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University of Manitoba

Asper School of Business


Department of Accounting and Finance

ACC 2010 (A01) Intermediate Accounting - Assets

Course Outline
Winter 2018

Monday/Wednesday 10:00 am - 11:15 am 107 Drake

Instructor: Wenxia Ge, PhD, CPA, CGA


Email: wenxia.ge@umanitoba.ca
Phone: (204) 474-9331
Office: 402 Drake Centre
Office hours: By appointment; extra office hours will be announced on the course website.

Course Description
ACC 2010 is the first of a two-part series in Intermediate Financial Accounting. This course is
designed to help students develop a thorough understanding of (a) the environment of financial
reporting and the conceptual framework that underlies financial reporting in Canada; (b) the
accounting for assets, revenues, and expenses in greater depth than in introductory accounting
course; and (c) substantive differences between International Financial Reporting Standards (IFRS)
by publicly accountable enterprises and accounting standards for private enterprises (ASPE). It
applies some accounting theory to help explain the “why” behind accounting standards and
practices.

Learning Outcomes
Upon completion of this course, you will be expected to:
− have a solid understanding of financial accounting concepts and IFRS, as they apply to the
topics covered in this course;
− have developed professional judgment in analyzing accounting issues and recommending
accounting policies; and
− have developed skills in applying accounting standards to situations and problems.
ACC 2010, Winter 2018, Course Outline / Page 2 of 7

Course Material
• Kieso, D., J. Weygandt, T. Warfield, N. Young, I. Wiecek, and B. McConomy, Intermediate
Accounting (11th Canadian ed.), vol. 1, 2016, John Wiley & Sons Canada, Ltd. packaged with
WileyPLUS Registration Code (available through the Campus Bookstore).
• Reference: CPA Canada Handbook – Accounting (see Appendix 2)
• Class notes, solutions to assigned homework & sample exams:
− Available on course website: https://universityofmanitoba.desire2learn.com/d2l/login
− Sign in using your University of Manitoba UMnetID
− From your Winter 2018 list of courses, click on “ACC-2010-A01-Intermediate Accounting-
Assets”
− Click on “Resources”, then “Content”

All ACC 2010 course materials (including but not limited to the lectures, class notes, and
examinations) are the intellectual property of Wenxia Ge. These materials are not to be reproduced or
published in any format without express permission.

Conduct of the Course


The course will be conducted principally as a lecture-style class, with some in-class discussion and
activities involving the application of accounting principles. The tentative class schedule (Appendix 1)
lists the topic(s) to be covered in each class. Students are expected to read the related textbook chapter
prior to class.

Some textbook problems will be selected for in-class discussion, and some others will be assigned for
homework. The assigned homework problems are not to be handed in. Students are responsible to
complete the homework problems and check their work against solutions on their own (the solutions
will be available through the course website). Students are also encouraged to use the WileyPLUS
online resources for self-study.

Allocation of Grades
WileyPLUS Online Assignments See the assignment schedule below 10%
Midterm Exam February 17 (Saturday), 9 am – 11 am 40%
Final Exam To be scheduled by the Registrar’s Office 50%
100%

WileyPLUS Online Assignments


Students will complete 10 online assignments, each worth 1 mark for a total of 10 marks, through the
WileyPLUS associated with the Kieso textbook. WileyPLUS registration code in a sealed envelope is
included with new textbooks sold in the bookstore. Please follow the document titled “WileyPLUS
Registration Guidance” on the course website to register for WileyPLUS.

Each question in the assignment can be attempted three times before the due date listed below. The
percentage grade you receive on each assignment is the mark that you will receive towards your final
grade in the course.
ACC 2010, Winter 2018, Course Outline / Page 3 of 7

Assignment Due by 11:59 PM on Textbook Covered


1 Sunday, January 21 Chapters 2 & 3
2 Sunday, January 28 Chapter 4
3 Sunday, February 11 Chapter 5
4 Sunday, February 18 Chapter 6
5 Sunday, February 25 Chapter 7
6 Sunday, March 11 Chapter 8
7 Sunday, March 18 Chapter 9
8 Sunday, March 25 Chapter 10
9 Sunday, April 1 Chapter 11
10 Sunday, April 8 Chapter 12

Examinations
The midterm examination will test all material covered in chapters 1-7 (including assigned
appendices) of the textbook. The final examination will test all material covered throughout the entire
course. Examinations will test students’ understanding of the concepts covered in lectures, readings
and assigned homework. Students will also be tested on their ability to apply these concepts to new
situations.

You must bring your student ID card to the exam. For any examination in the course, each
student will be allowed to bring calculators (non-programmable and without text storage
capacity), erasers, pens and pencils. No other materials or personal items will be permitted.

A grade of zero will be given to a missed midterm examination without a legitimate reason. Students
who miss a midterm examination for a legitimate reason (medical, compassionate, academic conflict
or university sports team travel) should inform me with suitable documentation within five working
days of the missed examination date to have the weight of the missed midterm added to the final
examination. Conflicts with employers do not qualify as legitimate reasons to miss any examination.

Any request for remarking the midterm examination must be made within five working days of the
class in which it was returned.

Students who miss the final examination must apply to the Undergraduate Program Office in their
faculty for possible deferred examination privileges.

Email Communication
Please use your university e-mail account to communicate with me. Please include “ACC 2010” in
the email subject line, and give your full name when you write to me.
ACC 2010, Winter 2018, Course Outline / Page 4 of 7

Appendix 1: Tentative Class Schedule


(Changes are possible and will be announced in class)

Day Date Topic In-Class Assigned Homework

Jan. 3 Class is cancelled in lieu of midterm exam


Ch. 1 The Canadian Financial Reporting Environment
1 Jan. 8 Ch. 2 Conceptual Framework Underlying Financial TBD
Reporting
2 Jan. 10 Fundamentals of Financial Accounting Theory

3 Jan. 15 Ch. 3 The Accounting Information System and


TBD TBD
4 Jan. 17 Measurement Issues (Appendix 3B: self-study)

5 Jan. 22 Ch. 4 Reporting Financial Performance TBD TBD


6 Jan. 24 Ch. 5 Financial Position and Statement of Cash Flows
TBD TBD
7 Jan. 29 (Appendix 5A: self-study)
8 Jan. 31 Ch. 6 Revenue Recognition
9 Feb. 5 TBD TBD
10 Feb. 7 Appendix 6A: Long-Term Contracts

11 Feb. 12 Ch. 7 Cash and Receivables


TBD TBD
12 Feb. 14 Appendix 7A: Cash Controls
Feb. 17 Midterm Exam: 9am – 11am
Ch. 8 Inventory
13 Feb. 26 Appendix 8A: The Retail Inventory Method of
TBD TBD
14 Feb. 28 Estimating Inventory Cost
(Appendix 8B: self-study)

15 Mar. 5
Ch. 9 Investments TBD TBD
16 Mar. 7

Ch. 10 Property, Plant, and Equipment: Accounting


Model Basics
17 Mar. 12
TBD TBD
18 Mar. 14 Appendix 10A: Capitalization of Borrowing Costs
Appendix 10B: Revaluation: The Proportionate Method
19 Mar. 19
Ch. 11 Depreciation, Impairment, and Disposition TBD TBD
20 Mar. 21

21 Mar. 26 Ch. 12 Intangible Assets and Goodwill TBD TBD

22 Mar. 28
Ch. 5 Statement of Cash Flows TBD TBD
23 Apr. 2

24 Apr. 4 Wrap up TBD TBD

Notes: Textbook problems for in-class discussion and homework will be assigned throughout the term.
This appendix will be updated periodically and posted on the course website.
ACC 2010, Winter 2018, Course Outline / Page 5 of 7
1.
Appendix 2. The CPA Canada Handbook – Accounting

The CPA Canada Handbook – Accounting is made up of 5 parts. For this course, we will only be
studying Part I and Part II. Part I is the International Financial Reporting Standards (IFRS). Part II is
the Accounting Standards for Private Enterprises (ASPE). Though it is not absolutely necessary to
read the IFRS or ASPE themselves, motivated students may find it useful to read directly from the
accounting standards to obtain a better understanding of the application of accounting.

The CPA Canada Handbook – Accounting is available in electronic format on the University of
Manitoba Libraries website. To access the Handbook:

1. From the University of Manitoba homepage (www.umanitoba.ca), click on Libraries under


“Resources” block.
2. Click “Databases A-Z;” enter “CPA Canada Standards & Guidance Collection” and click
“Go.”
3. If you are accessing the Handbook from off campus, you will then have to enter your
Library ID and PIN (if you do not know your Library ID and/or PIN, there is a link on this
page that will help you) and click on “Login”.
4. On the Knotia.ca page, click on “CPA Canada Standards and Guidance Collection
(CPACHB)”.
5. The most efficient way to access a particular section in the Handbook is to enter the section
number in the “Fetch” box and click on “Go”.

The Handbook is accessible on campus or from off-campus with an internet connection.


ACC 2010, Winter 2018, Course Outline / Page 6 of 7

Appendix 3. AACSB Assurance of Learning Goals and Objectives.

The Asper School of Business is proudly accredited by AACSB. Accreditation requires a


process of continuous improvement of the School and our students. Part of “student
improvement” is ensuring that students graduate with the knowledge and skills they need to
succeed in their careers. To do so, the Asper School has set the learning goals and objectives
listed below for the Undergraduate Program. The checked goal(s) and objective(s) will be
addressed in this course and done so by means of the items listed next to the checkmark.

Goals and Course Item(s)


Objectives Relevant to
Addressed in these Goals
Goals and Objective in the Undergraduate Program this Course and Objectives
1 Quantitative Reasoning
A. Determine which quantitative analysis technique is ü In-class problems
appropriate for solving a specific problem. and assigned
homework
B. Use the appropriate quantitative method in a ü In-class problems
technically correct way to solve a business problem. and assigned
homework
C. Analyze quantitative output and arrive at a ü In-class problems
conclusion. and assigned
homework
2 Written Communication
A. Use correct English grammar and mechanics in their
written work.
B. Communicate in a coherent and logical manner ü Written short-
answer questions
in exams
C. Present ideas in a clear and organized fashion. ü Written short-
answer questions
in exams
3 Ethical Thinking
A. Identify ethical issues in a problem or case situation ü In-class problems
and assigned
homework
B. Identify the stakeholders in the situation. ü In-class problems
and assigned
homework
C. Analyze the consequences of alternatives from an ü In-class problems
ethical standpoint. and assigned
homework
D. Discuss the ethical implications of the decision. ü In-class problems
and assigned
homework
4 Core Business Knowledge ü Entire course
ACC 2010, Winter 2018, Course Outline / Page 7 of 7

Appendix 4. Academic Integrity

It is critical to the reputation of the I. H. Asper School of Business and of our degrees that everyone
associated with our faculty behaves with the highest academic integrity. As the faculty that helps
create business and government leaders, we have a special obligation to ensure that our ethical
standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The
University of Manitoba Undergraduate Calendar addresses the issue of academic dishonesty under the
heading “Plagiarism and Cheating.” Specifically, acts of academic dishonesty include, but are not
limited to:
• using the exact words of a published or unpublished author without quotation marks and
without referencing the source of these words
• duplicating a table, graph or diagram, in whole or in part, without referencing the source
• paraphrasing the conceptual framework, research design, interpretation, or any other ideas of
another person, whether written or verbal (e.g., personal communications, ideas from a verbal
presentation) without referencing the source
• copying the answers of another student in any test, examination, or take-home assignment
• providing answers to another student in any test, examination, or take-home assignment
• taking any unauthorized materials into an examination or term test (crib notes)
• impersonating another student or allowing another person to impersonate oneself for the
purpose of submitting academic work or writing any test or examination
• stealing or mutilating library materials
• accessing tests prior to the time and date of the sitting
• changing name or answer(s) on a test after that test has been graded and returned
• submitting the same paper or portions thereof for more than one assignment, without
discussions with the instructors involved.

Group Projects and Group Work

Many courses in the I. H. Asper School of Business require group projects. Students should be aware
that group projects are subject to the same rules regarding academic dishonesty. Because of the
unique nature of group projects, all group members should exercise special care to insure that the
group project does not violate the policy on Academic Integrity. Should a violation occur, group
members are jointly accountable unless the violation can be attributed to a specific individual(s).

Some courses, while not requiring group projects, encourage students to work together in groups (or at
least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss
this issue as it relates to academic integrity with their instructor to avoid violating this policy.

In the I. H. Asper School of Business, all suspected cases of academic dishonesty are passed to the
Dean’s office in order to ensure consistency of treatment.