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Effective: Late Fall 8-Week, 2017/2018

BUSI 584: 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; statement of cash flow.

Prerequisite: ACCT 383 Intermediate Accounting II

Proctored Exams: None



Syllabus Contents

Textbooks

Required

  • Kieso, Donald E., Weygandt, Jerry J., & Warfield, Terry D. Intermediate Accounting, FASB Update. 16th. Hoboken: John Wiley & Sons, Inc., 2016.
    • ISBN-978-1-1192-3155-4

Additional Required Resources

You will need the code to use WileyPLUS, the online site where you will do the assigned problems: ISBN: 978-1-1192-9546-4 for the text and code.

This course also uses the FASB Codification for research assignments. The link for access to this resource is http://www.fasb.org/

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

In this course, we will examine various real world accounting topics that are in conformity with Generally Accepted Accounting Principles (GAAP). The course also provides insight in the differences and similarities between the new International Financial Reporting Standards and GAAP. Accountants in public practice and those working in industry encounter these topics on an ongoing basis. Rigorous study of these topics is critical for passing licensure examinations such as the Certified Public Accounting examination.


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

  • Apply accounting theory to financial accounting problems and to financial statements.
  • Engage in oral and written communication, as well as critical and creative thinking.
  • Develop skills in information technology, self-study and applied research.
  • Promote ethical awareness and professional responsibilities.
  • Apply the FASB Codification to accounting research problems

Measurable Learning Outcomes

  • Describe and explain the institutional structure of financial accounting.
  • Describe and explain the conceptual framework of financial reporting.
  • Describe and explain the complexities of revenue recognition.
  • Demonstrate accounting for leases.
  • Demonstrate accounting for income tax allocation.
  • Demonstrate accounting for pensions.
  • Demonstrate accounting for changes and error correction.
  • Demonstrate calculation and interpretation of earnings per share.
  • Prepare a statement of cash flows.
  • Demonstrate accounting for full disclosure in financial reporting.
  • Demonstrate effective and efficient use of the FASB Codification.

Grading

Grading Scale
Grade Points Percent
A 900-1000 90-100%
B 800-899 80-89%
C 700-799 70-79%
F 0-699 0-69%
Grade Weights
Assignment Category Points Percent
Research Assignments (8) 264 26%
WileyPLUS Problems (7) 336 34%
Exams (4) 400 40%
Total 1000 100%


Schedule of Due Dates

Week 1
Assignment Points Due
Introductions - Wednesday
FASB Codification Research 33 Sunday
Week 2
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Sunday
Exam 1 100
Week 3
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Sunday
Week 4
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Sunday
Exam 2 100
Week 5
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Sunday
Week 6
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Sunday
Exam 3 100
Week 7
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Sunday
Week 8
Assignment Points Due
FASB Codification Research 33 Friday
WileyPLUS Problems 48 Saturday
Exam 4 100
Total Points 1000

Assignment Overview

Homework Assignments

Homework assignments will consist of exercises/problems (48 points) for each assigned chapter. These exercises will be completed using WileyPLUS, the online resource associated with your text. This is a program that allows you to work the end-of-chapter material online and submit it for immediate grading and feedback. The actual exercises you need to work are listed on the Wiley website. (See the class “News”, section of D2L).You are allowed three attempts at each exercise, and the highest score will be recorded in the grade book. The deadline for each assignment block is 11:59 p.m. each Sunday evening (Saturday for the last week of class). Late homework is not accepted without prior approval from the instructorIt is highly recommended that you work on the homework well ahead of the due date, so questions are addressed before assignments are due.


Discussions

Introductions 

The first discussion in week 1 is for Introductions. Please introduce yourself to the class by Wednesday, 11:59 p.m. Feel free to respond to any other student’s posting. 

The other discussion, “General Discussion,” will be available for any topic related to the class throughout the eight-week session. Use of this discussion is neither required nor graded. Participation in this discussion is the equivalent of “raising your hand in class.” You are welcome and encouraged to use this forum to discuss any topic in the course. If you have a question, the instructor usually responds within 24 hours, but if you have something substantive to respond to another student’s question, by all means, contribute to the discussion. Your comments here will not be graded. If you wish to discuss something privately, use the CougarMail to contact the instructor.


Research

Professional Research: FASB Codification

Accounting professionals use the Codification as a valuable resource. We will use the FASB Codification to perform research related to each chapter. The first week will involve reading and learning how to use the Codification from the “Learning Guide for the Codification Research System” (Chapters 1 through 5, 9, 11 and 12). It’s located on the right-hand side of the front page of this address: https://asc.fasb.org. The purpose of using the Codification is twofold: (1) to acquire the knowledge, skills and ability to use this resource effectively and efficiently, and (2) to apply it to Accounting problems and issues.

There is one required research topic in each chapter of the textbook entitled (1) “Exercises” or (2) “Bridge to the Profession.” You will need to sign up for access to the FASB Codification to perform the research related to the week’s topic. The link for access to this resource is http://aaahq.org/ascLogin.cfm

The Password and Login is as follows:

  • Username – AAA61980
  • Password – SAC83pa

You will post brief answers to the questions with Codification references in the Dropbox which are worth a maximum of 33 points, for each of the 8 assignments. Your answer should be from the Codification and not the text. However, if you find additional information in the text to enhance your answer, include it with the page reference to the text. The “Exercise” or the “Bridge to the Profession” are due Friday, each by 11:59 P.M.

Your Research grade will be based upon the following criteria:

  • Your answers demonstrate an understanding of both the use of the Codification and assigned Principles in the Codification. You may not simply copy from the Codification, but rather you must interpret and explain its contents as it applies to the assignment.
  • Your answers must be in good form with correct spelling and punctuation.

Exams

There are four exams, one every two weeks. Exams will be taken in WileyPlus. Exams will be available no later than Thursday at 5:00 pm and are due the following Sunday at 11:59 pm, except Exam 4 that is due Saturday at 11:59 pm. Each exam will cover the last two chapters, except Exam 1 that will cover one chapter. Tests cannot be submitted after the due date without prior permission from the Instructor.

Collaboration with anyone (students, colleagues, professors, your accountant, etc.) is not permitted. The tests are of course open-book, but the work is to be exclusively your own. Discussion of test material with anyone is not allowed – See “Academic Honesty” in the “Student Conduct” section below.


STUDENT RESOURCES

Make sure you understand the concepts and where the numbers come from in the exhibits and problems. Practice quizzes with questions very similar in format and content to the actual exams are available for you to test your knowledge and become familiar with the exam layout. These quizzes are in WileyPlus.

WileyPlus also has many supplemental resources that may help you better understand the material. These resources are not required assignments, but rather supplemental material for your use. You’ll find most of these resources in WileyPlus. Go to the “Assignment” tab, and then click on the Chapter Readings and Resources. “If you're not ready to buy, you can try the course with full access for two weeks, free. E-text access is included.”

Examples of resources include the following:

  1. Orion is a learning module that will adapt to you as an individual student. It has proven to be an excellent learning tool when studying any chapter covered.
  2. Videos by chapter that have a “Problem Walk Through” for selected problems.
  3. Multimedia resources: Flash Cards that also have quizzes, Cross Word Problems, and a section of “Practice – Self Study.”

Navigation to these resources is as follows:

  1. Sign in to WileyPLUS;
  2. Click the link “This Course;”
  3. Click the link to “Read, Study, and Practice;”
  4. Click on the chapter you wish to study; and
  5. Pick the resource you would like to use.


Course Outline

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

Week 1: Learning and Using the FASB Codification
Readings
FASB Learning Guide for the Codification Research System
Introductions
Please post in the Discussions tab of D2L, a brief description of yourself, including, at a minimum, where you live, work and your hobbies. Include where and in what college or university you earned your undergraduate degree. Please post by Wednesday evening at 11:59 p. m.
FASB Codification Research

Codification Research “Exercise”, Ch. 4, CE4-1 through CE4-3, Due Sunday, 11:59 PM CT

This week concentrates on learning how to use the codification to research various accounting issues. In order to do this, we will begin by researching a topic you have learned in prior courses. Answer the Codification Research “Exercise” questions in Chapter 4 “Income Statement and Related Information,” and post your answers in the Dropbox. Be sure to properly reference your response from the Codification. Don’t refer to your text, but rather learn how to use the codification by applying it to this assignment.

Week 2: Revenue Recognition
Readings
Chapter 18 – Revenue Recognition (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case Ch. 18 (a) through (d), Due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignment and post your answers in the Dropbox.

WileyPLUS Problems
Chapter 18 - Brief Exercises (BE) 1-1 through 1-5; Exercise (E) 18-3 & 4, 18-7, 18-9 & 18-10; Problems 18-5 & 18-11, due Sunday, 11:59 PM
Exam 1

Chapter 18, Due Sunday 11:59 p.m. C.T.

Don’t forget to try the Practice Quizzes for Chapter 18 and review the resources in WileyPLUS.

Week 3: Accounting for Income Taxes
Readings
Chapters 19 – Accounting for Income Taxes (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case, Ch. 19 (a) through (c), due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignment and post your answers in the Dropbox.

WileyPLUS Problems

Chapter 19 BE 19-1 through 19-5; E 19-4 & 5, E19-8 & 9. E 19-12; P 19-4, P 19-6, due Sunday, 11:59 PM CT

Don’t forget to try the Practice Quizzes for Chapter 19 and review the resources in WileyPLUS.

Week 4: Accounting for Pensions and Postretirement Benefits
Readings
Chapter 20 Accounting for Pensions and Postretirement Benefits (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case, Ch. 20 (a) through (c), due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignments and post your answers in the Dropbox.

WileyPLUS Problems

Chapter 20 BE 20-1 through 20-6; E 20-5 & 6, E 20-8, 11 and 19; P 20-3 & 5, due Sunday 11:59 PM C.T.

Exam 2

Chapters 19 &20, Due Sunday 11:59 p.m. C.T.

Don’t forget to try the Practice Quizzes in Chapter 20 and review the resources in WileyPLUS.

Week 5: Accounting for Leases
Readings
Chapter 21 Accounting for Leases (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case, Ch. 21, (a) through (d), due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignments and post your answers in the Dropbox.

WileyPLUS Problems

Chapter 21 BE 21-1 through BE 21-5; E 21-4, E 21-9 & 10, E21-12, E 21-15; P 21-5, P 21-7, due Sunday 11;59 PM CT

Don’t forget to try the Practice Quizzes in Chapter 21 and review the resources in WileyPLUS.

Week 6: Accounting for Changes and Error Analysis
Readings
Chapter 22 Accounting for Changes and Error Analysis (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case, Ch. 22, (a) through (c), due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignments and post your answers in the Dropbox.

WileyPLUS Problems

Chapter 22 BE 22-4 through BE 22-7, BE 22-11; E 22-3, E 22-6 & 7, E 22-15, E 22-19; P 22-6, P 22-11, due Sunday, 11:59 PM CT

Exam 3

Chapters 21 and 22. Due Sunday, 11:59 CT.

Don’t forget to try the Practice Quizzes in Chapter 22 and review the resources in WileyPLUS.

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 Flows
Readings
Chapter 23 Statement of Cash Flows 9 (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case, Ch 23 (a) through (c), due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignments and post your answers in the Dropbox.

WileyPLUS Problems

Chapter 23 BE 23-1 through BE 23-5; E 23-10, E 23-11 E 23-16,

E 23-18 & 19; P 23-6, P 23-8, due Sunday, 11:59 PM CT

Don’t forget to try the Practice Quizzes in Chapter 23 and review the resources in WileyPLUS.

Week 8: Full Disclosure in Financial Statements
Readings
Chapter 24 Full Disclosure in Financial Statements (including IFRS Insights)
FASB Codification Research

“Bridge to the Profession” Codification Research Case, Ch. 24, (a) & (b), due Friday, 11:59 PM CT

Research the FASB Codification regarding all questions in the above assignments and post your answers in the Dropbox.

WileyPLUS Problems

WileyPLUS: Chapter 24 BE 24-1; BE 24-4 through BE 24-8; E 24-2, through E 24-5; P 24-1 and P 24-3, due Saturday, 11:59 PM CT

Exam 4

Chapters 23 and 24 Due Saturday, 11:59 PM CT.

Don’t forget to try the Practice Quizzes in Chapter 24 and review the resources in WileyPLUS.



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 will be accepted without prior permission from 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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