acc490 course syllabus

University of PhoenixCourse Syllabus

ACC490 Auditing

Please print a copy of this syllabus for handy reference.

Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document.

GENERAL COURSE INFORMATION

COURSE NUMBER: ACC490

COURSE TITLE: Auditing

COURSE START DATE: 02/15/2011

COURSE END DATE: 3/21/2011

REQUIRED READING: Students are required to read all materials available at the Course Materials site for this course on http://ecampus.phoenix.edu.

Facilitator Information

Dave [email protected] (University of Phoenix)[email protected] (Personal)(336) 316-5419 (W) (336) 644-2042 (H) (EST)

Facilitator Availability

Best times to reach me during weekdays and on the weekends:Weekdays: 9 AM to 6 PM (EST) Work telephone numberWeekends: 9 AM to 3 PM Home telephone numberAfter hours, please send an email to my personal email address and I will respond the by the next day.

For emergencies, when you are not able to gain access to messages on the Online Learning System (OLS), please send a message to my personal email address.

mailto:[email protected]

mailto:[email protected]

http://ecampus.phoenix.edu/

General Course Description

See Course Description in the Course Materials for this course.

Course Objectives

See Course Objectives in the Course Materials for this course.

The Online Weekly Schedule

Electronic weeks begin on Tuesday and end on Monday.

Day 1 – Tuesday Day 2 – WednesdayDay 3 – ThursdayDay 4 – FridayDay 5 – SaturdayDay 6 – Sunday Day 7 – Monday

Where to Go to Class: The Course Forums

Main: This is the main forum for the class and is where discussion is conducted. It has read-and-write access for everyone.

Chat-Room: This is a read-and-write access forum. It is designed as a place to discuss issues not related to the course content. This is the forum to which we will send our bios.

Course-Materials: This is a read-only forum, which means you can read messages here but cannot send any. This is where I will post the course syllabus and materials.

Learning-Team-A, B, C, D and E: These five Learning Team forums will be used as workrooms for the learning teams. You will be assigned to one of these learning teams.

Individual Forum: You will see one forum with your name on it. This is a private forum, shared only by you and me, the facilitator. Your classmates will not have access to this forum. This is where you receive notice that your assignment was posted to the Assignment’s Area of the Grade book and where you will receive your weekly feedback. You can also ask questions here. However, if you have general questions about instructions of assignments, please post those in the Main forum, since other students may benefit by that exchange as well.

Policies

For class policies please see the “Policies” link on the left side of the classroom. Faculty and student/learners will be held responsible for understanding and adhering to all policies contained within that link. University policies are subject to change so please be sure to read them at the beginning of each class as it may have changed since your last class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities it is important you read the policies governing your current class modality.

How Points and Percentages Equate to Grades:

Every assignment as well as your participation will be assigned points. A weekly breakdown of the points can be found in the Weekly Assignments section of the syllabus. Your weekly feedback will provide you with an up-to-date snapshot of your total point standing in the class. The following grid is the grading scale that will be used for this course.

95 + A

90 – 94 A-

87 – 89 B+

84 – 86 B

80 – 83 B-

77 – 79 C+

74 – 76 C

70 – 73 C-

67 – 69 D+

64 – 66 D

60 – 63 D-

59 or < F

Point Values for Course Assignments

ASSIGNMENTS Points

Individual

GAAS Paper (Week 1) 5

Chapter 1 Textbook Exercises (Week 2) 5

Chapter 5, 6, & 7 Textbook Exercises (Week 3) 5

Chapter 8, 10, & 11 Textbook Exercises (Week 4) 10

Chapter 11& 13 Textbook Exercises (Week 5) 10

Final Exam (Week 5) 15

Participation & Discussion Questions (5 points per Weeks 1 through 4)

20

Team

Auditing, Attestation, and Assurance Services Paper (Week 2)

5

Chapter 6, & 7 Textbook Exercises (Week 3) 5

Assessing Materiality and Risk Simulation (Week 3) 5

Apollo Shoe Case Assignment (Week 4) 7

Audit Sampling Case Memo (Week 5) 8

Total 100

ASSIGNMENTS

Week 1 Assignments

Learning Objectives

See Week 1 objectives listed in the Course Materials or module.

Required Reading

READING ASSIGNMENTS:

Read the materials listed on rEsourse for Week One.

INDIVIDUAL ASSIGNMENTS:

Prepare your biography and post it to the Chat Room forum. This is to be done by TUESDAY. Begin to read and respond to other classmate’s biographies.

Post a brief note in your Individual Forum, indicating that you have read and understand your responsibilities that are outlined in this syllabus. This is to be done by WEDNESDAY.

Answer the discussion questions for WEEK 1. Your answers to the discussion questions are due by THURSDAY to the Main forum. Begin to read and discuss the responses of your classmates.

Generally Accepted Auditing Standards PaperPrepare a 700-1,050-word paper in which you explain the nature and functions of auditing. Relate your explanation to the audit functions in your organization, or an organization you are familiar with. Include a description of the elements of the Generally Accepted Auditing Standards (GAAS), and describe how these standards apply to financial, operational, and compliance audits. Then, explain the effect that the Sarbanes-Oxley Act of 2002, and the Public Company Accounting Oversight Board (PCAOB) will have on audits of publicly traded companies. Finally, discuss the additional requirements that are placed on auditors from this Act, and the actions of the PCAOB.

Post your paper to your Assignment’s Area of the Grade book by MONDAY.

LEARNING TEAM ASSIGNMENTS:

Your Learning Teams will be formed by FRIDAY of the first week. Once you have been assigned to a team, you will need to perform the following:

Check into the Learning Team forum that you have been assigned. Post a brief note indicating you have made your way to the team.

Begin to communicate with the other members of your team. Exchange important information, such as email address, phones numbers, etc.

Complete your Learning Team Charter, select a team leader and post the Charter to the team leader’s Individual Forum by Monday.

Begin working on your team assignment that is due during Week 2

Discussion Questions

Discussion question responses will count towards the class participation requirement.

Only posts in the Main classroom forum will count towards your class participation score.

All Week: Participation - Remember to participate in the class discussions 4 out of 7 days during the week.

Summary of Week 1 Deliverables

Assignment Individual or Learning

Team

Location Due

GAAS Paper Individual Assignment Area of the Grade book

Monday

Answers to the Discussion Questions

Individual Main Forum Thursday

Week 2 Assignments

Learning Objectives


Required Reading


Read the materials listed on rEsourse for Week Two.


Answer the discussion questions for WEEK 2. Your answers to the discussion questions are due by THURSDAY to the

Main forum. Begin to read and discuss the responses of your classmates.

Assignments from the ReadingsPrepare written answers to the following assignment from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting, (8th edition), by Boynton and Johnson:Chapter 1: Comprehensive Question 1-23 – Organizations associated with the public accounting profession.

Post your answers to your Assignment’s Area of the Grade book by MONDAY.


Auditing, Attestation, and Assurance Services PaperPrepare a 1,050-1,400-word paper in which you compare and contrast auditing, attestation, and assurance services. In your paper, be sure to include the following:1. An example of each type of service2. Who might request such a service3. What standards apply to each service and who

establishes those standards

Select a team leader and post your team’s assignment in the Assignment’s Area of the Grade book by SUNDAY.







Location Due

Team

Problems from Text Individual Assignment Area of the Grade book

Monday

Auditing, Assurance & Attestation Paper

Team Assignment Area of the Grade book

Sunday



Week 3 Assignments

Learning Objectives


Required Reading


Read the materials listed on rEsourse for Week Three.



Assignments from the ReadingsPrepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting, (8th edition), by Boynton and Johnson:4. Chapter 5: Comprehensive Questions 5-30 – Assertions5. Chapter 6: Comprehensive Questions 6-22 – Audit

Evidence6. Chapter 7: Comprehensive Questions 7-22 –

Understanding the Entity and its Environment



Assignment from Text

Prepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting, (8th edition), by Boynton and Johnson:1. Chapter 6: Comprehensive Question 6-26 – Audit

Programs and Assertions7. Chapter 7: Case 7-25 – New Client Acceptance, part b only


Assessing Materiality and Risk SimulationComplete the simulation “Assessing Materiality and Risk” located on rEsourse. After completing the simulation, prepare a 350-word response to following questions:1. Why do certain accounts have to be audited 100 percent?2. Why is materiality allocated only to those accounts that

are sampled?3. Is any component of audit risk within the control of the

auditor? Explain.4. How are the three risks that make up audit risk inter-

related?

Select a team leader and post your team’s assignment in the Assignment’s Area of the Grade book by MONDAY.







Team

Location Due


Monday

Assignment from Text Team Assignment Area of the Grade book

Sunday

Assessing Materiality and Risk Simulation


Monday



Week 4 Assignments

Learning Objectives


Required Reading


Read the materials listed on rEsourse for Week Four.



Assignments from the ReadingsPrepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting, (8th edition), by Boynton and Johnson:

2. Chapter 8: Comprehensive Questions 8-16 – Analytical procedures

8. Chapter 10: Comprehensive Questions 10-32 – Components of Internal Control

9. Chapter 11: Comprehensive Questions 11-21 – Assessing Control Risk



Apollo Shoes Case AssignmentUsing the Apollo Shoes Case materials, available under the Assessment section of Week Three of your rEsourse page, complete the “Internal Control” audit section of the case.Before completing this section, review the “Planning” section, with emphasis on the Apollo Accounting and Control Procedures Manual and the Apollo Shoes Minutes.

1. Select a team leader and post your team’s assignment in the Assignment’s Area of the Grade book by SUNDAY.







Team

Location Due


Monday

Apollo Shoe Case Team Assignment Area of the Grade book

Sunday



Week 5 Assignments

Learning Objectives


Required Reading


Read the materials listed on rEsourse for Week Five.


Complete the Final Exam that is posted in the Course Materials forum that encompasses all sections we covered in the text. Post your answers for the FINAL EXAM to your Assignment Area of the Grade book by Monday.

Prepare written answers to the following assignments from the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting, (8th edition), by Boynton and Johnson:3. Chapter 11:

a) Learning Check 11-6 b) Learning Check 11-8c) Learning Check 11-9

10. Chapter 13: Learning Check 13-8


Post a 150-200-word summary in the Main forum on MONDAY that includes insights and understandings you have gained as a result of your participation in this course. To do this answer the following questions:

1. What are some of the most important concepts you have learned?

2. How will these concepts impact you personally and professionally?

3. How do you plan to use the concepts you learned in your workplace?

4. Any additional notes or observations you may have.

Learning Team Evaluation

Each team member is to prepare a learning team evaluation and post it in their Individual Forum by Monday.


Audit Sampling Case Memo

Prepare a 1,400-1,750-word memo to the Audit Partner, John Smith, summarizing your findings from the following case found in the text Modern Auditing: Assurance Services and the Integrity of Financial Reporting, (8th edition), by Boynton and Johnson:Chapter 13: Case 13-36 – Mt. Hood Furniture—PPS Sampling Problem


Final Week Requirements

Discussion question responses will not be required during the final week of the course. The final week will be dedicated to completing the week’s assignments listed below.



Team

Location Due

Final Exam Individual Assignment Area of the Grade book

Monday


Monday

Course Summary Individual Main Forum Monday

Learning Team Evaluations

Individual Individual Forum Monday

Audit Sampling Case Memo


Sunday

CERTIFICATE OF ORIGINALITY:

Please use the Certificate of Originality, which is posted in the Course Materials forum, for all of your Individual and Learning Team papers. The cover letter is in APA format and should be used as the title page for your paper. Let me know if anyone has any questions.

PARTICIPATION:

I would like to share some thoughts with you concerning participation and outline my expectations for the class. Participation is a different concept than attendance. While the University automatically tracks attendance, I will grade your participation. Participation is an important part of this online learning environment. I encourage you to ask questions, challenge your fellow classmates and myself if you don’t agree, and share your ideas and experiences with the group. The discussions that occur in the Main forum are an important part of the learning experience you will encounter in this class.

You will be expected to participate in the classroom discussions in a substantive way by posting at least two messages on four out of seven days each week. Your postings must be made to the Main forum and provide an indication that you are actively participating in the discussions. Simply responding “I agree” or “Good point” does not qualify as substantive participation. Posting to the Chat room will not count toward the participation requirement. Also note that posting to your Team forum counts toward your team project grade but not to your overall participation grade for the course.

PARTICIPATION – WEEK 5

I will NOT require that you participate 4 out 7 days in the Main classroom during week 5, therefore, you will not receive a participation grade for this week. The time can be spent working on your team project(s), final exam and/or your final paper. I will post discussion questions in the Main classroom from the lecture material and you can answer them at your discretion. I will be available to answer any and all of your questions during the final week of class. Please note that you will still need to meet the attendance requirement for week 5, therefore, you must make a posting to any of the forums on at least 2 of the 7 days.

GRADING OF PAPERS:

Seventy (70) percent of the grade will be based on the quality of the content of the papers. Thirty (30) percent of the grade will be based on the finished paper form and style, i.e., grammar, spelling, organization, and logical flow.

FEEDBACK ON ASSIGNMENTS:

Feedback on your team assignments will be sent out to your Individual Forum within six days from the assignment due date. I will send Weekly Feedback to your Individual Forum within six days of the completion of the week. Your weekly feedback will include any feedback for individual and team assignments that were submitted.

LATE ASSIGNMENTS:

I will deduct up to 10%, from the total possible points for an assignment, for each day an assignment is late. NO EXCUSES WILL BE ACCEPTED, SO PLAN ACCORDINGLY. Remember, an assignment is considered late if the posting has not occurred on or before 11:59 MST (Mountain Standard Time).

Also as a reminder, it is your responsibility to determine if your assignment made it to the Assignments Forum with any and all attachments. I will not be emailing you to let you know if your assignment made it to folder.

Failure to post your answers to the Final Exam will result in the loss of 1 full letter grade.

INCOMPLETES:

I will not grant an incomplete for this course.

LEARNING TEAMS:

By Friday of week 1 of the course, your learning teams will be formed and you should check into your assigned forum. The teams will be comprised of four to five students in the classroom. If there are individuals you would like to work with, please post a note in your Individual Forum, prior to THURSDAY of the first week. I will post a roster of the learning teams by Friday evening of the first week. The teams I form generally are based on student’s time zones to make it easier to communicate among the team members. For organizational purposes, I encourage you to communicate with your team members outside of the classroom setting. For any outside meetings that take place, please have one of the team members prepare a summary of the discussion and place it in your Learning Team Forum.

By Monday of the first week, learning teams will have completed a Learning Team Charter. Select a team leader and have that individual post the Charter in their Individual Forum.

The teams will be required to complete various exercises over the next five weeks. A detailed description of each of the team assignments is presented in the weekly assignment section of this syllabus. Part of your Final grade will represent your input into the team assignments. I will monitor the team forums to determine the overall level of participation by each team member.

Team members do have the right to exclude a team member from an assignment if they feel the team member did not participate on the assignment. I will review these cases on an individual basis, if they should occur.

POSTING TEAM ASSIGNMENTS:

In order to facilitate the posting of team assignments, each week a team assignment is due you will need to select a team leader. It will be the team leader’s responsibility to post the assignment in the Assignment Area of the Grade book. Failure to post on time will result in late penalties. I will post a note in the Main forum each week requiring each team to identify the team leader for the week.

OTHER ITEMS:

Outlined below are a few other items you should consider during the course of this class.

1. Use 12pt font size for all of your postings. You can use any font setting and color, but keep in mind your classmates and I need to be able to read what you are posting.

2. For all assignments make sure you have placed your name somewhere on the document, preferably at the top. For team assignments, please list all team members who participated on the assignment.

3. Make sure you have your spell checkers “on and operating” for all assignments that you and your team post. While correct spelling and good grammar will not enhance your grade, misspelled words and improper grammar will cost you points. In order to keep the discussion fresh and spontaneous, general discussion in the Main forum will not be graded for spelling or grammar.

4. If you will be out of town for an extended period of time during the class, make sure you have a backup plan. Remember, you still must fulfill the University’s attendance and participation policies even if you are out of town.

5. Try not to fall behind, as it will be difficult to catch up. This is an accelerated program and the assignments have clearly defined due dates.

6. HAVE FUN!! Don’t hide your humor; I know there will be days when I could use a good laugh.

7. Finally, if you have any questions on anything in this syllabus or anything else, please ask. I look forward to working with you and having a great learning experience.

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acc490 course syllabus

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