Various institutions regulate the specification and application of accounting methods. These institutions include governmental institutions, such as the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS); as well as private institutions, such as the American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Standards Board (FASB). The combined activities of these institutions have a significant and widespread influence on the practice of accounting. To succeed in the profession of accountancy, students must develop an understanding of the institutional, regulatory, and legal environment that affects accounting. In addition, students must understand the accounting rules, standards, and practices that these institutions promulgate. In order to accomplish this, students also must develop applied research skills using library services and computerized search systems.

The objectives of this course include the following:

This course is part of the accounting curriculum known as "Project Discovery" (PD). Project Discovery courses are taught very differently from many other college and high school courses, which primarily employ a "Lecture/Exam" format. You are probably very good at learning within the "Lecture/Exam" format—you know how to read a textbook that delivers facts and ideas in a very concentrated manner and to take notes during a lecture that delivers facts and ideas in a similar manner. You also have learned how to memorize those facts and ideas—either by keeping up during the semester or by "cramming" just prior to exams. During the exams you primarily demonstrate this learning by reproducing the facts and ideas gained from your lecture notes and readings.

In contrast to this traditional method of learning, Project Discovery courses do not employ a "lecture/exam" format. Reading assignments are not a concentrated delivery of facts and ideas. They have one or more key points to make—they use facts and arguments to support those key points. We read articles, not to memorize the facts (as you would a textbook), but to understand the key points and to evaluate the persuasiveness of the arguments. We then discuss the readings in class. Through this discussion, an even greater understanding will be gained. When each class session is over, you should be conversant in the key ideas presented in the readings and related discussion, and be able to respond to related questions on written assignments, quizzes and examinations.

Success in this course will require that you adapt to a different way of learning. Learning in this course is not passive—you cannot wait for the professor or the textbook to "spoon-feed" you the important concepts and ideas. Learning will be active—you will learn by personal analysis of the readings and by interactions with other students and the professor; both in class and in preparation of individual and group assignments.

Success in this course requires reading all assigned articles before class. Without reading the assigned readings, the class discussion will be incomprehensible. In addition, you will not be able to meaningfully participate in the discussion (class participation represents a significant portion of your grade). In addition, since so much of the learning occurs through class discussion and debate, attendance in class is paramount to your success.

Classes will be conducted using lectures, discussions, active learning exercises, and student presentations. Each student is expected to be prepared: study the assigned reading material, prepare the homework assignment, and participate fully in discussions and learning exercises. In group assignments, all members are expected to contribute equally. Poor performance in this class is generally linked to inadequate preparation for class meetings.

Points will be allocated as follows:

All written assignments must be typed (or computer printed), double-spaced (unless explicitly stated otherwise), with one inch margins, using a 10 or 12 character per inch font. Maximum lengths for each assignment will be designated.

During the semester three group projects will be assigned. The instructor will assign students to groups with a goal that each student will work with another student no more than one time during the semester. Thus, groups will vary across each individual project. Peer evaluations will be used to determine each member’s contribution to the group project.

A substantial portion of your grade is earned via in-class participation. Class participation can be earned in several ways—active participation in class discussions, volunteering a response to instructor questions, asking a pertinent question during lecture/discussion, or responding to an instructor "cold call." Class participation grades will be based on (1) daily class participation reports, and (2) peer evaluation. No class participation points are earned merely by attending class. In addition, missing class will adversely affect your class participation grade.

If you believe that there is an error in the scoring of any assignment, you must submit a written request for re-grading within one week from the time the assignment is returned in class.

The Code on Campus Affairs and Handbook of Policies and Regulations Applying to All Students (August 1997), Section 33, states: "It is the responsibility of the student to refrain from infractions of academic integrity, from conduct that may lead to suspicion of such infractions, and from conduct that aids others in such infractions. It is the responsibility of the faculty to establish and maintain an environment that supports academic integrity." I will fulfill my responsibility in this regard, and I expect you will fulfill yours.

This is the tentative schedule for the semester. At times your section might be slightly ahead or behind.