PROFESSOR GERALD H. CARNES, JR.
M.B.A., C.P.A., CEA-PFP, REGISTERED INVESTMENT ADVISOR
212 Hendricks Hall, Edinboro, PA. 16444
Office phone: 814-732-2616 Department phone: 814-732-2407 (messages) e-mail: carnes@edinboro.edu

 
USEFUL WEBSITES:
  American Institute of CPA's
  Pennsylvania Institute of CPA's
  Internal Revenue Service
  Pennsylvania Department of Revenue
  New York Stock Exchange
  NASDAQ
  Wall Street Journal
  CNBC Market News and Quotes
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Notes & comments:

                    HOW YOU THINK IS EVERYTHING!!!
 

                            HAVE A SAFE SUMMER !!!

 
                            *** If you would like your grade e-mailed to you send me your
                                    address at carnes@edinboro.edu
 

                            *** I will be off campus from May 11, 2001 until July 9, 2001.

                                    I will check my e-mail periodically for messages during that time.
 

 

 

 

 

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SPRING SEMESTER-2001:

                        CLASS SCHEDULE:
                        Accounting I-ACCT210-002                MWF  10:00-10:50am              Room 225HH
                        Accounting II-ACCT220-001               MWF  11:00-11:50am              Room  148HH
                        Accounting II-ACCT220-005               MWF   1:00-1:50pm                 Room 225HH
                        Adv Auditing-ACCT640-001                TUES  6:00-8:30pm                 Room 225HH
                        OFFICE HOURS:
                MON     9:00-10:00am            12:00noon-1:00pm
                     TUES               5:00-6:00pm
                     WED               12:00noon-1:00pm
                     FRI                  9:00-10:00am
 

ADVANCED AUDITING
TEXT:           Auditing: An Integrated Approach,  Eighth Ed., Arens and Loebbecke (Prentice Hall)
COURSE DESCRIPTION:     This course will study  detailed auditing procedures applied to accounting cycles including the
sales and collection cycle, payroll and personnel cycle, acquisition and payment cycle, inventory and warehousing cycle,
capital acquisition and repayment cycle, and audit of cash balances.  The procedures will require students to develop a
working knowledge of statistical sampling techniques,  internal control, and accounting/auditing  information technology.
 The course will also require students to obtain an in depth working knowledge of Generally Accepted Auditing Standards (GAAS)
as  issued by the Auditing Standards Board.
COMPUTATION OF FINAL GRADE:
                Mid Term Exam   chapters 11, 12, 13, 14, 15, 16, 17                                        20%
                Final Exam              chapters 18, 19, 20, 21, 22, 23, 24, 25                                20%
                Case Study              AICPA: Kingfischer Mutual Insurance Co.                 20% (requires written reports)
                GAAS research reports                                                                                      20%(requires written reports)
              Class participation,  homework, and other assignments                                20%(requires writtten reports)
COURSE ADMINISTRATION:
                Students are allowed one excused absence.  Unexcused absences in excess of this policy may result in a reduction
of the final grade by one letter grade for each excess absence.  Excused absences include illness, approved university activity,
death in family, or other faculty approved excuse (documentation may be required).
                All assignments must be completed and submitted at the beginning of class on the exact due date or the assignment
grade will be lowered by one letter grade for each late day, or portion of a late day.
                Missed exams require an excused absence and will be rescheduled during the next available class.
                Students are responsible to insure they clearly understand all assignments.  Incorrect assumptions on exams, or other
assignments without seeking faculty guidance are the student's responsibility.
 

 


PRINCIPLES OF ACCOUNTING I
TEXT:   Fundamental Accounting Principles
                15th Ed., Larson, Wild, Chiapetta
                McGraw Hill
COURSE DESCRIPTION:  This course teaches students a working knowledge of the business accounting cycle.  The cycle includes
recording and summarizing business transactions, and the preparation of financial reports for use by individuals and other entities
interested in the financial performance of the company.
                The course also teaches generally accepted accounting valuation techniques for important financial accounts including
cash, receivables, inventory, long term assets including depreciation, and debt.
                Other special topics include accounting information systems and business internal control.
COMPONENTS OF FINAL GRADE:
                                                TEST I          Chpts 1,2,3                                                     20%
                                                TEST II         Chpts 4,5                                                       20%
                                                TEST III         Chpts 6,7                                                       20%
                                                TEST IV         Chpts 8,9,10                                                    20%
                                                TEST V          Chpts 11,12                                                     20%
COURSE PROTOCOL:
                All missed exams will be made up during the last week of the semester
                Use of calculators is optional during exams
                Students are allowed an unexcused absence from class for each class meeting per week.  MWF classes are
                allowed three unexcused absences, TTH classes are allowed two unexcused absences.  Each excess unexcused
                absence will reduce the student's final grade by one-half letter grade.
                Students are responsible to insure they clearly understand all assignments and test questions by asking for
                clarafication from the instructor.  Incorrect assumptions are the student's responsibility.
 

PRINCIPLES OF ACCOUNTING II
TEXT:   Fundamental Accounting Principles
                15th Ed., Larson, Wild, Chiapetta
                McGraw Hill
COURSE OBJECTIVE:       This course will expose students to basic accounting principles and concepts used in accounting for
business operations.  The concepts are also necessary to build an educational foundation for further business courses.  The
principles include accounting for different types of business entities such as partnerships and corporations, reporting and
analyzing business cash flow, fundamental financial statement analysis, and various mangerial and cost accounting concepts.
COMPONENTS OF FINAL GRADE:
                                TEST I                  Chpts 13, 14                                                    20%
                                TEST II                 Chpts 15, 16                                                    20%
                                TEST III                Chpts 17, 18                                                    20%
                                TEST IV                 Chpts 19, 20                                                    20%
                                TEST V                  Chpts 21 to end of text                         20%
COURSE PROTOCOL:
                All missed exams will be made up during the last week of the semester
                Use of calculators during exams is optional
                Students are allowed one unexcused absence for each class meeting per week.  MWF classes are allowed
                three unexcused absences, TTH classes are allowed two unexcused absences.   Each excess unexcused absence
                will reduce the student's final grade by one-half letter grade.