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AC 430 Auditing
Carlson, Greg C.


COURSE SYMBOL AND NUMBER: AC 430

COURSE TITLE: Auditing

SEMESTER/TERMCOURSE BEING TAUGHT: Independent Instruction

NAME OF FACULTY MEMBER: Greg Carlson

TITLE OF FACULTY MEMBER: Adjunct Instructor, Certified Public Accountant

FACULTY OFFICE LOCATION: Building 1294, Hill Air Force Base

FACULTY OFFICE HOURS: 4:00 to 4:30 Monday-Thursday

FACULTY OFFICE/HOME TELEPHONE NUMBERS: (801) 775-3615 (801) 476-1289

FACULTY PARK EMAIL ADDRESS: greg.carlson@hill.af.mil

OTHER FACULTY EMAIL ADDRESS:

FACULTY WEB PAGE ADDRESS: NA

DATES OF THE SEMESTER/TERM:

CLASS SESSION DAYS:

PREREQUISITES: AC 325 and CS 140 or equivalents

CREDIT HOURS: 3 hours



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 criticality, 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 DESCRIPTION: 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.

FACULTY'S EDUCATIONAL PHILOSOPHY: The course will consist of lectures, discussion, problem solving, and examinations. Students are encouraged to interact sharing their own ideas and experiences.


COURSE OBJECTIVES: The students are expected to understand the fundamentals of financial accounting and be familiar with generally accepted accounting principles. The course will cover the following topics: role of the auditor, professional ethics, generally
accepted auditing standards, audit planning, internal control review, audit evidence, working papers, audit programs, procedures used to audit specific accounts, and audit reports.

COURSE TEXTBOOKS: Whittington, Ray and Pany, Kurt; Principles of Auditing; 14th Ed.; New York, N.Y.; McGraw-Hill, Irwin; 2004


ACADEMIC HONESTY: "Academic Honesty is required of all members of a learning community. Hence, Park will not tolerate cheating or plagiarism on tests, examinations, papers, or other course assignments. Students who engage in such dishonesty may be given failing grades or expelled from Park."

PLAGIARISM: "Plagiarism-the appropriation or imitation of the language or ideas of another person and presenting them as one's original work---sometimes occurs through carelessness or ignorance. Students who are uncertain about proper documentation of sources should consult their instructors."

ATTENDANCE POLICY: Instructors are required to keep attendance records and report absences. The instructor may excuse absences for cogent reasons, but missed work must be made up within the term of enrollment. Work missed through unexcused absences must also be made up within the term of enrollment, but unexcused absences may carry further penalties. In the event of two consecutive weeks of unexcused absences in a term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F". An incomplete will not be issued to a student who has unexcused or excessive absences recorded for a course. Students receiving Military Tuition Assistance (TA) or Veteran's Administration (VA) educational benefits must not exceed three unexcused absences in the term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student. Reports of F grades (attendance or academic) resulting from excessive absence for students receiving financial assistance from agencies not mentioned above will be reported to the appropriate agency.

LATE SUBMISSION OF COURSE MATERIALS: Course assignments submitted after the specified due date will not be accepted unless due to an excused absence and coordinated with and approved by the instructor.

COURSE ASSESSMENT: Examinations and chapter problems.

CLASSROOM RULES OF CONDUCT: Homework problems are expected to be legible and in the proper format regardless if prepared manually or using a computer. Students should
Maintain copies of their graded assignments in the event the instructor inadvertently fails to record the graded result.


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 and, to the extent 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: www.park.edu/disability.

COURSE TOPICS/DATES/ASSIGNMENTS

Date Chapter(s) Topic Homework
10 November 1 & 2 Auditor’s role, standards (1) 2, 12, 27, 28
10 November 2 & 3 Professional ethics (2) 1, 7, 29 (3) 7, 15,
25, 28
10 November 5 Evidence and Documentation 6, 14, 20 ,25, 45
10 November 6 Audit planning 1, 6, 36
21 January 7 Internal control 2, 28, 33
10 November 1-6 Exam 1
30 November 8 & 9 Computer & Sampling (8) 14, 31
30 November 9 &10 Cash and securities (9) 41 (10) 13, 21, 37
30 November 11 Accounts/ notes receivable 6, 17, 38
30 November 12 Inventories 7, 19, 26, 32
17 December 13 & 14 Plant/equipment & Liabilities (13) 13, 16, 18, 31
30 November 7-12 Exam 2
17 December 14 & 16 Completing the Audit (14) 3, 18, 34 (16) 1, 4, 19, 34
17 December 17 Auditor’s Report 7, 14, 25
17 December 20 Internal/Operational Audits 39
17 December 13-20 Exam 3

GRADING PLAN: The final grade will be determined using the following measurements:
Exam 1 25%
Exam 2 25%
Exam 3 25%
Homework 25%

The midterm exam will cover all assigned reading in chapters 1 through 10. The
final exam is not comprehensive and will cover material in chapters 11 through
20.

The following will be used to assign course letter grades
90-100 ..........................A
89-90 ..........................B
70-79 ..........................C
60-69 ..........................D
Below 60 ......................F (or three or more unexcused absences)
.