ACG3111

Financial Accounting and Reporting II

Course Code:
ACG 3111

Credit Hours:
3

Effective beginning:
2023-24

Sections:
001

 

Course Description:
This is the second in a sequence of two courses: ACG 3101 and ACG 3111. This course presents an in-depth study of financial reporting concepts and generally accepted practice for current liabilities, long-term liabilities, leases, pensions, income taxes, revenue recognition, the statement of cash flows, and stockholders’ equity and earnings per share. There is emphasis on analyzing financial events and the consequences of financial reporting alternatives.

 

Course Details

Prerequisites:

ACG 3101

 

Instructors:

Sherry Klanjac, CPA

 

Required textbooks/ course materials:

Intermediate Accounting: Reporting and Analysis (loose-leaf), 3rd ed., Wahlen/Jones/Pagach, Cengage Publishing, 2019. ISBN: 9780357642115.

Cengage Unlimited:

  • 1-semester subscription: ISBN 9780357700006
  • 1-year subscription: ISBN 9780357700013
  • 2-year subscription: ISBN 9780357700020

 

Assignment/course outline:

See your Instructor First Day Handout for individual instructor assignment schedule.

 

Discipline-level learning outcomes:

Bachelor of Science in Business Administration degree Learning Outcomes:

BA-1 Exhibit knowledge of accounting, finance, management, legal, operations and marketing. 

BA-2 Identify MIS, economics, technology, statistical data and decision support tools for making effective business decisions.

BA-3 Recognize the impact of today’s global economy, diversity and cultures on businesses.

BA-4 Comprehend how effective leadership, teamwork and ethics relate to best business practices.           

BA-5 Use effective oral and written communication skills, including effective research techniques. 

 

Course-level learning outcomes:

Course-level student learning outcomesDiscipline-level learning outcomesAssessment methods
Synthesize the rules of double entry bookkeeping and display knowledge of these rules through preparation of journal entries

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes
Appraise the concepts and differences of reporting for Current liabilities and Contingent liabilities

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes
Evaluate the valuations of Bonds including those issued at a discount and a premium.

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes
Contrast the different types of stocks including common, preferred, cumulative, and participating. Along with the modifications

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes
Appraise the concepts of Earnings per share and Dilutive earnings per share

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes
Contrast between Operating leases and Capital leases. Know how to identify and record in financial statements

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes
Construct investments as Held to Maturity, Available -for sale securities, or Trading securities and know reporting values

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes

Formulate more advanced concepts for the proper accounting of the following: 

  1. Cash and Accounts Receivable
  2. InventoriesLiabilities (including Mortgages and Bonds Payable)
  3. Long-term assets (including the capitalization of interest) and their depreciationFair value of accounting for assets and their sale or trades
  4. Advanced Present value concepts
  5. Ratios – all 18
  6. Cash Flow Statement

BA-1, BA-2, BA-3, BA-4, BA-5

Homework, tests, quizzes

 

Means of accomplishing learning outcomes:

In-Person

The instructor will:

  • Lecture and lead class discussions.
  • Assign readings from textbooks and/or other sources to supplement lectures.
  • Provide supplemental materials that align with the material presented in the textbook as appropriate.
  • Design assignments, quizzes, discussions, etc., to help students engage with the course material.
  • Use other teaching strategies to assist students in examining and understanding course materials as needed.
  • Provide timely feedback on assignments.
  • Hold weekly office hours to address questions and student needs outside of class time.

The students will:

  • Attend class regularly and be attentive to lectures.
  • Engage with class discussion.
  • Participate in student discussion groups.
  • Read assigned readings.
  • Complete assignments, quizzes, discussion boards, etc., as assigned by the instructor.

Online

The instructor will:

  • Lead class discussions.
  • Assign textbook and/or other readings.
  • Provide supplemental materials that align with the material presented in the textbook as appropriate.
  • Design assignments, quizzes, discussions, etc., to help students engage with the course material.
  • Use other teaching strategies to assist students in examining and understanding course materials as needed.
  • Provide timely feedback on assignments.
  • Hold weekly virtual office hours to address questions and student needs.

The students will:

  • Engage with the course regularly.
  • Engage with class discussions.
  • Participate in student discussion groups.
  • Read assigned readings.
  • Complete assignments, quizzes, discussion boards, etc. as assigned by instructor.

 

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