AIM 6333.

501 SPRING 2006

ADVANCED FINANCIAL REPORTING

ADVANCED FINANCIAL REPORTING

AIM 6333.501 SPRING 2006
Class Meeting Instructor
Monday 7:00 p.m.- 9:45 p.m., SOM 1.110 Sharmila McDonald, CPA – SOM 4.224

Office Hours: Monday 5:45 p.m. – 6:45 p.m. Email: sharmila.mcdonald@utdallas.edu

or by appointment Phone: (214) 228-3611

COURSE OBJECTIVES:
The course continues the emphasis on advanced accounting concepts and theory. Topics include accounting for
business combinations, consolidated entities, companies in financial difficulty, state and local governments, not-for-
profit organizations, and global operations including foreign currency conversion and translation of financial statements
reported in foreign currency. At the conclusion of this course, you should have thorough knowledge of the appropriate
financial statement presentation of these concepts, including the rationale behind relevant standards.
REQUIRED COURSE MATERIAL AND CAPABILITIES:
Advanced Accounting by Hoyle, Schaefer, and Doupnik, 7th Edition, McGraw Hill
(Internet access: http://highered.mcgraw-hill.com/sites/0072523514/student_view0/)
It is expected that students will have a reasonable understanding of financial accounting and a working knowledge of
Microsoft Excel. The prerequisite for this course is AIM 6332.
COURSE REQUIREMENTS & GRADING:
Attendance Policy
Advance preparation and participation in class discussions is an important part of the learning experience in this course.
There is a direct relationship between attendance at every class and successful completion of the course. Assignment
changes and announcements may be made in class, and students are responsible for these, irrespective of attendance
or nonattendance at the time of announcement. Attendance will be taken during 8 random class periods. If you are in
class when attendance is taken, 5 points will be added to your grade.
Reading Assignments and Problems
Text chapter reading assignments and homework problems are indicated on the attached schedule. Supplemental
materials may be provided as well. Chapter reading assignments should be completed in a timely manner. All efforts
will be put forward to cover each chapter in a detailed manner. However, because of the quantity of material to be
covered, an in depth study of each chapter is impossible. It is the responsibility of the student to cover any portions not
fully explained in class unless otherwise advised. Work as many of the homework problems as you can. Your problems
will not be graded. However, to receive maximum benefit from class, homework assignments should be completed soon
after the class.
Guidelines for Written Assignments
A combination of research and communication cases will be assigned. Written assignments will be due at the
beginning of class on the date assigned. The body of each written assignment should comply with the page length
guidelines specified for the assignment. The manuscript should use 11-12 point type, double-spaced, with 1” margins all
around. Number the pages and put the course number and your name at the top of each page. It is preferred that you submit
a hard copy of your paper to me at the beginning of class. However, if you submit a paper by email, the file name should
identify the course, assignment number, and your name. For example, “AIM 6333_Ch19_Analysis_JSmith.doc” would
identify John Smith’s Analysis for Chapter 19. Please note specific requirements, such as length, for each assignment
will be provided in class. Thus, class attendance is imperative because points will be taken off if the specific
requirements are not met. Late assignments will not be accepted.
Effective written and oral communications are critically important in the business world. It is equally important that
students "put their best foot forward" in classroom presentations and written assignments. Poor organization,
 AIM 6333.501 SPRING 2006
ADVANCED FINANCIAL REPORTING

Guidelines for Excel Spreadsheets

Excel spreadsheet templates are located at http://highered.mcgraw-hill.com/sites/0072523514/student_view0/. Click on
the chapter, and then click on Excel Template Assignments. Spreadsheets will be due via email before the beginning of
class on the date assigned. They must be emailed by the scheduled time. The file name should identify the course,
assignment number, and your name. For example, “AIM 6333_Ch2_Prob26_JSmith.doc” would identify John Smith’s
Problem 26 for Chapter 2. I will acknowledge the receipt of your email and will correct your work at a later time. If you
do not receive my acknowledgement, assume your email has not reached me and take the necessary steps to contact
me. Late assignments will not be accepted.
Examinations
There will be three regular closed book examinations, each covering the chapters as indicated in the course outline.
Each test is a combination of multiple choice questions, problems, and essays. Please bring a Scantron form 882-E at
each examination. No scratch paper is allowed in the examination.
Makeup exams are given only for excused absences, which may be given for verifiable medical or family emergencies.
The student must contact me regarding the excused absence prior to the exam. Written documentation must be
provided to qualify for an excused absence. Students who do not show up for an exam without making arrangements
with me prior to the exam will receive a zero, and I cannot guarantee that the level of difficulty of the makeup exam
will be comparable to the exam given at the scheduled time.

Grading

Scale (minimum values): A = 360, B = 320, C = 280, etc.

Three examinations @ 100 points each 300

Class Attendance and Participation 40
Two Research Cases @ 10 points each 20
One Communication Case @10 points 10
Three Electronic spreadsheets @ 10 points each 30
Total points 400

ACADEMIC ETHICS AND AMERICANS WITH DISABILITIES ACT COMPLIANCE:

All students are expected to behave in accordance with the academic integrity policy of The University of Texas at
Dallas. A student’s personal integrity will be essential to successfully completing this course. It is the policy of The
University of Texas at Dallas to provide reasonable accommodations for qualified individuals who are students with
disabilities. This University will adhere to all applicable Federal, State, and local laws, regulations and guidelines with
respect to providing reasonable accommodations as required to afford equal educational opportunity. It is the student’s
responsibility to contact the faculty member and/or the Service for Students with Disabilities in a timely manner to
arrange for appropriate accommodations.
 AIM 6333.501 SPRING 2006
ADVANCED FINANCIAL REPORTING

COURSE OUTLINE:

DATE CHAPTER TOPIC(S) HOMEWORK AND ASSIGNMENT(S)

1/9/06 Introduction to the course Ch.1 Problems: 1-11 , 13, 20, 23, 24
Chapter 1: The Equity Method of Accounting for Investments

1/16/06 University Holiday- No Class!

1/23/06 Chapter 2: Consolidation of Financial Information Ch.2 Problems: 11, 14-17, 19, 25, 35
Spreadsheet Assignment-
Ch. 2 Problem 26 due 1/30
1/30/06 Chapter 3: Consolidations- Subsequent to the Date of Ch.3 Problems: 3-5, 8, 12
Acquisition Spreadsheet Assignment-
Spreadsheet Assignment- Ch. 3 Problem 25 due 2/6
Ch. 2 Problem 26 due before class
2/6/06 Chapter 4: Consolidated Financial Statements and Outside Ch.4 Problems: 4, 5, 12-14, 20, 21, 28, 34
Ownership
Spreadsheet Assignment-
Ch. 3 Problem 25 due before class
2/13/06 EXAMINATION 1 (Chapters 1, 2, 3, and 4)

2/20/06 Chapter 8: Segment and Interim Reporting Ch.8 Problems: 7, 12, 13, 15, 18, 24
Ch. 8 Research Case 5 due 2/27
Chapter 12: Financial Reporting and the Securities and
Exchange Commission Ch.12 Problems: 3, 4, 5, 6, 9, 14, 18

2/27/06 Chapter 9: Foreign Currency Transactions and Hedging Ch.9 Problems: 7, 11, 12, 15-17, 23, 28
Foreign Exchange Risk
Ch. 8 Research Case 5 due before class

3/6/06 University Holiday- No Class!

3/13/06 Chapter 10: Translation of Foreign Currency Financial Ch.10 Problems: 12, 15, 21, 22, 25
Statements Spreadsheet Assignment-
Ch. 10 Problem 32 due 3/20
3/20/06 Chapter 11: Worldwide Accounting Diversity and Ch.11 Problems: 1, 3-5, 8, 14, 15, 21, 24
International Accounting Standards Ch. 11 Research Case due 4/3
Spreadsheet Assignment-
Ch. 10 Problem 32 due before class

3/27/06 EXAMINATION 2 (Chapters 8, 9, 10, 11, and 12)

4/3/06 Current Topics in Accounting- Guest Speaker

Ch. 11 Research Case due before class
4/10/06 Chapter 14: Partnerships: Formation and Operation
Chapter 15: Partnerships: Termination and Liquidation
Ch.14 Problems: 2, 4, 6, 9, 10, 20, 24
Ch. 14 Communication Cases 1 and 2
due 4/17
Ch.15 Problems: 1, 3, 4, 6, 12, 18
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ADVANCED FINANCIAL REPORTING

4/17/06 Chapter 16: Accounting for State and Local Governments Ch.16 Problems: 1, 5, 6, 7, 10, 15, 18, 27,
(part 1) 28, 32
Ch.18 Problems: 1, 2, 4, 9, 10-13, 20, 26,
Chapter 18: Accounting and Reporting for Private Not-for
31, 37
Profit Organizations
Ch. 14 Communication Cases 1 and 2 due before class
4/24/06 Chapter 13: Accounting for Legal Reorganizations and Ch.13 Problems: 2, 3, 6, 7, 11, 14, 15, 20,
Liquidations 23
Ch.19 Problems: 1, 2, 5, 8, 12-14, 17, 19,
Chapter 19: Accounting for Estates and Trusts
24, 26, 28, 34
5/1/06 EXAMINATION 3 (Chapters 13, 14, 15, 16, 18, and 19)