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AIM 6332.501 SPRING 2006 ISSUES IN FINANCIAL REPORTING

AIM 6332.501 SPRING 2006 ISSUES IN FINANCIAL REPORTING ISSUES IN FINANCIAL REPORTING AIM 6332.501 SPRING 2006

ISSUES IN FINANCIAL REPORTING

AIM 6332.501

SPRING 2006

Class Meeting Wednesday 7:00 p.m.- 9:45 p.m., SOM 2.904

Instructor Sharmila McDonald, CPA – SOM 4.224

Office Hours: Wednesday 5:45 p.m. – 6:45 p.m. or by appointment

Email: sharmila.mcdonald@utdallas.edu Phone: (214) 228-3611

COURSE OBJECTIVES:

This course is a continuation of topics in external financial reporting, including: issues related to the measurement and reporting of current liabilities and contingencies, bonds, leases, deferred taxes, pensions, stock-based compensation plans, shareholders equity, earnings per share, accounting changes, and cash flows. Current generally accepted accounting principles for financial reporting are analyzed as is their effect on the presentation of financial results by corporations and other entities. Students who have taken AIM 3332 (Intermediate Accounting II) or its equivalent may not take AIM 6332.

REQUIRED COURSE MATERIAL AND CAPABILITIES:

Intermediate Accounting, Third Edition, Volume 2, by Spiceland, Sepe & Tomassini (Internet access: http://highered.mcgraw-hill.com/sites/0073123137/student_view0/index.html)

It is expected that students will have a reasonable understanding of financial accounting and a working knowledge of Microsoft Excel. The prerequisite for this course is AIM 6330.

COURSE REQUIREMENTS & GRADING:

Advance preparation and participation in class discussions is an important part of the learning experience in this course.

Attendance Policy

There is a direct relationship between attendance at every class and successful completion of the course. Announcements may be made in class, and students are responsible for these, irrespective of attendance or nonattendance at the time of announcement.

Reading Assignments and Problems

Text chapter reading assignments and homework problems are indicated on the attached schedule. Supplemental materials may be provided as well. Chapter reading assignments should be completed in a timely manner. All efforts will be put forward to cover each chapter in a detailed manner. However, because of the quantity of material to be covered, an in depth study of each chapter is impossible. It is the responsibility of the student to cover any portions not fully explained in class unless otherwise advised. Work as many of the homework problems as you can. Your problems will not be graded. However, to receive maximum benefit from class, homework assignments should be completed soon after the class.

Examinations

There will be three regular closed book examinations, each covering the chapters as indicated in the course outline. Each test is a combination of multiple choice questions, problems, and essays. Please bring a Scantron form 882-E at each examination. No scratch paper is allowed in the examination.

Makeup exams are given only for excused absences, which may be given for verifiable medical or family emergencies. The student must contact me regarding the excused absence prior to the exam. Written documentation must be provided to qualify for an excused absence. Students who do not show up for an exam without making arrangements with me prior to the exam will receive a zero, and I cannot guarantee that the level of difficulty of the makeup exam will be comparable to the exam given at the scheduled time.

Grading

Scale (minimum values): A = 270, B = 240, C = 210, etc.

Examination 1

100

Examination 2

100

Examination 3

100

Total points

300

AIM 6332.501 SPRING 2006 ISSUES IN FINANCIAL REPORTING

ACADEMIC ETHICS AND AMERICANS WITH DISABILITIES ACT COMPLIANCE:

All students are expected to behave in accordance with the academic integrity policy of The University of Texas at Dallas. A student’s personal integrity will be essential to successfully completing this course. It is the policy of The University of Texas at Dallas to provide reasonable accommodations for qualified individuals who are students with disabilities. This University will adhere to all applicable Federal, State, and local laws, regulations and guidelines with respect to providing reasonable accommodations as required to afford equal educational opportunity. It is the student’s responsibility to contact the faculty member and/or the Service for Students with Disabilities in a timely manner to arrange for appropriate accommodations.

COURSE OUTLINE:

AIM 6332.501 SPRING 2006 ISSUES IN FINANCIAL REPORTING

DATE

CHAPTER TOPIC(S)

HOMEWORK AND ASSIGNMENT(S)

1/11/06

Course Introduction Chapter 13- Current Liabilities & Contingencies

E13-3, E13-7, E13-9, E13-10, E13-14, E13-16, E13-17, P13-4

1/18/06

Chapter 14- Bonds (Skip Part B)

E14-4, E14-5, E14-7, E14-13, E14-14, E14-17, E14-18, E14-19, P14-4

1/25/06

Chapter 15- Leases (Skip Part B)

E15-1, E15-3, E15-4, E15-5, E15-6, E15-8, E15-9, E15-10, E15-25, E15-26

2/1/06

EXAMINATION 1

 

2/8/06

Chapter 16- Accounting for Income Taxes

E16-4, E16-7, E16-9, E16-11, E16-23, E16-24, E16-26, P16-7

2/15/06

Chapter 17- Pensions (Skip Part D)

E17-1, E17-2, E17-3, E17-4, E17-5, E17-8, E17-10, E17-19 (Omit #4), P17-2, P17-6,

P17-9

2/22/06

Chapter 18- Employee Benefit Plans (Skip Part A)

E18-12, E18-14 (Omit #5), E18-15, E18-19, E18-20 (Omit #3), E18-22, P18-6 (FV Approach Only)

3/1/06

Chapter 19- Shareholders’ Equity

E19-3, E19-5, E19-6, E19-7, E19-9, E19-11, E19-13, E19-14, E19-15, E19-16, P19-9, P19-10

3/8/06

University Holiday- No Class!

 

3/15/06

EXAMINATION 2

 

3/22/06

Chapter 20- Earnings per Share

E20-1, E20-4, E20-5, E20-10, E20-11, E20-12, E20-13, E20-17, P20-7

3/29/06

Chapter 21- Accounting Changes and Error Corrections

E21-1, E21-3 (Omit #4), E21-5, E21-8, E21-13, E21-17, E21-19, E21-22, E21-24

4/5/06

Chapter 22- The Statement of Cash Flows

E22-1, E22-13, E22-16, E22-17, E22-24, E22-26, E22-29, E22-30, P22-8 (Omit #1)

4/12/06

Current Topics in Accounting- Guest Speaker

 

4/19/06

EXAMINATION 3