CORE CONCEPTS OF ACCOUNTING INFORMATION

    Instructor: Theodore J. Mock (AKA: TMock )

Office Hours: M & W     9:00-10:00 And 2:00 – 4:00

Office Location: Acc. Rm.: 119

Office Phone: (213) 740-4861

E-Mail Address: tmock@sba2.usc.edu

Class Web Page Addresses:

     Spring ’98: http://www-rcf.usc.edu/~mock/

Fall ’98: http://Marshallinsider.usc.edu/mock

This is the second-half of a two-semester introductory accounting course. Accounting has often been called "the language of business." Core Concepts of Accounting Information will help you begin to understand and communicate in this language. The course will also help you gain an appreciation for the uses of accounting information and the limitations inherent in accounting information. Finally, the course will help you learn about the nature and responsibilities of careers in the accounting profession.

Upon completion of Core Concepts of Accounting Information, you should:

I. Have a general understanding of the role of the accounting profession in society, including: (a) an awareness of the process of regulation and self-regulation of the profession (including the standard setting process) in the United States, and (b) the increasing internationalization of accounting.

II. Have a basic understanding of how accounting is used in business, including an appreciation of the role of financial accounting, managerial accounting, systems, tax and auditing/assurance.

III. Have an introductory knowledge of how to use the available tools of accounting --including such tools as the professional literature, research literature, databases, and computer software --to help clarify accounting concepts and issues, analyze options, and make decisions or solve problems.

IV. Become aware of the importance of ethics and values, communications skills and interpersonal skills in dealing with accounting issues and begin to develop skills in these areas.

V. Have an understanding of how business transactions are recorded in accounting records and how these records are then used for decision making and reporting purposes.

Core Concepts of Accounting Information is a two-semester course, with each semester worth 4 credits. BUAD 250A is a prerequisite for BUAD 250B.

The format of the course consists of two 100-minute class meetings per week, with class sizes of approximately 42 students per section. Your regular class meetings will involve a variety of teaching methods from lecture to class discussion of cases and problems to role playing and simulation exercises.

Core Concepts of Accounting Information consists of two major themes in each semester. The BUAD 250A semester begins with a broad overview of the uses of accounting information in decision making and ends with accounting issues concerning income and cash flows. The BUAD 250B semester begins with a consideration of accounting issues involving economic resources and ends with a consideration of accounting issues involving capital.

In each theme, issues are considered from a variety of users' viewpoints. Each theme will include: (1) perspectives from the different functional areas in accounting; (2) a focus on analytic and problem-solving skills; (3) technological skills and communication skills development; (4) awareness of ethical issues and public policy issues; and (5) examples from a wide variety of business organizations--including government, multi-national, non-profit, manufacturing and service organizations.

Course Materials

The required texts for BUAD 250B regular class meetings are:

Core Concepts of Accounting Information: Theme III--Accounting Issues Involving Economic Resources, by Karen V. Pincus, McGraw-Hill: 1998-1999 annual edition.

Core Concepts of Accounting Information: Theme IV--Accounting Issues Involving Capital by Karen V. Pincus, McGraw-Hill: 1998-1999 annual edition.

1. Selected Chapters from Financial Accounting, 4^th Edition by Michael A. Diamond, ITP Custom Publishing.

b) You are advised to obtain a "UNIX" account by purchasing the UNIX Primer guide from the bookstore. (The application for the "UNIX" account is in the back of the guide.)

c) You will also be expected to keep up with accounting articles in a major business periodical. (Your instructor will have student discount subscription forms available on the first days of class.)

BUAD 250B Grading: Assignments, Peer Evaluations, Individual Participation and Examinations

Your performance in BUAD 250B will be evaluated based on graded assignments, individual participation and examinations as shown below:

Graded assignments 390 points

Theme III peer evaluations (individual contributions to group) 25 points

Theme IV peer evaluations (individual contributions to group) 25 points

Individual participation 140 points

Mid-term (Theme III) examination 210 points

Final (Theme IV) examination 210 points

Total available 1,000 points

Final letter grades will be determined based on a curve with a G.P.A. that approximates 2.7. See http://www-rcf.usc.edu/~mock/ for last semester’s distribution.

Assignments. A typical week's assignments will include:

Background reading. Each course module contains readings about accounting concepts and issues, including examples from the business and financial press illustrating these concepts and issues in real companies.

Homework cases and problems. You can't learn about accounting simply by reading; you need to grapple with the issues and the numbers yourself to really understand the concepts. So, you should expect to have case and problem assignments every week. Some of the cases and problems are for self-study; solutions are provided. Some of the cases and problems will be important preparation for the class discussions (which affect your individual participation points). Some of the assignments will be small group assignments (a number of these assignments will be graded); others will be individual assignments.

Aids to help you answer the questions raised by the cases and problems. These aids may take many forms. Often, there will be a list of hints to help you get started. Sometimes, there will be supplemental readings such as excerpts from official pronouncements in accounting or an article from the financial press or an accounting journal. Other times, the aids will direct you to one of the campus or local libraries to use computer data bases or other reference materials to find the information you need to help you develop solutions to the cases or problems.

Graded group and sub-group assignments account for 39% of the course points. The graded assignments involve both technical aspects and judgment aspects. Consequently, the grading of these cases and problems has both objective and subjective components. The BUAD 250 instructors are committed to providing you with adequate feedback on subjective components of your grades. Thus, for example, when you hand in a written analysis of a case, you can expect to get back written comments, as well as a grade. Additional feedback from your instructor is always available through consultations during scheduled office hours.

Peer Evaluations. Employers who recruit new hires from college campuses seek students who have developed small group skills for the work place. Your group's grade depends on each member's efforts. Fifty points (5% of the total course points) of your course grade will be based on your individual contribution to your group. Your instructor will solicit peer evaluations from your group concerning your contribution to the group's efforts.

Individual Participation. Individual participation accounts for 14% of the course points. The primary goal of the individual participation portion of the grade is to reward you for your individual contributions to the learning environment in the classroom. The individual participation component of the course includes the folowing components:

1. Class participation                                30 points

2. "3 Min. Quizzes" which are based on        100 points

daily class assignments and are intended

to measure level of student preparation,

3. Presentation of one major segment        10 points

of a group project.

One thing that can distract from class discussions is disruptive or other inconsiderate behavior when any class participant (students, guests or faculty) is participating or is presenting materials. Please be considerate of others so that all of the class can be heard and will be encouraged to participate.

Examinations. The two theme examinations account for 42% of the course points. The content of these exams is drawn from the course texts, handouts and lectures. The exams will be a mix of objective and subjective components--details about the format will be announced in classes near the exam date.

Because of the commitment to providing you with adequate feedback and the large numbers of students taking this course (the enrollment in BUAD 250A/B is well over 400 students per semester), you should not expect instantaneous grading of your mid-term exam. Grades on your mid-term should be available, however, by two weeks after the mid-term date.

Final exams, which must be graded quickly due to the need to report grades to the University, are not generally returned to students. Consequently, these exams will be graded without taking the substantial additional time to provide written feedback on subjective questions. Should you have any questions about your final exam grade, request an appointment with your instructor to review your exam in the first month of the following semester.

Make-up Exam Policy: It is to your advantage to take all exams at their scheduled times. Only in the case of a well-documented true emergency should an exam be missed. Please be sure to get your instructor's prior approval. Exams missed without the prior approval of an instructor or without adequate documentation of the reason for missing the exam will result in a recorded grade of zero for the missed exam. If the mid-term exam is missed with prior agreement and adequate documentation, the grade obtained on the final exam will automatically be substituted for the missed exam as well. All students must take the final exam as scheduled unless an incomplete contract has previously been approved according to Leventhal School of Accounting regulations (see School of Accounting standards at the end of this syllabus).

Academic Integrity

Ethics and values are very important in accounting and the world of business, non-profit and government organizations. We will consider ethical issues in accounting throughout this course.

Ethics and values are also important in education. Instructors will assume, unless there is evidence to the contrary, that you are an ethical student. To help you fulfill your ethical responsibilities as a student, the ethical standards for BUAD 250 are listed below.

Graded group assignments: All work is to be performed exclusively by the members of the group and all group members must contribute their fair share to each assignment. If outside research is performed, sources are to be cited and information discovered via outside research is to be clearly labeled as such. If outside research is performed, the products of your research are not to be shared with any student who is not a member of the group.

Graded sub-group assignments: All work is to be performed exclusively by the members of the sub-group and all sub-group members must contribute their fair share to each assignment. If outside research is performed, sources are to be cited and information discovered via outside research is to be clearly labeled as such. If outside research is performed, the products of your research are not to be shared with any student who is not a member of the sub-group.

In-class quizzes and examinations: All exams must be the exclusive work of the individual student. No student may share the quiz or exam contents with another student before or after the exam until the grading has been completed.

If you know that another student is violating these standards: Allowing another student to obtain course points by deceit contributes to a general lowering of the ethical standards of the University and contributes to deception of potential employers and other academic institutions. Thus, you have an obligation to take some action when you know another student is violating the course's academic integrity standards. This is a difficult personal trial to face, but it is an important part of your ethical obligation as a student. If you know that another student is violating the standards, it is your responsibility to inform the student's instructor.

Academic integrity violations: See the latest edition of SCAMPUS for a discussion of academic integrity violations. In this course, academic integrity violations generally will be penalized with a grade of F for the course.

Drops and Adds

Do you know anyone who is thinking about adding this course? Group assignments begin early in the course. Therefore, adds or changes of sections cannot be accepted after the first week of classes. Please let any of your friends who are thinking of adding this course know that they need to adjust their schedule during the first week of the semester.

Are you thinking about dropping the course? If so, be sure to note the drop dates listed on the last page of this syllabus. If you do decide to drop the course, please let your instructor or your group members know immediately. This is particularly important if you decide to drop during the first week of classes when groups are being formed for graded assignments. If you cannot reach your instructor or group members, please leave a message for your instructor at the Leventhal School of Accounting. (740-4838 is the number for the School's receptionist).

Leventhal School of Accounting Grading and Academic Standards