Accounting 301-001, Cameron Hall 123 … 11:00 – 12:15
External Financial Reporting I
Fall 2011
Instructor:
Office:
Office Phone:
Home Phone:
Fax:
E-mail address:
Daniel Ivancevich
230-B, Cameron Hall
962-7681
452-0365 (between 9:00 AM and 9:00 PM)
962-3663
ivancevichd@uncw.edu
Class Schedule:
M/W 11:00 – 12:15
M/W 2:00 – 3:15
M/W 3:30 – 4:45
Office Hours:
Monday 10:00 – 11:00
Tuesday 10:00 – 1:00
Wednesday 10:00 – 11:00
Thursday 10:00 – 12:00
Or by appointment
Course Prerequisites:
Grade of “C” or better in ACG 201 and 203 and junior standing.
Required Materials:
Intermediate Accounting, 14th edition, Kieso, Weygandt, and Warfield
Calculator
Course Objective:
ACG 301 is the first course in a two course sequence. It is designed to present in-depth
coverage of financial accounting topics, as well as, recent developments in accounting
valuation and reporting practices promulgated by the leading professional accounting
organizations and applied by practitioners in industry and public accounting. Coverage
includes form and content of financial statements, financial accounting concepts and
procedures, asset management and income determination. In addition, students will
enhance their analytical and problem-solving skills.
Learning Objectives:
See attached schedule for learning objectives covered in each session.
Student’s Responsibilities:
You are going to work hard in this class. In order to comprehend the material, it is
important that you keep pace with the material being presented in class. In order to
accomplish this task, attendance is essential. If you miss a class for any reason, you are
responsible for turning in assignments, the material presented, and any items that may
have been distributed.
ACG 301-002
ACG 302-001
ACG 302-002
Cameron Hall 123
Cameron Hall 123
Cameron Hall 123
Class preparation is extremely important for success in ACG 301. I expect you to read
the assigned material before class. Completion and understanding the assigned
homework problems is essential to learning the material and performing well on the
quizzes and exams. I encourage the working of unassigned problems from the back of
the chapter in order to fully grasp the topics discussed in class. Solutions to the assigned
questions, brief exercises, exercises and problems are available on my web site.
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Grading:
Grades will be determined by the accumulation of points from exams, quizzes and other
graded material. Points will be determined in the following fashion:
Homework/Quizzes /Codification
Exam 1
Exam 2
Exam 3
Exam 4
Total
POINTS
15%
21.25%
21.25%
21.25%
21.25%
100%
Final grades will be based on the percentage of total points earned and assigned in the
following manner:
90% - 100%
A
87% - 89.9%
B+
80% - 86.9%
B
77% - 79.9%
C+
72% - 76.9%
C
68% - 71.9%
C60 – 67.9%
D
< 59.9%
F
Homework: I have assigned questions, brief exercises, exercises, problems, and cases
for you to work from each chapter. The assignments can be found on the schedule at the
back of this syllabus. Homework will be randomly collected and graded. Make sure you
bring your homework to class each and every day. If you are unable to attend class,
email your homework to me before class begins. No late homework assignments will
be accepted.
Codification Exercises: There are Professional Research: FASB Codification exercises
at the end of each chapter. I will assign a few of these throughout the semester. They
will be turned in separate from homework assignments. They will be graded on
correctness and included as part of the homework and quiz section of grading.
Codification Exercises must be typed and answers to the questions must contain cites
from the FASB Codification. I will email you the website address, log in code and
password to access the FASB Codification database. No late Codification Exercises
will be accepted.
Quizzes: Quizzes will be given throughout the semester. These quizzes are meant to test
your understanding of topics covered in class. If you miss a quiz, you will receive a
grade of zero for that quiz. If you are unable to attend class on a day when a quiz is due,
email your quiz to me before class begins. No late quizzes will be given or accepted.
Files on Professor’s Webpage: Students can find files related to ACG 301 on Dr.
Ivancevich’s web page. The address is www.csb.uncw.edu/people/ ivancevichd.
Exams: Exams will be comprised of the material that is presented in class. Reading
your book, reviewing your notes, and working the homework assignments and quizzes
will prepare you for the exams. The final exam will be administered according to the
university schedule.
Make-up exams: Exams after the exam date will not be given. I am willing to work
with you if you have to miss an exam. Arrangements will be made for you to take the
exam early. Students missing an exam for any reason will take a comprehensive final
exam. This comprehensive final exam score will replace the missed exam.
Future Accounting Courses: You must earn a grade of “C” or better in this class to
progress on to ACG 302. It is up to you to earn the grade.
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Harassment Issues:
UNCW practices a zero-tolerance policy for violence and harassment of any kind. For
emergencies contact UNCW CARE at 962-2273, Campus Police at 962-3184, or
Wilmington Police at 911. For University or community resources visit
http://uncw.edu/wrc/crisis.htm.
Honor Code:
As a student at UNCW, you are pledged to uphold and support the UNCW Student
Academic Honor Code:
The University of North Carolina Wilmington is a community of high academic
standards where academic integrity is valued. UNCW students are committed to honesty
and truthfulness in academic inquiry and in the pursuit of knowledge. This commitment
begins when new students matriculate at UNCW, continues as they create work of the
highest quality while part of the university community, and endures as a core value
throughout their lives.
Guidelines in support of the Honor Code, including definitions of cheating and
plagiarism, may be found at:
http://www.uncw.edu/policies/documents/03_100FINALHONORCODE_Aug2009.pdf
Cell phone Use:
There is no need to use cell phones in this class. Sending or receiving text messages or
cell phone calls is prohibited in this class. Treat this class like a professional work
meeting. You would/will not send or receive text messages or cell phone calls in a
professional work meeting.
Resources available to students: My office hours: I am here to help you. My office hours and phone numbers are listed
on the first page of the syllabus. If the office hours listed are not convenient for you,
contact me to set up an appointment that fits both of our schedules. I am more than
happy to try and help with any problems or questions you may have.
E-mail: I find email an excellent way to communicate information with my students, so
you will be asked to provide me with your email address. If you do not have an email
address, you need to get one. As a UNCW student, you are entitled to an email address
on the campus system. There are also numerous free email sites on the internet (i.e.
Hotmail.com, Yahoo.com). Be advised that you should check your email regularly to
make sure you do not miss something I send you. You are ultimately responsible for
any correspondence sent out over email.
I have also provided you with my email address. If you have a question regarding
something we covered in class or a homework problem, you can email me. I check my
email several times each day and will provide a prompt response to your questions or
concerns.
Study Groups: I would encourage you to form a study group with other students taking
ACG 301 this semester. The group can be used to work or review homework problems
and/or review material that has been presented in class. I find it is a very good way for
students to ensure that the material presented in class is being understood.
Book Website: Although I have provided helpful material on my personal website, the
book website contains an Online Companion Site for your use. You can connect to the
book website at:
http://www.wiley.com/WileyCDA/WileyTitle/productCd-EHEP001739.html .
Click on Student Companion Site link on the lower right of the screen to reach the
student content.
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Resources available to students: University Learning Center: Westside Hall, first floor; 910.962.7857;
http://www.uncw.edu/ulc
The University Learning Center’s (ULC) mission is to help students become successful,
independent learners. Tutoring at the ULC is NOT remediation: the ULC offers a
different type of learning opportunity for those students who want to increase the quality
of their education. ULC services are free to all UNCW students and include the
following: Learning Services, Math Services, Study Skills, Supplemental Instruction, and
Writing Services.
The ULC’s hours are shorter at the beginning of the semester and during exams (see
website for details: http://www.uncw.edu/stuaff/uls/hours.htm), but typically the ULC is
open:
Sunday
2pm – 9pm
Monday – Thursday
8am – 9pm
Friday
8am – 5pm
Students can schedule their own appointments online through our website:
http://www.uncw.edu/stuaff/uls/onlineappointment.html
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ACG 301
External Financial Reporting 1
Tentative Class Schedule
Date
Chapter/Topics
Reading
W 8/24
Course Introductions
Read Chapter 1
Read Chapter 2
M 8/29
Chapter 1: Financial Statements and Financial Reporting,
Standard Setting, GAAP, Issues in Financial Reporting
Read Chapter 3
W 8/31
Chapter 2: Conceptual Framework, Basic Objectives of
Financial Reporting, Fundamental Concepts, Recognition
and Measurement Concepts, FASB Codification
Chapter 2: Finish
Homework Assignments Due the Day Appear on the Schedule
Questions
Brief Exercises
Exercises
Ch 1: 2, 4, 12, 16,
27, 28
Chapter 3: Accounting Information System, Accounting
Cycle
Ch 1: CA 1-13
Ch 2: 2, 4, 8, 12,
20
Ch 2: 2, 7
M 9/5
W 9/7
LABOR DAY Holiday (No class)
Chapter 3: Accounting Cycle
Ch 3: 3, 7
Ch 3: 2
M 9/12
Chapter 3: Financial Statements
Ch 3: 11, 12
Ch 3: 9
W 9/14
Review for Exam #1 (Chapters 1, 2, and 3)
Exam #1 (Chapters 1, 2, and 3)
M 9/19
W 9/21
M 9/26
W 9/28
Chapter 4: Income Statement, Formats for Income
Statement, Reporting Irregular Items
Chapter 4: Reporting Irregular Items, Intraperiod Tax
Allocation, EPS, Retained Earnings Statement
Chapter 5: Balance Sheet, Usefulness, Limitations,
Classified Balance Sheet , Statement of Cash Flows,
Purpose, Content
Chapter 5: Overview of Preparation of SCF, Indirect
Method, Discuss of Direct Method, Usefulness, Additional
information, Supplemental Disclosures, Techniques of
Disclosure
Read Chapter 4
Read Chapter 5
Read Chapter 6
Problems/
Cases
Ch 2: 4, 5, 6, 9
Ch 3: 5, 6
Ch 3: 11
Ch 4: 6, 10
Ch 4: 1
Ch 4: 2, 4
Ch 4: 26, 30
Ch 4: 9
Ch 4: 15
Ch 5: 1, 9
Ch 5: 1, 4, 10
Ch 5: 1, 8, 11
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Date
M 10/3
W 10/5
Chapter/Topics
Chapter 6: Time Value of Money -- Basic
Concepts, Single Sum Problems
Chapter 6: Time Value of Money – Annuities,
Deferred Annuities, Valuation of Bonds
M 10/10
W 10/12
TH 10/13
FALL BREAK (No class)
Dr. I out of town
Last Day to WD
M 10/17
Chapter 6: Present Value Measurement
W 10/19
Review for Exam #2 (Chapters 4, 5, and 6)
Exam #2 (Chapters 4, 5, and 6)
M 10/24
W 10/26
M 10/31
W 11/2
Chapter 7: Cash, Cash Related Items, Accounts
Receivable
Chapter 7: Notes receivable, Fair Value Option,
Disposition of Receivables, Presentation and
Analysis
Chapter 8: Inventory Issues, Basics Inventory
Valuation, Physical Goods Included in Inventory,
Costs Included in Inventory
Chapter 8: Cost Flow Assumptions, LIFO
Reserve, LIFO Liquidation, Dollar-Value LIFO,
Advantages/Disadvantages
M 11/7
W 11/9
Chapter 9: LCM, Valuation Bases
Chapter 9: Gross Profit Method, Retail Inventory
Method, Presentation and Analysis
M 11/14
Exam #3 (Chapters 7, 8, and 9)
ACG 301
External Financial Reporting 1
Tentative Class Schedule
Homework Assignments Due the Day Appear on the Schedule
Reading
Questions
Brief Exercises
Exercises
Ch 5: 21, 24
Ch 5: 13
Ch 5: 13, 17
Problems
Ch 6: 1, 6
Ch 6: 1, 5, 6
Ch 6: 9, 13, 17
Ch 6: 11
Ch 6: 4, 7, 10,
Ch 6: 3
Ch 7: 1, 7, 8
Ch 7: 2
Ch 7: 5, 7, 9
Ch 7: 3
Ch 7: 16, 17, 21
Ch 7: 6, 8, 11
Ch 7: 16, 19
Ch 8: 3, 5
Ch 8: 2
Ch 8: 2
Ch 8: 13
Ch 9: 3
Ch 8: 5, 8
Ch 9: 2, 5
Ch 8: 13, 25
Ch 9: 1, 8
Ch 9: 10, 14
Ch 9: 7, 9
Ch 9: 12, 19
Read Chapter 7
Read Chapter 8
Read Chapter 9
Read Chapter 10
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Date
W 11/16
Chapter/Topics
Chapter 10: Acquisition of PPE, Valuation of PPE
M 11/21
W 11/23
Chapter 10: Costs Subsequent to Acquisition,
Disposition of PPE
THANKSGIVING Holiday (No class)
M 11/28
W 11/30
Chapter 11: Depreciation, Impairments
Chapter 11: Depletion, Presentation and Analysis
M 12/5
Chapter 12: Intangible Asset Issues, Types of
Intangibles
Chapter 12: Impairment, R&D Costs,
Presentation and Analysis
W 12/7
ACG 301
External Financial Reporting 1
Tentative Class Schedule
Homework Assignments Due the Day Appear on the Schedule
Reading
Questions
Brief Exercises
Exercises
Read Chapter 11
Ch 10: 7, 14
Ch 10: 1, 6, 7, 10
Ch 10: 8, 18
Read Chapter 12
Ch 10: 18, 23
Ch 11: 2, 10
Ch 10: 14
Ch 11: 1, 8
Ch 10: 22, 24
Ch 11: 3, 4, 13, 18
Ch 11: 23, 26
Ch 11: 9
Ch 11: 21
Ch 12: 3, 8, 13,
19
Ch 12: 1, 4, 7, 13
Ch 12: 4, 12, 14,
17
Problems
Ch 12: 5
Review for Exam #4 (Chapters 10, 11, and 12)
FINAL EXAM
ACG 301-001 Wed, 12/14 11:30 – 1:30
EXAM DATES:
EXAM #1
Wed, 9/14 (Chapters 1, 2, & 3)
EXAM #2
Mon, 10/17 (Chapters 4, 5 & 6)
EXAM #3
Wed, 11/9 (Chapters 7, 8 & 9)
EXAM #4
ACG 301-001 Wed, 12/14 (Chapters 10, 11 & 12)
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