GOLDEN GATE UNIVERSITY Acctg 305 Advanced Financial 2012 Summer

Instructor: Ryan S. Oh, CPA, MBA Phone: 415-830-1944 E-Mail: [email protected] Room: #4200 Class Days and Time: Thursday 6:50PM – 9:30PM Office hours: After/Before class (15min – 30min), email, or call.

Materials Needed

Intermediate Accounting, 13th Edition Donald E. Kieso, Northern Illinois University Jerry J. Weygandt, University of Wisconsin, Madison Terry D. Warfield, University of Wisconsin, Madison ISBN 978-0-470-37494-8, ©2010, 1440 pages

Course Description

Acctg 305,a graduate-level course is designed to cover financial accounting theory, concepts, principles, and procedures as applied to the balance sheet, income statement, and the statement of cash flows, and the presentation and interpretation of these financial statements. Especially, the class will discuss, read, and apply the most current accounting pronouncements to income taxes, leases, pensions, stock options, accounting changes, earning per share, and cash flow statements.

Prerequisite: Accounting 100B(second semester intermediate).

Course Objectives

The specific objectives are:  To gain knowledge of financial accounting, including its functions, limitations, and challenges.  To increase and develop an understanding of and a proficiency in using financial statements and footnotes.  To develop intellectual skills by learning to evaluate critically and understand financial accounting, primarily through solving problems and cases that requires the identification of relevant information in a complex situation and the application of judgment in their solution.  To enhance communication skills primarily through written assignments but also in classroom discussions.  To continue the development in students of an analytical professional approach to solving problems, not only in accounting but for any situation.  To develop and improve technical reading of 10K (public company financial statement), accounting pronouncements, and other professional accounting documents.

Format

The course will consist of lectures and class discussions. Participation is expected and encouraged. Due to the condensed schedule, out-of-class preparation (i.e. reading and assignments) will be essential to your success. It is crucial that you keep up with the material, as accounting necessarily cumulative and vocabulary intensive. In addition to, I will distribute relevant articles and any type of writings as needed.

Exams

There will be a midterm and a final exam (Exam #1 & #2). They are both closed-book, closed-notes exams. The final exam will be cumulative, but emphasis will be placed on material covered after the midterm. You are expected to take both exams during the scheduled times. Make-up exams will only be given if you have a university approved excuse and you notify me prior to the start of the exam. Failure to meet either of those conditions will result in a score of 0 for the missed exam.

Grading Grades for the course will be determined as follows:

Exam #1 125 points Exam #2 125 points Individual Project 100 points Homework/Participation/Attendance 50 points

Total 400 points

The grading scale for this class is:

A 93% ‐ 100% A‐ 90% ‐ 92.9% B+ 87% ‐ 89.9% B 83% ‐ 86.9% B‐ 80% ‐ 82.9% C+ 77% ‐ 79.9% C 73% ‐ 76.9% C‐ 70% ‐ 72.9% D+ 67% ‐ 69.9% D 63% ‐ 66.9% D‐ 60% ‐ 62.9% F 0% ‐ 59.9%

Individual Term Project

Background and Purpose: The general objective of this assignment is to begin to integrate the many concepts we have studied and to give an opportunity to apply our intermediate accounting in the real SEC filing called ‘Public Company’. The primary focus is on Acctg 305 topics and how they are reported and applied in the financial statements and footnotes of 10-Q and 10-K. The next focus is on concepts learned in intermediate namely revenue recognition, matching and asset/liability definition.

Required: 1. Choose a public company subject to my approval. Your primary selection criterion should be a. the Company is of interest to you (e.g., you want to find out more about the company) b. your ability to obtain a current annual report(10-K) on the company using the internet, and c. the Company's appearance in the news (e.g. article has appeared recently concerning company in WSJ, Forbes, etc.), or the company is located in Bay Area. 2. Analyze and prepare to report how the Company reports and footnotes related to income taxes (ETR & other items), leases, pensions, stock options, earning per share, dilutive securities, accounting changes, cash flow statement, and other important areas financially & in term of accounting. 3. Discuss any “issues” you find with respect to revenue recognition, matching of expenses with revenues, and “unusual” asset/liability accounts appearing on the balance sheet. 4. In the paper, my expectation is a. Should be professional, analytical, and efficient. (i.e. written on concise, grammatically correct, technically rigorous prose). b. Size: 1.5 space (font size =10 to 11) and fewer than 5 pages (but not limited to) excluding graphs, illustrations, and/or other exhibits. c. Introductory overviews and conclusion should be no more than one paragraph per each. d. Must produce logically organized documents to communicate what you find, results of your research, or issues efficiently. e. Facts and uses of sources you incorporate into the project must be noted, and bibliography must accompany in your paper. It is very crucial that no “filler” be included.”Filler” connotes any material that does not relate to the accounting issues and the company selected. Filler will receive no credit. f. Express and show your own thought process/logic/analytical skill/analysis though out the paper. 5. To turn in (word processing required) at the end of the last class session

Note: University Guidelines – Various print and online resources are available that may aid you in your analysis. You may also use these sources but you must disclose your source fully using footnote in your paper.

Statement of Academic Integrity

Golden Gate University requires that students be honest in their academic work. Dishonesty is viewed as an ethical issue and as a violation of the principles expressed in the University’s Statement of Educational Mission. It defrauds all those who depend upon the integrity of the University, its courses, and its degrees.

Academic dishonesty includes both cheating and plagiarism. Cheating is the act of obtaining or attempting to obtain, or assisting in obtaining credit for academic work through the use of any dishonest, deceptive of fraudulent means. Plagiarism (see above) is the intentional or negligent presentation of another person’s idea or products as one’s own. This includes copying from a student who has completed the class in a prior semester.

Bio I've got a Master of Business Administration degree with accounting concentration at Golden Gate University, and CPA license with about 10 years including public/private/venture companies. In a part of my CPA career journey, after graduation, I started with a local CPA firm where I performed audits for private companies, then moved to Ernst & Young (‘EY’) as a tax manager. My main tasks in EY were concentrated around tax accounting audits & consulting as wells as federal and state compliance for well-known multi-national companies. Currently, I am working for McGrath RentCorp as Corporate Tax Manager to maintain a corporate tax, tax , and reportings.

When I studied in GGU, I’d tutored many students, and I loved to teach someone. It entailed to continue teaching in EY as well. We will have much fun in this semester! I immigrated to U.S. in mid of 1990s and have been married to my wife, Colene for 10 years. We have 2 kids, Judith is 6 and Royce is 4.

Course Calendar/Schedule

Dates Chapter Topic Assignments ** 5/3 Intro/ Ch 19 Intro Read Ch 19 Accounting for Income Taxes 5/10 Ch 19 Accounting for Income Taxes Ch 19 E: 6, 7, 9, P: 1, 5, 5/17 Ch 19 Accounting for Income Taxes Ch 19 E: 14, 15, 19 P: 7, 8, 9 5/24 Ch 21 Accounting for Income Taxes / Leases Read Ch 21, E: 1,2, 8, 9, 12 P: 3, 10(a&c), 5/31 Ch 21 Leases 6/7 Ch 21 Leases 6/14 Ch 20 Pensions and Postretirement Benefits Ch 20 E: 1,2,3, 10 Read Chapter 20 and Pension Worksheet 6/21 Exam #1 6/28 Ch 22 Exam #1 discussion & Accounting E 1,2,7, 8, 9 Changes 7/5 Ch 16 Accounting Changes & Dilutive E:1,3,8,9,16,9 Securities and Earnings per Share P:2,7,8 7/12 Ch 16 Stock Options E: 10, 12,14, P:4 7/19 Ch 16 Stock Options & Earnings per Share 7/26 Ch 23 Cash Flow Statement E11,13 CA23-3 8/2 Ch 23 Cash Flow Statement 8/9 Exam #2 8/16 Term Review exam & Discussion Group Discussion Project Term project wrap-up Turn in term project report; Final review.

** Assignments are subject to change in the class.