University

of California, Berkeley
Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015
Instructor: Tiffany Rasmussen
E-mail:
tiffanyrasmussen@berkeley.edu
Office:
F502
Office Hours: Tuesday and Thursday 2:30 to 4:00 PM and as requested.
Web:
bCourses

Class Times: Tuesday and Thursday 11:00 AM to 12:30 PM
Classroom: C210 CHEIT

Graduate Student Instructor: Malachy English
E-mail:
malachy_english@haas.berkeley.edu

Discussion Section Times and Locations: Friday 10 AM to 12 PM, 238 KROEBER or
Friday 1 to 3 PM, C335 CHEIT

Course Overview and Objectives:

This Course introduces the student to concepts, theory and applications of financial
accounting. The topics covered include accrual accounting concepts, financial
statement analysis, revenue recognition, accounts receivable and their related
estimates, inventory valuations, capital assets and their corresponding depreciation
and impairment and the time value of money. Attention is given to examples on
current reporting practices and to the study of reporting requirements promulgated
by the Financial Accounting Standards Board (FASB) with comparison to the
International Accounting Standards Board (IASB).

This course is well-suited for those preparing to become practicing accountants in
either the public or private sectors. The financial accounting sequence at Haas covers
most of the topics included in the several professional qualifying examinations for
those in accounting and finance: Certified Public Accountant (CPA), Certified
Management Accountant (CMA), and Chartered Financial Analyst (CFA). In addition
to prospective practicing accountants, this course provides valuable background for
those looking forward to various managerial or financial careers. Financial
accounting, beyond the level of the introductory course, is essential for those hoping
to work as consultants, security analysts and company financial managers.

Being Professor Rasmussen worked in public accounting for 27 years, she will bring
real world experience to the sessions and welcomes your questions about applying
this accounting in the business world and about a career in the public accounting
profession.

University of California, Berkeley

Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015

Course Materials:
Textbook: Intermediate Accounting, Spiceland, Sepe, Nelson, and Tomassini, 7th
Edition, 2013, McGraw Hill-Irwin ISBN: 007802532x

If you chose to purchase an earlier edition, you will be responsible for double
checking that you complete the appropriate reading and on your own exercises by
comparing your text to the 7th Edition (in the Library or of a classmate). I will
supplement newer accounting content with extra handouts.

Recommended Prerequisites:
Successful completion of Introduction to Financial Accounting (UGBA 102A) or its
equivalent.

Structure of the Course:
This class meets three times a week on Tuesday, Thursday and Friday. The regular
classes, on Tuesday and Thursday, will be led by Professor Rasmussen. Each topic will
be introduced using a lecture/discussion format. The material will be illustrated by
reference to actual financial statements and by solving one or more basic problems.
We will then use a combination of cases, articles, and more sophisticated problems
to solidify your understanding of the concepts and to enhance your ability to analyze
the relevant financial statement disclosures. Students are expected to have read any
assigned materials before class. Lectures use a combination of PowerPoint slides and
problems in handouts. Copies of lecture notes, problems covered in class, and
disclosures will be distributed at the start of class and posted to bCourses after the
class. The use of computers and other electronic devices by students in class is
unnecessary and therefore, prohibited by the professor.

There is a weekly discussion session, led by the graduate student instructor (GSI).
During these sessions, the GSI will discuss solutions to suggested on your own
problems and debrief the Team Exercises. They will not cover new material.
Professor Rasmussen may attend some of these review sessions on both an
announced and unannounced basis to assist you with understanding the solutions to
the problems. It is important that you work problems before the solutions are
discussed because you will be unable to solve new problems by trying to memorize
solutions to old problems.

University of California, Berkeley

Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015
Grading:
Following is a summary of graded activities for this course:

Class Contribution
10%
20%
Team Exercises
20%
Financial Statement Analysis Project and Presentation
20%
Midterm Exam
30%
Final Exam Comprehensive
100%
Total


Details of each of the activities follow.

Class Contribution
Your score will be based on the following factors:
a. Participation in class discussions is expected. Please be prepared.
b. Arrive in class on time. We have much information to cover in a short time.
c. Bring your name card to class and display it every day.

Background Reading: You should read the assigned materials from the handouts and
text before the materials are covered in class. The material covered in class may offer
different perspectives than the text and will also serve to reinforce the material that
you have read.
Class Exercises: You cannot learn accounting by just reading the handouts and text.
You will need to solve problems to develop expertise in the accounting process. We
will work through a number of exercises in class and you will be asked to work with
the professor to answer them. You will also be provided exercises to complete on
your own. Solutions to both will be provided on bCourses and the on your own
exercises will be debriefed in section.

Team Exercises
During class, as scheduled in the attached Readings and Exercises, you will break into
teams of 3 to perform exercises on the topics we have been discussing. You will hand
them in at the end of class. Team exercises cannot be made up unless student has a
documented medical excuse. The teams will be randomly selected by the instructor
and will vary for each exercise. Teamwork is a fundamental in the work world, so
please ensure you contribute to your teams effort. There will be Peer Evaluations
that will contribute to your grade.

University of California, Berkeley

Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015
Financial Statement Analysis Project and Presentations
Students will form teams of 3 to complete this analysis. Each group will select a Form
10-K of a publicly traded company (not a financial institution), then answer the
questions on the Financial Statement Analysis Project handout (provided by the
instructor). When complete, the group will turn in the companys Form 10-K and their
type written responses to the handout questions on Wednesday, April 22, 2015. Each
group must select a company that is different from the other groups. The teams will
be randomly selected by the instructor. As with the in-class team exercises, the
project will have Peer Evaluations that will contribute to your grade.

Once the project has been submitted, the teams will present an element of their
analysis in a 5 minute presentation to the class. The instructions for this assignment
will be provided on bCourses.

Examinations
Examinations will be based on material covered in class, the in class and on your
own exercises and the team exercises. Examinations are mandatory unless they are
excused, ahead of time, for a documented illness or family matter. Students who do
not take an exam and are not excused from the exam will receive a score of zero.
Students who are excused from the midterm will have additional weight placed on
the final exam. There will be no scheduled make-up exams for the midterm.
Calculators (not computers or cell phones) that dont have the ability to store text
are the only ones allowed for exams.

Academic Integrity
The student community at UC Berkeley has adopted the following Honor Code:
As a member of the UC Berkeley community, I act with honesty, integrity, and respect
for others. The hope and expectation is that you will adhere to this code.

Cheating on exams and plagiarism are two common examples of dishonest, unethical
behavior. Honesty and integrity are of great importance in all facets of life. They
help to build a sense of self-confidence, and are key to building trust within
relationships, whether personal or professional. There is no tolerance for dishonesty
in the academic world, for it undermines what we are dedicated to doing furthering
knowledge for the benefit of humanity.

Your experience as a student at UC Berkeley is hopefully fueled by passion for learning
and replete with fulfilling activities. And we also appreciate that being a student may
be stressful. There may be times when there is temptation to engage in some kind of
cheating in order to improve a grade or otherwise advance your career. This could be

University of California, Berkeley

Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015
as blatant as having someone else sit for you in an exam, or submitting a written
assignment that has been copied from another source. And it could be as subtle as
glancing at a fellow students exam when you are unsure of an answer to a question
and are looking for some confirmation. One might do any of these things and
potentially not get caught. However, if you cheat, no matter how much you may have
learned in this class, you have failed to learn perhaps the most important lesson of all.

There is zero tolerance for cheating or similar dishonest behavior at the Haas School.
Moreover, anyone who willingly conceals these activities will be considered
accomplices and equally culpable.

Accommodation of Students with Disabilities
Students with disabilities seeking academic accommodation in this course need to
promptly notify the instructor by providing a Letter of Accommodation from the
Disabled Students Program. Notice of accommodation later than three weeks may
result in an inability to timely provide accommodations.

Students with disabilities granted extended time on examinations will be scheduled
to start exams at the same time as other students unless there are extenuating
circumstances such as another exam.

Information about special examination room accommodations will be provided via
email a week before the exam is scheduled. Please immediately contact your
instructor if you have not received an email with detailed examination
accommodation information no later than three business days prior to the date the
course examination is scheduled.

Accommodation of Religious Creed
In compliance with Education code, Section 92640(a), it is the official policy of the
University of California at Berkeley to permit any student to undergo a test or
examination, without penalty, at a time when that activity would not violate the
student's religious creed, unless administering the examination at an alternative time
would impose an undue hardship that could not reasonably have been avoided.
Requests to accommodate a student's religious creed by scheduling tests or
examinations at alternative times should be submitted directly to the faculty member
responsible for administering the examination by the second week of the semester.
Reasonable common sense, judgment and the pursuit of mutual goodwill should
result in the positive resolution of scheduling conflicts. The regular campus appeals
process applies if a mutually satisfactory arrangement cannot be achieved.

University of California, Berkeley

Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015
The link to this policy is available in the Religious Creed section of the Academic
Calendar webpage.
Conflicts between Extracurricular Activities and Academic Requirements
The Academic Senate has established Guidelines Concerning Scheduling Conflicts
with Academic Requirements to address the issue of conflicts that arise between
extracurricular activities and academic requirements. These policies specifically
concern the schedules of student athletes, student musicians, those with out-of-
town interviews, and other students with activities (e.g., classes missed as the result
of religious holy days) that compete with academic obligations.
The pedagogical needs of the class are the key criteria when deciding whether a
proposed accommodation is appropriate. Faculty must clearly articulate the specific
pedagogical reasons that prevent accepting a proposed accommodation. Absent
such a reason, the presumption should be that accommodations are to be made.
It is the students responsibility to notify the instructor(s) in writing by the second
week of the semester of any potential conflict(s) and to recommend a solution, with
the understanding that an earlier deadline or date of examination may be the most
practicable solution.
It is the students responsibility to inform him/herself about material missed because
of an absence, whether or not he/she has been formally excused.
The complete guidelines are available on the Academic Senate website. Additionally,
a checklist to help instructors and students comply with the guidelines is available on
the Center for Teaching and Learning website.
Absences Due to Illness
Instructors are asked to refrain from general requirements for written excuses from
medical personnel for absence due to illness. Many healthy people experience a mild-
to-moderate illness and recover without the need to seek medical attention.
University Health Services (UHS) does not have the capacity to evaluate such
illnesses and provide documentation excusing student absences. However, UHS will
continue to provide documentation when a student is being treated by Tang for an
illness that necessitates a change in course load or an incomplete.
From time-to-time the Academic Senate has issued guidance concerning missed
classes and exams due to illnesses such as influenza advising that students not
attend class if they have a fever. Should a student experience repeated absences due

University of California, Berkeley

Haas School of Business
UGBA 120AA Intermediate Accounting
Spring 2015
to illness, it may be appropriate for the faculty member to ask the student to seek
medical advice. The Senate guidelines advise faculty to use flexibility and good
judgment in determining whether to excuse missed work, extend deadlines, or
substitute an alternative assignment. Only the Committee on Courses of Instruction
(COCI) can waive the final exam. However, a department chair can authorize an
instructor to offer an alternative format for a final exam (e.g., paper, take-home
exam) on a one-time basis (http://academic-
senate.berkeley.edu/committees/coci/toolbox#16).