Int. 2 class schedule

Accounting 305
CLASS SCHEDULE*
Spring 2018

*The dates outlined in the course schedule are tentative. In some cases we may complete coverage of particular subject matter ahead of schedule and at other times more difficult material might take longer to disseminate than expected. Again, should you fail to attend a particular class due to circumstances beyond your control please contact a classmate to obtain notes and missed assignments.

DATE	TOPIC	READINGS¹	ASSIGNMENTS
January 29	Course Introduction and Introduction to Business Activity Model (BAM) Inventories: Additional Issues - Lower of Cost or Market	FASB ACS 720-15 Start-Up Costs Chapter 9, pp. 464-472.	Professor will demonstrate how teams should ask the client questions about specific aspects of its financial statement presentation. For example, (this is a freebee) "Is an allowance for doubtful accounts needed, i.e., are all of your receivables considered collectible?" Other hints are to look at supplies, start-up and licensing costs, maintenance contracts, lease agreements, common stock information, EPS, statement of cash flows. Please watch a FASB Codification tutorial such as: https://www.youtube.com/watch?v=lLNPUDUWkSg. Complete Problems 9-1 and 9-3, and have questions prepared for Jerry Loos, for next class.
January 31	BAM Year 1 Inventories: Additional Issues - Lower of Cost or Market	Chapter 9, pp. 464-472.	Read Chapter 20, pp. 1,174-1,181 and complete Problems 20-13 and 20-15 for next class. Also, BAM teams please prepare a set of questions to query the client in next class.
February 5	Accounting Changes and Error Corrections	Chapter 20, pp. 1,174-1,181	Student teams will query client on specifics of Year 1 financial statements. We will also go over the solution to Problems 20-13 and 20-15. Read Chapter 14 pp. 770-784 and prepare BAM Year 1 correcting entries for next class.
February 7	BAM Year 1 Bonds	Chapter 14, pp. 770-784.	Each group will present correcting entries that it determines are necessary from evaluating client responses to questions posed in the previous class. We will also discuss Chapter 14, pp. 770-784. For next class, complete Problems 14-1 and 14-2, and read Chapter 14, pp. 793-798.
February 12	BAM Requirement 3 Bonds	Chapter 14, pp. 793-798.	We will go over the solution to Problems 14-1 and 14-2 in class. Prepare a complete set of corrected financial statements, supplementary disclosures, and backup documentation for Year 1, and complete Problem 14-15 for next class.
February 14	BAM Requirements 3-4 Bonds	Chapter 14, pp. 793-798.	Each group will present a complete set of corrected financial statements, supplementary disclosures, and backup documentation for Year 1. We will also go over Problem 14-15. Prepare a solution (as individuals, not as a team) to BAM truck financing decision, complete Problem 14-19, and read Chapter 14, pp. 803-808 for next class.
February 19	Troubled Debt Restructurings	Chapter 14, pp. 803-808.	We will go over the solution to BAM truck financing decision and Problem 14-19 in class. We will also discuss troubled debt restructurings. Prepare questions for Jerry Loos related to his Year 2 financial statements and complete Problem 14-26 for next class.
February 21	BAM Requirement 3 Troubled Debt Restructurings	Chapter 14, pp. 803-808. BAM Requirement 3	Student teams will query the client on the Year 2 Aguamaint financial statements (Req. 3). We will also go over the solution to Problem 14-26 in class. Read Chapter 12, pp. 642-660 and BAM teams prepare correcting entries for BAM year 2 for next class.
February 26	BAM Requirement 4 Accounting for Investments	Chapter 12, pp. 642-660	Student teams will present their correcting entries to Aguamaint's Year 2 financial statements in class. We will also commence our discussion of the accounting for investments as presented in Chapter 12, pp. 642-660. Tax correcting entries for BAM year 2 due next class. Also, complete Problems 12-1 and 12-2 for next class.
February 28	BAM Requirement 6 Investments	Chapter 12, pp. 642-660	Student teams will present their tax correcting entries in class. We will also go over the solution to Problems 12-1 and 12-2 in class. Complete problems 12-3, 12-4, and 12-5 and read Chapter 12, pp. 661-663 for class on March 5th. BAM Teams prepare corrected Year 2 financial statements for class on March 7th.
March 5	Investments	Chapter 12, pp. 661-663	We will go over Problems 12-3, 12-4, and 12-5. We will also discuss the fair value option and impairment of investments. BAM Teams prepare corrected Year 2 financial statements for class on March 7th. Read Chapter 12, pp. 667-680 for next class.
March 7	Investments	Chapter 12, pp. 667-680	Student teams will present their corrected Year 2 financial statements in class. We will also commence a discussion of Chapter 12, Part B (Accounting for Equity Investments).
March 12	Investments	Chapter 12, pp. 667-680	We will continue our discussion of accounting for equity investments in class. Complete Problems 12-10 and 12-11, and and read Chapter 12, Appendix B for next class.
March 14	Investments	Chapter 12, Appendix B.	We will go over the solution to Problems 12-10 and 12-11, and discuss impairment of debt investments in class. Mid-term exam next class.
March 19-23	SPRING BREAK!!
March 26	Mid-term Examination	Review all readings to date.	Prepare questions for Jerry Loos related to Year 3 financial statements and Read Appendix A (Derivatives) in the back of the book for next class.
March 28	BAM Requirement 5 Accounting for Derivatives	Appendix A	Students will query client regarding the Aguamaint Year 3 financial statements. We will also discuss Appendix A in the back of the book. BAM teams will prepare designated adjusting entries for next class. Complete Problem A-1 for next class.
April 2	BAM Requirement 6 Accounting for Derivatives	Appendix A	Student teams will present adjusting entries for Year 3 BAM. We will go over Problem A-1 in class. BAM teams will prepare designated adjusting entries for next class. Read Chapter 11, pp. 602-613 for next class.
April 5	Asset Impairment	Chapter 11, pp. 602-613.	BAM teams will present designated adjusting entries in class. We will also discuss accounting for impairments in class. Exercises 11-26 and 11-29 are due next class. BAM teams will present the adjustments for the income tax accrual journal entry in the next class. Complete exercises 11-26 and 11-29 for next class.
April 6th is the last day to withdraw (Grade of W)
April 9	Asset Impairment	Chapter 11, pp. 602-613.	Student teams will present the adjustments for the income tax accrual journal entries in class. We will also go over Exercises 11-26 and 11-29 in class. Complete Problem 11-12 for next class. Read Chapter 19, pp. 1,106-1,126 for next class.
April 11	BAM Year 2 Financial Statements Asset Impairment	Chapter 19, pp. 1,106-1,126	We will be going over Problem 11-12 and Earnings Per Share issues in class. Read Chapter 19, pp. 1,141-1,162 for next class. Also, BAM teams will present corrected Year 3 financial statements in next class.
April 16	Earnings Per Share	Chapter 19, pp. 1,141-1,162	BAM teams will present corrected Year 3 financial statements in class. We will also discuss earnings per share in class. Please complete Problems 19-11, 19-14, and 19-15 for next class. BAM teams will query Jerry Loos about the Year 4 financial statements in the next class.
April 18	Earnings Per Share	Chapter 19, pp. 1,141-1,162	Student teams will query Jerry about the Year 4 financial statements in class. We will also go over the solutions to Problems 19-11, 19-14, and 19-15 in class. Student teams will present designated adjusting journal entries for Year 4 financial statements in next class. Also, please read Chapter 5 pp. 261-272 for next class.
April 23	BAM Requirement 7 Long-Term Construction Accounting	Chapter 5, pp. 261-272	Student teams will present designated adjusting journal entries for Year 4 financial statements in class. We will discuss accounting for long-term contracts in class. Please complete Problem 5-10 and Problem 5-11 for next class. Student teams will present designated adjusting journal entries for Year 4 financial statements in next class.
April 25	BAM Requirement 8 Long-term Construction Accounting	Chapter 5, pp. 261-272	Student teams will present designated adjusting journal entries for Year 4 financial statements in class. We will also go over Problem 5-10 and Problem 5-11 in class. Please read Chapter 5, pp. 301-302 for next class. Also, please prepare completed Year 4 financial statements for next class. Student teams should also prepare the calculations for the accounting for income taxes adjustment for Year 4 for next class.
April 30	Accounting for Franchise Revenue	Chapter 5, pp. 301-302.	Student teams will present the calculations for the accounting for income taxes adjustment for Year 4. We will also discuss accounting for franchises in class. Student teams will present the solution to Year 4 financial statements in next class.
May 2	Accounting for Franchise Revenue	Chapter 5, pp. 301-302	Student teams will present the solution to Year 4 financial statements. Complete Problem 5-19 and read Chapter 19, pp. 1090-1,106 for next class.
May 7	Accounting for Franchise Revenue Stock-based Compensation Plans	Chapter 5, pp. 302-312 Chapter 19, pp. 1,090-1,106	We will go over the solution to Problem 5-19 in class. We will also discuss share-based compensation plans in class. Part 1 of the final examination will be administered in the next class.
May 9	Final Exam Part 1	All material covered since the mid-term examination.	Complete problems sent to you via email for next class.
May 14	Stock-based Compensation Plans	Chapter 19, pp. 1,090-1,126	We will discuss the solution to the problems sent to you via email dealing with stock-based compensation plans.
May 17-23	Final Exam - TBA

¹In addition to the assigned readings for each class listed below, please look over the topic coverage for each year of BAM that appears on the ACCT 305 home page. You may need to read text material in these areas to solve the various BAM exercises.

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