Module 1 - Income Taxes

1. Understand the importance of income taxes from a business perspective.
2. Explain the difference between accounting income and taxable income and calculate taxable income and current income taxes.
3. Explain what a taxable temporary difference is, determine its amount, and calculate deferred liabilities and deferred tax assets.
4. Prepare analyses of deferred tax balances and record deferred tax expense.
5. Explain the effect of multiple tax rates and tax rate changes on income tax accounts and calculate current and deferred tax amounts when there is a change in substantively enacted tax rates.
6. Account for tax loss carryover benefits, including any note disclosures.
7. Explain why the Deferred Income Tax asset is reassessed at the statement of financial position date, and account for the deferred tax asset with and without a valuation allowance account.
8. Identify and apply the presentation and disclosure requirements for income tax assets and liabilities and apply intraperiod tax allocation.

Text reference: Chapter 18
Learning Outcomes: 1, 2
Assessment: Quiz (2%), Assignment (4%)

Module 2: Pensions and Other Employee Future Benefits

1. Understand the importance of pensions from a business perspective.
2. Identify and account for a defined contribution plan and distinguish between defined contribution and defined benefit plans.
3. Explain what the employer’s benefit obligation is, identify alternative measures for this obligation, and prepare a continuity schedule of transactions and events that change its balance.
4. Identify transactions and events that change benefit plan assets and a benefit plan surplus or deficit, and calculate the balance of the plan assets and the plan surplus or deficit.
5. Identify the components of pension expense, and account for a defined benefit pension plan under IFRS and ASPE.
6. Account for defined benefit plans with benefits that vest or accumulate other than pension plans.
7. Identify the types of information required to be presented and disclosed for defined benefit plans, prepare basic schedules, and be able to read and understand such disclosures.

Text reference: Chapter 19
Learning Outcome: 3
Assessment: Quiz (2%), Assignment (4%)

Module 3: Leases

1. Understand the importance of leases from a business perspective.
2. Explain the conceptual nature, economic substance, and advantages of lease transactions.
3. Calculate the lease payment that is required for a lessor to earn a specific return.
4. Identify and apply the factors that are used to determine if a contract is or contains a lease under IFRS 16 and whether leases are capital or operating leases under the ASPE classification approach.
5. Account for right-of-use assets by lessees under IFRS 16 and capital leases under ASPE.
6. Determine the effect of, and account for, residual values and purchase options for a lessee’s right-of-use asset (IFRS) or a capital lease (ASPE).
7. Account for operating leases by lessees under ASPE (and short-term leases and low-value leases under IFRS 16) and compare the operating and capitalization methods of accounting by lessees.

Text reference: Chapter 20
Learning Outcomes: 4, 5
Assessment: Quiz (2%), Assignment (4%)

Midterm (Modules 1-3) 30%

Module 4: Accounting Changes and Error Analysis

1. Identify the types of accounting changes and explain how to account for them.
2. Identify economic motives for changing accounting methods and interpret financial statements where there have been retrospective changes to previously reported results.
3. Identify the differences between ASPE and IFRS related to accounting changes.

Text reference: Chapter 21
Learning Outcome: 6
Assessment: Quiz (2%), Assignment (4%)

Module 5: Cash Flow Statement

1. Understand cash and cash equivalents as well as the business importance of cash flows and describe the purpose and uses of the statement of cash flows. 
2. Identify the major classifications of cash flows and explain the significance of each classification.
3. Prepare the operating activities section of a statement of cash flows using the direct method versus the indirect method.
4. Understand the basic steps in the manual preparation of a statement of cash flows.
5. Prepare a statement of cash flows using the direct method.
6. Prepare a statement of cash flows using the indirect method.
7. Prepare a complex statement of cash flows using both methods.
8. Identify the financial reporting and disclosure requirements for the statement of cash flows.
9. Read and interpret a statement of cash flows.

Text reference: Chapter 22
Learning Outcome: 7
Assessment: Quiz (2%), Assignment (4%)

Module 6: Other Measurement and Disclosure Items

1. Understand the importance of disclosure from a business perspective.
2. Review the full disclosure principle and how it is implemented and explain how companies use accounting policy notes.
3. Describe the disclosure requirements for major segments of a business.
4. Describe the requirements and accounting problems associated with interim reporting.
5. Discuss the accounting issues related to related party transactions.
6. Identify the accounting issues relating to subsequent events and those faced by unincorporated businesses.
7. Identify the major considerations relating to bankruptcy and receivership.
8. Identify the major disclosures found in the auditor's report.
9. Describe methods used for basic financial statement analysis and summarize the limitations of ratio analysis.

Text reference: Chapter 23
Learning Outcomes: 8, 9
Assessment: Quiz (2%), Assignment (4%)

Final Exam (Comprehensive) (40%)