Department
of Economics & Management
E/M-231-001
Fall
2001
Note: It is the responsibility of each
student
to read and understand this syllabus
Effective:
9/5/01
Course Number and Name: E/M-231 Intermediate Accounting I
Delivery Mode: Class, Text, Internet, Multi-media &
Related Assignments
Prerequisites: E/M-130
Financial Accounting
Semester: Fall 2001, September 5 thru December 18, 2001
Sections: One Scheduled
Meeting Times & Places: 11:30-12:20 OHS 220
M T W R F
(Note:
See Course Schedule for specific dates.)
Professor: Professor/Mr.
(Michael) Klimesh
Office: Social Sciences Center (SSC) 104A
Office Hours: M T W R 1:30-2:20, W
10:30-12:00
and by appointment
Phone: Office:
E-mail: mklimesh@gac.edu
Course
Description:
This course
investigates principles used to value assets, liabilities, revenues, and
expenses. Proper financial accounting Reporting and Disclosurea are stressed.
Accountants are in
an information business. Accounting
reports are used by creditors to decide whether or not to make a loan; by
investors to decide whether or not to buy or sell or hold a security; and by
managers to assess performance and plan future actions. Governments use accounting information for
tax purposes. Employees and other
stakeholders also use accounting information.
Accounting is not
an exact science. Varied accounting
treatments and estimates may be allowed under Generally Accepted Accounting
Principles (GAAP). Similar firms may
report different incomes and financial positions. (And internationally reporting and disclosure differences can be
even more pronounced.)
This course takes
a ‘big picture’ approach. We will look
at the accounting environment, accounting choices, the meaning of the numbers,
and understanding the accounting reality.
The textbook and
related course content is packed with information. Every word counts and multiple topics are inter-twined. Very intense attention to detail is required.
The course
requires learning and understanding accounting terms and concepts. More importantly it requires problem solving
and decision-making. Balanced books are
necessary, but sound decisions are critical.
This course is
preparation for succeeding higher level accounting, finance and management
courses, and it is required for students who plan to sit for the C.P.A. or
C.M.A. examinations.
Course
Objectives/Learning Outcomes and Competencies:
At the end of the
course the student should have a solid working understanding of the subject, be
familiar with the various types of related functional situations and with the
terminology, be able to competently apply and practice the concepts, and be
able to intelligently read and interpret and use subject information.
Subject mechanics,
understanding, practice, interpretation, communication and decision making are
all elements of this course.
Caution: The
materials in this course are progressive and build on previous material. It is essential that students acquire and
maintain competency in the subject matter progressively throughout the course.
The primary
objective of this course is the development, analysis and communication of
subject information and timely decision making based on the relevant
information. Students must learn the
principles, procedures, and terminology of the subject.
Examination
material is selected to test the accomplishment of the course objectives and to
test the individual competency and proficiency of students in the subject
matter.
Course
Materials:
Required:
Textbook: Intermediate Accounting (2nd)
(including ‘CD-ROM’)
Authors: Spiceland*Sepe*Tomassini
Publisher: Irwin/McGraw-Hill
ISBN: 0-07-229842-1
Calculator: A good Calculator is required.
Pencil(s): with black lead. Have several.
Use only dark black.
Red, Green or other colored ink and pencils
is
reserved to the professor!!!
Thank you! J
Eraser(s) As
necessary.
Ruler(s)
Useful for doing neat work.
Note: Have your own calculator, pencils
(and sharpener if needed), erasers and rulers.
No sharing is allowed during exams.
Computer(s): Access to text processing and spreadsheet
programs, internet and such is required.
Floppy discs will be useful for storing your work
and for making back-up copies.
Note: All Hand-in work must be computer processed and printed.
Proper paper: Proper paper is standard
white 8-1/2x11 size paper. Work
submitted on any other paper will not be accepted. This is a business course and business expects the use of proper
business paper. Work must be neatly
completed in good form and format.
Course
Schedule:
See attached
Course Schedule.
Class
Procedure:
Generally chapters
and material will be covered during class periods as shown on the accompanying
course schedule.
Most chapters will
take four (sometimes three) class sessions.
New chapters will
start with a lecture related to their importance, relationship to material
already covered and importance to future work.
Class sessions
will start with a general review of the preceding class material and a question
and answer period. Then the new
material for the day will be explained and discussed.
Typically, the
first day on a new chapter will be devoted to lecture. The second day will be devoted to continuing
the chapter and discussion, and some exercises and problems will have been
assigned for students to start practicing and applying the concepts and procedures
in the text. The third and fourth days
on a chapter will concentrate on reviewing some problems in class, clearing up
any issues raised by students, and exploring extensions of and variations of
assigned problems and cases. The
problems we will concentrate on will normally be from those assigned on the
course schedule. Note: All Hand-In work must be computer processed and printed. We will review and discuss the Hand-In
problems and cases during the last class session for a chapter. Handed-In work will be recorded and returned
within a week.
In each chapter
there is a Financial Reporting Case at the start of the chapter. We will start each chapter by looking at the
issues in that case.
In each chapter
there are ‘Concept Review Exercises’.
Be prepared to discuss these.
They will be reviewed and discussed as they are reached in each chapter.
Class
participation is expected. This
includes students asking questions, answering questions and presenting
solutions in class.
Be prepared for and
expect discussion and question and answer activities in classes. This hones communication skills expected in
the workplace.
There may be some
assignments requiring in-class work.
There will be some
assignments requiring materials other than the textbook.
Students have a
responsibility to prepare for class.
Reading, study and homework assignments are to be done before
class. Be prepared for discussion and
participation.
Students may be
called upon randomly throughout any class session.
There are reading
and/or problems and cases homework for every class period.
Class/Course
Behavior:
Academic Honesty
is expected in this course.
The course and
exams are aimed at developing and testing student individual competence.
Students may find
collaborative efforts useful and acceptable in their general study schemes and
for certain course requirements.
Different people learn in different ways – listening, reading, doing,
discussing, practicing, ‘surfing’, etc…
Use your best combination of means – by all means. The final measurement and exams, however,
will rely solely on individual competence and proficiency.
Plagiarism is not
acceptable. If you use any specific
resources in your work identify the source.
Behavior that is
disruptive to the class, your fellow students or the professor will not be
tolerated in class. Appropriate corrective action will be promptly taken.
Students will form
Decision Teams of 2 (recommended) or 3 students for Homework
Problems/Cases Solutions to be Handed In and for the Portfolio
Project (see later in the syllabus).
It is my belief
and experience that there is great synergistic (the end result is much greater
than the simple sum of the parts) potential in Teamwork. The work place expects teamwork and this
presents a useful learning opportunity.
The intent is that all work will be jointly done and discussed by the
team members. You will not benefit and
learn if you subvert the intent. You
may get the assignment handed in with your name on it but you will not learn
either team participation or responsibility or the material for the major
exams.
The expectation is
that all team members will participate and contribute to the work effort. In the end analysis the exams will be the
final arbitrator of participation and the learning that took place.
Make sure you form
a team that can work together and that can schedule mutually convenient work
time.
Once teams are
selected they will stand for the duration of the course.
All team members
will receive the same grade for team work.
If a team
encounters problems relating to proper functioning, participation or
inter-personal relationships the professor should be informed immediately.
If a team member
drops the course after they are into the semester the remaining team member(s)
will likely continue, but we can evaluate any situations as they might arise.
At the end of the
semester you will each, individually, submit a brief statement on how the team
and each team member – including yourself – worked.
Homework:
HOMEWORK is all
work assigned to be done outside of class.
HOMEWORK is
important for students to practice the subject and learn the materials for
exams.
HOMEWORK problems
and solutions will be reviewed in class as specified and to the extent
practical.
HOMEWORK solutions
must be completed before class.
HOMEWORK
problems/cases are not to be done during class.
Do not do more
than one problem or exercise on a sheet of paper. Always start a new problem, case or similar work on a new
sheet. Use only one side of a sheet.
Homework is to be
done in good form and format on proper paper and stapled as necessary in the
upper left corner (no paper clips or bent over corners).
Homework must be
computer processed and printed.
Exams are to be
done neatly – only in black pencil.
Clearly
identify all of your work with your Name (family(last) name first), Student
Number, Course and Section, Problem/Case, Date Due – each
on separate lines – in the top right corner of each problem/case or
other assignment. Each page must
have this identifying information, except that a major paper or project that
has a proper cover page and is properly bound may be identified only on the
cover page.
991234
E/M-231-001
Ch.
1 P 2
September
7, 2001
Assignments may be
made from the Questions (Q), Exercises (E), Problems (P), and Broaden Your
Perspective Cases (C) at the end of the chapters.
Note: Exhibits and illustrations in the
chapters provide the framework for proper format and presentation of exercise
and problem solutions and related assignments.
Homework is
intended for personal learning and for personal preparation for exams. As you can see in the Grading section, later
in this syllabus, grades are earned primarily based on individual competence
and proficiency as evidenced on exams.
Homework is assigned to aid student learning. Your professor’s benefit from your homework is some understanding
of how you are applying yourself and progressing and some understanding of
areas that may require additional coverage, emphasis or reinforcing.
You may mark your
own work (computer processed and printed) as it is reviewed in class. Students are encouraged to mark their work
liberally so that, for future reference and for studying for exams, course
content that presented difficulties can be clearly identified.
Regular Hand-In
Homework (computer processed and printed) will be graded in class:
Totally correct
final answer, complete good form and format =
100
One or two very
minor errors or shortcomings =
95
Several minor
Error(s) or irregularity(s) = 90
Some significant
errors but over-all proper approach =
80
Major error(s) or
irregularities = 70
Many, many deficiencies in the attempted solution = 60
Fatal
deficiencies/very weak effort, not attempted/handed in= 0
You can know your
homework results asap with this approach.
You can deal with
any errors or questions right now.
Your grading will
be reviewed before it is recorded.
The lowest two or
missing home works will be eliminated when figuring the course grade.
Late work will not
be accepted.
Work not computer
processed and printed and not on proper paper will not be accepted.
This course has a
web site.
<www.mhhe.com/spiceland2e>
On that site
students can find a variety of useful resources.
ALSO: The ‘Coach’
CD includes useful resources and an ‘interactive quizzes’ feature.
Competence
Building and Practice:
In and at the end
of the chapters there are several types of practice and competence building
materials – Questions, Exercises, Problems, Cases, etc. Students can use these sections to positive
advantage toward becoming competent in the course materials.
Note: Materials
that you have self-studied and have not had success with may be submitted for
explanation and discussion in or after class.
Students are
strongly encouraged to take meaningful notes of lectures and to outline key
chapter content.
Assignments:
Readings, study,
homework – exercises, problems, etc. – are the course assignments to be done as
shown on the accompanying schedule.
Learning this
subject requires an investment of time and effort. Recognize this, accept it, and schedule your time accordingly.
Information Technology (IT)
There is
considerable opportunity to use computers, Internet and ‘CD’s’ in this course.
Portfolio
Project:
A Decision Team
Project is assigned for this course.
This should be the
same team you have identified for homework.
The project will
focus on two stock exchange companies.
The instruction
are in a separate document and important dates are given in the course
schedule.
Attendance:
Class attendance
is expected because this is you primary contact with the professor,
presentation of materials, opportunity to ask questions and have issues
clarified, etc.
Attendance will be
taken and logged for the benefit of all.
Class will start
on time and run for the scheduled period.
Attendance is
taken at the start of class. Please
arrive prior to the starting time for class.
Late arrivals disrupt the proper conduct of the class and will be
missing material covered in class.
Attendance will be logged as Present or Absent. It is not acceptable behavior to leave class
after it has started and attendance has been taken. “Present” means present for the entire class period.
This is a business
class. Assume you are in business and
on the job. On the job on-time
attendance is required for the start of work, meetings and other needs for the
proper conducting of business. If your
professor were your supervisor or boss on the job would you arrive late or turn
in sloppy work?
Exams:
Be prepared to
answer multiple choice questions, essay and short answer questions, problems,
cases and exercises – conceptual, theoretical, applications, integrative,
computational, interpretive, descriptive.
Present all
computations clearly and well labeled.
Problem solutions must include
all work that developed the answer.
Failure to show all work and computations will result in
down-grading. Partial credit may be
earned on an incorrect answer if the grader can follow the work and can see
where and what kind of an error was made.
Exam materials
will be primarily from materials covered in the textbook chapters and relevant
and assigned appendixes. But…Any lecture material or material that is otherwise
part of the course is perfectly legitimate examination material.
Exams will be
individual effort and closed book and limited notes as specified by the
professor.
Academic honesty
is expected.
In this course you
are allowed to have and use in the major exams:
Any notes taken
in class or otherwise prepared during the course. Only notes in your own handwriting are allowed – no photocopies,
textbooks, or printed materials.
Any tables or
schedules needed for an exam will be supplied with the exam.
Any violation of
these guidelines will result in confiscation and destruction of the material in
question.
The penalty for
unauthorized materials and failure to follow instructions, including
plagiarism, is severe.
EXAMS are to be
taken as scheduled.
For exams you will
need your own calculator and/or computer, pencils (not pens)(and pencil
sharpener if you need one), erasers, rulers and knowledge of the subject and
any other specified and allowed material.
Exams will be
issued with plenty of paper for answers and calculations, but students who do
an exam using a computer (if such a situation might arise) must supply the
printer paper.
Course
Grading: Example____
Weight Grade Wt’d.
EXAM I 15% 75
11.25
EXAM II 15 88
13.20
EXAM III 20 93
18.60
FINAL EXAM (Comprehensive) 25 94
23.50
Problems/Cases 10 91 9.10
Portfolio Project 15 93
13.95
100% 89.60
Final grade could
be an ‘A’ if attendance and participation are good and because exam grade trend
is up.
Grade trends are
important. Consistently high and
similar grades indicate a high level of effort, achievement and
understanding. Trends also tell a
story. Consider the following two
examples using five grades weighted equally.
74 75
80 85 85 Total 399 avg. 79.8
90 85
80 75 70 Total 400 avg. 80.0
The first example
shows improving mastery of a progressive subject and may earn a B grade. In the second example the early high results
appear questionable in light of evidence of limited and decreasing mastery
considering the cumulative nature of the subject and will likely receive a C
grade.
This course is
graded based on the actual grades earned by students on exams. There is no curve for grading in this
course.
‘Participation’
for this class is defined as the meaningful interaction of students during
class sessions, answering questions, asking relevant questions, paying
attention, arriving on time – not being late, not being disruptive or
distracting in class, etc.
Participation is at least partly in the eye and observation of the
professor.
Participation is
important. You will learn more as you
practice expressing your thoughts, and your professor will get a better understanding
of your level of competence.
“Continuous
Improvement” counts in this course.
“Never, ever, give
up!”
FINAL GRADE
Guideline
Scale 90-100
= A range
80-89.99
= B range
70-79.99
= C range
60-69.99
= D range
<60 = F
NOTE: This
syllabus and class schedule are subject to change to meet the needs of the
class.