MGMT 35000

Intermediate Accounting I
Troy Janes - ONLINE - Summer 2018

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About the Course
This course will be conducted entirely online during a six-week period.  Each week, new material will be made available and related assignments will be due on a regular basis throughout the course. Course participants will not be permitted to work ahead or fall behind.
 
The textbook will form the foundation for the course.  Videos and other materials that explain and augment the content in the textbook will be posted on the course website.  Homework problems and questions, along with a research project, will be assigned to help you practice the concepts and skills covered in the course materials.  Homework assignments will be completed in WileyPlus, an online homework management system.  Exams will be taken online and will utilize an online proctoring service (which, unfortunately, involves a fee). Each of these items is explained in more detail below.
 
Course Goals/Learning Objectives
Intermediate Accounting I is the first course in the financial accounting sequence.  Together with Intermediate Accounting II, this course provides the core of financial reporting knowledge that you will use throughout your academic and professional accounting careers.  Topics covered include:
 
  • Conceptual framework of accounting standards
  • The accounting cycle
  • Standard financial statements
  • Revenue recognition
  • Asset valuation
 
Although the Uniform CPA Examination is the not the focus of this course, you may expect all of the subjects covered in this course to appear on the CPA Exam.

 

Sample Assignment
Beyonce Corporation factors $175,000 of accounts recievable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the recievables. The receivables records are transferred to KAthleen Battle Financing on August 15,2017. Kathleen Battle Financing assess a finance charge of 2% of the amount of accounts recievable and als oreserves an amount equal to 4% of account recievable to cover probable adjustments.
 
a) What ocnditions must be met for a transfer of recievabes with recourse to be accounted for as a sale?
 
b) Assume the conditions from part (a) are met. Prepare the journal entry on August 15, 2017, for Beyonce to record the sale of recievables, assuming the recourse obligation has a fair value of $2,000. 

MGMT 35000

Course Catalog
MGMT 35000 Intermediate Accounting I

Description
Credit Hours: 3.00. Financial reporting for interested external parties. Emphasis on asset valuation, income measurement, and preparation of financial statements, and on appreciation of discretion available to preparers. Typically offered Fall Spring.
3.000 Credit hours
Levels:  Graduate, Professional, Undergraduate
Schedule Types:  Distance Learning, Lecture
Offered By:  School of Management
Department:  School of Business Admin
Course Attributes
Upper Division
May be offered at any of the following campuses:  West Lafayette
Prerequisites
(Undergraduate level MGMT 20100 Minimum Grade of C- or Undergraduate level BUS A2020 Minimum Grade of C- or Undergraduate level GBA 23000 Minimum Grade of C-) or Undergraduate level ACC 20100 Minimum Grade of C-
Other Information
Restrictions:  Must be enrolled in one of the following Majors: Accounting Advanced Accountancy Economics Honors Economics Finance General Management IM/Analytical Consulting IM/Computer Science IM/Economics IM/Economics Honors IM/Engineering IM/Financial Engineering IM/Interdisciplinary IM/Mgmt Info Systems IM/Manufacturing Mgmt IM/Manufac & Svc Operations IM/Operations Management IM/Quantitative Methods IM/Science IM/Sci, Tech, Engr & Math Management Marketing IM/Oper & Supply Chain Mgmt Supply Chain Info & Analytics Strategy & Organiz Mgmt