ACC 647 Advanced Study in Financial Accounting and Reporting Course Syllabus

ACC 647
Advanced Study in Financial Accounting and Reporting
Course Syllabus
Office Hours:
Katie Davenport
Bryan 341
Tuesday and Thursday 1:30 – 2:30,
and by appointment
Course Description:
An in depth study and review of accounting and reporting represented on the four major
financial statements. This course is only offered online. This course is very time
intensive and will require study time of 20 or more hours per week.
Course Credit: 1 credit hour
ACC 642, and permission of Instructor or Program Director.
Course Objectives:
 LO 1: Understand business transactions in the context of the conceptual
framework of accounting,
 LO 2: Recognize the implications of details of accounting information related to
assets and liabilities and their impact on the business organization,
 LO 3: Interpret the meaning of combined reports of various types of organizations
and entities,
 LO 4: Evaluate the implications of advanced accounting issues such as derivatives
and impairments,
 LO 5: Evaluate the differences in not-for-profit accounting and financial
Required Text:
CPAexcel Courseware
You may either use the soft cover book or ebook. You must have access to the web-based
homework and testing materials (multiple choice questions, simulations, and quizzes).
Suggested Supplemental Text:
Intermediate Accounting 15th edition
Donald Kieso, Jerry Weygant, and Terry Warfield
Course grades will be determined as follows:
Comprehensive Final Exam
Plan of Study
Application to Sit For CPA Exam
Final Assessment
The grading scale is as follows:
B+ = 87 – 89
C+ = 77 - 79
A = 100 - 93
B = 83 - 86
C = 70 - 76
A- = 90 - 92
B- = 80 - 82
F = 69 and below
All grades will be posted on Blackboard. It is your responsibility to make sure they
are recorded correctly. Please contact me immediately if there is an error.
Academic Integrity Policy:
Students are expected to know and abide by the Academic Integrity Policy in all matters
pertaining to this course. Please visit for a copy of the policy.
Student Conduct:
Students are expected to know and abide by the Student Code of Conduct. Students who
behave in an unprofessional manner will be dismissed from the course. “An academic
community of integrity upholds accountability and depends upon action in the face of
wrongdoing. Every member of an academic community – student, group/organization,
faculty member, and staff – is responsible for upholding the integrity of the community.”
Please visit and for further information.
Student Disabilities:
Any request for special accommodation must come through the Office of Accessibility
Resources and Services with the appropriate paperwork. Please visit
for further information.
Students in Distress:
UNCG cares about your success as a student. We recognize that students often balance
many challenging personal issues and demands. Please take advantage of the University
resources designed to help. For assistance accessing these resources, please contact the
Dean of Students Office at 336.334.5514 or Student Academic Services at 336.334.5730.
The Counseling and Testing Center is available for mental health assistance at
Course Grading and Evaluation:
The final grade that you receive in this class depends upon your grades on homework assignments,
quizzes, completion of a plan of study, application to sit for the CPA exam, comprehensive final exam,
and an evaluation of the plan of study.
Homework Assignments:
Homework assignments are designed to help you master the material. You should watch the lectures
and complete the associated multiple choice questions and simulations assigned each week. You have
unlimited attempts to complete the homework assignments. Your goal should be to complete each
assignment with 100% accuracy and completion.
You will receive one homework grade each week. The grade will be an average of the grades you
receive on each segment assigned for the week. Note: Any lesson segment with a grade of 90% or
less will receive a zero for the segment. Completion of assignments after the due date will receive
a grade of zero. All homework must be completed in CPAexcel.
Cumulative quizzes will be given each week. Each quiz will consist of 50 multiple choice questions.
The quiz is timed. You will have one hour and forty-five minutes to complete each quiz. The quizzes
are closed book/closed note. You will only have one attempt to complete each quiz.
Comprehensive Final Exam:
A comprehensive final exam will be given on Saturday, May 3, 2014 from 3:30 pm – 6:30 pm. The
exam must be taken in person during the designated exam period. The final exam will count as 25% of
your final grade.
There are no make-up quizzes or exams except for approved University absences. If you are
unable to take a quiz, please try to notify me at least 48 hours prior to the quiz. Failure to notify
me within 24 hours after the scheduled quiz will result in a grade of zero. At the time of
notification, I will determine whether to consider the absence excused or unexcused and follow
University policy. In the event you miss a quiz for medical or psychological circumstances, you
must provide me with written verification.
Additional Assignments:
Study Plan
A written study plan outlining your plan to complete the requirements will be due. See Blackboard for
additional information regarding assignment requirements.
Application to Sit for the CPA Exam
A completed copy of the application to sit for the CPA Exam will be due. See Blackboard for additional
information regarding assignment requirements.
Evaluation of Study Plan
At the end of the session, an evaluation of your study plan should be submitted. See Blackboard for
additional information regarding assignment requirements.
March 21, 2014
March 23, 2014
Study Plan Due
Homework Assignment 1 Due
(LO 1)
March 24, 2014
March 28, 2014
March 30, 2014
Quiz 1 Due
Application to Sit for CPA Exam Due
Homework Assignment 2 Due
(LO 2)
March 31, 2014
April 6, 2014
Quiz 2 Due
Homework Assignment 3 Due
April 7, 2014
April 13, 2014
Quiz 3 Due
Homework Assignment 4 Due
(LO 3) (LO 4)
April 14, 2014
April 20, 2014
Quiz 4 Due
Homework Assignment 5 Due
(LO 4)
April 21, 2014
April 27, 2014
Quiz 5 Due
Homework Assignment 6 Due
(LO 5)
April 28, 2014
April 28, 2014
May 3, 2014
3:30 – 6:30
Quiz 6 Due
Evaluation of Study Plan Due
Final Exam
Topics Covered
Role and Standard Setting Process
Conceptual Framework
Fair Value Framework
International Accounting Standards
General Purpose Financial Statements
Other Financial Statements
Cash and Cash Equivalents and Receivables
Property, Plant, and Equipment
Equity and Debt Investments
Significant Influence/ No Significant Influence
Intangible Assets
Payables and Accrued Liabilities
Deferred Revenue
Long Term Debt
Revenue Recognition
Costs and Expenses
Deferred Compensation
Stock Compensation
Income Taxes
Accounting Changes and Error Corrections
Business Combinations
Acquisition Method of Accounting
Combined Financial Statements
Consolidating Process
Intercompany Transactions
Derivatives and Hedging
Foreign Currency Hedges
Contingencies, Commitments, and Guarantees
Earnings Per Share
Conversion of Foreign Financial Statements
Interim Financial Reporting
Distinguishing Liabilities From Equity
Nonmonetary Exchange
Not-for-Profit Accounting and Reporting
Formant and Content of Comprehensive Annual
Financial Reporting