1
UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS
DEPARTMENT OF ACCOUNTING &OIS
Accounting 415/615 (Winter, 2013) Intermediate Financial Accounting II
Instructor: Jason Lee
Office: BUS 4-30B
Phone: 780-492-4839
E-mail:
Office Hours: Wednesday 12:30 – 14:00 Thursday 12:30 – 14:00 or by appointment
Lecture Sections: B3 MW 15:00 – 16:20 BUS 1-6
B4 MW 16:30 – 17:50 BUS 1-6
Course Description and Objectives:
ACCTG 415/615 is the second part of Intermediate Financial Accounting. This course builds upon materials learnt in previous financial accounting courses including ACCTG 311 and ACCTG 414/614.
The focus of this course is on accounting for financing, liabilities and equity, and related income measurement, and disclosure with an in-depth examination of complex measurement issues. Together with ACCTG 414/614, Intermediate Financial Accounting covers virtually every important corporate reporting topic. Students are expected to master the vast body of knowledge on accounting for activities of an enterprise and preparing accounting information.
A professional accountant’s expertise depends on both technical skill and professional judgment.
During this course, students are expected to work towards developing the expertise through a lot of quantitative practice and a thorough understanding of the rationale (conceptual basis, assumptions, facts of circumstances, etc.) for each accounting method.
This is a difficult course. For each topic covered, there will be two or three lectures that will progressively cover more difficult and technically challenging material. If you don’t understand the earlier material, then you WILL NOT be able to understand the later lectures. In the past, students who failed to keep up with the course materials throughout the semester did very poorly on the exams.
Please raise questions at an early stage - either in class or during my office hours.
Prerequisite: ACCTG 414/614 or ACCTG 412 with a minimum grade of C-.
Required Textbook:
Kieso, D. E., J. J. Weygandt, T. D. Warfield, N. M. Young, and I. M. Wiecek (2010). Intermediate Accounting, 9th Edition, Volume 2. Mississauga: John Wiley & Sons Canada, Ltd.
2
Additional Course Materials:
Sample exams, solutions for all recommended questions, and other materials are posted in the Documents area of Blackboard.
Evaluation:
There will be 1 mid-term exam, 2 quizzes, and a final exam. The weighting of these components is indicated below:
Quiz #1: 10% January 30, Wednesday (in class) Chapters 13 – 15 Mid-term Exam: 30% February 27, Wednesday (in class) Chapters 13 – 17 Quiz #2: 10% March 27, Wednesday (in class) Chapters 18 and 19 Final Exam 50% April 16, Tuesday (14:00 – 16:00) Cumulative
Total 100%
The final grades in the course will be based on a combination of absolute achievement and relative performance.
Quizzes and Exams:
All quizzes and exams are closed book. You will have 30 minutes to write each quiz, 80 minutes to write the mid-term exam, and 2 hours to write the final exam. However, any student who misses the mid-term exam will have a 3-hour final exam that has extra questions. You are responsible for all assigned materials, including handouts, articles posted on Blackboard, and any additional materials introduced in class unless I explicitly exclude it. In particular, I strongly suggest that you attempt all assigned questions at the end of each chapter.
A student who wishes his/her exam or quiz to be re-evaluated must submit the request within 5 business days after the exam or quiz is returned.
You must bring your student ID card or other acceptable photo identification on the day you write a quiz or an exam.
Absences from Quizzes and Exams:
In the event that the mid-term exam or a quiz is missed for an acceptable reason, no make-up quiz/exam will be given. Instead, the credit assigned to the missed work will be reallocated to the final exam.
Once you have written a quiz/exam, marks will not be reallocated due to explanations given after the fact. Therefore, if you are too ill to write a quiz/exam, please do not attempt to write it.
If a student is absent from the final exam, he/she must obtain permission from the Faculty’s Undergraduate Office to write a deferred final exam. If a deferred final exam is required for this
3
course, it will be held on Wednesday, May 1, 2013, 09:00 – 12:00. You will have two hours to write the deferred final exam. However, any student who misses the mid-term exam will have a three-hour final exam that has extra questions.
Class Attendance:
It is your responsibility to attend class. If you miss class for any reason, you are still responsible for all materials covered, announcements made, and handouts provided. I will not e-mail handouts distributed in class. So if you miss class, you will have to either come to my office to get the handouts or have another student collect them on your behalf.
No class February 18th and February 20th – Reading Week No class April 1st – Easter Monday
Code of Student Behavior:
The University of Alberta is committed to the highest standards of academic integrity and honesty.
Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behavior (on line at and avoid any behavior which could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.
Policy about course outlines can be found in Section 23.4(2) of the University Calendar.
Classroom Conduct:
Any student who is disruptive during class will be required to leave. Students are expected to arrive in class before the class begins and to stay until the class is over. Continual talking will not be tolerated as it is disruptive to both the instructor and fellow students. All personal communication or entertainment devices must be turned off during the class time.
4
Class Schedule
Topic
Required
Readings Assigned Questions 1 Current Liabilities Chapter 13 E13-1, E13-2, E13-13
P13-1, P13-3, P13-7, P13-8, P13-12, P13-14 2 Long-Term Liabilities Chapter 14
E14-6, E14-9, E14-2, E14-14, E14-16, E14- 17, E14-19, E14-24
P14-3, P14-5, P14-9, P14-15
3 Shareholders’ Equity Chapter 15
BE15-14
E15-6, E15-7, E15-8, E15-15
P15-2, P15-3, P15-5, P15-6, P15-7, P15-9, P15-12, P15-14
Quiz #1 (January 30, Wednesday) will cover Chapters 13, 14, and 15.
4 Financial Instruments Chapter 16
BE16-5, BE16-6, BE16-8
E16-2, E16-5 (1, 2, 3, and 5 only), E16-6, E16-7, E16-9, E16-10, E16-13, E16-14, E16-15
P16-1, P16-4, P16-5, P16-6, P16-10 5 Earnings per Share Chapter 17
E17-3, E17-4, E17-6, E17-9, E17-13, E17- 16
P17-1, P17-3, P17-5, P17-7, P17-10
The mid-term exam (February 27, Wednesday) will cover Chapters 13, 14, 15, 16, and 17.
6 Accounting for Income Taxes Chapter 18
E18-1, E18-2, E18-3, E18-5, E18-11, E18- 12, E18-13, E18-15, E18-21, E18-24, E18- 25
P18-2, P18-4, P18-8, P18-10
7 Pensions Chapter 19
E19-1, E19-4, E19-6, E19-7 E19-9, E19-10, E19-12 E19-17, E19-18, E19-19
P19-3, P19-4, P19-7, P19-9, P19-10 Quiz #2 (March 27, Wednesday) will cover Chapters 18 and 19.
8 Leases Chapter 20
E20-1, E20-2, E20-5, E20-6, E20-7, E20-12, E20-13, E20-14, E20-16, E20-17, E20-18 P20-1, P20-3, P20-4, P20-11, P20-13, P20- 14
9 Restatements Chapter 21 E21-1, E21-3, E21-11, E21-12, E21-18 P21-5, P21-8, P21-13
10 Statement of Cash Flows Chapter 22 E22-3, E22-8, E22-13, E22-17, E22-21 P22-6, P22-7, P22-19, P22-11 (a only) The final exam (April 16, Tuesday) will be cumulative (i.e., Chapters 13 – 22).
