Foothill CollegeApproved Course Outlines

Business and Social Sciences Division
4 hours lecture.4 Units

Total Quarter Learning Hours: 48 (Total of All Lecture, Lecture/Lab, and Lab hours X 12)
 Lecture Hours: 4 Lab Hours: Lecture/Lab:
 Note: If Lab hours are specified, see item 10. Lab Content below.

Repeatability -
Statement: Not Repeatable.

Status -
 Course Status: ActiveGrading: Letter Grade with P/NP option
 Degree Status: ApplicableCredit Status: Credit
 Degree or Certificate Requirement: AA Degree
 GE Status: Non-GE

Articulation Office Information -
 Transferability: CSUValidation: 12/13/10; 2/1/2012

1. Description -
Accounting for Investments, income taxes, pensions and post-retirement benefits, leases, and accounting changes and error analysis; also covered, the cash flows statement, and full disclosure in financial Reporting.
Prerequisite: ACTG 1B.
Co-requisite: None
Advisory: None

2. Course Objectives -
Student will be able to:
  1. research the relevant financial accounting standard (s) as they relate to questions, problems, or other accounting issues.
  2. apply financial accounting standards in solving problems and cases.
  3. present financial statements, including appropriate disclosures, as required by the related financial accounting standards.
  4. account for Investments, Income Taxes, Pensions and Post-retirement Benefits, Leases, and Accounting Changes and Error Analysis.
  5. describe the direct and indirect effect (s) of transactions on the Financial Statements and their elements.
  6. Describe the purpose and presentation of the Cash Flows Statement and Disclosures in Financial Reporting.
3. Special Facilities and/or Equipment -
Access to spreadsheet, word-processing, and presentation software. When taught as an online distance learning section, students and faculty need reliable and ongoing Internet(java-enabled)and Email access.

4. Course Content (Body of knowledge) -
  1. Investments
    1. Held-to-maturity Securities
    2. Available for Sale Securities
    3. Trading Securities
    4. Impairment
    5. Derivative Instruments (Hedging)
  2. Income Taxes
    1. Fundamentals
    2. Interperiod Tax Allocation
  3. Pensions and Post-retirement Benefits
  4. Leases
    1. Lessee Perspective
    2. Lessor Perspective
    3. Sales-Lease-Backs
  5. Accounting Changes and Error Analysis
    1. Changes in Accounting Principle
    2. Changes in Accounting Estimate
    3. Reporting of Change in Entity
    4. Reporting a Correction of an Error
    5. Error Analysis
  6. Cash Flows Statement
  7. Full Disclosure Requirements in Financial Reporting
    1. Principles
    2. Notes to Financial Statements
    3. Disclosure Issues
    4. Auditor's and Management's Reports
5. Repeatability - Moved to header area.
6. Methods of Evaluation -
  1. Midterm Exam (s)
  2. Final Exam
  3. Quizzes
  4. Projects
  5. Computerized Assignments
  6. Research Activities (online and traditional)
  7. Presentations (since online, powerpoint slides preparation only)
  8. Writing Assignments
  9. Student Participation
  10. Group Work
7. Representative Text(s) -
Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield, Intermediate Accounting, 13th Edition. Wiley Publisher, 2009.

8. Disciplines -
9. Method of Instruction -
Lecture, Discussion, Cooperative learning exercises, Self-paced, Electronic discussions/chat, Independent study.
10. Lab Content -
Not applicable.
11. Honors Description - No longer used. Integrated into main description section.
12. Types and/or Examples of Required Reading, Writing and Outside of Class Assignments -
  1. Reading of corporate annual reports
  2. Reading and Written Analysis of Financial Accounting Standards Board Statements (FASB) and other Generally Accepted Accounting Principles Literature (GAAP)
  3. Reading of internet articles and writing on accounting topics or accounting-related current events and/or careers
  4. Written Research Paper or Projects
  5. Written Presentations
13. Need/Justification -
This course is a restricted support course for the AA degree in Accounting.

Course status: Active
Last updated: 2014-03-11 08:56:05

Foothill CollegeApproved Course Outlines