BUS 306 Intermediate Accounting II

WELCOME FROM YOUR INSTRUCTOR ~

Your Instructor: Professor: Dr. Jeanie OLaughlin, MBA, CPA, PhD Work Phone: 719-587-7316 Fax: 719-587-7603 Office Address: 208 Edgemont Blvd., Alamosa, CO 81102 E-mail: jolaughlin@adams.edu Dr. OLaughlin is an Assistant Professor of Accounting at Adams State College. Prior to moving to Colorado, Dr. OLaughlin held faculty and administrative positions at Northwest Christian University in Oregon and Dakota Wesleyan University in South Dakota. She is a licensed CPA in the states of South Dakota and Colorado. Dr. OLaughlin has held a variety of accounting positions during her professional career. Positions included Acting Treasurer and Director of Budgeting for Scripps College in Claremont, CA, Controller for American Filtrona Corporation in Santa Fe Springs, CA, Director of Finance for Active Communication Treatment Systems in Riverside, CA, and Accountant for Pacific Lighting Energy Systems in Los Angeles, CA. Her special interest in the field of accounting revolves around fraud in the work place, especially as it affects non-profits. Dr. OLaughlin received her B.S. in Accounting/Audit from California State College, San Bernardino; her M.B.A. in Marketing from California State College, San Bernardino; and her PhD in Higher Education Administration from Claremont Graduate University in Claremont, CA. Her doctoral research was on the Financing of Tribal Colleges. Welcome back! You survived Intermediate Accounting I, and now you are ready to move on to Intermediate Accounting II. Each of these chapters represent a detailed look at a section of accounting that you first covered in the first Introduction or Principles of Accounting course that you took. Completing Intermediate Accounting I is a huge step. I have found that once students get past the first Intermediate Accounting class they usually stay the course. So continue the great job you began in the last course and carry on. Remember, I am here to help you, so please let me know what I can do to help you succeed.

BUS 306 Intermediate Accounting II

SYLLABUS
Instructor: E-mail: Phone: Fax: Address: Dr. Jeanie OLaughlin, CPA, MBA, PhD jolaughlin@adams.edu 719-587-7316 719-587-7603 Adams State College 208 Edgemont BLVD. BUS 213 Alamosa, CO 81102

COURSE DELIVERY:
Web-Based Course.

CREDIT HOURS:
Four Semester Hours

PREREQUISITES:
BUS 305 with a grade of C- or better

COURSE MATERIALS:
To order textbooks or obtain information about book titles you may go to www.exstudies.adams.edu and click on the ASC Bookstore icon. Use Section Number: 1207 to order books from Bookstore site.

Required Textbook:
You may choose either the loose leaf or hardcover, which ever you prefer. The loose leaf is usually less expensive. Loose Leaf: Intermediate Accounting with British Airways Annual Report 6th edition J. David Spiceland, UNIV OF MEMPHIS James Sepe, SANTA CLARA UNIVERSITY Mark W. Nelson, CORNELL UNIVERSITY-ITHACA Lawrence A. Tomassini, Ohio State University 2011, ISBN-13 9780077403591 Hardcover: Intermediate Accounting with British Airways Annual Report 6th edition J. David Spiceland, UNIV OF MEMPHIS James Sepe, SANTA CLARA UNIVERSITY Mark W. Nelson, CORNELL UNIVERSITY-ITHACA 2011, ISBN-13 9780077395810

BUS 306 Intermediate Accounting II

Suggested Supplement:

Working Papers for Intermediate Accounting 6th edition William A. Padley J. David Spiceland, UNIV OF MEMPHIS James Sepe, SANTA CLARA UNIVERSITY Mark W. Nelson, CORNELL UNIVERSITY-ITHACA ISBN: 978-0-07-732889-4

CATALOG DESCRIPTION:
Study of assets and liabilities with particular emphasis on problems of measurement and the resultant effect on income and on problems of financial statement presentation. Exploration of authoritative literature in the field is a significant element. Term paper required. This course is the second in a three semester sequence. Student Learning Outcomes: At the end of this course the student should know which resources and obligations should be recorded as assets and liabilities; which changes in them should be recorded; how the recorded assets and liabilities and changes in them should be disclosed; what information should be disclosed and how it should be disclosed; and which financial statements should be prepared. Student will be able to apply the foregoing to the following areas: Acquisition and disposition of property, plant , and equipment Depreciation, impairment, and depletion Intangible assets Investments Current liabilities and contingencies Long-term liabilities Leases

COURSE REQUIREMENTS:
Homework and quizzes: Individual chapter homework assignments can be found in the schedule below. The homework will be from the problem section of the chapter assignments. The cases follow the problems and the British Airways case is at the end of the chapter. It is important for students to be able to use Excel in accounting situations. The text provides some templates for problems, the problems are noted with Excel in the margin. The templates can be found on the text book website and in your learning modules. I would strongly recommend that you do all of your homework in Excel. This will help you to get proficient in excel and prepare you for the workplace. Research Paper: A critical research paper on an accounting topic will be due two weeks prior to the end of the term. The paper should be between 5-7 pages typed, double spaced. Any acceptable format of presentation may be used but consistently apply the method. Generally, a business research

BUS 306 Intermediate Accounting II paper should have a thesis statement so the reader knows what you are trying to prove or disprove. This will also help to prepare you for graduate school! Your paper should also have a cover sheet and bibliography, but these do not count towards your 5-7 pages. Your topic should be related to one of the topics covered in our course. Some examples of topics could be Sarbanes-Oxley impact on companies, international accounting related to a topic in our course, current proposed changes, compare and contrast FIFO and LIFO, etc. The topic should require thought and you should be able to arrive at a conclusion based on your research. You must include at least three peer-reviewed journal articles for your paper. The Journal of Accountancy should be one of them. Content is as important as format. You could have a beautifully written paper but receive a low grade due to lack of a challenging topic that requires thought and a well-drafted conclusion. START your paper early!!! You may need to obtain interlibrary periodicals as there may be a lack of adequate current topic resources. Give credit where credit is due. Be aware that I will use a software program to screen papers submitted as class projects. The rubric that I will use to grade you paper is attached. It is important for you to submit an outline for your paper to ensure that you are on the right track with your topic and your sources. Your outline will be due no later than completion of Chapter 11. Your final paper will be due no later than after you complete Chapter 14. I encourage you to submit drafts along the way so I can help you polish your paper. If you wait until the last minute, your draft will end up being your final paper and may not reflect your best work.

Exams & Final There will be two exams and a final. The first exam will be after completion of Chapter 10, the second exam after completion of Chapter 13. Intermediate Accounting is cumulative in nature, so you can expect to have comprehensive exams. The final is comprehensive and will cover Chapters 8 through 15.

BUS 306 Intermediate Accounting II

TEXTBOOK CHAPTER/TOPIC Introduction to the Course and Syllabus Review Chapter 8-Inventories:Measurement

ASSIGNMENTS Read Chapter Homework Problems 1-7,9,12,13 Cases 7,8 British Airways case Chapter 9-Inventories: Additional Issues Read Chapter Homework Problems 1,3,5,6,8,10,12,14,15 Cases 7,11 British Airways case Chapter 10-Property, Plant, and Equipment Read Chapter and Intangible Assets :Acquisition and Homework Problems 1-6, 9-12 Disposition Cases 6,12 British Airways case Exam I Chapters 8-10 Chapter 11- Property, Plant, and Read Chapter Equipment and Intangible Assets: Homework Problems 1-10,13 Utilization and Impairment Cases 10,13 British Airways case Research Paper Outline Due Chapter 12-Investments Read Chapter Homework Problems 1-7,11,12 Case 1 British Airways case Chapter 13-Current Liabilities and Contingencies Read Chapter Homework Problems 1,2,4-9,12,13 Cases 5,13,14 British Airways case Exam 2 Chapter 11-13 Chapter 14-Bonds and Long-Term Notes Read Chapter Homework Problems 1-5,10,11,14,21 Cases 8,11 British Airways case Research Paper Due Chapter 15-Leases Read Chapter Homework Problems 14,7,8,10,11,15,20-22 Cases 4, 6 British Airways case Final

BUS 306 Intermediate Accounting II You will have one year in which to complete this course. There are seven chapters to cover, so you can take up to seven weeks to complete a chapter. I would recommend that you try to complete a chapter in 2-3 weeks. It is better to spend several short study times rather than to try to work in a couple of long study sessions. When I teach the class face-to-face, we spend one hour going over the PowerPoint. Since you are doing this on your own, it may you 2-3 hours to read through the slides and the text. Next, spend 2-3 hours working through the exercises. Take more time if you are not comfortable with the material, less if you are confident in the topic. Then, move on to the problems. Allow yourself 6-8 hours to work the problems, again, more if you are having trouble working them and less if you breeze through the materials. If you set yourself a time schedule, you will be more successful than if you just get to it when I can. I am here to help you in any way I can, just be sure to communicate with me.

GRADE DISTRIBUTION AND SCALE:

Course Grading The course grade will be based on homework assignments, quizzes, one mid-term and a final. Homework Quizzes Research Paper Final Exam Exams TOTAL 20 points each chapter 20 points each chapter 160 160 100 points 200 points 200 820 points

100 points each

Course grades will be based on the following scale: A -- 90%; B -- 80%; C -- 70%; F -- below 69% A passing grade is 70% or C-. Please note that there is no D grade, you must get a 70% or better to pass the class. In alignment with ASC academic policies, no D may apply to a major or minor field.

Scale: 738-820 656-737 574-655 492-573 Below 491 points

A B C D F

ADA STATEMENT:
Students who need special accommodation to complete this class should contact the instructor and the Diversity Officer in the Office of Equal Opportunity at 719.587.8213 as soon as possible.

BUS 306 Intermediate Accounting II

Examinations
Examination One will be emailed to you as soon as I receive the homework for Chapters 8 through 10. The exam is open book and open notes but should reflect your own work efforts. Exam Two will be emailed to you as soon as you submit all of the homework for Chapters 11 through 13. The final will be emailed to you upon completion of all of the homework for Chapters 14 and 15 and the return of both previous exams.

RUBRIC FOR RESEARCH PAPER

CRITERION Rating Excellent (Points) Ideas are clear and easy to understand. (20-18) Paper is very organized and easy to follow. (15-14) Uses advanced grammar. Excellent sentence structure. Appropriate punctuation. Uses many accounting terms. (15-14) Incorporated IFRS in several areas. (10-9) Clearly states the topic. Includes examples. Goes beyond the scope of the textbook. (20-18) Included five or more peerreviewed references. (15-14) 15-12 pages. (5) Rating Good Rating Satisfactory Rating Needs Improvement Ideas are random and not comprehensive. (13-0) Paper rambles. (9-0) Score

Comprehensibility 20 points

Organization 15 points

Grammar 15 points

Ideas are clear and somewhat understood. (17-16) Paper is somewhat organized and easy to follow. (13-12) Any three of the four. (13-12)

Ideas are basic and not developed. (15-14) Paper is not organized and hard to follow. (11-10) Any two of the four. (11-10)

One or less. (9-0)

IFRS 10 points

Topic 20 points

Incorporated IFRS in a few areas. (8) States topic, has some examples, very little outside the text book. (17-16) Included 3-4 references. (13-12)

Incorporated IFRS in one area. (7) States topic, few if any examples and only uses text. (15-14). Included 2 references. (11-10)

Did not incorporate IFRS in report. (6-0) States topic, no examples, and no outside work. (13-0)

References 15 points

One or fewer references. (9-0)

Paper Length 5 points

>11 or <10 (4)

>9 or <8 (3)

<7 (2-0)

BUS 306 Intermediate Accounting II

Total 100 points 100

COURSE INSTRUCTIONS:
You have one year in which to complete this course. The minimum requirement for course completions, regardless of the number of credit hours, is six weeks. No student may complete course requirement in less than six weeks. It is important to schedule your course study to fit into your academic plan. Be aware many instructors are not on campus during the holidays or term breaks, which can delay the return of corrected assignments. Therefore, if you have important deadlines to meet, such as graduation, be sure to complete and submit all of your assignments and take the final examination at least five weeks before the credit is needed. It is your responsibility to ensure the credits for this course will apply toward graduation or certification deadlines. Here is a general guide on how to complete this course: 1. Read the PowerPoint and book at the same time. As you read one of the slides, read the corresponding section in the book. When I am taking a class, I read a PowerPoint slide and use the book to see if I think I could then explain the slide to someone else. This is one way to make sure you really understand the topic before you move on to the next slide. I highlight and underline in my text for quick reference later. 2. Carefully go over the illustrative problems in the chapter. This will be a problem that is worked out in detail so you can see the process. This is a very important part of learning the chapter. 3. Test your knowledge by working the exercises at the end of the chapter. Work one exercise then check you answer with the answers provided in the chapter study guide. If you did not get the correct answer, try working the next similar exercise. You may have learned from your first mistakes and can now get the correct answer on the second exercise. If you still do not understand, go back and re-read the PowerPoint slides and the textbook. 4. If you have questions that you cannot figure out by reading the textbook and working the exercises, post your questions to the Discussions for the Chapter and I can help you to figure the topic out. 5. Now you are ready to work the homework problems. Work each problem out and show your work. Your homework will be graded and returned within one week of receipt. 6. After completion of the homework, go on and work the quiz while the material is fresh in your mind. 7. Your exams will be emailed to you after completion of Chapters 10,13 and 15 for the final. 8. Pace yourself, set realistic deadlines, and make a personal goal to complete this course.

BUS 306 Intermediate Accounting II 9. Remember that this is a four credit class. The rule of thumb is three hours of work per week per credit. This translates to 12 hours per week. It should not take you this long, however, some chapters may be more difficult than others, so just make sure to allow yourself the time to complete.