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Course Description

Business man working at desk with sun setting in background

This course presents a critical evaluation of accounting concepts, principles and practices in relation to both the traditional and current value accounting measurement models. Emphasis will be on the effect of alternative accounting practices and measurement models on income determination and asset valuation.

Learning Outcomes

Upon successful completion of this course, you will be able to:

  • Apply generally accepted accounting principles and practices to situations with moderate complexity as they relate to the following topics:
    • Discontinued operations
    • Revenue recognition
    • Cash and receivables
    • Inventory
    • Investments
    • Property Plant and Equipment
    • Intangible Assets and Goodwill
  • Prepare the financial statement information related to the above noted topics.
  • Apply the conceptual framework to a variety of business transactions.
  • Analyze moderately complex accounting issues, research alternative treatments in support of a recommended solution.
  • Demonstrate the ability to communicate effectively in written format in response to less structured problems.
  • Contribute effectively in groups by fulfilling agreed commitments and maintaining a positive environment.
  • Demonstrate an awareness of ethical and professional reporting responsibilities as they relate to financial reporting.

Course Topics

  • The Canadian Financial Reporting Environment
  • Conceptual Framework Underlying Financial Reporting
  • The Accounting Information System
  • Reporting Financial Performance
  • Financial Position and Cash Flows
  • Revenue Recognition
  • Cash and Receivables
  • Inventory
  • Investments
  • Property, Plant and Equipment: Accounting model basics
  • Depreciation, Impairment and Disposition
  • Intangible Assets and Goodwill

Additional Requirements

Prerequisite(s): ACCT*1220 or ACCT*2220

Equate(s): BUS*3330

Restriction(s): This is a Priority Access Course. Enrolment may be restricted to particular programs or specializations. See department for more information.

Assessment

Assessment Item Weight
Quizzes (10 x 1%) 10%
Midterm 1 20%
Data Analytics Assignment 5%
Midterm 2 20%
Online Final Exam 45%
Total 100%

Note:

Additional Technical Requirements

This course will use the following:

  • Respondus tool to invigilate one or more exams. 
  • Zoom as a video communication tool.  A Webcam, a microphone to record video, and headphones/speakers to play back the recording are also needed. 

Please view the Technical Considerations for each.

 

Applies Towards the Following Certificates

Technical Requirements

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*Course details are subject to change.

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Enrol Now - Select a section to enrol in

Section Title
Intermediate Financial Accounting I
Type
Online
Dates
May 13, 2021 to August 09, 2021
Contact Hours
36.0
Delivery Options
Online  
Course Fee(s)
Domestic Tuition Fee (0.5 units) $683.39 Click here to get more information
International Tuition Fee (0.5 units) $2,748.00 Click here to get more information
Available for Credit
0.5 units
Section Notes
Note:  If you are in a degree program at the University of Guelph, please DO NOT register using the link above.  You must register through WebAdvisor.
Section Materials
  • Textbook (Confirmed) (Mandatory) Intermediate Accounting, Volume 1 by Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy © 2019 John Wiley & Sons Canada Ltd. 12th Canadian edition ISBN 9781119496335
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