Intermediate Accounting II

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Abstract

ELS Poster Session AAA Northeast Conference
Intermediate Accounting II Course – Basic Description
University of Hartford
Donald A. May CPA, MST


This course is the 2nd section of a three section Intermediate Accounting course in the University of Hartford Barney School of Business. I will get into the details of a particular chapter topic, usually one that is a bit more complicated for students to grasp the concepts of. For this topic, for example impairment of a fixed asset, I will develop a basic case designed around the content in the chapter and the accounting codification standards surrounding impairment of a fixed or other non-current asset. I assigned the students to read and discuss the ASC’s around the case for when we meet in out next class.

During that next class, we discuss the basic case and ASC’s surrounding it. I then have another case ready which has more complex components or wrinkles than the basic case, and we navigate through those wrinkles together. I have a publicly held corporation’s set of financial statements ready to bring up on the board that has these more complex issues, we address the presentation of those complex issues on the face of the balance sheet, the reporting of the effects of the impairment on the income statement, statement of cash flows, and how to disclose the matter in the notes to financial statements. The students complete a financial statement disclosure checklist to make sure what is required for Generally Accepted Accounting Principles is present on the balance sheet, income statement, and notes to financial statements.

I also locate past CPA exam questions on the topic area and we go over them in class. I also briefly discuss any IFRS differences in treatment of the particular topic. I am considering bringing in audit work programs around the topic areas as well so that auditing starts to become part of what the students should be considering with the topics I cover in the course.

Author

• Donald May, University of Hartford