ACCOUNTING 303
INTERMEDIATE ACCOUNTING I
Spring 2009
PROFESSOR
OFFICE
PHONE
E-MAIL
Dr. David Kirch CPA, Ph.D.
326 Copeland Hall
593-9321 (Office)
kirch@ohiou.edu
OFFICE HOURS
Monday thru Thursday: 2-4 PM. I am here most of the time and, if I am here,
feel free to stop by.
MATERIALS
REQUIRED
A recent intermediate accounting text
Texas Instruments BA II Plus calculator (same as Acct 101)
CLASS:
Mon and Weds, 10-12 p.m.
PREREQUISITE:
ACCT 102
DATABASE:
Website: Dr. Kirch Acct 303
593-5400 (Home, before 10 p.m.)
(00696, A01, 118 Copeland)
http://asc.fasb.org/home
COURSE OBJECTIVES
ACCT 303 continues to refine the analytical, decision-making, and written and oral communication skills
needed for a successful business career. This course seeks to prepare students for careers in both private
and public accounting, finance, and business consulting. Specifically, it is intended to …
(1) simulate the decisions and tasks confronted by accountants
(2) promote technical competency
(3) help develop life-long research skills
(4) advance critical thinking
(5) foster communication skill development
COURSE DESCRIPTION
ACCT 303 represents an intensive study and application of generally accepted accounting principles
(GAAP) for asset and liability valuation, income measurement, and financial statement presentation for
business organizations and the processes through which these principles evolve. The course builds on
introductory financial accounting by covering, in detail, topics that are essential to preparing, reading,
understanding, interpreting, and using financial statements that are prepared in accordance with GAAP.
ACCT 303 is the first in a sequence of courses using the Business Activity Model (a.k.a. BAM). Working
in teams, students will analyze the financial records of a company and address various accounting issues.
Specifically, teams will correct financial statements prepared by a company’s management, and deal with
issues such as income recognition, start-up costs, capital asset vs. expense, common stock, EPS, income
taxes, cash flow computations, net present value, and disclosures. Upon completion of the course, students
should be able to prepare, read, understand, explain, and critically evaluate information contained in the
financial statements of a small to medium-sized company.
ACCOUNTING 303
RESOURCE MATERIALS
No specific textbook is required for this course.
While a textbook is one source of information for
issues and topics addressed in this course, your
primary resource will be the professional
pronouncements of the Financial Accounting
Standards Board. Access to the pronouncements
will be discussed throughout the intermediate
sequence.
Students will select any recent “intermediate”
accounting text, from any source such as on-line
sites or a local bookstore in your hometown.
Follett’s has agreed to order texts on demand.
That is, books may not be available in the
bookstore on a walk-in basis. The following
textbooks have been used in the past, all of
which are entitled “Intermediate Accounting.”
Kieso, Weygandt & Warfield/Wiley/12th Edition
Spiceland, Sepe, & Tomassini/ McGraw-Hill/
4th Edition.
Stice, Stice, & Skousen/South-Western/16th
Edition.
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designated group (G), each group is to work
independently of all other groups. Your group
should neither assist nor accept assistance from
other groups, including those who have taken the
course before. You are expected to report any
occurrences of such behavior by others. Any
information obtained from outside sources
MUST be footnoted to indicate the source.
Because of the nature of this course, academic
dishonesty also includes obtaining or
providing copies of materials used in the
course from anyone or to anyone other than
the professor. This includes obtaining
materials from previous ACCT 303 classes or
providing any material used in this course to
future ACCT 303 classes, either directly or
indirectly.
Any student who cheats or who assists another in
cheating will earn a grade of “0” for the
assignment and will be required to meet with the
Director of the School of Accountancy. If the
facts warrant further action, such student may be
dismissed from the class and/or may be subjected
to further sanctions by the School, the College,
or the University.
POLICIES
ACADEMIC DISHONESTY: The accounting
profession is based on the integrity and
independence of the accountant. There is no
place in the accounting profession for dishonesty.
You will sign a pledge of honesty on each exam
and assignment as a reminder of the vital
importance of maintaining your integrity.
Three examinations and certain assignments are
designated as individual (I) and must be your
own work. You can neither provide nor receive
assistance from others, including those who have
taken the course before. For assignments
DISABILITY: Every reasonable attempt will be
made to remove any physical barrier that
hampers the ability of an individual to learn in
this classroom. Anyone with a physical or
learning limitation that would have an adverse
impact on attendance, preparation, participation,
or timely completion of assignments should
discuss this limitation with me. The College of
Business and its faculty are committed to
supporting efforts for a quality education. For
additional assistance, students should call
Handicapped Student Services at 593-2620.
ACCOUNTING 303
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STUDENT EVALUATION
INDIVIDUAL PERFORMANCE
Take Home Quizzes (2 @ 30 each)
Memos (3 @ 10 each)
***Midterm Exams (2 @ 100 each)
***Final Exam
Kona Coffee Company
Journal and Adjusting Entries
Trial Balance and Spreadsheet
Balance Sheet
Income Statement
Statement of Shareholders’ Equity
Cash Flow Statement
Participation
Total Individual Performance
POINTS
60
30
200
100
10
5
12.5
7.5
5
10
50
20
460
***IMPORTANT NOTE*** You must earn an average of 55% on the three in-class
examinations in order to move on to Accounting 304.
GROUP PERFORMANCE (Subject to Peer Evaluation Scores)
The Bounce Company
Trial Balance and Spreadsheet Formatting
Journal and Adjusting Entries
Balance Sheet
Income Statement
Statement of Shareholders’ Equity
Cash Flow Statement
Financial Statement Analysis
Presentation of Accounting Topic
Hydromaint Case - Year 1
Engagement Letter
Questions
Adjusting Entries
Review Report
Financial Statements
Notes
Total Group Performance
TOTAL
5
15
5
10
5
10
5
15
15
5
45
15
50
15
15
100
180
640
We will discuss the group projects in greater detail as we approach them. The Kona Coffee Company and the
Bounce Company assignments require extensive use of Excel spreadsheets including advanced formatting
techniques. Brush up if you need to.
ACCOUNTING 303
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ASSESSMENTS
All assignments are due at the
BEGINNING of class unless otherwise
noted. Late assignments (i.e., during/after
class) will be penalized 20 percent if turned in
the day they are due, and 50 percent if turned in
the day after they are due. While all assignments
must be turned in, no credit will be given for
assignments turned in two days past the due date.
MEMOS: The memos address current “Hot”
topics facing the accounting profession and
require students to take a position on the issues.
As you support your position, you must cite
all sources used. These important topics present
a backdrop for the next three quarters. While
each memo is worth 10 points, they are not
optional. Memos more than one week late will
receive -10 points, two weeks, -20, etc. It is in
your best interest to complete the memos on a
timely basis. Each memo must be submitted to
turnitin.com before grading. Guidelines will be
posted: a 12-point serif font must be used.
EXAMS: Exams are where students demonstrate
their mastery of the material. Exams are
cumulative in the sense that the material builds
on prior topics
Healthy debate and honest disagreements are
encouraged. However, it is important to be
respectful when others are contributing to the
discussion. This means, among other things,
avoiding side conversations when another is
speaking. Students should ask questions and seek
clarification when confused; others may have
similar concerns. Participation points may be
reduced based on attitude concerns.
ATTENDANCE: The most important ingredient
to success in this course is keeping up with the
schedule. You are expected to attend class, come
prepared, and actively participate in class
discussions. You are responsible for any
material presented in any class that you miss.
Much of the material covered is outside the text.
Consequently, your class notes will be important
in studying for exams -- more important than rereading the text. Absences will strongly affect
your grade. If you are not able to attend class,
please notify me by e-mail or phone -- a
professional courtesy and something you would
do in the workplace.
Make-up exams must be arranged in advance.
Provide at least two weeks notice if possible.
Make-up exams for conflicts such as religious
observances or University-sponsored activities
will be scheduled at mutually agreeable times.
PROFESSIONALISM: Ohio University is a
community of students, faculty, and
administrators who come together to learn, work
and grow in moral, ethical, and professional
character. Central to the concept of “community”
is belief in the importance of honorable behavior
for oneself and for the community as a whole.
This course is student-centered, where each
student is encouraged to achieve personal and
academic growth in a supportive environment.
CLASS PARTICIPATION: Business professionals must be able to articulate positions and ask
ACCOUNTING 303
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probing questions. Class participation is important for your professional development and will affect
your final grade. Some objective guidelines for points follow. Count on a loss of four points for each
unexcused absence. Students must attend at least 60 percent of the 40 contact hours to pass the course.
POINTS
CRITERIA
20
Attended all classes … unless, if required to be away from class, notified me in
advance. Actively participated in discussions. My “Go to Person.” If no one
would join the discussion, I could count on him/her to help. Positive attitude.
16
Often contributed to the discussion and positive attitude. Attended all classes.
12
Occasionally contributed to the discussion and positive attitude. Attended all
classes.
10
Attend all classes but did not contribute
If you miss more than one class, I will deduct 25 points from your total for each class
over one missed
BONUS OPPORTUNITIES: Attend one Accounting Association/ Beta Alpha Psi meeting and earn four (4)
points. Attend a second Accounting Association/ Beta Alpha Psi meeting and earn an additional four (4)
points. Other opportunities for bonus points may be announced, which include the annual spring field trip.
FINAL GRADE DETERMINATION: Final grades will be determined by the number of points earned out
of the total available. In order to receive a grade of “C” or better, you must earn at least 73 percent of the
total points available, as found on page 3 of this syllabus. You must earn a “C” or better in this class to
take ACCT 304. Grades of “I” are rare, except for hospitalization, death in the family, or military service.
The standardized grading scale follows:
A
AB+
B
BC+
93 - 100%
90 - 92
87 - 89
83 - 86
80 - 82
77 - 79
C
CD+
D
DF
73 - 76
70 - 72
67 - 69
63 - 66
60 - 62
< 60%
All team assignments will be subjected to a peer evaluation system in which individual grades can be
increased or decreased from team grades, based on contribution. If a team member fails to contribute,
do not put his/her name on the assignment.
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