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AC 425 Advanced Accounting II
Lampton, Jolene A.


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

S2A 2010 BE

Faculty

Lampton, Jolene A.

Title

Assistant Professor of Management Accounting

Degrees/Certificates

Ph.D. Higher Education
MBA (specialization in Finance); CPA - licensed in Texas and Missouri
BSE Business Education

Office Location

Austin Campus

Office Hours

Monday/Wednesday 3 - 5 or upon request

Daytime Phone

512-385-7275 (office)

Other Phone

512-338-8155 (home)

E-Mail

jolene.lampton@park.edu

jlampton@att.net

Semester Dates

March 15 - May 8, 2010

Class Days

-M-W---

Class Time

5:10 - 7:50 PM

Prerequisites

AC420 and CS140

Credit Hours

3


Textbook:

Advanced Accounting, 10e
 
by Fischer/Taylor/Cheng
Published by Southwestern Cengage
ISBN 13: 978-0-324-37905-1

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

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:
AC425 Advanced Accounting II: Continuation of AC420. Course includes consolidated financial statements, and fund accounting. Prerequisite: AC420 and CS140 or equivalent. 3:0:3

Educational Philosophy:
Insatructor will provide help and guidance as warranted.  Students are expected to read the chapters, work the problems, prepare for each class, take exams; complete homework, etc.  Students should request extra help if needed, and instructor will find a way to provide resources needed to master the subject.  Instructor is available during office hours or upon request; of course, by email.

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:

Class preparation and attendance, homework problems, examinations (mid term and final), case studies analysis and presentation.

Grading:

5 Homework problems/exercises @ 20 points each                        100 points
Attendance, preparation for class, and participation                         100 points
Research Projects/Case Studies 2 @100 points                              200 points
Mid Term (Ch. 1 - 8) Consolidations                                              300 points
Final (Ch. 15 - 18) Fund Accounting                                               300 points
Total                                                                                               1,000 points

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 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.

Late Submission of Course Materials:
Upon permission of instructor.

Classroom Rules of Conduct:
Professional demeanor expected.

Course Topic/Dates/Assignments:

#1 Chapter 1 - Business Combinations:  America's Most Popular Business Activity, Bring an End to the Controversy
 
Understanding the Issues 1 - 8
Exercise 3
Exercise 9
Exercise 1A-1
Problem 1-2
 
#2 Consolidated Statements:  Date of Acquisition
 
Understanding the Issues 1 - 7
Exercise 1
Exercise 2
Exercise 4
Problem 2-1 Homework
Problem 2-5
 
#3  Chapter 3 Consolidated Statements:  Subsequent to Acquisition
 
Understanding the Issues 1 - 8
Exercise 3
Exercise 4
Exercise 7
Problem 3-1
Problem 3-5 Homework
 
#4 Chapter 4 Intercompany Transactions:  Merchandise, Plant Assets, and Notes
 
Exercise 1
Exercise 3
Exercise 5
Problem 4-1
Problem 4-2
 
#5 Intercompany Transaction:   Bonds and Leases
 
Understanding the Issues 1 - 7
Exercise 3
Problem 5-1
 
 
#6 Case Studies:  Select Case 5-1, Case 5-2 or Case 5-3; Group Activity - Project
 
Chapter 6 Cash Flow, EPS, Taxation, and Unconsolidated Investments
Understanding the Issues 1 - 11
Exercise 2
Exercise 9
 
 
#7
 
Chapter 6, continued Problem 6-1
 
Chapter 7 - Special Issues in Accounting for an Investment in a Subsidiary
 Exercise 1
Exercise 4
Exercise 5
Problem 7-5
Problem 7-6 Homework
 
 #8 Chapter 8 Subsidiary Equity Transactions; Insirect and Mutual Holdings
 
Understanding the Issues 1 - 5
Exercise 1
Exercise 2
Exercise 4
Problem 8-1
Problem 8-2
 
#9 Review for Mid Term (Consoliations) Chapters 1 - 8
 
#10 Mid Term Exam
 
#11 Chapter 15 Governmental Accounting:  The General Fund and the Account Groups
 
Understanding the Issues 1 - 7
Exercise 1
Exercise 2
Exercise 3
Exercise 8
 
 #12
 
Problem 15-1 Homework
Problem 15-5
Chapter 16 Governmental Accounting:  Other Governmental Funds, Propriety Funds, and Fiduciary Funds
Understanding the Issues 1 - 12
Exercise 1
Exercise 2
Exercise 4
 
 
#13
 
Problem 16-4 Homework
Chapter 17 Financial Reporting Issues
Understanding the Issues 1 - 6
Exercise 1
Exercise 2
Exercise 3
Exercise 4
Exercise 6
 
#14 Problem 17-2 - Research Project
 
Chapter 18 Accounting for Private Not-for-Profit Organizations
Understanding the Issues 1 - 6
Exercise 1
 
#15 Chapter 18, continued
 
Exercise 2
Exercise 3
Exercise 4
 Review for Final Exam
 
#16 Final Exam Chapters 15 - 18
 
Research Projects:  Do problems as instructed; one as a group, one individually.  Prepare visual aid to present and explain to class.  Write up problem/project/case study to submit for points - 100 points.  Supplement with literature/research as appropriate.

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 2009-2010 Undergraduate Catalog Page 92

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 2009-2010 Undergraduate Catalog Page 92

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 2009-2010 Undergraduate Catalog Page 95

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 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:2/15/2010 2:41:51 PM