BUS 492 Advanced Financial Accounting covers a selected group of advanced financial accounting topics including accounting for business combinations, foreign currency transactions and translations, in addition to accounting for not-for-profit and public sector organizations.
Prerequisites: ADMN 251 or BUS 351 with a minimum grade of 64%
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 15 |
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| Total Credits | |
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| Total Hours | 60 |
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Typical hours per week breakdown| Lecture | 4 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- Account for business combinations
- Evaluate intercompany transactions
- Prepare consolidated financial statements
- Summarize consolidation reporting issues
- Analyze foreign-currency transactions
- Summarize the translation and consolidation of foreign operations
- Explain accounting rules regarding not-for-profit and public sector organizations
Teaching and Learning Approach
This course uses a number of approaches, including lectures, in-class problems, small group discussions, case
studies and computerized problem solving.Learning Resources
Required:
th
Hilton, M.W., & Herauf, D. (2022). Modern Advanced Accounting in Canada (10 ed.) Toronto, ON: McGraw-Hill
Ryerson. ISBN-13: 978-1260-881295 with McGraw-Hill Connect
· TI BA11 Plus Calculator
· Windows based computer with webcam, speakers and microphone
· High speed internet accessDetailed Course Content, Topics, and Sequence Covered
1. Conceptual and Case Analysis Framework for Financial Reporting
2. Investments in Equity Securities
3. Business Combinations
4. Consolidation of Non-wholly Owned Subsidiaries
5. Consolidation Subsequent to Acquisition Date
6. Intercompany Inventory and Land Profits
7. A) Intercompany Profits in Depreciable Assets; (B) Intercompany Bondholdings
8. MID TERM
9. Ch. 8 Consolidated Cash Flows and Changes in Ownership
10. Ch. 9 Other Consolidation Reporting Issues
11. Ch. 10 Foreign-currency Transactions
12. Ch. 11 Translation and Consolidation of Foreign Operations Data Analytics - CPA IT case study and CPA Big Data Case.
13. Ch. 12 Accounting for Not-For-Profit and Public Sector Organizations Data Analytics - CPA IT case study and CPA Big Data Case.
14. Final exam review
15. FINAL EXAMAssessment
| Title | Learning Outcomes | Value |
|---|
| Group work | 1,2,3,4,5,6,7 | 20% |
| Data Analytics CPA case studies | 1,2,3,4,5,6,7 | 10% |
| Mid-term Exam | 1,2,3,4 | 35% |
| Final Exam | 5,6,7 | 35% |
| Total | 100% |
Grading Table
Standard Academic and Career Programs Grading Table
| Percentage |
Letter Grade |
GPA |
| 90-100 |
A+ |
4.33 |
| 85-89 |
A |
4.00 |
| 80-84 |
A- |
3.67 |
| 76-79 |
B+ |
3.33 |
| 72-75 |
B |
3.00 |
| 68-71 |
B- |
2.67 |
| 64-67 |
C+ |
2.33 |
| 60-63 |
C |
2.00 |
| 55-59 |
C- |
1.67 |
| 50-54 |
P |
1.00 |
| 0-49 |
F |
0.00 |
| |
DNW |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.