ACCOUNTING 4330

Advanced Accounting

Fall 2001

 

 

Instructor:                  Dr. Saleha Khumawala

Office:                         360 A Melcher Hall

Classes:                      MW     10:00 a.m – 11:30 a.m, Section 00282, Room 116, Melcher Hall

 

Office Hours:              MW: 11:30 a.m. – 12:30 p.m. and W: 4:30 p.m. – 5:30 p.m.

So that I might devote full attention to your needs, please schedule an appointment if you need to see me outside of office hours.

 

E-MAIL:  Saleha@uh.edu

Web address:  www.cba.uh.edu/~Khumawala/

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COURSE PREREQUISITES

 

You must have junior standing and have passed ACCT 3368 with a minimum grade of C to be enrolled in this class.  In addition, you are expected to have a working knowledge of computer spreadsheets, such as Lotus or Excel, as taught in DISC 2373.

 

REQUIRED TEXTS

 

Accounting 4330 Notes - Purchase at University Copy Center.

 

Accounting 4330 Special Assignment - Purchase at University Copy Center.

 

Advanced Accounting, Seventh Edition, by Floyd Beams, John Brozovsky and Craig Shoulders

Prentice Hall, copyright 2000.

 

Intermediate Accounting  any current text. 

 

Green Scantrons to be used for taking the examinations. 

 

OPTIONAL TEXTS

 

Objective Questions and Explanations.  Gleim and Collins, Gleim Publications, Inc.,  Most Recent Edition.  (This text will also be beneficial for preparing for the CPA examination.)

 

Accounting 4330 Solutions   Purchase at University Copy Center

 

CLASS POLICIES:

 

1.                  PLEASE ask any questions relevant to the topics covered.  Remember all questions are important.  If you do not understand a concept, ASK!

2.                  Book chapters are assigned as a guideline for class.  Reading each chapter will help you understand the class.  I assume you have read each chapter PRIOR to class.  I am very happy to help any student to learn the material.  But before you come to ask a question, I expect that you do your part of the bargain.  That is, you are to read the text, work the problems before hand, and discuss with classmates concepts and problems first.  Then you are more than welcome to ask me questions anytime!  Written material and your colleagues are valuable resources that are instrumental in any career!!!!

3.                  Absolutely no talking to fellow students and no sleeping.  Violators may be asked to leave for the remainder of that day’s lecture.  Please realize that because of the size of the class, and the difficulty of the material more than the usual level of professional courtesy and consideration is absolutely necessary.  You are expected to have the same performance and attendance that you would on your first job.  This includes arriving on time and staying until class is dismissed.  Please be respectful of others trying to pay attention.  As a courtesy to your fellow students, beepers and mobile phones should not be brought to class. 

 

4.                  Attendance is strongly recommended due to the difficult nature of the material and since some of the material covered in class and the problems worked in class to illustrate the concepts are not directly from the text.  If you miss a class, you are responsible for what happens in class (any and all announcements, handouts, discussions) and for obtaining the information covered from a classmate.

5.                  Examinations must be taken at the scheduled time.  No makeup exam is allowed unless you are involved in an emergency under certain circumstances.  If it happens to you, official affidavits and your written petition must be presented to the instructor in order to file for an official decision and record.

6.                  Any violations to the university’s academic honesty policies will result in the student getting either a “WF” or “F”.

7.                  Exercises and Practice problems from the text are assigned for you to do on your own.  They will not be collected or graded, but many of the test questions will be similar to these practice problems.  There maybe additional homework assigned in class.

8.         Course grades will not be posted by the instructor.  To receive your final exam grade and course letter grade before it is mailed by the university, you should supply a self-addressed stamped envelope to the instructor before the final examination.  Otherwise, your grade may be obtained by calling the Voice Information Processing System (713-743-8484) and following the voice instructions. 


 

DAILY ASSIGNMENTS

 

Homework - You are expected to do all the Special Homework Assignments listed in this syllabus.  A few questions, exercises, or problems may be discussed periodically in class.  Special rules apply to SPECIAL ASSIGNMENTS that have to be turned in. 

 

1.     You must be present in class to turn in the assignment.  Under no circumstances may you turn in an assignment for another student.

 

2.   Assignment will be collected at the beginning of class.  Do not attempt to turn in your assignment during class.  You cannot fax or e-mail your assignment under any circumstances.  Assignments will be given a Grade of “S,” “U,” or “F.”  You do have the option of redoing your assignment that has a ‘U’ or an ‘F’ to obtain a satisfactory grade.

 

Of all the special assignments, the lowest grade will be dropped to determine your final grade.

 

 

EXAMINATIONS

 

The first two exams are cumulative due to the nature of the material covered and the contents of the course and thus will count 60% of your grade, and a third (final) exam will count 30%.  The lower grade of the first two exams will count 25% and the higher grade will count 35%. Special assignments will count 10%.  The examinations will be comprised of multiple choice questions, and problems.  The multiple choice questions and problems will be similar to those contained in the Objective Questions and Explanations by Gleim and Collins (see recommended texts). 

Thus your GRADE in Accounting 4330 will be determined in the following manner:

 

                        Exams 1 & 2                                        60%

                        Exam 3                                     30%

                        Special Assignments                             10%

 

 

CALCULATOR POLICY

 

The CPA Examination Committee has now approved the use of four-function calculators (addition, subtraction, multiplication, and division only) on the CPA Examination.  You must use similar calculators for examinations in this class.  Calculators capable of storing text (alphabetic characters) and/or programming formulae are strictly prohibited.  Your calculator must not be capable of performing financial (e.g., PV, FV), trigonometric (e.g., sine, cosine), or statistical (e.g., regression, standard deviation) functions.  Please inquire whether your calculator meets these specifications if you have any doubt. 

The CPA Examiners supply a Sharp, Model EL-231C calculator to candidates.  These calculators are available in many department stores for less than $10.


 

ACCOMMODATIONS FOR STUDENTS WITH DISABILITIES

 

The Center for Students with Disabilities provides a wide variety of academic support services to all currently-enrolled UH students who have any type of mental or physical disability of either a temporary or permanent nature.  These services include assistance with course accommodations, adaptive equipment, individualized exam administration, taped textbooks, wheelchair repair, library needs, registration, handicapped parking, accessible housing and transportation, as well as many other needs.  If you feel that you may need assistance of this nature, you call the Center at 713-743-5400.  In addition, you should notify your professor about any special needs as soon as possible. 

 

 

INSTRUCTOR COMMITTMENT

 

I am committed to the goal of enhancement of interest and skills in accounting theory and practice.  I believe that, as a faculty, our performance is ultimately judged by whether our students (1) pass the CPA Exam, (2) obtain jobs, and (3) become productive leaders in the business community. 

 

 

WITHDRAWAL POLICY 

 

Last day to drop a course and receive a tuition refund is Wednesday, September 5, 2001.  If you desire to drop the course without the course appearing on your transcript, you must submit a drop form to Student Services on or before Wednesday, September 19, 2001.

 

If you drop between September 19 and October 20 2001, you will receive a "W" regardless of your average.

 

If you drop between October 20 and November 6 2001 you will receive a "W" if your numerical average is 50% or higher on all examinations.  Otherwise, you will receive an "F". 

 

In accordance with University policy, you cannot withdraw from this course after Tuesday November 6, 2001. 

You should retain all documentation of courses you have dropped. 

 

 

COLLEGE POLICY ON TEACHING

 

The CBA has a policy that requires all of its instructors to be evaluated by their students.  The results of these evaluations are important to provide feedback to instructors on how their performance can be improved.  In addition, these evaluations are carefully considered in promotion, salary adjustment, and other important decisions.  We openly encourage students to provide feedback to the instructors and to the CBA through the evaluation process. 


 

DEPARTMENT OF ACCOUNTANCY AND TAXATION

 

                                                                                                                                                                                               

 

 

Mission Statement

 

 

Objectives

 

Overall Teaching Objectives:

 

Research Objectives:

·        Publish articles of theoretical and empirical significance in high quality academic journals.

·        Publish articles with practical implications in widely read professional journals.

·        Publish instructional cases, textbooks, and other materials that facilitate the learning process.

·        Develop faculty with national reputations.

 

Service Objectives:

·        Participate in academic and professional associations at the local, regional, and national levels.

·        Participate in the decision-making processes of the College and University.

·        Serve as a resource to the College, University, and community.

·        Host regional, national, and international conferences.

·        Place students in professional positions commensurate with their abilities.

 

   A hard copy of the above statements will be made available upon request.

   If you have any questions, please contact DR. NOLAND (713-743-4820).

THINGS TO CONSIDER AS A SENIOR ACCOUNTING MAJOR

 

ACCOUNTING INFORMATION ON THE INTERNET.  If you are looking for accounting information on the internet, a good place to start is with the RAW site at Rutgers University at http://www.rutgers.edu/Accounting/raw.htm and the American Institute of Certified Public Accountants at http://www.aicpa.org.

 

Investigate the Career Management Timeline at http://www.cba.uh.edu/cba/csctime.html to make sure you are fulfilling all requirements and taking advantage of all opportunities. 

 

Join an accounting organization - Accounting majors have the opportunity to join one or more of the following organizations:  Accounting Society (713-743-4930), Beta Alpha Psi (713-743-4924), and National Association of Black Accountants (713-743-4326).  All of these organizations emphasize fellowship with other students and establishing links with the business community.  For more information on requirements and activities, call the organization or look for their booths at the beginning of the semester.  

 

Apply for a scholarship - Almost 300 students receive CBA scholarships per year.  Most scholarships require a minimum of a 3.0 GPA; however, need based scholarships have minimums as low as 2.0.  You may obtain an application in the Office of Student Services.  The application takes approximately fifteen minutes to complete.

 

Apply for an internship - The Rockwell Career Services Center maintains a database of business internships (see http://www.cba.uh.edu/cba/cscintrn.html).  If you accept an internship in accounting that meets specific requirements, you may be eligible for 3 hours of academic cr. 

 

Circulate your resume - When you have completed your resume, you should register your resume with the Resume Bank Program in the Rockwell Career Services Center. 

 

Register with University Career Services - Before you are allowed to make on-campus interviews, you must register and attend a workshop.  You should register as soon as possible in Room 106 of the Student Services Building. 

 

Investigate graduate school - Graduate school can provide excellent career opportunities as well as help you obtain the 150 hr. requirement necessary to take the CPA examination.  Information on the Masters of Science in Accountancy (MSAcct) and Masters of Business Administration (MBA) may be obtained from the Office of Student Services, the bulletin board outside of MH 370, or from the CBA web site (http://www.cba.uh.edu/cba/mast.html). 

 

Get ready for the CPA Examination - The requirements to take the CPA examination are very specific.  To become familiar with these requirements, request the pamphlet entitled “Examination Information for Prospective Texas CPA Applicants” from:

Texas State Board of Public Accountancy

333Guadalupe, Tower III, Suite 900  Austin Texas 78701-3900 

Phone 512-305-7870, Web Site http://www.tsbpa.state.tx.us/

 

            PROJECTED CLASS SCHEDULE

 

DATE

 

 

 

READING ASSIGNMENT

EXERCISES/

PROBLEMS

Aug.

22

W

Introduction & Chapter 1:  Business Combinations

Special Assignment

 

 

27

M

Chapter 1:  Continued

E1-1, 2, 5, 7, 8, 10

P1-3 & 6  OMIT ALL POOLING QUESTIONS

 

29

W

Chapter 2: Stock Investments

 

E2-1, 2, 5, 7

Sep.

3

M

Labor Day

Holiday!

 

5

W

Chapter 2:  Continued

P2-2 & 6

 

 

10

M

Chapter 3:  An Introduction to Consolidated Financial Statements

E3-1, 2, 5, 7

 

 

12

W

Chapter 3:  Consolidation After the date of Acquisition.

 

Special Assignment 2 Due

 

17

M

Chapter 3:  Consolidations, Continued

 

 

 

19

W

Chapter 3:  Continued, Ch 4

Special Assignment 3 (Pr. 1 & 2) Special Assignment 3 Due (Pr. 3 & 4)

 

 

Sep

22

Sat

Exam 1: Ch 1,2,3, and 4

 

 

24

M

Catch up

 

E4-1, 3, 5, 6, 11

P4-11

Special Assignment 4 Due

 

 

26

W

Appendix – Chapter 4:  Consolidated Statement Of Cash Flows

 

 

OCT.

1

M

Push-Down Accounting

 

 

 

3

W

Chapter 5:  Intercompany Profit Transactions-Inventories

E5-1, 2, 11, 13

 

8

M

Chapter 5:  Intercompany Profit Transactions-Inventories (Cont’d)

P5-3, 6

 

 

10
W

Chapter 6:  Intercompany Profit Transactions- Plant Assets

E6-1, 6, 7, 10

Special Assignment 5 Due

 

17

W

Chapter 7:  Intercompany Profit Transactions- Bonds

E7-1, 3, 8, 10

Special Assignment 6 Due

 

22

M

Chapter 7:  Intercompany Profit Transactions- Bonds (Cont’d)

P7-2, 3, 11

Special Assignment 7 Due

 

 

24

 

W

 

Chapter 7:  Intercompany Profit Transactions-Bonds (Cont’d.)

Special Assignment 8 Due

OCT.

27

Sat

EXAM II:  Chapters 5, 6 and 7

Prepare Well !!

 

29

M

 
Introduction to International Accounting

 

 

31

W

Chapter 13 and 14:  Foreign Currency Concepts.  Translation of Financial Statements

 

 

NOV.

5

M

Chapter 14:  Translation of Financial Statements (Cont’d)

 

E14-1, 2, 8, 11

P14-7

 

7

W

Chapter 13:  Accounting for Foreign Currency Transactions

E13-1, 3, 6, 9, 11

 

 

12

M

Chapter 13:  Accounting for Foreign Currency Transactions (Cont’d)

P13-1, 6

 

 

14

W

Chapter 16: Partnerships-Formation, Operations, & Expansion

 

E16-3, 4, 9, 18, 21

 

 

19

M

Chapter 16:  Partnerships-Cont’d.

P16-4, 6, 9, 10

 

 

21

W

Happy Thanksgiving!!

 

 

26

M

Chapter 17:  Partnerships—Liquidation, Contraction and Termination

E17-1, 3, 7, 14, 15, 16

P17-6, 7

Special Assignment 9 Due

 

 

28

W

Chapter 17:  Partnerships Liquidation (Cont’d)

Special Assignment 10 Due

 

DEC.

1

Sat.
EXAM III:  Chapters 13, 14 16 & 17

Prepare Well!!

 

 

STUDENT INFORMATION SHEET

 

Last Name:  __________________________________

 

Name to be called:  ______________________________

 

Student ID Number:  _______________________________

 

E-Mail Address: ____________________________________

 

Local Address:  _______________________________________

                          _______________________________________

 

Home Phone Number:  ___________________________

 

Currently Employed at:  __________________________

 

Work Phone Number:  ___________________________

 

How many hours per week do you work?  ________________

 

How many hours of classes are you taking this semester?  _________________

 

What are your career goals?  For example, do you want to work for a CPA firm, corporation, etc.? 

 

 

 

 

 

 

 

 

 

What are your major activities and hobbies? 

 

 

 

 

What country are you (or your family/ancestors) from?  (This will make the International Accounting part of the course very interesting).

 

 

 

 

NAME ___________________________________________

 

 

Read the following statements carefully, sign this page, and return it to your Professor. 

 

 

1.         I am aware of the ASSIGNMENT policy that requires me to be present at the beginning of class. 

 

 

2.         I am aware of the withdrawal policy and the policy for missed examinations and agree to adhere by these policies.

 

 

 

 

Name (printed) ______________________________________

 

Student ID                    ______________________________________

 

Signature                      ______________________________________