Accounting(ACCT)

Students study basic accounting concepts and principles, their application to business transactions and financial statements, and the uses and limitations of the balance sheet, income statement, and statement of cash flow.

This course serves as an introduction to managerial uses of accounting data in the production of goods and the provision of services. Accounting concepts and principles will be studied from the perspective of managerial decision-making.

Students are introduced to the effective use and impact of computer information systems and emerging information technologies in business. Enterprise systems which include supply chain management, customer relationship management, business intelligence systems and collaborative systems are reviewed to understand their potential strategic value to organizations. Internal controls and the evaluation of information technology investments are common themes.

This course for non-accounting majors covers both the concepts and techniques of planning and control. Topics may include financial decision making, activity management, performance measurement and analysis, cost allocation, and management control systems. A major focus is the enhancement of teamwork, analytical, and other decision-making skills.

This course is the second segment of the prior two part ACCT 3333-3334 sequence. The focus of this course is on topics related to the evaluation of performance and business processes (e.g. cost variance analysis, revenue variance analysis, budgeting, the balance scorecard, cost management and transfer pricing).

Students will focus on topics related to the identification, classification, and evaluation of costs, various cost measurement systems (e.g., job order costing, process costing, activity-based costing, and cost estimation), and the evaluation of performance and business processes (e.g., cost variance analysis, revenue variance analysis, budgeting, and cost management).

This course is the second segment of the prior two part comprehensive intermediate ACCT 3341-3342 sequence addressing the application of accounting principles and concepts to liability and equity topics; accounting changes and preparations of the statement of cash flows. Classes 3 hrs. and lab 75 min. a week.

Financial Accounting Analysis is focused on the form and content of financial information disclosed by organizations to external parties together with the development of skills needed to analyze the information. The primary audience for this course is non-accounting majors in their third or fourth year.

Study of objectives of financial accounting, major accounting theories, evolution of financial accounting theory and practice, survey of contemporary accounting practice with emphasis on latest developments and issues.

Students will prepare for the demands of the Accounting Major by further developing their understanding of the accounting model, manual and electronic financial statement preparation, and the effects of business transactions on financial statements and user decisions. The course is grounded in concepts underlying ASPE and IFRS GAAP and the requirements of the Canadian accounting profession.

Reinforcing and building on concepts introduced and competencies developed in ACCT 3350, students will address the GAAP recognition, measurement and reporting requirements for financial and non-financial assets and liabilities and for shareholders’ equity, including accounting changes.

Students address the basic GAAP recognition, measurement and reporting requirements for accounting issues such as derivatives, earnings per share, leases, income taxes, and pensions, and also address interim reporting, subsequent events, related party transactions and the MD & A.

This course is an introduction to accounting in the international environment. building on introductory financial (and to a lesser extent managerial) accounting to provide the requisite background to understand accounting issues facing multinational firms.

Students will gain an insight into economic entities' current sustainability accounting, reporting, and assurance. They will study accounting and reporting by various organizations on their environmental, social, and economic performance. In the context of the complex regulatory landscape of sustainability reporting and external assurance, students will learn to navigate relevant policy frameworks and standards and appreciate their implementation.

This course expands on the systems and control concepts introduced in ACCT 3323. Accounting transaction processing, the use of accounting information systems (AIS), and their design and construction are analyzed. Internal controls within AIS, evaluation techniques, and techniques for developing, documenting, and monitoring the effectiveness of AIS are investigated. Classes 3 hrs. and lab 75 minutes a week.

Students address the basics of accounting for and reporting of strategic equity investments in other enterprises, foreign currency translation and accounting for NPOs and public sector entities, including fund accounting.

Students are introduced to the application of accounting standards of current interest to the accounting profession. Examples include: natural resources of financial services, sustainability reporting and performance reporting by nonbusiness organizations.

This course will examine how accounting information can be used to evaluate a firm. The importance of economic conditions, accounting policy choice, and strategic management decisions for statement analysis will be considered. The course will also explore the usefulness and limitations of public disclosure for decision-making. Techniques for analysis and forecasting will be discussed as well as current research findings that impact on financial statement analysis.

Students study the basic concepts and theory of auditing including the auditing environment, the auditor’s role, the structure of the profession, responsibilities of auditors, nature and theory of evidence, the auditor’s report, and other related topics.

This course is the first of a two course sequence which introduces the student to the fundamental principles of taxation (the theory), the compliance aspects of the law (the practice), and the rationale for specific tax provisions (the policy). The course also examines the effect of taxation law on the investment decisions of individuals and corporations. Both personal and corporation income taxation are covered

Students examine in greater depth the topics covered in ACCT 4453, and are introduced to the concept and principles of commodity taxation. Course assignments concentrate on the effect of tax law on personal and managerial decision making.

A study of the concepts and theory of internal/operational auditing including the internal/operational audit environment; the structure of the auditing profession; the duties, responsibilities and procedures of auditors; and the relationship between the internal/operational auditing function and the external audit.

The purpose of this course is to provide students with the background of, and accounting for the most common financial instruments. Particular attention is paid to risk, internal controls, standard-setting in Canada, accounting for derivatives, fair value, and hedge funds.

In this capstone course, students examine emerging issues in accounting for all forms of organizations including measurement, analysis, reporting, judgement and decision making. Integrating this material with knowledge gained in previous courses is a major purpose of the course.