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Fisher College of Business
Department of AMIS
AMIS 521 – Intermediate Accounting I
Summer 2009
(updated 8-4-09)
Instructor
James K. Katerakis, CPA, MBA
252 Fisher Hall
614-562-7456 (cell)
Katerakis.1@osu.edu
Office Hours – Fisher 252 – Monday/Wednesday 2:15 – 3:15 pm, before or after class and by
appointment.
Class
This Syllabus will be updated on a regular basis – please consult it
prior to each class and note the updated dates above. Changes will be highlighted in yellow.
Classes meet on Monday, Wednesday at SB 205; 3:30-4:48 or 5:30 – 6:48. Subject to space
limitations, you may attend any section you wish. If seating space becomes an issue, those
registered in that particular section will be given preference. All lectures on any given day
will cover the same content.
Enrollment issues should be directed to the counselors in 100 Schoenbaum or
Dr.
Dietrich, accounting department chairman in 400 Fisher.
Please advise me if you are unable to access the course in Carmen.
Required Text
Intermediate Accounting, Fifth Edition by Spiceland, Sepe, Nelson and
Tomassini (at OSU). You will not be tested on any chapter’s appendix!
Textbook website
http://www.mhhe.com/spiceland5e. This is an
excellent resource to use in Exam preparation, as it contains sample Quizzes and Exams.
Course Objective
This is the first course in the three-course sequence on financial accounting and reporting. The objective of this
course is to enhance your understanding of the conceptual framework of accounting and the accounting standards
and the applications of these standards in the real world. You will not only learn how to apply a procedure, but also
understand why it is being applied in that particular business context.
We will begin the course with a review of the conceptual framework of accounting; then we will focus on
developing an in-depth understanding of how each of the four financial statements is prepared. In addition, we will
review several balance sheet accounts and understand the detailed aspects of its recording and reporting.
Throughout the course, the emphasis will be on how to provide accounting information and how to use that
information to make business decisions.
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Course Routine
AMIS 521 is conducted primarily in a lecture-and-discussion mode. My task is to help you understand key
concepts, issues, and techniques in financial accounting. I perform this task by (1) explaining and illustrating
important concepts in a lecture-like format and (2) engaging you in a dialogue about the important concepts, issues,
and techniques. Your task is to be prepared for every class by reviewing the PowerPoint slides, reading (in
advance) the relevant chapter and making an honest effort to solve (in advance) the practice exercises and problems
assigned for the particular class (see below). Your attendance and active involvement in class discussions will
enhance your learning.
Communication
For purposes of communicating with me, assume that I will check my email no later then 11 pm every week day
and once over the weekend. For emergency purposes, you may call my cell number above. If at any time during
the quarter you wish to share some information with me that will benefit the course and all the students, please do
not hesitate to meet with me on these matters, by email or via an anonymous note.
Professional Development
You may take advantage of my vast experience in Professional Development by meeting with me to review a
resume, critique your professional attire or conduct a mock interview.
Exams
Exams will be given on the dates indicated on the assignment schedule and will be during normal class times. They
will consist of objective format questions and long and short problems. Each exam will cover several chapters of
material as noted below. Other than the general cumulative nature of accounting material and concepts,
Exam 2 will not be comprehensive in nature. Following the AMIS department’s policy, make up exams will not
be given. Unexcused absences will result in a grade of “zero” for a missed exam. If you miss the first exam with an
excused reason, such as sickness, you have to provide valid documentation; your final grade will be determined by
allocating the missed points to the remaining Exam. If you miss Exam 2 with an excused reason, you will be
required to take a make-up examination on a date that will be determined by the instructor. You have to take Exam
2 to receive a grade for the course. Realistic sample exams with solutions will be posted well before each
scheduled exam. A study sheet will be posted prior to each Exam, which will highlight key areas to be covered on
the Exam. Each student will be given the opportunity to prepare a 4 by 6 index card prior to each Exam and
use the card during the in-class exam. The card may be used front and back. As an additional method to
recognize outstanding performance, each student shall receive additional bonus points equal to 3% of their
single highest exam score.
Quizzes
You will be given 5 on-line quizzes for this course; these quizzes are available at the course web page in Carmen.
You must complete each quiz prior to the end date as shown in the Syllabus; make up quizzes will not be given
for any reason or for any circumstance. During the assigned time period, you can open the quiz and look at the
questions many times; you can attempt the quiz and submit your answers only once during the assigned time
period prior to the cutoff date and time. Each quiz is worth 50 points. Your lowest Quiz grade will be dropped in
determining your overall grade in this course. Please note that the Quiz question difficulty is slightly easier
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than Exam questions.
Do not give or receive assistance for these on line quizzes; do not discuss the content of these quizzes with
anyone. You can refer to your textbook and notes while working on these quizzes.
Quiz solutions/explanations will be posted after each quiz time period has expired.
Financial Statement Project
The first half of the course will focus on the understanding of financial statements and how they are prepared.
During the review of these Chapters 2 to 4 and 21, we will review and discuss many of the key concepts utilized in
preparing the statements. In order to best enhance your understanding of these concepts, a comprehensive
Financial Statement Project will be assigned for your preparation outside of class. The project will include the
recording of many transactions as well as the creation of the 4 financial statements. You may complete this
assignment on an individual basis or on a group basis (no more than 2 to a group) at your own discretion. You
need not advise me in advance should you wish to prepare it on a group basis. All group members will receive the
same grade on the project. You may have a group member from another section. Please consult the assignment
schedule below for its due date.
Homework Problems/Attendance
Homework problems will not be collected. I strongly encourage you to do your homework on a regular basis, as
your final grade in this course will be greatly influenced by it. I will do as many exercises and problems as time
permits in class. The solutions for assigned chapter problems will be posted in Carmen. I reserve the right to
change the homework problems if deemed necessary; I will announce the changes in class and post them in
Carmen. Make sure you check Announcements at the course web page and review the Syllabus as you begin
to prepare for each class session.
Class attendance will be taken on 5 random class sessions. For each random class session that you are in
attendance and for which you have on that date a name sign placard which you provide, you will receive 10 points.
If in addition you have completed a substantial portion of the “Major Homework Problem(s),” you will receive an
additional 10 points (I reserve the right to check in-class for this). The “Major Homework Problem(s)” will be
shown in “green” on the below assignment schedule. Thus the maximum points you can receive on any one
homework/attendance day is 20 points. No makeup for missed days attendance for any reason will be considered,
unless the student is participating in an official OSU sponsored event, with appropriate documentation. Students
who are not actually in class for the attendance day, may however email to me in advance of the class date, the
“Major Homework Problem(s)” for that day, and if the work is substantially complete, will receive 10 points.
In addition to the assigned textbook homework problems, we will be using the Disney Company’s 2008 Financial
Statements contained in its annual report to further enhance our understanding of financial statements. Please note
on the Syllabus the assigned dates for “Disney” noted in green. There will be a special assignment section in the
content section containing these tasks. As these assignments are in “green” font, they will be considered to be
required homework as discussed in the previous paragraph.
Course Grade
You have to complete all the requirements of the course to receive a grade for the course. There is no extra credit
work. Final grades in the course may be curved in arriving at a predetermined departmental course grade point
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average. Grades will only be curved up but never down. The following points will be assigned to the exams,
quizzes and project as follows:
Exam 1*
275 points
Exam 2*
275 points
5 On-line quizzes (drop
200 points
lowest score – 4 @ 50)
Financial Statement Project 150 points
Attendance/homework
100 points
(5 @ 20)
TOTAL
●
1,000 points
- 3% highest exam bonus factor to be added to each student’s final point total (not included in the 1000
points).
Final course grades will be assigned based upon the following table:
930 points and above
A
900 points to 929 points
870 points to 899 points
830 points to 869 points
800 points to 829 points
770 points to 799 points
730 points to 769 points
700 points to 729 points
670 points to 699 points
600 points to 669 points
599 points and below
AB+
B
BC+
C
CD+
D
E
Academic Misconduct
Academic misconduct will not be tolerated. Students who violate University rules on academic misconduct are
subject to disciplinary penalties. In accordance with Faculty Rule 3335-5-487, all
instances of alleged academic misconduct will be reported to the Department Chairperson and the Committee on
Academic Misconduct. Academic misconduct is grounds for failing the course and may be grounds for further
sanctions. Academic misconduct includes, but is not limited to, giving or receiving information during an exam or
quiz, providing other students with information about the content of a quiz or exam and submitting plagiarized
work.
Office of Disability Services (ODS)
If a student is scheduled to take the exam at the Office of Disability Services, all required paperwork must be
completed by the end of the second week of classes; this would allow the student to take the exam at the ODS
facility at the scheduled times approved by the instructor.
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Assignment Schedule
E – Exercise or P – Problem (Appendices are not required reading!):
Topic
Homework
Date
June 22, Monday
June 24, Wednesday
June 29, Monday
July 1, Wednesday
Introduction to the course
Review final syllabus
Chapter 1 – Structure of Financial
Accounting (lecture)
Chapter 2 – Review of the Accounting
Process (lecture)
Chapter 2 – Continued (problems)
Chapter 2
E 4, 5, 6, 7, 8, 12, 14
July 5, Sunday
Quiz 1 due – 11:55 pm
Chapter 1
July 6, Monday
Chapter 2 – Continued (problems)
Chapter 2
P 3, 4, 11
July 8, Wednesday
Chapter 2 – Continued (problems)
Chapter 2
P 3, 4, 11
July 12, Sunday
Quiz 2 due – 11:55 pm
Chapter 2
July 13, Monday
Chapter 3 – The Balance Sheet and
Financial Disclosures (lecture)
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July 15, Wednesday
Chapter 3 – Continued (problems)
July 19, Sunday
Quiz 3 due (chapter 3) due 11:55 pm
July 20, Monday
Chapters 4 & 21 – The Income
Statement and Statement of Cash Flows
(lecture)
July 22, Wednesday
Chapter 3
E 2, 5, 7, 8, 13
P 3, Disney
Financial Statement Project Turn In Chapter 4
E 7, 10, 11, 14, 15
During Class – (no emails)
Chapters 4 & 21– Continued (problems) P 1, 9, Disney
Chapter 21
E 1, 3, 5, 9, 13, 17, 19, 21, 23,
Disney
July 26, Sunday
Exam 1 Live Review Session
Review Sample Exam
7 to 9 pm
Location JR 300
July 27, Monday
Exam 1 (chapters 1, 2, 3, 4 & 21)
Normal class times and room
July 29, Wednesday
August 3, Monday
Chapter 5 – Income Measurement and
Profitability Analysis (lecture)
Briefly review Exam 1
Chapter 5 – Continued
August 5, Wednesday
Chapter 5 – Continued (problems)
August 10, Monday
Chapter 5 – Continued (problems)
August 11, Tuesday
Quiz 4 due (chapter 5) due 11:55 pm
Chapter 5
E 2, 3, 5, 10, 11, 13
P 5, 6
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August 12, Wednesday
Chapter 7 – Cash & Receivables
(lecture & problems)
August 17, Monday
Chapter 13 – Current Liabilities and
Contingencies (lecture)
August 18, Tuesday
Quiz 5 due (chapter 7) due 11:55 pm
Chapter 7
E 2, 4, 6, 7, 10, 16
P 1,6, Disney
Chapter 13 – Continued (problems)
Chapter 13
E 1, 3, 7, 9
P 2, Disney
August 24, Monday
Chapter 20 – Accounting Changes and
Error Corrections (lecture & problems)
Chapter 20
E 4, 7, 9, 17
P 2, 3
August 25, Tuesday
Live Review Session
Review Sample Exam
7 to 9 pm
Location EL2004
Exam 2 (chapters 5, 7, 13 & 20)
3:30 section:
3:30 – 5:18
August 19, Wednesday
August 26, Wednesday
5:30 section:
5:30 – 7:18
Normal class room
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