ACCTG 415/615
Intermediate Financial Accounting II Fall 2009 – Syllabus
LEC A1 Bus 3-6, MW 14:00-15:20 LEC X1 Bus 2-5, MW 17:00-18:20
Instructor: Professor Yanmin Gao Office: Bus 3-30D
Email: [email protected] Office Phone: 780-4929547 Webpage: www.business.ualberta.ca/yanmin
Office Hours: Monday and Wednesday 15:40 – 16:40 or by appointment Course web: “Blackboard” at https://ulearn.ualberta.ca
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. 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.
A professional accountant’s expertise depends on his or her ability to apply professional judgement: making reasoned choices between available alternatives. Through this course, students are expected to work toward developing the ability to assess competing accounting methods. Therefore, a thorough understanding of the rationale (conceptual basis, assumptions, facts of the circumstances, etc.) for each accounting method is essential.
This is a demanding and challenging course and requires a significant amount of reading and problem solving outside of class time. You should plan to spend a minimum of 10 hours per week on this course in order to attain an adequate grasp of the material. For each topic covered, there will be two or three lectures that will progressively cover more difficult material. If you don’t understand the early material you will not be able to understand the later lectures. I
encourage you to keep up with the material and raise questions at an early stage – either in class or during my office hours.
PREREQUISITE: ACCTG 414 or 412 with a minimum grade of C-, and Fin 301.
COURSE MATERIALS:
Required textbook:
Kieso, Weygandt, Warfield, Young, and Wiecek (2007). Intermediate Accounting, 8th Canadian Edition, Volume 2. John Wiley & Sons Canada, Ltd.
Optional material:
Wiecek and Young (2009). IFRS Primer – International GAAP Basics. John Wiley & Sons Canada, Ltd.
Required online resources (on “Blackboard”):
Lecture notes
In-class discussion problems Solutions to self-study problems Practice exams and solutions IFRS online resources:
IASB: http://www.iasb.org/Home.htm
CICA Homepage: www.cica.ca (click on “Transition to International Standards”)
For each topic, students are expected to print and read the lecture notes prior to class. Students are also expected to attempt to solve in-class discussion problems PRIOR TO class. The solutions to in-class discussion problems will be available ONLY in class.
Students may wish to view past blank copies of SCHEDULED FINAL EXAMS for this course by visiting the folder of “Exams & Quizzes” on “Blackboard”.
Due to Internet security issues, all email correspondence must be sent from your University of Alberta account. Email from other sources will not be read. Please include “Accounting 415/615” and your section in the title line.
COURSE EVALUATION:
You are responsible for all assigned materials, including handouts. Your grade will be determined using the following components:
Mid-term Exam I (in class) 25%
Mid-term Exam II (in class) 30%
Final Exam (consolidated) 45%
Total 100%
Exams:
All exams in this course will be closed book. Calculators with alphabetic programmable capability will not be allowed during any examinations. You will have 80 minutes to write the mid-term exams, and three hours to write the final exam. The first midterm will cover the
material in Chapter 13, 14 and 15. The second midterm is cumulative and will further cover the material in Chapter 16, 17 and 18. The final exam is cumulative; all course material is examinable. Further information on exam coverage will be discussed only in class, so that every student has the same information.
• Mid-term Exam I
o Wednesday, October 7th, in class (80 minutes)
• Mid-term Exam II
o Monday, November 9th, in class (80 minutes)
• Comprehensive Final Exam
o Saturday, December 5th, 14:00, location TBA (three hours)
Section 23.5.1 of the Calendar provides the University Regulations for the conduct of exams. In particular, students writing an exam must be able to present their student ID cards or other acceptable photo identification.
Your final grade will depend on a combination of absolute achievement and relative performance, and it will be based on the following schedule.
Percentage Grade 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
ABSENCE FROM EXAMS
Absence from an examination will be treated as a score of zero unless documented evidence of illness or a family crisis is provided within one week of a mid-term exam and five days of the final examination. In the event that a mid-term examination is missed for acceptable reasons, no make-ups will be given. Instead, the credit assigned to the missed work will be reallocated to the final examination.
Once you have written an exam, grades will not be reallocated due to explanations given after the fact. Therefore, if you are too ill to write an exam, please obtain a doctor’s note and do not attempt the exam.
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, it will be held on Saturday, February 6th, 2009, 09:00 (Location TBA).
Deferred final examinations will be allowed only for students following University procedures for obtaining deferrals. Students interested in deferred final examinations should consult the Undergraduate Office. For more information on what a deferred exam is, go to:
http://www.bus.ualberta.ca/BCom/Current/PolicyProcedures/deferredexams.htm#1, or see section 23.5.6 of the University Regulations and Information for Students in the University Calendar.
A
CADEMICI
NTEGRITYOrganizational members are expected to operate ethically. This ethical standard applies to all members of the School of Business - faculty, staff and students. 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. A student handout and other resources are available on the Truth in Education webpage:
(http://www.uofaweb.ualberta.ca/TIE/pdfs/Studenthandout.pdf) (http://www.uofaweb.ualberta.ca/TIE/).
Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behavior (online at http://www.uofaweb.ualberta.ca/secretariat/studentappeals.cfm) and avoid any behaviour that could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. If a student allows his or her name to stand on work submitted in a course, when in fact no individual contribution has been made, then the student is guilty of unethical behaviour and academic misconduct. 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.
T
ENTATIVEC
LASSS
CHEDULE:Date Topic Readings Problems
W Sept 2 Introduction &
Current Liabilities Chapter 13 P13-1, P13-4
M Sept 7 Labor Day No Classes
W Sept 9 Current & Long- Term Liabilities
Chapter 13 &
Chapter14
P13-7, P13-8, P13-12, P13-14 E14-6, E14-9
M Sept 14 W Sept 16
Long-Term Financial
Liabilities Chapter 14 E14-13, E14-14, E14-15, E14-16, E14-17 E14-19, P14-3, P14-5, P14-9, P14-12 M Sept 21
W Sept 23
Shareholders’ Equity Chapter 15
E15-7, E15-8, E15-15
P15-3, P15-5, P15-6, P15-7, P15-9 P15-12, P15-13, P15-14
M Sept 28 W Sept 30 M Oct 5
Complex Financial
Instruments Chapter 16
BE16-1, BE16-2, BE16-3, BE16-4, E16-2 E16-3, E16-5, E16-6, E16-7, E16-9 E16-10, E16-11, E16-13, E16-14, E16-15 P16-1, P16-2, P16-3, P16-4, P16-10
W Oct 7 MIDTERM EXAM I
M Oct 12 Thanksgiving Day No Classes
W Oct 14 M Oct 19
Earnings Per Share Chapter 17
E17-1, E17-3, E17-4, E17-5, E17-6, E17-7 E17-8, E17-9, E17-13, E17-14, E17-16 P17-1, P17-2, P17-3, P17-4, P17-5 P17-6, P17-7, P17-10, P17-12 W Oct 21
M Oct 26
Income Taxes Chapter 18
E18-1, E18-2, E18-3, E18-4, E18-5 E18-11, E18-12, E18-17, E18-18, E18-19 E18-20, E18-22, E18-23, E18-25, E18-26 E18-27, E18-28, E18-29, P18-1, P18-2 P18-4, P18-7, P18-8, P18-10
W Oct 28 M Nov 2 W Nov 4
Leases Chapter 20
E20-1, E20-2, E20-4, E20-5, E20-6, E20-7 E20-8, E20-12, E20-13, E20-14, E20-16 E20-17, E20-18, P20-1, P20-2, P20-4 P20-11, P20-12, P20-13, P20-16, P20-17
M Nov 9 MIDTERM EXAM II
W Nov 11 Remembrance Day No Classes
M Nov 16 W Nov 18 M Nov 23
Pensions and Other Employee Future Benefits
Chapter 19
E19-1, E19-4, E19-5, E19-6, E19-7, E19-9 E19-10, E19-11, E19-12, E19-13, E19-15 E19-16, E19-17, E19-18, E19-19
P19-3, P19-4, P19-7, P19-8, P19-10 W Nov 25
M Nov 30
Accounting Changes
and Restatements Chapter 21 E21-2, E21-3, E21-4, E21-5, E21-6, E21-7 E21-12, P21-1, P21-3, P21-5
W Dec 2 Review Session
Sat Dec 5 FINAL EXAM at 14:00 (Location: TBA)
* For each topic students are expected to print and read the lecture notes, and attempt to solve in-class discussion problems on Blackboard prior to class.
