AN AL YT IC AL I NSI GH T, GL O BAL L E AD ER S

Intermediate Accounting I
MGMT 35000 001 Fall 2012

Professor: Telephone: Office Hours:

Troy Janes Office: 494-4456 E-mail: Monday, 9:00-10:00am Course Website: Tuesday, 1:30-2:30pm Thursday, 3:30-4:30pm You may also drop by or e-mail anytime.

KRAN 433 tjanes@purdue.edu Katalyst

Course Objective
Intermediate Accounting I is the first course in the financial accounting sequence. Together with Intermediate Accounting II, this course provides the core of financial reporting knowledge that you will use throughout your academic and professional accounting careers. In this course, we will review the accounting cycle and the four primary financial statements. We will further examine revenue recognition and asset valuation/allocation in depth. Although the uniform CPA examination is the not the focus of this course, you may expect all of the subjects covered in this course to appear on the CPA exam.

Class Structure
Classes will be a combination of lecture, problem solving, and participation. Only through a joint effort can we understand the complex material presented in this course. For class time to be productive, it is imperative that you study the assigned textbook chapters prior to attending class. In class, we will review the primary issues discussed in each chapter and work in-class problems. Homework problems are assigned to allow you additional practice on these accounting techniques.

Texts
Intermediate Accounting 14th Edition, by Kieso, Weygandt, and Warfield. ISBN 978-0-470-91783-1 (binder) or 978-0-470-58723-2 (hardcover). Popular Business Press, such as the Wall Street Journal, Fortune, Business Week, and online services such as CBS.Marketwatch.com; money.cnn.com; cnbc.com (optional)

Intermediate Accounting I
MGMT 35000 001 Fall 2012

Grading
Grades will be based on your performance on exams and assignments which are described in greater detail in the following sections. These items will be weighted as follows: Attendance/Participation Homework Research Case Midterm Exam #1 Midterm Exam #2 Final Exam Total 2% 13% 5% 24% 24% 32% 100% 10 pts. 52 pts. 20 pts. 100 pts. 100 pts. 130 pts. 412 pts.

The possible points listed above will be adjusted downward to reflect the highest score earned. For example, if the high score earned on Exam #1 is 90, the possible points will adjusted from 100 to 90. A final grade of A will be given to students whose total points earned is greater than or equal to 90% of the adjusted possible points; 80% for a B; 70% for a C; and 60% for a D. Total scores less than 60% of the total will receive a failing grade. Plusses and minuses (e.g. B+/B-) will be added to the top and bottom third of each grade range.

Attendance/Participation
Since learning is best achieved in an interactive environment, I would like to know who you are. Therefore, your first homework assignment is to place information about yourself on an index card (e.g. name, major/minor, hometown, career goal, prior accounting experience, anything else you want me to know). Please turn in your card by Wednesday, August 22. It has been my experience that students that regularly attend class do better than those that dont. Therefore, class attendance is strongly encouraged, and some of your grade will be based on attendance and participation. Attendance and participation points will be earned by participating in pop quizzes that will be given during the semester. The quizzes are intended to help you and me get a feel for how well the material we are covering is being understood. The quizzes will not be graded. Students are also encouraged to get involved in Krannert accounting functions. These include Beta Alpha Psi and/or Accounting Society guest speaker meetings as well as other relevant events (I will announce those in class). Attendance at a Krannert accounting function may be used to make-up a total of two missed homework assignments or attendance pop quizzes. To receive credit for attending an event, please write one or two paragraphs about the event and submit it to me within one week after attending.

Intermediate Accounting I
MGMT 35000 001 Fall 2012

Homework
Homework assignments are given to help students understand accounting by doing accounting. You will not be able to master the material covered in this course simply by attending lectures (although I am a pretty good lecturer). Additionally, exercises and multiple choice questions assigned as homework will be representative of material included on exams. Homework assignments from will be due at the beginning of the class session after we finish covering the material as indicated on the Class Schedule. Homework assignments will be graded for completion and effort, not correctness (i.e. if you do it, but do it wrong, you still get credit). Late homework assignments will not be accepted. You may work on homework assignments with others, but each student must submit their own assignment. Solutions to homework problems will be posted on Katalyst after the assignment is collected.

Research Case
The computer-based CPA Exam contains cases that require test takers to use accounting knowledge and authoritative literature to address proper accounting treatments. Regardless of whether the CPA Exam is in your future, the ability to research proper accounting methods is critical. To provide some exposure to such research, students will be required to complete a short research assignment. The assignment will be graded on writing as well as accounting content. Details will be provided in class on August 22. You may work on the case with others, but each student must write their own report. The project is due in my office by 6pm on Thursday, December 6.

Exams
There will be three exams given in this course. The two midterm exams are scheduled in the evening as indicated on the Class Schedule. The final exam will be given as scheduled by the university. The final exam is comprehensive. Exams may consist of essay questions, long comprehensive problems, short specific problems, and multiple choice questions. A simple calculator is allowed (but nothing that you can enter text into). You may not use your cell phone as a calculator.

Academic Integrity
Cheating will not be tolerated. As indicated previously, you may work on homework and the research case with other students. Exams, of course, are an individual endeavor. Any student caught cheating on an exam or submitting work written by others for the research assignment will receive a failing grade for the course. Sharing information with others about material on exams or communicating with others during an exam is considered cheating. In accordance with University policy, all instances of academic dishonesty will be reported to the Office of the Dean of Students and may subject to University discipline. Please take the time to review information on the Universitys academic integrity policy at http://www.purdue.edu/odos/osrr/academicintegritybrochure.php .

Intermediate Accounting I
MGMT 35000 001 Fall 2012

Course Schedule
Date Aug 20 -----------Aug 22 Topic Introduction -------------------------Accounting Standards Reading ----------------Chapter 1 Homework Index Card -------------------CA1-2, CA1-9, CA1-10, CA1-11, CA1-13, Q4, 7, 12, 16, E2-7, CA2-4 Q1, 3, 7, 18, BE3-2, BE3-13, E3-8, E3-14 HW Due 8/22

8/27 9/3 9/10

Aug 27 Aug 29

Conceptual Framework of Accounting Accounting Systems

Chapter 2 Chapter 3 (skip App. B & C)

Sept 3 Sept 5 Sept 10

NO CLASS Labor Day Income Statement Chapter 4 Q3, 7, 10, 12, E4-8, E4-14, CA4-4, IFRS4-5 (p. 208) Q2, 6, 9, E5-11, E5-18, Financial Reporting Problem (p. 296), IFRS5-5 (p. 306)

9/17

Sept 12 Sept 17

Balance Sheet & Cash Flow Statement

Chapter 5

9/24

Sept 19 Sept 24 Sept 25 Sept 26 Oct 1

NO CLASS Midterm Exam #1 (Ch. 1-5) Time Value of Money Revenue Recognition

8:00 -9:30pm Chapter 6 Chapter 18

Location: ME 1061; EE 170 Q1, E6-4, E6-5, E6-9, P61, P6-6 BE18-2, BE18-8, BE18-9, E18-7, E18-11, E18-12, E18-24

10/1 10/10

Oct 3 Oct 8 Oct 10

NO CLASS Fall Break Cash & Accounts Receivable

Chapter 7

Q2, 5, 8, BE7-1, E7-14, E7-21, P7-2, P7-3, P7-15, Fin Rptg Prob (p. 422) Q18, E8-1, E8-3, E8-9, E814, E8-26, P8-7 E9-10, E9-14, P9-2, Comparative Analysis Case (p. 541)

10/17

Oct 15 Oct 17 Oct 22 Oct 24

Inventory Valuation

Chapter 8

10/24

Inventories: Additional Issues

Chapter 9

11/1

Oct 29
4

Intermediate Accounting I
MGMT 35000 001 Fall 2012
Oct 31 Nov 1 Nov 5 NO CLASS Midterm Exam #2 (Ch. 18, 6-9) Noncurrent Assets Acquisition & Disposal 8:00-9:30pm Chapter 10 Location: PHYS 114 Q6, 10, 19, 22, 23, BE101, E10-4, E10-9, E10-16, E10-19, E10-22

11/14

Nov 7 Nov 12 Nov 14

Noncurrent Assets Depreciation & Impairment

Chapter 11

Q3, 14, 16, 17, 28, E11-6, E11-9, E11-11, E11-22, P11-9, IFRS11-14(p. 661)

11/28

Nov 19 Nov 21 Nov 26 Nov 28

NO CLASS -- Thanksgiving Intangible Assets Chapter 12 Q3, 12, 16, E12-8, E12-10, E12-13, P12-5, Financial Reporting Problem (p. 708)

12/5

Dec 3 Dec 5

Catch-up and Review

Dec 6: Research Case due

Dec 10-15

Final Exam Time and Location TBD Note: This schedule is subject to change. Any changes will be communicated in class and posted on Katalyst.