Curriculum Guideline

Intermediate Accounting II

Effective Date:
Course
Discontinued
No
Course Code
ACCT 3410
Descriptive
Intermediate Accounting II
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
202030
PLAR
No
Semester Length
15 Weeks X 4 Hrs. per week = 60 Hrs.
Max Class Size
35
Contact Hours
Lecture: 4 Hrs.
Method Of Instruction
Lecture
Methods Of Instruction

Lectures and demonstration.

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 of the CICA Handbook - Accounting (IFRS). 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.
Course Content

Part 1 of the CICA Handbook - Accounting (IFRS) will be used to illustrate the evolving nature of accounting standards versus the static nature of the textbook. 

  1. Current Liabilities and Contingencies
  2. Non-current Financial Liabilities
  3. Shareholders’ Equity
  4. Complex Financial Instruments
  5. Earnings per Share
  6. Accounting for Income Taxes
  7. Pensions and Other Employee Future Benefits
  8. Accounting for Leases
  9. Accounting Changes and Error Analysis
  10. Other Measurement and Disclosure Issues
  11. Preparation of a report that analyzes specific aspects of the annual report of a Canadian company that is listed on the Toronto Stock Exchange. To maintain academic integrity, a company once used cannot be reused for at least six semesters (two years).
Learning Outcomes

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

  1. Describe the conceptual framework and its impact on accounting principles and practices;
  2. Analyze and record complex situations in accounting for current and non-current liabilities;
  3. Analyze and record complex issues related to the accounting for equity;
  4. Account for errors and changes in accounting policy; and
  5. Integrate accounting theory, financial statement analysis, financial statement format and disclosure requirements in accordance with Part I of the CICA Handbook – Accounting (IFRS)

 

Means of Assessment
Annual Report Project  10%
Assignments and/or quizzes  20%
Midterm exam  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(s) and the final exam.
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, 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

Prerequisites

(ACCT 1210 with a grade of C or better OR 

ACCT 1235 with a grade of C or better) 

OR currently active in the PDD Accounting 

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
Which Prerequisite