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Version Syllabus ACC/421 7 Syllabus School of Business ACC/421 Version 7 Intermediate Financial Accounting I Copyright 2012, 2011, 2010, 2008, 2007, 2006, 2004, 2003, 2001 by University of Phoenix. All rights reserved. Course Description This course examines the conceptual framework of accounting, including cash versus accrual accounting, the income statement and balance sheet, the time value of money, revenue recognition, statement of cash flows, and full disclosure issues. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Hunt, M. F., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2010). Intermediate accounting problem-solving survival guide (13th ed., Vol. 1). Hoboken, NJ: Wiley. Hunt, M. F., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2010). Intermediate accounting problem-solving survival guide (13th ed., Vol. 2). Hoboken, NJ: Wiley. Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2010). Intermediate accounting (13th ed.). Hoboken, NJ: Wiley. Kieso, D. W., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2010). Intermediate accounting study guide (13th ed., Vol. 1). Hoboken, NJ: Wiley. Kieso, D. W., Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2010). Intermediate accounting study guide (13th ed., Vol. 2). Hoboken, NJ: Wiley. All electronic materials are available on the student website. Week One: The Accounting Environment Details Objectives 1.1 Explain the overall accounting cycle. 1.2 Apply accounting concepts to business situations. 1.3 Identify the roles and hierarchy of the various accounting governing bodies. Reading Read the Week One Student Guide. Due Points 1 Syllabus ACC/421 Version 7 Reading Read Ch. 1 of Intermediate Accounting. Reading Read Ch. 2 of Intermediate Accounting. Reading Read Ch. 3 of Intermediate Accounting. Reading Review this weeks Electronic Reserve Readings. Participation & Discussion Questions Participate in class discussion. Respond to weekly discussion questions Learning Team Instructions Learning Team Charter You will be assigned during Week 1 to your Learning Team. Create the Learning Team Charter. Individual Accounting Cycle Paper Prepare a 700- to 1,050-word paper explaining the overall accounting cycle at your organization. Include a description of the people, processes, and systems that are integral to the cycle. Mon 4 Individual WileyPLUS Assignment Week One Resource: WileyPLUS Access WileyPLUS using the link on the student website. Complete the following in WileyPLUS: Mon 5 2.5 Question Q70 Exercise E2-2 Exercise E2-4 Exercise E2-7 Exercise E3-5 Week Two: Income Statement and Revenue Recognition Details Objectives 2.1 Prepare single- and multiple-step income statements. 2.2 Apply the guidelines for revenue recognition to various business situations. Reading Read the Week Two Student Guide. Reading Read Ch. 4 of Intermediate Accounting. Reading Read Ch. 18 of Intermediate Accounting. Reading Review this weeks Electronic Reserve Readings. Due Points 2 Syllabus ACC/421 Version 7 Participation & Discussion Questions Participate in class discussion. Respond to weekly discussion questions Learning Team Instructions Learning Team Log Prepare the Learning Team Log. Individual WileyPLUS Assignment Week Two Resource: WileyPLUS Access WileyPLUS using the link on the student website. Complete the following in WileyPLUS: Mon 5 Sun 5 Sun 2 Due Points Exercise E4-6(a,b) Exercise E4-6(c) Exercise E4-16 Exercise E18-4 Exercise E18-5 Learning Team Textbook Assignments Write responses to following problems in Ch.3 of Intermediate Accounting: Learning Team Weekly Reflection Discuss single- and multiple-step income statements, and guidelines for revenue recognition with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field. 2.5 P3-5 P3-9 Prepare a 350- to 1,050-word paper detailing the findings of your discussion. Week Three: Balance Sheet and Full Disclosure Details Objectives 3.1 Prepare a balance sheet. 3.2 Explain the need for full disclosure in financial reporting. 3.3 Identify items included in the notes to financial statements. 3.4 Perform basic financial analysis using ratios. Reading Read the Week Three Student Guide. Reading Read Ch. 5 of Intermediate Accounting. 3 Syllabus ACC/421 Version 7 Reading Read Ch. 24 of Intermediate Accounting. Reading Review this weeks Electronic Reserve Readings. Participation & Discussion Questions Participate in class discussion. Respond to weekly discussion questions Individual WileyPLUS Assignment Week Three Resource: WileyPLUS 2.5 Mon 5 Sun 5 Sun 2 Due Points Access using WileyPLUS the link on the student website. Complete the following in WileyPLUS: Exercise E5-5 Exercise E5-12 Exercise E5-15 Exercise E24-2 Exercise E24-4 Learning Team Textbook Assignments Write responses to the following problems in Intermediate Accounting: Learning Team Weekly Reflection Discuss balance sheets, full disclosure, notes to financial statements, and basic financial analysis using ratios with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field. Problems P4-3 in Ch. 4 Problems P18-7 & E18-15 in Ch. 18 Prepare a 350- to 1,050-word paper detailing the findings of your discussion. Week Four: Statement of Cash Flows Details Objectives 4.1 Prepare a statement of cash flows using the direct and indirect methods. 4.2 Explain the importance of the statement of cash flows. Reading Read the Week Four Student Guide. Reading Read Ch. 23 of Intermediate Accounting. Reading Review this weeks Electronic Reserve Readings. Participation Participate in class discussion. Respond to weekly 2.5 4 Syllabus ACC/421 Version 7 & Discussion Questions discussion questions Learning Team Instructions Learning Team Log Complete the Learning Team Log. Individual WileyPLUS Assignment Week Four Resource: WileyPLUS Access WileyPLUS using the link on the student website. Complete the following in WileyPLUS: Individual Full Disclosure Paper Mon 8 Sun 5 Sun 2 Due Points Answer Question 2 in Ch. 24 of Intermediate Accounting. Explain the need for full disclosure in financial reporting. Identify possible consequences of failing to properly disclose certain items in financial statements. Learning Team Textbook Assignments Write responses to following in Intermediate Accounting: Learning Team Weekly Reflection Discuss statements of cash flows with your team. Your discussion should include the importance of statements of cash flows and preparing statements using the direct and indirect methods. What areas do you feel comfortable with? What areas have you struggled with? How is a statement of cash flows used in accounting? 5 Exercise E23-1 Exercise E23-4 Exercise E23-7 Exercise E23-11 Exercise E23-12 Write a 700-word paper addressing the following: Mon Problem P5-3 in Ch. 5 and "Concepts for Analysis" CA24-2 in Ch. 24 of Intermediate Accounting. Prepare a 350- to 1,050-word paper detailing the findings of your discussion. Week Five: Time Value of Money Details Objectives 5.1 Calculate present and future values. 5 Syllabus ACC/421 Version 7 Reading Read the Week Five Student Guide. Reading Read Ch. 6 of Intermediate Accounting. Reading Review this weeks Electronic Reserve Readings. Participation & Discussion Questions In order to allow you more time to complete your final exam, final learning team and individual assignments, there will be no participation or discussion question points this week, please remember to meet the attendance requirements. Learning Team Instructions Learning Team Log Complete the Learning Team Log. Individual WileyPLUS Assignment Week Five Resource: WileyPLUS Access WileyPLUS using the link on the student website. Complete the following in WileyPLUS: Individual Statement of Cash Flows Paper Individual Final Examination 10 Mon 4 Mon 15 Exercise E6-2 Exercise E6-5 Exercise E6-6 Exercise E6-8 Exercise E6-10 Write a 700-word paper in which you address the following: Mon Answer Question 1 in Ch. 23 of Intermediate Accounting. Explain why statements of cash flows are important when assessing the financial strength of an organization. Click the Final Examination link on the student website, which is available from the end of Week Four through the end of Week Five. Complete the Final Examination. You are allowed one attempt to complete the examination, which is timed and must be completed in 3 hours. Results are auto-graded and sent to your facilitator. Learning Team Textbook Assignments Write responses to the following problems in Intermediate Accounting: P6-7 in Ch. 6 P23-7 in Ch. 23 Sun 6 Learning Team Discuss the importance of understanding time values of money with your team. Your discussion should include the Sun 2 6 Syllabus ACC/421 Version 7 Weekly Reflection areas you feel comfortable with, any areas you struggled with, and how present and future values of money are applied in accounting. Prepare a 350- to 1,050-word paper detailing the findings of your discussion. Copyright University of Phoenix is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft, Windows, and Windows NT are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Final exams contain third-party copyrighted materials. Portions are: Copyright 2010 University of Phoenix. All rights reserved. Copyright 2010 John Wiley & Sons, Inc. All rights reserved. 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