BUS330B Intermediate Accounting Syllabus

Subject to revision

Contact information

  • Instructor: Elizabeth Stanny, PhD
  • Email (best way to contact me): stanny@sonoma.edu
  • Online office hours on Zoom:
    • M-F beginning at 1 PM. I will stay on until all questions are answered.
    • Other times available by appointment (to schedule, please email me).
    • To attend office hours on Zoom click here
      • If joining with an app, the meeting room is 904-996-6788.

Prerequisites

  • BUS 330A
  • Proficiency in spreadsheet software

Course format

  • On-line on the course site: stanny.moodle.school. If you are enrolled in the course, I will send you login information.
    • I am solely responsible for this site.
      • It is compliant with the GDPR, the new European Union data privacy regulations, which are stricter than those in the US.
      • If you have any questions about the site, please ask me.
      • Videos, notes, quizzes and other materials are posted on the site.
    • As you watch the videos you should work along and replicate the spreadsheets. You will use the spreadsheets in your quizzes.

Course materials

  • Textbook (recommended)
    • Spiceland, J. David. Intermediate Accounting, 9th Edition. McGraw-Hill Higher Education, ISBN 9781259722660. You do not need a code.
  • Spreadsheet Software
    • I recommend LibreOffice, but you can use any spreadsheet program. I use LibreOffice in the videos. It is open source (free) and is compatible with Microsoft Excel. Any skills you learn in LibreOffice Calc will be transferable to Microsoft Office (Excel).
    • Download LibreOffice here.

Learning objectives

  • Current liabilities and contingencies
    • Define liabilities
    • Account for the issuance and interest for notes payable
    • Account for accrued liabilities
    • Explain accounting for contingencies
  • Bonds and long-term notes
    • Account for issuance and interest using the effective interest and the straight-line methods
    • Describe disclosures for long-term debt
    • Record the early extinguishment of debt and conversion to equity
    • Discuss the option to report liabilities at fair values
  • Leases
    • Determine whether an arrangement contains a lease
    • Separate lease and non-lease components of a contact
    • Account for a lease from the perspectives of the lessee and of the lessor
  • Income taxes
    • Account for temporary differences between financial and tax statements
    • Explain why permanent differences have no effect on financial statements
    • Describe when and how a valuation allowance is needed for deferred tax assets
    • Account for changes in the tax rates
    • Discuss the presentation and disclosure of deferred tax amounts
    • Account for uncertainty in income tax amounts
  • Pensions and post-retirement benefits
    • Discuss differences between defined contribution and defined benefit pension plans
    • Define differences in pension obligations: vested benefit obligation (VBO), the accumulated benefit obligation (ABO), and the projected benefit obligation (PBO)
    • Describe the events that affect the the PBO
    • Define the funded status of pension plans and how it is reported
    • Compute and record pension expense
    • Discuss the post-retirement benefits obligation
    • Describe components of the post-retirement benefit expense
  • Shareholders’ equity
    • Describe shareholders’ equity accounts
    • Record the issuance of stock
    • Account for share buybacks
    • Account for different types of dividends
  • Share-based compensation and earnings per share
    • Account for restricted stock plans, stock options and employee stock plans
    • Account for basic and diluted EPS
  • Accounting changes and error corrections
    • Discuss three types of accounting changes
    • Describe what constitute a change in reporting entity
    • Correct reporting errors
  • The statement of cash flows
    • Explain the usefulness of the statement of cash flows
    • Compute cash flows from operating activities using the direct and indirect methods
    • Compute cash flows from investing and financing activities using the direct direct method
    • Identify transactions that are classified as financing activities
    • Prepare a statement of cash flows
  • Investments
    • Demonstrate how to identify and account for investments classified as held-to-maturity, trading, available-for-sale and the equity method
    • Explain what constitutes significant influence by the investor over the operating and financial policies of the investee
    • Explain how electing the fair value option affects accounting for investments
    • Account for impairment of equity method securities
    • Discuss the fair value option
  • For each topic discuss the primary differences between U.S. GAAP and IFRS
  • Analyze public companies annual reports (10-Ks)
  • Research topics using the ASC (Accounting Standards Codification)

Schedule

Date Topic Quiz closes at Textbook
May 29 1: Current Liabilities and Contingencies 1 8 PM Ch 13
May 30 2: Bonds and Long-Term Notes 2 8 PM Ch 14
Jun 1 3: Leases 3 8 PM Ch 15
Jun 4 4: Accounting for Income Taxes 4 8 PM Ch 16
Jun 6 5: Pensions and Other Post-retirement Benefits 5 8 PM Ch 17
Jun 8 Exam (Topics 1-5) See time options under Exams
Jun 11 6: Accounting Changes and Error Corrections 6 8 PM Ch 18
Jun 13 7: Shareholders’ Equity 7 8 PM Ch 19
Jun 15 8: Share-Based Compensation and Earnings Per Share 8 8 PM Ch 20
Jun 18 9: The Statement of Cash Flows 9 8 PM Ch 21
Jun 20 10: Investments 10 8 PM Ch 12
Jun 21 Exam (Topics 6-10) See time options under Exams

Grading

There are 1000 possible points in the course. Your grade will be determined by your total points:

Grade Points
A 950
A- 900
B+ 870
B 830
B- 800
C+ 770
C 730
C- 700
D+ 670
D 600

Quizzes 500 points

  • Questions will be short-answer, numerical and multiple-choice.
  • You can attempt each quiz twice and you will receive the highest grade scored.
  • Late quizzes will not be accepted. Please do not ask.
  • There will be multiple versions of quizzes. You can work with others on the quizzes, but you must enter and understand the answers yourself. When you submit your answers you are acknowledging that you can explain your answers.

Exams 500 points

  • Exams are proctored by your computer video using Zoom. Make sure you have access to a PC or Mac that meets the requirements posted here. You will take the exam with your computer’s webcam on.
  • On the exam days you will have the option to take the exam during one of three 100 minute slots
    • 10 - 11:40 AM
    • 1 - 2:40 PM
    • 6 - 7:40 PM
  • Specify your time preference on the course site: stanny.moodle.school,
  • The exams are open-book and open-note.
  • You should use the spreadsheets that you have created for the quizzes.

Policies

  • You must adhere to SSU’s Cheating and Plagiarism policy. Academic dishonesty (e.g., cheating, plagiarism, etc.) will not be tolerated and will result in a zero grade (i.e., no points) on the quiz or exam and, possibly, a failing grade in the course.
  • Please be advised that the on-line software allows me to track every click you make on the course site. I know whether, when and where you attempt quizzes, access notes, etc.
  • There are no opportunities for points not listed above. Please do not ask.
  • Disability Services for Students (DSS)
    • Academic Accommodation: If you are a student with a disability, and think you may need academic accommodations, please contact Disability Services for Students (DSS), located in Salazar Hall, Room 1049, Voice: (707) 664-2677, TTY/TDD: (707) 664-2958, as early as possible in order to avoid a delay in receiving accommodation services. Use of DSS services, including testing accommodations, requires prior authorization by DSS in compliance with university policies and procedures.