UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS
DEPARTMENT OF ACCOUNTING,OPERATIONS AND INFORMATION SYSTEMS
A
CCOUNTING414/614 – I
NTERMEDIATEF
INANCIALA
CCOUNTING SYLLABUSSPRING 2016
Instructor: Adam Esplin Office: BUS 3-21D
Classes: TR 6:00 pm-8:50 pm (Bus 2-5) Email: [email protected] Office Hours: By appointment
1. COURSE DESCRIPTION AND INFORMATION
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.
Prerequisites: ACCTG 311/501 and 322/523. Not open to students with credit in ACCTG 412.
2. COURSE MATERIALS AND ACTIVITIES
2.1 Textbook REQUIRED:
Intermediate Accounting, Volume 1, Beechy, Conrod, Farrell and McLeod-Dick
Intermediate Accounting, Volume One, Sixth Edition by Thomas H. Beechy, Joan E. D. Conrod, Elizabeth J. Farrell, and Ingrid McLeod-Dick, Copyright © 2014,.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.
Accounting 414/614 Syllabus – Spring 2016 2 Other than in-class Ulearn will be where announcements and other information regarding the course will be made. Please plan to check this site regularly and/or make sure your settings in Ulearn will send you emails when there are updates.
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. End-of-chapter problems and additional problem material will be provided to help you learn how to apply concepts. Solutions to in-class questions and self-study questions will be posted on Ulearn.
3. 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.
4. EVALUATION
Your grade in this course will be based on the marks you obtain on in-class quizzes and
assignments, a midterm exam, and a comprehensive final exam. The marks will be weighted as follows to determine your percentage mark in the course:
In-class quizzes and assignments 10%
Midterm Exam (Tuesday, May 31st, 2016 at 6:00 pm) 45%
Final Exam (Thursday, June 16th, 2016 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
Please note that students wishing to register in Accounting 415 must obtain a minimum grade of C- in ACCTG 414.
4.1 In-class Quizzes and Assignments
You will be asked to complete an in-class assignment or quiz during most class sessions. The purpose of these is to encourage attendance and to encourage you to keep up with the material.
Your two assessments with the lowest marks will be dropped from the calculation of your grade.
Quizzes will typically be completed individually without the aid of your notes or textbook.
However, some in-class assignments may allow the use of notes or the textbook or involve working with classmates.
4.2 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 31st, 2016 at 6:00 pm in regular classroom
• Final Exam – Thursday, June 16th, 2016 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.
Final exams will not be returned.
4.3 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.
Accounting 414/614 Syllabus – Spring 2016 4 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.
4.4 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. Any student who applies for or obtains an excused absence by making false statements will be liable under the Code of Student
Behaviour.
4.5 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, a deferred midterm will be arranged for you (usually within one week of the original midterm date.)
4.6 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.
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.
TENTATIVE CLASS SCHEDULE
Class # Dates Topics Chapters
1 Tues, May 10 Introduction; Framework for Financial Reporting; Accounting Judgements Chapters 1 & 2
2 Thurs, May 12 The Accounting Information Processing System Appendix
3 Tues, May 17 The Accounting Information Processing System (continued) Appendix
4 Thurs, May 19 Financial Assets: Cash and Receivables Chapter 7
5 Tues, May 24 Cost Based Inventories and Cost of Sales;
Property, Plant, and Equipment; Intangibles and Goodwill Chapters 8 & 9 6 Thurs, May 26 Depreciation, Amortization, and Impairment; Review practice mid-term Chapter 10
Tues, May 31 Mid-Term Exam (in-class)
7 Thurs, June 2 Revenue Recognition; Financial Instruments: Investments in Debt and Equity
Securities Chapters 6 & 11
8 Tues, June 7 Statements of Income and Comprehensive Income; Chapter 3
9 Thurs, June 9 Statements of Financial Position and Changes in Equity; The Statement of Cash
Flows Chapters 4 & 5
10 Tues, June 14 Review practice final
Thurs, June 16 Final Exam (6 pm)
