North Seattle Community College s7

NORTH SEATTLE COMMUNITY COLLEGE ACCOUNTING 252 INTERMEDIATE ACCOUNTING II COURSE SYLLABUS Winter 2012

COURSE DESCRIPTION

This course is the second in a series of two intermediate financial accounting courses which provide a comprehensive study of financial accounting theory and reporting. The course will concentrate on the foundations of financial accounting and include an in-depth study of generally accepted accounting principles and concepts. Emphasis will be on a deeper understanding of debt and equity financing, dilutive securities and earnings per share, investments, revenue recognition, income taxes, pensions, leases, statement of cash flow, and full disclosure in financial reporting.

The material covered in this course is tested on the Financial Accounting and Reporting (FAR) section of the Uniform CPA Exam.

INSTRUCTOR

Joe Smith Office IB 2416B Office Hours: Noon – 1 PM, Mon – Fri and by appointment Email: Please use Angel email to contact me. (If the Angel website is unavailable, you may contact me at [email protected] Office Phone: 206-934-4525

TEXTBOOK AND COURSE MATERIALS Intermediate Accounting Volumes 1 and 2, 13th Edition (Kieso, Weygandt, Warfield) ISBN 9780470423691 Angel Website: http://angel.northseattle.edu

Volume 1 covers chapters 13 & 14. Volume 2 covers chapters 15-24. COURSE OBJECTIVES Use quantitative reasoning to understand, analyze and solve accounting problems.

Identify and apply the concepts, conventions and generally accepted accounting principles underlying financial accounting and reporting.

Demonstrate competency in the application of proper accounting concepts and rules of complex accounting issues.

Develop business communication skills.

Utilize a variety of research sources to solve accounting research problems.

Interact effectively with individuals and groups in an online environment.

CLASS FORMAT

This is an online course using the Angel online learning platform. Students are expected to log into the course regularly and be attentive of announcements. It’s the student’s responsibility to be aware of what is happening in the class online. Please be attentive of announcements and discussion board postings.

Course work includes homework assignments, writing and research exercises, quizzes and exams. The use of MS Excel and Word is required for all assignments, except quizzes and exams, which are completed in Angel.

Weekly discussion forums are available for students to collaborate on assignments, ask questions, and answer questions of fellow students. Professional courtesy should be used at all times when communicating on the discussion board or through email.

Academic Collaboration and Integrity:

I encourage you to collaborate with fellow students in completing homework and spreadsheet exercises. Use the discussion room to post your questions, collaborate on completing accounting assignments, and discuss potential problem solutions.

Although I encourage collaboration on homework assignments, the quizzes and mid-terms are to be completed by you alone. Cheating and/or plagiarism on these examinations will not be tolerated on the examinations and could result in a failing grade for the course. Additional Course Related Information

I will provide additional information about the course in orientation emails and discussion room postings to students registered in the class. Circumstances may require me to make minor revisions to the above schedule. In the event I make any changes, I will advise you in a timely manner.

In my commitment to student learning I want to support all students. If you have a disability that will affect your performance in this class, please let me know. Students with disabilities are encouraged to use Disability Services for support in implementing reasonable accommodations for their disabilities. See: https://northseattle.edu/disability-services

TIME COMMITMENT

You will need about the same amount of time each week for this online class as you would need to be successful in an on campus class. The rule of thumb is three hours of study outside of class for each in- class hour. This course covers complex material that requires much reading and practice to master. It’s crucial that you devote a certain amount of time each week to complete your assignments and stay on schedule.

All homework assignments, writing exercises and quizzes must be submitted by 11:00pm on Sundays. Midterms must be submitted by 11:00pm on the Wednesday following the last chapter covered on the exam (See class schedule). Late assignments, including quizzes and exams, are not accepted. If you have a prior engagement that may result in your inability to complete a quiz or exam on time, please contact me in advance to make arrangements to complete your quiz or exam in advance.

COURSE WORK DETAILS

This course covers 12 chapters. Generally one chapter per week is covered except in week 10 when chapters 22 & 23 will be covered.

Reading: Reading assignments are specified on the schedule. Please make note when you are required to read and study an Appendix. Appendices not listed on the schedule are optional. All the material covered in the text is fair game to be tested on the CPA exam.

The CPA Exam now includes International Financial Accounting Standards (IFRS). You are strongly encouraged to read the IFRS Supplement for each chapter posted in each lesson folder.

Homework Assignments (25points): Homework assignments are worth 2.5 points each for a maximum of 25 total points for the class. Full credit is given for a good faith effort to complete each problem. Good faith effort entails completing all parts of the problem. Homework problems copied from the solution manual will not receive credit. Homework is to be submitted as one file in Excel (you may do all homework on one sheet, or use a different sheet for each problem – your preference), using the homework drop box in Angel for the applicable week. You may use the textbook provided excel templates or your own. Please note the textbook publishers do not provide templates for all problems. Solutions to the homework problems are posted in the applicable lesson folder for that homework assignment.

Brief Exercises are optional, but strongly recommended. Solutions to Brief Exercises are posted in the applicable lesson folder. In addition, you’ll find solutions to “B Exercises” in each lesson folder. “B Exercises” are found on the textbook website.

Discussion Board Postings (25 points) Please post your answers to two chapter questions per week in the Discussion board. Also please post your course questions here first. I want you all to help each other learn. So if you have questions on homework problems, accounting concepts etc. post them in the discussion boards and give your fellow students and opportunity to help. Also if you know the answers to your fellow students questions please respond in the discussion boards. We are here to help each other.

Writing Assignments (25 points): The Writing assignments consist of three one page memos worth 8 points each, and are graded on content and good form. Good form includes using complete sentences, correct spelling, proper grammar and professional presentation. Writing Assignments are to be submitted to the Memo drop box in Angel for the applicable week. Write a one page memo on articles on accounting issues you find in the business press such as the Wall Street Journal, Economist, or Fortune. The articles have to be on substantive accounting issues such as new FASB changes and their impact, accounting ethical issues and the status of US GAAP and International Financial Reporting Standards (IFRS). The memo summaries the article written from the viewpoint you are an employee highlighting this article for your company’ CFO. The memo’s due dates are on the class schedule.

Team Project (75 points): Team Corporate Research Project There is a separate attachment that describes the Team Research project. Basically you will form teams of three or four students, pick three publically traded companies within an industry, research and analyze their results and report back on your conclusion on the company’s performance and future prospects.

Quizzes (50 points): Quizzes are 20 questions each. Your lowest quiz score will be dropped. Your average score on the remaining quizzes will be multiplies by 2.5 to arrive at your class points. Quizzes are not timed, but must be completed in one sitting (in other words, you can’t do half of it, save it, and come back later). Quizzes are completed in Angel. You will receive a score after submitting the quiz, but will not be able to review the quiz questions for correct/incorrect answers until after the due date. The lowest quiz score will be dropped. Midterms (Three midterms 100 points each): Midterms are not timed and must be done in one sitting, similar to quizzes. Midterms are completed in Angel. You will receive a score after submitting the Midterm, but will not be able to review the questions for correct/incorrect answers until after the due date. Each midterm will cover 4 chapters.

Grading Max points Homework Assignments 25 Discussion Room Postings 25 Writing Assignments - three memo’s 25 Team Project 75 Quizzes 50 Midterm 1 100 Midterm 2 100 Midterm 2 100 Total Points 500

Your class points as a percentage of the maximum class points will be converted to a decimal grade corresponding to the following: 96 - 100 4.0 79 2.3 95 3.9 78 2.2 94 3.8 77 2.1 93 3.7 76 2.0 92 3.6 75 1.9 91 3.5 74 1.8 90 3.4 73 1.7 89 3.3 72 1.6 88 3.2 71 1.5 87 3.1 70 1.4 86 3.0 69 1.3 85 2.9 68 1.2 84 2.8 67 1.1 83 2.7 66 1.0 82 2.6 65 0.9 81 2.5 64 0.8 80 2.4 63 0.7 62 and 0.0 below