AUSTIN COMMUNITY COLLEGE -->
AUSTIN COMMUNITY COLLEGE

ACCOUNTING DEPARTMENT

COURSE MASTER SYLLABUS

SPECIAL TOPICS IN ACCOUNTING - ACCOUNTING THEORY – ACNT 1391

COURSE LEVEL: Advanced (Junior-Senior Level)

COURSE NUMBER: ACNT 1391 (formerly 2391)

COURSE TITLE: Special Topics in Accounting - Accounting Theory

CREDIT HOURS:  3 (Lecture Hours)

PREREQUISITE: ACNT 2304 - Intermediate Accounting II or the equivalent

METHOD OF INSTRUCTION: Three hour lecture/discussion each week

COURSE DESCRIPTION: Survey of current accounting theory, including historical development of accounting standards, the role of the FASB, SEC and other bodies on the standard-setting process; the FASB's Conceptual Framework project; concepts of income and valuation. May be repeated when topics vary.
 

REQUIRED TEXT And MATERIALS: http://www2.austincc.edu/accting/.
 

COURSE OBJECTIVES AND CORE COMPETENCIES: 

The objective of this course is to promote understanding of contemporary accounting issues related to financial reporting, with an emphasis on recent accounting trends and controversial topics. A number of core competencies will be addressed in ACNT 1391. Upon completion of this course, students should:

  •  Understand the history of accounting standard-setting in the U. S., and apply this history when explaining the current   standard-setting environment.
  • Interpret the role of the Conceptual Framework in the standard-setting process.
  • Explain the impact of Generally Accepted Accounting Principles on a variety of controversial accounting issues.
  • Understand and demonstrate how financial reporting choices affect economic decisions of investors, creditors and others.
  • Use principles of revenue recognition to analyze, measure, and interpret accounting events.
  • Demonstrate how and why companies try to "manage" earnings, and the consequences of such earnings manipulation practices.
  • Explain how audit-related issues impact the quality of financial reporting.
  • Enhance oral and written communications skills.
  • Perform quality accounting research.
INSTRUCTIONAL METHODOLOGIES: 

The primary methods of instruction include lecture, case analysis, group presentation, and accounting research.

  • Conduct of accounting research:  Students perform weekly case analysis of controversial accounting topics. Students write a major position paper for submission to the FASB.
  • Integration of technology - students engage in accounting research that requires extensive periodical, database, and Internet research and occasional use of FARS.
  • Intensive writing - there is no exam in this course, cases analysis and accounting research projects require extensive writing on controversial  topics in accounting theory.
COURSE RATIONALE:
 
The goals and objectives of this course prepare students to (1) obtain or improving job-related skills, (2) qualify for careers in business or accounting, (3) qualify for accounting or business certification exams (CMA, CFA, CGFM, CIA, etc.), (4) qualify or a masters program, (5) work as an entrepreneur, (6) complete degree requirements and/or (6) fulfill personal goals.
 
SCANS COMPETENCIES (SCANS)
SCANS competencies have been identified that are relevant to the level of instruction in the community college environment.  These competencies reflect the knowledge and skills employees need to succeed in any occupation.   A complete definition and explanation of SCANS can be found at http://www.austincc.edu/mkt/scans.htm#whatis. The following SCANS are specifically addressed in ACNT 1391:
 
  Exhibition of Responsibility
 -  Students meet established deadlines as specified by the instructor.
 -  Students regularly attend classes as required by the instructor.
 -  Students exhibit reliability and dependability in the performance of group-related tasks.
 
  Acquisition of Information
 - Students identify the need for data, obtain it from existing sources, or create it as necessary.
 - Students use computers to process information.
 - Students understand the accounting information systems.
 
  Use of Information Skills
  - Students evaluate the relevance and accuracy of information and its appropriateness for a given academic activity.
  - Students effectively communicate the results of information retrieval and analysis using oral, written, graphical, pictorial,      or other  methods as appropriate.
  • -Students apply technology to problem solving activities.


    • Application of Technology
    --Students understand the overall intent and the proper procedures for setting up and operating machines, including computers and their programming systems.

  • -Students demonstrate competence in the use of the appropriate business software.
    • SCHOLASTIC DISHONESTY: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.
     
    STUDENTS WITH DISABILITIES:
    Each ACC campus offers support services for students with documented physical or psychological disabilities.  Students with disabilities must request reasonable accommodations through the Office of Students with Disabilities on the campus where they expect to take the majority of their classes.  Students are encouraged to do this three weeks before the start of the semester... or as soon as possible.  The Web site for the Office of Students with Disabilities is http://www2.austincc.edu/osd/index.html.