East West University
Department of Business Administration
BBA Program
Course Catalog Series
Semester
Course Code
Course Title
Class Timing
Instructor
Office
Email
Office Hours
: Spring 2014
: ACT 411, Section: 1
: Intermediate Accounting I
: MW 3:10 pm -4:40 pm [M – Monday, W - Wednesday], Venue: 404
: Nikhil Chandra Shil, MBA, ACMA
: 340
: [email protected]
:
Day
Time
Sunday
12:00 pm – 6:30 pm
Monday
9:30 am – 1:30 pm
Tuesday
9:30 am – 10:00 am
Wednesday
9:30 am – 1:30 pm
Thursday
By appointment
Course Objectives:
The course aims to provide the students with an in depth understanding of financial
reporting analysis. This course will help the students to appraise theoretical and
regulatory national frameworks as well as to prepare reports and financial statements of
the companies. This course intends to provide a strong foundation for advanced courses
in financial accounting with ability to apply these for the preparation of financial and
related information to meet internal and external obligation. Upon completion of this
course, the successful student will be expected to have developed the following
competencies:
1. Assess and understand the Accounting Conceptual Framework and underlying
principles of accounting applications and procedures.
2. Analyze the effects of transactions and events on an entity’s financial condition
and demonstrate an understanding of Generally Accepted Accounting Principles
(GAAP).
3. Employ professional judgment applying GAAP technical concepts to prepare and
present financial statements and related disclosures.
Course Materials
Text Book
: Intermediate Accounting, Donald E. Kieso, Jerry J. Weygandt, & Terry D.
Warfield, 12th Edition, 2013-14, John Wiley & Sons Inc. Web Ref http://www.wiley.com/college/kieso
Reference Books:
1. Intermediate Accounting, Spiceland, Sepe, Nelson, 6th edition; 2011
McGraw-Hill Higher Education.
2. Intermediate Accounting, Volume 2, Beechy, Conrod, Farrell, 5th
Canadian Edition, McGraw-Hill, Toronto 2011
Page 1 of 4
3. Intermediate Accounting, Stice, James; Stice, Earl K.; & Skousen, Fred,
15th Edition, South-Western College Publication.
4. International Accounting Standards-IASB, UK
5. Bangladesh Accounting Standards-ICAB
Policy for missed classes, quizzes and midterm examination:
Students are requested to attend all the classes and to read assigned textual materials
prior to attending the classes. A student missing a significant number of classes without
any valid reasons may be dropped from the course. No makeup would be allowed for
missed quizzes. Make up of midterm examinations will only be allowed if it is permitted
by the Chairperson of the Department. But, the student should sit for the make-up exam
within one week of the respective exam date.
Code of Conduct for the Students:
1. Students are expected to enter into the classroom within stipulated time.
2. Students must bring the required textbook, calculator and other logistics in the
class.
3. Students should maintain the standard class environment. In this regard,
activities like side talks, use of cellular phones, frequent in and out from the
classroom are strictly prohibited.
4. Students found in any kind of unfair means in the exams will automatically be
dropped from the course.
5. Students must abide by all the rules & Regulations of the institution to be
allowed to be present in the class / exam halls.
Evaluation: Students will be evaluated as per the university guidelines. A tentative
marks breakdown is given in the table below. There will be minimum 3 class tests, may
be announced or unannounced. Best 2 will be averaged to calculate the marks for class
tests. Assignments will be announced by the faculty in due time, may be group or
individual. Regularity and active participation in the class is highly expected and
solicited.
A+
A
AB+
B
BC+
C
CD+
D
F
GRADING POLICY
97 & above
90- below 97
87- below 90
83- below 87
80- below 83
77-below 80
73-below77
70-below 73
67-below 70
63-below 67
60-below63
Below 60
MARKS DISTRIBUTION
Midterm examination 1
Midterm examination 2
Final examination
Class quizzes
Attendance and Participation
Home assignments
Total
20%
25%
30%
15%
05%
05%
100%
Note: Respective weightage of marks may
be modified by the instructor to make the
assessment
more
competitive
and
participative.
Grading Policy
University grading policy is applicable as shown in the table above.
Page 2 of 4
L E C T U R E
P L A N
Lecture
Details
1 & 2 Accounting Standards and Financial Reporting
Financial statements and financial reporting; Parties
involved in standard setting: SEC, AICPA, FASB, GASB;
Generally accepted accounting principles (GAAP); The
expectation gap, International accounting standards,
Ethics.
Reference
Chapter: 1
Text: pp. 1-17
3
Concepts Underlying Financial Accounting
Conceptual framework: first level, second level and third
level; Objectives; Qualitative characteristics, Elements;
Assumptions; Principles; Constraints
Chapter-2
Text: pp. 28-46
4&5
Understanding the Accounting Information System
Accounting information system; Debits & credits; Basic
Equation; Accounting Cycle; Preparation of Financial
Statements: income statement, retained earnings
statement, balance sheet
Chapter-3
Text: pp. 61-93
6&7
Examining the Income Statement
Income statement; Format of income statement: single
step, multiple-step; Reporting irregular items:
discontinued operation, extraordinary items, changes in
accounting principles, changes in estimates, correction
of errors
Chapter – 4
Text: pp. 125 -149
8
9 & 10
Mid Term Examination- 1
Examining the Balance Sheet and Statement of Cash
Flows
Balance sheet: usefulness, limitations, classification;
Additional information reported; Techniques of
disclosure; Statement of cash flows: purpose, content
and format, preparation, usefulness
Chapter-5
Text: pp. 169-198
11 &12 Present Value Concepts and Measurement
Basic time value concepts; Single sum problems: present
value, future value; Annuities: present value and future
value; More complex situations; Present value
measurement.
Chapter-6
Text: pp. 251-281
13 &14 Understanding Cash And Receivables
Cash; Management and control of cash; Reporting cash;
Receivables; Recognition of receivables; Valuation of
Chapter-7
Text: pp 313-339
Page 3 of 4
accounts receivables; Recognition of notes receivables;
Valuation of notes receivables; Disposition of accounts
and notes receivables
15
Accounting and Reporting for Inventory: Basics
Inventory classification and control; Basic issues in
inventory valuation; Physical goods included in
inventory; Costs included in inventory; Which cost flow
assumption to adopt: specific identification, average
cost, FIFO, LIFO.
16
Mid Term Examination- 2
17 &18 Inventories: Valuation and Estimation Concepts
Lower of cost or market: ceiling and floor; Valuation
basics; Gross profit method of estimating inventory;
Retail inventory method; Presentation and analysis.
IAS-2: Inventories
Chapter-8
Text: pp 368-397
Chapter-9
Text: pp. 422-444
19 &20 Property, Plant and Equipment: Acquisition and
Disposition
Acquisition and Valuation of Property, Plant and
Equipment; Valuation; Cost subsequent to acquisition;
Dispositions of plant assets
IAS-16:Property, Plant and Equipment
Chapter: 10
Text: pp 471-496
21 &22 Property, Plant and Equipment: Cost Allocation and
Impairment
Depreciation, Methods of depreciation, Impairments,
Depletion, presentation and analysis
IAS-36: Impairment of Assets
Chapter-11
Text: pp 521-545
23
Concepts and Reporting Issues of Intangible Assets
Characteristics, Valuation & Amortization of Intangible
Assets; Types of Intangible Assets - Marketing related,
Customer related, Artistic related, Contract related,
Technology related and Goodwill; Impairment of
intangible assets, Research and Development cost,
Presentation of Intangible Assets.
IAS 38: Intangible Assets
24
Final Examination
Chapter: 12
Text: pp. 571-594
Page 4 of 4
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Course Outline - East West University