UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS
DEPARTMENT OF ACCOUNTING, OPERATIONS & OIS
Accounting 415, Intermediate Financial Accounting Winter term 2013
Course Outline
Instructor: Kristie Dewald, CA
Office: Bus 1-27D
Phone: 492-9504
E-mail: [email protected]
Office Hours: T 2:00 – 3:30 W 9:30 – 11:00 and by appointment Course home page:
Prerequisite: ACCTG 414 or ACCTG 412 with a minimum grade of C-.
Required Materials:
• Kieso, D. E., J. J. Weygandt, T. D. Warfield, N. M. Young, and I. M. Wiecek (2007). Intermediate Accounting, 9Edition, Volume 2. Mississauga: John Wiley & Sons Canada, Ltd.
• Blackboard/ULearn – here you will find powerpoints and supplementary notes, solutions to practice problems, and sample exams.
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.
Together with Accounting 414, 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.
Time Commitment:
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.) of 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 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 exams. Please raise questions at an early stage – either in class or during my office hours.
The Evaluation System
There will be 1 midterm examination, 2 quizzes, and a final examination. The weighting of these components is indicated below:
Quiz #1 Wed. January 30 (in class) 10%
Midterm Wed. Feb 27 (5:00 – 6:20) 30%
Quiz #2 Mon. March 25 10%
Final Exam Tuesday, April 16, 1400 50%
Total 100%
All quizzes and exams are designed to test your understanding of the concepts you need to learn rather than your ability to memorize and reproduce class or homework examples. As a result, all questions in the quizzes and in the exams will be slightly different from the class discussion questions and the self studied questions. All quizzes and exams are closed book. You will have 30-35 minutes to write each quiz, 80 minutes to write the mid-term exam, and two hours to write the final exam. Students that miss the mid-term exam for an acceptable reason will have a three hour final exam that has extra questions.
You are responsible for all assigned materials, including handouts, articles posted on Blackboard, and any additional material introduced in class unless I have explicitly excluded it.
The mid-term exam will cover the material in Chapters 13, 14, 15, 16 and 17. The final exam is cumulative, which means that all course material is examinable.
Further information on exam coverage will be discussed only in class, so that every student has the same information.
Please bring your student ID card or other acceptable photo identification on the day you write a quiz or an exam.
Grades in the Course
Please note that the University average grade distribution is based on all courses
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-.
The marks described in this syllabus represent the only marks available to students. Make-up or extra work to improve your grade is not possible. If you feel that your grade on either an exam or a quiz is incorrect, you must notify the instructor in writing during the one-week period following the exam.
Once I have assigned final grades, I will not change course grade except in the case of a recording error. Appeals of final grades will follow the university guidelines for marks appeals.
Absences from Exams and Quizzes
In the event that the midterm examination or a quiz is missed for acceptable reasons, no make-ups will be given. Instead, the credit assigned to the missed work will be reallocated. If Quiz #1 is missed, the weight will be added to the midterm; if the midterm or Quiz #2 are missed, the weight will be added to the final examination. An acceptable reason could include, but is not limited to, illness, death in the family or other family emergencies. As per University policy, no medical note is required for an absence due to illness. However, I may, at my discretion, require students to complete a statutory declaration, or provide other supporting documentation to support the absence. You should email me as soon as possible to advise me of the absence and the reason for it.
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 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 Wednesday, May 1, 2013, 0900.
Code of Student Behavior
Students’ attention is drawn to the Code of Student Behavior, which addresses plagiarism, cheating, and aiding and abetting. A copy of the Code can be obtained at regarding this matter please talk to the instructor or the Undergraduate Office.
Ignorance is NOT a defense!
Course Protocols
Students are responsible for all information provided in class (announcements, lectures, problem analysis, etc.). If you cannot make the class, it is suggested that you arrange for someone else in the class to provide you with the information you missed.
Classroom Etiquette
Courtesy to the instructor, and to other students, is an important part of every class. Because some kinds of behaviour are distracting to both the instructor and to other students, it is expected that students:
a) will arrive in class before it begins, and will stay until it is over;
b) will not engage in sidebar conversations with other students;
c) will not read non-course materials; and
d) will not use personal communication or entertainment devices in class.
This includes computers used for those purposes, mp3 players, cell phones, blackberries, etc.
If you need to arrive late or leave early on a specific day, please inform the instructor in advance. Discourteous behavior may be reflected in a student’s overall grade and/or being asked to leave the classroom.
TENTATIVE CLASS SCHEDULE
Date Topic Readings* Assignments
M Jan 7 Intro. & Current Liabilities
Chapter 13 E13-1, E 13-2, P13-1, P13-3, E13-13
W Jan 9 Current Liabilities P13-7, P13-8, P13-12, P13-14
M Jan 14
Long-Term Liabilities Chapter 14 E14-6, E14-9, E14-2
E14-14, E14-16, E14-17, E14-24 E14-19, P14-3, P14-5, P14-9, P14-15 W Jan 16
M Jan 21
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
W Jan 23
M Jan 28 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
W Jan 30 QUIZ CH 13 – 15 Financial Instruments M Feb 4 Financial Instruments
W Feb 6 Earnings Per Share Chapter 17 E17-3, E17-4, E17-6, E17-9, E17-13, E17-16 M Feb 11 Earnings Per Share Chapter 17 P17-1, P17-3, P17-5, P17-7, P17-10
W Feb 13 Accounting for Income Taxes Chapter 18 E18-1, E18-2, E18-30 M Feb 18 and W Feb 20 Reading Week (no classes)
M Feb 25 Accounting for Income Taxes Chapter 18 E18-3, E18-5, E18-11, E18-13 E18-15, E18-24, E18- 25, P18-2, P18-4, P18-8, P18-10
W Feb 27 MIDTERM EXAM ON CHAPTERS 13 – 17 (5:00 – 6:20 Locations TBA) M Mar 4 Accounting for Tax Losses Chapter 18 E18-21, P18-12, E18-27
W Mar 6 Pensions Chapter 19
M Mar 11
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
W Mar 13 M Mar 18
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
W Mar 20
M Mar 25 Quiz on Ch. 18 and 19 (in class)
Chapter 21 E21-1, E21-3, E21-11, E21-12, E21-18, P21-5, P21-8, P21-13
Restatements W Mar 27
M Apr 1 NO CLASS - EASTER
W Apr 3
Statement of Cash Flows Chapter 22 E22-3, E22-8, E22-13, E22-17, E22-21, P22-6, P22-7, P22-9, P22-11 (a)
M Apr 8
W Apr 10 REVIEW
Tuesday Apr 16 2:00 FINAL EXAM - CUMULATIVE
