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AC 430 Auditing
Emanuel, Antonio 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

S1DD 2013 DC

Faculty

Emanuel, Antonio R.

Title

MBA

Office Location

DSCC, Building 11

Office Hours

Before or after class

Daytime Phone

614-251-4559

Other Phone

614-329-1206

E-Mail

Antonio.Emanuel@Park.edu

Semester Dates

14 January to 10 March 2013

Class Days

Wednesday

Class Time

5:00 - 10:45 PM

Prerequisites

AC 325 and CS 140 or equivalents

Credit Hours

3


Textbook:

Principles of Auditing & Other Assurance Services, Whittington & Pany, 18th edition. McGraw-Hill Irwin Publishing  ISBN 9780078111037

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:

 A study of Auditing theory and proceedures, the development and use of internal controls, and the ethical and professional standards of an independent professional accountant. 3:0:3

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:

We will use a variety of assessment instruments: homework, attendance, discussion, research paper, presentation, and exams.  
In this course you will be required to write a research paper that will follow the MLA format. this paper will be at least 8 pages of content and at least 4 outside sources. Along with the research paper you will be required to prepare and deliver a verbal presentationof your topic. This presentation must be between 7 to 10 minutes in length and must incorporate power point slides, no exception. This verbal presentation will be graded on the time and content of the material.
This paper and presentation must cover material contained in Part 2 of your text. In other words you will limit the topic to the material covered from Chapter 9 up to and including Chapter 12. If you do not know how to use Power Point, I suggest that you start early and experiment with this software, it is not difficult.

Grading:

Homework                            30% of overall grade
Attendance                            10% of overall grade
Mid-term                               30% of overall grade
Final                                      30% of overall grade
   Total                                 100%
 
90 - 100%      A
80 - 89%        B
70 - 79%        C
60 - 69%        D
59 and below  F
 

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:
There will be no late submission of course material. Upon entering the classroom, learners will drop off their assigned problems with the instructor and use a copy to work with during the review. Since we do review all homework and since the answers will be revealed, turning in homework once this process has been completed compromises the integrity of the course and the grading structure. Students should email or fax the assigments in prior to the start of class if they are to be considered for full credit.
Please regard this as static and there can be no exceptions. I realize that you may leave your work at home of forget it, we are all human, however, no exception will be made concerning the grading policy.

Classroom Rules of Conduct:

Class start time is 5:00 Sharp. We will start at 5:00 and you will be responsibile for missed material
Cell phones must be turned off.
Food and beverages are not permitted. This is the policy of DSCC
Only one conversation at a time.
Respect fellow students and the instructor. To gain respect, you must give respect.
All homework assignments are to be submitted on time; no exceptions

Course Topic/Dates/Assignments:

 
Week

Chapters

Subject

What to expect

#1

1, 2

and

4

Review syllabus; Introduction

TheRole of the Public Accountant in the American Economy
Professional Standards
Legal Liability of CPA's

Lecture, problems

#2

6, 5

and

7

Audit Planning, Understanding the Client, Assessing Risks, and Responding
Audit Evidence and Documentation
Internal Control

 

Lecture, problems

#3

8, 9

and

10

Consideration of Internal Control in an Info Tech Environment
Audit Sampling
Cash and Financial Investments  

Lecture, problems

#4

11 &

12

Accounts Receivable, Notes receivable, and Revenue
Inventories and Cost of Good Sold

Lecture, Problems, Discussion

#5

13 14 & 15

Property, Plant, and Equipment: Depreciation and Depletion
Accounts Payable and Other Liabilities
Debt and Equity Capital

Lecture, Problems, exam

#6

15, 16 & 17

Debt and Equity Capital
Auditing Operations and Completing the Audit
Auditors' Reports

Lecture, problems,

#7

18 & 21

Integrated Audits of Public Companies
Internal, Operational, and Compliance Audits

Lecture, problems

#8

3

Professional ethics

FINAL EXAM (Comprehensive)

Discussion, Final Exam

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:12/30/2012 3:54:05 AM