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.
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.
- Current Liabilities and Contingencies
- Non-current Financial Liabilities
- Shareholders’ Equity
- Complex Financial Instruments
- Earnings per Share
- Accounting for Income Taxes
- Pensions and Other Employee Future Benefits
- Accounting for Leases
- Accounting Changes and Error Analysis
- Other Measurement and Disclosure Issues
- 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).
Methods of Instruction
Lectures and demonstration.
Means of Assessment
|Annual Report Project
|Assignments and/or quizzes
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.
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 the 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 of the CICA Handbook – Accounting (IFRS)
(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
Courses listed here must be completed either prior to or simultaneously with this course:
Courses listed here are equivalent to this course and cannot be taken for further credit:
Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester/year of the course, consider the previous version as the applicable version.
Below shows how this course and its credits transfer within the BC transfer system.
A course is considered university-transferable (UT) if it transfers to at least one of the five research universities in British Columbia: University of British Columbia; University of British Columbia-Okanagan; Simon Fraser University; University of Victoria; and the University of Northern British Columbia.
For more information on transfer visit the BC Transfer Guide and BCCAT websites.
If your course prerequisites indicate that you need an assessment, please see our Assessment page for more information.