INTERMEDIATE ACCOUNTING 1

ADM2342A
Fall 2014

Professor

Robert Collier

Office

DMS 6111

Telephone

613-562-5800 Ext. 4741

E-mail

collier@telfer.uottawa.ca
Please use ADM2342A as the subject in the email.
(For reasons of privacy, confidentiality, and security you must use your
University of Ottawa E-mail address when emailing Professor Collier
and the ADM234A X Teaching Assistant)

Tuesday Lecture 08:30 10:00 am

Friday
Lecture 10:00 11:30 am
Thursday DGD 13:00 14:30 pm (optional)

Class/ DGD Hours

Office Hours
Class/DGD Location
Prerequisite(s)

ADM 1340 or ADM 2340

Program of Study

Specialization in Accounting

BlackBoard

You must access the ADM2342A folder in BlackBoard at

least twice weekly during this course.

Course
Deliverable
In-class quizzes
Midterm Exam 1, 2
1, 2

Final Exam
Class Protocol
1

Tuesday 12:00 pm 3:00 pm

DMS 1150 class lectures
SCS E217 DGD (optional but recommended)

Details
Two quizzes x 5 marks/quiz
Quiz No. 1 September 12
Quiz No. 2 November 18
Saturday, October 11 (9:00 11:30 AM)
Location: TBA
Day and Room: TBA

Weight on
Course Grade
10%
40%
50%

See Note #10 on page 8

Normally, you must receive 45% on the mid-term exam in order to qualify to write the final exam.
This means you are not permitted to write the final exam unless you have scored at least 45% on the
midterm exam.
Normally, to pass this course, you must receive at least 50% on the midterm exam and final exam
combined. Because the midterm and final exams are collectively worth 90% of the final grade, this
means you must score at least 45 out of 90 on the midterm exam and final exam combined in order
to pass this course.

Course Objective
This course, along with ADM3340 Intermediate Accounting II, is designed to provide students
with a strong foundation for the practice of accounting in the 21st century. It focuses on the
development of competencies by incorporating knowledge with the skills and attitudes necessary
to succeed as an accounting professional in Canada in an environment that consists of multiple
accounting standards [for example, Accounting Standards for Private Enterprises (ASPE) and
International Financial Reporting Standards (IFRS)].

Scope Of The Course

This course focuses on various theoretical and practical issues related to the following specific
topics:
The Canadian Financial Reporting Environment
Conceptual Framework Underlying Financial Reporting (self-study)
The Accounting Information System (self-study)
Reporting Financial Performance
Financial Position
Revenue Recognition
Detailed analysis of the mixed-attribute measurement models used by IFRS and ASPE
and the accounting methods related to: cash and receivables; inventories; investments in
debt and equity securities; property, plant & equipment; and depreciation, impairment,
disposition, and revaluation.

Textbook And Other Supplementary Resources

1)

Intermediate Accounting, Kieso, Weygandt, Warfield, Young & Wiecek, 10th Canadian
edition, Volume 1, John Wiley & Sons Canada Ltd., 2013.

2)

WileyPLUS is NOT required for the Fall 2014 offering of this course.

3)

Accounting Standards for Private Enterprises (ASPE), International Financial Reporting

Standards (IFRS), and 2013 Financial Reporting in Canada Under IFRS (which looks at
the application of IFRS from a Canadian perspective by examining and explaining IFRS
requirements and illustrating their application using real-world extracts of financial
statements from companies that have already adopted IFRS) are available through the
Librarys network. These can only be accessed at CICA Standards and Guidance
Collection from a computer on campus (not from home unless your web provider is
EduNET).

4)

University of Ottawa Library Accounting Portal: this provides access to core accounting
and auditing resources. These resources include both print and electronic formats, found
at the University of Ottawa and on the web.
http://uottawa.ca.libguides.com/content.php?pid=13684&sid=91958

ADM2342A Intermediate Accounting 1 Fall 2014

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5)

http://bomode.telfer.uottawa.ca/notesrecpay/notereceivable_Sheet.aspx is an interactive
learning application that supplements the textbooks coverage of accounting for notes
receivable and payable under the amortized cost model using either the effective-interestrate or straight-line method.

6)

www.mammaifrs.com is a supplementary interactive learning application which provides

an overview of the mixed-attribute measurement model for assets used by IFRS
(MAMMAIFRS).

6)

www.capitalassetrevaluation.com supplements the textbooks coverage of the

Revaluation Model and its accounting for revaluation increases and decreases,
impairment losses, and impairment loss reversals in accordance with IAS 16 [Property,
Plant and Equipment] and IAS 36 [Impairment of Assets].

7)

www.impairmentlonglivednonfinancialassets.com supplements the textbooks coverage

of accounting for the impairment of long-lived non-financial assets under IFRS, Canadian
Accounting Standards for Private Enterprises (ASPE), and U.S. GAAP. As with
www.mammaifrs.com and www.capitalassetrevaluation.com above, this application
encourages independent learning by enabling you to self-test and interactively create and
review simple and challenging problem-scenarios and automatically generated annotated
solutions.

If students have any questions in the use of, or suggestions for improvement of, the above-noted
supplementary interactive learning applications, they will need to direct them to the learningapplications developer (Professor Brian Conheady, DMS 7157; conheady@telfer.uottawa.ca ).
Class Preparation
The drop rate and/or failure rate in this course has been high in the past. To do well in this
course, the following approach is highly recommended:
Read the assigned material prior to each class and attempt to gain a basic understanding
of the material;
Attend the classes and try to get a better understanding of the material by asking
questions and working through the in-class problems along with the professor;
After each class (and before the next class), review the material taken up in class and
answer all of the assigned problems for each chapter to ensure understand the material;
If there are points that you did not understand, contact your professor or your TA: do not
wait until the week or two before the exam;
Attend the weekly DGDs (The DGDs will cover questions taken from previous ADM
2342 exams; however hard-copy solutions will not be distributed to students nor will the
questions or solutions be uploaded to BlackBoard).
Mastery of the course content requires regular, substantial, and intense study. To help you
achieve the course objectives, questions and problems from the textbook are assigned for each
topic. You must come to class prepared to discuss the days material. In addition, various
teaching materials may be distributed which are considered part of the course materials and are
examinable.
Students should aim to spend at least 9 hours each week for every 3 hours of lecture time.
ADM2342A Intermediate Accounting 1 Fall 2014

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Pedagogy
This course will use a combination of lectures, discussions, DGDs, and problem-solving. The
lectures highlight the main points of the assigned readings and chapters; discussions will help to
clarify and expand on the themes of the course; problem-solving aims to illustrate the application
of the learned techniques to particular problems. Students will need to check both BlackBoard
and their University of Ottawa email twice each week for communiqus issued by the professor.
The DGDs will provide a workshop environment for discussing and applying ADM2342
concepts.
Evaluation
Two in-class quizzes (2 x 5%)
Midterm exam
Final exam
Class protocol

10%
40%
50%
see page 8

The first in-class quiz is a review quiz and will cover accounting concepts and applications
learned from ADM 1340 or its equivalent. This will include: journal entries; use of T-accounts;
year-end adjusting entries; creation of trial balances; preparation of basic year-end financial
statements; knowledge of introductory accounting principles, conventions, assumptions, and
constraints; and basic accounting for cash, receivables, inventory, property, plant & equipment,
and liabilities.
For the first quiz only:
(i) if a student scores 65% or better (competent), he or she will automatically receive 5
out of 5 on the quiz;
(ii) if a student scores between 50% and 64.5% on the quiz, he or she will automatically
receive 3.25 out of 5;
(iii) if a student receives below 50% on the quiz (non-competent), he or she will
automatically receive 0 out of 5.
For the second quiz, a student`s raw score will be prorated to a base out of 5 marks.
As indicated on the covering page of this outline, normally, in order to pass this course, you must
receive 45% on the midterm exam in order to qualify to write the final exam. This means you
are not permitted to write the final exam unless you have scored at least 45% on the midterm
exam. In addition, normally to pass this course, you must receive at least 50% on the midterm
exam and final exam combined. Because the midterm and final exams are collectively worth
90% of the final course grade, you must score at least 45 out of 90 marks on the midterm exam
and final exam combined in order to pass this course.
The final examination is comprehensive and normally examines some pre-midterm material as
well as material covered after the midterm examination. As the end of term approaches, the
professor normally indicates the weighting that will be used on the final examination for premidterm and post-midterm material.
See note #5 below for information concerning missed quizzes and exams.

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Important Notes
1)

Attendance at Lectures
You are reminded of the university policy that attendance at lectures is mandatory, and
that a student can be prevented from taking a final exam if the professor deems that the
student has not attended a sufficient number of lectures. Class attendance should not be a
problem because experience has shown that, in order to pass this course, virtually all
students find they need to attend every lecture in order to properly grasp and apply the
concepts discussed.

2)

WileyPLUS
WileyPLUS is optional for the fall 2014 offering of this course. The software is normally
purchased as a package with the textbook. Although there are no mandatory deliverables
using WileyPLUS, you may wish to register with WileyPLUS and use the resources
contained therein such as practice problems, practice quizzes, etc. Experience has shown
that, in the majority of instances, a student`s knowledge and mastery of the topics
covered in this course may be improved through the use of WileyPLUS.
Do not contact the professor with any problems you encounter with WileyPLUS.
Instead direct your problems to Sara Veltkamp, WileyPLUS Account Manager,
John Wiley & Sons, Email: sveltkamp@wiley.com
In order to use WileyPLUS, you will need to register in your class section. Please follow
the steps in the Student Information Flyer posted on BlackBoard to walk you through the
registration steps. When registering in WileyPLUS, you must include your University of
Ottawa Student ID and your University of Ottawa email address. If you do not use your
U of Ottawa email address you will be deleted from your WileyPLUS course.
For a 2 minute tutorial on how to register into WileyPLUS, check out this link:
www.wileyplus.com/register. To get Help with WileyPLUS, go to the WileyPLUS Tech
Support team through Live Chat at www.wileyplus.com/support.

3)

End-of-Chapter Homework Exercises and Problems for discussion in class and DGDs
The exercises/problems to be discussed in class will normally come from those listed in
the lecture schedule on page 12 of this course outline. Lecture time will not permit all of
the assigned exercises and problems to be discussed during the lecture. However,
solutions to all assigned questions will be uploaded to BlackBoard at the start of the
spring/summer semester. You may consult your TA if you have questions about how to
approach a specific exercise/problem but your TA will not do these questions or validate
your solutions beforehand.
The DGDs will be held weekly and will normally cover actual exam questions that have
appeared on previous ADM 2342 exams. Hard copy solutions will not be provided nor
will solutions be uploaded to BlackBoard. The onus will be on each student to attend the
DGD if he or she wants to see how a specific question is solved.

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4)

Scope of Material
As noted above, due to the volume of material to be covered, we shall only have time in
class to cover some of the exercises/problems assigned in the lecture outline. However,
you are still responsible for the entire contents of each chapter unless indicated
otherwise. In addition, various assigned articles and/or handout questions may be
discussed in class. The material covered by these articles or handout questions is also
considered part of the course materials and is examinable.

5)

Missed Quizzes and/or Examinations

Quizzes: personal or work-related reasons do not constitute valid excuses for missing a
scheduled quiz [http://web5.uottawa.ca/admingov/regulations.html#r55].
Examinations: students are expected to write the midterm and final examinations as
scheduled. The Student Services Center (SSC) [located on the ground floor of the DMS
Building] is the only body that can approve and manage the deferred mid-term and final
examinations with the students. Students must contact the SSC if they missed their
midterm or final exam in order to complete the appropriate form. Absence because of
illness must be justified by a valid medical certificate and given to the SSC during the
week following the examination. Students who write an examination during the period
specified on this certificate may not plead illness to appeal their examination results.
Absence for any other reason must be justified in writing no later than five working days
after the examination. Please note that the School usually only accept deferrals for
medical reasons (with a valid medical certificate), for death in the immediate family (with
a death certificate) or for religious reasons. The School reserves the right to accept or
reject the reason offered. Travel, employment and misreading the examination schedule
are not accepted. Students who have been authorized to miss a mid-term or final
examination for an acceptable reason will be allowed to write a deferred mid-term or
final examination on a date chosen by the School.
Students who do not write the final examination will normally obtain a failing grade for
the course. A student may apply for prior authorization to be absent from an examination
in exceptional circumstances (see the Telfer School calendar for details).

6)

Unclaimed Quizzes or Mid-Term Exam

If the mid-term exam is not claimed within 2 weeks of being marked and returned to
students, the exam will normally be discarded in accordance with university policy.

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7)

Protocol For Requests To Review The Mid Term Exam

This protocol adheres to a fully documented formal process:

8)

(a)

A suggested solution to the mid-term exam scheduled in this course outline will
be posted to BlackBoard to encourage a student to see and learn where he or she
answered correctly and incorrectly on the exam.

(b)

In accordance with university regulations, a request to have the mid-term

examination reviewed must be made within 5 working days of the exam being
returned to students.

(c)

Any request to have the midterm exam reviewed for re-marking purposes can only
be made if the exam was written in non-erasable pen.

(d)

Such a request must be typed and include a clear and detailed explanation of why
the request is being submitted.

(e)

The students exam will then be reviewed to ensure that it was marked on a
consistent basis with the other ADM2342 students exams. A students mark will
be changed (increased or decreased) only if (i) there is evidence of inconsistent
marking, (ii) there is a computational error in the addition of marks or (iii) if a
particular part of the students exam was inadvertently not assessed.

(f)

The reviewed exam and the reviewers comments will normally be returned to the
student within one week of receipt.

(g)

Frivolous requests may result in a loss of marks (see Note #10 below) and may be
referred to the Undergraduate Program Director.

E-Mails
Students must check both BlackBoard and their University of Ottawa email at least twice
weekly for communiqus and updates issued by the professor. For reasons of privacy,
confidentiality, security, and normal organizational protocol, you must use your
University of Ottawa email address when sending out E-mails to your professor or
teaching assistant: no University of Ottawa email address, no response.
If you have a question regarding the ADM 2342 course, do not send an E-Mail with your
question to your professor expecting a detailed E-Mail response. Instead, use the
professors office hours (Tuesdays 12:00 PM to 3:00 PM or by appointment in DMS
6111) for this purpose and he shall be happy to go over the question/problem with you.

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9)

Getting Help
If you are having trouble with the course material, you should seek help from your fellow
students and/or the TA and the professor for this course. The professor is available during
office hours (see page 1 of outline) and strongly urges students to make use of this
assistance.

10)

Class Protocol
Students are expected to behave in a courteous and respectful manner during classes and
in their email communications with one another, the TA, and with the professor.
Discourteous and/or disrespectful behaviour includes:
Arriving late at class;
Distracting the class or any members of the class including the professor (for
example, by talking in class, or by using a laptop or other communication device
to view materials not directly related to ADM2342);
Using a cell phone during class or allowing a cell phone to ring during class;
Using University of Ottawa email to send inappropriate emails.
Disrespectful words or actions towards any student or professor.
Unauthorized video and/or audio recording in class, at DGDs, or in the
professors office.
Frivolous requests to review a midterm exam paper (see Note #7 above).
The professor reserves the right to deduct marks from the overall course mark for
discourteous behaviour: 0.5 to 2 marks for a minor infraction; 1 to 10 marks for repeat or
serious infractions. The latter will be reported to the Director of the Undergraduate
Program.

11)

Release Of Course Grade

Only the Undergraduate Office is permitted to release course grades.
Professors are not permitted to release course grades.
It is inappropriate for students to contact the professor after the final examination and
before the course grades are released/published by the Undergraduate Office.

ADM2342A Intermediate Accounting 1 Fall 2014

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Beware Of Academic Fraud

Academic fraud is an act committed by a student to distort the marking of assignments, tests,
examinations and other forms of academic evaluation. Academic fraud is neither accepted nor
tolerated by the University. Anyone found guilty of academic fraud is liable to severe academic
sanctions.
Here are a few examples of academic fraud:

engaging in any form of plagiarism or cheating;

presenting falsified research data;

handing in an assignment that was not authored, in whole or in part, by the student;

submitting the same assignment in more than one course, without the written consent of
the professors concerned

In recent years, the development of the Internet has made it much easier to identify academic
plagiarism. The tools available to your professors allow them to trace the exact origin of a text
on the Web, using just a few words.
In cases where students are unsure whether they are at fault, it is their responsibility to consult
the Universitys Web site at the following address, where you will find resources, tips and tools
for writing papers and assignments:
http://web5.uottawa.ca/mcs-smc/academicintegrity/home.php
Persons who have committed or attempted to commit (or have been accomplices to) academic
fraud will be penalized. Here are some examples of the academic sanctions, which can be
imposed:

a grade of F for the assignment or course in question;

an additional program requirement of between three and thirty credits;

suspension or expulsion from the School.

Please be advised that professors have been formally advised to report every suspected case of
academic fraud. In most cases of a first offence of academic fraud, the sanction applied to
students who have been found guilty is an F for the course with an additional three credits
added to their program requirements. Repeat offenders are normally expulsed from the School of
Management.
Finally, the Telfer School of Management asks that students sign and submit with their
deliverables the Personal Ethics Statement. Two versions of this form exist: one for individual
assignments, and one for group submissions. Assignments will not be accepted or marked if
this form is not submitted and signed by all authors of the work. We hope that by making
this personal commitment, all students will understand the importance the School places on
maintaining the highest standards of academic integrity. The forms are accessible on
BlackBoard.

ADM2342A Intermediate Accounting 1 Fall 2014

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Statement of Academic Integrity

Integrity is a basic value of our society and of the business world. Academic integrity is also a
key value of the Telfer School of Management. To underline its importance, all assignments,
reports, projects, or other work submitted in partial fulfillment of the requirements of a course at
the Telfer School of Management must include on its front page an ethics statement:
Please note that any submission in a course (homework, assignment, report, etc.) that does not
include that signed ethics statement will not be corrected and will get a grade of zero.

Personal Ethics Statement Concerning Telfer School Assignments

Individual
By signing this Statement, I am attesting to the fact that I have reviewed the entirety of the
assignment and that I have applied all the appropriate rules of quotation and referencing in use at
the Telfer School of Management at the University of Ottawa, as well as adhered to the fraud
policies outlined in the Academic Regulations in the Universitys Undergraduate Studies
Calendar. I further attest that I have knowledge of and have respected the Beware of
Plagiarism brochure found on the Telfer School of Managements BlackBoard site.

________________
Signature

______________
Date

________________________________
Last Name (print), First Name (print)

______________
Student Number

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Course Contribution to the Bachelor of Commerce Learning Goals

Learning Goal 1

Understand, Apply and Integrate Core Management Disciplines

ADM2342 follows on from ADM1340 Introductory Accounting and actively integrates

knowledge of the other core management disciplines. ADM2342 and its successor financial
reporting courses are designed to provide accounting students with a deep understanding of
financial reporting for the entire array of organizational activities such as financing, investment,
marketing, production, research and development, income and other taxes, employee and
executive compensation arrangements, procurement, leasing arrangements, constructive and
legal obligations, pension funding and servicing, mergers and acquisitions, and human resources
development. The greater a students knowledge of the other core management disciplines the
better his/her ability to appropriately account for their activities.

Learning Goal 2

Demonstrate Critical Thinking and Decision Making Skills

ADM2342 requires critical thinking and decision making skills when applying judgment as to
how generally accepted accounting principles, including the conceptual framework underlying
financial reporting and IFRS and ASPE, should be applied to account for organizational
activities when preparing general purpose financial statements intended for use by a variety of
stakeholders.

Learning Goal 3

Demonstrate Leadership, Interpersonal and Communications Skills

ADM2342 requires students to demonstrate communication skills by presenting financial

statements and associated disclosure notes in accordance with IFRS and/or ASPE.

Learning Goal 7

Provide Value to the Business Community in a chosen Area of

Specialization

ADM2342 is a course recognized by CPA (Chartered Professional Accountant) Canada and the
Certified General Accountants of Ontario.

ADM2342A Intermediate Accounting 1 Fall 2014

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ADM2342A LECTURE SCHEDULE FALL 2014

Week
Ending

Chapter Readings*

Ch

End-of-Chapter Assigned
Problems

Sept 5

Introduction to ADM 2342

The Canadian Financial Reporting Environment
In-class discussion on Chapter 2 and 3

Hand out Problem Chapter

2&3
WA1-7; WA1-8; WA1-9

Sept 12

Quiz No. 1 (Sept 12) covering equivalent of

Chapters 2, 3, and Appendices 4A & 5A
Reporting Financial Performance Part 1

BE4-13; E4-3; E4-8; E4-9;

E4-15; P4-10: P4-14; P4-15

Sept 19

Reporting Financial Performance Part 2

Sept 26

[including Appendices 5A and 5B] Part 1

E5-7; E5-8; E5-10; E5-16;

P5-3; P5-7 (parts a & b only)

Oct 3

Financial Position and Cash Flows Part 2

Revenue Recognition [Omit Chapter 6 material on the

5
6

E6-3 E6-4, E6-5 (a & b

only); E6-9; E6-12; E6-14
P6-2; P6-3

Contract Based Approach] www.mammaifrs.com

Oct 10

Revenue Recognition Part 2

Mid Term Exam (Chapters 1, 2, 3, 4, 5, 6)

Time/Date: Saturday, October 11 (9:00 11:30AM): Location: TBA
Oct 24

Oct 31

Cash & Receivables

http://bomode.telfer.uottawa.ca/notesrecpay/noterece
ivable_sheet.aspx
Inventory [Omit Appendix 8A; Include Appendix 8B]
www.mammaifrs.com

E7-11; E7-19; P7-6; P7-11

E7-13; E7-16; P7-8;

E8-14; P8-1; E8-8-26;

E8-19; E8-9; P8-7; E8-20;
E8-21; E8-27

Nov 7

Investments www.mammaifrs.com

E9-1; E9-3; E9-7; E9-12;

E9-17; E9-18; E9-24;

Nov 14

Investments (continued)

P9-3; P9-5; P9-11; E9-17;

Nov 21

Quiz No. 2 (Nov 18) covering Chapters 8 and 9

Property, Plant & Equipment Part 1
10

E10-3; E10-4; E10-11;

E10-15; E10-19; E10-21;
E10-22; E10-24; E10-26
[exclude parts (f) & (g)];
P10-2; P10-7

Nov 28

Property, Plant & Equipment Part 2

Depreciation, Impairment, & Disposition [Omit:
Appendix 11A: pages 702 - 706]
www.impairmentlonglivednonfinancialassets.com

10
11

E11-5; E11-15; E11-19;

E11-20; E11-21; E11-23;
E11-24

Dec 5

Depreciation, Impairment, & Disposition

11

[Omit Replacements, Major Overhauls, and Inspections,

pp 622-625 and Appendices 10A & 10B: pages 631 - 638]
www.mammaifrs.com www.capitalassetrevaluation.com

December 4 - 17 Official Examination Period

* Chapter 2, Chapter 3, Appendix 4A, and Appendix 5A represent self-study material covering topics that
were discussed in ADM1340. Quiz No. 1, to be held on May 14, covers the equivalent of this material
in these self-study chapters. Self-study material is fully examinable on the midterm and/or final exam.
** Withdrawal from a Fall course after November 14, 2014 will appear as a failure on the transcript.
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