Document 2041626

University of Manitoba
Asper School of Business
Department of Accounting and Finance
ACC 2010 Intermediate Accounting - Assets
Course Outline
Summer 2015
A01
Instructor:
Office:
Phone:
Email:
Office hours:
Monday & Wednesday
7:00 PM – 9:30 PM
105 Drake
Jean Pai, CGA/CPA
372 Drake Centre
(204) 474-6391
[email protected]
Mondays & Wednesdays, 6:00 PM – 6:45 PM
Course Description
ACC 2010 is the first of a two-part series in Intermediate Financial Accounting. This course is designed
to help students develop a thorough understanding of (a) the environment of financial reporting and the
conceptual framework that underlies financial reporting in Canada; (b) the accounting for assets,
revenues, and expenses in greater depth than in introductory accounting course; and (c) substantive
differences between International Financial Reporting Standards (IFRS) by publicly accountable
enterprises and accounting standards for private enterprises (ASPE). It applies some accounting theory
to help explain the “why” behind accounting standards and practices.
Learning Outcomes
Upon completion of this course, you will be expected to:
o
have a solid understanding of financial accounting concepts and IFRS, as they apply to the topics
covered in this course;
o
have developed professional judgment in analyzing accounting issues and recommending
accounting policies; and
o
have developed skills in applying accounting standards to situations and problems.
o
when time permits, explore some wider issues in case studies and discussions, including ethics,
corporate social responsibility, corporate governance and critical thinking. Teamwork may be
necessary in case groups.
ACC 2010, Summer 2015, Course Outline / Page 2 of 8
Course Material
1. Required Text: Intermediate Accounting, Vol. 1, by Lo and Fisher, 2nd edition, Pearson Canada.
2. Reference: Certified Public Accountant Canada Standards and Guidance Collection (CPACHB)
It is made up of 5 parts. For this course, we will only be studying Part I and Part II. Part I is the
International Financial Reporting Standards (IFRS). Part II is the Accounting Standards for Private
Enterprises (ASPE). Though it is not absolutely necessary to read the IFRS or ASPE, motivated
students may find it useful to read directly from the accounting standards to obtain a better
understanding of the application of accounting.
To access the CPACHB (Certified Public Accountants Canadian Handbook):
1) From the University of Manitoba homepage (umanitoba.ca), under the RESOURCES block click
on LIBRARIES.
2) Under the FIND block, click on DATABASES A-Z, then C tab in the DATABASES A-Z screen.
3) Scroll down until you find CICA STANDARDS &GUIDANCE COLLECTION and click on it.
4) You should see a SIGN IN screen for off-campus authentication.
5) You will then have to enter your Library ID and PIN (if you do not know your Library ID and/or
PIN, there is a link on this page that will help you) and click on Login.
6) On the Knotia.ca page, click on CICA Standards & Guidance Collection.
3. Class Notes:
o Available on course website: https://universityofmanitoba.desire2learn.com/
o Sign in using your University of Manitoba UMnetID
o From your Summer 2015 list of courses, click on “ACC-2010-A01-Intermediate AccountingAssets”
o Click “Resources”, then “Content”
4. Registration to MyAccountingLab (MAL):
A registration code should come with a new textbook. Registration is necessary in order to access
and complete required MAL assignments for 10% of your course grade. See page 3 for registration
information of MyLab & Mastering. If you have taken this course in Fall 2014 or Winter 2015 with
Professor Wenxia Ge using the same textbook, please see me no later than May 20, 2015 for your
extension to MAL.
5. A Financial Calculator:
Tables of Present Value and Future Value Factors will not be provided during an examination.
Students are expected to use his or her financial calculator to calculate all relevant figures during an
examination.
Students are expected to independently learn Appendix B – Time Value of Money and Simple
Valuation Techniques prior to the completion of Chapter 7 lecture in order to keep up with the
course.
ACC 2010, Summer 2015, Course Outline / Page 3 of 8
MyLab & Mastering
Student Registration Instructions by Pearson
To register for Lo, Intermediate Accounting, Volume 1, 2nd Ed, 2015:
1. Go to http://pearsonmylabandmastering.com.
2. Under Register, click Student.
3. Enter your instructor’s course ID: pai94603, and click Continue.
4. Sign in with an existing Pearson account or create an account:
 If you have used a Pearson website (for example, MyITLb, Mastering, MyMathLab, or My
Psychlab), enter your Pearson username and password. Click Sign In.
 If you do not have a Pearson account, click Create. Write down your new Pearson username
and password to help you remember them.
5. Select an option to access your instructor’s online course:
 Use the access code that came with your textbook or that you purchased separately from the
bookstore.
 Buy access using a credit card or PayPal.
6. Click Go To Your Course on the Confirmation page. Under MyLab / Mastering New Design on
the lift, click Lo, Intermediate Accounting, Volume 1, 2nd Ed, 2015 to start your work.
To sign in later:
1. Go to http://pearsonmylabandmastering.com.
2. Click Sign In.
3. Enter your Pearson account username and password. Click Sign In.
4. Under MyLab / Mastering New Design on the left, click Lo, Intermediate Accounting, Volume 1,
2nd Ed, 2015 to start your work.
ACC 2010, Summer 2015, Course Outline / Page 4 of 8
Conduct of the Course
The course will be conducted principally as a lecture-style class, with some in-class discussion and
activities involving the application of accounting principles. Readings, as indicated in the tentative class
schedule, have been selected and assigned for each topic covered in the course. The readings will be
most effective if completed prior to class.
Jean Pai and the University of Manitoba hold copyright over the course materials, presentations and
lectures which form part of this course. No audio or video recording of lectures or presentations is
allowed in any format, openly or surreptitiously, in whole or in part without permission of the
instructor. Students are encouraged to take their own notes in class to enhance the learning of the
subjects. Course materials (including copyrighted works and those created by me) are made available
for private study and must not be distributed in any format without permission.
Examinations or Class Tests
Exam and test questions are adapted and revised from the after-chapter questions and examples in the
class notes. Students are encouraged to practice as many after-chapter problems or questions to
internalize concept applications and to prepare for an exam or test. No past exams will be provided to
emphasize the value of after-chapter questions. Solution manual of the textbook after-chapter
questions will be available in class or through the course website (D2L).
For any examination or class test, each student will be allowed to bring financial calculators, erasers,
rulers, pens other than red and pencils. No other materials or information sheets will be permitted.
Conflicts with employers do not qualify as legitimate reasons to miss any examination.
A grade of zero will be given to a missed midterm examination or a missed class test without a
legitimate reason. Students who miss the midterm examination or class test for a legitimate reason
(medical, compassionate, academic conflict or university sports team travel) should inform me with
suitable documentation within 5 days of the missed examination or test to have the weight of the missed
midterm or class test added to the final examination.
In order to obtain an excused medical absence for an exam or a class test, the student must obtain a
doctor’s certification that the student’s condition is severe enough to prevent the student from taking the
exam or test. It is recommended that the student ask the doctor to fill out the Medical Absenteeism
Form attached to this course outline as the suitable documentation for an excused medical
absence. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor’s
office or a note not covering the date of the examination or test.
Students who miss the final examination must apply to the Undergraduate Program Office in their
faculty for possible deferred examination privileges. Successful applicants will be informed the time
and location of the deferred final examination at time of application.
ACC 2010, Summer 2015, Course Outline / Page 5 of 8
Email Communication
Please note that all communication between me and you as a student must comply with the electronic
communication with student policy
(http://umanitoba.ca/admin/governance/governing_documents/community/electronic_communication_w
ith_students_policy.html). You are required to obtain and use your U of M email account for all
communication between yourself and the university.
Please use your university e-mail account to communicate with me, and give your full name, section
and UM ID number when you write to me.
Allocation of Grades
Online Assignments:
Midterm Exam:
Final Exam:
Please refer to the assignment schedule below
May 25, 2015, 7:00 PM– 9:00 PM, in class
To be scheduled by the Registrar’s Office
10%
45%
45%
100%
Online Assignments
Students must complete online assignments through MyAccountingLab associated with the Lo/Fisher
textbook. There is no make-up assignment or re-weighting of any on-line assignment. Schedule of
MyAccountingLab (MAL) Homework Assignments is as follows:
Instructions:
5 attempts are allowed for
each question with no
time limit. Correct
answers are locked.
Printing and saving work
to revisit before
submission are allowed.
Partial mark is awarded.
Due at 11:59 PM on June 1, 2015:
Chapter 3 -- 2 questions,
Chapter 4 – 2 questions,
Chapter 5 – 2 questions,
Chapter 6 – 2 questions,
Chapter 7 – 2 questions,
1.25%
1.25%
1.25%
1.25%
1.25%
Due at 11:59 PM on June 18, 2015:
Chapter 8– 2 questions,
Chapter 9– 1 question,
Chapter 10 – 1 question.
1.25%
1.25%
1.25%
ACC 2010, Summer 2015, Course Outline / Page 6 of 8
TENTATIVE CLASS SCHEDULE
The assigned chapters DO NOT include the appendices unless specifically noted.
1: These are practice questions from the assigned textbook and not to be handed in. Solutions are provided in
Desire to Learn (D2L) course site under the Content tab. After-chapter problem printed in orange indicates
more similar problems with different values are available for practice in MyAccountingLab.
Date
May 4
Topic
Frameworks for financial
Reporting
Self-Practice Questions 1
Readings
Ch. 2
P2-2, P2-3, P2-9, P2-11, P2-12, P2-15, P2-22
P3-2, P3-6, P3-9, P3-14, P3-16, P3-17, P3-19, P3-22,
P3-26, P3-27, P3-28, P3-29, P3-30, P3-31, P3-36, P337, P3-39, Case 1,
See above.
P4-4, P4-5, P4-6, P4-7, P4-8, P4-9, P4-11,P4-12, P4-14,
P4-15, P4-17, P4-20, P4-21, P4-26, P4-28, P4-29, P432, P4-33, P4-35, P4-37, P4-40, Case 2
May 6
Accrual accounting
Ch. 3
May 11
Accrual accounting
Ch. 3
May 11
Revenue and expense
recognition
Ch. 4
May 13
Revenue and expense
recognition
Ch. 4
May 20
Cash and receivables
Ch. 5
May 20
Inventories
Ch. 6
May 22
Inventories
Ch. 6
May 25
Midterm Examination from 7:00 p.m. to 9:00 p.m.; covering chapters 2 to 6, inclusive.
P7-1, P7-4, P7-8, P7-9, P7-11, P7-13, P7-14, P7-15, P7Financial assets
Ch. 7
16, P7-18, P7-20, P7-21, P7-23, P7-24, P7-25, p7-27,
P7-29, P7-31, P7-34,P7-35, P7-40
P8-4, P8-8, P8-9, P8-11, P8-15, P8-18, P8-21, P8-23,
Property, plant, and
P8-26, P8-27, P8-31, P8-32, P8-34, P8-36, P8-38, P8Ch. 8
equipment
41, P8-43, Case 2
P9-2, P9-7, P9-8, P9-11, P9-12, P9-15, P9-17, P9-19,
Intangible assets, goodwill,
Ch. 9
P9-20, P9-21, P9-23, P9-24, P9-25, P9-26, P9-32,
mineral resources, and
Case 2
government grants
See below P10-6, P10-8, P10-9, P10-12, P10-14, P10Applications of fair value
16, P10-17, P10-21, P10-19, P10-20, P10-23, P10-24,
Ch. 10
to non-current assets
P10-28, P10-29, P10-30, P10-38, P10-39, P10-41, P1044
Applications of fair value
Ch. 10
See above
to non-current assets
May 27,
June 1
June 3
June 8
June 10
June 15
June 17
Cash flow statement
Appendix A
See above.
P5-3, P5-4, P5-7, P5-9, P5-11, P5-15, P5-17, P5-19, P522, P5-24, P5-25, P5-26, P5-28, P5-32, P5-33, P5-36,
P5-37, P5-38
P6-2, P6-4, P6-6, P6-7, P6-11, P6-14, P6-15, P6-20, P623, P6-24, P6-26, P6-28, P6-30, P6-32, P6-35, P6-36,
P6-39, P6-41
See above.
PA-1, PA-2, PA-5, PA-16, PA-21, PA-22 (omit #1), PA-28,
PA-29, PA-33, PA-35, PA-38, PA-41, PA-42
Appendix 1. Academic Integrity
It is critical to the reputation of the I. H. Asper School of Business and of our degrees that
everyone associated with our faculty behaves with the highest academic integrity. As the faculty
that helps create business and government leaders, we have a special obligation to ensure that our
ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this
trust. The University of Manitoba Undergraduate Calendar addresses the issue of academic
dishonesty under the heading “Plagiarism and Cheating.” Specifically, acts of academic
dishonesty include, but are not limited to:
 using the exact words of a published or unpublished author without quotation marks and without
referencing the source of these words
 duplicating a table, graph or diagram, in whole or in part, without referencing the source
 paraphrasing the conceptual framework, research design, interpretation, or any other ideas of
another person, whether written or verbal (e.g., personal communications, ideas from a verbal
presentation) without referencing the source
 copying the answers of another student in any test, examination, or take-home assignment
 providing answers to another student in any test, examination, or take-home assignment
 taking any unauthorized materials into an examination or term test (crib notes)
 impersonating another student or allowing another person to impersonate oneself for the purpose
of submitting academic work or writing any test or examination
 stealing or mutilating library materials
 accessing tests prior to the time and date of the sitting
 changing name or answer(s) on a test after that test has been graded and returned
 submitting the same paper or portions thereof for more than one assignment, without discussions
with the instructors involved.
Group Projects and Group Work
Many courses in the I. H. Asper School of Business require group projects. Students should be aware
that group projects are subject to the same rules regarding academic dishonesty. Because of the unique
nature of group projects, all group members should exercise special care to insure that the group project
does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly
accountable unless the violation can be attributed to a specific individual(s).
Some courses, while not requiring group projects, encourage students to work together in groups (or at
least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss
this issue as it relates to academic integrity with their instructor to avoid violating this policy.
In the I. H. Asper School of Business, all suspected cases of academic dishonesty are passed to the
Dean’s office in order to ensure consistency of treatment.