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AC 430 Auditing
Colter, Gerald R.


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 430 Auditing

Semester

F2HH 2012 PA

Faculty

Colter, Gerald R.

Title

Adjunct  Senior Instructor

Degrees/Certificates

Master of Management - Troy State University
B.S. Accounting - Illinois Wesleyan University
Certified Public Accountant

Office Location

TBD

Office Hours

By Appointment

Daytime Phone

937-626-2957

Other Phone

937-626-2957

E-Mail

Gerald.Colter@Park.edu

Semester Dates

October 22, 2012 - December 16, 2012

Class Days

--T----

Class Time

5:30 - 10:30 PM

Prerequisites

AC 425

Credit Hours

3


Textbook:

Ray Whittington/Kurt Pany.  Principles of Auditing & Other assurance Services, McGraw-Hill Irwin, 18th edition, ISBN 13:9780077486273

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
Internet, periodicals, and newspapers

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:
 To foster a learning environment that enables the learner to realize his/her greatest potential. Specifically, this class teaches the learner to think critically; to communicate clearly; and to take ownership for his/her learning.  The instructor's educational philosophy is based on student participation which is based on lectures, readings, quizzes, dialogues, examinations, internet, and writings.  The instructor will encourage each learner to explore new ideas, issues, and contradictions.

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:

This course will cover Chapters as assigned in the course topic schedule below. 

Students will be expected to have read and studied the material assigned for that class and have completed the assigned homework problems.

The will be two examinations, assigned homework, and one paper assignment.  Examinations will be graded on 100 points each and the paper will be worth 100 points--75 for writing and 25 for presentation.
1.  Frist test 30% 
2.  Homework 20%
3.  Paper & Presentation 20%
4.  Final exam 30%

Grading:

Course grades will be based on an average percentage, as follows:
                          Points             Percent of Grade
A.  Exam 1:      300 points       30% 
B.  Paper:         200 points       20% 
C.  Homework: 200 points       20% 
D. Final             300 points       30%
TOTAL            1,000 points     100%

This course grade distribution is as follows:

A = 90% to 100%      
B = 80% to 89.9%     
C = 70% to 79.9%     
D = 60% to 69.9%     
F = less than 60%      
All final grade percentages will be rounded to one decimal point.

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:
 A.  Examinations are announced well in advance and it is the Students' responsibility to know when exams are scheduled and make special arrangements PRIOR TO THE EXAM if they will be unable to attend.  Makeup exams will be allowed, without penalty, only if the situation warrants and only if PRIOR arrangements have been made with the instructor.  If you have an unexcused absence resulting in you missing an exam, the exam must be made up the following week.  In addition, your test score will be reduced by ten (10) percentage points.  These requirements are imposed to protect the validity of the evaluations and to enhance the objective of timeliness, which is of major importance in Accounting.
 
B.  The paper assignment/presentations must be submitted on or before the beginning of the class on the assigned due date.  Ten (10) percentage points will be deducted for each calendar day the assignment is late.  The instructor, at his/her sole discretion, may choose to amend this policy in certain cases to accommodate extenuating circumstances. Assignments submitted for grading will be returned within one week of the due date.  

C.  All assigned homework will serve as bases for discussion in class. Ten (10) percentage points will be deducted for each calendar day the assignment is late.   It is important to note that it is virtually impossible to understand auditing as it works in the real world, without performing problems in a classroom situation.  Reading the book without performing the homework will not result in your learning auditing.  

Classroom Rules of Conduct:
The student is expected to participate in class discussion and to show respect to fellow students and to the instructor.

Course Topic/Dates/Assignments:
 

Week    Date Chapter Homework Assignments
1    Class 1 1 1, 2, 5, 6, 11, 15, 16, 29, 31
Class 1 2 3, 6, 8, 10, 15, 25, 32, 36
2 Class 2 17 2, 3, 5, 6, 12, 13, 16, 17
Class 2 3    1, 7, 8, 9, 10, 17, 18, 19, 21, 22, 23
3 Class 3 4 1, 3, 18, 19, 20, 33, 35, 36, 38
Class 3 5 6, 9, 11, 13, 17, 20, 26, 27, 28, 51, 57, 58
4 Class 4 6 1, 3, 5, 8, 12, 16, 18, 22, 40, 45
Class 4 7 4, 5, 10, 11, 13, 14, 17, 18, 20
Class 4 9 1, 4, 15, 16, 31, 40, 42, 48
5 Class 5 ------- Mid-Term
Class 5 10

1, 3, 7, 10, 11, 12, 13, 16, 18, 24,  35, 38, 39

6 Class 6 11

2, 6, 7, 11, 13, 15, 18, 19, 23, 26

Class 6 12 1, 7, 10, 16, 17, 20, 22, 24, 25, 29
7 Class 7 13 3, 4, 9, 10, 15, 16, 25, 35, 36, 37
Class 7 14 1, 2, 6, 11, 13, 17, 24, 31, 35, 37, 41
8 Class 8 ------- Final Exam            
Class 8 ------- Paper Presentations

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 95-96

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 95

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 98

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:9/22/2012 12:08:27 PM