Course
Discontinued
No
Course Code
ACCT 4510
Descriptive
Advanced Financial Accounting
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201920
PLAR
No
Semester Length
15 weeks X 4 hours per week = 60 Hours
Max Class Size
30
Contact Hours
Lecture: 4 hours per week
Method(s) Of Instruction
Lecture
Learning Activities
Lectures and group discussions.
Course Description
This course will cover advanced accounting topics including current issues in financial reporting, intercorporate investments and business combinations, foreign operations, not-for-profit organizations, segmented information, and joint ventures.
Course Content
- Review of financial reporting theory.
- Changing process and financial reporting.
- Not-for-profit organizations.
- Intercorporate investments and business combinations.
- Advanced consolidations.
- Foreign currency transactions and translations.
- Segmented information.
- Joint ventures.
Learning Outcomes
At the end of the course, the successful student should be able to:
- translate a foreign subsidiary’s financial statements into Canadian dollars in accordance with generally accepted accounting principles (GAAP);
- prepare consolidated financial statements in accordance with GAAP for corporations with subsidiaries, joint ventures and foreign operations;
- record and report foreign currency transactions, including hedging transactions;
- prepare financial statements for not-for-profit organizations in accordance with GAAP;
- explain the accounting issues relating to segmented reporting;
- demonstrate awareness of ethical and professional standards and responsibilities of financial management professionals.
Means of Assessment
| Assignments/cases/tests | 30-40% |
| Midterm examination | 30-35% |
| Final examination | 30-35% |
| 100% |
STUDENTS MUST WRITE BOTH THE MIDTERM EXAMINATION AND THE FINAL EXAMINATION TO OBTAIN CREDIT FOR THE COURSE.
Textbook Materials
Textbooks and Materials to be Purchased by Students
Murray W. Hilton. Modern Advanced Accounting in Canada, latest Canadian edition. McGraw-Hill Ryerson, Toronto, or equivalent.
Instructor compiled materials (if applicable)
Only Faculty of Commerce and Business approved calculators may be used for tests and examinations