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Baruch College

Stan Ross Department of Accountancy

Accountancy 3000

Fall 2003


Class sessions


Section TW 24A Tuesday/Thursday 2.30 – 4.10 Room 3125 VC

Section TW13A:  Mondays and Wednesdays, 2:30 PM - 4:10 PM



Jan Sweeney, Ph.D.

Address: Box 12-225, 55 Lexington Avenue, New York, N.Y. 10010

Office: Room 12-262; Telephone (646) 312-3201(Voice mail) or (646) 312-3160 (Department)

Fax: (646) 312-6161; E-Mail or

Office hours: Tuesday  4.30 – 5.30 pm and  Wednesdays, 6:00  – 7:00 pm, and by appointment


Course objectives


The goal of this course is developing skills for a successful career in professional accounting, including:


§                  technical understanding of alternative accounting concepts and practices, and their effects on

 financial statements

§                  broad ranging analysis and evaluation of the impact of alternative accounting methods on capital markets, managerial motivation and politics

§                  a solid set of ethical standards


The course presupposes mastery of the subject matter of all course prerequisites, especially introductory  financial accounting 3000.


Class format


Classes are lecture-discussion sessions with most of the time devoted to considering conceptual implications of homework problems.  From time to time, subject matter, not previously assigned, will be introduced.  Students are responsible for all subject matter covered in class or assigned for home­work.  The reading and homework assignments should be completed prior to class to maximize the learning experience.  Solutions to assigned  problems serve as the basis for the lecture and/or class discussion of conceptual issues.  Solutions are on reserve and will be posted on the web after class.  You should concentrate on understanding the rationale under­lying these solutions. 


Students are expected to register their e-mail addresses on Baruch College's Electronic Blackboard, and to monitor Blackboard for announcements, assignments, and messages about this course




 Kieso, Donald E, Weygandt, Jerry J., and Warfield,Terry D., Intermediate Accounting, Volume I and Chs 17 and 18 (11th ed.; John Wiley and Sons Inc., 2003).   The problem solving guide is optional


Selected articles, papers, class notes, and problems will be distributed throughout the semester.


Course Materials and Resources


Professor Rita Ormsby is the Accounting Librarian.  She is available to assist students and faculty in accessing Newman Library resources.  Contact:


Access to contemporary developments

·                New York Times:

·                Wall Street Journal:

·                Financial Accounting Standards Board:

·                Government Accounting Standards Board:


Class participation and professionalism


Only students aspiring to be professional accountants should enroll in this course.  Professional accountants are neat in attire and work habits.  They follow directions in preparing accurate, professional, audit work papers and tax returns.  You are expected to behave and perform on a professional level.


Professionalism includes attendance, timeliness, participation, submitting homework promptly, respect for others, high ethical standards, and general conduct consistent with your professional aspirations. Think of the class as a meeting of the board of directors.  Be punctual, turn off your cell phone, consume beverages (and clean up spills) discretely, discard beverage containers, wrappers, etc., in the appropriate receptacles.  Please don’t eat or repeatedly schedule interviews during board meetings.  If you have to be absent, find out from your co-workers what went on at the meeting, don’t draw attention to your absence by asking the President to give you a private review! At the meeting you will be assessed on the answers you give to issues arising from the agenda and on raising thoughtful questions


I will give each class member a large-type name card.  Please bring it to our class ” board meetings” everyday. I will maintain a seating chart. You are expected to sit in your assigned seat after the second week.




I have made every effort to assign readings and problems that are clearly worded, but English has it’s limitations in explaining and applying accounting concepts. If you have trouble with a problem, make assumptions that allow you to answer the question, avoid assumptions that make any answer impossible!  If you don’t have time to read and do the problems, DO THE PROBLEMS, SKIP THE READING.


Examinations and grading policy (approximate)




Special Merit Points for class participation and professionalism (5 brownie points)


 6 Midterm Quizzes  (10% each)


 Final examination








A passing grade on the final examination is required to pass the course. Constructive class participation (minimum of one special merit points) is required to earn an "A" as the final grade in the course.  Examinations may include essay questions.   Quizzes and examinations are closed book.


Examinations are cumulative with an emphasis on the more recent subject matter.  There are no make-up quizzes, and a make-up final examination is given only due to documented problems according to College policies, typically at the end of the next regular semester.  If you have a reasonable and documented excuse for missing a quiz and communicate it to me within one week, its weight will be dropped in determining your final grade; otherwise, you will receive a grade of 0.  If you or miss two or more quizzes you should drop the course. 


Academic honesty and integrity


Any form of academic dishonesty undermines the value of the academic degrees earned by all Baruch College students.  I expect you to honor Baruch College’s standards regarding academic honesty and integrity in course work and examinations, and to report violations by other students to the instructor immediately.  All reported incidents of academic misconduct will be kept confidential.  Using notes, giving or receiving help from another student during an examination constitutes cheating.  Any effort to gain an advantage not given to all students is dishonest and another form of cheating, even if the effort is unsuccessful. Students caught cheating risk severe academic penalties, including a failing grade on the examination, a failing grade in the course, suspension and/or dismissal from the College.


Suggestions for studying


(a)                           Prepare for each class session as if it were a board meeting.  Read the text BEFORE class.  You are going to read it sometime, so find time before class when it will be most beneficial to you.  If you are exposed to a concept or procedure for the first time in class, you will have difficulty grasping it.  We cannot hold up the class because class time is very limited. It is essential to grasp the conceptual material.


(b)                              Illustrations are worth a thousand words.  While reading, check the figures in the examples - mentally or with a calculator - and draw up the T accounts to make sure that you understand the relationships among the numbers, but don’t get bogged down in long numerical illustrations that stretch on for many pages.


(c)                               Work the assigned problems before looking at the solutions as if you were taking an examination.  Solving the problems without looking at the solutions is the best way to make sure you know how to tackle a problem on the exam and a good way to determine that you have grasped the material.  Consult solutions only when you get stuck.  Learning accounting is like learning to ride a bike -- you need practice!  Further, having learned to ride a bike, you do not forget how because the knowledge is generalized all over the brain, not in short or long term memory.  Consequently you cannot “draw a blank” on the exam.


(d)             Keep up with the course. This is a comprehensive course and the material builds upon itself. I have limited the number of problems assigned to those that can be covered in a reasonable amount of study time.  Procrastinating is a certain recipe for failure in this course.  It is almost impossible to absorb the material in intense study sessions prior to the exams. You need to schedule regular weekly times to study with the same intensity that you study just prior to exams. If you find you cannot cover the assigned problems in the time available, you should DROP THE COURSE.  All-night cram sessions are an especially poor way to study.  Lack of sleep reduces your ability to think and reduces the speed with which you can read and solve the exam problems.


(e)                              Form study groups.  Students who work together on homework assignments and who discuss the assigned reading understand the material better.  Studying together for quizzes and exams is also helpful.



Schedule of Meetings and Assignments


Date:                  Topic                                     Reading                      Assignments


9/2              Basic Accounting Cycle       Chapter 3                     Ch 3 P1


9/4                                                             Chapter 3& 3A                     E10,E12, E21, P7, P10, P11


9/9                                                             Chapter 4& 4A                     E 5, E 7, E 10, E 12, E 16             

9/11            Income Statement                Chapter 4& 4A                     P1, P4, P6            


9/16            Balance Sheet                       Chapter 5                     E6,E7,E8,E12,E 13,


9/18            Quiz 1 - Chapters 3 & 4

       Balance Sheet and               Chapter 5 & 5A                    E14,P3,P5,,P6

                   Statement of Cash Flows


9/23            Cash and Receivables                   Chapter 7 (except       E4,E7,E9,E10,E13,,E21,P2

                                                                   pp326 – 332)



9/25            Time Value of Money          Chapter 6 & 6A           E4,E6,E8,E9,E10,P9,P11,P12


9/30                  and Receivables            Chapters 6

and 7 pp326 – 332)     CHAPTER 7 P10,P11

10/ 2           Quiz 2 - Chs 5  & 7 (except pp326 – 332)

                   Inventories                           Chapter 8                     E2,E4,E5,E13,


10/9            Inventories                           Chapter 8                     E23,E25,P1,P3,P6,P9,P11


10/14          Inventories                           Chapter 9                     E2,E5,E6,E7,E12,


10/16          Quiz 3 - Chs 6 & 7 pp326 – 332 ONLY

Inventories                           Chapter 9 & 9A          


10/21          Inventories                           Chapter 9                     E22, P6, P8,P10,P11


10/23          Property, Plant                    Chapter 10                   E3,E4,E5,E11,18,22

                   and Equipment


10/28          Property, Plant                              Chapter 10                   E24,P1,P4,P7,P9,P10,

       and Equipment


10/30          Quiz 4 - Chs 8 & 9

                   Depreciation                         Chapter 11 &11 A       E2,E5,E6,P3, ,


11/4            Depreciation                         Chapter  11 &11A       E16,E17,E23,E24, P8,P9,P10


11/6           Intangible Assets                  Chapter 12 ;& 12B      E5,E6,E8,E13, P1


11/11          Intangible Assets                 Chapter 12; & 12A      E15,E16,E18,P3,P4,                      

11/13          Quiz 5 - Chs 10 & 11

                   Current Liabilities              Chapter 13  & 13A      E1,E4,E5,E10,E16,              


11/18          Current Liabilities              Chapter 13                   P1,P6,P12


11/20          Long Term Liabilities                   Chapter 14                   E9,E15,E16, P2, P4


11/25          Quiz 6 – Chs 12 & 13

Long Term Liabilities                   Chapter 14 and 14A   P5,P9,P10


12/2            Investments                          Chapter 17                   E3,E4,E6,E9,P1,P6


12/4            Investments                          Chapter 17, 17A &B   E10,E13, P8,P10,P12


12/6            Revenue Recognition                    Chapter 18                   E2, E4, E15,


12/9            Revenue Recognition                    Chapter 18 & 18A       P3, P17


12/11          Catch-up class