Saint Louis University
School of Business and Administration
1.
ACCT 611
Syllabus
Course Number and Title:
ACCT 611 - Financial Reporting III
Credit Hours - 3
Prerequisite - ACC B411 - Financial Reporting II (grade of C or better)
2.
Course Description:
A study of advanced accounting topics including: accounting for business combinations (mergers
and acquisitions), preparation of consolidated financial statements and specific issues related to
intercompany investments. Significant coverage of accounting for not-for-profit entities is a major
portion of the course. Other selected topics of current interest may also be included. Discussion of
ethical implications will be included in many of these topics.
3.
Pedagogy:
Class sessions will be conducted in an informal lecture/discussion format, student participation is a
key part of each class and questions are encouraged. In some instances student groups or
individuals may be responsible for presenting topics or problem solutions to the class. Complete
reading and problem assignments will be made during the first meeting of the semester. It is
EXTREMELY IMPORTANT for students to have completed the reading and problem assignments
PRIOR to their coverage in class! STUDENTS ARE ENCOURAGED TO FORM SMALL STUDY
GROUPS!
Regular class attendance is critical to success in this course, and absences should be kept to an
ABSOLUTE MINIMUM. Students are responsible for all material and announcements in
classes they miss and should contact the instructor or classmates to obtain these items!
Instructor’s Web Page:
Course materials and other information will be available on the
instructor’s web page at
http://www.slu.edu/departments/accounting/keithleyj/
The course syllabus will be available at this site, along with PowerPoint lecture slides (indicated
within the detailed topical assignments), a message board and other items. Students should print
out the lecture slides and bring them to class! Use your own judgment in printing slides. In
most cases handouts of three to six per page would be most appropriate, however in some
instances; you may want to print only two per page. If you need assistance printing slides from
PowerPoint or accessing the web page, go to the CSB Computer Lab located in DS 473. This web
page will be the primary method of group communication between the instructor and students, and it
should be checked on a regular basis.
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4.
Assignments:
Specific assignments will be made by the instructor, but will include any or all of the following:
a.
Reading assignments from the text(s) or additional sources (appendices are included
unless specifically deleted). While key issues will be covered in class, not every portion of
the reading assignments can be discussed due to limited class time. Students have an
important responsibility to study material on their own! The instructor will be
available to discuss any assignment material outside of class.
b. Assignments for class discussion. These will be discussed in class. While students are not
required to submit these in written form, THEY SHOULD BE COMPLETED PRIOR TO THE
ASSIGNED CLASS AND READY FOR DISCUSSION!
c.
Written assignments. These assignments are to be submitted at the beginning of the
class period on the date assigned and will become a part of the student’s formal
evaluation for the semester. In some situations these assignments will be discussed in
class after they have been collected. Students should make copies of these
assignments for class discussion purposes. NO LATE WRITTEN ASSIGNMENTS
WILL BE ACCEPTED!
THE USE OF SPREADSHEET SOFTWARE IS AN INTEGRAL
SKILL WITHIN THE ACCOUNTING PROFESSION. ALL
QUANTITATIVE ASPECTS OF WRITTEN ASSIGNMENTS
SHOULD BE SUBMITTED USING EXCEL.
d.
5.
Student presentations. In some situations, students (either individually or in groups) may
be assigned class presentations. Specific guidelines for these presentations will be given by
the instructor. Makeup of student teams will attempt to provide a diversity of academic and
business experience, gender, and ethnic backgrounds.
Tests and Examinations:
The date(s), times, number, style, and topical coverage of examinations will be determined and
announced by the instructor. Students should expect examinations to cover MATERIAL FROM
ALL TYPES OF ASSIGNMENTS RELATED TO THE TOPICAL COVERAGE!
STUDENTS MAY NOT BE IN POSSESSION OF ANY
ELECTRONIC DEVICES, INCLUDING CELL PHONES AND PDA’s
DURING AN EXAM! ONLY SIMPLE FOUR-FUNCTION
CALCULATORS MAY BE USED.
6.
Supplementary materials: None required
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7.
Topical outline:
ACCOUNTING FOR NOT-FOR-PROFIT ENTITIES
Fundamental Concepts of Fund Accounting
Accounting for Governmental Entities
Accounting for Other Not-For-Profit Entities
ACCOUNTING FOR BUSINESS COMBINATIONS
Economic and Accounting Issues in Business Combinations
Purchase versus Pooling of Interests Accounting
Consolidated Financial Reports - Date of Acquisition
Consolidated Financial Reports - Postacquisition
Elimination of Intercompany Profits on Asset Transfers
Other Issues Related to Intercompany Investments
8.
Textbook(s):
Baker, Richard E., Valdean C. Lembke, Thomas E. King, and Cynthia G. Jeffrey, Advanced
Financial Accounting, Ninth edition. New York: McGraw-Hill, Inc. 2011.
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Dr. John P. Keithley
Office: DS 106
Phone: Office: 314-977-3856
Fax: 314-977-1473
ACCT 611
Assignment Sheet
Fall 2011
Email: keithley@slu.edu
Office Hours: Monday – 10:30 a.m. – 12:00 p.m.
Tuesday - 11:00 a.m. – 12:00 p.m. & 1:30 - 5:00 p.m.
Thursday – 11: 00 a.m. – 12:00 p.m. & 1:30 – 3:00 p.m.
OR BY APPOINTMENT
COURSE CALENDAR
Class
Meeting
Reading Assignment
Sept. 13 Orientation session
Chap. 17
(Slides: NFP Acctg Concepts)
20 Chaps. 17 & 18
(Slides: Governmental Reporting)
27 Chap. 18 & 19
(Slides: Other NFP Entities)
Oct. 4 Chap. 19
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EXAM: NFP ACCOUNTING
(75 minutes); Chap. 1
Discussion Assignment
E17-3; P17-14 E17-5;
E17-6;P17-15; P17-17
E18-2; E18-3; E18-4;
E18-6; E18-7
P18-21
E19-1; E19-2
P19-11; P19-19
E19-5; P19-21
Written
Assignment
P17-16 &
P17-18
P18-13 (use Debt
service fund) 45
pts
P19-20
(due - Oct 7. 5:00
p.m.)
E1-9; E1-11; E1-13;
E1-15; E1-17
(Slides: Concepts of Bus.
Combinations)
18 Chaps. 1 & 2
(Slides: Concepts of Equity
Method)
25 Chaps. 2 & 3 (omit pp. 113-116)
(Slides: Concepts of Consolidated
Statements)
Nov. 1 Chaps. 3 & 4
(Slides: Consolidations – Other
Issues)
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EXAM: CHAPS. 1-3
(90 minutes)
15 Chaps. 4 & 5
E1-24; Handout: Pooling
Concepts; E 2-4; E2-9
P1-43
(due – Oct. 23 –
5:00 p.m.)
E2-16; E2-17; P2-23;
P2-24; E3-7; E3-8; P3-30
Article reviews
P3-31; P3-35; P3-36;
E4-3; E4-4
P3-38 & P3-39
(due – Nov. 4 –
5:00 p.m.)
P2-25 & P2-26
(due – Oct. 30 –
5:00 p.m.)
E4-5; E4-6; P4-28
E5-13; E5-14; E5-16
P4-34
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Reading Assignment
Class
Meeting
Nov. 22 Chaps. 5, 6 & 9 (pp. 421-428)
(Slides: Intercompany
Inventory Transfers)
(Slides: (Preferred stock)
29 Chap. 9 (pp. 421-428)
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Discussion Assignment
Written Assignment
E6-6; E6-9; E6-10; E6-13
E9-6; E9-7; P9-23
P5-36 (45 points)
Handout: Preferred stock
P6-27 (Req. a & b);
FINAL EXAM (6:00 – 8:00 p.m.)
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GRADING SYSTEM
Grades will be based on the following evaluations:
Regular examinations:
Not-For-Profit
200
Chaps. 1-3
100
Final examination
200
Written assignments
300
Class participation
100
Research project (see detail)
100
Total points
1,000
Grading notes:
a. Nine written assignments are listed in the assignment schedule. Most are valued at 30 points (two
exceptions are valued at 45 points and noted) and are due on the date indicated. NO LATE
WRITTEN ASSIGNMENTS ARE ACCEPTED! If a student must miss a class, they should make
arrangements to submit the written assignments on time! Students should prepare a copy of these
assignments for their use during class discussion.
b. No makeup exams will be given. It is impossible to make an equivalent exam
without placing the student at either an advantage or disadvantage. If a
student misses an exam with a legitimate excuse, I will substitute the percentage
grade on the other exams taken during the semester.
Legitimate reasons:
Due to illness
Death in family
Other
Note from doctor
Note from family member
On a case by case basis
I must be informed before the exam for it to count as an excused absence. If you
cannot reach me directly, leave a message on my answering machine (either on
my office or home phone). Notifying me after the exam or quiz will result in a
grade of zero.
c.
Class participation will be evaluated based on a student's preparation for the discussion of individual
topics, and a demonstration of this preparation through meaningful dialogue during class sessions
or active participation during in-class exercises. Attendance will also be considered in this
evaluation (you cannot participate if you are absent).
d.
Research assignment: Guidelines are shown on following pages.
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Letter grades will be based on the following percentage scale:
Grading Scale
A = 93 and above
A- = 90 thru 92
B+ = 87 thru 89
B = 83 thru 86
B- = 80 thru 82
C+ = 77 thru 79
C = 70 thru 76
C- = 68 thru 69
D = 60 thru 69
F = 59 and below
Grade Point Equivalent
4.0
3.7
3.3
3.0
2.7
2.3
2.0
1.7
1.0
0.0
RESEARCH ASSIGNMENT
NOT-FOR-PROFITS AND INTERNAL CONTROL
The Sarbanes-Oxley Act (2002) placed significant emphasis on the importance of internal control, with new
responsibilities for management and the external auditors. In recent years greater attention has also been given to
internal control issues related to Not-For-Profit entities.
REQUIRED: Concisely review one journal article which deals with the significance of internal controls for not-forprofit entities. Also discuss the significance of the article and why you selected it. The article should be of sufficient
length to allow reasonable analysis of the subject matter.
a.
The article will most likely come from professional accounting or business journals (i.e.,
Journal of Accountancy, Accounting Horizons, Management Accounting, Accounting Today, CPA
Journal, Business Week, Fortune, Forbes, but it could also be
in a newspaper such as the Wall Street Journal.
b.
This article should have been published since January 1, 2005.
If you have any questions about the appropriateness of an article, check with the instructor. The focus of each review
should be an identification of the key question being raised in the article.
The review of the article should be a maximum of 5 pages. The specific reference for the article should be
given, but a hard copy is not required.
This review will be due on Tuesday, October 25, 2011.
(early submission will be welcomed)
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WRITING GUIDELINES FOR RESEARCH ASSIGNMENTS
1. The assignments must be typed and should be double-spaced. Papers should be of a high
professional quality. Assume you are submitting it for publication or to the CEO of your organization.
Significant reductions in credit will be made for technical writing errors!
2. References should be included where appropriate (a separate reference page should be included).
Any normally recognized reference style is acceptable.
While appropriate research is important in the completion of these assignments, simple repeating the
material in references is not sufficient. Your own evaluation of the reference material is the key
element which will be evaluated!
ASSESSMENT
The Department of Accounting takes the quality of its programs very seriously. As a result, assessments of
the level of achievement related to various learning goals will be conducted in specific courses. Learning
goals consistent with ACCT 611 may be assessed during the semester. Students will be required to follow
instructions regarding assessment as a condition of receiving their final grade.
A particular assignment may be used for assessment purposes as well graded and included in the
determination of your course grade. However, the rubric used for assessment purposes will be different
from the key used for grading purposes. This process will not mean any additional work for the students,
and their only responsibility will be to upload their solution to the assignment into a software package
(STEPS) by the due date indicated by the instructor.
For further information on the departmental assessment program, see the handout, “Department of
Accounting – Assessment Plan,” found on the course webpage.
“In recognition that people learn in a variety of ways and that learning is influenced by multiple factors (e.g.,
prior experience, study skills, learning disability), resources to support student success are available on
campus. Students who think they might benefit from these resources can find out more about:
·
Course-level support (e.g., faculty member, departmental resources, etc.) by asking your course
instructor.
·
University-level support (e.g., tutoring/writing services, Disability Services) by visiting the Student
Success Center (BSC 331) or by going to www.slu.edu/success.
Students who believe that, due to a disability, they could benefit from academic accommodations are
encouraged to contact Disability Services at 314-977-8885
<tel: 314-977-8885> or to visit the Student Success Center. Confidentiality will be observed in all inquiries.
Course instructors support student accommodation requests when an approved letter from Disability
Services has been received and when students discuss these accommodations with the instructor after
receipt of the approved letter.”
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ACADEMIC INTEGRITY
The following is a statement of minimum standards for student academic integrity at Saint Louis
University:
The University is a community of learning, whose effectiveness requires an environment of mutual trust
and integrity, such as would be expected at a Jesuit, Catholic institution. As members of this community,
students, faculty, and staff members share the responsibility to maintain this environment. Academic
dishonesty violates it. Although not all forms of academic dishonesty can be listed here, it can be said in
general that soliciting, receiving, or providing any unauthorized assistance in the completion of any work
submitted toward academic credit is dishonest. It not only violates the mutual trust necessary between
faculty and students but also undermines the validity of the University’s evaluation of students and takes
unfair advantage of fellow students. Further, it is the responsibility of any student who observes such
dishonest conduct to call it to the attention of a faculty member or administrator.
Examples of academic dishonesty would be copying from another student, copying from a book or class
notes during a closed-book exam, submitting materials authored by or editorially revised by another person
but presented as the student’s own work, copying a passage or text directly from a published source
without appropriately citing or recognizing that source, taking a test or doing an assignment or other
academic work for another student, tampering with another student=s work, securing or supplying in
advance a copy of an examination without the knowledge or consent of the instructor, and colluding with
another student or students to engage in an act of academic dishonesty.
Where there is clear indication of such dishonesty, a faculty member or administrator has the responsibility
to apply appropriate sanctions. Investigations of violations will be conducted in accord with standards and
procedures of the school or college through which the course or research is offered. Recommendations of
sanctions to be imposed will be made to the dean of the school or college in which the student is enrolled.
Possible sanctions for a violation of academic integrity include, but are not limited to, disciplinary probation,
suspension, and dismissal from the University.
Approved by the Council of Academic Deans and Directors, September 20, 2000.
Note: It is the policy of the John Cook School of Business at Saint Louis University that the
“Giving and Receiving of unauthorized assistance on any graded exercise constitutes academic
dishonesty and may result in grade reductions and/or probation, suspension, or dismissal.”
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Saint Louis University – John Cook School of Business
THE LEARNING ENVIRONMENT: SHARED EXPECTATIONS
EXPECTATIONS FOR STUDENTS
Students will treat their classroom obligations as they would treat any serious professional engagement.
That includes:
1. PREPARING THOROUGHLY for each session in accordance with the instructor’s requests;
2. ARRIVING PROMPTLY AND REMAINING until the end of each class meeting, except in unusual
circumstances;
3. PARTICIPATING FULLY & CONSTRUCTIVELY in all classroom activities and discussions;
4. DISPLAYING APPROPRIATE COURTESY to all involved in the class sessions. Courteous
behavior specifically entails communicating in a manner that respects, and is sensitive to, the
cultural, racial, sexual and other individual differences in the Cook School of Business community;
5. ADHERING TO DEADLINES AND TIMETABLES established by the instructor;
6. PROVIDING CONSTRUCTIVE FEEDBACK TO FACULTY MEMBERS regarding their performance
as an instructor. Students should be as objective in their comments about instructors as they
expect instructors to be in their evaluations of students.
EXPECTATIONS FOR FACULTY
1. PREPARING THOROUGHLY for class;
2. PUNCTUALITY in beginning class sessions, and except under unusual circumstances, adherence
to the established schedule for classes & exams;
3. PROVIDING SUFFICIENT INFORMATION and materials to enable students to prepare adequately
for class;
4. DISPLAYING APPROPRIATE COURTESY to all involved in the class sessions. Courteous
behavior specifically entails communicating in a manner that respects, and is sensitive to, the
cultural, racial, sexual and other individual differences in the Cook School of Business community;
5. SUPPLYING TIMELY INFORMATION ABOUT STUDENT PERFORMANCE on projects,
assignments, and examinations;
6. PROVIDING CONSTRUCTIVE FEEDBACK TO STUDENTS concerning their performance. Faculty
should be as objective in their feedback to students as they expect students to be in their evaluation
of faculty.