Course AIM 6332 501 10024 Intermediate Financial Accounting II

Professor Liliana Hickman-Riggs, CPA CITP CMA CIA CFE FCPA DABFA MS
Term Fall 2008
Meets Thursday 7:00-9:45 pm SOM 2.115

Professor’s Contact Information

Office Phone 214 378-5400 (# to call for a timely answer)
Other Phone 972 883-5903
Office Location SOM 4.228
Email Address liliana.hickman-riggs@utdallas.edu and liliana@accounting.net
Tuesday 4:30 - 5:30 PM
Office Hours Thursday 4:30 – 6:45 PM
Friday 4:30 - 6:15 PM or by appointment
Other Information TA’s e-mail: chris.holsonback@student.utdallas.edu

General Course Information

Course AIM 6332 Issues in Financial Reporting is a challenging and difficult course that can
Description vastly add to your financial knowledge. You must devote adequate preparation time in order to
complete the course successfully. If you are having difficulty with the topics presented, please
see me or the TA at the earliest opportunity. All efforts will be made to cover each chapter in a
detailed manner. Because of the quantity of the material to be covered, an in depth study of
each chapter cannot be realistically achieved. It is therefore the responsibility of each student
to study any portions not covered in class.

6332 has a value of 45-50 points at the CPA exam.

Learning To enhance critical thinking.

Outcomes To achieve a thorough understanding of the basic concepts, standards, procedures and
practices of the public accounting profession’s reporting obligations and responsibilities.

To understand and appreciate how the basic concepts, standards, procedures and practices of
the public accounting profession affect the various stakeholders who rely or may rely on
financial statements and/or information that has been reported on by professional accountants.

Required Spiceland/Sepe/Tomassini's Intermediate Accounting 5th Edition, Irwin McGraw-Hill

Texts & ISBN # 0073526878 www.mhhe.com/spiceland5e
Materials
Resources The textbook for this course provides a wealth of material. However, the universe of
accounting information is much greater than what you will find in the text. Much of it is
available through UTD’s online library database, as well as through the rest of the Internet.
The publisher also has excellent tools and information available at http://highered.mcgraw-
hill.com/sites/0073526878/student_view0/index.html which should be part of your academic
experience.

On WebCT I have posted power point presentations for each chapter available to you at your
discretion. I do not use PP during the class but if you find them useful they are there for you. I
have also posted solutions for the exercises for each chapter so that you can check the
correctness of your work.

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Assignments & Academic Calendar Fall 2008
Chapters and timelines are subject to change at the discretion of the Professor. Stay informed! Be Prepared
Month Day Subject Matter Suggested Homework
(not graded)
Aug 21 Introduction of the course Every exercise in each chapter
covered in this course is useful. Do as
many as you can. The solutions are
posted on WebCT.

28 Chapter 13 Current Liabilities

Sept 4 Chapter 14 Bonds

11 Chapter 14 Bonds (Finish)

18 Chapter 15 Leases

25 Chapter 16 Deferred Taxes

Oct 2 Catch up
Problem 1 due on/before 10/07/08
9 Test 1: Chapters 13, 14, 15, & 16

Please bring SCANTRON Form 882-E

16 Chapter 17 Pensions

23 Chapter 18 Stockholder Equity

30 Chapter 19 Earnings per Share

Problem 2 due on/before 11/04/08
Nov 6 Test 2: Chapters 17, 18, & 19

Please bring SCANTRON Form 882-E

13 Chapter 20 Accounting Changes
Term Paper due on/before 11/19/08 (Turnitin.com) & 11/20/08 (Hardcopy)
20 Chapter 21 Cash Flows
Problem 3 due on/before 11/25/08
27 Thanksgiving – No Class

Dec 4 Test 3: Chapters 20 & 21

Please bring SCANTRON Form 882-E

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Course Policies
Grading (credit) A = 360, B = 320, C = 280
Criteria Three closed book and closed notes examinations:
Examinations (3) @ 100 pts each 300
Term Paper 55
Problems (3) @ 15 pts each 45
Total possible points from requirements 400

Examinations There will be three closed book, closed notes examinations, each covering the
corresponding chapters in the schedule. Exam dates are firm. Each test is comprised of
about 10 multiple choice or matching questions per chapter (or a combination of the
two). Please bring a SCANTRON form 882-E at each examination. You are allowed
to write on the tests, but no scratch paper is allowed in the exam.

Announcements will be made during the test to inform you of the time remaining. If you
would like to keep track of time yourself please bring a watch as no cell phones or
electronic devices, other than a calculator, will be allowed.
Make-up Exams No make-up exam. If there are emergencies, please contact me as soon as possible.
Extra Credit No extra credit
Problems All problems must be completed via WebCT by midnight of the due date (see schedule).
The problems will be listed under the tab, you will download a problem
set which must be completed and uploaded before the due date.
If you have any technical problems contact both the TA and UTD help desk (1-866-588-
3192).
Be careful, strange things tend to happen in cyberspace. Be sure to read all
announcements/discussions, posted on WebCT 6.0, carefully.

WebCT No matter what your experience with WebCT is, UTD’s Information Resources
department has a wonderful site. The site includes short video tutorials for nearly all
functions in WebCT, as well as solutions to many issues. The website can be found at
http://www.utdallas.edu/elearninghelp

Certain features such as mail and the discussion boards have been disabled in this course.
Only e-mail sent to the e-mail addresses listed in the syllabus will be received.

Term Paper “The Norwalk Agreement”

At their joint meeting in Norwalk, Connecticut, on September 18, 2002, the Financial
Accounting Standards Board (FASB) and the International Accounting Standards Board
(IASB) pledged to use their best efforts to:
(a) make their existing financial reporting standards fully compatible as soon as is
practicable and
(b) to coordinate their future work programs to ensure that once achieved, compatibility
is maintained.

To achieve compatibility, the FASB and IASB (together, the “Boards”) agree, as a matter
of high priority, to:
(a) undertake a short-term project aimed at removing a variety of individual
differences between U.S. GAAP and International Financial Reporting

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 Standards (IFRSs, which include International Accounting Standards, IASs);
(b) remove other differences between IFRSs and U.S. GAAP
(c) continue progress on the joint projects that they are currently undertaking; and,
(d) encourage their respective interpretative bodies to coordinate their activities.

As progress is made in convergence and harmonization between FASB and IASB, the
interpretation of foreign financial statements should become easier.

Your approach in writing the paper should be:

1) Select three (3) topics from the chapters currently under study to analyze
2) Understand the common approaches foreign companies take when they provide
statements to users
3) Became familiar with IASs/ IFRSs (more than 90 countries have adopted these
standards) compare them to GAAP
4) Understand and study the similarities and differences: find common approaches,
different presentations, uncommon terminology for each selected topic
5) Demonstrate an average level of expertise gained in researching these complex
issues through the paper as you address globalization as a whole.

The paper needs to be 7-10 pages plus any figures you choose to include, double
spaced, 12 point font, and divided in five sections:
1) Executive summary
-------One page panoramic view of what you think
2) Problems/issues/differences
-------With 3 subsections (one for each topic selected)
3) Solutions/similarities/advantages
-------With 3 subsections (one for each topic selected)
4) Conclusions
-------Support your overall summary
5) Endnotes/citations
-------Give credit to each source you have utilized

The paper is due on/before 11/19/08 (Turnitin.com) & 11/20/08 (Hardcopy)

You can use Modern Language Association (MLA) or any other style you are familiar
with to cite sources, quotes, figures, and charts.
Grading The analysis will be graded based on the following criteria:
Criteria --Paper
1. Mastery of Accounting Concepts
Thorough understanding of Accounting Principles, FASB standards, IASB standards
and their application and convergence.
2. Responsiveness to the Assignment
Assignment directly and completely accomplished in an exceptional manner.
3. Appropriateness for the Audience
Effective point of view, tone, attitude toward content.
4. Coherent Organization
Clear transitions and logical progression of ideas, major points, principles and
conclusions.
5. Critical Supporting Analysis
The main points of the paper are supported by relevant and specific details.
6. Clarity and Conciseness
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 Clear, efficient well constructed sentences with specific appropriate vocabulary.
7. Correct Use of Mechanics
English is characterized by correct adherence to conventions of grammar,
capitalization, spelling and usage
8. Citation and Documentation
Clearly incorporates material into the paper, documents sources accurately.
9. Visual Presentation
Graphics, charts, and visual aids are effectively used to enhance contexts.
10. Overall Evaluation
The paper accomplishes the purpose of the assignment. The writer keeps a narrow
focus on the topic while providing the reader a broad exposition on the subject.

Other Additional Observations deemed critical by the instructor.

Turnitin.com Your term paper will be analyzed by Turnitin.com. Turnitin.com will compare your
paper against billions of sources, if you could find it then Turnitin.com can. It will also
compare your paper against others in the class.

You will have an opportunity to submit your paper through Turnitin.com early to ensure
that there are no issues. If you have issues with your paper you will be notified so that
you can correct them before you submit your final version. You will need to send the
TA an e-mail once you submit your paper to the preliminary submission.

UTD provides a quick guide on how to avoid plagiarizing at

http://www.utdallas.edu/~tad035000/Plagiarism%20Tutorial/Textonlytutorial.htm .

Late Work Late work not accepted.

Class Required at all classes.
Attendance
Electronic The use of electronic devices in class (except for calculators) is prohibited in class.
Devices
Classroom I will prepare diligently. I will introduce the concepts and mechanics with examples and
Citizenship lectures. I will also go over selected problems to help you become comfortable with the
topics. I will use a mixture of lecture and problem solving, analysis and common sense.

The TA and I will make time to answer your questions.

I will hold you responsible for a thorough understanding of all material presented in class
as well as all text material, any additional handouts that I may provide, and any assigned
material. The knowledge you will need in this class will not accrue only from your
textbook. I expect you to perform research and acquire knowledge or information to
supplement the issues presented or discussed in class. I expect you to participate.

Student The University of Texas System and The University of Texas at Dallas have rules and
Conduct and regulations for the orderly and efficient conduct of their business. It is the responsibility of
Discipline each student and each student organization to be knowledgeable about the rules and
regulations which govern student conduct and activities. General information on student
conduct and discipline is contained in the UTD printed publication, A to Z Guide, which is
provided to all registered students each academic year.

The University of Texas at Dallas administers student discipline within the procedures of
recognized and established due process. Procedures are defined and described in the Rules
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 and Regulations, Series 50000, Board of Regents, The University of Texas System, and in
Title V, Rules on Student Services and Activities of the university’s Handbook of Operating
Procedures. Copies of these rules and regulations are available to students in the Office of
the Dean of Students, where staff members are available to assist students in interpreting the
rules and regulations (SU 1.602, 972/883-6391) and online at
http://www.utdallas.edu/judicialaffairs/UTDJudicialAffairs-HOPV.html

A student at the university neither loses the rights nor escapes the responsibilities of
citizenship. He or she is expected to obey federal, state, and local laws as well as the
Regents’ Rules, university regulations, and administrative rules. Students are subject to
discipline for violating the standards of conduct whether such conduct takes place on or off
campus, or whether civil or criminal penalties are also imposed for such conduct.

Academic The faculty expects from its students a high level of responsibility and academic honesty.
Integrity Because the value of an academic degree depends upon the absolute integrity of the work
done by the student for that degree, it is imperative that a student demonstrate a high
standard of individual honor in his or her scholastic work.

Scholastic Dishonesty, any student who commits an act of scholastic dishonesty is subject to
discipline. Scholastic dishonesty includes but is not limited to cheating, plagiarism,
collusion, the submission for credit of any work or materials that are attributable in whole or
in part to another person, taking an examination for another person, any act designed to give
unfair advantage to a student or the attempt to commit such acts.

Plagiarism, especially from the web, from portions of papers for other classes, and from any
other source is unacceptable and will be dealt with under the university’s policy on
plagiarism (see general catalog for details). This course will use the resources of
turnitin.com, which searches the web for possible plagiarism and is over 90% effective.

Copyright Notice The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted materials, including music and software.
Copying, displaying, reproducing, or distributing copyrighted works may infringe the
copyright owner’s rights and such infringement is subject to appropriate disciplinary action
as well as criminal penalties provided by federal law. Usage of such material is only
appropriate when that usage constitutes “fair use” under the Copyright Act. As a UT Dallas
student, you are required to follow the institution’s copyright policy (Policy Memorandum
84-I.3-46). For more information about the fair use exemption, see
http://www.utsystem.edu/ogc/intellectualproperty/copypol2.htm

Email Use The University of Texas at Dallas recognizes the value and efficiency of communication
between faculty/staff and students through electronic mail. At the same time, email raises
some issues concerning security and the identity of each individual in an email exchange.
The university encourages all official student email correspondence be sent only to a
student’s U.T. Dallas email address and that faculty and staff consider email from students
official only if it originates from a UTD student account. This allows the university to
maintain a high degree of confidence in the identity of all individual corresponding and the
security of the transmitted information. UTD furnishes each student with a free email
account that is to be used in all communication with university personnel. The Department of
Information Resources at U.T. Dallas provides a method for students to have their U.T.
Dallas mail forwarded to other accounts.

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Withdrawal The administration of this institution has set deadlines for withdrawal of any college-
from Class level courses. These dates and times are published in that semester's course catalog.
Administration procedures must be followed. It is the student's responsibility to
handle withdrawal requirements from any class. I cannot drop or withdraw any
student. You must do the proper paperwork to ensure that you will not receive a final
grade of "F" in a course if you choose not to attend the class once you are enrolled. I am
available for counseling, if you need me before you reach the decision.
Last day to drop the course with a "W": November 10, 2008

Student Procedures for student grievances are found in Title V, Rules on Student Services and
Grievance Activities, of the university’s Handbook of Operating Procedures.
Procedures
In attempting to resolve any student grievance regarding grades, evaluations, or other
fulfillments of academic responsibility, it is the obligation of the student first to make a
serious effort to resolve the matter with the instructor, supervisor, administrator, or committee
with whom the grievance originates (hereafter called “the respondent”). Individual faculty
members retain primary responsibility for assigning grades and evaluations. If the matter
cannot be resolved at that level, the grievance must be submitted in writing to the respondent
with a copy of the respondent’s School Dean. If the matter is not resolved by the written
response provided by the respondent, the student may submit a written appeal to the School
Dean. If the grievance is not resolved by the School Dean’s decision, the student may make a
written appeal to the Dean of Graduate or Undergraduate Education, and the deal will appoint
and convene an Academic Appeals Panel. The decision of the Academic Appeals Panel is
final. The results of the academic appeals process will be distributed to all involved parties.

Copies of these rules and regulations are available to students in the Office of the Dean of
Students, where staff members are available to assist students in interpreting the rules and
regulations.

Incomplete As per university policy, incomplete grades will be granted only for work unavoidably
Grades missed at the semester’s end and only if 70% of the course work has been completed.
An incomplete grade must be resolved within eight (8) weeks from the first day of the
subsequent long semester. If the required work to complete the course and to remove the
incomplete grade is not submitted by the specified deadline, the incomplete grade is
changed automatically to a grade of F. You must do the proper paperwork and
submit timely for my approval to ensure that you will not receive a final grade of
"F" in the course.

Disability The goal of Disability Services is to provide students with disabilities educational
Services opportunities equal to those of their non-disabled peers. Disability Services is located in
room 1.610 in the Student Union. Office hours are Monday and Thursday, 8:30 a.m. to
6:30 p.m.; Tuesday and Wednesday, 8:30 a.m. to 7:30 p.m.; and Friday, 8:30 a.m. to 5:30
p.m.

The contact information for the Office of Disability Services is:

The University of Texas at Dallas, SU 22
PO Box 830688
Richardson, Texas 75083-0688
(972) 883-2098 (voice or TTY)
disabilityservice@utdallas.edu

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 If you anticipate issues related to the format or requirements of this course, please meet
with the Coordinator of Disability Services. The Coordinator is available to discuss ways
to ensure your full participation in the course. If you determine that formal, disability-
related accommodations are necessary, it is very important that you be registered with
Disability Services to notify them of your eligibility for reasonable accommodations.
Disability Services can then plan how best to coordinate your accommodations.

It is the student’s responsibility to notify his or her professors of the need for such an
accommodation. Disability Services provides students with letters to present to faculty
members to verify that the student has a disability and needs accommodations.
Individuals requiring special accommodation should contact the professor after class or
during office hours.

Religious
The University of Texas at Dallas will excuse a student from class or other required activities
Holy Days
for the travel to and observance of a religious holy day for a religion whose places of
worship are exempt from property tax under Section 11.20, Tax Code, Texas Code
Annotated.

The student is encouraged to notify the instructor or activity sponsor as soon as possible
regarding the absence, preferably in advance of the assignment. The student, so excused,
will be allowed to take the exam or complete the assignment within a reasonable time after
the absence: a period equal to the length of the absence, up to a maximum of one week. A
student who notifies the instructor and completes any missed exam or assignment may not be
penalized for the absence. A student who fails to complete the exam or assignment within the
prescribed period may receive a failing grade for that exam or assignment.

If a student or an instructor disagrees about the nature of the absence [i.e., for the purpose of
observing a religious holy day] or if there is similar disagreement about whether the student
has been given a reasonable time to complete any missed assignments or examinations,
either the student or the instructor may request a ruling from the chief executive officer of the
institution, or his or her designee. The chief executive officer or designee must take into
account the legislative intent of TEC 51.911(b), and the student and instructor will abide by
the decision of the chief executive officer or designee.
Off-Campus Off-campus, out-of-state, and foreign instruction and activities are subject to state law
Instruction and and University policies and procedures regarding travel and risk-related activities.
Course Information regarding these rules and regulations may be found at
Activities http://www.utdallas.edu/BusinessAffairs/Travel_Risk_Activities.htm. Additional
information is available from the office of the school dean.
Strategies For To further ensure your success, I suggest you follow these strategies:
Success: There is no special secret to succeeding in this course. Most students who are committed
to the “5 Ps” have little trouble:

• Preparation. Do the assigned readings so that the class explanation will mean more.
Apply your knowledge to problem solving, the more you solve, the better you learn.
Preparation is success.
• Presence. If you are not present, then you cannot learn and you cannot add your
expertise to the group explanation. Exchange contact data with a classmate so that if
you miss a class you stay informed.

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 • Promptness.
• Participation. Each student’s learning is best facilitated by regular participation. Each
student is responsible for sharing his or her understanding and judgment with the
class to advance the group’s collective skills and knowledge.
• Practice. Do enough exercises to turn the “theoretical information” into “practical
skills”
• Re-do homework, to become proficient. Copying solutions ≠ working problems.
Analyze and learn from your mistakes. Failure is a great way to learn.
• “Read the English!” If you understand the question you will solve the problem.

Method of The theory and philosophy of accounting for Intermediate will be presented through
Presentation: lectures and handouts. The student’s participation is essential.

Be very prepared for class. Preparation requires that you read the assigned materials and
work through the examples in the readings.

I HEAR AND I FORGET, I SEE AND I REMEMBER, I DO AND I UNDERSTAND

Course The course continues the emphasis on accounting concepts and theory; analysis of
Objectives liabilities and equities; alternative accounting methods for special topics such as leases,
pensions, and income taxes; changes and error analysis and, more advanced aspects of
accounting theory. At the conclusion of the course you should have a thorough
knowledge of the appropriate financial statement presentation of these topics, including
the rationale behind the relevant standards.

(1) Apply US GAAP as it pertains to accounting principles for current and long-term
liability accounts.
(2) Apply US GAAP as it pertains to accounting principles for stockholder’s equity
accounts.
(3) Continue to develop the skills to prepare financial statements in accordance with US
GAAP.

Any others deemed important by the instructor

I am looking forward to meeting you and to get to know each of you during the upcoming semester.
Thank you for choosing my class.