ST. GREGORY’S
UNIVERSITY
COURSE SYLLABUS for Fall
2001
Course |
BU 3504, Intermediate
Accounting |
Time/Location |
Directed study with weekly
meetings |
Prerequisite
|
BU 2113, Financial Accounting
and BU 2123, Managerial Accounting with a grade of C or
better |
Instructor |
Mayda
Shorney, Ph.D., CPA |
|
Office /
Hours |
Room 442a, MWF 1000-1100 &
1300-1400, TR 0900-1000 & 1400-1500 |
|
Phone |
Office 405-878-5159, Home
405-214-6449 |
|
E-Mail |
|
|
Web
site |
COURSE DESCRIPTION FROM OFFICIAL
CATALOG
An advanced course studying the
analysis, presentation, and interpretation of operations and financial position
with emphasis on accounting theory, critical evaluation of accounting concepts,
and controversial issues in accounting.
The course is to enable you to understand the
accounting theory of the conceptual framework and how it is used to define the
elements of accounting.
·
Describe the function and primary
focus of financial accounting.
·
Define
generally accepted accounting principles and discuss the historical development
of accounting standards and explain why establishing accounting standards is
characterized as a political process.
·
Explain the purpose of the FASB’s
conceptual framework.
·
Identify the objectives of financial
reporting, the qualitative characteristics of accounting information, and the
elements of financial statements.
·
Analyze routine economic events and
record their effects on a company’s financial position.
·
Explain the importance of income
from continuing operations and describe its components.
·
Explain the reason for applying
intraperiod tax allocation to certain income statement
components.
·
Describe the purpose of the
statement of cash flows.
·
List
the two criteria that must be satisfied before revenue can be recognized and
explain why these criteria usually are satisfied at the point of product
delivery.
·
Describe the purpose of the balance
sheet and understand its usefulness
and limitations.
·
Explain the purpose of financial
statement disclosures.
·
Define
what is meant by internal control and describe some key elements of an internal
control system.
·
Explain which physical quantities of
goods should be included in inventory and determine the expenditures that should
be included in the cost of inventory.
·
Discuss the factors affecting a
company’s choice of inventory method.
·
Identify the various costs included
in operational assets, natural resources, and intangible
assets.
·
Explain the concept of cost
allocation as it pertains to operational assets and determine periodic
depreciation using both time-based and activity-based
methods.
·
Explain how to account for the
disposition of operational assets.
·
Explain how to identify investments
and understand the way investments are recorded and
reported.
·
Define
liabilities and distinguish between current and long-term
liabilities.
·
Identify the characteristics of debt
instruments and describe the basic approach to accounting for debt.
·
Describe the types of temporary
differences that cause deferred tax liabilities and determine the amounts needed
to record periodic income taxes.
·
Describe the nature of
postretirement benefit plans and identify the similarities and differences in
accounting for plans and pensions.
·
Describe the components of
shareholder’s equity and explain how they are reported and differentiate the
effect on EPS of the sale of new shares, a stock dividend or stock split, and
the reacquisition of shares.
·
Differentiate among the types of
accounting changes and distinguish among the retroactive, current, and
prospective approaches to accounting for and reporting accounting
changes.
ACADEMIC
HONESTY
Students are advised that cheating
and plagiarism are not tolerated at St. Gregory’s University. Students are expected to abide by the
University's academic regulations and policy and are responsible for awareness
of the University's definition of these activities. The consequences of
violating the academic honesty standard may include a grade of "0" on the
assignment/exam, a grade of "F" in the course, and, possibly, expulsion from the
University.
The goal of the Division of Business
Science at St. Gregory's University is to convey the business skills necessary
to survive in the 21st Century while encouraging personal integrity,
charity, and growth.
REQUIRED
TEXT TO BE PURCHASED BY STUDENT
CURRENT EVENTS, PRACTICAL
APPLICATIONS, AND THE INTERNET
During the course of the semester,
we will use current events to analyze concepts. We will use the Internet to aid our
research.
INTERNET
RESOURCES
|
|
Textbook’s Web
Site |
| ||
|
University of Northern Iowa -- Directory
of Accounting Sites | ||||
METHODS OF ASSESSMENT AND STUDENT
EVALUATION
|
Exam
1 |
Chapters 1 -
5 |
20% |
|
Exam
2 |
Chapters 6 -
9 |
20% |
|
Exam
3 |
Chapters
10-15 |
20% |
|
Exam
4 |
Chapters 16-17,
19-22 |
20% |
|
Homework/Quizzes/Discussion |
Weekly |
20% |
|
Total |
|
100% |
·
If any
exam question is left unattempted, the value of that question will be subtracted
from the exam score.
·
Exams
will be closed book.
·
Calculators are permitted. Practice
exams/problems and solutions are available at the Text Website.
·
Being
prepared and present for the exams and presentations is your
responsibility. The exam and presentation will be given on schedule. Mark
your calendars now.
·
If the
exam is missed, your total points possible will be adjusted
accordingly.
COURSE OUTLINE
The schedule is flexible.
Much material is required. It is not possible for an instructor to cover all the
course material without student independent study. As students are interested in
a particular topic, more time will be spent on a topic as may be required. No homework is accepted after the test
over the material.
Ch |
Topic |
Homework | |
|
1 |
Environment and
Structure |
E1-9; C1-11,
12 | |
|
2 |
Accounting Process |
E2-8; P2-3, 9 | |
|
3 |
Income Statement and Statement
of Cash Flows |
E3-6, 7; P3-1, 2; C3-2, 5,
8 | |
|
4 |
Income Measurement and
Profitability Analysis |
E4-2, 3, 6;P4-4; C4-2,
3 | |
|
5 |
Balance Sheet and Financial
Disclosures |
P5-4; C5-4, 5, 12 | |
|
|
Exam 01, Chapters 1 –
5 |
| |
|
7 |
Cash and Receivables |
E7-15; P7-3, 4; C7-8,
11 | |
|
|
(You are responsible for the
material in Chapter 6, The Time Value of
Money.) |
| |
|
8 |
Inventories –
Measurement |
E8-9, 11, 17; P8-3, 7, 10;
C8-12 | |
|
9 |
Inventories - Additional
Issues |
E9-3, 10, 16, 21; P9-10; C9-7,
8 | |
|
10 |
Operational Assets –
Acquisition |
E10-18, 19, 23;
P10-4 | |
|
11 |
Operational Assets -
Utilization and Disposition |
E11-3, 13, 16;
P11-9 | |
|
12 |
Investments |
E12-5, 8, 11, 13, 15;
P12-7 | |
|
|
Exam
02, Chapters 7 - 12 |
| |
|
13 |
Current Liabilities and
Contingencies |
E13-4, 5, 9, 12, 14;
P13-8 | |
|
14 |
Bonds and Long-Term
Notes |
E14-2, 3, 4, 5, 10, 13, 14,
19, 20; P14-3, 19 | |
|
15 |
Leases |
E15-2, 4, 5, 6, 8, 10, 18,
25 | |
|
16 |
Accounting for Income Taxes
|
E16-3, 4, 5, 6, 8, 9, 10, 22;
P16-9, 8 | |
|
17 |
Pensions
|
E17-1, 2, 3, 8, 9, 12, 13, 14,
15 | |
|
|
Exam
03, Chapters 13 - 17 |
| |
|
19 |
Shareholders' Equity
|
E19-2, 3, 4, 5, 6, 7, 12, 13;
P19-2, 9, 12 | |
|
20 |
Earnings Per Share
|
E20-1, 2, 3, 4, 6, 7, 10, 12,
13, 19 | |
|
21 |
Accounting Changes and Error
Corrections |
E21-1, 3, 5, 12, 13, 17, 18,
19, 26 | |
|
22 |
The Statement of Cash Flows
Revisited |
E22-1, 3, 5, 7, 9, 11, 13,
15 | |
|
|
Exam 4, Chapters 19
- 22 |
| |