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CITY UNIVERSITY OF NEW YORK

Baruch College

Stan Ross Department of Accountancy

Accountancy 3100

Fall 2003

 

Class sessions

 

Section MW74A: Mondays and Wednesdays, 7:40 – 9:20 pm – Room 9150 VC

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

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,

  Mondays  6.00 – 7.00 pm only on Quiz days, 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 and intermediate 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 II (11th ed.; John Wiley and Sons Inc., 2003).   The Problem Solving Guide s 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: Rita_Ormsby@baruch.cuny.edu

 

Access to contemporary developments

·                                 New York Times: http://www.nytimes.com/

·                                 Wall Street Journal: http://www.collegejournal.com/

·                                 Financial Accounting Standards Board: http://www.fasb.org

·                                 Government Accounting Standards Board: http://www.gasb.org

 

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.

 

Problems with an asterisk are to be turned in for grading on the assigned date. If absent, FAX, e-mail, or snail mail the homework to me by the specified date. Treat all homework submissions as if you were doing a special project for your future employer and submit work you would be proud to submit to her.  Use a #2 soft lead pencil, not pen and ink.  Print your name in the upper right hand corner, surname first.  Solutions should be on wrinkle-free 8-1/2" x 11 sheets and should not be reduced, cut, creased, or smudged.  ALL machine copies of the solution manual are UNACCEPTABLE.

 

Examinations and grading policy (approximate)

 

Homework

5%

Class participation and professionalism (includes 2 brownie points)

 5%

 5 Midterm Quizzes  (12% each)

60%

Final examination

  33%

Total

102%

 

 

 

 

A passing grade on the final examination is required to pass the course.  In addition to superior performance on examinations, constructive class participation 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.

      

Tentative Outline

 

Date

Day

Class

Subject

Text

Problems (*Graded)

 

 

 

 

 

 

 

 

 

 

 

Sep

3

W

1

Introduction; Stockholder’s Equity

Chapter 15

 

*E 2, 14

 

 

 

 

 

 

 

 

 

 

 

8

M

2

Stockholder’s Equity and EPS

Chapters 15

 

*E 7, 17

 

 

 

 

 

 

 

 

 

 

 

10

W

3

Stockholder’s Equity and EPS

Chapters 15

 

*P10

 

 

 

 

 

 

 

 

 

 

 

15

M

4

Stockholder’s Equity and EPS

Chapters 15

 

*P12

 

 

 

 

 

 

 

 

 

 

 

17

W

5

Stock Compensation plans and Diluted EPS

Chapter 16

 

*E 4, E8, E22, P2

 

 

 

 

 

 

 

 

 

 

 

22

M

6

Quiz 1

Chapter 15

 

 

 

 

 

 

 

Stock Compensation plans and Diluted EPS

 Chapter 16

 

 

 

 

 

24

 

W

 

    7

 

Stock Compensation plans and Diluted EPS

 

Chapter 16

 

 

*E 8 11, 24, 25, P3

 

 

 

 

 

 

 

 

 

 

 

29

M

8

Stock Compensation plans and Diluted EPS

Chapter 16

 

*E 27, P4, 6, 8

 

 

 

 

 

 

 

 

 

 

Oct

1

W

9

Accounting for Income Taxes

Chapter 19

 

*E 8, 11

 

 

 

 

 

 

 

 

 

 

 

6

M

 

No Class

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

Tu

10

Accounting for Income Taxes

Chapter 19

 

*E 17, E 9

 

 

 

 

 

 

 

 

 

 

 

8

W

11

Quiz 2

Chapter 16

 

 

 

 

 

 

 

Accounting for Income Taxes

Chapter 19

 

*E 24, P7

 

 

13

M

 

No Class

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15

W

12

Accounting for Income Taxes

Chapter 19

 

*P 9, C 6

 

 

 

 

 

 

 

 

 

 

 

20

M

13

Accounting for Pensions

Chapter 20

 

*E9, 11, P2

 

 

 

 

 

 

 

 

 

 

 

 

 

Oct

22

W

14

Quiz 3 

Ch 19

 

 

 

 

 

 

 

 

 

Accounting for Pensions

Chapter 20

 

E8, E20, P4

 

 

 

 

27

M

15

Accounting for Pensions

Chapter 20

 

*E14, E15, P7,P 8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

29

W

16

Accounting for Pensions

Chapter 20

 

*P10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nov

3

M

17

Accounting for Leases

Chapter 21

 

*E 3,E 8, P2, C3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5

W

18

Quiz 4

Ch 20

 

 

 

 

 

 

 

 

 

Accounting for Leases

Chapter 21

 

 

 

 

 

 

10

M

19

Accounting for Leases

Chapter 21

 

*E 8, P3, P4,,C5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12

W*

20

Accounting for Leases

Chapter 21

 

*E 15, P10, P13,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17

M

21

Accounting Changes and Error Analysis

Chapter 22

 

*E 2, E4, P1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

19

W

22

Accounting Changes and Error Analysis

Chapter 22

 

*E 7, E11, P10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24

M

23

Statement of Cash Flows

Chapter 23

 

*E 1, E 5, E 13, P4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26

W

24

Quiz 5

Chapter 21 & 22

 

 

 

 

 

 

 

 

 

Statement of Cash Flows

Chapter 23

 

 

 

 

 

Dec

1

M

25

Statement of Cash Flows

Chapter 23

 

*E 20, E21, P9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

W

26

Statement of Cash Flows

Chapter 23

 

*E 20, E21, P9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

M

27

Full Disclosure in Financial Reporting

Chapter 24

 

*P 24, C 3, C6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10

W

28

Full Disclosure in Financial Reporting

Chapter 24

 

*C 9, C10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final examination as Scheduled

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November 14 is the last day to

withdraw