Syllabus (Busi 453, Section 202) PDF

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Syllabus

COURSE INFORMATION Course title: ADVANCED FINANCIAL ACCOUNTING Course code: BUSI 453 Credits: Session and term: 2019W2 Class location: Section(s): 202 Class times: Course duration: January 6 to April 8 Pre-requisite/ Co-requisite: Division: Diploma in Accounting Program

3 Distance Education N/A COMM 450

INSTRUCTOR INFORMATION Instructor: Chuck Campbell, BA, CPA, CMA Email:

[email protected]

Office location: Office hours:

David Lam 422B Mon, Wed, 1:00 to 2:20 pm or by appointment

COURSE DESCRIPTION The course provides an examination of advanced financial accounting topics. COURSE FORMAT Lectures covering course material and solving example problems will be posted on the course website and will be available to students. LEARNING OBJECTIVES The objectives of the course are to increase understanding of the concepts underlying the reporting of the investor’s interest and subsidiaries and joint arrangements and to provide the student with the ability to prepare consolidated financial statements, account for and report transactions and balances denominated in foreign currencies and prepare financial statements for not-for-profit organizations in compliance with accounting principles generally accepted in Canada. Upon completion of the course, students should be able to:  recognize, measure, present and disclose investments in equity securities and the income derived therefrom  prepare consolidated financial statements for Canadian parent companies and their domestic subsidiaries  understand and account for advanced consolidation topics including changes in ownership interests, subsidiaries with preferred shares and reporting investments in joint arrangements  recognize, measure, present and disclose financial instruments entered into speculatively or to hedge exposure to exchange rate movements  translate the financial statements of foreign operations into Canadian dollars for the purpose of consolidation with the foreign operation’s Canadian parent company  prepare consolidated financial statements for Canadian parent companies and their foreign subsidiaries  record transactions and prepare financial statements for not-for-profit organizations in compliance with Canadian accounting standards.

1 COMM 453, SECTIONS 201, 202, 203 and 204

January 3, 2020

Syllabus ASSESSMENTS Summary Component Assignments Midterm exam Final exam Total

Weight 20 % 30 % 50 % 100%

Details of Assessments There will be ten assignments to help students develop their practical ability to apply the concepts and methodologies introduced in the course. There will be one mid-term examination held on the evening of Tuesday, March 3. The final examination will be cumulative. Students who do poorly on the mid-term exam may atone for their performance by doing well on those questions on the final exam that test the pre-mid-term material. Students must obtain a satisfactory grade on the final examination to achieve a passing grade in the course. Both mid-term and final examinations are graded by the course instructor.

LEARNING MATERIALS Modern Advanced Accounting in Canada, Darrell Herauf and Murray W. Hilton, Ninth Edition, McGrawHill Ryerson, 2019 (ISBN: 978-1-25-965469-5) Business 453 Course Companion, Diploma in Accounting Program, Sauder School of Business, University of British Columbia Other material will be available on the course website on Canvas. TECHNOLOGY REQUIREMENTS Campus-Wide Login (CWL: All students at UBC are required to sign-up for a Campus-Wide Login (CWL), which can be used to access a number of services at UBC such as the SSC, Canvas and UBC E-mail. Information about CWL can be found at: https://it.ubc.ca/services/accounts-passwords/campus-wide-login-cwl. Canvas We will be using the Canvas Learning Management System for this course. The course website will be accessible starting January 5, 2020. How to Login to Canvas Follow the steps to access this course page on Canvas:  Go to www.canvas.ubc.ca click “Login to Your Courses” In the blue box (labelled “Login to www.canvas.ubc.ca”), enter your Login ID and password, then click on the “Login” button:  Login ID: Your CWL (Campus Wide Login).  Password: Your CWL password  Click on the course name (BUSI 453)

2 COMM 453, SECTIONS 201, 202, 203 and 204

January 3, 2020

Syllabus Technical Support If you experience any technical difficulties with your login, please contact the UBC Information Help Desk.

COURSE-SPECIFIC POLICIES AND RESOURCES Missed or late assignments, and regrading of assessments The highest eight marks on the ten assignments will contribute toward the course grade. Assignments are due at 5:30 pm on the day specified in the course schedule below. Late assignments are not accepted because solutions will be posted on the course website on the date that the assignments are due. Assignments are graded by a teaching assistant. Academic Concessions All students are expected to write both the mid-term and final exams. If a student is unable to write a final examination, he or she must apply to the Undergraduate Office of the Sauder School of Business for an academic concession. Course instructors are not permitted to grant such concessions. Any academic concession requests, other than those relating to the final exam, will be reviewed by the instructor on a case-by-case basis.

UNIVERSITY POLICIES AND RESOURCES UBC provides resources to support student learning and to maintain healthy lifestyles but recognizes that sometimes crises arise and so there are additional resources to access including those for survivors of sexual violence. UBC values respect for the person and ideas of all members of the academic community. Harassment and discrimination are not tolerated nor is suppression of academic freedom. UBC provides appropriate accommodation for students with disabilities and for religious observances. UBC values academic honesty and students are expected to acknowledge the ideas generated by others and to uphold the highest academic standards in all of their actions. Details of the policies and how to access support are available on the UBC Senate website at https://senate.ubc.ca/policies-resourcessupport-student-success. Academic Integrity The academic enterprise is founded on honesty, civility, and integrity. As members of this enterprise, all students are expected to know, understand, and follow the codes of conduct regarding academic integrity. At the most basic level, this means submitting only original work done by you and acknowledging all sources of information or ideas and attributing them to others as required. This also means you should not cheat, copy, or mislead others about what is your work. Violations of academic integrity (i.e., misconduct) lead to the breakdown of the academic enterprise, and therefore serious consequences arise and harsh sanctions are imposed. For example, incidences of plagiarism or cheating may result in a mark of zero on the assignment or exam and more serious consequences may apply if the matter is referred to the President’s Advisory Committee on Student Discipline. Careful records are kept in order to monitor and prevent recurrences.

3 COMM 453, SECTIONS 201, 202, 203 and 204

January 3, 2020

Syllabus COPYRIGHT All materials of this course (course handouts, lecture slides, assessments, course readings, etc.) are the intellectual property of the instructor or licensed to be used in this course by the copyright owner. Redistribution of these materials by any means without permission of the copyright holder(s) constitutes a breach of copyright and may lead to academic discipline. Audio or video recording of classes is not permitted without the prior approval of the Instructor. ACKNOWLEDGEMENT UBC’s Point Grey Campus is located on the traditional, ancestral, and unceded territory of the xwmə θkwəyə m (Musqueam) people, who for millennia have passed on their culture, history, and traditions from one generation to the next on this site. COURSE SCHEDULE (Subject to change with class consultation) Week 1

2 3 4

Dates

Investments in Equity Securities

Week ending January 17 Week ending January 24 Week ending January 31

Business Combinations

5

Week ending February 7

6

Week ending February 14 Feb 17-21 Week ending January 28 Mar 3 Week ending March 13 Week ending March 20

7 8 9 10

Topic

Week ending January 10

11

Week ending March 27

12

Week ending April 3

13

Week ending April 10

Consolidated Balance Sheet at Acquisition Consolidation Subsequent to Acquisition without Unrealized Profits Consolidation Subsequent to Acquisition with Unrealized Profits Advanced Topics in Consolidation Reading Week Review for Mid-Term Exam

Readings or Activities

Assignments due

Course Companion Module 1, Text, Chapters 1 and 2 and pages 436-441 Course Companion, Module 2, Text, Chapter 3 Course Companion, Module 3, Text, Chapter 4 Course Companion, Module 4, Text, Chapter 5

Assignment 1 (due Jan 15) Assignment 2 (due Jan 22) Assignment 3 (Due Jan 29)

Course Companion, Module 5, Text, Chapters 6 and 7A

Assignment 4 (due Feb 5)

Course Companion, Module 6, Text, Chapters 8 and 9

Assignment 5 (due Feb 12) Assignment 6 (due Feb 26)

Mid-Term Exam (Tuesday evening) Foreign Currency Course Companion, Module 7, Transactions Text, Chapter 10 Translation and Course Companion, Module 8, Consolidation of Foreign Text, Chapter 11 Operations Accounting for Not-for-Profit Course Companion, Module 9, Organizations Text, Chapter 12

Assignment 8 (due Mar 25)

Course Companion, Module 9, Text, Chapter 12

Assignment 9 (due Apr 1

Accounting for Not-for-Profit Organizations and Review for Final Exam Review for Final Exam

4 COMM 453, SECTIONS 201, 202, 203 and 204

Assignment 7 (due Mar 18)

Assignment 10 (due Apr 8)

January 3, 2020

Syllabus

5 COMM 453, SECTIONS 201, 202, 203 and 204

January 3, 2020...