UNIVERSITY OF ALBERTA

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ACCOUNTING 414/614

Intermediate Financial Accounting I Course Syllabus, Intersession I, 2013

Classes: MW 6:00pm – 8:50pm; May 6 to June 12, 2013 AF 1-13 Friday, June 14 – Final Exam

Instructor: Linda Hayes, CA, MBA

Office Hours: By appointment (preferably after class) E-mail: [email protected]

Website: https://ulearn.ualberta.ca

Wiley Plus:

Course URL: http://edugen.wileyplus.com/edugen/class/cls272037/

Course Description and Objectives

First of two courses covering principles, methods and applications of current and proposed Generally Accepted Accounting Principles (GAAP). Emphasizes accounting for operating and investment assets, and related income measurement and disclosure. Prerequisites: ACCTG 311 and 322. Not open to students with credit in ACCTG 412.

This is a challenging course that has been designed for accounting majors. Students should be prepared to spend from ten to twelve hours per week outside of class time in order to gain an understanding of the course materials.

Accounting 414/614 is a central course that lays the foundation for further accounting courses.

Students who do not learn the concepts will have difficulty in later courses and in their professional careers. Some students will find that it is more difficult to learn concepts over the spring session, because the course moves more quickly than in the thirteen week fall/winter terms. As well, many students are working full-time and the nice weather can make it harder to study.

However, the AOIS Department emphasizes that, because Accounting 414/614 is such an important course, the same standards are to be maintained as in the fall/winter terms. This means that the course will cover the same content and the same standards will be applied to

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examinations and other evaluations.

Course Structure and Requirements

The structure of the course is a combination of lectures and problem coverage. This recognizes that difficult concepts are best illustrated through problem solving. Students should bring their textbook with them, to every class, for maximum benefit. In order to keep up with the class, students should do the assigned readings prior to each class. This is particularly important for Intersession. Materials that are normally presented over the fall or winter terms are covered in a compressed time period. Students cannot afford to fall behind and hope to catch up.

For Internet security issues, students wishing to contact the instructor by e-mail need to include “ACCTG414/614” in the title line.

Required Materials

Kieso, Weygandt, Warfield, Young, Wiecek; Intermediate Accounting; John Wiley & Sons;

2010; Ninth Canadian Edition, Volume 1

WileyPlus for Intermediate Accounting, Ninth Canadian Edition (www.wileyplus.com) See flyer on u-learn for information.

Recommended

Students of accounting should become familiar with professional pronouncements and standards, particularly the Accounting Recommendations of the Canadian Institute of Chartered Accountants (the CICA). The CICA's website is http://www.cica.ca/. Students may also wish to read: CA Magazine, CGA Magazine, CMA Magazine, the Globe and Mail's Report on Business, National Post, Business Week, Forbes, Fortune and The Economist.

A financial calculator is recommended. A popular model is: Sharp EL-738 Course evaluation

Assignments 20%

Mid-term examination in class on Wednesday, May 29, 2013 30%

Final examination in class on Friday, June 14, 2013 50%

100%

An exact correspondence of percentage marks to letter grades cannot be specified in advance, but generally students will need to be above 95% to get an A+, above 90% to get an A, above 85% to get an A-, above 80% to get a B+, above 75% to get a B, above 70% to get a B-, above 65% to get a C+, above 60% to get a C, above 56% to get a C-, above 53% to get a D+, above 50% to get a D and below 50% to get an F.

There are no other marks available in the course other than those indicated above.

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Please note that students wishing to register in Accounting 415 must obtain a minimum grade of C- in ACCTG 414.

Students who obtain a D or D+ and have a GPA of higher than 2 may retake ACCTG 414.

Examinations

Examinations are closed book and may consist of a combination of problems to be worked on, as well as multiple choice, true/false and/or matching questions, with a focus on problems.

There will be no make-up midterm examination. Students who miss the midterm examination with a legitimate and documented reason will have the weighting of the midterm examination reallocated to the final examination. It is the student’s responsibility to contact the instructor regarding any missed examination. A sickness excuse will not be accepted and grades will not be re-allocated once an examination has been written.

Exams are not subject to re-grading unless a serious error in marking occurs. A student who wants to appeal an exam is required to submit the appeal in writing setting out the concerns.

Once an exam is submitted for re-grading, the instructor reserves the right to re-grade the entire exam.

Students will need a calculator for the exams. A simple four-function calculator will work but a financial calculator is recommended. Programmable calculators with addressable memories, i.e.

those that can store formulas or text, will NOT be allowed in the exams unless you show that the memory has been cleared.

Assignments on Wiley Plus (due on dates indicated on assignment list)

The assignments provide students with an opportunity to examine topics learned throughout the course.

Code of Student Behaviour

Students should note the University's policies on academic dishonesty in exams and elsewhere.

These policies will be firmly applied in this course. Any questions about how these policies relate to this course should be directed to the instructor or the Undergrad Office.

A copy of the Code can be obtained at http://www.ualberta.ca/~unisecr/.

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Course Schedule

Date Coverage Topics

Mon _6-May Chapters 1, 2, 3

The conceptual framework,

The accounting process

Wed _8-May Chapters 3, 4 The accounting process

Income statement, retained earnings Mon _13-May Chapters 4, 5 Income statement, retained earnings

Balance sheet

Wed _15-May Chapter 5 Balance sheet, cash flow statement Mon _20-May No class Victoria Day statutory holiday Wed _22-May Chapter 6 Revenue and expense recognition Mon _27-May Chapter 7 Cash, accounts receivable

Wed

29-May

Midterm exam

Coverage: chapters 1 to 6 Mon _3-Jun Chapter 8 Inventories

Wed _5-Jun Chapter 9 Investments

Mon _10-Jun Chapter 10 Property, plant and equipment Wed

12-Jun

Chapter 11, 12

Amortization & impairment, intangibles Fri _14-Jun Final Exam Coverage: Comprehensive

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