MGMT 201 - Intermediate Financial Accounting I

An intermediate level accounting course which focuses on the complex accounting issues related to the recording and reporting of assets in accordance with Canadian Accounting Standards for Private Enterprises and International Financial Reporting Standard for Publicly Accountable Enterprises. Students study the preparation of detailed financial statements for a corporate business organization.


Credits: 3


Hours: 45 (Lecture Hours: 45)


Total Weeks: 15



MGMT 109 (B+) or MGMT 120 (B+), OR permission of Chair.


Non-Course Prerequisites:






Course Content:
- The Canadian Financial Reporting Environment
- Conceptual Framework Underlying Financial Reporting
- Fair Value Measurements
- The Accounting Information System
- Using Reversing Entries
- Reporting Financial Performance
- Financial Position and Cash Flows
- Ratio Analysis-A-Reference
- Revenue Recognition
- Cash and Receivables
- Cash Controls
- Inventory
- The Retail Inventory Method of Estimating Inventory Costs
- Accounting Guidance for Specific Inventory
- Investments
- Pre 2011 Canadian GAAP for Investments
- Property, Plant, and Equipment:Accounting Model Basics
- Depreciation, Impairment, and Disposition
- Intangible Assets and Goodwill



Learning Outcomes:
Upon successful completion of this courses, students will be able to :
- Describe and apply generally accepted accounting principles
- Complete all steps in the accounting cycle
- Prepare financial statements
- Apply revenue recognition concepts related to long-term contracts
- Record and report accounts receivable and notes receivable
- Apply inventory classification and measurement methods
- Account for investments
- Record acquisition and subsequent costs for property, plant and equipment and natural resources
- Record depreciation, impairment and disposal of property, plant and equipment
- Account for Goodwill and intangible assets



Grading System: Letters


Passing Grade: D (50%)


Percentage of Individual Work: 100


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