April l 2, 2007 Version No.1
BA 319
External Reporting II
Spring 2007
Course Number: BA 319
Course Credits: Four
Course Schedule: Twice per week in two hour blocks on Mondays and Wednesdays.
BA 319 Section 1 meets from 8:00 pm – 9:50 am
BA 319 Section 2 meets from 10:00 am-11:50 am
Course Location Bexell Hall Room 207
Prerequisites: A grade of “C” or better in BA 318 and departmental approval
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 1:30 pm- 3:30 pm
Tuesday 8:00 am- 9:15 am (recommend appointment)
Wednesday 12:15 pm- 1:15 pm
Or by appointment
Learning Resources: Required text- Intermediate Accounting (12th edition) by Kieso, Weygant, and Warfield, Wiley
Recommended text-Effective Writing: A Handbook for Accountants (Seventh Edition) by, May and May, Prentice Hall.
Other- Corporate Form 10-K’s as announced in class
Changes to Syllabus
and Tentative
Schedule: The instructor reserves the right to make changes to this syllabus and tentative schedule as necessary. Any changes to the course schedule, content or syllabus will be announced during a regular class period.
Course Description: This course is a three module continuation of BA 317 and BA 318. The first module covers stockholders’ equity and the accounting for investments (chapters 15, 16, and 17) and the second module covers pensions, leases, and financial accounting for income taxes (chapters 19, 20, and 21). The remaining module covers revenue recognition and the statement of cash flows (chapters 18 and 23).
Course Organization: BA 319 will be conducted by lecture with considerable time spent reviewing assignments. Our pace will be approximately one Kieso textbook chapter per week. You are expected to read and study the chapter and to prepare 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. Additionally in-class assignments and quizzes will account for approximately 1% of your final grade.
Measurable Student
Learning Outcomes: The primary learning outcomes of BA 319 are to acquire sufficient knowledge and understanding of the accounting issues related to the stockholders’ equity, investments, pensions, leases, income taxes, revenue recognition and the statement of cash flows that will allow you to apply generally accepted accounting principles to solve accounting problems related to these areas, 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 and to be able to communicate your understanding of the accounting issues to clients and colleagues.
Classroom
Environment and
Policies: BA 319 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. Students learn more when there is an appropriate learning atmosphere. 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.
All students are expected to conduct themselves in a courteous and professional manner at all times and prepare all assignments in a professional manner.
Regular attendance and active participation are imperative if this class is to be a meaningful experience for all students. An excessive number of absences and/or lack of active participation will be considered when determining the final grade in this course. Students are expected to participate in class discussion of assigned homework and reading materials.
Please do not come into class late, read (textbook or newspapers) during class, sleep during class, talk excessively with other students during lectures or otherwise be disrespectful to the other students or the instructor. Such behaviors are disruptive to the learning environment and could adversely affect your final grade.
Classroom
Environment and
Policies, continued: 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.
Classes are full and there is no room in either section. Unless you have received prior permission you will be expected to attend the section in which you are enrolled.
All graded assignments (homework, quizzes and written research memorandums must 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. Such as set forth in the examination section below. Assignments will receive reduced 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/reviewed. However specific grading questions are limited to the two week period beginning the day after the day the graded assignments are returned in class or the exam results have been made available for review
Classes are full and there is no room in either section. Unless you have received prior permission you will be expected to attend the section in which you are enrolled.
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. Also all email communication that I initiate will occur through your ONID email address.
Dos and Don’ts
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Do |
Don’t |
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1. |
Be professional |
Read during class |
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2. |
Be courteous |
Sleep during class |
|
3. |
Arrive on time |
Talk excessively |
|
4. |
Allocate time to this course |
Let your phone ring in class |
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5. |
Work assigned problems prior to class |
Cheat |
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6. |
Write professional correspondence |
Send unprofessional e-mails |
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7. |
Attend the class you are assigned |
Attend the other section |
Evaluation of
Student
Performance: Course requirements include examinations, general homework assignments, in-class assignments and written research memorandums, as further discussed below. The weighting on the course requirements is as follows:
|
Assignment/Test |
Points |
|
|
|
|
Midterm Examination No. 1 |
110 |
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Midterm Examination No. 1 |
110 |
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Final Examination |
130 |
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General Homework (14 @ 5 points each) |
70 |
|
Quizzes (6 @ 5 points each) |
30 |
|
Written Research Memorandums (2 @ 25 points each) |
50 |
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Total Possible Points |
500 |
Grade
Distribution: Your course grade will be determined by your performance based on the total points earned throughout the entire class 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. Any adjustment of the curve will only be applied to the final grade. Note that at least a C must be earned to enroll in accounting courses that list BA 319 as a prerequisite.
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A |
450-500 |
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B |
400-449 |
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C |
350-399 |
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D |
300-349 |
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F |
Below 300 |
Written Research
Memorandums: The intermediate accounting courses are designed to provide the accounting student with a strong foundation in accounting standards and other relevant rules; however, the body of authoritative literature is constantly changing to reflect changes in the financial environment. Accounting professionals must understand how to access this body of authoritative literature, understand it, and apply it to situations. Accounting professionals must also be able to logically and clearly communicate these findings to other parties in documents which could be provided as evidence in a court of law. Students will individually prepare written research memorandums (2) and turn them in to the instructor on the assigned due dates. The purpose of these assignments is to provide students with a forum to use the knowledge they have gained and other research to develop an understanding of real-world accounting events and scenarios. Since communication skills are essential to the profession, 40% of the grade will reflect the quality of the communication including writing clarity, conciseness, appropriate organization, and attention to audience. The remaining 60% is allocated to accurate content, document completeness, technical correctness and support, and quality of the overall paper. It is recommended that students consult the May and May text before completing this assignment. The topics and further requirements for the memorandums will be provided later in the term. This is an individual assignment.
Examinations: There will be 3 multiple choice examinations. The two mid-term examinations and the final examination are designed to measure your knowledge and understanding of the material presented in the textbook, homework assignments, class lectures and discussions. The examinations will cover information included in the readings as well information and handouts provided during class. See the assignment schedule for examination dates. The final examination will be given according to the university final schedule. You are strongly urged to make every effort to take the examinations as scheduled. The accounting faculty has a policy to not allow early examinations.
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. You may bring a calculator, pencil and eraser into the examinations. No note cards or any other supporting materials will be allowed during exams. I will inform you in advance of the each of the examinations if additional information or materials, if any, will be allowed to be brought to the examination.
Make-up examinations for the mid-term examinations will only be given if you have an excused absence. Alternatively, the weight of the remaining exams may be adjusted in the case of an excused absence. The choice rests with the instructor. An excused absence will generally be allowed only if you meet one of the four situations listed below which will be rare. Students who miss an examination without an excused absence will not be given a make-up examination and will be given a score of 0.
a) A medical emergency or illness/injury that prevents you from taking the examination at the scheduled time. You must provide medical documentation.
Examinations,
continued: b) A death in your immediate family that you can document.
c) Participation in an official Oregon State University event. You must make me aware of such commitment within two weeks of the scheduled examination date.
d) You experience some other unknown extreme circumstance that may require a make-up exam at my discretion.
The final examination must be taken at the scheduled time during finals week. The final examination is mandatory. Students who miss the final exam will receive a failing grade for the course.
Homework
and Quizzes: Preparation of homework assignments is critical for success in any intermediate accounting course. The tentative schedule indicates problems and exercises that may be reviewed in class on the days indicated. Students are expected to demonstrate their preparation by answering questions posed about the assigned problems. The assigned homework is an integral part of the course experience, and as such, all students are required to prepare their written solutions to the assigned problems before the in-class discussions regarding the assignments. The assignments provide practice in solving accounting issues and are to be ready for collection at the beginning of class on the day that they are listed in the tentative schedule. The assignments I have selected are to reinforce the concepts covered in lecture and reading. Assignments will be primarily graded for effort, completeness and to some extent correctness. There will be no copies of the homework solutions available to students outside of class.
No late assignments will be accepted except for situations similar to make-up exams discussed above. 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 homework, it will not be graded and you will receive a score of 0. You may not resubmit homework if it is rejected as unreadable. You may wish to keep copies of your homework sets as they may not be returned to you before your examination. I will inform you any additional specific requirements during the term.
During the term, several quizzes will be conducted. The purpose of these quizzes is to promote preparation and assess mastery of the course materials. The content of the quizzes will cover problems and materials covered since the last quiz. These quizzes are open book and open note but are of limited time duration. The purpose of the quizzes is three-fold: to encourage regular attendance, to encourage preparation for the daily class material, and to test the student’s understanding and competencies in the current course materials. Due to the nature of the quizzes, no make-ups will be given.
Working in
Groups: You may work in a group (2-3) if you wish to work through homework assignments and the written research memorandums. However you must each submit individual homework assignments and research 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.
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, it will at a minimum result in a grade of zero on the test or assignment and at a maximum result in a failing grade in the class. 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 or assignments provided to other students in previous classes. Academic dishonesty rules apply both to the originator and the copier. You should guard your work carefully. If you are unsure what constitutes plagiarism, please see me. 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 737-4098.
A Little Personal
Background: I started my accounting career with Coopers & Lybrand (now PricewaterhouseCoopers) in 1975 and was a partner in PwC from 1983 until my retirement in 2005. I was located in Portland, Oregon throughout my entire career. I served numerous publicly and privately held clients in a variety of industries including retail/distribution, real estate, construction, food processing and manufacturing. I provided audit related services to publicly held businesses and provided audit, review and compilation services to privately held businesses as well as income tax planning and compliance services to those businesses and to their owners and key management.
I assisted many of my clients in addressing accounting, tax and operational issues such as identifying and analyzing financing alternatives, evaluation of acquisition targets, entity formation and structuring, preparing prospective financial information, evaluating capital project alternatives, developing and evaluating accounting methods and procedures and reviewing income tax planning strategies. .
I received a Bachelor of Science degree in Business Administration (with a concentration in Accounting) from Oregon State University in 1975. I currently serve on the OSU College of Business Circle of Excellence and the OSU Accounting Circle. I am a member of the Oregon State Alumni Association and have also been active with the accounting program at Oregon State University making numerous presentations at Beta Alpha Psi meetings as well as being a guest lecturer in accounting classes.
I am a member of the American Society of Certified Public Accountants, Oregon Society of Certified Public Accountants. I have also belonged to numerous trade associations over the years. I currently serve on the complaints committee of the Oregon State Board of Accountancy. I am also a past Chairman of the Oregon Donor Program, past Assistant Treasurer of the Juvenile Diabetes of Oregon, past Treasurer of the Lake Oswego High School parent club and was a Little League and youth softball coach, as well as being active in other youth athletic programs, for many years.
I met my wife, Joanne, at Oregon State University, and we have been married for almost 32 years and have two daughters, Ashley and Kelly. Ashley is currently a senior at Oregon State University.
In my retirement I am doing some consulting, serve as a corporate board member and am involved with nonprofit/charitable activities. I also have been doing some traveling.
TENTATIVE SCHEDULE
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Part I: Shareholders’ Equity - the Recording and Presentation of Ownership Interests; Recording and Presentation of Investments |
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1 |
April 2 |
Introduction, Syllabus, EDGAR (www.edgar-online.com) or SEC (www.sec.gov)Readings: Chapter 15- Stockholders’ Contributed Capital - Stock Issues, Treasury Stock & RetirementsDiscussion: Chapter 15- Q’s 1-7, 9-13, 15, 16; BE’s 1, 2, 3 |
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April 4 |
Assignments: Chapter 15- BE’s 4, 5, 7; E’s 1, 5, 9; P’s 2Readings: Chapter 15- Stockholders’ Equity: Dividends and Stock SplitsAppendix 15A- Dividend Preferences and Book Value Per Share Discussion: Chapter 15- Q’s 18-24, 26 |
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2 |
April 9 |
Assignments: Chapter 15- BE’s 11, 13, 15; E’s 14, 21; P’s 11 Readings: Chapter 16- Dilutive Securities and Compensation Plans Discussion: Chapter 16- Q’s 1-3, 5,6,9, 10-14 |
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April 11 |
Assignments: Chapter 16- BE’s 4, 6, 9, 12 ; E 1 ; P 1 Readings: Chapter 16- Earnings per Share Appendix 16A- Other Stock-Based Compensation Appendix 16B- Comprehensive Earnings Per Share Illustration Discussion: Chapter 16- 16, 20, 22, 23, 24, 25 |
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3 |
April 16 |
Assignments: Chapter 16- BE’s 9, 12, 15 ; E 16 ; P 7 Readings: Chapter 17- Fair-value Accounting for Passive Investments - Accounting for Non-Passive Investments – The Equity Method Discussion: Chapter 17- Q’s 1-6, 10 First Memorandum Due |
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April 18 |
Assignments: Chapter 17- BE’s 3, 5, 6, E 9, 10 Readings: Chapter 17- Non-Passive Investments – The Equity Method Appendix A- Investments: Derivative Instruments Discussion: Chapter 17- Q’s 12, 15, 18, 20, 34 |
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4 |
April 23 |
Assignments: Chapter 17- BE’s 5, 6 ; E 13, 14– 30 minutes Part I Midterm Exam Chapters 15, 16 and 17 – 1 hour 20 minutes |
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Part II: Special Liabilities: Taxes, Pensions, and Leases
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4 |
April 25 |
Readings: Chapter 19- Fundamentals of Accounting for Income Taxes Discussion: Chapter 19- Q’s 1-9 |
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5 |
April 30 |
Assignments: Chapter 19- BE’s 1, 4; E’s 3, 6, 7; P 1 Readings: Chapter 19- Net Operating Losses and the Taxes in the Financial Statements Appendix 19A- Comprehensive Example of Interperiod Tax Allocation Discussion: Chapter 19- Q’s 10-18 |
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May 2 |
Assignments: Chapter 19- BE’s 13, 14, 15; E 10: P9 Readings: Chapter 20- Nature of Pension Plans and Accounting for Pensions Discussion: Chapter 20- Q’s 1, 2, 4, 5, 6, 7, 8 |
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6 |
May 7 |
Readings: Chapter 20- Accounting for Pensions Discussion: Chapter 20- Q’s 10-12, 14,20,24, 26 Second Memorandum Due |
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May 9 |
Assignments: Chapter 20- BE 1, 10; E 11; P 2 Readings: Chapter 21- Lessee Accounting Discussion: Chapter 21- Q’s 1-5, 7, 8 |
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7 |
May 14 |
Assignments: Chapter 21- BE’s 1,2; E’s 1, 2; P’s 2, 7 Readings: Chapter 21- Lessor Accounting Appendix 21A- Examples of Lease Agreements Appendix 21B- Sale-Leasebacks Discussion: Chapter 21- Q’s 6, 9, 10, 11, 17, 19 20 |
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May 16 |
Assignments: Chapter 21- BE’s 9,12; E’s 4, 7, P 1 – 30 minutes Part II Midterm Exam Chapters 19- 21--- 1 hour 20 minutes |
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Part III: Special Revenue Recognition Issues and The Cash Flow Statement |
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8 |
May 21 |
Readings: Chapter 18- Revenue Recognition at Point of Sale and Before Delivery Discussion: Chapter 18- Q’s 1-6, 7-10, 12, 13 Date of BAP Banquet |
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8 |
May 23 |
Assignments: Chapter 18- BE’s 1, 3, 4; E’s 1, 9, 10, Readings: Chapter 18- Revenue Recognition After Delivery Appendix 18A- Revenue Recognition for Special Sales Transactions Discussion: Chapter 18- Q’s 13-17,19, 23, 25, 26, 29 |
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9 |
May 28 |
No Class: Memorial Day |
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May 30 |
Assignments: Chapter 18- BE’s 8, 9, 10, E 11 ; P1 Readings: Chapter 23- Statement of Cash Flows Discussion: Chapter 23- Q’s 1-14 |
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10 |
June 4 |
Assignment: Chapter 23- BE’s 1, 2, 4, 5, 9, 10, E 10 Readings: Chapter 23- Statement of Cash Flows Discussion: Chapter 23- Q’s 14-21 |
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June 6 |
Discussion: Chapter 23- BE 3; P 7 Course review for final examination Course evaluations |
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F I N A L S |
June 11
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Final examination-Section 2 @ 2:00 pm Tentatively will include comprehensive multiple choice, problems and short essay. More information will be provided at a later date. |
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June 12 |
Final examination-Section 1 @ 9:30 am Tentatively will include comprehensive multiple choice, problems and short essay. More information will be provided at a later date. |
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