The University of Tennessee at Martin

College of Business and Public Affairs

Department of Accounting, Economics and Finance

Course Number:

Accounting 301

Course Title:

Intermediate Accounting

Term, Level & Credit:

Spring 2003, Undergraduate, 3 Credit Hours

Course Description:

A professional level study of financial accounting theory and practice, designed to prepare students for careers in all areas of accounting. Beginning with a review of the conceptual framework and the accounting cycle, the course provides a detailed examination of the recording and reporting issues encountered by financial accounting professionals. Prereq: Grade of “C” or better in ACCT 202 and CSCI 201.

Course Text & Required Materials:

Kieso, Donald E., Jerry J. Weygandt and Terry D. Warfield, Intermediate Accounting, 10th Edition, John Wiley and Sons, Inc. 2001. Working Papers for Intermediate Accounting.

Course Objectives:

(1) To further develop the student’s ability to process accounting data through to the end result of preparing in acceptable form the appropriate financial statements. (2) To further develop in each student an appreciation of the usefulness and limitations of properly prepared financial statements. (3) To develop the student’s analytical ability required in evaluating the strengths and weaknesses of both present and proposed accounting alternatives relative to principles, procedures and concepts.

Student Outcomes:

By taking this course the student should be able-

(1) to process accounting data and prepare appropriate financial statements. (2) to understand the usefulness and limitations of properly prepared financial statements. (3) to evaluate the strengths and weaknesses of present and proposed accounting standards and concepts.

Course Requirements:

(1) Students are responsible for reading each chapter and preparing assignments from the text. All assignments are due on the date specified by the course instructor. (2.) Students are expected to attend class on a regular basis and participate in class discussion. They are encouraged to not miss scheduled tests unless seriously ill or for an unavoidable emergency. Make-up tests will be given only for justifiable reasons. (3) Failure to complete the computer/internet problems in Accounting 301 will result in a grade of F regardless of other class performance

Attendance Policy:

You are strongly encouraged to not miss classes. One (1) point will be deducted from your total grade points for each missed class after the first three misses. You are expected to be in class and seated on time.

Grades:

Your grade will be determined by your combined grade point total from Major Tests, the Final Exam and Homework Problems. Test dates are indicated on your course schedule sheet. Each test including the Final counts 100 points. Homework counts 50 points.

The University of Tennessee at Martin

College of Business and Public Affairs

Department of Accounting, Economics and Finance

Course Schedule Sheet

Course Number, Section, Semester:

Accounting 301, 01, Spring 2003.

Instructor:

Dr. Ronald W. Kilgore

Office Location:

Business Administration Building, Room 138

Office Telephone:

731-587-7240, Accounting Office 731-587-7226

Email Address:

Office Hours:

Posted

Homework Instructions:

The homework column lists those problems that must be turned in for grading. Homework should be turned in as completed. Chapter homework is required to be turned in by test time on the day of the test covering chapter material. Any unsatisfactory homework may be reworked but must be turned in before the next test. All homework will be due by 3:00 p.m. Tuesday April 29, 2003. It is the student’s responsibility to contact my office concerning any discrepancies. Do not wait until the end of the semester to reconcile any differences. The burden of proof concerning completed homework assignments falls upon the student. Do not throw away any homework until you are sure it has been graded and properly recorded.

Publishers web site:

www.wiley.com/college/kieso

Any student eligible for and requesting academic accommodations due to a disability is requested to provide a letter of accommodation from P.A.C.E. or Student Academic Support Center within the first two weeks of the semester."

The grade distribution for the course is: 90 -100% = A, 80 - 89% = B, 70 - 79% = C, 60 - 69 =D, and 00 -59% = F or computed as follows:

405 - 450 = A

360 – 404 = B

315 – 359 = C

270 – 314 = D

0 - 269 = F

Day / Topic Covered / Reading

Assignment

/ Class
Problems / Homework
Problems
1 / Introduction and the environment of financial accounting / Ch.1 Pps. 1 – 6
2 / Parties involved in standard setting and issues in financial reporting / Ch.1 Pps. 7 - 19 / C1-13 / Q2*Q6*C1-6C1-11
C1-12
3 / The conceptual framework and the first level: Basic objectives / Ch.2 Pps.34 - 40 / E2-2*
4 / The second level: Fundamental concepts and the third level: Recognition and measurement concepts / Ch.2 Pps.41 - 51 / E2-1*E2-6 / E2-3*E2-5*
5 / Accounting information systems and the accounting cycle / Ch.3 Pps.69 - 90 / P3-1 / E3-1*E3-5
6 / Using a worksheet / Ch.3 Pps.91 - 96 / P3-6*P3-8 / E3-17
7 /
Test 1
/
Homework Due
8 / The income statement and format / Ch.4 Pps.130-137 / P4-2*P4-3 / E4-5
9 / Reporting irregular items and special reporting issues / Ch.4 Pps. 138-150 / P4-4*P4-8 / E4-6*E4-14, Research Case 1
10 / Usefulness and limitations of the balance sheet and balance sheet classifications / Ch.5 Pps. 188-200 / P5-2*P5-4 / E5-2
11 / Balance sheet formats and techniques of disclosure / Ch.5 Pps. 201-205 / P5-5 / E5-4*E5-8
12 / Basic time value concepts and single sum problems / Ch.6 Pps. 270-281 / P6-1*P6-11 / E6-2*E6-4
13 / Annuities / Ch.6 Pps. 282-291 / P6-15*P6-16 / E6-9*E6-12
14 /
Test 2
/ Homework Due
15 / Cash management and control and the reporting of cash / Ch.7 Pps. 236-340 / P7-2 / E7-1*E7-6
16 / Receivables / Ch.7 Pps. 241-348 / P7-4*P7-7 / E7-12
17 / Continued / Ch. 7 Pps.349-361 / P7-11*P7-14 / E7-17
18 / Inventory costs, classification and control / Ch. 8 Pps.394-404 / P8-2 / E8-1
19 / Cost flow assumptions and special issues / Ch. 8 Pps.405-422 / P8-4*P8-10 / E8-2*E8-15
20 / Lower of cost of market and valuation bases / Ch. 9 Pps.450-458 / P9-2 / E9-2
21 / The gross profit and retail inventory methods / Ch. 9 Pps.460-463 / P9-5*P9-8 / E9-4*E9-7
22 / Continued / Ch. 9 Pps.464-470 / P9-12 / E9-14*E9-18*E9-23
23 /
Test 3
/ Homework Due
24 / Acquisition and valuation of property, plant and equipment / Ch.10 Pps.501-509 / P10-2 / E10-1
25 / Cost subsequent to acquisition and disposition of plant assets / Ch.10 Pps. 510-517 / P10-4*P10-5 / E10-3
26 / Continued / Ch.10 Pps. 518-523 / P10-8*P10-11 / E10-9*E10-14*E10-17
E10-23
27 / Depreciation and impairments of property, plant and equipment / Ch.11 Pps. 550-564 / P11-2 / E11-4*E11-6
28 / Depletion and presentations of fixed assets / Ch.11 Pps. 565-570 / P11-3*P11-6 / E11-9*E11-19*E11-24
29 / Intangible asset issues and specifically identifiable intangibles / Ch. 12 Pps. 600-606 / P12-1* P12-3 / E12-1*E12-4
30 / Goodwill, impairment and research and development costs / Ch. 12 Pps. 607-621 / P12-5-P12-6 / E12-10*E12-14