Syllabus

School of Business ACC/421 Version 6 Intermediate Financial Accounting I

Copyright 2011,2010, 2008, 2007, 2006, 2004, 2003, 2001 by University of Phoenix. All rights reserved.

Course Description This course examines the conceptual framework of accounting, including cash versus accrual accounting, the income statement and balance sheet, the time value of money, revenue recognition, statement of cash flows, and full disclosure issues. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: 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 Hunt, M. F., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007). Intermediate accounting problemsolving survival guide (12th ed. ,Vol. 1). Hoboken, NJ: John Wiley & Sons. Hunt, M. F., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007). Intermediate accounting problemsolving survival guide (12th ed., Vol. 2). Hoboken, NJ: John Wiley & Sons. Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007). Intermediate accounting (12th ed.). Hoboken, NJ: John Wiley & Sons. Kieso, D. W., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007). Intermediate accounting study guide (12th ed., Vol. 1). Hoboken, NJ: John Wiley & Sons. Kieso, D. W., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2007). Intermediate accounting study guide (12th ed., Vol. 2). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website.

Week One: The Accounting Environment

Details
Objectives 1.1 Explain the overall accounting cycle. 1.2 Apply accounting concepts to business situations. 1.3 Identify the roles and hierarchy of the various accounting governing bodies. Read Ch. 13 of Intermediate Accounting. Review this weeks Electronic Reserve Readings. Review this weeks study materials on the student website. Participate in class discussion. Four out of seven days of the week Sep 19, 2011 4

Due

Points

Readings

Individual Participation/DQs

Individual Accounting Cycle Paper Individual Assignments From the Text

Prepare a 700- to 1,050-word paper explaining the overall accounting cycle at your organization. Include a description of the people, processes, and systems that are integral to the cycle. Resource: Intermediate Accounting Write responses to Concepts for Analysis CA1-11 & CA1-12 in Ch. 1 of Intermediate Accounting.

Sep 19, 2011

Week Two: Income Statement and Revenue Recognition

Details
Objectives 2.1 Prepare single- and multiple-step income statements. 2.2 Apply the guidelines for revenue recognition to various business situations. Read Ch. 4 & 18 of Intermediate Accounting. Review this weeks Electronic Reserve Readings. Review this weeks study materials on the student website. Participate in class discussion. Four out of seven days in the week Sep 26, 2011 4

Due

Points

Readings

Individual Participation/DQs

Learning Team Assignments From the Text

Resource: Intermediate Accounting Write responses to Exercises E2-2, E2-4, and E2-7 in Ch. 2 and Exercise E3-5, Problems P3-5 and P3-9 in Ch. 3 in Intermediate Accounting.

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Week Three: Balance Sheet and Full Disclosure

Details
Objectives 3.1 3.2 3.3 3.4 Prepare a balance sheet. Explain the need for full disclosure in financial reporting. Identify items included in the notes to financial statements. Perform basic financial analysis using ratios.

Due

Points

Readings

Read Ch. 5 & 24 of Intermediate Accounting. Review this weeks Electronic Reserve Readings. Review this weeks study materials on the student website. Participate in class discussion. Four out of seven days in the week Oct 3, 2011 4

Participation/DQs

Individual Assignments From the Text Learning Team

Resource: Intermediate Accounting Write responses to Exercises E4-6 & E4-16; and Problem P4-3 in Ch. 4 and Exercises E18-4 & E18-5, and Problem P18-7 in Ch. 18 of Intermediate Accounting. Participation/Discussion Queston: Participate in Team Discussion Question-Participate 1 of 7 days in the week

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Oct 3, 2011

Week Four: Statement of Cash Flows

Details
Objectives 4.1 Prepare a statement of cash flows using the direct and indirect methods. 4.2 Explain the importance of the statement of cash flows. Read Ch. 23 of Intermediate Accounting. Review this weeks Electronic Reserve Readings. Review this weeks study materials on the student website. Participate in class discussion. Four out out of seven days. Oct 10, 2011 Oct 10, 2011 4

Due

Points

Readings

Individual Participation/DQs

Learning Team Assignments From the Text Learning Team Full Disclosure Paper

Resource: Intermediate Accounting Write responses to Exercises E5-5 & E5-12, and Problem P5-3 in Ch. 5 and Exercises E24-2 & E24-4 in Ch. 24 in Intermediate Accounting. Resource: Intermediate Accounting Write a 700-word paper addressing the following: Answer Question 2 in Ch. 24. Explain the need for full disclosure in financial reporting. Identify possible consequences of failing to properly disclose certain items in financial statements.

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Week Five: Time Value of Money

Details
Objectives Readings 5.1 Calculate present and future values. Read Ch. 6 of Intermediate Accounting. Review this weeks Electronic Reserve Readings. Review this weeks optional study materials on the student website. Participate in class discussion. Four out of seven days in the week Oct 17, 2011 By the end of Oct 17 2011 Oct 17, 2011 4

Due

Points

Individual Participation/DQs

Individual Assignments From the Text Individual Final Examination Preparation Learning Team

Resource: Intermediate Accounting Write responses to Exercises E6-5 & E6-10, and Problem P6-7 in Ch. 6 and E23-11 & E23-12 in Ch. 23 of Intermediate Accounting. Complete the Final Examination in the Week Five section of the student website. 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. Participation/Discussion Queston: Participate in Team Discussion QuestionParticipate one of seven days of the week.

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