Intermed Financial Acc I
Intermed Financial Acc I ACG 3103
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This 8 page Class Notes was uploaded by Leatha Dickens on Wednesday September 23, 2015. The Class Notes belongs to ACG 3103 at University of South Florida taught by Maria Caban in Fall. Since its upload, it has received 62 views. For similar materials see /class/212656/acg-3103-university-of-south-florida in Accounting at University of South Florida.
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Date Created: 09/23/15
UNIVERSITY OF I SOUTH FLORIDA SARASOTA MANATEE ACG 3103 INTERMEDIATE FINANCIAL ACCOUNTING I Section 591 Tuesdays 600 845 pm Room SMC TBA Spring 2009 Instructor Dr Maria T Caban Garcia Office C 225 Office Hours Tuesdays 450 550 pm or by appointment Phone 941 359 4654 Fax 941 359 4367 Email cabansarusfedu Prereguisite ACG 2021 or ACG 201 1 and ACG 2071 with a grade of C or better Course Description Theory and methodology underlying financial reporting including the FASB s conceptual framework the accounting process financial statements accounting changes present value applications and current assets Course Obiectives The course will provide the students with a thorough understanding of 1 Financial accounting theory and concepts related to income measurement financial reporting and cash flows for business enterprises 2 The methodology employed by professional accountants in applying Generally Accepted Accounting Principles GAAP to business transactions and events Course Learning Outcomes At the conclusion of the course the student should be able to Identify and perform the steps in the accounting cycle Identify the sources of generally accepted accounting principles GAAP and the major policy setting bodies Understand the FASB conceptual framework and the objectives of financial reporting Identify the qualitative characteristics basic assumptions concepts principles and constraints of accounting information Understand and identify the elements and major components of the income statement the statement of retained earnings the balance sheet and the cash flows statement QJ FDN ACG 3103 lsyllabus lspring 2009MTCG O Prepare the main nancial statements single and multiple step income statement retained earnings statement classi ed balance sheet and the cash ows statement indirect method 7 Understand and identify the reporting of irregular items intraperiod tax allocation and EPS in the income statement 8 Solve present and future value accounting and nonaccounting problems using appropriate interest tables 9 Identify and report cash and cash related items 10 Learn how to measure and report receivables 11Calculate and evaluate ending inventory cost and cost of goods sold using different cost ow assumptions under periodic and perpetual inventory systems 12 Learn how to apply the lower of cost or market rule in inventory valuation Topical Outline 1 Basic Accounting Concepts Chapter 3 2 The Environment ofAccounting Chapter 1 3 Basic Accounting Theory Chapter 2 4 Financial Statements Chapters 4 and 5 5 Time Value of Money Chapter 6 6 Cash and Receivables Chapter 7 7 Inventories Chapters 8 and 9 The impact ofinternational reporting issues will be discussed throughout the course as they relate to the various topical areas Reguired Materials Kieso DE JE Weygandt and TD Warfield Intermediate Accounting updated 12th ed 2007 John V ley amp Sons Inc New Jersey Suggested Materials Kieso DW Study Guide Intermediate Accounting 12th ed Computer spreadsheet software Microsoft Excel Course Website The course has a website under the Blackboard platform site in the USF Portal The website will serve as a communication channel and will give you access to class announcements syllabus notes links grades and other class information You can access the course web site at httpsmyusfedu You will need a USF NetlD and password in orderto have access If you do not already have a USF NetlD you can obtain one by going to httpsunaacompusfedu clicking on Activate your NetlD and lling out a few simple forms A USF ID Card is required for USF NetlD activation A06 3103 syabus spring 2009MTCG Class Organization The class will generally consist of a combination of lecture discussion and practical applications The student is expected to read each chapter before class and to be fully prepared to answer and discuss questions on readings or assignments The objective is to create an environment where the student is actively involved in the learning process Assigned material is generally due on the class session where the related material will be discussed We will review some ofthe assignments during class Please bring your textbooks and necessary materials eg calculator pencils to class Given this is an upper level undergraduate course students are expected to display high standards of professionalism Therefore students are expected to attend all classes to be punctual and to submit all required work on time Attendance Policy Attendance to this class is compulsory and it is essential to your learning process Frequent absences will affect your performance in the course A student having excessive unexcused absences more than four during the semester will eta reduction of one letter rade in the final rade Attending all classes means staying in class until the class is dismissed by the instructor at the end ofthe class period Extraordinary events including hospitalization of yourself or an immediate family member extreme weather conditions etc maybe excused and not counted as an absence provided you submit adequate independent documentation of such event prepared by a third party involved in your absence Please be aware that even though many class resources are available in Blackboard they are meant to supplement not to substitute the class If you have to miss a class for any valid reason you should inform the instructor in advance by voicemail or email fthere is homework due you can either send it with someone else or email it to the instructor prior to the class in which it is due Make sure that the le opens properly No late homework will be accepted You are also responsible for all the material given in class on that day including any materials distributed in class and class announcements Religious Holidays Policy lfstudents anticipate the necessity of being absent from class due to a major religious observance they must provide written notice ofthe dates to the instructor email is okay by the second class meeting Of cial electronic communications means your USF assigned email address and the course web site in the USF portal httpsmyusfedu Students do not have permission to sell class notes or to tape class lectures A06 3103 syabus spring 2009MTCG A solutions manual for the text is available in the instructor39s of ce for use after the student has tried to solve assiqned exercises or problems Some Solution Manual answers will also be available at the course website During class time please turn off all computers cell phones beepers pagers and other electronic devices Failure to follow this policy is considered disruptive of the academic process and will be treated according to USF policy Always be on time to class Please be courteous with your fellow classmates and your instructor Thank you Grading Policy The grade will be based on daily inclass activities 30 points graded homework 10 points research case 10 points and tests 310 for a total of 360 points Daily inClass Activities includes announced quizzes 20 points and random or unannounced quizzes or additional assignments 10 points Graded homework in the Tentative Assignment Schedule appears in bold and includes 2 Problems P and 2 Concepts for Analysis CA Each has a value of 5 points You only need to turn in 12 P and 12 CA Additional research case to be answered by researching an electronic database 10 points Additional instructions will be provided after the third week of classes The computational graded problems must be prepared using the excel templates available underthe Assignments section in Blackboard In order to avoid last minute technical problems with your computer please download the templates and save them in your computer ASAP Graded research and conceptual cases must be prepared using word Graded homework is due in class at the beginning of the class period 600 PM on the indicated due dates If you want early feedback you can submit them electronically prior to the due date Late homework will not be accepted under any circumstances Tests will consist of a combination of conceptual and computational questions in the form of ll the blanks multiple choice truefalse essay questions short exercises or problems Tests will reflect the material included in the chapters class notes and assignments Each test except the final will have a value of 100 points The final will have a comprehensive portion and its total value will be between 105 and 110 points A06 3103 syabus spring 2009MTCG Extra Credit No extra credit projects will be given at any time Calculators that do not store formulas or text may be used during exams However in orderto obtain partial credit on problems all supporting computations must be shown The student must notify in advance at least 24 hours if he she cannot be present for an examination due to a valid reason The valid reason is to be determined by the instructor lf valid the makeup exam must be arranged prior to the date ofthe regular exam OthenNise the student receives a score Of in the missed exam The instructor will review quizzes and exams with the class after they are graded They will be retained at the instructor s of ce for a minimum oftwo weeks into the next semester After that they will be stored and destroyed according to USF policy The grade will be based on the standard curve as follows A 90 X 360 324 B 80 X 360 288 C 70 X 360 252 D 60 X 360 216 F lt 216 Plus and Minus Grades Policy The quotplusminusquot grading system will not be used in this course Students who withdraw from the course before the drop date will receive a quotWquot grade For the spring 2009 semester that date is March 14I 2009 An quotIquot grade will be awarded only when a small portion of the work is incomplete and the student is earning a passing grade but serious personal problems prevent him or her from completing the course ACG 3103 may not be taken on an SU basis Grade forgiveness is limited to three USF courses with no more than one repeat per course Accounting majors can use the forgiveness policy only once in upper level accounting courses Grade Disclosure It is a violation of FERPA to give grades out over the phone via email or by posting them Violations of FERPA can result in a lawsuit loss of federal funding dismissal ACG 3103 syabus spring 2009MTCG USF Policv on Academic Dishonestv and Dieron of Academic Process The University39s policy on academic dishonesty and disruption ofthe academic process are clearly set forth in the USF Undergraduate Catalog httpwwwugsusfedupdfcat080908acapolpdf Students attending USF are awarded degrees in recognition of successful completion of coursework in their chosen elds of study Each individual is expected to earn hisher degree on the basis of personal effort Consequently any form of cheating on examinations or plagiarism on assigned papers constitutes unacceptable deceit and dishonesty Disruption ofthe classroom or teaching environment is also unacceptable This cannot be tolerated in the University community and will be punishable according to the seriousness of the offense in conformity with this rule Punishment for academic dishonesty may result in an automatic quotFquot or quotFFquot in the course or action that may result in suspension or expulsion Students Disability Resources The University recognizes and values students with disabilities The faculty and administration strive to ensure that students with disabilities participate in all aspects of university life Academic accommodations are arranged through the Of ce of Student Disability Services Student Disability Services SDS makes the nal determination as to the type of need and the type of assistance that can be rendered for students with disabilities Each student is responsible for self identifying and applying for accommodations and services at this of ce The process of applying for services is described in detail in the SDS website wwwsdsusfedu Locationphone SVC 1133 Voice 813 9744309 TDD 813 9745651 Sarasota Campus Disabilities and Diversity 8350 North Tamiami Trail SMC C130 Sarasota FL 342432197 941 3594714 Pat Lakey Coordinator plakeysarusfedu A06 3103 lsyllabus lspring 2009MTCG Tentative Assignment Schedule BE Brief Exercise E Exercise P Problem CA Concepts for Analysis FRP Financial Reporting Problem RC Research Case and IRC International Reporting Case Date Cl pterTopic Homework January 1 Financial Accounting and Pages 126 6 Accounting Standards Q15 Q12 Q17 Q20 Q23 Q28Q30 CA12 CA111 CA112 and CA114 IRC 3 The Accounting Information Pages 61124 including Appendices System A B and C Q24 Q78 Q1415 Q18 Q21 BE 15 7 8 and 1114 P36 13 Quiz 1 3 The Accounting Information E33 E312 E316 E318 E319 System E320 E322 and E323 P31 P35 P37 and P310 FRP 2 Conceptual Framework Pages 2760 Underlying Financial Statements Q4 Q56 Q8 10 Q17 Q19 E21 E23 E25 E26 E27 and E28 CA25 FRP IRC RC 20 2 Conceptual Framework E21 E23 E25 E26 E27 and Underlying Financial Statements E28 CA25 FRP IRC RC Excel P32 due 4Income Statement and Related Pages 125168 Information Q57 Q10 Q1214 Q23 Q30 and Q3435 27 4Income Statement and Related E43 E45 E49 E413 E414 and Information E416 February Exam 1 Chapters 13 3 4Income Statement and Related P46 and P47 Information CA4 1 and CA4 3 FRP IRC RC2 10 5 Balance Sheet and Statement of Pages 169250 including Cash Flows Appendices A and B Q1 Q7 Q2122 Q25 and Q28E51 E52 E55 E56 E58 and E512 P52 P55 CA41 and Excel P43 due 17 Quiz 2 5 Balance Sheet and Statement of Cash Flows E513 E515 and E518 P57 FRP IRC A06 3103 lsyllabus lspring 2009MTCG Q1 Q34 Q9 E6 1 E6 2 E6 3 E6 6 E6 10 E6 17 FRP P6 3 and P6 8 A Q1 Q3 Q6 Q8 Q13 Q15 P71 3 E712 E714 E715 E716 E718 E72O and E725 P72 P76 and P79 CA 74 FRP Basis Approach E8 7 E8 9 and E8 1 0 Issues A Q34 Q8 9 7 Accounting Society Meetings for the spring 2009 semester are scheduled on January 20 March 5 and April 24 A06 3103 syabus spring 2009MTCG
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