ACCT 3120

Intermediate Accounting II

Fall 2012

Professor Spiceland

Course Description

Intermediate Accounting II (3). This is a course in financial accounting (reporting). The role

of financial accounting is to communicate information that supports business decision-

making. Without understanding how decision makers use accounting information, it is difficult

to fully understand financial accounting issues or, more importantly, to critically evaluate

accounting method alternatives. Keep this perspective in mind as you study each topic. To

assist you, each chapter has one or more sections entitled “Decision Makers’ Perspective”

which offer insights into how the information discussed in the chapters affect decisions made

by investors, creditors, managers, and others. Also, avoid memorizing. A true understanding of

how a particular procedure is applied demands a clear understanding of why it is applied. As

you learn procedures presented in the text, make sure you understand why those procedures

are applied. Prerequisite: Acct. 3110.

Course Materials

Spiceland, et. al., INTERMEDIATE ACCOUNTING, McGraw-Hill/Irwin, 6th

or 7th

Edition, 2011,

2013.

Course resources at the course website:

https://umdrive.memphis.edu/dspice/www/acct/3120.html

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Connect Accounting

Most assignments are to be completed online within Connect, a web-based assignment and

assessment platform. With Connect Accounting, I will deliver assignments online. You will be

given opportunities to practice important skills at your own pace and on your own schedule.

With Connect Accounting Plus, you also get 24/7 online access to an eBook – an online edition

of the text.

Connect Accounting Plus comes free with all new copies of the textbook purchased

through the University bookstore and many other sources. What’s included is an access code

you’ll need to register with Connect. The “Plus” means it also includes an electronic version of

the textbook. If you buy a used text or a new text from certain other sources, it will not include

Connect and you will need to purchase an access code from the bookstore or from the

publisher’s website. The purchased access code does not need to include the eBook (It can be

Connect and not Connect Plus). Here are instructions to purchase an access code if you don’t

have one that came with the book: Video Instructions. Use the code to register at the site

below:

Follow these instructions to register with your section and Connect:

Go to the following Web address and click the "register now" button:

Section 001 at 9:40 http://connect.mcgraw-hill.com/class/d_spiceland_fall_2012-940

If you need help with Connect, here are three sources:

a. 800-331-5094, option 2

b. www.mhhe.com/support

c. Student video tutorials for help embedded within Connect

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Office Hours (BB 230): Tuesday and Thursday 2:15 – 3:30, and by email or appointment.

Email: dspice@memphis.edu Please include “3120” in the subject line of the email.

Classroom Policies

Bring your book to class each day. Turn off your cell phone. Don’t use a laptop in class

(unless you have my permission for course use only). Ask lots of questions. Caps removed (or

turned backwards) during exams. Basic-function calculators only during exams.

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GRADING Your grade this semester will be determined on the basis of the total points you earn:

Exam 1 100 points 450-500 - A

Exam 2 100 points 400-449 - B

Exam 3 100 points 350-399 - C

Final 100 points 300-349 - D

Daily Grade 100 points below 300 - F

Total 500 points

Periodic Exams The three periodic exams during the semester will test your knowledge and understanding

of the material in the chapters indicated. These exams will consist primarily of problems

similar in nature to the homework exercises and problems. In addition, about 30 percent of

each exam will be multiple choice questions. No make-up exams will be given. If you have a

valid reason for missing an exam, you should arrange your absence prior to the exam. In the

case of a prearranged, excused absence from an exam, the final exam will be allowed to count

200 points (rather than 100). Grades are posted in eCourseware.

Final Exam The final exam will cover all chapters. The final will consist entirely of multiple choice

questions. These questions will be approximately evenly divided between "conceptual

questions" and numerical problems with multiple choice solutions.

Daily Grade The 100 point "daily grade" will be determined on the basis of your daily preparation as

evidenced by your scores on homework assignments. Most are to be solved within Connect.

Complete your assignments before the beginning of the class period designated on the

assignment schedule. You likely will have errors in most of these assignments. Come to class

perplexed and questioning. This is encouraged. It means you read the chapter, persevered

and completed the assignment even when you were unsure of the answer. We will clear up

your confusion in class. If you come to class without having read the chapter (or appropriate

portion thereof) and having attempted the assignments, we will not clear up your

confusion.

After the class period in which we discuss the assignment topics, return to Connect and

correct any errors you made the first time. I will use the highest grade you attain on each

assignment as of the beginning of next class period after it is assigned. Your daily grade will be

your Connect homework assignment score total converted to a 100-point scale. I will curve

this final total slightly to partially counter any bad days, computer glitches, etc. Don’t wait

until the cutoff time approaches. Submit your homework well in advance of that time to

avoid electronic glitches. I will not make adjustments if you miss the deadline for any reason.

Do not ask me to make individual exceptions for these issues.

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Discussion Board

Click on the Discussions tab in eCourseware. We have two forums there. In one, let’s

introduce ourselves to each other. In the second forum, entitled Study Hall, I encourage you

to share information with each other about homework assignments and study topics.

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LearnSmart

With LearnSmart, you have the opportunity to increase your performance on each of your

exams and, more importantly, your knowledge of this critical component of your accounting

curriculum.

LearnSmart is an “intelligent” tutoring/learning system. Based on your progress, the

program leads you through a learning process for each chapter, allowing you to move to the

next level only after you have demonstrated an understanding of the previous level. Your

score points as a way to measure your own performance and motivate you. The points are

not “extra credit” aside from the benefit you attain on your exam performance.

The number of points you earn depends on how you assess your ability to answer a

question. For instance, if you click "Easy" and answer the question correctly, you will get the

greatest number of points possible. If you answer correctly after selecting one of the other

buttons – "Think I've got it," "Unsure," and "No idea" – you will still earn points. However, you

get fewer points for the items you do not believe you know as well. So, if you select "Unsure"

and get the answer correct, you will get fewer points than if you had selected "Easy" or "Think

I've got it."

The same applies if you get an answer incorrect. If you do not know the answer after

clicking "Easy," points will be deducted from your score. Fewer points are deducted if you

select "Think I've got it" or "Unsure," and get the answer incorrect. If you click "Unsure,"

points will not be deducted even if you incorrectly answer the question. Spelling errors,

almost correct answers, and getting only part of a question correct also affect the score.

Of course, you can increase your score by going through the same module multiple times,

always being as honest as possible when rating yourself. In essence, the more you learn, the

better the score.

Time to complete a chapter varies but averages about one to one and a half hours. Must

you participate? No. It’s voluntary. But prior students insist it was well worth their efforts.

Access LearnSmart through Connect: http://connect.mcgraw-hill.com/class/d_spiceland_fall_2012-940

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Warning: Be sure to read each chapter before we discuss it in class. The average student

workload is "two hours of work outside of class for every credit hour of coursework." Note,

however, that Accounting is what brings the average UP to that; expect to spend more time on

this course.

Critical Thinking

In our class discussions on financial reporting requirements and in your homework

assignments, you are encouraged to question each requirement, (1) focusing on why, not just

how, (2) comparing U. S. standards with IFRS standards, and (3) questioning the standards vis

a vis conceptually appropriate treatment of the issue. A goal of this course is to foster a

critical thinking mindset to equip you to cope with the rapidly evolving standard-setting

environment. As indicated on the course syllabus, this critical thinking attitude also is

encouraged with assigned cases, specifically the Analysis, Judgment, Ethics, and Real-World

Cases.

Communication

Written communication skills are critical to your success in the accounting profession.

While this is not a communications course, that skill is fostered with the assignment of

Communication Cases that require you to communicate your analysis of accounting issues in

written memos to supervisors in hypothetical business settings.

4Cs initiative Our college embraces an undergraduate enrichment agenda that includes a 4Cs initiative:

Communication, Creativity, Critical Thinking, and Emotional Control leading to Self-

confidence. Our critical thinking and communication activities are consistent with the 4Cs

initiative.

SETE Evaluations SETE evaluations can be completed online. Please go to Spectrum, the University of

Memphis portal, at http://spectrum.memphis.edu/. I take your comments seriously. Please

provide written comments in addition to numerical responses.

Note: A new federal law requires that students receiving financial aid who are registered for

any classes on the first day of classes are considered to be attending classes and will

have their financial aid award debited for those classes.

Course Schedule

Date Discussion Topics Assignments

Aug. 28

Introduction &

Orientation

Discuss course website

Include “3120” in the Subject line of any email you

send me.

30

Current Liabilities Chapter 13A

Brief Exercises 1-7; Exercise 3, Problem 1

Sept. 4 Contingencies Chapter 13B

Brief Exercises 11-17; Exercises 17, 18; Problem 10

Communication Case 8; Communication Case 12

6

Bonds Chapter 14A

Brief Exercises 1-8; Exercise 9

11 Long-Term Notes,

Retirement, and

Disclosure of Debt

Chapter 14B, C

Brief Exercises 9-13; Exercises 18, 24, 25; Problem 13;

Judgment Case 5

13

Leases New Chapter 15 online- Part A Leases PPT Slides1

Brief Exercises 1-9; Exercises 3, 4, 9; Problem 3

18 Leases New Chapter 15 online-Part B Leases PPT Slides1

Brief Exercises 10-11; Exercises 5, 10; Problem 7

20 Leases New Chapter 15 -Supplement Leases PPT Slides2

Exercises 33, 34, 35, 36, 37, 38 solutions

25

Leases Real Estate Leases Leases PPT Slides2

Exercises 48, 49, 50, 51 solutions

The exercises for this chapter Supplement and Real

Estate Leases are not in Connect. You should complete

them on paper. I will not collect the solutions, but this

chapter is way too demanding for you to be successful

without reading the chapter thoroughly and solving

these exercises on your own before class. The

solutions are here for you to check and compare your

solutions.

27 Exam, Chap. 13 – 15

Oct. 2

Accounting for Income

Taxes

Chapter 16A

Brief Exercises 1-5; Exercises 10, 11

4

Accounting for Income

Taxes

Chapter 16A

Brief Exercises 6-9; Exercise 13; Problem 3

9 Accounting for Income

Taxes

Chapter 16A-B

Brief Exercises 10-16; Exercise 29; Problem 10;

Communication Case 6

11

Pensions–Contracts Chapter 17A-B

Brief Exercises 1-4; Problems 1, 2, 3

Oct. 13-16

Fall Break

18 Pensions–Reporting

Issues

Chapter 17C, D

Brief Exercises 5-13; Exercises 4, 6, 7, 8, 10

23

Postretirement Benefits Chapter 17E

Brief Exercises 14-15; Exercise 24, 27

25 Shareholder's Equity Chapter 18A-B

Brief Exercises 1-10; Exercises 3, 4, 5; Problem 2

30 Shareholder's Equity Chapter 18C

Brief Exercises 11-16; Exercises 19, 20, 25; Problems 7,

10;

Judgment Case 5; Ethics Case 8

Nov. 1

Exam, Chap. 16 – 18

6

Share-based

Compensation Plans

Chapter 19A

Brief Exercises 1-9; Exercises 4, 6; Problem 2

8 Earnings per Share Chapter 19B

Brief Exercises 10-11; Exercise 12; Problems 9, 12

13

Earnings per Share Chapter 19B

Brief Exercises 12-14; Exercise 21; Problems 14, 18;

Analysis Case 10, Communication Case 12

15 Statement of Cash Flows Chapter 21A-B

Brief Exercises 1-10; Exercises 2, 6; Problem 1

20 Statement of Cash Flows Chapter 21C

Question 22; Exercises 12, 13, 14, 15

22 Thanksgiving

27 Statement of Cash Flows Chapter 21C

Brief Exercises 11-12; Exercise 21; Problem 8

Communication Case 1; Judgment Case 2

29

Exam, Chap. 19, 21, IFRS

Dec. 4

c Review Day

Dec. 11 Comprehensive Final 10:30 – noon