Financial Accounting & Reporting I

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Control, Assurance and Auditing of Accounting Information
Acct. 4310
Fall Semester, 2005
Instructor:
Office:
Office Telephone:
Office Hours:
Class Meets:
Internet:
GTA:
Email
Dr. C. Wayne Alderman
342 Lowder Business Building
844-6209
T H 10:45 – 11:45 a.m.; and by appointment
T H 8:00 - 9:15 a.m. in Lowder 0112
T H 9:30 – 10:45 a.m. in Lowder 0112
http://www.business.auburn.edu/~alderman
Christopher Lambert; lambecb@auburn.edu
alderman@business.auburn.edu
Course Objectives
This course will further develop your understanding of accounting including:
(1) the nature of corporate reporting to constituencies (such as the Securities
and Exchange Commission, investors, and creditors), (2) the nature and purpose of
assurance (provided by auditors) on financial reporting, and (3) current issues
within the profession of accounting which influence the practice of assurance
services.
Assurance Services is one of the primary service lines within public
accounting firms. For many students, this course will provide the first glimpse
of what this service line entails. The importance of well-rounded business
knowledge, including fundamentals from finance, business policy and strategy,
production operations management, information technology, financial statement
analysis and managerial accounting, will show as you work through practical realworld accounting and auditing problems. You will also determine how the federal
government influences the assurance service line and gain a better awareness of
the dynamic environment in which CPAs must operate.
Prerequisites
Acct. 3120 (Intermediate Accounting II)
2.2 GPA
Course Materials
Required:
Messier, Glover, and Prawitt. Auditing and Assurance Services: A
Systematic Approach (4th Edition).
Suggested:
Auditing and Systems: Exam Question and Explanations, Gleim & Hillison,
2005.
Class Organization and Assignments
Class time will be divided between lecture/discussion and problem solving.
Certain homework problems will be used as demonstration problems and will be
discussed fully in class. Most problems will be covered by simply providing check
figures, or by responding to your questions on any unclear points in the
solution.
Reading and problem assignments are listed on the Schedule of Assignments.
Advance preparation for each class is expected. Assigned problems should be
completed on a timely basis so that (1) you will be able to benefit fully from
class discussion, and (2) you will be prepared to ask specific questions
concerning the more troublesome aspects of the assignment.
Paper
Each student is required to write a 5 page minimum (typed, double spaced)
paper on some aspect of the Sarbanes-Oxley Act or recent corporate frauds (e.g.,
HealthSouth and Enron). The paper should also include references and footnotes
(or source notes) as appropriate. The paper is due in class on October 4.
Plagiarism will result in charges before the University Academic Honesty
Committee.
Examinations
The course includes four examinations (including the final exam).
is comprehensive.
The final exam
Grades
Grades will be determined based on the following:
Exams (3)………………………………………………………………………………………………………………………………
Final Exam (Comprehensive)…………………………………………………………………………………
Individual Paper……………………………………………………………………………………………………………
TOTAL…………………………………………………………………………………………………………………………………………
300
100
50
450
(67%)
(22%)
(11%)
(100%)
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Exams include multiple-choice questions, which require a green scantron
sheet, and problems/discussion questions.
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A make up exam will only be given if a student misses an exam with an
acceptable excuse as outlined in the Tiger Cub. A medical excuse must
include a statement from the nurse on physician that the student was too
ill to participate in an exam. In the event that a student must miss an
exam, and is in accordance with Tiger Cub policy, the instructor must be
notified in writing in advance. Otherwise, a student will receive a zero
for that exam. Makeup exams will be given on Fridays from 4:00-5:15 p.m.
These exam dates will be selected by the instructor. A student who fails
to attend a makeup exam must have a valid excuse as described previously
in this policy. If not, a student will receive a grade of zero for the
makeup exam.
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Students may use a T1-1706 calculator during the exam. Any other
calculator will be taken up during the exam.
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After each exam, students will be allowed to view the exam both in class
and outside of class. The time and places for these opportunities will be
announced in class. No additional reviews will be allowed.
Academic Honesty

Each student is expected to comply with the University’s policy on academic
dishonesty. Any student who engages in any form of academic dishonesty is
subject to the maximum allowed disciplinary action.
General Points
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Drop policies dictated by the Auburn University Bulletin and the Tiger Cub
Student Handbook will be strictly followed. The drop date is October 7,
2005.
Any student, who, because of a disability, may require some special
arrangements in order to meet the course requirements, should contact me
as soon as possible to make the necessary accommodations.
Smoking, eating, and drinking (other than water) in class are prohibited.
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Students must have an overall 2.2 GPA to take upper-division business
courses. This prerequisite is strictly enforced.
No cell phones can be active in class.
Solutions to the textbook problems and exercises are on my website. You
will need the following information:
Username: student
Password: accounting
Disclaimer
The instructor reserves the right to change deadlines, the course schedule, and
classroom procedures and policies if circumstances dictate. Any such changes will
be announced in class.
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