BUS 311

Intermediate Accounting I
Capital University
Fall Semester 2003
Instructor:

Dr. L. Meuser Mittermaier

Office: 215 Troutman Hall

Office Hours:

Tuesday, Thursday: 11:00-12:30,

Wednesday: 2:00-4:00,
or by appointment

E-mail:

lmitterm@capital.edu

Phone: Office: 236-6130

Secretary: 236-6595
Fax: 236-6540
Home: 476-9146

Web Links:

http://capital2.capital.edu/faculty/lmitterm/ (my home page)

http://capital2.capital.edu/faculty/lmitterm/Bus311page.html/ (course web site)
http://blackboard.capital.edu/ (Blackboard)
http://highered.mcgraw-hill.com/sites/0072466138/student_view0/index.html
(textbook web site)

Prerequisite:

BUS 213

Class Meets:

Monday and Wednesday, 12:00-1:50 pm, 104 Learning Center

Credit Hours: 4 credit hours

Course Materials:
Required:

Intermediate Accounting, 3rd Edition, Spiceland, Sepe, & Tomassini (Irwin

McGraw Hill), 2004
The Elements of Style, Strunk and White, 4th Edition, Pearson Allyn & Bacon,
2000

Optional:

Study Guide and Working Papers to accompany the textbook

Suggested: The Wall Street Journal. This publication is essential reading for business
majors, and you will have the opportunity to earn extra credit points by
analyzing articles from the paper.
Course Objectives: Accounting information is used in making numerous business decisions. In
BUS 311, we focus on (1) how the accounting information is prepared according to
generally accepted accounting principles, and (2) how the information is utilized by external
users such as shareholders and creditors.
During the course you should:
1. Become familiar with accounting terms and concepts used in making business decisions.
2. Understand the Conceptual Framework that serves as the theoretical basis of most
accounting standards.
3. Learn the generally accepted accounting principles that govern the valuation of assets
and liabilities and the measurement of income.
4. Be able to prepare the four main financial statements: balance sheet; income statement;
statement of shareholders' equity; and statement of cash flows.
5. Be able to interpret financial information and assess its usefulness.
6. Be able to identify and resolve ethical dilemmas involving the generation or use of
accounting information.
7. Become familiar with some of the financial information available on the Internet.
1

8. Improve your communication skills, especially your writing skills.

9. Develop your critical thinking skills. Using your knowledge base and your sense of
reason, you should be able to critically assess issues, solve a variety of problems, and
grasp "the big picture." Rather than just memorizing a series of accounting rules, you
should understand why the rules exist, how the rules might apply to situations that we
have not discussed, and what effect the rules will have on the quality of the accounting
information provided to external users.
Specific learning objectives for each chapter are contained in the course lecture guides.
Class Routine: A tentative course outline is given on page 6. Class time will be devoted mainly
to lectures and problem-solving. You will receive a lecture guide for each chapter that
contains learning objectives, the questions and examples that form the basis of the lectures,
and a listing of the homework assignments. Many homework assignments will be discussed
in class and questions on course materials are encouraged at any time.
Course Grade: Course grades will be determined using the factors shown below. Note that late
assignments will not be accepted. I may postpone the due dates and exam dates if we fall
behind in the schedule shown on page 6. Any such changes will be announced in class.
Type of Assignment/
Exam Coverage

Due Date/
Exam Date

Assignment/Exam

Points

Assignments
Class participation
Lecture guide examples
Interview of acctg. professional
Ethics paper
Financial reporting
Subtotal

25
50
35
100
40
250

-Group or individual
Individual
Individual
Individual

daily
various
September 29
various
various

Exams*
Exam 1
Exam 2
Exam 3
Final exam
Subtotal

75
75
75
125
350

Chapters 1-3
Chapter 4, 5, 7
Chapters 8, 9, 22
Comprehensive, emphasis on ch. 10-11

September 22
October 20
November 17
December 9

Total

650

*Points for each exam are approximate, but total exam points = 350.
The grading scale is given on the following page. The assignments will not be curved, but I
may curve the exams, in which case you will simply get a fixed number of points added to
your score. The extent of any curve depends upon the overall performance of the class on
each of the exams, and thus cannot be determined in advance. However, I don't anticipate
that much curving will occur. However, you will have the opportunity to earn up to 15 extra
credit points, as described in a separate handout.
Please refer to page 7 of this syllabus for grading guidelines. These guidelines summarize
the general quality of work that would result in a letter grade of A, B, etc.

Important Note: You cannot pass this course without an average of at least 50 percent on the
four exams, regardless of how many points you accumulate in total.
Grade
A
AB+
B
BC+
C
CD+
D

Percentage
93%
90%
87%
83%
80%
77%
73%
70%
67%
60%

Points
558
540
522
498
480
462
438
420
402
360

I will use Blackboard to maintain your grades this semester, thereby allowing you to access
your grades at any time. You should register for this course on Blackboard as soon as
possible, but no later than September 10 (its BUS311-01_03F; look near the bottom of the
course catalog listing). To do so, you must have an e-mail account at Capital, although you
can set your default e-mail to some other e-mail address. If you do not have a Capital e-mail
address, contact IT to arrange for one.
As a precautionary measure, you should retain all graded materials until you have received
your final course grade.
Exams: Students are expected to be in attendance at every exam. If you have an acceptable,
documented excuse for missing an exam, you are responsible for informing me and
obtaining my permission to miss the exam before the exam takes place. Failure to obtain
my permission in advance is equivalent to an unexcused absence and a grade of zero will be
assigned on that exam. Note that you must actually speak with me; leaving me a note or
leaving a voice mail message or a message with the secretary does not constitute permission.
Make-up exams will not be given. If I give a student permission to miss an exam, I will
increase the relative weights of the other exams.
Exams will emphasize material covered in class lectures and/or homework, and will
probably be a combination of multiple choice questions, short essays, and problems. I will
inform you of the general format at the class meeting immediately prior to each exam. You
may not bring a programmable calculator to any exam.
After the graded exams are reviewed in class, I will collect them and keep them in my
office. You may review your exams at any time during the semester.
Lecture Guide Examples: For most chapters you are required to solve some of the examples from
the lecture guides prior to class. You may be called upon to share your answers and your
work must be turned in. The assignment for Chapter 2 is worth 10 points and assignments
for all remaining chapters are worth 5 points, for a grand total of 50 points.
Your answers must be done in pencil and any corrections made during class should be done
in pen. You will be graded both on effort and accuracy. Any attempt to copy down answers
during our class discussion and turn them in as your original work is considered cheating.
On the first offense you will receive a grade of zero on the assignment and be penalized an
additional 25 points. For a second offense you will receive an F in the course.

You are permitted (indeed, encouraged) to work with other class members in completing the
lecture guide examples. If you work with others, you should turn in one copy of your
answers and all group members will receive the same score. A maximum of three students
can work together on any chapter, and the individuals you work with can vary from chapter
to chapter. For any given chapter, however, you must do all the problems either alone or
with a group. For assignments completed by a group, each student must sign their name; no
one is permitted to sign their name unless they have substantially contributed to completion
of the problems.
Other Assignments: There are several required assignments besides the lecture guide examples,
comprising a total of 175 points. These are individual assignments for which you are
required to do the work completely on your own. You may neither furnish nor receive aid
on these assignments, and all your questions should be directed to me. As you can see from
the list of assignments on page 2, most of these assignments are not conducive to working
with others.
More details regarding these assignments will be furnished during the term.
Class Participation: Class discussion and exchange of ideas is greatly encouraged in this
course, and you can earn up to 25 points for class participation. You will be judged on your
contribution to the class discussion in terms of both the quality and regularity of your
comments and questions. I will keep track of your participation for most class days, but you
are also responsible for keeping track of your daily class participation and periodically
reporting it to me.
Suggested Homework Assignments: Diligent completion of suggested homework assignments is
an important factor in succeeding in this course few students can adequately grasp the
material without completing the homework assignments. You can expect to be called on in
class to discuss the assignments. For some chapters, I have suggested at least one problem
that you should solve using an Excel worksheet that can be accessed from our textbooks
web site.
Class Attendance: Class attendance is not mandatory. However, you miss class at your own peril
- you are responsible for anything covered or mentioned in class, regardless of whether you
are present. Of course you cannot earn any participation points on days that you are absent.
Professionalism/Demeanor: As a developing business person, you are expected to conduct
yourself in a professional and courteous manner. You will lose points for inappropriate
behavior. Examples of such behavior include: excessive lateness; sleeping, talking, or
eating during class; wearing a hat in class; and leaving the room during class. (These
examples are not all-inclusive.) I will speak with you outside of class if I see you exhibiting
a pattern of inappropriate behavior.
Withdrawal/Incomplete Policies: Friday, October 24 is the last day to withdraw from this course
with a grade of "W;" all withdrawals after October 24 will result in a grade of "F."
Incompletes will be permitted only in extreme circumstances, such as extended illness or
other situation beyond the control of the student, and then only if the student has
satisfactorily completed a majority of the required course work. To receive a grade of "I,"
you must obtain my permission before the end of the semester.
Academic Integrity: The students, faculty, and administration at Capital University have an
obligation to promote and maintain the highest standards of academic integrity.
Accordingly, each student in this class is expected to become familiar the attached Policy on
Academic Integrity (pages 8 and 9). This Policy defines the various forms of academic
misconduct, presents the penalties to be imposed for infractions, and details the
4

responsibility of the instructor. All students are expected to refrain from all acts of
academic misconduct; failure to do so will result in the imposition of penalties as outlined in
the Policy on Academic Integrity.
You should refer to page 34 of the Student Handbook for a listing of the minimum penalties
imposed for theft or willful mutilation of library materials, including any materials that I
have placed on reserve.
Suggestions for Success in This Course:
Prior to each class you should read at least the portion of the chapter we expect to cover, and
attempt the related homework problems. Do not be tempted to skim over the dollar
examples in the textbook; you must follow through each example closely, understanding
each number in the example.
Take detailed notes during class. You should take notes on everything we discuss, not just
things I write on the board or overhead. Highlighting your textbook as I talk is not taking
notes. Also, your lecture guides do not provide enough space to take adequate notes - use a
notebook or loose paper instead.
Rather than copying down the answers to lengthy homework problems we review in class
for which your answers are incorrect, you may wish to print the answers available on the
course web site.
Review the end-of-chapter discussion questions after we finish each chapter. Doing so
should help you identify your problem areas. Also, review the learning objectives to see
that you have satisfied each one.
Visit the course web site. As currently structured, it gives you access to homework
solutions (including answers to each chapters discussion questions), copies of lecture
slides, copies of all assignments, and a variety of links.
Visit the textbooks web site. It contains a wide range of study aids.
You should study about 3 hours for every class hour (about 12 hours per week). You should
expect to do a lot of work in this course.
Do not fall behind. This is a difficult course to catch up on.
If you have any questions about course materials or are experiencing difficulties in this
course, you should see me as soon as possible.

Final Note: The information contained in this syllabus is subject to change and you are
responsible for all revisions announced in class. Topics listed on the course outline will be
covered as time permits; we could run either slightly ahead or behind of this schedule and
occasional revisions to the outline should be expected.

Intermediate Accounting I
Course Outline
Fall Semester 2003
No.
1
2

Date

Chpt.

Topic

Assignments

Mon.
Wed.

8/25
8/27

1
1

Introduction/Environ. of Acctg
Theoretical Structure of Acctg

Mon.

9/1

--

Labor Day no class

3
4

Wed.
Mon.

9/3
9/8

2
2

The Accounting Process

The Accounting Process

5
6

Wed.
Mon.

9/10
9/15

3
3

Balance Sheet
B.S. and Financial Disclosures

7
8
9

Wed.
Mon.
Wed.

9/17
9/22
9/24

-4
4

Written communication
Exam 1 (Chapters 1, 2, 3), IS
Inc. Stmt. and Stmt. Cash Flows

Financial reporting 1 due

10

9/29
10/1
10/6

5
-5

Income Measurement
Faculty in-service no class
Profitability Analysis

Interview of prof. due

11

Mon.
Wed.
Mon.

12
13

Wed.
Mon.

10/8
10/13

7
7

Cash and Receivables

Cash and Receivables

Financial reporting 2 due

14
15
16

Wed.
Mon.
Wed.

10/15
10/20
10/22

8
8
8

Inventories: Measurement
Exam 2 (Chapters 4, 5, 7)
Inventories: Measurement

17
18

Mon.
Wed.

10/27
10/29

9
9

Inventories: Additional Issues

Inventories: Additional Issues

19
20
21

Mon.
Wed.
Mon.

11/3
11/5
11/10

22
22
22

Statement of Cash Flows

Statement of Cash Flows
Statement of Cash Flows

22
23
24

Wed.
Mon.
Wed.

11/12
11/17
11/19

10
10
10

Operational Assets: Acquisition

Exam 3 (Chapters 8, 9, 22)
Operational Assets: Disposition

25

11/24
11/26
12/1

11

Oper. Assets: Utilization

Thanksgiving break no class
Oper. Assets: Impairment

Ethics paper final draft due

26

Mon.
Wed.
Mon.

27

Wed.

12/3

Catch-up and review

Extra credit 3 due

Tues.

12/9

Final exam (comprehensive

with emphasis on Chapters 10 &
11)

3:30-5:30

11

Extra credit 1 due

Extra credit 2 due

Financial reporting 3 due

Financial reporting 4 due

Intermediate Accounting I
Grading Guidelines
Fall Semester 2003
Grade

Subject Matter

Insight and
Understanding

Expression

Excellence marked by the highest Excellent command of

level of independence, scholarship, inter-relationships within
research, analysis, or performance. the subject and the
highest level of
originality and/or
creativity in approaching
problems.

Excellent proficiency
in oral, written, or
other expression.

Good knowledge of subject matter

and a good manifestation of the
ability to work independently;
demonstrates good scholarship,
research, analysis, or performance.

A good understanding of
the fundamentals and
their inter-relationships;
originality and insight in
approaching problems.

Good level of
proficiency in oral,
written, or other
expression.

Satisfactory knowledge of course

content; satisfactory completion of
course requirements; demonstrates
somewhat uneven scholarship,
research, analysis, or performance.

Basic understanding of
fundamental principles
and an ability to apply
them.

Proficient in oral,
written, or other
expression.

Minimal knowledge of course

content; significant amount of
course requirement not met;
demonstrates low level of
scholarship, research, analysis, or
performance.

Lacks understanding of
fundamental principles
or ability to apply them.

Deficiency in oral,
written, or other
expression.

Failure to meet course

requirements; demonstrates little
scholarship, research, analysis, or
performance.

Failure to demonstrate
understanding of
principles and/or ability
to apply them.

Failure in oral,
written, or other
expression.

Adapted from University Academic Affairs Committee Guidelines, 1999.

Intermediate Accounting I
Policy on Academic Integrity
Fall Semester 2003
The students, faculty, and administration at Capital University have an obligation to promote and
maintain the highest standards of academic integrity. Accordingly, each student in this class
should become familiar with this Policy on Academic Integrity. This Policy defines various forms
of academic misconduct, presents the penalties to be imposed for infractions, and details the
responsibility of the instructor. Each student in this course is expected to refrain from all acts of
academic misconduct. See me immediately if you do not understand any of the provisions in the
Policy on Academic Integrity.
EXAMPLES OF ACADEMIC MISCONDUCT: (these are not all-inclusive)
Cheating

Copying assignments from another student.

Working together on homework, projects, or take-home exams when not specifically

permitted by the instructor.

Looking at and receiving information from another student's paper during an exam.

Allowing another student to take information from your paper during an exam.

Using notes or some other unauthorized aid during an exam.

Submitting an assignment that has been or is being used to satisfy requirements of another

course without the express permission of both instructors.

Sharing information about an exam given in multiple sections of a course.

Plagiarism
Copying someone else's work (words, figures, data, etc.) verbatim without proper attribution

(quotations marks and mention of the author's name).

Copying many words and phrases from someone else without proper attribution.

Copying certain key words and phrases from someone else without proper attribution.

Rewriting (paraphrasing) someone else's work without proper attribution.

Using someone else's argument or idea, which is not common knowledge, without proper

attribution.
Turning in a paper, project, or computer project as one's own that was completed in whole

or in part by someone else.

Attribution can be done using footnotes, endnotes, or parenthetical references. Direct quotations,
even only a few words in length, should be enclosed in quotations. If in doubt, it's generally best
to provide attribution. Check with your instructor if you're not sure how to handle any situation.
Fabrication
Supplying fabricated, invented, or altered information in any academic exercise.
Fabricating all or a portion of a bibliographic entry for a documented project.

Facilitating Dishonesty
Allowing one's own work to be submitted as another student's work for any course

assignment.
Assisting a fellow student to commit an act of academic dishonesty.

Attempting to obtain unauthorized help on a project or exam by offering compensation to

another individual.
Abetting Dishonesty
Observing cheating on an exam, homework, or project without reporting it to the instructor.

Passing answers for an exam from one student to another.

Being aware of plagiarism without reporting it to the instructor.

PENALTIES FOR ACADEMIC MISCONDUCT:

Offense
Cheating on homework or projects
Cheating on an exam
Plagiarism
Fabrication
Facilitating dishonesty
Abetting dishonesty

Minimum Penalty
See below*
Failure in the course
See below*
See below*
Failure in the course
See below*

*Zero on assignment/exam, plus a penalty equal to the number of points on the assignment/exam.
The maximum penalty that I can impose for any infraction is failure in the course, but the
Academic Standing Committee or the Campus Hearing Board may impose further penalties, and
the student's financial aid may be curtailed or eliminated. (See pages 18-19 and 51-59 of the
Student Handbook for discussions relevant to issues of academic integrity.) For instances of
misconduct in which the student does not fail the course, I may impose penalties in addition to
those listed above, such as requiring that additional projects or papers be completed.
RESPONSIBILITIES OF THE INSTRUCTOR:
1. If I suspect that a student is guilty of an act of academic misconduct, I will meet with the
student on a timely basis to discuss the situation. I will notify the student of the decision
regarding guilt or innocence (and the penalty to be imposed, if applicable) within one week of
the meeting.
2. I will take care to protect a student's confidentiality. If I impose a penalty for academic
misconduct, I will notify the student's academic advisor and the Dean of the School of
Management, but will not discuss the infraction with other faculty members unless the student
has been involved in acts of dishonesty in other courses. (If I am aware of multiple acts of
cheating, I will recommend to the appropriate committee that you be either suspended or
expelled from the university.)
3. I will take care to protect the confidentiality of any student who reports an act of academic
misconduct to me. Although I expect that divulging the student's name would rarely be
necessary, I will not divulge the name of the student without first obtaining his or her express
permission.
4. I will make every effort to apply consistent treatment to all students accused of academic
misconduct. However, because academic dishonesty can take many different forms, treatment
of all students may not be identical.
5. Any student who believes that he or she has been unfairly penalized for academic misconduct
should follow the procedures outlined for resolution of a student academic grievance (pages
16-17 of the Student Handbook).

Sources include Student Handbooks from:

Gustavus Adolphus College, 1994-95
Midland Lutheran College, 1993-94
Susquehanna University, 1994
Wartburg University, 1993-94

BUS 311 INTERMEDIATE ACCOUNTING

Data Form
Fall 2003
Name:

Box:
(last)

(first)

(nickname)

Hometown: __________________________________

High School: _______________________________

Campus Phone: _______________________________

Work Phone: _______________________________

Campus E-mail: ______________________________

Work E-mail: ______________________________

Dorm and room number (if on campus): ___________________________________________________________

Local mailing address (if not on campus): __________________________________________________________
Place of Employment: __________________________

Job Title: __________________________________

Duties and Hours Worked: ______________________________________________________________________

Major: ______________________________________

Expected Graduation Date: ___________________

Future Career Interest(s): _______________________________________________________________________

____________________________________________________________________________________________
Do you play on a varsity sports team? ______________

If yes, which ones? _____________________________

Are you involved in other campus activities? ____________

If yes, which ones? _________________________

____________________________________________________________________________________________
Hobbies/other sports/other interests: _______________________________________________________________
____________________________________________________________________________________________
____________________________________________________________________________________________
Please rate your current level of competence in each of the following areas:
Excellent
Word processing
Spreadsheets (e.g., Excel)
Oral communication
Written communication
Teamwork
Leadership
Basic accounting skills
General business knowledge

Good

Average

Fair

Poor