Leslie A. W. Van Wolvelear Associate Professor of Accounting Office: DP 3618 Phone: (847) 376-7135 Email: lvanwolv@oakton.edu Home Page: http://www.oakton.edu/~lvanwolv/homepage.htm

II. Prerequisite:
Recommended: ACC153

III.Course (Catalog) Description:
Course presents development, usefulness and limitations of financial accounting.  Content includes the study of financial statements, conceptual framework of accounting, present value techniques, as well as issues arising from cash, receivables, inventories, long-term assets, and current liabilities.  Accounting research is included using professional databases to resolve accounting issues. One credit hour of this course will satisfy the accounting research requirement mandated by the Illinois Board of Examiners.

IV. Learning Objectives:

A.   Students will demonstrate an understanding of concepts and the ability to solve problems in the areas of:
    1.         Conceptual Framework of Accounting
    2.         Accounting Cycle
    3.         Balance Sheet and Income Statement Presentation
    4.         Present Value
    5.         Cash and Receivables
    6.         Inventory
    7.         Fixed Assets
    8.         Intangible Assets
    9.         Current Liabilities and Contingencies
B.   Students will demonstrate the ability to perform accounting research to solve accounting issues using professional databases.

V. Academic Integrity:
Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton’s Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton’s policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.

Details of the Code of Academic Conduct can be found in the Student Handbook.

VI. Outline of Topics:

See Schedule icon in D2L for the topics being covered in this course.

VII. Methods of Instruction:

This course will combine lecture and discussion, working problems and reviewing solutions, collaborative problems, case problems, chapter quizzes, computer lab for Accounting Research, and three examinations. Homework should not be submitted. Note that there are specific due dates for the quizzes, projects and exams.

VIII. Course Practices Required:
• The class will start promptly and the full period will be used each day.
• The student should allow for up to two hours of homework for each hour in class. (Some students might need more than two hours.)
• Students are expected to complete the required readings prior to class.
• Sharing of calculators and use of cellphones during an exam is not permitted.
• Tests taken late will automatically be reduced by 15% of the maximum points.
• Projects are due at the beginning of the class period.  Projects submitted late will be reduced by 15% of the maximum points.
• Complete assignments utilizing the Wiley PLUS software.
• See the Calendar link in D2L for all due dates
• Chapter quizzes and WileyPLUS graded assignments can be completed after the due date up through the exam covering the chapter material for 70% of the points
 

It is also recommended for students to:
• Complete additional assignments and review solutions utilizing the Wiley Plus software.
• Complete additional quizzes for each chapter on the Student Companion Site.

IX. Instructional Materials:

Intermediate Accounting, 14th Edition
Kieso, Weygandt, Warfield; John Wiley & Sons, Inc., 2012 (ISBN # 978-0-470-58728-7)

WileyPLUS access code- included with a new text at Oakton Bookstore (keep for ACC242)

WileyPLUS course Website (the 13th edition site is free for Fall 2011 term only):
http://edugen.wileyplus.com/edugen/class/cls231475/

Intermediate Accounting Student Companion Site:
http://bcs.wiley.com/he-bcs/Books?action=index&itemId=0470587237&bcsId=6326

Methods of Evaluating Student Progress:

Note: The total points are subject to change during the term

Work submitted after the deadline will be reduced by 15% of the maximum points.

XI. Other Course Information:

1. Attendance
Class attendance is expected. We will cover a great deal of exercises in class that are not in the syllabus. These exercises are used to reinforce the lecture, and you are responsible for all information covered in class. Attendance on exam days is mandatory. The only excuse for missing an exam is a medical emergency. If a doctor’s note is documented and confirmed by the doctor’s office, the student will be allowed to take a makeup exam. Student should contact the instructor e-mail or class website regarding any problems meeting course requirements.

Oakton Community College recognizes the broad diversity of religious beliefs of its constituencies. The college has embraced a practice of shared responsibility in the event a religious observance interferes with class work or assignments. Students who inform instructors in advance of an intended absence for a major religious observance will not be penalized. The instructor will make reasonable accommodation for students, which may include providing a make-up test, altering assignment dates, permitting a student to attend another section of the same course for a class period or similar remedies. Instructors are not responsible for teaching material again.