ACC 401/601 – Fall 2016, page 1 of 9
Section 1001 ~ MW ~ 11:30 – 12:45
COURSE DESCRIPTION AND OBJECTIVES:
The course examines issues in financial reporting from both preparer and user perspectives.
Upon successful completion of this course, you should be able to:
(1) Prepare and analyze financial statements using current U.S. financial reporting
standards. In addition, you will be able to identify key differences between U.S. GAAP
and international financial reporting standards (IFRS)
(2) Consider the underlying economics of transactions and events, and understand whether
and how financial reporting under U.S. GAAP adequately captures those economics.
(3) Reason about financial reporting problems in a forward direction, similar to what preparers
normally do (i.e., work from data to journal entry to financial statement) and reason about
financial reporting problems in a backward direction, similar to what financial report users
do (i.e., work from financial statements and footnotes back to journal entries/data).
REQUIRED M
ATERIALS:
1. Intermediate Accounting, 8
th
Edition, Spiceland, Sepe & Nelson
UNLV Custom Edition Text (ACC 401: Intermediate Accounting Vol. 2)
This textbook can be purchased from the bookstore or directly from the publisher using the
following link: http://shop.mheducation.com/mhshop/store/UNLV.
2. Access to Connect (see page 3 for additional details).
OTHER MATERIALS:
1. Lecture Notes (posted on WebCampus): These include my own summarizations of important
information. These notes also include illustrative examples of real-world financial
statements and example problems.
2. Research Cases (posted on WebCampus) (see page 3 for additional details)
3. FASB Codification: You will need access to accounting standards and other online library
resources to complete the three research cases in this class. To access the authoritative
standards, the Accounting Department has purchased a subscription to the FASB
Codification. You will be able to access it via the web at: http://aaahq.org/ascLogin.cfm.
You can find the username and password in the Accounting Research Handbook on
WebCampus.
4. Accounting Research Handbook (posted on WebCampus): This handbook will assist you
with using online resources that you will need to complete your research cases for this class
(such as the FASB Codification and the SEC’s website).
5. Financial Calculator: I highly recommend that you purchase a financial calculator. In parts
of this course, we will perform time value of money calculations. A financial calculator will
enable you to do these calculations quickly and efficiently. I recommend either the regular
(not professional) Texas Instruments BA II Plus ($25 at Walmart) or the HP 10bII ($25 at
Amazon). Calculators with the ability to store information, such as a graphing
calculator, and iPhone apps are not allowed.
Accounting 401/601
Financial Accounting & Reporting I
Fall 2016
ACC 401/601 – Fall 2016, page 2 of 9
PREREQUISITES:
The successful completion of FIN 301 and ACC 400 with a C or better. Must be a business major
with Junior standing. The maximum number of attempts for this course is three, including earned
grades, withdrawals and audits.
COURSE REQUIREMENTS:
Exams:
There will be two mid-term exams and one final exam. NO make-ups after the scheduled
exam times will be given. Medical and family emergencies are the only valid reasons that will be
accepted for missing an exam. If you experience a medical or family emergency and miss an
exam, you must provide original, supporting documentation (e.g., an original, signed note from a
licensed physician and not a copy). Please automatically provide this documentation to me as
soon as you return to class. If you are excused from an exam, the other two exams will be re-
weighted. In other words, if you miss the first exam, the second and final exams will be
proportionally re-weighted. No more than one exam will be excused for any reason. If you do
not have a valid reason for missing an exam (i.e., any reason other than a true medical or family
emergency), you will receive a zero on the exam, which usually implies failing the course. If
extenuating circumstances prevent you from taking an exam at the specified time, you must
make arrangements with me at least several days prior to the date of the exam. In such
circumstances, I reserve the right to impose up to a 10% penalty for such special arrangements.
Exam Procedures: You may NOT use a graphing calculator or a calculator that stores
information on any test or exam (this includes cell phone calculators). You may use a standard
financial calculator and are encouraged to do so. During exams, all personal belongings except
for a writing utensil and a calculator must be securely stored. I reserve the right to confiscate
anything that is not secured in a closed bag during the exam, including cell phones.
Exam Return Procedures: Graded exams will be reviewed in class within one week of the
administration of the exam (unless there is a University holiday). During exam review,
everything except a writing utensil and a calculator must be secured in a closed bag, including
cell phones. You may write on the exam itself, but may not write questions from the exam on
another piece of paper or take pictures of the exam. Failure to adhere to this policy will result in
an earned grade of zero. At the end of the exam review time, all students will return exams to
me. Any exam not returned to me during class will result in an earned grade of zero. Exams
may be reviewed in my office for seven days after the date reviewed in class. After seven days,
exam scores are final and will not be adjusted. However, in preparation for the cumulative final,
you may come to my office to review your old exams.
ACC 401/601 – Fall 2016, page 3 of 9
Research Cases:
There will be three research cases. These cases are designed to help you use accounting
standards and other available resources to solve unstructured problems. The CPA exam
includes questions to test these skills. Public accountants and financial reporting managers
also use these skills on a regular basis to research accounting issues that arise in practice.
Thus, I believe that developing this skill set is a good idea. The first case is designed to help
you familiarize yourself with the technology available to research potential solutions to
accounting issues (refer to the “Accounting Research Handbook” posted to WebCampus for
guidance). The second and third cases present you with a problem for which you will describe
potential solutions available to management, cite relevant accounting standards (using the
FASB Codification website), and recommend a course of action. Your solutions are limited to
three double-spaced typed pages (i.e., they can be shorter than 3-pages, but not longer).
For the first case, you may work individually or in teams of two. You may self-select these
teams. The first case is worth 6 points. For the second and third cases (17 points each), you
will work in four or five person teams. I will determine teams for the second and third cases.
( I reserve the right to make slight adjustments to teams for the third case, if any teams need
re-balancing.) At the end of the semester, each team member will provide an evaluation of
his/her other group members (this evaluation will be submitted to me and I will keep it
confidential). I will consider this information and make any necessary adjustments to the case
grade for specific individuals in the team (e.g., a group member who provides little help on the
case will get a deduction from the grade on the case). The maximum downward adjustment is
the earned score on the case.
Connect Homework:
There will be seven Connect homework assignments. Working through homework
problems is (in my opinion) the best way to learn accounting. You will complete homework
assignments using Connect (due dates are listed on the schedule at the end of the syllabus).
Connect is an online homework program designed to allow you to do homework problems and get
immediate feedback on whether or not you did them correctly. The program shows you the correct
solution when you grade the problem. Many of the problems are algorithmic. This means that,
while all students work the same problems, the input values are different for each student. If you
start the problem, partially complete it and log out of Connect, the values for that problem should
remain the same when you return to finish the problem. You will be able to work the problems as
many times as you like and your highest score will be taken; however, keep in mind that the
algorithmic problems will give you different numbers each time you rework a problem.
To register for our course on Connect, click or copy and paste link:
http://connect.mheducation.com/class/r-enlow-2016-fall-acc-401-sec-1001-1130a
ACC 601 project (graduate students only):
Students enrolled for graduate credit (ACC 601) will have the additional requirement of
completing a written assignment. You must complete the assignment to earn graduate credit for
the course and to receive a grade in the course. I will provide this assignment (to graduate
students only) later in the semester.
ACC 401/601 – Fall 2016, page 4 of 9
COURSE GRADES:
Course grades are determined by the following weighting scheme:
Exam 1 100 points
Exam 2 100 points
Cumulative Final Exam 150 points
Research Cases 40 points
Homework 30 points
420 points
The grading scale is as follows:
A 390 - 420
A- 377 - 388
B+
364 - 375
B 347 - 363
B- 334 - 346
C+ 321 - 333
C 293 - 321
D 250 - 291
F 0 - 249
TO BE SUCCESSFUL IN ACC 401/601:
In my opinion, class attendance, utilization of course notes, and keeping up with
assignments/homework are the most important components of this course. This course will
move very quickly and the concepts will build on previous material, so it is very important that
you keep up with the material from the start. To succeed in this class, I strongly advise
that you attend class regularly, read the book chapters before we cover the material in class
(even skimming the chapter can be very helpful), and complete assignments in a timely manner.
Active participation in class sessions will also increase your likelihood of success in this class.
The reason that these components are important is because they will help you keep up with the
material, think through it before and during class discussion, and prepare for the exams.
You should expect this course to be more challenging than your previous accounting courses.
This is an intermediate level course, meaning it is substantially more difficult than an
introductory course. Furthermore, you do not have the benefit of earning points through
“professional activities” as you did in ACC 400 (e.g., writing thank you letters to presenters). It is
likely that you will need to spend substantially more time in this course than you have in previous
courses, so plan accordingly from the get-go.
ACC 401/601 – Fall 2016, page 5 of 9
WEBCAMPUS AND E-MAIL:
This course will use WebCampus extensively for class materials. I will make all course materials
available to you through WebCampus. Please make sure you check the course page regularly.
As needed, I will send emails about upcoming events, announcements, and reminders. Emails
will be sent through my UNLV email address ([email protected]). I am generally very
quick to respond to student emails. I am happy to answer an email that requests clarification
about class discussion or that asks a few questions about homework. That said, please keep in
mind that email correspondence is not a substitute for regularly attending class or coming to
office hours when in-depth assistance on homework is needed.
Accounting Department Policy
Academic Integrity Policy:
The Department of Accounting at UNLV has adopted a zero-tolerance policy for academic
dis
honesty. No grades in this class will be released until you have signed and returned an
electronic copy of this policy through Web Campus. Receipt of this copy indicates that you have
read, understand, and accept the terms of the policy. All examinations and projects in this class
are to be completed independently unless you are instructed otherwise. If you are uncertain
whether an activity you are contemplating conflicts with this policy, you are responsible for
discussing it with the instructor prior to engaging in the activity.
• Download the policy from Web Campus.
• Read the policy.
• Complete your course and section number, your name, and date section.
• Save the document on your computer.
• Click on Academic Integrity Policy in Web Campus.
• Click on ‘Browse My Computer’ to attach the completed policy.
Any copying of computer files will be considered a violation of the Department of Accounting’s
“Academic Integrity Policy” and will result in an "F" in the course for both the student copying the
file and the student who allowed the file to be copied. For additional information see the
Department of Accounting’s Academic Integrity Policy.
Follow these instructions to submit your policy in WebCampus:
ACC 401/601 – Fall 2016, page 6 of 9
UNIVERSITY POLICIES:
Academic Misconduct – Academic integrity is a legitimate concern for every member of the
campus community; all share in upholding the fundamental values of honesty, trust, respect,
fairness, responsibility and professionalism. By choosing to join the UNLV community, students
accept the expectations of the Academic Misconduct Policy and are encouraged when faced with
choices to always take the ethical path. Students enrolling in UNLV assume the obligation to
conduct themselves in a manner compatible with UNLV’s function as an educational institution.
An example of academic misconduct is plagiarism. Plagiarism is using the words or ideas of
another, from the Internet or any source, without proper citation of the sources. See the Student
Academic Misconduct Policy (approved December 9, 2005) located at:
http://studentconduct.unlv.edu/misconduct/policy.html.
Copyright – The University requires all members of the University Community to familiarize
themselves with and to follow copyright and fair use requirements. You are individually and
solely responsible for violations of copyright and fair use laws. The university will
neither protect nor defend you nor assume any responsibility for employee or
student violations of fair use laws. Violations of copyright laws could subject you to federal
and state civil penalties and criminal liability, as well as disciplinary action under University
policies. Additional information can be found at: http://provost.unlv.edu/copyright.
Disability Resource Center (DRC) – The UNLV Disability Resource Center provides resources for
students with disabilities. If you feel that you have a disability, please make an appointment with a
Disabilities Specialist at the DRC to discuss what options may be available to you. If you are registered with
the UNLV Disability Resource Center, bring your Academic Accommodation Plan from the DRC to me
during office hours so that we may work together to develop strategies for implementing the
accommodations to meet both your needs and the requirements of the course. Any information you
provide is private and will be treated as such. To maintain the confidentiality of your request, please do not
approach me before or after class to discuss your accommodation needs. The DRC is located in the Student
Services Complex (SSC-A), Room 143, (702) 895-0866. For additional information, please visit:
http://drc.unlv.edu/.
Religious Holidays Policy – Any student missing class quizzes, examinations, or any other class or lab
wo
rk because of observance of religious holidays shall be given an opportunity during that semester to
make up missed work. The make-up will apply to the religious holiday absence only. It shall be the
responsibility of the student to notify the instructor within the first 14 calendar days of the course for fall
and spring courses (excepting modular courses), or within the first 7 calendar days of the course for
summer and modular courses, of his or her intention to participate in religious holidays which do not fall
on state holidays or periods of class recess. For additional information, please visit:
.
Transparency in Learning and Teaching—The University encourages application of the transparency
me
thod of constructing assignments for student success. Please see these two links for further information:
https://www.unlv.edu/provost/teachingandlearning
https://www.unlv.edu/provost/transparency
Incomplete Grades - The grade of I – Incomplete – can be granted when a student has satisfactorily
co
mpleted three-fourths of course work for that semester/session but for reason(s) beyond the student’s
control, and acceptable to the instructor, cannot complete the last part of the course, and the instructor
believes that the student can finish the course without repeating it. The incomplete work must be made up
before the end of the following regular semester. If course requirements are not completed within the time
indicated, a grade of F will be recorded and the GPA will be adjusted accordingly. Students who are
fulfilling an Incomplete do not register for the course but make individual arrangements with the instructor
who assigned the I grade.
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ttp://catalog.unlv.edu/content.php?catoid=6&navoid=531
ACC 401/601 – Fall 2016, page 7 of 9
Tutoring and Coaching—The Academic Success Center (ASC) provides tutoring, academic success
coaching and other academic assistance for all UNLV undergraduate students. For information regarding
tutoring subjects, tutoring times, and other ASC programs and services, visithttp://www.unlv.edu/asc or
call 702-895-3177. The ASC building is located across from the Student Services Complex (SSC). Academic
success coaching is located on the second floor of the SSC (ASC Coaching Spot). Drop-in tutoring is located
on the second floor of the Lied Library and College of Engineering TEB second floor.
UNLV
Writing Center – One-on-one or small group assistance with writing is available free of charge to
UNLV stud
ents at the Writing Center, located in CDC-3-301. Although walk-in consultations are
sometimes available, students with appointments will receive priority assistance. Appointments may be
made in person or by calling 702-895-3908. The student’s Rebel ID Card, a copy of the assignment (if
possible), and two copies of any writing to be reviewed are
requested for the consultation. More information can be found at: http://writingcenter.unlv.edu/
Rebelmail – By policy, faculty and staff should e-mail students’ Rebelmail accounts only. Rebelmail is
UNLV’s of
ficial e-mail system for students. It is one of the primary ways students receive official university
communication such as information about deadlines, major campus events, and announcements. All
UNLV students receive a Rebelmail account after they have been admitted to the university. Students’ e-
mail prefixes are listed on class rosters. The suffix is always @unlv.nevada.edu.
ACC 401/601 – Fall 2016, page 8 of 9
ACC 401/601
Schedule – Spring 2016
DAILY CLASS SCHEDULE AND HOMEWORK ASSIGNMENTS
Date Topic and/or Activity Due Dates
Week 1
August 29 Introduction to Class & Technology
August 31 Chapter 18 ~ Shareholders’ Equity
Week 2
September 5 Labor Day Recess
September 7
Chapter 18 ~ Shareholders’ Equity
Di
scuss Research Case #1
Week 3
September 12 Chapter 18 ~ Shareholders’ Equity
September 14 Chapter 18 ~ Shareholders’ Equity
Week 4
September 19 Chapter 9 ~ Inventories Ch. 18 Homework Due
September 21 Chapter 9 ~ Inventories
Week 5
September 26 Chapter 9 ~ Inventories
September 28 Chapter 9 ~ Inventories
Week 6
October 3
Exam #1
Ch. 9 Homework Due
Re
search Case #1 Due
October 5
Chapter 10 & 11 ~ Operational Assets (PP&E)
Di
scuss Research Case #2 (Groups Assigned)
Week 7
October 10
Chapter 10 & 11 ~ Operational Assets (PP&E)
October 12 Chapter 10 & 11 ~ Operational Assets (PP&E)
Week 8
October 17
Presidential Debate ~ No Class
October 19
Presidential Debate ~ No Class (Campus Closed)
Week 9
October 24
Chapter 10 & 11 ~ Operational Assets (Intangibles)
Ch. 10&11 Homework
PP&
E Due
October 26
Chapter 10 & 11 ~ Operational Assets (Intangibles)
ACC 401/601
Schedule – Spring 2016
ACC 401/601 – Fall 2016, page 9 of 9
Week 10
October 31 Chapter 10 & 11 ~ Operational Assets (Intangibles)
November 2 Chapter 10 & 11 ~ Operational Assets (Intangibles)
Week 11
November 7 Exam #2
Ch. 10&11 Homework
Intangibles Due
November 9
Chapter 14 ~ Bonds & Long-Term Debt
Discuss Research Case #3
Research Case #2 Due
Week 12
November 14 Chapter 14 ~ Bonds & Long-Term Debt
November 16 Chapter 14 ~ Bonds & Long-Term Debt
Week 13
November 21 Chapter 14 ~ Bonds & Long-Term Debt
November 23 Thanksgiving Recess
Week 14
November 28 Chapter 12 ~ Investments Ch. 14 Homework Due
November 30 Chapter 12 ~ Investments Research Case #3 Due
Week 15
December 5 Chapter 12 ~ Investments
December 7 Chapter 12 ~ Investments
Week 16
December 12 Ch. 12 Homework Due
Final Exam ~ Section 1001
Wednesday
December 14, 2016
10:10a – 12:10p
