Accounting (ACCT) 451
Advanced Financial Accounting (Revision 10)
Revision 10 is closed for registrations, replaced by current version.
View previous syllabus.
Delivery Mode: Individualized study online or grouped study**
Credits: 3
Area of Study: Applied Studies
(Business and Administrative Studies)
Prerequisite: ACCT 351. ACCT 352 is recommended.
Faculty: Faculty of Business
ACCT 451 is not available for challenge.
Overview
ACCT 451 is designed to cover a selected group of advanced financial accounting topics. More than half of the course is devoted to the related topics of investments in equity securities, business combinations, and the preparation of consolidated financial statements. The remainder of the course covers the translation of foreign currency transactions, the translation of foreign currency financial statements, and accounting for not-for-profit organizations.
ACCT 451 is a three-credit option in Athabasca University's Bachelor of Commerce degree program, as well as a required course in the University Certificate in Advanced Accounting. The course meets the requirements of all three professional accounting bodies in Canada (CA, CGA, CMA) with respect to a course in advanced financial accounting.
The minimum prerequisite for this course is a 3-credit course in intermediate accounting (e.g., AU's ACCT 351). However, it is strongly recommended that you complete a 6-credit sequence in intermediate accounting prior to attempting this course (e.g., AU's ACCT 351 and ACCT 352). While it would be possible to succeed in ACCT 451 without taking both of these courses (or their equivalents), the background they provide could make ACCT 451 much easier to work through.
Outline
Chapter 1: A Survey of International Accounting
Chapter 2: Investments in Equity Securities
Chapter 3: Business Combinations
Chapter 4: Consolidated Statements on Date of Acquisition
Chapter 5: Consolidation Subsequent to Acquisition Date
Chapter 6: Intercompany Inventory and Land Profits
Chapter 7: Intercompany Profits in Depreciable Assets and Intercompany Bondholdings
Chapter 8: Consolidated Cash Flows and Ownership Issues
Chapter 9: Other Consolidation Reporting Issues
Chapter 10: Foreign-currency Transactions
Chapter 11: Translation and Consolidation of the Financial Statements of Foreign Operations
Chapter 12: Accounting for Not-for-Profit Organizations and Governments
Evaluation
Your final grade in this course will be based on three written assignments, a midterm examination, and a final examination. You must write the midterm and the final examination. You must also achieve an overall course grade of at least a “D” (50 percent) and a grade of at least “D” (50 percent) on each examination. If either examination grade is below “D” (50 percent), you will not receive credit for the course, even in your overall course grade exceeds “D” (50 percent). The weighting of the composite mark is as follows:
| Assign 1 | Assign 2 | Midterm Exam | Assign 3 | Final Exam | Total |
|---|---|---|---|---|---|
| 5% | 5% | 40% | 10% | 40% | 100% |
To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.
Note: Students planning to transfer this course to a Professional Accounting designation (i.e., CMA, CGA, CA) are advised that they will be required to achieve a grade higher than the minimum passing grade. See the Professional Accounting Designation Website for details.
Course Materials
Textbook
Hilton, M. W., & Herauf, D. (2010). Modern Advanced Accounting in Canada (6th ed.). Toronto: McGraw-Hill Ryerson. ISBN 978-0-07-000153-4
Other Materials
Students will access all other course materials online.
Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.
Opened in Revision 10, March 26, 2012
View previous syllabus