Accounting (ACCT) 451

View previous syllabus.

Delivery mode: Individualized study online or
grouped study**

Credits: 3 - Applied Studies

Prerequisite: ACCT 351 and ACCT 352.

Centre: School of Business

ACCT 451 is not available for challenge.

**Note: Students registering in grouped study, or grouped study

Overview

ACCT 451 is designed to cover a selected group of advanced financial accounting topics. More than half of the course is devoted to the related topics of investments in equity securities, business combinations, and the preparation of consolidated financial statements. The remainder of the course covers the translation of foreign currency transactions, the translation of foreign currency financial statements, and accounting for not-for-profit organizations.

ACCT 451 is a three-credit option in Athabasca University's Bachelor of Commerce degree program, as well as in the University Certificate in Advanced Accounting. The course meets the requirements of all three professional accounting bodies in Canada (CA, CGA, CMA) with respect to a course in advanced financial accounting.

The minimum prerequisite for this course is a one-semester course in intermediate accounting (e.g., AU’s ACCT 351). However, it is strongly recommended that you complete a two-semester sequence in intermediate accounting prior to attempting this course (e.g., AU’s ACCT 351 and ACCT 352). While it would be possible to succeed in ACCT 451 without taking both of these courses (or their equivalents), the background they provide could make ACCT 451 much easier to work through.

Outline

Lesson 1: Introduction

Lesson 2: Investments in Equity Securities

Lesson 3: Business Combinations

Lesson 4: Consolidation at Acquisition

Lesson 5: Consolidation Subsequent to Acquisition (No Intercompany Profits)

Lesson 6: Consolidation Subsequent to Acquisition (Including Unrealized Intercompany Profits)

Lesson 7: Interests in Joint Ventures

Lesson 8: Translation of Foreign Currency Transactions

Lesson 9: Translation of Foreign Currency Financial Statements

Lesson 10: Accounting for Not-For-Profit Organizations

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Evaluation

Your final grade in this course will be based on four written assignments, a Midterm Examination, and a Final Examination. If you fail to submit an assignment by the end of your contract period, you will receive a grade of zero for that assignment. You must write a midterm and a final examination. You must also achieve an overall course grade of at least a “D” (50 percent) and a grade of at least “D” (50 percent) on each examination. If either examination grade is below “D” (50 percent), you will not receive credit for the course, even in your overall course grade exceeds “D” (50 percent). The weighting of the composite mark is as follows:

Assign 1	Assign 2	Midterm Exam	Assign 3	Assign 4	Final Exam	Total
5%	5%	35%	5%	5%	45%	100%

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Note: Students planning to transfer this course to a Professional Accounting designation (i.e., CMA, CGA, CA) are advised that they will be required to achieve a grade higher than the minimum passing grade. See http://business.athabascau.ca/profAcct/ for details.