ACTG 318 - External Reporting I

ACTG 318: External Reporting I

Winter 2009 Course Syllabus

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Course Credits: Four; ACTG 318 meets four hours per week in two one hour and 50 minute blocks on Mondays and Wednesdays. Section 1 meets from 8:00 – 9:50, Section 2 meets from 10:00 – 11:50 and Section 3 meets from 12:00 – 1:50 in the Moss Adams Classroom.

Prerequisites: ACTG 317 and BA 340 with “C” or better, acceptance into the Accounting Program and instructor approval.

Professor: Roger Graham Office: 204 Bexell Hall

E-mail: roger.graham@bus.oregonstate.edu Phone: 737-4028

Office Hours: 3:30 – 4:30 Mondays and Wednesdays, 9:30 – 10:30 Tuesdays

Learning Resources:

Required: Intermediate Accounting (12th edition) by Kieso, Weygandt and Warfield, Wiley 2008.

Effective Writing: A Handbook for Accountants, (8^th edition) by May and May, Pearson Prentice Hall.

Proctor and Gamble 2008 10-K

Course Description: This course covers transactions affecting the accounting equation in a three module continuation of ACTG 317. The first module covers the accounting for current assets (chapters 7, 8 and 9) and the second module covers the accounting for noncurrent assets (chapters 10, 11 and 12). The remaining module covers current and noncurrent liabilities and shareholders’ equity (chapters 13, 14 and 15).

Measurable Student Learning Outcomes: The primary learning outcomes of ACTG 318 are to acquire sufficient knowledge and comprehension of the above accounting issues that will allow you to apply generally accepted accounting principles to solve accounting problems related to the issues, to analyze accounting issues from different economic and social perspectives, to formulate solutions to complex accounting issues and to appraise proposals for changes in generally accepted accounting procedures based on the underlying economics of accounting events.

Evaluation of Student Performance: Course requirements include exams and homework assignments. The weighting on the course requirements follows.

Points Percent

Midterm Exams @ 75 each 150 50

Final Exam 100 33

General Homework Assignments 20 7

Written Assignment(s) 30 10

Total 300

Grading: Your course grade will be determined by your performance based on total points earned with the assurance that the curve will be no higher than shown below. The curve may be lowered depending on the distribution of the total points for the class.

A 255-300 B 225-254 C 190-224

At least a C must be earned to enroll in accounting courses listing ACTG 318 as a prerequisite.

The Exams: The exams are designed to measure your knowledge and understanding of the material presented in the textbook, homework assignments, class lectures and discussions. Exams will be a combination of multiple choice questions and work-out problems.

In the event you miss an exam, you will receive a score of 0, exactly as if you had turned in a blank paper. Exceptions will be made only upon presentation of documented evidence indicating serious illness or family emergency. Contacting me prior to the exam is also expected in such cases, if practicable. A make-up exam may be scheduled; alternatively, the weight of the remaining exams may be adjusted. The choice rests with the instructor. Exceptions will be extraordinarily rare and will be handled on an individual basis. You are strongly urged to make every effort to take the exams as scheduled. The accounting faculty has a policy not to allow early exams.

There are no example exams. All material presented in class is subject to examination. Therefore there is no need to ask if material will or will not be on an exam. No note cards or any other supporting materials will be allowed during exams.

General Homework: General homework assignments include those listed in the syllabus whether worked in class or assigned in class for the following class meeting. Homework assigned for the following class meeting is to be ready for collection at the beginning of class on the day that they are due. Although most assignments will only be graded for effort and completeness some assignments will be graded for correctness.

For the best learning, all problems should be attempted prior to the class period they are discussed. This requires discipline on your part but the practice of attacking problems “cold” will pay off on exam days.

Homework solutions are copyright protected. Therefore, there can be no copies of the homework solutions available to students outside of class.

Written Assignments: These will be provided later in the term.

Class Policies: ACTG 318 class policies are intended to promote and maintain a professional atmosphere and an appropriate learning environment. The Accounting Program at Oregon State University is a highly-regarded professional program providing education and training for careers in accounting. A proper classroom climate will assist in developing habits that contribute to career success. Furthermore, students learn more when there is an appropriate learning atmosphere.

To begin, all students are expected to conduct themselves in a courteous and professional manner at all times and prepare all assignments in a professional manner.

Please do not come into class late, read during class, sleep during class, or talk excessively with other students during lectures. Such behaviors are disruptive to the learning environment.

Please turnoff/mute all items that emit sounds and noises that may interrupt the class (e.g., cellular phones, pagers), unless there is a specific reason for needing notification during a particular class (such as a sick child at home) and approval has been received prior to the beginning of that class.

All graded assignments must be ready to be handed in at the beginning of class on the day they are due. Late assignments will not be accepted and receive a zero score unless there are extraordinary extenuating circumstances. Assignments will be assigned one-half credit in the rare case that late assignments are accepted. Assignments will be returned as soon as they are graded. Any assignments not picked up in class can be picked up in Bexell 204. Exams will be available for review but will not be returned.

I welcome grading-related questions after homework or exams have been graded and returned. However specific grading questions are limited to the two week period beginning the day after the day the graded items are returned in class. This means I may not answer grading related questions on the day graded materials are returned or two weeks after the day graded materials are returned.

Class Sections, unless you have received prior permission you will be expected to attend the section in which you are enrolled.

All University regulations regarding academic honesty apply to College of Business courses, e.g., any work copied from another student, plagiarized in any manner, or provided to another student will at a minimum result in a grade of zero on the assignment and at a maximum result in a failing grade in the class. If you are unsure what constitutes plagiarism, please see me. All cases of suspected academic dishonesty are handled in strict accordance with University policy, which can be viewed at the following University web address: http://oregonstate.edu/admin/stucon/achon.htm.

Be judicious in your use of e-mail. First try to contact me directly, either in class or during office hours. Questions that can be easily answered from other sources (i.e., the course coverage, syllabus, or assignments) are not judicious uses of e-mail. Be professional when writing e-mail – present your point or request without making demands or accusations – be respectful and use professional salutations. Check your spelling and grammar as best you can. Be aware that I may not reply to e-mail I consider frivolous or unprofessional.

Dos and Don’ts

	Do	*Don’t*
1.	Be professional	Read during class
2.	Be courteous	Sleep during class
3.	Arrive on time	Talk excessively
4.	Allocate time to this course	Let your phone ring in class
5.	Work assigned problems prior to class	Cheat
6.	Write professional correspondence	Send unprofessional e-mails
7.	Attend the class you are assigned	Attend the other section

Course Organization: ACTG 318 will be conducted primarily by lecture with considerable time spent reviewing assignments. Our pace will be approximately one and one-half chapters per week. You are expected to read and study the chapter and to work the homework before each class meeting. It is to your advantage to attend class and participate in the discussion especially as attending class provides the opportunity to judge your progress in learning the material and prepares you for the exams.

Students with disabilities: "Accommodations are collaborative efforts between students, faculty and Services for Students with Disabilities (SSD). Students with accommodations approved through SSD are responsible for contacting the faculty member in charge of the course prior to or during the first week of the term to discuss accommodations. Students who believe they are eligible for accommodations but who have not yet obtained approval through SSD should contact SSD immediately at 737-4098."

Final Thoughts on the Course: ACTG 318 can be a difficult course with its diverse and complicated material. With patience and effort (and some luck) we will all make it to the end of the term a bit more knowledgeable and possibly a bit intrigued.

A little about me: I grew up in Colorado but consider myself from Missoula, Montana. I owned a construction company there for over 12 years. I am married to Kristina Frankenberger who is Professor of Marketing at Western Oregon University. She is an avid fisher. I have two sons; Chris 32, married to Sarah and Brian 29, married to Tina. We have a collie named Scout and an Australian shepherd named Trigger. We have lived in Oregon since the Fall of 1986. We enjoy the open spaces of Montana, Oregon and Colorado.

I enjoy teaching financial accounting very much and I enjoy talking informally with students. I have been teaching at Oregon State University since January 1991 but have also taught at Northern Montana College, the University of Oregon, the University of Manitoba and the University Auckland. My undergraduate degree is in animal psychology from Colorado State University, my masters degree is in accounting and finance from the University of Montana and my Ph.D. is in accounting from the University of Oregon. I am a CPA in the State of Montana and a member of the Oregon Society of Certified Public Accountants (currently on the Board of the Educational Foundation).

I enjoy research. Over the last ten years I have published over 20 research papers (most recently a study of the relevance of lease disclosures). I try to understand the relation between accounting information and market values (known as capital markets research) in the areas of corporate equity investments and international accounting. Fun stuff!

TENTATIVE SCHEDULE

1	Jan. 5	Introduction, Syllabus, Proctor and Gamble 10-k, Assessment Exam Topics: The Accounting Framework, Cash
1	Jan. 7	Read Chapter 7 Topics: Receivables
2	Jan. 12	Topics: Receivables Continued, Valuation of Inventories: A Cost-Basis Approach
2	Jan. 14	Read Chapter 8 Topics: Valuation of Inventories Continued Careers in Tax: 6:00 pm CH2M Hill Alumni Center – Mandatory attendance
3	Jan. 19	No class Martin Luther King Day
3	Jan. 21	Read Chapter 9 Topics: Lower of Cost or Market, LIFO Retail
4	Jan. 26	Topics: Lower of Cost or Market, LIFO Retail Continued
4	Jan. 28	Part I Midterm Exam Chapters 7, 8, 9
5	Feb. 2	Read Chapter 10 Topic: Acquisition and Valuation of Property Plant and Equipment
5	Feb. 4	Topics: Dispositions of Plan Assets, Depreciation
6	Feb. 9	Read Chapter 11 Topics: Income Tax Depreciation, Impairments, Depletion
6	Feb. 11	Read Chapter 12 Topics: Intangible Assets
7	Feb. 16	Topics: Intangible Assets Continued
7	Feb. 18	Part II Midterm Exam Chapters 10, 11, 12
8	Feb. 23	Topic: Current Liabilities
8	Feb. 25	Read Chapter 13 Topics: Contingencies, Bonds Payable and the Effective Interest Method
9	March 2	Read Chapter 14 Topics: Bonds Payable Continued, Notes Payable, Accounting for Troubled Debt
9	March 4	Topics: Common and Preferred Stock Stock Issues, Treasury Stock
10	March 9	Read Chapter 15: Topics: Shareholders’ Equity Continued
10	March 11	Evaluations and Course Review
Final Exam – comprehensive: multiple choice, work out problems and short essay.

*Chapter*	*Assignments*
7	Financial Reporting Problem pg 363 Q’s 3, 4, 5 Ex’s 4,5,6,7,12 P’s 3,10,11,13
8	Q’s 8,9 Ex’s 1,6,9,12,21 P’s 1,3,6,8
9	Financial Reporting Problem pg 468 Q’s 1,2, 3, 4,18 Ex’s 2,5,8,9 P’s 1,2,4,6
10	Ex’s 3,5,7,16 P’s 9,10
11	Financial Reporting Problem pg 566 Ex’s 4,8,11,13,15,16,16,21,25 P 1
12	Financial Reporting Problem pg 613 Q’s 1, 3, 4 Ex’s 2,3,11,6 P’s 3,5,6
13	Financial Reporting Problem pg 665 Q’s 1,2,4,14,18 Ex’s 5,13,14,16 P’s 1,3,7,8,14
14	Financial Reporting Problem pg 721 Q’s 3,4,5 B.Ex 5 Ex’s 9,11,17 P’s 2,8,14
15	Financial Reporting Problem pg 773 Q’s 1,2, 3, 4,5,6 11,12,18,20,21 Ex’s ,5,11,14,15 P’s 1,2

Introduction, Syllabus, Proctor and Gamble 10-k, Assessment Exam

Topics: The Accounting Framework, Cash

Read Chapter 14

Topics: Bonds Payable Continued, Notes Payable, Accounting for Troubled Debt