1BUS 311Intermediate Accounting I

Capital UniversityFall Semester 2003

Instructor: Dr. L. Meuser Mittermaier Office: 215 Troutman Hall

Office Hours: Tuesday, Thursday: 11:00-12:30, Phone: Office: 236-6130Wednesday: 2:00-4:00, Secretary: 236-6595or by appointment Fax: 236-6540

Home: 476-9146E-mail: lmitterm@capital.edu

Web Links: http://capital2.capital.edu/faculty/lmitterm/ (my home page)http://capital2.capital.edu/faculty/lmitterm/Bus311page.html/ (course web site)http://blackboard.capital.edu/ (Blackboard)http://highered.mcgraw-hill.com/sites/0072466138/student_view0/index.html(textbook web site)

Prerequisite: BUS 213 Credit Hours: 4 credit hours

Class Meets: Monday and Wednesday, 12:00-1:50 pm, 104 Learning Center

Course Materials:

Required: Intermediate Accounting, 3rd Edition, Spiceland, Sepe, & Tomassini (IrwinMcGraw Hill), 2004

The Elements of Style, Strunk and White, 4th Edition, Pearson Allyn & Bacon,2000

Optional: Study Guide and Working Papers to accompany the textbook

Suggested: The Wall Street Journal. This publication is essential reading for businessmajors, and you will have the opportunity to earn extra credit points byanalyzing articles from the paper.

Course Objectives: Accounting information is used in making numerous business decisions. InBUS 311, we focus on (1) how the accounting information is prepared according togenerally accepted accounting principles, and (2) how the information is utilized by externalusers such as shareholders and creditors.

During the course you should:1. Become familiar with accounting terms and concepts used in making business decisions.2. Understand the Conceptual Framework that serves as the theoretical basis of most

accounting standards.3. Learn the generally accepted accounting principles that govern the valuation of assets

and liabilities and the measurement of income.4. Be able to prepare the four main financial statements: balance sheet; income statement;

statement of shareholders' equity; and statement of cash flows.5. Be able to interpret financial information and assess its usefulness.6. Be able to identify and resolve ethical dilemmas involving the generation or use of

accounting information.7. Become familiar with some of the financial information available on the Internet.

28. Improve your communication skills, especially your writing skills.9. Develop your critical thinking skills. Using your knowledge base and your sense of

reason, you should be able to critically assess issues, solve a variety of problems, andgrasp "the big picture." Rather than just memorizing a series of accounting rules, youshould understand why the rules exist, how the rules might apply to situations that wehave not discussed, and what effect the rules will have on the quality of the accountinginformation provided to external users.

Specific learning objectives for each chapter are contained in the course lecture guides.

Class Routine: A tentative course outline is given on page 6. Class time will be devoted mainlyto lectures and problem-solving. You will receive a lecture guide for each chapter thatcontains learning objectives, the questions and examples that form the basis of the lectures,and a listing of the homework assignments. Many homework assignments will be discussedin class and questions on course materials are encouraged at any time.

Course Grade: Course grades will be determined using the factors shown below. Note that lateassignments will not be accepted. I may postpone the due dates and exam dates if we fallbehind in the schedule shown on page 6. Any such changes will be announced in class.

Assignment/Exam PointsType of Assignment/

Exam CoverageDue Date/Exam Date

AssignmentsClass participation 25 -- dailyLecture guide examples 50 Group or individual variousInterview of acctg. professional 35 Individual September 29Ethics paper 100 Individual variousFinancial reporting 40 Individual various Subtotal 250

Exams*Exam 1 75 Chapters 1-3 September 22Exam 2 75 Chapter 4, 5, 7 October 20Exam 3 75 Chapters 8, 9, 22 November 17Final exam 125 Comprehensive, em- December 9 Subtotal 350 phasis on ch. 10-11

Total 650

*Points for each exam are approximate, but total exam points = 350.

The grading scale is given on the following page. The assignments will not be curved, but Imay curve the exams, in which case you will simply get a fixed number of points added toyour score. The extent of any curve depends upon the overall performance of the class oneach of the exams, and thus cannot be determined in advance. However, I don't anticipatethat much curving will occur. However, you will have the opportunity to earn up to 15 extracredit points, as described in a separate handout.

Please refer to page 7 of this syllabus for grading guidelines. These guidelines summarizethe general quality of work that would result in a letter grade of A, B, etc.

3Important Note: You cannot pass this course without an average of at least 50 percent on thefour exams, regardless of how many points you accumulate in total.

Grade Percentage PointsA 93% 558A- 90% 540B+ 87% 522B 83% 498B- 80% 480C+ 77% 462C 73% 438C- 70% 420D+ 67% 402D 60% 360

I will use Blackboard to maintain your grades this semester, thereby allowing you to accessyour grades at any time. You should register for this course on Blackboard as soon aspossible, but no later than September 10 (its BUS311-01_03F; look near the bottom of thecourse catalog listing). To do so, you must have an e-mail account at Capital, although youcan set your default e-mail to some other e-mail address. If you do not have a Capital e-mailaddress, contact IT to arrange for one.

As a precautionary measure, you should retain all graded materials until you have receivedyour final course grade.

Exams: Students are expected to be in attendance at every exam. If you have an acceptable,documented excuse for missing an exam, you are responsible for informing me andobtaining my permission to miss the exam before the exam takes place. Failure to obtainmy permission in advance is equivalent to an unexcused absence and a grade of zero will beassigned on that exam. Note that you must actually speak with me; leaving me a note orleaving a voice mail message or a message with the secretary does not constitute permission.

Make-up exams will not be given. If I give a student permission to miss an exam, I willincrease the relative weights of the other exams.

Exams will emphasize material covered in class lectures and/or homework, and willprobably be a combination of multiple choice questions, short essays, and problems. I willinform you of the general format at the class meeting immediately prior to each exam. Youmay not bring a programmable calculator to any exam.

After the graded exams are reviewed in class, I will collect them and keep them in myoffice. You may review your exams at any time during the semester.

Lecture Guide Examples: For most chapters you are required to solve some of the examples fromthe lecture guides prior to class. You may be called upon to share your answers and yourwork must be turned in. The assignment for Chapter 2 is worth 10 points and assignmentsfor all remaining chapters are worth 5 points, for a grand total of 50 points.

Your answers must be done in pencil and any corrections made during class should be donein pen. You will be graded both on effort and accuracy. Any attempt to copy down answersduring our class discussion and turn them in as your original work is considered cheating.On the first offense you will receive a grade of zero on the assignment and be penalized anadditional 25 points. For a second offense you will receive an F in the course.

4You are permitted (indeed, encouraged) to work with other class members in completing thelecture guide examples. If you work with others, you should turn in one copy of youranswers and all group members will receive the same score. A maximum of three studentscan work together on any chapter, and the individuals you work with can vary from chapterto chapter. For any given chapter, however, you must do all the problems either alone orwith a group. For assignments completed by a group, each student must sign their name; noone is permitted to sign their name unless they have substantially contributed to completionof the problems.

Other Assignments: There are several required assignments besides the lecture guide examples,comprising a total of 175 points. These are individual assignments for which you arerequired to do the work completely on your own. You may neither furnish nor receive aidon these assignments, and all your questions should be directed to me. As you can see fromthe list of assignments on page 2, most of these assignments are not conducive to workingwith others.

More details regarding these assignments will be furnished during the term.

Class Participation: Class discussion and exchange of ideas is greatly encouraged in thiscourse, and you can earn up to 25 points for class participation. You will be judged on yourcontribution to the class discussion in terms of both the quality and regularity of yourcomments and questions. I will keep track of your participation for most class days, but youare also responsible for keeping track of your daily class participation and periodicallyreporting it to me.

Suggested Homework Assignments: Diligent completion of suggested homework assignments isan important factor in succeeding in this course few students can adequately grasp thematerial without completing the homework assignments. You can expect to be called on inclass to discuss the assignments. For some chapters, I have suggested at least one problemthat you should solve using an Excel worksheet that can be accessed from our textbooksweb site.

Class Attendance: Class attendance is not mandatory. However, you miss class at your own peril- you are responsible for anything covered or mentioned in class, regardless of whether youare present. Of course you cannot earn any participation points on days that you are absent.

Professionalism/Demeanor: As a developing business person, you are expected to conductyourself in a professional and courteous manner. You will lose points for inappropriatebehavior. Examples of such behavior include: excessive lateness; sleeping, talking, oreating during class; wearing a hat in class; and leaving the room during class. (Theseexamples are not all-inclusive.) I will speak with you outside of class if I see you exhibitinga pattern of inappropriate behavior.

Withdrawal/Incomplete Policies: Friday, October 24 is the last day to withdraw from this coursewith a grade of "W;" all withdrawals after October 24 will result in a grade of "F."Incompletes will be permitted only in extreme circumstances, such as extended illness orother situation beyond the control of the student, and then only if the student hassatisfactorily completed a majority of the required course work. To receive a grade of "I,"you must obtain my permission before the end of the semester.

Academic Integrity: The students, faculty, and administration at Capital University have anobligation to promote and maintain the highest standards of academic integrity.Accordingly, each student in this class is expected to become familiar the attached Policy onAcademic Integrity (pages 8 and 9). This Policy defines the various forms of academicmisconduct, presents the penalties to be imposed for infractions, and details the

5responsibility of the instructor. All students are expected to refrain from all acts ofacademic misconduct; failure to do so will result in the imposition of penalties as outlined inthe Policy on Academic Integrity.

You should refer to page 34 of the Student Handbook for a listing of the minimum penaltiesimposed for theft or willful mutilation of library materials, including any materials that Ihave placed on reserve.

Suggestions for Success in This Course: Prior to each class you should read at least the portion of the chapter we expect to cover, and

attempt the related homework problems. Do not be tempted to skim over the dollarexamples in the textbook; you must follow through each example closely, understandingeach number in the example.

Take detailed notes during class. You should take notes on everything we discuss, not justthings I write on the board or overhead. Highlighting your textbook as I talk is not takingnotes. Also, your lecture guides do not provide enough space to take adequate notes - use anotebook or loose paper instead.

Rather than copying down the answers to lengthy homework problems we review in classfor which your answers are incorrect, you may wish to print the answers available on thecourse web site.

Review the end-of-chapter discussion questions after we finish each chapter. Doing soshould help you identify your problem areas. Also, review the learning objectives to seethat you have satisfied each one.

Visit the course web site. As currently structured, it gives you access to homeworksolutions (including answers to each chapters discussion questions), copies of lectureslides, copies of all assignments, and a variety of links.

Visit the textbooks web site. It contains a wide range of study aids. You should study about 3 hours for every class hour (about 12 hours per week). You should

expect to do a lot of work in this course. Do not fall behind. This is a difficult course to catch up on. If you have any questions about course materials or are experiencing difficulties in this

course, you should see me as soon as possible.

Final Note: The information contained in this syllabus is subject to change and you areresponsible for all revisions announced in class. Topics listed on the course outline will becovered as time permits; we could run either slightly ahead or behind of this schedule andoccasional revisions to the outline should be expected.

6Intermediate Accounting ICourse Outline

Fall Semester 2003

No. Date Chpt. Topic Assignments

1 Mon. 8/25 1 Introduction/Environ. of Acctg2 Wed. 8/27 1 Theoretical Structure of Acctg

Mon. 9/1 -- Labor Day no class

3 Wed. 9/3 2 The Accounting Process4 Mon. 9/8 2 The Accounting Process

5 Wed. 9/10 3 Balance Sheet6 Mon. 9/15 3 B.S. and Financial Disclosures

7 Wed. 9/17 -- Written communication Financial reporting 1 due8 Mon. 9/22 4 Exam 1 (Chapters 1, 2, 3), IS9 Wed. 9/24 4 Inc. Stmt. and Stmt. Cash Flows

10 Mon. 9/29 5 Income Measurement Interview of prof. dueWed. 10/1 -- Faculty in-service no class

11 Mon. 10/6 5 Profitability Analysis Extra credit 1 due

12 Wed. 10/8 7 Cash and Receivables Financial reporting 2 due13 Mon. 10/13 7 Cash and Receivables

14 Wed. 10/15 8 Inventories: Measurement15 Mon. 10/20 8 Exam 2 (Chapters 4, 5, 7)16 Wed. 10/22 8 Inventories: Measurement

17 Mon. 10/27 9 Inventories: Additional Issues18 Wed. 10/29 9 Inventories: Additional Issues

19 Mon. 11/3 22 Statement of Cash Flows Extra credit 2 due20 Wed. 11/5 22 Statement of Cash Flows Financial reporting 3 due21 Mon. 11/10 22 Statement of Cash Flows

22 Wed. 11/12 10 Operational Assets: Acquisition23 Mon. 11/17 10 Exam 3 (Chapters 8, 9, 22)24 Wed. 11/19 10 Operational Assets: Disposition

25 Mon. 11/24 11 Oper. Assets: Utilization Ethics paper final draft dueWed. 11/26 Thanksgiving break no class

26 Mon. 12/1 11 Oper. Assets: Impairment Financial reporting 4 due

27 Wed. 12/3 Catch-up and review Extra credit 3 due

Tues. 12/9 Final exam (comprehensivewith emphasis on Chapters 10 &11)

3:30-5:30

7Intermediate Accounting IGrading GuidelinesFall Semester 2003

Grade Subject Matter Insight andUnderstanding

Expression

A Excellence marked by the highestlevel of independence, scholarship,research, analysis, or performance.

Excellent command ofinter-relationships withinthe subject and thehighest level oforiginality and/orcreativity in approachingproblems.

Excellent proficiencyin oral, written, orother expression.

B Good knowledge of subject matterand a good manifestation of theability to work independently;demonstrates good scholarship,research, analysis, or performance.

A good understanding ofthe fundamentals andtheir inter-relationships;originality and insight inapproaching problems.

Good level ofproficiency in oral,written, or otherexpression.

C Satisfactory knowledge of coursecontent; satisfactory completion ofcourse requirements; demonstratessomewhat uneven scholarship,research, analysis, or performance.

Basic understanding offundamental principlesand an ability to applythem.

Proficient in oral,written, or otherexpression.

D Minimal knowledge of coursecontent; significant amount ofcourse requirement not met;demonstrates low level ofscholarship, research, analysis, orperformance.

Lacks understanding offundamental principlesor ability to apply them.

Deficiency in oral,written, or otherexpression.

F Failure to meet courserequirements; demonstrates littlescholarship, research, analysis, orperformance.

Failure to demonstrateunderstanding ofprinciples and/or abilityto apply them.

Failure in oral,written, or otherexpression.

Adapted from University Academic Affairs Committee Guidelines, 1999.

8Intermediate Accounting IPolicy on Academic Integrity

Fall Semester 2003

The students, faculty, and administration at Capital University have an obligation to promote andmaintain the highest standards of academic integrity. Accordingly, each student in this classshould become familiar with this Policy on Academic Integrity. This Policy defines various formsof academic misconduct, presents the penalties to be imposed for infractions, and details theresponsibility of the instructor. Each student in this course is expected to refrain from all acts ofacademic misconduct. See me immediately if you do not understand any of the provisions in thePolicy on Academic Integrity.

EXAMPLES OF ACADEMIC MISCONDUCT: (these are not all-inclusive)

Cheating Copying assignments from another student. Working together on homework, projects, or take-home exams when not specifically

permitted by the instructor. Looking at and receiving information from another student's paper during an exam. Allowing another student to take information from your paper during an exam. Using notes or some other unauthorized aid during an exam. Submitting an assignment that has been or is being used to satisfy requirements of another

course without the express permission of both instructors. Sharing information about an exam given in multiple sections of a course.

Plagiarism Copying someone else's work (words, figures, data, etc.) verbatim without proper attribution

(quotations marks and mention of the author's name). Copying many words and phrases from someone else without proper attribution. Copying certain key words and phrases from someone else without proper attribution. Rewriting (paraphrasing) someone else's work without proper attribution. Using someone else's argument or idea, which is not common knowledge, without proper

attribution. Turning in a paper, project, or computer project as one's own that was completed in whole

or in part by someone else.

Attribution can be done using footnotes, endnotes, or parenthetical references. Direct quotations,even only a few words in length, should be enclosed in quotations. If in doubt, it's generally bestto provide attribution. Check with your instructor if you're not sure how to handle any situation.

Fabrication Supplying fabricated, invented, or altered information in any academic exercise. Fabricating all or a portion of a bibliographic entry for a documented project.

Facilitating Dishonesty Allowing one's own work to be submitted as another student's work for any course

assignment. Assisting a fellow student to commit an act of academic dishonesty. Attempting to obtain unauthorized help on a project or exam by offering compensation to

another individual.

Abetting Dishonesty Observing cheating on an exam, homework, or project without reporting it to the instructor. Passing answers for an exam from one student to another. Being aware of plagiarism without reporting it to the instructor.

9PENALTIES FOR ACADEMIC MISCONDUCT:

Offense Minimum PenaltyCheating on homework or projects See below*Cheating on an exam Failure in the coursePlagiarism See below*Fabrication See below*Facilitating dishonesty Failure in the courseAbetting dishonesty See below*

*Zero on assignment/exam, plus a penalty equal to the number of points on the assignment/exam.

The maximum penalty that I can impose for any infraction is failure in the course, but theAcademic Standing Committee or the Campus Hearing Board may impose further penalties, andthe student's financial aid may be curtailed or eliminated. (See pages 18-19 and 51-59 of theStudent Handbook for discussions relevant to issues of academic integrity.) For instances ofmisconduct in which the student does not fail the course, I may impose penalties in addition tothose listed above, such as requiring that additional projects or papers be completed.

RESPONSIBILITIES OF THE INSTRUCTOR:1. If I suspect that a student is guilty of an act of academic misconduct, I will meet with the

student on a timely basis to discuss the situation. I will notify the student of the decisionregarding guilt or innocence (and the penalty to be imposed, if applicable) within one week ofthe meeting.

2. I will take care to protect a student's confidentiality. If I impose a penalty for academicmisconduct, I will notify the student's academic advisor and the Dean of the School ofManagement, but will not discuss the infraction with other faculty members unless the studenthas been involved in acts of dishonesty in other courses. (If I am aware of multiple acts ofcheating, I will recommend to the appropriate committee that you be either suspended orexpelled from the university.)

3. I will take care to protect the confidentiality of any student who reports an act of academicmisconduct to me. Although I expect that divulging the student's name would rarely benecessary, I will not divulge the name of the student without first obtaining his or her expresspermission.

4. I will make every effort to apply consistent treatment to all students accused of academicmisconduct. However, because academic dishonesty can take many different forms, treatmentof all students may not be identical.

5. Any student who believes that he or she has been unfairly penalized for academic misconductshould follow the procedures outlined for resolution of a student academic grievance (pages16-17 of the Student Handbook).

Sources include Student Handbooks from: Gustavus Adolphus College, 1994-95 Midland Lutheran College, 1993-94 Susquehanna University, 1994 Wartburg University, 1993-94

BUS 311 INTERMEDIATE ACCOUNTINGData FormFall 2003

Name: Box:(last) (first) (nickname)

Hometown: __________________________________ High School: _______________________________

Campus Phone: _______________________________ Work Phone: _______________________________

Campus E-mail: ______________________________ Work E-mail: ______________________________

Dorm and room number (if on campus): ___________________________________________________________

Local mailing address (if not on campus): __________________________________________________________

Place of Employment: __________________________ Job Title: __________________________________

Duties and Hours Worked: ______________________________________________________________________

Major: ______________________________________ Expected Graduation Date: ___________________

Future Career Interest(s): _______________________________________________________________________

____________________________________________________________________________________________

Do you play on a varsity sports team? ______________ If yes, which ones? _____________________________

Are you involved in other campus activities? ____________ If yes, which ones? _________________________

____________________________________________________________________________________________

Hobbies/other sports/other interests: _______________________________________________________________

____________________________________________________________________________________________

____________________________________________________________________________________________

Please rate your current level of competence in each of the following areas:

Excellent Good Average Fair PoorWord processingSpreadsheets (e.g., Excel)Oral communicationWritten communicationTeamworkLeadershipBasic accounting skillsGeneral business knowledge