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Accounting 415/615 (Winter, 2011) Intermediate Financial Accounting II
Instructor: Jason Lee
Office: BUS 4-30B
Phone: 780-492-4839
E-mail:
Office Hours: MW 13:00 – 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 ability. 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 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.
Additional Course Materials:
Sample exams with solutions, solutions for all recommended questions, and other materials are posted in the Documents area of Blackboard.
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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% February 2, Wednesday (in class) Chapters 13 – 15 Mid-term Exam: 30% March 3, Wednesday (in class) Chapters 13 – 17 Quiz #2: 10% March 28, Monday (in class) Chapters 18 and 19 Final Exam 50% April 16, Saturday (14:00 – 17:00) Chapters 13 – 22
Total 100%
The final grades in the course will be based on a combination of absolute achievements 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 three hours to write the final exam. 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.
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.
Please 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 course, it will be held on Friday, April 29, 2011, 09:00 – 12:00.
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
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in class to students. So if you miss class, you will have to either come to my office to get the handouts or have another student pick them up for you.
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. 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.
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Class Schedule
Topic
Required
Readings Recommended 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 (February 2, Wednesday) will cover Chapters 13, 14, and 15.
4 Financial Instruments Chapter 16
BE16-5, BE16-6, BE16-8
E16-2, E16-5, 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 (March 3, 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- 13, E18-15, E18-21, E18-23, 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 28, Monday) 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, E22-17, E22-21 P22-7
The final exam (April 16, Saturday) will be cumulative (i.e., Chapters 13 – 22).
