ACCT 302
INTERMEDIATE ACCOUNTING II
SPRING SEMESTER 2009
Instructor: Susan A. Lynn, DBA, CPA
Office:
Office
Hours: Tuesday, 2:00-3:00
p.m., 4:15-5:15pm.; Thursday, 2:00-3:00 p.m
Phone: 410 - 837-5099 (Office)
410
-837-5722 (Fax) (Please call and let me know when you are faxing me materials.)
Email: slynn@ubalt.edu
Course
Web Site: http://home.ubalt.edu/ntsblynn/
Langsdale Library Course Reserve
Page: http://webreserves.ubalt.edu/eres/coursepage.aspx?cid=568
(password- Chaucer)
Text Website: http://highered.mcgraw-hill.com/sites/0072994029/student_view0/index.html
COURSE OBJECTIVES:
A. To
review in detail the major issues related to the following topics in financial
accounting:
1.
operational assets
2.
investments
3.
time value of money concepts
4.
bonds and long-term notes
5.
stockholders’ equity
6. earnings per share
B. To
develop the student's analytical, written, and problem solving abilities in
accounting.
C. To develop the student’s understanding of the differences between US GAAP and IFRS.
D. To develop the student’s IT capabilities
related to accounting (e.g., spreadsheets, internet research, on-line
accounting databases)
PREREQUISIT
ACCT 203 and 204 (Principles of Accounting) and ACCT 301
(Intermediate Accounting I) are prerequisites for ACCT 302. Students are
expected to take the responsibility for reviewing material from these courses
on their own.
TEXTS: Spiceland, Sepe, and Tomassini, Intermediate Accounting, Fourth
Edition, or Fourth Edition Update, McGraw-Hill, 2007.
A Student Study Guide and
Working Papers are available but are not required.
Gleim
and Collins, Financial Accounting: Exam Questions and Explanations,
12th edition or 13th edition, Gleim Publications, 2005 or 2007.
ACADEMIC INTEGRITY:
The
All members of our community share responsibility for actively fostering academic
honesty, actively discouraging academic dishonesty, and engaging in ongoing
discussion of activities that may violate the spirit of honesty. Although the academic integrity policy places
primary emphasis on fostering honesty, it also provides clear consequences for
behavior that violates the policy, together with fair procedures for judging
alleged cases of dishonesty.
This
course is conducted in accordance with the Academic Integrity policy of the
that honesty is the foundation of personal integrity
that
honesty promotes substantive learning
that
honesty validates the recognition of scholarly achievement
that
honesty demonstrates respect for the work of others, enabling effective
cooperation.
STUDY TIME
REQUIREMENTS:
ACCT 302 requires a
significant and regular time commitment from the student. You should plan
to spend a MINIMUM of 10-12 hours per non-exam week in studying for the course.
I believe teaching is a
passive process while learning is an active process. I believe that my function
is to help you learn not to "teach" you. I will make a
substantial and sincere effort to help you be successful in the class. I expect
you to make that same type of effort to help yourself.
In order to be
successful in the class, I suggest you use the following approach:
1. There is no
substitute for reading the chapters in your text thoroughly. (I suggest a
minimum of three times over the course of your study of each topic).
2. There is also no
substitute for working all the questions, cases, exercises, and problems
assigned before the class in which they are discussed. ACCT 302 is a
problems course. My experience convinces me that working the written
assignments on your own is essential to understanding the logic and
theory that underlies them. It is also essential for retaining the material and
developing the ability to apply the theory and procedures studied to new
situations. Merely reviewing solutions after they have been presented in class
does not present a sufficiently intense learning experience to promote
learning.
3. A helpful tool for
reviewing the course material as well as for preparing for the multiple choice
questions on the exam is Gleim and Collins, Objective Questions and
Explanations, 12th edition and the multiple choice questions in your
textbook (solutions are posted on the course website).
4. Tutoring for this
course is available from the
ORGANIZATION OF
COURSE:
Classroom activities in
the course will vary depending on the material covered and may consist of
interactive lectures, problem solving activities, and small group
activities. Before we discuss a chapter in class, I expect you to have
read and studied the reading assignments in the chapter. I also expect
you to work assigned case, exercise, and problem material before we review the
material in class. I have found that students are not likely to be successful
in Intermediate Accounting if they only review solutions as they are
discussed in class.
The reading and written
assignments are listed in the class calendar. I will review some written
assignments as part of my lecture on each chapter. Some written assignments
will be collected and graded as homework. In addition, because ACCT 302 is a
problem oriented course, I will provide you with solutions to additional
problem material which you can review on your own and which we can discuss in
class if you have additional questions about the material. I expect you to work
through "basic" material on your own so that we can spend class time
on more complex materials.
The class calendar is subject to revisions; these will be announced in class. Students are responsible for being familiar with these revisions whether or not they have been absent from class. Although I will not take attendance, I encourage you to attend class regularly in order to be successful in the course.
SMALL GROUP ACTIVITIES
In order to develop
students’ problem solving skills, we will be working in small groups during the
semester. Students are responsible for the learning that goes on in these
groups. Students will be assigned to groups at the second class meeting. During
group activities, we will be sometimes be using a form of Problem-Based
Learning (PBL). During PBL you will encounter an accounting problem first in
the learning process and will then proceed to seek the accounting concepts
needed to solve the problem. In each phase of a PBL problem, you will need to
ascertain what you know that will help you decipher the problem and what
additional information you need to resolve the issue. These are the keys to
succeeding in the problem solving process. PBL more closely approximates the
kinds of problems and the approaches to finding financial accounting solutions
that you will face in your professional career.
In order for group activities to achieve their full potential, all members of a group must be present and arrive for class on time. In my experience students who have missed class or arrive late have experienced difficulty keeping up with the material. However, I recognize that absences and lateness may occur. For this reason, if more than ten in-class group exercises are collected, a maximum of two of your lowest grades will be dropped.
LEARNING
OBJECTIVES: Students will be given detailed
learning objectives for each topic studied in the course. These are listed on
the outlines provided for each chapter. Learning objectives includes behavioral
verbs in the following skill categories:
• Knowledge
(ability to recall previously learned material)
• Comprehension
(ability to grasp meaning, explain, restate ideas)
• Application
(ability to use learned material in new situations)
• Analysis
(ability to separate material into component parts and show relationships
between parts)
EXAMS:
Exams will consist of
problems, short essays, and multiple choice questions. The material
covered on the exams will be announced in class. The final exam is
comprehensive. The final examination will be held on the date listed in the
schedule of classes.
No make-up exams will
be given. You must contact me prior to an exam which is missed or a
grade of zero will be given. Absences from exams because of illness
require a doctor's written excuse. All other absences must be approved by
me and will require appropriate documentation. Absences from the final
examination will not be excused except for illness on the day of the
examination. It is the responsibility of the student to notify the
instructor and provide requested documentation. If you miss an exam (with
an approved excuse), the comprehensive final will count as your score for the
exam that is missed.
HOMEWORK:
I will collect homework
at the beginning of each class meeting announced as a homework
collection date. Homework cases, exercises, and problems are to be completed in
neat, legible fashion on 8 ½ x 11 sheets, analysis tablets or working
papers. Students are responsible for meeting homework collection dates whether
or not they have been absent from class. NO late homework will be accepted.
Xerox all homework problems that will be collected. If a student must miss a
class, he or she may turn in all problems assigned for the day prior to
the class meeting.
READING
VERIFICATION FORMS:
I will collect reading
verification forms (to help ensure that you are reading the text before we
discuss it in class) at the beginning of the class for which they are
due. Students are responsible for completing these forms whether or not they
have been absent from class. NO late forms will be accepted. If a student must
miss a class, he or she may turn in the reading verification form for the day prior
to the class meeting.
COURSE GRADE:
The student's course
grade will be determined as follows:
|
Exams (4 @ 50 points) |
200 points (40%) |
|
Final Exam |
160 points (32%) |
|
* Homework |
20 points (4%) |
|
* Reading Verification
Forms |
20 points (4%) |
|
Group
Activities |
40 points (8%) |
|
** Writing, IFRS Research, and Computer Projects |
60 points (12%) |
|
Total |
500 points |
* If more than seven homeworks or more than five reading verification forms are collected, a maximum of your two lowest homework and two lowest reading verification form scores will be dropped. If more than ten in-class group exercises are collected, a maximum of two of your lowest grades will be dropped.
** The requirements for
the writing, IFRS research, and computer
projects are detailed in separate handouts. All projects must be submitted
in order to receive a passing grade for the course. 10% of the total points for
a project will be deducted for each day a project is late.
The computer project
requires you to have basic knowledge of a spreadsheet package such as Excel or
Quattro Pro. You are required to familiarize yourself with the basic features
of a spreadsheet package if you have not already done so. Learn how to
reference cells in the spreadsheet, how to write simple equations using data
contained in the cells, how to copy an equation in one cell to a series of
other cells, how to save the spreadsheet to your data diskette, and how to
print the spreadsheet. You will not need to use the database features of the
software, graphing capabilities, or macros.
Letter grades for the
course will be assigned based on the total number of points earned by the
student using a scale which will be determined at the end of the course.
I do not generally "curve" grades. However, there are several ways in
which you can "earn a curve" for the course. Each exam will have more
points than those listed above. In addition, you may "earn a curve"
through the homework and reading verification forms as explained in class. In
addition, after computing all grades, I will take a final look to determine the
fairness of the grades. A strong score on the comprehensive final exam is the
best evidence you can give me that you deserve a higher grade.
During the course,
students may judge their performance using the following scale:
|
Letter Grade |
Required Points |
|
A |
450 |
|
A- |
434 |
|
B+ |
417 |
|
B |
400 |
|
B- |
384 |
|
C+ |
367 |
|
C |
350 |
|
C- |
334 |
|
D+ |
317 |
|
D |
300 |
|
D- |
283 |
|
F |
below 283 |
SCHEDULE OF ASSIGNMENTS
Note: The specific assignments (homework, reading
verification forms, etc. ) due each week will be announced in class and posted
on WebTyco.)
Note: Class sessions after the dates exams are scheduled are reserved as alternate exam dates in case of exam postponements because of weather, etc.
|
Week Of |
Chapter |
Topic |
Multiple Choice Modules in Gleim |
Assignment in Spiceland |
|
1/27 |
6 |
Introduction Diagnostic Testing Time Value of Money Concepts |
4.1 thru 4.3 |
E4,6,7,8,9,11,12,13,14,15,16,17,18 P2 Handout |
|
2/3 |
14 |
Bonds and Long-Term
Notes |
12.1 thru 12.6, 10.6, 15.6 |
E3,4,5,6,7,10,11,12,13,14,15,16,24, 25,26 P3,4,5,8,9,10,11,12,14,18,20 Handout |
|
2/10 |
14 (cont.) |
|
|
|
|
2/17 |
12 |
EXAM I Investments |
|
P1,2,6,7,8,9,10,11 Handout |
|
2/24 |
12 (cont.) Handout |
Accounting for Fair
Value |
|
Handout |
|
3/3 |
10 |
EXAM II Operational Assets -
Acquisition and Disposition (Omit Appendix) Handout on
exchanges |
7.1,7.2, 7.5 9.1 thru 9.5,12.7 |
E1,2,3,4,5,6,7,8,9,10,12,20,21,22,23,24,26 P1,6, 7, 8,10 Handout |
|
3/10 |
10 (cont.) |
COMPUTER PROJECT
DUE |
|
|
|
3/17 |
|
SPRING BREAK |
|
|
|
3/24 |
10 (cont.) 11 |
Operational Assets -
Utilization and Impairment (Omit Appendices 11-A
and 11-B) |
7.3, 8.1 thru 8.4 |
E1,2,3,4,6,7,9,
10,11,12,13,14,15, 16,18,19,20,21,22,24 P4,7,8,12 Handout |
|
3/30 (Mon.) |
|
Last Day to Drop
with a “W” |
|
|
|
3/31 |
11 (cont.) |
EXAM III |
|
|
|
4/7 |
|
No Class |
|
IFRS Web Assignment |
|
4/14 |
11 (cont.) |
EXAM IV |
|
|
|
4/21 |
18 |
IFRS Web Assignment
Due Stockholders’ Equity (Omit Appendix) |
3.1,3.5, 15.1 thru 15.4 |
E1,3,4,5,6,7,8,9,13, 15,19,20 P2,3,5,9,10 |
|
4/28 |
18 (cont.) 19-B |
Earnings per Share
|
16.1-16.2 |
15,16,17,18,19,21 P8,11,12,13,14 |
|
5/5 |
19-B (cont.) |
|
|
|
|
5/14 (Thurs.) |
|
FINAL EXAM 11:30-2:00 pm |
|
|