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AC 320 Intermediate Accounting I
Stacey, Lori L.


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 320 Intermediate Accounting I

Semester

S2HH 2008 PA

Faculty

Stacey, Lori L.

Title

Senior Instructor/Adjunct Faculty

Degrees/Certificates

Bachelors in Business Administration, University of North Dakota
Masters of Accountancy, University of North Dakota
CPA, CGFM

Office Hours

By appointment

Daytime Phone

937-656-3369

Other Phone

937-478-9474 (c)  937-429-8538 (h)

E-Mail

Lori.Stacey@park.edu

twink51@woh.rr.com

Semester Dates

17 March - 18 May 2008

Class Days

---T---

Class Time

5:30 - 10:30 PM

Prerequisites

AC201, CS140

Credit Hours

3


Textbook:

 

Kieso/Weygandt/Warfield, Intermediate Accounting, 12th Edition, John Wiley & Sons 2006

 

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

 

Journal of Accountancy”, Wright State Library 

“ProQuest” Research Program, Wright-Patterson AFB Library

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:
A study of the theoretical and technical basis of current accounting practices. Course includes basic theory, analysis of financial statements and accounting changes. Emphasis is on compliance with generally accepted accounting principles applied to business problems. PREREQUISITES: AC202 and CS140 or equivalents. 3:0:3

Educational Philosophy:

The facilitator's educational philosophy is to enable the student to get the most possible from the class through participation in classroom discussion, lectures, readings, accounting cases, and exams. 

Learning Outcomes:
  Core Learning Outcomes

  1. Compute and record the cumulative effects on prior years of a change in accounting principles.
  2. Recognize and record discontinued operations and extraordinary expenses.
  3. Using straight line and declining balance methods, calculate and record depreciation expense.
  4. Using present value concepts, analyze retirement, investment and purchase alternatives.
  5. Account for investments.
  6. Record the purchase and amortization of intangible assets.


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:

  Examinations, group cases, and homework.

Grading:

Grading:

The course grade will be determined as follows:

The following grading scale will be used:

 

Points

Grade

Points

Homework (14.2%)

50

A

315 -- 350

Group Cases (28.6%)

100

B

280 -- 314

Midterm Exam (28.6%)

100

C

245 -- 279

Final Exam (28.6%)

100

D

210 -- 244

Total Course Points

500

F

Below 209

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. 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 Dean of the School of Business and Management.

Late Submission of Course Materials:
Late submission and make-up examinations will be accepted with the prior authorization from the instructor for excused absences only.

Classroom Rules of Conduct:

Demonstrate respect for the instructor and fellow students at all times.  Participation in classroom discussion greatly facilitates increased learning and is highly encouraged.  Students are expected to attend all classes and to arrive on time.  Cell phones must be turned off or in silent mode during class.  Put them away to prevent disturbing the rest of the class.

Course Topic/Dates/Assignments:

  

Meet

Date

Topics

Reading

Assignments

#1

Mar 18

Financial Accounting and Accounting Standards
Conceptual Framework Underlying Financial Accounting

Ch 1, pp. 1--26

Ch 2, pp. 27--60

CA1-1, 2, 9, 10, 11, 12

E2-2, 3, 4, 7
CA2-5, 9, 11

#2

Mar 25

The Accounting Information System

Income Statement and Related Information

Ch 3, pp. 61-124

Ch 4, pp. 125-168

E3-1, 2, 5, 7, 9, 11, 14, 16, 19
P3-5,6
E4-1, 2, 3, 9, 11
P4-2

#3

Apr 1

Balance Sheet and Statement of Cash Flows
Accounting and the Time Value of Money

Ch 5, pp. 169-250

Ch 6, pp 250-312

E5-2, 6, 10, 13
P5-2
E6-1, 2, 3, 6, 7, 20
P6-1

#4


Apr 8

Midterm Exam

Chapters 1 - 6

Review Chapters

#5

Apr 15

Cash and Receivables

Valuation of Inventories: A Cost-Basis Approach

Ch 7, pp. 313-366

Ch 8, pp. 367-420

E7-1, 3, 4, 5, 6, 9, 22, 25
P7-2
E
8-1, 2, 5, 8, 9, 13
P8-2

#6



Apr 22

Inventories: Additional Valuation Issues
Acquisition and Disposition of Property, Plant, and Equipment

Ch 9, pp. 421-470

Ch 10, pp. 470-520

E9-1, 4, 8, 12, 13, 19
P9-1
E10-1,3, 4, 11, 18, 23
P10-4

#7



Apr 29

Depreciation, Impairments, and Depletion
Intangible Assets

Ch 11, pp. 521-570

Ch 12, pp. 571-616

E11-1, 4, 6, 7, 16, 19, 24
P11-2
E12-1, 3, 4, 6, 10
P12-1

#8



May 6

Current Liabilities and Contingencies

Long-Term Liabilities

Ch 13, pp. 617-670

Ch 14, pp. 671-724

E13-1, 2, 8, 10, 16, 17
P13-1, 4
E-14-1, 3, 13, 17

#9



May 13

Final Exam

Chapters 1-14

Group Cases due

In Class/Group Cases

Chapter

Case

Page

Requirements

4

2

165

all

5

3

247

a, b

7

2

363

Part 1 or Part 2

8

3

418

a, b, c

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 2007-2008 Undergraduate Catalog Page 85-86

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 2007-2008 Undergraduate Catalog Page 85

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.
  3. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  4. 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 "F".
  5. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  6. 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.
  7. 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 2007-2008 Undergraduate Catalog Page 87-88

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 .



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 changes in accounting principles in 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 changes in accounting principles in 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 changes in accounting principles in 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 changes in accounting principles in 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
5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to accounting for investments
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 accounting for investments
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 accounting for investments
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 accounting for investments
Question 20
Less than 50%
 
Technical Skill in Communicating written essay                                                                                                                                                                                                             
Outcomes
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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 intermediate accounting knowledge within the scope of AC 320 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
100-80 %
 
Student will demonstrate an intermediate accounting knowledge within the scope of AC 320 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
60-79%
 
Student will demonstrate an intermediate accounting knowledge within the scope of AC 320 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
50-59%
 
Student will demonstrate an intermediate accounting knowledge within the scope of AC 320 to assist them in performing their job functions or enhancing their accounting knowledge
Overall Score
Less than 50%
 

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Last Updated:2/6/2008 10:05:15 PM