ACCT 310 (MRU ACCT 4381) Course Outline Advanced Financial ...

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  • ACCT 310 (MRU ACCT 4381)

    Course Outline Advanced Financial Accounting

    Winter 2016 INSTRUCTOR OFFICE PHONE EMAIL Randy Nicholls 420 403-342-3125

    CLASS TIMES Section Day Time Room A Wednesday & Friday 1:00 2:50 309 OFFICE HOURS Tuesday &

    Wednesday 10:00 noon 420


    ACADEMIC CALENDAR ENTRY This is a senior level course in financial accounting, which covers the following areas: intercompany investments, joint ventures, accounting for not-for-profit organizations, and translation of foreign currency transactions and financial statements. PREREQUISITES ACCT 210 or consent of the Donald School of Business COURSE TOPICS See Tentative Timetable LEARNING ACTIVITIES Teaching in this course is comprised of lectures, in-class exercises and activities and regular assignments. Students can expect to engage in small group work at times during components of the course. TRANSFER AGREEMENTS Formal transfer agreements between Red Deer College and other Alberta universities and colleges are found at LEARNING OUTCOMES The objectives of this course are to help you:

    ACCT 310 Advanced Financial Accounting Course Outline Red Deer College Page 1 of 6


  • 1. Apply business combination accounting policies to properly address issues such as acquisitions, intercompany transfers, partial ownership and reverse takeovers.

    2. Apply foreign currency accounting policies to properly address issues related to foreign currency transactions, hedging and the translation and consolidation of foreign operations.

    3. Account for Investments in Equity Securities (review from ACCT209).

    4. Compare accounting policies for not-for-profit and public sector organizations to IFRS and


    5. Demonstrate an understanding of international accounting standards and how recent developments effect GAAP in Canada.

    REQUIRED TEXTBOOKS AND EQUIPMENT Hilton and Herauf; Modern Advanced Financial Accounting in Canada; 7th Edition, McGraw-Hill Ryerson Many assignments and practice exercises will be completed in Mcgraw-Hill Connect; an on-line tool that supplements the Required Textbook. Students are not required to purchase Connect but it is recommended to have access to the on-line resource. REMIND / DSB Information & Events Remind is a system designed to alert students of emergencies and important notices at the Donald School of Business via text message. All students are encouraged to register their cell phone number by sending the message @dsbs to (587) 333-2775. Please note that your information is kept confidential and will not be distributed for any other use. The DSB Information & Events channel is located in Blackboard under My Organizations, and houses information about the Donald School of Business such as employer spotlights, job opportunities, and other important information and events. All DSB students are encouraged to self-enroll by visiting: COURSE REQUIREMENTS 1. Attendance and Class Participation

    Regular attendance is recommended. This course requires extensive practical application of concepts which will be applied in class. Class time may, on occasion, also be provided for the completion of graded assignments. Lab time is primarily devoted to individual course work with available instructor support and limited lectures on common issues.

    2. Class Environment Students are expected to assist in creating a positive learning environment by participating in discussions and not engaging in behaviors that may detract from the learning environment for other students (i.e. using cell phones and other disruptions).

    3. General Students who are encountering difficulty with the course are urged to contact the instructor at once.

    ACCT 310 Advanced Financial Accounting Course Outline Red Deer College Page 2 of 6

  • 4. Students should ensure that they are familiar with Red Deer Colleges Student and Academic Standard Practices and Policies as well as the key dates in the Academic Schedule.

    BLACKBOARD Supplementary materials are available on the Blackboard site for this course. It is important to check this site frequently for updates. All assignments will be posted on Blackboard, as will class notes, in-class exercises and other materials. ASSESSMENT OF STUDENT PERFORMANCE

    Component Weight Midterm exams (2 @ 25% each) 50% Assignments (Chapters 1 & 8) 10% Final exam 40%

    Exams will focus on application of concepts through short and medium length problems. There will also be lesser components that are assessed via multiple choice questions and written responses.

    GRADING SYSTEM As this is a co-listed course with Mount Royal University (ACCT 4381), final grades will be reported by a letter grade corresponding to the percentage equivalents per their policy and as listed below:

    Percentages Letter Grade

    4.0 Scale Description

    95-100 85-94 80-84

    A+ A A-

    4.00 4.00 3.70

    Excellent. Superior performance, showing comprehensive understanding of subject matter.

    77-79 73-76 70-72

    B+ B B-

    3.30 3.00 2.70

    Good. Clearly above average performance with knowledge of subject matter generally complete.

    67-69 63-66 60-62

    C+ C C-

    2.30 2.00 1.70

    Satisfactory. Basic understanding of subject matter

    55-59 50-54

    D+ D

    1.30 1.00

    Marginal performance. (Generally insufficient preparation for subsequent courses. Insufficient for recognition as a CPA Prerequisite.)

    0-49 F 0.00 Fail. Assigned to students: a) who do not meet the academic requirements of

    the course, or b) who cease to continue in the course, but do not

    withdraw as per Red Deer College policy.

    1) Homework and Assignments

    Students are expected to have read in advance the material to be taken up in class, and to have completed all assigned homework.

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  • Students are expected to satisfactorily complete all assignments on time. Late assignments will be accepted with a 50% penalty. No assignments will be accepted after the final day of classes. Failure to submit an assignment will result in a mark of zero.

    2) Examinations

    Any student missing an exam without having made arrangements with the instructor prior to the exam will receive a grade of zero for that exam.

    MIDTERM FEEDBACK Midterm feedback for this course will be available from the instructor following marking of the midterm examinations. After reviewing their marks to this point, students should make an appointment with the instructor to discuss their progress and any concerns. The instructor is also available prior to this in designated office hours if students have any concerns. Please see Important Dates below. RDC FINAL EXAMINATION POLICY The RDC Final Examination Policy will be followed with respect to Final Examinations. Please review this document to ensure you understand the contents and implications of the policy at SUPPLEMENTARY EXAMS Supplemental exam privileges are not available to students in the third or fourth year of the MRU BBA program. Students who take this course in the first two years are subject to RDCs supplementary exam privileges. ACADEMIC MISCONDUCT Please become familiar with what constitutes academic misconduct, as well as the consequences. Plagiarism involves submitting work in a course as if it were the students own work. Plagiarism may involve the act of submitting work in which some or all of the phrasing, ideas, or line of reasoning are alleged to be the submitters own but in fact were created by someone else. The complete list of RDC academic policies is available at CHANGES TO THE COURSE OUTLINE Changes to the course outline will be made with the consent of the course instructor and students. Changes will be reviewed by the Associate Dean for consistency with College policies. IMPORTANT DATES

    January 5 Last day to pay fees for Winter Term January 13 Last day to have tuition refunded for Winter Term courses January 13 Last day to register or add/drop Winter Term courses February 15 Family Day College Closed February 16 19 Mid-term Break March 1 Emergency Response Day March 7 Mid-term Feedback date

    ACCT 310 Advanced Financial Accounting Course Outline Red Deer College Page 4 of 6

  • March 14 Final exam schedule posted March 25 Good Friday College Closed April 11 Last day to withdraw from Winter Term courses and receive a WD April 11 Last day of classes for Full year and Winter Term courses April 16 22 Final Exams students are expected to be available during this time period April 30 Final grades available for Winter Term

    This course may be eligible for Prior Learning Assessment. Students should refer to the RDC Course Calendar for a list of excluded courses. A plagiarism detection tool is used in this course. Classroom Learning Resources may be available to students in alternative formats. Students should be aware that Personal Counselling, Career, Learning and Disability Services are provided by RDC. Inquire about locations at Information Desk. It is the students responsibility to discuss their specific learning needs with the appropriate service provider. It is the students responsibility to be familiar with the information contained in the Course Outline and to clarify any areas of concern with the instructor. Students should refer to the Appeals; Formal Policy, Appeals: Informal Resolution Policy and Student Misconduct: Academic and Non-Academic Policy should questions or concerns about the Course Outline not be resolved directly with the instructor. Approved by:

    Associate Dean

    December 21, 2015

    Signature Date

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  • The Tentative Timetable for the course is tentative, but it is critical for inclusion as it is used extensively by our transfer partners in assessing the transferability of a course. In addition course timelines are required in course outlines as per RDCs Course Outline policy.

    TENTATIVE TIMETABLE Week Topic Activities/Readings

    January 4 Equity Investments Chapter 2 January 11 Business Combinations Chapter 3 January 18 Consolidated Financial

    Statements on Acquisition Date Chapter 4

    January 25 Chapter 4 continued Review

    Chapter 4

    February 1 MIDTERM 1 on Feb 3 Consolidated Statements after Acquisition

    Chapter 5

    February 8 Chapter 5 continued Intercompany Inventory and Land Profits

    Chapters 5 & 6

    February 22 Chapter 6 continued Intercompany Profits in Depreciable Assets

    Chapters 6 & 7

    February 29 Intercompany Profits in Depreciable Assets Review

    Chapter 7

    March 7 MIDTERM 2 Mar 9 Other Reporting Issues

    Chapter 9

    March 14 Other Reporting Issues continued Foreign Currency Transactions

    Chapter 9 & 10

    March 21 Foreign Currency Transactions continued Translation and Consolidation of Foreign Operations

    Chapter 10 & 11

    March 28 Translation and Consolidation of Foreign Operations continued Non-Profit Organizations and Government Reporting

    Chapter 11 & 12

    April 4 Non-Profit Organizations and Government Reporting continued Review

    Chapter 12

    Final Exam Comprehensive As scheduled by the Registrar

    ACCT 310 Course Outline Red Deer College Page 6 of 6

    ACCT 310 (MRU ACCT 4381)Course OutlineAdvanced Financial AccountingWinter 2016TENTATIVE TIMETABLEActivities/ReadingsTopicWeek


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