Course Description:

This course is an in-depth study of accounting concepts and principles. The accounting process, the balance sheet, and income statement are discussed. Certain asset categories are scrutinized.

Prerequisites:

ACC 210, 211

Textbooks: Intermediate Accounting, ninth edition, Kieso & Weygandt

Handout Materials

Statement of Plagiarism:

If an instructor or other Calumet College of St. Joseph personnel find that a student has plagiarized or been involved in another form of academic dishonesty, the instructor or other personnel may elect to bring the matter up for judicial review. The maximum penalty for any form of academic dishonesty is dismissal from the College. The procedures for judicial review are listed under the section of this handbook that addresses student grievances.

Calumet College of St. Joseph adheres to citation guidelines as written in the Publication Manual of the American Psychological Association, Fourth Edition. A copy is available from the Calumet College of St. Joseph bookstore. This text outlines how to cite references from a variety of sources, including electronic media.

Withdrawal from Classes Policy:

After the last day for class changes has passed (see College calendar), students may withdraw from a course in which they are registered with permission from the faculty member conducting the course. A written request detailing the reason(s) for the withdrawal must be filed with the Registrar. Written request for withdrawal must be received by the Registrar by the last day of classes prior to the final examination dates specified in the catalogue. Written requests may be mailed to the Registrar or faxed to the College fax number 219-473-4259. Students are to make note of the refund schedule when withdrawing from courses. The request is forwarded to the faculty member, who makes the final determination to accept or deny the request. If the request is honored, the student will receive notification of official withdrawal; if denied, the notification will indicate why the withdrawal is disallowed. Note: Degree Completion Division (DCD) students should consult the DCD Student Handbook for information on DCD withdrawals.

An official withdrawal is recorded as a "W" grade on the student's transcript. Dropping a

course without written permission automatically incurs an "F" grade for the course (see

Refund Schedule).

Class Policy on Attendance: Attendance at all class sessions is important. Advance notice should be given of any anticipated absence. Your absence from six class sessions will reduce your grade one level.

Class Policy For Assignments: All problems must be turned in at the end of the class period for which they are assigned. Late class assignments will not be accepted without approval prior to the due date. Excessive missed assignments could reduce grade one level.

Course Objectives:

Students in this course will: 1. obtain a working knowledge of the language of business 2. be able to make complex journal entries and operate a small manual accounting system 3. Be able to identify strengths and weaknesses in a company’s internal control system

Assessment:

Exams (3 exams) 75 % of grade

Class participation/collaboration/attendance/assignments 25 % of grade

Grading Scale:

A: 93 A-: 90 B+: 88 B: 83 B-: 80 C+: 78

C: 73 C-: 70 D+: 68 D: 63 D-: 60 F: Below 60

Class Assignments

Class Date Topic-Assignment

September 2 Introduction to Course Outline.

Chapter 1 – Financial Accounting and Accounting Standards

Homework Ch 1 – C1-1 through C1-13

Ethics Case

September 9 Read Chapter 2 – Conceptual Framework Underlying Financial Accounting

Homework Ch 2 – BE2-1 through BE2-5

E2-1 through E2-6

C2-5, C2-7, C2-13

September 16 Read Chapter 3 – The Accounting Information System

Homework Ch 3 – E3-1 through E3-11, E3-14, E3-24, E3-26

P3-8, P3-12, P3-16

Class Assignments (continued):

Class Date Topic-Assignment

September 23 Read Chapter 4 – Income Statement and Related Information

Homework Ch 4 – E4-1 through E4-12, E4-19

P4-4, P4-6, P4-7

C4-8

September 30 FIRST EXAM – Covers Ch’s 1 through 4

October 7 Read Chapter 5 – Balance Sheet and Statement of Cash Flows

Homework Ch 5 – BE5-1 through BE5-12

E5-7, E5-8, E5-12, E5-14

P5-2, P5-5

Comparative Analysis

Ethics Cases 1 and 2

October 14 Read Chapter 6 – Accounting and the Time Value of Money

Homework Ch 6 – E6-1 through E6-22

Ethics Case

October 21 Read Chapter 7 – Cash and Receivables

Homework Ch 7 – E7-1 through E7-13, E7-19, E7-22

P7-3, P7-11

Financial Statement Analysis

Ethics Case 1

October 28 Read Chapter 8 – Valuation of Inventories: A Cost Basis Approach

Homework Ch 8 – E8-1 through E8-13, E8-15, E8-15, E8-19, E8-26

P8-1, P8-5, P8-9

Ethics Case

November 4 SECOND EXAM – Covers Ch’s 5 through 8

November 11 Read Chapter 9 – Inventories: Additional Valuation Issues

Homework Ch 9 – E9-1 through E9-11, E9-17, E9-18, E9-24

P9-1, P9-5, P9-8, P9-12

Class Assignments (continued):

Class Date Topic-Assignment

November 18 Read Chapter 10 – Acquisition and Disposition of Property, Plant and Equipment

Homework Ch 10 – E10-1 through E10-12, E10-14, E10-17, E10-23

P10-1, P10-3, P10-5, P10-10

Ethics Case

November 25 THANKSGIVING HOLIDAY – No Class Meeting

Read Chapter 11 – Depreciation, Impairments, and Depletion

Homework Ch 11 – E11-1 through E11-14, E11-16, E11-22

P11-1, P11-5, P11-8

Comparative Analysis

Ethics Case

December 2 Discuss Chapter 11

Read Chapter 12 – Intangible Assets

Homework Ch 12 – E12-1 through E12-17, E12-21, E12-23, E12-25

P12-3, P12-6

Ethics Case

December 9 FINAL EXAM – Covers Ch’s 9 through 12