Accounting 414Corporate Accounting and Reporting II

Course Description and Syllabus

Fall 2009

Teresa Gordon Location: ALB 201Office: ALB 118 Time: 8:00 – 9:15 AM TThOffice Phone: 885-8960 Office Hours: W 8:30–11:30 AME-mail: tgordon@uidaho.edu and T,W,Th 1:15-3:00 PM

or by appointmentHomepage: http://www.cbe.uidaho.edu/Acct414 If my office door is open, feel free to stop in.

Catalog Description: Acct 414 Corporate Accounting and Reporting II (3 cr). Continuation of Acct 315. Covers more advanced topics in the preparation of general purpose financial statements for external users according to US GAAP. Includes accounting database research. May include evening exams. Prereq: Acct 315. (Please note that you may be concurrently enrolled in Acct 415/515.)

COURSE OBJECTIVES

In this course, we will concentrate primarily on CBE Goals #1, 2 and 3 (see list on page 6). Intermediate accounting is the "heart & soul" of financial accounting and reporting. In this course we will complete the topics not covered in Acct 315 and you will have multiple opportunities to research accounting topics using FARS and/or the ASC (FASB’s accounting standards codification). You will also have opportunities to apply your knowledge of accounting concepts to complex transactions. Income tax implications and international comparisons will be included in the coverage of relevant issues. An important pedagogical objective in this course is to challenge you with problems and situations that help you to develop professional skills and to enhance your critical thinking abilities. Today’s accounting professional must be prepared to resolve unstructured problems in an uncertain environment. The skills emphasized in this course are intended to assist you in preparing for this business environment. The specific objectives include:

1. Become familiar with selected theoretical issues and existing GAAP and obtain a thorough comprehension of selected topics in external financial reporting (e.g., leases).

2. Become familiar with differences between US GAAP and IFRS on the topics covered3. Sharpen your problem solving abilities for situations where there is a single correct answer

because of the articulation of financial statements inherent the accounting equation (e.g., statement of cash flows).

4. Enhance your ability to conduct research in the authoritative literature using the FARS database or FASB codification.

5. Provide you with experience in resolving complex financial accounting and reporting issues through a research process that requires critical thinking and results in a well-supported position based on appropriate accounting standards.

1

Acct 414 Syllabus for Fall 2009 Page 2

Prerequisites, Competencies and Responsibilities:

It is assumed that you have satisfied the following minimum requirements:

1. Students enrolled in this course must have completed Accounting 315. This course cannot be taken concurrently with Accounting 315. You may take Acct 414 and Acct 415 at the same time.

2. Students should have proficiency with PC or compatible word-processing and spreadsheet software, email and file transfer ability and Internet/WWW research skills. Students lacking these personal computer competencies will need to seek help from other students, helpdesk, accounting lab, etc.

3. Student should have a UI email account and have basic competency in sending and receiving email. Student should be able to access the course web page.

4. Many students find that having a laptop during class is useful since I often work problems in Excel and use PowerPoint lecture slides. However, printing the blank files before coming to class is an alternate strategy that may even enhance your learning – depending on individual learning styles.

You have other professional responsibilities which include attending class on-time and being prepared [having read all assigned material, completed (or at least attempted) all assignments], participating in class discussion of cases, raising questions about matters of interest or issues that you do not understand, and bringing all necessary materials with you to class (generally your laptop or printouts, calculator, etc. but not necessarily textbook).

Our accomplishments will be function of your enthusiasm and your efforts.

Course Materials

Required: Access to internet (preferably with laptop available during class for at least some topics). On your computer, you will need Microsoft Word, Excel, & PowerPoint. I’m generally posting files in Office 2007 now.

Intermediate Accounting, 12th Edition by Kieso, Weygandt & Warfield (Wiley, 2007). Comes with FARS CD-ROM If you don’t already have this textbook, buy the 13th edition which is much more up-to-date – but assignments will presume everyone kept the textbook from when they took Acct 315.

Financial calculator. HP12C is a good one and the one I’m most familiar with. However, there are other less expensive calculators that would be fine too. I’m just not as familiar with them and you’ll need to study your instruction manual to figure out how to do everything.

Incorporating International Financial Reporting Standards (IFRS) into Intermediate Accounting, by Rebecca G. Fay, John A. Brozovsky, Jennifer E. Edmonds, Patricia G. Lobingier, and Sam A. Hicks at VirginiaTech University. An electronic copy will be available on the course webpage.

Acct 414 Syllabus for Fall 2009 Page 3

Access to FASB website and/or FARS CD-ROM. The 2007 or 2008 CD that came with your KWW text will be acceptable. Technically, the FARS system is obsolete as Sept. 15, 2009 (FASB Statement No. 168). Official GAAP is now embodied in the FASB “ASC” available free at the FASB.ORG website. We are supposed to get academic access to the “professional version” and I’ll provide you with access information when I get it.

Recommended:

Financial Accounting: Exam Questions and Explanations, by Irvin N. Gleim and William A. Collins (Accounting Publications, Inc.) is a low cost means of reviewing and learning financial accounting in preparation for professional exams. You can get it with a CD that will “remember” which questions you’ve missed or marked for additional review.

Examinations & Quiz Scores

You are expected to learn problem solving techniques, rules and facts related to the practice of accounting, and become familiar with pervasive concepts. Accordingly, exams will consist of multiple choice or other objective questions, plus short problems and/or essays. I often provide "free misses" on objective questions so you do not have to get them 100% correct to receive full credit. No make-up exams are given. An unexcused absence from an exam will result in a grade of ZERO. If you know you will need to miss an exam, you may be able to take the exam early.

Occasional quizzes may be administered. A missed quiz cannot be made up but I will drop at least the lowest fourth of the scores. Quiz scores will be combined with other homework assignments as shown in the grading table below.

Homework

Solutions to all exercises and problems for suggested homework out of the textbook will be made available through the accounting lab which is generally open Sunday-Thursday evenings. The solution manual can facilitate the learning process by allowing feedback for the assignments attempted. You should work through all of the homework assignments to gain mastery over the topics we will cover even though I don’t take up every assignment for grading. It is a simple fact that your success in this course is highly correlated with your problem solving ability, your familiarity with the terminology, and your ability to communicate both effectively. If you don't work the problems when it doesn't count, you can't work them when it does! To encourage you to keep up, I collect homework as noted on the syllabus and count the best two-thirds (sequentially) as part of the 10% of your course grade related to quizzes and homework.

Major assignments (projects) will include research cases using FARS, spreadsheet assignments and complex problems not included in textbook. Generally, the assignments will be posted on the schedule page on the course web site with a due date clearly indicated. You will be able to download (and print) the assignments. In some cases, part of the grade will be based on an evaluation of your writing ability.

ATTENDANCE and CLASSROOM DECORUM

Attending all classes will enhance your final score (unless you sleep through the lectures or play or surf the net, of course!). I will circulate an attendance sheet for you to initial. I occasionally administer an “Attendance Quiz” scored 100 for those present or provide bonus points to those present. At the end of

Acct 414 Syllabus for Fall 2009 Page 4

the semester, I will also assign bonus points for good attendance, based on the attendance sheet passed around the room each class period. You may also earn additional bonus points by attending Beta Alpha Psi (accounting club) meetings whether or not you are a member. Just be sure to sign in and indicate that you are enrolled in Acct 414.

You are expected to arrive on time and to bring with you the necessary materials (calculator, laptop or printouts of assignments, etc.). I have worked hard to prepare the materials to enhance your learning and I expect you to pay courteous attention to the lectures. Talking with your neighbors is acceptable only when we are doing in-class exercises. Visiting with your neighbors is distracting to me and to the other students in class. Turn off your cell phone before class begins. If you need to leave class early, please let me know ahead of time. Students walking in and out of class during lectures distract me as well as the other students.

PREPARATION FOR CLASS

You should always read the assigned material before the class day that it is scheduled so that the lectures will be more meaningful. Occasionally, there may be a quiz at the beginning of the class designed to test whether or not you are keeping up with the reading assignments. In certain instances, I will ask you to complete an in-class exercise for the following class period. Please check the on-line schedule for changes in due dates.

GRADING

A letter grade will be determined based on the following:Points Percentage

2 mid-term exams - in class (beginning at 7:30 AM to allow more time to complete problems)  400    40%

Spreadsheet and research projects, cases & other major assignments  200    20%Other homework (generally in textbook) and pop quizzes  100    10%Bonus points for attendance, etc.Comprehensive Final Exam  300    30%

Total 1000    100%

The specific letter grade assigned will be based upon relative point standing at the end of the semester. The following represents a general guideline to the minimum required grade for the indicated level of performance regardless of relative standing. Instructor discretion, as always, governs determination of your final grade. For example, improving performance over the semester will be taken into consideration. Likewise, a failing score on every exam would result in an F even if homework and project grades were satisfactory to good.

Letter Grade PercentageA  90% or higherB  80 to 89%C  70 to 79%D  60 to 69%F  less than 60%

Acct 414 Syllabus for Fall 2009 Page 5

Individual vs. Group ProjectsIf not otherwise indicated, assume all assignments are individual work. However, for some assignments, you will be expected to work outside of class in small groups of two to four students. Such projects will receive a group grade. Each person on the team will receive the same grade for the project. For individual assignments, evidence of group work will be penalized -- the overall grade for the assignment will be divided equally among group members or, at my discretion, a zero score will be assigned to all individuals involved. If group work is required but causes severe hardship for you, please come by and discuss with me during office hours. Plagiarism and other cheating is not acceptable behavior and will earn a ZERO on the assignment or an F for the course.

Group Work Acceptable for Fall 2009:For Project #1, you MUST work in a group of 2 to 3 students.For Projects #2, #4 & #6 and for homework assignments #2 and #3, you MAY work in groups of 2-3 students.All other assignments this semester are INDIVIDUAL assignments.

CHANGES IN SCHEDULE

Check out the Acct414 homepage “announcements” page for changes in assignments, schedule and so forth. If your e-mail address is in the UI computer system, you should also receive periodic announcements from me about scheduled events, job interviews, and assignment changes or clarifications.

GENERAL OVERVIEW OF COURSE CONTENT

Present value topicsGeneral reviewSerial bondsFair value accountingLoan impairmentLeases Pensions

Other TopicsRevenue recognition Accounting for income taxesEarnings per shareStatement of Cash Flows

Course overview diagram is available on the web-page version of the syllabus

Key for abbreviations on scheduleCN = Course Notes – generally Microsoft Word filesHO = handout (indicates homework provided by way of e-mail, web-site, or hard copy rather than something from the textbook)TBA = to be announced and sent by email or posted on web pageXLS = Excel file or XLSX if later versionPPT = PowerPoint file or PPTX if later versionDOC = Microsoft Word file or DOCX if later version

Acct 414 Syllabus for Fall 2009 Page 6

CBE LEARNING GOALS:

Goal #1: Business Knowledge & Environment - CBE students will acquire an integrated understanding of business, accounting, and economic principles and specialized knowledge in their chosen majors.

Goal #2: Critical Thinking and Ethical Problem-Solving – CBE students will be able to use appropriate tools of analysis to identify and address problems or opportunities.

Goal #3: Communication – CBE students will develop the ability to effectively obtain, organize, and communicate information.

Goal #4: Clarify Purpose and Perspective – CBE students will develop an understanding of self and their place in the world.

Goal #5: Teamwork and Collaboration – CBE students will acquire the ability to interact effectively and professionally with people of varied backgrounds, abilities, and values.

Disability Support Services Reasonable Accommodations Statement:

Reasonable accommodations are available for students who have documented temporary or permanent disabilities. All accommodations must be approved through Disability Support Services located in the Idaho Commons Building, Room 306 in order to notify your instructor(s) as soon as possible regarding accommodation(s) needed for the course.

885-6307 email at <dss@uidaho.edu> website at <www.access.uidaho.edu>

Students should present a completed and signed Accommodation Checklist for the current semester, from our office when requesting accommodations. Students should not present the checklist before or after class, if they do, request that they see you during your office hours. If they do not have a current checklist both completed and signed, please refer them to the Disability Support Services office (Idaho Commons, Room 306) to obtain one. If you have any questions regarding a student(s) with a disability(s), or how to best work with a particular student in class, please contact our office.

Fall 2009 – Tentative Course ScheduleNote that changes may be made to this schedule. Please check the on-line schedule regularly on the course web page. “Official due dates” & assignments are those on the course webpage (not necessarily the ones listed here).

Date Class Topic Reading Assignment Homework AssignmentT8/25

1 Print a copy of PVExamples.doc.  We will start working some of the problems so bring financial calculator with you.

Read syllabus.

Familiarize yourself with course web page and read “submission protocol”  

If you need a review of discounted cash flow analysis, read Ch 6 and/or “The Time Value of Money” by Jeff Harkins

PVExamples.doc Problem sets 1 to 3 - attempt all parts. Check figures are provided at the end of file.  Due Thurs Aug. 27

Sets 4 and 5 will be turned in for grading on Tues. Sept 1

Th8/27

2 Time Value of Money

Time Value of Money Examples & Assignment

Time Value of Money Tables & Template (Excel) to get interest factors for other n & i combinations

See also Chapter 6 in text

Go over Problem sets 1, 2 & 3 Bring copy to class with you (paper or on laptop) with your attempted solutions

T9/1

3 The Fair Value Option (pptx) -- includes comparison to IFRS

Accounting for bonds (review)

Starter Blanks - Bond Amortization Tables (Excel file)

Excel Demo - Time Value of Money Functions

Link to K. Stice’s material on fair value option and fair value disclosures (bring printout or file - 6 page doc)

FAS 158 & Fair Value Option (2007 update Spiceland) - material that goes with another intermediate accounting text - has numeric examples of computing fair values and shows how to do journal entries if the fair value option is elected. But if you print, just print  pages 5 through 12 since we won't do the exercises

For more advanced coverage: see BDO Seidman 23-page summary or read the actual standard at fasb.org or on your FARS CD - reference materials for more details

Turn in HW #1 - PV problem sets 4-5    (individual assignment)

HW #2 Fair Values & Fair Value Option (doc) Homework – this is an individual assignment. Due Date: Tues Sept. 8 – we will also check part of HW#3 on that day so don’t get behind! This is a fairly short assignment.

Please go on line for the rest of the schedule.http://www.cbe.uidaho.edu/Acct414

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Acct 414 Syllabus for Fall 2009 Page 8

Date Class Topic Reading Assignment Homework AssignmentTh9/3

4 Fair values, continued

Fair Value Measurement (FAS157) -ppt

Serial Bonds Notes with Fall 2009 HW problems (doc) BRING PAPER COPY TO CLASS

 Get serial bond examples from web page and bring laptop or paper copy to class

HW#3: You may work in groups of 2 on this assignment.

Note that we will go over Serial Bond Problems 1 and 2 (briefly) on Tues Sept 8 (the same day that HW #2 is due) and you will have time to fix any errors before turning in the assignment

T9/8

5  Go over PP#1 & PP#2 Serial Bond homework

Loan Impairment (FASB vs IFRS) - ppt file

Impairment of Loans - examples (troubled debt accounting for creditors) doc BRING COPY TO CLASS or the excel file : Loan Impairment examples - blanks (xls)

Ch 14 Appendix A (pp. 697-706) and Unit 6 of IFRS material, p. 23

If you are interested in the "debtor side" of troubled debt restructuring, got to "links" page for "old" notes that covered both creditors and debtors.  Solutions are included for the example we did for creditors.

HW#2 is due today

Make any corrections needed to your HW#3 and turn in on Thursday Sept 10

Begin work on Loan Impairment HW#4: E14-22, E14-14, E14-27, E14-28, P14-14 (est. time 2 – 3 hours per textbook author) This is an individual assignment.

TH9/10

6 Complete Impairment & debt restructuring - including IFRS related materials on fair value and loan impairment

Ch 21 – read introduction to chapter before class (pp. 1088-1101)  

CN –  Loan Impairment & Troubled Debt Restructuring

Turn in HW #3 is due today 

HW#4 is due on Tuesday of next week

T9/15

7 Accounting for Leases 

Introduction to Leases (ppt)Intro to Leases (includes flow charts)

Leases (in class journal entry examples) (doc file) Bring copy to class - you can print it out or type in solutions in the doc file

Leases 1E, 1F, 7, 9, 11, 12, 13 Excel You may prefer to use these instead of the "doc" versions since they require preparation of amortization tables

Ch 21,  Textbook PPT - Ch 21 Leases (reference material, I may not use it) 

 Starter Blank for Lease.xls

Go to Materials & Links page for a listing of links to solutions for the lease example problems 

HW#4 is due today (individual work) {E14-22, E14-14, E14-27, E14-28, P14-14}

Practice Problems on leases: BE21-9, BE21-10, E21-1, E21-2, E21-12 plus Exercises 1, 2 & 3 in Unit 20 of the VirginaTech materials (see Class 11 row for complete list of assignments that are to be turned in – this is just some exercises that you should be ready to prepare based on lectures and examples so far – doing them NOW should really help you master this material. You can check your answers in the accounting lab Sunday through Thursday evenings)

Acct 414 Syllabus for Fall 2009 Page 9

Date Class Topic Reading Assignment Homework AssignmentTH 9/17

8 Leases under IFRS

IFRS vs FASB on Leases (pptx)

See also synopsis in the "in-class examples" doc file and other details in the "classification" ppt files

Read VirginaTech material on leases (Unit 20)

Distribute Lease amortization problem (Project 1).

HW #4 Loan Impairment (including troubled debt) due today - individual assignment

Begin working on Exercise 4 through 6 in the Unit 20 of the VirginaTech materials as well as E21-8 and E21-9 in the text. 

T9/22

9 Accounting for Leases 

Leases (in class journal entry examples) Continue to bring copies of examples

Leases - classification only examples (ppt)

Lease 7 blanks (xls)

Ch 21 

Click here to go to lease example solutions section of materials

Notes on US GAAP Lease Accounting (doc) - about 15 pages

Begin working on E21-6, E21-7, E21-10

 Project 1 - Leases (amortization tables & JEs) is due no later than 5 PM Thursday 9/24 – see instructions).  This assignment  must be submitted via email and you MUST use Excel. You may work in groups of 2 or 3 students.

TH9/24

10 Advanced topics in lease classification

Leases: A quick look at IFRS (ppt)

Leases (in class journal entry examples) Continue to bring copies of examples

Ch 21

Lease Research Project 2 - you may work in groups of 2 to 3 students on this assignment.

 Project #1 due electronically by 5 PM today. Be sure to email your co-authors when you send so we can “reply all” to return the graded assignment!

T9/29

11 Researching the authoritative accounting literature

BE SURE TO BRING YOUR LAPTOP TODAY!

Continuing with advanced topics in lease classification

Ch 21 + FARS material

Distribute Lease Research Project 2 --  This is an individual assignment and “communication” is part of the grade. DUE after spring break

HW #5 (individual assignment) – Part A:  From Unit 20 in the VirginaTech materials, exercises 4, 5 and 6. Part B. From textbook, do E21-1, E21-2, E21-6, E21-7,  & E21-10 and E21-12

 

Acct 414 Syllabus for Fall 2009 Page 10

Date Class Topic Reading Assignment Homework AssignmentTH10/1

12 Revenue recognition – long-term construction accounting

Guest Lecturer (professor out of town )

Garfield Construction Co. – 3-year Example with solution I recommend bringing PAPER copy so you don't get distracted by Excel formulas.Revenue Recognition (review and comparison to IFRS)

Installment Sales (example & HW); Installment Sale #2 (excel blank)

Ch. 18  Text book 12th ed PPT slides

Accounting for LT Construction Contracts - Notes (.doc) - about 4 pages - includes IFRS

Also, read Unit 17 in the VirginaTech materials on revenue recognition

Even if you are taking the Acct 430 exam later today, you need to attend and pay attention because we only have 2 days on this topic and you’ll want to do well on Exam 1!

Begin work on E18-10, P18-2, P18-6 and P18-7 and the exercises in Unit 17 of the VirginaTech material

 

Turn in HW#5 (lease problems) today to avoid late penalty.  Not accepted after next Tuesday (10 point late penalty)se research project

T10/6

 

13/14

 

IFRS: Revenue Recognition (ppt)

IFRS vs US GAAP: Revenue from sale of goods and services  (one page doc)

5-yr example: Colfax Construction Co. - LT construction contract example I recommend bringing PAPER copy so you don't get distracted by Excel formulas. We will add the IFRS solution this semester

Ch 18During the spring term, we spend an extra day on revenue recognition and do illustrative example for the “zero profit method” that is the IFRS version of the “completed contract method”

HW #6 (E18-10, P18-2, P18-6 and P18-7 in textbook and Exercise #3 in Unit 17 AND the installment accounting problem in the handout  -- accepted through the beginning of the exam

Project 3 is a research case on revenue recognition which can be turned in at any time but no later than the Tuesday after the Fall Recess – it is better not to procrastinate but this give you a chance to fit it into your schedule when it is most convenient.

Th10/8

15 Go over lease research project during class as review for Exam

We may also finish up any remaining questions on construction accounting or installment accounting

Ch 21

Project 2 - Lease Research

Lease research project #2 due at beginning of class (no late assignments accepted), You may work in groups of 2-3 students on this project.

T10/137:30 AM

16 Exam 1 Covers present values, serial bonds, fair value option and disclosures, loan impairment & restructuring, leases & revenue recognition

You may begin taking exam at 7:30 AM – you will probably NEED the extra 30 minutes! If I’m ready, you might even be able to start a few minutes earlier.

Turn in HW #6 (E18-10, P18-2, P18-6 and P18-7 in textbook and Exercise #3 in Unit 17 AND the installment accounting problem in the handout  -- accepted through the beginning of the exam

Acct 414 Syllabus for Fall 2009 Page 11

Date Class Topic Reading Assignment Homework AssignmentTh10/15

17 Introduction to accounting for pensions

Pension Present Value Example   (one-person defined benefit pension plan) BRING COPY TO CLASS!

Pension Accumulation & Payout Example (this is an excel file but without formulas - has a few extra columns as compared to the MSWord version)

This is the ONLY class period related to completing Project 4 so don’t take a “day off” just because we had an exam on Tuesday!

Ch 20 may be obsolete if your text doesn’t have the “2007 update” banner on the cover. Don’ use the wrong material!

If your book is one of the older versions, use this chapter instead: Revised Ch 20 Pensions (Kieso 12th ed) (pdf)

 Bring to class with you:  Pension Present Value Example  I suggest that you bring a paper copy of page 1 & 4

 Begin work on textbook problems (from revised chapter!):  BE20-1, BE20-2, BE20-3,  BE20-8, BE20-10 E20-2, E20-5, E20-6, E20-8, E20-18. It will help to begin working on at least some of these problems before you tackle the long pension problems I developed for Project #5. This is also the only practice you’ll get for certain features of pension accounting prior to Exam 2.

 Pension PV Project 4

T10/20

18 Accounting for Retirement Benefits

Pensions & Other Post Employment Benefits After FASB No. 158 (ppt)

Pension Example for Class Room Use (xls) Bring copy with you to class today and Thursday

In Class Pension Examples Using Working paper approach 

Distribute Project 5, pension problems using SFAS No. 158  (2 plans, 2 years each) The assignment is given in Excel but you may do it by hand - which would be good practice for the exam!

Project #4 - Turn in Pension accumulation & amortization schedules (you may work in groups of 2) - it will be accepted through Thurs Oct 24 (without late fee)

Begin work on Project #5 THIS IS AN INDIVIDUAL PROJECT

 Th10/22

19 Pensions & Other Post Employment Benefits after FASB No. 158 (ppt) and continuing with example in Excel

Employee Benefits: Comparing IFRS to FASB (ppt)

Project #5 - Pension Workpapers (2 plans, 2 years each)

Glossary of Pension Terminology

 Read Unit 19 on Pensions in VirgniaTech materials

KPMG IFRS to US Comparison for Pensions and Post-Retirement Benefits (pptx) - if you want more details on the differences

Last chance to turn in Project 4 (pension accumulation schedules)

Extra Credit – Ch 16: E16-8, P16-1, CA16-1, CA 16-3 (authors estimate 1 to 2 hours). This is material not covered in Acct 315 that will be helpful (20 points max or substitute for a missing HW assignment) Due no later than Th. Oct. 29.  Turn it in as a separate "submission" with your name clearly marked.

Acct 414 Syllabus for Fall 2009 Page 12

Date Class Topic Reading Assignment Homework AssignmentT10/27

20 Complete discussion of Pension Accounting if necessary

Accounting for Income Taxes (ppt) with comparison to IFRS

Deferred Tax Examples only - print yourself a copy - in this chapter, some of the ppt slides have Excel inserts but it will be easier to use if you have a copy of the problems on PAPER - this file contains just the facts from the problems we will be doing over the next 2 weeks

Ch 19

Accounting for Income Taxes (notes in MSWord-optional) 

 

Begin work on E19-1, E19-2, E19-4, E19-6, E19-7

 Project #5 is due today, (accepted through Thurs Oct 29 with 10 point late penalty)

Reminder – don’t forget about Project 3, the research case on revenue recognition. Due no later than Dec. 1, Tuesday after Fall Recess

Th10/29

21 Accounting for Income Taxes

2nd Best Example for students (xls) Print first 2 sheets (facts and workpaper)   

Ch 19  Begin work on E19-5, E19-9, E19-10, E19-23,  P19-1, P19-2, and CA19-6 

Last chance to turn in Project 5 (4 pension working papers)

T11/3

22 Accounting for Income Taxes - and comparison to  IFRS

Accounting for Income Taxes (added IFRS slides) (ppt)

First Place Inc. - Deferred Tax Example - print first two sheets (facts and workpaper) 

Unit 18 in VirginaTech IFRS materials

 

Income Taxes - HW #7 due no later than Tues 11/10 (Textbook: P19-1, P19-2,  P19-3, P19-4, P19-9)  {Due 11/5 but accepted with late fee through 11/10}

 

Th11/5

23 Finish up Deferred Tax if necessary (there may be a quiz)

Introduction to Employee Stock-based compensation & EPS

Stock Based Compensation - SFAS No. 123R with IFRS comparison (introductory level) (ppt)

 

Ch 16 (pp. 785-792 only)  and Unit 15 in IFRS material from VirTch or see Share-based Payments: IFRS 2 - more details from KPMG (ppt)

Examples - Employee Stock Compensation (excel blanks & solutions)  

Begin work on E16-10, E16-11, E16-12, E16-28 & E16-29

HW #7 due today but accepted with 10 point late fee if received by 5 PM Tuesday Nov. 10

Acct 414 Syllabus for Fall 2009 Page 13

Date Class Topic Reading Assignment Homework AssignmentT11/10

24 Introduction to earnings per share - with comparison to IFRS

Earnings per share for Acct 414 - with IFRS comparison - the introductory ppt lecture 

EPS Notes and Examples (doc) - I suggest bringing paper copy of the 8 examples

Ch 16 (pp. 788-803)

Unit 15 in IFRS material (VirTech)

 Note that check figures are at the end of the MSWord file for the EPS examples - for fuller explanations see

EPS Examples - excel blanks (xlsx) - the same problems as in the doc file to the left

HW #7 due TODAY if not already submitted (10 point late fee, not accepted after 5 PM)

Begin work on E16-17, E16-18 and E16-19 and Unit 15 #1,2,3 & 4

 

Th11/12

25 Earnings per share

Complete examples from Tuesday and maybe start those listed for to the right (ppt file)

  EPS Example 8

Ch 16 (pp. 788-803)

Additional EPS Examples (ppt)  This file includes Excel templates within PowerPoint.  However, it would be nice to have copies of problems: Print Facts (suggest "notes view" if you are not brining laptop so you'll have room to work problems

Begin work on  E16-21, E16-22, E16-26, P16-4 and P16-5

Project 6 EPS Research (docx)

HW #8 (E16-28, P16-3, P16-4, P16-6 and P16-8 is due no later than the beginning of Exam 2 

T11/17

26 Go over earnings per share project as review for exam.

There will be a “guest lecturer” since I’ll be out-of-town

Ch 16

Review - exam-type Pension problem (xls) bring copy of facts and a paper worksheet

Project #6 EPS is due today. You may work in groups of 2-3 people. NOT ACCEPTED AFTER CLASS BEGINS!

Th11/19

27 EXAM 2

Exam will be proctored by my TA since I’ll be out-of-town

Covers material since Exam 1 (pensions, deferred taxes, employee options, & earnings per share)

Turn in HW #8 (E16-28, P16-3, P16-4, P16-6 and P16-8) no later than the beginning of Exam 2

11/24,11/26

 

Fall Recess  Complete Project 3 – research case, if you have not already turned it in. Not accepted after 5 PM Tues Dec. 1

Acct 414 Syllabus for Fall 2009 Page 14

Date Class Topic Reading Assignment Homework AssignmentT12/1

28 Introduction/Review of Statement of Cash Flows

Palouse Pottery and Moscow Moving & Storage examples

 

Ch 23  and Unit 5 in VirginaTech IFRS materials

 The Statement of Cash Flows (NOTES FILE)

Palouse Pottery Example 1 (with direct method wp solution) xlxs

Moscow Moving & Storage - SCF for class (excel) has solution but not in working paper format

Begin work on BE23-3, E23-1, E23-8, E23-9, E23-13 and/or the Ulliman and Driskoll practice problems

 For up to 10 points extra credit on HW portion of grade, turn in Exercise#8 (SCF under IFRS & FASB) no later than 5 PM Monday, Dec 14

Th12/3

29 Statement of cash flows

  Ex 3R - Avery Arrowheads Inc. Ex3-Avery Arrowheads for students - working paper (excel)  (Bring paper copy or laptop. -- If you do work in excel, it will still be helpful to have a paper copy so you can see the additional information items easily.

Ch 23

The best way to make sure you can work the SCF problem on the final exam is to work SEVERAL problems.  The easiest ones are listed on the 12/1/09 row.  I strongly recommend that you do WWW before attempting the Endicott Engines homework problem or Project 7

Begin work on P23-2 and P23-4 and/or Wenatchee Whirlpool World example (the one with the most complete explanations in the solution)

 

T 12/8

30 Statement of cash flows with IFRS comparison

We'll probably continue with Avery Arrowheads example

Statement of Cash Flows - US GAAP vs IFRS (ppt)

Ch 23

For extra practice for the exam (since there are no "old" final exams posted)

Gadgets Galore - SCF Problem

HW #9 (Endicott Engines) is due Thursday – Prepare it by hand on paper as practice for final exam.  You may type SCF if you prefer but do the working paper by hand. That's the best way to practice for the final exam. Not accepted after 5 PM  Dec. 11 because I will post the solution on Friday.

Th12/10

31 Statement of cash flows  

Problem will be handed out during class - a "practice exam" to get you ready for the final exam question.

 

Project 7 Kamiak Kanoos Korp SCF Problem (doc)  This file has the facts but no working paper.  Print working paper from excel file to do "by hand" or use the excel version with selected formulas provided:  Blank Working Paper for Kamiak Kanoos SCF.  Doing it by hand would be the best practice for the final exam.

Turn in HW# 9 -  Not accepted after  today since solution will be posted.   

Project#7  (SCF problem) is an individual assignment is due no later than 5:00 PM Monday Dec. 14.

Wed. Dec. 167:30 AM

 32 Final Exam (comprehensive) includes some IFRS questions

Regular classroom at 7:30 – 9:30 AM, you may be able to start about 7:15