Saint Louis University
John Cook School of Business
1.
ACCT 311
Syllabus
Course Number and Title:
Accounting 311 – Financial Reporting I
Credit Hours – 3
Prerequisite – A grade of “C” or better in ACC B220 (Financial Accounting)
2.
Course Description and Objectives:
This course is the first in a three-course sequence which provides an overview of accounting and
external financial reporting. Significant emphasis is given to the analysis and communication of
accounting information. As the individual topics are discussed, students will be expected to
identify and explain the significance of related accounting concepts and conventions. Particular
attention is given to a study of the body of generally accepted accounting principles concerned
with the recognition and matching of revenues and expenses to determine accounting net income
and the related issues of asset measurement.
3.
Pedagogy
Class sessions will be conducted in an informal lecture/discussion format, and student questions
and participation are encouraged. In some instances groups or individuals may be responsible for
presenting problem solutions or other topics to the class. Complete reading and problem
assignments will be made during the first meeting of the semester. It is EXTREMELY
IMPORTANT for students to have completed the reading and problem assignments PRIOR to
their coverage in class! STUDENTS ARE ENCOURAGED TO FORM SMALL STUDY GROUPS!
Regular class attendance is critical to success in this course, and absences should be kept to an
ABSOLUTE MINIMUM. Students are responsible for all material and announcements in
classes they miss and should contact the instructor or classmates to obtain these items!
Instructor’s Web Page:
Course materials and other information will be
available on the instructor’s web page at
http://www.slu.edu/departments/accounting/keithleyj/
The course syllabus will be available at this site, along with PowerPoint lecture slides (indicated
within the detailed topical assignments), a message board and other items. Students should
print out the lecture slides and bring them to class! Use your own judgment in printing slides.
In most cases handouts of three to six per page would be most appropriate, however in some
cases; you may want to print only two per page. If you need assistance printing slides from
PowerPoint or accessing the web page, go to the CSB Computer Lab located in DS 473. This
web page will be the primary method of group communication between the
instructor and students, and it should be checked on a regular basis.
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4.
Assignments:
Specific assignments will be made by the instructor, but will include any or all of the following:
a.
Reading assignments from the text(s) or additional sources (appendices are included
unless specifically deleted). While key issues will be covered in class, not every portion of
the reading assignments can be discussed due to limited class time. Students have an
important responsibility to study material on their own! The instructor will be
available to discuss any assignment material outside of class.
b.
Assignments for class discussion. These will be discussed in class. While students
are not required to submit these in written form, THEY SHOULD BE COMPLETED PRIOR
TO THE ASSIGNED CLASS AND READY FOR DISCUSSION!
c.
Written assignments. These assignments are to be submitted at the beginning of the
class period on the date indicated and will become a part of the student’s formal
evaluation for the semester. In some situations these assignments will be discussed in
class after they have been collected. Students should make copies of these
assignments for class discussion purposes. NO LATE WRITTEN ASSIGNMENTS
WILL BE ACCEPTED!
THE USE OF SPREADSHEET SOFTWARE IS AN
INTEGRAL SKILL WITHIN THE ACCOUNTING
PROFESSION. ALL QUANTITATIVE ASPECTS OF
WRITTEN ASSIGNMENTS SHOULD BE SUBMITTED
USING EXCEL.
d.
5.
Student presentations. In some situations, students (either individually or in groups)
may be assigned class presentations. Specific guidelines for these presentations will be
given by the instructor. Makeup of student teams will attempt to provide a diversity of
academic and business experience, gender, and ethnic backgrounds.
Tests and Examinations:
The date(s), times, number, style, and topical coverage of examinations will be determined and
announced by the instructor. Students should expect examinations to cover MATERIAL FROM
ALL TYPES OF ASSIGNMENTS RELATED TO THE TOPICAL COVERAGE!
STUDENTS MAY NOT BE IN POSSESSION OF ANY BOOKS,
NOTES OR ELECTRONIC DEVICES, INCLUDING CELL
PHONES AND PDA’s DURING AN IN-CLASS EXAM OR QUIZ!
ONLY SIMPLE FOUR-FUNCTION (non-programmable)
CALCULATORS MAY BE USED.
6.
Supplementary materials: None required
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7.
Topical outline:
The Environment of Accounting
Conceptual Framework of Accounting
Review of Fundamentals of Financial Accounting
The Accounting Information Processing System
The Income Statement and Statement of Retained Earnings
The Balance Sheet
Revenue and Expense Recognition
Cash and Receivables
Inventory Measurement and Valuation Methods
Accounting for Operational Assets
Acquisition, Disposal, and Exchange
Depreciation and Impairment
Intangible Assets and Natural Resources
Accounting for Investments
8.
Textbooks and other materials:
Kieso, Donald E., Jerry J. Weygandt, and Terry D. Warfield, Intermediate Accounting, 14th
edition (Volumes I & II), John Wiley & Sons, Inc. 2011. Assignment notation = K
Discussions concerning current developments in financial reporting will be an important part of
this course. Students should have easy access to articles in the financial press. A STUDENT
SUBSCRIPTION TO THE WALL STREET JOURNAL IS STRONGLY RECOMMENDED.
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Dr. John P. Keithley
Office: DS 106
Phone: Office: 314-977-3856
Fax: 314-977-1473
Email: [email protected]
Office Hours: Monday – 10:30 a.m. – 12:00 p.m.
Tuesday - 11:00 a.m. – 12:00 p.m. & 1:30 - 5:00 p.m.
Thursday – 11: 00 a.m. – 12:00 p.m. & 1:30 – 3:00 p.m.
ACCT 311
Assignment Sheet
Fall 2011
OR BY APPOINTMENT
Course Calendar
Class
Meeting
Aug.
30
Sept.
1
Sept.
6
Sept.
8
Reading
Assignment
Orientation
(K) Ch. 1
(Slides: Environ & Concepts)
(K) Ch. 1 & 2
(K) Ch. 2
(Slides: Infosys)
(K) Ch. 2 & 3
13 (K) Ch. 3
15 (K) Ch. 3
20
22
E2-2 thru E2-8
HANDOUT: Shave Close
E3-17
E3-5; E3-6; E3-16
HANDOUT: Samwise
Corporation
E4-4; E4-5; P4-4 (Part a)
13
18
20
25
FALL BREAK – NO CLASS
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(K) Ch. 7
27 (Slides: Cash & Rec.)
1
HANDOUT: Debit/Credit
Review (ungraded)
HANDOUT: Review of
Concepts
HANDOUT: Impact of
adjusting entries
HANDOUT: Dig Deep; P4-6
(K) Ch. 4 & 5 (pp.212-227)
E5-2; E5-3
(Slides: Bal. Sheet)
(K) Ch. 5, 13 (pp. 735-746)
P5-4
HANDOUT: Approp. of R/E
(K) Ch. 18
E18-24 (include entries)
(Slides: Rev. Recog)
(K) Ch. 18
E18-15 (include entries)
(K) Ch. 18
E18-6
EXAM No. 2: CHAPTERS 4 – 5, 13 (pages assigned) & 18
6
Nov.
CA1-16; Q2-2;
EXAM No. 1: CHAPTERS 1-3
(K) Ch. 4; HANDOUT: Discontinued
(Slides: Inc. Stat)
Oct. 4
Written
Assignment
CE1-1 thru CE1-3
CA1-4; CA1-10
(K) Ch. 3
27 Operations
29 (K) Ch. 4
Nov.
Discussion
Assignment
(K) Ch. 7
(K) Ch. 8
3 (Slides: Inven – Cost)
4 Last day to withdraw from class
HANDOUT: Cut Loose
Annual report project
(Part 1)
HANDOUT: Bal. Sheet
P18-8
P18-3
E7-25; E7-9; E7-16; E7-17
P7-3
Annual report project
(Part 2)
E8-14
P7-5
Note 1: Reading assignments include appendices when specifically referenced!
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Class
Meeting
Nov.
8
10
15
17
Reading
Assignment
(K) Ch. 8 & 9
(Slides: Inven – Est.)
(K) Ch. 9
(K) Ch. 9
Discussion
Assignment
Written
Assignment
E8-26: HANDOUT: Butte
Corp.
E9-2;E9-14; E9-19
HANDOUT: Captain Joe
HANDOUT: Inven. errors
P9-8
EXAM No. 3: CHAPTERS 7 – 9
22 (K) Ch. 10, 12)
24
29
Dec.
Dec.
1
6
E10-1; E10-6; E10-17; E12-1;
(Slides: PP&E – Val & Intang)
E12-12
THANKSGIVING VACATION – NO CLASS
(K) Ch. 10; 12; & 11)
P12-1; E12-16; E12-18;
(Slides: Deprec)
E11-1
E11-16; E11-17 &
(K) Ch. 11
HANDOUT: Depletion case
(K) Ch. 17
(Slides: Invest. Secur)
E17-1; E17-4; E17-6
(K) Ch. 17
Exercises: TBA
HANDOUT: Investments &
Ethics
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HANDOUT: Garrison
Corp.
Annual report project
(Part 3)
FINAL EXAM: PER FINAL EXAM SCHEDULE:
ACCT 311-01 – Thursday, Dec. 15, 2011 – 8:00 – 9:50 a.m.
ACCT 311-02 – Tuesday, Dec. 20, 2011 – 8:00 – 9:50 a.m.
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GRADES WILL BE BASED ON THE
FOLLOWING EVALUATIONS:
Approximate
Points
450
Exams (a)
Written assignments
250
Team presentation
100
Class participation
50
Research assignment
Total
Grading notes and policies:
150
1,000
(a) Three (3) exams are scheduled during the semester and will be valued at
100 points each. The final exam will be valued at 150 points.
No makeup exams will be given. It is impossible to make an equivalent exam
without placing the student at either an advantage or disadvantage. If a
student misses an exam with a legitimate excuse, I will substitute the percentage
grade on the other exams taken during the semester.
Legitimate reasons:
Due to illness
Death in family
Other
Note from doctor
Note from family member
On a case by case basis
I must be informed before the exam (or as soon as practical in emergencies) for it
to count as an excused absence. If you cannot reach me directly, leave a
message on my answering machine (either on my office or home phone) or send
an email message. Notifying me after the exam or quiz will result in a grade of
zero for the exam.
(b)
Ten (10) written assignments are shown on the assignment schedule. Each is
valued at 20 points (with the exception of the “Review of the Accounting System”
which is 70 points) and are due at the beginning of class on the date indicated.
NO LATE WRITTEN ASSIGNMENTS ARE ACCEPTED. If a student must miss a
class, they should make arrangements to submit the written assignments on time!
Fax or email submissions are acceptable if received prior to the beginning of
class. Students should prepare a copy of these assignments for use during class
discussion.
(c)
The class will be divided into teams by the instructor. Each team will make an oral
presentation of a discussion assignment during the semester. This presentation will
be valued at 100 points. These presentations will be evaluated by the class and the
instructor. Specific guidelines are given on following pages.
(d)
Class participation will be evaluated based on a student’s preparation for the
discussion of individual topics, and a demonstration of this preparation through
meaningful dialogue during class sessions or active participation during in-class
exercises. Attendance will also be considered in this evaluation (you cannot
participate if you are absent).
(e)
Research assignment: Guidelines are shown on following pages
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Letter grades will be based on the following percentage scale:
Grading Scale
A = 93 and above
A- = 90 thru 92
B+ = 87 thru 89
B = 83 thru 86
B- = 80 thru 82
C+ = 77 thru 79
C = 70 thru 76
C- = 68 thru 69
D = 60 thru 69
F = 59 and below
Grade Point Equivalent
4.0
3.7
3.3
3.0
2.7
2.3
2.0
1.7
1.0
0.0
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“Annual Report”
Each student will be assigned a public corporation to use as the basis for a research project. The
complete annual report (“financial statement package”) for each company will be posted on the course
webpage.
Specific assignment: Complete the following writing assignments related to your company.
1.
Provide a summary of the basic nature of the businesses/products of the company and the
strategic goals or objectives of the firm. What are the inherent business risks faced by this
company? Discuss how the nature of the company and its inherent risks would be
important to external users of these financial statements. Also comment on how the
nature of the firm and its inherent risks would impact the work of the external auditors
(be as specific as possible).
a. Date due = October 6, 2011
b. Maximum length = 1500 words
c. Students must have this portion of the assignment reviewed
by the Writing Center at the Student Success Center prior to
submission.
2.
Evaluate the results of operations of the company in relation to the strategic goals mentioned
above (use specific examples). How effectively do the financial statements reflect the company’s
success or failure in achieving their objectives (include comments on both the formal statements
as well as additional disclosures).
a. Date due = November 1, 2011
b. Maximum length =1500 words
3.
Describe the specific application of two “accounting methodologies” (either presentation or
computation techniques) in the annual report which we discussed in class this semester. These
applications can be from any section of the “financial statement package,” but should also include
references to the FASB’s Codification. Comment on whether you felt these applications were
appropriate for your company.
a. Date due = December 1, 2011
b. Maximum length = 1500 words
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WRITING GUIDELINES FOR RESEARCH ASSIGNMENTS
1.
The assignments must be typed (double-spaced) and should be of a high professional
quality. Assume you are submitting it for publication or to the chief executive of your
organization. Significant reductions in credit will be made for technical writing errors!
2.
References should be included where appropriate (a separate reference page should be
included). Any normally recognized reference style is acceptable.
While appropriate research is important in the completion of these assignments, simply
repeating the material in references is not sufficient. Your own evaluation of the reference
material in relation to your company is a key element which will be evaluated.
Writing Services:
I encourage you to take advantage of the writing services in the Student Success Center; getting
feedback benefits writers at all skill levels. Trained writing consultants can help with writing
projects, multimedia projects, and oral presentations. They offer one-on-one consultations that
address everything from brainstorming and developing ideas to crafting strong sentences and
documenting sources. For more information, call 977-3484 or visit
http://www.slu.edu/writingservices.xml.”
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GUIDELINES FOR TEAM PRESENTATIONS
1.
The coordination of the team’s presentation will be an important part of
the evaluation. Advance planning is a critical part of these
presentations – you cannot wait until the night before the presentation
is due!!
This planning should allow team members to handle any portion of the assignment in the
event of an unexpected absence of a team member!
Presentations should last approximately 15 minutes, depending on the length of the assignment.
2.
EACH MEMBER OF THE TEAM MUST PARTICIPATE IN A MEANINGFUL WAY! NO “FREE
RIDERS” WILL BE ACCEPTED! If “free ridership” occurs, the group should talk to the members
first and try to resolve the problem. If that doesn’t solve the problem, the entire group should
schedule a meeting with the instructor to work out the problem.
3.
Appropriate use of visual aids is required (PowerPoint slides on the projector, chalkboard,
transparencies, handouts, etc.). Both visual aids and handout materials will greatly improve most
presentations because of the detailed nature of the assignments.
4.
Presentations should focus on the logic (reasoning) behind the solutions in addition to the
specific answers! Each presentation should include a sufficient introduction and summary which
links the specific assignment to the overall topics discussed.
All team members should be prepared to answer questions from the class and the
instructor regarding any portion of the assignment. In many cases the instructor’s
questions will add new assumptions to the problem covered in the presentation!
5.
Evaluations from the other class members will be collected and returned to the team members,
but only the instructor’s evaluation will become a part of the team’s formal evaluation.
6. All members of the team will receive the same score. It is the responsibility of the team to
assure equitable participation of all members! If a team member misses a team
presentation with an EXCUSED ABSENCE (refer to policy for excused absences noted
above, the instructor will substitute an alternate assignment for that individual, and the
grade will be based on the results of the team presentation. An unexcused absence from a
team presentation will result in a grade of “0” for the presentation.
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ACADEMIC INTEGRITY
The following is a statement of minimum standards for student academic integrity at Saint Louis
University:
The University is a community of learning, whose effectiveness requires an environment of mutual trust
and integrity, such as would be expected at a Jesuit, Catholic institution. As members of this community,
students, faculty, and staff members share the responsibility to maintain this environment. Academic
dishonesty violates it. Although not all forms of academic dishonesty can be listed here, it can be said in
general that soliciting, receiving, or providing any unauthorized assistance in the completion of any work
submitted toward academic credit is dishonest. It not only violates the mutual trust necessary between
faculty and students but also undermines the validity of the University’s evaluation of students and takes
unfair advantage of fellow students. Further, it is the responsibility of any student who observes such
dishonest conduct to call it to the attention of a faculty member or administrator.
Examples of academic dishonesty would be copying from another student, copying from a book or class
notes during a closed-book exam, submitting materials authored by or editorially revised by another
person but presented as the student’s own work, copying a passage or text directly from a published
source without appropriately citing or recognizing that source, taking a test or doing an assignment or
other academic work for another student, tampering with another student=s work, securing or supplying
in advance a copy of an examination without the knowledge or consent of the instructor, and colluding
with another student or students to engage in an act of academic dishonesty.
Where there is clear indication of such dishonesty, a faculty member or administrator has the
responsibility to apply appropriate sanctions. Investigations of violations will be conducted in accord with
standards and procedures of the school or college through which the course or research is offered.
Recommendations of sanctions to be imposed will be made to the dean of the school or college in which
the student is enrolled. Possible sanctions for a violation of academic integrity include, but are not limited
to, disciplinary probation, suspension, and dismissal from the University.
Approved by the Council of Academic Deans and Directors, September 20, 2000.
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Saint Louis University – John Cook School of Business
THE LEARNING ENVIRONMENT: SHARED EXPECTATIONS
EXPECTATIONS FOR STUDENTS
Students will treat their classroom obligations as they would treat any serious professional engagement.
That includes:
1. PREPARING THOROUGHLY for each session in accordance with the instructor’s requests;
2. ARRIVING PROMPTLY AND REMAINING until the end of each class meeting, except in unusual
circumstances;
3. PARTICIPATING FULLY & CONSTRUCTIVELY in all classroom activities and discussions;
4. DISPLAYING APPROPRIATE COURTESY to all involved in the class sessions. Courteous
behavior specifically entails communicating in a manner that respects, and is sensitive to, the
cultural, racial, sexual and other individual differences in the Cook School of Business community;
5. ADHERING TO DEADLINES AND TIMETABLES established by the instructor;
6. PROVIDING CONSTRUCTIVE FEEDBACK TO FACULTY MEMBERS regarding their
performance as an instructor. Students should be as objective in their comments about
instructors as they expect instructors to be in their evaluations of students.
EXPECTATIONS FOR FACULTY
1. PREPARING THOROUGHLY for class;
2. PUNCTUALITY in beginning class sessions, and except under unusual circumstances, adherence
to the established schedule for classes & exams;
3. PROVIDING SUFFICIENT INFORMATION and materials to enable students to prepare
adequately for class;
4. DISPLAYING APPROPRIATE COURTESY to all involved in the class sessions. Courteous
behavior specifically entails communicating in a manner that respects, and is sensitive to, the
cultural, racial, sexual and other individual differences in the Cook School of Business community;
5. SUPPLYING TIMELY INFORMATION ABOUT STUDENT PERFORMANCE on projects,
assignments, and examinations;
6. PROVIDING CONSTRUCTIVE FEEDBACK TO STUDENTS concerning their performance.
Faculty should be as objective in their feedback to students as they expect students to be in their
evaluation of faculty.
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“In recognition that people learn in a variety of ways and that learning is
influenced by multiple factors (e.g., prior experience, study skills, learning disability),
resources to support student success are available on campus. Students who think they
might benefit from these resources can find out more about:
·
Course-level support (e.g., faculty member, departmental resources, etc.) by asking
your course instructor.
·
University-level support (e.g., tutoring/writing services, Disability Services) by
visiting the Student Success Center (BSC 331) or by going to www.slu.edu/success.
Students who believe that, due to a disability, they could benefit from academic
accommodations are encouraged to contact Disability Services at 314-977-8885
<tel: 314-977-8885> or to visit the Student Success Center. Confidentiality will be
observed in all inquiries. Course instructors support student accommodation requests
when an approved letter from Disability Services has been received and when students
discuss these accommodations with the instructor after receipt of the approved letter.”