Subject to change at instructor’s discretion DRAFT DRAFT DRAFT DRAFT
BRANDEIS UNIVERSITY Fin 213a INTERMEDIATE ACCOUNTING Fall 2017
Professor: Robert A. Angell TAs: TBD Email: [email protected] Phone: 866.700.0894
Office hours: T/Th 1 – 1:30pm and by appt. Office location: Sachar 1D
COURSE DESCRIPTION This course will build on Fin 212a (or equivalent) 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 Subject to change at instructor’s discretion DRAFT DRAFT DRAFT DRAFT
COURSE MATERIALS
Intermediate Accounting, Kieso, Waygandt and Warfield with Wiley Plus Code; Wiley 16th ed. 2016 (Hardcover, Loose Leaf or Digital)
(Link: TBD
Cases and Online HBS Online Homework may be purchased directly from Harvard Business School Publishing
(Link: TBD
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/Participation 10% Case Studies (preparation, participation) 15% Exam 1 20% Exam 2 20% Final Exam 35% 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, Subject to change at instructor’s discretion DRAFT DRAFT DRAFT DRAFT
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 to academic integrity. Students may be required to submit work to TurnItIn.com software to verify originality. Allegations of alleged academic dishonesty will be forwarded to the Director of Academic Integrity. Sanctions for academic dishonesty can include failing grades and/or suspension from the university. 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 ([email protected]) and bring it to my attention prior to the second meeting of the class. Subject to change at instructor’s discretion DRAFT DRAFT DRAFT DRAFT
CLASS SCHEDULE – Subject to Change at Professor’s Discretion
Reading (due Date Day Topics/Chapters Assignments (due the next class) next class) HBS Online Financial Accounting Introduction Course: Welcome to Fin Class Review Basics of Financial Acnting HBS Online: Pre test. Exercises: 1.1, 2.1 - 1 Terms and Concepts Accounting The Balance Sheet 2.3, 3.1 – 3.23, 4.1 – 4.11, 5.1 – 5.4, 6.1 – Global Connections A The Income 6.3; Exam 1; Exam 2 Statement Accounting Records The Statement Cashflows
HBS Online Financial Accounting Course: Revenue and Receivables Review Basics of Financial Inventories and Class Accounting COGS HBS Online: Exercises: 7.1 – 7.8, 8.1 – 8.8, 2 Dep & Non-current Assets 9.1 – 9.4, 10.1 – 10.8, 11.1 – 11.3, 12.1 – Global Connections B Liabilities&Fincing 12.4, 13.1 – 13.2; Exam 3 Costs Investments & Inv Income Deferred Taxes&Expenses Owners Equity
Kieso Income Statement and Chapt 1: Major Kieso: E3-6, E3-18, P3-2, P3-8, P3-11, E4- Comprehensive Income Challenges in Class Financial Reporting 8, P4-1, P4-7, E5-4, 6, 17. P5-5 T Only 3 Balance Sheet And Earnings Chapter 3 Chapter 4 Case 1: Read and prepare Microsoft Management Chapter 5 (including App 5a)
Balance Sheet And Earnings Management Class 4 Case 1 Microsoft’s Financial Reporting Strategy
Class First Examination (Chpts 1-5) 5 Class Time Value of Money Concepts Chapter 6 P6-2, 4, 6, 9, 11 Subject to change at instructor’s discretion DRAFT DRAFT DRAFT DRAFT
6 Case 2: Read and prepare Apple
Case 2 Accounting for iPhone Chapter 18 E18-1, 3, 6, 7, 9, 14, 24, 25, 26, P18-2 Class at Apple Inc. 7 Case 3: Read and prepare Salesforce.com Revenue Recognition
Revenue Recognition Class 8 Case 3 Salesforce.com
E7-2, 12, 18,27, P7-5, 8, 11 Cash and Receivables Chapter 7 Class P8-2, 4, 11 9 Valuation of Inventories Chapter 8 Cost-Basis Case 4: Read and prepare Compass Box
Inventories: Additional Chapter 9 E9-3, 7, 12, P9-7, 10, 11 Valuation Issues Class 10 Case 4 Compass Box (Inventory)
Acquisition and Disposition of Chapter 10 E10-13, 16, 22,P10-1, 4, 6, 8 Property, Plant & Equipment Class (PP&E) 11 Case 5: Read and prepare Merrimack Second Exam (Chpts 6-9, 18) Tractors
Depreciation – A Method of Chapter 11 E11-1, 11, 16, 19, P11-1, 7 Cost Allocation Class Case 5 Merrimack Tractors 12 & Mowers, Inc.: LIFO or Case 6: Read and prepare Delta FIFO Cargo
Intangible Assets Chapter 12 E12-1, 11, 16, P12-3, 4, 5 Class
13 Case 6 Delta Cargo (PP&E)
Final Exam – Cumulative (Date and Location TBD )