| Course Title: | CPA Exam Preparation: Financial Accounting and Reporting |
|---|---|
| Course Number: | ACCT593 |
| Course Description: | This course prepares students to pass the financial accounting and reporting section of the CPA exam. Coursework covers accounting principles generally accepted in the United States (GAAP) that affect business enterprises, not-for-profit organizations, and government entities. Also addressed are skills needed to apply such knowledge, as well as financial accounting concepts and standards. |
| Course Prerequisites: | (The course may not be taken by students who received credit for CPA Exam Preparation: Financial Accounting—AC593.) Prerequisite: AC551 or equivalent |
Syllabus
Course Information
Course Specific Requirements
Students will cover materials in the textbook in conjunction with the national instructors' presentation of the materials in the multimedia lectures. In addition to covering content, students will work both case-based simulations and multiple choice questions. Every problem-oriented question worked in class is taken from a prior CPA exam. "Distracters" and "blind alleys" are identified as students read and answer questions. Finally, students receive solutions to the problems so they can compare their answers with the correct answers and receive immediate feedback on how they are doing. More importantly students will learn a problem-solving approach for them to efficiently get the correct answer to each question and the best method of setting up answers using various formats. All of these exam techniques are designed to help students maximize their points on the CPA exam.
Lecture Requirements:
All of the lectures are required for this course. Lectures must be viewed online via http://online.becker.com or offline using the Becker desktop application. If viewed offline using the desktop application, it must be uploaded onto http://online.becker.com by the deadline listed in the Class Schedule posted in Doc Sharing.
When you access the Becker portal, you will need to log in with the Username and Password provided you receive from Becker.
Students will cover materials in the textbook in conjunction with the national and local instructor’s presentation of the materials in the multimedia or live lectures. In addition to covering content, students will work both case-based simulations and multiple choice questions. Every problem-oriented question worked in class is taken from a prior CPA exam. "Distracters" and "blind alleys" are identified as students read and answer questions. Finally, students receive solutions to the problems so they can compare their answers with the correct answers and receive immediate feedback on how they are doing. More importantly, students will learn a problem-solving approach for them to efficiently get the correct answer to each question and the best method of setting up answers using various formats. All of these exam techniques are designed to help students maximize their points on the CPA exam.
Lecture requirements:
Complete, 100% attendance is required (including any unit that may be labeled Self-Study in the Class Schedule).
- Be sure to have the attendance sheet in the textbook stamped at each class.
- You are allowed to miss two lectures, but they must be viewed via the online platform at https://online.becker.com. Proof of viewing the lecture must be indicated on your Homework Performance Summary report.
- Please note that if you are enrolled in a Saturday section, there are two lectures on one Saturday meeting.
- For any section noted as Self-Study in the Class Schedule (Doc Sharing), the lecture is required viewing via the software in its entirety and proof will appear on the homework Performance Summary Reports.
- All online lectures must be completed by the deadline listed in the Class Schedule posted in Doc Sharing.
When you access the Becker portal, you will need to log in with the Username and Password provided you receive from Becker.
Class Schedule and Due Dates
Refer to the Class Schedule and Due Date document located in Doc Sharing for all Assignment Due Dates and the Unit/Week Dates.
Discussion Requirements
Participation in the online discussions is not required for this course. There will be no instructor participation in the discussions.
However, you are strongly encouraged to participate in the discussions to enhancement learning experience as you discuss the topic with fellow students.
Course Withdrawal
Students must contact the graduate center director and follow the standard Keller Graduate School policy to withdraw from a class (see academic catalog). In addition, students who withdraw from a course will no longer have access to the online platform for that course and they must return the Becker textbook within 10 days from the date of withdrawal. The purchase price of optional Becker Flashcards is not refundable. Students who do not return the Becker textbook within 10 days will be charged the standard price of the Becker CPA Review course. The student is responsible for shipping costs and advised to ship the textbook by certified mail or another traceable method. The returned textbook must include a copy of the student's withdrawal form or a letter indicating the student's name, ID number, date of withdrawal, and be shipped to the following address:
Becker Professional Education
100 Galleria Pkwy SE
Suite 100
Atlanta, GA 30339
Attn: Kim Kirkland
Software Citation Requirements
This course uses open-source software, and as the end users of this software, students are required to cite the software for any student work, such as assignments, labs, or projects, where the software has been utilized. Open-source software does have end-user license agreements, and all students should read the entire agreement for a software prior to installation or usage. In order to use the software in this course, software citations have been created for students and can be located on the Open Source Applications page. These software citations must be included in all student work submissions that have used the software.
Textbooks and Resources
Required Textbooks
The following books are required for this course:
CPA Exam Review—Business
by DeVry/Becker Educational Development Corporation
2016 DeVry/Becker Educational Development Corporation
Class materials also include access to https://online.becker.com. This platform provides access to the multiple choice homework questions, as well as the simulations, practice exams, and the lectures. Students should view the introductory materials included at this platform before beginning the program of study. These are under the Help tab at the top right. Books and materials are available from Becker.
Physical Books and Supplies
Your course may require additional materials, such as a course kit. Visit the online bookstore if you have not yet ordered your books and supplies.
If you are a Chamberlain student, visit the online Chamberlain bookstore to obtain all your books and supplies.
Campus Additional Information
Enter content here, if necessary.
Terminal Course Objectives
DeVry University course content is constructed from curriculum guides developed for each course that are in alignment with specific Terminal Course Objectives. The Terminal Course Objectives (TCOs) define the learning objectives that the student will be required to comprehend and demonstrate by course completion. The TCOs that will be covered in detail each week can be found in the Objectives section for that particular week. Whenever possible, a reference will be made from a particular assignment or discussion back to the TCO that it emphasizes.
A
Given concepts and standards for financial statements, understand financial accounting concepts, financial accounting standards for presentation and disclosure in general-purpose financial statements, and financial statement analysis.
B
Given financial statements, understand recognition, valuation, measurement, and presentation of cash, accounts receivable, inventory, property, plant and equipment, investments, intangibles, payables and accruals, deferred revenues, notes and bonds payable, other liabilities, equity accounts, and revenue, cost and expense accounts.
C
Given specific types of transactions, understand recognition, valuation, measurement, and presentation of accounting changes and correction of errors, business combinations, contingent liabilities, discontinued operations, earnings per share, employee benefits, extraordinary items, subsequent events, leases, related party transactions, R&D costs, interest costs, income taxes, foreign currency transactions, and non-monetary transactions.
D
Given financial statements prepared in accordance with governmental accounting concepts, understand fund accounting concepts, the budgeting process, the format and content of governmental financial statements, and the following terms: net assets, capital assets and infrastructure, transfers, other financing sources and uses, fund balance, non-exchange revenues, expenditures, encumbrances, and special items.
E
Given financial statements of a nongovernmental not-for-profit organization, understand the formats for the statement of financial position, statement of activities, statement of cash flows, and statement of functional expenses. In addition, understand the recognition, measurement, valuation and presentation of revenues and contributions, restrictions on resources, expenses (including depreciation and functional expenses), and investments.
Lab Schedule
Week 1
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 2
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 3
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 4
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 5
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 6
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 7
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 8
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 9
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Week 10
None
Citrix
RKON
Skillsoft
Toolwire
WebServer
ACC COMAT
ACC NonCOMAT
CWP
EDUPE (MySQL)
Course Schedule
| Unit, TCOs, and Topics | Readings and Class Preparation | Activities and Assignments |
|---|---|---|
| Unit 1 TCO A Financial 1 | Financial 1: Conceptual Framework and Financial Reporting | Lecture |
| Unit 2 TCO A Financial 2 | Financial 2: Financial Reporting and Disclosures | Lecture |
| Unit 3 TCO B Financial 3 | Financial 3: Assets and Related Topics | Lecture |
| Unit 4 TCO C Financial 4 | Financial 4: Investments, Business Combinations, and Goodwill | Lecture |
| Unit 5 TCO B Financial 5 | Financial 5: Liabilities | Lecture |
| Unit 6 TCO C Financial 6 | Financial 6: Leases, Derivatives, Foreign Currency Accounting, and Income Taxes | Lecture |
| Unit 7 TCO C Financial 7 | Financial 7: Pensions and Equity | Lecture Homework Discussion (not graded) Quiz |
| Unit 8 TCO E Financial 8 | Financial 8: EPS, Cash Flows, and NFP Accounting | Lecture |
| Unit 9 TCO D Financial 9 | Financial 9: State and Local Governments: Part I | Lecture |
| Unit 10 TCO D Financial 10 | Financial 10: State and Local Governments: Part II | Lecture |
Blended E-Learning
This course is an 8-week, intensive course that includes both classroom-based and e-learning activities. Your participation in both areas is essential to your success in this course. You should expect to spend time each week participating in the prescribed activities both before and after our class meeting.
Participation before, during, and after class meetings is critical to your success in this intensive environment.
To get the most out of our weekly class meetings, it is essential that you come to class prepared. The weekly readings listed in the Course Schedule will prepare you for class. Our class meetings, in turn, will prepare you for upcoming exams and assignments.
Through the DeVry e-learning platform, you will be able to
- review the Syllabus and weekly assignment information;
- submit completed work for grading;
- take quizzes and exams;
- obtain copies of class handouts and notes;
- e-mail the instructor and other students; and
- participate in online discussion of class material.
Due Dates for Assignments & Exams
Unless otherwise specified, the following applies.
- Access to most weeks begins on Sunday at 12:01 a.m. mountain time (MT).
- All assignments are to be submitted on or before Sunday at the end of the specified week that they are due, by 11:59 p.m. (MT).
- All quizzes and exams are to be completed on or before Sunday at the end of the specified week that they open, by 11:59 p.m. (MT).
Week 8 opens at 12:01 a.m. (MT) on the ending Sunday of Week 7. Any assignments or exams must be completed by 11:59 p.m. (MT) Saturday of the eighth week.
Due Dates for Assignments & Exams
All assignments, quizzes, and exams are to be completed per the schedule indicated by your instructor.
Assignment Values and Letter Grades
Grading Policy
The course is administered on a pass/fail (Satisfactory/Unsatisfactory) basis. Grades will be calculated based on the following criteria.
- Lectures (all required): See Course-Specific Requirements.
- Homework (90% correct on a per-class basis)
- Homework must be reworked until you get at least 90% correct before credit will be given on a lesson-by-lesson basis.
- Quizzes (all required)
- There are two types of quizzes in this course.
- Quiz scores must average 50% or higher (average for all 12 quizzes) to receive credit.
Failure to complete all the lectures, homework, and quizzes before the end of the class term will result in a U for the course.
Components of the Course
Homework
You can learn a great deal from participating in the assignments if you conscientiously prepare, ask questions, and share insights from them. Most of the people in the class will be taking these exercises seriously, and they will expect you to take them seriously. This means that you should be professional in your interactions with the instructor and with your peers. Each week you will submit assigned problems covering the TCO(s) for that week. Homework must be reworked until you get at least 90% correct before credit will be given on a lesson-by-lesson basis.
Quizzes
There is one multiple choice quiz in each unit based on each lecture.
Please note the above grading policy for each type of quiz.
DeVry Graduate Academic Policy and Relevant Resources
DeVry Undergraduate Academic Policy and Relevant Resources
Frequently Asked Questions
When are grades calculated, and how can I view my grades?
- You must complete any quizzes and post your written assignments (if necessary) to the weekly Dropbox by Sunday 11:59 p.m. (MT) each week, except Week 8 which closes at 11:59 p.m. (MT) Saturday.
- Once your work is reviewed, you should see comments and total points for each assignment in the Gradebook. Instructors should have Discussion work graded by the following Tuesday and all other assignments by the following Friday.
- You may check your progress at any time by going to the Gradebook, selecting the week and then your name.
- Click on the points earned for each assignment in the Gradebook to see any instructor comments.
What should I do if a discrepancy is found with my grade?
- Double-check the error and try to determine what caused it.
- Send your instructor an email explaining your findings.
- Trust that any error in grading will be corrected quickly
What if I cannot get my work submitted on time?
- If you have an emergency that will cause your work to be late, please contact your instructor in advance of the due date so that arrangements can be made. Your instructor may reserve the right to deduct points for work turned in late based on the reason and the timeliness of notice.
- If a technical problem prevents you from meeting the scheduled due date, please contact the Help Desk at 1-800-594-2402 and immediately email your instructor about the situation.
How can I get extra credit?
Extra credit is not an option.
Questions and Concerns
Please feel free to contact me for help with coursework or other areas that may impact your progress. Here are some examples.
- Do you have general questions about attendance, deadlines regarding your courses, student financial aid, or other areas?
- Are you a member of the military service? Do you need to adjust your schedule due to active duty, or do you have questions about your GI Bill® benefits or have other unforeseen military and veteran-related issues that have developed?
- Do you need supplementary student assistance? Please let me know if you are having academic difficulty and would like an ADA accommodation. Although I can talk with you about getting assistance, an excellent point of contact is the Office of Student Disability Services. You can reach the Office by calling 877-496-9050, option 3, or by e-mailing adaofficer@devry.edu or adaofficer@keller.edu.
Regardless of your situation, please feel free to contact me for assistance in whatever area of concern you might have. I will do everything I can to assist you or put you in contact with University colleagues who are trained to assist you in whatever area of concern you might have.
"GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by the VA is available at the official U.S. government website: www.benefits.va.gov/gibill.”