Accounting (ACCT) 451

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 is a three-credit option or elective in Athabasca University's Bachelor of Commerce degree program, as well as a required course in the University Certificate in Advanced Accounting. It meets the requirements of the newly unified Chartered Professional Accountants of Canada (CPA) with respect to an advanced financial accounting course.

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: Conceptual and Case Analysis Framework for Financial Reporting
• Chapter 2: Investments in Equity Securities
• Chapter 3: Business Combinations
• Chapter 4: Consolidation of Non-wholly Owned Subsidiaries
• Chapter 5: Consolidation Subsequent to Acquisition Date
• Chapter 6: Intercompany Inventory and Land Profits
• Chapter 7: (A) Intercompany Profits in Depreciable Assets; (B) Intercompany Bondholdings
• Chapter 8: Consolidated Cash Flows and Changes in Ownership
• Chapter 9: Other Consolidation Reporting Issues
• Chapter 10: Foreign-currency Transactions
• Chapter 11: Translation and Consolidation of Foreign Operations
• Chapter 12: Accounting for Not-for-Profit and Public Sector Organizations

Evaluation

To receive credit for this course, you must achieve an overall course grade of at least D (50 percent) . In addition, you must achieve a grade of at least 50% on each examination. If your grade on either the midterm examination or the final examination is below the minimum passing grade, you will not receive credit for this course, even if your overall course grade is D (50 percent) or better.

The weighting of the composite mark is as follows:

The examination(s) for this course will be written in the traditional pen and paper format.

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.