Course Description
This is an intensive course in accounting theory and practice. The course attempts to strike a balance between procedural explanations of currently applied accounting practices and the theoretical framework upon which those practices are based. Alternatives to current practice are also introduced.
Rationale
Accounting students who seek professional success in their careers need to understand both theory and practice in order to meet the challenges that await them in the future. Knowing alternatives to current practice can enhance their understanding of accounting practices that may evolve in the future.
I. Prerequisite
ACCT 212
II. Required Resource Purchases
American Psychological Association. Publication manual of the American Psychological Association (current edition). Washington, D.C.: Author.
Spiceland, J., Sepe, J., & Nelson, M. (2013). Intermediate accounting (with connect plus) (7th ed.). Boston: McGraw-Hill. ISBN: 9780077635862.
Disclaimer: The above resources provide information consistent with the latest research regarding the subject area. Liberty University does not necessarily endorse specific personal, religious, philosophical, or political positions found in these resources.
III. Additional Materials for Learning
A. Computer with basic audio/video output equipment
B. Internet access (broadband recommended)
C. Microsoft Office
IV. Measurable Learning Outcomes
Upon successful completion of this course, the student will be able to:
A. Apply accounting theory to analyze and solve complex accounting problems.
B. Prepare financial statements in accordance with GAAP and the conceptual framework.
C. Evaluate economic resources using the conceptual framework and GAAP.
D. Compare and contrast GAAP and IFRS with respect to the conceptual framework and accounting for economic resources.
V. Course Requirements and Assignments
A. Textbook readings and lecture presentations
B. Course Requirements Checklist
After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.
C. Group Discussion Board Forums (4)
There will be 4 Group Discussion Board Forums throughout the course. The purpose of Group Discussion Board Forums is to generate interaction among students in regard to relevant current course topics. The student is required to post 1 thread of at least 500 words and 1 reply of at least 250 words. For each thread, the student should support his/her assertions with at least 2 citations other than the textbook; the Bible may be one of those sources. Everything must be in APA format. Citations for the replies are not required, but encouraged.
D. Connect Plus Homework (8)
In every module/week, the student will be assigned homework to complete in Connect Plus. At the end of the assigned modules/weeks, Connect Plus will automatically grade all of the assignments, and the instructor will then download the results and place the scores within Blackboard.
The Connect work for each chapter is divided into 2 parts. One part is the LearnSmart (LS) feature. LS is designed to enhance the student’s learning experience by helping him/her to focus his/her study to areas where more help is needed. This should make the student’s time more productive and also help the student to work the problems in Connect (the second part of the Connect assignment).
A portion of the points for the Connect Homework have been assigned to the student’s work with LS.
E. Research Paper
The student will submit
