UMUC Europe Syllabus for ACCT 311

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UMUC Europe Syllabus for ACCT 311

Common Syllabus for ACCT 311

Course Title:

Intermediate Accounting II

Course Materials:

Intermediate Accounting Edition: 12th Publisher: Wiley Author: Kieso, Weygandt and Warfield ISBN: 0-471-74955-9 Excel Working Papers to Accompany Intermediate Accounting Edition: 12th Publisher: Wiley Author: Kieso, Waygandt and Warfield ISBN: 0-471-74963-X

Course Description:

A continuation of ACCT 310. Students should be cautious about enrolling in ACCT 310 or ACCT 311. These are professional courses requiring intensive study and analysis and are not to be undertaken casually. Students who have not taken ACCT 310 within the last two years may have difficulty. Prerequisite: ACCT 310. A comprehensive analysis of financial accounting topics, including preparation of financial statements and external reports. Students may receive credit for only one of the following courses: ACCT 311 or BMGT 311.

Course Goals/Objectives:

The goal of this course is to help students to develop the ability to apply GAAP to a variety of complex accounting and financial reporting situations. Specifically, the goals of this course are: 1. To provide the student a more extensive study of financial accounting principles and procedures, and their role in the managerial decision-making process, (a) using textbook and other written materials, (b) discussion of accounting topics via Web conferencing, online case study assignments, and (c) World Wide Web research. A major goal of the course is to present financial accounting processes, procedures, terminology, concepts, and case studies. 2. To provide the student a higher level of problem analysis and problem solving ability through the use of CPA-level professional accounting materials. Upon the completion of Intermediate Accounting II, you should be able to: 1. Solve problems by analyzing, calculating, and completing accounting problems covering topics of financial reporting as shown in the goals statement; 2. Apply accounting concepts, principles, and procedures to business, international, and ethical transactions and events, in topic areas through real-world case studies and problem analysis; 3. Interpret corporate financial statements, such as the income statement, statement of retained earnings, the balance sheet, and the cash flow statement by analyzing statement sections and subsections in problems and accounting assignment analysis work; 4. Demonstrate facility with computer applications in accounting by using spreadsheet software in preparing financial statements and other financial reports, and their use in financial problem-solving and management decision making; 5. Conduct computer communications using Web conferencing, an e-mail system, and research procedures using the World Wide Web; 6. Develop effective written communication skills using a computer by completing accounting assignments such as a case study, an accounting research paper on a textbook topic, or instructor-assigned conference/discussion topics using computer software or Web conferencing; 7. Improve understanding of the principles and procedures used by CPAs in their profession, using the research of FASB and AICPA pronouncements/rules from the World Wide Web database; and 8. Evaluate accounting alternatives and their consequences.

Course Introduction:

Intermediate Accounting II is a comprehensive analysis of financial accounting topics involved in preparing financial statements and in external reporting that began in Intermediate Accounting I. The course covers financial accounting standards; the accounting process; and financial statements (the income statement; the statement of retained earnings; the balance sheet; and the statement of cash flows); and how these statements, standards, and processes are affected by such topics as: current and long-term liabilities, pensions and leases, accounting for income taxes, investments, stockholders' equity transactions and calculations (dilutive securities and earnings per share). Also covered are financial statement analyses and full disclosure in financial statements. These topics are studied using problems, written assignments, computer applications, online conferencing, text materials, the syllabus, and the World Wide Web. This is a professional course requiring intensive study and analysis. Students who have not taken ACCT or BMGT 310 within the last two years may have difficulty. This course includes five sections shown in the course schedule. These sections are as follows: Liabilities Stockholders' Equity and Earnings Per Share Investments Pensions and Leases Financial Statements and Analysis WARNING: Intermediate Accounting II is an important part of the CPA examination. For more information about the CPA exam as well as other accounting topics, search the Web using the appropriate keywords, or see the ready-made guide to various Internet resources.

Grading Information and Criteria:

Midterm Exam 45% Final Exam 40% Project (Writing Assignment) 15% A = 90-100% B = 80-89% C = 70-79% D = 60-69% F below 60%

Other Information:

Any other information the instructor wishes to add. This might include: * General expectations of students, such as hours per week students should expect to devote to the class * Turnaround time for faculty to respond to email and return papers * Unique class procedures or activities (such as cooperative learning exercises, panel presentations, case study methods, class journals or learning logs) * Supplemental objectives (such as development of skills like teamwork, writing, oral presentation; integration of knowledge on focus topics) * Optional activities such as study groups

Project Descriptions:

The objective of the writing assignment is to give the course participants an opportunity to complete a more in depth study in a particular subject and to achieve the UMUC objective and desire for a written product for each course. The assignment will be choosing any two of the following Conceptual Case problems appearing in the back of each chapter of the text. These Conceptual Case problems are NOT the cases under the caption, "Using Your Judgment," but the Conceptual Cases preceding the section Using Your Judgment. Select any two from the following eleven listed cases. C13-4, page 703. C14-1, page 762. C15-4, page 805. C16-4, page 852. C17-1, page 910. C18-2, page 991. C24-1, page 1373. C20-3, page 1111. C21-3, page 1181. C22-2, page 1245. C23-1, page 1303. Due date: Class Meeting #14.

Academic Policies:

Cases of plagiarism are handled consistent with current UMUC guidelines. See the UMUC policies at the following URL: http://www.umuc.edu/policy/

Course Schedule:

Note: Students should install the Student Resource CD-ROM that accompanies the textbook as early as possible. After reading each assigned chapter, students are advised to review the corresponding PowerPoint slides and complete the Excel Spreadsheet problems contained in the Student Resources CD-ROM. (The Excel templates will provide check figures for the problems). Meeting 1 Chapter 13, Current Liabilities and Contingencies Assignment: E3, 5, 8, 10, P2, and 11 Meeting 2 Chapter 14; Long Term Liabilities Assignment: E1, 6 Meeting 3 Chapter 15; Long Term Liabilities Assignment: E7, 8, 11, 14, and P6 Meeting 4 Chapter 15, Stockholders' Equity - Contributed Capital Assignment: E1, 4, 5, 6, P1, 6, and 13 Meeting 5 Chapter 16, Dilutive Securities and Earnings Per Share Assignment: E3, 7, 9, 16, 20, and P6 Meeting 6 Chapter 17, Investments Assignment: E5, 6, 14, 15, and P1 Meeting 7 Chapter 19, Accounting for Income Taxes Assignment: E5, 6, 7, 18, 27, and P1 Meeting 8 Review for Midterm Meeting 9 Midterm Exam Chapters 13 - 17 and 20 Meeting 10 Chapter 20, Accounting for Pensions and Postretirement Benefits Assignment: Q17, BE1, 2, 4, 9, 10, E2, 4, 12, and P1 Meeting 11 Chapter 21, Accounting for Leases Assignment: E3, 4, 7, 13, and P3 Meeting 12 Chapter 22, Accounting Changes and Error Analysis Assignment: Q10, BE3, E3, 4, 6, 9, 10, and P6 Meeting 13 Chapter 23 Statement of Cash Flows Assignment: BE 6, 7, E5, 6, 11, 12, and P11 Meeting 14 Chapter 24, Full Disclosure in Financial Reporting Assignment: Q7, 8, E3, 6, P1, and 3 Meeting 15 Review for Final Writing Assignments Due Meeting 16 Final Exam Chapters 20 - 24.