Acct 557

Topics: Financial statements, Balance sheet, International Financial Reporting Standards Pages: 27 (6881 words) Published: August 22, 2013
COURSE INFORMATION

Quarter – Winter 2013

Day/Time – Tuesdays, 6:00p.m.-10:00p.m.

Instructor – Timothy E. Carr, CPA

Instructor Email: timothy.carr@strayer.edu

Instructor Phone: 901-359-8408

Instructor Office Hours – By Appointment

COURSE DESCRIPTION

This course provides a framework for financial accounting concepts and practices used by internal and external users in businesses. Topics presented include the accounting cycle, financial reporting, financial statements analysis, ratio calculation and interpretation, and management decision making based on financial results.

INSTRUCTIONAL MATERIALS

Required Resources

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Financial accounting. (8th ed.). Hoboken, NJ: John Wiley & Sons.

WileyPLUS will be used in this course and is integrated with the online course shell. Students are emailed a registration code for this product when they purchase new course materials from MBS Direct Bookstore, located at http://bookstore.mbsdirect.net/strayer.htm.)

Supplemental Resources

Adler, J. (2012). When do we hold the accountants accountable? Strategic Finance, 93(12), 48-51.

Kelso, K. (2011). Building blocks of a successful financial close process. Journal of Accountancy, 212(6), 18-21.

Lamoreaux, M. (2012). A new system for recognizing revenue. Journal of Accountancy, 213(1), 30-35.

COURSE LEARNING OUTCOMES
1. Examine accounting principles and concepts used in businesses. 2. Prepare and record financial transactions in the accounting cycle according to Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) accounting methodology. 3. Prepare and analyze financial statements including the balance sheet, income statement, and statement of cash flow according to GAAP and IFRS. 4. Examine inventory costing and valuation according to GAAP and IFRS. 5. Assess appropriate internal controls, regulatory requirements according to the Sarbanes-Oxley Act, and fraud prevention and detection. 6. Analyze how IFRS accounting methods are applied to asset valuation and liabilities. 7. Analyze the accounting for corporation requirements related to stock valuation, dividends, and retained earnings. 8. Determine how to value investments and how to report them based on that valuation. 9. Calculate financial ratios, interpret results, and draw conclusions. 10. Use technology and information resources to research issues in financial accounting. 11. Write clearly and concisely about financial accounting using proper writing mechanics.

WEEKLY COURSE SCHEDULE

The standard requirement for a 4.5 credit hour course is for students to spend 13.5 hours in weekly work. This includes preparation, activities, and evaluation regardless of delivery mode.

|Week |Preparation, Activities, and Evaluation |Points | |1 |Preparation | | |Jan 8th |Reading(s) | | | |Chapter 1: Accounting in Action | | | |e-Activity | | | |Use the Internet to research companies who have been publicly exposed due to an illegality or impropriety in | | | |accounting methods. Be prepared to discuss. | | | |Activities...
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