GREAT BASIN COLLEGE
FALL 2009
COURSE SYLLABUS
ACC 203 INTERMEDIATE ACCOUNTING I (3 credits) (ER1, WV1, YV1, 1V1)
Instructor: Mrs. Bea Wallace, MBA, CPA
Office: GTA 103
Office Phone: (775) 753-2334 (voice mail)
Office Hours: 10:00-11:15 MTWT & by appointment
Time: Tues & Thur 4:00-5:15
Location: HTC 123
E-mail: Through WebCampus (preferred)
OR
BeatriceW@gwmail.gbcnv.edu
COURSE MATERIALS
1) Textbook: Intermediate Accounting: Principles and Analysis, by Warfield, Weygandt, & Kieso, 2d ed. (Required)
2) A calculator for working problems on homework, quizzes, and exams (Strongly Recommended)
COURSE CATALOG DESCRIPTION
An in-depth study of various aspects of financial statements prepared according to generally accepted accounting
principles. Topics include a review of basic accounting theory and practice, the development of accounting
standards, the conceptual framework of accounting, the treatment of cash, receivables, prepaid expenses, fixed
assets, and intangibles.
COURSE PREREQUISITES
ACC 201 & ACC 202 or the equivalent.
COURSE OBJECTIVES/EXPECTED LEARNER OUTCOMES
Upon completion of the course the student will be able to:
1. Identify the major financial statements, challenges facing accounting,
objectives of financial reporting, and major policy-setting bodies. Explain the
need for acctg standards and the meaning of GAAP.
2. Describe the financial reporting conceptual framework. Define the objectives
of financial reporting, the qualitative characteristics of acctg info, the basic
elements of financial statements, and the basic assumptions of accounting.
3. Understand accounting terms; explain double-entry rules; complete the
accounting cycle.
4. Explain the uses and limitations of a balance sheet; identify the major balance
sheet classifications; prepare a classified balance sheet; describe major
disclosure techniques for the balance sheet.
5. Explain intraperiod tax allocation, uses and limitations of an income statement,
how to report irregular items and other comprehensive income; prepare single
and multiple-step income statements and a retained earnings statement.
6. Prepare and analyze a statement of cash flows.
7. Apply the revenue recognition principle; use percentage-of-completion and
completed-contract methods for long-term contracts; describe installment-sales
and cost-recovery accounting methods.
8. Explain the recognition, valuation and disposition of accounts receivable and
notes receivable; prepare a bank reconciliation; describe cash controls.
9. Explain inventory cost flow assumptions, lower-of-cost-or-market, LIFO
reserve, LIFO liquidations, dollar-value LIFO, LIFO advantages and
disadvantages.
10.Account for the acquisition, valuation, subsequent costs, depreciation, and
disposition of plant assets.
11.Account for intangible assets, impairments, research and development costs.
MEASUREMENT
Chapter 1 homework problems
and quiz; Exam 1
Chapter 2 homework problems
and quiz; Exam 1
Chapter 3 homework problems
and quiz; Exam 1
Chapter 4 homework problems
and quiz; Exam 2
Chapter 5 homework problems
and quiz; Exam 2
Chapter 6 homework problems
and quiz; Exam 3
Chapter 7 homework problems
and quiz; Exam 3
Chapter 8 homework problems
and quiz; Exam 3
Chapter 9 homework problems
and quiz; Final Exam
Chapter 10 homework
problems and quiz; Final Exam
Chapter 11 homework
problems and quiz; Final Exam
METHODS OF INSTRUCTION
This is a IAV/ WebCampus enhanced course. Topics in this class will be covered by a combination of lecture,
discussion, and working exercises and problems. Students should read the chapter before it is discussed in class.
ATTENDANCE Students are expected to attend class regularly. A student who misses class is still responsible for
all lecture notes and assignments covered that period.
HOMEWORK/EXAMS
All homework, quizzes, and exams are completed online through WebCampus. Students may discuss homework
assignments, but the final product submitted should be each student’s individual work. Chapter quizzes are open
book, untimed, and completed independently. Three quizzes may be taken per chapter with the highest score
recorded. Exams are timed and must be completed independently. Working with others on exams or
transferring or receiving exam information before, during, or after an exam is cheating and will result in
disciplinary action in accordance with the GBC general catalog and student handbook.
ACC 203 Fall 2009 TENTATIVE CLASS SCHEDULE
Dates
Sep 1, 3
Sep 8, 10,
15
Sep 17, 22,
24
Sep 25-27
Sep 29,
Oct 1, 6
Oct 8, 13,
15
Oct 16-18
Oct 20,22
Oct 27,29,
Nov 3
Nov 5, 10,
12
Nov 13-15
Nov 17, 19
Nov 24
Nov 27
Nov 26-27
Dec 1
Dec 3, 8,
10
Dec 13-15
Topics
Introduction to Course and WebCampus
Ch 1: Financial Acctg & Acctg Standards
Project/Presentation Discussion
Ch 2: Conceptual Framework Underlying Financial
Acctg
Ch 3: The Acctg Information System;
App 3A: Using Reversing Entries;
App 3B: Using a Worksheet; Review for Exam 1
**EXAM 1 (Chapters 1-3)** on WebCampus
Ch 4: Balance Sheet
Ch 5: Income Statement & Related Information
Review for Exam 2
**EXAM 2 (Chapters 4-5)** on WebCampus
Ch 6: Statement of Cash Flows
App 6A: Ratio Analysis
Ch 7: Revenue Recognition
App 7A: Revenue Recognition Procedures
Ch 8: Cash & Receivables
App 8A: Cash Controls; Review for Exam 3
**EXAM 3 (Chapters 6-8)** on WebCampus
Ch 9: Accounting for Inventories
App 9A: Gross Profit Method
Ch 10: Accounting for Property, Plant, & Equipment
App 10A: Interest-Capitalization Procedures
OFFICIAL COURSE DROP DEADLINE
**THANKSGIVING HOLIDAYS**--NO CLASS
Ch 10: Continued
Ch 11: Intangible Assets
Review for Final Exam
**FINAL EXAM (Chapters 9-11)** on WebCampus
Homework
Self-intro
AIA 1-12, 1-13
Ch 1 quiz
E2-4, 2-8
Ch 2 quiz
P3-2,3-10
Ch 3 quiz
Due
Date
Sep 8
Sep 17
Sep 24
E4-12, P4-2
Ch 4 quiz
E5-4, P5-2
Ch 5 quiz
Oct 8
P6-4, 6-5
Ch 6 quiz
E7-1, 7-7
Ch 7 quiz
E8-5, 26, 27, P8-3
Ch 8 quiz
Oct 27
E9-5, 8, P9-9, 12
Ch 9 quiz
E10-4, 13, 17
Ch 10 quiz
Nov 24
E11-1, 3, P11-6
Ch 11 quiz
Dec 10
Oct 15
Nov 5
Nov 12
Dec 3
Points
5,
5, 5
5
5, 5
5
5,5
5
100
5, 5
5
5, 5
5
100
5, 5
5
5, 5
5
5,5,5,5
5
100
5,5,5,5
5
5, 5, 5
5
5,5,5
5
100
Note: This schedule is tentative. No major changes in the content of this syllabus are anticipated other
than changes necessary to accommodate student/instructor needs. Students will be informed of any
changes made in a timely and clear manner. Check WebCampus daily for updates.
Course Requirements:
3 Exams @ 100 pts
Homework
Project/Presentation
Chapter quizzes
Final exam
Total points
300
130
20
50
100
600
Letter Grade
A 95-100%;
B+ 87-89%;
C+ 77-79%;
D+ 67-69%;
F <60%
Equivalents:
A- 90-94%
B 83-86%; B- 80-82%
C 73-76%; C- 70-72%
D 63-66%; D- 60-62%
Students who successfully complete this course attend all classes, ask questions, and complete all
homework, projects and exams in a timely manner. Remember that the more effort you put into this class,
the more you will get out of the class in terms of knowledge as well as a course grade.