Advanced Financial Accounting

Curriculum Guideline

Effective Date:
Course Code
ACCT 4510
Advanced Financial Accounting
Commerce & Business Administration
Start Date
End Term
Semester Length
15 Weeks
Max Class Size
Course Designation
Industry Designation
Contact Hours

In person: Lecture and/or Seminar: 1 X 3 hours per week OR 2 X 2hrs per week


Hybrid: minimum 50% in person and up to 50% online


Online: Synchronous and/or Asynchronous

Method(s) Of Instruction
Learning Activities

Lectures, seminars and group discussions.

All methods of instruction apply to in class, hybrid and/or online modes of learning.

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

The course evaluation is consistent with the Douglas College Evaluation Policy.

Assignments/cases/tests          30-40%
Midterm examination  30-35%
Final examination  30-35%

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.

Textbook Materials

Darrell Herauf and Murray W. Hilton. Modern Advanced Accounting in Canada, latest Canadian edition. McGraw-Hill Ryerson, Toronto.

Alternative course materials and/or textbooks approved by the department.

Only Faculty of Commerce and Business Administration approved calculators may be used for tests and examinations.


(ACCT 3310 with a grade of “C” or better, AND ACCT 3410 with a grade of “C” or better)


(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)