Righting_Wrong

Syllabus ACC/422 Version 6 1 Syllabus School of Business ACC/422 Version 6 Intermediate Financial Accounting II Copyright © 2012, 2010, 2007, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course is the second of the three part series of courses related to intermediate accounting. This section examines the balance sheet in more detail, including intangible assets, current liabilities and contingencies, long-term liabilities, as well as cash and cash equivalents. Interwoven in the presentation of the material is an assortment of ethical dilemmas that encourage discussions about how the accountant should handle specific situations. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents:   University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2010). Intermediate accounting (13th ed.). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website. Week One: Key Current Assets (Cash, Receivables, and Inventory) Details Objectives 1.1 1.2 1.3 1.4 Identify the components of cash and cash equivalents. Calculate the value of net realizable receivables. Compare and contrast inventory cost flow assumptions. Calculate the value of inventories using different cost flow assumptions. Due Points Reading Reading Reading Read Ch. 7 of Intermediate Accounting. Read Ch. 8 of Intermediate Accounting. Review this week’s Electronic Reserve Readings. Syllabus ACC/422 Version 6 2 Participation Participate in class discussion. 4 of 7 Days Friday 2 Discussion Questions Individual Disclosure Analysis Paper Respond to weekly discussion questions. 2 Select a publicly held company to use as the basis for this assignment. Research your selected company and acquire the company’s most recent financial statements using the Internet. Write a 700- to 1,050-word paper analyzing the disclosures contained within the notes to the financial statements related to cash and cash equivalents, receivables, and inventories. Include a list identifying the components of the organization’s cash and cash equivalents. Format your paper consistent with APA guidelines. Monday 13 Week Two: Advanced Concepts in Inventory Valuation and Fixed Assets Details Objectives 2.1 Apply the lower-of-cost-or-market concept to the valuation of inventories. 2.2 Calculate estimated inventory value using the gross profit and retail inventory methods. 2.3 Apply criteria for fixed asset capitalization. 2.4 Calculate the costs of fixed assets. 2.5 Apply the methods of accounting for asset exchange. Read Ch. 9 of Intermediate Accounting. Read Ch. 10 of Intermediate Accounting. Review this week’s Electronic Reserve Readings. Participate in class discussion. 4 of 7 Days Friday Due Points Reading Reading Reading Participation 2 Discussion Questions Individual WileyPLUS Week Two Assignment Respond to weekly discussion questions. 2 Resource: WileyPLUS Complete the following in WileyPLUS:    Exercise E7-2 Exercise E7-8 Exercise E8-5 Monday 4 Syllabus ACC/422 Version 6 3  Learning Team Textbook Assignments 1 Exercise E8-14 Monday 12 Prepare written responses to the following assignments from Ch. 7 & 8 of Intermediate Accounting:   Problem P7-1 Exercise E8-25 Learning Team Weekly Reflection Discuss the objectives for Week One. How do these objectives relate to the importance of the balance sheet to internal users such as management and external users such as investors and creditors' Write a 350- to 500-word summary of your Learning Team’s discussion. Monday 3 Week Three: Cost Allocation and Intangibles Details Objectives 3.1 3.2 3.3 3.4 3.5 3.6 Compare and contrast depreciation methods. Calculate depreciation using various methods. Recognize asset impairments. Measure fixed asset impairments. Calculate the value of intangible assets. Apply criteria for the treatment of research and development costs. Due Points Reading Reading Reading Participation Read Ch. 11 of Intermediate Accounting. Read Ch. 12 of Intermediate Accounting. Review this week’s Electronic Reserve Readings. Participate in class discussion. 4 of 7 Days Friday 2 Discussion Questions Individual WileyPLUS Week Three Assignment Respond to weekly discussion questions. 2 Resource: WileyPLUS Complete the following in WileyPLUS:     Exercise E9-1 Exercise E9-12 Exercise E10-5 Exercise E10-12 Monday 4 Learning Team Textbook Assignments 2 Prepare written responses to the following assignments from Ch. 9 & 10 of Intermediate Accounting: Monday 12 Syllabus ACC/422 Version 6 4   Learning Team Weekly Reflection Problem P9-9 Problem P10-5 Monday 3 Discuss the objectives for Week Two and answer the following two questions:   Why is inventory valuation important to the presentation of the balance sheet and the income statement' What do accountants mean by capitalizing fixed assets and how does that affect the balance sheet and the income statement' Write a 350- to 500-word summary of your Learning Team’s discussion. Week Four: Liabilities Details Objectives 4.1 4.2 4.3 4.4 Determine the components of current liabilities. Calculate various types of current liabilities. Identify the criteria for disclosing contingencies. Determine the value of long-term liabilities. Due Points Reading Reading Reading Participation Read Ch. 13 of Intermediate Accounting. Read Ch. 14 of Intermediate Accounting. Review this week’s Electronic Reserve Readings. Participate in class discussion. 4 of 7 Days Friday 2 Discussion Questions Individual WileyPLUS Week Four Assignment Respond to weekly discussion questions. 2 Resource: WileyPLUS Complete the following in WileyPLUS:     Exercise E11-4 Problem P11-6 Exercise E12-16 Problem P12-1 Monday 4 Learning Team Weekly Reflection Discuss the objectives for Week Three and answer the following questions:   In terms of the balance sheet and the income statement, what is the effect of using different depreciation methods' Why is the reporting of intangible assets often challenging for accountants' Monday 3 Syllabus ACC/422 Version 6 5 Write a 350- to 500-word summary of your Learning Team’s discussion. Week Five: Accounting for Leases Details Objectives 5.1 Differentiate between operating and capital leases. 5.2 Record leases from both the lessor and lessee perspectives. Read Ch. 21 of Intermediate Accounting. Review this week’s Electronic Reserve Readings. Participate in class discussion. 4 of 7 Days Friday Due Points Reading Reading Participation 2 Discussion Questions Individual WileyPLUS Week Five Assignment Respond to weekly discussion questions. 2 Resource: WileyPLUS Complete the following in WileyPLUS:     Exercise E13-13 Problem P13-9 Exercise E14-21 Exercise E21-7 Monday 4 Individual Final Examination Click the link to the Final Examination on the student website available from the end of Week Four through the end of Week Five. Complete the Final Examination. You are allowed one attempt to complete the examination, which is timed and must be completed in 3 hours. Results are auto-graded and sent to your facilitator. Discuss the objectives for Week Four and Five and answer the following questions:  Why are current and long-term liabilities important to internal users such as management and external users such as investors and creditors' Why is it important to disclose contingencies' How do operating and capital leases relate to liabilities' Monday 15 Learning Team Weekly Reflection Monday 3   Write a 350- to 500-word summary of your Learning Team’s discussion. Copyright Syllabus ACC/422 Version 6 6 University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Final exams contain third-party copyrighted materials. Portions are: Copyright © 2012 University of Phoenix. All rights reserved. Copyright © 2012 John Wiley & Sons. All rights reserved. Edited in accordance with University of Phoenix® editorial standards and practices.