ACCT 306 Intermediate Accounting I
Fall 2010 – 15 Week Class
Instructor:
Dr. Julie Burkey
Office: 2D
Office Hours:
Phone number: 302-225-6221
E-mail address: burkeyj@gbc.edu
MW
7:00 – 9:30 am
11:00 am – Noon
Tues.
7:00 – 8:30 am
10:00 – Noon
2:30 – 5:30 pm
Thur.
7:00 – 8:30 am
Other times by appointment
Tutoring Hours: M
W
REQUIRED TEXT:
Noon – 1:30 pm
Noon – 1:30 pm
Warfield, Weygandt & Kieso, Intermediate Accounting Principles and
nd
Analysis (2 Ed.) (2008)
Gleim & Collins, Financial Accounting Objective Questions and
th
Explanations, (14 Ed.)
COURSE OBJECTIVE:
1.
The student will learn to use the conceptual accounting framework and develop
an understanding of the historical perspective of the accounting profession.
2.
The student will exhibit expanded knowledge of the conceptual and procedural
phases of the income statement and the statement of retained earnings.
a. The student should be able to align all phases of the multiple-step income
statement and retained earnings statements.
b. The student should be able to discern the “irregular” elements of the multiplestep income statement.
3.
The student will exhibit expanded knowledge of the classified balance sheet.
a. The student will exhibit a working knowledge of the asset section of the
classified balance sheet.
b. The student will develop an understanding of the current liability section of
the classified balance sheet.
4.
The student will be able to utilized basic time value of money calculations.
1
Grade: Your grade will be based upon three exams and homework assignments. Your letter
grade for the course will correspond to the appropriate College grading scale. The total points
possible are as follows:
The best 3 out of 4 exams
Exam 1 (Chapters 1 – 4 and Appendix A)
100
Exam 2 (Chapters 5, 8, & 9 and Appendix A)
100
Exam 3 (Chapters 10, 11 & 16 and Appendix A) 100
Final (Comprehensive)
100
Minus low score
-100
Exam points
Online Homework Assignments
Total points possible
300
60
360
Exam Policy: The lowest exam score will be dropped. If you are satisfied with your grade going
into the final you will not have to take the final. However, if you want to try to raise your average
you will have to take the final. The first three (non-comprehensive) exams will be composed of
multiple choice questions and problems and will be administered in the classroom.
Arrangements must be made with the instructor prior to exam time (this means before class
starts) before any make-up exams will be allowed. Make-up exams are defined as missed exams
not exams you have taken and want to take again. The student will receive a given percentage of
the score received for any make-up exam administered as follows:
First make-up exam
Second make-up exam
Third make-up exam
90% of score
75% of score
50% of score
For example, a raw score of 80 is received on the first make-up exam, the student will receive an
adjusted score of 72 (80 * 90%) in the gradebook. More likely than not make-up exams will be
composed entirely of multiple choice questions (none of which will be found in the Gleim book)
and must be taken in a timeframe established by the instructor.
Comprehensive Final: The comprehensive final will consist of 53 multiple choice questions
selected at random worth 2 points each. The administration of this final will be discussed at a
later date.
Extra Credit: Each exam will afford the student an opportunity to earn a minimum of 5 extra
credit points. This allows everyone in the class an equal opportunity to earn extra credit. No
additional extra credit will be made available.
Online Homework Assignments: Three online homework assignments will be given throughout
the semester for a grade. Each will be worth 20 points. These graded assignments will be
available on Blackboard under “Assignments” at least one week before each of the first three
exams. Each homework assignment must be submitted before taking the corresponding exam.
Ungraded Homework: The only way to learn accounting is by practicing problems and
exercises. Problems and exercises will be assigned in the textbook throughout the course. These
will not be collected or graded. Solutions for all textbook problems and exercises will be posted
on Blackboard under “Course Documents.”
2
Office Hours: Office hours are to discuss your questions. Office hours are not to repeat lectures
that you have missed. When you miss class, it is your responsibility to get the notes from another
student.
Tutorials: Tutorials will be held in the instructor’s office. If you are planning to attend you must
made an appointment prior to Noon of the day you are planning to attend. If no one has made an
appointment, the tutorial session will be cancelled. You can make an appointment either in
person (there will be a sign-up sheet on the bulletin board outside my office door) or via email.
All courses taught at Goldey-Beacom College are governed by the GBC Academic Honor
Code.
This syllabus is subject to change at the instructor's discretion.
3
Tentative Schedule
Date
Chap.
8/24
1
Major Topics
Textbook Homework
History of Accounting
Standards
Gleim Modules
th
th
14 or 15
Edition
1.1
House of GAAP
8/26
2
Conceptual Framework
8/31
3
Types of Accounts
Regular Business
Transactions
Adjusting Entries
Financial Statements
Closing Entries
9/2
3
9/7
9/9
9/14
4
4
App. A
Classified Balance Sheet
Classified Balance Sheet
Time Value of Money
9/16
9/21
9/23
App. A
Time Value of Money
Exam 1
Basic Income Statement
Basic Earnings per Share
Discontinued Operations
Extraordinary Items
Changes in Accounting
Principles
Prior Period Adjustments
Retained Earnings
Cash and Cash
Equivalents
Restricted vs. Unrestricted
Cash
Bank Overdrafts
Recognition of Accounts
Receivable
Valuation of Accounts
Receivable
Disposition of Accounts
Receivable
Time Value of Money
Long-Term Notes
Receivable
Long-Term Notes
Receivable
Inventory Systems
Cost Flow Assumptions:
Average Costing
FIFO
LIFO
5
9/28
5
9/30
10/5
5
8
10/7
8
10/12
8
10/14
9
1.2, 1.3, 1.4
2.1, 2.2, 2.3
E3-19, P3-1 (Journalize
regular Sept. entries only)
E3-6, E3-10
Prepare closing entries using
the Adjusted Trial Balance in
E3-10
P4-2
E4-5, E4-11
EA-2, EA-3, EA-4, EA-5, EA8
EA-9, EA-10, EA-12
5.1
None
3.1, 3.2, 3.3, 3.4
E5-6
E5-7
E5-5, E5-8, P5-7
E5-15
E8-2
5.3, 5.4, 5.5, 5.6
E8-5, E8-6
E8-7, P8-3
E8-12, E8-15, E8-17
E8-18
E8-19 (skip part d)
E9-1, E9-5
E9-9, P9-4
4
6.1, 6.2, 6.3, 6.4,
6.5 (LCM only)
Date
Chap.
10/19
9
10/21
10/26
10/28
9
10
Major Topics
Textbook Homework
Cost Flow Assumptions:
Dollar-Value LIFO
Lower of Cost or Market
Exam 2
Acquisition of PPE
Gleim Modules
th
th
14 or 15 Edition
E9-21, P9-8
E9-23, E9-24
E10-2, E10-4, E10-5, E10-8
7.1, 7.3, 7.4, 7.5,
7.7, 8.1, 8.2
Sale of PPE for cash
11/2
10
11/4
11/9
10
11/11
11
11/16
16
11/18
16
11/23
11/25
11/23 to
12/2 by
11:59 pm
Depreciation Methods
E10-12, E10-14, E10-15,
E10-16, P10-17
Changes in Estimations
TBA
Exchange of NonMonetary Assets
Subsequent Expenditures
Intangible Assets
Research and
Development
E10-21, E10-22, P10-8,
P10-9
None
Payroll Deductions
Compensated Absences
Stock Options
Postretirement Benefits
Exam 3
No Class - Thanksgiving
Online Final
E16-3, E16-4
E16-1
E16-5, E16-6
5
9.1, 9.2, 9.3, 9.4,
9.5
(Skip questions
with calculations
and entries)