Course: Accounting 407-900 (12:45-2:00 TR, WCBA 104)
Instructor: Dr. L. M. Smith, CPA, Professor of
Accounting.
Office: WCBA 460D, Phone: 845-3108, E-mail: Lmsmith@tamu.edu
Homepage:
http://acct.tamu.edu/smith
Office Hours: Monday & Friday 4:00-5:00, Tuesday 11:45-12:45,
or anytime by appointment .
Required Textbooks:
1. Auditing and Assurance Services,
1st Ed.; T. Louwers, R. Ramsay, D. Sinason, and
J. Strawser, 2005;
Boston: McGraw-Hill Irwin, ISBN 0-07-281835-2.
2. Microsoft Excel for Accounting:
Auditing and AIS, 2nd Ed. (not 1st); Smith, Smith,
and Smith; 2002; Prentice
Hall, ISBN: 0130085529.
3. Computer Encryptions in Whispering
Caves, 2nd Edition (not 1st); Smith; 2006; Thomson
Corporation.
Packaged with Sarbanes-Oxley Guide.
=====================================================================
Date
Assignment
=====================================================================
NOTE: Q=text chapter questions, problems, and cases.
MSE=assignments from Microsoft
Excel
for Accounting: Auditing and AIS.
"[T]hat we here highly resolve that these dead shall not have
died
in vain; that this new nation,
under
God, shall have a new birth of freedom; and that government of the
people, by the
people, and for the
people, shall not perish from the earth" (The Gettysburg Address,
President Lincoln, November 18, 1863).
"Standing in the middle of the road is very dangerous; you get
knocked
down by
the traffic from both sides" (Margaret Thatcher).
Jan
24
Guest Speaker: Michael Smith, Research and Library Resources.
Jan
26
Quiz #1 (Don’t forget scantron form).
Ch2 Q 2,4,7,10,43, MSE 1 (p55) and MSE 2 (change
beginning
inventory from
75K to 90K; ending inventory from 20K to 60K).
"A people that values its privileges above its principles soon loses
both"
(Dwight D. Eisenhower).
Jan
31
Quiz #2 (Don’t forget scantron form).
Ethics in Business & Society
Module B – Professional Ethics; Prepare two-page report on accounting
ethics.
One page is the body of the report and the second page is the
References
page.
To receive an "S" grade, you should cite at least 3 sources (e.g.
websites)
for
your report. Use the references style shown in the example
paper. For an "E" grade,
you must prepare a 4-page report with at least 6 sources. Grading will
be based
on rubric and will include peer review in groups.
Feb
2
Quiz #3.
Ch3 Fraud & Audit Risk; Q 1,5,8,13,17,18.
Meet with your Audit Team (i.e., group).
"If we want to produce people who share the values of a democratic
culture,
they
must be taught those values and not be left to acquire them by chance"
(Cal Thomas).
Feb
7
Quiz #4.
Ch4 Engagement Planning; Q 3,7,9,17, MSE #6,7,8 (MSE#6 started and
MSE#8 started).
Feb
9
Test #1, Ch 1-4.
"I knew wherever I was that you thought of me, and if I got in a
tight
place you
would come -- if alive" (General W.T. Sherman, in a letter to General
U.S.
Grant).
"A good name is more desirable than great riches; to be esteemed is
better than
silver or gold" (Proverbs 22:1).
Feb 21-23 Veritas Forum at Texas A&M
Feb
21
Quiz #5.
Ch5 Internal Control; Q3,7,13,14.
Feb
23
Quiz #6.
Ch6 Employee Fraud; Q 1,2; MSE #13.
"It is high time that the ideal of success should be replaced by the
ideal of
service" (Albert Einstein).
Feb 28
Red
Flags. Module G Variables Sampling;
MSE #26,30 (see
example file: Variable.xls).
Mar 2
No class: Meet with audit case team.
"Is life so dear or peace so sweet as to be purchased at the price
of chains and
slavery? Forbid it, Almighty God! I know not what course
others may take, but
as for me, give me liberty, or give me death!" Patrick Henry).
Mar
7
MSE Audit Case Problem Due in class today.
Review Audit Case.
Mar 9 Quiz
#7 (Over Ch7).
Ch7 Revenue Cycle; Q 5,6,7,8.
Ch8 Expenditure Cycle; Q1.
"Mine eyes have seen the glory of the coming of the Lord; He
is
trampling out
the vintage where the grapes of wrath are stored; He hath loosed the
fateful
lightning of His terrible swift sword; His truth is marching on.
...He is
wisdom to the mighty, He is honor to the brave;... (Battle Hymn
of the
Republic)
Mar 13-17 Spring Break.
"Associate with men of good quality, if you esteem your own
reputation;
for it
is better to be alone than in bad company" (George Washington).
Mar 21 Test
#2,
Ch 5-8, Computer Encryptions Ch 1-15.
Mar 23 Ch9
Production
Cycle, Q 1,3,7,17,31.
Meet with Role-Play Group.
"With malice toward none; with charity for all; with firmness in the
right, as
God gives us to see the right, let us strive on to finish the work
we are in. (President Lincoln's second inaugural address, March 4,
1865).
Mar 28
Role-Play
Outline Due.
Quiz #8.
Ch10 Financial Cycle, Q 1,13,16.
Mar 30 Quiz #9.
Ch11 Complete the Audit, Q 1,5,20.
"...It is rather for us to be here dedicated to the great task
remaining
before
us -- that from these honored dead we take increased devotion to that
cause for
which they gave the last full measure of devotion; that we here highly
resolve
that these dead shall not have died in vain; that this new nation,
under God,
shall have a new birth of freedom; and that government of the people,
by the
people, and for the people, shall not perish from the earth"
(The Gettysburg
Address, President Lincoln, November 18, 1863).
* Last Day to Q-drop is April 3*
Apr
4
Quiz #10.
Ch12 Audit Reporting, Q 31.
Audit reporting expert system assignment on the Web: Use Audport to
determine the audit opinion
for Situations 1-12. You can print out the
assignment page
and write your answers in the space after "Type of Opinion."
Apr
6 Guest
Speaker:
Agent Angel Martinez, FBI.
"To sin by silence when they should protest makes cowards of men"
(Abraham
Lincoln).
"My country, 'tis of thee, Sweet land of liberty, Of thee I sing;...
Long may our land be bright, With freedom's holy light;
Protect us by Thy might, Great God, our King." (America, Samuel
F. Smith)
Apr 18 Review
Test.
Web
Resources
for Accountants. Read the article on the Web on
accounting and auditing websites:
(http://www.nysscpa.org/cpajournal/2001/0100/dept/d016001a.htm).
Apr 20
International Auditing Issues.
Video: Going International.
*Turn
in Role-Play Video
(with report) in class today.*
"Freedom is the natural condition of the human race, in which the
Almighty
intended men to live.
Those who fight the purpose of the Almighty will not succeed. They
always have been, they
always will be beaten." (President Abraham Lincoln, 1861).
Apr 25 Watch
roleplay
presentions.
*Last
Day to turn in late homework and extra credit project.*
Apr 27 No Class -
Roleplay
presentations were all shown on Apr 25.
"O beautiful for spacious skies,... O beautiful for heroes
proved
In liberating
strife, Who more than self their country loved, And mercy more than
life!
America! America! May God thy gold refine, Til all success
be nobleness And
every gain divine! (America the Beautiful, Katherine Lee Bates)
May 2 No Class
- Today is redefined as Friday.
You can stop by my office
between 12:45 and 5:00 pm to check your grades
going into the final. If
this isn't convenient and you want to check your grades,
you can email me to set up
another time.
COMPREHENSIVE FINAL EXAM (TAMU finals are May 5, 8-10):
407-900 Comprehensive Final Exam
is May 10, Wednesday, 8-10 a.m. Results.
Accounting 407 presents auditing theory
and concepts. Specific objectives are as follows:
1. To examine the auditing environment.
2. To consider major auditing issues facing
the profession.
3. To explore auditing problems associated
with a computerized AIS.
4. To introduce students to microcomputer
applications in auditing.
5. To improve your team-building,
presentation,
and research skills.
Grading Structure:
Four exams @ 100 points
each
400
Quizzes, 10 @ 10 points
each
100
Writing assignments:
Reports, textbook questions, Excel
problems
75
Group Project (audit
case)
50
Group Project (Role-Play & Term
Paper)
75
----
Total points
possible
700
===
Grading Scale: 630-700 points = A;
560-629 = B; 490-559 = C; 420-489 = D; Below 420 = F.
Class participation involves making positive contributions in the classroom. During my 20 plus years of college teaching, I have noted that coming to class prepared (e.g. having homework done) is closely linked to a student's ability to make a positive contribution. Furthermore, prior research has shown that class attendance is the only factor significantly correlated to grades. In other words, coming to class should result in your making a better score on tests and quizzes, and ultimately on your final grade.
Writing
Assignments:
Written assignments include individual and group assignments.
Written assignments consist of end-of-chapter auditing textbook
questions,
short reports, term papers and assignments from the Microsoft
Excel for Accounting book (including an auditing case problem
group
project). In addition, as part of the role play assignment, a term
paper
about some aspect of auditing is due near the end of the term. Late
assignments
will be penalized but can be submitted until the last day to turn in
late
assignments shown on the syllabus. Feedback will be provided in three
forms:
written grade on the returned assignment, discussions in class, and if
necessary, one-on-one meetings with the instructor. For writing help,
visit
the University Writing Center (http://writingcenter.tamu.edu/).
In all your writing, be careful to avoid plagiarism. The Texas A&M
University Student Rule 20, defines plagiarism as follows: "The
appropriation
of another person's ideas, processes, results, or words without giving
appropriate credit." You should read the following article, "Avoiding
Plagiarism: The How's and Why's." Writing assignments will be graded
according to the following rubric (% of grade):
| Excellent | Satisfactory | Weak | Poor | |
| Ideas | 40 | 36 | 20 | 0 |
| Development | 20 | 18 | 10 | 0 |
| Audience/Genre | 10 | 9 | 5 | 0 |
| Organization | 10 | 9 | 5 | 0 |
| Spelling | 10 | 9 | 5 | 0 |
| Punctuation, Grammar & Usage | 10 | 9 | 5 | 0 |
For group (team) projects, each group member is responsible for
the
entire project. Typically, the work is divided among the group members.
When this is done, a consistency of style problem may be created. The
writing
style of each person varies and the project may read as if it has been
written by different people. Therefore, the group should edit the
entire
document so that the “flow” does not change from one section to the
next
and that conclusions reached are not incongruous with the other
sections
of the project.
Extra Credit:
By preparing term paper, you may earn up to 5 points of extra credit (bonus points). You must get approval from Dr. Smith in advance before starting this assignment (no later than half-way through the semester). Requirements: (1) Thoroughly research an audit-related topic; the topic must be approved in advance by the instructor. (2) Possible topic areas include analysis of infamous audit cases (e.g. Enron) new audit technology, internal control, internal auditing, business fraud, and money laundering. (3) The report should include an introduction, major points, analysis, and conclusion. (4) The report must include 8 to 10 pages of double-spaced text, 2 to 3exhibits, a references page of at least 12 references (journal articles, books, and Web sites referred to in the paper). (5) The paper must be prepared in good form (The Accounting Review style). (Example Paper)
Ethics and Scholastic Dishonesty:
The accounting profession has a long-established reputation for
its high level of ethical conduct. The reputation reaches into
the
academic arena where the profession’s future leaders are being
prepared.
Consequently, accounting students are expected to conduct themselves in
a manner that is above reproach in their own course-related
actions.
Scholastic dishonesty is discussed in Honor Council Rules and
Procedures.
Dishonest acts include, but are not limited to: copying, sharing, or
obtaining
information from any unauthorized source during examinations, quizzes,
or other assignments; attempting to take credit for the intellectual
creation
of another person; falsifying information; giving information about a
test,
quiz or assignment to students in the same or other sections of the
course.
I believe in the Aggie honor code:
An Aggie do not lie, cheat or steal
or tolerate those who do.
Unless otherwise specified, all work is to be done individually. Scholastic dishonesty will not be tolerated. The full consequences of scholastic dishonesty will be pursued, consistent with university policy as it appears in the Honor Council Rules and Procedures (http://www.tamu.edu/aggiehonor).
For all assignments, I expect each student to be able to sign the following statement:
"On my honor, as an Aggie, I have neither given nor received unauthorized aid on this academic work."
______________________________
Signature of student
Other
policies:
ADA Statement. The Americans with Disabilities Act (ADA) is a
federal
anti-discrimination statute that provides comprehensive civil rights
protection
for persons with disabilities. Among other things, this
legislation
requires that all students with disabilities be guaranteed a learning
environment
that provides for reasonable accommodation of their disabilities.
If you believe you have a disability requiring an accommodation, please
contact the Department of Student Life, Services for Students with
Disabilities
in Room 126 of the Koldus Building, or call 845-1637. Please let me
know
if I can be of assistance with any special needs; I will do everything
that I can to help all my students with their educational process.
Final Exams. When a student is scheduled for three final
examinations
in one day, the student may request his or her dean rescheduling of one
of the three examinations. The dean, department head, and faculty
member will make every effort to accommodate the student when a request
is made.
The audit case problem is contained in your Microsoft Excel for Accounting: Auditing and AIS textbook on pages 100-110. Working paper files may be obtained from the book's website (http://www.iolbv.com/murphy/excel4acctAA/). Members of each small group will work together as an audit team to complete the case problem. Each group will submit the audit work program (dated and initialed according to which team member completed each task) and all related worksheets. In addition, a one-page memorandum, summarizing the procedures and findings, is required for each of the 4 parts of the audit program. This will result in a "S" grade on the audit case problem. For an "E" grade, you must also prepare a report about the Sarbanes-Oxley Act, consisting of 8 to 10 pages of double-spaced text, 3 exhibits, and a references page of at least 10 references (journal articles, books, and Web sites referred to in the paper). The paper must be prepared in good form (see Example Paper).
(2) ROLE-PLAY PRESENTATION (WITH GROUP TERM PAPER) ASSIGNMENT:
Role-Playing Video Presentation: Groups of 6 to 10 students will be assigned to develop a term paper and a corresponding role-play presentation. The term paper requirements are as follows: (1) Thoroughly research an audit-related topic; the topic must be approved in advance by the instructor. (2) Possible topic areas include analysis of infamous audit cases (e.g. Enron) new audit technology, internal control, internal auditing, business fraud, and money laundering. (3) The report should include an introduction, major points, analysis, and conclusion. (4) The report must include 5 to 6 pages of double-spaced text, 2 exhibits, a references page of at least 6 references (journal articles, books, and Web sites referred to in the paper). (5) The paper must be prepared in good form (The Accounting Review style).
The role-play presentation should last about 8 to 10 minutes and be based on characters, concepts, or situations related to auditing (you may base the presentation on a scene from the educational novel or other sources). Each group will be required to submit a typed report and videotape of their presentation. If obtaining a video camera for filming is a problem, please see your instructor for special arrangements. Your typed report should include the following: 1. a working title of the presentation (e.g. "Hazards of E-Business"), 2. the group number and names of group members, 3. a "screen play" of the presentation (including props to be used), 4. the goals of the presentation (e.g. to show how an interview should be conducted and what to watch for, how an expert system works, the effects of subliminal persuasion, etc.), and 5. how these goals were achieved by the presentation.
The key to effectively completing this assignment is proper planning. Before the group begins filming, the script should be prepared and rehearsed. Any necessary props should be obtained and on-hand. Each member of the group should conscientiously fulfill his or her part of the assignment. When filming, be sure to include the title of the presentation and names of the group members at the beginning of the film (you can write this information on paper and film it for 8 or 10 seconds). Filming tips: Keep your light source above or behind your subject. For better sound, avoid zooming in; instead, bring your camera close to subjects. This will also highlight action and facial expressions.
Prior to submission of the report and tape, an outline of the
presentation
must be submitted. The date the outline is due is shown on your
syllabus.
The outline should follow the same format as the report, except the
screen
play does not have to be in a word-for-word format but only in an
outline
format. The report and tape will be graded by Dr. Smith. Also,
the
class will view and evaluate the tape. Both report and tape will
be evaluated for originality, creativity, drama/humor, technical
quality
(can you hear it? can you see it?), and educational merit. The
presentation
should stimulate interest in the subject matter through a more
captivating
format than a simple lecture.
A final note: The film should receive a "G" or "PG" rating.
Humor (inoffensive) and action are highly encouraged. Do not clip
scenes from TV programs or movies. Do not use names of real
people
(that includes Dr. Smith); use only fictional characters.
1. Name:
Major:
Any prior classes with Dr. Smith?
2. What's your background? (e.g. Where are you from?
or Why did you pick Texas A&M?)
3. Work Experience:
a. Currently working? If so, briefly describe:
b. Previous business work experience:
(Briefly
describe)
c. Other work experience: (Briefly
describe)
4. Overall GPR: __________
5. Member of Beta Alpha Psi: Yes No
6. Career Interests:
7. Who's someone you admire? Why?
8. What's a movie or book you like? Why?
9. How do you define success?
10. Anything else you would like to tell me (you may use the back
of this form): (e.g. do you want to sit on the front row?)