ACC 41 - Intermediate Accounting

This syllabus and related point allocations for purposes of grading may change during the term.  Any changes will be announced in class and posted to this web site.

Office:  Hipp Hall 201R
Office hours: 1:30 to 2:30 p.m., and by appointment
Email:  sandy.roberson@furman.edu
Web address:  www.furman.edu/~sroberso
Home phone:  (864) 246-5642

Course Objectives:
1. To help you gain an understanding of the foundations, concepts, and standards underlying accounting practices. (theory)
2. To help you gain an understanding of the knowledge and skills used in financial accounting. (practice)
3. To help you develop analytical skills, logical thinking abilities and both written and verbal communication skills.
4. To help you develop interpersonal skills, including the ability to work effectively with others.

Text:  Intermediate Accounting - 5th Edition, J. David Spiceland, James Sepe, Mark W. Nelson, Lawrence A Tomassini, McGraw Hill, 2009

Text Web site:  The text web site is a good source of various resources to help students in their study of intermediate accounting.  It is located at http://highered.mcgraw-hill.com/sites/0073526878/student_view0/index.html

Answer Key: The problem answer key is available on Moodle.  The solutions manual is a valuable tool for checking your work and providing solutions to extra problems that you may wish to work prior to an exam.  Do not, however, rely on the manual to help you get through the homework - if you do, it is likely that you will regret this decision at exam time.

Class Format:  We will begin the study of each chapter with a brief discussion of the chapter, focusing on the more complex material.  Prior to coming to class, you should read the assigned material so that you have an idea of the areas where you have questions and you are prepared to participate in discussions and group problem solving.  Frequently, an intermediate chapter will begin with a review of material covered in your introductory accounting course.  We will generally not spend time discussing this material; however, homework will be assigned to help insure that you do understand the review material before moving on to related more complex concepts. Additionally, you will be expected to complete take home tests on 3 of the review material topics - the accounting cycle, the allowance method of accounting for accounts receivable and basic  inventory costing methods.  Each take home test will be worth 5 points.  Take home exams may be a collaborative or individual effort, however, each student must turn in a solution and, in the final analysis, you are each responsible for your own learning.  If you have trouble with the review material and related homework, you may find your introductory accounting text helpful.  You will be responsible for all of the chapter material (whether specifically discussed in class or not) unless otherwise noted.    Accordingly, if you have questions regarding a particular topic that is not discussed (including the review material), please raise them.  As a part of the chapter discussion, we will often work problems in class to further reinforce certain concepts discussed.

Homework Assignments from the Text: Each reading assignment will be accompanied by a homework assignment.  None of the assigned items will be collected; however, certain assigned items will be reviewed in class in groups and group members will take turns presenting their solutions to their group.   Questions that cannot be resolved within your group will be addressed in class.  For the items not reviewed in class, you should compare your solution to the solutions manual which is available on Moodle.  If you do not understand the solution or have questions about it, you should raise questions in class or see me outside of class.

Group Activities:  Due to the importance of teamwork skills in the workplace, groups - formal as well as informal - will be used for various class activities. We will often work problems in groups in class and, as noted above, certain homework will be checked and discussed in groups.  Additionally, teams of  two to three students will be formed and  required to create an exam practice problem with a correct and explained solution for an assigned area during the term.  Other group activities may be added during the term.

Outside Readings and Communication Exercises: Because it must meet the needs of an ever changing business environment, accounting is a discipline that is constantly evolving.   To give you an understanding of this aspect of accounting and to insure that you are aware of the most significant issues facing the profession today,  I may occasionally assign outside readings relating to current accounting issues which we will discuss in class.  The readings may also be a source for exam questions.

Effective communication skills are important in this class and in the "real world". It is not enough to possess technical competence and an ability to analyze and solve problems, you must also be able to clearly express your conclusions and basis for reaching them.    Accordingly, during the term  I may assign short papers, cases or other written or verbal communication exercises.  These exercises may, among other things, require you to read an article and provide your reactions to the material read, complete a case study or complete a group exercise.   Your grade on communication exercises will be based on the substance of your comments as well as your ability to communicate your thoughts clearly and succinctly.     A due date will be announced at the time each assignment is given.  If an assignment is submitted after class on the due date, it will be considered late by one day. Your grade will be reduced by one full grade each day it is late.  Communication exercises will make-up no more than 10% of your total grade.

Professional Development:  In order to broaden your understanding of accounting outside of the classroom and prepare you for life after Furman, you will be asked to complete several professional development activities during the term.  Such activities will be worth a maximum of 19 points.  The activities that you may choose from and their designated point values are listed below.  You are required to complete the Accounting Majors checklist; however, you may select any combination of other activities towards your remaining 10 points.  In order to encourage you to experience a variety of activities, those designated by a * may be used only once.  All other activities may be used a maximum of two times.  Written reports related to these activities must be prepared in good form.  Among other things, good form means the report should be typed and free of spelling and grammatical errors.   For one of your activities (this excludes spreadsheet preparation) you must make a brief presentation to share what you have learned with the class.  I will randomly schedule the presentations throughout the term.
 
 
 
 

Activity	Point  Value
Accounting Majors Checklist (see checklist for due dates of individual items) - NOTE THIS ACTIVITY IS REQUIRED	9
Attend a professional meeting and prepare a brief report on your experience (meeting schedules will be announced).	3
Attend a meeting of the Furman Accounting Society or a speaking event sponsored by the Accounting Society and prepare a brief report on your experience.  Include in your report a discussion of future meeting/speaking topics that would be of interest to you.	3
* Interview an accountant or accounting manager.  Topics discussed might include (but are not limited to) duties, computer and communication skills needed for their position, company ethical codes or types of accounting systems used.  Prepare a brief report summarizing what you learned.	3
Locate an article in the current business press related to accounting.  Prepare a brief summary of what you learned from the article.	2
* Locate an accounting related web site (other than those linked from or mentioned on my web pages or in the textbook) and prepare a brief report discussing why you found the site to be of interest.	2
* Turn in an accounting cartoon with a brief explanation of what you think it "says" about the profession (cartoons that are handed out in class, posted on the professors door or in her office are not eligible)	2
*Write an original song, haiku or other poem with an accounting theme	3
* Use Lotus or Excel for an accounting application.  You must obtain my approval regarding the application you have selected  prior to completing this activity.	TBD
Other - if you have an idea for a professional development activity that is not included above but that you believe would be meaningful, feel free to discuss it with me.	TBD

Exams:  There will be three exams during the term that will make-up approximately 80% to 90% of your final grade.  Exams will be held outside of normal class meeting hours (generally in the evening or late afternoon) to allow for adequate time to test the material covered.  Each exam will be 2 1/2 to 3 1/2 hours in length.
 

Exams will not be reviewed in class in their entirety.  However, you may review your test in my office outside of class and I will be happy to discuss any questions that were not covered in class.  Although exams will be maintained on file in my office, you are welcome to review them or discuss them with me at any time during the term.

Class Attendance and Participation: Attendance is a very important part of this course and is expected.  Although no specific points are given for participation, your participation  is encouraged and may marginally effect your grade.  On occasion, the class will be divided into groups to work particularly challenging problems.  When this occurs, please keep in mind that your participation and contribution to the group effort is important to the learning process of the entire group.

You will be held accountable for material discussed in class that is not in the text.

University policy will be followed regarding the handling of excessive absences (see the current Furman University Catalogue).

Final Grade:  Your final grade will be determined based on your total number of points earned as a percentage of the total points available.

Academic Integrity:  Your enrollment in this class signifies that you accept the rules of academic honesty provided in the Helmsman. Any violation is grounds for an "F" in this course.  Cheating on assignments, plagiarism, and other similar conduct will result in immediate dismissal from this course.

Students with disabilities who need academic accommodations should contact Ms. Gina Parris in the Office of Disability Services in Administration Building, Suite 207.  After meeting with her, contact me.   It is important that you do this early in the term.

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