Intermediate Accounting I
Intermediate Accounting I ACCT 3010
Dixie State College
Popular in Course
Popular in Accounting
This 0 page Class Notes was uploaded by Ms. Floy Bauch on Monday November 2, 2015. The Class Notes belongs to ACCT 3010 at Dixie State College taught by Staff in Fall. Since its upload, it has received 12 views. For similar materials see /class/234340/acct-3010-dixie-state-college in Accounting at Dixie State College.
Reviews for Intermediate Accounting I
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/02/15
Instructor ACCOUNTING 3010 INTERMEDIATE ACCOUNTING I SYLLABUS SUMMER 2008 Robert C Huddleston PhD Of ce 435 652 7740 Cell 435 619 4867 E mail huddlestondixieedu Of ce Location and Hours A Udvar Hazy Building Room 345 T amp R 400 PM 500 PM TEXT AND WORKING PAPERS Intermediate Accounting 12 11 Edition Kieso B COURSE DESCRIPTION 0 ACCT 3010 Intermediate Accounting I 3 Credits Designed for students majoring in business who would like an emphasis in Accounting Course covers the conceptual framework of accounting reviews the accounting process reviews accounting statements including the income statement balance sheet and statement of cash ows and includes an indepth coverage of revenue recognition accounting changes and error correction and financial statement analysis Prerequisites Acct 2020 and advanced standing in the business baccalaureate program 3 lecture hours per week COURSE OBJECTIVES Chapter 1 Financial A quot and A quot Standards Identify the major nancial statements and other means of nancial reporting Explain how accounting assists in the ef cient use of scarce resources Describe some of the challenges facing accounting Identify the objectives of nancial reporting Explain the need for accounting standards Identify the major policysetting bodies and their role in the standardsetting process Explain the meaning of generally accepted accounting principles Describe the impact of user groups on the standardsetting process Understand issues related to ethics and nancial accounting pW QMrbE Nf Chapter 2 C Framework Underlvimr Financial A 1 Describe the usefulness of a conceptual framework 2 Describe the FASB s efforts to construct a conceptual framework 3 Understand the objectives of nancial reporting 908994 Identify the qualitative characteristics of accounting information De ne the basic elements of nancial statements Describe the basic assumptions of accounting Explain the application of the basic principles of accounting Describe the impact that constraints have on reporting accounting information Chapter 3 The Accounting Information System 908994P N Understand basic accounting terminology Explain doubleentry rules Identify steps in the accounting cycle Record transactions in journals post to ledger accounts and prepare a trial balance Explain the reasons for preparing adjusting entries Prepare nancial statements from the adjusted trial balance Prepare closing entries Explain how to adjust inventory accounts at yearend Chapter 4 Income Statement and Related Information 908994P N Understand the uses and limitations of an income statement Prepare a singlestep income statement Prepare a multiplestep income statement Explain how to report irregular items Explain intraperiod tax allocation Identify where to report earnings per share information Prepare a retained earnings statement Explain how to report other comprehensive income Chapter 5 Balance Sheet and Statement of Cash Flows 1 Explain the uses and limitations of a balance sheet 509 gtIQM WN Identify the major classi cations of the balance sheet Prepare a classi ed balance sheet using the report and account formats Determine which balance sheet information requires supplemental disclosure Describe the major disclosure techniques for the balance sheet Indicate the purpose of the statement of cash ows Identify the content of the statement of cash ows Prepare a statement of cash ows Understand the usefulness of the statement of cash ows Chapter 6 Accounting and the Time Value of Money 1 2 3 4 5 6 7 Identify accounting topics where the time value of money is relevant Distinguish between simple and compound interest Use appropriate compound interest tables Identify variables fundamental to solving interest problems Solve future and present value of 1 problems Solve future value of ordinary and annuity due problems Solve present value of ordinary and annuity due problems 8 Solve present value problems related to deferred annuities and bonds 9 Apply expected cash ows to present value measurement Chapter 7 Cash and Receivables 1 Identify items considered as cash Indicate how to report cash and related items De ne receivables and identify the different types of receivables Explain accounting issues related to recognition of accounts receivable Explain accounting issues related to valuation of accounts receivable Explain accounting issues related to recognition of notes receivable Explain accounting issues related to valuation of notes receivable Explain accounting issues related to disposition of accounts and notes receivable Describe how to report and analyze receivables pW QMrbE N Chapter 8 Valuation of Inventories A Cost Basis Approach 1 Identify major classi cations of inventory 2 Distinguish between perpetual and periodic inventory systems 3 Identify the effects of inventory errors and the nancial statements 4 Understand the items to include as inventory cost 5 Describe and compare the cost ow assumptions used to account for inventories 6 Explain the signi cance and use ofa LIFO reserve 7 Understand the effect of LIFO liquidations 8 Explain the dollarvalue LIFO method 9 Identify the major advantages and disadvantages of LIFO 10 Understand why companies select given inventory methods Chapter 9 Inventories Additional Valuation Issues 1 Describe and apply the lowerofcostormarket rule Explain when companies value inventories at net realizable value Explain when companies use the relative sales value method to value inventories Discuss accounting issues related to purchase commitments Determine ending inventory by applying the gross pro t method Determine ending inventory by applying the retail inventory method Explain how to report and analyze inventory 8995 Chapter 10 A 39 quot39 and Iquot quot39 0f PrODeItV Plant and F 39 Describe property plant and equipment Identify the costs to include in initial valuation of property plant and equipment Describe the accounting problems associated with selfconstructed assets Describe the accounting problems associated with interest capitalization Understand accounting issues related to acquiring and valuing plant assets Describe the accounting treatment for costs subsequent to acquisition Describe the accounting treatment for the disposal of property plant and equipment QMerN U Chapter 11 Depreciation Impairments and Depletion QMerN Explain the concept of depreciation Identify the factors involved in the depreciation process Compare activity straightline and decreasingcharge methods of depreciation Explain special depreciation methods Explain the accounting issues related to asset impairment Explain the accounting procedures for depletion of natural resources Explain how to report and analyze property plant equipment and natural resources Chapter 12 Intangible Assets 1 Describe the characteristics of intangible assets 2 Identify the costs to include in the initial valuation of intangible assets 3 Explain the procedure for amortizing intangible assets 4 Describe the types of intangible assets 5 Explain the conceptual issues related to goodwill 6 7 8 9 1 Describe the accounting procedures for recording goodwill Explain the accounting issues related to intangibleasset impairments Identify the conceptual issues related to research and development costs Describe the accounting for research and development and similar costs 0 Indicate the presentation of intangible assets and related items Chapter 13 Current Liabilities and Contingencies 9959 Describe the nature type and valuation of current liabilities Explain the classi cation issues of shortterm debt expected to be re nanced Identify types of employee related liabilities Identify the criteria used to account for and disclose gain and loss contingencies Explain the accounting for different types of loss contingencies Indicate how to present and analyze liabilities and contingencies Chapter 14 Long Term Liabilities 1 Describe the formal procedures associated with issuing longterm debt 90899 9 Identify various types of bond issues Describe the accounting valuation for bonds at date of issuance Apply the methods of bond discount and premium amortization Describe the accounting for the extinguishment of debt Explain the accounting for longterm notes payable Explain the reporting of offbalancesheet nancing arrangements Indicate how to present and analyze longterm debt CLASS HOURS Accounting 3010 meets two days a week Tuesday amp Thursday from 500 pm 720 pm E EXAMINATIONS Six examinations are given in Intermediate Accounting 3010 All exams will be taken in the classroom Individuals taking a late exam will be graded on a more dif th grading scheme see Grading Section Any form of cheating may result in an F grade for the course F HOMEWORK Homework will be collected randomly at the beginning of class on ve occasions No homework will be accepted after 505 pm G GRADIN 1 EXAMS 70 2 HOMEWORK 20 3 ATTENDANCE M TOTAL 100 A 930 1000 C 730 769 A 900 929 C 700 729 B 870 899 D 670 699 B 830 869 D 630 669 B 800 829 D 600 629 C 770 799 F BELOW 60 Homework will not be graded on its accuracy It will be graded on the effort made If you could do all the homework correctly you would not need to the course The grading scheme is as follow Strong eff01t 95 Moderate eff01t 85 Little or no effort 50 Attendance will be graded as follows 0 to 1 absences 95 2 absences 85 3 or more 50 Late Exam Grading Scheme 95 100 90 94 85 89 80 84 79 or bellow 605539 PLEASE NOTE If you are a student with a documented physical or mental impairment that will substantially limit a major life activity please contact the Disability Resource Center on the main campus The Center Coordinator and staff will assist you in analyzing your eligibility for services If deemed eligible reasonable accommodations that are appropriate will be assigned If you have any questions concerning this process please contact the Center at 652 7516 we are located in the Student Service Center Room 201 of the Edith Whitehead Building REBEL SYLLABUS STATEMENT Imp01tant class and college information will be sent to your Rebelmail email account This information includes your DSC bill f39mancial aid scholarship notices noti cation of dropped classes reminders of important dates and events and other information critical to your success in this class and DSC All DSC students are automatically assigned a Rebelmail email account If you don t know your user name and password go to wwwdixieedu and select Rebelmail for complete instructions You will be held responsible for information sent to your Rebelmail email so please check it often
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'