s y l l a b u s
ACCY 113: Intermediate Accounting 3
prof charles j davis
california state university, sacramento
college of business administration
Spring, 2013
accy 113 31389 sec 1 tu th 1:30 – 2:45 tah 1003
OFFICE: TAH 2092, 278-7145
Online office hours TU 12:00 – 1:30
Physical office hours TH 4:30 – 6:00
This is a hybrid class. Office hours for the online class session days (TU, except for first day of class) are online only. Office hours for the in-class session days (TH) are in my office.
During the online hours I will be available online for emails, chat, and phone calls (email me first to set up a call as I will not be in my office).
I can also make in-person or phone appointments at other mutually agreeable times, via email.
TEXT: Intermediate Accounting, Spiceland, Sepe, Nelson, 6e (McGraw-Hill Irwin).
SacCT. This class uses SacCT for all course materials other than the text and examinations. There are no hardcopy handouts. Items include class notes, solutions to assigned homework and exams, your scores, email and announcements.
CLASS TIME. We cover the important aspects of each chapter, and some homework. It is essential that you read the current chapter before coming to class. Otherwise you will be a passive occupier of your chair and will learn only a fraction of what you otherwise would.
· Half of the class sessions are online sessions—on Tuesdays (except for first day of class)
· Half the class sessions are in-class sessions i.e. held in the regular classroom—on Thursdays
Bring a name card (large letters) for display in each in-class session.
The online sessions provide the same lecture format as for the in-class sessions except that you view them from your computer. In SacCT you click on the appropriate link and a video recording of the material for the lecture is provided. You may pause, rewind and revisit these recordings as often as you like although I recommend that you view them once, pausing to take notes, and then reviewing specific points as needed.
The online sessions are asynchronous (instructor and student are not online at the same time). You can "attend" the online sessions anytime you wish after they are posted. However, it is critical that you view the online session BEFORE you come to class on the subsequent Thursday.
There will be several links for each online class in order to maintain a manageable file size. To complete an online session for a specific date, you must listen to each recording listed for that date.
See the assignment schedule at the end of this syllabus for a listing of class sessions by date and type.
Class attendance is critical and this applies to both the in-class and online sessions. Not viewing the ONLINE sessions is exactly the same as cutting an IN-CLASS session. You cannot learn this material as effectively by simply reading the text and posted notes.
I have compared the grades of those who attended regularly in the past with those who did not, and there is a very significant difference in course grade. It has everything to do with attitude and commitment.
The presentation notes for each class meeting are posted after the class. This is to allow you to think and interact during class, rather than having to record a large volume of notes. However, you should still record your own notes and then merge these with the posted notes. By going over the class notes the same day or evening as the class period and incorporating your notes into the presentation notes, you will retain much more.
View the online sample class session posted in SacCT for an example of an online session.
COMMUNICATION: It is very important for the instructor and student to interact. When you have questions, don’t let them slide--email me! Also make use of the office hours and if you prefer not to come to campus, let’s use the phone. Get to know your fellow students and use the communication avenues available within SacCT.
COURSE MISSION: The mission of this course is to facilitate your learning of the subject matter generally known as intermediate accounting. Learning the course material extends well beyond memorizing and understanding the relevant GAAP. You should be able to apply your knowledge to practical situations and also be able to critique GAAP and suggest alternative recognition and measurement methods. This is the third of three courses in Intermediate Accounting.
COURSE OBJECTIVES: After successfully completing ACCY 111-113, students should have an in-depth knowledge of:
1. How financial information provides information about a company’s economic resources, obligations, owners’ equity, income and its components, and its cash flows
2. The development and application of basic assumptions, principles and constraints underlying financial statements.
3. Information derived from financial statements and the limitations of that information.
4. The use of accounting information to evaluate a company’s return on investment, risk, financial flexibility, liquidity, and operational capability.
In addition, students should have in-depth skills of
1. Critically evaluating the practical application and economic consequences of specific accounting standards.
2. Expressing one’s technical and evaluative knowledge in oral and written form.
3. Discerning the ethical issues and judgments involved for selected financial reporting issues.
Ethics in Accounting. As recent accounting, auditing and financial scandals indicate, it is important for accountants and managers to act in an ethical and professional manner. The need for ethical behavior underlies much of the material covered in this course. As you read the text and class notes, focus on management’s incentives for choosing from among acceptable GAAP choices, and the factors that may provide a context leading to unethical behavior and reporting.
Be aware of the pressures brought to bear on managers and accountants to deviate from ethical norms. Frequently imagine yourself in the job situation—how would you behave? Would you ever subordinate your best judgment to meet the demands of your superiors? Would you cross the line to meet an earnings target?
It all comes down to this: if you are in a position to advance your goals unethically, would you do so?
This extends directly to the student. Cheating is prohibited by university rules, and also by common ethical standards. On this point, cheating on an exam is punishable by failure in the course and even expulsion from the major or university. Please don’t engage in this type of behavior.
Goals: To supplement the objectives, the following goals are stated.
(1) learn applicable GAAP: a very large body of knowledge in this course,
(2) develop your ability to apply GAAP and solve problems requiring the analysis of financial accounting information (if you cannot apply your knowledge then you really don't understand the material),
(3) develop your ability to critically evaluate the appropriateness of current GAAP (what is the purpose of these principles and do they meet their objectives--can you suggest improvements to these principles),
(4) develop your verbal and written communication skills and an awareness of ethical issues in the financial reporting arena,
(5) develop your ability to work with others, and
(6) develop your ability to interpret financial statements.
Strategies and methodologies:
· read the chapter before class—you will enjoy this class more and participate more
· take good notes during lecture and be mentally active during class
· review class notes including your own
· attempt the homework
· review the homework solutions
· self-test—do you understand the material
· review topics that are more difficult for you
For all the above, strive to understand the material.
· Do you know it?
· Can you apply it?
Rote learning and memorization of accounting standards are deemphasized in this class. I expect you to have gained an understanding of the material before class so you can discuss issues. That preparation will foster the ability to consider alternative solutions to financial accounting issues, and to provide evaluations of present and other possible solutions.
ASSESSMENT OF LEARNING: examinations,in-class participation. This course stresses written communication skills. The exams include open-ended questions. The emphasis on the accountant's ability to communicate has greatly increased. Employers almost universally state that students’ communication skills need improvement.
PRACTICE. As with any other activity, you cannot become proficient without experience. Experience here means practice and that means, homework and extra homework (ask for solutions to check your work). My class notes will have examples to supplement the text. You will have plenty of examples.
CLASSROOM NOTES. Lecture notes will be placed on the web after each class (assuming the classroom is computer equipped). However, you should take your own notes during class and then integrate those in with those on the web.
Given class time constraints, we cannot cover all topics in the notes, and I typically post more notes than are covered in class. We will often “skip over” portions of the posted notes to spend more time on the critical topics.
GRADE:
Class attendance is critical. You cannot learn this material as effectively by simply reading the text and posted notes. I have compared the grades of those who attended regularly with those who did not, and there is a very significant difference in course grade. It has everything to do with attitude and commitment.
Assessments: 4 exams (including the final which is the 4th exam). Each exam is worth 100 points and each is in-class.
The exams are not cumulative. The exams are listed on specific dates in the schedule below. These dates are definite. There are no make-ups.
The exams are 60-40 multiple choice – open ended in format. This mix mimics the format of the CPA exam.
The exams test basic knowledge of the subject AND application to situations you may not have encountered before. You must do the homework and the reading before class to be successful.
The multiple choice questions will reflect a mixture of quantitative and verbal items, most of which require you to apply your knowledge. The multiple choice questions are not trivial. They are not easy simply because they are multiple choice questions.
The material covered in class is the most important material for the exams. Given class time constraints, we cannot cover all topics within the textbook, but reading the textbook before class is the most important way to ensure strong performance on the exams.
Grading is on the curve. Approximate cutoffs for letter grades are provided for the exams. I require strong performance for the higher grades, and a definite minimum performance for a passing grade.
Class participation can be a positive factor—you cannot participate if you do not attend. I encourage participation and it helps in deciding border-line grades in some cases.
Homework.
(1) Reading the text and attempting the homework BEFORE class is the key to your success. You will not only get more out of each class period, but you also will feel more involved in the class and identify with it. Committing to the work moves you from passive observer with neutral or even negative attitude toward the class, to an active participant with a positive view of the class.
(2) Then also make sure you review the solutions to the homework after you attempt it yourself.
There is a sound educational purpose to attempting the homework yourself and writing out the solutions. In my experience, students who conscientiously do the homework do much better in the course. Part of the reason is that in order to do the homework, the material in the chapter must be mastered to a reasonable degree.
Given class time constraints, we will not cover all or even a large portion of the homework in class. However, you will have access to the solutions so there is no excuse not to cover all the assigned homework.
Most common question from students. “How can I do better?”
My answer. “Spend more quality time reading the text, the notes, and practicing homework.” Your goal is to understand the material. Memorization is insufficient.
ASSIGNMENT SCHEDULE
Each day of the schedule below is noted as either in-class or online.
The assignment of chapters by week is approximate—our progress in class may vary somewhat. The exam dates are fixed, however.
You will note that entire chapters are listed on one day, then “continued” on later days. We won’t cover an entire chapter in one class period. Try to maintain a reasonable pace in your reading.
All the homework for a chapter is listed on one line but we will cover some homework as we go through the topics. It is not possible to provide the date for specific homework coverage. In the homework listings, E refers to exercise, P to problem. In the chapter 21 homework listing for example, all of the items listed are exercises, except for the last one, which is problem 6.
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TU 1/29 IN-CLASS
Read entire syllabus
View the entire online sample class session
Chapter 5 Revenue
Ch 5. homework: E3,4,9,11
TH 1/31 IN-CLASS
Continued
______
TU 2/5 ONLINE
Continued
TH 2/7 IN-CLASS
Continued
______
TU 2/12 ONLINE
Chapter 21 Statement of Cash Flows (SCF)
Ch. 21 homework: E1,2,3,14,21,11,12,16,27,P6
TH 2/14 IN-CLASS
Continued
______
TU 2/19 ONLINE
Continued
TH 2/21 IN-CLASS EXAM 1
______
TU 2/26 ONLINE
Continued
TH 2/28 IN-CLASS
Continued
______
TU 3/5 ONLINE
Chapter 16 Income Tax
Ch. 16 homework: E1,5,3,6,7,10,16,18,20,21,25
TH 3/7 IN-CLASS
Continued
______
TU 3/12 ONLINE
Continued
TH 3/14 IN-CLASS
Continued
______
TU 3/19 ONLINE
Continued
TH 3/21 IN-CLASS EXAM 2
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Spring Break
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TU 4/2 ONLINE
Chapter 17 Pensions/OPEB
Ch. 17 homework: E1,2,4,7,8,10,11,13,14,16,17,25,26,27
TH 4/4 IN-CLASS
Continued
______
TU 4/9 ONLINE
Continued
TH 4/11 IN-CLASS
Continued
______
TU 4/16 ONLINE
Continued
TH 4/18 IN-CLASS
Chapter 20 Accounting Changes
Ch. 20 homework: E2,7,18,11,24,25
______
TU 4/23 ONLINE
Continued
TH 4/25 IN-CLASS EXAM 3
______
TU 4/30 ONLINE
Continued
TH 5/2 IN-CLASS
Chapter 15 Leases
Ch. 15 homework: E2,3,4,17,18,P8
______
TU 5/7 ONLINE
Continued
TH 5/9 IN-CLASS
Continued
______
TU 5/14 ONLINE
Continued
TH 5/16 IN-CLASS
Continued
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EXAM 4 (Final Exam) In-class, Tuesday, May 21, 3:00 pm-5:00 pm.