Course Syllabus

AMIS 521

COURSE SYLLABUS
Autumn 2009

Larry Tomassini

NATURE AND PURPOSE OF THE COURSE

AMIS 521 is the first of a three-course sequence in financial accounting and reporting at the intermediate level. In these courses, you learn the subject in much more depth than in an introductory level course, and you cover several new topics as well. The courses examine conceptual underpinnings of accounting, as well as accounting standards and practical applications. In this way, you will build a strong understanding of WHY accounting is done, as well as HOW it is done. This is quite important for those who provide or use accounting information because the field is constantly changing. In such an environment, only learning the rules (i.e., HOW) is futile, if not dangerous.

In 521, we focus on understanding the FASB conceptual framework, the regulation of accounting standards globally as well as in the United States, the role of accounting disclosures in capital markets, and the measurement and reporting for revenues, cash flows, receivables, current and contingent liabilities, and accounting changes.

ACADEMIC INTEGRITY

As a member of the Fisher College of Business Community, I am personally committed to the highest standards of behavior. Most students have high standards and behave honorably. However, like every academic institution, we encounter cases of academic misconduct. It is the obligation of students and faculty to report suspected cases of academic and student misconduct. Students can report suspected violations of academic integrity or student misconduct to faculty or to Associate Dean Unnava. All reported cases of academic misconduct are actively pursued, and confidentiality is maintained.

USE OF ELECTRONIC COMMUNICATION

We will make regular use of electronic communication in this course. I will use CARMEN to send class announcements, post assignment materials, class notes, important web links, and other important course resources. I encourage you to make use of e-mail when it is effective and efficient for you to do so. I expect you to check your e-mail and the course web site daily to keep up with the course.

Because my OSU e-mail account is loaded with SPAM, I have set up a special mail account to avoid missing your messages to me. Please use only the following account in sending me messages: amis521@gmail.com

EXAMS

There are three scheduled exams in the course, including two midterms and a final. See the COURSE ASSIGNMENT SCHEDULE for the dates. The midterms will be closed book exams, lasting 105 minutes each. For each exam, I will post a study sheet on Carmen. The study sheet will describe exam coverage and structure, and will give some tips for review and preparation.

The final exam will consist of two parts. The first part will be distributed before Thanksgiving and will be due by 12:00 noon on November 29. Class will not be held on Wednesday, November 25 to compensate for the out-of-class portion of the exam. The second part of the exam will be on Monday, December 8 and will be closed book and comprehensive in nature. It will include applying what you have learned to some financial information taken from real company reports.

No make-up or separately scheduled midterms are provided in this course. If you are excused from a midterm exam for a personal illness or a death in your family, your score on the final exam will be weighted doubly in computing your final grade. You must present me with sufficient documentation so that I am able to determine if your absence from the midterm is excused. If you are ill, please see a doctor so that you can verify you were unable to take the exam at the scheduled time. I will not excuse students for other reasons.

GRADES

Your overall performance in the course will be weighted as follows:

Exams: 300 points each
Online Graded Quizzes: 100 points total (average of highest six quiz scores are counted)

Final grades, based on the weighted averages of the above components will be based on the following scale:

A: 900 points or above

A-: 870-899 points

B+: 840-869 points

B: 800-839 points

B-: 770-799 points

C+: 740-769 points

C: 700-739 points

C-: 670-699 points

D+: 640-669 points

D: 600-639 points

E: Below 600 points

These grade cutoffs are strictly and fairly applied to everyone. Do not anticipate any "curve" to be applied to final scores, nor are any additional points available for extra credit, except for the participation bonus, discussed below.

Active participation is important and encouraged in this course. Attending class regularly is necessary, but not sufficient to be praiseworthy. You should volunteer relevant comments during class discussions and be prepared to answer questions when I call on you. If, at the end of the quarter, I judge your overall contribution to the class discussions to be exemplary, you will be eligible to get a bonus whereby your final grade is raised by one mark (e.g., B+ to A-). This is inherently a subjective matter, and my judgment about it is final. The best way to earn this bonus is to do each daily assignment in advance and be prepared to offer answers and insights when we discuss the assignment in class.

ASSIGNMENTS AND PRACTICE

Regular assignments for the course include:

Class preparation
Problem solving practice
Online quizzes in Homework Manager

The CLASS ASSIGNMENT SCHEDULE for the course provides detailed information about topical coverage. Readings are from the Spiceland textbook and other supplementary articles. You are expected to have studied the assigned materials for each day in advance of coming to class. This allows you to get the most out of our class sessions and be prepared to contribute your fair share to in-class discussions. I may call on students to answer certain questions as part of the daily discussions.

"Practice makes perfect" is not just a slogan. As in sports or other pursuits, consistent and thorough practice is the key to success in an accounting course. There are plenty of practice opportunities here. I recommend that you routinely practice with brief exercises at the end of each text chapter. Material in the Alternate Exercises/Problems link on the SST text website, as well as quiz and self-test materials there, are valuable for extra practice and exam preparation. Solutions for these items are available on the Carmen site.

I also will provide a series of problem-solving assignments for you to practice, using the McGraw-Hill Homework Manager system. Our Homework Manager site is: http://mh2.brownstone.net/classes/AMIS521tomassini/. I provide a link to it on the course assignment sheet. I will discuss this process during our first class session. You are able to get immediate feedback on these practice sets so that you can assess your learning and take corrective action, where necessary, in your study.

On Thursday of most weeks, you are required to submit your answers to a take-home quiz, also provided through the Homework Manager system. Pay close attention to the quiz deadlines, as no exceptions will be made to them. There are seven such quizzes given in the course. Of these, your best six scores will count in that portion of your final grade, which represents 10% of your overall performance score.

CONSULTATION

You are encouraged to consult with my TAs or me about course matters. I am available for individual help sessions during scheduled office hours on Tuesday and Thursday from 2:30-4:00 PM in Fisher 458. If there are multiple students waiting, I will limit your visits to 15 minutes each.

Also, you are welcome to make an appointment to see me at other times, or to contact me through e-mail at mailto:amis521@gmail.com. I am very good about returning e-mail messages quickly. I strongly prefer that you use e-mail rather than voice mail for this purpose.

Marina Gidalevich and Mandy Michel, both students in the Accounting Honors program, are my TAs this quarter. They will be available to assist students with questions in 311 SB (Honors Lounge) at the following times:

Tuesday: 11:30 AM-1:30 PM; Wednesday: 9 AM-1 PM; Friday: 10 AM-12 noon.

STUDENTS WITH DISABILITIES

If you need an accommodation based on the impact of a disability, you should contact me to arrange an appointment as soon as possible. At the appointment we can discuss the course format, anticipate your needs and explore potential accommodations. I rely on the Office for Disability Services for assistance in verifying the need for accommodations and developing accommodation strategies. If you have not previously contacted the Office for Disability Services, I encourage you to do so.

REQUIRED COURSE MATERIALS