ACCT*3340 Intermediate Financial Accounting II F17 ... ?· ACCT*3340 Intermediate Financial Accounting…

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<ul><li><p>ACCT*3340 Intermediate Financial Accounting II F17 (Sections 01 &amp; 02) </p><p>0.5 credit </p><p>General Course Information </p><p>Instructor: Sandra Scott Email: sjscott@uoguelph.ca Office Location: MAC 202 Office Hours: Wednesdays, 4:30-6:30 pm Department/School: Department of Management </p><p>Class Schedule: Section 1: Monday/Wednesday/Friday 1:30 2:20 pm Section 2: Monday/Wednesday/Friday 3:30 4:20 pm </p><p>Pre-requisites: ACCT*3330 </p><p>Co-requisites: N/A </p><p>Course Description </p><p>The course will build upon the conceptual foundation developed in Intermediate Financial Accounting I. The focus of this second intermediate financial accounting course is on how enterprises account for liabilities and equity accounts including current and non-current liabilities, leases, pensions, income taxes, contributed capital, retained earnings and stock options. Additional topics will include accounting changes and error corrections. </p><p>Intermediate accounting is a nuts and bolts course focused on learning the core body of knowledge required to prepare financial statements for an organization. Consequently, there is a strong emphasis on applying this body of knowledge through practical problems. Intermediate accounting is a required course for those seeking a professional accounting designation and is recognized by the CPA professional associations. </p><p>*****Please note that the midterms in this course are held outside of normal class times both midterms are on Wednesdays from 5:30 7:00 pm. Please ensure you can arrange to attend the midterms.***** </p><p>Course Learning Outcomes </p><p>Upon successfully completing this course, you will be able to: </p><p>1. Apply generally accepted accounting principles and practices to situations with moderate complexity as they relate to the following topics: </p><p>a. Current liabilities b. Long term financial liabilities c. Accounting for leases, pensions, deferred taxes and asset retirement obligations d. Shareholders equity e. Other measurement and disclosure issues such as earnings per share, interim and </p><p>segmented reporting, subsequent events and related party transactions 2. Prepare financial statement information related to the above noted topics. </p></li><li><p>3. Analyze moderately complex accounting issues and research alternative treatments in support of a recommended solution. </p><p>4. Communicate effectively in oral and written format in response to less structured problems. </p><p>5. Contribute effectively in groups by fulfilling agreed commitments and maintaining a positive environment. </p><p>6. Demonstrate an awareness of ethical and professional reporting responsibilities as they relate to financial reporting. </p><p>Indicative Content Date Chapters/Topics Pre-Class Readings In-class activities </p><p>F Sep 8 Introduction -- -- </p><p>M Sep 11 Current &amp; non-financial liabilities I Kieso Ch 13 P13-1abde, P13-8 </p><p>W Sep 13 Current &amp; non-financial liabilities II HB I: IAS 1, 16, 37 HBII: 1510, 3110, 3290 </p><p>E13-16, P13-3 </p><p>F Sep 15 Case writing seminar for group case presentations/reports -- -- </p><p>M Sep 18 Long term liabilities I On-line Assts 1,2 due by 11 pm Kieso Ch 14 P14-10, E14-16 </p><p>W Sep 20 Long term liabilities II HB I: IAS 32, 39, IFRS 9 HB II: 3856 </p><p>P14-5, P14-2 </p><p>M Sep 25 Shareholders equity I On-line Asst 3 due by 8 am Group contract/calendar due </p><p>Kieso Ch 15 P15-3, P15-1 </p><p>W Sep 27 Shareholders equity II HB I: IAS 1 HB II: 3240, 3251, 3856 </p><p>E15-15, P15-2 </p><p>M Oct 2 Income tax accounting I On-line Asst 4 due by 8 am Kieso Ch 18 E18-15, P18-5 </p><p>W Oct 4 Multiple choice midterm (during class time) In the lecture hall </p><p>W Oct 4 Midterm exam #1 5:30 7:00 pm Location TBA </p><p>Covering Ch 13, 14, 15 </p><p>-- </p><p>M Oct 9 THANKSGIVING No classes </p><p>W Oct 11 Income tax accounting II HB I: IAS 12 HB II: 3465 E18-19, E18-26 </p><p>F Oct 13 Midterm exam #1 take-up </p><p>M Oct 16 Income tax accounting III P18-15 </p><p>W Oct 18 Complex financial instruments I On-line Asst 5 due by 8 am Kieso Ch 18 </p><p> P16-1 </p><p>M Oct 23 Complex financial instruments II HB I: IFRS 9 HB II: 3856 E16-8 excl 5,7, P16-6, P16-7 </p></li><li><p>W Oct 25 Earnings per share I On-line Asst 6 due by 8 am Group written assignment due by midnight </p><p>Kieso Ch 16 E17-8, P17-2 </p><p>M Oct 30 Earnings per share II HBI: IAS 33 E17-12, P17-5 </p><p>W Nov 1 Leases I On-line Asst 7 due by 8 am Kieso Ch 20 E20-5, P20-3 </p><p>M Nov 6 Leases II HB I: IFRS 17 (new) HB II: 3065 E20-7, P20-18 </p><p>W Nov 8 Multiple choice midterm (during class time) In the lecture hall </p><p>W Nov 8 Midterm exam #2 5:30 7:00 pm Location TBA </p><p>Covering Ch 18, 16, 17 </p><p>-- </p><p>M Nov 13 Pensions &amp; employee future benefits I On-line Asst 8 due by 8 am </p><p>Kieso Ch 19 E19-1, E19-15 </p><p>W Nov 15 Pensions &amp; employee future benefits I HB I: IAS 19 HB II: 3462 E19-9, P19-3 </p><p>F Nov 17 Midterm exam #2 take up </p><p>M Nov 20 Other measurement &amp; disclosure issues I On-line Asst 9 due by 8 am </p><p>Kieso Ch 23 E23-5, E23-6 </p><p>W Nov 22 Other measurement &amp; disclosure issues II HB I: IAS 10, 24, IFRS 8 HB II: 3820, 3840 </p><p>BE23-10, P23-9, P23-10 </p><p>M Nov 27 Accounting changes On-line Asst 10 due by 8 am Kieso Ch 21 HB I: IAS 8 HB II: 1506 </p><p>P21-3, P21-17 </p><p>W Nov 29 Term review/catch up </p><p>F Dec 1 Term review </p><p>TBD Final exam Time TBA Location TBA </p><p>Emphasis on Ch 20, 19, 23, 21, but covering entire course </p></li><li><p> Note: The schedule of learning activities may require modification from time to time. Any changes will be announced in class and/or on the Courselink site. The Friday Schedule: </p><p>Date On-line lecture topic &amp; on-line assignments </p><p>In-class schedule </p><p>F Sep 8 Current &amp; non-financial liabilities Full class: Introduction F Sep 15 Long term liabilities Full class: Case seminar F Sep 22 Shareholders equity Group case presentations F Sep 29 Complex financial instruments Group case presentations F Oct 6 Catch up (or get ahead) Group case presentations F Oct 13 Earnings per share Full class: Midterm #1 take up F Oct 20 Income tax accounting Group case presentations F Oct 27 Leases Group case presentations F Nov 3 Study for the midterm! Group case presentations F Nov 10 Pensions &amp; employee future benefits Group case presentations F Nov 17 Other msmt &amp; disclosure issues Full class: Midterm #2 take up F Nov 24 Accounting changes Group case presentations F Dec 1 Study for the final exam! Full class: Term review </p><p>Course Assessment </p><p>Assessment Weight Description Associated Learning Outcomes Due Date/ location </p><p>Assessment 1: 5% On-line homework 1 ,2 Refer to weekly schedule / on-line </p><p>Assessment 2: 20% Midterm Exam #1 1, 2, 4, 6 Oct 4 / 5:30 -7:00 pm </p><p>Assessment 3: 7% Group written assignment </p><p>1 - 6 Oct 25 / on-line </p><p>Assessment 4: 20% Midterm Exam #2 1, 2, 4, 6 Nov 8 / 5:30 -7:00 pm </p><p>Assessment 5: 8% Group case presentation </p><p>1 - 6 Refer to case schedule / in- class </p><p>Assessment 6: 40% Final Exam 1, 2, 4, 6 Dec 15 / 2:30 4:30 pm / TBA </p><p>Total 100% </p></li><li><p>Teaching and Learning Practices </p><p>The goal for this course is to help you develop the knowledge and skills that entry-level accountants are expected to possess. Accordingly, there will be strong emphasis on problems to give you practice at applying accounting principles and practices. The material in this course is complex and experience shows that the best way to learn the materials is to work through the problems on your own without looking at solutions. Only after attempting problems should you look at solutions to check that you have understood the materials. </p><p>The course will be run as a hybrid in-class/on-line course, with on-line learning substituting for class meetings on most Fridays. On-line learning materials will consist of narrated Powerpoint presentations and a selection of brief exercises from the text which are to be completed through WileyPlus. </p><p>A typical week will include the following learning activities: </p><p>Background Readings </p><p>Each topic contains readings about related concepts and issues. Readings are to be completed prior to attending class. </p><p>On-line presentations </p><p>Narrated Powerpoint presentations will be available on the course website. Friday lectures are generally set aside for viewing these presentations and completing the related on-line homework. The schedule of on-line presentations is shown as part of the Friday Schedule above, but can be accessed anytime. They should be viewed on or before the date shown o nthe Friday schedule, as they will be covered in class the following week. </p><p>On-line homework </p><p>Homework related to the narrated presentations will consist of a selection of brief exercises from the text, and can be found at the WileyPlus website. The homework will be available for completion until early in the morning on the day the topic is first scheduled to be covered in class. These are straightforward exercises that will prepare you for the more complex questions we will cover in class. </p><p>Problems for class discussion </p><p>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. You are to attempt the in-class problems prior to attending class. </p><p>Self-study problems </p><p>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. Solutions to a selection of additional problems from the text will be posted to Courselink. </p><p>The following additional learning activities will take place during the term: </p><p>Group written assignment </p><p>The group written assignment will provide you and your group members with an opportunity to delve more deeply into one of the topic areas in the course. The assignment will include some less directed elements, and will require demonstration of strong writing and organizing skills. </p><p>Group case presentation </p><p>Most Friday lectures will consist of student-led case analyses, prepared in advance and presented during class. In addition to the in-class presentation, all groups will submit a written report. </p></li><li><p>The emphasis in this course is on learner-centredness, in accordance with the Universitys Mission Statement, and as such, there is a significant element of self-teaching involved. The time commitment will be commensurate to other types of courses but the benefit to students working on the problem components outweighs the time commitment. </p><p>Course Resources </p><p>Required Texts: Kieso, et al., Intermediate Accounting, Volume II, 11th Canadian Ed., John Wiley &amp; Sons Canada Ltd., 2016. </p><p>[The text may be purchased in hard copy with WileyPlus access or as the online eBook version. For students who are planning to pursue the CPA designation, we recommend the hard copy. The material in this course is examinable within the professional program, and its useful to have the reference from which you originally learned the material. The e-book provides access only for 6 months.] Note that used textbooks do not include WileyPlus access. </p><p>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. </p><p>Course Policies </p><p>Missed assessments There are no deferred on-line assignments or midterms. </p><p>You must inform the instructor via email (sjscott@uoguelph.ca) on or before the day of the exam if you are unable to attend a midterm. All absences must be supported by documentation provided within one week of the missed examination date. Students who do not report and document absences from missed midterms within the timelines noted above will receive a grade of zero for the missed examination. Please note that missed final examinations must be reported to the BComm Counselling Office in MAC 106, or at bcomm@uoguelph.ca. It is the students responsibility to report/document the absence AND to request a deferred examination. </p><p>Late group assignments Unless you have discussed an extension well ahead of the due date, late penalties of 5%/earned grade/day (including weekends) will be assigned. Extensions will only be granted on the basis of extenuating circumstances. </p><p>Grade re-assessments Students wanting to resubmit their midterm or group project for a grade re-assessment must do so within one week of the date the quiz or midterm was returned to students in class. </p><p>Midterm exams Please note that the midterms in this course are held outside of normal class times both midterms are on Wednesdays from 5:30 7:00 pm. If this timing creates a conflict with another course, please inform the instructor as soon as possible. Otherwise, please ensure you can arrange to attend the midterms. </p><p>The midterm exams have two components: an optional (but highly recommended) multiple choice exam (offered during regular class time), AND a mandatory, written exam in the evening. </p><p>On-line communication </p></li><li><p>I will be communicating with you via your central email account (@mail.uoguelph.ca) from time to time. You are required to check this account on a regular basis. Please be advised that I will not edit my mailing lists to your hotmail/gmail etc. account. While I endeavour to check my email daily, you can reasonably expect a response within 48/72 hours. </p><p>Group work Some of the coursework for this class will be done in groups. You are responsible for forming your own group of three members and for registering your group through Courselink. Your groups grade depends on the contribution of each member. Students are expected to do everything possible to ensure good working relationships with fellow group members and resolve conflicts and differences of opinion as they occur. Peer evaluations concerning each members contribution to the group assignment will be conducted and will inform half the marks assigned to each group submission. Peer evaluations must be completed through the online PEAR system. Please note that late peer evaluations will result in deductions from individual members group project grades. </p><p>Authorized vs. unauthorized collaboration Many students find it helpful to consult their peers while doing assignments. This practice is legitimate and is expected. However, the written assignments are required to be the work of the individual only (for individual assignments), and individual group members only (for the group assignment). Therefore, it is not acceptable practice to pool notes/files and produce common answers. To avoid unauthorized collaboration, it is suggested that students do not write anything down during peer consultations/discussion, but keep mental notes for later development on their own. Major occurrences of academic dishonesty, such as the submission of work that is not the individuals/groups own, will be dealt with according to the procedures set out in the Senate guidelines, and may result in expulsion from the University. </p><p>Retention of graded work Keep a copy of all of your graded work until final marks have been recorded. You may be asked to resubmit your work at any time. Use of electronic devices and recording of lectures Electronic recording of...</p></li></ul>

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