TOURO COLLEGE COURSE SYLLABUS
DEPARTMENT: Business and Accounting
COURSE TITLE: Intermediate Accounting II
COURSE NUMBER:
EBA 202
PREREQUISITES:
EBA 201
CREDIT HOURS: 3
DEVELOPER:
David Tajerstein
LAST UPDATE: December 5, 2003
COURSE DESCRIPTION
This course will focus on the accounting for long-term debt, leases,
pensions, investments and income taxes. In addition, this course will review
in great detail the stockholders equity section of the balance sheet, inclusive
of earnings per share calculations. Finally, this course will examine the
issues of revenue recognition and the treatment of various accounting
changes and errors.
COURSE DEPARMENTAL OBJECTIVES
The objective of this course is to expand on the student’s knowledge of
financial accounting acquired in Intermediate Accounting I and serve as a
bridge to Advanced Accounting. The student will be exposed to the
intricacies of the stockholder’s equity section of the balance sheet, inclusive
of earnings per share considerations. Moreover, the student will learn how to
recognize and treat accounting errors and changes as they occur. Addition,
the student will be exposed to and learn how to approach complex financial
accounting areas such as leases, pensions, investments, accounting for
income taxes and long term debt. Finally, the student will learn to deal with
various issues surrounding revenue recognition.
COURSE INSTITUTIONAL OBJECTIVES
This course is intended to augment the students’ knowledge of Financial
Accounting while preparing them to deal with the types of accounting issues
they will be exposed to while employed in the public or private accounting
sector. In addition this course will aid in the students Preparation to
successfully complete the financial accounting of the Uniform CPA
Examination. The successful completion of all four parts of the Uniform
CPA Examination is an institutional goal that this course is designed to
assist in accomplishing.
COURSE CONTENT
Long-Term Debt
The first part of this course deals with the accounting for long-term debt.
First the course looks at the issuance of notes in exchange for good and
services, in particular the treatment of non-interest bearing instruments. To
finish this area the course will examine the area of bonds. The accounting
for the issuance of bonds at a premium or discount will be discussed in
detail. Finally, amortization of premiums and discounts via the effective
interest method will be studied.
Stockholders Equity
The second part of this course will focus in great detail on the stockholders
section of the balance sheet. It will deal with the issuance of common and
preferred stock, the repurchase of stock as treasury stock, the accounting for
various dividends, and earning-per-share calculations.
Investments
The third part of the course deals with investment accounting. In particular
the course will examine the equity method or accounting for investments as
well as the fair value method (FASB # 115)
Revenue Recognition
The fourth part of the course will examine revenue recognition. Specific
topics will include construction accounting as well as the installment sales
method of accounting.
Income Taxes, Leases and Pension
The fifth part of the course will explore three topics that are generally
introduced here for the firs time in a students accounting education.
Accounting for income taxes discusses the provision for income taxes (both
the current and deferred portion) in the income statement as well as the
presentation of deferred tax assets and liabilities in the balance sheet.
The topic of leases examines the distinction between operating leases and
capital leases. The course will focus on lesson and lessees accounting with
emphasis placed on the latter. Finally, the area of pension accounting will be
introduced. Particular attention will be paid to the components of pension
expense as well as the calculation of minimum pension liability.
HARDWARE/ SOFTWARE/ MATERIAL REQUIREMENT
Not Applicable
COURSE REQUIREMENTS
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Students must read assigned chapters in textbook
Students must complete homework assignments
Students must attend class and participate in classroom discussion
Students must take an exams
GRADING QUIDELINES:
Midterm Examination 45%
Final Examination
50%
Homework, Attendance
Class Participation
5%
100%
METHODOLOGY:
The course should be carried out via lecture with in-class reference to
pertinent illustrations and case studies in the textbook .The lectures should
be enhanced but introducing curr3ent developments in the accounting
profession, including recently released accounting principles and practices
published by authoritative bodies.
COURSE TEXT
Kieso, Weygandt, Warfield, Intermediate Accounting 11th ed., Wiley, 2003
ISBN# 047107208
BIBLIOGRAPHY
Journal of Accountancy – monthly by AICPA
www.aicpa.org
www.fasb.org
Dyckman, Dukes, and Davis, Intermediate Accounting 5th ed., Mcgraw Hill,
2001, ISBN# 0072508051.
Spiceland, Sipe, & Tommassini: Inermediate Accounting 3rd Ed.
Intermediate Accounting, Eighth edition, By Nikolai & Bazley
Intermediate Accounting, by Skousen, and Stice, 15th edition, ITP.
South Western Publishing Co.