic/Dates/Assignments:

 

Week

Chapters

Subject

What to expect

1

1 & 2

Review syllabus;  Business Combinations

Lecture, problems

2

3

Consolidated Statements

Lecture, problems

3

3 & 4

Consolidated Statements, Intercompany Transactions

Lecture, problems; Quiz 1

4

5

Intercompany Transactions Mid-Term Ch 1-5

Lecture, exam **

5

15

Review Graded Exam.  Governmental Accounting and the General Fund

Lecture, Problems

6

16

Governmental Accounting and other Funds

Lecture, problems; Quiz 2

7

17 & 18

Financial Reporting issues; Not-for-Profit Organizations

Lecture, problems

8

19

Not-for-Profit Organizations; Review,

Final Exam Ch 15 - 19

Final Exam

 

 

A list of graded homework assignments and additional information on the Research paper and presentation will be provided the first night of class.

 

 

**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 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:

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


 


Attachments:
AC 425 Assignments F2DD 06

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:10/1/2006 11:12:05 PM