SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 ...

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SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 ...

  1. 1. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM March 2005 – June 2005 University Telephone: 603-644-3193 Home Telephone: 603-471-9971 E-Mail: Profhanson@comcast.net Office location: Webster Hall 219A Office hours: Monday 3-6 PM Wednesday 4-6 PM Other Hours by Appointment COURSE OBJECTIVES: To continue the examination of the theory and practice applicable to accounting for Assets, Liabilities, and Stockholders’ Equity. To continue to prepare the student to address the issues and problems related to Generally Accepted Accounting Principles (GAAP) financial reporting, income determination, asset measurement, and accounting ethics. To continue to effectively communicate the results of the financial reporting process through properly prepared financial statements and narrative reports, and interpret and use financial information for business decision-making. PREREQUISITES: Financial Reporting II – ACC-620. All students are strongly recommended to review the material most recently covered in ACC-610 and ACC-620. REQUIRED TEXTS: Kieso, Donald E., Weygandt, Jerry J., and Warfield, Terry D. Intermediate Accounting, 11th Edition, John Wiley & Sons, New York, New York, 2004. ISBN 0-471-07208-7.
  2. 2. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM REQUIRED TEXTS (CONTINUED): Kieso, Donald E., Weygandt, Jerry J., and Warfield, Terry D. Study Guide Volume II to accompany 11th edition of textbook above. John Wiley & Sons, New York, New York, 2004. ISBN 0-471-22649-1. Baker, Richard E., Lembke, Valdean C., and King, Thomas E. Advanced Financial Accounting, 6th Edition, McGraw-Hill Irwin, Inc., New York, New York, 2005. ISBN 0-07-286632-2 Baker, Richard E., Lembke, Valdean C., and King, Thomas E. Study Guide to Accompany Advanced Financial Accounting, 6th Edition, McGraw-Hill Irwin, Inc., New York, New York, 2005. ISBN 0-07-286634-9. CLASS PARTICIPATION & COMMITMENT: All assigned exercises and problems will be reviewed in class. Each student is expected to contribute to class discussion of the assigned material. The time commitment for weekly assignments is estimated at ten (10) to twelve (12) hours or more. Students are strongly encouraged to complete additional exercises and problems at the end of each chapter and to properly utilize the study guides to enhance their understanding of the material. PROCEDURES AND TECHNIQUES: Substantial class participation and interaction; review of exercises and problems; and lectures. Various handouts will be distributed and will become an integral part of the course. Access to the solutions of all chapter material will be available to all students.
  3. 3. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM GRADING POLICY: Exam # 1 20% Exam # 2 35% Exam # 3 35% Class participation & Interaction 10% TOTAL 100% ====== EXAMS: Some of the exams (or at least a portion of them) will be closed book and will last 3 – 3 ½ hours. This will be discussed the class before the exams. If an exam is missed by the student, he/she will make arrangements with the Professor to make it up before the next class. No make-up exams will be given without prior approval. Please review the academic honesty policy for the University. Special assignments will not be allowed under any circumstances, MAKE-UP CLASSES: If a class is canceled for any reason, the make-up class will be held on a Friday night or Saturday morning to be determined by the Professor. ADA/504 COMPLIANCE STATEMENT: Southern New Hampshire University is committed to and concerned with meeting the needs of students challenged by physical, emotional, and/or learning disabilities. At the beginning of each term, or as soon as you become aware of a disability, we encourage you to request those accommodations which you need to meet your academic goals. To ensure that all of your needs are met, the University recommends that you meet with one of the following individuals who will assist you in making contact with appropriate faculty members and support services staff regarding accommodations:
  4. 4. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM ADA/504 COMPLIANCE STATEMENT (Continued): Emotional Disabilities & ADA/ Learning, Physical Disabilities & 504 Compliance Issues: ADD/ADHD: Mrs. Jet Goldberg Mrs. Hyla Jaffe Coordinator of Counseling Services Coordinator of Disability Services Wellness Center Frost 8 603-645-9679 603-668-2211 Ext. 2386 j.goldberg@snhu.edu h.jaffe@snhu.edu ACADEMIC HONESTY: Southern New Hampshire University requires all students to adhere to high standards of integrity in their academic work. Activities such as plagiarism and cheating are not condoned by the university. Students involved in such activities are subject to serious disciplinary action. Plagiarism is defined as the use, either by paraphrase or direct quotation, of the published or unpublished work of another without full and clear acknowledgement. Cheating includes the giving or receiving of unauthorized assistance on quizzes, examinations or written assignments from any source not approved by the instructor. For a full definition of academic dishonesty please refer to the graduate catalog. LIBRARY RESOURCES: In addition to the intellectual resources available on site and online (http://www.snhu.edu/library.htm), Shapiro Library makes available group and one-on-one instruction in information literacy, enabling students to define and articulate what knowledge-based resources are relevant to their research interests. Library staff are available to assist students in effectively and efficiently accessing information from credible sources, to compare new knowledge with prior beliefs, and to consider the related ethical, legal, and socio-economic issues that are inherent in scholarly investigation.
  5. 5. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM BLACKBOARD USE: Blackboard is the free software that the University uses to enhance learning and is utilized for this course. It is available through any web browser (Netscape, Internet Explorer, etc.). Instructions on how to access Blackboard will be covered in class. Students must be able to access Blackboard and download versus information. COPYRIGHT POLICY: Southern New Hampshire University abides by the provisions of the United States Copyright Act (Title 17 of the United States Code). Any person who infringes the copyright law is liable. The Copyright Policies can be secured from the Library Director and is accessible (under Guides/Tutorials) on the Shapiro Library web pages. COURSE ASSIGNMENTS/TOPICS Week Topic Chapter Exercises/Problems 1 Introduction to Course & Course Requirements The Computerized CPA Exam- 1 Year Later. Discussion of the Sarbanes-Oxley Act of 2002 Revenue Recognition - Current environment 18 Ex 18-1, Ex 18-4, Point of Sale Revenue Recognition Ex 18-5, Ex 18-11 Percentage of Completion & Completed Contract Methods Installment Sales Accounting Cost Recovery Method Appendix 18A – Special Sales Transactions - Franchises & Consignments
  6. 6. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM Week Topic Chapter Exercises/Problems 2 Completion of the rest of Chapter 18 Ex 18-13, Ex 18-16, Accounting for Income Taxes Ex 18-22, Ex 18-23, Deferred Tax Assets & Liabilities 19 Ex 19-2, Ex 19-4, Temporary & Permanent Differences Ex 19-10, Ex 19-11 Net Operating Losses – Carry-forward or Carry-back Financial Statement Presentation Special Issues regarding Income Taxes. 3 Review of the Asset- Liability Method 19 Ex 19-14, Ex 19-16, Appendix 19A - Comprehensive Illustration of Interperiod Tax Allocation for Several Years Ex 19-25, P. 19-6. Review for Exam Chapters 18 & 19 4 Exam Chapters 18 & 19 5 Exams returned, reviewed and solutions provided Accounting for Pensions and Post-Retirement 20 Ex 20-2, Ex 20-3, Benefits Ex 20-8, Ex 20-12, Defined Benefit vs. Defined Contribution Plans Ex 20-16, Ex 20-23, Alternative Measures of the Liability Ex 20-24, P 20-4. Components of Pension Expense Unrecognized Prior Service Costs Gain or Loss Minimum Liability Reporting Pension Plans in Financial Statements & Disclosures Appendix 20A- Accounting for Post-Retirement Benefits
  7. 7. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM Week Topic Chapter Exercises/Problems 6 Accounting for Leases 21 Ex 21-1, Ex 21-2, Advantages-Disadvantages of Leasing Ex 21-3, Ex 21-4, Operating Lease vs. Capital Lease Accounting Ex 21-5, Ex 21-6 for Lessee and Lessor Ex 21-8. Ex 21-9 Special Accounting Problems – Residual Values, Ex 21-15 Bargain Purchase Options, and Sales Type Leases. Appendix 21A -Illustration of Different Lease Agreements Appendix 21B – Sale / Leasebacks 7 Accounting Changes & Error Analysis 22 Ex 22-3, Ex 22-8, Changes in Accounting Principle Ex 22-9, Ex 22-13, Changes in Accounting Estimate Ex 22-19, Ex 22-20, Change in Entity P 22-3, P 22-6 Error Analysis Appendix 22A – Change from and to the Equity Method Review for Exam Chapters 20, 21 & 22 8 Exam Chapters 20, 21 & 22. 9 Exams Returned, Reviewed and Solutions Provided Investments - Trading Securities, Available for Sale 17 Ex 17-3, Ex 17-7. Securities, & Held to Maturity Securities Ex 17-9, Ex 17-10, Investments in Debt Securities Ex 17-12, Ex 17-18, Investments in Equity Securities Ex 17-19, Ex 17-22 The Cost, Equity, & Consolidation Methods Transfers Between Categories Appendix 17A- Accounting for Derivatives
  8. 8. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM Week Topic Chapter Exercises/Problems 10 BELOW IS FROM BAKER'S 6TH EDITION 15 Ex 15-1, Ex 15-4, Partnerships: Formation, Operation, and Changes Ex 15-8, Ex. 15-9, In Membership Ex 15-10, P 15-19. Accounting for Partnerships Allocating Profit/Loss to Partners Partnership Financial Statements Changes in Membership Appendix 15A – Tax Aspects of Partnerships Appendix 15B – Joint Ventures 11 Partnerships: Liquidation 16 Ex 16-1, Ex 16-3, Marshaling of Assets Ex 16-4, Ex 16-6, Lump-Sum Liquidations and Installment Ex 16-10, Ex 16-11, Liquidations Ex 16-12A. Incorporation of a Partnership Appendix 16A – Partner’s Personal Financial Statements Review for Exam Chapters 17, 15 & 16. 12 Exam Chapters 17, 15 & 16 End ROH 3/3/05
  9. 9. SCHOOL OF BUSINESS GRADUATE PROGRAMS SYLLABUS ACC-630 FINANCIAL REPORTING III DR. RICHARD O. HANSON, CPA, CMA, CFM

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