Advanced Financial Accounting
Curriculum guideline
Lecture and/or Seminar: 1 X 3 hours per week OR 2 X 2hrs per week
Lectures, seminars and case analysis.
All methods of instruction apply to in class, hybrid and/or online modes of learning.
- 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.
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.
Evaluation will be carried out in accordance with the Douglas College Evaluation Policy.
| Assignments/tests AND Case analysis | 30-40% |
| Midterm examination | 30-35% |
| Final examination | 30-35% |
| Total | 100% |
Students must write both the midterm examinations and the final examinations to pass 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.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
Darrell Herauf and Murray W. Hilton. Modern Advanced Accounting in Canada, latest Canadian edition. McGraw-Hill Ryerson, Toronto.
OR other textbooks as approved by the Accounting department.
Only Faculty of Commerce and Business Administration approved calculators may be used for tests and examinations.