SAN FRANCISCO STATE UNIVERSITY ACCOUNTING 800(Intermediate Financial Accounting I) Spring 2011 INSTRUCTOR: Dr. Su-Jane Hsieh OFFICE: SCI 303 PHONE: 338-2738 CLASS HOURS: OFFICE HOURS M 9:00-10:30 800.01 W 18:30-21:15 W 13:00-14:30 15:30-17:00(DTC) COURSE DESCRIPTION: Accounting 800 is the first of two courses in intermediate financial accounting. The primary emphasis of the course is directed to (a) the basic concepts and theories underlying contemporary external financial reporting and (b) alternative rules and principles used to measure and analyze financial data with respect to corporate business organizations. In general, the course is concerned more with the production of financial information for external users than the use of financial information by internal users. The topics to be covered include basic financial accounting theory, valuation of current and noncurrent assets, revenue recognition alternatives, current liabilities and accounting changes and error analysis. ------------------------------------------------------------ PREREQUISITES: BUS 780 with a grade of B- or better (or approved equivalent). REQUIRED TEXT: Intermediate Accounting(13 th Warfield. edition, Wiley) by Kieso, Weygandt and HOMEWORK,EXAMINATIONS,CLASS POLICY, EVALUATION AND CASE PROJECT: I. Homework The problems assigned for each class session are to be attempted by the student before coming to class. My duties as a teacher of accounting are to help you, the student, overcome any difficulties you might have with the material assigned, do some (not all) of the problems assigned, and expand upon the material with examples from the business world. Homework problems and other assignments must be done in order for the student to gain the necessary background to go on to other courses and work.
II. Examinations Three examinations will be given throughout the semester. Examinations I, II and III are scheduled for February 23, April 6 and May 18, respectively. Examinations will include a combination of multiple-choice, problems, and essays. III. Class Policy, Evaluation and Department Plagiarism Policy Classes are generally conducted using a lecture and problemsolving format. Class notes are available on ilearn. No make-ups will be given for any exams and an incomplete grade cannot be used to substitute for any other grades. Class participation is an integral part of the learning process in this course and hence is included in your final grade. Students are expected to prepare for the day's material including both reading assignments and problems assigned before coming to the class. For important course related dates (i.e., last day to add/drop classes or request CR/NC grading option), please check University Calendar available on SFSU website at www.sfsu.edu. Your final grade will be based on the following: Possible Points ---------------- Exam I Exam II Exam III Written Assignments 50 points Case 50 Points Class Participation 30 points ----------------- Total 430 points Department of Accounting Plagiarism Policy. Plagiarism is a form of cheating or fraud; it occurs when a student misrepresents the work of another as his or her own. Plagiarism may consist of using the ideas, sentences, paragraphs, or the whole text of another without appropriate acknowledgment, but it also includes employing or allowing another person to write or substantially alter work that a student then submits as his or her own. Any assignment found to be plagiarized will be given a failing grade. All instances of plagiarism in the Department of Accounting will be reported to the Department Chair, and may be reported to the University Judicial Affairs Officer for further action. 2
IV. Written Assignments and Case Two written assignments and a case on revenue recognition for multiple-element arrangements will be assigned during the semester. The information regarding these assignments will be available on ilearn. Each student is expected to turn in the assignments on the due dates. Each assignment should be typed and double-spaced. The assignments will be graded on technical merit and professionalism (including presentation, grammar, spelling, etc.). V. HOMWORK ASSIGNMENT Class Date Chapter Suggested Homework 1 1/26 1. Financial Accounting and Accounting Standards -Objectives of Financial Reporting -Environment of Financial Reporting -Development of Accounting Standards -FASB Codification -International Accounting Standards 2 2/2 2.Conceptual framework Underlying Financial Reporting 3.The Accounting Information Systems -The Accounting Equation -The Accounting Cycle -Basic Financial Statements 3 2/9 4.The Income statement and Related Information -Income Statement -Reporting Irregular Items -Comprehensive Income -Earnings Quality 4 2/16 5. Balance Sheet and Statement of Cash Flows -Usefulness of the Balance Sheet -Limitations of the Balance Sheet -Classification in the Balance CA1-1,CA1-2, CA1-10,CA1-4, CA1-6,CA1-8. E2-1,E2-4, E2-5,E2-7. E3-8,E3-11,E3-17, P3-7.P3-8,P3-9, P3-10. E4-5,E4-7, E4-15,P4-4, P4-5,P4-7, C4-4,C4-5, C4-8. E5-6,E5-12, P5-2,P5-5, CA5-3. 5 2/23 Exam I 3
6 3/2 18. Revenue Recognition -Revenue Recognition Criteria, -Revenue Recognition before Delivery: -Percentage of Completion Method versus Completed Contract Method -Revenue Recognition after Delivery 7 3/9 7. Cash and Receivables -Cash and Cash Equivalents -Accounts Receivable -Notes Receivable -Financing with Receivables 8 3/16 8. Valuation of Inventories -Perpetual Inventory System -Periodic Inventory System -Cost flow assumptions -Cost Included in Inventory -Lower of Cost or Market 9 3/23 9. Inventories: Additional Valuation Issues -Inventory Estimation, -The Gross Profit Method, -The Retail Inventory Method E18-7,E18-8, E18-9,E18-10, P18-3,P18-6, P18-7,P18-15, P18-16. E7-2,E7-5, E7-17,E7-26, P7-2,P7-3,P7-4, P7-5,P7-6,P7-11. E8-1,E8-9,E8-13, E8-14,E8-21, E8-25,P8-1, P8-5, P8-6, P8-7,P8-11, CA8-11. E9-3,E9-4, E9-13,E9-18, E9-22,P9-2, P9-4, P9-7. 10 4/6 Exam II Spring Recess (3/28-4/1) 11 4/13 10. Acquisition and Disposition of Property, Plant and Equipment -Valuation at Acquisition -Cost to be Capitalized, -Lump-Sum Purchases, -Noncash Acquisitions, -Disposition and Exchange 12 4/20 11. Depreciation, Impairments, and and Depletion -Depreciation of Operational assets -Special Depreciation Methods -Changes in Estimates, -Changes in Depreciation Method, -Comparison with Tax Depreci. -Impairments E10-1,E10-4, E10-5,E10-14, E10-20,E10-21, E10-24,P10-2, P10-5,P10-7, P10-8,P10-9 P10-11,CA10-6, CA10-7. E11-4,E11-7, E11-13,E11-15, E11-6,E11-18, P11-1,P11-8, P11-9,P11-10, P11-12. 4
13 4/27 12. Intangible assets -cost to be capitalized, -amortization. 13.Current Liabilities and Contingencies 6. Time Value of Money Concepts P12-3,P12-4, P12-5. P13-5,P13-6, P13-11,P13-4. 14 15 5/4 5/11 22. Accounting Changes and Error Analysis -Change in Accounting Principle -Change in Estimate -Change in Reporting Entity -Correction of Accounting Errors E22-1,E22-2, E22-3,E22-6, P22-1,P22-2, P22-9. 5