FULL-TIME UNDERGRADUATE CALENDAR 2005-2006

Accounting

ACC 100 ACC 305 ACC 406 ACC 414 ACC 504 ACC 506 ACC 507 ACC 514 ACC 521 ACC 522 ACC 605 ACC 607 ACC 621 ACC 703 ACC 706 ACC 742 ACC 801 ACC 803 ACC 804 ACC 808 ACC 821 ACC 842 ACC 100 Introductory Financial Accounting This course will introduce you to the interesting and challenging field of Financial Accounting. Financial Accounting is a language designed to capture, summarize, and communicate the economic facts about an organization in a set of financial statements and the related descriptive notes. The course will focus on the principles of accounting and reporting to various users that are external to the organization. Accounting 100 will emphasize the decision-makers or users. You will learn what information is provided in financial statements and the uses and limitations of this information to various decision-makers. (formerly ACC 104 and ACC 204). Lect: 3 hrs./Lab: 1 hr. back to top ACC 305 Computerized Accounting This course involves a study of ACCPAC for Windows common and administrative services, general ledger and financial reporter, accounts receivable and accounts payable modules. The students will learn how the introductory financial and management accounting course materials are used in a computerized accounting system. Coverage will include both proprietorship and corporation business structures from the entry of the basic data to the preparation of the financial statements. Prerequisites: ACC 100 and (ITM 102 or BIS 100 or CBS 100) or Direct Entry. Lect: 3 hrs. back to top ACC 406 Introductory Management Accounting This course introduces the basic management accounting concepts to business students. Topics covered provide a good balance between the concepts and procedures used in the accumulation and use of data by management accountants to facilitate planning and decision making. Cost behaviour and its implications for planning, reporting to management, and control is stressed. Prerequisite: ACC 100 or Direct Entry. Lect: 3 hrs. back to top ACC 414 Intermediate Accounting I This course reviews and embellishes the financial reporting requirements as presented in generally accepted accounting principles (GAAP). The topics will include revenue recognition and the asset side of the balance sheet. Students should expect to use and expand on the application of all the generally accepted accounting principles and concepts covered in introductory financial and management accounting courses. To be successful in the course, students should be prepared to work independently outside the class sessions. Prerequisite: ACC 406 or Direct Entry. Lect: 3 hrs. back to top ACC 504 Advanced Accounting This course begins with a conceptual review of accounting principles, and reviews issues studied in earlier courses such as revenue recognition, the treatment of research and development cost, and insolvency. Students are also introduced to accounting in the not-for-profit sector, and issues in international accounting. This course emphasizes the role of communication in the accounting profession. Critical thinking and problem solving skills are developed through extensive use of case analysis. Prerequisite: ACC 514 or Direct Entry. Lect: 3 hrs. back to top ACC 506 Introductory Management Accounting II This course is designated for non-accounting majors. Management Control is studied through the use of budgets, standards, variance analysis, return on investment and residual income expectations. Other topics covered include relevant costs in non-recurring decisions and the discounted cash flow approach to capital budgeting. (formerly ACC 403). Prerequisite: ACC406 or Direct Entry. Lect: 3 hrs. back to top ACC 507 Accounting for Managers This course is intended for students who intend on pursuing a career as a manager in the public or private sector. Managers make use of accounting information when making most operating and financial decisions. It is important that financial and management reporting issues be studied at an advanced level. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 514 Intermediate Accounting II This course continues from the ACC 414 coverage of the financial reporting requirements as presented in generally accepted accounting principles. The topics will include liabilities, share capital transactions, earnings per share calculations, adjustments, correction of errors, income taxes, leases, pensions and financial statement analysis. Students should expect to use and expand on the application of generally accepted accounting principles and concepts covered in ACC 414 and introductory financial and management accounting courses. To be successful in the course, students should be prepared to work independently outside the class sessions. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 521 Auditing An introduction to the auditing standards and procedures developed by the accounting profession. Topics covered include: auditing standards, the audit report, materiality, risk, gathering of evidence and sampling. The course is useful to the student who is interested in the profession of auditing or developing a manager’s understanding of auditing. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 522 Taxation Since taxation has an important effect on business decision-making in this course students will study the fundamental principles of the Canadian income tax laws and examine their effect on business decisions and financial planning. The tax treatment of various sources of income, as well as the legislation affecting small businesses will be included in the course. The student will develop decision making skills through numerous situational examples and case analysis. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 605 Public Sector Accounting A study of the role of accounting in the not-for-profit and public sectors. Particular attention will be given to fund accounting and typical financial statements. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 607 Accounting for Small Business This course is intended to broaden the student's depth of understanding of particular accounting issues required by small business such as payroll accounting, special employer tax and bank reporting requirements. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 621 Internal Auditing This course examines the role and practice of internal auditing in the Profit and Public Sectors with an emphasis on value for money auditing. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 703 Accounting for Intercorporate Investments This course provides the student with advanced technical knowledge in the following specialized areas: Intercorporate Investments/Consolidation and Foreign Currency Translation. Alternatives to current practice are presented to ensure the student has a context for understanding the current Canadian recommendations and their resulting effects on financial statements. A case analysis is emphasized. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 706 Accounting Theory This course studies the theoretical and practical issues encountered in contemporary accounting practice. Selected topics are compared with current industry uses and the CICA Handbook. The development of critical thinking and communications skills is stressed. Prerequisite: ACC 514 or Direct Entry. Lect: 3 hrs. back to top ACC 742 Canadian Business Taxation I A detailed examination of the federal income tax law concerning income of individuals from employment, business and property. The implementation of the law and its effects, and issues in tax planning and other practical matters are explored, as well as legal interpretations of the law, through examination of a wide variety of practical problems and cases. Related rules in the Goods and Services Tax Act are also examined. Students should have a knowledge of accounting and business law, and be prepared to spend a minimum of two hours outside of class for every hour in class. (formerly first half of ACC 042). Prerequisite: ACC 514 or Direct Entry. Lect: 3 hrs. back to top ACC 801 Intermediate Cost & Management Accounting This course will provide a comprehensive study of costing for decision making, planning and performance evaluation. Emphasis will be placed on cost allocation methods, capital budgeting and transfer pricing. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 803 Advanced Management Accounting Explores the design, use and implications of the planning and control systems used by management to evaluate operating performance. The following issues are dealt with: variations between profit and not-for-profit sectors; decision making under uncertainty; pricing decisions; cost centres and profit centres; organizational behavioural aspects of management accounting systems. Prerequisite: ACC 801or Direct Entry. Lect: 3 hrs. back to top ACC 804 Controversial Issues in Accounting This course is a reading course in which students will study a limited set of contemporary issues in Accounting. Prerequisite: ACC 414 or Direct Entry. Lect: 3 hrs. back to top ACC 808 International Accounting This course is designed to give accounting students the opportunity to analyse the accounting standards recommended in countries other than Canada and the United States. The focus of the course will involve an in depth comparison between the practices currently recommended in Canada for each section of the balance sheet and income statement and those of a selected foreign country. The analysis will include how the reporting in these countries will impact the reporting by a Canadian parent company. Students will be contacted before the course starts to select the country they wish to review, however, the professor will limit the number of students for each country. Prerequisite: ACC 514 or Direct Entry. Lect: 3 hrs. back to top ACC 821 Advanced Auditing This course expands on areas covered in an introductory auditing course. Topics include audit strategy, comprehensive auditing, professional judgment, small businesses and not-for-profit auditing. Current literature from professional journals will form an integral part of the material. The course is required for those individuals planning a career in external auditing. Prerequisite: ACC 521 or Direct Entry. Lect: 3 hrs. back to top ACC 842 Canadian Business Taxation II A further examination of the federal income tax law, dealing with its implementation and effects on both large and small corporations, their shareholders, and their business and financial decisions. Practical tax planning issues are explored, as well as interpretations of the law, in a wide variety of problems and cases. Taxation of partnerships, trusts, and the Goods and Services Tax are also examined. (formerly second half of ACC 042). Prerequisite: ACC 742 or Direct Entry. Lect: 3 hrs. back to top