To provide the students with a thorough and detailed understanding of the underlying concepts and accounting treatment of inter-corporate long-term investments (consolidations and business combinations). To introduce and discuss topics including foreign currency transactions, translating foreign operations, hedge accounting, not for profit accounting, interim and segmented reporting. To discuss and draw student’s attention to current developments within the accounting profession. Course Description:Reporting relevant financial information subsequent to long-term inter-corporate investments.
The preparation of consolidated financial statements with emphasis on their economic substance rather than legal form.
Texts:Modern Advanced Accounting in Canada, Hilton/Herauf, 5TH Edition C. I. C. A. – Handbook Canadian Institute of Chartered Accountants (specific sections indicated on the syllabus) Evaluation: Final grades will be determined as follows: Mid-term exam 30% Final exam 70% Although the completion of weekly assignments does not factor into the final grade, their importance cannot be over emphasized.
The lectures provide the basic knowledge and the assigned problems build on that knowledge. Completion of these assignments is an absolute minimum for the student to gain an understanding of the subject matter.
Assignments will be reviewed in class. Students are responsible for all materials for the exams, whether or not it is covered in class. Exams will be a combination of all types of questions based on all sources, and students may be required to integrate theoretical concepts from the text to substantiate their arguments.
No make-up tests or make-up assignments are allowed in this course. “In the event of extraordinary circumstances beyond the University’s control, the content and/or evaluation scheme in this course is subject to change.
” Course Requirements:Calculators Only non-programmable, no-tape, noiseless calculators are permitted. Calculators capable of storing text are not permitted in tests and examinations. Dictionaries Dictionaries are not permitted. Handheld Devices Handheld devices capable of storing text and having calculator functionality (e. . Palm, etc. ) are not permitted. Additional Information: Methodology The material covered in the classroom will be used to supplement textbook readings. Each class will consist of a lecture lasting approximately one and half to two hours. The remainder of the class time will focus on review of all assigned problems and exam writing techniques. Every chapter should be read twice. The first reading should be done prior to attending class and the second reading should be done after the class discussion of the chapter.
The questions at the back of each chapter follow directly from the reading. Students should be able to answer these questions after a thorough reading of the material. Academic Integrity:Code of Student Conduct McGill University values academic integrity. Therefore all students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Code of Student Conduct and Disciplinary Procedures (see www. mcgill. ca/integrity for more information). L’universite McGill attache une haute importance a l’honnetete academique.
Il incombe par consequent a tous les etudiants de comprendre ce que l’on entend par tricherie, plagiat et autres infractions academiques, ainsi que les consequences que peuvent avoir de telles actions, selon le Code de conduite de l’etudiant et des procedures disciplinaires (pour de plus amples reseignements, veuillez consulter le site www. mcgill. ca/integrity). Final Exam Policy:Regulations Students should not make other commitments during the final exam period. Vacation plans do not constitute valid grounds for the deferral or the rescheduling of examinations.
See the Centre Calendar for the regulations governing Examinations: http://www. mcgill. ca/conted-students/exams/regulations/ Students are required to present their I. D. Card (with photo) for entrance to their examination. Conflicts If you are unable to write your final examination due to scheduling conflicts, you must submit a Final Exam Conflict Form with supporting documentation at least one month before the start of the final examination period. Late submissions will not be accepted. For details, see http://www. mcgill. ca/conted-students/exams/conflicts/ Exam Timetable
Examination schedules are posted at the Centre and on the following page approximately 6-8 weeks before the examination period commences http://www. mcgill. ca/conted-cms/exams/ The Centre cannot provide examination dates over the telephone. Classroom Rules:All electronic devices (cell phones and beepers) must be turned off during class time. Assignments Pickup:Marked assignments cannot be picked up from the offices at Continuing Education, therefore if your marked assignments are not available in class before the end of term you must submit a self-addressed stamped envelope to you instructor or these assignments will not be returned.
Remember to keep a photocopy or back-up of your creative work before it is handed in to your instructor. Email Policy:E-mail is one of the official means of communication between McGill University and its students. As with all official University communications, it is the student’s responsibility to ensure that time-critical e-mail is accessed, read, and acted upon in a timely fashion. If a student chooses to forward University e-mail to another e-mail mailbox, it is that student’s responsibility to ensure that the alternate account is viable.