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AC 320 Intermediate Accounting I
Platter, William E.


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

S2DD 2009 DC

Faculty

Platter, William E.

Title

Adjunct Faculty

Degrees/Certificates

Bachelors Accounting & Management, Park University
Masters Public Management, Georgetown University
Certified Internal Auditor (CIA)

Office Hours

By Appointment

E-Mail

william.platter@park.edu

Semester Dates

March 16- May 10, 2009

Class Days

--M--

Class Time

5:00-10:45

Prerequisites

AC201, and CS140

Credit Hours

3


Textbook:
Kieso/Weygandt/Warfield, Intermediate Accounting, 12th Edition, Copyright 2008, John Wiley & Sons

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

 
Financial Accounting Standards Board (FASB) http://www.fasb.org
Government Accounting Standards Board (GASB) http://www.gasb.org
American Institute of Certified Public Accountants (AICPA)  http://www.aicpa.org
AICPA Professional Resources http://www.aicpa.org/Professional+Resources
Institute of Internal Auditors (IIA) http://www.iia.org
US Government Accountability Office (GAO) http://gao.gov
 

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 practice. 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 CS 140 or equivalents. 3:0:3

Educational Philosophy:
Enable the student of accounting to achieve their individual goals and recognize their own unique potential. To fulfill these goals, the successful students will participate in classroom discussion, remain attentive to lecture, complete required reading assignments, and accomplish all required assignments.

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:

Class attendance and participation, homework, group project/presentation, and examinations.
 
 

Grading:

The course grade will be determined as follows:
   
There will two exams and they will account for 60% of the overall grade. 

   Midterm exam =  30%
   Final = 30%
   Homework =  20%
   Group Project/Presentation = 10%
   Participation = 10%
 
 
This course grade distribution is as follows:

A = 90% to 100%
B = 80% to 89%
C = 70% to 79%
D = 60% to 69%
F = 59% and below
 

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 of the instructor for excused absences without penaty.  Examinations are announced well in advance and it is the Students' responsibility to know when exams are scheduled and make arrangements PRIOR to the exam if they will be unable to attend.  If you have an unexcused absence which prevents you from taking an exam, the exam may be made-up, but you will be imposed a penalty of ten (10) percentage points.

Homework assingments must be submitted on or before the beginning of the class on the assigned due date.  Assignments will be discussed in class, and will be returned the following week.  Late submission of homework will not be accepted. If you cannot make it to class, email your homework assingment to the instructor or fax to the Park University office at 614-237-4629.  Partial or incomplete homework submitted on-time will receive partial credit. 
 

Classroom Rules of Conduct:
Demonstate respect for the instructor and fellow students at all times.  Students are expected to attend all classes and arrive on time.  Cell phones, Blackberries, pagers, etc. must be turned off or in silent mode (no exceptions) during class. 

Course Topic/Dates/Assignments:

 

Week

Date

Discussion Topics

Reading Assignments

Homework Assignments

1

Mar 16

Review Syllabus

Financial Accounting and Accounting Standards

Conceptual Framework Underlying Financial Accounting


Ch 1 pp. 1-26


Ch 2 pp. 27-60

Homework will be assigned at the completion of each class.

2

Mar 23

The Accounting Information System
 
Income Statement and Related Information
Ch 3 pp. 61-124


Ch 4 pp. 125-168
Homework will be assigned at the completion of each class.

3

Mar 30

Balance Sheet and Statement of Cash Flows
 
Accounting and the Time Value of Money
Ch 5 pp. 169-250


C
h 6 pp. 251-312
Homework will be assigned at the completion of each class.

4

Apr 6

Review homework assignments for chapters 5 & 6.
Review Chapters 1-6

Review Ch 1 - 6

Review notes & prior assignments.  Prepare for Mid-Term Exam.

4

Apr 6

Mid-Term comprehensive Ch 1-6

 

 

5

Apr 13

Cash and Receivables 


Valuation of Inventories: A Cost Basis Approach

Ch 7 pp. 313-366

 
Ch 8 pp. 367-420
Homework will be assigned at the completion of each class.

6

Apr 20

Inventories: Additional Valuation Issues 
 
Acquisition and Disposition of Property, Plant, and Equipment
Ch 9 pp. 421-470 


Ch 10 pp. 471-520
Homework will be assigned at the completion of each class.

7

Apr 27

Depreciation, Impairments, and Depletion

Intangible Assets

Ch 11 pp. 521-570


Ch 12 pp. 571-616
Homework will be assigned at the completion of each class.

8

May 4

Review homework assignments for chapters 11 & 12.  Review Chapters 7-12

Review Ch 1-12

Review notes and prior assignments.  Prepare for Final. 

8

May 4

Final Exam Comprehensive Ch 1-12

None

 

 
 
 
 

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 2008-2009 Undergraduate Catalog Page 87

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 2008-2009 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 "F".
  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 2008-2009 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 .



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:3/9/2009 2:39:27 PM