Intermediate Accounting B

BUS 330B Syllabus

2023-3 Summer

Subject to revision

Contact information

• Instructor: Elizabeth Stanny, PhD
• Email: stanny@sonoma.edu

Prerequisites

• BUS 330A
• Proficiency in spreadsheet software

Course format

This is an asynchronous course.

Course materials

• Textbook (optional)
  • Intermediate Accounting (10th, 11th, or 12th edition by Spiceland et al.)
    • ISBN 11th ed loose-leaf: 978-264-38744-1
• Spreadsheet Software
  • Google Sheets (required to use through SSU’s Google Drive)
• FASB ASC (Accounting Standards Codification).

Learning objectives

• Investments
  • Demonstrate how to identify and account for investments classified as held-to-maturity, trading, available-for-sale, and the equity method
  • Explain what constitutes significant influence by the investor over the operating and financial policies of the investee
  • Explain how electing the fair value option affects accounting for investments
  • Account for impairment of equity method securities
  • Discuss the fair value option
• Current liabilities and contingencies
  • Define liabilities
  • Account for the issuance and interest for notes payable
  • Account for accrued liabilities
  • Explain the accounting for contingencies
• Bonds and long-term notes
  • Account for issuance and interest using the effective interest and the straight-line methods
  • Describe disclosures for long-term debt
  • Record the early extinguishment of debt and conversion to equity
  • Discuss the option to report liabilities at fair values
• Leases
  • Determine whether an arrangement contains a lease
  • Separate lease and non-lease components of a contract
  • Account for a lease from the perspectives of the lessee and the lessor
• Income taxes
  • Account for temporary differences between financial and tax statements
  • Explain why permanent differences do not affect financial statements
  • Describe when and how a valuation allowance is needed for deferred tax assets
  • Account for changes in the tax rates
  • Discuss the presentation and disclosure of deferred tax amounts
  • Account for uncertainty in income tax amounts
• Pensions and post-retirement benefits
  • Discuss differences between defined contribution and defined benefit pension plans
  • Define differences in pension obligations: vested benefit obligation (VBO), the accumulated benefit obligation (ABO), and the projected benefit obligation (PBO)
  • Describe the events that affect the PBO
  • Define the funded status of pension plans and how it is reported
  • Compute and record pension expense
  • Discuss the post-retirement benefits obligation
  • Describe components of the post-retirement benefit expense
• Shareholders’ equity
  • Describe shareholders’ equity accounts
  • Record the issuance of stock
  • Account for share buybacks
  • Account for different types of dividends
• Share-based compensation and earnings per share
  • Account for restricted stock plans, stock options, and employee stock plans
  • Account for basic and diluted EPS
• Accounting changes and error corrections
  • Discuss three types of accounting changes
  • Describe what constitutes a change in reporting entity
  • Correct reporting errors
• The statement of cash flows
  • Explain the usefulness of the statement of cash flows
  • Compute cash flows from operating activities using the indirect methods
  • Compute cash flows from investing and financing activities using the direct method
  • Identify transactions that are classified as financing activities
  • Prepare a statement of cash flows
• Analyze public companies’ annual reports (10-Ks)
• Research topics using the ASC (Accounting Standards Codification)

Schedule

Date	Topic	Quiz	Closes at	Textbook
Jun 28	1: Investments	1	5 PM	Ch 12
Jun 30	2: Current Liabilities and Contingencies	2	5 PM	Ch 13
Jul 3	3: Bonds and Long-Term Notes	3	5 PM	Ch 14
Jul 5	4: Leases	4	5 PM	Ch 15
Jul 7	5: Accounting for Income Taxes	5	5 PM	Ch 16
Jul 10	6: Pensions and Other Post-retirement Benefits	6	5 PM	Ch 17
Jul 12	7: Accounting Changes and Error Corrections	7	5 PM	Ch 18
Jul 14	8: Shareholders’ Equity	8	5 PM	Ch 19
Jul 17	9: Share-Based Compensation and Earnings Per Share	9	5 PM	Ch 20
Jul 19	10: The Statement of Cash Flows	10	5 PM	Ch 21
Jul 21	Exam (Topics 1-10)		5 PM

Grading

There are 1000 possible points in the course. Your total points will determine your grade:

Grade	Points
A	950
A-	900
B+	870
B	830
B-	800
C+	770
C	730
C-	700
D+	670
D	600

Quizzes - 320 points

• There are ten quizzes. Each quiz is worth 40 points.
  
• Your two lowest scores will be dropped (max points = 8 x 40 = 320)
• Questions will be short-answer, numerical, and multiple-choice.
• You can attempt each quiz twice, and you will receive the highest grade scored.
• There will be multiple versions of quizzes. You can work with others on the quizzes, but you must enter and understand the answers yourself. Before submitting, you can ask me for help and whether your second attempt answers are correct. When you submit your answers, you acknowledge that you can explain them.

Assignments (links to your Google Sheet) - 280 points

• For each topic 1-10, provide the link to your updated Google spreadsheet with your work and answers for your quiz.
  
• Each submission (assignment) is worth 35 points.
  
• Your two lowest scores will be dropped (max points = 8 x 35 = 280)

Exam - 400 points

• The exam is open-book, open-note. I will proxy them by monitoring your work on your shared Google Sheet.
  
• On each exam day, the exam will open at 9 AM and close at 5 PM. After you open the exam. you will have 2 hours to complete it.
• You will be required to do your work on your SSU Google Spreadsheet on the Google Drive shared with me.

In general late submissions will not be accepted. If you need an extension because of illness, mental health challenges, or family concerns, please let me know as soon as possible and provide documentation if possible. The most important thing you can do is communicate with me so I can work with you to determine your options for success.

University Policies

You should be aware of important University policies, such as the add/drop policy; cheating and plagiarism policy, grade appeal procedures; accommodations for students with disabilities, and the diversity vision statement.

Dropping and Adding

Students must understand the policies and procedures about add/drop, academic renewal, etc. How to Register has step-by-step instructions, important deadlines, and penalties for adding and dropping classes.

Campus Policy on Disability Access for Students

If you are a student with a disability and think you may need academic accommodations, please contact Disability Services for Students (DSS), located in Salazar Hall, Room 1049, Voice: (707) 664-2677, TTY/TDD: (707) 664-2958, as early as possible to avoid a delay in receiving accommodation services. Use of DSS services, including testing accommodations, requires prior authorization by DSS in compliance with university policies and procedures. See SSU’s policy on Disability Access for Students.

Academic Integrity

Students should be familiar with the University’s Cheating and Plagiarism Policy. Your commitment to learning, as evidenced by your enrollment at Sonoma State University and the University’s policy, requires you to be honest in all your academic coursework. Instances of academic dishonesty will not be tolerated. Cheating on exams or plagiarism (presenting the work of another as your own or the using another person’s ideas without giving proper credit) will result in a failing grade and sanctions by the University. For this class, all assignments are to be completed by the individual student unless otherwise specified.

Recording

Students may not record (audio or video) in this class except with ADA accommodations. Any recordings made in connection with a disability accommodation are for the student’s personal academic use only and may not be distributed in any manner to any other individual.

University services

Counseling and Psychological Services (CAPS)

CAPS is a unit of the Division of Student Affairs of Sonoma State University. CAPS offers confidential counseling to students experiencing personal problems that interfere with their academic progress, career or well-being. The CAPS website provides information only. If you would like to talk with someone or make an appointment, please call (707) 664-2153 between 8 a.m. – 5:00 p.m., Monday-Friday during the academic year.

Basic Needs

We learn as whole people. To learn effectively, you must have basic security: a roof over your head, a safe place to sleep, and enough food to eat. If you are having trouble with any of those things, please visit Student Affairs’ Basic Needs webpage for resources to support your well-being inside and outside the classroom.

Religious Observances

The observance of religious holidays (activities observed by a religious group of which a student is a member) and cultural practices are important reflections of diversity. As your instructor, I am committed to providing equivalent educational opportunities to students of all belief systems. At the beginning of the semester, you should review the course requirements to identify foreseeable conflicts with assignments, exams, or other required attendance. If possible, please contact me (your course coordinator/s) within the first two weeks of the first class meeting to allow time for us to discuss and make fair and reasonable adjustments to the schedule and/or tasks.

Fires and/or power outages

Sonoma County has seen an increase in fire activity and public safety power outages that have impacted on campus operations intermittently since 2017. If we experience a similar disruption to our course this semester, I will communicate with the class via email within 24 hours of the disruption around potential changes to assignments, due dates, or readings. If the disruption continues for more than one week of our regular class meetings, I will subsequently follow up every week. Please sign up to receive university emergency alerts by texting SSUALERTS to 67283.