ACCT 401 - 115 Summer 2014
ACCT 401-115 Financial Accounting
INSTRUCTOR AND CONTACT INFORMATION
Instructor:
Anthony L. Fulmore, MSA, MS-HRM
Assistant Professor at Texas A&M University – Central Texas
Office:
Founder’s Hall room 323S
Phone:
254-501-5840
Cell:
254-383-0226
Email:
afulmore@ct.tamus.edu
Skype:
Profafulmore
Office Hours:
Tuesday and Thursday (9:00 am – 12:00 pm)
Access to
Blackboard:
https://tamuct.blackboard.com
For communication, please use the Blackboard messages to keep course related information
within the course. Should you write me an email, please mention your name and class title with
course and section number in the Subject line.
UNILERT
Emergency Warning System for Texas A&M University – Central Texas
UNILERT is an emergency notification service that gives Texas A&M University-Central Texas
the ability to communicate health and safety emergency information quickly via email and text
message. By enrolling in UNILERT, university officials can quickly pass on safety-related
information, regardless of your location. Please enroll today at http://TAMUCT.org/UNILERT
1
ACCT 401 - 115 Summer 2014
COURSE INFORMATION
Course Overview and Description:
This course is a part and a continuation of the Intermediate Accounting sequence. It
extends and builds directly on what students have learned in ACC 303 and 304. Topics
that may be covered in the course include: accounting for pensions and other postretirement benefits; accounting for income taxes as such taxes affect a corporation's
financial reporting; changes in accounting principles and correction of errors; preparation
of statement of cash flows. Course demonstrates interrelationships among topics that
students have previously studied in isolation from each other.
Catalog Description:
A study of financial statement analysis and accounting topics related to financial
statement presentation and disclosure.
Course Objective:
At the conclusion of this course, the student will be able to:
A) Knowledge Outcomes
Students will understand:
1. The general revenue recognition criterion and exceptions to that general
rule
2. The impact of timing differences between GAAP and income tax
regulations
3. Situations that give rise to deferred tax assets and deferred tax liabilities
4. Practical difficulties in accounting for pensions and other post-retirement
benefits
5. The general rule for accounting for changes in estimates and rationale for
the rule
6. The methods of accounting for changes in accounting principle and what
constitutes a change in accounting principle
7. The general requirement for correction of accounting errors
8. The categories of cash flows reported on the statement of cash flows and
the types of events that make up each category
B) Skill Outcomes
1. Apply the general revenue recognition criterion
2. Recognize situations in which an exception should be made to the
general revenue recognition rule
3. Correctly determine amount of revenue to be recognized on long-term
contracts, installment sales, and other "unusual" situations
4. Calculate the amount of deferred tax assets and deferred tax liabilities
that should be reported on the balance sheet
5. Determine the amount of income after taxes to be reported on the income
statement
6. Account for net operating loss carrybacks and carryforwards
2
ACCT 401 - 115 Summer 2014
7. Calculate the amount of pension expense or post-retirement benefit
expense for a given period
8. Calculate the liability for pensions or post-retirement benefits under the
different methods for measuring the liability
9. Identify correct method to be used in accounting for a given change in
accounting principle
10. Prepare income statement reflecting change in accounting principle
11. Determine effect on income of a change in estimate
12. Prepare journal entry to correct an accounting error and explain how
correction of the error will affect financial statements
13. Prepare a statement of cash flows by the direct method
14. Prepare a statement of cash flows by the indirect method
Required Reading and Textbook:
Authors: Intermediate Accounting, Spiceland, Sepe, Nelson
Hardcover: 1263 pages
Publisher: McGraw-Hill/Irwin; 6 edition (2011)
Language: English
ISBN: 0077403495
Publication Manual of the American Psychological Association,
6th Edition
Publisher: American Psychological Association
Softcover: 272 pages
ISBN-13: 978-1433805615
3
ACCT 401 - 115 Summer 2014
COURSE REQUIREMENTS
We will meet two times per week. The class format will consist of both lecture and class
participation. Please be prepared for each class by completing the reading and
homework assignments for that day. Your learning experience will be materially
enhanced if you participate in class by asking questions, volunteering information, and
responding to requests for discussion. I have attached a tentative schedule of class
meetings and homework assignments. Periodically this schedule may need to be
revised to match the actual pace of the class. I will post any revisions on blackboard
and announce the changes in class.
Final Exams:
The final exams will cover the material discussed in class and included in the assigned
reading, notes and homework. A make-up exam will not be given except for valid and
documented medical or family emergencies and university recognized religious holidays.
If you do not have a valid reason for missing the exam, you will receive a grade of zero
on that exam. I have final authority to determine if your absence is justified. If it is
feasible for you to take the make-up exam you may do so.
Chapter (Quizzes/Homework/Cases):
A mixture of in class quizzes and take home assignments will be given during the
semester. You may drop your lowest in class quiz. Make-up quizzes will not be
allowed except for university recognized religious holidays. Take home
assignments cannot be dropped.
Special Project (Financial Statement Analysis):
Details of the special project (group assignment) will be handed out early in the
semester. Points will be achieved from written material, a group presentation, and
participation. Groups will be assigned in the first part of the semester.
Class Participation:
While class participation will not be a component of your overall grade you are highly
encouraged to contribute to the daily lectures through questions, comments, providing
topical and current news stories/articles, and answering questions.
4
ACCT 401 - 115 Summer 2014
Grading Criteria Rubric and Conversion
Students earn their course grades by completing scheduled assignments; no extra credit
assignments are given. To satisfactorily pass this course, students must complete each
of the graded items listed below. Failure to submit appropriate documents for scoring in
each category will result in a failing grade.
Course Element
Percent of Course Grade
Homework Assignments
20%
Chapter Quizzes
30%
Final Exam
20%
Special Project
20 %
Class participation
10%
Total
100%
Grade Equivalents:
If Grade is Computed Numerically
If Grade is Computed by Letter
90.0 - 100 %
=A
A=
95%
80.0 - 89.9%
=B
B=
85%
70.0 – 79.9%
=C
C=
75%
60.0 – 69.9%
=D
D=
65%
0 – 59.9%
=F
F=
0%
Submission Style Requirements: Submissions will be in accordance with The
Publication Manual of the American Psychological Association, 6th ed., will be used as
reference regarding format issues.
Late Submissions/Resubmissions: Late work will generally be accepted, but each day
it is late, the grade will drop by 10%.
5
ACCT 401 - 115 Summer 2014
COURSE SCHEDULE
Class
1
2
3
4
5
6
7
8
Week of
3-Jun
10-Jun
17-Jun
24-Jun
1-Jul
8-Jul
15-Jul
22-Jul
Chapters
5
16
17
21
22
Like all schedules the following is tentative. If changes are necessary they will be announced
on Blackboard. It is your responsibility to learn of any changes announced by your instructor.
Procrastination is the worst enemy in this class. If you believe that things that can be done
tomorrow need not be done today then this class is not for you.
Fulmore’s Proverb: Those who wait get good grades when they take this class the third time.
Taking an online class is like joining a health club. If you stop working out, you won’t see any
improvement in your physical condition, even though you are still paying dues. It takes
consistent effort to run faster, jump higher, build muscle, or lose weight. “Cramming” the day
before the exams will have the same result as one really intense session at the gym (which is
NOT MUCH). No pain, no gain. So here are some common behaviors that lead to failing the
class.
1. Don’t buy the book, or if you buy it, don’t bother reading it until the night before the exam. The
text doesn’t come with any magical qualities – holding it or carrying it in your backpack won’t
transfer the information into your brain unless you read and study it.
2. Don’t log in frequently. I can see which days you login to the course and for how long.
3. Wait until the last day to participate in online discussion. Shows how much you care about the
class. This is like coming to class the day before the exam and asking a lot of questions that have
already been answered.
4. Forget about deadlines – if you miss an exam, quiz or assignment, maybe it will disappear. I don’t
change dates once the syllabus has been distributed, so you can use ink when you put them on
your calendar and planner.
5. Be dead weight for team projects. Even though your team member can fire you, or complain
about your lack of performance, there is always the chance they will give you a free ride on the
assignment. If you need help understanding the assignment, ask for clarification.
6. Ignore emails from the instructor advising you to drop the class if you are failing. He probably
doesn’t mean it. Want to know how many Fs I gave last year because people don’t want to deal
with bad grades? And I hate doing it.
7. Don’t get familiar with the grade book and syllabus. Prioritizing the assignments that count the
most, or understanding what your grade means will only make you worry more. There is a big
difference between 75/150 (50%) and 75/100. Know how much things are weighted so you can
put your effort where it will do the most good.
6
ACCT 401 - 115 Summer 2014
8. Put off the easy things to improve your grade, like discussion, or keeping up with reading.
Emergencies can happen, but if you aren’t prepared, you won’t have a chance of catching up.
TECHNOLOGY REQUIREMENTS AND SUPPORT
Technology Requirements
This course will use the new TAMU-CT Blackboard Learn learning management system
for class communications, content distribution, and assessments.
Logon to http://tamuct.blackboard.com to access the course.
Username: Your Tarleton email address (the complete email address, e.g.
john.doe@go.tarleton.edu)
Initial password: Your DuckTrax ID (UID)
For this course, you will need reliable and frequent access to a computer and to the
Internet. You will also need a headset with a microphone or speakers and a microphone
to be able to listen to online resources and conduct other activities in the course.
If you do not have frequent and reliable access to a computer with Internet connection,
please consider dropping this course or contact me (your email and phone number) to
discuss your situation.
Blackboard supports the most common operating systems:
PC: Windows 7, Windows XP, Windows Vista, Windows 2000,
Mac: Mac OS 10.6 “Snow Leopard®”, Mac OS 10.5 “Leopard®”, Mac OS 10.4 “Tiger®”
Check browser and computer compatibility by following the “Browser Check” link on the
TAMU-CTBlackboard logon page. (http://tamuct.blackboard.com) This is a CRITICAL
step as these settings are important for when you take an exam or submit an
assignment.
Upon logging on to Blackboard Learn, you will see a link to Blackboard Student
Orientation under My Courses tab. Click on that link and study the materials in this
orientation course. The new Blackboard is a brand-new interface and you will have to
come up to speed with it really quickly. This orientation course will help you get there.
There is also a link to Blackboard Help from inside the course on the left-hand menu bar.
The first week of the course includes activities and assignments that will help you get up
to speed with navigation, sending and receiving messages and discussion posts, and
submitting an assignment. Your ability to function within the Blackboard system will
facilitate your success in this course.
Technology issues are not an excuse for missing a course requirement – make
sure your computer is configured correctly and address issues well in advance of
7
ACCT 401 - 115 Summer 2014
deadlines.
Technology Support
For technological or computer issues, students should contact the TAMU-CT Blackboard
Support Services 24 hours a day, 7 days a week:
Support Portal: http://www.ct.tamus.edu/bbsupport
Online chat (through the support portal at: http://www.ct.tamus.edu/bbsupport) Phone:
(855)-661-7965
For issues related to course content and requirements, contact your instructor.
COURSE AND UNIVERSITY PROCEDURES AND POLICIES
Drop Policy
If you discover that you need to drop this class, you must go to the Records Office and
ask for the necessary paperwork. Professors cannot drop students; this is always the
responsibility of the student. The record’s office will provide a deadline for which the form
must be returned, completed and signed. Once you return the signed form to the records
office and wait 24 hours, you must go into Duck Trax and confirm that you are no longer
enrolled. Should you still be enrolled, FOLLOW-UP with the records office immediately?
You are to attend class until the procedure is complete to avoid penalty for absence.
Should you miss the deadline or fail to follow the procedure, you will receive an F in the
course.
Attendance/Withdrawal
In accordance with university policy, each faculty member has the responsibility and
authority to determine whether make-up work can be done because of absences.
Although make-up assignments will generally be accepted up to one week late during
the first two weeks only, no individual additional “extra credit” activities will be granted.
In rare, emergency cases, students may qualify for an incomplete grade, which is
recorded as a “K” on the grade report and transcript. Requests for incomplete grades
must be made according to university policy and approved by the instructor prior to the
final week of classes. All requirements must be completed by the end of the next long
semester or the “K” automatically changed to an “F.”
Students who began taking classes at Tarleton State University or its related units as of
September 1, 1998, may only drop six classes during their entire undergraduate
program. The last day to drop a course with no record this semester is published in the
Texas A&M University Catalog on the Academic Calendar page(s).
Academic Integrity
Texas A&M University - Central Texas expects all students to maintain high standards of
personal and scholarly conduct. Students found responsible of academic dishonestly are
subject to disciplinary action. Academic dishonesty includes, but is not limited to,
cheating on an examination or other academic work, plagiarism, collusion, and the
abuse of resource materials. The faculty member is responsible for initiating action for
each case of academic dishonestly and report the incident to the Director of Student
Affairs. More information can be found at www.ct.tamus.edu/StudentConduct.
Disability Support Services
If you have or believe you have a disability and wish to self-identify, you can do so by
8
ACCT 401 - 115 Summer 2014
providing documentation to the Disability Support Coordinator. Students are encouraged
to seek information about accommodations to help assure success in their courses.
Please contact Gail Johnson at (254) 519-5831 or visit Founder's Hall 114. Additional
information can be found at www.ct.tamus.edu/AcademicSupport.
Tutoring
Tutoring is available to all TAMUCT students, both on-campus and online. Subjects
tutored include Accounting, Finance, Statistics, Mathematics, and Writing (APA). Tutors
are available at the Tutoring Center in Founder's Hall, Room 204, and also in the Library
in the North Building. Visit www.ct.tamus.edu/AcademicSupport and click "Tutoring
Support" for tutor schedules and contact info. If you have questions, need to schedule a
tutoring session, or if you're interested in becoming a tutor, contact Academic Support
Programs at 254-501-5830 or by emailing cecilia.morales@ct.tamus.edu.
Chat live with a tutor 24/7 for almost any subject on your computer! Tutor.com is an
online tutoring platform that enables TAMU-CT students to log-in and receive FREE
online tutoring and writing support. This tool provides tutoring in Mathematics, Writing,
Career Writing, Chemistry, Physics, Biology, Spanish, Calculus, and Statistics. To
access Tutor.com, click on www.tutor.com/tamuct.
Library Services
Information literacy focuses on research skills which prepare individuals to live and work
in an information-centered society. Librarians will work with students in the development of
critical reasoning, ethical use of information, and the appropriate use of secondary research
techniques. Help may include, yet is not limited to: exploration of information resources
such as library collections and services, identification of subject databases and scholarly
journals, and execution of effective search strategies. Library Resources are outlined and
accessed at. http://www.tarleton.edu/centraltexas/departments/library/
Changes to Syllabus
A syllabus serves as an instructional and study planning document for both faculty and
students. Although every effort will be taken to complete the semester according to the
syllabus, it may become necessary to make certain changes to better facilitate the
academic environment. In such an event, changes will be announced in class and students
will receive written notice within one week of the change decision. Changes may be made
within the last two weeks of the semester only in exceptional circumstances.
The Operation of the Online Course and Being an Online Student
Online learning requires students to be very self-disciplined, be sure you understand and
are prepared to comply with all required class assignments and deadlines. For this course,
the weekly tasks and assignments are posted in each week’s individual tab that will be
made available Sunday night and will be due by Sunday night at midnight.
9