Accounting 319-01: Intermediate Accounting II

Course Syllabus

Spring 2008-09

Instructor: Dr. Ed Arringtonemail:

Office:337 BryanOffice hours:12:30-1:30 TR

Phone:336-256-0116(or by appointment)

Course resources:

Required textbook: Intermediate Accounting (12th edition). Kieso, Weygandt & Warfield.

Recommended textbook: Gleim, Irvin M. & William A. Collins, Financial Accounting: Exam Questions and Explanations (13th Edition). Gleim Publications, Inc. (2007). ISBN#:978-1-58194-575-1

Text website:

Blackboard website:

Prerequisites: Admission to the accounting program or other approved program; grade of C or better in ACC 218, 202 and 318; junior standing.

Course description: The second course in the two-course intermediate accounting sequence, ACC 319 continues the examination of the preparation, presentation, interpretation, and use of financial statements. ACC 319 is a prerequisite course for ACC 440 and ACC 450.

Course objectives:

Mastery of the material in ACC 319 will enable you to:

  • Understand the importance of the financial reporting function in society and the role of financial accounting
  • Have a better understanding of the theory and practice underlying the preparation and presentation of financial information in accordance with generally accepted accounting principles (GAAP)
  • Appreciate the theory underlying the conceptual framework developed by the Financial Accounting Standards Board and the guidance it provides in developing and implementing accounting standards
  • Appreciate the necessity for exercising professional judgment in financial reporting
  • Understand the ethical issues inherent in financial reporting and develop ethical decision-making skills
  • Appreciate the limitations of financial statements

Course Philosophy:

Mastery of the material covered in this course is essential for professional accountants, regardless of specialization. As future accounting professionals you must be prepared for a significantly more challenging and complex environment than ever before. It is no longer sufficient to obtain narrow technical training largely based on the memorization of existing rules and regulations. It is important that you acquire a thorough comprehension of the principles that govern financial accounting and reporting and that you are able to apply these principles to existing problems as well as to emerging issues. You also need to be aware of the ethical and international aspects of accounting and must be able to communicate information clearly and concisely.

Grading:

The grading formula for undergraduates and for graduate students differs. The UNCG Graduate School does not permit grades of D for graduate students. As such, any grade below 70% will be scored as an F for graduate students. Undergraduates will be graded according to the percentages indicated in the section “Requirements for specific grades” described below. For scores above 70, the grading scale is the same for graduate students as it is for undergraduate students.

The relative importance of assignments in calculating course grades is as follows:

Semester Exam 130%

Semester Exam 230%

Cumulative final exam30%

Class participation 10%

Requirements for specific grades are:

A+ = 97 and above; A = 93 to 96%; A- = 90 to 92%

B+ = 87 to 89%; B = 83 to 86%; B- = 80 to 82%

C+ = 77 to 79%; C = 70 to 76%

D+ = 69 to 67%; D = 63 to 66%; D- = 60 to 62%

F = Below 60%

Note that an accounting major requires a grade of at least a C to take further courses in accounting.

Exams:

Two midterm exams and a final exam will be administered as part of this course. The exams will consist of objective questions (e.g., multiple choice), subjective questions (e.g., short answer and/or essay), and problems. The two semester exams will be administered during class time on the dates indicated in the course schedule. Failure to attend class on the date of an exam will result in a grade of zero unless: (a) I am notified in advance; (b) the reason for missing the exam is valid; and, (c) acceptable documentation of the reason can be provided. If all three of these conditions are satisfied, a makeup exam will be administered at the earliest possible date following the scheduled exam. If these conditions are not met, then a grade of zero will be assigned to the missed exam.

Class participation:

Class participation accounts for 10% of your course grade. Class attendance is mandatory. Homework will be collected randomly throughout the semester. The homework and your participation in class count toward your class participation grade.

Academic Integrity Policy and Faculty and Student Guidelines:

We are all bound by the UNCG Academic Integrity Policy. Please read it at . I will follow through on suspected violations of that policy in a manner consistent with the provisions of that policy. I will also require us to adhere to the BryanSchool’s Faculty/Student Guidelines. These are available at .

Other Comments:

Accounting 319 is a rigorous and time-consuming course. It requires in-depth study and analysis and should not be undertaken casually.

  1. Do not take this course in conjunction with a full class load, full-time work and an extensive social life. One or more of them will have to go. This course will require a substantial amount of time. You should plan to attend every class meeting prepared (having read and worked assigned problems ahead of time!)
  2. Avoid too many similarly demanding courses.
  3. Stay up-to-date in all assignments.
  1. Consult me BEFORE YOU ARE HAVING SERIOUS DIFFICULTIES

COURSE ASSIGNMENTS

All assignments are due at the start of class on the dates indicated. This means that you will do your reading and homework BEFORE we cover that material in class. That sometimes bothers students. However, understanding of and competence in this material is best served under this system. If you have not done the reading and the homework, our class time will be much less beneficial to you. On days when I collect your homework, I will NOT ACCEPT late assignments. Don’t ask.

January 20, Tuesday / Introduction; Dilutive securities / Chapter 16, pages 777-785 / Chapter 16, Exercises 1,2,3,4,7,9
January 22, Thursday / Stock compensation plans / Chapter 16, pages 785-793. / Chapter 16, Exercises 10, 12. Concepts for Analysis (CA) 16-4.
January 27, Tuesday / Earnings per share / Chapter 16, pages 793-806. / Chapter 16, Exercises 15, 16,23,24,25.
January 29, Thursday / Completion of Chapter 16 / Appendix A and Appendix B to Chapter 16.
February 3, Tuesday / Investments in Debt Securities / Chapter 17, pages 837-846. / Chapter 17, Exercises 1, 3,5, 6
February 5, Thursday / Investments in Equity Securities and Disclosure Issues / Chapter 17, pages 847-862. / Chapter 17, Exercises 11, 12, 16.
February 10, Tuesday / Revenue Recognition / Chapter 18, pages 905-917. / Chapter 18, Exercises 1, 2. Problem 4.
February 12, Thursday / Revenue Recognition / Chapter 18, pages 918-935. / Chapter 18, Problems 2, 10, 11.
February 17, Tuesday / Revenue Recognition / Chapter 18, pages 935-940. / Chapter 18, Exercises 19, 21. CA 10.
February 19, Thursday / REVIEW
February 24, Tuesday / EXAM – CHAPTERS 16-18
February 26, Thursday / Accounting for Income Taxes / Chapter 19, pages 963-976. / Chapter 19, Exercises 2, 3,4,5,6.
March 3, Tuesday / Accounting for Income Taxes / Chapter 19, pages 976-990. / Chapter 19, Exercises 9,12,14,17.
March 5, Thursday / Accounting for Income Taxes / Chapter 19, pages 992-999.
March 17, Tuesday / Accounting for Leases / Chapter 21, pages 1087-1102. / Chapter 21, Exercises 1, 2,8,11.
March 19, Thursday / Accounting for Leases / Chapter 21, pages 1102-1116. / Chapter 21, Exercises 4, 6, 7,9,10.
March 24, Tuesday / Accounting for Leases / Chapter 21, pages 1116-1131. / Chapter 21, Exercises 15,16. Problems 12, 15.
March 26, Thursday / REVIEW
March 31, Tuesday / EXAM – CHAPTERS 19 AND 21
April 2, Thursday / Accounting changes – changes in principles. / Chapter 22, pages 1151-1163. / Chapter 22, Exercises 1,2,4,5.
April 7, Tuesday / Accounting changes --changes in estimates and changes in entities. / Chapter 22, pages 1164-1173. / Chapter 22, Exercises 11,12. Problem 4. CA 6.
April 9, Thursday / Accounting changes and error analysis / Chapter 22, pages 1174-1187. / Chapter 22. Exercises 15,17,19,23.
April 14, Tuesday / Cash Flow Statement / Chapter 23, pages 1211-1224. / Chapter 23, Exercises 1,3,6,8.
April 16, Thursday / Cash Flow Statement / Chapter 23, pages 1224-1242. / Chapter 23, Exercises 9,11,12.
April 21, Tuesday / Cash Flow Statement / Chapter 23. pages 1242-1251. / Chapter 23, Exercises 17, 19, 21.
April 23, Thursday / Accounting for Pensions (use updated Chapter 20) / Chapter 20, pages 1019-1028 / Chapter 20, Exercises 1,2,6, and part (a) of Exercise 9
April 28, Tuesday / An introduction to governmental accounting / To be determined
April 30, Thursday / An introduction to not-for-profit accounting / To be determined
May 12, Tuesday / FINAL EXAM, 3:30-6:30