CITY UNIVERSITY OF NEW YORK
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
Instructor
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 :jan_sweeney@baruch.cuny.edu or
swnyjan@hotmail.com
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
Textbook
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.
Professor Rita Ormsby is the Accounting Librarian. She is available to assist students and faculty in accessing Newman Library resources. Contact: Rita_Ormsby@baruch.cuny.edu
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.
Homework
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) |
5% |
|
6 Midterm Quizzes (10% each) |
60% |
|
Final examination |
40% |
|
Total |
105% |
|
|
|
|
|
|
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