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NOTE:
ACTG 429 is not being offered during Summer 2008.
The course materials below are for reference purposes only.
Version 1
March 31 2008
ACTG 429
Topics in Accounting
Spring 2008
Course
Name: Topics in
Accounting
Course Number: ACTG 429
Course Credits: Four
Course Schedule: Meets once per week on Monday from 6:00 pm – 9:50 pm
Course Location Bexell Room 207
Prerequisites: Department approval
Instructor:
Larry L. Brown,
CPA
Office:
Bexell
429
Phone: 541 737 3226 (Do not leave messages)
503 799 2686 (Cell phone - leave messages)
E-mail larry.brown@bus.oregonstate.edu
Office Hours: Monday 10:15 am-- 11:45 am
Tuesdays 8:30 am- 9:30 am (recommend appointment)
Wednesday 10:15 am-11:45 pm
Or by appointment (I will be on campus virtually all day on Mondays)
Learning Resources: There are no textbooks for this class. Reading materials are assigned for each presentation as set forth in the class schedule attached to this syllabus. There will also be reading materials required for preparation of the written memorandum assignments and make-up assignments, if applicable, as further discussed below.
Changes to Syllabus
and Tentative
Schedule: The instructor reserves the right to make changes to this syllabus and course schedule as necessary. Any changes to the course content or syllabus will be announced during a regular class period.
Course Description: This course covers concepts related to various current accounting, tax, auditing and related topics that are currently impacting the accounting profession. Emphasis is placed on understanding the current topics that are presented and also to gain an understanding and appreciation for the way changes have taken place and will continue to take place in accounting, income tax and auditing standards and practices. Emphasis is also placed on the ability to review accounting, auditing and related issues and expressing your views in writing. This course also emphasizes classroom attendance and active participation. You should make sure that your schedule allows you to attend this course regularly. You should also make every effort to participate in classroom discussion and activities.
Use 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. Also all email communication that I initiate will occur through your ONID email address.
Measurable Student
Learning
Outcomes: The primary learning outcomes of BA 429 are to acquire sufficient knowledge and comprehension of current accounting, auditing and related topics that are currently impacting the accounting profession and an understanding and appreciation for the way changes have taken place and will continue to take place in accounting and auditing standards that will allow you to apply the knowledge you gain to properly prepare comprehensive memo’s with respect to issues as they arise, to analyze changing accounting and auditing standards, to formulate solutions to complex proposed and/or new accounting and auditing standards, to assess various accounting and auditing issues that are impacted based on the underlying facts and circumstances and to communicate your understanding of the related accounting and/or auditing issues to clients and colleagues.
Classroom
Environment: BA 429 will be conducted primarily by lecture and classroom discussion. There will also be time devoted to discussing the lecture material in small groups as well as possible presentation of materials by students. Please do not come into class late, read during class, or talk excessively with other students during lectures. TURN THE CELL PHONES OFF. Such behaviors are disruptive to the learning environment and disrespectful. Respect for your fellow students and instructors are of utmost importance. This is a cooperative learning environment and I want you to feel comfortable asking questions. Please also see the grading matrix below for more discussion on classroom attendance and participation.
Grade
Distribution:
Your course grade will be determined by your performance based on the total points earned. The grade distribution will be as follows (there will be no curve):
|
A |
90-100 |
|
B |
80-89 |
|
C |
70-79 |
|
D |
60-69 |
|
F |
Below 60 |
I will be pleased to discuss any grading related questions. However you must contact me if you have a question regarding graded items within the two week period beginning the day subsequent to the day the graded items are returned in class. You are responsible for tracking the points you earn on attendance, participation and written assignments and comparing them to the posted scores.
Evaluation of
Student
Performance: BA 429 requirements include classroom attendance, classroom participation as well as small group discussions and presentations, written memorandums and a final exam. The weighting on the course requirements is as follows:
|
Grading Matrix |
Points possible |
|
Classroom attendance (3 points available for each class session; no points awarded for class sessions missed or for which you arrive late or leave early; see discussion below) |
27 |
|
Classroom participation, including in-class quizzes (4 points available for each class session; no points awarded for class sessions missed or for which you arrive late or leave early; see discussion below) –points will be awarded at the sole discretion of the instructor |
36 |
|
Written memorandum No. 1 |
9 |
|
Written memorandum No. 2 |
9 |
|
Written memorandum No. 3 |
9 |
|
Final examination |
10 |
|
Total Possible Points |
100 |
Approximately 63% of your grade is based on attendance and participation. Since this class is primarily based on lectures, classroom attendance and participation is extremely important. Therefore no attendance and participation points will be awarded for any class session for which you do not attend, for which you arrive late or for which you leave early. NO EXCEPTIONS!!! However I realize there may be unavoidable circumstances that may cause you to not be able to attend a class session (or to arrive on time or require you to leave early). Generally such unavoidable situations are as follows:
1. You have a medical emergency or illness/injury that prevents you from attending a class session. You must provide medical documentation.
2. You have experienced a death in your immediate family that you will be able to document.
3. You are participating in an official Oregon State University event. You must make me aware of such commitment in advance of the class session.
4. You experience some other unknown extreme circumstance that may require you to miss a class session.
If you miss a class session (or arrive late or leave early) as a result of one of the above situations you must discus with me immediately (in advance if at all possible). If, in my sole discretion, I believe that it is due to one of the unavoidable situations above I will excuse the absence (or late arrival or early departure). In such situations no points will be awarded for class attendance and participation, however I will allow you to do a make-up assignment for an excused absence. You will be awarded up to 7 points for the make-up assignment which will require a written memorandum and possibly a presentation to the class. There will be no possibility to do a make-up assignment or earn the related points for any unexcused absence.
Class Participation: Class participation includes attentive and active participation during the lectures, as appropriate, including participation in discussions and asking appropriate questions. Class participation also includes group discussions as well as the possibility of in-class quizzes.
Written
Memorandums: Written memorandum assignments are as set forth above in the ‘Evaluation of Student Performance’ and are due as set forth in the ‘Class Schedule’ below. The topics selected are to supplement the concepts covered in lecture and reading and to enhance the student learning outcomes.
The topics for the written memorandums are: 1) corporate sustainability reporting; 2) assessing accounting and/or financial reporting changes that a privately held company may need to make to do an IPO or comply with IFRS; and 3) your choice of writing on one of the following: a) assessing and responding to risks in a financial statement audit, b) accounting for income taxes or c) fair value accounting. Further guidance on the topics for the written memorandums will be provided.
Your ability to effectively and concisely communicate your knowledge is essential to a successful career. The purpose of the written memorandum assignments is to teach you how to research and communicate your findings in a professional manner, to analyze a situation and to provide advice. All assignments are due as set forth in the ‘Class Schedule’. No late assignments will be accepted except for situations similar to excused absences. All assignments must be in professional format which means neatly hand-written or typed, proof read, clear, and accurate. Be aware that if I can not read your written memorandum, it will not be graded and you will receive a score of 0. You may not resubmit the assignment homework if it is rejected as unreadable. You may wish to keep copies of your assignments as they may not be returned to you.
For written memorandums you may work in a group (2-3) if you wish to research and/or discuss the topic. However you must each submit individual written memorandums You should not submit identical papers. Please include the names of others that you collaborated with on the top of the first page. I strongly encourage you to develop your own thoughts so you learn about the topic and form your own views, and so you do not become subject to the academic dishonesty rules discussed below.
Working in
Groups: For in-class group assignments you should collaborate as a team with all group members contributing substantially equally and as set forth in the instructions, if any, to the assignment. If any team member believes that one of their team members is not contributing equally they should discuss this with the other team members and try to reach resolution. After you have had these discussions, please feel free to discuss with me if you believe that the team member is still not contributing equally. A team member that is determined to not be contributing substantially equally may be awarded lesser participation points or not be awarded any participation points..
Final Examination: There will be a final examination which will cover information included in the presentations, readings (if any) as well handouts provided during class. The final examination will be given according to the university final schedule. See the assignment schedule for final examination date. There will be no make-up final examination. It must be taken at the scheduled time during finals week).
Academic
Dishonesty: Academic Dishonesty is not tolerated. All University regulations regarding academic honesty apply to College of Business Courses. If you cheat in any way on a test or assignment, you will receive a zero on that item. Cheating includes copying test material, using unacceptable items during a test, copying or substantially using another students (regardless of when, where, why or how) writing or return, plagiarizing or using the ‘solutions’ to problems, assignments or the tax return provided to other students in previous classes. Academic dishonesty rules apply both to the originator and the copier. You should guard your work carefully. I do not tolerate dishonesty and any suspected dishonesty will be reported to the University and processed according to their published academic dishonesty procedures. See Statement of Expectations for Student Conduct at http://oregonstate.edu/admin/stucon/achon/htm.
Statement
Regarding 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 (541) 737-4098.
Class Schedule
The following is the class schedule of dates, subjects and presenters of the related subject matter. This schedule may be revised due to conflicts, changes in topics or other unforeseen circumstances without advance notice.
PRESENTING PRELIMINARY ADVANCE
DATE SUBJECT FIRM READING ASSIGNMENTS
3/31/08 Internal v. External Audit TKW No advance reading required
Coordination/Issues
Corporate Sustainability Reporting Brown Journal of Accountancy December 2006
The Future of Corporate Sustainability Reporting-Brian Ballou, Dan L. Heitger and Charles E. Landes (b)
04/07/08 Ethics & Integrity KPMG No advance reading required
04/14/08 Global Standards Convergence: Moss Adams Journal of Accountancy February 2008
the Politics and Practicalities of Change Agent-Interview with Bob Herz (b)
Common Standards for Financial
Reporting and Auditing.
IFRS v GAAP (US) and GAAP Brown 10 Minutes on IFRS-PricewaterhouseCoopers (c)
differences in US (Perhaps KPMG
Webcast)
Summary of IFRS v GAAP (US) differences- PricewaterhouseCoopers (e)
04/16/08 Written memorandum No. 1 due (a)
04/21/08 Accounting for Income Taxes Ernst & Young Financial Reporting Developments-
& FIN 48 Accounting for Income Taxes-
Ernst & Young-June 2007 (d)
04/28/08 Risk Based Auditing Moss Adams Journal of Accountancy January 2008
Standards Risk Assessment Standards in Action-
Paul Kiel (b)
Journal of Accountancy December 2007 What Is Your Fraud IQ?-Joseph T. Wells (b)
05/05/08 Fair Value Accounting Ernst & Young Summary of FASB Statement No. 159
The Fair Value Option for Financial Assets
And Financial Liabilities, Ernst & Young,
March 2007 (d)
Journal of Accountancy December 2007
The Finer Points of Fair Value-
Thomas A. Radcliff (b)
Journal of Accountancy November 2007
Refining fair Value Measurement
Paul B.W. Miller and Paul R. Bahnson (b)
05/07/08 Research memorandum No. 2 due (a)
05/12/08 Business Combinations Grant Thorton 10 Minutes on Mergers and Acquisitions- PricewaterhouseCoopers (c)
05/19/08 Stock Based Compensation Deloitte Accounting for Stock Options: The Debate
Continues; Deloitte, August 2005 (d)
1-2-3 (R) eady, Set, Go, Fair Value Accounting for Stock Options; Deloitte, December, 2004 (d)
0526/08 No class-Memorial Day Holiday
05/28/08 Research memorandum No. 3 due (a)
06/02/08 Sarbanes/Oxley and AS 5 Moss Adams Sarbanes-Oxley Section 404-A Guide for
Small Businesses-U.S. Securities and
Exchange Commission (c)
SEC Approves PCAOB Auditing Standard
No. 5 Regarding Audits of Internal Control Over Financial Reporting: Adopts Definition
of “Significant Deficiency”- Securities and
Exchange Commission (c)
06/09/08 Final Examination at 8 PM in our classroom CFO Magazine October 2007
Rewriting the Rules-Michelle Leder (b)
Journal of Accountancy January 2008
Driving Change-Judith O’Dell Interview (b)
(a) Written memorandums are due in my office or sent to my email address by 12 noon on the respective due date. No points will be awarded for any assignments turned in late.
(b) Obtain copy of Journal of Accountancy or CFO magazines online.
(c) Paper copy provided.
(d) Electronic copy provided.
(e) Copy available in instructors office or BAP tutoring office
____________________________________________________________________________________
The following are other topics that may be substituted for topics above or may be used for make-up assignments discussed above. You may use other topics for make-up assignments as well. However all make-up assignment topics (either from the list below or other) must be pre-approved by the instructor.
PCAOB independence rules with respect to tax services and contingent fees
Internal Control Over Financial Reporting –Guidance for Smaller Public Companies published by COSO (Committee of Sponsoring Organizations)
Statement of Financial Accounting Standards (SFAS) No. 154-Accounting for Changes and Error Corrections
Statement of Financial Accounting Standards (SFAS) No. 158-Employers’ Accounting for Defined Benefit Pension and Other Post Retirement Plans
Accounting for Derivatives
Extensible Business Reporting Language (XBRL)