Last updated 12.27.2016

ADVANCED FINANCIAL ACCOUNTING

ACCT 401.NO1

SPRING 2017 ONLINE

Instructor: Jamie Seitz, ABD, CPA

Physical Office Hours (TR): BE 3018 - Mondays 8-9, 12-1:30,

Virtual Office: https://zoom.us/j/7258456906, asynchronous online and by appointment

Phone: 812-461-5421

E-mail: jlseitz@usi.edu

COURSE DESCRIPTION

This course engages in an intensive study of the theory and application of Generally Accepted

Accounting Principles (GAAP) for specific advanced financial accounting entities, problems,

and issues. These areas of emphasis include: (1) Consolidated Financial Statements and

accounting for investments in non-consolidated entities; (2) Foreign currency transactions,

Hedging exchange risk, and Foreign currency financial statement translation; (3) An

introduction and overview to some general and specific International Accounting issues in

reporting; (4) Not-For-Profit Accounting, which includes an overview and specific practice

issues with various sectors and types firms, especially governmental accounting; The course

builds upon the foundation established in principles of financial accounting (ACCT 201 &

ACCT 303/ACCT 304) by covering in greater detail, the topics that are essential to preparing,

interpreting, using, and understanding financials statements in the areas noted previously in

accordance with current GAAP.

PREREQUISITES

ACCT 304 its prerequisites (CIS 151 or CIS 261, MATH 111, & completion of at least 24

semester hours). If you have questions about whether you have met these requirements, please

see the instructor for an early determination of eligibility to take this course.

COLLEGE OF BUSINESS SKILL DEVELOPMENT

To further develop the analytical problem solving skill.

LEARNING OBJECTIVES

This course seeks to support student knowledge for careers in public or private accounting,

finance, not-for-profit, and/or business consulting. More specifically it should: (1) motivate and

prepare students for their chosen professional field; (2) promote student technical competency in

the area financial accounting; (3) help students develop and foster life-long financial accounting

research skills; (4) advance student critical thinking skills and approaches to problem solving;

and (5) encourage student communication skill development.

REQUIRED TEXT AND CALCULATOR

Halsey, Robert F., Hopkins, Patrick E., Advanced Accounting, 3rd Edition, Cambridge Business

Publishers.

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myBusinessCourse Access Code (Scratch off box with access code found on page 2 of NEW

textbook) Use your USI email address to register – Do not use any other address

To access your course, you need to do the following steps:

1. Visit ttps://mybusinesscourse.com/?code=2695-27563

2. Click "Enroll" 3. Create an account or login 4. Enter new book purchase code or select "Purchase Access"

Basic 4 Function Calculator

Optional: http://www.gleim.com/accounting/eqe/

ONLINE TEACHING PHILOSOPHY

Students who opt for an online course are choosing an independent learning environment which

does not rely on high levels of interpersonal interaction to facilitate learning. Students are

encouraged to communicate with the instructor and with one another as often as possible.

However, real time, directed feedback will often not be available due to the asynchronous nature

of the course.

To be successful, online students will need to read all assigned materials, complete assigned

homework and quizzes, and diligently prepare for exams. Late work will not be accepted and

make up exams are not available. Students should be mindful of the due dates and times for all

assigned work.

Students are expected to communicate with one another and the instructor in a professional

manner. This includes proper use of formal titles and following all norms of business

communication. The instructor reserves the right to penalize, ignore, or correct students who fail

to meet these standards.

ACADEMIC DISHONESTY

Academic dishonesty will not be tolerated in any form and will result in a grade of “0" for

the examination or assignment and a failing grade in the course. The instructor may also

pursue the option of starting proceedings to have a student expelled from the University for

academic dishonesty. Please see https://www.usi.edu/deanofstudents/academic-integrity

AMERICANS WITH DISABILITITES ACT COMPLIANCE

If you have a disability for which you may require academic accommodations for this class,

please contact Disability Resources at 812-464-1961 or email Ronda Stone at rfstone@usi.edu as

soon as possible. Students who are approved for accommodations by Disability Resources

should request their accommodation letter be sent to their online instructors. Due to the nature of

online courses some accommodations approved for on campus courses may not apply. Please

discuss this with Disability Resources to clarify as needed. Students who receive an

accommodation letter from Disability Resources are encouraged to discuss the provisions of

those accommodations with their professors before or during the first week of the semester. If

you will be in an internship, field, clinical, student teaching, or other off-campus setting this

semester please note that approved academic accommodations may not apply. Please contact

Disability Resources as soon as possible to discuss accommodations needed for access while in

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this setting. For more information, please visit the Disability Resources website

at www.usi.edu/disabilities.

Title IX – Sexual Misconduct

USI does not tolerate acts of sexual misconduct, including sexual harassment and all forms of

sexual violence. If you have experienced sexual misconduct, or know someone who has, the

University can help. It is important to know that federal regulations and University policy

require faculty to promptly report incidences of potential sexual misconduct known to them to

the Title IX Coordinator to ensure that appropriate measures are taken and resources are made

available. The University will work with you to protect your privacy by sharing information with

only those who need to know to ensure we can respond and assist. If you are seeking help and

would like to speak to someone confidentially, you can make an appointment with a counselor in

the University Counseling Center. Find more information about sexual violence, including

campus and community resources at www.usi.edu/stopsexualassault.

SYLLABUS POLICY CHANGE

This syllabus may be subject to change with reasonable advanced notice.

AVAILABLE SUPPORT SERVICES

The University has a number of support services which are available for students. The

Counseling Center located in the University Division provides counseling services for students

with learning, physical or other disabilities. Please contact the Counseling Center to learn more

about this service. Academic Skills provides tutoring for many lower level courses. Contact the

Academic Skills office to determine the courses and hours of tutoring services.

ACCESSING THE COURSE WEBSITE

This course is presented via the University of Southern Indiana’s Blackboard course

management system.

You should create a shortcut (link or favorite) in your browser that will take you directly to the

Blackboard login site: http://bb.usi.edu

Then,

1. Log in using your myUSI Portal user name and password.

2. In the “My Courses” box, choose Acct 401, Summer 3, 2013

3. Review all the course content that is available through the Bb course site.

Note that you must be registered for this course to be allowed access to the course materials.

Also note that it may take 24-48 hours for Blackboard to be updated with the latest enrollment

data from the Registrar’s Office. Therefore, if you have just added the course and are denied

access, try again in 24-48 hours.

CLASS PROCEDURES

The material for this class has been divided into chapters. The inherent structure of an

electronic platform class makes your individual study and preparation extremely important. The

assigned material will focus on the major points introduced in the text. Reading the assigned

chapters will greatly improve your understanding of the content. While reading, you should take

notes. In preparation for the exam, you should study your notes and complete the discussion

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questions from the end of chapter.

For each chapter, I recommend that students use this flow of information:

1. Read the chapter and take notes

2. Watch the Panopto and/or Educreations video recordings

3. Complete the chapter homework

For exam preparation, I recommend that students:

1. Read all chapters in the Unit and take notes

2. Refresh on the material using the posted PowerPoint presentations

3. Test yourself

a. Open your text to the list of learning objectives at the beginning of the chapter.

b. For each learning objective, attempt to write out complete answers from memory

(without notes!!).

c. Compare your answers with your study materials.

d. Continue studying sections in which you are not fully prepared.

e. Repeat until you truly know the material.

EMAIL AND COURSE ANNOUNCEMENTS

All email contact will take place through the university email system using your myUSI email

account. Students are expected to have an up-to-date myUSI account and to regularly check their

email accounts. If you’re experiencing issues with your myUSI account, you may view myUSI

FAQ (http://media.myusi.org/myusifaq/).

Updates for this course may be delivered to your student email account or posted in the

announcement section of Bb. Every effort is made to keep the class informed on an ongoing

basis, so check the course site frequently to see if there are any current announcements!

Get in the habit of visiting the course site and checking your e-mail daily!

HELP RESOURCES

The University of Southern Indiana, not the Romain College of Business, supports the

Blackboard system. If you need help using Blackboard, you may:

1. Use the tutorials on the main e-Learning webpage.

2. Contact the USI Computing Help Desk at 812-465-1080, or in person at Forum Wing

(FA) 41, or go to their Webpage at http://www.usi.edu/it/help-desk

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LEARNING AND INSTRUCTION

Students are expected to read all assigned materials as the basis of learning in this course.

Assigned homework, quizzes, and cases are designed to reinforce students’ understanding of the

academic content.

GRADES

Exams 50% 90 - 100% A

80 - 89% B

70 - 79% C

HW/Blogs 50% 60 - 69% D

Total 100% Below 60% F

***I DO NOT ROUND GRADES! THERORE, IF YOU EARN A 79.99% YOU WILL

EARN A C+ AS YOUR FINAL GRADE.

The instructor reserves the right to issue assignments and quizzes throughout the course

without notice. This may result in an alteration of the total points possible for the course.

Additionally, the professor reserves the right to administer this online class differently from

the traditional classroom setting. As such, do not be concerned if your

assignments/homework do not match the traditional classroom requirements.

The instructor reserves the right to assign additional work and/or make students exempt from

assignments on an individual basis. This may result in an alteration of the total points

possible for the course for one or more students differentially from the rest of the class.

The instructor reserves the right to offer or not to offer extra credit on student-by-student

basis. If offered at the instructor’s discretion, a student is NOT eligible if he/she has not

completed ALL assignments on time for the whole semester.

CAREER ADVISING

Career advising is available through your academic advisor or any accounting professor. Please

take advantage of this opportunity to discuss the career paths open to accounting graduates and

to ask relevant questions.

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DATE

READING and VIDEO ASSIGNMENTS

Module 1: Jan

10-Feb 9

Test 1

(Chapters 1-

4) Feb 9

Please also

utilize the

videos and

examples on

the

MyBusiness

Course

website for

each

chapter.

Introduction

Read Chapter 1 Equity Method of Accounting for Investments

Video 1: http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=b2f4cd23-9bb3-4e8e-a83c-c717bd61414f

Video 2: http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=965461e8-c876-45ff-a72f-b27877794cc2

Video 3: http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=fe46e097-4b5d-4e73-8f2f-394f6e51f432

Video 4: http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=ab2658bd-e368-4c3e-ade0-466f6410e028

Video 5 Educreations Example: http://www.educreations.com/lesson/view/acct-401-equity-method-for-

investments/4104845/?s=XnWpVX&ref=appemail

Read Chapter 2 Equity Method Consolidation (@ date of acquisition)

Video 6 (Current) Halsey Text (CE of CEADI): http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=b4b648c0-d9be-4382-a190-68670630c4ea

NO VIDEO 7-9

Read Chapter 3 Equity Method Consolidation (subsequent to acquisition)

Video 10 (Current) Halsey Text (CEADI): http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=0674ff46-84ba-4fb7-afd8-1a30ca140de4

Read Chapter 4 Equity Method Consolidations with Intercompany Transactions

Video 11 (Current) Halsey Text (CEADI): http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=dd1ce98d-61dc-41e9-9353-977ed2b530e6

Module 2: Feb

10- March 2

Test 2

(Chapters 5,

6) March 2

Please also

utilize the

videos and

examples on

the

MyBusiness

Course

website for

each

chapter.

Read Chapter 5 Equity Method Consolidations with Non-Controlling Interests

Video 12 (Current) Halsey Text (CEADI):

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=e6a1d67c-

e6d3-45d7-bba3-fe7bd0e0f2f9

Read Chapter 6 Variable Interest Entities

Video 13:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=c48c81d0-

dc1a-46a3-aaf1-578100ff9c51

DATE

READING and VIDEO ASSIGNMENTS

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Module 3: March

3 – April 11

Test 3 (Chapters

12, 7-8) April 11

Please also

utilize the

videos and

examples on

the

MyBusinessCo

urse website

for each

chapter.

Read Chapter 12 Segment Disclosures and Interim Financial Reporting

Video 14:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=b40744

af-5066-42ad-9069-5ec05924b79f

Video 15:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=652688

52-3516-4966-b7ac-1c231da130a0

NO VIDEO 16

Read Chapter 7 Foreign Currency Transactions and Intro into Derivatives

Video 17:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=759c86

89-9cbf-46ac-9dcf-8d09eaf036c1

Video 18 Educreations Example:

http://www.educreations.com/lesson/view/advanced-accounting-401-

foreign-currency-transacti/5496038/?ref=appemail

Read Chapter 8 Foreign Subsidiary Consolidations

Video 19:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=916f70

c7-548f-4929-b133-13231106a375

Video 20:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=a79dae

23-a4ba-476c-af83-c58d1618d678

Module 4: April

12 – April 27

Test 4 (Chapters

9-11) April 27

Please also

utilize the

videos and

examples on

the

MyBusinessCo

urse website

for each

chapter.

Read Chapter 9 Introduction to Governmental Accounting Fund Financial Statements

Read Chapter 10 Introduction to Governmental Accounting Government Wide Financial Statements

Review Handwritten Notes PDF File Bbcontent

Video 21:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=39dfbb

88-fc05-4622-8647-c41ef9a833df

Video 22:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=b42c57

98-5851-442d-bd2f-beef466a638d

Read Chapter 11 Introduction to Not-For-Profit Accounting

Review Handwritten Notes PDF File

Video 23:

http://usi.hosted.panopto.com/Panopto/Pages/Viewer.aspx?id=da84e3

ca-51ae-4952-9fa2-4b4964ae1be2

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