ACC 2010 A02 (3 CH) INTERMEDIATE ACCOUNTING - ASSETS

FALL 2020 Online MW 11.30 am – 12.45 pm

CONTENTS CONTENTS ............................................................. 1

INSTRUCTOR ......................................................... 1

COURSE DESCRIPTION........................................... 1

COURSE OBJECTIVES ............................................. 2

COURSE FORMAT .................................................. 2

COURSE MATERIALS .............................................. 2

ASSESSMENT OF LEARNING .................................. 3

MISSED EXAM POLICY ........................................... 4

ATTENDANCE POLICY ............................................ 5

ELECTRONIC DEVICE POLICY ................................. 5

OUT-OF-CLASS COMMUNICATION ....................... 5

TENTATIVE CLASS SCHEDULE ................................ 6

IMPORTANT DATES ............................................... 7

THE CPA CANADA HANDBOOK ............................. 7

INTENDED LEARNING OUTCOMES ........................ 8

ACADEMIC INTEGRITY POLICY .............................. 9

STUDENT SERVICES AND SUPPORTS ................... 11

ABOUT THE INSTRUCTOR .................................... 12

INSTRUCTOR Name: Cameron Morrill, PhD, FCPA, FCGA Office: 488 Drake Centre Phone: 204-474-8435 Email: Cameron.Morrill@UManitoba.CA Office hours: Virtual hours, Wednesdays, 1:30 PM – 3:30 PM (see UM Learn for instructions) COURSE DESCRIPTION ACC 2010 covers accounting policies and practices dealing with calculation and measurement of assets and related reporting problems. It is the first in a two-part series in Intermediate Financial Accounting. Specifically, this course is designed to help students develop a thorough understanding of (a) the environment of financial reporting and the conceptual framework that underlies financial reporting in Canada; (b) the accounting for assets, revenues, and expenses in greater depth than in our introductory accounting course (ACC 1100); and (c) substantive differences between International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE). The course is required for accounting majors and is recommended for students interested in financial statement analysis or following up on material covered in ACC 1100 – Introductory Accounting.

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COURSE OBJECTIVES At the conclusion of this course you will be expected to: 1. have an understanding of financial accounting concepts and generally accepted accounting

principles (GAAP), as they apply to the topics covered in this course; 2. have developed professional judgement in analyzing accounting issues and recommending

accounting policies; and 3. have developed skill in applying accounting standards to situations and problems.

COURSE FORMAT This course will be conducted in two different ways: (1) Asynchronously, wherein lectures/demonstrations will be recorded and available on the course UM Learn site; and (2) Synchronously, which will involve seminar-style, problem-solving sessions which will be conducted via Zoom videoconferencing software during the regularly scheduled time on the Wednesday of each week. For security purposes, zoom links for class each Wednesday will change each week and be provided in UM Learn/Announcements.

To join the class from your computer, install Zoom Client for Meetings from zoom.us/download. To join from your smartphone, install the Zoom app. Detailed instructions are available here. Please note that all classes will be recorded and the video recordings are likely to be shared with other students.

COURSE MATERIALS Classes will be delivered synchronously via videoconferencing and exams and assignments will be conducted online. Therefore, a device enabled with a camera and microphone is required; and you are expected to be in a location with a reliable Internet connection that is strong enough for streaming video. You may also want to consider using earphones/headset with a microphone, unless you have a computer/tablet with good speakers/microphone.

Required texts Kieso. D., J. Weygandt, T. Warfield, N. Young, I. Wiecek, and B. McConomy, Intermediate Accounting (12th Canadian ed.), vol. 1, 2019, John Wiley & Sons Canada, Ltd. packaged with a WileyPLUS Registration Code. A printed package is available through the Campus Bookstore, but it is also possible, and acceptable, to get electronic access to the textbook through WileyPLUS (use the link on the course UM Learn website). For exams, which will be administered via the Respondus Lockdown browser, you will need a device (computer or iPad; smartphone will not work) with one of the following operating systems:

Windows 10, 8, or 7 (note: will not work with Windows 10S)

Mac OS 10.15 to 10.12, OS X 10.11, or OSX 10.10

iOS: 11.0+ (iPad only)

You will need the Chrome browser. Other browsers such as Safari may not work.

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Class notes, videos and solutions to assigned homework are available on UM Learn:

https://universityofmanitoba.desire2learn.com/d2l/login

Sign in using your University of Manitoba UMnetID

From your Fall 2020 list of courses, click on “ACC-2010-A01-A02-Intermediate Accounting-Assets”

Click on Content Recommended text Reference: CPA Canada Handbook – Accounting (electronic access available through UM Libraries - see page 7)

Please respect copyright laws. Course notes, videos and exams are the intellectual property of Professor Cameron Morrill; the textbook, WileyPLUS and related materials are the intellectual property of John Wiley & Sons Canada. Your registration as a student in this class gives you license to use these materials during this term. Photocopying and distributing textbooks or other reading material, or distributing videos or other electronic resources, is a violation of copyright laws and is unethical, unless permission to copy and/or distribute has been obtained.

ASSESSMENT OF LEARNING The grading in this course will be based on three components:

WileyPLUS Assignments (see schedule below) 15%

Midterm exam (Thursday, October 29, 6:00 PM – 8:00 PM) 35%

Final Exam (to be scheduled by the Registrar’s Office) 50% 100%

The tentative letter-grading scheme is as follows. In the event of a skewed distribution of grades, the total course marks may be curved up or down as necessary (the weighting of each component will remain unchanged).

Marks Letter Grade

90 and above A+

80 – 89.99 A

75 – 79.99 B+

70 – 74.99 B

65 – 69.99 C+

60 – 64.99 C

50 – 59.99 D

Below 50 F

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WileyPLUS Assignments WileyPLUS is internet-based educational software which I am using to create assignments for ACC 2010. Six assignments will be due as shown below:

Assignment Due by 11:59 PM on:

1 Saturday, September 26

2 Saturday, October 10

3 Monday, October 26

4 Saturday, November 14

5 Saturday, November 28

6 Friday, December 11

Each assignment is worth three points, and a maximum of fifteen points are available. A student can miss one assignment without penalty. You must achieve a grade of at least 70% by the due date to get full credit (three points) for a particular assignment. A grade greater than zero, but less than 70%, is worth one point. You can do the assignments at any time and can redo them up to ten times to improve your grade up until the deadline. I encourage you to do the assignments early and as many times as you find necessary. Keep in mind that WileyPLUS is an internet-based program. Problems with the WileyPLUS website, your internet server or your computer are all possible and will not be considered valid reasons for missing a deadline. Late assignments will not be accepted.

Examinations The midterm examination will test all materials covered in chapters 1-7, including assigned appendices, of the textbook (see Class Schedule on page 5) and is scheduled for Thursday, October 29, 6:00 PM – 8:00 PM and will be administered through UM Learn. The final examination will test all materials covered in the course. The date of the final examination will be announced later in the term. Exams will be conducted with university-approved Respondus Monitor, which will require you to have your camera and microphone on for the entire duration of the exam. As the software detects any unusual movements, please sit in a location where there are no people/pets or other moving objects in the camera’s view during the exam.

MISSED EXAM POLICY A grade of zero will be assigned if the midterm exam is missed without a legitimate reason. Students who miss the midterm exam for a legitimate reason (e.g., medical, compassionate, university sports team travel) should inform me with suitable documentation as soon as possible, and certainly within five working of days of the missed exam date to have the weight of the missed midterm exam added to the final examination. Conflicts with employers do not qualify as legitimate reasons to miss any exam.

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Students who miss the final exam must apply for a deferred exam through the Undergraduate Program Office in 268 Drake (or their Home Faculty if they are not Asper students). Instructors are not able to grant such permission or make related accommodations or arrangements. Do not make travel plans before the Final Exam. I cannot let you take the exam earlier/later because you booked a flight ticket for a date earlier than the final exam.

ATTENDANCE POLICY Regular attendance is strongly encouraged but is not required. No additional resources will be provided to students who miss a class. ELECTRONIC DEVICE POLICY As classes will be delivered synchronously via videoconferencing, a device enabled with a camera and microphone is required. Further, you are expected to be in a location with a reliable Internet connection that is strong enough for streaming video. You may also want to consider using earphones/headset with a mic, unless you have a computer/tablet with good speakers/mic. OUT-OF-CLASS COMMUNICATION All course materials, and access to WileyPLUS for assignments and e-textbook resources, will be available through the ACC 2010 UM Learn website. Both the midterm and final exams will be administered through UM Learn. Important class announcements will appear on the UM Learn course homepage and/or through your UM email. You are expected to follow both channels closely throughout the term.

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TENTATIVE CLASS SCHEDULE

Week of:

Topic(s) Kieso Chapters

Recommended exercises

Sept 9 Canadian Financial Reporting Environment

1 BE1.2-1.4,1.9,1.10,1.17,1.20,1.23; CA1.1, 1.2

Sept 16 Conceptual Framework

2, 3 BE2.2,2.4,2.7; E2.7,2.10,2.11, 2.13; P2.3,2.5 BE3.4,3.6-3.9,3.12-3.14; E3.2,3.5,3.6,3.10

Sept 23 Accounting Information System

App. C* BEC.3-C.6,C.10; EC.1,C.3-C.7, C.8(a),C.10(a),C.11; PC.5,C.7,C.8

Sept 30 Reporting Financial Performance; Financial Position and Cash Flows

4, 5, App. 4A#, 5A#

BE4.5,4.7,4.9,4.13; E4.3,4.5,4.7,4.10,4.13, 4.17,4.18; P4.5,4.7,4.8 BE5.4-5.10; E5.2,5.8,5.10, 5.11(a), 5.13; P5.2,5.5,5.6,5.9

Oct 7 Oct 14

Revenue Recognition 6 App. 6A

BE6.4-6.6,6.11-6.13,6.18,6.25,6.31-6.34,6.36,6.37; E6.2,6.3,6.5, 6.7,6.11,6.15,6.17,6.24,6.26,6.28,6.29,6.32,6.34, 6.35,6.37-6.39

Oct 21 Cash and Receivables 7, App. 7A

BE7.2-7.4,7.7-7.9(a),7.10,7.14-7.16,7.22,7.23; E7.1,7.2,7.5, 7.7-7.9,7.11,7.15,7.18,7.22,7.23; P7.2,7.3,7.6,7.13(a-d),7.15,7.16

Oct 28 Inventory 8, App. 8A#,8B#

BE8.1,8.5,8.8,8.9,8.12,8.14-8.17,8.22; E8.1,8.3-8.5,8.9,8.10, 8.13,8.14,8.16-8.19,8.21,8.23; P8.1,8.3,8.5,8.8,8.10,8.12,8.16

MIDTERM EXAM, THURSDAY, OCTOBER 29, 6:00 PM – 8:00 PM

Nov 4 Investments 9 BE9.1,9.3,9.4,9.5,9.6,9.7,9.10,9.12,9.13,9.14,9.15,9.16,9.17,9.24, 9.25 E9.1,9.3,9.5,9.6,9.8-9.10,9.12-9.14,9.17,9.18, 9.22,9.26,9.28; P9.1,9.2,9.5,9.6,9.8,9.9

FALL TERM BREAK, NOVEMBER 9 – 13

Nov 18 Property, Plant & Equipment: Basics

10, App. 10A#, 10B

BE10.4,10.10,10.11,10.13,10.15,10.16,10.18,10.19,10.20 E10.4,10.6,10.8,10.9,10.11,10.12,10.14-10.19, 10.21,10.24,10.25,27,10.29

Nov 25 Depreciation, Impairment, Disposition

11, App. 11A

BE11.2,11.3,11.6,11.8,11.12,11.13,11.15,11.16,11.18,11.19,11.20 E11.3,11.4,11.7,11.11,11.16,11.17,11.18,11.22,11.24,11.26

Dec 2 Intangible Assets and Goodwill

12, App. 12A#

BE12.2,12.3,12.6-12.10,12.13,12.14,12.19,12.20 E12.2-12.5,12.8,12.10,12.13,12.15,12.19,12.21

Dec 9 Case Exercise

*located at the back of the Kieso textbook, pp. AP27-AP48 only #These appendices are for self-study. Material in these appendices will be included in exams.

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IMPORTANT DATES September 9: First day of class September 22: Last day to drop course with refund September 26: WileyPLUS Assignment #1 due by 11:59 PM October 10: WileyPLUS Assignment #2 due by 11:59 PM October 26: WileyPLUS Assignment #3 due by 11:59 PM October 29: Midterm exam, 6:00 PM – 8:00 PM November 14: WileyPLUS Assignment #4 due by 11:59 PM November 23: Voluntary Withdrawal (VW) deadline November 28: WileyPLUS Assignment #5 due by 11:59 PM December 11: WileyPLUS Assignment #6 due by 11:59 PM December 12-23: Final exam to be scheduled at some date during this period

THE CPA CANADA HANDBOOK The CPA Canada Handbook – Accounting is made up of four parts. In this course, we will only be studying Part I (International Financial Reporting Standards, or IFRS) and Part II (Accounting Standards for Private Enterprise, or ASPE). The Kieso textbook is a more effective and accessible way to learn about the material in this course than is the Handbook, but the Handbook will be much more important as a reference later on, particularly for those who plan to pursue Accounting or Auditing as a career. If you are considering a career in Accounting, it will be worth your while to start familiarizing yourself with the Handbook now. The CPA Canada Handbook – Accounting is available in electronic format on the University of Manitoba Libraries website. To access the Handbook:

1. From the University of Manitoba homepage (www.umanitoba.ca), click on Academics, scroll down to Essential resources, and click on Libraries.

2. Click on Databases A-Z, and then click on C. Scroll down to and click on CPA Canada Standards and Guidance Collection.

3. If you are accessing the Handbook from off campus, you will have to log in using your UMNetID and password (these should be the same credentials that you use to log into UM Learn).

4. On the knotia.ca page, click on Accounting on the left-hand side of the screen to browse the Accounting Standards collection. If you are looking for a specific section (e.g., IAS 16, which is the IFRS section that deals with Property, Plant and Equipment), enter it (ias 16) in the Fetch dialogue box and click on the arrow.

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INTENDED LEARNING OUTCOMES

AACSB Assurance of Learning Goals and Objectives The Asper School of Business is proudly accredited by AACSB. Accreditation requires a process of continuous improvement of the School and our students. Part of “student improvement” is ensuring that students graduate with the knowledge and skills they need to succeed in their careers. To do so, the Asper School has set the learning goals and objectives listed below for the Undergraduate Program. The checked goal(s) and objective(s) will be addressed in this course and done so by means of the items listed next to the checkmark.

Goals and Objectives in the Undergraduate Program

Goals and Objectives

Addressed in this Course

Course Item(s) Relevant to these

Goals and Objectives

1 Quantitative Reasoning

A. Determine which quantitative analysis technique is appropriate for solving a specific problem.

√

In-class problems and assigned homework

B. Use the appropriate quantitative method in a technically correct way to solve a business problem.

√

C. Analyze quantitative output and arrive at a conclusion.

√

2 Written Communication

A. Use correct English grammar and mechanics in their written work.

B. Communicate in a coherent and logical manner

C. Present ideas in a clear and organized fashion. √

In-class problems and assigned homework

3 Ethical Thinking

A. Identify ethical issues in a problem or case situation

√

In-class problems

and assigned

homework

B. Identify the stakeholders in the situation. √

C. Analyze the consequences of alternatives from an ethical standpoint.

√

D. Discuss the ethical implications of the decision. √

4 Core Business Knowledge √ Entire course

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ACADEMIC INTEGRITY POLICY The online format of class delivery does not lower the Asper School’s academic integrity standards. The same high levels of academic integrity are expected in the Fall 2020 courses as they are in regular terms. It is critical to the reputation of the Asper School of Business and of our degrees that everyone associated with our faculty behave with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba General Calendar addresses the issue of academic dishonesty under the heading “Plagiarism and Cheating.” Specifically, acts of academic dishonesty include, but are not limited to:

using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words (includes Chat messages posted during videoconference sessions)

duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of

another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source

copying the answers of another student in any test, examination, or take-home assignment recording exam questions using any method, regardless of whether those are shared with others sharing exam questions with those who are yet to take the exam, including future students providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose

of submitting academic work or writing any test or examination stealing or mutilating library materials accessing test prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions

with the instructors involved Group Projects and Group Work

Many courses in the Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic integrity. All group members should exercise special care to ensure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to specific individuals. Some courses, while not requiring group projects, encourage students to work together in groups before submitting individual assignments. If it’s unclear whether it is allowed, students are encouraged to seek clarification from the instructor to avoid violating the academic integrity policy. In the Asper School of Business, all suspected cases of academic dishonesty in undergraduate courses are reported to the Dean's office and follow the approved disciplinary process. See following table for typical penalties for academic dishonesty in the Asper School.

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Typical Penalties for Academic Dishonesty in the Asper School

If the student is from another Faculty and the academic dishonesty is committed in an Asper course, the student’s Faculty could match or add penalties beyond the Asper School’s. F-DISC on transcript indicates the F is for disciplinary reasons.

ACADEMIC DISHONESTY PENALTY

Cheating on exam (copying from or providing answers to another student)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Sharing exam questions electronically during exam

F-DISC in course Suspension from taking Asper courses for 2 years Notation of academic dishonesty in transcript

Possession of unauthorized material during exam (e.g., cheat notes)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Altering answer on returned exam and asking for re-grading

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Plagiarism on assignment F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Submitting paper bought online F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Inappropriate Collaboration (collaborating with individuals not explicitly authorized by instructor)

F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic dishonesty in transcript

Group member had knowledge of inappropriate collaboration or plagiarism and played along

F-DISC in course Notation of academic dishonesty in transcript

Signing Attendance Sheet for classmate

F-DISC in course Notation of academic dishonesty in transcript

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STUDENT SERVICES AND SUPPORTS The University of Manitoba provides many different services that can enhance learning and provide support for a variety of academic and personal concerns. You are encouraged to visit the below websites to learn more about these services and supports. If you have any questions or concerns, please do not hesitate to contact your instructor or the Undergraduate Program Office.

For Information on… …follow this link

Tech-related issues with UM Learn or videoconferencing Information Services & Technology

Admission, Registration, Tuition Fees, Important Dates, Final Exams, Graduation, and Transcripts

Registrar’s Office

Academic policies & procedures, regulations, Faculty-specific information, degree and major requirements

Academic Calendar

Help with research needs such as books, journals, sources of data, how to cite, and writing

Library Resources

Tutors, workshops, and resources to help you improve your learning, writing, time management, and test-taking skills

Writing and Learning Support

Support and advocacy for students with disabilities to help them in their academic work and progress

Student Accessibility Services

Copyright-related questions and resources to help you avoid plagiarism or intellectual property violations

Copyright Office

Student discipline bylaws, policies and procedures on academic integrity and misconduct, appeal procedures

Academic Integrity

Policies & procedures with respect to student discipline or misconduct, including academic integrity violations

Student Discipline

Students’ rights & responsibilities, policies & procedures, and support services for academic or discipline concerns

Student Advocacy

Your rights and responsibilities as a student, in both academic and non-academic contexts

Your rights and responsibilities

Full range of medical services for any physical or mental health issues

University Health Service

Information on health topics, including physical/mental health, alcohol/substance use harms, and sexual assault

Health and Wellness

Any aspect of mental health, including anxiety, stress, depression, help with relationships or other life concerns, crisis services, and counselling.

Student Counselling Centre

Support services available for help regarding any aspect of student and campus life, especially safety issues

Student Support Case Management

Resources available on campus, for environmental, mental, physical, socio-cultural, and spiritual well-being

Live Well @ UofM

Help with any concerns of harassment, discrimination, or sexual assault

Respectful Work and Learning Environment

Concerns involving violence or threats, protocols for reporting, and how the university addresses them

Violent or Threatening Behaviour

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ABOUT THE INSTRUCTOR Cameron Morrill, PhD, FCPA, FCGA Department of Accounting & Finance I.H. Asper School of Business Cameron Morrill is an associate professor of accounting at the Asper School of Business, University of Manitoba, where he has been working since 1997. His teaching and research interests are largely in the areas of financial accounting and auditing. He is the co-author of an intermediate accounting textbook and has published the results of his research in such journals as Accounting Horizons; Behavioral Research in Accounting; and Accounting and Finance. He has served as the chair of the Certified General Accountants (CGA) Association of Canada’s National Education Committee and as President of the University of Manitoba Faculty Association.