ACC 374 - Driehaus College of Business

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ACC 374 – Auditing II
DePaul University
Professor:
Email:
Office:
Office Phone:
Office Hours:
Skype Hours:
Classroom:
Dr. Mary P. Mindak, Ph.D, C.P.A.
mmindak1@depaul.edu
6021 DePaul Center
312-362-5601
M/W 9:15-9:45 (AM) or by appointment
By appointment (Skype name: mary.p.mindak)
DePaul Center Room 7601
Winter Quarter 2014-2015
Sec. 501: M/W 10:10-11:40 AM
Required Texts:
(1) Principles of Auditing and Other Assurance Services (19th Edition), Whittington and Pany, Irwin McGraw
Hill. www.mhhe.com/whittington19e.
Course Description and Objectives
This course covers the implementation and application of generally accepted auditing standards to significant
accounts and processes. The class will cover topics that allow you to gain an understanding of fundamental
concepts, standards, procedures, tools and techniques used to plan and conduct audits. Objectives of the
course include understanding (1) audit risk assessment to properly audit specific accounts, (2) audit sampling
techniques, (3) and tests of controls and substantive testing procedures for accounts including cash, accounts
receivable, inventories, PP&E, accounts payable, debt, and stockholder’s equity. The course emphasizes the
importance of ethical behaviors, communication skills, analytical and critical thinking, technological competence
and teamwork.
Please note that the nature of this class is mostly conceptual and procedural, whereas most of your accounting
classes have been quantitative with one final solution (ex. LIFO calculations). Auditing entails using judgments
around auditing and accounting rules. You will need to adapt your study habits and approach to succeed in this
course.
Class Correspondence
The best way to reach me is through my email address at mmindak1@depaul.edu. Any important news or
reminders will also be sent through email so please make sure that your address on Campus Connect is current
so that you will receive these emails. Please note that I am in class on Mondays and Wednesdays from 10:10am
until 1:20pm.
Homework
Homework is due at the beginning of class for the date assigned on the syllabus. Any late submissions will
receive a 0.5 point deduction for each 5 minutes that the assignment is turned in late.
Team Case Study
We will be covering one case study in this class. Your team’s case submissions will be due prior to or at the
beginning of the class on the assigned dates. Late assignments will receive points off of the final case grade for
the entire team. Any assignments turned in after I begin the class are considered late. You will also provide a
team evaluation on the date that your final case submission is due.
Page 1 of 3
Exams
Exams will be given promptly at the start of the class. If you are late to the exam – you will not be given
additional time to complete the exam. If you are unable to make an exam date for a valid and documented
reason, please notify me ahead of time. You will then be given a different exam on a date that we schedule
together. If there is an emergency and you are unable to contact me ahead of time, please communicate with
me as soon as possible. Students who do not have a valid and documented excuse for missing an exam will not
be allowed to make up the exam.
Business Etiquette:
Since this is a business class, proper business etiquette is expected. Conduct like coming late to meetings,
turning in projects or work late, leaving meetings before they are over, having your cell phone on during
meetings, surfing the internet during a meeting, and talking while your boss is discussing important work
information would not be tolerated in the business world. The same conduct is expected in my classroom. If
you have a commitment that will make you late or need to leave early please tell me before class begins. I am
reasonable in my expectations and understand there are special situations, but I would like you to conduct
yourself in a business professional manner in and out of the classroom.
Grading
All points must be earned during the quarter as there are no points awarded or available after the quarter is
over. Any grades that are posted on D2L must be discussed within one week of posting in order to discuss any
discrepancies. Your grade will be determined as follows:
Grade Description
Points Possible
Overall Attendance and Etiquette
15 Points
Homework (10 points each)
30 Points
Case Study
100 Points
Exam 1
100 Points
Exam 2
120 Points
Exam 3 (Final)
160 Points
Total Points Possible
525 Points
Grading Scale
A = 93% and above
A- = 90%—92%
B+ =
B =
B- =
87%—89%
83%—86%
80%—82%
C+ =
C =
C- =
77%—79%
73%—76%
70%—72%
D =
F =
60%—69%
below 60%
Student Responsibilities:
Students who feel they may need an accommodation based on the impact of a disability should contact me
privately to discuss their specific needs. All discussions will remain confidential. To ensure that you receive the
most appropriate reasonable accommodation based on your needs, contact me as early as possible in the
quarter (preferably within the first week of class). Work done for this course must adhere to the University
Academic Integrity Policy , which you can review in the Student Handbook or by visiting Academic Integrity at
DePaul University (http://academicintegrity.depaul.edu). Cases of academic dishonesty are viewed as a serious
violation of professional ethics and will result in an F Grade. Students are expected to observe the School of
Accountancy and MIS code of Conduct, which can be found on Desire to Learn.
ACC 374 Tentative Course Outline and Assignments
Date
Mon.
Jan. 5th
Wed.
Jan. 7th
Mon.
Jan. 12th
Wed.
Jan. 14th
Mon.
Jan. 19th
Wed.
Jan. 21st
Mon.
Jan. 26th
Wed.
Jan. 28th
Mon.
Feb. 2nd
Wed.
Feb. 4th
Mon.
Feb. 9th
Wed.
Feb. 11th
Mon.
Feb. 16th
Wed.
Feb. 18th
Mon.
Feb. 23rd
Wed.
Feb. 25th
Mon.
Mar. 2nd
Wed.
Mar. 4th
Mon.
Mar. 9th
Wed.
Mar. 11th
Final Exam :
Chapter
Ch. 5-7
Topic
Introduction and
Audit Process Review
Ch. 5-7
Audit Process Review
Ch. 5-7
Audit Process Review
Ch. 5-7
Audit Process Review
Ch. 5-7
Ch. 9
Audit Process Review
Audit Sampling
Assignments
Chapter Pages
Ch. 5: Pgs. 137-155
Ch. 6: Pgs. 183-185, 193220,
Ch. 7: Pgs. 243-271
Homework #1 Due
Exam 1: Ch. 5-7
Ch. 9: Pgs. 331-345, 356358
Ch. 9
Audit Sampling
Ch. 10
Cash Audit Process
Ch. 10
Cash Audit Process
Catch up and Review
Ch. 11
Accounts Receivable, Notes
Receivable and Revenue
Ch. 11
Accounts Receivable, Notes
Receivable and Revenue
Overview of Case and In Class
Case Work
Ch. 10: Pgs. 381-407
Homework #2 Due
Ch. 11: Pgs. 431-464
Case #2 Provided
Exam 2: Ch. 9-11
Ch. 14
Accounts Payable
Ch. 14
Accounts Payable
Ch. 12
Inventory
Ch. 12
Inventory
Case #2, Part 2 Due
Speaker Event (Tentative
Date)
Homework #3 Due
PP&E, Debt and Equity
Capital
Case #2, Part 3 &4 Due
Ch. 13
& 15
Case #2, Part 1 Due
Ch. 14: Pgs. 564-584
Ch. 12: Pgs. 500-526
Ch. 13: Pgs. 538-552
Ch. 15: Pgs. 597-613
Review
Section
501
Some important dates:
1st day of class:
Last day to drop class with no penalty:
Last day of withdraw:
Class Time
10:10-11:40 Class
Exam Date
Mon. 3/16/2015
01/05/2015 (Monday)
01/16/2015 (Friday)
02/20/2015 (Friday)
Exam Time
8:45–11:00 AM
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