EAST WEST UNIVERSITY

Department of Business Administration

Semester: Spring-2011
Course

ACT 411 Intermediate Accounting I

Class Time

Section (1), MW, 10.10AM -11:40 AM, Room # Academic-303

Section (2), MW, 1.30PM -3.00 PM, Room # Admin-702

Course Instructor

Dr. Monirul Alam Hossain (MAH), Room # DDC 701

Ph # 9882308, 9887989, Ext 267
E-mail: monirulhossain@ewubd.edu

Office Hours:
Day
Sunday
Monday
Tuesday
Wednesday

Time
10.00AM-1.00PM
11.45AM-1.25PM & 3.30PM- 6PM
10.00AM-1.00PM
11.45AM-1.25PM & 3.30PM- 6PM

Course Objective:
The course aims to provide the students with an in depth understanding of financial
reporting analysis. This course will help the students to apprise theoretical and regulatory
national frameworks as well as to prepare reports and financial statements of the
companies. This course intends to provide a strong foundation for advanced courses in
financial accounting with ability to apply these for the preparation of financial and related
information to meet internal and external obligation.
Course Description:
Financial Accounting and Accounting Standards; Accounting Information System;
Income Statement and related information; Balance Sheet and Statement of Cash Flow;
Accounting and Time Value of Money; Cash and Accounting for Receivables; Valuation
of Inventories; Acquisition and Deposition of Property, Plant and Equipment;
Depreciation, Impairment and Depletion.
Text Book:
This course prescribes one Text Book as core reading which adequately covers the course
contents as follows:
1. Intermediate Accounting, Donald E. Kieso, Jerry J. Weygandt, & Terry D. Warfield,
11th Edition, John Wiley & Sons Inc.
Further Reference:
1. Intermediate Accounting: T. R Dyckman, R. E. Dukes, C, T. Davis and Glen A.
Welsch, 6th Edition; 1992
The students are advised to consult book recommended for additional for additional
reading for expanding the horizon of the knowledge about the course.
Page 1 of 5

Teaching Method
The completion of this course shall require a period of thirteen weeks, which shall include
24 lectures. The duration of class will be of 90 minutes. Class lectures will have active
student participation and will be informant with a hand on approach in order to make
classes interesting and meaningful. Real life examples will be considered whenever
applicable. Special tutoring is available for needy students. Students will be organized
and encouraged to.
Attendance
Students expected to attend all classes and to read assigned textual material. A student not
prepared to attend all classes should not enroll in this course. A student missing three
consecutive classes without valid reason may be dropped out from the course.
Caution
The first five chapters are key to building a sound concept of the course. If a student fails
to attend all classes when these chapters are being covered, they may be dropped out from
the course.
Make up of Quizzes and Term Examination
No make up is allowed for missed quizzes. Make up for missed Term Examination (s)
may be given if there is valid reason for not taking the examinations. However, students
should keep in mind that makeup examinations would always be harder.
Grading Policy and Marks Distribution:
Midterm Examination 1
Midterm Examination 2
Final Examination
Quizzes & Assignments
Attendance & Participation

20%
30%
30%
10%
10%

Total

100%

Grading Scale:
Guideline for converting numerical scores to letter grades:
A+
A
AB+
B
BC+
C
CD+
D

97% 100%
90% below 97%
87% below 90%
83% below 87%
80% below 83%
77% below 80%
73% below 77%
70% below 73%
67% below 70%
63% below 67%
60% below 63%

Page 2 of 5

below 60%

OUTLINE FOR ACT411 COURSE (See 1 & 2): Spring 2011

WEEK
Week-1

CHAPTER(S)
Chapter-1 & 2, Financial Accounting & Accounting Std.
Conceptual Framework Underlying Accounting

Week-2

Chapter-3, The Accounting Information System

Week-3

Chapter-4, Income Statement and Related Information

MID TERM-1 EXAM

Week-4

Chapter-5, Balance Sheet & Statement of Cash Flows

Week-5

Chapter-6, Accounting and the Time Value of Money

Week-6

Chapter-7, Cash and Receivables

Week-7

Chapter-8, Valuation of Inventories (Cost Basis)

MID TERM-2 EXAM

Week-8

Chapter-9, Inventories (Additional Valuation Issue)

Week-9

Chapter-10, Acquisition & Disposition of Property

Week-10

Chapter-10, Acquisition & Disposition of Property

Week-11

Chapter-11, Depreciation, Impairments and Depletion

Week-12

Chapter-12, Intangible Assets

Week-13

Chapter-12, Intangible Assets

FINAL EXAM

Page 3 of 5

East West University (BBA)

ACT-411 (See- 1 & 2)
Chapter Outline

Class Work

Chapter 1: Financial Accounting and Accounting Standards

Home Work
List of IASs &
IFRSs

Text: pp. 2 17
Definition of Financial Accounting, Financial StatementsAccounting Standards-Statement of financial Accounting Standards
(SFAS) act by FASB (USA)- International Accounting Standards
(IAS) & International Financial Reporting Standards (IFRSs) set by
IASC (IASB)
Chapter 2: Conceptual Framework Underlying Accounting

E2-1 to 1:2-5
pp. 51-53

Text: pp. 28 47

Assignment on
the Chapter

Definition of Conceptual framework (CF)-Need for CF-Development

of CF-Objectives of Financial reporting-Qualitative Characteristics of
Accounting Information Elements of Financial Statement
Assumptions:
i. Economic Entry; ii. Going Concern; iii. Monetary Unit; iv.
Periodicity; Principles: i. Historical Cost, Concept; ii. Revenue
Recognition; iii. Matching; iv. Full Disclosure; Constraints: i. Cost
Benefit; ii. Materiality; iii. Industry practice; iv. Conservation.
Chapter 3: Accounting Information System (AIS)
Text: pp. 62 92

P3-5
pp. 114

E3-14 to F3 19
pp. 108 109
P3-2, P3-4,
P3-7, P3-8
pp. 112-116

Accounting Cycle- i. Identification and measurement of transaction;

ii. Normalization; iii. Posting; iv. Trial Balance; v. Adjustments; vi.
Adjusted Trial Balance; vii. Preparation of Financial Statements; viii.
Closing Entries; ix. Post closing Trail Balance, Preparation of Work
sheet.
Chapter 4: Income Statement
pp. 124 149
Definition of Income Statement- Usefulness and Limitations of
Income Statement- Single step and Multiple step Income StatementIrregular Items- 1. Discontinuing Operation; 2. Extra-ordinary Items;
3. Cumulative effects of changes in Accounting PrinciplesPreparation of Retained Earnings Statement and Statement of
Stockholders Eduity

E4-16 pp 156
P4-1 pp. 156

E4-5 to E4-8,
E4-13
pp. 153-155
P4-3, P4-4,
P4-7
pp. 157-159

Page 4 of 5

East West University (BBA)

ACT-411 (See- 1&2)
Chapter Outline

Class Work

Chapter 5: Balance Sheet and Statement of Cash Flows.

E5-6, E5-12
P5-2 (239240)

Text: pp. 169 - 199

Balance Sheet Usefulness and Limitation- Classification in the
Balance Sheet Preparation of Balance Sheet. Statement of Cash
Flows (SCF)- Purpose of SCF- Preparation of SCF
Ratio Analysis. Appendix 5A p. 200-201

Chapter 6: Accounting and Time Value of Money

E5-17
p. 238

E6-8, p6-1

Text: pp. 252 282

Time Value of Money- Present Value Accounting MeasurementInterest Tables- (pp. 302-311)- Fundamental Concepts (p. 283)
Chapter 7: Cash & Receivables

P7-2 (p. 354)

p. 7-13 (p.
Text: pp. 314 340
355)
Cash- Definition of cash and classification of Cash, Cash equivalents
and non-cash items.
Receivables: Trade receivables and non-trade receivables- Methods
recording uncollectible- Direct write off and allowance methodPercentage of sales approach and percentage of receivables approachReporting and analysis of receivables.
Cash Control: Appendix 7A, pp. 340-345

Home Work

E5-16, E5-18,
P5-6, P5-7
(pp. 242-246)
E6-5, E6-6
E6-10, E6-11
and p. 6-2

E7-7 to E7-11
pp. 349-350
P7-14
(p. 359-360)
, E6-6
E6-10, E6-11
and p. 6-2

E7-24 p. 353

E7-25 p. 354

Using Bank Account- Imprest Petty Cash System- Physical protection

of cash- Reconciliation of Bank Balances- Reconciling Items.

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