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Course Description
This course explores advanced financial accounting topics not covered in detail in the Junior Core. It
begins with an introduction to governmental and non-profit accounting and then proceeds to its main
subject, accounting for business combinations and consolidated financial statements. Next we look at
accounting for partnerships. Finally, we will spend a few days on current topics and new accounting
standards.
Course Objectives
This course will cover a variety of current advanced financial accounting topics. It focuses more on
thought processes used in solving complex accounting issues than memorizing correct answers. The
objectives of this course are to help students to:
1. Understand technical accounting issues and apply that knowledge to realistic situations,
2. Work well in teams through discussions and experiences both in and out of class, and
3. Understand current developments related to new financial accounting standards.1
I believe the critical thinking and analytical skills you learn in this class will be useful in many aspects of
your career and personal life.
Textbook
Advanced Financial Accounting, 9th Edition, by Baker, Christensen, and Cottrell [McGraw-Hill/Irwin,
2011]
Homework: I have assigned reading from one or more chapters in the textbook for you to read and
practice problems for you to do each day. Like all of the financial accounting classes you have taken, each
day’s material will build on what you learned in the previous class. For this reason it is important that you
keep up with the reading assignments or you will fall behind very quickly. In order to help you stay
“motivated,” you will submit some or all of your answers to the assigned homework problems before
each class period. The homework solutions will be submitted via Blackboard and must be submitted
before 7:30 AM on the class day the problems are assigned. Late homework will not be accepted but
we will drop your two lowest homework scores.
In-Class Quizzes: We will have in-class quizzes frequently and they may not always be announced in
advance. The purpose of individual quizzes is to assess your understanding of material covered in prior
classes and they will usually be given at the beginning of class. The purpose of group quizzes is to allow
you to practice skills we are learning that day. Group quizzes will generally be given during the class
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Course objectives 1, and 3 relate to the Marriott School of Management’s (MSM’s) learning objective 4 (proficiency in the
subject matter), while course objective 2 relates to the MSM’s learning objective 1 (working in groups).
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period. There will also be quizzes on lectures given by guest speakers. Make-up quizzes will not be
allowed, but we will drop your lowest quiz score at the end of the semester.
Exams: We will take four exams related to the material we will cover in class. The first three exams will
be administered in the testing center to allow you to study for and take the exams at your convenience. If
you keep up with daily assignments, preparation for the exams should not be difficult. We will cancel one
class period per exam to allow you to take the exam. The fourth exam, which will NOT be cumulative,
will be administered in your assigned classroom during the regularly scheduled final exam period for each
section.
Governmental Case: We are working with a small city in Utah to develop a hands-on learning
experience for you. The case will require you to perform journal entries and prepare governmental
financial statements among other things. All transactions and accounts will be based on actual data from
the city. We hope it will give you a better understanding of governmental accounting.
Participation: Your participation score will be partially evaluated by your group members and partially
determined by your instructor. The group portion will depend on your contribution to group learning
experiences, in-class quizzes, and out-of-class study sessions. Your instructor will evaluate your
contributions to in-class discussions.
Your grade in the course will be determined by your performance in the following areas based on their
assigned weights:
Homework 100
In-Class Quizzes 200
Exams (4) 600
Governmental Accounting Case 50
Participation 40
Course Evaluation 10
Total 1,000
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University Notices
Students are also expected to adhere to the Dress and Grooming Standards. Adherence demonstrates
respect for yourself and others and ensures an effective learning and working environment. It is the
university’s expectation, and my own expectation in class, that each student will abide by all Honor Code
standards. Please call the Honor Code Office at 422-2847 if you have questions about those standards.
Please note references to young men’s hair styles and young women’s clothing.
marriottschool.byu.edu/classroompolicies.
If you have any questions about the expectations of this class, the Marriott School, or the University,
please speak with your instructor.
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Accounting 540 - Course Schedule
Date Day Session Reading Assignment Problems Subject
Jan. 5 W 1 Syllabus Course Introduction
Jan. 19 W 4 Ch. 3, pp. 107-118, 122-133 E2-1, 3, P2-19, 23, 24 Consolidation of Less-than-Wholly-
(skim 119-121) Owned Subsidiaries (with no differential)
Jan. 24 M 5 Ch. 4, pp. 157-171 E3-1, 2, 4, 10, 11, P3- Individual Quiz 1
31, 34, 35, 36 Consolidation Worksheets, 100% owned
Jan. 26 W 6 Ch. 4, pp. 171-181 E4-2, 3, 4, 10 Individual Quiz 2 & Group Quiz 2
Consolidation of Wholly Owned
Subsidiaries Acquired at > Book Value
Feb. 22 T 12 Ch. 7, pp. 306-322 P6-19, 23, 26, 27, 29 Individual Quiz 4
(No worksheets) Intercompany Land Transfers
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Date Day Session Reading Assignment Problems Subject
Mar. 9 W No Class
Mar. 16 W 3 Ch. 18, pp. 879-907 Bring Book Other Governmental Funds
Governmental Case Part 1
Mar. 23 W 5 Ch. 19, pp. 948-992. Skip E18-1, 2, 3, 6, 7, 8, 10, Not-for Profit Accounting
mergers & acquisitions of 11, 16 Governmental Case Part 3
NPOs, all fin. statements
sections, comprehensive
illustration, & temporary
restricted funds. Be sure to
read the summaries at the
end of each section.
Mar.28 M 6 Ch. 20, pp. 1021-1039 E19-1, 2 (only parts 3 Individual Quiz 6
& 8), 3, 5 (only part Reorganizations and Liquidations
1), 6, 8 (only parts 7 &
10), 10, 11