The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Instructor: Sid Glandon
Office: BUSN #215
Mailing Address:
The University of Texas at El Paso
College of Business Administration
Department of Accounting, Room 260
500 W. University
El Paso, Texas 79968-0542
Office Hours:
Monday
1:00 PM – 4:30 PM
Wednesday 1:00 PM – 4:30 PM
E-mail: sglandon@utep.edu
WEB Site: http://utminers.utep.edu/sglandon
Phone: (915) 747-7759
FAX: (915) 747-8618
Course Description: Intermediate Accounting II
A continuation of Intermediate Accounting I. An in-depth study of financial accounting
concepts, elements of financial statements, and preparation of financial reports.
Prerequisites: Intermediate Accounting I (with a grade of “C” or better)
Meeting Time and Location:
Section 27312, 6:00 – 8:50 PM, Wednesday, BUSN #309
Required Materials: Intermediate Accounting, Spiceland, Sepe and Tomassini, Irwin/McGraw
Hill Companies, Inc., Third Edition, 2004.
Recommended Materials: Intermediate Accounting Study Guide, Volume 2, Spiceland, Sepe
and Tomassini, Irwin/McGraw Hill Companies, Inc., Third Edition, 2004.
Effective Writing: A Handbook for Accountants, May and May, Fourth Edition.
We will be using Microsoft Word and Excel and Great Plains accounting software.
Southwest Office Systems, Inc. Practice Set, TerryAnn Glandon and Sid Glandon, 2005,
available through the UTEP Accounting Society.
Financial Accounting Exam Questions and Explanations: A Supplemental Text, Gleim and
Collins, Gleim Publications, Eleventh Edition, 2003.
Objectives:
 To obtain an understanding of the value and limitations of accounting.
 To explore the basic concepts of financial accounting theory and practices.
 To build the foundation for life-long learning.
 To develop an appreciation for the roles and responsibilities of a professional accountant.
 To provide the foundation and facilitate the learning process in preparation for
professional exams.
 To develop an understanding of and appreciation for the art of accounting.
 To examine and accept the ethical responsibilities associated with becoming a
professional accountant.
 To critically analyze the appropriateness of alternatives in the application of accounting
concepts and principles.
 To develop and/or improve written communication skills.
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Method of Evaluation:
Section exams
Comprehensive final exam
Quizzes
Homework
In class activities
Practice set engagements
Total
Points
500
200
100
50
75
75
1,000
Grades will be determined based on the following:
Letter Grade
A
B
C
D
F
Allocation
90% - 100%
80% - 89%
70% - 79%
60% - 69%
Less than 60%
Section Exams
There will be five section exams covering material over two or three chapters at a time. Check
the class schedule for coverage of each exam. The exams will include multiple-choice questions
and problems. There are NO makeup exams. If you are not able to make it to class to take the
exam you may always make arrangements to take it early. In the event of a medical emergency
you must notify the instructor before the date and time of the exam.
Comprehensive Final Exam:
The comprehensive final exam is prepared by the Department of Accounting and is administered
to all Intermediate Accounting I classes. The exam consists of 50 multiple-choice questions.
The exam is always scheduled for the first day of exam week from 1:00 PM to 3:45 PM. It is
worth 20% of your grade. It is departmental policy that in order to pass this class you must
achieve a minimum adjusted score of 40% on the comprehensive final exam. Failure to achieve
an acceptable score will result in a grade of “F” for the course irrespective of the scores achieved
on other exams and/or assignments throughout the semester.
Quizzes:
There will be a quiz given at the beginning of the coverage of each chapter. It will consist of 10
multiple choice questions. Please be sure that you have a supply scantrons for the quizzes. Once
you have completed the quiz and submitted your scantron you will meet with your student
accounting firm to discuss the answers that you selected. The student accounting firm will
prepare a second scantron with the answers to the quiz that the group has determined to be
correct. Your quiz score will consist of your score plus one-half of the difference, if the
difference is positive, between the student accounting firm score and your score. If you earned a
higher score than the group you will receive your individual score for this assignment.
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Homework:
There are departmentally assigned exercises, problems and cases for each chapter. Check figures
for all computational exercises and problems will be posted on my web site.
The exercises are brief scenarios that require you to apply the concepts and principles you have
learned in the lesson. Most exercises are computational in nature and must be prepared using
Excel. Please refer to the work paper format section of this syllabus for specific instructions
on how to prepare Excel work papers for this class.
The problems are expanded situations that require a broader application of the concepts and
principles that you learned in the lesson. Again, most of the problems are computational in
nature and must be prepared in the prescribed Excel format.
The cases deal primarily with ethical situations and/or unstructured scenarios that require
analysis of the situation and application of your knowledge regarding the issues. These are
primarily conceptual in nature and your responses should be prepared in Word. On occasion you
will need to import a graph, chart or spreadsheet from an Excel file to more fully develop your
discussion. Please refer to the work paper format section of this syllabus for specific
instructions on how to prepare Word work papers for this class.
Accounting Firm Assignments
Students will form simulated student accounting firms at the beginning of the semester. You
may form a proprietorship (a single student simulated firm) or a partnership (no more than five
students may be in a firm). All student accounting firm in-class activities and practice set
engagements will be completed by the firm. Each member will receive the grade that is assigned
to the firm. If you choose to form a proprietorship and then later in the semester you wish to join
a firm with fewer than five partners you may do so with the consent of all of the members of the
firm. If a firm has a partner who is not contributing sufficiently to the team effort the partner
may be terminated from the firm. This requires a unanimous vote of all of the remaining
partners. The terminated partner will automatically become a proprietorship for the remainder of
the semester.
 Student Accounting Firm In-Class Activities: I have prepared in-class activities for
each chapter and/or learning objective. During the class period your student accounting
firm will be given a copy of the activity. Your student accounting firm will have
approximately one hour to complete the activity and submit it for grading. After class I
will post both a copy of the original activity and the recommended solutions so that you
can practice reworking the problems. This will help in studying for section exams and
the final exam.
 Southwest Office Systems Practice Set: The practice set is a simulation of a
distribution company that sells and services copy and fax machines, and sells toner and
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
paper supplies. Your firm has been engaged to provide accounting services which
includes consulting on a number of issues and the preparation of quarterly complied
financial statements. All assignments, forms, and examples for the practice set and the
formation of student accounting firms can be found at the practice set web site, which is
http://accounting.utep.edu/gp/PracticeSet/
Attendance
It is your responsibility to attend all class sessions. Class begins at 6:00 PM. Walking into room
after class has begun is very disruptive and disrespectful to your instructor and fellow students.
Don’t forget that this class only meets once per week so if you miss a class you have actually
missed three 50-minute classes. As noted above there is a great deal of in-class work. If you
miss a class session you will not be able to make up this work. The solutions to quizzes and inclass projects will be posted on my web site so that you can catch up on learning the material for
exams.
Computer Proficiency:
To participate in this class you must be proficient in the use of Microsoft Word and Excel
applications. In completing the practice set you will have an opportunity to use Great Plains
accounting software which is a mid-level software package used by many closely-held business
enterprises in the El Paso area. All accounting students must have a working email address.
Prior to the second class period you are to send me an email indicating your email address so that
I can build an email directory for the class. This will help facilitate communication throughout
the semester.
Academic Integrity:
The University of Texas at El Paso prides itself on its standards of academic excellence. In all
matters of intellectual pursuit, UTEP faulty and students must strive to achieve excellence based
on the quality of the work produced by the individual. In the classroom and in all other
academic activities, students are expected to uphold the highest standards of academic integrity.
Any form of scholastic dishonesty is an affront to the pursuit of knowledge and jeopardizes the
quality of the degree awarded to all graduates of UTEP. It is imperative, therefore, that the
members of this academic community understand the regulations pertaining to academic
integrity and that all faculty insist on adherence to these standards.
Any student who commits an act of scholastic dishonesty is subject to discipline. Scholastic
dishonesty includes, but is not limited to cheating, plagiarism, collusion, the submission for
credit of any work or materials that are attributable in whole or in part to another person, taking
an examination for another person, any act designed to give unfair advantage to a student or the
attempt to commit such acts. Proven violations of the detailed regulations, as printed in the
Handbook of Operating Procedures (HOP) available in the Office of the Dean of Students, may
result in sanctions ranging from disciplinary probation, to failing grades on the work in
questions, to failing grades in the course, to suspension or dismissal, among others.
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Specifically, the submission for credit of computer prepared assignments (Word, Excel, Access,
etc.) completed by others, either in previous semesters, or by other members of the class in this
semester will be dealt with in the severest possible manner. The mere suspicion of such
activities will result in referral to the Dean of Students, with recommendation for the severest
possible sanctions, if found guilty.
Course Repeat Policy:
The university has adopted a policy that limits undergraduate course enrollment. The policy was
implemented in the Fall semester of 1995. Courses taken before Fall 1995 will not count as
enrollments in meeting the maximum three enrollments in a course. As noted, individual
colleges may have more restrictive policies. The university policy is as follows:
Limits on Undergraduate Course Enrollment.
In most instances a student may enroll in an undergraduate class a maximum of
three times, except with the permission of the student’s academic dean. A student
may enroll more than three times in a variable topic, studio, performance,
workshop or other course that is identified as ‘may be repeated for credit.’ This
includes enrollments that result in a grade of ‘W’, ‘F’, ‘D’, or ‘P’. It does not
apply to courses taken prior to the students’ re-enrolling under ‘Option 2’ or
Readmission After Extended Absence. Individual colleges may have more
restrictive policies. The College of Business Administration instituted a “3 time”
enrollment limitation in the spring of 1993. Business courses taken that semester
or later are subject to this rule.
A student may not enroll in a course in which a grade of ‘C’ or higher has been
previously earned) except for a variable-topic, studio, performance, workshop or
other course that is identified as ‘may be repeated for credit’). Moreover, a
student may not enroll in a course in which he or she has an unresolved grade of
‘I’.
Withdrawal Policy:
The last date that you may drop the course with an automatic “W” is Friday, March 18, 2005.
After that date, students must be dropped from a course with a mandatory grade of “F.” A grade
of “W,” after Friday, March 18, 2005, may be assigned only under exceptional circumstances,
and only with the approval of the instructor and academic dean. The student must petition for
the “W” in writing and provide the necessary supporting documentation. Please note that if you
can no longer continue in the course, for whatever reason, it is your responsibility to withdraw
from the course.
Work Paper Format
All homework and accounting firm assignments must be prepared in the prescribed format. The
preparation of work papers is an important component of the practice of accounting. Work
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
papers must be well organized and logical with appropriate analysis that is clear to the preparer
and reviewer. Please spend sufficient time organizing and preparing your work papers so that
they are easy to read and understand. Throughout the semester you will be given suggested
formats to assist in this task. DO NOT PUT ASSIGNMENTS IN NOTEBOOKS OR
FOLDERS. ALL DOCUMENTS SHOULD HAVE AN APPROPRIATE HEADER IN THE
UPPER RIGHT HAND CORNER AS DESCRIBED BELOW. DO NOT ATTACH AN
ADDITIONAL COVER SHEET.
1. Excel Work Papers
Computational assignments will require the formatting of an Excel work paper. The
steps involve selecting file in the upper menu and then selecting page setup. There are
four screens in page setup. You will need to made adjustments in each screen as
described in a) through d) below.
a) Page
Select page. Under orientation the default is Portrait. You would select
Landscape if you have a multicolumn spreadsheet that is wider than the normal 8
½ inches. Under scaling, select Print to Fit. This will cause the work paper to be
printed on one page.
b) Margins
Select margins and using the directional buttons set the top margin at 1.5 and the
bottom, left and right margins at 1. Adjust the width of the columns so that the
document is centered on the page. Leave the header and footer margins at 0.5.
c) Header/Footer
Select Header/Footer and click on custom header. Place the cursor in the right
section and type in your name (team name), course and section number,
assignment, and the date you prepared the work paper. Once you have completed
the information in the header click OK. Now click on custom footer. Again,
place the cursor in the right section and click on page number (#). Once you have
inserted the page number, click OK.
d) Sheet
Select sheet and under print section, select gridlines. This will print gridlines on
the page making it much easer to read and review.
You have completed the work paper setup and are now ready to prepare your work
paper. Remember, it is very important that the work paper be as readable as possible.
The reviewer should be able to determine from your analysis how you reached your
conclusions.
When you are ready to print a work paper, highlight the area you want to print using
your cursor. Select file, click on print area and click on select print area. This will put
the material you highlighted on the printed page. It is always a good idea to print
preview to make sure that the appearance of the work paper will be appropriate.
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
2. Word Work Papers
Conceptual work papers and other writing assignments such as letters, memos, etc.
must be prepared in Word. The steps involved are as follows:
a) File
To format the page, click on file and select page setup. In the Margins section set the
top margin at 1.5 and the bottom, right and left margins at 1.0. In the orientation
section check to make sure that the default is Portrait. If you are preparing a
multicolumn document you may wish to use Landscape orientation. Click OK to
close the page setup screen.
b) Insert
To insert pages numbers in the document select Insert, click on page numbers. The
default is position at the bottom of the page and alignment right. Click OK and the
page numbers will be inserted in your document in the bottom right corner.
c) View
To insert the header, select View, click on Header and Footer. Select align right and
type in your name (team name), course and section number, assignment, and the date
you prepared the work paper. When you have entered the four lines click on close.
You have completed the work paper setup and are now ready to prepare your work
paper. Remember, it is very important that the work paper be as readable as possible.
The reviewer should be able to determine from your analysis how you reached your
conclusions. When you are ready to print your work paper, click on the print icon on
the tool bar.
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Course Schedule:
Week
1/12
1/19
1/26
Chapter
13
14
Exam #1
Topics and Assignments
Current Liabilities and Contingencies
Discussion
Quiz Chapter 13
Student Accounting Firm Project, SAF Chapter 13
Exercise 13-4, Short-term notes
Problem 13-3, Current-noncurrent classification of debt
Exercise 13-7, Various transactions involving advance collections
Exercise 13-10 Warranties
Problem 13-5 Various contingencies
Proglem 13-10 Payroll-telated liabilities
Trueblood Accounting Case 13-5, Evaluation of a loss contingency
Bonds and Long Term Notes
Discussion
Quiz Chapter 14
Student Accounting Firm Project, SAF Chapter 14
Exercise14-3, Issue Price of Bonds
Exercise14-6, Issue Price of Bonds
Exercise14-11, Issue Price/Amortization Sechedule
Problem14-11, Noninterest-Bearig Installment Note
Problem14-16, Debt Issue Costs
Ethics Case14-9, Debt for Equity Swaps
Chapters 13 and 14
Due
1/12
1/12
1/19
1/19
1/19
1/19
1/19
1/19
1/19
1/19
1/19
1/26
1/26
1/26
1/26
1/26
1/26
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Week
2/2
2/9
2/16
Chapter
15
16
Exam #2
Topics and Assignments
Leases
Discussion
Quiz Chapter 15
Student Accounting Firm Project, SAF Chapter 15
Exercise15-4, Capital Lease; Lessee
Exercise15-5, Direct Financing Lease; Lessor
Problem15-3, Direct Financing/Sales Type Lease
Problem15-8, Guaranteed Residual Value
Problem15-10, Bargain Purchase Option
Ethics Case15-7, Leasehold Improvements
Accounting for Income Taxes
Discussion
Quiz Chapter 16
Student Accounting Firm Project, SAF Chapter 16
Exercise16-3, Single Temporary Difference
Exercise16-8, Deferred Tax Liability
Exercise16-16, Multiple Temporary Differences
Problem16-5, Change in Tax Rate
Problem16-10, Operating Loss Carryback/Carryforward
Chapters 15 and 16
Due
2/2
2/2
2/9
2/9
2/9
2/9
2/9
2/9
2/9
2/9
2/16
2/16
2/16
2/16
2/16
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Week
2/23
3/2
3/9
Chapter
17
18
Exam #3
Topics and Assignments
Pensions
Discussion
Quiz Chapter 17
Student Accounting Firm Project, SAF Chapter 17
Exercise17-9, Pension Expense
Exercise17-11, PBO/ABO Calculations
Exercise17-18, Additional Minimum Liability
Problem17-5, Gain on PBO
Real World Case17-9, Pension Ammendment
Ethics Case17-6, 401(k) Plan Contributions
Employee Benefit Plans
Discussion
Quiz Chapter 18
Student Accounting Firm Project, SAF Chapter 18
Exercise18-3, Post Retirment Benefits APBO/EPBO
Exercise18-7, Amortization of Unrecognized Net Loss
Exercise18-16, Stock Option Plan
P18-3, Schedule-Post Retirment Benefit Costs
Real World Case18-6, Restricted Stock Plan
Ethics Case18-11, Stock Options
Chapters 17 and 18
Due
2/23
2/23
3/2
3/2
3/2
3/2
3/2
3/2
3/2
3/2
3/9
3/9
3/9
3/9
3/9
3/9
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Week
3/16
3/30
4/6
Chapter
19
20
Exam #4
Topics and Assignments
Shareholders' Equity
Discussion
Quiz Chapter 19
Student Accounting Firm Project, SAF Chapter 19
Exercise19-3, Issuance of Shares
Exercise19-8, Retirement of Shares
Exercise19-10, Treasury Stock
Exercise19-15, Stock Dividend
Problem19-3, Reacquired Shares
Ethics Case19-10, The Swiss Label Maker
Earnings per Share
Discussion
Quiz Chapter 20
Student Accounting Firm Project, SAF Chapter 20
Exercise20-2, Shares Issued
Exercise20-6, Treasury Stock
Exercise20-8, Stock Dividend
Problem20-9, Stock Options, Convertible Preferred Stock
Problem20-10, Stock Options; Nonconvertible Preferred stock
Judgement Case 20-1, Where are the Profits?
Ethics Case20-6, International Network Solutions
Chapters 19 and 20
Due
3/16
3/16
3/30
3/30
3/30
3/30
3/30
3/30
3/30
3/30
4/6
4/6
4/6
4/6
4/6
4/6
4/6
4/6
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The University of Texas at El Paso
College of Business Administration-Department of Accounting
ACCT 3322-Intermediate Accounting II
Spring Semester 2005
Week
4/13
4/20
4/27
4/27
5/2
Chapter
21
Topics and Assignments
Due
Accounting Changes and Error Corrections
Discussion
Quiz Chapter 21
4/13
Student Accounting Firm Project, SAF Chapter 21
4/13
Exercise21-2, Change in Accounting Principle
4/20
Exercise21-12, Warranty Expense
4/20
Exercise21-22, Error Corrections
4/20
Problem21-4, Change in Principle
4/20
Problem21-14, Errors
4/20
Ethics Case21-7, Softening the Blow
4/20
22
The Statement of Cash Flows
Discussion
Quiz Chapter 22
4/20
Student Accounting Firm Project, SAF Chapter 22
4/20
Exercise22-14, Cash Flows from Investing and Financing Activities 4/27
Exercise22-17, Indirect Method
4/27
Exercise22-20, Reconciliation of Net Cash Flows from Operating Activities
4/27 to Net Inc
Exercise22-22, Indirect Method
4/27
Exercise22-30, Indirect Method
4/27
Problem22-14, Statement of Cash Flows, Indirect Method
4/27
Ethics Case22-7, Where's the Cash?
4/27
Exam #5 Chapters 21 and 22
Review
Final Exam Monday, 1:00 PM to 3:24 PM
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