Course Title:
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Contemporary Issues in Accounting Practice | |
Course Materials:
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Accountant's Guide to Professional Communication
Publisher: Thomson Learning
Author: McKay and Rosa
ISBN: 9780324533019
Mastery of Accounting, 2nd, w 2007 CD-ROM
Author: Wallace
Publisher: Wiley
ISBN: 9780470255667
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Course Description:
Formerly ACCT 498C
Prerequisites: ACCT 311, ACCT 321, ACCT 422, BMGT 364. An examination of accounting for innovation and emerging business transactions and financing. Previously acquired knowledge is drawn on to aid in thinking critically, analyzing information, and proposing solutions to complex accounting and financial issues. Web accounting and business technology, accounting theory, and management techniques are used to research and analyze developing issues in the workplace. Topics include e-commerce, financial derivatives, balanced scorecards, and the changing nature of financial reporting and risk management. Students may receive credit for only one of the following courses: ACCT 495 or ACCT 498C. | |
Course Goals/Objectives:
The goals of this course are:
- For students to gain an understanding of the regulatory structure of the accounting profession, how and why that has changed in recent years and how those changes are likely to affect the accounting profession in the future;
- To increase students' knowledge of recent issues and problems in the accounting profession,
- To develop students' critical thinking skills in evaluating proposed solutions to the emerging issues and unfolding problems in the profession;
- To challenge students to formulate their own proposed solutions to current business and accounting issues;
- To study the impact of technological changes on the profession;
- To study the impact of the increasing trend toward globalization and the related movement toward an international accounting standard;
- To gain an understanding of the importance of new accounting techniques and technology and to appreciate both the potential advantages and pitfalls of these developments.
Cross Curricular Initiatives:
In addition to these learning objectives, this course also concentrates on UMUC's cross-curriculum initiatives, detailed below, designed to help UMUC students build business skills to enhance their careers and overall effectiveness in their employment.
Effective writing. There are writing assignments throughout the semester. Those assignments are expected to indicate appropriate professional writing skills. That is, they will be evaluated on the basis of grammar, sentence structure, spelling, and overall sound writing principles. The student should demonstrate effective written communications consistent with a professional business environment.
Information literacy. Students will be expected to demonstrate proficiency in research activities, using both the library and online sources.
Globalization. While this course will focus on domestic and national business and management firms, an important outcome will be the realization that the management principles apply to global and multinational organizations.
Fluency in technology. The student should demonstrate proficiency in use of the computer for writing tasks (including charts/graphs in written assignments).
Historical Perspective. Historical development of business management theory provides the student with a context for current practices.
Civic Responsibility. Positive and negative ethical behavior and role of business organizations in society will be explored in this course.
Course Introduction:
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Course Introduction:
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This is an analytical course in which critical thinking, analysis, and both written and oral presentation, rather than "number crunching," will be emphasized. At the conclusion of this course you should have a solid grasp of the major challenges facing the accounting profession today.
As a result of recent scandals in the business world in general, and accounting profession in particular, this is an especially interesting time in which to study this subject. We will devote a substantial amount of time to the analysis of what went wrong, what corrective action is needed and how a repetition of the sad record of recent years can be avoided. | |
Grading Information and Criteria:
A = 90-100%
B = 80-89%
C = 70-79%
D = 60-69%
F below 60%
The course grade will be computed on a weighted average of:
Cases = 40%
FASB Project = 20%
Group Paper = 20%
Participation = 20%
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Other Information:
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The key to success in this course is to keep current in the reading and to do all the assigned homework on a timely basis. My job is to help you learn the material and pass the course, but if you do not do the work, I cannot help you. If you do not do the assigned reading and attempt the homework before coming to class, much of what is done in class will be wasted on you. I cannot make you learn, nor is that my job to do so. If I do my job well I will have assisted you in the learning process, but the primary responsibility is yours. Finally, I do not "give" grades to students, nor do I grade the individual student. I review the work submitted to me and assign a grade solely on the basis of the work I have received. | |
Project Descriptions:
The FASB Project is an individual paper that will analyze an ongoing FASB project.
The Group project is a written analysis of the implications of a FASB pronouncement on a specific company.
Specific details will be given in classroom.
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Academic Policies:
Cases of plagiarism are handled consistent with current UMUC guidelines.
See the UMUC policies at the following URL:
http://www.umuc.edu/policy/ | |
Course Schedule:
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Week 1
Chapter 1 - Wallace
Chapter 1 - McKay and Rosa
Chapter 2 - McKay and Rosa
Week 2
Chapter 2 - Wallace
Chapter 3 - McKay and Rosa
Chapter 4 - McKay and Rosa
Case 1 due
Week 3
Chapter 3 - Wallace
Chapter 5 - McKay and Rosa
Chapter 6 - McKay and Rosa
Case 2 due
Week 4
Chapter 4 - Wallace
Chapter 7 - McKay and Rosa
Chapter 8 - McKay and Rosa
Case 3 due
Week 5
Chapter 8 - McKay and Rosa
Chapter 9 - McKay and Rosa
Case 4 due
Week 6
Chapter 9 - McKay and Rosa
Chapter 10 - McKay and Rosa
Case 5 due
Week 7
Chapter 11- McKay and Rosa
Chapter 12- McKay and Rosa
Week 8
Group Project due
Note: The course schedule, assignments and grade plan will be subject to change to better facilitate class discussion at the discretion of the professor. Any such changes will be announced in advance and the date of the latest revision will be noted in this course schedule. | |
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