Accounting
305
CLASS SCHEDULE*
Spring 2013
*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 28 | Course Introduction and Introduction to Business Activity Model (BAM) |
FASB ACS 720-15 � K:\ACCT\Smith\Codification |
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 the FASB Re-codification video at K:\Accounting\Smith\Codification\player.html and reread Chapter 8, pp. 8-2 thru 5-11 for next class. Also complete Problems 8-1 and 8-2 for next class. |
| January 30 |
BAM Year 1 Inventories: Special Valuation Issues - Lower of Cost or Market |
Chapter 8, pp. 8-2 thru 8-11 | Student teams will query client on specifics of Year 1 financial statements. Go over Problems 8-1 and 8-2. BAM Year1 1 correcting entries due for next class. |
| February 4 |
BAM Year 1 Inventories: Special Valuation Issues - Lower of Cost or Market
|
Chapter 8, pp. 8-2 thru 8-11 | Each group will present correcting entries that it determines are necessary from evaluating client responses to questions posed in the previous class. Read Chapter 14 thru p. 14-16 for next class. |
| February 6 |
BAM Requirement 3
|
Chapter 14 thru p. 14-16. |
Each group will present a complete set of corrected financial statements, supplementary disclosures, and backup documentation for Year 1. Prepare a solution (as individuals, not as a team) to BAM Requirement 3 for next class. Problem 14-1 and 14-2 for next class. |
| February 11 |
BAM Requirements 3-4 Investments |
BAM Requirement 3 Chapter 14 thru p. 14-16 BAM Requirements 3-4
|
We will go over the solution to BAM Requirements 3-4 and Problems 14-1 and 14-2. Problems 14-3 and 14-4 due for next class. Take-home exam 1 due February 27. Read Chapter 13 thru p. 13-21 for next class. |
| February 13 |
Investments |
Chapter 13 thru p. 13-21. | We will go over Problem 14-3 and 14-4 and coommence our discussion of the accounting for investments as presented in Chapter 13. Problems 13-7, 13-8, and 13-11 due for next class. |
| February 18 |
BAM Requirement 5 Investments |
Chapter 13 thru p. 13-21, BAM Requirement 5 |
Student
teams will query the client on the Year 2 Aguamaint financial
statements (Req. 5). We
will also go over Problems
13-7, 13-8, and 13-11. Correcting entries for BAM year 2
due next class. Also read Ch. 13 pp. 13-23 thru 13-14 for next
class.
|
| February 20 |
BAM Requirement 6 Investments |
Chapter 13, pp. 13-23 thru 13-34; BAM Requirement 6 | Student teams will present their correcting entries to Aguamaint's Year 2 financial statements in class. Complete Problem 13-16 for next class. |
| February 25 |
BAM Year 2 Financial Statements - Requirement 6 Bonds |
Chapter 13, pp. 13-23 thru 13-34; BAM Requirement 6 | Student teams will present corrected Year 2 financial statements for Aguamaint. We will also go over Read Chapter 14, pp. 14-18 thru 14-26 for next class. Take-home exam #1 due next class. |
| February 27 |
Bonds |
Chapter 14 pp. 14-18 thru 14-26 | We will go over the solution to take-home #1 in class.We will also commence a discussion of Chapter 14, pp. 14-18 thru 14-26. Problems 14-6, 9, and 10 due next class. |
| March 4 |
Bonds |
Chapter 14, pp. 14-18 thru 14-26; 14-35 thru 14-42 | We will go over Problems 14-6, 9 and 10 and continue our discussion of accounting for bonds. Student teams will prepare a set of questions to present to the client for BAM Requirement 7 for next class. Read Chapter 14, pp. 14-35 thru 14-42 for next class. |
| March 6 |
Bonds and Long-Term Notes BAM Requirement 7 |
BAM Requirement 7, Chapter 14, pp. 14-35 thru 14-42 | Students will query client regarding the Aguamaint Year 3 financial statements. We will discuss Chapter 14, pp.14-35 thru 14-42 in class (troubled debt restructurings). BAM teams will prepare adjusting entries for next class. Complete problems 14-14 and 14-15 for next class. Students will individually complete take-home examination #2 for April 1st class. |
| March 11 |
Bonds and Long-Term Notes BAM Requirement 8
|
BAM Requirement 8, Chapter 14, pp. 780-784 | Student teams will present adjusting entries for Year 3 BAM. Students prepare the adjustments for the income tax accrual journal entry for next class. |
| March 13 |
Bonds and Long-Term Notes BAM Requirement 8
|
BAM Requirement 8, Chapter 14, pp. 780-784 | Student teams will present adjustments for the income tax accrual journal entry in class. |
| March 18-22: Spring Break! | |||
| March 25 |
Mid-term Examination |
Review all readings to date. | Read Chapter 13, pp. 13-36 thru 13-37 and 13-39 thru 13-45 for next class. |
| March 27 |
BAM Requirement 8 Accounting for Derivatives |
Chapter 13, pp. 13-36 thru 13-37 and 13-39 thru 13-45 | We will go over selected problems in class. Student teams will present completed Yr 3 Financial Statements in next class as well as go over the solution to take-home test #2. |
| April 1 | Accounting for Derivatives | Chapter 13, pp. 13-39 thru 13-45 | Students will present completed Yr 3 Financial Statements in class and we will go over the solution to take-home test #2. Please read Chapter 11, pp. 11-22 thru 11-27 for next class. |
| April 3 |
Asset Impairment |
Chapter 11, pp. 11-22 thru 11-27 | We will go over accounting for impairments in class. Please complete Problem 11-11 for next class. Please read Chapter 12, pp. 12-5 thru 12-7 and 12-17 thru 12-21 for next class. |
| April 8 |
Asset Impairment |
Chapter 12, pp. 12-5 thru 12-7 and 12-17 thru 12-21 for next class. | We will go over accounting for impairment of intangible assets in class.. Read Chapter 16, pp. 16-20 thru 16-37 for next class. Student teams will query client regarding Yr. 4 BAM financial statements in next class. |
| April 10 |
BAM Requirement 9 Earnings Per Share |
BAM Requirement 9 Chapter 16, pp. 16-20 thru 16-37 |
Student teams will query
client regarding Yr. 4 BAM financial statements next class. We will also
discuss earnings per share in class. Please complete
Problems 16-20 and 16-21 for next class. Also, students
teams are to prepare adjusting entries for yr. 4 financial statements
for next class.
|
| April 15 |
BAM Requirement 10 Earnings Per Share
|
Chapter 16, pp. 16-20 thru 16-37
|
Student teams will present adjusting journal entries for Year 4 financial statements and we will go over the solutions to Problems 16-20 and 16-21. Read Chapter 17, pp. 17-25 thru 17-32 for next class. |
| April 17 | Installment and Cost Recovery Methods of Accounting | Chapter 17, pp. 17-25 thru 17-32 | We will discuss the installment and cost receovery methods of accounting in class. Please complete Problems 17-8 and 17-10 for next class. Student teams are also to prepare the calculations for the accounting for income taxes adjustment for Year 4 for next class. |
| April 22 |
BAM Requirement 10 Installment and Cost Recovery Methods of Accounting |
Chapter 17, pp. 17-25 thru 17-32 | Student teams will present the calculations for the accounting for income taxes adjustment for Year 4 for next class. We will also go over Problems 17-8 and 17-10. Please read Cahpater 17, pp. 17-2 thru 17-20 for next class. |
| April 24 | Long-Term Construction Accounting | Chapter 17, pp. 17-2 thru 17-20 | BAM teams will present the calculations for the accounting for income taxes adjustment for Year 4. We will also go over long-term construction accounting in class. Student teams will present the solution to Year 4 financial statements in next class. Prepare solutions to Problems 17-5 and 17-6 for next class. |
| April 29 |
BAM Requirement 10 Installment and Cost Recovery Methods of Accounting
|
BAM Requirement 10
Chapter 17, pp. 17-2 thru 17-20
|
Student teams will present the solution to Year 4
financial statements. We will also go over solution to Problems
17-5 and 17-6. Please read Chapter 17, pp. 17-33 thru 17-35 for next
class.
|
| May 1 | Accounting for Franchise Revenue | Chapter 17, pp. 17-33 thru 17-35 | We will go over accounting for franchise revenue in class. Part 1 of the final examination will be administered in the next class. |
| May 6 | Final Exam Part 1 | All material covered since the mid-term examination. | Please read Chapter 15, pp. pp. 15-17 thru 15-32 and complete Problems 15-3, 5, and 6 for next class. |
| May 8 |
Stock-based Compensation Plans |
Chapter 15, pp. pp. 15-17 thru 15-32 | We will discuss stock-based compensaiton plans and go over problems 15-3, 5, and 6 in class. |
| May 13-17 |
Final Examination
To Be
Announced |
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.