SmartBook/LearnSmart
You will have 12 SmartBook/LearnSmart reading assignments (one for each chapter). “LearnSmart or SmartBook is an interactive study tool that adaptively assesses students’ skill and knowledge levels to track which topics students have mastered and which require further instruction and practice. Based upon student progress, it then adjusts the learning content based on their knowledge strengths and weaknesses, as well as their confidence level around that knowledge” (McGraw Hill Connect website). Essentially it is an electronic personal accounting tutor. Each chapter has a short LearnSmart homework assignment to introduce the student to the key principles and concepts from the chapter. LearnSmart activities are designed to be completed before chapter discussion begins in class for improved class discussions and advanced preparation for homework and quizzes that will be assigned or given in class.
Homework
You will have 12 Homework Assignments (one for each chapter) to help you practice the concepts taught in the chapter material. They include homework problems from the textbook and other items provided by the professor as discussed in class. All homework will be completed online through use of the “Connect” Accounting software and is due as noted in Canvas.
Gleim CPA Prep Quizzes
We have partnered with Gleim to provide you with a free version of their CPA exam prep software for the AUD section. We will perform a several activities during the course that are designed to give you some experience in what it will be like to sit for the CPA exam. Instructions on how to access this free software are provided in the Modules section of Canvas.
You will have 15 Gleim CPA prep quizzes covering the same topics the chapter materials cover to help start your preparation for the CPA Exam. These quizzes are due as noted in Canvas, and will be accessed through your free Gleim CPA prep platform (instructions provided in Canvas). The 15 Gleim CPA Prep quizzes are made up of the following:
- One Gleim initial assessment quiz: This graded quiz is simply a participation based quiz to help you get oriented to the CPA exam and to give you a starting place for CPA Exam preparation. Full points will be awarded to all students who complete the quiz on time and answer at least one question correctly.
- 10 Gleim Chapter Quizzes: These short graded quizzes cover CPA exam questions on each chapter we discuss and are done in conjunction with your chapter homework assignments.
- Three Gleim CPA Prep Quizzes: These short graded quizzes are built on the pool of questions from the 10 chapter quizzes and are designed to help you take the next step in CPA exam preparation by providing a short graded CPA quiz experience worth a small number of points.
- One Gleim CPA Audit Section Simulated Exam (multiple choice portion only): This graded quiz is the next step in your CPA preparation progression and is designed to simulate the multiple choice portion of the Audit Section of the CPA exam to give you a "dry run" of taking the exam in a classroom setting before you spend all the money required to take the real CPA exam. Note that this quiz is limited to the preparing you for the multiple choice segment of the CPA exam and does not include any preparation for the simulations section of the CPA exam. You will be required to complete two multiple choice testlets of 39 questions each, just like the CPA exam. The three graded Gleim quizzes and the 10 Gleim Chapter quizzes serve as the pool of questions for this simulated exam, so you'll have plenty of review materials to help you prepare.
Memos/Writing Assignments
You will have one memo/writing assignment in this course. It is simply a short Biographical sketch telling the instructor a little bit about your life, interests, etc. to help the professor get to know you better. The professor will provide his own Bio sketch as an example.
Case Studies & Projects
You will have 12 real world case studies related to the chapter material that are designed to provide you with experience performing the audit procedures that you will typically do in your first year in the audit profession that will involve creating audit workpapers in Microsoft Excel or equivalent, creating internal control findings for management in Microsoft Word or equivalent, and using AI software for more interactive experiences of performing transaction walkthroughs. These Case studies, along with all instructions and necessary supplemental material will be provided in the Canvas modules. Every student is required to do their own case study in order to ensure you are properly prepared for the profession. Video examples to walk you through the case study to help you understand the objectives and demonstrate how to complete the audit procedures are provided in each Canvas module. Suggested solutions will open in each Canvas module after the due date has passed for each case study for you to check your work and see what effective audit documentation looks like in the profession.
Exams
You will have 4 exams in this course. The exams will be closed-book and individual effort. The exams will be located online in Connect and will be similar to the assigned homework exercises and problems including multiple-choice, true-false, fill-in-the-blank, calculations, and other question types you will see to ensure adequate breadth. Connect has a built-in online proctor called Proctorio, so all Exams are required to be taken in Connect using this online proctor. Exams taken using Proctorio through Connect require you to have a webcam, microphone, and a stable internet connection. They may be taken anywhere, anytime 24/7 during the open testing window and will generally be due by 11:59pm (Mountain Standard Time) on the date noted in Canvas unless otherwise indicated. For live classes, the professor generally will not hold class the day of the exam in order to ensure sufficient availability in the testing center and to allow students sufficient time to take the exam. You are NOT allowed to use notes in any form or receive other help on exams, but you are allowed to take a blank scratch paper to work out problems, a pen/pencil, and you may either have a handheld calculator that's not on a device that can connect to the internet, or you can use the calculator built into Proctorio for each exam.
Course Plan
Week 1: Chapter 1 - Introduction to the Audit & Assurance Profession
Week 2: Chapter 2 - The need for Audit Services, governing bodies, and the CPA License process
Week 3: Chapter 5 - Audit Evidence & Audit Documentation
Week 4: Exam 1 Ch 1,2,5
Week 5: Chapter 4 - Risk Assessment & Materiality
Week 6: Chapter 3 - Audit Planning & Analytics
Week 7: Chapters 6-7 - Internal Controls
Week 8: Exam 2 Ch 4,3,6,7
Week 9: Chapter 16 - Auditing Cash
Week 10: Chapter 10 - Auditing Accounts Receivable and Revenue
Week 11: Chapter 11 - Auditing Accounts Payable
Week 12: Exam 3 Ch 16,10,11
Week 13: Chapter 18 - Audit Reports and Opinions (PCAOB, AICPA, & International IAASB)
Week 14: Chapter 19 - Professional Ethics and the AICPA Code of Professional Conduct
Week 15: Final Exam - Comprehensive