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
- Understand the international reporting environment and IFRS.
- Compare Canadian and International GAAP and IFRS.
- Define and account for current and other liabilities.
- Apply both Canadian GAAP and IFRS.
- Prepare all journal entries related to long-term liabilities.
- Prepare shareholders' equity section and related journal entries.
- Calculate basic and diluted earnings per share (EPS).
- Prepare income tax journal entries.
- Complete a pension worksheet and journal entries.
- Account for various types of leases, including complex calculations.
- Account for changes in accounting policy, estimates, and errors.
- Prepare a statement of cash flows using both direct and indirect methods.
- Apply full disclosure in financial reporting.
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
Students will receive the following:
- Kieso, D. E., Weygandt, J. J., Warfield, T. D., Wiecek, I. M., & McConomy, B. J. (2019).
Intermediate accounting with WileyPLUS (Loose-Leaf, Vol. 2, 12th Canadian ed.). John
Wiley & Sons Canada, Ltd.
Type: Looseleaf Textbook: ISBN: 9781119496519
Students will also consult an electronic copy of the CPA Canada Standards and Guidance
Collection, via TRU Library:
- Chartered Professional Accountants of Canada. (2020, August 4). CPA Canada standards and
guidance collection (CPACHB) [e-book].
Students will need a non-programmable financial calculator for this course. 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 due to COVID-19 safety guidelines all in-person exams have been suspended. As such, all final exams are currently being delivered through ProctorU, which has an approximate fee of $35 involved. There will be more information in your course shell, on how to apply, if your course has a final exam.
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
|Assignment 2: Equity, EPS, and Financial Instruments
|Assignment 3: Income Tax and Post-Employment Benefits
|Assignment 4: Leases and Accounting Changes and Errors
|Assignment 5: Statement of Cash Flows and Disclosure Issues
|Final Exam (mandatory)
Open Learning Faculty Member
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of your course.