Advanced Spring 2021 PDF

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Syllabus for advanced accounting- includes assignment dates, hw's and schedules...

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University of Houston Department of Accountancy & Taxation ACCT 7330/5330/4330 Advanced Accounting Spring 2021 Instructor: Dr. Vinita Ramaswamy [email protected] Email: Office hours: T Th 3 – 5 on Zoom. Please email me to make an appointment before coming so that I am sure to be available. Zoom link will be provided on Blackboard COURSE PREREQUISITES You must have junior standing and have passed ACCT 5368 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 • • •

th Advanced Accounting, 4 Edition, by Susan S. Hamlen, ISBN: 978-1-61853-261-9 Copyright 2019 Access to mybusinesscourse from Cambridge Publishers. The website will be available on Blackboard. Please use the link provided on Blackboard to register for mybusinesscourse. There is no separate course code. Index cards (4x6); Green Scantrons

GRADES Final grades will be based on a University approved grading scale: 90=A; 87=B+; 80=B; 77=C+; 70=C; For graduates: Below 70 F; For Undergraduates: 67=D+; 60=D); below 60=F. CLASSROOM EXPECTATIONS This fall session will be conducted as a synchronous, online class. Please behave courteously online as you would in a face to face class. Furthermore, recordings of any fashion are not allowed without the written consent of the professor. Special Policies for the online class: 1. This is a synchronous class – we will meet online every Tuesday or Thursday from 6 pm – 9 pm. 2. I use the flipped class model. I have posted class lectures on Blackboard. I assume that you will watch those lectures before coming to class. This way, class time can be spent more productively working out problems and answering questions. 3. There is a participation grade (5%). I will take attendance; there will be poll questions and or break out sessions through the class and participation is important. 4. Examinations will be online through Blackboard. I will be using the Respondus Monitor proctoring system. You need a camera on your computer to take the exam. Please make sure that your computer comes equipped with a camera. This is REQUIRED

Academic Honesty: The University of Houston Academic Honesty Policy is strictly enforced by the C. T. Bauer College of Business. No violations of this policy will be tolerated in this course. A discussion of the policy is included in the University of Houston Student Handbook, http://www.uh.edu/dos/hdbk/acad/achonpol.html. Students are expected to be familiar with this policy. Cheating in any form or fashion will result in an “F” for the course. Accommodations for Students with Disabilities: The C. T. Bauer College of Business would like to help students who have disabilities achieve their highest potential. To this end, in order to receive academic accommodations, students must register with the Center for Students with Disabilities (CSD) (telephone 713-743-5400), and present approved accommodation documentation to their instructors in a timely manner. Calculator Policy: You must use simple, four function 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. Daily Assignments: You are expected to do all the homework/quiz assignments listed in this syllabus. 1. You must complete the homework on mybusinesscourse on the date(s) stipulated in the syllabus. An assignment submitted after the stipulated due date will be penalized two (2) letter grades for one week after it is due. After that, submissions will not be accepted. You have unlimited number of attempts for the homework. The highest grade will be taken into account for calculation of the final grade. 2. You must complete the quizzes on mybusinesscourse on the dates set out in the syllabus; if the date changes, an announcement will be sent to you via blackboard. An assignment submitted after the stipulated due date will be penalized two (2) letter grades for 48 hours after the quiz is due. After that, submissions will not be accepted. You are allowed two attempts per quiz. The highest grade will be taken into account for calculation of the final grade. Important Dates: First day of classes: January 18 (Tuesday)/January 20 (Thursday Last day to add classes: January 26 (Tuesday) Last day of classes: May 3 (Monday) WITHDRAWAL POLICY February 3 (Wednesday): Last day to drop a course without hours counting towards the Enrollment Cap for Texas Residents. April 6 (Tuesday):Last day to drop a course or withdraw with a 'W'.

Mission of the Department of Accountancy and Taxation • Prepare accounting graduates for leadership roles in the accounting profession; • Conduct research that advances the body of accounting knowledge, and inevitably has implications on accounting practice; • Perform service that leads to the efficient and effective practice of accounting. Objectives of the Department of Accountancy and Taxation • Prepare its undergraduate students for graduate education or productive careers by establishing the foundations for life-long learning; • Prepare its master-level students for positions of leadership in the accounting profession; • Prepare its doctoral students for successful careers in accounting education and research. Class Objectives: Knowledge: Students will acquire an understanding of intercompany investments, consolidation of subsidiaries, foreign currency transactions, foreign currency translations, derivatives and hedges, and accounting for partnerships Critical Thinking: Students will apply the concepts of critical thinking in using accounting information: identify and define problems, use information appropriately, prepare an appropriate solution. Self-regulated learning: Students will be responsible for: setting their goals for the class, devising strategies to study, self-monitoring areas of weaknesses and reflecting on the outcomes. Class Activities and Objectives: Activity Pre-class videos In class problems Review videos Homework Quiz Extra credit Exams Tutoring (available outside class)

Objective Introduce topics Advanced work out problems/answer questions, concerns Provided for some chapters for review Reinforce topics learned in class through problem solving Test conceptual understanding of topics To look at the real world applications of topics learned in class To test knowledge, application and understanding of the processes and concepts To reinforce and aid in understanding topics learned in class

Participation grade will be based on class polls, mini quizzes and submitted class note taking (when asked for).

Projected Class Schedule (subject to change) Date Date Chapter Assignments Tues Thurs Please be sure to watch the pre-class videos for each chapter BEFORE coming to class. Jan. 19 Jan. 21 Chapter 1: Intercorporate Investments Chapter 1 HW/Quiz Due Jan. 24 Jan. 26 Jan. 28 Chapter 2: Mergers and Acquisitions Chapter 2 HW/Quiz Due Jan. 31 Feb. 2 Feb. 4 Chapter 3: Consolidated Financial Chapter 3 HW/ Quiz Due Feb. 7 Statements – Date of Acquisition None Feb. 9 Feb. 11 Chapter 4: Consolidated Financial Statements – Subsequent to Acquisition Feb. 16 Feb. 18 Exam 1: Chapters 1 – 4 (20% of grade) Extra credit available on mybusinesscourse

Feb. 23

Feb. 25

Mar. 2

Mar. 4

Mar. 9

Mar. 11 Exam 2: Chapters 5, 6 (25% of grade)

Mar. 16 Mar. 23

Mar. 18 Mar. 25

Mar. 30

Apr. 1

Apr. 6

Apr. 8

Apr. 13

Apr. 15

Apr. 20

Apr. 22

Week of April 26 TBA

TBA

Chapter 5: Consolidated Financial Statements – Outside Interests Chapter 6: Intercompany Transactions

Spring Break Chapter 7: Consolidating Foreign Currency Financial Statements Chapter 8: Foreign Currency Transactions and Hedging Chapter 8: cont’d Chapter 9 : Futures, Options and Interest Rate Swaps Chapter 9: cont’d Chapter 14: Partnerships. Self Study module with quiz (5% of grade) Final Exam: Comprehensive (25% of grade)

Chapter 5 Quiz Due Feb. 28 None

Chapter 7 HW/ Quiz Due Mar. 28 None Chapter 8 HW Apr. 11 None Chapter 9 Quiz Due Apr. 25 Chapter 14 Quiz Due May 2

NOTE: All exams must be taken at the scheduled time for your class. If you have a University excused conflict, you may take the exam at the alternate time. You need to provide advance notice and adequate documentation All HW and Quizzes are available on mybusinesscourse. The Solutions Manual and notes for each chapter will also be uploaded on mybusinesscourse. All HW and Quizzes are available on mybusinesscourse. The Solutions Manual and notes for each chapter will also be uploaded on mybusinesscourse. The class lecture videos are available on Blackboard.

Instructor Commitment: 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. Grading policy/philosophy: Your final grade will be based on a weighted average as follows: Exam 1 Exam 2 Self Study Final HW Quizzes Participation

20% 25% 5% 25% 10% 10% 5%

Sample grade calculation: Here is an example of how your final grade will be calculated. Assume the following grades on exams, homework, and quizzes Exam I: Exam II Self-study module Final Homework Quizzes Participation Total

90 88 90 80 100 90 100

x .20 x .25 x .05 x .25 x .1 x .1 x.05

= 18.0 weighted = 22.0 weighted = 4.5 weighted = 20.0 weighted = 10 weighted = 9.0 weighted = 5.0 weighted = 88.5

This will give you a B+ grade for the class Each exam will have an extra credit opportunity (for 5 points). The extra credit will be due on the day of the exam before the exam starts. I do NOT take late submissions for extra credit. You are required to take all three exams. Your grade will reflect your performance during the entire semester, and your learning and understanding of every chapter.

Exam Options: To help you understand the material better, and to perform better in class, you have the following exam options: 1. Exam 1 will be the same for everyone. 2. For Exam 2, you have the following options: a. If you are happy with your grade for Exam 1, you can take Exam 2 covering only Chapters 5 and 6 b. If you are not happy with your grade for Exam 1, you can take the comprehensive second exam covering chapters 1 - 6. IF THE GRADE FOR COMPHREHENSIVE EXAM 2 IS HIGHER THAN EXAM 1, I WILL REPLACE THE EXAM 1 GRADE WITH THE EXAM 2 GRADE. If it is lower than the Exam 1 grade, then I will take BOTH grades into account. Exam 1 grade cannot replace Exam 2 grade 3. IF YOU DID NOT CHOOSE COMPREHENSIVE EXAM 2, for the Final Exam, you have the following options: a. If you are happy with your grades for Exam 1 and 2, you can take the shorter final exam, covering only Chapters 7, 8 and 9. I will take into account the grades for all exam while calculating the final grade. b. If you are not happy with your grade for Exam 1 and/or 2, you can take the comprehensive final exam covering ALL chapters. IF THE GRADE FOR THE FINAL IS HIGHER THAN ANY OTHER GRADE, I WILL REPLACE THE LOWEST MIDTERM GRADE WITH THE HIGHER FINAL GRADE. If it is lower than the mid terms, then I will take all three grades into account. The mid terms cannot replace the final grade. During the semester, you can choose to do ONE comprehensive version (option 2 OR 3). For example, if you choose comprehensive Exam 2, you will not have the option to do the comprehensive final. Please remember, the material gets progressively more difficult. There will be minimal “rounding up” for the final grade. Please remember, this is an advanced accounting class. You should all have gone through several accounting classes before coming here. As such, the level of knowledge and comprehension expected of you is at a higher level as well. You are also getting ready for the job market and the CPA exam. Therefore, the grading (for example, partial credit and error carryovers) will reflect this expectation....