Professional Documents
Culture Documents
Course Description
This is the second half of the introductory accounting course. Technical topics include the reporting
and interpretation of debt and equity issues, owners' equity, cash flow statements and financial analysis.
Through cases, choices of accounting treatment and disclosure are discussed, and the development of
professional judgment is encouraged.
Though the courses do satisfy the requirements of the CPA Ontario’s core competencies for an
introduction to the subject, the courses are not intended solely for professional accountancy training.
They provide a better understanding and a valuable analytical tool for anyone considering a career in
management.
Course Prerequisite
MGA B01H3 (MGT B05H3) Intermediate Accounting I
Course Exclusions
VPAB13H3, MGT120H, MGT201H, MGT220H, RSM219H, RSM220H
Course Policies
This course and your degree are designed to give you a broad understanding of the world of business.
The instructor will strive to provide accurate information, quality materials, and good service. In return,
the instructor expects that you will conduct yourself in a way that prepares you for the world of work:
The required readings cover the basic course material. Classes will only selectively cover the material
in the required readings. Therefore, classes will focus on topic introductions, complicated technical
material, and application. It is crucial that students come to class prepared to discuss the scheduled
topics and participate in the assigned activities. Students are responsible for all topics in the required
readings regardless of whether or not they are discussed during class and are responsible for all topics
covered in lecture, regardless of whether or not they are covered in the required readings. You are
expected to have completed the assigned readings before the class session for which the items are
listed. In each chapter there are Demonstration Cases and Self-Study Questions with solutions
provided. It is strongly recommended that you attempt to solve these problems before tackling some
of the more complex text questions. In addition, various cases/articles may be distributed in class.
These are required readings whether or not the items are formally listed on the course outline.
Course Materials
(a) Required Text:
• Libby, Libby, Short, Kanaan, and Sterling, Financial Accounting, McGraw Hill, 7th Canadian
edition, with Connect Access Card.
• Articles, cases, and additional reading material made available during class or on Quercus.
If you need help getting started? Visit the Quercus Help Page to access tip-sheets and other helpful
resources. For additional questions, contact the Ed Tech team at quercus@utsc.utoronto.ca. For
frequently asked questions, visit: https://www.utsc.utoronto.ca/technology/faq-students
If you purchased a used book and do not have a Connect Access Card, you will need to purchase access
to Connect in order to work on your one line assignments and quizzes.
The key to success in this course is to attempt as many problems to increase your level of technical
knowledge and gain confidence and familiarity of the type of questions you may be asked on the exams.
In addition to the solutions of the class discussion and tutorial questions you will have access to,
additional questions and solutions are made available to you in Connect to check your own
work/progress from the Libby’s end-of-chapter questions and problems. Although these assignments
are marked they are not counted as part of your overall course assessment. Nevertheless, students are
encouraged to try these questions. In Connect, we have set the policies as follows:
• Students are allowed to check their work during and after each assignment. The system will provide
“hints” if available for questions.
• The system will show feedback after students check their work during each assignment and the
system will provide detailed feedback (with solutions) after assignment
• You will see your score each time you click “Score this” rather than at the end of the assignments.
o You will be able to see your results for each question immediately rather than at the end of the
assignment
Connect will also allow you to have access to the following resources:
• Online Interactive eBook (highlighting, note-taking, hyperlinked, printable)
• Textbook Chapter Practice Questions with Solutions o Self-Quiz and Study Questions
• Student Resources including Check Figures, Help Me Solve It Video Tutorials and Textbook Self-
Study Quiz Solutions.
Each assignment offers you a unique opportunity to test not only your understanding of the course
material but also your ability to analyze and solve problems. An important aspect of problem-solving
is the necessity of selecting an answer in the face of uncertainty about the facts or requirements in the
problem. Students are encouraged to practice as many times as necessary until they satisfied with the
outcome. Students will not be allowed to access the assignment after the due date. To help you develop
this critical ability, your professor will not discuss a homework problem or answer any questions about
it prior to its submission.
In the last class of the semester, each group has a maximum of 10 minutes to present the project
(maximum: 7 minutes) and answer questions (maximum: 3 minutes) from the class.
Learning to work together in teams is an important aspect of your education and preparation for your
future careers. That said, project-based teamwork is often new to students and students are therefore
reminded of the following expectations with respect to behaviour and contributions to your group
submission:
1. Ensure that all team members:
• Treat other members with courtesy and respect;
• Honour the ground rules established by the team;
• Contribute substantially and proportionally to the final project;
• Ensure enough familiarity with the entire contents of the group project/ assignment so as to be
able to sign off on it as original work;
• Meet the project timeline as established by the team.
Copies of prior final exams will not be made available. These questions will not be discussed and
solutions to them will not be provided.
All exams are cumulative: questions may be asked on all material from the beginning of the
course and also from the MGA B01.
Tutorials
There are 7 Tutorial sessions scheduled. The questions discussed in the tutorials are listed on page 11
of the course outline.
In such cases, students must notify the instructor on the date of the missed test (or due date in the case
of course work) and submit supporting documentation (e.g. proof that the student reported his or her
absence through the online absence declaration) within one week of the originally scheduled test or
due date. Note that the physician’s report must establish that the patient was examined and diagnosed
at the time of illness, not after the fact. Students who do not provide the instructor on the date of the
missed test (or due date in the case of course work) and/or who do not provide the instructor with
appropriate or sufficient supporting documentation within one week of the originally scheduled test or
due date will be given a grade of 0 (zero).
If a student misses the Midterm Exam, please discuss with your instructor for a possible make-up exam.
However, in some circumstances, the weighting of the midterm could be added to the weighting of the
final exam. Your instructor will review the situation case by case.
If a student misses the Group Case Assignment, a make-up assignment will not be arranged. However,
as long as the student followed the process detailed above, the weighting of the group case assignment
will be added to the weighting of the final exam. Except for any unusual circumstances pre-approved
by the instructor, no late group case assignments will be accepted.
Students with diverse learning styles and needs are welcome in this course. If you have a disability that
may require accommodations, please feel free to approach me and/or the AccessAbility Services
Office.
If you have any question about what is or not is permitted in the course, please do not hesitate to contact
the 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 University of Toronto resources
such as The Writing Centre or the Academic Advising & Career Centre. If you would like to find out
more information regarding university advice for ‘How not to plagiarize’, please use this link. More
generally, this link includes a lot of useful advice for students on academic writing.
For information and resources on Academic Integrity, please visit the Office of Academic Integrity
FAQs.
(g) Email
At times, the course instructor may decide to communicate important course information by email. As
such, all UofT 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 the ACORN system. For
more information, please visit this link.
Academic Support
(a) UTSC Library
The BRIDGE and the UTSC Library are operating online! We are offering our full suite of programs
and services to support students, staff, and faculty in their studies, research projects, and experiential
learning initiatives.
To find out more about the UTSC Library’s support for students while studying remotely, please visit
the UTSC Library Website. For all other inquiries, please email thebridge@utsc.utoronto.ca or email
your Liaison Librarian, Mariana Jardim mariana.jardim@utoronto.ca
(f) Studying
The coverage of material in these courses is extensive and rigorous. Experience has shown that
students who fail to keep up-to-date at all times, no matter what their previous background in the
subject, will tend to have difficulty in handling the material, which is of a cumulative nature, on tests
and examinations.
It is generally agreed that one needs to work through a substantial number of exercises and problems
in order to understand the concepts and procedures involved in accounting courses. In the class
sessions a number of text questions and cases will be discussed. It is important to understand that
questions on the tests and final examination may differ significantly from text exercises. Questions
from the text usually reflect the material in a single chapter, are often variations of chapter illustrations,
cover only selected portions of the assigned material, are usually "complete" problems (in the sense
that one is expected to follow a logical procedure from start to finish) and are done on an "open-book"
basis.
Questions discussed/solved in class should be viewed as a minimum effort in order to understand the
course. Students are strongly urged to attempt other problems from the text. To assist in the effort,
the solution manual will be available to use to check your answer during the instructor’s office hours.
In all instances, students should attempt their own solution of problems before verifying their answers.
Photocopying of solutions will not be permitted.
1. Go to the Connect website using the following link (note the links are based on the lecture section
you are officially enrolled in on ACORN).
Lecture Link
L01 https://connect.mheducation.com/class/l-chen-w24-b02-l01a
L02 https://connect.mheducation.com/class/l-chen-w24-b02-l02
L04 https://connect.mheducation.com/class/l-chen-w24-b02-l04
Note that it is important that you follow the instructions above in order to receive the correct marks for
your Connect Online Assignments.