B.C.'s Energy College


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MGMT 202 - Intermediate Financial Accounting II

This course covers the application of generally accepted accounting principles to the complex reporting and recording issues related to liabilities and equity in the corporate business environment.

 

Credits: 3

 

Hours: 45 (Lecture Hours: 3)

 

Total Weeks: 15

 

Prerequisites:

MGMT 201 Intermediate Financial Accounting I

 

Non-Course Prerequisites:

None

 

Co-requisites:

None

 

Course Content:
- Current Liabilities and Contingencies
- Long-term Financial Liabilities
- Shareholders' Equity
- Complex Financial Instruments
- Earnings per share
- Income Taxes
- Leases
- Statement of Cash Flows
- Accounting Changes and Error Analysis

- Other Measurement and Disclosure Issues

 

Learning Outcomes:
Upon completion of this course the student should be able to:
- Define, identify and account for current liabilities
- Account for employee related liabilities
- Explain the recognition, measurement, and disclosure requirements for decommissioning and restoration obligations
- Account for unearned revenues, product guarantees, and other customer program obligations
- Explain the required accounting and reporting standards for contingencies, guarantees and commitments
- Outline how non-financial and current liabilities are presented and analyzed
- Account for long-term bonds payable
- Account for long-term notes payable
- Outline the required disclosures for long-term debt
- Account for share transactions
- Account for various forms of dividend distributions
- Outline the effects of different types of dividend preferences
- Describe the presentation of shareholders’ equity
- Account for convertible securities at issuance, conversion and retirement
- Account for compound financial instruments
- Describe the accounting for compensatory stock option plans
- Calculate earnings per share in a simple capital structure
- Calculate diluted earnings per share
- Determine and record future tax assets and future tax liabilities
- Apply intraperiod tax allocations
- Account for a tax loss carryforward and a tax loss carryback
- Outline the disclosure requirements for corporate income taxes
- Identify and account for capital and operating leases for both the lessor and the lessee
- Account for accounting changes
- Identify disclosure requirements for accounting changes
- Prepare a statement of cashflows using the direct and indirect method
- Explain the use of accounting policy notes
- Identify subsequent events
- Identify the major disclosures found in the auditor's report

- Identify differences in accounting between private enterprise standards and IFRS

 

Grading System: Letters

 

Passing Grade: D (50%)

 

Percentage of Individual Work: 100

 

Additional Comments:
- Assignments will be taken from text questions/cases. Assignments are intended to prepare students for examinations and provide feedback on student understanding of course materials. In-class practice sets will assist students with the preparation of assignments. Please refer to course content on following page for outline of assignments. All assignments are to be submitted using the D2L drop box on due date by midnight . Graded assignments will be returned via D2L. Late assignments submitted without prior instructor permission will not be graded. In the spirit of fairness to all students a 5% penalty per day late will be assessed on late assignments unless waived by instructor due to student documented illness or loss in immediate family. Assignment will NOT be accepted if it is over 5 days past due date except under extreme circumstances and at the discretion of the instructor.

- Exams are to be written as scheduled. Please advise instructor immediately if there are exam schedule conflicts. As a general rule, deferred exams are only granted for documented medical causes or a loss in the immediate family. Deferred exams will be written within six days after exam date. It is your responsibility to contact the instructor prior to the scheduled exam to negotiate other arrangements. Rewrites are not permitted.

 

Textbooks:
Textbooks are subject to change.  Please contact the bookstore at your local campus for current book lists.

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