Catalog Description:

Study of development of financial accounting theory and external financial reporting, including a critical appraisal of trends in its application.  Emphasis is placed on analysis of contemporary reporting problems. 
 

 Prerequisites: 

Accounting 402 or its equivalent.

Students are expected to be familiar with accessing and using the internet for assignments, papers, and other course requirements.
  In this course, we will make substantial use of the internet and computing facilities available through the WKU computer labs. For this class, you will be using the World Wide Web and/or e-mail.

All course material (catalog description, syllabus, and schedule) are available on the WWW. My course pages can be reached from the computer labs or from your home computer using either Netscape Navigator or Microsoft explorer.
Course Objectives:
This objectives of this course are to improve your:
  • writing ability 
  • ability to present reports to management and others concerning financial accounting policies.
  • ability to work in teams to complete assigned projects.
  • understanding of the effects of accounting standards and professional pronouncements on the financial accounting and reporting process.
  • understanding of the objectives and limitations of financial accounting and the means by which the objectives are met. 
 Central Questions Addressed:
  •  What are the objectives and limitations of financial accounting, and how do I meet the objectives when applying generally accepted accounting principles to real-life case situations?
  • How do I apply the tools learned in financial accounting, contemporary accounting issues, auditing, and other accounting courses to real-life case situations?
  • How can I communicate my ideas about the solution to an accounting problem so that others will best understand the reasoning behind the decision?
  • How do I realize the synergism and other benefits of working with others in solving accounting problems?
  • How can I best apply the rules of writing and grammar to my written reports?
    •
    Required Materials:
    Textbook/Casebook: (not yet determined)    		 Recommended Materials:

    1. Subscription to the Wall Street Journal.
    Course policies and procedures:
    • Regular attendance is required but no points or other credit are given. Consistent attendance offers the most effective opportunity for students to gain a command of the concepts and material for their course of study.  However, attendance is not in and of itself a criterion for the evaluation of the student's degree of success or failure.  Furthermore, absences  do not alter what is expected of the student. Students are responsible for all material covered and announcements made during any classes missed. 
      All assignments are to be submitted on the established due dates. Start early on each assignment, because printer problems and lost computer files are not acceptable excuses for lateness. Papers are due at the beginning of the class period. Late assignments regardless of the reason, will be penalized. The penalty may vary. Any late assignment must be turned in no later than the time that the graded assignment is returned to the class.
    • Assignments must be turned in at the start of the class period it is due unless the student has obtained permission of the instructor to turn the assignment in late.
    • We may be fortunate to have presentations by outside speakers from industry and accounting firms during those class periods when written cases are due. The presenters will be discussing policy issues from their experience in order to give you a "real-life" perspective. As a matter of courtesy to these individuals, you are expected to attend these class presentations. Furthermore, your written submission will not be accepted unless you and/or your entire team are present.
    		 Grading:

    During the course of the semester, you will be required to successfully complete the following items to receive a passing grade in this course (all items must be completed satisfactorily to pass the course): 

    • Written Case Analyses.
    • Case Presentations/discussions
    • Financial Reporting Notebook 
    • Term Examinations. 
    • Final Examination. 
    • Class participation
    • Team participation
     Each student has the responsibility to have read each case and have sufficiently reviewed the appropriate professional liturature on each case to contribute to class discussions.

    The grading scale for this course is as follows:
     
     
     

    Important Dates to Remember!
    University policies will be adhered to in all academic matters. The following dates are provided for your information:

    August 27-- Last day to drop a course without a grade. 

    October 15-- Last day to drop a course with a "W". 

    No exceptions will be made to these drop dates. If you wish to drop, you must do so by the established date. 


    Americans with Disabilities Statement:

    If you are covered by the American with Disabilities Act (ADA) or believe you may be covered by ADA, please notify the instructor of this course during the first week of the semester. You should also register with the Office of the ADA coordinator located in Potter Hall, (745-5004). By communicating early in the semester, there will be a better opportunity to develop an appropriate accommodation suitable to your needs.
    Term Examinations: Final Examination:
     
     

     

    Class Participation:

    Individual  contributions are critical to the overall learning experience of the class because much of the class involves discussion rather than lecture. Class sessions, for the most part, will consist of a series of report presentations (case solutions) as they might be presented to other parties, such as upper-level managers. You should be prepared to provide feedback to the group presenting. I will assess your contributions subjectively each period. Everyone is expected to have read assignments and analyzed cases in their entirety prior to class periods. You should come prepared to offer cogent questions, insightful comments, and logically formulated solutions.

    Grading class participation is certainly a subjective process, although I will try to make it as objective as I can. Here is a guide that may help you understand how I will grade class participation:
     

    Outstanding
    Poor
    Attributes:
  • Well prepared and able to make frequent substantive contributions to class discussion.
  • Pushes the discussion of the case to a higher, more sophisticated level.
  • Helpful--e.g., adds new dimensions to the comments of others, or able to clarify comments that are incomplete or vague.
  • Effective and constructive communication style, rather than personal or disrespectful.
    		•  Attributes:
  • Rarely talks, or worse, misses classes.
  • When volunteers to speak, makes only shallow, piecemeal, or irrelevant comments.
  • When called on, either unprepared or unable to articulate much that makes sense.
    		•

    PRESENTATIONS:

    		 Written Case Assignments:
    There are three cases that will require written solutions during the semester. You will prepare one of these solutions yourself, and two will be prepared with members of a team.  Click the heading for more information. If you need additional information to improve your writing, I suggest you consult a writer's guide, such as The Accountant's Guide to Professional Communication, by McKay and Rosa (Dryden Press, 2000).  All submissions should be typewritten (word processed) and double spaced, with 12-point type, lines no longer than 6.5 inches, and no more than 27 lines per page. Correct solutions, precise documentation of references, presentation style, clarity, originality, spelling, grammar, and punctuation will be the primary grading criteria. 

    Case Presentations/Discussions:
     
     

    Financial Reporting Notebook:

    Students are to keep a Financial Reporting Notebook. This notebook should contain Wall Street Journal articles, other articles pertinent to the class and/or to the contemporary issues facing the accounting profession.  Choose 3 of these articles and provide a one page summary of the main points contained in the article.  Your class notes, handouts, web page downloads, case analyses  and other materials pertaining to the class should also be included. 
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