Home page Accounting Department University of Arkansas - Monticello Home Page


Fall 2014 - Section 100901 9:40 - 11:00 A.M. Tuesday Thursday Room 304
Dr. Ted M. Hammett
Office - 317 BBC
(870) 460-1641 Office


ACCT 3403 : Intermediate Accounting I

ACCT 3413 : Intermediate Accounting II

ACCT 3523 : Intermediate Accounting III

 Office Hours:

My office hours are posted on my door and on my website which is given above.

Purpose & Objectives of the Course:

The auditing course at UAM is to provide the student with the tools needed to understand the functions of an auditor, and learn the procedures necessary to gather and evaluate evidence supporting an entity’s financial statements.  In addition it will help the student learn how to assess the fairness of financial presentation, and give them the opportunity to apply some of the concepts learned.

Required textbook and materials:

Louwers, Timothy, Robert Ramsay. Principles of Auditing and Other Assurance Services. 5th Boston, MA: McGraw-Hill - Irwin, 2013.  ISBN:  978-0-07-802544-0

Clicker ISBN:  978-1934931455

Requirements for evaluation (everything is of equal weight):

Homework 100 points
After Chapter 3   100 points
After Chapter 6   100 points
After Modules B, C, &E   100 points
After Modules F, G, & H   100 points  
After Chapter 12 (Final Exam) Note:  Post test counts as 20% of your final  100 points
Homework counts as one test Clicker Quizzes go to homework grade    

Grading Policy:

Because of the bonus opportunities and take-home portions on all tests except the final the following grades are given without appeal:

100  -  90  =  A                                                          79  -   70  =  C

  89  -  80  =  B                                                          69  -   60  =  D

Below 60  =  F


Additional Bonus Opportunities:

Bonus points are possible with a bonus question on all in-class tests including the final exam.  They are worth 3 points each.  In addition, there is an opportunity to take quizzers on line which will provide 3 points added to the average for a perfect score, (you can receive a prorated portion of those point). NOTE: The testing policy is - If you have to take a test late you will forfeit 10 points for each day late that you take the test late (not counting weekends).   More than three days late in taking the test will result in a grade of zero ("0").

There is no exemption from the final exam in this class so don't even ask.

Your performance in this subject is directly correlated with your doing the homework and all class assignments.  Homework will be taken up and graded at random during the semester.  This grade will be applied to the homework portion of the evaluation and is equivalent to a test grade.

Attendance Policy:

As part of the requirement of the University I will be taking attendance for each class period.  I have an attendance policy as documented in the "absence and Grading Policy" attached to this outline.   You are all adults and have paid for this course, don't cheat yourself by not attending class.  As a professional, you will be expected to be responsible for showing up for work and accomplishing the tasks required of you.  LAST DATE TO DROP WITH A "W" October 29, 2014.

Student Conduct Statement:

The following action is prohibited under the Student  Conduct Code: Disorderly Conduct: Any behavior which disrupts the regular or normal functions of the University community, including behavior which breaches the peace or violates the rights of others.

Warning:  I will not tolerate phone texting in my class.  The first time is a warning after that you will lose points off of your test average (All tests) at the rate of 5 points for each infraction.

            Students at the University of Arkansas at Monticello are expected to conduct themselves appropriately, keeping in mind that they are subject to the laws of the community and standards of society.  The student must not conduct him/herself in a manner that disrupts the academic community or breaches the freedom of other students to progress academically.


Academic Dishonesty:


1.      Cheating:  Students shall not give, receive, offer, or solicit information on examinations, quizzes, etc. This includes but is not limited to the following classes of dishonesty:

a.       Copying from another student’s paper;

b.      Use during the examination of prepared materials, notes, or texts other than those specifically permitted by the instructor;

c.       Collaboration with another student during the examination;

d.      Buying, selling, stealing, soliciting, or transmitting an examination or any material purported to be the unreleased contents of coming examinations or the use of any such material;

e.       Substituting for another person during an examination or allowing such substitutions for oneself.

2.      Collusion: Collusion is defined as obtaining from another party, without specific approval in advance by the instructor, assistance in the production of work offered for credit to the extent that the work reflects the ideas of the party consulted rather than those of the person whose name in on the work submitted.

3.      Duplicity: Duplicity is defined as offering for credit identical or substantially unchanged work in two or more courses, without specific advanced approval of the instructors involved.

4.      Plagiarism: Plagiarism is defined as adopting and reproducing as one’s own, to appropriate to one’s use, and to incorporate in one’s own work without acknowledgement the ideas or passages from the writings or works of others.


For any instance of academic dishonesty that is discovered by the instructor, whether the dishonesty is found to be cheating, collusion, duplicity, or plagiarism, the result for the student(s) involved will be a zero on that specific project and if it happens a second time a zero in the course.


Students with Disabilities:

It is the policy of the University of Arkansas at Monticello to accommodate individuals with disabilities pursuant to federal law and the University’s commitment to equal educational opportunities. It is the responsibility of the student to inform the instructor of any necessary accommodations at the beginning of the course.  Any student requiring accommodations should contact the Office of Special Student Services located in Harris Hall Room 120; phone 870 460-1026; TDD 870 460-1626; Fax 870 460-1926; email:  whitingm@uamont.edu.

For assistance on a College of Technology campus contact:

McGehee: Office of Special Student Services representative on campus; phone 870 222-5360; fax 870 222-1105.

Crossett:   Office of Special Student Services representative on campus; phone 870 364-6414; fax 870 364-5707.


Class Schedule:

August 21 Introduction and administrative matters. Chapter 1 "Audit Assurance Services" -- No Homework assigned

Powerpoint Ch 1

  26 Chapter 2 "Professional Standards" -- Homework 2.63 (page 70)

Powerpoint Ch 2

  28 Chapter 2 lecture continues
September 2 Chapter 3 "Engagement Planning" -- Homework 3.52 (page 113-14) Powerpoint Ch 3
  4 Chapter 3 lecture continues


  9 Examination Chapters 1-3   
11 Chapter 4 "Management Fraud and Audit Risk" -- Homework 4.54 (page 160) 4.57 (page 161) Powerpoint Ch 4
16 Chapter 4 lecture continues  
18 Chapter 4 lecture continues


23 Chapter 5 "Risk Assessment:  Internal Control Evaluation" -- Homework 5.58 (page 213) Powerpoint Ch 5
  25 Chapter 6 "Employee Fraud and the Audit of Cash" -- Homework 6.43 (page 255)

Powerpoint Ch 6

  30 Examination Chapters 4-6   
October 2 Module B "Professional Ethics" -- Homework B.47 (page 626) Powerpoint Mod B
7 Module B lecture continues  
9 Module C "Legal Liability" -- Homework C.77 (page 674)
  14 Module C lecture continues


16 Module E "Overview of Sampling" -- Homework E.60 (page 745)

Powerpoint Mod E

  21 Examination Chapters B, C,  & E  
23 Module F "Attributes Sampling" -- Homework F.52 (page 780) Powerpoint Mod F
  28 Module F lecture continues Last day to drop 10/29 with a "W"  
  30 Module F lecture continues


November 4 Module G "Variable Sampling" -- Homework G.68 (page 830)

Powerpoint Mod G

6 Module G lecture continues  
11 Module H "Auditing in a Computerized Environment" -- Homework H.62 (page 877) Powerpoint Mod H
13 Examination Modules F, G, & H
18 Chapter 11 "Completing the Audit" -- Homework 11.67 (page 488) Powerpoint Ch 11
  20 Chapter 11 lecture Continues


  25 Chapter 11 lecture Continues  
December 2 Chapter 12 "Reports on Audited Financial Statements" -- Homework 12.54 (page 539) Powerpoint Ch 12
  4 Chapter 12 lecture
  9 Final Examination Room 304 (1:30 - 3:30)