Print Version

Effective: Summer 2013

Prerequisites: Prerequisite: ACTG 1B.
Grade Type: Letter Grade, the student may select Pass/No Pass
Not Repeatable.
FHGE: Non-GE Transferable: CSU
4 hours lecture. (48 hours total per quarter)

Student Learning Outcomes -
  • Formative and/or summative assessments, including representative problems from chapters/topics covered in the class.
  • explain financial accounting terminology, principles, concepts, methods, and /or procedures ? at intermediate level
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.

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.
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.

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
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
Representative Text(s) -
Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield, Intermediate Accounting, 13th Edition. Wiley Publisher, 2009.

Disciplines -
Method of Instruction -
Lecture, Discussion, Cooperative learning exercises, Self-paced, Electronic discussions/chat, Independent study.
Lab Content -
Not applicable.
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