Course Description
This course builds on the foundation of accounting techniques and theory covered in Accounting 1110 and 1210, or Accounting 1235. The focus will be an in-depth study of liabilities and shareholders’ equity as governed by Part I & Part II of the CPA Canada Handbook. Topics will include: accounting for current and non-current liabilities and complex financial instruments; computation of earnings per share; accounting for pension costs, income taxes and leases; and accounting for errors and changes in accounting policy. The conceptual framework for financial reporting will also be studied. The course includes a major group project, which requires the analysis of the annual report of a Canadian company listed on the Toronto Stock Exchange.
Learning Activities
Lectures and demonstration.
Means of Assessment
The course evaluation is consistent with the Douglas College Evaluation Policy.
| Annual Report Project |
10% |
| Assignments and/or quizzes |
20% |
| Midterm Examination |
35% |
| Final Examination |
35% |
| |
100% |
Midterm and final exam questions will be of the rigor found in professional accounting bodies’ examinations.
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 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.
Learning Outcomes
By the end of the course, the successful student should be able to:
- Describe the conceptual framework and its impact on accounting principles and practices;
- Analyze and record complex situations in accounting for current and non-current liabilities;
- Analyze and record complex issues related to accounting for equity;
- Account for errors and changes in accounting policy; and
- Integrate accounting theory, financial statement analysis, financial statement format and disclosure requirements in accordance with Part I & Part II of the CPA Canada Handbook.
Textbook Materials
Lo Fisher. Intermediate Accounting Volume II, Latest Edition. Pearson Canada.; or, Kieso et al. Intermediate
AccountingVolume II, Latest Edition. John Wiley and Sons.; or, other textbooks as approved by the
department.
Instructor compiled materials (if applicable).
Only Faculty of Commerce and Business approved calculators may be used for tests and examinations
Lo Fisher. Intermediate Accounting Volume II, Latest Edition. Pearson Canada; or, other textbooks as approved by the department
Instructor compiled materials (if applicable)
Only Faculty of Commerce and Business Administration approved calculators may be used for tests and examinations