Subject to change at instructor’s discretion
BRANDEIS UNIVERSITY
BUS 113a
INTERMEDIATE ACCOUNTING
Spring 2018
Professor: Robert A. AngellTAs: Baron Lee ()
Email:
Phone: 866.700.0894
Office hours: T/Th (12:30 – 1:30pm)and by appt. Office location: Sachar1D
COURSE DESCRIPTION
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 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 asset acquisition, disposition and impairment.
Instruction will be a combination of lectures, case studies , problem solving, and group presentations. This cours 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 communications skills.
LEARNING GOALS
Upon completion of this course, the students will have a deeper understanding of:
- The environment of financial accounting and reporting and the ethical considerations associated with financial decisions
- 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 accounting constituting Assets, or those accounts populating the left-hand side of the balance sheet
COURSE MATERIALS
Intermediate Accounting, Kieso, Waygandt and Warfieldwith Wiley Plus Code; Wiley 16th ed. 2016 (Hardcover, Loose Leaf or Digital)
(Link:
Casesand Online HBS Online Homeworkmay be purchased directly from Harvard Business School Publishing
(Link:
Please bring a basic function calculator to all class meetings.
Additional Course Materials/Cases are available on LATTE
COURSE REQUIREMENTS AND GRADING POLICY
Course Grading and Exams
Your course grade will be determined based on the following formula:
Homework/Attendance/Participation10%
Case Studies (preparation, participation)15%
Exam 120%
Exam 220%
Final Exam35%
100%
Attendance
Students are expected to attend all classes and be prepared. Please arrive for class on time and remain until the end of class. It is extremely disruptive when students enter late or leave early. I do understand that there are valid reasons for needing to be late or leave early, as such, please notify me prior to class. It is expected that you will come to each class ready to discuss the readings, exercises and problems.
Homework
In an accounting class, keeping up with the assigned homework problems is critical to your success. If you do not take the time to challenge yourself and struggle with the issues in each problem, you will, in all likelihood, perform very poorly on exams. IMPORTANT: ALL HOMEWORK SHOULD BE YOUR WORK AND NOT THE WORK OF OTHERS.
Participation
Students are expected to adequately prepare for each class session and to actively participate in class discussion. Success in this four- credit course is based on the expectation that students will spend a minimum of 9 hours of study time per week in preparation for class (readings,papers, discussion sections, preparation for exams, etc.). 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. All forms of participation should be conducted in a manner that is respectful of fellow students and the professor.
Exams
THERE WILL BE NO MAKE-UP EXAMS, UNLESS THE STUDENT HAS A VALID EXCUSE AND NOTIFIES THE PROFESSOR PRIOR TO MISSING THE EXAM. There will be absolutely no opportunity to assign the weight of a missed exam to another exam. If you miss an exam without a valid excuse, you will receive a grade of zero. Therefore, please make every effort in advance to ensure that you will be in attendance on the exam dates shown on the syllabus. Make-up exams will only be scheduled if you miss an exam for a legitimate reason; you will need to provide evidence for your absence and you must notify me prior to the scheduled exam time. All exams are closed book with no index cards/review sheets of any kind permitted while taking the test. The use of text capable calculators is strictly prohibited.
Academic Integrity
You are expected to be honest in all of your academic work.Please consult Brandeis University Rights and Responsibilities for all policies and procedures related toacademic integrity. Students may be required to submit work to TurnItIn.com software to verifyoriginality. Allegations of alleged academic dishonesty will be forwarded to the Director of AcademicIntegrity. Sanctions for academic dishonesty can include failing grades and/or suspension from theuniversity. Citation and research assistance can be found at LTS - Library guides.
Student Accommodations
If you have a documented disability on record at Brandeis University and require accommodations, please contact Beth Rodgers Kay () and bring it to my attention prior to the second meeting of the class.
CLASS SCHEDULE – Subject to Change at Professor’s Discretion
Date / Day / Topics/Chapters / Reading / Assignments (due the next class)1/11 / Th / Introduction
Review of Bus 6a
Global Connections A / HBS Online Financial Accounting Course:
Welcome to Fin Acnting
Terms and Concepts
The Balance Sheet / HBS Online: Pre test. Exercises: 1.1, 2.1 - 2.3, 3.1 – 3.23
1/16 / T / Review of Bus 6a
Global Connections A / HBS Online Financial Accounting Course:
The Income Statement
Accounting Records
The Statement Cashflows / HBS Online: Exercises 4.1 – 4.11, 5.1 – 5.4, 6.1 – 6.3; Exam 1; Exam 2
1/23 / T / Review of Bus 6a
Global Connections B / HBS Online Financial Accounting Course:
Revenue and Receivables
Inventories and COGS
Dep & Non-current Assets / HBS Online: Exercises: 7.1 – 7.8, 8.1 – 8.8, 9.1 – 9.4,
1/25 / Th / Review of Bus 6a
Global Connections B / HBS Online Financial Accounting Course:
Liabilities&Fincing Costs
Investments & Inv Income
Deferred Taxes&Expenses
Owners Equity / HBS Online: Exercises: 10.1 – 10.8, 11.1 – 11.3, 12.1 – 12.4, 13.1 – 13.2; Exam 3
1/30 / T / Income Statement and Comprehensive Income / Kieso
Chapt 1: Major Challenges in Financial Reporting Only
Chapter 3
Chapter 4 / Kieso: E3-6, E3-18, P3-2, P3-8, P3-11, E4-8, P4-1, P4-7
2/1 / Th / Balance Sheet And Earnings Management / Chapter 5 (including App 5a) / E5-4, 6, 17. P5-5
2/6 / T / Balance Sheet And Earnings Management / Case 1: Read and prepare Microsoft
2/8 / Th / Case 1 Microsoft’s Financial Reporting Strategy
2/13 / T / First Examination (Chpts 1-5)
2/15 / Th / Time Value of Money Concepts / Chapter 6 / P6-2, 4, 6, 9, 11
Case 2: Read and prepare Apple
2/19 to 2/23 / WINTER BREAK
2/27 / T / Case 2 Accounting for iPhone at Apple Inc.
3/1 / Th / Revenue Recognition / Chapter 18 / E18-1, 3, 6, 7, 9, 14, 24, 25, 26, P18-2
3/6 / T / Revenue Recognition / Case 3: Read and prepare Salesforce.com
3/8 / Th / Case 3 Salesforce.com
3/13 / T / Cash and Receivables / Chapter 7 / E7-2, 12, 18,27, P7-5, 8, 11
3/15 / Th / Valuation of Inventories
Cost-Basis / Chapter 8 / P8-2, 4, 11
3/20 / T / Inventories: Additional Valuation Issues / Chapter 9 / E9-3, 7, 12, P9-7, 10, 11
Case 4: Read and prepare Compass Box
3/22 / Th / Case 4 Compass Box (Inventory)
3/27 / T / Acquisition and Disposition of Property, Plant & Equipment (PP&E) / Chapter 10 / E10-13, 16, 22,P10-1, 4, 6, 8
3/29 / Th / Review Chapters 6-10, 18
3/30
to
4/8 / SPRING BREAK
4/10 / T / Second Exam (Chpts 6-10, 18)
4/12 / Th / Depreciation – A Method of Cost Allocation / Chapter 11 / E11-1, 11, 16, 19, P11-1, 7
Case 5: Read and prepare Merrimack Tractors
4/17 / T / Case 5 Merrimack Tractors & Mowers, Inc.: LIFO or FIFO
4/19 / Th / Intangible Assets / Chapter 12 / E12-1, 11, 16, P12-3, 4, 5
Case 6: Read and prepare Delta Cargo
4/24 / T / Case 6 Delta Cargo (PP&E) / Ethical Awareness Memos (Latte)
4/26 / Th / Review
Final Exam – Cumulative (Date and Location TBD )
FINAL EXAM DATE WILL BE ANNOUNCES BY THE REGISTRAR DURING THE SEMESTER – DO NOT MAKE TRAVEL PLANS UNTIL YOU KNOW THE SPECIFIC DATES/TIMES OF YOUR FINAL EXAMS.
EXAM PERIOD IS 4/30 – 5/8