AUGSBURG COLLEGE
Department of Business Administration
ACC 322 Accounting Theory and Practice I
WEC Spring 2013 (WEC)
Instructor: Laura Lazar, Ph.D.
Office: By email or phone; otherwise before or after class
Cell phone: 612-332-9009
E-mail: lazar@augsburg.edu
Class time: Sunday, 1:00. - 5:00 p.m.
Class dates: April 7, 21, 28; May 12, 19; June 2, 16
Classroom: TBA
CLASS DESCRIPTION
An analysis of financial accounting with emphasis on accounting theory pertaining to financial statements,
income concepts, valuation concepts, FASB statements, and other relevant issues as applied to assets.
(Pre: ACC 222)
COURSE OBJECTIVES
Upon completion of this course, students should understand the environment and conceptual framework for
financial reporting in the United States. In addition they should have a better understanding of accounting
standards and practices for current and non-current assets and current liabilities.
CLASS MATERIALS
Students will need access to the course textbook and to online software for the homework:
Students who choose to use an e-book form of the textbook should purchase:
CengageNOW Instant Access ISBN-13: 9781285081519
(CengageNOW includes the e-book.)
Students who choose to use a paperbound textbook should purchase:
CengageNOW Instant Access ISBN-13: 9781285081519
and
Intermediate Accounting: Reporting and Analysis, 1st Edition, Wahlen, Jones, and Pagach, ISBN-13: 9781111822361
©2013
EXAMINATIONS AND GRADING POLICIES
See schedule for the exam dates and for material to be covered on each. Students may use a calculator on the
exams; however cell phone calculators and the sharing of calculators are prohibited.
The course grade will be calculated based on the following:
Three exams @ 25 each
Homework
75%
25
100%
Course grades will be assigned according to the following grading scale:
4.0 Achieves the highest standards of excellence
3.5
3.0 Achieves above basic course standards
2.5
2.0 Meets basic standards of the course
1.5
1.0 Performance below course standards
0.5
0.0
92% or more
87% - 91%
82% - 86%
77% - 81%
72% - 76%
67% - 71%
62% - 66%
57% - 61%
Below 57%
CengageNOW HOMEWORK
Homework assignments are on CengageNow.
To get credit for this course, you must register for and use the CengageNOW online program for homework
assignments, which you will find a useful tool in providing you a format for doing the homework. Information
regarding the assignments is available on CengageNOW.
Homework for each exam is due at the beginning of class on the day on which it is covered on an exam. No late
homework is accepted.
ACADEMIC HONESTY
Students should familiarize themselves with the Augsburg College Academic Honesty Policy at
http://www.augsburg.edu/studentguide/. The Augsburg College Academic Honesty Policy will be strictly
enforced.
AUGSBURG ACADEMIC ALERT INITIATIVE
Augsburg College makes student success a priority. As a result, this course participates in the Academic Alert
initiative. As the instructor of this course, I will refer you to your faculty adviser or other campus resources via
the Academic Alert process if it is apparent that you are struggling with issues such as attendance, class
participation, class preparedness, assignment preparation, and/or test performance.
Academic Alert messages are sent via e-mail to your Augsburg e-mail address. Additionally, alert messages are
copied to your faculty adviser and other campus resources. Your adviser may choose to contact you to discuss
ways to improve your performance in these areas. You also may be contacted by campus resources regarding
your situation. Referrals and departmental outreach are designed to maximize your chances of academic success
at Augsburg, not as a punishment.
Accommodation policies – CLASS program
According to the Augsburg catalog, Augsburg College offers the CLASS program “to assist academically
qualified students with disabilities to reach their individual potential, to promote their independence, and to
ensure their access to the educational experience at Augsburg College”. To learn more about their services,
contact the CLASS office at 612-330-1053 or class@augsburg.edu
CLASS SESSION
April 7
April 21
April 28
May 12
May 28
TOPICS
Environment of Financial Reporting
Financial Reporting: Its Conceptual Framework
Review of a Company’s Accounting System
The Balance Sheet and Statement of Changes in
Stockholders’ Equity
The Income Statement and Statement of Cash Flows
APRIL 11: LAST DAY TO DROP WITHOUT NOTATION
Cash and Receivables
Inventories: Cost Measurement and Flow Assumptions
Inventories: Special Valuation Issues
Exam 1 on Chapters 1 - 5
Current Liabilities and Contingent Obligations
TEXTBOOK READINGS
Chapters 1-2 (skim)
Chapters 3-5
Chapters 6 and 7
Chapter 8
Chapter 9
Property, Plant, and Equipment: Acquisition and
Chapter 10
Subsequent Investments
Exam 2 on Chapters 6 - 8
MAY 14: LAST DAY TO CHANGE GRADE OPTIONS OR WITHDRAW FROM CLASS
June 2
Depreciation, Depletion, Impairment, and Disposal
Intangibles
June 16
Exam 3 on Chapters 9 - 12
Chapters 11 and 12