UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS
DEPARTMENT OF ACCOUNTING,OPERATIONS AND INFORMATION SYSTEMS
A
CCOUNTING414/614 – I
NTERMEDIATEF
INANCIALA
CCOUNTING SYLLABUSSPRING 2017
Instructor: Office: BUS 4-27
Classes:
Dan (Sabrina) Gong
TR 6:00 pm-8:50 pm (Bus 1-5) Email: [email protected] Office Hours: By appointment
1. COURSE INFORMATION AND LEARNING OBJECTIVES
This is the first of a two-part series in Intermediate Financial Accounting. The course begins with an examination of the conceptual framework of accounting and a review of the accounting cycle and financial statement preparation. It then focuses on a detailed examination of revenue recognition and on the accounts on the asset side of the balance sheet.
Upon completion of the course, students should have an in-depth understanding of the procedures, principles, concepts and judgments associated with accounting for assets and the related income elements applying both IFRS and ASPE. In addition, students should be able to apply this knowledge to new and unfamiliar situations within a reasonable time and without outside assistance.
This course incorporates the Learning Goals of the BCom Program, in particular, Critical thinking, Ethical Awareness and Quantitative Skills.
2. COURSE MATERIALS AND ACTIVITIES
2.1 Textbook REQUIRED:
Intermediate Accounting, Volume 1, Beechy, Conrod, Farrell and McLeod-Dick Intermediate Accounting, Volume One, Seventh Edition by Thomas H. Beechy, Joan E. D.
Conrod, Elizabeth J. Farrell, and Ingrid McLeod-Dick, Copyright © 2017,.This text is also available in e-book (on-line) version.
2.2 Calculator
You will need a non-programmable financial calculator in this class. The Texas Instruments TI- BAII Plus or the Sharp EL738C are both good options (the sharp has a 2 line display), although any non-programmable financial calculator will work. You are only permitted to use a non- programmable calculator in the exams.
2.3 Ulearn
You will be able to obtain lecture notes and related materials from Ulearn at https://ulearn.ualberta.ca/
Ulearn also provides a web forum (Discussion Board) for posting questions. Please post any questions in the Discussion Board instead of emailing me (so other students can also benefit from your question and the applicable answer). Discussion points can be posted as anonymous.
Other than in-class Ulearn will be where announcements and other information regarding the
2.4 In-class and Out of Class Activities
This is a demanding course. Students should expect to spend up to three (3) hours outside class per one (1) hour in class in order to gain an adequate understanding of the course material. A thorough understanding of the framework, concepts, and techniques of accounting as developed in this course is necessary to enable you to proceed with upper level courses in financial
accounting. Success in this course is highly correlated with success in subsequent accounting courses, so it is important that you give this course the time and attention that it requires. Getting behind in the practice problems and studying immediately before the examinations is unlikely to be successful.
The structure of the course is a combination of lecture and problem solving. Generally, class time is a significantly constraining resource and so it will be used to examine the major topics of the various chapters identifying basic concepts and their applications in problems. Some
materials will receive little attention in class as a result. However, students are responsible for all materials covered in assigned readings, regardless of whether or not it is covered in class. If there are questions regarding this material ask your instructor.
End-of-chapter problems and additional problem material have been identified to help you learn how to apply concepts and work with the double-entry system.
Assigned problems are broken down into two groups:
1) Those that will be discussed in class, and 2) Those that are required for self-study, and
Solution to all self-study exercises and problems will be posted on ULearn. Solutions to in class discussion problems will be available ONLY in class.
In order to assure privacy and security, I will only read email sent from your University email account. And in your email tile, please indicate “Acct 414”. Any email from non-University accounts (e.g. hotmail) will not be read.
3. EVALUATION
Your grade in this course will be based on the marks you obtain on in-class quizzes, a midterm exam, and a comprehensive final exam. The marks will be weighted as follows to determine your percentage mark in the course:
Professionalism 5%
In-class quizzes 10%
Midterm Exam (Tuesday, May 30th, 2017 at 6:00 pm) 40%
Final Exam (Thursday, June 15th, 2017 at 6:00 pm) 45%
Total 100 %
These grades represent the only marks available to students. No additional work or extra credit is available.
Letter grades will be assigned to the percentage marks in accordance with University
Regulations [Section 23.4(4) of the University Calendar]. Percentage grades will be converted to letter grades as follows:
Percentage Grade Letter Grade
95%+ A+
90%-94% A
85%-89% A-
80%-84% B+
75%-79% B
70%-74% B-
65%-69% C+
60%-64% C
56%-59% C-
53%-55% D+
50%-52% D
<50% F
3.1 Professionalism The students are expected to:
a) arrive in class before it begins, and will stay until it is over;
b) not make noise, such as cellphone rings and sidebar conversations with other students;
c) not read non-course materials; and
d) not use personal communication or entertainment devices in class for other than course purposes.
If you need to arrive late or leave early on a specific day, please inform the instructor in advance.
Discourteous behaviour will be reflected in a student’s overall grade and/or being asked to leave the classroom.
3.2 In-class Quizzes
You will be asked to complete an in-class quiz during some class sessions. The purpose of these is to encourage attendance and to encourage you to keep up with the material. All quizzes and exams are closed book. Quizzes will be approximately 30 minutes.
3.3 Exams
All exams in this course will be closed book. You will have the full 2 hours and fifty minutes to write both the midterm and final exams. The final exam will be comprehensive.
• Midterm–Tuesday, May 30th, 2017 at 6:00 pm in regular classroom
• Final Exam – Thursday, June 15th, 2017 at 6:00 pm (location TBD)
Section 23.5.1 of the Calendar provides the University Regulations for the conduct of exams. At an exam, students must be able to present their student ID cards or other acceptable photo identification. Cell phones, iPods, and other electronic devices must be turned off and put away prior to the exam.
You are only permitted to use a non-programmable calculator in the exams. As noted in Section 23.5.1(2) “Only those items specifically authorized by the instructor may be brought into the exam facility. The use of unauthorized personal listening, communication, recording,
photographic and/or computational devices is strictly prohibited.”
Midterm examinations will be returned in class and you will be allowed to keep them.
3.4 Remarking Policy for Quizzes and Midterm Exam
After marked quizzes and midterm exam papers have been returned in class, the marking key will be posted on Ulearn. Students should review the marking carefully and bring to my attention any questions about their marks as soon as possible. No remarking requests will be accepted more than one week after the results have been made available.
All appeals must be in writing and the original copy must be attached. Items submitted for appeal may be subject to an entire review. This may result in your grade being lower.
3.5 Absence from Examinations
Occasionally life events occur that require a student to miss term examinations, or final
examinations. However, excused absences are not granted automatically and will be considered only for acceptable reasons such as incapacitating illness, severe domestic affliction, or religious convictions.
Unacceptable reasons include, but are not limited to personal events such as vacations, weddings, or travel arrangements. When a student is absent without acceptable excuse, a final grade will be computed using a raw score of zero for the work missed. As per University policy, no medical note is required for an absence due to illness. However, students may be required to complete a statutory declaration, or provide other supporting documentation to support the absence. Any student who applies for or obtains an excused absence by making false statements will be liable under the Code of Student Behaviour.
3.6 Absence from Midterm examination
If you are absent from the midterm exam for a legitimate reason, please email me within two (2) days. If the midterm is missed for an acceptable reason, the weight of the midterm will be reallocated to the final exam.
3.7 Absence from Final examination
Section 23.3(2) and 23.5.6 (1) of the Calendar provides the University Regulations regarding procedures in the case of a missed final examination. If a student is absent from the final exam, he or 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, the time is TBD.
4. ACADEMIC INTEGRITY
Absolute and complete academic honesty is expected of you in this course. It is important for you as a student to behave in an ethical manner.
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 Behaviour (online at http://www.governance.ualberta.ca/ ) and avoid any behaviour that 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.
5. OTHER
Audio or video recording of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as a part of an
approved accommodation plan. Recorded material is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the instructor.
Policy about course outlines can be found in Section 23.4(2) of the University Calendar.
Accounting 414– Spring 20171 TENTATIVE CLASSSCHEDULEClass # Dates In Class Quiz Topics Beechy Chapters
1 T May 9 Introduction & Framework for Financial Reporting & Accounting Judgements Chapters 1 & 2
2 R May 11The Accounting Information Processing SystemAppendix
3 T May 16In Class #1 Statements of Income and Comprehensive Income Statements of Financial Position & Changes in Equity Chapters 3 & 4
4 R May 18Revenue and Expense RecognitionChapter 6
5 T May 23Cash and ReceivablesChapter 7
6 R May 25In Class #2Cost Based Inventories and Cost of Sales Chapter 8
T May 30Mid-Term Exam during class time – at classroom7 R June 1Investments in Debt and Equity Securities Chapter 11
8 T June 6Property, Plant, and Equipment; Intangibles and GoodwillChapter 9
9 R June 8In Class #3Depreciation, Amortization, and ImpairmentChapter 10
10T June 13The Statement of Cash Flow* Chapter 5R June 15 Final Exam - 6:00 pm* for Chapter 5 we will only be doing the indirect method.
