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Accounting

ACC 200 Introduction to Financial Accounting (3-1T) A

This course focuses on the accounting concepts and procedures involved in recording and reporting the organization and operation of business corporations. In addition to accounting principles, students also learn how to read and interpret financial statements.

Prerequisite: BUS 100

ACC 205 Introduction to Financial Accounting II (3-1T) A

This course builds on the concepts and skills learned in introductory accounting and prepares the student for the more conceptual approach required for Intermediate Accounting. Students learn to apply the accounting framework and further develop skills for recording transactions and events and analyzing financial statements. In addition, generally accepted accounting principles are introduced and applied. Topics include revenue recognition, long-term liabilities, partnership accounting, shareholders’ equity, investments, notes to the financial statements, and the cash flow statement.

Prerequisite: ACC 200

ACC 210 Managerial Accounting (3) A

Based on the concepts learned in ACC 200, this course explores the applications of accounting including information in the management context. Topics include: management planning and control, inventory and cost flow analysis, job order costing, standard costs and variance analysis, budgeting, break-even analysis, relevant costs and decision-making.

Prerequisite: ACC 200

ACC 301 Intermediate Financial Accounting I (3-1T) B

This course examines current conventional accounting standards with respect to asset and liability measurement and income determination with a particular emphasis on the asset side of the balance sheet. Specific topics include case, receivables, inventories, short and long-term investments, intangible assets and capital assets.

Prerequisite: ACC 200

ACC 302 Intermediate Financial Accounting II (3-1T) B

This course examines current accounting standards with a particular emphasis on the liability/equity side of the balance sheet and some specialized areas of financial statement presentation. Specific topics include short and long-term liabilities, statement of changes in financial position, pensions, leases, income taxes, earnings per share, and accounting changes and error corrections.

Prerequisite: ACC 200

ACC 310 Intermediate Managerial Accounting (3) B

This course provides advanced coverage of managerial accounting concepts and the use of accounting information for management and decision making. Topics to be covered include accumulating and analyzing costs using various costing approaches and then, through case studies, exploring the application of cost data in areas such as strategy formulation, organizational performance evaluation, and pricing, revenue, and investment analysis.

Prerequisite: ACC 210

ACC 401 Advanced Financial Accounting (3) A

This senior level accounting course analyzes the concepts and practices underlying financial reporting in complex areas such as business combinations and intercompany investments; joint ventures; translation of foreign currency transactions and financial statements; bankruptcy; partnerships; and nonprofit organizations.

Prerequisite: ACC 301 and ACC 302

ACC 403 Principles of Auditing (3) B

Introduces students to the fundamental concepts and principles used by the Canadian auditing profession. It explores the role of the auditor, as well as the legal and ethical environment of auditing. In addition to examining the methods and procedures used in auditing and reporting with respect to financial statements, other topics to be covered include internal control and computerization, risk and materiality, and audit planning.

Prerequisite: ACC 301 and ACC 302

ACC 425 Introduction to Taxation (3-1T) B

This course provides an introduction to personal and corporate Canadian income tax systems. The impact of taxes on business decisions will be examined. Students will be required to analyze personal and business tax problems and apply the concepts learned to resolve these situations.

Prerequisite: ACC 200

ACC 495 Special Topics in Accounting (3) O

Special studies in Accounting, as announced.

Note: this course is normally taken by students who have completed at least 18 credits in BUS or ACC.