Financial Accounting and Reporting II
Course Code: ACG 3111
Credit Hours: 3
Effective beginning: 2020-21
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:
Wahlen/Jones/Pagach
Intermediate Accounting: Reporting and Analysis,3rd edition,
Loose-leaf version of the book bundled with 2 term CNOWv2 Printed Access Card, ISBN: 978-1-337-78828-1
Assignment/course outline:
The following topics will be covered in this course at the discretion of the instructor:
- Current Liabilities and Contingencies
- Long-Term Liabilities
- Stockholders’ Equity
- Dilutive Securities and Earnings per Share
- Investments
- Revenue Recognition
- Accounting for Income Taxes
- Accounting for Pensions and Postretirement Benefits
- Accounting for Leases
- Accounting Changes and Error Analysis
- Statement of Cash Flows
- Full Disclosure in Financial Reporting
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 student learning outcomes | Discipline-level learning outcomes | Assessment 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:
|
BA-1, BA-2, BA-3, BA-4, BA-5 |
Homework, tests, quizzes |
- Attend and participate in class regularly.
- Read all assigned material before class.
- Study in-class notes and online (Canvas) materials.
- Complete assigned projects in a timely manner to enable reflections and revisions on the final product.
- Participate in discussions.
- Demonstrate your mastery of the required skills on quizzes, exams, etc.
- Complete all assignments with promptness and accuracy.
- All written documents as well as online assignments must be completed using correct grammar, spelling, and structure.
The grading breakdown is subject to change at the discretion of the instructor.
Quizzes |
up to 40% |
Test (which includes Midterm and Final) |
up to 60% |
Assignments, Projects and/or Labs |
up to 40% |
Participation |
up to 20% |
Please see your first day handout for individual instructor grading schemes.
College-wide policies and resources
For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.