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North South University School of Business ACT 330: Intermediate Accounting Spring 2012
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Instructor: Showvonick Datta Office: NAC 710 Email: Showvonick@gmail.com COURSE DESCRIPTION: The goal of the Intermediate accounting course is to orient students to the application of accounting principles and techniques in practice. Once finish this course, students are expected to understand GAAP / IFRS, conceptual framework, and how they are used to prepare financial statements, and interpret the numbers. COURSE OBJECTIVES: At the completion of this course, the student is expected to: 1. Understand and apply the basic principles of financial reporting 2. Understand the importance of financial statements 3. Understand the role of financial statement and financial reporting. 4. Prepare financial statements by following the GAAP (IAS may cover) standards. 5. In-depth accounting techniques for inventories, tangible assets, and stock holders equity, retained earnings, and statement of cash flows. REQUIRED TEXT:

Intermediate Accounting, 13th Edition by Dionald Kieso, Jerry Weygandt, and Terry Warfield
REFERENCE TEXTS: 1. Accounting Principles, (9th or 10th Edition), by Jerry Weygandt, et.el. 2. Intermediate Accounting, (17th Edition), James Stice, Earl Kay Stice, and Fred Skousen 3. Introduction to Financial Accounting, 9th edition by Charles T. Horngren, et.el. EXAMS: There will be two midterms and one final. The midterm and the final exams may consist of MCQ, Short questions, and numerical problems. There will be an assignment, which will cover the practical application of financial accounting. In addition there will be number of unannounced quizzes. Missing any of the exams (except for quizzes) without prior notification will result in an automatic F for the course. There will be no

Course Outline (ACT 330) Page 1

make-up for any quiz (in case if any, then it will be marked on 80%). EVALUATION: Mid Term 1 Mid Term 2 20% Final 25% Assignment & Home work Quiz 15% Class Attendance & Participation Total 20% 15% 05% 100%

Grading Policy: The grades will follows: 93+ = A 90 - 92 = 87 - 89 = AB+ 77 79 = 73 76 70 73 = C+ =C C-

be awarded as per NSU grading policy as 83 - 86 = B 67 69 = D+ 80 82 = Less Bthan 60 66 = 60 = F D

PREPARING FOR EXAMS: Class participation is strongly encouraged, as it would help you comprehend the course material better. The main reading material of this unit would be the text books, and relevant SFAC. For a complete understanding students are expected to visit publishers websites, and read up-to-date materials from the website http://bcs.wiley.com/he-bcs/Books? action=chapter&bcsId=4881&itemId=0470374942&chapterId=47788 . ADDITIONAL POLICIES: 1. All the exams must be taken when scheduled. If you have an emergency that causes you to miss an exam, you must notify me in advance personally or by email. 2. Make up exams may be allowed only if due causes can be demonstrated. All make-up exams will generally be harder. 3. Anyone found committing cheating would receive F for the course. 4. Finally, every class is equally important for the final grades, so please be prepared for every test from the beginning of the semester. 5. Class attendance is extremely important both for class participation, as well as for pop up quizzes. LIST OF CHAPTERS TO BE COVERED Mid-term I will cover the following chapters: Chapter 1: Accounting Standard and Financial Reporting Chapter 2: Concepts Underlying Financial Accounting Chapter 3: Understanding the accounting Information System Chapter 4: Examining the Income Statement Chapter 5: Examining the Balance Sheet and Statement of Cash Flow Mid-term II will cover the following chapters:
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Chapter Chapter Chapter Chapter

13: 14: 15: 16:

Current Liabilities and Contingencies Long term liabilities Stockholders equity. EPS Reporting.

Final will cover the following chapters: Chapter 18: Revenue Recognition Chapter 21: Accounting for leases Chapter 23: Statement of cash flows
The instructor reserves the right to change any part of this course outline during the semester.

Course Outline (ACT 330) Page 3