Objectives and Requirements:

Financial accounting 3 is the third in a sequence of five courses in the financial accounting stream in the CGA program of professional studies. It is an intermediate financial accounting course that builds on the basic understanding of financial accounting that students have acquired in previous financial accounting courses.

Financial accounting 3 is designed to assist students in developing professional competence and skills to:

Prepare financial statements, focusing on the liabilities and owners’ equity elements of the balance sheet

Choose appropriate financial accounting and reporting policies in both specific and general circumstances

Determine the substance of a business transaction and critically assess the ability of the GAAP framework to reflect its substance

Analyze a financial accounting situation, identify issues and alternatives, and then formulate recommendations using ethical, professional judgment

Contents:

Stockholders’ Equity, Complex Debts and Equity Instruments, Leases, Accounting for Income Tax, Pension Cost and Obligations, Accounting Changes, Earnings per Share, Financial Statement Analysis, Revenue Recognition and Investments.

Credit: 4