2. There is no need to buy a printed version of the textbook. For an additional cost, you can purchase a
printed copy of the textbook; feel free to visit the online bookstore, Follett Express, or your campus
bookstore.
Course
Description This course deals with financial accounting practice and theory, including generally accepted
accounting principles (GAAP); the conceptual framework; accounting information systems, including
financial statement reporting and disclosures; the time value of money; cash controls; and accounting
and reporting for cash, receivables, inventories, and long-term assets. (Prerequisite: AC503 or AC505)
Terminal
Course DeVry University course content is constructed from curriculum guides developed for each course that
Objectives are in alignment with specific Terminal Course Objectives. The Terminal Course Objectives (TCOs)
define the learning objectives that the student will be required to comprehend and demonstrate by
course completion. The TCOs that will be covered in detail each week can be found in the Objectives
section for that particular week. Whenever possible, a reference will be made from a particular
assignment or discussion back to the TCO that it emphasizes.
The student should be able to understand the theory, objectives and conceptual framework
underlying financial statement reporting and be able to explain these concepts to other
accountants, managers and business people. The student will also need to understand the
A organizations (The Authority) that set accounting standards and how they develop the rules
(Generally Accepted Accounting Principles -GAAP) that guide practitioners in the preparation
of annual reports and financial statements.
The student should be able to understand and explain to other accountants, managers, and
business people the accounting process, as well as why and how a trial balance is used in the
financial statement preparation process. Additionally, the student should understand and be
able to:
Complete a multi-column worksheet with adjustments.
B Prepare financial statements from the worksheet data.
Journalize and post the adjusting and closing entries.
Prepare a post-closing trial balance.
Prepare and post reversing entries.
Utilize special journals and subsidiary ledgers where appropriate.
Differentiate cash basis from accrual basis accounting.
The student should be able to understand and explain to other accountants, managers and
business people, the income statement and the related statement of stockholders' equity.
C The student should also be able to prepare the income statement and the related statement of
stockholders' equity, be able to categorize the sections and subsections and distinguish and
report regular and irregular income statement items. The student should be able to prepare a
reconciliation of retained earnings and calculate basic earnings per share.
The student should be able to understand and explain to other accountants, managers, and
business people the balance sheet, its elements and the classifications of asset, liability, and
D equity subsections. The student should be able to identify the limitations of balance sheet
information and the purpose of notes, supporting schedules, supplemental information and
disclosures.
3. The student should be able to understand and explain to other accountants, managers and
business people the time value of money concept. The student should also be able to use the
E concept in the analysis and recording of transactions, and in the preparation of the financial
statements.
The student should be able to understand and explain to other accountants, managers and
business people the current assets, cash and receivables. The student should also be able to
F understand and explain the management of cash and accounts receivable using internal
control systems and bank reconciliation of cash and the recognition tools as well as the
valuation and disposition of accounts and notes receivable.
The student should understand and be able to explain to other accountants, managers and
business people the information about a company's inventory transactions. The student's
G understanding and explanation should include the valuation of inventory (cost basis approach
and additional valuation approaches); the flow of inventory costs through the accounting
system and the effect of inventory on financial statement reporting.
The student should understand and be able to explain to other accountants, managers and
business people the information about a company's property, plant and equipment (long-lived
H asset) transactions. The student's understanding and explanation should include the
acquisition, depreciation and disposal of long-lived assets along with their effect on financial
statement reporting.
Blended
eLearning
This course is an eight week, intensive course that includes both classroom-based and eLearning
activities. Your participation in both areas is essential to your success in this course. You should expect
to spend time each week participating in the prescribed activities both before and after our class
meeting.
Participation before, during, and after class meetings is critical to your success in this intensive
environment.
To get the most out of our weekly class meetings, it is essential that you come to class prepared. The
weekly readings listed in the Course Schedule will prepare you for class. Our class meetings, in turn,
will prepare you for upcoming exams and assignments.
Through the DeVry eLearning Platform, you will be able to:
review the Syllabus and weekly assignment information;
submit completed work for grading;
take quizzes and exams;
obtain copies of class handouts and notes;
e-mail the instructor and other students; and
participate in online discussion of class material.
Course
Specific
1. Discussion Participation
Requirements
In the Discussion area, you will be asked to either comment on a question concerning the area you are
studying that particular week, do some computations based on problems or cases in the course text, or
answer the discussion question concerning the topic for the chapter under discussion for the week. You
are required to perform the work outlined in each section. If you are asked to comment on a question,
then you should have four posts related to the either the question posed by your instructor or the
4. comments posted by your fellow students. If you would like the instructor to review any work that was
done in the exercise room, you may request the instructor to do so. Otherwise, the instructor will not
offer any comments on the work that you have done.
To earn the maximum number of points for discussion questions, you must post on four separate days..
There is a discussion grading rubric that is under the doc sharing tab. Please look this over before
class, and we will go over it in on the first night of class.
See Due Dates for Assignments and Exams below for details when posts are due.
2. Mid Term: The midterm will be an online exam, taken during the fourth week of class.
3. Project Submissions
The project in this class consists of preparing a comprehensive balance sheet and a multi-step income
statement. As noted in the Assignment Values and Letter Grades section below, the project is worth
15% of your grade. This will be due in Week 7.
Week 7- Project is due.
Good form means submissions must be in Excel, (with proper headings and formulas). The work is to
be submitted in the Dropbox as an attachment. The file name of the attached file must be in the
following format: Last Name, Class, Week 8, Project – Balance Sheet and Income Statement.
Warning: Do not post your assignment to Doc Sharing. Any projects posted there will automatically
receive a zero. Furthermore, anyone who accesses any projects accidentally posted to Doc Sharing will
also receive a zero. No exceptions will be allowed.
If you post any document other than the assigned problem/project for this course (such as homework
from another course you are also taking this session), no points will be earned and the assignment will
be recorded as zero points/"not received." No exceptions will be allowed, so it is recommended that you
always check your outbox to ensure that the assignment was posted on time, and that it was the file
that you intended to submit.
4. Final Exam: The final exam will be 50% online, and 50% in class. The in class portion of the final will
be a closed book, closed note exam. It will be a comprehensive exam, covering all of the chapters. The
closed book in class portion exam is done this way, as the CPA exam is a closed book, closed note
exam.
Course
Schedule
Week, TCOs, and
Readings and Class Preparation Activities and Assignments
Topics
Chapter 1: Financial Accounting and
Accounting Standards
Week 1
TCOs A & B Homework
Chapter 2: Conceptual Framework
Underlying Financial Accounting
U.S. GAAP Graded Discussion Topics
Chapter 3: The Accounting Information
5. System
Week 2
TCO C Homework
Chapter 4: Income Statement and
Related Information Graded Discussion Topics:
The Income
Statement Begin discussion of project
Week 3
TCO D Homework
Chapter 5: Balance Sheet and
Statement of Cash Flows
Graded Discussion Topics
Balance Sheet
Week 4
TCOs E & F Homework
Chapter 6: Accounting and the Time
Time Value of Value of Money Graded Discussion Topics
Money
Chapter 7: Cash and Receivables Midterm Chapters 1 through 7, online.
Cash and
Receivables Project updates
Week 5 Chapter 8: Valuation of Inventories: A
Cost-Basis Approach Homework
TCO G
Chapter 9: Inventories: Additional Graded Discussion Topics
Inventories Valuation Issues Project questions
Week 6
TCO H Homework
Chapter 10: Acquisition and Disposition
of Property, Plant, and Equipment Graded Discussion Topics
Property, Plant
and Equipment Project Questions
Week 7
TCO H Homework
Chapter 11: Depreciation, Impairments
Depreciation, and Depletion Graded Discussion Topics
Impairments and Course Project Due
Depletion
Week 8 Final Exam
All TCOs Closed book and closed notes, comprehensive final.
Due Dates for
Assignments
All assignments, quizzes, and exams are to be completed per the schedule indicated by your instructor.
& Exams
LATE POLICY: No assignments will be accepted late.
All assignments must be completed on line or put in the drop box no later than Sunday, 12 pm
MST. There will be no exceptions. However, I recognize that certain things can happen in life. If
an item comes up, for you, that would be recognized as an Act of God,ie, something you can
"prove" with paperwork, that has happened. I will take each item, on a case by case basis. An
6. Act of God, is not considered to be any of the following: Printer or computer problems, 99% of
work situations, and car problems are not included!
The midterm will be an online exam, to be taken during week 4.
The final exam will be a closed book, closed note exam. It will be a comprehensive exam,
covering all the chapters that we have covered. The reason for the closed exam, is that the CPA
exam, is a closed exam.
The project is due the end of week 7 in the drop box. No Exceptions.
We will also go over the project each week, starting with week 4. That will enable you to get
your questions answered, that you may have.
Assignment
Values and
The maximum score in this class is 1,000 points. The categories, which contribute to your final grade,
Letter Grades are weighted as follows.
Assignment Points Weighting
Discussions 140 14%
(20 Pts, Weeks 1–7)
Project (Week 7) 150 15%
Midterm Exam (Week 4) 200 20%
Final Exam (Week 8) 300 30%
Homework Assignments 210 21%
(30 Pts, Weeks 1-7)
Total Points 1,000 100%
All of your course requirements are graded using points. At the end of the course, the points are
converted to a letter grade using the scale in the table below.
Letter Grade Points Percentage
A 930 – 1,000 93% to 100%
A- 900 – 929 90% to 92.9%
B+ 870 – 899 87% to 89.9%
B 830 – 869 83% to 86.9%
B- 800 – 829 80% to 82.9%
C+ 770 – 799 77% to 79.9%
C 730 – 769 73% to 76.9%
C- 700 – 729 70% to 72.9%
D+ 670 – 699 67% to 69.9%
7. D 630 – 669 63% to 66.9%
D- 600 – 629 60% to 62.9%
F 599 and below Below 60%
Discussion
Requirements
In the Discussion areas of the course, you, as a student, can interact with your instructor and
classmates to explore questions and comments related to the content of this course. Discussions will
always closeSunday, 11:59 p.m. (MT).
A successful student in online education is one who takes an active role in the learning process. You
are, therefore, encouraged to participate in the discussion areas to enhance your learning experience
throughout each week both before and after our class meeting.
The discussions will be graded for:
1. Frequency – the number and regularity of your contributions. Students are expected to log into the
course and post (respond) in each graded Discussion topic on a minimum of three different days a
week. In order to earn full credit, you will have to post (respond) on four different days a week.
2. Quality –Content of your contributions. Examples of quality posts include:
providing additional information to the discussion;
elaborating on previous comments from others;
presenting explanations of concepts or methods to help fellow students;
presenting reasons for or against a topic in a persuasive fashion;
sharing personal experiences that relate to the topic; and
providing a URL and an explanation for an area you researched on the Internet.
Full credit is awarded when both high quality and required frequency are met.
For policy on discussions (and all other policies), please review the information contained in Policies
under the Course Home section of your course.
Pllease also see the grading discussion rubric under the Doc Sharing tab.
Plagiarism and
Keller
Graduate
Plagiarism & Citations
Citations
Plagiarism is a violation of the Academic Integrity code of this institution and will not be tolerated. The
plagiarism policy applies to every aspect of your coursework including threaded discussions, exams,
quizzes, essays, assignments, etc. It is important that students fully cite any outside ideas, text and
visual aides they reference in that work.
If you copy from, rely on, or paraphrase from your text or from any other source, you must include in-
text citations. For any source other than your text, you must also include the proper reference material
including the full URL and date accessed if the source is the web. Failure to do so is a violation of
DeVry Academic Standards. Instructors are required to follow the DeVry Academic Integrity
policy. Refer to your student handbook for details.
As a part of our commitment to academic integrity, your work in this course may be submitted to
turnitin.com, an online plagiarism checking service. Turnitin.com operates a secure database and
8. protects your privacy by assigning report numbers to all student work stored in its database. The
purpose of using this service is to help protect the integrity of a DeVry degree, which in turn helps to
protect your work and your investment in a DeVry education. See Turnitin.com for more details.
How to Avoid Plagiarism
Style Guide
Keller Graduate School of Management of DeVry University recommends all
graduate students purchase and make use of the official style guide entitled, Writing
the Research Paper: A Handbook, 7th edition, by Anthony C. Winkler and Jo Ray
McCuen. This handbook includes information on the following styles: APA, MLA,
CEE, CMS, and Columbia Online. Students can use any of these five styles
unless otherwise instructed to use one of them exclusively.
Students who have purchased the University's previous official style guide entitled,
The Business Student Writers Manual and Guide to the Internet, by Thomas P.
Bergman, Stephen M. Garrison, and Gregory M. Scott, will NOT be required to
purchase another style guide. The new style guide is available through the online
bookstore, Follett Express.
Below are two tutorials covering two of the five acceptable styles:
APA Guidelines
APA Guidelines for Citing Sources
This tutorial provides a resource for citing references in papers using the current
edition of the Publication Manual of the American Psychological Association.
The following is covered within the tutorial: the purposes of APA documentation,
guidelines and examples on how to cite original sources in the text of your paper
using parenthetical citations, and how to format the reference list and an entire paper.
MLA Guidelines
MLA Guidelines for Citing Sources
MLA style provides writers a system of cross-referencing their sources and protecting
them from accusations of plagiarism. This tutorial goes over the purposes of MLA
documentation, as well as methods and examples for using parenthetical citations,
and how to format a Works Cited page.
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