Vancouver Island University
Faculty of Management, Department of Accounting ~~ http://www.viu.ca/management/
ACCOUNTING 336 ~~ INTERMEDIATE FINANCIAL ACCOUNTING
LIABILITIES AND OWNERS EQUITY
Spring 2015
Faculty
Office:
Phone:
Email:
Web:
Office Hours
Wiley Plus:
Gordon Holyer, Professor
Building 250, Room 426
250.753.3245, local 2539 / Fax: 250.740.6551
gordon.holyer@viu.ca
http://web.viu.ca/holyerg
MW 14:00 – 16:00
https://www.wileyplus.com/WileyCDA/
Prerequisite
Minimum C+ in Acct 201
Text
Kieso, Donald E., Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M.
Wiecek, Bruce J. McConomy, Intermediate Accounting, 10th Canadian Edition, Wiley,
2013
Reference
Canadian Institute of Chartered Accountants, CICA Handbook, Current Edition
International Financial Reporting Standards (IFRS)
Learning Outcomes
General

Review accounting principles and demonstrate an understanding of the
elements of financial statements.

Demonstrate an understanding of Generally Accepted Accounting Principles.
Technical

Demonstrate an understanding of the accounting environment and the
application of accounting principles.

Demonstrate an understanding of the liabilities and equity/net assets elements
of the balance sheet.

Prepare and explain a Cash Flow Statement.

Demonstrate and analyze how the business environment and industry affect
the choice of accounting policies in an organization.

Demonstrate and analyze the effect of accounting policy choices on the users
from different stakeholder groups.

Analyze financial information and describe the effects of different accounting
methods on financial statements.
Critical Thinking and Problem Solving
 Effectively analyze financial statements.
Professional Integrity

Meet the requirements of various professional bodies, such as the Certified
General Accountants' Association, the Society of Management Accountants and
the Canadian Institute of Chartered Accountants - this course can prepare the
student for further studies in accounting.
Method of Instruction:
This course will be taught on a lecture/seminar basis. There will be regular reading
assignments as well as assigned exercises and problems.
Evaluation
Two Tests
45%
Assignments
15% (Wiley Plus)
Final Examination
40%
Test dates on the course outline are approximate. It is the student’s responsibility
to know the correct test dates. The comprehensive final will be during the final
exam period April 16 - 27, 2015. Students must write the final exam on the date
scheduled in the assigned examination room.
POLICY WITH REGARD TO MISSED OR POORLY WRITTEN TESTS. Any scheduled test which is
missed for any reason will be assigned a mark of zero. If the lowest mark obtained in an
unit test is less than that received on the final, the mark received on the final will be
assigned to that unit test.
Academic
Misconduct
Academic misconduct includes, but is not limited to, giving and receiving information
during any test or exam, using unauthorized sources of information during any test;
plagiarizing; fabrication, cheating, and, misrepresenting the work of another person
as your own, facilitation of academic misconduct, and under certain conditions, nonattendance.
Plagiarism will not be tolerated. You must reference your work and acknowledge
sources with in-text citations and a complete list of references. This includes direct
and indirect quotes, diagrams, charts, figures, pictures and written material.
For group projects, the responsibility for academic integrity, which can result in
academic misconduct and its resulting penalties, rests with each person in the group
and sanctions would be borne by each member.
No electronic dictionaries, cell phones or other electronic devices will be allowed in
exams/tests/quizzes. Only the following approved calculators may be used in
exams/tests/quizzes. No other materials will be allowed on the desktop apart from a
pen/pencil unless specifically approved by the faculty member.
Texas Instrument BAII Plus, BAII, BA35; Sharp EL-733A; Hewlett Packard 10B
Referencing
Faculty of Management (Business) requires the APA style of referencing for
academic papers. Resources for using APA are available from the VIU Writing Centre (Library,
Room 474). You can find access to online student resources (including tutorials and a
printable Quick Guide) at: http://sites.viu.ca/writingcentre/.
Accommodation
Students with documented disabilities requiring academic and or exam accommodation
should contact Disability Services in Building 200.
Letter Grades
Grades will be assigned according to the following percentage scale.
A+
90 – 100%
C+
64 – 67
A
85 – 89
C
60 – 63
A80 – 84
C55 – 59
B+
76 – 79
D
50 - 54
B
72 – 75
F
< 50
B68 – 71
Last day to withdraw from this course without academic penalty is February 27, 2015.
Unit 1:
1.
Non-financial and Current Liabilities
Text Chapter
13
Recognition and Measurement
Common Current Liabilities
Non-Financial Liabilities
Presentation, Disclosure, and Analysis
IFRS and Private Enterprise GAAP Comparison
IAS 7, 1, 37, 39, 32
IFRIC 13
IFRS 7
CICA Handbook Sections 1540, 1510, 3110, 3280, 3290, 3856, 1521
2.
Long-Term Financial Liabilities
Nature of Long-Term Debt
Measurement and Valuation
Derecognition of Debt
Recognition and Presentations Issues
IFRS and Private Enterprise GAAP Comparison
IAS 32
IFRS 7
CICA Handbook Sections 1510, 3856, 1521
14
3.
Shareholders’ Equity
The Corporate Form
Share Capital
Retained Earnings
Other Components of Shareholders’ Equity
Presentation and Disclosure
Perspectives
IFRS and Private Enterprise GAAP Comparison
IAS 1
IFRS 7, 9
CICA Handbook Sections 3240, 3610, 3251, 3856, 1625
15
4.
Complex Financial Instruments
Derivatives
Debt versus Equity – Issuer Perspective
Share-Based Compensation
IFRS and Private Enterprise GAAP Comparison
IAS 32, 39
IFRS 7, 9
CICA Handbook Sections 3500, 3856, 3870
16
5.
Earnings Per Share (EPS)
Overview
Basic EPS
Diluted EPS
IFRS and Private Enterprise GAAP Comparison
IAS 33, 32
IFRS 7
CICA Handbook Sections 3856
17
Test # 1: Approximate Date February 11, 2015
Unit II:
1.
Income Taxes
Current Income Taxes
Future/Deferred Income Taxes
Income Tax Loss Carryover Benefits
Presentation, Disclosure, and Analysis
IFRS and Private Enterprise GAAP Comparison
IAS 12
CICA Handbook Section 3465
18
2.
Pensions and Other Employee Future Benefits
Introductions and Benefit Plan Basics
Defined Benefit Pension Plans
Presentation, Disclosure, and Analysis
IFRS and Private Enterprise GAAP Comparison
IAS 19
IFRIC 14
CICA Handbook Section 3461
19
3.
Leases
Leasing Basics
Classification Approach – Lessees
Classification Approach – Lessors
Contract-Based Approach
IFRS and Private Enterprise GAAP Comparison
IAS 17
CICA Handbook Section 3065
20
4.
Statement of Cash Flows
Introduction to the Statement of Cash Flows
Preparing a Statement of Cash Flows
Presentation, Disclosure, and Analysis
IFRS and Private Enterprise GAAP Comparison
IAS 7
CICA Handbook Section 1540
22
Test # 2: Approximate Date April 1, 2015
Unit III:
1.
Accounting Changes and Error Analysis
Changes in Accounting Policies, and Estimates, and Errors
Perspectives
IFRS and Private Enterprise GAAP Comparison
IAS 8, 1
CICA Handbook Sections 1506 and 1400
Final Examination: April 16 – 27, 2015
21