acct*3340 intermediate financial accounting ii 3340...m aug 10 final exam (respondus) monday, august...

ACCT*3340 Intermediate Financial Accounting IISummer 2020

Section(s): C01

Department of ManagementCredit Weight: 0.50

Version 3.00 - May 07, 2020___________________________________________________________________________________________________________________

1 Course Details

1.1 Calendar DescriptionThis course focuses on how entities account for current and non-current liabilities and equity accounts, including, income taxes, leases, pensions and other post retirement benefits, share equity and retained earnings, stock options. Additional topics may include earnings per share, restatements and statement analysis.

ACCT*3330Pre-Requisites:

1.2 TimetableTuesdays & Thursdays : 10:30AM - 11:50AM

1.3 Final ExamMonday August 10, 2020 : 08:30AM - 10:30AM Timetable is subject to change. Please see WebAdvisor for the latest information.

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2 Instructional SupportInstructor: Sandra Scott Department: Management Email: [email protected] Office location: MAC202

ACCT*3340 C01 S20 v3.00

Office hours: By appointment over Zoom. Please email me ([email protected]) to make an appointment.

2.1 Teaching and learning practicesThe course is comprised of 10 topics, each of which will be covered using the following format: Background readings Each topic contains readings about related concepts and issues. Readings are to be completed prior to attending class. On-line presentations PowerPoint presentations are available on the course website for each topic. These presentations cover the conceptual elements of the topic and should be viewed before class. Open book WileyPlus assignments Assignments (WileyPlus required) will be done on-line using WileyPlus, and can be accessed through the course website. These questions are at an introductory level and must be completed before class. You will have three attempts for each question. The assignments will be taken up in class as we go through the Class Notes. Problems for class discussion You will be assigned problems and exercises which form an integral part of each class discussion. These problems approximate the difficulty level you should expect to see on exams. To maximize your learning, you are encouraged to attempt the in-class problems prior to attending the virtual class. These problems will also be incorporated into the Class Notes. Additional self-study problems

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In addition to the problems for class discussion, additional problems should be completed on a self-study basis to reinforce and clarify the in-class learning. Additional problems are recommended in the Class Notes - solutions to these problems will be posted to Courselink.

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3 Learning Resources

3.1 Required ResourcesTextbook with publisher software (WileyPlus) (Textbook)

http://www.campusebookstore.com/integration/AccessCodes/default.aspx?bookseller_id=247&Course=ACCT*3340&t=permalink

Kieso, et al., Intermediate Accounting, Volume II, 12th Canadian Ed., John Wiley & Sons Canada Ltd., 2019.


Two purchasing options are available:

1. LOOSELEAF INTERMEDIATE ACCT.VOL#2/WILEYPLUS & EBOOK by Kieso et al.; 12th edition; ©2019, ISBN 9781119600060 (Note that the bookstore offers offering FREE Shipping within Canada for any students preferring the print version.)

2. EBOOK INTERMEDIATE ACCOUNTING VOL#2 WITH WILEYPLUS by Kieso et al.; 12th edition; ©2019, ISBN 9781119594918

The link below provides direct access to purchasing the digital materials (WileyPlus) required for the course:


3.2

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Recommended ResourcesAccess available for FREE through the UofG library (Textbook)

CPAC Handbook.

Electronic access to the CPAC Handbook can be obtained through the University of Guelph library. Because the Handbook is constantly being updated, a hardcopy version would become quickly updated, and is not recommended.

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4 Learning Outcomes

4.1 Course Learning OutcomesBy the end of this course, you should be able to:

Apply generally accepted accounting principles and practices to situations with moderate complexity as they relate to the following topics:

Current liabilitiesa. Long term financial liabilitiesb. Accounting for leases, pensions, deferred taxes and asset retirement obligationsc. Shareholders’ equityd. Other measurement and disclosure issues such as earnings per share, interim and segmented reporting, subsequent events and related party transactions

e.

1.

Prepare financial statement information related to the above noted topics.2. Analyze moderately complex accounting issues and research alternative treatments in support of a recommended solution.

3.

Communicate effectively in written format in response to less structured problems.4. Demonstrate an awareness of ethical and professional reporting responsibilities as they relate to financial reporting.

5.

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5 Teaching and Learning Activities

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5.1 LectureThu, May 7 - Thu, Jul 30

The following schedule of activities is subject to changes as the term proceeds.

Date Chapters/Topics Pre-Class Readings In-class activities

Th May 7 Introduction -- --

T May 12 Current & non-financial liabilities I

Kieso Ch 13 P13.1, P13.8

Th May 14 Current & non-financial liabilities II

HB I: IAS 1, 16, 37

HBII: 1510, 3110, 3290

E13.16, P13.3

M May 18 VICTORIA DAY

T May 19 Long term liabilities I

On-line Assts 1,2 due by 11 pm

Kieso Ch 14 P14.10, E14.16

Th May 21 Long term liabilities II HB I: IAS 32, 39, IFRS 9

HB II: 3856

P14.5, P14.2

T May 26 Shareholders’ equity I

On-line Asst 3 due by 10 am

Group contract due

Kieso Ch 15 P15.3, P15.1

HB I: IAS 1Th May 28 Shareholders’ equity II E15.15, P15.2

Topics:

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HB II: 3240, 3251, 3856

T June 2 Complex financial instruments I


Kieso Ch 16 P16.1

Th June 4 Midterm exam #1 (Respondus)

Covering Ch 13, 14, 15 --

T June 9 Complex financial instruments II

HB I: IFRS 9

HB II: 3856

E16.8 excl 5,7, P16.6, P16.7

Th June 11 Earnings per share I & MT take-up


Kieso Ch 17

E17.8, P17.2

T June 16Data analytics

WileyPlus Data Analytics & Accounting module

Th June 18 Earnings per share II HB I: IAS 33 E17.12, P17.5

T June 23 Income tax accounting I

On-line Asst 6 due by 10 amKieso Ch 18

E18.15, P18.5

Th June 25 Income tax accounting II

Data analytics assignment due by midnight

HB I: IAS 12

HB II: 3465

E18.19, E18.26

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T June 30 Income tax accounting III P18.15

W July 1 CANADA DAY

Th July 2 Leases I


Kieso Ch 20 E20.5, P20.3

T Jul 7 Midterm exam #2 (Respondus)

Covering Ch 16, 17, 18--

Th Jul 9Leases II

HB I: IFRS 17

HB II: 3065

E20.9, P20.18

T Jul 14 Pensions & employee future benefits I


Kieso Ch 19 E19.1, E19.15

Th Jul 16 Pensions & employee future benefits II

Group written assignment due by midnight

HB I: IAS 19

HB II: 3462

E19.9, P19.3

T Jul 21 Other measurement & disclosure issues I


Kieso Ch 23 E23.5, E23.6

HB I: IAS 10, 24, IFRS 8Th July 23 Other measurement & disclosure issues II

BE23.10, P23.9, P23.10

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HB II: 3820, 3840

T Jul 28 Accounting changes


Kieso Ch 21

HB I: IAS 8

HB II: 1506

P21.3, P21.17

Th Jul 30 Term review/catch up

M Aug 10 Final exam (Respondus)

Monday, August 10, 2020

8:30 – 10:30 am

Emphasis on Ch 20, 19, 23, 21, but covering entire course

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6 Assessments

6.1 Marking Schemes & Distributions

Name Scheme A (%)

Open Book WileyPlus Assignments 5

Midterm Exam 1 20

Data Analytics Assignment 10

Midterm Exam #2 20

Group Assignment 10

Final Exam 35

Total 100

6.2 Assessment DetailsOpen Book WileyPlus Assignments (5%)

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WileyPlusDate: 1, 2, 3Learning Outcome:

Assignments (WileyPlus required) are similar to the questions discussed in class. They will be done on-line using WileyPlus. You have three attempts for each question. If you miss a deadline for whatever reason, the assignment will be recorded as zero. There is no re-weighting of marks for assignments

Midterm Exam 1 (20%)Thu, Jun 4, 10:30 AM - 12:00 PM, RespondusDate:

1, 2, 3Learning Outcome:

Data Analytics Assignment (10%)Thu, Jun 25, 11:59 PM, DropboxDue:

1, 2, 3, 5Learning Outcome: The data analytics assignments will be done individually and will consists of online quizzes and a data manipulation and visualization exercise in Excel. Your solution should be submitted to the drop box for ACCT 3340 in Courselink (Courselink automatically subjects all submissions to checks for plagiarism, etc., via turnitin.com). Groups are welcome to discuss the assignments with peers, however each student must submit an original, unique response

Midterm Exam #2 (20%)Tue, Jul 7, 10:30 AM - , 12:00 PM, RespondusDate:

1, 2, 3Learning Outcome:

Group Assignment (10%)Thu, Jul 16, 11:59 PMDue:

1, 2, 3, 4, 5Learning Outcome: The group written assignment will provide you and your group members (no more than 3 students in a group) with an opportunity to delve more deeply into the selected topic areas in the course. The assignment will include some less directed elements and will require demonstration of strong writing and organizing skills. One solution (per group) should be submitted to the drop box for ACCT 3340 in Courselink (Courselink automatically subjects all submissions to checks for plagiarism, etc., via turnitin.com). Groups are welcome to discuss the assignments with members of other groups, however each group must submit an original, unique response.

Final Exam (35%)Mon, Aug 10, 8:30 AM - 10:30 AM, RespondusDate:

1, 2, 4, 5Learning Outcome: ___________________________________________________________________________________________________________________

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7 Course Statements

7.1 Missed Midterms and Assignments Due Dates

The only valid reasons for missing a test or due date involve uncontrollable circumstances (refer to academic consideration below). Scheduling conflicts that are/were foreseeable and/or which merely create inconveniences for students (i.e., vacation plans, dinner reservations, etc.) do not qualify as valid reasons to miss an exam/test or an assignment due date.

IF YOU ARE ILL AT THE TIME OF A MIDTERM EXAM YOU ARE REQUIRED TO COMMUNICATE (VIA EMAIL) ANY ILLNESS TO YOUR INSTRUCTOR BEFORE THE EXAM. The email communication should be sent to your instructor before the exam time and should include the following information: full name, student number, course code, section and your explanation for missing the exam. Should you be excused from a midterm exam for legitimate reasons (i.e., religious holiday, medical condition, etc.) the marks of the midterm exam will be allocated to the final exam.

All assignments must be submitted on the due date. If assignments are handed in late, 20% of the total marks will be deducted for every day they are late (including weekends). The end of the day is midnight. Assignments handed in after midnight on any given day will be considered to be another day late.

7.2 Re-grading of Assignments and Exams

If you are dissatisfied with a mark you earn on a paper or exam you have the option of having your work re-graded. However, the following procedure must be followed: Within 7 working days of the marks being posted or handed back, submit to the professor a one-page email explaining why you think your work should be re-graded. The document should include a detailed argument outlining why you think your grade should be higher and include all pertinent information that you believe bears on your case. If you decide to submit your exam/assignment for re-grading, the entire document may be re-evaluated. Keep in mind that the re-grade is meant for mistakes in grading.

Requests regarding re-weighting of marks allocated due to a poor performance on an assignment, exam or quiz will not be considered.

7.3 Group Work

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The ability to work in teams is a BComm Program Learning Outcome and core CPA competency. One of the goals of the group simulation assignment is to provide students with the experience of managing a substantial project so that you develop these competencies. As such, it expected that all group members pull their weight in their groups.

Releasing Group Members. Group members who do not pull their weight will be allowed to be released by the group. This must be done in consultation with the professor and evidence of the member’s repeated failure to participate adequately must be provided. For example, two unanswered emails to a non-participating group member, or two “reprimanding” emails to a group member who fails to honour their project-related obligations, will suffice. In lieu of participating in the group project, released members will be required to write a 2,000 word paper on the importance of working as a team member in the accounting profession in addition to the original task submission. The tasks submission automatically receives a penalty of 25%, thus the maximum grade attainable on that task submission is 75% which will be awarded in place of that task of the group simulation grade. This is a very serious issue. Groups dealing with unreliable, uncooperative or otherwise difficult or unprofessional group members are advised to speak with the professor as soon as possible so that more constructive options can be considered. Fired group members will not be permitted to join another group and therefore must complete the remainder of the group simulation tasks individually.

8 University Statements

8.1 Email CommunicationAs per university regulations, all students are required to check their e-mail account regularly: e-mail is the official route of communication between the University and its students.

8.2 When You Cannot Meet a Course RequirementWhen you find yourself unable to meet an in-course requirement because of illness or compassionate reasons please advise the course instructor (or designated person, such as a teaching assistant) in writing, with your name, id#, and e-mail contact. The grounds for Academic Consideration are detailed in the Undergraduate and Graduate Calendars. Undergraduate Calendar - Academic Consideration and Appeals https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-ac.shtml Graduate Calendar - Grounds for Academic Consideration https://www.uoguelph.ca/registrar/calendars/graduate/current/genreg/index.shtml Associate Diploma Calendar - Academic Consideration, Appeals and Petitions https://www.uoguelph.ca/registrar/calendars/diploma/current/index.shtml

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8.3 Drop DateStudents will have until the last day of classes to drop courses without academic penalty. The deadline to drop two-semester courses will be the last day of classes in the second semester. This applies to all students (undergraduate, graduate and diploma) except for Doctor of Veterinary Medicine and Associate Diploma in Veterinary Technology (conventional and alternative delivery) students. The regulations and procedures for course registration are available in their respective Academic Calendars. Undergraduate Calendar - Dropping Courses https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-drop.shtml Graduate Calendar - Registration Changes https://www.uoguelph.ca/registrar/calendars/graduate/current/genreg/genreg-reg-regchg.shtml Associate Diploma Calendar - Dropping Courses https://www.uoguelph.ca/registrar/calendars/diploma/current/c08/c08-drop.shtml

8.4 Copies of Out-of-class AssignmentsKeep paper and/or other reliable back-up copies of all out-of-class assignments: you may be asked to resubmit work at any time.

8.5 AccessibilityThe University promotes the full participation of students who experience disabilities in their academic programs. To that end, the provision of academic accommodation is a shared responsibility between the University and the student. When accommodations are needed, the student is required to first register with Student Accessibility Services (SAS). Documentation to substantiate the existence of a disability is required; however, interim accommodations may be possible while that process is underway. Accommodations are available for both permanent and temporary disabilities. It should be noted that common illnesses such as a cold or the flu do not constitute a disability. Use of the SAS Exam Centre requires students to book their exams at least 7 days in advance and not later than the 40th Class Day. For Guelph students, information can be found on the SAS website https://www.uoguelph.ca/sas For Ridgetown students, information can be found on the Ridgetown SAS website https://www.ridgetownc.com/services/accessibilityservices.cfm

8.6 Academic Integrity

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The University of Guelph is committed to upholding the highest standards of academic integrity, and it is the responsibility of all members of the University community-faculty, staff, and students-to be aware of what constitutes academic misconduct and to do as much as possible to prevent academic offences from occurring. University of Guelph students have the responsibility of abiding by the University's policy on academic misconduct regardless of their location of study; faculty, staff, and students have the responsibility of supporting an environment that encourages academic integrity. Students need to remain aware that instructors have access to and the right to use electronic and other means of detection. Please note: Whether or not a student intended to commit academic misconduct is not relevant for a finding of guilt. Hurried or careless submission of assignments does not excuse students from responsibility for verifying the academic integrity of their work before submitting it. Students who are in any doubt as to whether an action on their part could be construed as an academic offence should consult with a faculty member or faculty advisor. Undergraduate Calendar - Academic Misconduct https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-amisconduct.shtml Graduate Calendar - Academic Misconduct https://www.uoguelph.ca/registrar/calendars/graduate/current/genreg/index.shtml

8.7 Recording of MaterialsPresentations that are made in relation to course work - including lectures - cannot be recorded or copied without the permission of the presenter, whether the instructor, a student, or guest lecturer. Material recorded with permission is restricted to use for that course unless further permission is granted.

8.8 ResourcesThe Academic Calendars are the source of information about the University of Guelph’s procedures, policies, and regulations that apply to undergraduate, graduate, and diploma programs. Academic Calendars https://www.uoguelph.ca/academics/calendars

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acct*3340 intermediate financial accounting ii 3340...m aug 10 final exam (respondus) monday, august...

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