Module 1: Introduction to Advanced Accounting & Investments in Equity Securities

1. Conceptual framework for financial reporting
2. Accounting standards in Canada
3. Equity investments – overview
4. Accounting for significant influence and investments in associates (cost and equity methods of accounting)
5. Reporting complexities associated with the equity method
6. Differences in the standards for private enterprises

Learning Outcome: 1, 2

Chapter 1 & 2

Assessment: Assignment - 2%

Module 2: Business Combinations (Subsidiaries)

1. Business combinations concepts
2. Forms of business combinations (purchase of net assets, purchase of shares, contractual arrangement)
3. Accounting for business combinations (acquisition method)
4. Consolidated financial statements (year of acquisition) using the direct and worksheet approaches
5. Differences in the standards for private enterprises

Learning Outcome: 3

Chapter 3

Assessment: Quiz- 1%, Assignment - 2%

Module 3: Consolidation of Non-Wholly Owned Subsidiaries

1. Consolidation methods (FVE and identifiable net assets methods)
2. Other consolidation issues (including bargain purchases, contingent consideration, other)

Learning Outcome: 3

Chapter 4 (including 4A)

Assessment – Quiz - 1% Assignment - 2%

Module 4: Consolidation Subsequent to Acquisition Date

1. Methods of accounting for an investment in a subsidiary (including cost and equity methods)
2. Consolidated Income and Retained Earnings Statements
3. Consolidation subsequent to acquisition date (wholly and non-wholly owned subsidiary) using the direct and working paper approaches
4. Other consolidation reporting topics (impairment, other)
5. Differences in the standards for private enterprises

Learning Outcome: 2, 3

Chapter 5 (including 5A, 5B)

Assessments: Quiz- 1%, Assignment-2%

Module 5: Intercompany Balances and Profits – Land and Inventory

1. Accounting for intercompany transactions (balances, revenues and expenses), including how to account for realized and unrealized profits in intercompany transactions (non-depreciable assets such as land, inventory)
2. Adjustments in the year of the sale, subsequent years, downstream vs. upstream

Learning Outcome: 2, 3

Chapter 6

Assessments: Quiz- 1%, Assignment-2%

Module 6: Intercompany Balances and Profits – Depreciable Assets & Other

1. Accounting for intercompany transactions, including how to account for realized and unrealized profits in intercompany transactions (depreciable assets and other)
2. Adjustments in the year of the sale, subsequent years, downstream vs. upstream
3. Differences in the standards for private enterprises

Learning Outcome: 2, 3

Chapter 7

Assessments: Quiz- 1%, Assignment-2%

MIDTERM – 30%

Module 7: Consolidated Cash Flows and Changes in Ownership

1. Consolidated Cash Flow Statement
2. Accounting for various ownership structures including a change in the parent’s ownership interests, subsidiary issues additional shares to public, subsidiary with preferred shares outstanding, indirect shareholdings
3. Differences in the standards for private enterprises

Learning Outcome: 3

Chapter 8

Assessments: Quiz- 1%, Assignment-2%

Module 8: Other Consolidation Reporting Issues

1. Accounting for joint arrangements & other
2. Deferred income taxes arising on acquisition
3. Operating segments
4. Differences in the standards for private enterprises

Learning Outcome: 4, 5

Chapter 9

Assessments: Quiz- 1%, Assignment-2%

Module 9: Foreign Currency Transactions & Hedges

1. Concepts of foreign currency transactions
2. Accounting for foreign currency transactions
3. Hedging foreign currency exposure (forward contracts) – no hedge accounting
4. Hedge accounting (including fair value and cash flow hedges, and hedges of a net investment in foreign operations)
5. Differences in the standards for private enterprises

Learning Outcome: 6, 7

Chapter 10

Assessments: Quiz- 1%, Assignment-2%

Module 10: Reporting Foreign Operations / Foreign Currency Translation

1. Accounting exposure vs. economic exposure
2. Foreign operations – functional vs. presentation currency
3. Translation methods and translated financial statements
4. Other foreign reporting issues (acquisition differential)
5. Differences in the standards for private enterprises 

Learning Outcome: 8

Chapter 11

Assessments: Quiz- 1%, Assignment-2%

Module 11: Financial Reporting for Not-for-Profit Organizations

1. Characteristics and users of Not-for-Profit Organizations (NFPOs)
2. Accounting standards for Not-for-Profit Organizations (NFPO) – financial statements, fund accounting, types of contributions, revenue recognition of contributions (deferral method and restricted fund method), other considerations (capital assets, donated goods and services, other)
3. Differences in the standards for private enterprises 

Learning Outcome: 9

Chapter 12 (including 12A, 12B)

Assessments: Quiz- 1%, Assignment-2%

Module 12: Public Sector Financial Reporting

1. Nature of government, users and uses of public sector accounting
2. Financial reporting for government – PSA Handbook
3. Objectives and major reporting issues 

Learning Outcome: 9

Chapter 12 (including 12C)

FINAL EXAM (Comprehensive): 40%