ACC Advanced Financial Accounting Course Outline A01

Size: px

Start display at page:

Download "ACC Advanced Financial Accounting Course Outline A01"

Garey Lyons
6 years ago
Views:

1 University of Manitoba I.H. Asper School of Business Department of Accounting and Finance ACC Advanced Financial Accounting Course Outline A01 Fall 2013 Instructor: Office: Gayle Callis, MBA, CGA 374 Drake Phone #: Office Hours: Tuesdays 11:00 a.m. - noon or by appointment OR: Gayle.Callis@umanitoba.ca To access course website use the address to log on. Then click the ACC3030 course title. Course Objectives The course builds on technical skills and conceptual understanding developed in earlier courses, particularly ACC 2010 and ACC Its primary focus is on accounting for long-term intercorporate investments, particularly methods of consolidation accounting; but there is also coverage of accounting for foreign currency transactions and accounting for non-for-profit organizations. At the conclusion of this course you will be expected to have developed: 1. technical and procedural skills required to deal with the topics listed above; 2. the ability to apply conceptual principles when selecting appropriate accounting policies in different circumstances; and 3. the ability to assess a situation, identify issues and alternatives, and formulate recommendations using professional judgment. 1 Page

2 Required Text Hilton and Herauf, 2013, Modern Advanced Accounting in Canada (7 th edition) published by McGraw-Hill Ryerson Ltd. Canada. ISBN -10: X. The Connect code needs to be purchased separately. Information on accessing Connect for this course will be posted on the course website. CICA Handbook and IFRS, made available on The University of Manitoba Libraries Website by Canadian Institute of Chartered Accountants, see below for accessing such data. The CICA Handbook on the University of Manitoba Libraries Website The CICA Handbook is available in electronic format on the University of Manitoba Libraries website. To access the Handbook: 1. From the University of Manitoba homepage (umanitoba.ca), click on LIBRARIES under RESOURCES block. 2. Click on ARTICLES & DATABASES under FIND block. 3. You should see the page ARTICLES & DATABASES A-Z (A). Click on C. Scroll down to click on 2 to see CICA STANDARDS & GUIDANCE COLLECTION listed as the 2 nd item. 4. Click on CICA STANDARDS & GUIDANCE COLLECTION. 5. You will then have to enter your Library ID and PIN (if you do not know your Library ID and/or PIN, there is a link on this page that will help you) and click on Login. 6. On the Knotia.ca page, click on CICA Standards & Guidance Collection. 7. The most efficient way to access a particular section in the Handbook is to enter the section number in the Fetch box on the left-hand side of the screen and click on Go. The Handbook is accessible on campus or from off-campus with an internet connection. The CICA Handbook subscription is provided by the Institute of Chartered Accountants of Manitoba. Conduct of the Course The course will be conducted principally as a lecture-style class, with some in-class discussion and activities involving the application of accounting principles. Readings, as indicated in the tentative class schedule below, have been selected and assigned for each topic covered in the course. Assignments will be created for practice and course credit on econnect. There will be 10 assignments and a 1% course credit will be given for each assignment completed by midnight of the due date listed below. I will be using the student results on the assignments to gauge the class progress and will review sample problems and materials in class based on assignment results. The readings will be most effective if completed prior to class. Solutions for problems and cases from the textbook will be available in class or through the course website. 2 Page

3 Allocation of Grades Assignments: Due midnight on day specified class schedule 10% Midterm Examination One: Monday October 7, pm-10pm 20% Midterm Examination Two: Monday November 18, pm-10pm 25% Final Examination: To be determined by the Registrar s Office 45% Midterm Examination and Bonus Marks Examinations 100% For any examination, each student will be allowed to bring calculators (non-programmable and without text storage capacity), erasers, pens and pencils. No other materials will be permitted. Conflicts with employers do not qualify as legitimate reasons to miss any examination. A grade of zero will be given to a missed midterm examination or in-class assignment without a legitimate reason. Students who miss either a midterm examination or an in-class assignment for a legitimate reason (medical, compassionate, academic conflict or university sports team travel) should inform me with suitable documentation within 5 days of the missed examination to have the weight of the missed midterm added to the final examination. In order to obtain an excused medical absence for an exam, the student must obtain a doctor s certification that the student s condition is severe enough to prevent the student from taking the exam or test. It is recommended that the student ask the doctor filled out the Medical Absenteeism Form attached to this course outline as the suitable documentation for an excused medical absence. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor s office. Students who miss the final examination must apply to the Undergraduate Program Office in their faculty for possible deferred examination privileges. Successful applicants will be informed the time and location of the deferred final examination at time of application. In order to obtain an excused medical absence for a test or midterm exam, the student must obtain a doctor s certification that the student s condition is severe enough to prevent the student from taking the exam or test. It is recommended that the student ask the doctor to fill out the Medical Absenteeism Form attached to the course outline as suitable documentation for an excused medical absence. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor s office. Bonus Marks Additional questions may be distributed or assigned in class for extra marks toward your course grade, to a maximum of 5 points. 3 Page

4 Tentative Class Schedule Note that end-of chapter suggested questions and solutions will be provided on D2L. These are for practice and not to be handed in. Date Topic Readings Sept 9 Course Introduction & Financial Instruments Chp 2 Sept 11 Financial Instruments Chp 2 Sept 15 Assignment Chapter 2 due Sept 16 Intercorporate Investments Chp 3 Sept 18 Intercorporate Investments Chp 3 Sept 22 Assignment Chapter 3 due Sept 23 Consolidation on Date of Acquisition Chp 4 Sept 25 Consolidation on Date of Acquisition Chp 4 Sept 29 Assignment Chapter 4 due Sept 30 Consolidation subsequent to acquisition Chp 5 Oct 2 Consolidation subsequent to acquisition Chp 5 Oct 5 Assignment Chapter 5 due (Note: Saturday due date) Oct 7 No Class - Midterm 1 7 pm- 10 pm Chapters 2-5 Oct 9 Oct 14 Oct 16 Oct 20 Oct 21 Oct 23 Oct 28 Oct 30 Nov 3 Intercompany Transactions No Class - Thanksgiving Intercompany Transactions Assignment Chapter 6 and 7A due Intercompany Transactions Ownership Issues Ownership Issues Ownership Issues Assignment Chapter 8 due Chp 6 and 7A (omit 7B) Chp 6 and 7A (omit 7B) Chp 6 and 7A (omit 7B) Chp 8 (omit Pages ) Chp 8 (omit Pages ) Chp 8 (omit Pages ) Nov 4 Other Reporting Issues (awareness level only) Chp 9 (omit DIT pages ) Nov 6 Foreign currency translation and hedge accounting Chp 10 Nov 11 No Class Remembrance Day Nov 13 Foreign currency translation and hedge accounting Chp 10 Nov 16 Assignment Chapter 10 due (Note: Saturday due date) Nov 18 No Class Midterm 2 7 pm- 10 pm Chapters 2-10 Nov 20 Translation and consolidation of foreign subsidiaries Chp 11 Nov 25 Translation and consolidation of foreign subsidiaries Chp 11 Nov 26 Assignment Chapter 11 due (Note: Tuesday due date) Nov 27 NFP Accounting Chp 12 Dec 2 NFP Accounting Chp 12 Dec 3 Assignment Chapter 12 due (Note: Tuesday due date) Dec 4 Review TBA Comprehensive Assignment TBA Final Exam Chapters Page

5 Academic Integrity It is critical to the reputation of the I. H. Asper School of Business and of our degrees, that everyone associated with our faculty behaves with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba Undergraduate Calendar addresses the issue of academic dishonesty under the heading Plagiarism and Cheating. Specifically, acts of academic dishonesty include, but are not limited to: using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source copying the answers of another student in any test, examination, or take-home assignment providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose of submitting academic work or writing any test or examination stealing or mutilating library materials accessing tests prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions with the instructors involved. Group Projects and Group Work Many courses in the I. H. Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic dishonesty. Because of the unique nature of group projects, all group members should exercise special care to insure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to a specific individual(s). Some courses, while not requiring group projects, encourage students to work together in groups (or at least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss this issue as it related to academic integrity with their instructor to avoid violating this policy. In the I. H. Asper School of Business, all suspected cases of academic dishonesty are passed to the Dean s office in order to ensure consistency of treatment. 5 Page

6 Attachment 2 Student Identification: (please print clearly) UNIVERSITY OF MANITOBA Faculty of Management Medical Absenteeism Form Last Name First Name Middle Initial U of M Student Identification Number I hereby authorize to verify with the attending physician or his/her (Name of Instructor/Administrator) staff or colleagues that the contents of this form are true. Student s Signature Date To be completed by the attending physician: (after the above section is completed) Physician s Last Name (please print clearly) Physician s First Name Middle Initial Street Address City, Province Postal Code Telephone Number Fax Number To the attention of the physician: Your evaluation of the student s condition is being used for the purpose of determining whether or not the student has a valid reason to miss an important exam or assignment. Your professional evaluation is necessary to ensure that only valid cases are excused. I certify that the nature of the student s condition is severe enough to prevent the student from taking an exam or completing an assignment. If requested, my associates or I will verify for the above-named instructor/administrator that this information is accurate. The student s condition will likely span the following dates: Physician s Signature (indicate start date) until (indicate end date) Date Notes to physician: Please make a note in the student/patient s file indicating that the student has given the above-named instructor/administrator permission to verify with you, your staff, or your colleagues, that the information contained on this form is correct. Thank you for your professional evaluation of this student s condition. PLEASE ATTACH THIS FORM TO YOUR REGULAR OFFICE STATIONERY THAT INDICATES THE STUDENT VISITED YOUR OFFICE. Note to student: The use of this form is at the option of the student. However, in order to obtain an excused absence for an assignment or exam, the student must obtain a doctor s certification that the student s condition is severe enough to prevent the student from taking the exam or completing the assignment. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor s office. 6 Page

Financial Accounting Concepts and Research

Professor: Financial Accounting Concepts and Research Gretchen Charrier ACC 356 Fall 2012 Office: GSB 5.126D Telephone: 471-6379 E-Mail: Gretchen.Charrier@mccombs.utexas.edu Office Hours: Mondays and Wednesdays