Southern State Community CollegeCurriculum Committee – March 2017ACCT 2202 – Intermediate Accounting IIPage 1 of 5

I. COURSE TITLE: Intermediate Accounting II

COURSE NUMBER: 2202 CATALOG PREFIX: ACCT

II. PREREQUISITES: ACCT 1102 or ACCT 1105

III. CREDIT HOURS: 3 LECTURE HOURS: 3LABORATORY HOURS: 0 OBSERVATION HOURS: 0

IV. COURSE DESCRIPTION: A continuation of the in-depth study of financial accounting with a concentration on the liabilities and stockholder’s equity accounts of the Balance Sheet.

Other topics include financial statement analysis, error analysis, and accounting for income taxes, retirement benefits, and leases.

V. GRADING: (Suggested)

100 - 90 = A 89 - 80 = B 79 - 70 = C 69 - 60 = D 59 - Below = F

VI. ADOPTED TEXT (S):

Intermediate Accounting (E-Book with Connect Access)9th EditionJ. David Spiceland, Mark Nelson, Wayne ThomasMcGraw-HillCopyright 2018ISBN: 9781260029871

Alternative Purchase OptionsIf you prefer a physical book, the following options are available:

Hardcover Book with Connect Access Loose Leaf with Connect AccessISBN: 9781260089035 ISBN: 9781260089042

ACCT 2202 – Intermediate Accounting IIPage 2 of 5

VII. COURSE OBJECTIVES:

1. Account for the issuance and repayment of various forms of notes and calculate/record the interest on the notes

2. Identify situations that constitute contingencies and demonstrate the appropriate accounting treatment

3. Use present value techniques to calculate the value of bonds

4. Account for bonds issued at face value, at a discount, or at a premium, recording interest using the effective interest method or straight-line method

5. Describe the strategic operational, financial, and tax objectives that motivate leasing

6. Record transactions associated with operating and capital leases for both parties

7. Explain the types of temporary differences that cause deferred tax assets or liabilities and determine the amounts needed to record periodic income taxes

8. Demonstrate how obligations for postretirement benefits are measured, accounted for, and reported in the financial statements

9. Describe the components of shareholders' equity and illustrate how they are reported in the financial statements

10. Identify and apply the factors impacting the calculation of earnings per share

11. Understand and apply the process for correcting and reporting errors

12. Recognize the difference between a change in account estimate and a change in accounting principle, demonstrating each in the financial statements

13. Assess a firm’s financial strength by creating and analyzing a cash flow statement

14. Understand the business motivation behind derivatives and hedging activities

15. Account for a variety of different derivatives and hedging relationships

16. Analyze a company’s performance and financial position through the computation of financial ratios

17. Prepare a forecasted income statement, balance sheet, and statement of cash flows

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VIII. COURSE METHODOLOGY:

This course may use lecture, discussion, video, overhead, chapter and workbook assignments, hand-in assignments, computer assignments, work projects, skill demonstration, skill competency, practical scenarios, and written tests as appropriate to the course objectives.

IX. COURSE OUTLINE: (Suggested)

Week Topic Learning Objectives1 Chapter 13 – Current Liabilities and Contingencies LO1, LO22 Chapter 14 – Bonds and Long-Term Notes LO3, LO43 Chapter 14 – Bonds and Long-Term Notes LO3, LO44 Chapter 15 – Leases LO5, LO65 Chapter 15 – Leases LO5, LO66 Exam #1 (Chapter 13 – 15)

Chapter 16 – Accounting for Income TaxesLO1 – LO6

LO77 Chapter 16 – Accounting for Income Taxes LO78 Chapter 17 – Pensions and Other Postretirement Benefits LO89 Chapter 18 – Shareholder’s Equity LO910 Chapter 19 – Share-based Compensation & EPS LO1011 Exam #2 (Chapter 16 – 19)

Chapter 20 – Accounting Changes and Error CorrectionsLO7 – LO10

LO1112 Chapter 20 – Accounting Changes and Error Corrections

Chapter 21 – The Statement of Cash Flows RevisitedLO12LO13

13 Chapter 22 – Derivatives LO14, LO1514 Financial Statement Analysis LO1615 Forecasting Financial Statements LO1716 Exam #3 (Chapter 20 – 22, F/S Analysis and Forecasting) LO11 - LO17

X. OTHER REQUIRED BOOKS, SOFTWARE AND MATERIALS:

Required: Access to a calculator Required: Access to the Connect learning management software that corresponds with

the current edition of the textbook Recommended: Microsoft Excel Recommended: Journal of Accountancy (Free at www.journalofaccountancy.com)

Recommended: Academic Accounting Access to the FASB Accounting Standards Codification (Free Online at aaahq.org/research/FASB-GARS)

ACCT 2202 – Intermediate Accounting IIPage 4 of 5XI. EVALUATION:

Knowledge of content is evaluated by student performance of competency based skills, assignments, and work projects per instructor. Quizzes may be given at instructors’ discretion. Competency-based skill performance is required on each skill discussed and demonstrated. After completion of this course, the student will be requested to complete a form to assist in evaluation of course content and instruction.

Class participation will be evaluated by the students’ ability to contribute to class discussion.

Students must earn a passing average score on exams.

Sample Grading Scale: Quiz grades = 40% of final grade Homework = 20% of final grade Final exam = 40% of final grade

XII. SPECIFIC MANAGEMENT REQUIREMENTS:

Attendance PolicyTo meet the objectives of Intermediate Accounting II, students should attend all scheduled classes. If a student must miss class due to extenuating circumstances, the student is expected to call and inform the instructor by either talking with the instructor, e-mail, or leaving a message should the instructor not be available.

If you wish to drop the course you must take positive action. Do not assume that the Instructor will automatically drop you if you stop attending class.

Instructor and Student Responsibilities and Academic Dishonesty

Students are required to submit only their own original work with proper citation of third party sources quoted in that work, this includes the team papers; it must be original work produced by the team. The College’s Plagiarism Checker includes a database of all past papers submitted by SSCC students. Submission of copied or purchased assignments is likely to be caught by Turnitin and the resulting sanctions under the Code of Conduct can include a failing course grade, suspension, or expulsion from the College.

IT Proficiency

The mission of Southern State Community College is to provide accessible, affordable and high quality education to the residents of its service area. We believe that education is more than a mastery of a body of technical and professional knowledge and the achievement of technical or professional proficiency. We provide students with the life-long ability to acquire knowledge and translate it into responsible action in a competitive

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global environment.  Toward that end, we seek to develop future professionals who will be critical thinkers with the international/diversity perspectives and IT skills necessary to be effective and ethical communicators/decision makers in an increasingly complex and multicultural environment.  Among the primary skills(s) developed in this class will be IT proficiency.  In part, this skill will be promoted by:

Interacting with the Connect Learning Management Software Retrieving financial information from companies’ web sites Retrieving company filings from sec.gov Researching accounting standards online using the FASB website Performing future value, present value, and depreciation calculations using Excel Developing slide presentations using charts and graphs

XIII. OTHER INFORMATION:

CLASSROOM CONDUCT: Civility in the classroom is very important. As professionals, we expect students to conduct themselves in a courteous and respectful manner. Disruptive, rude, sarcastic, obscene or disrespectful speech or behavior have a negative impact on everyone, and will not be tolerated. Students need to remember that the online discussion boards and chat rooms in the online courses are considered classrooms and the same rules apply. Students will use these tools in the online classroom for information that pertains to the class; it is not to be used for personal exchanges of a social nature. If you engage in any such conduct you will be asked to leave and you will receive a “zero” for any work completed that day. The instructor reserves the right to permanently remove a student from the class for inappropriate conduct after consultation with the Department Coordinator and Academic Dean.

FERPA: Students need to understand that your work may be seen by others. Others may see your work when being distributed, during group project work, or if it is chosen for demonstration purposes.

Students also need to know that there is a strong possibility that your work may be submitted to other entities for the purpose of plagiarism checks.

DISABILITIES: Students with disabilities may contact the Disabilities Service Office, Central Campus, at 800-628-7722 or 937-393-3431.