ACG3131 Fall 2019 sections 1,2 syllabus - amended 9 9 19 PDF

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UNIVERSITY OF CENTRAL FLORIDA Dixon School of Accounting – Intermediate Accounting I – Fall 2019 ACG 3131-0001 Tues/Thur 10:30 am Location: BA2-208 ACG 3131-0002 Tues/Thur 1:30 pm Location: BA2-208 Amended 9/9/19 Instructor: V. Scott Smith, MBA Phone: 407-823-1459 Office Location: BA1-325F

Email: [email protected] Class Web Page: https://webcourses.ucf.edu Office Hours: schedule posted on class webpage

Syllabus: The syllabus presented below represents the policy of the Dixon School of Accounting, therefore, all sections of 3131 Intermediate Accounting I have uniform syllabi requirements. Objectives: Students will gain a high level of understanding regarding specific financial accounting concepts, principles, and practices used in the accounting profession. Special emphasis will be on (1) increasing your technical knowledge of accounting measurement and disclosure, (2) developing a better understanding of how managements’ accounting choices affect financial statements, and (3) developing a better understanding of how creditors and investors interpret financial statement information in view of those reporting choices. Prerequisites: Junior standing, Accounting major or minor, ACG 2021 & ACG 2071 with a grade of “C” or better. Time Value of Money: You should have a basic working knowledge of time value of money including the ability to calculate present and future values of a lump sum or annuity. This material is typically taught in ACG 2071 and Business Finance. Admission Requirements for Accounting B.S.B.A. Program: 1) Completion of the UCF General Education program and Gordon Rule, or an AA degree from a Florida College System or State University System institution, and completion of each Common Program Prerequisite course with a “C” (2.0) or better. 2) Completion of the following courses at UCF or at an AACSB accredited institution: ECO 3411, MAR 3023, FIN 3403, MAN 3025, and ACG 3131, with a GPA of at least 3.0, A GRADE OF AT LEAST “B” (3.0) IN ACG 3131, and no grade below a “C” (2.0). ONE COURSE MAY BE REPEATED ONE TIME IN THE NEXT TERM OF ENROLLMENT TO MEET THESE REQUIREMENTS. DROPPING THE COURSE COUNTS AS ONE ATTEMPT. t h Ma t e r i a l s :Re q u i r e d–I n t e r me d i a t eAc c o u n t i n gb yKi e s o , We y g a n d t ,&Wa r fie l d , 1 7 e d i t i o n , a l o n gwi t ht h eo n l i n e Wi l e y Pl u ss y s t e m.

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UNIVERSITY OF CENTRAL FLORIDA Dixon School of Accounting – Intermediate Accounting I – Fall 2019 ACG 3131-0001 Tues/Thur 10:30 am Location: BA2-208 ACG 3131-0002 Tues/Thur 1:30 pm Location: BA2-208 Amended 9/9/19 Tutoring: There will be help in the Accounting Tutoring Lab (BA1- 355). Hours will be posted on Webcourses. Please note that students should make a reasonable effort on homework prior to seeking help from the tutors. Tutors should be used for assistance with specific questions or concepts, as well as review of exams. Tutors are not there to complete homework assignments for students. Additionally, the tutoring lab should not be used as a study or “hang out” area by students. Other required resources: An email address, internet access, EXCEL, WORD, calculator. Emailing the Instructor: Please DO NOT USE Webcourses to email the instructor. Webcourses email is not monitored and you will not receive an answer. Use [email protected] for all email correspondence. Please put ACG3131 in the subject line, and sign your full name and the class section, day, and time you are in. Class Notes, Problem Solutions, Lecture Notes: All class materials will be posted in Webcourses. You should access Webcourses on a continual basis to review and print out information to follow during the class lectures and for studying of the class material. To access Webcourses go to https://webcourses.ucf.edu. Class Announcements: Check the home page of Webcourses frequently for instructor announcements for this class. Method of Instruction: Class sessions will include lectures, problem solving, in class exercises and class discussion. Student participation in class has many benefits and is highly encouraged. Grades: Distribution of grades and the grading scale is listed below. Only plus grades are given; minus grades will NOT be utilized in this course. Evaluation: Grades will be based on a total of 1000 points as follows: Total Points % of Grade A Exam #1 CH 0,1,2,3 200 points 20% B+ Exam #2 CH 4,5 200 points 20% B Exam #3 CH 7,8,9 200 points 20% C+ Exam #4 CH 10,11,12 200 points 20% C Wiley Plus Homework 200 points 20% D Total Points 1000 points F

900-1000 points 880-899 points 800-879 points 780-799 points 700-779 points 600-699 points Less than 600 points

Attendance and Participation: It is expected that you will attend class. If you miss a class, the instructor will not “reteach” you the material outside of class. Class is only taught once and you are expected to be there. Please be advised that students who do not attend class frequently fail this course. You are encouraged to ask questions because this is a critical skill required in business. There are no “dumb” questions. If you are questioning something, no doubt someone else in the class has the same question but is just hesitant to speak up. Time Required for this Course: It is a general rule-of-thumb that the average University course requires a minimum of two hours study time in preparation for each hour of class time (i.e., in addition to class time). Since this class meets for 3 hours a week, plan for a MINIMUM of 6 hours of study time a week outside of class. However, accounting courses may require more study time than other University courses. Accounting is a cumulative discipline so it is imperative that you stay on top of the material and assignments. This class is a prerequisite to ACG 3141 and you need to learn the concepts in this to provide a foundation for all your upper level accounting courses and to be successful in the professional world. “Cramming” for exams is NOT a strategy that will work in this class. If you are not willing or able to do this work, then you should consider whether this is an appropriate time to take this course. Most students underestimate the time and effort required to be successful in this course. Intermediate Accounting I

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UNIVERSITY OF CENTRAL FLORIDA Dixon School of Accounting – Intermediate Accounting I – Fall 2019 ACG 3131-0001 Tues/Thur 10:30 am Location: BA2-208 ACG 3131-0002 Tues/Thur 1:30 pm Location: BA2-208 Amended 9/9/19 Maximizing Your Learning Experience: In order to master the material in this course, it is suggested that you:  Be prepared to improve your study habits from the first day of the course  Read the chapter carefully before the first lecture on the topic  Dedicate the required time to complete the assigned homework for each chapter by the due date.  Download and review the lecture slides  Attend each class, ask questions, and participate in any in-class exercises  Work non-graded practice work recommended by the instructor  Re-read the chapter as many times as needed to understand the material  Re-work in class examples and study supplemental materials posted on Webcourses by your instructor  Work in small groups to complete homework and study for the exams  Visit the accounting tutoring lab for help  Practice as many problems as you can trying to understand “why” – don’t memorize Please note that a grade of a “B” or above is necessary in order to continue into other accounting courses and to count toward graduation for an accounting major. In addition, you may only retake this class once for any reason. Faithful attendance, adequate preparation, active participation, and completion of in-class exercises are expected of all students. Most students underestimate the time and effort required to be successful in this course. If you are not willing to spend this time or other commitments (class, personal or work) do not permit this type of commitment, you need to evaluate whether this is the appropriate term to take this course. Another key element of succeeding in this course is assessing your level of preparation at the start of the term. You have taken Principles of Financial Accounting as a prerequisite. Students can face challenges if they took 2021 a long time ago, had an online course, or had an easy teacher. If you suspect you may not be prepared for this course, think carefully about registering for this class. You always have the option of retaking 2021 at UCF and then taking this class. At a minimum be prepared to spend extra time on Chapter 0 & 3 to reinforce basic accounting concepts if you suspect your preparation level is weak. Exams: Exams will be given in the College of Business Testing Lab located in BA-II, Room 104. The lab is a flexible testing environment that allows you to take the exam in the testing lab anytime during a scheduled time range for that particular exam. The schedule for each exam is listed on the class schedule near the end of the syllabus. You will be allowed a fixed time to complete each exam. Please note that each student will be required to present a valid UCF Student ID in order to enter the lab. They will NOT accept driver’s licenses as a form of ID. Students should be advised that the Testing Lab will not remain open after closing hours for the amount of time remaining on their exam. For example, if a student starts a two hour long exam on Thursday evening at 11:00 pm, then he or she must leave at midnight, which is the scheduled lab closing time, to allow for computer updates and lab/facility maintenance. Makeup Exam Policy: If you must miss the scheduled testing window please obtain an excuse ahead of time from the instructor. Excuses will only be granted for extremely important circumstances where documentation can be provided. If you have a sudden illness that prohibits you from taking an exam you must have a valid note from your doctor or the school clinic as proof. If you are very ill and take the exam, do not expect the instructor to make an adjustment to your grade or let you take a makeup if you do poorly. You are better off to see a doctor or go to the clinic and get an excuse from taking the exam at the regular time. Students are responsible for keeping track of the testing period and showing up at the right time. If an exam must be missed and the absence is excused by the instructor ahead of time, then you will be given a makeup exam. YOU MUST PROVIDE WRITTEN PROOF TO BE EXCUSED FROM TAKING AN EXAM DURING THE NORMAL CLASS TESTING PERIOD. Exam Materials: You may bring a non-graphing calculator with you to each exam. A calculator is the only aid you may bring into an exam. NOTECARDS ARE NOT PERMITTED!!!! You MUST bring a calculator to each exam. Intermediate Accounting I

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UNIVERSITY OF CENTRAL FLORIDA Dixon School of Accounting – Intermediate Accounting I – Fall 2019 ACG 3131-0001 Tues/Thur 10:30 am Location: BA2-208 ACG 3131-0002 Tues/Thur 1:30 pm Location: BA2-208 Amended 9/9/19 HP10BII Calculators are permitted. The lab will provide scratch paper. Students are not permitted backpacks, food, books, laptops etc. in the Testing Lab. Students may store their personal belongings in the pay-for-use storage lockers that are located in BAII 105. Cell Phones in the Testing Lab: Cell phones should not be brought out into the open in the Testing Center. If a student is caught with a cell phone out of their pockets in the Testing Center, they will be immediately escorted from the Testing Center and their exam submitted as is. If a cell phone causes a disturbance in the Testing Center by ringing, vibrating, dinging, etc., the student will immediately be escorted from the Testing Center and their exam submitted as is. Please be sure to put your phone in “do not disturb mode”. Often shutting off the ringer does not always disable alarms or texting sounds. ANY audible sound emitted from your cell phone during a test will result in your test being closed and submitted “as is”. For complete information regarding the testing lab policies and procedures you go to the following website: https://business.ucf.edu/centers-institutes/keon-testing-center/. You may look up

scheduled exams for any class at: https://www.coba.it.ucf.edu/exams/ Cheating: Use of any item in the testing lab other than those listed above is not allowed and will constitute cheating. Accessing any internet resource, including class notes is also considered cheating. Providing information to other students regarding exam questions and answers prior to the end of the testing date is not allowed and is also considered cheating. PLEASE NOTE YOU ARE NOT PERMITTED TO BRING A NOTECARD OR ANY OTHER MATERIALS INTO THE TESTING LAB. IF THE LAB PERSONNEL DETECT THESE MATERIALS, THEY WILL CLOSE YOUR EXAM, ESCORT YOU FROM THE LAB AND REPORT THE CHEATING INCIDENT TO YOUR PROFESSOR. LIKELY CONSEQUENCES WILL BE A ZERO ON THE EXAM, F IN THE COURSE AND REPORTING THE INCIDENT TO THE OFFICE OF STUDENT CONDUCT. WileyPlus Homework: The completion and comprehension of homework problems is critical to your success in this course. The role of homework is to assist you in the learning process and help identify areas where you need additional assistance. Homework will be completed using WileyPLUS online homework system. At the end of this syllabus, you will see a schedule for each chapter showing WileyPlus homework assignments and recommended practice work. You must complete each WileyPlus homework assignment by the due date in order to have the chance to receive full credit for that assignment. If you do not complete the assignment by the due date, you do have the option to complete an assignment after the due date, with a penalty of 50% deducted from your earned score. The last day you will be able to work on any assignment in WileyPlus will be December 9. Remember that in this class every point counts, so working your homework late for partial credit is NOT recommended. Wiley Plus homework will count a total of 200 points in the final grade distribution as outlined in this syllabus on page 2. Your grade for Wiley Plus will be based on the ratio of points completed successfully in Wiley to the total points assigned in Wiley. For example if you score 400 points of 500 points for all required assignments in Wiley, you will receive credit of .80 x 200 = 160 total class points for Wiley in your overall grade calculation. Recommended Practice Work: You will need to complete practice work beyond the graded assignments in this class in order to achieve a good grade. You can expect to see material from the practice work on the exams. Students MUST work the following practice work to help achieve mastery of the topics in this class: 1. Practice Quizzes available in Webcourses for chapters 3-12. 2. WileyPlus Practice Assignments – these are assignments similar to the graded assignments, but are only for practice and are not part of your grade. 3. CPA Exam Questions – these are practice assignments in WileyPlus that contain several CPA exam questions per chapter. Intermediate Accounting I

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UNIVERSITY OF CENTRAL FLORIDA Dixon School of Accounting – Intermediate Accounting I – Fall 2019 ACG 3131-0001 Tues/Thur 10:30 am Location: BA2-208 ACG 3131-0002 Tues/Thur 1:30 pm Location: BA2-208 Amended 9/9/19 4. Additional help in WileyPlus - WileyPlus contains a great deal of additional resources to assist students. You should look through the “Resources”, “Practice”, and “Explore” sections under each learning objective to access this content. Applied Skills Video Assignments: WileyPlus has video assignments for most chapters that students should view prior to doing their homework and practice. These are excellent resources for learning the material Assistance: If you have any questions on WileyPlus homework, practice assignments, and the webcourses practice quizzes, help is available in the Accounting Tutoring Lab. Help is also available by emailing the tutors at:

UCFWi l e yQue s t i ons @gma i l . c om During Mon-Thursday this is monitored during lab tutoring hours. It is also monitored periodically on weekends. If you are working on a problem and can provide a screen shot that is helpful. Also mention your professor’s name in the email subject line. In Class Examples: Your instructor will cover numerous in class example problems. It is highly advised that you study these materials carefully in your preparation for this course. Laptops/Cell Phones: If a student uses a laptop or their cell phone in class, the student does so with the understanding that the instructor reserves the right to view the work performed on the laptop/cell phone during class sessions. Any student that causes a distraction in the classroom by use of their laptop will be asked to remove the laptop from the classroom. Use of your laptop for surfing the net, messaging, etc. is considered disrespectful, disrupting to others and students doing so may be asked to leave the class. Late Withdrawal: The withdrawal date for fall semester is Friday, November 1, 2019 at 11:59 pm. If a student fails to withdraw by the withdraw date, students should refer to the university catalog for criteria in which a late withdrawal may be appropriate. Please note that there must be extraordinary circumstances or a medical reason for a late withdraw. Poor performance or the student taking too many classes is not an extraordinary circumstance. The instructor does not have the power to grant a late withdrawal. Extra Credit: You have the opportunity to earn up to 10 points extra credit for ACG 3131 through the completion of a WileyPlus boot-camp. The extra credit questions for the boot-camp must be completed by 11:59 PM on September 1 st (the first Sunday of the semester immediately following the drop/add period) and requires spending 4 - 8 hours on the learning content, practice questions, and completing the extra credit work. You will not receive any extra credit if you do not complete the work by the due date, regardless of when you have registered for the course. Completing the WileyPlus boot camp work for extra credit does ...