Syllabus ACC/497

School of Business ACC/497 Version 6 Advanced Topics in Accounting Research

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Course Description This course in accounting research provides students with an in-depth examination of the Generally Accepted Accounting Principles (GAAP) and acceptable alternative reporting practices. Through comprehensive case studies, students will develop the research application skills necessary to analyze and make decisions regarding accounting reporting dilemmas in for-profit and not-for-profit companies. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: y y University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum.

University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Boynton, W. C., & Johnson, R. N. (2006). Modern auditing (8th ed.). Hoboken, NJ: Wiley. Phillips, F., Libby, R., & Libby, P. A. (2011). Fundamentals of financial accounting (3rd ed.). New York, NY: McGraw-Hill. Pope, T. R., Anderson, T. E., Kramer, J. L., Bandy, D. D., Ford, N. A., Gardner, R. L., . . . Schadewald, M. S. (2011). Prentice Hall's federal taxation 2011. Individuals. Upper Saddle River, NJ: Pearson Education. Schroeder, R. G., Clark, M, W., & Cathey, J. M. (2011). Financial accounting theory and analysis: Text and cases (10th ed.). Hoboken, NJ: Wiley. Wallace, W. A. (2008). Mastery of the Financial Accounting Research System (FARS) through cases (2nd ed.). Hoboken, NJ: Wiley. Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2010). Managerial accounting: Tools for business decision making (5th ed.). Hoboken, NJ: Wiley. All electronic materials are available on the student website.

Syllabus ACC/497

Week One: Advanced Financial Accounting Topics

Details
Objectives 1.1 Conduct accounting research using the FASB Codification System. 1.2 Describe the development of Generally Accepted Accounting Principles (GAAP). 1.3 Interpret financial statements for business decisions. Read the Week One Read Me First. Read Ch. 1, 2, & 4 of Financial Accounting Theory and Analysis: Text and Cases. Read this weeks Electronic Reserve Readings. Participate in class discussions. Review the University of Phoenix Material: Sample Final Examination in preparation for the final examination in Week Five. Note: The final exam in this course is a comprehensive exam that covers content from the core courses in the BS Accounting program. The Sample Exam in this week should have prepared you for the final exam that you will take in week five. You are encouraged to complete this exam as practice prior to completing the final exam. Individual FASB Codification System Orientation Paper Resources: FASB Codification System website accessible through the FASB Online link located on your student website Access to the FASB Online website and familiarize yourself with the contents. Write a 350-word paper in which you answer the following questions: y y y What is the FASB Codification System? What is the purpose of the FASB Codification System? What are the nine content areas located in the FASB Codification System? What types of items are located under each content area? 10 4

Due

Points

Readings

Participation Nongraded Activity

Format your paper consistent with APA guidelines.

Syllabus ACC/497

Week Two: Management Decision-Based Accounting

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Objectives 2.1 Determine the impact of international accounting standards on business decisions. 2.2 Critique non-financial performance measures. 2.3 Recommend a course of action based on financial performance. Read the Week Two Read Me First. Read Ch. 3 of Financial Accounting Theory and Analysis: Text and Cases. Read Ch. 1 of Managerial Accounting: Tools for Business Decision Making. Read this weeks Electronic Reserve Readings. Participate in class discussion. Resources: Appendix A: The Home Depot, Inc. Annual Report in Fundamentals of Financial Accounting Write a 1,050- to 1,750-word paper in which you answer the following questions: y What does the Consolidated Statements of Earningsthe income statementtell you about the company? Why is this statement important? What business decisions could be made using the income statement? What does the balance sheet tell you about the company? Why is the balance sheet important? What business decisions could be made using the balance sheet? What does the statement of cash flows tell you about the company? What business decisions could be made using the statement of cash flows? What information is provided in the statements that will assist you in making these business decisions? What information is not provided that could assist in managerial decision making? 4 5

Due

Points

Readings

Participation Individual Financial Statements Paper Part I

Format your paper consistent with APA guidelines. *PLEASE READ: You need to use The Home Depots financial statements data to support your answers. Learning Team Case Study Assignment Resources: Ch. 1 & 2 of Financial Accounting Theory and Analysis Write a 350-word response for each of the following cases answering the questions located at the end of each case. y Case 1-3 Politicization of Accounting Standards in Ch. 1 y Case 1-4 Generally Accepted Accounting Principles in Ch. 1 y Case 2-2 The Theoretical Foundation of Accounting Principles in Ch. 2 *PLEASE READ: You need to answer each question separately. Use question/answer format 5

Syllabus ACC/497

Week Three: Tax Planning and Research

Details
Objectives 3.1 Conduct tax research. 3.2 Formulate tax-planning advice. Read the Week Three Read Me First. Read Ch. 1 & 15 of Prentice Halls Federal Taxation 2011. Read Ch. 12 of Financial Accounting Theory and Analysis: Text and Cases. Read this weeks Electronic Reserve Readings. Participate in class discussion. Resources: Appendix A, The Home Depot, Inc. Annual Report in Fundamentals of Financial Accounting Write a 1,050- to 1,750-word paper in which you address the following: y Does managements assessment of the financial condition agree with your assessment from the Financial Statements Paper Part I? Explain your response. Support your answer using trend analysis, vertical analysis, or ratio analysis. In the Annual Report, there are several concerns from management. Discuss these concerns, and identify other weaknesses not discussed by management. Then, recommend a course of action addressing these concerns. 4 5

Due

Points

Readings

Participation Individual Financial Statements Paper Part II

Format your paper consistent with APA guidelines. *PLEASE READ: You need to use The Home Depots financial statements data to support your answers. Individual Assignments From the Readings Resources: Ch. 1 of Managerial Accounting: Tools for Business Decision Making Prepare a written response to the following exercise: y Exercise 17 (E1-17) at the end of Ch. 1 In order to earn credit for your responses you need to provide your calculations for each account: Raw Materials, WIP, Finished Goods, COGs, and Selling Expenses. Resources: Ch. 1 of Managerial Accounting: Tools for Business Decision Making. Write responses to the following assignment: y Broadening Your Perspective, Managerial Analysis (BYP1-2) at the end of Ch. 1 Resources: Case 3-5: International versus U.S. Standards in Ch. 3 of Financial Accounting Theory and Analysis Write a 350- to 700-word response to the questions located at the end of the case study. 5

Learning Team Assignment From the Reading

Learning Team Case Study Assignment

Syllabus ACC/497

Week Four: Auditing Environment

Details
Objectives 4.1 Identify the risk and liability factors in financial statement audits. 4.2 Relate the implications of the Sarbanes-Oxley Act to the auditing environment. Read the Week Four Read Me First. Read Ch. 4 & 5 of Modern Auditing: Tools for Business Decision Making. Read Ch. 17 of Financial Accounting Theory and Analysis: Text and Cases. Read this weeks Electronic Reserve Readings. Participate in class discussion. Resources: Ch. 1 of Prentice Halls Federal Taxation Respond to the following problems by conducting tax research and including tax-planning advice: y y Learning Team Assignments From the Readings I:1-48 Tax Strategy Problem I:1-49 Case Study Problem 5 4 5

Due

Points

Readings

Participation Individual Assignments From the Readings

Resources: Ch. 15 of Prentice Halls Federal Taxation Conduct tax research and formulate tax-planning advice in your response to the following problems: y y I:15-61 Tax Strategy Problem I:15-62 Case Study Problem

Syllabus ACC/497

Week Five: Organizational Reporting

Details
Objectives 5.1 Compare and contrast for-profit and not-for-profit reporting guidance. 5.2 Differentiate between governmental and financial reporting. Read the Week Five Read Me First. Read this weeks Electronic Reserve Readings. Participate in class discussion. Resources: Ch. 4 & 5 of Modern Auditing Write answers to the following problems: y Learning Check 415 & 417 in Ch. 4 y Comprehensive Questions 534 & 535 in Ch. 5 Please submit your answers for each question in an answer/question format. Note: Learner assignments submitted after the last day of class will not be accepted Click the link to the Final Examination on your student website available from the end of Week Four through the end of Week Five. Complete the Final Examination. You are allowed one attempt to complete the exam, which is timed and must be completed in 3 hours. Results are auto graded and sent to your instructor. Resources: Case 3: Charitable Contributions and Debt: A Comparison of St. Jude Childrens Research Hospital/ALSAC and Universal Health Services located on your student website in Ch. 5 of Mastery of the Financial Accounting Research System (FARS) through cases Write a 1,050- to 1,400-word response in which you address the following questions from the case study: y Questions from Requirement A y Questions from Requirement B y How would your answers to Requirements A and B differ if the government owned and operated the hospital? Format your paper consistent with APA guidelines. Learning Team Case Study Presentation Create 5- or 6-slide Microsoft PowerPoint presentation with speaker notes illustrating your findings to Case 3, Charitable Contributions and Debt: A Comparison of St. Jude Childrens Research Hospital/ALSAC and Universal Health Services in Ch. 5 of Mastery of the Financial Accounting Research System (FARS) through cases. *The # of slides required for this presentation (5-6) does not include your cover/title & references slides. 5 4 5

Due

Points

Readings

Participation Individual Assignments From the Readings

Individual Final Examination

15

Learning Team Case Study Assignment

Syllabus ACC/497

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