The Ohio State University
Max M. Fisher College of Business
Accounting 523: Intermediate Financial Accounting III
Course Syllabus - Summer Quarter, 2009
Instructor
Office
Phone
E-mail
Office Hours
Marc H. Smith
348 Fisher Hall
292-8753
mhsmithosu@yahoo.com
Tuesday & Thursday from 2:00 – 3:15 pm and by appointment
Course Materials:
1. Spiceland, Sepe, & Tomassini, Intermediate Accounting, Fifth Edition, Irwin-McGraw Hill
Publishing Company, 2009
2. Non-graphing (non-programmable) calculator to be used at exams
Course Objectives:
1. To provide each student with an appreciation for and a working knowledge of:
(a)
(b)
(c)
(d)
(e)
Accounting for inventories
Accounting for fixed assets
Accounting for pensions
Accounting for deferred income taxes
Preparing and using the statement of cash flows
2. To build your business and accounting vocabulary so that you will be conversant about business
and accounting issues.
3. To develop your ability to understand, prepare, and interpret the major financial statements.
4. To develop your appreciation for the impact and effect that various valuation and measurement
methods have on financial statement reporting and business decision-making processes.
Course Website:
The course URL is http://carmen.osu.edu. The username and password you will use to log in to carmen are
the same ones you use to check your OSU e-mail and to register online for classes. To activate your OSU email visit http://www.oit.ohio-state.edu/userpass.html and click on ‘how to activate’ or call 688-HELP.
Solutions to all practice assignments, solutions to homework problems, and other relevant information will
be posted on the course website.
Class Attendance:
Due to the strong positive correlation between a good grade and a good attendance record for this course,
you should make every effort to attend all class meetings. At The Ohio State University, attendance at
scheduled classes is required, and prolonged unexcused absences will result in cancellation of your
registration for the course. Additionally, regular class attendance and participation is an indication of your
effort in the course and is critical evidence for borderline grade decisions. Interruptions of class by
continually arriving late and/or leaving early, talking, or other disruptive behavior will result in a
reduction of points in determining your final course grade. Additionally, all cell phones and other
audible electronic devices must be turned off and put away during class time. Students in violation of this
may be required to immediately leave the classroom with no return until the next scheduled class meeting.
Disability Services:
The Office of Disability Services verifies students with specific disabilities and develops strategies to meet
the needs of these students. All students with specific disability needs are strongly encouraged to contact the
Office of Disability Services at 614-292-3307 to explore the potential accommodations that may be available
to them. Students requiring accommodations based on identified disabilities should contact the instructor at
the beginning of the quarter to discuss the student’s individual needs.
Academic Misconduct:
According to University Rule 3335-31-02, all suspected cases of academic misconduct must be reported to
the Committee on Academic Misconduct. The term ‘academic misconduct’ includes, but is not limited to,
copying any part of someone else’s work on quizzes, projects or exams and submitting it as your own work,
dishonest practices in connection with quizzes, projects and exams, and violation of course policies
regarding quizzes, projects and exams. For additional information on academic misconduct, see the code of
student conduct.
Homework:
There are six homework assignments to be handed in throughout this course (see the assignment schedule).
Each homework assignment will be posted on the carmen website at least one week prior to its due date.
Written solutions to these problems are to be handed in at the beginning of the class they are due. No
homework problems will be accepted late. Each homework assignment is worth thirty-five points. I will
drop your lowest homework score in the determination of your final course grade.
Additionally, since practice is essential to mastering this subject matter, I have indicated recommended
practice assignments for each topic covered (see the last page of the syllabus). These problems can be found
in the textbook at the end of each chapter. The solutions to all assigned problems can be accessed on the
carmen course site by clicking on ‘content’ on the top navigation bar and then scrolling down to the bullet
point labeled ‘practice assignment solutions’. While these assignments will not be collected, there is an
extremely low probability of success in this course if you do not attempt the assigned problems.
Examinations:
Midterm examinations are scheduled on Tuesday, July 14 and Tuesday, August 11 and will be given during
class time. The comprehensive final examination, as scheduled by the university, is on Wednesday,
August 26 at 5:30 p.m. You should bring a non-graphing calculator to each examination.
If you miss an examination for a valid reason (e.g., sickness, death in immediate family) and provide
sufficient documentation to support your situation, you will receive an excused absence. Those students
receiving an excused absence will be given a make-up exam. If you receive an excused absence from the
final examination, you will receive an incomplete grade until you complete a make-up exam. If you miss
any examination without receiving an excused absence, your score for that examination will be zero.
Course Grade:
Your final grade in this course will be determined by the total points you earn from exams and homework
problems. The maximum points you can earn from each are:
Mid-term examination I (07/14)
Mid-term examination II (08/11)
Final examination (08/26)
Homework assignments (best 5 of 6)
Total
265 points
265 points
295 points
175 points
1,000 points
*** There is no additional credit offered for additional work should you find that you are a few points
short
of your desired grade.
ACCOUNTING 523
M. H. Smith
2009
DATE
READING
TOPIC
June 23 Chapter 8
Inventories: Measurement
June 25 Chapter 8
Inventories: Measurement
June 30 Chapter 9
Inventories: Additional Issues
July 2 Chapter 9
Inventories: Additional Issues
July 7 Chapter 16
Accounting for Income Taxes
July 9 Chapter 16
Accounting for Income Taxes
July 14
Midterm Examination I
July 16 Chapter 10
Operational Assets
July 21 Chapter 10
Operational Assets
July 23 Chapter 11
Depreciation
July 28 Chapter 11
Depreciation
July 30 Chapter 17
Pensions
August 4 Chapter 17
Pensions
August 6
Catch-up & Review
HOMEWORK
Homework #1
Homework #2
Summer
PRACTICE
ASSIGNMENTS
E8-3, 12, 13, 14, 16
P8-5
E8-17, 18, 19, 20
P8-13
E9-1, 2, 5, 7, 9
P9-1, 3
E9-10, 11, 12, 13, 15
P9-5
E16-2, 3, 4, 8, 11
P16-1
E16-6, 7, 13, 20
P16-2, 6
Homework #3
Homework #4
E10-1, 8, 13, 14, 15
P10-6
E10-16, 17, 20, 21
P10-9, 10
E11-1, 3, 5, 18, 25
P11-6
E11-4, 15, 16
P11-4, 9, 11
E17-4, 5, 6, 7, 8
P17-7
E17-9, 10, 17, 19, 20
P17-10, 11
Homework #5
August 11
Midterm Examination II
August 13 Chapter 21
Statement of Cash Flows
E21-1, 2, 3, 5, 17
P21-2
August 18 Chapter 21
Statement of Cash Flows
E21-8, 9, 13, 16, 21
P21-7
August 20 Chapter 21
Statement of Cash Flows
August 26
Final Examination – 5:30 pm
Homework #6
E21-23, 27, 29
P21-8