Course: ACCTG 100A Intermediate Accounting I

Course: ACCTG 100A Intermediate Accounting I Farima Fakoor Office Address: Golden Gate University 536 Mission Street, San Francisco, CA 95110 Telephone Number: (415) 442-7229 E-mail: ffakoor@ggu.edu Office Hours: online or via email First Day of class: August 28 th.. 2011 Last Day of class: December 11 th.. 2011 This course is administered in 15 weeks. 1. Course Description This is an intermediate accounting course with an emphasis on current accounting pronouncements and practical accounting applications. Students will read, discuss, and implement the most current accounting requirements as prescribed in FASB statements and other accounting literature. Topics include financial statement presentation, required disclosures, in-depth study of most current assets, time value of money, revenue recognition, and inventories. Communication and financial statement analysis are emphasized through various assignments. This is the first course in a three course series of in-depth accounting course for accounting majors. Intermediate accounting B and C follow it. While the primary goal of some students is to pass CPA examination, this course will focus on accounting education, not the CPA examination. Prerequisites: Accounting 1A Math 20 2. Course Objectives By the end of this course you will: Be able to understand and apply the framework of generally accepted accounting principles and its history as it relates to course content. Describe the mechanics behind financial statement preparation. Develop the skills necessary in using financial information. Develop analytical and communication skills necessary to succeed in the accounting profession. Be able to make judgments based on best evidence, industry practices, and even simple expediency (as many times there is not one right answer). 3. Required Materials

Intermediate Accounting 14 th Edition, Keiso and Weygandt Articles and other readings assigned throughout the course. Required Technical Skills Obviously, you must have access to a computer. You must also be proficient in Word or Excel. (I use Word not WordPerfect.) BookStore: To purchase course books and materials from efollett, GGU's official online bookstore, please see the Important Info section of this course. University Library There are several databases available through the Golden Gate University Library for students to conduct research on various topics. Remote (off campus) access to the databases requires your last name and student ID# (located on the front of your ID card). Be sure to type in ALL 7 digits, including the starting 0. Example: 0123456. You may access the library from GGU s homepage at http://www.ggu.edu. 4. Course Requirements, Procedure & Student Responsibilities The final and the two midterms will be a combination of problems and short, written-out answers in complete sentence/paragraph form. There will be no multiple choice/fill-in-the-blank stuff on the exams! We will go over the results of the two midterms. I see exams as a learning tool. The midterms will be given in the 6th and 10th weeks. The final will be in the 15th week. The first midterm covers "the basics". It will be open books, open notes, and supervised (i.e., proctored---see the supervised exam information below). The second midterm will be open-book, open notes---a take-home exam by any other name. The comprehensive final will be open books, open notes and take home, just like the second midterm. Makeup midterms in this course are very, very rare. Unless you have been hit by an astroid, you take the exams during the prescribed times as follows: Midterm#1 During week 6 ( 10/3/2011 to 10/9/2011) Proctored, Closed Book, Closed Note Midterm #2 During week 10 (10/31/2011 to 11/06/2011) Take home exam Open book, open note Final During week 15 (12/4/2011 to 12/11/2011) Proctored, Closed Book, Closed Note I ask for and demand class participation in all of my courses. Online is no different and participation is actually more important. In a face-to-face classroom, I can look into your eyes or note your body language or facial expression and know whether or not you understand the material. I can't do that online. Class participation is a MUST. If you don't like participation, DO NOT take this class. I will monitor all participation. My plan is to log-on regularly. Homework must be submitted by 11:59pm Monday evening. They must be saved in Drop box folder in Moodle under each session. I will review your homework for completeness and reasonableness of attempt and assign a score of 0-10. I do not return homework, nor do I grade it for accuracy. All homework must be prepared in Excel. No credit will be given to copy and paste work from the solution key. You must compare your work to the solutions that I provide for accuracy. I usually provide the solutions toward the end of the week for your review purposes. You must ask me any questions that you might have in regard to the solutions, so I can clarify them for you. If you don't ask questions, I won't know that you are having problem.

I will log homework submission for each student, noting with a zero that no homework and a 10 for homework turned-in complete and on time. All homework must be prepared in Excel. Homework done in WORD will get zero points, except the first week assignment, since it is all writing and requires no calculation. Attendance and Participation Participation in the discussions is mandatory. I require 3 posts/comments posted in a week. Discussions are the heart of online learning. 1 Post = 3 points 2 Posts = 6 Points 3 Posts = 9 points + 1 Point for full effort= 10 Points 1 point is awarded for the full attempt and posting three comments in a week, which makes it a total of 10 points. Method of Delivery I will provide lectures, go over the assigned homework when the students bring up the questions, post relevant articles, and participate in discussions. Your participation is absolutely crucial. In a successful online course you learn from your classmates almost as much as you learn from your professor. Supervised Exam All CyberCampus (entirely online) courses require at least one supervised exam per term. It is your responsibility to schedule an exam time and location. For more information, go to http://www.ggu.edu/cybercampus/examinformation 5. Grading Policy Grading Policy Comprehensive Final Midterm Examination #1 Midterm Examination #2 Participation Homework Total 36% = 360 points 20% = 200 points 20% = 200 points 12% = 120 points 12% = 120 points 100% = 1000 points 6. Grading Policy 90%-80%-70%-60% breakdown for A, B, C and D categories: Grade A B C D F Skills Contributions are prompt, timely, relevant, self-initiated; remarks are raised freely on all assignments throughout the course; there is no attempt to dominate conversation. Student generally keeps up with the discussion. Needs some prompting to contribute. Participation is spotty; picks and chooses topics to get involved. Demonstrates little initiative. Some participation, makes relevant remarks No participation

Grading Points Percentage 93-100% A 90-92 A- 87-89 B+ 83-86 B 80-82 B- 77-79 C+ 73-76 C 70-72 C- 67-69 D+ 63-66 D 60-62 D and Under 60 F 6. Course Outline Session Session one Session two Topic Intro to Intermediate Accounting Chapter 1 Financial Accounting and Standards Chapter 2 Conceptual framework of Financial Accounting Session three Chapter 3 Accounting Process and Cash vs. Accrual Session four Chapter 4 Income Statement Session five Chapter 5 Balance Sheet Session six Midterm#1: Proctored (Chapters 1 to 5 up to balance sheet ) Session seven Chapter 6 Time Value of Money Session eight Chapter 6 Time Value of Money Continued Session nine Chapter 7 Cash and Receivables Session ten Midterm #2 (Take home you have one week to prepare the exam) Session eleven Chapter 8 Inventory Session twelve Chapter 9 More Inventory! Session thirteen Chapter 18 Revenue Recognition Session fourteen Chapters 5 & 24 Cash Flow Statement Session fifteen Comprehensive Final Exam Proctored.

ACCTG 100A Intermediate Accounting I Learning Objectives Learning Objectives: Week 1 Identify the major financial statements and other means of financial reporting. Explain how accounting assists in the efficient use of scarce resources. Identify some of the challenges facing accounting. Identify the objectives of financial reporting. Explain the need for accounting standards. Identify the major policy-setting bodies and their role in the standards-setting process. Explain the meaning of generally accepted accounting principles. Describe the impact of user groups on the standards-setting process. Articulate issues related to ethics and financial accounting. Understand the basics of the field "Accounting" Learning Objectives: Week 2 Describe the usefulness of a conceptual framework. Describe the FASB's efforts to construct a conceptual framework. Understand the objectives of financial reporting. Identify the qualitative characteristics of accounting information. Define the basic elements of financial 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. Learning Objectives: Week 3 Understand basic accounting terminology Explain double-entry 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 closing entries. Explain how inventory accounts are adjusted at year-end. Differentiate the cash basis of accounting from the accrual basis of accounting. Identify adjusting entries that may be reversed. Learning Objectives: Week 4 Identify the uses and limitations of an income statement. Prepare a single-step income statement. Prepare a multiple-step income statement. Explain how irregular items are reported. Explain intraperiod tax allocation. Explain where earnings per share information is reported. Prepare a statement of retained earnings. Explain how other comprehensive income is reported. Learning Objectives: Week 5 Identify the uses and limitations of a balance sheet. Identify the major classifications of the balance sheet. Prepare a classified balance sheet using the report and account formats. Identify balance sheet information requiring supplemental disclosure.

Identify major disclosure techniques for the balance sheet. Midterm: Week 6 Learning Objectives: Week 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. Learning Objectives: Week 8 Solve future and present value of 1 problems. Solve future value of ordinary and annuity due problems. Solve present value problems related to deferred annuities and bonds. Apply expected cash flows to present value measurement. Learning Objectives: Week 9 Explain what is considered cash and how it is reported on the balance sheet. Discuss issues related to recognition and valuation of accounts and notes receivable. Discuss issues related to disposal of receivables. Explain how accounts receivable is analyzed on the balance sheet and how this analysis is used to forecast future earnings. Midterm #2: Week 10 Learning Objectives: Week 11 Identify major classification of inventory. Distinguish between perpetual and periodic inventory systems. Identify the effects of inventory errors on the financial statements. Understand the items to include as inventory cost. Describe and compare the cost flow assumptions used to account for inventories. Explain the significance and use of a LIFO reserve. Understand the effect of LIFO liquidations. Explain the dollar-value LIFO method. Identify the major advantages and disadvantages of LIFO. Understand why companies select given inventory methods. Learning Objectives: Week 12 Describe and apply the lower-of-cost-or-market rule. Explain when companies value inventories and 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 profit method. Determine ending inventory by applying the retail inventory method. Explain how to report and analyze inventory.

Learning Objectives: Week 13 Describe exceptions to the revenue recognition principle. Apply the percent-of-completion method including the proper accounting for inherent losses on long-term contracts. Explain why the installment method is not GAAP. Discuss revenue recognition issues when right-of-return exists. Discuss revenue recognition issues when additional services are still to be performed after initial product delivery. Discuss management acts that "hype" current period earnings. Learning Objectives: Week 14 Describe the purpose of statement of cash flows. Identify the major classification of cash flows. Dedifferentiate between net income and net cash flows from operating activities. Contrast the direct and indirect methods of calculating net cash flow from operating activities. Determine net cash flows from investing and financing activities. Prepare a statement of cash flows. Identify sources of information for a statement of cash flows. Discuss special problems in preparing a statement of cash flows. Explain the use of a worksheet in preparing a statement of cash flows. Final Examination: Week 15 7. Academic Integrity Students are responsible for adhering to University standards of academic integrity (as set forth in the Golden Gate University Catalog). All students are responsible for understanding what constitutes academic dishonesty which includes but is not limited to both cheating and plagiarism. Students are responsible for understanding what plagiarism is and how to avoid unintentional plagiarism by carefully following accepted scholarly practices- accurately recording sources of materials to be cited, quoted, paraphrased, or summarized, and acknowledging these sources in accepted documentation formats. Plagiarism is the intentional or negligent presentation of another person's idea or product as one's own. It includes but is not limited to: * Copying all or part of another person's written work without proper citation or attribution * Representing as one's own specific phrases, sentences, paragraphs, or the specific substance of another person's work without giving appropriate credit * Paraphrasing another person's original ideas, theories, explanations, examples, models, principles, research issues and strategies, cases, conclusions, etc. without proper attribution

* Representing as one's own another person's computer programs, web content or designs, graphic or artistic works, mathematical or scientific solutions, charts, tables, figures, or illustrations in any medium. All work submitted by students in this class (including but not limited to, comments, postings, charts, examples, problem set solutions, and exam answers) must either be the product of the student's own words, understanding or work, or must have credit attributable to the original source. Students may post content from another source verbatim so long as the original source is given credit. It is generally suggested that a higher learning outcome is achieved by a student who has to synthesize information from different sources and express an understanding in his or her own words. The process of synthesizing and paraphrasing also allows the student the step of self assessing their real understanding of what they have just read. 8. Instructor Bio I hold a Bachelor of Science in Accounting from San Francisco State University, Master of Business Administration in Finance from Golden Gate University, and currently pursuing a Doctoral Degree in Business Administration at Golden Gate University with a research interest in International Financial Reporting Standards. I have worked in the private industry at various companies for 14 years serving at different levels in accounting/finance area. I joined my last corporate employer, in November of 1997 and headed the accounting department. I was part of the group who took the company public in 2003. I started teaching at Golden Gate University as an adjunct professor in 2000 and joined the faculty team as a full time professor in 2006.