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BUS A422
ADVANCED FINANCIAL ACCOUNTING
4:30P-5:45P TR, KETTLER 128
FALL SEMESTER 2008
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INSTRUCTOR
Name:      Mike Slaubaugh, PhD
Office:      Neff 350A
Office Hours:      10:30a-11:45a TR, 3:00p-4:15p TR, or by appointment
Contact:      (260) 481-6465, slaubau@ipfw.edu
Home Page:      http://users.ipfw.edu/slaubau

CONTENTS
Examinations

PREREQUISITE:
The prerequisite for BUS A422 is a passing grade in BUS A312.

COURSE MATERIALS:
The following materials are required for the course:
  1. Fundamentals of Advanced Accounting, J.B. Hoyle, T.F. Schaefer, and T.S. Doupnik, 3rd Edition, McGraw-Hill Irwin, 2009.
  2. BUS A422 Class Lecture Notes via Blackboard (elearning.ipfw.edu).
COURSE OBJECTIVES:
The overall objective of BUS A422 is to cover four financial accounting topics that have not been covered in depth in any of your previous accounting courses: (1) business combinations and consolidated financial statements; (2) international accounting; and (3) accounting for partnerships and (4) accounting for governmental entities. After completing the course, you should be able to:
  1. record transactions and prepare consolidated financial statements for parent and subsidiary companies under the equity and fair value methods.
  2. record and report transactions denominated in foreign currencies; prepare U.S. statements for companies whose operations are denominated in foreign currencies; and prepare consolidated financial statements for a U.S. parent company with a foreign subsidiary.
  3. record and report transactions affecting the owner's equity accounts of a partnership including formation, operation, dissolution, and liquidation of the partnership.
  4. record and prepare financial statements for governmental entities using the fund accounting system.
Similar to BUS A311 and BUS A312, much of the material in BUS A422 will be oriented towards procedural issues such as properly recording business transactions and preparing financial reports that reflect the operations and financial position of a business entity. However, class time will also be devoted towards discussing the accounting theory that serves as a foundation for the specific procedures and disclosure requirements for the topics covered in the course. The primary purpose of the classroom discussion is to clarify the material covered in the textbook, stress the relevant points related to each topic, and work through demonstration problems.

GRADE ASSIGNMENT:
Grades will be based on the following 350 point distribution:
  1. Exam 1 (Chapters 1-4), 100 points
  2. Exam 2 (Chapters 5-8), 100 points
  3. Exam 3 (Chapters 9-12), 100 points
  4. Take-Home Problems, 50 points
Your grade will be based on the total points you accumulate during the semester. The grading scale will be discussed in class by the instructor, but will normally be A = 90-100%, B = 80-89%, C = 70-79%, D = 60%-69%, F = below 60%. Throughout the semester, you can view your grades Your grade will be based on the total points you accumulate during the semester. The grading scale will be discussed in class by the instructor, but will normally be A = 90-100%, B = 80-89%, C = 70-79%, D = 60%-69%, F = below 60%. Throughout the semester, you can view your grades via Blackboard (elearning.ipfw.edu) and your final grade will be posted on both Blackboard and OASIS (oasis.ipfw.edu).

EXAMINATIONS:
Exams 1 and 2 will be given during class time on the dates indicated on the attached table labeled BUS A422 Schedule. For Exam 1, you will be given 1 hour and 25 minutes to complete the exam.  For Exam 2, you will be given two hours to complete the exam.
Exam 3 will be given during final exams week from 4:00p to 6:00p on Thursday, December 18.

Exams will be noncomprehensive and consist of multiple choice, problems, and short essay. Failure to take a scheduled exam without being excused in advance of the exam will result in a grade of zero. Calculators may be used on exams. However, only calculators that cannot be programmed and are unable to display text are permitted.

Click on the appropriate exam in the following list to access a review sheet for that exam.

Review Sheet for Exam 1
Review Sheet for Exam 2
Review Sheet for Exam 3

HOMEWORK:
On the attached table labeled BUS A422 Assignments, a number of Problems are assigned for each chapter covered in the course. Due to the length of time it takes to cover the detailed material in the textbook one or more problems from each chapter are designated as "Demonstration Problems". These problems, labeled with an asterisk on the assignment sheet, will be solved in depth during class as an example of how typical problems should be approached and solved. The demonstration problems are generally the best problems available in each chapter. Therefore, students should attempt these problems before they are covered in class in order to achieve the maximum benefit of the class presentation.


SOLUTIONS ON BLACKBOARD:
A link to solutions for all chapters in the Fundamentals of Advanced Accounting textbook in Microsoft Word format is available via via Blackboard (elearning.ipfw.edu).

TAKE-HOME PROBLEMS:
During the semester, the instructor will assign six take-home problems. The problems will be distributed approximately one week in advance of the due date which will be announced in class. Each assignment will be worth 10 points. The lowest of your six scores will be dropped leaving a maximum of 50 points for the remaining assignments. The assignments should be the work of each individual without consultation with other students.

Each take-home problem will be uploaded to
Blackboard (elearning.ipfw.edu) as they are assigned.

ACCOUNTING SOCIETY:
You are encouraged to attend meetings and becoming a member of the Accounting Society. Meetings are open to all majors. Information on upcoming meetings and how to become a member or officer can be found at the following web address:

www.student.ipfw.edu/~as

DELTA SIGMA PI:
Iota Lambda is the local chapter of Delta Sigma Pi, a national professional fraternity for business majors. If you are interested in information about the chapter, go to the following web address:

www.student.ipfw.edu/~dsp

MISCELLANEOUS:
Students are expected to be honest. You should avoid dishonesty or the appearance of dishonesty such as submitting the work of others for credit or allowing your work to be copied by another person. Penalties for academic dishonesty can range from receiving zero credit for the exam or assignment to failure of the course. The last date for withdrawal from the class with a grade of "W" is Friday, October 26.

BUS A422 SCHEDULE

Session Date
Day
Chapter Coverage
1 08/26 T Introduction, 1
2 08/28 R 1
3 09/02 T 1, 2
4 09/04 R 2
5 09/09 T 2, 3
6 09/11 R 3
7 09/16 T 3, 4
8 09/18 R 4
9 09/23 T 4, Review
10 09/25 R Exam 1: Chapters 1-4
11 09/30 T 5
12 10/02 R 5
13 10/07 T 5, 6
14 10/09 R 6
    10/14 T Fall Break: No Class
15 10/16 R 6, 7
16 10/21 T 7
17 10/23 R 7, 8
18 10/28 T 8
19 10/30 R 8, Review
20 11/04 T Exam 2: Chapters 5-8
21 11/06 R 9
22 11/11 T 9
23 11/13 R 9, 10
24 11/18 T 10
25 11/20 R 10
26 11/25 T 11
    11/27 R Thanksgiving Break: No Class
27 12/02 T 11
28 12/04 R 11, 12
29 12/09 T 12
30 12/11 R 12, Review
Finals 12/16 T Exam 3: Chapters 9-12


BUS A422 ASSIGNMENTS

(demonstration assignments are marked with an asterisk)

Chapter
 Multiple Choice
 Problems
1
1-10
   11, 12, 14, 16, 22
2
1-10
   13, 15, 16, 17
3
1-11
   27, 30, 31
4
1-19
   39
5
1-15
   34
6
1-18
   None
7
1-22
   25, 26, 36, 38    
8
1-20
   21, 23, 38    
9
1-14
   20, 22, 24
10
1-12
   14, 23
11
1-28
   33, 34, 37, 40, 41    
12
1-26
   42, 53    


Note: the syllabus, schedule, and assignments are subject to
minor revision by announcement in class.