INTERMEDIATE ACCOUNTING I

ACCT 303

Summer 2016 – ONLINE

Instructor: T. Brian Routh E-mail: tbrouth@usi.edu

COURSE DESCRIPTION An intensive study and application of Generally Accepted Accounting Principles (GAAP)

for asset valuation, income measurement, and financial statement presentation for

business organizations, including the processes through which GAAP has evolved. The

emphasis in this course is on the basic financial statements and related footnotes, the time

value of money, the valuation and presentation of assets, current liabilities, and related

income statement accounts, and other special accounting topics. Prerequisite(s): ACCT

201 and ACCT 202

LEARNING OBJECTIVES

1. Apply conceptual framework, economic reasoning, generally accepted accounting

principles and spreadsheet software to solve accounting problems,

2. Identify, measure, analyze and report on economic transactions in the financial

statements,

3. Effectively produce, interpret and analyze written text and oral messages used in

business,

4. Evaluate the effect of different treatments on a business entity’s financial results,

5. Describe the external forces that affect accounting standard setting including

government, professional groups, lobbyists and businesses,

6. Explain the ethical issues involved in financial reporting

REQUIRE MATERIALS:

Textbook w/MyAccountingLab

Intermediate Accounting by E. Gordon, J. Raedy, A. Sannella; Pearson Publishing

© 2016; ISBN – 13: 9780134053714

MyAccountingLab

MAL is a computer program developed and designed to reinforce the information

introduced in the accounting text. You will use the computer program to complete

exercises and problems that will give you practice in applying basic accounting principles

and procedures. You should get enrolled in the software as soon as possible to give

yourself time to experience and navigate around in the software to learn where and how

assignments are completed, etc. A major advantage of computer-assisted instruction is

that you will be provided immediate feedback to your responses and provided with an

explanation of the suggested solution to the exercise. ALL assignments

(HW/Exams/Discussions) completed on MAL are due by 11:59pm CST on the due

date. No late work is accepted! If you are in a different time zone, please make

concessions for the difference in time.

Technical Requirements:

A reliable computer: a dedicated computer with an updated operating system,

such as Windows 7 or later, or Mac OSX.

High-Speed Internet Connection: (e.g. DSL or Cable). All USI online students

are required to have a stable high-speed Internet connection. A wired Internet

connection is recommended for online meeting, exams, and assignment

submission.

Supported Web Browser: Firefox or Safari

Microsoft Office: Word & Excel

Minimum technical skills: Students should have a proficiency with Microsoft Word and

Excel for this course. More information on the system requirements for online courses at

USI can be found at http://USI.edu/distance/students/current/requirements.

FASB Codification Access for Students: Login: AAA51914 Password: S3Bf4vJ The website to login is http://aaahq.org/ascLogin.cfm *This information changes periodically. If you are not able to log in, please let me know.

Communication Guidelines

Netiquette: All class communication and interactions with other students and the

professor should follow common social standards for respect and courtesy. Learn

about the Core Rules of Netiquette so that you can get the most out of the class.

Communication Expectations: The best way to contact the professor in this

course is via email. Emails are typically answered within a 24 hour period M-F.

Feedback on assignments can typically be expected within 48 hours of submission

(Case studies and discussion responses can take longer).

HOMEWORK

Homework assignments are to ensure that you are comprehending current material being

covered. You should NOT wait until the due date to begin work on the homework! You

may work on the homework at different times (the assignment does not have to be

completed in one sitting) and you can work/rework each exercise/problem as many times

as needed to fully grasp the material up to the due date of the assignment. The homework

assignments are a tool to allow you the opportunity for more practice of the concepts in

the chapter and those covered in class. Working diligently and fully understanding the

homework assignment will be a good first step in preparation for the upcoming exam.

You should NOT fully rely on the homework as your only preparation for the

exam/assessment(s). (These assignments are located under Homework & Exams in

MAL).

EXAMS

Exams are completed online via MAL (can be a combination of short answer, multiple

choice). Exams test your ability to recall the concepts that you have acquired in your

readings of the chapters, online discussions, online lectures and individual research. In

addition, exams will require that you be able to not only recall concepts but be able to

apply them in different accounting situations. Exams will be given, on MAL, during the

course as outlined in the Course Calendar. Please note: there are NO makeup exams!

The exams have a time limit of 2 hours. Once you begin an exam on MAL you will have

to complete the assignment (i.e. you may not stop and start). Once the last day to

complete the exam has past there will be no make-up exams allowed. (These

assignments are located under Homework & Exams in MAL).

FINAL EXAM

The final exam will be administered at the end of the summer session as outlined in the

course calendar. You will be given 3 hours to complete the comprehensive exam. It must

be completed PRIOR to 11:59pm on the last day final exams are available. Do not wait

until the last minute (computer/Internet problems is not an excuse to not complete the

exam on time – NO EXTENSIONS WILL BE GIVEN!) Located under Homework &

Exams in MAL

PARTICIPATION/DEPORTMENT

A portion of your grade will be determined by your level of activity in periodic online

discussions of topics as well as your responses to others’ postings and case studies. In

addition, good behavior is expected in this course and lack of respect for each other

and/or the professor may negatively affect your final grade (i.e. poorly worded or

disrespectful email communication, discussion posts, etc.) Located under Participation in

MAL

ONLINE LECTURES & ASSIGNMENTS:

There are multiple online lectures and notes that I have developed and you are

encouraged to utilize those to assist you throughout this course. The online lectures are

not exhaustive with regards to coverage of the material and you will not be able to rely

solely on the notes from those lectures. You can find them for this course at

www.TheAccountingDr.com (click on NOTES and VIDEOS) as well as other potentially

helpful materials (lectures from your previous accounting courses: Financial and

Managerial). You can also access this website directly from within MAL.

All Assignments in MAL are due by 11:59pm on the due date or the last date available

unless otherwise stated. You should only email assignments if there is no specific

dropbox created for that assignment or if instructed to do so. Any emailed assignment

should be in PDF format and in ONE file (i.e. Not multiple files for multiple pages -

these should all be merged into one PDF file – as with ALL submissions, if I can't open

the file it will not be accepted as on time). Any emailed assignments must appear in my

email box PRIOR to the beginning of the class it is due or it is considered late and will

not be accepted. Please make sure you keep a close eye on the course calendar at the end

of the syllabus to stay abreast of when things are due! This is YOUR responsibility - NO

LATE WORK IS ACCEPTED!

METHODS

1. Online video lectures and online discussion of text material/topics,

2. Application of text material in solving assigned problems,

3. Collaborative group discussions for problem solving and topic discussion

GRADES *Assignments are equally weighted within each category

Exams (3) 21% 90 - 100% A

Final Exam (1) 11% 80 - 89% B

Participation (6) 24% 70 - 79% C

HW (11) 44% 60 - 69% D

Total 100% Below 60% F

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.

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. We are all here to ensure that you are as

successful as possible in your college career and beyond!

AMERICANS WITH DISABILITITES ACT COMPLIANCE

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

class, please register with Disability Resources (DR) as soon as possible. Students who

have or who receive an accommodation letter from DR are encouraged to meet privately

with course faculty to discuss the provisions of those accommodations as early in the

semester as possible. To qualify for accommodation assistance, students must first

register to use the disability resources in DR, Science Center Rm. 2206, 812-464-1961

http://www.usi.edu/disabilities. To help ensure that accommodations will be available

when needed, students are encouraged to meet with course faculty at least 7 days prior to

the actual need for the accommodation.”

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. Contact the Academic Skills office to determine

the courses and hours of tutoring services.

TECHNICAL SUPPORT CONTACT INFORMATION

USI Help Desk: Ph: (812) 465-1080 / email: it@usi.edu

Pearson Support: http://www.pearsonmylabandmastering.com/northamerica/mymathlab/students/support/

Due Date Ch. Objective / Topic Assignments

6/13 4 Review of the Accounting Cycle

6/15 1

2

The Financial Reporting Environment

Financial Reporting Theory HW (ch. 4)

6/17 (The Accounting Cycle assessment can be

worked on after the due date but a penalty

of 10% per day late will be assessed)

Accounting Cycle

Assessment HW;

HW (ch. 1, 2)

6/20 3 Judgment and Applied Financial

Accounting Research Introduction Discussion

(and responses due);

EXAM (ch. 1, 2, 4)

6/22 5 Statement of Net Income and

Comprehensive Income HW (ch. 3);

Conceptual Framework

Case/Discussion

6/24 6 Statements of Financial Position and Cash

Flows and the Annual Report HW (ch. 5)

6/27 7 Accounting and the Time Value of Money HW (ch. 6);

Codification Research

Case

6/29 Excel Case Excel Case;

HW (ch. 7)

7/1 8 Revenue Recognition EXAM (ch. 3, 5, 6)

7/4 HOLIDAY – INDEPENDENCE DAY!

7/6 9 Short-Term Operating Assets: Cash and

Receivables HW (ch. 8);

Basis for Conclusions

Case

7/8 10 Short-Term Operating Assets: Inventory

HW (ch. 9);

EXAM (ch. 7, 8, 9)

7/11 11 Long-Term Operating Assets: Acquisition,

Cost Allocation, and Derecognition HW (ch. 10)

7/13 12 Long-Term Operating Assets: Departures

from Historical Cost HW (ch. 11 & 12);

Accounting in the News

Case

7/15 Final Exam - Cumulative Available at 11:59pm on

7/13 - Due prior to

11:59pm on 7/15