Brandeis University

BUS 113a - Intermediate Financial AccountingI (draft)

Wednesdays 6:30 pm to 9:20pm

Spring 2015

Instructor: Ryan R. Brenneman

Office: Lemberg 1D

Office hours: Before and after class and by appointment

Phone: 617 910 7555

Email: ;

Teaching Assistant: TBA

Prerequisite: BUS 6a

Learning Goals/Course Objectives:

This course will build on BUS 6a (Financial Accounting) by examining in detail the accounting theory and concepts which form the background for the external financial reporting. Students will expand their understanding of accounting theory and evaluate the impact of alternative accounting procedures on financial statements.Topics covered will include revenue recognition, accounting changes/errors, inventory measurement and valuation, long-lived assets acquisition, disposition and impairment.

Upon completion of this course, the students will have a deeper understanding of:

  • The environment of financial accounting and reporting, the conceptual framework and how accounting principles and rules are created.
  • The income statement and the balance sheet, earnings management and revenue recognition
  • Time value of money concept and tools to conduct financial analysis of financial statements
  • The individual accounts constituting Assets, or those accounts populating the left-hand side of the balance sheet

Method of Instruction:

Instruction will be a combination of lectures, case studies, problem solving and group presentations. This course requires a significant amount of out-of-class work as well as working in groups to prepare for presentations. Problem solving and case studies are very important in this class since it develops students’ critical thinking and communication skills.

Course Materials:

Intermediate Accounting, Kieso, Waygandt and Warfield; Wiley15th ed. 2013

The text is available in hard cover, loose leaf and electronic formats (Coursesmart.com)

Cases may be purchased directly from Harvard Business School Publishing (link

Additional Materials/Cases: Available on LATTE

Course Requirements:

Performance in the course will be evaluated based upon the following:

HOMEWORK/PARTICIPATION10%

EXAM 120%

EXAM 220%

FINAL EXAM35%

GROUP PROJECT15% (HBS Case Study for 3-5 person group)

TOTAL 100%

Class Participation: Students are expected to be adequately prepared for each class session and to actively participate in class discussion. Class participation involves being regularly engaged in the discussion/lecture and making a positive contribution by asking thoughtful questions, sharing relevant experiences, requesting clarification and making comments.

Case Studies: Students will be assigned to groups of 3 – 5. Each group will be assigned a case study to prepare and deliver a presentation in class of approximately 30 minutes.

Exams/Quizzes: All exams are closed book with no index cards/review sheets of any kind permitted while taking the test. Basic algebraic calculators are allowed but wireless devices (cell phones etc.) may not be used. Make-up exams will only be scheduled if you miss an exam for a legitimate reason (e.g., illness). You will need to provide evidence for your absence. Otherwise, you will receive a grade of zero for that exam. In the event that you unable to take an exam for a legitimate reason, you must notify me prior to the scheduled time, unless circumstances prove that to be impossible.

Disabilities: If you are a student with a documented disability on record at Brandeis University and wish to have a reasonable accommodation made for you in the class, please see me immediately.

Academic Integrity: The instructor enforces all University rules, especially those regarding academic honesty and integrity. Note: there is a zero tolerance level in this area. Plagiarism is cheating. The use of another’s material without permission and without recognition is cheating. This applies to textbooks, solution manual, study guides, a friend’s assignment, past assignments, internet resources or any other material irrespective of the source.

You are expected to be familiar with and to follow the University’s policies on academic integrity: . Instances of alleged dishonesty will be forwarded to the Office of Campus Life for possible referral to the Student Judicial System. Potential sanctions include failure in the course and suspension from the University.

Tentative Schedule

DateTopicAssignment

You should skip all IFRS-related material

1/14Chapter 1Introduction, Environment CA1-3, 6, 15, 17

of Financial Accounting and Reporting

Chapter 2Conceptual FrameworkE2-3, 4, 6 CA 2-6

1/21Chapter 3Accounting Information SystemE3-6,18,P3-2, 8, 11

Disclosures (incl. App. 3A, skip 3B and C)

2/4Chapter 4Income Statement and E4-8; P4-1, 7; CA4-2, 6

Comprehensive Income

2/11Chapter 5Balance Sheet and Earnings E5-4, 6, 17; P5-5

Management (incl. App. 5A, skip 5B)

2/25Chapter 6 Time Value of Money ConceptsP6-2, 4, 6, 9, 11

First Examination (Chaps. 1-5)

3/4Chapter18 Revenue RecognitionE18-1, 9, 14, 24, 26; P18-2

Case 1 Groupon and the SEC

3/11Chapter 7Cash and Receivables (skip App. 7A and B)E7-2, 12, 18, 27; P7-5, 8, 11

Case 2 Salesforce.com

3/18Chapter8 Valuation of Inventories: Cost-BasisP8-2, 4, 11; TJ International case

Case 3 Compass Box (Inventory)(p. 468)

Chapter 9 Inventories: Additional ValuationE9-3, 7, 12; P9-7, 10, 11

Issues(incl. App. 9A)

3/25Chapter 10Acquisition and Disposition ofE10-13, 16, 22; P10-1, 4, 6, 8

Property, Plant & EquipmentBarrick Gold case (p. 523)

Case 4 Delta Cargo (PP&E)

4/1Chapter 10P, P & E; Second Exam

(Chaps. 6-10, 18)

4/15Chapter 11Depreciation – A Method of CostE11-1, 11, 16, 19; P11-1, 7

Allocation (skip App. 11A)

Case 5 Biosensors International Group (Impairment)

4/22Chapter 12InvestmentsE12-1, 11, 16; P12-3,4, 5

Case 6Talbots Inc. (Accounting for Goodwill)

DURING EXAM WEEK:Final Exam: Cumulative (65%) + 11-12 (35%)