CourseOutline_Acct531

CourseOutline_Acct531 - [fl HUMBER The Business School...

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Unformatted text preview: [fl HUMBER The Business School COURSE OUTLINE ACADEMIC YEAR 2010 - 2011 It is the student’s responsibility to retain course outlines for possible future use in support of applications for transfer credit to another educational institution. PROGRAM(S): Accounting: 3 Year Diploma COURSE NAME: Intermediate Accounting 2 COURSE NUMBER: ACCT 531 CREDIT VALUE: Six (6) PREREQUISITE(S): ACCT 331 Intermediate Accounting I REQUIRED TEXT(S): Intermediate Accounting 9‘h Canadian Edition, Volume 2 Keiso, Weygandt, Warfield, Young & Wiecek Wiley & Sons ISBN 978-0-470-16101-2 APPROVED BY: Director, Continuing Education DATE COURSE DESCRIPTION This course is a continuation of Intermediate Accounting 1, placing emphasis on accounting theory and conducting an in depth study of the analysis of special problems that arise in applying these concepts to Financial Accounting. June 9, ZOIO nf LEARNING OUTCOMES Upon completion of this course, the successfiil student will be able to: l. 10. ll. 12. l3. l4. Understand and explain the nature of current liabilities and contingencies and classify them accurately. Recognize, record, and provide proper disclosure for a variety of current liabilities and contingencies. Understand and explain the nature of long term liabilities and classify them accurately. Recognize, record and provide proper disclosure for bonds payable: their initial issue, amortization, and retirement, with understanding of the time value of money concepts of PV and FV as required. Recognize, record and provide proper disclosure for notes payable: their initial issue, amortization, and repayment, with understanding of the time value of money concepts of PV and FV as required. Understand and explain the nature of future income tax assets and liabilities. Recognize, record and provide proper disclosure for future income tax assets and liabilities that arise as a result of a variety of situations. Understand and explain the nature of various types of leases, operating and capital in nature, from the point of view of both the lessee and the lessor. Recognize, record and provide proper disclosure for several types of leases with some common contract terms included. Understand and explain the nature of company pensions and classify them accurately as defined contribution or defined benefit. Recognize, record, and provide proper disclosure for defined contribution and defined benefit pension plans, with supplemental records kept by the plan trustee. Define the basic elements of shareholders equity: share capital, contributed surplus, retained eamings and accumulated other comprehensive income and classify them accurately. Recognize, record and provide proper disclosure for stock rights, stock warrants, convertible stocks, convertible bonds and executive stock options. Understand and explain simple versus complex capital structures, calculate basic and fully diluted earnings per share and provide proper disclosure of earnings per share. 15. Understand and explain the nature of changes in accounting policy and accounting errors and their effect on prior period results. 16. Recognize, record and provide proper disclosure for adjustments to retained earning for a variety of changes in accounting policy and errors affecting prior periods. 17. Understand and explain the growing emphasis on disclosure and analysis of cash flows in relation to the limitations in accrual basis financial statements. 18. Calculate and provide proper disclosure for operating, investing and financing cash flows and related non-cash investing and financing activities. 19. Understand GAAP for private enterprises and IAS for publicly accountable enterprises as they relate to all of the above topics. ESSENTIAL EMPLOYABILITY SKILLS Communication Skills communicate clearly, concisely and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience. respond to written, spoken, or visual messages in a manner that ensures effective communication. Numeracy Skills execute mathematical operations accurately critical thinking and problem solving skills apply a systematic approach to solve problems. use a variety of thinking skills to anticipate and solve problems. Information Management Skills locate, select, organize, and document information using appropriate technology and information systems. analyze, evaluate, and apply relevant information from a variety of sources. Interpersonal Skills show respect for the diverse opinions, values, belief systems, and contributions of others. interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals. Personal Skills manage the use of time and other resources to complete projects. take responsibility for one’s own actions, decisions, and consequences. COURSE CONTENT ASSIGNMENTS UNITS AND TOPICS RESOURCES AND EVALUATION Statement of Cash Flows * Include Cash Flows Chapter 22 coverae in each of the above chaters covered Mid Term Test (30%) Comprehensive Final Exam 50%) STUDENT EVALUATION Final evaluation of the student's standing will be based on the following graded components: A minimum final grade of 60% is required for course completion. A minimum final grade of 70% or higher is required for CGA exemption. A minimum final grade of 80% or higher is required for Honours standing. Marking distribution is as follows: The Marking distribution is as follows: Quizzes and/or presentations 20% Mid Term Test 30 Comprehensive Final _5_0 100% TEST POLICY Students are expected to write scheduled tests/exams (TEST) on dates announced in class and/or on the course website. In the event a TEST is missed, the student is required to contact their professor either by phone or email on the course website within 24 hours. If a student misses a TEST due to proven extenuating circumstances (e.g. doctor’s note, funeral home note, etc.), the marks assigned for the missed TEST may be moved, subject to the discretion of the professor, to the weighting of the final exam. Only one TEST per semester may qualify for a makeup opportunity. If a final exam is missed, the qualified makeup opportunity will be determined by the professor. Makeup TEST and/or “extra” assignments are NOT granted for poor midterm test or final exam performance or for remedial “2"d chance” opportunities to raise marks. Any additional requirements will be advised by your professor. DELIVERY FORMAT The course objectives will be met through any or all of the following: lectures, class discussion, role plays, cases, films, experiential exercises and independent learning sessions. In order to best achieve the learning outcomes of the course and to simulate a business setting, classrooms, with a boardroom layout will be used where possible. There will be a strong emphasis on independent learning and group work, therefore attendance, punctuality and participation are REQUIRED for the successful completion of this course. POLICIES AND PROCEDURES It is the responsibility of each student to be knowledgeable of the Humber Institute of Technology & Advanced Learning Academic Regulations. For information refer to the College’s website: http://wwwhumber.ca/content/academic-regulations PLAGIARISM" AND ACADEMIC DISHONESTY Humber wants to ensure the integrity of every academic activity on campus. Humber students are responsible for abiding by the policy on student academic misconduct. Behaviour that constitutes academic misconduct includes, and is not limited to, plagiarism, misrepresentation of personal performance and damage to the integrity of scholarly exchange. If a student is found guilty of academic misconduct penalties may be assessed as described in the academic regulations: http://wwwhumber.ca/content/academic-regulations *Plagiarism: misrepresenting someone else ’s words, thoughts, or ideas as one 's own, whether deliberately or as a result of carelessness, when submitting academic work, whether graded or otherwise. This course has undergone ethical review by the Business School at Humber Institute of Technology and Advanced Learning. Information gathered for the purposes of this course does not involve collection of data from human subjects who are not enrolled in the course. PRIOR LEARNING ASSESSMENT AND RECOGNITION QPLARI Credits may be granted in recognition of prior learning. To obtain an application form, visit the Registrar’s office. In the event of special circumstances (e.g. time constraints due to inclement weather, sickness, college closure, technologz/equipment problems or changes, etc.) the order, content and/or evaluation may change. ADDENDUM TEST CONDUCT Students are expected to know and follow Humber academic regulations. Consult your student handbook, the college website and/or your course outline. Additionally, students can expect the following conditions: (1) Once a TEST is started, students will not be allowed to leave for any reason unless they are ready to hand in their test paper. Only one student at a time will be allowed a washroom break. (2) Your professor has the right to move you before or during the TEST at their discretion. (3) Only financial calculators, without covers (i.e. BAII Plus or comparable) and loose writing utensils will be permitted at your desk. (4) Cell phones must be turned off and packed out of sight and away from your workstation. Translation and other assorted devices are also not permitted. (5) Other items also not permitted at your desk/workstation include: Baseball caps, water bottle labels, pencil cases, dictionaries or other resource materials (6) The only person you communicate with (for any reason) during the TEST is your professor. (7) All questions are expected to be completed in good form as required by the course. (8) Other requirements as announced by your professor. ...
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This note was uploaded on 01/01/2012 for the course ACCT 531 taught by Professor Janicecharko during the Winter '11 term at Humber.

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CourseOutline_Acct531 - [fl HUMBER The Business School...

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