ACT2291 Principles of Accounting I

ACT2291 Principles of Accounting I



Intermediate Accounting II - ACT 3392

SUMMER 2011Section TBWA

Instructor:Dr. Rick Turpin

Office hours:Mondays & Tuesdays:8:30 – 10:00 & 1:30 – 4:00

Wednesdays :9:00 – 10:00 & 1:30 – 2:30

Also, by appointment

Office location:201 McCarthaE-mail address:

Office phone #s:334-808-6353334-670-3136 (Secretary)

Classroom location & time:Patterson 305MTW&TH10:30 am – 12:50 pm

Prerequisites:ACT 3391 (Note – accounting majors must complete this course with a grade of C or better.)

Description: Accounting 3392 is the second of two courses in Intermediate Accounting. It will continue the course of study that you started in ACT 3391. It is designed to build on the knowledge that you mastered in your principles classes and in ACT 3391. It will deal with issues regarding debt and equity financing of an entity, long-term investments, leases, income taxes, pensions and other compensation issues, earnings per share calculations, analysis of financial statements, and other complex accounting issues. Accounting 3392is required for all accounting majors.

Objectives: Upon completing the course, you should be able to:

  1. analyze and record complex business transactions associated with operating, financing, and investing activities of business entities
  2. apply professional accounting standards to revenue recognition;
  3. calculate and report EPS information;
  4. account for and report on accounting changes and errors;
  5. prepare a statement of cash flows.

Required Materials:

  1. Kieso, Weygandt, and Warfield, Intermediate Accounting (13thedition), Wiley. Please bring your textbook to class.
  2. WileyPlus. At the University bookstore, the text is bundled with WileyPlus. A code is included in your purchase of WileyPlus. If you opt to acquire an unbundled text, purchase WileyPlusfrom Wiley. I will provide you with the appropriate url number that you will need for WileyPlus.
  3. Course handout – the handout is available in the course documents section of blackboard. Please bring your course handout to class.
  4. A calculator. Please bring your calculator to class.

GradeDetermination: Your course grade will be determined on the basis of the points that you earn on your homework assignments and your examinations. To determine your letter grade, I will take the total points that you earn and divide that total by 870 points. Letter grades will be assigned using the following traditional scale:

A90 – 100%

B80 – 89%

C70 – 79%

D60 – 69%

F59% and below

Homework: Homework assignments will be worth 230 points. I will not accept late homework. You can work on homework assignments individually or in groups. Some homework assignments will be referred to as “traditional homework” assignments. These assignments will be available on blackboard. Due dates for these assignments will be indicated on blackboard. Other homework assignments will be referred to as “WileyPlus homework” assignments. These assignments will be available only through WileyPlus. Due dates for these assignments will be indicated on WileyPlus.

Examinations: Examination dates are indicated on the syllabus. There will be two interim-term examinations and one comprehensive final examination. Each interim-term examination will be worth 185 points while the comprehensive final examination will be worth 270 points. The format for each examination will be a combination of multiple-choice questions, problems, and short-answer questions. Programmable calculators (those that can store text) are not permitted while taking any examination.

Class Procedure: Class will be a mixture of lecture and discussion. Your participation in the class discussion is encouraged. You should read the appropriate chapter(s) prior to coming to class.

Attendance Policy: I recommend you attend each scheduled class because exam questions will include material that is not in the text but that was discussed in class. In addition, I recommend you not be late for any class! In registering for classes at Troy, you accept responsibility for attending scheduled class meetings. It is your responsibility to drop the course according to University policy.

Inclement Weather and Emergency Situations: Both you and I are responsible for meeting during all assigned classes. In the event of inclement weather, we will be expected to attend class as usual as long as we may do so without risking peril to ourselves or to others. During periods of inclement weather, we will not be penalized for absences dictated by perilous conditions. In severe cases of inclement weather or other emergency conditions, the University will announce cancellation of classes through the local and regional media as well as through the University’s web site.

Make-up Work Policy: If you will miss an examination because of a University-approved function, I will allow you to take a make-up examination on a predetermined date. Please give me advance notice of your pending absence. If you miss an examination for any other reason, e.g., illness, you can take a make-up examination on Dead Day or on some other predetermined date. You will receive a zero grade for any missed examination.

Incomplete grade policy: Missing any part of the course schedule may prevent you from completing the course. If you foresee any difficulty, e.g., an illness, employment change, etc., that may prevent you from completing any portion of this course, notify me as soon as possible. If circumstances will prevent you from completing the course by the end of the semester, you should complete a request for an incomplete grade. Note that a grade of incomplete or “INC” is not automatically assigned to you. Rather, you must request a grade of “INC” by submitting a Petition for and Work to Remove an Incomplete Grade Form. Requests for an incomplete grade must be made on or before the date of the final assignment or test of the semester. A grade of “INC” does not replace an “F” and will not be awarded for excessive absences. You will only be awarded an “INC” if you present a valid case for the inability to complete coursework by the conclusion of the term. It is ultimately my decision to grant or deny a request for an incomplete grade, subject to the policy rules below.

Policy/Rules for granting an Incomplete (INC):

  • An incomplete cannot be issued without a request from the student.
  • To qualify for an incomplete, the student must:
  • have completed over 50% of the course material and have a documented reason for requesting the incomplete. (50% means all assignments/exams up to and including the mid-term point, test, and/or assignments.)
  • be passing the course at the time of their request.

If both of the above criteria are not met an incomplete cannot be granted.

  • An INC is not a substitute for an F. If a student has earned an “F” by not submitting all the work or by receiving an overall F average, then the F stands.

Blackboard support: Blackboard Online Support Center for TroyUniversity provides customer care technicians who are available to support you 24 hours a day/7 days a week. Call 1-888-383-6206 for assistance. If you experience technical difficulties with features in Blackboard, please clickthe following link:

Non-harassment, hostile work/class environment: Troy University expects students to treat fellow students, their instructors, other TROY faculty, and staff as adults and with respect. No form of “hostile environment” or “harassment” will be tolerated by any student or employee.

Cell phones and other electronic devices: Your use of any electronic devise in the instructional environment is prohibited unless explicitly approved on a case-by-case basis by myself or by the Office of Disability Services in collaboration with myself. You may use cellular phones, pagers, and other communication devices for emergencies, but sending or receiving non-emergency messages is forbidden by the University. Use of a communication device to violate Troy University’s “Standards of Conduct” will result in appropriate disciplinary action (See the Oracle.)

In order to receive emergency messages from the University or family members, the call receipt indicator on devices must be in the vibration or other unobtrusive mode. If you receive a call that you believe to be emergency call, answer quietly without disturbing the teaching environment. If the call is an emergency, move unobtrusively and quietly from the instructional area and notify myself as soon as reasonably possible. If you are expecting an emergency call, please inform my before class starts.

Americans with disabilities act (ADA): Troy University supports Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, which insure that postsecondary students with disabilities have equal access to all academic programs, physical access to all buildings, facilities and events, and are not discriminated against on the basis of disability. Eligible students, with appropriate documentation, will be provided equal opportunity to demonstrate their academic skills and potential through the provision of academic adaptations and reasonable accommodations. Contact the Adaptive Needs Office in Eldridge Hall 102 or call (334) 670-3321. If your disability falls within ADA guidelines, please inform me at the beginning of the semester.

Honesty and plagiarism: The awarding of a university degree attests that you have demonstrated mastery of a significant body of knowledge and skills of substantive value to society. Any type of dishonesty in securing those credentials invites serious sanctions, up to and including suspension and expulsion (see Standard of Conduct in each TROY Catalog). Examples of dishonesty include actual or attempted cheating, plagiarism, or knowingly furnishing false information to any university employee.

Mission relevance: ACT3392’s course learning objectives will be implemented in accordance with the mission of Troy University, the Sorrell College of Business (SCOB), and the School of Accountancy. I will strive to offer a high-quality course to assist you in becoming a successful accounting professional. My highest priorities are the pursuit of teaching excellence, accessibility to you, and a sincere interest in your long-term success. You are expected to have a strongdesire to learn and solid work ethic.

Troy University Mission Statement: Troy University is a public institution comprised of a network of campuses throughout Alabama and worldwide. International in scope, Troy University provides a variety of educational programs at the undergraduate and graduate levels for a diverse student body in traditional, nontraditional and emerging electronic formats. Academic programs are supported by a variety of student services which promote the welfare of the individual student. Troy University's dedicated faculty and staff promote discovery and exploration of knowledge and its application to life-long success through effective teaching, service, creative partnerships, scholarship and research.

SCOB Mission Statement: Through operations that span the State of Alabama, the United States, and the world, Sorrell College of Business equips our students with the knowledge, skills, abilities and competencies to become organizational and community leaders who make a difference in the global village and global economy. Through this endeavor, we serve students, employers, faculty, and Troy University at large as well as the local and global communities.

School of Accountancy Mission Statement: The mission of the School of Accountancy is to advance the accounting profession by providing quality accounting education to both undergraduate and graduate students, publishing quality research and providing service to the professional community. We prepare students for successful careers with increasing professional and managerial responsibility in public accounting as well as government and industry and prepare undergraduate students for admission to graduate programs in accounting and business.


10:30 am to 12:50 pm

Class # / Month / Day / Date / Chapter(s) / Notes
1 / JUNE / W / 22 / 13
2 / Th / 23 / 13 & 14
3 / M / 27 / 14
4 / T / 28 / 15
5 / W / 29 / 16
6 / Th / 30 / 16 & 17
JULY / M / 04 / No class – Independence Day
7 / T / 05 / 17 & 18
8 / W / 06 / Exam No. 1 – 10:30 to 11:50
19 / 11:55 to 12:50
9 / Th / 07 / 19
10 / M / 11 / 20
11 / T / 12 / 20 & 21
12 / W / 13 / 21
13 / Th / 14 / Exam No. 2 – 10:30 to 11:50
22 / 11:55 to 12:50
14 / M / 18 / 22 & 23
15 / T / 19 / 23 & 24
16 / W / 20 / Final Exam – 10:30 to 12:50