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Course Syllabus

Course Syllabus ACCT 6211001– Advanced Financial Reporting

Fall semester 2018

3.0 Credit Hours

(Last updated: 8/17/2018)

Instructor: Dr. James M. Lukawitz, Ph.D.

Phone1: 901.678-3030 Phone2: 901.438-2680 E-mail: jlukawtz@memphis.edu Office: FCBE #226 Office Hours: Monday: 11:00 am to 12:30 pm, 5:00 to 6:30 pm, Tuesday 6:00 to 6:30 pm Wednesday 11:00 am to 12:30 pm and by appointment

Course Overview: [REQUIRED]

Course Overview:

Business combinations; accounting methods for consolidated financial

statements; foreign transactions and accounting for foreign subsidiaries;

partnership accounting

Pre-Requisites/Co-Requisites:

ACCT 3120 with a grade of “C” or better, admission into graduate school

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Required Texts (and Related Materials): [REQUIRED]

Advanced Accounting 3rd Edition by Halsey and Hopkins, published by Cambridge Business

Publishers.

Mybusinesscourse….on-line homework manager. This comes free with a new book or can be

purchased separately from the publisher… it also comes with an e-version of the text so you can

simply purchase this if you are comfortable with an e-book.

Location of Course Materials: This is a fully live course and course materials are located on the eCourseware website. The

Internet class home page is located in eCourseware at: http://elearn.memphis.edu . This page

contains all the instructions for this class. To log on, you need your University of Memphis

UUID and password. If you have trouble logging on, first try http://iam.memphis.edu to see if

you can fix the problem. If not, call 678-8888 or go to Computer Services on the first floor of the

Administrative building.

Once logged on and at the Course Homepage, go to Course Content. To successfully

complete each chapter’s assignments:

Read the chapter. While reading, take notes of the important items covered. Pay

particular attention to the learning objectives listed at the beginning of the chapter.

Rework examples in the chapter to make sure you understand the concepts covered.

Expect to spend 3 hours per chapter reading.

Answer the Quizzes. Quizzes are attached to the chapters in eCourseware. Be sure

to pay attention to the schedule because the quiz questions will open and close at the

approximate times the chapters are covered. You will have two opportunities to take

each quiz. Incorrect answers are listed after the quiz is submitted, and the highest

score is recorded. The quizzes have stated start and end dates and will not be

available after the end date! All quizzes are due by 11:59 pm on the due date. You

should be able to find the answers to all quiz questions in the text, but you may use

any legitimate source in doing so. However, do not collaborate with any other

person. Do your own work!

Watch and download PowerPoint Tutorials from the course Content and print. The

slides should be reviewed and added to your notebook. Your notebook should

contain the printed slides, notes, and problem solutions by chapter. The notebook

will assist you with reviewing and preparing for the midterm and final exams.

To download, simply click on the file name and select Open or Save. You can

save to jump drive or your computer. To print the file:

1. Open the file in PowerPoint. DO NOT CLICK THE PRINT ICON ON THE TASK

BAR.

2. From the menu bar at the top of the screen, click on File.

3. On the drop-down menu, select Print.

4. Next to Print What: Select Handout and either 3 or 6 per page.

5. Click OK to print

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Solve Assignments in Mybusinesscourse Open the Mybusinesscourse website, log in

and select the current chapter. Open the required problems and solve them You

may work the problems as many times as you like up until the close date. The

highest grade will be used. Expect to spend 2 – 3 hours working each chapter’s

assignments.

Solve the Project for the chapter from the Course Content and save it to your

computer as “ProjectXyourLastName.” Find the associated problem in the textbook

and read the instructions. Solve the problem using the spreadsheet. When you have

completed the spreadsheet, upload it to the indicated DROPBOX in eCourseware. If

you are having difficulty completing the problem, see if there is a narrated slide

offering tips, find the practice problem in Connect like the project and work it out,

and go to Discussions to find assistance from your classmates or from me. Please

try these approaches before emailing me with questions.

Interact in the Discussion Area. eCourseware contains a DISCUSSION AREA with

which you should become familiar and use frequently. The discussion area is a

means of contacting other students in the class and is an appropriate place to discuss

homework problems, ask non-personal questions, etc. I will be monitoring the

discussion board every day and will intervene with comments and corrections as

necessary. I encourage you to help your classmates if you know the answer to their

question. It is not appropriate to share entire solutions here. For more information,

go to the Discussions heading under Grading below:

Recommended Texts (and Related Materials):

none

Course Objectives: [REQUIRED]

After completing this course you should:

1. Describe in general the various methods of accounting for an equity investment

2. Prepare the journal entry to consolidate the accounts of a subsidiary whether dissolution

takes place or not.

3. Identify and describe various methods available to a parent company in order to maintain

its investment in subsidiary account in its internal records.

4. Describe the valuation principles underlying the acquisition method of accounting for the

noncontrolling interest.

5. Understand why intra-entity asset transfers create accounting effects within the financial

records of affiliated companies that must be eliminated or adjusted in preparing

consolidated financial statements.

6. Describe a variable interest entity, a primary beneficiary and the factors used to decide

when a variable interest entity is subject to consolidation

7. Compute taxable income and deferrerd tax amounts for an affliated group whether they

file consolidated or separate tax returns

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8. Understand concepts related to foreign currency, exchange rates, and foreign exchange

risk

9. Explain the theoretical underpinnings and the limitations of the current rate and temporal

methods.

10. Use both the bonus method and the goodwill method to record a partner’s capital

investment

11. Prepare a proposed schedule of liquidation based on safe capital balances to determine an

equitable preliminary distribution of available partnership assets.

Fogelman College: Learning Outcomes for Your Degree [REQUIRED]

This course is designed to help you to meet the overall learning objectives for the MS Accountancy degree offered by the Fogelman College. You should take the time to become familiar with the overall learning objectives as a student in the MS Accountancy degree program.

MS in Accounting Program Outcomes (opens in new window)

Course Methodology

Even though this is a live course and much of the learning will be self-managed and self-paced. This has the benefit of accommodating each student’s unique schedule and learning style.

Professor’s Expectations of Students:

In general, you should assist the instructor in creating a positive, supportive environment for learning by staying engaged in the course and actively participating in all online discussions.

Student's Expectations of the Professor:

In my role as your instructor, there are certain things you can expect from me including: well-organized and engaging learning experience, response to emails within two (2) business days, and feedback on all work submitted within 7-10 calendar days.

Grading and Evaluation Criteria [REQUIRED]

Over the semester, you will have a variety of opportunities to earn points towards your final (overall) letter grade in this course. This section of the syllabus describes the assessed work you will be doing and how overall (final) letter grades will be computed.

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Final Course Grades

Your grade this semester will be determined on the basis of the total points you earn:

Exam 1 200 points

Exam 2 100 points

Quizzes 50 points

Homework (Found in MBC) 100 points

Final Exam (optional) 300 points

Excel Projects (Ecourseware) 60 points

Term paper 100 points

Total 610 points

NOTE: If you are happy with your grade on test you simply take test 2; however, if you are

not satisified with your score on test 1 you may take the 300 point final instead of test 2

and your test 1 grade will not be counted. YOU CANNOT TAKE TEST 2 AND THE

FINAL; IF YOU DO BOTH, I WILL COUNT THE ONE THAT RESULTS IN THE

LOWEST SCORE

Percentage Letter Grade

100% - 90% A

89.9% - 80% B

79.9% - 70% C

69.9%- 60% D

Below 60% F

The grading scale applied to the points for the course represents the guaranteed minimum

number of points required to earn any given grade.

** The total of the exams you keep must be at least 180 points (60%) or above to pass! If not, you will earn an F in the course REGARDLESS of the total points earned!

Periodic Exams

The two exams during the semester will test your knowledge and understanding of the

material in the chapters indicated. These exams will consist of multiple-choice questions

primarily problems similar to the homework exercises and problems which can be found in

MBC and problems which are in Ecourseware. The multiple choice of the exams are timed,

and must be done individually. Although you will have your study materials available to you,

because the exams are timed to assume you know the material, you will be unsuccessful if you

rely on your study materials. Prepare as if you were in a classroom without the aid of those

materials. You will not have time to look up answers you do not know. The problems can be

done in a group and are untimed.

Final Exam

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The OPTIONAL final exam will cover all chapters and it is optional. It will follow the same

format as the other exams with multiple choice done individually and timed with problems

allowed to be done in a group and untimed. NOTE: IF YOU ARE HAPPY WITH YOUR

GRADE ON TEST 1 YOU SIMPLY TAKE TEST 2. IF YOU ARE UNHAPPY WITH YOUR

SCORE ON TEST 1 YOU DO NOT TAKE TEST 2 BUT TAKE THE COMPREHENSIVE

FINAL INSTEAD.

Quizzes

There is a quiz attached to each of the chapters. Each set of questions is worth 5 points

(for a total of 50 points). Be sure to pay attention to the schedule because the quiz questions

will open and close at the approximate times the chapters are covered. You will have two

opportunities to take each quiz. Incorrect answers are listed after the quiz is submitted, and the

highest score is recorded. The quizzes have stated start and end dates and will not be available

after the end date! All quizzes are due by 11:59 pm on the due date. You should be able to find

the answers to all quiz questions in the text, but you may use any legitimate source in doing

so. However, do not collaborate with any other person. Do your own work!

Projects

Projects consist of Excel spreadsheet problems from the book that are to be downloaded

from Course Content for each chapter. Projects are listed under eCourseware. The projects

should be uploaded to the dropbox by the due date. Projects will not be graded until after the

dropbox closes; do not email them to me! All projects are due by 11:59 pm on the due date.

Each project counts 10 points with me counting your 6 best for a total 60 possible Project

points.

Homework (called Required Assignments in Connect)

There is homework assigned for every chapter. Note the homework is NOT equally weighted

per chapter

Term paper: Graduate students will work in groups of 3 to 5 members where each group writes a

term paper which will be due the last day of class (April 25th). The topic of the term paper can

be any area of consolidations, partnerships or international accounting. The topic must be

approved by the instructor.

List of Formal Assessed Activities

For a complete description of the assessed activities for the semester, please refer to the “Agenda” page that can be found in the online course area under “Getting Started”.

Schedule of Activities

For a complete semester schedule of readings, activities, and due dates for assignments, please refer to the “Agenda” that can be found in the online course area under “Getting Started”.

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Final Exam Schedule [REQUIRED]

Since the exam has an on-line component, the second test and the optional final will be available the last week of class and up to the end of the Monday of final’s week. Hence it will be due by 11:59pm Central time December 10th.

Course Policies [REQUIRED]

E-MAIL:

All students are required to maintain and access their University of Memphis (@memphis.edu) email account. You will receive all official course correspondence at this email account. Any inability to receive incoming mail in a timely fashion (e.g., not regularly checking your email, having a “full mailbox” condition, etc.) is the student’s responsibility.

Attendance: [REQUIRED]

I fully expect students to attend class; however, I am treating you as adults and will not be taking attendance.

Adding / Dropping:

If you have questions about adding or dropping classes, please refer to this page on the Registrar’s website (opens in new window).

Academic Integrity: [REQUIRED]

The University of Memphis has clear codes regarding cheating and classroom misconduct. If interested, you may refer to the Student Handbook section on academic misconduct for a discussion of these codes. Note that using a “Solutions Manual” is considered cheating. Should your professor have evidence that using a “Solutions Manual” has occurred, he/she may take steps as described on the campus’ Office of Student Conduct website (opens in new window). If you have any questions about academic integrity or plagiarism, you are strongly encouraged to review the Fogelman College's Website on Academic Integrity (opens in new window).

Participation:

To be successful in this course as a student, you must stay active and involved throughout the entire semester. Students are expected participate in all interactive aspects of the course. You should also regularly communicate with the instructor as part of your overall learning experience, check into the course frequently for announcements (usually on the course home page), and actively participate in threaded discussion events (both formal and informal). You should plan on logging into the course at least three times each week.

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Classroom or Online Behavior:

All participants in the course should be considerate of the other course participants and treat them (as well as their opinions) with respect. The class will operate under the assumption that any and all feedback offered is positive in nature and that the intentions of the person(s) providing feedback are strictly honorable. Insensitivity in this area will not be tolerated. If you have any questions about online communication, you should review the Fogelman College's Netiquette website (opens in new window).

Late Assignments:

Assignments and projects may be submitted anytime up to and including the date due. Please review all information in this syllabus and related “Course Activity Summary / Schedule” for all due dates for formally assessed work. If your work is not submitted on time, the instructor reserves the option to deduct up to 20% of the grade value for tardiness depending upon the circumstances and appropriate communication between the student and the instructor.

Extra Credit:

With the exception of the introduction there is no extra credit offered in this course. Your final grade will be computed based on your work on the formal/assessed activities previously described in this syllabus. Remember, if you did poorly on test 1 you can take the comprehensive final instead of test 2. The exams will be worth slightly more than the amount stated in the syllabus thus giving you a chance to receive a few extra points.

Reporting Illness or Absence:

Due dates and deadlines have been established for each graded assignment. In this course, deadlines are taken very seriously. Please do not wait until the last day to submit assignments or to take quizzes and exams. If an emergency should arise, it is the student’s responsibility to contact the instructor prior to the deadline to discuss the matter. A deadline extension will be considered only if all of the following conditions are met: (1) Extreme emergency and (2) Instructor contacted prior to the due date.

Inclement Weather:

In the event that inclement weather requires the cancellation of classes at The University of Memphis, local radio and television media will be immediately notified. Additionally, The University of Memphis has established an Inclement Weather Hotline at 678-0888 as well as TigerText (opens in new window), an emergency alert text messaging service to students, faculty and staff. This optional service is used in the event of an on-campus emergency, an unscheduled university closing, or a delay or cancellation of classes due to, for instance, inclement weather. Additional information on TigerText (opens in new window).

Syllabus Changes:

The instructor reserves the right to make changes as necessary to this syllabus. If changes are necessitated during the term of the course, the instructor will immediately notify students of

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such changes both by individual email communication and posting both notification and nature of change(s) on the course bulletin board.

Student Services

Please access the FCBE Student Services (opens in new window) page for information about:

Students with Disabilities

Tutoring and other Academic Assistance

Advising Services for Fogelman Students

Technical Assistance

MS Accountancy Degree Learning Outcomes

Goal 1: Graduates will be knowledgeable in accounting and its functional support of organizations.

Understand and process the information and outputs needed by various organizations using appropriate documentation.

Demonstrate an acceptable level of competence in the graduate’s area of concentration.

Demonstrate an acceptable level of competence in financial accounting.

Goal 2: Graduates will be effective communicators and team members Deliver an organized and persuasive oral presentation that demonstrates focus,

time management, and effective visuals.

Create a clear, well-organized project using quantitative tools and documentation when appropriate.

Collaborate effectively in a team environment on a course project.

Goal 3: Graduates will be critical thinkers and problem solvers The graduate will be able to identify and frame problems involving accounting

issues.

The graduate will be able to formulate and defend an effective strategy for solving problems.

Goal 4: Graduates will be aware of ethical ramifications and global business implications of decisions.

The graduate will understand the basic accounting ethical rules.

The graduate will recognize ethical ramifications of various accounting decisions in a written assignment.

The graduate will understand differences in global accounting practices.

Goal 5: Graduates will be technologically competent. The graduate will be proficient in using online resources to solve problems

relating to accounting applications.

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The graduate will be proficient in the use of computer-based problem-solving aids to solve problems relating to accounting applications.