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Thompson Rivers University
Thompson Rivers University

ACCT 3211: Intermediate Financial Accounting 2

Building on ACCT 3201: Intermediate Financial Accounting 1, students learn to prepare the current liabilities, long-term liabilities, and shareholders’ equity sections of the statement of financial position and the cash flow statement. Topics include current liabilities and contingencies; long-term financial liabilities; shareholders’ equity; complex financial instruments and earnings per share; income taxes; pension and other employee future benefits; leases; accounting changes and error analysis; the cash flow statement; and other measurement and disclosure issues.

Learning outcomes

  1. Understand the international reporting environment and IFRS.
  2. Compare Canadian and International GAAP and IFRS.
  3. Define and account for current and other liabilities.
  4. Apply both Canadian GAAP and IFRS.
  5. Prepare all journal entries related to long-term liabilities.
  6. Prepare shareholders' equity section and related journal entries.
  7. Calculate basic and diluted earnings per share (EPS).
  8. Prepare income tax journal entries.
  9. Complete a pension worksheet and journal entries.
  10. Account for various types of leases, including complex calculations.
  11. Account for changes in accounting policy, estimates, and errors.
  12. Prepare a statement of cash flows using both direct and indirect methods.
  13. Apply full disclosure in financial reporting.

Course topics

Module 1: Non-Financial and Current Liabilities

Module 2: Long-Term Financial Liabilities

Module 3: Shareholders' Equity

Module 4: Complex Financial Instruments and Earnings per Share

Module 5: Income Taxes

Module 6: Pensions and Other Post-Employment Benefits

Module 7: Leases

Module 8: Accounting Changes and Error Analysis

Module 9: Statement of Cash Flows

Module 10: Other Measurement and Disclosure Issues

Required text and materials

The following materials are required for this course:

  1. Kieso, D. E., Weygandt, J. J., Warfield, T. D., Wiecek, I. M., & McConomy, B. J. (2022). Intermediate accounting with WileyPLUS (13th Canadian ed., Vol. 2). John Wiley & Sons Canada, Ltd.
    Type: Looseleaf Textbook. ISBN: 9781119740636

Students will also consult an electronic copy of the CPA Canada Standards and Guidance Collection, via TRU Library:

  1. Chartered Professional Accountants of Canada. (2020, August 4). CPA Canada standards and guidance collection (CPACHB) [e-book].

Additional requirements

A financial calculator is required. Recommended calculators include the Hewlett Packard 10BII+ or the Texas Instruments BA II Plus. Of the two, the Hewlett Packard is much more user-friendly.


Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact with any questions about this.

To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.

Assignment 1: Liabilities 10%
Assignment 2: Equity, EPS, and Financial Instruments 10%
Assignment 3: Income Tax and Post-Employment Benefits 10%
Assignment 4: Leases and Accounting Changes and Errors 10%
Assignment 5: Statement of Cash Flows and Disclosure Issues 10%
Final Exam (mandatory) 50%
TOTAL 100%

Open Learning Faculty Member Information

An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.

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