Location: Upper Iowa University – Madison, WI Campus
Course: Intermediate Financial Accounting II – BA-322
Prerequesite – BA-321
Term Information: Fall Term 2 October 26, 2009 through December 19, 2009
Thursday Night 5:30pm to 10pm CST
Professor – Donald Majors
Biography: BSA – Upper Iowa University Madison Center 2001
MBA – Accounting Upper Iowa University 2006
DBA – University of Phoenix Expected Graduation date 2011
Email is preferred method of communication with professor
Kieso, Weygandt, and Warfield
Intermediate Accounting 13th Edition
An extension of the theory and principles of financial accounting, with emphasis
on FASB pronouncement applicable to accounting for assets.
1. Identify the major policy setting bodies for financial reporting and define the
elements included in the conceptual framework for financial reporting
2. Summarize the steps in the accounting cycle and prepare entries to record
transactions, as well as adjusting, closing, and reversing entries.
3. Prepare in proper format a balance sheet, income statement, statement of cash
flows, and statement of stockholder’s equity.
4. Define cash values and accounts receivable and explain issues related to
recognition and valuation of receivables.
5. Describe and compare cost flow assumptions used to account for inventories
and compute inventory valuations under each assumption.
6. Identify costs included in initial valuation of property, plant, and equipment,
appropriate reporting of costs subsequent to acquisition and treatment of
disposal of capital assets.
7. Identify and compare acceptable depreciation methods and compute
depreciation under each method.
8. Define types of intangible assets and describe appropriate accounting for each
9. Prepare the four basic financial statements according to generally accepted
A= 93 to 100%
A- = 90 to 92%
B+ = 87 to 89%
B = 83 to 86%
B- = 80 to 82%
C+ = 77 to 79%
C= 73 to 76 %
C- = 70 to 72%
D+ = 67 to 69%
D= 63 to 66%
D- = 60 to 62%
F= 59% and below
Daily Assignment 24% or 240 Points
Writing Assignment 10% or 100 Points
Midterm Exam 20% or 200 Points
Final Exam 40% or 400 Points
Participation 06% or 60 Points
Total 100% or 1000 Points
Missed Assignments / Exams:
Late assignments are not accepted. Homework is due after being reviewed and
corrected during the class session. If you are not present, you will not receive credit for
Attendance is required in order to gain a thorough understanding of the material.
Participation points are earned through active participation in the class. If you are not in
attendance you can not earn the participation points.
Exams: There are two exams for the class; a midterm and a final exam. The dates
outlined below are firm and failure to make the class will result in a score of zero being
Readings and Assignments:
Week 1 – October 29th
Lecture Chapter 12 and Chapter 13
Exercises 1-10 all Chapters 12 & 13
Read Chapter 3 & 4
Week 2 - November 5th
Review Week 1 Homework
Lecture Chapter 14 and Chapter 15
Exercises 1-10 all Chapters 14 & 15
Week 3 - November 12th
Midterm Exam Chapters 12-15
Week 4 - November 19th
Lecture Chapter 16 through 19
Exercises 1-10 all Chapters 16 through 19
Week 5 - November 26th
Exercises Chapters 16-19 continuation
Thanksgiving (Class to work from Home)
Week 6 - December 3rd
Review Week 4 & 5 Homework
Lecture Chapter 20 and Chapter 21
Exercises 1-10 all Chapter 20 & Chapter 21
Week 7 - December 10th
Review Week 6 Homework
Lecture Chapter 22 and Chapter 23
Exercises 1-10 all Chapter 22 & Chapter 23
Written Assignment Due
Week 8 - December 17th
Review Week 7 Homework
Encyclopedias of any kind, including the very popular Wikipedia, can be useful to
help gather background information and point to the way to more reliable sources.
However, they are not considered appropriate sources for papers at the graduate or
This course fills the requirement for Intermediate Financial Accounting as
required by the BSA program at Upper Iowa University – Madison Center.
Research a recent FASB statement. Provide a summary of the statement. The
summary needs to be 2 pages in length. In the summary, the student is to provide their
thoughts on the importance of the statement and how the statement relates to the class at
The purpose of an accounting major is to build on the foundation of the business core to
enable the learner to understand accounting theory. It prepares the learner for public,
private, and governmental accounting careers. By taking this class, the student will be
Demonstrate an understanding of, and the ability to apply, the statements and
standards (GAAP) developed by the Financial Accounting Standards Board and its
Note: Active participation in all class activities is a component of the grade. Regular and
timely attendance is expected. This class is a learning community. While critical thinking
and differences in opinions are encouraged, it is the expectation that learners support each
other in their education. One class can be made up by alternative assignments.
Please discuss any needs for scheduling accommodations with the instructor in advance,
unless the situation is an emergency. It is the student's responsibility to make
arrangements to make up for missed content with the instructor. Please review Upper
Iowa University Policies on Administrative Withdrawal related to repeated absences.