University of Nebraska at Omaha
Department of Accounting
Course Syllabus
Accounting 408
Principles of Auditing
Summer 2004
Office Hours: 3:00 – 4:00 TR
5:30 – 6:30 TR, and by appointment
Instructor:
Office:
Phone:
Fax:
Dr. Armitage
CBA 408 E
554-2912
554-3747
Email:
Jack_Armitage@unomaha.edu
Homepage: http://cba.unomaha.edu/vaculty/jarmitag/web/armitage.htm
Blackboard: http://myuno.unomaha.edu
I. Introduction
A. Accounting 4080-101, call number 10008, carries three semester hours of credit and
will meet Tuesdays and Thursdays, 6:00 to 9:30 PM, in RH 305.
B. Prerequisites
1. Accounting 303.
2. Accounting 308.
C. This course is required in the Accounting curriculum.
II. Description of Course and Its Objectives
A. Description: The course will consist of lectures and discussions relative to text
assignments, and problems emphasizing auditing procedures and principles.
B. Objectives: The objective of the course is for each student to obtain an
understanding of the theoretical and practice aspects of auditing. For this class, I
expect students to perform at the CPA Exam level of knowledge.
III. Text
A. Auditing, 10th Edition, 2002, by Jack C. Robertson and Timothy J. Louwers, Irwin
McGraw-Hill.
B. The Auditor: An Instructional Novella, 1999, by James K. Loebbecke, Prentice Hall
C. Optional - Student Study Guide.
IV. Course Content
Chapter
Title
1
Audit and Assurance Services
2
Professional Standards: The Rules of the Road
3
Reports on Audited Financial Statements
A
Assurance and Other Public Accounting Services
B
Professional Ethics
C
Legal Liability
D
Operational Auditing: Governmental and Internal Audits
4
Materiality and Risk
Test 1
5
6
7
E
G
8
9
10
11
Audit Planning
Internal Control Evaluation: Assessing Control Risk
Fraud Awareness Auditing: SAS No. 82 and Beyond
An Introduction to Audit Sampling
Tests of Balances with Dollar Value Sampling
Revenue and Collection Cycle
Acquisition and Expenditure Cycle
Production Cycle
Finance and Investment Cycle
Comprehensive Final Exam
V. Assignments
A. All assignments must be completed and submitted as requested.
1. All assignments are to be completed before coming to class. Homework
assignments will be discussed in class, but not collected.
2. Do not try to work the assignments during class.
3. Assignments are late if they are turned in after the due date no matter what the
reason. Late assignments receive one-half credit.
VI. Testing and Grading
A. Tests
1. There will be one examination during the semester, weighted approximately 120
points. Make-ups will be permitted; however, arrangements must be made prior
to the scheduled exam and a satisfactory excuse must be given or a 20-point
penalty will be assessed. The time for the make-up will be at the instructor’s
convenience and will generally be one or two weeks after the scheduled exam.
There are no grade-improvement projects available in this class. If you have a
bad test, you need to do better on the others to do well in the class.
2. There will be a comprehensive final exam weighted approximately 140 points.
The exam date will follow the schedule listed in the class schedule book. No
early or late finals will be given.
3. You may not leave the room during tests.
B. Other Assignments
1. There will be about 9 quizzes during the semester, each worth 10 points. Makeups are not permitted. Your lowest quiz score will be dropped.
2. There will be two, one-page papers worth 10 points each assigned during the
semester, which will require researching an issue in the auditing standards.
3. There will be assignments from The Auditor made during the semester worth 20
points.
4. There will be an assignment involving audit risk and materiality worth 20 points.
C. Grading
1. The final grade will be determined largely from the number of points accumulated
during the semester. However, class attendance, class participation, and the
prompt submission of properly completed assignments may be considered in the
determination of the final grade.
2. The grading scale is given below.
A
90 - 100%
C
70 - 75%
A88 - 90%
C68 - 70%
B+ 85 - 88%
D+ 65 - 68%
B
80 - 85%
D
60 - 65%
B78 - 80%
D58 - 60%
C+ 75 - 78%
F
Below 58%
VII. MISCELLANEOUS MATTERS
A. Attendance Policy
1. Attendance is expected. Students choosing not to attend class must bear the
consequences of that choice including missed tests, missed explanations,
instructor’s refusal to tutor on missed material, and so forth.
2. Any changes in due dates, test dates, or course content will be announced
during class. All information in the text as well as any information presented in
class is subject to test coverage.
3. Students who have official authorized absences will be permitted to make up
work without penalty in the classes missed.
B. Academic Dishonesty
1. Students are expected to do their own work in this class.
2. Any form of academic dishonesty will be sufficient grounds for receiving a grade
of F for the entire course.
C. Withdrawal Policy
1. The deadlines established by the University for withdrawing from classes will be
strictly followed.
2. The withdrawal deadline for this semester is June 4.
D. Requirements for Accounting Majors
1. A student may enroll only twice in any upper division accounting course. You are
enrolled in a course if your name appears on the final class list published
immediately after drop/add week. Therefore, you may drop a course only one
time (excluding drops during drop/add week). If you drop the same course twice
(or receive a grade of C-, D, or F twice), you will not be permitted to enroll in this
course a third time.
2. To enroll in any upper division accounting course or to graduate with a major in
accounting, a student must have earned at least a 2.5 overall grade point
average, as well as at least a 2.5 grade point average in all accounting courses
taken.
E. Grades of C- and Prerequisite Requirements
1. A prerequisite requirement of a grade of C or better is not met with a grade of C-.
2. A grade of C- is not acceptable for meeting graduation requirements.