Notice Advanced Accounting Textbook & User's Guide Manuals

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University of Manitoba

I.H. Asper School of Business

Department of Accounting and Finance

ACC 3030 (A01) - Advanced Financial Accounting

Course Outline

Winter 2014

Tuesday/Thursday, 11:30AM – 12:45PM, Tier 215

Instructor:

Mingzhi Liu

Office: 460 Drake

Phone #: 204-474-6847

E-mail:

mingzhi.liu@ad.umanitoba.ca

Office Hours: Thursday, 2:00PM

–

4:00PM or by appointment

To access course website use the address https://www.umanitoba.ca/d2l to log

on. Then click the ACC3030 course title.

Course Objectives

The course builds on technical skills and conceptual understanding developed in earlier courses, particularly ACC 2010 and ACC 2020. Its primary focus is on accounting for long-term inter-corporate investments, particularly methods of consolidation accounting; but there is also coverage of accounting for foreign currency transactions and accounting for non-for-profit organizations. At the conclusion of this course you will be expected to have developed:

1. technical and procedural skills required to deal with the topics listed above;

2. the ability to apply conceptual principles when selecting appropriate accounting policies in different circumstances; and

3. the ability to assess a situation, identify issues and alternatives, and formulate recommendations using professional judgment.

Required Text

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CICA Handbook and IFRS, made available on The University of Manitoba Libraries Website by Canadian Institute of Chartered Accountants, see below for accessing such data.

The CICA Handbook on the University of Manitoba Libraries Website

The CICA Handbook is available in electronic format on the University of Manitoba Libraries website. To access the Handbook:

1. From the University of Manitoba homepage (umanitoba.ca), click on LIBRARIES under RESOURCES block.

2. Click on ARTICLES & DATABASES under FIND block.

3. You should see the page ARICLES & DATABASES A-Z (A). Click on C. Scroll down to click on 2 to see CICA STANDARDS & GUIDANCE COLLECTION listed as the 2nd item.

4. Click on CICA STANDARDS & GUIDANCE COLLECTION.

5. You will then have to enter your Library ID and PIN (if you do not know your Library ID and/or PIN, there is a link on this page that will help you) and click on Login.

6. On the Knotia.ca page, click on CICA Standards & Guidance Collection.

7. The most efficient way to access a particular section in the Handbook is to enter the section number in the “Fetch” box on the left-hand side of the screen and click on Go. The Handbook is accessible on campus or from off-campus with an internet connection.

The CICA Handbook subscription is provided by the Institute of Chartered Accountants of Manitoba.

Conduct of the Course

The course will be conducted principally as a lecture-style class, with some in-class discussion and activities involving the application of accounting principles. Readings, as indicated in the assignments and a 1.2% course credit will be given for each assignment completed by midnight of the due date specified below (the maximum credit for assignment is 10%).

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Allocation of Grades

Online Assignment:

Midterm Examination One:

Through eConnect

Thursday February 6, 2014 6pm-9pm

10% 20% Midterm Examination Two: Thursday March 20, 2014 6pm-9pm 30% Final Examination: To be determined by the Registrar’s Office 40% 100%

Examinations

For any examination, each student will be allowed to bring calculators (non-programmable and without text storage capacity), erasers, pens and pencils. No other materials will be permitted. Conflicts with employers do not qualify as legitimate reasons to miss any examination.

A grade of zero will be given to a missed midterm examination without a legitimate reason. Students who miss a midterm examination for a legitimate reason (medical, compassionate, academic conflict or university sports team travel) should inform me with suitable documentation within 5 days of the missed examination to have the weight of the missed midterm added to the final examination.

In order to obtain an excused medical absence for an exam, the student must obtain a doctor’s certification that the student’s condition is severe enough to prevent the student from taking the exam or test. It is recommended that the student ask the doctor filled out the Medical Absenteeism Form attached to this course outline as the suitable documentation for an excused medical absence. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor’s office.

Students who miss the final examination must apply to the Undergraduate Program Office in their faculty for possible deferred examination privileges. Successful applicants will be informed the time and location of the deferred final examination at time of application.

In order to obtain an excused medical absence for a test or midterm exam, the student must obtain a doctor’s certification that the student’s condition is severe enough to prevent the student from taking the exam or test. It is recommended that the student ask the doctor to fill out the Medical Absenteeism Form attached to the course outline as suitable documentation for an excused medical absence. It is NOT SUFFICIENT to provide a note that only indicates the student visited the doctor’s office.

Bonus Marks

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Class Schedule

Date Topic Readings

Jan 7 Course Introduction

Financial Instruments Chapter 2

Jan 9 Financial Instruments Chapter 2

Jan 14 Intercorporate Investments Chapter 3

Jan 16 Intercorporate Investments Chapter 3

Jan 21 Consolidation on Date of Acquisition Chapter 4 Jan 23 Consolidation on Date of Acquisition Chapter 4 Jan 28 Consolidation subsequent to acquisition Chapter 5 Jan 30 Consolidation subsequent to acquisition Chapter 5

Feb 4 Intercompany Transactions Chapter 6 and 7A (omit 7B)

Feb 6 No Class - Midterm 1 Chapters 2-5

Feb 18/20 No Classes – Reading Week

Feb 25 Ownership Issues Chapter 8 (omit LO1 Pages

423-426)

Feb 27 Ownership Issues Chapter 8 (omit LO1 Pages

423-426)

Mar 4 Ownership Issues Chapter 8 (omit LO1 Pages

423-426)

Mar 6 Other Reporting Issues Chapter 9 (omit LO3-4

pages 512-523)

Mar 11 Foreign currency translation and hedge

accounting Chapter 10

Mar 13 Foreign currency translation and hedge

accounting Chapter 10

Mar 18 Translation and consolidation of foreign

subsidiaries Chapter 11

Mar 20 No Class – Midterm 2 Chapters 2-10

Apr 1 NFP Accounting Chapter 12

Apr 3 NFP Accounting Chapter 12

Apr 8 Review

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ACC3030 Textbook Questions

Chapter

_{In Class Exercise}

*

Homework

2 Problems: 4, 5

Problems: 1, 2, 3, 6, 7

3 Case: 1; Problems: 3, 9, 10

Problems: 1, 2, 5, 6, 11, 12

4 Problems: 2, 3, 7a

Case: 1; Problems: 1, 4, 6, 9, 10, 11

5 Problems: 6, 10, 13

Problems: 1, 4, 5, 7, 8, 11, 14

6 Problems: 7, 15

Problems: 1, 2, 3, 5, 10, 12, 14

7 Problems: 13, 15, 17

Problems: 1,2, 4, 6, 9

8 Problems: 11, 16

Problems: 2, 3, 5, 7, 10, 12, 18

9 Problem: 15

Problems: 9, 10, 13

10 Problems: 10, 13

Problems: 1, 2, 3, 7, 9, 11, 15

11 Problems: 4, 11

Problems: 1, 2, 6, 8, 10, 13

12 Problems: 10, 11

Problems: 1, 2, 4, 6, 8, 12

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Academic Integrity

It is critical to the reputation of the I. H. Asper School of Business and of our degrees, that everyone associated with our faculty behaves with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba Undergraduate Calendar addresses the issue of academic dishonesty under the heading “Plagiarism and Cheating.” Specifically, acts of academic dishonesty include, but are not limited to:

 using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words

 duplicating a table, graph or diagram, in whole or in part, without referencing the source

 paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source

 copying the answers of another student in any test, examination, or take-home assignment

 providing answers to another student in any test, examination, or take-home assignment

 taking any unauthorized materials into an examination or term test (crib notes)

 impersonating another student or allowing another person to impersonate oneself for the purpose of submitting academic work or writing any test or examination

 stealing or mutilating library materials

 accessing tests prior to the time and date of the sitting

 changing name or answer(s) on a test after that test has been graded and returned

 submitting the same paper or portions thereof for more than one assignment, without discussions with the instructors involved.

Group Projects and Group Work

Many courses in the I. H. Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic dishonesty. Because of the unique nature of group projects, all group members should exercise special care to insure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to a specific individual(s).

Some courses, while not requiring group projects, encourage students to work together in groups (or at least do not prohibit it) before submitting individual assignments. Students are encouraged to discuss this issue as it related to academic integrity with their instructor to avoid violating this policy.

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UNIVERSITY OF MANITOBA Faculty of Management Medical Absenteeism Form

Student Identification: (please print clearly)

______________________________ ___________________ ___________ _______________________________

Last Name First Name Middle Initial U of M Student Identification Number

I hereby authorize ________________________________ to verify with the attending physician or his/her (Name of Instructor/Administrator)

staff or colleagues that the contents of this form are true.

________________________________________ _______________________________________ Student’s Signature Date

To be completed by the attending physician: (after the above section is completed)

________________________________________ ______________________________ ________________ Physician’s Last Name (please print clearly) Physician’s First Name Middle Initial

___________________________________________ ________________________________ __________________ Street Address City, Province Postal Code

___________________________________________ _________________________________ Telephone Number Fax Number

To the attention of the physician: Your evaluation of the student’s condition is being used for the purpose of determining whether

or not the student has a valid reason to miss an important exam or assignment. Your professional evaluation is necessary to ensure that only valid cases are excused.

I certify that the nature of the student’s condition is severe enough to prevent the student from taking an exam or completing an assignment. If requested, my associates or I will verify for the above-named instructor/administrator that this information is accurate. The student’s condition will likely span the following dates: ____________________________

(indicate start date)

until ____________________________

(indicate end date) ___________________________________ _________________________________

Physician’s Signature Date

Notes to physician:

 Please make a note in the student/patient’s file indicating that the student has given the above-named instructor/administrator permission to verify with you, your staff, or your colleagues, that the information contained on this form is correct. Thank you for your professional evaluation of this student’s condition.

 PLEASE ATTACH THIS FORM TO YOUR REGULAR OFFICE STATIONERY THAT INDICATES THE

STUDENT VISITED YOUR OFFICE.

Note to student:

 The use of this form is at the option of the student. However, in order to obtain an excused absence for an

assignment or exam, the student must obtain a doctor’s certification that the student’s condition is severe

enough to prevent the student from taking the exam or completing the assignment.