ACC 3110 A01 (3 CH) INTERMEDIATE ACCOUNTING - ASSETS Fall 2025 105 Drake, Tue/Thu 10.00am – 11.15am TERRITORY ACKNOWLEDGEMENT Located on the original lands of the Anishinaabeg, Ininewuk, Anisininewuk, Dakota Oyate and Denesuline, and on the National Homeland of the Red River Métis in the heart of Turtle Island, the University of Manitoba campuses include a vibrant Indigenous community of thousands of students, staff, faculty and alumni. We respect the Treaties that were made on these territories, we acknowledge the harms and mistakes of the past, and we dedicate ourselves to move forward in partnership with Indigenous communities in a spirit of Reconciliation and collaboration. INSTRUCTOR Name: Mingzhi Liu, Ph.D., CMA (He/Him/His) Office: 460 Drake Centre Phone: 204-474-6847 Email: Mingzhi.liu@umanitoba.ca Office hours: Tue/Thu 13:00 pm - 14:30 pm Or by appointment COURSE ELEMENTS Credit value Ethics Innovation Experiential 3 Yes Yes No Leadership Numeracy Group work Final exam Yes Yes No Yes IT skills Written skills Critical thinking Guest speakers(s) Yes Yes Yes No Global view Participation Evidence-based Yes Yes Yes REQUIRED TEXTBOOK AND/OR MATERIALS Textbook: Kieso. D., J. Weygandt, T. Warfield, N. Young, I. Wiecek, and B. McConomy, Intermediate Accounting (13th Canadian ed.), vol. 1, 2022, John Wiley & Sons Canada, Ltd. packaged with a WileyPLUS Registration Code. A printed package is available through the Campus Bookstore, but it is also possible, and acceptable, to get electronic access to the textbook through WileyPLUS. Purchase options Option 1: Hardcover version with WileyPLUS registration code and e-text $163.95 Option 2: WileyPLUS registration code and e-text $99.5 Note – WileyPLUS registration code is mandatory to complete the online assignments. Class notes and solutions: Class notes and solutions to assigned homework are available on UM Learn: • https://universityofmanitoba.desire2learn.com/d2l/login umanitoba.ca/asper #iHeartAsper • • • Sign in using your University of Manitoba UMnetID From your Fall 2025 list of courses, click on “ACC-3110-A01-A02-Intermediate AccountingAssets” Click on Content Please respect copyright laws. The textbook, related materials are the intellectual property of John Wiley & Sons Canada. Course notes, lectures and exams are the intellectual property of Professor Mingzhi Liu. Your registration as a student in this class gives you license to use these materials during this term. Photocopying and distributing textbooks or other course materials, or distributing videos or other electronic resources, is a violation of copyright laws and is unethical, unless permission to copy and/or distribute has been obtained. Reference: CPA Canada Handbook – Accounting (electronic access available through UM Libraries) COURSE LEARNING OUTCOMES The overall objective of this course is to develop your knowledge of, and your ability to use, financial accounting information. At the conclusion of this course you will be expected to: 1. be able to interpret financial statements and derive information to support decision making; 2. have an understanding of financial accounting concepts and the way concepts are applied in preparing financial statements; 3. be aware of the existence of alternative accounting treatments and the need to exercise judgment in deciding on the treatment appropriate in a specific situation; and 4. be able to prepare financial statements, including balance sheet, income statement, statement of retained earnings and cash flow statement. ASPER EQUITY, DIVERSITY & INCLUSION (EDI) At the Asper School of Business, we believe that an exceptional learning environment is sustained by diverse perspectives, equitable opportunities, and inclusive spaces. We are committed to challenging biases and confronting discrimination; nurturing openness, empathy, and active participation in our collaborations; and creating inclusive communities that foster belonging for all students, staff and faculty. Above all, we strive to embed principles of equity, diversity, and inclusion in all elements of business education, in our classrooms and beyond. Report your EDI concerns here. REQUESTING RELIEF FOR MISSED ACADEMIC WORK/ EXAM AND LATE SUBMISSION POLICY The self-declaration is in place of a sick note/supporting documentation, as per the Self-Declaration for Brief and Temporary Student Absences Policy. No additional documentation is required. Self-declaration form The Asper School has an approved list of events for which students are eligible for accommodation if they miss a term exam/test. Students who cannot take the midterm examination for legitimate reasons should umanitoba.ca/asper #iHeartAsper inform instructor within 5 working days of the missed midterm examination. No makeup exam will be given. The weight of your midterm examination will be added to the final examination (Your final exam grade will account for 80% of your total grade). Do not make travel plans before the Final Exam. I cannot let you take the exam earlier/later just because you made bookings for an earlier date. In the event you have to miss the Final Exam for a valid reason, a request for a deferred exam must be made at your home Faculty’s Undergraduate Program Office (b_comm@umanitoba.ca, if you are an Asper student). Applying for a deferred exam does not guarantee your request will be granted. ATTENDANCE POLICY Attending the class is valuable to everyone and thus it is highly recommended. To maximize the benefit of attending the class, students are expected to complete the chapter readings before each class, especially for concepts and methods covered in the class notes. No additional resources will be provided to students who miss a class. ACADEMIC ACCOMMONDATION Student Accessibility Services (SAS) provides supports for students with disabilities and to foster success for your academic future. If you need help and support as a student, please reach out to the SAS office. Students with disabilities may have academic accommodations that include extensions on course work and test deferrals. These accommodations are separate from the self-declaration for brief and temporary absence policy. A student or faculty member can contact an Accessibility Coordinator to discuss academic accommodations related to disability. COMMUNICATION AND FEEDBACK Students who wish to correspond with instructors or TAs directly via email must send messages that originate from their official University email account. This protects the confidentiality and sensitivity of information as well as confirms the identity of the student. Emails regarding course feedback should be sent to the instructor. COURSE FORMAT AND HEALTH & SAFETY PROTOCOLS This course will be taught in-person, unless there’s a directive from the university that requires us to move to remote delivery. We will observe the health-related safety protocol mandated by the university. Stay home when sick In line with our commitment to maintaining a healthy and safe campus environment, we kindly remind everyone to stay home when feeling unwell. We urge you to consider the well-being of others and be respectful of their choices when assessing your own health and ability to attend campus. UM continues to be a mask friendly space. What to do if you become ill while at UM: umanitoba.ca/asper #iHeartAsper 1. If you have a mask, please wear it and leave the classroom, lab, or workspace immediately. 2. Perform hand hygiene (soap and water or hand sanitizer) and avoid contact with others and minimize contact with the physical environment. 3. Inform your instructor(s) or, if in residence, the appropriate individual. 4. Please remain off-campus and all UM facilities until cleared to return in accordance with selfassessment, testing results, and UM recommended isolation procedures. You can find the self declaration form here if you find yourself sick and need to miss class/exam/assignments. AI TOOLS AI tools can be used to enhance learning and problem-solving skills, but they should not replace independent thinking and learning. Students must exercise critical thinking when using AI tools and acknowledge their use in academic work. Prohibited uses include generating or completing academic work with AI tools without appropriate acknowledgement. Academic honesty is paramount, and students should accurately represent their individual effort and knowledge. Faculty will provide guidance on AI tool usage and incorporate discussions on AI ethics and academic integrity. Violations may lead to disciplinary actions, including academic penalties or suspension. TECHNICAL REQUIREMENTS In the event health mandates or the instructor falling sick for an extended period require switching to remote delivery of classes, you will need a device enabled with a camera and microphone. Further, you will have to be in a location with a stable Internet connection that is strong enough for streaming video. ASSESSMENT OF LEARNING The grading in this course will be based on three components: WileyPLUS Assignments Midterm Exam Final Exam See assignment schedule below for details October 28 (Tuesday) 6PM – 8PM To be scheduled by the Registrar’s Office 20% 35% 45% 100% The tentative letter-grading scheme is as follows. Of all the students who get 50% or over in the course: the top 5% of the class will get an A+ next 15% will get an A next 20% will get a B+ next 20% will get a B next 20% will get a C+ next 15% will get a C next 5% will get a D Getting less than 50% in the course will result in an F grade. The letter grades are based on where your course total marks are on the above curve, regardless of the absolute number. For example, it is possible for you to get 90% in the course and not get an A+ if you were not in the top 5% of the class. Likewise, you may get 75% and still get an A if you are in the top 20% of the class. So, it can work both ways. The umanitoba.ca/asper #iHeartAsper percentages listed will be adjusted to fit into the expected GPA for the course as prescribed by the Department Head. The Department head approves all grade distributions prior to posting to Aurora. Exams: • • • The exams will be in person and closed book, you will be allowed to have one page 2-sided cheat sheet (8.5x11 inches). The midterm exam will test all material covered in Chapters 2-7 and Appendix C. The final exam will test all material covered throughout the entire course. Detailed exam information will be posted before the exams on UM Learn. Wiley PLUS Assignments: Wiley PLUS is internet-based educational software which I am using to create assignments for ACC 3110. Wiley PLUS registration code in a sealed envelope is included with new textbooks sold in the bookstore, or you can purchase Wiley PLUS registration code online. Please follow “WileyPLUS Registration Guide” posted on UM Learn under Course Information folder to register for WileyPLUS, and your name used for the Wiley Plus registration should be consistent with your name on your student ID. Registration site is www.wileyplus.com/go/login and course section ID is B00921 for ACC 3110. Please contact, Hannah Edson (hedson@wiley.com), directly for any technical issues while using WileyPLUS. Five assignments will be due as shown below: Assignment Weight 1 2.5% Chapters Chapter 2 (Q1-Q2) Due by 11:59PM (CST) on September 21, Sunday Chapter 3 (Q3-Q4) 2 2.5% Appendix C (Q1) October 5, Sunday Chapter 4 (Q2-Q3) Chapter 5 (Q4) 3 5% Chapter 6 (Q1-Q4) October 26, Sunday Chapter 7(Q5-Q7) 4 5% Chapter 8 (Q1-Q3) November 16, Sunday Chapter 9 (Q4-Q8) 5 5% Chapter 10 (Q1-Q5) December 7, Sunday Chapter 11 (Q6-Q8) • • • The weight of each assignment varies and a maximum of 20% are available. Unlimited attempts for marks are allowed until the due date, and the best attempt (not the last attempt) will be recorded for grading. Students who miss assignment for legitimate reasons (e.g., medical) should inform instructor within 5 working days of the missed assignment due date to have the weight of the assignment added to the final exam. Keep in mind that Wiley PLUS is an internet-based program. Problems with the Wiley PLUS website, your internet server or your computer are all possible, and will not be considered valid umanitoba.ca/asper #iHeartAsper • reasons for missing a deadline. I recommend that you do the assignments as early as possible to make sure that you can finish by the due date. Late assignments will not be accepted. It is the student responsibility to check the assignment grade after each submission. Any problem with the online assignment will not be considered after December 7. ELECTRONIC DEVICE POLICY Switch your phone to silent mode before class begins. You may use a laptop or tablet for note-taking. Practice self-control—don’t browse the Internet or check your e-mail/social media messages in class. You are not allowed to video/audio record class lectures or take screenshots or pictures of the screen without the instructor’s permission. OUT OF CLASS COMMUNICATION PowerPoint files, in class problem solving, other class-related files, and intermediate grades will be posted on UM Learn. Any announcements outside of class will be sent by e-mail from UM Learn. It is your responsibility to check your UofM e-mail account frequently so that you don’t miss these communications from me. E-mail can be a useful way of dealing with smaller issues. I respond to all e-mails during normal working hours and answer questions where practical. If the question is too complicated (e. g., Can you explain revenue recognition 5-step process to me?), I will ask you to come to my office in-person during office hour. Use your university e-mail account to communicate with me. Tell me who you are. Please give your full name, your class section and course code when you write to me. In the interest of fairness to the other students, please do not ask for information or resources (e. g., exam study tips, extra sample exam questions) that are not available to all students. IMPORTANT DATES September 3 September 16 September 17 October 28 November 10-14 November 18 December 8 December 9-19 First day of Winter term courses Last date to DROP Winter term courses without with tuition refunds Last date to ADD Winter term courses Midterm exam Winter Term Break Voluntary Withdrawal deadline for Winter term courses Last day of Winter term courses Winter term final exam period Dates and deadlines set by the University Administration can be found at the below link: https://umanitoba.ca/registrar/important-dates-deadlines umanitoba.ca/asper #iHeartAsper THE CPA CANADA HANDBOOK The CPA Canada Handbook – Accounting is made up of four parts. In this course, we will only be studying Part I (International Financial Reporting Standards, or IFRS) and Part II (Accounting Standards for Private Enterprise, or ASPE). The Kieso textbook is a more effective and accessible way to learn about the material in this course than is the Handbook, but the Handbook will be much more important as a reference later on, particularly for those who plan to pursue Accounting or Auditing as a career. If you are considering a career in Accounting, it will be worth your while to start familiarizing yourself with the Handbook now. The CPA Canada Handbook – Accounting is available in electronic format on the University of Manitoba Libraries website. To access the Handbook: 1. From the University of Manitoba homepage (www.umanitoba.ca), click on Academics, scroll down to Essential resources, and click on Libraries. 2. Click on Databases A-Z, and then click on C. Scroll down to and click on CPA Canada Standards and Guidance Collection. 3. If you are accessing the Handbook from off campus, you will have to log in using your UMNetID and password (these should be the same credentials that you use to log into UM Learn). 4. On the knotia.ca page, click on Accounting on the left-hand side of the screen to browse the Accounting Standards collection. If you are looking for a specific section (e.g., IAS 16, which is the IFRS section that deals with Property, Plant and Equipment), enter it (ias 16) in the Fetch dialogue box and click on the arrow. umanitoba.ca/asper #iHeartAsper CLASS SCHEDULE You will find that the course progresses quickly, and the material covered builds on earlier material. It is important to stay current in your study, otherwise you will likely have difficulty understanding the new material as it is presented. If you read the text in advance of the relevant classes, you will have a much better chance of understanding the material as it is taught. Changes are possible and will be announced in class and posted on UM Learn. BE means Brief Exercises, E means Exercises and P means Problems. C in front of E and P means Appendix C, which is only available through eBook. Day Date Assigned Chapters 1 Sept. 4 Chapter 2 Conceptual Framework BE2.1; 2.10, 2.16; E2.1, 2.3, 2.7, 2.8. 2 Sept. 9 Chapter 3 Measurement (Ignore LO1&LO3) BE3.17-3.19, 3.24-3.26, 3.28-3.30. 3 4 Sept. 11 Sept. 16 Appendix C The Accounting Information System EC.4-EC.7; PC.5, PC.7, PC.9a. Sept. 21 Assignment #1 Due at 11:59PM (CST) Sept. 18 Sept. 23 Chapter 4 Reporting Financial Performance Chapter 5 Financial Position and Cash Flows Oct. 5 Assignment #2 Due at 11:59PM (CST) 7 8 9 10 Sept. 25 Oct. 2 Oct. 7 Oct. 9 Chapter 6 Revenue Recognition Appendix 6A Long-term Contracts BE6.8, 6.11, 6.14-6.16, 6.19, 6.22, 6.28, 6.31; E6.4-6.8, 6.10, 6.12, 6.25, 6.30, 6.37, 6.38, 6.40. 11 12 Oct. 14 Oct. 16 Chapter 7 Cash and Receivables Appendix 7A only Bank Reconciliation BE7.3, 7.11; E7.6, 7.9a, 7.11, 7.14, 7.16, 7.17b, 7.18a, 7.23; P7.10cd, 7.13b, 7.15. 13 14 Oct. 21 Oct. 23 Chapter 8 Inventory BE8.8, 8.11, 8.15, 8.24, 8.28; E8.7, 8.11, 8.14, 8.19, 8.21, 8.23. Oct. 26 Assignment #3 Due at 11:59PM (CST) 15 Oct. 28 No class; Midterm Exam 6:00PM-8:00PM (CST) 16 17 18 Oct. 30 Nov. 4 Nov. 6 Chapter 9 Investments Nov. 16 Assignment #4 Due at 11:59PM (CST) 5 6 umanitoba.ca/asper Assigned Homework BE4.16-4.17, 4.19, 4.21; E4.13, 4.17. E5.11b, 5.14a, E5.16a, E5.17b. BE9.3, 9.6, 9.9, 9.10, 9.14, 9.15, 9.24, 9.25; E9.3, 9.5, 9.8, 9.10, 9.13, 9.19, 9.21; P9.2, 9.8, 9.9. #iHeartAsper 19 20 21 22 Nov. 18 Nov. 20 Nov. 25 Nov. 27 Chapter 10 Property, Plant, and Equipment: Accounting Model Basics Appendix 10A Capitalization of Borrowing Costs Appendix 10B Revaluation: The Proportionate Method Chapter 11 Depreciation, Impairment, and Disposition 23 Dec. 2 Chapter 12 Intangible Assets and Goodwill 24 Dec. 4 Review Dec. 7 Assignment #5 Due at 11:59PM (CST) umanitoba.ca/asper BE10.5ab, 10.6, 10.12, 10.13, 10.20-10.21, 10.25-10.27; E10.4a, 10.5a, 10.16, 10.17, 10.19, 10.25, 10.28, 10.31; BE11.10, 11.13, 11.14, 11.18; E11.5, 11.14, 11.18, 11.21, 11.23, 11.25, 11.26. BE12.2, 12.4, 12.9, 12.13, 12.14; E12.11, 12.14-12.17, 12.20. #iHeartAsper ACADEMIC HONESTY Academic integrity is critical to the reputation of the Asper School of Business and for the degrees we award. As the Faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Therefore, the Asper School takes academic misconduct very seriously and does what it takes to uphold the highest academic integrity standards. You can find information on what constitutes academic misconduct on the University of Manitoba’s Academic Integrity webpage. It is your responsibility to educate yourself on what’s acceptable and what’s not. Ignorance is no excuse. When in doubt, talk to your instructor. Examples of academic misconduct include, but are not limited to: ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ using the exact words from a published or unpublished source without quotation marks and without referencing that source both in-text and in the Bibliography reproducing a table, graph, or diagram, in whole or in part, without referencing the source paraphrasing someone else’s words without referencing the source both in-text and in the Bibliography using a paper (or parts of it) that was submitted in one course for an assignment in another course, without discussion with both the instructors involved getting your assignment done by someone else, either for payment or otherwise using material available on file-sharing sites such as Course Hero, Chegg, etc. Uploading material to such sites also constitutes academic misconduct depending on what is shared. copying the answers of another student in any exam or assignment providing exam answers or assignments to other students via any medium or obtaining them from other students or websites taking any unauthorized materials into an examination (crib notes), regardless of whether those are used during the exam recording exam questions using any method, regardless of whether those are shared with others sharing exam questions with those who are yet to take the exam, including future students or attempting to sell exam questions impersonating another student or getting another person to impersonate you for the purpose of attendance, earning class participation marks, submitting academic work, or writing an exam changing any part of test answers after that test has been graded and returned Group Projects and Group Work Many courses in the Asper School require group projects. All group members should exercise special care to ensure that the group project is free from plagiarism. Should a violation occur, group members are jointly accountable unless the violation can be attributed to specific individuals. Some courses, while not requiring group projects, encourage students to work together in groups before submitting individual assignments. If it’s unclear whether it is allowed, students are encouraged to seek clarification from the instructor to avoid violating the academic integrity policy. In the Asper School of Business, all suspected cases of academic misconduct in undergraduate courses are reported to the Dean's office and follow the approved disciplinary process. See following table for typical penalties for academic misconduct in the Asper School. umanitoba.ca/asper #iHeartAsper TYPICAL PENALITES FOR ACADEMIC MISCONDUCT IN THE ASPER SCHOOL If the student is from another Faculty and the academic misconduct is committed in an Asper course, the student’s Faculty could match or add penalties beyond the Asper School’s. F-DISC on transcript indicates the F is for disciplinary reasons. ACADEMIC MISCONDUCT Cheating on exam (copying from or providing answers to another student) Sharing exam questions electronically during exam Possession of unauthorized material during exam (e.g., cheat notes) Altering answer on returned exam and asking for re-grading Plagiarism on assignment Submitting paper bought online Inappropriate Collaboration (collaborating with individuals not explicitly authorized by instructor) Group member had knowledge of inappropriate collaboration or plagiarism and played along Signing Attendance Sheet for classmate Attempting to sell exam umanitoba.ca/asper PENALTY F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 1 year Notation of academic misconduct in transcript F-DISC in course Notation of academic misconduct in transcript F-DISC in course Notation of academic misconduct in transcript F-DISC in course Suspension from taking Asper courses for 18 months Notation of academic misconduct in transcript #iHeartAsper SPIRITUAL CARE AND MULTI-FAITH CENTRE Academic accommodation for religious, Indigenous or spiritual observances multi-faith calendar. The Spiritual Care and Multi-Faith Centre (SCMC) supports students as they navigate through the highs and lows of academic life, helping to piece together and make sense of the troubling, confusing, and exciting parts that make up their lives. Spiritual health services are available to all, whether you identify as spiritual, atheist, religious or agnostic. We recognize, affirm and work with your existing values and beliefs. STUDENT SERVICES AND SUPPORTS The University of Manitoba provides many different services that can enhance learning and provide support for a variety of academic and personal concerns. You are encouraged to visit the below websites to learn more about these services and supports. If at any time you feel that your personal safety is in jeopardy, you can contact Security Services for a variety of supports. Empower Me (free for U of M students) 1-844-741-6389 Klinic Crisis Line (24hrs) 204-786-8686 or 1-888-322-3019 Emergency Contact o 555 from any university phone or #555 from MTS or Rogers Wireless o 204-474-9341 from all other phones o Any emergency phone on campus Non-Emergency Contact o Safewalk/Fort Garry Campus: 204-474-9312 Winnipeg Police Services Contact this service if you feel concern for your safety, or if you would like to make a report of criminal behavior. o Winnipeg Police (emergency line) 911 o Winnipeg Police (non-emergency line) 204-986-6222 umanitoba.ca/asper #iHeartAsper More Resources Concern Reporting discriminatory behavior by another university member Tech-related issues with UM Learn or videoconferencing Admission, Registration, Tuition Fees, Important Dates, Final Exams, Graduation, and Transcripts Academic policies & procedures, regulations, Faculty-specific information, degree and major requirements Help with research needs such as books, journals, sources of data, how to cite, and writing Tutors, workshops, and resources to help you improve your learning, writing, time management, and test-taking skills Support and advocacy for students with disabilities to help them in their academic work and progress Copyright-related questions and resources to help you avoid plagiarism or intellectual property violations Student discipline bylaws, policies and procedures on academic integrity and misconduct, appeal procedures Policies & procedures with respect to student discipline or misconduct, including academic integrity violations Students’ rights & responsibilities, policies & procedures, and support services for academic or discipline concerns Your rights and responsibilities as a student, in both academic and non-academic contexts Medical services for any physical or mental health issues Information on health topics, including physical/mental health, alcohol/substance use harms, and sexual assault Mental health, including anxiety, stress, depression, help with relationships or other life concerns, crisis services, and counselling Support services available for help regarding any aspect of student and campus life, especially safety issues Resources available on campus, for environmental, mental, physical, socio-cultural, and spiritual well-being Help with any concerns of harassment, discrimination, or sexual assault Concerns involving violence or threats, protocols for reporting, and how the university addresses them umanitoba.ca/asper Link Speak Up Information Services & Technology Registrar’s Office Academic Calendar Library Resources Writing and Learning Support Student Accessibility Services Copyright Office Academic Integrity Student Discipline Student Advocacy Your rights and responsibilities University Health Service Health and Wellness Student Counselling Centre Student Support Case Management Live Well @ UofM Respectful Work and Learning Environment Violent or Threatening Behaviour #iHeartAsper UM Student Supports Sexual Violence Resource Centre Student Accessibility Services Spiritual Care and Multi-Faith Centre umanitoba.ca/asper Student Advocacy and Case Management Health and Wellness Centre University Health Services #iHeartAsper
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