UNIVERSITY OF PUERTO RICO AT BAYAMON
# 170 Car.174, Parque Industrial Minillas
Bayamón, Puerto Rico 00959
Dean’s Office of Academic Affairs
Business Administration Department
BACHELOR’S DEGREE IN ACCOUNTING
COURSE TITLE : INTERMEDIATE ACCOUTING I
COURSE CODE : CONT 3007
PREREQUISITE : CONT 3006
CREDITS : Four (4)
CONTACT HOURS : Four (4) hours weekly; 60 hours per semester
TEXTBOOK : Kieso, D., Weygandt, J., & Warfield, T,
Update). Intermediate accounting (13th ed.).
USA: John Wiley & Sons, 2010.
COURSE DESCRIPTION: The study and analysis of accounting principles and procedures
related to the adjustment entries and the recording, valorization
and asset disclosure in financial statements.
GENERAL OBJECTIVES: By the end of this course the student will:
1. Analyze and interpret financial accounting data.
2. Solve problems with topics discussed applying critical analysis to
3. Collect the information necessary to emit judgment on financial
situations using research methodology on the Internet.
4. Recognize and apply the appropriate ethical conduct for an
5. Work in teams assuming responsibilities in the analysis of
assigned case studies related to the topics of financial accounting.
SPECIFIC OBJECTIVES: Through the programmed activities, the student will:
1. Identify the generally accepted accounting principles; the
conceptual framework that guides financial accounting and
the presentation of reports through the Financial Accounting
Standards Board Codification (the Codification)
2. Recognize the need for a reliable information system, and the
analysis and identification of transactions in different
3. Analyze different entries that affect the reports for income
and expenditures, financial position, cash flow and related
4. Identify the tools and techniques used to measure present
value of future cash flows and the implications in the
presentation of financial reports.
5. Identify the problems associated with accounting, the
presentation, the valorization and the control of assets,
accounts receivable, accounts payable and inventory.
6. Recognize the convergence between U.S. GAAP and
international GAAP (International Financial Reporting
COMPETENCIES (EDUCATIONAL GOALS): The competencies (knowledge, skills &
attitudes) to be developed in the students are:
Critical Judgment Develop the capacity for creative and analytical
• Promote the development of critical thinking. Students will analyze the conceptual
thinking. basis that serves as a guide to reveal business
transactions and its impact in the double-entry
system and in the financial statements.
Students will carry out a critical analysis of case
studies and problems related to the topics of
financial accounting through group assignments.
Information technology and research Students will use the Internet to do research on
• Develop and apply technological and recent accounting pronouncements and their
research skills. impact on financial statements. They will obtain
the information from the Financial Accountants
Standard Board Codification web page:
http://asc.fasb.org . In addition, they will use
EXCEL to present assigned problems.
Ethics in the profession Students will integrate and apply ethical
principles in the fulfillment of professional
• Develop the need for ethics in duties.
professional and personal performance.
They will study the Professional Ethical Code
and evaluate various situations of ethical
The course will develop through the use of diverse teaching and assessment methods and
techniques to corroborate student learning.
Teaching Methods1 Teaching Assessment Techniques &
Expository or Discourse Lectures Debates – Question and
Method answer sessions before an
• Provide or give an Discussions exam in a competitive manner
explanation to review lessons and study
Questions & units. The purpose of these
answers assessment techniques is to
corroborate the level of
Debates for mastery of the skills and
reviewing concepts of specific lessons or
Use of questions – for review
of class lessons and assigned
Pre-test and post-test – to
evaluate student improvement
Taken from Rodríguez, D. (1999). Manual de orientación al maestro. Hato Rey, P.R: Publicaciones
Taken from Rodríguez, D. (1999). Manual de orientación al maestro. Hato Rey, P.R: Publicaciones
Taken from Rodríguez, D. (1998) Medición, “Assessment” y evaluación del aprovechamiento académico. Puerto
Rico: Publicaciones Puertorriqueñas & Vera, L. (2002). Medición, “assessment” y evaluación del aprendizaje.
Hato Rey, PR: Publicaciones Puertorriqueñas, Inc.
Listing/ Word Association –
writing of a list of the most
important terms or aspects of a
particular topic. Looks to
explore the knowledge
students have about a topic or
Immediate written reaction –
briefly summarize ideas and
concepts discussed in a class
Presentation of problems –
students will discuss the
problems assigned using
Inquiry or discovery method Critical analysis of Summary with a critical analysis
• Arouse students’ need to problems- assigned – a brief summary of a
learn to question, search for problems will be situation with guide questions
information and carry out analyzed considering that facilitate the critical
research. the impact of the analysis of the situation.
transactions in the
accounting system. Rubric - Numerical scale that
establishes criteria and standards
Analysis of situations to judge the quality of a task
related to professional carried out by students.
Reflective journal- will be
Case studies (FARS used for students to express in
Professional Research writing what they think with
Cases), including the purpose of forming and
those of ethics clarifying their ideas in regard
to the class sessions or
assigned tasks. The purpose
of this technique is to promote
the expression of ideas.
Demonstration Method Use of audiovisual
Demonstrate, do and say materials
• PowerPoint Quizzes
Demonstration – Rubric – its purpose is to
different situations verify the level of mastery of
will be analyzed and concepts and skills.
Action or Activity Method Assignments – Group dynamics – will be
• Involve students in carrying students will be used to promote cooperative
out tasks. responsible for learning. Students will have
completing the opportunity to participate
assignments. They in various teamwork tasks to
will hand in case analyze topics and areas
studies in ethics and related to the course,
assigned problems. interrelate different
The purpose is to perspectives on the areas or
develop greater topics discussed and solve
interest in studies, problems.
motive thinking and
reflection, awaken Rubric – examines the
initiative, and clarify strengths and limitations of
doubts, among diverse learning styles.
EVALUATION STRATEGIES: The course evaluation will be through:
Two (2) partial exams 200
Quizzes, special activities and case studies 100
Participation in the discussion of case studies, 100
problems and attendance
Final exam 100
GRADING SYSTEM: Grading scale or distribution is based on the standard curve.
100 - 90 A
89 - 80 B
79 - 70 C
69 - 60 D
59 - 0 F
TOPIC Chapter Academic Activities Hours
Welcome and presentation of course objectives Discussion of syllabus.
Explanation of the
I. Financial accounting and accounting standards competencies to be
developed in the
A. Presentation of financial statements: 1 course. 6
objectives, challenges & need to 4
establish standards PowerPoint
B. Parties involved in standard-setting presentation. Module
C. Generally Accepted Accounting for the codification
Principles: The Financial Accounting procedures.
Standards Board Codification (the Explanation of the
Codification) traditional conceptual
D. Issues in financial reporting framework.
II. Financial accounting’s conceptual 2
framework: need & development Analysis of its
A. Basic objectives challenges. Questions
& answers on assigned
B. Fundamental concepts exercises. Discussion
of case study and a
C. Recognition and measurement professional magazine
Search on the Internet
the changes being
sought to make the
Use a magazine article
as reference where the
is discussed. Analyze
the changes and their
III. Accounting information system 3 PowerPoint 6
A. The accounting cycle presentation to analyze
different types of
B. Reversing entry account adjustments &
their impact in the
C. Cash basis vs. accrual basis financial statements.
Prepare a critical
analysis of business
and their effect on the
alternative of using
vs. not using it.
Discussion & critical
analysis of case study
and a professional
IV. Income and expenditures report 4 Analyze the changes in 6
the presentation of
A. Components of the report, its uses scarcely used entries.
Discussion of case
B. Presentation of irregular and study to determine the
unusual items; irregular or unusual classification of the
items, changes in accounting scarcely used entries
principles and changes in estimates (Ex. Terrorists acts at
the Twin Towers in
C. Special problematic issues in the NY).
presentation: intra-period tax
allocation, earnings per share, Retained Assignment: Search in
Earnings Statement and comprehensive http://asc.fasb.org for
income. the pronouncements
Income” for analysis
and discussion. Search
for articles using the
data bases related to
the topic. Analyze a
V. Report on financial position and its 5 Analyze Balance sheet 6
relationship with the cash flow report accounts and their
A. Uses & limitations of the report classifications. Prepare
B. Classifications a list focusing on the
C. Additional information presented: types of accounts
contingencies, accounting policies, learned up until now &
contractual situations and fair the different ways of
values presenting them.
D. Presentation techniques Discussion of Case
E. Purpose & utility of cash flow Study on Ethics
IV. Accounting & the value of money 6 Discuss the concept of 2
A. Identify accounting topics where the value of money &
the value of money is relevant. its application to
B. How to use the tables of present different valorization
value situations in
C. Identify fundamental variables to accounting.
resolve problems of interest. Compare present value
D. Resolve problems of present vs. future value.
value related to differed Compare present value
annuities & bonuses of one amount with the
E. Apply the focus of expected cash present value of an
flow to measure present value. annuity.
VI. Cash, accounts receivable & accounts 7 PowerPoint 8
A. Definition Prepare a list focusing
B. Internal management & control of on all the entries
cash included in a cash
C. Presentation of cash account and its
D. Petty cash system equivalents.
E. Recognition & valorization of Discussion of a case
accounts receivable study related to the
F. Recognition & valorization of notes internal control of cash.
receivables Discuss the ways for
G. Disposition of accounts receivable
accounts receivable &
& notes receivables
H. Impairments of receivables
Discuss case study on
study to search for
VII. Valorization of inventory: Cost basis 8 Make the comparison 8
approach between inventories for
A. Basic controversies in valorization a commercial business
B. Physical assets included in the and for a
C. Assumptions of adopted cash flows business.
D. Controversies related to LIFO: Comparison between a
LIFO based on the value of money perpetual system and a
(“Dollar-Value LIFO”) periodical one.
E. Basis for the selection of an Prepare an analysis of
inventory method different situations to
determine the property
title of the inventory.
Discuss the impact of
prices in determining
the value assigned to
IX. Inventories: Other valorization controversies 9 Discussion of case 8
A. Valorization using cost or market studies & problems
value, the lesser one related to inventory
B. Basis for valorization topics.
C. Gross margin method to estimate Discussion of ethics
inventory case study
D. Retail margin method for inventory
E. LIFO - retail Present a list focusing
on the topics discussed
in the semester.
Prepare a crossword
puzzle to reinforce the
Total hours in the semester 60
COMMON PROFESSIONAL COMPONENT (CPC)
Summary of Common Professional Component (CPC) Contact Hours
1.) Functional Areas
b.) Finance 4
c.) Accounting 60
d.) Management including Production & Operations Management,
Organizational Behavior & Administration of Human Resources
2.) Business Environment
a.) Legal environment of business 2
c.) Business Ethics 4
d.) Global Dimensions of Business 4
3.) Technical Skills
a.) Information systems 6
b.) Quantitative statistics/techniques
4.) Integrative Areas
a.) Business policies (or),
a. Integrative experience that enables students to demonstrate the
ability to synthesize and apply knowledge from an organizational
Archambeault, D., & Friedl, J. (2007, October). CPAs as corporate directors [Electronic
version]. Journal of Accountancy on Line, 204 (3). Retrieved January 15, 2008, from
Bonner, P. (2007, August). A treasure trove of accountancy’s past [Electronic version].
Journal of Accountancy on Line, 204(2). Retrieved January 15, 2008, from
Fletchall, R. (2008, January). A united profession: A force for prosperity and the public
good [Electronic version]. Journal of Accountancy on Line, 205(1). Retrieved January 15,
2008, from http://www.aicpa.org/pubs/jofa/jan2008/united_profession.htm.
Lenning, J. (2007, July). Add muscle to Excel [Electronic version]. Journal of Accountancy
on Line, 204(1). Retrieved January 15, 2008, from
Miller, P., & Bahnson, P. (2007, November). Refining fair value measurement: FASB 157
upgrades the quality of financial reporting [Electronic version]. Journal of
Accountancy on Line, 204(5). Retrieved January 15, 2008, from
Morris, J. (2007). SFAS 159: The fair value option. The CPA Journal 77(8), 8-12.
Owen, K. Jr. (2007, November). Accounting for gift cards [Electronic version].
Journal of Accountancy on Line, 204(5). Retrieved January 15, 2008, from
Ratcliffe, T. (2007, December). The finer points of fair value [Electronic version].
Journal of Accountancy on Line, 204(6). Retrieved January 15, 2008, from
Epstein, B., Natch, R., & Bragg, S. (2007). GAAP 2008, Interpretation and application of
generally accepted accounting principles. New Jersey: John Wiley & Sons.
Kimmel, P., Weygandt, J., & Kieso, D. (2007). Accounting principles (8th ed.). New Jersey:
John Wiley & Sons.
Kimmel, P., Weygandt, J., & Kieso, D. (2004). Financial accounting: Tools for business
decision making (3rd ed.). New Jersey: John Wiley & Sons.
Stice, J., Stice, E., & Skousen, K.F. (2007). Intermediate accounting (16th ed.).
United States: Thomson South-Western.
ELECTRONIC DATA BASES:
The UPRB meets the conditions presented in the Americans with Disabilities Act (ADA) and Law 51
(Integrated Educational Services for the Physically Challenged) that guarantee equal access to education
and services. Physically challenged students will: INFORM their professor in each of their courses of
their special needs for reasonable accommodations in the information card given out during the first week
of classes and VISIT the University’s Physically Challenged Student Services Office (Spanish acronym
SASEIPI) as soon as possible. Confidentiality of student information will be maintained.
Additional important information students should know:
1. Every student must meet the deadlines established for the assigned work and exams. There will
be NO make up exams.
2. Plagiarism is prohibited and will be severely sanctioned according to the University rules (Refer
to the General Student’s Manual, pp. 69-72 & 77-78).
3. This syllabus is subject to continuous revision as required by the curriculum revision processes
and the professional accreditation of the Business Administration program.
Revised by: Professor Sonia Feliciano – August 2009