ACCOUNTING & MIS 523
FINANCIAL
ACCOUNTING III
WINTER QUARTER 2009
OFFICE HOURS: Tuesday
and Thursday 10:30 11:30 and by appointment
E-MAIL:
OFFICE: 454 Fisher Hall
murdock.3@osu.edu
TELEPHONE: (614) 292-1720 FAX: (614) 292-2118
INSTRUCTOR: Professor
Richard J. Murdock
COURSE MATERIALS (Recommended)
Spiceland, J. David, James F. Sepe and
Lawrence A. Tomassini Intermediate
Accounting, Fourth Edition (revised),
McGraw-Hill/Irwin New York NY, 2006 ISBN
0-07-321542-6.
or
Keiso, Donald E., Jerry J. Weygandt and
Terry D. Warfield Intermediate Accounting,
Twelfth Edition, John Wiley & Sons, 2007
ISBN 0-471-74955-9.
COURSE DESCRIPTION
This is the last course in the three course
intermediate accounting sequence. As such,
it assumes that you have mastered the
procedures and concepts introduced in the
two previous courses and extends them to
deal with complex measurement and
disclosure issues. This course emphasizes
the development of the oral and written
skills necessary to succeed in both
accounting and management.
COURSE OBJECTIVES
The course is designed to provide a forum
to ensure the student develops the oral and
written skills necessary to succeed in the
accounting profession. Daily participation in
the class discussion is expected. The
objectives of this course include providing
you with an appreciation for and working
knowledge of: (1) inventories, (2) operational
assets, (3) deferred income taxes, (4)
pensions, (5) alternative measurement
techniques and (6) disclosure
considerations. Related objectives include
improvement of your skills in (7) accounting
research, (8) oral communications, (9)
written communications and (10) group
decision-making.
COURSE GRADING
Midterm I
Midterm II
Quizzes
Presentation
Handouts
Homework
Participation
Final
Examination
100
300
100
100
100
100
100
300
Total
1,200
TEACHING PHILOSOPHY AND
CLASSROOM PROCEDURES
The University awards three credit hours for
this course. It is the University's (and my)
expectation that each student spend at least
TWO hours outside of class for every credit
hour. Hence, you should expect to spend a
minimum of SIX (6) hours each week in
addition to class time on Accounting 523.
The homework assignments are made with
that time frame in mind. It is my belief that
the most efficient use of classroom time is
to reinforce and/or clarify what the student
has already tried to learn on an individual or
group basis prior to the beginning of each
class. This strategy requires that both the
student and the instructor combine their
talents to achieve the objective. Optimal
learning requires: a) the student to
wholeheartedly prepare for class by doing
the assigned readings and working all
assigned problems; b) discussion of the
materials by instructor and the student; and
c) the instructor to underscore the most
important points via comments or very short
lectures. Obviously, the problems are not
ends in themselves. They only cause us to
focus on central issues and explore the
many alternatives available.
Given the above, your success depends on
your participation. Participation of the mind
is essential in each class. Participation by
mouth is expected periodically. I will call on
you if you don't voluntarily participate. This
is not a threat. It is, however, the only way I
believe you become properly trained to
succeed in the professional environment. I
also expect you to attend all of the classes
during the quarter. With only 19 scheduled
meetings for the quarter, each class is very
important to your development as an
accounting professional. Therefore, you will
be penalized twenty-five (25) points for each
unexcused absence in excess of one.
EXAMINATIONS
Examinations in this course are all closed
book and in class. They will consist of
objective format questions and long and
short problems. Unexcused absences will
result in a grade of "zero" for the missed
exam. If you miss the midterm examination
for a valid reason (e.g. sickness), you must
provided appropriate documentation. Your
grade will be determined by the method the
instructor assigns at the time the absence is
judged excused. The final examination will
be administered at the time (and place)
scheduled by the university. If you miss the
final examination and have an excused
absence, you will be required to take a
make-up examination at a date and time
determined by the instructor. You must take
a final examination to receive a grade for the
course.
QUIZZES
Quizzes in this course are closed book and
in class. There are no make-up quizzes.
There will be a minimum of six 20 point
quizzes. Your lowest quiz grade will be
dropped when determining the number of
point earned for quizzes.
HANDOUTS AND
PRESENTATION
Handouts and the presentation will be done
on a team basis. The team assignments will
take place after the second week of class.
For some handouts and the presentation,
you will examine new pronouncements and
consider their potential impact on the future
of the accounting profession.
HOMEWORK
Homework assignments are based on the
Spiceland text. They are intended to prepare
you for class discussion and will be
collected on days when we do not have a
quiz. Answers to the assigned problems will
be posted on Carmen throughout the
quarter.
TENTATIVE ASSIGNMENT
SCHEDULE
The assignment schedule for the quarter
may change slightly depending upon the
progress of the class during the quarter. To
view the current assignment schedule, click
on the assignment schedule in Carmen.
OFFICE OF DISABILITY
SERVICES
If a student needs to take an examination at
the Office of Disability Services (ODS), all
required paperwork must be completed by
the end of the second week of classes. The
student should then be able to take the
examination at the ODS facility during a
scheduled time approved by the instructor.
TELEPHONE LIST
To facilitate class interaction, a listing of
telephone numbers and e-mail addresses
will be available on Carmen later in the
quarter.
TENTATIVE ASSIGNMENT SCHEDULE
AMIS 523
WINTER 2009
Date
1/6/2009
1/8/2009
√
Topical Coverage
Inventory Basics and Pictures
Q Dollar Value LIFO
Chapter
Suggested Homework
8
E 8-10, 8-11, 8-12
8
P 8-1, 8-3, 8-10
1/13/2009
Inventory Estimates and Errors
9
E 9-21, 9-25; P 9-3, 9-10, 9-13
1/15/2009
MIDTERM – 100 Points
9
P 9-7, 9-12, 9-14
Important Items From 521 & 522
1/20/2009
Operational Assets - Acquisition
10
E 10-6, 10-8, 10-9, 10-28; P 10-2,
10-4, 10-9
1/22/2009
Operational Assets - Disposition
10
P 10-5, 10-6, 10-10
1/27/2009
Special Assignment
No class or office hours
1/29/2009 Q Operational Assets - Utilization
11
E 11-7, 11-9, 11-10, 11-14; P 11-7,
11-11
2/3/2009
Operational Assets - Impairment
11
P 11-2, 11-5, 11-6, 11-12
2/5/2009
MIDTERM II – 300 Points
8-11
2/10/2009
Accounting for Income Taxes
16
2/12/2009
Accounting for Income Taxes
FIN 48
2/17/2009
Pension Basics
17
E 16-5, 16-17, 16-26; P 16-6
P 16-8, 16-9, 16-10, 16-11
E 17-6, 17-7, 17-8, 17-15, 17-18
2/19/2009
2/24/2009
Pension Costs
2/26/2009
Employee Benefit Plans
17
E 17- 27, P 17-19, Handout
3/3/2009
Error Corrections
20
E 20-3, 20-7, 20-11, 20-28; P 20-13
3/5/2009
Statement of Cash Flows
21
E 21-20, 21-23, 21-25, 21-26;
P 21-3
3/10/2009
Statement of Cash Flows
21
P 21-7, 21-13, 21-14
3/12/2009
Presentations on FAS 157
3/16/2009
Final – 300 Points (1:30 Class)
All
1:30 - 3:18 p.m.
3/18/2009
Final – 300 Points (3:30 Class)
All
3:30 - 5:18 p.m.
NOTE: Q denotes quiz on this date
FAS 158 P 17-4, 17-6, 17-9, 17-11, 17-14