70-351 - Accounting Theory 1(winter2008)

70-351 - Accounting Theory 1(winter2008) - 70-351...

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General Information Class meetings Section 1 TR 8:30 – 9:50 a.m. Instructor Prof. Greg Dunning Office hours TR 10:00 – 11:30 am TR 1:00 – 2:30 pm E-mail [email protected] [email protected] Telephone 253-3000 ext. 3154 Office OB 413 Secretary Stephanie Miller Office OB 425 E-mail [email protected] Course Description An in-depth examination of the determination, measurement, classification and reporting of liabilities and owner’s equity. Emphasis is given to the accounting use of the actuarial techniques in the accounting for bonds, pensions, and leases. The statement of changes in financial position is studied in detail. Where applicable, the interpretation of accounting theory and concepts is presented for transaction analysis, measurement, and classification. The progression of accounting theory over time and comparisons between Canadian GAAP, U.S. FASB, and IASB will be presented. Learning Objectives and Expected Outcomes 1. Describe, apply, and evaluate the various accounting theories, concepts, and principles as they relate to transaction analysis, measurements, and financial statement presentation. 2. Use the accounting information system to communicate the economic substance of the enterprise through the financial statements and related footnotes. 3. Demonstrate (through journal entries and appropriate disclosures) the theoretical concepts of income statement and balance sheet measurements for various equity items, i.e. long-term bonds, pensions, and capital leases. 70-351 Accounting Theory I Winter 2008
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4. Examine and evaluate the theoretical concepts in use for complex financial instruments and illustrate the measurement aspects as they relate to financial statements. 5. Describe, apply, and evaluate the various concepts of Corporate Accounts as they apply to par/stated value, stock subscriptions, issuance of a package of corporate equities, treasury stock, dividends/stock splits and financial reorganizations. 6. Describe, apply and evaluate the concepts of short-term debt and post sale costs. 7. Restate the classical accrual financial statement information into a cash flows statement and analyze the new data presented.
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This note was uploaded on 09/30/2008 for the course ACCT 351 taught by Professor Dunning during the Winter '08 term at Windsor.

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70-351 - Accounting Theory 1(winter2008) - 70-351...

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