Course description
This is an advanced course in Accounting Theory and although it does not ignore the institutional structure of accounting and standard setting, it is presented with a view toward a theoretical orientation with contributions from other disciplines including economics and finance. Standards such as reserve recognition, management discussion and analysis, employee stock options, post employment benefits, financial instruments, ceiling tests, hedge accounting and comprehensive income are critically evaluated. Integration of Canadian and U.S. standards with those of the International Accounting Standards Board is presented to facilitate the transition toward the adoption of IASB standards in 2011 for public companies. Practical and theoretical problems of the present value model, foreign exchange accounting, the process and issues related to standard setting, agency theory and other topics relevant to current events are discussed. Students will be able to select appropriate accounting policies for the specialized industry they find themselves working in upon graduation.
Course details
Additional information: This course is offered through OntarioLearn. Find out more about OntarioLearn courses and booking your exams.
Textbooks can be purchased from www.textnet.ca. No substitutions unless otherwise stated.
Required textbook(s):
Textbook title: Financial Accounting Theory Author: William R. Scott Publisher: Prentice Hall Edition: 6th ISBN: 9780135119150
Host college: CL