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Effective: Late Spring 8-Week, 2017/2018

ACCT 384: Intermediate Accounting III

Course Description

Development of accounting theory and practice as applied to: conceptual framework and financial reporting, complexities of revenue recognition, leases, income taxes, pensions, accounting changes and error correction.

Prerequisite: ACCT 383

Proctored Exams: None



Syllabus Contents

Textbooks

Required

  • Spiceland et al . Intermediate Accounting with CONNECT Access. 9th ed. McGraw-Hill, 2016.
    • ISBN-978-1-260-08903-5
      • Note: If you already have the textbook, you will need to purchase access to Connect by using ISBN-13: 978-1-260-02987-1. Do not buy used versions of the CONNECT code as they will not work.

MBS Information

Textbooks for the course may be ordered from MBS Direct. You can order

For additional information about the bookstore, visit http://www.mbsbooks.com.


Course Overview

Throughout this course we will review the accounting knowledge you have learned up to this point in time. We will also expand upon that knowledge to begin to cover some of the more complex issues accountants are faced with when it comes to recording the transactions and creating the related financial statements under more complex business scenarios.



Technology Requirements

Participation in this course will require the basic technology for all online classes at Columbia College:
  • A computer with reliable Internet access
  • A web browser
  • Acrobat Reader
  • Microsoft Office or another word processor such as Open Office

You can find more details about standard technical requirements for our courses on our site.


Course Objectives

  • To apply accounting theory to financial accounting problems and to financial statements.
  • To engage in oral and written communication, as well as critical and creative thinking.
  • To develop skills in information technology, self-study and applied research.
  • To promote ethical awareness and professional responsibilities.

Measurable Learning Outcomes

  • Explain the institutional structure of financial accounting.
  • Explain the conceptual framework of financial reporting.
  • Explain the complexities of revenue recognition.
  • Explain the accounting concept for leases.
  • Explain accounting for income tax allocation.
  • Explain accounting for pensions.
  • Explain accounting for changes and error correction.

Grading

Grading Scale
Grade Points Percent
A 819-910 90-100%
B 728-818 80-89%
C 637-727 70-79%
D 546-636 60-69%
F 0-545 0-59%
Grade Weights
Assignment Category Points Percent
Discussions (4) 80 9%
Homework (7) 280 31%
Homework Review (Comprehensive) (1) 100 11%
Exams (3) 300 33%
Final Exam (1) 150 16%
Total 910 100%


Schedule of Due Dates

Week 1
Assignment Points Due
Introductions - Wednesday/Sunday
Discussion 1 20
Homework 1 40 Sunday
Week 2
Assignment Points Due
Homework 2 40 Sunday
Exam 1 100
Week 3
Assignment Points Due
Discussion 2 20 Wednesday/Sunday
Homework 3 40 Sunday
Week 4
Assignment Points Due
Homework 4 40 Sunday
Exam 2 100
Week 5
Assignment Points Due
Discussion 3 20 Wednesday/Sunday
Homework 5 40 Sunday
Week 6
Assignment Points Due
Homework 6 40 Sunday
Exam 3 100
Week 7
Assignment Points Due
Discussion 4 20 Wednesday/Sunday
Homework 7 40 Sunday
Week 8
Assignment Points Due
Discussion 5 -- Wednesday/Saturday
Homework Review 100 Thursday
Final Exam 150 Saturday
Total Points 910

Assignment Overview

Discussions

All discussions must take place in the Discussions area, meaning that uploading an attachment as your post will not count. Each week’s discussion will take place from Monday to Sunday, except for Week 8 which ends on Saturday, with your initial post due by 11:59 pm Central Time (CT) on Wednesday and two responses to classmates' posts due by 11:59 pm CT on Sunday. During Week 8, the one response is due by 11:59 pm CT on Saturday.

Your initial response to the discussion question should fully answer the question(s) asked. While I encourage you to write at least a paragraph, the content of your answer is more important that the length. Your response should be written in your own words, without quoting any other sources. If you are writing about an assigned reading from our text, be sure to include the author and title in the first sentence or two, so others know what piece you are referencing.

Your responses to others’ posts should also be well developed, fully explaining your response to the classmates’ posts. Make responses that add to the conversation and take it further; simply posting “I agree” or “good job” does not help develop ideas. For maximum learning and point benefits, respond to at least one student’s post. You are also expected to read all of the posts during the week.

Please note that Discussion 5 is not graded, but intended for reflection purposes.


Homework

You will have eight homework assignments throughout this course. You will complete these assignments in CONNECT. These assignments will ask you to apply the information from the textbook and Instructional Materials. Homework assignments 1 - 7 will be based on that week's material, while Homework Assignment 8 is comprehensive. These problems are calculation/application based problems. You will have three attempts per assignment.

Homework Assignments 1 - 7 will be available starting at 12:00 am CT on Monday of each week. You must submit the homework assignment for the week by 11:59 pm CT on Sunday.


Homework Review

During Week 8, your homework assignment will be a review of all the concepts throughout the course.  This assignment will help you not only review for the Final Exam, but will also give you the opportunity to review the material taught in the course.  The Homework Review assignment will be available in CONNECT and will open at 12:01 am CT on Monday of Week 8 and is due by 11:59 pm CT on Thursday of Week 8.  As with the other homework assignments, you will have three attempts to complete this assignment.  

I encourage you not to wait until the last moment to begin this assignment.  Being a review of all the concepts, the Homework Review will be longer than the weekly homework assignments and as you come to find out, many of these problems require difficult calculations.


Exams

You will take three exams in CONNECT during this course. These exams will ask you to complete 20 - 25 multiple-choice questions over the week’s readings. The amount of questions will depend on the complexity of each week's material. Each exam opens at 12:00 am CT on Thursday of the week the exam is due.  You will have 2 hours and one attempt to complete the exam. You may use your book to help you find the answers, but your time is limited, so you must be very familiar with your textbook to find the answers quickly. Each exam is worth 100 pts. and is due by 11:59 pm CT on Sunday of the appropriate week.


Final Exam

During Week 8, you will take a non-proctored Final Exam which will consist of 50 questions from all of the assigned readings throughout the course. This exam will be completed in CONNECT. You will have 2 hours (120 minutes) to take the exam and will be given only one attempt. The Final Exam is worth 150 points. The exam will open Thursday of Week 8 at 12:01 am CT and is due by 11:59 pm CT Saturday.



Course Outline

Click on each week to view details about the activities scheduled for that week.

Week 1: Revenue Recognition and Profitability Analysis
Readings
  • Read Chapter 5
  • Review Chapter 5 PowerPoint
  • Review extra homework problems and solutions
  • Review Instructional Materials
Introductions

Introduce yourself in the "Introductions" topic of our class discussion. Please give us more than your name. Include your profession, hobbies, interest in this course, and any other information that can help us get to know you.

Your initial post must be submitted by 11:59 pm CT on Wednesday, with your response posts submitted by 11:59 pm CT on Sunday.
Discussion 1

Select a fortune 500 company that interests you, visit this company’s home page, and read the information presented there. Post a paragraph describing what interests you with respect to the company you have chosen: what their main business interests are and what your initial feelings are with respect to the current financial success of the company. Also discuss the function and primary focus of financial accounting.  We will build on the company you choose with each weekly discussion assignment. This will give us all insight into the various companies and industries that are presented throughout the length of this course. You cannot pick the same company that anyone else in the class chooses.  However, you may “reserve” a company by posting a message that reads “I am choosing company X.” 

Review the most recent annual report for the company that you have chosen and provide a link to that report in your initial post.  What did they report as their level of revenues for the past 3 years?  Calculate the return on equity and return on assets ratios for at least 2 years. What does this information in total tell you about the financial position of the company?  Would you want to invest in the company? Why or why not?

Your initial post is due by 11:59 pm CT on Wednesday, and your replies to two classmates' posts are due by 11:59 pm CT on Sunday.

Homework 1

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 5.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 1 by 11:59 pm CT on Sunday.

Week 2: Inventories: Additional Issues
Readings
  • Read Chapter 9
  • Review Chapter 9 PowerPoint
  • Review extra homework problems and solutions
  • Review Instructional Materials
Homework 2

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 9.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 2 by 11:59 pm CT on Sunday.

Exam 1

Exam 1 will cover chapters 5 and 9 in your textbook The exam will ask you to complete 20 - 25 multiple-choice questions over the week’s readings. The amount of questions will depend on the complexity of each week's material. Each exam opens at 12:00 am CT on Thursday of the week the exam is due. You will have 2 hours and one attempt to complete the exam. You may use your book to help you find the answers, but your time is limited, so you must be very familiar with your textbook to find the answers quickly. Each exam is worth 100 points and is due by 11:59 pm CT on Sunday of the appropriate week.

Your exam must be submitted by 11:59 pm CT on Sunday.
Week 3: Leases
Readings
  • Read Chapter 15
  • Review Chapter 15 PowerPoints
  • Review extra homework problems and solutions
  • Review Instructional Materials
Discussion 2

For this week’s discussion assignment look at the financial statements of the company you chose during Week 1 in the most recently released annual report.

What type of lease information does your company provide?  You may need to delve into the notes to the financial statements to find this information.  What strategy does the company you chose appear to be following with respect to its leasing arrangements?  Do you agree with the strategy?  Why or why not?  If you disagree, what strategy do you believe the company should implement instead?  Why do you see that strategy as being more beneficial?

Your initial post must be submitted by 11:59 pm CT on Wednesday, with your response posts submitted by 11:59 pm CT on Sunday.

Discussion would occur as student disagree with the strategy selected.  Plus the student would have to critically analyze the strategies and defend their choice.

Homework 3

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 15.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 3 by 11:59 pm CT on Sunday.

Week 4: The Income Statement, Comprehensive Income and the Statement of Cash Flows
Readings
  • Read Chapter 16
  • Review Chapter 16 PowerPoints
  • Review extra homework problems and solutions
  • Review Instructional Materials
Homework 4

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 16.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 4 by 11:59 pm CT on Sunday.

Exam 2

Exam 2 will cover chapters 15 and 16 in your textbook The exam will ask you to complete 20 - 25 multiple-choice questions over the week’s readings. The amount of questions will depend on the complexity of each week's material. Each exam opens at 12:00 am CT on Thursday of the week the exam is due. You will have 2 hours and one attempt to complete the exam. You may use your book to help you find the answers, but your time is limited, so you must be very familiar with your textbook to find the answers quickly. Each exam is worth 100 points and is due by 11:59 pm CT on Sunday of the appropriate week.

Your exam must be submitted by 11:59 pm CT on Sunday.
Week 5: Pensions and Other Post-Retirement Benefits
Readings
  • Read Chapter 17
  • Review Chapter 17 PowerPoints
  • Review extra homework problems and solutions
  • Review Instructional Materials
Discussion 3

For this week’s discussion assignment look at the financial statements of the company you chose during Week 1 in the most recently released annual report.

What type of pension plan information does your company provide?  Does the company you are following provide a defined contribution or defined benefit plan?  What are the pros and cons of each of these types of plans?  You may need to delve into the notes to the financial statements to find this information.  Do you agree with the company strategy with respect to pensions?  Why or why not?  What steps could the company take to improve upon their current strategy with respect to pensions?  

Your initial post must be submitted by 11:59 pm CT on Wednesday, with your response posts submitted by 11:59 pm CT on Sunday.

Homework 5

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 17.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 5 by 11:59 pm CT on Sunday.

Week 6: Accounting Changes and Error Corrections
Readings
  • Read Chapter 20
  • Review Chapter 20 PowerPoints
  • Review extra homework problems and solutions
  • Review Instructional Materials
Homework 6

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 20.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 6 by 11:59 pm CT on Sunday.

Exam 3

Exam 3 will cover chapters 17 and 20 in your textbook The exam will ask you to complete 20 - 25 multiple-choice questions over the week’s readings. The amount of questions will depend on the complexity of each week's material. Each exam opens at 12:00 am CT on Thursday of the week the exam is due. You will have 2 hours and one attempt to complete the exam. You may use your book to help you find the answers, but your time is limited, so you must be very familiar with your textbook to find the answers quickly. Each exam is worth 100 points and is due by 11:59 pm CT on Sunday of the appropriate week.

Your exam must be submitted by 11:59 pm CT on Sunday.

Course Evaluation
Please evaluate the course. You will have an opportunity to evaluate the course near the end of the session. A link sent to your CougarMail will allow you to access the evaluation. Please note that these evaluations are provided so that I can improve the course, find out what students perceive to be its strengths and weaknesses, and in general assess the success of the course. Please do take the time to fill this out.
Week 7: Statement of Cash Flow Revisited
Readings
  • Read Chapter 21
  • Review Chapter 21 PowerPoints
  • Review extra homework problems and solutions
  • Review Instructional Materials
Discussion 4

For this week’s discussion assignment look at the financial statements of the company you chose during Week 1 in the most recently released annual report.

Review the statement of cash flows presented.  Does the company use the direct or indirect method to prepare the statement?  What is the trend in operating cash flows over the years presented? Calculate the cash flows from operations divided by net sales for at least 2 years.  What does this information tell you with respect to your company?  Would you want to invest in the company?  Why or why not?

Your initial post must be submitted by 11:59 pm CT on Wednesday, with your response posts submitted by 11:59 pm CT on Sunday.

Homework 7

You will complete 6-12 questions similar to the end of chapter exercises in Chapter 21.  You will be able to rework differing versions of the homework to improve your grade and ensure your understanding of this week's material. See the Connect Accounting website for the specific assignment and instructions.

You must complete Homework 7 by 11:59 pm CT on Sunday.

Week 8: Wrap-up and Final Test
Readings
  • Review all chapters covered in Weeks 1 - 7
  • Review all PowerPoints in Weeks 1 - 7
  • Review extra homework problems and solutions in Weeks 1 - 7
  • Review Instructional Materials
Discussion 5

Where did you encounter struggle during this course, and what did you do to deal with it?  What about your thinking, learning, or work brought you the most satisfaction? What are your next steps? Which of those steps will come easiest? Where will the terrain become rocky? What can you do now to navigate the road ahead with the most success?

Your initial post must be submitted by 11:59 pm CT on Wednesday, with your response posts submitted by 11:59 pm CT on Saturday.

This discussion is not graded.

Homework Review

This assignment reviews all concepts throughout the course and will help prepare you for the Final Exam. You will need to complete the Homework Review assignment in CONNECT no later than 11:59 pm CT on Thursday.

Since this is a comprehensive review, I encourage you to start on this assignment as early as possible so you will have plenty of time to complete it.

Final Exam

The Final Exam covers chapters 5, 9, 15-17, 20 and 21 in your textbook.  You will have 1 attempt and 2 hours to complete the Final Exam.  Be sure to save your progress until you are ready to submit your exam.  The exam consists of 50 multiple choice questions.  The Final Exam will open at 12:01 am CT on Thursday and must be submitted by 11:59 pm CT on Saturday.

The exam will be completed at the Connect Accounting website.


Course Policies

Student Conduct

All Columbia College students, whether enrolled in a land-based or online course, are responsible for behaving in a manner consistent with Columbia College's Student Conduct Code and Acceptable Use Policy. Students violating these policies will be referred to the office of Student Affairs and/or the office of Academic Affairs for possible disciplinary action. The Student Code of Conduct and the Computer Use Policy for students can be found in the Columbia College Student Handbook. The Handbook is available online; you can also obtain a copy by calling the Student Affairs office (Campus Life) at 573-875-7400. The teacher maintains the right to manage a positive learning environment, and all students must adhere to the conventions of online etiquette.

Plagiarism

Your grade will be based in large part on the originality of your ideas and your written presentation of these ideas. Presenting the words, ideas, or expression of another in any form as your own is plagiarism. Students who fail to properly give credit for information contained in their written work (papers, journals, exams, etc.) are violating the intellectual property rights of the original author. For proper citation of the original authors, you should reference the appropriate publication manual for your degree program or course (APA, MLA, etc.). Violations are taken seriously in higher education and may result in a failing grade on the assignment, a grade of "F" for the course, or dismissal from the College.

Collaboration conducted between students without prior permission from the instructor is considered plagiarism and will be treated as such. Spouses and roommates taking the same course should be particularly careful.

All required papers may be submitted for textual similarity review to Turnitin.com for the detection of plagiarism. All submitted papers may be included in the Turnitin.com reference database for the purpose of detecting plagiarism. This service is subject to the Terms and Conditions of Use posted on the Turnitin.com site.

Non-Discrimination

There will be no discrimination on the basis of sex, race, color, national origin, sexual orientation, religion, ideology, political affiliation, veteran status, age, physical handicap, or marital status.

Student Accessibility Resources

Students with documented disabilities who may need academic services for this course are required to register with the office of Student Accessibility Resources. Until the student has been cleared through this office, accommodations do not have to be granted. If you are a student who has a documented disability, it is important for you to read the entire syllabus as soon as possible. The structure or the content of the course may make an accommodation not feasible. Student Accessibility Resources is located in Student Affairs in AHSC 215 and can be reached by phone at (573) 875-7626 or email at sar@ccis.edu.

Online Participation

You are expected to read the assigned texts and participate in the discussions and other course activities each week. Assignments should be posted by the due dates stated on the grading schedule in your syllabus. If an emergency arises that prevents you from participating in class, please let your instructor know as soon as possible.

Attendance Policy

Attendance for a week will be counted as having submitted any assigned activity for which points are earned. Attendance for the week is based upon the date work is submitted. A class week is defined as the period of time between Monday and Sunday (except for week 8, when the work and the course will end on Saturday at midnight.) The course and system deadlines are based on the Central Time Zone.

Cougar Email

All students are provided a CougarMail account when they enroll in classes at Columbia College. You are responsible for monitoring email from that account for important messages from the College and from your instructor. You may forward your Cougar email account to another account; however, the College cannot be held responsible for breaches in security or service interruptions with other email providers.

Students should use email for private messages to the instructor and other students. The class discussions are for public messages so the class members can each see what others have to say about any given topic and respond.

Late Assignment Policy

An online class requires regular participation and a commitment to your instructor and your classmates to regularly engage in the reading, discussion and writing assignments. Although most of the online communication for this course is asynchronous, you must be able to commit to the schedule of work for the class for the next eight weeks. You must keep up with the schedule of reading and writing to successfully complete the class.

No late discussion posts will be accepted.

No late assignments or exams will be accepted without the prior approval of the instructor.

Course Evaluation

You will have an opportunity to evaluate the course near the end of the session. A link will be sent to your CougarMail that will allow you to access the evaluation. Be assured that the evaluations are anonymous and that your instructor will not be able to see them until after final grades are submitted.


Additional Resources

Orientation for New Students

This course is offered online, using course management software provided by Desire2Learn and Columbia College. The course user guide provides details about taking an online course at Columbia College. You may also want to visit the course demonstration to view a sample course before this one opens.

Technical Support

If you have problems accessing the course or posting your assignments, contact your instructor, the Columbia College Helpdesk, or the D2L Helpdesk for assistance. Contact information is also available within the online course environment.

Online Tutoring

Smarthinking is a free online tutoring service available to all Columbia College students. Smarthinking provides real-time online tutoring and homework help for Math, English, and Writing. Smarthinking also provides access to live tutorials in writing and math, as well as a full range of study resources, including writing manuals, sample problems, and study skills manuals. You can access the service from wherever you have a connection to the Internet. I encourage you to take advantage of this free service provided by the college.

Access Smarthinking through CougarTrack under Students -> Academics -> Academic Resources.


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