ACG 3131 – Section 001

Sequence Number 10019

INTERMEDIATE THEORY 1

FALL2007

Tuesday/ Thursday, 12:30 – 1:50 PM

BU 410

Instructor: / Leigh Rosenthal
E-mail: / - preferred
Phone: / 305-934-6835 (cell)-only if necessary
Office: / FL 407
Office Hours: / Monday 1 PM-3 PM
Tuesday/Thursday 11 AM-12 PM; or by appointment
Website / Blackboard:

USE OF BLACKBOARD SITE: Some materials for this course will be available on the FAU Blackboard website (blackboard.fau.edu). You are expected to access the Blackboard website regularly to check for syllabus updates, announcements, assignments, and other course materials.

TEXTS:

  • Donald E. Kieso, Jerry J. Weygandt, & Terry D. Warfield. Intermediate Accounting. 12thed. John Wiley & Sons, Inc., 2007.
  • May & May. Effective Writing: A Handbook for Accountants. 6th or 7th ed. Prentice Hall. This is a required text for accounting majors at FAU. You will need it for writing assignments in many classes.
  • ALEKS – “Accounting Cycle – Corporation” program. (see below for details) Note: This program must be completed and submitted for my review by September 27th, 2007 at the beginning of class in order to pass this class. Failure to complete and submit this program by will result in a grade of “F” for this course. Completion of this program prior to September 18th will count as 10 points towards the class participation grade

PREREQUISITES:

Junior standing and 6 hours of accounting principles are prerequisite for this course. Students lacking proper prerequisites may be administratively withdrawn from this or any other accounting course at any time during the term without receiving a tuition refund and without being notified in advance.

COURSE DESCRIPTION & OBJECTIVES:

This course presents a user-oriented overview of financial reporting and practice with a focus on how management decisions impact financial statements. You will study financing, investing, and operating decisions made by corporate managers, and you should leave the course with a relatively sophisticated understanding of how these business decisions interact with financial reporting rules and guidelines. This is not a bookkeeping course or a journal entry course. You will focus on the end products of the financial reporting process: income statements, balance sheets, statements of stockholders’ equity, and cash flow statements. The course will help you develop many of the competencies which the American Institute of Certified Public Accountants (AICPA) expects accounting graduates to have. You should visit the AICPA website (specifically for more information about these competencies.

CLASS POLICIES:

  1. You are expected to come to class having (a) READ the text material assigned for that day and (b) ATTEMPTED ALL assignments.
  2. Unless instructed otherwise, ALL work to be submitted for consideration toward your course grade is to be attempted and completed on an INDIVIDUAL BASIS.
  3. You are responsible for School of Accounting policies at

These policies are considered to be an integral part of this syllabus.

ACADEMIC IRREGULARITIES, HONESTY AND CLASSROOM CONDUCT:

All students are referred to the Chapter 6C5-4.001 of the Student Handbook entitled “Honor Code, Academic Irregularities, and Student’s Grievances.” It is the policy of the School of Accounting at FloridaAtlanticUniversity to adhere to the provisions of this section. Faculty of the School of Accounting will take action to secure the maximum penalty in the event of any observation of a violation.

A fundamental principle of academic, business and community life is honesty. In the academic environment, the following are critical:

Appropriate classroom behavior is expected at all times, including respect for the instructor and peers. Disruptive classroom behavior is unfair to other students who are in class to learn, as well as to the instructor, and will not be tolerated.

The Internet is a powerful tool providing access to a wealth of information. Students are reminded that plagiarism guidelines that apply to printed materials also apply to materials accessed via the Internet. Plagiarism is a very serious violation.

Please note: The Turnitin software may be used at the instructor’s discretion for evaluating assignments for plagiarism.

Religious Holidays. It is the responsibility of the student to promptly notify the professor of any conflicts due to religious observance so that accommodations can be arranged.

Hurricanes. In the event of a hurricane warning or watch, the class will meet in accordance with the university policy. Classes cannot be individually cancelled by the instructor, although assignments and exams may be modified or postponed in the event of a hurricane. Students should monitor Blackboard announcements regarding any weather-related course issues.

GRADING:

Exams:There will be four exams including a COMPREHENSIVE FINAL EXAM.

Makeup Policy:Make-up exams will be given only in cases of extreme hardship (e.g., hospitalization of student, death of immediate family member, unavoidable out-of-town business). If at all possible, you should speak with me prior to the exam in order to receive permission to take a make-up exam. Failure to seek prior approval will greatly reduce your chance of receiving make-up privileges. If you miss an exam and are not allowed to make up the exam, you will be given a zero for that exam.

Writing Assignment: There will be a writing assignment worth 40 points. (see handout attached). In addition to content, the submission will be scored for grammar, spelling, coherence, clarity and conciseness. The submission must be typed using proper form and must be submitted at the start of class to avoid late penalty. Use the Effective Writinghandbook for guidance on content and form. In order to receive credit, your solution must demonstrate diligent application and understanding of principles involved. Obviously hasty solutions will receive no credit. There will be no extensions granted.

Assignments:During the course of the semester there will be 2-4 assignments. These assignments will be handed in and graded and will count for 20 points total. Assignments will NOTbe accepted after the due date. Additional information regarding these assignments will be made during the semester.

ALEKS

We are using the Accounting Cycle (Corp) program for this class. You need to purchase access to the program via the internet. While ALEKS will not be graded, IT IS A REQUIRED PART OF THIS CLASS. Failure to complete ALEKS by the deadline will result in an ‘F’ for the course. THERE WILL BE NO EXTENSIONS ALLOWED. Early completion of ALEKS will count 10 points towards the class participation grade.

The link for the ALEKS is:

The course code to access the ALEKS software program is: 9JK3T-9FXYY

Once you arrive at the ALEKS home page click on the link that says:

“New User? Sign up now!” located above the regular login and password section. I would book-mark this page so you can access it in the future.

The ALEKS Corporation Customer Support telephone number is (714) 245-7191 x207 should you need any help regarding ALEKS.

Class Participation

40 points total are for class participation. Class participation will be assessed on preparation for class, homework and problems and completion of ALEKS.We will go over some of the homework in class. I am not looking for the correct answers as much as I am looking for honest attempts to do the problems. Although the homework will notbecollected, this is THE MOST IMPORTANT aspect of the course. You must be dedicated to DOING the work--not merely watching or listening in class. Students must be prepared with the assignments for each day as shown below. Solutions to review questions, exercises and problemswill be available via Blackboard.

WARNING: Reviewing solutions before investing significant effort to solve homework on your own will give you a false sense of accomplishment/understanding! Exams, and ultimately your professional career in accounting, require a TRUE understanding of the issues. In addition, exams typically incorporate an element of time pressure. You must know the material to finish the exam in the time allowed. As in any profession, practice (i.e., homework) is crucial to success. Plan to spend at least 2 – 3 hours preparing for each hour of class time.

Grading will be on a percentage basis. Points will be allocated as follows:

Exams100 points each
Note: Final exam is comprehensive / 400 points
In-class Assignments (5– 10 points each) / 20points
Writing Assignment / 40 points
Class Participation / 40 points
Total Points Possible / 500 points

Mandated Assessment Criteria: The State of Florida has mandated assessment procedures for all major programs. For the accounting major, Financial Reporting (ACG 3131), Managerial Decision Making and Accounting (ACG 3341), and Federal Taxation I (TAX 4001) are used to meet these requirements.

Therefore, students in these classes will be required to meet the following additional criteria in order to successfully complete the course. This means that if you don’t get a 72% on each of the following you will not pass the class irregardless of you final average in the course.

  • An average of C (72%) on all tests. The tests are utilized in the course to meet the assessment criteria related to content and critical thinking skills.
  • A grade of 72% on the writing assignment. This assignment is designed to meet the assessment criteria related to communication.

The grading scale is as follows:

A / 92% and above / C / 72 - 77%
A- / 90 - 91% / C- / 70 – 71%
B+ / 88 - 89% / D+ / 68 - 69%
B / 82 - 87% / D / 62 - 67%
B- / 80 - 81% / D- / 60 - 61%
C+ / 78 - 79% / F / 59% and below

Students with Disabilities: “In compliance with the Americans with Disabilities Act (ADA), students who require special accommodations due to a disability to properly execute coursework must register with the office for Students with Disabilities (OSD) located in Boca Raton in SU133 (561-237-3880) and follow all OSD procedures.”

Incomplete: Note than an “Incomplete” is not a substitute for a poor grade and is rarely granted. In accordance with the policy of the School of Accounting and the College of Business, an “Incomplete” will be given only under the following circumstances:

1.You are otherwise passing the course (at least a C).

2.You have an excused absence that prevented the on-time completion of the course requirements.

Withdrawals: If you decide to drop from this course, you are responsible for completing the proper paper work required to withdraw from the course.

Important dates:

Last day to withdraw with full refund is August 31st.

Last day to drop a course without receiving an “F” is October 19th.

Tentative Schedule for Fall 2007:

Date / Work that should be completed prior to the class meeting
BE = Brief Exercise, E = Exercise, P = Problem, CA = Concepts For Analysis, CAC = Comparative Analysis Case, RC = Research Case, CC = Communication Case, AC = Analysis Case, EC=Ethics Case, RWC = Real World Case, ITC = Integrating Case, IC = International Case
August 28 / Review of syllabus and course requirements. Begin Chapter 1
Aug 30
Sept 4 / Chapters 1 & 2
Complete CA1-1, CA1-2, CA1-5, CA1-6, CA1-7, CA1-10, CA1-11, CA1-12, CA1-15, and CA1-16
Complete E2-1, E2-3, E2-4, E2-6,and E2-7
Complete CA2-2, CA2-3, CA 2-5, CA2-7 and CA2-12
Complete Financial Reporting Problem (The Procter & Gamble Company P&G)
Sept 6
Sept 11 / Chapter 3 including Appendix 3A & 3B
Assignment 1- DUE Sept 18th at beginning of class.
Complete E3-1, E3-2, E3-4, E3-6, E3-7, E3-10, E3-12, E3-16
Complete E3-18 and E3-20
Complete P3-6and P3-8
Complete Financial Reporting Problem P&G
Sept 13 / work on Assignment 1
Sept 18 / Review for Exam 1
Assignment 1 due at beginning of class
Sept 20 / Exam 1 - Chapters 1, 2, and 3
Sept 25
Sept 27 / Chapter 4
Complete E4-2, E4-3, E4-5, E4-9, E4-11, and E4-15
Complete P4-1, P4-3, P4-6
Complete CA 4-3, CA 4-4, and CA 4-8
Complete Financial Reporting Problem P&G
ALEKS “Accounting cycle – corporation” program due today at the beginning

of class print copy of completed “mypie” and bring to class for submission.

Oct 2
Oct 4 / Chapter 5
Assignment 2- Due October 9th at beginning of class
Complete E5-2, E5-5, E5-6, E5-7, E5-9, E5-10, E5-12, E5-13, E 5-15 (part a only)
Complete P5-1,P5-2,P5-3, P5-5, P5-6
Complete Financial Reporting Problem P & G
Oct. 9 / Review for Exam 2
Assignment 2 due at beginning of class
Oct 11 / Exam 2- Chapters 4 and 5
Oct 16
Oct 18
Oct 23 / Chapters 6
Assignment 3- Due Nov 1 at beginning of class
Complete E6-1, E6-3, E6-6, E6-7, E6-8, E6-12, E6-13, and E6-21

Complete P6-1, P6-5, P6-8, P6-11, P6-14, and P6-16

Complete Financial Reporting Problem P & G

Writing Assignment due Oct 23 at beginning of class
Oct 23
Oct 25
Oct 30 / Chapter 14
Complete E14-2, E14-3, E14-5, E14-9, and E14-11
Complete E14-7 (use the data from the problem to construct income statements for the years ending 12/31/07 and 12/31/08 and balance sheets for 12/31/07 and 12/31/08)
Complete P14-1, P14-5, P14-6, and P14-9

Complete E14-16, E14-17, E14-12, E14-14, and P14-2

Complete Financial Reporting Problem P & G
Nov 1 / Review for Exam 3
Assignment 3 due at beginning of class
Nov. 6 / Exam 3 - Chapters 6 and 14
Nov. 8
Nov 13
Nov 15
Nov 20 / Chapter 17
Assignment 4- Due at beginning of class Nov 27
Complete E17-1, E17-3, E17-4, E17-6, E17-10, E17-13, E17-15
Complete E17-16 and E17-8
Complete P17-1, P17-3, and P17-8
Complete Financial Reporting Problem P & G
Nov. 22 / Holiday – No Class
Nov 27
Nov. 29
Dec 4 / Review for Final Exam
Assignment 4 due Nov 27 at beginning of class
Dec. 6 / Reading Day – No Class
Dec. 13
10:30 AM / Final Exam - Chapter 17 & Comprehensive Final Exam