accounting homework

Accountancy 374 Reporting Issues in Intermediate Accounting Instructor: Dr. David L. Senteney Ph.D. CPA CGMA Summer 2020 Quarter Department of Accountancy

Jack H. Brown College of Business and Public Administration California State University San Bernardino San Bernardino, CA 92401

Course Specifics: ACCT 374 70 60189 FO Online via CSUSB Blackboard Courseroom. Instructor Office: Office No.429 Jack Brown Building. Office Hours: 8:00-10:00AM TR and by appointment. Subject to change through the term. Office Phone: (909) 537-5789 (May leave message on my Voice Mail if no answer). Reference Material: Recommended: Kieso, Donald E., Weygandt, Jerry J., and Warfield, Terry D. Intermediate Accounting 17th

Edition. John Willey&Sons. Integrated Bundle via Inclusive Access as required for ACCT 372 and 373 per Special Agreement with Wiley. WileyPlus Assignments are submitted via the WileyPlus Website (purchased with the textbook).

Prerequisite: The prerequisite for Acct 374 Call No. 60189 is ACCT 373 and completion of the upper level writing requirement or permission of the instructor. Students who have not successfully met the prerequisites should inform the instructor on the first day of classes. Students not meeting the prerequisites for this course and remaining subsequently may invoke the University Academic Dishonesty policy. Cheating on exams will be dealt with following University policy for student conduct. Appropriate levels of reading comprehension, writing, organization, communication, quantitative, and critical analytic skills are presumed and are the student’s responsibility. Reading and comprehending assigned readings (text and other) is important for appropriate course performance. NB: Students not properly enrolled in the course will not receive a grade, regardless of work attempted or completed (without single exception). Proper enrollment is entirely the student's responsibility. About the Instructor: Dr. Senteney holds B.S., MAS, and Ph.D. degrees in Accountancy and is a Licensed Certified Public Accountant. Professor Senteney has specialized in Financial Accounting and Reporting by business entities i.e., FASB and IASB Reporting Standards, SEC Regulation and Securities Markets for over 20 years as an academic accountant. He is a prolific scholarly author on financial statement analysis and equity valuation as well as economic aspects of FASB and IASB financial accounting standards, particularly relating to security market relevance of FASB and IASB financial accounting standards. Dr. Senteney is an active member of a number of professional and academic Accounting, Financial, and Statistical associations. Course Objectives and General Comments: The preeminent objective of the course is to introduce accounting majors to the theory and practice of financial accounting and reporting in the context of Generally Accepted Accounting Principles satisfying audit requirements arising in public practice as a licensed certified public accountant. Practitioner, ethical, and international issues are integrated into class discussion in the context of the material being covered. Practitioner issues usually arise in discussing the implementation of the practices and procedures being discussed. Ethical issues germane to this course may arise in the context of, for example, earnings management practices by reporting entities. International issues usually arise in the context of this course as examples of IFRS vs. U.S. GAAP comparisons. Social and political issues may arise in as a result of discussing the economic impact of accounting practices such as fair value accounting and the 2008 financial crisis. Course Policies: Course points are not directly provided for attendance. However, students should note that they are responsible for all verbal announcements and assignments and schedule changes made in class by the instructor as determined by the instructor without exception. Departmental policy requires that students attend all classes and attendance will be noted by the instructor for advising purposes. Excused absences are provided only by notifying the instructor in advance, turning in all assignments in advance, and providing written documentation, and following University Policy. No provision is made for late assignments or work missed following upon absences. Attendance is expected and is important for good performance. The last day to drop is June 30, 2020. Students considering dropping the course should consult the instructor. All students are advised to have a clear understanding of their standing in

the course prior to the drop date. Numerical grades are carried during the Semester. Letter grades are determined by final total points only, and a curve may be used for the final total points if necessary. The earned course grade is comprised of the following:

In Class Written Examinations Other Assignments Midterm Examination a Final Examination a

20% 20%

Major Research Paper b Interactive Problem Sets c Group Current Topics Research Presentationsd

20% 20% 20%

a: Blackboard Courseroom Midterm and Final Examinations are primarily based upon assigned course textbook chapters are likely to the comprised of a mixture of essay, open-ended problems, matching, fill in the blank, multiple-choice, and true false questions. One of the best ways to study for examinations is reading and working examples from each chapter, as well as completing the WileyPlus assigned problems. The University Schedule Final Examination is not applicable and instructions for the final exam are as indicated by the instructor (date and time TBA). The final exam is likely not cumulative. b: The course paper is an assignment for all students and must be completed in order to receive a passing grade for the course. There is not an option to take a zero on this assignment. The required course major research paper is to reflect a major research project undertaken during the course time period. It should be prepared in appropriate style and good form and be approximately 12-15 pages in length and include five to seven references. The course research paper should address a major contemporary issue for Generally Accepted Accounting Principles satisfying audit requirements arising in public practice as a licensed certified public accountant and accounting and reporting for business or regulated entities. Course paper topics utilize ASC https://asc.fasb.org/ CSUSB Student Access (Access FASB-GARS here: http://aaahq.org/Research/FASB-GARS) Username AAA52067 Password CUR3q4d and are assigned to individual students and are discussed in class as the course progresses. Students should be advised that is important to start immediately at the beginning of the course identifying the course research paper topic and acquiring appropriate references to provide the basis for the required course research paper. The final day for submission of the research paper is Monday July 20, 2020 (upload to Blackboard Dropbox) or as otherwise indicated by the instructor. Students historically do not start early enough on the research and preparation of the required course paper. The individual research paper is a course requirement and students must successfully submit the individual research paper in order to receive a passing grade in this course. c: Homework problems are to be submitted on the Wiley Plus website and as otherwise indicated by the instructor. Total homework points will comprise 20% of the course grade. It is the student responsibility to submit all assignments prior to their due dates. Late Wiley Plus submissions are not accepted under any circumstances nor will the homeworks be reopened for any reason so please do not ask the instructor to reopen an assignment for you as it is simply not fair to others who have completed homework in a timely manner. d: Course Current Topics Research Presentation is a coordinated / cooperative consultative group activity numbering one per term and are presented using CSUSB student Zoom Accounts following upon the course calendar. Students undertake research related to the current professional accounting and reporting topic using https://asc.fasb.org/ and other resources and present the results using CSUSB student Zoom Accounts and PowerPoint slides. All group members are to participate in the research effort and peer group evaluations of group members are performed at the end of the Semester. Students must work with their team including responding to emails promptly,and performing assigned work in a responsible and timely manner and to the satisfaction of the other group members. The final day for submission of the Current Topics Research Presentation is Monday July 20, 2020 (upload to Blackboard Dropbox) or as otherwise indicated by the instructor. Students historically do not start early enough on the required Current Topics Research Presentation. The group current topics research project is a course requirement and students must successfully participate in the group current topics research project in order to receive a passing grade in this course. NB1: The instructor reserves the right to adjust learner final course grades for instances of not promptly responding to e-mail messages from the instructor, learner not been cognizant of instructor class announcements, learners not participating in group research assignment activities, and instances of learners not promptly responding to group research assignment team the emails. NB2: Instances of learners signing names other than their own or in addition to their own names on course related activity attendance sheets will be treated as instances of academic dishonesty with all attendant repercussions.

It is the student's responsibility to make sure (s)he is present for the exam and turns it in to the instructor. No make-up exams are provided. A tentative grading scale is: A > A- ≥ 90%; B+ > B > B- ≥ 80% ; C+ > C> C- ≥ 70%; D+ > D > D- ≥ 60% ; All Else F. Incompletes are granted following University Policy only. Partial credit may be awarded but should not be presumed. The way to assure full credit is to provide a perfect answer. Individuals with conflicts should discuss them with the instructor. Academic misconduct will be dealt with following University Policy. Academic misconduct is defined as cheating and/or plagiarism. Policy provides for a failing grade and referral to the Director of Judiciaries. All University Holidays will be observed. In addition, the course policy is to be sensitive to religious practices not explicitly provided for. Provision will be made for major religious holidays not explicitly provided for by University Policy. Students requesting provision for their religious practice are asked to notify the instructor seven days in advance.

Every reasonable attempt will be made to remove any physical barrier which may hamper the ability of an individual to learn in this classroom. Anyone who has a physical or learning limitation that would impact attendance, preparation, participation, or timely completion of assignments should feel welcome to discuss this limitation with the professor. Your instructor is committed to helping meet your individual needs and to supporting your efforts for a quality education. Final Exam: Week of July 13, 2020 (date and time TBA) The Instructor may, at his discretion arrange for alternate time/location midterm and or final examination environments and will be indicated by the instructor before each course examination.

An Acct 374 Summer 2020 Term Tentative Course Calendar: The Tentative Quarter calendar shown below is only a rough plan of the Quarter course topic and assignment coverage and IS NOT FIRM. The course calendar is SUBJECT TO CHANGE by the instructor at the discretion of the instructor based on a variety of factors. It is important for learners to stay engaged so that they are aware of changes to the course calendar shown below as well as assignments for which course points are earned as communicated via the CSUSB Blackboard Courseroom Email. Being disconnected from the class and instructor announcements is a major contributor to poor learner performance.

Meetings Week of Topic KWW Assignments No.1 June 22, 2020 Chapter No.24 Full Disclosure Reporting WileyPlus Due June 28, 2020 11:00PM No.2 June 22, 2020 Chapter No.22 Accounting Changes And Errors

Corrections WileyPlus Due June 28, 2020 11:00PM

No.3 June 29, 2020 Chapter No.19 Deferred Income Taxes WileyPlus Due July 5, 2020 11:00PM No.4 June 29, 2020 Chapter No.21 Issues in Accounting For Leases

Obligations (ASU) WileyPlus Due July 5, 2020 11:00PM

No.5 June 29, 2020 Examination No.1: Chapters 24,22,21,19 CSUSB Blackboard Courseroom Activity No.6 July 6, 2020 Chapter No.20 Accounting For Pensions Plans WileyPlus Due July 12, 2020 11:00PM No.7 July 6, 2020 Chapter No.23 Statement Of Cash Flows WileyPlus Due July 12, 2020 11:00PM No.8 July 13, 2020 Chapter No.18 Issues in Revenue Recognitions

(ASU) WileyPlus Due July 19, 2020 11:00PM

No.9 July 13, 2020 Chapter No.17 Accounting For Investments (ASU)

WileyPlus Due July 19, 2020 11:00PM

No.10 July 13, 2020 Examination No.2: Chapters 20,23,18,17 CSUSB Blackboard Courseroom Activity No.11 July 20, 2020 Course Paper and Group Research Project Due Must Upload ALL WORK to Blackboard

NB1: The above tentative course calendar is subject to change by the instructor on a week by week basis as the Quarter progresses. Any changes will be announced via CSUSB Blackboard Course Email as the Quarter progresses and, consequently, students should be sure to be paying attention and noting all assignment and calendar changes when announcements are made. It is the student’s responsibility to be aware of the effective calendar at any date. Being disconnected from the class and instructor announcements is a major contributor to poor learner performance. NB2: The Midterm Examination and Final Examination Scheduled as Week of June 29, 2020 (date and time TBA) and Week of July 13, 2020 (date and time TBA) are unlikely to change. There is no provision for makeup exams and unexcused absences will result in a grade of zero for missed work. Missed exams will result in a zero score without exception and no make-up exams are provided. Being disconnected from the class and instructor announcements is a major contributor to poor learner performance. NB3: Course current topics research paper requirements and some possible research paper topics will be distributed as supplemental schedules. Course research papers are submitted NLT July 20, 2020 (date and time TBA). NB Course Paper Submission: Uploading Paper to Blackboard is required. Late papers will not be accepted. The individual research paper is a course requirement and students must successfully submit the individual research paper and participate in the group current topics research project in order to receive a passing grade in this course.

Course Research Paper Guidelines: Use established style requirements. Quickly speaking, the course paper format requirements are: 1. A major individual research effort. 2. Approx. 15 pages but that depends on the difficulty of the topic. 3. Double spaced, 12 pt font, 1" margins all around. 4. FORMAL DOCUMENTS ARE NEVER RIGHT JUSTIFIED. Justify left margin only. 5. Topic regarding ASC Updates and assigned by instructor. 6. Cover page, abstract, introduction, literature review section, then SEPARATELY your opinion section. 7. 5-7 references on a reference page. I prefer footnotes although established style requirements presently use endnotes.

EDUCATIONAL REQUIREMENTS TO TAKE CALIFORNIA CPA EXAM

To qualify and sit for the Uniform CPA you will need bachelor’s degree and evidence of at least 24 semester units of business-related subjects and 24 semester units of accounting subjects. The below classes can be used towards this requirement. The type of bachelor’s degree does not matter.

Business-related subjects include: Business Administration; Computer Science/Information Systems; Business Communications; Economics; Business Law; Finance (for example, Financial Management); Business Management; Marketing; Business Related Law Courses offered by an accredited law school; Mathematics; Statistics Accounting Subjects include: Accounting; Financial Reporting; Auditing; Financial Statement Analysis; External or Internal Reporting; Taxation If you have more than 24 semester units of accounting units these units may count towards the business-related subjects.

EDUCATIONAL REQUIREMENTS FOR CALIFORNIA CPA LICENSURE BEGINNING JANUARY 1, 2014

BACCALAUREATE DEGREE & 150 SEMESTER UNITS

24 SEMESTER UNITS – ACCOUNTING SUBJECTS

• Accounting • Financial Reporting

• Auditing • Financial Statement Analysis

• Taxation • External & Internal Reporting

• Business Administration • Business Management • Business Communications • Economics • Finance • Business Law • Marketing • Statistics • Mathematics

• Computer Science & Information Systems Business-related law courses offered at an accredited law school

• Any accounting subjects in excess of the 24 units needed to fulfill the accounting requirement

20 SEMESTER UNITS – ACCOUNTING STUDY

• Minimum 6 semester units in accounting subjects (see above)

• Maximum 14 semester units in business-related subjects (see above)

• Maximum 9 semester units in other academic work relevant to business and accounting (maximum 3 units from any one area)

Skills-Based Courses: Courses completed in the following disciplines: English, Communications, Journalism, and the

Physical, Life, Natural, & Social Sciences

Foreign Languages: Courses in foreign languages (including sign language) and courses with the Cultural & Ethnic Studies –terms culture, cultural, or ethnic in the titles

Industry-Based Courses: Courses with the words “industry” or “administration” in the title or courses completed in the following disciplines: Engineering, Architecture, and Real Estate

• Maximum 4 semester units in internships/independent studies in accounting and/or business-related subjects

• Completion of a Master of Accounting, Taxation, or Laws in Taxation is equivalent to 20 semester units of accounting study

10 SEMESTER UNITS – ETHICS STUDY (RESULTING FROM PASSAGE OF SB 773)

• Maximum 10 semester or 15 quarter units in courses containing any of the following terms in the course title:

o Auditing o Business, Government & Society

o Business Leadership o Business Law

o Corporate Governance o Ethics

o o

Corporate Social Responsibility

Fraud

o Human Resources Management o Legal Environment of Business

o Management of Organizations o Organizational Behavior

o o

Morals

Professional Responsibilities

• Maximum 3 semester or 4 quarter units in courses from the following disciplines:

o Philosophy o Religion o Theology

Education required to sit for the CPA Exam:

Coursework completed throughout college

Bachelor's degree 36 quarter units of accounting 36 quarter units in business-related

Education Coursework Required for: CPA Licensing and Eligibility to be hired at a Public Accounting Firm**

All of this coursework must be completed before your first day of work for most accounting firms. You will need all of this coursework when you are applying for your CPA License.

Including the above 36 units, totaling: Completion of 45 quarter units of accounting Completion of 45 quarter units of business-related subjects Completion of 12 quarter units in additional relevant work Completion of 15 quarter units in ethics Evidence of a total of 225 quarter units