INTERMEDIATE FINANCIAL ACCOUNTING II

ACG 3113 - FALL 2014

Florida Gulf Coast University, Lutgert College of Business

COURSE INFORMATION

Professor Arianna S. Pinello, PhD, CPA, CIA

      Assistant Professor
Lutgert College of Business, Accounting Department
Florida Gulf Coast University
Office Lutgert Hall 2304
E-mail apinello@fgcu.edu (best way to reach me)
Office Hours T/R 10-11am and 12:30-2pm
Class CRN 81087 – T/R 11-12:15pm in LH 2201
CRN 81828 – T/R 2-3:15pm in LH 2201
Credit Hours 3
Course Website Canvas

COURSE OBJECTIVES

ACG 3113 is the second course in a three part series (ACG 3103, ACG 3113, and ACG 4123) of
intermediate financial accounting courses. The objective in this specific course is to provide you
with more in-depth knowledge of Generally Accepted Accounting Principles (GAAP), including
the advanced study of long-term assets, current and long-term liabilities, and equities. This
course is an integral part of the sequence of core classes that you are taking in the accounting
program (intermediate accounting, cost, auditing, business law and tax) which serve to prepare
you for the Accounting Comprehensive Exam (ACE).

COURSE RESOURCES

Required Course Materials

 Textbook: Intermediate Accounting by Kieso, Weygandt, and Warfield, 14th Edition,
published by John Wiley & Sons, Inc. ISBN: 978-1118088296.

Optional Course Materials

 Intermediate Accounting Problem Solving Survival Guide (Volume 1) by Marilyn F.
Hunt to accompany Kieso, Weygandt, and Warfield, 14th Edition, published by John
Wiley & Sons, Inc. ISBN: 978-1118014479.
 Financial Accounting Exam Questions and Explanations, 17th edition, published by
Gleim Publications. ISBN: 978-1581941760.

Course Website
Certain course materials (such as class notes, handouts, homework solutions, and/or
supplemental materials) will be made available on the course website on Canvas.

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 1 of 7

 COURSE RESOURCES, CONTINUED

Source of Authoritative GAAP

To simplify the task of researching an accounting topic, the FASB launched its FASB Accounting
Standards Codification project which integrates and topically organizes all relevant accounting
pronouncements comprising GAAP in a searchable online database. The codification became
effective on July 1, 2009. It represents the single source of authoritative nongovernmental U.S.
GAAP, except for rules and interpretive releases of the SEC which remain as sources of
authoritative GAAP. All other literature is nonauthoritative. To access the online codification
database, go to: http://aaahq.org/ascLogin.cfm. To log in, you will need a user name and
password which you can obtain from your professor.

COURSE PREREQUISITES

You must complete ACG 3103 with a minimum grade of B before taking this course.

COURSE POLICIES

Canvas: A number of student resources, including class notes, handouts, homework solutions,
and/or supplemental materials, will be made available on Canvas. Class notes are provided to help
you organize the material, which will be expanded upon in class. It is expected that you will print
class notes in advance and bring them to class to facilitate note-taking. Class notes are not
comprehensive and should not be viewed as a substitute for reading the text or attending class.
Homework solutions are provided so you can check your work. It is critical that you first attempt to
solve the problems on your own. Email to you from the professor will be sent through Canvas. It
is your responsibility to check Canvas daily for important announcements.

Suggested Homework: Homework will be assigned in class during the semester. Suggested
homework assignments are for your benefit and will not be collected. Homework assignments
are designed to provide you with an opportunity to apply and practice the concepts learned in
class. Failure to complete the assignments on a timely basis will severely limit your
comprehension of the material and your overall performance in the course. The material is
complex and cannot be learned one or two days before an exam.

Attendance, class preparation, and class participation: To ensure successful completion of

this course, class attendance and participation are imperative. You must attend class and should
be prepared to participate in class discussions. Attendance is a component of your course grade.
To earn the full attendance points, you must miss no more than three class periods. If four
or more class periods are missed then NO attendance points will be earned. Evidence of
attendance will be documented by collecting valid student signatures on sign-in sheets. To be a
valid signature, it must be written by the student’s own hand, and the student must stay for the
entire class. All requests for excused absences must be in writing with supporting
documentation. The request should include: date of absence, reason for absence, date of
submission, signature. Decision to excuse absences will rest with your professor.

COURSE POLICIES CONTINUED

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 2 of 7

Examinations: There will be a total of four exams. These exams are designed to test your
knowledge of the material covered, as well as your ability to analyze complex situations and
present well-structured solutions while working under some time pressure. You must bring
scantron forms to each exam. All exams are closed book/closed notes and include objective
questions (true/false, matching, fill-in-the-blank, etc.), short essays, and integrative problems.
Both concepts and procedures are tested based on assigned textbook chapters, class discussions,
homework assignments, and any other additional material assigned. Any and all of the material
in the assigned chapters is eligible for exam inclusion regardless of its coverage in class.
All exams are mandatory and will only be given at the scheduled times. If you miss an exam
for an unexcused reason, you will receive ZERO points for the missed exam. If you have an
emergency on exam day, you must do the following: notify your professor prior to the exam.
If you miss a midterm exam for an excused reason (as deemed by your professor – this is very
rare and requires notification prior to the exam as well as proper documentation), your final
exam percentage grade will be used to determine the number of points you will receive for your
missed midterm exam. Sufficient supporting documentation must be provided to verify the
conditions causing an excused exam absence. If you take all three midterm exams and your
final exam percentage score is higher than one of your midterm exam percentage scores,
your final exam percentage score will be used in place of your lowest midterm exam
percentage score.
You may not discuss an exam with other students who have not yet taken it. All exams are
retained by your professor. After reviewing your exam in the classroom, be sure to return your
exam with all pages before leaving class. Graded exams can be seen again during office hours.
Performance Evaluation: Your grade for the course will be determined as follows:
Points Percentage
Midterm Exam 1 220 22%
Midterm Exam 2 220 22%
Midterm Exam 3 220 22%
Cumulative Final Exam 300 30%
Attendance (for 3 or fewer absences) 40 4%
TOTAL 1000 100%

Grading Scale: The following will be the cutoff points for each grade:

Cutoff Points=Grade Cutoff Points=Grade

900 – 1000 = A 700 – 749 = C
850 – 899 = B+ 650 – 699 = D+
800 – 849 = B 600 – 649 = D
750 – 799 = C+ < 600 =F
In assigning letter grades there will be no conversion of points into percentages. To obtain a
certain letter grade, you need to obtain the required points. For example, to get an A you need to
obtain at least 900 total points; if you have total points of 899, your grade will be B+. For
purposes of final points, a fractional point rounds up to a whole point. You must earn at least a
“C” to take the next required course.
TENTATIVE COURSE OUTLINE

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 3 of 7

This course outline provides a general plan for the class and is subject to change. It is the
responsibility of each student to attend class and check Canvas regularly to receive
announcements regarding any changes made to the course outline. Homework for each chapter
will be assigned in class.

Dates Material
8/19, 8/21 Introduction
Ch 7 – Cash & Receivables
8/26, 8/28 Ch 8 – Inventories
9/2, 9/4 Ch 9 – Additional Valuation of Inventories
9/9, 9/11 Finish open items
9/16, 9/18 EXAM 1:
TUESDAY, SEPTEMBER 16TH: WRITTEN PORTION OF EXAM
THURSDAY, SEPTEMBER 18TH: OBJECTIVE PORTION OF EXAM
9/23, 9/25 Ch 10 – Fixed Assets
9/30, 10/2 Ch 11 – Depreciation & Impairments
10/7, 10/9 Ch 12 – Goodwill, R&D, and Other Intangibles
10/14, 10/16 Finish open items
10/21, 10/23 EXAM 2:
TUESDAY, OCTOBER 21st: WRITTEN PORTION OF EXAM
THURSDAY, OCTOBER 23rd: OBJECTIVE PORTION OF EXAM
10/28, 10/30 Ch 13 – Current Liabilities
LAST DAY TO WITHDRAW WITHOUT ACADEMIC PENALTY IS FRIDAY,
OCTOBER 31st
11/4, 11/6 Ch 14 – Long-Term Liabilities
11/13 Ch 15 – Stockholders’ Equity
NO CLASS ON NOVEMBER 11th (VETERANS’ DAY)
11/18, 11/20 Finish open items
11/25 Finish open items
NO CLASS ON NOVEMBER 27th (THANKSGIVING)
12/2, 12/4 EXAM 3:
TUESDAY, DECEMBER 2nd: WRITTEN PORTION OF EXAM
THURSDAY, DECEMBER 4TH: OBJECTIVE PORTION OF EXAM
FINAL EXAM during final exam week (12/6-12/12) as scheduled by university

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 4 of 7

 DEPARTMENTAL POLICIES AND RESOURCES

1. CALCULATOR. Texas Instruments BA II PLUS.

NOTE: The required calculator is the only electronic device allowed to be used during class. UNLESS
PERMITTED BY THE INSTRUCTOR, THE USE OF ALL OTHER ELECTRONIC DEVICES (phones,
pads, laptop computers. etc.) is PROHIBITED DURING CLASS.

2. The schedules for the departmental courses offered (information on semester, day/night, other) are at:
ACG, TAX, and BUL (BS) - http://www.fgcu.edu/cob/acg/acg_annual.pdf
FIN (including ECO 3101) and REE (BS) - http://www.fgcu.edu/cob/fin/fin_annual.pdf
ACG, TAX, and BUL (MS) - http://www.fgcu.edu/cob/msacg/grad_acg_annual.pdf

3. Planning for pre-registration and graduation is your responsibility: The above schedules and LCOB
advisors, along with the course prerequisite sequences described in the FGCU Catalog and degree program
sheets, should assist you in ensuring that your plans are successfully implemented. Course substitutions and
prerequisite exceptions will be granted only for exceptional circumstances that are clearly beyond the student's
control. Poor or lack of planning is not one of those circumstances.

4. Useful FGCU Resources:

Florida Gulf Coast University Catalog (http://www.fgcu.edu/catalog/)
Florida Gulf Coast University Student Guide Book (http://studentservices.fgcu.edu/JudicialAffairs/)
Florida Gulf Coast University Code of Conduct (http://studentservices.fgcu.edu/JudicialAffairs/)

DEPARTMENTAL STATEMENTS

1. This is the second intermediate level financial accounting course designed to give accounting majors an in-
depth knowledge of Generally Accepted Accounting Principles (GAAP) to be continued in ACG 4123. It also
supports the content covered in the ETS exam used to assess the BS degree program for the college of
business.

2. Accounting Comprehensive Exam (ACE) in ACG 4632 and ETS Exam in GEB 4890:

The sequence of core classes that you are taking in the accounting program (intermediate accounting, cost,
auditing, business law and tax) serves to prepare you for the Accounting Comprehensive Exam (ACE). All
accounting majors are required to take the ACE exam at the end of ACG 4632 in order to earn a grade in that
course. The ACE exam helps the Accounting Department assess whether students are meeting the learning
goals established for the BS degree in accounting.

The knowledge you are gaining in the business foundation and core courses in principles of accounting,
computers, economics, finance, information systems, law, management, marketing, and operations serves to
prepare you for the Educational Testing Service (ETS) exam. All business majors are required to take the ETS
exam at the end of GEB 4890 in order to graduate with a BS degree.

While your performance on ACE and ETS exams will not impact your grade in ACG 4632 or in GEB 4890,
please take these exams very seriously. They are the main tools used to assess the BS degree program in
accounting. It is imperative that you do your best in answering the questions. Otherwise, the results will not be
reliable and the assessment will not be robust, a result that may jeopardize our SACS accreditation and the
Academic Learning Compact we made with the State of Florida, along with having a negative impact on
our AACSB accreditation (more about AACSB at: http://www.fgcu.edu/cob/ and click on the AACSB logo at
the top left).

DEPARTMENTAL STATEMENTS, CONTINUED

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 5 of 7

Those students performing above the 80% level in each of the eight sections of the ACE exam and those
performing above 80% on the ETS exam will receive a letter of commendation from the Chair and/or Dean
recognizing these achievement(s) which can be used as a resume item.

3. Learning Outcome Assessment Methodology

Learning Objective Assessment Strategy

PLO1: Analyze accounting problems and formulate solutions. Exams
CLO1: Interpret the relevance of information. Exams
CLO2: Communicate reliable information. Exams
KLO1: Apply accounting theory/standards to accounting practice areas. Exams
KLO2: Have knowledge of all business areas of study. Exams

When assessing the LOs above, if 90% of the students answer 80% of the question(s) correctly the assessment
is exemplary; if 80% of the students answer 80% of the question(s) correctly the assessment exceeds
expectations; if 70% of the student answer 80% of the question(s) correctly the assessment meets expectations;
if less than 70% of the students answer 80% of the question(s) correctly, the assessment is below expectations;
and if less than less than 60% of the students answer 80% of the question(s) correctly, the assessment fails.

UNIVERSITY STATEMENTS

1. Academic Dishonesty/Cheating Policy:

All students are expected to demonstrate honesty in their academic pursuits. The university policies regarding
issues of honesty can be found under the "Student Code of Conduct" on page 11, and under "Policies and
Procedures" on pages 18 - 24. of the Student Guidebook . All students are expected to study this document
which outlines their responsibilities and consequences for violations of the policy.

2. Disability Accommodations Services:

Florida Gulf Coast University, in accordance with the Americans with Disabilities Act and the university’s
guiding principles, will provide classroom and academic accommodations to students with documented
disabilities. If you need to request an accommodation in this class due to a disability, or you suspect that your
academic performance is affected by a disability, please see me or contact the Office of Adaptive Services. The
Office of Adaptive Services is located in Howard Hall 137. The phone number is 590-7956 or TTY 590-7930

3. Student Observance of Religious Holidays

All students at Florida Gulf Coast University have a right to expect that the University will reasonably
accommodate their religious observances, practices, and beliefs. Students, upon prior notification to their
instructors, shall be excused from class or other scheduled academic activity to observe a religious holy day of
their faith. Students shall be permitted a reasonable amount of time to make up the material or activities
covered in their absence. Students shall not be penalized due to absence from class or other scheduled
academic activity because of religious observances. Where practicable, major examinations, major
assignments, and University ceremonies will not be scheduled on a major religious holy day. A student who is
to be excused from class for a religious observance is not required to provide a second party certification of the
reason for the absence. See: http://www.fgcu.edu/generalcounsel/policies-view.asp

4. Center for Academic Achievement

The Center for Academic Achievement (CAA) provides academic support services to all FGCU students.
Students can take advantage of our free peer tutoring and Supplemental Instruction sessions for lower-level
math and science courses, as well as workshops to facilitate the development of skills necessary for college

UNIVERSITY STATEMENTS, CONTINUED

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 6 of 7

success. If you would like to participate in any of our programs, learn about tutoring services, or meet with an
Academic Retention Coordinator, please visit the CAA in Library 103 or call us at (239) 590-7906. Our
website is www.fgcu.edu/caa.
 
LCOB VISION, MISSION, AND GUIDING PRINCIPLES

Vision: The Lutgert College of Business will be nationally renowned in providing students with the education
and capabilities to take leading roles in a diverse and global environment.

Mission: The Lutgert College of Business educates students from Southwest Florida and beyond to address
local and global business challenges. We are dedicated to student learning, scholarship, service, and
community relationships that foster entrepreneurship and economic growth.

Core Values/Guiding Principles:

Innovative/Knowledge: Provide an academic environment emphasizing teaching and scholarship that
enhances student learning and the reputation of the college.
Accountable/Integrity: Maintain the highest standards of ethics, honesty, mutual respect, and accountability
for our college's faculty, staff and students.
Connected/ Service to the Community: Address current regional issues through extensive outreach activities
and by building relationships on a local, regional, and global basis to facilitate the economic vitality and
growth of Southwest Florida.
Sustainability: Educate and develop future business professionals to recognize the value of and need for
sustainability, which encompasses economic, environmental, and social responsibility.
Global perspective: Emphasize the ability to perform effectively across cultures in addressing global business
challenges building on the "second circle*" model.
Diversity: Foster a climate that enhances awareness of and respect for diversity of people and ideas, actively
encouraging it among our students, faculty, and staff.

*The second circle model was created by Dr. Richard Pegnetter as a process that expands the traditional college/university to
international university partnership model to include the regional business community of Southwest Florida with the regional
business community of our international partner thus expanding the interaction to a "second circle".

ACCOUNTING DEPARTMENT BS PROGRAM VISION AND MISSION

Vision: Be the destination of choice for students who aim to establish mastery of subject matter and/or
successful careers based on an accounting education.

Mission: Prepare students for entry level careers in public accounting, service organizations, government, and
industry and/or post-baccalaureate education by ensuring that:
1. graduates are technically competent and possess the full range of business and professional skills;
and
2. faculty members employ cutting edge instructional methods and technologies, anchored by a
balanced mix of applied/educational/basic research outcomes and
institutional/professional/academic/community service.

ACG 3113, Dr. Arianna Pinello, Fall 2014 Page 7 of 7