393699: Intermediate Accounting Theory and Practice
MGMT-X 120C

This course takes place fully online and will not include scheduled live meetings. This course is available 24/7 during the inclusive course dates. Each course week starts on Monday 12:00 AM and ends on Sunday 11:59 PM Pacific Time (US).

Our class ends on 9/10/23. 

This is the third course in the three-course Intermediate Accounting sequence. MGMT X 120C covers such complex accounting issues as accounting for investments, revenue recognition, pension plans, leases, accounting for income taxes, accounting changes, preparation of the statements of cash flows, and an overview of financial statement analysis. Transferable for UC credit.

During this course, you will:

• Analyze Generally Accepted Accounting Principles (GAAP) and the application of those accounting principles to investments, revenue recognition, leases, pensions, and the statement of cash flows.
• Assess the fundamentals of corporate accounting for income taxes to include loss carryforwards and presentation of deferred income taxes on the financial statements.
• Evaluate accounting changes and error analysis as well as full disclosure principles.

By the end of this course, you should be able to:

• Evaluate the controversial accounting for investments in debt and equity securities using the standard issued by the Financial Accounting Standards Board (FASB).
• Explain revenue recognition and measurement through the five-step revenue recognition process.
• Identify the fundamentals of accounting for income taxes and any changes such as the Tax Cuts and Jobs Act (TCJA).
• Record employer’s pension plan entries using a worksheet as well as reporting requirements on the financial statements as outlined by Generally Accepted Accounting Principles (GAAP).
• Assess all aspects of lease accounting including new standards released by FASB.
• Analyze accounting changes in principle and accounting changes in estimates and the impact on the financial statements while adhering to GAAP.
• Prepare the statement of cash flows in compliance with GAAP as well as the types of information it provides.
• Review full disclosure principles with special attention on the notes to the financial statement and the auditor’s report.
• Formulate a solid understanding on how ethics plays a role in the accounting profession.

(Interm Acct 18e BRV w/WPBB)

1. Familiarity with Canvas
2. Daily access to the Internet
3. Recommended to commit 15 solid hours of self study per chapter
4. Microsoft products will be used (PowerPoint slides and Excel)

Points and Grading: 1000 points possible for all course components

Grades are assigned based on four major independent measures of learner competency:

Discussion Rubric

This rubric will be used to assess the quality of your participation in the online discussion forums.  Please use this tool as a guide when constructing your postings.

 Weekly Assignments

There is one actual problem that will be turned in and graded each week. However, it is important to work through as many problems as possible. Accounting is all about repetition and practice. To avoid being intimidated by the concepts or material, I suggest “jumping in” to the homework. That is, you should attempt as many problems as possible – even if you do not fully understand the problem(s). It is the process of “crash, burn, review, and revise” that helps you to master the material and pass professional exams. The more problems you attempt in this way, the greater your chances of success.

For me, I like to approach the materials as follows: (1) a quick read of the chapter; (2) then work lots of problems; and (3) a final re-read of the materials. Don’t be afraid to experiment with your approach to learning. Also, reading the authors’ solutions to the Exercises, Problems, and Questions is very helpful because they contain lots practical insights.

There are lots of problem solutions for each chapter. Lastly, make time to review and reinforce what you’ve learned from past chapters. Periodically reviewing past materials will not only build your knowledge but reduce study time for the exams.

 Exams

There will be two (2) exams covering 4 chapters each. You must attempt all exams to earn a grade. Because accounting concepts build on each other, successive exams will contain some content from previous chapters. In addition to the information here, the class calendar will show all exam dates and the material to be tested. The following guidelines apply to all exams:

1. For each exam, you are allotted several days – see the schedule below. The exams will be available on Monday morning at 8am (PST) and close the following Sunday evening at 12pm (PST). You can take the exam anytime during this period. The exam dates are fixed, please make a note of these dates and adjust your schedule accordingly.

2. It is a good idea to prepare for and plan on taking the exam on the 1st or 2nd day. That way, you can allow time for any unexpected emergencies (e.g., computer problems, etc.). If the exam period lapses, the exam will be assigned a score of zero.

3. Each exam will be 3 hours. The exam will consist of multiple choice questions. Each exam will test material from the textbook and class slides/notes. The questions are designed to test accounting theory, practice, disclosure requirements, and journal entries. 

4. The exams are open book and open notes; however, you’ll be more likely to score well if you study the materials and do lots of problems before the exam. Students that rely on looking up answers in the text often run out of time.

5. While exams are open book and open notes, they are not open to assistance from any other source. For example, having a buddy help you during the exam is not allowed. All students are bound by UCLA’s policies – which precludes cheating of any kind.

6. You are allowed access into the exam only 1 time. That means, once you begin an exam, you must complete it within the 3 hour time frame. Prematurely exiting an exam will close the exam and the exam will be scored based on the results submitted.

7. Save your exam every time 3-5 minutes (or even more frequently if you want).

8. To save time during the exam, it may be helpful to print class slides/notes that you’d like to use during the exam ahead of time. That way, you avoid jumping between screens and accidentally exiting the exam.

Late Policy:

Regarding my policy on late work; unless you have made arrangements with me beforehand, late work will not be accepted. Much of the material builds and we cover a lot of material, therefore, it is vital that you keep up with assignments and turn them in on time to help ensure your success.

Instructor Expectations:

Students are subject to disciplinary action for several types of misconduct or attempted misconduct, including but not limited to academic dishonesty, such as cheating, multiple submission, plagiarism, or knowingly furnishing false information to the University; or behavioral misconduct, such as theft or misuse of the intellectual property of others, harassment, or disruption of the learning environment.

All published and unpublished material, whether in manuscript, printed or electronic form, is covered under this definition and includes the use of material generated wholly or in part through the use of artificial intelligence (except when the use of AI has received prior authorization for assessment as a reasonable accommodation for a student’s disability, or when the use of AI is a specified part of the coursework, e.g. data science or user experience). Students are encouraged to familiarize themselves with the Student Rights & Responsibilities Policy and to report concerns.

In accordance with the Americans with Disabilities Act of 1990, UCLA Extension provides appropriate accommodations and support services to qualified applicants and students with disabilities. These include, but are not limited to, auxiliary aids/services such as sign language interpreters, assistive listening devices for hearing-impaired individuals, extended time for and proctoring of exams, and registration assistance. Accommodations and types of support services vary and are specifically designed to meet the disability-related needs of each student based on current, verifiable medical documentation. Arrangements for auxiliary aids/services are available only through UCLA Extension’s Service for Students with Disabilities Office at (310) 825-7851 or by email at [email protected]. For complete information, please visit Accessibility and Disability Services.

The interim grade Incomplete (I) may be approved for a student who has completed the majority of the course requirements, with passing quality (grade C or higher), but is unable to complete a small portion of the coursework by the course end date for good cause. For courses in which an Incomplete may be allowed, approval by the instructor of record and the academic program director is required. The Incomplete grade is not an option for courses that do not bear credit, such as 700, 800, or 900-level courses.

• It is the student’s responsibility to petition for an Incomplete by emailing the appropriate academic program department at least one week before the end of the course. The Program Department will initiate the petition process once the email is received.
• The student, the instructor, the CE/Program Director, and the program staff must complete the petition prior to the final course meeting or before the quarter end date. This process can take up to one week to complete. 
• The instructor will approve or deny the request. The instructor will provide details on what the student needs to accomplish in order to complete the course, as well as a due date for submitting completed work. The due date cannot exceed the end of the ensuing quarter when a final grade must be reported or the Incomplete lapses to the grade “F,” “NP,” or “U.” Visit UCLA Extension Grading Scale for more information.  

An Incomplete allows the student to complete only work that is outstanding and does not allow prior completed work to be retaken or resubmitted.

No change of grade may be made by anyone other than the instructor, and then, only to correct clerical errors. No term grade except Incomplete may be revised by re-examination. The correction of a clerical error may be authorized only by the instructor of record communicating directly with personnel of Student and Alumni Services.

The University of California is committed to creating and maintaining a community where all individuals who participate in University programs and activities can work and learn together in an atmosphere free of harassment, exploitation, or intimidation. Every member of the community should be aware that the University prohibits sexual harassment and sexual violence, and that such behavior violates both law and University policy. The University will respond promptly and effectively to reports of sexual harassment and sexual violence, and will take appropriate action to prevent, to correct, and when necessary, to discipline behavior that violates our policy.

All Extension students and instructors who believe they have been sexually harassed are encouraged to contact the Department of Student and Alumni Services for complaint resolution: UCLA Extension, 1145 Gayley Ave., Los Angeles, CA 90024; Voice/TTY: (310) 825-7031. For more information, please view the University’s full Policy on Sexual Harassment and Sexual Violence.

Protecting Privacy and Data During Live Instruction

Live meeting sessions for this class, when applicable, are being conducted over Zoom. As the host, the instructor may be recording live sessions. Only the host has the ability to record meetings, no recording by other means is permitted. Recorded sessions will be posted in the Videos area of this class unless otherwise notified. Due to privacy, recordings are not available for download and are only accessible via Canvas for the duration of the class. If you have privacy concerns and do not wish to appear in the recording, do not turn on your video and/or audio. If you also prefer to use a pseudonym instead of your name, please let the instructor know what name you will be using so that the instructor knows who you are during the session. To rename yourself during a Zoom meeting, click on Participants, click on your name, click on More, click on Rename. If you would like to ask a question, you may do so privately through the Zoom chat by addressing your chat question to the instructor only (and not to ""everyone""). Additionally, chat may be used and moderated for live questions, and saving of chats is enabled. If you have questions or concerns about this, please contact the instructor via Canvas Inbox.

Pursuant to the terms of the agreement between Zoom and UCLA Extension, the data is used solely for this purpose and Zoom is prohibited from re-disclosing this information. UCLA Extension also does not use the data for any other purpose. Recordings will be deleted when no longer necessary. However, recordings may become part of an administrative disciplinary record if misconduct occurs during a video conference.

Course and Instructor Evaluation

UCLA Extension values your feedback on course and instructor evaluations. We ask all students to take a few minutes to complete an end-of-course evaluation survey. Updates to the course and instruction are influenced by your feedback. Understanding your student experience is essential to ensure continuing excellence in the online classroom and is appreciated by your instructor and the UCLA Extension academic leadership.

Your participation in a survey is voluntary, and your responses are confidential. After instructors submit grades, they will be given an evaluation report, but this report will not contain your name.

Please note the following about online course components at UCLA Extension:

• Students must have basic computer skills, including the use of word processing software, email, and the ability to use internet browsers, such as Safari, Firefox, or Chrome.
• Students are responsible for meeting the technical requirements of Canvas and familiarizing themselves with the Canvas Learning Management System.
  • What are the browser and computer requirements for Canvas?
• Students are responsible for keeping a copy of all assignments and work submitted, and to be aware of all assignments, due dates, and course guidelines.
• Students have access to courses via Canvas for an additional 30 calendar days after the course end date listed in the syllabus (the first 14 days are full access; the rest are read-only).
• Students are encouraged to download/print content throughout the duration of the course and before the additional 30-day access ends. No further access is possible after the course becomes unavailable.
  
  To download all your assignment submissions in Canvas, please refer to the online support guide. for more information or contact Canvas Support via the help menu within Canvas.

For immediate 24/7 Canvas technical support, including holidays, click on Help (located on the menu to the left) where you can call or chat live with a Canvas Support representative.

UCLA Extension Academic Technology and Learning Innovation
The UCLA Extension Learning Support staff assists both students and instructors with Canvas-related technical support, as well as general and administrative questions.

Learning Support staff is available Monday through Friday, from 8 AM to 9 PM (Pacific Time), except holidays:

• Email: [email protected]

For students taking classes held on the UCLA campus and in and around Westwood Village, the UCLA Police Department provides a free walking escort service every day of the year from dusk until 1 a.m. Community Service Officers (CSOs) are available to walk students, faculty, staff members and visitors to and from anywhere on campus, in Westwood Village, and in the village apartments. CSOs are uniformed students who have received special training and are employed by the UCLA Police Department. To obtain an escort, please call (310) 794-9255 and allow 15 to 20 minutes for your escort to arrive. For complete information, see UCLA Evening Escorts.

The electronic weeks begin on Monday with weekly assignments due on Sunday. An explanation of this is as follows:

Day 1: Monday
Day 2: Tuesday
Day 3: Wednesday
Day 4: Thursday
Day 5: Friday
Day 6: Saturday
Day 7: Sunday

Typical Week:

• Day One - I will upload all instructions, assignments, topics and questions for discussion, and a description of the week's. Discussion questions can be located in the panel labeled ‘Discussion Questions’. All other material can be found in our weekly folder. 
• Day One - I will upload lecture materials for the chapter(s) covered during the week to the applicable Weekly Folder.
• Days Two through Seven – You will need participate at least three days in the Discussion Board, responding to weekly questions for discussion. Your first response is due by Thursday. You will also need to respond to two other students or the instructor. Each week the questions for discussion are designed to explore the content of the class and develop your collaborative skills in the class meeting. I am not expecting black and white answers or solutions. I am more concerned with the logic and rationale that you use to support your discussion points, drawing on personal experiences or research that either support or in some cases conflict with the assigned readings.
• Day Seven – Complete the graded homework assignment by this day in WileyPlus. You have three opportunities to do the homework to earn the maximum points and then after three attempts the answers will be revealed.