CALIFORNIA STATE POLYTECHNIC UNIVERSITY, POMONACALIFORNIA STATE POLYTECHNIC UNIVERSITY, POMONAACC 312 Intermediate Accounting II

SYLLABUS

Fall 2014

PROFESSOR:Hassan HefziOFFICE: 164-2085OFFICE HOURS:200-4:00 MWPHONE: (909) 869-2385And by appointmentE-mail: hhefzi@csupomona.edu(I do not respond to e-mails on weekends)Text and other Materials:Intermediate Accounting, Spiceland, Sepe and Nelson, 7th Ed., McGraw-Hill, 2012.The Wall Street Journal (Sign up form distributed in class).Prerequisite: Acc 311 with a minimum grade of C (for non-accounting majors, see Cal Poly Pomona Catalog)Catalog DescriptionApplication of FASB Conceptual Framework of Accounting to specific topics in financial accounting. Decision-making and problem-solving Skills.Expanded Course Description:An examination of problem areas in financial accounting with emphasis on the concepts, fundamentals, standards, and procedures studied in introductory accounting. Further study is undertaken with regard to the development, analysis, and understanding of financial statements and their role in decision-making. Special acknowledgment is given to the publications and pronouncements of the American Institute of Certified Public Accountants (AICPA), American Accounting Association (AAA), Financial Accounting Standards Board (FASB), Securities and Exchange Commission (SEC), and other professional and governmental organizations.

Course Objectives:

This course is aimed primarily toward those who will be providers of financial information for external usethose who will be primarily responsible for observing, selecting, measuring, and reporting financial information for external decision making. The main objective is to develop skills of application and analysis, i.e., to demonstrate the use of appropriate concepts, standards, and techniques after having considered the needs of financial statement users and how the behavior of the users may be influenced by financial accounting information. Achieving this objective requires that the student synthesize his/her basic knowledge and understanding of economics, general business, contemporary laws and regulations, and generally accepted accounting principles.

Course Philosophy:Intermediate accounting courses are designed to provide the students with an understanding of the theory of financial accounting and the practice necessary to permit the students to function effectively as a professional (management accountant, public accountant, internal auditor, or any other business endeavor). Thus, all of the students work must be of a quality such that it could be presented to a supervisor, if you were in a real-world situation. Sloppy or incomplete homework is unacceptable. Intermediate accounting will focus on the preparers role in providing accounting information. It will emphasize the underlying theory and concepts of financial accounting and will be particularly concerned with a students ability to reason why a particular solution is preferable. You are required to take some responsibility for your own learning. You are expected to read the assigned material and formulate questions before coming to the class. Active participation is expected of everyone. Thus, come to class prepared to participate. Twenty five points of the course grade is based on your class participation. Keep in mind that class attendance is not class participation. You may attend all classes and still receive zero point for class participation, if you do not actively participate in class discussions.Homework assignments:You have been assigned problems, cases and other materials from each chapter. These assignments are the minimum amount of work required for successful completion of the course. Total of six assignments will be collected for grading on a random basis. You will be allowed to drop the lowest homework grade. Homework assignments will be due at the beginning of the class period for which they are assigned. Late homework assignment will not be accepted under any circumstances.Quizzes:Total of six quizzes will be given during the quarter. These quizzes will be over the reading materials from each chapter before they are discussed in class. The purpose of these quizzes is to ensure that you read the chapters for each class period. No make ups will be given. However, you will be allowed to drop the lowest grade on quizzes.Group Writing Assignment:Students are required to write a group research paper. Groups of four students each will be formed in the class. You are free to choose your group members. You must give me the names of the group members no later than October 6, 2014. Each group will do a research paper on International Accounting Standards. The paper should include historical development, pros and cons of international accounting standards, developments of International Financial Reporting Stands (IFRS) and current status of International Accounting Standards in U.S. A proposal (outline) of the paper is due by October 29, 2014. Papers will be graded based on the content, writing style and grammar. It should be typed double-space with a minimum of 15 pages in length. Papers are due on November 24, 2014. Late papers will not be accepted under any circumstances.Beginning of the Class Open Discussion:First five minutes of each class period is open to you to share with others accounting related or other current materials that you have read or seen or any announcement that you may want to make.Examinations:There will two mid-terms and final exam. Exams may contain any or all of the following question types: multiple choice, problem, short answer, matching, or essay. Exams will be given on the dates scheduled. No make up exams will be given. If you miss an exam, you will receive a grade of -0- for the exam. Calculators can be brought to each exam, but the can not be shared. Attendance:Class attendance is expected. Please attend regularly and give yourself every opportunity to successfully complete this course. Students with excessive unexcused absences (three for each exam period) will not receive credit for adjustment to individual exam grades.Grade Determination:A letter grade will be assigned based on the total points achieved. Grades will be determined based on the following factors: Examinations (100 pts each)300Homework 50Quiz 50Group Writing Assignment 50Class participation 25Total points475The following scales will be used to assign the letter grades at the end of the quarter:A 428 to 475 ptsC332 to 379 ptsF less than 285B380 to 427 ptsD285 to 331 ptsAccounting 312 AssignmentsFall 2014(subject to minor changes)ClassNo.Date Read/StudyAssignments1Sept 29 Introduction2Oct. 1 Ch 7Cash and ReceivablesE7-1, 5, 11; P7-4, 133Oct. 6 Ch 7Cash and ReceivablesE7-13, 14, 15, 18, 19,23; P7-7, 9, 10Group Member Names Due4Oct. 8 Ch 8Inventories: MeasurementE8-4, 5, 7, 11, 17, 215Oct. 13 Ch 8 Inventories: MeasurementP8-2, 5, 8, 9, 156Oct. 15 Ch 9Inventories: Additional Issues`E9-9, 15, 16; P9-27Oct. 20 Ch 9Inventories: Additional IssuesE9-23, 26; P9-5, 138Oct. 22 Exam 1 (Chapters 7, 8, 9)9Oct. 27 Ch 13Current Liabilities & Contingencies E13-1, 4, 7, 13, 15, 20 10Oct. 29 Ch 13 Current Liabilities & Contingencies E13-19, 21, 23, 27; P13-2, 3, 5, 10Outline for group papers due11Nov. 3 Ch 10Operational Assets: AcquisitionE10-4, 6, 9, 11, 15, 16, 17; P10-1, 212Nov. 5 Ch 10Operational Assets: AcquisitionE10-25, 27; P10-4, 7, 913Nov. 10 Ch 11Operational Assets: Utilization & DisposalE11-1, 3, 5, 8, 9, 11, 14, 2514Nov. 12 Ch 11Operational Assets: Utilization & DisposalE11-18, 22, 23, 28 ; P11-5, 815Nov. 17 Exam 2 (Chapters 10, 11, and 13)16Nov. 19 Ch 12 InvestmentsE12-7, 11; P12-117Nov. 24 Ch 12InvestmentsE 12-15; P12-5, 6, 9, 10 Ggroup papers due18Nov. 26 Ch 14Bonds and Long-Term NotesE14-3, 4, 7, 11; P14-419Dec. 1 Ch 14Bonds and Long-Term NotesE14-17, 18; P14-7, 13, 1520Dec. 3Ch 14Bonds and Long-Term NotesE14- 21, 22, 23, 26, 29 ______________________________________________________________________________________________________Final Exam (Chapters 12 and 14): 4:00 pm Class, Monday Dec. 8, 2014, 3:50-5:506:00 pm Class, Monday Dec. 8, 2014, 6:00-8:00