IVY TECH STATE COLLEGE-NORTHCENTRAL SYLLABUS Accounting Technology Associate in Applied Science COURSE TITLE: COURSE NUMBER: PREREQUISITES: PROGRAM: DIVISION: CREDIT HOURS: CONTACT HOURS: Intermediate Accounting II ACC 202 ACC201 – Intermediate Accounting I Accounting Business Division 3 3 Lecture DATE OF LAST REVISION: Spring 2005 EFF. DATE OF THIS REVISION: Fall 2005 COURSE DESCRIPTION: Continues studies of Intermediate Accounting I and includes long-term investments, long-term debt, stockholders’ equity, special accounting problems and analysis, and financial statement analysis. Also included are corporate capital and treasury stock transactions, dividends, earning per share, accounting for income taxes and creation of financial statement from incomplete records. GENERAL COURSE LEARNING OBJECTIVES: Upon completion of this course the student will be able to: 1. Recognize and apply terminology used throughout the course. 2. Calculate and prepare journal entries for: a. Long-term investments in stock under the cost, equity and market value methods. c. Conversion of convertible securities. b. Acquisition of long-term investments in bonds, including amortization of discount and premium using the interest or straight-line methods. d. other long-term investments, including long-term receivables and special-purpose funds. e. long-term debt and term or serial bonds, either on or between interest dates, to include amortization of bond premium or discount using the interest or straight-line methods. f. the early extinguishment of bonds. g. the issuance of convertible bonds and their conversions, bonds with stock warrants attached, and zero-coupon bonds. h. subscription, issuance and defaults of capital stock. i. stock splits and stock dividends. j. the issuance of stock warrants. k. the conversion of convertible bonds and preferred stock to common stock. 3. Discuss structure and equity definitions of the corporation, including the components and characteristics of stockholder’s equity. ACC 202 – Intermediate Accounting II Page 2 GENERAL COURSE OBJECTIVES: (con’t) 4. Discuss characteristics of preferred stock (convertible, callable and redeemable) and calculate dividends for cumulative, noncumulative, participating, nonparticipating preferred stock in cash or nonmonetary assets. 5. Detail the items affecting retained earnings. 6. Discuss noncompensatory and compensatory stock option plans. 7. Define treasury stock, discuss its relationship to stated or legal capital and prepare journal entries for it using either the par or cost methods. 8. Create and detail the statement of retained earnings and the stockholder’s equity section of the balance sheet. 9. Calculate earnings per share for simple and complex capital structures, including presentation of primary and fully diluted earnings per share. 10. Define and discuss the nature of interperiod and intraperiod tax allocation and prepare necessary journal entries. 11. Define, differentiate, and prepare journal entries for the four basic types of accounting changes. These include a change in principle, a change in estimate, a change in reporting entity. 12. Analyze, evaluate and create financial statements from incomplete accounting records. 13. Analyze and evaluate financial statements using various measurements and ratios for liquidity, solvency, return on investments, and other factors 14. Apply, calculate and perform the accounting for construction-type contracts under the percentage of completion and completed-contract method OPTIONAL: 15. Research an accounting topic of current interest and write a report on the findings. COURSE CONTENT: Topical areas of study include – Accounting ethics Financial statements Accrual accounting Cash based accounting Accounting management controls Long-term asset acquisition, disposal and depreciation Inventory methods Correction of previous entries Analysis of accounting information ACC 202 – Intermediate Accounting II Page 3 TEXTS/CURRICULUM MATERIALS: Kieso, Wygandt & Warfield, Intermediate Accounting, 11th Edition, John Wiley & Sons Publishing, Study Guide is optional, but recommended. ACADEMIC HONESTY STATEMENT: The College is committed to academic integrity in all its practices. The faculty value intellectual integrity and a high standard of academic conduct. Activities that violate academic integrity undermine the quality and diminish the value of educational achievement. Cheating on papers, tests or other academic works is a violation of College rules. No student shall engage in behavior that, in the judgment of the instructor of the class, may be construed as cheating. This may include, but is not limited to, plagiarism or other forms of academic dishonesty such as the acquisition without permission of tests or other academic materials and/or distribution of these materials and other academic work. This includes students who aid and abet as well as those who attempt such behavior. ADA STATEMENT: Ivy Tech seeks to provide effective services and accommodations for qualified individuals with documented disabilities. If you need an accommodation because of a documented disability, you are required to register with Disability Support Services at the beginning of the semester. If you will require assistance during an emergency evacuation, notify your instructor immediately. Look for evacuation procedures posted in your classrooms. METHOD(S) OF DELIVERY: Lecture and Blackboard resources. MATERIALS AND SUPPLIES TO BE SUPPLIED BY STUDENT: Required textbook, calculator. METHOD(S) OF EVALUATION: Mid-term Exam Special Projects (2) Homework & Class Participation Final Exam TOTAL MAKE-UP POLICY: 20% 35% 25% 20% 100% Missed tests must be made up before the next class session. You must notify me prior to missing the test so that arrangements can be made to take the test. Only extenuating circumstances, such as accident, illness, or change in work schedule will allow extra time for make-up test without penalty. ACC 202 – Intermediate Accounting II Page 4 GRADING: 90 - 100% = A 80 - 89% = B 70 - 79% = C 60 - 69% = D Below 60% = F ATTENDANCE POLICY: Attendance/punctuality, attitude/self-motivation, class participation, make-up of missed work, will be considered in determination of final grade. DISABILITY SUPPORT SERVICES: In South Bend, call Amy Matthews, 574-289-7001. Ext. 5340. Her office is in Room 1213 (in the Learning Lab) on the South Bend campus. LAST DATE TO DROP: GENERAL EDUCATION OUTCOMES: Ivy Tech State College is committed to graduating students who have the appropriate technical and general education skills. General Education skills are assessed in selected courses through an authentic assessment project to evaluate curriculum effectiveness. COURSE ACTIVITY DISCLAIMER: The instructor reserves the right to alter the type and sequence of activities scheduled for this course. CALENDAR OF ACTIVITIES: As described on the Intermediate Accounting II Assignment Sheet ACTIVITIES SCHEDULE: Week 1 Topic Introductory Remarks Chapter 3 Review 2 Chapter 14, Long Term Liabilities 3 Chapter 14, Long Term Liabilities (continued) 4 Chapter 15 Stockholders’ Equity 5 Chapter 15 Stockholders’ Equity (continued) 6 Chapter 16 Dilutive Securities & Earnings per share ACC 202 – Intermediate Accounting II 7 Chapter 17 Investments 8 Chapter 18 Revenue Recognition 9 Mid-term Exam 10 Chapter 19 Accounting for Income Taxes 11 Chapter 20 Accounting for Pensions & Post Retirement Benefits 12 Chapter 21 Accounting for Leases 13 Chapter 22 Accounting Changes and Error Analysis 14 Chapter 23 Statement of Cash Flows 15 Chapter 24 Full Disclosure in Financial Reporting 16 Final Exam Page 5