Towson University
Department of Accounting
Accounting 301: Intermediate Accounting I
Instructor: Dr. Seth Hammer
Spring 2010
Course Objectives
The objectives of the course are as follows:
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Understand the FASB’s Conceptual Framework of Accounting
Prepare adjusting, reversing, and closing journal entries
Prepare a multiple step income statement
Categorize accounts on a balance sheet
Allocate and calculate cash flows for a cash flow statement
Calculate revenues and expenses using alternative accounting methods
Identify motives for changing existing accounting methods
Analyze effects of errors on the financial statements
Understand and identify disclosure requirements
Demonstrate basic competence with a commercial accounting software
package
The above course objectives are presented in accordance with the CBE’s
(College of Business and Economics) commitment towards developing
student KSAs (Knowledge, Skills, and Attitudes) for success both as a
business professional and as a citizen contributing towards the betterment of
society. The KSs most applicable for this course are listed below:
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Know, apply and integrate the content of one’s major
Develop graphic, spreadsheet and financial analysis to support position
taken
Engage in active listening in individual and group settings
Generate and evaluate feasible alternatives
Develop comprehensive, justified conclusions and recommendations
using qualitative and quantitative tools
Use general and discipline specific software for state-of-the-practice
business applications
Display ethical conduct and honor-system behavior
Apply ethics in business decision-making, considering the impact on
multiple stakeholders
Be attentive, proactive and ready to learn
Meet commitments and complete tasks according to assigned
requirements
IMPORTANT NOTICE: Students are alerted, for purposes of personal time
management, that the demands of this course and most upper level
accounting courses are substantially greater than that of typical Principles
of Accounting courses.
Office Information
Location
100C Stephens Hall
Office hours: Tuesday: 1:00–2:00 and 5:30–6:30
Thursday: 1:30–2:00
And by appointment
Telephone
(410) 704-3083
Email –
shammer@towson.edu
Required Course Materials
1.
Intermediate Accounting (13th edition), by Kieso & Weygandt,
Wiley 2010
2.
Computer Accounting with Quickbooks Pro 08, (11th edition), by
Ulmer, McGraw-Hill 2009
Requirements for Completion of the Course
Two exams [25% each]
50.0 %
Final exam
37.5 %
Textbook homework assignments 7.5 %
Quickbooks accounting project
5.0 %
Class participation may be taken into account in deciding between grades on a
cusp. In accordance with Towson University policy, plus/minus grading will be
used.
Intermediate Accounting I is the first upper level accounting course and has a
highly rigorous curriculum. Students who believe it is reasonably possible
that they will be unable to complete the homework assignments and/or
miss more than one class are strongly encouraged to drop the course and
take it at a future time.
Exam Policy
Exams are designed to cover only the material that is discussed in class and/or
assigned for homework. Students are advised that not all material in the text is
discussed and similarly, all material discussed, is not covered in the text.
Make-up exams: students are expected to take exams at the designated time.
In cases where students cannot take an exam for last minute reasons, such as
sudden illness, make-up exams will be given. In general, these exams are more
comprehensive than the original, to compensate for the additional study time
allowed the student. Exception: students who know in advance that they face a
conflict (e.g., job interview, three exams in one day, etc.) may arrange, at least
five days in advance, to have their exam rescheduled. The rescheduled exam
would not be more comprehensive than the original.
Homework Assignments
Textbook homework assignments will be collected four times during the
semester. Students are allowed to skip one assignment, without penalty, during
the semester. While students are strongly encouraged to complete all homework
assignments, this policy is intended to provide a limited cushion in the event of
scheduling conflicts, illness, family emergencies, etc. Under no circumstances
will homework be accepted after the due date.
Each collected homework assignment will be assigned a grade of check or check
minus. Each check = full credit. Each check minus = ½ credit. In order to earn a
check, the homework must be fully and reasonably completed.
Where homework assignments are not collected, students may be called upon at
random to discuss their solutions.
Completion of homework assignments is highly emphasized in this course
because, historically, there has been a high correlation between student
fulfillment of homework responsibilities and exam performance.
Computer Accounting with Quickbooks
Students will be required to complete weekly homework assignments from the
Computer Accounting with Quickbooks and also Project 1. The weekly
assignments, which cover the first ten chapters of the textbook, are designed to
develop students’ skills so that they may successfully complete the project. The
project is the only Quickbooks related material collected and serves as the basis
for the Quickbooks grade.
2009-2010 TU H1N1 Influenza Policy Statement
“Students should not attend classes or other university events from the onset of
flu-like symptoms until at least 24 hours after the fever subsides without the use
of fever reducing medications. Such absences will be considered excused
absences; however, students are responsible for the material covered during the
period of their absence.”
Tentative Exam and Quickbooks Assignment Dates
Exams:
February 25
April 8
Final: May 13 (3::30 section), May 17 (2 P.M section)
Quickbooks
Feb 4
Chapter 1
Feb 11
Chapter 2
Feb 18
Chapter 3
March 4
Chapter 4
March 11
Chapter 5
March 25
Chapter 6
April 1 Chapters 7&8
April 15
Chapters 9&10
April 29
Project 10.1 [requirements on page 10.74]
Tentative Textbook Homework Assignments
Chapter 1
Financial Accounting and Accounting Standards
Cases [Referred to as “Concepts for Analysis”): 2,5,6,9,14
Chapter 2
Conceptual Framework Underlying Financial Accounting
Exercises: 2,3,5,8
Chapter 3
The Accounting Information System
Exercises: 1,2,5,8,24
Problems: 2,6,8,9,
Chapter 4
Income Statement and Related Information
Exercises: 3,4,5,11,12 Problems: 1,3,4, Cases: 4,5
Chapter 5
Balance Sheet and Statement of Cash Flows
Exercises: 2,4,6,14 Problem: ,7 Case: 3
Chapter 23
Statement of Cash Flows
Exercises: 5,6,11,12 Problems: 1,2,4,6,7,8
Chapter 18
Revenue Recognition
Exercises: 1,7 (a only), 8 (a only), 10 Problems: 2 (a only), 4
(a only), 8, 10
Case: 4
Chapter 22
Accounting Changes and Error Analysis
Question: 1 Exercises: 2,5,8,9 Case 4
Chapter 24
Full Disclosure in Financial Reporting
Questions: 1,3,4,5,6,8 Exercises: 2,3,4