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University of Alberta School of Business
Department of Accounting, Operations & Information Systems
Accounting 415/615
Intermediate Financial Accounting II Winter 2018
MW 9:30-10:50 (section B1) 12:30-13:50 (section B2) 15:00-16:20 (section B3)
Instructor: Prof. Shamin Mashruwala Office: BUS 3-30C
Phone: (780) 492-5394
Email: [email protected] Office hours: Tues 13:00–15:00
Course Description
ACCTG 415 is the second part of Intermediate Financial Accounting covering principles, methods, and applications of International Financial Reporting Standards (IFRS). It builds upon materials learnt previously in ACCTG 311 and ACCTG 414. The primary focus of this course is accounting for liabilities and shareholders’ equity. Topics include long-term debt, shareholders’
equity, complex financial instruments, accounting for income taxes, leases, pensions, earnings per share, and accounting changes. We will also discuss the differences between IFRS and Accounting Standards for Private Enterprises (ASPE).
Learning Outcomes
This course focuses on the following Learning Goals of the BCom program: critical thinking and quantitative skills. A professional accountant’s expertise depends on both technical skill and professional judgment ability, which rely on critical thinking and quantitative skills. During this course, students develop this expertise via a thorough understanding of the rationale (conceptual basis, assumptions, etc.) of each accounting method as well as extensive practice in applying these methods. Likewise, the exams are designed to assess the student’s understanding of the relevant accounting concepts and methods and his/her ability to apply these methods.
Required Materials:
• Beechy, Conrod, Farrell, and McLeod-Dick. Intermediate Accounting, 7th Edition, Volume 2, McGraw-Hill Canada.
• Blackboard/ULearn – here you will find lecture slides, solutions to recommended problems, and sample exams/solutions.
• McGraw-Hill Connect – this is the companion website to the textbook.
Time Commitment
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
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the earlier material 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 in the course.
Please raise questions at an early stage – either in class or during my office hours.
Grading
There will be two midterms and a final exam. The weighting of these components is indicated below:
Midterm exam 1 Wed, Feb 14 (in class) 30%
Midterm exam 2 Mon, Mar 19 (in class) 30%
Final exam Mon, Apr 16 (9:00-11:00) 40%
Total 100%
Note that the University average grade distribution is based on all courses across campus including courses of varying levels of difficulty. Traditionally, the median (mean) grades in the courses in the AOIS department are lower than the University average. As a result, the distribution of grades in this course will not necessarily coincide exactly with the University average distribution. In the past several years, the mean grade in this course has been B.
Exams
The exams are closed book. You will have 80 minutes to write each midterm exam and 2 hours to write the final exam. You are responsible for all assigned materials, including handouts, and any additional material introduced in class unless I have explicitly excluded it.
The first midterm exam will cover the material in chapters 12-15, and the second midterm exam will cover chapters 16-18. The final exam is cumulative and covers all course material. All exam dates are shown above. Please bring your student ID card or other acceptable photo identification on the day you write an exam.
If you feel that your midterm is incorrectly marked, you must submit your re-marking request to me in writing within one week of the exam being returned to you. Otherwise, the exam will not be re-marked. Please note that a request to have a question on your midterm re-marked will result in the entire exam being re-marked.
Make-up or extra work to improve your exam grades is not possible.
Absences from Exams
All exams are mandatory and must be taken. If you cannot take an exam because of an emergency (e.g., illness, death in the family), you must advise me of the reason for your absence prior to the exam (via e-mail). Otherwise, you will receive a mark of zero for the missed exam. (Once you have written an exam, your grade will not be changed due to explanations given after the fact. Therefore, if you are too ill to write an exam, please do not attempt it.)
No make-up exam will be given for a missed midterm exam. Instead, the credit for the midterm exam will be assigned to the final exam (i.e., if you miss a midterm exam, your final exam will count for 70% of your course grade).
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If you are absent from the final exam, you must obtain permission from the Faculty’s Undergraduate Office to write a deferred final exam.
Class Attendance and Etiquette
Calendar note for section B2 only: On Monday, Mar 5, class will begin at 13:00 instead of 12:30 due to the Students’ Union Election Forum.
You are expected to attend every class. If you miss class for any reason, it is your responsibility to speak to your classmates about what material was covered and what announcements were made. I will not provide materials that were covered in class (e.g., solutions to problems) or respond to queries about announcements made in class.
You are expected to arrive before class begins and to stay till the class is over. If you need to arrive late or leave early on a specific day, please inform me in advance.
Courtesy to the instructor and to your fellow students is an important part of every class. Any student who is disruptive during class will be required to leave. Talking among students will not be tolerated as it is disruptive to both the instructor and fellow students.
Use of electronic devices: Students are permitted the use of laptops or tablet devices in class to take notes or access the course website or other materials relevant to the class. Other uses are disruptive to the class, the instructor, and other students and are not permitted. Use of cellphones for any purpose is prohibited and cellphones should be turned off prior to class. Audio or video recording of lectures by students is allowed only with the prior written consent of the instructor.
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.
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 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.
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TENTATIVE CLASS SCHEDULE
Lecture Date Chapter Topic Recommended Textbook Problems
1 Mon Jan 8 12 Financial Liabilities & Provisions A12-1, 3, 5, 7, 9, 13, 14, 15, 16
2 Wed Jan 10 12
3 Mon Jan 15 13 Long-term Debt A13-4, 5, 6, 7, 9, 10, 13, 16, 17, 20,
21, 23
4 Wed Jan 17 13
5 Mon Jan 22 14 Shareholders’ Equity A14-2, 3, 5, 6, 8, 10, 11, 12, 14, 15, 16, 18, 21, 23, 25, 26
6 Wed Jan 24 14
7 Mon Jan 29 14
8 Wed Jan 31 15 Complex Debt & Equity Instruments A15-2, 3, 7, 8, 13, 14, 17, 19, 20
9 Mon Feb 5 15
10 Wed Feb 7 15
11 Mon Feb 12 16 Accounting for Corporate Income Tax A16-1, 3, 4, 6, 7, 8, 9, 11, 12, 14, 16, 17, 21
12 Wed Feb 14 MIDTERM EXAM 1
Mon Feb 19 NO CLASS (Family Day)
Wed Feb 21 NO CLASS (Reading week)
13 Mon Feb 26 16
14 Wed Feb 28 17 Accounting for Tax Losses A17-1, 3, 4, 5, 6, 7, 9, 10, 12, 13, 17, 19
15 Mon Mar 5 17
16 Wed Mar 7 18 Leases A18-1, 3, 4, 5, 6, 7, 9, 11, 13, 17, 23,
24, 26
17 Mon Mar 12 18
18 Wed Mar 14 18
19 Mon Mar 19 MIDTERM EXAM 2
20 Wed Mar 21 19 Post-employment Benefits A19-1, 2, 5, 7, 8, 10, 12, 13, 15, 17, 18, 20
21 Mon Mar 26 19
22 Wed Mar 28 20 Earnings per Share A20-1, 5, 6, 9, 12, 13, 14, 16, 18, 20, 21, 22, 24, 27
Mon Apr 2 NO CLASS (Easter Monday)
23 Wed Apr 4 20
24 Mon Apr 9 21 Accounting Changes A21-1, 3, 4, 5, 6, 7, 8, 9, 10, 12, 13, 15, 17, 19
25 Wed Apr 11 21
Mon Apr 16 FINAL EXAM, 9:00-11:00am