ACCT*3340 Intermediate Financial Accounting II - University ...
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ACCT*3340 Intermediate Financial Accounting II
Summer 2020
Section(s): C01
Department of Management
Credit Weight: 0.50
Version 3.00 - May 07, 2020
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1 Course Details
1.1 Calendar Description
This course focuses on how entities account for current and non-current liabilities and equity
accounts, including, income taxes, leases, pensions and other post retirement benefits, share
equity and retained earnings, stock options. Additional topics may include earnings per share,
restatements and statement analysis.
Pre-Requisites: ACCT*3330
1.2 Timetable
Tuesdays & Thursdays : 10:30AM - 11:50AM
1.3 Final Exam
Monday August 10, 2020 : 08:30AM - 10:30AM
Timetable is subject to change. Please see WebAdvisor for the latest information.
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2 Instructional Support
Instructor: Sandra Scott
Department: Management
Email: sjscott@uoguelph.ca
Office location: MAC202ACCT*3340 C01 S20 v3.00
Office hours: By appointment over Zoom. Please email me (sjscott@uoguelph.ca) to
make an appointment.
2.1 Teaching and learning practices
The course is comprised of 10 topics, each of which will be covered using the following
format:
Background readings
Each topic contains readings about related concepts and issues. Readings are to be
completed prior to attending class.
On-line presentations
PowerPoint presentations are available on the course website for each topic. These
presentations cover the conceptual elements of the topic and should be viewed before class.
Open book WileyPlus assignments
Assignments (WileyPlus required) will be done on-line using WileyPlus, and can be accessed
through the course website. These questions are at an introductory level and must be
completed before class. You will have three attempts for each question. The assignments
will be taken up in class as we go through the Class Notes.
Problems for class discussion
You will be assigned problems and exercises which form an integral part of each class
discussion. These problems approximate the difficulty level you should expect to see on
exams. To maximize your learning, you are encouraged to attempt the in-class problems
prior to attending the virtual class. These problems will also be incorporated into the Class
Notes.
Additional self-study problems
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In addition to the problems for class discussion, additional problems should be completed on
a self-study basis to reinforce and clarify the in-class learning. Additional problems are
recommended in the Class Notes - solutions to these problems will be posted to Courselink.
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3 Learning Resources
3.1 Required Resources
Textbook with publisher software (WileyPlus) (Textbook)
http://www.campusebookstore.com/integration/AccessCodes/default.aspx?bookseller_id=247&Course=A
Kieso, et al., Intermediate Accounting, Volume II, 12th Canadian Ed., John Wiley & Sons
Canada Ltd., 2019.
http://www.campusebookstore.com/integration/AccessCodes/default.aspx?bookseller_id=247&Course=
Two purchasing options are available:
1. LOOSELEAF INTERMEDIATE ACCT.VOL#2/WILEYPLUS & EBOOK by Kieso et al.; 12th
edition; ©2019, ISBN 9781119600060 (Note that the bookstore offers offering FREE
Shipping within Canada for any students preferring the print version.)
2. EBOOK INTERMEDIATE ACCOUNTING VOL#2 WITH WILEYPLUS by Kieso et al.; 12th
edition; ©2019, ISBN 9781119594918
The link below provides direct access to purchasing the digital materials (WileyPlus)
required for the course:
http://www.campusebookstore.com/integration/AccessCodes/default.aspx?bookseller_id=247&Course=
3.2
Page 3 of 13ACCT*3340 C01 S20 v3.00
Recommended Resources
Access available for FREE through the UofG library (Textbook)
CPAC Handbook.
Electronic access to the CPAC Handbook can be obtained through the University of Guelph
library. Because the Handbook is constantly being updated, a hardcopy version would
become quickly updated, and is not recommended.
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4
Learning Outcomes
4.1 Course Learning Outcomes
By the end of this course, you should be able to:
1. Apply generally accepted accounting principles and practices to situations with moderate
complexity as they relate to the following topics:
a. Current liabilities
b. Long term financial liabilities
c. Accounting for leases, pensions, deferred taxes and asset retirement obligations
d. Shareholders’ equity
e. Other measurement and disclosure issues such as earnings per share, interim and
segmented reporting, subsequent events and related party transactions
2. Prepare financial statement information related to the above noted topics.
3. Analyze moderately complex accounting issues and research alternative treatments in
support of a recommended solution.
4. Communicate effectively in written format in response to less structured problems.
5. Demonstrate an awareness of ethical and professional reporting responsibilities as they
relate to financial reporting.
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5 Teaching and Learning Activities
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5.1 Lecture
Thu, May 7 - Thu, Jul 30
Topics: The following schedule of activities is subject to changes as
the term proceeds.
Date Chapters/Topics Pre-Class Readings In
act
Th May 7 Introduction -- --
T May 12 Current & non-financial Kieso Ch 13 P13.1,
liabilities I
Th May 14 Current & non-financial HB I: IAS 1, 16, 37 E13.16
liabilities II
HBII: 1510, 3110, 3290
M May 18 VICTORIA DAY
T May 19 Long term liabilities I Kieso Ch 14 P14.10
On-line Assts 1,2 due by 11
pm
Th May 21 Long term liabilities II HB I: IAS 32, 39, IFRS 9 P14.5,
HB II: 3856
T May 26 Shareholders’ equity I Kieso Ch 15 P15.3,
On-line Asst 3 due by 10 am
Group contract due
Th May 28 Shareholders’ equity II HB I: IAS 1 E15.15
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Date Chapters/Topics Pre-Class Readings In
act
HB II: 3240, 3251, 3856
T June 2 Complex financial Kieso Ch 16 P16.1
instruments I
On-line Asst 4 due by 10 am
Th June 4 Midterm exam #1 Covering Ch 13, 14, 15 --
(Respondus)
T June 9 HB I: IFRS 9 E16.8 e
Complex financial
P16.6,
instruments II HB II: 3856
Th June 11 Earnings per share I & MT E17.8,
take-up Kieso Ch 17
On-line Asst 5 due by 10 am
T June 16 WileyPlus Data
Data analytics Analytics & Accounting
module
Th June 18 Earnings per share II HB I: IAS 33 E17.12
T June 23 Income tax accounting I E18.15
Kieso Ch 18
On-line Asst 6 due by 10 am
Th June 25 Income tax accounting II HB I: IAS 12 E18.19
Data analytics assignment HB II: 3465
due by midnight
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Date Chapters/Topics Pre-Class Readings In
act
T June 30 Income tax accounting III P18.15
W July 1 CANADA DAY
Th July 2 Leases I Kieso Ch 20 E20.5,
On-line Asst 7 due by 10 am
T Jul 7 Midterm exam #2 --
Covering Ch 16, 17, 18
(Respondus)
Th Jul 9 HB I: IFRS 17 E20.9,
Leases II
HB II: 3065
T Jul 14 Pensions & employee future Kieso Ch 19 E19.1,
benefits I
On-line Asst 8 due by 10 am
Th Jul 16 Pensions & employee future HB I: IAS 19 E19.9,
benefits II
HB II: 3462
Group written assignment
due by midnight
T Jul 21 Other measurement & Kieso Ch 23 E23.5,
disclosure issues I
On-line Asst 9 due by 10 am
Th July 23 Other measurement & HB I: IAS 10, 24, IFRS 8 BE23.1
disclosure issues II P23.10
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Date Chapters/Topics Pre-Class Readings In
act
HB II: 3820, 3840
T Jul 28 Accounting changes Kieso Ch 21 P21.3,
On-line Asst 10 due by 10 HB I: IAS 8
am
HB II: 1506
Th Jul 30 Term review/catch up
M Aug 10 Final exam (Respondus) Emphasis on Ch 20, 19,
23, 21, but covering
Monday, August 10, 2020 entire course
8:30 – 10:30 am
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6 Assessments
6.1 Marking Schemes & Distributions
Name Scheme A (%)
Open Book WileyPlus Assignments 5
Midterm Exam 1 20
Data Analytics Assignment 10
Midterm Exam #2 20
Group Assignment 10
Final Exam 35
Total 100
6.2 Assessment Details
Open Book WileyPlus Assignments (5%)
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Date: WileyPlus
Learning Outcome: 1, 2, 3
Assignments (WileyPlus required) are similar to the questions discussed in class. They will
be done on-line using WileyPlus. You have three attempts for each question. If you miss a
deadline for whatever reason, the assignment will be recorded as zero. There is no re-
weighting of marks for assignments
Midterm Exam 1 (20%)
Date: Thu, Jun 4, 10:30 AM - 12:00 PM, Respondus
Learning Outcome: 1, 2, 3
Data Analytics Assignment (10%)
Due: Thu, Jun 25, 11:59 PM, Dropbox
Learning Outcome: 1, 2, 3, 5
The data analytics assignments will be done individually and will consists of online quizzes
and a data manipulation and visualization exercise in Excel.
Your solution should be submitted to the drop box for ACCT 3340 in Courselink (Courselink
automatically subjects all submissions to checks for plagiarism, etc., via turnitin.com).
Groups are welcome to discuss the assignments with peers, however each student must
submit an original, unique response
Midterm Exam #2 (20%)
Date: Tue, Jul 7, 10:30 AM - , 12:00 PM, Respondus
Learning Outcome: 1, 2, 3
Group Assignment (10%)
Due: Thu, Jul 16, 11:59 PM
Learning Outcome: 1, 2, 3, 4, 5
The group written assignment will provide you and your group members (no more than 3
students in a group) with an opportunity to delve more deeply into the selected topic areas
in the course. The assignment will include some less directed elements and will require
demonstration of strong writing and organizing skills.
One solution (per group) should be submitted to the drop box for ACCT 3340 in Courselink
(Courselink automatically subjects all submissions to checks for plagiarism, etc., via
turnitin.com). Groups are welcome to discuss the assignments with members of other
groups, however each group must submit an original, unique response.
Final Exam (35%)
Date: Mon, Aug 10, 8:30 AM - 10:30 AM, Respondus
Learning Outcome: 1, 2, 4, 5
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7 Course Statements
7.1 Missed Midterms and Assignments Due Dates
The only valid reasons for missing a test or due date involve uncontrollable circumstances
(refer to academic consideration below). Scheduling conflicts that are/were foreseeable
and/or which merely create inconveniences for students (i.e., vacation plans, dinner
reservations, etc.) do not qualify as valid reasons to miss an exam/test or an assignment due
date.
IF YOU ARE ILL AT THE TIME OF A MIDTERM EXAM YOU ARE REQUIRED TO COMMUNICATE
(VIA EMAIL) ANY ILLNESS TO YOUR INSTRUCTOR BEFORE THE EXAM. The email
communication should be sent to your instructor before the exam time and should include
the following information: full name, student number, course code, section and your
explanation for missing the exam. Should you be excused from a midterm exam for
legitimate reasons (i.e., religious holiday, medical condition, etc.) the marks of the midterm
exam will be allocated to the final exam.
All assignments must be submitted on the due date. If assignments are handed in late, 20%
of the total marks will be deducted for every day they are late (including weekends). The end
of the day is midnight. Assignments handed in after midnight on any given day will be
considered to be another day late.
7.2 Re-grading of Assignments and Exams
If you are dissatisfied with a mark you earn on a paper or exam you have the option of having
your work re-graded. However, the following procedure must be followed: Within 7 working
days of the marks being posted or handed back, submit to the professor a one-page email
explaining why you think your work should be re-graded. The document should include a
detailed argument outlining why you think your grade should be higher and include all
pertinent information that you believe bears on your case. If you decide to submit your
exam/assignment for re-grading, the entire document may be re-evaluated. Keep in mind that
the re-grade is meant for mistakes in grading.
Requests regarding re-weighting of marks allocated due to a poor performance on an
assignment, exam or quiz will not be considered.
7.3 Group Work
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The ability to work in teams is a BComm Program Learning Outcome and core CPA
competency. One of the goals of the group simulation assignment is to provide students with
the experience of managing a substantial project so that you develop these competencies. As
such, it expected that all group members pull their weight in their groups.
Releasing Group Members. Group members who do not pull their weight will be allowed to be
released by the group. This must be done in consultation with the professor and evidence of
the member’s repeated failure to participate adequately must be provided. For example, two
unanswered emails to a non-participating group member, or two “reprimanding” emails to a
group member who fails to honour their project-related obligations, will suffice. In lieu of
participating in the group project, released members will be required to write a 2,000 word
paper on the importance of working as a team member in the accounting profession in
addition to the original task submission. The tasks submission automatically receives a
penalty of 25%, thus the maximum grade attainable on that task submission is 75% which will
be awarded in place of that task of the group simulation grade. This is a very serious issue.
Groups dealing with unreliable, uncooperative or otherwise difficult or unprofessional group
members are advised to speak with the professor as soon as possible so that more
constructive options can be considered. Fired group members will not be permitted to join
another group and therefore must complete the remainder of the group simulation tasks
individually.
8 University Statements
8.1 Email Communication
As per university regulations, all students are required to check their e-mail account regularly:
e-mail is the official route of communication between the University and its students.
8.2 When You Cannot Meet a Course Requirement
When you find yourself unable to meet an in-course requirement because of illness or
compassionate reasons please advise the course instructor (or designated person, such as a
teaching assistant) in writing, with your name, id#, and e-mail contact. The grounds for
Academic Consideration are detailed in the Undergraduate and Graduate Calendars.
Undergraduate Calendar - Academic Consideration and Appeals
https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-ac.shtml
Graduate Calendar - Grounds for Academic Consideration
https://www.uoguelph.ca/registrar/calendars/graduate/current/genreg/index.shtml
Associate Diploma Calendar - Academic Consideration, Appeals and Petitions
https://www.uoguelph.ca/registrar/calendars/diploma/current/index.shtml
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8.3 Drop Date
Students will have until the last day of classes to drop courses without academic penalty. The
deadline to drop two-semester courses will be the last day of classes in the second semester.
This applies to all students (undergraduate, graduate and diploma) except for Doctor of
Veterinary Medicine and Associate Diploma in Veterinary Technology (conventional and
alternative delivery) students. The regulations and procedures for course registration are
available in their respective Academic Calendars.
Undergraduate Calendar - Dropping Courses
https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-drop.shtml
Graduate Calendar - Registration Changes
https://www.uoguelph.ca/registrar/calendars/graduate/current/genreg/genreg-reg-
regchg.shtml
Associate Diploma Calendar - Dropping Courses
https://www.uoguelph.ca/registrar/calendars/diploma/current/c08/c08-drop.shtml
8.4 Copies of Out-of-class Assignments
Keep paper and/or other reliable back-up copies of all out-of-class assignments: you may be
asked to resubmit work at any time.
8.5 Accessibility
The University promotes the full participation of students who experience disabilities in their
academic programs. To that end, the provision of academic accommodation is a shared
responsibility between the University and the student.
When accommodations are needed, the student is required to first register with Student
Accessibility Services (SAS). Documentation to substantiate the existence of a disability is
required; however, interim accommodations may be possible while that process is underway.
Accommodations are available for both permanent and temporary disabilities. It should be
noted that common illnesses such as a cold or the flu do not constitute a disability.
Use of the SAS Exam Centre requires students to book their exams at least 7 days in advance
and not later than the 40th Class Day.
For Guelph students, information can be found on the SAS website
https://www.uoguelph.ca/sas
For Ridgetown students, information can be found on the Ridgetown SAS website
https://www.ridgetownc.com/services/accessibilityservices.cfm
8.6 Academic Integrity
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The University of Guelph is committed to upholding the highest standards of academic
integrity, and it is the responsibility of all members of the University community-faculty, staff,
and students-to be aware of what constitutes academic misconduct and to do as much as
possible to prevent academic offences from occurring. University of Guelph students have
the responsibility of abiding by the University's policy on academic misconduct regardless of
their location of study; faculty, staff, and students have the responsibility of supporting an
environment that encourages academic integrity. Students need to remain aware that
instructors have access to and the right to use electronic and other means of detection.
Please note: Whether or not a student intended to commit academic misconduct is not
relevant for a finding of guilt. Hurried or careless submission of assignments does not excuse
students from responsibility for verifying the academic integrity of their work before
submitting it. Students who are in any doubt as to whether an action on their part could be
construed as an academic offence should consult with a faculty member or faculty advisor.
Undergraduate Calendar - Academic Misconduct
https://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-
amisconduct.shtml
Graduate Calendar - Academic Misconduct
https://www.uoguelph.ca/registrar/calendars/graduate/current/genreg/index.shtml
8.7 Recording of Materials
Presentations that are made in relation to course work - including lectures - cannot be
recorded or copied without the permission of the presenter, whether the instructor, a student,
or guest lecturer. Material recorded with permission is restricted to use for that course unless
further permission is granted.
8.8 Resources
The Academic Calendars are the source of information about the University of Guelph’s
procedures, policies, and regulations that apply to undergraduate, graduate, and diploma
programs.
Academic Calendars
https://www.uoguelph.ca/academics/calendars
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