BRAC University

BRAC Business School

ACT 301: Intermediate Accounting
Summer – 2014
______________________________________________________________________________________________________________

Showvonick Datta
Office: UB20 – 612,
Office Hours: ST 10:30 AM 1:45 PM;
MW 10:00 AM - 11:00 PM, 12:30-2:00PM, and 3:30 - 4:50 PM.
Email: Showvonick@bracu.ac.bd

COURSE DESCRIPTION AND OBJECTIVE: The course deals with preparation and
understanding of financial statements and its components. Topics include multiple-step Income
Statement, Balance Sheet, Cash Flow statement and Owner’s equity statement. Besides, Financial
statements the course will also cover the following:
 Apply the correct revenue recognition method to different situations.
 Indicate how cash is reported on the balance sheet.
 Explain accounting issues related to the recognition, valuation, and disposition of accounts
receivable.
 Identify the acquisition costs of land, buildings, and equipment.
 Apply the various methods of amortization.
 Prepare financial statement disclosures for capital assets and their related amortization.
 Explain the accounting issues related to asset impairment.
 Describe the characteristics of intangible assets.
 Apply the procedure for valuing and amortizing intangible assets.
 Understand the International Accounting Standards

TEACHING STRATEGY:
The course will be conducted principally as a class room lecture, with some in-class discussion and
activities involving the application of accounting principles. Relevant readings and case studies for
selected topic will be assigned in TSR. Solutions for selected problems and cases from the textbook
and reference reading will be available in class or through TSR. There will be a group assignment (3
students per group) to collect and analyze the data of assigned company.

REQUIRED TEXT:
Intermediate Accounting, 13th Edition by Dionald Kieso, Jerry Weygandt, and Terry Warfield.

REFERENCE TEXTS:
1. Accounting Principles, (9th or 8th Edition), by Jerry Weygandt, Donald Kieso, and paul
Kimmel
2. Intermediate Accounting, (5th Edition), by Thomas Dyckman, Charles Davis, and Roland
Dukes
3. Intermediate Accounting, (15th Edition), James Stice, Earl Kay Stice, and Fred Skousen
4. Introduction to Financial Accounting, 9th edition by Charles T. Horngren, et.el.

COURSE QUIZZES, ASSIGNMENTS AND EXAM RULES:

1. Mobile phone must be switched off, and no recording is allowed.
2. All exams and quizzes are closed book.

Course Outline (ACT 301) Page 1

 3. Midterm Examination: Midterm exam will take place on the midterm week in regular class
hour. It is a 70-80 minutes exam and the syllabus includes the concepts discussed by the
middle of the semester. (Chapter 3, 4, 5, 16 and 23). The exam will comprise of short answer
questions and problem solving.
4. Final Examination: It is a 2 hour exam, and the syllabus is comprehensive as per university
rules. The final exams will consist of MCQ, Short questions, and numerical problems.

5. QUIZZES: This course will include 4 quizzes spread over the length of the course. The quiz
will be held in the beginning of the class so please do not be late in the class. There will be
no makeup of any quizzes. If you have any outside commitment then you have to inform me
in advance, no request after the quiz is over will be accepted.
6. ASSIGNMENT: It is a group assignment. The purpose of the assignment is to collect and
analyses of historical data, to judge the quality of earnings, proper uses of current assets, cost
of debt for the assigned listed pharmaceutical company and forecast the future of the
company. I will assign the name of the company to every group and will upload the detail of
the assignment in TSR in due time. You will have to collect the annual report, and may
require head office/factory visit and discuss with the accounts department if needed for any
clarifications should arise.

7. Anyone found committing cheating would receive “F” for the course. Please follow the
university guidelines on ethical behaviour during examinations and quizzes. Any dishonest
behaviour will be rewarded with a failing grade. Dishonest behaviour includes but is not
limited to:
i. Speaking to other candidates during the examination for any reason.
ii. Bringing any kinds of notes or text to the exam or opening the text during the
quizzes.
iii. Leaving answer sheets to view by another candidate.
iv. Copying any part of another student’s assignment.
8. ATTENDANCE: If any student misses 7 Classes, s/he will not be allowed to take the final
exam as per the BRAC University rules. Time to time I may take pop up quizzes if students
are late to enter into class. Finally, every class is equally important for the final grades, so
please be prepared for every test from the beginning of the semester, and study in advance.
9. It is extremely important to bring the calculator, text book and necessary materials in the
class.

EVALUATION:
Mid Term 20%
Final 40%
Assignment 15%
Homework 05%
Quiz 15%
Class Attendance & Participation 05%
Total 100%

PREPARING FOR EXAMS:

Class participation is strongly encouraged, as it would help you comprehend the course material
better. The main reading material of this unit would be the text books. For a complete understanding
students are expected to visit publisher’s websites, and read up-to-date materials from the website.

ADDITIONAL POLICIES:
1. All the exams must be taken when scheduled. If you have an emergency that causes you to
miss an exam, you must notify me in advance personally or by email.
2. Make up exams may be allowed only if due causes can be demonstrated. All make-up exams
will generally be harder.

Course Outline (ACT 301) Page 2

 3. If you sit for exam then no request for a make-up of that exam will be entertained.
4. Anyone found committing cheating would receive “F” for the course.
5. Finally, every class is equally important for the final grades, so please be prepared for every
test from the beginning of the semester.

Grading Policy: The grades will be awarded as per BRAC University’s grading policy as follows:
Range of Marks  Grade  GPA Remarks
90   To 100  A  4 Excellent
85  To 89  A‐  3.7 Excellent
80  To 84 B+  3.3 Excellent
75  To 79  B  3 Good
70  To 74  B‐  2.7 Good
65  To 69  C+  2.3 Good
60  To 64  C  2 Fair
57  To 59  C‐  1.7 Fair
55  To 56  D+  1.3 Fair
52  To 54  D  1 Poor
50  To 51  D‐  0.7 Poor
Below 50    F  0 Failure

LIST OF CHAPTERS TO BE COVERED

Chapte
Lecture Topic r
Lecture 1 Introduction and warm up 3
Lecture 2 Income Statement 4
Lecture 3 Income statement 4
Lecture 4 Income statement 4
Lecture 5 Balance Sheet 5
Lecture 6 Balance Sheet 5
Lecture 7 Owner's equity statement 16
Lecture 8 Owner's equity statement 16
Lecture 9 Cash Flow Statement 23
Lecture 10 Cash Flow Statement 23
Lecture 11 Cash Flow Statement 23
Lecture 12 Midterm
Lecture 13 Cash receivables 7
Lecture 14 Cash receivables 7
Lecture 15 Property, plant and equipment 10
Lecture 16 Property, plant and equipment 11
Lecture 17 Amortization 12
Lecture 18 Amortization 12
Lecture 19 Current Liability and contingency 13
Lecture 20 Current Liability and contingency 13
Lecture 21 Long term liability 14
Lecture 22 Revenue Recognition 18
Lecture 23 Revenue Recognition 18
Lecture 24 Review

Course Outline (ACT 301) Page 3

Should you need any help regarding understanding the unit or other thing please feel free to see me.
All Self tests, PowerPoint slides will be available in the following sites; students are strongly
encouraged to visit the site:
http://bcs.wiley.com/he-bcs/Books?
action=chapter&bcsId=4881&itemId=0470374942&chapterId=47788
The instructor reserves the right to change any part of this course outline during the semester.

Course Outline (ACT 301) Page 4