ACC 2020 INTERMEDIATE ACCOUNTING - EQUITIES. Section A01 (Tues/Thurs, 7:00PM 9:30 PM) COURSE OUTLINE

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1 University of Manitoba I. H. Asper School of Business Department of Accounting and Finance June August 2008 ACC 2020 INTERMEDIATE ACCOUNTING - EQUITIES Section A01 (Tues/Thurs, 7:00PM 9:30 PM) COURSE OUTLINE Instructor: Office: Office hours: Phone: Fax: John Jabs 434 Drake Centre Tuesday / Thursday 6:00PM to 7:00PM (204) (204) jjabs@deloitte.ca To access course website 1. From the University of Manitoba s home page ( click on CURRENT STUDENTS and then WEBCT. Log into WebCT using your UMnetID. If you do not yet have a UMnetID, there is a link on the WebCT login page ( Claim your id ) that will take you through the University s claimid procedure. 2. On your "mywebct" page, click on the ACC 2020 course title. OBJECTIVES OF THE COURSE This course is the second of a two-part series in Intermediate Financial Accounting. The course focuses predominantly on the equities (liabilities and owners equity) side of the balance sheet. This is a demanding course, designed to give you a thorough understanding of the framework, concepts and techniques of accounting that you will need to proceed with upper level courses in financial accounting. At the conclusion of this course you will be expected to: 1. have an understanding of financial accounting concepts and generally accepted accounting principles (GAAP), as they apply to the topics covered in this course; 2. have developed professional judgement in analyzing accounting issues and recommending accounting policies; and 3. have developed skill in applying accounting standards to situations and problems.

2 ACC 2020 (June - August 2008) Course Outline / Page 2 of 6 REQUIRED TEXTS Beechy, T., and J. Conrod, Intermediate Accounting (3rd ed.), vol. 2, 2005 (shrink-wrapped interactive Learning Coursepak version), McGraw-Hill Ryerson (available at the Campus Bookstore) J. Jabs, ACC 2020 Class Notes: June - August 2008 (available at the Campus Bookstore) Canadian Institute of Chartered Accountants, CICA Handbook (see appendix 3) 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. Readings (see Appendix 2) have been selected and assigned for each topic covered in the course. Problems and cases will be assigned during the semester, some to be handed in, some for class discussion and some for self-study. The readings will be most effective if completed prior to class. Solutions for problems and cases from the Beechy textbook will be available in class or through the course website. ALLOCATION OF GRADES Midterm examination (Thursday, July 15th, 7:00PM to 9:00PM, in 115 & 117 Drake) Final examination (To be scheduled by the Registrar s Office) 40% 60% 100% Examinations The midterm examination will test all material covered in chapters 12 through 16 of the textbook, including the assigned appendices (days 1 through 12; see appendix 1 for more details). The final examination will test all material covered throughout the entire course. For each of the examinations, each student will be allowed to bring calculators, pens and pencils. No other materials will be permitted. Students who miss the midterm examination for legitimate reasons (medical, compassionate, academic conflict or university sports team travel) will have the marks assigned to that examination added to the final examination. In all cases of absence on an examination date, I should be advised within seven working days of the examination date and receive suitable documentation. Students who miss the final examination must apply to the Undergraduate Program Office in their faculty for possible deferred examination privileges. Successful applicants will write a deferred final examination on Friday, August 16, 2008, 9:00 AM 12:00 PM.

3 ACC 2020 (June - August 2008) Course Outline / Page 3 of 6 GUIDELINES FOR STUDENT CONDUCT A student s conduct in class will depend on the nature of the class, the technologies available and the professor. To avoid misunderstandings, I include here a list of guidelines that will hopefully enhance the Equities Experience for all students. The guidelines are derived from general principles of professional courtesy, contribution and service that will serve you well throughout your career. Classroom conduct Be on time. The class will start promptly at the time set by the university. Students should be seated and the professor s presentation properly set up by this time. Occasionally, things happen that will get in the way, but these things should be rare. Address your comments in class to the professor. Talking with your neighbour distracts students sitting around you and the professor. Questions directed to the professor, on the other hand, almost always help to clear up confusion that other students in the room have. Turn off cellphones. Be here now. If you come to class, come to class. Put away newspapers, mp3 players, and other materials that are not related to the class. Asking questions/asking for help Questions are important as they help me to deal with your difficulties and help to point out problems with the textbook and my materials. I encourage questions in class and during my office hours. In the interest of fairness to the other students, please do not ask for information or resources (e. g., exam study tips, my lecture notes) that are not available to all students. can be a useful way of dealing with smaller issues. I respond to all s and answer questions where practical. If the question is too complicated (e. g., Can you explain pension accounting to me?), I will ask you to come and see me in my office. Some more specific guidelines: Tell me who you are. Please give your full name and your class when you write to me. Use a brief but descriptive subject line to help me get back to your if I need to do some research first. Please avoid unhelpful subject lines like Question.

4 ACC 2020 (June - August 2008) Course Outline / Page 4 of 6 APPENDIX 1. TENTATIVE CLASS SCHEDULE Date Days Covered June 24 1,2 June 26 3,4 July 1* No class July 3 5,6 July 4* 7,8 July 8 9,10 July 10 11,12 July 15 Midterm Exam July 17 13, 14 July 22 15, 16 July 24 17,18 July 29 19,20 July 31 21,22 August 5 23 August 7 Review Class August 9 Final exam * Note that there are no classes on Tuesday, July 1 (Canada Day). A make-up class is scheduled by the university for July 4 (Friday). Note that this date is set by the university and cannot be changed.

5 ACC 2020 (June - August 2008) Course Outline / Page 5 of 6 APPENDIX 2. ASSIGNED READINGS AND SUGGESTED PROBLEMS The assigned chapters DO NOT include the appendices unless specifically noted. Day Topic Readings 1 In-Class Suggested Liabilities 12 (except Foreign Exchange Issues, pp ), Time Value of Money tutorial on course website Shareholders Equity 13 Complex Debt and Equity Instruments Accounting for Corporate Income Taxes Leases Pensions and Other Post-Retirement Benefits (+ appendix) 18 Earnings per share 19 Restatements Cash Flow Statement 21 (Appendix 1 only) A12-1, A12-2, A12-4, A12-10, A12-11, A12-20, A12-24, A12-27 A13-3, A13-7, A13-11, A13-16, A13-19 A14-3, A14-9, A14-13, A14-21, A14-24 A15-1, A15-8, A15-14, A15-24, A15-29, A16-14, A16-19 A17-3, A17-12, A17-16, A17-25, A17-31, A17-38 A18-3, A18-9, A18-31 A19-2, A19-3, A19-7, A19-22, A19-31 A20-2, A20-13, Case 12-1, Case 12-5, A12-5, A12-6, A12-13, A12-15, A12-21, A12-22, A12-25, A12-31 Case 13-1, A13-1, A13-2, A13-4, A13-5, A13-7, A13-10, A13-14, A13-21, A13-28, A13-33 Case 14-1, A14-1, A14-4, A14-5, A14-8, A14-11, A14-12, A14-14, A14-15, A14-19, A14-26, A14-31, A14-32 Case 15-2, A15-2, A15-4, A15-7, A15-17, A15-19, A15-25, A15-27, A15-28, A16-6, A16-8, A16-10, A16-16 A17-2, A17-4, A17-11, A17-14, A17-23, A17-24, A17-26, A17-28, A17-30, A17-39, A17-40 A18-4, A18-10, A18-12, A18-18, A18-19, A18-21, A18-23, A18-24, A18-28, A18-29 A19-4, A19-7, A19-9, A19-10, A19-13, A19-17, A19-20, A19-26, A19-28 Case 20-2, A20-3, A20-4, A20- A , A20-12, A20-14, A20-30 Singal A21-26 (pt 1), A21-27 (pt 1), A21-30 Notes 1. Readings refer to chapters and/or appendices in the Beechy text or material available on the course website. 2. Suggested exercises, problems and cases are from the Beechy textbook. I encourage you to attempt these questions on your own. Solutions to the suggested questions are available on the course website.

6 ACC 2020 (June - August 2008) Course Outline / Page 6 of 6 APPENDIX 3. THE CICA HANDBOOK ON THE UNIVERSITY OF MANITOBA LIBRARIES WEBSITE The CICA Handbook is available in electronic format on the University of Manitoba Libraries website. To access the Handbook: 1. From the University of Manitoba homepage (umanitoba.ca), click on THE UNIVERSITY and then LIBRARIES. 2. Click on E-LIBRARY. 3. On the Research Databases line, click on by name. 4. On the Databases A Z page, click on C and then scroll down to, and click on, CICA Standards & Guidance Collection. 5. 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. 6. On the Knotia.ca page, click on CICA Standards & Guidance Collection. 7. The most efficient way to access a particular section in the Handbook is to enter the section number in the Fetch box on the left-hand side of the screen and click on Go. The Handbook is accessible on campus or from off-campus with an internet connection. The CICA Handbook subscription is provided by the Institute of Chartered Accountants of Manitoba. A list of the Handbook sections that are directly relevant to this course is presented below. Many of the more global sections (e. g., 1000, 1100, and many of the others that start with 1) are relevant, to differing extents, to all of the topics in ACC CICA Handbook Sections Relevant for ACC 2020 Accounting changes Leases Long-term debt Share capital Contractual obligations Contingencies Employee future benefits Earnings per share Financial instruments recognition and measurement Financial instruments disclosure and presentation