Advanced Financial Accounting

Curriculum guideline

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Course
ACCT 4510
Discontinued
No
Course code
ACCT 4510
Descriptive
Advanced Financial Accounting
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
202030
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
  1. Review of financial reporting theory.
  2. Changing process and financial reporting.
  3. Not-for-profit organizations.
  4. Intercorporate investments and business combinations.
  5. Advanced consolidations.
  6. Foreign currency transactions and translations.
  7. Segmented information.
  8. Joint ventures.
Learning outcomes

At the end of the course, the successful student should be able to:

  1. translate a foreign subsidiary’s financial statements into Canadian dollars in accordance with generally accepted accounting principles (GAAP);
  2. prepare consolidated financial statements in accordance with GAAP for corporations with subsidiaries, joint ventures and foreign operations;
  3. record and report foreign currency transactions, including hedging transactions;
  4. prepare financial statements for not-for-profit organizations in accordance with GAAP;
  5. explain the accounting issues relating to segmented reporting;
  6. 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.

To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.

Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.

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

Prerequisites

ACCT 3310 with a grade of “C” or better, AND ACCT 3410 with a grade of “C” or better
OR ACCT 3310 with a grade of “C” or better AND currently active in the PDD Accounting or PDD Accounting Studies or PBD Accounting or PBD Accounting & Finance

Corequisites

Courses listed here must be completed either prior to or simultaneously with this course:

  • No corequisite courses
Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses