AC 541 - Intermediate Accounting II 3 Credits
Outline Effective Date 2024 Winter
26
Lecture Hours: 73
Course Description:
This course is an in-depth study of accounting and reporting of long-term liabilities and corporation equities. It also deals with the implications of taxation, leases, pensions, and financial statement analysis.
Rationale:
This is a required core course for the Business Administration Accounting major. Subsequent to the introductory course, students will further their ability to work with accounting principles and concepts as they relate to liabilities and equity. The course is designed for the accounting major who will pursue a career in accounting or who will use accounting information.
Credit transferability has been negotiated with the Chartered Professional Accountants of Alberta.
Prospective employers expect accountants to have an understanding of the accounting principles and concepts that are covered in the course.
Prerequisites: AC 441
Corequisites: None
Course Learning Outcomes:
Upon successful completion of this course, students will be able to
- recognize and apply standards and objectives of external financial reporting to financial information.
- discuss accounting policy choices and apply them to specific transactions or events with the purpose of preparing reliable financial information and statements.
- analyze financial statements/data for the purpose of making business decisions and advising stakeholders.
Required Resource Materials:
Beechy, T. H., Conrod, J. E. D., & Farrell, E. J., & McLeod-Dick, I. (2019). Intermediate
Accounting Volume Two (7th ed. update). McGraw-Hill Ryerson Limited.
Optional Resource Materials:
None
Conduct of Course:
Course consists of 73 lecture hours.
Students are expected to read topical material prior to lectures and lab sessions. Students are encouraged to participate in discussions.
The classroom sessions consist of lectures and application questions. Some questions are done by the students individually with the instructor available to answer specific questions. The lectures provide the student with the background information necessary to do the questions.
Accounting is a practical subject and can only be mastered by practice. Therefore, time is required in and out of class time for working through questions and assignments.
Content of Course:
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Unit
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Unit Content
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Unit Reference
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1
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Financial Liabilities and Provisions
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Chapter 12
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2
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Financial Instruments: Long-term Debt
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Chapter 13
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3
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Shareholders’ Equity
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Chapter 14
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4
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Financial Instruments: Complex Debt & Equity Instruments
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Chapter 15
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5
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Corporate Income Taxes
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Chapter 16
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6
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Tax Losses
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Chapter 17
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7
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Leases
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Chapter 18
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8
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Post-employment Benefits
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Chapter 19
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9
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Earnings per Share
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Chapter 20
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10
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Accounting Changes
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Chapter 21
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11
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Financial Statement Analysis
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Chapter 22
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Course Assessments:
Students are primarily tested on material assigned and discussed in the class. The final grade is an aggregate of the following components:
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Assignments
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15%
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Data Analytics Assignment
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10%
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Chapter Exam 1 (Ch. 12-14)
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20%
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Chapter Exam 2 (Ch. 15-17)
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20%
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Chapter Exam 3 (Ch. 18-20)
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20%
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Chapter Exam 4 (Ch. 21&22)
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15%
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Total
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100%
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Course Pass Requirements:
A minimum grade of D (50%) (1.00) is required to pass this course.
Students must maintain a cumulative grade of C (GPA - Grade Point Average of 2.00) in order to qualify to graduate.
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