ACCT 3200

Students learn to prepare the income statement, statement of comprehensive income, statement of changes in retained earnings, and asset side of the statement of financial position. Topics include the Canadian financial reporting environment; the conceptual framework; income statement; statement of comprehensive income; statement of changes in retained earnings; statement of financial position; revenue recognition; cash and receivables; inventory; short-term and long-term investments; property, plant and equipment including costing, depreciation, impairment, revaluation and disposition; and intangible assets, mineral exploration costs, research and development costs, and goodwill. Instruction is based on International Financial Reporting Standards.