| Accounting 300 ~ Intermediate I |
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TABLE OF CONTENTS
| PURPOSE | PREREQUISITES | COURSE MATERIAL
| GRADING POLICY | WITHDRAWALS | COURSE SCHEDULE
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Section A01 (39289) |
Hours
8:00am - 8:30amMondayTuesdayWednesdayThursday
10:00am - 10:30amMondayTuesdayWednesdayThursday
12:30pm - 1:30pmMondayTuesdayWednesday
~~ Other times as needed ~~ | ||||||||||||||||||||||||||||
| PURPOSE |
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| The purpose of this course is to provide: 1) a comprehensive review of the financial accounting concepts, relationships, and procedures involved in the preparation and interpretation of financial statements used by private business organizations; 2) an in-depth coverage of the valuation, measurement, and reporting of financial accounting issues associated with CURRENT ASSETS . Students are expected to understand the financial accounting theory and concepts that underlie the accounting issues covered in the course as well as to become technically proficient regarding the accounting principles governing the reporting of financial statement items. |
| PREREQUISITES |
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| The prerequisite for ACCT 300 is completion of ACCT 200 with a grade of "B" or better. If the prerequisite is not met, you will not be allowed to stay enrolled in ACCT 300. |
| COURSE MATERIAL |
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| INTERMEDIATE ACCOUNTING - Sixteenth Edition by Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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| WILEY PLUS
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TEXT WEBSITE:
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This class utilizes the "DAY-ONE ACCESS" program whereby the bookstore charges to your university account the cost of the WileyPLUS registration code. There is a separate option to purchase a paper copy of the text. For those not wanting to participate, you must "OPT OUT" of the process. |
| GRADING POLICY |
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| TOTAL POINTS: Grades (See Grading Scale) will be assigned based upon the total points accumulated from various activities. These activities, and the weights assigned, are as follows: |
| Activity | Points | Pct
| EXAMS | 1,600 | .800
| QUIZZES | 280 | .140
| PROJECTS | 120 | .060
| TOTAL | 2,000 |
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| EXAMS: (1,600 points) A total of 4 regular exams and 1 final exam will be given during the summer session. All material in the text, except for sections skipped as announced, will be fair game for exam questions. * REGULAR EXAMS (1,225 pts) - For each of the 4 exams, there will be a mixture of conceptual (approximately 50-60%) and computational (approximately 40-50%) questions; however, all questions will be of the multiple choice format. As such, there will be no partial credit. The conceptual questions will address the major points discussed in class as well as in the textbook. Computational questions will resemble not only those worked in class, but also those found on the practice quizzes and the WileyPLUS homework and quizzes. Each exam will cover two chapters, with 20 questions asked from each chapter. The exception is Exam 1 which will only have 20 questons total (chapter 2 and a portion of chapter 1.) Thus, the total number of regular exam questions for the course is 140. A 12.5% (1/8) cushion provides for a total of 124.444 questions possible. The regular exam portion of the final score is determined by dividing the total number of questions answered correctly on the four exams by 140, multiplying by 1.125, and then multiplying by 1,225. Exams are to be taken on the CLASS day scheduled (see course CALENDAR), as there are no "makeup" exams.
* FINAL EXAM (375 pts) - A comprehensive final exam will be given at the conclusion of the summer session. The exam will include 70 multiple choice questions that are different from what was asked on the regular exams, and distributed equally across the chapters we cover (1-5, 7-9). The same 1/8 cushion is available for the final, thus making 62.222 questions possible. As the final exam is comprehensive, you will be allowed to use 100% of the difference between the final exam pct and your lowest regular "chapter" exam pct (provided the final pct is higher) to augment your regular exam points. The final will be given on Wednesday, July 03 from 10:30am till 1:00pm, so plan accordingly. This allows for a total time of 2.5 hours (see course CALENDAR).
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| QUIZZES: (280 points) We'll designate our quizzes as being either: 1) WileyPLUS Homework, or 2) WileyPLUS Quiz; however, both types of quizzes will be administered through the WileyPLUS program. * HOMEWORK (190 pts) - A total of 209 points will be available from all of the WileyPLUS homework assignments, with a minimum of 25 points from each of the chapters (3-5, 7-9). You will be allowed to "keep" all of the points earned (a potential 19 point bonus). Scoring is done by the following procedure: try #1, #2, #3, #4 = 100% of score (no penalty for each successive try). NOTE: There is NO makeup of any missed assignment - regardless of the reason.
* WILEYPLUS QUIZZES (90 pts) - A total of 102 points will be available from all of the WileyPLUS quizzes (17 points from each chapter 3-5, 7-9), allowing for a potential bonus of 12 points. Scoring is done as follows: try #1, #2 = 100% (no penalty for each successive try). As with the homework, no makeup assignments are available. |
| PROJECTS: (120 points)Three types of projects will be completed during the summer session: "Words", computer spreadsheet, and accounting cycle.
* WORDS (30 pts) - Accompanying Exam 1 will be a word completion project, listing out the various words relating to Chapter 1 and Chapter 2. Included in this project are the identification of the initials of various accounting organizations and terms, as well as a listing of the Qualities, Ingredients, Concepts, and Components from the conceptual framework. Although not a spelling test, the student will supply the correct word(s) required.
* COMPUTER PROJECTS (30 pts) - There will be 1 computer spreadsheet project required during the summer session. The project will be graded for both accuracy and format. To receive credit for the project, a printed copy of the output as well as the file (emailed) utilizing spreadsheet "formulas" must be submitted. Failure to follow directions as specified in the project will result in lowering of the score received. The computer project is NOT a group effort, with each student responsible for submitting their own, original work. A copy of the project will be available on the web site (see PROJECTS info). Due date will be stated on the project (see course CALENDAR). NOTE: Your spreadsheet MUST be done in one of the following programs (Corel QuattroPro or Microsoft Excel) as these are the only programs that I can open.
* ACCOUNTING CYCLE PROJECTS (60 pts) - To gain additional exposure to the accounting cycle, various projects (to be completed through the WileyPLUS program) related to the accounting cycle will be completed. Each of these projects will concentrate on a unique portion of the accounting cycle, and will involve different types of information and formats. These projects are to be done individually as, like the computer project, this is not a group effort. You will be notified when the projects are ready to be accessed (see PROJECTS info). Due dates will be stated on the project. (see course CALENDAR).
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| GRADING SCALE: Grades will be assigned following the completion of the course based upon the total points accumulated from the above activities (and ONLY the above activities) using the following scale. |
| Gr | Pct | Point Range
| A | .8850 | 1,770 | - | 2,000
| B | .7800 | 1,560 | - | < 1,770
| C | .6750 | 1,350 | - | < 1,560
| D | .5700 | 1,140 | - | < 1,350
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| The critical point for accounting majors is the "C" cutoff. To continue in the program (taking ACCT 301, Intermediate II), you must make at least a C. There is no deviation from the stated scale, and there are no other activities that can be done for additional points. However, grade adjustment is available through exam performance. If you are within 50 raw points of the next grade level (as specified above), THEN grade adjustment will be enacted. These points are not bonus points, and are considered only if you fall within the 50 point range. |
| GRADE ADJUSTMENT: (50 adjustment points) The summer session only has one means by which you can obtain adjustment points: exam performance. For purposes of this adjustment, we'll treat each chapter on the regular exams as a separate exam. So, on each regular "exam" (final exam) in which you obtain the grade level that you are trying to meet, 5.5 (11.5) ADJUSTMENT points may be earned by obtaining that grade on the exam. For example, if you end the summer session just short of the number of points required to receive a "B", you would receive 5.5 (11.5) adjustment points for each regular (final) exam in which you got an "A" or "B". The number of questions answered correctly to receive a grade on the exams is as follows:
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| OTHER: It is your responsibility to ensure that your grade is being computed and recorded correctly. You will be assigned a class ID# known only by you. A summary of your performance (see SCOREBOARD) will be available on the web site to allow you to verify the points earned from the various activities. Any discrepancy should be addressed prior to the end of the summer session.
Since the exams are given during class, that leaves 23 class days to cover the 7+ chapters in as detailed a manner as possible. Thus, no class time will be devoted to the return or discussion of the exams. However, you may seek additional clarification/guidance about any activity outside of class. You can review each exam up until the next exam is given (ex - exam 2 given on 6/5; last date to review exam 1 - 6/4). Last date to review exam 4 is 7/1. All exams will be retained for approximately 2 weeks into the fall semester. Cell phones are NOT to be used as a calculator during the exams. In addition, there is no "Sharing" of a calculator - bring your own! ! WARNING ! Anyone complaining about the amount of work required to complete, and/or the amount of points available upon completion of any non-exam activity will be the proud recipient of a big, juicy 0 on that activity. The objective of these activities is not the number of points received, but to learn something! And the only way to learn this particular material is by doing it. I have yet to see the person that has perfected the skills of throwing, catching and hitting a baseball by simply reading about the techniques, listening to expert instruction, or watching the professional perform. Financial accounting is no different. In compliance with University policy, students with disabilities who require academic and/or auxiliary accommodations for this course must contact the Student Accessibility Resource Center located in Downing Student Union, 1074. SARC can be reached by phone number at 270-745-5004 [270-745-3030 TTY] or via email at sarc.connect@wku.edu. Please do not request accommodations directly from the professor or instructor without a Faculty Notification Letter (FNL) from The Student Accessibility Resource Center. |
| WITHDRAWAL |
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| Withdrawals will be allowed according to the published University and Department of Accounting guidelines. NO exceptions will be made. Be aware of the Department's policy related to the taking of courses: An accounting major may attempt an upper division accounting course only two times, including "W's". |
| MAY 15 | Last day to withdraw (drop) with no grade
| JUN 07 | Last day to withdraw with a grade of "W"
| NOTE: There is no option to change from "Credit" to "Audit" for this course.
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| COURSE SCHEDULE (subject to change) |
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| Topical coverage, per the Kieso intermediate text (16th ed) is as follows: |
| Chapter | Title | Chapter | Title
| 1 | Financial Accounting and Accounting Standards
| 5 | Balance Sheet and Statement of Cash Flows
| 2 | Conceptual Framework for Financial Reporting
| 7 | Cash and Receivables
| 3 | The Accounting Information System
| 8 | Valuation of Inventories: A Cost-Basis Approach
| 4 | Income Statement and Related Information
| 9 | Inventories: Additional Valuation Issues
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| Probable days covering the course material are shown below. A listing of the problems and exercises to be covered in class can be found on the PROBLEMS page. Due dates for the various activities can be found on the CALENDAR page. |
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Created by Mark Ross