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THE UNIVERSITY OF ILLINOIS AT CHICAGO College of Business Administration Department of Accounting Accounting 500 Online -- FINANCIAL ACCOUNTING Summer Semester 4 hours credit Instructor: Brian W. Leventhal, MBA, CPA (inactive) mai l: BrianLev@uic.edu Office: 2306 University Hall Phone: 312 Office Hours: Tuesday & Thursday y appointment Virtual Office Hours: AOL Instant Messenger Screen Name : ProfLeventhal Prerequisite : Admission to the Graduate College of Business Administration or approval by the Accounting Department. Graduate level standing. (Concurrent enrollment in AC506 is strictly prohibited unless approved.) Catalog Description: Concepts and standards underlyin g the preparation and analysis of external reports; Required Materials (1 ) Financial Accounting: The Impact on Decision Makers th Edition Gary A. Por ter, Curtis Norton Published by Thomson South Western ISBN 10: 1439054169 (Includes Cengage Now Code) 10: 0324655231 (Text only Cengage Now Code can be purchased online if a used book is purchased) (2) Interpreting and Analyzing Financial Statements by Karen P. Schoenebeck,(Prentice Hall, Inc., 200 ), th ISBN: 0132391902 Recommended Materials: ) Study Guide Published by South Western/Thomson Learning ISBN/ISSN: 0 324 30318 Course Requirements and Weighting: Midterm Examination (online) 120 points Due Friday, March 5 th 11:55 p.m. Final Examination (online) 120 points Due Friday, May 7 th 11:55 p.m. c. Current Events Discussion (online) 20 points if not completed d. Online Quizzes 10 points each e. On Line Homework completion 5 points each chapter f. Completion of Schoenebeck Homework 50 points NOTE: This Syllabus represents a contractual agreement. You are responsible for reading this entire Syllabus and abiding by all provisions identified below. Your registration in Accounting 500 signifies acceptance of all requirements, terms and conditions. Letter Grades A = 90% of course points, B = 80% of course points, C = 70% of course points, D = 60% of course points, E = below 60% of course points. IN = Incomplete (will be assigned only under the conditions specified in the University catalog). We reserve the right to utilize a curve HOMEWORK Many of the homework assignments require advance preparation. You should always be looking at least a week ahead of time to make sure the material is completed on a timely basis. All homework must be completed on line from the Porter text using Cengage N ow . Homework chapter problems must be completed with at least overall 70% correct answers for each chapter. You are allowed 5 tries per problem. Schoenebeck homework assignments should be completed manually using the workbook. The Schoenebeck homework does need to be turned in. All homework assignments will be available for printing as MS Word documents once the homework deadline date has passed. Schoenebeck activities homework answers are viewable but not printable. Porter homework answers will be a vailable in on line format and are available for printing. CURRENT EVENTS DISCUSSION BOARD (Blackboard): Each student must respond at least 4 times during the semester to a current events original article or comment to receive credit. Your response should be meaningful and substantive and add something to the discussion. Your comment can be no more than 2 weeks old from when the original article has been placed in the discussion board under blackboard. ONLINE QUIZZES : Online blackboard quizzes are 10 points each and consist of 10 multiple choice questions for each chapter. The content of the questions will mostly test conceptual understanding with some quantitative testing. The exams will be more quantitative much like the homework. The quizzes are timed and must be completed by the due dates on Cengage Now SCHOENEBECK HOMEWORK: The Schoenebeck homewor k must be completed manually in the workbook. It is very time consuming and may take a few weeks to finish. So once you get to the middle of the semester you should scan the activities and complete the ones where we have already studied the topic in Port er/Norton. Once the homework is complete it should be scanned as and the file name should be your complete name. Send the file to my Digital Drop Box in Blackboard. The Digital drop box is located under “course tools” below the Red buttons. KEYS TO SUC CESS : Commitment: Accounting is not hard, but it’s hard work. To do well, you should understand that this course requires a serious time commitment Preparation: To perform adequately in this course, you must have a thorough understanding of the text an d the homework materials assigned. It is imperative you read the assigned Chapter before you attempt to complete each chapter’s homework assignments and review of homework answers. Expect the reading of each Chapter to take at least three hours to complet e. Homework: The homework should be completed to the best of your ability on the date assigned. On occasion there may be difficult problems that you cannot complete. However, you should still make a legitimate attempt. Allocate another three to four hou rs to complete each Chapter’s homework including the Schoenebeck assignments. Attendance : This is an on line class so attendance is not required a. Since learning accounting is so time consuming, it is not a good idea to get behind because it will be difficult to catch up. So please keep pace with the syllabus! Exams will be based on the textbook, lectures, and homework assigned. Complete the homework not just for the calculations but for understanding the underlying concepts and principles it is co nveying. Understanding and interpreting the use of accounting information is just as important as the calculation of a number. You will be tested on how well you interpret accounting information, not just on whether you can arrive at the correct calculati on of a number. SYLLABUS NOTES: Appendices do not need to be read unless specifically assigned. 2. All homework assignments (as a chapter ) must be at least 70% correct or higher to receive credit. A maximum of 5 attempts is allowed. Ex=Exercise P = Problem C= Case Week 1 Beginning Preview Chapter 1 On Line Lecture Notes Read : Chapter 1 Accounting as a Form of Communication Prepare Homework: Porter P1 4, P1 5, P1 7, P1 Chapter 1 Homework must be completed no later than, Saturday , 11:5 p.m. Review of Chapter 1 Homework Answers is available under “Homework” link after due date has passed. Preview Chapter 2 On Line Lecture Notes Read: Chapter 2 Financial Statements and the Annual Report Prepare Homework: Porter P2 1, P2 2, P2 , P2 6, P2 7, P2 Chapter Homework must be completed no later than, Sunday , 11:5 p.m. Review of Chapter 2 Homework Answers is available under “Homework” link after due date has passed. Scan Discussion Board for Current Events Reading Chapter 1 & 2 Quiz must be completed by 11:5 p.m. Tuesday Week 2 Beginning Preview Chapter 3 On Line Lecture Notes Read Chapter 3 Processing Accounting Information Prepare Homework: Porter P3 2, P3 3, P3 4, P3 6, P3 7, P3 P3 P3 Chapter Homework must be completed no later than, Friday , 11:5 p.m. Chapter 3 Quiz must be completed by 11:5 p.m. Sunday Week 3 Beginning Preview Chapter 4 On Line Lecture Notes Read: Chapter 4 Income Measurement and Accounting Prepare Homework: Porter Ex4 15, Ex4 27, P4 2, P4 3, P4 4, P4 P4 8, P4 Chapter Homework must be completed no later than, Thursday 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Friday Preview Chapter 5 On Line Lecture Notes Read: Chapter 5 Inventories and Cost of Goods Sold Prepare Homework: Porter Ex5 13, Ex5 23, P5 3, P5 4, P5 8, P5 P5 11, P5 P5 Chapter Homework must be completed no later than, Sunday , 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Monday Scan Discussion Board for Current Events Reading Week 4 Beginning Preview Chapter 7 On Line Lecture Notes Read: Chapter 7 Cash, Investments and Receivables & Appendix Prepare Homework: Porter Ex7 Ex7 7, P7 1, P7 5, P7 Chapter Quiz must be completed no later than Sunday, July 7/11 11:55 p.m. Chapter Homework must be completed no later than, Thursday , 11:5 p.m. Scan Discussion Board for Current Events Reading BEGIN REVIEW OF CHAPTERS 1, 2, 3, 4, 5, 7 FOR MID TERM EXAM MID TERM EXAM LINK ACTIVATED UNDER “HW, QUIZZES & EXAM” LINK. MID TERM EXAMINATION CHAPTERS 1, 2, 3, 4, 5, 7 DUE BY 11:5 p.m. Monday , July th START WORKING ON SCHOENEBECK ASSIGNMENTS IN BOOKLET Week 5 Beginning Preview Chapter 8 On Line Lecture Notes Read: Chapter 8 Operating Assets: Property, Plant, and Equipment, Natural Resources and Intangibles Prepare Homework: Porter Ex8 1, Ex8 5, Ex8 11, Ex8 P8 , P8 6, P8 P8 Chapter Homework must be completed no later than, Friday , 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Sunday Preview Chapter 9 On Line Lecture Notes Read : Chapter 9 Current Liabilities, Contingent Liabilities and the Time Value of Money Prepare Homework: Porter Ex9 2, Ex9 8, P9 1, P9 5, P9 6, P9 P9 9, P9 10, P9 Additional homework requirements under “Course Materials” for Chapter 9. Chapter Homework must be completed no later than, Monday 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Wednesday Scan Discussion Board for Current Events Reading Week 6 Beginning Preview Chapter 10 On Line Lecture Notes Read: Chapter 10 Long Term Liabilities & Appendix Prepare Homework: Porter Ex10 3, P10 1, P10 2, P10 3, P10 P10 5, P10 6, P10 Chapter Homework must be completed no later than, Friday 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Sunday Preview Chapter 11 On Line Lecture Notes Read: Chapter 11 Stockholders’ Equity Prepare Homework: Porter Ex11 7, P11 1, P11 3, P11 4, P11 P11 7, P11 12, P11 Chapter Homework must be completed no later than, Monday 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Friday Scan Discussion Board for Current Events Reading Week Beginning Cementing Our Understanding of the Connections between the Financial Statements Using Statement of Cash Flows and How Financial Statements Are USED!!! Preview Chapter 12 On Line Lecture Notes Read: Chapter 12 The Statement of Cash Flows Prepare Homework: Porter P12 , P12 P12 , P12 P12 Chapter Homework must be completed no later than, Friday 11:5 p.m. Chapter Quiz must be completed by 11:5 p.m. Thursday Scan Discussion Board for Current Events Reading Week 8 Beginning Read Chapter 13 Porter/Norton Schoenebeck Activity Scan Discussion Board for Current Events Reading BEGIN REVIEW OF CHAPTERS 8, 9, 10, 11, 12, & SCHOENEBECK ACTIVITIES FOR FINAL EXAM, FINAL EXAM LINK ACTIVATED UNDER “HW, QUIZZES & EXAM” LINK. FINAL EXAMINATION** CHAPTERS 12, & Schoenebeck Activities Final Exam must be completed by, Friday August th 11:5 p.m. Have a great semester break you deserve it! Thanks for all the hard work.