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AC 420 Advanced Accounting I
Palumbo, Raphael J


Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

AC 420 Advanced Accounting I

Semester

S1D 2012 DA

Faculty

Palumbo, Raphael J

Title

Adjunct Professor

Degrees/Certificates

BS, MBA, DBA
CPA, CLU, ChFC

Office Location

Virtual

Office Hours

Before or After Class or by Appointment

Daytime Phone

520-877-2640

E-Mail

raphael.palumbo@park.edu

Semester Dates

01/16/12 - 03/11/12

Class Days

W

Class Time

4:45 PM - 10:10 PM

Prerequisites

ACAC309, AC320 and CS140 or equivalents

Credit Hours

3


Textbook:

Fischer, Cheng & Taylor
Advanced Accounting 10e
isbn# 10: 0-324-37905-6
South-Western Publishing

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/.

http://www.aicpa.org
http://www.irs.gov

Course Description:
AC420 Advanced Accounting I: Continuation of AC325. Selected topics in advanced financial accounting with emphasis on current accounting problems and pronouncements of the Financial Accounting Standards Board. Prerequisite: AC325 and CS140 or equivalent. 3:0:3

Educational Philosophy:
To foster a learning environment that helps the student to realize his/her potential.  In this accounting course we will discuss topics as a group and work out homework problems as a group.  The student will complete the problems outside of the course and bring solutions to the class so that we can all intelligently work through the problems. Students will demonstrate their learning through examinations and class participation.  Students are encouraged to bring new ideas to the course.

Learning Outcomes:
  Core Learning Outcomes

  1. Construct corporate consolidated financial statements.
  2. Prepare elimination entries for inter-company transactions.
  3. Apply consolidation theory and be able to explain concepts and methods.
  4. Analyze international accounting standards and the status of convergence of such standards.
  5. Record business transactions and translate currencies for international organizations.


Core Assessment:

Description of the Core Assessment Instrument Final Exam  

This assessment is designed to assess primarily Core Learning Outcomes #1 - #5 and will make up 30% of the course grade.

Link to Class Rubric

Class 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.

Grading:

Mid-Term Exam

75

Final Exam

100

Project

75

Assignments

50

Total

300

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:
Late submission of work will have points deducted,

Classroom Rules of Conduct:

1) No make-up exams except for documented emergencies!

2) No late assignments will be accepted! Homework assignments are due at the

     beginning of class on the due date.

3) Any exams or assignments that appear to be the same as that of any other student will

     result in a grade of zero for both students. Independent work on assignments is  

     critical if the student is to understand the concepts and applications presented in this

     course.

4) In all written assignments, good grammar, spelling and style are expected and will

     affect your grade. This includes the written portions of all exams.

5) You are expected to come to class prepared to discuss the assigned material. You are

      responsible for determining what was missed in the event of an absence.

6) Except for police, fire, medical and other emergency personnel (and with the

      Professor’s prior approval) all cell phones, beepers, pagers and other electronic

      devices will remain in the OFF position during class. Any student having an

      electronic device sound in class will lose 10 points off the final exam score per

      occurrence.

Course Topic/Dates/Assignments:

Week 1     
01/18/2012
Introduction/Chapter 13/New Business Forms/Business Plans
Week 2
01/25/2012
Chapter 14
Week 3
02/01/2012
Chapter 14/Discuss Project/Review for Mid-Term Exam
Week 4
02/08/2012
Mid-Term Exam
Week 5
02/02/2012
Chapters 9 & 10
Week 6
02/22/2012
Chapters 11 & 12
Week 7
02/29/2012
Chapters 20 & 21; Finish Project
Week 8
03/07/2012
Final Exam - Comprehensive
 
Instructor reserves the right to make changes to this schedule as needed.

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 2011-2012 Undergraduate Catalog Page 93

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 2011-2012 Undergraduate Catalog Page 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 2011-2012 Undergraduate Catalog Page 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)
Core Learning Outcome #1 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Construct corporate consolidated financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                               
Student correctly prepares consolidated financial statements for entities in accordance with Generally Accepted Accounting Principles. Student prepares consolidated financial statements for entities but statements may not be in accordance with Generally Accepted Accounting Principles. Student is not able to prepare consolidated financial statements in accordance with Generally Accepted Accounting Principles.  
Core Learning Outcome #2 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Prepare elimination entries for inter-company transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                          
Student correctly and consistently prepares intercompany transactions as eliminating entries for GAAP financial statements. Student prepares intercompany transactions but they may not be GAAP based. Student is unable to prepare intercompany transactions and eliminating entries for GAAP financial statements.  
Core Learning Outcome #3 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Apply consolidation theory and be able to explain concepts and methods.                                                                                                                                                                                                                                                                                                                                                                                                                                              
Student correctly calculates and applies consolidations theory and methods to the preparation of consolidated financial statements. Student correctly calculates financial statements but may not apply consolidations theory and methods to the preparation of consolidated financial statements. Student is unable to apply consolidations theory and methods to the preparation of consolidated financial statements.  
Core Learning Outcome #4 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Analyze international accounting standards and the status of convergence of such standards.                                                                                                                                                                                                                                                                                                                                                                                                                          
Student correctly identifies international accounting standards and relates to the status of convergence of world-wide accounting standards. Student identifies international accounting standards generally but is unaware of the status of convergence of world-wide accounting standards. Student is unable to identify international accounting standards and cannot relate to the status of convergence of world-wide accounting standards.  
Core Learning Outcome #5 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Record business transactions and translate currencies for international organizations.                                                                                                                                                                                                                                                                                                                                                                                                                               
Student correctly records business transactions and translates currencies in international commerce. Student records business transactions but makes errors in the translation of currencies in international commerce. Student is unable to record business transactions nor translate currencies for international business transactions.

 
 

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Last Updated:12/6/2011 8:52:02 AM