Course Syllabus & Schedule

ACC 202 INTERMEDIATE ACCOUNTING II

Instructor:

Semester:

Email:

Section:

Office:

Time:

Room:

Office Hours: x

Catalog Course Description, Prerequisites, and Minimum Grade

Covers plant assets, depreciation, depletion, amortization, long-term and short-term liabilities,
corporations and their stock transactions, retained earnings, equity financing, computation of payroll
and associated payroll taxes with their quarterly tax return filings. Students will apply the skills
learned by performing accounting services in a service learning environment.
Prerequisites: ACC105.
Minimum grade: "C"

Learning Resources
Intermediate Accounting Principles & Analysis; Warfield, Weygandt, Kieso; 2nd edition (ISBN13-978-0471737933)
Electronic databases
Handout problems available on BrainHoney (Internet)

Assessment and Grading

Grading Scale

Grading Components

(total points earned divided by total points possible)

Score

Grade

Score

Grade

Score

Grade

94-100%

80-83%

B-

67-69%

D+

90-93%

A-

77-79%

C+

64-66%

87-89%

B+

74-76%

60-63%

D-

84-86%

70-73%

C-

0-59%

Assessment Activities
Prepare:

Assigned exercises, problems, and

handout problems.
Quizzes on Reading Preparation Check.

Teach One Another: Taking part in class

Points
320
100
80

activities, Instructor evaluation

Ponder: Ready Reference Sheet

Prove: :

4 tests; 100 test points each

Quizzes
Total Points

40
400
60
1,000

Learning Outcomes
LDSBC cultivates a nurturing environment where practical skills are learned and discipleship is
strengthened.
There are three types of learning outcomes guiding curriculum and authentic learning experiences at
LDSBC. Students demonstrate the 1) College-Wide Outcomes, 2) Program Competency Outcomes, and 3)

Course-Specific Outcomes through the Learning Pattern as they Prepare, Teach One Another, Ponder, and
Prove their knowledge, skills, and abilities.
Through this process, all LDSBC graduates are prepared to contribute in their homes, communities, the
Lords church, and in future employment.

1. College-Wide Outcomes
1.
2.
3.
4.
5.
6.

Confirm personal testimony in the restored gospel of Jesus Christ

Collaborate with others using interpersonal skills in an honest, ethical, and Christ-like manner
Communicate effectively using written and verbal presentation principles
Construct new knowledge using technology and information resource tools
Comprehend and think critically to solve problems
Cultivate a strong, professional work ethic and lifelong learning opportunities

2. Program Competency Outcomes

At the completion of the Accounting-Financial/Managerial Program, the graduate is able to:
7. Analyze, interpret, and record business economic transactions in the accounting records of a business
enterprise
8. Conduct computerized accounting for a small business as the sole in-house accountant
9. Perform entry level accounting procedures in any size business enterprise
10. Create and explain the results of operations as reflected in the financial statements of the enterprise
11. Perform basic accounting functions appropriate for the various legal forms of business
12. Assist management in preparing financial ratio analysis, budgets, revenue and cost projections,
capital asset and investment evaluations
3. Course-Specific Outcomes
At the completion of ACC 202, the student is able to:
13. Prepare, examine, and analyze accounting records, financial statements, and other financial reports to
assess accuracy, completeness and conformance to reporting and procedural standards
14. Interpret and evaluate an enterprises financial statements and their inter-relationship one to another,
and consult with / explain to members of management the impact of those stated results on the
business enterprise, including implications for the future
15. Interpret transactions and prepare journal entries including adjusting (apply matching concept) and
closing entries (nominal vs permanent accounts)
16. Post to general ledger. Prepare trial balance, reconcile as needed
17. Manually, or through the use of a computer-based accounting system, complete the accounting cycle
for a typical small business
18. Recognize, evaluate, and describe the needs of the many stakeholders of a business enterprise as
pertaining to accounting for the economic business transactions of said enterprise

Program and Course Policies

TESTS & QUIZZES

(Prove)

WHEN

SPECIFICS

POINT ALLOCATION

-Tests and
quizzes will be
given at the end of
each section (see
schedule above).
There are 4 sections
during this semester.

-QUIZZES will cover terminology of the current section

-Test points will total 100.

-All four tests must be taken
Test grade points total 400.
Your test grade points will be
determined by the fraction of
your total test points divided by
400.
-Section Quizzes will total
15 grade points each and none
will be dropped. Only 30 minutes
of class time will be used for
taking the quiz, and then it will
be corrected during the same
class period.

including assigned reading and class notes. True/false,

multiple choice, matching and fill-in-the -blank problems
may be used.
- TEST PROBLEMS from the current section will be
given consistent with the homework that has been assigned.
Calculators are allowed, but no cell phones can be used
as calculators (in fact, must be turned off and not available
during the test).
- TEXT BOOKS will not be allowed or used during
tests. However, you will be allowed to use your homework
and hand-written notes taken during class activities Of
course, you are not required to have any of these items
during the test. These items cannot be shared with other
students during a test.
-TIME will be limited to one class period. You are
encouraged to answer as many parts of the test without
reference to your notes and homework in order to complete
the test in the time allotted. Remember that reference to
these materials will use a portion of your allotted time.
You will likely not finish the test if you must reference your
items for every test exercise.

LATE OR MAKE-UPS
-Make-up tests / quizzes
will only be allowed if
arrangements are made in
advance with the
instructor. Only one makeup will be allowed per
semester It is expected that
students will take tests /
quizzes on the day
announced for that
particular section.

PREPARATION PROBLEMS (Prove)

WHEN

SPECIFICS

POINT ALLOCATION

LATE OR MAKE-UPS

-All PREPARATION
problems for each of
the four sections will be
due at 5:00 PM on test
days.
-IMPORTANT: The
schedule outlines each
lesson. Reading
assignments should be
completed before
coming to class. Some
of the exercises and/or
problems will be done
in class. Whichever
assignments are not
done in class will be
due by the
beginning of the
next lesson (not to be
turned in but to be
checked)

-WHAT: Preparation consists of exercises or

problems from the book or from instructor handouts (H
problems).
-SECTION CONTENT SHEET: These sheets outline
each class period for a particular section and present assigned
reading pages and the problems /exercises that have to be
completed and turned in as homework.
-H-PROBLEMS: These are handout problems from the
instructor that are in addition to what is assigned from the
book. You are required to have copies of the H-problems for
the current section in ADVANCE of when they will
be used in class (please keep at least three lessons ahead).
You get these problems from BrainHoney accessed through the
internet (get to the LDSBC web page and select BrainHoney
where you will give your NET ID name and NET ID password).
-FORMAT: Each problem should be on a separate page
unless you use a highlighter for multiple solutions on one
page. Only solutions need to be turned in. Neatness and
orderliness will count in your homework score. Accounting
paper is not required but might prove useful in laying out your
solutions.

-Each exercise or problem will

be worth 3 points unless
otherwise noted on the
assignment sheet. The three
(3) points will be awarded for
correctness and neatness.
-Total points for four sections
will be different than 320
points. Therefore, the percent
of points you earn vs. the
total possible will be
multiplied by 320 to get your
grade point total used to
calculate your grade.

-Late preparation
problems are accepted
but only for one week
after they are due.
Except the final Section
will not be accepted late.
NO problems will be
accepted after one week.
Late problems will be
awarded a point penalty
for being turned in late.
However, because
preparation problems are
foundational to understanding and applying
the concepts of
accounting, students are
strongly urged to
complete and turn in all
preparation problems,
even if late.

CLASS PREPARATION CHECK

WHEN

SPECIFICS

POINT ALLOCATION

LATE OR MAKE-UPS

-Although preparation problems are

turned in on test day, each daily
assignment is to be completed by the
next class period. Checking on
completion of assigned problems will be
done randomly and only at the start
of class.

-DAILY ASSIGNMENTS that are due

for discussion per the Section Content sheet
will be randomly checked for preparation
completeness (even though the problems
will not be turned in until test day).
-YOU MUST be in class during the first
5 minutes in order to participate in this
check. You cannot come in late and present
your problems / exercises to be checked.

-Five (5) points are

possible when preparation
problems are checked
based on the percent of
work completed.

- Absolutely no late
class preparations will
be accepted and there is no
make-up. You must be in
class during the first five
minutes to participate in these
points.

CLASS PARTICIPATION (Teach one another)

IMPORTANCE

LEAVING CLASS EARLY

Class Time will be a work

session format where concepts

are applied to problem settings.
Your willingness to participate
in class and group activities is
essential to the success of the
class (interaction is required)
The opportunity to raise
questions and to explain to
others is invaluable to your
learning experience (Teach one
another).

Please plan to stay in class for

the full time until dismissed by the

instructor. This helps maintain a
sense of order and support as if
you are on a job.
If, for a good reason, you know
that you must leave a particular
class early, please let the instructor
know before the class begins.
Thank you in advance for your
cooperation and sensitivity to this
request by your instructor.

POINT ALLOCATION

80 points will be awarded

for your willingness to

participate and especially in
mentoring other students

ATTENDANCE
Plan to attend each class.

The classes are designed to

practice systematically
each new concept/skill and
build from prior classes.
Test content is emphasized
from class notes.
If you miss for any reason,
it is your responsibility to
arrange with other students
to get their notes for any
class that is missed.

INSTRUCTOR / CLASS EVALUATION

WHEN

SPECIFICS

POINT ALLOCATION

LATE OR MAKE-UPS

-Evaluations
normally are done
at least once during
the semester,
sometimes twice.

-INSTRUCTIONS: You will receive an e-mail from the

college letting you know when evaluations can be done.
They must be done at a computer and the link information is
available on this e-mail.
-PLEASE INCLUDE comments as they are very helpful
along with the numerical parts of the evaluation.

-Ten (10) bonus points will be

available for this assignment. A list
of participants in the evaluations is
made available to the instructor
(content is kept confidential).

- The evaluation must be

completed within the time
frame indicated. There is
no make-up opportunity.

READY REFERENCE SHEETS (Ponder)

WHEN

SPECIFICS

-A ready reference
sheet will be due with
each Sections
Homework Packet.

-WHAT: These are how to notes written in your

own words. These are individually prepared
and not done in a group setting. You will select from
topics covered in the class to date and summarize
(from your point of view)six or more points (including
important aspects about the topic and/or how to
steps in your own words). These are your own
creation.
-PURPOSE: The ready reference sheets represent
skill demonstration documents that could be saved and
included in a degree portfolio. Please save your ready
reference sheets in your computer as possible portfolio
additions to be added with other classes later.
-EXAMPLE and FORMS: An example of a
completed ready reference sheet is provided on

POINT ALLOCATION
-Each sheet will be worth 10
points. Forty (40) points will be
the maximum points possible for
ready reference sheets.

LATE OR MAKE-UPS
-Late ready reference sheets
will be accepted but only for
one week after the due
date. Maximum points per
sheet will be reduced to 8
instead of 10. The Final
Sections reference sheet will
not be accepted late.

BrainHoney. Also, the blank form is likewise

available on BrainHoney. All you need to do is
download and complete this provided form for each of
your ready reference topics.

OTHER
BUSINESS DEPT. GUIDELINES

Cell phones: Cell phones must be

turned off before entering the classroom.

No cell phones will be allowed to be used
for any reason.

BACKGROUND OF INSTRUCTOR
-Bachelors of Accounting: Utah State University
-Masters of Business Administration: University of Utah
-8 Years Revenue Agent, Internal Revenue Service

College Policies
Course Credit Hours & Classroom Preparation Time
LDSBC measures academic credit in credit hours. In accordance with federal regulation, a credit hour at
the College is the amount of work represented in intended learning outcomes and verified by evidence of
student achievement that reasonably approximates not less than:

One hour of classroom or direct faculty instruction and a minimum of two hours of out-of-class
student work each week for approximately fifteen weeks for one semester hour of credit.

An average student can expect to spend a minimum of two hours in outside preparation time for
every hour in class. For example, in a 3-credit hour class, an average student can expect six hours of
outside preparation time each week. This represents the average student who is appropriately
prepared; more time may be required to achieve excellence.

Copyright
The course materials used in this class may be protected by copyright laws. Students are expected to make a
good-faith effort to respect the rights of copyright holders. For more detailed information, please see the
LDS Business College Copyright Policy. Students who disregard the policy may be in violation of the
Church Education System Honor Code, may place themselves at risk for possible legal action, and may
incur personal liability.
Academic Policies, Title of Honor & Student Roles & Responsibilities
See LDSBC Information in Brain Honey at this link:
https://ldsbc.brainhoney.com/Frame/Component/CoursePlayer?enrollmentid=25630228

Schedule of Authentic Learning Experiences & Assessment Activities

This document is subject to change at the instructors discretion.
Any changes made to this document during the course of the semester will be reflected and finalized in Brain Honey.
Please check the Brain Honey daily/weekly pages for updates throughout the semester.
If there is a discrepancy between the Course Syllabus and the Brain Honey pages,
the BrainHoney pages will stand absolute.

Lesson
Date

Lesson

Coursespecific
Outcomes

Outcomes
13,15

Date

TOPIC/
PREPARE
Review
LDSBC
College
Learning
Model
Read, Chapter
9 Pages 418420

Lesson

Outcomes
13,14,15

Date

Read Chapter
9, Pages 420426

TEACH ONE ANOTHER

What is inventory? Different

categories of inventory: raw
materials,Work-in-process,
finished goods Components
of inventory cost: direct
materials, labor and overhead
Inventory systems: periodic
and perpetual; treatment of
cost of goods sold under both
systems; discuss shipping
terms

Lesson

3
Date

Outcomes
13,14,15

Read Chapter
9, Pages 426431

Outcomes
13,14,15

Read Chapter
9, Pages 442447, 454-457
Review
chapter 9,
Pages 447449

Lesson

4
Date
Lesson

5
Date

Outcomes
13,14,15

Lesson

6
Date

Outcomes
13,14,15

Inventory valuation methods:

specific identification; average
cost; first-in, first-out (FIFO);
last-in, first-out (LIFO)

Lower of cost or market

valuation of inventory (LCM);
Gross profit method of
inventory valuation

PONDER

What types of businesses

typically have inventory as
a significant part of their
operations?

Over the long term does it

really matter which
inventory system a
business uses?
What is the major
motivation for using the
LIFO approach to
inventory valuation?
Do FIFO or LIFO truly
represent the way
inventory comes and goes
in a business?
Does a business
enterprise ever get to
write-up inventory?

HOMEWORK/
PROVE

H1
EX9-1
EX9-2

H2
H3
H4
H5

H6
H7
EX9-12

EX9-22

Financial analysis of inventory

information

Should inventory turnover

be the same for all
businesses?

PR8-2

Read Chapter
8, Pages 362370

Valuation of accounts
receivable; allowance for bad
debts, percentage of sales,
percentage of receivables

Is selling a companys
products or services on
account a good business
practice?

Read Chapter
8, Pages 382383

Receivable management,
financing, analysis ratios

Why do companies sell

their accounts receivable?

PR8-3

Costs of acquisition; direct

costs, historical costs;
noncurrent assets; intangible
assets; self-construction

Can a business enterprise

recognize a gain by
buying an asset?

BEX10-1
BEX10-13
BEX10-15

EX9-4

Lesson

7
Date

Outcomes
14,18

TEST 1

Lesson

9
Date

Outcomes
14,18

Read Chapter
10, Pages
486-491

Lesson

10
Date

Outcomes
14,18

Read Chapter
10, Pages
486-493

Lesson

11
Date

Outcomes
13,15,18

Read Chapter
10, Pages
494-500

Lesson

12
Date

Outcomes
13,15

Lesson 13

Read Chapter
11, Pages
554-577

14
Outcomes
13,14,15,
18

Lesson

15

Outcomes
13,15,18

Date

Read Chapter
12, Pages
604-611

Outcomes
13,15,18

Date

Read Chapter
12, Page 620629

Read Chapter
13, Pages
670-674

Corporate form of business:

separate legal entity; limited
liability; widespread
ownership; board of directors;
Delaware corp., Nevada corp;
contributed capital vs.
retained earnings

Lesson

17
Date

Outcomes
13,14,
15,18

Liabilities; current vs. longterm; determinable liabilities:

accounts payable, short-term
borrowings; taxes payable;
current portion of long-term
debt; payroll liabilities;
unearned revenues; analysis
of liabilities
Estimated liabilities: property
tax payable, income taxes
payable, vacation payable,
product warranty liability
Contingent liabilities:
lawsuits, loan guarantees,
repurchase agreements

Lesson

16

Cost subsequent to
acquisition; leasing;
exchange of non-monetary
assets; donated assets;
acquiring a whole
Capitalize or expense;
repairs and maintenance;
research and development
costs; post acquisition
expenditures; depreciation,
methods, theory, residual
values, useful lives
(review)company
Accounting for intangible
assets
Amortization of intangibles;
asset retirements; trade-ins;
research and development
costs

On what basis is a basket

purchase price allocated
to the assets purchased?

BEX10-3
EX10-1
EX10-2

What is a typical cost

incurred by businesses
subsequent to purchase?
What types of research
and development costs
can be capitalized?
Who decides what
residual values to use in a
depreciation computation?

BEX10-4
EX10-9
PR10-2
EX10-3
EX10-6
EX10-22
EX10-15

What is an intangible
asset?
Over what period of time
is a patent amortized?
Who decides the period?

BEX11-1
BEX11-13
EX11-1
ED11-9
EX11-13
PR11-2

TEST 2

Lesson

Date

Basket purchases

Read Chapter
13, Pages
674-688

Stock issuance: common

stock, voting rights, par or
stated value; preferred stock,
cumulative, convertible,
dividend, liquidation
preferences; stock issued for
cash
Stock sold on subscription;
stock issued for consideration
other than cash; stock
repurchases, retirement,
treasury shares

When does a business

enterprise record a
liability?

In making estimates of
current liabilities, what
information is most
helpful?
What is a contingent
liability contingent upon?

What has been the

number one reason to
incorporate a business?

What governing body

oversees the formation of
corporations?
How much gain can a
company recognize from
issuing its stock for cash
or other consideration?

H1
BEX12-4

H2
H3
H4
BEX12-11
EX12-6
H5
H6
PR12-5A

H7

H8
H9
Q13-3
BEX13-5
PR13-7
BEX13-7
EX13-2
EX13-3
EX13-6

Lesson

18

Outcomes
15,18

Date
Lesson 19

Read Chapter
13, Pages
688-696

20

Outcomes
13,14,15,
16,17

Read Chapter
16, Pages
840-846;
Hand-out #1

Lesson

21
Date

Outcomes
13,14,15
16,17

Read Chapter
16, Pages
840-846

Lesson

22
Date

Outcomes
13,14,15
16,17

Read Chapter
16, Pages
840-846

Outcomes
13,14,15,
16,17

Handout #2

Outcomes
13,14,15,
16,17

Read Chapter
16, Pages
840-846
Handout #3

Payroll importance; who

paid to; employees,
independent contractors;
How much? ; how often?
payroll periods; pay date vs.
pay period; FLSA governing
standard
Computing gross payroll;
salaried employees; hourly
wage rates;
Piecework or project basis;
overtime requirement /
premiums; exempt employees

Deductions from gross payroll

employees; withholdings
vs. taxes; state and federal
taxes; FICA social security
and Medicare, Federal and
State Income tax, other
voluntary deductions;
Computing net pay; W 4s

Date

Lesson

24
Date

Lesson 25

TEST 4

Is a part-time worker
always considered an
independent contractor?
Can a business avoid
paying overtime by paying
employees on a project
basis?

How much unemployment

tax do employees pay in
the state of Utah?

Employer payroll tax filings;

Federal and State quarterly
filings; annual filings

Why do many companies

try to treat their
employees as
independent contractors
rather than employees?
Does a company expense
the withholdings taken
from your paycheck?
How often do businesses
have to remit the
withholdings they take
from employees
paychecks?

Compensated absences;
vacation, sick pay, seminars,
travel
Employee benefit deductions;
401K plans; cafeteria plans;
before tax vs. after tax

Why is a business willing

to pay an employee not to
come to work?
Is it always better to have
a benefit come out of a
paycheck before taxes?

Payroll taxes employers;

FICA matching portion;
unemployment taxes federal
and state; workmens
compensation
Journalizing payroll;
individuals, payroll summaries

Lesson

23

What usually prompts a

company to do a stock
split?

Ex13-13AB
PR13-1
PR13-11

TEST 3

Lesson

Date

Stock rights, warrants,

options; cash dividends, stock
dividends, small and large;
stock splits; financial
statement disclosures

H1
H2
H3
H4

H5
H6
H7
H8
H9
H10

H11
H12
BEX16-1
BEX16-2
BEX16-3

EX16-3
H13

PR16-2