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MASTER SYLLABUS

AKU 2103 – INTERMEDIATE ACCOUNTING III


Prerequisite: AKU2102 Intermediate Accounting II
Credit Hours: 3

Instructor:
Singgih Wijayana, Ph.D.
Accounting Department, Faculty of Economics and Business, Universitas Gadjah Mada
Phone: -; Email: singgihw@ugm.ac.id
Consultation: by appoinment
Class Meeting: Wednesday, 16:15-18:45 : U-204

Course Description
The course is a continuation of Intermediate Accounting II and explains the application of the
concepts and principles of financial accounting of the IASB (International Accounting Standards
Board), particularly for items in stocks and bonds, revenue recognition, pension liabilities, lease,
accounting changes and error analysis, income tax and the principle of full disclosure.

Course Objectives
After taking the course, students should be able to:
1. Understand the accounting concepts and principles (such as recognition, measurement,
valuation, and presentation) of items in the statement of financial position for non-group
entity which are classified in investment securities stocks and bonds, pension liabilities,
income taxes, leases, accounting changes and error analysis, revenue recognition and full
disclosure; and
2. Demonstrate technical expertise to apply the latest GAAP (financial accounting standard) to
the main items to be discussed during the course.

Course Materials
1. Kieso, Donald E., Jerry J. Weygandt, dan Terry D. Warfield. 2017. Intermediate
Accounting. IFRS Edition. 3nd Edition Danver, MA: John Wiley & Sons, Inc.
2. IAI. January 2017. Standar Akuntansi Keuangan. Jakarta: IAI.

Student’s Responsibilities
1. Class meeting will be used by the lecturer to confirm student’s understanding of the
underlying concepts of accounting. Students should read the chapter assigned and are required
to do and submit the individual homework assigned and group assignment before each class
meeting.
2. Students are expected to attend all scheduled class meetings. Absence from class meetings
shall not exceed 25%. Students who exceed the 25% limit without a medical or emergency
excuse acceptable to and approved by the Associate Dean of Academic shall not be allowed
to take the final exam and shall receive a grade of E from this course.
3. Operating laptop, mobile phone, and other communication devices are strictly prohibited
during class meetings. Any student found operating these devices should leave the class and
will be considered as an absence for the class meeting.
Academic Integrity
Academic integrity forms a fundamental bond of trust between colleagues, peers, lecturers, and
students, and it underlies all genuine learning. There is no tolerance for plagiarism or academic
dishonesty in any form, including, but not limited to, viewing the exams of others, sharing
answers with others, using books or notes while taking the exam, copying answers or papers, or
passing off someone else’s work as one’s own. A breach of ethics or act of dishonesty can result
in A FAILURE OF AN ENTIRE COURSE (a grade of “E”).

Teaching Methods
A combination of lecturing, discussion, and problem solving will be applied to this class. Lecturing
is purpoted to confirm student’s understanding of some underlying financial accounting
concepts. Most of the lecturing will be directed to discuss and answer student’s questions.
Hence, the most important requirements for this course are a thorough preparation and reading
materials and active participation in the classroom. Student individually is required to submit
the assigned homework (hand written) before each class meeting.
Grading
Your grade will be determined based on your total score on the following items:
Mid Exam 30%
Final Exam 30%
Quizzes 20%
Discussion and homework 20%
100%
Your final score will be mapped to a course grade based on the following scheme:
A 90 or above C+ 55 to 59
A- 85 to 89 C 50 to 54
A/B 80 to 84 C- 45 to 49
B+ 75 to 79 C/D 40 to 44
B 70 to 74 D+ 35 to 39
B- 65 to 69 D 30 to 34
B/C 60 to 64 E Below 30

Course Outline

Week Topic Reference Homework


1 Revew of Syllabus; 1. Syllabus Handout; TBA
Accounting for financial assets – 2. Kieso Ch.17;
measurement basis (overview). 3. PSAK 50 Financial
Instrument: Presentation (SAK
2017);
4. PSAK 55 Financial
Instrument: Recognition and
Measurement (SAK 2017).
2 Debt investments: 1. Kieso Ch.17; TBA
1. Debt investments – amortized cost; 2. PSAK 50 Financial
2. Debt investments – fair value; Instrument: Presentation (SAK
3. Fair value option; 2017);
4. Summary of debt investment 3. PSAK 55 Financial
accounting. Instrument: Recognition and
Measurement (SAK 2017).
3 Equity investments: 1. Kieso Ch.17; TBA
Week Topic Reference Homework
1. Equity investments at fair value; 2. PSAK 50 Financial
2. Equity method; Instrument: Presentation (SAK
3. Consolidation. 2017);
3. PSAK 55 Financial
Instrument: Recognition and
Measurement (SAK 2017).
4 Revenue (1) 1. Kieso Ch. 18; TBA
1. Current environment: guidelines for 2. PSAK 23 Revenue (SAK
revenue recognition, departure from 2017).
the sale basis;
2. Revenue recognition at point of sale:
measurement and recognition of
sales revenue.
5 Revenue (2): 1. Kieso Ch. 18; TBA
1. Long-term contracts (construction): 2. PSAK 34 Construction
- Percentage-of-completion Contract (SAK 2017).
method;
- Cost-recovery method;
- Long-term contract losses;
- Disclosures;
2. Other revenue recognition issues:
- Service contracts;
- Multiple-deliverable
arrangements;
- Other revenue situations;
- Summary of revenue recognition
methods.
6 Accounting for leases: Lessee: 1. Kieso Ch. 21; TBA
1. The leasing environment: 2. PSAK 73 Leases (SAK 2017).
- Parties involved in leasing;
- Advantages of leasing;
- Off-balance-sheet financing;
- Conceptual nature of a lease;
2. Accounting by the lessee:
- Capitalization criteria;
- Assets and liability accounted for
differently;
- Finance lease method (lessee);
- Operating lease method (lessee);
- Comparison of finance lease with
operating lease.
7 Accounting for leases: Lessor: 1. Kieso Ch. 21; TBA
1. Accounting by the lessor: 2. PSAK 73 Leases (SAK 2017).
- Economics of leasing;
- Classification of leases by the
lessor;
- Direct-financing method (lessor);
- Operating method (lessor);
2. Speial accounting problems:
Week Topic Reference Homework
- Residual values;
- Sales-type leases (lessor);
- Bargain-purchase option (lessee);
- Initial direct costs (lessor);
- Current and non-current;
- Disclosure.
MID EXAM
8 Accounting for income taxes: 1. Kieso Ch. 19; TBA
1. Fundamentals of accounting for 2. PSAK 46 Income Tax (SAK
income taxes; 2017) and ISAK 34.
2. Accounting for net operating losses;
3. Financial statements presentation.
9 Accounting for pensions and 1. Kieso Ch. 20; TBA
postretirement benefits: 2. PSAK 24 Employee Benefit
1. Nature of pension plans; (SAK 2017).
2. Accounting for pensions;
3. Using a pension worksheet;
4. Reporting pension plans in financial
statements;
5. Postretirement benefits.
10 Accounting changes: 1. Kieso Ch. 22; TBA
1. Changes in accounting policy; 2. PSAK 25 Accounting Policy,
2. Changes in accounting estimate; Changes in Accounting
3. Correction of errors; Estimates, and Errors (SAK
4. Summary of accounting changes and 2017).
correction of errors;
5. Motivations for change of
accounting policy.
11 Error analysis: 1. Kieso Ch. 22; TBA
1. Statement of financial position 2. PSAK 25 Accounting Policy,
errors; Changes in Accounting
2. Income statement errors; Estimates, and Errors (SAK
3. Statement of financial position and 2017).
income statement errors;
4. Preparation of financial statements
with error corrections.
12 Statement of Cash Flows (1): 1. Kieso Ch. 23 TBA
1. Usefulness of the statement of cash 2. PSAK 2 Statement of Cash
flows; Flows (SAK 2017).
2. Classification of cash flows;
3. Cash and cash equivalents;
4. Format of the statement of cash
flows;
5. Steps in preparation;
6. Sources of information for the
statement of cash flows;
7. Net cash flow from operating
activities – indirect versus direct
method.
Week Topic Reference Homework
13 Statement of Cash Flows (2): 1. Kieso Ch. 23; TBA
1. Adjustments to net income; 2. PSAK 2 Statement of Cash
2. Accounts receivable (net); Flows (SAK 2017).
3. Other working capital changes;
4. Net loss;
5. Disclosures;
6. Use of a worksheet: preparation of
the worksheet, analysis of
transactons, preparation of final
statement.
14 Presentation and disclosure in 1. Kieso Ch. 24; TBA
financial reporting: 2. PSAK Framework for the
1. Full disclosure principle; Preparation and Presentation
2. Notes to the financial statements; of Financial Statements (SAK
3. Disclosure issues; 2017);
4. Auditor’s and management’s reports; 3. PSAK 1 Financial Statements
5. Current reporting issues. Presentation (SAK 2017).
FINAL EXAM