School of Accounting Golden Gate University ACCTG 301A Intermediate Accounting I

School of Accounting Golden Gate University ACCTG 301a Intermediate Accounting I

INSTRUCTOR CONTACT INFORMATION

Instructor: Professor Kevin Birtchnell Office: 5014 E-mail: [email protected]

Dates: 8/25-9/25 on every Monday and Wednesday

COURSE CATALOG DESCRIPTION

This course provides an introduction to relevant and current accounting topics, and the underlying accounting standards (FASB Codification). The topics covered will include revenue recognition, including multiple element arrangements, inventory costing and valuation, contingent liabilities, investments, tangible and intangible fixed assets, the fair value concept, debt and equity instruments and business combinations.

Prerequisites

ACCTG 300 - INTRODUCTION TO ACCOUNTING STANDARDS AND ACCOUNTING INFORMATION SYSTEMS

COURSE GOALS & LEARNING OBJECTIVES

Goal 1: Students will understand the fundamental criteria for the recognition of revenue under U.S. GAAP and be able to discuss current topics and issues of revenue recognition.

Goal 2: Students will have a comprehensive understanding of all aspects of the financial accounting for 1. Accounts receivable, 2. Cash, 3. Inventory, 4. Tangible and intangible fixed assets, 5. Impairments, 6. Risks and uncertainties and for 7. Equity and debt instruments.

Goal 3: Students will be able to explain the use of fair value as a relevant concept in accounting for investments and in business combinations. Students will be introduced to the accounting concepts and standards related to business combinations

Goal 4: Students will be able to relate all topics of financial accounting to the FASB accounting codification and other relevant accounting guidance and be able to conduct research and communicate the results of such research in an effective and professional manner.

TEXTBOOK AND REQUIRED MATERIALS TEXTBOOKS • Intermediate Accounting 19 th edition, Stice and Stice, 2014, ISBN: 978-1-133-95791-1

Optional Supplements • Wiley Revenue Recognition: Rules and Scenarios 2

Course Requirements and Student Responsibilities

All online classes require class participation, which is even more important in courses without a traditional structure. I will expect you to participate actively and productively in discussions, and to demonstrate respect, tact, and empathy in communication with others. In grading participation I will look at value added postings, evidence of effective reading of assigned material, and the frequency and quality of participation .

HOMEWORK

Textbook homework is assigned from the chapters we cover. As the name implies, homework is to be completed outside of class. You will typically not be required to turn in textbook homework; solutions will be available on Moodle. This component of the course is intended to be a learning experience rather than a grading device. You should develop your best solution for each of the questions, exercises and problems assigned. Working with fellow students on this homework is fine. If you have questions about how to solve the exercises or problems after looking at the solutions, you should consult with me.

Statement on Academic Integrity

Golden Gate University requires that students be honest in their academic work. Academic dishonesty is viewed as an ethical issue and 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. In today's environment, ethics is an extremely important topic. An accountant's only product is his or her service, which is measured by his or her integrity, credibility and professionalism. These characteristics are not bestowed upon you at graduation, but are developed over time. You must adhere to a high level of ethical behavior in all academic and university activities. Cheating and plagiarism are not permitted . (Cheating is the act of obtaining, attempting to obtain, or assisting to obtain credit for academic work through the use of any dishonest, deceptive or fraudulent means. Plagiarism is the intentional or negligent presentation of another person's ideas or products as one's own.) If a student is determined to have been cheating or committing plagiarism, no points will be awarded for that exam or assignment. In addition, the student will be referred to the Dean of Student Affairs for disciplinary action.

BEING A BUSINESSPERSON

Being a businessperson involves knowledge. One source of knowledge involves knowing what is going on in the business world. Thus, I encourage you to get access to a business publication and to read it on a regular basis. I realize that time is a scarce commodity but even a little bit of reading here and there (easy to do with the various portable devices almost all of us have now) is much better than no reading. I recommend: 1. The Wall Street Journal. It’s THE newspaper of business. 2. Financial Times. It’s equivalent to the international version of Wall Street Journal. 3. Fortune. It comes out every couple of weeks and has longer and more in-depth articles. 4. Forbes 5. The Economist. 6. Bloomberg Business Week 7. Barron’s

GRADING AND ASSIGNMENTS I will total the number of points available for the course and the points you have earned to figure your final grade using the following scale, which also applies to all assignments

Midterm Examination #1 50 Points Comprehensive Final 100 Points Class Quizzes/Class Project/Presentation 20 Points Homework/Attendance/Participation 30 Points

200 Points

A = 90–100%; B = 80–89.99%; C = 70–79.99%; D = 60–69.99%; F = 59.99% or below. I will also assign (=) or (-) to grades.

Instructor Bio

Kevin J. Birtchnell, FCA Fellow Chartered Accountant (FCA) with the Institute of Chartered Accountants in England & Wales Investor and Businessman Professor of Accounting & Business, Golden Gate University

Kevin J. Birtchnell , FCA has over twenty years of international finance and accounting experience with extensive knowledge of executive, corporate and financial management. He has managed both public and private equity and debt financing transactions and has been instrumental in raising over $500M in funds. Kevin has successfully executed a number of key mergers & acquisitions and has played a strategic role in business development, most notably within the technology, food & beverage and the start-up business environment. Kevin has experience in real estate development, asset portfolio management, public and investor relations and has extensive business contacts with clients of high net worth.

Kevin currently offers a range of expert consulting services to various international clients and is the founder and key investor in PEAK 88, an investment company creating diverse investment opportunities in the USA, the Philippines and throughout Asia. Kevin has been appointed as a professor of accounting & business and as a director of an educational initiative at Golden Gate University in San Francisco.

Prior to 2007, Kevin was the Chief Financial Officer of both private, public and non for profit companies including Creative Commons Corporation, Nanomix Corporation, Xenogen Corporation, DIVA Communications, Somatix Therapy Corporation and TKJ Food & Beverage Company

Kevin qualified as a Chartered Accountant with the Institute of Chartered Accountants in England & Wales and trained with Arthur Andersen & Co., in London and with PriceWaterhouseCoopers in San Jose, California. Kevin is a graduate of London University, England and currently resides in San Francisco California.

COURSE ASSIGNMENT SCHEDULE - SUBJECT TO CHANGE AT MY DISCRETION

Reading and homework assignments will be set for each session beforehand.

Session Topics Session 1 Use of FASB Codification Online 8/25 Session 2 Accounts Receivable Cash & Cash Equivalents Online 8/25 Session 3 Introduction to Revenue Recognition Online 8/27 Session 4 Revenue Recognition Multiple Element Arrangements Online Latest guidance and adoption of IFRS convergence 8/27 Session 5 Inventory Basics of Inventory Accounting and Costing 9/1 Session 6 Inventory Common Valuation Issues 9/1 Session 7 Risks and Uncertainties Current liabilities 9/3 Contingent liabilities Session 8 Mid-Term 9/3 Session 9 Fixed Assets and Definite Lived Intangibles 9/8 Session 10 Goodwill and Indefinite Lived Intangibles 9/8 -9/10 Session 11 Impairment of Fixed Assets and Intangibles 9/10 Session 12 Fair Value Concept and Use in Valuing Investments in Equity Instruments 9/15 Session 13 Investments in Debt and Equity Instruments 9/15-9/17 Session14 Intro to Business Combinations Acquisition Method of Business Combinations 9/17-9/22 Session 15 Final Exam 9/24 *Instructor reserves the right to modify assignments and points as needed to achieve course goals and objectives .