UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS

DEPARTMENT OF ACCOUNTING AND BUSINESS ANALYTICS

ACCOUNTING 414 – INTERMEDIATE FINANCIAL ACCOUNTING I

SYLLABUS – SECTION B1

WINTER 2022

Instructor: Jeffrey Herzog, MAcc, CPA Email: jherzog@ualberta.ca

Meeting Time: T/Th 12:30 – 1:50 pm Office: BUS 1-27B

Location: BUS 3-06 Office Hours: TBD

Class Format: In-Person

All times are stated in Mountain Time (MT)

1. Course Description

First of two courses covering principles, methods and applications of current and proposed

Generally Accepted Accounting Principles (GAAP). Emphasizes accounting for operating and

investment assets, and related income measurement and disclosure.

2. Learning Objectives

This course incorporates the Learning Goals of the BCom Program, specifically critical thinking,

teamwork, and oral and written communication. This is the first of two courses in intermediate

financial accounting designed to achieve the following objectives:

To develop a deeper understanding of the preparation of financial statements in

accordance with IFRS and ASPE.

To develop enhanced problem-solving skills.

To develop an appreciation of the usefulness of data analytics in accounting.

Specific skills developed in this course are outlined in the 2020 CPA Competency Map:

1.1.1 Evaluates financial reporting needs.

1.1.2 Evaluates the appropriateness of the basis of financial reporting.

1.1.3 Evaluates reporting systems, data requirements and business processes to support

reliable financial reporting.

1.1.4 Explains implications of current trends, emerging issues and technologies in

financial reporting.

1.1.6 Identifies specialized financial reporting requirements for specified regulatory and

other filing requirements.

1.2.1 Develops of evaluates appropriate accounting policies and procedures.

1.2.2 Evaluates treatment for routine transactions.

1.2.3 Evaluates treatment for non-routine transactions.

1.2.4 Analyzes treatment for complex events or transactions.

1.3.1 Prepares financial statements.

1.3.2 Provides routine financial statement note disclosure.

1.4.1 Evaluates complex financial statement note disclosure.

1.4.2 Evaluates financial statements including note disclosures.

1.4.3 Analyzes and provides input in the preparation of management communications.

1.4.4 Interprets financial reporting results for stakeholders (external or internal).

1.4.5 Analyzes and predicts the impacts of strategic and operational decisions on

financial results.

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3. Course Format

This is an in-person course with live lectures. However, lectures will be recorded for later

viewing – See the Recording of Lectures section of the syllabus for further details. Those

students that wish to view the lecture recordings rather than attend in-person lectures are

permitted to do so; however, students must accept whatever risks are involved with this choice.

Please note the following:

The midterm exam and final exam will be conducted in-person, unless otherwise

noted by the instructor.

Presence at lectures and participation in classroom discussions are important components

of this course. Students will serve their interests best by regularly attending class.

Students that regularly attend in-person lectures typically have higher grades (on average)

than those that do not attend.

Technological issues may prevent the instructor from recording certain lectures.

4. Academic Integrity

Absolute and complete academic honesty is expected of you in this course. It is important for

you as a student to behave in an ethical manner.

The University of Alberta is committed to the highest standards of academic integrity and

honesty. Students are expected to be familiar with these standards regarding academic honesty

and to uphold the policies of the University in this respect. Students are particularly urged to

familiarize themselves with the provisions of the Code of Student Behaviour (online at

https://www.ualberta.ca/governance/resources/policies-standards-and-codes-of-conduct/code-of-

student-behaviour) and avoid any behaviour that could potentially result in suspicions of

cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic

dishonesty is a serious offence and can result in suspension or expulsion from the University.

5. Course Outlines

Policy about course outlines can be found in Course Requirements, Evaluation Procedures and

Grading of the University Calendar.1

6. Evaluation

Your grade in this course will be based on the marks you obtain on two (2) online quizzes, one

(1) midterm exam, and one (1) comprehensive final exam. The marks will be weighted as

follows to determine your percentage mark in the course:

Online Quizzes 20%

In-class Midterm Exam 40%

In-class Final Exam 40%

Total 100%

These grades represent the only marks available to students. No additional work or extra credit

is available.

1 University Regulations – Academic Regulations – Evaluation Procedures and Grading System – Course

Requirements, Evaluation Procedures and Grading

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Grades reflect judgments of student achievement made by the instructor and must correspond to

the associated descriptor. These judgments are based on a combination of absolute achievement

and relative performance in a class.

Final letter grades will be determined based on the above statement and the University grading

guidelines as below.

Illustrative Sample Distribution of Grades:

Letter Grade Percentage Grade Percentage of Students

A+ 95%+ 6%

A 90%-94.99% 9%

A- 85%-89.99% 14%

B+ 80%-84.99% 16%

B 75%-79.99% 18%

B- 70%-74.99% 14%

C+ 65%-69.99% 9%

C 60%-64.99% 6%

C- 56%-59.99% 4%

D+ 53%-55.99% 2%

D 50%-52.99% 1%

F <50% 1%

Mean GPA 3.00

Median Grade B

These distributions are provided for guidance on grading. It is not required for grades in a

particular class to follow these distributions exactly, rather, approximating the distribution for an

appropriate level will ensure consistency in grading across fields of study and time. (EXEC 03

FEB 2003)

6.1 Online Quizzes

Two (2) scheduled online quizzes will be administered in this course through eClass.

Online quizzes are to be completed individually. This means that at any time before you submit

your quiz you are to be working on the quiz by yourself and not talk, email, or communicate with

anyone else. The quiz should not be discussed with anyone until after the deadline has passed.

You are welcome to use any materials from the course to assist you in completing the quiz. You

can start the quiz at any time between the open and close dates noted below, however you will

only have 30 minutes to write and submit each quiz, after which time the quiz will automatically

submit for grading. Each quiz will consist of approximately 15 questions, covering material from

the previous lectures, textbook readings, and chapter recommended questions assigned.

Questions will consist of multiple choice and numerical response.

You will only have one attempt at each quiz.

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Online quizzes are due as follows:

Quiz # Topic Coverage Quiz Opens Quiz Closes

1 Chapters 1, 2, 3,

and App. C

Thursday, January 27th

at 6:00 AM

Thursday, January 27th

at 8:00 PM

2 Chapters 7 and 8 Thursday, March 24th

at 6:00 AM

Thursday, March 24th

at 8:00 PM

6.2 Examinations

Unless otherwise noted by the instructor, all examinations in this course will be closed book and

delivered in-person. You will have seventy (70) minutes to write the midterm exam and two (2)

hours to write the final exam.

Midterm Exam – Tuesday, March 1st at 5:30 pm – BUS 1-05

Final Exam – Saturday, April 23rd at 9:00 am – Room TBD

Please note that the midterm exam will not be held during regular class time. If you have an

unavoidable commitment that conflicts with the midterm exam, please notify the instructor of the

conflict in writing (email is fine) as soon as possible, or a minimum of at least two weeks prior to

the exam date. An alternate time will be arranged for you to write the midterm (usually earlier in

the day).

Before each exam, students will be provided with more details on the exam format and contents,

as well as a sample of previous exam questions. Students may ask any questions they wish about

the exam contents either in class or on the eClass discussion board, however the instructor

reserves the right to decide whether a particular question will be answered.

Expectations for student conduct during exams are outlined in the University Calendar.2 As

noted, “students writing exams must be able to present their student ID cards (ONEcard) or other

acceptable photo identification.” Furthermore, “only those items specifically authorized by the

instructor may be brought into the exam facility.”

The following items are permitted at your seat during the exam:

Non-programmable calculator Food and beverages

Tissues Prescription glasses

Writing utensils (pens, pencils, highlighters, erasers, etc.) Keys and wallet

Feminine hygiene products Medication(s)

Foreign language dictionaries in print form3

You will need to leave all other items, including any personal electronic devices, backpacks,

coats, course materials, etc., at the front / side / back of the exam location. None of these

materials are allowed at your seat.

Please note that additional scrap paper will be available upon request.

Students may be required to show their CampusReady Pass before entering the exam location.

2 University Regulations – Academic Regulations – Examinations (Exams) – Conduct of Exams 3 Must be checked by the exam proctor prior to commencing the exam

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6.3 Remarking Policy for Online Quizzes and Midterm Exam

Marked online quizzes will be returned to students following the submission deadline. Marked

midterm exams will be returned to students within 5 to 10 business days following the

examination date. Grades and solutions to quizzes and midterm exams will be made available to

students after marked assessments have been returned.

For assessments administered through eClass, students can review their attempt, grade, and

solution by accessing the assessment link in eClass. Those students that did not attempt a

particular eClass assessment will need to contact the instructor for solutions.

Students should review the marking carefully and notify the instructor if they have any questions

about their marks. All remarking requests must be made within 5 business days following the

release of the assessment results. All appeals must be in writing via e-mail. Assessments

submitted for appeal may be subject to an entire review, which may result in a lower grade.

6.4 Absence from Term Work

Occasionally, life events occur that require a student to miss term work. However, excused

absences are not granted automatically and will be considered only for acceptable reasons such

as incapacitating illness, severe domestic affliction, or religious convictions.

Unacceptable reasons include, but are not limited to, personal events such as vacations,

weddings, or travel arrangements. When a student is absent without an acceptable excuse, a final

grade will be computed using a raw score of zero for the work missed. Any student who applies

for or obtains an excused absence by making false statements will be liable under the Code of

Student Behaviour.

6.5 Absence from Quizzes and Midterm Examinations

If you are absent from the quizzes or midterm exam for a legitimate reason, please email the

instructor within two (2) days (or as soon as possible). The instructor will review your request

for deferral and notify your Faculty office about the request. If the assessment is missed for an

acceptable reason, the weight of the assessment will be reallocated to the final exam. There will

be no deferred quizzes or midterm in this course.

6.6 Absence from Final Examination

Missed final exam procedures are outlined in the University Calendar.4

Please note that the instructor is not responsible for granting deferred finals. Instead, students

submit a request for final exam deferral to their Faculty office.

The deferred final exam will be held on Friday, May 6th at 9:00 am. Students are responsible

for notifying their instructor if their Faculty office approves them for a deferred final.

4 University Regulations – Academic Regulations – Attendance – Absence from Final Exams; University

Regulations – Academic Regulations – Examinations (Exams) – Conduct of Exams – Brief Absence from an Exam

and Cancellation of Paper During Exam

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6.7 Final Exam Viewing and Reappraisals

Marked final exams will not be returned to students. However, students can set up an

appointment with their instructor to view their final exam. Please note that no answer key will be

provided during this appointment. This is not a time to ask questions about how a question

should have been answered, but to review for any addition errors or marking issues.

If a student wishes to view their final exam, please e-mail the instructor after final letter grades

have been posted to Bear Tracks to set up an appointment.

Once final grades have been assigned, the instructor will not change the course grade except in

the case of a recording or calculation error.

Please see the University Calendar for information regarding applications for final exam

reappraisals.5

7. Course Materials and Activities

7.1 Textbook

Intermediate Accounting, Twelfth Canadian Edition, Volume I by Kieso, Weygandt,

Warfield, et al.6

The textbook is available at the University of Alberta Bookstore:

Physical textbook with WileyPLUS: ISBN 9781119496519 or 9781119772880

eBook with WileyPLUS: ISBN 9781119496540 or 2810000227189

If you would like to purchase the eBook, please follow the Campus eBookstore permalink to the

digital course material:

Winter 2022 ACCTG 414

Once you purchase an ebook version of the text through the U of A Bookstore, you should

receive a redemption code for your digital course materials. This redemption code is for the

bookstore website only and is not the same as an access code to WileyPLUS. Before you do

anything else, go to the U of A Bookstore website and Redeem your eBooks and Access Codes.

This will provide you with the information you need to access your course materials.

For more information about redeeming digital materials purchased through the U of A

Bookstore, check out their Digital Course Material FAQs.

To access the ebook, you will also need a WileyPLUS account. WileyPLUS is an online learning

environment that hosts learning resources created by the textbook publisher, including:

The ebook version of the text

Additional instructional videos

Additional practice problems for study

Follow the steps posted on eClass to set up your WileyPLUS account and access your course

materials.

5 University Regulations – Academic Regulations – Examinations (Exams) – Notification of Results – Reappraisals 6 Students wishing to use older versions of the textbook must accept whatever risks are involved. Older versions of

the textbook are similar, although not identical to the most current version. Textbook problem solutions will only be

posted for the most current version of the textbook.

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7.2 eClass

Students can view course materials and announcements on eClass. Please plan to check this site

regularly and/or make sure your settings in eClass will send you emails when there are updates.

The address for eClass is https://eclass.srv.ualberta.ca.

7.3 Suggestions for Studying

This is a demanding course. Students should expect to spend a considerable amount of time

outside of class in order to gain an adequate understanding of the course material. Success in this

course is highly correlated with success in subsequent accounting courses, so it is important that

you give this course the time and attention it requires. Below are some tips to help you succeed

in this course.

1. Make sure you are very comfortable with the material covered in Introductory Financial

Accounting (ACCTG 311 at U of A). You should be familiar with the major financial

statements, understand the links between these statements, understand accounting terms, and

be very comfortable writing journal entries and using T-accounts. If you are weak in any of

these areas, it is your responsibility to go back and review the material covered in ACCTG

311. We will briefly review this material when covering Appendix C in the textbook. After

that, I’ll assume that you understand these basics.

2. Read the course notes and textbook. If you read the course notes before we cover them in

class, you will get much more out of the class. The lecture will reinforce what you have

already read, and you will also have a chance to ask questions about concepts that were

confusing to you during your reading. You are not required to attempt the class discussions

or class exercises contained in the lecture notes before class – We will cover these during

class time. The instructor will post the lecture notes to eClass the weekend before a particular

topic is discussed. Following class, you should identify the concepts you are struggling with

and read any applicable sections of the textbook that cover those topics. You should also

review the textbook for material that was not covered in class. On exams, you will be held

responsible for the material in the textbook as well as what is covered in lecture notes and

class.

3. Work through the recommended problems from each chapter (see the tentative class

schedule). The solutions to the recommended problems are posted on eClass. Accounting is

best learned through problem-solving, so working through problems should be an important

part of your study routine.

4. Do not make the mistake of relying too much on the solutions when you are working through

problems. During an exam, you will have to work through problems from scratch, without

any notes or solutions next to you. Therefore, you should practice doing the same when

studying. Referring to the solutions when you get stuck and to check your final answers is

acceptable. However, if you can only complete the textbook problems by checking the

solution every single step of the way (or worse yet, if you only study the solutions instead of

actually working through the problems yourself), you probably won’t be well-prepared for

the exams.

5. Come to class (or at least watch the recordings). Presence at lectures, participation in

classroom discussions, and the completion of recommended questions are important

components of this course. Students will serve their interests best by regularly attending

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class. Those who choose not to attend must assume whatever risks are involved. Students are

responsible for all information provided in class (e.g., announcements, lectures etc.). If you

are absent from a class, it is your responsibility to arrange for someone else in the class to

provide you with the information you may have missed.

6. Finally, keep up with the course material. Do not wait until right before the exams to start

studying! This class covers a lot of material and some of it is very detailed. Study at a steady

pace as we go through each chapter, and you’ll be better-prepared for the exams.

8. Disruptions

If there is a disruption during the semester and we are unable to meet in-person, class will be

held over Zoom. Further guidance will be provided on eClass.

9. Recording of Lectures

Lectures will be recorded and posted to eClass within 24 hours.

Purpose and use of recordings – To support teaching and learning and remote-learning.

Recordings will not be used or disclosed for any other purpose unless required or

authorized by law.

Position of camera and mic – If applicable, the camera will be positioned to focus on the

instructor and podium only. It is not the intent to capture the image of students or other

participants. However, their image may be captured if they walk into the field of view.

Mics will be positioned to record the instructor’s voice. It is not the intent to capture

students’ voices. However, dialogue of student attendees who are sitting very close to the

mics and those viewing online synchronously (if applicable) may be picked up by the mic

recording.

Notification of recording – All lectures in this course will be recorded. Students will be

reminded of this as they enter the classroom.

Retention of recordings – The recordings will be securely stored within the University

records system (e.g. UAlberta Google Drive) and/or that of an approved and authorized

University service provider (e.g. UAlberta Zoom or UAlberta YuJa Media). The lecture

recordings will be retained for no longer than is necessary for the purposes for which the

recording was created. Access to the recording will be limited to those that need to know

in order to perform their duties as University employee’s or as required or authorized by

law.

In the event classes must be held over Zoom, students with concerns over privacy are advised to

adjust their Zoom account settings accordingly:

Turn off “video” during the meeting.

Turn off “audio” during the meeting.

Change their profile name to “Anonymous.”

Remove their profile photo.

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10. Other

10.1 E-mail

Please do not email the instructor with questions concerning course content. Instead, these

questions should be posted on the eClass discussion boards so all students can benefit from the

instructor’s response. Questions can be posted on the discussion boards anonymously.

Students are welcome to answer questions posted on eClass in a professional manner. The

instructor reviews all posts and will add clarification where necessary.

If a student needs to email the instructor, please include “ACCTG 414” in the subject line.

The instructor aims to respond to emails and discussion board posts within 2 business days

(Monday to Friday).

10.2 Taking Pictures, Recording Audio or Video

Audio or video recording, digital or otherwise, of lectures, labs, seminars, or any other teaching

environment by students is allowed only with the prior written consent of the instructor or as a

part of an approved accommodation plan.

10.3 Course Materials

Instructor agreements with CPA Canada and John Wiley & Sons, Inc. expressly prohibit

distributions of materials outside of eClass. Student or instructor content, digital or otherwise,

created and/or used within the context of the course is to be used solely for personal study, and is

not to be used or distributed for any other purpose without prior written consent from the content

author(s).

10.4 Accommodations

Students should contact the instructor as soon as possible if they require course accommodations,

such that appropriate arrangements can be made.

10.5 CPA Education Foundation

Thank you to the CPA Education Foundation for supporting business education at the University

of Alberta.

10.6 Disclosure Requirements and Data Analytics and Information Systems (DAIS)

Students will be asked to completed certain exercises on financial statement disclosures and

DAIS outside of class time. The instructor will provide more information on these exercises in

the course notes posted on eClass.

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ACCTG 414 – B1 TENTATIVEi CLASS SCHEDULE

Class Date Quiz Topics Textbook Recommended Questionsii

1 R Jan 6 The Canadian Financial Reporting Environment Ch. 1 None

2 T Jan 11 Introduction to The Conceptual Framework

Underlying Financial Reporting

Ch. 2

2-1 to 2-11 Note 1

3 R Jan 13 Data Analytics and The Accounting Information

System App. C

BEC.1, BEC.6, EC.1, EC.3, EC.4, EC.6, EC.11, PC.1,

PC.2, PC.6, PC.7, PC.8 4 T Jan 18

5 R Jan 20

6 T Jan 25 Reporting Financial Performance Ch. 4

BE4.14, BE4.16, BE4.18, E4.1, E4.3, E4.10, E4.12,

E4.13, E4.18, E4.19, P4.14, P4.17 7 R Jan 27 Q#1

8 T Feb 1

Revenue Recognition Ch. 6 E6.5, E6.11 (ignore part e), E6.15, E6.18, E6.19,

E6.26, E6.29, E6.34, E6.37, E6.39, P6.3, P6.5, P6.9

9 R Feb 3

10 T Feb 8

11 R Feb 10

12 T Feb 15 Financial Position and Cash Flows Ch. 5 E5.2, E5.7, E5.8, E5.11, E5.16, E5.18, P5.11

13 R Feb 17

Feb 21 – 25 No Classes – Family Day and Reading Week

14 T Mar 1 Regular class cancelled – MIDTERM @ 5:30 pm

15 R Mar 3 Cash and Receivables Ch. 7

BE7.9, BE7.12, BE7.15, BE7.16, E7.1, E7.6, E7.9,

E7.15, E7.21, E7.23, P7.2, P7.4 16 T Mar 8

17 R Mar 10

Inventory Ch. 8 BE8.15, BE8.16, E8.4, E8.8, E8.13, E8.14, E8.15,

E8.16, E8.20, E8.23, E8.26, P8.1, P8.13 18 T Mar 15

19 R Mar 17

20 T Mar 22 Investments Ch. 9

BE9.24, E9.4, E9.7, E9.8 (effective yield on bond is

8.03%), E9.9, E9.12, E9.14, E9.17, E9.24, E9.27, P9.1 21 R Mar 24 Q#2

22 T Mar 29 Property, Plant, and Equipment Ch. 10

E10.9, E10.10, E10.14, E10.15, E10.17, E10.19,

E10.27, E10.29, P10.2, P10.7, P10.8 23 R Mar 31

24 T Apr 5 Depreciation, Impairment, and Disposition Ch. 11 BE11.15, E11.5, E11.6, E11.7, E11.9, E11.20, E11.23,

E11.26, P11.10, Note: ignore sum-of-the-years method

25 R Apr 7 Intangible Assets and Goodwill Ch. 12 E12.4, E12.6, E12.7, E12.8, E12.18, E12.19, P12.5,

P12.12

Note 1:

Chapter 2 and Chapter 3 of the textbook will be discussed throughout the course. Students are responsible for reading and completing the

recommended questions for these chapters as the applicable topics arise throughout the course. The recommended questions for these

chapters are as follows: BE2.1, BE2.7, BE2.8, BE2.13, E2.2, E2.3, E2.6, E2.7, BE3.8, BE3.18, E3.6, and E3.7.

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i This is a general guideline for the semester. Topics will be covered in sequence; however, it may be necessary to go faster or slower than

indicated. ii Solutions to the recommended textbook problems will be posted on eClass. These are the only solutions I provide. If you would like

additional practice, there are additional problems and solutions available in the textbook and on WileyPLUS.