Minnesota State University, Mankato
College of Business
Department of Accounting and Business Law
ACC 300 Intermediate Financial Accounting I
Course Syllabus
Dr. Marilyn Okleshen
Spring 2,001
Office: Morris Hall 225
Telephone: 389 5410
Fax: 507 389 5497
Email: marilyn.okleshen@mankato.msus.edu
Office Hours: M & W 10-11, 1-2, and by appointment
Prerequisite: Acc 210
Textbook and Supplements: Intermediate Accounting, 10e, Wiley, 2,000.
Interactive Financial Accounting Lab, Smith and Birney,V 2.5, McGraw Hill, 1998.
Financial Accounting Basics, Smith Birney, McGraw Hill, 1998
Self Study Problems/Solutions Book, V1, Chapters 1-14
Course: Objectives: To provide an in-depth analysis of financial accounting concepts and
procedures (why and how) focusing primarily on the following areas: the conceptual
framework, the accounting information system, the income statement, the balance sheet,
statement of cash flows, time value of money, cash, receivables, inventories, and related
theory and information.
Course Outcomes: Students should be able to:
Describe the history of standard setting in accounting, including the major policy setting
bodies and their roles in the process of standard setting.
Explain the conceptual framework of accounting.
Process financial accounting information, from identifying and recording transactions to
journalizing adjusting entries, and preparing financial accounting records.
Prepare income statement, and statements of retained earning in accordance with
generally accepted accounting principles.
Prepare balance sheets and statements of cash flows in accordance with generally
accepted accounting principles.
Apply present value and future value concepts of time value of money.
Apply generally accepted accounting principles to accounting for cash.
Apply generally accepted accounting principles to accounting for receivables.
Apply generally accepted accounting principles to inventory valuation.
Apply special valuation methods to inventories.
Use technology in processing accounting information throughout the accounting cycle.
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Grading Policy: Grades will be determined by relative percentage deciles of the
following point distribution:
Test Chapters 1 & 2
75 minutes
100 points
Test Chapter 3
75 minutes
100
Test Chapters 4 & 5
75 minutes
100
Test Chapter 6 & 7
75 minutes
100
Test Chapters 8 & 9 and Comprehensive Final 200
Smith Birney computer project
100
Homework, assignments and quizzes
up to 150
Maximum Total points
850
There is no provision for “curving” the grading distribution. You must meet the
requirements specified in the university catalog in order to receive an incomplete grade
for this course.
Course policies:
Daily class attendance is mandatory. A seating chart will be established early in the
semester, and attendance will be taken. This may affect your grade in two ways. A
student on the borderline, who attended regularly and was prepared for class, will be
given the benefit of the doubt in grade determination. A student with excessive absences
(defined as more than two class periods in a semester) may have his/her course grade
reduced by one letter grade. (This is an accounting department policy).
Intermediate accounting requires a serious investment in time and effort for successful
completion of the course. You are preparing for a profession that requires the highest
ethical and intellectual standards and a professional attitude. You may enhance your
efforts by studying in groups or exchanging telephone numbers or Email addresses so
you can converse with others about assignments. Plan on reading each chapter five
times. The first time, read the chapter quickly to familiarize yourself with new material.
The second time, read it slowly, while carefully recreating the information in examples
and exhibits. The third time you should outline the chapter on paper. The fourth time,
write in your textbook margins a sentence summarizing each paragraph. The fifth time
you read the chapter, you are studying for the upcoming test.
Tests are to be taken when scheduled. There is no provision for make up exams or
quizzes. Tests will be returned promptly to you, at which time the exam will be reviewed
in class. The exams are retained by the instructor. You may review your exams in my
office in preparation for the final exam. Exams will be destroyed two weeks after the
semester ends. Inquiries into grade adjustments must occur within that time frame.
There may be a quiz on each chapter, worth 5 points each. Calculators may be used on
exams but all supporting computations must be shown if full credit is to be given for
correct answers or partial credit for incorrect answers. Cheating on exams or quizzes will
result in a score of zero.
Be prepared for each class meeting. Students must come to class with daily assignments
prepared in advance in order to benefit from the class discussion and to correct your
assignment. Do not get behind in the class; catching up is virtually impossible.
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Homework is due on the day it is designated in the schedule agenda, but will be collected
on the test dates. (50 points is allowed if all homework assignments are completed).
Most assignments will be covered in class. A solutions manual is available in my office
for your review. A penalty of 10% per day will be assessed for late assignments, projects
or homework. Check figures are available on the Kieso Website for you to download. Be
sure to use the Digital Tool that is included in your textbook. Especially, take time to
read the writing handbook, discussion of ethics, self study questionsfor each chapter, and
annual report database of 30 companies.
Completion of the Smith Birney project is mandatory to receive a grade in Acc 300.
Guidelines for completion of the project are on following pages.
Please take advantage of my office hours that are available to meet with you whenever
you need help or to answer questions.
Accounting majors are required to keep a portfolio of writing samples that were
completed in each accounting course (ACC 300 and higher). In this course two writing
assignments dealing with ethics are to be inserted into your portfolio.
The instructor reserves the right to amend or adjust the class schedule or syllabus.
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Smith Birney Interactive Accounting Lab Project
Module Completion Dates
Accounting 300
Spring 2001
By Tuesday January 30: (Instructor will collect the software registration card)
Complete Orientation Tutorial (1,2,3)
Complete Module 1 (Accounting Equation 1 & 2 and quiz)
Complete Module 2 (Analyzing Transactions 1 & 2 and quiz)
By Tuesday February 6:
Complete Module 3 (Debit and Credit Rules 1 & 2 and quiz)
Complete Module 4 (Recording and Posting 1 & 2 and quiz)
By Tuesday February 13:
Complete Module 5 (Accrual and Cash Basis 1 & 2 and quiz)
Complete Module 6 (Adjusting entries 1 & 2 and quiz)
By Tuesday February 20:
Complete Module 7 (Worksheet and Accounting Cycle 1 & 2 and quiz)
Complete Module 8 (Deferrals and Reversals 1 & 2 and quiz)
By Tuesday February 27:
Complete Module 9 (Perpetual Inventory 1 & 2 and quiz)
Complete Module 10 (Periodic Inventory 1 & 2 and quiz)
Complete Module 11 (Subsidiary Ledgers and Special Journals 1 & 2 and quiz
By Thursday March 1:
Final course worklog due in instructor’s office by 12:00
Do not proceed beyond the material in the 11th Module
Using the CD-ROM that comes with the manual, this software may be installed on any
IBM compatible computer. It is also available in the College of Business computer lab,
Morris Hall 208. It is not available in the Academic Computer Center, though students in
the past have used the ACC and installed the software every time they wished to work on
the modules (if you use this method, be very sure to save your work to a floppy disk.).
Therefore if you do not have your own computer or access to one off campus you must
arrange time to work in the lab. The schedule for the lab changes each week and is
posted outside the lab.
The dates listed above are recommended completion dates for the modules. If you adhere
to this schedule, you will finish in time for the examination on these modules and will be
current with work we will be doing in class.
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You must print and turn in your work log showing your completion of the project and
your score by Thursday, March 1. Submission after that day will result in a late penalty
of 10% per day.
Important: Be sure to write down your software serial number as found on the
registration card which came with your manual, including the alphabetic numbers
preceding the numbers. Your must enter this serial number when you get to the step of
completing the employee information card, which you will complete when first entering
the software. Do not forget your password. When completing the employee information
card be sure to check the box under the secondary phone number indicating you will be
using the software both in the lab and away whether you intend to or not. Remember to
turn in your registration card to your instructor after installing the software or beginning
the project in Morris Hall 208 by January 30.
Instructions for Smith Birney Interactive Accounting Lab
These instructions are primarily for those working in MH208 College of Business
computer lab, but also contain information for other users.
How do you start? Take your Interactive Financial Accounting Lab book with you to the
lab. You will need the companion Financial Accounting Basics book for reference. You
will also need a formatted, high-density 3-½ inch disk. If you are using your own
persoc[l computer, open the book and follow the instructions.
If you are using MH 208, select and boot a computer. You need not select a printer
unless you plan to use the optional note pad or to print the final worklog evaluation
report. Open the applications folder. In the upper left hand corner is an icon for the
accounting lab. Double Click on this icon. The opening logo screen will appear. Click
on Enter Building. A dialog box will appear asking to enter you SS# and a password.
Enter your SS# without dashes and a password (combination of letters and numbers) The
first time that you do this the program will tell you that you are not registered. Click on
Register Me button. The New Employee information card will appear. Complete this
card in full, including the software serial number from the license card that came with
your package. Check the box, which indicates you will be work on more than one
computer (even if you plan to work on in the lab or on your won computer).
When you get to part B at the bottom use the following section number: 30001
Note: those people working on non-lab computers must also do this! If part B is grayed
out and inaccessible the first time, revisit the employee information card again after you
are into the software.
After you click on SAVE and EXIT dialog boxes will again appear asking you to confirm
your security number and password. When done, click on the REGISTRATION
COMPLETE box. This should take you back to the logo screen. Once again it will ask
for your social security number. This time, however, it should recognize you as
registered and proceed directly to the OFFICE LOBBY screen. Click on ENTER
OFFICE. The office screen now should appear. A fax may also automatically appear.
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Take a minute to explore the OFFICE LOBBY screen. Then, begin the Orientation
chapter. The orientation module is not graded but must be completed.
You will do the first 11 modules in addition to the orientation. Do not go beyond this
point. Your syllabus indicates 100 points for this project. Your performance on the
“blue” required problems and quiz will determine your overall percentage, and thereby
what portion of 100 points you will receive. Do not do the EXAMS shown in black on
the calendar pages for each module.
Your points on the project are affected only by accuracy. The time you take to finish a
module will not affect your score. The orientation module explains how you can check
your time and accuracy.
If you are working at home, you have checked that you will be working both at home and
at school, and if you have filled in section number in part B of the Employee Information
Card, you will need at 3 ½ inch disk. When you exit the software at the end of a work
session, your results will be saved on your floppy disk. This will keep your work at both
places synchronized. If you are working only at home or only in Morris Hall 208 lab a
disk is necessary for a backup for safety.
Please note that is important to exit properly when you finish a work session. First
return to the office lobby and click to LEAVE OFFICE. Then you click on LEAVE
BUILDING when you get to the main logo screen. You must use the “Leave Work” icon
on the main screen. It is at this time that your results are stored on the network (or home
computer) and on your floppy disk if you are working at both home and school. Do Not
Just Shut Off the Computer!!!
The project will require many hours of your effort. The intensive review of the financial
accounting cycle basics that if offers you will be very beneficial for you are as you
approach the upper level accounting courses. Previous students have provided a very
positive feedback about the Smith Birney project. There is a trend to use these types of
educational materials in all areas of education. This project will offer you a welcome
diversion from the traditional paper and pencil assignments. (But you will have those,
too!)
If you forget your password, just put in the wrong password four times and the software
will let you into the program anyway.
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