ACC541 ... Shannon, Donald S.

FFINANCIAL ACCOUNTING - THEORY & PRACTICE I

COURSE SYLLABUS

 READING & PROBLEM ASSIGNMENTS

 

Week

CH

TOPIC

RECOMMENDED WORK

1

1

Standards

Q1- 4, 10, 14, 16, 24, 26 (p 21-22)

1

2

Framework

E2- 9 (p 60); Ethics Case (p 66)

1

3

Process

P3- 9 (p 121)

2

4

Income Statement

E4- 1, 17 (p 164-168); P4- 3 (p 170)

2

5

Balance Sheet

E5- 8, (p 248); P5-4 ( p254)

2

6

Review of Time Value

Reference only

3

7

Cash and Receivables

E7- 4, 7, 11, 14,15, 22 (p 372-376); P7- 5, 8, 11 (p 378-381)

3

8

Inventories

Through page 409 only

4

8

Inventories

E8- 3, 5, 6, 15, 28 (p 427-434); P8- 2 (p 435)

4

9

Inventories

E9- 3, 11, 15, 22, 27 (p 480-486); P9- 12, 13 (p 491,2)

5

.

MIDTERM

.

6

13

Current Liabilities

E13- 9, 10 (p 692); P13- 2, 6, 10, 11, 16 (p 697-702)

7

10

Property, Plant & Equipment

E10- 2, 6, 8, 17 (p 527-533); P10- 3, 9 (p 537-540)

8

11

Depreciation & Depletion

E11- 6, 16, 17, 22 (p 581-584); P11- 5, 11 (p 587-591)

8

12

Intangible Assets

E12- 6, 11, 14 (p 635-637); P12- 4, 5, 7, 8 (p 643-646)

9

14

Long Term Liabilities

E14- 3, 11, 12, 19, 20, 21, 22, 23 (p 752-756); P14- 1, 11, 16 (p 757-762).

10

19

Revenue Recognition

E19- 5, 7, 8, 13, 15 (p 1037-1039); P19-13 (p 1046).

11

.

FINAL

.

  

 REQUIRED TEXTS

Kieso, D.E. & Weygandt, J.J., Intermediate Accounting (2001) 10th Ed, John Wiley & Sons, Inc., N.Y., N.Y., AND

Self-Study Problems/ Solutions Book Volume 1: Chapters 1-14.

 REQUIRED NOTES

Shannon, D.S., ACC541 - Lecture Notes

 COMMUNICATION

You may call me at home or at work at any reasonable hour (7:30AM - 10:30PM seven days a week). If you leave a voice mail please begin by stating your name, the course you are taking (ACC541), and your phone number (slowly).

You can access my web page periodically to check for messages. The address is www.depaul.edu/~ dshannon.  

You can send an e-mail to me using dshannon@condor.depaul.edu. If you do please clearly indicate ... in the subject ... the course you are taking (ACC541). Failure to do this may result in having your e-mail sit unopened for quite a while.

ASSIGNED PROBLEMS

You do not have to submit any of the assignments for grading. However, developing a basic proficiency in accounting is the major objective of this course, and the examinations will test your ability to solve accounting problems. The homework assignments (above) have been selected to assist you in your efforts excel. Solutions will be provided for all these assignments.

The more you practice, the better you will perform on the examinations. You are encouraged to complete additional problems of your own choosing. If you do so, and would like to check an occasional answer, a solution manual is available for limited review upon request.

The in-class assignments are intended to stimulate discussion and more conceptual analysis of relevant financial topics. No solutions will be furnished for these assignments.

GRADING

The midterm and final examinations will consist of multiple choice questions taken from the test bank provided by the authors of the text.

 

Minimum letter grades for the course will be assigned according to the following table: 

Letter

Grade

Relative Course

Score

 

.

Letter

Grade

Relative Course

Score

A

90%+

.

C+

73%

A -

87%

.

C

70%

B+

83%

.

C -

67%

B

80%

.

D+

63%

B -

77%

.

D

60%

  

RECOMMENDED (OR ASSUMED) STUDY PROCEDURE

You should try to read over the assignments before attending class. Obviously the more time you can allocate to this, the better. However, the major objectives of the lectures will be to help clarify and embellish the text. If a particular section begins to absorb an inordinate amount of time, you might want to deal with this material after the lecture.

It will be assumed that:

  1. You have some preliminary familiarity with (not mastery of) the material before coming to class.
  2. After class you return to the text and complete your understanding of the reading assignments covered during the preceding lecture.
  3. Once this understanding has been achieved, you work the assigned problems.
  4. You will call to my attention any problems you have in achieving steps (1) through (3).

TUTORS

The School of Accountancy provides tutors and solutions manuals in the DePaul Center. To check on availability call (312) 362-8770 during weekday office hours.