BAAC 321-022 Intermediate II

3 credit hours Fall 2015

Instructor:
Karen F. Turner, Ph.D., CPA (TX & CO),
Office Hours: Tues & Thru 9:15 10:15 & by appointment

Office: Kepner Hall 2053B

Telephone: 351-1216
e-mail: karen.turner@unco.edu

Intermediate Tutor: Jack Stephenson

e-mail: john.stephenson@unco.edu
Tutoring Hours: TBD
Prerequisites: BAAC 320 with a minimum grade of C-. Business majors only, Junior or above.
Catalog Description: (3 hours) An activity course with emphasis on current and long-term liabilities, investments,
stockholders equity, leases, income taxes and cash flows.

2.
3.
4.
5.

Course Objectives: At the end of this course, each student should be able to
1. Explain, identify, account for and fully disclose traditional accounting transactions based on US GAAP
including
a. The acquisition, utilization and disposition of current and long-term liabilities,
b. Stockholders equity transactions including appropriate earnings per share,
c. Investments using the fair value method or the equity method as appropriate,
d. Revenue using the appropriate revenue recognition method,
e. Timing differences in taxable income and financial income,
f. Leases,
g. Accounting changes and accounting errors, and
h. Cash flows using the direct and indirect method of reporting.
Compare and contrast these US GAAP financial reporting standards and IFRS standards.
Understand the importance of ethical behavior in the context of financial reporting.
Apply their knowledge of accounting concepts using the appropriate software.
Assess traditional accounting transactions and communicate those assessments in the appropriate medium to the
appropriate audience.
Competencies: The above stated course objectives stated above support the specific competencies developed by
the faculty in the Accounting Program at MCB in accordance with AACSB guidelines:
MCB Accounting
Learning Goals

MCB Accounting
Learning Objectives

Demonstrate knowledge of key

concepts in major business disciplines

Students will score at the 80th percentile or higher on each section of the ETS
Major Field Test.
Students will demonstrate competency in preparing and delivering professional
quality presentations on various accounting topics.
Students will demonstrate competency in preparing professional accounting
documents.
Students will analyze accounting data/information to identify key accounting issues,
generate and evaluate appropriate alternatives, and propose feasible accounting
alternatives at a competent level.
Students will demonstrate competence in business software packages to solve
accounting problems.
Students will demonstrate competency in the use of professional accounting
software such as ACS, ACL, RIA's Checkpoint and a general ledger package.
Students will demonstrate competency on course-embedded ethics and social
responsibility assessments.
Students will competently identify the ethical issues or problems in an accounting
case based on the AICPA's Code of Professional Conduct and the Colorado State
Board of Accountancy's Rules of Professional Conduct, analyze the consequences
for various stakeholders and develop an acceptable resolution.
Students will demonstrate competency on test questions specifically tied to
individual course objectives (as outlined on course syllabi).

Demonstrate effective communication

skills
Demonstrate conceptual and
analytical skills
Demonstrate technology skills

Demonstrate knowledge of
accounting ethics concepts
Demonstrate knowledge of key
accounting concepts

This
Courses
Coverage

5
2, 5
4
4
3
3
1

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Required Text: Intermediate Accounting, 15th ed., by Kieso, Weygandt & Warfield (2012).
Systems Understanding Aid, 7th ed., by Arens & Ward
Recommended Text: Computer Accounting, 14th ed. by Carol Yacht
Grading:

3 Chapter Exams (125 pts. ea.)

In-Class Homework
Graded Homework
General Ledger Assignment
Current Events (2 @ 25 pts. each)
Final Exam
Total

375 pts.
75 pts.
125 pts.
125 pts.
50 pts.
250 pts.
1,000 pts.

1000 900 pts. = A

899 800 pts. = B
799 700 pts. = C
699 600 pts. = D
< 600 pts
=F

Chapter Exams: Exams will cover the material in the text, lecture/discussion, and homework. Usually the format
will consist of objective-type questions for concepts and problems similar to those assigned for homework for
technique and understanding. Generally, concepts are tested in an objective format on the day listed on the class
schedule. At that time, a take-home test will be posted to Blackboard that will be due one week from that date. This
part of the exam will consist of problem similar to the In-Class Homework assignments.
Homework: Homework is an integral part of the learning process. In this class, we will complete homework in
stages: WileyPlus, In-Class Homework Problems and Graded Homework. No late assignments will be
accepted.

WileyPlus: The exercises assigned should be completed on WileyPlus before class on the day
assigned on the class schedule. I may use some of these exercises in classes to illustrate a
chapters content. You will get much more out of the class if you have attempted these exercises.
These homework assignments wont be graded. Set up and access to your WileyPlus account,
looking for BAAC 321 Prof. Turner, at the following website:
https://www.wileyplus.com/WileyCDA/. The course ID is 470546
In-Class Homework Problems: We will complete the problems assigned under In-Class Homework
Problems as a quasi-review of the chapter on the last day the chapter material is discussed. You are to
complete these before class either in Excel or in Word. As I go over them, you should make corrections
and notes. At the end of class, I will take up the homework. If you have made a concerted effort to
complete the problems, you will receive full credit for you attempt.
Graded Homework: On the class day after we have completely finished a chapter, including the In-Class
Homework, the graded homework for that chapter is due. All homework assignments must be computer
generated using Excel and/or Word, as appropriate. These are individual assignments and will be
graded based on correctness.

General Ledger Assignment: This is the same assignment you completed in BAAC 320 using the System
Understanding Aid, but this time you will use a general ledger package. We will begin this assignment the fourth
week of the semester. Your pre-closing trial balance will be due 10/20. Year-End Comparative Financial
Statements will be due 11/10.
Current Events: Two times during the semester you will bring in an article from the Wall Street Journal that
pertains either directly or indirectly to the topic we are discussing at the time. In a two-minute presentation, you
should summarize the article and discuss the topics relevance to the topic at hand. The first article is due by 10/8;
the second article is due by 12/01. Current event articles are due BY (not necessarily ON) these dates.
Final Exam: The final exam will be a comprehensive test similar in format to the chapter exams.
Make-up Policy: Course work may be made up if an absence is excused. You MUST notify me in advance or as
soon as possible and provide me with verification to obtain an excused absence. Any missed work must be made
up before the next class period unless extenuating circumstances exist.

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Instructors Responsibilities: My responsibilities include fostering a learning environment and presenting the
necessary information in a manner understandable to a student with some background in financial accounting.
Additionally, I am responsible for providing any help necessary to any student who needs further explanation of the
course material. I am also responsible for providing feedback to you concerning your progress in this course. My
most important responsibility is challenging you beyond your present capabilities.
Your Responsibilities: Your responsibilities including attending class (This includes being on time.), coming to
class prepared (i.e., read the assigned chapters, attempt the assigned homework before class and bring the required
materials to class.), turning assignments in on time, and asking questions and seeking help from me or the tutor if
you need it. Your most important responsibility is challenging yourself beyond your present capabilities.
Course Prerequisites: Students are expected to complete all prerequisites for a business class prior to the first day
of class. Students may not concurrently enroll in a class and its prerequisites(s) unless it is expressly stated in the
Bulletin that the class is a co-requisite. Any exception to this policy must be approved by the director of the
department offering the class.
Disclaimer: Although I expect the attached syllabus/course schedule to be followed, unexpected changes may be
necessary. Should any change be made, you will be notified in class as soon as possible. You are responsible for
obtaining information concerning changes to the course schedule if you are not in class on the day the change is
announced.

DISABILITY STATEMENT: Students who believe that they may need accommodations in this class are encouraged to
contact the Disability Support Services (970) 351-2289 as soon as possible to ensure that accommodations are
implemented in a timely fashion.

KENNETH W. MONFORT COLLEGE OF BUSINESS STATEMENT:

Kenneth W. Monfort College of Business students are expected to conduct themselves in accordance with
the highest standards of academic honesty. Cheating, plagiarism, illegitimate possession and disposition
of examinations, alteration, forgery, or falsification of official records and documents, and similar acts or
the attempt to engage in such acts are grounds for disciplinary action. This action can include the
following in addition to any University disciplinary action:
1. A failing grade for a particular assignment.
2. A failing grade for a particular course.
3. Suspension from the Kenneth W. Monfort College of Business.
4. Expulsion from the Kenneth W. Monfort College of Business.
Students are expected to complete all prerequisites for a business class prior to the first day of class.
Students may not concurrently enroll in a class and its prerequisite(s) unless it is expressly stated in the
Bulletin that the class may be taken concurrently. The Chair of the Department offering the class must
approve any exception to this policy.
Students must submit original works for assignments required in this class. A student who submits a work
that was previously submitted to another class without prior approval from the instructor is in violation of
this policy. A student who violates this policy may receive a failing grade for the assignment, a failing
grade for the class, and face termination of his/her business degree program.
The action is decided on by your instructor. Because of the importance of accountants with high ethics, this
instructor will strictly enforce this policy.

BAAC 321-022

Fall 2015 - 6

Additionally, if you are caught cheating in this class, a letter documenting the dishonesty will be sent to the Dean
of Students and kept in your permanent file.

MONFORT COLLEGE OF BUSINESS STUDENT CODE OF PROFESSIONAL CONDUCT

Monfort College of Business students represent the professional and academic interests of the entire MCB
& UNC communities. Accordingly, MCB expects all students to behave in a professional manner and
adhere to high ethical standards in every business class and in every activity connected with the Monfort
College of Business. This professional behavior is required not only in the classroom but also in all MCBrelated interactions such as e-mails, conferences and use of technology.
MCB students should exhibit respectful behavior in classes. This behavior includes arriving on time to
class, staying in class until the lecture ends, having the discipline to stay engaged in class, turning-off or
silencing cell phones and pagers while in class, refraining from text-messaging, and avoiding coming to
class wearing clothing that is unduly provocative or has written messages that are rude, insensitive or
obscene. MCB students should engage in respectful behavior in all activities where they act directly or
indirectly as a representative of the MCB. Respectful behavior creates a more desirable, civilized, and
productive learning environment, and it models behavior that is both productive and pleasant when
students transition from the classroom to the workplace.
MCB students should master and apply the fundamental skill of preparing and sending class or university
related e-mails that are properly written, show professionalism and communicate a clear message. E-mails
containing profanity, spelling mistakes, punctuation errors, or poor composition evidence sloppiness and
show disrespect to the recipient. MCB students should use proper forms of address when communicating
orally or in writing with faculty or staff (i.e., Dr. Smith, Professor Jones, Ms. Abbot, etc.). If a student
does not know how to address a faculty member, he or she should ask.
This code of professional conduct complements, but does not replace, the Honor Code of the Monfort
College of Business or the Honor Code of the University.
Note: Other important policy statements have been posted to the course site on Blackboard.

BAAC 321-022

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Tentative Class Schedule1
Fall 2013

Date

8/25
8/27

Topic

9/8
9/10
9/15
9/17
9/22
9/24
9/29
10/1
10/6
10/8
10/13
10/15
10/20
10/22*
10/27
10/29*
11/3
11/5
11/10*
11/12
11/17
11/19
11/24
12/1

Wiley-Plus Hmwk
Exercises

In-class Hmwk
Problems

Graded Assignments
Due

Course Introduction
Current Liabilities

9/1
9/3

Readings*

Ch. 13

1, 2, 5, 7, 8, 10, 14 & 16
IFRS Self-Test Reviews
4, 5 & 13

Long-Term
Liabilities

Ch. 14, Sec 2

& App 14A

1, 16 & 17
20, 22, 23 & 25

Ch 13s AA&P**
13

9 & 10, 6, 7
Income Taxes

Pensions
Bonds
Stockholders
Equity
Dilutive Securities
& Earnings

Ch. 14s PR-ASC#

Ch. 19

3, 4, 8, 12, 17
IFRS Self-Test Reviews
5, 8
Exam I Chapters 13, 14 (L-T Liab only), & 19
Ch. 20
14: 2 5,11 & 13; 17: 3
Ch. 14, Sec 1
& Ch. 17, p.
IFRS Self-Test Reviews
14: 5, 2, 4
952 - 955
17: 1a - c
2, 4, 6, 9, 10, 11, 14, 16
Ch. 15
IFRS Self-Test Reviews
3, 4, & 8
Ch. 16

Ch. 19 AA&P

Bond Handout
CE due
Ch. 15s PR-ASC

1, 3, 9, 11, 15, 18, 20

IFRS Self-Test Reviews
1, 7 & 8
PT Pre-closing TB
Exam II Chapters 14 (Bonds only), 15, 16, 17 (Bond only) & 20
1, 6, 8, 9, 10, 11, 13, 16
Ch. 16s AA&P
Investments
Ch. 17
IFRS Self-Test Reviews
6&9
Project Day
Ch. 17s AA&P
2, 4, 10, 15 & 16, IFRS
Revenue
Ch. 18
PT f/s due
Recognition
Self-Test Reviews
1, 10 & 11
1 - 5, 7, 9
Ch. 18s PR-ASC
Leases
Ch. 21
IFRS Self-Test Reviews
1, 4 & 12
Exam III Chapters 17 (Investments only), 18 & 21
CE Due
1, 2, 5, 6 & 10
Cash Flows
CA21 - 2
Ch. 23
12/3
IFRS Self-Test Reviews
2&3
12/10
Comprehensive Final (8:00 10:30)
*When reading the chapters, make sure that you read the IFRS Insights at the very end of the chapter, after the homework
section. You are responsible for this information.
**AA&P Accounting, Analysis and Principles case found towards the end of the homework section.
#
PR-ASC Professional Research: FASB Codification (http://www2.aaahq.org/ascLogin.cfm, UN: AAA51668, PW:
2W5haQT)
Other Opportunities at MCB this spring
Every Tuesday evening BAP and PPA meeting (Coors Room)
9/10 All Colorado Business Fair
9/16 Meet the Firms
10/19-22 Ethics Week
Ethics Club

1 I reserve the right to make changes as I deem necessary for the good of the students.