Subject to revision (last update: Mar 26, 2022)
- Instructor: Elizabeth Stanny, PhD
- Email: stanny@sonoma.edu
- Office hours in Zoom meeting room:
- every weekday starting at 6 PM until all questions are answered
- by appointment
Prerequisites
- BUS 330A
- Proficiency in spreadsheet software
- Course site: stanny.moodlecloud.com. If you are enrolled in the course, I will send you login information.
- If you have any questions about the site, please ask me.
- Videos, notes, quizzes and other materials are posted on the site.
- As you watch the videos you should work along and replicate the spreadsheets. You will use the spreadsheets in your quizzes.
Course materials
- ASC (Accounting Standards Codification) (required).
- Logon credentials will be posted on the course site.
- Textbook (optional)
- Intermediate Accounting 9th (ISBN: 9781259722660) or 10th (ISBN: 9781260481952) edition
- Spreadsheet Software
- Google Sheets (required to use through SSU’s Google Drive)
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 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 contact
- Account for a lease from the perspectives of the lessee and of the lessor
- Income taxes
- Account for temporary differences between financial and tax statements
- Explain why permanent differences have no effect on 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 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 constitute 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 direct and indirect methods
- Compute cash flows from investing and financing activities using the direct 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
| Jun 28 |
1: Investments |
1 |
7 PM |
Ch 12 |
| Jun 30 |
2: Current Liabilities and Contingencies |
2 |
7 PM |
Ch 13 |
| Jul 5 |
3: Bonds and Long-Term Notes |
3 |
7 PM |
Ch 14 |
| Jul 6 |
4: Leases |
4 |
7 PM |
Ch 15 |
| Jul 8 |
5: Accounting for Income Taxes |
5 |
7 PM |
Ch 16 |
| Jul 11 |
6: Pensions and Other Post-retirement Benefits |
6 |
7 PM |
Ch 17 |
| Jul 13 |
7: Accounting Changes and Error Corrections |
7 |
7 PM |
Ch 18 |
| Jul 15 |
8: Shareholders’ Equity |
8 |
7 PM |
Ch 19 |
| Jul 18 |
9: Share-Based Compensation and Earnings Per Share |
9 |
7 PM |
Ch 20 |
| Jul 20 |
10: The Statement of Cash Flows |
10 |
7 PM |
Ch 21 |
| Jul 21 |
Exam (Topics 1-10) |
|
7 PM |
|
| Jul 22 |
Extra Credit |
|
7 PM |
|
Grading
There are 1050 possible points in the course (50 are extra credit points). Your grade will be determined by your total points:
| A |
950 |
| A- |
900 |
| B+ |
870 |
| B |
830 |
| B- |
800 |
| C+ |
770 |
| C |
730 |
| C- |
700 |
| D+ |
670 |
| D |
600 |
Quizzes 600 points
- Questions will be short-answer, numerical and multiple-choice.
- You can attempt each quiz twice and you will receive the highest grade scored.
- Late quizzes will not be accepted. Please do not ask.
- There will be multiple versions of quizzes. You can work with others on the quizzes, but you must enter and understand the answers yourself. When you submit your answers you are acknowledging that you can explain your answers.
Exam 400 points
- The exam is open-book and open-note. On the exam day it will open at 9 AM and close at 7 PM. You will have 2 hours to complete it.
- You should use the spreadsheets that you have created for the quizzes.
- You will be required to submit a link to your spreadsheet on the SSU Google drive that contains your work on the Exam.
Policies
- You must adhere to SSU’s Cheating and Plagiarism policy. Academic dishonesty (e.g., cheating, plagiarism, etc.) will not be tolerated and will result in a zero grade (i.e., no points) on the quiz or exam and, possibly, a failing grade in the course.
- Please be advised that the on-line software allows me to track every click you make on the course site. I know whether, when and where you attempt quizzes, access notes, etc.
- There are no opportunities for points not listed above. Please do not ask.
- Disability Services for Students (DSS)
- Academic Accommodation: 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 in order 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.