KIMEP UNIVERSITY
Bang College of Business
Summer I 2013
Course Syllabus for: ACC3201 INTERMEDIATE ACCOUNTING I
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1. Basic Information
Course Code and Title: ACC3201 INTERMEDIATE ACCOUNTING I
Course Meeting Time and Place:
 Hall #125, Valikhanov Building, 11:30 – 12:40, Tuesday and Thursday
Course Credit: Three (3) credits
Instructor Information: Serzhan Nurgozhin, MA, DipIFRS
Office: Room #322 Dostyk (Administrative) Building
Phone: 270 44 40 Ext. 2110;
E-mail: serzhan@kimep.kz
Prerequisite: ACC2101 Intermediate Financial Accounting
2. Instructor Availability
Office Hours: Tuesday, Thursday, 13:30 – 14:30or by appointment
Location: Office #322 Dostyk (Administrative) Building
3. Instructional Resources
Required Textbook
Intermediate Accounting by J.D. Spiceland, J.F. Sepe, M.W. Nelson; McGraw-Hill, sixth edition, 2011.
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4. Course Description/Overview
This course begins in-depth analysis of accounting issues introduced in Financial Accounting. It
addresses some of the following topics: the accounting process, financial accounting and reporting,
the income statement and the statement of retained earnings, the balance sheet and the statement of
cash flows, revenue recognition and income determination, cash and receivables, inventory valuation
and departures from historical cost and estimating inventory cost.
5. Learning objectives
At the end of the course, students should be able to do the following:
 To further develop understanding of accounting and its role in the business environment.
 To have a deeper and more detailed consideration of the accounting valuation techniques and
reporting practices existing in the current business environment.
 To have deeper understanding of conceptual framework for financial reporting and provides a
variety of practical solutions for presenting and interpreting accounting data.
 Describe the function and primary focus of financial accounting.
 Explain the purpose of the FASB’s conceptual framework and discuss the historical development
of accounting standards.
 Describe the purpose of the income statement and understand its usefulness and limitations.
 Demonstrate ability to prepare income statement in accordance with the GAAP requirements.
 Explain the difference between net income and comprehensive income and how we report
components of the difference.
 Convert from cash basis net income to accrual basis net income.
 Describe the purpose of the balance sheet and understand its usefulness and limitations.
 Demonstrate ability to prepare balance sheet in accordance with the GAAP requirements.
 Describe the purpose of the statement of cash flows.
 Demonstrate ability to prepare cash flow statement in accordance with the GAAP requirements
using direct or indirect method.
 Understand the concepts of future and present value.
 Briefly describe how the concept of the time value of money is incorporated into the valuation of
bonds, long-term leases, and pension obligations.
 Understand the issues related to accounting for cash and receivables, such as:
o approaches to estimating bad debts;
o the accounting treatment of short-term notes receivable;
 Differentiate between the use of receivables in financing arrangements accounted for as a secured
borrowing and those accounted for as a sale.
 Understand the issues related to accounting for inventories such as:
o valuation of inventories;
o accounting for cash discounts;
o merchandise returns;
 Differentiate between the specific identification, FIFO, LIFO, and average cost methods used to
determine the cost of ending inventory and cost of goods sold.
 Understand and apply the lower-of-cost-or-market rule used to value inventories.
 Estimate ending inventory and cost of goods sold using the gross profit method the retail
inventory method.
 Understand the issues related to accounting for property, plant, and equipment, such as:
o costs included in the initial cost of property, plant, and equipment, natural resources, and
intangible assets;
o cost of individual operational assets acquired as a group for a lump-sum purchase price;
o cost of operational assets acquired in exchange for equity securities, or through donation;
o cost of a self-constructed asset and the amount of capitalized interest;
o dispositions and exchanges of nonmonetary assets;
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o depreciation, amortization, and depletion of long-term assets;
o impairment of the value of long-term assets;
o accounting treatment of repairs and maintenance, additions, improvements, and
rearrangements to operational assets.
6. Teaching Methodology
The format of the course is a mix of lecture and tutorial.
7. Assessment Scheme
Continuous Assessment
 Mid-term Exam 1
 Mid-term Exam 2
Final Assessment
 Examination
TOTAL
60%
30%
30%
40%
40%
100%
ASSESSMENT IN DETAIL
Class Attendance and Participation
Attendance of the lectures and tutorials is mandatory.
Up to 2% bonus for ACTIVE participation may be awarded on top of the normal grade.
Examination
 There will be a continuous assessment throughout the course in the form of three mid-term and one
final in-class examinations, which may include problem solving, quizzes, multiple choice
questions, and essays.
 Bring your passport, or personal ID, or driving license to the each exam.
 Cheating will result in disciplinary action.
8. Grading Scale
Letter grades for the course will follow the same standards as specified in the Catalog. See the
following table for grading scale:
90 to 100
85 to 89
80 to 84
77 to 79
73 to 76
70 to 72
Pass A+
Pass A
Pass APass B+
Pass B
Pass B-
67 to 69
63 to 66
60 to 62
57 to 59
53 to 56
50 to 52
Pass C+
Pass C
Pass CPass D+
Pass D
Pass D-
below 50
F
9. Course Policies and Instructor’s expectations of students
 Course instructor is available to you to assist and answer your questions individually during the
office hours.
 Attendance of the lectures and tutorials is strongly required.
 Students are expected to be on time on the designated class periods.
 Students are required to access information on KIMEP Network – disk L for problem solutions,
announcements, etc.
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 Grading, attendance and examination policies and procedures will be applied in accordance with
stated KIMEP rules of conduct and discipline.
10.
Period-by-period Schedule (Tentative)
Date of the Session
Topics
Sep 3, 5
Introduction: course structure. Ch.1: Environment and
the Theoretical Structure of Financial Accounting
Sep 10, 12, 17
Ch.2: Review of the Accounting Process
Sep 19, 24, 26
Ch.3: The Balance Sheet and Financial Disclosures
Oct 1,3, 8
Ch.4: The Income Statement and Statement of Cash
Flows
Oct 10
Short Exams
Exam 1 - Ch. 1, 2, 3, 4
Oct 15, 17, 22
Ch.5: Income Measurement and Profitability Analysis
Oct 24, 29
Ch 6: Time Value of Money Concepts
Oct 31, Nov 5, 7
Ch 7: Cash and Receivables
Nov 12
Exam 1 - Ch. 5, 6, 7
Nov 14, 21, 26
Ch 8: Inventories, Measurement
Nov 26, 28
Ch 9: Inventories: Additional Issues
Dec 3, 5, 10, 12
Ch 10: Property, Plant, and Equipment and Intangible
Assets: Acquisition and Disposition. Ch11: Property,
Plant, and Equipment and Intangible Assets:
Utilization
Impairments
Date
will beand
determined
by the Registrar
Final Exam – Ch. 8, 9,
10, 11.
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