2015 Spring Semester
BMGT 310: INTERMEDIATE ACCOUNTING I
(Tentative Schedule)
Instructor:
Email:
Office:
Class Website:
Class time:
Section:
Office Hours:
Wenfeng Wang, CPA (Inactive)
wenfengwang@rhsmith.umd.edu1
VMH 3330E
http://www.elms.umd.edu
Spring 2015 (Jan 27th – May 12th): Tue and Thu: 5:00 pm-6:15pm VMH 1335
Section 0201
Tue and Thu: 3:30 pm-4:30pm2
Qualitative Course Description and Objectives:
BMGT 310 is the first course of the two-semester sequence of intermediate financial accounting. It is a direct
continuation of BMGT 220 and 221, and is a prerequisite for BMGT 311. This course focuses on problems and
issues related to the reporting and analysis of financial accounting information for decision making. The
objectives of the course include the following:
• Develop an understanding of accounting information, including the rules used to prepare and report this
information;
• Develop an appreciation of the usefulness and limitations of accounting information from a variety of
perspectives;
• Develop skills in reporting and analyzing accounting information.
The exact topics to be covered in the course are outlined in the Tentative Class Schedule below.
Course Website:
http://www.elms.umd.edu
This website is where you can download support materials – handouts and other materials such as lecture notes
will be posted there. Please monitor this site daily, particularly before classes, because I will post announcements
here (I will email to you only very important announcements). You can learn about Canvas via the following link:
www.elms.umd.edu/page/student-support
Required Text:
• Intermediate Accounting (15th Edition) by Kieso, Weygandt and Warfield.
• WileyPLUS
Beware when buying a copy of the text other than from the bookstore because you will also need an access code
to the WileyPLUS site. The student resources to accompany this site are at:
http://edugen.wileyplus.com/edugen/class/cls433454/
Class Format:
Class sessions will be structured in a lecture/problem-solving format. You are expected to participate in class
discussions, and strongly encouraged to ask questions as we proceed through the material. You are also
responsible for all materials covered in the assigned chapters (including appendices), some of which may not be
specifically covered in class. I will review the solutions to some of the assigned exercises and problems in class.
1 I will try to respond to all relevant emails sent to this email address within a 48 hour period. If you email me a question, and do not hear
back within that time, it is possibly because I did not receive your email. Please feel free to send it again.
2 If you could not attend the indicated office hours, you can always send me an email to arrange another time for a meeting. 1 You are expected to practice solving all of the assigned exercises and problems. On-line homework problems will
be assigned using an on-line homework system. These on-line homework assignments will be graded and form
part of your course grade. Working with exercises and problems is essential. Understanding the solution
presented in class for a particular problem is only the first step; you must be able to solve similar problems
yourself. Understanding a problem does not mean that you can solve a similar problem in the exam where you
have only limited time. Exercise is very essential.
Grading:
Your final course grade will be calculated as follows:
Parts
Mid-term exam
Final Exams
Homework
4 Quizzes
Participation
Points
300
400
100
100 (25*4)
100
Weights
30%
40%
10%
10%
10%
Letter Grade System
Final Letter Grade
A
B
C
D
F
Range
900-1000
800-899
700-799
600-699
Below 599
Pluses (+) and Minuses (-) will be used as required by the University Policy.
Exams:
One in-class midterm exams will be given on the dates listed below in the Tentative Class Schedule. The
comprehensive final exam will be given according to University of Maryland’s Official Examination Schedule
available at http://registrar.umd.edu/current/registration/exam%20tables%20fall.html unless I post alternative
dates to the Canvas site for this course. The final exam for this class is currently scheduled for Thursday, May 19th
04:00PM-06:00PM. Exams will be closed book and closed note. The exams will probably consist of multiple
choice questions, short answer questions and problems. Many exam questions will be similar to questions that are
available for practice. Some exam questions may be dissimilar from those you will have seen before - but will
cover similar material. Please bring a calculator to the exam. You may NOT use laptop computers or other
handheld communication devices during Midterm and Final examinations - this includes cellular telephones and
smartphones.
Make-up exams
Make-up examinations will be available only to those students who miss the regular examination for a valid
reason as defined in the Undergraduate Catalog. Only excuses with written documentation from a health
professional or a university administrator will be considered. If the instructor is not contacted within 24 hours,
the student may forfeit the opportunity to take a make-up examination. In case of an emergency causing the
university to close, the exam will be given during the next scheduled class period.
Quizzes:
2 Up to 4 quizzes will be given during the semester. Quizzes will either be given in class. Quiz questions will
consist of objective type questions. No make-ups will be given for missed quizzes.
Homework:
Homework are to be attempted for each chapter using the WileyPLUS system that I will demonstrate in class. In
addition, I may use a couple of cases or longer homework questions during the semester that students will be
responsible for preparing, possibly in groups, prior to class discussion and hand written solutions to these noncomputer graded questions may be required.
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All homework assignments can be accessed via WileyPLUs in the Assignments section of the WileyPLUS
website.
Note that for many of the questions, the numbers will be generated algorithmically, so the numbers WILL
NOT be the same as those in your text or of other classmates.
All homework MUST BE submitted electronically through WileyPLUS. No paper submissions will be
accepted.
All assignments are electronically graded for correctness.
The window to attempt a homework assignment closes at 5:00PM on the due date.
Each assignment is worth the same percentage of the overall assignment grade, unless otherwise stated.
Generally, a score from zero to 100 will be assigned by WileyPLUS for each homework assignment.
If for some reason the grading system on WileyPLUS does not work properly, I might request you to submit
hard-copy of your assignments. If I have to grade homework manually, I will use my discretion and choose to
grade a subset of the exercises and problems. The grade for the homework assignment will be based solely on
the subset of the exercises and problems graded.
On homework, I encourage you to work in groups. Of course, you must each submit your own answer.
It is your responsibility to ensure that your answers are submitted on time. Like many computer systems,
WileyPLUS crashes from time-to-time; therefore I strongly recommend that you do not leave it until the last
minute to submit your answers.
Participation:
Attendance is not equal to participation! Note that For Business School undergraduates, actively talking and
thinking about the topic will help your understanding; therefore I strongly encourage you to make the most of
your time in class. Also, your active participation in the class enables me to assess the understanding of the
material by the class as a whole. As a result, 10% of the total grade is allocated to class participation. I will
evaluate your class participation through the following perspectives:
1) Plus: Active participation in class discussion.
Your participation is valuable when it helps others in the class to learn. Examples of valuable participation
include the asking of helpful questions (e.g. those that seek clarification or give an opportunity to develop the
course material), responding to questions and other discussion.
2) Plus: Performance if cold-called
I may indicate that certain homework problems and cases should be prepared for discussion in class. I will
probably cold-call individuals to answer certain questions. Getting the answer wrong is no big deal;
demonstrating by your answer that you had not prepared for class at all is not conducive to creating a good
impression (with me or your peers). In addition, the probability that any student will be cold-called with be
greater than zero. So, be prepared!
3) Minus: Distracting activities
3 Activities that detract from the learning environment and hinder the ability of other class participants to learn
include: talking (even in a whisper); reading anything other than lecture notes etc; eating in class (drinks are
allowed); entering/exiting the room during class. (I reserve the right to lock the doors 5 minutes after start
of class.
Classroom Rules of Conduct
• Attendance in class on time is expected.
• Use of computers, cellular phones, music players and other electronic devices is strictly prohibited
during class!!!
• Students are expected to be courteous to your fellow students and to your instructor.
• Unprofessional and disrespectful conduct (which includes, but is not limited to, talking among and between
students outside of the context of the classroom discussion; answering or receiving phone calls, text
messages, or emails; coming to class late; leaving early; eating; paging through newspapers…etc.). After a
student has been provided an initial warning and then a written notice, I, the Instructor, have the discretion to
deduct a letter grade from the student’s grade for continued unprofessional conduct.
Students with Disabilities
• The University of Maryland is committed to making reasonable accommodations to individuals with
disabilities that have been documented by Disability Support Services (0126 Shoemaker Hall) in accordance
with the Americans with Disabilities Act (ADA) of 1990, Section 405 of the Rehabilitation Act of 1973 and
in accordance with other pertinent federal, state, and local disability and anti-discrimination laws. If you wish
to discuss academic accommodations for this class, please contact me, the Instructor, within the first two
weeks of the start of classes.
• Disclosure of any disability to me is entirely voluntary. However, accommodations are not retroactive and can
only be given once the student self-discloses AND I receive written notification from Disability Support
Services.
Note
that
letters
of
accommodation
must
be
updated
annually.
See
http://www.counseling.umd.edu/DSS/index.html
Academic Integrity and Ethical Standards
The University's Code of Academic Integrity is designed to ensure that the principles of academic honesty and
integrity are upheld. All students are expected to adhere to this Code. The Smith School does not tolerate
academic dishonesty. All acts of academic dishonesty will be dealt with in accordance with the provisions of this
code. Please visit the following website for more information on the University's Code of Academic Integrity:
http://www.testudo.umd.edu/soc/dishonesty.html
On each assignment/examination you will be asked to write out and sign the following pledge. “I pledge on my
honor that I have not given or received any unauthorized assistance on this exam/assignment.”
4 Tentative Class Schedule (**subject to change**)
Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Class Date Week Day 1 1/27/2015 Tue 2 1/29/2015 Thu 3 2/3/2015 Tue 4 2/5/2015 Thu 5 2/10/2015 Tue 6 2/12/2015 Thu (Quiz 1) 7 2/17/2015 Tue 8 2/19/2015 Thu 9 2/24/2015 Tue 10 2/26/2015 Thu 11 3/3/2015 Tue 12 3/5/2015 Thu (Quiz 2) 13 3/10/2015 Tue 14 No Class No Class 3/12/2015 Tue (Mid Term) 3/17/2015 15 3/24/2015 Tue 16 3/26/2015 Thu 17 3/31/2015 Tue 18 4/2/2015 Thu 19 4/7/2015 Tue 20 4/9/2015 Thu (Quiz 3) 21 4/14/2015 Tue 22 4/16/2015 Thu 23 4/21/2015 Tue 24 4/23/2015 Thu (Quiz 4) 25 4/28/2015 Tue 26 4/30/2015 Thu 27 5/5/2015 Tue 28 5/7/2015 Thu 29 5/12/2015 Tue 30 TBD Tue Topic Cha. 1 Financial Accounting and Accounting Standards Cha. 2 Conceptual Framework for Financial Reporting Cha. 3 The Accounting Information System Cha. 4 Income Statement and Related Information Cha. 5 Balance Sheet and Statement of Cash Flow Cha. 18 Revenue Recognition Cha. 6 Accounting and Time Value of Money Cha. 7 Cash and Receivable Mid Term Exam 3/19/2015 Cha. 8 Valuation of Inventories: A Cost-­‐Basis Approach Cha. 9 Inventories: Additional Valuation Issues Cha. 10 Acquisition and Disposition of Property, Plant, and Equipment Cha. 11 Depreciation, Impairments, and Depletion Cha. 12 Intangible Assets Final Exams 5