ACC 407 Contemporary Topics in Financial Accounting
COURSE EXPECTATION
Professor Joseph Ragan
jragan@sju.edu
DESCRIPTION: This course explores current issues in the field of financial accounting,
reporting, display, and disclosure. The impact of IFRS implementation, changing valuation
techniques, and other contemporary topics on professional practice are considered.
Prerequisite ACC 206.
TEXTBOOK: CPA Review Financial, Irvin N. Gleim. 2011 Edition.
Web sites will be identified that will serve as a very important secondary sources of material. All
supplemental material will be posted on Blackboard under our course title. Students are expected
to access Blackboard and their SJU email address on a regular basis. Material will be posted at
least 24 hours in advance of the next class.
INSTRUCTION: Interactive lectures and online material. This course is being presented in a
hybrid lecture/online format. Lectures will be held on the main campus at the following times:
Monday, January 2 6:00 p.m. to 9:30 p.m.
Wednesday, January 4 6:00 p.m. to 9:30 p.m
Saturday, January 7 9:00 a.m. to 12:30 p.m.
Tuesday, January 10 6:00 p.m. to 9:30 p.m
Thursday, January 12 6:00 p.m. to 9:30 p.m
Saturday, January 14 9:00 a.m. to 12:30 p.m.
The balance of class time will be allocated for online instruction via narrated PowerPoint and
student simulations.
COURSE GOAL AND OBJECTIVES: To gain a working knowledge and understanding of
the theories and applications of modern accounting issues.
• You will become proficient with some of the tools used by accountants to make decisions.
• You will demonstrate comprehension of the theories and practical applications via CPA review
simulations.
EXAMS & MAKE-UP POLICY: There will be two exams throughout the intersession (one at
the end of each week) and a series of quizzes. In addition, students will use a simulation to create
real life CPA adapted exams in Financial Accounting. These exams will be taken by the students
and system graded.
Summary of Grading Components and Grade Scale:
Points
CPA Adapted Simulations
100
Quizzes
100
Mid Term Exam
100
Final Exam
100
Total Points
400
Final letter grades will be determined on a standard scale where:
A
AB+
B
BC+
C
CD+
D
DF
=
=
=
=
=
=
=
=
=
=
=
372 to 400 points
360 to 371 points
348 to 359 points
332 to 347 points
320 to 331 points
308 to 319 points
292 to 307 points
280 to 291 points
268 to 279 points
252 to 267 points
240 to 251 points
Below 240 points
WHAT WILL I LEARN? In addition to its many topics, this will teach you a lot about
professional judgments in accounting. It is specifically designed around topics that have
significant profile on the CPA Exam. We look not only at those topics but also in efficient
solutions using technology. Please note that I will be willing to give you any extra help
throughout the semester, as you may need. Plan to spend 2-3 hours of study between each class.
I mean about 2-3 legitimate hours between each class. The biggest problem creating low grades
in this class is inadequate preparation before class. Participation in class is also important.
Students should come to class having read material to be covered during class. Class attendance
will be taken.
ACADEMIC INTEGRITY:
Examinations: All examinations must be the exclusive work of the individual student.
Penalty for academic integrity violations: University-recommended sanctions for academic
integrity violations will be imposed. All academic integrity violations will be reported to the
Office for Student Life. Cheating or plagiarism will result in failure in the course.
STUDENTS WITH DISSABILITIES:
In accordance with state and federal laws, the University will make reasonable accommodations
for students with documented disabilities. For those who have or think that you may have a
disability requiring an accommodation (learning, physical, psychological) should contact
Services for Students with Disabilities, Room G10, Bellarmine, 610-660-1774 (voice) or 610660-1620 (TTY) as early as possible in the semester for additional information and so that an
accommodation, if appropriate, can be made in a timely manner. You will be required to provide
current (within 3 years) documentation of the disability.
For a more detailed explanation of the University’s accommodation process, as well as the
programs and services offered to students with disabilities, please go to
www.sju.edu/studentlife/studentresources/sess/ssd. If you have any difficulty accessing the
information on-line, please contact Services for Students with Disabilities at the telephone
numbers above.
TOPICS COVERED WITHIN THIS COURSE:
I.
II.
III.
IV.
V.
VI.
VII.
VIII.
IX.
X.
XI.
XII.
Financial reporting environment
Financial statements
Income statement items
Financial statement disclosure
Cash and investments
Receivables
Inventories
Property, plant, equipment, & intangible assets
Payables
Stockholders equity & business combinations
Governmental accounting
Non-for-profit accounting & reporting