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AC 320 Intermediate Accounting I
Harrison, Kyle R.


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

F1J 2010 DN

Faculty

Harrison, Kyle

Title

Instructor/Adjunct Faculty

Degrees/Certificates

Master's in Business Administration (MBA)
BS Healthcare Management

Office Hours

Before and after class

Other Phone

816-777-8628

E-Mail

Kyle.Harrison@park.edu

kyle.harrison@cerner.com

kyle_harrison@att.net

Semester Dates

August 16, 2010 - October 19, 2010

Class Days

--T----

Class Time

5:30 - 9:50 PM

Prerequisites

AC202 (Principles of Accounting II) and CS140 (Computer Science) or equivalents

Credit Hours

3


Textbook:
Kieso, Weygandt, & Warfield. (2010). Intermediate Accounting (13th ed.). Wiley Publishing. ISBN 10: 0-470-37494-2; ISBN 13: 978-0-470-37494-8. 

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
Time value of money (TVM) computations are covered in Chapter 6 of this course, and I will be using a Texas Instruments BA II Plus financial calculator for all computations.  You do not have to purchase this calculator; however, your calculator must be capable of calculating the internal rate of return on a stream of future cash flows, and you must be able to effectively use your calculator to compute TVM problems. 

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:
Intermediate Accounting I (AC320): 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 (GAAP) applied to business problems.

Educational Philosophy:
To develop an environment that is conducive to learning, an environment that enables the learner to develop his or her true potential.  Specifically, this class teaches you to think analytically and critically; to communicate succintly and clearly; and to take ownership of your own learning.

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.


  Instructor Learning Outcomes
  1. Understand the theory, objectives and conceptual framework underlying financial statement reporting.
  2. Compute inventory valuation using FIFO, LIFO, average cost, and specific identification.
  3. Calculate end of period adjusting and/or reclassifying entries.
  4. Understand, analyze, and explain the balance sheet, income statement, and the related statement of stockholders' equity.
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:

The class assessment includes weekly homework problems and three exams.
 
Homework Problems:  Each week you will submit assigned problems covering the material for that week.  I will not be grading for accuracy but will grade you for completion of these homework assignments.  The answers to the problems will be discussed and handed out at the start of class the following week for you to make corrections and ask questions.  Homework is due each week before class.  Homework submitted after this time will not be accepted .  You should proactively make alternative arrangements to forward homework to me, if necessary.
 
Exams:  This course consists of three exams.  You will be notified in advance of changes in the material tested.  Material from the class discussions, in-class problems/questions, and homework problems will be covered in the exams.  Exams include multiple choice, problem, and short answer type questions that require application of course learning outcomes.
 
Attendance/Class Participation:   Attendance will be taken at the beginning of each class period.  You are expected to attend class and participate in class discussions.  This component is worth 10 points of your final grade, determined as follows:
 
Present < 6 times 0 Points
Present 6 times 5 Points
Present 7 - 8 times 10 Points

Grading:

Final grades are determined as follows:
 
Points %
Weekly Homework (20 pts each)  140 23.3
Exam 1 (Chaps. 2, 3, 5 & 7) 135 22.5
Exam 2  (Chaps. 8-11) 135 22.5
Exam 3  (Comprehensive; ALL Chapters) 180 30.0
Attendance/Participation 10 1.7
Total 600 100.0
 
Grades are computed using the following scale; however, I reserve the right to make adjustments:
 
Grade Percentages Points
A 90 - 100% 540 - 600
B 80 - 89% 480 - 539
C 70 - 79% 420 - 479
D 60 - 69% 360 - 419
F Less than 60% Less than 360

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:

Odd things happen in cyberspace (e.g., emails get lost, servers disconnect temporarily, logins are impossible). Please don't wait until the last moment to get things done. Allow time to meet deadlines. You are responsible for getting the work to me on time. Since you have one week to submit your assignments, no credit will be given for late submissions unless there are special circumstances. You must contact me in advance to arrange for an extension.

Classroom Rules of Conduct:
The classroom rules of conduct are as follows:  1. Respect the instructor including decisions/requirements; 2. Respect your classmates; 3. Participate in classroom discussions/exercises; 4. Take ownership and complete assignments on time; 5. Notify instructor of any possible absences or missed deadlines; 6. Silence cell phone during class and only use during class sessions if an emergency situation arises & 7. Any other rules that come up during the course of the semester.

Course Topic/Dates/Assignments:
 

Week

Date

Subject Read Assignment Due

1

8/17/10

Introduction to class and syllabus
Chapter 2 – Conceptual Framework
Chapter 3 – Accounting Information System


Ch. 2
Ch. 3

2

8/24/10

Chapter 5 – Balance Sheet

Chapter 7 – Cash and Receivables

Distribute Take Home Exam 1 (Chaps. 2, 3, 5, 7)

Ch. 5

Ch. 7

Homework #1 (chaps. 2 & 3)

3

8/31/10

Chapter 8 – Inventory Valuation

Chapter 9 – Additional Inventory Valuation Issues

Ch. 8
Ch. 9

Homework #2 (chaps. 5 & 7)

Take Home Exam 1

4

9/7/10

Chapter 10 – Property, Plant, & Equipment

Chapter 11 – Depreciation and Impairment
Distribute Take Home Exam 2 (Chaps. 8, 9, 10, 11)

Ch. 10

Ch. 11

Homework #3 (chaps. 8 & 9)

5

9/14/10

Chapter 12 – Intangible Assets

Chapter 17 - Investments

Ch. 12

Ch. 17

Homework #4 (chaps. 10 & 11)

Take Home Exam 2

6

 

 

9/21/10

Chapter 6 – Accounting and Time Value of Money

Ch. 6

Homework #5 (chaps. 12 & 17)

7

9/28/10

Chapter 4 – Income Statement

Review for Exam 3 (comprehensive; covers chapters 2-12 and 17)

Ch. 4

Homework #6 (chapter 6)
 
 

8

10/5/10

Exam 3 (comprehensive; covers chapters 2-12 and 17)

Homework #7 (chapter 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 students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2010-2011 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. from Park University 2010-2011 Undergraduate Catalog Page 92-93

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 2010-2011 Undergraduate Catalog Page 95-96

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:7/8/2010 12:42:01 PM