Course Name:  Accounting for Global and Complex Entities 
Course Prefix: ACTG
Course Number: 5140
             Submitted by (Name & E-Mail):  David Malone, dmalone@weber.edu

Current Date:  1/19/2011
College: Business & Economics
Department:   Accountancy                              
From Term: Fall  2011 

Substantive

new 

Current Course Subject N/A
Current Course Number

New/Revised Course Information:

Subject:  ACTG            

Course Number: 5140

 Check all that apply:
    This is for courses already approved for gen ed.
    Use a different form for proposing a new gen ed designation.
DV  CA  HU  LS  PS  SS 
EN  AI  QL  TA  TB  TC  TD  TE

Course Title: Accounting for Global and Complex Entities

Abbreviated Course Title: Global and Complex Entities

Course Type:  LEC

Credit Hours:  3  or if variable hours:    to

Contact Hours: Lecture 3  Lab    Other

Repeat Information:  Limit 0   Max Hrs 0 

Grading Mode:  standard

This course is/will be: a required course in a major program
a required course in a minor program
a required course in a 1- or 2- year program
elective

Prerequisites/Co-requisites:

Prerequisit: ACTG 3120 Intermediate Financial Accounting II

Course description (exactly as it will appear in the catalog, including prerequisites):

Issues in international accounting not covered in Intermediate Accounting are covered in this course. The course also covers concepts related to accounting for complex entities, including governmental and not-for-profit entities, consolidated entities and partnerships. Prerequesites: ACTG 3120.

Justification for the new course or for changes to an existing course. (Note: Justification should emphasize academic rationale for the change or new course. This is particularly important for courses requesting upper-division status.)

Currently, the accounting major requires two courses that will be dropped as requirements. Those courses are ACTG 3500 (International Accounting) and ACTG 5130 (Advanced Accounting.) Increasingly, the content of International Accounting is migrating to Intermediate Accounting (with the convergence of U.S. GAAP and international accounting standards.)

INFORMATION PAGE
for substantive proposals only

1. Did this course receive unanimous approval within the Department?

true

If not, what are the major concerns raised by the opponents?

2. If this is a new course proposal, could you achieve the desired results by revising an existing course within your department or by requiring an existing course in another department?

No. As explained, there is content that is being merged between two existing courses calling for a new course. Ultimately, the other two courses will be deleted.

3. How will the proposed course differ from similar offerings by other departments? Comment on any subject overlap between this course and topics generally taught by other departments, even if no similar courses are currently offered by the other departments. Explain any effects that this proposal will have on program requirements or enrollments in other department. Please forward letters (email communication is sufficient) from all departments that you have identified above stating their support or opposition to the proposed course.

This course has no material that is replicated nor would it have any impact on any other department.

4. Is this course required for certification/accreditation of a program?

no

If so, a statement to that effect should appear in the justification and supporting documents should accompany this form.

5. For course proposals, e-mail a syllabus to Faculty Senate which should be sufficiently detailed that the committees can determine that the course is at the appropriate level and matches the description. There should be an indication of the amount and type of outside activity required in the course (projects, research papers, homework, etc.).

ACCOUNTING FOR GLOBAL AND COMPLEX ENTITIES ACTG 5140

FALL 2011

Instructor: David Durkee

Office:  WB 250

Office Hours:

Office Phone: 626-6085

E-Mail  ddurkee@weber.edu

Prerequisite: 

ACTG 3120 and Business Foundations.

 

Advanced Financial Accounting, 4th ed., by Baker, Lembke, King and Jeffrey, McGraw-Hill Irwin, 2009.

Reading assignments, PowerPoint presentations etc. (see Weber On-line)

This is a demanding course. Make sure you have time to devote to it before you continue. The most common problem of students who do poorly in the class is procrastination. The most common problem of students who fail the course is not completing all assignments.

Grading

The following point totals are approximations only:

Exams (@ 100 points each) 300

Quizzes (varies)

Papers (@ 100 points each) 300

Homework (varies)

 Total                                  600

Course Objectives

·                     Student will demonstrate familiarity with the structure and operation of the International Accounting Standards Board and have facility with International Financial Reporting Standards

·                     Student will understand and be able to account for foreign currency transactions and derivatives.

·                     Student will be able to account for mergers, acquisitions and investments in other entities

·                     Student will be able to prepare and analyze consolidated financial statements of complex entities.

·                     Students will demonstrate an understanding of the complexities of transfer prices set among the components of complex entities.

·                     Student will be able to properly disclose information for significant and foreign segments.

·                     Student will demonstrate basic accounting for government entities.

 

You will be given four exams during the semester. All count. Dates for exams are on the Course Schedule. If you have an acceptable excuse for missing an exam and can notify me in advance of the exam period, you must do so. A late our exam will not be given after it is handed back to the class.

Acceptable excuses for missing an exam are normally limited to your health or the health of your immediate family or for university-sponsored events (e.g., if you are required to participate in university sporting events that conflict with the exam period).

Papers and Due Dates

Due dates for papers are indicated on the Course Schedule. Changes and any additional assignments may also be announced in class and/or bye-mail. You are required to comply with all changes to assignments and due dates.

Papers must be submitted electronically using the Turn-It-In software on the On-Line site for the course to receive credit.

Late work: There is a 20% penalty per day for late work, if unexcused. Saturday and Sunday count as one day.

Late penalties will be excused if you have a valid reason. Write a note of explanation if you feel you have a valid excuse and attach it to your work; any exception you request must be in writing.

Revisions: you must revise all research papers byJhe date indicated in the course schedule. Late penalties will still apply to the papers you resubmit.

Ten points will be deducted if a student does not revise. No late papers will be accepted for resubmitted papers without an acceptable excuse.

Failure to maintain academic ethics/honesty including the avoidance of cheating, plagiarism, collusion, and falsification will result in an E in the course, and may result in charges being issued, hearings held, and or/sanctions being imposed.

A description of cheating and possible sanctions may be found in the Student Code. Copies of the Student Code are available at the offices of the Vice President for Student Services and the

ASWSU. If you have a question about your conduct, I suggest you review these materials or consult me.

Any student requiring accommodations or services due to a disability must contact Services for Students with Disabilities (SSD) in room 181 of the Students Services Center. SSD can arrange to provide course materials (including this syllabus) in alternative formats if necessary.

Research papers are designed to familiarize you with outside references (other than textbooks), to expand your understanding of international accounting topics, and to develop your writing skills.

Paper I-International Accounting Standards

·                      The history/evolution of International Accounting Standards

·                      Organizations involved

·                      Convergence of national with international standards (pick a country)

·                      Trends that affect the present and the future of accounting profession and regulation (including current events).

·                      Differences in scope and tone between international and national standards

Paper 2-Compare U.S. and international accounting standards for one the following topics: 1: Business combinations

2: Price changes and/or valuation/measurement issues 3: Intangibles

4: Segments

Paper 3-Choose one of the following topics: 1: Accounting for derivatives

2: Accounting for Foreign Operations

3: Any international accounting standard 4: International tax issues

1.                  The International Accounting Standards Board and International Financial Reporting Standards

2.                  Accounting for derivatives: foreign currency forward contracts (including foreign currency transactions)

3.     U.S. and International Accounting Principles

a.              Intercorporate acquisitions and investments in other entities

b.              Reporting intercorporate interests

c.              The reporting entity and consolidated financial statements

d.              Consolidation of wholly owned subsidiaries

e.              Consolidation of less-than-wholly owned subsidiaries

f.               Intercompany transfers of services and non-current assets

g.              Intercompany inventory transaction

h.              Consolidation of foreign operations

h. Segment reporting: line-of-business and foreign operations

3.     Government entities and the general fund

4.     Government entities: special funds and government-wide financial statements