Accountancy 321 Syllabus—Spring 2010 1

`Miami University

Accountancy 321

Spring 2010

Philip G. Cottell Jr. / Office Hours:
Office: 2029 FSBl / 11:00-12:30 TTh
Office Phone: 529-6214 / 9:00-11:00 W
e-mail:
WWW:

Last day to drop this course without a grade is February 1

Last day to drop this course with a grade of “W” isMarch 25

After March 25this course may not be dropped except by petition.

Required Materials: 1. Text: Kieso, D. E., J. J. Weygandt and T. D. Warfield, Intermediate Accounting, 13th ed., Wiley.

2. “Red Book.” This may be obtained on the course Web page Bring your copy of the Blue Book to each class.

2. One pad of 8½ X 11, six column accounting paper. This will be used on occasion in class. It is required for tests. I recommend you do homework on it to familiarize yourself with its use. You may obtain accounting paper with the free down load on the course web page or you may purchase it at Wal Mart.

3. On tests you will need a calculator that has at least four-function capability and that can handle a minimum of four decimal places.

Accounting 321 Learning Objectives

(1)Establish a foundation for understanding generally accepted accounting principles:

Students will gain knowledge about the nature of accounting principles, the logic behind their development, and the conceptual issues inherent in their practical application including (but not limited to): the conceptual framework, objectives of financial reporting, qualitative characteristics of accounting information, and the measurement and recognition concepts underlying an accrual-basis accounting system.

(2)Develop technical accounting proficiency:

Students will expand their knowledge of financial accounting beyond that gained through completion of introductory coursework by recording and reporting intermediate-level transactions in accordance with authoritative standards including (but not limited to): the recognition, measurement, and disclosure of assets, liabilities, equity, revenues, expenses, gains, losses, and cash flows.

Course Outline

Meeting
Number / Date / Topic / Study Aides
1 / 1/12 / Course Introduction
2 / 1/14 / Financial Accounting and Accounting Standards / Read Kieso, Chapter 1
Work CA1-13; CA1-17
3 / 1/19 / Conceptual Framework Underlying Financial Accounting. / Read Kieso, Chapter 2
Work E2-3; E2-7; CA2-7
4 / 1/21 / The Accounting Information System / Read Kieso, Chapter 3
Work P3-1; P3-3
5 / 1/26 / The Accounting Information System / Review Kieso, Chapter 3
Work P3-4; P3-7
6 / 1/28 / Income Statement and Related Information / Read Kieso, Chapter 4
Work E4-6
7 / 2/2 / Income Statement and Related Information / Review Kieso, Chapter 4
Work E4-9; E4-13; CA4-9
8 / 2/4 / Balance Sheet and Statement of Cash Flows / Read Kieso, Chapter 5
Work E5-3, P5-5
9 / 2/9 / Cash and Receivables / Read Kieso, Chapter 7
Work E7-1: P7-3
10 / 2/11 / Cash and Receivables / Review Kieso, Chapter 7
Work P7-7
11 / 2/16 / Valuation of Inventories:A Cost-Basis Approach / Read Kieso, Chapter 8
Work P8-2; P8-3
12 / 2/18 / Valuation of Inventories:A Cost-Basis Approach / Review Kieso, Chapter 8
Work P8-8
13 / 2/23 / First Examination / Chapters1, 2, 3, 4, 5, 7, 8
14 / 2/25 / Cooperative Exam Critique / Chapters1, 2, 3, 4, 5, 7, 8
15 / 3/2 / Inventories: Additional Valuation Issues / Read Kieso, Chapter 9 (Include Appendix 9A)
P9-2; P9-4
16 / 3/4 / Inventories: Additional Valuation Issues / Review Kieso, Chapter 9
P9-7; P9-11
3/8—3/12 / Spring Break
17 / 3/16 / Acquisition and Disposition of Property, Plant and Equipment. / Read Kieso, Chapter 10
P10-3; P10-4
18 / 3/18 / Acquisition and Disposition of Property, Plant and Equipment. / Review Kieso, Chapter 10
P10-7; P10-8
19 / 3/23 / Depreciation and Depletion / Read Kieso, Chapter 11. Skip section on Impairments (pp.534-537).
Work P11-2; P11-10
20 / 3/25 / Depreciation and Depletion / Review Kieso, Chapter 11.
Work P11-12
21 / 3/30 / Current Liabilities / Read Kieso, Chapter 13
Work P13-4
22 / 4/1 /

Current Liabilities

/ Review Kieso, Chapter 13
Work P13-7; P13-12
23 / 4/6 /

Long Term Liabilities

/ Read Kieso, Chapter 14.
Work E-14-10; P14-1
24 / 4/8 / Long Term Liabilities / Review Kieso, Chapter 14.
Work P14-2; P14-5
25 / 4/13 / Long Term Liabilities / Review Kieso, Chapter 14.
Work E-14-16; P14-9
26 / 4/15 / Second Examination / Chapters 9, 10, 11, 13, 14
27 / 4/20 / Cooperative Exam Critique / Chapters 9, 10, 11, 13, 14
28 / 4/22 / Stockholders’ Equity / Read Kieso, Chapter 15
Work P15-6; P15-8
29 / 4/27 / Stockholders’ Equity / Review Kieso, Chapter 15.
Work E15-18
30 / 4/29 / Stockholders’ Equity / Review Kieso, Chapter 15
Work P15-12
31 / Final Exam Review / Time and place of review to be announced.
32 / Final Examination / Comprehensive. Time and place of the exam to be announced.