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INDEPENDENT UNIVERSITY, BANGLADESH

School of Business
BBA Program Course Outline

Trimester Course Code Course Title Section


Summer 2017 ACN 305 Financial Accounting 02

INSTRUCTORS DETAILS:

Instructor: Dr. Rushdi Razzaque Class Time: ST 09:40-11:10


Assistant Professor of
Accounting Class Room: 2009

Office: 4006 Office Hours: ST: 11:10 - 17:00.


MW: 11:10 - 17:40.
Email: rushdi@iub.edu.bd
Thursday: By appointment through email only

My SB Address: http://103.254.86.4/sb/course/view.php?id=85

COURSE DESCRIPTION:
This course is designed to provide comprehensive knowledge on the liability sides of the accounting
equation. The discussion will cover from recognition and measurements of a particular liability to the
presentation and disclosure of that liability in the financial statements. Topics include
1. Current and Contingent Liabilities
2. Long-term Liabilities
3. Issue of Shares
4. Earnings and its Appropriation and Retention
5. Earnings Per Share Calculation
6. Accounting for VAT.
7. Accounting for Leases
8. Accounting Changes and Error Analysis
9. Financial Statement Analysis

PREREQUISITE (IF ANY):


ACN 301 (Intermediate Accounting)

COURSE POLICY:
1. It is the students responsibility to gather information about the assignments and covered topics
during the lectures missed. Regular class attendance is mandatory. Points will be taken off for missing

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classes. Without 70% of attendance, sitting for final exam is NOT allowed. According to IUB system
students must enter the classroom within the first 20 minutes to get the attendance submitted.
2. The date and syllabus of quiz, midterm and final exam is already given here, however, announcements
will be given ahead of time. There is NO provision for make-up quizzes.
3. The reading materials for each class will be given prior to that class so that student may have a
cursory look into the materials.
4. Class participation is vital for better understanding of sociological issues. Students are invited to raise
questions.
5. Students should take tutorials with the instructor during the office hours. Prior appointment is
required.
6. Students must maintain the IUB code of conduct and ethical guidelines offered by the School of
Business.
7. Students must refrain from any type of cheating and/or plagiarism in a course. Any student acting
otherwise will receive an F grade in the course. School of Business, IUB, maintains a zero tolerance
policy regarding violation of academic integrity.

8. Students are not allowed to keep bags, handouts, books, mobile phones, smart watches or any other
smart electronic devices with them during any exam. Students are advised to keep everything in the
front of the class room before the exam starts. Please note that, just carrying any smart electronic
devises (even if the devise is turned off or put it in silent mode) during the exam will be considered
as cheating. Moreover, during the exam, anything written on hand palms (or anywhere else) and
carrying paper materials (whatever is written) will be considered as cheating. Any sorts of
cheating will result in an F grade with no exception. During the exam, students are only allowed
to carry pen, pencil, eraser, sharpener, ruler, highlighter and calculator in a clear plastic bag.

ASSESSMENT AND MARKS DISTRIBUTION:

Type of Evaluation Nos. Weight


Class Attendance and Participation 100% 5
Quiz (Best Two scores will be counted) 3 15
Projects 01 10
Midterm Exam 01 30
Final Exam 01 40
Total 100%

[Class attendance is mandatory; failure to do so may deduct the final marks]

GRADE CONVERSION SCHEME:


The following chart will be followed for grading. This has customized form the guideline provided by the
school of Business.

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A A- B+ B B- C+ C C- D+ D F
90-100 85-89 80-84 75-79 70-74 65-69 60-64 55-59 50-54 45-49 0-44

* Numbers are inclusive


REQUIRED TEXT:
The course will be based mostly on the following books [some other books and journals may be referred time
to time]:

Kieso, Weygandt and Warfield; Intermediate Accounting; 15th Edition; John Wiley & sons, Inc.

Link to virtual learning system: http://103.254.86.4/sb/ (School of Business Faculty name- Login
as a guest- password is 1234).

CLASS AND EXAM SCHEDULE, TOPIC AND READINGS:

Sessions Date Topic Learning Outcomes Readings


Session -1 07/05/17 Introduction Explanation of Course Outline Course
Sunday Outline
Course Introduction and quick
review of ACN 301 concepts. Relevant
Handouts
available
from virtual
learning
system

Current Describe the nature, type, and


Kieso,
Liabilities and valuation of current liabilities.
Weygandt
Contingencies
and
Warfield,
Chapter 13
Pages 700-
761

Session -2 09/05/2017 Current Explain the classification issues of Kieso,


Tuesday Liabilities and short-term debt expected to be Weygandt
Contingencies refinanced. and
Warfield,
Identify types of employee-related Chapter 13
liabilities.

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Pages 700-
Identify the criteria used to account 761
for and disclose gain and loss
contingencies. Relevant
Handouts
available
Relevant problem solving from text from virtual
learning
system

Session -3 14/05/17 Current Explain the accounting for different Kieso,


Sunday Liabilities and types of loss contingencies. Weygandt
Contingencies and
Indicate how to present and analyze Warfield,
liabilities and contingencies. Chapter 13
Pages 700-
Relevant problem solving from text 761

Relevant
Handouts
available
from virtual
learning
system
Session -4 16/05/2017 Long Term Describe the formal procedures Kieso,
Tuesday Liabilities associated with issuing long-term Weygandt
debt. and
Warfield,
Identify various types of bond issues. Chapter 14
Pages 762-
Describe the accounting valuation for 819
bonds at date of issuance.
Relevant
Relevant problem solving from text Handouts
available
from virtual
learning
system
Session -5 21/05/17b Long Term Apply the methods of bond discount Kieso,
Sunday Liabilities and premium amortization. Weygandt
and
Describe the accounting for the Warfield,
extinguishment of debt. Chapter 14

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Pages 762-
Explain the accounting for long-term 819
notes payable.
Relevant
Handouts
Relevant problem solving from text available
from virtual
learning
system
Session -6 23/05/2017 Long Term Describe the accounting for the fair Kieso,
Tuesday Liabilities value option. Weygandt
and
Explain the reporting of off-balance- Warfield,
sheet financing arrangements. Chapter 14
Pages 762-
Indicate how to present and analyze 819
long-term debt.
Relevant
Relevant problem solving from text Handouts
available
from virtual
learning
system
Session-7 25/05/17 Stockholders Discuss the characteristics of the Kieso,
Thursday Equity corporate form of organization. Weygandt
(Sunday and
Schedule)
Identify the key components of Warfield,
stockholders equity. Chapter 15
Pages 820-
Explain the accounting procedures 881
for issuing shares of stock.
Relevant
Handouts
Relevant problem solving from text available
from virtual
learning
system

Session -8 28/05/2017 Stockholders Describe the accounting for treasury Kieso,


Sunday Equity stock. Weygandt
and
Warfield,

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Explain the accounting for and Chapter 15
reporting of preferred stock. Pages 820-
881
Describe the policies used in
distributing dividends. Relevant
Handouts
available
Relevant problem solving from text from virtual
learning
system

Quiz 1 Chapter 13-14


Session -9 30/05/17 Stockholders Identify the various forms of dividend Kieso,
Tuesday Equity distributions. Weygandt
and
Explain the accounting for small and Warfield,
large stock dividends, and for share Chapter 15
splits. Pages 820-
881
Indicate how to present and analyze
stockholders equity. Relevant
Handouts
Relevant problem solving from text available
from virtual
learning
system
Session -10 04/06/2017 Stockholders Relevant problem solving from text Kieso,
Sunday Equity Weygandt
and
Warfield,
Chapter 15
Pages 820-
881

Relevant
Handouts
available
from virtual
learning
system

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Session -11 06/06/17 Dilutive Describe the accounting for the Kieso,
Tuesday Securities and issuance, conversion, and retirement Weygandt
Earnings per of convertible securities. and
Share Warfield,
Explain the accounting for Chapter 16
convertible preferred stock. Pages 882-
949
Contrast the accounting for stock
warrants and for stock warrants Relevant
issued with other securities. Handouts
available
from virtual
learning
system
Session -12 11/05/2017 Midterm CHAPTERS 13-15 Kieso,
Sunday Examination Weygandt
and
Warfield,
Chapter 13-
15.

Session -13 13/06/17 Dilutive Compute earnings per share in a Kieso,


Tuesday Securities and simple capital structure. Weygandt
Earnings per and
Share Compute earnings per share in a Warfield,
complex capital structure. Chapter 16
Pages 882-
Relevant problem solving from text 949

Relevant
Handouts
available
from virtual
learning
system

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Session -14 18/06/2017 Dilutive Relevant problem solving from text Kieso,
Sunday Securities and Weygandt
Earnings per and
Share Warfield,
Chapter 16
Pages 882-
949

Relevant
Handouts
available
from virtual
learning
system
Session -15 20/06/2017 Revenue Apply the revenue recognition Kieso,
Tuesday Recognition principle. Weygandt
and
Describe accounting issues for Warfield,
revenue recognition at point of sale. Chapter 18,
Pages 1040-
Apply the percentage-of-completion 1115
method for long-term contracts.
Relevant
Relevant problem solving from text Handouts
available
from virtual
learning
system
Session -16 02/07/17 Revenue Describe the installment-sales Kieso,
Sunday Recognition method of accounting. Weygandt
and
Explain the cost-recovery method of Warfield,
accounting. Chapter
Pages 18
1040-1115

Relevant problem solving from text Relevant


Handouts
available
from virtual
learning
system
Session -17 04/07/2017 Quiz 2 Chapter 16 & 18

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Tuesday

Accounting for Identify differences between pretax Kieso,


Income Taxes financial income and taxable income. Weygandt
and
Describe a temporary difference that Warfield,
results in future taxable amounts. Chapter 19
Pages 1116-
Describe a temporary difference that 1181
results in future deductible amounts.
Relevant
Explain the purpose of a deferred tax Handouts
asset valuation allowance. available
from virtual
learning
Describe the presentation of income
system
tax expense in the income statement.

Relevant problem solving from text


Session -18 09/07/17 Accounting for Identify differences between pretax
Sunday Income Taxes financial income and taxable income.
Kieso,
Describe a temporary difference that Weygandt
results in future taxable amounts. and
Warfield,
Describe a temporary difference that Chapter 19
results in future deductible amounts. Pages 1116-
1181
Explain the purpose of a deferred tax
asset valuation allowance. Relevant
Handouts
Describe the presentation of income available
tax expense in the income statement. from virtual
learning
system
Relevant problem solving from text

Session -19 11/07/2017 Accounting for Explain the nature, economic Kieso,
Tuesday Leases substance, and advantages of lease Weygandt
transactions. and
Warfield,
Chapter 21

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Describe the accounting criteria and Pages 1268-
procedures for capitalizing leases by 1341
the lessee.

Contrast the operating and Relevant


capitalization methods of recording Handouts
leases. available
from virtual
Relevant problem solving from text learning
system

Session -20 16/07/17 Accounting for Explain the advantages and Kieso,
Sunday Leases economics of leasing to lessors and Weygandt
identify the classifications of leases and
for the lessor. Warfield,
Chapter 21
Describe the lessors accounting for Pages 1268-
direct-financing leases. 1341

Identify special features of lease Relevant


arrangements that cause unique Handouts
accounting problems. available
from virtual
Relevant problem solving from text learning
system

Session -21 18/07/2017 Accounting Describe the effect of residual values, Kieso,
Tuesday for Leases guaranteed and unguaranteed, on Weygandt
lease accounting. and
Warfield,
Describe the lessors accounting for Chapter 21
sales-type leases. Pages 1268-
1341
List the disclosure requirements for
leases. Relevant
Handouts
available
Relevant problem solving from text from virtual
learning
system

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Session -22 23/07/17 Accounting Relevant problem solving from text Kieso,
Sunday for Leases Weygandt
and
Warfield,
Chapter 21
Pages 1268-
1341

Relevant
Handouts
available
from virtual
learning
system
Session -23 25/07/17 Quiz 3 Chapter 21
Tuesday
Accounting Identify the types of accounting Kieso,
Changes and changes. Weygandt
Error Analysis and
Describe the accounting for changes Warfield,
in accounting principles. Chapter 22
Pages 1342-
Understand how to account for 1409
retrospective accounting changes.
Relevant
Relevant problem solving from text Handouts
available
from virtual
learning
system
Session -24 30/07/17 Accounting Understand how to account for Kieso,
Sunday Changes and impracticable changes. Weygandt
Error Analysis and
Describe the accounting for changes Warfield,
in estimates. Chapter 22
Pages 1342-
Identify changes in a reporting entity 1409

Relevant problem solving from text Relevant


Handouts
available
from virtual

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learning
system
Session -25 01/08/17 Accounting Describe the accounting for Kieso,
Wednesday Changes and correction of errors. Weygandt
Error Analysis and
Identify economic motives for Warfield,
changing accounting methods. Chapter 22
Pages 1342-
Analyze the effect of errors. 1409

Relevant
Relevant problem solving from text Handouts
available
from virtual
learning
system
Session -26 As per IUB Final Exam Chapters 18, 19, 21, 22 Kieso,
Examination Weygandt
Schedule and
Warfield,
Chapters
18, 19, 21,
22

AUDIT:
Students who are willing to audit the course are welcome during the first two classes and are advised to
contact the instructor after that.

NOTE:
Plagiarism- that is the presentation of another persons thoughts or words as though they were the students
own must be strictly avoided. Cheating and plagiarism on exam and assignment are unacceptable.

UNIVERSITY REGULATION AND CODE OF CONDUCT:


Please see the green book for further information about academic regulation and policies, including
withdrawal and grading, apples and penalties for pilgrims and academic misconduct.

STUDENTS WITH DISABILITIES:


Students with disabilities are required to inform the School of Business/ Department of Economics of any
specific requirement for classes or examination as soon as possible.

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