1
University of Alberta School of Business
Department of Accounting, Operations & Information Systems
Accounting 415/615
Intermediate Financial Accounting II Winter 2020
MW 9:30-10:50 (section B1, BUS 1-10) 12:30-13:50 (section B2, BUS 3-10)
Instructor: Prof. Shamin Mashruwala Office: BUS 3-30C
Phone: (780) 492-5394
Email: [email protected] Office hours: Tues 14:00–16:00
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
• Kieso, Weygandt, Warfield, Wiecek, and McConomy. Intermediate Accounting, 12th Edition, Volume 2, Wiley.
• e-Class – here you will find lecture slides, solutions to recommended problems, and sample exams/solutions.
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 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.
2
Grading
There will be two midterms and a final exam. The weighting of these components is indicated below:
Midterm exam 1 Mon, Feb 10 (in class) 30%
Midterm exam 2 Wed, Mar 11 (in class) 30%
Final exam Tues, Apr 14 (2:00-4:00pm) 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 and no notes are allowed. You will have 80 minutes to write each midterm exam and 2 hours to write the final exam. The exams will cover material from the textbook and the lectures. You are responsible for all assigned materials, including handouts, and any additional material introduced in class unless I have explicitly excluded it.
You must write exams with the section that you are registered in, unless you are given explicit written permission (by me) to do otherwise.
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, you must advise me of the reason for your absence prior to the exam (via e- mail). Excused absences are not granted automatically and will be considered only for acceptable reasons such as incapacitating illness or a family emergency. Unacceptable reasons include (but are not limited to) personal events such as vacations, weddings, or travel arrangements. If you miss an exam without my prior approval, 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.
3
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).
If you are absent from the final exam, you must obtain permission from the School’s Undergraduate Office to write a deferred final exam. If a deferred final exam is required for this course, it will tentatively be held on Monday, April 27, at 9:30am. If permission is not granted from the Undergraduate Office to write a deferred final exam, the final grade will be computed using a score of zero for a missed final exam.
Class Attendance and Etiquette
Calendar note for section B2 only: On Wednesday, Mar 4, 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.
4
TENTATIVE CLASS SCHEDULE
Lecture Date Chapter Topic Suggested Textbook Problems
1 Mon Jan 6 13 Current and Non-Financial Liabilities
E:1,2,4,5,10,11,13,15,17,18,20,21,23, 28
P:2,4,11,13,17
2 Wed Jan 8 13
3 Mon Jan 13 14 Long-Term Financial Liabilities
E:2,3,4,5,6,7,8,11,12,13,14,16,18,19, 21
P:1,3,4,5,6,7,11,12,13
4 Wed Jan 15 14
5 Mon Jan 20 15 Shareholders’ Equity E:1,3,4,5,6,7,8,9,11,12,13,14,16 P:1,3,5,7,9,10,11,14
6 Wed Jan 22 15
7 Mon Jan 27 15
8 Wed Jan 29 16 Complex Financial Instruments E:9,10,11,12,14,19,25 P:8,9,10
9 Mon Feb 3 16
10 Wed Feb 5 16
11 Mon Feb 10 MIDTERM EXAM 1
12 Wed Feb 12 17 Earnings Per Share E:1,3,5,6,7,8,9,10,12,13,14,15,17 P:2,5,6,7,8,9,11,12,13
Mon Feb 17 NO CLASS (Family Day)
Wed Feb 19 NO CLASS (Reading Week)
13 Mon Feb 24 17
14 Wed Feb 26 18 Income Taxes
E:1,3,4,6,7,8,9,10,12,13,14,15,16,17, 19,22,23,24,25,28,29
P:1,2,3,4,5,9,10,12
15 Mon Mar 2 18
16 Wed Mar 4 18
17 Mon Mar 9 18
18 Wed Mar 11 MIDTERM EXAM 2
19 Mon Mar 16 19 Pensions E:1,3,4,5,6,10,13,19,20,21
P:3,4,8,10,11,12
20 Wed Mar 18 19
21 Mon Mar 23 20 Leases E:1,3,4,5,9,11,12,14
P:3,4,6,10,14
22 Wed Mar 25 20
23 Mon Mar 30 20
24 Wed Apr 1 21 Accounting Changes & Error Analysis E:2,4,5,7,8,11,12,13,14,15,17,18,19, 20,21
25 Mon Apr 6 21
26 Wed Apr 8 21
Tues Apr 14 FINAL EXAM, 2:00-4:00pm