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Department of Business

ACCT 4220

ADVANCED FINANCIAL ACCOUNTING Fall 2013

___________________________________________________________________________________ Instructor: Sara Wick sarawick@uoguelph.ca Office Hours: Monday 4pm – 6pm (or by appointment) Class Times and Location: Section 01 Section 02 Tuesday & Thursday 4:00 – 5:20 Tuesday & Thursday 8:30 – 9:50 THRN 1307 MACS 209 Course Description and Objectives: The Advanced Financial Accounting course focuses on issues and problems associated with business combinations, long-term intercorporate investments, foreign operations and accounting for not-for-profit organizations. There is a strong emphasis on applying this body of knowledge through practical problems. Advanced financial accounting is a required course for those seeking a professional accounting designation and is recognized by the CA, CMA and CGA professional accounting associations. The objectives of this course are to help you:

• Learn and apply advanced accounting treatments for investments, foreign currency transactions, and not-for-profit organizations

• Integrate this knowledge and apply it to deal with complex financial reporting issues • Synthesize this knowledge to be able to develop appropriate recommendations for situations

requiring professional judgment Course Materials and Resources: The required textbook is:

Modern Advanced Accounting in Canada, 7th Edition by Hilton/Herauf. A Courselink page has been set up for this course (https://courselink.uoguelph.ca). All announcements, assignments solutions, practice problems and course updates will be posted here. Check this site often.

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On-Line Communication: If I need to contact you by e-mail, I will do so through your University of Guelph e-mail account. You are responsible for monitoring e-mail posted to your University of Guelph e-mail account on a regular basis. Course Approach: You are responsible for reading the required material prior to class, typically chapters from the text. It is expected that in addition to reading each assigned chapter you will have worked through the SELF-STUDY PROBLEM found at the end of each assigned chapter. Some practice problems will be made available on Courselink. It is expected that you will have worked through all practice problems posted there. Finally, solutions to in-class problems are not provided – if you must miss a class, you are still responsible for the material covered in that class. Course Schedule: CLASS  #   DAY   DATE   Chapter   Other  

1   THUR   SEPT  5   Course  overview/Chapter  2      

2   TUES   10   Chapter  2      3   THUR   12   Chapter  3      

4   TUES   17   Chapter  3/4      

5   THUR   19   Chapter  4    6   TUES   24   Chapter  5      

7   THUR   26   Chapter  5      8   TUES   OCT  1   Exam  1   Exam  1  

9   THUR   3   Chapter  6      

10   TUES   8   Chapter  6      11   THUR   10   Chapter  7A      

12   TUES   15   Chapter  7A      13   THUR   17   Chapter  8  

 14   TUES   22   Chapter  8      15   THUR   24   Chapter  9      

16   TUES   31   Chapter  9      

17   THUR   NOV  5   Exam  2   Exam  2  18   TUES   7   Chapter  10      

19   THUR   12   Chapter  10      20   TUES   14   Chapter  11  

 21   THUR   19   Chapter  11      

22   TUES   21   Chapter  12      23   THURS   26   Chapter  12      

24   TUES   28    Review         Note: The schedule of learning activities could change. Any changes will be announced in class and/or on the Courselink site.

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Method and Timing of Evaluation: Evaluation will be based on the following:

Assignment/Examination Date Marks allocated

Participation Throughout 10 Term Exam # 1 Oct 1 25 Term Exam # 2 Nov 5 25 Final examination Dec 7 (7pm) 40

Participation The participation in this course will begin during the third week of class. You will be organized into a group on courselink and will be required to take part in a discussion regarding a current event/ethical dilemma/business problem that relates to business combinations. You will be graded on both your quantity of participation, but also (and more importantly) your quality of participation. Term Exams Term exam 1 will cover the material from chapters 2 to 5. Term exam 2 will concentrate on material from chapter 6 through 9, but knowing earlier material is necessary to successfully apply the concepts presented in these chapters. Students should bring pens and calculators to the exam. No other items are permitted (i.e. using a cell phone as a calculator is not permitted).

please note: There are no deferred or make-up term exams. If you are unable to attend an exam for a legitimate reason, with approval from the instructor the marks may be assigned to the final exam.

Final Exam The final exam is a comprehensive exam. You are responsible for all of the material covered in the course. If you are registered with the Centre for Students with Disabilities and will require some form of accommodation in the completion of the required learning activities for this course, please meet with me during the first week of classes. Keep a copy of all of your graded work until final marks have been recorded. You may be asked to resubmit your work at any time.

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Academic Regulations and Procedures All students are expected to abide by the University’s academic regulations in the completion of their academic work, as set out in the undergraduate calendar (see http://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/index.shtml). Some regulations are highlighted below: Academic Load: Students should note that 10 to 12 hours of academic time and effort per week (including classes) are expected for a 0.50 credit course (see http://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-aload.shtml) Academic Misconduct: The University of Guelph is committed to upholding the highest standards of academic integrity and directs all members of the University community – faculty, staff and students – to be aware of what constitutes academic misconduct and to do as much as possible to prevent academic offences from occurring. The University of Guelph takes a serious view of academic misconduct and it is your responsibility as a student to be aware of and to abide by the University’s policy. Included in the definition of academic misconduct are such activities as cheating on examinations, plagiarism, misrepresentation, and submitting the same material in two different courses without written permission. To better understand your responsibilities, read the Undergraduate Calendar at: http://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-amisconduct.shtml You are also advised to make use of the resources available through the Learning Commons (http://www.learningcommons.uoguelph.ca/) and to discuss any questions you may have with your course instructor, teaching assistant, Academic Advisor or Academic Counsellor. Students should be aware that faculty have the right to use software to aid in the detection of plagiarism or copying and to examine students orally on submitted work. For students found guilty of academic misconduct, serious penalties, up to and including suspension or expulsion from the University can be imposed. Academic Consideration: Students who find themselves unable to meet course requirements by the deadline or criteria expected because of medical, psychological or compassionate circumstances beyond their control, should review the regulations on Academic Consideration in the Undergraduate Calendar (http://www.uoguelph.ca/undergrad_calendar/c08/c08-ac.shtml) and discuss their situation with the instructor, Program Counsellor or Academic Advisor as appropriate. Religious Holidays: Should a student need to miss scheduled tests, mid-term examinations, final examinations, or requirements to attend classes and participate in laboratories for religious reasons, please advise the instructor within two weeks of the distribution of this course outline so that alternate arrangements can be made. For further information see http://www.uoguelph.ca/registrar/calendars/undergraduate/current/c08/c08-accomrelig.shtml