COURSE SYLLABUS

Course: ACCT 3723 - Intermediate Accounting I

Prerequisite: ACCT 3013 with a “C” or better.

Course Description:
This course is the first course of a two-part sequence of intermediate accounting required for students in
the accounting program. Our primary concern is to develop an understanding of the principles involved in
the preparation of general-purpose financial statements. I like to call this the “meat and potatoes” course
because it is the foundation for all the work in accounting that many of you will need for the rest of your
professional lives! We will deal with issues regarding how to account for transactions involving the major
accounts in the asset, liability, and equity sections of the balance sheet. We will learn and explore
Generally Accepted Accounting Principles (GAAP), including the effects on the balance sheet, on
income, and on cash flows. In addition, we will critically evaluate GAAP as compared to other
alternatives, from the perspectives of both the issuer and user of financial information. We will also help
develop your ability to be a “life-long learner” by providing the opportunity to work outside the
classroom environment in projects and field research.

Nature of the Course:

This class will be a combination of lecture and discussion with significant emphasis on theory (when it
exits) and practice with regard to some of the more advanced topics in financial accounting. Please
remember that the accounting discipline is a product of evolution and is not a natural science. As we
explore the various rules and disclosure issues, it is important to try to understand how these rules fit in to
the “big picture.” Class discussion coupled with the review of text problems is an integral part of the
course.
Accounting is really an information system. GAAP represents many of the “rules” we will examine
during your study of financial accounting. Perhaps the most significant part of this course will be the
introduction of material that you will need to assimilate at both the “rules” level and at the “conceptual”
level.

Course Objectives and Value:

During the course, we will:
1) Identify issues related to the conceptual framework for financial reporting.
2) Develop skills useful for analyzing financial statements.
3) Evaluate the relationship between financial statements and the needs of financial statement users.
4) Develop the ability to express information and concepts with conciseness and clarity when writing and
speaking.
5) Develop the ability to select appropriate media for dissemination or accumulation of information.
6) Develop the use interpersonal skills to facilitate effective interaction over time.

The Goal of the Course:

Upon completion of this course you should be comfortable reading and interpreting financial statements
and understand their uses and limitations. These skills transfer not only to your future work experience,
but also towards advancing your personal financial futures. Have you heard that Tiger Woods once said
that he initially wanted to be an accounting major so that he could keep tabs on the people managing his
money?

Text and other Materials:

Course readings and assignments will consist of a mix of WWW materials, Textbook materials and news
articles. The required text is: Kieso, Weygandt and Warfield. Intermediate Accounting 13e. All other
materials will be provided freely on the web. You might find it useful to have a calculator accessible.
Class assignments and announcements will be periodically posted on the Blackboard site. Updates to the
website will be announced in class; however students should check the website regularly. The Blackboard
site will contain links to outside assignment materials, discussion forums, and other class related
information. Other materials may be handed out in class; it is your responsibility to get the handouts. You
may get missing handouts during office hours or by setting up an appointment.

Class Conduct, Procedures, Grading and Requirements:

Accounting is a rigorous course of study. I am fully committed to help you learn the course material.
However, I cannot learn the material for you. Thus, I ask that you apply the same level of commitment.

Class Conduct & Procedures:

Each class session will combine lectures on major issues related to the particular area with problem
solving exercises and discussions. REGULAR AND TIMELY attendance will contribute to your grade
in class. I will assign specific readings and questions for class discussion for which I will hold you
directly responsible. You are expected to have read the chapter material and completed the assignments
before each class session. This facilitates class discussion and valuable questions. It is very important that
you attend each class in order to ask questions and participate since this participation makes up a portion
of your grade. Emphasis is not on the duration of your air time, or on getting the right solution (there may
be no right solution) but on well-reasoned points, constructive questions, or other relevant insights that
enrich the discussion.

Preparing and understanding homework is one of the most effective ways to learn the material. You
cannot pass this course without doing the homework and staying up with the class. It is essential that
you come to class prepared to discuss and ask questions about problems and readings.
Participation:
The participation portion of your grade will be comprised of attendance and in-class
contributions. I will randomly ask questions and collect answers from you. If you are not present,
you cannot earn participation points. However, physically attending class is not sufficient to
merit a passing participation grade. You also must be prepared to engage in class discussion and
ask questions.

Communication:
You are juniors and seniors, and I expect you to communicate with me. You have my e-mail and
my phone number. Life events happen; communicate with me in a timely manner – the days
before the exam or the day of the exam. I define communication in the context of
professionalism below: what would your employer do if you missed an important deadline
without communicating with the employer?

Professionalism:
I would define professionalism in the context of a business meeting. What would your employer
expect of you during a business meeting? Several of you are close to graduating and will soon
find yourselves in the professional world. It is expected that you will act with maturity and
consideration. Disruptions in class will not be tolerated. A disruption to the class will lead to
removal of points from the overall point total.

Example: Arriving late. If you have a class before this one that is across campus, then please
speak with me. Chronic lateness is disruptive; if it is chronic, over three times, then there will be
a subtraction of 10 points from your grade for each time that you are late.

Homework:
Homework should be printed and submitted to the instructor in either Word or Excel format at
the beginning of class. The homework will assist you in preparing for each session and the
exams. Select problems will be examined in class; the remaining questions are your
responsibility to cover. You may see me if you have questions regarding a question. Homework
will comprise a small portion of your overall grade and will be graded on the basis of
completeness and effort.

Presentations, Handouts, and Note Taking:

The beginning of each class may begin with an outline of notes, materials, or examples. We will
go over certain slides within the PowerPoint for reinforcement. The PowerPoint presentations are
posted on BlackBoard. Note taking is recommended during class; my personal notes will not be
made available for each class. It is recommended that you get materials from a classmate if you
miss class. Handouts may be given during class; if you miss then get a copy from your
classmates.

Group Project:
A project will be given during the semester with two components: (1) paper and (2) presentation.
The level of effort and professionalism placed into the project will directly impact your grade on
the project. This will be a group assignment. You will be able to choose your group members, so
please plan accordingly. The project will be determined in the first two weeks of the class; this
should provide ample time to allow for a well-done project.
Examinations:
Number of exams and timing of exams: Three midterm exams and a final are given. The
midterm exams are given during a regularly scheduled class period and the final exam is given
on the time announced by the registrar.

Student note sheet. Exams are closed book, but one 4” x 6” index card of handwritten notes
and a calculator may be used on the first two exams and one page of handwritten notes may
be used on the final two exams. Anything discussed in class, the related chapters of the text or
any other class material will be fair game for the exam.

Comprehensive final. The final exam is mandatory; it will most likely focus on Chapter 10,
Chapters 11, and Chapter 12 with a comprehensive portion covering Chapters 1 through 9.

Section 01 (T Th 9:30 AM) Tuesday, December 14, 2010 1:30 p.m. to 3:30 p.m.
Section 02 (T Th 11:00 AM) Friday, December 10, 2010 8:30 a.m. to 10:30 a.m.
Section 03 (W 6:00 PM) Saturday, December 11, 2010 6:00 -8:50PM

Procedures for exams. Examinations are individual assessments of knowledge. You will be
asked to do the following for exams: (1) Wait until all exams are handed out to begin the exam,
(2) Remove headgear, (3) Bring Answer-Sheet AS100 – write name; (4) Bring Pencils, (5) Bring
Calculator, (6) Remove all other electronic devices from your desk area, (7) Turn ringer off of
cellular phones and RIMM BlackBerry devices; and (8) wait patiently for grades on exams. Your
personal exam grade sheets will be returned the next class period; the exams are non-disclosed,
and thus will not be returned.

Exams will be graded in a timely manner; you will receive the actual raw score of exam results.
There will be no curve on any of the exam grades.

Exam Appeal: On occasion you may have the desire to question the grading of a problem, ask
for additional points due to interpretation, or simply to point out an error in grading. You are
always welcome to do so, but in no event shall grade changes be made after one week from the
time your exam is returned to you. This “statute of limitations” forces us to address relevant
concerns in a timely manner. We will review the first two exams during class. Any questions not
asked during that class time will require a written appeal from you.

Make up Examinations: THERE ARE NONE, mark the dates on your calendar now. I will not
be judge and jury of both reasonable and unreasonable excuses for missed exams. In the event
you miss ONE mid-term exam, the weight will be added to your final exam. It has been my
experience that the decision to put extra pressure on your final exam will cost you one letter
grade.

Grading Curves: Prepare for exams/assignments assuming that no curve will be given on exams
or in the final grade.

Academic Integrity:
Your integrity is far more important than your GPA. As a professional, your integrity is your
prime asset and in our highly mobile professional atmosphere it is becoming even more critical.
Please refer to the University Course catalog for information on the academic integrity standards
of the University. Perhaps the most difficult ethical issue any student can face is their
responsibility to take action when they know another student is violating ethical standards. Such
violations contribute to deception of potential employers and are injurious to the ethical climate
of the entire University. Consequently, it is your responsibility to notify me if you know of
violations by other students. Violations of academic integrity will lead to sanctions as indicated
in the Undergraduate Studies Catalog of the University of Arkansas. The University and the
business community take integrity very seriously. Students who violate academic integrity will
receive a grade sanction and be reported to Judicial Affairs.

Some examples (not an exhaustive list) of what you may or may not do are:
 DON’T obtain answers from former students.
 DON’T give answers to future students.
 DON’T use any Solutions Manuals or answers other than those supplied by the instructor
 DON’T use quotes from other authors without citing the source. A group project turned
in with plagiarism will result in a failing grade for all: (1) it shows poor internal group
controls; (2) it shows that an early draft of the paper was turned in; (3) it shows that the
paper was not properly edited, and (4) each member is responsible to the entire group for
the project.

Inclement Weather Policy:

When the University is open, class and scheduled exams are held. If you have any doubts
whether class or exams will be held, please email me before leaving for class.

Individual arrangements:
Students with disabilities or with any other special needs should contact the instructor as soon as
possible in order to make the necessary arrangements.

Office Hours:
Office hours will be noted in the first day of class. Please note that office hours are established
for your benefit; the times other than office hours, class time, will be used by the instructor for
other teaching responsibilities, research responsibilities, and other departmental responsibilities.
Please note that these other responsibilities require the instructor’s time and commitment, thus
you may not receive immediate feedback on these days and the instructor will not be available
for assistance – unless you schedule an appointment. I teach on Tuesday and Thursday’s during
the semester; these days will be the best days for appointments.

Final Note:
Course topics and calendar may change at my discretion depending on the progress of the class
and the influence of important issues or trends.
Tentative Schedule: