University of Jordan Jordan University Business School (JUBS)

Transcription

1 1. Department Name: Accounting 2. Program Name: BA Accounting 3. Program Code Course Code and Title: Intermediate Accounting 2 5. Course credits: 3 6. Pre-requisites: Intermediate accounting 1 7. Course Instructor/ Coordinator Name and Dalia Ibrahim Mustafa Dalia.Mustafa@ju.edu.jo 8. Course web-page: 9. Academic year: Semester: First * Second 1 st Summer 2 nd Summer 11. Textbook(s) (Make sure you have one textbook resource materials online) Kieso, D. E., Weygandt, J. J., and Warfield T. D., Intermediate Accounting, IFRS edition, John Wiley & Sons, Inc., 20. (The book is available at the University Book Shop) 12. References: (Make sure that the references are available in the Library and online) 13. Other resources used (e.g. periodicals, software, elearning, site visits, etc.): 14. Course description (from the catalog) This course is a continuation of intermediate Accounting 1. The topics covered include accounting of Acquisition and Disposition property plant and equipment, Depreciation, Impairments, and Depletion, Current Liabilities, Provisions, and contingencies, Non-current Liabilities, Investments, Revenue Recognition Princiles, Statement of Cash Flows, calculation of earnings per share. 15. Course Intended Learning Outcomes: (All CILOs must start with an action verb, please use ANNEX I for getting a better understanding of the Action Verbs and Blooms Taxonomy. The mapping of the CILOs with relevance to the PILOs of the program.) CILOs (Preferred not to exceed 12 CILOs) 1. Define different types of assets, liabilities and equity accounts. Mapping to PILOs a b c d e f g h i J k 2. Describe the accounting problems associated with determining the cost of plant assets especially self- 1 JUBS-March 2017

2 constructed assets 3. Use Depreciation methods; meaning of depreciation; choice of depreciation methods. In addition to that, calculate and explain the concept of Impairment of value, and Fair value option. And define depletion of natural resources and the amortization of intangibles. 4. Distinguish between different types of current liabilities, provisions and contingent liabilities (General). And explain the different accounting treatments of them. 5. Describing different types of non-current liabilities, and Calculating Premium and discount for noncurrent liabilities; through amortization schedules of effective interest rate. 6. Differentiating different types of shares (ordinary, preference and treasury) and dividends (cash, share, property and liquidating dividends). And 2 JUBS-March 2017

3 illustrating the accounting treatment for issuance of those types of shares and dividends. 7. Differentiate between Different types of investments. And illustrate the accounting recording of these types. 8. Describe accounting issues for revenue recognition at point of sale. And solving cases of revenue recognition related to long-term contracts. 9. Describe the format of the statement of cash flows, and preparing it in the two formats (direct and indirect methods). 10. Graduates should have general knowledge, organizational and business knowledge, and accounting knowledge. To illustrate the uses of accounting information in an upper level undergraduate academic setting. 11. To gain an intuition regarding how to attack various kinds of accounting and reporting issues. 12. Show the disclosure of various issues in all topics, and explain its 3 JUBS-March 2017

4 importance of users of the financial statements. University of Jordan 16. Course evaluation: (Formative and summative assessment methods are expected) Assessment Type Details/ Explanation of Assessment in relation to CILOs Number Weight Date(s) Quizzes and 5% Midterms 30% Second Exam 15% Final 50% Total 100% Quizzes and 5% 17. Description of Topics Covered (The description should be from the textbook used) Topic Title (e.g. chapter title) Acquisition and Disposition of Property, Plant, and Equipment Description Determining the cost of plant assets, covering special issues such as capitalization of interest and government grants. Subsequent costs after purchase. Disposal of plant assets. Depreciation, Impairments, and Depletion 1. Explain the concept of depreciation. 2. Identify the factors involved in the depreciation process. 3. Compare activity, straight-line, and diminishing-charge methods of depreciation. 4. Explain component depreciation. 5. Explain the accounting issues related to asset impairment. 6. Explain the accounting procedures for depletion of mineral resources. 7. Explain the accounting for revaluations. 8. Explain how to report and analyze property, plant, equipment, and mineral resources. 4 JUBS-March 2017

5 Current Liabilities, Provisions, and contingencies 1. Describe the nature, type, and valuation of current liabilities. 2. Explain the classification issues of short-term debt expected to be refinanced. 3. Identify types of employee-related liabilities. 4. Explain the accounting for different types of provisions. 5. Identify the criteria used to account for and disclose contingent liabilities and assets. 6. Indicate how to present and analyze liability-related information. Non-current Liabilities 1. Describe the formal procedures associated with issuing long-term debt. 2. Identify various types of bond issues. 3. Describe the accounting valuation for bonds at date of issuance. 4. Apply the methods of bond discount and premium amortization. 5. Explain the accounting for long-term notes payable. 6. Describe the accounting for the extinguishment of noncurrent liabilities. 7. Describe the accounting for the fair value option. 8. Explain the reporting of off-balance-sheet financing arrangements. 9. Indicate how to present and analyze non-current liabilities. EQUITY 1. Discuss the characteristics of the corporate form of organization. 2. Identify the key components of equity. 3. Explain the accounting procedures for issuing shares. 4. Describe the accounting for treasury shares. 5. Explain the accounting for and reporting of preference shares. 6. Describe the policies used in distributing dividends. 7. Identify the various forms of dividend distributions. 8. Explain the accounting for small and large share dividends, and for share splits. 9. Indicate how to present and analyze equity. 5 JUBS-March 2017

6 Investments 1. Describe the accounting framework for financial assets. 2. Understand the accounting for debt investments at amortized cost. 3. Understand the accounting for debt investments at fair value. 4. Describe the accounting for the fair value option. 5. Understand the accounting for equity investments at fair value. 6. Explain the equity method of accounting and compare it to the fair value method for equity investments. 7. Discuss the accounting for impairments of debt investments. 8. Describe the accounting for transfer of investments between categories. Revenue 1. Apply the revenue recognition principle. 2. Describe accounting issues for revenue recognition at point of sale. 3. Apply the percentage-of-completion method for long-term contracts. 4. Apply the cost-recovery method for long-term contracts. 5. Identify the proper accounting for losses on long-term contracts. 6. Describe the accounting issues for service contracts. 7. Identify the proper accounting for multiple-deliverable arrangements. Statement of Cash Flows 1. Describe the purpose of the statement of cash flows. 2. Identify the major classifications of cash flows. 3. Differentiate between net income and net cash flow from operating activities. 4. Contrast the direct and indirect methods of calculating net cash flow from operating activities. 5. Determine net cash flows from investing and financing 6 JUBS-March 2017

7 activities. 6. Prepare a statement of cash flows. 7. Identify sources of information for a statement of cash flows. 8. Discuss special problems in preparing a statement of cash flows. 9. Explain the use of a worksheet in preparing a statement of cash flows. 18. Course Weekly Breakdown: Week Date Topics covered CILOs Teaching Method Assessment 1 Jan. 29 th- February 2nd 2 Feb. 5 th - 9 th 3 Feb. 12 th- 16th 4 Feb. 19 th 23 rd 5 Feb. 26 th March 2 nd 6 Mar. 5 th - 9 th 7 Mar. 12 th 16 th Acquisition and Disposition of Property, Plant, and Equipment SO (1 7) Acquisition and Disposition of Property, Plant, and Equipment SO (1 7) Acquisition and Disposition of Property, Plant, and Equipment SO (1 7) Depreciation, Impairments, and Depletion SO (1 8) Depreciation, Impairments, and Depletion SO (1 8) Current Liabilities, Provisions, and contingencies SO (1 6) Current Liabilities, Provisions, and 2, 2, 2, 3, 3, 4, 4, 7 JUBS-March 2017

8 contingencies SO (1 6) 8 Mar. Non-current Liabilities 19 th- 23rd 9 Mar. 26 th Apr. 2 nd 6 th 11 Apr. 9 th - 13 th 12 Apr. 16 th 20 th Apr. 23 rd 27 th Apr. 30 May 4 th May 7 th SO(1 9) Non-current Liabilities SO(1 9) 5, 5, Equity 6, Equity 6, Investments SO (1-8) Investments SO(1 8) Revenue SO(1 8) Statement of Cash Flows SO(1 8) Statement of Cash Flows SO(1 8) 7, 7, 8, 19. Others: Attendance policies: Absences from exams and handing in assignments on time: Description Students are not allowed to miss more than 15% of the classes during the semester. Failing to meet this requirement will be dealt with according to the university disciplinary rules. Health and safety procedures: Honesty policy regarding cheating, plagiarism, misbehavior: 8 JUBS-March 2017

9 Course Coordinator: Type the Name Add your Signature Head of Department: Type the Name Add your Signature Head of curriculum committee/ School Type the Name Add your Signature Level: Dean: Type the Name Add your Signature Approved by the Program Coordinator/ Head of the Department on: Type the date: DAY/MONTH/YEAR Copy to: Head of Department Assistant dean for Development and Quality Assurance Course Portfolio 9 JUBS-March 2017