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. Primary communication is
through the Learning Environment's "Mail" tool or by phone. Students will receive the necessary
contact information when starting the course.