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AC 430 Auditing
Repp, David G.


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 430 Auditing

Semester

F1FF 2009 FAI

Faculty

Repp, David G.

Title

Senior Instructor of Accounting

Degrees/Certificates

President and CEO-Cool Accounting Beans Tutoring
Masters in Business Administration
CPA-Certified Public Accountant-Inactive

Office Location

Spokane, Washington

Daytime Phone

509-230-3505

E-Mail

david.repp@pirate.park.edu

Semester Dates

8/17/2009 to 10/11/2009

Class Days

----R--

Class Time

3:15 - 4:45 PM

Credit Hours

3


Textbook:
Whittington and Pany, Principles of Auditing, 15th edition, New York: McGraw
Hill/ Irwin, 2006. ISBN: 0073010847

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:
AC430 Auditing: A study of auditing theory and procedures, the development and use of internal controls, and the ethical and professional standards of an independent professional accountant. Prerequisite: AC325 and CS140 or equivalent. 3:0:3

Educational Philosophy:

I am committed to creating a positive environment conducive to learning at Park University  The following characteristics constitute my educational philosophy: Excellence:  I believe that all students have a right to expect excellence in academic instruction.  By providing instruction using the latest equipment and the most up-to-date software and educational technologies, I will prepare students for today's business field. Accessibility:  I believe that all students have a right to receive opportunities for higher education, including opportunities for individual growth, professional development, and academic achievement.  All students should be provided equal opportunities in receiving help that will motivate and assist them in defining and achieving their educational goals. Responsibility:  I believe that I am accountable to my students, the community, and to society for accomplishing its goals within the constraints of the college mission and its resources. Professionalism:  I believe that I should serve as an example of professionalism, which my students can follow.  I feel that my actions, speech, and values should be of the highest standard in dealings within the educational environment.


Learning Outcomes:
  Core Learning Outcomes

  1. Review, analyze and test internal controls.
  2. Complete an audit of a fictitious corporation.
  3. Write an audit plan.
  4. Prepare adjustments of accounts.
  5. Write audit reports.
  6. Prepare audit schedules and working papers.


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:
3 Quizzes (20 pts ea)  
Homework (10 points each week)
3 Exams (100 points each)

Grading:

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:
You will be expected to submit all of your work on time. All assignments are due by midnight Mountain Time on the established suspense date as designated in this syllabus. Any assignment that is turned in late will be docked 50% of the total points available. Any late assignment must be submitted within two days of the original suspense. Failure to submit the assignment within two days of the original due date may result in the assignment not being accepted.

Late assignments will be accepted only in cases of emergency and only if the student notifies the instructor and the instructor approves the submission of the late work.

Classroom Rules of Conduct:
Each of you needs to actively participate in discussions relating to the subject materials for each week for full participation credit and to make this class an enjoyable learning experience for us all.  

In an intensive, collaborative learning environment such as that of Park University, class attendance is perhaps the most obvious and objective starting point measure for participation. If you are not in attendance, you miss out on many opportunities for learning. Because of this, if you miss class, you will not receive participation points for that workshop week.

During each workshop week, you are expected to be actively engaged in the activities and discussions. During online workshop weeks, you must contribute to your assigned main newsgroup discussions in a substantive manner each week to earn 100% of the participation grade points for the workshop. As the instructor for the course, I will take both the quantity and content of your messages to your assigned main discussion thread into account to determine your weekly online workshop participation grade.

Course Topic/Dates/Assignments:
Class Activities Assignments
Week One Chapter 1 - The Role of the Public Accountant in the American Economy

1 Chapter 2 - Professional Standards Homework   Due: 1-2, 1-3, 1-10
2 Chapter 3 – Professional Ethics Homework Due: 2-1, 2-5, 2-10,
2 Chapter 4 – Legal Liabilities
Exam 1 Homework Due:  3-1, 3-3, 3-15,
3 Chapter 5 – Audit Evidence and Documentation
Quiz 1: Chapters 1-4 Homework Due:  4-1, 4-2, 4-6
3 Chapter 6 – Planning the Audit-Designing Audit Programs Homework Due:  5-1, 5-2, 5-6
4 Chapter 7 – Internal Control
Quiz 5-7 Homework Due: 6-3, 6-5, 6-6,
4 Chapter 8 – Consideration of Internal Control in an Information Technology Environment Homework Due: 7-2, 7-3, 7-9,
5 Chapter 9 – Audit Sampling

Homework Due:  8-1, 8-3, 8-8
5 Chapter 10 – Cash and Financial Investments
Exam 2 Homework Due:  9-1, 9-2, 9-5,
6 Chapter 11 – Accounts Receivable, Notes Receivable, and Revenue Homework Due: 10-1, 10-4, 10-10,
6 Chapter 12 – Inventories and Cost of Goods Sold
Quiz 3: Chapters 8-16 Homework Due: 11-1, 11-2,
7 Chapter 14 – Accounts Payable and Other Liabilities Homework Due: 12-1, 12-3,
7 Chapter 16 – Auditing Operations and Completing the Homework Due:  14-1, 14-3,
8 Chapter 17 – Auditors' Reports
Final Exam
Homework Due:  16-1, 16-4

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 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
1,2,3,4,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 100-80 % Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 60-79% Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 50-59% Evaluate and define the audit procedure(s) in order to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q1, Q4, Q8, Q12, Q15 Less than 50%
 
Synthesize data to produce a logical flow of informational reporting per established accounting rules and standards outcome(s):                                                                                                                            
Outcomes
1,2,3,4,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 100-80 % Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 60-79% Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 50-59% Formulate the correct and ethical auditing procedures for given accounting transactions in order to prepare an audit report per Generally Accepted Auditing Standards and Sarbanes Oxley Q3, Q6, Q7, Q11, Q14 Less than 50%
 
Analysis  of transactional data  outcome(s):                                                                                                                                                                                                               
Outcomes
1,2,3,4,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Analyze accounting transactions and apply audit procedures to conduct an audit per Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13 100-80 % Analyze accounting transactions and apply audit procedures to conduct an audit per  Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13 60-79% Analyze accounting transactions and apply audit procedures to conduct an audit per  Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13 50-59% Analyze accounting transactions and apply audit procedures to conduct an audit per  Generally Accepted Auditing Standards and Sarbanes Oxley Q2, Q5, Q9, Q10, Q13  Less than 50%
 
Application of established rules and logic per regulatory and commercial standards outcome:                                                                                                                                                                
Outcomes
5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18 100-80 % Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18 60-79% Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18  50-59% Demonstrate and interpret accounting data and auditing procedures in order to write an audit report per Generally Accepted Auditing Standards Q16, Q17, Q18 Less than 50%
 
Content of Communication written essay outcome:                                                                                                                                                                                                            
Outcomes
3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to writing an audit plan 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 writing an audit plan 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 writing an audit plan 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 writing an audit plan Question 20 Less than 50%
 
Technical Skill in Communicating written essay outcome:                                                                                                                                                                                                    
Outcomes
5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 100-80 % Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 60-79% Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 50-59% Demonstrate the knowledge and skill to evaluate, apply and discuss writing an audit report Question 19 Less than 50%
 

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Last Updated:7/17/2009 4:19:10 PM