Course Outline

Course Code RSM 321 H1 S

Course Name Advanced Financial Accounting Topics
Term, Year Winter, 2023
Course Meets L0101 – Wednesdays 1:00-3:00 p.m. – WO 30
L0201 – Wednesdays 3:00-5:00 p.m. – WO 35
Tutorial – Thursdays 7:00-8:00 p.m. (Online via Zoom)
Web page URL [Link]

Instructor Details
Name Email Phone Office Hours
Gordon [Link]@rotman.u 416-946- Wednesdays, 12:00-1:00 (RT523B)
Richardson [Link] 6801 or email me to set-up an
appointment
Scott [Link]@[Link] TBA Wednesdays, 2:00-3:00 (RT515)
Douglas [Link] or email me to set-up an
appointment

Course Scope, Mission and Learning Outcomes

This course will focus on the Canadian accounting treatment of Business Combinations, Foreign
Currency Transactions and Balances and Foreign Investments.

Students are expected to develop both an understanding of the concepts underlying these
topics and the technical and analytical skills needed to apply the concepts in practice. The case
method will be used to supplement problems from the text.

Course Prerequisites
RSM 320H1, as listed on the Faculty of Arts & Science Calendar webpage
([Link]/section/Rotman-Commerce).

Course Materials
Required Readings
1. Textbook: Modern Advanced Accounting in Canada, Darrell Herauf and Chima
Mbagwu, 10th Edition (Toronto: McGraw-Hill Ryerson, 2022), with Connect Access
Card. You must have a Connect Access Card in order to complete the online
homework.

2. Connect: Registration and access to Connect is required for this course as all weekly
homework will be done on-line by logging into Connect. Use your Connect Access Card
and pin code packaged with the Hilton text to register at Connect Student Registration
URL. See Quercus for registration instructions.

3. CPA Handbook: This can be accessed online as follows:

• Go to the following link: [Link]/bic
 • Go to “databases by subject” and select Accounting
• Click on “CPA Canada Standards and Guidance Collection” and you
are forwarded to the CPA Handbook.

4. Available through library online at [Link]/bic and selecting the “CICA

Handbook” database under “Quick links to popular databases” or for purchase)
Electronic Course Materials
This course will be using the following electronic course materials:

Connect: This is the online tool that accompanies the textbook for this course. Registration and
access to Connect is required for this course as the on-line homework will be done by logging
into Connect. Use your Connect Access Card and pin code packaged with the Hilton text to
register at Connect Student Registration URL.

See Quercus for registration instructions. Please note that you will be able to purchase a
license for just the software without the textbook for $65 at the U of T Bookstore.

See the file called “Text and Connect Information” in Quercus for the options available for
purchasing this access card, along with the costs of each option. The use of these materials
complies with all University of Toronto policies which govern fees for course materials.

Evaluation and Grades

Grades are a measure of the knowledge and skills developed by a student within individual
courses. Each student will receive a grade on the basis of how well they have command of the
course materials, skills and learning objectives of the course.
Work Due Date Weight
On-line homework 10 in total 10%
assignments Dates indicated below in the Weekly Schedule –
completed online via Connect
Participation See below 10%

Term Test February 16, 7:00-9:00 p.m. 35%

Final Assessment During assessment period 45%

Course Format and Expectations

INSTRUCTIONAL APPROACH:
A combination of lecture, technical problem solving, case studies and classroom discussion will
be used. Students should be highly motivated in learning the subject matter and dedicating
adequate time each week to the readings and class/tutorial preparation. Students are expected
to be prepared for the class and tutorial and to contribute to class and tutorial discussions.
Lecture notes will be available before class on the course website.
TUTORIALS
Tutorial leader: to be announced
The tutorial for this course will be by Zoom and is mandatory. You must register separately for
the tutorial. A Zoom link will be provided. The tutorial leader will review the highlights of the
previous week’s lecture and will address a successful approach to the course topics.
Historically, students who have attended the tutorial regularly perform better on the term test
and final assessment as the tutorial offers students an opportunity to ask questions and seek
additional help. Solutions will not be posted. The expectation is for the student to have
completed or attempted the assigned questions before attending the tutorial.
See Weekly Schedule for specific dates and questions that will be taken-up.

ON-LINE HOMEWORK, PARTICIPATION, TERM TEST AND FINAL ASSESSMENT

The homework and case submissions will ensure students keep up-to-date with assigned
readings assigned each week. They will also provide feedback on strengths and weaknesses
before the term test and final assessment.

On-line Homework Assignments

There is a total of 10 homework assignments throughout the term. All assignments are done
using the Connect tool. There will be no make-up assignments if any are missed. Students
must complete the assignments per the due date as indicated on the Weekly Schedule. There
is no time limit to these assignments, however only 2 attempts will be given for each. The best
score of the two attempts will be counted toward your final grade.

Class Participation
Class participation marks will be based on a combination of participation during case study
discussions in class as well as the submission of a reasonable attempt of each case assigned.

A portion of the participation grade will be based on a reasonable attempt of the weekly
assigned cases. The cases must be completed individually and will be graded on an effort
basis only (reasonable attempt). Please see the Weekly Schedule for the specific due dates
and cases that have been assigned. No emailed or late submissions will be accepted. A
submission folder will be created in Assignments in Quercus for the applicable cases.

Please submit an individual file for each case in MICROSOFT WORD format.
Submit each case in the appropriate submission folder as indicated by the case name.
Name your file as follows:
[Link] NAME name of case (for example, GORDON RICHARDSON King & Queen).

Please note that any case response submissions must be original work, giving credit to other’s
work where appropriate.

For the case study take-up during class, using the case responses submitted each
week, students should be prepared to contribute to the class discussion by raising
questions and issues on their own initiative and by being able to respond to questions
and issues raised by other students and the Instructor.

Term Test
The term test will take place on February 16 from 7:00 p.m. to 9:00 p.m. The test is 2 hours in
length and covers material up to and including Chapter 6.

If you cannot attend the test at the above time, you must inform your professor by email by
Sept. 29th. Also, you must provide details/proof as to why you are unable to attend. Since
there is a mandatory tutorial for this course on Thursdays from 7:00-8:00 p.m., there would be
only extreme situations where you cannot attend the scheduled midterm, given that you are
required to be at the tutorial on Thursdays during the scheduled time of the test. If a deferred
assessment is necessary, the date will be announced later, but it will be before the regularly
scheduled assessment.

For term test re-mark requests, the student has one week from the time the test papers
are returned to submit in writing the request for a re-mark, including a detailed
description of what he/she feels was marked incorrectly.

Final Assessment
The final assessment is comprehensive covering all material in the course.

Missed Tests and Assignments (including mid-term and final-term

assessments)
Students who miss a test or assignment for reasons entirely beyond their control (e.g. illness)
may request special consideration.
In such cases, students must:
1. Notify the instructor AND the Rotman Commerce Program Office on the date of the
missed course deliverable, e.g. missed test, final assessments, assignment or class (in
the case of participation marks).
2. Complete a Request for Special Consideration Form and submit it along with your
Absence Declaration on ACORN (please read the instructions on how to use the
Absence Declaration in ACORN) within 2 business days of the originally scheduled
course deliverable. Please email your documents to [Link]@[Link]
Students who do not provide this information will be given a grade of 0 (zero) for the missed
course deliverable.
In the case of a missed term test, the student mark will be reweighed to the final assessment.
Your instructor will explain to you how other missed course deliverables will be handled.
Late Assignments
All assignments, quizzes and case submissions are due on the date and at the time specified in
Quercus. Late submissions will not be accepted.
Students who, for reasons beyond their control, are unable to submit an assignment by its
deadline must obtain approval from the instructor for an extension. Supporting documentation
will be required as per the policy on missed tests and assignments.

Statement on Equity, Diversity and Inclusion

The University of Toronto is committed to equity, human rights and respect for diversity. All
members of the learning environment in this course should strive to create an atmosphere of
mutual respect where all members of our community can express themselves, engage
with each other, and respect one another’s differences. U of T does not condone discrimination
or harassment against any persons or communities.

Commitment to Accessibility
The University is committed to inclusivity and accessibility, and strives to provide support for,
and facilitate the accommodation of, individuals with disabilities so that all may share the same
level of access to opportunities and activities offered at the University.
If you require accommodations for a temporary or ongoing disability or health concern, or have
any accessibility concerns about the course, the classroom or course materials, please email
Accessibility Services or visit the Accessibility Services website for more information as soon as
possible. Obtaining your accommodation letter may take up to several weeks, so get in touch
with them as soon as possible. If you have general questions or concerns about the accessibility
of this course, you are encouraged to reach out to your instructor, course coordinator, or
Accessibility Services.

Academic Integrity
Academic Integrity is a fundamental value essential to the pursuit of learning and scholarship at
the University of Toronto. Participating honestly, respectfully, responsibly, and fairly in this
academic community ensures that the U of T degree that you earn will continue to be valued
and respected as a true signifier of a student's individual work and academic achievement. As a
result, the University treats cases of academic misconduct very seriously.
The University of Toronto’s Code of Behaviour on Academic Matters outlines the behaviours
that constitute academic misconduct, the process for addressing academic offences and the
penalties that may be imposed. You are expected to be familiar with the contents of this
document. Potential offences include, but are not limited to:
In papers and assignments
• Using someone else's ideas or words without appropriate acknowledgement.
• Submitting your own work in more than one course without the permission of the
instructor.
• Making up sources or facts.
• Obtaining or providing unauthorized assistance on any assignment (this includes
collaborating with others on assignments that are supposed to be completed
individually).
On test and exams
• Using or possessing any unauthorized aid, including a cell phone.
• Looking at someone else's answers.
• Misrepresenting your identity.
• Submitting an altered test for re-grading.
Misrepresentation
• Falsifying institutional documents or grades.
• Falsifying or altering any documentation required by the University, including (but not
limited to) medical notes.
All suspected cases of academic dishonesty will be investigated by the procedures outlined in
the Code of Behaviour on Academic Matters. If you have any question about what is or is not
permitted in the course, please do not hesitate to contact the course instructor. If you have any
questions about appropriate research and citation methods, you are expected to seek out
additional information from the instructor or other U of T or RC resources such as the RC Centre
for Professional Skills, the College Writing Centres or the Academic Success Centre.
Email
At times, the course instructor may decide to communicate important course information by
email. As such, all U of T students are required to have a valid UTmail+ email address. You are
responsible for ensuring that your UTmail+ email address is set up and properly entered on
ACORN. For more information visit the Information Commons Help Desk.
Forwarding your [Link] email to a Gmail or other type of email account is not advisable. In
some cases, messages from [Link] addresses sent to Gmail accounts are filtered as junk
mail, which means that important messages from your course instructor may end up in your
spam or junk mail folder.

Recording Lectures
Lectures and course materials prepared by the instructor are considered by the University to be
an instructor’s intellectual property covered by the Canadian Copyright Act. Students wishing to
record a lecture or other course material in any way are required to ask the instructor’s explicit
permission, and may not do so unless permission is granted. Students who have been
previously granted permission to record lectures as an accommodation for a disability are
excepted. This includes tape recording, filming, photographing PowerPoint slides, Quercus
materials, etc.
If permission for recording is granted by the instructor (or via Accessibility Services), it is
intended for the individual student’s own study purposes and does not include permission to
“publish” them in any way. It is forbidden for a student to publish an instructor’s notes to a
website or sell them in any other form without formal permission.
Weekly Schedule
You are responsible for material in the appendices in the text unless stated otherwise.

Week Lecture date

1. Jan. 11
Lecture: Hilton Text: Chapter 2—Investments in Equity Securities

2. Jan. 18
Lecture: Hilton Text: Chapter 3-- Business Combinations
On-line Homework #1 (Chapter 2) - due Jan. 17 at noon.
Tutorial Jan. 19 from 7:00-8:00 p.m. Take-up problems 2-6, 3-14, 3-15

3. Jan. 25
Lecture: Hilton Text: Chapter 4-- Consolidated Statements on Date of Acquisition
Case: Take-up and submission: King/Queen (not in text see Quercus).
Case submission due at 9:00 a.m. on day of class
On-line Homework #2 (Chapter 3) – due Jan. 24 at noon
Tutorial Jan. 26 from 7:00-8:00 p.m.: Take-up problems 4-8, 4-12, 4-13

4. Feb. 1
Lecture: Hilton Text: Chapter 5 -- Consolidation Subsequent to Acquisition Date
Problem: Problem 5-7 will be taken up in class this week.
Case: Take-up and submission: Case 4-3 (Valero)
Case submission due at 9:00 a.m. on day of class
On-line Homework #3 (Chapter 4) – due Jan. 31 at noon
Tutorial Feb. 2 from 7:00-8:00 p.m. Take-up problems 5-9, 5-10

5. Feb. 8
Lecture: Hilton Text: Chapter 6-- Intercompany Inventory and Land Profits
Problem: Problem 6-15 will be done in-class this week (exclude part D)
Case: Take-up and submission: Fall 2020 term test case (Guelph Auto Parts)
Case submission due at 9:00 a.m. on day of class
On-line Homework #4 (Chapter 5) – due Feb. 7 at noon
Tutorial Feb. 9 from 7:00-8:00 p.m. Take-up problems 6-5, 6-12

6. Feb. 15: Review Session (there is a class this week but it is a review session only-
see past midterm posted on Quercus. We will also take up P6-16 as part of the
review session)
On-line Homework #5 (Chapter 6) – due Feb. 14 at noon

Date of term test: Feb. 16. Time: 7:00 p.m. to 9:00 p.m.
The term test is 2 hours and covers material up to and including Chapter 6.
If you cannot attend the test at the above time, you must inform your professor by
email by Jan. 25th. Also, you must provide details/proof as to why you are unable to
attend. Since there is a mandatory tutorial for this course on Thursdays from 7:00-
8:00 p.m., there would be only extreme situations where you cannot attend the
scheduled midterm, given that you are required to be at the tutorial on Thursdays
during the scheduled time of the test.
 READING WEEK FEBRUARY 20-24, 2023

7. Mar. 1
Lecture: Hilton Text: Chapter 7--Intercompany Profits in Depreciable Assets
(excludes Intercompany Bondholdings for exams); Deferred Income Taxes and
Business Combinations
Problem: Problem 7-10 (part A) and Problem 9-5 will be taken up in class this week

8. Mar. 8
Lecture: Hilton Text: Chapter 8—Ownership Issues
(Note: There is a self-study for this week. Consolidated Cash Flows will not be tested
on the exams)
On-line Homework #6 (Chapter 7) – due Mar. 7 at noon
Tutorial Mar. 9 from 7:00-8:00 p.m.: Take-up problems P8-11 (Part A only), P8-14

9. Mar. 15
Lecture: Hilton Text: Chapter 9-- Other Consolidation Reporting Issues
Problem: Problem 9-14 will be done in class this week
Case: Take-up and submission: Case 7-3 (Penston)
Case submission due at 9:00 a.m. on day of class
On-line Homework #7 (Chapter 8) – Mar.14 at noon
Tutorial Mar. 16 from 7:00-8:00 p.m.: Take-up problems 9-9, 9-10

MARCH 19, 2023 – LAST DAY TO DROP COURSE WITHOUT ACADEMIC PENALTY
10. Mar. 22
Hilton Text: Chapter 10-- Foreign Currency Transactions
Case: Assigned case to be taken up in class: Case 9-3 (Mr. Renovator)
Case submission due at 9:00 a.m. on day of class
On-line Homework #8 (Chapter 9) – due Mar. 21 at noon
Tutorial Mar. 23 from 7:00-8:00 p.m.: Take-up problems 10-11 (Part A, B only), 10-
15 (Part A,C only)

11. Mar. 29
Lecture: Hilton Text: Ch.11-- Translation and Consolidation of Foreign Operations
Case: Assigned case to be taken up in class: Case 11-2 (Nova)
Case submission due at 9:00 a.m. on day of class
On-line Homework #9 (Chapter 10) – due Mar. 28 at noon
Tutorial Mar. 30 from 7:00-8:00 p.m.: Take-up problems 11-1, 11-6

12. Apr. 5
Lecture: Hilton Text: Ch. 12 Accounting for Not-For-Profit and Public Sector
Review of a past Final Assessment. See Quercus for posting.
On-line Homework #10 (Chapter 11) – due Apr. 4 at noon

FINAL Assessment PERIOD: APRIL 11-28

Please note that the last day you can drop this course without academic penalty is March
19, 2023.
Other Useful Links
• Become a volunteer note taker
• Accessibility Services Note Taking Support
• Credit / No-Credit in RSM courses
• Rotman Commerce Academic Support

URL links for print

• Book an appointment with a writing or presentation coach: [Link]
• Writing and Presentation Coaching academic support page:
[Link]
presentation-coaching/
• Centre for Professional Skills Teamwork Resources page:
[Link]
• Book an appointment with a Teamwork Mentor: [Link]
• Request for Special Consideration Form: [Link]
students/forms-requests-and-appeals/forms/
• ACORN: [Link]
• Email Accessibility Services: [Link]@[Link]
• Accessibility Services website: [Link]
• University's Plagiarism Detection Tool FAQ: [Link]
• The University of Toronto’s Code of Behaviour on Academic Matters:
[Link]
• Information Commons Help Desk: [Link]
• Become a volunteer note taker: [Link]
taking/
• Accessibility Services Note Taking Support: [Link]
taking-support/
• Credit / No-Credit in RSM courses: [Link]
students/degree-requirements/credit-no-credit-option/
• Rotman Commerce Academic Support: [Link]
students/academic-support/